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2022-12-31-accounts

PARISH OF MONKWEARMOUTH

ANNUAL REPORT AND FINANCIAL STATEMENTS

OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2022

PARISH OF MONKWEARMOUTH

LEGAL AND ADMINISTRATIVE INFORMATION

Incumbent Reverend R Bradshaw
Independent examiner Rebecca Davison
12 Bessemer Court
Hownsgill Industrial Park
Knitsley Lane
Consett
Co Durham
DH8 7BL
Bankers National Westminster Bank Plc
52 Fawcett Street
Sunderland
SR1 1SB

PARISH OF MONKWEARMOUTH

CONTENTS

Page
Trustees' report 1 - 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the financial statements 13 - 23

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report and financial statements for the year ended 31 December 2022.

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 Charity's Parochial Church Council Powers Measure (1956), 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 (ordained priest at Petertide 2022) Associate Minister The Revd Dr Philip Smithson Readers Mr David Henderson Mr John Pattinson Mrs Lilian Jordan 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 (Emeritus) All Saints’, Fulwell Mrs Anne Kemp St. Peter’s, Monkwearmouth Lay Vice Chair Mr John Pattinson PCC Secretary Mrs Eleanor Wilson PCC Treasurer Mr Ron Marsden

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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 Muriel Tully All Saints’ Mrs Diana Matthew All Saints’(until her death in October 2022) Mrs Anne-Marie Kemp St. Peter’s Mr Fred Raffle St. Peter’s Mrs Drina Gowland Mrs Lilian Jordan (ex officio as Licensed Reader) Mr Bob Francis (ex officio as Parish Safeguarding Officer)

Parochial Church Council

The P.C.C. met on 31[st] January, 9[th] May, 11[th] July and 10[th] October, 2022.

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. Each DCC meets on a number of occasions throughout the year.

Church Statistics

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 2022 was approximately 70 adults. There were weddings in the churches of the Parish during 2022.

FOR THE YEAR ENDED 31 DECEMBER 2022

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

Ministerial Resources and Staffing

The Parish has three stipendiary 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 the Assistant Curate in training, the Revd Timothy May, who was ordained as priest at Petertide. The Revd Dr Philip Smithson also serves as a self-supporting priest with Permission to Officiate, helping to support mission and ministry through preaching, presiding at the Eucharist and as part of the Pastoral Team.

After over thirty years of faithful lay pastoral ministry, most recently in the formal role as an Authorised Pastoral Assistant (APA) Carol Pattinson decided the moment was right to step back from the latter. She continues offer an insightful contribution to pastoral care within the parish. In September Allison Young continues to work as a Lay Pastoral Assistant to the Parish and in October we were joined by Lilian Jordan who was licensed as a Reader. She also joined the pastoral team bringing with her the skills and experience of a number of years as an Authorised Pastoral Assistant. 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. David Henderson is also licensed to conduct funerals in which ministry he shares on occasion with the clergy.

The quarterly Memorial Service at All Saints’ Church for those who have been recently bereaved continues and is led by lay members of the Pastoral Team. Following over thirty years of faithful ministry in baptism preparation John Pattinson stepped back from this role, along with Val Hughes. The Rev Andrew Watson took over the lead in this area. Baptism families are now specifically invited to the monthly Celebrate service at St Andrew’s as part of the preparation alongside preparation evenings at All Saints Church on Thursday evenings.

The Team Rector and John Pattinson continued to the lead a “Zoom service” with the residents of the Glenholme residential home with a view to returning to the monthly “in person” Communion Service led by John Pattinson as soon as final restrictions were lifted.

Services

Regular congregational worship.

Regular worship at all three churches of the parish had resumed at the beginning of 2022, following the various Covid lockdown situations over the previous two years, and continued throughout the year. Namely, at St Andrew’s, Common Worship Eucharist with sermon on10am on all Sundays of the month apart from the first Sunday when “Celebrate!” café-style worship took place in the Priestman Hall; at All Saints, Common Worship Eucharist with sermon on all Sundays of the month apart from the second when there was a Service of the Word with sermon; and at St Peter’s when there was an 11am Common Worship Eucharist with sermon on all Sundays. Midweek services on Wednesdays were fully resumed in 2022 with Common Worship Eucharists with sermon taking place at 10am at All Saints’ Church and Book of Common Prayer Holy Communion with sermon taking place at 11am.

The Parochial Church Council continued to review the manner in which safely measures to limit the possibility of cross-infection during the Covid pandemic were carried out: namely the “intinction” of the wafer by the priest for all communicants at the Eucharist, the ceasing of the passing of the plate during the Offertory and the ceasing of shaking hands or other bodily contact during the Peace. There was no proposal to change any of these measures during 2022 with PCC members being unanimously in favour of this at each meeting.

Weddings, baptisms and funeral services

Weddings, baptisms and funeral services all took place as usual throughout 2022 with the churches of the parish hosting baptism services as follows: St Andrew’s on the 2[nd] Sunday, All Saints’ on the third Sunday and St Peter’s on the third Sunday of the month respectively.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

Financial review

2022 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 £20,000 and a further £6,000 was given. 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 offer and payments for 2022 (Request from the Diocese of Durham £71,838)

Pledged Paid
All Saints’ £10,000 £12,000
St.Peter’s
 £3,000 £7,000
St.Andrew’s
 £4,000 £5,000
Parish of Monkwearmouth £3,000 £3,000
£20,000 £27,000

The Parish of Monkwearmouth has always been committed to trying to pay the Parish Share (Pledge) 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. It is also true that in recent years a number of substantial legacies have been left to All Saints’ Church. However by and large the donors of these gifts specified that they are to be used for buildings purposes at All Saints’ Church and they currently remain in restricted funds although are being used carefully for various buildings projects at All Saints’ Church.

Throughout 2022 it was clear to the PCC and DCCs that the covid lockdown continued to leave its own legacy of exacerbation of 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 at St Peter’s, 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. Positively, 2022 has seen a gradual improvement in terms of finance from all pre-lockdown income streams.

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

PARISH OF MONKWEARMOUTH

St. Andrew's Church

The church building. As in 2021 2022 was largely a “holding year” with the exception of a number of emergency repairs. These included repair to broken tiles after exceptionally windy weather in February which required over £2000 to be spent on scaffolding costs, and to the tower door following a forced entry. Three panes of glass were broken in one of the south facing nave windows by vandalism and await repair at an estimated cost of £15K. There remain outstanding repairs to the central northside pinnacle of the nave which the church architect estimates to be in the region of £25K and also repairs to the church walls after a quantity of lime mortar has fallen out after only seven years. The PCC are hoping that the DAC will consider approving a more hardwearing substitute such as concrete as a replacement.

The Priestman Hall. Two MBA placement students from Sunderland University concluded their work giving suggestions for improvement to the building for community use, including access and re-decoration. The DCC has also given particular consideration as to works which might be carried out in this regard following the gift of a legacy of £20K left by a former church member. Quotations have been taken for a cost of a complete redecoration of the Hall (around £11K) and reordering of the kitchen. A quotation of £708 has also been received for the replacement of heater filters.

One of the toilets was also repaired.

The churchyard. St Andrew’s churchyard has always been a popular community space for people passing through or pausing a while to make use of the seating. This includes dog walkers. In recent years it has been increasingly noticeable that dog owners have been using the churchyard as an exercise space for their pets, allowing their dogs to run off lead, catching balls etc. One man was quite open in that he used the north side area of the church as a “training area” for his dog.

In a number of aspects this was becoming problematic. Firstly, the issue of dog-fouling. It was clear that some dogowners, although clearing up after their animals, were using the church green rubbish bins to deposit the waste rather than taking it home or depositing it in appropriate facilities. Secondly, damage to the grass – especially on the north side where the “training” took place. When the grass was wet and soft the ground was becoming churned up by the dog’s feet, was damaged and had to be re-seeded in a particular area. And thirdly, and most seriously there was an incident when a puppy was attacked by two larger dogs running free and suffered serious injury. In order to tackle this the DCC arranged for clear signs to be put up requesting that all dogs be kept on a lead. There were already signs regarding fouling. Also, for temporary locking of the “top gate” on the north side to discourage that part of the churchyard from being used as a “training area”.

The measures have been partially successful although clearly a number of people are disregarding the signs and still running their dogs free of leads or on exceptionally long, extendable leads. When approached we are met with responses ranging between polite apology, argumentativeness (“the churchyard belongs to the Council not you, and we are free to use it”) and rudeness and dismissiveness.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

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. In the autumn of 2022, as an additional qualified chef (also a congregation member) came on board, the Bakehouse has been able to open, additionally, on Tuesdays and Thursdays – ie. is now open every weekday. 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 was completed in the spring of 2022.

The issues connected with serious damage brought about by damp and its consequences – efflorescence, crumbling of masonry (including at the foot of the 12[th] century North Door) continues. Several walls (including lower parts of the 7[th] century West Wall and tower and a number of pillars continue to be affected

In November 2021 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 28[th] January, 2022. Ms Elliott made representations to the Council but without result.

During 2022 there has been no substantive progress. In the early part of the year one of the St Peter’s Ward Councillors identified £15000 (the amount required for an independent firm to conduct a subterranean survey) which would be available to St Peter’s as a community grant. However the same Councillor was later told that “higher authority” within the Council would not approve our application. Neither the Portfolio Holder for Culture and Communities nor any elected officer of the Sunderland City Council have made any further communication with the parish although Council officers in the architects’ department made contact in summer. This resulted in an agreement to undertake some initial investigations of three specified drains beneath the church building using CCTV equipment.

All Saints’ Church

There were no building works of significance required to be carried out at All Saints’ during the year 2022.

Lent Course 2022

The 2022 York Course “In the Wilderness”, was used as the Parish Lent Course which took on Monday evenings at All Saints’ church. It was well attended by a regular 22 church members from across the three churches of the parish.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

Parish Administration and Communication

In 2022 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 continued throughout 2022 as 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 continued to be overseen by Jacky Wake.

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 2022 included:

FOR THE YEAR ENDED 31 DECEMBER 2022

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

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 Charity) for the year ended 31 December 2022.

Responsibilities and basis of report

As the Incumbent of the Charity 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 Charity’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

12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co Durham DH8 7BL

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

PARISH OF MONKWEARMOUTH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
2
100,523
671
Charitable activities
3
45,035
738
Investments
4
28
192
Total income
145,586
1,601
Expenditure on:
Charitable activities
5
128,554
16,056
Net
incoming/(outgoing)
resources before
transfers
17,032
(14,455)
Gross transfers between
funds
249
(249)
Net income/(expenditure) for
the year/
Net movement in funds
17,281
(14,704)
Fund balances at 1
January 2022
147,767
117,916
Fund balances at 31
December 2022
165,048
103,212		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
101,194
107,159
55,690
45,773
29,736
60
220
3
7
147,187
136,898
55,757
144,610
115,104
8,464
2,577
21,794
47,293
-
(1,097)
1,097
2,577
20,697
48,390
265,683
127,070
69,526
268,260
147,767
117,916		 Total
2021
£
162,849
29,796
10
192,655
123,568
69,087
-
69,087
196,596
265,683

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 2022

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Unrestricted funds		 2022
£
3,106
225,510
228,616
(4,286)		 £
43,930
224,330
268,260
103,212
165,048
268,260		 2021
£
2,771
221,233
224,004
(4,863)		 £
46,542
219,141
265,683
117,916
147,767
265,683

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 2022

Notes
Cash flows from operating activities
Cash generated from operations
17
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
220		 £
4,057
220
-
4,277
221,233
225,510		 2021
£
10		 £
73,975
10
-
73,985
147,248
221,233

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

PARISH OF MONKWEARMOUTH

1 Accounting policies

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity Church Accounting Regulation's 2006, 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 Charity 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 Charity. 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.

1.2 Going concern

At the time of approving the financial statements, the Incumbent have a reasonable expectation that the Charity 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 Funds

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.

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1.4 Income recognition

Voluntary income and capital resources

All income is recognized once the charity has entitlement to the income, it is probable that the income will be received and the amount of income can be measured reliably.

Collections and subscriptions are recognised when received by or on behalf of the PCC.

Planned giving receivable under covenant is recognised only when received.

Income tax recoverable on covenants or gift aid donations is recognised when the income is received.

Grants and legacies to the PCC are accounted for as soon as the PCC is notified of its legal entitlement and the amount due.

Funds raised by the fete, garden party and similar events are accounted for gross.

Sales of books and magazines from the church bookstall are accounted for gross.

Other ordinary income

Rental income from the letting of church premises is recognised when the rental is due.

Income from investments

Dividends and interest are accounted for when receivable.

Tax recoverable on such income is recognised in the same accounting year.

Gains and Losses on Investments

Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on revaluation of investments at 31 December.

1.5 Expenditure recognition

Liabilities are recognized as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accrual’s basis.

Grants

Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation of the PCC.

Activities directly relating to the work of the Church

The diocesan quota or parish share is accounted for when payable. Any quota unpaid at 31[st] December is provided for in these accounts as an operational (though not a legal) liability and is shown as a creditor in the Balance Sheet but only to the extent that the PCC has the ability to discharge the liability.

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

1.6 Tangible fixed assets

Consecrated land and buildings and movable church furnishings

Consecrated and beneficed property is excluded from the accounts by S.96(2)(a) of the Charities Act 2011. No value is placed on movable church furnishings 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 benefice buildings and movable church furnishings, whether maintenance or improvement, is written off as expenditure in the SOFA and separately disclosed.

Freehold property

Freehold property used by the curate is depreciated on a straight-line basis over 40 years.

Other fixtures, fittings and equipment

Equipment used within the Church premises is depreciated on a straight-line basis over 4 years. Individual items of equipment with a purchase price of £1000 or less are written off when the asset is acquired.

1.7 Financial instruments

The Charity 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 Charity's balance sheet when the Charity 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.

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.

Amounts owing to the PCC at 31[st] December in respect of fees, rents or other income are shown as debtors less provision for amounts that may prove uncollectable.

Short-term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.

PARISH OF MONKWEARMOUTH

FOR THE YEAR ENDED 31 DECEMBER 2022

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

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 Charity’s contractual obligations expire or are discharged or cancelled.

2 Voluntary income

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Covenants
39,052
-
Tax recoverable on gift
aid
13,969
-
Collections (open plate)
at all services
8,269
290
Gift days
915
-
Sundry Income
1,989
232
Uncovenanted
3,523
-
Fetes, Bazaars & other
fund raising events
32,806
149
100,523
671		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
39,052
47,636
-
13,969
12,782
-
8,559
5,818
217
915
330
-
2,221
3,479
492
3,523
987
-
32,955
36,127
54,981
101,194
107,159
55,690		 Total
2021
£
47,636
12,782
6,035
330
3,971
987
91,108
162,849

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

3 Church activities

Charitable Charitable
Activities Activities
2022 2021
£ £
Magazines 986 304
Fees and Commissions 22,283 19,242
Church Hall lettings 9,689 4,432
Letting of Lonsdale Road 6,292 4,270
Other income 6,523 1,548
45,773 29,796
Analysis by fund
Unrestricted funds 45,035 29,736
Restricted funds 738 60
45,773 29,796

4 Investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Interest receivable 28 192 220 3 7 10

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

5 Church Activities

Charitable Charitable
Activities Activities
2022 2021
£ £
Salaries 12,766 5,755
Depreciation and impairment 2,612 2,612
Church Running Expenses 8,919 9,287
Fees 11,334 8,537
Church Hall and Property running costs 24,634 25,249
Letting of Lonsdale Road 466 4,397
Other costs 5,383 6,021
Diocesan and deanery quota 27,000 28,000
Clergy expenses 5,214 3,556
Upkeep of services 83 80
Architect costs 474 1,332
Expenditure on parish magazine 692 124
Church maintenance 28,993 13,303
128,570 108,253
Grant funding of activities (see note 6) 5,178 3,250
Share of governance costs (see note 7) 10,862 12,065
144,610 123,568
Analysis by fund
Unrestricted funds 128,554 115,104
Restricted funds 16,056 8,464
144,610 123,568
6 Grants payable
Chariable Charitable
Giving Giving
2022 2021
£ £
Missionary societies:
Home missions and other church societies 5,178 3,250

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

6 Grants payable

(Continued)

-

7 Support costs

Support
costs
Governance
costs
£
£
Salary of Parish
administrator
-
7,339
Accountancy
-
2,640
Printing, postage and
stationary
-
444
Bank charges
-
439
-
10,862
Analysed between
Charitable activities
-
10,862		 2022Support costs Governance
costs
£
£
£
7,339
-
7,126
2,640
-
2,400
444
-
2,118
439
-
421
10,862
-
12,065
10,862
-
12,065		 2021
£
7,126
2,400
2,118
421
12,065
12,065

Governance costs includes payments to the independent examiner of £2,640 (2021- £2,400).

8 Incumbent

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

9 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
3 3
Employment costs 2022 2021
£ £
Wages and salaries 20,105 12,881

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

9 Employees

(Continued)

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 £5,214 (2021: £3,556) were paid to DDBF for clergy fees.

10 Tangible fixed assets

Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 January 2022
94,631
11,956
At 31 December 2022
94,631
11,956
Depreciation and impairment
At 1 January 2022
48,539
11,506
Depreciation charged in the year
2,366
246
At 31 December 2022
50,905
11,752
Carrying amount
At 31 December 2022
43,726
204
At 31 December 2021
46,092
450
11
Debtors
2022
Amounts falling due within one year:
£
Tax recoverable
2,690
Prepayments and accrued income
416
3,106		 Total
£
106,587
106,587
60,045
2,612
62,657
43,930
46,542
2021
£
2,258
513
2,771

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

12 Creditors: amounts falling due within one year

Other creditors
Accruals and deferred income
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31
December 2022 are
represented by:
Tangible assets
43,930
-
Current
assets/(liabilities)
121,118
103,212
165,048
103,212		 Total Unrestricted
funds
2022
2021
£
£
43,930
46,542
224,330
104,225
268,260
150,767		 2022
£
675
3,611
4,286
Restricted
funds
2021
£
-
114,916
114,916		 2021
£
-
4,863
4,863
Total
2021
£
46,542
219,141
265,683

13 Analysis of net assets between funds

14 Unrestricted Funds

----- Start of picture text -----
Balance at Attributable Balance at
01.01.2022 Income Expenditure Transfers 31.12.2022
£ £ £ £ £
Capital Funds :
Property 46,092 (2,366) 43,726
Fixtures & Fittings 450 (246) 204
Designated and
general funds 101,225 145,586 (125,942) 249 121,118
147,767 145,586 (128,554) 249
165,048
----- End of picture text -----

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 2022

15 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:

Capital Designated General Restricted Total

£ £
 £ £
£
All Saints'
 - - 19,508 95,534 115,042
Parish of Monkwearmouth 43,931 - 47,660
1,840 93,431
St. Andrew's
 - 3,934 33,772 2,510 40,216
St. Peter's
 - 8,659 7,584 3,328 19,571
43,931 12,593 108,524 103,212 268,260

16 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

17
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
(Decrease)/increase in creditors
Cash generated from operations		 2022
£
2,577
(220)
2,612
(335)
(577)
4,057		 2021
£
69,087
(10)
2,612
(100)
2,386
73,975

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2022

18 Analysis of changes in net funds

The Charity had no debt during the year.