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2025-12-31-accounts

Charity number: 1135593

The Parish of Leeds City PCC

For the year ended 31 December 2025

The Parish of Leeds City PCC

Contents

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Statement of Financial Activities........................................................... 8
Balance Sheet.................................................................................... 9
Statement of Cash Flows..................................................................... 10
Notes to the Financial Statements......................................................... 11

1

Parish of Leeds City PCC

st December 2025

The Trustees present their annual report and financial statements for the year to 31 December 2025

These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1[st] January 2019) as detailed in the accounting policies.

Reference and Administrative Details

The Parish of Leeds City comprises the parish church of St Peter-at-Leeds (Leeds Minster). The redundant church of St John the Evangelist, New Briggate is located in the parish and is in the care of the Churches Conservation Trust. Parish of Leeds City is in the Archdeaconry of Leeds, which itself is co-terminus with the Leeds Episcopal Area, part of the Diocese of Leeds in the Province of York within the Church of England.

The correspondence address is Kirkgate, Leeds, LS2 7DJ. The charity registration number is 1135593.

PCC members who served from January 2025 until the date of this report was approved are:

Rector: (PCC Chair)
Lecturer: (Resigned 31stMay 2025)
Assistant Curates:
Licensed Lay Ministers: Kay Brown (Vice
Chair of PCC)
Sarah Maybury
Nathan Booker
Church wardens: Philip Lancaster (Elected 11thMay 2025)
Chikwado Nnorom (Approved by PCC 13thMay 2025)
Deanery Synod Kay Brown (Elected 14thMay 2023 for 3 years)
Representatives: Nathan Booker (Elected 19thSeptember 2023 for 3 years)
Sarah Maybury (Elected 19thSeptember 2023 for 3 years)
Elected members: Lesley Allsopp (Elected 14thMay 2023 for 3 years)
Suzanne Barraclough
Victoria Booker (Co-opted 13thMay 2025)
Arthur Boreham (Resigned 13thMay 2025)
Quentin Brown (Elected 21stApril 2024 for 2 years)
David Dredge (Elected 21stApril 2024 for 4 years)
Alison Elgie-Heaton (Elected 21stApril 2024 for 4 years)
Lesley Enoch (Elected 14thMay 2023 for 3 years)
Beryl Lee (Resigned 13thMay 2025)
Diane Maloney (Elected 14thMay 2023 for 3 years)
Trevor Parker (Elected 11thMay 2025 for 2 years)
Michael Pawson (Elected 14thMay 2023 for 3 years)
Linda Sato (Elected 14thMay 2023 for 3 years)
Daniel So (Elected 21stApril 2024 for 4 years)
Christopher Webster (Elected 11thMay 2025 for 3 years)

On 31[st] December 2025 there were no vacancies on the PCC

Will Lewis (appointed 16[[th]] September 2024) David Dredge (appointed 30[[th]] April 2024)

PCC Secretary: Will Lewis (appointed 16[[th]] September 2024) PCC Treasurer: David Dredge (appointed 30[[th]] April 2024) Principal Bankers: CAF Bank Ltd, 25 Kings Hill Ave, Kings Hill, West Malling Kent, ME19 4JQ Independent Examiner: Jessica Lawrence FCA, CTA, Azets Audit Services Ltd, 12 King St, Leeds, LS1 2HL

2

The Parish of Leeds City PCC

5

Structure, Governance and Management

operates under the Parochial Church Council Powers Measure. The PCC is a registered charity (Registration Number: 1135593). The method of appointment of PCC members is set out in the Church Representation Rules. All Church attendees are encouraged to register on the Electoral Roll and stand for election to the PCC.

Statement of PCC members' responsibilities in respect of the Financial Statements

The PCC members are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. The financial statements are required by law to give a true and fair view of the state of affairs of the Church and of the income and expenditure for that period.

In preparing these financial statements, the Trustees are required to:

The PCC members are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Church and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Church Accounting Regulations 2006. They have general responsibility for taking such steps as are reasonably open to them to safeguard the assets of the Church and to prevent and detect fraud and other irregularities.

Objectives and Activities

Leeds City PCC has the responsibility of co-operating with the Rector of Leeds 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

reviewing the aims and objectives of the charity, and in planning future activities, the Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission.

Fundraising

We strive to achieve the highest fundraising standards and we value our supportive funders. We stay up to date with developments in charity regulation, data protection and the Fundraising Preference Service (FPS) to make sure we are legally compliant and a Code of Practice. No complaints regarding our fundraising activities have been received in the year. During the year, we engaged the services of The Good Fundraising Company Ltd in order to develop a Fundraising review and Strategy proposals from January 2025.

Achievements and Performance

Key events in the past 12 months:

2025 has been another year of growth in most areas bringing financial and organisational consolidation and development.

Our pattern of regular services increased to six from five during the year as we added a Tuesday Midday Eucharist. Thus more people are attending worship at the Minster than previously. As usual we hosted many special services, sometimes in collaboration with external organisations and we were pleased to welcome Bishop Nick, prior to his retirement, and Bishop Arun at Easter and Christmas. We were grateful to other visiting clergy who preached and helped lead services.

The PCC confirmed its commitment to work with its six Ministry Teams overseeing Worship & Music, Pastoral & Discipleship, Families & Children, Buildings & Grounds, Finance and Communication respectively.

3

The Parish of Leeds City PCC

5

Achievements and Performance (continued)

The number of events hosted in the building has increased again this year and we are extremely grateful to Wendy Bloom who was our volunteer Bookings Administrator until she had to finish during the year. Ian Jones took over towards the end of the year. This has become an important income stream for the PCC. Our partnership working with Lighthouse has consolidated during the year and we are pleased to host their therapeutic group, the Sunday afternoon Ukrainian and Honk Kong Groups. The building is now in use, on average, over 75 hours a week and open to the public 18 hours a week. We would like to be open to the public for longer hours and will be seeking to build the team of volunteers to enable this to happen. We are indebted to those who volunteer regularly and occasionally, including retired clergy acting as Chaplains and leading Midday prayer.

We are pleased to occasionally offer clergy support to other parishes on Sundays and during the week when requested and offer a Saturday morning monthly meditation which is accessed by an average of 18 people, often from other churches.

The Minster continues to play an important representational and civic role in the city and we are part of multiple networks within both the charity sector and the faith sector in particular.

As part of the Major Churches Network we attended their biannual conference in the North-East during the year and continue to host the Northern Regional meetings.

The year ended with some wonderful music from the choir; wonderful ringing of the bells and saw a growth in attendance at all our Christmas Services.

Finance:

The established finance routines have continued throughout 2025 maintaining the stability achieved over previous years. Sustainability was the watchword for 2025 and it became clear that the current method of working would not be adequate to achieve this objective. The role of Treasurer has grown beyond what can be reasonably expected of a volunteer, encompassing book-keeping and wider administrative roles in addition to its core responsibilities of leading financial oversight, reporting and strategic policy functions. It has also remained too dependent upon individuals. The budget for 2026 includes an allowance for the employment of both an Operations Manger and a Book-keeper. The PCC Finance Ministry Team has made tentative steps to define its role but has as yet had little chance to management within the PCC.

Broadly speaking, overall income is below the prior year, but as in previous years, Planned Giving remains static and thus reduced in terms of spending power when inflation corrected. A legacy in the sum of £30,000 received during the year artificially distorts the income figure. The PCC designates legacy income so as to provide matched funding for externally assisted capital projects rather than relying upon it as regular income. A £20,000 donation in 2025 Choir funding) mirrors two large unrestricted donations received in 2024. When these exceptional items are taken into account, an underlying downward trend in Donations is still evident.

Income from Venue hire has increased significantly by over £40,000 but this is offset by the associated costs of £27,589. This income stream has reached what can be described as saturation point from the point of view of organisational/staffing capacity and avoidance of compromising the primary purpose of the building.

Legal and Professional costs have risen exceptionally because of fees incurred with the marketing of our long vacant office suite in St Peters Hall. A ten year lease was negotiated but will not deliver income until April 2026. The cost of the Fundraising Strategy consultation was the other reason for this exceptional increase.

Work was begun during the year to simplify the historic agglomeration of semi-dormant funds generating minimal income and merely sitting on the accounts. The Charities Act 2022 (which came into force in March 2024) enable us to use small Endowment Funds to fund the purposes which their governing restrictions impose rather than being permanent investments. We will also be seeking to free up the St Mary Repair

4

The Parish of Leeds City PCC

5

Finance (continued)

Fund, releasing £37,376. There is also no reason to retain multiple deposit accounts for different Funds: the accounting software does that for us. In conclusion, the church continues to pay its way and is addressing historic maintenance arrears. While this is good news, there is an inherent danger of taking for granted that we are now secure and that things will continue as they are. Like relationships, churches either move forwards or backwards, they cannot stand still. There are many challenges ahead and while grants are available towards specific objectives, significant specialist input is required to obtain them. The Listed Places of Worship Grant Scheme which enabled us to claim the cost of VAT on repairs and renewals has ceased and the replacement scheme offers only £93M over three years. We have no state subsidies or external income as of right.

Staffing

In terms of clergy we said goodbye to our Lecturer, Jane deGay, who moved to a new, full-time priestly role in the Church of Wales. We are very grateful to Jane for all that she brought as a self-supporting Minister. Our Curate Jo, also self-supporting, reduced her working hours at the hospital and began to volunteer weekly, as a Chaplain, on a Wednesday as well as offering more Sundays.

We continue to be blessed by the Ministry of our Licensed Lay Ministers and continue to support Catherine Warr, now in her second year of training. The team of Licensed Ministers, Lay and Ordained, meet regularly and continue to oversee the monthly under 4 monthly Pride church, hosted at the Minster. Three times a year we facilitate a series of Sunday discipleship groups and this has proved to be a sustainable way of offering opportunities for learning and discussion.

The PCC created a new role for an Assistant Caretaker and employed Ben Schrodel during the year which supports the increased levels of activity in the building and particularly strengthens our support over the weekend.

Leeds Minster

Routine maintenance has been undertaken as an established routine while the Security and Access systems have been enhances to reflect need and technological advances. A serious leak in the heating system in the Lady Chapel which became apparent in March was ultimately settled by the Insurance Company. This also included the cost of consequential damage to the organ as a result of our being without heat for five months. The costs of repair were borne initially by Leeds Minster. Three other claims were made, two of which related to the rental properties. The condition of the (four) boilers continues to be a concern with one having failed and another likely to do so in the medium term. Work is under way to address a long-term solution.

The role of the Rector of Leeds

The Rector continued to play a role in the various charities and trusts of which he was an ex-officio member Minster, the Incorporated Leeds Church Extension Society, The Market Place and the Leeds Church Institute, Episcopal area. He has been chaplain to the Lord Mayor since May.

Safeguarding and Health & Safety

which will be rolled out to all volunteers in 2026. The PCC continues to review its Safeguarding policy and procedures and at almost every meeting has engaged in some collective training and reflection.

New PCC members are required to complete self-declaration forms and to undertake basic (online Diocesan) Safeguarding training. Under the guidance and supervision of our Safeguarding Officer, Kay Brown, sound procedures are in place and vigilance at all levels is maintained. The Rector chairs the Buildings and Grounds Ministry Team which reviews all H&S Policy documents ensuring that the PCC is fulfilling its obligations in this area. We aspire to a zero-accident culture.

5

The Parish of Leeds City PCC

5

Financial Review:

Total receipts on unrestricted funds were £365,714 (2024: £350,032) and are detailed in the financial statements. The largest element is donations and legacies at £128,996 (2024: £169,439). Charitable activities raised total funds of £115,765 (2024: £73,961) and other trading activities raised £40,055 (2024: £35,556). Total expenditure from the unrestricted funds was £346,119 (2024: £283,263) again detailed in the financial statements, to give a net result for the year on unrestricted funds of a surplus in the sum of £19,595 (2024: £7,946 surplus) before taking into account losses on investment revaluations of £14,863 (2024: £88,171 surplus). Our 2025 Parish Share was paid in full as has been the case from 2019.

Total funds at 31 December 2025 were £1,121,753 (2024: £1,111,523) of which £990,633 (2024: £984,379) were unrestricted. The restricted funds at 31 December 2025 were £123,754 (2024: £119,538) and Endowment Funds amounted to £7,366 (2024: £7,606).

Going Concern:

The trustees have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources are available to enable the charity to continue in operational existence for the foreseeable future and have adequate contingency plans in the event that income streams are reduced. The charity still has reserves sufficient to meet its immediate requirements. Consequently, the financial statements have been prepared on the basis that the charity is a going concern.

Reserves Policy:

unrestricted payments (to include paying the Diocesan Parish Share in full) and to cover emergency situations that may arise from time to time. At 31 December 2025 this requirement was approximately £87,007. The balance of £110,841 (2024: £103,555) on Unrestricted and Designated funds held in net current assets at the year-end is above this target. It should be noted however that of this balance, £71,813 has been designated by the PCC to provide matched funding for projects to be undertaken during the coming five years and beyond. The available Unrestricted Free Reserves are therefore technically £38,133 (2024 £23,179) which without drawing down Designated Funds is below the policy requirement without compromising the designation. Free Reserves remain a recognised concern, but plans are in place to address the problem. Promotion of a giving culture is a key feature of this strategy. The PCC has approved a deficit budget for 2026 which includes both development of existing income streams and the implementation of a fundraising strategy developed by our external consultant out of a consultation process undertaken in between January and June 2025. The PCC recognises the need to look for return on equity and is confident that these measures are adequate to mitigate unforeseen events.

Approved by the PCC and signed on its behalf by:

Rector and PCC Chair

Date

6

The Parish of Leeds City PCC

Leeds City PCC

I report to the trustees on my examination of the financial statements of the Parish of Leeds City PCC for the year ended 31 December 2025. This report is made solely to the charity's trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the charity's trustees those matters 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 independent examination work, for this report, 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 the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

report and for no other purpose. To the fullest extent permitted as a body for my examination work, for this report, or for the statements I have made.

section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material 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 Trust as required by section 130 of the Act; or 2. the financial statements do not accord with those records; or

  2. the financial statements do not comply with the applicable requirements concerning the form and

content of financial statements 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 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 financial statements to be reached.

Jessica Lawrence FCA CTA

Date

Azets Audit Services Ltd, 12 King St, Leeds, LS1 2HL

7

The Parish of Leeds City PCC Statement of Financial Activities For the year ended 31 December 2025

Note
Income from:
Donations & legacies
3
Charitable activities
4
Other trading
5
Investments
6
Other income
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Other expenditure
10
Total
expenditure
Net income /
(expenditure)
before other
recognised gains
Gains/(losses)
on investments
15,16
Transfers
between funds
20
Other recognised
gains
Gain on
revaluation of fixed
assets
14
Net movement in
funds
Reconciliation of
funds:
Total funds
b/fwd
19,20
Total funds
c/fwd
19,20		 Unrestricted
Funds
Restricted
Funds
Endowment
funds
2025 Total
Funds
2024 Total
Funds
£
£
£
£
£
128,996
76,276
-
205,272
169,439
115,765
3,588
-
119,353
73,961
40,055
1,914
-
41,969
35,556
56,586
3,795
48
60,429
51,643
24,312
6,389
-
30,701
19,433
365,714
91,962
48
457,724
350,032
48,223
5,728
-
53,951
18,765
272,827
64,660
-
337,487
319,919
25,071
16,123
-
41,194
26,526
346,121
86,511
-
432,632
365,210
19,593
5,451
48
25,092
(15,178)
(33,022)
(1,553)
(288)
(34,863)
49,201
(318)
318
-
-
-
20,000
-
-
20,000
40,000
6,253
4,216
(240)
10,229
74,023
984,379
119,538
7,606
1,111,523
1,037,500
990,632
123,754
7,366
1,121,752
1,111,523

The notes on pages 12 to 27 form part of these financial statements. There are no recognised gains and losses other than those in the statement of financial activities.

A fully detailed statement of Financial Activities for the year ended 2024 is shown at Note 22.

All the above amounts relate to continuing activities.

8

The Parish of Leeds City PCC Balance Sheet as at 31 December 2025

Note
Fixed Assets
Tangible fixed assets
14
Investment property
15
Investments
16
Current Assets
Debtors
17
Bank
Creditors:amounts
falling due within one
year
18
Net Current Assets
Net Assets
Funds of the charity:
Unrestricted funds
19,20
Restricted funds
19,20
Endowment funds
19,20
Total funds		 2025
2024
£
£
247,921
228,131
610,540
642,674
65,942
68,671
924,403
939,476
58,668
58,271
164,363
157,747
223,031
216,018
(25,682)
(43,971)
197,349
172,047
1,121,752
1,111,523
990,635
984,379
123,751
119,538
7,366
7,606
1,121,752
1,111,523

Approved by the Parochial Church Council and signed on its behalf by:

Rector and PCC Chair,

Date

The notes on pages 12 to 27 form part of these financial statements.

9

The Parish of Leeds City PCC

Statement of Cash Flows for the Year Ended 31 December 2025

Note 2025 2024
£ £
Cash flows from operating activities:
Net cash used in/(provided by)operatingactivities 21 (38,296) (74,877)
Cash flows from investing activities:
Proceeds from disposal of investments - -
Purchase of fixed assets (15,517) (2,256)
Investment income 60,429 51,643
Net cashprovided by investing activities 44,912 49,387
Change in cash and cash equivalents 6,616 (25,490)
Cash and cash equivalents at the beginningof theyear 157,747 183,237
Cash and cash equivalents at the end of theyear 164,363 157,747

10

The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2025

1. Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Charity Information

The Parish of Leeds City PCC is a charity registered in England and Wales (charity registration number is 1135593). The correspondence address is Leeds Minster, Kirkgate, Leeds LS2 7DJ.

Basis of preparation

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

The Parish of Leeds City PCC meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements have been prepared under the historical cost convention except for the valuation of investment assets, which are shown at market value. The financial statements include all transactions, assets and liabilities for which the PCC is liable in law. They do not include the financial statements of church groups that owe their affiliation to another body, nor those that are informal gatherings of church members. The financial statements have been prepared in pound sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1.

Going concern

The Trustees have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. The trustees have a reasonable expectation that adequate financial resources are available to enable the charity to continue in operational existence for the foreseeable future, and have adequate 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

Income represents all resources which become available to the charity but excludes gains on investments. Grants, donations and legacies and associated gift aid are recognised when the charity becomes entitled to receive the funds, when it is probable that the funds will be received and that they can be measured with sufficient reliability. Investment income is recognised on an accruals basis and comprises of dividends declared and interest receivable during the accounting period and rents from investment properties which are included when they are receivable by the charity.

Expenditure

Grants and donations are accounted for when paid over or awarded. The diocesan parish share is accounted for when paid. Amounts received specifically for mission are dealt with as restricted funds. All other expenditure is recognised when incurred and accounted for gross.

Staff Costs

The costs of short term employee benefits are recognised as a liability and an expense where settlement of obligations does not fall within the same period.

Pension Costs The charity has made arrangements for a defined contribution scheme for the members of staff. The assets of the scheme are held separately from those of the charity. Pension costs charged in the Statement of Financial Activities represent contributions payable by the charity in the year.

11

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

Accounting Policies (Continued)

Operating Leases

Rentals applicable in respect of operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account as incurred.

Funds

Endowment Funds: represent donations, the capital of which must be maintained; only the income arising set upon the purpose for which the endowment was established.

Restricted Funds: represent donations or grants received for a specific object 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 forward as a balance on that fund.

Unrestricted funds: represent general funds which can be used for PCC ordinary purposes.

Tangible fixed assets

Consecrated land and buildings and moveable church furnishings

Consecrated and beneficed property is not included in the financial statements in accordance with s.10 (2)(a) and (c) of the Charities Act 2011.

Other land and buildings

The charity owns the flat occupied by the Caretaker, which is included at a valuation arrived at by the PCC. No depreciation is charged against the flat and the carrying value will be reviewed annually.

Other equipment

Equipment used within church premises and offices is depreciated on a straight-line basis over 4 years. Individual items of equipment with a purchase price of £1,500 or less are written off in the period in which the asset is acquired.

Investments

Investment properties are properties held to earn rentals and/or for capital appreciation, are measured using the fair value model and are stated at their fair value which is estimated based on future cash flow expectations and the current market conditions at the reporting date. The surplus or deficit on revaluation is recognised in the SOFA.

Other listed investments are held to generate returns and gains for the charity and accordingly are -valued at each period end to its fair value, as determined by reference to quoted market prices and values determined by independent fund managers, with any gains or losses going through the SOFA.

Financial instruments

Cash at bank and in hand

Cash at investments and cash in hand includes cash and short term highly liquid investments with a short maturity held for working capital. Bank overdrafts are shown within borrowing in current liabilities.

Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

12

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

Accounting Policies (Continued)

Creditors , loans and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors, loans and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. Critical Accounting Estimates and Judgements estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The following estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities:

Investment property valuations: Investment properties are included in the financial statements at fair value. The valuations are Trustees valuations and are based on current market conditions, prevailing values and expected future cash flows from the properties.

3. Donations and Legacies
Current year 2025 2025 2025
Unrestricted Restricted Total
Funds Funds
£ £ £
Donations:
Planned giving 43,145 938 44,083
Tax recoverable 11,700 369 12,069
Offertory Box (Cash donations) 10,482 - 10,482
Legacies 30,000 1,000 31,000
Other donations 9,932 23,752 33,684
Total: Donations 105,259 26,059 131,318
Grants:
Leeds City Council 18,000 - 18,000
Leeds City Council (MICE Grants) 100 - 100
The Friends of the Music of Leeds Minster - 21,199 21,199
Piling Trust - 7,500 7,500
Harrisons Charity - 8,100 8,100
Liz and Terry Bramall Foundation - 11,000 11,000
Leeds Church Extension Society - - -
Voluntary Action Leeds (St Lukes Cares) 950 - 950
LPOW Grant Scheme 4,687 2,418 7,105
Total: Grants 23,737 50,217 73,954
Total 128,996 76,276 205,272

13

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2024

Donations (Continued)

Prior year 2024 2024 2024
Unrestricted Restricted Total
Funds Funds
restated
£ £ £
Donations:
Planned giving 43,785 932 44,717
Tax recoverable 12,305 725 13,030
Offertory Box (Cash donations) 9,956 237 10,193
Legacies 10,000 - 10,000
Other donations 21,792 9,698 31,490
Total: Donations 97,838 11,592 109,430
Grants:
Leeds City Council 18,000 - 18,000
Piling Trust 250 74 324
Harrisons Charity - 7,500 7,500
Liz and Terry Bramall Foundation - 11,500 11,500
Wellsprings together - 5,600 5,600
Leeds Church Extension Society 6,000 6,000
Voluntary Action Leeds (St Lukes Cares) 1,900 - 1,900
Friends of the Music of Leeds Minster - - -
LPOW Grant Scheme 8,908 277 9,185
Total: Grants 29,058 30,951 60,009
Total: 126,896 42,543 169,439

The Charity benefits greatly from the involvement and enthusiastic support of a significant number of volunteers, details of which are given in our annual report. In accordance with FRS 102 the economic contribution of volunteers is not recognised in the financial statements.

4. Charitable Activities 2025 2025 2025
Current year Unrestricted Restricted Total
£ £ £
Venue hire/premises lettings 102,864 - 102,864
Fees 12,901 - 12,901
Organ Recital income - 3,588 3,588
115,765 3,588 119,353
Charitable Activities 2024 2024 2024
Prior year Unrestricted Restricted Total
£ £ £
Venue hire/premises lettings 60,802 - 60,802
Fees 7,070 2,607 9,677
Organ Recital income - 3,482 3,482
67,872 6,089 73,961

14

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2024

5. Other Trading activities
Current year
2025
Unrestricted
2025
Restricted
2025 Total
£
£
£
Car parking
24,201
-
24,201
Fundraising
-
-
-
Hospitality
5,697
886
6,583
Event Hospitality
9,235
-
9,235
Shop sales
922
1,028
1,950
Royalties
-
-
40,055
1,914
41,969
Prior year
2024
Unrestricted
2024
Restricted
2024 Total
£
£
£
Car parking
24,330
-
24,330
Fundraising
402
-
402
Hospitality
8,570
512
9,082
Shop sales
1,680
-
1,680
Royalties
62
-
62
35,044
512
35,556
6. Investment income
Current year
2025
Unrestricted
2025
Restricted
2025
Endowment
2025
Total
£
£
£
£
Dividends
4,013
2,248
48
6,309
Interest
1,037
1,547
-
2,584
Investmentpropertyincome
51,536
-
-
51,536
56,586
3,795
48
60,429
Prior year
2024
Unrestricted
2024
Restricted
2024
Endowment
2024
Total
£
£
£
Dividends
3,548
3,739
-
7,287
Interest
1,324
740
-
2,064
Investmentpropertyincome
42,292
-
-
42,292
47,164
4,479
-
51,643

15

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

7. Other income
Current year
2025
Unrestricted
2025
Restricted
2025
Total
£
£
£
Other Income
651
5,835
6,486
Insurance claims
7,921
554
8,475
Rent Deposit
5,650
-
5,650
Rentalpropertyinsurance recovered
10,090
-
10,090
24,312
6,389
30,701
Prior year
2024
Unrestricted
2024
Restricted
2024
Total
£
£
£
Other Income
2,285
5,200
7,485
Insurance claims
3,491
-
3,491
Rentalpropertyinsurance recovered
8,457
-
8,457
14,233
5,200
19,433
8. Expenditure on raising funds
Current year
2025
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
£
£
£
Hospitality costs
4,948
404
5,352
Shop costs
531
3,900
4,431
Event costs
27,589
1,424
29,013
Car Park costs
4,147
-
4,147
Rental Property Service charge
7,833
-
7,833
Rentalpropertyrepairs
3,175
-
3,175
48,223
5,728
53,951
Prior year
2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
£
£
£
Hospitality costs
2,291
12
2,303
Shop costs
1,053
-
1,053
Event costs
7,097
1,094
8,191
Rental Property Service charge
4,388
-
4,388
Rentalpropertyrepairs
2,830
-
2,830
17,659
1,106
18,765

16

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

9.
Expenditure		 2025 2025 2025
Current year Unrestricted Restricted Total
funds funds funds
£ £ £
Direct charitable expenditure:
Clergy expenses 762 3,042 3,804
Parish Share 55,452 - 55,452
Service costs 2,805 4,047 6,852
Missional giving 7,303 - 7,303
Staff costs 73,485 7,019 80,504
Insurance 25,529 - 25,529
Gas 19,163 - 19,163
Electricity 11,380 - 11,380
Water 1,920 - 1,920
Telephone and internet 1,993 648 2,641
Repairs and maintenance 10,583 6,010 16,593
Choir and music costs 2,067 42,092 44,159
Structural repairs 8,914 - 8,914
Legal and Professional 27,849 - 27,849
Independent examination 3,900 - 3,900
Prior year IE under accrual 600 - 600
Administration 12,830 607 13,437
Refuse and hygiene 2,068 180 2,248
Health & Safety 472 1,015 1,487
Photocopying 3,752 - 3,752
Total charitable expenditure 272,827 64,660 337,487

17

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

9.
Expenditure (continued)		 2024 2024 2024 2024
Prior year Unrestricted Restricted Total
funds funds funds
£ £ £
Direct charitable expenditure:
Clergy expenses 503 2,007 2,510
Parish Share 64,862 - 64,862
Service costs 3,060 1,963 5,023
Missional giving - - -
Staff costs 30,956 22,345 53,301
Insurance 23,231 - 23,231
Gas 27,115 - 27,115
Electricity 10,542 - 10,542
Water 755 - 755
Telephone and internet 1,569 - 1,569
Repairs and maintenance 26,844 3,186 30,030
Choir and music costs 1,547 33,821 35,369
Structural repairs 27,917 6,300 34,217
Legal and Professional 9,422 2,000 11,422
Independent examination 3,600 3,600
Administration 8,629 826 9,455
Refuse and hygiene 2,109 - 2,109
Health & Safety 95 75 170
Photocopying 4,640 - 4,640
Total charitable expenditure 247,396 72,523 319,919
10. Other expenditure 2025 2025 2025
Current year Unrestricted Restricted Total
funds funds funds
Depreciation 5,727 10,000 15,727
Rental property: Insurance 10,090 - 10,090
Fees paid over 7,105 65 7,170
Other expenditure 2,149 6,058 8,207
25,071 16,123 41,194
Prior year 2024 2024 2024
Unrestricted Restricted Total
funds funds funds
Depreciation 3,783 - 3,783
Rental property: Insurance 8,457 - 8,457
Fees paid over 1,385 4,081 5,466
Other expenditure 4,583 4,237 8,820
18,208 8,318 26,526

18

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

11. Employee Information

Staff costs in the year amounted to: 2025 2024
£ £
Wages and salaries 78,145 57,337
Social security costs 1,922 150
Pension costs 437 160
Total 80,504 57,647

The average number of employees during the year analysed by function was as follows:

2025 2024
Ministry 2 2
Administration 3 1
Total 5 3

No employee earned £60,000 per annum or more during the year (2024: none).

The charity considers its key management personnel to be the Rector (Rev Canon Paul Maybury, licensed 5[th] September 2022). Canon Paul received no remuneration from the charity but was paid by the Leeds Diocesan Board of Finance.

The charity makes arrangements for a defined contribution pension for its employees. The cost of the pension scheme to the charity for the year ended 31 December 2025 was £437 (2024: £160). There was £161 outstanding at the year-end (2024: £nil).

12. Transactions with PCC Members and Connected Persons

Reimbursements of expenses of £951 (2024: £3,289) were paid to 6 members of the PCC (2024: 3 members).

13. Net Expenditure for the Year

This is stated after charging:

This is stated after charging:
2025 2024
Depreciation 15,727 3,783
Feespaid to the independent examiner 3,250 3,000

19

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

14. Tangible Fixed Assets

Land and buildings Equipment Total
£ £ £
Cost or valuation:
At 1 January 2025 220,000 65,412 285,412
Additions - 15,517 15,517
Revaluation 20,000 - 20,000
At 31 December 2025 240,000 80,929 320,929
Depreciation:
At 1 January 2025 - 57,281 57,281
Charge in the year - 15,727 15,727
At 31 December 2025 - 73,008 73,008
Net Book Values:
At 31 December 2025 240,000 7,922 247,921
At 31 December 2024 220,000 8,131 228,131

In November 2015 a lease for 150 years was signed between The Leeds Diocesan Board of Finance, The PCC of Leeds City Ministry Team, the Bishop of Leeds and Yelcon Ltd in respect of the land and buildings within Under the terms of this lease, it was transferred on 30[th] November 2018 to the Leeds Diocesan Board of Finance acting as Custodian Trustee for the Parochial Church Council of the Ecclesiastical Parish of Leeds City (Leeds Minster).

The land and buildings within the St Peter's precinct, include a flat used by the Caretaker and owned by the charity and has been valued by the Trustees during the year. This valuation has been arrived at by assessing the current market rate for similar properties.

15. Investment property

15. Investment property
Leasehold
land and
buildings
£
Cost or valuation:
At 1 January 2025 642,674
Revaluation (32,134)
At 31 December 2025 610,540
Net Book Values:
At 31 December 2025 610,540
At 31 December 2024 642,674

The land and buildings within the St Peter's precinct includes office space owned by the charity let to commercial tenants and 11 flats which have been granted 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 in the year and revalued based on expected income streams and current prevailing market conditions.

Investment property has a historical cost of £575,000 (2024: £575,000).

20

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

16. Investments

U = Unrestricted U = Unrestricted Market Gains/ Acquisiti Disposals Market Historic
R = Restricted Value at (losses) ons/ value at Cost
E = Endowment 31 Dec during Transfers 31 Dec
C = DBF as Custodian 2024 the year 2025
Trustee
M = Held by the Parish of
Leeds City £ £ £ £ £ £
Church Fund:
Tennant legacy UM
CBF I/F 576 units 22,220 (888) - - 21,333 7,992
Sunday School RC
CBF I/F 188 units 4,346 (174) - - 4,172 1,805
Poor Children Fund
3% Birmingham EC
175 - - - 175 240
EC 313
360.8 235 - - - 235
26,976 (1,062) - - 25,915 10,350
St Mary the Virgin
Maintenance Fund RC
CBF I/F 1318 units 30,476 (1,218) - - 29,258 1,312
Choir Fund:
CBF I/F
174 Units		 RC 4,023 (161) - - 3,862 2,355
Edwin Woodhouse
End. EC 7,196 (288) - - 6,908 1,470
CBF I/F
120 Units
41,695 (1,667) - - 40,028 5,137
Total investments
Unrestricted U 22,220 (888) - - 21,332 7,992
Restricted R 38,845 (1,553) - - 37,292 5,472
Endowment E 7,606 (288) - - 7,318 2,023
Total 68,671 (2,729) - - 65,942 15,487

Listed investments have a historical cost of £15,487 (2024: £18,875).

21

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

17. Debtors

17. Debtors
2025 2024
£ £
Trade debtors 56,961 57,473
Prepayments 1,707 798
58,668 58,271
18. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade Creditors 16,331 4,579
Accruals 9,351 9,070
Deferred Income - 30,322
25,682 43,971

19. Analysis of Net Assets by Fund

Unrestricted Restricted Endowment Total
Current year funds funds funds funds
£ £ £ £
Tangible fixed assets 247,921 - - 247,921
Investment property 610,540 - - 610,540
Investments 21,333 37,292 7,318 65,943
Net current assets 110,841 86,459 48 197,348
990,635 123,751 7,366 1,121,752
Prior year Unrestricted Restricted Endowment Total
funds funds funds Funds
£ £ £ £
Tangible fixed assets 228,131 - - 228,131
Investment Property 642,674 - - 642,674
Investments 10,019 51,046 7,606 68,671
Net current assets 103,555 68,492 - 172,047
984,379 119,538 7,606 1,111,523

22

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

20. Movement in Funds

Current year Current year Current year Balance Income Expenditure Net Transfers Balance
1 January gain/(loss) 31
2025 on December
investments 2025
£ £ £ £ £ £
Unrestricted funds:
General Church funds
904,003		 334,197 (336,038) (13,022) (318) 888,822
Designated funds
80,376		 31,518 (10,080) - - 101,814
Total Unrestricted
funds 984,379 365,715 (346,118) (13,022) (318) 990,636
Restricted funds:
Choir & Music 2,123 9,004 (7,774) (161) (1,813) 1,379
- 20,464 (4,154) - - 16,310
Choir Tours - 5,835 (6,036) - 210 9
Choral Scholarships
45,675		 17,032 (23,106) - - 39,601
Flower fund 1,086 413 (1,110) - 240 629
Harrisons Charity
-		 12,072 (18,825) - 11,802 5,049
Sunday School
4,328		 121 (436) (174) - 3,839
Organ related 14,044 23,176 (21,824) - (6,740) 8,656
Organ Scholarships
-		 58 (276) - 8,420 8,202
Restricted projects
14,249		 3,225 (2,971) - (11,801) 2,702
St Mary repair 38,033 561 - (1,218) - 37,376
Total Restricted funds
119,538		 91,961 (86,512) (1,553) 318 123,752
Endowment funds
Edwin Woodhouse St
7,196		 - (288) - 6,908
Mary Choir
Poor Children fund
410		 48 - 458
Total Endowment
funds 7,606 48 - (288) - 7,366
Total funds 1,111,523 457,723 (432,630) (14,863) - 1,121,753

23

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

20. Movement in Funds (continued)

Purpose of funds

Restricted Funds:

Designated Funds:

24

The Parish of Leeds City PCC Notes to the Financial Statements For the year ended 31 December 2025

20. Movement in Funds (Continued)

Prior year Balance Income Expenditu Net Transfers Balance
1 January re gain/(loss) 31
2024 on December
investment 2024
£ £ s £ £
£ £
Unrestricted funds:
General Church 889,201 290,486 (283,263) 88,171 (80,592) 904,003
funds
Designated funds - 723 - - 79,653 80,376
Total Unrestricted
funds 889,201 291,209 (283,263) 88,171 (939) 984,379
Restricted funds:
Choir & Music 22,440 12,378 (33,724) 90 939 2,123
Choral Scholarships 57,544 9,143 (21,012) - - 45,675
Sunday School 4,165 259 (193) 97 - 4,328
Organ related 9,055 10,838 (5,849) - - 14,044
Flower fund (71) 2,238 (1,081) - - 1,086
Restricted projects 11,051 23,286 (20,088) - - 14,249
St Maryrepair 36,670 681 - 682 38,033
Total Restricted 140,854 58,823 (81,947) 869 939 119,538
funds
Endowment funds
Edwin Woodhouse St 7,035 - - 161 - 7,196
Mary Choir
Poor Children fund 410 - - - - 410
Total Endowment
funds 7,445 - - 161 - 7,606
1,037,500 350,032 (365,210) 88,171 - 1,111,523

21. Net Cash (used in) /provided by Operating Activities

2025 2024
£ £
Net movement in funds 10,230 74,023
(Gains) / Losses on investments 34,863 (49,201)
Revaluation of fixed assets (20,000) (40,000)
Depreciation charge 15,727 3,783
Income from investments (60,429) (51,643)
(Increase)/Decrease in debtors (397) (30,944)
Increase/(Decrease)in creditors (18,290) 19,106
(38,296) (74,877)

25

The Parish of Leeds City PCC

Notes to the Financial Statements For the year ended 31 December 2025

22. Comparative Statement of Financial Activities for the year ended 31 December 2024

Unrestricted Restricted Endowment 2024 Total
Funds Funds Funds Funds
£ £ £ £
Income from:
Donations and legacies 126,896 42,543 - 169,439
Charitable activities 67,872 6,089 - 73,961
Other trading activities 35,044 512 - 35,556
Investment 47,164 4,479 - 51,643
Other income 14,233 5,200 - 19,433
Total income 291,209 58,823 - 350,032
Expenditure on:
Raising funds 17,659 1,106 - 18,765
Charitable activities 247,396 72,523 - 319,919
Other expenditure 18,208 8,318 - 26,526
Total expenditure 283,263 81,947 365,210
Net income /(expenditure)
before other recognised 7,946 (23,124) - (15,178)
gains
Gains on investments 48,171 869 161
Transfers between funds: (939) 939 - -
Other recognised gains
Gain on revaluation of fixed assets
40,000 - - 40,000
Net movement in funds 95,178 (21,316) 161 74,023
Reconciliation of funds:
Total funds b/fwd 889,201 140,854 7,445 1,037,500
Total funds c/fwd 984,379 119,538 7,606 1,111,523

23. Capital Commitments

There were no capital commitments at the current or previous year end.

24. Commitments under Operating Leases

At 31 December 2025 the PCC had total commitments under non-cancellable operating leases as follows:

Office Equipment Office Equipment
2025 2024
£ £
Expiry date:
Within one year 1,827 1,827
Between one and fiveyears - 1,827
1,827 3,654

26

DoGUSign Envelope ID". 036E8132.A35B-86B5-800C-5893AF791F17 27