Charity registration number: 

1127642 

## THE METHODIST CHURCH 

STANDARD FORM OF ACCOUNTS ACCRUALS BASIS for the Year Ended 31 August 2023 

## Plymouth Methodist Central Hall 

## Ministers 

Rev. G Higgs 

Lay Pastor 

Jonny Libby 

## Church Stewards 

Nigel Morris John Stephens Julie Morris Gill Rolfe Paul Courtney Mark Haydon 

Church Treasurer 

Dr lan Hodgins 



## Plymouth Methodist Central Hall 

||Page|
|---|---|
|Trustees’ Report (including reference and administrative details)|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 pages do not form part of the consolidated financial statements||
|DetailedStatementsoffinancialactivities|21-23|





## 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 2023. 

## 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 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: 

|| Hodgins|Treasurer|Rev. G Higgs|Chairman|
|---|---|---|---|
|AJ Stephens||Z Haydon||
|V Jordan||A Morris||
|G Rolfe||E Warren||
|N J Morris||M Beswetherick||
|B Griffiths||K Beswetherick||
|M Coutts||| Oboh|(Appointed 2/7/23)|
|P Gourtney||H Robins|{Appointed 2/7/23)|
|A Littler||ECouch|{Appointed 2/7/23)|
|J Morris||C Sado|(Appointed 2/7/23)|
|H Mitchell||A De Viell|(Resigned 2/7/23)|
|C Smith||E Norton|(Resigned 1/3/23)|
|J M Stephens||M D Haydon|{Resigned 2/7/23)|
|P Horn||C George|(Resigned 2/7/23)|
|C Hodgins||GH Horn|(Resigned 2/7/23)|
|D Baker||AAlexander|(Resigned 2/7/23)|
|LStewart|Secretary|||



## Advisors 

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

Bankers: Lloyds TSB Bank Plc 8 Royal Parade Plymouth Pl1 1HB 

{ 



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 6AF 

## 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 'Local 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. 

2 



## 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. 

The Chuch Council established a Mission Action Plan that focused on the delivery of two of our principle aims of ‘Prayer’ and ‘Faith in Action’. 

We have pioneered different styles of services, as well as begun new outreach opportunities in the city centre, as well as hosting a family fun day as part of a city wide mission weekend. 

## During the year we have welcomed 13 new people into membership 

We have substantially increased our letting of the building for events, thus generating income for the church as well as providing community space. 

## Church based activities include: 

- ¢ The Discovery Café is open Monday to Saturday and also hosts church and other events in the evenings. ¢ Outreach in the city centre happens monthly 

- ¢ Totstop toddler group on Monday and Thursday for 0-4 year olds with their parents / carers, with the numbers now exceeding capacity. 

- e The Soft Play Café is open Tuesday to Saturday for 0-8 year olds. 

- ¢ 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. 

- e Messy Church welcomes over 100 children and adults once a month on a Saturday morning. 

- e Bible Study meetings for adults on Tuesday afternoon and evening and for teenagers on Monday evenings. e Regular social events for the church family and friends at and beyond the church premises. e Knit and Natter and other craft group meets weekly. 

- e Online worship. 

- e Discipleship and fellowship groups meeting across the city in our name 

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

3 



## Plymouth Methodist Central Hall Trustees’ Annual Report 

## Financial Review 

## Income 

Offerings and donation were about 5% higher than the previous year, and the Gift Aid receipts had also increased. 

Gift Day donations were considerably higher, in that they were over 50% more than the amount we received in the previous year. 

Rental income was slightly lower but in the previous year there was some ‘catch up' from Oggy Oggy. 

Grant income of £24,500 was received in the year (previous year £8,000). £11,000 was towards the cost of a youth worker, £3,500 was towards the cost of a digital operations worker, £5,000 towards increased payroll costs and £5,000 towards the cost of repairs to the back wall. 

Reimbursements & Sundry Income includes £4,704 of solar panel income (£4,182 in the previous year). 

## Expenditure 

Salaries — These are higher than last year because of the significant increase in the Living Wage and the Methodist Church's decision nationally, which we implemented locally, to increase salaries to compensate for the rise in the cost of living. 

The cost of utilities was considerable lower than the previous year, this mostly related to the gas bills being about £6,000 less, because of the new heating system that had been installed. 

Repairs and maintenance was up by over 50%, this was due to there being major repairs to the back wall. 

Sundries & Safeguarding includes: equipment £3,170, refund on cessation of rental £1,750, pastoral /discipleship £1,596 and hospitality & gifts £948. 

## Going concern 

Based on the monetary assets and human resource available at 31 August 2023, the Trustees believe that the church ts 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. 

4 



## Plymouth Methodist Central Hall 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 £150,000. The reasons for this are:- 

- 1) The church needs approximately one month's average expenditure in reserve as working 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 the year end are £124,783 (2022: £133,367), of which £124,783 is free reserves (2022: £133,367). 

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 &...0007.%.Zh ~ 024 and signed' on ;its behalf by: 

Rev. Cy Trustee 


**----- Start of picture text -----**<br>
Dr| Hodgins<br>Trustee<br>**----- End of picture text -----**<br>


5 



## Plymouth 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. In preparing these financial statements,the Trustees are required to: 

* select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material 

- departures disclosed and explained in the financial statements; and 

* prepare the financial statements on the going concern basis unless it is 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 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 Ub8 and signed on its behalf by: 

> TrusteeRev. Gcof TD **r** ustee|\, 

6 



## Plymouth Methodist Central Hall 

Consolidated Statement of Financial Activities (SOFA) for the Year Ended 31 August 2023 


**----- Start of picture text -----**<br>
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Unrestricted|Restricted|
|Note|funds|funds|‘Talaleoaa|funds|funds|Total|2022|
|£|£|E|£|£|£|
|Income|and|Endowments|
|Donations|and|legacies|2|186,889|-|186,889|154,742|-|154,742|
|Other charitable|income|3|429,147|-|429,147|386,397|-|386,397|
|Interest|and|investment|income|4|1,420|46|1,466|194|7|201|
|Toial|income and endowments|617,456|46|617,502|541,333|7|541,340|
|Expenditure|on|charitable|activities|
|Salaries and|associated|costs|7|202,303|-|202,303|169,123|-|169,123|
|Circuit|assessments|75,400|-|75,400|75,400|-|75,400|
|Office expenses|24,655|-|24,655|30,715|-|30,715|
|Property|maintenance|38,315|-|38,315|16,484|-|16,484|
|Depreciation|11|28,026|3,167|31,193|21,183|3,167|24,350|
|Other expenditure|8|209,437|48|209,485|191,329|15|191,344|
|Grants|and donations|9|57,094|-|57,094|46,863|-|46,863|
|Total|charitable|expenditure|635,230|3,215|638,445|551,097|3,182|554,279|
|Net|Income/(expenditure)|for year|(17,775)|(3,169}|(20,944)|(9,764)|(3,175)|(12,939)|
|Transfers|between|funds|-|-|-|1,563|-|1,563|=|
|Net movement|in funds|(17,775)|{3,169)|(20,944)|(8,201)|(4,738)|(12,939)|
|Reconciliation|of|funds|
|Total funds|brought forward|2,051,003|208,548|2,259,551|2,059,204|213,286|2,272,490|
|Total funds|carried forward|2,033,228|205,379|2,238,607|2,051 ,003|208,548|2,259,551|

**----- End of picture text -----**<br>


All of the Charity’s activities derive from continuing operations during the above two periods. 

7 



## Plymouth Methodist Central Hall 

## Consolidated Balance Sheet as at 31 August 2023 

|||Unrestricted Funds|Unrestricted Funds||||
|---|---|---|---|---|---|---|
|||General|‘<br>Designated|Restricted<br>Funds|Total2023|=Total2022|
||Notes|£|£|£|£|£|
|Fixed Assets|||||||
|Tangible fixed assets|11|40,900|621,201|139,333|801,434|804,809|
|Investment properties|12|-|1,250,000|-|1,250,000|1,250,000|
|Total fixed assets||40,900|1,871,201|139,333|2,051,434|2,054,809|
|Current Assets|||||||
|Stock|13|600|-|-|600|550|
|Debtors|14|23,682|-|-|23,682|26,277|
|Loans tothe Circuit|14|-|-|64,608|64,608|64,608|
|Investments withTMCP|15|41,287|-|1,438|42,725|41,564|
|Cash atBank and in hand|16|34,176|37,244|-|71,420|112,377|
|Total currentassets||99,745|37,244|66,046|203,035|245,376|
|Current liabilities|||||||
|Creditors (due in under 1 year)|17|15,862|-|-|15,862|40,634|
|Tota! current liabilities||15,862|-|-|15,862|40,634|
|Net current assets||83,883|37,244|66,046|187,173|204,742|
|Net assets||124,783|1,908,445|205,379|2,238,607|2,259,551|
|Funds of the Church|||||||
|General Fund (Unrestricted)|18|124,783|-|-|124,783|133,367|
|Designated Funds (Unrestricted)|18|-|1,908,445|-|1,908,445|1,917,636|
|Total Unrestricted Funds||124,783|1,908,445|-|2,033,228|2,051,003|
|Restricted Funds|19|-|-|205,379|205,379|208,548|
|TotalFunds||124,783|1,908,445|205,379|2,238,607|2,259,551|



The financial statements were approved by the Board and authorised for issue on Le : od . — and signed on its behalf by: 

Rev. GAi 

; 

Trusiee 

8 



## Plymouth Methodist Central Hall 

## Church Balance Sheet as at 31 August 2023 

|||Unrestricted Funds|Unrestricted Funds||||
|---|---|---|---|---|---|---|
|||General|Designated|Reichs<br>Funds|Total2023|Total2022|
||Notes|£|£|£|£|£|
|Fixed Assets|||||||
|Tangible fixed assets|11|23,026|621,201|139,333|783,560|801,581|
|Investment properties|12|-|1,250,000|-|1,250,000|1,250,000|
|Total fixed assets||23,026|1,871,201|139,333|2,033,560|2,051,581|
|Current Assets|||||||
|Debtors|14|52,079|-|-|52,079|58,061|
|Loans to the Circuit|14|-|-|64,608|64,608|64,608|
|Investments withTMCP|15|41,287|-|1,438|42,725|41,489|
|Cash at Bank and in hand|16|1,055|37,244|-|38,299|55,166|
|Total current assets||94,421|37,244|66,046|197,711|219,324|
|Current liabilities|||||||
|Creditors (due in under 1 year)|17|6,833|-|-|6,833|19,372|
|Total current liabilities||6,833|-|-|6,833|49,372|
|Net current assets||87,588|37,244|66,046|190,878|199,952|
|Net assets||110,614|1,908,445|205,379|2,224,438|2,251,533|
|Funds of the Church|||||||
|General Fund (Unrestricted)|18|110,614|-|-|110,614|125,349|
|Designated Funds (Unrestricted)|18||1,908,445|-|1,908,445|1,917,636|
|Total Unrestricted Funds||110,614|1,908,445||2,019,059|2,042,985|
|Restricted Funds|19|-|-|205,379|205,379|208,548|
|TotalFunds||110,614|1,908,445|205,379|2,224,438|2,251,533|



The financial statements were approved by the Board and authorised for issue on BQ, 0b - 14weewemaT. and signed on its behalf by: 

Rev. GJ Higgs Trustee 

g 



## Plymouth Methodist Central Hall 

Notes to the Financial Statements for the Year Ended 31 August 2023 

## 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 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 Hall and PMCH Developments as at the balance 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 Halll. 

## Going concern 

Based on the monetary assets and human resource available at 31 August 2023, the Trustees believe that the church is a going concern. 

10 



Notes to the Financial Statements for the Year Ended 31 August 2023 

## Plymouth Methodist Central Hall 

## Income recognition 

Income is included in the Statement of Financial Activities when the Church becomes entitled to the income, it is more likely that the income will be received and the monetary vatue 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 jegal 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 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 line 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 end}. 

## 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: 

° 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 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 adjustments. 

11 



## Plymouth Methodist Central Hall 

## Notes to the Financia! Statements 

## for the Year Ended 31 August 2023 


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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|2|Donations|and|legacies|
|Unrestricted|funds|Restricted|Total|Funds|Unrestricted|funds|Restricted|Total|Funds|
|General|Designated|Funds|2023|General|Designated|Funds|2022|
|£|£|£|£|£|£|£|£|
|Donations|33,366|-|-|33,366|21,409|-|-|21,409|
|Gift|Aid|29,451|-|-|29,451|24,471|-|-|24,471|
|Offerings|124,072|-|-|124,072|108,774|-|-|108,774|
|CJRS grant|-|E|2|-|88|-|-|88|
|186,889|-|”|186,889|154,742|,|-|154,742|
|3|Other|charitable|income|
|Unrestricted funds|Restricted|Total|Funds|Unrestricted funds|Restricted|Total|Funds|
|General|Designated|Funds|2023|General|Designated|Funds|2022|
|Income|from|£|£|£|£|£|£|£|£|
|Church|Org.|-|75,556|-|75,556|~|63,483|-|63,483|
|Café|192,639|-|-|192,639|159,439|-|-|159,439|
|Lettings|140,453|-|-|140,453|142,975|-|-|142,975|
|Soft|Play|20,500|-|-|20,500|20,500|-|-|20,500|
|353,592|75,556|-|429,147|322,914|63,483|-|386,397|

**----- End of picture text -----**<br>


## 4 Investment 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 £Nil (2022: £Nil). No benefits in kind were received by Trustees. One of the Trustees of the Charity is remunerated through the Plymouth Methodist Mission Circuit. No expenses were repaid to Trustees. 

## 7 Salaries and associated costs 


**----- Start of picture text -----**<br>
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Gross|salaries|paid|to|employees|were|as|follows:|2023|2022|
|£|£|
|Gross|pay|206,857|176,888|
|Employer's|National|Insurance|contributions|11,611|7,891|
|Employer's|pension|contributions|to|defined|contribution|schemes|9,729|6,952|
|Tota!|staff costs|(unrestricted|funds)|228,197|191,731|
|Less|-|amounts|presented|in|other|expenditure|(25,894)|(22,608)|
|Salaries|and|associated|costs|per SOFA|202,303|169,123|

**----- End of picture text -----**<br>


No employee received emoluments of more that £60,000 (2022: 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: 

## Number of staff 


**----- Start of picture text -----**<br>
|||
|---|---|
|2023|2022|
|No.|No.|
|20|18|

**----- End of picture text -----**<br>


12 



## Plymouth Methodist Central Hall 

## Notes to the Financial Statements for the Year Ended 31 August 2023 

## 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 £9,729 (2022: £6,952). 

## 8 Other expenditure 

||Unrestricted funds|Unrestricted funds|Restricted|Total Funds|Unrestricted funds|Unrestricted funds|Restricted|Total Funds|
|---|---|---|---|---|---|---|---|---|
||General|Designated|Funds|2023|General|Designated|Funds|2022|
||£|£|Es|E|£|£|£|£|
|Phone|4,471|-|-|4,471|4,200|-|-|4,200|
|Painting&<br>Stationery|7,544|-|-|7,544|7,596|-|.|7,596|
|Cleaning|9,649|-|-|9,649|10,920|-|-|10,920|
|Minibus Hire|1,530|-|-|1,530|862|-|-|862|
|BankCharges|356|-|48|404|544|-|15|559|
|Café costs|89,033|-|-|89,033|81,635|-|-|81,635|
|Sundrycosts|10,757|-|-|10,757|6,789|-|-|6,789|
|Eapaisaiiia<br>for Church|“|66,565|.|66,565|.|63,762|:|63,762|
|Independent|||||||||
|examiner|2,000|-|-|2,000|2,000|-|-|2,000|
|accountancy fee|||||||||
|Independent<br>examinationfee|1,000|.|.|1,000|1,000|Z|-|1,000|
|SWYM|4,245|-|-|4,245|-|-|-|-|
|Professional fees|12,068|-|-|12,068|12,021|-|-|12,021|
|Loss on Disposal|220|-|-|220|-|-|-|-|
|Total|142,872|66,565|48|209,485|127,567|63,762|15|191,344|
|Professional fees|||||||||
|||||||2023|2022||
|||||||£|£||
|Professional fees||||||12,068|12,021||
|Total||||||12,068|12,021||



## 9 Grants and donations 

||Unrestricted funds|Unrestricted funds|Restricted|Total Funds|Unrestricted funds|Unrestricted funds|Restricted|Total Funds|
|---|---|---|---|---|---|---|---|---|
||General|Designated|Funds|2023|General|Designated|Funds|2022|
||£|E|£|£|£|£|£|£|
|Youth|8,853|-|“|8,853|7,408|-|-|7,408|
|Flats|9,318|-|-|9,318|3,589|-|-|3,509|
|Evangelism|2,559|-|-|2,559|2,964|-|-|2,964|
|Worship Team|4,876|-|-|4,876|2,260|-|-|2,260|
|Tithes paid out|31,488|-|-|31,488|30,642|-|-|30,642|
|Total|57,094|-|.|57,094|46,863|-|-|46,863|



13 



## Plymouth Methodist Central Hall 

## Notes to the Financial Statements for the Year Ended 31 August 2023 

## 10 Subsidiary 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 charity are Directors of the company but receive no remuneration. 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|2023|2022|
|£|£|
|Aggregate|assets|51,595|60,984|
|Aggregate|liabilities|(37,426)|(53,047)|
|Aggregate funds|14,169|7,937|
|Turnover|187,919|161,089|
|Expenditure|(181,737)|(155,254)|
|Profit/(Loss)|for the|year|6,182|5,835|

**----- End of picture text -----**<br>


## 11 Tangible Fixed Assets - Group 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|Church|Church|Plant|&|
|Improvements|Improvements|Equipment|
|(Designated)|(Restricted)|(Unrestricted)|Total|
|Cost|or|valuation|£|£|£|£|
|As|1|September 2022|909,054.|158,335|94,600|1,161,989|
|Additions|-|-|28,044|28,044|
|Disposals|-|-|(24,925)|(24,925)|
|At31|August|2023|909,054|158,335|97,719|1,165,108|
|Depreciation|
|As|at|1|September|2022|269,672|15,835|71,8673|357,180|
|Charge|for|the|year|18,181|3,167|9,845|31,193|
|Depreciation|eliminated|on|disposal|-|-|(24,699)|(24,699)|
|At|31|August|2023|287,853|19,002|81,518|363,674|
|Net|book|value|
|At|31|August 2023|621,201|139,333|16,201|801,434|
|At 31|August 2022|639,382|142,500|22,927|804,809|
|Tangible|Fixed|Assets|-|Church|
|Cost|or|valuation|£|£|£|£|
|As|1|September 2022|909,054.|158,335|68,871|1,136,260|
|Additions|>|-|10,100|10,100|
|Disposals|5|{29,865}|(29,865)|
|At|31|August|2023|909,054|158,335|49,106|1,116,495|
|Depreciation|
|As|at|1|September 2022|269,672|15,835|49,172|334,679|
|Charge|for the year|18,181|3,167|6,553|27,901|
|Deprecialion|eliminated|on|disposal|-|-|(29,645)|(29,645)|
|At|31|August 2023|287,853|19,002|26,080|332,935|
|Net|book|value|
|At 31|August|2023|621,201|139,333|23,026|783,560|
|At31|August|2022|639,382|142,500|19,699|801,581|

**----- End of picture text -----**<br>


14 



## Plymouth Methodist Central Hall 

Notes to the Financial Statements for the Year Ended 31 August 2023 

## 12 Investments 

## Investment Properties 

£ 

Fair value as at 1 September 2022 and 31 August 2023 

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. 

13 Stock 

|13 Stock|||||
|---|---|---|---|---|
||Church||Group||
||2023|2022|2023|2022|
||£|£|£|£|
|Stock|-|.|600|550|
|14 Debtors and prepayments|||||
||Church||Group||
||2023|2022|2023|2022|
|Prepayments and accrued income|£|£|£|£|
|Circuit re Manses|64,608|64,608|64,608|64,608|
|Prepaid assessments|17,500|18,850|17,500|18,850|
|Amounts owed by group undertakings|28,397|31,784|-|-|
|Other prepayments|4,104|2,933|4,104|2,933|
|Accrued income|2,078|4,494|2,078|4,494|
|Total|116,687|122,669|88,290|90,885|



## 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. 

15 



## Plymouth Methodist Central Hall 

## Notes to the Financial Statements for the Year Ended 31 August 2023 

## 17 Creditors: Amounts falling due within one year 

||Church||Group||
|---|---|---|---|---|
||2023|2022|2023|2022|
||£|£|£|£|
|Other Creditors|3,833|15,760|11,962|36,122|
|Accruals|3,000|3,612|3,900|4,512|
|Total|6,833|19,372|15,862|40,634|



It is expected that all accruals and other creditors as at 31 August 2023 will be paid during the year to 31 August 2024. 

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

||2023|2022|
|---|---|---|
||£|£|
|Deferred income broughtforward|-|-|
|Accrued income broughtforward|(4,494)|(11,846)|
|Rental income received in the year|142,869|150,327|
|Deferred income carried forward|Ss|-|
|Accrued income carried forward|2,078|4,494|
|Rentalincomerecognisedintheyear|140,453|142,975|



## 18 Unrestricted Funds 

## Generali 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 facilities 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. 

16 



Plymouth Methodist Central Hall 

## Notes to the Financial Statements for the Year Ended 31 August 2023 

|20 Analysis offunds - Group||||||||
|---|---|---|---|---|---|---|---|
||Balance as at|Incoming||Outgoing|||Balance as at|
||01/09/2022|Resources||Resources||Transfers|31/08/2023|
|Unrestricted Undesignated||||||||
|P MCH<br>Developments|2,748|187,919||(181,737)||-|8,930|
|Future Developments Fund<br>General funds|24,870<br>105,749|-<br>353,981||-<br>(368,747)||-|24,870<br>90,983|
||133,367|541,900||(550,484)||-|124,783|
|Unrestricted Designated||||||||
|Investment property|1,250,000|-||a||a|1,250,000|
|Funds nievd.on Benalt af;<br>Church organisations|16,469|75,556||(66,566)||‘|25,459|
|Church improvements|639,382|-||(18,181)||-|621,201|
|Worship facilities|11,785|-||-||-|11,785|
||1,917,636|75,556|-|84,746||-|1,908,445|
|Restricted funds||||||||
|Reg Walker Memorial Funds|1,440|46||{48)||-|1,438|
|Hall Refurbishment|142,500|-||(3,167)|||139,333|
|Debtor re Manse Property|64,608|-||-||-|64,608|
||208,548|46||(3,215)||-|205,379|
|Total Funds|2,259,551|617,502||(638,445)||-|2,238,607|
||Balance as at|Incoming||Outgoing|||Balance as at|
||01/09/2021|Resources||Resources||Transfers|31/08/2022|
|Unrestricted Undesignated<br>P MCH<br>Developments|(3,087)|159,439||(153,604)||=|2,748|
|Future Developments Fund|24,870|-||-||-|24.870|
|General funds|101,325|318,413||(315,552)||1,563|105,749|
||123,108|477,852||(469,156)||1,563|133,367|
|Unrestricted Designated||||||||
|Investment property|1,250,000|-||-||-|1,250,000|
|—innerpaiiaharieeailain<br>Church organisations|16,748|63,483||(63,762)||.|16,469|
|Church improvements|657,563|||(18,181)||-|639,382|
|Worship facilities|11,785|=||-||z|11,785|
||1,936,096|63,483|-|81,943||-|1,917,636|
|Restricted funds||||||||
|Reg Walker Memorial Funds|1,448|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|
|TotalFunds|2,272,490|541,340||(554,279)||-|2,259,551|



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

17 



## Plymouth Methodist Central Hall 

## Notes to the Financial Statements 

## for the Year Ended 31 August 2023 

|21 Net assets byfund|fund||||||
|---|---|---|---|---|---|---|
||Unrestricted|Restricted|Totalfunds|Unrestricted|Restricted|Total Funds|
||funds|Funds|2023|funds|Funds|2022|
||£|£|£|||£|
|Tangible assets|662,101|139,333|801,434|662,309|142,500|804,809|
|Fixed Investments|1,250,000|-|1,250,000|4,250,000|-|1,250,000|
|Current Assets|136,989|66,046|203,035|179,328|66,048|245,376|
|Creditors < 1 year|(15,862)|-|(15,862)|{40,634}|-|(40,634)|
|Netassets|2,033,228|205,379|2,238,607|2,051,003|208,548|2,259,551|



## 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 commiiment. 

## 23 Related party transactions 

P MCH 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 (2022: Enil). At the year end the company owed the church £28,397 (2022: £31,784). 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 £75,400 (2022: £75,400). At the year end the Mission Circuit owed to the Central Hall £64,608 (2022: 264,608). 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 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 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. 

18 



## Plymouth Methodist Central Hall 

## Declarations and Scrutiny 


**----- Start of picture text -----**<br>
| confirm that these accruals-based accounts for the year to 31 August 2023 have been<br>prepared from the records of the Church and that they include all funds under the<br>control of the Church.<br>Signature of TreasurerLh Date 14° Joye ‘<br>{<br>Name of Treasurer Joxllod)a<br>- ve i<br>Address of Treasurer ( rh ead vi<br>re Kaywryice AD | A<br>Presentation to the Church Council<br>**----- End of picture text -----**<br>


| confirm that the annual report and accounts for the year ended 31 August 2023 were, or will be,* presented to the meeting of the Church trustees held on 

Signature of the Chair of the meeting ny . Name of the Chair of the meeting Date 26~- oL- LY ; 


**----- Start of picture text -----**<br>
Crd WlGics<br>**----- End of picture text -----**<br>


* delete or circle as appropriate 

19 



i 

## Independent Examiner's Report to the Trustees of the 

## Plymouth 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 2023. 

## 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 oul 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 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 

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. 

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: Qlo1 & 1 aoa Name: Gary Randall ACA Address: Prydis Accounts Ltd The Parade Liskeard Cornwall PL14 6AF 

20 



## Plymouth Methodist Central Hall 

for the Year Ended 31 August 2023. 

The following pages do not form part of the statutory consolidated financial statements. 

21 



## PLYMOUTH METHODIST CENTRAL HALL 

## DETAILED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2023 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|£|£|£|£|
|Income|
|Offerings|103,624|98,629|
|Grant|24,500|12,000|
|Gift|Aid|29,451|24,471|
|Gift day donations|20,448|10,145|
|Keyham|funds|-|.|
|Rental|income|140,453|142,975|
|Interest|1,466|201|
|Reimbursements|and|sundry|income|4,714|.|5,044|
|Youth|Work|4,152|4,365|
|PMCH|Developments|192,639|159,439|
|Income|from|Church|organisations|75,556|63,483|
|Soft|Play|20,500|20,500|
|CJRS|grant|-|88|
|Total|Income|617,502|541,340|
|Direct|charitable|expenditure|
|Youth|Work|8,853|7,408|
|Worship & evangelism|7,435|5,222|
|Grants|and|donations|31,488|30,642|
|Wages|and|salaries|202,303|169,123|
|Utilities|15,946|21,915|
|Flats|9,318|3,589|
|Insurance|8,710|8,800|
|Repairs|and|maintenance|33,439|16,484|
|Repairs|-|commercial|property|4,876|-|
|Circuit|assessment|75,400|75,400|
|Minibus|Hire|1,530|862|
|Cleaning|9,649|10,920|
|Telephone|and|technology costs|4,471|4,200|
|Postage|and|petty|cash|expenditure|-|298|
|Sundries|and|safeguarding|10,755|6,491|
|Printing|and|stationary|7,544|7,596|
|Bank|Charges|404|559|
|SWYM|4,245|-|
|Expenditure|for|church|organisations|66,565|63,762|
|PMCH|Developments|89,035|81,637|
|Depreciation|of|fixed|assets|31,193|24,350|
|Loss|on|Disposal|220|-|
|623,377|539,258|
|Management|and|administration|
|Accountancy|and|examination|fees|3,000|3,000|
|Professional|fees|12,068|12,021|
|15,068|15,024|
|Total|expenditure|638,445|554,279|
|Net|surplus/(deficit)|for the year|(20,944)|(12,939)|

**----- End of picture text -----**<br>


22 



## PLYMOUTH METHODIST CENTRAL HALL 

## CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2023 


**----- Start of picture text -----**<br>
||||||||
|---|---|---|---|---|---|---|
|2023|2022|
|£|£|£|£|
|Income|
|Offerings|103,624|98,629|
|Grant|24,500|8,000|
|Gift Aid|29,451|24,471|
|Gift day donations|20,448|10,145|
|Keyham|funds|-|-|
|Rental|income|140,453|142,975|
|Interest|1,466|201|
|Reimbursements|and|sundry income|4,714|5,044|
|Youth|Work|4,152|4,365|
|PMCH|Developments|4,720|2,350|
|Income|from|Church|organisations|75,556|63,483|
|Soft|Play|20,500|20,500|
|CJRS|grant|-|88|
|Total|Income|429,583|380,251|
|Direct|charitable|expenditure|
|Youth|Work|8,853|7,408|
|Worship|&|evangelism|7,435|5,222|
|Grants|and|donations|31,488|30,642|
|Wages|and|salaries|112,893|96,268|
|Utilities|15,946|21,915|
|Flats|9,318|3,589|
|Insurance|8,710|8,800|
|Repairs|and|maintenance|33,439|16,484|
|Repairs|-|commercial|property|4,876|-|
|Circuit|assessment|75,400|75,400|
|Minibus|Hire|1,530|862|
|Cleaning|9,649|10,920|
|Telephone|and|technology|costs|4,471|4,200|
|Postage|and|petty|cash|expenditure|-|298|
|Sundries|and|safeguarding|10,755|6,491|
|Printing|and|stationary|7,544|7,596|
|Bank|Charges|404|559|
|SWYM|4,245|.|
|Expenditure|for church|organisations|66,565|63,762|
|Depreciation|of|fixed|assets|27,901|23,588|
|Loss|on|Disposal|220|-|
|441,640|384,004|
|Management|and|administration|
|Accountancy|and|examination|fees|3,000|3,000|
|Professional|fees|12,068|12,021|
|15,068|15,021|
|Total|expenditure|456,708|399,025|
|Net|surplus/(deficit)|for the year|(27,126)|(18,774)|

**----- End of picture text -----**<br>


23