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2022-12-31-accounts

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Registration number: 1187270

Annual Report and Financial Statements

31 December 2022

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Contents

Trustees' report 1
Trustees' responsibilities 14
Independent examiner's report 15
Statement of financial activities 16
Balance sheet 17
Notes to the financial statements 18

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.

Section 1 - Aim and Purpose

The Parish of Penrith was formed on 1 June 2019 when the former parishes of Penrith St Andrew’s and Penrith Christ Church merged. This merger brought together the two respective parochial church councils (PCC) into a single body of trustees for the new parish.

In accordance with the PCC Powers Measure 1956, the Parish of Penrith PCC has the responsibility of cooperating with the incumbent, Rev Canon David Sargent, in promoting the ecclesiastical parish and the whole mission of the Church, pastoral, evangelistic, social and ecumenical. The PCC aims for the parish to be an open, worshipping, caring, witnessing and serving Christian community in which everyone can find a place to explore life and discover faith in Jesus.

In support of promoting ‘ Christ in the heart of Penrith’ , the PCC is responsible for the maintenance of the parish’s two churches, St Andrew’s, in the town centre of Penrith, and Christ Church, on the town’s northern outskirts.

Section 2 - Objectives and Activities

The parish trustees are aware of the Charity Commission’s guidance on public benefit (as contained in ‘The Advancement of Religion for the Public Benefit’) and have had regard to it in executing their 2022 business. The PCC maintains an overview of worship throughout the parish, discussing, developing and deciding on suggestions and ideas about how services and activities could be evolved to better engage and support those that live within the parish. Our services and activities put faith into practice through prayer and scripture, music and sacrament, pastoral care and community impact in a wide variety of expressions, working closely with partner churches through Churches Together in Penrith (CTiP).

The PCC is committed to enabling as many people as possible to worship at the parish’s two churches and to be part of the Parish of Penrith community; the PCC does this by:

a. Providing facilities for public worship, pastoral care and spiritual, moral and intellectual development, for both regular parishioners and anyone else who wishes to benefit from what the Church offers, and;

b. Promoting Christian values, and services by members of the Church in and to their communities, to the benefit of individuals and society as a whole.

To facilitate this work, it is important that we maintain the fabric of both St Andrew’s and Christ Church.

The output necessary to meet these objectives is generated through a combination of effort from a small group of paid staff and a very large group of volunteers. Members of the congregation acted in various volunteer capacities throughout 2022, including as servers, sidespersons, choristers, bell ringers, providers of prayer ministry, children and families ministry supporters, pastoral carers, flower arrangers, sound and livestreaming technicians, webmasters, magazine editors, silver and brass cleaners and members of the PCC and its subordinate committees/groups.

Section 3 - Achievements and Performance

Overview

2022 was, thankfully, a resurgent year for the parish following the national tribulations brought by COVID. The continued easing of social distancing and other restrictions that had impacted so keenly in 2021 allowed us, in 2022, to return to something approximating pre-pandemic normality. 2022 also saw the start, in March, of a 12-month period of tricentenary celebrations at St Andrew’s, with a range of events running throughout the year to mark this significant parish milestone.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

Worship & Prayer

During the year, the ordained/licenced ministry team comprised: Rev Canon David Sargent, Rev Mary Edwards, Rev Andrew Gardner, Rev Beth Honey, Mrs Julie Barrett and Mr Hugh Ellison. The Penrith Team Ministry was particularly well supported by retired ministers and diocesan ministers living locally – Rev Cameron Butland, Rev Peter Clement, Rev Paul Dunthorne, Rev Mike Houston and Venerable Chris Sims. Our organists were: Mr Colin Marston (primarily St Andrew’s) and Mr Philip Bell (primarily Christ Church).

The parish continued its broad provision of public worship and prayer, both through face-to-face services at its two churches and via digital technology. St Andrew’s is open every day for private prayer and is used by many people as a place of quiet reflection. The opportunity to light candles, sit quietly or browse resources exploring faith is an important part of our town-centre presence. Christ Church is open when booked for services or other pre-planned usage.

Our routine worship pattern at our two churches during 2022 has been:

Day Time Event Location Remarks
(a) (b) (c) (d) (e)
Sunday 8.00 am
10.00 am
10.30 am
6.00 pm		 Holy Communion
Holy Communion
See Table 2
Evensong (1st Sunday)		 Christ Church
St Andrew’s
Christ Church
St Andrew’s		 Summer months only
Monday 8.30 am Morning Prayer St Andrew’s
Tuesday 8.30 am
9.30 am		 Morning Prayer
BCP Communion		 St Andrew’s
St Andrew’s
Wednesday 8.30 am
12.30pm		 Morning Prayer
Celtic Communion		 St Andrew’s
St Andrew’s
Friday 2.30pm Tea Service Christ Church

Table 1 - Routine Schedule for Worship

The Tuesday, Wednesday and Friday services continue to provide important opportunities for worship for those who are unable to attend on Sunday mornings. As a less formal opportunity for mid-week worship and praise, the parish offers a ‘Filling Station’ meeting each month at 8 pm in a local café.

Our mid-morning Sunday services at Christ Church have evolved significantly during the year, settling by year-end into an ‘every-Sunday’ footprint as shown in Table 2:

Sunday of
the Month		 Time Service
(a) (b) (c)
1st Sunday 10.30 am ‘WorshipTogether’
2nd Sunday 10.30 am MorningPrayer / HolyCommunion(Alternate Months)
3rd Sunday 10.30 am ‘WorshipTogether’
4th Sunday 10.30 am Ecumenical service in the tradition of the United Reformed Church

Table 2 - Mid-Morning Sunday Service Model at Christ Church

The live-streaming of Sunday and weekday services from St Andrew’s and the uploading of service recordings onto the parish website have each continued to help make worship accessible to those unable to be present in the church buildings. The continued use of a dedicated WhatsApp group for morning and evening prayer, led by different members of our ministry team, has similarly helped to bring the parish together irrespective of physical location. These digital options were, and remain, open to all and so have offered an important service to the wider community.

While daily prayers (via WhatsApp or though our website) and our monthly prayer diary (published in the parish magazine) provided a routine prayer framework, the Parish Prayer Circle has continued to offer more personally-focused prayer support to parishioners in response to specific events and individual experiences.

At St Andrew’s, the choir, led now for 40 years by organist Mr Colin Marston, continues to play a major part in Sunday worship. At Christ Church, Mr Philip Bell has continued to be centre stage in all respects regarding organ matters.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

The Penrith Bell Ringers have continued to provide a much-valued call to worship every Sunday morning - ‘we are here, we are open, please come’ is rung out skilfully and frequently - and at other significant moments in the year and in our national public life. Our bell ringers helped us celebrate Her Majesty’s 70th Jubilee in June and, poignantly, mourn her passing in September.

Throughout 2022, a children’s Sunday School has complemented our worship offerings on Sundays. Traditionally, this had been provided at St Andrew’s, coinciding with the 10.00 am Sunday service. During 2022 our Children & Families Ministry (CFM) Worker (Mrs Chenda Nuttall) working with Rev Beth Honey, Rev Paul Dunthorn and a team of co-leaders and planners re-balanced the CFM focus to include Christ Church through the development of an informal ‘Worship Together’ service. This was initially on a once-a-month basis but by the end of the year we had settled into a rhythm for children’s worship that saw the CFM Team delivering at Christ Church on the 1st and 3rd Sundays of the month and at St Andrew’s on the remaining Sundays.

Pastoral Care

Rev Andrew Gardner has continued to lead our pastoral care ministry for the church family and wider community. This included home visits and communion at home. Phone calls and door-step meetings are also important aspects of this work.

The different networks within the church and ecumenical community (Tuesday Club, Mothers’ Union, Knit & Natter, Bell Ringers, Choir, Bible Study, Home Groups, Tea Service, RESTORE, and various Children & Families Ministry groups) have each continued to play their own part in providing a piece of the parish-wide safety net that helps ensure parishioner well-being.

The parish’s monthly magazine, The Beacon, continues to play an important role in ensuring that parishioners can remain abreast of matters on a routine basis. The Beacon’s editorial team produced its scheduled 10 issues over the 2022 calendar year. While hardcopies are always available, consumption remains predominantly digital, whether ‘pushed’ via the parish’s email distribution list or ‘pulled’ by individual readers from the parish website.

The digital platform provided by the parish website continues to be a vital link for parishioners, delivering a ‘one-stop-shop’ for parish information, accessible to all those with on-line connectivity whether regular parishioners, parish visitors or members of the wider community. This is complemented by a FaceBook presence to help capture a wider audience.

Mission & Evangelism

The parish continued its link of many years with the Church Mission Society (CMS), supporting the society’s overseas mission work both financially and through prayer. In 2022, the parish partnered with a CMS mission worker whose focus is on Christian advocacy in the Middle East.

The parish has continued to actively support the work of the Salvation Army Food Bank, Christians Against Poverty Debt Advice Centre, Christian Aid, the Bishop of Carlisle’s annual Harvest for the Hungry Appeal, IGNITE Penrith (Youth Ministry) and the RESTORE projects in the town. As in previous years, a variety of other one-off appeals have been well supported by ‘retiring collections’.

The CFM Team is particularly focused on outreach to families with young children. A member of the team attends each of our baptisms, acting as a link into the wider child-focused activities within the parish should parents wish to explore further. With the exception of Sundays, the ministry is routinely based at Christ Church, with Tuesday Ladybabes (for parents with U1s) and Ladybirds (for parents with toddlers) and regular ‘pop-up’ events. These activities have provided a child-friendly next step for those families whose recent contact with the church has been via a child’s baptism or via the CFM Team’s work in local schools, especially Beaconside Church of England Primary School, but also with an ongoing presence and involvement at Hunter Hall and Brunswick Road schools.

Bible Study/Home Groups continued during the year.

During 2022 we have continued to focus on the importance of ensuring that there is a genuine welcome for all at public worship. This wide and warm embrace and the range of worship styles and approaches that are on offer enables people to encounter the church community and explore faith at their own pace and without pressure, with people generally feeling that they ‘belong’ before they might express a commitment to ‘belief’.

During October and November 2022, we gathered views from across our congregations concerning the nature of our church life and our possible next steps in developing our mission and outreach program. This ‘congregational feedback’ was used to fuel trustee thought processes at the PCC Reflections Day in November and will continue to be used during 2023 to support PCC decision-making about mission and outreach development.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

Beaconside Primary and Other Schools

The PCC is committed to its formal links to Beaconside Church of England Primary School in Penrith and were delighted when the school received ‘Excellent’ following their SIAMS (Statutory Inspection of Anglican and Methodist Schools) report in 2022. Mrs Judith Markey continued as Chair of Governors and Rev David, Mr Phillip Lund (deputy chair, spirituality, RE and collective worship), Miss Clare Markey (safeguarding) and Mr Andrew (Paddy) Winton (health and safety) continued as Foundation Governors. Miss Sarah Bowers acted as Staff Governor.

Rev David continued to provide well-being support to Mr Darren Glynn (Head of School) and Mrs Markey met Mr Nick Page (Executive Head) regularly for challenge and support meetings. Some members of the congregation resumed their reading support activities, which the Beaconside School community greatly values. Mrs Nuttall and Mr Lund resumed the delivery of a lunchtime Beaconside Bible Club.

Regular visits to schools resumed more broadly post-Covid. Rev David and Mrs Nuttall resumed the delivery of collective worship at Beaconside, Hunter Hall and Brunswick Road Infants. Both individuals were heavily engaged in supporting children when their curriculum work took them into St Andrew’s, eg discussing baptism and marriage services. At Beaconside, Rev David also supported the development of spirituality and RE across the school.

A number of Easter and Christmas workshops were offered by Mrs Nuttall, in partnership with Mrs Ruth Evans of NISCU (Northern Inter-Schools Christian Union), at St Andrew’s and Christ Church, which several local schools attended.

St Andrew’s has continued to be a focus for end-of-term and other (eg Harvest Festival) services of worship by a number of local schools, including Queen Elizabeth Grammar School and Beaconside Primary. The inter-schools choir event held at St Andrew’s in December 2022 was particularly successful and well attended.

Ecumenical Relations

Cumbria is committed to ecumenism and working together as a whole Christian community and Penrith is at the heart of Cumbria’s commitment as an ‘Ecumenical County’. The Parish of Penrith is at the core of the Churches Together in Penrith (CTiP) movement, the Penrith Mission Area and the Penrith Mission Community.

During 2022, Rev Canon David Sargent, in partnership with Methodist ministers Rev Dave Milner and Rev Tim Cooke, has led the development of ecumenical work in Penrith and across the local area. These local ministers meet for monthly fellowship, support and informal planning. Rev David was also the CTiP Chairman and Mrs Margaret Irving served as CTiP’s Social Responsibility Officer (in which capacity she was CTiP’s focal point for driving forward the ‘Linking Lives’ befriending initiative within the Penrith area).

During the pandemic, CTiP served as the primary link between volunteers, the local and county councils and those needing help with practical support. CTiP’s broader role includes:

Providing support for initiatives like The Salvation Army’s Nourish project (previously Food Bank), Christians Against Poverty Debt Advice Centre, RESTORE and Refugees Day in the Lakes project.

Arranging joint outreach events, including Good Friday worship, Easter Sunrise worship at the Beacon, Remembrance Sunday and Christmas Eve outdoor service with Penrith Town Band.

Following the closure of Penrith United Reformed Church during 2022, the inclusion of the URC congregation and available leaders in the 4th Sunday morning service at Christ Church is an example of how well local churches cooperate for the good of all.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

Electoral Roll

The electoral roll is adjusted annually, immediately prior to the parish’s annual parochial church meeting (APCM), which usually occurs in May. The number on the roll in May 2022 was 228, up from 225 in 2021. The change is accounted for as follows: 2 parishioners ordained, 10 parishioners deceased and 15 new applications.

Baptisms, Marriages and Funerals

Table 3 provides annual figures for baptisms, marriages and funerals for 2022.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

Statement of Safeguarding Compliance

The PCC reviews, revises and re-approves its Safeguarding Policy annually. In 2022, the revised policy document (‘Safeguarding Policy – Promoting a Safer Church’) was approved at the PCC meeting held on 13 June 22.

During the period of this report, Dr Elaine Jenkins was the parish’s Safeguarding Officer for Jan-May 22, with Mrs Margaret Irving assuming the role at the parish’s Annual Parochial Church Meeting on 22 May 22 for the remainder of the year.

Mrs Irving’s assessment is that, for the 2022 period, the PCC was compliant with the duties required of it under Section 5 of the Safeguarding and Clergy Discipline Measure 2016, which states that the PCC is to ‘have due regard to the guidance issued by the House of Bishops on matters relating to the Safeguarding of Children and Vulnerable Adults.’

Fabric Report

St Andrew’s

The following is of note from 2022:

Water Ingress. Having solved the problem of the water ingress on the southeast corner of the gallery, it was possible to repair the plasterwork. Some of the organ pipes had to be removed to allow access to the damaged area and the whole area screened off to contain the dust. Lime plaster was skilfully applied, and clay-based paint used to match the new plaster with the existing plaster on the gallery.

Pipe Leak. The leaking heating pipe at the west end of the nave was eventually repaired. The problem was the join between the cast iron pipe and the modern steel pipe. The repair was reviewed for some time and appeared to have been successful.

Repointing. Over the winter it was observed that there were significant mortar fragments on the roof. Paul Grout, the church architect, was invited to inspect the pointing on the inside of the parapet. This showed evidence of patching with cement mortar which had damaged the sandstone, particularly in one area. In other places the mortar had been eroded. His advice was to have the whole area repointed with lime mortar. Quotes are still being sought for this significant work.

Annual Safety Checks/Inspections/Servicing. All the necessary checks, inspections and servicing took place as required during 2022.

Christ Church

The following is of note from 2022:

Stonework. Last year’s annual report mentioned that a detailed survey of the roof and external walls by the church’s architect had revealed that problems were more widespread than originally thought and that a programme of repair and repointing works would commence in 2022. The most urgent work related to the East End of the church, and this was completed in June 2022. A schedule of works has been prepared for the remainder of the repairs (which are at the West End of the church). The intent is to undertake these repairs in 2023 and funding applications to support this work have been submitted.

Windows. Work has been undertaken to fit polycarbonate protection to windows in one of the toilets and also in the meeting room. The toilet window had been damaged and required some re-leading, but this was the subject of an insurance claim.

Organ. Thanks to a substantial grant from the Pilling Trust, work to restore the great soundboard and pedals was undertaken and completed during the year. After the extensive restoration of the organ over the past few years we now have a wonderful instrument, which should be in good condition for many years to come.

Kitchen. The final element of the kitchen refurbish work (repainting) was completed in 2022, bringing the Christ Church kitchen refurbishment to a successful conclusion.

Annual Safety Checks/Inspections/Servicing. All the necessary checks, inspections and servicing took place as required during 2022.

Section 4 – Financial Review

We anticipated a year with a considerable deficit, as we knew further maintenance work was necessary at both churches and were unsure whether 2022 would finally be the first year since the pandemic when church activity would get back to normal.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

However, the income was considerably higher than expected. This was mainly due to a very generous legacy of £240,000 received from the late Mr Guy Mawson. This is a Permanent Endowment Fund, invested, as per the terms of the will, in the Church of England Investment Fund, from which the dividends each year are for the upkeep of St Andrew’s Church. There may still be a final payment to be received during 2023, which would also be paid into the same fund. Alongside our Goodburn Endowment Fund this means we now have £657,841 invested in endowments that will continue to provide much needed and welcome annual income to support the continued task of maintaining our Grade 1 listed church building.

In addition to this our income was boosted by increased fundraising events and generous donations. The card reader again proved to be a good way of receiving donations. The total amount of general donations received during the year via the card reader was £2,180. In addition, £1,017 was received for in memoriam, charity events and the Flower Festival. Most donations came via the St Andrew’s machine but a small amount was taken at Christ Church too. Key events that contributed to the income were the Flower Festival, King’s Men Concert, which both made a surplus of around £2,500 (thanks to the sponsors of both these events) and the return of 2 annual Craft Fairs which made a surplus of over £7,000. These events were all due to hard work of many volunteers but for the Flower Festival especially Carole Gardner and the King’s Men Concert Colin Marston, who along with his wife Viv were the driving force behind the Craft Fairs for many years. We are sorry that they will no longer be running these but thank them for all their hard work in raising funds not only for the church but also enabling donations to go to various deserving charities:- in 2022 it was the Calvert Trust who were supported by donations of £3,565 (half the surplus). Also, now in its 11th year, the annual Plant sale raised nearly £1,000. Thanks to Jane Boylan for co-ordinating this.

Given the current financial situation affecting everyone, such as increased energy costs, you could have expected our regular donations to reduce. Instead, we are so grateful to our existing and new donors who have not only maintained but increased their level of donations. Our annual Gift Day on paper looks as though less income was received than in 2021. However, some regular contributors gave donations earlier this year, so these could not be officially classed as part of the Gift Day. As increased donations by taxpayers, who complete a gift aid declaration have been received, we have been able to reclaim even more in Gift Aid, £23,030, almost £4,000 more than previous year.

Not only do our parishioners and visitors support our parish, but they were also very generous when we have requested support for disasters and appeals across the world, their donations having supported Somalia, Pakistan, Afghanistan, and Ukraine in addition to the annual Bishop’s Harvest Appeal.

In November the PCC discussed how we could support the “Warm Spots Initiative” to provide a place where people could come along, partly to keep warm, but equally importantly to have an opportunity to meet others and enjoy fellowship over a cup of tea. Obviously, this costs money to run, chiefly for heating, so we applied to the Cumbria Community Foundation’s “Warm Spots Fund” and were successful in receiving a grant of £865. Thanks to the funder and the many volunteers who offered to be part of a duty rota, we were able to set up Sunday afternoon sessions from late November to run until early April 2023.

Other grants we received during the year were £6,000 from Pilling Trust towards further restoration work on Christ Church Organ and £9,711 VAT refund from the Listed Places of Worship Scheme. Given the amount of maintenance work being undertaken on both churches these grants have been very welcome.

On the expenditure side, many of the costs incurred were in line with previous years, or as we had anticipated in the budget. One of the items with the greatest increase is not surprisingly energy costs, which were 100% up on 2021. Part of this was due to getting back to more like normal after the pandemic and using the church buildings more, so therefore using more heating and lighting. However, when we received our new annual rates in October 2022 the increases were much more than we had expected: - e.g. for St Andrew’s Church the price increased by 335%. The other rates were not quite as high but still very considerable though we will not feel the full effect of this until 2023 bills arrive. We are very grateful though to the many organisations who use our church buildings who have recognised this and given donations towards our heating costs. We are also grateful to the groups who have either moved their sessions to a different day or time to fit in with when the church is already being heated or have said not to have the heating as high and they come wrapped up warm!

Maintenance costs of £59,388 were again significant and we can always expect this with having to maintain two listed buildings. The largest items of expenditure were:- Christ Church masonry work (East End), restoration of organ great soundboard and pedals and repairs to damaged windows (partly insurance claim); St Andrew’s plaster work (partially covered by insurance) and a final payment for maintenance work completed in 2017 but just invoiced in 2022.

We did manage to increase our Parish Offer to £85,425 and although this is not being increased for 2023 we are looking to increase for future years in line with Diocese predictions of increased inflationary costs of their budgets and for 2024 onwards we hope to establish a 3 year “Partnership Agreement” to give stability to the Diocese budget which covers the costs of our ministers which goes without saying is so vital to our ability to provide support and mission across our area.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

A net deficit of £14,004 on unrestricted funds was made, however when the revaluation of investments was added, which in 2022 made a loss of £19,530, a total deficit on unrestricted funds was made of £33,534. Restricted funds had a small surplus of £845. The Goodburn Endowment Investment made a loss of £55,749 which is considerable, though as we know investments can go up and down, 2021 being a good year.

The year-end balance sheet shows £1,186,240 which on paper does make us look in a very healthy position but we must remember that £657,841 is in permanent endowment funds (that we of course cannot spend) and £211,310 which is in restricted funds leaving only £317,089 unrestricted of which the PCC has kept £40,452 designated for Tercentenary Project (TC300) at St Andrew’s, placing the remainder of designated funds back into free reserves. Free reserves at the year end were £149,117. During 2023 and into 2024 it is likely TC300, assuming successful grant funding, will come to fruition. It will likely be the requirement of funders that we put a substantial amount of our own funds towards this major project. This contribution would come though from the designated funds, plus restricted reserves for St Andrew’s Fabric and should not impact on our unrestricted reserves position, which although significantly higher than our reserves policy, we have once again for 2023 set a deficit budget.

I would like to thank the Finance Committee and our Finance Administrators (Alison Butland to December 2022 and Kathryn Towson from November 2022) for their support. I also wish to thank Dodds our accountants for all their help in getting us set up with new accounting software which we have started using from January 2023.

This will be my final year preparing this review as I am ceasing being treasurer later in 2023. I have enjoyed the role, having been treasurer for Christ Church PCC since 2014 and the new Parish of Penrith PCC since 2019, I feel time to let someone else take over and wish them all the best.

Section 5 – Reserves Policy

It is PCC policy to maintain a balance of unrestricted (excluding designated funds) reserves which equates to a minimum of six months’ expenditure to cover emergency situations that may arise from time to time and that ensures we can continue to honour commitments to staff and necessary church running costs. Although the current reserves level is higher than this, the PCC is aware that given the expected major maintenance cost, likely increased fuel charges and a deficit budget, having a higher reserves level is a very helpful safeguard to ensure we can continue our activities even when income is reduced.

It is our policy to invest our funds with the CDBF Church of England Investment and Deposit Funds and also in various building society accounts. During 2022 the PCC decided to reduce our investments in Church of England Deposit Funds and at the year-end were waiting for a new building society account to be opened.

Section 6 – Future Plans

Looking forward, in addition to continuing to comply with all necessary church, local and national legislation, the PCC’s long and short-term plans include:

A major works project at St Andrew’s to mark the 300th anniversary of the Georgian building and provide facilities fit for the ministry and outreach of the church in the centre of Penrith for years to come.

Development of Christ Church building and grounds as a core community asset for Penrith.

A technical refresh of the parish’s livestreaming hardware/infrastructure.

The connection of St Andrew’s to superfast broadband, expanding the utility of the building as a community asset and better enabling livestreaming through more robust connectivity. Christ Church is to be considered at a later date.

The exploration of cost-saving opportunities through the sharing of parish office resource with members of the wider mission community in Penrith.

The delivery of an increasingly ambitious programme of Children and Family Ministry events to help grow the parish community.

Secondary glazing / encapsulation of the stained-glass windows at St Andrew’s.

Continued mandatory upkeep, preventative maintenance and repair of the parish’s buildings.

Section 7 – Risk Management

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

The trustees confirm that the major risks, to which the PCC is exposed, as identified by the trustees, have been reviewed and that systems and procedures have been established to manage those risks. The principal risks and uncertainties which face the PCC relate to the reliability and frequency of its income, most of which is voluntary in nature, and possible difficulties arising from adverse publicity affecting the Church as a whole or the PCC of the Parish of Penrith. As part of the risk management strategy, having a robust budget with oversight by Finance Committee and regular monitoring reports to the trustees enables potential financial shortfall problems to be identified at an early stage. Any adverse publicity would also be reported to the trustees to enable any possible negative affects to be identified and addressed.

Section 8 – Structure, Governance and Management

The PCC is a corporate body established by the Church of England; it operates under the PCC Powers Measure and is a registered charity. The trustees of this charity for the 2022 period are listed at Table 4 Serial 3 (being either ex officio or elected under the provisions of the Church Representation Rules made under the Synodical Government Measure, as indicated).

During 2022, the PCC met at an approximate frequency of once every two months, with a total of 6 full PCC meetings occurring over the year (January, March, June, July, September and November). A ‘single item’ PCC meeting for the purpose of key officer elections was also held. In addition to these PCC meetings, the PCC also convened the parish’s Annual Parochial Church Meeting on 22 May 2022 and met for a PCC Reflections Day on 19 November 2022.

All those who attend our parish services are encouraged to register on the electoral roll and stand for election to the PCC. Over the year, PCC membership ran to a steady state of around 17 trustees plus a non-voting PCC Secretary (who did not qualify for trustee status). The average membership attendance at PCC meetings was circa 75%, well above the quorum level of one third. PCC members are responsible for making decisions on all matters of general concern and importance to the parish, including deciding how parish funds are spent. All PCC business (including the election of members) was executed in accordance with Church Representation Rules.

Over the period of this report, the PCC operated five subordinate committees, each with a recognised chair and set of members (see Table 4), which reported regularly back to PCC on their work. These committees were:

Standing Committee – a sub-set of the PCC, formally charged by the PCC with the execution of general routine business on the PCC’s behalf; financial approval retained by PCC unless expressly delegated on a case-by-case basis.

Fabric Committee(s) – charged by the PCC with the coordination and management of the maintenance and repair of the parish’s buildings (and (where relevant) grounds; financial approval retained by PCC, except for limited expenditure for urgent matters. For the first 5 months of 2022 the parish had a single fabric committee operating across both church buildings; from June 2022 onwards, the parish operated two separate fabric committees, one for each of its two churches.

Finance Committee – charged by the PCC to operate as critical friend to the Treasurer, providing support and advice where appropriate; the committee has no financial approval powers.

Children & Families Ministry (CFM) Steering Group – charged by PCC with oversight of and strategic planning for CFM matters within the parish.

Parish Office Administration. The Parish Office (located within Penrith Parish Centre, a separate building, not under the control of the PCC) continued to be unstaffed, with parish office administrative duties continuing to be apportioned across a small team. Emails and answerphone messages were variously diverted to Rev David Sargent, Rev Andrew Gardner and Mrs Margaret Irving, while Miss Joanne Irving assisted with preparation, printing, digital uploading and email distribution of weekly pew sheets, service sheets and the monthly Beacon Magazine plus helping out with a myriad of routine office tasks. Additionally, Mrs Margaret Irving continued to cover the responsibility for ordering the office supplies and printing consumables needed to keep the parish running.

Section 9 – Administrative Information

Table 4 provides key administrative details pertaining to the parish/PCC over the period of the report.

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The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

Page 10

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Report for the Year Ended 31 December 2022

Page 11

The Parochial Church Council of the Ecclesiastical Parish of Penrith Trustees' Report for the Year Ended 31 December 2022

Page 12

Tho Parochial Church Council of tho E¢cleslastlcal Parish of Penrith TTU$t8es' Report for tho Y&ar Ended 31 D8Comb•r 2022 19 Independent Examiner Dtyjd & Co Limf(ed, Clnt Mill, Commafket. Penrith, CA117HW 20 Bankers Unity Trust Bank PLC, 4 Brindley Place, Bimiingham. B1 2JB Cartmell Shepherd, Bishop Yards, Penrith, CA117XS Mr Paul Grcut, 1 Angel Yard, Highgate, Kendal. LA9 4DA 21 Sdicitors 22 Archf(ecl (St Andrew's) Archrtect (Christ Church) 23 MT Jthn Bames. Selah HC￿Se, Renwick, Penrith. CA10 1 JZ Tablè 4- Key Administrative Infomiation 2022 Approved by the Trustees on 26 April 2023 and sign&l on thwr b8halfby'. Rew Canon D S8rgent Trustee Page 13

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Trustees' Responsibilities in relation to the Financial Statements

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection fraud and other irregularities.

Page 14

Independent Examiner's Report to the Trustees of

The Parochial Church Council of the Ecclesiastical Parish of Penrith

I report on the accounts of the charity for the year ended 31 December 2022, which are set out on pages 16 to 30.

Your attention is to drawn to the fact that the Charity has prepared the financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

Respective responsibilities of trustees and examiner

The Charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met; or

(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

......................................... Joanne Thomlinson FCA Dodd & Co Limited Chartered Accountants

Clint Mill Cornmarket PENRITH CA11 7HW

26 April 2023

Page 15

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Statement of Financial Activities for the Year Ended 31 December 2022

Note
Income and endowments from:
Donations and legacies
2
Other trading activities
3
Investments
4
Charitable activities
5
Other income
6
Total income
Expenditure on:
Costs of generating funds
Raising funds
Charitable activities
Total expenditure
Net incoming/(outgoing) resources
before transfers
Transfers
Gross transfers between funds
Net incoming/(outgoing) resources
before other recognised gains and
losses
Other recognised gains/losses
(Losses)/gains on investment assets
Net movements in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
146,292
31,683
5,335
11,123
4,910		 Restricted
Funds
£
29,301
-
14,898
-
-		 Endowment
Funds
£
240,000
-
-
-
-		 Total Funds
2022
£
415,593
31,683
20,233
11,123
4,910		 Total Funds
2021
£
194,534
10,761
18,544
7,898
3,840
199,343 44,199 240,000 483,542 235,577
14,022
199,325		 -
43,354		 -
-		 14,022
242,679		 6,576
239,762
213,347 43,354 - 256,701 246,338
(14,004)
-		 845
-		 240,000
-		 226,841
-		 (10,761)
-
(14,004)
(19,530)		 845
-		 240,000
(55,749)		 226,841
(75,279)		 (10,761)
80,034
(33,534)
350,623		 845
210,465		 184,251
473,590		 151,562
1,034,678		 69,273
965,405
317,089 211,310 657,841 1,186,240 1,034,678

The notes on pages 18 to 30 form an integral part of these financial statements.

Page 16

The Par￿hla1 Church Council of the Ecclesiastlcal Parish of Penrith Balance Sheet as at 31 December 2022 2022 2021 Note Flxed assets Tangible 8ssèts Investments 13 14 834 $99.780 800.814 1.217 673.750 674,967 Current assets Debtofs Cash at b3nk and in hand 15 246,991 349,￿8 596,899 310.988 367,868 CredFlorn= Amounts falling due t*4lthln one 16 {11,273} 18,1571 Net cu￿ent aS￿ts 359.711 Net assets 1.188.240 1,034,678 The fvnds of the charity. Endovarynènt funds 657.841 473.590 Rvstrlcted fund Unrestrtcted funds Unrestnrted Income fu￿lS 211.310 210.465 317,089 350,623 Total charity funds The financial Staternents have been prepared in a¢ix)rdance wth the Finanrial Rgporting Standard applicable in the UK and Republic of Ireland {FRS 1021. 1,186,240 1.034.878 Approved by the Board on 26 April 2023 and signed on Its behawby.. Rev Canon D Sargent Trustee M Irving Trustee The notes on pagas 18 to 30 form an integral part ofthese finan(x81 statements. Paoe t7

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Notes to the Financial Statements for the Year Ended 31 December 2022

1 Accounting policies

Statement of compliance

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities:Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Basis of preparation

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

Going concern

These financial statements have been prepared on a going concern basis.

Fund accounting policy

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes.

Further details of each fund are disclosed in note 18.

Income and endowments

Donations and legacies including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised where there is entitlement, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Income from Government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Gifts in kind are recognised in different ways dependent on how they are used by the charity:

(i) Those donated for resale produce income when they are sold. They are valued at the amount actually realised. (ii) Those donated for onward transmission to beneficiaries are included in the statement of financial activities as incoming resources and resources expended when they are distributed. They are valued at the amount the charity would have had to pay to acquire them.

The charity has not received any goods for use by the charity itself.

Incoming resources from tax reclaims are included in the statement of financial activities at the same time as the gift to which they relate.

Income derived from events is recognised as earned (that is, as the related goods or services are provided).

Investment income is recognised on a receivable basis.

Page 18

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued

Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.

Expenditure

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Raising funds are the costs of trading for fundraising purposes.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Fixed assets

Individual fixed assets costing £1000 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Fixtures, fittings and equipment 10% and 25% reducing balance and 25% straight line basis

Cash and Cash Equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Investments

Fixed asset investments are included at market value at the balance sheet date.

Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the statement of the financial activities in the period of disposal.

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the statement of financial activities based on the market value at the year end.

Page 19

The Parochial Church Council of the Ecclesiastical Parish of Penrith Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued

2 Donations and legacies

Donations and legacies
Regular donations attracting gift aid
Individual donations attracting gift aid
Other planned giving
Collections at services
Legacies and bequests
Appeals and donations
Gift Aid tax reclaimed
Collections in memoriam
Porch box and wall safe
Gift day
Grants
UK Government grants
Grants - other agencies		 Unrestricted
Funds
£
66,181
6,427
7,961
9,852
2,028
8,627
22,277
7,241
2,062
6,920		 Restricted
Funds
£
-
-
-
6,029
-
1,499
753
10,759
-
400		 Endowment
Funds
£
-
-
-
-
240,000
-
-
-
-
-		 Total Funds
2022
£
66,181
6,427
7,961
15,881
242,028
10,126
23,030
18,000
2,062
7,320		 Total Funds
2021
£
54,057
7,288
9,305
7,960
50,582
13,863
19,266
10,281
2,022
9,427
139,576 19,440 240,000 399,016 184,051
6,716
-		 2,996
6,865		 -
-		 9,712
6,865		 8,614
1,869
6,716 9,861 - 16,577 10,483
146,292 29,301 240,000 415,593 194,534

Of the donations and legacies income in 2021 £159,930 related to unrestricted funds and £34,604 related to restricted funds.

3 Other trading activities

Raising Funds
Craft fair
Events
Card sales
Church lettings
Other income		 Unrestricted
Funds
£
14,001
12,652
1,136
3,213
681		 Restricted
Funds
£
-
-
-
-
-		 Endowment
Funds
£
-
-
-
-
-		 Total Funds
2022
£
14,001
12,652
1,136
3,213
681		 Total Funds
2021
£
7,502
742
1,270
1,023
224
31,683 - - 31,683 10,761

All of the raising funds income in 2021 related to unrestricted funds.

Page 20

The Parochial Church Council of the Ecclesiastical Parish of Penrith Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued

4 Investments

Income from other unlisted investments
Interest on cash deposits		 Unrestricted
Funds
£
3,964
1,371		 Restricted
Funds
£
12,816
2,082		 Endowment
Funds
£
-
-		 Total Funds
2022
£
16,780
3,453		 Total Funds
2021
£
15,124
3,420
5,335 14,898 - 20,233 18,544

Of the investments income in 2021 £4,597 related to unrestricted funds and £13,947 related to restricted funds.

5 Charitable activities

Charitable activity
Parish Magazine
Marriage and funeral fees
Contributions from other parishes
Other income		 Unrestricted
Funds
£
1,591
9,249
115
168		 Restricted
Funds
£
-
-
-
-		 Endowment
Funds
£
-
-
-
-		 Total Funds
2022
£
1,591
9,249
115
168		 Total Funds
2021
£
1,386
6,239
273
-
11,123 - - 11,123 7,898

All of the income from charitable activities in 2021 related to unrestricted funds.

6 Other income

Other income
Insurance claim		 Unrestricted
Funds
£
4,910		 Restricted
Funds
£
-		 Endowment
Funds
£
-		 Total Funds
2022
£
4,910		 Total Funds
2021
£
3,840

All of the other income in 2021, related to unrestricted funds.

Page 21

The Parochial Church Council of the Ecclesiastical Parish of Penrith Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued

7 Total expenditure

Direct costs
Cardstall
Parish magazine expenses
Booklet expenses
Event expenses
Support costs
Parish staff wages
Family workers salary and expenses
Clergy expenses
Room hire
Ministry - Parish offering
Church running costs
Utilities
Church maintenance
Printing, postage and stationery
Mission and charitable giving
In memoriam
Sundry expenses
PRS Fees
Advertising
Accountancy fees
Independent examiner's fee
Restricted and designated funds
Bank charges
Depreciation of equipment		 Raising
Funds
£
568
1,088
60
12,306
14,022
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
14,022		 Charitable
activity
£
-
-
-
-		 Total
2022
£
568
1,088
60
12,306		 Total
2021
£
635
1,187
80
4,674
- 14,022 6,576
5,033
19,081
2,509
2,559
85,425
17,735
16,213
59,388
4,623
11,474
10,759
937
978
539
3,195
945
-
903
383		 5,033
19,081
2,509
2,559
85,425
17,735
16,213
59,388
4,623
11,474
10,759
937
978
539
3,195
945
-
903
383		 5,678
18,946
2,191
2,480
83,750
15,983
8,648
78,221
3,633
6,004
5,259
49
194
429
800
900
5,555
648
394
242,679 242,679 239,762
242,679 256,701 246,338

Of the expenditure in 2021, £196,578 related to unrestricted funds and £49,760 related to restricted funds.

8 Governance costs

Accountancy fees
Independent examiner's fee		 2022
£
3,195
945
4,140		 2021
£

800

900
1,700

Page 22

The Parochial Church Council of the Ecclesiastical Parish of Penrith Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued

9 Trustees' remuneration and expenses

Rev D Sargent and Rev A Gardner are members of the PCC and were reimbursed £2,351 (2021 - £1,953) during the year for clergy operating expenses.

10 Net incoming/(outgoing) resources

Net incoming/(outgoing) resources is stated after charging:

2022 2021
£ £
Depreciation of owned assets 383 394
Accountancy fees 3,195 800
Independent examiner's fee 945 900

11 Employees' remuneration

The monthly average number of persons (including senior management) employed by the charity during the year was as follows:

Charitable activities
The aggregate payroll costs of these persons were as follows:
Wages and salaries		 2022
No.
1
2022
£
7,592		 2021
No.
3
2021
£
8,158

No employee received emoluments of more than £60,000 during the year (2021 - No. 0).

Page 23

The Parochial Church Council of the Ecclesiastical Parish of Penrith Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued

12 Taxation

The registered charity is exempt from taxation on income and gains.

13 Tangible fixed assets

Cost
As at 1 January 2022 and 31 December 2022
Depreciation
As at 1 January 2022
Charge for the year
As at 31 December 2022
Net book value
As at 31 December 2022
As at 31 December 2021		 Fixtures,
fittings and
equipment
£
1,949
732
383
1,115
834
1,217

14 Investments held as fixed assets

Market value
As at 1 January 2022
Revaluation
Additions
As at 31 December 2022
Net book value
As at 31 December 2022
As at 31 December 2021
All investment assets were held in the UK.		 Other
investments
£
673,750
(75,279)
1,309
599,780
599,780
673,750

Page 24

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued

15 Debtors

Other debtors
Included within other debtors is the Guy Mawson legacy of £240,000.		 2022
£
246,991		 2021
£
56,880

16 Creditors: Amounts falling due within one year

Other creditors
Accruals and deferred income		 2022
£
7,433
3,840
11,273		 2021
£
7,257
900
8,157

17 Related parties

Controlling entity

The charity is controlled by the trustees.

Page 25

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Notes to the Financial Statements for the Year Ended 31 December 2022

18 Analysis of funds

Designated Funds
Children and Family Worker Project
Bells
Promoting Music
TC300
Live Streaming
Fire alarm/emergency lights installation
Refurbishment Christ Church
General Funds
Unrestricted income fund
Restricted Funds
Christ Church Choir Fund
Christ Church Organ Fund
Christ Church Fabric Fund
St Andrew's Choir Fund
St Andrew's Organ Fund
St Andrew's Fabric Fund
Joyce Muirhead
Flower Fund
Memorial Stone
Tercentenary Fund
Bell Ringers
Outreach		 At 1 January
2022
£
37,717
3,674
708
40,452
11,630
837
-
95,018
255,605
33
1,183
16,325
383
629
38,944
146,019
315
90
1,361
74
4,904		 Incoming
resources
£
-
-
-
-
-
-
-
-
199,343
-
7,352
453
4
507
14,488
1,519
232
-
14
1
51		 Resources
expended
£
-
-
-
-
-
-
-
-
(213,347)
-
(7,340)
-
-
-
(17,328)
-
(254)
-
-
-
-		 Transfers
£
(37,717)
(3,674)
(708)
-
(11,630)
(837)
-
(54,566)
54,566
-
-
-
-
-
-
-
-
-
-
-
-		 Other
recognised
gains/losses
£
-
-
-
-
-
-
-
-
(19,530)
-
-
-
-
-
-
-
-
-
-
-
-		 At 31
December
2022
£
-
-
-
40,452
-
-
-
40,452
276,637
33
1,195
16,778
387
1,136
36,104
147,538
293
90
1,375
75
4,955

Page 26

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued
Live Streaming
In memoriam
Other restricted
Outreach 2022
Permanent Endowment
Goodburn Endowment Fund
Guy Mawson Endowment Fund		 205
-
-
-
210,465
473,590
-
473,590
1,034,678		 2
10,759
8,317
500
44,199
-
240,000
240,000
483,542		 -
(10,759)
(7,673)
-
(43,354)
-
-
-
(256,701)		 -
-
-
-
-
-
-
-
-		 -
-
-
-
-
(55,749)
-
(55,749)
(75,279)		 207
-
644
500
211,310
417,841
240,000
657,841
1,186,240

TC300 - Funds designated to fund the TC300 project.

Christ Church Fabric Fund - Funds can only be used for the upkeep of the church fabric at Christ Church.

St Andrew's Fabric Fund - Funds can only be used for the upkeep of the church fabric at St Andrew’s Church.

Joyce Muirhead Legacy Fund - This legacy can only be used for repairs to St Andrew’s Church.

Goodburn Endowment Fund- The terms of the legacy state that the capital for this fund cannot be withdrawn but the dividends can be used for the fabric of St Andrew’s Church and are added to St Andrew’s Restricted Fabric Fund.

Guy Mawson Endowment Fund - The terms of the legacy state that the capital for this fund cannot be withdrawn but the dividends can be used for the fabric of St Andrew’s Church.

Page 27

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Notes to the Financial Statements for the Year Ended 31 December 2022

Prior period

Designated Funds
Children and Family Worker Project
Bells
Promoting Music
TC300
Live Streaming
Fire alarm/emergency lights installation
Refurbishment Christ Church
General Funds
Unrestricted income fund
Restricted Funds
Christ Church Choir Fund
Christ Church Organ Fund
Christ Church Fabric Fund
St Andrew's Choir Fund
St Andrew's Organ Fund
St Andrew's Fabric Fund
Joyce Muirhead
Flower Fund		 At 1
January
2021
£
48,768
5,000
708
40,452
11,630
12,343
24,686
143,587
197,676
33
1,174
21,199
380
624
32,554
144,866
254		 Incoming
resources
£
-
805
-
-
-
2,301
-
3,106
182,068
-
9
3,251
3
5
13,168
1,153
320		 Resources
expended
£
(11,051)
(2,131)
-
-
-
(13,807)
(24,686)
(51,675)
(144,903)
-
-
(8,125)
-
-
(6,778)
-
(259)		 Other
recognised
gains/losses
£
-
-
-
-
-
-
-
-
20,764
-
-
-
-
-
-
-
-		 At 31
December
2021
£
37,717
3,674
708
40,452
11,630
837
-
95,018
255,605
33
1,183
16,325
383
629
38,944
146,019
315

Page 28

The Parochial Church Council of the Ecclesiastical Parish of Penrith

Notes to the Financial Statements for the Year Ended 31 December 2022

......... continued
Memorial Stone
Tercentenary Fund
Bell Ringers
Outreach
Children and Family Worker Project
Refurbishment Christ Church
Live Streaming
Memory Tree
Christian Aid
Bags for school
Children's Society
Bishop's Harvest Appeal
Bishop's Harvest Appeal
Hospice at Home
Cyclamens
Cumbria Family Support
British Legion Poppy Appeal
Donations in memoriam
CMS
Permanent Endowment
Goodburn Endowment Fund		 90
3,717
66
4,865
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
209,822
414,320
965,405		 -
29
8
39
8,362
13,476
844
47
20
25
1,293
400
207
436
680
118
274
5,259
977
50,403
235,577
315,611		 -
(2,385)
-
-
(8,362)
(13,476)
(639)
(47)
(20)
(25)
(1,293)
(400)
(207)
(436)
(680)
(118)
(274)
(5,259)
(977)
49,760
-
(246,338)		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
59,270
80,034		 90
1,361
74
4,904
-
-
205
-
-
-
-
-
-
-
-
-
-
-
-
210,465
473,590
1,034,678

Page 29

The Parochial Church Council of the Ecclesiastical Parish of Penrith Notes to the Financial Statements for the Year Ended 31 December 2022

19 Transfers

Transfers totalling £54,566 has been made from designated funds to unrestricted funds as it was agreed by the trustees to remove the designation of these funds.

20 Net assets by fund

Tangible assets
Investments
Current assets
Creditors: Amounts falling due within one year
Net assets
Tangible assets
Investments
Current assets
Creditors: Amounts falling due within one year
Net assets		 Unrestricted
Funds
£
834
167,138
159,674
(10,557)
317,089		 Restricted
Funds
£
-
14,801
197,225
(716)
211,310
Total Funds
2022
£
834
599,780
596,899
(11,273)
1,186,240		 Endowment
Funds
£
-
417,841
240,000
-
657,841
Total Funds
2021
£
1,217
673,750
367,868
(8,157)
1,034,678

Prior period

Tangible assets
Investments
Current assets
Creditors: Amounts
falling due within one
year
Net assets		 Unrestricted
Funds
£
1,217
185,359
171,677
(7,630)
350,623		 Restricted
Funds
£
-
14,801
196,191
(527)
210,465		 Endowment
Funds
£
-
473,590
-
-
473,590		 Total Funds
2021
£
1,217
673,750
367,868
(8,157)
1,034,678		 Total Funds
2020
£
236
610,077
357,886
(2,794)
965,405

Page 30