Charity registration number:
1127642
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THE METHODIST CHURCH
STANDARD FORM OF ACCOUNTS ACCRUALS BASIS for the Year Ended 31 August 2021
Piymouth Methodist Central Hall
Ministers
Rev. G Higgs Deacon Linda Brown (Resigned 31 August 2021)
Lay Pastor
Jonny Libby {Appointed 1 September 2021)
Church Stewards
Nigel Morris John Stephens Julle Morris Gill Roife Paul Courtney Mark Haydon Elis Norton
Church Treasurer
Vivienne Jordan
Piymouth Methodist Central Hall
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|Page|
|Trustees’|Report|(including|reference|and|administrative|detalls)|1-6|
|Consolidated|Statement|of financial|activities|7|
|Consolidated|Balance|Sheet|8|
|Church|Balance|Sheet|9|
|Notes|to the|financial|statements|10-18|
|Declaration|19|
|Independent|examiner's|report|20|
|The following|page does|not form|part|of the|consolidated|financlal|statements|
|Detaled|income and|expenditure|account for the|church|21-23|
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Plymouth Methodist Central Hall Trustees’ Annual Report
Introduction
The Trustees have the pleasure in presenting their report and the financial statements of the charity for the year ended 31 August 2021,
Reference and administrative Information
Legal status
The official name of the charity is Plymouth Methodist Central Hall. The charity's registration number Is 1127642. The registered address is:
Eastlake Street
Plymouth PL1 1BA
Methodist Churches are charities and as such are subject to the provisions of the Charttles Act 2011 and the accounts have to be prepared in line with the regulations made under the Act.
Public Benefit
The Trustees confirm that they have complied with the duty in Section 17(5) of the 2011 Charities Act to have due regard to guldance published by the Charity Commission relating to public benefit.
The Trustees
The Trustees who served the charity during the period were as follows:
V Jordan Treasurer Rev. G Higgs Chairman AJ Stephens GHHom | Hodgins H Mitchell A De Viell N J Morris B Westlake M D Haydon (Appointed 1/1/21) L Sharp P Courtney (Appointed 1/1/21) M Coutts E Norton (Appointed 1/1/21) A Alexander L Stewart (Appointed 1/1/21) H M Robins C Paterson (Appointed 1/9/21) J Morris CA Jago {Appointed 1/9/20) M Jenner C Hodgins (Appointed 1/1/21) C Smith JM Stephens P Horn G Rolfe
Advisors
Other relevant organisations acting on behaif of the charity are as follows:
:
Bankers: Lloyds TSB Bank Pic 8 Royal Parade Plymouth Plt 1HB
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Ptymouth Methodist Central Hall
Trustees" Annual Report
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Solicitors Gill Akaster 25 Lockyer Street Plymouth PLi 2QW
Accountants Prydis Accounts Limited The Parade Liskeard ; Comwall PL14 6AF
Objectives and activitles
Objectives of the Charity
The objective of the Church Is to offer the love of God in word and deed to all those who will accept It This is to be achleved through the document ‘Local Church Constitution and Practice’.
Dotalis of related partles and objectives.
Plymouth Methodist Central Hall has a quast-subsidiary, PMCH Developments, the objective of which is to provide Evangelical Outreach in an Informal atmosphere. It achieves this by operating a walk-in cafeteria, called the Discovery Café. The Church wil subsidise this operation if necessary.
The Central Hall continues to offer a broad spectrum of weekly activities, ranging from Parent and Toddler Groups to Young Adult groups, over and above those of worship that fle at the heart of Central Hall’s ministry.
Structure, governance and management.
Organisational Structure
The Charity Is run from the Methodist Central Hall, Eastlake Street, Plymouth. The church is responsibis to the Plymouth Methodist Mission Circult
The goveming document of the charity Is the Constitution of thea Church Council. The Trustees are the members of the Church Council, and are appointed annually with the Trustee meetings held three times each year.
Appointment of Trustess
Trustees are appointed at the Annual General Church Meeting.
Risk management
Under the terms of the risk management policy adopted by the charity, the strategic, operational and financial risks to which the charity is exposed are evaluated on a continulng basis and appropriate systems put Into place to mitigate any major risks identified. The Trustees are satisfied that the policy of continual monitoring of potential risks to which the charity is exposed Is sufficient to identify those risks on a timely basis and to ensure that the appropriate action may be taken so as to minimise the percelved risk to an acceptable level.
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Plymouth Methodist Central Hall Trustees’ Annual Report
Achievements and performance
Plymouth Methodist Central Hall, at the heart of Plymouth City Centre continues to be a vibrant, active and dynamic church community committed to serving the city in a variety of ways.
Building on the work of establishing core values In the previous year, the church have agreed and adopted (with our circuit) our vislon of being a ‘healthy church that transforms the world’, This Is achieved by seeking to increase and deepen our discipleship, fellowship, prayer, faith in action, worship and evangelism, based on a reading of Acts 2:4247.
The Church put an emphasis on ‘discipleship’ and ‘fellowship’ for the year with the establishment of a number of inspire discipleship groups and the hosting of ‘the Bible course’ online during February and March 2021.
The continuing pandemic hindered our work greatly, limiting the amount of time that church premises could be open to the public. However, our digital work online continued to prove to be a success and contined to engage a range of people. With grant and funding from the clrcult we wre able to Invest in our equipment and employ a Digital Operations Worker who significantly enhances our work.
Churchactivitiesbased Include:
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¢ The Discovery Café is open Monday to Saturday and also hosts church and other events In the evenings ¢ The Prayer Chapel ls open each working day as a place for private reflection and prayer, as well as before both Sunday worship services.
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Totstop toddler group on Monday and Thursday for 0-4 year olds with their parents / carers, with the numbers now exceeding capacity.
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« The Soft Play Café is open Tuesday to Saturday for 0-8 year olds.
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® Friday night youth club provides a place of welcome, support and activities for young people who come into the city centre, many of whom come from challenging backgrounds. This is supported by other statutory agencies.
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e Arrows for 4-11 year olds on Thursday evenings.
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¢ Messy Church welcomes over 100 children and adults once a month on a Saturday moming.
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e Bible Study meetings for adults on Tuesday afternoon and evening and for teenagers on Monday
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Regular social events for the church family and friends at and beyond the church premises.
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« Knit and Natter and other craft group meets weekly.
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e Online worship and discipleship groups.
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Courses about Christian faith and prayer groups meeting online.
There are a number of established Home Group fellowships across the city and beyond, and a church-based Men's Group, to enable members and associates to grow thelr Bibilcal and fellowship journeys.
Central Hall is also responsible for the Methodlst presence In the University of Plymouth Chaplaincy Team and works closely with the Christian Unlon.
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Plymouth Methodist Central Hall Trustees” Annual Report
Financial Review
.
Income
Offerings and donations are down on the previous year, as were Gift Day receipts and Gift Ald. Rental Income was also lower, mainly due to reduced property rental values In the city centre.
An Allchuches grant of £12,500 was recelved toward the cost of enabling us to upgrade our digltal facilitles anc employ a Digital Operations person. We also received a £7,237 grant from the clrcult towards this, with the res of the cost being borne by the church.
Reimbursements & Sundry Income Is higher than In the previous year because It Includes £8,426 which has been transferred from the refurblshment fund to the general fund.
Expenditure
Salaries - These are lower than the previous year because there was one fewer staff member. As in the previous year, the church was close for several months and many of the staff were on partial furlough. The chuch received £19,698 from the Government furlough scheme In the year,
Other expenditure such as youth work, worship and evangelism, utilities, printing and stationery were also lower than the previous year due to the church belng closed for a longer period than it was in the previous year
Most of the software costs were paid for by the grants we received, as mentioned above.
Professional fees were considerably higher than in the previous year. Included In the total is an amount of £16,215 that was pald to Blake Morgan solicitors for the lease on 2 Comwall Street. Also, £3,480 was paid to Stratton Creber for various property valuations.
Going concern
Based on the monetary assets and human resource available at 31 August 2021, the Trustees believe that the church is a going concem.
Investment policy
In accordance with the charity's governing document the Trustees have the power to invest funds in any investments that they see fit. The policy is to adopt a low risk strategy whilst maximising retums. The Trustees are satisfied with the performance of the investments held and that the policy adopted remains adequate and appropriate.
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The reserves policy for the General Fund Is as follows:
Plymouth Methodist Central Hall Trustees’ Annual Report
Reserves Policy
The church alms to hold a reserve of suffickent unrestricted and undeslignated funds to cover six months expenditure - approximately £140,000. The reasons for this are:-
-
1) The church needs approximately one month's average expenditure In reserve as working
-
1 capital to cover normal running costs.
-
2) Maintenance costs, salaries and circuit assessments are spent In advance of being raised, hence the need for a further five months reserve money.
.
Actual unrestricted undesignated funds at year end are £123,109 (2020: £105,708), of which £123,109 Is free raserves (2020: £100,774).
The Trustees will also continue to set aside as designated funds such amounts as are appropriate to provide for all charitable requirements.
Plans for future perlods
The Frustess do not expect any changes to the charity's objectives and charitable activities in the forthcoming year, their alm will be to continue to provide an essential and valued service In the community.
The annual report was approved by the Trustees of the Charity on 28/2 )ax., and signed on Its behalf by:
sansenncersnerenerereded Mascenerasdbes wae, Ror. Rev. G Higgs Mrs V Jordan Trustee Trustes
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Ptymouth Methodist Central Hall Trustees" Annual Report
Statement of Trustees’ Responsibilities
The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period, {n preparing these financial statements,the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles In the Charities SORP;
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make Judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explalned in the financial statements; and
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prepare the financial statements on the golng concern basis unless it ls Inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial postition of the chartty and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charitles (Accounts and Reports) Regulations, and the provisions of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities.
Approved by the Trusteesof the Charlty on 2efrfr, and signed on Its behalf by:
Rev. G HI ; Trustee
Mrs V Jordan Trustee
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Plymouth Methodist Central Hall
Consolidated Statement of Financial Activities (SOFA) for the Year Ended 31 August 2021
| Note | Unrestricted funds |
Restricted funds |
=Total2021 | Unrestricted funds |
Restricted funds |
(otal2020 | ||
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | £- | |||
| Income and Endowments | ||||||||
| Donationsand legacies Othercharitable Income |
2 3 |
230,887 246,653 |
- - |
230,887 246,653 |
210,401 279,917 |
- - |
210,401 279,917 |
© |
| Interestand Investmentincome | 4 | 137 | 5 | 142 | 355 | 12 | 367 | |
| Total Incomeandendowments | 477,877 | 5 | 477,682 | 490,673 | 12 | 490,685 | ||
| Expenditure on charitable activities | ||||||||
| Salariesandassociated costs | 7 | 80,315 | - | 80,315 | 84,805 | - | 84,805 | |
| Clrcultassessments Office epenses |
115,000 22,362 |
“ - |
115,000 22,362 |
122,000 27,557 |
- - |
122,000 27,557 |
||
| Propertymaintenance Depreciation Otherexpenditure |
11 8 |
7,737 21,670 194,682 |
- 3,167 5 |
7,737 24,837 194,687 |
8,476 22,790 188,310 |
- 3,167 {2 |
8,476 25,957 488,322 |
|
| Grantsanddonations | 9 | 42,029 | - | 42,029 | 45,806 | - | 45,806 | |
| Total charitableexpenditure | 483,795 | 3,172 | 486,967 | 499,744 | 3,179 | 502,923 | ||
| Netincome/(expenditure)foryear | (6,118) | (3,167) | (9,285) | (9,071) | (3,167) | (12,238) | ||
| Transfers between funds | - | - | - | - | - | - | ||
| Netmovement Infunds | (6,118) | (3,167) | (9,285) | (9,071) | (3,187) | (12,238) | ||
| Reconelllatlon offunds | ||||||||
| Totalfundsbroughtforward Totalfundscarriedforward |
2,065,323 216,452 2,281,775 2,059,205 213,285 2,272,490 ee) |
2,074,394 219,619 2,294,013 2,065,323 216,452 2,281,775 IaEaaICICyCoyIyyyyyIy—L———————EEE—EE |
All of the Chartty’s activities derive from continuing operations during the above two periods.
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Plymouth Methodist Central Hall
Consolidated Balance Sheet as at 31 August 2021
| Unrestricted Funds | Unrestricted Funds | ||||||
|---|---|---|---|---|---|---|---|
| General | Designated | Resticiee | Total2021 | ‘Total2020 | |||
| Notes | £ | £ | £ | £ | £ | ||
| Fixed Assets | |||||||
| Tanglole fixedassets | 11 | 11,068 | 657,563 | 145,667 | 814,299 | 839,134 | |
| Investmentproperties | 12 | - | 1,250,000 | - | 1,250,000 | 1,250,000 | |
| Totalfixed assets | 11,069 | 1,907,563 | 145,667 | 2,064,299 | 2,089,134 | ||
| Current Aasets | |||||||
| Stock Debtors |
13 14 |
550 33,629 |
- - |
- - |
550 33,629 |
550 41,154 |
|
| Loanstothe Circult Invesiments withTMCP |
14 15 |
- 40,050 |
- - |
64,608 1,439 |
64,608 41,489 |
64,608 41,435 |
|
| CashatBankand Inhand Totalcurrentassets |
16 | 48,220 122,449 |
28,533 28,533 |
1,571 87,618 |
78,324 218,600 |
52,645 | |
| Current llabilities | |||||||
| Creditors(due inunder1 year) TotalcurrentllabHities |
17 | 10,409 10,409 |
-. - |
- “ |
10,409 10,409 |
7,751 7,751 |
|
| Netcurrentassots | 112,049 | 28,533 | 67,818 | 208,191 | -7,751 | ||
| Not assets | cent | 23,109 | 1,936,096 | 213,285 | 2,272,490__ | 2,081,383 | |
| Funds ofthe Church | |||||||
| General Fund (Unrestricted) | 18 | 123,109 | - | - | 123,109 | 105,709 | |
| Designated Funde (Unrestricted) | 18 | - | 1,936,096 | - | 1,936,096 | 1,959,614 | |
| Total Unrestricted Funds | 123,109 | 1,936,056 | . | 2,059,205 | 2,065,323 | ||
| Resticted Funds | 19 | - | - | 213,285 | 213,285 | 216,452 | |
| TotalFunds |
The financlal statements were approved by the Board and authorised for Issue on A) ol and signed on its behalf by:
Rev. G JH Trustee
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Plymouth Methodist Central Hall
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Church Balance Sheet as at 31 August 2021
| UnrestrictedFunds | UnrestrictedFunds | ||||||
|---|---|---|---|---|---|---|---|
| General | Designated | Restricied | Total2021 | ‘Total2020 | |||
| Notes | £ | £ | £ | £ | £ | ||
| FixedAssets | |||||||
| Tangiblefixed assets Investment properties |
11 12 |
8,924 - |
657,563 1,250,000 |
145,687 - |
812,154 1,250,000 |
836,487 1,250,000 |
|
| Total fixed assets | 8,924 | 1,907,563 | 145,667 | 2,062,154 | 2,086,487 | ||
| CurrentAssets | |||||||
| Debtors | 14 | 71,712 | - | - | 71,712 | 84,115 | |
| Loanstothe Circuit InvestmentswithTMCP |
14 15 |
- 40,050 |
- - |
64,608 1,439 |
64,608 41,489 |
64,808 41,435 |
|
| Cash atBankand inhand | 16 | 9,061 | 28,533 | 1,571 | 39,165 | 38,310 | |
| Totalcurrentassets | 120,823 | 28,533 | 67,618 | 216,974 | 226,468 | ||
| Current liabilities | ‘ | ||||||
| Creditors(dueinunder1 year) Totalcurrent liabilities |
17 | 8,746 8,746 |
- - |
- “ |
8,746 8,746 |
6,813 6,813 |
|
| Netcurrentassets | 112,077 | 28,533 | 67,618 | 208,228 | 219,655 | ||
| Not senate | |||||||
| Funds ofthe Church | |||||||
| General Fund (Unrestricted) | 18 | 121,001 | - | ~ | 121,001 | 130,076 | |
| Designated Funds (Unreatricted) TotalUnrestrictedFunds |
18 | 121,001 | 1,938,096 1,936,096 |
- | 1,936,098 2,057,097 |
1,959,614 2,089,690 |
|
| RestrictedFunds | 19 | - | - | 213,285 | 213,285 | 216,452 |
,
The financial statements were approved by the Board and authorised for iasue on 2a lefer and signed on Its behalf by:
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TrustesRev. G JWV
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Plymouth Methodist Central Hall
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Notes to the Financlal Statements for the Year Ended 31 August 2021
1 Accounting framework and accounting policies
Accounting framework.
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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102) and the Charities Act 2011.
Basis of preparation
The Plymouth Methodist Central hall meets the definition of public benefit entity under FRS 102. Assets and liabilities are Initlalty recognised at historical cost or transaction value unless otherwise stated In the relevant accounting policy notes.
Funds
Unrestricted undesignated funds are general funds available for use at the discretion of the Trustees In furtherance of the general objectives of the charity and which have not been designated for any other purpose.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The alm and use of each designated fund Is set out In the notes to the flnanclal statement.
Restricted funds are funds which are to be used In accordance with specific restrictions Imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund Is set out In the notes to the financial statement.
Judgements and key sources of estimation uncertainty
In the application of the Trust’s accounting polictes, which are described in this note, the Trustees are required to make Judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historically known factors and experience. Therefore, the Trustees do not perceive there to be any critical areas of judgement or key sources of estimation uncertainty in the formulation of the financlal statements.
Basis of consolidation
The consolidated financial statements comprise the financial statements of Plymouth Methodist Central Hall and PMCH Developments as at the balance sheet date. PMCH Developments is a company IImited by guarantee and registered in England & Wales. PMCH is consolidated on the basis that membership of the company Is controlled by the Plymouth Methodist Central Hall.
Golng concern
Based on the monetary assets and human resource avallable at 31 August 2021, the Trustees believe that the church Is a going concern.
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Plymouth Methodist Central Hall
;
Notes to the Financlal Statements for the Year Ended 31 August 2021
Income recognition Income Is included In the Statement of Financial Activites when the Church becomes entitled to the Income, it Is more likely that the income will be received and the monetary value can be measured with sufficient reliability. In accordance with the Charities SORP (FRS 102), the time of volunteers is not registered.
Expenditure This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilitles are recognised as soon as an outflow of economic benefit fs considered more likely than not under the legal or constructive obligation committing the Church to pay out resources,
VAT
Since the church is not VAT registered, all input VAT Is charged with the expenses to which Is refers.
Tangible fixed assets
These are capltalised if they can be used for more than one year, and individually cost at least £500. They are Initially recorded at cost, less any subsequent accumulated depreciation and impalrment losses. Depreciation Is provided on tangible fixed assets so as to write off the cost over their expected useful economic life as below:
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|---|---|---|---|---|---|
|Asset|class|Depreciation|method|and|rate|
|Church|Improvements|2%|straight line|
|Plant and equipment|15|- 25%|reducing|balance|
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Investments Fixed asset Investments are initially valued at cost and subsequently at fair value (their market value at the year end).
Stocks
Stocks held for resale are measured at the lower of cost or net realisable valus.
Financial instruments
Classification
The company holds the following financial Instruments:
-
Short term trade and other debtors and creditors; and
-
Cash and bank balances. All financial instruments are classified as basic.
Recognition and measurement
;
The charity has chosen to apply the recognition and measurement principles In FRS102. Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument and derecognised when In the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of llabilities, when the charity's obligations are discharged, expire or are cancelied.
These instruments are initially measured at transaction prica, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be pald or received, after taking account of impalrment adjustments.
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Ptymouth Methodist Centraf Hall
Notes to the Financtal Statements for the Year Ended 31 August 2021
. :
| 2 Donations and legacies | ||||||||
|---|---|---|---|---|---|---|---|---|
| Unrestrictedfunds | Restricted | Total Funds | Unrestrictedfunds | Restricted | Total Funds | |||
| General Designated |
Funds | 2021 | General | Designated | Funds | 2020 | ||
| £ £ |
£ | £ | £ | £ | £ | £ | ||
| Donations 33,120 - GiftAld 25,245 - |
- - |
33,120 25,245 |
22,963 28,702 |
- - |
- - |
22,963 28,702 |
||
| Offerings 126,119 - |
- | 126,119 | 126,329 | - | - | 126,329 | ||
| CJRSgrant 46,403 - |
- | 46,403 | 32,407 | - | - | 32,407 | ||
| 3 Other charitable Income | ||||||||
| Unrestrictedfunds | Restricted | TotalFunds | Unrestrictedfunds | Restricted | Total Funds | |||
| General Designated |
Funds | 2021 | General | Designated | Funds | 2020 | ||
| Incomefrom £ £ |
£ | £ | £ | £ | £ | £ | ||
| Church Org. - 34,958 |
- | 34,958 | 1,929 | 49,961 | - | 51,890 | ||
| Café 93,744 - |
- | 93,744 | 106,837 | - | - | 106,837 | ||
| Lettings 111,501 - |
- | 111,501 | 110,619 | - | - | 110,619 | ||
| SoftPlay 6,450 - |
- | 6,450 | 10,571 | - | - | 10,571 | ||
| 4 Investment Income | ||||||||
| Investment income includes bank interest received. | ||||||||
| 5 Other Income | ||||||||
| OtherIncome Includes incomefrom special events | and | othersundryreceipts. | receipts. | |||||
| 6Trustees’ remuneration and expenses | ||||||||
| During the year, Trustees recelved remuneration totalllng ENil (2020: | ENil). No benefits in kindwere recelved byTrustees. | |||||||
| One oftheTrustees ofthe Charity is remunerated | through the Plymouth MethcdistMission | Mission Circuit. | ||||||
| No expenseswere repaid to Trustees, | ||||||||
| 7 Salaries and associated costs | ||||||||
| Gross salaries paid to employees were asfollows: | 2021 | 2020 | ||||||
| £ | £ | |||||||
| Gross pay | 136,061 | 162,426 | ||||||
| Employer's National Insurance contributions | 6,518 | 7,787 | ||||||
| Employer's pensioncontributions to defined contribution schemes Totalstaffcosts(unrestrictedfunds) Less -amounts presented Inotherexpenditure Salartesandassoclated costs |
5,746 146,325 (68,010) 80,315 |
5,966 176,149 (91,344) 84,805 |
||||||
| No employees received emoluments ofmore that£60,000 | £60,000 (2020: none). Noremuneration was recelved bythe key | |||||||
| management personnel ofthe charity. | ||||||||
| Particulars ofemployees: | ||||||||
| Theaverage numberofstaffemployed bythe charityduring theyearamounted to: | ||||||||
| 2021 | 2020 | |||||||
| No. | No. | |||||||
| Numberofstaff | 16 | 22 |
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:
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Plymouth Methodist Central Hall
Notes to the Financial Statements for the Year Ended 31 August 2021
Pensions
The church operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the church to the scheme and amounted to £5,968 (2020: £5,986).
;
8 Other expenditure
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||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Unrestricted funds|Restricted|Total|Funds|Unrestricted funds|Restricted|Total|Funds|
|General|Designated|Funds|2021|General|Designated|Funds|2020|
|£|£|£|£|£|£|£|£|
|Phone|3,311|-|-|3,311|2,572|-|~|2,572|
|Printing|&|.|.|.|.|
|Statlonery|5,734|5,734|7,788|7,768|
|Cleaning|10,049|-|-|10,049|7,183|-|-|7,183.|
|Organ costs|788|~|-|786|591|-|-|591|
|Minibus|Hire|264|-|-|264|258|-|-|256|
|Bank Charges|418|-|5|423|824|-|~|824|
|Advertising|-|-|-|-|665|-|~|665|
|Café|cosets|91,546|-|-|91,546|105,359|-|-|105,359|
|Sundry costs|4,235|-|-|4,235|5,997|-|42|6,009|
|Expenditure|
|for Church|-|40,|2|95|-|40,295|48,046|-|4B,8,046|
|Independent|
|examiner|2,000|-|-|2,000|2,420|-|-|2,420|
|accountancy fee|
|Independent|.|.|.|.|
|examination fee|1,000|4,000|1,000|1,000|
|Software|14,123|-|-|14,123|-|-|-|5 829|
|Professional|fees|20,921|-|-|20,921|5,829|-|-|,|
|(See below)|orc|tt|
|Total|40205 ec|a|BT|140,264|48,048 2188,322|
|Professlonal|fees|
|2021|2020|
|Professional fees|(Stratton|Creber and|Blake|Morgan|LLP)|;|19,695£|5,629£|
|Total|19,695|5,629|
|9|Grants|and|donations|
|Unrestricted funds|Restricted|Total|Funds|Unrestricted funds|Restricted|Total|Funds|
|General|Designated|Funds|2021|General|Designated|Funds|2020|
|Youth|£|£|£|£|£|£|£|g£|
|Flats|3,361|-|-|3,361|10,537|-|-|10,537|
|Evangellsm|61|,3|9248|-|-|61|,3|9248|21|,|161854|”-|-|21|,|161854|
|Worship Team|728|-|-|728|937|-|-|937|
|Other small grants|30,200|-|-|30,200|30,317|-|-|30,317|
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13
Plymouth Methodist Central Hall
Notes to the Financial Statements for the Year Ended 31 August 2021
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10 Subsidlary undertaking
The charity has a quasi subsidiary, PMCH Developments, a company registered in England and Wales which undertakes trading activities. Registered office is Plymouth Methodist Central Hall, Eastlake Street, Plymouth, PL2 1BA. The charity has control as three of the Trustees of the chartty are Directors of the company but receive no remuneration.
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|---|---|---|---|---|---|---|
|2021|2020|
|£|£|
|Aggregate assets|41,850|19,842|
|Aggregate|llabiltties|(39,747)|(44,212)|
|Aggregate funds|2,103|(24,370)|
|Turmover|120,449|106,837|
|Expenditure|(93,976)|(91,263)|
|Profit/(Loss)|for the year|26,473|15,574|
|11|Tangible|Fixed Assets|- Group|
|Church|Church|Plant &|
|tmprovements|improvements|Equipment|
|(Designated)|(Restricted)|(Unrestricted)|Total|
|£|£|£|£|
|Cost or valuation|
|As|1|September 2020|909,054|158,335|79,740|1,147,129|
|Additions|“|-|-|0|
|At 31|August 2021|909,054|158,335|79,740|1,147,129|
|Depreciation|
|As at|1|September 2020|233,310|9,501|65,181|307,992|
|Charge for the year|18,181|3,167|3,490|24,838|
|At 31|August 2021|251,491|12,668|68,671|332,830|
|Net|book vajue|
|At 31|August 2020|675,744|148,834|14,559|839,137|
|Tangible|Fixed Assats|- Church|
|Church|Church|Plant &|
|Improvements|Improvements|Equipment|
|(Designated)|(Restricted)|(Unrestricted)|Total|
|£|£|£|£|
|Cost|or valuation|
|As|1|September 2020|909,054|168,335|55,856|1,123,245|
|Additions|-|-|-|-|
|At3t|August 2021|909,054|158,335|55,856|1,123,245|
|Depreciation|
|As at|1|September 2020|233,310|9,501|43,947|286,758|
|Charge|for|the year|18,181|3,187|2,985|24,333|
|At31|August 2021|251,491|12,668|46,932|311,091|
|Net book value|
|At 31|August 2021|657,563|145,667|8,924|812,154|
|At3t August 2020|—|[836.487]|
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Plymouth Methodist Central Hall
Notes to the Financial Statements for the Year Ended 31 August 2021
12 Investments
Falr value as at 1 September 2020 and 31 August 2021
Historical cost
Investment Properties
£ 1,250,000
736,068
The investment property is a complex of shops and cafes.
The fair value s based upon the Trustees’ best estimate and not the opinion of an independent valuer.
| 13Stock | ||||
|---|---|---|---|---|
| Church 2021 2020 |
Group 2021 |
2020 | ||
| £ | £ | £ | £ | |
| Stock | ” | - | 550 | 500 |
| 14 Debtorsand prepayments | ||||
| Church | Group | |||
| 2021 | 2020 | 2021 | 2020 | |
| Prepayments andaccrued Income | £ | £ | £ | £ |
| ClroultreManses | 64,608 | 64,608 | 64,608 | 64,608 |
| Prepaidassessments Amounts owed bygroup undertakings |
18,850 38,084 |
28,750 43,274 |
18,850 - |
28,750 - |
| Otherprepayments | 2,933 | 2,767 | 2,933 | 3,080 |
| Accrued Income Total |
11,845 136,320 |
9,324 148,723 |
11,846 98,237 |
9,324 105,762 |
15 Trustees for Methodist Church Purposes
The funds that support the church and various other 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, Endowrnents and Accumulated Funds. Trust property ts held for and on behalf of local Managing Trustees who are responsible for the day to day management of the trust property. TMCP ensure that, through providing guidance and acting under thelr direction, the managing Trustees comply with the charity law and Methodist law and policy as determined by the Methodist conference.
16 Central Finance Board (CFB) and Cash at Bank
The church has current and deposit accounts at Lloyds Bank, an authorised Institution. The sums held on these accounts are Immediately available. In addition the church has a COIF Charities Deposit Fund. Interest is earned on this account and credited quarterly; the sums deposited can be withdrawn without notice and without loss of Interest. These sums are viewed as being liquid.
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Ptymouth Methodist Central Hall
Notes to the Financial Statements for the Year Ended 31 August 2021
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17 Creditors: Amounts falling due within one year
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2021Church 2020 2021Group 2020
£ £ £ £
Other Creditors 5,368 2,754 6,121 2,792
Accruals 3,388 4,059 4,288 4,959
Total 8,746 8,813 10,409 7,751
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It ls expected that all accruals and other creditors as at 31 August 2021 will be paid during the year to 31 August 2022.
Deferred income relates to rental income which Is paid in advance.
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|---|---|---|---|---|---|---|---|
|2021|2020|
|£|£|
|Deferred|income|brought forward|-|-|
|Accrued Income brought forward|(6,500)|(534)|
|Rental|Income|received|in|the|year|106,155|101,829|
|Deferred|Income|carried|forward|-|-|
|Accrued|Income|carried|forward|11,846|6,500|
|Rental income recognised|in the year|111,501|107,795|
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18 Unrestricted Funds
General Fund
The purpose of the fund is for use at the discretion of the Trustees in the furtherance of the general objectives of the church and which have not been designated for other purposes.
Deslgnated Fund
Designated funds include the investment property of £1,250,000 which Is held to generate income for the church.
Income and expenditure for the church organisations are included in the bank accounts. However, each group or service run by Plymouth Methodist Central Hall has separately identifled funds and therefore they are treated as designated funds.
Church improvements relate to the net book value of Church improvements within the balance sheet. These Include the costs of redevelopments over the years and historical improvements which have been transferred from general funds as they are not Iiquid assets.
Worship facilities relate to funds that have been transferred to designated funds to cover the ongolng costs of repairing and renewing the music Infrastructure and to upgrade the power point and cabling system.
19 Restricted Funds
‘
The Reg Walker Memorial Fund is restricted as it is for the purchase of books for theological training only.
Also included within Restricted funds is the amount due from the Circuit in respect of the value of the manse property that was transferred from Fixed Assets during the year ending 31 August 2013. There are no plans to dispose of the property In the near future.
The Hall Refurbishment restricted funds were to be used for the refurbishment of the Methodist Hall.
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|---|---|---|---|---|---|---|---|
|Plymouth|Methodist|Central|Hall|
|Notes to|the|Financial|Statements|
|for the Year Ended|31|August 2021|
|20|Analysis|of funds|~ Group|
|Balance as at|=|Incoming|Outgoing|Balance as at|
|Unrestricted|Undesignated|01/09/2020|Resources|Resources|Transfers|31/08/2021|
|P MC|H Developments|(24,370)|120,449|(99,166)|-|(3,087)|
|Future|Developments|Fund|24,870|-|-|-|24,870|
|General funds|105,209105,709|442,719322,270|(425,31326,153~|--|123,109101,326|
|Unrestricted|Designated|
|Investment property|1,250,000|-|-|-|1,250,000|
|Funds|held|on|behalf|of:|
|Church organisations|22,085|34,958|(40,295)|-|16,748|
|Church|improvements|675,742|-|(18,181)|-|657,561|
|Worship|facilliles|11,787|-|-|-|11,787|
|7,959,614|34,958|-|58,476|-|7,936,006|
|Restricted|funds|
|Reg Walker Memorial|Funds|1,448|5|(5)|-|1,448|
|Hail|Refurbishment|150,396|-|(3,167)|-|147,229|
|Debtor|re Manse|Property|84,608|-|-|-|64,608|
|Balance as|at|Incoming|Outgoing|Balance|as|at|
|Unrestricted|Undesignated|01/09/2019|Resources|Resources|Transfers|31/08/2020|
|PMC|H|Developments|(39,944)|124,195|(108,621)|-|(24,370)|
|Future|Developments|Fund|24,615|336|(81)|-|24,870|
|General funds|110,636119,046|440,712316,181|ae321,6080)|--|105,709105,209|
|Unrestricted|Designated|
|Investment|property|1,250,000|-|-|-|1,250,000|
|Funds|held|on|behalf|of:|
|Church organisations|20,170|49,961|(48,046)|22,085|
|Church|improvements|693,923|-|(18,181)|-|675,742|
|Worship facllitles|7,979,08714,994|49,961-|omen3,207|--|7,959,61411,787|
|Restricted funds|
|Reg Walker Memorial|Funds|1,448|12|(12)|-|1,448|
|Hall|Refurbishment|153,563|-|(3,187)|-|150,396|
|Debtor re Manse Property|64,608|-|-|-|64,608|
|Total|Funds|
|The|movement|In funds for the|Charity only excludes|the P M C H|Developments|fund|above.|
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Plymouth Methodist Central Hall
Notes to the Financial Statements for the Year Ended 31 August 2021
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21 Net assets by fund
Unrestricted Restricted Total funds Unrestricted Restricted Total Funds
funds Funds 2021 funds Funds 2020
£ £ £ £
Tangible assets 688,632 145,667 814,299 667,510 145,667 813,177
Fixed Investments 1,250,000 - 1,250,000 1,250,000 - 1,250,000
Current Assets 150,982 67,618 218,600 132,774 67,618 200,392
Creditors < 1 year (10,409) - (10,409) (7,751) ~ (7,751)
Net assets 2,059,205 213,285 2,272,490 2,042,533 213,285 2,255,818
22 Volunteer contributions
Every entity (Connexion, District, Circuit, Church) within the Methodist Church in GB is heavily rellant on volunteers who
contribute their skills, time and money In the furtherance work of the church. We are grateful to all of them for their help
and commitment. ,
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23 Related party transactions
P M C H Developments - A company Ilmited by guarantee (controlled by Plymouth Methodist Central Hall).
During the year the church paid expenses on behalf of the company totalling Enil (2020: £nil). At the year end the company owed the church £38,084 (2020: £43,274). Loans to the group undertakings are interest free and repayable on demand.
Plymouth Methodist Mission Circult
During the year the Charity provided clrcult assesments totalling £115,000 (2020: £122,000). At the year end the Mission Circuit owed to the Central Hall £64,608 (2020: £64,608). This debt is Interest free and repayable on demand.
There have been no other related party transactions In the reporting period that require disclosure.
24 Control
The Charity was under the control of the Trustees throughout the financial year.
25 Taxation
The Trust Is consklered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Trust is potentially exempt from taxation in respect of Income or capital gains recelved within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Galns Act 1992, to the extent that such income or galns are applied exclusively to charitable purposes.
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Plymouth Methodist Central Hall
Declarations and Scrutiny
| confirm that these accruals-based accounts for the year to 31 August 2021 have been prepared from the records of the Church and that they include all funds under the control of the Church.
Signature of Treasurer ¥ ©Qo Date 72€/2 /ee Nameof Treasurer V.A*’ 3 04 KAY Address of Treasurer 20 DeePAir/ $0 0A YEIADATH PLE BW!
Presentation to the Church Council
| confirm that the annual report and accounts for the year ended 31 August 2021 were, or will be,* presented to the meeting of the Church trustees held on
Signature of the Chalr of the meeting Oy 5 Name of the Chair ofthe meeting 2ceV €- HICESLo Date g je Ve
- delete or circle as approprate
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Independent Examiner's Report to the Trustees of the Piymouth Methodist Central Hall
| report to the charity Trustees on my examination of the accounts of the Group comprising the Plymouth Methodist Central Hall (the Trust) and its subsidiary undetakings for the year ended 31 August 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts In accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the Trust'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 Act.
Independent examiner's statement
Since the Charity's gross Income exceaded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. | confirm that | am qualified to undertake the examination because | am a member of the Institute of Chartered Accountants In England and Wales, which Is one of the listed bodies.
| have completed my examination. | confi that no maternal matters have come to my attention in connection with the examination giving me cause to believe that In any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records: or
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the accounts do not comply with the applicable requirements conceming 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 falr view which is not a matter considered as part of an independent examination.
4 the trustees’ annual report Is not consistent with the accounts
| have no concerns and have come across no other matters In connections with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be Signed: (| Date: Qalalana ol Name: Gary Randall ACA Address: - Prydis Accounts Ltd The Parade Liskeard Cornwall PL14 6AF
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Plymouth Methodlst Central Hall
for the Year Ended 31 August 2021.
The following page does not form part of the statutory consolidated financial statements.
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PLYMOUTH METHODIST CENTRAL HALL
DETAILED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2021
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|---|---|---|---|---|---|
|2021|2020|
|£|£|£|£|
|Income|
|Offerings|102,709|106,046|
|Grant|12,500|-|
|GiftGift Ald day donations;|25,24523,410|28,70229,718|
|Keyham funds|7,237|-|
|Rental|Income|111,501|121,274|
|Interest|142|96|
|Relmbursements and|sundry income|13,383|5,073|
|PMCH|Developments|93,744|106,837|
|Income from|Church|organisations|34,958|49,961|
|Soft|Play|6,450|10,571|
|CJRS|grant|46,403|32,407|
|Total Income|477,882|490,685|
|Direct|charitable expenditure|
|Youth|Work|3,361|10,537|
|Worship & evangelism|2,076|3,098|
|Grants|and donations|30,200|30,317|
|Wages and|salaries|80,315|84,805|
|Utilities|13,728|18,602|
|insurance|8,634|8,955|
|Repairs|and|maintenance|14,129|10,330|
|Circuit assessment|115,000|122,000|
|Minibus|Hire|264|256|
|Cleaning|10,049|7,183|
|Organ and|piano costs|786|591|
|Telephone|and|technology|costs|3,311|2,572|
|Postage and|petty cash|expenditure|658|1,033|
|Sundries|and|safeguarding|3,577|4,978|
|Printing|and|stationary|§,734|7,767|
|Advertising|-|665|
|Bank Charges|423|824|
|Software|costs|14,123|-|
|Expenditure|for church|organisations|40,295|48,046|
|PMCH|Developments|91,546|105,359|
|Depreciation|of fixed|assets|24,837|25,957|
|463,046|493,875|
|Management|and|administration|
|Accountancy and examination fees|3,000|3,420|
|Professional|fees|20,921|5,629|
|23,921|9,049|
|Total expenditure|486,967|502,924|
|Net surplus/(deficit} for the year|(9,285)|(12,239)|
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PLYMOUTH METHODIST CENTRAL HALL
CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2021
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|---|---|---|---|---|---|
|2021|2020|
|£|£|£|£|
|Income|
|Offerings|102,709|106,046|
|Grant|12,500|-|
|Gift Ald|25,245|28,702|
|Gift day donations|23,410|20,718|
|Keyham funds|7,237|-|
|Rental|income|111,501|121,274|
|Interest|142|96|
|Relmbursements|and|sundry income|13,383|5,073|
|PMCH|Developments|1,925|2,414|
|Income from|Church organisations|34,958|49,961|
|Soft Play|6,450|10,571|
|CJRS|grant|19,698|15,049|
|Total Income|359,158|368,904|
|Direct|charitable expenditure|
|Youth Work|3,361|10,537|
|Worshlp &|evangelism|2,076|3,098|
|Grants and|donations|30,200|30,317|
|Wages and|salaries|80,315|84,805|
|Utiities|13,728|18,602|
|Insurance|8,634|8,955|
|Repairs and maintenance|14,129|10,330|
|Circuit assessment|115,000|.|122,000|
|Minibus|Hire|264|256|
|Cleaning|10,049|7,183|
|Organ|and|piano|costs|786|591|
|Telephone|and technology costs|3,311|2,363|
|Postage and|petty|cash|expenditure|658|1,033|
|Sundries|and|safeguarding|3,577|4,978|
|Printing|and|stationary|5,734|7,767|
|Advertising|-|665|
|Bank Charges|423|824|
|Software|costs|14,123|-|
|Expenditure|for church|organisations|40,295|48,046|
|Depreciation|of fixed|assets|24,332|25,318|
|370,995|387,668|
|Management and|administration|
|Accountancy and|examination|fees|3,000|3,420|
|Professional fees|20,921|5,629|
|23,921|9,049|
|Total expenditure|394,91 6|396,717|
|Not surplus/(deficlt)|for the year|(35,758)|(27,813)|
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