Church Accruals Accounts 2024-2025 THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2025 pe￿1th Church Registwed Charity- Re91StratI￿ number rrf applica>le) 1127359 Cumbria Circuit No 110 Mlnlstsr Rev J Rad Chufch StÈwards Chuich Treasurer S Cl￿entS. C Hthe. S M¢W4"col Penrith Church TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST2025 Introduction The manag5ng trustees have pleasura presenting rheir report the financial statements of the church for the year ended 31 August 2025. 11.irnt organisation Penrith Methodist Church is a church community celebrating Ihe unconditional love of God a5 found in Jesus, and seeking to share that love with our community. We seek to journey with all people in the wild adventure of life and tsith - where all are welcome(l. valued and included. Review of the year 2025126 ha5 seen signs of stability with shoots of growth emerging. grving a renewed hope forthe fvtufe. we coAthnue to deliyer our key ai5ns and ojectives in temis of worship. learning & carin& service and evalgelism. This year has seen the retirement of both of the Circ¥Jit ministers and we have celebrated all that they have brough to our church over the last 12 years. We also looked forward to welcoming our new minister in September .25. trusting God that together we will continue to build on the foundations of the many fatthful people in our church community- Income trends Church income is primarily drawn from regular offerings made directly to the church bank accounts. or by way of Sunday/midweek service collections, bosted by Gift Aid tax credit. TheTe are alw dor¢ations for particualr chSJTch activities and social justice projects, ￿a(hIng into our community, plus lettings income from external users hiring of our premises. During the year total income received was £230.LKIS12024= £278,161), including grants of E6.270 for VAT included in the window renovation costs and Holiday Activities and Food 12024.. £51.338 for window renovations.mission pioneer.Eden CAP Centre, and Holiday ActiV5ties and Foodl. nditure trends A major cost is in relation to the assessment paid to the East Cumbria Methodist Circuit. This amounts to 14.0%12024'. 24.9%) of our total cost. For 2024125. we had a one-off reduction thi5 assessment to half the arnount payable, so the proportion to total costs has deC￿ased. A significant amount of the Circuit assessment is used to pay the stipends and related costs of the ordained staff employed by the Circuit. in addition to lay employmer*t costs Iboth ministry and administrativÈl. as well as the District assessment levied on the Ctrcuit. The other expenditure inclLEdes salaries, utitlites. administration and general maintenance. Repairs have included storm damage work, although an insurance claim was received towards this. replacement dishwasher, lift repairs and electrical testing. Fund bolan¢es s at 31 Augusi 2025 the un￿Stricted net current a55ets of the Church were £189.022, giving just over ten month's cover for expenditure, the designated net current assets are £11.160 for the Youth fvnd, Mission Academy. Chaplaincy. Kids Alive and library alterations, and the restricted net current assets were £56,078, which are for Eden CAP Centre. Jean Dawson outreach and youth work. the Benevolent Fund. Warm Spaces and Holiday Activities and Food programme. Plans for 2025 26 We are committed to grow as a church community- seeking to be more Christ-like, and growing as followers of Jesus. We pledge to be sharers of the goodness and love of God with others - so they get to know it too expecialty seeking to help those who are vulnerable. marginalised. oppressed or hurting. We want to be a safe home where all are welcomed, valued and included in full participation of our life together. Financially, we will continue to seek additional income through bncreased lettings and personal givin& tn additional to accesstng external funding for our social justice activities and those repairs which a￿ supported by grant-giving bodies. We will keep our income and expenditu￿ under review to ensure sound financial management. Penrith Churth Trustee's Annual Report on Finance and Goveman asis of preparation and leg31 fr3mework The Charity's annual report and accounts for Ihe year ended 31 August 2025 have been prepared in accordance with the Charities Act 2011 and the Charities Staiement of Recomrnended Practice 2019 as applscable to the Financial Reporting Standard 102IFRS1021. Full Narne of Charity/Church: Penrith Methodist Church (also known as PMCI Registration Chanty Number.. 1127359 Date of registration.. 2 January 2(Klg Main communication addres5 (Church offKel.. Wordsworth Street. Penrith, Cumbria, CAII 7QY The mernber5 of the Penrith Methodist Church Council are the CharityTruttees. membership berng made up of church offjce holders, Minster and rep￿entativeS appointed by the church either at the Annual Church Meeting or at Church Council meetings, a5 governed by the Const¢tutional Prattice & Dkscipline of the Methodst Church in Britain. Full list of ChuTch Council rnembets (theTTUSteesl ènd key lay employees are showA as Appeftd￿ A to ths report. Treasu￿r5= s aements. C Hulrne. S McNicol Independent exarniner: Karen A Rae. Arrnstrong Watson LLP. James Watson House, Montgomery Way. Rosehill, Carlsle. Cumbria. CAI 2UU Investment Bankets.. Central FIrtan￿ Board of the Methodist Church Trustees for Methodist Church Purposes Barclay5 Bank PLC CAF Bank Ltd. Penrith Church Aims and organisation The calling of Penrith Methodist Church is to respond to the gospel of God's love in Christ and to live out its discipleship in worship and mbssion. The purposes of the Methodist Church a￿ and shall be deemed to have been since the Date of Union the advancement of- al The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church: bl Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church; cl Any charitable purpose for the time being of any society or inststution subsidiary or ancillary to The Methodist Church,. dl Any purpose for the time being of any charity being 3 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 re50urcing of pastoral work including visitire the sick and bereaved. Taking religious assemblies in local schools. Promotion of Christianity through the staging of events and Se￿iCe5. Provision of chaplaincy 5eTvices to local Khools. care homes and other institutions as appropriate and when able. Public Benefft We confirm the Trustees have had regard to the Charity Comrnission's guidance on public benefit. Structure. Govemance and Management The governing document for the church is the Deed of Union119321 and Methodist Church Act {19761. Detailed governance arrangements a￿ outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference ICPDI. The Church Council delegates responsiblity to the Church Leadership Team for enacting it's decisions between the Church Council meetings. therefore ensuring day-tO-(lay governance and management. The church stewards and congregation rep￿SentativeS are appointed to the Church Council at the Annual Church Meeting with other trustee appointments being made by the Church Council. Trustee Training A range of 3.:idance is producpd by rbe Methodist Church In B¥irain (the Connexiool 10 sijpport thp effective rupnin8 of Ihe church and the role of Tru51ee5 is given to the Church Trusiees at various meerings andlor training sessions Related Parties In 202412) Penrith Methodist Church was part of the East C￿MbrI3 Circuii (part of the Cumbria CircL51t frofn 15l September 20251 which Is part of the North West England DisiTlCt and is accoLSntable EO the Methodist Conference. The Iniernai organisation5 linked to tnis cnurcri are Lunch club. rlower fund and 4r5. Penrith Churth 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. Ineome and Expenditure is being monitored in totsl and ￿ compared with the approved annual budget on a h3lf yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves. Safeguarding Every person hos u value and dignity which comes direrttyfrom the creation of mole t7ndftmole in God's own imoge and likeness. Christion5 see thi5 Potentiol osfulfilled by God's reihodi) 34.430 6,812 32.084 38.357 3,029 27.173 61,556 37.354 4.011 244,806 32.084 10 1.120 15.310 11. 24.084 4.011 211,049 519 12.751 S19 33.238 -3.387 1.251 -12.763 -14.801 .379 181.241 177,862 1251 -12.763 68.841 56,078 98 10,089 10.187 -14,793 270,080 255,287 11,160 Penrith Church Church No 110104 Statement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to DesTgnated the Gerteral Fund Funds Resiii¢ted Endowment accounts (Unrestricted) lunrestrictedl Fvnds Funds 2023-24 Incorne 1 Offerings 2 Dofflations and legacie5 3 Gifta 4 Interest and invèstrnent ineome S Incorne frorn inve51Tnw)ts 6 Grants 7 Intemal organisalions 8 Other charitable in¢ome 9 Total income 111.149 16,0 21.839 7.381 111,149 35,813 23,409 7.$00 17.956 12 107 13.649 7.951 41.(K11 219.050 37.689 51.338 7.951 41,001 107 278,161 57.227 Expenditure 10 Circurt assessment w shafe 11 Grants and ￿(￿t￿￿S 12 Property maintenancè 13 Insurance.utilrties etc 14 DeprecAation 15 Salaries 16 Office expenses 17 Othtrr expenditu 18 Intemal organisatyons 19 Total charitable expenditure 20 Gainsllk)ssesl tsn rTYJnetary investm&its 21 Gainslllossesl on investm￿¢ prorEr 21 Net in¢omellexpenditurel 22 Transfers be￿een funds 23 Other gainslllos5esl 24 Net movemetlt in funds 25 Total funds brought forward 26 Total funds carried forward 68.860 9,852 13.4SO 46,928 3.029 58,779 34,530 37,753 1071 0 276252 2.825 13.450 46.W28 10 1.120 37.078 1277 15357 21,701 22.317 3.071 218.516 57,6S7 107 q,909 18 315 123 2.224 9.966 267.856 10,089 270,080 833 180.408 181241 430 69,271 68.841 8,211 9,909 h¢rGh Ilo Balance Sheet as at 31 ￿uSt 2025 Tfd*2024 7X 14571 i&r 115D2 1•JGT 12 41.*2 69.*2 LUY46 %2 11.6$5 *97• 271.757 251936 Cr•dth5ldL*￿7W*r1 S￿> 13 $1167 11T 165 1165 6241 11.1 Z47.*2 17fJB2 tO.IIT thngtem liabilfti Idueatr¢rrnllreth￿ we 1TI 11.1 10.187 Fufflds ¢fthqChwch G￿￿al Fur4 IVrnt*it 17TMF2 11.1 1•9.q2t *on la187 191.19) t￿167 lQ.Q99 270.OBU 15 177M62 fl,19) appkabhè Intye L*¢arKlftewfts￿￿ty￿￿ IW1VZI 14kn 1 JaXWy￿¥).(¢￿th￿￿ IFRS 1(r21) penriih Methodist Church Noies ro Ihe Accounts l Basis of atwunting 2. Fund5 ate 4 3. A¢¢ountingpO￿aes Income Expenditure ÈS¢ul(e Grants 0bliytknn￿N1etbeparni. futu￿￿tIr51streOfed J5 VAT Ya•gible fixed as5et5forusebytheChurth Chuich EqL4PrnEfit HMffi¢SvStéffl Investments Debtors and Prepayments Crethiw5 Cash at bank and irb hand ty¢pen￿lIa1%hedlp￿5nW$rni￿a￿Ltr￿L Accounting Estimates Theprepara￿ ootyTÈdamounL Penrlth Methodist Church 2025 Total 2024 Total Unrestrirted 4. Donations Designated Restrirted Donations Legacies Totsl 10.629 1.770 13,689 26.088 35,813 10.629 1.770 13,689 26,088 35,813 2025 Total 2024 Total S. Interestllnvestment In¢ Unrestricted Oesignated Restrirtedl Endowment Central Finance Board 4.165 4.165 Other 2.192 2,290 Total 6.357 98 6.455 In 2024 all income was ￿n￿Stricted with the exception of £107 on an Endowment and £12 on an Eden CAP Centre account 4,957 2.543 7.500 98 2025 Total 2024 Total Unrestricted 6. Other Charitable Income Designated Restrirted Alpha Special events Reimbursements 185 185 1,280 129 36.868 206 40 2.334 Letting5 Pholocopwng income Equipment hire Fees - we 11 11 11 11 Peniith MeEhodi5t Church 11. Investment5 The fullds that support the variou5 funds are held by TMCP In Trustees Interest Fund5 on whtch interest is crediied to Ihe accouiits each monih. These are egarded a5 rnedium and long term .'nve5tnep.ts. TMCP is the legal owner and Custodian Trustee of all Methodisi Model Trust property, including Legacies, Endowments and Accumulated F￿nds. Trusf property is held for ènd on behalf of local Managing Trusiees who are respons.'"ble or t*e d3, th dJ%r Man2aartiup.i of trupSt property. TMCP ensure that. through providing guidance artd acting under their direction, the Managing Trustees comply with charity law and Methodist law and polity as deterniined by the Methodist Conference. Analysis of investment movements This year Prev year Change in Investment values Carrying Imarketl value at beginning of year 49,3(X) 48.877 Add: additions to investments at cost 98 108 Less: disposals at carrying value Net gain/llossl on revaluation Carrying Imarketl value at end of year 315 49,406 49.300 Investments at market value comprised-. Trustees Interest Fund CFB Managed Mixed Fund 45.010 4,396 44,912 4.388 Penrith Methoolst thtsrch 12. Analysis of current asset5 This year Last year Debtors and prepayments Pre paid a$5essments 17.215 Accrued income 32,885 9,375 Other debtors 11.703 9,548 Total debtors and P￿payrnents All prepayments. accrued income and other debtors related to unrestricted funds in both 2025 and 2024. 44,588 36,138 Analysis of cash at bank Bank balance held in Bardays Bank PLC 33.355 45,880 Bank balance hekl in CAF Bank Ltd 54,837 31,814 Bank balance held by Internal Organisations 1,905 1,905 C35h balances held by Internal Organisations 2,916 3.785 Total Cash 3nd Bank 93,013 83.384 Cash at bank balances We￿ as follows= unrestricted funds- £40.4￿12024= £24.1511. designated funds £10,18512024.. £8.4391 and ￿tritted lunds £42,32812024: £50,794). Central Finance 803rd accounts are unrestricted £78,38312024= £78.7391, designated £1.47012024 . £1.4701 and restricted £9.29312024= E9.2931. 13. Analysis of current liabilitles and lon8 tem treditors Other Credttors 35.837 6,244 Total Current Lrabillties 35.837 6.244 Included within other creditors is deferred income amounting to £3.41412024.. £2.9951. Deferred income rep￿SentS monies received in advance. the creditors £505 ￿late to designated funds12024- £Nill and £3.165 to restricted funds12024.. £141. 14. Capitsl commitrnents and contingent liabilities At the 31st August 2025 the Church has no t3Pital commitments. No Contingent liabilities were identified at 31st Au8U5t 2025 Pertrith Kqetrrfth51chur(h 1$ ol m(￿￿￿¢￿t$ Fund ￿)rne OpEDi aaLifice IrKome ExpE￿Il￿re Tran5fet5 1 fttvèluation C1051 alèn¢e vO¢IOuSrt)￿e, IrJ5t lknnd5 GFfr In memory -r.s Penrith MI551onAca4effry Chaplalncyfu￿£ KidsAlwe 424 424 59 59 69 H N￿￿oIson ￿braryake￿I￿5 191, 209.432 211x8 189.022 fund Name OperAry aovalua*H)n 005if4 Lift Installarion lew ￿tchen 8enevoSentlund Sand are rwffl (hhir5 J Dawson -otstreach EdeTrCAP centre Warrn Spare5 idtyACtMtiesardFood 9¢1 705 4￿75 931 3.987 40 9.293 30.Q91 828 3.$31 56.078 42 *293 43.27S B28 Lf4)2 14.374 27.158 S.170 10.475 3.941 33.k38 Er4Jo¥mient Fvn05 Restrithd Furd Narne Tr¥ofery Re¥aluatio CIosinB 8alJnre 754S 217 Penrilh Propvty Fund Stephen Cher uest Jamtt watsofl L 217 120 2.305 10.187 erbertNichal BequESL 2.107 10.089 To131S unre5trtCt￿ I￿￿￿". General furtd. thernanJ&inEyru5￿aU w>*thinmaint•nin(adeqLweBrn* reset%*Stoxb*eourobftciw. VaitOU5 TruStfu￿Sand Giftin n*nw¥ebeoue5rSrttEy%YdfrrtYthey￿Swkn￿hare in%*51ed ￿IhtheT[Ust￿eSfDt Methodistchurch PurposesFwusea5fE4uifE Dtsgn3tedfund5'. Youthfulld Ilorrnerty8ndgèan6fvJthfuThl1 W￿se￿ts￿rvDQn5a￿d wtydeswated ￿￿ppOrt¥￿Ih￿r Pwnfh MI￿ortA¢adeMyh￿stseen set tofur￿ ￿treath*¥￿*1nthec£w￿r*Jnity u￿r%¥￿￿5￿PpQrtfroTh PMC. ChapkitsQ fund 1savantd￿e￿aE￿dfOr￿￿t?olthaW3InCY WrkW)5e5¥d￿Rfv￿ T￿￿]ur sA14ve fund isdonatiOnsd&iwwted io beused *knd5Atveio W￿￿a5¢ful￿[￿¢Qs0Jr￿S 14icholsoh a bequest lobe usd t￿•11e11￿O￿5EQ thE htsrarya(e3 Restrirted funds.. ft insiallJtyonfund representsyantsrecert*d to iA%*lJlift mttrethlwth fyJik*r*in ¢onNn(Jon ￿th LW&iyonof laolli￿$1orthedI$a￿ed. ThebOL0n￿￿ll redutEaSthE rtErnS purchased 3rede￿ate￿. The newkrtchen Jnd>ftdgatE rotThthaitsfunds¢ewesent donaMnsroward5thE ED5toftkntitems.ThebJlJne* reduceas the PUfthasÈd Items aretteweo3ied_ BenE¥￿ent fund fepresentsrnonie5rKEi4*dforus*f￿tse￿ethYPufposes J Davlson legacy recewed be usedforovtreath Jffld pJthwta5requeSted ioxcud•Ke¥hth IhETrAqiie51 EdEnCAPCeniferepresenrs8rJn15•7ddoTratxJn5 tÈcehtd to gJpwithewtytolthecAPr￿tre Indudir*thecostsolemr4wr¢ a centre managerthroulh PMC. C jrp5ig?eA 3 1181251 Rev J Reid Ifrom 119j£5j- Rev G Belford Isupernumerayl LAY MINISTERIAL STAFF D Lawson CHURCH COUNCIL SECRETARY K Davidson CHURCH fftWARDS K Davidso S McNieol" C Swift lfrom 191101251. CHURCH TREASLIRERS S Clements C Hulme S McNicol' PASTORAL SECRETARY A Wicker CHURCH SAFEGUARDING OFFICER A Birkett (from 171101251 CHURCH REPRESENTATIVES AND OTHER MEMBERS OF THE CHURCH COUhtCIL 0 Agus M Boone H 8Tunskill" T Cooke (resigned 3118/251 G Frost l¥esEned 31181251 S Graham S Hulme. A MacDonald' P J Mulheron-summers" S Mulheron-summers Ifrom 191101251 R Srnith. M Tebb-Roger' S Tebb-Roger C Thornton J Thornton * Lea￿e￿hIp Team Under 18 so not a Trvstee DECLARATIONS Tt¢asurer I confjmi thai Ih8se arnual to*d the Church 2nd that tJ)ey all ftmd$ nderthe cwlrol ofthe SwJnatLwe of Tfgawrer of TrEasuETT ¢Jre$8 Pr•sentstion to th• Church Councll lor approval. I confirn Ihatthe anftual reFrytand eAthI 31 Ws12025 Kwesented to the ChJTch Cow¢iE at Ns Med¥￿ 12103r2026 and were approvod. Signature of Ihe Chwof meeting Rev Julia Reld Date INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PENRITH METHODIST CHURCH Itht 'charity'l I report to the char ty TrJstees on my examInat￿n ol the accoun1¢ oi the charity fw the year ended 31 August 2025 RESPONSIBILITIES AND 8ASIS OF REPORT As the Trusiees of the ¢hanty. you are responsilje for the ￿eparatIon of the a(£ounls in accordance with the requirements of the Charitses Act 2011 I'the 2011 ACYI. I report in respect of my examination of the charl￿S accounts carried out under section 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commtssion under section 145(5Xbl of the 2011 ACL INDEPENDENT EXAMINER'S STATEMEKr I have (x)mpleted my examination. l ¢an Confimi that no matters have CO￿ to my attention in connection with the examination gNing me cause to beI￿ve thal in any malerk81 fesp&X: accounting records were not kept in respect of the tharity as required by se¢iion 130 of the 2011 Act.. or the acccmjnts do not acawd ItrK)se records: c the accounts do not comply with the applui4e requirements concerning the form arKI content of accounts set out in the Charities IA(xyxJnts and Rep￿ts) Regulations 2008 other than any requirement that the accounts gNe a 'true and fairf view which is not a matter considered a5 part of an independent examination. I have corK*ms and have come xr055 r¥) other matters in COnr￿lOn th the examination to which attention should be drawn in this report In order to enabte a proper understaNling of the accounts to be reached. This report is made solety to the Charit￿S Trustees, as 3 body, in acCOrdar￿ Iwth Part 4 of the Ch8rilies {Accounts and Reports) Regulations 2008. My work has been undertaken $0 that I might stsle lo the charitys Tru51ees those matters l am required to stste to them in an Independent Examinerfs report and for no other purpose. To the fvllest exlenl pemitted by law. I do not ￿cept ¢x assume responsibil*ty to anyone other than the charity and the charitys TTUStees as a body. for my work or for this report. Dated: S 2D2G Signed.. Karen Rae FCCA DChA Armstrong Watson LLP C8rlisle