Charity registration number: 1 131093 

Morpeth Parochial Church Council Annual Report and Financial 

Statements for the Year Ended 

31 December 2021 

Wellway Accountants Limited Borough Hall Wellway 



Morpeth Parochial Church Council 

Morpeth Northumberland NE61 IBN 

|Morpeth<br>Northumberland<br>NE61 IBN||||
|---|---|---|---|
||Contents|||
|Reference and Administrative Details|||1|
|Trustees' Report||||
|Statement of Trustees' Responsibilities|||4|
|Independent Examiner's Report|||5|
|Statement of Financial Activities|||6|
||||7|
|Balance Sheet||||
|||8|to|
|to Financial Statements||20||
|Notes the||||





## Morpeth Parochial Church Council 

## Reference and Administrative Details 

Trustees Reverend Simon J H White Reverend Paul Rusby Reverend Jeremy Cooper Mr Jonathan Richardson Mr Michael Daws Dr Robert Young Ms Sarah Wylie Mrs Jeannette Waters  Mr  David Pope Mrs Pauline Young Mrs Pauline Ferguson Dr Lindsay Gilf lan Mrs Christine Stevenson Prof. Andrew Cant Mrs Val Pope Mrs Val Cowan Mr David Waters Mrs sally Keith Mrs Julia Tasker Mrs Carol Reed Principal Office Morpeth Parish Office St Aidan's Church Shields Road Morpeth Northumberland NE61 2SA 

Charity Registration Number1131093 

Auditor Wellway Accountants Limited Borough Hall Wellway Morpeth Northumberland NE61 IBN 

Page 1 



## Morpeth Parochial Church Council 

## Trustees' Report 

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2021 , 

## Objectives and activities 

## Public benefit 

The Parish has been a centre of worship and of service to the community of Morpeth for over 800 years. Our purpose is to be a worshipping and praying community, which is open to the Grace of God, active in Christian service and ready to reach out in fellowship to enable people to respond to God, so that we can continue Christ's work in the world. 

Morpeth Parochial Church Council has the responsibility of co-operating with the incumbent, the Rev Simon White, in promoting in the ecclesiastical parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the three local churches: St Mary's, St James' and St Aidan's and the premises at 7 Manchester Street. 

The parish has continued throughout the year to develop its outward looking focus and to invest in the community especially with its community project and worker based in Stobhill. The parish has now developed a mission action plan to help the parish grow in mission and evangelism. This plan has helped the parish to seek to develop all its church centres into sacred & colnmunity spaces and to continue to serve the wider community. As part of this plan, the parish conducted a feasibility plan, examining potential uses for its property at 7 Manchester Street. 

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how funds of the Parish are to be spent. The clergy  and  PCC  consider  the  Charity  Commission's  guidance  on  pubfic  benefit  and,  in particular, the specific guidance on charities thr the advancement of religion. 

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales, 

## Structure, governance and management 

## Recruitment and appointment oftrustees 

Trustees are appointed at the APCM, however the trustees may appoint a new trustee to fill a vacancy temporarily or to bring in additional skills or experience. Such a trustee will retire at the next AGM but can then be reappointed. 

## Financial instruments 

Ohjectives andpolicies 

Page 2 



## Morpeth Parochial Church Council 

The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and Liquidity risk. The use of financial derivatives is governed by the charity's  policies  approved  by  the  board  of  frustees,  which  provide  "mitten principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes. 

## Trustees' Report 

## Cash flow risk 

The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rates. The charity uses foreign exchange forward contracts and interest rate swap contracts to hedge these exposures. 

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. 

## Credit risk 

The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments. 

The  charity's  credit  risk  is  primarily  attributable  to  its  trade  receivables.  The amounts  presented  in  the  balance  sheet  are  net  of  allowances  for  doubtful receivables. An allowance for impairment is made where there is an identified loss event  which,  based  on  previous  experience,  is  evidence  of  a  reduction  in  the recoverability of the cash flows. 

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties  are  banks  with  high  credit-ratings  assigned  by  international  credit-rating agencies. 

The charity has no signiflcant concentration of credit risk, with exposure spread over a large number of counterparties and customers. 

## Liquidity risk 

In  order  to  maintain  liquidity  to  ensure  that  sufficient  funds  are  available  for  ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance, 

Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. 

The annual report was approved by the trustees of the charity on 15 March 2022 and signed on its behalf by: 


Page 3 



## Morpeth Parochial Church Council 

Reverend Sim n J H White Trustee 

## Statement of Trustees' Responsibilities 

The trustees are responsible for preparing the trustees' report and the financial statements in accordance  with  the  United  Kingdom  Accounting  Standards  (United  Kingdom  Generally Accepted Accounting Practice) and applicable law and regulations. 

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a frue and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to: 

select suitable accounting policies and then apply them consistently; 

observe the methods and principles in the Charities SORP; 

make  judgements  and  estimates  that  are  reasonable  and  prudent; state  whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 201 1, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Approved by the trustees of the charity on 15 March 2022 and signed on its behalf by: Reverend Simon J H White Trustee 

## Independent Examiner's Report to the trustees, Morpeth Parochial Church Council 

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 6 to 20. 

Page 4 



## Morpeth Parochial Church Council 

## Respective responsibilities of trustees and examiner 

As the charity's trustees of Morpeth Parochial Church Council you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act'). 

I report in respect of my examlnation of the Morpeth Parochial Church Council's accounts carried out under section 145 of the 2011 Act and in carrying out my examination  I  have  followed  all  the  applicable  Directions  given  by  the  Charity Commission under section 145(5)(b) of the Act. 

## Independent examiner's statement 

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

- I.  accounting  records  were  not  kept  in  respect  of  Morpeth  Parochial  Church Council as required by section 130 of the Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair  view'  which  is  not  a  matter  considered  as  part  of  an  independent examnation. 

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 accounts to be reached. 


Borough Hall Wellway Morpeth Northumberland NE61 IBN 

15 February 2022 

Page 5 



7 

## Morpeth Parochial Church Council 

Financial for the Year Ended 31 December 

## 2021 

|2021|2021||
|---|---|---|
|Statement of||Activities|
|Note||Donatio|
|Income<br>and<br>Endowments||ns and<br>legacies|
|from:||Investm|
|Donations|and|ent|
|legacies||income|
|Investrnent||3|
|income|3|Other|
|Other income||income|
|Total Income||Total|
|Expenditure||Income|
|on:||Expendi|
|Charitable||ture on:|
|activities||Charitab|
|Other||le|
|expenditure|7|activitie<br>s|
|Total||Other|
|Expenditure||expendi|
|Gains/kosses|on|ture|
|investment|||
|assets||Total|
|Net movement in<br>ftnds||Expendi<br>ture<br>Gains/lo|
|Reconciliation||sses on|
|of funds||investm|
|||ent|
|Total<br>funds||assets|
|brought<br>forward||Net|
|||movem|
|Total funds||ent in|
|carried forward||funds|
|||Reconci|
|||liation|
|Note||of funds|
|Income|and|Total|
|Endowments||funds|
|from:||brought|
|||forward|



Pag e 6 



## Morpeth Parochial Church Council 

|||||||Council|||||
|---|---|---|---|---|---|---|---|---|---|---|
|||Total funds|||||||||
|||carried|||||||||
|||f01ward|||||||||
|General<br>Restricted|||||||||||
|||funds<br>funds|||||||||
||||4,057||||||4,057||
|||6,104|||||||||
|||119,868<br>8<br>6,224|||||113,26<br>2||||
||||14,792||||||||
|6,||||||||98,470|||
|2|(122,246<br>(7,499)||(129,745)||||||||
||)||||||||||
|2|(l ,374)<br>(28,734)<br>(123,620)<br>(36,233)||(30,108)<br>(159,853)||||||||
|||7,268||7,268|||||||
|4||3,955<br>(22,853|(18,898)||||||||
|||)|||||||||
|||17,137<br>104,591||121,728|||||||
|||||||General|Restricted|||Total|
|||21,092 81,738||||funds|funds|||2020|
|||102,830|||||||||
|||All of the charity's activities<br>derive from continuing||||121,633<br>1,882|22,067<br>67|||143,700<br>1,949|
|||operations during||the||4,233||||4,233|
|||above two periods.||||127,748|22,134|||149,882|
|||The funds breakdown for|||||||||
|||2020 is shown in note 15.<br>(Registration||||(123,887<br>)|(8,350)|||(132,237)|
|||number: 1131093)|||||(11,720|||(13,236)|
|||Balance Sheet|as at||31||)||||
|||December 2021||||(125,403)|(20,070<br>)|||(145,473)|
||||||2021||||||
||||||2020||||||
||||||No||||||
||||||te||||||
|||Fixed assets|||||||||
|||Tangible assets||||11|||||
|||Investments||||12|||||
||||||58,077||||||
||||||50,809||||||



Pag e 7 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

59,263 

|Current assets|||||
|---|---|---|---|---|
|Debtors||13|14,906|2,203|
|Cash at bank and in|||75,380|103,297|
|hand|||90,286|105,500|
|Creditors: Amounts falling due within one year||14|(46,719)|(35,971)|
|Net current assets|||43,567|69,529|
|52,199|||||
|Net assets|102,830||||
|Funds of the charity:|||||
|Restricted funds|||81,738|104,591|
|Unrestricted income<br>Unrestricted funds|funds||21,092||
|Total funds||15|102,830|121,728|
|121,728|||||



The financial statements on pages 6  to  20  were  approved  by  the trustees, and authorised for issue on 15 March 2022 and signed on their behalf by: 


Trustee I Accounting policies 

Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts  in  accordance  with the Financial Reporting 

Pag e 8 



## Morpeth Parochial Church Council 

Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)  and  the  Charities  Act 2011. 

## Basis of preparation 

Morpeth Parochial Church Council meets the definition of a  public  benefit entity  under FRS 102. Assets and liabilities are initially recognised at historical  cost  or  transaction value unless otherwise stated in the relevant accounting policy notes. 

Exemption  from  preparing  a cash flow statement 

The charity opted to early adopt Bulletin 1 published on 2  February 2016  and  have therefore not included a cash flow statement in these financial statements. 

Going concern 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. 

## Income and endowments 

Voluntary income including donations, gifts, legacies and grants that provide core funding or  are  of  a  general  nature  is recognised when the charity has entitlement  to  the  income,  it  is probable that the income will be received and the amount can be 

Pag e 9 



## Morpeth Parochial Church Council 

Notes to the Financial Statements for the Year Ended 31 December 2021 measured with sufficient reliability. 

## Donations and legacies 

Donations and legacies to the PCC are accounted for as soon as  the  PCC  is  notified  of  its legal entitlement, the amount due is quantifiable and its ultimate receipt by the PCC is reasonably certain. 

## Gift aid 

Income tax recoverable on Gift Aid  donations  is  recognised when the income is received. 

## Investment income 

Dividends  are  recognised once the  dividend  has  been  declared and notification has been received of the dividend due. 

## Expenditure 

Expenditure  is  accounted  for on an accruals basis and has been classified under headings  that  aggregate  all cost  related  to  the  category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of  resources.  Grants  offered subject to  conditions which have not been met at the year end date are noted as a commitment  but  not  accrued as expenditure. 

## Raisingfunds 

Pag e 10 



## Morpeth Parochial Church Council 

Costs of generating funds are the costs of trading for fundraising purposes. 

Pag e 11 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

## Charitable activities 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessa1Y to support them. 

## Support costs 

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, aflocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. 

## Governance costs 

These  include  the  costs  attributable  to  the  charity's  compliance  with  constitutional  and statutory requirements, including audit, strategic management and trustees's meetings and reimbursed expenses. 

## Taxation 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of incolne or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## Tangible fixed assets 

Individual fixed assets costing €0.00 or more are initially recorded at cost, less any subsequent  accumulated  depreciation  and  subsequent  accumulated  impairment losses. 

## Depreciation and amortisation 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Asset class method 

Depreciation method and rate 15% on reducing balance 

Fixtures and fittings 

Fixed asset investments 

Page 12 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 

## 2021 

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal. 

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. 

## Trade debtors 

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. 

Trade  debtors  are  recognised  initially  at  the  transaction  price.  They  are  subsequently measured at  amortised  cost  using  the  effective  interest  method,  less  provision  for impairment. A provision for the impainnent of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. 

## Cash and cash equivalents 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## Trade creditors 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. 

## Borrowings 

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. 

borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of' the relevant borrowing, 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. 

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. 

## Fund structure 

Unrestricted  income  funds  are  general  frnds  that  are  available  for  use  at  the trustees's discretion in furtherance of the objectives of the charity. 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Financial instruments 

## Classification 

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. 

## Recognition and measurement 

All  financial  assets  and  liabilities  are  initially  measured  at  fransaction  price  (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value  (which  is normally the transaction price excluding transaction costs), unless the an•angement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. 

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, signiflcant risks and rewards of ownership, has transferred control of the asset to another party. 

Financial  liabilities  are  derecognised  only  when  the  obligation  specified  in  the contract is discharged, cancelled or expires. 

Page 14 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

## Debt instruments 

Debt  instruments  which  meet  the  following  conditions  are  subsequently  measured  at amortised cost using the effective interest method: 

- (a) The contractual return to the holder is (i) a fixed amount; (ii) a positive fixed rate or a positive variable rate; or (iii) a combination of a positive or a negative fixed rate and a positive variable rate. 

- (b) The contract may provide for repayments of the principal or the return to the holder (but not both) to be linked to a single relevant observable index of general price inflation of the currency in which the debt instrument is denominated, provided such links are not leveraged. 

- (c) The contract may provide for a determinable variation of the return to the holder during the life of the instrument, provided that (i) the new rate satisfies condition (a) and the variation is not contingent on future events other than (1) a change of a contractual variable rate; (2) to protect the holder against credit deterioration of the issuer; (3) changes in levies applied by a central bank or arising from changes in relevant taxation or law; or (ii) the new rate is a market rate of interest and satisfies condition (a). 

- (d) There is no contractual provision that could, by its terms, result in the holder losing the principal amount or any interest attributable to the current period or prior periods. 

- (e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to put it back to the issuer before maturity are not contingent on future events, other than to protect the holder against the credit deterioration of the issuer or a change in control of the issuer, or to protect the holder or issuer against changes in levies applied by a central bank or arising from changes in relevant taxation or law. 

- (f) Contractual provisions may permit the extension of the term of the debt instrument, provided that the return to the holder and any other contractual provisions applicable during the extended term satisfy the conditions of paragraphs (a) to (c). 

Debt instruments that are classified as payable or receivable within one year on initial  recognition  and  which  meet  the  above  conditions  are  measured  at  the undiscounted amount of the cash or other consideration expected to be paid or received, net of impairment. 

With the exception of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profit or loss. 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

Commitments to make and receive loans which meet the conditions mentioned above are measured at cost (which may be nil) less impairment. 

## Investments 

Investments  in  non-convertible  preference  shares  and  non-puttable  ordinalY  or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. 

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. 

Page 16 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 

## 2021 

## Derivative financial instruments 

The charity uses derivative financial instruments to reduce exposure to foreign exchange risk and  interest  rate  movements.  The  charity  does  not  hold  or  issue  derivative  financial instruments for speculative purposes. 

Derivatives are initially recognised at fair value at the date a derivative contract is entered into  and  are  subsequently  remeasured  to  their  fair  value  at  each  reporting  date.  The resulting gain or loss is recognised in statement of financial activities immediately unless the derivative is designated and effective as a hedging instrument, in which event the timing of the  recognition  in statement  of  financial activities  depends  on the  nature  of  the  hedge relationship. 

## Fair value measurement 

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides  evidence  of  fair  value  as  long  as  there  has  not  been  a  significant  change  in economic circumstances or a significant lapse of time since the transaction took place, If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. 

## 2 Income from donations and legacies 

|92,772<br>Other voluntary incoming<br>resources<br>Appeals and donations<br>Fundraising<br>1,002<br>Donations and legacies<br>Planned giving<br>Gift aid tax reclaimed|94,966<br>16,493<br>6,104<br>22,597<br>40,793<br>1,002<br>1,946<br>92,77<br>2<br>General<br>Restricted<br>Total<br>Total<br>funds<br>funds<br>2021<br>2020<br>77,755<br>77,755<br>76,176<br>~~15,01~~7<br>15,017<br>18,790|
|---|---|



Page 17 



## Morpeth Parochial Church Council 

Notes to the Financial Statements for the Year Ended 31 December 2021 

|||] 7,495|6,104|23,599|42,739|
|---|---|---|---|---|---|
|Income from charitable trading||||||
|and Funerals)||9,601||9,601|5,995|
|||9,601||9,601|5,995|
|Parochial fees (Baptism,||||||
|Wedding||||||
|||1 19,868|6,104|125,972|143,700|
|3|Investment income|||||
|||General|Restricted|Total|Total|
|||funds|funds|2021|2020|
|Interest receivable and similar||||||
|income;||||||
||||8|17|130|
|Interest receivable||9||||
|Other investment income 1 ,474||||||
|4 Other income||||||
|||General|Restricted|Total|Total|
|||funds|funds|2021|2020|
|Church hall letting||6,224||6,224|4,233|
|||1,483|8|f,491|1,949|
|5<br>Expenditure on raising funds||||||
|6<br>Expenditure on charitable activities||||||
|||General|Restricted|Total|Total|
|||funds|funds|2021|2020|
|||Note||||
|Mission giving||2,202||2,202|3,146|
|Depreciation,||||||
|amortisation||||||
|and other||||||
|similar costs||204||204|240|
|Establishment Costs|||5,580|111,666|105,078|
|Repairs and||||||
|maintenance||6,671|||8,286|
|Church music and||||||
|altar||||||
|requisites||3,688|59|3,747|3,695|
|Other governance|||1,860|5,255||
|costs||||||



Page 18 



## Morpeth Parochial Church Council 

Notes to the Financial Statements for the Year Ended 31 December 2021 

||||2021||||
|---|---|---|---|---|---|---|
||||122,246|7,499|129,745|132,237|
||||||Activity||
||||||undertaken|Total|
||||||directly 2021||
|Mission giving|||||2,202|2,202|
|7 Other expenditure|||||||
||||General|Restricted|Total|Total|
||||funds|funds|2021|2020|
|Proj ects|||1,044|28,542|29,586|12,889|
|Allocated support costs|||330|192|522|347|
|1,374||28,734|||30,108|13,236|
|8|Net incoming/outgoing resources||||||
|Net (outgoing)/incoming resources for the year include:|||||||
||||||2021|2020|
|Depreciation of fxed||assets|||204|240|



## 9 Trustees remuneration and expenses 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 


## 10Taxation 

The charity is a registered charity and is therefore exempt from taxation. 11 Tangible fixed Cost assets At 1 January 2021 

Page 19 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

|At 31 December 2021<br>Depreciation<br>At 1 January 2021<br>Charge for the year<br>At 31 December 2021<br>Net book value<br>At 31 December 2021<br>At 31 December 2020<br>12<br>Fixed<br>asset<br>investments<br>Other investments<br>Other investments<br>Cost or Valuation<br>At I January 2021<br>Revaluation<br>7,268<br>7,268<br>At 31 December 2021|Furniture and<br>equipment Total<br>5,545<br>5,545<br>5,545<br>5,545<br>204<br>204<br>4,359<br>4,35<br>9<br>1,390<br>1,390<br>2021<br>2020<br>58,077<br>50,809<br>Listed<br>investments<br>Total<br>50,809<br>50,809<br><br><br>58,077<br>58,0<br>77<br>58,077<br>58,0<br>77<br>50,809<br>50,80<br>9|
|---|---|



Page 20 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

## Net book value 

At 31 December 2021 At 31 December 2020 

## 13 Debtors 

|13 Debtors||||||
|---|---|---|---|---|---|
|||||2021|2020|
|Prepayments||||14,841|2,097|
|Other debtors||||65|106|
|||||14,906|2,203|
|14 Creditors: amounts falling due within||one year||||
|||||2021|2020|
|Trade creditors||||1,956|3,564|
|Other creditors||||27,591|28,253|
|Accruals||||17,172|4,154|
|||||46,719|35,971|
|Total funds|(113,262)|(149,882)|145,353|(3,937)|(121,728|
||||||)|
|15 Funds||||||
||||||Balance|
||||||at|
||Balance at|||Other|31|
||1|||||
||January|Incoming|Resources recognised||Decemb|
||||||er|
|Unrestricted funds|2021|resources|expended|gains/|2021|
|||||(losses)||
|Restricted Funds - Brought||||||
|General<br>forward|(17,137) <br>(104,591)|(127,575)|123,620||(21 ,092)<br>(104,591)|
|Restricted Funds -||||||
|Incoming||||||
|resources||(6,112)|||(6,112)|
|Restricted Funds -||||||
|Resources||||||
|expended|||36,041||36,041|
|**Restricted**Funds - Other<br>funds|(104,591)|(6,112)|36,041|(7,076)|(81,738)|
|recognised gains/losses||||(7,076)|(7,076)|
|Total funds|(121,728)|(133,687)|159,661|(7,076)|(102,830)|
||Page 21|||||





## Morpeth Parochial Church Council 

Notes to the Financial Statements for the Year Ended 31 December 2021 

1 January Incoming Resources recognised Decemb er 2020 resources expended gains/ 2020 (losses) 

## Unrestricted funds 

General (14,792) (127,748) 125,403 (17,137) Restricted funds (98,470) (22,134) 19,950 (3,937) (104,591 General Fund - This fund is unrestricted and can be used in accordance with the charitable) The specific purposes for which the funds are to be applied are as follows:objectives at the discretion of the trustees. 

St  Mary's  Fabric  Fund  -  The  St  Mary's  Fabric  Fund  is  restricted  to  the  repair  and maintenance of the fabric of St Maw's church or other purposes to the benefit of the fabric of St  Mary's  church  at  the  discretion  of  the  Morpeth  Parochial  Church  Council  acting  as trustees. 

St James' Fabric Fund - The St James' Fabric Fund is restricted to the repair and maintenance of the fabric of St James' church or other purposes to the benefit of the fabric of St James' church at the discretion of the Morpeth Parochial Church Council acting as trustees. 

St Aidan's Beacon Community Fund - This fund is restricted for use on the Beacon Project. 

St Mary's Organ Fund - St Mary's Organ Fund is restricted to the repair and maintenance of the organ in St Mary's Church or other purposes to the benefit of the organ in St Mary's Church at the discretion of the Morpeth Parochial Church Council acting as trustees. 

St Luke's Investment Fund - This fund was created from the sale of St Luke's, Hepscott. 

Dark  Lane  Investment  Fund  -  This  fund  was  created  from  the  sale  of  church property. 

Appeal  Fabric  Fund  -  The  Appeal  Fabric  Fund  is  restricted  to  the  repair  and maintenance of the fabric of the churches and other buildings of Morpeth Parish or other purposes to the benefit of the fabric of these churches and other buildings at the discretion of the Morpeth Parochial Church Council acting as trustees. 

Page 22 



## Morpeth Parochial Church Council 

## Notes to the Financial Statements for the Year Ended 31 December 2021 

St  Aidan[l] s  Fabric  Fund  The  St  Aidan[l] s  Fabric  Fund  is  restricted  to  the  repair  and maintenance of the fabric of St Aidan[t] s church or other purposes to the benefit of the fabric of St Aidan[t] s church at the discretion of the Morpeth Parochial Church Council acting as trustees. 

Manchester Street Fund - This fund is restricted to funding and expenses of the project to refurbish the property at 7 Manchester Street. 

|16<br>Analysis of net assets between funds<br>Tangibte fxed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Total net assets<br>17<br>Analysis of net<br>funds<br>Cash at bank<br>and in hand<br>Net debt||58,077<br>58,077<br>57,428<br>32,858<br>90,286<br>(37,522)<br>(9,197)<br>(46,719)<br>General Restricted funds<br>funds<br>Total funds<br>21,092<br>81,738<br>102,830<br>At 1 January At 31 December 2021<br>Cash fow 2021<br>103,297<br>(27,917)<br>75,380|
|---|---|---|
||||
|||103,297<br>(27,917)<br>75,380|
||||



Page 23 



Morpeth Parochial Church Council for the 

## Year Ended 31 December 

## 2021 

## Statement of Financial Activities by fund 

|Statement of Financial Activities<br>by fund|||
|---|---|---|
||Total||
||Unrestricted|Unrestric|
|||ted|
||funds|funds|
||2021|2020|
|Income and Endowments from:|||
|Donations and legacies|119,868|121,633|
|Investment income|1,483|1,882|
|Other income|6,224|4,233|
|Total income|127,575|127,748|
|Total expenditure|(123,620)|(125,40|
|||3)|
|Net income|3,955|2,345|



Pag e 24 



## Morpeth Parochial Church Council 

## Detailed Statement of Financial Activities for the Year Ended 31 December 2021 

|||Total|Total|
|---|---|---|---|
|||2020||
|Expenditure on:||||
|Charitable activities||(122,246|(123,887)|
|||)||
|Other expenditure||(1,374)||
|Net movement in funds||3,955|2,345|
|Reconciliation of funds||||
|Total funds brought forward|||14,792|
|Total funds carried forward|21,092|||
||17,137|||



Statement of Financial Activities by fund 

Pag e 25 



Morpeth Parochial Church Council for the 

Year Ended 31 December 

2021 

Total 

Restricted Restricted 

funds 

funds 

Income and Endowments from: 

2021 2020 

Donations and legacies 6,104 22,067 

Pag e 26 



Morpeth Parochial Church Council 

Detailed Statement of Financial Activities for the Year Ended 31 December 2021 

Total 2020 

Investment income 

8 67 

Expenditure on: 

Charitable activities (7,499) (8,350) Other expenditure (28,734) (1 1 ,720) 

Pag e 27 




**----- Start of picture text -----**<br>
Morpeth Parochial Church Council for the<br>Year Ended 31 December<br>2021<br>Total expenditure<br>(36,233)<br>(20,070)<br>Gains/losses on investment assets<br>7,268<br>4,057<br>Net (expenditure)/income (22,853)<br>**----- End of picture text -----**<br>


Pag e 28 



## Morpeth Parochial Church Council 

Detailed Statement of Financial Activities for the Year Ended 31 December 2021 

Total 2020 

Net movement in funds 

Reconciliation of funds (22,853) 6,121 

Total funds brought forward 104,591 98,470 

Pag e 29 



|Income and Endowments from:|Total|22,134|
|---|---|---|
|Total income|2021||
|Donations and legacies (analysed|125,972|143,700|
|below)|||
|Morpeth ParochialChurchCouncilforthe<br>Investment income (analysed below)<br>1,491<br>Other income (analysed below)<br>6,224<br>Expenditure on:<br>Charitable activities (analysed<br>below)<br>(129,745)||1,949<br>4,233<br>(132,237)|
|Other expenditure (analysed below)<br>Total expenditure|Year Ended 31 December<br>(30, 108)<br>(159,853|(13,236)<br>(145,473)|
||)||
|2021<br>Gains/losses on investment assets (analysed below)<br>7,268<br>Net (expenditure)/income<br>(18,898)||4,057<br>8,466|
|Net movement in funds|(18,898)|8,466|
|Reconciliation of funds|||
|Total funds brought forward|121,728|1 13,262|
|Total funds carried forward<br>81,738|||
|104,591|||
|Total income|133,687|149,882|



Total funds carried forward 102,830 121,728 

Pag e 30 



## Morpeth Parochial Church Council 

## Detailed Statement of Financial Activities for the Year Ended 31 December 2021 

|Detailed StatementofFinancial Activities for<br>December 2021|the Year Ended 31|ded 31|
|---|---|---|
|Donations and legacies<br>Planned giving<br>Appeals and donations - St Mary's Fabric Fund<br>Appeals and donations - St James' Fabric Fund<br>Appeals and donations - St Aidan's Beacon Project Fund<br>Appeals and donations - St Mary's Organ Fund<br>Appeals and donations General Fund<br>Gift Aid tax reclaimed<br>Parochial Fees<br>Manchester Street Fund<br>Mission Giving Funds Received<br>Investment income<br>Interest Received - St Mary's Fabric Fund<br>Interest Received - St James' Fabric Fund<br>Interest Received - St Mary's Organ Fund<br>Interest Received - Appeal Fabric Fund<br>Interest Received - St Aidan's Fabric Fund<br>Interest Received - General Fund<br>Income from other investments<br>Charitable activities<br>Depreciation of fxtures and fttings<br>Charitable donations<br>Parish Share<br>Clergy Expenses<br>Clergy Housing Costs<br>Water rates<br>Light, heat and power<br>Insurance<br>Page 31<br>Other income<br>Church Hall<br>Lettings|Total<br>2020<br>Total<br>2021<br>77,755<br>76,176<br>720<br>500<br>250<br>567<br>10,000<br>434<br>16,493<br>18,726<br>18,790<br>9,601<br>5,995<br>4,700<br>11,000<br>~~1 ,002~~<br>~~1,946~~<br>125,972<br>143,700<br>6<br>45<br>6<br>2<br>12<br>3<br>1<br>9<br>63<br>1,949<br>6,224<br>4,233<br>(204)<br>(240)<br>(2,202)<br>(3,146)<br>(65,000)<br>(65,800)<br>(1,780)<br>(1 ,983)<br>(4,086)<br>(3,977)<br>(409)<br>(282)<br>(9,867)<br>(8,806)<br>(11,466)<br>6,224<br>~~4,233~~|Total<br>2020<br>76,176<br>500<br>567<br>10,000<br>18,726<br>18,790<br>5,995<br>11,000<br>|
|||~~1,946~~<br>143,700<br>45<br>6<br>12<br>3<br>1<br>63|
|||~~4233~~|





## Morpeth Parochial Church Council 

## Detailed Statement of Financial Activities for the Year Ended 31 December 2021 

|Church Hall Running Costs<br>Parish Ofice Costs - St Aidants Beacon Project Fund<br>Parish Ofice Costs St Aidan's Becon Project Fund<br>Parish Ofice Costs<br>Parish Ofice Costs<br>Parish Ofice Costs - General Fund<br>Parish Ofice Costs - General Fund<br>Repairs and maintenance<br>Church<br>Altar<br>Requisites<br>Church<br>Altar Requisites<br>Church Organists, Choirs and<br>Music<br>Other expenditure<br>Projects - St James' Fabric Fund<br>Projects<br>Projects - General Fund<br>Bank charges - St Aidan's Beacon<br>Project Fund<br>Bank charges - Manchester<br>Street Fund Bank charges -<br>General Fund|Total<br>2020<br>(3,041)<br>(2,435)<br>(8,350)<br>(5,334)<br>(246)<br>(28,542)<br>(11,520)<br>(1,044)<br>(15289)<br>(227)<br>_____gg:l!:»<br>(13,236)<br>788<br>3,054<br>1,373<br>1,896|
|---|---|



Gains/losses on investment assets (Gain)/loss on programme related investments 

Funds  -  investment  assets  -  St Luke's Fund Funds - investment assets - Dark Lane Fund Total 2021 

(3,395) (3 ,442) (129,745) (10,187) (10,329) (132,237) (6,671) (8,286) (520) (3,168) (3,028) Page 32