Charity Number 1132444 HEXHAM ABBEY HERITAGE WORSHIP . COMMiINITY THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF HEXHAM ABBEY REPORT OF THE MEMBERS OF THE PCC AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Contents Page Referen and Administrative Details of the Charity, its Members and Advisers Report of the PCC Members 5-10 Independent Auditorfs Report 11-13 Consolidated Statement of Financial Activities 14 PCC Statement of Financial Activities 15 Consolidated Balance Sheet 16 PCC Balance Sheet 17 Consolidated Cash Flow Statement 18 Notes to the Financial Statements 1948
The Parochlal Church Council of the Ecclesiastical Parish of Hexham Abbey Reference and Administrative Detslls of the Charity. its Membeys and Advlsors PCC Membership Incumbent: The Revd Canon David Glover Assistsnt Curates: The Revd Dr Henry Hope {to 23 June 2024) The Revd Abigail Harris (from 30 June 2024) PCC Lay Chair. Mrs Helen Milner MBE (until APCM 2024) Mr J Malcolm Thompson (from APCM 2024) Churchwardens: Mrs Helen Milner MBE (until APCM 2024) Mr Ri¢hard Thomton (re-elected APCM 2024) Mr Malcolm Thompson {r&elected APCM 2024) Mrs Vivien Drydon (re-elected APCM 2024) Mrs Wendy Nott (rele¢ted APCM 2024) Ms Lynne Thomson (elected APCM 2024) Representatives on Hexham Deanery Synod {servlng a thretryear temi. 2023-2026): Ms Carol Wilson (elected APCM 2023) Mr John Mitchell (elected APCM 2023) Mts Linda Rowell (elected APCM 2023) Elected Members: Mr Steve Brown (elected APCM 2022) Mr Tony May (r&elected APCM 2024) Ms Lynne Thomson (re-elected APCM 2021" elected Churchwarden APCM 2024) Mrs Fiona Finnon {relected APCM 2023) Mrs Caroline Jackson {until APCM 2024) Mrs Jane Pikett- PCC Secretary (elected APCM 2023) Mrs Rachael Haywood-smilh {ele¢ted APCM 2023) Mr Christopher Hewitt - PCC Treasurer {elected APCM 2024) Charity registered number 1132444 Page 3
The Parochial Church Council of the Ecclesiastlcal Parish of Hexham Abbey Reference and Administrative Details of the Charity, its Members and Advisoys (contd) Principal Office Hexham Abbey Parish Centre Beaumont Street Hexham Northumberfand NE46 3NB Independent Auditor Dodd & Co Audit Limited FIFTEEN Rosehill Montgomery Way Rosehill Eslate CARLISLE CA12RW Bankers Barclays Bank pl Priestpopple Hexham Northumberland NE46 1PE CAF Bank Limited 25 Kings Hill Avenue Kings Hill WEST MALLING Kent ME19 4JQ Page 4
The Parochlal Church Council of the Ecclesiastical Parish of Hexham Abbey Report of the PCC Members for the Year Ended 31 Dècember 2024 The Parochial Church Council (the PCC) submits its annual report and the audited financial statements of the Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey (the charity) for the year ended 31 Dember 2024. The PCC confirms that the annual report and financial statements have been prepared in accordance with the accounting poliGies set out in the notes to the accounts and comply with the charity's governing document, the Charities Act 2011 as amended by the Charities Acl 2022 and Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable lo charilies preparing their accounts in accordance with Ihe Financial Reporting Slandard applicable in the UK and Republic of Ireland. The financial stalemenls of Hexham Abbey Ttading Ltd. as a subsidiary undertaking, are consolidated into the PCC'S accounts in accordance with the provisions of the SORP. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution The PCC is a corporale body established by the Church of England. The PCC operales under the Parochial Church Councils {Powers) Measure 1956 as amended. Having annual gross income of over £100,000. the PCC is registered wilh the Charity Commission. as requid. The prtncipal object of the charity is the promotion of the gospel of Jesus Christ according to the doctTine5 and pradices of the Church of England and through service to the wider community. Method of appointment or olection of member8 Th8 appointment of PCC members is governed and set out in the Church Representalion Rules. The PCC comprises 17 members {2 clergy. 5 Churchward8ns, 3 Deanery Synod Representatives, 7 elected rnembers. Policles adopted for the induction and tralning of members New PCC membars are given a copy of the PCC'S policies, told about diocesan training events, and are supported in their understanding of the work of thè PCC by the Rector and Lay Chair. Every new PCC member undergoes a DBS check and Safeguarding training. Organi3atlonal structure and decision making The PCC has an agre8d govemance policy detailing where decisions can be made by Su¢0mMittees, Standing Committee, PCC or the Rector. The day to day management of the Abbey is delegated to the Re¢tor and Slanding Committee. Sub-committees work under the vision and mission of the Abbey and the overall direction of the Rector. Churchwardens and PCC. They undertake areas of work on the PCC'S behalf and report back to the PCC to whom they are responsible. The chair and members of each SUb0mMittee are appointed by the PCC. The sub-committees can co-opt additional members for specific tasks during the course af the year. Each SUE committee has at least one member of the PCC. In 2024, in addition to the Standing Committee, the PCC had the following 3 committees.. Property Committee, Finance Committee and Safeguarding Committee. In addition. the PCC had the following working groups= Christmas Fair Group. Conservation Advisory Group. 1350th Planning Group. The PCC is the sole shareholder of Hexham Abbey Trading Ltd (HATL), a company which is responsible for the operation of the Refectory Cafe and the lelling of rooms in the Priory Buildings, as well as the Abbey Shop, which it manages in its existing premises alongside the Abbey. 11 operates on a COTnmercial basis and makes qualifying Gharitable donations to the PCC equivalent to its entire net profit, thus reducing its coipotation tax liability to nil. Page S
The Parochial ChurGh Council of tho Ecclesiastical Parlsh of Hexham Abbey Report of the PCC Members for the Year Endèd 31 December 2024 (contd) Risk management An analysis of existing controls to minimise the major risks to which the PCC is exposed has been undertaken and controls are reviewed on a regLJlar basis. OBJECTIVES AND ACTIVITIES Policies and objectives The PCC works with the incumbent, the Rev'd Canon David Glover in promoting, in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecurnenical. It is committed to enabling as many people as possible to worship at Hexham Abbey and to become part of the church community. The PCC is also committed to ensuring that on-line worship is available for those unable to access in-person worship and this has been widely used. The PCC ha5 contact, through its database, with many more individuals who see themselves as connected with the lrfe of the Abbey and it keeps in regular contact with them. The PCC maintains an oveNiew of worship at the Abbey and makes suggestions about how seNices and outreach setve the needs of people who live in the parish and the wider area. When planning its activities for the year, the PCC has considered the Charity Commission's guidance on public benefit and, in particular, the specrfic guidance on charities for the advanGement of religion. In particular, it tries to enable ordinary people to live OLrt their faith as part of Ihe Abbey's parish community through its Vision-. of a worfd where God's love is enjoyed, celebrated and shared. Its Mission Action Plan states that. inspired by Andrew, Wilfrid and Etheldreda, we seek to grow in breadth and numbers, in faith and learning, in prayer and generosity. To facilitate this worf(, the PCC maintains the fabric of the Abbey, the Parish Centre and the Priory Buildings (Carnaby Building and former Magistrates, Court Building) and adjoining land. It also employs a number of staff and enjoys the seNice of over one hundred and seventy volunteers. Going concem After making appropriate enquiriès, reviewing the PCC foreGasts and projections for the next twelve months show that the charity expects to continue in operational existence for that period. Grant maklng policies Helping those in need is a demonstration of the Christian faith. The PCC has a policy for choosing the charities it supports, to which it gives 5 /0 of the income it receives from planned gimng. Page 6
The Parochlal Church Council of the Eccleslastical Parlsh of Hexham Abbey Report of the PCC Members for the Year Ended 31 December 2024 {contd) Safeguarding On behalf of the PCC, the Safeguarding Committee keeps constantly abreast of developments in Church of England and Diocesan safeguarding policies and practi$ and implements them accordingly. ACHIEVEMENTS AND PERFORMANCE Statlstl¢s 2024 {2023 284 (283) people on the Church EleGtoral Roll 221 (279) communicants on Easter Eve and Easter Day 384 {437) total 8ttending services on Easter Eve and Easter Day 2635 (1875) at special Advent services for congregation and local community 2154 (1280) at special Advent services for schools or civic organisations 380 {269) communicants on Christmas Eve and Christmas Day 1088 (901) total attending seiS on Christmas Eve and Christmas Day 19 (11) baptisms conducted 10 {10) couples married in church 33 (44) funerals were conducted, of 1th 22 {27) wer8 held in the Abbey 0 (13) people were confirined. There is no obvious reason why Easter attendance was lower in 2024 than in 2023. There was a further increase in attendancES in services during Advent 2024, This was partly because more SeNiS were organised for the local Community, induding a Lord Lieutenancy Carol service and dement181neuro- divergenw seNices. It was also necessary to hold an additional Abbey Christmas Carol se1, lch reflects the increased reach of the Abbey, lch is probably as a result of people engaging wth its commercial activities, and especially ConrtS. In October the average attendance in church, each week, for all regular seNices was 215 (21n adults and 44 (44) children. In addition to this approximately 20 (20) people joined in October on-line services. In addition to Servi$. about 45 people have taken part in GI groups which met regularfy for prayer, study and fellowship, and regular Holy Communion SeNiS have been held in care homes. About 18 people take part in the weekly Christian meditation group and a similar number attend the Poetry and Faith Group in Lent and Advent. The Mothers, Union, though small, has continued to see steady growth and meets regularly. Review of activities Hexham Abbey's mission is promoted through the work of the PCC and its committees, the ongoing life of the Church, and with the support of the Abbels staff team. There are also many people tho volunteer to undertake many different and varied tasks to support the mission, ministry and commercial life of the Abbey, for which the PCC is very grateful. Volunteers have made a huge contribution to the success of the AbbeS many activities, and thOut volunteers most of the adivities of the Abbey would be impossible to deliver. Music Under the leadership of Michael Haynes, Director of Music, music has flourished during 2024. The Choir has continued to see recruitment in all volts parts, but particularly in its treble line (although it must be recognised that this is a constsntly demanding task and that recruitment of boy trebles is increasingly challenging although the Abbey outperfonns national trends in this regard). Throughout the year th8 choir enabled a full programme of choral services and during term time sang at 4 services each week. As well as its huge contribution to Sunday worship and twce weekly Choral Evensongs, the choir has contributed to a number of other significant events. including 4 very well attended Christmas Carol SeNIS. Mrs Cath Newson continues to provide logistical and social support to enhance the welfare and overall experience of the children in the choir. She is ably supported by an excellent team of chaperones and by the Curate. During 2024 the Abbey hosted the Three Choirs, Festival and the choir had a very successful and enjoyable summer tour to North Yorkshire, basing itself at Helmsley Youth Hostel and singing in Harrogate, Helmsley and Bridlington. The PCC continues to see the supporting of music as a top priority and in 2024 took the decision to appoint an Assistant Director of Musi¢. After a thorough interview process Mr Matthew Kelly was appointed and takes up his post in Holy Week 2025. Page 7
The Parochial chUh Councll of the Eceleslastlcal Parish of Hexham Abbey Report of the PCC Members for the Year Ended 31 Docamber 20241contd) Young People The Abbey has continued to develop and support its work amongst children and young people, made possible by a devoted team of volunteers. Support for choristers has been a priority and has been aided by an excellent team of chaperones. Alongside services and rehearsals there have been a number of social activities. Abbey Tots Praise and Messy Church continued successfully during the year. The Sunday Moming Cloistei Club continued but would still benefit from more volunteers and remains quite fragile. This is a group for older children, meeting on Sunday momings. and has produced a very attractive and popular series of publications aimed at key stage 2 and 3 children. The PCC recognises its work with children and young people as crucial to the mission of the Abbey and is committed to seeing it flourish. The Abbey played a full role in supporting Hexham Holiday Club, offering both clergy and lay volunteers and hosting a junior leaders, event in the Abbey. It asso gave financial support. on again. this year, there have been some excellent children's holiday activities organised by Cath Newson who. alongside her work as Fundraiser. has continued as the Abbey's Communty Engagement Manager. This has induded further work with schools and further developing and delivering the Abbey's offer for educational sits. During 2024 Ihere continued to be a significant number of schools visiting the Abbey for educational sits. The clergy have continued to take assemblies in the Sele School, Hexham First School and the Middle School and all three schools have attended the Abbey for servi5 and events. The Abbey has also continued to run a weekly luncFFtime club at Hexham Middle Sthool which engages with 60- 80 sludents. Pastoral Work and Fellowship Abbey teams continue to visit nursing homes and Holy Communion is provided to residents. The dergy visit those in hospital and the Abbey Bereavement Team has continued to support a regular Memorial servi and organises a Bereavement Coffee Morning in the week following th8 service. A Poety and Faith group meets during Lent and Advenl. The weekly Pew Sheet continues to offer excellent communication to members of the congregation and olhers. During 2024 the Abbey ran a successful GIFT programme enabling people to meet together in small groups for fellowship, bible study and leaming. Space continued to be made available in the Abbey as a 'warm hub, for families and this has been well used. The Abbey interacts with numerous individuals with specific and, sometimes, challenging, needs and attempts to assist them or signpost Ihem lo relevanl support. Local Communlty Outreach We continue to nurture supportive relationships with the Church and Community Partnership, Wèst Northumberland Food Bank, Northumberland Domestic Abuse seICe, the Hexham Community Partnérship, and other projects within the Hexham area. The PCC has continued to be keen to forge closer relationships with the Town Council and to engage fully in shared initiatives which benefit the wider community. The Abbey also has strong links with the Northumberland Lord Lieutenan¢y, Northumberland County Council and a number of other local and regional organisations and has held a number of specyal seNices as a result of its County and regional links. Major Events 2024 marked the Abbey's 1350th anniversary and was a significant year in terms of events and celebrations. Particular highlights included an opening weekend with a Festival of Flame and Festival Eucharist, the recording of the BBC'S Gardeners, Wortd and Any Questions. an open air festival on St Elheldreda's day. the continuation of a wonderful organ series celebrating the Phelps at 50, numerous olher concerts, a special series of 10 minute talks lebrating the Abbels heritage. and a very Sucsful Flower Festival on the theme of the Northem Saints in which many organisations from around the County took part. The Abbey also held a very well atlended Christmas Fair and supported a number of events in the lead up to Christmas which included a Lord Lieutenancy Carol Service which drew people from across the region. Charitable Giving The Abbey cxyntinues lo allocate 5°A of its Planned Giving to charities. In addition to supporting the Hexham Holiday Club, the bulk ofthe remainder went to the following charities: £1100 NDAS; £500 WERS; £1100 West Northumberland Foodbank" £750 St Paul's Children's Project., £750 SEDCU" £400 The Children's Society,. £400 Diocesan Botswana Link. Page 8
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Report of the PCC Members for thè Year Ended 31 December 2024 (contd) Major Grants In 2024 the Abbey b8n8fitted from grants totalling £32,845. In addition to this the Abbey received £23,0 from the Mercers, Company which has been granted each year and for which the PCC is very grateful. Stsff News In June 2024 our assistant curate, the Revd Dr Henry Hope, left the Abbey to take up a new post in Leek in the Diocese of Lichfield. At the end of June, the Rev'd Abigail Ha1$ arrived at the Abbey as our new assistant curate. The verger department has undergone a number of staff changes including the retirement of Ed Clarf( and the appointment of Peter Lunt and Sarah Faye, alongside a number of relief vergers. Some amendments were made to verger hours in order to ensure more flexible cover. Matthew Kelly was appointed to the position of Assistsnt Director of Music, and takes up his post in April 2025. Other developments Following the departure of the Rev'd Dr Henry Hope, the PCC decided to sell the house it owns in Robson Drive, Hexham. It duly received and acpted an offer for the property. However, due to some structural issues the sale has been put on hold until the insurers resolve the issues. Following a set-back in its HLF bid to restore the Abbey's painted panels the PCC has been working on a revised bid for submission in 2025, and following the success of the Museum of the Moon, th8 PCC committed to holding a Gaia Exhibition in 2025. FINANCIAL REVIEW Following successive years of deficits, and a net cumulative loss of over £500k since 2019, the PCC continued to focus on financial management and seeking ways of improving the longer-term viability of the Abbey, for ils core mission and SeiCe to the wider community. The "once in a lifetime" 1.350th Anniversary provided an opportunity to hold celebrations and events which further utilised the facilities and resources available, and after a successful Flower Festival, Organ Recital series and Christmas services, among others. finished the year in modest surplus. This was heartening as the budgel for the coming year didn't allow for similar anniversary event5, and with the rnuch discussed Employers, National Insurance tax changes, and recent limitations to the LPW grant scheme, a retum to deficit is expected for 2025. Notwithstanding this, the PCC continues to explore opportunities to develop the range of activities on the Abbey premises, in an appropriate manner, for the avoidance of further substantial shortfalls. Main Sources of Funds The PCC relies heavily on support, gifts and donations récelved from its congregation, benefactors, visitors and fund-raising events for which it is deeply grateful. During 2024 the PCC, togethar with HATL. hosted a number of successful events including the Northem Sainls, Flower Festival. the Phelps at 50 Organ Recital series, a Christmas fair and various other music events, both sacred and secular. Perfomiance for the year The PCC'S Consolidated Accounts incorporating the results of HATL show a surplus for the year of £47,044, with income being largely unchanged at £1.24m, while expendilure dropped nearly £80k, largely due to a significant dUctiOn in depreciation charged. The PCC'S consolidated designated funds stand at £2,202,296 whi¢h indudes £1,707,726 in fixed assets. At the end of the yèar the PCC'S general unrestricted fund stood at £791,138 and the free reseNes stand at £1,276,871 at the year end, including designated funds. Reserves and Investsnent Pollcles The PCC has no intention of building up large reserves. Bul il's record of recent deficits are a sobering reminder of the risks that the PCC faGes, no1lthS1andIng anticipated deficit5 in the immediate future, and substantial repair and development expenditures for a building of this kind. The fall off in the depreciation charge underlines the age of some of the assets that Ihe Abbey is using.. refurbishment of the lighting system is currently being considered, at some considerable expense, while a recent fall of stonework from the tower reminds us that tha maintenance of such an asset is on-going and costly. The Reserves and Investment Policies are regulady reviewed. Page 9
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The Parochial Church Council of the Eccleslastical Parish of Hexham Abbey Independont Audltorfs Report to the Members of the Parochial Church Council of the E¢¢lesiastical Parlsh of Hexham Abbey for the year ended 31 December 2024 Opinlon We have audited the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey (the 'ChariV) for the year ended 31 December 2024 which comprise Consolidated Ststement of Financial Activities, Including Income and expenditure account, Chanty Statement of Financ4al Activities, Consolidated Balance Sheet, Charity Balance Sheet, Consolidated Cash Flow Slatement and Ihe related notes, induding a summary of si in their preparation is app nificant accountin9 policies. The financial re orting framework that has been applied icable law and United Kingdom Accounting tandards. including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practi). In our opinion, the financial statements: give a true and fair view of the slale of the group's and parent charitys affairs as at 31 December 2024 and of the group's incoming resources and application of resources for the year then ended., have been properly prepared in acwrdance with United Kingdom Generall Accepted Accounting Practice,. have been prepared in accordance with the requirements of the Charities t2011. Basls for opinion We conducted our audit in accordan with International Standards on Auditing (UK) {ISAs {UK)> and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevanl to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and the provisions available for small entities, in the circumstances set out in note [1] to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing Ihe financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial ststements is appropriate. Based on the work we have performed, we have not identified any material uncertainlies relating to events or conditions that, individually or collectively, may casl significant doubt on Ihe CoMpanS abilily to continue as a oing concem for a period of at least Iwelve months from when the original financial statements were authonsed or issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other information The trustees are responsible for the other infomation. The olher information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. Our opinion on the financtal statemenls does not cover the other information and, except to the extent othenlSe explicitly stated In our report, we do not express any form of assurance conclusion thereon. In connedion with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other infomiation is malerially inconsistent with the financial statements or our knowledge oblained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whelher there Is a material misstatement in the financial ststements or a material misstatement of the other infomation. If, based on the work we have perfomed, we conclude that there is a material misstatement of this other infomialion, we are required to report that fact. We have nothing to report in this regard. Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misststements in the Trustees, Annual Report. Page 11
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Independent Auditors Report to the Memberd of the Parochial Church Council of the Ecclèslastical Parish of Hexham Abbey forthe year ended 31 Dacamber 2024 Wè have nothing to report in respect of the following matters in relalion to which the Charities Act 2011 requires us to report to you if. in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from brdnches not visited by us., - the financial statetnents are not in agreement with the accounting records and retums., certain disclosures of Irustees, remuneration specified by law are not made., or we have not obtsined all the information and explanations necessary for the purposes of our audit. Responsibilities of the trustees explained more fully in the trustees. responsibilities statement. Ihe trustees are responsible for the preparation of the financial statemenls and for being satisfied that they give a true and fair view. and for such intemal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slatements. the trustees are responsible for assessing the Charity's ability to continue as a going concem, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidale the Charity or to cease operations, or have no realistic allernative but lo do so. Our responsibilities for the audit of the flnancial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assuran, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A fvrther descriplion of our responsibilities for the audit of the finanaal statements is located on the Financial Reporting Council's website at.. [w.frc.or9.k/audl1orSreSpOnSIbl11tieSl. This description fomis part of our auditorfs report. We identtfy and assess the risks of material misstatement of the financial statements, whether due to fraud or error. and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following= the naturè of the industry and sector, control environment and business performance including the design of the charity's remuneration policies, key dtivers for directors, remuneration. bonus levels and performance targets., results of our enquiries of management about their own identification and assessment of the risks of irregularities. any matters we identified having obtained and reviewed the charity's documentation of Iheir policies and prOdureS relating to.. identifying, evaluating and complying with laws and regulalions and whether they were aware of any inslances of non-compliance., deteGting and responding lo the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud. - the internal controls established to miligate risks of fraud or non-compliance with laws and regulations Page 12
The Parochlal Church Council of the Eeclesiaslical Parish of Hexham Abbey Independent Audltoff8 Report to tho Members of the Parochial Church Council of th8 Eccle8iaslical Parlsh of Hexham Abbey for the year ended 31 Dacember 2024 As a result of these procedures, we considered the opportunities and incentwes that may est within the organisation for fraud and identrfied the greatest potential for fraud to be in relation to management override which. in common with all audits under ISAS (UK), we are required lo perfomi specific procedures to respond lo tt)is risk We also obtsined an understsnding of the legal and regulatory framework that the charity operates in. focusing on provisions of those laws and regulations that had a direct effect on the determination of maleri81 amounts and disclosures in the financial ststements. The key laws and regulations we considered in this cnteXt included the UK Charities Act and pensions legislation. In addition. we considered provisions of other laws and regulations that do not have a dired effecj on the financial statements bul complianc* wth which may be fundamentsl to the chaiity's abilty to operate or to avoid a material penalty. The key18ws and regulations we considered in this context related to the Health and Safety Act As a result of perfomiing Ihe above. in response to the risks identified, we did not identify any key audit matters related to the potential risk of fraud or non-complian with laws and regulations. In addition to the above, our prOdureS to respond to risks identified induded the followng: reviewng the financial statement disclosures and testing to supporting documentation to assess compliance wilh provisions of relevant laws and regulations described as having a direct effect on the fin8rsaal statements,. ' enquiring of managernenl conceming actual and potentl81 liligation and claims. perfomiing analytscal procedures to identrfy any unusual or unexpecled relationships that may indicate risks of material misststement due to fraud., reading minutes of meetings of those charged with govemance and in addressing the risk of fraud through management override of controls, testing the approprialeness of journal entries and other adjustments., assessing whether the judgements made in making accounting estimates are indicative of a potential bias,. and evaluating the business rationale of any significant transactions that are unusual or outside the nomal course of busin6s$. We atso communicated relevant identffied laws and regulations and potential fraud risks to all engagement team members, and remained alert lo any indications of fraud or non<ompliance wth laws and regulations throughout the audiL Use of this report This report is made solely to the Charitys trusÈes, as a body, in aCCrdancE section 151 of the Charities Act 2011 and the regulations made under section 154 of that Ad. Our audit woll( has been undertaken so that we might slate to the Charity's trustees those matters we are required to state to them in an audito¢s report and for no other purpose. To the fullest extent permitted by law. we do not apt or assume responsibility to anyone other than the Charitvs trustees as body. for our audit worf(. tor this fEPOrt, or the opinions we have formed. baj, c. AJ,/ I-AJ Dodd & Co Audit Limited, Statutory Auditors FIFTEEN Rosehill Montgomery Way Rosehill Estate CARLISLE CA12RW Date.. Dodd & Co Audit Limited is eligible to act as an auditor in temis of section 1212 of the Companies Act 2006. Page 13
The Parochial Church Council of the EcClesiasCaJ Parish of Hexham Abbey Consolidated Statement of Financial ActSvities (incorporating income and expendituré account) for the Yoar Ended 31 December 2024 Restiicted Unrestricted funds funds 2024 2024 Note Total funds 2024 Total funds 2023 Income from: Donations and Legacies Trading Activities Investments Charitable activities Other Income 47,035 316,208 788,127 26,745 7,429 40,269 363,243 788,127 26,745 7,429 51,348 379,682 782,936 25.211 8,308 48,321 11,079 Total 58,114 1,178,778 1,236,892 1,244,458 Expendlture on: Raising funds Charitable activities Other Expenditure 612,634 504,893 612,634 540,114 37,100 583,620 652,622 32,164 35,221 37,100 11 72,321 1,117,527 1,189,848 1,268,406 Net incomel{expenditurel 14,207 61,251 47,044 23,948 Transfers between funds 2,786 (2,786) Other recognised gainsl{lossesl Gainsl{losses) on revaluation of fixed assets 150,000 150,000 Net movement in funds 11,421 208,465 197,044 23,948) Reconciliation of funds: Total funds brought forward 63,620 2,784,969 2,848,589 2,872,537 Total funds carried forward 52,199 2,993,434 3,045,633 2.848,589 P3ge 14
The Parochial Chur¢h Council of the Ecclesiastical Parlsh of Hexham AbY PCC Only Ststement of Flnancial Acllvlties (incorporating income and expenditure account) for the Year Ended 31 December 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Income from: Donations and LegaeS Trading Activities Investments Chaiitable activities Other Int)Jme 47,035 410,556 105,669 25,426 7,429 40,269 457,591 105,669 25,426 7,429 51,348 515.686 71,052 25,211 8,308 48,321 11.079 Total 58,114 589,349 647,463 668,578 Expenditurè on: Raising funds Chaiitable activities Other Expenditure 26,109 498,521 26,109 533,742 37,100 15,902 647,690 32,164 35,221 37,100 72,321 524,630 596,951 695. 756 Net incomel(expenditure) 14,207 64,719 50.512 27.178 TransfeT8 between funds 2.786 (2,786) Other recognised gainsl{losses): Gainsl{losses) on revalualion of fixed assets 150,000 150,000 Net movwnent in funds 11,421 211,933 200.512 7,178 Reconciliation of funds: Total funds brought forward 63.620 2,767,730 2.831,350 2,858,528 Total funds carried forward 52,199 2,979,663 3,031,862 2,831,350 Page 15
13 14 16 111. 1.60& 10T,795 i.&M6C¥) 2T4t 1.9a7.39S 1.71($63 17 18 425,1 .162 1A20.n6 971.173 19 1.,3AOTO 1045.633 Z844589 NET ASSET8 199 61620 Z784. TOTAL PJND P4e16
13 14 15 16 101567 94131 1,19)4.PA 275,IXI) 1014424 1.747.th1 17 18 120.649 289.822 7WJ.416 1J28. 749.884 1.039.686 19 1.2M(O2 814926 3.031.862 $2,199 79.663 1787, 3,031A62 Z831.350 P4E 17
The Parochial Church Councll of the Ecclèslastl¢al Parlsh of Hexham Abbey Group Cash Flow Statement for the Year Ended 31 December 2024 Note 2024 2023 Cash flovts from operatlng activities: Net cash provlded by (used In) operntlng activities 25 13,188 109,483 Cash flows from invesling aclivitles: Dividends, interest and rents from inveslmenls Purchase of property. planl and equipment Purchase of herilage assets Net cash provided by (used in) investing actlvltles 26,745 {27.4571 25.211 (35,514) 2,322 {7,9811 17121 Change In ¢ash and cash equivalents in the reporting perlod 12,476 101,502 Cash and cash equivalents at the beginning of the reporting perlod 896,686 795,184 Cash and cash equlvalents at the end of the reporting perlod 26 909,162 896,686 Anaty$i$ of changes In net debt: 1 January 2024 New finance leases Other non- eash chan es 31 December Cash-flows 2024 909,162 Cash 896,686 12,476 Totsl 896.686 12,476 909,162 Page 18
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Notes to the Flnancial Statements lor the Year ended 31 December 2024 1. ACCOUNTING POLICIES 1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The accounts (financial statements) have been prepared in ardance with the Ststement of Recommended Practice.. Accounting and Reporting by Charities preparing Iheir accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice. The accounts (financial statements) have been prepared to give a 'true and fairf Mew and have departed from the Chaiities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The Stslement of Financial Activities {SOFA) and Balance Sheet con501idate the financial statements of the PCC and its subsidiary undertakings. The charity meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless OtheIse ststed in the relevant accounting policy notes. 1.2 FUND ACCOUNTING General funds are unrestricted funds which are available for use at the discretion of the Members in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Members for particular purposes. The aim and use of each designated fund is set out in the notes to the financial ststements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for parti¢ular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 1.3 INCOME All income is included in the Statement of Financial Actimtles when the charity has entitlemenl to the funds, probability of receipt and the amount can be measured with sufficient reliability- For legacies, entitlement is when the legacy has been received or, if earlier, there is suffiGient evidence that, in line with the SORP, it is probable that the legaGy will be reiVed and the value of the income can be measured with sufficient reliability. Income tax recoverable in relation to donations received under Gift Aid or deeds of cnvenant is recognised at Ihe lime of the donation. Funds raised by events are accounted for gross of expenditure. Renlal income from letting of Ghurch premises is accounted for on a receivable basis. Parochial fees due to Ihe PCC for weddings, funerals etc. are accounted for on an event basis. Collections are recognised when made. Grants are included as income when Ihe income is received with the exptIOn of grants to fund specific items of expenditure, where income is recognised in Ihe period corresponding to the expenditure. Grants from the Heritage Lottery Fund are included as income when the conditions of probability, entitlement and rneasurability are met. Interest on deposit accounts is recognised when reiVed and not apportioned beeen financial years. Page 19
The Parochial Church Council of the EGclesiastlcal Parish of Hexham Abbey Notes to the Financial Ststements for the Year ended 31 December 2024 1. ACCOUNTING POLICIES 1.4 EXPENDITURE All expendilure is accounted for on an accruals basis and has been included under expense categories that aggregale all costs for allocation to activilies. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Fundraising cosls are those incurred in seeking volunlary conlributions and do not indude th8 costs of disseminating infomiation in support of the charilable activities. Support costs a those costs inCued directly in support of expenditure on Ihe objects of the Gharity and include projecl management carried out at Headquarters. Grants payable are charged in the year when the offer is made except in those Gases where the offer is conditional, such grants being recognised as exp8nditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure. All resources expended are inclusive of irrecoverable VAT. The Di0san parish share is account6d forwhen payable and any quota unpaid at the year end is shown as a creditor in the balance sheet. Support cosls include central funclions and have been allocated to activity cost calegories on a basis consistent with the use of resources. 1.5 GOING CONCERN These financial statements have been prepared on a going concern basis. The trustees assess whether the use of the going conrn basis is appropriate i.e. whether there are any material uncertainties related ta events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concem. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. 1.6 INVESTMENTS Inv8Stments are staled at market value at the balan sheet date. The Statement of Financial Activities indudes the nel gains and losses arising on revaluations and disposals throughout the year. Dividends and interest are accounted for when due. Tax recoverable on such income is accrued for on the same basis. 1.7 STOCK Stock is valued at the lower of c05t and net realisable value. Page 20
The Paro¢hial Church Council of the Ecclesiastical Parlsh of Hexham Abbey Notes to the Financial Ststements forthe Year endgd 31 Dgcember 2024 1.8TANGIBLE FIXED ASSETS AND DEPRECIATION All assets costing more than £2,500 are capitalised by the PCC. All assets costing more than £1.000 are capitalised by Hexham Abbey Trading Ltd. Tangible fixed assets are ststed at cost less depreciation. Depreciation is provided at teS calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the followng bases.. Freehotd propety (other than heritage assets) Not depreaaled Fixed equipment 100k straight line Loose fumiture and fittings 16.670A and 33.33% straight line Office equipment 250A straight line Other tangible fixed assets 2% straight line Heritage Assets are not subject to depreciation but are subject lo annual impainnent review. Consecraled and bonefice properties are exduded from the financial statements in aCLordance wth section 10 of the Charilies Acl 2011. Moveable church furnishings held by the Churchwardens on spe¢ial trust for the PCC and which require a faculty for disposal are treated as inalienable property. Prior to 2008, all expenditure incUed on consecrated or benefiaal buildings and movable churth fumishings, whether mainlenance or improvemen( was wrstten off. The SORP requires all improvement eL)sts to be capitslised. No attempt has been made in these accounts to Capitslise costs incurred in previous years. This departure from the SORP is considered justifiable on the basis thal the depreciated value of these sts is unlikety to be material in the context of the accounts. No attempt has been made lo value artefacts and other historic objects held by the PCC for a considerablo number of years and forwhich infomation relating to their original cosls is not available. 1.9 INVESTMENT PROPERTIES Investment properties are induded in the accounts al fair value. No depreciation is charged on investrnent properties in line wth FRS 102. 1.10 BASIS OF CONS DATION The financial statements consolidate the accounts of the PCC and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. .11 OPERATING LEASES Leases in which substantially all the risks and rewards are retsined by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Ststemenl of Finan¢ial Activilies on a straight line basis over the lease teryn. 1.12 ASSETS HELD FOR SALE Assets intended fordispo$al are redassified as'held for sale, On the following ¢rileria have been met.. the asset is available for immediale sale in its presenl condfjtion and the sale is highly probable. Followng redassificatior¢. the assets are meaSUd at the lower of their existing carying amount and their Yair value less c051s to sell,. Depreciation ts8ses to be Charged. Assets are de•recognised when all material sale contract rJ)nditions have been meL Page 21
The Parochial Church Council of the Eccleslastlcal Parlsh of Hexham Abbey Notes to the Financlal Statements for the Year ended 31 December 2024 Restricted Unrestrlcted funds funds 2024 2024 Total funds 2024 2. DONATIONS AND LEGACIES Total funds 2023 Planned giving and income under gift aid SeNice Collections Visitors, donations Gift Aid reclaimed The Mercers, Company The Mercers, Charitable Foundation Votive candles Other donations Listed pla ofworship grant Legacies Grants re1vable 111,761 23,653 83.331 30.378 8,000 111,761 23.653 83,331 30,408 8.000 15,000 14,151 16,502 12,592 15,000 32,845 363,243 107,089 21,710 75,367 29,325 30 15,000 15,000 8,099 33.992 t3,906 4,500 62, 694 379,682 14,151 16,242 12,592 15.000 1.100 316,208 260 31,745 47,035 Of the £379,682 received in 2023, £89,017 related to PCC restricted funds and £290,665 related to unrestricted funds. In addition to the income recorded above, donations of £5,757 (2023 - £6,809) were received from members of the public attending funerals and other ServIS and paid over lo various charities as agreed and announced at the services. Page 22
The Parochffial Church Council of the Ecclesiastical Parish of Hexham Abbey Notes to the financlal statements for the year ended 31 December 2024 3. TRADING ACTIVITIES Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Trading income Income from café, gift shop and lettings Special fundraising events Car park receipts Music in the Abbey Tour fees Other fundraising events 682,458 3,283 13,563 6,593 40,877 41,353 682.458 3,283 13,563 6,593 40,877 41.353 711,884 13, 079 5,679 32, 939 19,355 788,127 788.127 782.936 Of the £782,936 received in 2023, all related to unrestricted funds. Restricted Unrestrlcted funds funds 2024 2024 Totsl funds 2024 Total funds 2023 Tradlng expenses Staff costs Special fundraising events Car parf( Costs relating to the Gafé, grft shop and lettings Music in the Abbey Other fundraising expenses Tour costs 278,353 278,353 267,649 40 2,540 301, 057 1.615 10.719 2,915 312,260 9,103 9,964 39 2.915 312.260 9.103 9,964 39 612,634 612,634 Of the £583,620 paid in 2023, £5,000 related to restricted funds and £578,620 related to unrestrtcted funds. 583, 620 Net income from fundraising activities 175.493 175,493 199,316 4. INVESTMENT INCOME Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Dividends and interest Rental income 21,645 5,100 26,745 21,645 5,100 26,745 15,011 10,200 25,211 Of the £25,211 received in 2023, all related to unrestricted fund5. Page 23
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Notes to the financial statements for the year ended 31 December 2024 S. INCOME FROM CHARITABLE ACTIVITIES Restrictsd Unrestricted funds funds 2024 2024 Totsl funds 2024 Total funds 2023 Funeral and wedding fees and similar income Income from school visits 7,464 35 7,429 7,464 35 7,429 8.308 8,308 Of the £8,308 received in 2023, all related to unrestricted funds. 6. OTHER INCOME Restricted Unr8Stricted funds funds 2024 2024 Total funds 2024 Total fvnds 2023 Choir fund Bellringers Other income 10,121 958 10.121 958 40,269 51,348 29,170 929 18.222 48,321 40,269 40,269 11,079 Of the £48,321 received in 2023, £30.099 related to restricted funds and £18,222 related to unrestricted fund5. 7. EXPENDITURE ON CHARITABLE ACTIVITIES Grant funding of Direct costs activiti8s Support costs Total funds 2024 2024 2024 2024 Total funds 2023 PCC costs HATL costs 345,950 9,738 5,475 176.950 2,001 528,375 11.739 642.322 10,300 355,688 5.475 178,951 540,114 652,622 Of the £540,104 paid in 2024, £35,221 related to restrbcted funds and £504,883 related to unrestricted funds. Page 24
The Paro¢hial Church Council of the Ecclesiastical Parfsh of Hexham Abbey Notes to tha financial ststsm8nts for the year ended 31 December 2024 8. DIRECT COSTS Total funds 2023 PCC Costs HATL Costs Total 2024 Diocesan parish share Worship, ministry and mission Church running and maintenance costs Choir and organ expenses Major repairs and capital projects Stsff costs Priory building running and maintenance costs Prior Leschman garden Depreciation 100,000 8,706 113,572 7,844 6,168 63,543 40,214 100,000 8.706 113,572 7,844 6,168 63,543 40,214 705.000 7.774 106,083 6.365 32,870 68,528 38,575 377 120,034 5,903 9,738 15,641 345,950 9,738 355.688 485.426 9. GRANT FUNDING OF ACTIVITIES Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Mission and ministy activities Outreach activities 5,125 350 5,125 350 4.900 350 5,475 5,250 Included wthin the grants paid were the following grants of £500 or more: Mission and ministry activities WERS Iwest End Refugee Service) £500 SEDCU (Supporting the Education of Disadvantaged Children in Uganda) £750 st. Pauls Children'5 Project £750 West Northumberiand Food Bank £1,100 NDAS (Northumberland Domestic Abuse Services) £1,100 Page 25
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Notes to the financial statements for the year ended 31 December 2024 10. SUPPORT COSTS Total funds 2023 PCC Costs HATL Costs Total 2024 Premises costs Office costs Health and safety Advertising and publicity staff costs Professional fees Auditovs remuneration Depreciation Other Loss on disposal of fixed assets 24,594 9,738 2,985 268 95,559 12,315 12,520 7,648 11,323 24,594 9,738 2,985 268 95,559 14,316 12,520 7,648 11,323 22, 680 9.177 1,074 616 87,956 8,044 12.058 9, 102 6,454 4, 785 161,946 2,001 176,950 2,001 178,951 11. OTHER EXPENDITURE Unrestrictsd funds 2024 Restrictsd funds 2024 Total funds 2024 Total funds 2023 Bell ringers Choir fund Other expenditure 307 8,377 28,416 37,100 307 8,377 28,416 37,100 1,896 24,514 5, 754 32, 164 Of the £32,164 paid in 2023, all related to restricted fijnds. Page 26
The Parochial Church Council of the Ecclesiasllcal Parish of Hexham Abbey Notes to the finan¢lal ststements for the year ended 31 December 2024 11 STAFF COSTS Stsff costs were as follows.. 2024 2023 Wages and salaries National Insurance Pension conlributions Death in semce 420.437 7,449 7,017 935 406,005 7, 786 6.521 181 The average monthly number of employees during the year was as follows.. 2024 2023 Employed by PCC Employed by Hexham Abbey Heritage Trading Limited 10 35 45 34 42 Employed by PCC- Part Time Employed by Hexham Abbey Heritsge Trading Limited - Full Time Employed by Hexham Abbey Heritage Trading Limited - Part Time 10 30 42 45 No employee received remuneration amounting to more than £60,000 in either year. During the year, three PCC members reiVed remuneration or benefits in kind totalling £7.008 {2023- £2,635). The members are part time employees. During the year, four PCC members reiVed reimbursement of expenses totalling £3.006 {2023 - £2,803) induding for vesty items, travel, telephone and hospitality relating to work on fiJnerals and visthng merrS. Key management personnel remuneration amounted to £97,367 in the year {2023- £89,938). P3ge 27
The Parochlal Church Council of the Ecclesiastical Parlsh of Hexham Abbey Notes to the financial statements for the year ended 31 December 2024 13. TANGIBLE FIXED ASSETS - Group Freehold Fixtures & property fittings Totsl Group Cost At 1 January 2024 Additions Disposals At 31 December 2024 52,501 813.435 27,457 865.936 27,457 52,501 840,892 893,393 Depreciation At l January 2024 Charge forthe year On disposals At 31 December 2024 758,141 23,289 758,141 23,289 781,430 781,430 Net book value At 31 December 2024 52,501 59,462 111,963 At 31 December 2023 52,501 55,294 107, 795 Page 28
The Parochial Church Councll of the Eccleslastical Parish of Hexham Abbey Notes to the financial statements for the year ended 31 December 2024 13. TANGIBLE FIXED ASSETS (continued) - PCC Only Freehold Fixtures & property fittings Total pcc Cost At 1 January 2024 Additions Disposals At 31 Dember 2024 52,501 767,371 20.987 819,872 20,987 52,501 788,358 840,859 Depreciation At 1 January 2024 Charge for the year On disposals At 31 December 2024 724,741 13,551 724,741 13,551 738,292 738,292 Net book value At 31 December 2024 52,501 50,066 102.567 At 31 December 2023 52,501 42.630 95, 131 The net book value for freehold propety is made up of one propety: 1. The Parish Centre - A former cottage used as offices and meeting rooms. This property is maintained by the PCC and w8s brought into the finsncial ststements approximately 18 years ago. Page 29
The Parochial Church Council ol the Ecclesiaslical Parish of Hexham Abbey Notes to the financlal statements for the year ended 31 December 2024 14. HERITAGE ASSETS Henry Perlee Land and Parker Palnllng Bulldings Totsl Group Markel value At 1 January 2024 Additions At 31 December 2024 15,000 1,589,600 1,604.600 Henry Perlee Land and Parker Painting Buildings Total pcc Market value At 1 January 2024 Additions At 31 Dember 2024 15.000 1.589,600 1,604,600 15,000 1,589.600 1.6(M,600 The net book value for land and buildings is made up of the following properties.. The Priory Buildings and adjoining land - Au4uired for the Hexham Abbey Proje¢t and leased to Hexham Abbey Heritage, until 31 Dember 2017 vthen they were transferred to Hexham Abbey PCC. Expenditure on refurbishment of the Priory Buildings, but not expenditure on the exhibition or on fumiture or equipment (eXp1 where this cannot practicably be separated from expenditure on the buiklings). has been Irealed as relating to a heritage assat. which, having an indefinite life. is not 8ubject to d8preciation. The Henry Perlee Parker Paintin9 - Induded at valuation, which was carried out by Anderson and Garland Valuers on 21 June 2004. The Members, ¢onsider that the current valuation of the painting will not be substsnlially different lo the valuation carried out in 2004. The painling was asSifIed from investments to heritage assets in year ended 31 Detsmber 2017, as this is a more accurate refiection of the assets use and purpose. Details of transactions relating to heritage assets for the past eight years are as follows: Addltlon8 2016-2017 2018 2019 2020 2021 2022 2023 (2,4691 (2,5651 {2,5651 {2,5651 {2,119) 12.404) 12.322) The PCC also owns The Deposition, 3 16th century Flemish oil-on-canvas painting now known to be the Centrep of a triptych. The painting is not presently kept in the Abbey. as the PCC has k)aned the painting to a thitd party charity for exhibition. The characteristics and provenance of The Deposition mean that the trustees are unable to obtain a reliable estimate of valuation in accordan with FRS102, the range of valuations already having been obtained stretching from £80,000 to £150,000. On this basis. The Deposits'on has not been included as a herttage asset in the balance sheet. 15. FIXED ASSET INVESTMENTS Holding in subsidiary undortaking pcc Market value Al l J8nuary 2024 Additions At 31 D8c£mb8r 2024 I the fixed asset investments are held in the U 40,693 40,693 Page 30
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Notes to the financial statements for the year ended 31 December 2024 16. INVESTMENT PROPERTY - Group and PCC Onty Unrestricted VALUATION At 1 January 2024 Transfer Disposals Revaluation At 31 December 2024 275,000 (425,000) 150,000 The investment propety has been reclassified during the year ended 31 December 2024 as an asset held for sale. 17. DEBTORS Grou pcc 2024 2023 2024 2023 Trade debtors Amounts owed by group undertakings Prepayments and accrued income 20.168 12,965 6,749 94,348 19,552 120,649 944 267,009 21,869 289,822 19.552 39,720 21,869 34,834 8. ASSETS HELD FOR SALE Grou pcc 2024 2023 2024 2023 Investment propety held for sale 425,000 425,000 29 Robson Drive was reclassified in the period as a notice of sale was issued durlng the year with a sale expected to complete within the nexk 12 months. At the year end the property is available for immediate sale th a sale being highly probable. 19. CREDITORS Amounts falling due within one year Grou pcc 2024 2023 2024 2023 Trade creditors Amounts owed to group undertakings Other taxation and social security Accruals and éeferred income 28,315 42,239 16,824 7,740 1,724 15,775 42,063 22,110 175, 792 10,361 15,497 223, 760 33,973 29,378 91,666 41,838 25,902 109,979 Page 31
The Parochial Church Councll of the Eccleslastlcal Parish of Hexham Abbey Notes to the flnanclal statements for the year ended 31 December 2024 20. STATEMENT OF FUNDS Restricted funds Brought fopNard 2024 Carried forward 2024 Income 2024 Expenditure 2024 Transfer5 2024 Choir fund Hexham Abbey Guild of Bellringers The Mercer5' Charitable Foundation Chorister Prizes Medieval Panel Paintings Abbey roof Hexham Abbey Restoration Trust IptAR Cathedral Music Trust The Ousley Church Mu51¢ Trust Miscellaneous Addison bequest Sir James Knott Trust Northumbria Historic Churches Trust St. Hilda's Trust Saxon Fragment8 County Durham Communlty Found8tion HAHD Grant 7.816 3.622 10.621 988 15.000 (8,3771 {3071 115.000) 11201 12601 19,9Q61 19,3571 12,0401 12,0001 1284) 17931 13,0001 112,6731 11.6301 11,2891 13.0001 12.2851 172,3211 10.060 4.303 505 385 260 42,150 32,244 9.200 157 2,040 4,000 130 2,000 208 4,000 (541 3,207 3,000 10,000 1,630 2,673 1,279 2,000 10 1,000 2,285 58.114 63,620 2,786 52.199 Comparallve restrlcted funds Brought fonvgrd 2023 Carried Transfers fonvard 2023 2023 Income 2023 Expenditure 2023 Choir fvnd Hexham Abbey Guild of Bellringers The Mer¢%rs' Chantable Foundation Chorisler Prizes Medieval Panel Paintings Abbey ri>of Hexham Abbey Restoration Trust (HARTI Cathedral Music Trust The Ousley ChLtrch Music Trust Gillian Did(inson Trust Rothley Tnjst Grant MislIaneOUS Addison bequest National Churches Trust Sir James Knott Trust Benefact Trust C of E Grant Trust DBF Youth Grant Ballinger Trust NCT Grant St. Hilda's Trust Saxon Fragments County Durham Communty Foundation 3,160 4,554 29,170 964 15,000 124,5141 (1.8961 115,0001 12401 (4,1551 7,816 3,622 745 3.855 42.150 505 300 42.150 8,700 13.000 {8,7001 {10,9601 11,0801 12,5681 18001 116,4501 1,080 2.568 800 12,400 4.258 4.000 208 4,000 2,434 3,000 1,760 12,4341 13,0001 14.2201 11.5601 1611 11,OOQ) 2,460 1,560 61 1.000 29,000 129,000) 1,350 691 11,3501 588 2,000 119,116 1,279 2,000 63,620 73,492 199.9881 29,000 Page 32
The Parochlal Church Coun¢il of the Eccle?ia¥tical Parish of H•xham Abbey Notes to tha financlal statements for the yearended 31 Decembèr 2024 PCC R88triet4d Fund8 Choir Fund - Funds raisad from the activities of the Hexham Abbey Choir to b8 applied towards activitles and purthas8$ as specffied bytha Choir, including choir tours. Hexham Abbey Gulld of Bellringers Ftsnds raised from the activ*tias of the Guild of Btrllringers QTe to b& applied tOWdrds activities and purchasès Ss specified by Ihe members of the Guild. Thè Mercer8' Ch•ritable Foundation - Annu81 eontributions towards the cast of insuring the Abbey. Chorlgter PriZ- Donation to encourage the work of the choirs., to b8 organlsed In prize foryn divided in iw) parts 3epar8te]y and eqLt811y b8tert boy and girf choristers, at the dis¢retion of the Director of Music over8 number of years. Donation received for the upkeep and r&fvrbi8hrnent of the medioV81 panelled paintings within th& Mèdleval Panel P8intings Abbey and Pllory bulldings. Abbey R¢of - Donotions and fvnds ralsed for the repair of the Abbsy rcol. in addition lo those e8rnark8d or degnated from legacs. Hoxham Atsy Restoratlon Tru8t IHARY) - A charitable Iwst, which is separate to the chadty and its sub8hliaries. that awards grants io the Abbey to assist thith restorats'va WDrk, c3tNtal èxpènditure and unfortsseen repairs. Cathedral Musl< Trust- A fund to halp to%%Brds o)re costs of the music department. Tho Ou8ley Church Musie Trust. a grant to 8SSlSt wth fundlng an assistant org8nlst in 24125. Miscèllaneous- a ccrnbinstion of funds to holp towards rep8iTS. Addlson 8eque8t- A bequest from the estst8 ofJohn 8 Addison lo bg u$ed forthe benefft oftha Church Music Fund. SlrJames Knott Trust- A orant to support the relaunching of our off8r for schools and familias. Northumbria Historic Churches Trust- Grant for slained gla8s window repairs. Church of England Grant Trust - A grant to support thg vjork of a Community Engagement Manager in welcomlng schools 8nd f8milies. St. Hllda's Trust - Three gmnt8 to support-. a games cats and P]COmIng families1£1,3001'. subsldlsa places for disadvantaged thori8tefs f8milies1£5001 and lo support ber98varnènt eaf6 and silversueen180Ci81 support for older 8nd vulnerable aduttsl1£3001 Sax¢n Fragments - Donations t0rdS conservation ofAngIsaX0n Crucifixon fragments. County Durham Communlty FoundBtion -A grant to support the surrounding gardens of the Abbey. HAHD Grant- Hexham Abbey Heritage Dev8lDPTn8nt Trust- A charitable tw$i4thich is separata to the charity and ils subsidiaries. ich exstS to support the h8riiage of Hexham Abbey. Page 33
The Parochial Church Councll of the Eccleglastl¢al Par55h of H•xham Abl Noteg to the flnanclal 8tatements forthe year ended 31 Dec8mb•r2024 Brought forwrdrd Transfers Inlout 2024 Galns noss•s 2024 carrfed fo¢ward 2t124 Income 2024 Expendlture 2024 2024 Dèslgnated fvnd$ Property Maintanance and Conservation Mission and Ministry Outreaeh Norman Hill Beque3t Neslmentsl Fixa Assets IFreehoEd Land and Bui1éSngs & fjxiures & fitbngsl Fixad Assets IPortable Screens) Fixed Assets IHeritage Assets) The Merc8rs' Company (Othèr) Abbéy Roof Ann Edwards legacy Prfor Leschman Garden (Dis881 of Lowgatel Nora Home Roof replackment 399,509 10.591 8.372 2,824 362,468 7,e63 1.604,800 390,509 10,591 8,372 2,824 96,558 6,568 1.604.600 112,3631 (253,5471 11,0951 8,000 18,0001 14.917 8,357 50,000 2,469.301 14,917 8,357 SQ 000 2,202.296 21,458 253,547 General fund General funds- all funds 315,668 1,170,778 11,096,069) 250,761 150,000 791.138 Totsl Unrestricted fijnds 2.784,969 1 178 778 1,117,52 2,786 150.000 2,993,434 Transfers durfng the year reflect Ihe tran$f81 of the Inveslment property to general funds as thls has been redassrfied a5 an asset held for sale and expenditure atwunts redas%fied from unrestricted funds incJJrred in the prior period Comparatlve funds Brought fon¥ard 2023 Transfe Inlo 2023 Galn nosses 2023 Canied fonvard 2L123 In¢ome 202) Expendltyr¢ 2023 D•slgnated lo•nats Property Mainten9n and Conservatitsn K4ission and Ministry Outreach Norman Hill Bequest (Vesknientsl Fixed Assets IFreeho]d LaNJ an(18uiklings & fixlures & fiitingsl Flxed Assets (Portable Screens) Fixed Assets (Heritage Assets) The Mercers. Company lother) Abbey Rth)IrepIarnent Watson bequest Abbey R(x)fAnn Edwards lega Prior Leschman Garden IDisposal tsf Lowgatel Nord Home Roof repL3cthient 399,509 10.591 8,372 2,824 467.659 13,543 1,606,922 399,509 10,591 8.372 2.824 2,468 7,683 1,604,60Q 1116,414) 11,0951 12.3221 18,000) 11,223 <4,7851 8.000 14,917 8,357 so.000 2 582,694 14,917 8.357 50.000 2,469 301 727,831 GeneMI fund Gener8lfund$- èllfunds 216.351 1.117,342 11,040,587) 22,562 315,668 Total Unrestrioted fvnds 2,799,045 1. 12&342 1, 168 478 29.(QO 2.784,969 P3ge 34
Tha Parochial Church Coun¢ll of the Ecclèsla$tl¢al Parish of H•xham Abbay Not¢$ to the flnancial statements forthe year end•d 31 Dmbar 2024 DESIGNATED FUNDS Property Malntenance and Consgrvation Fund- Mindftjl ol the uniqu¢ building and its heritage that is Hexham Abbey, a fund designated for rnaintenan and conservation costs of this very spe¢ial building. induding portions of a number of legaties Mission and Ministry Fund A fund designated lo ensure money is available vknen required for identified projects of a religious nature. Outr•a¢h Work- A fund designated to ensure money is available bvhen required for identified prosects connected ith sotial Melfare for the community and people of Hexham and fvrther afield. Norman Hill B•qu&6t - The balanee of a legacy frorn the Reverend Nomian Hill for the commissioning of new vestments and altar linen. Fixèd A88ets Freehold Land and Bulldings and Fixturos and Fittings - Indudes The Parish Centre and fixtures and fittings. Flxad Assets (Portablo S¢raèns) - Portable 8cr8ens lch can be moved amund the Abbey for streaming and irrformalion purposes. Fixed Ass6ts (Haritag8 As$èts)- The Priory Buildings and adjoining land. Tho MerrS. Company- An annual Contribution towards the general running costs of the Abbey. Abb&y Roof {MaryaTet Watson Bequest and Ann Edwards legacy)- The major part of an unrestri¢Xed bequest fmm the estate of hArs Margarel Watson and part of an unrestricled bequest from the estsle of Ann Edwdrds designated forthe repair of the Abbey roof. Prior Le$¢hman Gardon- The net proceeds from the disposal of Lowgate Churd), designaled as a contribulion towdrds the redevelopment of the Prior Lesthman garden as a medieval herb garden lo complement the refvrt)ishrnent of the Priory Bulldings. Nora Homo Loga¢y {Abbey Roof r¢plac8m•ntl - This is a legaw received by Hextham Abbey PCC whlch has been designated by the Itustees for the replacement of the Abbey roof. Page 35
Tho Parochlal Church Councll of the E¢¢leslasti¢al Pari8h of Hexham Abbey Notes to tha financial statements forthe yèarondod 31 December 2024 SUMMARY OF FUNDS Galnsllos8e8 ¢n revaluation Brought fOard Transfers Inlout Carried for4vard Income Expenditure Designated funds General funds 2,469,301 315.668 2.784,969 8,000 1.170.778 1.178.778 (21,4581 {253.5471 1,096,069 250.761 1,117,527 2,786 2.202.296 791.138 2,993.434 150,000 150,000 Restricted fvnds 63,620 2,848.589 58,114 1,236,892 2,321 1,189,848 2,786 52,199 3,045,633 150,000 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS Rastrlcled Unrestricted funds funds 2024 2024 Restricted Unrestricted funds fvnds 2023 2023 Total funds 2024 Total funds 2023 Tangible fixed assets Heritage assets Investment prDperties Current assets Creditors duè within one year 111,963 1,604.600 111.963 1,604,600 t07,795 1,604,600 275.000 907,553 109,g79 2. 784,969 107, 795 1, 604,600 275,000 971.1T3 109,979 2,848,589 52,199 1.368.537 (91,666 2,993,434 1,420,736 91,666 3,045,633 63.620 52.199 63,620 Page 36
The Parochial Church Council of the Ecclesiastical Parish of Hexham Abbey Notes to the financlal statsments for the year ended 31 December 2024 22. SUBSIDIARY UNDERTAKINGS Company name County Control Description Hexham Abbey Trading Ltd England & Wales 1000 Company limited by shares, of which Ihe PCC of Hexham Abbey is the sole shareholder, with 8 £40,693 ordinary shareholding. Company number 07719334. Hexham Abbey Trading Ltd is a separate non-charitable Gompany which undertakes the day-to-day delivery of services in the buildings, including the operation of the café and the letting of rooms in the buildings. It also manages the Abbey Shop in its existing premises alongside the Abbey. It operates on a commercial basis but may make qualifying charitable donations to the PCC equivalent to its entire profft. thus reducing its corporation tax liability to nil. In 2024 it made a qualifying charitsble donation to Hexham Abbey PCC of £94,348 of which all was outstanding at the end of the year. The results and balance sheets of the subsidiary are summarised below.. Summary of income and expenditure Hexham Abbey Trading Limited 2024 2023 Total income for Ihe year Total expenditure in the year Total 691,913 {601,033 90,880 718,239 579,006 139,233 Balance sheet summary Hexham Abbey Trading Limited 2024 2023 Fixed assets CUent assets Current liabilities 9,396 12,664 197,011 373,043 (152,207) (328,039) Total 54,200 57,668 23. RELATED PARTY TRANSACTIONS Donations from members of £7,062 were received during the year. There are no further related party transactions during the year. 24. Capital commitments At the b8lance sheet date the PCC had no capiial commitments. Page 37
The Parochial Church Council of the Eccleslastieal Parish of Hexham Abbey Notes to the financial statements for the year ended 31 DeGember 2024 25. Reconclllatlon of net incomel{expendlture) to net cash flow from operallng activltles 2024 2023 Net incomeJ{expenditure) for the reporting period (as per the statement of financial activibes) 47.044 {23,948) Deprecyation charges Loss on disposal of fixed assets Diwdends, interest and rents from inveslments Ilncrease)IdeGrease in stocks Ilncreasè)Idecrease in debtors Increasel(decrease) in creditors 23,289 129,136 4,785 {25,211) (9,236) 25,257 8,700 (26,745) {7,201) (4,886) (18.313) Net cash prollded by (used in) operating activities 13,188 109,483 26. Analysls of cash and cash equlvalents 2024 2023 Cash at bank and in hand 909 162 896 686 Page 38