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← The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St Mary

2023-12-31-accounts

REGISTERED CHARITY NUMBER: 1136055

Report of the Trustees and

Unaudited Financial Statements

For The Year Ended 31 December 2023

for

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Charles A. Wood & Co. Chartered Accountants 15 Prospect Street Bridlington East Yorkshire YO15 2AE

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Contents of the Financial Statements For The Year Ended 31 December 2023

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 23
Detailed Statement of Financial Activities 24 to 25

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Reference and Administrative Details For The Year Ended 31 December 2023

TRUSTEES Revd Neil Bowler - Rector (appointed 27.7.2023)
Revd Christine Strand
Revd Jean Fowler
Paul Koker -Treasurer
Anthony Halford - Sec/C.warden (appointed 17.5.2023)
Helen Hughes - Churchwarden
Yvonne Kurvits - Churchwarden
Judy Brameld
David Watson (appointed 17.5.2023)
Elizabeth Boardman
Ron Broadbent
Brian Goodall
Lynne Koker
Mark Kunz
Margaret Watson
Elaine Broadbent (resigned 17.5.2023)
Allison Saxton (resigned 1.2.2023)
Revd Jeanette Oates (resigned 31.12.2023)
PRINCIPAL ADDRESS The Priory Church Office
Church Green
Bridlington
East Yorkshire
YO16 7JX
REGISTERED CHARITY 1136055
NUMBER
INDEPENDENT EXAMINER Charles A. Wood & Co.
Chartered Accountants
15 Prospect Street
Bridlington
East Yorkshire
YO15 2AE

Page 1

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Report of the Trustees For The Year Ended 31 December 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The Parochial Church Council of the Ecclesiastical Parish of Bridlington St Mary will be referred to hereafter as "the PCC".

The Priory Church of St Mary Bridlington will be referred to hereafter as "Bridlington Priory" or "the Priory".

The Ecclesiastical Parish of Bridlington St Mary will be referred to hereafter as "the Priory parish".

Bridlington Priory is situated in Church Green, Bridlington. It is part of the Diocese of York within the Church of England. The Reverend Neil Bowler was appointed as the incumbent in July 2023, and from January 2023 to July 2023 the Priory was overseen by the churchwardens.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The PCC's primary object is the promotion of the Gospel of our Lord Jesus Christ according to the doctrines and practices of the Church of England. It has the responsibility of co-operating with the incumbent in promoting in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical.

The PCC is specifically responsible for the maintenance of the Priory and the Church Rooms complex at Church Green, Bridlington, YO16 7JX.

The PCC is committed to enable as many people as possible to worship at our church and become part of our parish community at Bridlington Priory. The PCC maintains an overview of worship throughout the parish and makes suggestions on how our services can involve the many groups that live within our parish. Our services and worship put faith into practice through prayer and scripture, music and sacrament.

To facilitate this work it is important that we maintain the fabric of the Priory and the Church Rooms.

Public benefit

The Trustees have complied with the duty in Section 17(5) of the Charities Act 2011 to have regard to the Charity Commission guidance on public benefit in the provision of its activities.

When planning our activities for the year, the incumbent, and the PCC have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enable ordinary people to live out their faith as part of our parish community through:

Volunteers

Apart from the Incumbent and Organist who are paid, the Priory relies on the continued support of its unpaid volunteers. We would like to thank everyone who works so hard to make our church the lively and vibrant community it is.

Page 2

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Report of the Trustees For The Year Ended 31 December 2023

ACHIEVEMENT AND PERFORMANCE Charitable activities

Worship and Prayer

The main event of the year for the Priory Church was the appointment of Revd. Neil Bowler as priest in charge on the 27th July.

Three services are held in the Priory on Sundays; 8:00am Holy Communion (BCP), 10:30am Principal Service, and 6:30pm Evensong. The Principal Service takes the form of Breaking of the Bread (Holy Communion) on the first Sunday of the month, Matins on the third and Celebration of the Eucharist on the second, fourth and fifth where applicable. On the third Sunday the 6:30pm Service is Sung Eucharist. The robed choir and organist make a significant contribution in the English Choral Tradition at the 10:30am and 6:30pm services.

The Principal Service is streamed live on the Friends of Bridlington Priory's Facebook page, a practice begun during Covid lockdown and carried on for the benefit of those unable to attend in person. During 2023 Morning Prayer was said each day at 9am from Monday-Thursday & Saturday.

A Messy Church Service is held once per month on Friday afternoons in the church rooms with an average attendance of 10 adults and 15 children.

Volunteers from the congregation stream prayers on the Facebook page at midday and 6pm each weekday, and the Associate Minister streams a Reflection fortnightly on Sunday afternoons.

As well as our regular services, we enable our community to celebrate and thank God at the milestones of the journey through life. Through baptism we thank God for the gift of life, in marriage public vows are exchanged with God's blessing and through funeral services friends and family express their grief and give thanks for the life which is now complete in this world and to commend the person into God's keeping. We have celebrated 26 baptisms and 6 weddings and our ministry team have officiated at 59 funeral services (28 church & 31 crematorium) this year.

The Priory has a civic role in the life of Bridlington, welcoming the RNLI to the annual Great Gale service in February and holding the Mayor's service in October. In May we held a Songs of Praise for the coronation of King Charles III. In October we had a service of celebration for St. John of Bridlington. Several local schools also used the Priory throughout the year and for their Christmas concerts.

Pastoral Care

The Priory's contribution to the local community is not confined to religious services. We contributed to a defibrillator which was fitted outside the Church Rooms. The Education Department at East Riding of Yorkshire Council continued using the church on some weekdays for one-to-one tuition (from which the Priory received a fee). The Rooms were in almost constant use in weekdays from 9am to 8 or 9pm. The users were local groups with varying levels of attachment to the church, including uniformed youth organisations. Only four groups were charged for hire. The Rooms are therefore part of the Priory's giving to the parish.

Our weekly Luncheon Club continued with the voluntary help of a professional caterer. This has proved very popular over the years especially with elderly and isolated people.

An active Pastoral Care Team continued to meet during the year. Their activities involved regular phone calls to congregation members who could not attend Church, visits and the taking of Home Communion to congregation members, visits to hospital and general pastoral support. This has also been an increase in regular care home services.

Deanery Synod

Two members of the PCC sat on the deanery synod during 2023. This provides the PCC with an important link between the Priory parish and the wider structures of the church. This year the PCC has also focused its attention on the deanery's "Living Christ's Story" initiative which will result in parish boundary changes causing the Priory parish to be enlarged.

Page 3

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Report of the Trustees For The Year Ended 31 December 2023

Mission and Evangelism

Clergy take the Eucharist to local homes. Clergy and lay people also lead services at residential homes and our clergy are closely linked and have very good relationships with all of our local schools, which includes regularly taking assemblies.

Many of the Priory congregation contribute money and time to the Deanery's Hope Housing scheme which provides housing for men who would otherwise be homeless.

A Chat-and-Craft group knits woollen clothing and toys which are blessed in church and donated to local organisations.

Messy Church, mentioned above under Worship and Prayer, is seen as a significant part of the Priory's mission to and with families. A simple tea-time meal is included.

The Choir is growing again. A junior choir has been established. The opportunities for a musical education and experience of religious services as well as involvement in social activities provide a rich experience for young people.

During the year the Priory hosted a number of concerts and open days with refreshments. In June there was the Old Town Summer Fête. In July the Bridlington-based Remarkable Rock choir and musicians packed out the church for Rock the Priory and Schools Rock. In September there was the Heritage Week-end. In December the Advent Fair saw many local craftspeople sell their wares in church. Also in December Carlton Main Frickley Colliery band returned to join the Priory choir for another Brass and Voices concert, there was the Old Town Dickensian Festival and a Christmas Carol dramatic presentation in aid of Hope Housing. The church also hosted several organ recitals.

The Priory was kept open to visitors each week day from 11am to 3pm and on Saturdays from 10am to 12 noon, by a team of volunteer stewards who also staff the Priory gift shop.

While many of these activities raise revenue for the church, they are also designed to promote the Priory as an accessible, attractive, fun and engaging place, and thereby to increase the chance that people who do not usually go to church may find themselves drawn to it.

Fabric (major works)

After a boiler failure in February a long process of faculty application and subsequent purchase and installation of two new gas boilers by Fre-Flo was complete by October. The clock on the Priory Tower was refurbished and regilded.

Investment Property

During the year it was determined that the property that had been included within the financial statements as Investment property was subject to trusts that required the property to be held and used for the education of children in accordance with the principles of the Church of England. It was determined that it was incorrect to include the Investment property as an asset of the PCC and that the control and administration of the Investment property should be conducted by the Trustees of the Investment property (the Rector and the churchwardens).

The Trustees (members of the PCC) have determined that the Investment property should be removed from the Statement of Financial Position by way of a prior period adjustment in order to correctly reflect the assets under their control. The comparative figures included in these financial statements have been re-stated accordingly.

FINANCIAL REVIEW

Financial position

The incoming resources exceeded the outgoing resources during the year by £408,858. In 2023 the charity has been notified of £425,000 from legacies (2022 - £3,624). The Charity has net assets of £1,569,800 of which unrestricted reserves amount to £580,524. Cash at bank and in hand amounted to £512,155 at 31December 2023 (2022 - £270,694).

Principal funding sources

Donations are the main source of funding for the Bridlington Priory.

Page 4

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Report of the Trustees For The Year Ended 31 December 2023

FINANCIAL REVIEW

Reserves policy

The PCC is concerned about the financial costs implicit in holding a building of the age and beauty of the Priory. General liquid Reserves of around 6 months regular expenditure are currently held. It is felt that the current level of reserves held is necessary both in order to keep the Priory in good repair and to make the Priory fit for future purpose while at the same time honouring our commitment to worship and mission. Further funding may be required to update the facilities of the building. The Reserves Policy will be reviewed annually.

At 31 December 2023, the free reserves were £580,524 (2022 - £464,942 as restated).

FUTURE PLANS

Future plans are to provide both refreshment and toilet facilities in church. After the annual meeting a subcommittee of the PCC will be once again formed to progress this initiative.

There will be a 'Giving Campaign' later in the year to encourage regular giving to support the mission and work of the church in Bridlington.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by the Parochial Church Councils (Powers) Measure 1956 as amended and the Church Representation Rules.

Organisational structure

The method of appointment of PCC members is set out in the Church Representation Rules. At Bridlington Priory the membership of the PCC consists of the incumbent, Associate Minister, Deacon, churchwardens, co-opted members and members elected by those members of the congregation who are on the electoral roll of the church. All those who attend our services / members of the congregation are encouraged to register on the Electoral Roll and stand for election to the PCC.

The PCC members are responsible for making decisions on all matters of general concern and importance to the parish including deciding on how the funds of the PCC are to be spent. The full PCC has met 11 times in 2023.

The PCC has three committees which are responsible to the PCC and report back to it with minutes of their deliberations being received by the full PCC and discussed as necessary. They are the:

a. Standing Committee

This consists of the incumbent, churchwardens and secretary and may transact the PCC's business between meetings of the PCC in accordance with the Church Representation Rules Part 9, Rule M31. They are limited to discussing the governance of the church, and making such decisions as implementing legislative requirements and large outlays of money. The Standing Committee is only convened as and when necessary.

b. Operations Committee

This consists of the incumbent, churchwardens and secretary. Its purpose is to discuss practical day-to-day matters which would otherwise take up too much of the full PCC's time. It meets monthly and has a maximum budget of £1,000 per individual item of expenditure.

c. Finance Committee

This consists of the incumbent and treasurer, as well as other trustees who have a particular interest in finance . Its purpose is to discuss the budgets and financial matters which would otherwise take up too much of the full PCC's time.

Induction and training of new trustees

In house training is provided for trustees and volunteers.

Page 5

The Parochial Church Council Of The Ecclesiastieal Parish Of Bridlington St. Mary Report of the Trustees For The Year Ended 31 Deeember 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Risk man&gement The trustees have a duty to identify and Teview the i'isks to whicli the Priory is exposed aiid to ensure appropriate controls are in place to provide I'easonable assurance agyainst fraud aiid ei'i'or. A budget is set by the Finance Coinrniltee aiid approved by the Board of Trustees aiiiiually, thus ensuring 1( n active review of tlie Inajoi. f2nancial risks wliich the charity faces on a regular basis. I'he irustees believe that the maiiiteiiaiice of i-esei'ves at the levels stated in the report and the insurance policies held by thc cliarity have mitigated the charity's exposure to the financial risks. Approved by order of th¢ board of trustees on 17 April 2024 and signed on its behalf by: Revd Neil Bowler - Rector - Trustee Page 6

iidepeiident F.x#miner's Report to the Trustees of The Parochial Church Couiicil Of The Ecclesiastical Parish Of Bridlington St. Mary Indtpeiident examiner'5 report lo the trustees of The Parochial Chureh Council Of The Eeelesiastical Parish Of Bridlington St. Mary I report to the charity trusteeq nn my exainiiiation of the accounts of The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary (the Trust) for tlie year elided 31 December 2023. Responsibilities and b*si5 of report As the charity trustees of the Trust you are respoiisible for the preparation of the accounts in accordance with the requii'ements of the Charities Act 2011 ('the Act,). I report in respect of Iny examination of the Trust's accounts carried out uiider Section 145 of the Act and in canying out Iny exainination I have followed all applicable Dircctions giveii by the Cliarity Commission under Section 145(5)(b) of tlie Act. Independent examiner's St￿tement Since your chai'ity's gross illLonie exceeded £250,000 your examiner must be a meniber of a listed body. I can confirm that l am qualified to undeitake the examination because l ain a meinber of tlie Institute of Chartered Accountants in England and Wales, which is one of the lisled bodies. have completed my examinatioii. I confiiin that no Jnaterial matters have coine to my attention in connection with the examination giving me cause to b¢lieve tl)at iii aiiy Inaterial respect.. accounting records were not kept in respect of tlie Trust as required by Section 130 of the Act. or the accounts do iiul accord with those records. or th¢ accouiits Llu Iiul ¥uiiiply with ihe applicable I'equii'einents concerniiig the form and contei)t of accounts set out in tlie Charities (Accounts aiid Reporis} Re¥ulations 2008 other than any requirement that the accounts give a true and fair view which is not a Inatter considei'ed as parl of an iiidependeiit exainination. I have no concerns and liave coine across no other niatters iii connection wilh the examination to which attention should be drawn in this repoit in oi'dLr to ¢nable a pi'oper understandingy of the accouiits to be reached. A W Ingyham Bsc FCA C.TA The Institute ol. CharlerLd Accoiiiitants iii Eiigyland and Wales Charles A. Wood & Co. Chartered Accountants 15 Prospect Street Bi'idlington East Yorkshire Y015 2AE 17 April 2024 Page 7

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Statement of Financial Activities For The Year Ended 31 December 2023

Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies
2
Other trading activities
3
Investment income
4
Other income
5
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Priory & Church Rooms
Total
Net gains/(losses) on
investments
NET
INCOME/(EXPENDITURE)
Transfers between funds
20
Net movement in funds
RECONCILIATION OF
FUNDS
Total funds brought forward
As previously reported
Prior year adjustment
14
As restated
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
funds
£
226,604
36,623
16,708
30,079
310,014
13,393
181,039
194,432
-
115,582
-
115,582
579,942
(115,000)
464,942
580,524		 Restricted
funds
£
281,780
-
25,803
-
307,583
3,700
42,721
46,421
16,799
277,961
(740)
277,221
558,928
-
558,928
836,149		 Endowment
funds
£
-
-
3,943
-
3,943
-
-
-
11,372
15,315
740
16,055
137,072
-
137,072
153,127		 2023
Total
funds
£
508,384
36,623
46,454
30,079
621,540
17,093
223,760
240,853
28,171
408,858
-
408,858
1,275,942
(115,000)
1,160,942
1,569,800		 2022
Total
funds
as restated
£
96,903
30,918
37,997
34,690
200,508
16,649
181,464
198,113
(85,040)
(82,645)
-
(82,645)
1,243,587
-
1,243,587
1,160,942

The notes form part of these financial statements

Page 8

The Pai'ochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary Balance Sheet 31 December 2023 2023 Total funds 2022 Total funds as restated Unresti'icted funds Restricted funds Endowmeiit funds Notes FIXED ASSETS Tangible assets Iiivestments 15 16 355,477 355,477 537,854 365,622 509,683 395.465 142,389 355,477 395,465 142,3 89 893,331 875.305 CURRENT ASSETS Stocks Debtors Cash at bank 8.614 160,650 88,211 8,614 188.462 512,155 6,431 37,472 270,694 27,810 413,208 10,736 257,475 441.018 10.738 709,231 314,597 CREDITORS Ainounts falling due within one year 19 (32.427) (335) (32,762) (28,960) NET CURRENT ASSETS 22.fj,048 440,683 10,738 676,469 285.637 TOTAL ASSETS LESS CURREIYT LIABILITICS 580.525 836,148 153,127 1,569,800 1,160,942 NET ASSETS 580,525 836,148 153,127 1,569,800 1,160.942 FUNDS Unrestricted funds Restricted funds Endowment funds 20 580,525 836,148 153,127 464,942 558,928 137,072 TOTAL FUNDS 1,569,800 1,160,942 The financial stateinents were approved by the Board of Trustees and authorised for issue on 17 April 2024 and were si%ned on its bchalf by: R¢vd Neil Bowler- Rector - Trustee Paul Koker -Treasurer - Ti-ustee The notes form part of these financial statements Piige 9

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Cash Flow Statement For The Year Ended 31 December 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Net cash used in investing activities
Cash flows from financing activities
Income attributable to endowment
Net cash provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2023
a
£
238,575
238,575
(1,057)
-
(1,057)
3,943
3,943
241,461
270,694
512,155		 2022
s restated
£
344
344
-
(2,481)
(2,481)
9
9
(2,128)
272,822
270,694

The notes form part of these financial statements

Page 10

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Cash Flow Statement For The Year Ended 31 December 2023

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Income attributable to endowment
Increase in stocks
Increase in debtors
Increase in creditors
Net cash provided by operations		 2023
a
£
408,858
11,202
(28,171)
(3,943)
(2,183)
(150,990)
3,802
238,575		 2022
s restated
£
(82,645)
10,853
85,040
(9)
(478)
(21,715)
9,298
344

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£ £ £
Net cash
Cash at bank 270,694 241,461 512,155
270,694 241,461 512,155
Total 270,694 241,461 512,155

The notes form part of these financial statements

Page 11

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements For The Year Ended 31 December 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Charities Act 2011 and in accordance with the Church Accounting Regulations 2006, governing the individual accounts of PCC's.

The financial statements have been prepared under the historical cost convention.

The financial statements include all transactions, assets and liabilities for which the PCC is responsible in law. They do not include the accounts of church groups that owe their main affiliation to another body nor those that are informal gatherings of church members.

Income

Planned giving, collections and donations are recognised when received by the PCC. Income Tax recoverable on gift aid is recognised when the income is recognised. Grants and legacies are accounted for as soon as the PCC is notified of its legal entitlement and the amounts can be measured reliably. Rental income is recognised when the rental is due. Interest and dividends are accounted for when received.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 12

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Parish giving scheme and other planned donations
Income tax recoverable
Freewill offering
Open plate collections
Sundry donations
Legacies
Grants
Income from Votive candle		 2023
a
£
27,827
10,526
12,019
16,618
12,460
425,000
2,209
1,725
508,384		 2022
s restated
£
40,260
11,640
5,327
19,502
5,564
3,624
9,380
1,606
96,903

The PCC administered collections from funerals and other events as agent on behalf of specified nominated third party charities during the year of £5,359 (2022 - £5,940). These collections are banked into the PCC general bank account, before payment is made to the nominated charity. Amounts collected as agent are not reflected in the Statement of Financial Activities.

3. OTHER TRADING ACTIVITIES

Shop income
Coffee
Parish magazine
Church and church hall lettings
Fêtes and bazaars
Concerts and events		 2023
as
£
14,272
1,575
677
5,794
2,957
11,348
36,623		 2022
restated
£
13,713
888
1,106
3,024
3,093
9,094
30,918

4.

INVESTMENT INCOME

Net rental income receivable
Dividends and interest		 2023
as
£
15,000
31,454
46,454		 2022
restated
£
15,677
22,320
37,997

continued...

Page 13

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

5. OTHER INCOME

Wedding and funeral fees
6.
RAISING FUNDS
Raising donations and legacies
Church shop purchases
Cost of freewill offering envelopes
Concerts and events
Stockbroker fees
7.
CHARITABLE ACTIVITIES COSTS
Priory & Church Rooms
8.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Diocesan freewill offering
Clergy housing
Vergers fees
YDBF fees re occasional office
Church insurance
Rooms insurance
Light and heat
Light and heat refund
General repairs
Room repairs
Music and organ tuning
Choir expenses
Upkeep of services
Churchyard upkeep
Sundry expenses
Architect
Website
Recruitment
Cleaning and water rates
Carried forward		 Direct
Costs (see
note 8)
£
215,968		 2023
a
£
30,079
2023
a
£
6,455
-
6,937
3,701
17,093
Support
costs (see
note 9)
£
7,792
2023
a
£
20,650
72,000
396
975
11,775
11,615
1,538
23,721
-
42,160
720
9,252
1,495
-
2,167
4,495
-
453
-
624
204,036		 2022
s restated
£
34,690
2022
s restated
£
6,533
304
6,123
3,689
16,649
Totals
£
223,760
2022
s restated
£
23,036
70,008
152
-
14,458
10,332
1,491
22,502
(21,685)
19,277
5,577
5,544
1,015
2,369
1,820
1,936
3,617
500
999
413
163,361

continued...

Page 14

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

8. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued

Brought forward
Bell ringers
Depreciation
9.
SUPPORT COSTS
Finance
£
Priory & Church Rooms
725
10.
INDEPENDENT EXAMINER
Fee payable to Charles A Wood & Co for carrying out the Independent
examination for 2023 (including VAT)
Payroll service charge paid to Charles A Wood & Co (including VAT)
Fee payable to Mr S Gibson for carrying out the Independent examination
for 2022 (overprovision written back in 2023)		 Brought forward
Bell ringers
Depreciation
9.
SUPPORT COSTS
Finance
£
Priory & Church Rooms
725
10.
INDEPENDENT EXAMINER
Fee payable to Charles A Wood & Co for carrying out the Independent
examination for 2023 (including VAT)
Payroll service charge paid to Charles A Wood & Co (including VAT)
Fee payable to Mr S Gibson for carrying out the Independent examination
for 2022 (overprovision written back in 2023)		 2023
a
£
204,036
730
11,202
215,968
Governance
costs
£
7,067		 2023
a
£
204,036
730
11,202
215,968
Governance
costs
£
7,067		 2023
a
£
204,036
730
11,202
215,968
Governance
costs
£
7,067		 2022
s restated
£
163,361
-
10,853
174,214
Totals
£
7,792		 2022
s restated
£
163,361
-
10,853
174,214
Totals
£
7,792
2023 2022
£ £
2,400 -
180
(50) 950

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

Administrative expenses of £2,914 have been reimbursed to 7 of the trustees.

12. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Organist		 2023
as
£
20,230
420
20,650
2023
as
1		 2022
restated
£
22,610
426
23,036
2022
restated
1

No employees received emoluments in excess of £60,000.

Page 15

continued...

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

12. STAFF COSTS - continued

The Incumbent is remunerated directly by the Diocese of York. No remuneration is included in the Statement of Financial Activities as there is no liability for the PCC.

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Priory & Church Rooms
Total
Net gains/(losses) on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
96,653
30,918
16,906
34,690
179,167
12,960
173,042
186,002
-
(6,835)
(1,699)
(8,534)
473,476
464,942		 Restricted
funds
£
250
-
21,082
-
21,332
3,689
8,422
12,111
(69,272)
(60,051)
1,699
(58,352)
617,280
558,928		 Endowment
funds
£
-
-
9
-
9
-
-
-
(15,768)
(15,759)
-
(15,759)
152,831
137,072		 Total
funds
as restated
£
96,903
30,918
37,997
34,690
200,508
16,649
181,464
198,113
(85,040)
(82,645)
-
(82,645)
1,243,587
1,160,942

Page 16

continued...

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

14. PRIOR YEAR ADJUSTMENT

During the year it was determined that the property that had been included within the financial statements as Investment property was subject to trusts that required the property to be held and used for the education of children in accordance with the principles of the Church of England. It was determined that it was incorrect to include the Investment property as an asset of the PCC and that the control and administration of the Investment property should be conducted by the Trustees of the Investment property (the Rector and the churchwardens).

The Trustees (members of the PCC) have determined that the Investment property should be removed from the Statement of Financial Position by way of a prior period adjustment in order to correctly reflect the assets under their control. The comparative figures included in these financial statements have been re-stated accordingly.

The Trustees of the Investment property have agreed that all the income received in relation to the property prior to 31 December 2023 should be retained by the PCC and that any costs incurred by the PCC would not be refunded.

The overall impact on the financial statements is to reduce the Investment property by £115,000 with an equivalent reduction in the general fund reserves balance.

15. TANGIBLE FIXED ASSETS

COST
At 1 January 2023
Additions
At 31 December 2023
DEPRECIATION
At 1 January 2023
Charge for year
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022		 Freehold
property
£
350,000
-
350,000
-
-
-
350,000
350,000		 Fixtures
and
fittings
£
72,350
-
72,350
56,730
10,853
67,583
4,767
15,620		 Office
equipment
£
7,471
-
7,471
7,469
-
7,469
2
2		 Computer
equipment
£
-
1,057
1,057
-
349
349
708
-		 Totals
£
429,821
1,057
430,878
64,199
11,202
75,401
355,477
365,622

The financial statements do not include the Bridlington Priory as an asset as it belongs to the Church of England. The PCC is responsible for the upkeep and maintenance of the Priory.

continued...

Page 17

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

16. FIXED ASSET INVESTMENTS

MARKET VALUE
At 1 January 2023
Revaluations
At 31 December 2023
NET BOOK VALUE
At 31 December 2023
At 31 December 2022
There were no investment assets outside the UK.
Cost or valuation at 31 December 2023 is represented by:
Valuation in 2023
Valuation in 2022
Cost
17.
STOCKS
Stocks
18.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income
Legacies receivable		 Listed
investments
£
509,683
28,171
537,854
537,854
509,683
Listed
investments
£
28,171
(85,040)
594,723
537,854
2023
2022
as restated
£
£
8,614
6,431
2023
2022
as restated
£
£
5,367
6,026
21,547
31,431
6,548
15
155,000
-
188,462
37,472

continued...

Page 18

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Designated Fund - Sunday
School and Other
Restricted funds
Priory and organ
restoration
Organ
Churchyard
Fabric repairs
Choir & Music Fund
Endowment funds
Restoration Appeal Fund
Graves Maintenance
TOTAL FUNDS		 At 1.1.23
£
557,014
22,928
579,942
525,940
12,554
4,034
16,400
-
558,928
137,072
-
137,072
1,275,942		 Prior
year
adjustment
£
(115,000)
-
(115,000)
-
-
-
-
-
-
-
-
-
(115,000)		 Net
movement
in funds
£
115,583
-
115,583
297,586
(3,119)
(2,107)
(16,400)
2,000
277,960
15,301
14
15,315
408,858		 2023
£
22,197
123
2,537
7,905
32,762
Transfers
between
funds
£
22,928
(22,928)
-
8,695
(9,435)
-
-
-
(740)
-
740
740
-		 2022
as restated
£
2,176
149
19,639
6,996
28,960
At
31.12.23
£
580,525
-
580,525
832,221
-
1,927
-
2,000
836,148
152,373
754
153,127
1,569,800

20. MOVEMENT IN FUNDS

continued...

Page 19

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

20. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Priory and organ restoration
Organ
Churchyard
Fabric repairs
Choir & Music Fund
Endowment funds
Restoration Appeal Fund
Graves Maintenance
TOTAL FUNDS		 Incoming
resources
£
310,014
304,948
576
59
-
2,000
307,583
3,929
14
3,943
621,540		 Resources
expended
£
(194,431)
(24,161)
(3,695)
(2,166)
(16,400)
-
(46,422)
-
-
-
(240,853)		 Gains and
Movement
losses
in funds
£
£
-
115,583
16,799
297,586
-
(3,119)
-
(2,107)
-
(16,400)
-
2,000
16,799
277,960
11,372
15,301
-
14
11,372
15,315
28,171
408,858		 Gains and
Movement
losses
in funds
£
£
-
115,583
16,799
297,586
-
(3,119)
-
(2,107)
-
(16,400)
-
2,000
16,799
277,960
11,372
15,301
-
14
11,372
15,315
28,171
408,858
277,960
15,301
14
15,315
408,858

Comparatives for movement in funds

Unrestricted funds
General fund
Designated Fund - Sunday School and
Other
Restricted funds
Priory and organ restoration
Organ
Churchyard
Fabric repairs
Endowment funds
Restoration Appeal Fund
TOTAL FUNDS		 At 1.1.22
£
456,480
16,996
473,476
584,292
12,554
4,034
16,400
617,280
152,831
1,243,587		 Net
movement
in funds
£
(12,767)
5,932
(6,835)
(60,051)
-
-
-
(60,051)
(15,759)
(82,645)		 Transfers
between
funds
£
(1,699)
-
(1,699)
1,699
-
-
-
1,699
-
-		 At
31.12.22
£
442,014
22,928
464,942
525,940
12,554
4,034
16,400
558,928
137,072
1,160,942

continued...

Page 20

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

20. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
173,235
(186,002)
Designated Fund - Sunday School and
Other
5,932
-
179,167
(186,002)
Restricted funds
Priory and organ restoration
21,332
(12,111)
Endowment funds
Restoration Appeal Fund
9
-
TOTAL FUNDS
200,508
(198,113)
A current year 12 months and prior year 12 months combined position is as follows:
Prior
Net
year
movement
At 1.1.22
adjustment
in funds
£
£
£
Unrestricted funds
General fund
456,480
(115,000)
102,816
Designated Fund - Sunday
School and Other
16,996
-
5,932
473,476
(115,000)
108,748
Restricted funds
Priory and organ
restoration
584,292
-
237,535
Organ
12,554
-
(3,119)
Churchyard
4,034
-
(2,107)
Fabric repairs
16,400
-
(16,400)
Choir & Music Fund
-
-
2,000
617,280
-
217,909
Endowment funds
Restoration Appeal Fund
152,831
-
(458)
Graves Maintenance
-
-
14
152,831
-
(444)
TOTAL FUNDS
1,243,587
(115,000)
326,213		 Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
173,235
(186,002)
Designated Fund - Sunday School and
Other
5,932
-
179,167
(186,002)
Restricted funds
Priory and organ restoration
21,332
(12,111)
Endowment funds
Restoration Appeal Fund
9
-
TOTAL FUNDS
200,508
(198,113)
A current year 12 months and prior year 12 months combined position is as follows:
Prior
Net
year
movement
At 1.1.22
adjustment
in funds
£
£
£
Unrestricted funds
General fund
456,480
(115,000)
102,816
Designated Fund - Sunday
School and Other
16,996
-
5,932
473,476
(115,000)
108,748
Restricted funds
Priory and organ
restoration
584,292
-
237,535
Organ
12,554
-
(3,119)
Churchyard
4,034
-
(2,107)
Fabric repairs
16,400
-
(16,400)
Choir & Music Fund
-
-
2,000
617,280
-
217,909
Endowment funds
Restoration Appeal Fund
152,831
-
(458)
Graves Maintenance
-
-
14
152,831
-
(444)
TOTAL FUNDS
1,243,587
(115,000)
326,213		 Gains and
losses
£
-
-
-
(69,272)
(15,768)
(85,040)
Transfers
between
funds
£
21,229
(22,928)
(1,699)
10,394
(9,435)
-
-
-
959
-
740
740
-		 Movement
in funds
£
(12,767)
5,932
(6,835)
(60,051)
(15,759)
(82,645)
At
31.12.23
£
465,525
-
465,525
832,221
-
1,927
-
2,000
836,148
152,373
754
153,127
1,454,800

continued...

Page 21

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

20. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund - Sunday School and
Other
Restricted funds
Priory and organ restoration
Organ
Churchyard
Fabric repairs
Choir & Music Fund
Endowment funds
Restoration Appeal Fund
Graves Maintenance
TOTAL FUNDS		 Incoming
resources
£
483,249
5,932
489,181
326,280
576
59
-
2,000
328,915
3,938
14
3,952
822,048		 Resources
expended
£
(380,433)
-
(380,433)
(36,272)
(3,695)
(2,166)
(16,400)
-
(58,533)
-
-
-
(438,966)		 Gains and
Movement
losses
in funds
£
£
-
102,816
-
5,932
-
108,748
(52,473)
237,535
-
(3,119)
-
(2,107)
-
(16,400)
-
2,000
(52,473)
217,909
(4,396)
(458)
-
14
(4,396)
(444)
(56,869)
326,213

Priory and organ restoration

The fund has arisen over several years from donations and legacies with specific provision for the restoration, maintenance and upkeep of the structure of the Priory and its integrated organ. Major repair costs for the fabric of the Priory are charged to the fund as they are incurred.

Organ

This fund has been held for repairs specifically to the integrated organ. The fund is to be used for these maintenance costs in priority to the Priory and organ restoration fund.

Churchyard

This fund is restricted as a bequest to be used as the PCC decides for the maintenance of the churchyard.

Fabric repairs

The fund was established to provide for the maintenance of the fabric of the Priory. The fund was fully utilised during the year.

Choir and Music Fund

In 2023, the Priory was left a specific legacy with the provision that the money had to be used to purchase music for and/or to used for the benefit of the choir as the choir shall decide.

Graves maintenance endowment

This fund relates to bank deposits held to generate income for the maintenance of specified graves in the Churchyard.

continued...

Page 22

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Notes to the Financial Statements - continued For The Year Ended 31 December 2023

20. MOVEMENT IN FUNDS - continued

Transfers between funds

The balance on the Organ fund has been transferred to the Priory and Organ restoration fund as the purpose of the Organ fund is included within the purposes of the Priory and Organ restoration fund.

It was identified during the year that certain bank accounts held as restricted funds within the Priory and organ restoration fund were incorrectly classified and should be reclassified as endowment funds as the income generated from these deposits was to be used for the maintenance of the specified grave.

In previous years the Trustees had designated part of the unrestricted funds for the Sunday School and other purposes. The Trustees have agreed to remove this designation during the year.

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.

Page 23

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Detailed Statement of Financial Activities For The Year Ended 31 December 2023

INCOME AND ENDOWMENTS
Donations and legacies
Parish giving scheme and other planned
donations
Income tax recoverable
Freewill offering
Open plate collections
Sundry donations
Legacies
Grants
Income from Votive candle
Other trading activities
Shop income
Coffee
Parish magazine
Church and church hall lettings
Fêtes and bazaars
Concerts and events
Investment income
Net rental income receivable
Dividends and interest
Other income
Wedding and funeral fees
Total incoming resources
EXPENDITURE
Raising donations and legacies
Church shop purchases
Cost of freewill offering envelopes
Concerts and events
Stockbroker fees
Charitable activities
Wages
Carried forward		 2023
a
£
27,827
10,526
12,019
16,618
12,460
425,000
2,209
1,725
508,384
14,272
1,575
677
5,794
2,957
11,348
36,623
15,000
31,454
46,454
30,079
621,540
6,455
-
6,937
3,701
17,093
20,230
20,230		 2022
s restated
£
40,260
11,640
5,327
19,502
5,564
3,624
9,380
1,606
96,903
13,713
888
1,106
3,024
3,093
9,094
30,918
15,677
22,320
37,997
34,690
200,508
6,533
304
6,123
3,689
16,649
22,610
22,610

This page does not form part of the statutory financial statements

Page 24

The Parochial Church Council Of The Ecclesiastical Parish Of Bridlington St. Mary

Detailed Statement of Financial Activities For The Year Ended 31 December 2023

Charitable activities
Brought forward
Pensions
Diocesan freewill offering
Clergy housing
Vergers fees
YDBF fees re occasional office
Church insurance
Rooms insurance
Light and heat
Light and heat refund
General repairs
Room repairs
Music and organ tuning
Choir expenses
Upkeep of services
Churchyard upkeep
Sundry expenses
Architect
Website
Recruitment
Cleaning and water rates
Bell ringers
Fixtures and fittings
Computer equipment
Support costs
Finance
Bank charges
Governance costs
Independent examination
Payroll services
Office costs
Total resources expended
Net income		 2023
a
£
20,230
420
72,000
396
975
11,775
11,615
1,538
23,721
-
42,160
720
9,252
1,495
-
2,167
4,495
-
453
-
624
730
10,853
349
215,968
725
2,350
180
4,537
7,067
240,853
380,687		 2022
s restated
£
22,610
426
70,008
152
-
14,458
10,332
1,491
22,502
(21,685)
19,277
5,577
5,544
1,015
2,369
1,820
1,936
3,617
500
999
413
-
10,853
-
174,214
537
900
-
5,813
6,713
198,113
2,395

This page does not form part of the statutory financial statements

Page 25