Okay, I have transcribed the lyrics. Hope they're reasonably accurate!

By Henry the Eighth in 1539

Every abbey in the land was plundered
Lead, glass and gold they were taken away
And the anger of God rang out on the day
For his churches all were spoiled
And the heavens they did thunder.

Chorus:
And how the flowing tide did make those sweet bells chime.

Whitby Abbey tower had five strong bells
They were loaded onto a boat
And the townsfolk watched as the ship left shore
With sadness in their hearts for they never thought
The bells would leave the town
On a ship afloat.

She sailed out south down to Black Nab Bay
The sails all a-swell in the gale
But the seas fell calm and the winds dropped low
And the sunlight place started to show
At the Abbey ruins tower door
And the sky it grew pale.

Now the seas fell wind bound as still as death
And the ship rolled onto its side
And she sank in sight of the folk on shore
Down through the waves to the salt sea floor
And the Abbey ruins tower door
And the plunderers they died.

Now the bells lie still on the salt sea bed
Untouched by flying time
But their music peals through the sunlit seas
Down through eternal centuries
At night on Whitby shore
You can hear their chimes.