OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-12-31-accounts

PARISH OF MONKWEARMOUTH

ANNUAL REPORT AND FINANCIAL STATEMENTS

OF THE PAROCHIAL CHURCH COUNCIL

FOR THE YEAR ENDED 31 DECEMBER 2023

PARISH OF MONKWEARMOUTH

LEGAL AND ADMINISTRATIVE INFORMATION

Incumbent Reverend R Bradshaw
Independent examiner Stephen Lamb, FCA
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 - 10
Independent examiner's report 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 27

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report and financial statements for the year ended 31 December 2023.

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 2023 (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) Minister with permission to officiate 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 2023

Representatives on the Deanery Synod

Mrs Evelyn Nicholson St. Peter’s Mr Malcolm Drummond St. Andrew’s Mrs Lilian Jordan Representing the whole parish in her capacity as Reader Elected Members Miss Christine Chadwick St Andrew’s Mrs Joyce Pratt All Saints’ Mrs Linda Hughes All Saints’ Mrs Muriel Tully All Saints’ 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 30[st] January, 24[th] April, 17[th] July and 9[th] October, 2023.

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 (DCC). 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 143 parishioners on the parochial roll, of whom 34 are not resident in the parish.

The average Sunday Parish Adult Attendance figure for 2023 was approximately 53 adults. There were weddings in the churches of the Parish during 2023.

FOR THE YEAR ENDED 31 DECEMBER 2023

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. The Revd Dr Philip Smithson continued to serve 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.

Allison Young continued to work as a Lay Pastoral Assistant and John Pattinson, David Henderson and Lilian Jordan continued in their work as Readers across the Parish. 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. Baptism preparation has continued to be led the Rev Andrew Watson with the assistance of the Rev Tim May and Malcolm Drummond. Until November Baptism families were 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.

John Pattinson continued to take Holy Communion into Glenholme Residential Care Home on a monthly basis.

Services

Regular congregational worship.

Regular worship at all three churches of the parish continued as normal throughout 2023 Namely, at St Andrew’s, Common Worship Eucharist with sermon at 10am on all Sundays of the month apart from the first Sunday when “Celebrate!” café-style worship took place in the Priestman Hall; 10.30am at All Saints, Common Worship Eucharist with sermon on all Sundays of the month apart from the second Sunday when there was a Service of the Word with sermon; and 11am at St Peter’s when there was a Common Worship Eucharist with sermon on all Sundays.

The average Sunday Parish Church attendance figure for 2023 was approximately 52 adults. 24 baptisms took place across the parish along with six weddings and 37 funeral services.

A final Celebrate service took place on the first Sunday in November at St Andrew’s. St Andrew’s DCC considered that original hope to grow numbers by providing a different, more contemporary style of worship was proving unsuccessful although it was acknowledged that the eight years of Celebrate had brought many positive worship experiences. It was also felt that the anticipated reduction in the clergy numbers in the coming months required a non-Eucharistic liturgical Service of the Word which could be straightforwardly prepared and led by Readers and other lay persons. Celebrate had typically required a considerable amount of time preparing overhead visuals, sound technology and materials for congregational participation.

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Services (continued)

Regular congregational worship

Midweek services on Wednesdays continued throughout 2023 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 at St Peter’s.

The Parochial Church Council continued to review the manner in which safely measures to limit the possibility of cross-infection during the Covid pandemic had been carried out since July 2020: namely the “intinction” (dipping) of the wafer by the priest for all communicants at the Eucharist, the ceasing of the passing of the plate during the Offertory (having an “open plate” at the back of church instead) and the ceasing of shaking hands or other bodily contact during the Peace (giving a hand wave instead).

There was, in the early part of 2023, a sense from a number of PCC members that the time had come to return to drinking directly from the chalice. After consideration the Team Rector proposed that the practice should be a parish-wide return to drinking directly from the chalice with the option of having a wafer dipped in the wine by the celebrant for those who preferred this or to receive just the wafer.

It was also proposed that the passing of the Peace should continue to be a general, friendly wave or a physical greeting exchanged with those immediately close by. It was felt by the PCC that a return to the pre-Covid more general movement around the church to exchange greetings unnecessarily prolonged the service and disrupted the flow of worship. It was agreed to continue the arrangement of the offertory being collected at the beginning of the service at the back of church rather than being collected in plates during the Offertory hymn.

Among other things to note during 2023 were the various services, worship events and gatherings to mark the beginning of the year-long celebration of the 1350[th] anniversary of the foundation of St Peter’s in 674AD as the first of the two monastic houses which became the monastery of Wearmouth-Jarrow. On Thursday, 25[th] May, the Feast of Bede, St Peter’s hosted a Deanery Confirmation Service which coincided with the Bishop of Durham’s final Deanery “Prayer Walk” before his retirement in February 2024.

Also on 24[th] September a service was held at St Andrew’s to celebrate and mark the 75[th] anniversary of the Dedication of the ten bells in the tower at which the Bishop of Durham celebrated and preached.

Weddings, baptisms and funeral services

Weddings, baptisms and funeral services all took place as usual throughout 2023 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.

Achievements and performance

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

2023 was, once again, a very challenging year. Buildings maintenance commitments – particularly for St. Andrew’s - continued to make heavy financial demands. 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 2023. Diocesan Request £86015

Pledged Paid
All Saints’ £10000 £9000
St.Peter’s £8000 £2000
St.Andrew’s £7000 £4000
Parish of Monkwearmouth £5000 £5000
(from central funds) £30000 £20000

Diocesan Request for 2024 is £57937 a drop of nearly £30000 from the previous year.

The suggestion as to how we could make an offer which was a realistic reflection of our means was proposed at the PCC meeting on 9[th] October 2024 was as follows:

St Andrew’s £7000 All Saints’ £10000 St Peter’s £7000 Parish £6000 Total £30000

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. Over the past few years a number of substantial legacies have been left to All Saints’ Church which have enabled the replacement of the fifty year old gas boiler following its breakdown in 2023 and the installation of a new heating system following the Diocesan direction of a net zero carbons emissions target by 2030 and also the reordering of the chancel, including the removal of choir stalls to create a new worship area at the east end of the church for midweek and other services and gatherings.

FOR THE YEAR ENDED 31 DECEMBER 2023

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

St. Andrew's Church

The church building. 2023 saw general ongoing repairs to the building including the replacement of several panes of glass in one of the nave windows on the south side which were smashed by hooliganism. The alarm system was also upgraded and renewed. A major piece of structural work became apparent in November when a substantial amount of water was penetrating the ringing chamber causing disintegration of the plaster on the wall of the northern side of the tower. At the close of 2023 it was apparent that professional advice was required from our nominated architect.

The Priestman Hall. The Priestman Hall underwent a complete redecoration during the summer of 2023 with the walls, ceiling and passageway being re-painted at a cost of £11336. This was made possible following a generous bequest from a former congregation member who had recently passed away.

St. Peter's Church

There have been no substantive developments or further offers from Sunderland City Council to assist in the investigation the remedying of the cause of the efflorescence affecting the walls and pillars in the church building despite undertakings made in 2020. In the absence of any other obvious contender for causation it remains likely that the work undertaken by Sunderland City Council in the churchyard with the inadequate drainage provision at the foot of the church walls remains the most likely cause of the damage. It remains the case in our opinion that Sunderland City Council still have a case to answer. Despite engaging the assistance of local MP Julie Elliott in discussion with Council leaders there has still been no progress. The recommendation by the DAC and others in February 2019 that the best course of action would be an holistic subterranean survey beneath the church (at an estimated cost in 2019 money of £15K) has not been pursued because of finance and the question where this money might come from. Despite conversations at every level of the Diocese and the City Council we remain at an impasse.

The church tower was professionally cleaned during 2023 with the removal of a large amount of bird excrement and other detritus which had accumulated over the past number of years.

Bede’s Bakehouse café (in St Peter’s “Chapter House”) continues to open on Monday, Wednesday and Friday lunchtimes and remains a very popular venues for groups and individuals to eat. During 2023 representatives of the Food Standards Agency made an inspection and the café received a “Five” (the highest score) on the hygiene rating.

The Bakehouse continued to attract 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. The café continued to be run by Mrs Anne Kemp with a team of volunteer assistants and is overseen by a Board which meets approximately every six weeks to discuss developments, issues and improvements. Currently the Bakehouse is bidding for a brand-new fitted kitchen.

FOR THE YEAR ENDED 31 DECEMBER 2023

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

All Saints’ Church

In the Spring of 2023 it became clear that the fifty year old gas boiler which had provided heating for the church building had broken irreparably and would need to be replaced. Consulting with the DAC we took note of the aim of Durham Diocese that all church buildings be, as far as possible carbon-neutral. Over a period of weeks we considered various options including heat pumps, heated pews and “zoned” areas of the church which might provide warmth via wall-mounted infra-red heaters. This included visiting a church in the south of the Diocese which had the latter installed. After discussion with members of the DAC it was agreed that having considered all these options none was ultimately suitable for providing the decent heating required for a 19[th] century church building and that a “hydrogen-ready” gas powered boiler would be most suitable.

At the same time, and as part of the same Faculty application process, it was decided that the right time had come to re-order the chancel area of the church including the removal of the long-redundant choir stalls, to be replaced by chairs for the use of smaller congregations for midweek and other services. This would include wall mounted infra-red heaters (so the gas heating would not always be necessary), recarpeting, provision of a handrail adjacent to the steps and a general tidy-up of the area including re-staining of a number of the varnished wooden panels

Lent Course 2023

The 2023 Lent Course came from the Church of England learning resources known as “Pilgrim” with the focus being the series of sessions on the Eucharist. The sessions took place at Tuesday mornings throughout Lent at All Saints’ Church. It was well attended by a regular 22 church members from across the three churches of the parish.

FOR THE YEAR ENDED 31 DECEMBER 2023

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

Parish Administration and Communication

In 2023 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, the distribution of mailings and communication with the three churches and other agencies . The production of the Parish Magazine continued throughout 2023 as an important part of our comunication network, as well as volunteers who from time to time assist the Parish Administrator in her tasks. Jacky Wake who for a number of years had faithfully overseen the parish website, Facebook page and Twitter (now “X”) feed moved away from Sunderland and these have been overseen on a temporary basis by the Reverend Tim May with a gradual handover to Steven Middleton.

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 2023 included:

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

Looking Forward

PARISH OF MONKWEARMOUTH

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

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

Reverend R Bradshaw

Trustee

21 April 2024

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 2023.

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.

Stephen Lamb, FCA

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

Dated: 21 April 2024

PARISH OF MONKWEARMOUTH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
2
106,190
2,724
Charitable activities
3
46,795
1,934
Investments
4
269
844
Total income
153,254
5,502
Expenditure on:
Charitable activities
5
161,714
25,637
Total expenditure
161,714
25,637
Net income/(expenditure)
(8,460)
(20,135)
Transfers between
funds
(22,350)
22,350
Net movement in
funds
8
(30,810)
2,215
Reconciliation of funds:
Fund balances at 1 January
2023
165,048
103,212
Fund balances at 31 December
2023
134,238
105,427		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
108,914
100,523
671
48,729
45,035
738
1,113
28
192
158,756
145,586
1,601
187,351
128,554
16,056
187,351
128,554
16,056
(28,595)
17,032
(14,455)
-
249
(249)
(28,595)
17,281
(14,704)
268,260
147,767
117,916
239,665
165,048
103,212		 Total
2022
£
101,194
45,773
220
147,187
144,610
144,610
2,577
-
2,577
265,683
268,260

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 2023

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
Net current assets
Total assets less current liabilities
Net assets excluding pension liability
The funds of the Charity
Restricted income funds
15
Unrestricted funds		 2023
£
10,253
192,701
202,954
(4,649)		 £
41,360
198,305
239,665
239,665
105,427
134,238
239,665		 2022
£
3,106
225,510
228,616
(4,286)		 £
43,930
224,330
268,260
268,260
103,212
165,048
268,260

The financial statements were approved by the Incumbent on 21 April 2024

Reverend R Bradshaw Trustee

PARISH OF MONKWEARMOUTH

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
21
Investing activities
Investment income received
Net cash generated from investing activities
Net cash used in financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
1,113		 £
(33,922)
1,113
-
(32,809)
225,510
192,701		 2022
£
220		 £
4,057
220
-
4,277
221,233
225,510

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

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 2023

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 2023

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
2023
2023
£
£
Donations, appeals and
legacies
64,516
-
Tax recoverable on gift
aid
13,782
-
Collections (open plate)
at all services
8,488
410
Gift days
1,002
-
Sundry Income
3,410
2,116
Uncovenanted
7,219
-
Fetes, Bazaars & other
fund raising events
7,773
198
106,190
2,724		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
64,516
39,052
-
13,782
13,969
-
8,898
8,269
290
1,002
915
-
5,526
1,989
232
7,219
3,523
-
7,971
32,806
149
108,914
100,523
671		 Total
2022
£
39,052
13,969
8,559
915
2,221
3,523
32,955
101,194

Included in the the figure of donations. appeals and legacies is a legacy of £27,234 received in the year.

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

3 Church activities

Charitable Charitable
Activities Activities
2023 2022
£ £
Magazines 1,058 986
Fees and Commissions 16,820 22,283
Church Hall lettings 18,754 9,689
Letting of Lonsdale Road 6,432 6,292
Other income 5,665 6,523
48,729 45,773
Analysis by fund
Unrestricted funds 46,795 45,035
Restricted funds 1,934 738
48,729 45,773

4 Income from investments

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Interest receivable 269 844 1,113 28 192 220

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

5 Church Activities

Charitable Charitable
Activities Activities
2023 2022
£ £
Salaries 13,496 12,766
Depreciation and impairment 2,570 2,612
Church Running Expenses 14,682 8,919
Fees 10,907 11,334
Church Hall and Property running costs 42,375 24,634
Letting of Lonsdale Road 565 466
Other costs 17,874 5,383
Diocesan and deanery quota 24,000 27,000
Clergy expenses 5,950 5,214
Upkeep of services - 83
Architect costs 1,121 474
Expenditure on parish magazine - 692
Church maintenance 37,078 28,993
170,618 128,570
Grant funding of activities (see note 6) 4,443 5,178
Share of governance costs (see note 7) 12,290 10,862
187,351 144,610
Analysis by fund
Unrestricted funds 161,714 128,554
Restricted funds 25,637 16,056
187,351 144,610
6 Grants payable
Chariable Charitable
Giving Giving
2023 2022
£ £
Missionary societies:
Home missions and other church societies 4,443 5,178

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

(Continued)

6
Grants payable
-
7
Support costs
Support
costs
Governance
costs
£
£
Salary of Parish
administrator
-
7,950
Accountancy
-
2,905
Printing, postage and
stationary
-
1,037
Bank charges
-
398
-
12,290
Analysed between
Charitable activities
-
12,290		 (Con
2023Support costs Governance
costs
£
£
£
7,950
-
7,339
2,905
-
2,640
1,037
-
444
398
-
439
12,290
-
10,862
12,290
-
10,862		 tinued)
2022
£
7,339
2,640
444
439
10,862
10,862

Governance costs includes payments to the independent examiner of £2,905 (2022- £2,640).

8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
Depreciation of tangibles: Total SOFA charge differs from BS notes by:
Impairments: Total SOFA charge or credit differs from BS notes by:		 2023
£
2,570
204
(204)		 2022
£
2,612
246
(246)

9 Incumbent

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

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

10 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
3 3
Employment costs 2023 2022
£ £
Wages and salaries 21,446 20,105

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 £5,950 (2022: £5,214) were paid to DDBF for clergy fees.

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

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

12
Tangible fixed assets
Freehold land
and buildings
£
Cost
At 1 January 2023
94,631
Disposals
-
At 31 December 2023
94,631
Depreciation and impairment
At 1 January 2023
50,905
Depreciation charged in the year
2,366
Eliminated in respect of disposals
-
At 31 December 2023
53,271
Carrying amount
At 31 December 2023
41,360
At 31 December 2022
43,726
13
Debtors
Amounts falling due within one year:
Tax recoverable
Prepayments and accrued income
14
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 Fixtures and
fittings
£
11,956
(11,956)
-
11,752
204
(11,956)
-
-
204
2023
£
9,764
489
10,253
2023
£
756
3,893
4,649		 Total
£
106,587
(11,956)
94,631
62,657
2,570
(11,956)
53,271
41,360
43,930
2022
£
2,690
416
3,106
2022
£
675
3,611
4,286

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

15 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Resources Transfers At 31
2023 resources expended December
2023
£ £ £ £ £
103,212 5,502 (25,637) 22,350 105,427
Previous year: At 1 January Incoming Resources Transfers At 31
2022 resources expended December
2022
£ £ £ £ £
117,916 1,601 (16,056) (249) 103,212

16 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources Transfers At 31
2023 resources expended December
2023
£ £ £ £ £
General funds 165,048 153,254 (161,714) (22,350) 134,238
Previous year: At 1 January Incoming Resources Transfers At 31
2022 resources expended December
2022
£ £ £ £ £
General funds 147,767 145,586 (128,554) 249 165,048

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

17 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 31 December 2023:
Tangible assets
41,360
-
Current assets/(liabilities)
92,878
105,427
134,238
105,427
Unrestricted
Restricted
funds
funds
2022
2022
£
£
At 31 December 2022:
Tangible assets
43,930
-
Current assets/(liabilities)
121,118
103,212
165,048
103,212		 Total
2023
£
41,360
198,305
239,665
Total
2022
£
43,930
224,330
268,260

18 Unrestricted Funds

Balance at
Attributable Balance at
01.01.2023 Income
Expenditure
Transfers
31.12.2023
£ £
£
£
£
Capital Funds:
Property 43,726
(2,366)
41,360
Fixtures & Fittings 204
(204)
-
Designated and
general funds 121,118 153,256 (159,146)
(22,350) 91,027
165,048
153,256 (161,716)
(22,350)
134,238		 Balance at
Attributable Balance at
01.01.2023 Income
Expenditure
Transfers
31.12.2023
£ £
£
£
£
Capital Funds:
Property 43,726
(2,366)
41,360
Fixtures & Fittings 204
(204)
-
Designated and
general funds 121,118 153,256 (159,146)
(22,350) 91,027
165,048
153,256 (161,716)
(22,350)
134,238		 Balance at
Attributable Balance at
01.01.2023 Income
Expenditure
Transfers
31.12.2023
£ £
£
£
£
Capital Funds:
Property 43,726
(2,366)
41,360
Fixtures & Fittings 204
(204)
-
Designated and
general funds 121,118 153,256 (159,146)
(22,350) 91,027
165,048
153,256 (161,716)
(22,350)
134,238		 Balance at
Attributable Balance at
01.01.2023 Income
Expenditure
Transfers
31.12.2023
£ £
£
£
£
Capital Funds:
Property 43,726
(2,366)
41,360
Fixtures & Fittings 204
(204)
-
Designated and
general funds 121,118 153,256 (159,146)
(22,350) 91,027
165,048
153,256 (161,716)
(22,350)
134,238		 Balance at
Attributable Balance at
01.01.2023 Income
Expenditure
Transfers
31.12.2023
£ £
£
£
£
Capital Funds:
Property 43,726
(2,366)
41,360
Fixtures & Fittings 204
(204)
-
Designated and
general funds 121,118 153,256 (159,146)
(22,350) 91,027
165,048
153,256 (161,716)
(22,350)
134,238

153
,256 (161

,716)
(22,350)

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 2023

19 Restricted funds

Each PCC holds funds 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 detailed 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'
 - - 19,455 98,082 117,537
Parish of Monkwearmouth 41,360 - 37,578
1,769 80,707
St. Andrew's
 - 3,454 23,349 2,917 29,720
St. Peter's
 - 3,279 5,763 2,659 11,701
41,360 6,733 86,145 105,427 239,665

20 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

21
Cash generated from operations
2023
£
(Deficit)/surpus for the year
(28,595)
Adjustments for:
Investment income recognised in statement of financial activities
(1,113)
Depreciation and impairment of tangible fixed assets
2,570
Movements in working capital:
(Increase) in debtors
(7,147)
Increase/(decrease) in creditors
363
Cash (absorbed by)/generated from operations
(33,922)		 2022
£
2,577
(220)
2,612
(335)
(577)
4,057

PARISH OF MONKWEARMOUTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2023

22 Analysis of changes in net funds

The Charity had no material debt during the year.