Aa The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul, Tiverton Annual Report and Financial Statements For the year ended 31" December 2024 Addre55for correspondence.. The Porish Office, 5t Paul's Church, Church Street, Tiverton, EX16 SHU Vicar.. The Reverend Andrew Humm Independent Examiner.. Mr R Mugford FCCA 21 Angel Hill Tiverton Devon EX16 6PE Bankers.. CAF Bank, 25 Kings Hill Aventje, Kings Hill, West Malling, Kent, M E19 4JQ Registered Charity Number 1175137
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul, Tlverton Contents Page Annual Report Independent Examiner's Report Statement of Financlal Actlvities Balance Sheet Notes to the Financial Statements io
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul, Tiverton Annual Report 5t for the year ended 31 December 2024 Aim and Purpose St George's and St Paul's Parochial Church Council (the PCCI has the responsibility of cooperating with the Incumbent, the Reverend Andrew Humm, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC is responsible for both St Paul's church, with its church rooms and the church flats and for St George's church and its extension. Objectlves and Activities The Parish has a relatively stable population and is within the 25% most deprlved parishes in England, with particularly high levels of deprivation within the West-Exe area where our main venue St Paul's Church and St Paul's Church Rooms are located. We are a lively Anglican church, for all ages, seeking to serve others and be transformed in the love of Jesus Christ. Fully embedded in our local community in Tiverton, Devon. With over 1512023.. 201 outreach services to reach all parts of our community, including.. families, children, homeless, older people and youth. In addition we have more than 1012023: 101 different services supporting our congregation of 200 + active p2rticlpants. 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 the wider community of Tiverton. When planning our activlties, the PCC has considered the Charity Commission's guidance on public benefit. and in particular the specific guidance to charitles for the advancement of religion. Our church benefits over 60012023.. 7001 people each week, through regular church services,. groups that reduce loneliness Such as Tiddlers and Toddlers and the Living Room for vulnerable people, and others that bring people together such as our com munity choir, Take Note. New ventures this year included a Men's weekend away and regular "Who let the Dads out" sessions for fathers and grandfathers of young children. We are very privileged to be a broad intergenerational community with different services and needs to be met therein. Our team includes 8 Vicar, two curates lone of whom was on maternity leave until July 20241, a full time Children's and Families Minister, a full time Youth Worker luntil September 20241, a part time administrator Ifrom March 20241 and a part time book keeper (from June 20241. The paid staff are supported by a large and committed volunteer team of Readers, Ordinands Iuntil May 2024 and from September 20241, SWYM Trainee Ifrom September 20241, retired Clergy, Church Wardens, Treasurer and active PCC. We are fortunate to have particularly high levels of engagement with young people in the community. The congregation has continued to Eenerously support a variety of youth activities both financially and
with their time including a variety of youth events, activities, a mentor ing service and residential camps. This has allowed us to bulld strong relationships and help young people in the community to grow and feel loved and appreciated, even in challenging times and situations. Achievement5 and performance Worship Jnd Prayer We have lively Facebook, Instagram and YouTube accounts to keep our church commurilty and our neighbour5 connected through regular updates, prayers and reflections. We have continued to live stream our Sunday Services as we have foLJnd that this is a n important way of engagi ng with those who find it challenging to attend services in person. We have, however, struggled in recent month5 to have enoLtgh volunteers to support this activity. The PCC is keen to offer a range of services, not only on Sundays, but also during the week, that our community will find both beneficial and spiritually fulfilling. For example, Thursday morning Services of Holy Communion continue to provide a traditional form of service. A prayer chain for support and pastoral visiting of the infirm, visiting people in hospit31 or those unwell in their home, The living room, a free drop in café for conversation, prayer, cake and refreshments As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. There have been 11 baptisms of children and adults, 3 weddings and 23 funerals during the year. Deanery Synod One member of the PCC sat on the Cullompton and Tiverton Deanery Synod until S November 2024 and our Vicar serves as the Rural Dean. This provides the PCC with a link with the churches around us, and also with the Diocese as a whole. It also receives reports from the General Synod. Amongst the items discussed at meetinES were the rural farming network providing spiritual support to those in the farming community, Rev Nathan Kigara from Torbay talking about churches working together across a deanerv, plus community support for parish church activities around the coronatlon. Church Fobrlc 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 churchyard at St Pau15. The St Georges graveyard is closed and is the responsibility of the local authority, Mid Devon District Council. The buildings in regular use for public events 1st Paul's Church and St George's Church Extension) are fully accessiblewith entrance ramps, accessible toilets and baby changing facilities. St Paul's Church also has a hearinE loop and an audio-visual system with big screens. Whilst remaining a licensed place of worship, for practical reason5 no regular services have been held in St George's Church since October 2014. Work has included installing Swift boxes in the tower5, replastering parts of the entrance to St Paul's and plaster repairs in the vestry, guttering replacement around the church rooms. St Paul's Church Rooms provide a range of room sizes, toilets and baby changing facilities.. but Is not ful accesslble with some steps from street level to the ground floor, and the first floor only accessible by the two staircases. Plans for a complete reconfiguration and renovatlon of thi5 building, including full
accessibility and the installation of a lift to the first floor have been drawn up. Planning permission and conservation area a pproval have been achieved, but the work can only be completed once sufficient funds have been secured. The Church Rooms project provides a vision to allow the Church to do even more to engage with and support our local community throudh the facilities provided by a much enhanced venue. During 2024 the PCC participated In the Give To Go Green campaign to ralse funds to renovate the windows in the Church Rooms as the first phase of the renovations and improve the building's thermal efficiency. In less than six weeks the congregation donated £17,654 including gift aid, and received matched funding of £10,000. Mlsslon ond Evongellsm We alm to enable and encourage 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 tOEether with mission and outreach work Other Actlvlties The activities of the Parish durinE 2024 are fully reviewed in the Annual Report prepared for the Annual Parochial Church Meeting. It has been a privilege to be part of such a thriving compassionète church community which seeks to serve the needs of its local community and support and care for each other. It has been another busy year for the PCC and Church Wardens who have met 6 times and given the green light to a number of projects as well as supported the vicar and staff team in carrying out their duties. Although the Church has now fully settled in to a post Covid-19 pandemic rhythm, we continue to notice the impact of the pandemic and the increases in the cost of living upon many in our deprived neighbourhood. In addition to offering Sunday and mid-week services, our volunteers take the Church to many homes for home groups. At our local secondary school, we run a Christian Union, provide mentoring services and lead assemblies whilst in the locol primary school the team bring 'open the book, a collective worship experience, assist on school trips, have provided pastoral support when a teacher died this year and created space for chlldren to explore their thoughts and feeling. Messv church twice a year saw attendance from children and parents across the community. FUSION our weekly after school club told bible stories and games. A summer club was held once weekly throughout the summer holidays. Our weekly Charge youth group for 11-18 year olds is a thriving group that has a typical attendance of around 30 young people across the whole age range and provides a vital social and support space both for children whose familie5 regularly attend church and for those who have never attended a service. We also offer Discipleship groups for 11 years pl us, givlng them space to ask questions about the Christlan falth. We also offer Discipleship groups for 11 years plus, giving them space to ask questions about the Christian faith. We work closely with local charitles to help provlde our communlty wlth the services it needs to support everyone. We continue to provide free food to around 160 people at our weekly Breakfast on the Go event, which has a p3 rticular focu5 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 behavlour of the children. In a similar veln, 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
homelessnes5 charity, CHAT Ichurches Houslng Actlon Teaml, 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 Financlal Revlew The total unrestrlcted income for the year was £226,25212023.. £243,608- which included a £30,000 legacy). The £152,07212023.. £83,382) of restricted income includes £IO,00012023.' nil) of matched funding from Give to Go Green and £50,84412023.. £54,404) f rom the Brewin Trust in support of staff employment costs. Unrestricted Income from the Parish Giving Scheme, standing orders, CAF accounts, Stewardship Accounts, the contactless terminal and cash tot311ed £201,28712023- £189,466). Of this total the Parish Glving Scheme made up £148,410174%1 with many givers generously increasing the giving by inflation. The PCC receives rental income f rom renting the church rooms, the Churches, St Georges Extension and the Church Flats. We spent £298,81012023'. £335,664) to provide Christlan ministry in the parish, including the contribution to the Diocesan Common Fund which largely provides stipends and housing for the clergy. This is the amount that the churches in the diocese are asked to contribute to cover these costs. It is calculated by a formula based mainly on the head count of the congregation. The expenditure includes £8,80912023.. £67,666) spent on major improvements to the church building including replastering work. The PCC has given approximately IO% of the year'5 generated unrestricted income to charitie5 of their choice (TEAR Fund, Church M ission Society, The Bible Society and Churches Housing Action Tea ml. These donations are Included within "Missionary and Charitable Giving in the accounts. The net result for the year was a surplus of £79,51412023.. deficit £8,6731 before gains on investments. After adjusting for gains on investments, the net income for the year was £80,24212023.. deficit £6,596). Reserves Policy The PCC'S policy is to hold free reserves broadly equivalent to 3 months, general expenditure & salaries, one month's Common Fund and £2,000 for unforeseen repairs a total of c£44,600. This policy is sei for the following reasons.. l. To manage cash flow and contractual obligations,. 2. In case of significant building maintenance being required,. and 3. Against loss of income whilst buildings are not available for rental. The PCC has set a budget for 2025 with a deficit of £19,000. This deficlt Is largely due to increases in the cost of living. The PCC were willin8 to approve a deficit budget as expenditure will be reviewed throughout the year against projected and actual income and spending can be reduced if deemed necessarv- The total net assets as at the year-end were £231,844, and of these, £103,423 are restricted re5erve5 and £27,243 are endowed. The remaining unrestricted funds total £101,178 of which £52,371 are
designated leaving £48,807 unrestricted general funds as re free reserves held by the PCC,. this is £4,207 in exce55 of the reserve5 policy by £44,600. Going Concern The financial statements have been prepared on the going concern basis. There are no material uncertainties related to events or conditions that may cast significant doubts upon the PCC'S abillty to continue as a going concern. Safeguarding The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 (duty to have regard to House of Bishops, guidance on safeguarding children and vulnerable adults). A safeguarding team of f ive volunteers look after all areas of safeguarding in church including the safer recruitment of all volunteers and ensuring all have appropriate training and DBS 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 Diocesan Safeguarding Team. Volunteers One hundred and sixty two12023'. One hundred and sixty six) member5 of the church serve as volunteers across a number of teams,. f rom AV to welcoming and Breakfast on the go to worship. Ministering to our church members and the wider community many of our activities would not be possible without the faithful service of our volunteers. Structure, Governance and Management The method of appointment of PCC member5 15 Set out in the Church Representation Rules. The Council comprises the Incumbent, the Churchwardens, those elected to the Deanery Synod, and other members who are elected at the Annual Parochial Church Meeting by those on the Electoral Roll. Members of the congregation are always encouraged to join the Electoral Roll, and to consider standing for election to the PCC. The PCC members are responsible for making decisions on 311 matters of general concern and importance in the parish, and for all financial matters. The f ull PCC met elght times during the year and the average level of attendance was 70Yo. The Standing Committee consists of the Vicar, Churchwardens and Treasurer. This is the only committee required by law and has the power to transact business of the PCC between its meetings, subject to any direction of the Council. It meets every other month between PCC meetings or as required. PCC has not needed nor established any other sub committees. HR team is a reporti ng Eroup to the PCC which look5 after the needs of paid staff, and brings policy and best working practice to the PCC for approval, there are no formal minutes but notes of meetings are recorded.
Administrative Infoimation The parish of St George and St Paul comprises St George's Church which 45 Sltuated in Fore Street, Tiverton and St Paul's Church which is situated in Church Street, Tiverton and is part of the Deanery of Cullumpton and Tiverton, in the Diocese of Exeter. The correspondence address is The Parish Office, St Paul's Church, Church Street, Tiverton, EX16 SHU. The PCC is a body corporate IPCC Powers Measure 1956, and the Church Representation Rules 20221 and registered with the Charity Commission, Charity Number 1175137.PCC members who have served from 1st January 2024 until the date this report was approved were.. Ex Officio The Incumbent Curates The Rev Andrew Humm The Rev Charles Wheeler The Rev Miriam Brandon-wheeler Chair Churchwardens Caroline Bright Andrew Hingston Janet Norri5 Paul Sagar Mrs Elizabeth Harrison Mrs Kathryn Baker Mr Nleil Bowler Mrs Rebecca Britton Mr Stephen Clarke Mrs Janet Dawe Mr Richard Flower Mrs Clare Fitzherbert Mr Paul Friend Mr Anthony Killeen Mr Terence Norris Mrs Alison Padfield Mr5 Jillian Partridge Mr Robert Syers Mrs Jennifer Tower Mrs Deborah We5tlake Until 24 April 2024 Deanery Synod Reps Elected Members Untll 25 October 2024 Until 24 April 2024 Treasurer from 24 Aprll 2024 From 17 April 2024 From 24 April 2024 From 24 April 2024 Treasurer until 24 April 2024 Until 24 April 2024 From 24 April 2024 Key management personnel include all members of the PCC as well as the Youth Minister, Children and Families Minister, PCC Secretary. Approved ty the PCC on 26 March 2025 andsigned on Its beholl by.. Rev Andrew Humm {Chair) Mr Richard Flower (Treasurer)
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examlner's report on the accounts Independ2nt EMBrninerls Report Reportto thetru¥tees of Sl Geoige and St Paul PartKhial ChUh Counril On accounts forthe yoar ended 31" December2024 Chorlty no 1175137 Set outon poge¥ 8-20 Re¥pectnie The chartty's Irustees ère we¥ponsible lor the preparatlon olthe accounts. re8pon8lbllllle& of Thè chaTity'¥ tsu¥leE¥ ronshlerlhat an audlt Is not requlied for th18 year tru%tee% and examlner nder section 144 of Ihe Charitres Acl 2071 Ilhe Charitles Act) and that an Indeptrndént examiatiOn is needed. It my re&ponslbility to-. examine the accounts underseCt)n 145 ofthe Charilies Acl, to followlhÈ procedures laid ¢Jown in the genewal Direc115 given tythe Charily Commis¥ioD (under seE"0n 14515llbl ofihe Chawits"eE Acl, and to slateivhelher rnatteTr have come lo rny attenlon. Balis of ifidependent The chanty's gross Income 8xceeded £250.000 quafthfjd tD trxatnlnei B ¥tatement undertakethe eKamlnation by bekng a quallffèd rnemberofthe A8sodalon ol Chartered Certified Accounlanls. My examinats.on was carried out In aceordanttr with geneial Diiection5 given by Ihe Chaiity Comrnission. An examination includes a reey1 of the accounting iecords kept by the chanty and a comparfson oflhe a¢counls presented viith those records. 11 $0 Includes corn8ldeiallon of any unusual Mems ar disclosures in the accounts, and seeking eWanation8 frorn the Irth51ees conceminu any 5Ch wnalters. The procedures undertaken do Flot prode allthe ewdence Ihatwould be required in an audit. and consequenuy no oixnlon 1$ given as to whelherthe accounts pre5enl a Irue fair view and the reporf Is Ilmlled to Ih08e matters sgt out Ihe stalement bEIo%¥. Indgpondent In ConnecOn wlth my e¥0mlation. Thaterial matters have tv my oxamln8f6 Slatement attelknn which give5 Cause lo belleve Ihat . any Materi re5pecl.. accouting recordswere 01 keptln accordance with 5ectlon 130 01 the Chatitieg Act 01 the accountj do not accord •th Ihe accounting fecords I have come across no olherrnatters In cOneC110n wlth Ihe examlnallon to vINch altentlon shgu be drown in ordwto enabte a pwoper undeJBlandlng ofthe aetothnl8 to be reached. Slgnetl: Dotr.. 26 March 2D25 Name: R Mugfor Refev8nt proleBsional qualific&tion Felow ofiheAssoclab"on olchartered Cerbffied AccouTrlanls Addres: 21 Angel HUI, Thtrton, EX16 6PE
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The Parochial Church Councll of the Ecclesiastical Parish of St George & St Paul, Tiverton BALANCE SHEET at 31 Do£ember 2024 2024 2023 Notes FIXED A5SErs Investments 27,243 27,243 26,515 26,515 CURRENT ASSETS Debtors and prepayments Cash at bank and in hand 15.607 219,612 41,513 iia,523 235,219 152,037 LIABILITIES Creditors- amounts falllng due within one year 30,618 26,950 Net current assets 204,601 231,844 125,087 151,602 Total assets less current liabllltles NtrAssErs 231,844 151,602 PARISH FUNDS Unrestricted reserve5 General Designated 48,807 52,371 101,178 40,643 55,462 96,105 li Re$trlrted reserves li 103,423 28,982 Endowment Fund 27,243 26,515 231,844 151,602 These financial statements were approved by the PCC on 26 March 2025 and were signed on its behalf bv: ELU/4 RevA drew Humm PCC Chair Mr Richard Flower PCC Treasurer
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul. Tiverton NOTE5 TO THE FINANCIAL STATEME NTS Year Ending 31 December 2024 Accountlng pollcies Basis of preparation The financial statements have been prepared under the Charities Act 2011 and in accordance with Church Accounting Regulations 2iJ)6 togetherwith the Charities Statement of Recammended Practice ICh3rities SORP 2015 IFRS 10211 and Financial Reporting St3ndard 102 IFRS 1021. The financial statement5 have been prepared underthe historiccost convention exceptforthe valuation of investment assets, which are shown at f3irvalue. The PCC meets the definition of a public benefit entity under FRS 102. The financial Statements are prepared in sterling, which is the functional currency of the PCC. Going concem The financi315tatements have been prepared on the going concern basis. There are no material uncertainties related to events or conditions that may cast significant doubts upon the PCC'S ability to continue as a going concern. Funds General funds represent the funds of the PCC that are not subjert to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds design8ted for a particular purpose by the PCC are also not restricted. Restricted funds are income funds that must be spent on restricted purp05e5 and details of the fund5 held and restrictions provided are shown in the notes to the accounts. Endowment funds are moneyor otherassets 8iven to the PCC for investment. Only the investment income can be spent. The financial statements include all trar15aclions, assets and liabilities for which the PCC is responsible in law. Theydo not include the 3ccount5 of the church groups that owe their main affiliation to another body nor thase that are inform31 gathering5 of church members. Income Donations and legacies planned giving, collections and general donations are recognised only when received. Gift aid recoverable on donations Is recognised when the donatlon is recelved. Grants and legacies to the PCC are recognised as soon a5 the PCC is notified of its legal entitlement, the amourit due is quantifiable and its ultimate reIpt by the PCC Is probable. Charitable octivities Income from church fee income is recognised when the fee Is due. Income from activities is accounted for gr05S. Other troding octivities Rental income 15 recogn15ed when the rent is due. Where income is received in advance, it is recognised in the year In which the event takes Pla that it relates to. 10
The Parochial Church Council of the Eccleslastlcal Parlsh of St George & St Paul, Tiverton NOTES TO THE FINANCIAL STATEMENTS Vear Endlng 31 Dember 2024 Investments Interest entitlements are 3¢counted for as they accrue. Dividends are accounted for when due and payable. Accountlng pollcSes Icontlnuedl EKpendlture Raising funds Expenditure on raising funds is accounted for on the accruals basis. Choritttble activities Expenditure on charitable activities is accounted for c>n the accruals basis. The diocesan common fund 15 accounted for when payable. Any unpaid amount at 31 December is provided for in these accounts 35 an operational lalthough not legall liability and is shown as a cieditor in the Balance Sheet. Grants are accounted forwhen paid over, orwhen awarded, rf that award creates a binding obligation on the PCC. Tanglble flxed assets Consecroted lond ond buildings t7nd moveable churchfurnlshing Consecrated and beneficed property is excluded from the accounts by s1012llal of the Charities Act 2011. No value is placed on moveable church furnishlngs held by the churchwardens on special trust forthe PCC and which require a facijlty for disposal Sin the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneflced buildings and moveable church furnishing5, whether maintenance or improvement, is written off a5 expenditure in the SOFA and separately disclosed. Otherfixed assets Other fixed assets bought for Church Use are charged to reserves in the year. There was no signif icant Igreater than £l,(ml purchases of fixed assets during the ye3r. Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured attheirfairvalue as at the balance sheet date using the closing quoted market price. The SOFA includes net gains and losses arising on revaluations and disposals throughout the year. Debtors AmoLJnts owingto the PCC at 31 December in respect of fees, rents or other income are shown as debtors less provision for any amounts that may prove uncollectable. These are recognised initially at the settlement arnount. Prepayments are valued at the amount prepaid, net of any trade discounts due. Cash and cash equlvalents Cash and cash equwalents include cash in hand, deposits held at call with banks, and other short-term liquid investments with original maturities of three months or less. Credltors Creditors are recognised when the PCC has an obligation at the balance sheet date as a result of a past event, It is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlementcan be estimated reliably. Creditors are recognised at the amount thatthe PCC anticipates it
The Parochial Church Coun£ll of the Ecclesl35tlcal Parish of St George & St Paul, Tiverton NOTES TO THE FINAMCIAL STATEMENTS Year Ending 31 De£ember 2024 Accounting policies Icontinuedl will pay to Settle the debt or the amount it has received as advanced payment for the goods or servKes it must provide. Financial Instruments The church only has financial assets and liabilities of a kind that qualify as basic financial instruments. All (including debtors and creditorsl are initially reco8nised at transaction value and subsequently measured at their settlement value. Income from.. Unrestrlcted Funds Restrlcted Funds Total 2024 Total 2023 2a) Donatlons ènd leEacles Planned giving Gift aid recoverable Collection5 at services General donations and appeals Don3tion5 Church Rooms Legacies Other grants 159,620 29,771 6,948 3,858 159,620 41,650 6,948 15,893 56,840 139,546 36,889 7,630 1,983 13,4686 30,000 70.358 11,880 12,035 56,840 1,250 70,544 71,794 201,446 151,299 352,746 299,875 2bl Charitable activitles Weddings, Christenings & Funerals Fundraising 5,522 250 5,522 250 3,377 2,971 6,348 5,772 5,772 2cl Othertrading activitiès Church Room's Rental Letting of Churches St George's Extension Letting 1,347 885 3,911 1,347 885 3,911 1,675 780 5,558 6,143 6,143 8,013 2dl Investments Interest Dividends Income from let propertv 602 602 773 12,180 1,507 758 10,490 773 12,180 12,782 773 13,555 12,755 2el Other Income Sale of assets 109 109 109 Totsl Income 226,252 152,072 378,324 326,990 12
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul, Tiverton NOTES TO THE FINANCIAL STATEMENTS Year Ending 31 ernber 2024 Expenditure on.. Unrestricted Funds Restricted Funds Totsl 2024 Total 2023 3a) Charltable actlvltles Missionary and charitable giving (Note 61 Dioces3n common fund Staff Costs (Note 41 Clergy and Staff expenses Mission & Evangelism Church Running Costs Insurance 19,883 115,199 16,103 1,779 8,032 12,046 11,943 13,802 8,810 10,493 625 20,508 115,199 66,947 6,356 26,194 12,046 11,943 13,802 8,810 12,751 19,022 116,969 65,950 4,808 15,201 9,120 10,606 10,461 67,666 14,757 50,844 4,577 18,162 Major improvements & repairs Admin costs Depreclation 2,258 5upportond governance costs Legal and professional fees Independent examiner's fee 3,090 1,164 4,254 1.104 221,179 77,631 298,810 335,664 Unrestricted Funds Restricted Funds Total 2024 Total 2023 3bl Ralslng funds Total expenditure staff costs 2024 2023 Wages and salaries Social security costs Employer's penslon contrlbutions 16,028 49,513 173 1,158 65,541 175 1,230 67,337 73 1,372 16,103 50,844 2024 2023 Average number of employees Average number of full-time equfvalent employees 3.06 During the year the PCC employed a Youth Minister, a Children's and Families Minister, a part time administrator, a part time book keeperand a part time cleaner. The PCC did not employ anyone who eamed £60,0 per annum or more12023.' nonel. Total employee benefits (including pension and employer's national insurance contributionsl to key management personnel was £50,84412023.. £53,692). 13
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul. Tiverton NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 December 2024 Related party transactions Elizabeth Harrison was an elected member of the PCC until 25 October 2024. Elizabeth was also employed as the church administrator and received gros5 Salary of £8.46412023.. £Nill and employer's pension contributions of £7312023.. £Nill. Durlng the year to 31 December 2024, the charity received £67,32912023.. £28,210> in donations from the PCC members, key management personnel and persons closely connected to them. The donors did not attach any conditions to thelr gifts which required the charity to sEnrficantly alter the nature of tS existing activities. clergy and staff claimed expenses of £2,41612023'. £1,389) durlng the year for travel, subsistence, office supplies and the cost of communications. No other tY8n5actions were undertaken with any other PCC member, persons closely connected to them or related parties save for the reimbursement of supplies purchased tor the church. Mlsslonary and charltable giving 2024 2023 Bible Society Church Mission Societv Church Housing Action Team ICHAT) Tear Fund Hardship Grants CPAS 4,908 4,908 4,908 4,908 625 4,431 4,431 4,431 4,431 1,300 250 20,508 19,022 Investments Market value brought forward Disposal proceeds Net gains on revaluation Market value carried forward 26,515 728 Debtors and prepayments 2024 2023 Tax recoverable Pr@payment5 Other debtors General & Congregational Trijst Grant Legacy Give to Go Green 3,724 1,791 62 2,769 1,776 868 6,100 30,000 io,ocrfJ 14
The Parochial church Council of the Ecclesiastlcal Parlsh of 5t George & St Paul, Tiverton NOTES TO TrIE FINANCIAL STATEMENTS Year Ending 31 December 2024 CredStors and accrua15 2024 2023 Trade cdItorS Accruals Deferred income Other creditors 3,988 22,908 3,922 19,517 655 3,510 Movement in fund5 YIE 31 December 2024 Brought forward Gain51 IIos5es) Transfers Carried fonuard Income Expendlture Unrestrlrted Funds General 40,643 226,(93 217,929 48,807 40,643 226,093 217,929 48,807 Designated reseNes Funeral Donations Fabric Fund Legacy Reserve Outreach & evangelism St Paul's roof repairs & lighting Church Rooms refurbishment Mlnlbus fund Equipment f und Total designated funds 396 13,174 30,0 3,028 396 13,174 30,159 3,028 159 3,943 3,090 853 4,700 221 4,700 61 160 55,462 159 3,250 52,371 Total unrestrlLted Funds 96, 105 226,252 221,179 101.178 Restricted reseNes Fabric Fund.. St George's Antioch Fund Alphalmlsslon Church Rooms refurbishment Staff Salaries (Brewin Trust) 8,284 8,284 1,760 2,015 91 1,867 550 376 4,128 78,437 80,697 722 50,844 50,844 722 15
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul. Tiverton NOTES TO THE FINANCIAL STATEMENT5 Year Ethdlhg 31 Dettmber 2024 CF Drew Legacy Income Hardship Fund Lunch ontheGo Breakfast on the Go St Paul's Bell Tower IT Upgrade Shoebox Christmas appeal Flowers for Church 3,665 773 2,529 3,067 1,945 530 2,537 2,699 1,626 3,718 303 383 795 1,545 2,923 St Paul's rool repairs and lighting Children & Youth ministry Summercamp Fund churches Tent- Mid Devon Show Llfepath Take Note 645 2,390 3,650 2,62S 2.046 411 1,605 7,300 3,917 6,5113 2,751 791 1, 166 Total Rè5trlcted Funds 28,982 152,072 77.631 103,423 EndowmentFunds C F Drew Legacv 26,515 728 27.243 Total Funds 298 810 Unrestricted funds Designated funds Funerol DonutlOll5.' Mainly comprised of collectionsldonation from funerals held al St Paul's. The original aim was to Use the earlier donations to have a new communion table built. Fobrlt Fund.. Intended as a 'sinking fund, to bulld up a cash reseNe from generalfunds forfuture fabric repairs/replacements. Legoty Reserne.. A designated fund relating to a legacy to be used at the discretion of the PCC Outreoch & evungellsm.. Thls fund derlves from the closure of the charity known a5 The Catharbne Muriel Penny Ministry Trust (Charity Commission 2946861. The funds have been designated foru5e in outreath and evangelism st Paul's roof repuirs ondLighting15ee also restrictedfundsj This fund wa5 established to carry out major repairs to the roof and to overhaul church lighting. This fund has been ful expended and closed. Church Rooms reAurbishment Opened originally in 2022 with a £8k transferfrom otherfunds. There were no restricted funds until 2023 when appeals were made for specific fundsfor the rooms. This fund is being used largely to fund the preliminary work, fees and planning permissiori etc. to allow the project to proed 16
The Parochial Church Council of the Eccleslastlcal Parlsh of St George & St Paul, Tiverton NOTES TO THE FINANCIAL STATEMENTS Year Èndlng 31 December 2024 Mlnlbus Fund Establishedto asslst with the purchase of a replacement church minibus. The PCC resokned to try to regularly put away some additional funds to eventually allow the purchase of a minibus Iprimarily for youth workl afterthe previou5 one was sold because of its a@e and condition. EquipmentFund Intended as a 'sinking fund, to build up 3 cash reseNe from generalfundsforfuture fabric repa1rslreplarnents Restrlcted fund5 Ft7bric Fund.. St George's Transferred from the parish of St George's at the time of the merger in 2017 this is 3 historical fund that was built up overtime and can only be used for the malntenance of the St George's premises. Antloch Fund This fund provides assistance for Sndlvidua15 and groups from the fellowship who are undertaking mission projects and ère not otherwise fully f inancially supported. It has been used in 2024 to support the SWYM fees of ourtrainee. Alpho/Mission This fundwas transferred across from St George's whenthe parishes merged In 2017 and has been added to from a funeral collection- it may only be used to support Alpha cour5e5, St¢7Af S(4laries fBrewin Trustj The Brewln Trust is a charity (for which the Vicar and Churchwardens Je the trustee51 with objectsare to furtherthe work of the Church of England in the Parish of St George and St Paul. This Fund is used to hold the grant received from the Brewin trust towards staff salaries. CF Drew Lego¢y Income This fund receives the income from the Endowment Legacyand applies to asslst the Vicar (see Endowment Funds) Hordship Fund This fund was established during Covid by an appe31to the congregation and was intend for church members to appw to fora small grant, if suffering hardship as a result of the pandemic. It wasn fully utilised at the time the pandemic came to an end and has continued to be available to support the church membership and local community. Applications are vetted by the vicar and chtjrchwardens. Lunch on the Go/Breakfvston the Go soclal spa Funds provided forcommunityprolects offering refreshmentsand St Puul's Bell Tower Donations received to 5UPPOrt the bell ringing activity ITupgrude This fund originated from a substantial donation to buy equipment to live stream Servi5 during Covid. There was more money than needed for this purpose and the donor agreed that it could be sed for general IT purposes. shoebox chrlstmosAppeul expended an closed Donationsfor christmas Gifts for overseas children. This fund is nowful Flowersfor Church This Fund is now fully expended and closed st Paul's roof repulrs undughtlng (see a150 de5ignutedfundsJ This fund was established to carry out major repairs to the Koof and to overhaul church lighting. This fund is now ful expended and closed chlldren und Youth Ministry This Fund is now fulW expended and closed
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul, Tiverton NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 December 2024 Summercamp Fund Summercamps Donations received to provide financial 5UPPOrt to young people partitipating in Churthes fen¢ MldDevoh show Th15 fund was established to assist the team runnlng the churchesTent at the Mid Devon Show and includes donations from churches and individuals acros5 Mid Devon. It can only be used lo support the Christian activity at the Mid Devon Show Llfepoth This fund was established to assist the team running Lifepath events lor Primary Age Children in Tiverton. Tt7ke Note Community Choir Donations received to support the community choir activity. Endowment funds CF Drew Legucy This funds income may be applied to any ecclesiastical or lay purpose lo assist the Vicai {See Restricted Funds) 18
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul, Tiverton NOTES TO TrIE FINANCIAL STATEMENTS Yeaf Ending 31 December 2024 10 Movement In funds (cont) YIE 31 December 2023 Brought forward Gainsl Ilosses} Carrled fonuard Income Expendlture Transfers Unrestrlcted Funds General 35,041 213,423 202,320 15,5(M)I 40,643 35,041 213,423 202,320 15,5001 40,643 Deslgnated reserves Funeral Donation5 Fabric Funcl Legacy Reserve Outreach & evangelism St P3ul's roof repairs & lighting Church Rooms refurbishment Minibus fund Equiprftent f und Total designated funds 396 13,341 396 13,174 30,000 3,028 69 30,(¥XI 13,895 13,659 3,028 18,169 117 9,627 18,6591 6,103 2,IfA) 3,943 4,21X) 263 500 4,7(K) 221 42 45,499 30,186 25,724 55,462 Total unrestricted Funds 80,540 243,609 228,044 96,105 Restricted reseeS Fabric Fund.. St George's Antloch Fund Alpha/Mlssion Church Rooms refurbishment Staff S31aries {Brewin Trust) CF Drew Legacy Income Hardship Fund Lunch on the Go Breakfast on the Go St Paul's Bell Tower IT Upgrade Shoebox Christmas appeal Flowers for Church St Paul's roof repairs and lighting 11,189 215 3,119 8,284 1,055 376 250 805 376 4,128 13,468 9,340 io 54,404 53,692 722 5,704 758 2,797 3,665 4,367 1,376 1,3(Kl 2,266 3,067 1,945 2,835 1,203 7,185 31 485 62 3466 31 1,626 3,718 20,215 9,250 29,465 19
The Parochial Church Council of the Ecclesiastical Parish of St George & St Paul, Tlverton NOTES TO THE FINANCIAL STATEMENTS Year Ending 31 ember 20Z4 childien & Youth ministry Summer Camp Fund Churches Tent- Mid Devon Show Lifepath Take Note 512 512 470 1.455 1,279 646 Total Restricted Funds 53,220 83,382 107,620 28,982 Endowment Funds C F Drew Legacv 24,438 2,077 26,515 Total Funds 158,198 326,990 335,664 2,077 151,602 11 Analysis of Assets and Ilabilities between funds 2024 Unrestrlcted funds Re5trlrted Endowment funds funds Total Investment5 Debtors and prepayment5 Cash at bank and in hand 27,243 27,243 15,607 219,612 130,6181 11,0971 127,880 125,6051 101,178 16,7C 91,732 15,0131 103,423 Net assets 27,243 2023 Investments Debtors and prepayment5 Cash at bank arid in hand Current Ilabilities 26,515 26,515 41,513 110,523 126,9501 34,632 84,729 123,2561 6,882 25,FJ4 13.6941 Net assets 26,515 20