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2021-12-31-accounts

PARISH OF MONKWEARMOUTH

ANNUAL REPORT AND FINANCIAL STATEMENTS

OF THE PAROCHIAL CHURCH COUNCIL FOR THE YEAR ENDED 31 DECEMBER 2021

PARISH OF MONKWEARMOUTH

LEGAL AND ADMINISTRATIVE INFORMATION

Incumbent Reverend R Bradshaw
Independent examiner Rebecca Davison, ACA
12 Bessemer Court, Hownsgill Ind Park
Consett
Co Durham
DH8 7BL
Bankers National Westminster Bank PLC
52 Fawcett Street
Sunderland
SR1 1SB

PARISH OF MONKWEARMOUTH

CONTENTS

Page
Trustees' report 1 - 9
Independent examiner's report 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 22

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their annual report and financial statements for the year ended 31 December 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Background

The PCC of the Parish of Monkwearmouth is responsible for co-operating with the clergy of the Team Ministry in promoting the whole mission of the Church within the parish – pastoral, evangelistic, social and ecumenical. It also has a responsibility for maintaining the fabric of the Priestman Hall and the church buildings in the parish.

Membership

During the year 2021 (or part thereof) the following people served as members of the PCC

Team Rector The Revd. Richard G.E. Bradshaw
Team Vicar The Revd Andrew M. Watson
Assistant Curate The Revd Timothy May
Associate Minister The Revd Dr Philip Smithson (until his retirement in June)
Readers Mr David Henderson
Mr John Pattinson

Lay Minister with Bishop’s permission to Officiate

Mrs Enid Phillips Churchwardens Ms Julie Gregory St. Andrew’s, Roker Mr Stuart Cameron All Saints’, Fulwell Mrs Doreen Hall All Saints’, Fulwell Mrs Enid Phillips St. Peter’s, Monkwearmouth (Resigned January 2022) Mr Peter Calvert St Peter’s, Monkwearmouth (Resigned April 2021) Lay Vice Chair Mr John Pattinson PCC Secretary Mrs Eleanor Wilson PCC Treasurer Mr Ron Marsden

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

PARISH OF MONKWEARMOUTH

Representatives on the Deanery Synod

Mrs Evelyn Nicholson St. Peter’s Mr Malcolm Drummond St. Andrew’s Elected Members Miss Christine Chadwick St Andrew’s Mrs Joyce Pratt All Saints’ Mrs Linda Hughes All Saints’ Mrs Judith King All Saints’ (died August 2021) Mrs Muriel Tully All Saints’ Mrs Diana Matthew All Saints’ Mrs Anne-Marie Kemp St. Peter’s Mr Fred Raffle St. Peter’s

Parochial Church Council

The P.C.C. met on only two occasions (21[st] June and 11[th] October) during the course of the year 2021 (as a result of lockdown requirements during the Covid-19 pandemic.

Committees:

Standing Committee

This comprises the Rector, the Churchwardens and the officers of the PCC (Lay Vice Chair, Secretary and Treasurer) and the other clergy of incumbent status. The Standing Committee meets to determine the agenda for PCC meetings and has power to transact the business of the PCC between its meetings subject to any directions given by the Council.

District Church Councils

Each District in the parish has a District Church Council. Each “DCC” comprises that District’s members on the PCC together with an additional six members elected at the Annual District Church meeting (ADCM). The DCCs are responsible for matters affecting their respective districts including mission and ministry, finance, administration and building and fabric.

Church Statistics and the Covid-19 pandemic

There are 150 parishioners on the parochial roll, of whom 34 are not resident in the parish.

The average Sunday Parish Adult Attendance figure for 2021 was approximately 70 adults. were weddings weddings in the churches of the Parish during 2021.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Ministerial Resources and Staffing

The Parish has three priests with distinct roles and responsibilities within the Team Parish, contributing to sustaining congregational life, enhancing parish development and furthering the work of God’s Kingdom: the Team Rector, the Revd Richard Bradshaw, the Team Vicar, the Revd Andrew Watson and, until the end of June, the Revd Dr Philip Smithson who was self-supporting Associate Minister to the Parish. Philip retired from this role with the anticipation of resuming ordained ministry in early 2022 with Permission to Officiate following the required pause in ministry of six months. At Petertide the Revd. Tim May was ordained deacon and joined the clergy team as Assistant Curate.

Carol Pattinson continues to work as an Authorised Pastoral Assistant (APA) as part of the ministry team. In September Allison Young received the Bishop’s Authorisation to begin ministry as a Lay Pastoral Assistant. Working closely with the clergy, Carol and Allison ensure that as many of the sick or housebound as possible are visited and receive Holy Communion when appropriate. John Pattinson and David Henderson continued in their work as Readers across the Parish, as well as having some geographical focus within the three Districts. With similar duties and responsibilities Enid Phillips continued to serve with the Bishop’s Permission in pastoral and preaching ministry as well as assisting in the leading of worship. David Henderson is also licensed to conduct funerals in which ministry he shares with the clergy.

Following the lifting of lockdown restrictions Carol Patttinson with the assistance of Enid Phillips continued to lead the quarterly Memorial Service at All Saints’ Church. John Pattinson along with Val Hughes continued to lead and develop the work of baptism preparation in the parish on the final Thursday of each month until the autumn of 2021 when, after thirty five years in this role, John stepped down. The clergy team then met to plan what the next phase of baptism preparation might be.

Carol Pattinson in her role as Authorised Pastoral Assistant continued co-ordinating the Bereavement Team. In the same way numbers of other church members continued to share in the Church’s ministry and mission in informal ways, caring for and visiting those who are known to be in need. From March 2021 the Team Rector and John Pattinson began the leading of a “Zoom service” with the residents of the Glenholme residential home until such time that the monthly Communion Service led by John Pattinson could resume.

Services

Regular congregational worship.

Between July 2020 and August 2021 following partial lifting of lockdown restrictions weekly Sunday congregational worship took place for the Parish at St Andrew’s with one Sunday service a month occurring at St Peter’s and All Saints’ on the first and third Sundays respectively. Wednesday morning Holy Communion took place weekly at St Peter’s and All Saints’. From September weekly Sunday worship resumed at all three churches. Singing also resumed although the wearing of facemasks was still encouraged whilst moving around the church when people might be engaging with one another face to face.

Plans were made in November to re-start the first Sunday of the month “Celebrate!” café-style worship at St Andrew’s at the beginning of 2022 and to include attendance at “Celebrate!” being part of baptism preparation for enquirers.

Weddings, baptisms and funeral services

Weddings were permitted to resume in 2021 although with restrictions on numbers and requirement to wear facemasks. This proved difficult to manage in some cases and on two occasions very large numbers of people arrived for weddings at St Andrew’s despite the undertaking of couples to restrict numbers to the required maximum. The requirement of mask-wearing was also largely ignored despite requests. Congregations for funerals were in general more respectful of requirements and requests to abide by guidelines were adhered to in the main. In view of concerns of the likelihood of large numbers (which at St Andrew’s particularly could typically be several hundred people pre-lockdown) and the potential difficulty in managing these, baptisms did not resume in the parish until October.

Achievements and performance

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

2021 was, once again, a very challenging year. Buildings maintenance commitments – particularly for St. Andrew’s - continued to make heavy financial demands. The Parish Pledge Offer was £20000. Please see below for further details. The District Church Councils and Church Officers continued to work hard at seeing that money is given and raised, and that bills are paid.

The outgoings, not least in the proper conservation and care of the church buildings of the Parish, two of which are Grade 1 listed (which draw national and international interest) remain considerable.

Parish Share 2021

Pledged Paid All Saints’ £5000 £11000 St.Peter’s £5000 £5000 St.Andrew’s £5000 £7000 Parish of Monkwearmouth £5000 £5,000 £20000 £28000

The Parish of Monkwearmouth has always been committed to trying to pay the Parish Share in full. The parish is very aware that Parish Share underpins the costs of stipendiary ministry and other key aspects of ministry provision in the Diocese. Recent years have been especially challenging as congregation numbers and occasional offices (with their respective fees) have fallen. At the same time buildings costs have increased and, especially at St Andrew’s, have been, at times, very considerable. Whilst there remains an amount in reserve forecasts give a very uncertain view as to how long this will last as the current rate of building repair expenditure at St Andrew’s is unsustainable beyond the next few years.

As the church PCC and DCCs met in the autumn of 2021 it was clear that the covid lockdown had exacerbated an already extremely challenging situation and a very substantial means of income – letting fees for regular and occasional use of church buildings, income from Bede’s Bakehouse, a fall in regular giving because of the closure of churches for regular worship for many weeks and a dip in occasional offices (weddings and for a time church funerals) – was lost and would take a very considerable time to regenerate without any “quick fix solutions” in view.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

St. Andrew's Church

As in 2020 2021 was largely a “holding year” with the exception of a number of emergency repairs. The DCC Buildings Report in September 2021included completion of electrical work and extensive repairs to the church organ. Replacement of the Priestman Hall lighting was discussed with a quotation of £2100 for a complete overhaul and fitting of LED lighting with dimmer switches. This was completed at the end of 2021 with the assistance of a very generous anonymous donation. Outstanding work includes the felling of two further trees in the churchyard and repairs to the central northside pinnacle of the nave which the church architect estimates to be in the region of £25K. a quantity of lime mortar has fallen out of the church walls after only seven years and the PCC are hoping that the DAC will consider approving a more hardwearing substitute such as concrete as a replacement.

The Priestman Hall which is attached to St Andrew’s following an eighteen month period of closure because of the Covid lockdown began to operate normally again in September, 2021 with regular weekday and weekend use by a variety of clubs, groups and organisations as well as occasional and one-off events such as birthday parties. This is beginning to pick up again although Muddlers is yet to re-start. There is a group of willing helpers and many families wanting to come but we are as yet unable to take on the leadership of Muddlers and the previous leader stepped down before lockdown.

Two MBA students from the University of Sunderland began a placement in September 2021 to work on a project to develop the potential of the Priestman Hall to further develop potential to engage with the local community both to ensure long term financial viability as well as to bring Blessing to the Community in Jesus’ name.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

St. Peter's Church

Following the ending of lockdown restrictions St. Peter’s Church Bede’s Bakehouse café, in St Peter’s Chapter House, re-opened on Monday, Wednesday and Friday lunchtimes. It has continued to be an extremely popular venue, attracting regular local customers, including students from the University as well as visitors from further afield. St Peter’s Church and Bede’s Bakehouse regularly receives full “five points” reviews in Trip Advisor.

During 2019 plans were proposed for a new entrance into Bede’s Bakehouse on the east side of the connecting corridor as a replacement to the window opposite the kitchen door. The work on this is due to be completed in early 2022.

In October 2018 the church architect had identified efflorescence (salt deposits as a result of water ingress) on several pillars and inner and outer walls. He suggested this was highly likely to be a result of inadequate water drainage provision adjacent to the church walls when Sunderland City Council had undertaken works landscaping the churchyard in 2015. Efflorescence was not mentioned as an issue in the previous quinquennial inspection of 2012 suggesting the damage had occurred more recently. The sudden appearance and accelerating nature of the damage strongly suggested a connection with the work of the Council contractors and especially the (admitted) lack of provision of an adequate drainage system.

A series of meetings took place throughout 2018 and 2019 which involved, on various occasions, the Team Rector and parish representatives, Durham Diocesan Advisory Committee, Sunderland City Council and Historic England. Following a visit by loss adjusters the parish was informed by the Ecclesiastical Insurance Group that no insurance claim could be made. In March 2019, a meeting was held at which the DAC proposed the idea of an independent report to examine the cause of the damage which might run to many tens, even hundreds of thousands of pounds. There was a concern on the part of the parish as to how this might be financed as such a report might cost £10,0000 or more

A meeting was held in January 2020 between all those listed above and Cllr John Kelly, Portfolio Holder for Communities and Culture. Cllr Kelly undertook to do whatever he could including provision of some immediate finance to ensure full City Council support in investigation of the damage and the undertaking of repair work. None of this was immediately possible after the Covid-19 pandemic lockdown announcements in March 2020 and the matter was followed up in September with communication by the Team Rector to Cllr Linda Williams who was successor to Cllr Kelly as Portfolio Holder. Cllr Williams has not responded to the Team Rector’s several invitations to visit the site although a number of visits were made by Council Officers.

Repeated invitations to representatives of Historic England were also declined and we told it was “policy” not to make site visits during lockdown. A representative from Historic England finally joined a site meeting (comprising ourselves, DAC, Council Officers, Church architect) on 3rd September 2021 during which the Team Rector drew attention to bases of the 12th century north doorway which had crumbled significantly over the previous few months. The efflorescence on pillars, wall and 14th Century Hilton monument had continued to broaden and move upwards. As was agreed in March 2019 the meeting concluded again that a comprehensive subterranean survey would be the most effective way forward. There was no agreement or idea where the money would come from to pay for this.

In November when nothing further was heard from the Sunderland City Council or from Historic England the Team Rector and Archdeacon of Sunderland arranged a meeting with Julie Elliott MP and this was set for 28th January, 2022.

The Incumbent who served during the year and up to the date of signature of the financial statements were: Reverend R Bradshaw

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Update April 2022. There still has been no progress. The Council has made no direct communication with the Parish although the Executive Director of Corporate Services told St Peter’s Ward Councillor Josh McKeith (whom the Team Rector has kept informed of developments) via email that Sunderland City Council would not assist in the costs of a survey or in any other way as this would be tantamount to an admission of liability and furthermore indicated that in the opinion of the City Council there was no evidence that the Council was at fault and that the damage was caused by the “topography” of the site.. A Conservative candidate for the St Peter’s Ward elections in May has taken a political stance on the issue undertaking “to secure the funding needed to stop St Peter’s Church from crumbling following the Labour Council’s botched repair scheme”.

All Saints’ Church

There were no building works of significance required to be carried out at All Saints’ during the year 2021.

Lent Course 2021

The 2021 Lent Course “Becoming one in Christ – a journey through the lens of racial justice”, put together by Durham Diocese as part of a response to the issues raised by BAME, was held via Zoom with a good representation across the parish taking part.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Parish Administration and Communication

In 2021 the Parish Office continued to serve effectively the whole Parish, including the work for PCC and DCC meetings, liturgical and educational productions, oversight of the arrangement of occasional offices (including from May the revised national approach to the recording of weddings), the distribution of mailings and communication with the three churches and other agencies . The production of the Parish Magazine, suspended in 2020 during the lockdown resumed in 2021. The wardens continue to be an important part of our communication network, as well as volunteers who from time to time assist the Parish Administrator in her tasks. The parish website and Facebook page and Twitter feed continues to be overseen by Jacky Wake.

The Wednesday Surgery Team for the booking of weddings resumed in 2021. The Parish Office is open between 6.15pm and 7.15pm for this purpose. Discussion of arrangements for baptisms continue to be made by prior arrangement by telephone. The large numbers which continue to request baptisms had for many years made a “drop in” arrangement to Surgery on a Wednesday night a time-consuming experience for all concerned with enquirers sometimes having to wait over an hour in a queue to be seen. Hence the continuation of the telephone booking arrangement now in place.

Mission and Hospitality

Hospitality and welcome are an essential part of our mission through our three churches, and is expressed according to local context.

Mission and Pastoral Care

Other ongoing aspects of mission in 2021 included:

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Looking Forward

The trustees' report was approved by the Board of Incumbent.

.............................. Reverend R Bradshaw Trustee

Date: .............................................

PARISH OF MONKWEARMOUTH

INDEPENDENT EXAMINER'S REPORT

TO THE INCUMBENT OF PARISH OF MONKWEARMOUTH

I report to the Incumbent on my examination of the financial statements of Parish of Monkwearmouth (the ) for the year ended 31 December 2021.

Responsibilities and basis of report

As the Incumbent of the you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the ’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Rebecca Davison, ACA

12 Bessemer Court, Hownsgill Ind Park Consett Co Durham DH8 7BL

Dated: .........................

PARISH OF MONKWEARMOUTH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
2020
£
74,932
30,812
75
105,819
115,217
funds funds funds funds
2021 2021 2021 2020 2020
£ £ £ £ £
Income from:
Donations and legacies
3		 107,159 55,690 162,849 73,349 1,583
Charitable activities
4		 29,736 60 29,796 30,812 -
Investments
5		 3 7 10 22 53
Total income 136,898 55,757 192,655 104,183 1,636
Expenditure on:
Charitable activities
6		 115,104 8,464 123,568 101,995 13,222
Net incoming/(outgoing)
resources before transfers		 2,188
21,794 47,293 69,087 (11,586) (9,398)
Gross transfers between
funds
Net income/(expenditure) for
the year/		 -
69,087		 -
(1,097) 1,097 (2,200) 2,200
Net movement in funds 20,697 48,390 (12) (9,386) (9,398)
Fund balances at 1 January
2021		 205,994
196,596
127,070 69,526 196,596 130,082 75,912
Fund balances at 31
December 2021
147,767 117,916 265,683 130,070 66,526

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

PARISH OF MONKWEARMOUTH

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes 2021 2020
£ £ £ £
Fixed assets
Tangible assets
11
Current assets		 2,771
221,233
224,004
(4,863)		 46,542
219,141
265,683
117,916
147,767
265,683		 2,669
147,248
149,917
(2,475)		 49,154
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
13
Net current assets 147,442
Total assets less current liabilities
196,596
Income funds
Restricted funds 66,526
Unrestricted funds 130,070
196,596

The financial statements were approved by the Incumbent on .........................

.............................. Reverend R Bradshaw Trustee

PARISH OF MONKWEARMOUTH

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
18
Investing activities		 2021 2020 £
£ £ £
10 73,975
10
-
73,985
147,248
221,233		 75
(13,519)
75
-
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
(13,444)
160,692
147,248

FOR THE YEAR ENDED 31 DECEMBER 2021

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the 's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Fund Structure

General funds represent 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 unrestricted.

The accounts include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of Church groups that owe their main affiliation to another body nor those that are informal gatherings of Church members.

1.2 Going concern

At the time of approving the financial statements, the Incumbent have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the Incumbent continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Incumbent in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the .

1.4 Income

Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

Legacies are recognised on receipt or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 25% Straihgt Line Fixtures and fittings 25% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the 's balance sheet when the becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

FOR THE YEAR ENDED 31 DECEMBER 2021

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the ’s accounting policies, the Incumbent are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

3 Voluntary income

Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
£
£		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
Unrestricted
Restricted		 Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Covenants 47,636 - 47,636 41,026 - 41,026
Tax recoverable on gift
aid
12,782 - 12,782 12,422 - 12,422
Collections (open plate)
at all services
5,818 217 6,035 4,694 - 4,694
Gift days 330 - 330 123 - 123
Sundry Income 3,479 492 3,971 4,834 373 5,207
Uncovenanted 987 - 987 5,883 - 5,883
Fetes, Bazaars & other
fund raising events
36,127 54,981 91,108 4,367 1,210 5,577
107,159 55,690 162,849 73,349 1,583 74,932

4 Church activities

Charitable
Activities
Charitable
Activities
2021
2020
£
£
Magazines
304
1,061
Fees and Commissions
19,242
14,585
Church Hall lettings
4,432
4,264
Letting of Lonsdale Road
4,270
6,586
Other income
1,548
3,232
Donations
-
1,084
29,796
30,812		 Charitable
Activities
Charitable
Activities
2021
2020
£
£
Magazines
304
1,061
Fees and Commissions
19,242
14,585
Church Hall lettings
4,432
4,264
Letting of Lonsdale Road
4,270
6,586
Other income
1,548
3,232
Donations
-
1,084
29,796
30,812		 Charitable
Activities
Charitable
Activities
2021
2020
£
£
Magazines
304
1,061
Fees and Commissions
19,242
14,585
Church Hall lettings
4,432
4,264
Letting of Lonsdale Road
4,270
6,586
Other income
1,548
3,232
Donations
-
1,084
29,796
30,812
2021 2020
£ £
304 1,061
19,242 14,585
4,432 4,264
4,270 6,586
1,548 3,232
- 1,084
29,796 30,812
Analysis by fund
Unrestricted funds 29,736 30,812
Restricted funds 60 -
29,796 30,812

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

5 Investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Interest receivable 3 7 10 22 53 75

6 Church Activities

Charitable
Activities
Charitable
Activities
2021
2020
£
£		 Charitable
Activities
Charitable
Activities
2021
2020
£
£		 Charitable
Activities
Charitable
Activities
2021
2020
£
£
2021 2020
£ £
Salaries 5,755 5,071
Depreciation and impairment 2,612 2,611
Church Running Expenses 9,287 8,048
Fees 8,537 8,103
Church Hall and Property running costs 25,249 25,483
Letting of Lonsdale Road 4,397 1,808
Other costs 6,021 5,009
Diocesan and deanery quota 28,000 21,476
Clergy expenses 3,556 3,516
Upkeep of services 80 163
Architect costs 1,332 -
Expenditure on parish magazine 124 316
Church maintenance 13,303 19,511
108,253 101,115
Grant funding of activities (see note 7) 3,250 3,371
Share of governance costs (see note 8) 12,065 10,731
Analysis by fund
123,568 115,217
Unrestricted funds 115,104 101,995
Restricted funds 8,464 13,222
123,568 115,217

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

7 Grants payable

Chariable
Giving
Charitable
Giving
2021
2020
£
£		 Chariable
Giving
Charitable
Giving
2021
2020
£
£		 Chariable
Giving
Charitable
Giving
2021
2020
£
£		 Chariable
Giving
Charitable
Giving
2021
2020
£
£
2021 2020
£ £
Missionary societies:
Home missions and other church societies 3,250 3,371
-
Support costs
Support
costs
Governance
costs
£
£
Salary of Parish
administrator
-
7,126		 2021
Support costs
Governance
costs		 2020
£ £ £ £ £ £
- 7,126 7,126 - 7,126 7,126
Depreciation - - - - 537 537
Accountancy - 2,400 2,400 - 2,400 2,400
Printing, postage and
stationary
- 2,118 2,118 - 343 343
Bank charges - 421 421 - 325 325
- 12,065 12,065 - 10,731 10,731
Analysed between
Charitable activities - 12,065 12,065 - 10,731 10,731

8 Support costs

Governance costs includes payments to the auditors of £0 (2020- £0) for audit fees.

9 Incumbent

None of the Incumbent (or any persons connected with them) received any remuneration or benefits from the during the year.

10 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
3 3

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

10 Employees (Continued)
Employment costs 2021 2020
£ £
Wages and salaries 12,881 12,197

During the year PCC employed a parish administrator. The individual churches also employed staff, details of which can be found in the relevant church financial statements. Payments totalling £3,556 (2020: £4,156) were paid to DDBF for clergy fees.

There were no employees whose annual remuneration was more than £60,000.

11 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 January 2021
94,631
11,956
At 31 December 2021
94,631
11,956
Depreciation and impairment
At 1 January 2021
46,173
11,260
Depreciation charged in the year
2,366
246
At 31 December 2021
48,539
11,506
Carrying amount
At 31 December 2021
46,092
450
At 31 December 2020
48,458
696
12
Debtors
2021
Amounts falling due within one year:
£
Corporation tax recoverable
2,258
Prepayments and accrued income
513
2,771		 Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 January 2021
94,631
11,956
At 31 December 2021
94,631
11,956
Depreciation and impairment
At 1 January 2021
46,173
11,260
Depreciation charged in the year
2,366
246
At 31 December 2021
48,539
11,506
Carrying amount
At 31 December 2021
46,092
450
At 31 December 2020
48,458
696
12
Debtors
2021
Amounts falling due within one year:
£
Corporation tax recoverable
2,258
Prepayments and accrued income
513
2,771		 Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 January 2021
94,631
11,956
At 31 December 2021
94,631
11,956
Depreciation and impairment
At 1 January 2021
46,173
11,260
Depreciation charged in the year
2,366
246
At 31 December 2021
48,539
11,506
Carrying amount
At 31 December 2021
46,092
450
At 31 December 2020
48,458
696
12
Debtors
2021
Amounts falling due within one year:
£
Corporation tax recoverable
2,258
Prepayments and accrued income
513
2,771		 Total
£ £ £
94,631 11,956 106,587
94,631 11,956 106,587
46,173 11,260 57,433
2,366 246 2,612
48,539 11,506 60,045
46,092 450 46,542
48,458 696 49,154
2021 2020
£ £
2,258 2,256
513 413
2,771 2,669

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2021 2020
£ £
Accruals and deferred income 4,863 2,475

There has been a surplus of £8,000 (2020: £13,750) on the amount of £20,000 (2020: £35,000) which was due to be paid under the Diocesan Parish Quota assessment.

14
Analysis of net assets between funds		 14
Analysis of net assets between funds		 14
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31
December 2021 are
represented by:
Tangible assets
46,542
-
Current assets/(liabilities)
104,225
114,916
150,767
114,916		 Total
Unrestricted
funds
Restricted
funds		 Total
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
46,542 - 46,542 49,154 - 49,154
104,225 114,916 219,141 80,916 66,526 147,442
150,767 114,916 265,683 130,070 66,526 196,596

15 Unrestricted Funds

Balance at Balance at Attributable Attributable Balance at
01.01.2021 Income Expenditure Transfers 31.12.2021
£ £
 £ £
 £
Capital Funds:
Property
 48,458 (2,366) 46,092
Fixtures & Fittings 696 (246) 450
Designated and
general funds 80,916 136,898 (110,492) (1,097) 106,225
130,070 136,898 (113,104)
 (1,097) 152,767

All non-capital unrestricted funds are designated as to use by the PCC of each member Church of the PCC. Details of each PCC's designated funds are provided in the relevant PCC's accounts.

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

16 Restricted funds

Each PCC hold fund which are restricted as to use under the terms of bequests and donations. Details of each PCC's restricted funds are too numerous to report here. Instead a details summary of each fund's movements together with the purposes for which each can be utilised, is set out in the relevant PCC's accounts.

The various funds held by each member PCC can be summarised as follows:



All Saints'

Parish of Monkwearmouth
St. Andrew's

St. Peter's

 Capital
Designated
General Restricted
Total
£ £
£
£ £
-
-
21,018 102,796
123,814
46,542 210
45,104 1,840
93,696
-
3,934
8,415
1,790
14,139
-
12,717
11,827
11,490
36,034
46,542
16,861
86,364 117,916
267,683

17 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

18
Cash generated from operations		 2021 2020
£
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Amortisation and impairment of intangible assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Cash generated from/(absorbed by) operations		 £
69,087
(9,398)
(10) (75)
- 537
2,611
1,411
2,612
(100)
2,386
(8,605)
73,975
(13,519)		 (8,605)
19
Analysis of changes in net funds
The had no debt during the year.