ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2023 The Parochial Church Council of All Saints, Church, Gosforth Registered Charity numbcr". 1131094
PAROCHIAL CHURCH COUNCIL OF ALL SAtNTS' CHURCH, GOSFORTH Table ofConlep7ts Page Number Trustees Report Independent Examiners Report Statement of Financial Activities Balance Sheet io Notes to the Financial Statement
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH Trustees Report for 2023 Aims and purposes All Saints, Parochial Church Council IPCC) has the responsibility of ¢oop¢rating with the incumbent, the Reverend Canon Andrew Shipton, in promoting the ecclesiastical parish, the whole mission of the chur¢h, past(Trral, evangelistic, social and ecumenical. The PCC is also spe¢ifi¢alSy responsible for the maintenance of the Church, the Church Centre and two properties adjacent to ihe Centre. Objectives and activities The PCC helps ste¢r the life of the church in its mission, witness and service in the parish. The PCC has responsibility for the care of all the people in the parish and not just the people who go io the ehurch. It is also eommiited to enabling a5 Tnany people as possible to worship at our church and to become part of our parish eommuniry ai All Saints. We aim that through our worshtp, prayer, engaoemeni with the Bible and participation in the sacraments. we become a positive force within the wider cotntnunity. When planning our acÉivities, we have considered the Charity Commission's guidance on public benefit and, in particular, the supplementary guidance on charities for the advancemenr of religion. Working together as a church we aTe pursuing a vision io put All Saints ai the heart of the wider community. Our Yision is to be vibrant. inclusive. compassionate. outward looking church with a sensitive and thoughtful approach to faith, where there is excellent pastOTal care with encouragemeni for all. where diversity is welcomed, and our worship inspires us to transforni the world. To facilitate this Work, it 15 important that w¢ maintain the fabri¢ of the church of All Saints and the Church Centre. Achievements and performydnce Throughout 2023, there persisted a collective endeavour to ty to respond to the call of God in a changing context following the pandetnic and its aftermath. Considerable energy was devoted to maintaining our worshipping life and upholding our commitment to fostering an outward looking, inclusive, nurturing, and ¢ngaged worshipping community. As stated above, All Saints mission and ministry continu¢s to extend beyond the walls of the church to encompas5 everyone within the parish. Worshipping Life The PCC continue to offer a range of services during the week and over the course of the year that our community find both beneficial and inspiring. On Sundays ai leasi three different services with addresses were held and all were conveniently available for viewing on our yOTUbe channel. In Autrjmn the PCC Away Day proved to be a productive gathering where key priorities were d1US5¢d, and actions agreed upon. There was a consensus that the variety of worship formats, ¢x¢¢ut¢d well, align with th¢ vision of being diverse. open. thoughrful, humble, kind, jusl. and g¢neTOUS. All are welcorne to attend our regulaT services. At pres¢ni there are 214 p2rishion¢rs on th¢ ¢hur¢h ¢lectoral roll of which 106 are non-residenl. The average Sunday att¢ndan¢¢, counted in October, was 95 adults and 6 children, but this number incTea5ed at festivals, and for ¢xampl¢ on Christtnas Eve, we w¢l¢om¢d 863 worshippers. In response to fallino attendante of children at our 09.'30 Sunday service our Young Saints Group was suspended. This Change prompted ihe introduction of the 'AII Together. monthly communion service. tailored for all age groups but with a special focus on our younger 0p]e. actively involving them in various aspects of worship. Also. from the Autumn, in preparation for the All Together Services, art classes in the Centre were provided foryoung people. In addition. a monthly service for younger children was also offered in the Parish Centre as has a session for Christian Meditation. Our devotional life was enriched by the Lent ¢OUTse and full programmes for Easter and Christma5. The thuwh ¢hoir ha5 gone from scrength to strength to enhance worship with the welcoming of n¢w members. During the year there were fourteen church funeralslthanksgiving services, six s¢rvi¢e5 at the ¢rematoriurn without a huwh service, and eleven services for th¢ burial of ashes. Additionally, there were two weddings and a thanksgiving for a wedding. The baptisms of nine childr¢n were ¢¢l¢brdled.
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, CVOSFORTH Ordination of Miriam io the Priesthood., On July Isi, Miriam was one of six ordained by Bishop Helen-Ann; a momenttsus occasion shared with her family and friends. marking a significant 1]estOne on her journey. Sh¢ cel¢brated the Eu¢harist for the firsi time on July 9 Rededication of ihe Calvary Cross.. March 26th marked a significant occasion for the worshipping and wider community as Bishop Mark Wioe and guests were welcomed to commemorate the rededication of the Calvary Cros5 in the Remembrance Garden. Heartfelt gratitude was expressed to all who generously supported this project, including the Community Foundation and many private individuals. Deanery SyThod Four membeTS of the PCC sit on the Deanery Synod. This provides the PCC with an important link bthveen the parish and the wider stwcture of the Church. Pastoral Care and Fellowship Members gf the clergy hav¢ visit¢d all chur¢h members who have r¢quested it. A PastOTal Care group have also kept in touth with those unwell. Solne rnernbers of our parish are unable to attend church du¢ to Sickness or ag¢ and monthly Home Communion was Provided to 6 people and visits to 2 care homes, also monthly, t(M)k place. Fellowship lunehes. monthly on Sundays, in the Centre, provided valuable sUPPOrt to those on their own. The Monday morning'coffee and Conversation, sessions and'sing at the Centre, Tuesday afternoon meetings continued to be popular as did the 'Sew Knit and Natter group, on Wednesdays. The Mothers. Union, the Film Club and the All Saints Readitig Group also met monthly. Young people Throughout the year, the Youth Fornm met to review progress and set objectives. Sadly. the Chil(tren and Young Families, Youth Worker, Jaddai Kambeya, who worked for Youth for Christ, concluded his titne with us in July due to relocation. Conversations wilh YFC (on how besi to work in parthership to engage young people in the parish) continued. On July I Ith. Archbishop Runcie Firsi School held an aftemoon concert in churth (attended by many parents) which was followed by an event on ihe Green specifically for Year 4 children from local schools who would be transitionin& in September, from First io Middle School. To commemorate this significani milestone. they enjoyed an afternoon filled with activities including a bouncy castle and pizza. Visits to Archbishop Runcie School continued twice weekly to lead worship and off¢r music supporL The ¢ver-popular Uniformed Groups continued to flourish, and a new Rainbow Group cotntnenced on Mondays, complementing the Guides and Brownie5. The weekly pre-s¢hool 'Little Saints, group was also well supported. Engag¢rnent with th¢ wider community sUp)rt for a nominated charity each month was gladly continued likewise for the Kenton Food Bank. A group of church members worked hard wiih'Tyneside Welcomes. to provide housing and care fora Syrian Refugee family. The AlleSty Group continued their monthly correspondence on behalf of those unjustly imprisoned. In April, the first of four highly popular FaTm¢TS' Mark¢ts of the year t¢)ok place on the pathways around church. Visitors to th¢ markets w¢r¢ ¢ntertain¢d by a wide rang¢ of vocal and instrumental groups and welcomed into church. Following a spe¢ial commemorative servic¢ on May 71h for the Coronation of the Kin& a day of workshops led by church members took plac¢. These session5 provided opp(Mtuniti¢s to explore new a¢tLVlti¢s and engage with those using the All Saints Centre. In August, very many were welcomed to the Green (for the third consecutive summer) when All Saints hosted the 'Handlebards' foi their unique rendition of 'A Midsutnmer Night's Dream,. Throughout the year, ten profrssional classical music evening concerts were hosted in church. In December the Christmas Fair was a tremendous success.
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CFtURCH, GOSFORTH Chureh cornmunity life Very Sadly we lost several devoted church tnembers including Ronnie Robson, Meriol Penn, Ann Shaw, Jghn Nols, Tony Arrnitage, Sonia Downing, Shelia Piper, Elizabeth Crawford, Ethel Randall, and Michael Fisher. Appreciations of their lives appeared in our magazine, 'Keeping in Touch.. On Advent Sunday, gifts were given io retiring members Fred Carr, Vic Spong, and Margaret Patterson and grdtitude was expressed for theÈT dedicated service. Meanwhile, Chris Bolland &8sumed the role of Treasurer. ensuring the smooth transition and functionin8 of our financial affairs. As always, ongoing sincere gratitude is Conveyed most notsbly io the clergy team. Churchwardens. Parish Administrator and Caretaker. We would also like io thank all the volunteers who work so hard to make our church the lively and vibrant community it is. Bulldings and InfrAstructllre During the year there were two developments of note. A new drainage system to the church green was installed to incre8se acces5 gnd use for both the church and wider ¢ommunity. The total cost amounted to £23,676 of which related fundriising, mainly brought forward from last year covered £10,381 with the balance paid fro unrestricted funds. A flood in ihe tower ringing chamber brought atx)ut water damage io the baptistry carpet. Fomjnately, we were covered by insurdnce which paid for the replacemeni of all the carpet in the church at a cost of £29.113. The replacement carpet will be laid in quarter one of 2024. Financial Review Total re¢¢iptS OD unrestri¢t¢d funds w¢re £243,732 of whi¢h £97,618 was unr¢stri¢ted plonned voluntary donations, and a further £22,599 catne from related Gift Aid. Other voluntary donations including recovered income tsx amounted to £15,277. During the year the PCC received two unrestricted legacies amounting to £22,929. In total, unrestricted voluntary donations amounted 10 £158,423. Rental income from the two residential properties adjacent io the Church Centre amounted to £20,398 which together with Church Centre lettings. £14.533 and fundraising activities, £7,417 provided a fier unrestricted income of£42.348. F¢¢ in¢(Trme and income from inv¢stm¢nts amounted to £13,848. Total expenditure charged against unrestricted funds amounted to £254,335. Our contribution to the diocesan parish share increased by 50/0 to £117,00, the cost of the carpet replacement was £29,113 and the balance of the field drainage System arnounted to £13.295. OveTall. the PCC incurred a deficit (before investment gains) of £10,603 on unrestricted funds made up of a gain on the Legacy Fund of £10,642 and a deficit on the General Fund of £21,245. This disappointing result followed a deficit on the General Fund in 20?2 of £16,378 with the loss of regular planned giving donors and the dityiculty in raising rtds during the pandemic and its immediate aftemath were significant factors. In Quarter 4 an appeal was made asking existing donors to review their giving levels and in Quarter l of 2024 this appeal will be extended to the wider community of All Saints. Our unrestricted ndS comprise of a General Fund and a designated Legacy Fund arising out of l¢ga¢ie5 and gifts in memoriam received and provides funds primarily for rnajor repair5 or capital projects aSslated with the Church or Church C¢ntr¢. In 2022, the PCC was the beneficiary of a legacy of £132,500 and in 2023 two further legacies totallÉng £22,929 which significantly increased our Legacy Fund and our free reserves. At the same tiTne our Generdl Fund has fallen sharply due to the deficits hiohliJo ted above 2nd while the PCC remain committed to maintaining a stronts Legacy Fund il was decided to transfer £40,000 into the General Fund. Ov¢rall, the nei tnov¢ment on unrestri¢ted funds was an outflow £7,418 to leave a balanee of £151.519 of which £113,958 is represented by net current assets. The overall balance on restri¢ted fijnds fell by £16.805 and was largely accounted for by the completion of the field drainage project. £9.681 and the cost of our youth work amounting to £7,292.
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH Reserves It is PCC policy to try to maintain a balance on free or unrestricted reserves (net Current assets) which equates to at least thr¢e months unrestricted payments. This is equivalent to £56,306. It is held to smooth out fluctuations in cash flow and to med emergen¢ies. The balance of the free reseryes at the year-end was £113,958 which is significantly ahead of the amgunt required to ¢omply with this policy. This 15 viewed as reasonable to cover the approved work to the organ in 2024 ai an estimated cost of £26,000 and the possibility of a further deficit on unre5tricied funds in 2024. Invcstment Policy Central to the PCC'S longer lem investment policy is to place funds in invesiments offering a good level of distributions and long term protection from inflation. The PCC'S sole investment rests with The CBF Church of England Investment Fund where the fijnd aims io pi-ovidt d luii(J.lei-iii tuldl Eelui-n coinpri511lQT (Ji-oiiih tn capiliil and disli ibutions. The PCC CLirreiiil> Invests £i8.4?6 in ihis fund. The PCC will from time to riine make shori tern) deposiis up io a Inaximum of Iwo }eai's wilh UK based banks authorised by Ilie Prudeniial Reoulaiion Aiiihority and regulaied by Ihe Financial Conduct Auihorilj, and the PrLidential Reoulaiion Authoriiy. As ai J I, Deceimber ?0? J Ilie PCC lield £60.000 wilh Cainbridge and Couniies Bank and £50,000 wilh Uniied Trust Bank. Structhre? governance and management The Parochial Church Council (PCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Power5 Measure. The PCC 15 a registered charity. The method of appointment of PCC members is set out in the Church Representative Rules. At All Saints, the membership of the PCC consists of the incumbent (our vicar), churchwardens. co-opted members appointed by the PCC and members elected by those of the congregation who are on the electoral roll of All Saints. All those who attend our serviceslmembers of the congregation are encouraged to register on the electoral roll and stand for election to the PCC. The PCC members are responsible for making de¢isions on all matteTS of general concern and importance of the parish. including deciding on how fund5 of the PCC are spent. The PCC has nominated officers responsible for Health and Safety {including disability discrimination issues) and Safeguarding (of children and vulnerable adults) who receive trainino and infomation from the diocese and cascade this to the wider PCC as appropriate. These issues are standing items on the agenda of the PCC. The full PCC met six times during the year with an average attendance of 73 /0. Given lis wide responsibilities the PCC ha5 a number of committees dealing with a particular aspect of parish life as follows-. The Standing Committee The Fabric Committee The Safeguarding Committee The Standing Commiiiee comprises of the Vicar. Churchwardens, Lay Vice-chair, Treasurer, Seereiary and three members of the PCC. The Standing Committee deals with routine operatÈonal issues, provides advsee and infomation to the PCC and has the power to transact business of their behalf between its meetings. Administrative information All Saints, Church is situated in Gosforth, Newcastle upon Tyne. It is part of the Diocese of Newcastle within the Church of England. The coryesponden¢e address is, All Saints, Parish Office, West Avenue, Gosforth. Newcastle upon Tyne. NE3 4ES. Registered Charity number 1131094. Advisors.. The Independent Examiners f(TrT the Annual R¢port and Accounts 2023 w¢re, Haines Watts, 17 Queens Street, N¢wca5tle upon Tyne, NEI IRN.
PAROCHIAL CHURCH COUNCIL OF ALL SAfNTS' CHURCH, GOSFORTH PCC members who have setved at any time from l January 2022 until the date of this rer4)rt are: Ex officio members.. In¢umbeni Wardens.. The Reverend Canon Andrew Shipton (chairnian) Irs Christine Willoughby Mr Nick Glover Revd Dr Miriam Jone5 Assistant Curate Observer A5S1Stant Priest Revd Ruth Bimie Deanery Synod members". Ms Diane Kirkup Mrs Rosamund Place Mrs Pamela Taylor Elected Member5= MT Peter Brown Ms Ali50n Wilson Dr Claudia Newbegin (until 30 April 2023) Mrs Marian Coulson-cave Mrs Feliciry Shoesrnith (until 30 ' April 2023) Mrs Karen Parkhouse Mrs Dorothy Henderson (until 28th May 2022) Mrs Katie Hogg Mrs Diana Lavin Mrs Francine Bain Mrs Pauline Gallacher Mrs Valerie Hedley Mr5 Joy¢¢ J¢nnings Mrs Lesley Ogilvt¢ Mrs Dana Corso (from 30, April 2023) Mr Robert Golden (from 30, Apiil 2023) Co-opl¢d for one year.. Safeguarding Officer Treasurer Secreiary M5 Kath Davies Mr Fred ca (until 5, Septelnber 2023) Chri5 Bolland lfrom 5 Seplember 20231 Dr AIL50n Charlewood This report was approved by the PCC on 12 March 2024 and signed on th¢ir b¢half by.. Andrew Shipton Vicar and Chair of the Council 281h April 2024
Independent Examiner's Report to the Trustees of The Parochial Church Council of All Saints, Church, Gosforth For the year ended 31 December 2023 I re)rt io the charity trustees on my examination of the accounts of the chariry for the year ended 31 December 2023 which are set out on pages 9 to 19. Respon5ibilitie5 and basis of report As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Chariiies Act 2011 {'the 201 l Aci'}. I report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my exatnination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(bl of the Act. Independent examiner's statement I have eompleted Tny examination. I confirm that no material matters have come io rny attention in connection with the examination giving me cause to believe that in any material respect.. accounting retords were nol kept in respect of the charity as required by section 130 of the Act. or the accounts do not accord with ihose records; or the accounts do not comply with ihe applicable requiremenis concerning the fom and Conieni of 0ntS set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thai the accounts give a'true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matter5 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. Haines Watts Date 17 Queens Lane Newcastle upon Tyne NEI IRN Chartered Accountants
PAROCHIAL CHURCH COUNCIL OF ALL SAtNTS' CHURCH, GOSFORTH STATEMENT OF FINANCIAL ACTtVlTIES For the year ending 31 Deccmber 2023 Unrestrict Restricia Endowment TOTAL IDTAL Funds Funds Funds 2023 2022 Noi¢ INCOME AND ENtX)WMETrt15 Voluntary irtcom¢ Activilies for EeneraiinE funds Incoffl¢ from investtnenls 21al 21bl 21¢) 21dl 21el 158.423 42.348 1,300 760 159,723 43,108 5,318 9,100 29,113 306,070 41,766 2,781 8,385 ,536 4,748 9.1 OQ 29.113 i70 Intome from church aciivities (Xher incoming o50urtes TofAL INCOME 243,732 2,630 246,362 360,538 EXPENtMTURE Church activitie5 31al 31bl 251.925 2.410 19.460 35 271.385 2.445 252.629 6,3Q7 C05t of g¢neTating funds TOTAL EXPENDtTURE 254J35 19,495 273,830 258,936 NEfiNC(MFJIEXPENDtIUREI 110,6031 116,8651 127,4681 101,602 Nct gainslllosscs) on investments 3,185 ,795 4,980 NEfiNC(MEIIEXPENDtIUREI 17.4181 116,8651 1,795 122,488} 94,691 TRANSFERS BEnlEEN FUNDS Gainslllosseslon revaluaiioÈJ of fixed asseis 35.000 NEf MOVEMEFrr IN FUNDS 17.4181 116,8651 .795 122.4881 129.691 Total funds brought fon¥ard 658.937 74.880 19,070 752.887 623.196 Total fund5 carried fonvaTd 651.519 58.015 20.865 730.399 752.887
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH BALANCE SHEET AT 31 DECEMBER 2023 2023 2022 Not¢5 FIXED AssErs TanBiblc Investments 500.000 58,426 500.000 52,439 558,426 552,439 CURRENfASSE15 Dcbtors and prepaymcnts Short-ltrm deposits Cash at bank ond in hand 7.789 110,000 75,692 18,210 120,000 70.418 193,481 208,628 LIABILITIFS Crditors- amounts falling du¢ witihitj one year 21,508 8,180 NEfCuRRENfASSETL[A8]LIT[Es 171.973 200.448 TOTAL ASSEfs IESS CURENT LIABILIIIES 730,399 752,887 Cr¢ditors- 8mount$ fallirtE due after one year TOTALNET ASSErs 730,399 752,887 PARISH FUNDS Unrestrirtcd io&i I 651,519 658.937 Restrieted io&i 58,015 74,880 Fndowment io&ii 20,865 19.070 730,399 752,887 Approved by the Paroehial Church Council on 12th March 2024 and 5igtLed on its behalf by.. Andrew Shipton Vicar and Chair of the Council 28th April 2024 io
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH. GOSFORTH NOTES TO THE FtNANCIAL STATEMENTS For the year ended 31 December 2023 l. Accounting Policies The significant accounting policies applied in the preparation of these fjnancial staiemenis are set out below. These policies have been consistently applied to all years presented unless otherwise stated. Basks of finanel81 $tatements The PCC 15 a public benefil entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in a¢cordan¢e with the Church Ac¢ouniing Regulations Act 2006 governing the individual accounts of PCCS, wilh the Regulations true and faiT view" provisions. and under FRS102 {2016} as the applicable accounting standards and the 2019 version of the Statement of Recommended Practice. Accounting and Reporting by Chariti¢s {SORPIFRS102)). The finatjcial staternents have been prepared under the historical cost conventi(Trn except for investment assets, which ar¢ shown at market value. The financial statements inelude all transact10115, assets and liabilitie5 fgr whi¢h the PCC 15 responsible in law. GoiThg Concern The members of the PCC have prepared ihe financial statements on the basis that the PCC is a going concem. After making reasonable enquiries, the members of the PCC do not cot)sider there are any material uncertainties about All Saints, ability to continue for a period of at least 12 months from the date of approving these financial siatemenis. Funds Unrestricted fund5 are fund5 that are not subject to any restriction regarding their use and are available for application for the general purposes of the PCC. Restricted funds are ndS held on specific trusts under chaiity law. The specific trusts may be declared by the donor hen making the gift or may result from the ternis of an appeal for nds. The aim and use of each restricted nd is set out in the notes to the financial statements. Permanent endowment funds are restricted funds which Tepresent monies or otheT assets given with the specific instruction thal only ihe in¢om¢ from th¢m may b¢ spent and that the capital must be retained permanently. Incorne and Endowments Voluntary income Planned giving, collections and donations are recognised when received by or on behalf of rhe PCC. Income tax recoverable on donations is recognised when the donations are received. Legacies are accounted for as soon as the PCC is notified of its legal entitlement and the amount is quantifiable and its receipt is reasonably certain. Trading activities R¢ntal income from the letting of chuTch premises is Tecognised on an accruals basis when the Church is entitled to the Tent. Income from investments Investment income is eamed through holding assets for tnvesttnent purposes. It Èneludes dividends and intettst. Where it is not practicable to identify investtnent tnanagement costs incurred within 8 scheme with reasonable #¢curacy the investsnent income is reported net of these costs. It is tncluded when the amount can be measured reliably. Interest income is recognised using the effetiive inieiest method and dividend income is recognised 8$ the charity's right to receive payment is established. Gains and losses on investments Realised gains or losses are recognised when investments are sold. Unrealised gains or losses are accounted for on the revaluation of investments at the balance sheet date.
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH NOTES TO THE FfNANCIAL STATEMENTS For the year ended 31 December 2023 (continued) l. Accounting Polieies {colltinued) Expenditure Chureh activities- The Diocesan Parish Share 15 accounted for when paid. Mission Giving and donation5 are accounted foT when paid or when awarded if that award carries a binding obligation on the PCC. All other expenditure is generally recolsed when it is incurred and is accounted for gr05S. Fixed assets Consecrated and beneficed propety of any kind is excluded from the accounts by Chapter 2, Section 10 of fhe Charities Act 201 l. Movable church furnishings held by the Vicar and Churchwardens on special trust for the PCC and which require a faculry for disposal are accounted for as unalienable property unless consecrated. In the case of unalienable property acquired prior to l January 2001 there is insufficient information available and therefore such assets are noi valued in the accounts. All expendtture incurred during the year on consecrated or beneficed building5.' individual items under £2(K)O. or the repair of moveable ¢hur¢h furnishings acquired before l January 2001 is written off. her fixtures, fittings and office equipment Used within the church premises ar¢ normally depreciated on a straight-line basis over three years. Individual items of equiprnent Wlth a net cgst of £2.000 or less are written off when the asset is acquired. The properties are held at fair Yalue in the accounts. The most recent valuation was held at 2022. Inyestmenis are stated in the balance sheei at their market value on 31 December 2023. Currtnt avsets Amounls owing to the PCC at the balance sheet date in respect of fees, rents or other income are shown as debtors less a provision for any amount5 which may prove unwIltable. Pension fund All Saints participates in the Pension Builder Scheme section of the Church Workth5 Pension Fund (CWPF) for lay staff. CWPF is administered by the Church of England Pensions Board. which holds the CWPF assecs separately from those of All Saints and other participating employers. CWPF has two sections, the Defined Benefits Scheme and the Pension Builder Scheme which has two subsections. a deferred annuity section known as Pension Builder Classic, and a cash balance section known as Pension Builder 2014. Pension Builder Scheme Both sections of the Pension Builder Scheme are cla55ed as def]ned benefit schemes. Pemsion Bmilder Classye provides a pertSon, accumulated from eontribution5 paid and Converted into a deferred annuity during ernploytnent based on tem5 Set and reviewed by the Church of England Pensions Board from time to titne. Discretionary increases may also be added, depending on investment returns and other factors. Pellsioii Btsilder 2014 is a cash balance scheme that provides a lump sum which members use io provide benefits at reiirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account. plus any bonuses declared is payable, unreduced. from age 65. There i5 no sub-division of assets b¢tw¢¢n employ¢r5 in ¢ach s¢ctlOD of the Pension BuildeT Scheme. The 5eh¢rn¢ 15 ¢onsid¢r¢d to be a multi-¢mploy¢r sohem¢ as d¢scrib¢d in S¢ction 28 of FRS 102. This is be¢ause il i5 not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and m¢ans that contributions are accounted for a5 if the Schem¢ were a defined contribution s¢h¢m¢. Th¢ p¢nsions 51$ charg¢d to the SOFA in the year are the contributions payable12023.. £1,207, 2022.. £1,100). 12
PAROCHIAL CHURCH COUNCIL OF ALL SAtNTS' CHURCH, GOSFORTH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 (continued) l. Aceovnting Policies (continued) A valuation of the Pension Builder Scheme i5 carried out once every three years. The m05t recent valuation was carried out as at 31 December 2019. For the Pension Builder Classic section, the 2019 valuation revealed a defieit of £4.8m on the ongoing assumptions used. At the most recent annual review effective l January 2024, the Board chose to grant a discretionary bonus of 6.7 /0 to both pensions not yet in payment and pensions in payrnent in respect of serviee prior to April 1997., and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 5Yo (where usually it would be calculated based on inflation up to 2.59/0). This followed improvements in the funding positiott over 2023. There is no requirement for deficit payments at the current time. For the Pension Builder 2014 section, the 2019 valuation revealed a sUlUS of £5.5m on the ongoing assumptions used. There is no requirement for deficii payments at the rUent time. The next valuation is due as at 31 December 2022. Calculations for this are CUTrently under way. The legal 5trllctL]re of the 5cherne is such that if another ernployer fails, All Saints could bec4)me responsible for paying a share of the failed employer'5 pension liabilities. All Saints had two active members and no deferred members in ihe Pension Builder Classic Scheme ai 31 December 2023. C#5h flow ststement The PCC have iaken advantage of ihe exempiion conferred by FRS 102 to dispense with the requirement to prepare a cash flow statement as the income is less than £500.000. 13
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH NOTES TO THE FfNANCIAL STATEMENTS For the year ended 31 December 2023 (continued) 2. IDcom¢ ¥nd endowments Unr¢%trict Restrict¢d Fndommeni TOTAL TOTAL Funds Funds Funds 2023 2022 2{al Volulltary IncomÈ Planned giving (AheT donations 97.618 12.425 25.451 22,929 97.618 13,725 25.451 22.929 100.361 31,493 30,830 132,500 10,886 1,300 Tccovernbl¢ tKgaci¢5 (èant5 158,423 1,300 159.723 306,070 21bl Activities for generating fund5 Church Cenirc Itiiings Property Icni&l income Fundraising 14.533 14.533 20.398 8,177 14.647 17,530 9,789 20.398 7.417 760 42 J48 760 43.108 41,766 21¢) IhtothÈ from IV*stttttts Dividends on CCL4 Investment Fund 1.008 3.740 570 1.578 3,740 ,542 1,239 Bank Interest 4,748 570 5,318 2,781 21dl Income from church activities Fees for weddin85 and funerals 9,100 9,100 8.385 9,100 9.100 8.385 2(el Otber incoming resourcts Ittsurdnce elaims 29.113 29,113 (hher Income 1.536 29,113 29.113 1.536 Totsl income 243.732 2,630 246 J62 360 J38 14
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH NOTES TO THE FINANCIAL STA TEMENTS For the year ended 31 December 2023 (continued) 3. Expellditure Unrcsiricted Resiricled Endowment TOTAL T(YFAL Funds Fund5 Funds 2023 2022 3{al Church activities Ministry Diocesan parish share I 17.000 117,000 Clergy and staffing Clergy houstng aud expenses Support staff 8.769 25,262 8.769 25262 6,888 23,083 Cburch Altar requisit¢5 and v&4iments Church running cxpens¢s'. Cleaning and general maintenance Energy costs Insurance Printing, statiortery, supplits Oiher Major r¢p31rs Music lorgan, organisi, music) 1.739 1.739 .492 3.012 3.388 4,128 3,388 8,101 8,265 3231 29,113 8,688 1,271 4,009 7.561 4,783 3,989 29.560 8,545 8,265 29.113 8,446 242 Centre And Grounds Cenire running COSIS Major r¢pair5'. Calvary Cross & fi¢ld drainage Complcicd in 2022 16,722 16,722 19,013 13,295 10381 23,676 12.818 9,712 Assurance lrtdependettt examination costs Trustee training 1,094 Property related expenditure Old eietgy and Vei8erHouse 4,498 4.498 4.500 Mission ind education Youih Work Mission and education Mi5SLon giving stLOrtfall 7,607 7,607 1,564 1.197 45 65 63 251.925 19,460 27 1,385 252,629 31bl Co$t of gtlleratine fulld8 Stewardship costs Fund rdisirtg ¢osts 2,410 35 2,445 6,307 2,410 35 2,445 6,307 TOTAL RESObTICES EXPENDED 254,335 19,495 273,830 258,936 15
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH NOTES TO THE FtNANCIAL STATEMENTS For the year ended 31 December 2023 (continued) 4. Mission giving Ihe PCC continue5 to dedicate open plate collections to the chosen mission of the month Special Collections Church Toial Funds 2023 Monthly dortAtions- The Cedarwood Trnsi 458 458 Tyneside Welcomes Friends of Muran]binda Htsspital. Zirnbabwe Churrh Mission So¢i¢ty 369 369 432 432 471 471 338 338 Cornerstone 415 415 Mission to kafarer5 361 361 Prnctical Compa55ion for Destitut¢ Children Linda Norgrove Foundation Walking With Feeding Families West Fnd Refugee Service 523 523 479 479 467 467 382 382 214 66 280 4,909 66 4,975 Other don4tioMs ChrisiinEIc Chiistm&s Eve {c&rol servittsl Chrisim&s Day Other 250 250 1,186 242 242 3,598 3.598 5.276 5.276 Total foT 2023 10,185 66 10,251 Total for 2022 9.197 44 9.241 Notes The aTnounts listed above are con5Ldered to be direct intotne for the charitie5 concerned and only pas5 through All Saints, bank account for recording putposes. Therefore. these amounts are not rncluded in either the intome or the expenditure in these accounts. 16
PAROCHIAL CHURCH COUNCIL OF ALL SATS, CHURCH, GOSFORTH NOTES TO THE FINANCIAL STATEMENTS For th¢ year end¢d 31 D¢¢emb¢r 2023 (continued) 5. Staff costs 2023 2022 Wages and salaries Social security costs Pcjjsion costs 24,055 21,997 1207 6.550 1,086 6,625 29.708 gartists, fees 31.812 Averagc numb¢T of ¢mploy¢¢s The PCC employed one part-time administrator and one part-time caretaker throughout 2023. Fees paid to organists are also shown. 6. Fixed aet$ At l Jan. 2023 Reyaluaiion Ai31 Ikc. 2023 Propcrties fair valuc 500.000 500,000 The properties comprise the All Saints, Centre, which was written off in previous years and the two adjacent houses, the Verger's House and the Old Clergy House. The Verger's House and the Old Clergy House are both valued at £250,000 with both properties similar with respect to floor area and number of rooms. The title to the land on which the All Saints, Centre and the two houses are situated is vested in the Church Commissioners. All otrice equipment is fully deprttiated or in the case of individual items cosiing less than £2.000. was written off on acquisition. 7. Inves¢meDts 2023 Market value at l January 2023 Additions 52.439 1.008 UDrealised gains Market value ai 3 1 tkcember 2023 4.979 58,426 These comprise 2,585 shares (2022- 2,5381 in the Central Board of Finance of The Church of England Investment Fund and are stated at market value at the balance Sheet date. Their cost was £17,177 {2022 £16,169). 17
PAROCHIAL CHURCH COUNCIL OF ALL SAINTS, CHURCH, GOSFORTH NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 December 2023 {continued) 8. Debtors and other amounts recelvable 2023 2022 Prepaytnents Income tax recoverable 2239 3.474 2,076 7,462 3.923 6.825 Other debtors 7.789 18.210 9. Creditors gnd other amounts falllng due within one yethr 2023 2022 Crediiors foigood$ and 5¢rvi¢¢s A¢¢ruals 3.377 17,993 138 4,540 3,543 97 PAYL. and national insurance contributions 21.508 8,180 10 Summary of assets by fund Endowments Restricted Unttsiricied Unrestricted Total tzgacy General Investments 20.865 37,561 89,452 S8,426 171.973 Nel current assets 58,015 24,506 500.000 Properties 500,000 20,865 58,015 127,013 524,506 730,399 18
PAROCHIAL CHURCH COUNCIL OF ALL SAtNTS' CHURCH, GOSFORTH NOTES TO THE FtNANCIAL STA TEMENTS For the year ended 31 December 2023 (continued) I l. Statement of funds Fund balances Incoming Ojigoing Resources r¢sourc¢s TTansfers between funds Gains and losses Fund balances cir blf Matmahon Fund 19,070 1,795 20,865 19,070 1,795 20,865 RESIRICTFDFUNDS Gloria Smith (Youth Workl Fund Calvary Cross & Field Trainage Music Fund 62,201 9,681 242 315 17,607} 110,381) 12421 54.909 700 Flower Fund 104 io Older Persons Activities 1,704 296 275 1,979 296 Church Christmas Lights Farmers, Market 392 759 Income from permanent endowment 260 571 831 74.880 2.630 119.4951 58,015 Property C¢neral Fund 500.000 5.750 153,187 50Q.000 24.506 219.795 (241,0391 23.937 113,2961 4Q.000 140,0001 Legary Fund 3,185 127,013 658.937 243.732 {254,3351 3,185 651.519 TOTALFUNDS 752.887 246,362 {273,8301 4,980 730,399 MacM8hon Permanent Endowment Fund Under the Will of Alice Mary Macmahon. who died on 6 April 1966, this fund is held on trust to apply the income of the fund in the maintenance, repair and upkeep of the fabrkc of the church and the churchyard. Gloria Smith (Youth Work) Fund This represents the monies raised less expenditure to date for youth work in the parish and comtnunity of All Saint5. Old Persons Attivities This represents funds forthe provision of social and pastoral care of older people within the parish and Comunity Of All Saints. Income from Permanent Endowment Income from the Macmahon fund is credited to this fund. Costs in connection with maintenance as defined above are charged against it to the extent that the available in¢(Fme allows. ikgacies Fund This nd is credited with the value of legacies and gift5 in metnoriam received with or without spe¢ifi¢ instru¢tions as to their use and provides fijnds primarily for major repairs or capital projects a550ciat¢d with th¢ ChUh or Church Centre. 19
PAROCHIAL CHURCH COtrNCIL OF ALL SAfNTS' CHURCH, GOSFORTH NOTES TO THE FtNANCIAL STATEMENTS For th¢ year ended 31 December 2023 (continued) 12. Related Party Transactions Expenses payable to the Revd Canon Andrew Shipton and the Revd Miriam Jones amounted 10 £2,029. The Revd Canon Andrew Shipton has occupied a house attached to his appointment since September 2014. Costs borne by the PCC in connection with the Vicarage during 2023 totalled £4.236. The Revd Miriam Jones has occupied a house attached to h¢r appointment as Curate since September 2022. Cosis borne by the PCC in connection with her house during 2023 totall¢d £2,504. No allowances for expenses incurred in the course of work for the church were paid to any other tnember of the PCC duTing 2023. 20