2021-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITh ST CUTHBERT, YORK (registered charity no. 1130866) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

CONTEKrs Page(s) Annual Report of th8 Parochial Church Council 1-12 Independent Auditors. ReFK)rt 13-15 Statement of Financial Actiirytses 16 Balance Sheet 17 Cash Flow Statement 18 Notes to the Flnanclal Statements 19-31

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY ￿TH ST CUTHBERT, YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 The Parochial Church Council {PCC) has pleasure in presenting its Report together with the Finan￿al Stalemen15 for the year ended 31 December 2021. The financial statements have teen prepar&1 in acc(Ydance ryth the Statement of Recommended Practice: Accounting and ReFrfXting by Charities weparing their financial statements in accordan￿ with the Finanual Reporting Standard applicable In the UK and Republic of Ireland {FRS 102) effecttve 1 January 2019. the Charities Act 2011, the Church Accountlng Regulations 2(K16 and UK Generally Accepted Practice as it applies from 1 January 2015. The PCG is a Public Benefft Entty. OBJECTIVES AND ACTIVMES St Michael le Belfrey Church Counctl (PCC) is responsible. ￿ryth the Wicar Imatthew Porter) for good governance of the Chur(. Over the last 12 monlhs the church - often known as Ihe Belfrey - has continued to sustain and develop its ministry and mission, aimirKJ to be serving God s transfonnation of the North through everything we do. atKI now with even greater purpose and darity as we have INed through Covt&19. 2021 saw the launch of our Five Year Roadmap. This surnmarises our plans and hopes for the coming few years from 2021-2026. It darf￿5 our five key aims - serving York, making disciples, nurturing disciples. developing leaders and planting churches. It was these fve aims that particularty informed our actiwties, our prayers and our preathlng during the year 2021. The Leadership Team and Churth Council believe that rf ￿￿ prayerfully do thes8 thlngs, viith the help of G(Kl. then the impad on our city and regi¢)n will be greaL Our major reordering arK5 repair projed. krmwm as Impact. is crucial to the fu￿11Merrt of the Belfrey's vision and mission. Encouraging prcMJress was made in 2021 on design and on consultation wth stakeholders. desptte the challenges of the pandemic. 2022 wll be a key year as we seek to obtain faculty and planning pe￿isS￿)n and assemble all the necessary resources to embark on the construction stage. When consideriThJ the obje(aives of the charity the trustees have referred to the guidan contained in the Charity Commission's general guidanc£ on public benefft. Thls report will highlight some of the pU￿￿C benefit of St Michael le Belfrey Church. ACHIEVEMENTS AND PERFORMANCE Church attendance St Micha8118 Belfrey has a simple gathering structure of [w￿regatiOnS and groups. t￿ring 2021 we had 4 weekly services (on Sundays, meeting in St Michael le Belfrey Church or online at 9am, 11 am and 6pm,. and on W￿nesdays. at 12.30pm when not in lockdown). In the early part of the year, in-person Sunday servbces were temporarily replaced with live-str8amed servi￿, due to national emergency regUlat￿n$. ThroughoLrt 2021 VR had approximately 40 midweek small groups, known as Belfrey Groups.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY ST CUTHBERT, YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 At the Annual Meeting 2021 Ihere were 445 people on the church electoral roll (plus a further 66 at G2, a churd) begun by us in 2004, still legally under our govemance). making the total 511. The average weekly atiendance during October 2021 ￿￿5 543 fr(congregations meeting In St Michael le Beffrey Church, and 314 for onlineltelephone linkups. making a weekly totsl of 857. (Please note this is based on data for Ihe monlh of Octobgr only.) Professlons offalth, baptlsm. and confimiation are importantto us a5 public marks offollovAng Jesus Christ. With many serwces held online in 2021 it was hard for us to gauge resrK)nses but nevertheless we know of at least 21 professN)ns of fatth. At times we were restricted in our ability to baptise but despite this ￿ (x)ndu(ed 9 re-affirmations of baptismal faith. and baptised 6 infants and 13 adults. Publ1¢ Benefft Revlew of the year Communty The dergy ar¥J staff team have continued to serrf8 rn)t just the pewe of the Belfrey l)ut also the wider community. With many struggling in 2021 due to the effects of the pandemic. it is Important that (xjr church does all it can to support vulnerable and disadvantaged people. With the consent of the an0n￿ouS donor(s} behind our Northem Church Hanting Fund. in 2021 we agreed, along third￿arty scxutiny. to re-allocate £1 m of funds from the fund, in order to establish a Love York Post-Pandemic Fund held by the PCC. This Fund will support mission and s￿[al action initiatNes which the church considers strategic as we serve York and seek to be serving G(Kl's transfomiation of the North. In August, Alison Daw50n vrds employed as our Social Action Prcgramme Manager to head this work. 5UPPOrted by thks new fund. Alison has begun work on the Swal Action Programme by researching the current needs and provision In York, In Ihree focus areas of Poverty, Mental Health. and Youth and Families, to identify gaps and opportunities. Ajongside this she has started to build a nets￿1k of links with churches. charities and organisation5 suth as City of York Council and York CVS, to see where we can align new social action work wth what is already going on in th8 city. We wer8 also eX￿ted to join the Love Your Neighbour campalgn, thanks to Tony Holmes, service as our volunteer Social Adton Coordinator. When not in lockdown, St m￿hael le Belfrey Church has been open daily most V￿eks, welcoming 24.000 visitors to come in and discover somethirKJ of our heritage and to hear stories of falth today. Our Y￿rth and chiklren's team provided groups and support fcy a wid8 range of young people and children inside and outside the church. We also served homeless and vulnerable members of our city through Lets Cook, teaching cookery skills and providing a weekly hot Tneal in the Bewrey Hall. Welcome lunches resumed at the vicarage in September, to welcome newcomers to the Belfrey. The senior staff are able to give up to 10% oftheir time to the Diocese of York or to assisting other churches and to the Newwine ne￿Ork of churches. We continued to invest in running Alpha courses, led by Vicky Earll. which provided space for those exrAoring faith to find answers to their questions. We continue to believe that helping people find faith in Jesus Christ is the greatest public benefft that we can provide. Buildings St Michael le Belfrey arKJ St Cuthbert's Church (our House crf Prayer) are significant buildings which we value very much and have continued to mainiain and upgrade under the guidance of our Facilities Manager. Rob Hill, to assist us in our mission and ministy and as part of our heritage. St Cuthberys in particular had a new ￿tchen installed in 2021. Plans for the

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY ￿TH ST CUTHBERT, YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 renovation and redev8lopment of St M]d￿e1 le Beffrey Church continued as we met with Ihe DNesan Adwsory Commttiee (DAC) and her11￿e groups to progress our plans. The church also owns the Belfrey Hall. and houses at 13 Hempland Drive arml 28 Langdale Avenue. It nted Ihe Parish Centre (11112 Minster Yard) from York Minster as church offices. It rented various buildings to hous8 intems. St Michael le Belfrey Church, St Cuthberfs Church and the Belfrey Hall were. outside of lockdown. used most days, not just for worship and prayer. but also for meetings. concerts. theatre productions arKI as a home to the Yorkshlre Bach Cholr. We provided office space in the Parish Centre for G2 and Fusion, and other churches use our photocopler to produce their newsletters. Money Sl Michad le Belfrey is a not-profit4naking. charitable organisation and V￿ see all financial provision as money for mission and ministy. Our income was £903,056 of which £174,533 was restricted. Not only wa5 Ihis mney used to pay our staff and to fund various aspects of church lrfe, but much vrds given away. espeually to vamus bng-tem Mission Partners in York, the UK and abroad. We support the Iixal Diocese. ￿ntributing £182,636 in 2021 which, after supporting our full-time stipendiary dergy posts, supports the DI0￿Se of York in its wider mission in other churches, schools. and a breadth of communities, rural and urban. PeO￿e People are the key resource of the churth. be(wse thurch is first and f(Kemost wple. The PCC would like to thank all the paid arKI voluntary staff who have contributed so much over the year. In 2021 we said goodbye to Beth Burbidge. Jad( Chipperfield, Dave Kelsall, Luke Porter and Emma Perkins, the kqtter leaving to prepare for the church planvrevitalisation in early 2022 at Holy Trinity Heworth. We welcomed 6 new M￿be[S of staff - Wayne Cadman, ison Dawson, Issy Ftynn. Jarnes Hayden, Becca Hewitt and Charle5 Walters. Abbie Bright. Tony Holrnes, Alex Male and Rebe￿8 Smith and Hannah Betteridge joined our staff team as slgnfficant volunteers. Also. G2 said gocmjbye to Adam Mitchell-Baker, Lydia Brehm. Ben Paul and Christian Selvaratnarn and wekxmed Toby Spaxman. and Hannah Smith into her new role leading G2. ImpaGI St Mlchael le Belfrey church is investing in a 1£9m repair and re(￿dering project called Impact vthich will ￿ the first majcrf development in over 150 years. The vision for creating a welcoming, accessible and flexible space Nthin this beauliful and h￿torical Church building remains as relevant now. having INed through the Covid-19 glo￿ pandemic, as it was Iwo years ago. The Belfrey contlnues to share the Christian faith, seNe Its community and welcome visitors both as a physi(a presence and hawng seen sYJnificant growth in ils online presence through crealive use of live streaming and social media. The reordered church building will supwrt the Belfreys five aims of Serving York. Making DisciFAes, Nurturing Disciples, Developing Leaders and Planting Churthes. This year has seen a dear shift in support as the Impact board ￿ntinUed to consult with key Stakeholders understand better the Belfrey's Justifi￿tion for the Project. The relallonship with the sutrpcommittee of the DAC has developed as a 'critical friend. to the Parish and the Project. A letter from the Church Buildings Counul in Juty 2021 recognised the significant design progress made and was able to make the link that vknere proposals might result in Soss of historic fabric, it was "necessary for the parish to have a scheme that vlll deliver its needs".

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY ￿TH ST CUTHBERT, YORK ANNUAL REpoKf AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 Historic England's latest advi￿ letter received in D8cemb8r recognised the efforts the Belfrey has made lo engage stakeholders and ￿at the current proposals are a much stronger response to the building than the original proposition." In October an Infonnatton update and Partners evening was hekl. inmting city stakeholders including the Lord Mayor. counallors. indiwduals and businesses in the cty to share our plans, generate interest and bulld relatlonshlps. This will be important as we submit our planning applicatK)n in 2022 when we can expect significant interest in our submission. Signfficant design devebpments induded: Careful design development an accessible west end wth tsyo new subservient openings to the main d￿r and accessible landscaping to complement the exlernal appearance of the buildlng and sensitmty of setting Construction of a beauttful contemporary designed acc8ssibl8 gallery with a lift using glass and malerials to render it unobtrusive Creating an attr&aive accessible link to 12 Minster Yard via the current vesty to prowde qualty meeting rooms, more knlets and refreshment faalities A centrally located baplism pod ￿ the potential for a hydraulic floor Tnaking Ti accessible for people mobli ity impairments and modular st4ing ￿lch can be used for a varty of confKJurations then stored to Ihe sKles vthen not in use Careful thought has been glven to developtng an Operating M(MJel for the Belfrey that wll use the Reordered building to optimum capacty. This complements the Five Year Road Map (2021-2026). arKI translates into St Michad le Belfrey being the heart of a wide variety of worship, ministries, actimties and srKial action happening in the ¢ity ￿ntre. Examples of elements of this Operating ￿￿e1 are: frequent e(￿MeniCal Apha Courses being hosted in the building for those ewloring Christianity, our baptism pool being used multiple times a month by both the Belfrey congregations and Msiting local churches,. and the Belfrey blessing the city of York and the V4der region with a flexible, beautiful and accessible venue wth a capacity of 550. Consuttation through 1ntsrWe￿. f(￿￿ groups and a survey tocth ￿ace wth church memb8rs and external contacts to develop a C￿nprehenSrVe picture on accessibility needs. This included those with, or representing people wth, physical conditsons, intellectual disabilities and learning ￿￿￿ltieS as V￿11 as physical disability to erwre the designs being devèlopèd are the best they can ￿ to offer Access for All. In the autumn 2021. a sub gr￿p of the Impact Board and the Design team Carried out a detailed Value Engineering exercise to contain the costs bMthin the Prqect Budget. The Belfrey Community were consumed in November and much of the Developed Design supported by the Parish, notvAthslanding rewsions to complete on the 12 Minster Yard link. 2021 has been a crttir21 year in design development alongside a￿rtaInIng the position of key stakeholders so V•E can submit the best planning and faCu￿Y applications in 2022. In 2022 we will also be working to ensure that we have all of the ne￿$sary financlal and other resour to initiate the construction stsge. Church Planting St Michael le Belfrey is a ￿ourCe church, seeking to gNe time, energy and people to our Diocese and region in a variety of ways, espeaally through church planting, as part of the

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY ￿TH ST CUTHBERT, YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 Diocese of York's Muthply strategy. We were fvsed in 2021 to make plans to send Mike and Emma Perknns and Ot￿r$ to revitalise the parish of Hoty Trinity in Heworth from January 2022. supported by our Northem Church Planting Fund vthich vras established in 2020 to help support dwrch planting and remtalisation across the North. During 2021 the Belfrey continued to provide support to G2 in their mission and ministy. G2 have a Bishop's Mis￿on Order (BMO) enabling them to explore innovalive mission in York. sin￿ 2006 they have been abty led by Rev Christian se￿aratnarn. In summer 2021 G2 said go¢)Jbye to Christian as he became full4tme Director of Church Planting at St Hild College. In August 2021 G2 were delighted to appoint Hannah Smith as temporary Leader of the G2 BMO. Hannah wa5 later appointed and commissioned in October by Bishop John (Bishop of Selby) as the pem)anent G2 Team Leader. PLANS FOR THE FUTURE In order to further our vision in the year ahead, we launched our FNe Year Roadmap. The map turns our previous strategic emphases into ￿rns, to vthich a new first aim is added - of Serwng Yoth. The FNe Year Roadmap began to be communic2ted inside and outslde of church in a variety of vRys, and infom1￿1 our p￿athing for much of the year. It particularly highlights five 'stretch goals.. summarising key actions: every one loves one every one brings one every one disciples c￿e every leader trains one every church plants one st Michael le Belfrey conlinues to plan for growth, not for dedine. We believe we have a slrategic and Godfiven wsion and humbty, prayerfully and confidently seek for it to b8 furthered in 2021 and beyond. We plan to send out a team every two years to plant either sornethirwJ brand new or to revitalise an old church. We are pleased to be part of the Diocese's strategic planning forthe coming years as together we seth to grow and to particularly impact the 20s40s age group. We wll a150 continue developing our Strateg￿ plans for rewordering St Michael le Belfrey Church. As we do so. wll seek to become an Ir￿easinglY sustainable church. in line with the Climate and Environmentsl Emergency Declaration which our PCC signed off in autumn 2021. As part of this Dedaralion. we have committed to bring forward by April 2022 an action rAan to minimise the Beltre￿S negattve corporate impact on the environment and climate and to help restoration where KK)ssible. All this will be demanding and exciting as we look to the future. LEADERSHIP Our church, St Michael le Belfrey, is led by the VIc2r vthh the assistance of a Leadership Team (the 'Vicaffs Leadership Team.) vthith meets weekly and is govemed by the PCC. Our churth is managed by a team of dedicated staff and volunteers. for whom we are grateful. The only committee required by law is the Standing Committee. This is made up of the Vicar, Associate Minister. Church Wardens, Secretary and Treasurer, and up to two elected PCC members. It ha5 power to transact the business of the PCC between its meetings, subject lo any directions given by the Counal. Towards the end of 2021, the PCC agreed to move to different structure of meeting. with the full PCC meeting bTrvmonthly and the Standing

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT. YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 Committee meeting in the intervening months, along wth the various sub-groups. The full PCC meetings tend to discJJss bigger picture matter5. agree legal matters including ihe annual budget and receive a regular Safeguarding ReporL whilst the Standing Committee deals with matt8rs of mor8 detail. Th8 frst standing C(mmittee meeting as per this structure took place in October. CHARITY GOVERNANCE CODE: As a charltable bcKly, we fulfil the 7 prfnaples set out in the Charity Governance Ccrfje as follo￿%.. 1. Organisational Purpose: We exist for worship and mission in the parish of St Michael le Belfrey, York. Our vision is to be serving G￿1.$ transfomation of the North and for this we work and pray. To fijlfil this vision our strategic emphases in 2021 ￿re.. semng York, makirKJ disciples. nurturing disciples. developing leaders and planling churche& 2. Leadership: The church is led by the Vicar wth the assistance of a Leadership Team and is governed by the PCC. The Vicar has freehold of the church. Both the vicar and Associate Minister are of incumbent status. Responsibilty for much day-trpday church lrfe ts delegated to our staff and volunteers. We highly value the ministy of the whole church. much V￿rk being done by voluntsers, induding small group leaders. helpers and way-ers in all sorts of areas of church lrfe. 3. Integrity. We are follow8rs of Jesus byho s88k to live urKlerthe aulhority of Scriplure in the power of the Hoty Spirit. while recognising our iMperf￿li0nS and weaknesses and our need of God's grace. We take safeguardirrfJ seriously, being ably led by our Parish Safeguarding Officer Barrie Stephenson, with over 200 members of ¢Jur church famity receiving safeguarding Iraining in 2021. We seek to INe wtth integnty, telling the truth and abiding by the law of the land. At PCC meetings we name confiicts of interesL We seek to honour each other, speak well of each other and gwe each other the benefrt of the doubL We particularly value generosity. festivty, simplioty. and humility. Our supporting values indude kindness. creativity. dNersity and integrity. 4. Decision-making. Risk and Controt: We have a number of key goals for the year whith ar8 regularly n￿nitOr8d. We review terms of reference. poli(xes and our risk register. Our PCC membership ￿ refreshed annually. Our accounts are professionally audited. Our finan￿￿ statements. annual reports and various publications are shared with the Diocese of York. of which we are parL All stsff and volunteers are lintrman*Jed. 5. Board Effectrveness: The Vicarfs Leadership Team meets most ￿ekS and our PCC or Standing Committee meet monthly. The Wicar and Associate Minister meet wtth the Wardens every other month. We take advice from experts outside our church. especially in specialist HR or finance matters. We belleve the PCC has a good mix of skilb, experience, common sense and prayerfulness. New PCC members are each year given trustee induction and all undergo basic online safeguarding training. In 2021 the PCC devoted Ihe first part offour meetings to going through a training course entitled PCC Tonight. which helpèd members understand the Council's role

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY MTH ST CUTHBERT. YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 and bjnctron. It was in response to this cours8 and rethinking the effectiveness of our governance structures that the meeting schedule of the PCC and Standing Committee was revised and more sut¥Jroups b&Jun and empowered. 6. Diversily. God's Kingdom is made up of all manner of people but, historically, our church has not fully refiected this diversty in its membership. staffing and leadership, partly because of th8 backgrouThJ and makeup of York residents. We have continued to seek to make progress towards greatsr diVerstyV￿thin the kadership and membership ofthis churth. We are pleased that diversity is now one of our church values agreed by the PCC in 2021. and Ihis is being mmunicated through our preathing. 7. Opennèss & Accountabilty. Our key stakehoEders are our church family. Those vkno belorKJ to the BeEfrey nonnally show this by jt)ining our electoral roll, W￿hIPpIrVj regularly at one of our services, joining a small group and giwng regularly. Most choose to receive a weekly email which includes a Friday Message from the Vicar. as well as ne￿ items, a calendar of services and Belfrey events, links to useful resources for church members, and the latest PCC Minutes. As well as verbal notices in our servtces our church provides regular infomiation on various social media platform5, including Facebcok. Instagram and Twitter, and there is a Belfrey Noticeboard group on Facetojk. We listen to feedback, and take seriously all suggestions on how to improve our church lrfe, dI￿sSIng this at VLT and vthen necessary at PCC. Our 5 Year Roadmap. launched this year, incorporated feedback gathered in a larg&scale Church Survey carried out in 2020. We also encourage questions to be asked throughout the year, with written questions being invited on our annual report and time given for a few verbal questions at our Annual Meeting. We are GDPR (data protecttonl o)mpliant and keep dear. accurate and up- t￿date membership re￿rdS using the safe aTrJ secure Churthsuite thirch rnanagement system. FINANCIAL REVIEW 2021 saw an increase in planned giving for both the Belfrey and G2 by nearfy £20.000 and £10,500 respectively. Excluding G2, planned giwng was £454,925 272 people giving this way, which represents 61 % of the elecioral role. We plan to hold a renewal of giving in 2022 and hope that this goes up to 70%! Even WIth￿t belng able to pass the'plate. around durlng services as we were able to for part of 2020. our total unrestricied donations V￿re £76,619 higher in 2021. We also re￿Ived a legacy of £23,474 *thich is restricted for'Hoty Communion.. Total income for 2021 at £903,056 looks low compared to 2020's £9.247,848 but remember that in 2020 we recognised the ty￿ restricted bwJ gifts for Impact and Church Planting in full, even though we haven't received all of the money yet It is being managed by a third paty and we draw it down as we need tt. Total income for 2020 minus the £8.450,000 restricted big gifts was £797,848. This means that total Income was £105.208 more in 2021 excluding those grft5. In April 2021 we announced the creation of the Post Pandemic fund which was established by taking £1,￿0,000 from the Church Planling fund donation. You can see this trdnsfer in Note 18 of the accounts.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT. YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 We had expected to need to use £133,000 made up from previous years. gttts to fund all we wanted to do in 2021. However. we only needed to use £33,000 - this VRS due to a combination of income being more than expected and spending less during the lockdown in the first quarter. This means there is £100.0(Kl vthich will be carried f￿vard to use in 2022. G2's (whlch operates as a restrlcted lund of the Belfrey) income was also higher than expected as they received a few on￿r gtfts as well as doing another 90 day gmng thallenge which brought in nearty £4.000. Their expenditure was slightty under budget which meant they had surplus of neady £12,000. Th8 Impad project expendthr8 for 2021 can be broken down as follows: Design Team (LDN architecL engineers & Cost C￿su11ants) St LawTence Organ Humidifier Surveys & Specialist Adw Project Management team (salaries) Other costs (bank charges, zoom, etc.) TV Monitors to be used in de(ant Total £153,294 £10,000 £23,982 £60,317 £3,003 £3.588 £254,184 In October 2021 we had the buildings we thyn revalued by SteptrEnson's Estate Agents. This hadn't been done ￿nce December 2016. The value of all three properties {Hempland Dr. Langdale Ave. and Belfrey Hall) increased by a total of £155,(KIO. This can be seen on Ihe SOFA and detailed in note 11. Our totsl funds at the end of 2021 vRre £10,443,898. of thts £9.210.314 were restricted funds which can only be spenl as the donor(s) requesled. The majority of this is the Impact Fund. Church Planting Fund, and Post Pandemic FuTrJ. £1.233.584 is unrestricted funds for the general running of the thurch. Hov+ever. £954,190 of it is tied up in buildings and equipment we own. This leaves £279,394 in cash whith is made up of reserves and amounts to be spent in 2022 (see Reserves section below) We have tsyo members in our tr8asur8r team, but are still Ii)oking for a third member. We are thankful for the wardens tho are responsible for the finance5 untsl this 15 fully established. Thank you also to Gill Mclntosh and Val Patrick our finance volunteers and Melissa Bryan our finance manager. who have V￿rked hard this year behind the scenes. INVESTMENT POLICY The PCC has taken extemal financial advice on the investment of funds restricted for expenditure on the Impact Project. taking account also of tis reserves and funds held for other projects. In Mew of the likety ts'mescale for expendlture of the bulk crf these funds and uncertainty over market conditions in the meantime. the PCC has accepted advice that itwould be appropriate to avoid significant risk and keep ts funds in cash deposits. The PCC will authorise the opening of additional bank deposit accounts as necessary. seeking to maximise the rate of interest consistent the secunty ￿ the furKls and the required availability for Impact and other expenditure. RISK MANAGEMENT The PCC acknowledges its responsibli ty to identify. assess and rnanage the major risks to which it is exposed.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT, YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 Major risks arise from a variety of as￿ of the thurch's InterrAI operations and 8Xtemal environment, including security. health and safety, and finance. The PCC delegates the management of risk to the operat￿nS Manager. the Treasurer. arKI a designated Churchwarden. Through this group the PCC mainlains a register of major risks. and continues to enhanc£ plans to ensure that systems and processes are in place to mitiqate exposure io these risks. The risk register is held and kept up to date by the Operations Manager. The PCC reviews the risk register on at least an annual basi5, usually every March. The Impact Project, to restore and re(￿der St Mithael be Belfrey, holds tts ovm separale risk register which is managed by the lrnpaot Board together wth the PCC. RESERVES POLICY Our policy is to keep a cash reserve equating to three nv)nths' essential running costs. At the moment that is around £71,OCKI. This allows us to provide for unforeseen short4eTm expenditure (on such items as building repairs) or shorlfalls in income: and to respond promptly to future opportunities in supwrt of the (thurch's mission. Our totsl unrestricted net current assets at 31 Dec£fflber 2021 anounted to £279.394, and after allocating £121.170 to be spent in 2022 and £80.776 on pastoral work over the next 36 months the cash reserves are £77,448. The PCC review this figure regularly so that any reserves held above the £71.000 in our policy can be used for projects as needed. The PCC holds property and eqUipM￿t valued at £954.190 induded in Ihe unrestricted reserves which could be converted into cash rf needed. STRUCTURE. GOVERNANCE AND MANAGEMEKr The Parish of St Michael le Bewrey, York is a parish within the Church of England as defined by canon law. Individual parishes wthin the Church of England do not have a separate constitution. They work within the framework of Church of England ecdesiastical law. consisling of the Parcchial ChurL Council Powers Measure (1956) and the Church Representstion Rules. CharitatAe status vras received on 30 July 2009. Members of the PCC are either ex offi￿ or elect￿ by the Annual Parochial Church Meeting (APCM) in accordance with the Church Representalion Rules. The PCC has delegated some decasion-makir¥J pthY6rs to the following suwroups: the Human Resources (HR) Group HR matters, the Impac Project Board for the reordering of St Michael le Belfrey Church, the World Mission Team for overseeing mission partners. the Social Action Programme Board (SAPB) social action and the im￿ementation of the Love York Post Pandemic Fund, the North8m Church Planting Group for govemance of the Northern Chur(* Planting Fund, and G2 Coun¢il for govemance of G2. Temis of reference for Ihe HR Group were last updated in 2018, for the Impact Prqect Board in 2020, for the World Mission Team in 2021, for the NCPG in 2021, kn the SAPB in 2021. and for G2 Council in 2021. All major govemance rnatteT5 are de(ided by ts Wicar and PCC tcoeth8r.

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY MTH ST CUTHBERT, YORK ANNUAL REPOFrr AND FINANCIAL STATEMEKrs YEAR ENDED 31 DECEMBER 2021 ADMINISTRATIVE INFORMATION Parish Name: st Michael le Belfrey Church Address: St Michael le Belfrey, H*Jh Petergate, York, Y017EN Office Address.. The Parish Centre. 11112 Minster Yard. York Y017HH Charity Name (working name): SL Mithfftl Le Belfrey PCC Registered Number: 1130866 Principal Addrèss: The Parish Centre. 11112 Minster Yard. York. Y017HH Indep8nd8nt aLKJitors: Waltons Business Advisers Limited, Marttime House, Harbour Walk, The Marina, HartlepcM)I, TS24 OUX Financial Institutions= Roydl Bank of Scotland, 27 Parf( Row, Leeds LS15QB Nationwide BuildirwJ Society. lfjngs Park Road. Moulton Park, Northamp￿, NN3 6NW Yorkshire Bankwirgin Money, Berfing House, Mariner rt, Ctydbank. G812NR Cambridge & Counties. charnw￿d Court. 5B New Walk. Leicester. LE16TE CCLA, Senator H¢)use, 85 Queen Victoria Str88t, London. EC4V 4ET io

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT, YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 PCC Trustees l Members The members of the PCC who Ser￿ during the year were as follovts: Clergy Matthew Porter Andy Baker Earfl Michael Perkins Christian Selvaratnam (until May 2021) Jim Roberts Churchwardens Daniel Brookes Aison Dawson {unts1 August 2021) Christopher Dcl)son Remi Oduyemi Deanery Synod Daniel Brookes James Hayden (from Juty 2021) John Lindley Tony Scott Martine Somefville Elected representatlves Dani Cook i Hale Jenny Hough (untsl April 2021) Ross Kenyon Joe TrkK80gh Andrew Oldroyd (from April 2021) Atys Tarr (until December 2021) Officers Secretty. Martine Somerville Treasurer.. Church Wardens Electoral Roll Officer. Izzy Pysanc

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY ￿[H ST CUTHBERT, YORK ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2021 STATEMENT OF RESPONSIBIUTES OF THE PAROCHIAL CHURCH COUNCIL Law applicable to charities in England and Wales and guidan(￿ issued by the Central Board of Finan￿ of Ihe Church of England require the members of the Parochial Church Council to prepare financiai statewEnts which gNe a true fair view of the Parochial Church Council's financlal actfvities during the year. In preparing financial statements gmng a true and fair vièw. the members of the ParochE Church Council should fdlow best practi￿ and: • select suitable a¢c¥)unling ￿l￿￿e$ and appty them consistentty; make judgements and estimates that are reasonab￿ and prudent: slate whether the Chur(*) guklance, appIl￿ble ￿oUntIng standards and ststements of recommended practice have been followed. subject to any material departures disdosed and explained in the financial statements" prepare the financial siatements on the goirwJ con￿rn basis unless it is inappropriate to presume that the pa￿￿hla1 Church Council will continue in operation. The members of the Parochial Church Council are responsible for keeping proper accounting records vthich disclose with ￿asonable accuracy at any time the financial position of the Parochial Church Council and enable them to ensure thatthe financial statements ￿mplY wth the Church Accounting Regulations 2006 and the Chartltes Act 2011. They are also responsible for safeguarding the a&sets of the Parochial Church Council and hence for taking reasonable steps for the preverrt￿n and detection of fraud and other i￿egUlar1tie$. PROVISION OF INFORMATION TO AUDITORS In so far as the PCC rr￿terS are avRre: There is no rdevant infomation of which the PCC'S auditors are unaware,. and The PCC member5 have laken all Steps that they ought to have tsken to make themselves awdre of any relevant audit infomation and to establish that the auditors are aware of that infcKmatk)n. AUDITORS As a resutt of a change in auditorfs name. from 1 March 2022 Wa￿On$ Clark Whttehill Limited became Wdtons Business Advis¢)rs Limited. Approved by the Parochial Church Counal and signed on its behalf by: Revd Matthew Porter Chair 2110312022 12

INDEPENDENT AUDITORS’ REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT, YORK

Unqualified opinion

We have audited the financial statements of The Parochial Church Council of the Ecclesiastical Parish of St Michael Le Belfrey with St Cuthbert, York for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

This report is made solely to the Parochial Church Council (the PCC) as the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the PCC those matters we are required to state to them in an auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the PCC as a body, for our audit work, for this report, or for the opinions we have formed.

In our opinion the financial statements:

• give a true and fair view of the state of the charity’s affairs as at 31 December 2021 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011 and the Church Accounting Regulations 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustee's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

13

INDEPENDENT AUDITORS’ REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT, YORK

Other information

The PCC are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditors’ report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the PCCs’ report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit

Responsibilities of the Parochial Church Council

As explained more fully in the statement of responsibilities of the Parochial Church Council set out on page 11, the PCC are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the PCC determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the PCC are responsible for assessing the ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the PCC either intend to liquidate or to cease operations, or have no realistic alternative but to do so.

14

INDEPENDENT AUDITORS’ REPORT TO THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT, YORK

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the charity and the area in which it operates, and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We identified the greatest potential for fraud in the following areas: existence and timing of recognition of income and the posting of unusual journals. We discussed these risks with management and designed audit procedures as follows:

• to test the timing and existence of revenue,

• to review journals posted to key control accounts or posted around the year end, to look for potential “window dressing” as well as looking at a sample throughout the year.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Waltons Business Advisers Limited

Chartered Accountants Statutory Auditors Maritime House Harbour Walk The Marina Hartlepool TS24 0UX

05/04/2022

Waltons Business Advisers Limited is eligible to act as auditors in terms of section 1212 of the Companies Act 2006

15

THE PAROCHIAL CHURCH COUNCIL OF THE ECcLESIASTI￿L PARISH OF ST IIICHAEL LE 8ELFREY WITH ST cifTHBERT. YORK FOR THE YEAR ENDED 31 DECEMBER2021 Total Fund5 2021 202 Funds Funds Incom• and endowmwts from: Donatr)rts and legaoe5 Incorne trom tharitsbkn •¥60e6 other tradirg activits Investments other irwne fjS),573 55.049 10.&32 1.719 10.850 183.801 1,482 142 6,032 3.076 814,374 56.531 10.474 7.751 13.926 9,136,653 61,350 8.198 12,007 29,640 Totsl Incorn 728.523 174,533 903,056 9,247,848 Exp¢ndltstre oft: Raising funds ChW1tab￿ th1￿ch athwlles 277 761.468 550 1.225,146 3>2.247 1,153.715 Total wgndl¢ur• 761,745 392.n4 1.154479 1,225.695 M¢t Incornollexpondltur} b•for galns and losse5 (33.222) 155.(IXI (2182011 1251.4231 155.C 8.022.153 Net gains r8valualkni oltfjxed a$sts 11 Not Incomdl•xp￿d1tyr•) 121.TT8 12182011 11.9651 196.4231 8,022.153 N•t mo¥¢rngrt In Funds 123,743 1220.1681 196.4231 ,021153 Total lunds broughtlww•ryl •t 1 January 2021 1.1(P3,841 9.4￿.480 10,540.321 2.518.169 Tatsl funds carTlod fr>r¥Rrd at 31 D¢¢¢mb¢r X21 17118 £1333.564 £ 9.210.314 £ 10.443.898 £10,$40.321 The not•5 OA 1• to 31 fomi pwt 011h￿ financlal 5temont& Th• 51alorftht of Ffjnand￿ ALkn IKlud85 811 gakns ar¥J ￿￿585 in the awwj al of thè amouDts rdatè tc+ fxjnllnulw a(kntss. 16

THE PAROCHLAL CHURCH COUNCIL OF THE ECCLESiASTICIL PARISH OF ST MICFIAEL LE BELFREY ￿ThI ST CUTHBERT, YORK 8ALANCE SHEEr FOR THE YEAR ENfJED 31 OECEIIBER 2021 Total Funds 2020 Funds Fund8 20 Flx•d A88•ts Tangible fiY￿ a$8¢ts 11 954.1 954.1 805.028 .1 954.19) 805,028 yrr•ntAs80ts St￿k 12 13 14 533 7217.426 2.351.442 638 7,666,352 1107,558 21.049 7.1%.37T 304.459 2.046,983 Cash atlMnkaTrl In hand Totat Curr•ntA658ts 326.041 9243.360 9,569.401 9,714,548 ¢urr•nt LlablMtE•8 Credittys.. aftwnts ts due wtfin ￿ y8 1S 46ffi47 39.255 Totsl ¢urYenillablHtI•s 46.647 79.693 39255 N•t CurwpntAss•ts 279.YJ4 9210.314 9.489.708 9.735293 Tolal a¥s•ts185s ¢urr•nt 1ZJ3.584 9210J14 10,443.898 10540.321 NotA¥sets £ 1233.584 £ 9210.314 £ 10M43098 £10.54Q,321 Th• ￿ndS ottho charxy Unresth'cted gen￿￿ fiJ¥J Unreslrided re¥￿ual￿Jn res8Ne fur Restrid￿ fiJnd5 17 17 18 953,841 156.000 9.430,480 311.COJ 311.[ 9210.314 9210,314 Total Chlty FuThls 1233¥4 £ 9210314 £ 10,441898 £10AM.321 Approved by Ihe Pa￿￿hlEt Chur( on 21mr2tr22 8TrJ b￿l￿ty. The not¢$ •n page8 19tr• 31 form part of th•x fin•n¢lal stat¢mant& 17

THE PAROCHIAL CTrKIRCH COUNCIL OF The ECCLESIASTICAL PARISH OF ST PAICHAEL LE BELFREY %1TfH ST cufHBERT. YORK CASH FLOW STATEMEI FOR THEYEAR ENDED 31 DECEMBER 2021 2021 2020 Cash flows frnm op•rallng a¢tS¥ltl•s: Not In¢orn• forthg r•portln9 pwSod Adlustedfor. Depreoation charges Dividends and inler85tfrarn investments Revaluation offfix8d a558ts Dec￿ase in stctks Dec￿aSe111nCreas6) in debtcws IncreaselldecTeasel in credlkrfs 196A231 4022.153 5.837 112.0071 17.7511 {155.C#)O) 105 (7.638.758) {36,1811 Nel Cash provkled by operallng acllv 236.133 341,155 DNidends and interostfrun investmen18 7.751 12.007 N•t cash prov1d￿ by In¥•tlng •etlvlU 7.751 11007 Chango In ￿$h and cash •qulvalents In the reportlng perlod Cash and cash •qulvalonts at th• beginning of the r•porting period 353.161 2.107.558 1.7S4.397 Cash and cash equivalents at the end of the reportlng perlod £ 1351.442 £ 11117.558 Analysls ol cash and Cash •qulvalw Cash in hand No and nr￿c• (tKJsits lkns IPkqn 3 ￿￿th6) Noticè dèposits Inbjrt Ihan 3 months) 383 479.376 1.627.799 1.072,450 1278,608 £ 2,351,442 £ 1107,558 a￿ty law r6quwes s&pardt¥ *jtrlni&tr8tK￿ cf ts tashAM of rÉ¥trLW fvrKl$ tsf Chariiy. Tli¥ 18

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT, YORK NOTES TO THE FINANCIAL STATEMEpifs FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES Basls of preparation The financial statements have been PrePar￿j in accordan￿ with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their ac£ounts in accordance vrith the Finanual Rewting Standard appI￿able in the UK and Republ￿ of Ireland IFRS 102> effective 1 January 2019, the Charities Act 2011. and the Church Accountng Regulations 2006. The financial statements indude all transaCtK￿$. assets and liabilities for which the Parochial Church Counal {Ihe PCC.) is re$F￿￿SIble in law. They do not include the financial slatemenls of church groups that owe their main affiliation to another bcKly. nor those that are informal gatherings of church members. The PCC is a public benefit entity as defined by FRS 102. Statutory Inforniation The PCC is regist8red with the Charity Commlsslon, registration number 1130866. The registered address is The Parish Centre, 11112 Minster Yard, York, Y017HH. Funds Unrestricted funds representthe generd funds of the PCC that are rn)I subject to any restrictions r8gardirvJ their use and are available ts application for the ordinary purposes of the PCC. Designated funds represent those unrestricted general funds wthich have been set aside by the PCC for a particular pursx)se. Restrictsd funds represent (a) income from trusts or endowments which may be expended only on those restricted objects prowded in the tems of the trust or bequest, and (b) donations or grants received for a spe¢ific object or Invited by the PCC for a specific object. The funds may only be expended on the specific objed for which they were given. Any balance remaining unspent at the end of each year rnust be carried forward as a balance on that fund. A large proportion of restricted funds are held in separat8 bank accounts and interest arising is allocated to restricted funds. The remaining interest largèly represents monies aCcrl￿d from unrestricted funds. Income recognitton All income Is rec￿3n1Sed On￿ the PCC has enlitlement to the income, there is sufficient certainty of receipt and so it is probable that the incotne wll be received. and the amunt of income receivable can be measured reliably. Hanned giving. collections and donation5 are re(x)gnised when received. Tax refunds are rec(yJnised when the incoming resource to which they relate is received. Grants and *ao8s are accounted for when the PCC is entitled to the use of the resources, their uttimate receipt is considered reasonabty certain and the amounts due are readily quanttfiable. Dmdends are accounted for when dedared re￿1Vable. interest as and when accrued by the payer. All other ir￿rne is recognised then it Is receivable. Amounts received specifically f(x mission are dealt wtth as restricted fvnds. Al incoming resources are accounted for gross. 19

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY wmi ST CUTHBERT, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1. ACCOUNTING POLICIES (¢onlinued) Govgmmenl grants Grants are accounted under the acuuals model as permttted by FRS 102. Grants of a revenue nature are rectsJnised in the statement of finanaal acttvibes in the same Feriod as the ￿lated expenditure. Expenditurn rncognftlon Liabililies are recognised as expenditure as scon as there ts a legal or constructive obligation mmitting the PCC to that expenditure. it is probable that settlernent wll be required and the amount of obligation can be measured reliabty- Grants and donations are accounted fcf vthen paKI over, or ￿ffien awarded, rf that award creates a binding or constructive obligation on the PCC. The Diocesan Freevill Offering is accounted for when due. All other expendtbjre is generally recognised then it is incurred and is accounted for gross. Fixed assets Consecrated and benefice F￿pertY is rM)t Ir￿ll￿ded in the ffinancAal statements in accordance with section 10 (2) la) and (c) of the Charitles Acl 2011. Movat￿e church fumishings hdd by the vicar and churchwardens on special trust for the PCC and which require a faculty for disposal are inalienable propety, listed in the church's inventory, which can be inspeded at any reasonable time. All expendtture incuffed during the year on consecrated or bener￿e buildings and movable church fumishings. whether malntenance or improvement. is written off. other land and buildings held on behalf of the PCC ts own purposes are valued at mafket value. No depreciation is charged against su( properties as they are regulafly maintained to such an extent that their eslimated economic lives and residual values are suth that their depreciation is insigntficant. At each year end an assessment is carried OLrt to ascertain whether there is any indication that the properbes should be T￿Itten down li.e. whether its carrying amount is more than its recoverable amount). If there is no indication that a property should be written d¢)wn, it is not necessary to estimate the re￿Verable amounL Equipment used *rythin the churth premises. The Parish Centre and Church Hall is depreciated on a straight-line basis over its estimated useful lrfe of 4 to 10 years. Individual items of equipment ￿th a purchase price of £3.CK)O ￿ less are written off in the peri¢yl in which the asset is acquired. Debtors Trade and other debtors are recognised at the setdement am¢wnt due after any trade discount off8red. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash at bank and cash in harKI includes cash and short term highly liquid investments with a short maturity oflwo years or less from the date ofacquisition (ff opening of the deposii orsimilar accounL 20

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITh ST CUTHBERT. YORK NOTES TO THE FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31 DECEMBER 2021 I. ACCOUNTING POLICIES (continued) Creditors and provisions Creditors and provisions are re(xKJnised vthere the PCC has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the arnount due to settle the obligation tan be measured or estimated reliably. Creditors and provisions are nomally recognised at their settlement am￿nt after alkThing for any trade discounts due. Flnanclal Instruments The PCC only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measLred at their setU8ment value. Operating lease agreements Rentals applicable to coeratirKJ leases where substantially all of the benefrts ar￿ risks of ownership remain wth the lessor are charged against income on a straight-line basis over Ihe p8rfod of the lease. Irrecov•rablo Value Added Tax The PCC Is not reglstered for Valu8 A(kYed Tax IVAT) arKI accordingly expenditure is shown gross of irrecoverable VAT. The VAT inujrred from time to time on ￿rtain fabric repair and maintenance expendtlure can, however. be recovered underthe Listed Places of Worship Grant Scheme. Golng Concern The PCC has cash resources and has no requirement for extemal funding. The PCC has reasonable expectation that the churth has adequats resources to continue in operational e￿Stence for the foreseeable future. The situation with Cowd-19 seems to be resolving wtlh services and events retuming to nomial and we are seeing our member returning bad( in person and also new people all the time. As most of our income is from planned givirvJ and VR have not seen Cowd-19 affect this in a substantlal VRY, the PCC continue to believe the going concem basis of accounting Is appropriate in preparing the financial statements. Heritage Assets The Vicar and Church Wardens hc4d on special trust for the PCC silver and plate gifted to the church for ecdesiastical purposes. They date from the 17th century and therefore. there is Insufficient cost information available. Due to the unique nature of these assets and their historic association with vuship at the church over hundreds of years, conventional valuation techniques are not applicable and therefore have not been valued in the financial statements. The silver and plate, 22 items in total are listed in the churth's inventory and are regarded by law as inafienable assets which the PCC vK)uld require a faculty for disposal, Inspection can be arranged at reasonable tirnes where they are located. 21

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY wrrH ST CUTHBERT, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 1. AccouKfiNG POUCIES (continued) Pensions The PCC pays empbyer contributions into a variety of pensIC￿ schemes consisting of individual employee's personal pension schemes of their thoice and a workplace pension scheme to fu￿11 the PCC'S auto enrotment obligalions (Churth Workers penS￿n Fund). Church Workers Pension Fund - Penslon Bulkler 2014 st Michael le Belfrey PCC participates in the Pension Builder Scheme section of Church Workers Pension Fund for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the St Michael le Belfrey PCC and the other participating empknyers. CWPF has two sections: 1. the Defined Benefits Stheme 2. the Pension Builder Scheme, whth has iY) subsectffis: a. a deferred annuty section knovm as Pension Builder Classic. and. a cash balance sedJn known as Pension Builder 2014. Penslon Bullder Scheme Both sections of the Pension Buikjer Scheme are dassed as defined benefit schemes. Pension Builder 2014 is a cash balance stheme Ihat provldes a lump sum that members use to provide beneffts at retirement. Pension conlribuiions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factor& The accoun( plus any bonuses dedared is payable, unreduced, from age 65. There Is no Sutr￿dI¥7S1on of assets belween employers in eath section of the Pension Bullder Scheme. The scherne is considered to be a M￿l￿Mployer scheme as deS￿bed in Section 28 of FRS 102. This is because tt i8 not possible to attribute the Pension Bullder Scheme's assets and liabilities to specrfic employers and means Ihat contributKJns are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SOFA In the year are the conlrilyJlions payable (2021: £19,623. 2020: £18.304). A Wdluation of th8 Pènsion Builder Scheme is rarried ￿t once every three years. The most recenl vtss carri8d out as at 31 December 2019. The next valuation is due at 31 December 2022. For the Pengon Builder 2014 sectton. the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement f￿ deficit paY￿￿ts at the cJJrrent time. The16gal structure of the scheme is such that rf another wnployer fails. St Michael le Belfrey PCC could become responsth for pawrg a share of that employerfs pension liabilit￿. 22

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFREY WITH ST CUTHBERT, YORK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 ACCOUNTING POLICIES (c1)n￿nUed Accounting Estimates and Judgements The preparation of the financial statements requires management to make judgements. estirnales and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and otherfactors. including expectations of future events that are believed to be reasonable under the arcumstance$. The trustees believe that the followng judgements are uitical due to the potential material impact it has on the finarKial statements. Included vAlhin debtors are amourrt5 r￿1Ved in respect of donations lovrdrds the Impact project and Church planting. These amounts have been paid by donors to Stewardship who hold the funds on trust for the Church. The Trustees consider that the income recognition criteria of entitlement, probabilty of receipt and r￿Urernent have all been meL The donations were therefore reco3nis8d in full in the prior year and are included in debtors al the year-end as shown in note 13. The debt(K will be released as funds are received from Stewardship over the lrfe of the projects. Property Valuos The trustees con&der that the freehold land and buildings are valued at Iheir fair value in the financial ￿aternents. The valuations are undertaken by an extemal professional valuer who carried out a revaluation at 4 October2021 and the directors have used this valuation to review the falr value at 31 December 2021. A5 a resul( a revaluation gain of £155,000 has been recognised in the year. 23

THE PIROCH￿L CHURCH COUNCILOF THE ECCLESIASTICAL PARISH OF ST MICHAEL LE BELFReYwiTH ST CUThBeRT. YORK NOTES TO THE FINANCIAL STATEMEpifs FOR THE YEIR ENDED 31 DECEklBER 2021 {CONllNUED) Total Fund6 2021 2020 Fund$ Fund l Oonatlons and leg8cIo8 plann￿ Tax recoverable Colkcbons {OFen pEatel Legaues DOnati￿S Donati￿S- ImpactGrant Don81￿￿5- Curch PkntiThJ Grant 454.925 83289 69.145 16270 524.070 99.559 493.8B8 91,740 10.056 25.000 65.970 5.900.000 2,550.000 23,474 54.912 23,474 167271 111359 £ 69).573 £ 163,￿11 £ 814.374 £ 9,136.653 In 2020, incon frorn ￿(￿tk)n$ b8s 8rTKd￿ting ts £573.954 rn18￿ to Unrestr￿ fvnd8 and £8,562.699 related to reslrided fvnds. In¢ornofrom charltable church acllyl Events Other incorne from cl¥Jrth a¢bvlies 51.807 3.242 53,289 3,242 57,621 3,729 55,049 1.482 £ $6,531 £ 61.350 In 2020. Inco￿ from charitsbie church athilLèS aftK¥Jnlir¥J to £60,8(Ll related to llnrestr￿ ftmd5 and £550 relaled to restricted frjnds. 0th8r trad5rt9 a¢tl¥lil#s Sa Hlre of faclles Music 6.174 4,128 142 6.316 4.128 5,135 3,022 41 10.332 £ 142 £ 10.474 £ 8,198 Investment Income Dfvlder¥ts Depfy8itintsre8t 1.148 1,126 10,881 1.719 1.719 £ 6.032 £ 7,751 £ 12,C4)7 In 2020, Iwestrnent iwJn aft￿nb"rvJ lo e3.164 Teled lo unre8trtsJ £8.843 rnlated to rethctsj funds. PCC dso rerthes frrAn 2.212 Charities Fund share& Hower. lh8 value of th• shares has not been induded the balance $heet because. although th8 PCC rec8we5 the income, 6. Oth•r In¢om Other In￿[r Govemm&* grants 7,746 3.104 2.134 942 20.814 8.826 10.850 £ 3.076 £ 13.926 £ In 2020. other incom8 arrvyjnliig ts £28.932 relaw lo ￿reStri￿ f￿d$ and £70B relaied to r8str¥a8d fund5. Total IrKom• £ 728,523 £ 174$33 £ 3.056 £ 9.247.848

(Y¢Drrroo (o rLr>i 0(yr￿0 Orlt) • rLn17J UJ o¢n i (ryuj 01 fDlg

Fur £ts435 120 al.667 X)M7 9.01 138 GMr¥JfrcffiGNI Day 2J.917 23.917 10.936 BlxergJpw w￿ffe IEwès} 13.248 8.610 7.020 6.13J 13248 8h10 10.378 8.610 6,120 1IN24 6.120 11.064 Roberts SuFWt TèarFw 10,0 1544 16 16 2>) SoBd FuTrd 49.843 57.092 Ea5tWd Frierth krtemabjnzl ke Paul ￿￿T5 P&$￿￿ Yoyo Miwcn ¢3vng 361 361 131 16 310 192 5.50D 16 Wconen'5 Nfilmstry E¥aWist S￿ert E¥qWsm MinMty 131 310 5.142 17 SoualJusUce& Ad 13￿79 475 ￿,354 21853 63.722 e &)J92 e 94.114 £ 91.881 In 2020. GMts was rnad2 up of £10 b) and £1D.928 retatro IJ reslrfKled 19,623 39J.fy)8 366.754 22266 19.205 19.W23 1& Sryial %evJrAyw515 £ 431￿6 £404.253 •mpW cdrJJaod on th•bBsts offvU4rn0 oWvdgn&was 17 (2020- 181

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL OF ST MICHAEL LE 8ELFREYlVftH ST CUTHBERT. YORK NOTES TO THE FINANCklL STATEMENTS FOR THE YEAR ENDÉD 31 DECEIIBER2021 ICONTINUEDI 11. T￿gIbblIxed assets Chwth & &JId￿￿ Velith Ewiwnthtt At 1 Janu￿Y202l Revaluation 12. 83,891 8g1.741 155.0￿) 155.tKKI At 31 D￿tItsr 2021 12.8X 83.891 1.046.741 D8L¥BThth At 1 January 2021 Charge for ￿ar 77.076 86.714 5.038 At31 D8cembw2ff21 12.850 79.701 92,551 Natbook valu8 At 31 Dewnb8r2021 4,1￿ £ 954.190 At 31 Oe¢emb¥20YJ £ ￿.¢￿£ 3213 £ 6,815 £ 805.028 Th8 treehdd land and buikliry5, ¢UtyirJ 13 HemF4ar¥J Drive. 28 La Avenue arKI Church Hal rev8￿￿ at 41h Odober 2￿1 by Stephwrtthts Esiate Agwts. and are at rnartet va￿$ of £450,OC#). £210,000 d £290,000 r8spacUv8ty. Wlhe fre8hcJ wopetyhad rwJt been ¥aW￿. uryJBrthe hokffi¢o1 ￿$t ¢•)nvention &8 fdlu8.' 2021 2020 Hist(kal at 31 D￿emt￿r2tr2o 639.(W £ 639.co) At 31 December 2021 tArvJiLk assets a rt tK¢)k vpkn rfu54.1￿ P020. È801.81¥ relai8d to the unreslricted and iarvJiblefred as5etswith a y￿U8 of Nl (2QO.£3.2131 rdaiBd to rtisirKW fLmd&. 11 Sloek Bockstall 8bx other 13. Dqbtors Trade det 15 7.524 8,813 411J,000 7.2SO,000 8,441 15,430 303.525 PrepayFrnts and accrued Ir￿ Accruéd Income. Church Pcst P¥derit 1ftwa￿41th1n £ 7.217.426 £ 7.666,352 At 31 December 2021 £r,1S6.37712tr20. £7.656.021) 01 ¢18tt(s reAabJ kn res11￿￿ the debttys rdatad to tre threslrided furvts. 2020 1& Cash atbank and In hwnd Bank bala￿8$ 2,351.058 2.107.175 383 £ 2.351.442 £ 2.107.558 At 31 Decèmber 2021 £304.459 (2tr20. WI.705) ol tash t4lart8s rd*•J b) ￿Te51r￿led and £2,046,983 P020 . £1.775,8531 to resthd&J hJTrJs.

PIROCH￿L CIVJRCH ¢OIIN¢L OFTrE E¢¢LESIASTI¢AL PAISH OF ST lIJ￿HAEL LE BELFREYY4fTri ST ClI￿ERT. YIJRK NOTES TOTHE FI14ANC￿sTAlE1AEmTS FOR Tr￿VER ENDED 31 DECEMBER 2021 ICONTINUEDI 15. Crvimors.. fall￿ sar Trade creditor6 AccNals and defe￿ed kncom8 Taxaid sock31 $8oJrityuBd 2021 2020 28.725 5.474 422 79.693 e 39.255 At 31 Dewrnb2021 £33,(ts16 W20.£4A17lof(¥vthxs rnlthd VJ tdated to fund•. 2021 8,081 6,491 18,0811 2020 10,718 8,081 110,7181 Deferred lftcomè at 1 Januy2021 R680urcas d8f8rr•J dur￿ tha 58r Art￿￿1$ re￿a8￿j from prayi￿ts 6.491 £ 081 usa aftorlhe yoarerY. D8ferrod fty2020 2Ql was In ad￿f0rd￿￿ wthw88n 88tyblrd dbcount was offered and aLso ￿ int￿0 paWJ ILY fubm p￿￿5. L•nd •d budthngs Operating1è8sBs Under 1 ￿ar Wrfhin 2 to 5 ￿ar& AftBrtnore than 5 sa 2,210 .444 £ 1.504 £ 40.144 £ 2,210 2U21 41y8 £ 41654 17. Unr•slrt¢tsd aThl D•slqnat•d Other 01K¢1r2021 31M212021 Unr25trided fund- Generdl Unrn5trfded fund. R888rve 953,841 156.r 1761.745) 1.965 922.584 311.000 155.(OJ 1.109.841 1761.7451 1SS.O(KJ 1,233J84 TotdUnrv8trldeddDethFurKls £ 1.109,841 £ 728,522 £ (761.7451 £ 1.965 £ 155.OCKJ £ 1,233￿84 Other Tw6fer5 TBrggnised B8trfKen gains aTh1 005sesl 01fi)1r2020 31112r2020 Unrastricted )lJTrY- General Unr051ricled lund. Re¥￿ual￿ R•serve 896.365 156.(XXI 675.048 121( 951841 156,0(K) 1.C62, 1.052,365 1122.OC4JI TO1￿ Unr85tr1¢Xed 8nd Cwnaled Fun £ 1.174,365 £ 675,048 £ (7393r21 £ 1,109,841

PJIOCHIAL CHUR¢H ¢OUNaLOFTHE ECCLESIASTICAL PARISH ST IIICHAEL LÉ BELFREYiwfH ST CUTHBERT, YORK NOTES To￿ FWJKIAL8TATE￿s FOR TheYER 8aYED J1 DECEkTER 2021 ICOIITINUEDI 11. ResIr1ct￿ Fun C8th Inwrfnmg thtgrAng Res￿rGe& TIar￿rn 3111212021 0110112021 G2 fvnd Acts 435 Storehouse BI￿8 Fund Cl¥J￿h Planung fund StWiNrad Ecdes￿S#t￿l CW{COIF) Evangefjsm of the N Funer81 Colwti Gmng Awayoay H&hlp Furd Hcdyf•mmunion Hwse of pts￿r Hou$6 of Pra￿r Pe¢ Impact Proje¢t Intem5hlp Bursary L¢gacyforChLrth N6VerG￿e Up on8.off Cc418cih Post PandernK Fufvj Prerni5es Legacy Youlh Fund L•gac¥ MUSK Iroyaw) .651 81,7191 32 1530,000 3.336 IXt.OTh)111,(KX>.(XIO} 11.1261 11.7851 1.149 161 69 6,752 581 23,474 14,785 581 (4.8691 <3.1841 IIN74 17.33) 6.637.992 (7.3201 (254,1841 10,orrf 6N34.149 1.120 311 4,237 $0241 1.120 311 4x1 1ffi56 1.075 11,7401 1fj671 115.8041 I.¢J02M3 966,009 154.825 1Y.825 4.OBS 382 14 14.(1851 14 1.051 2,ori) 1,Ol¥J Sozo Fund stgin&l GLqss KI￿ntenan￿ St kriL￿r$w8nv￿￿ Bur st8lne¢Y Gkqss Mainten3nr Stcuthberes WawKk 175 11621 UnSpBc￿ed bul Resthl¢ Wcrn's K4knhty 573 2.036 9.430.480 174.533 1392.7341 11,96SI 8,210,314 The pwp)8e ond use ofewth tsSlrwAéd frJThl is bythe rorne oftrol resFthYftJThl. The ImpaL PrnipGtfund tsto b6 tssad to l￿fil the rdans b renovats rnnffivst Pknhaalb Btha¥Jrth ¥)[t￿ mrn )d ml%sh)n kn th8 cDmir4 ￿T In A￿1 2021 we roc£fvod perrn￿￿￿ +USQ £1m olth•Cthwth a rwrestrkknj lundsxs0r1￿ an￿led Post Pand8rn* Fun￿ The tr8nsfvrrw bo seBn gbrme.

CHURCH COLINCL OFTHE ECCLESJASnCAL PARISH OF NOTESTOTHE FIIIANCiALSTAT8IEMTS FOR TIEYEAREP￿I 31 DECEIiBER2021 ICOIrnNUE>I 1& R•tsivle•d FLthd. ¢•nllnwd Transf8r5 3111212020 G2 fund 31.495 87.876 18B.7201 11.6591 ,Snl 11341 30.651 Storeh(￿86 1.120 134 Biblè F￿nd chU￿b PIaTr￿n9 fvTrJ Sl Wibfred E¢t4eSa$b¢￿ Chity IW Evangelism c4the North Fwer81 ¢dlections 4Ving Doy Hatdship Furwj H￿l￿rg Cru55es Housè of Prayer Housp of Ppyer P Impact p￿8¢t Jim Fox Donau lfjdzaub Legacy for Sfvfjr 2.5￿.(1￿) 1,126 2,550.OOD 5,0SB 3.972 161 15.058 12ni 14,785 581 {5001 1.387 1.534 17?20 6.fj37,gW2 .6801 Pg),T851 1391 1.W.350 S.WIOh27 311 4,321 238 154,825 4,085 382 14 908 10 8,5T1 18.5191 19.825 9227 Youth Fund Legary Musl¢ Iroy4150s1 S￿eL￿)￿s sozo Fund 81 Cuthbert¥ Gavden stainèd ￿858 MWnt•r￿ St Stained Glass Malntenarth StOJI￿rr$Warn￿1 Bwit Slud8nl W(Yker Fund The Comeryoulh Oulroxh unsp￿￿ed Restricted Wornens MMNstry 15.1421 14 744 1138) 2,000 1,000 18,2fd 182T21 500 573 1,981 253 lj41￿4 8.572.8 4￿.124 19. •sMl¥ Fun TO￿ 2021 Tarylble fixeda8ets Currenta¥8Bis Ctqditor&.' 954,19) ,041 954,1W) 9,569,401 9243.W) 146.6471 133.0461 179.6931 t 1233,SB4 £ 9210.314 £ 10,443.898 Funds Fun T(rta 2020 Taryitrle fix£d asgots Curr8nl asgats Credllurs." AmoLnts falw cmy 15 3.213 342W 9A31,884 9,774,548 (3d.6361 14.617) 139.2551 È 1.109￿1 £ 9.430.w t 10,540,321 Mlthad Perkns and Vr&L￿a Earl arp ￿￿t￿N50d frYrArochi arn nBc•ssftrly by t￿ tofiJlN ￿ t1uN89 ofih8lrpct th8 Lkm bythtrC•4Rt stwrnl5￿hryrtY￿thethWth cl En￿￿. In addiknn Revd PorferrEcw￿5 sel slalutrry Par￿k187 fees foroffirAatrg al these are flyts ts KK¥I Flf/d ￿ristian SBfvaraknarn emplo￿ A￿u$l2021. During year 4 tcld c4 £54.7B2 OKhlh¥ ohl) f2021.fj6.4451 tA8 th& PCC ty PCC {trL￿a$), ¢k)sg kn nrnber

ThE PAROCHtPL CHURCH COUNCIL OFTHE ECCLESIASTIUL PARISH OF ST MICH￿ LE BELFREYwrrH STcimiBERT, YORK NOTES TO ThE F]11￿C￿&sTATE￿lE1￿fS FOR IHEYEAft EI¥JED 31 DECEM￿2021 ICONnNUEDI . Comp4rnltb Slat•m8nt of Fknanclal Acfl¥tt FOR THE YEAR ENDED 31 DEC8IBER 2020 T41 Ful￿8 2019 Fu Fund8 Funds Incom8 and endowmwts frwi.. Donatkns ansj legades Income from Gharitabl8 aLY Othertradino acth￿8¢ Inve5trnents Other inrA)m0 562,6Yg 9,138,653 61.350 8,198 12.007 29,640 893.651 76,695 23.372 16.144 5,835 8,19B 3.164 28.932 Total In¢0 674048 &571000 9.247.848 814697 Exponditurn on: fvnds Charitabl? churth 3.793 1.260.528 739.022 486,124 1.225,146 Tot41 •xp•ndlthre 486.124 1225,695 1264,321 Not InGomnllexpènditur•l befor• qalns and losses on In¥estm•nts 164.5241 8.086.676 4.022.153 1449.6241 Net (lo￿s) on Investments N•t In￿M￿ll•xP9n￿IlUTrl Trarthrs fuTrJs 164x41 122.ljc a.￿6.676 8,022.1&3 - 449,624 I122.or￿s) Il•t mowngnt In Funds IA76 1122,OODI 8,OK676 8.022.153 1449,6241 Totsl furtd$ broughtfornard at l January2020 1.(62.365 122,rA) 1,343.804 2￿10,1 2.%7.793 Total funds for*ard at 31 December 2020 £1.10W1 É 9M30.480 £10.510.321 £ 2.518,169 31