2022-08-31-accounts

FLEET METHODIST CHURCH

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

CHARITY COMMISSION NUMBER 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 2022

Contents

Contents	Page
Reference and Administrative Details	1
Trustees’ Annual Report	2-5
Independent Examiner’s Report	6
Statement of Financial Activities	7
Balance Sheet	8
NotestotheFinancialStatements	9-16

FLEET METHODIST CHURCH

REFERENCE AND ADMINISTRATIVE DETAILS

Charity Number 1127326

Start of Financial Year 1st September 2021 End of Financial Year 31st August 2022

Trustees	Rev. Nick Oborski
	Jayne Moore	David Ward
	Alan Goldring	lanna Goldring
	Dilanee Bunter	Brian Sexton
	Tim Bailey	Colin Johnston
	Gill Bunch	Thomas Oborski
	lan Moore	Alison Cross
	Sheila Flack	David Burrell
	Christopher Fry (res. 15/05/22)	Jackie Burrell (appt.15/05/22)
	Nina Curley	AnnAdams
	Maurice Raggett	John Willmott
	Pat Shepherd	Brenda Parker
	David Moll (res. 31/08/22)
	Pippa Gibbons
	CatherineReeves(res.15/05/2022)

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	Fleet Methodist Church
	Reading Road South
	Fleet
	Hants
	GU52 7TF
Primary Bankers	Lloyds Bank Pic.
	25 Gresham Street
	London
	EC2V7HN

Independent Examiners Paul Newton, Jacob Cavenagh & Skeet 5 Robin Hood Lane, Sutton, Surrey, SM1 2SW

i Page 1

FLEET METHODIST CHURCH

TRUSTEES’ ANNUAL REPORT

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 are regularly reminded about their responsibilities through circulation of material provided by the Methodist Church and the Charity Commission. New trustees are advised of their 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. e Within the Church, two Action Teams and Property and Finance Committees report to the Church Council three times a year.

• e A separate 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. iee Page 2

FLEET METHODIST CHURCH

TRUSTEES’ ANNUAL REPORT (continued)

Most church activity is undertaken by lay volunteers. However, the church employs an Administrator as well as a Supervisor and professional staff to operate Pre-School (in accordance with Ofsted requirements). The Presbyter (Minister) and the Children and Families Worker who serve church and community are 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 year, we provided a single service at 10:30 every Sunday with additional services at Christian festivals and on other special occasions. We have gradually relaxed our covid precautions — following Government and Methodist Church guidance. Weekly on-line services continued for much of the year but, for this year, were organised ona circuit-wide basis to spread the workload across the churches and individuals involved. These were primarily aimed at those who could not attend their church due to covid or other personal health concerns.

• e Weranan on-line course on the Methodist Way of Life and an in-person bible study on Isaiah. Both courses were valued by those who participated.

• e We-continued to offer regular ‘encounter’, house and other groups which have met on-line and face to face when possible. As a pilot, we held ‘tea and chat’ sessions during the summer gap of the Wednesday Afternoon Fellowship. These were successful and we hope to repeat them next year.

• e The usual presentations to local schools on the Christian significance of Christmas and Easter, carried out in conjunction with a local charity (FACCTS), resumed this year following a gap due to the pandemic.

• e We provided pastoral help and support to housebound church members, bereaved families and those experiencing other difficulties. As a pilot, we provided a mid-week service for those unable to, or concerned about, attending Sunday services. This was successful and has already been repeated in the subsequent year. It may become more frequent in the future.

• e Wecontinued to operate a successful Pre-School, which provides great opportunities for outreach and support to a significant number of young families in the surrounding community.

• e Junior Church activities for children and young people of all ages have been run in parallel with Sunday morning services. Ignite, our Sunday afternoon / evening fortnightly youth club, resumed meeting in person. We were also able to hold our ‘Light Party’ alternative to Halloween again.

• e Our Boys’ Brigade and Girls’ Brigade companies continue to operate and are another example of our service to the community.

• e We participated in local community events (including the Platinum Jubilee celebrations), as a means of outreach. We also opened our church to passers-by who wanted to reflect on the human tragedy of the Russian invasion of Ukraine.

• ° Through the FMC Mission initiative, we 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 beneficiaries for the year were ‘The Trinity Centre’ in Cardiff and ‘In Ministry to Children’, a children’s charity in Colombia.

• e In July, we celebrated the 50" anniversary of our current building, the latest in a tradition of Methodist worship and service in Fleet which stretches back to 1866.

Financial review

Statement of the Charity's Policy on Reserves

• e Maintain General Fund reserves equal to 6 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).

• e 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.

• a Page 3

FLEET METHODIST CHURCH

• Statement of the Charity's Policy on Reserves (continued) e Ensure that Pre-School reserves are sufficient to cover planned or unexpected closure (including redundancy payments to staff).

• e Set budgets for other church activities/groups, through the allocation of designated reserve funds. e 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.

Sources of Funds

• e Offerings and donations from members and those attending worship and other church activities e AGift Day e Tax recovery (Gift Aid) e Bequests (none this year) e Interest from bank deposits e Lettings of church premises to external organisations - Local authority grants and fees paid by parents to cover the cost of operating the Pre-School.

Expenditure on Objectives

• During the year,

• e £81,966 was paid to the Methodist Circuit to cover the cost of ministry; e financial donations amounting to £8,000 were made to local Christians Together initiatives and various local, national and international charities;

• e Church Council allocated a net amount of £441 from its General Fund to support Outreach and Youth/Children activities

• e Property maintenance costs totalled £25,582 e Administration and miscellaneous costs totalled £12,081.

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; e state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• e prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

Page 4

FLEET METHODIST CHURCH

TRUSTEES’ ANNUAL REPORT (continued)

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 6" March 2023 and signed on their behalf by: “aev. Nick Oborski Trustee

et gen gg nn re i gt

RE SS

Page 5

a

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

FLEET METHODIST CHURCH

| report to the charity trustees on my examination of the accounts of Fleet Methodist Church (the charity) for the year ended 31 August 2022 set out on pages 7 to 16.

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: 4. 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 Nhe Paul Newton FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW Date: |O Merch 10213

a Page 6

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FLEET METHODIST CHURCH

BALANCE SHEET AS AT 31 AUGUST 2022

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2022|2021| |Note|£|£|£|£| |Fixed|assets| |Tangible|fixed|assets|6|340,929|349,398| |Fixed|asset|investments|7|731|(31| |341,660|350,129| |Current|assets| |Debtors|8|29,749|9,464| |Cash|at|bank|and|in|hand|88,427|77,329| |118,176|‘|86,793| |Creditors:|Amounts|falling|due|within| |one|year|9|(5,017)|(_4,972)| |Net current assets|113,159|81,821| |Net assets|12|454,819|431,950| |Funds| |Designated|10|381,689|385,239| |Restricted|11|10,122|10,122| |General|(unrestricted|&|undesignated)|63,008||[36,589]| |Total funds|454,819|431,950|

----- End of picture text -----

Approved by the trustees on 6" March 2023 and signed on their behalf by:

Rev. Nick Oborski frustee

ee ee cece a gee eg ag ee RR Page 8

ec

FLEET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

• 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 2020), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The church.

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 its principal address of Fleet Methodist Church, Reading Road South, Fleet, Hants GU52 7TF 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. a Page 9

FLEET METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

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.

iA Page 10

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

FLEET METHODIST CHURCH

• 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	2022	2021
	£	£	£	£	£
Gifts and Donations	87,911	-	-	87,911	90,383
Gift Days Gift Aid Tax Recovered	8,135 20,273	- -	- -	8,135 20,273	16,317 25,432
Mission Projects	- 116,319	638 __638	- ss	638 116,957	249 132,381
b) Charitable Activities	General	Designated	Restricted	Total	Total
	Funds	Funds	Funds	2022	2021
	£	z	£	£	:
Pre-School Income	-	104,145	-	104,145	89,520
Boys’ Brigade Girls’ Brigade	- - -	2,705 1,256 108,106	- - -	2,705 1,256 108,106	15 289 89,824
c) Other trading activities	General	Designated	Restricted	Total	Total
	Funds	Funds	Funds	2022	2021
	£	£	£	£	£
Rental Income Fundraising Income	- - __-	5,864 3,413 9.277	- - =	5,864 3,413 9277	9,580 __2,287 _411,867

eS a Page 11

FLEET METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

2 INCOME (continued)

	d)	Investment Income
			General	Designated	Restricted	Total	Total
			Funds	Funds	Funds	2022	2021
			£	£	£	£	E
	Interest Received		35	-	-	35	25
			35	-	-	35	25
3		EXPENDITURE
		Charitable Activities
			General	Designated	Restricted	Total	Total
			Funds	Funds	Funds	2022	2021
			a	£	&	£	£
		Administrative Expenses	5,250	1,249	-	6,499	1,874
		Boys' Brigade	-	2,058	-	2,058	1,294
		Circuit Assessment	61,500	-	-	61,500	81,863
		Depreciation Expenses Girls' Brigade	- -	8,469 1,267	- -	8,469 1,267	12,017 700
		Governance costs (see below)	2,400	-	-	2,400	2,130
		Grants & Donations	8,000	534	-	8,534	10,174
		Insurance	-	2,123	-	2,723	2,559
		Pre-School Costs	-	89 949	-	89,949	89,765
		Repairs & Maintenance	-	8,154	-	8,154	7,919
		Sundry Expenses Utility Costs	4,368 - 81,518	2,103 14,604 131,110	- - -	6,471 14,604 212,628	2,634 13,943 226,872
		Governance Costs
			General	Designated	Restricted	Total	Total
			Funds	Funds	Funds	2022	2021
			£	£	£	£	£
		Independent examination Accountancy fees	1,320 1,080	- -	- -	1,320 1,080	1,050 1,080
		Legal and professional fees	- 2,400	- ened	- _—	= 2,400	: 2,130
4		STAFF COSTS AND NUMBERS
						2022	2021
						£	2
		GrossWages and Salaries				86,622	76,625
		Employer's National Insurance Pension Contributions	Costs			3 5,070	- 4,749
						91,692	81,374

The average number of employees during the year was 6 (2021:6). No employees received emoluments in excess of £60,000. (2021: Enil).

A pension scheme is offered to eligible employees and employer contributions were paid during this financial year on behalf of 6 employees.

i re Page 12

FLEET METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

6	TANGIBLE FIXED ASSETS
		Land and	Fixtures	General	Total
		Buildings	& Fittings	Equipment
		£	£	£	£
	Cost or valuation
	At 1 September 2021	325,000	1,270	269,080	595,350
	Additions for year	-	-	-	-
	Disposals At 31 August 2022	- 325,000	- 1,270	- 269,080	- 595,350
	Accumulated depreciation
	At 1 September 2021	-	1,098	244,854	245,952
	Charge for year	-	57	8,412	8,469
	At 31 August 2022	-	1,155	253,266	254,421
	Net book value
	At 31 August 2022	325,000	115	15,814	340,929
	At 31 August 2021	325,000	172	24,226	349,398
7	INVESTMENTS
				2022	2021
				£	£
	TMCP Bequests Account			731	131
8	DEBTORS
				2022	2021
				£	£
	Prepayments and accrued income Income tax recoverable			21,525 8,224	- 9.464
				29,749	9,464
9	CREDITORS

	2022	2021
	£	£
Independent examiners fee PAYE & NI	2,400 1,666	2,400 1,621
Pension Contributions due	_951	_951
	5,017	4,972

a Page 13

FLEET METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS 20220 FORTHE YEARENDED 31 AUGUST

10 DESIGNATED FUNDS

	Balance at				Balance at
	1 September	Income	Expenditure	Transfers	August
	2021				2022
	£	£	ad	£	£
Outreach Fund	-	-	281	281	-
Service & Caring — Main Fund	367	-	-	-	367
Service & Caring —WAF	57	1,023	755	(250)	75
Worship & Prayer— Main	-	-	867	867	-
Youth and Children	-	-	160	160	-
Property Management	-	8,254	25,594	17,340	-
Projects — Boys’ Brigade	864	2,705	2,058	218	1,729
Projects — Girls’ Brigades Projects— Pre-School	1,563 28,924	1,256 104,145	1,267 89,989	76 (9,153)	1,628 33,927
AV Replacement Fund	2,807	-	1,136	-	1,671
Bequests Fund	725	-	-	-	725
Building & Equipment Fund	349,398	-	8,469	-	340,929
FMC Mission	-	638	-	-	638
Emergency Appeals Fund	534 385,239	- 118,021	534 131,110	- 9,539	- 381,689
	Balance at				Balance at
	1 September	Income’	Expenditure	Transfers	August
	2020				2021
	£	£	£	£	£
Outreach Fund	-	-	358	358	-
Service & Caring — Main Fund Service & Caring —WAF	367 Sf	- -	- -	- -	367 57
Worship & Prayer— Main	-	-	1,186	1,186	-
Youth and Children	-	-	93	93	-
Property Management Projects— Boys’ Brigade Projects — Girls’ Brigades Projects— Pre-School AV Replacement Fund Bequests Fund Building & Equipment Fund FMC Mission	- - - ~ 2,807 725 361,415 892	11,867 15 289 89,520 - - - 249	24,601 1,294 700 89,765 - - 12,017 2,174	12,734 2,143 1,974 29,169 - - - 1,033	- 864 1,563 28,924 2,807 725 349,398 -
Emergency Appeals Fund	534 366,797	- 101,940	- 132,188	- 48.690	534 385,239

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.

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FLEET METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

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 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 £77,461 for the year ended 31st August, 2022.

11 RESTRICTED FUNDS

2022
	Balance at					Balance at
	1	September	Income	Expenditure	Transfers	August
		2021				2022
		£	£	£	£	£
Worship & Prayer— Choir Benevolence Fund		223 249	- -	- -	- -	223 249
Projects — Boys’ Brigade		-	-	-	-	-
Projects — Girls’ Brigades		-	-	-	7	-
Projects — Pre-School Projects — Pre-School Parents		- 9.650 10,122	- - a:	- - ee:	= - ——_——	= 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.

i

Hn Page 15

FLEET METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 (continued)

11 RESTRICTED FUNDS (continued)

2021
		Balance at				Balance at
	1	September	Income	Expenditure	Transfers	August
		2020				2021
		£	£	E	£	£
Worship & Prayer— Choir		223	-	-	-	223
Benevolence Fund		249	-	-	-	249
Projects — Boys’ Brigade		2,443	-	-	( 2,443)	-
Projects — Girls’ Brigades Projects— Pre-School		1,974 24,398	- -	- -	( 1,974) (24,398)	- -
Projects — Pre-School Parents		9,650	-	-	-	9,650
		38,937	ee	a	(28,815)	10,122

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

2022
	Unrestricted	Restricted	Total
	Funds	Funds	2022
	E	£	£
Fixed Assets	341,660	-	341,660
Net Current Assets	103,037	10,122	113,159
	444 697	10,122	454,819
2021
	Unrestricted	Restricted	Total
	Funds	Funds	2021
	£	£	£
Fixed Assets	350,129	-	350,129
Net CurrentAssets	71,699	10,122	_81,821
	421,828	10,122	431,950

13 PAYMENTS TO TRUSTEES AND OTHER RELATED PARTY TRANSACTIONS

Expenses totalling £nil (2021: £701) were reimbursed to no (2021: 1) Trustees during the period for travel costs and other expenses incurred in their role as Trustees. No material transaction took place between the organisation and a trustee or any person connected with them. (2021: Enil) i a Page 16