Small town vicar Reverend Jedd is troubled: his church is already strapped for cash, and now a sum of almost £1,000 is required for urgent repairs to the steeple.

He and the local committee decide to hold a fair to raise the money, and with aeroplane rides on offer, a range of amusements, and kindly donated goods for auction in aid of the steeple fund, they are assured success. That is, if it weren't for Jedd!

Unfortunately for the poor cleric, he soon discovers that his jovial attempts to boost the bidding in a series of auction lots has backfired, landing him with the bill! Now owing himself the grand sum of some £200, he realises he must find another way to make up the shortfall.

Salvation, of sorts, arrives with his sister, who visits ahead of the local derby and announces she has secured 50% ownership in one of the horses, Dandy Dick. Even though he's never lowered himself to such vices, he soon reasons that with her reassurance, and with odds at 10-1, it is less of a gamble and more a certainty, and - assisted by household butler Wilkins, places the bet.

All seems well at first, but a late-night visit to inspect Dick in his stable proves the first in a series of unlikely events for the poor Reverend!