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← The Parochial Church Council Of The Ecclesiastical Parish Of Jesmond

2023-12-31-accounts

DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

Charity number: 1134530

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

CONTENTS
Page
Reference and Administrative Details of the Charity, its PCC Members (also 1
recognised as Trustees by the Charity Commission) and Advisers
Trustees' Report 2 - 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 - 19

DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS PCC MEMBERS (ALSO RECOGNISED AS TRUSTEES BY THE CHARITY COMMISSION) AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023

PCC Members (also Rev D R J Holloway (Vicar)1 recognised as Trustees by the Charity Commission) Dr J S Holloway (resigned 14 May 2023)4 Rt Rev J J S Pryke (Curate and Chair)1 Mr W A Coulson2 Dr W S Tufton2 Mrs H L Caisley (appointed 14 May 2023)4 Mr M R Whitehall (appointed 14 May 2023)4 Rev J J Redfearn (co-opted) (resigned 14 May 2023)1 Mrs J V Parker (resigned 14 May 2023)4 Rev I T S Garrett4 Rev R P Adcock4 Mrs E Jackson3 Mrs J A Jolley4 Dr S M Lee4 Miss D R Lawrence4 Mr A B Mathers4 Mrs L M E Robb4 Mrs G M Mackie4 Mr V Ogbummor4 Mr P Slegg4 Miss S Addison4 Mr J D McAllister4 Mr A D Shaw (appointed 14 May 2023)3 Mr J Green (appointed 14 May 2023)4

1 Clerk in Holy Orders

2 Churchwarden

3 Diocesan Representative

4 Other members

Charity registered number 1134530 Principal office Jesmond Parish Church Eskdale Terrace Newcastle upon Tyne NE2 4DJ Independent Examiner Kinnair Associates Limited Aston House Redburn Road Newcastle upon Tyne NE5 1NB Treasurer Mr W A Coulson Secretary Mrs L M E Robb

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Introduction

The members of the Parochial Church Council of Jesmond Parish Church (the PCC) present their report and accounts for the year ended 31 December 2023. These are prepared in accordance with applicable accounting standards and the recommendations of Statement of Recommended Practice: Accounting and Reporting by Charities.

Reference and Administrative Details

Jesmond Parish Church was consecrated on 14 January 1861 as ‘a church in memory of the late Rev Richard Clayton (1802-1856) ... in which evangelical truth shall be declared’, which would ‘form a central point for the maintenance and promulgation of sound scriptural and Evangelical truth in a large and populous town.’

The church is located at Eskdale Terrace, Jesmond, Newcastle upon Tyne, NE2 4DJ. The PCC accepts the responsibility of co-operating with the incumbent, the Rev David Holloway, in the furtherance of the above ideal and of co-operating in promoting in the parish the whole mission of the church, pastoral, evangelistic, social and ecumenical. The mission statement for the church is summarised as: Godly Living, Church Growth, Changing Britain.

The PCC members form the governing body of the PCC. The members who acted during the year and up to the date of this report are shown on page 1.

The PCC was previously a charity exempted from registration with the Charity Commission. Following the 2006 Charities Act it is now required to be registered. The PCC was registered as a charity on 26th February 2010 (registration number 1134530). The PCC has again during the year gratefully received the support of another charity, the Jesmond Trust – both in its original form (Charity Commission registration number 504491) and in its new CIO form (Charity Commission registration number 1193725). The Jesmond Trust is concerned to see the advancement of the Christian Religion through the provision of property (including accommodation for clergy), finance, ministry and other help for the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The following PCC members are also trustees of the Jesmond Trust:

The registered office of the PCC and details of its principal advisers are given on page 1.

Structure, governance and management

The PCC operates through a number of committees, which meet between full meetings of the PCC for discussion and prayer.

Standing Committee – this is the only committee required by the Church Representation Rules. It has power to transact the business of the PCC between its meetings, subject to any directions given by the PCC. It is made up of the three representatives elected from the PCC, the churchwardens and the senior minister.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Finance and Fabric Committee – this committee oversees the general financial and fabric dimension of the church’s work by monitoring income and expenditure, preparing the budget, ensuring adequate financial controls are in place and operating effectively and co-ordinating the annual giving review. It also advises the Jesmond Trust, a registered charity, which helps facilitate the work of the church.

World Mission Committee – this committee aims to promote congregational interest and involvement in the world-wide church, support of missionaries associated with the church and reviews applications for support.

Youth and Review Committee – this committee provides an overview of the youth activities in the church, including the Sunday school groups, crèches, and uniformed organisations.

The induction and training of any new PCC members takes place in a number of ways. At the first PCC meeting of a new PCC year the senior minister and chairman explains the responsibilities, the basis and the workings of the PCC to all the members of the PCC including those who are new. New PCC members are already involved in the life of the church and have a received a thorough introduction to the ministry of Jesmond Parish Church. New PCC members are also trained ‘on the job’ in main PCC meetings and sub-committee meetings by observation and explanation by other PCC members of the workings of the PCC.

During the year the PCC continued the process of systematically reviewing the risks that it faces. The greatest risk is ceasing to be faithful to Jesus Christ. That is managed by ensuring that the whole church in all its departments is biblically based. However, other risks include:

• Financial risk – managed mainly through the appointment of a qualified accountant as treasurer, producing an annual budget, having an annual giving review based on the financial needs identified in the budget, monitoring income and expenditure during the year on a regular basis, and practically having procedures for handling cash donated on Sundays;

• Reputational risk – managed mainly through rigorous vetting/training by the church of all potential church workers/volunteers based at Jesmond Parish Church, having safeguarding and child protection policies in place with the required Disclosure and Barring Service (DBS) checks and the taking up of references for all individuals involved in regular work with children and young people;

• Statutory/legal risk – managed mainly by tasking those who administer the Trust with responsibility for ensuring compliance with relevant legislation and purchasing adequate insurance cover; and

• Operational risk – managed mainly through the church recruiting and appointing only appropriately gifted and qualified workers and volunteers who are associated with the church’s work to fill positions of pastoral responsibility.

Objectives and principal activity

The primary object of the PCC is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England.

The PCC continued to work in promoting in the ecclesiastical parish the whole mission of the Church – pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the Church, Church Hall and Church grounds of Jesmond Parish Church together with the vicarage and curate’s house.

Public Benefit

When planning the church’s activities for the year, the PCC considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on the advancement of religion. The PCC also considered how the Church had succeeded in delivering its aims, including public benefit, when reviewing the achievements for the year which are summarised below and which the members considered to be a public benefit.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Achievements and performance

Average Sunday attendances at services at Jesmond Parish Church during October and November 2023 were 645 not including children. There were 238 on the Church Electoral Roll at the 2023 AGM. The six Carols by Candlelight services in December had a combined attendance of 3700.

Thanks to the hard work and creativity of the many teams of people involved, throughout the year a wide range of extensive ministries with those in all ages and stages of life was maintained. Some ministries still happened on-line if possible when they could not meet face-to-face. These include:

This diverse, seven-days-a-week activity is centred on Jesmond Parish Church and involves people throughout Newcastle and Tyneside. The PCC thanked God for his working in these ways. Despite the constraints, across the year hundreds of volunteers who are members of the church gave wide-ranging help across all the different aspects of the church's work. Without all of this dedicated and committed work the church would not be able to accomplish all that it does. The PCC would like to record their gratitude to God for these volunteers.

The PCC has encouraged members of the church to continue to support missionary and aid work in the UK and overseas. The financial support through The Jesmond Trust has amounted to £192,426, for which we give thanks to God.

The PCC met in full session seven times during the year. Average attendance was 17. Committees met between meetings and written reports of their deliberations were received by the full PCC and discussed where necessary.

On 23 January the council passed the Resolution with regard to the House of Bishops Declaration on the Ministry of Bishops and Priests. This concerned the need for male episcopal oversight and the requirement for a male vicar at JPC. At this time the bishop of Berwick was the acting diocesan bishop of Newcastle. It was reported that the new bishop would start on 22 April. The bishop of Berwick understood and accepted the situation regarding David Holloway’s delegation of the leadership of JPC to Jonathan Pryke. Jonathan Pryke, Ramzi Adcock and Ian Garrett had made clear to the bishop of Berwick in their conversation with him that the option of the orthodox and the revisionists walking together in the Church of England as two mutually recognised integrities was not acceptable. The budget for 2023 was considered. It was challenging, not least because of increased utility costs. The senior minister shared his thoughts on the way forward for JPC, including the need for a church-wide survey. The council discussed the developing and very serious situation in the Church of England following the House of Bishops proposal for prayers of blessing of those in same-sex sexual relationships. There was great disappointment that both the acting diocesan bishop and the bishop-elect had commended the proposals. JPC would need to come to a mind about how to respond.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

On 6 March the council heard a report about the progress made towards establishing independent CIOs for Holy Trinity Gateshead and St Joseph’s Benwell. There was discussion of a draft church survey. The senior minister updated the council on further developments in the C of E. The council passed a resolution expressing its dismay at the proposals from the House of Bishops, affirming with deep sadness our impaired communion with the House of Bishops, praying that it would change its mind, and confirming that we were seeking alternative episcopal oversight. It was agreed that JPC would join the North East Gospel Partnership.

On 20 March the council gave further consideration to options for the future of the church in relation to the C of E, and for alternative episcopal oversight. Each member of the council gave their perspective. The way forward was unclear. There was a need to involve the congregation in the conversation. We cannot compromise on the apostolic faith.

On 20 April there was a preliminary consideration of the accounts for 2023, prior to their finalisation. Thanks were expressed to the finance team. There was an early projection of a very significant shortfall at the end of the year. Andrew Shaw reported on progress towards the sale of 15 Lily Avenue. The council agreed to the authorisation of all members of the PCC and small group leaders to administer Holy Communion. There was discussion about the practicalities of Holy Communion at JPC. The senior minister reported on the ReNew Regional Leaders Conference in London, and also the GAFCON global gathering in Kigali, at which he had represented JPC. There was initial feedback on the responses to the church survey.

On 5 June (following the AGM on 14 May) new members were welcomed. There was a summary of key findings from the church survey. Overall it was very positive towards the life of the church, and there were also many suggestions for improvements, providing a lot of fuel for prayer and for action. We need to prioritise. Working groups would be set up. 25% of the church had begun to attend in the last 5 years. Regarding the C of E situation, there was discussion on how best to communicate about this with the wider congregation. Plans would be developed for this.

On 17 July a report from the world mission sub-committee was considered. It was noted that the introduction of missionary check-ins had been a helpful step forward in building and maintaining meaningful links with our mission partners. There was discussion of a range of issues relating to finance. There was a need for an autumn appeal. It was reported that working groups were being set up on teaching and training, staff team culture, and church planting and evangelism. There was a further discussion on the developing situation in the C of E, and on the church meeting about this. An additional working group would look into the various options facing the church. The teaching programme of the church was discussed.

On 18 September among other items there was a report on building maintenance work that was needed, and on the repairs being carried out at 15 Lily Avenue. Significant dates for the coming term were reviewed. There was a need to pray for a conductor for our Carols by Candlelight services.

On 11 November there was a report on progress with fabric repairs. There was discussion of the financial position, of detailed plans for the autumn gift week and for communication of our financial needs.

The meeting on 18 December followed the November General Synod meeting at which the plans of the House of Bishops for the implementation of the prayers of blessing of same-sex sexual relationships were narrowly approved. The Senior minister summarised the current position, and there was another long discussion about this crisis in the Church of England. There was a report on the thinking of the working group on JPC and the C of E, and possible scenarios for the future. The senior minister reported on discussions with Rob Munro, the bishop of Ebbsfleet, about the possibility that he could come to JPC for a confirmation service next year. It was reaffirmed that we would not be seeking his extended oversight, delegated from the bishop of Newcastle. Serious concern was expressed about the possibility of a negotiated settlement that would require unacceptable theological compromise. Practical responses were discussed and would be considered further in the new year.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

Funds are donated primarily as people are taught the principles of Christian giving by the clergy, lay workers and volunteers. This is especially done annually at the end of January and/or the beginning of February.

During the year the PCC’s total income increased from £239,387 to £249,435, an increase of £10,048 or 4%. Individual voluntary donations decreased from £18,277 to £14,043 a decrease of £4,234 or 23%. The PCC thanks God for his generous provision of these funds.

During the year the PCC’s total expenditure increased from £238,921 to £251,189, an increase of £12,268 or 5%.

The total of the PCC’s funds at 31 December 2023 was £205 which comprised an accumulated deficit on the General Fund of £320 and a surplus on restricted funds of £525.

The PCC’s policy on reserves is to spend in full any unrestricted accumulated surplus carried forward in the immediate future. The expenditure would, therefore, normally be during the subsequent financial year. This is consistent with the PCC’s belief that God will provide sufficient resources for the needs of the PCC.

Statement of PCC members’ responsibilities

The PCC’s members are required to prepare accounts for each financial year which give a true and fair view of the state of affairs of the PCC and of the surplus or deficit for that period. In preparing those accounts, the PCC members are required to: select suitable accounting policies and then apply them consistently; 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 accounts; and prepare the accounts on the going concern basis unless it is inappropriate to assume that the PCC will continue its activities.

The PCC members are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the PCC and enable them to ensure that the accounts comply with statutory requirements and with PCC’s constitution and rules. They are also responsible for safeguarding the assets of the PCC and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

The PCC has complied with its duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have regard to the House of Bishops’ guidance on safeguarding children and vulnerable adults.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023

Plans for future periods

The mission of the PCC is summed up as Godly Living, Church Growth, and Changing Britain. This comes from the Great Commandments of Jesus and his Great Commission.

Godly Living is based on the First and Greatest Commandment: "Jesus [said], 'Love the Lord your God with all your heart and with all your soul with all your mind. This is the first and greatest commandment" (Matthew 22.3738). Godly Living covers personal religion; accepting the importance of the Christian fellowship - the church - and its sacraments; belonging through small groups; biblical finance; Christian reading; and care for the poor - at home and abroad.

Church Growth is based on the Great Commission: "Jesus … said, 'All authority in heaven and earth has been given to me. Therefore go and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit, and teaching them to obey everything I have commanded you'" (Matthew 28.19-20). Church Growth covers evangelism at home and abroad; expository preaching; youth work; work with students - both UK students and international students; learning from and helping other churches and planting new churches; pastoral care; the welcome and incorporation of newcomers; the music ministry; overseas mission; Christian discipleship training seminars; and the use of the public media.

Changing Britain is based on the Second Great Commandment. "And the second is like it: 'Love your neighbour as yourself.' All the Law and the Prophets hang on these two commandments" (Matthew 22.39-40). Changing Britain covers influencing education; influencing the media; influencing politics; influencing the therapeutic services; influencing commerce; and re-evangelising the nation. It also involves meeting local needs through activities such as mother and toddler groups, holiday clubs for children, and uniformed groups (Beavers, Cubs, Scouts, Explorer Scouts, Rainbows, Brownies, Guides, Rangers).

The PCC plans to continue to work towards the fulfilment of this mission. Its vision for growth and the planting of new churches will be taken forward by working to grow Jesmond Parish Church, and in partnership with its sister churches Holy Trinity Church in Gateshead and St Joseph’s Church Benwell. New opportunities will be assessed as they arise, not least as the shape of church life inevitably changes in the continuing aftermath of the pandemic.

The facilities of Jesmond Parish Church are a vital tool for its work and mission, and the PCC hopes to make further improvements. The production of online Jesmond Parish Church services morning and evening will continue and develop, as will their broadcast on Clayton TV. The PCC will continue to support the growth of Christian work elsewhere in the UK and in other countries of the world.

Disclosure of information to auditors

So far as each member of the PCC at the date of approval of this report is aware:

Approved by order of the members of the board of Trustees on 29 April 2024 and signed on their behalf by:

==> picture [81 x 37] intentionally omitted <==

Rt Rev J J S Pryke (Curate and Chair) Trustee

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Independent Examiner's Report to the Trustees of The Parochial Church Council of the Ecclesiastical Parish of Jesmond ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.

Responsibilities and Basis of Report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's Statement

Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

08-May-2024 Signed: Dated: Mai L C Mak FCA

Kinnair Associates Limited Chartered Accountants Aston House, Redburn Road Newcastle upon Tyne NE5 1NB

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
208,244
4,207
133
36,851
249,435
251,189
251,189
(1,754)
1,434
(1,754)
(320)		 Restricted
funds
2023
£
-
-
-
-
-
-
-
-
525
-
525		 Total
funds
2023
£
208,244
4,207
133
36,851
249,435
251,189
251,189
(1,754)
1,959
(1,754)
205		 Total
funds
2022
£
233,277
3,990
-
2,120
239,387
238,921
238,921
466
1,493
466
1,959

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 11 to 19 form part of these financial statements.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

BALANCE SHEET AS AT 31 DECEMBER 2023

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after more
than one year
12
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 11,554
4,942
16,496
(16,291)		 2023
£
400,000
400,000
205
400,205
(400,000)
205
205
525
(320)
205		 9,652
16,943
26,595
(24,636)		 2022
£
400,000
400,000
1,959
401,959
(400,000)
1,959
1,959
525
1,434
1,959

The financial statements were approved and authorised for issue by the Trustees on 29 April 2024 and signed on their behalf by:

==> picture [80 x 37] intentionally omitted <==

Rt Rev J J S Pryke (Curate and Chair)

Trustee

The notes on pages 11 to 19 form part of these financial statements.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1. General information

The PCC is a charity registered in England & Wales. Its registered office is Jesmond Parish Church, Eskdale Terrace, Newcastle upon Tyne NE2 4DJ

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Parochial Church Council of the Ecclesiastical Parish of Jesmond meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The charity is a going concern and these financial statements are prepared on the going concern basis.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Voluntary income is recognised in the financial statements when it is received, or on an accruals basis where it can be assured with reasonable certainty and is receivable by the balance sheet date. Income tax recoverable on voluntary donations is recognised in the financial statements when it is receivable from HM Revenue and Customs.

All other incoming resources are included in the statement of financial activities on a cash received basis or on an accruals basis where they are assured with reasonable certainty and receivable by the balance sheet date.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.4 Expenditure (continued)

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and support costs involved in undertaking each activity.

Direct costs are those costs that are capable of being allocated directly to a charitable activity.

Support costs are those costs which cannot be attributed to a single activity, such as the administration staff roles. The Charities Statement of Recommended Practice requires that Support costs are separately identified and then allocated between the Charity's activities on a basis consistent with the use of resources. In practice, all support costs are allocated against ministry activities.

All expenditure is inclusive of irrecoverable VAT.

2.5 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.6 Tangible fixed assets

Tangible fixed assets costing £5,000 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

The main church building is excluded from the financial statements under Section 10(2) of the Charities Act 2011.

Movable church furnishings requiring a faculty for disposal are classed as inalienable assets. Insufficient cost information is available on these assets and the PCC believes that the costs of obtaining this information far outweigh the additional benefit that would be derived by users of the financial statements. They have therefore been excluded from the financial statements.

The PCC occupies one further property. This property is carried at a revalued amount under the revaluation model, being the fair value of the property less any subsequent accumulated impairment losses. The value of the property at the end of its useful life is deemed to be equivalent to its current value and the property is not depreciated.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

2.10 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Income from donations and legacies

Unrestricted
funds
2023
£
Donations
Donations from The Jesmond Trust
192,426
General donations
14,043
Legacies
1,775
208,244		 Total
funds
2023
£
192,426
14,043
1,775
208,244		 Total
funds
2022
£
215,000
18,277
-
233,277

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4. Income from charitable activities

Unrestricted
funds
2023
£
Income from charitable activities - Ministry and other
activities
4,207
Investment income
Unrestricted
funds
2023
£
Bank interest received
133		 Total
funds
2023
£
4,207
Total
funds
2023
£
133		 Total
funds
2022
£
3,990
Total
funds
2022
£
-

5. Investment income

6. Analysis of expenditure by activities

Ministry and other activities
Property
Diocesan Contribution		 Direct costs
2023
£
9,811
136,194
93,848
239,853		 Support
costs
2023
£
11,336
-
-
11,336		 Total
funds
2023
£
21,147
136,194
93,848
251,189

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Analysis of expenditure by activities (continued)

Ministry and other activities
Property
Diocesan Contribution		 Direct costs
2022
£
13,335
132,009
82,825
228,169		 Support
costs
2022
£
10,752
-
-
10,752		 Total
funds
2022
£
24,087
132,009
82,825
238,921

Analysis of direct costs

Expense and ministry cost reimbursements
Services
Leadership
Repairs and maintenance - main church
building
Repairs and maintenance - Lily Avenue
Rates and utilities
Cleaning costs
Insurance
Loan interest Lily Avenue
Diocesan contribution		 Ministry
2023
£
4,249
3,522
2,040
-
-
-
-
-
-
-
9,811		 Property
2023
£
-
-
-
13,330
20,423
66,478
17,239
11,289
7,435
-
136,194		 Diocesan
2023
£
-
-
-
-
-
-
-
-
-
93,848
93,848		 Total
funds
2023
£
4,249
3,522
2,040
13,330
20,423
66,478
17,239
11,289
7,435
93,848
239,853

Page 15

DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

6. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Expense and ministry cost reimbursements
Services
Leadership
Repairs and maintenance - main church
building
Repairs and maintenance - Lily Avenue
Rates and utilities
Cleaning costs
Insurance
Loan interest Lily Avenue
Diocesan contribution		 Ministry
2022
£
9,304
2,616
1,415
-
-
-
-
-
-
-
13,335		 Property
2022
£
-
-
-
61,867
1,565
35,884
15,874
10,011
6,808
-
132,009		 Diocesan
2022
£
-
-
-
-
-
-
-
-
-
82,825
82,825		 Total
funds
2022
£
9,304
2,616
1,415
61,867
1,565
35,884
15,874
10,011
6,808
82,825
228,169

Analysis of support costs

Support
Refreshment
Telephone and internet
Ministry office costs
Bank charges and interest
Governance costs		 Ministry
2023
£
-
1,408
5,848
121
479
3,480
11,336		 Total
funds
2023
£
-
1,408
5,848
121
479
3,480
11,336		 Total
funds
2022
£
23
1,344
5,459
99
467
3,360
10,752

7. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £1,340 (2022 - £1,110) , and accounts preparation fees of £1,900 ( 2022 - £1,770 ).

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DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

Some Trustees receive stipends from a related party to this charity, The Jesmond Trust, and further details of related party transactions are provided in note 15.

During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL) .

9. Tangible fixed assets

Valuation
At 1 January 2023
At 31 December 2023
Net book value
At 31 December 2023
At 31 December 2022		 Freehold
property
£
400,000
400,000
400,000
400,000

The freehold property represents a house in Jesmond which is owned by The Newcastle Diocesan Society but is used by the PCC. The house is shown at its fair value the original cost being £77,689. The valuation was made by the Trustees on 31 December 2023.

10. Debtors

Due within one year
Amounts owed by The Jesmond Trust
Other debtors
Prepayments and accrued income		 2023
£
10,660
172
722
11,554		 2022
£
-
117
9,535
9,652

Page 17

DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11. Creditors: Amounts falling due within one year

Trade creditors
Amounts owed to The Jesmond Trust
Accruals and deferred income
Creditors: Amounts falling due after more than one year
Church Commissioners loan
Accrued liability		 2023
£
3,632
-
12,659
16,291
2023
£
77,869
322,131
400,000		 2022
£
5,776
8,307
10,553
24,636
2022
£
77,869
322,131
400,000

12. Creditors: Amounts falling due after more than one year

The Church Commissioners' loan is in respect of the property detailed in fixed assets note 9.

The terms of the loan are such that in the event that the property is sold for more than the original cost, the excess proceeds must be paid over to the Church Commissioners.

The accrued liability represent the fair value of the expected excess proceeds.

13. Related party transactions

The charity had the following transactions and balances with The Jesmond Trust (The Trust)

2023 2022
£ £
Donations from The Trust 192,426 215,000
Amounts due from the Trust 10,660 (8,307)

In addition, stipends, social security costs, pension costs and reimbursed expenses totalling £232,762 (2022 - £216,207) were received by PCC members and their connected parties from the Trust.

Page 18

DocuSign Envelope ID: BE640E43-6620-4A22-A351-58CC85C2E229

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF JESMOND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14.
Statement of funds
Statement of funds - current year
Unrestricted funds
General Funds
Restricted funds
May Gift Week
Total of funds
Statement of funds - prior year
Unrestricted funds
General Funds
Restricted funds
May Gift Week
Total of funds		 Balance at 1
January
2023
£
1,434
525
1,959
Balance at
1 January
2022
£
793
700
1,493		 Income
£
249,435
-
249,435
Income
£
239,387
-
239,387		 Expenditure
£
(251,189)
-
(251,189)
Expenditure
£
(238,746)
(175)
(238,921)		 Balance at
31
December
2023
£
(320)
525
205
Balance at
31
December
2022
£
1,434
525
1,959

Page 19