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2023-08-31-accounts

Charity registration number

1127082

REIGATE METHODIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

REIGATE METHODIST CHURCH

CONTENTS

YEAR ENDED 31 AUGUST 2023

Page
Reference and administration details 1
Trustees’ report 2 to 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 to 12
Independent examiner’s report 13

REIGATE METHODIST CHURCH REFERENCE AND ADMINISTRATION DETAILS

YEAR ENDED 31 AUGUST 2023

Minister Rev Elisabeth Brooks
Managing trustees Mrs H J Austin
Rev G Baalham
Rev E Brooks
Mr M Burman
Mrs A Dorlandt (appointed 1stSeptember 2023)
Miss J Dyson
Mrs E Grant (appointed 1stSeptember 2023)
Ms E Gregory
Mr C F Hedderly
Mr J S Hill
Mr J Isaac
Mrs L Jobling
Mrs S Leppard
Mrs G Mason
Rev C McKie
Mrs A Miller (resigned 31stAugust 2023)
Mrs M Moore
Mrs E M Munro
Mrs S Nelson
Mr R Nelson
Mr G L Norman
Mrs R M Norman
Mrs P Palmer
Mr I Pattison
Mrs M V Pulfer
Mr J Pulfer
Ms E Rayner (resigned 7thMarch 2023)
Mrs L J Thompson
Mr S Tickell
Mrs S P Tucker (resigned 5thOctober 2023)
Mrs J Waters
Mr K Weatherald
Mr M Woods
Custodian trustee Trustees for Methodist Church Purposes
Central Buildings Oldham Street Manchester M1 1JQ
Principal Address High Street, Reigate, Surrey RH2 9AE
Bankers CAF Bank Limited
HSBC Bank PLC
Central Finance Board of the Methodist Church

1

REIGATE METHODIST CHURCH REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2023

The Trustees submit their annual report and unaudited financial statements for the year ended 31[st] August 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, 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 (FRS 102, effective 1 January 2019).

Structure, governance and management

Reigate Methodist Church is one of the five churches of the Redhill & East Grinstead Circuit within the South East District of the Methodist Church. It is governed by the Constitutional Practice and Discipline of the Methodist Church. It is a registered charity 1127082.

Rev. Elisabeth Brooks is the minister who has pastoral charge at Reigate Methodist Church, which has a membership of 124 people, plus 74 adherents. She chairs the Church Council which is the managing body of Reigate Methodist Church. It consists of 30 ex officio members and members elected at the church’s Annual Church Meeting. Church Council is responsible for setting policy and for monitoring adherence to policy. It is assisted by various committees and groups, including:

Trustees

Mrs H J Austin Rev G Baalham Rev E Brooks Mr M Burman Mrs A Dorlandt Miss J Dyson Mrs E Grant Ms E Gregory Mr C F Hedderly Mr J S Hill Mr J Isaac Mrs L Jobling Mrs S Leppard Mrs G Mason Rev C McKie Mrs A Miller Mrs M Moore

Mrs E M Munro Mrs S Nelson Mr R Nelson Mr G L Norman Mrs R M Norman Mrs P Palmer Mr I Pattison Mrs M V Pulfer Mr J Pulfer Ms E Rayner Mrs L J Thompson Mr S Tickell Mrs S P Tucker Mrs J Waters Mr K Weatherald Mr M Woods

2

REIGATE METHODIST CHURCH REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2023

Objectives, activities, achievements and performance

Reigate Methodist Church provides a service of Methodist worship every Sunday of the year as well as special services particularly at Christmas and Easter and during Lent. It provides for the introduction of children, young people and adults to the Christian faith and encourages the establishment of House Groups for members and adherents to explore aspects of faith together.

For those outside the church who wish to explore the Christian faith, the Taketime project was launched in 2016 and provides on-line meditation for all people. For those wishing to explore Church membership, an annual membership course is also run.

Reigate Methodist Church is committed to serving the people of Reigate, with an emphasis on the children, young people and the elderly of the local community. This is achieved by running children's activities such as Sunday school, youth groups and an annual Holiday Club week in the summer school holiday.

The church runs various fellowship groups with invited speakers and with bible study. Pastoral activity (including newsletters, phone calls and visits) aims to make sure that members of the church family who cannot visit the church itself are able to stay in touch.

By making available its premises, including the attached Reigate Community Centre which opened in April 2011, the needs of the community are met by organisations such as Alcoholics Anonymous, a children’s nursery and a variety of other health and leisure activities. The Hub café is open most days of the week. Further information is available on the Reigate Methodist Church and Reigate Community Centre web sites.

Public benefit reporting

The trustees have had due regard to the Charity Commission guidance on public benefit whilst setting the objectives and activities of the Charity.

Reserves policy

The church’s policy for unrestricted funds is to hold not less than 50% of annual expenditure in order to meet unexpected and unbudgeted demands, especially considering the age of the church building and the increase in regulatory requirements.

The policies for restricted funds are as follows:

Organ & Music Funds To make available funds to support the music life of the church including building a reserve to contribute to the cost of major overhaul to the organ and to assist in the training of organists.

Benevolence Fund To be used at the discretion of the minister for meeting urgent local need.

Risk assessment policy

The church maintains a risk register covering strategic, operational, financial and people risks. The register is reviewed and updated by the governing committees of the church and by Church Council. Specific policies and procedures exist covering areas such as health and safety, food hygiene, protection of children and vulnerable adults, and data protection.

3

REIGATE METHODIST CHURCH REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2023

nena Ev

Financial review

:

The church is funded by donations and regular contributions made by the congregation. This source of income amounted to £63,061 including Gift Aid (2022: £64,740). Rental income from the Community Centre amounted to £76,592 (2022: £55,136) which is significantly higher than the previous year, which was affected by the Covid epidemic.

The church held total funds of £2,481,026 (2022: £2,502,128) at the end of the year. The majority of the funds are held as fixed assets; at the year-end totalling £2,119,912 (2022: £2,145,596) as well as an accumulated surplus in restricted funds of £8,434 (2022: £8,424). The church therefore had free reserves at 31% August 2023 of £352,680 (2022: £348,108).

The Charity’s reserves are sufficient to maintain its activities for the foreseeable future.

Plans for future periods

Church Council meets regularly to discuss and approve annual budgets, initiatives to encourage membership, worship and faith, and maintenance of and improvements to the premises.

Statement of trustee responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & 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 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 Reports) Regulations 2008 and trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees on “v>S\ ILO20%)L+ and signed on their behalf by Rev E Brooks ScSues

Chair

4

REIGATE METHODIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2023

Unrestricted Restricted
Notes
funds
funds
£
£
INCOME FROM:
Donations and legacies
2
63,061
260
Investments
5
3,382
-
Other trading activities (Lettings)
76,592
-
Other
20,756
-
TOTAL INCOME
163,791
260
EXPENDITURE ON:
Charitable activities
3
182,558
250
TOTAL EXPENDITURE
182,558
250
Net (expenditure)/income before
(18,767)
10
gain on investments
Net (losses)/gains on investments
(2,345)
-
Net (expenditure)/income
(21,112)
10
Net movement in funds
(21,112)
10
Total funds brought forward at 1 September 2022
2,493,704
8,424
Total funds carried forward at 31 August 2023
2,472,592
8,434		 Total
funds
2023
£
63,321
3,382
76,592
20,756
164,051
182,808
182,808
(18,757)
(2,345)
(21,102)
(21,102)
2,502,128
2,481,026		 Total
funds
2022
£
64,759
2,361
55,136
14,124
136,380
159,860

159,860
(23,480)
(3,702)

(27,182)
(27,182)
2,529,310
2,502,128

5

REIGATE METHODIST CHURCH

BALANCE SHEET

AS AT 31 AUGUST 2023

sng

Notes 2023 2022
£ £
Fixed assets
Tangible fixed assets 7 2,119,912 2,145,596
Fixed asset investments 8 52,869 55,214
Current assets
Debtorsand prepayments 9 188,232 178,841
Cash at bankand in hand 122,567 157,641
310,799 336,481
Creditors: amounts fallingdue 10 (2,555) (35,163)
within one year
Netcurrentassets 308,244 301,318
Total assets less current liabilities 2,481,026 2,502,128
Funds
Restrictedfunds 12 8,434 8,424
:
Unrestricted funds
-
General		 11 2,462,934 2,470,681
-
Designated		 9,658 23,023
2,472,592 2,493,704
2,481,026 2,502,128

Approved by the Church Council on P<o\ 22060. LOZ4 and signed on behalf of the Council by

----- Start of picture text -----
Rev E Brooks Se Qo. lan Pattison | OW Vly.
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Chair Treasurer
----- End of picture text -----

The accompanying notes on pages 7 to 14 form part of these financial statements.

6

REIGATE METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

1 Principal accounting policies

Basis of preparation and assessment of going concern

The financial statements 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), and the Charities Act 2011.

The accounts 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 church constitutes as a public entity as defined by FRS 102.

Going Concern

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Income recognition

All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Donations are recognised when they have been communicated as received in writing with notification of both the amount and settlement date.

Legacies are recognised on a case by case basis following the granting of probate when the administrator/ executor for the estate has communicated in writing both the amount and settlement date.

Income from lettings is recognised in the Statement of Financial Activities in the period to which it relates.

Interest on funds held on deposit is included upon notification of the interest paid or payable by the Bank.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of resources. The trustees consider all costs to be incurred in the course of carrying out the charitable objectives and there are no support costs.

Grant making policy

Where the charity gives a grant, this is done so without performance conditions and therefore such grants are recognised in the Statement of Financial Activities when the commitment has been made.

Funds and reserves

Funds held by the charity are:

Unrestricted funds – these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Designated funds – these are funds made up of monies set aside by the charity out of unrestricted funds for specific future purposes or projects.

Restricted funds – these are funds that 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.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

7

REIGATE METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Creditors are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Donations and volunteers

A certain amount of time is expended on the charity’s activities, which is donated free of charge. It is not possible to quantify the value of time given and accordingly it is neither recorded as donated income or as an expense in the financial statements.

Fixed assets

Fixed assets are included in the balance sheet at cost. Large items are capitalised in the accounts at the discretion of the Trustees. Depreciation is calculated on the cost (excluding land), less estimated residual value over its useful life as follows:

Buildings 50 years straight line Equipment 4 years straight line

2 Donations and legacies

Total Total
Unrestricted Restricted funds funds
funds
funds		 2023 2022
£
£		 £ £
Maintenance & restoration fund -
-		 - 6,474
Sundry donations and collections income 50,198
260		 50,458 47,828
Gift Aid received and receivable 12,863
-		 12,863 10,457
Legacy -
-		 - -
63,061
260		 63,321 64,759

In 2022, income attributable to Restricted funds totalled £19.

8

REIGATE METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

3 Resources expended

Unrestricted Restricted
funds
funds
£
£
Charitable activities
Circuit assessment
60,000
-
Grants and donations
1,808
250
Repairs, maintenance and cleaning
52,963
-
Insurance and utilities
22,109
-
Church and ministry sundries
15,271
-
Depreciation
28,437
-
Independent exam fee
1,970
-
182,558
250		 Total
funds
2023
£
60,000
2,058
52,963
22,109
15,271
28,437
1,970
182,808		 Total
funds
2022
£
60,000
1,200
38,500
19,000
15,034
24,506
1,620

159,860

In 2022, expenditure attributable to the restricted fund totalled £400.

4 Trustee remuneration

The trustees have received no remuneration or expenses from the Charity during the year and the previous year.

Employee remuneration - 2023 2022
£ £
Wages and salaries - -
Average number of staff employed weekly - -
No employee earned at a rate greater than £60,000 per annum (2022: Nil).

5 Investment income

Interest received on deposit accounts 2023
£
3,382
3,382		 2022
£
2,360
2,360

6 Corporation tax

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent these are applied to its charitable objects.

9

REIGATE METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

7 Fixed assets

7 Fixed assets
Cost
At 1 September 2022
Additions
At 31 August 2023
Depreciation
At 1 September 2022
Charge for the year
At 31 August 2023
Net book value
At 31 August 2023
At 31 August 2022		 Land and
Buildings
Equipment
Total
£
£
£
2,307,948
178,070
2,486,018
-
2,753
2,753


2,307,948
180,823
2,488,771
197,061
143,361
340,422
17,968
10,469
28,437



215,029
153,830
368,859
2,092,919
26,993
2,119,912



2,110,887
34,709
2,145,596

The property title is held by Trustees for Methodist Church Purposes as custodian trustee. The property is incorporated into the financial statements in accordance with agreed guidance.

8 Fixed asset investment

There is a single investment with the Methodist Central Finance Board Managed Mixed Fund.

2023 2022
£ £
Market value at start of year 55,214 58,916
Net unrealised (losses) / gains (2,345) (3,702)
Value at cost at end of year 52,869 55,214
9 Debtors 2023 2022
£ £
Loan to YMCA East Surrey 150,000 150,000
Debtors and prepayments 38,232 28,841
188,232 178,841
Included within Debtors is a loan to YMCA East Surrey which is due greater than 1 year.
10 Creditors: amounts falling due within one year 2023 2022
£ £
Creditors and accruals 2,554 35,164

10

REIGATE METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

11 Funds

11 Funds
Unrestricted
Unrestricted
Restricted
general
designated
funds
funds
funds
£
£
Balance brought forward at 1 September 2022
2,470,681
23,023
8,424
(Deficit)/Surplus for the year
(7,747)
(13,365)
10
Transfers between funds
-
-
-
Balance carried forward at 31 August 2023
2,462,934
9,658
8,434
11a Funds prior year
Unrestricted
Unrestricted
Restricted
general
designated
funds
funds
funds
£
£
Balance brought forward at 1 September 2021
2,502,916
18,589
7,805
(Deficit)/Surplus for the year
(25,395)
(1,406)
(381)
Transfers between funds
(6,840)
5,840
1,000
Balance carried forward at 31 August 2022
2,470,681
23,023
8,424
12 Restricted funds
Brought
Income
Expenditure
Forward
£
£
£
Benevolence fund
2,133
0
(250)
Organ & Music fund
4,081
100
-
Organist training
2,210
160
-
8,424
260
(250)
12a Restricted funds prior year
Brought
Income
Expenditure
Forward
£
£
£
Benevolence fund
2,514
19
(400)
Organ & Music fund
3,081
1,000
-
Organist training
2,210
-
-
7,805
1,019
(400)		 Total
funds
£
2,502,128
(21,102)
-
2,481,026
Total
funds
£
2,529,310
(27,182)
-
2,502,128
Carried
Forward
£
1,883
4,181
2,370
8,434
Carried
Forward
£
2,133
4,081
2,210
8,424
8,424

The restricted funds are as follows:

The designated fund is monies put aside by the charity for the purpose of large refurbishments.

11

REIGATE METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

13 Analysis of net assets between funds

13 Analysis of net assets between funds
Unrestricted Restricted Total funds
funds funds 2023
£ £ £
Fixed assets 2,119,912 - 2,119,912
Fixed asset investment 52,869 - 52,869
Debtors 188,232 - 188,232
Cash at bank and in hand 114,133 8,434 122,567
Creditors: amounts falling due within one year (2,554) - (2,554)
2,472,592 8,434 2,481,026

13a Analysis of net assets between funds prior year

13a Analysis of net assets between funds prior year
Unrestricted Restricted Total funds
funds funds 2022
£ £ £
Fixed assets 2,145,596 - 2,145,596
Fixed asset investment 55,214 - 55,214
Debtors 178,841 - 178,841
Cash at bank and in hand 149,217 8,424 157,641
Creditors: amounts falling due within one year (35,164) - (35,164)
2,493,704 8,424 2,502,128

14 Related party transactions

There were no related party transactions in the year that require disclosure under SORP 2019 (FRS 102).

12

REIGATE METHODIST CHURCH

INDEPENDENT EXAMINER’S REPORT

FOR THE YEAR ENDED 31 AUGUST 2023

Independent Examiner's Report to the Trustees of Reigate Methodist Church

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2023.

This report is made solely to the Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) regulations 2008. My work has been undertaken so that I might state to the Trustees those matters I am required to state to them in an Independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for my work or for this report.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011.

Having satisfied myself that the accounts of the charity are not required to be audited and are eligible for an independent examination, I report in respect of my examination of the charity’s accounts carried out under section 145 of the Charities Act 2011(‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(B) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. 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.

(aloe Usain LLP

James Peach BSc FCA

For and on behalf of Kreston Reeves LLP

Chartered Accountants Springfield House Springfield Road Horsham

West Sussex RH12 2RG

Date: 28.4.2024

13