## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF**
**TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2021**
**Registered Charity Number 01132548**
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Contents of the Financial Statements For The Year Ended 31 December 2021**
||**Page**|
|---|---|
|Charity Information|2|
|Report of the Trustees’|3-7|
|Independent Examiners’ Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Financial Statements|11-17|
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Charity Information For The Year Ended 31 December 2021**
## **MEMBERSHIP**
Members of the PCC are either ex officio or elected by the Annual Parochial Church Meeting in accordance with the Church Representation Rules.
## **Incumbent:**
The Revd Stephen Dixon CA
(Appointed 7 October 2018)
**Parish Administrator:** Mr Stuart Crozier **Wardens:** Canon David Bilton (Elected April 2016) Mrs Janice Torpy (Elected April 2019)
**Representatives on the Deanery Synod:**
Mrs Linda Benneworth (Elected April 2020) Canon David Bilton (Elected December 2020) Mrs Karen Bilton (Elected December 2020) **Elected Members:** Mrs Debbie Baird (Elected 2019) Mr Michael Bayley (Elected 2019) Mr Christopher Benneworth (Elected 2018) Mr Rob Blake (Resigned 2021) Mr Julian Brown (Elected 2020) Mrs Elena-Rose Crawford (Resigned 2021) Mrs Carol Davison (Elected 2020) Mr Euan Duff (Elected 2021) Mr Dan Entwisle (Resigned 2021) Mr Paul Johnson (Elected 2021) Mrs Elizabeth Parr (Elected 2019) Mr John Pearce (Elected 2018) Mr Gareth Ruddle (Resigned 2021) Mrs Liz Shipway (Elected 2016) **Other Officers:** Lay Vice-Chairman Mr Christopher Benneworth (Elected 2020) Mr John Pearce (Elected 2020) Secretary Treasurer Mrs Karen Bilton (Appointed February 2018)
**Elected Members:**
## **LEGAL STATUS**
The PCC is a registered charity the full name of which is “The Parochial Church Council of The Ecclesiastical Parish of Tynemouth Priory Holy Saviour, Tynemouth” and the registered number is 01132548.
**Church Address** The Broadway Tynemouth North Shields Tyne and Wear NE30 2LD
**Bankers**
## **Independent Examiners**
The National Westminster Bank Plc Haines Watts Newcastle 18 Park View 17 Queens Lane Whitley Bay Newcastle upon Tyne Tyne and Wear NE1 1RN NE26 2TQ
-2-
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
**Report of the Trustees For The Year Ended 31 December 2021**
The trustees present their report and financial statements of the charity for the year ended 31 December 2021.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **ORGANISATION OF THE CHARITY**
The Parochial Church Council is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure.
The PCC operates through a number of committees and task groups, which meet several times a year.
Standing Committee: This is the only committee required by law. It has power to transact the business of the PCC between its meetings, subject to any directions given by the Council.
Task groups met on an ad hoc basis to deal with matters as they arise. The PCC does not control any related trusts or charities.
## **TRUSTEES**
Details of all the Trustees who have served throughout the year are given on page 2 of this report. Appointment to the PCC is governed by and set out in the Church Representation Rules.
## **RECRUITMENT AND TRAINING OF PCC MEMBERS**
PCC members are recruited from active parishioners by request and elected at the Annual Parochial Meeting by the parishioners qualified to attend the APM. The PCC look to ensure a broad mix of skills and Christian commitment.
Newly elected members are provided with induction training by the Incumbent, Lay Vice Chairman and Secretary and are encouraged to attend various training events organised within the Diocese.
## **RISK MANAGEMENT**
The PCC is responsible for the identification and management of all risks. Detailed examination of the risks is delegated to the Standing Committee that works with the officers to identify risks and establish controls to mitigate them. A formal review of the risk management processes is undertaken annually.
## **OBJECTIVES AND ACTIVITIES**
## **OBJECTIVES OF THE CHARITY**
Holy Saviour’s PCC has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has the maintenance responsibilities of the church, the Parish Centre and the Parish Hall in Manor Road, Tynemouth.
-3-
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
**Report of the Trustees** _**(Continued)**_ **For The Year Ended 31 December 2021**
## **STRATEGIES TO ACHIEVE THIS YEAR’S OBJECTIVES**
We will continue as appropriate to draw people together to oversee specific tasks within the church.
## **VOLUNTEERS**
The Church continues to rely upon the services of volunteers to carry out its mission. Volunteers range from those being involved in the management of the Church’s affairs to those involved in supporting initiatives of the Church. Volunteers include Church Wardens, sides-persons, altar servers, singing group and musicians, Sunday School leaders, Bible lesson readers, intercessors, uniformed group leaders, W3, church cleaners, Parish News collators, flower arrangers, gardeners, treasurer, planned giving secretary, visitors, and many more. The PCC would like to thank and acknowledge all the time, energy and work undertaken by volunteers.
## **GRANT MAKING POLICY**
Mission - sums paid to charitable organisations from the Church’s own income amounted to £2,000 in the year (2020 - £2,100).
The Parish Share has in the past largely provided for clergy stipends and housing. However, each Diocese now has to take responsibility for Clergy Pensions and National Insurance costs from the Church Commissioners. The Diocese recently changed from a centralised levy on each Deanery to a voluntary contribution system where each parish pledges an annual amount of Parish Share. In view of the financial losses due to Covid, the Holy Saviour's PCC decided to pledge a reduced figure in the last two years which, while covering clergy costs, reflected the reduced income. The pledge for 2021 was £65,000 (2000 - £65,000) and was paid in full. We hope to increase this pledge in future years as our income recovers.
No Grants and Bursaries that are awarded on merit were made in the year (2020 - £nil)
## **REVIEW OF ACHIEVEMENTS AND PERFORMANCE FOR THE YEAR**
The year began with a disappointing return to lockdown measures. After only one service in January, the PCC and Vicar felt it advisable, along with the majority of other churches in the Diocese, to move back to online worship only. Services were offered live from the church with a small team of volunteers providing the worship. Lent groups, PCC meetings and other gatherings were conducted on social media. All other activities in the Parish Hall and Centre were suspended.
In-person worship resumed in time for Holy Week and Easter and was then held consistently through the rest of the year. From Easter onward, there was a gradual increase in the number of groups using the Parish Hall and Centre.
Unlike the previous year, we were able to hold Christmas services and events. However, the omicron variant of Covid in the Autumn caused concern that services might be cancelled again. Numbers attending Christmas services were understandably low, largely due to anxiety about the rapid spread of the omicron variant.
Sunday attendance figures have been significantly reduced by the continued pandemic to around 60% of preCovid levels. However, we are working to keep in contact with all previously regular attenders and have experimented with a children and young family service on Sunday afternoons.
Our budgeting had been based roughly on half the year without lettings income and half with pre-Covid levels of lettings. This proved to be somewhere near correct, though it was only with good financial management that our losses were kept to a minimum. The consistently generous donations from the congregation through planned giving assisted greatly in maintaining a reasonable income during lockdown periods.
-4-
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Report of the Trustees** _**(Continued)**_ **For The Year Ended 31 December 2021**
An area of concern for the coming year’s finances is the extraordinary increase in energy costs which is likely to more than double. This, coupled with a general rise in inflation, means we will need to keep up the close management of finances and take measures to reduce energy usage where possible.
Plans for the redevelopment of the Parish Hall were drafted up to rectify major faults in the structure of the building and provide for multiple use spaces with better access and welcoming vestibule/reception area. A public consultation was held in August with general agreement that the plans were good. In light of the consultation, some refining of the plans has taken place with a view to commencing work as soon as funds permit. The initial estimate was costed at £700,000+vat, though it is predicted that, with fittings and fixtures and professional fees, the eventual costs will be around £1.2m inc VAT. It is planned that funding will be sought from national and regional trust funds, through local appeals and fundraising events. A substantial percentage of our current reserves will be offered as match funding.
-5-
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Report of the Trustees** _**(Continued)**_ **For The Year Ended 31 December 2021**
## **FINANCIAL REVIEW**
Total income for the year amounts to £120,487 (2020 - £117,637), of which £669 relates to restricted funds. The financial statements, including unrealised asset gains, show a surplus for the year of £25,163 (2020 - £5,047 surplus).
Our combined reserves totalled £396,374 (2020 - £371,212), of which £335,278 is held with Brewin Dolphin and it is hoped that the income generated will assist in years when our expenditure exceeds our income.
## **Principal funding sources**
Principal sources of funding are derived from parishioners through the annual planned giving scheme, together with plate collections, donations, grants and legacies. Fundraising performance in the current year is set out in note 2 of the accounts.
## **Reserves policy**
The objective of the PCCs reserves policy is to ensure the provision of adequate working capital resources by monitoring the level of the PCC’s free reserves. Free reserves are funds that are not tied up in fixed assets and that are unrestricted – including designated funds that have not been committed to specific expenditure.
The PCC considers that the level of free reserves throughout the year should be a minimum of 6 months of the budgeted amount for the ensuing year for cash-based operating expenditure less investment income expected to contribute towards that expenditure from restricted funds classified as operating funds.
As at 31 December 2021, free reserves were in excess of 6 months budgeted expenditure and was therefore in line with the reserves policy.
## **Investment policy**
The Parochial Church Council has invested with Brewin Dolphin. The objective of the Brewin Dolphin investment is to provide recurring income whilst growing the value of the portfolio to ensure that, over the medium term, income and capital can grow in real terms. In risk terms, whilst the Trustees are able to tolerate modest shortterm volatility, the main objective of the investment strategy is to avoid permanent loss of value in the portfolio. The overall aim is to provide income to keep the Church running during times where income from collections and other fund raising is falling but our day-to-day expenses are not. Investments are stated in the balance sheet at their market value. Investment performance is set out in note 5 of the accounts.
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Report of the Trustees** _**(Continued)**_ **For The Year Ended 31 December 2021**
## **PLANS FOR FUTURE PERIODS**
The two years of disruption caused by the pandemic have had an impact on every aspect of ministry and mission at Holy Saviour’s and we hope that the coming year might provide an opportunity to recover and regroup. The challenge to resume the activities of our worshipping community has already begun, but there is an understandable air of caution around planning events and regular activities. We have implemented measures to make our worship and events as Covid-safe as possible and will continue to do so, not only to mitigate risks to health, but also to raise confidence levels.
We have an aging congregation and a programme of monthly informal services will take place to encourage young families into the church.
The redevelopment of the Parish Hall will be a major focus. Funding will be sought and further stages of planning should move the project through Local Authority Planning Application to the appointment of a contractor. It is recognised that, should the building work on the Parish Hall commence in 2022, we will see a complete loss of rental income from this building.
We are blessed with a very active worshipping community, and while the challenges for 2022 are significant, there is a willingness to move forward to recover from the pandemic and extend the mission of the church in Tynemouth.
## **INDEPENDENT EXAMINERS’**
Haines Watts were re-appointed as the charity’s independent examiner during the year.
Approved by the trustees on ......................................................................... 2022 and signed on their behalf by:
............................................................................ Steve Dixon, Vicar
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Independent Examiner’s Report For The Year Ended 31 December 2021**
I report on the accounts of the church for the year ended 31 December 2021 which are set out on pages 9 to 17.
## **Respective Responsibilities of Trustees and Examiner**
The church’s trustees are responsible for the preparation of the accounts. The church’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
## **Basis of Independent Examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
Since the gross income for the year exceeds the amount provided in section 145(3) of the Act, I confirm that I am qualified to act as Independent Examiner under the provisions of that section of the Act and that my qualification is as shown below. In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that in any material respect the requirements
- To keep accounting records in accordance with section 130 of the 2011 Act, and
- To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or
2. To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Donna Bulmer BA(Hons) ACA For and on behalf of Haines Watts**
17 Queens Lane Newcastle upon Tyne NE1 1RN
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Statement of Financial Activities For The Year Ended 31 December 2021**
|**Notes**
**Incoming Resources**
Voluntary Income
2(a)
Church Activities
2(b)
Investment Income
2(c)
Other
2(d)
**Total Incoming Resources**
**Resources expended**
Raising Funds
3(a)
Church Activities
3(b)
Refurbishment Projects
3(c)
**Total Resources expended**
**Net surplus/(deficit) before**
**Investment Gains**
Net unrealised Gains on Investments
**Net Movement in funds**
**Reconciliation of funds**
Total Funds Brought Forward
**Total Funds Carried Forward**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total**
**2021**
**Total**
**2020**
£
£
£
£
74,544
669
75,213
78,283
25,883
25,883
19,383
6,537
6,537
7,524
12,854
12,854
12,447|
|---|---|
||119,818
669
120,487
117,637|
||3,239
3,239
3,102
117,230
288
117,518
120,255
7,606
7,606
(5,005)|
||128,075
288
128,363
118,352|
||(8,257)
381
(7,876)
(715)
33,039
33,039
5,762|
||24,782
381
25,163
5,047
370,333
878
371,211
366,165|
||395,115
1,259
396,374
371,212|
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Balance Sheet As at 31 December 2021**
|**Notes**
**Fixed Assets**
Investment assets
5
**Current Assets**
Debtors and prepayments
6
Short term deposits
Cash at Bank and in hand
**Current liabilities**
**A**mounts falling due within one year
7
**Net current assets**
**Total Assest less current liabilities**
**Funds**
**Unrestricted funds**
General funds
**Restricted funds**
Road Closure Fund
Music Group
**Total Funds**
8|**2021**
**2020**
**£**
**£**
335,278
325,458
9,793
9,588
103
103
55,743
38,798|
|---|---|
||65,639
48,489
(4,543)
(2,735)|
||61,096
45,754|
||396,374
371,212|
||395,115
370,334
425
44
834
834|
||1,259
878|
||396,374
371,212|
|These financial statements were approved on behalf of the Parochial Church|Council on|**2022**|
|---|---|---|
|Signed as approved
Steve Dixon|Chairman||
|Signed as approved
Karen Bilton|Treasurer||
|The notes on pages 11 to 17 form part of these accounts|||
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Notes to the financial statements For the year ended 31 December 2021**
## **1. Accounting policies**
## **Basis of Accounting**
The PCC is a public benefit entity within the meaning of FRS102. The financial statements have been prepared under the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006 governing the individual accounts of PCCs, and with the Regulations’ “true and fair view” provisions, and under FRS102 (2016) as the applicable accounting standards and the 2019 version of the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP(FRS102)).
The financial statements have been prepared under the historical cost convention except for investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **Going Concern**
The trustees consider that there are no material uncertainties about Holy Saviours’ ability to continue as a going concern. Overall, funds are still substantial despite having had significant costs in relation to refurbishment of the Church and Parish Hall.
## **Funds**
The Parochial Church Council maintained various types of funds as follows:
## _Restricted funds_
Restricted funds represent grants; donations and legacies received which the donor has allocated for specific purposes.
## _Unrestricted funds_
Unrestricted funds represent unrestricted income that is expendable at the discretion of the trustees in the furtherance of the objects of the church.
The accounts include all transactions, assets and liabilities for which the Parochial Church Council is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body or those that are informal gatherings of church members.
## **Income**
## _Collections_
Collections are recognised when received by or on behalf of the Parochial Church Council.
Planned giving receivable under Gift Aid is recognised only when received. Income tax recoverable on Gift Aided donations is recognised when the donation is recognised.
## _Legacies_
Grants and legacies have been recognised when the Parochial Church Council is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt is confirmed.
## _Donations_
Donations and all other receipts from (fetes, garden parties, and similar events) are reported gross and the related fundraising costs are reported in other expenditure.
## _Grants_
Grants and donations are accounted for when paid over, or when awarded, if that award creates a binding obligation on the Parochial Church Council.
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Notes to the financial statements** _**(Continued)**_ **For the year ended 31 December 2021**
_Gifts in kind and donated goods and facilities_ Donated facilities have been included at their estimated value and the corresponding expenditure included under the appropriate heading. Where there was no financial cost borne by another party for the provision of donated facilities (including donated services) then no income has been recognised.
## _Other income_
Rental income from the letting of Church premises is recognised when the rental has been received.
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
**Notes to the financial statements** _**(Continued)**_ **For the year ended 31 December 2021**
## **Activities directly relating to the work of the Church**
The diocesan parish share is accounted for when paid. The 2021 share was paid in full in the year.
## **Fixed Assets**
_Consecrated property and moveable church furnishings_
Consecrated and beneficed property of any kind is excluded from the accounts by Chapter 2, Section 10 of the Charities Act 2011.
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £1,000 or on the repair of moveable church furnishings is written off in the period in which it is incurred. Consequently, no fixed assets are currently reflected in the Parochial Church Council accounts.
When fixed assets are recognised in the Parochial Church Council accounts they would be valued over the anticipated useful economic life of the asset and depreciated on a straight-line basis.
_Other fixtures, fittings and office equipment_
Individual fixtures, fittings or items of equipment are written off when the asset is acquired.
The Parochial Church Council would consider the accounting treatment of any material expenditure on fixtures and fittings. Any amounts capitalised would be valued over the anticipated useful economic life of the asset and depreciated on a straight-line basis.
## **Investments**
Investments quoted on a recognised stock exchange or whose value derives from them are valued at market value at the year end. Other investment assets are included at PCC’s best estimate of market value.
## **Current assets**
Any material amounts owing to the Parochial Church Council at 31 December 2021 are shown as debtors less provision for amounts that may prove uncollectable.
Short term deposits are the cash held on deposit with either the CCLA or at the bank.
## **Cash flow statement**
The PCC have taken advantage of the exemption conferred by FRS 102 to dispense with the requirement to prepare a cash flow statement as the income is below £500,000.
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Notes to the Financial Statements** _**(continued)**_ **For the Year Ended 31 December 2021**
|**2**
**Incoming Resources**
**2a) Voluntary Income**
Planned Giving:
- Gift Aid donations
- Income tax recoverable
- Other Planned Giving
Collections (open plate) at all services
Sundry Donations (incl Gift Aided)
Legacies
**2b) Church Activities**
Bookstall & Publications
Letting Income
Photocopy income
Fees for Weddings
**2c) Income from Investments**
Interest and Investment income
**2d) Other**
Magazine Sales & Advertising
Fetes, bazaars & other events
Other sundry Income
Grants (HMRC Job Retention Scheme)
Insurance Claims
**Total Income**|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2021**
**2020**
£
£
£
£
49,872
49,872
49,819
13,395
13,395
15,738
4,392
4,392
4,587
5,571
5,571
5,734
1,314
669
1,983
1,405
1,000|
|---|---|
||74,544
669
75,213
78,283|
||156
156
147
13,531
13,531
10,150
28
28
31
12,168
12,168
9,055|
||25,883
25,883
19,383|
||6,537
6,537
7,524|
||6,537
6,537
7,524|
||1,636
1,636
1,571
3,819
3,819
2,745
3,455
3,455
2,574
3,944
3,944
5,557|
||12,854
12,854
12,447|
|||
||**119,818**
**669**
**120,487**
**117,637**|
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Notes to the Financial Statements** _**(continued)**_ **For the Year Ended 31 December 2021**
|**3**
**Resources Expended**
**3a) Raising Funds:**
Investment Managers costs
**3b) Church Activities**
Donations - Grants
Ministry - Diocesan Parish Share
Clergy Expenses
Other Clergy Costs
Church - Utilities
Church - Running Expenses
Church - Maintenance
Church - Insurance
Church - Photocopying
Parish Magazine Cost & Books
Upkeep of Garden
Music Costs (including Organists Fees)
Parish Hall - Utilities
Parish Hall - Insurance
Parish Hall - Cleaning Costs
Parish Hall - Repairs & Maintenance
Parish Hall - Other Running Costs
Administrator's Salary
Other Adminstration Costs
Church Fees
Parish Centre
Goverance Costs
- Audit/Accountancy
**3c) Exceptional Item**
Refurbishment Projects
(2020 - VAT refund on Porch works)
**Total expenditure**
Donations to Home Missions
& other Church Societies|**Unrestricted**
**Restricted**
**Total**
**Total**
**Funds**
**Funds**
**2021**
**2020**
£
£
£
£
3,239
3,239
3,102
2,000
2,000
2,100
288
288
65,000
65,000
65,000
3,480
3,480
2,873
6,510
6,510
5,163
2,764
2,764
3,111
519
519
3,543
4,509
4,509
4,874
1,784
1,784
1,542
1,418
1,418
1,228
4,381
4,381
4,381
3,249
3,249
3,157
1,127
1,127
1,219
352
352
1,874
229
229
1,176
96
96
540
9,476
9,476
10,146
1,017
1,017
1,015
7,589
7,589
5,415
924
924
1,310
806
806
588|
|---|---|
||117,230
288
117,518
120,255|
||7,606
7,606
(5,005)|
||7,606
7,606
(5,005)|
|||
||**128,075**
**288**
**128,363**
**118,352**|
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Notes to the Financial Statements** _**(continued)**_ **For the Year Ended 31 December 2021**
|**4**
**Staff Costs**
Admin Wages (incl Pension costs)
Vergers/Organists
Employers National Insurance
**5**
**Fixed Assets - Investments**
Listed Investments
Market Value at 1 January
Addditions to investments at cost
Disposals at Carrying Value
Revaluation of investments to market value
Market Value at 31 December
Cash held with investment managers
**6**
**Debtors**
Income Tax Recoverable
Prepayments & accrued interest
**7**
**Creditors - amounts falling due within one year**
Accruals|**2021**
**2020**
10,493
11,161
4,381
4,381|
|---|---|
||**14,874**
**15,542**|
||**2021**
**2020**
**£**
**£**
315,136
335,477
-
-
(22,930)
(26,103)
33,039
5,762|
||325,245
315,136
10,033
10,322|
||**335,278**
**325,458**|
||**2021**
**2020**
**£**
**£**
2,813
3,408
6,980
6,180|
||9,793
9,588|
||**2021**
**2020**
**£**
**£**
4,543
2,735|
-16-
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF TYNEMOUTH PRIORY HOLY SAVIOUR, TYNEMOUTH**
## **Notes to the Financial Statements** _**(continued)**_ **For the Year Ended 31 December 2021**
## **8 Statement of Funds**
|**Unrestricted Funds**
General
**Restricted Funds**
Remembrance Day Road Closure
Music Group
Total funds|**Opening**
**funds**
**Incoming**
**resources**
**Outgoing**
**resources**
**Investment**
**gains**
**Closing**
**funds**
£
£
£
£
£
370,333
119,818
128,075
33,039
395,115
44
669
288
425
834
834|
|---|---|
||371,211
120,487
128,363
33,039
396,374|
The restricted funds comprise:
The Remembrance Day Road Closure Fund was set up with donations specifically to fund the cost of holding the Remembrance Day service on the Village green.
The Music Group raised funds to fund the purchase of music and other overheads that arise through the running of this activity.
## **9 Analysis of Net Assets by Funds**
|Investment
Current Assets
Current Liabilities|**Unrestricted**
**Funds**
**Restricted**
**funds**
**Total**
**funds**
**£**
**£**
**£**
335,278
335,278
64,381
1,259
65,639
(4,543)
(4,543)|
|---|---|
||395,115
1,259
396,374|
## **10 Related Party Transactions**
No payments or expenses were paid to any PCC member, persons closely connected to them or related parties.
-17-