Registered Charity Number: 1131532
THE PAROCHIAL CHURCH COUNCIL OF MONKSEATON ST MARY
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST ] DECEMBER 2024
| Contents | Page |
|---|---|
| Annual Report | i - iv |
| Independent Examiners Report | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Notes to the Financial Statements | 4-6 |
| Detailed Statements of Financial | |
| Activities* | 7 |
- Page 7 does not form part of the statutory accounts as required by the Charities Regulations
The PCC members (the Trustees) present their annual report and accounts for the year ended 31[st ] December 2023 which complies with the Church Accounting Regulations 2006 and the Charity Commission's Statement of Recommended Practice.
Administrative Information.
The Ecclesiastical Parish of Monkseaton St Mary the Virgin is a benefice consisting of the St. Mary the Virgin, Monkseaton in the Archdeaconry of Northumberland in the Diocese of Newcastle within the Church of England. The correspondence address is: The Parish Office, St Mary's Church, Claremont Road, Whitley Bay, NE26 3SF Tel No: 0191 6767798. email: office@stmarysmonkseaton.org.uk
The Parochial Church Council (PCC) registered as a charity on 7[th] September 2009. The registered charity number is 1131532.
PCC members who have served from 1[st ] January 2024 to the date this report was approved are:
Ex Officio Members
| Ex Officio Members | |
|---|---|
| Vicar | Reverend Nigel Taylor |
| Assistant Curate | Claire Lewis (Appointed 1stJuly 2024) |
| Licensed Lay Minister (LLM) | Nicola Denyer |
| Licensed Lay Minister | Margaret Evans |
| Churchwarden | Carol Nesbitt |
| Churchwarden | John Appleby |
| Parish Safeguarding Officer | Susan Johnson |
Deanery Synod Representatives
Emma Doran (Deanery Lay Chair) Nicola Denyer John Appleby Elizabeth Hayes
| Elected PCC Members | |
|---|---|
| Vice Chair | Elizabeth Hayes |
| Treasurer | Andrew Potter |
| Patricia Bottrill | |
| Emma Doran | |
| Kate Stobart | |
| Dorothy Clarke | |
| Carole Lax | |
| Pam Miller | |
| Marion Oakes | |
| Cheryl Savage | |
| Jane Walker |
Page i
Numbers on electoral roll:
St Mary Monkseaton 2024 2023 121 118
Structure Governance and Management
The PCC is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC is a Registered Charity.
The method of appointment of PCC members is set out in the Church Representation Rules. The membership of the PCC consists of the incumbent, churchwardens and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services/members 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 decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent.
The PCC is supported by a Standing Committee and six committees focusing on key areas:
Finance Service Planning Group Welcome and integration and Caring Group Building and Resource Group Justice and Peace Safeguarding
The PCC is aware of its duty to have due regard to the House of Bishops' guidance on safeguarding children and vulnerable adults. From 2017 the PCC has used the "Safeguarding Toolkit" provided by the diocese as a way of self-assessment, to seek to ensure it fulfils that duty. The PCC continues to comply with the duty to have "due regard" to the House of Bishops' guidance in relation to safeguarding.
Volunteers
The running of St Mary Monkseaton is reliant on our volunteers. We would like to thank all the volunteers, clergy with 'permission to officiate' and licensed Lay Ministers who support-the parish vision to take the Good News of Jesus Christ to those who choose to hear it and work so hard to make our church the lively and vibrant community it is.
Page ii
Risk Assessment
The PCC regularly review the risks to which the Council might be exposed and recommend action to mitigate these or to manage the risk appropriately. The PCC reviews its Safeguarding and Health and Safety policies on an annual basis. Financial risks are regularly reviewed, and a risk register is in place.
Objectives and Activities
The PCC is committed to being inclusive and enabling as many people as possible to worship at our church and to become part of our parish community. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can be inclusive and involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
When planning our activities for the year, we have considered the Commission's guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:
-
Accessible worship and prayer; learning about the gospel; and developing their knowledge and trust in Jesus.
-
Provision of pastoral care for congregation members and people living in the parish.
-
Missionary and outreach work within the parish. e Working ecumenically
-
Supporting local schools
-
Supporting social justice campaigns.
To facilitate this work, it is important that we maintain the fabric of the church buildings within the parish for community use.
Staff Establishment
Clergy:
The current incumbent is Rev'd Nigel Taylor who is Vicar of St Mary Monkseaton. Assistant Curate, Reverend Claire Lewis
Administration:
The PCC employed a paid Parish Administrator for 15 hours per week until July 2024 when the post was vacated and to this date has not been filled.
St Mary the Virgin Monkseaton PCC has the responsibility of co-operating with the Clergy in promoting ministry and mission in the Parish. It also has maintenance responsibilities for the church buildings.
Each Sunday, two morning services are held at least one of which will be a Eucharistic service. The Eucharist is celebrated every Wednesday morning and on all major festivals.
Social Action
The past 12 months have seen a consolidation of social activity and development of new initiatives. The work with older people with the Dementia Café and OWL’s has continued along with the Toddler group for parents and under 3 year olds. In addition, a youth club has been started and a ‘pop in café’ runs every Thursday morning. The PCC are considering how we move forward with mission in the parish and aim to refresh the Mission Action Plan in 2025.
Page iii
Achievements and Performance
The parish has seen changes in the congregation through 2024. We have sadly lost long standing congregants due to illness and death. Overall however the congregation has grown overall in average Sunday attendance and key seasons of Easter and Christmas have seen good growth in numbers attending. We have developed a new community within the local pub: ‘Church in the Kittiwake’.
| 2024 | 2023 | |
|---|---|---|
| Average SundayAttendance Adult | 105(includingon-line) | 66 |
| Children Attending | 8 | 7 |
| Baptisms | 5 | 11 |
| Funerals | 10 | 10 |
| Weddings | 2 | 2 |
Financial Review
Total receipts on unrestricted funds were £135,393 and are detailed in the financial statements. £132,469 was spent to provide Christian Ministry including the contribution to the diocesan parish share of £80,000 The principal funding sources are voluntary contributions from those attending church in the parish.
Reserves Policy
The PCC reserves policy is reviewed on an annual basis and is based on maintaining 6 months running costs plus a contingency for emergencies. The total free reserves for these purposes should not fall below £30,000
Page iv
DocLEign Emielope10.. 218CF8C&5957461&AEEE-19A7C8813305 Parish of St Mary the Virgin Monkseaton Unaudited Financial Statements 31 December 2024
Docusign Envelope ID.. 21BCF8C6-59$7461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Financial Statements Year ended 31 December 2024 Page Independent examiner's report to the trustee Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial ststements Detailed statement of financial activities 10
Docusign Envelope ID.. 21 BCF8C9s746l EEE-IgA7c88l33D5 Parish of St Mary the Virgin Monkseaton Independent Examiner's Report to the Trustee of Parish of St Mary the Virgin Monkseaton Year ended 31 December 2024 I report on my examination of the financial statements of Parish of St Mary the Virgin Monkseaton for the year ended 31 December 2024. Responsibilities and basis of report As members of the PCC you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in resped of my examination of the charity's financial statements Caled 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 and to be found in the Church Guidance. 2006 edition. issued by the Finance Division of the Archbishops, Council. 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.. accounting records were not kept in respect of the charity as required by stIon 130 of the Act; or the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements conceming th8 fomi 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 examination. I have no concems 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. iloGuSign•d by.. gC399 IF13946 ogg Chartered Accountant Independent Examiner 38 Stanhope Road South Shields NE33 4BT
Docusign Envelope ID: 2l8CF8cs746l&AEEE-l9A7c88l33Ds Parish of St Mary the Virgin Monkseaton Statement of Financial Activities Year ended 31 December 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income resources Voluntary income Activities for generating funds Incoming resources from church activities Investment income 101,354 10,568 101,354 10,568 111.747 20.276 20,889 2,582 20,889 2,582 21,009 2,596 Total income 135,393 135,393 155,628 Expendlture Expenditure on raising funds.. Costs of generating funds Church Activities Support Costs Total expenditure 1,568 122,224 8,677 1,568 122,224 8,677 132,469 8.553 123,893 11.610 132.469 144,056 Net income and net movement in funds 2,924 2,924 11.572 Reconclllatlon of funds Total funds brought forward Total funds carried forward 88,548 4,303 92,851 81.279 91,472 4,303 95,775 92,851 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The note8 on es4108fonn art of thos• financlal Statsments.
Docuslgn Envetope ID.. 21 BCF8C6-5957461 B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Statement of Financial Position Year ended 31 December 2024 2024 2023 Note CUrnt assets Debtors Investments Cash at bank and in hand 1,383 81,306 13,662 1.400 72.569 20,454 10 96,351 94,423 Creditors: amounts falling due within ono year Net Current assets 11 (576) 95,775 {1,572) 92.851 Total assets less current Ilabllftles 95,775 92.851 92,851 Net assets 95.775 Funds of the charity Restricted funds Unrestricted funds 4,303 91,472 4.303 88,548 Total charity funds 12 95,775 92,851 These financial statements were approved by the board of trustees and authorised for issue on 1910312025 and are signed on behalf of the board by: s[ged Docusionedty.. OCE9Efj6E72674T4.. 991EFB8E40994FS... Nigel Taylor Andrew Potter Tho notos on pages 4 to 8 forn part of these financlal statements.
Do¢uslgn Envelope10: 21BCF8C&5957461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements 31 December 2024 Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP {FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterting, which is the functional currency of the entty. Going concern There are no material uncertainties about the PCC'S abilty to continue. Fund accounting Unrestricted funds are available for use at the discretion of the members to further any of the PCC'S purposes. Designated funds are unrestricted funds eamarked by the members for particular future project or Commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tenns of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activtties when entitlement has passed to the church; it is probable that the economic benefits associated with the transaction will flow to the church and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. Collections a recognised by. or on behalf of, th8 PCC. Planned giving receivable under Gift Aid is recognised only when received. Funds raised by the Autumn Fair and similar event5 and by sales are recognised gross. Grants 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 receipt by the PCC is reasonably certain. Income from investments is included in the year in which it is receivable
Docuslgn Envelope ID: 21 B¢F8C9S7461B-AEEE-19A7c88l33D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements Year ended 31 December 2024 Accountlng policie$ (continuedj Resources expended Expenditure is recognised on an accruals basis as a liabilty is inGurred. Expenditure includes any VAT which cann(rt be fully recovered, and is classrfied under headings of the statement of financial activities to which it relates. Grants and donations are accounted for when paid over or when awarded, if that award becomes a binding obligation on the PCC. Tangible fixed assets Consecrated and beneficed property of any kind is excluded from the Financial ststements by S10{2)a of the Charities Act 2011. Moveable Church furnishings held by the Vicar and Churchwardens on special trust for the PCC. and which require a faculty for disposal, are inalienable property listed in the Church's inventory that can be inspected by arrangement. Mi expenditure incurred in the year on consecrated or beneficed buildings is written off in the year of expenditure. The cost of all fixtures, rIng$ or office equipment is written off in the year of acquisition. Voluntary income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Planned giving Income tsx recoverable Donations, appeals and collections Legacies 69,527 14,025 11,949 5,000 69,527 14,025 11,949 5,000 72,654 14,606 12,487 12,000 72,654 14,608 12,487 12,000 100,501 100,501 111,747 111,747 Activities for generating funds Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Autumn Fair GOnrt Series and fundraising events 8.363 2.206 8.363 2.206 6.558 13.718 6,558 13.718 10.569 10,569 20.276 20.276 Incoming resources from church activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Church hall revenue Fees from pastoral services Votive candles 16,701 4,188 16,701 4,188 15,565 5,359 85 15.565 5,359 85 20,889 20,889 21,009 21.009
Dowsign Envelope ID.. 21BCF8C6-5957461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements (continuttdl Year ended 31 December 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest re1vable 2,582 2,582 2,596 2,596 Staff costs The average head count of employees during the year was 1 (2023: Nil). No employee received employee benefits of more than £60.000 during the year (2023: Nil). Member remuneration and •xpens6s No retnuneration or other benefits from employment with the church or a related entity were received by the members. Debtors 2024 2023 Trade debtors Prepayments and accrued income 1,061 322 1.400 1,383 1.400 10. Investrnents 2024 2023 CBFC Mission Opportunities Account CBFC Quinquennial Fund Shared Interest Share Account 51,496 24,795 5,015 81,306 49,556 18,008 5,005 72,569 11. Credltors: amounts falling due within one year 2024 2023 Accruals: Donations payable Independent examiner 996 576 576 576 1,572
Docusign Envelope ID.. 218CF8CPTr5957481 EE-1gA7C88l33D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements {continue(lJ Year ended 31 December 2024 12. Analysis of charftable funds Unrestrlcted funds At 31 December 2024 At 1 January 2024 Income Expenditure Transfers General funds Designated funds: Mission Opportunities fund Quinquennial Fund Shared Interest 20,282 131,575 (131,617) (5.771) 14,469 45,253 18,008 5.005 1.940 1.016 10 47,193 24.795 5.015, 5,771 88,548 134,541 (131.617) 91.472 At 34 December 2023 At 1 January 2023 Income Expenditure Transfers General funds Designated funds: Mission Opportunities fund Quinquennial Fund Shared Interest 29.794 152,888 {142,9%} (19,444) 20.282 27,381 13,696 5,005 2,028 712 15,844 3,600 45,253 18,008 5,005 88,548 75.876 155,628 {142,956) Restricted funds At 31 December 2024 At 1 January 2024 Income Expenditure Servers robes Paschal candles YES booklets Organ appeal Godly Play 131 310 239 2,592 1,031 4,303 131 310 239 2,592 1,031 4,303 At 31 December 2023 At 1 January 2023 Income Expenditure Sounds system improvements Servers robes Paschal candles YES booklets Organ appeal Godly Play 1,100 131 310 239 2,592 1.031 5,403 (1,100) 131 310 239 2,592 1,031 4,303 (1,100)
Docusign Envelope ID.- 21BCF8C&5957461B_AEEE.19A7C88133D5 Parish of St Mary the Viryin Monkseaton Notes to the Financial Ststements (continued) Year ended 31 December 2024 13. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 92,048 (576) 91,472 4,303 96,351 (576) 95,775 4,303 Unrestricted Funds Restricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 90,120 {1,572) 88,548 4,303 94,423 (1,572) 92,851 4,303 14. Charitable Giving 2024 2023 Pakistan Floods Alzheimer's Society The Bay Foodbank Transfer Trade Ecochurch The Children'5 Society PDSA The Bay Foodbank Depaul UK Tearfund British Red Cross 666 667 667 1,020 75 51 61 1,732 1,667 285 1,667 5,463 3,095 From time to time the Parish collects money for a specific purpose or charity and these funds are passed direct to the relevant charity.
Docuslgn Envelope10'. 218CF8C64957461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Management Information Year ended 31 December 2024 The followlng pages do not fomi part of the financial statements.
tlocusign Envelope ID: 21 BCF8C&5957461BAEEE.19A7C88133D5 Parish of St Mary The Virgln Monkseaton Detalled statement of financial activities For th• yèar ended 31 December 2024 2024 2024 2024 2023 Re$lrl¢t¢d Unre$trl¢ted Total Total In¢omlng re$our¢e$ Incoming resources from gènerating funds: Voluntary incom8 Planned giving Income Tax recoverable Lega¢ie5 t)onalions, appeals and collections 69,527 69,527 72.654 14.025 14,025 14.606 5,000 5,000 12.000 12,802 12,802 12.487 101.354 101.354 111.747 Activities forgeneraling fvnds Autumn Fair Conrkrt Series and fundraising events 8,363 8,363 6,558 2 206 2,206 13,718 10.568 10,568 20.276 Investment income Bank interest receivable 2.582 2.582 2.596 Total resources from generating funds 114.504 114,504 134.619 Incoming rasour¢e$ from ¢hurch actlvltles Church hall rgvenue Fees from pastoral $8rvi¢¢s Votiv• ¢andl•s 16,701 16,701 15.565 4,188 4.188 5,359 85 20,889 20,889 21.009 Total incoming rosour¢ 135,393 135.393 155,628 Rgsourc8s oxp8nso5 Costs of generating fund$: Licences Costs of ¢oncert series and fundraisin9 events Autumn Fair expenses 905 905 857 593 593 7,603 70 70 93 1,568 1,568 8,553 Church Activitie8 Donations given Contribution to diocese for ministry and other costs (parish share) Ministry- C19rgy costs Church and church hall running costs Sound system Grounds Project Organ Quinquennial Repairs Cost of pastoral services Music provision Professional fees - Independent examiner Note 14 5,463 5.463 3,095 80,000 80,000 71,000 4.219 4,219 4.551 22,706 22,706 25.790 1.474 1,474 6,595 2.453 138 138 2,370 3.065 3,065 3,689 4.583 4,583 3,774 576 576 576 Totsl church aetivitiè8 èXP8nditur• 122,224 122,224 123,893 Supportcosts Office expenses Totsl Support costs 8677 8677 11.610 8,677 8,677 11.610 Total oxp8nditure 132.469 132,469 144,056 Net incomlng loutgoingl rosour¢•$ for th• y•ar 2,924 2,924 11.572 Tran$f•rn bétseen funds Net movernent for the year 2,924 2,924 11,572 10
DocLEign Emielope10.. 218CF8C&5957461&AEEE-19A7C8813305 Parish of St Mary the Virgin Monkseaton Unaudited Financial Statements 31 December 2024
Docusign Envelope ID.. 21BCF8C6-59$7461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Financial Statements Year ended 31 December 2024 Page Independent examiner's report to the trustee Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial ststements Detailed statement of financial activities 10
Docusign Envelope ID.. 21 BCF8C9s746l EEE-IgA7c88l33D5 Parish of St Mary the Virgin Monkseaton Independent Examiner's Report to the Trustee of Parish of St Mary the Virgin Monkseaton Year ended 31 December 2024 I report on my examination of the financial statements of Parish of St Mary the Virgin Monkseaton for the year ended 31 December 2024. Responsibilities and basis of report As members of the PCC you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act.). I report in resped of my examination of the charity's financial statements Caled 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 and to be found in the Church Guidance. 2006 edition. issued by the Finance Division of the Archbishops, Council. 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.. accounting records were not kept in respect of the charity as required by stIon 130 of the Act; or the financial statements do not accord with those records. or the financial statements do not comply with the applicable requirements conceming th8 fomi 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 examination. I have no concems 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. iloGuSign•d by.. gC399 IF13946 ogg Chartered Accountant Independent Examiner 38 Stanhope Road South Shields NE33 4BT
Docusign Envelope ID: 2l8CF8cs746l&AEEE-l9A7c88l33Ds Parish of St Mary the Virgin Monkseaton Statement of Financial Activities Year ended 31 December 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income resources Voluntary income Activities for generating funds Incoming resources from church activities Investment income 101,354 10,568 101,354 10,568 111.747 20.276 20,889 2,582 20,889 2,582 21,009 2,596 Total income 135,393 135,393 155,628 Expendlture Expenditure on raising funds.. Costs of generating funds Church Activities Support Costs Total expenditure 1,568 122,224 8,677 1,568 122,224 8,677 132,469 8.553 123,893 11.610 132.469 144,056 Net income and net movement in funds 2,924 2,924 11.572 Reconclllatlon of funds Total funds brought forward Total funds carried forward 88,548 4,303 92,851 81.279 91,472 4,303 95,775 92,851 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The note8 on es4108fonn art of thos• financlal Statsments.
Docuslgn Envetope ID.. 21 BCF8C6-5957461 B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Statement of Financial Position Year ended 31 December 2024 2024 2023 Note CUrnt assets Debtors Investments Cash at bank and in hand 1,383 81,306 13,662 1.400 72.569 20,454 10 96,351 94,423 Creditors: amounts falling due within ono year Net Current assets 11 (576) 95,775 {1,572) 92.851 Total assets less current Ilabllftles 95,775 92.851 92,851 Net assets 95.775 Funds of the charity Restricted funds Unrestricted funds 4,303 91,472 4.303 88,548 Total charity funds 12 95,775 92,851 These financial statements were approved by the board of trustees and authorised for issue on 1910312025 and are signed on behalf of the board by: s[ged Docusionedty.. OCE9Efj6E72674T4.. 991EFB8E40994FS... Nigel Taylor Andrew Potter Tho notos on pages 4 to 8 forn part of these financlal statements.
Do¢uslgn Envelope10: 21BCF8C&5957461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements 31 December 2024 Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP {FRS 102)) and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterting, which is the functional currency of the entty. Going concern There are no material uncertainties about the PCC'S abilty to continue. Fund accounting Unrestricted funds are available for use at the discretion of the members to further any of the PCC'S purposes. Designated funds are unrestricted funds eamarked by the members for particular future project or Commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tenns of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activtties when entitlement has passed to the church; it is probable that the economic benefits associated with the transaction will flow to the church and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. Collections a recognised by. or on behalf of, th8 PCC. Planned giving receivable under Gift Aid is recognised only when received. Funds raised by the Autumn Fair and similar event5 and by sales are recognised gross. Grants 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 receipt by the PCC is reasonably certain. Income from investments is included in the year in which it is receivable
Docuslgn Envelope ID: 21 B¢F8C9S7461B-AEEE-19A7c88l33D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements Year ended 31 December 2024 Accountlng policie$ (continuedj Resources expended Expenditure is recognised on an accruals basis as a liabilty is inGurred. Expenditure includes any VAT which cann(rt be fully recovered, and is classrfied under headings of the statement of financial activities to which it relates. Grants and donations are accounted for when paid over or when awarded, if that award becomes a binding obligation on the PCC. Tangible fixed assets Consecrated and beneficed property of any kind is excluded from the Financial ststements by S10{2)a of the Charities Act 2011. Moveable Church furnishings held by the Vicar and Churchwardens on special trust for the PCC. and which require a faculty for disposal, are inalienable property listed in the Church's inventory that can be inspected by arrangement. Mi expenditure incurred in the year on consecrated or beneficed buildings is written off in the year of expenditure. The cost of all fixtures, rIng$ or office equipment is written off in the year of acquisition. Voluntary income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donatlons Planned giving Income tsx recoverable Donations, appeals and collections Legacies 69,527 14,025 11,949 5,000 69,527 14,025 11,949 5,000 72,654 14,606 12,487 12,000 72,654 14,608 12,487 12,000 100,501 100,501 111,747 111,747 Activities for generating funds Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Autumn Fair GOnrt Series and fundraising events 8.363 2.206 8.363 2.206 6.558 13.718 6,558 13.718 10.569 10,569 20.276 20.276 Incoming resources from church activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Church hall revenue Fees from pastoral services Votive candles 16,701 4,188 16,701 4,188 15,565 5,359 85 15.565 5,359 85 20,889 20,889 21,009 21.009
Dowsign Envelope ID.. 21BCF8C6-5957461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements (continuttdl Year ended 31 December 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest re1vable 2,582 2,582 2,596 2,596 Staff costs The average head count of employees during the year was 1 (2023: Nil). No employee received employee benefits of more than £60.000 during the year (2023: Nil). Member remuneration and •xpens6s No retnuneration or other benefits from employment with the church or a related entity were received by the members. Debtors 2024 2023 Trade debtors Prepayments and accrued income 1,061 322 1.400 1,383 1.400 10. Investrnents 2024 2023 CBFC Mission Opportunities Account CBFC Quinquennial Fund Shared Interest Share Account 51,496 24,795 5,015 81,306 49,556 18,008 5,005 72,569 11. Credltors: amounts falling due within one year 2024 2023 Accruals: Donations payable Independent examiner 996 576 576 576 1,572
Docusign Envelope ID.. 218CF8CPTr5957481 EE-1gA7C88l33D5 Parish of St Mary the Virgin Monkseaton Notes to the Financial Statements {continue(lJ Year ended 31 December 2024 12. Analysis of charftable funds Unrestrlcted funds At 31 December 2024 At 1 January 2024 Income Expenditure Transfers General funds Designated funds: Mission Opportunities fund Quinquennial Fund Shared Interest 20,282 131,575 (131,617) (5.771) 14,469 45,253 18,008 5.005 1.940 1.016 10 47,193 24.795 5.015, 5,771 88,548 134,541 (131.617) 91.472 At 34 December 2023 At 1 January 2023 Income Expenditure Transfers General funds Designated funds: Mission Opportunities fund Quinquennial Fund Shared Interest 29.794 152,888 {142,9%} (19,444) 20.282 27,381 13,696 5,005 2,028 712 15,844 3,600 45,253 18,008 5,005 88,548 75.876 155,628 {142,956) Restricted funds At 31 December 2024 At 1 January 2024 Income Expenditure Servers robes Paschal candles YES booklets Organ appeal Godly Play 131 310 239 2,592 1,031 4,303 131 310 239 2,592 1,031 4,303 At 31 December 2023 At 1 January 2023 Income Expenditure Sounds system improvements Servers robes Paschal candles YES booklets Organ appeal Godly Play 1,100 131 310 239 2,592 1.031 5,403 (1,100) 131 310 239 2,592 1,031 4,303 (1,100)
Docusign Envelope ID.- 21BCF8C&5957461B_AEEE.19A7C88133D5 Parish of St Mary the Viryin Monkseaton Notes to the Financial Ststements (continued) Year ended 31 December 2024 13. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Current assets Creditors less than 1 year Net assets 92,048 (576) 91,472 4,303 96,351 (576) 95,775 4,303 Unrestricted Funds Restricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 90,120 {1,572) 88,548 4,303 94,423 (1,572) 92,851 4,303 14. Charitable Giving 2024 2023 Pakistan Floods Alzheimer's Society The Bay Foodbank Transfer Trade Ecochurch The Children'5 Society PDSA The Bay Foodbank Depaul UK Tearfund British Red Cross 666 667 667 1,020 75 51 61 1,732 1,667 285 1,667 5,463 3,095 From time to time the Parish collects money for a specific purpose or charity and these funds are passed direct to the relevant charity.
Docuslgn Envelope10'. 218CF8C64957461B-AEEE-19A7C88133D5 Parish of St Mary the Virgin Monkseaton Management Information Year ended 31 December 2024 The followlng pages do not fomi part of the financial statements.
tlocusign Envelope ID: 21 BCF8C&5957461BAEEE.19A7C88133D5 Parish of St Mary The Virgln Monkseaton Detalled statement of financial activities For th• yèar ended 31 December 2024 2024 2024 2024 2023 Re$lrl¢t¢d Unre$trl¢ted Total Total In¢omlng re$our¢e$ Incoming resources from gènerating funds: Voluntary incom8 Planned giving Income Tax recoverable Lega¢ie5 t)onalions, appeals and collections 69,527 69,527 72.654 14.025 14,025 14.606 5,000 5,000 12.000 12,802 12,802 12.487 101.354 101.354 111.747 Activities forgeneraling fvnds Autumn Fair Conrkrt Series and fundraising events 8,363 8,363 6,558 2 206 2,206 13,718 10.568 10,568 20.276 Investment income Bank interest receivable 2.582 2.582 2.596 Total resources from generating funds 114.504 114,504 134.619 Incoming rasour¢e$ from ¢hurch actlvltles Church hall rgvenue Fees from pastoral $8rvi¢¢s Votiv• ¢andl•s 16,701 16,701 15.565 4,188 4.188 5,359 85 20,889 20,889 21.009 Total incoming rosour¢ 135,393 135.393 155,628 Rgsourc8s oxp8nso5 Costs of generating fund$: Licences Costs of ¢oncert series and fundraisin9 events Autumn Fair expenses 905 905 857 593 593 7,603 70 70 93 1,568 1,568 8,553 Church Activitie8 Donations given Contribution to diocese for ministry and other costs (parish share) Ministry- C19rgy costs Church and church hall running costs Sound system Grounds Project Organ Quinquennial Repairs Cost of pastoral services Music provision Professional fees - Independent examiner Note 14 5,463 5.463 3,095 80,000 80,000 71,000 4.219 4,219 4.551 22,706 22,706 25.790 1.474 1,474 6,595 2.453 138 138 2,370 3.065 3,065 3,689 4.583 4,583 3,774 576 576 576 Totsl church aetivitiè8 èXP8nditur• 122,224 122,224 123,893 Supportcosts Office expenses Totsl Support costs 8677 8677 11.610 8,677 8,677 11.610 Total oxp8nditure 132.469 132,469 144,056 Net incomlng loutgoingl rosour¢•$ for th• y•ar 2,924 2,924 11.572 Tran$f•rn bétseen funds Net movernent for the year 2,924 2,924 11,572 10