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a
& Church
— Me. Accruals Accounts
A —Me 2021-2022
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## THE METHODIST CHURCH # REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2022 Registered Charity - Registration number (if applicable) **----- Start of picture text -----**
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Penrith Church TRUSTEES' ANNUAL REPORT ## FOR THE YEAR ENDED 31 AUGUST 2022 ## Introduction The managing trustees have pleasure in presenting their report and the financial statements of the church for the year ended 31 August 2022 ## 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 2021/22 has again been a difficult year as a result of the Coronavirus pandemic and some income has been significantly reduced, although some areas have recovered, 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 challenging and different. ## Income trends Church income is primarily drawn from the Sunday collections and Gift aid tax credit, donations and lettings 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 £232,194 (2021: £232,891), 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 25.1% (2021: 38.3%) of our total cost. The Circuit assessment has decreased by 34.9% from tast year, partly due to contributions received from Kirkoswald and Alston Moor circuit as Rev. David Milner now spends two thirds of his time in that circuit and also because the assessment has been reduced to reflect the rent contribution now paid to the circuit for the property occupied by the caretaker. 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 guttering replacement, electrical inspection remedial work, roofing repairs, Sandgate room refurbishment and heating repairs. ## Fund balances As at 31 August 2022 the unrestricted net current assets of the Church were £175,185, giving just under twelve month's cover for expenditure, the designated net current assets are £6,504 for the Youth fund, Mission Academy, Chaplaincy, Kids Alive and library alterations, and the restricted net current assets were £61,306, which are for Eden Debt Centre, Jean Dawson outreach and youth work, and the Benevolent Fund. ## Plans for 2022/23 We are still being 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. We started to see a reduction in membership and income after the vote on God in Love Unites Us. This has continued and continues to impact our finances. We are intending to agree a 5 year strategy early in 2023, taking into account our plans for mission and reducing income. ## 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 2022 have been prepared in accordance with the Charities Act 2011 and the Charities Statement of Recommended Practice 2019 as applicable to the Financial 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 Clements, Mr C Hulme, Mr S McNichol 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 ## Aims 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. ## Trustee Training A range of guidance produced by Methodist Connexion to support the effective running of the church and the role of Trustees is given to the Church Trustees at various meetings and/or training sessions . ## Related Parties The Church is part of the Penrith Circuit which is part of the Cumbria District and is also accountable to the Methodist Conference. The internal organisations linked to this church are Lunch club, Flower fund, Craft group and 4Fs. Penrith Church ## Risk Management The major risks have been identified and recorded by the Trustees with professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and Expenditure is being monitored in total and is compared with the approved annual budget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves. ## Safeguarding Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm. Methodist Connexional practice outlines commitment to the following principles: - the care and nurture of, and respectful pastoral ministry with, all children, young people and adults - the safeguarding and protection of all children, young people and adults when they are vulnerable - * the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse. - ¢ We will carefully select and train alt those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes. - ¢ We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and Jocal authority in any investigation. ° We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care. - e We will seek to challenge any abuse of power, especially by anyone in a position of trust. ¢ We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult. - ¢ In all these principles we will follow legislation, guidance and recognised good practice. The Penrith Church commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches. The Penrith Church commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable. ## Reserves Policy The Reserves Policy for the Church is to hold as Unrestriced funds a minimum sum equivalent to six months’ average expenditure and to cover reasonable anticipated maintenance costs. This should be sufficient to meet any unforeseen item of major expenditure on the church building and / or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full expenses including the assessment payable to the Circuit. The Designated funds are those received and designated for use on specific projects. To date designated funds are held to cover Penrith Mission Academy, the Chaplaincy fund, Kids Alive, library alterations, Youth and Community Outreach. Examiner a 7 A resolution to appoint Armstrong Watson Audit Limited as Independent Examiner for the ensuing year will “i be proposed at the Church Council Meeting in accordance with the Charities Act 2011. ss : 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 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 towards employment costs of the Missional Pioneer and Lay Pastor. 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 **----- Start of picture text -----**
Penrith Methodist Church Approved by the managing trustees on S | | S (2023
Wordsworth Street and signed on their behalf by:
Penrith
Cumbria “
Rev. Tim Cooke
Minister
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Penrith Methodist Church ## Notes to the Accounts 1. Basis of accounting The financial statements have been prepared in accordance with 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 (FRS102) {effective from 1 January 2019) — (Charities SORP (FRS 102)) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 disclosed in note 15. Any funds may be represented by more than just cash. ## 3. Accounting policies **----- Start of picture text -----**
||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |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 showa|true|and|fair view of the|Church"s|financial|position and|activities.| |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|reliability.| **----- End of picture text -----**
Expenditure This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit 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 operational obligation to make the payment. When the grant is recurrent over 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. ## Grants ## VAT Since the Church is not VAT registered, all input VAT is charged with the expenses to which it refers. ## Tangible fixed assets for use by the Church These are capitalised if they can be used for more than one year, and individually cost at least £1,000. **----- Start of picture text -----**
|||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Depreciation|rates|applied|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|-|straight line|between|3|and|15 years|Where|freehold|buildings| |are|maintained|to such|a|standard|that their estimated|residual value|is|not less than|their|cost,|no depreciation|is|charged.|Freehold|buildings|have now| |been|disposed|of.| **----- End of picture text -----**
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Investment Properties
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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 receivable and any gains or losses 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 prepaid net of any trade discounts due. ## Creditors Creditors are recognised when there is an obligation at the Balance Sheet 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. ## Cash at bank and in hand 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 financial statements requires judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, 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 believed to be reasonable under the circumstances. ## Pensions The charity contributes towards the individual personal pension schemes for employees. The annual contributions payable are charged to the Statement of Financial Activities. Church No 09/09 ## Penrith Church ## Statement of Financial Activities (SOFA) for the year ended 31 August 2022 |||Notes to|||Designated||||| |---|---|---|---|---|---|---|---|---|---| |||the|General|Fund|Funds|Restricted||Endowment|| |||accounts|(Unrestricted)||(unrestricted)|Funds||Funds|2021-22| ||||£||£|£||£|£| ||Income||||||||| ||1
Offerings||100,673||||||100,673| ||2
Donations and legacies|4||12,717|2,122|21,786|||36,625| ||3.
Gift aid
4
Interest and investment income|5||24,385
630||3,260
47|-|4|27,645
651| ||5
Income from investments||||||||0| ||6
Grants|||5,431||18,100|||23,531| ||7
Internal organisations|||10,160|||||10,160| ||8
Other charitable income|6||32,909|||||32,909| ||9 Total income||186,905||2,122|43,163||4|232,194| ||Expenditure||||||||| ||10 Circuit assessment or share|||64,916|||||64,916| ||11 Grants and donations|||6,474|||||6,474| ||12 Property maintenance|||43,233|||||43,233| ||13 Insurance, utilities etc|||22,593|||||22,593| ||14 Depreciation|10||1,925||1,120|||3,045| ||15 Salaries|9||16,854||29,840|||46,694| ||16 Office expenses|||27,398||1,177|||28,575| ||17 Other expenditure|||22,829||15,201|||38,030| ||18 Internal organisations|||4,911||5|||4,916| ||19 Total charitable expenditure||211,133||0|47,343||0|258,476| |°
.|20 Gains/(losses) on monetary investments||||||||0| |7|-21 Gains/(losses) on investment properties||||||||0| |ng|‘21 Net income/(expenditure)||-24,228||2,122|-4,180||4|-26,282| |“2
22 Transfers between funds
“23 Othergains/(losses)||||-271||||0
14-285|| |OF on24 Netmovement infunds
ae 25Totalfundsbroughtforward|||-24,499
216,777||2,122
4,382|-4,180
76,494||-10
9,925|-26,567
307,578| ||26Totalfundscarriedforward||192,278||6,504|72,314||9,915|281,011| Church No 09/09 ## Penrith Church ## Balance Sheet as at 31 August 2022 **----- Start of picture text -----**
General Fund | Designated Restricted | Endowment | Totals 2022 Totals 2021
Notes to the (Unrestricted) (Unrestricted)Funds Funds Funds
Accounts £ £ £ £ £ £
Fixed Assets
Church building and other property |_10—«Y~—S 13.050] | tt.00a] | (2.058 27,103
linvesimentproperies | S| SCT SC CT TCE CC |
[investments Total| tt |fat4 2639
fixed assets farossf| 14008] ato),
77
[Debtors and prepayments] 12s] SS aeg?SCi‘“‘(SC*dL SOOT CC] 88,422
Loans by the Churches a Cs es ee (ees ee" 5 ee
investments win TMCP_ | tts Sado] | | S705] 4,78
[CentralFinance
Board Deposis | ‘| —eo,asel_— aval [anal]
Gash 01.647
[_____Tota/currentassers|at Bank and in hand Paz [2061]5.0s4] 52.002]|S 77,687 76,940
(| 179.se7] 604] 61,036] 9,708 279,704
Current liabllities
Creditors (due in under
| sTotafcurrentiiabiliies|7 year 3| 472)am]SCS] 4801] |_3,763 7 67)
Net current assets/iabilities] [__———|__—=—'175,185|] | 6,504 81,306 252,700
Total assets less currentiabities|| ___te27a]____es0a] —raata]_—aate]_ 267,014] [__s07.678
{dueLong termafter more liabili t ieshan one year) P|
[Grantspayable after2022-23 | ST SCT CCT TCT CE |
llsanstotne Cre T | CUP TCC TTC TC
po Netassots| 192,278]650af 72,314] 9,945] 281,011 307,578
Funds of the Church
General Fund (Unrestricted) = 192,278
Designated Funds (Unrestricted) | 6504} | [4,382]
Total Unrestricted Funds| | 198,782| |221,159]
Restricted Funds —
[Endowment Funds |_| [2,825]
TotalFunds| 15| __192,278] 6,504] 72,314] 9,915] 281,041) 307,578
The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102))
and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Approved by the Church Council Meeting on 3 \ | S&S \ 2023 and signed on its behalf by:
Signed Signed
}
Sl
Rev Tim Cooke
Superintendent Minister Churgh Treasurer
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Church No 09/09 ## Penrith Church ## Statement of Financial Activities (SOFA) for the year ended 31 August 2021 ||Notes to||Designated||||| |---|---|---|---|---|---|---|---| ||the|General Fund|Funds|Restricted|Endowment||| ||accounts|(Unrestricted)|(unrestricted)|Funds|Funds||2020-21| |||£|£|£|£||£| |Income|||||||| |1
Offerings||120,047|||||120,047| |2
Donations and legacies|4|11,910|3,143|30,321|||45,374| |3
Gift aid||26,761||2,291|||29,052| |4
Interest and investment income|5|310||28||3|341| |5
Income from investments|||||||0| |6
Grants||5,774||5,000|||10,774| |7
Internal organisations||890||276|||1,166| |8
Other charitable income|6|26,137|||||26,137| |9 Total income||191,829|3,143|37,916||3|232,891| |Expenditure|||||||| |10 Circuit assessment or share||99,760|||||99,760| |11 Grants and donations||1,971|||||1,971| |12 Property maintenance||41,884|285||||42,169| |13 Insurance, utilities etc||25,749|998||||26,747| |14 Depreciation|10|2,992||1,120|||4,112| |15 Salaries|9|12,249||16,280|||28,529| |16 Office expenses||30,427||508|||30,935| |17 Other expenditure||16,490||8,388|||24,878| |18 Internal organisations||403||850|||1,253| |19 Total charitable expenditure||231,925|1,283|27,146||0|260,354| |20 Gains/(losses) on monetary investments|||||||0| |21 Gains/{losses) on investment properties|||||||0| |21 Net income/(expenditure)||-40,096|1,860|10,770||3|-27,463| |22 Transfers between funds|||||||0| |23 Transfer to Penrith Circuit|15|-51,291||-240,538|||-291,829| |24 Other gains/(losses)||669||||35|704| |25 Net movement in funds||-90,718|1,860|-229,768||38|-318,588| |26Total funds broughtforward||307,495|2522|306,262|9|887|626,166| |27Totalfundscarriedforward||216,777|4,382|76,494|9,925||307,578| |4. penations|.
Unrestricted|.
Unrestricted|.
Designated|.
Designated|;
Restricted|;
Restricted||2022|2021
Total| |---|---|---|---|---|---|---|---|---|---| ||£||£||£||£||£| |Donations||10,717||2,122|21,786||34,625||42,773| |Legacies||. 2,000||||||2,000|2,601| |Total||12,717||2,122|21,786||36,625||45,374| |5. Interest/Investment Inc|.
pnnotten||.
Designated||Restricted/
Endowment|||2022
Total|2021
Total| ||£||£||£||£||£| |Central Finance Board||445||0||0||445|189| |Other||185||0||21||206|152| |Total||630||0||21||651|341| |In 2021 all incomewas unrestricted|with the|exception|of£4on|on an Endowment||and £17on||an Eden|| |Debt Centre account|||||||||| |||||||||2022|2021| |6. OtherCharitableIncome|.
Unrastricted||.
Designated||;
heetiowe|||Total|Total| ||£||£||£||||£| |Lettings||26,009||0||6)|26,009||11,019| |Cateringagency||0||0||0||0|77| |Photocopying income||201||0||0||201|50| |Equipment hire||80||0||0||80|20| |Fees -weddings, etc||2,985||0||8)||2,985|3,317| |Magnet||117||6)||0||117|117| |Insurance claim||3,517||0||fe)||3,517|ie)| |Reimbursed professional fees||0||)||0||0|11,108| |Mission communities||0||0||a)||0|312| |Youth forum/Youth camp||0||0||ff)||0|117| |||32,909||0||it)|32,909||26,137| In 2021 all income was Unrestricted. Included within Grants in the Statement of Financial Activities are monies received under the Government's Coronavirus Job Retention Scheme amounting to ENil (2021: £2,399). This was considered to be Other Operating Income in that year. ## 7. Payment to Trustees Payments made to trustees for additional services provided to the Church by agreement with the Church Council Meeting **----- Start of picture text -----**
|||||||||| |---|---|---|---|---|---|---|---|---| |Number|of trustees who were|paid|expenses| |Nature|of the|expenses| |Payment|of fees|for|PA|system|support|or|as|organist.| **----- End of picture text -----**
Total amount paid **----- Start of picture text -----**
This year Last year
£ 350 50
£
**----- End of picture text -----**
The Missional Pioneer and Lay Pastor is employed by the Church but not for his role as a trustee from 1 September 2021. 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 **----- Start of picture text -----**
£ 2,310 1,050
£ RF La
**----- End of picture text -----**
9. Paid employees Staff Costs paid during the year were: Gross wages, salaries and benefits in kind **----- Start of picture text -----**
|||| |---|---|---| |Employer’s|National|Insurance costs| |Apprenticeship allowance|costs| |Pension|costs| **----- End of picture text -----**
Total staff costs ## Average number of staff employed during the year were: **----- Start of picture text -----**
£
43,538 27,207
£ 1,929 158
214 125
£
1,013 1,039
£
46,694 28,529
[gy
**----- End of picture text -----**
No employee was remunerated over £60,000 in 2022 or 2021 |||==
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O al|||| Penrith Methodist Church 11. 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 managementoftrust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference. ## Analysis of investment movements **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |This|year|Prev year| |Change|in|investment|values| |£|£| |Carrying|(market)|value|at beginning|of year|49,279|48,573| |Add: additions to investments at cost|i|ae| |Net gain/(loss)|on|revaluation|(285)| |Carrying|(market)|value|at end|of year|48,998|49,279| **----- End of picture text -----**
**----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |Investments|at|market|value|comprised:| |Trustees|Interest|Fund|44,745|44,741| |CFB|Managed|Mixed|Fund|4,253|4,538| **----- End of picture text -----**
12. Analysis of current assets ## This year Last year |Debtorsand prepayments|£|£| |---|---|---| |Pre paid assessments|17,215|13,332| |Accrued income|10,000|10,000| |Otherdebtors|6,207|8,372| |Total debtorsand prepayments|33,422|31,704| |All prepayments, accrued income and other debtors related to unrestricted funds in||| |both2022and2021.||| ## Analysis of cash at bank **----- Start of picture text -----**
Bank balance held in Barclays Bank PLC 65,061 68,347
Bank balance held in CAF Bank Ltd 6.953 4711
Bank balance held by Internal Organisations 2.239 2271
Cash balances held by Internal Organisations 3 434 1,611
Total Cash and Bank 77,687 76,940
**----- End of picture text -----**
Cash at bank balances were as follows: unrestricted funds £20,611 (2021: £18,732), designated funds £5,034 (2021: £2,912) and restricted funds £52,042 (2021: £55,296). Central Finance Board accounts are unrestricted £90,884 (2021: £115,556}, designated £1,470 (2021 : £1,470) and restricted £9,293 (2021 : £9,293). ## 13. Analysis of current liabilities and long term creditors **----- Start of picture text -----**
Other Creditors 4801 3767
Total Current Liabilities 4.801 3.767
**----- End of picture text -----**
Of the creditors £Nil relate to designated funds (2021: £Nil) and £29 to restricted funds (2021: £223). ## 14. Capital commitments and contingent liabilities At the 31st August 2022 the Church has no capital commitments. No contingent liabilities were identified at 31st August 2022 Penrith Methodist church 15. Detailed analysis of individual fund movements **----- Start of picture text -----**
Unrestricted Funds
Opening Expenditure Transfers Revaluation Closing
Balance gains/losses Balance
CS a
Tora] 22550] soso] antes] | ra 20D
**----- End of picture text -----**
**----- Start of picture text -----**
Restricted Funds
Opening Expenditure Transfers Revaluation Closing
Balance gains/losses Balance
Lift installation [_ioszzy Cd]SCT88
TT a a; ae Maen) cme
Benevolent fund raat at SC C7]
ee >|(3)
J Dawson legacy -outreach/youth 9,293SS ee Ss eS) ee
Eden Debt centre 27,732 si Ots—‘—~*:Ci“‘<‘WN _i*it 50,856
Missional Pioneer/Lay Pastor P| 15,000) i a ae
47343] 72,314
Totals Te
Endowment Funds
Restricted Fund Name Opening Expenditure Transfers Revaluation Closing
Balance pains/losses Balance
Penrith Property Fund pedd
Stephen Cherry Bequest Se 2) es a EC) 2)
James Watson Legacy eesees eet) (ees
Herbert Nichol Bequest a a es See (eX)
Totals gstEte],935
Fund purposes
Unrestricted funds
General fund - the managing trustees act prudently in maintaining adequate general reserves to achieve our
objectives, by covering six months expenditure and sufficient to cover reasonable anticipated ongoing
maintenance costs
**----- End of picture text -----**
Various 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 Youth fund (formerly Bridge and youth fund) represents donations and legacy designated to support youth work previously run from the Bridge but now fram the Church building, 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 is a grant designated for school chaplaincy purposes and will fund such resources. Kids Alive fund is donations designated to be used by Kids Alive to purchase future resources H Nicholson left a bequest to be used for alterations to the library area ## Restricted funds Lift installation fund represents grants received to install a lift in the church building 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. Incorne will cover costs arising. Benevolent fund represents monies received for use for benevolent purposes J Dawson legacy received is to be used for outreach and youth work as requested in accordance with the bequest Missional Pioneer/Lay Pastor work received grants which were used against part of the employment costs. Endowment funds These are bequests received over the years which are invested with the Trustees for Methodist Church Purposes for use in accordance with the bequests received. |||Penrith Methodist church||||.| |---|---|---|---|---|---|---| |16.|Analysis ofNetAssets|(between restrictedand|unrestricted funds)|||| ||||Tangible
Invest-|Other||| ||||fixed
ments|net||| ||||assets|assets|Total|| ||||£
£|£|£|| |Year to 31 August2022||||||| ||Unrestricted funds||13,050
39,083|140,145|192,278|| ||Designated funds
Restrictedfunds
Endowmentfunds||PCTCd
504]
6,504
11,008]————*«||_~—_—61,306
es|||| ||||48,998]|207,955}|281,011|| |Year|to 31 August 2021|||||| ||Unrestricted funds
Designated funds
Restricted funds
Endowmentfunds||14,975
39,354
162,448
PCC
CCC*dCC4382]
12,128]———s«|_—i6
4,366]
a
9,925,
|||216,777
4,382
76,494
9,925|| ||||27,103
49,279|231,196|307,578|| **----- Start of picture text -----**
Appendix A
CHURCH COUNCIL MEMBERSHIP (THE TRUSTEES)
**----- End of picture text -----**
MINISTER(S) Rev T Cooke LEADERSHIP TEAM Mrs H Brunskill Mr G Frost Mr S McNichol MrJSummers Mr C Swift Mr M Tebb-Roger Mrs A Wicker CHURCH SAFEGUARDING CO-ORDINATOR Mrs A Birkett CHURCH REPRESENTATIVES (OTHER MEMBERS OF THE CHURCH COUNCIL) Mr D Agus Rev G Belford Mr M Boone Mrs T Cooke Mr G Cozens Ms L Frost Mr C Hulme Mrs A MacDonald Mrs H B Patterson Mrs N Thornton Mr A Wright Mrs K Davidson KEY LAY WORKERS Mr M Tebb-Roger **----- Start of picture text -----**
DECLARATIONS
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## Treasurer | confirm that these accrual based accoufits for the year ended 31 August 2022 have been prepared from the records of the Church and that they include all fundg junder the control of the Church Council. **----- Start of picture text -----**
Signature of Treasurer Wizf Date
2 =a Pa -. :
Ey
PEEES The Walled, Bencous
Pen nth, Combria,XS Cal)2 CDC .
Presentation to the Church Council for approval.
to| confirm the Church that theCouncil annualat itsreportmeeting and accountson for the year ended 31 August 2022 were, presented IS | {S| | 2023
**----- End of picture text -----**
## and were approved. Signature of the Chair of the oD é. meeting Name of the Chair of the meeting Sev Tin Gouks Date 3 \ ls | 262-2 ## INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2022 ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENRITH METHODIST CHURCH (the ‘charity’) | report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2022. ## RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’). | report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## INDEPENDENT EXAMINER'S STATEMENT | have completed my examination. | can confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and 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. { 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. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the charity's Trustees those matters | am required to state to them in an Independent Examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. ## Signed: 7? ## Dated: + Une azz Karen Rae FCCA DChA Armstrong Watson Audit Limited Carlisle