, ## FLEET METHODIST CHURCH ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ## CHARITY COMMISSION NUNIBER 1127326 Jacob Cavenagh & Skeet Chartered Accountants 5 Robin Hood Lane Sutton Surrey SM1 2SW ## FLEET METHODIST CHURCH ## FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 : ## Contents ## Page |Reference and Administrative Details|4| |---|---| |Trustees’ Annual Report|2-5| |Independent Examiner’s Report|6| |Statement of Financial Activities|7| |Balance Sheet|8| |NotestotheFinancialStatements|9-20| FLEET METHODIST CHURCH ## REFERENCE AND ADMINISTRATIVE DETAILS pe ## pea Gece Charity Number 1127326 Start of Financial Year 1st September 2020 End of Financial Year 31st August 2021 ## Trustees Rev. Nick Oborski (from 01/09/2020) Jayne Moore David Ward Alan Goldring lanna Goldring Dilanee Bunter Brian Sexton Tim Bailey Colin Johnston Gill Bunch Catherine Reeves lan Moore Alison Cross Sheila Flack David Burrell Christopher Fry Rachel Burrell Nina Curley John Wilmott Maurice Raggett Brenda Parker Pat Shepherd David Moll Ann Adams Pippa Gibbons (from 26/01/2021) Thomas Oborski (from 26/01/2021) ## Legal Status Unincorporated Charity ## Governing Instrument Deed of Union (1932) and Methodist Church Act (1976) ## Objects 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 the 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. ## Registered Address 34 Leawood Road Fleet Hants GU51 5AN Primary Bankers Lloyds Bank Pic. 25 Gresham Street London EC2V 7HN Independent Examiners Paul Newton, Jacob Cavenagh & Skeet 5 Robin Hood Lane, Sutton, Surrey, SM1 2SW Page 1 ## FLEET METHODIST CHURCH TRUSTEES’ ANNUAL REPORT PAeeinte inch Structure, governance, and management ## Trustee Selection Methods Trustees are appointed by the General Church Meeting of members of Fleet Methodist Church, the HantsSurrey Border Circuit of the Methodist Church and the existing Trustees following the provisions of the governing instruments of the Methodist Church. ## Trustee Induction/Training Trustees have been reminded of their responsibilities through circulation of material provided by the Methodist Church and the Charity Commission. New trustees are advised of responsibilities on appointment. ## Structure . The Charity is part of Hants-Surrey Borders Methodist Circuit, in the Methodist South East District: - e Accountable to the Methodist Conference. - e Co-ordination and co-operation with Christians Together in Fleet and Church Crookham. 2 Within the Church, two Action Teams and Property and Finance Committees report to the Church Council three times a year. - e Aseparate Pre-School management committee reports to Church Council. ## Related Parties None of the Trustees is employed by Fleet Methodist Church or has a commercial interest in its charitable Operations. Risk management Proposed actions are discussed in advance by Church Council and delegated committees, and only implemented with their agreement. Professional advice is sought as required. Processes and procedures are regularly reviewed and updated by Church Council Safeguarding policies are implemented by the Church and Circuit Safeguarding Officers, as prescribed by the Methodist Conference. ## Objectives and activities As set out in the Methodist Church Act 1976 (clause 4): Advancement of Religion and any charitable purpose of the Methodist Church or church organisation. ## Summary of the Main Activities - e The provision of regular public acts of worship open to church members and non-members alike. e The teaching of Christianity through sermons, courses and small groups. e Pastoral work, including visiting those experiencing health, relationship and bereavement issues. e The provision of clubs and activities with a Christian ethos, for all ages. - e Supporting other charities and Christian organisations in the UK and overseas, financially and with prayer. In arranging these activities, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit. Local Methodist Churches, Circuits and Districts are not constituted as external grant making bodies. However, grants and donations are made to support initiatives of the local Christians Together organisation, other Christian charities and in response to national and international emergency appeals. Bequest funds are invested with the Trustees for Methodist Church Purposes, as required by Standing Orders. Other reserves are deposited with the Central Finance Board of the Methodist Church. Page 2 FLEET METHODIST CHURCH ## TRUSTEES’ ANNUAL REPORT (continued) Most church activity is undertaken by lay volunteers. However, an Administrator is employed by the Church, and a Supervisor and professional staff are employed to operate Pre-School (in accordance with Ofsted requirements). The Children and Families Worker who serves church and community is paid staff of HantsSurrey Border Circuit of the Methodist Church which is partly funded by contributions from this church. The Presbyter (Minister) is paid staff of Hants-Surrey Border Circuit of the Methodist Church which is partly funded by contributions from this church. ## Summary of the Main Achievements - e During the pandemic, a single service at 10:30 was provided when allowed under government covid regulations. In addition we ran a series of Christingle services allowing a safe interaction with families during the Advent period. Weekly on-line services were also provided by the church primarily aimed at those who could not attend due to covid and health restrictions. This service has been well-received with significant numbers of people taking advantage of this provision including many who live across the UK and some overseas. - e We ran two on-line Zoom courses the first for Advent and the second following the journey from Easter to Pentecost. Both courses were valued by those who participated. - e We continued to offer regular ‘encounter’ groups, aimed at providing a non-threatening way for newcomers to integrate into church activities and these have met via zoom and face to face when possible. - ° The usual presentations to local schools on the Christian significance of Christmas and Easter, carried out in conjunction with a local charity (Faccts), could not take place this year due to the pandemic. - e We provided pastoral help and support to housebound church members, bereaved families and those experiencing other difficulties. In particular we formed a wellbeing group to consider needs of those isolated due to covid and this allowed us to provide help and support that was relevant in the context during the period April to August. - e We continued to operate a successful Pre-School, which provides great opportunities for outreach and support a significant number of young families in the surrounding community. - e Junior Church activities for children and young people of all ages were run in parallel with Sunday morning services where possible, then separately via Zoom during lockdowns. We were able to deliver new face to face events for our children and young people from Easter onwards and these new style groups have helped us to understand what our young people have needed as covid restrictions diminished. - e We continued the operation of Boys’ Brigade and Girls’ Brigade companies as far as we could within pandemic regulations and guidance for safe operation. - e Through the FMC Mission initiative, provided opportunities for church members, and others, to support mission projects, with the objective of increasing awareness and providing a coordinated financial response. The FMC Mission beneficiary for the year was a local charity ‘Parity for the Disabled’. ## Financial review Statement of the Charity's Policy on Reserves - e Maintain General Fund reserves equal to6 months normal expenditure. e As far as possible, ensure that property costs (maintenance rather than improvement) are covered by income from lettings (this includes contribution from Pre-School). - © Promote an Annual Gift Day for specific initiatives of the church e Ensure that, as far as possible, special projects (Pre-School, Boys’ Brigade, Girls’ Brigade) are selffinancing; provide support where necessary. - e Ensure that Pre-School reserves are sufficient to cover planned or unexpected closure (including redundancy payments to staff). - ° Set budgets for other church activities/groups, through the allocation of designated reserve funds. ° Finance Committee meets at least three times a year to review the status of reserves and recommend remedial actions and adjustments to Church Council, as necessary. Page 3 ## FLEET METHODIST CHURCH ## TRUSTEES' ANNUAL REPORT (continued) nn nee - Sources of Funds - e Weekly offerings and donations from members and those attending worship and other church activities. - © A Gift Day (held in 2020/21 after missing 2019/20) e Tax recovery (Gift Aid) e Bequesis e Interest from bank deposits. e Lettings of church premises to external organisations. e Local authority grants and fees paid by parents to cover the cost of operating the Pre-School. ## Expenditure on Objectives - During the year, , e¢ £81,863 was paid to the Methodist Circuit to cover the cost of ministry. e Financial donations amounting to a little over £8,000 were made to local Churches Together initiatives and various local, national and international charities. - e Church Council allocated a net amount of a little under £350 from its General Fund to support Outreach activities. - e Property maintenance costs totalled a little under £25,000. e Administration costs totalled around £6,600. ## Contingency Plans No further building upgrade works were undertaken during this financial year. And no significant items of expenditure other than normal day to day costs were incurred. Stricter control on maintenance costs have been maintained. ## Trustees’ responsibilities The trustees are responsible for preparing the Trustees’ Annual 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 and 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 during that period. In preparing these financial statements, the trustees are required to: e select suitable accounting policies and then apply them consistently; e observe the methods and principles in the Charities SORP; e make judgments and estimates that are reasonable and prudent; ° state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements: and - © prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps to prevent and detect fraud and other irregularities. - Approved by the trustees on 30" May 2022 and signed on their behalf by: , Minister & Trustee ## eee Page 4 INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF ## FLEET METHODIST CHURCH ## eee | report to the charity trustees on my examination of the accounts of Fleet Methodist Church (the charity) for the year ended 31 August 2021 set out on pages 6 to 15. ## Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). | report in respect of my examination of the Trust’s accounts as carried out under section 145 of the Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ' ## Independent examiner’s statement - | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the 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 Report) 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. | 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. aul Newton FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW Date: 6/6 [2022 — Page 5 3 S 2 |||VO tO CO]
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E|||| FLEET METHODIST CHURCH BALANCE SHEET AS AT 31 AUGUST 2021 ae a ee **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |ae|a|ee|ee| |2021|2020| |Note|£|£|£|£| |Fixed|assets| |Tangible|fixed|assets|6|349|398|361,415| |Fixed|asset|investments|7|731|730| |350,129|362,145| |Current|assets| |Debtors|8|9,464|-| |Cash|at|bank and|in|hand|17,329|70,168| |Creditors:|Amounts|falling|due|within|86,793|70,168| |one|year|9|(4,972)|(_8,400)| |Net current assets|81,821|61,768| |Net assets|12|431,950|423.913| |Funds| |Designated|10|385,239|366,797| |Restricted|11|10,122|38,937| |General|(unrestricted|&|undesignated)|36,589|18,179| |Total funds|431,950|423,913| **----- End of picture text -----**
Approved by the trustees on 30" May 2022 and signed on their behalf by: Rev. Nick Oborski Minister & Trustee eee Page 7 FLEET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 ee 1 ACCOUNTING POLICIES 1.1 Basis of Preparation The financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland’, “Accounting and Reporting by Charities”: Statement of Recommended Practice applicable for charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared under the historical cost convention. The financial statements are presented in sterling, rounded to the nearest pound. ## 1.2 Constitution The church is an unincorporated trust, with a registered address of 34 Leawood Road, Fleet, Hants GU51 SAN and is a Public Benefit Entity as defined by FRS 102. - 1.3 Assessment of Going Concern - Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. ## 1.4 Income ## Recognition of Income This is included in the Statement of Financial Activities (SOFA) when: - e the charity becomes entitled to the resources; e the trustees are virtually certain they will receive the resources; and e the monetary value can be measured with sufficient reliability ## Income with Related Expenditure Where income has related expenditure (as with fundraising or contract income) the income and related expenditure are reported gross in the SOFA. ## Grants and Donations Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Tax Reclaims on Donations and Gifts ’ Income from tax reclaims is included in the SOFA at the same time as the gift to which they relate. ## Contractual Income and Performance Related Grants This is only included in the SOFA once the related goods or services has been delivered. ## Gifts in Kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as income when receivable. ## eee Page 8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued) ## FLEET METHODIST CHURCH - 1 ACCOUNTING POLICIES (continued) ## Donated Services and Facilities These are only included in income (with an equivalent amount in expenditure) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on this income is the estimated value to the charity of the service or facility received. ## Volunteer Help The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report. ## Investment Income This is included in the accounts when receivable. ## Investment Gains and Losses This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. ## 1.5 Expenditure and Liabilities ## Liability Recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. ## Governance Costs Include costs of the preparation and examination of statutory accounts, the costs of the trustees’ meetings and cost of any legal advice to trustees on governance or constitutional matters. ## 1.6 Fixed Assets Tangible fixed assets for use by the charity, these are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt. Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum are as follows: General Equipment 33% Fixtures &. Fittings 33% No depreciation is charged to freehold Land & Building as the Land & Buildings are maintained to such a standard that the estimated residual value is not less than cost. - 1.7. Investments Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value. 1.8 Funds Unrestricted funds are available for use at the discretion ofthe trustees in furtheranceoftheir charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. ## Bagge9 FLEET METHODIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued) - 1 ACCOUNTING POLICIES (continued) - 1.9 Cash and cash equivalents Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of the opening of the deposit. ## 1.10 Creditors and provisions - Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount. - 1.11 Financial instruments - The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. - 1.12 Pension Schemes The cost of providing pension benefits under money purchase schemes is charged to the Statement of Financial Activities as contributions are made. - 2 INCOME ## a) Donations and Legacies ||General|Designated|Restricted|Total|Total| |---|---|---|---|---|---| ||Funds|Funds|Funds|2021|2020| ||£|£|E|£|£| |Gifts and Donations|90,383|-|-|90,383|80,664| |Gift Days|16,317|-|-|16,317|1,223| |GiftAid Tax Recovered|25,432|-|-|15,432|23,165| |Mission Projects|-|249|-|249|-| ||132,132|249|-|132,381|105,652| |b)
Charitable Activities|||||| ||General|Designated|Restricted|Total|Total| ||Funds|Funds|Funds|2021|2020| ||£|£|£|£|£| |Activities & Events|-|-|-|-|3,498| |Pre-School Income|-|89,520|-|89,520|100,540| |Boys’ Brigade|-|15|-|15|3,434| |Girls’ Brigade|-|289|~|289|1,024| ||an:|89.824|—|89,824|108,496| |c) Other trading activities|||||| ||General|Designated|Restricted|Total|Total| ||Funds|Funds|Funds|2021|2020| ||£|£|£|£|£| |Rental Income|-|9,580|-|9,580|13,151| |Fundraising Income|-|2,287|-|2,287|5,243| ||a.|11,867|we|11,867|18,394| ## c) Other trading activities Page 10 FLEET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continu **e** d) eOe ## 2 INCOME (continued) ||d) Investment Income|||||| |---|---|---|---|---|---|---| |||General
Funds|Designated
Funds|Restricted
Funds|Total
2021|Total
2020| |||£|£|£|£|£| |3|Interest Received
EXPENDITURE|_ 25
29|_
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a|___25
——25|_ 216
—216| ||Charitable Activities|||:||| |||General
Funds|Designated
Funds|Restricted
Funds|Total
2021|Total
2020| |||£|£|£|£|£| ||Activities & Events
Administrative Expenses
Boys' Brigade
CircuitAssessment
Depreciation Expenses
Girls' Brigade
Governance costs (see below)
Grants & Donations
insurance
Pre-School Costs
Repairs & Maintenance
Sundry Expenses
Utility Costs
Governance Costs|-
1,694
-
81,863
-
-
2,130
8,000
-
-
-
997
=
94.684|-
180
1,294
-
12,017
700
-
2,174
2,559
89,765
7,919
1,637
13,943
132,188|-
-
-
-
-
-
-
-
-
-
-
-
-
-|-
1,874
1,294
81,863
12,017
700
2,130
10,174
2,559
89,765
7,919
2,634
13,943
226,872|3,222
3,540
2,700
86,850
17,936
1,169
1,464
7,590
2,261
96,881
15,106
1,386
14.652
294.777| |||General|Designated|Restricted|Total|Total| |||Funds|Funds|Funds|2021|2020| ||Independent
examination
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Legal and professional fees|£
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1,080
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1,080
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2.130|£
1,380
-
84
1.464| |4|STAFF COSTSAND NUMBERS|||||| ||||||2021|2020| ||GrossWages and Salaries
Employer's National Insurance Costs
Pension Contributions||||£
76,625
-
4,749|£
74,194
3,347
3,741| ||||||81,374|81,282| The average number of employees during the year was 6 (2020:6). No employees received emoluments in excess of £60,000. (2020: £nil). A pension scheme is offered to eligible employees and employer contributions were paid during this financial year on behalf of 5 employees. Grants for the HMRC Job Retention Scheme were received totalling Eni! (2020: £1,687). ## ee Page 11 FLEET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued) a |6
TANGIBLE FIXED ASSETS|6
TANGIBLE FIXED ASSETS|6
TANGIBLE FIXED ASSETS|6
TANGIBLE FIXED ASSETS|6
TANGIBLE FIXED ASSETS|| |---|---|---|---|---|---| |||Land and
Buildings|Fixtures
& Fittings|General
Equipment|Total| |||£|£|£|£| ||Cost or valuation||||| ||At 1 September2020
Additions foryear|325,000
-|1,270
-|269,080
-|595,350
-| ||Disposals|-|-|-|-| ||At 31 August2021|325,000|1,270|269,080|595,350| ||Accumulated depreciation|||,|| ||At 1 September 2020
Charge foryear
At 31 August 2021|-
-
-|1,013
85
1,098|232,922
11,932
244.854|233,935
12,017
245,952| ||Net bookvalue||||| ||At 31 August2021|325,000|172|24,226|349,398| ||At31 August2020|325,000|251|36,158|361,415| |7|INVESTMENTS||||| |||||2021|2020| |||||£|£| ||TMCP BequestsAccount|||£31|730| |8|DEBTORS||||| |||||2021|2020| |||||&|z| ||Incometax recoverable|||9,464|=| |9|CREDITORS||||| |||||2021|2020| |||||£|£| ||Independentexaminersfee
PAYE & NI
Pension Contributions due|||2,400
1,621
951|1,380
6,114
906| |||||4.972|8,400| eee Page 12 FLEET METHODIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 DahodBE a a 10 DESIGNATED FUNDS ||Balance|at||||Balance at| |---|---|---|---|---|---|---| ||1 September
2020||Income|Expenditure|Transfers|August
2021| ||£||£|£|£|£| |Outreach Fund|-||-|358|358|-| |Service & Caring—Main Fund|367||-|-|-|367| |Service & Caring—WAF|57||-|-|-|57| |Worship & Prayer—Main
Youth and Children|-
-||-
-|1,186
93,|1,186
93|-
-| |Property Management
Projects— Boys’ Brigade
Projects— Girls’ Brigades
Projects—Pre-School
AVReplacement Fund
Bequests Fund|-
-
-
-
2,807
725||11,867
15
289
89,520
-
-|24,601
1,294
700
89,765
-
-|12,734
2,143
1,974
29,169
-
-|-
864
1,563
28,924
2,807
725| |Building
& Equipment Fund
FMC Mission|361,415
892||-
249|12,017
2,174|-
1,033|349,398
-| |EmergencyAppeals Fund|534||-|-|-|534| ||366,797||101,940|132,188|48,690|385,239| ||Balance at|||||Balance at| ||1 September||Income|Expenditure|Transfers|August| ||2019|||||2020| ||£||£|£|E|£| |Learning & Growing Fund
Outreach Fund|-
-||262
94|118
463|(144)
369|-
-| |Service & Caring—Main Fund|409||1,570|1,612|-|367| |Service & Caring — Ladies Night|28||457|485|-|-| |Service & Caring—WAF
Worship& Prayer—Main
Worship & Prayer— Choir|194
263
-||1,114
-
-|851
343
-|(400)
80
-|57
-
-| |Youth and Children|-||-|100|100|-| |Property Management
Property Development|-
-||14,898
-|29,704
-|14,806
-|-
-| |AVReplacement Fund
BequestsFund|2,807
725||-
-|-
-|-
-|2,807
725| |Building & Equipment Fund
FMC Mission|367,802
2,007||-
1,675|17,936
3,140|11,549
-|361,415
892| |EmergencyAppeals Fund
Music Fund|534
-
375,119|.|-
1,251
21,301|-
2,826
57,578|-
1,595
27,955|534
-
366,797| The Learning & Growing Fund tracks the financial activities of the Learning and Growing Vision Team. The Outreach Fund tracks the financial activities of the Outreach Vision Team. The Service and Caring Fund tracks the financial activities of the Service and Caring Vision Team. The fund includes sub-divisions for Ladies Night and Wednesday Afternoon Fellowship. The Youth and Children Fund tracks the financial activities of the Youth and Children Vision Team. The fund includes sub-divisions for various youth groups. ## ENete ete ee Page 13 FLEET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continu **e** d) a 10 DESIGNATED FUNDS (continued) The Property Management Fund tracks income and expenditure relating to the management and maintenance of the church property (buildings, equipment and grounds). The Property Development Fund contains funds set aside by the trustees for major refurbishment work to the church premises, as well as the proceeds of any external grants received for this purpose. The AV Replacement Fund represents contingency funding set aside for replacement of the church's audio-visual equipment. The Bequest Fund contains the proceeds of bequests received by the charity. The Buildings and Equipment Fund tracks the charity's assets, purchases and depreciation. The Music Fund contains funds to enable the church to buy a new piano. The Partner Projects Fund contains donations intended to be distributed to specific mission projects, as determined from time to time by the charity trustees (Church Council). The Mission Projects Fund contains funds collected for distribution to various 'mission' projects nominated by Church Council. The policy is to nominate projects for a 2-year period and to make disbursements once the fund reaches £1,000. This fund supersedes the former Partner Projects fund. The Emergency Appeals Fund has been created to deal with funds that are collected in connection with local, national or international emergencies, and which are recognised by Church Council as being under its control. Preschool Income includes an Early Years Education (EYE) grant from the Hampshire County Council totalling £65,231 for the year ended 31st August, 2021. 11 RESTRICTED FUNDS 2021 |2021||||||||| |---|---|---|---|---|---|---|---|---| ||Balance|at||||||Balance at| ||1 September||Income||Expenditure||Transfers|August| ||2020|||||||2021| |Worship & Prayer— Choir|£
223||£|-|£|-|£
-|£
223| |Benevolence Fund|249|.||-||-|-|249| |Projects— Boys’ Brigade
Projects — Girls’ Brigades
Projects—Pre-School
Projects—Pre-School Parents|2,443
1,974
24,398
9.650
38,937||——|-
-
-
=|-
-
-
-
amneall||( 2,443)
( 1,974)
(24,398)
-
(28,815)|-
-
-
9.650
10,122| The projects funds were reclassified from restricted to designated funds at the start of the year as although the income received into these funds is allocated for the particular projects, there are no restricted donations received for these purposes. ## a 5 ee ee epee eee we Page 14 FLEET METHODIST CHURCH ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 (continued) 11 ## RESTRICTED FUNDS (continued) |2020||||||| |---|---|---|---|---|---|---| ||Balance at|||||Balance at| ||1 September
2019|Income|Expenditure||Transfers|August
2020| ||£|£|z||£|£| |Worship& Prayer— Choir|223|-|-||-|223| |Benevolence Fund|249|-|-||-|249| |Projects~ Boys’ Brigade
Projects—Girls’ Brigades
Projects— Pre-School
Projects— Pre-School Parents|1,613
1,922
16,195
9,650|3,434
1,024
100,540
:|2,700
1,169
96,881
-|>|96
197
4,544
-|2,443
1,974
24,398
9,650| ||29,852|104.998|100,750||4,837|38,937| The Worship and Prayer Fund tracks the activities of the Worship and Prayer Vision Team. The fund includes a subdivision for the Choir. At the end of the year, this part of the fund contains a mixture of restricted and designated funding. The Benevolence Fund is intended by Methodist Standing Orders to be applied 'for the relief of poverty and distress in the congregation and neighbourhood". 12 ANALYSIS OF NET ASSETS BETWEEN FUNDS |2021|||| |---|---|---|---| ||Unrestricted|Restricted|Total| ||Funds|Funds|2021| ||£|£|£| |Fixed Assets
Net CurrentAssets|350,129
76,699
421,828|-
10,122
10,122|350,129
81,821
431,950| |2020|||| ||Unrestricted|Restricted|Total| ||Funds|Funds|2020| ||£|£|£| |Fixed Assets
Net CurrentAssets|362,145
22,831|-
38,937|362,145
61,768| ||384.976|38,937|423.913| 13. PAYMENTS TO TRUSTEES AND OTHER RELATED PARTY TRANSACTIONS Expenses totalling £701 (2020: £nil) were reimbursed to 1 (2020: 0) Trustee during the period for travel costs and other expenses incurred in their role as Trustee. No material transaction took place between the organisation and a trustee or any person connected with them. (2020: Enil) ## ne ## rr Se a Page 15