NOTTING HILL METHODIST CHURCH REGISTERED CHARITY NllblBER 1127356 J*2. REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
NorriNG HILL METHODIST CHURCH Trustees Sonla Barne$ Wendy Chase Stephen Duckworth (Deceased) Revd. Paul Wood Pauline Mulllngs Esther Samuels Gl8dwyn Samuels Elaine Spence Secretsry Wendy Chase Company number 1127356 Reglstered Offlce 240 LaF*aSter Road London WII 4AH Audltors Banks & Co. Ltd. I Camegle knad Newbury Berkshlre RG14 SDJ Colman Coyle LLP 80 Upper Straet London Nl ONU Bankers CAF Bank Ltd 25 Klngs Hlll Avenue Kings Hlll, Kent ME19 4JQ Central Flnance Board of the Methodist Churth 9 Bonhlll Street London EC2A 4PE Chartereé Surveyor5 Colllers Intematlonol 50 Georye Street London WIU 7
NOING HILL METHODIST CHURCH TrUSTEEV ANNUAL REPORT POR THE YEAR INDED 31 AuGiisf 2024 The TnJ51ees present thelr port with the tlnand81 statements of the chadty for the year ended 31 August 2024. The Trusteeg have adopted the provlsl¢ns of Accounting and Reportlng by Charlues: Statement ol Rewmmended Prattice applicAble to charfti95 prepedng their accounts In accordan wlth the Flnandal Reporting Stsndard app15obl¢ In the UK and R¥ublic of Ireland (FRS 102) (EffeLtlve l January 2019) Alms and organlsation The calling of the Meth¢xlist Church Is to respond to the gospel of God's love In Christ and to Ilve out Its disdpleshlp In worshlp and misslon. Notking Hlll Methodist Church prioritles provide for: a regularly worshlpplng eongregatlon, fellowshlp of people learnlng and growlng In Chrf5tian faith 3. sharfng its resources {Includlng the buildlngl wlth people in the ndghbouthood. 4. challenglng Injustlce antj meetlng human nd. S. $peaklng of God s love ts the wlder world. The year has seen the ¢hurch malntsln a steady state level of actjvltles and wa[P. Thè refurblshed basement crjrtlnues to host the Kenslngton and ¢J7elsea foodbank and we look forward to welcomlng bad( to 240 LaTUSter Road the 240 ProJX an arts based community support group. Bible studles resumed In the summer months but have not attalned thelr pre-pandemlc The church was able to enjoy its annual summer barbecue and seaslde excursloft for the flrst tlme slrt the pandemlc. The Church Eco-group continues to conder how we ml9ht become a greener church (bullthng and communlty). Last year wlth the help of e grant from the Royal Borough of Kenslngton and Cholsea, the thurch publlshed The Carlbbean Contrlbution storfes from Nottlng Plill MethtsJl3t Church., Indudlng mudj oral hjstory from church members cf the 1960s and 70s. we have now successfsjlly published thls on our website
NorrzNG HILL METHODIST CHURCH TrusteÈs Annual R•port {Contlnuod...) For the year ended 31 August 2024 Flnance Bas15 of accountspreparati¢ The finandal statements have been prepared under the Charities Act 2011 In accordance with the 2014 versl¢n of A¢untIng and Reportlng by Charltles- statement af Recommended Practice (SORP) applic4ble to chadtieg prepartng thelr accounts In accordance wlth FR5102- the Charities SORP (FR51021. Incomeand expendlture trends Ineome Is wlmirtly drawn from lett£ngs Income frorn extemal usars of the churth, and fmm lettings of Snvestment propertie5. This Is augmented by Sunday colle¢tlcn5 and glft ald tax rellef from mémbers of the Church. Totsl unrertcted Income amtsuntsd to £729,482 (2023 - £618,531). Expendlture Is prtmarily related to church bulldlngs and the church's Investment propertles Thé other major ongolng c05t 15 for staff and related expenditure, Includlng the annual asse55ment pay8bl& to the Nottlng Hlll Circuitj whlch meets the Minlsterfs stlpend and some other staff costs and Indudes repalrs to the manse. Costs contlnued t¢ arfse for the managing and malntenano of church bulldings and investment propertles. A grnnt of £120,QOO was made to the Denblgh Methodist Houslrwj Aqsocladon to enable it to continue to make housing avallable to those in need at Social houslng rent levels (2023 £ioo,ooo). Total unrestrlrted expendltJJre am¢)unted to £825,927 {2023 - £673,893) Fund balances The Church s ttet thrr•nt assets at the year-end amounted to £78,269 (2023 - £62,757). After seitJng aside restrlcted reseNes unrestricted funds of £61.407 maIn, InvestsnentPollcy Tre Investrnent of surplus funds Is operdted throuoh the Central FInan Board (ITr8) 01 the Methfxllst ChUh. CF8 alms to provlde a hlghq• Investrnert servl¢e seeklng abe average retums for long term Invtstors, whllst ensuring that the securfties held by èll its funL1s are In Ilne wlth the ethlcal poll¢y of the Methodlst Church. The Churth Currently ha5 Its funds In a deposit actount with CFB. Reswvespollcy and plans for 2024/25 The Church's reserves pollcy tskes account of Its n&t current assets at the last Balance Sheet date, thé budgt for thp ¢urrent year 2024125 and signlficant known items of property expenditure to be inturred in the near fiJture. The agreed reserves pollcy Is to retaln from the unrestrlcted resources avallable under the abov¢ ealculatlon the equlvjlent of thm months operating expendlture (appr0MatelY £137,000) to fund planned athvlttes should nomal revenue earning be suspended.
NOThING HILL METHODIST CHURCH Trustaes Annual Report (Contlnued...) For the year ended 31 August 2024 Stru¢tur* ¢ov•rnance aftd Management Legal framework NottTng Hlll Methodlst Church Ss the sole church In the Nottlng Hlll Meth<Kllst arculL The governlng dorJJmentforthe Churth Isthe Deed of Unlon (1932} and Methodlst Churth Act (19761. Detalled govemance arTangements are outlln¢d withln the Constitutional Practlce and Dlsclpline of the Methodist Churdi (CPD), by order of the annual MEthcdist Church Conferen. The purposes of the Methodlst Church are and shall be deemed ts have been sln¢È the Dats of Union the edv¥ncement of: The Chrfsuan falth In accordance wlth the doctrfnal stsndards and dlsdpllne of The Methodlst Church: Any charftsble purpose forthe tlme belng offany Connexlonal, Distrtrt, Clrcult, local or rther organisatyon of The Methodlst Church: Any chatable purpose forthe time belng of any soclety or instltutlon subsldlèry or anclllary to The Methodist Church. Any purpose for the tlme belng of any ¢harfty fjelng ? charfty subsldlary or andllary to The Methtsdtst Church Reference and admlnlstratlve detalls Name of charity: Nothng Hlll Meth¢di5t Churn Charlty reglstratlon number.. 1127356 Date of r¢gTstration: 31 December 2008 A Ilst of 5enlor lay employees Is bdow.. Ken Asledv - Faciliues Manager Management Day to day management of the churth Is undertaken by the Church Leadership team along wlth the Mlnlster. Supwtntendent Mlnlstar: Revd Paul Wood Senlor Church Stewar¢'. Mrs. Esther Samuals Treasurer: Mrs. Elalne Spence acted as the prInCip Officer overn9 th• day to day finanaal management and a¢ctsuntlng for the Churth durlng the year. Govamanc8 The members of the Notting H411 Methodlst Church Couhcll are the Charlty Trvstees, membership being made up of Q)urch and Clrcult office holders, the Mlnlster and up to elght representatlves appolntsd by the Church at Its Annual Churth meeng. A range of guldance produced by the Methodlst Connexlon to supportthe effectTve runnlng
NOThING HILL NETHODIST CHURCH Trustees Annual Report (Contlnuad...) Fcr the year ended 31 August 2024 of the Church and the rol¢ of Trustee5 Is glven to the Church Trustees at varlous meetlngs and trainiftg sesslong held thr¢ughout the year. Public benefft The trustees have due regard to the public benefit guldance publlshad by the Chartty Commlssion in compllance with Its dJJt5e5 under sectoon 4 of the Charltles Art 2011. Thls guldance sets out two key Frinoples: Thè organlsatfion must have an idertofloble benefiL The benefit must be to the publlc or a sectlon ol the publlc. The Ctturch exlsrs to.. Increase awareness of God's presence and to lebrate God's love; hdp people to leam and grow as Christions, through mutual sUPPOrt and care. and be a good neighbourto people In need and challenge injust1. The trustee5 conslder that for these reason5 the tharity meÉts these publlc benefit requlrements. Relat partlo5 The Church 15 the sole thurch In the Nottlng Hlll Circuit, whlch Is part of the London Dlstrict and also accountsble to the methodist Conferénce. The Church controls the rnember5hlp ol thÈ Denblgh Methodlst Housing Assoclation whith Is a tharitable houslng asSocIaOn reglstered under the Cooperatlve Commuftlty Benefit Societte5 Art 2014. Rlsk managemert The Tntsteès are responslble for Identifyirwj and mltygatlng the level of ridc faced by the charltyi taklng professional advlct as requlred. An annual Téview process Is undertaken, wlth documentstion of the strategy to be employed for rfsk mitigation. Major rfsks wlll contlnue to accwe from the condiuon of the propertles of the church and a qulnquennlal report by a quallflad surveyor was undertaken In 2020 to Inform the Church's plans for malrtenance of its propertles, most of whlth Is rsQW mlete. Safeguardlng The Methodlst Churth, along Mth the whole Chrfstlan communty, believes each person has a value and dignlty whlth comes dirtrtly from God's creation In God's own image and Ilkene55. Chrlstians see th1$ as fulfilled by God's re-¢reation of us ITh chrfst. Arnong other thlngs. thls Implles a duty to value all people as bearing the Image of God and therefore to proteL* them from harni. NottSng Hlll Methodist Church Is committed to the safeguardlng and protection of all hildren. young pÈople and adults and affirm5 that thÉ need5 of chlldren or of people when they are vulnerable and at rlsk are paramount. Nottlng Hill Methodlst Church reco9nises that It ha5 a partlcular care for all who are vulnerable whether as a result of disabllltles or reductlon In ¢apadtles or by thelr situatlon. It Is recognlsed that thls Sncreased vulnerablliLy may be tsmporary or permanent an¢J may be vlsible or Invlslbl& but that It does not dlmlnish our hurrtanlty and our wish to
NOThING HILL METHODIST CHURCH Trurtaes Annual Report (Contlnuod...) For the year ended 31 August 2024 affimi the gifts and graces of all God's people. The Church's polley addresse5 the safeguardlng of thlldren& young people ond vulnerable adults. It is Tntended to be a dynamlc pollLY. It intended to support the Church In belng Safe supportlv¢ ?nd cèrfng communlty for chlldrant yOLsng people, vulnerdblè adults, for survlvors of abuse, for communJtles and for those affe(ted by abuse. Chur¢h Coundl Members, Responslbllltles The members of Church Coun¢ll are responslble far preparfng the annual report and finand•l Statements in ?ccordan¢e with applicablo law and Unlted 5Qngdom Generally Accepted Accountlng Prartlce. Leglslatlon requires the Coundl membets to prepare fiaancial ststements for each finanaal year, whlth glve a true and falr vlew of the Church's state of affalrs at the end of the year, and the result ftir the year then ended. In preparlng these finanaal statements, the Coundl member5 are requlred to: 5elett suitsble accounting pollcies and then apply them on a con*st¢nt basls. make judgements ènd estimates that a pwdent and reasonable. state whether appllcable accountlng standards have been followeij, subjertto ary materfal departure dlsclosed and explalned In the finanoal gtstements prepare accounts on a golng concem basis unless it is not approprlats to PTesume that the thurch wlll continue in existence. The Coundl members are responslble for keepln9 proper accounwng records. whlch dlsclose wlth reasonable accuracy at any time the financlal posltion of thè Church. They are also FIOns[ble ftsr safeguardlng the 855ets of the Church and for taklng reasonable stsps for the preven0 and detsttlon or rtaud and Other lrwularfes. Reyd Paul Woc Svperintendent Mlnlster and Chalrof Trustees
NOThING HXLL MEfHODIST CHURCH Independent Audlt•r'$ Report to the Trustees of Nottlng Hill Methodlrt Churth Oplnlon We have audlted the flnanclal statements of Notbny Hill Methodist Church (the 'tharfty? forthe yearended 31 August 2024 whlch comprise a statement offinanclal attlvlty, balancè sheet and notes to the finandal ststements, Induding signlficant accourtTng pollcies. The financial reportlng framework that has been applled In thelr preparaOn Is applleable law and Unlted Klngdom Accountlng standards, Indudlng Finandal Reportlng Standèrd 102 The Finanual Reportlng Standard appllcable In the UK and Republlc of Irelantl (Unlted Klngdom Generally A£ptsd Accountlng Practlce}. In our oplnlon the finandal ststements.. give a true and fair vlew of the state of the chartty's affairs as at 31 August 2024, and of Its incomlng wource5 and appllcatlon of resources, Including Its Income and expenditure, ftr the year then ended, have been properfy prepared In accordar¢ce wlth Un5ted Kingdom Gewally Acoptsd Arcountlng Practice. and hBve been prepared In accordance wlth the requirnents of the Charttles Arl 2011. Basis for oplnlon We condutted our audlt In accardance wlth Internatlonal Stsndards on Auditing (UK) (tSAs (UK)) and applicable law. Our responslbllltles under those standards are fvrther de5¢rlbed in the audltor responsibllitles for the audlt of the financial statsments sectlon of our report. We are Independent of the charity In accordance wlth the eihlcal requirement5 that Ere relevant to our audlt of the fln#ndal ststements In the UK, Includlng the FRC'S Ethlcal Standard, and bye have fulftlled our other ethical responslbllltles In accordan wlth thesa requIrneDts. We believe that the audit evldence we h8ve obtalned Is suffldent and appropriate to provide a basls ftsr our oplnlon. Concluslon relatlng to golng concern In audltlng the Tinanaal statsmerts. we have concluded that the tru5tees' use of the sging concern b8sls of acctsuntiNJ in the PreparaOn of the finandal ststement5 Is appropriate. Based on the work we have performed, we have not léentlfied any matertal uncertalntl relaung to events or conditions that, indivldually or collectively. may casi slgnSficant doubt on the chariivs abllity to contlnue as a golng concern for a peréod of at least twelve months frtsm when the financlal ststements are authorf5ed ft)r Isyje. Our responslbllltses and the responsibllltles of the truste¢s wlth respect to golng concern ra des¢Mbed in the relevant sections ¢)f this report. Other Infornbatlo The other Infr)m)atlon compr]ses the Informatlon induded In the trustees. annual report, other than the flnandal ststements and our auditorfs report thereon, The trustees are responslble for the s)ther Inforynatlon contalned wlthin the annual report. Our opinion on the flnandal atements dces not cover the other Informatlon and. except to the extent otherwlse explicitly statsd In our rEporL we do not expre55 #rty fam of a55urance concluslon theon.
NOTfiNG HILL METHODIST CHURCH Indep•ndant Auditorfs Report ts the TNste•s of Nvtting Hlll Methodlst Church Our responslbllity Is to read the other Infornation and, in dolng so, eonsld¥ whether the other Infomiatlon Is materfally in¢on51stent wtth the finanoal statements or our knowledge obtained in the eourse of tle audSt or otherwise appears to be matertally m15Statse. If we identlfy such rnaterfal Inconslstencles or apparent m?terlal mrsstatements, we are requlred to detérmlne whether thls glves rlse to a matsrlal mlsststement In the ffnanclal statsments themselves. If. based on thè work we have perfomed, we conclude that the Is a materlal mlsststement of thls other Inforniatlon, we are reoulred to report that fatt. We have nothing to report In thls regani. Mattor4 on vknlch we am requtred tt> r•port by exceptlon We have nothlfig to report in respett of the followlng matters In relatlon to whith the Charitles (Accounts and Reports) Re9ulatlons 2008 require us to report t¢ you if, In our oplnlon: the Informatlon glven In the ftnanclal sktemants 15 Ineonslstert In any matsrfal respect with the tsust* report; or the charity has not kept adequate accountlng ftcord5; or the finandal statements are not In agre¢ment wlth the accounttng records and retums. or we have not recetved all the Informatyon and explartaljons we requlre for our audtL R•sponslbllltias of trustoes As 8xplalned more fvlly In the trustees. responslbllltFes statement srt out on paue 6, the trustses are responslble for the preparatlon of the flnandal statements and for belng satlsfied that they glve a true and fair view, and for su¢h Int¥rnal ¢ontToI as thè trustees detsrmlne is neSary to enable the preparauon of fSnanclal statements that are free frorn materfal mlssydtementy whether due to fraud or error. In pparing the finaftclal Statements, the trustees are responSIb asse5$1ng the thadty's ablllty to continue as a going concern, dlsdoslng, as appllcable, matters related to golng concem and using the going Cpneern basls of accounting unless thè trustees elther Intsnd to Ilquldate the charfty or to cease operatlons, or have no reallstlc altsmatfve but to do so. Audltor reSp¢MlbUlI1QS for the audlt of th• flnanilal statements We have been appolnted as auclltor under settion 144 of the Charlttes Act 2011 and report In 8ccordance wlth gulatIOnS made under sectlon 154 of that ACL Our obJethve5 ère obtsin reasonable assuran about whether the flnandal Statefflts as a whole are free from materfal mlsstatemenL whether due to ftFud or error, and to Issue an audltoffs report that Indudes our opinlon. Reasonable assurance 15 a hlgh level of assurdnce, but Is not a guarnntee that an audlt conducted In accor(Jance wlth 15As (UK) wlll always detect a rnaterial mlsstatement when It exists. Misstatements can arlse from fraud or error and are consldered material if, Indlvldually or In the a99regate, they ¢ould reasonably be expected to Influence the economlc declsiDns tsf users takw on the basls of these flnanoal statements.
NoING HILL METHODIST CIIURCH dePdent Audltorfs Report to tha Trustees of Nottlng Hlll Mothodlst Church Irregularides, Induding fraud, are instsnces of n0n-compl1èn wlth law5 and gulationS. We deslgn procedures In Ilne wlth our re5ponslblllties, outllned èbovÈ, to detert materfal mlsstatoments In re5pert of 1rregularfes, Includlng fraud. The extent to which our procedures are capable of detectlng Ikregularities, Induding fraud Is detsilgj below: Enqulry of Trustees and those charged wlth govemance around actyal and potsntlal ligatIoN daims; Enqulry of Trustees In compllanttfunrtions to Identlfy any Instances of non- compllance wlth laws and regulatlon5' Revlewlng flnandal statements dlsclosure and teGtln9 to supportlng documentation to assess Compalan vlith applicable laws and regulatlon5' Perforniino audlt work over the sk of managem•nt overrfde of controls, Includlng te5tlng of joumal entrfes and other adJu5tynents for appropriatene55, evaluatlng the rationale of slgnfficant transactlons outslde the nornal course of buslness and reviewlng accountlng estlmates for blas. Ècause of the Inherent Ilmltations of an audlt, there Is a rfsk that we wlll not detect all irregulartyes, Induding those leadlng to a materE?I mlsstatement In the finandal stètsments or non-eompllanca wlth rggulation. Thls risk Increases the more that compljance wlth a law tsr rogulation ts MOVed from the events and transactlons reflected In the flnandal statements, as we wlll be less likely to be¢ome aware of Instances of non- comptlan. The rlsk Is also greater r¢gardlng irregularitles ¢Jc¢urrlng due to fraud rather than error, asfraud Involves IntenOnal concealment, forgery, collu51on, omisslon or ml$representsUon. As part of an audit In accordance with ISAS (UK), we Èxerdse profossional judgment and maintain pn)fessional sceptlcism throughout the audlt. We also: Identlfy and assess the rfsks of materlal misstatement of the flnandal stements. whether dueto fraud or err¢r, design and perfomi audit procedures responslve to those rlsks, and obtain audlt evidence that Is sufflcient and appropriate to provlde a basls for our oplnlon. The Msk of not detecting a material mlsstatement resulting frorn fraud Is hlgher than for one resultlng fmm error, as fraud may inv¢lvo collusion, forgery Intentlonal omlsslon5, mlsrepresentatlons, or the oveThlde of Internal control. Obtaln an understsntllng of Intemal control relevant to the audit In orderto deslgn audlt procedures that are approprlats In the clrcumstanos, but not ror the purpose or expresslng an ¢pinlon on the effectiveness of the ¢harfty'S Intemal cortrol. Evaluate the appropriateness of accoundng pollcte5 used and the reasonableness of accounting es16mate5 and related disclosure5 made by the tNstees. Condude on the appropriatrness of the trustee5' use of the golng concern basis of accounting and, based on the audlt eviden obtalned, whether a materS81 uncertalnty exlsts related to events or condlttgns that may cast signlficant doubt on the charitys abllity to contjnue as a golng Con. tt we conclude that a material uncertainty exlsts. we are requlred to draw attentlon In our auditorfs report to th4 related dlsc5osures In the ftnanclal Statements or, If such dlsclosures are Inadeqtsata, to modlfy our oplnion, Our concluslons are b05ed on thé èuditevldenee obtslned up to the date of our audltor's report. However, future events orconditions may cause the chartty to cease to ¢ontlnue as a gelng concem. Evaluats the overdll presentauon, structure and content of the finandal Statements, Indudlng the diS¢losu. and whether the financlal statements represent the ncserlylng transacttons and tnts in 4 mann*r that achleves falr presentauon {1. glves a true and tslr view). We communlcate with those tharyed with govemance regardlng. among other matter5, the planned scope and rnIng of the audit and significant audit findlngs, IndudirrfJ any slgnijlcant deffdencle5 in internal ¢ontrol that we identify dudn9 our audit.
NOTfING HILL METHODIST CHURCH Independent AudltoV$ Report to the Trustw of Nf)tting Hlll Methodlst Church Use of our report This report Is made solely to the thartty's trusteos, as a bodyi In accordance with Part 4 of the Charttles (Accounts and Reports) Regulatlons 2008. Our audlt work has been undertaken so that we might state to the charity's trustees those matters we ère requId to state to them an auditor's report and fclr other purpose. To the fullest extent pemitted by law, we do not èceept or assume responslbllitr to anyone other than the chartty 2nd the chadty's trustees a5 a bodyi for our audlt work, for this report. or for the opinions we have formed. Banks & Co Lfmlted. Ststutory Auditor Chartered Certifled Ac¢ountants I Camegle Road Newbury Berkshire RG14 5DJ 2025 Banks & Co Llmlted is ellglble for appolntment as ¢uditor of the d)arfty by vlrtue of Its ellglbillty for èppolntment as audltDr of a company under 5ectEon 1212 of the Companles Att 2006.
NoING HILL METHODIST CHURCH statement of Financlal Act•vltles for the Yéar ended 31 August 2024 Not•$ General Fund IUnie6trktedl Dttlgnated Restrfrted Funds Totsl In¢omo Offerings Donations Gfft aid Interest and Inv8Stmenl income Inwmg fri>m inv8stment properties DhlHA rental income her charltablg incoffle 8.513 2,570 1,600 3,819 8,513 2,570 3,819 328.500 158,346 228.134 328,500 158,346 226,184 Tot41 In¢ome Expwdlluro ClicU a85essment or sh8re Grants and donthns Property mairtlenanc8 Insurance, uiilTbes ela Dewodation Ministy exptsnse3 Oiher expendlturo 75.533 144,100 312.888 .176 49.170 72,173 116,887 75, 148,532 312,888 55,176 49,170 72.173 116,887 213 4.219 Totsl ¢harltable expendlture 213 Mol Income l (èxpendllurn) 196,445) 1213) 14.2191 {10),8771 Transfers betran funds Net movemnt In fu (97.9451 (2131 {2.719? 1100.87n Total funds bmLyJhl forward 15,959 367 Total hjnds Cled IcThvard 15.835,138 6.490 16.862 15,858,490 For dat18 of tsJmparatN8 Iaure$ refer to nots 18 12
NOrnNG HILL METHODIST CHURCH Balance Sh¢et as at 31 August 2024 Noltt fjMer41 D¢¥l4rMted R¢strkE Tatd 20Z4 Total 2023 ds Fuk edlssetS Church bUIrn%dother property Investrntht proyrtks SAOZ440 10,545,CWJ 5302.440 5A51AIO S.CQO iOySmD T¢Jlal fv¢d¢ssets Debtorn and pyepayrnents Ceniral HnayKe goard D¢p95it9 Cash at 8ankarn4 In hand TotalwtyentayEt$ 52.481 73.SiKI 33,882 149 52,481 41,8a9 35¥797 50,178 449CI 16,862 47.234 6fv90 16 862 174215 Credltors (due In under IvrI Amounts duetollfroml Nottl li 19J07 19.907 106.097 41.886 33.153 49,432 25,$28 18W7 Amouhtoueto DMHA Total Hablll*s 33.153 Plet curr4ntassetsMabllttl•s 17 10.862 fi2.757 Total a$8•ts loss£urrotst ISJfr2 16161 15P25,709 15 59367 tomrnerctaltEnonts deFQ5Tts Totsl NetAssets fi7219 15035.138 67.U9 14862 15A49J ISJ59,367 Funds ofth¢ qwr¢h General Fund IUfirestrf¢tedl De5T8nated Funds Iunrestrlctedl T4t•l tlnrestrl¢t•d Funds Re5¢rraed Funds 15,&35.138 15,835.138 15933,083 16,862 16,862 81 Total Funds 17 15.835,138 6,490 14862 JS $54490 The flnandal Statements were approved and authorised for Issu¢. Chalr Slgned ts1.3.202S Treasurer Date:
NOrnNG HILL METHODIsf CHURCH Cash flow statement for the year ended 31 August 2024 Notss 2014 2023 Statsmènt of tah flows Cash from oy•ratlng actlvltles Net cash used In Qr¥ting aCtsitIeS (571,906) (533,655) ¢••h Ilows from Investlng •ctlvltl Dfvtdends, Int•rest and rents frorn Investrn¢nts 490,665 497089 Net eash provlded by In¥4siing aciivltks 49065 497,089 LlJDnge ITr $h cash eoul¥•l¢nt# In the reportlft P•rfxI C#sh ond ¢35h equNalÉnts at the beginnlno of the reportin9 porlod (81.2411 (36,566) 201,975 238,S41 Cash and $h ¢qulvalents at the énd of th• Yaportlno pqrlod 120,734 101,975 Notes t¢ c4sh flow statement fDrthe year ended 31 August ZQ24 2024 2023 Reeonclllatloo of net Income to cash flow from operatlng •dlvl¥•s Net In¢omÉ forthe reportlng pedod (as per st)tement of financlal a¢tlvlties) Adjustments fon DepclOon and amorttsatyon ¢harg¢s DNldends. Intere¥t and rents frorn snvests7)ents IlThcrease)/decrease In debtS InuEas(d•créas¢) IA credlto {10¢,8771 {42,763) 49,170 <490,665) {10,642) {18,892) 49,170 {497,089) 21,104 (64,077) t4•t cash us•d In op¢r•llng artlvltlaB (571,906) {533.655} 2024 2023 Nrt• (b): Anal1$ of tash and cub eqwlvalert Cosh In hand Short temi depts5 (* than 3 mi)nthsl 47,234 73,500 50,178 151,797 Totsl cash and ush equlvalents 120,734 201.975 14
NOTfING HILL METHODisf CHURCH Note$ to the financlal statements For the year ended 31 August 2024 l. A¢countirtg polld¢s Basls for preparfng tho flnarbclal statements These Ilnandal statsments have been prepared under the h15torfcal cost conventton wlth Itgns recognised 4t tost or transattlon value Unl otherwlse stated In the relevant eccounttng pollcles below or In the notes to the flnana?I statements. They have also been prepared In compllance wlth FRS J02, 'The Hnanclal Reportlftg Standard appllcable In the UK and the Republlc of Ireland,, the Statement of Recommended prarti¢e appllcable to charttles preparfng thelr accounts wlth the nancIal Reportlng Standard 8pplicable to the UK and the Republlcof Ireland (FR5102) (Charfties SORP (FPS102}) and the CharWes Art 2011. The Truste85 conskler that ther8 are no Material uncertalnties about the enws ablllty to ntinue as a going concem other than those noted below. There were no slgnlfieènt areas of adjustment or key assumptions that effect Item5 In the accounts. Wlth respert to the next reporting perlod, the most signlflcant areas of uncertsinty are the letting of the commerdal propertles and collettlon of thelr rents, and an unsettled dalm for addlonal costs whlch the ChLtrch dSsputes on a major work5 contract completed dufrng the year, Fund$ b) The funds held n$thi.. general funds held f¢r any purpose of the Church whlch are unrestrlrted; deslgnated funds which are also unrestrfcted but which are set aslde for parucular areas of future expendItU as detided by the trustees; and regtrtrted hJnds whlch are subject to restrtcuons imposed by th¢ donor and can only be used for speufic purpose& InmIng resourc Incomlng resources are induded In the Ststement of Finan¢lal Attivltles (SOFA) w*en the Church becomes entitled to that Income, and the trustees are reasonably certaln they will re1Ve the resources, and the amount can be quanfied wlth reasonable accuracy. d) Re8our¢es ry8nded Expendthre Is recogn%sed on an accruals basi5 when a Ilabllsty ts Incurred or a ¢onStruve obllgation arlses that results In the payment belng unavoldahle. Uabllltles are recognlsed as sooft as an outfiow of ecorK)mlc benefit Is consldered more likely than ftot under the legal or construttlve obligatlon commttung the Church to pay out resources. Gr•nt¥ Grants made by the Church from Its own ndS are reco9nlsed In fijll at the tlme of agreement or when the Ctturch aceepts that there Is a legal or operdtlonal oblKgafj on to m4ke the payment, When the grantls recurrent ¢ver more than one year the balan payable In future 15
NOThING HILL METHODIST CHURCH Notes to the flnan¢lal statements (Contlnued ... For tho year anded 31 Augurt 2024 years is treated as a provlslon ftr future commltments In the 8alance Sheet agalnst the appropraate fund, the provlslort being released In future years as Instalments are pald In accordance wlth the orfglnally agreed terms. Taxatlon Notknng Hlll Method1 Church Is recogn15ed as exempt fmm income and Corporatlon tsx on income deriveo from Its thadtable artlvities beeause of Its eharitable strtus. Slnce the Chur¢h Is not VAT ragisterd, all Input VAT borne Is charged wlth the expenses to whlch It refers. g) Debtors and credlto Debtors and crartars with no stat& Interest rate and receivabla or pay?bl¢ thin one yeèr are recorded at tranrt10rfj prfce. Any losses arfslng on impalrment are r8cognised In expendlture h) Tanqlble fixed The Land & Bulldings disdosed In the 8ccounts are leg4lly owned by The Trustees for MethTrJls1 Church Pvrposes In Its capacity as tNStee or custodlan Trustse. Tho Church premlses at Lar¢caster Road and Ethellne Holder Hall and the pavlllon et Kelfield G¥rdens have from the 2016117 a¢counUn9 year beén valuod based on their Insuran valuatton Sn 2017 with the intention that thls be the deemed value under FAS 102, The building element of this fordepreclation purposes Is deemed to be 400/0 of the full valuei given the hlgh land costs In Kenslngton and Chelsea. i) Investment propertles Jnve51Ynent propertles are measured at falr value at eath reportlng date wlth changes in falr value recogni56J In"Net galns/(Losses) on Investments"in the SOFA. Commercial properties have been assessed based on a valuatloft In December 2023 by PLW Morgan FRICS MCIArt> based on tal ylelds of 7.501ts ?S they are held In perpetulty. Residential rentsl propertlos are valued based on vacant possession values reduced by one thlrd tt* reflortthelr tenanted ststLLq. J) Deprwlotlon It Is the Churth's pollcy tts capltalise Sts non-bulldln9 ftxèd assets, Includlno vehldes, furnlture and equlpment assets. with costs over É5.000 and to charge depreclatlon on these. All bullding fixed assets are capltsllsed wlth Only the bulldlng element depreclated. Depreclatlon Is ch?rye(l as follows on bulldlng and non-builOing fixed assets.. Bulldlngs (other than Investment propertles) Organ FLFmiture, equipment and vehkles Computers and rr equipment over 50 years Over 10 YrS over 4 years Over 3 years 16
NOThXNG HILL METHODrsr CHURCH Notests the flnand81 stst¢ments (Contlnu•d ... For tha yaar ended 31 Awjust 2024 k) Impalrnient Assets not measured at farr value are rev5ewed for any Indlcatlon of Impalrment at each balance sheet date. If such IndlcatTon exlsts, the recoverable amount of the asset Is estlmated and compared to the carrylng amount. Where the carrylng amount exedS Its recoverable amount, an impalrment loss Is recognls8d In Income and expendlture. i) Golng Concern .The flnancial statements have béen prepared on a golng conr basls as the trustees belleve that no material un¢ertalntles exlst. The trustees have con51dered the level of funds held ènd the experted level of Income and expenditure for 12 months from authortslng thesÈ fln8n¢ial statements. The budgeted Income and expéndlture Is suffiuent wlth the level of reserves for the charlty to be able to contlnue as a golng concern. I Income from Investment Pr¢pertle The income from lettings of £328,51 (2023- £355,142) comes from the lettlng of five retsil premlses. 3. Income fvom DMHA rantall The Church and Clrcult lease thelr resldential propertles to Denblgh Methodlst Hougng Assodation (DMHA) to manage, wSth the expectstlon that for most of the propertles soc5al hou51ng nt levels wlll be charged. The Church and Grcult a roqulred to charge a market rental underthe 7-year lease to DMHA. The rentrl Is based on the m?rketrents of the propertles establlshed In 2018. less an allowance for all the Costs of management and maintenance other than major works, adjusted for subsequent Infk3tlon. 4. Oth•r Ch?rltabh Incom• Thls Incomè of £226,134 (2023 - £103,328) cornes prkncipally from the lettlng of Spa In thurch propertl&s and from the dllapidation settlement for 241 Westboume Grove (Medlcal Centre}. . CIrlt assessment or The charge of £75,533 (2023 - £83,532) Is bome by the Churth for mlnlsty ènd manse experw. 6. Grants •nd donations The grnnts and (h)nitlon$ made from unrestrftted fijnds went tc charities under the followJn9 hdIng$. 2014 2023 DMHA forchar8ln8 soclal houslrg rents Local organisations Methodlst Churches and or8antsatlons erseas Grants Total Expenditure 20XQO ii.lc 17.000 140AO& 17
NorriNG HILL METHODIST CHURCH Notes to the flnanelal statements (céntlmd ... For tho ended 31 August 2024 The grant to Denblgh Methodlst Houslng Assoclatyon (DMHA) Is to Isslst the assoaatlon to conts.nue to charge soclal houslng rents rather than market rents to most of Its tenants, 7. prOrtY malntenan¢• Followlng the qulnquennlal survey undertaken In 2020 slgnlflcant works are taklng place over all the Church's properties. ExpendItU on TnaJor wor5 was £192,218 (2023 - £85.794) 8. Salarl•s, NIC and P¥n#lon ¢osts Mlnistry expenses and Other expendlture Include relevant stsff ernOYmefit costs. The Church Qperètes a payroll and recharyes the relevant costs to thè Notting Hlll Methodlst Clrojtt and Denblgh Methodlst Houslng Assoiation. The average number of staff employed by the Church drtng the year were 2.6 (fvll time equlvalents) (2023 2.6) The ChuKh provides and admlnisters a money purchase pension arrangement for all 5tsff wlth TF[ Redrnent Stlutions. Durfng the year trtal employer's and employEes' penslon conth'butl(>ns before re¢har¥Je totalled £12,839 (2023 - £13,518), No employee5 afft pald In excess of £60,000. 20Z4 2023 Gross Sts"pends, salarlesond benelits In klnd Employer's Natlonal Insuran¢e Employe¢5 pénslon costs 59.205 6.036 3,S52 68,793 $4.927 5?31 65.429 9. T•nglble Plx•d ASS•t• 9.1 Property tlxed •M•ts forth• Churth'• own u The church In Lancaster Road was bullt In the latr 19th Century and has been In ¢onYnuou$ use by the Metho(Jists slnts then, In 1994 work on a major refurbishment scheme Included redudng the slze of the church interlor and creating andllary offlces. The works were completed In 1997 at a cost of £1,070,000. funded prtndpally from the sale of proed5 of the church in Denbigh Road. Etheline Holder Hall, a communlty hall bullt on a rntalned part of the Denblgh Road site, opened In 1992, at a cost of £215,000. These church properknes are Insured for £7,717.102. Kelfleld Garden Is a prfvate open space th wlth pavilion glfted to the Church In the e#rty 20 centLrry. The pavlllon Is inSUd for £320,000. 18
NorrING HILL MEfHODIST CHURCH Notes to the flnanclal ststernents (Contsnued . For the year ended 31 August 2024 9.2 Praperty tlx•d agwts for Invrnent The freehold and leasehold of the Denblgh Estate were acqulred by the Church In the 1890s. The estate is Insured for £7,838,362. The value of the five shops induded In the estate has been a5ses5ed based on a professloMI valuatlon In December 2023 LIng a rental Iield of 7.5Ya. and the values have been confirmed by tEcent lease settlements on the estate. Resldentlal properties have been valued by the Trustees an the basis of profegslonal 8dvlce and the TrustÉes re¥lew of the market based upon current market ylelds. 9.3 D•pr•clatlon Depredation Is charged on bulldtng and non-bulldlng fixed assets at the ratss shown LEnder Church Aceountlng Pollcles above. Churth loon- Investment lènd and buldiwl Otherln¢xi- lavestrnent land and bLdlthn Other ed Fixtures, tTttlwand equipmwrt lrtvestment propertles Ihnd aAd bulldlwl Includin8 nKJtor vehlcle5 Totsl Cost pr valuation &alance brou8ht fo¥ward Additlons Revaluations Disposa 5,567MO 98.000 91973 38,500 10545.QDJ 16,340A73 aalano ¢arrfed forward 5,567.ryx¢ 98.000 91.973 io 38,50D 5 ofm) 16340,473 Accumulated depr•£iation Balance brought forwafd Charge forth•year DL%posaL% 311.780 44.540 91.973 34,650 3,850 4,863 49,170 ance tarried forward 356,320 6.240 91973 38,500 493,033 N•t eook ¥41u¢ Brou8ht forward 5.255,220 9Z,540 10.545,000 15.896fi10 Carrted foTward S,210,680 gL760 10.545.000 15.847A40
NOThING HILL METHODIST CHURCH Nots$ to the flnanclal statements (Contlnued ... Fgrthe year ende(131 Augusi 2024 io. 2024 2023 Rent In arreors Other debtors and prepayments 1,325 51,156 5L481 20A62 21377 41,839 ii. Credltors 2D24 2023 RÈftt in Van other credltor5 and 3¢cruals .125 8,782 19,907 475 101,221 106.096 12. Fa¢$ for audltot thE a¢coutyts The audtttee forthe CLSrrent year Is èntldplted as £6,600 {2023- £5,OOQ) Restrlrted Funds Durlng 2023124 no restr1cted funds wer reCVE In dortatlolls to the Bènevolent AMO, the Youth PrnJect5 Fund ond to the Foodbank Fund. At the end ¢tt the year. the balan on rethcted fvnés were É16,862{see note 181. 14. Related prty traJssKtlons Durlr& the year five Tyustees were relmbursed 8 total 01 É1,728 {2023- E851 by th¢ Notttng Hlll Methodlst Church In rspert of expen IA¢uiTed In the day to day operabolls of the charlty. On• other TNsteè was rélmbursed a tatal of É5,949 (2023 - £3,640) by the rharfty behall ol both the Nrt#ng Frill Methodist Churth and Clrcult. One trystee had a relatsd Interest dng the year as a tenant 4f Denblgh Methodfst Hou51ng Assodatlon I1r4 In a Nottlng Hlll Methodlst Chutth property. One trustee took a l*Mrt of £l,IOD. 20
NorriNG HILL METHODIST CHURCH Notes to the financial statements (Contlnued ...) For the year ended 31 August 2024 15. Commltment und•r operatlng leases At 31 August 2024 the Church had annual commltments under non-cancellable operat7 leosesas fDIIJws; 2023 Explry date: 31 Dernber 2024 WthThoF¥a yar Between two and flve yeaws 490 1,180 490 16. Capit•4 MMItments and ¢onlln9•nt Ilabllltl•s 16.1 Capltsl commltmonts The Trustees have allocated £150,000 to be spent on refurblshment In the current year. Contracts have not been placed for the work, (2023 - £13,750). 16.2 ContlDgent IlablllLy There were no c¢ntlngent Ilabllities In ftnancial year 2023-24. 21
NOThING HILL MEfHODIST CHURCH Notes to the flnan£l•l stutements (C¢ntlnued ...) F¢r the year tndéd 31 August 2024 17. Mov4m•nts on M&trv•$ General Oestgnated R¢strStted Total Open1 balance as at I Septembér 2023 15,933,083 729,482 (825,927) 11,5001 6,703 19,581 15,959,367 729,482 14,219) {83U,359} 1,500 Incame 24pénsts Tr4nsfer5 1213) aoslftg balance as It 31 Aug[¢ 2024 15 83S 138 16 862 15 858 Openlnq balan¢e Uoslnq ba14nce Incorne Expenses Ttransfev Benevolent Furtd Food Bank Caribbean Herltsoe Transport Fd Trainr4 & Educatltsnal fund Youth 1rt5vlties & Projerts Fund clong balanc4 4 at 31 August 2024 527 2,782 1,272 6,1S6 547 15,OLIO 26,284 (1651 12.7821 IL,2721 (2131 1.500 1.862 5.943 547 15,000 23,352 14.433} 1,500 Prlor year General pwlgnat•d Restrlctd Operdng bala¢ as at I September 2022 Incorne 17.760,501 618,531 1673,8931 110,OS6) {1,762,OOD) S47 3.082 17.764,130 17.263 635,794 (4,664) (678,557) 3.900 Expens¢5 Transf*r5 Net yalns/{losseslon Investrnents fj,156 {1,762,000) a¢ng balonce as at 31 Augusi 2023 15,933,083 6,703 19,581 15,959,367
Nottts to the flnan¢i31 statements (Contlnued... Fot tho year end¢d 31 Augllst 2024 18. Ststem•nt of Flnan¢l•i Actlvllles (SOFA) fortha yeJrnded 31 Auyust 2023 General Pund (Unreslrlct•dJ Doslvnated Funds Total In¢om• Offerln95 Donattorns Glft ald Int•r5t and Inv•stn7ent Income Income frorn Investment kyopertles DMHA rent Incom• ¢)therchaMtsble Income 92fj 3,739 9,526 21,002 4.848 5,351 355.142 136.596 103,328 17,263 5.351 355,142 136,S96 103,328 Total Income 618,$31 17,263 635.794 Expemdlture arcult assessmert or shar* Grants •nd donatlons Property mntenan JftsuNnce, utSlldes et¢, Oepreclat(on Mlt)Istry expenses Other exp¢nditure 83,532 140,300 179.546 50,888 49,170 70,808 99,649 83.532 144,964 178,346 50.888 49.170 70,808 99,649 4.664 Total tharllable expendltyJr• 673,893 4,664 678,S57 Nèt Income / (•xp•ndltsre) (55,3621 12,599 (41763) (10.056) 6,156 3,900 Net galns/[105s¢5) on Investmerts {1,762.000) Net m¢)vemÈnt In fiJnds £1,827,418) 6,156 16.499 11,804.763) Toki funds brought forward 17,760.5tJL 547 3,082 17.764,130 Total fvnds carrfed foManl 15.933,083 6.703 19,581 15,959,367