REGISTERED CHARITY NUMBER: 1059512
CARNFORTH FREE METHODIST CHURCH
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Xeinadin Dalton House 9 Dalton Square LANCASTER LA1 1WD
CARNFORTH FREE METHODIST CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Page | |||
|---|---|---|---|
| Reference and Administrative Details | 1 | ||
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 14 |
CARNFORTH FREE METHODIST CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024
| Trustees | Rev C Murgu |
|---|---|
| Mr J Carter | |
| Rev I Ellershaw | |
| Mrs C Duncan (resigned 17/12/2024) | |
| Mr D Kitchen | |
| Mr P Burt | |
| Dr M White | |
| Mr I Rothwell | |
| Mr J Davies | |
| Mr P Hayes | |
| Mr P Lumb | |
| Rev M Surrey | |
| Mrs S Wright | |
| Mrs V Karg | |
| Principal address | The Manse |
| 33 Dunkirk Avenue | |
| CARNFORTH | |
| LA5 9AP | |
| Registered charity number | 1059512 |
| Independent examiner | Xeinadin |
| Dalton House | |
| 9 Dalton Square | |
| LANCASTER | |
| LA1 1WD | |
| Bankers | Barclays Bank Plc |
| 3 Market Street | |
| CARNFORTH | |
| LA5 9JX |
Page 1
CARNFORTH FREE METHODIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. 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).
Objectives and activities
The object of the Carnforth Free Methodist Church is the furtherance of the religious and other charitable works of the Free Methodist Church of North America in accordance with the doctrines, disciplines and usages of that Church for the time being as set forth in the book of discipline. The Church benefits from many voluntary hours and unclaimed out of pocket expenses, contributed by a large number of people. It would be impossible to place a value on these gifts in kind, for which the Trustees are extremely grateful. The Trustees confirm that they have referred to the guidance contained in the Charity Commission general guidance on public benefit when reviewing the charity's aims and objectives.
Achievements and performance
During the year further income was received by the Charity via Gift Aid resulting in a total of £26,574 tax being recovered from HM Revenue & Customs.
The Trustees are aware that the Charity has an obligation to operate for an identifiable and public benefit. When planning activities Trustees consider the Commission guidance on public benefit; in particular the specific guidance on charities for the advancement of religion.
During 2024, the Church has continued to meet in-person meetings predominantly, albeit virtually using Zoom and YouTube to compliment face to face meetings, particularly for those who are vulnerable or elderly. During the year, the Church continued to support humanitarian work overseas, in particular, where two families continue to serve overseas in 2024. The Church has continued with work in the UK through schools work via sports outreach and the Church has continued to give compassionate gifts and help where needed in the local community.
During 2024, our Lead Pastor, Cristi Murgu has continued to lead the work of the Church in the local Community and surrounding areas, supported by our Associate Pastor, Ian Ellershaw. In the meantime, the Churches Admin support has continued to fulfil a part-time role to provide administrative support to the Lead Pastor, Community Pastor and wider Church.
The Pastors have been involved in visiting members of the Church and people in the local community who have had particular needs and may have asked the Church for assistance. In addition, the Church assisted community programmes have continued in person, such as divorce and bereavement support. During 2024, the Church has continued to liaise with local agencies in identifying and then supporting individuals and families in the communities.
As for assets, the Church manse at Dunkirk Avenue has been maintained. The recently developed Church Conference and Resource Centre has again been used to support the Charities objectives and hosting the community support ventures, including hosting AA. During 2024, all outstanding loans relating to the £1million plus build programme were repaid. Insurance cover on all properties has been reviewed with the recommendations of the RICS and in consultation with the Church's Insurance Brokers.
There were minor changes to the Charity's policies during 2024. In particular, the Trustees reviewed its child protection (safe guarding) policy, ensuring that employees and relevant volunteers received bespoke training on the subject. This will be delivered again in 2025. The Health & Safety Policy has been reviewed with ongoing risk assessments drawn up, particularly focus being given to new ministries and events run from the Centre. The Churches GDPR policy and its charitable data protection management processes are being managed.
Financial review
The charity does not have a formal reserves policy however it is the policy of the charity to maintain balances at a level equivalent to approximately two months expenditure to cover church running costs, should income fall. There have been no occasions when credit balances have fallen beneath this level, and no need for the matter to be escalated by the Trustees to the members of the Church for their consideration. Free reserves as at the year end were £174,253 (2023 - £61,705). No funds are in deficit.
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CARNFORTH FREE METHODIST CHURCH
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
Future plans
The charity plans to continue with its core objectives within its immediate vicinity and the surrounding regions, in addition to which it continues to explore making more use of its new premises to support its charitable objectives.
Structure, governance and management
The main governing document of the Charity is set out in the Declaration of Trust dated 30 October 1996 as amended by scheme dated 9 March 2000. New Trustees are appointed on an annual basis at the Annual General Meeting and meet regularly to review management, financial and operational risk matters.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr J Carter - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CARNFORTH FREE METHODIST CHURCH
Independent examiner's report to the trustees of Carnforth Free Methodist Church
I report to the charity trustees on my examination of the accounts of Carnforth Free Methodist Church (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
T M Preece FCCA
Xeinadin Dalton House 9 Dalton Square LANCASTER LA1 1WD
Date: .............................................
Page 4
CARNFORTH FREE METHODIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Income and endowments from Donations and legacies Charitable activities Church activities Investment income 2 Other income Total Expenditure on Charitable activities Church activities Other Total NET INCOME Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted fund £ 288,835 - 1,897 1,106 291,838 160,394 530 160,924 130,914 538,325 669,239 |
Restricted funds £ 5,184 11,386 - - 16,570 15,230 - 15,230 1,340 1,050,662 1,052,002 |
2024 Total funds £ 294,019 11,386 1,897 1,106 308,408 175,624 530 176,154 132,254 1,588,987 1,721,241 |
2023 Total funds £ 218,151 6,959 233 1,040 |
|---|---|---|---|---|
| 226,383 | ||||
| 146,879 2,999 |
||||
| 149,878 | ||||
| 76,505 1,512,482 |
||||
| 1,588,987 |
The notes form part of these financial statements
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CARNFORTH FREE METHODIST CHURCH
BALANCE SHEET 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 7 Investments 8 Current assets Debtors 9 Cash at bank Creditors Amounts falling due within one year 10 Net current assets Total assets less current liabilities Creditors Amounts falling due after more than one year 11 NET ASSETS Funds 13 Unrestricted funds Restricted funds Total funds |
Unrestricted fund £ 127,726 - 127,726 373,733 171,029 544,762 (3,249) 541,513 669,239 - 669,239 |
Restricted funds £ - 1 1 1,051,861 140 1,052,001 - 1,052,001 1,052,002 - 1,052,002 |
2024 Total funds £ 127,726 1 127,727 1,425,594 171,169 1,596,763 (3,249) 1,593,514 1,721,241 - 1,721,241 669,239 1,052,002 1,721,241 |
2023 Total funds £ 127,538 1 127,539 1,442,703 58,841 1,501,544 (3,434) 1,498,110 1,625,649 (36,662) 1,588,987 538,325 1,050,662 1,588,987 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mr J Carter - Trustee
............................................. Mr P Burt - Trustee
The notes form part of these financial statements
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
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.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture and equipment - 15% Reducing balance Computer equipment - 25% on cost
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.
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.
Going concern
There are no material uncertainties regarding the charity's ability to continue as a going concern.
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 2. Investment income Deposit account interest 3. Grants payable Church activities The total grants paid to institutions during the year was as follows: Education for Life Sportsreach Royal British Legion NISCU United Christian Broadcasters The Way Church United Servants Cornerstone Church, Bentham CAP Lancaster & Morecambe Prison Fellowship Open Doors The total grants paid to individuals during the year was as follows: Individuals |
2024 £ 1,897 2024 £ 30,969 2024 £ - 3,121 20 900 - 250 - 11,000 750 819 819 17,679 2024 £ 13,290 |
2023 £ 233 2023 £ 14,618 |
|---|---|---|
| 2023 £ 600 600 40 700 40 - 111 - - - - |
||
| 2,091 | ||
| 2023 £ 11,035 |
4. Trustees' remuneration and benefits
Both the Lead Pastor and Associate Pastor (who are also Trustees) received remuneration for ministerial work done during the year. Rev C Murgu received gross pay of £31,616 (2023 - £30,141) and pension contributions of £2,370 (2023 - £2,070). Rev I Ellershaw received gross pay of £34,423 (2023 - £32,526) and pension contributions of £2,370 (2023 - £2,070).
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
4. Trustees' remuneration and benefits - continued
Trustees' expenses
The Trustees were reimbursed expenses of £798 (2023 - £282).
5. Staff costs
The average monthly number of employees during the year was as follows:
| Charitable activities No employees received emoluments in excess of £60,000. Comparatives for the statement of financial activities Income and endowments from Donations and legacies Charitable activities Church activities Investment income Other income Total Expenditure on Charitable activities Church activities Other Total NET INCOME Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted fund £ 168,167 - 233 1,040 169,440 137,902 2,999 140,901 28,539 509,786 538,325 |
|
|---|---|---|
6. Comparatives for the statement of financial activities
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
7. Tangible fixed assets
| Cost At 1 January 2024 Additions At 31 December 2024 Depreciation At 1 January 2024 Charge for year At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 Fixed asset investments Market value At 1 January 2024 and 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 |
Furniture Freehold and Computer property equipment equipment Totals £ £ £ £ 119,820 28,935 5,609 154,364 - 2,210 479 2,689 119,820 31,145 6,088 157,053 - 24,747 2,079 26,826 - 978 1,523 2,501 - 25,725 3,602 29,327 119,820 5,420 2,486 127,726 119,820 4,188 3,530 127,538 Shares in group undertakings £ 1 1 1 |
|---|---|
8. Fixed asset investments
There were no investment assets outside the UK.
9. Debtors: amounts falling due within one year
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Other debtors | 1,425,594 | 1,442,703 |
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
| 10. Creditors: amounts falling due within one year Bank loans and overdrafts (see note 12) Trade creditors Taxation and social security 11. Creditors: amounts falling due after more than one year Bank loans (see note 12) 12. Loans The bank loan was repaid in full on 8 March 2024. 13. Movement in funds Unrestricted funds General fund Restricted funds Gifts for specific purposes Building Food bank Ladies ministry TOTAL FUNDS |
At 1/1/24 £ 538,325 15 1,050,482 140 25 1,050,662 1,588,987 |
2024 £ - 2,182 1,067 3,249 2024 £ - Net movement in funds £ 130,914 (15) 1,380 - (25) 1,340 132,254 |
2023 £ 1,107 1,342 985 3,434 2023 £ 36,662 At 31/12/24 £ 669,239 - 1,051,862 140 - |
2023 £ 1,107 1,342 985 3,434 2023 £ 36,662 |
2023 £ 1,107 1,342 985 |
|---|---|---|---|---|---|
| 3,434 | |||||
| 1,052,002 | |||||
| 1,721,241 |
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
13. Movement in funds - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Gifts for specific purposes Building Soccer school Men's ministry Ladies ministry Youth TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Restricted funds Gifts for specific purposes Building Food bank Ladies ministry TOTAL FUNDS |
Incoming resources £ 291,838 3,344 1,380 6,267 4,959 160 460 16,570 308,408 At 1/1/23 £ 509,786 20 1,002,439 237 - 1,002,696 1,512,482 |
Resources expended £ (160,924) (3,359) - (6,267) (4,959) (185) (460) (15,230) (176,154) Net movement in funds £ 28,539 (5) 48,043 (97) 25 47,966 76,505 |
Movement in funds £ 130,914 (15) 1,380 - - (25) - 1,340 132,254 At 31/12/23 £ 538,325 15 1,050,482 140 25 1,050,662 1,588,987 |
|
|---|---|---|---|---|
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
13. Movement in funds - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Gifts for specific purposes Building Soccer school Food bank Ladies ministry TOTAL FUNDS |
Incoming resources £ 169,440 1,940 48,043 6,814 1 145 56,943 226,383 |
Resources Movement expended in funds £ £ (140,901) 28,539 (1,945) (5) - 48,043 (6,814) - (98) (97) (120) 25 (8,977) 47,966 (149,878) 76,505 |
|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Restricted funds Gifts for specific purposes Building Food bank TOTAL FUNDS |
At 1/1/23 £ 509,786 20 1,002,439 237 1,002,696 1,512,482 |
Net movement in funds £ 159,453 (20) 49,423 (97) 49,306 208,759 |
At 31/12/24 £ 669,239 - 1,051,862 140 |
|---|---|---|---|
| 1,052,002 | |||
| 1,721,241 |
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CARNFORTH FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
13. 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 Restricted funds Gifts for specific purposes Building Soccer school Food bank Men's ministry Ladies ministry Youth TOTAL FUNDS |
Incoming resources £ 461,278 5,284 49,423 13,081 1 4,959 305 460 73,513 534,791 |
Resources Movement expended in funds £ £ (301,825) 159,453 (5,304) (20) - 49,423 (13,081) - (98) (97) (4,959) - (305) - (460) - (24,207) 49,306 (326,032) 208,759 |
|---|---|---|
14. Related party disclosures
The charity provided a loan to CFMC Development Company Limited, a company of which the charity is the sole shareholder, to enable the company to undertake a building development. At the balance sheet date the amount due from CFMC Development Company Limited was £1,419,121 (2023 - £1,436,240).
The total donations made by the Trustees to the charity during the year amounted to £32,785 (2023 - £42,260).
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