Charity registration number: 1132704
## The Parochial Church Council of The Ecclesiastical Parish of St.John and St.Martin (Beverley Minster)
Annual Report and Financial Statements For the Year Ended 31 December 2022
1
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Contents**
Admin and reference details……………………………………………………………………………………………………………………………3 Trustees Report for the Year Ended 31 December 2022 ...................................................................................... 4 Statement of Trustees’ Responsibilities ............................................................................................................. 11 Independent Examiner’s Report to the Trustees of the Parochial Church Council of The Ecclesiastic Parish of St. John and St. Martin (Beverley Minster) ......................................................................................................... 12 Statement of Financial Activities for the Year Ended 31 December 2022 .......................................................... 13 Balance Sheet as at 31 December 2022.............................................................................................................. 14 Statement of Cash Flows for the Year Ended 31 December 2022 ...................................................................... 15 Notes to the Financial Statements for the Year Ended 31 December 2022 ....................................................... 16
2
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Reference and Administrative Details**
**Incumbent**
Rev’d Canon Jonathan Baker
**Principal Office**
The Parish Centre 38 Highgate Beverley HU17 0DN
**Charity Registration Number**
1132704
**Bankers**
**Minster** Barclays Bank PLC 4 North Bar Within Beverley HU17 8AY
CCLA Investment Management Ltd The CBF Church of England Funds Senator House 85 Queen Victoria Street London EC4V 4ET
**St. Leonard’s** Virgin Money 10-12 Paragon Street Hull HU1 3ND
**St. Peter’s** NatWest 60 Market Place Beverley HU17 8AA
**The Church in Tickton**
**Independent Examiner**
Virgin Money 10-12 Paragon Street Hull HU1 3ND Jessica Lawrence Azets Audit Services Limited 33 Park Place Leeds LS1 2RY
**Accountants**
Dymond Chartered Accountants Chartered Accountants Office F1, Beverley Enterprise Centre, Beck View Road, Beverley, HU17 0JT
3
**The Parochial Church Council of the Ecclesiastical Parish of St. John and**
## **St. Martin (Beverley Minster)**
## **Trustees Report for the Year Ended 31 December 2022**
The Trustees present the annual report and financial statements of the charity for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) as detailed in the accounting policies.
## **Objectives and activities**
Beverley Minster is a cathedral-scale medieval Greater Church and the largest parish church building in the Church of England. It is part of the Diocese of York and a member of the Association of Major Churches. The Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent, the Reverend Canon Jonathan Baker, in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. This includes the mission of the Minster’s daughter churches of St. Leonard’s, Molescroft, St. Paul’s, Tickton (as part of the Church in Tickton, an Anglican Methodist Local Ecumenical Partnership), and St. Peter’s, Woodmansey. Each of these has a Management Committee which is elected annually by its congregation and reports to the PCC. Further, the PCC is responsible for the upkeep and use of the Parish Hall, Emmaus Room, Peter Harrison Room and the Parish Centre in Highgate.
## **Public Benefit**
The Trustees can confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. The PCC believes that by working with the Vicar and cooperating in all matters of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical, the Minster, with its daughter churches, provide a benefit to the public by:
- Providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for its members and anyone who wishes to benefit from what the church offers
- Promoting Christian values and service by members of the churches in the Parish to their communities, to the benefit of individuals, families and society as a whole
The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community. The PCC and clergy team maintain an overview of worship throughout the parish and suggest how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
We warmly invite new volunteers to join those who already share in the Minster’s work. Our report on Vision and Strategy, below, has more information about the opportunities that have been created
## **Statutory and Legal Requirements**
The PCC strives to comply with Church of England guidelines, including those on safeguarding children and vulnerable adults, Charity Commission regulations, accountancy practice and procedures, Health and Safety requirements and all other legislation relating to the conduct of its affairs.
## **Achievements and Performance**
## **Electoral roll and church attendance.**
There were 284 members on the electoral roll presented at the 2022 APCM (285 in 2021).
4
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Trustees Report for the Year Ended 31 December 2022**
Average attendance at the Minster and associated churches is shown below. Comparisons with 2021 are meaningless as our churches were closed or restricted for worshippers for much of that year due to the government’s Covid restrictions.
|Beverley Minster
Children under 16 years of age
St Leonard’s, Molescroft
Children under 16 years of age
The Church in Tickton
Children under 16 years of age
St Peter’s, Woodmansey
Children under 16 years of age
Total
Communicants at Easter and Christmas
Beverley Minster
St Leonard’s, Molescroft
The Church in Tickton
St Peter’s, Woodmansey
Total|**2022**
168
29
30
1
14
3
8
0
253
**Easter Day**
**Christmas Day**
203
366
41
38
26
0
21
18|
|---|---|
||291
422|
Conducting weddings, funerals & baptisms is an important element in the life of the church and makes a valuable contribution to the wider community.
In 2022, we conducted 17 weddings, 33 funerals and 33 baptisms.
## **Vision and Strategy**
The Minster’s Vision is derived from that of the Diocese of York’s ‘Living Christ’s Story’, which seeks to **become more like Christ** , to **reach people we currently don’t** , and to **grow as a church of missionary disciples** . It is part of the Deanery of Beverley which launched its own Deanery Plan in 2022.
In the autumn of 2021, the Minster PCC launched a Vision Strategy detailing 14 ambitious workstreams seeking to improve the work of the Minster across a very broad spectrum of activity. In 2022 these workstreams led to initiatives in the following areas:
- A new Prayer Team offering daily prayers and chaplaincy in the Minster, regular prayer meetings and training, and prayer for those in need.
- A programme of Quiet Days through the year with visiting speakers.
- A Pastoral Team offering contact with those in need, Home Communions, services in Care Homes, emergency support, bereavement support and a friendship group for those alone.
- A new congregation called @9.15 which meets every Sunday and has an informal, contemporary style aimed at adults and those without a traditional church background.
- A new congregation called The Crossing which meets every Sunday afternoon and is aimed at families with pre-school children, many of whom are on the edge of church life.
- A monthly Taizé Service attracting folk from across the area.
- Weekly Collective Worship led by the Minster team across four local Primary Schools.
- A monthly informal worship service called Encounter piloted on behalf of the Deanery.
- A strong online presence in which most Minster services are livestreamed.
- A partnership with Christian homelessness charity ‘Hope Into Action’ which has seen the purchase of a first house for supported tenants.
- A programme of school visits and workshops in the Minster run by grant-funded Learning and Engagement Officers and our own team of retired teachers.
- A mother and first baby group set up during the pandemic.
5
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Trustees Report for the Year Ended 31 December 2022**
-
-
- A gradually growing range of social events.
- Investment in existing small groups to support growth in discipleship.
- Online preparation for Baptisms and Weddings which has led to better engagement with the families and couples concerned.
- An active EcoChurch group running events to raise awareness of the environmental crisis as a spiritual and discipleship issue.
- Support group for Ukrainian refugees.
- These new activities have grown up in addition to existing commitments such as:
- 5/6 traditional services every Sunday across the parish.
- A thriving Minster choir with around 70 members, of whom 40+ are children.
- A Junior Choir with 15 or so under-5s.
- A ministry of hospitality which sees the Minster open 364 days a year, welcoming 60,000+ visitors to the Minster.
- A profitable shop run by a part-time manager and 40+ volunteers.
- A range of volunteer-led activities including: Bell ringing, Gardening, Cleaning, Office work, Website and Social Media, Music, Stewarding, Welcoming, Leading Tours, Shop, Virging, PCC, Churchwardens, Finance and Fundraising, Youth and Children’s work, Time Out, Embroidery, Serving Coffee, Enterprise/events organising, Sidesteam, Christmas Tree Festival, Foodbank, Hope into Action, Pastoral Care, Prayer Team, Eco-Faith team, Readers, leading worship, flower arranging, catering, publicity and design, leading house groups, Choir Tour organising, setting up and livestreaming services, exhibitions, hosting Warm Spaces, Home Communions, laundry.
- A programme of concerts and events serving the wider community including Heritage Open Days, County Choir concerts and an annual Christmas Tree Festival attracting around 10,000 people.
- A programme for families and children including Time Out (mums and tots), Me and My Dad (dads and tots), youth group, Sunday school groups, termly family days in the Minster.
- Support for the local food bank and other charities.
- Network of house groups to provide pastoral and spiritual support for congregation members.
Additionally in 2022 we welcomed thousands to the Minster to celebrate HM The Queen’s Platinum Jubilee with special services and community events, and then again in September to sign Books of Condolence and attend commemorative events around the Queen’s funeral, including livestreaming the service from Westminster Abbey.
## **Financial Review**
The full year surplus of £146k compares with a deficit of (£37k) for 2021 – a swing of £183k. So good progress.
Income was up 28% to £622k from 2021, largely due to 2 generous bequests totalling £88k split equally between the Minster and St Peter’s. Planned Giving increased by some 3% and Donations from Visitors improved year on year. Growth and development with Concerts and Events were notable with improvement on an ongoing basis.
Expenditure was cut by 9% to £476k in 2022. The main explanation for this was the reduction in the Free Will Offer to the Diocese from £130k in 2021 to £65k in 2022. The Free Will Offer will be increased to £79k for 2023. We were fortunate in fixing our gas costs from January 2021 to December 2026 and, with the assistance of the Diocese, have largely avoided the spike in energy costs linked to global events. We have not cut any human resources.
Adjusting the 2022 financial result by taking out the benefits of four one-off gains (halving the prior year Free Will Offer to the Diocese; two unrestricted bequests to the Minster and to St Peter’s; a restricted donation of £16k) the 2022 underlying financial result would have been a financial loss of (£23k). Careful stewardship of our finances will therefore continue to be very important, and we will need to face up to addressing more challenging initiatives to increase Income.
6
## **The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Trustees Report for the Year Ended 31 December 2022**
The PCC faces a threat in connection with 3 of the 4 outer buildings it owns: the Parish Hall, the Parish Centre and the Peter Harrison room. Current cost estimates total some £294k to restore these to ‘wind and watertight’ with little or no enhancement. The Cash Reserves of the PCC are insufficient to fund this work and an evaluation is underway to sell a fixed asset.
The ‘Interpretation’ element of the Sanctuary Project, linked to the roof repairs of the Lessor South Transept roof, concluded in November 22. The Nave roof repairs completed in the prior year and there were no further capital works undertaken in 2022.
We have made a number of adjustments to the Funds in the Balance Sheet and we believe they now more accurately reflect the true position of our Restricted and Unrestricted Funds. These are explained in Note 21.
Our Financial Accountant was changed from Westland Accountants to Dymond Chartered Accountants in April 2022. Philippa Milner was appointed Financial Assistant in October 2022.
## **Reserves Policy**
Due to the nature of the charity, its reliance on donations as income and the inerrant unpredictability of legacy income, the trustees consider that six months forward expenditure is the minimum level of reserves required to cover current running costs and are comfortable with a level in excess of this. Current monthly running costs are approximately £38,000. The level of free reserves at 31[st] December 2022 is £319,620, which equates to around eight months forward expenditure which is above the free reserves target. This policy is reviewed every quarter at the finance committee meeting.
## **Investment Policy**
Funds are placed in low and medium risk ethical investments with the objective of receiving income. The investment policy is to achieve a rate of return, based on the current value of investments, of at least 1% more than the prevailing rate on the Church of England Deposit Account.
## **Principal risks facing the charity**
## _**Financial risk**_
The day-to-day management of financial risk is delegated by the PCC to the PCC Finance Committee, and it is this Committee that is responsible for reviewing the PCC's annual budget. The Treasurer circulates quarterly management accounts to the Committee, showing the financial position compared to the previous year and budget, and a forecast outturn for the year.
## _**Reputational risk**_
This can be minimised by encouraging best practice in all aspects of the Parish's management, thereby reducing the risk of inappropriate actions which could have a damaging effect on the Parish. This extends both to staff and volunteers, all of whom need to be familiar with their duties and adhere to laid down procedures.
## _**Operational risk**_
The PCC believes that the Operational Risk to the Parish is relatively low. There is ongoing concern over the fabric of the Minster, the day-to day repairs of which is delegated annually to a separate charity, Beverley Minster Old Fund. Of most immediate concern is the condition of the roofs and the east and west stained-glass windows. The estimated total cost of these repairs is approximately £8m. To help raise these funds a separate charity was formed in 2019, Two Churches One Town, which, together with St Mary’s in Beverley, have benefited by some £5m towards restoration costs of both churches in a ten-year plan.
The PCC faces an operational risk in connection with the restoration of 3 of the 4 outer buildings it owns: the Parish Hall, the Parish Centre and the Peter Harrison room. Current cost estimates total some £294k to restore these buildings. The Cash Reserves of the PCC are insufficient to fund this work and an evaluation is underway to sell a fixed asset.
7
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Trustees Report for the Year Ended 31 December 2022**
## **Structure, Governance and Management**
The Ecclesiastical parish of St. John and St. Martin (Beverley Minster) is a parish within the Church of England as defined by Canon Law. Individual parishes within the Church of England do not have a separate constitution, but work within the framework of Church of England Ecclesiastical Law, consisting of the Parochial Church Powers Measure (1956) and the Church Representation Rules. Charitable status was received on 13 November 2009.
## **Committees**
The Parochial Church Council meets regularly and operates through committees which meet between full meetings of the PCC and as necessary to conduct relevant, urgent or minor business.
**Standing Committee:** meets only as needed to transact urgent business. It comprises: The Vicar
The Churchwardens The Deputy Churchwardens The Deputy Chairman of the PCC The Treasurer The PCC Secretary (non-voting)
**Finance Committee:** advises on financial matters and gives detailed scrutiny to financial affairs
**Vision Steering Group** : advises on implementation of the 2021 Vision Strategy
**Mission Action Committee:** advises on partnerships with local, national and international charities and mission agencies
**Plant and Facilities Committee** : advises on property issues, manages and maintains PCC property
**Enterprise Committee:** has an overview of all income generation, and "outward facing" parts of the Minster's life
**HR Committee** : reviews the terms and conditions under which staff are employed and advises on staffing issues
## **PCC Membership - List of members as at 31[st] December 2022**
_Ex-Officio Clergy:_ Rev’d Canon Jonathan Baker Rev’d Wendy Wale
_Churchwardens_
Paul Collins Sarah Merrell Sandra King Dawn Pollard Jane Chipperton
_Wardens of the Daughter Churches_ Andrew Hancock (St. Leonard’s Molescroft) Dawn Pollard (St. Peter’s Woodmansey) Kate Powell (St Paul’s Tickton)
_Deanery Synod members – elected until 2024_ Dawn Pollard Eric Doyle
_PCC Members elected until 2023_ Rod McPhee
8
## **The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Trustees Report for the Year Ended 31 December 2022**
Naomi Merriweather Richard Powell Sue Robson Joyce Shaw _Elected until 2024_ Meg Choules Catherine Drake Hugh Meyer Jerome Robertson Marian Snowden
_Elected until 2025_ Rachel Collins Mike Dent Jane Ewbank Marjorie Neaum Kevin Wheeldon
_Co-opted_ Tim Carlisle
Members of the PCC can be contacted by writing to them at The Parish Centre 38 Highgate Beverley HU17 0DN
## **Officers**
Chair: The Vicar Vice Chairman: Rod McPhee Treasurer: Steve George (resigned 24 May 2022) Tim Carlisle (appointed 24 May 2022) Secretary to the PCC: Martin Eldred Electoral Roll Officer: Martin Eldred
The number of elected laity is decided by the numbers on the electoral roll. Members serve for three years, five retiring at each Annual Parochial Church Meeting to be replaced or re-elected.
## **Beverley Minster Shop Ltd**
The PCC is the beneficial owner of 100% of the issued Share Capital of Beverley Minster Shop Ltd and exercises its control through nominee directors appointed by the PCC. All profits of the Company are covenanted to, and transferred to, the PCC for the unrestricted benefit of Beverley Minster. The financial result of Beverley Minster Shop Ltd is included in the PCC’s financial statements, in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice SORP (FRS 102) 2019.
## **Independent Trusts**
Beverley Minster has an involvement with a number of independent trusts of charities and in no case are their accounts included in these financial statements.
1. Vicar and Churchwardens: This is administered separately by the Incumbent and Churchwardens. 2. Hallgarth Field: This is vested in the York Diocesan Board of Finance as Custodian Trustees with the Vicar and Churchwardens of Beverley Minster as Administrative Trustees.
9
## **The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Trustees Report for the Year Ended 31 December 2022**
3. Beverley Minster Old Fund: An independent charity (Reg no. 224208) with an endowment established in 1579 by Queen Elizabeth I for the maintenance of the building. Its charitable objects are: The Repair, restoration and maintenance of Beverley Minster. It is managed by Independent Trustees and is not a responsibility of the PCC. The PCC’s powers and responsibilities in respect of repairs and maintenance of the historic fabric of Beverley Minster are delegated annually to the Beverley Minster Old Fund.
4. The Friends of Beverley Minster: An independent charity (Reg no. 501302). Its charitable objects are: The preservation and adornment of Beverley Minster and the general maintenance of the Minster, its activities and services, its ornaments and furnishings; To make gifts to the Minster which may be acceptable to the PCC To promote public interest in the Minster its history and its work. It is managed by Independent Trustees and is not a responsibility of the PCC.
5. The Canon Nolloth Trust was registered with the Charity Commission on 12 September 1963 and is administered by the Diocese of York.
6. The John Cooper Melling fund was established in 2001 to be used for Children’s and Youth Ministry projects at Beverley Minster. The fund, which receives donations from members of the Melling family, is administered by the Incumbent and Youth Minister.
## **Churchyard**
The Minster Churchyard is 'closed' to further burials and under the Local Government Act 1972, it is now the responsibility of East Riding of Yorkshire Council to maintain the Church's grounds, paths etc. The Churchyard at Tickton remains open.
It is recommended that the Annual Report and Financial Statements for the year ended 31[st] December 2022 be adopted and approved for submission to the Annual Parochial Church Meeting. The annual report was approved by the Standing Committee of the PCC with delegated authority from the Trustees of the charity, on 26/05/2023 ……………………… and signed on its behalf by:
………………………………. Rev’d Canon Jonathan Baker **Chair of Trustees**
……………………………….
Tim Carlisle **Trustee and Treasurer**
10
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Statement of Trustees’ Responsibilities**
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis, it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
11
**The Parochial Church Council of the Ecclesiastical Parish of St. John and**
## **St. Martin (Beverley Minster)**
## **Independent Examiner’s Report to the Trustees of the Parochial Church Council of The Ecclesiastic Parish of St. John and St. Martin (Beverley Minster)**
I report on the accounts of the charity for the year ended 31 December 2022 which are set out on pages 13 to 35.
This report is made solely to the charity's Trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my independent examination work, for this report, or for the opinions I have formed.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
………………….. Jessica Lawrence
## 27/05/2023
## **Azets Audit Services Limited**
33 Park Place Leeds LS1 2RY
12
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Statement of Financial Activities for the Year Ended 31 December 2022**
|**Note**
**Income and Endowments from:**
Donations and legacies
**2**
Charitable activities
**3**
Other trading activities
**4**
Investments
**5**
Other income
**5**
**Total income**
**Expenditure on:**
Raising funds
**6**
Charitable activities
**7**
**Total expenditure**
**Net income/(expenditure)**
**before transfers**
Transfers between funds
**Other recognised (losses)/gains**
Gain/loss on revaluation of
investments
**14**
**Net movement in funds**
Total funds brought forward
**Total funds carried**
**forward**
**21**|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**funds**
**£**
**Total**
**funds 2022**
**£**
**Total**
**funds 2021**
**£**
405,516
20,578
-
426,094
375,996
39,164
-
-
39,164
31,014
106,490
-
-
106,490
59,250
30,329
-
-
30,329
19,266
19,600
-
-
19,600
-|
|---|---|
||601,098
20,578
-
621,676
485,526
(17,378)
-
-
(17,378)
(9,348)
(409,052)
(47,154)
(2,298)
(458,504)
(513,660)|
||(426,430)
(47,154)
(2,298)
(475,882)
(523,008)
174,669
(26,576)
(2,298)
145,795
(37,482)
100,531
(111,454)
10,923
-
-|
||(53,578)
-
-
(53,578)
34,142
221,621
(138,030)
8,625
92,217
(3,340)
1,074,487
398,938
589,356
2,062,781
2,066,121|
||1,296,108
260,908
597,981
2,154,998
2,062,781|
A full comparative SOFA can be found at note 30 to these financial statements.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
13
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **(Registration number: 1132704) Balance Sheet as at 31 December 2022**
|**Fixed assets**
**Note**
Tangible assets
**13**
Investments
**14**
**Current assets**
Stocks
**15**
Debtors
**16**
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
**17**
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
**18**
**Net assets**
**Funds of the charity:**
Endowment funds
Restricted funds
Unrestricted funds
**Total funds**
**21**|**2022**
**£**
**2021**
**£**
1,425,155
1,430,570
410,222
453,020|
|---|---|
||1,835,377
1,883,590|
||3,535
4,236
61,591
36,494
318,974
176,516|
||384,100
217,246
(64,479)
(37,605)|
||319,621
179,641|
||2,154,998
2,063,231
-
(450)|
||2,154,998
2,062,781|
||597,981
589,356
260,908
398,938
1,296,108
1,074,487|
||2,154,998
2,062,781|
The financial statements on pages 13 to 35 were approved by the Trustees, and authorised for issue 9 May 2023 and signed on their behalf by:
………………………………………. Tim Carlisle **Honorary Treasurer**
………………………………….
Rev’d Canon Jonathan Baker **Chair of Trustees**
14
## **The Parochial Church Council of the Ecclesiastical Parish of St. John and**
## **St. Martin (Beverley Minster)**
## **Statement of Cash Flows for the Year Ended 31 December 2022**
|**Note**
**Cash flows from operating activities:**
Net cash provided by/(used in) operating activities
**29**
**Cash flows from investing activities:**
Investment income received
Purchase of investments
Cost of fixed asset additions
**Net cash provided by investing activities**
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2022**
**£**
**2021**
**£**
151,595
(93,719)|
|---|---|
||19,549
19,266
(10,780)
(1,238)
(17,907)
(17,386)|
||(9,138)
642
142,457
(93,077)
176,516
269,593|
||318,973
176,516|
15
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **1. Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Charity Information**
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster) is a charity registered in England and Wales (charity registration number 1132704). The correspondence address is The Parish Centre, 38 Highgate, Beverley, HU17 0DN.
## **Accounting Convention**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
The Parochial Church Council of the Ecclesiastical Parish of St John and St Martin (Beverley Minster) meets the definition of a public benefit entity under FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investments and certain fixed assets at fair value. The principal accounting policies adopted are set out below.
## **Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future and not less than one year from the date of approval. The charity has no borrowings however does rely on the general goodwill of the public for much of it’s income, as such the pandemic could give rise to a material fluctuation in results and some uncertainty in regard to going concern, however this is being constantly monitored.
## **Income and endowments**
Voluntary income of legacies that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## **Donations and legacies**
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## **Grants receivable**
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
16
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Deferred income**
Deferred income represents amounts received for future periods and is released to incoming resources in the period for which it has been received. Such income is only deferred when:
The donor specifies that the grant or donation must only be used in future accounting periods; or the donor has imposed conditions which must be met before the charity has unconditional entitlement.
## **Investment income**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings, they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## **Raising funds**
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
## **Charitable activities**
Items of expenditure are charged to the Statement of Financial Activities on an accruals basis. The offer to the Diocese is charged as paid, usually monthly, although the commitment is for a full year.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustees’ meetings and reimbursed expenses.
## **Taxation**
The charity is a registered charity and therefore it’s income and gains are exempt from taxation to the extent that they are applied for charitable purpose.
## **Tangible fixed assets**
## _**Consecrated property and movable church furnishings**_
Consecrated and beneficed property of any kind is excluded from the accounts by S.10(2)(a) of the Charities Act 2011. No value is placed on movable church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred in the year on consecrated or beneficed buildings and movable church furnishings, whether maintenance or improvement, is written off to the income statement in the year of expenditure.
## _**Other freehold land and buildings**_
The Church Hall, Peter Harrison Room, Parish Centre and the residential property at 23 Outer Trinities were professionally valued in April 2019 by John English BSc M.R.I.C.S, an independent Chartered Surveyor. The land and properties were revalued on the basis of open market value.
The Trustees do not consider that the value of freehold land and buildings is materially different to the professional valuation as at 31 December 2022.
## _**Office and other equipment**_
Equipment used within the church premises is generally depreciated on a straight line basis over 4 or 5 years. Individual items with a purchase price of £1,000 or less are written off to the income statements when the asset is acquired.
17
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Depreciation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life.
## **Fixed asset investments**
Fixed asset investments are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Funds are placed in low and medium risk ethical investments with the objective of receiving income. The investment policy is to achieve a rate of return, based on the current value of investments, of at least 1% more than the prevailing rate on the Church of England Deposit Account.
## **Stock**
Stocks relate to the cost of the choir and organ CD’s held by the Director of Music. Stocks are stated at the lower of cost and estimated selling price.
## **Financial instruments**
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## **Trade debtors**
Amounts owing to the PCC at the 31[st] December, in respect of fees, rents or other income are shown as debtors less provisions for amounts that may prove uncollectable.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities, if they do not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
18
**The Parochial Church Council of the Ecclesiastical Parish of St. John and**
## **St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Fund structure**
_**Unrestricted funds:**_ represent the funds of the PCC that are not subject to any restrictions regarding their use. Funds designed for a particular purpose by the PCC are also considered to be unrestricted.
_**Designated funds:**_ represent unrestricted funds set aside for specific purposes at the discretion of the Trustees. _**Restricted funds:**_ are funds which can only be used as specified by a donor or when funds are raised for a particular purpose.
_**Endowment funds**_ : are a form of restricted fund where the donor has specified that only the income from the money or asset donated can be spent. The original asset (the ‘capital’) cannot normally be spent. The donor of the endowment fund specifies the use to which the income can be put, so it can be more restricted than for the general purposes of the PCC.
## **Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **Leases**
Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
19
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **2. Income from donations and legacies**
|**For the year to 31 December 2022**
Donations
Visitor box donations
General collections
Planned giving
Gift aid reclaimed
Donations for refreshments
Donations for prayer candles
Bequests
Grants, including capital grants
**For the year to 31 December 2021**
Donations
Visitor box donations
General collections
Planned giving
Gift aid reclaimed
Donations for refreshments
Donations for prayer candles
Bequests
Grants, including capital grants|**Unrestricted**
**funds**
**General**
**£**
**Restricted**
**funds**
**£**
**Total**
**2022**
**£**
57,722
20,578
78,300
20,295
-
20,295
48,931
-
48,931
108,893
-
108,893
56,492
-
56,492
3,132
-
3,132
10,061
-
10,061
94,600
-
94,600
5,390
-
5,390|
|---|---|
||405,516
20,578
426,094|
||**Unrestricted**
**funds**
**General**
**£**
**Restricted**
**funds**
**£**
**Total**
**2021**
**£**
17,993
10,000
27,993
11,901
-
11,901
42,649
-
42,649
106,478
-
106,478
29,699
-
29,699
290
-
290
5,194
-
5,194
1,608
-
1,608
20,484
129,700
150,184|
||236,296
139,700
375,996|
## **3. Income from charitable activities**
|**For the year to 31 December 2022**
Lettings
Rents
Church fees
Mission income
Sundry income|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2022**
**£**
8,747
-
8,747
14,050
-
14,050
12,539
-
12,539
-
-
-
3,828
-
3,828|
|---|---|
||39,164
-
39,164|
20
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
**Income from charitable activities (continued)**
|**For the year to 31 December 2021**
Lettings
Rents
Church fees
Mission income
Sundry income
**come from other trading activities**
**For the year to 31 December 2022**
**_Trading:_**
Donation from Beverly Minster Shop
**_Events income:_**
Concerts, events and recitals
Photography permits
Other fundraising income
**For the year to 31 December 2021**
**_Trading:_**
Donation from Beverly Minster Shop
**_Events income:_**
Concerts, events and recitals
Photography permits
Other fundraising income|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2021**
**£**
6,093
-
9,093
12,031
-
12,031
11,944
-
11,944
550
-
550
396
-
396
31,014
-
31,014
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2022**
**£**
25,000
-
25,000
76,170
-
76,170
2,315
-
2,315
3,005
-
3,005
106,490
-
106,490
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2021**
**£**
30,000
-
30,000
8,721
-
8,721
1,764
-
1,764
18,765
-
18,765|
|---|---|
||59,250
-
59,250|
**4. Income from other trading activities**
21
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **5. Investment income and other income**
|**For the year to 31 December 2022**
**Investment income**
_Income from dividends:_
Dividends receivable
_Interest receivable:_
Other interest receivable
**Other income**
Free Will Offer Contribution
**For the year to 31 December 2021**
**Investment income**
_Income from dividends:_
Dividends receivable
_Interest receivable:_
Other interest receivable
**Expenditure on raising funds**
**For the year to 31 December 2022**
Cost of generating voluntary income
Concert and events costs
Other trading and fundraising costs
Allocated support costs
**For the year to 31 December 2021**
Cost of generating voluntary income
Concert and events costs
Other trading and fundraising costs
Allocated support costs|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2022**
**£**
24,781
-
24,781
5,548
-
5,548
30,329
-
30,329
19,600
-
19,600
19,600
-
19,600
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2021**
**£**
10,096
8,145
18,241
1,018
7
1,025
11,114
8,152
19,266
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2022**
**£**
-
-
-
17,378
-
17,378
-
-
-
-
-
-
17,378
-
17,378
**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2021**
**£**
1,244
-
1,244
7,840
-
7,840
178
-
178
86
-
86
9,348
-
9,348|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2022**
**£**
24,781
-
24,781
5,548
-
5,548|
|---|---|---|
|||30,329
-
30,329|
|||19,600
-
19,600|
|||19,600
-
19,600|
|||**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Total 2021**
**£**
10,096
8,145
18,241
1,018
7
1,025|
|||11,114
8,152
19,266|
## **6. Expenditure on raising funds**
22
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **7. Charitable activities**
|**For the year to 31 December 2022**
Wages and salaries
Social security
Pension costs
Clergy expenses and housing costs
Visitor ministry
Outreach
Youth and Children’s ministry (excluding
payroll costs)
Allocated support costs
Parish Hall and rooms
Cost of services and worship
Building project costs
Mission and charitable giving
Contribution to Diocese common fund
Church and minster running costs
Mission costs
Governance and support costs (Note 8)
**Total cost of charitable activity**
**For the year to 31 December 2021**
Wages and salaries
Social security
Pension costs
Clergy expenses and housing costs
Visitor ministry
Outreach
Youth and Children’s ministry (excluding
payroll costs)
Allocated support costs
Parish Hall and rooms
Cost of services and worship
Building project costs
Mission and charitable giving
Contribution to Diocese common fund
Church and minster running costs
Mission costs
Governance and support costs (Note 8)
**Total cost of charitable activity**||**General**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**funds**
**£**
**Total**
**2022**
**£**
138,069
31,597
-
169,666
9,171
-
-
9,171
3,485
-
-
3,485
-
-
2,298
2,298
1,170
-
-
1,170
-
-
-
-
73
-
-
73
22,267
-
-
22,267
8,769
-
-
8,769
16,511
-
-
16,511
-
3,823
-
3,823
10,404
-
-
10,404
65,000
-
-
65,000
121,931
11,734
-
133,665
-
-
-
-|
|---|---|---|
|||396,850
47,154
2,298
446,302|
|||12,202
-
-
12,202|
|||409,052
47,154
2,298
458,504|
|||**General**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**funds**
**£**
**Total**
**2021**
**£**
105,476
38,663
-
144,139
10,143
-
-
10,143
3,327
-
-
3,327
-
-
688
688
231
-
-
231
-
-
-
-
257
-
-
257
16,044
-
-
16,044
14,370
-
-
14,370
12,798
-
-
12,798
1,174
91,507
-
92,681
7,425
-
-
7,425
129,997
-
-
129,997
63,853
6,953
-
70,805
-
-
-
-|
|||365,094
137,123
688
502,905|
|||10,755
-
-
10,755|
|||375,849
137,123
688
513,660|
23
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **8. Analysis of governance and support costs**
|Accountancy and Independent examination
Other governance costs
Accountancy and Independent examination
Other governance costs|**Unrestricted funds**
**General**
**£**
**Restricted**
**funds**
**£**
**Total**
**2022**
**£**
11,221
-
11,221
981
-
981|
|---|---|
||12,202
-
12,202|
||**Unrestricted funds**
**General**
**£**
**Restricted funds**
**£**
**Total**
**2021**
**£**
2,640
-
2,640
8,115
-
8,115|
||10,755
-
10,755|
## **9. Net income/(expenditure)**
|T||**Total**|**Total**||
|---|---|---|---|---|
||This is stated after charging/(crediting)|**2022**|**2021**||
|||**£**|**£**||
||Independent examiner’s fees|2,520||2,640|
||Depreciation of fixed assets|28,856||19,562|
**10. Trustees remuneration and expenses** No Trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No Trustees have received any reimbursed expenses or any other benefits from the charity during the year.
The Trustees are considered to be the key management of the charity.
## **11. Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were**
Wages and salaries
Social security costs
Pension costs|**Total**
**2022**
**£**
**Total**
**2021**
**£**
169,666
144,139
9,171
10,143
3,485
3,327|
|---|---|
||182,322
157,609|
The average number of persons (including senior management team) employed by the charity during the year were as follows:
|**Total staff**|**2022**
**No.**
**2021**
**No.**|
|---|---|
||11
9|
No employee received emoluments of more than £60,000 (2021 – no employee) during the year.
24
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **12. Taxation**
Beverley Minster is a registered charity and as such is a charity within the meaning of Schedule 6 of the Finance Act 2010. Accordingly, the Charity is potentially entitled to tax exemption under part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising.
## **13. Tangible fixed assets**
|**Cost**
At 1 January 2022
Additions
Revaluation
At 31 December 2022
**Depreciation**
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021|**Land and buildings**
**£**
**Furniture and**
**equipment**
**£**
**Total**
**£**
1,140,000
441,816
1,581,816
-
17,907
17,907
-
-
-|
|---|---|
||1,140,000
459,723
1,599,723|
||-
151,246
151,246
-
23,321
23,321|
||-
174,567
174,567|
||1,140,000
285,155
1,425,155|
||1,140,000
290,570
1,430,570|
The value of unrestricted freehold property included above is £630,000 (2021 - £630,000).
## **Revaluation**
The fair value of the Charity’s land and buildings was revalued on 3[rd] April 2019 by John English Bsc M.R.I.C.S a chartered surveyor, an independent surveyor. The trustees are of the opinion that there is no material change at 31[st] December 2022.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £917,500 (2021 - £917,500).
The company’s land and buildings include The Church Hall (including the Emmaus Room), Peter Harrison Room, Parish Centre and 23 Outer Trinities which are included at their 2019 valuation.
Changes in valuations are shown as unrealised gains or losses, which are respectively credited to or charged within the Statement of Financial Activities (SOFA).
25
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **14. Fixed asset investments**
|**Cost or valuation**
At 1 January 2022
Revaluation
Disposals
Additions
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021|**Investment in**
**Subsidiary**
**£**
**Quoted**
**Investments**
**£**
**Total**
**£**
25,000
428,020
453,020
-
(53,578)
(53,578)
-
-
-
-
10,780
10,780|
|---|---|
||25,000
385,222
410,222|
||25,000
385,222
410,222|
||25,000
428,020
453,020|
Investments which are included at their market value as at 31 December 2022 have a historic cost of £337,883 (2021 £327,103).
|Interest received from Bank and other Deposit Accounts
Dividends received from P.C.C investments
The investments earned a gross rate of return on market value of|**2022**
**£**
**2021**
**£**
5,548
1,025
14,001
18,241|
|---|---|
||19,549
19,266|
||2.75%
3.4%|
The PCC receives half the income from the Estate of Grace Farrar deceased, but does not hold or control the investments, which are administered by the Diocese of York. The total value of the investments was £352,959 which generated a total income of £9,731 (2021 - £9,582) a return of 2.75% (2021 - 3%). The income was divided equally between the PCC and Beverley Minster Old Fund.
26
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Details of undertakings**
Details of the investments in which the charity holds 20% or more of the nominal value of any class of share capital are as follows:
|**Undertaking**|**Country of**|**Holding**|**Proportion of voting**|**Principal activity**|
|---|---|---|---|---|
||**incorporation**||**rights and shares**||
||||**held**||
|**Subsidiary undertakings**|||||
|Beverley Minster Shop Limited|England and|Ordinary|100%|Other retail sale of new|
|(company number 04103161)|Wales|||goods in specialised|
|||||stores|
The profit for the financial period of Beverley Minster Shop Limited was £25,064 (2021: £31,515) and the aggregate amount of capital and reserves at the end of the period was £25,000. The Beverley Minster Shop Limited profit of £25,064 was donated to Beverley Minster.
## **15. Stock**
|Stocks
**16.**
**Debtors**
Trade debtors
Prepayments
Accrued income
VAT recoverable
Other debtors
**17.**
**Creditors: amounts falling due within one year**
Trade Creditors
Accruals
Deferred income
Social security and taxes
Other creditors
Agency collections
Deferred income at 1 January
Resources deferred in the period
Amounts released from previous periods
Deferred income at 31 December|**2022**
**£**
**2021**
**£**
3,535
4,236
**2022**
**£**
**2021**
**£**
7,166
6,177
1,447
1,148
1,764
14,864
16,564
2,532
34,650
11,773
61,591
36,494
**2022**
**£**
**2021**
**£**
28,911
10,080
18,753
3,500
200
3,916
2,673
6,111
8,211
-
5,730
13,998
64,479
37,605
**2022**
£
**2021**
£
3,916
97,595
200
3,916
(3,916)
(97,595)|
|---|---|
||200
3,916|
27
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **18. Creditors: amounts falling due after one year**
||**2022**|**2021**|
|---|---|---|
||£|£|
|Other creditors|-|450|
## **19. Pension and other schemes**
Beverley Minster PCC participates in the Pension Builder Scheme section of CWPF for lay staff. CWPF is administered by the Church of England Pensions Board, which holds the CWPF assets separately from those of the Employer and other participating employers.
CWPF has two sections:
1. the Defined Benefits Scheme
2. the Pension Builder Scheme, which has two subsections;
- a. a deferred annuity section known as Pension Builder Classic, and,
- b. a cash balance section known as Pension Builder 2014.
## **Pension Builder Scheme**
Both sections of the Pension Builder Scheme are classed as defined benefit schemes.
_**Pension Builder Classic**_ provides a pension, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Discretionary increases may also be added, depending on investment returns and other factors.
_**Pension Builder 2014**_ is a cash balance scheme that provides a lump sum which members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. Discretionary bonuses may be added before retirement, depending on investment returns and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65.
There is no sub-division of assets between employers in each section of the Pension Builder Scheme.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme’s assets and liabilities to specific employers and means that contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SoFA in the year are the contributions payable (2022: £3,485, 2021: £3,327).
A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 December 2019. The next valuation is due as at 31 December 2022.
For the Pension Builder Classic section, the valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review, the Board chose to grant a discretionary bonus of 10.1% following improvements in the funding position over 2022. There is no requirement for deficit payments at the current time.
For the Pension Builder 2014 section, the valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments at the current time.
The legal structure of the scheme is such that if another employer fails, Beverley Minster PCC could become responsible for paying a share of the failed employer’s pension liabilities.
28
## **The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **20. Commitments ; Operating leases**
There were no commitments at the year end (2021 – none).
## **21. Funds**
|**For the year to 31**
**December 2022**
**Unrestricted funds**
General
Designated
Unrestricted funds
**Restricted funds**
**Endowment funds**
**Total funds**
**For the year to 31**
**December 2021**
**Unrestricted funds**
General
Designated
Unrestricted funds
**Restricted funds**
**Endowment funds**
**Total funds**|**Balance at**
**1 January**
**2022**
**Income**
**Expenditure**
**Transfers**
**Other**
**recognised**
**gains/(losses)**
**Revaluation**
**Balance at**
**31**
**December**
**22**
650,836
601,098
(426,431)
121,103
(53,578)
893,029
423,651
-
-
(20,572)
-
403,079|
|---|---|
||1,074,487
601,098
(426,431)
100,531
(53,578)
1,296,108
398,938
20,578
(47,154)
(111,454)
-
260,908
589,356
-
(2,298)
10,923
-
597,981|
||2,062,781
621,676
(475,883)
-
(53,578)
2,154,998|
||**Balance at**
**1 January**
**2021**
**Income**
**Expenditure**
**Transfers**
**Other**
**recognised**
**gains/(losses)**
**Revaluation**
**Balance at**
**31**
**December**
**2021**
679,909
336,759
(385,197)
1,709
17,656
650,836
422,450
915
-
286
-
423,651|
||1,102,359
337,674
(385,197)
1,995
17,656
1,074,487
377,179
147,852
(137,123)
(1,995)
13,025
398,938
586,583
-
(688)
-
3,461
589,356|
||2,066,121
485,526
523,008
-
34,142
2,062,781|
29
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Funds (continued)**
|**For the year to 31**
**December 2022**
**Unrestricted funds**
**_General_**
St Peter’s General fund
St. Leonard’s General fund
Minster General fund
Tickton LEP General fund
**_Designated_**
Two churches
Assistant Director of Music
Minster Development Fund
Music and Choir Fund
Organ Fund
Mission fund
Vicars garden Fund
Youth and children Fund
**Total unrestricted funds**
**Restricted Funds**
Assistant Organist Fund
Dorcas Fund
Nave roof
Men’s Group Fund
Minster Bells Fund
Minster Development Fund
Sanctuary
Music and Choir Fund
Organ Fund
Tickton Development Fund
Vicar’s Garden Fund
Youth and Children Fund
Assistant Director of Music
Choral Foundation
Tickton community
Mission Fund
**Total restricted funds**
**Endowment Funds**
Total Endowment funds
**Total Funds**|**Balance at 1**
**January**
**2022**
**Income**
**Expenditure**
**Transfers**
**Other**
**recognised**
**gains/(losses)**
**/revaluations**
**Balance at 31**
**December**
**2022**
28,400
54,976
(14,313)
-
-
69,063
19,336
25,461
(30,277)
-
-
14,520
595,118
503,964
(362,458)
121,103
(53,578)
804,150
7,982
16,697
(19,383)
-
-
5,296|
|---|---|
||650,836
601,098
(426,431)
121,103
(53,578)
893,029|
||1,592
-
-
(1,592)
-
-
11,722
-
-
(11,722)
-
-
403,079
-
-
-
-
403,079
3,050
-
-
(3,050)
-
-
4,077
-
-
(4,077)
-
-
130
-
-
(130)
-
-
13
-
-
(13)
-
-
(12)
-
-
12
-
-|
||423,651
-
-
(20,572)
-
403,079|
||1,074,487
601,098
(426,431)
100,531
(53,578)
1,296,108|
||80
-
-
(80)
-
-
851
-
-
-
-
851
-
-
-
-
276
-
-
(276)
-
-
18
-
(18)
-
-
-
43,890
-
-
(43,890)
-
-
98,630
-
(35,419)
(61,036)
-
2,175
16,231
-
-
(16,231)
-
-
167,929
-
(1,057)
-
-
166,872
90,731
-
-
(11,704)
-
79,027
(87)
-
-
87
-
-
(21,011)
21,011
-
-
(100)
-
-
665
-
565
-
20,578
(9,660)
-
-
10,918
500
-
-
-
-
500
1,000
-
(1,000)
-
-
-|
||398,938
20,578
(47,154)
(111,454)
-
260,908
589,356
-
(2,298)
10,923
-
597,981|
||2,062,781
621,676
(475,883)
-
(53,578)
2,154,998|
30
**The Parochial Church Council of the Ecclesiastical Parish of St. John and**
## **St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Funds (continued)**
|**For the year to 31**
**December 2021**
**Unrestricted funds**
**_General_**
St Peter’s General fund
St. Leonard’s General fund
Minster General fund
Tickton LEP General fund
**_Designated_**
Two churches
Assistant Director of Music
Minster Development Fund
Music and Choir Fund
Organ Fund
Mission Fund
Vicars garden Fund
Youth and children Fund
**Total unrestricted funds**
**Restricted Funds**
Assistant Organist Fund
Dorcas Fund
Nave roof
Men’s Group Fund
Minster Bells Fund
Minster Development Fund
Sanctuary
Music and Choir Fund
Organ Fund
Tickton Development Fund
Vicar’s Garden Fund
Youth and Children Fund
Assistant Director of Music
Two churches
Tickton community
Mission Fund
**Total restricted funds**
**Endowment Funds**
Total Endowment funds
**Total Funds**|**Balance at 1**
**January**
**2021**
**Income**
**Expenditure**
**Transfers**
**Other**
**recognised**
**gains/(losses)**
**/revaluations**
**Balance at 31**
**December**
**2021**
27,572
4,738
(3,910)
-
-
28,400
20,778
2,367
(3,809)
-
-
19,336
623,899
317,462
(365,608)
1,709
17,656
595,118
7,660
12,192
(11,870)
-
-
7,982|
|---|---|
||679,909
336,759
385,197
1,709
17,656
650,836|
||1,592
11,722
-
-
-
-
-
-
-
-
1,592
11,722
403,079
-
-
-
-
403,079
1,849
915
-
286
-
3,050
4,077
130
-
-
-
-
-
-
-
4,077
130
13
-
-
-
-
13
(12)
-
-
-
-
(12)|
||422,450
915
-
286
-
423,651|
||1,102,359
337,674
(385,197)
1,995
17,656
1,074,487|
||80
-
-
-
-
80
851
-
-
-
-
851
10,588
30,000
(65,472)
24,884
-
-
276
-
-
-
-
276
18
-
-
-
-
18
43,890
-
-
-
-
43,890
30,077
99,707
(41,548)
10,394
-
98,630
3,647
13,198
(2,285)
(1,995)
3,666
16,231
172,597
-
(4,668)
-
-
167,929
90,731
-
-
-
-
90,731
(87)
-
-
-
-
(87)
(12,167)
4,947
(23,150)
-
9,359
(21,011)
(100)
-
-
-
-
(100)
35,278
-
-
(35,278)
-
-
500
-
-
-
-
500
1,00
-
-
-
-
1,000|
||377,179
147,852
(137,123)
(1,995)
13,025
398,938
586,583
-
(688)
-
3,461
589,356|
||2,066,121
485,526
(523,008)
-
34,142
2,062,781|
A number of prior year adjustments have been made in these Accounts where expenditure has been incurred in prior years and incorrectly charged to the Minster General Fund instead of specific Designated and/or Restricted Funds which directly related to that activity. The effect of this in 2022 has been to reduce the value of and/or close some specific Designated and Restricted Funds with a commensurate increase in the value of the Minster General Fund.
31
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **Funds (continued)**
|**For the year to 31**
**December 2022**
**Endowment funds**
Investment Endowment
Music Endowment
Property Endowment
Tickton Naylor Fabric
**Total endowment funds**
**For the year to 31**
**December 2021**
**Endowment funds**
Investment Endowment
Music Endowment
Property Endowment
Tickton Naylor Fabric
**Total endowment funds**||**Balance at 1**
**January**
**2022**
**Income**
**Expenditure**
**Transfers**
**Other**
**recognised**
**gains/(losses)**
**Balance at**
**31**
**December**
**2022**
60,307
-
-
5,008
-
65,315
22,428
-
-
238
-
22,666
506,224
-
(2,298)
6,074
-
510,000
397
-
-
(397)
-
-
589,356
-
(2,298)
10,923
-
597,981
**Balance at 1**
**January**
**2021**
**Income**
**Expenditure**
**Transfers**
**Other**
**recognised**
**gains/(losses)**
**Balance at 31**
**December**
**2021**
60,307
-
-
-
-
60,307
22,428
-
-
-
-
22,428
503,451
-
(688)
-
3,461
506,224
397
-
-
-
-
397|
|---|---|---|
|||586,583
-
(688)
-
3,461
589,356|
## **Unrestricted (and Designated) Funds include:**
The Minster General Fund, the daughter churches’ general funds and the Minster Development Fund.
The designated Minster Development Fund was established to fund future capital projects, financed by bequests and major donations. This policy was established in 2010.
## **Restricted funds include:**
The restricted Minster Development Fund: This is linked to the 2015 acquisition of new chairs in the Minster. The prior years value of £43,890, which has been static for more than 5 years, was The Friends of Beverley Minster’s contribution to cost of the chairs. The depreciation was always charged to the Minster General Fund. Following financial advice, the remaining asset value has been transferred to the Minster General Fund.
Organ Fund: A fund established to maintain the Minster’s organ, which requires regular tuning and a major refurbishment every 25-30 years.
Sanctuary Fund: A fund established for the Sanctuary project, transforming the space in the North Transept into an exhibition highlighting the Minster as a place of sanctuary and Beverley as a place of refuge. This project included restoration of the Lesser South Transept roof. The funding came from the National Lottery Heritage Fund, Beverley Minster Old Fund and the Friends of Beverley Minster. The Sanctuary Project concluded in November 2022 and so it is expected that this fund will close in early 2023. Costs in 2021 had been incorrectly charged to the Minster General Fund instead of the Sanctuary Fund. This has been corrected in the 2022 Accounts.
Tickton Development Fund: This was set up as a restricted fund to allow for improving accessibility into the church and providing kitchen facilities within the church. Depreciation was not charged to this Fund in prior years and has been corrected with the transfer in 2022. This Fund now represents the value of the asset.
32
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
Choral Foundation: A fund set up to allow choristers at the Minster to access instrumental lessons irrespective of their financial circumstances. Following support from the Friends of Beverley Minster, a grant was received from the Deflog Foundation in 2022.
Music and Choir Fund: There is also a designated element to this. Some costs of both Music and Choir funds had been incorrectly charged in 2021 and 2022 to the Minster General Fund instead of the Music and Choir Funds. As a result, the balances of these funds were transferred to the Minster General Fund to repay those prior costs.
## **Endowment (Capital) Funds include:**
Bequests from C.H. Barringer deceased and C.M.L Walker deceased, and the Friends of Cathedral Music (Beverley Minster Music Fund).
The PCC resolved to release and spend the permanent endowment of the Naylor Fabric Fund of Tickton Church under S75A Charities Act 1993 as amended by the Charities Act 2006. This allowed the Church in Tickton to allocate the small capital sum towards fabric repairs.
## **22. Analysis of net assets by fund**
|**As at 31 December 2022**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|
|---|---|---|---|---|
|Tangible fixed assets|913,731|-|511,424|1,425,155|
|Investments|25,000|319,907|65,315|410,222|
|Net current assets|362,912|(64,533)|21,242|319,621|
|Long term liabilities|-|-|-|-|
||1,301,643|255,374|597,981|2,154,998|
|**As at 31 December 2021**|**Unrestricted**|**Restricted**|**Endowment**|**Total**|
|Tangible fixed assets|919,410|-|511,160|1,430,570|
|Investments|25,000|349,824|78,196|453,020|
|Net current assets|130,527|49,114|-|179,641|
|Long term liabilities|(450)|-|-|(450)|
||1,074,487|398,938|589,356|2,062,781|
## **23. Connected Persons – Members of the PCC**
During 2022 the clergy received the following:
|During 2022 the clergy received the following:||
|---|---|
|Accommodation costs
There were no other related party transactions in the year.|**2022**
**£**
**2021**
**£**
2,298
688|
||2,298
688
|
## **24. Endowment funds**
Following enactment of the Church Accounting Regulations 2006, the Financial Statements include both the income arising from and the capital values of the following:
The C.H. Barringer legacy, Trustees: the PCC The C.M.L. Walker legacy, Trustees: the PCC The Beverley Minster Music Fund, Trustees: the PCC
33
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **25. Independent Trusts**
Beverley Minster has an involvement with some 6 independent trusts or charities and in no case are their accounts included in these financial statements. These are listed on page 9 under the heading Independent Trusts.
## **26. Property Insurances**
All our properties are insured with Ecclesiastical Insurance, with policies covering the following:
Minster, Parish Hall, Peter Harrison Room Minster boilers, lifting equipment, wiring Parish Centre 23 Outer Trinities St. Peter’s Woodmansey St. Leonard’s Molescroft The Church in Tickton LEP
## **27. Special Collections On Behalf Of Others (Agency Accounts)**
The Minster regularly collects funds on behalf of others. These funds are administered by the Minster, and pass through the Minster’s bank account, but do not form part of the Minster’s income.
These collections are held in separate agency accounts from the time of collection until such time as the funds are disbursed. It is the P.C.C’s aim to make payments as soon as possible, although in the case of some funeral collections the family’s instructions may not be immediately available.
|**The balances on these accounts are shown below:**
Diocesan Fees
Collections for others
Friends of Beverley Minster
Funeral Collections
Music Scholarship Foundation|**2022**
**£**
**2021**
**£**
-
1,477
4,050
573
272
80
1,408
2,689
-
9,179|
|---|---|
||5,730
13,998|
## **28. Accounting For Financial Interaction with The Beverley Minster Old Fund**
There are a number of agreed financial arrangements between the PCC and the Beverley Minster Old Fund. These relate to the income from roof and ground floor tours, the visitor box donations, the heating charges and the insurance premiums.
34
**The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster)**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
|**29.**
**Net Cash (Used in) Operating Activities**
Net movements in funds
Losses/(gains) on fixed asset investments
Gain on revaluation of tangible fixed assets
Income from investments
Depreciation
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net Cash provided by/(used in) Operating Activities|**2022**
**£**
**2021**
**£**
86,681
(3,340)
53,578
(34,142)
-
-
(19,549)
(19,266)
28,856
19,562
701
1,188
(29,380)
53,316
30,708
(111,037)|
|---|---|
||151,595
(93,719)|
|**330.**
**SOFA For the Year**
**ended 31st December**
**2021**
**Income and Endowments from:**
Donations and legacies
Charitable activities
Other trading activities
Investment income
**Total income**
**Expenditure on:**
Raising funds
Charitable activities
**Total expenditure**
**Net (expenditure) before**
**transfers**
Transfers between funds
**Other recognised gains/(losses)**
Gain/(loss) on revaluation of
investments
**Net movement in funds**
Total funds brought forward
**Total funds carried**
**forward**|**Unrestricted**
**funds**
**£**
**Restricted**
**funds**
**£**
**Endowment**
**funds**
**£**
**Total**
**funds 2021**
**£**
236,296
139,700
-
375,996
31,014
-
-
31,014
59,250
-
-
59,250
11,114
8,152
-
19,266|
|---|---|
||337,674
147,852
-
485,526
(9,348)
-
-
(9,348)
(375,849)
(137,123)
(688)
(513,660)|
||(385,197)
(137,123)
(688)
(523,008)
(47,523)
10,729
(688)
(37,482)
1,995
(1,995)
-
-|
||17,656
13,025
3,461
34,142
(27,872)
21,759
2,773
(3,340)
1,102,359
377,179
586,583
2,066,121|
||1,074,487
398,938
589,356
2,062,781|
35