Charity number: 1135593 The Parish of Leeds City PCC Trustees. Report and Financial Statements For the year ended 31 December 2021 8ARIs
The Parish of Leeds City PCC Contents Page Trustees. Report.......................................................................................................... Independent Examinerfs Report......................... Statement of Finanoal Attivities. Balance Sheet............................................................................................................. statement of Qsh FFow5 ...........................................................................................- IC, N0*5 to the Financial Statements................................................................................ _-
The Parish of Leeds City PCC Trustee5' Report for the year ended 31 December 2021 The Trustees present their annual report an¢J financial statements for the year to 31 December 2021. These financial statements have been pDared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Prartice applicable to charibes preparing their financial statements in accordantr with the Finanual Reporting Standard applicable in the UK and Republic of Ilan¢j {FRS 1021 (effective l Januèry 2019} as detailed in the accounting policies. Reference and Administrative Details The Leeds City Parisl compnses the parish churches of st. Peter-3t-Leeds (Leeds Minster). The redundant Church of St. John the Evangelist, New Briggate 15 located within the Parish ènd is in the care of the Churche5 Conservatson Trust. The Church of Holy Trinity Boar Lane wa5 trBn5ferred from the Parish of Leeds City to the Parish of Leeds St. George on l May 2021. The Parish of Leeds City is in the Archdeaconry of Leeds. wh¢ch itself is ctrterminus with the Leeds Episcopal Area. part of the Diocese of Leeds in the Pmvince of York within the Church of England. The correspondence address is 2-6 Sf. Peter's House. Kirkgate, Leeds LS2 7DJ. The charity registration number is 1135593. PCC members who served from 1st January 2021 until the date this port wa5 approved are: Rertgr Lecturer. The Revd Canon 5am Corley The Revd Professor Simon Robinson Kay Brown To 19" July 2021 Licensed Lay MinistÈr: A55iStant Curate Vice-chair of the PCC The Revd Judith aark Churth Wardens: Tr*vor Pad(er Simon Peatmen Rhtsja Walla To 25th April 2021 Elected 25th April 2021 Re-eletted 25Lh April 2021 for l year Representatives onthe Deanery Synod". Ann Clark Kay Brown Simon Pea[an David Dredge Elected 18 Ortober 2020 for 3 years Elected 18 Ortober 2020 for 3 years Electe(J 18 October 2020 for 3 years Elected 23 November 202L for 2 year5 Elected Members: Quentin Brown David Dredgé Christopher Webster Lesley Allsopp Noreen Connor John Tempest Peter Edson Diane Maloney Trevor Parker Elerted 25 April 2021 for 3 years Elected 25 April 2021 ftsr 3 years Elected 25 April 2021 for 3 years Elected 28 April 2019 for 3 years Eletted 28 April 2019 for 3 years Resigned 19 January 2022 Elerted 18 Ortober 2020 for 3 years Elected 18 Ottober 2020 for 3 years Elected 25 April 2021 for 3 years ThÈre are currendy five vacancies on the PCC, two vacancies for one year, one vacancy ft)r two years and two vacanoes for three years. PCC Secretary: Chrisbne Lenton 16 September 2021 to 31 December 2021 To 15 Sopternber 2C>21 Richard Butterfield PCC TreaSUr= Trevor Parker Re -aptK)inted 25 April 2021 Principal Bankers: CAF Bank Ltd, 25 Kings Hill Ave, Kings Hill, West MallingA Kent, ME19 4JQ Natwest. PO Box 666, Watedw Street. Bolton, BLI 8FH CCLA Investment Management Ltd. The CBF Church of England Funds. 80 Cheapside, Londort, EC2V 6DZ Independent Examiner: Laura Masheder FCA. DChA. Azets. Triune Court. Monks Cross Drive, York, Y032 9GZ
The Parish of Leeds City PCC Trustees. Report for the year ended 31 December 2021 Structure. Governance and Management The Parochial Church Council CPCC) is a corporate body established by the Church of England. The PCC operates under the Parochial Church Council Powers Measure. The PCC Is a registered charity (Registration Number= 1135593}. The rnethl of appointment of PCC members is set out in the Church Representation Rules. All Church aitendees are encouraged to wister on the Electoral Roll and stand for election to the PCC. Statement of PCC members, SpOnsibl11t]eS in respect of the Finènoal Statements The PCC members are responsible for preparing the Annual Report and the financial 51atements in accordance with applirable law and regulations. The financial statements are required by law to give a true and fair view of the state of affairs of the Churth and of the income and expenditure for that periiid. In preparing these financial ststements, the trustees are required to: select suitable accounting polioes and then apply them coDsi5tenttyN ob*rve the method5 3nd principles in the appIlble Charities SORP- make judgemeits and estimates that are reasonable and prudent. state whether applicable UK AccounDng srandards have been followed, subject to any material departures disclosed and explained in the finanaal statements. and preparè thè finanoal statements on the going concern basis unless it is inappropriate to presLJme that the charity will continue in its acivityes. The PCC members are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial p05ition of the Church and enable them tr> ensure that the financial rtatements comply with the Char5bes Act 20LI and the Church Accounting RegulatiDNS 2006. They have genefal responsibility for taking Such steps as are reasonably open to them to safeguard the a55ets of the Church and to prevent and detect fraud and other irregularities. Objetttves and Activities Leeds City PCC has tie responsibility of co-operabng with the Roctor of Leeds in promoting in the ecclesiastical parish the whole mission of the Church. pastoral, evangelistic. social and ecumenical. It also has Maintenan responsibilities for the Church of St. Peter at Leeds- the St. Peter's precinct buildings cornprising St. Petees House, the Church Hall (both of which are leased}, and the caretaker'5 flat,. and Holy Trinity Church. When rewewing the aims ond objectives of the chanty, and in planning future acbvities, the trustees have complied with the duty in section 17 of the Charities Act 2011 tts have due regard to public benefit guidan published by the Commission. Fundraising We StVe to achieve the highest fundraising sn(larS and we value our supporbve funder5. We stay up to <Jate with developments in charity regulabon. data protection and the Fundraising Prefertnce SeNice (FPS) to make sure we are legally compliant and adhering to all guidelines. We rollow the Institute of Fundraising's Code of Prath. No complaints regarding our fundraising activities have been received in the year. Athievements and Performance Key events in the past 12 months: Covid-19: 2021 coritinued to be dominated by the impact of the ongoing pandemic. In comtntsn with other places of worshTP and religious oryani5ations. the Parish of Leed5 Oty has been severely affected by both the uncertainty and restrictions around Covid-19 but we have maintained in-person wotship in one fomi of another throughout the year. This has been 5upplemÈnted by midweek online services and Lent courses on zoom.
The Parish of Leeds City PCC Trustees. Report for the year ended 31 December 2021 Achievements and perfOrnnCe (continued) Our pattem of worship has been greatty affected by the COVID-19 pandernic, as has acce55 tts the building, but as changes became possible to PCC trx)k decisions to open up further. During the Spring we were re5trirted to a said seryice with communion in one kind and oryan voluntaries as our musical input. This was followe£1 by an online services of the word where the same sermon was given and discussed. Sermons We *nt out in the weeY eFnai15. along with service booklets. to allow as many as p05SitAe to connect with Sunday worship. From Palm Sunday 2021 a cantor was permitted to sing to lead aspects of worship and fmm Easter Day two in person moming services were offered again.. a BCP service at 9.15arn and a CW servi5 at 10.20am. The online Servi continued for th05e not re3dy for in person worship. From 23 May were delighted to welcome bad( a socially distance and smaller choir to lead worship on Sundays, induding choral Evensong. This continued until the end of the choir to lead worship tsn Sundays. including Chor61 Evensong. This conbnued until the end of the thoir year at the end of Junè and then a tantor again led worship. Frorn luly the congregation were allowed to sing 111, albeit behind our masks. And organ recitals hèppened again on Sunday evenings during ALJgust. In September 2021 servi5 tUrned to a prc0vId pattern, wtth è full choir and the resumption of Thursday Evensongé mid-week cotnmunion and Friday organ recitals. Social distancing rnained in place and mBsks continued to feature but these moved from requirements to recommendations to discretionary. A150 in September we were, at last, able to open the building to visitors on Tuesdays. Thursdays and Fridays. Throughout this time of disruption, the support, Ilexibility and dedicatior) of the churchwardens, sidespeople, choir and organists. iEII ringers. sacristan and serving tearn and Minster staff has been tremendous. Likewise, the congregation those who have been praying with u5 and for u5 from home. as well a5 those who have attended services have offered support. care and encouragement to the Minister Staff. offfrs and volunteers and to one another. It has been such time of dertiand and challenge but vie have. by worng together, maintained a worshipping presence in rhis pèrt of the city. Finance: In spite of the impart of the Covid 19 paF)demic and the precavtlonary 5U5pen5ion of Parish Share payment in luty 2020, it was possible to pay the 2020 arrear5 as well a5 continuing to pay Parish Share throughout 2021. This was as a result of receiving a legacy in the sum of £20,834 and a NLHF Culture Recovery Grant in the sum of £46.900. The Diocesan Historic Share policy allowed a further wrTte-off of a proportio of our Historic sha[ deficit, which, provided payment is continued in full should be eliminated by 2024. It should be noted that Grant funding and Legacy income should not be allowed to create a false sense of security- A de11t budget has been set for 2022 on the basis that the rema&ning (£35kl surplus frorn 2021 will allow 'breathing space, to move towards Financial Sustainability by 202314. To that end a Financial Sustainability discussion paper has been prepared for consideration and development by Finance Comtnittee. While during the year, the laryer of the two vacant office svites has been let. the other was in process of being cleared at the yÈar-end. The CircUstanCeS of the temiinatitsn of the tenancy are involved and the tenant company is insolvent. A significant amount of income has been lost through rent default. The PCC is examining ways of improving the management of our properties going forward. In the meantime, the property need5 a significant rettification spend to make it fit to let. This property should be grossing in the region of £14k per ènnum. Staffing: The most significant change to staffing was the elettion of Qnon Sam Codey to Bishop of Stockport. His ¢onsecrabon in York on 19th July was attended by a small number of the Minster congregation. with significant covid restrirtions 5ti11 in ple, but many tnore were able to join in the celebrations online. Although a joyous occasion, vrfe were sad to see Canon Sam leave after less than six years with us but will always be grBteful for all that Canon Sam's ministry brought to us. His leadership vision has moved the Parish on 5ignificandy and we are much the richer for
The Parish of Leeds City PCC Trustees. Report for the year ended 31 December 2021 As a parish we have benefitted greauy from the miftisty of Assistsnt Curate ievd Judith Clark who, Sin Canon Sam's departure, has had responsibility for Servi and has shown great flair and ability in co-ordinating these for us. We are also grateful to Revd PITLessor Simon Robinson and visiting dergy who have hel us continue our pattem of services Dver trLe Auknmn months. In November the PCC welcomed thÈ proposal that the Revd Mary Bradley be IiTrnsed to serve in the parish to develop Dastoral care ministry, to be comtni5sioned in January. In July the PCC received the resignation of the Dirertor of Operations, Ri-hard B. moved to a new post with Histonc England and left Leeds Minster in SepiUIte-. grateful for all his work in shaping policies and procedu$ as well as oversee.'ng I,- novation and day to day running of the Minster. The parish continues to err5ploy a D.La-. Q-, Music and a Sub Organist (Mth posts SUprted by a grant from The Friends of lis..= Minster),. a Finance Office (funded by The Harrisons Charityl- and a Caretaker I[t7 Ssl2- accommodation provided dirert frt>m Parish $OUr). In Dernber an appointrenL Oi a Fa-. - time admin assistant. to start in Januaryi was made (funded by the Diocese of Leed5). IA R".=hErd Special Services: The impatt of the Pandem¥c has greauy reduced any opportunty X ho special services but we bvere able to hold the ennual ordination service, with Revd Josh Cc-Ly_-.e licensed as Assistant Curate to be based at Holy Trinity. Boar Lane. We were a150 able to b.-11 nnual Remembrance service hosting the Royal British Legion and as services retumed to n=r.al it was a great achievement that the nomial round of Christmas services and Carol Services ii"E.- able to take place. from the Yorkshire P05t to the Lord Mayorfs carol service among others. st John's Church: The Parish of Leeds City continues to have some responsibilities for tne Church of St John the Evongelist, Ne%y Briggate. which is the regional headquarters for the Ehurches Conservation Trust {CCT}. SL John's is in the care of the CCT, but the Rector is still technically the incumbent. The PCC is responsible for the Churchyard at St. John's, induding insurarice obligatsons, though the care and ¥naIntenan of rhe Churchyard is undertaken by Leeds City Council. In 2019 the PCC discussed pmtM)5als for the churchyard and the external area around the church developed by Leeds City Council. These plans remain at the development stage. though significant work to the east of the church is underway to pedestrianise New Briggate, and it is hoped that these works will see the proposals for the churchyard move forwards. Holy Trinity Churth. Boar Lane: The refurt*ishment work5 We scheduled for completitsn in Jonuary 2021 and although there have been sorne snagging works since that datÈ tho work has been ctsmpleted and looks very smart. After consultation. the movement of the Parish boundary became official on 01105121 and Holy Trinity moved into the Parish of St George s. The move repsents a deepening of the partnership between Leeds City Parish and St George's Leeds which was always in view throughout the development of ihe projert at Holy Trinity, and the parish looks forward to contributin9 to the new ministry there and has maintained links through prayer groups antfj services. Leeds Minster: In September Leeds Minster was once again able to tske part in Leeds Heritage Open Days and re1Ve visitors to the church. In November we hosted the annual Hook letture for Leeds Church Institute. Dr Carmody Grey. from Durham University. posed the question 'Thinking about Faith and Climate what do we want to sustain?. This was offered as è podcast as well as in-person and was a well e1ve contribution to the climate debate. In July Catherine Hicks was appointed Parish Environmental Offir and in October we started to hold morithly environmental discvssion groups. In the first months of 2021 the roofing Wofks were undertaken. Due to timing and financial constraints this covered the whole of the various roots of thÈ east end of the building and the Lady Chapel but not the Tower or the City of Leeds room. Due to problerns with the oualiry of some of the work there were serious overruns and further leaks leading to internal damage. This was Covered by InsuTrnce but has taken lime to complete. The cost of the roof was covered by a large grant frotn the Culture Recovery Fund 1£326.237 or 80%). with the rest being found by Fnends of the Music. Historic Churches Yorkshi, Church Extension Society and others. The work finally finished In July. To date there is no plan in pla for the roots Slill to be replaced as bids for further funding were unsuccesshJl.
The Parish of Leeds City PCC Trustees. Report for the year ended 31 December 2021 In addilion to the roofing works. asbestos has been removed in the belfry and new sound control has been installed by Taylors of Loughborough. Music Department: A full report on the acuviues of the mustc department is detsiled elsewhere in the annual report. Suffice to say that Alex Wo(x1row, as Direttor of Music, ably supported by Sub-organist David Houlder and Organ Scholar William Campbell, worked tirelessly tts bring whatever rnusic was perrnitte£f to our worship life. From organ voluntaries and virtual c[lS to solo Cantors and small ensÉmbles, it wa5 With great joy we were able to retum to something like a nomal offer of %VOTSMip in September. we are grateful to them and all the choir members for staySng connected through the 'quiet month5. and that they have come back in such strong form to lead us in weekly worship. We truly have a choir all of us are blessed to listen to and sing with on a regular basis. We continue to be grateful to the Pilling Trust, the Cathedral Music Tnjst. the Friends of the Mu51C, the Liz & Tery Bramall Foundation and a generous legacy which has made it possible to sustain our programme of 5cholar5 whith bring such tichness to our existing (wonderfull choir. Our goteful thanks to all involved and especially to Alex for his leadership over this challenging tirne. Education: Following the redundancy of our Education Officer in 2020 and with the ongoing challenge of the pandemic. it has not been able to restart our education work. In recent months there has been a renewal of interest from schwls and it is hoped that when funds allow, we will be able to stsrt this work again. The role of the Rector of Leeds: The Rector continued to play a role in the various charities and trusts of which he w3s an ex-officio member by virtue of his office. including The Market Place, the Harrison's Charity, the Friends of the Music of Leeds Minster. the Leeds Church Extension Society and the Leeds Church Institute, until his departure in July. When the new Rector is in post it is hoped he will be able to take up these posts. along with involvement with the governing body of st Peterf5 prisriary schtsol and a leading role in the Dsocese and Episcopal area. Safeguarding and Health & Safety: At a meeting on 30th November 2021. the PCC reviewed and renewed it5 commitment to the Safeguarding Policy Ststement 'Promoting a Safer Church, published by the House of Bishops in 2017. This will continue to be reviewed annually. and the relevant policy and contatt infomiation is displayed On noti5 boards in both churches and is also accessible on the Minster webslte. At the sarne meeting Tn November, the PCC re-appointed Kay Brown a5 the Parish Safeguarding Officer. Richard Butierfield oversèw health and safety on behair of the PCC and since his departure. Dr Simon Peatman {Churchwarden} has undertaken this role. We continue to be well supported by Alpha Swanson, our Health and Safety consultants, to ensure that the PCC is fulfilling its obligations in this aa. and a health and safety working group met during the year. Plans for thè future In 2020 we ststed fhat this was a year like no other. As has become apparent, this could equally apply to 2021. Following Canon Sam's departure the PCC went through the arduous pn>cess of Section 11 and Secbon 12 to generate the Parish Prtsfile and Parish Brochure and by the end of 2021 this process was cotnplete and an advert For the post of Rector of Leeds was produced. Kay Brown ILLMI and Simon Peatman (Churchwardenl were the elerted representatives of the PCC. It was Februèry 2022 befo interview5 could take and Canon Paul Maybury wa5 appointed but we maIn in vacancy for some time yet. The PCC is committed to working as hard as it tan, vndÈr God, to en5urÈ that the ministry of the parish continues through and beyond this period of considerable uncertainty and challenge but we need the v4hole parish to pull together tu grow our faith. our vision. our congregatitsn and our rnission as we seek to live as Christians in this parish. Let us be faithful in prayer to that end. Firtarteial Eieview Total receipts on unrestrirted genetal funds We £278,439 12020= £161,198), and are detailed in the financial statements. The largest element is doftations and legacies at £154.320 1202CI.' £103,036). Charitable attivities raised to>1 funds of £38,109 12020.. £4,236). and other trading rtivities rolsed £17,388 12020= £22,099)-
The Parish of Leeds City PCC Trustees. Report for the year ended 31 December 2021 Financial Review (continued) Total expenditure from the unstricted fund5 was £246,709 {2020= ri j2,685} èoain detailed in the financial statements. to give a net result ftsr the year on unre5ttL JiuS Oi a surplus of £34,881 12020-. svrplus £10,029) after taking into accourit gains on If&'.'.,Éi- rev2luètions of £3.151 12020.. {£1.516)l. The contribution 1 to the dioce56Tr pansh s"..a was -0,67Q c>ur required contribution was £60,451. The differen is the payment of 2020 2rears 2$ pmiously explained. Our cumulative outstanding parish share is £264,451. Total funds at 31 Dmber 2021 were £986,048 (2020.. EI.090,662) of ivp. £831,007) were unrestritted. The restritted funds al 31 December 2020 'ele - £259.6551. Q-5.$S8 {2020- 1e.-, 12020= Going Concern The trustees have prepared finanoal projections. takn.ng inro conderatiOn the oJrrei- ti-. £ climate and its potential irnpact on the sources of income and planned ÈxpendrtULE. Tr.&.. reasonable expectation that adequate finantial resources are available to enable t',.e continue in operntional existence for the foreseeable fijture. and have adeou3te conttrL. in the event that income Streams are redu and the charity has reserve5 sufFicient LO immediate requiffments. Consequendy the financial statements have therefore been prep2 c the basis that the charity is a 90ing concern. Reserves PoliLV It is PCC policy to maintain, if possitAe. free reserves which equates tt) approximately tn Fnonth5 unrestricted payments (to indude paying the dI0$3n share in full) to cover emergeri Tr. 51tuations that may arise from time to titne. AE 31 December 2021 this requirement i'las approximately £62,000. The bèlart of £71.610 on unrestritted funds held in net current assets i the year-end is adeouate to meet this tsrget. Approved by the PCC and signed on its behalf t*y: Kay Brown Vice-chair of the PCC Date: 0810612022
The Parish of Leeds City PCC Independent Examiner's Report to the Members of the Parish of Leeds City PCC I report to the trustees on my examination of the finanaal 51atements of the Parish of Leeds City PCC for the year ended 31 December 2021. This report is made solely to the charity's trustees. as a body, in accordance witj) Settion 145 of the Charities Act 2011. My independent examination work has been undertaken 50 that I might stsre to the charity's trustees those matter5 1 am required to state to them in an Independenl Examinerf5 Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume SPonSIbl1ty to anyone other than the Charity and the chariry's trustees as a by, for my independent examination work, for this ptsrt. or for the opinions I have formed. Responsibilities and basis of report As the charity trustees of the PCC you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 20111.the ACV). I report in respect of my examination of the Trust's financial statements carried out under section 14S Df the 2011 Act and in carrying out tny exarninatson I have followed all the applicable Directions given by the Charity Commission under 5ectton 145{51{b) of the Art. This report, including my statement. has been prepare<J for and only for the charity's Irustee5 as a body. My work has been undertaken so that I might 5tote to the charity'5 trustee5 those matters I am required to state to them in an Independent exaFninerf5 report and for Tro other PLJrpose. To the Fullest extent permitted by layi, I do not accept or assutne responsibility to anyone other than the charity and the charity'5 trust as a body for my examinaDon work. for thi5 report, or for the statements I have made. Independent Exarninerfs Statement Since the Charity's gross income exceeded E25D.000 your exarntner must be a member of a body listed in sertion 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a membeF of Insbtute of Chartered Accountsnts in England and Wales, which is one of the listed bodie5. I have completed rny examinatyon. I confirm that no material rnatter5 have come to my attention in connettion with the exarnination giving me cause to believe that in any rnaterial respect.. l. accounting records were not kept in respect of the Trust as required by section 130 of the Art- or 2. the financial statements do not accord with those records- or 3. the financial statements do not comply with the applicèble reqvirement5 concerning the form and content of financial statetnent5 set out in the Charities (Financial statements and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view which is not a lllatter considered as part of an indepeftdent exam50ation. I have no concern5 and have come across no other matters in connertion with the eXalation to which attention should be drawn in this report in order to enable a proper understandirig of the financial stateFnents to be reached. Laura Masheder FCK DChA AzÈts Triune Court Monks Cross Drive York Y032 9GZ Date 0810612022
The Parish of Leeds City PCC Statement of Financial Activities For the year ended 31 December 2021 2021 Funds Total Funds 2020 Total Furbds Funds Income from: Donations and legacies Charitable activities Other trading artivities nvestments Totsl income 154.320 34,606 17.388 540,840 3,503 695,160 38.109 17.388 681,279 4,236 22,099 278 439 822 782 740 501 Expenditure on: Raising funds Charitable 3ttivities Hol Trini Pro ect Total ex enditure Net income / (expendtture) before other rtreognised gains 347 246,362 347 841,270 93.303 972 265,482 807 565 1 074 019 594,908 246 709 31.730 1143,8681 (112,138} {333,518) other recognised gains Rea115ed and unreali5ed gains on investments Net movement in funds 12 7,524 3,151 4.373 34,881 1139,495) {104,614} 5,323 1328,195) Reconciliation of funds: Total funds brought forward Total funds carried forward 1,090,662 1,418,857 15, 16 831,007 259,655 15, 16 865,888 120,160 986,048 1,090,662 A fully detailed Statement of Financial Activibes for the year ended 31 December 2020 is shtswn at note 21. The notes on pages 11 to 21 ftsmi part of these financial statements. There are no COgnised gains ar losses other than those in the statement of financial attivities. All the abtsve amounts relate to continuing activitie5.
The Parish of Leeds City PCC Balance Sheet as at 31 December 2021 Note 2021 2020 fixed Assets Tangible fjxed asset5 Investment property Investments io li 12 181.386 595,0(Kl 60.120 182,060 595,000 836.506 857,252 CuTrent Assets Debtors Bank 13 23,266 27,712 274 535 302,247 165,120 Creditors.. amounts falling due within one ear Net Current Assets 14 233 410 Net Assets 1 090 662 Funds of the charlty: Unrestrirted furtds Restricted funds Total funds 15.16 865,888 120 160 831,007 259 655 1 090 662 Approved by the Parochial Church Council and sgned on tts behalf by: 0810612022 Kay Brown Vice-chair PCC. Licensed Lay Minister Date The notes on pa9es 11 to 21 form part of these financial slatefflents.
The Parish of Leeds City PCC statement of Cash Flows for the Year Ended 31 December 2021 Note 2021 2020 Cash flows from operaling activities= Net cash {used in erating activities 19 212.402 299.193 Cash flows from investin9 activitzes: Purchase of tangible fixed a55ets Proceeds from disposal of investments Investrne,-.t income Net cash provided by investin {2,6951 27.596 72,125 99,721 32,887 30.L92 activitie5 Change in cash and cash equivalents Cash and cash equivalents at the be inning of the Cash and cash e uivalents at the end of the year (112,681} 274,535 I6154 {269,001) 543,536 274,535 The charity had no debt during the year. io
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 l. Accounting Policies The principal accounting policies adopted. judgements and key sources of estimation nrtaInty in the preparation of the financial statements are as follows-. Charity Infonnation The Parish of Leeds City PCC Is a charity gIStered in England and Wales {charity registffttion number is 11355931. The COrspOndence address is 2-6 St. Peter's House, Kirkgate. Leeds LS2 7DJ. Basis of preparation The financial statements have been ppaa in accordance with Accounting and Reporting by Charities- Statement of Recommended PrartI applicable to charitie5 preparing their financial statements in ÈccordancÈ wTth the Financial Reporknng Standard appliCae in the UK and Republic of [land {FRS 1021 (effectivÈ l January 20191 (Charities SORP {FRS 1021), the Financial Reporting srandard applicable in the VK and Republc of Ireland (FRS 1021. The Parish of Leed5 City PCC rneets the definition of a public benefit entity under FRS 102. Assets and liabilities are Initially recognised at cost or transartK>n value unless otherwise stated in the relevant accounting policy notes. The financial statements have been ppa to give a 'true and tsir. 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 ha5 involved following Charities SORP {FRS 1021 rather than Accounting and Reporting by Charities= Staiement of Recommended practi effethve frotn l April 2005 which has Since been withdTrwn. The financial statements have been prepared under the historical cost convention except ftrr the valuation of investment assets, which are shown at market value. The financial 5taternents include all transattions, assets and liabilities for which the PCC is liable in law. They do not include the financial ststements of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. The finanual ststernents have bn prepared in pourKJ steding which is the ftjncbonal currency of the charity. Monetary amounts in these finanoal statements are rounded to the nearest £1. Going concern The Trustees have prepared financial projections, taking into consideration the current economic climate and its potenknal impatt on the sources of income and planned expenditure. The trustees have a reasonable expectation that adequate financial resource5 are available to enable the charity to conbnue in Operatnal ex1steTr for the foreseeable future. and have adequare contingency plans in the event that income streams are reduced. Consequently the financial statements have therefore been prepared on the basis that the charity is a going concern. Income Iricome represents all resources which become available tt> the charity but excludes gains on investments. Grants, donations and legacies and associated gift aid are recognised when the charity becomes entitled to retrive the funds. when it is probable that the funds will be ceiVed and that they can be measured with sufficient reliability- Investment income is recognised on an accruals basis and comprises of djvidends dedared and interest ceIvable durir)g the accounting period and rents from investment properties which are induded when they a receivable by the charity. Expenditure Grants and donation5 are accounEed ft>r when paid over or awarded. The diocesan parish Sha 15 accounted for when paid. Amounts 1Ved specifically for mission are dealt with as restricted funds. All othÈr expendUre is re£ognised when incurred and accourited for gr055. Staff Costs The costs of short tern employee benefits are recognise¢J as a liability and an exponse where Settlement of obligation5 doe5 not fall wh1n the Same period. li
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 Accounting Policies (Continued} Operatin9 Leases Rentals applicable in respett of operating leases where substantially 811 the benefits and risks of owrtership remain with the lessor are charged to the income and expenditure account as incurred. Funds Restricted Funds." represent donations or grants received for a speofic objert or invited by the PCC for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forword a5 a balance on that fund. Unrestricted fund: represent 9eneral funds which can be used for PCC ortlinary PUTP05es. Tangible fixed asstts Consecrated land and buildings and moveable church furnrshings Consecrated and benefi property is not included in the financial statements in accordance with s.10 (2)lal and Ic) of the Charities Act 2011. Other land and buildings The charity owns the fl3t occup by the caker, which is included at a valuation arrived at by the PCC. No depreciation is charyed against the flat and the carrying value will be reviewed annually. other eouipment Equipment Used within church premises and offices is depcIated on a straight line basis over 4 years. Individual items of equipment with a purchase pri of £1,500 or less are written off in the peri( in which the asset Is acquired. Investments Investment properties are properties hèld to earn rentals andlor for capitsl appciation, are eaSUd using the fair value model and are statèd at thÈir fair value which is estim3ted based on future cashflow expettations and the current market conLlitsons at the reporting date. The surplus or deficit on revaluation ts recognised in the SOFA. Other listed investments are held to generate retums and gains for the charity and accordingly è designated as fair value through profit and loss fFVtPLi. Under this designation the portfolio is re-valued at each period end to its fair value, as determined by refenCe to quoted market prices and values determined by irbdependent fund managers, viith any gains or losses going through the SOFA. Ffftnancial instruments The Charity has elerted to apply the provisions of Section 11 'Basic Financial Instruments, and Secbon 12'0ther Finèncial Jnstruments 1$5ues' of FRS 102 to all of its financial instruments. Cash at bank and in hand Cash at bank and cash in hand include5 cash and short temi highly liquid investments with a short maturity held for working c2Pital. Bank overdrafts a shown within borrowing in current liabilities. Debtors Trade and other debtors a recognised at the 5ethement atnount due after any trade discount offered. Prepayments and accrued iTh¢otne represent time apportioned expenses or incoFne to be recognised in a future accounting period. Financial assets, other than those held at fair value through profft and 1055, are assessed for noicators of Impairment at each p)rtIng end date. Financial assets a impaired Whe there is objective evidence that, as a result of one Or nore events rhèt occurred èfter the initial recognition of the ftnancial asset, the estirnated futu cash flows have been affected. The impaKmient loss is recognised in the income and expenditure account. 12
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 Accounting Policies {Ctsntinued) Pension Costs The charity has made arrangements for a defined contrbutyon scheme for the members of staff. The assets of the scheme are held separately from those of the Charity. Pen510n Costs charged in the Statetnerit of Financial Acknvities represent contribuborts payable by the charity in the year. Creditors. loans and provisions Creditors, loans and provisions a wognised where the char5ty has a psent obligation resulting from è past event thèt will probably result Fn the transfer of funds to a third party and the atnount due t0 settle the obligation can be measured or esbmated reliably. Creditt>rs. loans provisions are normally recognised at their settlement amount after allowing for any trdde discounts dtje. Financial liabilities are derecognised when. and onty when. obligations are discharged, cancelled or they expire. Amounts recognised as provisions a best esimates of the considerotion qUId to settle the Psent obligation at the reporting end date. taknng into account the risks ond uncertainties surrounding the obligation. 2. Critical Accountin9 Estimates and Judgements In the application tsf the charity's accounting poliues. the Trustees are reqLJired tr> make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The e5bmates associate<J assumptions are based on historical experience and other factors that are considered to be relevant. Artual results may differ from these estimates. The estimates and underlying assumpb.ons a Ved on an Dngoing basis. Revisions to ccounting estimates are recognised in the period in which the estimate is revised, if the revision affect5 only that penod, or in the period of the revision ènd future penods Jf the revision affetts both current and future pericKIs. Tme folloiving estimates and assumptions that have a significant risk of causing a material adjustrnent to the carrying amount of assets and liatsilits"es'. Investment property valuations: Investment properties are included in the financial statements 3t fair value. The valuations are Trustees valuations and are based on current market conditions and prevailing values and expected future cashflows from the properties. Depreciation It coTrtlnUE5 to be the Charity's policy not to provide depreoation on freehold or leasehold property as. in the opinion of the Trt55tees. its esbrnated residual value at the end of its economic life is expected to be at least carrying value so that any depwiation charge would bÈ immaterial. 13
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 Donations and Legaaes Unrestrirted Funds Restricted Funds 2021 Total 2021 Planned giving: Regular donations Tax recoverable Open plate collections Collecttons for speual purposes Legacies othÈr donations Grants . Leeds City Council All Churches Trust Church Extension Society H3rgreaYes Chanty Pilling Trust Harrisons Charity z 2nd Terry Bramall Fciundation Heritage Cultural Recovery Fund Cathedral Music Trust Garfield Weston National Lottery Heritage Fund Yorkshire Historical Trust Diocese of Leeds Friends of the Music of Leeds Minster Trinity Church Repair Charity LPOW 43,756 9,301 1.389 43.756 9,301 1,389 20.834 5.193 20,834 6,538 1,345 io,Ix)o 10,000 6,000 6.000 I,ooo 7,500 12,250 12,800 12,800 314.177 314,177 6,000 6,000 15,000 15.000 46,900 3,500 37,503 64,000 1,000 7.500 12.250 46.900 3,500 37,503 64,00 154.320 540.840 695 160 Unrestricted Funds Restrieted Funds 2020 Totsi Prior ear Planned giving: Regular donations Tax recoverable Open plate collections Collertion5 for special purpose5 Legacies Other donations Grants . Leéds City Council All Churches Trust Pilling Trust Harrisons Chariry Diocese of Leeds Friends of the Music of Leeds Minster Trinity Church Repair Charity LPOW 44.788 11,074 2,000 324 7,500 20.382 626 45.414 11,074 2,000 324 7,500 20.382 10,000 10,000 10,500 7,500 7,250 50,004 32,245 370,194 106 892 681,279 10.500 7,250 50.004 32,245 370,194 107 174 578 243 282 103.036 The Charity benefits 9reatly from the involvement and enthusiasknc support tsf a number of volunteets, details of which are given in our annual Feport. In accordance with FRS 102 the economic contribution of volunteers is not recoanised In U)e financial sratements. 14
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 Charitable Activities 2021 2020 Faality fees - pMiseS lettings Fees for weddings. funerJls arbd memorrals Insurance cloitRs 3,956 5,192 2,857 1,379 Other Trading Activities 2021 2020 Car parking income Fund raising event5 etc. Café, coffee shop and stalls Incorne from hone mast 13,848 390 13,775 561 1,463 Investment Income 2021 2020 Dividends Interest Incorne from investment prOrtY 1,492 968 848 Expenditure on Raising Funds 2021 2020 Café coffee sho and stall o(xls 347 972 15
The Parish of Leeds City PCC Notes to the Financlal Statements For the year ended 31 December 2021 Expenditure 2021 2020 l)irert Charitable expertditure: Clergy expenses Perish Share Altrr requisites, vestments and service costs staff costs Insurances Rent Gas and elertrictty Water rates Telephone and internet Repairs and maintenance Caretaker's accommodation Displays, exhibitions and fees Choir and music costs Structural repai Holy Trinity Investment trdnsfer Legal and Professional Service fees Investment propety costs Depreciatio Independent examination Accountancy Administration Sundry costs Refuse and hygiene Photoco Total tharttable ex 1.523 90,679 1,052 82,369 22,234 8,190 11.370 1,555 1,478 31.020 2,943 1,554 28,971 417,325 27,597 63,493 3,195 24,033 674 1,200 1.750 7.793 5,00(> 1,809 3.328 30,223 1,093 102,675 23,292 8,160 21.564 1.603 1,601 2L.089 3.585 407 26,860 535 2.702 635 I,ioo 1,720 6.931 3,062 nditure 265 482 Exceptional costs: Holy Trinity redevelopment project 93,303 93,303 807,565 807,565 Transactions with PCC Members and Connerted Persons Apart from rhe clergy expenses (referred to in Note 81 no member5 of the PCC ceiVed any reimbursements of expenses or remuneration 12020- £nill. io. Tangible Fixed Assets Land 2nd Equipment buildings Totsl Cost or valuation: At l Janua 2021 and 31 Deomber 2021 180 000 225 592 Depreciation: At l Jariuary 2021 Charge in the year At 21 DeceThber 2021 43,532 674 45,532 674 Net Book Values- At 31 December 2021 At 31 December 2020 180 000 180 000 181 386 182 060 16
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 Tangible Yjxed Assets (continued) In November 2015 a lease for 150 years was signed between The Leeds Diocesan Board of Finance, The PCC of Leeds Ciry Ministry Team, the 8ishop of Leeds and Yelcon Ltd in respect of the land and buildings within the St Peterfs precinrt. The rent payable under the terms of the lease is a peppercorn per year. The land and buildings within the St Petees preanct, incluoes a flat used by the cataker and owned by the charity and has beer valued by the Trustees at £180.000. The trustees believe there Is no change to this valuation in the year. The site of the Holy Trinty church includes a d)urth hall which is an integral part of the building. As no separate value can be attributed to the hall, it is tated as consecrated and beneficed property which is exclude*J from the finartoal statements in accordan with the accounting policy. ii. Investment property Leasehold land and buildings Cost or valuation: At l Janua 2021 an¢J 31 December 2021 595 000 Net Book Values: At 31 December 2021 At 31 Decernber 2020 595 000 The land and buildings within the St Peterfs precinrt includes Offi space tswned by the charity and let out to commercial tenants and 11 flats which have been gtznted a lease of 125 years with a ground rent being paid to the charity- The valuation of the property has been reviewed by the Trustees and revalued based on experted income streams and current prevailing tnarket conditions. Investment propety has a historical cost of £575.000 {2020= £575,000). 17
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 12. Investments maet Value at Gain during 31 Dec the year 2020 Market Value at 31 Dec 2021 Restrirted Unrestricted ui Historical Cost Disposal Church Fund: St Peterfs Church fund.. renènts CBF VF 576 units CBF IIF 188 vnits Bimingham Corp 11,801 3.852 1,688 551 13,489 4,403 5,832 1,805 337.5 3.5% Hull Cor 175 234 {175) 234 409 360.80 st Mary the Wirgin: Maintenance Fund - CBF VF 1318 units Cholr Fund: CBF I/F - 174 Units CBF IIF- 120 Units 3,565 510 912 1.422 4,075 2.355 Holy Trinity: Music C8F VF 602 units PCC - CBF IIF 385 un$ Thorp Nussey-CBF IIF 285 Units 12,333 7,888 112,333) 17.8881 Total investments: Unresiritted Restritted 23.950 56.242 3,151 4,373 {8.2971 {19.299) 17,892 42,228 7,637 5,137 Total L(sted investments have a historical cost of £L2,774 (2020= £20.676). 13. Debtors 2021 2020 Trade debtor5 Other debtors and accnjed income 15,612 12,501 14. Creditors: Amounts Falling Due Wlthln One Year 2021 2020 Trade Creditors Accruals 29,538 18
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 16. Movement in Funds {<ontinued) Purpose of restricted funds (continued) Choir- geneTrl - funds for the use of the d)oir. Choir Choral Stholarships scharShIpS. funds from a legy received in 2019 given specifically for Cho] Holy Trinity - Project fund5 speofically gtven for the current redeveloptnent pwject. The Holy Trinity Projert fund shows a <Seficit in the sum of £18,578. Funds held by the Diocese in the name of Holy Trinity and identified as Restricted or Uiirestricted We Intended to be drawn down to clear thi5 deficit. When an attempt to effect this draw down was made, it was found that the records held by the Diotese ¢Yid not agree with the way that these fvnds had been historically Identified the accounts of the Parish of Leeds City over many year5. A number of Permanent Endowments were identified as well as inconsistenties as to which churches within the Pansh they pertained. When Holy Trinity wa5 traTr5feff into the Parish of Leeds St George, a55ets and liabilities pertaining to tt were also transferred. Work will be undertaken during 2022 in order to regularise the correct sratus and benefiaaries of the variou5 funds and to t501ve the end of project deficit 155ue. Holy Trinty - Tower, General and Redevelopment- Funds hstorically set aside for Holy Trinity- St Mary's funds hel(r in the CBF Church of England Investment Fund for the maintenance of St Mary's Church. For the year ended 31 December 2020 Balance l January Income Expenditure 2020 Net gains Balance on 31 December investments 2020 Unrestricted funds: Church funds Holy TNnity 787,765 153,370 21,260 6,619 (139,3291 113.3561 1,008 508 802,814 15,031 Total Unrestricted funds Restricted funds: St Peterfs.. Parish Attivities Choir- gene1 Choir- Choral Scholarships Other churches: Holy Trinity: Project Tower General and music Redevelopment St Mary's Repairs Totsl Restricted fund5 820 978 161 198 152 685 831 007 fJO,504 41,431 150.0041 157,297} {6,468) 10,50Q 42.173 78,520 57.399 84.988 404.922 477.368 2,471 22,666 168 {807,565) 74,725 2.471 24,096 168 27.Q02 259,655 1,430 25.265 597,879 579,303 1,737 3,807 {921,334} Total funds 1418 857 740 501 1 074 019 1 090 662 20
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 17. Employee Information staff costs in the year arnounted to: 2021 2020 Wages and salaries Soci81 security costs Pension costs Redundan cost Total The avetsge number of employees during the year analysed by tunction was as follows- 77.7S9 2.936 1,674 94,755 3,861 2.296 102 675 2021 2020 Ministry Administration Total No employee earned £60,000 per annum or more durtng the year12020-nonel. The chartty considers its key management personnel to be the Canon Sam Corley. Canon Sam received no remuneration fr(>tn the Charity but was paid by the Diocese of L$ as Rector Designate. Tre charity makes arrangements for a defined contribubon pension for it empltsyee5. The cost of the pension scheme to the charity for the year ended 31 December 2021 was £1,674 12020- £2,296). There were no amounts outsianding at the year end {2020= £nill. 18. Commitments under Operating Leases At 31 December 2021 the PCC had totsl commitrnents under non-eancdlable operating leases as follows: Office Equipment 2021 2020 Expiry date: Within one year Bet¥veen one and fjve 1,648 1,648 ears 4,944 19. Net Cash {used in) Operating Actlvltles 2021 2020 Net movement in funds (Gain51 OTr fixed a55et investments Depreciation charge Income from investments Decrease in debtors (Decrease) / Incwse in cltorS (104,6141 17.524} 674 (72,125} 4,446 {33.2591 (212,4021 (328,1951 15,3231 635 (32.8871 6,638 59,939 (299,193) 20. CapKtal Commitments There were no captsl commitments at the year end. At 31 December 2020 the charity had capital commitfflents authorised and conirdcted in respert of the development at Holy Trinity of £19,190. 21
The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2021 21. Comparative Ststement of Anandal Activities for the year ended 31 Dember 2020 Unrestricted Restricted Funds Funds 3020 Total Funds Inrome from: Donations and legacies Charitable attivities Other trading activities Investments Total income 103,036 3.526 21,749 578,243 710 350 681,279 4,236 22,099 161 198 579 303 740 501 Expenditure on: Raising funds Charitable activities Hol Trini Total ex enditure Net incorne / (expeThditure) before other reco nised ains 972 151.713 972 265,482 807 454 1 074 019 113,769 807 565 921 334 152 685 8,513 (342,0311 1333.5181 Other recognised gains Realised ènd unrealised gains on inve#rnents Net movement in funds 1.516 3.807 (338,224) 5,323 {328.195) 10,029 Reconciliation of funds: Total funds brou ht fonmard Total funds carried fonvaT¢I 820 978 831 007 597 879 259 655 1418 857 1 090 662 22. Related party disdosures There are no related party transactions which require disck)sure. 22