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2024-08-31-accounts

Church Accruals Accounts 2023-2024

THE METHODIST CHURCH REPORT AND ACCOUNTS

(ACCRUALS BASIS)

for the year ended 31 August 2024

The Methodist Church - Letchworth Garden City

(incorporating Central and Norton Methodist Churches)

Registered Charity - Registration number
1127225
Circuit No:
34/15
North Hertfordshire Circuit
~~OT~~
~~ee~~		 Registered Charity - Registration number
1127225
Circuit No:
34/15
North Hertfordshire Circuit
~~OT~~
~~ee~~		 Registered Charity - Registration number
1127225
Circuit No:
34/15
North Hertfordshire Circuit
~~OT~~
~~ee~~		 Registered Charity - Registration number
1127225
Circuit No:
34/15
North Hertfordshire Circuit
~~OT~~
~~ee~~		 Registered Charity - Registration number
1127225
Circuit No:
34/15
North Hertfordshire Circuit
~~OT~~
~~ee~~
Minister: Reverend Emmanuel Onabanjo
Church Stewards: Roger Harrison
Richard Allen
Caroline Howard
Gill Knowles
George Mather
Church Treasurer: Jonathan Battarbee

Page 1

The Methodist Church - Letchworth Garden City TRUSTEES' ANNUAL REPORT for the year ended 31 August 2024

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:

At the start of the Methodist year in September 2023 we were thankful and relieved to welcome our new minister, Rev Emmanuel Onanbanjo newly arrived from Lagos, Nigeria. This followed a year when the Letchworth Churches were without a regular minister. Rev Onabanjo and his young family were welcomed into a refurbished manse and taken into homes of members for Sunday lunches, while he himself has made an immediate impact with a new preaching style and conscientious pastoral care.

Emmanuel has introduced us and the wider Methodist circuit to Nigeria with an illustrated talk on life in Nigeria, so widening our perspective on a country of which some of us know relatively little. For his part, Emmanuel has had to get used to such British customs as harvest festival, Remembrance Sunday, candlelight carols and our outdoor service at sunrise on Easter Sunday. Then in September, Emmanuel led a Battle of Britain Commemoration service for the Royal Air Force Association at Central.

A key event during this year has been the redesign of our website and this is already making a difference to our outreach as is evidenced by the growing number of enquiries for room hire both at Central and Norton. We will now continue to seek ways to widen its effectiveness as an aide to mission.

We remain grateful to our hard working pastoral secretary and her team of visitors who kept in touch with our more vulnerable members, and also 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.

Our buildings remain well used, with our own toddler groups at both sites and our brigades each week, and a wide range of users from within the town – slimmers, amateur dramatics, yoga, table tennis, gardeners and choirs, to name a few.

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.

Page 3

Plans for 2024-25

Our Minister will be working with a small team to produce a strategy for the next five years to determine our mission objectives.

Financial Review:

Total income £165.6k (2022-23 £165.5k) reflected both a business as usual year for lettings and internal organisations' activities (combined £44.6k vs £47.4k 2022-23), and increased benefit from high interest rates generating additional investment income (£22.2k vs £13.7k 2022-23). No legacies were received in year (2022-23 £15.7k), however the Church's contribution to the Methodist Pension Reserve Fund (MPRF) of £13.0k in 2021-22 was returned with interest following the stabilisation of the MPRF's financial position. This was an unplanned benefit of £14.1k. Expenditure, at £146.3k, was £22.2k higher than the prior year (2022-23 £124.1k). This movement was mainly due to an £8.5k increase in Circuit assessment (£74.4k vs £65.9k 2022-23); a £3.7k increase in utility costs (£22.1k vs £18.4k in 2022-23); and a £10.9k change in maintenance costs (£32.0k vs £21.1k in 2022-23) following extensive repair work to the Central car park. The surplus for the year was therefore £19.4k (£22.0k lower than 2022-23's £41.4k). The readily available reserves carried forward amount to £465.7k (2022-23 £446.3k). 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 2024 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 (CPFA)

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:

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 Reverend Emmanuel Onabanjo Chair (ex officio)
LAY WORKERS Hazel Beadle
Appointed Appointed
CHURCH STEWARDS Richard Allen 22/05/2022 Gill Knowles 22/05/2022
Roger Harrison 12/03/2011 George Mather 12/03/2011
Caroline Howard 21/05/2023
CHURCH SAFEGUARDING CO-ORDINATOR Ruth Lowe
OTHER MEMBERS OF THE CHURCH COUNCIL
Appointed Appointed
1. Graham Albone 05/11/2018 12. Anita Latter 12/03/2011
2. Gail Aldridge 05/11/2018 13. David Latter 07/07/2019
3. Katie Allwright 15/05/2016 14. John McKean 12/03/2011
4. Jonathan Battarbee 12/03/2011 15. Christopher Parker 12/03/2011
5. Cheryl Bidnell 12/03/2011 16. Jennifer Rogers 15/05/2012
6. Stephen Brown 12/03/2011 17.Peter Rogers 21/05/2023
7. Christine Druce 12/03/2011 18. John Sharman 12/03/2011
8. Neil Gibbens 17/01/2018 19.Paul Sharman 12/03/2011
9. Kenneth Gibbs 12/03/2011 20.David Smith 21/05/2023
10. Malcolm Knowles 05/11/2018 21.Sally Woodhouse 12/03/2011
11. Patricia Lander 12/03/2011 22.Susan Woodhouse 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 quarterly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.

Safeguarding

Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

Methodist Connexional practice outlines commitment to the following principles:

The Methodist Church Letchworth Garden City commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches.

The Methodist Church Letchworth Garden City commits itself to the provision of support, advice and training for lay and ordained persons that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.

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 and 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 2024

Notes to the
accounts		 Unrestricted
funds		 Restricted
Funds		 Total
2023-24		 Total
2022-23
£ £ £ £
Income and Endowments from:
Donations and legacies 4 84,675 103,829
- Collections and Gift Aid 75,552 75,552 74,340
- Donations 9,123 9,123 13,826
- Legacies - - 15,662
Charitable activities 5 - -
- Fund raising - -
- Other - -
Other trading activities 6 38,342 36,286
- Lettings 38,342 38,342 36,286
- Miscellaneous - -
Investments 7, 13 18,191 4,033 22,224 13,717
Other 8 20,388 11,717
- Internal organisations 18 6,275 6,275 11,104
- Miscellaneous 14,113 14,113 613
Total 161,596 4,033 165,629 165,549
Expenditure on:
Salaries, NIC & Pension costs - -
Circuit Assessment 74,352 74,352 65,850
Maintenance on Church building(s) and property 11 32,048 32,048 21,134
Telephone and Travel - -
Utilities (insurance, heat and light, water, etc) 22,112 22,112 18,442
Expenditure on other property - -
Depreciation 12 - -
Provisions - Pension Reserve Fund - - -
Internal organisations 18 6,114 6,114 7,832
Grants and Donations 19 8,562 8,562 8,179
Other expenditure 2,859 227 3,086 2,663
Total 146,048 227 146,275 124,100
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) 15,548 3,806 19,354 41,449
Transfers between funds 18 9,908 9,908
-		 - -
Net movement in funds 25,456 6,102
-		 19,354 41,449
Reconciliation of funds:
Total funds brought forward 366,579 3,079,758 3,446,337 3,404,888
Total funds carried forward 392,035 3,073,656 3,465,691 3,446,337

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

23 -
3,421 3,194
1,762 3,171
1,682 23

Balance carried forward

Page 10

The Methodist Church - Letchworth Garden City

Registered Charity No. 1127225

Balance Sheet as at 31 August 2024

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 7,835 750 8,585 24,475
Cash at Bank and in hand 14 12,483 3,592 16,075 7,131
Trustees for Methodist Church
Purposes		 73,656 73,656 79,758
Central Finance Board 372,724 2,023 374,747 335,302
Other
Total current assets 393,042 6,365 73,656 473,063 446,666
Current Liabilities
Creditors and Accruals (due in
under 1 yr)		 15 7,373 7,373 329
Net current assets (liabilities) 385,669 6,365 73,656 465,691 446,337
Total assets less current liabilities
Total assets less current liabilities 385,669 6,365 3,073,656 3,465,691 3,446,337
Loans and creditors due after 1year 17
Provisions for liabs. and charges 17
Net assets
Funds of the Church
18
385,669 6,365 3,073,656 3,465,691 3,446,337
135,657
256,377
Unrestricted funds 135,657 256,377 392,034 366,579
Restricted funds 18 3,073,656 3,073,656 3,079,758
Total Funds 135,657 256,377 3,073,656 3,465,691 3,446,337

*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
75,552
-
75,552
74,340
9,123
9,123
13,826
-
-
-
15,662
84,675
-
84,675
103,828
Unrestricted
Restricted
2024
Total
2023
Total
£
£
-
-
-
-
-
-
-
-
Unrestricted
Restricted
2024
Total
2023
Total
£
£
£
£
38,342
38,342
36,286
-
-
-
-
-
-
-
38,342
-
38,342
36,286
Unrestricted
Restricted
2024
Total
2023
Total
£
£
£
£
18,191
18,191
11,308
4,033
4,033
2,409
18,191
4,033
22,224
13,717
Unrestricted
Restricted
2024
Total
2023
Total
£
£
£
£
6,275
6,275
11,104
14,113
14,113
613
-
-
-
-
-
-
20,388
-
20,388
11,717

*Refund from the Methodist Church Pension Reserve Fund in 2023-24

Page 13

9. Payment to Trustees

£
Number of trustees who were paid expenses
Nature of the expenses
Total amount paid
£
£
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:
£
.
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
Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor
No expenses were paid to Trustees.
£
£
£
11. Paid employees (cost shown in the SoFA as part of Maintenance on Church buildings and property)
10. Fees for examination or audit of the accounts		 This year This year Last year
Nil Nil
Nil
Nil
Nil
Nil
4,417
Nil
Nil
4,417
0.186
Nil
Nil
Nil
Nil
3,895
Nil
Nil
3,895
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 01/09/2023 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 01/09/2023
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

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 79,758 61,864
Add:additions 15,662
Less:withdrawals 9,908
Add:Interest less administration 3,806 2,232
Value at end of year 73,656 79,758

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
£
7,560
1,025
8,585		 Last year
£
7,560 23,259
1,025 1,216
8,585 24,475

100% [2022-23: 17%] 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.

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

16,075 7,131
73,656 79,758
374,747 335,302

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
7,373 329
7,373 329

94% [2022-23: 100%] by value of the creditors brought forward at the beginning of the year have been paid during the year. A small balance remains to be paid over to a third party as a result of a Special Collection in 2022-23.

16. Capital commitments and contingent liabilities

At the 31st August 2024 the Church had no capital commitments.

No Contingent liabilities were identified at 31st August 2024.

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 2023-24

Unrestricted Funds
Internal Organisations Opening
Balance		 Income Expenditure Transfers Revaluation
gains/losses		 Closing Balance
Brigades Camp Fund 843 2,055 2,228 670
Brigades General Fund 2,869 2,489 1,893 3,464
Child Sponsorship Fund 967 940 1,172 736
Central Flower Fund 749 168 582
Central Tea & Toddlers 1,314 792 654 1,452
Warm Spaces
Sub totals 6,742 6,275 6,114 6,903
Other Funds Opening
Balance		 Income Expenditure Transfers Revaluation
gains/losses		 Closing Balance
General Fund 104,370 93,069 71,705 9,908 135,642
Norton Methodist Ch. 10,504 11,052 7,683 -5,000 8,873
Norton Comm. Centre 5,867 13,173 20,104 5,000 3,935
Organ Fund 20,091 20,091
Property Fund 219,005 41,448 43,863 216,590
Sub totals
Total Unrestricted Funds		 359,836 158,741 143,355 9,908 385,131
366,579 165,017 149,469 9,908 392,034
Restricted Funds
Fund Name Opening
Balance		 Income Expenditure Transfers Revaluation
gains/losses		 Closing Balance
TMCP - Various Bequests 79,758 4,033 227 -9,908 73,656
Methodist Model Trust
Property		 3,000,000 3,000,000
Total Restricted Funds
3,079,758 4,033 227 -9,908 3,073,656

Note: £227 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 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 222,830 25,996 29,819 219,007
Sub totals
Total Unrestricted Funds		 339,554 139,569 119,286 359,838
343,023 150,673 127,118 366,579
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 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-
2024
£ £ £ £
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 744 Nil Nil
Methodist Homes Connexional Donation Nil 250 Nil Nil
Total 0 3,274 0 Nil
Donations to unrelated parties:
Total grants and donations:		 5,288
8,562

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-
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 0
Donations to unrelated parties:
Total grants and donations:		 4,951
8,202

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.

control of the Church Council. control of the Church Council.
Address
Name
Signature of Treasurer		 Original signed by
Jonathan L Battarbee		 17th October 2024

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 17th October 2024 and were approved.

Signature of the Chair of the Original signed by meeting Reverend Emmanuel Onabanjo Name of the Chair of the meeting Reverend Emmanuel Onabanjo Date: 17th October 2024

Page 22

Independent Examiner's Report

Report to the Trustees of
On accounts for the year
ended
Set out on pages		 The Methodist Church - Letchworth Garden City The Methodist Church - Letchworth Garden City The Methodist Church - Letchworth Garden City
31 August 2024 Charity No. 1127225
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 2024

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.

Name:
Signed:
Relevent professional
qualification(s) or body		 Original signed by Christopher Maylin 20th January 2025
Christopher Maylin
Fellow of the Institute of Chartered Accountants in England and Wales

Page 23