The Parochial Church Council of the Ecclesiastical Parish of Tiverton, St George & St Paul Annual Report and Financial Statements For the year ended 31st December 2025 Addre55for correspondence.. The Parish Office, St Paul's Church, Church Street, Tiverton, EX16 SHU Vicar.. The Reverend Prebendary Andrew Humm Independent Examiner: Mr R Mugford FCCA 21 Angel Hlll Tiverton Devon EX16 6PE Banker5.' CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 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 Financial Activities Balance Sheet io Notes to the Financial Statements li
The Parochial Church Councll of the Eccleslastlcal Parlsh of Tlverton, St George & St Paul Annual Report for the year ended 31" December 2025 Aim and Purpose St George's and St Paul's Parochial Church Council (the PCCI has the responsibility of cooperatlng 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 Artlvltles St George and St Paul Parish serves a community with a relatively stable population and is situated within the 25% most deprived parishes in England. Levels of deprivation are particularly pronounced in the West-Exe area of Tiverton, where the parish's principal facilities, St Paul's Church and St Pau I's Church Rooms, are located. These local circumstances shape the mission of the church and inform the PCC'S prayerful discernment and planning of its activities, St George and St Paul is an Anglican parish church with the charitable purpose of advancing the Christian faith for the public benefit. Rooted in the worship of God and the teaching of Jesus Christ, the parish seeks to share the E05pel, nurture di5ciple5, and serve the community in word and action. The church welcomes people of all ages and backgrounds and is fully embedded within the life of Tiverton. Devon. This mi55ion is expre55ed through regular acts of public worship. pastoral care, teaching, and more than 15 outreach initiatives that serve families, children, young people, older people, and those experiencing homelessness. Alongside this, the parish provides over 10 regular services12024.' 101, Eroups, and minlstries that support and sustain a congregation of over 200 active participants. As a parish church, St George and St Paul exists to serve all within the parish and the wider communityi offering welcome, comfort, prayer, and support to all who seek it, regardless of faith or church membership. The Parochial Church Council IPCC} is responsible for ensuring that the church's mission and activities are carried out in furtherance of its charitable purpose and for the public benefit. In planning and delivering its activities, the PCC has had due regard to the Charity Commission's guidance on public benefit, including the specific guidance relating to the advancement of religion. Through its worshipping life and community engagement, the church benefits more than 600 people each week. Public benefit is provided through open and accessible worship services, opportunities for prayer and Christian teaching, and a range of activities that respond to splritual, social, and pastoral needs. These include groups that seek to reduce loneliness ar¥d isolation, such a5 Tiddlers and Toddlers for pre schoolers and The Living Room for vulnerable adults, as well as initiatives that foster communitv and spiritual exploration, including the community choir, "Take Note" and run the Alpha course twice 12024 once), which introduces participants to the foundations of the Chrlstian faith.
We are very privileged to be a broad intergenerational community with different services and needs to be met therein. Our team includes a Vicar, two curates lone of whom was on maternity leave from June 20251, a full time Children's and Families Minister, a part time administrator luntil June 2025 and from September 20251 and a part time book keeper. The paid staff are supported by a large and committed volunteer team of Readers, an Ordinand from September 20241, SWYM Trainee (until August 2025}, retired Clergy, Church Wardens, Treasurer and active PCC. As a church we were especially pleased that during the course of the year the contribution made to the community by our Vicar was recognised bv the Bishop installing him as a Prebendary of the Cathedral In the past we have had high leve15 of engagement with young people in the community. Unfortunately we have not been able to fill the vacant post for a new youth worker and this has curtailed some of our activity. The congregation has continued to generously support a variety of youth and children's activities both f inancially and with their time. Achievements and performance Worship ond Pruyer The parish continues to make effective use of digital communication to support its mission and maintain connection with both the church community and the wider parish. Through active Facebook, Instagram, and YouTube channels, the church Shares regular updates, prayers, and reflections, enabling engagement beyond those able to attend in person. The live streaming of Sunday services has been sustained throughout the year and remains an important means of worship and inclusion for those who are housebound, unwell, or otherwise unable to attend church regularly. While this ministry continues to bear fruit lover 100 view5 each weekl, the PCC notes ongoing challenges in recruiting sufficient volunteers to support this activity consistently. The PCC is comrnitted to offering a range of worship opportunities throughout the week, in addition to Sunday services, to meet the spiritual needs of the community and to encourage a deeper life of prayer and discipleship. Thursday mornlng services of Holy Communion continue to provide a traditional and reflective form of worship. Alongside this, the parish maintains a prayer chain and provides pastoral visiting, including support for those who are inf irm, vi51ting individuals in hospital, and offering care to those who are unwell at home. The Living Room, a free drop-in café, continues to offer a place of welcome, conversation, prayer, and refreshment, serving as a practical expression of Christian hospitality and care. In addition to regular worship and pastoral provision, the parish enables members of the community to mark significant moment5 in their lives within the context of Christian faith and prayer. During the year, the church conducted 712024.. 111 baptisms of children and adults, celebrated 3 weddings12024-. 31 and provided pastoral and liturgical support through 3212024.. 231 funerals. These services remain an important part of the church's ministry, offering thanksgiving, comfort, and the proclamation of the Christian hope at key milestones in the journey of life. Deonery Synod One member of the PCC sat on the Cullompton and Tiverton Deanery Synod between April and july 2025 and our Vicar serves as the Rural Dean. This provides the PCC with a link with the churches around us, and a150 Wlth the Diocese as a whole. It also receives reports from the General Synod. Amongst the items discussed at meetings were Bishop of Exeter talking about his 5 missional priorities,
Mission Enabler Jeremy Putnam speaking about resources for remembrance, an in-depth discussion around safeguarding within the church of England Church Fabric The PCC is 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 Pauls. 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 Extensionl are fully accessible with entrance ramps, accessible toilets and baby changing facilities. St Paul's Church also has a hearing loop and an audio-visual System with big screens. Whilst remaining a licensed place of worship, for practical reasons, no regular services have been held in St George's Church since October 2014. Budget pressures have prevented the PCC undertakSng any major repairs or long term maintenance to the premises in 2025 but have focussed instead on ensuring that regular servicing of equipment and rapid repairs of any defects are completed to prevent any degradation in the buildings. At St Paul'5 Church the Porch was replastered and the historic heavy wooden doors repaired,. the subsequent repainting was completed by volunteers saving many hours of paid work at an estimated saving of £2,400. The Church Roorns project provides a vision to allow the Church to do even more to engage with and support our local commu nity through the facilities provided by a much enhanced venue across the road from St Pauls church. Plans for a complete reconfiguration, extension and renovation of this building, including full accessibility and the installation of a lift to the first floor were drawn up with planning permission and conservation area approval achieved in 2019. However, once costings were received PCC decided to reduce the scale of the project and focus on reconfiguring and renovating the building within the exiting footprint. A revised planning application was submitted in November 2025. The work can only be completed once sufficient funds have been secured. in the meantime volunteers have been working each week to undertake significant preparatory work which will reduce the costs of contractors, additionally the sash windows have all been repaired and stonework ha5 been cleaned. These volunteers provided hundreds of hours of labour at a saving of c£ 21,300 M155ion ond Evangelism We aim 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 together with mission and outreach work Other Actlvities The activities of the Parish during 2025 are set out in detail in the Annual Report prepared for the Annual Parochial Church Meeting. During the year, the parish has continued to benefit from committed and compassionate church community, seeking to serve the needs of the local area while offering mutual support and care. It has been a busy and productlve year for the Parochial Church Council IPCCI and the Churchwardens, who met on six occasions and approved a number of projects, while continulng to support the Vicar and staff team in the effective delivery of their responsibilities. The PCC remains mindful of the ongoing impact of the rising cost of living on many residents within the parish, particularly in areas of deprivation. In addition to regular Sunday and mid-week services, parish
volunteers have continued to extend the ministry of the church into the community through home groups and pastoral engagement. The parish has maintained a strong presence within local schoo15. At the local secondary school, the church supports a Christian UniDn125 weekly,. 18 in 20241 led by the Curate in partnership with leaders from two other local chu rches, alongside the provision of mentoring. Within the local primary school, our children's and families minister and volunteers deliver "Open the Book" as a collective worship experience, support school trips, and engage with pupils and staff. Family-focused ministry continues th¥ough Messy Church, held twice during the year and attended by 97175 20241 children and parents from across the community. 'Fusion" the weekly after-school club, provided 8ible teaching and activities, and a weekly summer club was held throughout the school holidays. The "Charge" youth group for secondary-aged young people paused in September due to reduced attendance and a shortage of leaders. Discipleship groups for those aged 11 and over continue to offer space for questions and exploration of the Christian faith. We hosted and co -led an initiative called LifePath, which saw 278 primary aged children from across the town in a day tied closely to the national curricullsm exploring how the Wesley family who have significant linl(s to Tiverton and their impact across the world in founding methodism and forwarding research in medicine and herbology, whilst allowing their Christian Lifepath to direct them. The parish works c105ely with a number of local charities to support the practical, social, and pastoral needs of the community. Free food continues to be provided to approximately 120 people each week 1140 in 20241 through the 'Breakfast on the Go" initiative, with a particular focus on families attending the local primary school. Feedback from teaching staff indicates that this provision has had a positive impact on pupils, learning and behaviour. In addition, 'Lunch on the Go" and "The Living Room" each operating weekly, have proved effective in addressing food insecurity, loneliness, and social isolation among vulnerable members of the community. The pa rish also maintains a close partnership with the local homele55ness charity, CHAT (Churches Housing Action Team), supporting its work with individu31s who are homeless or at risk of homelessness through practical assistance, a foodbank, advice services, and the involvement of trained volunteers. Financial Revlew The total unrestricted income for the year was £237,20312024.' £226,252). The £242,05112024: £152,072) of restricted income includes nil12024: £10,000) of matched funding from Give to Go Green and £30,49212024'. £50,844) from the Brewin Trust in support of stafl employment costs. Unrestricted Income f rom the Parish Giving Scheme, standing orders, CAF accounts, Stewardship Accounts, the contactless terminal and cash totalled £212,74612024'. £201,2871. Of this total the Parish Giving Scheme made up £143,946167Y.I 12024: £148,410174%11 with many givers generously increasing their giving by inf lation. However whilst the number of regu lar givers remained fairly constant a number of generous givers died, moved away or experienced changes of circumstances and new giving did not fully replace this income. The PCC receives rental income from renting the church rooms, the Churches, St Georges Extension and the Church Flats. We spent £349,45012024.' £298,8101 to provlde Christian ministry in the parish, including the contribution to the Diocesan Common Fund which largely provides stipends and housing for the clergy.
This 15 the amount that the churches in the diocese are asked to contribute to cover these cost5. It is calculated by a formula based mainly on the head count of the congregation and totalled £117,948 12024.. £115,199). This expenditure did not include any funds 12024: £8,0891 spent on major improvements or repairs to the church buildings. The PCC has given approximately IOYO of the yearfs generated unrestricted income to charities of their choice (TEAR Fund, Church Mission Society, The Bible Society and Churches Housing Action Team). These donations are included within 'Missionary and Charitable Giving in the accounts. The net result for the year was a surplu5 of £129,87112024.' surplus £79,514) before gains on Investments. After adjusting for losses on investments, the nèt income for the year was £128,47812024'. deficit £80,242). Much of this net income was in the form of donations to restricted funds - primarily the Church rooms project. Unrestricted funds showed a surplus of £8,72612024 £5,073) after a number of generous one off donations late in the year and the cancellation of planned repairs and improvements to St Paul'5 Church, 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 £44,600 as of September 2024 which will be reviewed and the sum required probably increased in September 2026. This policy is set for the following reasons: l. To manage cash flow and contractual obligations,. 2, In case of significant building maintena nce being required; and 3. Against loss of income whilst buildings are not 3V3ilable for rental. The PCC has set a budget for 2026 with a deficit of £26,000. Whilst there have been some significant impact on expenditure due to inflation, the deficit is largely due to reductions in the total amount donated each month by regular givers. The total number of regular givers ha5 remained fairly stable a number of previously generous givers have passed away, moved away or had a change of clrcumstances but new regular givers have not been able to commit to such large amounts. The PCC were willing 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 necessary. The total net assets as at the year-end were £360,32112024'. £231,844), and of these, £224,56812024'. £103,423) are restricted reserves and £25,8491£2024'. £27,243) are endowed. The remaining unrestricted funds total £109,90412024- £101,178 of which £51,51812024.- £52,371) are designated leaving£58,38612024'. £48,807) unrestricted general funds as free reserves held by the PCC,. this is 1£12,3861 £4,207 in excess of the current reserves policy requirement £44,600. Golng Concern The financial statements have been prepared on the going concern basis. Although PCC agreed a deficit budget for 2025 and it has been challenging year financially a number of generous donations in November and December and restrlctions on the expenditure on church buildings has resulted in there being a small surplus. PCC have again set a deficit budget for 2026 but have agreed that they will take steps to restrict expenditure if this is reqL*lred. 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.
Safeguarding The PCC has complied with the duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 Iduty to have regard to House of Bishops, guidance on safeguard ing children and vulnerable adults). 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 DBS checks. Safeguarding and related policies are reviewed annually and updated.. whilst ensuring the procedures are followed th rough. The quality assurance of safeguarding is monitored regularly, and any safeguarding concerns are dealt with in co¥Trjunction with the Diocesan Safeguarding Team. Volunteers One hundred and seventy12024.' One hundred and sixty two) members of the church serve as volunteers across a number of teams,. from AV to welcoming and Breakfast on the go to worship. Minlstering 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 members is 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. Electoral Roll revision was completed just before the APCM in April 2024 and the Electoral roll was 161 before and 162 after the update. The PCC members are responsible for making decisions on all matter5 of general concern and importance the parish, and for all f inancial matters. The full PCC met six12024 six) times during the vear and the average level of attendance was 740A12024 70/L> 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 reporting group to the PCC which looks after the needs of paid staff, and brings policy and best worl(ing practice to the PCC for 3pproval, there are no formal minutes but notes of meetings are recorded. Administrative Information The parish of St George and St Paul comprises 5t George's Church which is situated in Fore Street, Tiverton and St Paul's Church which is situated in Church Street, Tiverton and is part of the Deanery of Cullompton and Tiverton, in the Diocese of Exeter. The correspondence address is The Parish Office, St Paul's Chu rch, Church Street, Tiverton, EX16 5HV.
A consultation was launched by the diocese of Exeter, around Parish Boundaries, this has resulted in an enlarged parish to take in a new housing estate in 2026. 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 I, January 2025 until the date this report was approved were: Ex Officio The Incumbent Curates The Rev Preb Andrew Humm The Rev Charles Wheeler The Rev Miriam Brandon-wheeler Chair Churchwardens Mrs Caroline Bright Mrs Rebecca Britton Mr Kevin Chapman Mrs Janet Norris Mrs Genevieve Proctor Mr Paul Sagar Deanery Synod Reps Mr Michael Hodgson Elected Members Mrs Kathryn Baker Mr Neil Bowler Mrs Rebecca Britton Mrs Elizabeth Croft Mrs Janet Dawe Mr Richard Flower Mrs Clare Fitzherbert Mr Paul Friend Miss Catherine Harris Mr Anthony Killeen Mrs Alison Padfield Mr Paul Sagar Mr Robert Syers Mrs Jennifer Tower Until 24 April 2025 From 24 April 2025 From 24 April 2025 From 24 April 2025 until I September 2025 Until 24 April 2025 & from I September 2025 From 24 April 2025 until 23 July2025 Until 24 April 2025 From 24 April 2025 Treasurer From 24 April 2025 Until 24 April 2025 From24 April 2025 until I September 2025 U ntll 24 April 2025 U ntil 24 April 2025 Key management personnel include all members of the PCC as well as the Children and Families Minlster and the PCC Secretary. Approved by the PCC on 25 March 2026 and slgned on its beholf by.. Rev Preb Andrew Humm (Chair) Mr Rlchard Flower (Treasurer)
I CHARITY COMM15510N FOR ENGLAND ANO WALES Independent examiner's report on the accounts RepoTt to the tfUSteg$ 01 Tiverton, St George and St Paul Parochial Church Council On actount5 forthe year ended 31&t December 2025 Charlty no111 anvl 1175137 Set out on pages 8-20 I report to the trustees on my examination of the accounts of the above charity I'the Trust"} for the year ended 31112 12025. A5 the charity's trustees, you are responsible for the prepararion of rhe actounts in accordance with the requirements of the Charities Act 20111.the Act"). Responslbllltles and basls ol report I report in respect of my examination of the Trusvs accounts carrfed out under Section 145 of the 2011 Act and in tarrying oui my exaFnination, I have followed all the applicable Directions given by the ChaTIty Corntn155ion under sectiori 1451Sllbl of the Act. The charitls gross Incoine exceeded £250,000 and l atn qualifted to undert3ke the examination by beitig a qualified tnember of the Institute of Associated chartered Certified Account3nt5. ldependent Examlner's Stalement I have completed my examination. I confirm thar no material matters hève ctrmt to my attention in connection wilh the examination lorher than thar disclosed below I which 8ives me cause to believe that in. any materlal respect.. the accounting records were not kepr in accordance wlth sectk)n 130 of the Charities Act., or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts sei out in the Charitie5 IAccount5 and Reports) Regulations 2008 other than any requlrement that rhe atcounts glve a'true ènd fair, v*w whlch Is not a matter considered as part of an Independent exatnlnatlon. I h3ve no concerns and have come 3cr05S no other rnatter5 in connection with the ex3minatSon to which attentlon should be drawn in this report in order to enable a proper under5tandlng of the accounts to be reached. Signed & Dated: March 2026 R Mugf Relevant Professional Qualificationlsl or body.. Address.. Fellow of the A550Clation of chartered Certified Account5 21 Angel Hill Tiverron EX16 6PE
h) ON) oc>c) o o 00000 ) o ro ¢0 ¢OFQ 0000 owoo 00000 o(n
The Paro¢hial Churth Council of the Eccleslastical Parlsh of Tlverton, St George & St Paul BALANCE SHEET t YI Detember 2025 2025 2024 Notes FIXED ASSETS Investments 25,849 25,849 27,243 27,243 CURRENT ASSETS Debtor5 and prepayments Cash at bank and in hand 8,509 15,607 368,067 219,612 376,576 235,219 LIABILITIES Creditors- amounts falling due within one year 42,104 30,618 Net Current a$5ets 334,472 204,601 Total assets less current Ilabllltles 360,321 231,844 NET ASSETS 360,321 231,844 PARISH FUNDS Unrestrlcted reserves General Designated 58,386 51,518 109,904 224,568 48,807 52,371 li 101,178 Restricted reserves 224,568 Endowment Fund 25,849 27,243 360,321 352,989 These financial statements were approved by the PCC on 26 March 2026 and were signed on its behalf by.. Rev Preb Andrew Humm PCC Chair Mr Richard Flower PCC Treasurer io
The Parochial Church Council of the Ecclesiastical Parish of Tiverton, St George & St Paul NOTE5 TO THE FINANCIAL STATEMENTS Year Endifig 31 December 2025 Accounting pollcles Basis of preparatlon The financial statements have been prepared under the Charities Act 2011 and in a¢¢ordance with Church Accounting Regulations 2006 together with the Charities Statement of Recommended Practice (Charities SORP 2015 (FR5 10211 and Financial Reporting Standard 102 IFRS 1021. The financial statements have been prepared under the historic c05t convention except for the valuation of investment assets, which are shown at fair value. 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. Golng concern The financial statements have been prepared on the EoinE 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. Fund5 General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also not restricted. Flestricted funds are income funds that must be spent on restricted purposes and detai15 of the funds held and re%trictions provided are shown in the notes to the account5. Endowment Iijnds are money or other assets given to the PCC for investment. Only the investment income can be spent. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of the church groups that owe their main affiliation to another body nor those that are informal gatherings of church members. Income Donotions (ynd legacies Planned giving, collections and general donations are recognised only when received. Gift aid recoverable on donations is recogni5ed when the donation is received. Grants and legacies to the PCC are recognised as 500n as the PCC is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is probable. Charitable activitles Income from church fee income is recognised when the fee is due. Income from activitie5 is accounted for gross. Other trading octivities Rental income is recognised when the rent is due. Where income is received in advance, it is recognised in the year in which the event takes place that it relates to.
The Parochial Church Council of the E¢cleslastlcal Parlsh of Tiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 December 2025 Accountlng policie5 l¢ontinued} Investments Interest entitlements are accounted for as they accrue. Dividends are accounted for when due and payable. Expendlture Raising funds Expenditure on raising funds is accounted for on the accruals basis. Charitable octivities Expenditure on charitable activities is accounted for on the atcruals basis. The dlocesan common fund is accounted for when payable. Any unpaid amount at 31 December is provided for in these accounts as an operational (although not legall liability and is shown as a creditor in the Balance Sheet. Grants are accounted for when paid over, or when awarded, if that award creates a binding obligation on the PCC. Tanglble flxed assets Consecrated land and buildings ond moveable churchfurnlshirjg Consecrated and beneficed property is excluded from the accounts by s1012llal of the Charities Act 2011. No value is placed on moveable church furnlshings held by the churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and moveable church furnishings, whether maintenance or improvement, is written off as 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 significant (greater than £1,000) purchases of fixed assets during the year. Investments Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The SOFA includes net gain5 and losses arising on revaluations and disposals throughout the year. Debtors Amounts owing to 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 amount. Prepayments are valued at the amount prepaid, net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, and other short-term liquid Investments with original maturities of three months or less. Credltorg Creditor5 are recogni5ed 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 settlement can be estimated reliably. Creditors are recognised at the amount that the PCC anticipates it
The Parochial Church Council of the Eccleslastlcal Parish of Tive¥ton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 December 2025 Accountlng pollcies Icontlnuedl will pay to settle the debt or the amount it has received as advanced payment for the goods or service5 It must provide. Flnanclal In5trumentS The church only has financial assets and liabilities of a kind that qualify as basic financial instruments. All Ilncluding debtors and creditors) are initially recognised at transaction value and subsequently measured at their settlement value. Income from: Unrestricted Restricted Funds Funds Total Total 2025 2024 2a) Donatlons and legacles Planned giving Gift aid recoverable Collections at servlces General donatton5 and appeals Donations Church Rooms Legacles Other grants 153,746 32,699 8.424 160 153,906 159,620 21,907 54,606 41,650 8,424 6,948 13,424 14,917 28,341 15,893 156,075 156,075 56.840 4,453 48,192 52,645 71,794 212,746 241,251 453,997 352,746 2b} Charitable activities Weddings, Chrlstenlngs & Funerals Fundraislng 4,598 4,598 5,522 1,467 15 1,482 250 6,064 15 6,079 5,772 2c) Other tradlng actlvlties Churth Room's Rental Lettlng of Churches St George's Extenslon Letting 1,442 777 1,442 777 1,347 885 4,992 4,992 3,911 7,211 7,211 6,143 2dl Investments Interest Divldends Income from let property 678 678 602 773 786 786 10,605 10,605 12,180 11,282 786 12,068 13,555 13
The Parochial Church Council of the Ec¢leslastlcal Parish of fiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 December 2025 2el Other Income Sale of assets 109 Total Income 237,303 242,051 479,354 378,324 Expendlture on: Unrestrlcted Restricted Funds Funds Total 2025 Total 2024 3a1 Charltable activlties Missionary and charitable Biving (Note 61 Diocesan common fund Staff costs (Note 41 Clergy and staff expenses Mission & Evangelism Church running costs Insurance 20,633 400 21,033 20,508 117,948 0 117,948 115,199 18,556 29,214 47,770 66,947 4,156 2,896 7,052 6,356 10,069 16,218 26,287 26,194 18,030 10,275 18,208 907 18,937 10,275 18,208 12,046 11,943 13,802 Major improvements & repairs Church Administrative costs Depreciation 8,810 10,845 77 10,922 12,751 Support and governance costs Independent examiner's lee Legal and professional fees -1,030 -1,030 853 71,195 72,048 4,254 228,544 120,906 349,450 298,810 3bl Raising Funds Unre5trlrted Restrlcted Funds Funds Total 2025 Total 2024 34 34 14
The Parochial Church Council of the Eccleslastlcal Parish of Tiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year EndlnE 31 Decembey 2025 4. Staff Costs During the year the PCC employed a Children's and Families Minister, a part time administrator, a part time book keeper and a part time cleaner. The PCC did not employ anyone who earned £60,000 per annum or more12024.' none). Total employee benefits lincluding pension and employer's national insurance contributionsl to key management personnel was £47,77012024.' £66,9471 4 Staff 10stS Unrestrlcted Restricted Funds Funds Total 2025 Total 2024 Wages and salaries 18,461 28,545 47,006 65,541 Social security costs Employer's pension contributions 175 95 669 764 1,231 18,556 29,214 47,770 66,947 Average number of employees 3.75 4.17 Average number of full time equivalent employees 2.32 3.06 5. Related Party Transactlons During the year to 31 December 2025, the charity received £37,38312024'. £67,329) in donations from the PCC members, key management personnel and persons closely connected to them. The donors did not attach any conditions to their gifts which required the charity to significantly alter the nature of its existing activities. Clergy and staff claimed expen5e5 of £3,00212024-. £2,813) during the year for travel, subsistence, officÈ supplies and the cost of communications. No other transactions were undertaken with any other PCC memberi persons closely connected to them or related parties save for the reimbursement of supplies purchased for the church. 15
The Parochial Church Council of the Eccleslastical Parish of fiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 December 2025 Mlssionary and charltable glvlng 2025 2024 Bible Society 5,158 4,908 Church Mission Society Church Housing Action Team 5,158 4,908 5,158 4,908 ICHAT) Tear Fund 5,158 4,908 Hardship Grants 400 625 CPAS 250 21,033 20,508 Investments 2025 2024 Market value brought forward Disposal proceeds Net gains on revaluation 26,515 27,243 -1,394 728 Market value carried forward 25,849 27,243 Debtors and prepayments 2025 2024 Tax recoverable Prepayments Other debtors 5,514 3,754 2,270 725 1,791 61.91 Giveto Go Green 10,000 8,509 15,607 16
The Parochial Church Council of the Eccleslastical Parish of Tiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 Decembèr 2025 Credltors and accrua15 2025 2024 Trade creditors Accruals Deferred income Other treditors 13,018 25,675 3,988 22,908 3,410 655 42,104 27,551 10 Movement in fund5 YIE 31 December 2025 Brought forward Gains/ {lossesl Carrled forward Income Expendlture Transfers Unrestrlcted Funds General 48,807 237,303 227,724 58,386 48,807 237,303 227,724 Designated reserves Funeral Donations Fabric Fund Legacv Reserve Outreach & evangelism Church Rooms refurbishment Minibus Fund Equipment Fuiid 58,386 396 396 13,174 13,174 30,159 30,159 3,028 3,028 853 853 4,700 4,700 61 61 Total de51gnated funds 52,371 853 51,518 Total unrestricted Funds 101,178 237,303 228,577 109,904
The Parochlal Church Council of the Eccleslastical Parlsh of Tlverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 December 2025 Restrlcted reserves Fabric Fund St GeorBes Antioch Fund Alphal Mission Church Rooms refurbishment Staff Salaries (Brewin Trust) CF Drew Legacy Income Hardship Ftjnd Lunch on the Go/Breakfast on the Go St Paul's Bell Tower IT Upgrade Summer Camp Fund Churches, Tent Mid Devon Show Lifepath Take Note 8,284 162 0 £8,121.70 550 400 630 £320.00 78 284 207 80,697 187,017 71,230 196,484 722 30,492 29,214 2,001 1,909 786 2,261 433 2,537 400 2,137 3,208 1,793 1,415 1,545 356 iii 1,790 2,923 1,850 666 4,107 411 704 1,115 1,605 2,017 2,222 1,400 791 1,166 9,812 5,410 7,701 4,310 2,902 2,266 Total Restrlcted Funds 103,423 242,051 120,906 224,568 Endowment Fund5 CF Drew Legacy 27,243 -1,394 25,849 Total Funds 231,844 479,354 349,483 -1,394 360,321 Unrestricted funds Designated funds Funeral Donatlons.. Mainly comprised of collections/donation from funerals held at st Paul's. The original aim was to use the earlier donations to have a new communion table built. 18
The Parochial Church Council of the Ecclesiastical Parish of Tiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Ending 31 Detember 2025 Fobrlc Fund.. Intended as a 'sinking fund, to build up a cash reserve from general funds for future fabric repairs/replacements. legacy Resertye." A designated fund relating to a legacy to be used at the discretion of the PCC Outreach & evongellsm.. This fund derives from the closure of the charity known as The Catharine Muriel Penny Ministry Trust (Charity Commission 2946861. The funds have been designated for use in outreach and evangelism Church Rooms reAurblshment Opened originally in 2022 with a £8k transfer from other funds. There were no restricted fund5 until 2023 when appeals were made for specific funds for the rooms. This fund was established used largely to fund the preliminary work, fees and planning permission etc. to allow the project to proceed. This fund ha5 been fully expended and closed. Minlbus Fund Established to assist with the purchase of a replacement church minibus. The PCC resolved to try to regularly put away some additional funds to eventually allow the purchase of a minibus (primarily for youth workl after the previous one was sold because of its age and condition. Equipment Fund Intended as a 'sinking fund, to build up a cash reserve Irom general funds for future fabric repairslreplacementS Restricted funds Fobrlc Fund.. St Geor9e's Transferred from the parish of St George'5 at the time of the mei'ge¥ in 2017 this is a historic31 fund that was built up over time and can only be used for the maintenance of the St George's premises. Antloch Fund This fund provides a5515tance for individuals and group5 from the fellowship who are undertaking mission projects and are not otherwise fully financially supported. It has been used in 2024 to support the SWYM fees of our trainee. Alphu/Mlsslon This fund was transferred across from St George's when the pèrishes merged in 2017 and has been added to from a funeral collection- it may only be used to support Alpha courses, Stuff Salorles (Brewln Tru5tJ The Brewin Trust is a charity Ifor which the Vicar and Chur¢hwarden5 are the trustees) with objects are to further the 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 Legacy income This fund receives the income from the Endowment Legacy and applie5 It to assist the Vicar Isee Endowment Fundsl Hardshlp Fund This fund was e5tabli5hed during Covid by an appeal to the congregation and was intended fo¥ church members to apply to for a small grant, if suffering hardship as a result of the pandemic. It wasn't fully utilised at the tiffle 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 churchwardens. Lunch on the Go/Breukfvst on the Go social space Funds provided for community projects offering refreshments and St Paul'5 Bell Tower Donations re£eived to support the bell ringing activity 19
The Parochlal Church Council of the Etcleslastlcal Parish of fiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 310ecember 2025 IT upgrode This fund originated from a substantial donation to buy equipment to live stream services during Covld. There was more money than needed for this Purpose and the donor agreed that it could be used for general IT purposes. Summer Camp Fund Summer Camp5. Donations received to provide financi31 support to young people participating in Churches Tent, Mld Devon Show This fund was established to a5SlSt the team running the Churches Tent at the Mid Devon Show and includes donations from churches and individu31s across Mid Devon. It can only be used to support the Christian activity at the Mid Devon Show. lifepath This fund was established to assist the team runnlng Lifepath events for Primary Age Children in Tiverton. Toke 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 to assist the Vicar (See Restricted Funds) 10 Movement In funds Icont.) YIE 31 December 2024 Brought forward Income Expendlture Gain51 Ilossesl Transfer5 Carrled forward Unrestricted Funds General 40,643 226,093 217,929 48,807 40,643 226,093 217,929 48,807 Deslgnated reserves Funeral Donations Fabric Fund Legacy Reserve Outreach & evangelism Church Rooms refurbishment Minibus Fund Equipment Fund 396 396 13,174 30,159 3,028 13,174 30,000 3,028 159 3,090 853 3,943 4,700 221 4,700 61 160 Total designated funds 55,462 159 3,250 52,371 Total unrestricted Funds 96,105 226,252 221,179 101,178 20
The Parochial chUh Council of the Ecclesiastical Parish of Tiverton, St Geofge & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Ending 31 December 2025 Restricted reserve5 Fabric Fund St Georges Antioch Fund Alpha/ Misslon Church Rooms refLJrbisliment staff Salaries (Brewin Trust) CF Drew Legacy Income Hardship Ftjnd LL4nch on the GolBreakfast on the Go 8,284 805 0 £8,283.70 £550.00 1,760 2,015 91 376 284 4,128 78,437 1,867 80,697 722 50.844 50,844 722 3,665 3,067 773 2,529 530 1,909 2,537 1,945 2,699 4,658 st Paul's Bell Tower IT Upgrade Summer Camp Fund Churche5' Tent Mid Devon Show 1,626 3,718 646 303 383 1,545 2,923 411 795 2,390 2,625 3,650 2,046 1,605 Lifepath Take Note 7,300 3,917 6,509 2,751 791 1,166 Total Restrlcted Funds 28,982 152,072 77,645 103,423 Endowment Funds CF Drew Legacy 26,515 728 27,243 Total Funds 151,602 378,324 298,824 728 231,844 li Analysls of Assets and liabllltles between funds 2025 Unrestrlcted funds Restricted Endowment funds funds Total Investments 25,849 25,849 Debtor5 and prepayments Cash at bank and in hand -20,101 28,611 8,509 147,043 221,024 0 368,067 Currer)t -17,038 -25,066 -42,104 Net a55ets 109,904 224,568 25,849 360,321 21
The Parochial Church Council of the Ecclesiastical Parish of Tiverton, St George & St Paul NOTES TO THE FINANCIAL STATEMENTS Year Endlng 31 De¢èmber 2025 Unrestrlcted lunds Restrlcted Endowment funds funds 2024 Total Investments Debtors and prepayments Cash at bank and in hand 27,243 27,243 -1,097 16,704 15,607 127,880 91,732 0 219,612 Current -25,605 -5,013 -30,618 Net assets 101,178 103,423 27,243 231,844 22