PRIVATE & CONFIDENTIAL
K Weir & C Bowstead Wokingham Methodist Church Rose Street Wokingham RG40 1XS
30 March 2023 Our Ref: WOK01
Dear Kerry & Catherine
WOKINGHAM METHODIST CHURCH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
The financial statements are now finalised and are enclosed for your attention, as follows:
Financial statements
If approved please sign the financial statements where indicated.
In addition, I enclose a letter of representation setting out our understanding of various issues relating to the accounts. Please would you read this carefully and, if you are in agreement with all the points listed, would you please sign and date the letter where indicated.
General matters
I look forward to receiving the signed documents in due course, however, if you would like to discuss any of the above before signing please do not hesitate to contact me. Please note that our work is subject to our Terms of Engagement and Terms of Business, which are available to view on our website at www.bwbca.uk/legalbits.
Yours sincerely
Paul Williams FCA
Signed for and on behalf of BWBCA Limited
REGISTERED CHARITY NUMBER: 1127336
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 August 2022
for
WOKINGHAM METHODIST CHURCH
BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH
WOKINGHAM METHODIST CHURCH
Contents of the Financial Statements for the Year Ended 31 August 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 4 |
| Independent Examiner's Report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 to 17 |
| Detailed Statement of Financial Activities | 18 to 19 |
WOKINGHAM METHODIST CHURCH
Report of the Trustees for the Year Ended 31 August 2022
The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
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; and
b) Any charitablepurposefor the time being of any Connexional,district, circuit, local or other organisationof 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.
The Church is one of a group of local churches within the Berkshire Surrey Borders Methodist Circuit. Circuits combine to form about 30 districts in Britain. Although there is some autonomy, all Methodist organisations in Britain are governed by statutes determined by the Methodist Conference and which are published in the ConstitutionalPracticeand Disciplineof the MethodistChurch.The Conferenceis the body that agreespolicy for the Methodist Church. Business for the Conference to decide upon is prepared by the Methodist Council, an elected body that meets regularly. Both Conference and Council consist of lay and clerical members.
Public benefit
The trustees have considered the guidance provided by the Charity Commission in connection with public benefit and the work of the church.
Summary of the main activities undertaken for the public benefit in relation to the objects of the charity:
a) Provision of regular public acts of worship open to members of the church and non-members alike b) Pastoral work including visiting the sick and bereaved
c) Promotion of Christian activities through the staging of events and services
d) Supporting other charities in the UK and overseas financially and with prayer
e) The teaching of Christianity through sermons, courses and small groups
f) Taking religious assemblies in local schools
Grant-making
The Church does not make grants to organisationsoutside the Methodist Church from its own funds, but it does often provide a channel for its members to make contributions to other charitable organisations working in the local community or globally to further objectives that are complementary to our own objectives.
Volunteers
In line with many other charities, the Church relies on its volunteers to carry out its work in the community. The Church Council and Minister thank all the members and adherents who assist in this way for their support.
Page 1
WOKINGHAM METHODIST CHURCH
Report of the Trustees for the Year Ended 31 August 2022
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Our Church continued to offer a wide range of Christian worship and community service this year. The impact of the COVID-19 pandemic has reduced, but it continued to affect our activities particularly in the winter months due to the Omicron variant. Attendances have built up in the latter part of the year, though not yet back to pre-pandemic levels. Worship has continued in the church building each week, and a recording of the service is provided online the same day. A weekly pastoral letter and notice sheet is distributed by email, and we have also taken care to maintain contact and support for the housebound and those without internet connections.
In Septemberwe were pleasedto launch our new 'Fresh Start' BreakfastChurch,an informalworship opportunity with breakfast, encompassing a variety of activities for all ages and meeting monthly on Saturday mornings. We were also delighted to restart 'Creative Spirit', our monthly midweek art and craft-based worship sessions.
The Bradbury centre continued to be used for a variety of both Church sponsored and community based projects, to the extent that this was possible within the COVID restrictions. We are pleased that the use of the centre increased in the latter part of the year as more groups resumed their activities. We were also able to resume our fund raising events for local and national charities such as Thames Hospice and The Cowshed.
We have continued our work with young people and young families in the Church and surrounding community. Our Little Fishes sessionsresumedfrom September,offeringfreesafe play space for preschoolchildrenand their carers, and are very popular. Our activities for school-age children and young people have been severely impacted by the pandemic, but we will continue to explore opportunities and maintain contact with their families.
Our CommunityOutreach Workeris engagedin variousprojectspromotingour work in the local community. The Alzheimer's café for people living with dementia and their carers, and its associated support group for carers, were able to resume operating from September and continued to be very popular, vital services, attracting a number of new people.
Café Mosaic has recovered well as the COVID restrictions have reduced. Serving of lunches restarted from September,and the café has become a popular meeting place for several community and charity groups. We are delighted to have the assistance of our friends from CLASP, a local charity helping people with learning disabilities.
Our work is supported by a large number of volunteers, particularly in Café Mosaic and in our work with children and young people.All our workersdealingwith children,young peopleand vulnerableadults are DBS checked and participate in safeguarding training as required by The Methodist Church.
FINANCIAL REVIEW
Reserves policy
It is the policy of the Church to maintain unrestricted funds, which are the free reserves of the Church, at a level which equates to at least four months unrestricted expenditure in order to provide sufficient funds to cover management,administrationand support costs in the immediate future, plus a sum to cover future maintenance liabilities. During COVID lockdowns, although the congregational income was maintained, the revenue from our lettings was severely impacted and as a result the reserves are currently below our preferred 4 month level. The Church has launched an appeal to the congregation to make one off donations/increase giving, the Circuit has given us a temporary reduction in the assessment we have to pay and we have also seen a recovery in lettings in recent months.We are thereforehopefulthat we can rebuildour reservesback up to 4 months by end of the next financial year.
The Property Fund (part of the Restricted Funds) stands at £31,472 after £14,487 of expenditure in the year. Quinquennial inspections take place every five years (next due in 2023) to identify any refurbishment work required. Given the age of the building, we feel it prudent to maintain the property reserve.
Page 2
WOKINGHAM METHODIST CHURCH
Report of the Trustees for the Year Ended 31 August 2022
FINANCIAL REVIEW
The Charity recorded a deficit of £12,687 (2021: £8,469) on its unrestricted funds for the year. The COVID-19 pandemic continued to have an adverse effect on the income of the Bradbury Centre and Café Mosaic, with a smaller impact on income from donations. In order to help mitigate the loss of income suffered, the Circuit reduced the assessment due for the year.
There was no legacy income in the year (2021: £nil).
Unrestricted funds (note 16)
Unrestricted funds have decreased to £1,325,004 (2021: £1,337,691). Included in these reserves is a revaluation fund of £1,186,652 for the freehold property based on a valuation undertaken in 2004.
The trustees have previouslyagreed to designate certain funds to aid the future work of the church; accordingly, there is a Future Staffing fund and a Technology fund, both of which can be re-allocated to general purposes, if need be. Other designated funds include the Alzheimer's Café and Fish Mosaic funds.
Restricted funds (note 16)
Total restrictedfunds are £558,198(2021: £629,912).The main expenditurein the year is the depreciation charge on the Bradbury development of £57,227 (2021: £57,227) which relates to the redevelopment project.
FUTURE PLANS
As the effects of the COVID-19 pandemic diminish, the Minister, Stewards and Church Council are considering ways to increase our activities and the use of our premises in line with our charitable objectives. The ongoing work in the Community Centre will be an ever present challenge to us all as we shall continue to need many volunteers and committed members to organise the various planned activities.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Methodist Church Act 1976.
Recruitment and appointment of new trustees
Certain members are appointed to Church Council by virtue of the office they hold within the Church. Church Council is responsible for making such appointments.
Church Stewards and Representativesof the congregationare appointed at the Church Annual General Meeting normally held in March or April each year.
Organisational structure
Overall control rests with the Methodist Conference.
The Connexional Office implements decisions made by Conference and is also responsible for the stationing of Ministers in individual Circuits.
Connexional decisions are passed to the chair of the District and the appropriate Officers of the District for regional implementation.
The District pass the control down to Circuit level for local implementation by the Superintendent Minister, Ministerial Staff and Circuit stewards, and authority is delegated to the circuit meeting for certain matters.
The Circuit Meeting passes control down to the Church Councils for local implementation by the Minister, the Church Stewards and other officers, and authority is delegated to Church Councils acting as Managing Trustees.
The Methodist Connexional year runs from 1 September to 31 August.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. Financial procedures and controls are reviewed regularly.
Page 3
WOKINGHAM METHODIST CHURCH
Report of the Trustees for the Year Ended 31 August 2022
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1127336
Principal address
The Methodist Centre Rose Street Wokingham Berkshire RG40 1XS
Trustees
C Bowstead, J Bonney, S Colbourn, I Cole, D Goddard, E Goddard, M Goddard, K Hammond, P Hammond, J Horsnell, M Jackson, J Jones, C Knight, G Manning, S Moore, D Morgan,C Morgan, R MorganBarry,J Rodhouse, C Rooke-Matthews, M Shepherd, M Souter, K Tame, K Weir, M Wells and L Wheaton.
The following Trustees were appointed during the year to 31 August 2022: E Goddard (April 2022) M Goddard (April 2022) D Goddard (June 2022)
The following Trustees ceased to be Trustees during the year to 31 August 2022: B Knee (September 2021) K Souter (January 2022) A Honeyman (April 2022)
Independent Examiner
BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH
Bankers
Lloyds Bank PLC Victoria Branch PO Box 1000 BX1 1LT
Mar 30, 2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Catherine Bowstead (Mar 30, 2023 13:56 GMT+1) ........................................................................ C Bowstead - Trustee
Page 4
Independent Examiner's Report to the Trustees of Wokingham Methodist Church
Independent examiner's report to the trustees of Wokingham Methodist Church
I report to the charity trustees on my examination of the accounts of Wokingham Methodist Church (the Trust) for the year ended 31 August 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the 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 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
BWBCA Limited
BWBCA Limited (Mar 31, 2023 06:32 GMT+1)
P Williams ICAEW BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH Mar 31, 2023 Date: .............................................
Page 5
WOKINGHAM METHODIST CHURCH
Statement of Financial Activities for the Year Ended 31 August 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 5 Church activities Other trading activities 3 Investment income 4 Total EXPENDITURE ON Charitable activities 6 Church activities Other 8 Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.8.22 Unrestricted Restricted Total funds funds funds £ £ £ 153,007 - 153,007 40,608 - 40,608 65,364 - 65,364 460 - 460 259,439 - 259,439 215,606 57,227 272,833 56,520 14,487 71,007 272,126 71,714 343,840 (12,687) (71,714) (84,401) 1,337,691 629,912 1,967,603 1,325,004 558,198 1,883,202 |
31.8.21 Total funds £ 118,025 13,060 34,460 221 165,766 201,933 33,753 235,686 (69,920) 2,037,523 1,967,603 |
|---|---|---|
The notes form part of these financial statements
Page 6
WOKINGHAM METHODIST CHURCH
Balance Sheet 31 August 2022
| Notes FIXED ASSETS Tangible assets 12 CURRENT ASSETS Debtors 13 Investments 14 Cash at bank CREDITORS Amounts falling due within one year 15 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 1,187,583 46,098 20,000 128,747 194,845 (57,424) 137,421 1,325,004 1,325,004 |
Restricted funds £ 529,079 - - 29,119 29,119 - 29,119 558,198 558,198 |
31.8.22 Total funds £ 1,716,662 46,098 20,000 157,866 223,964 (57,424) 166,540 1,883,202 1,883,202 1,325,004 558,198 1,883,202 |
31.8.21 Total funds £ 1,774,937 43,094 30,000 152,435 225,529 (32,863) 192,666 1,967,603 1,967,603 1,337,691 629,912 1,967,603 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: Mar 30, 2023
............................................. Catherine Bowstead (Mar 30, 2023 13:56 GMT+1) C Bowstead - Trustee
Kerry Weir
Kerry Weir (Mar 31, 2023 06:08 GMT+1) ............................................. K Weir - Trustee
The notes form part of these financial statements
Page 7
WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financialstatements of the charity, which is a publicbenefitentity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the CharitiesAct 2011. The financial statements have been preparedunder the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probatehas been granted,the estate has been finalisedand notificationhas been made by the executor(s) to the Trust that a distributionwill be made, or when a distributionis receivedfrom the estate.Receiptof a legacy, in whole or in part, is only considered probablewhen the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the facility or item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised and refer to the Trustees' report for more information about their contribution.
On receipt,donatedprofessionalservicesand donatedfacilitiesare recognisedon the basisof the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a correspondingamount is then recognised in expenditure in the period of receipt.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligationcan be measured reliably. Expenditureis accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Volunteers and donated services and facilities
The value of services provided by volunteers is not incorporated into these financial statements.
Going concern
The trustees have continued to adopt the going concern basis for preparing these financial statements. They have done so on the grounds that the charity has and continues to have sufficient funds to meet its obligations as they fall due.
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WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Development expenditure - 10% on cost and 4% on cost Furniture, fittings & equipment - 25% on cost, 20% on cost and 10% on cost
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is not charged on freehold land.
Taxation
The charity is exempt from tax on its charitable activities.
Funds structure
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administeringsuch funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Liabilities and provisions
Liabilitiesare recognisedwhen there is an obligationat the balancesheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has receivedas advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.
Investments
Investments are included as current assets at their market value.
2. DONATIONS AND LEGACIES
| Tax recovered under covenant and gift aid Standing orders, donations and collections Collections for external organisations Sundry donations |
31.8.22 £ 24,955 92,138 4,252 31,662 153,007 |
31.8.21 £ 20,543 87,047 1,238 9,197 |
|---|---|---|
| 118,025 |
Included within sundry donations is £2,954 which relates to the recovery of misappropriated funds.
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WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
3. OTHER TRADING ACTIVITIES
| Lettings Coffee shop Reprographics & printing Feed in tariff 4. INVESTMENT INCOME Interest on Central Finance Board accounts 5. INCOME FROM CHARITABLE ACTIVITIES Income from internal church organisations Circuit grants District grants 6. CHURCH ACTIVITIES Church activities 7. SUPPORT COSTS Management £ Other resources expended - Church activities 234,661 234,661 |
31.8.22 £ 43,384 19,225 328 2,427 65,364 31.8.22 £ 460 |
31.8.21 £ 27,190 2,943 - 4,327 34,460 31.8.21 £ 221 |
|||
|---|---|---|---|---|---|
| 31.8.22 | 31.8.21 | ||||
| £ | £ | ||||
| 23,119 | 1,499 | ||||
| 17,249 | 11,561 | ||||
| 240 | - | ||||
| 40,608 | 13,060 | ||||
| Direct Costs £ 37,815 Finance £ - 357 357 |
Support costs (see note 7) £ 235,018 Governance costs £ 1,359 - 1,359 |
Totals £ 272,833 Totals £ 1,359 235,018 236,377 |
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WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued
for the Year Ended 31 August 2022
7. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
Management
| Insurance Postage and stationery Circuit assessment Depreciation Youth & community and admin costs Charity running costs Admin support costs Finance Bank charges Governance costs Independent examiner fees Accountancy & bookkeeping 8. OTHER Coffee shop costs Cleaning Repairs - routine maintenance Repairs - service contracts Telephone & internet Utilities Repairs - programmed refurb Support costs |
31.8.22 Church activities £ 3,788 2,678 78,735 58,276 81,489 6,859 2,836 234,661 31.8.22 Church activities £ 357 31.8.22 Other resources expended £ 500 859 1,359 31.8.22 £ 4,751 22,381 14,304 7,454 2,161 10,315 8,282 1,359 71,007 |
31.8.21 Total activities £ 3,719 2,643 64,860 58,325 59,475 5,823 2,136 196,981 31.8.21 Total activities £ 165 31.8.21 Total activities £ 500 787 1,287 31.8.21 £ 1,368 10,531 3,026 6,649 2,153 6,330 2,409 1,287 33,753 |
|---|---|---|
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WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
9. TRUSTEES' REMUNERATION AND BENEFITS
C Knight is a Trustee of the Charity who is employed by the Circuit as a Church and Community Outreach Team Leader. She provides the Charity with services including youth and community outreach as well as management of the Bradbury Centre and its support team. In the financial year 2021-22 the Charity contributed £28,362 (2020-21 £19,870) to the Circuit towards the cost of providing those services.
No other trustee or member of the Church Council has received any remuneration although some have been repaid for sums paid out on behalf of the church.
Trustees' expenses
The following trustees were reimbursed expenses during the year:
| The following trustees were reimbursed expenses during the year: | ||
|---|---|---|
| 31.8.22 | 31.8.21 | |
| £ | £ | |
| M Wells | 29 | 449 |
| C Bowstead | - | 585 |
| G Manning | 190 | - |
| C Morgan | 120 | 765 |
| D Morgan | 480 | - |
| C Rooke-Matthews | - | 23 |
| J Jones | 7 | - |
| 826 | 1,822 | |
The nature of the expenses relates to the everyday general running of the charity.
10. STAFF COSTS
The church has not paid any salaries, although a contribution has been made to the Circuit towards the ministers' stipends and a contribution is also made towards the salary of Church and Community Outreach Team Leader. These costs are shown under support costs.
11. 2021 - COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Church activities Other trading activities Investment income Total EXPENDITURE ON Charitable activities Church activities Other Total |
Unrestricted funds £ 118,025 13,060 34,460 221 165,766 144,705 29,530 174,235 |
Restricted funds £ - - - - - 57,228 4,223 61,451 |
Total funds £ 118,025 13,060 34,460 221 |
|---|---|---|---|
| 165,766 | |||
| 201,933 33,753 |
|||
| 235,686 |
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WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
| 11. 2021 - COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted funds £ NET INCOME/(EXPENDITURE) (8,469) Transfers between funds 2,895 Net movement in funds (5,574) RECONCILIATION OF FUNDS Total funds brought forward 1,343,266 TOTAL FUNDS CARRIED FORWARD 1,337,692 12. TANGIBLE FIXED ASSETS Freehold land & Development buildings expenditure £ £ COST At 1 September 2021 and 31 August 2022 1,186,652 1,466,448 DEPRECIATION At 1 September 2021 - 880,142 Charge for year - 57,227 At 31 August 2022 - 937,369 NET BOOK VALUE At 31 August 2022 1,186,652 529,079 At 31 August 2021 1,186,652 586,306 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Gift aid receivable Prepayments & accrued income |
11. 2021 - COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES - Unrestricted funds £ NET INCOME/(EXPENDITURE) (8,469) Transfers between funds 2,895 Net movement in funds (5,574) RECONCILIATION OF FUNDS Total funds brought forward 1,343,266 TOTAL FUNDS CARRIED FORWARD 1,337,692 12. TANGIBLE FIXED ASSETS Freehold land & Development buildings expenditure £ £ COST At 1 September 2021 and 31 August 2022 1,186,652 1,466,448 DEPRECIATION At 1 September 2021 - 880,142 Charge for year - 57,227 At 31 August 2022 - 937,369 NET BOOK VALUE At 31 August 2022 1,186,652 529,079 At 31 August 2021 1,186,652 586,306 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Gift aid receivable Prepayments & accrued income |
continued Restricted funds £ (61,451) (2,895) (64,346) 694,257 629,911 Furniture, fittings & equipment £ 45,259 43,280 1,048 44,328 931 1,979 31.8.22 £ 792 12,431 32,875 46,098 |
Total funds £ (69,920) - (69,920) 2,037,523 1,967,603 Totals £ 2,698,359 923,422 58,275 981,697 1,716,662 1,774,937 31.8.21 £ 584 8,186 34,324 43,094 |
|
|---|---|---|---|---|
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WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
14. CURRENT ASSET INVESTMENTS
| Central Finance Board Accounts - TMCP TIF 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors VAT Accruals and deferred income Accrued expenses 16. MOVEMENT IN FUNDS At 1.9.21 £ Unrestricted funds General fund 64,728 Revaluation fund - property 1,186,652 Technology fund 1,661 Internal church organisations 28,680 Minister's Discretionary fund 1,078 Rose St fund 1,200 Future staffing fund 47,975 Alzheimers cafe fund 3,021 Fish Mosaic fund 2,217 Night shelter 348 Charity pass through 131 Appeal fund - 1,337,691 Restricted funds Redevelopment fund 583,953 Property fund 45,959 629,912 TOTAL FUNDS 1,967,603 |
Central Finance Board Accounts - TMCP TIF 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors VAT Accruals and deferred income Accrued expenses 16. MOVEMENT IN FUNDS At 1.9.21 £ Unrestricted funds General fund 64,728 Revaluation fund - property 1,186,652 Technology fund 1,661 Internal church organisations 28,680 Minister's Discretionary fund 1,078 Rose St fund 1,200 Future staffing fund 47,975 Alzheimers cafe fund 3,021 Fish Mosaic fund 2,217 Night shelter 348 Charity pass through 131 Appeal fund - 1,337,691 Restricted funds Redevelopment fund 583,953 Property fund 45,959 629,912 TOTAL FUNDS 1,967,603 |
Year Ended | Year Ended | Year Ended | Year Ended | Year Ended |
|---|---|---|---|---|---|---|
| 31.8.22 | 31.8.21 | |||||
| £ | £ | |||||
| 20,000 | 30,000 | |||||
| Net movement in funds £ (15,267) - (145) (6,428) (550) - (10,853) (1,128) - - 537 21,147 (12,687) (57,227) (14,487) (71,714) (84,401) |
31.8.22 £ 14,550 121 41,728 1,025 57,424 Transfers between funds £ 9,292 - - (9,292) - - - - - - - - - - - - - |
31.8.21 £ 1,649 239 30,000 975 32,863 At 31.8.22 £ 58,753 1,186,652 1,516 12,960 528 1,200 37,122 1,893 2,217 348 668 21,147 1,325,004 526,726 31,472 558,198 1,883,202 |
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continued...
WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Technology fund Internal church organisations Minister's Discretionary fund Future staffing fund Alzheimers cafe fund Charity pass through Appeal fund Restricted funds Redevelopment fund Property fund TOTAL FUNDS |
Incoming resources £ 209,193 - 23,119 99 - 1,708 4,173 21,147 259,439 - - - 259,439 |
Resources Movement expended in funds £ £ (224,460) (15,267) (145) (145) (29,547) (6,428) (649) (550) (10,853) (10,853) (2,836) (1,128) (3,636) 537 - 21,147 (272,126) (12,687) (57,227) (57,227) (14,487) (14,487) (71,714) (71,714) (343,840) (84,401) |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Revaluation fund - property Technology fund Internal church organisations Minister's Discretionary fund Rose St fund Future staffing fund Alzheimers cafe fund Fish Mosaic fund Night shelter Charity pass through Restricted funds Redevelopment fund Property fund TMCP TIF fund TOTAL FUNDS |
At 1.9.20 £ 64,071 1,186,652 1,855 29,513 1,078 100 54,292 3,009 2,217 348 131 1,343,266 641,180 50,182 2,895 694,257 2,037,523 |
Net movement in funds £ (2,238) - (194) (833) - 1,100 (6,317) 12 - - - (8,470) (57,227) (4,223) - (61,450) (69,920) |
Transfers between funds £ 2,895 - - - - - - - - - - 2,895 - - (2,895) (2,895) - |
At 31.8.21 £ 64,728 1,186,652 1,661 28,680 1,078 1,200 47,975 3,021 2,217 348 131 |
|---|---|---|---|---|
| 1,337,691 583,953 45,959 - |
||||
| 629,912 | ||||
| 1,967,603 |
Page 15
continued...
WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Technology fund Internal church organisations Rose St fund Future staffing fund Alzheimers cafe fund Charity pass through Restricted funds Redevelopment fund Property fund TOTAL FUNDS |
Incoming resources £ 158,564 - 2,716 1,100 - 2,148 1,238 165,766 - - - 165,766 |
Resources Movement expended in funds £ £ (160,802) (2,238) (194) (194) (3,549) (833) - 1,100 (6,317) (6,317) (2,136) 12 (1,238) - (174,236) (8,470) (57,227) (57,227) (4,223) (4,223) (61,450) (61,450) (235,686) (69,920) |
|---|---|---|
Unrestricted funds
Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitable objects. As can be seen from the above table, the trustees have chosen to designate some of these funds for particular purposes. Designation is for internal reporting purposes and can be revised by the trustees at a later date.
Restricted funds
Restricted funds are funds provided for a particular purpose or projects and accordingly cannot be used for any other purpose without the consent of the donors.
Redevelopment fund
It is intended to hold any excess funding over the capital cost of the Bradbury Centre as a fund to meet future repairs and maintenance costs of the Centre. At present the depreciation on this building work is being charged to the fund.
Property fund
The property fund has been set up from the balance of funds from the development and will be used to defray maintenance and repair costs which are likely to accrue in the future.
Transfers between funds
A transfer of £9,292 was made between general and internal funds in order to realign the internal organisations net assets with the amounts represented in internal fund balances.
Page 16
continued...
WOKINGHAM METHODIST CHURCH
Notes to the Financial Statements - continued for the Year Ended 31 August 2022
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 August 2022.
Page 17
WOKINGHAM METHODIST CHURCH
Detailed Statement of Financial Activities for the Year Ended 31 August 2022
| 31.8.22 | 31.8.21 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Tax recovered under covenant and gift aid | 24,955 | 20,543 |
| Standing orders, donations and collections | 92,138 | 87,047 |
| Collections for external organisations | 4,252 | 1,238 |
| Sundry donations | 31,662 | 9,197 |
| 153,007 | 118,025 | |
| Other trading activities | ||
| Lettings | 43,384 | 27,190 |
| Coffee shop | 19,225 | 2,943 |
| Reprographics & printing | 328 | - |
| Feed in tariff | 2,427 | 4,327 |
| 65,364 | 34,460 | |
| Investment income | ||
| Interest on Central Finance Board accounts | 460 | 221 |
| Charitable activities | ||
| Income from internal church organisations | 23,119 | 1,499 |
| Grants | 17,489 | 11,561 |
| 40,608 | 13,060 | |
| Total incoming resources | 259,439 | 165,766 |
| EXPENDITURE | ||
| Charitable activities | ||
| Costs incurred by internal church | ||
| organisations | 24,286 | 1,011 |
| Donations by the church | 8,268 | 1,238 |
| Donations by internal organisations | 5,261 | 2,538 |
| 37,815 | 4,787 | |
| Other | ||
| Coffee shop costs | 4,751 | 1,368 |
| Cleaning | 22,381 | 10,531 |
| Repairs - routine maintenance | 14,304 | 3,026 |
| Repairs - service contracts | 7,454 | 6,649 |
| Telephone & internet | 2,161 | 2,153 |
| Utilities | 10,315 | 6,330 |
| Repairs - programmed refurb | 8,282 | 2,409 |
| 69,648 | 32,466 |
This page does not form part of the statutory financial statements
Page 18
WOKINGHAM METHODIST CHURCH
Detailed Statement of Financial Activities
for the Year Ended 31 August 2022
| 31.8.22 | 31.8.21 | |
|---|---|---|
| £ | £ | |
| Support costs | ||
| Management | ||
| Insurance | 3,788 | 3,719 |
| Postage and stationery | 2,678 | 2,643 |
| Circuit assessment | 78,735 | 64,860 |
| Depreciation | 58,276 | 58,325 |
| Youth & community and admin costs | 81,489 | 59,475 |
| Charity running costs | 6,859 | 5,823 |
| Admin support costs | 2,836 | 2,136 |
| 234,661 | 196,981 | |
| Finance | ||
| Bank charges | 357 | 165 |
| Governance costs | ||
| Independent examiner fees | 500 | 500 |
| Accountancy & bookkeeping | 859 | 787 |
| 1,359 | 1,287 | |
| Total resources expended | 343,840 | 235,686 |
| Net expenditure | (84,401) | (69,920) |
This page does not form part of the statutory financial statements
Page 19
Wokingham Methodist Church Rose Street Wokingham RG40 1XS
For the attention of: Paul Williams BWBCA Limited Dukes Court Duke Street Woking Surrey GU21 5BH
Dear Sirs
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your report on the charity’s financial statements for the year ended 31 August 2022. These enquiries have included inspection of supporting documentation where appropriate and are sufficient to satisfy ourselves that we can make each of the following representations. All representations are made to the best of our knowledge and belief.
General
-
We acknowledge that the work performed by you is substantially less in scope than an audit performed in accordance with International Standards on Auditing (UK) and that you do not express an audit opinion.
-
We confirm that the charity was entitled to exemption under section 144 of the Charities Act 2011 from the requirement to have its financial statements for the financial year ended 31 August 2022 audited.
-
We have fulfilled our responsibilities as trustees as set out in the terms of your engagement letter dated 9 January 2019 under the Charities Act 2011 for preparing financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view.
-
All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
-
All the accounting records and related financial information, including minutes of all management and trustee meetings and correspondence with The Charity have been made available to you for the purpose of your work.
Assets and liabilities
-
The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed as applicable in the notes to the financial statements.
-
All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as applicable.
-
We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
Loans and arrangements
- The charity has not granted any advances or credits to, or made guarantees on behalf of, trustee other than those disclosed in the financial statements.
Legal claims
- We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed as applicable in the financial statements.
Laws and regulations
- We have disclosed to you all known instances of non-compliance or suspected noncompliance with laws and regulations whose effects should be considered when preparing the financial statements.
Related parties
- Related party relationships and transactions have been appropriately accounted for and disclosed as applicable in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of charity law or accounting standards.
Subsequent events
- All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed as applicable.
Going concern
- We believe that the charity’s financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity’s needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity’s ability to continue as a going concern need to be made in the financial statements.
Grants and donations
- All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
Trustee Remuneration & Benefits
- We confirm no trustees received any remuneration during the year and the details of reimbursed expenses included in note 9 to the financial statements are complete.
Yours faithfully
Kerry Weir Kerry Weir (Mar 31, 2023 06:08 GMT+1) ..............................................................................................................................
Signed on behalf of the board of trustees
Date Mar 31, 2023
Wokingham Methodist Church Financial Statements 31.08.22
Final Audit Report
2023-03-31
Created: 2023-03-30 By: Team BWBCA (admin@bwbca.com) Status: Signed Transaction ID: CBJCHBCAABAAsHtw_Iayc6Tlnp3ScAVioorxLDLIXZ5W
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