Fatei Accruals AccountsChurch a ow 2019-2020
THE METHODIST CHURCH
TEMPLATE REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 Auqust 2020
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Registered Charity - Registration number (if applicable)
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Penrith Church
TRUSTEES’ ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2020
Leen—————————EeEeEeE——E————————=ee eee nee Introduction
The managing trustees have pleasure in presenting their report and the financial statements of the church for the year ended 31 August 2020.
Aims and organisation
Affirming our faith in God, Father, Son and Holy Spirit, our mission is to make Jesus known as Saviour and Lord by word and through meaningful worship, service and outreach, in and around Penrith and recognising our responsibility within the world and the world church
Review of the year
2019/20 has been a difficult year as a result of the Coronavirus pandemic and income has been significantly reduced resulting in the need to draw on financial reserves. However, during the year, we have continued to be a church which has at its heart a desire to "introduce other people to Jesus". We do this through our Core Values: Praise, Act, Belong and Grow, although the way in which we have been able to deliver these has been challeninging and different.
Income trends
Church income is primarlly drawn from the Sunday collections and Gift aid tax credit, donations and lettings and catering income paid by the congregation and external users of the building.
The letting income relates to the hire of the church, hall and rooms to various groups in the community.
During the year total income received was £260,197 (2019; £333,097}, all of the above income streams being affected by Coronavirus, some much more than others.
Expenditure trends
The major cost is in relation to the assessment paid to the Penrith Circuit. This amounts to 37.7% (2019: 33.9%) of our total cost. The Circuit assessment has increased by 1.8% from last year.
A significant amount of the Circuit assessment is used to pay the District assessment, stipends and related costs to Ministers.
The other expenditure includes salaries, utitlites, administration and general maintenance, Repairs have included replacing a water heater, an alarm in the disabled toilet, various plumbing repairs and electrical and gas inspections, work on the church front doors and steps and feasability studies for the Ullswater Hall and Sandgate Room.
Fund balances
As at 31 August 2020 the unrestricted net current assets of the Church were £234,592, giving twelve month's cover for expenditure, the designated net current assets are £2,522 for the Bridge and youth fund, Mission Academy, Chaplaincy, Kids Alive and library alterations, and the restricted net current assets were £50,588, which are for Eden Debt Centre, Jean Dawson outreach and youth work, and the Benevolent Fund.
Plans for 2020/21
These have been impacted by Coronavirus but Outreach and Mission continue to be increasingly important to us in the coming year. This will always be done ecumenically in relationship with other church denominations in the area. We also want to continue to grow spiritually and there will be an emphasis upon prayer and discipleship. Despite a continued reduction in income, many expenses will still be incurred as we maintain our buildings and property, and consequently means we have to draw on reserves in the coming year.
Penrith Church
Trustee’s Annual Report on Finance and Governance
Basis of preparation and legal framework
The Charity’s annual report and accounts for the year ended 31 August 2020 have been prepared in accordance with the Charities Act 2011 and the Charities Statement of Recommended Practice 2015 as applicable to the Financia! Reporting Standard 102(FRS102).
Full Name of Charity/Church: Penrith Methodist Church (also known as PMC)
Registration Charity Number: 1127359
Date of registration: 2 January 2009
Main communication address ( Church office ): Wordsworth Street, Penrith, Cumbria, CA11 7QY
The members of the Penrith Methodist Church meeting are the Charity Trustees, membership being made up of church office holders, Minister and representatives appointed by the church at the Annual General Meeting.
Full list of Church Council members (the trustees) and key lay employees are shown as Appendix A to this report.
Treasurer: Mrs. P Coop.
Independent examiner Mrs Karen A Rae, Armstrong Watson Audit Limited, Fairview House, Victoria Place, Carlisle, Cumbria, CA1 1HP
Investment Bankers Central Finance Board of the Methodist Church Trustees for Methodist Church Purposes Barclays Bank PLC CAF Bank Ltd.
Penrith Church
Alms and organisation
Charity objective is, in affirming our faith in God, Father, Son and Holy Spirit, to make Jesus known as Saviour and Lord by word and through meaningful worship, service and outreach, in and around Penrith and recognising our responsibility within the world and the world church.
The purposes of the Methodist Church are and shall be deemed to have
been since the Date of Union the advancement of:
- a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;
b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church;
c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;
- d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church
Worshiping God through prayer, song and other acts of worship.
The organisation and resourcing of regular public acts of worship open to members of the church and non members alike.
The teaching of Christianity through sermons, courses and small groups.
The resourcing of pastoral work including visiting the sick and bereaved.
Taking religious assemblies in local schools.
Promotion of Christianity through the staging of events and services.
Provision of chaplaincy services to local schools, care homes and other institutions as appropriate and when able.
Public Benefit
We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.
Structure, Governance and Management
The governing document for the church is the Deed of Union (1932) and Methodist Church Act (1976)
Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).
Day to day management of the church is undertaken by the Church Leadership team along with the Minister.
The Trustees are appointed at the AGM of the church.
Restricted funds are those received for specific projects and can only be used for such purposes. To date restricted funds have been used for the purchase and alteration of the Bridge Youth centre, the refurbishment of the hall and kitchen, the installation of a lift and for specific furnishings. Donations and grants held have been specifically received to fund the Eden Debt Centre and will be used to cover costs arising including employment of the centre manager and also to cover the salary for the children/youth worker. Endowment funds are invested with the Trustees for Methodist Church Purposes for use in accordance with bequests received.
Responsibilities of the Managing Trustees
Penrith Methodist Church is held on the Model Deed of the Methodist Church and therefore the custodian trustees of the church are the Trustees for Methodist Church Purposes. Under the Methodist Church Act 1976 the members of the Church Council serve as Managing Trustees and as such fulfil the obligations laid upon them by Charity law. This requires the managing trustees to prepare financial statements for each financial year that give a true and fair view of the financial state of affairs of the church including any surpluses and balances carried forward into a new financial year.
In preparing these financial statements the managing trustees are required to adopt appropriate accounting policies, as described in the Notes to the Accounts, and apply them consistently, observe the methods and principles in the Charities SORP, making judgements and estimates that are both prudent and reasonable. The managing trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the church will continue to operate.
The managing trustees are responsible for keeping proper accounting records that at any time disclose with reasonable accuracy the financial position of the church. Such records must enable them to ensure that the financial statements comply with the Charities Act 2011 and the Church (Accounts and Reports) Regulations 2008. The managing trustees are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiner
A resolution to appoint Armstrong Watson Audit Limited as Independent Examiner for the ensuing year will be proposed at the Church Council Meeting in accordance with the Charities Act 2011.
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Penrith Methodist Church
Wordsworth Street
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Penrith Cumbria
Approved by the managing trustees on ( 6 | G 2021 and signed on their behalf by: Rev. Tim Cooke Minister
Church No 09/09
Penrith Church
Statement of Financial Activities (SOFA) for the year ended 31 August 2020
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|Notes|to|Designated|
|the|General|Fund|Funds|Restricted|Endowment|
|accounts|(Unrestricted)|(unrestricted)|Funds|Funds|2019-20|
|£|£|£|£|&|
|income|
|1|Offerings|138,196|138,196|
|2|Donations|and|legacies|4|11,864|4,429|13,819|30,112|
|3.|Gift|aid|32,595|1,430|34,025|
|4|Interest|and|investment|income|5|1,420|31|13|1,464|
|5|Income|from|investments|0|
|6|Grants|2,476|1,577|16,134|19,187|
|7|Internal|organisations|7,894|514|8,408|
|8|Other charitable|income|6|27,405|1,400|28,805|
|9 Total income|221,850|7,406|30,928|13|260,197|
|Expenditure|
|10|Circuit assessment|or share|105,522|105,522|
|11|Grants|and|donations|6,895|6,895|
|12|Property|maintenance|17,983|1,671|19,654|
|13|Insurance,|utilities|etc|23,186|5,475|28,661|
|14|Depreciation|10|2,992|1,540|4,532|
|15|Salaries|9|12,099|20,560|15,148|47,807|
|16|Office|expenses|25,797|71|708|26,576|
|17|Other expenditure|28,846|6,108|34,954|
|18|Internal|organisations|4,592|664|5,256|
|19 Total|charitable expenditure|227,912|27,777|24,168|0|279,857|
|20|Gains/(!osses)|on|monetary investments|0|
|21|Gains/(losses)|on|investment|properties|0|
|21|Net income/(expenditure)|6,062|-20,371|6,760|13|-19,660|
|22 Transfers|between funds|-20,371|20,371|0|
|23 Other gains/(losses)|-65|~4|49|
|24|Net movement|in funds|-26,498|0|6,760|9|-19,729|
|25|Total funds brought forward|333,993|2,522|299,502|9,878|645,895|
|26 Total funds carried forward|307,495|2,522|306,262|9,887|626,166|
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Church No 09/09
Penrith Church
Statement of Financial Activities (SOFA) for the year ended 31 August 2019
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|---|---|---|---|---|---|---|---|---|
|Notes|to|Designated|
|the|General|Fund|Funds|Restricted|Endowment|
|accounts|(Unrestricted)|(unrestricted)|Funds|Funds|2018-19|
|£|£|£|£|£|
|Income|
|1|Offerings|147,686|147,686|
|2|Donations and|legacies|4|30,262|5,237|18,178|53,677|
|3.|‘Gift aid|34,852|4,092|35,944|
|4|Interest and|investment income|5|1,647|19|13|1,679|
|5|Income from|investments|0|
|6|Grants|30,120|30,120|
|7|Internal organisations|12,485|897|13,382|
|8|Other charitabie|income|6|48,426|2,183|50,609|
|9 Total income|275,358|7,420|50,306|13|333,097|
|Expenditure|
|10|Circuit assessment|or share|103,638|103,638|
|11|Grants and donations|15,567|15,567|
|12|Property maintenance|14,490|7,468|2,320|24,278|
|13|Insurance. utilities|ete|23,004|4,943|27,947|
|14|Depreciation|10|3,384|1,578|4,962|
|15|Salaries|9|11,774|10,119|34,330|56,223|
|16|Office expenses|31,286|134|735|32,155|
|17 Other expenditure|16,415|8,912|5,507|30,834|
|18|Internal|organisations|9,278|981|10,259|
|19|Total|charitable|expenditure|228,836|31,576|45,451|0|305,863|
|20|Gains/(losses)|on|monetary investments|0|
|21|Gains/(losses) on|investment|properties|0|
|21|Net income/(expenditure)|46,522|-24,156|4,855|13|27,234|
|22|Transfers|between|funds|-16,502|16,502|0|
|23|Other gains/(losses)|45|2|47|
|24 Net movement|in funds|30,065|-7,654|4,855|15|27,281|
|25 Total funds brought forward|303,928|10,176|294,647|9,863|618,614|
|26 Total funds carried forward|333,993|2,522|299,502|9,878|645,895|
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Penrith Church
Church No 09/09
Balance Sheet as at 31 August 2020
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General Fund | Designated Restricted | Endowment | Totals 2020 Totals 2019
Notes to the (Unrestricted) (Unrestricted)Funds Funds Funds
Accounts £ £ £ £ 3 £
Fixed Assets
Church building and other property 10 | [¢9,262] |e 255674) __ [329,464]
Investment properties _ ee al a 0
Investmenis i eS ee ee) 3,903
Total fixed assets [vasa] of 2asera] 109] _sza.ree] [20,267
Current Assets
Debtors and prepayments a ee eee
Loans by the Churches i i!) 0
es <) e 44,725
Central Finance Board Deposis |__| ___129,402 tavo} Sasa] —=«| 740.68
Gash at Bank and in hand a |
|___—Totaicurrentassets| ____‘|__236.888
CreditorsCurrent liabilities (due in under 1 year) = — 261 61 | —] 2,689. pa
Total currantiabiitios| =| [——S2.ge7|] 261]
Wet current assetsfiobitties|| 234sw2|____2,622 60,588 |__ 342,628
[Totalassets loss currontiiabiitios] ‘| __—sorass] 2,872] soszea] sar] 626,160
Long term liabilities :
due after more than one year) ==
Grants payable after 2018-19 || _ | |
loanstoihe Chueh | | Cd CT TCT CCT
[——nerassets|| sovase] 22a] 306.262] 9.8e7| _oze,tee [645,095
Funds of the Church
[General Fund (Unrestricted) | = 307,495— 333,993
2,522 2,622 _2,522
Total Unrestricted Funds 310,017 336,515
Restricted Funds | 306,262 306,262 299,502
Endowment Funds Total Funds [sor ass] 2522] 306,262] 9,887] 626,168] [645,008
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of
Recommended Praclice applicable to charilies preparing their accounls in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP (FRS 102))
and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
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Approved by the Church Council Meeting on |OU Jusnene: and signed on its behalf by:
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Signed Signda: |
Rev Tim Cooke Milner Patricia Coop
Superintendent Minister Church Treasurer
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Notes to the Accounts
|
|
Penrith Methodist Church
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1. Basis of accounting
The financlal statements have been prepared in accordance with Accounting and Reporting by Charitles: Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UX and Republic of Ireland (FRS102) (effective from
1 January 2015) - (Charitles SORP (FRS 102)) and the Financial Reporting Standard applicable In the UK and Republic of treland (FRS 102).
2. Funds
The funds held constitute: General Funds held for any purpose of the Church which are Unrestricted. Designated funds have been received and then
designated for use on specific projects. Restricted funds which are held for a narrower purpose including those for internal organisations. There are also
the following Endowment funds as listed. Details of each material fund are disctosed In note 15. Any funds may be represented by more than Just cash.
3. Accounting policies
Basis
These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year, on the
accruals basis to show a true and falr view of the Church”s financlal position and activitles.
Income
Income is included in the Statement of Financial Activities (SOFA) when the Church becomes entitled to the resources, and the trustees are reasonably
certain they will receive the resources; and the monetary value can be measured with sufficient rellabllity.
Expenditure
soonThis is recognised whena liability is incurred, ora constructive obligation arises, that results in the payment being unavoidable. Liabillties are recognised as
as an outflow of economic benefit !s considered more IIkely than not under the legal or constructive obligation committing the Circult to pay out
resources,
Grants
Grants made by the Church from its own funds are recognised in full at the time of agreement or when the Church accepts that there is a legal or
Operetlonal obligation to make the payment. When the grant Is recurrent aver more than one year the balance payable In future years is treated as a
provision for future commitments In the Balance Sheet against the appropriate fund, the provision being released In future years as instalments are paid in
accordance with the originally agreed terms,
VAT
Since the Church is nat VAT registered, all Input VAT is charged with the expensas to which It refers.
Tanglble fixed assets for use by the Church
These are capitallsed if they can be used for more than one year, and Individually cost at least £750.
The freehold property is shown at cost.
Oepreciation rates appiled to tangible fixed assets are:
Organ - straight line over 25 years
Church Equipment ~ straight line between 3 and 25 years
Heating System ~ straight line between 15 and 30 years
Bridge Equipment - stralght IIne between 3 and 15 years
Where freehold bulidings are maintained to such a standard that their estImated residual value |s not less than their cost, no depreciation Is charged.
investment Properties
Investment properties + no property Is currently deemed to not be held for the long term purposes of the charity.
Investments
Investments are valued in the balance sheet at market value at the year end. Investment Income Is included in the accounts when recelvable and any gains
or tosses on revaluation at the year end are shown in the SOFA.
Debtors and Prepayments
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepald net of any trade discounts due.
Creditors
Creditors are recognised when there Is an obligation at the Balance Sheet date asa result of a past event, It !s probable that a transfer of economic benefit
will be required In settlement, and the amount of the settlement can be estimated reliably,
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Cash at bank and in hand
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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 acquisition
or opening of the deposit or similar account.
Accounting Estimates
The preparation of these financlal statements requires Judgements, estimates and assumptions that affect the application of policles and reported amounts
of assets and llabllitles, Income and expenses, Judgements and estimates are continually evaluated and are based on historical experiences and other
factors, Including expectations of future events that are belleved to be reasonable under the circumstances,
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Pensions
- The charity contributes towards the individual personal pernsion schemes for employees, The annual contributions payable are charged to the Staternent of Financial Activities,
| 4. Donations | Unrestricted | Unrestricted | 7 Designated |
7 Designated |
. Restricted |
2020 Total |
2019 Total |
|
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | ||||
| Donations | 10,864 | 4,429 | 13,819 | 29,112 | 53,177 | |||
| Legacies | 1,000 | 1,000 | 500 | |||||
| Total | 11,864 | 4,429 | 13,819 | 30,112 | 53,677 | |||
| 5. Interest/Investment Inc | Unrestricted | Designated | Rentriitaitf ndowment |
2020 Total |
2019 Total |
|||
| £ | £ | f | £ | £ | ||||
| Central Finance Board | 1,017 | 1,017 | 989 | |||||
| Other | 403 | 44 | 447 | 690 | ||||
| Total | 1,420 | 1,464 | 1,679 | |||||
| In 2019 all incomewas unrestricted | with the | exception | of£13 | on an | Endowmentand | £19on | on an Eden | |
| Debt Centre account | ||||||||
| G. DURECHBicome | . Unrestricted |
. Designated |
. Restricted |
2020 Total |
2019 Total |
|||
| £ | £ | £ | £ | |||||
| Rental income | 1,400 | 1,400 | 2,183 | |||||
| Special events | ie) | 0 | 1,292 | |||||
| Lettings | 21,411 | 21,411 | 33,097 | |||||
| Cateringagency | 1,805 | 1,805 | 4,646 | |||||
| Photocopying income | 1,014 | 1,014 | 2,078 | |||||
| Equipment hire | 660 | 660 | 1,460 | |||||
| Fees -weddings, etc | 2,300 | 2,300 | 3,596 | |||||
| Magnet | 130 | 130 | 132 | |||||
| Sou! Survivor | 0 | 0 | 2,040 | |||||
| Youth forum/Youthcamp | 85 | 85 | 85 | |||||
| 27,405 | 1,400 | 28,805 | 50,609 |
In 2019 all income was Unrestricted with the exception of Rental income which was Designated
Included within Grants in the Statement of Financial Activities are monies received under the Government's Coronavirus Job Retention Scheme amounting to £4,687. This is considered to be Other Operating Income in the year.
7. Payment to Trustees
Payments made to trustees for additional services provided to the Church by agreement with the Church Council Meeting
Number of trustees who were paid expenses Nature of the expenses Payment of fees for PA system support
Total amount paid 8. Fees for examination or audit of the accounts Independent examiner's or auditors' fees for reporting on the accounts Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor
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This year Last year
£ 1,357
[dl
£ 1,357
£ 1,026
£ gl ma
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9. Pald employees
Staff Costs paid during the year were: Gross wages, salaries and benefits in kind
Employer’s National Insurance costs Apprenticeship allowance costs Pension costs Total staff costs
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£
44,200 51,321
£
1,343 1,934
Lal —
£
2,712
£
47,807
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Average number of staff employed during the year were:
No employee was remunerated over £60,000 in 2020 or 2019
JJ 11 11 11 JJ
Penrith Methodist Church
- Investments
The funds that support the various funds are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month. These are regarded as medium and long term investments.
TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and polity as determined by the Methodist Conference.
Analysis of investment movements
This year Prev year
Change in investment values
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||||||||
|---|---|---|---|---|---|---|
|£|£|
|7|
|Carrying|(market)|value|at beginning of year|48,628|48,568|
|Add:|additions|to|investments|at|cost|
|Net gain/{loss) on revaluation|a|a)|
|Carrying|(market)|value|at end|of year|48,573|48,628|
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12. Analysis of current assets
Debtors and prepayments Pre paid assessments Accrued income Other debtors Total debtors and prepayments All prepayments, accrued income and other debtors related to unrestricted funds. with the exception of £29 (2019; £27) related toa designated fund.
Analysis of cash at bank
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||||||
|---|---|---|---|---|
|Bank balance held in|Barclays Bank PLC|
|Bank balance held in CAF Bank Ltd|
|Bank balance held|by|Internal|Organisations|
|Cash|balances|held by|Internal|Organisations|
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Total Cash and Bank Cash at bank balances were as follows: unrestricted funds £23,669 (2019: £37,918), designated funds £1,284 (2019: £1,297) and restricted funds £42,963 (2019: £33,005). Central Finance Board accounts are unrestricted £129,402 (2019: £138,689), designated £1,470 (2019 : £1,470) and restricted £9,293 (2019 : £9,293),
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This year Last year
£ £
26,190 26.370
12,500 13,500
8,579 9,771
47,269 49,641
_
|g|
2.044
67,916 72,220
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13. Analysis of current liabilities and long term creditors
Other Creditors
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2.689 3.510
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Total Current Liabilities
Of the creditors £261 relate to designated funds (2019: £272) and £61 to restricted funds (2019: £10).
- Capital commitments and contingent liabilities
At the 31st August 2020 the Church has no capital commitments.
No Contingent liabilities were identified at 31st August 2020.
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45, Detailed analysis of Individual fund movements
Unrestricted Funds
fenertiund |jieOpaning | Expenditura cS acifRavaluation |ETO teClosing
aed
Gite memory __ ee
xa7o| 7.406] 27.777] zoamay 2.70
aesascmanl es oie
(i [aS] HNichotcon Se ea Se emey|escye! Tama) melee
ibrayateratons | sol =< S| Sd]CdSCSC~«SF
Toi] ssesis|_msase] asses] [sd]] =O
Restricted Funds
Opening Expenditure Transfers Revaluation Closing
Bridgepurchaseandrenovation |} 2an.saa] P2053)
[Bridgezat equipment og
Lift installation | azo} taa
a a) a a) Sa ieee iam
SandgateBenevolentrom fundchair a Se] ae Se ae] ee | TC
JEdenDebtcentre |See8.50]eea0.anaf ee2ageaf(a ee39,990)
Totals] 299,502] 30.9238] 2ates] | 306,262]
Endowment Funds
Balance gains/losses Balance
iStephenCherryBequestPenrith Property Fund Taga?-———2es —}TTC_} }}CC ses189
amesHerbertWatsonNichol LegacyBequest——— Batffra ESS SSS aS eae
Totsif__9878)__13]——«idt—SC«dSCSC~S~S~Y?SC‘C;CQCV7
Fund purposes
Unrestricted funds
General fund - the managing trustees act prudently in maintaining adequate general reservesto achleve our
objectives, by covering six months expenditure and sufficient to cover reasonable anticipated on galing
Maintenance costs
Varlous model trust funds and Gift In memory are bequests received over the years which are invested with the
Trustees for Methodist Church Purposes for use as required
Designated funds
Bridge and youth fund represents donations and legacy designated to support youth work run from The Bridge,
any excess expenditure being met from general funds
Penrith Mission Academy has been set up to fund outreach work in the community using youth support from
PMC >
Chaplaincy fund isa grant designated for School chaplalncy purposes and will fund such resources.
Kids Alive fund is donations designated to be used by Kids Alive to purchase future resources
H Nicholson lefta bequest to be used for alterations ta the library area
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Restricted funds
Bridge purchase fund represents numerous grants and donations to acquire and renovate the Bridge Youth Bridge equipment and new furniture funds represent grants and donations to equip and furnish the Gridge, The balance will reduce as these are depreciated.
Uft Installation fund represents grants recelved to install a lift in the church bullding In conjunction with provision of facilities for the disabled. The balance will reduce as this is depreciated, The new kitchen and Sandgate room chairs funds represent donations towards the cost of these items. The balance will reduce as Items are depreciated. Eden Debt centre represents grants and donations received to support the work of the debt centre Including the costs of employing a centre manager through PMC, Income will cover costs arising. Benevolent fund represents monies received for use for benevolent purposes J Dawson legacy recelved Is to be used for outreach and youth work as requested In accordance with the bequest
Endowment funds
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These are bequests recelved over the years which are Invested with the Trustees for Methodist Church
Purposes for use In accordance with the bequests recelved.
Reasons for transfor between funds
A transfer has heen made of £20,371 from General fund to cover the excess costs over income of the Bridge
tunning costs and support for the youth worker.
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Penrith Methodist church
16. Analysis of Net Assets (between restricted and unrestricted funds)
Tangible InvestOther fixed ments net assets assets Total £ £ £ £ Year to 31 August 2020 Unrestricted funds 69,258 38,686] 199,551| 307,495 RestrictedDesignated funds ee ee eeeee7) funds 255,674,| ~—+-50,588] 306,262 Endowment funds eS 7 ee YY) 324,932 48,573| 252,661
Year to 31 August 2019
Unrestricted funds 72,542 218,940] 329,527 DesignatedRestricted funds reee ee ee) funds 256,922} ——~—~*«|~—Ss 42,580] 299,502 Endowment funds a 329,464 47,923| 261,520
Appendix A CHURCH COUNCIL MEMBERSHIP (THE TRUSTEES) MINISTER(S) Rev T Cooke Rev D Milner CHURCH STEWARDS Mrs V Bowen Mrs P Coop Mrs S Hulme Mrs O Jenkins Mr K Jones Mr S McNichol Mr D Selby Mr C Swift Mr D Watson Mrs A Wicker Mr S Williamson CHURCH SAFEGUARDING CO-ORDINATOR Mrs A Birkett CHURCH REPRESENTATIVES (OTHER MEMBERS OF THE CHURCH COUNCIL) Mr D Agus Mr D Belford Rev G Belford Mrs T Caoke Mrs K Davidson Mr D Pollitt Mr K Scott Mr A Thorneley Mrs L Watson Mrs S$ Williams Mr A Wright Mr B Wright
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KEY LAY WORKERS
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Mr P Rose (ceased 30/4/20) Ms E Mitburn {commenced 1/9/19)
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Penrith Methodist Church
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DECLARATIONS
Treasurer
| confirm that these accrual based accounts for the year ended 31 August 2020 have been prepared from the records of the Church and that they include all funds undeytys control of the Church Council.
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Signature of Treasurer Y Date e/a
Name of Treasurer Mrs Patricia Coop
37 Macadam Way, Penrith, Cumbria, CA11 9HG
Presentation to the Church Council for approval.
to|| confirm the Churchthat the Council annual at itsreport meeting and the Churchthat the Council annual at itsreport meeting and Churchthat the Council annual at itsreport meeting andthat the Council annual at itsreport meeting and the Council annual at itsreport meeting and Council annual at itsreport meeting and annual at itsreport meeting and at itsreport meeting and itsreport meeting andreport meeting and meeting and and onaccountsaccounts for the year ended the year ended year ended ended 31 August 2020 were, 2020 were, were, presented Watt [UMg]
202)
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to|| confirm the Churchthat the Council annual at itsreport meeting and the Churchthat the Council annual at itsreport meeting and Churchthat the Council annual at itsreport meeting andthat the Council annual at itsreport meeting and the Council annual at itsreport meeting and Council annual at itsreport meeting and annual at itsreport meeting and at itsreport meeting and itsreport meeting andreport meeting and meeting and and onaccountsaccounts for the year ended the year ended year ended ended 31 August 2020 were, 2020 were, were, presented
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and were approved,
Signature of the Chair of the
meeting
Name of the Chair of the meeting Rev Tim Cooke
Date | 4 6 | Zor
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