**Charity registration number** **1127082** **REIGATE METHODIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024** **REIGATE METHODIST CHURCH** ## **CONTENTS** ## **YEAR ENDED 31 AUGUST 2024** ||**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 2024** |**Minister**|Rev Elisabeth Brooks| |---|---| |**Managing trustees**|Mrs H J Austin| ||Rev G Baalham| ||Rev E Brooks| ||Mrs K Burman (appointed 14thApril 2024)| ||Mr M Burman| ||Mrs A Dorlandt (appointed 1stSeptember 2023)| ||Mrs M Gordon (appointed 14thApril 2024)| ||Mrs E Grant (appointed 1stSeptember 2023)| ||Ms E Gregory| ||Mr C F Hedderly (resigned 31stAugust 2024)| ||Mr J S Hill| ||Mr J Isaac (resigned 31stAugust 2024)| ||Mrs K Jefferies (appointed 1stJune 2024)| ||Mrs L Jobling| ||Mrs S Leppard| ||Mrs G Mason| ||Rev C McKie| ||Mrs M Moore (resigned 30thApril 2024)| ||Mrs P Mullan (appointed 14thApril 2024)| ||Mrs E M Munro (resigned 31stAugust 2024)| ||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| ||Mrs A Rayner (appointed 28thApril 2024)| ||Ms E Smith (appointed 21stJuly 2024)| ||Mrs J Strydom (appointed 14thApril 2024)| ||Mrs L J Thompson| ||Mr S Tickell| ||Mrs J Waters| ||Mr K Weatherald (resigned 31stAugust 2024)| ||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 2024** The Trustees submit their annual report and unaudited financial statements for the year ended 31[st] August 2024. 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 126 people, plus 79 adherents. She chairs the Church Council which is the managing body of Reigate Methodist Church. It consists (currently) of 32 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: - Church stewards – working with the minister to plan and implement church activity - Property Committee – maintaining the buildings, ensuring compliance with legislation - Finance Committee – preparing budgets, scrutinising financial activity - Pastoral groups – care and support for the church family ## **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. 2 **REIGATE METHODIST CHURCH** **REPORT OF THE TRUSTEES** ## **YEAR ENDED 31 AUGUST 2024** ## **Reserves policy** The church’s policy for unrestricted funds is to hold not less than 50% of annual budgeted regular 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 Benevolence Fund 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. 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. ## **Financial review** The church is funded by donations and regular contributions made by the congregation. This source of income amounted to £77,151 including Gift Aid (2023: £63,321). Rental income from the Community Centre amounted to £82,132 (2023: £76,592). The church held total funds of £2,499,051 (2023: £2,481,026) at the end of the year. The majority of the funds are held as fixed assets; at the year-end totalling £2,138,977 (2023: £2,119,912) as well as an accumulated surplus in restricted funds of £8,334 (2023: £8,434). The church therefore had free reserves at 31[st] August 2024 of £351,740 (2023: £352,680). 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: 3 REIGATE m￿HoDIST CHURCH REPORT OF THE TRUSTEES YEAR ENDED 31 AUGUST 2024 select suitable accounting policies and then apply them consistently,. observe the methods and principles of the Chari(ies SORP IFRS 1021., make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material departure5 disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the association will continue in business. The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at anv 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 irregularitie5. Approved by the trustees on 25 February 2025 Rev E Brooks and signed on their behalf bv Chair **REIGATE METHODIST CHURCH** **STATEMENT OF FINANCIAL ACTIVITIES** ## **FOR THE YEAR ENDED 31 AUGUST 2024** |Unrestricted Restricted
Notes
funds
funds
£
£
**INCOME FROM:**
Donations and legacies
2
77,151
-
Investments
5
5,600
-
Other trading activities (Lettings)
82,132
-
Other
19,413
**-**
**TOTAL INCOME**
184,296
-
**EXPENDITURE ON:**
**Charitable activities**
3
170,261
100
**TOTAL EXPENDITURE**
170,261
100
**Net income / (expenditure) before**
**14,035**
**(100)**
**gain on investments**
Net gains / (losses) on investments
4,090
-
**Net income / (expenditure)**
18,125
(100)
**Net movement in funds**
18,125
(100)
Total funds brought forward at 1 September 2023
2,472,592
8,434
**Total funds carried forward at 31 August 2024**
2,490,717
8,334|**Total**
**funds**
**2024**
**£**
**77,151**
**5,600**
**82,132**
**19,413**
**184,296**
**170,361**
**170,361**
**13,935**
**4,090**
**18,025**
**18,025**
2,481,026
**2,499,051**|_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_| |---|---|---| 5 REIGATE METHODIST CHURCH BALANCE SHEET ASAT31AUGUST 2024 Notes 2024 2023 Fixed as5et5 Tangible fixed assets 2,138,977 2,119,912 Fixed asset investments 56.960 52,869 Current assets Debtors and prepayments Cash at bank and in hand 190,440 125 171 188,232 122 567 315 611 310 799 Creditors: amounts falling due within one year io Net current assets 303,114 308,244 Total assets less curient liabilities Funds Restrirted lunds Unrestrirted funds 12 8,334 8,434 General Designated li 2,467,608 23,109 2,462,934 9,658 2 490 717 2 472 592 Approved by the Church Council on and signed on behalf of the Councll by zg l.-Iz02£. Rev E Brooks lan Pattison iliIIL 2025 Chair Treasurer The accompanying notes on pages 7 to 13 form part of these financial statements. **REIGATE METHODIST CHURCH** **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 AUGUST 2024** ## **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 2024** ## **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** |Unrestricted Restricted
funds
funds
£
£
Sundry donations and collections income
62,566
-
Gift Aid received and receivable
14,585
-
77,151
-|**Total**
**funds**
**2024**
**£**
**62,566**
**14,585**
**77,151**|_Total_
_funds_
_2023_
_£_
_50,458_
_12,863_| |---|---|---| |||_63,321_| In 2023, income attributable to Restricted funds totalled £260. 8 **REIGATE METHODIST CHURCH** **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 AUGUST 2024** ## **3 Resources expended** |Unrestricted Restricted
funds
funds
£
£
**Charitable activities**
Circuit assessment
60,000
-
Grants and donations
1,300
100
Repairs, maintenance and cleaning
42,700
-
Insurance and utilities
25,593
-
Church and ministry sundries
11,610
-
Depreciation
26,958
-
Independent exam fee
2,100
-
170,261
100|**Total**
**funds**
**2024**
**£**
**60,000**
**1,400**
**42,700**
**25,593**
**11,610**
**26,958**
**2,100**
**170,361**|_Total_
_funds_
_2023_
_£_
_60,000_
_2,058_
_52,963_
_22,109_
_15,271_
_28,437_
_1,970_
_182,808_| |---|---|---| In 2023, expenditure attributable to the restricted fund totalled £250. ## **4 Trustee remuneration** The trustees have received no remuneration or expenses from the Charity during the year and the previous year. |Employee remuneration -|**2024**|_2023_| |---|---|---| ||**£**|_£_| |Wages and salaries|**-**|-| |Average number of staff employed weekly|**-**|-| |No employee earned at a rate greater than £60,000 per annum (2023: Nil).||| ## **5 Investment income** |Interest and dividends received|**2024**
**£**
5,600
**5,600**|_2023_
_£_
_3,382_
_3,382_| |---|---|---| ## **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 2024** ## **7 Fixed assets** |**Cost**
At 1 September 2023
Additions
At 31 August 2024
**Depreciation**
At 1 September 2023
Charge for the year
At 31 August 2024
**Net book value**
**At 31 August 2024**
At 31 August 2023|**Land and**
**Buildings**
**Equipment**
**Total**
**£**
**£**
**£**
2,307,948
180,823
2,488,771
-
46,023
46,023
2,307,948
226,846
2,534,794
215,029
153,830
368,859
17,968
8,990
26,958
232,997
162,820
395,817
**2,074,951**
**64,027**
**2,138,977**
2,092,919
26,993
2,119,912| |---|---| 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. ||**2024**|_2023_| |---|---|---| ||**£**|_£_| |Market value at start of year|52,869|_55,214_| |Net unrealised (losses) / gains|4,090|_(2,345)_| |Value at cost at end of year|**56,960**|_52,869_| |**9 Debtors**|**2024**|_2023_| ||**£**|_£_| |Loan to YMCA East Surrey|150,000|_150,000_| |Debtors and prepayments|40,440|_38,232_| ||**190,440**|_188,232_| |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**|**2024**|_2023_| ||£|_£_| |Creditors and accruals|**12,497**|_2,554_| 10 **REIGATE METHODIST CHURCH** **NOTES TO THE FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED 31 AUGUST 2024** ## **11 Funds** |Unrestricted
general
funds
Balance brought forward at 1 September 2023
2,462,934
(Deficit)/Surplus for the year
24,674
Transfers between funds
(20,000)
Balance carried forward at 31 August 2024
2,467,608
**11a Funds prior year**
Unrestricted
general
funds
_Balance brought forward at 1 September 2022_
_2,470,681_
_(Deficit)/Surplus for the year_
_(7,747)_
_Transfers between funds_
_-_
_Balance carried forward at 31 August 2023_
_2,462,934_
**12 Restricted funds**
Brought
Forward
£
Benevolence fund
1,883
Organ & Music fund
4,181
Organist training
2,370
8,434
**12a Restricted funds prior year**
Brought
Forward
£
_Benevolence fund_
_2,133_
_Organ & Music fund_
_4,081_
_Organist training_
_2,210_
_8,424_|Unrestricted
Restricted
designated
funds
funds
£
£
9,658
8,434
(6,549)
(100)
20,000
-
23,109
8,334
Unrestricted
Restricted
designated
funds
funds
£
£
_23,023_
_8,424_
_(13,365)_
_10_
_- _
_-_
_9,658_
_8,434_
Income
Expenditure
£
£
-
(100)
-
-
-
-
-
(100)
Income
Expenditure
£
£
_-_
_(250)_
_100_
_-_
_160_
_-_
_260_
_(250)_||Total
funds
£
**2,481,026**
**18,025**
-
**2,499,051**
Total
funds
£
_2,502,128_
_(21,102)_
_-_
_2,481,026_
Carried
Forward
£
**1,783**
**4,181**
**2,370**
**8,334**
Carried
Forward
£
_1,883_
_4,181_
_2,370_
_8,434_| |---|---|---|---| ||||| The restricted funds are as follows: - Organ & Music, Organist training: 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: To be used at the discretion of the Minister for meeting urgent, local need 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 2024** ## **13 Analysis of net assets between funds** |**13 Analysis of net assets between funds**|||| |---|---|---|---| ||Unrestricted|Restricted|**Total funds**| ||funds|funds|**2024**| ||£|£|**£**| |Fixed assets|2,138,977|-|**2,138,977**| |Fixed asset investment|56,960|-|**56,960**| |Debtors|190,440|-|**190,440**| |Cash at bank and in hand|116,837|8,334|**125,171**| |Creditors: amounts falling due within one year|(12,497)|-|**(12,497)**| ||2,490,717|8,334|**2,499,051**| ## **13a Analysis of net assets between funds prior year** |**13a Analysis of net assets between funds prior year**|||| |---|---|---|---| ||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| ## **14 Related party transactions** There were no related party transactions in the current or prior year that require disclosure under SORP 2019 (FRS 102). 12 **REIGATE METHODIST CHURCH** **INDEPENDENT EXAMINER’S REPORT** ## **FOR THE YEAR ENDED 31 AUGUST 2024** ## **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 2024. 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. ## **James Peach BSc FCA** **For and on behalf of Kreston Reeves LLP** **Chartered Accountants Springfield House Springfield Road Horsham West Sussex RH12 2RG** **Date:** 14 March 2025 13