Church Accruals Accounts 2022-2023
THE METHODIST CHURCH REPORT AND ACCOUNTS
(ACCRUALS BASIS)
for the year ended 31 August 2023
The Methodist Church - Letchworth Garden City (incorporating Central and Norton Methodist Churches)
Registered Charity - Registration number 1127225 ~~a~~
| Circuit No: 34/15 North Hertfordshire Circuit ~~po~~ |
Circuit No: 34/15 North Hertfordshire Circuit ~~po~~ |
Circuit No: 34/15 North Hertfordshire Circuit ~~po~~ |
Circuit No: 34/15 North Hertfordshire Circuit ~~po~~ |
Circuit No: 34/15 North Hertfordshire Circuit ~~po~~ |
|---|---|---|---|---|
| Minister: | Reverend Emmanuel Onabanjo | |||
| Church Stewards: | Roger Harrison | |||
| Richard Allen | ||||
| Vida Blankson | ||||
| Gill Knowles | ||||
| George Mather | ||||
| Valerie Mumford | ||||
| Caroline Howard | ||||
| Church Treasurer: | Jonathan Battarbee |
Page 1
The Methodist Church - Letchworth Garden City TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2023
Introduction
Structure, governance and management:
We are governed according to the "Constitutional Practice and Discipline of the Methodist Church". Within the Methodist Church we belong to the North Hertfordshire Circuit, which in turn is part of the Bedfordshire, Essex & Hertfordshire District.
Our governing body is the Church Council, which meets twice yearly usually in February and October. Trustees are generally appointed ex officio from leadership of various Church
organisations, with provision for six others. There are committees to oversee Finance and Property, Outreach and Pastoral matters with social and other events organised by the Church Leadership Team.
Aims and objectives:
Our objectives are in line with those of the Methodist Church which are: -
Worship - The Church exists to increase awareness of God’s presence and to celebrate God’s love. Learning & Caring - The Church exists to help people to grow and learn as Christians, through mutual support and care.
Service - The Church exists to be a good neighbour to people in need and to challenge injustice. Evangelism - The Church exists to make more followers of Jesus Christ.
Page 2
Review of the year:
This has been a challenging year for the Letchworth congregations as for the entire year we have been without a regular minister. The minister in Stevenage who was given pastoral care over our churches also had to look after four churches of his own, so while we are grateful for his friendly guidance and help, we had to rely heavily on our lay preachers to fill the gaps in the preaching plan, and on our hard working pastoral secretary and her team of visitors who kept in touch with our more vulnerable members.
We are also grateful to our technologically gifted members who produce and distribute the weekly services in CD format to our housebound members, publish it on our website, and who run a daily Zoom chat session and a weekly social. All these activities bind us together as a community.
Three events are worth highlighting:
1) From November to Easter, we opened the Central church as a “Warm Space” on Fridays for the benefit of people living in cold houses due to the energy price inflation. With the coming of warmer weather, the session on Fridays has transformed itself into a lively and well attended “Soup and Scripture” meeting.
2) In June, Norton hosted the Knitted Bible exhibition, a remarkable collection of scenes from the Bible using knitted figures. The Knitted Bible tours the country, and the condition on churches wanting to host it is that they should contribute one new scene; so the exhibition is continually growing.
3) We were able to have the main hall at Letchworth Central completely redecorated. Visitors and users of our premises both at Central and at Norton appreciate the high standard to which they are maintained.
Our buildings remain well used, with our own toddler groups at both sites and our Brigades meeting each week. A wide range of users from within the town – slimmers, amateur dramatics, yoga, table tennis, gardeners and choirs, to name a few, regularly use the premises.
In view of the numbers of children and vulnerable adults in our care, safeguarding is taken extremely seriously and all office holders have had the DBS checks and the necessary level of training according to the Methodist Church’s requirements.
A number of our more elderly members are becoming housebound or moving into care and we will be seeking ways to attract newcomers to increase our congregations.
Page 3
Plans for 2023-24
We now have a new Minister arrived from Nigeria, who will bring new ideas and a new cultural outlook to our life as a community. We will endeavour to become more outward looking in bringing the Word of God to our wider community, making more use of an improved website and social media presence.
Total income £165.5k (2021-22 £138.3k) reflected both a full year with no detrimental COVID-19 impact on lettings and internal organisations' activities (combined £47.4k vs £35.3k 2021-22), and increased interest rates generating additional investment income (£13.7k vs £1.6k 2021-22). Legacies of £15.7k were received during the year (2021-22 £13.7k). Expenditure £124.1k (2021-22 £132.6k) was lower than 2021-22, despite inflationary pressures, mainly due to no further contribution being made to the Pension Reserve Fund (£0k vs £13k 2021-22), and a lower Circuit assessment (£65.9k vs £71.2k 2021-22). This produced a surplus of £41.4k (2021-22 £5.7k). The readily available reserves carried forward amount to £446.3k (2021-22 £404.9k). The Trustees have every reason to believe that the Church is a going concern as there are sufficient members and supporters contributing regularly to meet commitments and liabilities. The Church owns the freehold properties of Central Methodist Church and Norton Methodist Church. Other investments are held in cash deposits which are readily available reserves. There were no unrealised gains.
Page 4
The Methodist Church - Letchworth Garden City
Trustee’s Annual Report on Finance and Governance
Basis of preparation and legal framework
The Charity’s annual report and accounts for the year ended 31 August 2023 have been prepared in accordance with SORP (FRS102) as updated, being the current version of Accounting and Reporting by Charities: Statement of Recommended Practice.
Full Name of Charity/Church: The Methodist Church - Letchworth Garden City
formerly known as Central Methodist Church - Letchworth Garden City
Registration Charity Number: 1127225
Date of original registration: 17 December 2008 Name change effective: 01 September 2018
Main communication address: Central Methodist Church, Pixmore Way,
Letchworth Garden City, Hertfordshire SG6 3TR
The members of The Methodist Church - Letchworth Garden City Church Council are the Charity Trustees, who normally meet two times each year in February and October. Membership is made up of church office holders, Minister and representatives appointed by the church at the Annual Church Meeting.
The full list of Church Council members and key lay employees are shown on page 8 of this report.
Treasurer: Jonathan Battarbee
Independent examiner: Christopher Maylin FCA
Investment Bankers: Central Finance Board of the Methodist Church Trustees for Methodist Church Purposes
Page 5
The Methodist Church - Letchworth Garden City
Aims and organisation
Our mission is to be a powerful spiritual influence in the community and a visible expression of God’s inclusive love. We aim to achieve this by encouraging worship, social, and outreach activities that currently exist, and seeking new ways to extend to others the fellowship of the Church family. We aim to be:
A Church that welcomes people.
A Church that believes in discipleship and mission.
A Church that does ecumenism.
A Church that rejoices in introducing people to Jesus Christ
A Church that does not mind which church you go to as long as you go.
Through these, we seek to develop the life of the Church in Letchworth Garden City.
The purposes of the Methodist Church are and shall be deemed to have
been since the Date of Union the advancement of:
a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;
b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church;
c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;
d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church
Worshiping God through prayer, song and other worship activities. The organisation and resourcing of regular public acts of worship open to members of the church and non members alike.
The teaching and learning of the Christian faith through sermons, courses and small groups.
The resourcing of pastoral work including visiting the sick and bereaved.
Taking religious assemblies in local schools.
Promotion of Christianity through the staging of events and services.
Provision of chaplaincy services to local schools, care homes and other institutions as appropriate and when able.
Public Benefit
We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.
Structure, Governance and Management
The governing document for the Church is the Deed of Union (1932) and Methodist Church Act (1976)
Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).
Day to day management of the church is undertaken by the Church Leadership team along with the Minister.
The Trustees are appointed at the Annual Church Meeting.
Page 6
The Methodist Church - Letchworth Garden City
Trustees' Responsibilities
For each financial year ending on 31 August the Trustees are required to prepare financial statements that give a true and fair view of the Church's financial activities during the year and of its financial position at the end of the year and to prepare an annual report for that year. In preparing these financial statements, the Trustees have:
-
selected suitable accounting policies and applied them consistently using the accruals method
-
made judgements and estimates that are reasonable and prudent
-
followed the applicable SORP and accounting standard, SORP(FRS102) as updated
-
adopted the going concern basis
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Church and enables them to ensure that the financial statements comply with the law. They are also responsible for safeguarding the assets of the Church and ensuring their proper application under charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Church's web site. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and trustees' reports may differ from legislation in other jurisdictions.
Page 7
The Methodist Church - Letchworth Garden City
CHURCH COUNCIL MEMBERSHIP & KEY LAY WORKERS
| MINISTER | Reverend Emmanuel | Onabanjo | Chair (ex officio) | |
|---|---|---|---|---|
| LAY WORKERS | Hazel Beadle | |||
| Appointed | Appointed | |||
| CHURCH STEWARDS | Richard Allen | 22/05/2022 | Gill Knowles | 22/05/2022 |
| Vida Blankson | 13/05/2018 | George Mather | 12/03/2011 | |
| Roger Harrison | 12/03/2011 | Valerie Mumford | 05/02/2019 | |
| Caroline Howard | 21/05/2023 | |||
| CHURCH SAFEGUARDING OFFICER: | Ruth Lowe |
OTHER MEMBERS OF THE CHURCH COUNCIL
| Appointed | Appointed | |||
|---|---|---|---|---|
| 1. | Graham Albone | 05/11/2018 | 14. Anita Latter | 12/03/2011 |
| 2. | Gail Aldridge | 05/11/2018 | 15. David Latter | 07/07/2019 |
| 3. | Katie Allwright | 15/05/2016 | 16. Ruth Lowe | 21/05/2023 |
| 4. | Jonathan Battarbee | 12/03/2011 | 17. John McKean | 12/03/2011 |
| 5. | Cheryl Bidnell | 12/03/2011 | 18.Christopher Parker | 12/03/2011 |
| 6. | Steven Brown | 12/03/2011 | 19. Jennifer Rogers | 15/05/2012 |
| 7. | Linda Cain | 05/11/2018 | 20.Peter Rogers | 21/05/2023 |
| 8. | Rebecca Carter | 03/02/2016 | 21.John Sharman | 12/03/2011 |
| 9. | Christine Druce | 12/03/2011 | 22.Paul Sharman | 12/03/2011 |
| 10. | Neil Gibbens | 17/01/2018 | 23.David Smith | 21/05/2023 |
| 11. | Kenneth Gibbs | 12/03/2011 | 24.Sally Woodhouse | 12/03/2011 |
| 12. | Malcolm Knowles | 05/11/2018 | 25.Susan Woodhouse | 12/03/2011 |
| 13. | Patricia Lander | 12/03/2011 |
Trustee Training
A range of guidance produced by Methodist Connexion to support the effective running of the church and the role of Trustees is given to the Church Trustees at various meetings and/or training sessions.
Related Parties
The Church is part of the North Hertfordshire Circuit, which is part of the Bedfordshire, Essex and Hertfordshire District and is also accountable to the Methodist Conference. None of the trustees made a gift of land or substantial other asset to the Church during the year or seek to influence the Trustees.
Internal organisations linked to this church are:
1st Letchworth Garden City Boys' Brigade 2nd Letchworth Garden City Girls' Brigade Butterfly Club Central Band Central Tea & Toddlers Little Squirells Toddler Group Lunch @ Norton
Page 8
The Methodist Church - Letchworth Garden City
Risk Management
The major risks have been identified and recorded by the Trustees with professional advice taken as required. There is a regular annual review process undertaken and recorded.
Income and Expenditure is being monitored in total and is compared with the approved annual budget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.
Safeguarding
It is the Methodist Church’s intention to value every human being as part of God’s creation and the whole people of God. At the heart of the Methodist community is a deep sense of the place of welcome, hospitality and openness, which demonstrates the nature of God’s grace and love for all.
Our church communities are called to be places where the transformational love of God is embodied and life in all its fullness is a gift, which is offered to all people.
Principles:
Safeguarding is about the action the Church takes to promote a safer culture. This means we will:
-
promote the welfare of children, young people and adults
-
work to prevent abuse from occurring
-
seek to protect and respond well to those that have been abused.
-
We are committed to:
-
the care and nurture of, and respectful pastoral ministry with, all children, young people and adults
-
safeguarding and protecting all children, young people and adults when they are vulnerable
-
establishing safe, caring communities, which provide a loving environment where there is informed vigilance as to the dangers of abuse.
We will carefully select and train all those with any responsibility within the church, in line with safer
recruitment principles, including the use of criminal records checks through the Disclosure and Barring Service (DBS) and The Protecting Vulnerable Groups (PVG) scheme in Scotland.
We will respond without delay to every safeguarding concern, which suggests that a child, young person or adult may have been harmed, working in partnership with the police and social services in any investigation. We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care.
We will seek to challenge any abuse of power, especially by anyone in a position of trust.
Working with the Church Safeguarding Officer, we will support risk assessment of those who present a safeguarding risk within a church environment. We will ensure appropriate pastoral care is offered and measures are taken to address identified risks including referral to statutory agencies, suspension and the use of safeguarding contracts.
In all these principles, we will follow legislation, guidance and recognised good practice.
Reserves Policy
The Reserves Policy for the Church is to hold a minimum sum equivalent to six months’ average expenditure. The Designated Property Fund should be sufficient to meet any unforeseen item of major expenditure on the church building to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full expenses including the assessment payable to the Circuit.
We have only one direct employee below NI/tax threshold and therefore no requirement to provide for redundancy.
Page 9
The Methodist Church - Letchworth Garden City Registration Charity Number: 1127225
Statement of Financial Activities (SOFA) for the year ended 31 August 2023
| Notes to the accounts |
Unrestricted funds |
Restricted Funds |
Total 2022-23 |
Total 2021-22 |
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Income and Endowments from: | |||||
| Donations and legacies | 4 | 103,829 | 101,279 | ||
| - Collections and Gift Aid | 74,340 | 74,340 | 74,273 | ||
| - Donations | 13,826 | 13,826 | 13,349 | ||
| - Legacies | 15,662 | 15,662 | 13,657 | ||
| Charitable activities | 5 | - | - | ||
| - Fund raising | - | - | |||
| - Other | - | - | |||
| Other trading activities | 6 | - | 36,286 | 32,565 | |
| - Lettings | 36,286 | 36,286 | 32,565 | ||
| - Miscellaneous | - | - | |||
| Investments | 7, 13 | 11,308 | 2,409 | 13,717 | 1,638 |
| Other | 8 | - | 11,717 | 2,776 | |
| - Internal organisations | 18 | 11,104 | 11,104 | 2,776 | |
| - Miscellaneous | 613 | 613 | - | ||
| Total | 147,478 | 18,071 | 165,549 | 138,258 | |
| Expenditure on: | |||||
| Salaries, NIC & Pension costs | - | - | |||
| Circuit Assessment | 65,850 | 65,850 | 71,168 | ||
| Maintenance on Church building(s) and property | 11 | 21,134 | 21,134 | 21,069 | |
| Telephone and Travel | - | - | |||
| Utilities (insurance, heat and light, water, etc) | 18,442 | 18,442 | 16,311 | ||
| Expenditure on other property | - | - | |||
| Depreciation | 12 | - | - | ||
| Provisions - Pension Reserve Fund | - | - | 13,000 | ||
| Internal organisations | 18 | 7,832 | 7,832 | 3,659 | |
| Grants and Donations | 19 | 8,179 | 8,179 | 5,587 | |
| Other expenditure | 2,486 | 176 | 2,663 | 1,804 | |
| Total | 123,923 | 176 | 124,100 | 132,598 | |
| Other recognised gains / (losses): | |||||
| Gains/(Losses) on revaluation of fixed assets | - | - | |||
| Gains/(Losses) on investment assets | |||||
| Actuarial gains /(losses) on defined benefit pension schemes |
- | - | |||
| Net income/(expenditure) | 23,555 | 17,894 | 41,449 | 5,660 | |
| Transfers between funds | 18 | - | - | - | - |
| Net movement in funds | 23,555 | 17,894 | 41,449 | 5,660 | |
| Reconciliation of funds: | |||||
| Total funds brought forward | 343,024 | 3,061,864 | 3,404,888 | 3,399,225 | |
| Total funds carried forward | 366,579 | 3,079,758 | 3,446,337 | 3,404,885 |
For information only - Money received and passed on to External Organisations Balance brought forward from last year
Offerings/Gifts - received for External Organisations Offerings/Gifts - passed to External Organisations
| - | 7 |
|---|---|
| 3,194 | 7,205 |
| 3,171 | 7,212 |
| 23 | - |
Balance carried forward
Page 10
The Methodist Church - Letchworth Garden City
Registered Charity No. 1127225
Balance Sheet as at 31 August 2023
| Tangible Fixed Assets Notes* |
Tangible Fixed Assets Notes* |
Unrestricted £ |
Designated (Unrestricted) |
Restricted £ |
Totals this year £ |
Totals this year £ |
Totals last year £ |
|---|---|---|---|---|---|---|---|
| Land & Buildings | 12 | 3,000,000 | 3,000,000 | 3,000,000 | |||
| Equipment | |||||||
| Investmentproperties | |||||||
| Investments | |||||||
| Total fixed assets | 3,000,000 | 3,000,000 | 3,000,000 | ||||
| Current Assets | |||||||
| Debtors and Prepayments | 14 | 23,512 | 962 | 24,475 | 8,854 | ||
| Cash at Bank and in hand | 14 | 2,111 | 5,021 | 7,131 | 5,869 | ||
| Trustees for Methodist Church Purposes |
79,758 | 79,758 | 61,864 | ||||
| Central Finance Board | 327,289 | 8,013 | 335,302 | 328,710 | |||
| Other | |||||||
| Total current assets | 352,913 | 13,995 | 79,758 | 446,666 | 405,297 | ||
| Current Liabilities | |||||||
| Creditors and Accruals (due in under 1 yr) |
15 | 245 | 85 | 329 | 409 | ||
| Net current assets (liabilities) | 352,668 | 13,911 | 79,758 | 446,337 | 404,888 | ||
| Total assets less current liabilities | |||||||
| Total assets less current liabilities | 352,668 | 13,911 | 3,079,758 | 3,446,337 | 3,404,888 | ||
| Loans and creditors due after 1year | 17 | ||||||
| Provisions for liabs. and charges | 17 | ||||||
| Net assets Funds of the Church 18 |
|||||||
| 352,668 | 13,911 | 3,079,758 | 3,446,337 | 3,404,888 | |||
| 104,385 262,193 |
|||||||
| Unrestricted funds | 104,385 | 262,193 | 366,579 | 343,021 | |||
| Restricted funds | 18 | 3,079,758 | 3,079,758 | 3,061,864 | |||
| Total Funds | 104,385 | 262,193 | 3,079,758 | 3,446,337 | 3,404,885 |
*Details - see Note 12
Page 11
The Methodist Church - Letchworth Garden City
Notes to the Accounts
1. Basis of accounting
The financial statements have been prepared in accordance with SORP(FRS102) as updated, being the current version of Accounting and Reporting by Charities: Statement of Recommended Practice.
2. Funds
The funds held constitute: General Funds held for any purpose of the Church which are Unrestricted. Restricted funds which are held for a narrower purpose including those for internal organisations. There are no Endowment funds. Details of each material fund are disclosed in note 18. Any funds may be represented by more than just cash.
3. Accounting policies
Basis
h h b d h b i f hi i l h i h h i k l These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year, on the accruals basis to show a true and fair view of the Church's financial position and activities.
Income
Income is included in the Statement of Financial Activities (SOFA) when the Church becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.
Expenditure
This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Church to pay out resources.
Grants
Grants made by the Church from its own funds are recognised in full at the time of agreement or when the Church accepts that there is a legal or operational obligation to make the payment. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.
VAT
Since the Church is not VAT registered, all input VAT is charged with the expenses to which it refers.
Tangible fixed assets for use by the Church
These are capitalised if they can be used for more than one year, and individually cost at least £1,000. The freehold property is shown at estimated market value.
Investment Properties
Investment properties - no property is currently deemed to be held as an investment for the long term purposes of the charity.
Investments
Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.
Debtors and Prepayments
Debtors include outstanding lettings invoices in August and the amount of Gift Aid accrued but not yet claimed.
Creditors
Creditors include outstanding items relating to utilities, consumables, expenses etc. in August, plus amounts due to third party charities.
Page 12
| 4. Donations and legacies Collections Gift Aid Donations Legacies Total 5. Charitable activities Fund raising Other Total 6. Other trading activities Lettings Miscellaneous Total 7. Investment income Central Finance Board Other Total 8. Other Internal Organisations Miscellaneous Total |
The Methodist Church - Letchworth Garden City |
|---|---|
| 74,340 - 74,340 74,273 13,826 13,826 13,349 - 15,662 15,662 13,657 |
|
| 88,166 15,662 103,828 101,279 |
|
| Unrestricted Restricted 2023 Total 2022 Total £ £ - - - - |
|
| - - - - |
|
| Unrestricted Restricted 2023 Total 2022 Total £ £ £ £ 36,286 36,286 32,565 - - - - - - - |
|
| 36,286 - 36,286 32,565 |
|
| Unrestricted Restricted 2023 Total 2022 Total £ £ £ £ 11,308 11,308 1,341 2,409 2,409 297 |
|
| 11,308 2,409 13,717 1,638 |
|
| Unrestricted Restricted 2023 Total 2022 Total £ £ £ £ 11,104 11,104 2,776 613 613 - - - - - - - |
|
| 11,717 - 11,717 2,776 |
Page 13
The Methodist Church - Letchworth Garden City
9. Payment to Trustees
| £ Number of trustees who were paid expenses Nature of the expenses Total amount paid £ £ Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor No expenses were paid to Trustees. Fees for examination or audit of the accounts Payments made to trustees for additional services provided to the Church by agreement with the Church Council Meeting £ Independent examiner’s or auditors' fees for reporting on the accounts |
This year Nil Nil Nil |
This year Nil Nil Nil |
Last year |
|---|---|---|---|
| Nil | |||
| Nil | |||
| Nil | |||
| Nil | Nil | ||
| Nil | Nil |
10. Fees for examination or audit of the accounts
| Staff Costs paid during the year were: Gross wages, salaries and benefits in kind Employer’s National Insurance costs Pension costs Total staff costs Average number of staff employed during the year were: £ £ £ £ 11. Paid employees (cost shown in the SoFA as part of Maintenance on Church buildings and property) |
3,895 Nil Nil 3,895 0.186 |
|
|---|---|---|
| 3,452 | ||
| Nil | ||
| Nil | ||
| 3,452 | ||
| 0.186 | 0.186 |
Note: Maintenance on Church building(s) and property includes the remuneration of a part-time cleaner who is self-employed and is not paid enough to require NI contributions or tax deductions.
Page 14
12. Tangible Fixed Assets
Cost or valuation
| Church (non investment) land and buildings £ |
Other non investment land and buildings £ |
Investment properties (land and buildings) £ |
Other fixed assets including motor vehicles £ |
Fixtures, fittings and equipment £ |
Payments on account and assets under construction £ |
Total £ |
|
|---|---|---|---|---|---|---|---|
| Balance brought forward 01/09/2020 | 3,000,000 | 3,000,000 | |||||
| Additions | - | ||||||
| Revaluations(+/-) | - | ||||||
| Disposals(-) | - | ||||||
| Transfers *(+/-) | - | ||||||
| Balance carried forward | 3,000,000 | 3,000,000 |
Accumulated depreciation
| Accumulated depreciation | |||||||
|---|---|---|---|---|---|---|---|
| Balance brought forward 01/09/2020 | |||||||
| Depreciation charge foryear(-) | |||||||
| Revaluations(+/-) | |||||||
| Disposals(-) | |||||||
| Transfers*(+/-) | |||||||
| Balance carried forward | |||||||
| Net book amount | |||||||
| Brought forward | 3,000,000 | - | - | - | - | 3,000,000 | |
| Carried forward | 3,000,000 | - | - | - | - | 3,000,000 |
- The "transfers" row is for movements between fixed asset categories.
Note : There is no depreciation provision on the church buildings as the impairment review at the end of the year judged the market value to be in accordance with the book value.
Page 15
The Methodist Church - Letchworth Garden City
13. Investments
The investments that support the various funds are held by TMCP in The Trustees' Interest Fund on which interest is credited to the accounts each month. These are regarded as medium and long term investments.
TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.
Analysis of investment movements
| This year Prev year £ £ Change in investment values |
This year Prev year £ £ Change in investment values |
This year Prev year £ £ Change in investment values |
|---|---|---|
| Value at beginning of year | 61,864 | 54,179 |
| Add:additions | 15,662 | 13,657 |
| Less:withdrawals | 6,115 | |
| Add:Interest less administration | 2,232 | 143 |
| Value at end of year | 79,758 | 61,864 |
Page 16
The Methodist Church - Letchworth Garden City
14. Analysis of current assets
| Debtors and prepayments Other debtors (Property lettings) Total debtors and prepayments Pre paid assessments Accrued income (HMRC Gift Aid accrued) |
This year £ 23,259 1,216 24,475 |
Last year £ |
|---|---|---|
| 23,259 | 7,780 | |
| 1,216 | 1,074 | |
| 24,475 | 8,854 |
17% [2021-22: 100%] by value of the debtors brought forward at the beginning of the year were recovered during the year. There have been no write-offs in the year. HMRC are the outstanding debtor, however full payment has been received in 2023-24.
Analysis of cash at bank
| Bank balances held in Co-operative Bank and HSBC Bank Bank balance held by Trustees for Methodist Church Purposes Cash held by Central Finance Board of The Methodist Church |
7,131 | 5,869 | |
|---|---|---|---|
| 79,758 | 61,864 | ||
| 335,302 | 328,710 |
15. Analysis of current liabilities and long term creditors
Trade Creditors
Other Creditors (inc. Utilities, property repairs and funds due to third parties)
Total Current Liabilities
| 329 | 409 | |
| 329 | 409 |
100% [2021-22: 100%] by value of the creditors brought forward at the beginning of the year have been paid during the year.
16. Capital commitments and contingent liabilities
At the 31st August 2023 the Church had no capital commitments.
No Contingent liabilities were identified at 31st August 2023.
Page 17
The Methodist Church - Letchworth Garden City
17. Loans and creditors due after one year
Loans
| Loans | |||||
|---|---|---|---|---|---|
| Source | Amount brought forward £ |
New borrowings £ |
Loan interest £ |
Repayable in the year £ |
Balance at year end £ |
| Nil | |||||
| Nil | |||||
| Repayment due | Totals | ||||
| Due within 12 months | |||||
| Due after more than 12 months | |||||
| Total | Nil |
Purpose of loans
None
Creditors due after one year
| Name of creditor | Amount on 31-Aug-2023 |
Amount on 31-Aug-2022 |
|---|---|---|
| Nil | ||
| Total | Nil | Nil |
Page 18
The Methodist Church - Letchworth Garden City
18. Detailed analysis of individual fund movements 2022-23
| Unrestricted Funds | ||||||
|---|---|---|---|---|---|---|
| Internal Organisations | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
| Brigades Camp Fund | 826 | 1,000 | 983 | 843 | ||
| Brigades General Fund | 468 | 5,265 | 2,865 | 2,868 | ||
| Child Sponsorship Fund | 772 | 1,367 | 1,172 | 967 | ||
| Central Flower Fund | 900 | 151 | 749 | |||
| Central Tea & Toddlers | 503 | 1,472 | 662 | 1,313 | ||
| Warm Spaces | 2,000 | 2,000 | ||||
| Sub totals | 3,469 | 11,104 | 7,833 | 6,741 | ||
| Other Funds | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
| General Fund | 82,115 | 86,577 | 64,322 | 104,370 | ||
| Norton Methodist Ch. | 8,962 | 13,459 | 6,917 | -5,000 | 10,505 | |
| Norton Comm. Centre | 5,557 | 13,537 | 18,228 | 5,000 | 5,866 | |
| Organ Fund | 20,090 | 20,090 | ||||
| Property Fund | 222,827 | 25,996 | 29,819 | 219,004 | ||
| Sub totals Total Unrestricted Funds |
339,551 | 139,569 | 119,286 | 359,835 | ||
| 343,020 | 150,673 | 127,118 | 366,576 |
| Restricted Funds | ||||||
|---|---|---|---|---|---|---|
| Fund Name | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
| TMCP - Various Bequests | 61,864 | 18,070 | 176 | 79,758 | ||
| Methodist Model Trust Property |
3,000,000 | 3,000,000 | ||||
| Total Restricted Funds | ||||||
| 3,061,864 | 18,070 | 176 | 3,079,758 |
Note: £176 expenditure represents TMCP administration charge
Endowment Funds
| Endowment Funds | ||||||
|---|---|---|---|---|---|---|
| Restricted Fund Name | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
| None | ||||||
| Totals | Nil | Nil |
Page 19
The Methodist Church - Letchworth Garden City
18. Detailed analysis of individual fund movements 2021-22
| Unrestricted Funds | ||||||
|---|---|---|---|---|---|---|
| Internal Organisations | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
| Brigades Camp Fund | 1,107 | 1,755 | 2,036 | 826 | ||
| Brigades General Fund | 1,147 | 2,050 | 2,729 | 468 | ||
| Child Sponsorship Fund | 790 | 1,210 | 1,228 | 772 | ||
| Central Flower Fund | 968 | 0 | 68 | 900 | ||
| Central Tea & Toddlers | 341 | 760 | 598 | 503 | ||
| Sub totals | 4,353 | 5,775 | 6,659 | 0 | 0 | 3,469 |
| Other Funds | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
| General Fund | 86,785 | 68,564 | 73,234 | 82,115 | ||
| Norton Methodist Ch. | 9,911 | 11,014 | 11,962 | 8,963 | ||
| Norton Comm. Centre | 5,965 | 18,377 | 18,785 | 5,557 | ||
| Organ Fund | 20,090 | 0 | 20,090 | |||
| Property Fund | 217,942 | 29,440 | 30,670 | 6,115 | 222,827 | |
| Sub totals Total Unrestricted Funds |
340,693 | 127,395 | 134,651 | 6,115 | 0 | 339,552 |
| 345,046 | 133,170 | 141,310 | 6,115 | 0 | 343,021 |
| Restricted Funds | ||||||
|---|---|---|---|---|---|---|
| Fund Name | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
| TMCP - Various Bequests | 54,179 | 13,954 | 154 | -6,115 | 61,864 | |
| Methodist Model Trust Property |
3,000,000 | 0 | 0 | 0 | 3,000,000 | |
| Total Restricted Funds | ||||||
| 3,054,179 | 13,954 | 154 | -6,115 | 0 | 3,061,864 |
Note: £4,492 was transferred from Bequests held by TMCP to fund lighting upgrade and contribution
towards Lay Workers salary
£35 expenditure represents TMCP administration charge
Endowment Funds
| Restricted Fund Name | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Closing Balance |
|---|---|---|---|---|---|---|
| None | ||||||
| Totals | Nil | 0 | 0 | 0 | 0 | Nil |
Page 20
The Methodist Church - Letchworth Garden City
19. Related party transactions
This year
| This year | ||||||
|---|---|---|---|---|---|---|
| Name of related party |
**Relationship ** | Description of transaction |
Income from related party during the year |
Payments to related party during the year |
Loans to / (from) related party during the year |
Amounts owed by / (to) related party as on 31-Aug- 2023 |
| £ | £ | £ | £ | |||
| Methodist Church Fund |
Connexional | Donation | Nil | 410 | Nil | Nil |
| Mission in Britain Fund |
Connexional | Donation | Nil | 410 | Nil | Nil |
| Fund for Support of Presbyters & Deacons |
Connexional | Donation | Nil | 550 | Nil | Nil |
| Fund for Property | Connexional | Donation | Nil | 410 | Nil | Nil |
| World Mission Fund | Connexional | Donation | Nil | 500 | Nil | Nil |
| All We Can | Connexional | Donation | Nil | 721 | Nil | Nil |
| Methodist Homes | Connexional | Donation | Nil | 250 | Nil | Nil |
| Total | 0 | 3,251 | 0 | Nil | ||
| Donations to unrelated parties: Total grants and donations: |
4,951 8,202 |
Donations to unrelated parties: Total grants and donations:
Last year
| Last year | ||||||
|---|---|---|---|---|---|---|
| Name of related party |
**Relationship ** | Description of transaction |
Income from related party during the year |
Payments to related party during the year |
Loans to / (from) related party during the year |
Amounts owed by / (to) related party as on 31-Aug- 2022 |
| £ | £ | £ | £ | |||
| JMA | Connexional | Donation | Nil | Nil | Nil | Nil |
| Methodist Church Fund |
Connexional | Donation | Nil | 410 | Nil | Nil |
| Mission in Britain Fund |
Connexional | Donation | Nil | 410 | Nil | Nil |
| Fund for Support of Presbyters & Deacons |
Connexional | Donation | Nil | 550 | Nil | Nil |
| Fund for Property | Connexional | Donation | Nil | 410 | Nil | Nil |
| World Mission Fund | Connexional | Donation | Nil | 500 | Nil | 7 |
| All We Can | Connexional | Donation | Nil | 500 | Nil | Nil |
| Methodist Homes | Connexional | Donation | Nil | 250 | Nil | Nil |
| Total | 0 | 3,030 | 0 | 7 | ||
| Donations to unrelated parties: Total grants and donations: |
2,520 5,550 |
Page 21
The Methodist Church - Letchworth Garden City
DECLARATIONS
Treasurer
I confirm that I have prepared the accounts from the records of the Church and that they include all funds under the control of the Church Council.
Signature of Treasurer Original signed by J Battarbee Date 25-Nov-23 Name Jonathan L Battarbee Address Letchworth Garden City Hertfordshire Presentation to the Church Council Meeting for approval. I confirm that the Accounts were presented to the Church Council Meeting on 02-Nov-23 and were approved. Signature of the Chair of the Original signed by J Sharman meeting Name of the Chair of the meeting John W Sharman Date: 2nd November 2023
Page 22
Independent Examiner's Report
Report to the Trustees of The Methodist Church - Letchworth Garden City On accounts for the year 31 August 2023 Charity No. 1127225 ended Set out on pages 10 - 21 inclusive I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 31st August 2021 Responsibilities and basis As the charity's trustees, you are responsible for the preparation of the of report 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 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's I am qualified to undertake the examination by being a qualified member Statement of The Institute of Chartered Accountants in England and Wales I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: ► the accounting records were not kept in accordance with section 130 of the Charities Act; or ► the accounts did not accord with the accounting records; or ► the accounts did 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.
| Signed: Relevent professional qualification(s) or body Name: |
Original signed by C Maylin | 27-Jan-24 |
|---|---|---|
| Christopher Maylin | ||
| Fellow of the Institute of Chartered Accountants in England and Wales |
Page 23