Charlty reglslration number: 1127642 THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS ACCRUALS BASIS for Ihe Year Ended 31 August 2024 Plymouth Melhodlst Central Hall Mlnlster Rev. Gareth Higgs (Resigned - 31 August 20241 Dlstrlct Chalr Rev. Dan Haylelt (Appointed - 1 September 20241 Lay Pastor Jonny Libby Circuit Stewards Nigel Morris Julie Morris PaLJI Courtney John Stophons Gill Rolle IRg8ignod 31 August 20241 (Resigned - 31 August 20241 Trea5uiei Dr lan Hodgins
Plymouth Methodlst Cenlral Hall Page Trustees. Report lincluding reference and adminislralive d&lailsl Consolidated Statement ol financial activities Consolidated Balance Sheet Church Balance Sheet Notes lo the financial slalements 10-18 Declaration 19 Independent examiner's report 20 The following paggs do not form part of the consolidated financial stalemgnts Detailed Slalomenls ol financial aetivities
Plymouth Melhodi$t Central Hall Truslegs, Annual Report Introductlon Tho Trustees have the pleasure in presenting their reporl and the financial slalemenls ol the charity lor thc ycar cndcd 31 Augu- Reference and admlnlstratlve Information Legal status The ollicial name ol the charity is Plymouth Methodist Central Hall. The charity's registration number is 1127642. The regislèrod addrèss is.. Easllake Street Plymouth PL11BA Methodist Churches are charities and as such are subject lo the provisions ol the Charities Act 2011 and the accounts have lo be prepared in line with the regLJlalions made Ljnder the Act. Public Benefit The Trustees confirm that they have complied with the duly in Section 17151 ol the 2011 Charities Act lo have due regard lo guidance published by ihe Charity Commission relating lo public benefit. The Trustees The Trustees who served the charity during the period were as follows: Rev. G Higgs A J Stephens V Jordan G Roe N J Morris B Griffithe M Coutts P Courtney (Resigned 3118120241 l Hodgins D Baker A Morris (Resigned 3118120241 E Warren M Beswelherick K Bosw$thori¢k l Oboh H Robins (Resigned 3118120241 E CouGh C Sado P Horn C Hodgins (Resigned 3118120241 Z Haydon Treasurer IRogign8d 3118J20241 J Morris H Mitchell C Smith J M Stephens L Slewarl IResigned 3118120241 (Resigned 3118120241 Advisors Other relevant organisation$ acting on behalf ol the charity are as follows.. Bankers-. Lloyds TSB Bank PIC 8 Royal Parade Plymouth P11 1HB
Plymoulh Methodlst Central Hall Trustees. Annual Report Solicitors Anthony Collins 76 King Street Manchester M2 4NH Accounlanls Prydis Accounis Lirniled The Parade Liskeard Cornwall PL14 6AF Oblectlves and actlvltles Objectives of the Charlty The objective ol the Church is to oller the love ol God in word and deed lo a11 those who will accept it. This is lo be achieved Ihrtsugh the documenl'Loeal Church Conslilulion and Practice,. Detsils ot related parties and ObjeIVes. Plymouth Mathodist Central Hall has a quasi-subsidiary, PMCH Developments, the objective ol which is lo provide Evangelical Outreach in an informal atmosphere. 11 achieves this by op&raling a walk-in caf&leria, called the Discovery Calé. The Church IMII subsidise this operation il necessary. The Central Hall continues lo oller a broad sp8clrum ol weekly aclivilies, ranging from Parent and Toddler Groups lo Young Adutt groups, over and above those ol worship that lie al the heart ol Central Hall's ministry. Slruclure. governance and manaaement. Organl$atlonal Structure The Charity i- run from thc Mcthodibt Cgntral Hall, Ea- -tlake Street, Plymouth. The church is responsible lo the Plymouth Melhodisl Mission Circuit. members ol the Church Council, and are appointed annually with the Trustee meetings held three limes each year. Appointment of Trustees Trustees are apwinled al the Annual General Church Meeting. Rlsk management Under the terms ol the risk management policy adopted by the oharity, the strategic, operational and financial risks lo which the charity is exposed are evaluated on a continuing basis and appropriate systems pul into place lo mitigate any major risks idenlilied. The Trustees are satisfied that the policy ol continual monitoring ol potential risks to which the charity is exposed is sullicient to identify those risks on a lirnely basis and lo ensure Ihal the appropriate action may be taken so as to minimise the perceived risk lo an acceptable level.
Plymouth Methodlst Central Hall Trustees. Annual Report Achievements and perfomiance This year Plymouth Methodist Cenlral I lall IPMCI 11, has Gontinued to seNe at the very heart of the commerGial, retail and sludenl life ol the city ol Plymouth. Much like the rest ol the cbly cenlre, PMCH has been open all day. every day Ihrciughoul the last year- exl&nding way beyond busy and vibrant Sunday worship which continues lo attract large congregations both in person and online. The Discovery Café and Plymouth Soft Play Calé being busSer than ever. weekly toddler groups continue lo see growir)g iiumbers. our Me55y Church has welcomed between 70-100 psople @ach month, with Friday night Youth Clubs, Family Game nights and weekly Blble sludles for both teenagers and adults all proving very popular. The building has been in conslanl use having established a reputation as a high-qualily city centre venue, hosting large numbers of events, conferences and concerts. We have also become the venue of choice lor many municipal events such as election polling slalion and vaccination centre due to our location and accessibility. In the last year, we have continued to focus our work around the areas established in Mission Action Plan and have been delighted lo see the church continue lo grow. We have been oncouraged to see many baptisms as well as people entering into membership ol the church. Al the end ol this year, we bid farewell to Rev Gareth Higgs as he left his role as Superintendent Minister al PMCH lo lake up a leaching role al Motsrland College. We have been greatly blessed to have Garelh, Laura and their family here in Plymouth lor the last 6 years and pray that God will continue lo bless them in their ministry. DLJring thi8 interregnum period, the south Weat Penin3ula Diatrict Chair, Rev Dan Haylott haa a33umed the role ol Superinlendenl Minister.
Plymouth Methodist Central Hall Trustees. Annual Report Financlal Revlew Incorne We have be&n blessed lo receive strong income lo support our ongoing mission and ministry in the past year. Offerings continued lo increase along with the Gill Aid claimable on such donations. We also received grants from a range ol organisalions and charitable funds that &nabl8d us to grow our stall team and meet increasing employment costs. We are grateful lor the commitment ol several lunders in providing mulli-year funding which enableg us lo plan ahead. Income from rentals also increased with lull occupancy ol all available tènancies, settling of long-term leases and the growth in the hiring ol our church and ancillary spaces lor more events, concerts and conferences. Ex endilure Salarias were the largest expense in the year- we continu8d to k8èp pae8 thè M&thodisl Church's comrnilmenl lo the Living Wage, whilst also appointing a lull lime Operations & Finance Off icer and full lime Youth Worker. Both roles have received significant grant funding support and are therefore sustainable additions lo our expenditure. The cost ol Ljtilities increased significantly in the year due lo fixed arrangements coming lo an end and the church now adjusting lo the higher energy larills on the markel. Flepairs and maintenance to the church buildino continuèd al a hiqher level, rÈflectinq the onqoinq demands ol our busy building and the need lo continue lo carry our repairs in line with Quinquennial inspection reports. We are delighted lo have maintained our commitment lo tithing in the year. blessing other organisations and charities with financial assistance to further the work ol G<'S kingdom. Going concern Based on the monetary assets and human resource available al 31 August 2024, 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 lo invest funds in any investments that they see lit. The policy is to adopt a low risk strategy whilst maximising returns. The Trustees are satisfied with the performance ol the investments held and that the policy adopted reTnains adequate and appropriate.
Plymouih Melhodist Central Hall Trustees. Annual Report Re$erves Pollcy The reserves policy lor the General Fund is as follows.. The church aims lo hold a reserve ol sufficient unreslricled and undesignaled funds lo cover six rnonlhs expenditure - approximately £150,000. The reasons lor this are:_ 11 The church needs approximately one month's average expenditure in reserve as working capital to cover normal running costs. 21 Maintenance costs, salaries and circuit assessmonts are spent in advance of being raised, hence the need lor a further five months reserve money. Actual unreslricled undesignated funds al the year end are £105.831 12023.. £124,783), ol which £105,831 is free reserves12023'. £124.7831. The Trustees will also continue to sel aside as designated funds such amounts 8$ are appropriatÈ to provide for all charitable requirernenls. Plons for future periods The Trustees do not expe¢l any ¢h2ng8s to tha charity's objectlV8s and ch3ritabl8 activitias in the forthcoming year, their aim will be lo continue lo provide an essential and valued seTvice in the communty. The annual report was approved by the Trustees of the Charity on L¥lilbi behalf by.. and signed on its Re Dan Haylett Trustee Dr l Hodgins Trustèe
Plymouth Melhodist Central Hall Trustees, Annual Report Statement of Tru$lee$' Responslbllltles The Trustees are responsible lor preparing Ihe Trustees. Annual Report and the financial slalemenls in aGGordanG¢ with th¢ United Kingdom Accounting tandardS (United l<ingdom C¢n¢rally A¢¢ept¢d Accounting Practice) and applicable law and regulations. The law applicable lo charities requires the Trustees lo prepare financial slalem8nls for 8ach financial year which give a true and lair view ol the slate ol allairs of the charity and ol the incoming resources and applieation ol resourcas ol the charily lor that period. In preparing thesa financial statem@nts,the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly. observe the methods and principles in the Charili&s SORP., make judgements and eslimales that are reasonable and prudent; stale whether applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial slalemenls., and prepare the financial slalemenls on the going concern basis unless il is inappropriate lo prestjme that the Charity will continue in business. The Trustees are r8sponsible for keeping proper accounting records that disclose with reasonable accuracy al any lime the financial position ol the eharity and enable them lo ensure that the financial statements comply with the Charities Act 2011, the appli¢able Charities IAcctsunts and Reports) Regulations, and the provisions ol the constitution. The Trustees are also responsible lor safeguarding the assets ol tho charity and hence lor taking reasonable steps lor the prevention and detection of fraud and other Irregularities. Approved by the Truglees ol the Charity on UL¥.ILI)t4. and sianed on ils behalf bv.. Rev. Dan Haylell Trustee Dr l Hodgins Trustee
Plymouth Methodlst Central Hall Consolidated Statement of Flnanclal Actlvlties (SOFA) lor the Year Ended 31 August 2024 Unrestricted tunds Restrlcted lunds Unrestrlcted funds Reslrlcted funds Not8 Total 2024 Tolal 2023 Income and Endowments Donations and legacies Olher charitable income Inl8rest and investm8nl income 221.602 468,170 2.397 221,602 468,170 2,473 186,889 429,147 1,420 186,889 42Q,147 1,466 76 Total income and endowments 692,170 76 692,246 617,456 617,502 Expendllure on charltable actlvltles Salaries and assoG1al£ Gosls Clr¢ull assessments Office expenses Property tnainienance Depreciation Olh8r èxp8ndilur8 Grants arKJ donation8 284,898 69,000 42,725 33,205 29,690 212,986 50.464 284,898 69,000 42,725 33,205 32,857 213.062 50,464 202,303 75,400 24,655 38,315 28,026 209,437 57,094 202,303 75,400 24,655 38,315 31,193 209,485 57,094 3,167 76 3,167 48 Total charltable expendltur 722,968 3.243 726,211 635,230 3,215 638.445 Net incomellexpendbturel for year {30,799) 13.16n 133,966} {17,7751 13.1691 120.9441 Transfers tween funds Nat mov8m8nt In fund8 130,799) 13,1671 133,9661 117,7751 13,1691 120.944} Roconclllatlon of funds Total lunds brou9ht forward Total funds carrled forward 2,OaJ,220 2,002,430 20,279 202.212 2,238 007 2,204,642 2,OJ1,003 2,033,228 208,548 2,259,551 205,379 2,238.607 All ol the Charlty's aclivllies deriva from coniinuing operations during the above two periods.
Plymouth Melhodlst Central Hall Con#olidated Balance Sheot as at 31 August 2024 Unreslrlcted Funds General Deslgnated Restilcted Funds Total 2024 Total 2023 Notes Fixed Assets Tangible fixed assets Investment properties Total Ilxed assets 54,221 603,020 1,250,000 1,853,020 136,166 793.407 1,250,000 2.043,407 801,434 1,250,000 2.051.434 54,221 136,166 Current Assets Stock Dèbtors Loans to the Circuit Investments with TMCP 13 14 14 700 17,723 700 17,723 64,608 44,819 64,742 192,592 600 23,682 64,608 42,725 71,420 203,035 64,608 1,438 43,381 21,162 82,966 Cash al 8ank and in hand Total current assels 43,580 43,580 66,046 Currènt liabilltles cditOrS (due in under 1 year) Tolal currgnl liabililies 17 31,357 31,357 31,357 31.357 15,862 15,862 Net eutTènt assèts 51.609 43.580 66.046 161.235 187.173 Net assets 105,830 1,896,600 202,212 2,204,642 2 238 607 Funds ol the Church Generai Fund Iunreslrictedl Designaled Funds Iunreslrictedl Tottyl Unreslrl¢ted Funds 105,831 105,831 1,896,600 2,002,430 124,783 1,908,445 2,033,228 1,896,600 1.896,6 105.831 Restricted Funds 19 202,212 202,212 205,379 Total Funds 105,831 1,896,600 202,212 2,204.642 2,238.607 The financial slaternents wer8 approv8d by thè Board and authorisa and slgned on ils behalf by.. or issua on v. Dan Haylett Trustee Dr1 Hodgins Trustee
Plymouth Methodlsl Central Hall rhiirvh BAl8nce. Shèèt as at 31 August 2024 Unmslrietad Fund$ G*nèral Deslgnaled Re3tricted Funds Tolal 2024 Total 2023 Nolos Fixed Asset5 Tangible lixed assets Investment propertie5 Total Ilxed assets 17.971 603,020 1,250,000 1.853,020 136,166 757,157 1,250,ODO 2.007.157 783,560 1,250,000 2,033.560 17.971 136,166 Currenl A$sei$ Debtors Loans lo the Circuit Investments wilh TMCP Cash at Bank and in hand 14 44,060 44,060 64,608 44,819 55,446 208,933 52.079 64,608 42,725 38,299 197,711 64,608 1,438 15 16 43,381 11,866 99,307 43,580 43,580 Totol current assets 66,046 CutTent Ilabllllle Creditors Idue in under 1 yèarl Total current liabilities 17 20,447 20,447 20,447 20,447 6,833 6.833 Net current assets 78,860 43,580 66,046 188,486 190,878 Net a$$et$ 96,831 1,896,600 202,212 2,195,643 2 224,438 Funds of the Church General Fund Iunrsslrictedl Designated Funds Iunreslricledl Total Unreslricled Funds 18 18 96.831 9S,831 1,896,600 1,993,431 110,614 1,908,445 2,019,059 1,896,600 1,896,600 96,831 RÈstiicted Funds 19 202.212 202.212 205.279 Total Funds 96,831 1,896.600 202,212 2,195,643 2.224,438 The linanual statèmènts were approved by the Board and authorls and sign8d on ils behalf by". forissuaon.£.t.ii1ts2................... Rev. Dan Haylett Trustee Dr l Hodgins Trustee
Plymouth Metho(list Cenlral H811 Notes to the Flnancial Statements lor the Year Ended 31 August 21J24 1 Accountlng framework and accounling policies Aocounting frarnework. The financial slalem&nts have been prepared in accordance with Accounting and Reporting by Charities.. Staterllenl ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191 Icharilies SOFIP IFRS 1021 and the Charities Act 2011. Basis of preparatlon The Plymouth Methodist Central hall meets the delinltlon ol publlc benefit èntity under FRS 102. Assets and liabiliiies are initially recognised al historical cost or transaction value unless otherwise staled in Ihe relevant accounting policy notes. Funds Unreslricled undesignaled funds are general funds available lor use al the discretion ol the Trustees in luriherance of the general obj8ctiv8s ol tha charity and which havè not b88n dèsignat8d lor any other purwse. Designated funds comprise unrestricted funds that have been set aside by the Trustees IOT particular purposes. The aim and use ol each designated fund is sel out in the notes to the financial slalemenl. Reslricled funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the charity lor particular purposes. The aim and use ol each restricted fund is sel out in Ihg note5 to the linaneial statement. Judgements and key sources of estlmatlon uncertainty In the application ol the I rust's accounting policies, vwhich are described In thig note. the Trustees are required to make judgements, estimales and assumptions about the carrying value of assets and liabilities that are not readily apparent from oiher sources. The eslimales and underlying assumptions are based on historically known laclors and experience. Therefore, the Trustees do not perceive there lo be any critical areas ol judgement or key sources ol eslimalion uncertainly in the formulation ol the financial -tatcmcnL. Basis of consolidatlon The consolidated financial slal8menls comprise the financial slalemenls ol Plymouth Melhodisl Central Hall and PMCH Developments as al the balance sheet dale. PMCH Developments is a company limited by guaranlee and rIStered in England & Wales. PMCH is con501idaled on the basis that membership ol the company is corrtrolled by the Plymouth Melhodisl Central Hall. Golng con¢ern Based on the monetary assets and human resource available at 31 ALJgusl 2024, the Trustees believe that the church is a going concern. 10
Plymouth Methodist Central Hall Notes lo the Flnanclal Statements for the Year Ended 31 August 2024 Incorne tOnItIOn Income is included in the Sialemenl ol Financial Activities when the Church becomes enifcled lo the income, il is more likely that the income will be received and the monetary value can be measured with Slifficienl reliability. In accordance with the Charitiès SORP IFRS 1021, the time ol volunteers is not registered. Expenditure This is recognised when a liability is incurred, or a constructive obligation arisas, that resutts in the payment being unavoidable. Liabilities are recognised as Soon as an outflow ol economic benefit is considered more likely than not under the legal or conslruclive obligation committing the Church lo pay out resources. VAT Since the church is not VAT registered, all input VAT is charged with the expenses to which is reters. Tangible flxed assets These are capilalised il they can be used lor more than one year, and individvally cost at least £500. They are initially recorded al cost, less any subsequent accumulated depreciation and impairment losses. Oaprecialion is provided on tangibl8 fixed assets so as to write oll the cost ovèr their expected useful economic lil& as bglow.. Asset class Church Improvements Plant and equiptnenl Depreciation method and rate 2Yo slraighl line 15- 25°/0 reducing balance Investments Fixed asset investments are initially valued al cost and subsequently al lair valug Iihgir market value al the year endl. Stocks Stocks held for resale are measured al the lower of cost OT net realisable value. Financial instruments Classmication The company holds the following linancial instruments.. Short term trade and tsther debtors and creditors., and Cash and bank balances. All financial instruments are classified as basic. Recognltlon and n7easurement The charity has chosen to apply the recognition and measurement principles in FFiS102. Financial instruments are recognised when the charity becomes party to the contractual provisions ol the inslrutllent al derecognised when in the case ol assets. the conlraclual rights lo cash flows from the assets expire or subslanlially all the risks and rewards ol ownership are transferred lo another party. or in the case ol liabilities, when the charity's obligations are discharged, expire or are cancelled. These instruments are initially measured al transaction price, including tTansaciion costs, and are subsequently carried al the undiscounled amount ol the cash or other consideralitsn expected lo be paid or received, aller taking account ol impairment adjuslmenls.
Plymouth Methodist Central Hall Notes to Ihe Flnanclal Statements for ihe Year Ended 31 Augusi 2024 2 Donations and legacies Unrestricted funds General DesignatÈd Rèstricted Total Fund5 Funds 2024 Unrestricled funds General Designaled Restricted Funds Total Funds 2023 Donations Gift Aid Ollerings 66.440 30.532 124.630 66,440 30,532 124.630 33,366 29,451 124,072 33,366 29,451 124,072 221.602 221,602 186,889 186,889 3 Other charitable income Unrestiicted fund$ General Designatèd RÈstrietèd Total Fund$ Funds 2024 UnrÈstrictèd fLEnds General Dèsignatèd Rè$tricted Funds Total Funds 2023 Income from Church Org. Café Lettings Sofi Play 75,095 75,095 218,762 153,313 21,000 468,170 75,556 75,556 192,639 140,453 20,500 429,147 218.762 153,313 21,000 393.075 192,639 140,453 20,500 353,592 75.095 75,556 4 Investment Income Investment income Includes bank interest received. S Other Income Other income includes income from special events and other SLJndry receipts. 6 Truslee$' remuneratlon and expenses During the year, Tru51ees received remuneration lolalling £Nil12023'. £Nill- No benefits in kind were received by Trustees. One ol the Trustees ol the Charity is remunerated through the Plymouth Melhodisl Mission Circuit. No expenses were repaid lo Trustees. 7 Salarie$ and assoclated costs Gross salaries paid lo employees werg as follows= 2024 2023 Gross pay Employ¢r's National Insurance contributions Employer's pension contributions to defined contribution schemes Tolal staff costs (unrestricted funds) Le8s- arnounls presented in other expenditure Salaries and a$$oeiated costs per SOFA 278,985 17,997 13,624 310,606 25,708 284.898 206,857 9,729 228,197 25,894 202 303 No employee received emoluments ol more that £60,00012023'. none). No remuneration was received by the key management personnel of the charity. Partlculars of employees.. The average numb8r of staff employed by the charty during the year amounted to.. 2024 No. 2023 No. 20 Number of staff 12
Plymoulh Method1 Central Hall Notes to the Financial Stalementg for the Year Ended 31 August 2024 Penslons The ¢hur¢h operates a defined ¢onlribulion pension scheme. The pension cost charge lor the year rèpresents conlribulions payable by the church lo thè scheme and amounted 10 £13,62412023.. £9.7291. 8 Other expenditure Unr•strlct•d funds General Designaled Rèstricted Total Funds Funds 2024 Unrestricted lund$ General Designated Restrlct•d Total Funds Funds 2023 Phone Printing & Stationery Cleaning Minibus Hir8 Bank Charges Café costs Sundry costs Expenditure for Church 4,714 4,714 4,471 4,471 7,070 7,070 7,544 7.544 14,418 305 271 99,341 11,952 14,418 305 347 99,341 11.952 9.649 1,530 356 89,033 10.757 9,649 1,530 404 89,033 10.757 76 48 68,760 88,760 66,565 66.565 Independent examiner accountancy fee Independent examination fee 1,400 1,400 2,000 2,000 1,000 1,01)O 1,000 1.000 SWYM Professional lees Loss on Disposal Total 3,755 3,755 4,245 12,068 220 142,872 4,245 12,068 220 209,485 144,226 68,760 76 213,062 66,565 48 Professlonal fees 2024 2023 Professional lees Total 12,068 12,068 9 Grants and donations Unrestrlcted fund$ General De31gnated Restricted Tot81 Funds Funds 2024 Unrestricted funds Geneyal Designaled Restrlcted Total Funds Funds 2023 Youth Flats Evangelism Worship Team Tithes paid out Total 9,705 5,390 2.443 2,877 30,048 50,464 9,705 5,390 2,443 2.877 20,048 50,464 8.853 9,318 2,559 4,876 31,488 57.094 8,853 9,318 2,559 4,876 31,488 57.094 13
Plymouth Methodist Central Hall Noles to the Financial Stalemenlg for the Year Ended 31 August 2024 10 Subsidiary underlaklng The charilv has a quasi subsidiary. PMCH Development8, a company reoistered in Eno18nd and Wales which undertakes trading aclivilies. Registered ollice is Plymouth Melhodisl Central Hall, Easllake Street, Plymouth, PL2 1 BA. The charity has control as three ol th8 Trustees of the charity are Directors ol the company but receive no remuneration. 2024 2023 Aggregate assets Aggregale liabilities Aggregate funds 46.147 37,249 8,898 51,595 37,426 14,169 Turnciver Expenditure ProliVILossl lor the year 213,842 219,013 5.171 187,919 181,737 6,182 11 Tanglblo Flx8d Assets - Group Church Improvemen15 (Deslgnatedl Church Plant & Improvements Equipment {Restrlcted) IUnrestrl¢tedl Total Cost or valuation As 1 September 2023 Addilions Disposals At 31 August 2024 909,054 158,335 97,719 24,830 1,165,108 24,830 909,054 158,335 122,549 1,189,938 Deprecialion As al 1 September 2023 Charge for the year Depreciation eliminated on disposal At 21 August 2024 287,853 18,181 19,002 3,167 56,819 11,509 363,674 32,857 306,034 22,169 68,328 396,531 Net book value At 31 August 2024 At 31 August 2023 603,020 621,201 136.166 139,333 54.221 40,900 793,407 801,434 Tangible Fixed Assels - Church Cost or valuallon As 1 September 2023 Additions Disposals At 31 August 2024 909,054 158,335 49,106 1,116,495 909,054 158,335 49,106 1,116,495 Depreciation As al 1 Saptamb&r 2023 Charge lor tho year D8preciation eliminated on disposal Al $1 Auuust 2024 287,853 18.181 19,002 3,167 26,080 5,055 332,935 26,403 306,034 22,169 31,135 359,338 Net book valu• Al 31 August 2024 At 31 August 2023 603,020 621,201 136,166 139,333 17,971 23,026 757,157 783,560 14
Plymouth Methodist Central Hall Notes to the Financial Statemenls for the Year Ended 31 August 2024 12 Investments Investment Propertleg Fair value as al 1 September 2023 and 31 Augusl 2024 1,250,000 Historical cost 736,066 The investment propety is a complex ol shops and cafes. The lair value is based upon the Truslees. best eslimate and not the opinion of an indendent valuer. 13 Stock ChUh 2024 2023 Group 2024 2023 Stock 700 600 14 Debtors and prepayments Church 2024 2023 Group 2024 2023 Prepayments and accrued income Cir¢uil re Iv1anses Prepaid assessments Amounts owed by group undertakings Other prepayrnenls Accrued income Total 64,608 1,780 26.337 4,104 11,839 108 668 64,608 17.500 28,397 4,104 2,078 116 687 64,608 1.780 64,608 17,500 4,104 11,839 4,104 2,078 15 Trustees tor Methodist Church Purp03e3 The funds that support the church and various olh8r funds are held by TMCP in Trustees Interest Funds on which interest is credited lo the accounts each month. These are regarded as medium and long term inveslmenls. TMCP is the legal owner and custodian Trustee ol all Methodist Model Tmsl property, including Legacies, Endowments and Accumulated Funds. Trust property is held lor and on behalf ol local Managing Trustees who are responsible lor the day to day management ol the trust property. TMCP ensure that, through providing guidance and acting under their direction, the managing Trustees comply with the charity law and Melhodisl law and policy as determined by the Methodist conference. 16 Central Flnance Board {CFB) and Cash at Bank The church has current ar deposit accounts al Lloyds Bank, an aulhorised inslilulion. The sums held on these accounts are imrnediately available. In addition the church has a COIF Charitiès Deposit Fund. Interest is earned on this account and credited quarterly,. the sums deposited can be withdrawn wilhoul notice and wilhoul loss ol interest. These sums are ewed as being liquid. 35
Plymouth Methodist Central Hall Noles lo the Financial Statements lor the Year Ended 31 Augusl 2024 17 Creditors.. Amounts falling due within one year Church 2024 Group 2024 2023 2023 Other Creditors Accruals Total 17,447 3,000 20,447 3,833 3,000 6,833 27,457 3,900 31,357 11,962 3,900 15.862 11 is expected that all accruals and other creditors as al 31 August 2024 wll be paid during the year to 31 August 2025. Deferred income relates lo rental income which is paid in advance. 2024 2023 Deferred Sncome brought forward Accrued income brought forward Rental income received in the year Deferred income carried forward Accrued income carried forward Rental income recognised in the year 12.0781 155,391 14,4941 142,869 2,078 140,453 153,313 18 Unrestrlcted Funds General Fund The purpose ol the fund is for use al the discretion ol the Trustees in the furtherance ol the general objectives ol the church and which have not been designated lor other PLJrposes. Dgsignated Fund De19ntcd fund- includc the invc- -tment propcrty of È1 fj50,000 which i7 h¢ld to g¢n¢rat¢ ir)¢om¢ lor Ihe church. Income and expenditure lor the church organisations are included in the bank accounts. However. each group or service run by Plymouth Melhodisl Central Hall has separately identified funds and therefore they are Irealed 8S designaled funds. Church improvements relate lo the nel book value ol Church improvements within the balance sheet. These include the costs ol redevelopments over the years and historical improvements which have been transferred from general funds as they are not liquid assets. Worship facilities relate lo funds Ihal have been transferred to designated funds to cover the ongoing costs of rÈpairing and renewing the music inlraslruclure and to Ljpgrade the power point and cabling system. 19 Reslrlcted Funds The Reg Walker Mernorial Fund is reslricled as il is lor the purchase of books for theological training only. Also included within Reslricled funds is the amount due from the circuit in respect ol the value ol the manse property that was transferred from Fixed Assets during the year ending 31 August 2013. There are no plans lo dispose ol the propety in the near future. The Hall Relurbishmenl restricted funds were lo be used lor the relurbishmont ol the Methodist Hall.
Plymoulh Melhodlst Central Hall Notes io the Flnancial Statements tor the Year Ended 31 August 2024 20 Analysls of funds - Group Balance as at Incoming Outgoing 0110912023 Resources Resources Balance as at 3110812024 Transfers Unrestrlcted Undesignated P M C H Developments Future Developments Fund General funds 8,930 24,870 90,983 124,783 213,842 1219,0131 3,759 24,870 77,202 105,831 403,308 617,150 1417,0901 1636.1031 Unrestrlcted Deslgnated Investment property Funds held on behail ol.. Church organisalions Church improvements Worship facilities 1,250,000 1,250,000 25,459 75,095 168,7601 118,1811 31,795 621.201 11,785 1,908,445 603,020 11,785 1,896,600 75,095 88,941 Restricled fund$ Reg Walker Momorial FLJnds Hall Flelurbishmenl Debtor re Manse Properly 1.438 139,333 64,608 205,379 1,438 136,166 64,608 202,212 13,1671 3,167 Total Funds 2,238,607 692,246 726,211 2.204,642 Balance as at Incomlng Oulgolng 0110912022 Resources Resources Balance as al 3110812023 Transfers Unroslricted Undosignated P M C H Developments Future Developments Fund General funds 2,748 24,870 105,749 133,367 187,919 1181,7371 8,930 24,870 90,983 124,783 353,981 541,900 1368,7471 1550,4841 Unreslrictod Designatod Investment property Funds held on behalf of.. Church organigalbons Church improvements Worship facilities 1,250,000 1,250,000 16.469 75.556 166.5651 639,382 11,785 1,917.636 118,1811 621,201 11,785 1,908,445 75.556 84,746 Restricted funds Fleg Walker Memorial Funds Hall Relurbishmenl Debtor re Manse Property 1,4dO 142,500 64,608 208,548 46 1481 13,1671 1,438 139,323 64,808 205,379 46 3,215 Total Fund$ 2,259,551 617,502 638,445 2,238,607 The movement in funds lor the Charity only excludes the P M C H Developmgnts fund abov8.
Plymouth Methodist Central Hall Notes to the Financial Statements for the Year Ended 31 Augusl 2024 21 Nel assets by tund Unre$trlcted funds Restricted Tolal funds Funds 2024 Unrestricted Restricted Total Funds funds Funds 2023 Tangible assets Fixed Investments Current Assets Credilors < 1 year Net assets 657,241 1,250,000 126,546 31,357 2.002,430 136,166 793,407 1.250,000 192,592 31,357 2,204,642 662,101 1,250,000 136,989 15,862 2.033.228 139,333 801,434 1.250,000 203,035 15,862 2,238,607 66,046 66,046 202,212 205.379 22 Volunteer contrlbutions Every enlily Iconnexion, District, Circuit, Church) within the Melhodisl Church in GB is heavily reliant on volunteers who contribute their skills, lime and money in the furtherance work ol the church. We are grateful lo all ol them for their help and commitment. 23 Related party transactions P M C H Developments - A company limited by guarantee Iconlrolled by Plymouth Melh(xlist Central Hall). During the year the church paid expenses on behalf ol the company lolalling £nil12023.. £nill. Al the year end the company owed the church £26,33712023-. £28,3971. Loans to the group undertakings are interest free and repayable on demand. Plymouth Methodist Mlsslon Clrcuit During the year the Charity provided cir¢uil assesmenls tolalling £69,00012023'. £75,400). At the year end th& Mission Circuit owed lo the Central Hall £64,60812023.' £64,6081. Thi5 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 ol the Trustees throughout the financial year. 25 Taxation The TrLJSt is consldered lo pass the lesls set out in Paragraph 1 Schedule 6 01 the Finance Act 2010 and Iherelore il meets the definition ol a charitable company lor UK corporation lax purposes. Accordingly, the Trust is potentially exempl from laxalion in respect ol income or capital gains received within categories covered by Chapter 3 Parl 11 ol the Corporation Tax Acl 2010 or Section 256 of the Taxation ol Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively to charitable purposes.
Plymouth Methodist Central Hall DeGlarallons and Scrutiny I confirm that these accruals-based accounts lor the year to 31 August 2024 have been prepared Irorll the records ol the Church and Ihal they include all funds under th& control of the Church. Signature ol Treasijrer Dale Name of Treasurer IA&J IL>L, I IÈ L Y fvblLICLL Address ol Treasurer Presentation to the Church Councll I confirm that the annual report and accounts lor the year ended 31 August 2024 were, or will be, presented lo the meeting ol th8 Church Iruslees held on Signature ol the Ch I the meeting Name ol the Chair of the meeting Dat pfv klkivLrr delete or cirele as appropriate 19
Independent Examiner's Report lo the Trustees of the Plymouth Methodist Central Hall I report lo the charity Trustees on my examillation ol the accounts ol the Group comprising the PlymoLJlh Methodist Central Hall Iihe Trust) and ils subsidiary undelakings lor the year ended 31 August 2024. Responsibilities and basis of reporl As the charity Iruslees of the Trust you are responsible lor the preparation of the accounts in accordance with the requirements ol the Charities Act 2011 llhe Act'l. I report in respect ot my examination ol the Trust's accounts carried out under Section 145 01 the 2011 Act and in carr5ring out my examination I have followed all the applicable directions given by the Charity Commission under section 14515llbl ol the Act. Independent examlner's statement Since thè Charity's gross income @xceeded £250,000 your èxaminèr must bè a mèmbèr of a body listed in section 145 01 the 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of the Institute ol Chart&red Accounlanls in England and Wales. which is one ol the listed bodies. I have completed my examination. I 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 ol the Act., or 2. the accounts do not accord with those records-, or 3. the accounts do not comply with the applicable requirements ¢oncernino the lorrn and ¢onlenl ol accounts sel out in the Charities (Accounts and Reports) Regulations 2008 oiher than any requirenienl Ihat the accounts give a 'true and lair view whiGh 18 not a matter Gonsidered as part ol an independent examination. 4 the Iruslees, annual report is not consislenl with the accounts I have no concerns and have come across no other matters in connections with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding ol the accounts lo be Signed.. Dale.. Name.. Address: Gary Randall ACA Prydis Accounts Ltd The Parade Liskeard Cornwall PL14 6AF 20
Plymouth Melhodlst Central Hall for the Year Ended 31 August 2024 The following pages do not form part of the statulory consolidated financial statemenls. 21
PLYMOUTH METHODIST CENTRAL HALL DETAILED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2024 2024 2023 Income Offerings Grant Gilt Aid Gill day donations Solar Income Rental income Interest Reimbursetllents and sundry income YoLJth Work PMCH Developments Income from Church organisalions Soft Play CJFIS grant 110,587 49,254 30,532 14,043 6,647 153,313 2,473 8,162 2.377 218,762 75,095 21,000 103,624 24.500 29,451 20.448 140,453 1,466 4,714 4,152 192,639 75,556 20,500 Total Income 692,246 617,502 Direct charltable expendlture Youth Work Worship & evangelism Grants and donations Wages and salaries 9,705 5,319 30,048 284,898 32,484 5,390 10,241 33,205 8,853 7,435 31,488 202,303 15,946 9,318 8,710 33,439 4,876 75,400 1,530 9,649 4,471 Fiais Insurance Repairs and maintenance Repairs - commercial properly Circuit assessment Minibus Hire Cleaning Telephone and technology costs Postage and tlY cash oxponditur Sundries and safeguarding Printing and stationary Bank Charges SWYM Expenditure lor church organisations PMCH Developments Depreciation of fixed assets Loss on Disposal 69,000 305 14,418 4,714 11,950 7,070 347 3,755 68,760 99,343 32,857 10,755 7.544 404 4,245 66,565 89,035 31,193 220 723.811 623,377 Management and adminlstratlon Accountancy and examination lees Professional lees 2,400 3,000 12,068 2,400 15,068 Total expenditure 726,211 638,445 Net surpluslldeficit) for the year 33.965 22
PLYMOUTH METHODIST CENTRAL HALL CHURCH STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2024 2024 2023 Income Offerings Grant Gift Aid Gift day donations Solar Income Rental in¢ome Interest Reimbursements and sundry income Youth Work PMGH Developments Income from Church organisations Soll Play CJRS grant 110,587 49,254 30,532 14,043 6,647 153,313 2,473 8,162 2,377 4,920 75,095 21,000 103,624 24,500 29,451 20,448 140,453 1,486 4,714 4,152 4,720 75,556 20,500 Total Income 478N04 429,583 Dlrect charitablg exponditure Youth Work Worship & evangelism Grants and donations Wages and salaries 9,705 5,319 30,048 171,6 32,484 5.390 10,241 33,205 8,853 7,435 31,488 112,893 15,946 ,Ji 8,710 33,439 4,876 75,400 1.530 9,649 4,471 Fla15 Insurance Repairs and maintenance Repairs - commercial properly Circuit assessment Minibus Hire Cleaning Telephone and technology costs Postage and potty cash oxpendilure Sundries and safeguarding Printing and stationary Bank Charges SWYM Expenditure lor church organisalions Depreciation ol fixed assets Loss on Disposal 69,000 305 14,418 4.714 11,950 7,070 347 3,755 68,760 26,403 10.755 7,544 404 4,245 66,565 27,901 220 504,799 441640 Management and administratlon Accountancy and examination lees Profossional lees 2,400 3.000 12,068 2,400 15.068 Total expenditure 507,199 456,708 Net surplusl{deflcltl for the year 28,795) 127,126 23