ST GEORGE & ST PAUL, TIVERTON ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2023 CONTENTS REPORT OF THE PCC REPORT OF THE INDEPENDENT EXAMINER STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEET 10-11 ACCOUNTING POLICIES 12-15 NOTES TO THE ACCOUNTS
The Report and Accounts of the Parochlal Church Council of Tiverton St Geoige & St Paul for the Year Ended 31st December 2023 Background And AdminSstratlve Informatlon.. Tiverton is a thrivlng market town of about 21,000 people. The parish of Tiverton St George and St PaLtI comprises St George's church which is situated in Fore Street, Tiverton and St Paul'5 Church which is situated In Church Street, Tiverton. It has a relatively stable population and is withln In the 25% most deprived parishes in England, with particularly high levels of deprivation within the West-Exe area where our main venue of St Paul's Church and St Paul's Church Rooms are located. The correspondence address is.. The Parish Office. Church Street, Tiverton EX16 SHU Email.. office@tivertonchurch.org Website.. www.tivertonchurch.org The Parochial Church Council {PCCI is a body corporate IPCC Powers measure 1956, Church representation rules 20061 Charity registration number: 1175137 Alms And Purpose: A Chtjrch Wlth A Heart For The Community We are 3 lively Anglican church, for all ages, seeking to serve others and be transformed by the love of Jesus Christ. Fully embedded in our local community in Tiverton, Devon, with over 20 outreach services to reach all parts of our community, including families, children, homeless, older people and youth. In addition to more than 10 different services supporting our 200+ congregation. The PCC has the responsibility of co-operating with the Incumbent, the Reverend Andrew Humm, in promoting in the ecclesiastical parish of Tiverton St George and St Paul, the whole mission of the church, pastoral, evangelistic, social and ecumenical. The PCC 15 responsible for the financial management of the parish buildings. This includes the care and maintenance of the fabric of both churches, and the care and maintenance of the churchyard at St Paul's. St George's graveyard is closed and is the responsibility of the local altthority, Mid Devon District Council. The buildings in regular use for public events {St Paul's Church and St George's Church Extensionl are fully accessible with a entrance ramp, accessible toilet, baby-changing facilitie5. St Paul's Church also has a hearing loop and a new audio-visual System with big screens. While remaining a licensed place of worship, for practical reasons no regular services have been held in St George's Church Since October 2014. St Paul's Church Rooms provides a range of room sizes, toilets and baby-changing facilities, but is not fully accessible with some steps from street level to the ground floor, and the fi'rst floor currently only accessed by either of two staircases. Plans for a complete reconfiguration and renovation
of this building, including full accessibility and the installation of a lift to the first floor have been drawn up, but their implementation is dependent on sufficient funding belng secured. We livestream our Sunday services and have lively Facebook, Instagram and YouTubeaccounts to keep our church community and our nelghbours connected through regular updates, prayers and reflections. We started livestreaming during the Covid pandemic, and have continued to find this an important way of engaging with those who find it challenging to return to or begin attending services in person. As in previous years, fundraising activity for renovation and updating our buildings continues to be a majorfocu5. During this year we have been able to complete major work on the leaking church roof, and install a new LED lighting system which has greatly improved both the useability and environmental impact of the church building. Internal decoration to the maln church building is a project yet to be started and in need of significant funds. We have now successfully gained Planning Permission for the complete renovation and refurbishment of the St Paul's Church Rooms mentioned above, and have moved into a phase of establishing detailed costings of this work and formulating a fundraising plan. This is a project with a vision to allow the church to do even more to engage with and support our local communitythrough the facilities afforded by a much-enhanced venue. In orderto achieve this vision, we will require considerable funding. both from within the church and local communities and by making successful applications to relevant grant-making bodies. Objectives and activltles: As a parish church, St George and St Paul exists for all in the community who seek comfort, Solace and support, whether they are members of the congregation or not. The PCC is committed to providing facilities for worship, prayer, fellowship and pastoral support for those in the parish and in the wider community of Tiverton. In planning our activities, the PCC has regard to the Charity Commission guidance on public benefit and specifically the guidance for charitieswhose objective 15 the advancementof religion. Our church benefits over 700 people each week, throu8h regular church services; groups that reduce loneliness such as toddlers and a vulnerable people's café, and others that bring people together such as our thriving community choir, Take Note. We also work alongside other local charities such as CHAT IChurche5 Housing Action Team) and ReRooted la surplus food café) that address specific needs such as homelessness and food poverty, We aim to enable and encouraEe people in our community and beyond to come to faith and to grow in faith through worship, discipleship and prayer developing knowledge and trust in Jesus, provision of pastoral care within our parish together with mission and outreach work in the wider cornmunity. We are very privileged to be an extremely intergenerational community, and with different services and needs to be met therein is a huge focus on developing the younger generation from tiddlers and toddlers right through to pastoral and friendship groups for the older generation. Our team includes a Vicar. two Curates who joined the church in July 2023 lone of whom is currently on maternity leave), a full-time Youth Minister, full-time Children's and Families Minister, and a part time Administrator. The staff are supported by a large and committed volunteer team of Readers, Ordinand, retired clergy, Church Wardens, a Treasurer and an active PCC, We are fortunate to have particularly high levels engagement with young
people in the community, seeking to meet a variety of their needs through social groups and supporting those with a Christian falth to grow In It. The congregation has been generous in supporting a variety of youth events, activities, a mentoring service, and residential camps. This has allowed us to build strong relationships and help young people Sn the community to grow and feel loved and appreciated, even in challenging times and situations. Achlevements and performance; The activitie5 of the Parish during 2023 are fully reviewed in the Annual Reports prepared for the Annual Parochial Church Meeting. It has been a privilege to be part of such a thriving. compassionate church commtjnity which seeks to serve the needs of it5 local communlty and support arid care for each other. It has been another busy year for the PCC and Church Wardens, especially during the three months of the Incumbent's sabbatical, which provided him with a much-needed period of rest and reflection and has allowed him to return with even greater vlslon and enthuslasm with which to ble5S the church. The church's activities have largely settled into their new rhythm since the Covid-19 pandemic, allowing us to reach out to the community from a more settled basis, although the impact of the pandemic and the p35t year's cost of living crisis have significantly increased the needs of many in our often- very deprived neighbourhood, In addition to offering Sunday and midweek services, our volunteers take the church to many homes for house groups,. and to our local secondary School three times a week through the Christian Union and School Pastors initiatives. Our local primary-age children come to Fuslon, a weekly children's group, while the children's work team run Open the Book sessions in the local primaryschool, and termly Messy Church events, which can see attendances of over 100 people. Our weekly Charge youth group for 11-18- year-olds is a thriving group has a typical attendance of around 30 young people acr05S the whole age-range and Pfovides a vital Social and support Space both for children whose families reEularly attend church and for those who have never attended a service. We also offer discipleship groups for 11 years plus• giving them space to ask questions about the Christian faith, We work closely with local charities to ensure our community has the services it needs to support everyone. We provide free food to around 150 people at our weekly Breakfast-On- The-Go event, which has a particular focLts on families heading to the local primary school and feedback from teachers at the school shows that this provision has a noticeable impact on the learning and behaviour of the children. In a similar vein, Lunch-On-The Go and The Living Room each run once a week, and have proven to be a successful way of meeting the practical and social needs of particularly vulnerable and lonely members of the community. We also continue to have a very close relationship with our local homelessness charity, CHAT (Churches HoL¢sing Actr'on Team), supporting them with their provision of services to those who are homeless or at risk of homelessness, including through advice, a foodbank and the work of trained volunteers. Independent revlew of church performance: The PCC has continued this year to work through the recommendations from the Truscott Report commissioned previously as a means of aiding in reviewing and improving the way things are done. This year has seen a number of those recommendations acted vpon, while
others have been discussed and set aside to come back to later. The report hBs been invaluable in highlighting the positives that we are already achieving in our community, and also in clarifying the options for how to improve our operations and community engagement In future. In particular, it makes clear that we have the potential for growth and greater community impact,. but also that some of our facilitles such as St Paul's Church Rooms definitely require significant improvement if they are to be the church and community hub5 of our vision. Volunteers: One hundred and sixty-six members of the church serve as volunteers across a number of teams; from AV to welcoming and breakfast on the go to worship. Ministering to our church members and the wider community many of our activitie5 would not be possible without the faithful service of our volunteers. Safeguarding: A safeguarding team of five volunteers look after all areas of safeguarding in church including the safer recruitment of all volunteers and ensuring all have appropriate training and D8S checks, Safeguarding and related policies are reviewed annually and updated., whilst ensuring the procedures are followed through, The Quality Assurance of safeguarding is monitored regularly, and any safeguarding concerns are dealt with in conjunction with the Diocese Safeguarding Team. Financial Revlew: The PCC are grateful to all those who have continued to give sacrificially throughout 2023, both financially and in the use of their time and talents, enabling God's work in the fellowship and community to continue and thrive. As a church we do not generally hold general fund-raising events but are confident that our regular giving through the Parish Giving Scheme, along with other donations from the congregation, will enable us to meet our ongoing costs, To that end the PCC have approved an aspirational budget for the current year, which includes flexibility to allow for the continuing uncertainty around inflation, whilst being reassured about the financial stability of the parish, Unrestricted Funds: Income of £213,422 was a welcome increase of Il% on 2022 and 15DA greater than the budget. Voluntary income increased by 150/0, although income from occasional offices and fundraising was lowerthan 2022. Income of £8,013 from the hire of our buildings was comparable to 2022, Hire charges have increased from 2024 to take into account the increase in overhead costs. Investment income includes the rent from the church flats. The PCC reviewed the level of rents during the year and agreed a phased approach to rent increases that will reflect rising maintenance costs. General fund expenditure of £202,321 was marginally lowerthan 2022 and the 2023 budget.
Our Common Fund contribution of £116,969 has been paid in full and we are delighted to be able to set aside £17,691 IIOYol of voluntary income to support our mission partners; Tear Fund, CMS, The Bible Society and Churches Housing Action Team. We were able to keep energy costs close to 2022 levels thanks to fixed tarlff contracts, but these come to an end during the next 12 months. Designated Funds: During the year the PCC was notified of a legacy of £30,000 due to the church and this has been accounted for in line with the PCC'S policy on grants and legacies. Expenditure of £25,722 from these funds includes: Fixed wiring maintenance and electrical repairs Installing a new lighting scheme and emergency lighting at st Paul's church building Church flats - replacement central heating boiler General building maintenance Restricted Funds: Income of £83,378 includes grants and donations toward5 the church lighting scheme, re- development of the church rooms and support towards church and community engagement. Expenditure of £107,616 includes.. Installing a new lighting scheme and emergency lighting at St Paul's church building, in addition to the contribution from designated funds Clergy working expenses Community outreach- including Breakfast and Lunch on the Go and The Living Room Youth, children, and family's ministry costs Training and education Building maintenance IT equipment upgrades Emergency welfare Erants The new lighting schemÈfor St Paul's church was completed during 2023 using reserves, grant funding and donatiorbs from church members. The PCC anticipate that the refurbishment of the church rooms will start during 2024. Ongoing fFnanci31 support for the youth, children and families work in the church and parish is provided by grants from a local charity. The PCC recognise that the current economic climate continues to exert upward pressures on the cost of running the parish, whilst inflation can also affect giving from church members, All reasonable measures are taken to monitor expenditure with regular financial reports provided to the PCC, staff and volunteer5.
Reserve's pollcy- General Fund: The PCC policy is to achieve a General Fund balance representing approximately three months operating costs to cover unforeseen eventualities that may arlse from time to time and one month's Common Fund. This represents a target balance of £33,6(Ki. The potential need for other reserved funds such as fabric, equipment and improvement are kept under review and will be formalised as appropriate, Structurei governance and management The method of appointments of the PCC members is set out in chufch representation rules. Membership of the PCC conslsts of the vicar, curate, churchwardens and members elected by those persons of the fellowship who are on the electoral roll of the parish. All those who attend the church are encouraged to reglster on the electoral roll and stand for election to the PCC. The PCC members are responsible for making decisions on the matters of general concern and Importance to the parish including deciding how the funds of the PCC are spent. Full PCC met seven times during the year. The standlng commlttee met between full meetfngs of the PCC and has the power to transact some urgent business of the PCC between meetings where necessary. Its members are currently the vlcar, churchwardens, treasurer. secretary and three PCC members. Other sub- groups reported to the PCC durlng the year. The members ofthe PCC during the yearwere: Ex- offlclo members Rev Andrew Humm (Chairl Rev Charles Wheeler (from 01107/20231 Rev Miriam Brandon-wheeler (from 0110712023} Caroline Bright (Churchwardenl Shella Hannallah {Churchwardenl {to 27104120231 Andrew Hln8ston (Churchwardenl (from 27104120231 Janet Norris Ichurchwardenl (from 2710412023} Paul Sagar (Churchwardenl (from 27104120231 Elected members Alison Padfield Jennifer Tower Janet Dawe Stephen Clarke Deborah Westlake Terence Norris Rodney Parvess Ito 27104123) Aubrey Mizen (to 271041231 Patrick Bacon {to 0410312023) Katy Baker (from 27104120231 Becky Britton (from 27104120231 Neill Bowler (from 27/0412023 Jillian Partridge Elizabeth Harrlson IDeanery Synod Repl Approved by the PCC on 17 Aprll 2024 and slgned on Its behalf Reverend Andrew Humm
Independent Examlnerfs Report to The Parochlal Church Councll of the Eccleslastlcal Parlsh of Tlverton St George & St Paul I report to the trustees on my examlnatlon of the accounts of The Parochial ChLtrch Council of the Eccleslastlcal Parish of Tiverton St George & St Paul for the year ended 31 December 2023, which are set out on pages 7 to 13. Respectlve responslbllities of the Councll members and examlner The Charity's Parochial Church Councll (the 'PCC'I Members are responsible for the preparation of the financlal statements. The PCC Members conslder that an audit is not required for thSs year under section 145 of the Charlties Act 20111'the Charities Act'l and that an independent examlnation is needed. It is my responslbility to.. examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the General Directions glven by the Charity Commission lunder Section 14515llbll of the Charitie5 Act, and to state whether partlcular matters have come to my attentlon Bas15 of Independent examlner's statement The charity's gross Incorne exceeded £250,000 and l am qualified to undertake the examinatlon by being a qualified member of the Associatlon of Chartered Certified Accountants. My examinatSon was carried out In accordance with General Direction5 given by the Charity Commlssion. An examlnation includes a review of the accountlng records kept by the Charity and a comparison of the flnancial statements presented with those records. It also includes consideratlon of any unusual Items or disclosures in the financlal statements and seeking explanatlons from the PCC members concerning any such matters. The procedures undertaken do not provide all the evldence that would be required in an audit and consequently no opinion Is given as to whether the financial statements present a 'true and fair, vlew, and the report Is Ilmlted to those matters set out in the statement below. Independent examlnerfs statement In connection wlth my examination, no matter has come to my attentlon: l. whlch glves me reasonable cause to believe that, In any materlal respect, the requirements.. to keep accounting records in accordance with section 130 of the Charities Act,, and to prepare accounts which accord wilh the accounting records and comply with the accounting requirements of the Charltles Act and the Statement of Recommended Practice applicable to charities, have not been met,, or 2. to whlch, in my opinion. attentlon should be drawn in order to enable a proper understandlng of the accounts to be reached. R Mugford Certified Accountant 21 Angel Hill Tiverton Devon EX16 6PE 16 April 2024
ST GEORGE & ST PAUL TIVERTON STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023 Unrestricted funds General D081gnated Noto 2 Note 3 Rg¥trl¢ted Endowmént Funds FLtnds Note 3 Note 3 2022 Notes Total Total Income and endowments Donations and legacieg Qlher trading activities Investment Income 190,435 11,390 11,597 30,000 82,406 302,841 11,390 12.755 264.471 12,760 12,143 186 972 Total Income 213,422 30,186 83,378 326,986 289,374 Expendllurg Fundraising Church activilles-. Staff Costs Common Fund Eslablishment Expenses Improvement and major repairs Ministry Expenses Office and Miscellaneous Donalions and mission giving 1,570 13.647 116.969 30,247 53,692 67,339 116.969 30,247 67.666 27,358 8,139 17,941 66.4go 116,134 83.531 5,392 21,416 10,602 16.550 25,681 41,985 11,689 15.669 8,098 17.691 41 250 Total Expendlture 202.321 25.722 107,616 335,659 321,685 Net Incomè before Investment galns 11,101 4,464 {24.238} (8,673) (32,311) Investmgnt galnslllos$os) 2,077 3.130 Not Incomè 11.101 4,464 {24.238) 2,077 (6,596) (35.441) Transfers betwèèn fund$ (5,5001 5,500 Net movom&nt In funds 5.601 9,964 (24,238) 2,077 (6.596) (35,4411 Fund Balancos Brought FoFward 35,033 45,503 53,224 24,438 158.198 193,639 Fund Balanc•$ Carrled Fonvard 40,634 55,467 28,986 26.515 151,602 158,198
ST GEORGE & ST PAUL TIVERTON 8AL4NCE SHEET 31 DECEMBER 2023 Notes 2023 2022 FIXED ASSETS Investments 26,515 24,438 CURRENT ASSETS Debtor5 and Prepayments Cash al Bank and in hand 41,513 110.523 4,492 154,244 152.036 158,736 REDITORS., •mount$ falllng du¢ wlthln one year 26,949 24,976 26,949 24,976 NET CURRENT ASSETS 125,087 133,760 NET ASSETS 151,602 158,198 FUNDS UnTeslriGled General Fund Designated Funds 40,634 55,467 35,033 45,503 96.101 80,536 Reslricted 28.986 53.224 Endowment.. 26,515 24,438 55,501 77,662 151.602 158,198 Approve by Ihe PCC on 17 April 2024 and signed by: Reveren Chair Andrew Humm Carollne Bright Churchwarden
ST GEORGE & ST PAUL TIVERTON NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2023 ACCOUNTING POLICIES Basis of Pre aralion of the Accou The PCC is a publie benefit enlity within the meaning of FRS 102. The financial slalemenls have bèen prepared in accordance with the Chur¢h Accounting Regulations 2006 and with the Statement of Recomm8nded Practice on Accounting and Reporting by Charities preparing their accounis in accordanco with the Financial roporting Standard applicable in the UK and Republic of Ireland (FRS 1021 issued on 16 July 2014. Funds Endowmont funds ara reslricled funds that must be retained as Irusl capital either permanently OT subject lo a discretionary power to spend capital as income. and whare the use of any income d8rlved from th8 capital may be reslricled. Reslricled lunds are income funds representing donations or grants received for a specific object or Invited by Ihe PCC for a specific objèel. The funds may only bo expended on the specific object for which they are given. The PCC does not usually invest separaloly for each fund. Wh8re Ihere is no separate inveslmenl, interesl is apportioned to individual funds on an average balance basis. Designated funds ale unieslricled income funds that have b88n designated foi futur8 proje¢ls by lh8 PCC. These funds remaln unrestricted and may be moved lo other funds if so decided. Unrestrlcted funds are general income funds which can b8 usad for PCC ordinary purposes. Income Voluntary Incom8 Planned giving, collecllons and donations are recognised when received by or on behall of the PCC. Income tax recoverable on gift aid donations Is recognised when the income lo which they relate Is recognised. Grants and legacies lo the PCC are accoun18d for 8s soon as the PCC is notified of 115 legal enlillemenl and tho amounl due. Other Ordlnary Income Réntal income from tho lelling of Church premises is recognised when the rental Is duè. Income from Investments Interest Is accounted for when feceivable. Tax recoverable on such Income is recognised in the same accounting year. Volunteer help The value of any voluntary help received is not included In the accounts bul is described in lh8 Iruslees, annual reporl. 10
ST GEORGE & ST PAUL TIVERTON NOTES TO THE ACCOUNTS YEAR ENDED 31ST DECEMBER 2023 ACCOUNTING POLICIES {CONTINUEDI endilure and liabllllles Grants and donalions are accounted for when paid over, or when awarded. if Ihal award creates 8 binding obligation on the PCC. All other expenditure is recognised when it is incurred and is accounted for gross. Credllors are measured al settlamènt amounls less any Irade discounts Fixed Asset8 Consecrated and bonefice property is excluded from lh8 accounts by Saclion 9212llal of the Charities Acl 1993. No value is placed on movabl8 Church furnishings held by Ihg Church Wardens on special Irusl for th& PCC and which require a faculty for disposal since the PCC considers this lo b8 inalienabla property. All expenditure incurred during the year on consecrated or benefice bulldings and movable Church furnishings, whether maintènance or improvement, is wrillen off as expenditure in the Slalemenl of Financial Activities and separately dlsclosed. Flxed assets bought by the PCC for Church use 8nd charged to resèrves in lh8 year ol expendSture include the followlng:_ Sound equipment in51alled in the Chureh. l T equipment in the Church and office Cameras, audio and visual equipment lo enable live streaming of church services Moveable furnishings in the Church and extension. Debtors Debtors are recognised 81 th8 selll&menl amount after any trade discounts Inveslments Inveslments quoted on a Tecognised stock exchange are valued al market value al the year end. Other inveslmenl assets are included at the PCC'S besl estiwnale of market value. 11
ST GEORGE & ST PAUL TIVERTON YEAR ENDED 31 DECEMBER 2023 NOTE 2. ANALYSIS OF UNRESTRICTED GENERAL FUND 2023 2022 INCOME Voluntary Incomè Church Collections Gift aid donalions and Free Will 0118rlngs Grants Other donalions Income Tax recoverable 7,630 169,279 514 6,638 6,374 7,334 146,520 2,560 6,011 6.368 190,435 168,793 Incom• from Church actlvltlès Church Rooms Sl George's extènsion lelling Lelling of churches Fees Miscellaneous 1.675 5.558 780 3,377 2.085 3.743 1,488 5,018 195 11.390 12,529 Income from Inv$8tments Inleresl Income from let property TOTAL INCOME 1,107 10,490 11,597 485 10200 10.685 213,422 192.007 EXPENDITURE Staff Costs Salarigs Vicar and Curate's Expenses 12,258 1.389 13,647 116.969 15,947 319 16,266 116,134 Common Fund Establlshment Expenses Cl&aning and gardening Heal, Llght and Water Insurance Mlnor Repalrs and Renewals Church Rooms expenses Church Extenslon expenses Church flats upkeep 2,723 7,017 7,363 2,148 6,347 4,649 2,761 7,245 6.867 3.576 4.849 4,330 202 29,830 30.247 Mlnl$lry Expenses Worship Malorials Outreach Expenses Equipment repairs and maintenance Courses, training and subscripllons 1,282 9.746 2,101 8.988 4,641 15,669 5.903 16,992 Offlce and Mls¢èllahèQU3 Postage, slallonery. telephone Equipment repalrs and maintenance Fundraising expenses Miscellaneous Governance- Examiners foe 1.615 2.777 1,829 1,931 25 3,851 1,008 8,644 16,550 2,602 1,104 8,098 17,691 Oonatlons to mls$lDns TOTAL EXPENDITURE 202,321 204.416 SURPLUSIDEFICIT FOR THE YEAR 11,101 -12,409 12
ST GEORGE & ST PAUL TIVERTON NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023 At1 January Incomlng Outgolng 2023 resources resources Transfers At31 Dgcgmber 2023 3. MOVEMENTS IN FUNDS Unreslrlcted funds General fund (see note 2) 35,033 213,422 202,321 {5,5001 40,634 Deslgnated funds Funeral donallons 396 396 Fabric Fund 13,338 69 13.894 13,658 13,171 30,000 3,035 Legacy reserve Oulfeach and evangelism Sl Paul's roof repairs and lighting Church Rooms refurbishment 30.000 3.035 18,166 6.103 4,200 265 117 9,625 2,162 18,6581 3,942 4,700 224 Minibus fund 500 Equipment fund Total designated funds 41 45,503 30,186 25,722 5.500 55,467 Total unrostrlclèd funds 80,536 243,608 228,043 96,101 Restrlctod funds Fabric Fund: St George's Antioch Fund 11.188 1,055 378 214 3,119 250 8,283 805 Alphalmission Church Rooms refurblshmenl Staff salaries {Th8 Brewn TrLisI} C F Drew Legacy income Hardship fund Lunch on th8 Go 378 13.467 54.404 758 9,339 53.692 4,128 722 10 5,704 4,368 1,375 1,203 7.187 31 2,796 1,300 2,265 3,666 3,068 1,944 1.626 2,834 485 Sl Paul's Bell Tower 62 l T Upgrade Shoebox Chrislmas Appeal Flowers for Church 3,466 31 3,721 40 20,215 40 Sl Paul's roof repairs and lighting Children and Youlh minislfy Summer Camp fund Total restricted funds 9,250 512 29,465 512 470 53,224 1,454 83,378 1,279 107,616 645 28,986 Endowment funds C F Drew Legacy 24,438 2,077 26,515 Total funds 158,198 329.063 335.659 151,602
ST GEORGE & ST PAUL TIVERTON NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023 3. (CONTINUED) Descrlpllons of Fund$ The 8rewln Trust. This charills objects are to further tho work of the Chvrch ol England in the parish of Sl George and Sl Paul. The trustees are the vicar and wardens. Duruing Ihe year grants were made towards staff salaries and Church Rooms refurbishment. C F Drew Legacy. The Income from this endowment fund 18 paid into a restricted income fund where it may be applSed to any ecclesiastical or lay purpose to assist the vicar. st Pauls roof repalrs and lightlng. This fund (both designated and reslficted} has been established to carry oul major repairs to the roof and to overhaul the church lighting. Outreach and evangelism. This fund derives from the closure of the charity known as The Calharine Muriel Penny Ministry Trust (Charity Commission 294686). The funds have been designated for use in oulreach and evangelism. AntloGh Fund. This fund provides assistance for Individuals and groups from the fellowship who are undertaking mission prolecls and are not otheiSe fully financially supported. st Paul'5 Bell Tower. Donallons r8ceived to SLTrpporl the bellringing activity Lunch on the go. Funds provlded for community projects offering refreshmenls and social space. Showbox Chrlstmas Appeal. Donations for Christmas gifts for overseas children. Summor Camp fund. Providing support for youngsters allending summer camp Legacy Resorve. A designated fund relating lo a legacy lo be used al the discretion of the PCC. 14
ST GEORGE & ST PAUL TIVERTON NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2023 4. INVESTMENTS 8808.98 COIF Charities Ethical Investment Fund vnils.. Opening value Increase in value 24,438 2.077 Mafkel value al end of year 26,515 2023 2022 5. DEBTORS Income tax recoverable Legacy Olher deblors 2,769 30,000 8,744 1,692 2.800 41,513 4,492 6. CREDITORS Goods and SeIceS Other creditors Accruals 3,922 3,510 19,517 2,745 2,871 19,360 26.949 24,976 7. EMOLUMENTS OF EMPLOYEES During the year the PCC employed a parl Ilme adminislfalive assistant. a youth minister, a children and families minister and a cleaner. The gross amounls paid during (he period were £67,337 (year to 31 December 2022.. 67,473)- No Employer's National Insurance was paid (year lo 310ecember 2022= nll) Oeflned conlribulion pension costs were £1,372 (year to 31 December 2022.. £1.341) 8. RELATED PARTY TRANSACTIONS Vicar's and curate's expenses amounting lo £4,184 {year to 31 December 2022.. £1,793) were reimbursed during the year. No remuneration or reimbursements of expenses were made to other PCC member9. Voluntary income includes donallons of £28,210 made by PCC members and connected parties. 9. SUMMARY OF ASSETS BY FUND Unrestrlcted funds Restricted Endowment General ieslgnated funds funds Total Investment fixed assets 26,515 26,515 Current assets 67.583 55.467 28,986 152,036 -26,949 Current liabilities -26,949 40,634 55,467 28,986 26,515 151,602 15