# **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
**REPORT AND FINANCIAL STATEMENTS For the year ended 31 December 2023**
**Charity Number 1133837**
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
For the year ended 31 December 2023
|**Contents**|**Page**||
|---|---|---|
|Trustees annual report|1 to|10|
|Independent examiners report||11|
|Statement of Financial Activities (including||12|
|income and expenditure account)|||
|Balance sheet||13|
|Notes to the financial statements|14 to|23|
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
The trustees are pleased to present their annual report together with the financial statements of the charity for the period ended 31 December 2023. The financial statements comply with the Charities Act 2022, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019).
## **1. Objectives and Activities**
St Nicholas Parochial Church Council (PCC) has the responsibility of cooperating with the incumbent – the Reverend Paul Baker was appointed in October 2022 - in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.
The PCC is committed to enabling as many people as possible to worship at our church and to become part of our parish community at St. Nicholas. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve those who live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.
When planning our activities for the year, we have considered the Commission’s guidance on public benefit and, in particular, the supplementary guidance on charities for the advancement of religion.
In particular, we try to enable ordinary people to live out their faith as part of our parish community
through:
- Worship and prayer; learning about the Gospel; and developing their knowledge and trust in Jesus.
- Provision of pastoral care for people living in the parish.
- Missionary and outreach work.
To facilitate this work, it is important that we maintain the fabric of the Church of St. Nicholas and our church hall and annex.
## **2. Achievements and Performance**
2023 was a year of growth, with Covid restrictions on indoor gatherings, social and outreach activities easing. As anticipated in last year’s report, we have been conscious that for many elderly parishioners, especially those with health issues, the past years have been an extended period of transition during which we needed to continue to support them. Parishioners have returned at their own safe pace, many continuing to join in Sunday communion by Zoom, which remains important for many during the postpandemic times.
We are grateful for the support of many individuals for making the church community a constant focus of support during these times.
Three members of the PCC sit on the deanery synod. This provides the PCC with an important link between the parish and the wider structures of the church.
The church is a member of Churches Together in Gosforth and supports joint activities when these take place.
## **3. Planning for the future**
We also look forward to Father Paul Baker getting to know our parish and sharing his ministry, including further growth in the number of weddings and baptisms as the restrictions on the number of guests able to attend these milestone services have been lifted. We are also expanding the frequency of social events, reprising those, which were popular in previous years.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
**TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
**4. Reference and administrative details of the charity, its trustees and advisors**
|Charity Name|The Parochial Church Council of the||
|---|---|---|
||Ecclesiastical Parish of Gosforth St Nicholas||
|Registered Charity|||
|Number|1133837||
|Operational address|23 Ilford Road||
||Newcastle upon Tyne||
||NE2 3NX||
|Trustees|K Wake – elected 2022||
||D Hunter – elected 2019|Churchwarden|
||B Coulson – elected 2022|Churchwarden|
||S Ritchie – elected 2022|Churchwarden|
||K M Proudfoot – elected 2020|Churchwarden/Treasurer|
||H Harrison – elected 2018|Safeguarding officer|
||M Allan – elected 2022|Deanery Synod rep|
||B Bagnall – co-opted|PCC Minute secretary|
||Rev Paul Baker -ex-officio|Incumbent, Chair|
||O Black – elected 2018|Reader|
||G P Barnard – elected 2023||
||Rev Ruth Stradling – ex-officio|Assistant Curate|
||R Black – ex-officio|Reader Emeritus|
||D Oliver – elected 2018||
||C Pacitti|Reader|
||F Haigh – elected 2023||
||L Robertson – co-opted|Electoral Roll Officer|
||S McLaughlin – elected 2023||
||C T Tait – elected 2020||
||R Tait – elected 2021||
||A J Thirlaway – elected 2022||
||E Vickers – ex-officio||
||D Young – elected 2023|Lay Chair, Churchwarden|
|Independent Examiner|Douglas Maltman FMAAT||
||Connected Voice Business Services||
||One Strawberry Lane||
||Newcastle upon Tyne||
||NE1 4BX||
|Bankers|Barclays||
|Investments|Brewin Dolphin||
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
**TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
## **5. Structure, Governance and Management**
## Governing documents
The Parochial Church Council of the Ecclesiastical Parish of Gosforth St Nicholas is a registered charity, number 1133837, registered 28 January 2010.
## Appointment of Trustees
Trustees are appointed by election at the Annual Parochial Church Meeting they can also be co-opted during the year to fill a casual vacancy or skills gap.
## Risk management
The charity is aware of the Commission's guidance on risk management including the development of a policy, identifying risks, assessing and evaluating the action(s) to be taken, review, monitor and assess periodically. Trustees work with the incumbent to ensure the continuing monitoring of risks.
## **6. Financial Review**
The Parochial Church Council of the Ecclesiastical Parish of Gosforth St Nicholas is primarily funded by donations. The total income for the year was £144,558 (2022: £124,253). This income is allocated across respective funds on the Statement of Financial Activities in accordance with the Statement of Recommended Practice.
The Statement of Financial Activities for the year ended 31 December 2023, shows a deficit across all funds of £15,713 (2022: surplus £117,076).
The Balance Sheet at 31 December 2023 shows total funds carried forward of £840,452 (2022: £856,165) of which there are £791,850 unrestricted funds (2022: £810,410) and £48,602 endowment funds (2022: £45,755).
## Reserves policy
The trustees have reviewed the charity’s reserves policy. It is the policy of The Parochial Church Council of the Ecclesiastical Parish of Gosforth St Nicholas to retain liquid funds in current account and on shortterm deposit adequate to meet 3 months of financial activity. Longer-term investments held can be realised safely without undue cost within that time frame.
## **7. Public Benefit Statement**
The Trustees have referred to the Charity Commission's guidance on public benefit when reviewing the charity's objectives and planning its future activities. The trustees have also reviewed the charitable purposes of The Religious Society of Friends (Quakers) in Britain Northumbria Area Meeting, and the external environment, to make sure the Charity is still relevant and needed. This annual report will aim to demonstrate the link between our charitable activity and how this benefits our service users.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
**TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
## **8. Related Party**
The vicar and churchwardens made the following donations to church funds in 2023 and 2022:
|Name of the
trustee or
related party
Relationship
to charity
Description of the transaction
Rev P Baker
Vicar
Unrestricted donation
D Young
Trustee
Unrestricted donation
D Hunter
Trustee
Unrestricted donation
K Proudfoot
Trustee
Unrestricted donation
B Coulson
Trustee
Unrestricted donation
S Ritchie
Trustee
Unrestricted donation|**2023**
**£**
730
540
250
1,204
750
3,310
**6,784**|2022
£|
|---|---|---|
|||200
540
660
1,083
600
2,400
5,483|
## **9. Insurance**
The charity’s insurance policy does not cover and provide trustee indemnity cover.
## **10. Report from the incumbent**
Rev Paul Baker was installed as incumbent in October 2022.
The five year Mission Action Plan includes six key areas which are: - high standard of worship; service to the community, including use of the church hall and churchyard; safeguarding for a safer church; growing the church family through pastoral work, bible study, refreshment and connecting with the social calendar through following the liturgical year; generous giving; and care for the environment.
The work of the parish relies on many volunteers giving their time and expertise, we would particularly wish to thank Hilary Harrison for her work on safeguarding, which has led to us achieving level 2 and starting the highest level 3 and setting a standard for other churches. In future volunteers in any role will have to agree and sign a template produced by the diocese.
The use of Zoom for services continued throughout the year as parishioners gradually felt safe to return to indoor gatherings. Some “Zoomers” are physically unable to get to church, some join from vacation locations. We intend to continue using Zoom, IT equipment permitting.
The finances of the church are a concern, deficit accounts, which began during Covid lockdown and have continued in each of the last three years, are unsustainable. Generous giving remains an issue to be resolved and is a focus when considering our finances. The Deanery approach to this aspect of discipleship may help us.
## **11. Report on the PCC**
The Parochial Church Council (PCC) is a charity which works in co-operation with the incumbent to promote the whole mission of the church, evangelistic, pastoral, social and ecumenical which in the parish. In the absence of an incumbent until October 2022, the PCC, under its elected secretary, had authority to deal with the financial affairs of the church including the collection and administration of all money raised.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
It is the duty of the incumbent and the PCC to consult together on matter of general concern and importance to the parish.
The PCC is also responsible for the care and maintenance of the churchyard in co-operation with Newcastle City Council.
The PCC has met five times. The average attendance was seventeen.
The PCC has conducted the business of managing the church’s finances and the maintenance of the church and church hall. These subjects are discussed in separate reports.
## **12. PCC Members**
The members of the PCC are listed in note 4 above
## **13. Electoral Roll Report**
The numbers entered on the church Electoral roll at 8th April 2022 is 222, of which 116 are nonresident in the parish.
Leslie Robertson, Electoral roll officer
## **14. Churchwardens’ Fabric Report**
In the main, the fabric of the church has been satisfactory. Apart from general maintenance, there has been very little work required to be carried out on the main building. Mr. Tim Bailey, the church architect, has carried out the majority of the quinquennial report and will advise the Church Wardens on the level work to be carried out later in 2023.
As part of the Health and Safety programme the annual fire extinguisher, testing has been carried out in both the church and church hall. The annual test of the lighting conductor on the church tower has also been carried out.
The roof continues to be the main concern with a small amount of water ingress in both the North and South areas of the roof. Regent Roofing assisted by members of the church carried out an inspection of the roof and, as a result of this inspection, the gutters were cleared of leaves and various loose slates replaced. In addition, an area of the pointing and lead work on the North roof has been renewed.
The Church sound system, which was beyond upgrade, was approved for replacement with a complete new system to be installed in January 2023. The Wardens would like to thank everyone who either helped to fundraise or donated to achieve this.
The church hall booking are made up of regular groups and we are continuing to maintain a high level of cleanliness as part of post-COVID measures. We no longer hire out the hall for children’s parties and one-off events apart from church use.
The church hall is in use most days in a week with community groups that include dance, keep fit and music teaching for both adults and children.
The church uses the hall to run craft groups, a wine club and as a “warm space” (see note 22 below). There are various social events, which include parish meals (also at external venues), quiz nights and the beer festival. A weekend of activities covering the King’s coronation are being planned.
The existing florescent light tubes in the annex have been replaced with energy efficient LED tubes, said to use 62% lest energy and to have a life span of 25 years. This work has been carried out at no cost to the church thanks to a generous donation from a donor who is a non-church person.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
**TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
## **15. Deanery Synod Report**
To increase the church’s Deanery representation, on the appointment Father Paul as our Vicar, he together with Ella Vickers, Molly Allen and David Young were appointed by the PCC as Deanery Synod representatives.
These appointments will be confirmed at the 2024 APGM.
A meeting of the Synod at St Thomas’ church discussed the refurbishment work carried out there and the role it will take within the Diocese the meeting also split into groups to discuss what resources the various churches in the Deanery have and how they can work closer together for mutual benefit.
## **16. Junior Church Report**
Over the past 12 months, Sunday School has met in the church hall at the beginning of the service. Each week there are between 6 and 14 children attending, around half of the children are accompanied by an adult. Any children unable to use the toilet alone need to be accompanied by an adult. To ensure safeguarding, we now lock all doors to the hall and annexe during Sunday School.
Any latecomers need to be accompanied by a warden from church or regular attending parents can message the Sunday School Parents WhatsApp group to be let in at the hall door on Wardle Street.
We have moved away from using Roots on the Web as a resource as we no longer strictly follow the Gospel. Instead, we have run with themes through each term or half term, which helps to cement the children’s understanding. We now pay for Twinkl, an online educational resource, which provides content about Christianity and the Bible, the colouring sheets we use at the back of church, and material we can use at events, such as the upcoming coronation.
In Sunday School during the last year, we have covered Pentecost, Parables, a New Beginning, different roles people do within the church, and the Easter Story. Sunday School aim to be back in church in time to share communion. The children enjoy gathering at the little table at the back of the North Aisle to do colouring and jigsaws. After the notices, the children share what they have been learning about in Sunday School with the congregation. At Christmas, they put on a well-received production of the Nativity in the church hall after the post-Eucharist tea and coffee.
The children have started to do “Sunday School Takeover” at tea and coffee once every half term, where the children bring biscuits for the congregation and they help with the clearing and washing up. On these days, the tea and coffee takings are allocated to Sunday School.
Sunday School donations, an Amazon wish list, and the Takeover funds have helped us to cover Sunday School craft supplies as well as funding activities throughout the year. These include a craft table at the Jubilee weekend, a Sunday School Barbecue, a Christmas Party, and an Easter Egg Hunt. All were well attended.
## **17. Eco Church Report**
Ella Vickers continues as Parish Eco Champion, Central Deanery Eco Champion and is now also a member of the Diocesan Environmental Working Group
a) A Deanery Celtic Forest Church Service was held at St Nicholas in September. Over 105 people attended our service from across the Diocese and beyond. Due to cold and wet weather, we experienced being grounded in nature indoors - through adapting an eco-theological mindset by sitting on the wood of the pews - and enjoyed the use of the grand piano. Attendees heard positive eco stories from a Quaker, founder of the Big River Bakery, parish eco champions and Revd Mark Nash-Williams (the Bishop of Newcastle’s Environmental Advisor). A folk band was formed (providing a Celtic appreciation of eco theology through the arts), two pupils from Gosforth Academy provided music from the Iona Community (‘Oh the Light of the World’) and the Head of Religious Studies at Gosforth Academy led the blessing.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
This event not only promoted environmental action (through the giving of TreeBombs, a quirky eco tip list and the sharing of verbal experiences) but also deanery and diocesan integration, parish outreach (particularly in welcoming around 15 people under the age of 20) and an example of ‘Community and Global Engagement’ (an element of the Eco Church Award). We thank all those who helped and attended what was an uplifting post pandemic event.
b) A positive environmental change this year has been the increase in recycling in the parish. This evolved from makeshift cardboard boxes to sturdy plastic containers (for safety and tidiness) enabling the recycling of: batteries; contact lens casing; printer ink cartridges; tablet packaging; and soft plastics. The response to this mission has been astounding, particularly as parishioners have developed a rhythm of dropping off items before services. The PCC much appreciates the shared task of disposing the items at the relevant recycling locations.
c) Eco Theology At Diocesan Synod (Nov 2022) the ‘Praying for the Earth’ book was distributed to each parish. The book is located in the Lady Chapel for easy accessibility and to enable incorporation of environmental concerns into intercessions. EV has committed to producing a monthly pew sheet ‘Eco Thought’ to provide regular environmental incorporation into parish life. It is hoped that parishioners act upon such thoughts and ponder on these over each month.
d) We have progressed with bat explorations in the churchyard, which revealed that: some of the older trees may have bat roosts within them and the churchyard evidences healthy bird life including the sighting of a Jay, which is a good indicator, as Jays don’t often appear in semi-urban areas. Consideration is being given to the installation of three bat boxes and for the completion of further surveys.
## Outcome/Vision
The PCC will need to approve our Parish Environmental Policy. It is good to note that in seeking the Eco Church Silver Award, in the 5 Eco Church areas we are currently scoring:
1. Worship and Teaching (Gold),
2. Buildings (Bronze),
3. Land (Bronze),
4. Community and Global Engagement (Bronze)
5. Lifestyle (Bronze).
For the future, the pivotal issue of exploring our options for renewable energy needs to develop (particularly during both an energy and cost of living crisis). This is achievable through greater incorporation of the matter into PCC meetings, conferring with other parishes who have already switched to renewables, accessing the great plentitude of church funding schemes, and ensuring EV maintains her role on the Diocesan Environmental Working Group.
## **18. Health and Safety Report**
Churches are covered by the statutory legislation in the Health and Safety at Work Act 1974 and are classified as being of low risk. Under the H&S Act where a church employs less than five people a written Health and Safety plan is not required.
The church Health and Safety policy is implemented using information available from the Ecclesiastical Insurance company as posted on the Diocese of Newcastle website.
Health and Safety is an item on each PCC agenda. The Health and Safety policy is reviewed annually using the current documentation on the Church of England website.
## **19. Safeguarding Policy Report**
This report is focussed on areas in the Safeguarding Action Plan produced by “Safeguarding Dashboards” and monitored by the Parish Dashboards Team, Newcastle Diocese and based on updated reports presented to the PCC.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
The PCC reaffirmed its agreement to have “due regard” to the House of Bishops’ guidance in relation to safeguarding in October 2022. This includes both the handbook (which includes procedures, roles, training, reporting and church activities) and the policy statement.
We now have a team of people who work as part of the safeguarding responsibilities. This team meets regularly to monitor and ensure our safeguarding policy and procedures are in line with the House of Bishops’ guidance.
We are at level 3 on the data dashboard.
All new PCC members require a DBS check and, along with those members requiring DBS renewal, are either completed or in progress. The Safeguarding team continue to maintain these checks – a key requirement of anyone in a role requiring work with children and vulnerable adults be that paid or unpaid work.
All PCC members and others in roles of responsibility must complete compulsory training – basic safeguarding, foundation safeguarding and awareness of domestic abuse. Nearly all PCC members attended a domestic abuse training held in the church hall annex - the others are completing this online.
We have had three people in leadership roles who have completed their leadership training and a further three booked to complete shortly.
The team continue to develop role descriptions and policy & procedure tailored for roles within Gosforth Parish Church. We plan to run an open session so all are aware of our responsibilities together as Christians to provide a safe and secure environment for children and vulnerable adults in church.
## **20. Church Flowers Report**
The flower team is back to the weekly flower arranging rota, which works well with all of us coming together for special occasions.
We had very good displays of flowers for Easter, Harvest Festival, Christmas and for the weekly services, which was much admired. We had extra helpers for Christmas flowers, which was very welcome.
On Mothering Sunday, we had bunches of daffodils for everyone – it’s good to be getting back to normal. Easter flowers looked lovely with the cross outside adorned with a beautiful display of daffodils and the Easter Garden within the church and grounds make it a special time.
The flowers are very much a collective effort, and we enjoy our mornings of chat and coffee alongside the flower arranging. Carol Hunt would like to thank all who those who give for so generously for flowers during the year and to the flower team for all their support.
## **21. Music Report**
Judy Pratt, Phil Mills and Richard Tait continued to lead the music team after being asked to do this by Fr Paul upon his arrival in the Parish last year. Phil has continued to accompany the choir and congregation to provide an exceptionally high standard of organ music. These arrangements will continue for the foreseeable future.
It will be recalled that in March 2020, as a consequence of the pandemic, choral music was suspended during services and our choir leaders left, along with many who had been singing in our choir.
Music eventually resumed in churches, including at St Nicholas with depleted resources. Those singing in the re-formed choir have a wide range of experience and ability, which so far has rather limited our repertoire, but we are working on this. There is no doubt, however, that the choir with its new members remains committed to providing a high standard of choral music. The hope is that membership and level of experience will continue to increase thus widening the repertoire and opening up opportunities for the singing of anthems and other liturgical music.
For ordinary Sunday services we can rely on up to 15 singers when everyone is available but we realise that family, work and holiday commitments must come before singing duties.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
At Christmas and during university vacations the choir is supplemented by additional members. The service of Nine Lessons and Carols was particularly notable for the size of the augmented choir and quality of the singing.
On the first Sunday evening of the month, the choir joins the congregation in the Hail Gladdening Light service. The musical accompaniment is provided by Judy on the grand piano. This service with its quiet and contemplative content is a wonderful end to a busy week or an appropriate preparation for the week ahead.
We are always looking for new singers especially sopranos and basses.
The choir has also sung at several weddings and funerals during the year and would wish to continue to do so. At Christmas the choir sang at the Three Mile Inn and the Job Bulman (Wetherspoons), occasions, which have now become firm fixtures attracting large and appreciative audiences.
Phil continues to provide organ music of an exceptionally high standard taking full advantage of the splendid organ of which we are justly proud. Services are preceded and closed with voluntaries coving a wide and varied repertoire and are much appreciated by the congregation many of whom stay behind after the service for what is in effect a mini organ recital. When he is not available to play Phil arranges for substitutes - Marc Bryant and Peter Locke - and we are very grateful for their contribution.
The music team is very grateful to the Clergy and congregation for all their support and encouragement.
## **22. Other activities**
A Church Craft Club meet in the church hall from 1.45 to 3.45 on Tuesdays promoted as “more about fellowship than creative ability”. All are welcome.
The Wine club meet once a month on a Friday in autumn through to spring to sample 6 red or 6 white accompanied by some food with a theme set for each meeting. The food is donated – special thanks to Charlotte’s Butchery for the meat – an entrance charge ensures these events are self-funding. The wines are introduced in a short presentation by Stuart Baker; he and Anne are the organisers of this club, ably supported by the talented catering team.
A new venture, still in the trial stage, was introduced due to the present financial crisis to provide a warm space with soup and a hot drink.
The focus is on offering comfort and companionship to everyone, so all are welcome - church and nonchurch attendees alike. The response to the project has been limited which could be due to the better weather arriving just as the project was introduced. The idea may resume in the autumn of 2023. The members of the congregation who form the team is limited and any offer of help would be very well appreciated.
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**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **TRUSTEES ANNUAL REPORT For year ended 31 December 2023**
## **23. Statement of Trustee Responsibilities**
The charity trustees are responsible for preparing a trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The charity trustees are required to prepare financial statements for each year, which give a true and fair view of the state of affairs of the charitable company and of incoming resources and application of resources. In preparing financial statements, the trustees are required to:
- Select suitable accounting policies and 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;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity. They 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.
Approved by the Trustees on 29.05.2024 and signed on their behalf by:
K M Proudfoot
Treasurer
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES**
For the year ended 31 December 2023
I report on the financial statements of The Parochial Church Council of the Ecclesiastical Parish of Gosforth St Nicholas for the year ended 31 December 2023, which are set out on pages 12 to 23.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 ("the Charities Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- h examine the accounts under section 145 of the Charities Act,
- h to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and
- h to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no material matters have come to my attention which give me cause to believe that in, any material respect:
- h the accounting records were not kept in accordance with section 130 of the Charities Act; or
- h the accounts did not accord with the accounting records; or
- h the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination.
I have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Doug Maltman FMAAT Fellow Member of the Association of Accountancy Technicians Connected Voice Business Services Ltd One Strawberry Lane Newcastle upon Tyne NE1 4BX Date: 30.05.2024
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## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **STATEMENT OF FINANCIAL ACTIVITIES**
For the year ended 31 December 2023
**----- Start of picture text -----**
Unrestricted Restricted Total Total
Funds Funds 2023 2022
£ £ £ £
Income from:
-
Giving, tax relief and investment 6 86,661 86,661 67,230
Income from operating activities 7 9,605 - 9,605 9,708
Fundraising income 8 26,914 - 26,914 24,965
Investment income 9 21,378 - 21,378 22,350
Total income 144,558 - 144,558 124,253
Expenditure on:
Donations 10 2,571 - 2,571 1,387
Activities relating to the work of the 11 136,077 - 136,077 122,980
church
Expenditure to generate funds 12 17,571 - 17,571 10,306
Church management and 13 8,075 - 8,075 9,538
administration
Total expenditure 164,294 - 164,294 144,211
-
Net income/(expenditure) before ( 19,736 ) ( 19,736 ) ( 19,958 )
investment gains/(losses)
Unrealised gains on investment
- - - 170,000
properties
Net gains/(losses) on investments 19 1,176 2,847 4,023 ( 32,966 )
Net movement of funds ( 18,560 ) 2,847 ( 15,713 ) 117,076
Reconciliation of funds
Total funds brought forward 810,410 45,755 856,165 739,089
Total funds carried forward 791,850 48,602 840,452 856,165
Notes
**----- End of picture text -----**
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 14 to 23 form an integral part of these accounts.
12
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **BALANCE SHEET**
**----- Start of picture text -----**
Charity Number 1133837
As at 31 December 2023
Restated
Total Total
2023 2022
£ £ £ £
Fixed assets
Tangible assets 18 517,524 514,797
Investments 19 283,564 281,424
Total fixed assets 801,088 796,221
Current assets
Debtors 20 27,909 39,841
Cash at bank and in hand 21 14,897 22,436
Total current assets 42,806 62,277
Creditors: amounts falling due within
one year 22 ( 3,442 ) ( 2,333 )
Net current assets 39,364 59,944
Total assets less current liabilities 840,452 856,165
Total net assets or liabilities 840,452 856,165
Funds of the charity
Unrestricted funds 436,927 458,940
Designated fund 19,923 16,470
Revaluation surplus 335,000 335,000
Restricted fund 48,602 45,755
Total funds 840,452 856,165
Notes
**----- End of picture text -----**
The notes on pages 14 to 23 form an integral part of these accounts.
These financial statements were approved by the Board on:
29.05.2024
and are signed on its behalf by:
K M Proudfoot Treasurer
13
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## 1 **Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## 2 **Basis of accounting**
## 2.1 **Basis of preparation**
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) – Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2022.
The Parochial Church Council of the Ecclesiastical Parish of Gosforth St Nicholas meets the definition of a public benefit entity under FRS 102.
## 2.2 **Preparation of the accounts on a going concern basis**
The charity reported total unrestricted funds at the year end of £791,850 and has already secured a significant amount of funding for the current year. The trustees are of the view that the immediate future of the charity for the next 12 to 18 months is secure and that on this basis the charity is a going concern.
## 3 **Income**
## 3.1 **Recognition of income**
Income is recognised when the charity has entitlement to the resources, any performance conditions attached to the item(s) of income have been met, it is more likely than not that the resources will be received and the monetary value can be measured with sufficient reliability
## 3.2 **Offsetting**
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by FRS102 SORP or FRS102.
## 3.3 **Grants and donations**
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Income received in advance of the provision of a specified service is deferred until the criteria of income recognition are met.
## 3.4 **Volunteer help**
The value of volunteer help received is not included in the accounts but is described in the trustees' annual report.
14
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## 3.5 **Interest receivable**
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.
## 3.6 **Investment gains and losses**
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## 3.7 **Fund accounting**
General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Funds designated for a particular purpose by the PCC are also unrestricted.
Donations received for particular purposes are designated, unrestricted funds, as is the attendant expenditure.
The accounts include all transactions, assets and liabilities for which the PCC is responsible in law.
## 3.8 **Endowment fund**
Over many years donations have been given to the church with the specific intention to help the clergy in their role within the parish, such funds are classed as "Restricted and Designated". The income generated from the Endowment Fund assets - stocks and shares - is applied to the specific purpose of the fund. In accordance with the practice of many years the income is applied as follows: 25% to the General Fund to meet the requirements of the Newcastle Diocesan Board of Finance, the balance to the incumbent to help meet expenses of the office.
It would be disproportionately expensive to have the endowment fund managed separately to the other investments. £1,400 has been calculated as the appropriate proportion of the income, at present, to go to the expenses of the incumbent. The amount is reviewed annually against the performance of the investments as a whole. This is shown in note 7 Invstment Income from Dividends.
## 4 **Expenditure and liabilities**
## 4.1 **Liability recognition**
Liabilities are recognised when it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
## 4.2 **Charitable activities**
Expenditure on charitable activities includes the costs of grant offerings and other activities undertaken to further the purposes of the charity and their associated support costs.
## 4.3 **Governance and support costs**
Support costs have been allocated between governance cost and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.
## 4.4 **Creditors**
The charity has creditors which are measured at settlement amounts less any trade discounts.
15
**THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## 4.5 **Provisions for liabilities**
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date.
## 5 **Assets**
## 5.1 **Tangible fixed assets for use by the charity**
Individual fixed assets costing £2,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis, the charity does not currently have any tangible fixed assets:
Organ Straight line over 40 years Church houses No depreciation Audio system Straight line over five years
Concecrated and beneficed property of any kind is excluded from the accounts by virtue of s96 (2)(a) of the Charities Act 1993.
Movable church furnishings held by the vicar and Churchwardens on special trust for the PCC, and which require a faculty for disposal, are accounted as inalienable property unless concecrated. They are listed in the church's inventory which can be inspected at any reasonable time.
The Nicholson organ, acquired in 2000, has been capitalised and is being depreciated in the accounts over its currently anticipated useful life of 40 years on a straight line basis.
All expenditure incurred in the year on consecrated or beneficed buildings, individual items under £2,000 or on the repair of movable church furnishings is written off. The audio system, with an original cost of £10,380, is depreciated on a straight line basis over 5 years starting in the year of acquisition.
## 5.2 **Investments**
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments.
Short term deposits include cash held on deposit either with the CBF Church of England Funds or at the bank.
The investment properties are included at valuation, any change in market value over cost is reflected in these accounts.
16
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## **Analysis of income**
|Unrestricted
Designated
Restricted
Funds
Funds
Funds
£
£
£
6
**Giving, tax relief and investment income**
Planned giving & other
52,087
-
-
Collection at services
7,466
-
-
Income tax received and
receivable
17,866
-
-
Donations to flowers and
candles
548
970
-
Donations & Legacies
1,693
6,031
-
79,660
7,001
-
7
**Income from operating activities: to further the objectives of the PCC**
Parish Mission and events
3,745
-
-
Theatre visits
608
1,436
-
Fees
1,789
2,027
-
6,142
3,463
-
8
**Income from operating activities: to generate funds**
Church Hall Lettings & Grants
8,606
5,865
-
Beer festival
12,349
-
-
Grants and fundraising
activities
-
-
-
Sundry income (Easy
Fundraising)
94
-
-
21,049
5,865
-
9
**Income from investments**
Rental income from investment
properties
11,251
3,679
-
Investment income - Dividends
3,795
1,400
-
Investment income - Interest
received
436
817
-
15,482
5,896
-|**Total**
**2023**
**£**
**52,087**
**7,466**
**17,866**
**1,518**
**7,724**
**86,661**
**3,745**
**2,044**
**3,816**
**9,605**
**14,471**
**12,349**
**-**
**94**
**26,914**
**14,930**
**5,195**
**1,253**
**21,378**|Total
2022
£
51,914
-
12,000
225
3,091
67,230
825
1,152
7,731
9,708
17,758
5,954
1,137
116
24,965
15,420
5,947
983
22,350|
|---|---|---|
Income was £144,558 (2022: £124,253) of which £144,558 was unrestricted or designated (2022: £124,253) and £nil was restricted (2022: £nil).
17
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## **Analysis of expenditure on charitable activities**
|Unrestricted
Funds
£
10 **Donations**
Charitable donations
933
933
11 **Activities relating to the work of the church**
Parish Share
86,294
Diocesan fees
-
Clergy & worship expenses
10,079
Flowers & candles
-
Utilities, insurance & repairs
12,023
Junior church
1,973
Organ, organists and choir
5,411
Mission, outreach & events
5,680
Theatre visits
-
Depreciation
7,653
129,113
12 **Expenditure to generate funds**
Parish Hall
-
Beer festival
11,593
11,593
13 **Church management and administration**
Investment property repairs and
other costs
-
Investment portfolio manager's
fees
1,861
Professional fees
1,941
Printing & stationery - copier
1,184
Bank charges, less rebate
( 1,161 )
Safeguarding
38
Gifts & sundry expenses
20
3,883|Designated
Funds
£
1,638
1,638
-
2,027
1,665
970
859
-
-
7
1,436
-
6,964
5,978
-
5,978
3,679
438
-
75
-
-
-
4,192|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**2023**
**£**
**2,571**
**2,571**
**86,294**
**2,027**
**11,744**
**970**
**12,882**
**1,973**
**5,411**
**5,687**
**1,436**
**7,653**
**136,077**
**5,978**
**11,593**
**17,571**
**3,679**
**2,299**
**1,941**
**1,259**
**( 1,161 )**
**38**
**20**
**8,075**|Total
2022
£
1,387
1,387
82,545
2,199
8,244
1,030
14,607
101
6,854
1,490
333
5,577
122,980
5,086
5,220
10,306
3,575
2,407
1,050
2,226
269
-
11
9,538|
|---|---|---|---|---|
Expenditure on charitable activities was £164,294 (2022: £144,211) of which £164,294 was unrestricted or designated (2022: £144,211) and £0 was restricted (2022: £nil).
18
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## 14 **Fees for examination of the accounts**
|Independent examiner's fees for reporting on the accounts|**2023**
**£**
**972**
**972**|2022
£
972
972|
|---|---|---|
There were no other fees paid to the examiner (2022: £nil).
## 15 **Analysis of staff costs and the cost of key management personnel**
The charity currently does not employ any paid staff.
No employee received remuneration above £60,000 (2022: nil)
The key management personnel of the charity, comprise the Trustees. The total employee benefits of the key management personnel of the charity were £nil.
## 16 **Transactions with trustees**
None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity.
## **Trustees' expenses**
No trustee expenses have been incurred in the year.
## **Transaction(s) with related parties**
The vicar and churchwardens made the following donations to church funds in 2023 and 2022:
|Rev P Baker
Vicar
D Young
Trustee
D Hunter
Trustee
K Proudfoot
Trustee
B Coulson
Trustee
S Ritchie
Trustee
Unrestricted donation
Unrestricted donation
Unrestricted donation
Name of the trustee or related
party
Description of the
transaction
Relationship
to charity
Unrestricted donation
Unrestricted donation
Unrestricted donation|**2023**
**£**
730
540
250
1,204
750
3,310
**6,784**|2022
£
200
540
660
1,083
600
2,400
5,483|
|---|---|---|
## 17 **Corporation Taxation**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives.
19
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
|18 **Tangible fixed assets**
**Cost**
Balance brought forward
Additions
Disposals
**Balance carried forward**
**Depreciation**
Basis
Rate
Balance brought forward
Depreciation charge for year
Disposals
**Balance carried forward**
**Net book value**
**Brought forward**
**Carried forward**
19 **Fixed asset investments**
**Listed Investment**
Carrying (fair) value at the beginning of period
Management & dealing costs
Realised gains & losses for year
Unrealised gains & losses for year
Carrying (fair) value at end of year
**Newcastle Diocesan Social Investments**
Bulcher/McMahon bequest
487 shares
Butcher bequest
836 shares
**Church hall**
Church hall investment account
**TOTAL**|**Audio**
**system**
**£**
-
10,380
-
10,380
SL
20.0%
-
2,076
-
2,076
-
8,304|**Nickolson**
**organ**
**£**
223,068
-
-
223,068
SL
2.5%
128,271
5,577
-
133,848
94,797
89,220
**2023**
**£**
**241,121**
**( 2,299 )**
**287**
**1,164**
**240,273**
**2023**
**£**
**11,009**
**18,898**
**29,907**
**2023**
**£**
**13,384**
**13,384**
**283,564**|**Church**
**Houses**
**£**
420,000
-
-
420,000
SL
0.0%
-
-
-
-
420,000
420,000
2022
£
272,847
( 2,407 )
( 1,522 )
( 27,797 )
241,121
2022
£
10,062
17,273
27,335
2022
£
12,968
12,968
281,424|**Total**
**£**
**643,068**
**10,380**
**-**
**653,448**
**128,271**
**7,653**
**-**
**135,924**
**514,797**
**517,524**|
|---|---|---|---|---|
20
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
|20 **Debtors and prepayments (receivable within 1 year)**
21 **Cash at bank and in hand**
Investment community account
General fund community account
Church hall community account
Church active saver account
22 **Creditors and accruals (payable within 1 year)**
Trade creditors
Rents due from agent
Parish share 2024 (paid 2023)
Fees due from funeral director
Independent examination of accounts
Gift aid claim
Accruals
Dividends receivable|**2023**
**£**
**26,000**
**-**
**706**
**722**
**481**
**27,909**
**2023**
**£**
**-**
**9,443**
**-**
**5,454**
**14,897**
**2023**
**£**
**2,470**
**-**
**972**
**3,442**|2022
£
38,500
970
-
-
371
39,841
2022
£
75
5,823
11,535
5,003
22,436
2022
£
1,361
972
2,333|
|---|---|---|
## 23 **Events after the end of the reporting period**
No events (not requiring adjustment to the accounts) have occurred after the end of the reporting period but before the accounts are authorised which relate to conditions that arose after the end of the reporting period.
21
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## 24 **Analysis of charitable funds**
## **For the year ended 31 December 2023**
|**Unrestricted funds**
General funds
Designated funds
Revaluation surplus|**Fund**
**balances**
**brought**
**forward**
**£**
458,940
16,470
335,000
810,410|**Income**
**resource**
**£**
122,333
22,225
-
144,558|**Resources**
**expended**
**£**
( 145,522 )
( 18,772 )
-
( 164,294 )|**Transfers**
**£**
-
-
-
-|**Gains /**
**(losses)**
**£**
1,176
-
-
1,176|**Fund**
**balances**
**carried**
**forward**
**£**
**436,927**
**19,923**
**335,000**
**791,850**|
|---|---|---|---|---|---|---|
## **For the year ended 31 December 2022**
|**Unrestricted funds**
General funds
Designated funds
Revaluation surplus|**Fund**
**balances**
**brought**
**forward**
**£**
508,138
16,371
165,000
689,509|**Income**
**resource**
**£**
105,967
18,286
-
124,253|**Resources**
**expended**
**£**
( 126,024 )
( 18,187 )
-
( 144,211 )|**Transfers**
**£**
-
-
-
-|**Gains /**
**(losses)**
**£**
( 29,141 )
-
170,000
140,859|**Fund**
**balances**
**carried**
**forward**
**£**
**458,940**
**16,470**
**335,000**
**810,410**|
|---|---|---|---|---|---|---|
## **Purpose of unrestricted funds**
General unrestricted fund Designated funds Revalusation surplus
The 'free reserves' after allowing for designated funds Funds designated for a particular purpose by the PCC Revaluation reserve for the church houses.
Sanderson Young provided a valuation in 2020 for the houses that had been included in the accounts at historical cost: £85,000. The increase of £165,000 to the valuation of £250,000.
## 24 **Analysis of charitable funds** _(continued)_ **For the year ended 31 December 2023**
|**Restricted funds**
Endowment fund|**Fund**
**balances**
**brought**
**forward**
**£**
45,755
45,755|**Income**
**resource**
**£**
-
-|**Resources**
**expended**
**£**
-
-|**Transfers**
**£**
-
-|**Gains /**
**(losses)**
**£**
2,847
2,847|**Fund**
**balances**
**carried**
**forward**
**£**
**48,602**
**48,602**|
|---|---|---|---|---|---|---|
22
## **THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF GOSFORTH ST NICHOLAS**
## **NOTES TO THE FINANCIAL STATEMENTS**
For the year ended 31 December 2023
## **For the year ended 31 December 2022**
|**Restricted funds**
Endowment fund|**Fund**
**balances**
**brought**
**forward**
**£**
49,580
49,580|**Income**
**resource**
**£**
-
-|**Resources**
**expended**
**£**
-
-|**Transfers**
**£**
-
-|**Gains /**
**(losses)**
**£**
( 3,825 )
( 3,825 )|**Fund**
**balances**
**carried**
**forward**
**£**
**45,755**
**45,755**|
|---|---|---|---|---|---|---|
## **Purpose of restricted funds**
Restricted funds represent income resources used for a specific purpose within the charity as identified by the donor
Endowment fund
Over many years donations have been given to the church with the specific intention to help the clergy in their role within the parish, such funds are classed as "Restricted and Designated". The income generated from the Endowment Fund assets - stocks and shares - is applied to the specific purpose of the fund. In accordance with the practice of many years the income is applied as follows: 25% to the General Fund to meet the requirements of the Newcastle Diocesan Board of Finance, the balance to the incumbent to help meet expenses of the office. It would be disproportionately expensive to have the endowment fund managed separately to the other investments.
## 25 **Capital commitments**
As at 31 December 2023, the charity had no capital commitments (2022: £nil).
## 26 **Analysis of net assets between funds**
|Tangible fixed assets
Investments
Current assets
Liabilities
Current assets
Liabilities
Investments
Tangible fixed assets|Unrestricted
Funds
£
517,524
234,962
26,435
( 3,442 )
775,479
Unrestricted
Funds
£
514,797
235,669
45,906
( 2,333 )
794,039|Designated
Funds
£
-
-
16,371
-
16,371
Designated
Funds
£
-
-
16,371
-
16,371|Restricted
Funds
£
-
48,602
-
-
48,602
Restricted
Funds
£
-
45,755
-
-
45,755|**Total**
**2023**
**£**
**517,524**
**283,564**
**42,806**
**( 3,442 )**
**840,452**
**Total**
**2022**
**£**
**514,797**
**281,424**
**62,277**
**( 2,333 )**
**856,165**|
|---|---|---|---|---|
23