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2022-08-31-accounts

Charity registration number:

1127642

THE METHODIST CHURCH

STANDARD FORM OF ACCOUNTS ACCRUALS BASIS for the Year Ended 31 August 2022

Plymouth Methodist Central Hall

Ministers

Rev. G Higgs

Lay Pastor

Jonny Libby

Church Stewards

Niget Morris John Stephens Julie Mortis Gill Rolfe Pau! Courtney Mark Haydon Elis Norton

Church Treasurer

Vivienne Jordan

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Plymouth Methodist Central Hall

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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 2022.

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 PLi 1BA

Methodist Churches are charities and as such are subject to the provisions of the Charities 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 guidance 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 A J Stephens GH Horn | 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 C A Jago (Appointed 1/9/20) M Jenner C Hodgins (Appointed 1/1/21) C Smith J M Stephens P Horn G Rolfe

Advisors

Other relevant organisations acting on behalf of the charity are as follows:

Bankers: Lloyds TSB Bank Plc 8 Royal Parade Plymouth Pli 1HB

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Plymouth Methodist Central Hall Trustees’ Annual Report

Solicitors Anthony Collins 76 King Street Manchester _ M2 4NH Accountants Prydis Accounts Limited The Parade Liskeard Cornwall PL14 GAF

Objectives and activities

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 achieved through the document 'Loca!l Church Constitution and Practice’.

Details of related parties and objectives.

Plymouth Methodist Central Hall has a quasi-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 will 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 lie 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 responsible to the Plymouth Methodist Mission Circuit.

The governing document of the charity is the Constitution of the 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 Trustees

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 continuing 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 perceived 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 vision 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 circuit we wre able to invest in our equipment and employ a Digital Operations Worker who significantly enhances our work.

Church based activities include:

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 their Biblical and fellowship journeys.

Central Hall is also responsible for the Methodist presence in the University of Plymouth Chaplaincy Team and works closely with the Christian Union.

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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 Aid. Rental income was also lower, mainly due to reduced property rental values in the city centre.

An Allchuches grant of £12,500 was received toward the cost of enabling us to upgrade our digital facilities and employ a Digital Operations person. We also received a £7,237 grant from the circuit towards this, with the rest 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 refurbishment 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 being 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 paid to Blake Morgan solicitors for the lease on 2 Cornwall 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 2022, the Trustees believe that the church is a going concern.

.

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 returns. The Trustees are satisfied with the performance of the investments held and that the policy adopted remains adequate and appropriate.

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Plymouth Methodist Central Hail Trustees’ Annual Report

Reserves Policy

The reserves policy for the General Fund is as follows:

The church aims to hold a reserve of sufficient unrestricted and undesignated funds to cover six months expenditure - approximately £140,000. The reasons for this are:-

Actuai unrestricted undesignated funds at year end are £133,367 (2021: £123,109), of which £133,367 is free reserves (2021: £123,109).

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 periods

The Trustees do not expect any changes to the charity's objectives and charitable activities in the forthcoming year, their aim 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 I 2]zs and signed on its behalf by:

Rev. G Higgs Trustee

Mrs V Jordan Trustee

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Plymouth Methodist Central Hall Trustees’ Annual Report

Statement of Trustees’ Responsibiiities

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 taw 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. in preparing these financial staternents,ine Trustees are required to:

« observe the methods and principles in the Charities SORP;

¢ make judgements and estimates that are reasonable and prudent;

The Trustees are responsible for keeping proper accounting records that disclose with reasonable -_ gecuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (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 Trustees of the Charity on 2af2f2.. and signed on its behalf by:

Rev. G Higgs Mrs V Jordan Trustee Trustee

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Plymouth Methodist Central Hall

Consolidated Statement of Financial Activities (SOFA) for the Year Ended 31 August 2022

Note Unrestricted
funds		 Restricted
funds		 ‘otabicliee Unrestricted
funds		 Restricted
funds		 Tptalzozt
£ £ £ £ £ £
income and Endowments
Donations and legacies 2 154,742 - 154,742 230,887 - 230,887
Othercharitableincome 3 386,397 ~ 386,397 246,653 - 246,653
Interestand investment income 4 194 7 201 437 5 142
Total incomeandendowments 541,333 7 541,340 477,677 5 477,682
Expenditure on charitable activities
Salariesand associated costs # 169,123 - 169,123 80,315 - 80,315
Circuitassessments 75,400 - 75,400 115,000 - 115,000
Office epenses 30,715 - 30,715 22,362 - 22,362
Propertymaintenance
Depreciation		 1 16,484
21,183		 -
3,167		 16,484
24,350		 7,737
21,670		 -
3,167		 7,737
24,837
Otherexpenditure 8 191,329 15 191,344 194,683 4 194,687
Grantsand donations 9 46,863 - 46,863 42,029 - 42,029
Total charitable expenditure 551,097 3,182 554,279 483,796 3,171 486,967
Net income/(expenditure) foryear (9,764) (3,175) (12,939) {6,119} (3,166) (9,285)
Transfers between funds 1,563 - 1,563 - - - -
Net movement infunds (8,201) (4,738) (12,939) (6,119) (3,166) (9,285)
Reconeillation offurids
Total funds broughtforward
Totalfundscarriedforward		 2,059,204
2,051,003		 213,286
208,548		 2,272,490
2,259,551		 2,065,323
2,059,204		 216,452
213,286		 = 2,281,775
2,272,490

All of the Charity'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 2022

. 3

Unrestricted Funds Unrestricted Funds Unrestricted Funds
General Designated e*icted =
Funds		 tata)2922 Total2021
Notes £ £ £ £ £
Fixed Assets
Tangiblefixed assets
Investmentproperties		 11
12		 22,927
~		 639,382
1,250,000		 142,500
-		 804,809
1,250,000		 814,299
1,250,000
Totaifixed assets 22,927 1,889,382 142,500 2,054,809 2,064,299
Current Assets
Stock
Debtors		 13
14		 550
26,277		 -
-		 -
-		 550
26,277		 550
33,629
Loanstothe Circuit 14 - - 64,608 64,608 64,608
investments withTMCP 15 40,124 - 1,440 41,564 41,489
Cash atBankand inhand 16 83,844 28,533 - 112,377 78,324
Total currentassets 150,795 28,533 66,048 245,376 218,600
Current liabilities
Creditors (due inunder 4 year)
Total current liabilities		 17 40,634
40,634		 ~
-		 -
-		 40,634
40,634		 10,409
10,409
Netcurrentassets “cen ee
110,161		 nn
28,533		 i
a i
66,048
204,742		 208,191
ES
i
nnn
Netassets 133,088 1,917,915 208,548 2,259,551 2,272,490
Funds ofthe Church
General Fund (Unrestricted)
Designated Funds (Unrestricted)
Total Unrestricted Funds		 18
18		 433,367
-
133,367		 -
1,917,636
1,917,636		 -
-
“		 433,367
1,917,636
2,051,003		 423,109
1,936,096
2,059,205
Restricted Funds 19 - - 208,548 208,548 213,285
ng
TotalFunds 133,367
Panetta		 1,917,636
earnrclDeena		 208,548
ANNU		 2,259,551 2,272,490

The financial statements were approved by the Board and authorised for issue on ......2:F. /2p. and signed on its behalf hy:

af Trustee

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Plymouth Methodist Central Hall

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Church Balance Sheet as at 31 August 2022

Unrestricted Funds Unrestricted Funds
General Designated Restricted
Funds		 Total 2022 Total 2021
Notes £ £ £ £ £
Fixed Assets
Tangible fixed assets 11 19,699 639,382 442,500 801,581 812,154
Investment properties 12 - 1,250,000 - 1,250,000 1,250,000
Total fixed assets 19,699 1,889,382 142,500 2,051,581 2,062,154
Current Assets
Debtors 14 58,061 “ - 58,061 71,712
Loans to the Circuit 14 - - 64,608 64,608 64,608
Investments withTMCP 15 40,049 - 1,440 41,489 41,489
Cash atBankand in hand 16 26,912 28,254 = 55,166 39,165
Total current assets 425,022 28,254 66,048 219,324 216,974
Current liabilities
Creditors (due in under 1 year) 17 19,372 S “ 19,372 8,746
Total current liabilities 19,372 = - 19,372 8,746
Net current assets 105,650 28,254 66,048 199,952 208,228
Netassets 125,349 1,917,636 208,548 2,251,533 2,210,382
Funds ofthe Church
General Fund (Unrestricted) 18 125,349 - - 125,349 121,001
Designated Funds (Unrestricted) 18 1,917,636 - 41,917,636 1,936,096
Total Unrestricted Funds 125,349 1,917,636 2,042,985 2,057,097
Restricted Funds 19 - - 208,548 208,548 213,285
TotalFunds 125,349 1,917,636 208,548 2,251533 2,270,382

The financial staternents were approved by the Board and authorised for issue on en AJz /23...... and signed on its behalf by:

TrusteeRev. G J Wh.

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Plymouth Methodist Central Hall

Notes to the Financial Statements for the Year Ended 31 August 2022

4 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 initially 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 aim and use of each designated fund is set out in the notes to the financial 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 policies, 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 financial statements.

Basis of consolidation

The consolidated financial statements comprise the financial statements of Plymouth Methodist Central Hali and PMCH Developments as at the baiance sheet date. PMCH Developments is a company limited 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.

Going concern Based on the monetary assets and human resource available at 31 August 2022, the Trustees believe that the church is a going concern.

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Plymouth Methodist Central Hall

Notes to the Financial Statements for the Year Ended 31 August 2022

income recognition Income is included in the Statement of Financial Activities when the Church becomes entitled to the income, itis 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 whena 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 Church to pay out resources.

VAT

Since the church is not VAT registered, ail input VAT is charged with the expenses to which is refers.

Tangible fixed assets

These are capitalised 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 impairment losses. Depreciation is provided on tangible fixed assets so as to write off the cost over their expected useful economic life as below:

Asset class Depreciation method and rate Church improvements 2% straight fine Plant and equipment 15 - 25% reducing balance

investments

Fixed asset investments are initially valued at cost and subsequently at fair value (their market value at the year ena).

Stocks

Stocks held for resale are measured at the lower of cost or net realisable value.

Financial instruments

Classification

The company holds the following financial instruments:

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 liabilities, when the charity's obligations are discharged, expire or are cancelled.

,

These instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustmenis.

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Plymouth Methodist Central Hall

Notes to the Financial Statements for the Year Ended 31 August 2022

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||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |2|Donations|and|legacies| |Unrestricted|funds|Restricted|Total|Funds|Unrestricted|funds|Restricted|Total|Funds| |General|Designated|Funds|2022|General|Designated|Funds|2021| |£|£|£|£|£|£|£|£| |Donations|21,409|-|-|21,409|33,120|-|-|33,120| |Gift|Aid|24,471|-|-|24,471|25,245|-|-|25,245| |Offerings|108,774|-|-|108,774|126,119|-|-|126,119| |CJRS grant|88|-|-|88|46,403|-|-|46,403| |154,742|=|=|454742|230,887|*|”|230,887| |3|Other|charitable|income| |Unrestricted|funds|Restricted|Total|Funds|Unrestricted|funds|Restricted|Total|Funds| |General|Designated|Funds|2022|General|Designated|Funds|2027|=.| |Income from|£|£|£|£|£|£|£|£| |Chureh|Org.|-|63,483|-|63,483|~|34,958|-|34,958| |Café|159,439|-|-|159,439|93,744|~|-|93,744| |Lettings|142,975|-|-|142,975|411,501|-|-|111,501| |Soft|Play|20,500|-|-|20,500|6,450|-|-|6,450| |322,914|63,483|-|386,397.|211,695|34,958|-|246,653| |4|invesiment|income| |Investment|income|includes|bank|interest|received.| |5|Other|income| |Other|income|includes|income from|special|events|and|other sundry|receipts.| |6 Trustees’|remuneration|and|expenses| |During|the|year,|Trustees|received|remuneration|totalling|ENil|(2021:|£Nil).|No|benefits|in|kind|were|received|by|Trustees.| |OneNo expenses were repaid expenses were repaidof the the|of the the|Trustees were repaid repaidof the theto Trustees.Charity Trustees.is remunerated remunerated|of the theto Trustees.Charity Trustees.is remunerated remunerated|Charity Trustees.is remunerated remunerated|is remunerated remunerated|through|the|Plymouth|Methodist|Mission|Circuit.| |No expenses were repaid expenses were repaidof the the|to Trustees.Charity Trustees.is remunerated remunerated| |7|Salaries|and|associated|costs| |Gross|salaries|paid|to employees were|as|follows:|2022|2021| |£|E| |Gross pay|176,888|136,061| |Employer's|National|Insurance|contributions|7,891|6,518| |Employer's pension|contributions|to defined|contribution|schemes|6,952|5,746| |Total|staff costs|(unrestricted|funds)|191,731|148,325| |Less|- amounts|presented|in|other expenditure|(22,608)|(68,010)| |Salaries and|associated|costs|169,123|80,315|

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During the year, Trustees received remuneration totalling ENil (2021: £Nil). No benefits in kind were received by Trustees. .| OneNo expenses were repaid expenses were repaidof the the Trustees were repaid repaidof the theto Trustees.Charity Trustees.is remunerated remunerated through the Plymouth Methodist Mission Circuit.

| No employees received emoluments of more that £60,000 (2021: none). No remuneration was received by the key management personnel of the charity.

Particulars of employees:

The average number of staff employed by the charity during the year amounted to:

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|||| |---|---|---| |2022|2021| |No.|No.| |Number of staff|18|16|

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Plymouth Methodist Central Hall

Notes to the Financial Statements for the Year Ended 31 August 2022

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 £5,966 (2021: £5,966).

8 Other expenditure

Unrestricted funds Unrestricted funds Restricted Total Funds Unrestricted funds Unrestricted funds Unrestricted funds Restricted Total Funds
General Designated Funds 2022 General Designated Funds 2021
£ £ £ £ £ £ £ £
Phone 3,311 - - 3,311 3,311 - - 3,311
Printing&
Stationery		 5,734 2 : 5,734 «5,734 - - 5,734
Cleaning 10,049 ~ - 10,049 10,049 - - 10,049
Organ costs 786 - - 786 786 - - 786
Minibus Hire 264 - - 264 264 - - 264
BankCharges 418 - 5 423 418 - 5 423
Advertising - - - - - - - -
Café costs 91,546 - - 91,546 91,546 - - 91,546
Sundry costs 4,235 - - 4,235 4,235 - ~ 4,235
Pere eae
for Church		 : 40,295 - 40,295 40,205 . 40,295
Independent
examiner 2,000 - - 2,000 2,000 - - 2,000
accountancy fee
Independent
aamaiienan fee		 4,000 “ 2 1,000 1,000 ; m - 4,000
Software 14,123 - - 14,123 14,123 - - 14,123
Professional fees 20,921 - ~ 20,921 20,921 - ~ 20,921
(See below)
Total 154,387 40,295 5 194,687 154,387 40,295 5 194,687
Professionalfees :
2022 2021
£ £
Professional fees (Stratton Creber and BlakeMorgan LLP) 19,695 19,695
Total 19,695 19,695

9 Grants and donations

Unrestricted funds Unrestricted funds Restricted Total Funds Unrestricted funds Unrestricted funds Restricted Total Funds
General Designated Funds 2022 General Designated Funds 2021
£ £ £ £ £ £ £ £
Youth 3,361 - - 3,361 3,361 - - 3,361
Flats
Evangelism		 6,392
1,348		 ~
-		 -
-		 6,392
1,348		 6,392
1,348		 -
-		 -
-		 6,392
1,348
WorshipTeam 728 - - 728 728 - - 728
Charitable grants 30,200 ~ - 30,200 30,200 - ~ 30,200
Total 42,029 - - 42,029 42,029 - : 42,029

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Plymouth Methodist Central Hall

Notes to the Financial Statements for the Year Ended 31 August 2022

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Notes to the Financial Statements
for the Yearthe YearYear Ended 31 August 2022		 Notes to the Financial Statements
for the Yearthe YearYear Ended 31 August 2022		 Notes to the Financial Statements
for the Yearthe YearYear Ended 31 August 2022		 Notes to the Financial Statements
for the Yearthe YearYear Ended 31 August 2022		 Notes to the Financial Statements
for the Yearthe YearYear Ended 31 August 2022
10 Subsidiary undertaking
The charityhasaquasi subsidiary, PMCH Developments, acompanyregistered in England andWaleswhich undertakes
trading activities. Registered office isPlymouth Methodist Central Hall, Eastlake Street, Plymouth, PL2 1BA.Thecharity
has control asthree oftheTrustees ofthe charityare Directors ofthecompanybutreceive no remuneration.
2022 2021
£ £
Aggregate assets
Aggregate liabilities
Aggregatefunds		 41,850
(39,747)
2,103		 41,850
(39,747)
2,103
Turnover 120,449 120,449
Expenditure
Profit((Loss) fortheyear		 (93,976)
26,473		 (93,976)
26,473
11 Tangible FixedAssets -Group —
Church Church Plant&
Improvements
(Designated)
£		 Improvements
(Restricted)
£		 Equipment
(Unrestricted)
£		 Total
£
Cost orvaluation
As 1 September2021 909,054 158,335 79,740 1,147,129
Additions
At31 August2022		 -
909,054		 -
158,335		 -
79,740		 0
1,147,129
Depreciation
Asat
1 September2021
Chargeforthe year
At31 August2022		 251,491
18,181
269,672		 12,668
3,167
15,835		 68,671
3,490
72,161		 332,830
24,838
357,668
Netbookvalue
At31 August2022
At 31 August2021		 '
639,382
657,563		 142,500
145,667		 7,579
11,069		 789,461
814,299
Tangible Fixed Assets -Church Church Church Plant&
improvements Improvements Equipment
(Designated) (Restricted) (Unrestricted) Total
£ £ £ £
Cost orvaluation
As 1 September2021 909,054 158,335 55,856 1,123,245
Additions
At 31 August2022		 -
909,054		 -
158,335		 -
55,856		 -
1,123,245
Depreciation
As at 1 September2021
Charge fortheyear
At31 August2022		 251,491
18,181
269,672		 12,668
3,167
15,835		 46,932
2,985
49,917		 311,091
24,333
335,424
Net book value
At31 August2022
At31August2021		 639,382
657,563		 142,500
145,667		 5,939
8,924		 787,821
812,154

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Plymouth Methodist Central Hall

Notes to the Financial Statements for the Year Ended 31 August 2022

12 Investments

Fair value as at 1 September 2021 and 31 August 2022

investment Properties £ 1,250,000

Historical cost

736,066

The investment property is a complex of shops and cafes. The fair value is based upon the Trustees’ best estimate and not the opinion of an independent valuer.

413 Stock

413 Stock
Church Group
2022 2021 2022 2021
£ £ £ £
Stock - - 550 550
14 Debtors and prepayments
Church Group
2022 2021 2022 2021
Prepayments and accrued income £ £ £ £
Circuit re Manses 64,608 64,608 64,668 64,608
Prepaid assessments 18,850 18,850 18,850 18,850
Amounts owed by group undertakings 31,784 38,084 - -
Other prepayments 2,933 2,933 2,933 2,933
Accrued income 4,494 11,845 4,494 11,846
Total 122,669 136,320 90,885 98,237

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, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of the trust property. TMCP ensure that, through providing guidance and acting under their 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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Plymouth Methodist Central Hall

Notes to the Financial Statements for the Year Ended 31 August 2022

17 Creditors: Amounts falling due within one year

----- Start of picture text -----
Church Group
2022 2021 2022 2021
£ £ £ £
Other Creditors 15,760 5,358 36,122 6,121
Accruals 3,612 3,388 4,512 4,288
Total 19,372 8,746 40,634 10,409
----- End of picture text -----

It is expected that all accruals and other creditors as at 31 August 2022 will be paid during the year to 31 August 2023.

Deferred income relates to rental income which is paid in advance.

2022 2021
£ £
Deferred income brought forward - .
Accrued income broughtforward (11,846) (6,500)
Rental income received in theyear 150,327 106,155
Deferred income carried forward - “
Accrued income carried forward 4,494 11,846
Rentalincomerecognisedintheyear 142,975 111,501

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.

Designated 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 identified 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 liquid assets.

Worship facitities relate to funds that have been transferred to designated funds to cover the ongoing 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 34 August 2022

20 Analysis of funds - Group

20 Analysis of fundsfunds - GroupGroup
Balance as at Incoming Outgoing Balance as at
01/09/2021 Resources Resources Transfers 31/08/2022
Unrestricted Undesignated
PMC H Developments (3,087) 159,439 (153,604) - 2,748
Future Developments Fund 24,870 ~ - - 24,870
Generalfunds 101,325 318,413 (315,552) 1,563 105,749
123,108 477,852 (469,156) 1,563 133,367
Unrestricted Designated
Investment property 4,250,000 - - - 1,250,000
Funds held on behalf of:
Church organisations		 16,748 63,483 (63,762) - 16,469
Church improvements 657,563 - (18,181) - 639,382
Worship facilities 11,785 - - - 11,785
4,936,096 63,483 - 81,943 - 1,917,636
Restricted funds
Reg Walker Memorial Funds 4,448 5 (13) - 1,440
Hall Refurbishment 147,230 - (3,167) - 1,563 142,500
Debtor re Manse Property 64,608 - ~ ~ 64,608
213,286 5 (3,180) - 1,563 208,548
Total Funds 2,272,490 541,340 (554,279) - 2,259,551
Balance as at incoming Outgoing Balance as at
01/09/2020 Resources Resources Transfers 31/08/2021
Unrestricted Undesignated
PMCH Developments (24,370) 120,449 (99,166) - (3,087)
Future Developments Fund 24,870 - - - 24,870
General funds 105,208
905,708		 322,270
~—«442,719		 (326,153)
~(425,019)		 -
101,325
~~~ -~S™*~CS~«SCSSTO
Unrestricted Designated
Investment property 1,250,000 - - - 1,250,000
Funds heldon behalfof.
Church organisations		 22,085 34,958 (40,295) - 16,748
Church improvements 675,744 - (18,181) - 657,563
Worship facilities 11,785 - ~ - 11,785
1,959,614 34,958 - 58,476 - 1,936,096
Restricted funds
Reg Walker Memorial Funds 1,448 5 (5) - 1,448
Hall Refurbishment 150,397 - (3,167) - 147,230
Debtor re Manse Property 64,608 = - “ 64,608
7 216,453 5 (3,172) - 213,286
TotalFunds 2,281,775 477,682 (486,967) - 2,272,490

The movement tn funds for the Charity only excludes the P MC H Developments fund above.

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Plymouth Methodist Central Hal!

Notes to the Financial Statements for the Year Ended 31 August 2022

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|||||||||| |---|---|---|---|---|---|---|---|---| |21|Net|assets|by fund| |Unrestricted|Restricted|Total funds|Unrestricted|Restricted|Total Funds| |funds|Funds|2022|funds|Funds|2021| |E|£|£|£| |Tangible assets|662,309|142,500|804,809|668,632|145,667|814,299| |Fixed|Investments|4,250,000|-|4,250,000|1,250,000|-|1,250,000| |Current Assets|179,328|66,048|245,376|150,982|67,618|218,600| |Creditors <|1|year|(40,634)|-|(40,634)|(10,409)|-|(10,409)| |Net assets|2,051,003|208,548|2,259,551|2,059,205|213,285|2,272,490|

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22 Volunteer contributions Every entity (Connexion, District, Circuit, Church) within the Methodist Church in GB is heavily reliant 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.

23 Related party transactions

P M CH Developments - A company limited by guarantee (controlled by Plymouth Methodist Central Hall).

During the year the church paid expenses on behalf of the company totalling £nil (2021: Enil). At the year end the company owed the church £31,784 (2021: £38,084). Loans to the group undertakings are interest free and repayable on demand.

Plymouth Methodist Mission Circuit

During the year the Charity provided circuit assesments totalling £74,500 (2021: £115,000). At the year end the Mission Circuit owed to the Central Hall £64,608 (2021: £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 considered to pass the tesis 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 received within categories covered by Chapter 3 Part 11 _ _ of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains 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 2022 have been prepared from the records of the Church and that they include all funds under the control of the Church.

Signature of Treasurer VF ere. Date =? /vfs Name of Treasurer V, Nicwwe Sot mw . Address of Treasurer wo dec Prt S@UARE ll vez coum] Play Bre

Presentation to the Church Council

| confirm that the annual report and accounts for the year ended 31 August 2022 were, or will be,* presented to the meeting of the Church trustees held on Signature of the Chair of the meeting Cui Name of the Chair of the meeting COV & 3 Ai Gees Date 27.02. 23

19

Independent Examiner's Report to the Trustees of the Plymouth Methodist Centrai Hail

| 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 2022.

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 ail 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 exceeded £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. | confirm that no material 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 Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. 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.

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/feport in order to enable a proper understanding of the accounts to be

:

Signed:

Name: Gary Randall ACA Address: Prydis Accounts Ltd The Parade Liskeard Cornwall PL14 6AF

~

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Date) Qa) Qod2
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20

Plymouth Methodist Central Hall

for the Year Ended 31 August 2022.

The following page does not form part of the statutory consolidated financial statements.

21

| |

PLYMOUTH METHODIST CENTRAL HALL

DETAILED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2022

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||||||| |---|---|---|---|---|---| |2022|2021| |£|£|£|£| |Income| |Offerings|98,629|102,709| |Grant|12,000|12,500| |Gift Aid|24,471|25,245| |Gift day donations|10,145|29,410| |Keyham|funds|~|7,237| |Rental|incorne|142,975|141,501| |Interest|201|142| |Reimbursements|and|sundry|income|5,044|11,854| |Youth|Work|4,365|1,529| |PMCH|Developments|159,439|93,744| |Income|from|Church|organisations|63,483|34,958| |Soft|Play|20,500|6,450| |CJRS|grant|88|46,403| |Total|Income|547,340|477,682| |Direct|charitable|expenditure| |Youth|Work|7,408|3,361| |Worship & evangelism|§,222|2,076| |Grants|and|donations|30,642|30,986| |Wages|and|salaries|169,123|80,315| |Utilities|21,915|13,728| |Flats|3,589|6,392| |Insurance|8,800|8,634| |Repairs|and|maintenance|16,484|7,737| |Circuit assessment|75,400|115,000| |Minibus|Hire|862|264| |Cleaning|10,920|10,049| |Telephone|and technology|costs|4,200|3,311| |Postage|and|petty cash|expenditure|298|658| |Sundries|and|safeguarding|6,491|3,577| |Printing|and|stationary|7,596|5,734| |Bank Charges|559|423| |Software|costs|-|14,123| |Expenditure|for church|organisations|63,762|40,295| |PMCH|Developments|81,637|91,546| |Depreciation|of fixed|assets|24,350|24,837| |§39,258|463,046| |Management and|administration| |Accountancy and|examination|fees|3,000|3,000| |Professional fees|12,021|20,921| |~|45,024|23,921| |Totai|expenditure|554,279|486,967| |Net surplus/(deficit)|for the year|(12,939)|(9,285)|

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:

,

PLYMOUTH METHODIST CENTRAL HALL

CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2022

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |2022|2021| |£|£|£|£| |Income| |Offerings|98,629|102,709| |Grant|8,000|12,500| |Gift Aid|24,471|25,245| |Gift day donations|10,145|23,410| |Keyham|funds|”|7,237| |Rental|income|142,975|111,501| |Interest|201|142| |Reimbursements|and sundry income|5,044|11,854| |Youth Work|4,365|1,529| |PMCH|Developments|2,350|1,925| |income from|Church|organisations|63,483|34,958| |Soft|Play|20,500|6,450| |CJRS|grant|88|19,698| |Total|Income|380,251|359,158| |Direct|charitable|expenditure| |Youth|Work|7,408|3,361| |Worship & evangelism|5,222|2,076| |Grants and|donations|30,642|30,986| |Wages|and|salaries|96,268|80,315| |Utilities|21,915|13,728| |Flats|3,589|6,392| |insurance|8,800|8,634| |Repairs|and|maintenance|16,484|7,737| |Circuit assessment|75,400|115,000| |Minibus|Hire|862|264| |Cleaning|10,920|10,049| |Telephone|and|technology costs|4,200|3,311| |Postage|and|petty cash|expenditure|298|658| |Sundries and|safeguarding|6,491|3,577| |Printing|and|stationary|7,596|.|5,734| |Bank|Charges|559|423| |Software|costs|-|14,123| |Expenditure for church|organisations|63,762|40,295| |Depreciation|of fixed|assets|23,588|24,332| |384,004|____|370,995| |Management|and|administration| |Accountancy|arid|examination|fees|3,000|3,000| |Professional|fees|12,021|20,921| |15,021|23,921| |Total|expenditure|399,025|394,916| |Net surplus/(deficit)|for the year|(18,774)|(35,758)|

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