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 Dember 2024
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin {Beverley Minster) Contents Admin and reference details............................................................................................................................................. Trustees Report forthe Year Ended 31 December 2024...................................................................................... Statement of Trustees, Responsibilities . -11 Independent Examinerfs Report to the Trustees of the Parochial Church Council of The Ecclesiastical Parish of St. John and St. Martin (Beverley Minsterl.........................................................................................................12 Statement of Financial Activities forthe Year Ended 31 December 2024..........................................................13 Balance Sheet as at 31 December 2024..............................................................................................................14 Statement of Cash Flows for the Year Ended 31 December 2024......................................................................15 Notes to the Financial Statements for the Year Ended 31 December 2024.......................................................16
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin {Beverley Minster) Reference and Administrative Details Incumbent Rev. Canon Jonathan Baker Principal Office The Parish Centre 38 Highgate Beverley HU17 ODN Charity Registration Number 1132704 Bankers Minster Barclays Bank PLC 115 King Edward Street Hull HU13RL CCLA Investment Management Ltd The CBF Church of England Funds One Angel Lane London EC4R 3AB St. Leonard's Virgin Money 10-12 Paragon Street Hull HU13ND St. Peterfs Natwest 60 Market Place Beverley HU17 8AA The Church in Tickton Virgin Money 10-12 Paragon Street Hull HU13ND Independent Examiner Jessica Lawrence FCA CTA Azets Audit servIs Limited 12 King Street Leeds LS12HL Accountants Dymond Chartered Accountants Office F1, Beverley Enterprise Centre. Beck View Road, Beverley. HU17 OJT
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin {Beverley Minster) Trustees Report for the Year Ended 31 December 2024 The Trustees present the annual report and financial statements ofthe charity forthe year ended 31 December 2024. The financial statements have been prepared in accordance fjth the accounting policies set out in note 1 to the financial statements and compty with the Charity's goveming 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 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 (PCC) has the responsibilty 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 includesthe mission ofthe Minster's daughterchurches ofst. 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 ofthe Parish Hall, Emmaus Room, Peter Harrison Room and the Pansh 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 Wicar and cooperating in all matters of concem 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 vtho 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 throughoLrt 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 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 Perfomiance Church attendance and electoral roll. Average attendance at the Minster and associated churches is shown below. 2024 2023 166 29 36 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 19 35 11 14 21 23 233 271
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2023 Communicants at Easter and Christrnas Easter Day 2024 2023 294 226 49 15 21 311 Christmas Day 2024 2023 271 300 34 27 Beverley Minster St Leonard's, Molescroft The Church in Tickton St Peter's. Woodmansey Total 15 22 375 20 325 19 346 Conducting weddings, funerals & baptisms is an important element in the life ofthe church and makes a valuable contribution to the wider community. In 2024, we conducted 21 baptisms (25 in 2023), 13 weddings (17 in 2023) and 33 funerals (33 in 2023). There were 310 members on the electoral roll presented at the 2024 APCM (289 in 20231. Mission and Minis 2024 saw the expansion of the ministry team with the arrival of Rev. Eileen Wallis in May, followed by the priesting of Rev. Charlie Shefford. With the team back up to a level not seen since 2022, we were able to run o Alpha Courses and a SHAPE Course {on personal discipleship) leading to a Confirmation Service in November at which 7 adults and two youngsters were confimied by the Bishop of Hull. Several other adults returned to faith at the same time. Two new small groups were set up as a result. Our operational capacity has also been much improved by the appointment of a Director of Operations in February who has brought much needed expertise in matters of compliance, governance and HR, as well as events and volunteer management. A new Safeguarding Officer is reviewing all our Safeguarding policies and procedures and making sure that training is provided at all levels. Work has been done revising the Minsterfs Vision Strategy duMent, now called 'Minster 28,. This will be launched in early 2025, and wll focus on discipleship, youth and children, the pla of music in our mission and ministry, and taking forward the next phase of the consetvation work due to be carried out on the Minster and its ancillary buildings. In this connection, an 'Expression of Interest, was approved at the end of the year by the National Lottery Heritage Fund. This is the first step towards a bid for £4 million as part of a £6.6 million project to renew the retroquire, quire and lesser north transept roots, conserve the Great East Window, and renew the lighting system, as well as enabling an extensive range of community engagement activity and fresh interpretation. A bid for a development grant will be submitted in May 2025. The choir continues to grow, and when the Junior choir is taken into account now numbers over 100 people. This is an extraordinary scale ofoperation fora parish choir. The Music Department also runs regular free Friday Lunchtime concerts which have a growing following and generate a useful income. as well as a new partnership with the catering department of the East Riding College. The 9.15am service has now been running fortwo year5 and is settled. The Sunday afternoon 'Cr055ing' service has been paused as a review is made of its content and sustainability. Eight Joint Services were held, combining the 9.15 and 11am congregations, in order to maintain a sense of unity across the Minster family. A pattern of Family Days three times a year has been re-established since the pandemic. with numbers attending growing to several hundred each time. The young people's'drop-in, session on Tuesday aftemoons has enjoyed recent growth and now feels much more viable. A new fortnighdy Spirituality Group has been set up and is growing as it explores different forms of Christian spirituality. A new monthly Ladies Lunch Club has begun and now has over 40 members. We also held our second service marking Ukrainian Independence Day and welcomed over 100 members of the Ukrainian community.
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2024 Our community engagementteam offered a diverse programme of heritage craftworkshops, most ofwhich were sold out. The annual Christmas Tree Festival continues to grow and this year welcomed nearly 140 sponsoring organisations. This is a great shop window for community life across Beverley. For the first time we welcomed a successful lightshowfrom Luxmuralis. who arean annual fixture atmany Cathedrals. and this attracted several thousand visitors. The daughter churches at Molescroft, Tickton and Woodmansey continue to be served by good local leadership, supported by the clergy. Numbers are still growing as part ofthe continuing recovery since the pandemic. At the end of 2024 St Peterfs Woodmansey was preparing for the installation of a new kitchen and toilets as well as disabled aCss, and this will be delivered early in 2025. Minster 28 will provide more opportunities for the daughter churches to benefit from some of the new activity at the Minster itself. Overall there has been much to encourage us and we look forward to taking some of these initiatives fvrther foward in 2025. Financial Review We began 2024 wth a clear image of our financial position, optimistic that day to day financial efficiency was continuing to improve and with a budget accounting for only a small loss. Whilst the overall 2024 Financial Statements show a loss of £50,000. our day-ttrday expenditure suggests a break-even situation compared with a forecasted deficit of £10,000. The bulk of difference belween the day-to-day and overall situations are down to the planned expenditure of designated funds during 2024. During the year, the Minster bookkeeping has remained in-house, allowng for better understanding ofthe areas needing improvement and transparency. The finances of the Daughter Churches continued to be handled by the respective Treasurers and Finance Assistsnt, and we are very gratefvl for their continued support. Due to operational changes, there have been significant increases in both total income and expenditure compared with 2023 and the budget for 2024. There were two major contributors to our increasing expenditure.. Firstly, there was a significant increase in our energy bills from 2023 to 2024, predominantly arising from a return to heating the Minster during the winter months in 2024. Secondly, urgent work was required to make safe the Parish Hall bell tower. These combined come to a similar value as the large donations received this year. Also of note is expenditure of around £40,000 from previously designated ftjnds to increase administrative support personnel. In terms of income, increases were observed across most donations and collections, but we were particularly thankful for a small number of large donations totalling 446,000. Our clergy, staff and volunteers are continuously trying to modemise giving and donations by promoting contactless payments and the Parish Giving Scheme. We also continue to offer other methods of donation such as cash and regular and one-off gifts and are grateful to all our givers. They represent a signfficant part of our income and we could not function without their generosity. Furthermore, we are also looking towards securing our future with the recent Generous Living ampaign aiming to communicate the financial needs of the Minster to our congregation. Enterprise activity also delivered an increased revenue of -170kn compared to the budget. We met our pledge to the Diocese for our Free Mfill Offer, sending £87,000 in 2024 - an increase on 2023, wth a further increase planned for 2025. We aim to cover our clergy costs by 2026.
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2024 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 reseNes required to cover current running costs and are comfortable wtih a level in excess of this. Current monthly running costs are approximately £30,000. The level of free reseeS at 31st December 2024 is £185,279. which equates to over 6 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 plad in low and medium risk ethical investments wtth the objecttve of receiving income. The investment policy is to achieve a rate of retum. based on the current value of investments, of at least 10A more than the prevailing rate on the Church of England Deposit Account.
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin {Beverley Minster) Trustees Report for the Year Ended 31 December 2024 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 reviewng the PCC'S annual budget. The Treasurer circulates quarterly management accounts to the Committee. showng 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 repair of which is delegated annually to a separate charity, Beverley Minster Old Fund. Of most immediate concern is the condition ofthe roofs and the east and west stained-glass windows. There is also a need for restoration 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 Capitsl Works Board. Structure Governance and Mana ement 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 Councils Powers Measure (1956) and The Church Representation Rules. Charitable status was received on 13 November 2009. Committees The Parochial Church Council meets regularfy 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 ofthe 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 the implementation and revision of the 2021 Vision Strategy Mission Action Committee: advises on partnerships 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 "OUrd facing" parts of the Minster's life Strategy Group for Visitor Ministry: takes an overview of all aspects of our interactions as a church with our visitors to inform strategic planning and to enhance understanding of the sacred through the rich heritage of our building HR Committee: reviewstheterms and conditions underwhich staff are employed and advises on staffing issues
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin {Beverley Minster) Trustees Report for the Year Ended 31 December 2024 PCC Membership - List of members as at 31°, December 2024 Ex-officio Clergy." Rev. Canon Jonathan Baker Rev. Eileen Wallis Rev. Charlie Shefford Churchwardens Paul Collins Sandra Keating Sandra King Dawn Pollard Wardens of the Daughter Churches Andrew Hancock (St. Leonard's Molescroftl Dawn Pollard (St. Peter's Woodmansey) Kate Powell (St Paul's Ticktonl Deanery Synod members- elected until 2026 Dawn Pollard Eric Doyle PCC Members elected until 2025 Mike Dent Mellissa Dolman Eric Doyle Jane Ewbank Kevin Wheeldon Derek Kirby (c¢>optedl EleGted until 2026 Patricia Brunt Chris Chipperton Rod McPhee Sue Robson Joyce Shaw Elected until 2027 Lia Argentou Catherine Drake Matthew Leivers Hugh Meyer Marian Snowden 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 Chaimian.. Rod McPhee Treasurers.. Lia Argentou (appointed 12 March 2024) and Matthew Leivers (20 May 20241 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*lected.
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin (Beverley Minster) Trustees Report for the Year Ended 31 December 2024 Beverley Minster Shop Ltd The PCC is the beneficial owner of1 OOYO of the issued Share Capitsl 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 Beverfey Minster. The financial result of Beverley Minster Shop Ltd is included in the PCC'S financial statements (see note 14), in accordance with the Accounting and Reporting by Charities: Statement of Recommended practi SORP (FRS 102) 2019. 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. 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. 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 Bevedey Minster. It is managed by Independent Trustees and is not a responsibility ofthe 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 omaments and fijmishings,. 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 wtth the Charity Commission on 12 September 1963 and is administered by the Diocese of York. Churchyard The Minster Churchyard is 'closed' to further burials and under the Local Govemment 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 $1 December 2024 be adopted and approved for submission to the Annual Parochial Church Meeting. The annual report was approved by the PCC on and signed on its behalf by.. Rev. Canon Jonathan Baker Chair of Trustees Lia Argentou Treasurer io
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 ofthe 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 conrn basis. it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose wth reasonable accuracy at any time the financial position ofthe 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. li
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 Ecclesiastical Parish of St. John and St. Martin (Beverley Minster) I report on the accounts of the charity for the year ended 31 December 2024 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 l 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 forthe preparation of the financial ststements 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 14515}Ib} of the 2011 Act. Independent examinerfs statement Since the Charity's gross income exeded £250,000 your examiner must be a member of a body listed in section 145 ofthe 2011 Act. I confimi that l am qualrfied to undertake the examination because l am a member of The Institute of Chartered Accountsnts in England and Wales, which is one ofthe 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.. 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 financial statements do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the account5 give a true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no other matters in connection wf(h 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. 0810512025 Jessica Lawrence Azets Audit Services Limited 12 King Street Leeds LS12HL 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 2024 Note Unrestricted Restricted Endowment funds funds funds Total Total funds 2024 funds 2023 Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investments Other income Total income 314,722 57.514 155,992 26.866 68,631 383,353 57,514 159,256 28.094 355,894 71,440 141,686 24,324 3,264 1,228 555.094 71.895 1,228 628.217 593,344 Expenditure on: Raising funds Charitable activities Total expenditure {49,754) 552,424 (602,178) (25,320) 50,994 (76,314) (75,074) (68,878) 603,418 453,373 {678,492) (522,251) Net incomellexpenditure) before transfers Transfers between funds {47,084) (4,419) 1,228 (50,275) 71,093 78,868 (78,868) Other recognised Ilosses)Igains Gainllloss} on revaluation of investments 14 Gainllloss} on sale of investments Revaluation gain Net movement in funds Total funds brought fomard Total funds carried forward 5,119 439 5,558 7,713 14 (294) 5,000 6,667 602,389 609,056 5,000 (39,717) 2,233,510 2,193,793 36,903 1,357,043 1.393,946 (83,287) 274,078 190,791 78,512 2,154,998 2,233,510 20 A full comparative SOFA can be found at note 29 to these financial statements. The statement of financial activities indudes 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 2024 Fixed assets Note 2024 2023 Tangible assets Investments 13 14 1,397,210 420,513 1,411,120 413,726 1,817,723 1,824,846 Current assets Stocks Debtors Cash at bank and in hand 15 16 3,212 68,090 405.226 3,444 41,988 415,256 476,528 460,688 Creditors: Amounts falling due within one year 17 100,458 52,024 Net current assets 376,070 408,664 Total assets less current liabilities 2,193,793 2,233,510 Creditors: Amounts falling due after more than one year Net assets 2,193,793 2,233,510 Funds of the charity: Endowment funds Restricted funds 609,056 190,791 602,389 274,078 Unrestricted funds 1,393,946 1,357,043 Total funds 20 2,193,793 2,233,510 The financial statements on pages 13 to 35 were approved by the Trustees, and authorised for issue . Slgned on their behalf by= 0710512025 and Rev. Canon Jonathan Baker Chair of Trustees Lia Argentou Treasurer 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 2024 Note 2024 2023 Cash flows from operating activities: Net cash provided byl{used inl operating activities 28 30,231 77,105 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 28,094 (1,229) 24,324 (1,4021 4,930 (8,6751 19,177 96,282 318,974 415,256 (6,663) 20,202 (10,029) 415,255 405,226 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 2024 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 Ecdesiastical 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 ODN. 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 Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) (Charities SORP IFRS 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 sterfing. vthich is the functional currency of the Charity. Monetary amounts in these financial ststements 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 borrowngs however does rety on the general goodwill ofthe public for much of its income. 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 fvnds and any conditions linked to the grants have been met. Vvhere 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. Deferred income Deferred income represents amounts received for fijture 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 fijture accounting periods., or the donor has imposed conditions which must be met before the charity has unconditional entidement. Investment income Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the harity., this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notificab'on has been received of the dividend due. 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 2024 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 osts 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 voluntsry 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 pmperty and movable church furnishings Consecrated and beneficed propety of any kind is exduded from the accounts by S.1012}la) of the Charities Act 2011. No value is placed on movable church fumishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal Sin the PCC considers this to be inalienable propety. All expenditure incurred in the yearon 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 Parish Hall, Peter Harrison Room, Parish Centre and the residential property at 23 Outer Trinities were professionally valued in February 2025 by Emma Bennett MRICS, an independent Chartered Surveyor. The land and properties were revalued on the basis of Fair Value as at 31 December 2024. 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 vffltten 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 2024 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 beeen 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 harged 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 wth the objective of receiving income. The investment policy is to achieve a rate of retum, based on the current value of investments, of at least 10A 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 balan sheet when the Charity becomes paty to the ontractual provisions of the instrument. Financial assets and liabilities are offset, wtth the net amounts presented in the financial ststements, 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-temi 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 cuent liabilities. rf they do not have an unconditional right, at the end of the reporting period, to defer sethement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least e1ve 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 2024 Fund structure Unrestricted funds.. represent the funds ofthe 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 foryn 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 SeNiS 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 temiination benefits. Leases Rentals payable under operating leases, including any lease incentives reived. 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 2024 Income from donations and legacies Unrestricted funds General For the year to 31 December 2024 Restricted funds Total 2024 Donations Wisitor box donations General collections Planned giving Gift aid reclaimed Donations for refreshments Donations for prayer candles Bequests Grants, including capital grants 45,059 27,243 57,654 114,259 47,044 5,400 10,468 52,156 97,215 27,243 57,654 114,259 47.044 5,400 10.468 7,595 314,722 16,475 68,631 24,070 383,353 Unrestricted funds General For the year to 31 December 2023 Restricted funds Total 2023 Donations Wisitor 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 51,039 Income from charitable activities Unrestricted funds Restricted funds For the year to 31 December 2024 Total 2024 Lettings Rents Church fees Mission income Sundry income 34,190 12,594 10,730 34,190 12,594 10,730 57,514 57,514 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 2024 Income from charitable activities (continued) 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 4. Income from other trading activities Unrestricted funds Restricted funds For the year to 31 December 2024 Total 2024 Trading.. Donation from Beverley Minster Shop Events income." Concerts, events and recitals Photography permits Other fundraising income 20,626 20,626 118,651 2,849 13.866 155,992 118,651 2,849 17,130 159,256 3,264 3,264 Unrestricted funds Restricted fvnds For the year to 31 December 2023 Total 2023 Trading.. Donation from Beverley Minster Shop Events income." Concerts, events and recitsls 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 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 2024 Investment income and other income Unrestricted Restricted Endowment funds funds funds For the year to 31 December 2024 Investment income Income from dividends." Dividends re1vable Interest receivable.. Other interest receivable Total 2024 19,798 1,228 21,026 7,068 26,866 7,068 28,094 1,228 Other income Free Will Offer Contribution 26,866 1,228 28,094 Unrestricted Restricted Endowment funds funds funds For the year to 31 December 2023 Investment income Income from dividends." Dividends receivable Interest receivable.- Other interest receivable Total 2023 18,964 1,402 20,366 3,834 22,798 124 124 3,958 24,324 1,402 Other income Free Will Offer Contribution Expenditure on raising funds Unrestricted funds Restricted funds Total 2024 For the year to 31 December 2024 Cost of generating voluntary income Concert and events costs Other trading and fundraising costs Allocated support costs 329 45.475 3,950 329 45,475 29,270 25,320 49,754 25,320 75,074 Unrestricted funds Restricted funds Total 2023 For the year to 31 December 2023 Cost of generating voluntary 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 18,294 68,878 22
The Parochial Church Council of the Ecclesiastical Parish of St. John and St. Martin {Beverley Minster) Notes to the Financial Ststements for the Year Ended 31 December 2024 Charitable activities General Restricted Endowment funds funds Total 2024 For the year to 31 December 2024 Wages and salaries Social security Pension costs Clergy expenses and housing costs Visitor ministry Youth and Children's (excluding payroll costs) Mission costs Allocated support costs Parish Hall and rooms Cost of services and worship Recruitment and training costs Building project costs Mission and charitable giving Contribution to Diocese common fund Church and minster running costs 191.646 10,527 6.107 5,378 3,329 826 191,646 10,527 6,107 5,378 3,329 826 ministry 181 18.417 46,262 12.097 1,460 2,650 2,831 18,417 46,262 12,173 1,460 76 15.889 87,000 141,401 540.520 11,904 552.424 15,889 87,000 189,669 591,514 11,904 603,418 48,268 50,994 Governance and support costs (Note 8) Total cost of charitable activity 50,994 General Restricted Endowment funds funds Total 2023 For the year to 31 December 2023 Wages and salaries Social security Pension costs Clergy expenses and housing costs Visitor ministry Youth and Children's ministy (excluding payroll costs) Mission costs Allocated support costs Parish Hall and rooms Cost of seNices and worship Building project costs Mission and charitable giving Contribution to Diocese common fijnd Church and minster running costs 154.367 8,942 3.985 5.469 3,186 654 154,367 8,942 3,985 5,469 3,416 654 230 60 13.818 9,495 6.068 (3.823) 29.164 79.000 106,694 417.079 15,108 432.187 60 13,818 9,495 6,098 (3,823) 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 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 2024 Analysis of governance and support costs Unrestricted fvnds General Restricted funds Totsl 2024 Accountancy and Independent examination Other governance costs 6,182 5,722 11,904 6,182 5,722 11,904 Unrestricted funds General Restricted funds Total 2023 AGGountancy and Independent examination other governance costs 13,775 1,333 15.108 13,775 1,333 15,108 Net incomel{expenditure) Total 2024 Total 2023 This is stated after chargingl(crediting) Independent examinerfs fees Depreciation of fixed assets 3,000 24.288 2,760 22,710 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= Total 2024 Total 2023 Staff costs during the year were Wages and salaries Social security costs Pension costs 193,660 10,488 5,366 209,514 154,367 8.942 3,985 167,294 The average number of persons (including senior management team) employed by the charity during the year were as follows.. Total stsff 2024 No. 12 2023 No. 10 No employee received emoluments of more than £60,000 (2023- 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 Ststements for the Year Ended 31 December 2024 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 Charty 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 Land and buildings Fumiture and equipment Total Cost At 1 January 2024 Additions Revaluation Adjustments Disposals At 31 December 2024 Depreciation At 1 January 2024 Charge for the year Disposals At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 1,140,000 468,398 6,663 1,608,398 6,663 5,000 (1,284) 5.000 {1,284) 1,145,000 473,777 1,618,777 197,278 24.289 197,278 24.289 221,567 221,567 1.145,000 1,140,000 252,210 271,120 1,397,210 1,411,120 The value of unrestricted freehold property included above is £630.00012023- £630,000). Revaluation The fair value of the Charity's land and buildings was revalued on 10 February 2025 by Emma Bennett MRICS a chartered surveyor, an independent sueyor. to provide valuations as at 31 December 2024. The nexi revaluation is due in 2029. Had this class ofasset been measured on a historical cost basis. the carrying amountwould have been £917,500 {2023 - £917,500). The company's land and buildings include the Parish Hall (including the Emmaus Room), Peter Harrison Room, Parish Centre and 23 Outer Trinities. 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 Ststements for the Year Ended 31 December 2024 14. Fixed asset investments Investment in Subsidiary Quoted Investments Total Cost or valuation At 1 January 2023 Revaluation Disposals Additions Adjustment in respect of prior period At 31 December 2023 Net book value At 31 December 2024 At 31 December 2023 25.000 388,726 5,558 413,726 5,558 1,229 1,229 25.000 395.513 420,513 25,000 25,000 395,513 388,726 420,513 413,726 Investments which are included at their market value as at 31 December 2024 have a historic cost of £335,288 {2023 - £334,060). 2024 2023 Interest received from Bank and other Deposit Accounts Dividends received from PCC investments 7,068 19,797 26,865 3,958 18,964 22,922 The investments earned a gross rate of retum on market value of 3.33% 3.27° The PCC receives haff the income from the Estate of Grace Farrar deased, but does not hold or control the investments, which are administered by the Diocese of York. The total value of the investments was £378,767 which generated a total income of £12,600 (2023- £11,864} a retum of 3.33 % (2023- 3.27 %). The income was divided equally beeen the PCC and Bevedey Minster Old Fund. Details of undertakings Details of the investments in vthich the charity holds 20°A or more of the nominal value of any class of share capital are as follows= Undertaking Country of Holding Proportion of voting incorporation rights and shares held Principal activity Subsidiary undertakings Beverley Minster Shop Limited (company number 04103161) England and Ordinary Wales 100% Other retail sale of new goods in specialised stores The profit for the financial period of Beverfey Minster Shop Limited was £20,626 12023.. £24,593) and the aggregate amount of capital and reserves at the end of the period was £25,000. The Beverley Minster Shop Limited profit of £20,626 was donated to Beverley Minster. 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 2024 15. Stock 2024 2023 Stocks 3,212 3,444 16. Debtors 2024 2023 Trade debtors Prepayments Accrued income VAT recoverable Other debtors 25,963 1,075 20,454 1,026 8,824 32,228 68,090 3,322 17,186 41,988 17. Creditors: amounts falling due within one year 2024 2023 Trade Creditors Accruals Deferred income Social security and taxes Other creditors Agency collections 10.122 49,537 13,025 (1,447) 22,253 6,968 100,458 9,632 28,480 300 2,179 3,720 7,713 52,024 2024 2023 Deferred income at 1 January Resources deferred in the period Amounts released from previous periods Deferred income at 31 December 300 13,025 {300} 13,025 200 300 1200) 300 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 2024 18. 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.. 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 balance sects'on known as Pension Builder 2014. Pension Builder Scheme Both sections of the Pension Builder Scheme are classed as defined benefft 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 retums and other factors. The account, plus any bonuses declared is payable, unreduced, from age 65. There is no sulTrdivision of assets belween employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi*mployer 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 {2024: £6,107, 2023.. £3,985). 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 2022. For the Pension Builder Classic section, the valuation revealed a surplus of £34.8m on the ongoing assumptions used. At the most recent annual review effective 1 January 2025, the Board chose to grant a discretionary bonus of 6.7. to both pensions not yet in payment and pensions in payment in respect of seNice prior to April 1997., and a bonus on pensions in payment in respect of post April 2006 service so that the pension increase was 2.70h (where usually it would be calculated based on inflation up to 2.50/0). This followed improvements in the funding posits'on over 2024. There is no requirement for deficit payments at the current time. The next valuation is due as at 31 December 2025. For the Pension Builder 2014 section, the valuation revealed a surplus of £8.5m 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 rf another employer fails, Beverley Minster PCC could become responsible for paying a share of the failed employerfs 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 2024 19. Commitments," Operating leases In July 2024 the Minster entered into a lease agreement with Konica Minolta for the lease of a printerlcopier. The lease will run for 5 years. The total value of future minimum lease payments was as follows: Expiry date: 2024 2023 Under 1 year In to five years Total 1,508 5,278 6,786 20. Funds Balance at 1 January 2024 Income Expenditure Transfers Other recognised gainsl(losses) Revaluation Balance at 31 December 2024 For the year to 31 December 2024 Unrestricted funds General Designated Unrestricted funds Restricted funds Endowment funds 953,309 403,734 1,357,043 274.078 602.389 555.094 (602.178) 78,958 90 (602,178) 78,868 (76,314) 178.868) 5,119 990,302 403,644 1,393,946 190,791 609,056 555,094 71.895 1.228 5,119 5,439 Total fvnds 2,233,510 628,217 678,492 10,558 2,193,793 Balance at 1 January 2023 Income Expenditure Transfers Other Balance at recognised 31 gainsl(losses) December Revaluation 2023 For the year to 31 December 2023 Unrestricted funds General Designated Unrestricted ndS Restricted funds Endowment funds 893,030 403,079 1,296,109 260,908 597,981 538.054 90 538.144 53.798 1,402 (482.771) 583 565 1,148 {1,148) 4,413 953,309 403,734 1,357,043 274,078 602,389 (482.771) (39,480) 4,413 3,006 Total funds 2,154,998 593,344 522,251 7,419 2,233,510 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 2024 Funds {continuedl Balance at 1 January 2024 Income Expenditure Transfers Other recognised gainslllosses) Irevaluations Balance at 31 December 2024 For the year to 31 December 2024 Unrestricted fvnds General St Peter's General fund St. Leonard's General fund Minster General fund Tickton LEP General fund 80.716 36,463 831,015 5,115 953.309 19,133 27,050 490,549 18,362 555.094 {14.552) (23,198) {533,888) 30,540 {602,178) 90 85,387 40,315 798,494 66,106 990,302 5.699 73,169 78.958 5,119 5,119 Designated Assistant Director of Music Minster Development Fund St Peters Garden Project 565 403.079 90 403.734 565 403,079 90 90 403,644 Total unrestricted funds 1.357.043 555.094 602,178 78,868 5,119 1,393,946 Restricted Funds Dorcas Fund Community Connections Project Minster Bells Fund Alpha Course John Cooper Melling Fund Organ Fund Tickton Development Fund Volunteer & Hospitality Fund Youth and Children Fund Music & Choir Fund Lighting Project Fund Choral Foundation Gardeners Fund Tickton (Naylor Trust Inv) 787 11,590 787 13,756 14,864 {12,698} 771 34,988 5,100 80 330 {35,759) (2.649) 2.451 3,931 149,332 3,851 156.696 73,169 15,697 (7.694) (73,169) (482) 15,215 5,699 251 4,815 5,325 443 (5,699) 251 (4,815) {12.217> 11.178 4.286 443 339 339 Total restricted funds 274.078 71,895 {76.314> (78,8681 190,791 Endowment Funds Total Endowment funds 602,389 1,228 5,439 609,056 Total Funds 2.233.510 628.217 678,492 10,558 2.193,793 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 2024 Funds {continued) Balance at 1 January 2023 Income Expenditure Transfers Other recognised gainslllosses) Irevaluations Balance at 31 December 2023 For the year to 31 December 2023 Unrestricted funds General St Peter's General fvnd St. 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 {22,280) {10,207) (434,783) 15,501 482,771 (200) 7,675 (6,682) 210 583 80,716 36,463 831,015 5,115 953,309 4,413 4,413 Designated Assistant Director of Music Minster Development Fund St Peters Garden Project 565 565 403,079 90 403,734 403,079 90 90 403,079 565 Total unrestricted funds 1.296,109 538.144 482,771 1,148 4,413 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 Assistant Director of Music Choral Foundation Tickton communty Tickton (Naylor Trust Inv) 851 40 20,035 (104) (8,445) 787 11,590 11,780 {11,009) 771 2.175 (2.175) 3,851 2,244 3,851 156,696 73,169 15,697 166,872 79.027 (6,885) (2.929) {303) (5,535) (2,929) 16,000 5,783 (5,783) {565) 565 10,918 500 10,065 (9,805) 11,178 {500) 339 339 Total restricted funds 260,908 53,798 {39,480) (1,148) 274,078 Endowment Funds Total Endowment funds 597.981 1,402 602 389 Total Funds 2.154,998 593.344 522,251 7,419 2,233,510 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 2024 Funds {continued) For the year to 31 December 2024 Balance at 1 January 2024 Income Expenditure Transfers Other Balance at recognised 31 gainsl(losses} December 2024 Endowment funds Investment Endowment Music Endowment Property Endowment Total endowment funds 70,069 22,320 510,000 602,389 333 106 5,000 5,439 70,402 23,654 515,000 609,056 1,228 1.228 For the year to 31 December 2023 Balance at 1 January 2023 Income Expenditure Transfers Other recognised gainslllosses) Balance at 31 December 2023 Endowment funds Investment Endowment Music Endowment Property Endowment Total endowment funds 65,315 22,666 510,000 597,981 4,754 (1,748) 70,069 22,320 510,000 602,389 1,402 1,402 3,006 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: 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, its communty 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 to provide funding. This fund holds the contributions received. less invoices paid, to date. John Cooper Melling Fund= In previous years this was reported as an Independent Trust. During 2023, following discussions with the Melling family. the balance was transferred to the PCC account as a restricted fund, to be administered by the Incumbent and Youth Minister. It is still to be used for Children's and Youth Ministry projects at Beverley Minster that fall outside the regular expendtture and salary covered by other Youth and Children Funds held wthin the PCC accounts. Organ Fund." A fund established to maintain the Minsterfs organ, which requires regular tuning and a major refurbishment every 25-30 years. Volunteer and Hospitality Fund= This was set up to manage a restricted donation received in 2022. Funds are available to ensure that the invaluable work of our volunteer5 is recognised and so that hospitality can be provided at specified significant events. The restnction includes conditions as to the amount that can be spent each year. 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 2024 Choral Foundation.. A fund set up to allow choristers at the Minster to access instrumentsl lessons irrespective of their financial circumstances. Following support from the Friends of Bevedey Minster, an initial grant was received from the Deflog Foundation in 2022, with further funding from them in 2023 and 2024. 21. Analysis of net assets by fund As at 31 December 2024 Tangible fixed assets Investments Net current assets Lon term liabilities Unrestricted Restricted Endowment Total 882,210 515,000 1,397,210 25,000 94,056 420,513 486,736 376,070 301,455 (110,664) 1.393,946 190,791 609,056 2,193.793 As at 31 December 2023 Tangible fixed assets Investments Net 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 (95.428) 408,664 1.357,043 274.078 602,389 2,233,510 22. Connected Per30ns - Members of the PCC During 2024 the clergy received the following= 2024 2023 Accommodation costs 4,319 4,319 2,843 2,843 There were no other related paty transactions in the year. 23. 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 24. 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 10 under the heading Independent Trusts. 25. Property Insurances All our properties are insured with Ecclesiastical Insurance. viith policies covering the following= Minster, Parish Hall. Peter Harrison Room Minster boilers. lrfiing equipment, wiring Parish Centre 23 Outer Trinities St. Peter's Woodmansey St. Leonard's Molescroft The Church in Tickton LEP 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 2024 26. 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 Minsteff 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 PCC'S aim to make payments as soon as possible, allhough in the case of some funeral collections the family's instructions may not be immediately available. The balances on these accounts are shown below: 2024 2023 Collections for others Friends of Beverley Minster Funeral Collections 3,594 147 3,227 6,968 6,388 778 547 7,713 27. Accounting For Financial Interaction with The Beverfey Minster Old Fund There are a number of agreed financial aangeMentS between the PCC and the Beverley Minster Old Fund. These relate to the income from and cost of running 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 2024 28. Net Cash (Used in) Operating Activities 2024 2023 Net movements in funds Lossesl(gains} on fixed asset investments Gain on revaluation of tangible fixed assets Income from investments Depreciation Other adjustments {InGreaselldecrease in stocks {Increaselldecrease in debtors Increaselldecrease) in creditors Net Cash provided byl{used in) Operating Activibes (39,717) (5.558} (5,0001 (28,094) 24,289 1,284 232 (26,102) 48,435 30,231 78,512 17.4191 (24,324) 22,710 386 91 19,603 12,454 77,105 29. SOFA For the Year ended 31 December 2023 Unrestricted Restricted Endowment funds funds funds Total funds 2023 5t Income and Endowments from: Donations and legacies Charitable activities Other trading activities Investment income Other income Total income 304.855 51.039 355,894 71,440 139,051 22.798 71,440 141,686 24,324 2,635 124 1.402 538,144 53,798 1,402 593,344 Expenditure on: Raising funds Charitable activities Totsl expenditure (50,584) 432,187 (482.771) {18,294} 21,186 (39.4801 (68,878) 453,373 (522.251 } Net (expenditure) before transfers Transfers beeen funds 55.373 14.318 1.402 71,093 1.148 (1.148) Other recognised gainslllosses) Gainllloss} on revaluation of investments Gainllloss} on sale of investments Net movement in funds Total funds brought fotward Totsl funds carried forward 4.413 3,300 7,713 (294) (294) 60,934 13,170 4,408 78,512 1.296.109 260.908 597,981 2,154,998 1,357,043 274,078 602,389 2,233,510 35