Church Accruals Accounts 2023-2024 THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2024 Penrith Church Registersd Charity- Reglsirniion numl>er111 applicabJ¢l 1127359 Penrith Circuit No 09109 Minister Rev T Cix)ke Church Stewards Mrs A Birkett Mr5 H Brun$knll Mr G Frosi MrSWKh Mr PJ Mulherw-summers Mrs R Smith Mr M Te￿R M￿A Wx*er Church T￿aSurer Mi S c￿Ments. Mr C Hulme. Mr S LlcNichc4 Penrith Church TRUSfEES' ANNUAL REPORT FOR THE YEAR ENDED31 AUGUST2024 Introdurtion The managing trustees have pleasure tn presenting their report and the financial statements rjf the church for the year ended 31 August 2024. Airn5 and organisation Affirming our faith in God. Father, Son and Holy Spirit. our mission is to make Jesus known 35 Sawour and Lord by word and through meaningful worship, service and outreach. in and around Penrith and recognising our responsibility within the world and th<& wnrlrf rhiir Review of the year 2023124 has agaifi been a difficult year with red*Jced iniome frorn regular giving. We have remained optimistic and hopeful though. as we have continued to work toward our core objectwes of being a church family celebrating the unconditional love of God as found in Jesus. and Seeking to share that love with otsr cornmunity. We have continued to reach out to our comrnunity with the message that all a￿ welcomed. valued and included. Incorne trends Church income is primarity drawn from the Sunday collections and Gift aid tax CTediL donations and lettin8s I￿orne paid by the congregation and extemal users of the building. The letting income relates tts the hire of the church. hall and rooms to various groups in the communrtv. During the year total income received was £278,161 12023.. £32S.4(YJl, including grants of £51,338 for VAT included in the wtndow renovation costs. rnis5ion pioneer, Eden Debt Centre, and HolidayAttivities and Food12023.. £121.097 for window renovations.mission pioneer.Eden Debt Centre. and Holiday Activities and Food). nditure trends A major cost is in relation to the assessment paid to the Penrith Circuit. This amounts to 24.9%12023- 18.4%) of our total cost. The Circuit assessment fernained the same as last year. but the proportion to totsl costs ha5 increèsed. This is due to last year having siRnificant additional costs relatin% to rejlacement of the church windows. A significant amount of the Circutt assessment is used to pay the District assessmen¢ stipends and related costs to M1nrste￿. The other expenditure tncludes salaries. administration and general maintenance. Repairs have included sanding and lacquering of the hall floor. surveying and jetting of the drains. heatillg and plumbing repairs. electrical testin8, decoratin& insulation and various equipment repairs. Fund balances As at 31 August 2024 the un￿strICted net current assets of the Church were £181,241. giving just over nine month's cover for expenditure. the designated net C￿r￿nt assets are £9.909 for the Youth fvnd. Mission Academy, Chaplaincy. Kids Alive and library alterations. and the restricted net cur¥ent 85sets were £68,841, which are for Eden Debt Centre. Jean Dawson outreach and youth wo¥k. the Benevolent Fund, Warm Space5 and Holiday Attivities and Food pro8ramme. Plans for 2024 We are committed to gmw as a church family - seeking to be more Christ-like. and Browing as follower5 of Jesus. We pledge to be sharers of the goodness and love of G( with others so they get to know it too expecially seeking to help those who are vulneTable. marginalised. oppressed or hurtin8. We want to be a safè home where all are welcomed. valued and included in full oarticioation of our lrfe toEether. Financial￿. we will continue to seek additional iHcome through increased lettin8$ and direct giving. We will keep a careful management of our expenditvre. Penrith Churth Trustee'5 Annual Report on Finan￿ and Govemance Basis of preparation and leBal framework The Chariws annual report and accounts for the year Ènded 31 August 2024 have been prepared in accordance with the Charities Act 2011 and the Charities Statement of RecommèrTrded practi￿ 2019 as applicable to the Financial Reporting Standard 102IFR51021. Full Name of Charity / Church= Penrith Methodist Church lalso known as PMCI Registration Charity Number.. 1127359 Date ot registration-. 2 January 2009 Main communication address Ichurch office): Wordsworth Street, Penrith, Cumbria, CAII 7QY The members of the Penrith Methodist Churth 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 Tnjsteesl and key lay employee5 are shown as Appendix A to this report. Treasurer.. Mr S Clements. Mr C Hulme. Mr S McNichol Independent examiner.. Mrs Ka￿n A Rae. Armstrong Watson LLP, James Watson House, Montgomery Way. Rosehill. Carlisle, Cumbria. CAI 2UU Investment Bankers: Central Finance Board of the Methodist Church Trustees for Methodist Church Purposes Barclays Bank PLC CAF Bank Ltd. Penrith Church Aim5 and orzani5ation Charity objective is, in affirming our faith in God, Father. Son and HO￿ Spirit, to make Jesus known as Saviour and Lord by word and through meaningful worship, service and outreath. in and around Penrith and recognising our re5ponsibilitywithin the wodd and the world church. The purposes of the Methodist Churth are ar￿ 5h311 be deemed to have been since the Date of Llnion the athancement of.. al The Christian fatth in accordance with the doctrinal standards and discipline of The Methodist Church.. bl Any charitable purpose lor the time being of any Connexional. Distritt. Circuit. local or other organisation of The Methodist Church.. cl Any charitable purpose for the time being of any society or institution subsidiary or antillary to The Methodist Church.. dl 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 arts of worship. The organisation and resourung of regular public acts of worship open to members of the ehurch and non mernbèrs alike. The teaching of Christianity through sermons. courses and 5rn311 gfOUPS. The resourcing of pastoral work including visiting the sick and bereaved. Taking religious assernblies in local schools. Promotion of Christianity through the staging of eve#t5 and servi￿. Provision of chaplaincy services to local schools. Ca￿ homes and other institutions as appropriate and when able. Public Benefft We confirm the Tntrstees have had regard to the Charity Commission's guidance on public benefit. Structure. GovernaKe and Management The goveming document for the church 15 the Deed of Union119321 and Methodist Church Act 119761 Detailed governance arrangements a￿ outlined within the Constitutional Practice and Disapline of the Methodist Church by order of the annual conlerence ICPDI. Day to day management of the churth is undertaken by the Church Leadership team along with the Minister. The Trustees are appointed at the AGM of the churth. TrusteeTraining A range of guidance produced by Methodist Connexitsn to support the effettive runniTrg of the church and the role of Trustees 1$ given to the Church Trustees at variou5 meetings andlor training sessions. Related Parties The Church is part of the East Cumbria Orcuit which was part of the Curnbria District Ipart of the North West England District frorn 1st September 20241 and is also accountable to the Methodist Conference. The internal organisations linked to this church are Lunch club, Flower fund and 4Fs. Penrith Church Risk Management The major risk5 have been identifted and recorded bythe Trustees with professional ad￿￿ taken as required. There is regular annual review process undertaken and recorded. Income and Expenditure is being monito￿d in totsl and 15 cornpared with thè approved annual budget on a half yearlv basis to detect t￿ndS a5 part of the risk management proce55 to avoid unforeseen calls on reserve5. Safeguarding Everyperson h05 0 value unddignity which come5 directfyfrom the rreotion ofmole ondfvmole in God's own imt7ge ond likerjess. Chri5tions see this potentiolosfulfilled by God'5 re)d practite. The Penrith Church commtts 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 anLI trainingfor lay and ordained people that will ensure people are clear and confident about their role5 and resp)nsibilities in safeguardin8 and promoting the welfare of children and adults who may be vulnerable. Reserves Policy The Reserves Policy forthe Church is to hold as un￿l￿(ell ftEnds a minimum sum equivalent to six month5, average expenditure and to cover reasonable anticipated maintenance costs. This should be sufficient to meet any unforeseen item of major expenditure on the chufch building and l or to be able to continue. in the short terrn, funding planned activities in the event of any inabilityto raise the full expenses including the asse5srnent payable to the Circuit. The Designated funds are those received and designated for use on specrfic projects. To date designated funds are held to cover Penriih Mission Academy. the Chaplaincy fund. Kids Alive. library alterations, yO￿h and Community Outreach. Restricted funds are those recerved for specific projects and can only be used for such Purposes. To date restricted funds have been used for the refurbi5hmeTht of the hall and kitchen. the installation of a lift and for specific furnishin85. Donations and grants held have been specificalty re￿IVed to Fund the Eden Debt Centre and will be used to c¢wer cosrs arising including employment of the centre manager. and towards employment earl ToIal¢urr•￿￿ith1tr•S 60.D87 9.872 14 6.244 ¢244 247.692 6,454 6,454 242.755 14 167.838 6Qm3 *B72 Tolalass•ts ￿$S(LyF￿*￿•ti 1$1.241 10.089 270.080 267.856 LoM¥term liaNlitie5 (due afternN>rethan Pne year G¢ants payable èA8r2022-23 Loan5 ID N*tossets 181.241 68,841 10,089 270,080 287.856 Fund$ of th• ChufG Ggneiai Fund ILknreslr￿lé￿) De&gnated Fund5 Iunresthctedl rotalun￿5fnctèrffV1l￿ RESlncted Fund5 Endowment Fur 181241 180.408 151,15Q 58.841 10.089 270.080 IM619 rotaiFynds 10,019 10,089 15 181.241 9,966 267.856 68.841 The fina￿￿￿1 Si8temerfs kwve tr*¥n wepared m ats>xdant8 %*ilh At￿nI￿19 RerA￿tU￿j tyChar￿e5." ststeffl￿ Recommended Prattitp ap￿4￿￿le lo charitks Pt8panrKJ ￿raCe￿[rts in axxydants the Repornr Standard appI￿atr￿e In the UK Snd ofirknd IFRS1021 {èffeaNe l JayJary2019}- Icjwnbes SORP IFRS 10211 End th& Fiw(Jal Rewttsrg In the UK and ol lrfand IFRS7021 Notes to the I. ofa(cowrtfj toth3ntWwepanrytWr•ccrthts￿*t**&nr¢WI￿tr¢Fpi*1u4w￿IH*S1ar￿￿*kknthtUK￿dRÈ￿￿￿fIl￿￿é [FR510211effort￿ 2. FuDd5 3. Accouthtin8 ptsli¢ies Basls Inroffle E¥penditure GTrnts VAT TangiblÈfixed 455etsfor use bythÈ Churth Investment PrtspErbe5 In¥estmetsts Debt(￿54￿d Prepayments Creditors Cash at bank ahd in hand A(couThtin¥ Estirn4tes Pen%ons Penwith Methadistchurth 4. Donations Unrestricted 2024 Total 2023 Total Designated Restrirted Donations Leeacies Total 16.080 17.956 35.813 36,928 500 37.428 16.1)80 L777 17,956 35,813 S. Interest/irwestment Inc Unrestricted Designated Restricted/ Endowrnent 2024 Total 2023 Total Central Ftnance Board 4.957 4.957 Other 2.424 119 2.543 Totsl 7.381 119 7.500 In 2023 all income was unre5trirted with the eX￿ptIon of £60 on an Endowment and £26 on an Eden Debt Centre account 3,105 1.511 4,616 2024 Total 2023 Total 6. Other Charitsble Income Unrestritted Designated Restricted Special events Reirnbursements Lettings Photocopying in¢ome Equiprnent hi Fees- weddings, etc Magnet Insurance claim 1.2 129 36,868 1,280 129 36.868 206 40 2.334 533 37.595 269 180 2,265 144 40 2,334 144 41.001 41.001 40.986 In 2023 all irt&￿e was Unreslrthd. 7. payme￿ to Trustees This year Lastyear Payment5 made to trustees foradditional seryices provtded to the Church by agreement with the Church Council MeetlnE 350 425 Number of trustees who were paid expertses Nature of the expenses Payment of lee5 for PA system suprK)rtor as or8aTrist. Total amount patd The Mi55ional Pioneer and Lay Pa5torwas employed by the Church but not for his role as a truttee from I Septembei 2021 to 31 August 2024. 350 425 8. Feesfor examination or audlt of the 3ccounts Independent Èxaminerfs or auditors, feÈs for reporting on the accounts 2.028 1,866 Other fees leg.. advice. accountancy seM¢e51 paid to the independent examiner orauditor 9. Paid employees Staff Cost5 paid durlng the ye¥rwere: Gros5 wages, salaries and benefits in kind 52.806 51,440 Employerfs National Insurance costs 2.780 2,802 Apprenticeship allowance costs 261 256 Pension costs 2,932 3,149 Total staff costs 58,779 57,647 Average number of Stsff employed durin¥the yearwere: No ernployee was remutteraied ¢)ver £60,1)M In Z024or 2023 11 11 11 11 ¢ J IIIIIBI 11 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 Atcumulated 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 charity13w and Methodist law and polity as determined by the Methodist Conference. Analysis of investment movements This year Prev year Change in investment Values Carrying Imarketl value at beginning of year Add: addition5 to investments at cost 48.877 48,998 108 60 Less.. disposals at carrying value Net gain/llossl on revaluation Carrying Imarketl value at end of year 315 11811 48,877 49.300 Investments at market value comprised.. Trustee5 Interest Fund CFB Managed Mixed Fund 44,912 4,388 44.805 4,072 12. Analysis of current assets This year Last year Debtors and prèpayments Pre paid assessments 17.215 17,215 Accrued income 9,375 9,167 Other debtors 9,548 6.447 Total debtor5 and prepayments All prepayments. accrued income and other debtors related to unrestricted funds in both 2024 and 2023. 36,138 32,829 Analysis Of cash at bank Bank balance held in Barclays Bank PLC 45.880 52,908 Bank balance held in CAF Bank Ltd 31.814 12,154 Bank balance held by Internal Organisations 1,905 1.765 Cash balances held by Intern31 Organisations 3,785 3,556 Total Cash and Bank 83.384 70,383 Cash at bank balances were as follows- unrestritted funds- £24,15112023= £13.5241, designated funds £8,43912023= £6.7411 and restricted funds £50.79412023.' £50.1181. Central Finance Board accounts are unrestricted £78.73912023: £90.4291. designated £1,47012023 . £1.4701 and restrirted £9,29312023 .- £9.2931. 13. Analysis of current liabilities and long temi creditors Other Creditors 6,244 6,454 Total Current knabllities 6,244 6.454 Included within other creditors is deferred income amounting to £2,99512023.. £1,9741. Deferred income represents monies received in advance. Of the creditors £Nil relate to de5Tronated funds12023-. £Nill and £14 14. Capital commitments ènd contingent liabilitles At the 31st August 2024 the Church h35 no capitsl commitments. No Contingent liabilities were identifjed at 31st August 2024 re5trlrt*dF￿￿5 Fund NamE enw$lund 14].497 21451 J42ml 6fft4n mem DPSI￿aIed Fund Ywthfund Penriih Lnp 424 ath1￿¥(￿nd HNicho15on L*iaryalter3ti￿s 18B.619 22Q$27 21&5 i$i.i trittEdFur*s Ftsnd Na r*rkn eYcAtrnt*und 43 Pa51or Warms ntFLiids OpErd 51tohcnCher￿Be￿Vts 201 ¢tbert14K vest L07 2.20P unresl￿￿e61vn0s ￿te￿ne￿(￿&t5 DE5¥natEdtvnOs fynd5. pmc Hrii¢ho150n l¢fti Resliirle¢lund5 thEcost5of¢mthn&Aiefttte mawrt￿￿Ih Pmc. E￿￿￿1[￿￿05 Penrith Methodist Church 16. Analysis of Net Assets Ibetween restricted and unrestricted fvndsl Tangibje fixed Invest- ment$ Other net assets Total Year to 31 August 2024 nrestritted funds Oesi8nated funds Restricted funds Endownient funds 9.232 39.211 132.798 9,909 60,073 181.241 9.909 68,841 8.768 Year to 31 August 2023 Unrestricted funds Designated funds Restricted funds Endowment fund5 11.141 38,911 130,356 8,211 59.383 180.408 8.211 69,271 9.888 Penrith Methodist Churth AppendixA THE TRUSTEES CHURCH COUNCIL MEM8ERSHIP MINISTER Rev T Cooke LEADERSHIP TEAM Mrs H 8runskill Mr G Frost Mr S McNichol Mr P J Mulheron-summers Mrs R Smith Mr M Tebb-Roger Mrs A Wicker CHURCH SAFEGUARDING OFFICER Mrs A Birkett CHURCH REPRESENTATIVES Mr DA8US Rev G Belford Mr M Boone Mrs T Cooke Mrs K Davidson Mrs S Graham Mr C Hulme Mr5 A MacDonald Miss S Peterson Mrcswift Mr C Thornton OTHER MEMBERSOF THE CHURCH COUNCIL KEY LAY WORKERS (to 30161241 Mr M Tebb-Roger Penrrth Methodist Churth DECLARATIONS Treasurer I confirm that these acuual based a¢counls for the year ended 31 August 2024 have been prepared from the re(x)rds of the Church and that they indude all funds under the contrd ol the Church Counryl. Signature of Treasurer Date Li Narne of T￿asurel Address .. LvLq￿T1[ clklo l Q LJ Presentatlon to the Church Council for approval. I confirm that the annual retxjrt and accounts for the ypar eThJgJ 31 August 2024 were, presented to the Churth Council at its meeting on 161£12 and were approved. Signature of the Chair of the meeting Narne of the Chair of lh8 meeliThJ Rev rim Cooke Date ol£1 INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST2024 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENRITH MEfHODIST CHURCH Ithe 'charity'l I report to the charity Trustees on my examination of the acwints of the charity for the year ended 31 August 2024. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the charity, you are reswnsit4e for the preparation of the accounts in aco)rdance wth the requirements of the Charitios Act 2017 Ilhe 2011 Acri. I report in respe¢t of rny examination dthe charity's ac(thnts Carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 A( INDEPENDENT EXAMINER'S STATEMENT I have comE4eted my examinat50n. I can ¢onfirm that no matter5 have rorne to my attenbon in connection ￿th the examination gwing me eause to believe that in any material ￿pect-. acwJnb"ng records were not kept in respect ofthe charity as wuired by sectiM 130 ofthe 2011 Act.. or the accounts do not accord wilh UwJse reccYd5.' or the attounts do not rA)mtty with the applicatAe requirements Cort￿MIng the forrn and content of accounts $8t out in the Charities (Accounts and Rewrt51 Regulats'on5 2008 otrer than any requirement that the accounts give a'true and fairf v￿W whi¢h is not a matter cL￿1d￿ed as part of an independent examination. I have no concems and have come a(xoss rm) other matt￿$ in o)nnedion with the ex8minats.on to which attention should be drawn in this report in order lo enable a proper understanding of Ihe acownts to be reached. This report (5 made solely to Jhe charivs Trustees. as a body. in accordance with Part 4 of the Charities (Accounts and Rerx)rts} Regulations 2008. My work has been undertaken so that I might state lo the charity's Trustees those matters l am iequired lo state to them in an Indepen¢Jenl Examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not attept or assunie re5FK)nsibility lo anyone oth8r than the charty and lh8 tharity's Trustees as a for my wotk or for this ￿POrL Signed-. Dated: ilo 20 Karen Rae FCCA OChA Arrnstrong Watson LLP Carfisle