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 2023
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Contents Admin and reference details............................................................................................................................................. Trustees Report for the Year Ended 31 December 2023...................................................................................... Statement of Trustees, Responsibilities .10 Independent Examinerfs Report to the Trustees of the Parochial Church Council of The Ecclesiastical Parish of St. John and St. Martin (Beverley Minsterl... .11 Statement of Financial Activities for the Year Ended 31 December 2023..........................................................12 Balance Sheet as at 31 December 2023......... .13 Statement of Cash Flows for the Year Ended 31 December 2023......................................................................14 Notes to the Financial Statements for the Year Ended 31 December 2023.......................................................15
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Reference and Administrative Details Incumbent Rev'd Canon Jonathan Baker Prlnclpal Offlce The Parish Centre 38 Highgate Beverley HU17 ODN Charity Registration Number 1132704 Bankers Minster Barclays Bank PLC 4 North Bar Within Bevertey HU17 8AY CCLA Investment Management Ltd The CBF Church of England Funds One Angel Lane London EC4R 3AB St. Leonard, Virgin Money 10-12 Pamgon Street Hull HU13ND St. Peter's Nalwest 60 Market Place Bevedey HU17 8AA The Church in Tickton Virgin Money 10-12 Paragon Street Hull HU13ND Independent Examiner Jessica Lawrence Azets Audit Services Limited 12 King Street Leeds LS1 2HL Accountants Dymond Chartered Accountants Office F1, Bevedey Enterprise Cenlre, Beck View Road, Bevedey, HU17 OJT
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2023 The Trustees present the annual report and financial statements of the charity for the year ended 31 December 2023. The financial stslements 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 Aet 2011 and "Aceounting 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 IFRS 1021 (effective 1 January 20191 as detailed in the accounting policies. Ob'ectives 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 IPCCI 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 ofthe Minster's daughter churches of St. Leonard's, Molescroft, Sl. Paul's, Ticklon las part of the Church in Tickton, an Anglican Melhodisl Local Ecumenical Partnership), and Sl. Peler'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 lo 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 mallers of concern and importance for the promotion of the whole mission of the Church, pastoral, evangelistic, social and ecumenical, the Minster, with Ils daughter churches, provide a benefit lo the public by.. Providing resources and facilities for public worship, pastoral care and spiritual, moral and intellectual development, both for ils members and anyone who wishes lo 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 lo worship al our church and to become part of our parish community. The PCC and cleryy 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. statutory and Legal Requirements The PCC strives lo comply with Church of England guidelines, including those on safeguarding children and vulnerable adults, Charity Commission regulations, awountancy practice and procedures, Health and Safety requirements and all other legislation relating to the conduct of its affairs. Achievements and Performanc Church attendance and electoral roll. Average attendance at the Minster and associated churches is shown below I" amended figures). 2023 166 29 36 2022 168 29 30 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 Peler's, Woodmansey Children under 16 years of age Total 14 14 23 21. 271 267"
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2023 Communicants at Easter and Christmas Easter Day 2023 2022 226 203 49 41 26 21 291 Christmas Day 2023 2022 300 366 27 38 Beverley Minster St Leonard's, Molescroft The Church in Tickton St Peler's, Woodmansey Total 21 311 19 346 18 422 Conducting weddings, funerals & baptisms is an important element in the life of the church and makes a valuable contribution lo the wider community. In 2023, we conducted 25 baplisms133 in 20221, 17 weddings117 in 20221 and 33 funerals133 in 20221. There were 289 members on the electoral roll presented al the 2023 APCM1284 in 20221. Vision and Strate The direction of travel al the Minster continues to be set by the 2021 Vision Strategy, and a process of review has begun which will continue into 2024. A number of initial objectives have been achieved le.g. new congregations, revamped pastoral and prayer teams, the Hope into Action partnership) and now need lo be consolidated and grown. 2023 saw various changes lo personnel at Beverley Minster. In March the Associate Viear, Wendy Wale, moved on to an incumbency al Bar Hill, meaning that the full-lime clergy team was down from three in 2022 to one by Easter 2023. This led to an expectation that the Minster would be operating on a caretaking footing with limited scope for new initiatives, although in practice several important new ventures have taken place. In July we were joined by a new Curate, Charlie Shefford, to begin his training. The daughter churches at Molescroft, Tickton and Woodmansey are setved by good local leadership, supported by the dergy. Numbers are growing as part of the continuing recovery since the pandemic, helped by new people joining. In March we celebrated the excellent work of our many volunteers with a Volunteers, Service. Also in March we hosted the High Sheriff s Legal Service, and in May we livestreamed King Charles, Coronation. In April funding was secured from the Deflog Foundation for a new Community Connections project including school visits and learning opportunities, events and a popular series of heritage craft workshops. The life of the congregation was enhanced by a well-attended Lent Course exploring major biblical themes, and a lermly programme of Quiet Days led by visiting speakers. The new congregations al 9.15am and 4pm continued to settle down after their launch in 2022, although with the shortage of clergy there were no significant developments. The monthly Taizé Servi was also revived and allracls folk from across the region. In the Deanery, a monthly informal worship service was established which is supported by the Minslerfs worship band. In October, 6 adults and one child were confirmed by the Bishop of Hull. Support for Ukrainian refugees was developed with a monthly social evening in the Parish Hall and a special service in August. In July we established a partnership with 'Hope into Action, which saw the opening of a house, funded by loans chiefly from members of the Minster congregation, to house a family al risk of homelessness. A major event was the three-week hosting of the Gaia installation in the Minster, with a related programme of services and events, culminating in an Eco Fair supported by many local and regional organisations and businesses. Around 30,000 people came to the combined events, which meant that the number of visitors to the Minster over the year was signifi¢anUy higher than usual. The Minster choir plays a vital role in the life of the Minster, both in leading worship and in running music events. It continues lo attract new people and has a total membership of nearly 70. There is also a thriving Junior Choir.
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2023 Financial Review We began 2023 optimistic that day to day financial efficiency was continuing to improve and that we had established greater clarity on our financial position. This was reflected in our budget, which provided for a small surplus. As agreed when he stood as Treasurer in 2022, however, Tim Catlisle stepped down at the APCM in May 2023. Nobody came fotward lo fill the post, so the Churchwardens were required to take responsibility in accordance with the Church Representation Rules. This was still the situation al 31 December 2023, though we can report that Lia Argentou was co-opted to the PCC, and appointed Treasurer, on 12 March 2024. During the year, the Minster bookkeeping was brought back in-house. The finances of the Daughter Churches continued to be handled by the respective Treasurers and Finance Assistant, and we are very grateful for their support in the preparation of these Financial Ststemenls. We continue to be a member of the Parish Giving Scheme IPGSI, providing our regular givers the option lo donate by Direct Debit. In September 2023 we were pleased to receive a new Donation Station as a grant through the Church of England's digital giving rollout in the Diocese of York. This enabled visitors lo the Minster to make conlaciless donations, with Gift Aid where eligible. The administration and Gift Aid claims for both these sources of Income are handled through PGS, freeing up a significant amount of staff lime. We also continue lo offer other methods of donation for regular and one-off gifts and are grateful lo all our givers. They represent significant part of our income and we could not fvjnclion wilhoul their generosity. During 2023 a new Capital Works Board was set up, bringing together representatives from the PCC, Beverley Minster Old Fund, The Friends of Beverfey Minster and Two Churches One Town. The Board has begun lo help us lo prioritise and fund a number of projects, including those relating to areas of risk described in our 2022 report and below. In March a new video was premiered at the ParloNay Cinema showcasing the work and needs of both the Minster and St Mary's, sponsored by Two Churches One Town, and which is intended to be used as a fundraising tool. In Juty there was an au¢lion conducted by Caroline Hawley and organised by Two Churches One Town of redundant stonework and furnishings which raised nearly £40,000 for the Minster and Sl Mary's. Al the end of 2023, as reported in the Financial Slatemenls, we are pleased to have a surplus of £71,000. Whilst this is a decrease from 2022, after adjusb'ng for the significant bequests in that year, the underlying result is an increase of around 200/D. Despite a small percentage decrease in total income, planned giving increased by around 70/0 and our visitor income continued to improve. Our expenditure increased in 2023, with much of this relating to the cost of concerts and events. We did, however, receive grants for the Gaia instsllalion and Eco Fair from the Love Your High Street Fund, Do It for East Yorkshire Community Grants, Dogger Bank Community Fund and Routh Wnd Farm Community Fund. This support was much appreciated and went a long way lo offselling the costs of those particular events. We mel our pledge lo the Diocese of an increased Free Will Offer, sending £79,000 in 2023. Our pledge for 2024 is a further increase lo £87,000. Reserves Policy Due lo the nature of the charity, its relianTr on donations as Income and the Inerrant unpredictability of legacy income, the Iruslees consider that six months forward expenditure is the minimum level of reserves required lo cover current running costs and are comfortable with a level In excess of this. Current monthly running costs are approximately £30,000. The level of free reserves al 31st December 2023 is £408,664, which equates to over 12 months forward expenditure which is above the free reserves target. This policy Is reviewed every quarter al 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 al least 1°k more than the prevailing rate on the Church of England Deposit Account.
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2023 Principal risks facing the charity FinanciTal risk The day40-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 quartedy management accounts to the Committee, showing the financial position compared to the previous year and budget, and a forecast oullurn for the year. Reputatlonal rlsk This can be minimised by encouraging best practi in all aspects ofthe Parish's management, thereby reducing the risk of inappropriate actions which could have a damaging effect on the Parish. This extends both to stsff and volunteers, all of whom need lo 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 repair of which is delegated annually lo a separate charity, Beverley Minster Old Fund. Of most immediate concern is the condition of the roofs and the east and wesl stsined-glass windows. There is also a need for resloralion of 3 of the 4 outer buildings owned by the PCC.. the Parish Hall, the Parish Centre and the Peter Harrison Room. These issues are being addressed through the Capital Works Board. Structure Governance and Mana ement The Ecclesiastical Parish of St. John and St. Martin IBeverley Minslerl 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 Councils Powers Measure119561 and The Church Representation Rules. Charitable status was received on 13 November 2009. Committees The Parochial Church Council meets regularly and operates through commillees which meet beeen full meetings of the PCC and as neTrssary to conduct relevant, urgent or minor business. Standing Committoe: meets only as needed to transact urgent business. It comprises.. The Vicar The Churchwardens The Deputy Churchwardens The Deputy Chairman ofthe PCC The Treasurer The PCC Secretary Inon-volingl Finance Committee: advises on financial matters and gives detailed scrutiny to financial affairs Vlslon Steerlng Group: advises on implementation of the 2021 Vision Strategy Mlsslon Actlon Commlttee.. advises on partnerships with local, national and international charities and mission agencies Plant and Facilities Committee: advises on propety issues, manages and maintains PCC propety Enterprise Committee: has an overview of all income generation, and 'Ouard facing" parts of the Minsle¢s HR Committee.. reviews the terms and conditions under which staff are employed and advises on staffing issues
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2023 PCC Membership- List of members as at 316t December 2023 Ex-officio Clergy.. Rev'd Canon Jonathan Baker Rev'd Charlie Shefford Churchwardens Paul Collins Sandra Kealing Sandra King Dawn Pollard Jane Chipperton Wardens of the Daughter Churches Andrew Hancock (St. Leonard's Molescroftl Dawn Pollard (St. Peter's Woodmanseyl Kate Powell ISI Paul's Ticktonl Deanery Syn(Id nyembers- elected until 2024 Dawn Pollard Eric Doyle PCC Men7bers elected until 2024 Meg Choules Catherine Drake Hugh Meyer Jerome Robertson Marian Snowden Elected until 2025 Mike Dent Eric Doyle Jane Ewbank Marjorie Neaum Kevin Vvheeldon El8Ct8d until 2026 Patricia Brunt Chris Chipperton Rod McPhee Sue Robson Joyce Shaw Members of the PCC can be contacted by writing to them at The Parish Centre 38 Highgate Beverley HU17 ODN Officers Chair.. The Vicar Vice Chairman.. Rod McPhee Treasurer". Tim Carlisle Iresigned 23 May 20231 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 r&elected.
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2023 Beverley Minster Shop Ltd The PCC is the beneficial owner of 1000/0 of the issued Share Capital of Beverley Minster Shop Ltd and exercises ils control through nominee directors appointed by the PCC. All profits of the Company are covenanted to, and transferred lo, the PCC for the unrestricted benefit of Bevedey Minster. The financial result of Bevetley 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 IFRS 10212019. Independent Trusts Beverley Minster has an involvement with a number of independent trusts or charities and in no case are their accounts included In these financial statements. 1. Vicar and Churehwardens". 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 Churehwardens of Beverley Minster as Administrative Trustees. 3. Beverley Minster Old Fund". An independent charity (Reg no. 2242081 with an endowment established in 1579 by Queen Elizabeth I for the maintenance of the building. Its charitable objects are". The Repair, resloralion and maintenance of Beverfey 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 lo the Beverley Minster Old Fund. 4. The Friends of Beverley Minster.. An independent charity (Reg no. 5013021. Its charitable objects are.. The preservation and adornment of Beverley Minster and the general maintenance of the Minster, ils activities and Servi$, its ornaments and furnishings., To make gifts to the Minster which may be acceptable lo the PCC To promote public interest in the Minster ils history and its work. 11 is managed by Independent Trustees and is not a responsibility of the PCC. 5. The Canon Nollolh Trust was registered with the Charity Commission on 12 September 1963 and is administered by the Diocese of York. Churchyard The Minster Churchyard is 'closed' lo further burials and under the Local Government Act 1972, il is now the responsibility of East Riding of Yorkshire Council to maintain the Church's grounds, paths etc. The Churchyard al Tickton remains open. It is recommended that the Annual Report and Financial Statements for the year ended 31 gt December 2023 be adopted and approved for submission to the Annual Parochial Church Meeting. The annual reportwas approved by the PCC on and signed on ils behalf by. Rev'd Canon Jonathan Baker Chair of Trustees Sandra King Trustee and Churchwarden
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL 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 lo charities requires the Trustees lo prepare financial statements for each fi'nancial year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of reSoUrS of the charity for that period. In preparing these financial stalemenls, the Trustees are required lo.. select suitsble accounting policies and then apply them consistendy., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., stsle whether applicable accounting stsndards have been followed, subject lo any material departures disclosed and explained in the financial statements," and prepare the financial statements on the going conrn basis, it is inappropriate lo 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 eonslitulion. 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. io
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Independent Examiner's Report to the Trustees of the Parochial Church Council of The Ecclesiastical Parish of St. John and St. Martin (Beverley Minsterl I report on the accounts of the charity for the year ended 31 December 2023 which are sel out on page5 12 to This report is made solely to the charity's Trustees, as a body, in aecordanee with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might stale to the charity's trustees those matters l am required to slate 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 Ilhe 2011 Acll. 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 14515llbl 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 l am qualified to undertake the examination because l am a member of The Institute of Chartered Accounlanls in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect". accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act., or the financial statements do not accord with those records., or the fi'nancial statements do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities IAccounts 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 lo which attention should be dfftwn in this report in order to enable a proper understanding of the financial statements lo be reached. J6SSIG& Jessica Lawrence Azets Audit Services Limited 12 King Street Leeds LS12HL li
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) ststement of Financial Activities for the Year Ended 31 December 2023 Note Unrestrlcted Restrlcted Endowment funds funds funds Total Total funds 2023 funds 2022 Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income Total income 304,855 71,440 139,051 22,798 51,039 355,894 71,440 141,686 24,324 426,094 39,164 106,490 30,329 19,600 621,677 2,635 124 1,402 538, 144 53,798 1,402 593,344 Expenditure on: Raising funds Charitable activities Total expenditure {50,5841 432 187 1482,7711 118,2941 168,8781 117,378} 453 373 458 504 1522,2511 1475,8821 139,4801 Net incomellexpenditure) before transfers Transfers between funds 55,373 14,318 1,402 71,093 145,795 1,148 11,1481 Other recognlsed {lossesllgalns Gainlllossl on revaluation of 14 investments Gainlllossl on sale of investments Net movement in funds Total funds brought forward Total funds carried fonvard 4,413 3,300 7,713 153,578) 14 12941 12941 60,934 1,296,109 1,357,043 13,170 260,908 274,078 4,408 597,981 602,389 78,512 2,154,998 2,233,510 92,217 2,062,781 2,154,998 21 A full comparative SOFA can be found al 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. 12
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin {Beverley Minster) {Registration number: 1132704) Balance Sheet as at 31 December 2023 Fixed assets Note 2023 2022 Tangible assets Investments 13 14 1,411,120 413,726 1,425,155 410222 1,824,846 1,835,377 Current assets Stocks Debtors Cash al bank and in hand 15 16 3,444 41,988 415,256 3,535 61,591 318,974 460,688 384,100 Croditors: Amounts falling due within one year 17 52,024 64,479 Net current assets 408,664 319621 Total assets less current Ilabllltles 2,233,510 2,154,998 Credltors: Amounts falllng due after more than one year 18 Net assets 2 233 510 2 154998 Funds of the charity: Endowment funds Restricted funds 602,389 274,078 597,981 260,908 Unrestricted funds 1 357 043 1 296 109 Total funds 21 2,233,510 2,154,998 The financial statements on pages 12 to 34 were approved by the Trustees, and aulhorised for issue signed on their behalf by.. 0910512024 and Rev'd Canon Jonathan Baker Chair of Trustees Sandra King Trustee and Churchwarden 13
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Statement of Cash Flows for the Year Ended 31 December 2023 Note 2023 2022 Cash flows from operating activities: Net cash provided byllused inl operating activities 29 77,105 151,595 Cash flows from investing activities: Investment income received Purchase of investments Sale 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 24,324 11,4021 4,930 18,6751 19,177 96,282 318,974 415,256 19,549 110,7801 117,9071 9,138 142,457 176,517 318,974 14
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Accounting policies The principal accounting policies adopted, judgements and key sources of estimation uncertainly in the preparation of the financial statements are as follows.. Charity Information The Parochial Church Council of the Ecclesiastical Parish of Sl. John and St. Martin (Bevedey Minslerl is a charity registered in England and Wales (charity registration number 11327041- The COrresFX)nden address is The Parish Centre, 38 Highgale, Beverley, HU17 ODN. Accounting Convention The financial statements have been prepared in accordance with Aecounling 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 IFRS 1021 (effective 1 January 20191 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis of preparation The Parochial Church Council of the Ecclesiastical Parish of Sl John and Sl Martin IBeverfey Minster) meets the definition of a public benefit entity under FRS 102. The financial statements are prepared in slerfing, which is the functional currency of the Charity. Monetsry amounts in these financial statements are rounded lo the nearest £1. The financial statements have been prepared under the historical cost convention, modified lo indude the revaluation of investments and rtain fixed assets al fair value. The principal accounting policies adopted are set out bebw. Going concern Al the lime 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 il's Income, as such the pandemic could give rise to a material flu¢lualion in results and some uncertainty in regard to going concem, however this 15 being constantly monitored. Income and endowments Voluntary income of legacies that provide core funding or are of a geneml nature is recognised when the charity has entitlement lo the income, it is probablè that the income will be received and the amount can be measured with sufficient reliability- Donatlons and legacles Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Grants recelvable Grants are recognised when the charity has an entitlement lo the funds and any conditions linked to the grants have been met. Where performance conditions are attached lo the grant and are yel to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. 15
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 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 musl be met before the charity has unconditional entiuement. 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 conslruclive obligation to that expenditure, il 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 lo that category. Where Costs cannot be direcdy attributed lo 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 attraeling 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 attributsble 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 il's income and gains are exempl from taxation to the extent that they are applied for charitable purpose. Tangible fixed assets Consecratedproperty and movable church fumishings Consecrated and benefid property of any kind is excluded from the accounts by S.1012llal 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 propety. 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 buiTldings The Church Hall, Peter Harrison Room, Parish Centre and the residential property al 23 Outer Trinities were professionally valued in April 2019 by John English Bsc M.R.l.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 2023. Offlce 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. 16
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 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 dale. Realised gains and losses on investments are calculated as the difference beeen sales prOed$ and their market value al the start of the year, or their subsequent cost are charged or credited lo 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 al 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 rale of return, based on the current value of investments, of al least 1'/o more than the prevailing rate on the Church of England Deposit Account. Stock Stocks relate lo the Cost of the choir and organ CD'S held by the Director of Music. Stocks are stated at the l()wer 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 sel off the recognised amounts and there is an intention lo setde on a net basis or to realise the asset and settle the liability simultaneously. Trade debtors Amounts owing to the PCC at the 31st December, in respect of fees, rents or other income are shown as debtors less provisions for amounts that may prove uncolleclable. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm 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, lo defer settlement of the creditor for al least twelve months after the reporting date. If there is an unconditional right lo defer settlement for at least e1ve months after the reporting dale. they are presented as non-current liabilities. 17
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Fund structure Unrestricted funds.. represent the funds of the PCC that are not subject lo any reslriclions regarding their use. Funds designed for a particular purpose by the PCC are also considered lo be unreslricled. 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 specifi'ed that only the income from the money or asset donated can be spent The original asset Ilhe 'capital'l cannot normally be spent. The donor of the endowment fund specifies the use lo which the income can be pul, so it can be more restricted than for the general purposes of the PCC. Employee benefits The cost of any unused holiday enlillemenl 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 lo provide lerminalion benefits. Leases Rentals payable under operating leases, including any lease incentives r1ved, are charged as an expense on a straight line basis over the term of the relevant lease. 18
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Income from donations and legacies Unrestricted funds General For the year to 31 December 2023 Restricted funds Total 2023 Donations Visitor box donations General collections Planned giving Gift aid reclaimed Donations for refreshments Donations for prayer candles Bequests Grants, including capital grants 33,131 25,689 52,454 116,508 42,134 4,746 11,118 425 18,650 304 855 23,639 56,770 25,689 52,454 116,508 42,134 4,746 11,118 425 46,050 355 894 27 400 Unrestricted funds General For the year to 31 December 2022 Restricted funds Total 2022 Donations Visitor box donations General collections Planned giving Gift aid reclaimed Donations for refreshments Donations for prayer candles Bequests Grants, including capital grants 57,722 20,295 48,931 108,893 56,492 3,132 10,061 94,600 5,390 405 516 20,578 78,300 20,295 48,931 108,893 56,492 3,132 10,061 94,600 5,390 426 094 Income from Charltable actlvltles Unrestricted funds Restricted funds For the year to 31 December 2023 Total 2023 Lettings Rents Church fees Mission income Sundry income 41,672 12,424 17,344 41,672 12,424 17,344 71,440 71,440 19
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Income from charltable actlvltles {contlnuedl Unrestrlcted funds Restrlcted funds For the year to 31 December 2022 Total 2022 Lettings Rents Church fees Mission income Sundry income 8,747 14,050 12,539 8,747 14,050 12,539 3,828 39,164 3,828 39,164 4. Income from other trading activities Unrestrieted funds Restricted funds For the year to 31 Deeember2023 Total 2023 Tradlng." Donation from Beverley Minster Shop Events income.. Concerts, events and recitals Photography permits Other fundraising income 24,593 24,593 99,211 2,220 13,027 139,051 99,211 2,220 15,662 141,686 2,635 2,635 Unrestricted funds Restricted funds For the year to 31 Deeember 2022 Total 2022 Tradlng." Donation from Beverley Minster Shop Events income." Concerts, events and recitals Photography permits Other fundraising income 25,000 25,000 76,170 2,315 3,005 106,490 76,170 2,315 3,005 106,490 20
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Investment Income and other Income Unrestricted Restricted Endowment funds funds funds For the year to 31 December 2023 Investment income Income from dividends.. Dividends reTrivable Interest CeIvbIe.' Other interest reTrivable Total 2023 18,964 1,402 20,366 3,834 124 124 3,958 Other income Free Will Offer Contribution Unrestricted Restricted Endowment funds funds funds For the year to 31 December 2022 Investment income Income from dividends.. Dividends re1vable Interest receivable.. Other interest re1vable Totsl 2022 24,781 24,781 Other income Free Will Offer Contribution 19,600 19,600 19,800 19,600 Expenditure on raising funds Unrestricted funds Restricted funds Total 2023 For the year to 31 December 2023 Cost of generating volLJntary income Concert and events costs Other trading and fundraising costs Allocated support costs 396 47,732 2,456 396 47,732 20,750 18,294 50,584 18294 68,878 Unrestrlcted funds Restrlcted funds Total 2022 For the year to 31 December 2022 Cost of generating voluntary income Concert and events costs Other trading and fundraising costs Allocated support costs 17,378 17,378 17,378 17,378 21
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Charitable activities General Restricted Endowment funds funds Total 2023 Forthe yearto 31 December 2023 Wages and salaries Social security Pension costs Clergy expenses and housing costs Visitor ministry Youth and Children's (excluding payroll costs) Mission costs Allocated SUPF)Ort costs Parish Hall and rooms Cost of services and worship Building project costs Mission and charitable giving Contribution lo Diocese common fund Church and minster running costs 154,367 8,942 3,985 5,469 3,186 654 154,367 8,942 3,985 5,459 3,416 654 230 ministry 60 13,818 9,495 6,068 13,8231 29,164 79,000 106,694 417,079 15,108 432,187 60 13,818 9,495 6,098 13,8231 29,164 79,000 127,620 438,265 15,108 453,373 30 20,926 21,186 Governance and support costs (Note 8} Total cost of charitable activity 21,186 General Restricted Endowment funds funds Total 2022 Forthe yearto 31 December 2022 Wages and salaries Social security Pension costs Clergy expenses and housing costs Visitor ministry Youth and Children's ministry lexcluding payroll costs) Allocated support cost5 Parish Hall and rooms Cost of services and worship Building project costs Mission and charitable giving Contribution lo Diocese common fund Church and minster running costs 138,069 9,171 3,485 31,597 169,666 9,171 3,485 2,298 1,170 73 2,298 1,170 73 22,267 8,769 16,511 22,267 8,769 16,511 3,823 10,404 65,000 133,665 446,302 12,202 458,504 3,823 10,404 65,000 121 931 396,850 12,202 409,052 11,734 47,154 2,298 Governance and support costs INole 81 Total cost of charitable activity 47,154 2,298 22
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin {Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Analysls of governance and support costs Unrestricted funds General Restricted funds Total 2023 Accountancy and Independent examination Other governance costs 13,775 1,333 13,775 1,333 Unrestricted funds General Restricted funds Total 2022 Accountancy and Independent examination Other governance costs 11,221 981 12,202 11,221 981 12,202 Net incomellexpenditurel Total 2023 Total 2022 This is stated after chargingllcredilingl Independent examiner's fees Depreciation of fixed asset5 2,760 22,710 2,520 23,321 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 lo be the key management of the charity. 11. Staff costs The aggregate payroll costs were as follows.. Total 2023 Total 2022 Staff costs during the yearwere Wages and salaries Social security costs Pension costs 154,367 8,942 3,985 167,294 169,666 9,171 3,485 182,322 The average number of persons (including senior management leaml employed by the charity during the year were as follows.. Total staff 2023 No. 2022 No. No employee received emoluments of more than £60,00012022- no employeel during the year. 23
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 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 enlilled 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 Land and buildings Furniture and equipment Total Cost At 1 January 2023 Additions Disposals Al 31 December 2023 Depreciation Al 1 January 2023 Charge for the year Disposals At 31 December 2023 Nel book value At 31 December 2023 At 31 December 2022 1,140,000 459,723 8,675 1,599,723 8,675 1 140 000 468 398 1,608,398 174,568 22,710 174,568 22,710 197 278 197 278 1 140,000 1,140,000 271,120 285,155 1,411,120 1,425,155 The value of unrestricted freehold propety included above is £630,00012022 - £630,000). Revaluation The fair value of the Charity's land and buildings was revalued on 3rd April 2019 by John English Bsc M.R.l.C.S a chartered surveyor, an independent surveyor. The Iruslees are of the opinion that there is no material change al 31 St Dember 2023. The next revaluation is due in 2024. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £917,500 12022 - £917,500). The company's land and buildings include The Church Hall (including the Emm8us 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 ISOFAI. 24
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin {Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 14. Flxed asset Investments Investment in Subsidiary Quoted Investments Total Cost or valuation Al 1 January 2023 Revaluation Disposals Additions Adjustment in respect of prior period Al 31 December 2023 Net book value At 31 Decem[ 2023 At 31 December 2022 25,000 385,222 7,713 15,2251 1,402 386 388 726 410,222 7,713 15,2251 1,402 386 413726 25,000 25,000 388,726 385,222 413726 410,222 Investments which are included al their market value as al 31 December 2023 have a historic cost of £334,060 12022 - £337,883). 2023 2022 Interest reiVed from Bank and other Deposit Accounts Dividends received from PCC investments 3,958 18,964 22,922 5,548 14,001 19,549 The investments earned a gross rale of return on market value of 3.27° 2.75'/0 The PCC receives haw the income from the Estsle of Grace Farrar deceased, bul does not hold or control the investments, which are administered by the Diocese of York. The lotsl value of the investments was £363,021 which generated a total income of £11,86412022 - £9,731) a return of 3.27Yo12022- 2.75 /0l- The income was divided equally between the PCC and Bevedey Minster Old Fund. Details of undertakings Details of the investments in which the charity holds 200/0 or more of the nominal value of any class of share capital are as follows". Undertaklng Country of Holdlng Proportion of voting Incorporation rights and shares held Prlnclpal actlvlty Subsidiary undertakings Beverley Minster Shop Limited England and Ordinary (company number 041031611 Wales 1000 Other retail sale of new goods in specialised stores The profit for the financial period of Beverfey Minster Shop Limited was £24,593 {2022.' £25,064) and the aggregate amount of capital and reserves at the end of the period was £25,000. The Beverley Minster Shop Limited profil of £24,593 was donated to Beverfey Minster. 25
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 15. Stock 2023 2022 Stocks 3,444 3,535 16. Debtors 2023 2022 Trade debtors Prepayments Accrued income VAT recoverable Other debtors 20,454 1,026 7,166 1,447 1,764 16,564 34,650 61,591 3,322 17,186 41,988 17. Creditors: amounts falling due within one year 2023 2022 Trade Creditors Accruals Deferred ineome Social security and taxes Other creditors Agency eolleclions 9,632 28,480 300 2,179 3,720 7,713 52,024 28,911 18,753 200 2,673 8,212 5,730 64,479 2023 2022 Deferred income at 1 January Resources deferred in the period Amounts released from previous periods Deferred income at 31 December 200 300 12001 300 3,916 200 13,9161 200 18. Credltors: amounts falllng due after one year 2023 2022 other creditors 26
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 19. Penslon 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. CVVPF has sections.. 1. the Defined Benefits Scheme 2. the Pension Builder Scheme, which has two subsections,. a deferred annuity section known as Pension Builder Classic, and, a cash balanTr 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 sel and reviewed by the Church of England Pensions Board from lime to lime. Discretionary increases may also be added, depending on investment returns and other factors. Penslon Bullder 2014 is a cash balance scheme that provides a lump sum which Members use lo 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 sudivIsion 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 lo 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 payable12023'. £3,985, 2022.. £3,485). A valuation of the Pension Builder Scheme is carried out once every three years. The most recent valuation was carried out as at 31 Dernber 2019. For the Pension Builder Classic section, the 2019 valuation revealed a deficit of £4.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2024, the Board chose to grant a discretionary bonus of 6.70/9 to both pensions not yet in payment and pensions in payment In respect of service prior to April 1997,. and a bonus on pensions in payment In respect of post April 2006 service so that the pension increase was 5'/o Iwhere usually it would be calculated based on inflation up to 2.50/91- This followed improvements in the funding position over 2023. There is no requirement for deficit payments at the current lime. For the Pènsion Builder 2014 section, the 2019 valuation revealed a surplus of £5.5m on the ongoing assumptions used. There is no requirement for deficit payments al the current time. The next valuation is due as al 31 December 2022. Calculations for this are currently under way. The legal slruelure of the scheme is such that if another employer fails, Bevedey Minster PCC could become responsible for paying a share of the failed employer's pension liabilities. 27
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 20. Commitments; Operating leases There were no commitments at the year end12022- none). 21. Funds Balance at 1 January 2023 Income Expenditure Transfers Other Balance at recognised 31 gainslllosses) December Revaluation 2023 For the year to 31 December 2023 Unrestricted funds General Designated Unreslricled funds Restricted funds Endowment funds 893,030 403,079 1,296,109 260,908 597,981 538,054 90 538, 144 53,798 1,402 {482,7711 583 565 1,148 11,1481 4,413 953,309 403,734 1,357,043 274,078 602,389 1482,7711 139,4801 4,413 3,006 Total funds 2,154,998 593,344 522,251 7,419 2,233,510 Balance at 1 January 2022 Income Expendlture Transfers Other Balance at recognised 31 gainsl{losses) December Revaluation 2022 For the year to 31 December 2022 Unrestricted funds Geneml Designated Unreslricled funds Restricted funds Endowment funds 650,838 423 651 1,074,489 398,938 589,356 601,098 1426,4311 121,103 153,5781 893,030 403,079 1,296,109 260,908 597,981 601,098 20,578 1426,4311 100,531 147,1541 1111,4541 12,2981 10,923 153,5781 Total funds 2 062 783 621 676 475,883 2 154 998 28
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Funds (continued) Balance at 1 January 2023 Income Expenditure Transfers Other recognised gainslllossesl Irevaluations Balance at 31 December 2023 For the year to 31 December 2023 Unrestricted funds General Sl Peter's General fund Sl. Leonard's General fund Minster General fund Tickton LEP General fund 69,063 14,521 804,150 5,296 893,030 34,133 24,474 463,917 15,530 538,054 122,2801 110,2071 1434,7831 15,501 482,771 12001 7,675 16,6821 210 583 80,716 36,463 831,015 5,115 953,309 4,413 4,413 DesiTgn8ted Assistant Director of Music Minster Development Fund St Peters Garden Project 565 565 403,079 go 403,734 403,079 90 90 403,079 565 Total unrestricted funds 1296 109 538 144 482 771 1 357 043 Restricted Funds Dorcas Fund Community Connections Project Minster Bells Fund Sanctuary John Cooper Melling Fund Organ Fund Tickton Development Fund Volunteer & Hospitality Fund Youth and Children Fund Assistsnl Director of Music Choral Foundation Tickton community Tickton (Naylor Trust Inv) 851 40 20,035 11041 18,4451 787 11,590 11,780 111,0091 771 2,175 12,1751 3,851 2,244 3,851 158.696 73,169 15,697 166,872 79,027 16,8851 12,9291 13031 15,5351 12,9291 16,000 5,783 15,7831 15651 565 10,918 500 10,065 19,8051 11,178 15001 339 339 Total restricted funds 260,908 53,798 139,4801 11,1481 274,078 Endowment Funds Total Endowment funds 597 981 602 389 Total Funds 2 154 998 593 344 522 251 2233510 29
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2022 Funds {continued) Balance at 1 January 2022 Income Expenditure Transfers Other recognised gainslllos$esl Irevaluations Balance at 31 December 2022 For the year to 31 December 2022 Unrestricted funds General Sl Peter's General fund Sl. Leonard's General fund Minster General fund Tickton LEP General fund 28,400 19,337 595,119 7,982 650 838 54,976 25,461 503,964 16,697 601 098 114,3131 130,2771 1362,4581 19,383 426 431 69,063 14,521 804, 150 5,296 893 030 121,103 153,5781 121 103 Designated Two churches Assistant Director of Music Minster Development Fund MLJSIC and Choir Fund Organ Fund Mission fund Vicars garden Fund Youth and children Fund 1,592 11,722 403,079 3,050 4,077 130 13 12 423,651 11,5921 111,7221 403,079 13,0501 14,0771 11301 1131 403,079 Total unrestrleted funds 1,074,489 601,098 426,431 100,531 53,578 1,296,109 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 80 851 1801 851 276 12761 1181 43,890 98,630 16,231 167,929 90,731 1871 121,0111 11001 143,8901 135,4191 161,0361 116,2311 2,175 11,0571 166,872 79,027 111,7041 87 21,011 665 565 10,918 500 20,578 19,6601 500 1.000 Total restricted funds 398,938 20,578 147,1541 1111,4541 260,908 Endowment Funds Total Endowment funds 589 356 597 981 Total Funds 2 062,783 621,676 475,883 53,578 2,154,998 30
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Funds {continued) For the year to 31 December 2023 Balance at 1 January 2023 Income Expenditure Transfers Other Balance at recognised 31 gainslllossesl December 2023 Endowment funds Investment Endowment Music Endowment Property Endowment Total endowment funds 65,315 22,666 510,000 597,981 4,754 11,7481 70,069 22,320 510,000 602,389 1,402 1.402 3,006 For the year to 31 December 2022 Balance at 1 January 2022 Income Expenditure Transfers Other recogni$ed gainslllossesl Balance at 31 December 2022 Endovmient funds Investment Endowment Music Endowment Property Endowment Ticklon Naylor Fabric Totsl endowment funds 60,307 22,428 506,224 397 589,356 5,008 238 6,074 397 10,923 65,315 22,666 510,000 12,2981 2,298 597,981 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, fInand by bequests and major donations. This policy was established in 2010. Restricted funds include.. Community Connections Project.. This was set up In 2023, funded by a grant from the Deflog Foundation, to connect the people of Beverley with the heritage of their town, ils community and its culture via workshops, events and learning opportunities. Minster Bells Fund.. Projects were identified in 2023 for which the Friends of Beverley Minster agreed lo provide funding. This fund holds the contributions received, less involS paid, lo date. Sanctuary Fund.. A fvnd 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 resloffition 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 this fund has now closed following settlement of the final invoice. John Cooper Melling Fund. In previous years this was reported as an Independent TrusL During 2023, following discussions with the Melling family, the balance was transferred lo the PCC account as a reslri¢led fund, to be administered by the Incumbent and Youth Minister. It is still to be used for Children's and Youth Ministry projects al Beverley Minster that fall outside the regular expenditure and salary covered by other Youth and Children Funds held within the PCC accounts. Organ Fund.. A fund established lo maintain the Minsterfs organ, which requires regular tuning and a major refurbishment every 25-30 years. 31
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 Tickton Development Fund.. This was sel up as a restricted fund lo allow for improving accessibility into the church and providing kitchen facilities within the church. The Fund now represents the value of the asset Volunteer and Hospitality Fund.. This was sel up lo manage a restricted donation received in 2022. Funds are available to ensure that the invaluable work of our volunteers is recognised and so that hospitality can be provided al specified significant events. The reslriclion includes conditions as lo the amount that can be spent each year. Choral Foundation.. A fvjnd sel up to allow choristers at the Minster to access instrumental lessons irrespective of their financial Circumstan$. Following support from the Friends of Beverley Minster, an initial grant was reiVed from the Deflog Foundation in 2022, with further funding from them In 2023. 22. Analysis of net assets by fund As at 31 December 2023 Tangible fixed assets Investments Nel current assets Lon term liabilities Unrestricted Restricted Endowment Total 827,951 73,169 510,000 1,411,120 25,000 296,337 92,389 413,726 504,092 195,4281 408,664 1,357,043 274,078 602,389 2,233,510 As at 31 December 2022 Tangible fixed assets Investments Nel current assets Lon term liabilities Unrestricted Restrlcted Endowment Total 913,731 511,424 1,425,155 25,000 65,315 410,222 362,912 21,242 319,621 319,907 {64,5331 1,301,643 255,374 597,981 2,154,998 23. Connected Persons- Members of the PCC During 2022 the clergy received the following.. 2023 2022 Accommodation costs 2298 2,298 2,843 There were no other related party transactions in the year. 24. Endowment funds Following enactment of the Church Accounting Regulations 2006, the Financial Statements include both the income arising from and the capitsl 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 32
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin (Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 25. Independent Trusts Beverley Minster has an involvement with some 5 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 Ecclesiaslieal 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. 11 is the PCC'S aim lo 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: 2023 2022 Colle¢lions for others Friends of Beverley Minster Funeral Collections 6,388 778 547 7,713 4,050 272 5,730 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. 33
The Parochial Church Council of the Ecclesiastical Parish of SL John and SL Martin {Beverley Minster) Notes to the Financial Statements for the Year Ended 31 December 2023 29. Net Cash {Used Inl Operatlng Actlvltles 2023 2022 Net movements in funds Lossesllgainsl on fixed asset investments Gain on revaluation of tangible fixed assets Income from investments Depreciation Other adjustments Ilncreaselldecrease in stocks Ilncreaselldecrease in debtors Increaselldecreasel in creditors Net Cash provided byllused inl Operating Activities 78,512 {7,419) 86,681 53,578 124,3241 22,710 386 91 19,603 12,454 119,5491 28,856 701 129,3801 30,708 151 595 30. SOFA For the Year ended 31st December 2022 Unrestricted Restricted Endowment funds funds funds Total funds 2022 Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income Other income Total income 405,516 20,578 426,094 39,164 106,490 30,329 19,600 601,099 39,164 106,490 30,329 20,578 621,677 Expenditure on: Raising funds Charitable activities Total expenditure 117,3781 409 052 1426,4301 117,3781 458 504 12,2981 1475.8821 147, 1541 Net lexpenditurel before transfers Transfers between funds 174,669 100,531 126,5761 1111,4541 12,2981 10,923 145,795 Other recognlsed galnslllossesl Gainlllossl on revaluation of investments Net movement in funds Total funds brought forward Total funds carried forward 153,5781 153,5781 221,622 1138,0301 8,625 92,217 1,074,487 398,938 589,356 2,062,781 1,296,109 260,908 597,981 2,154,998 34