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2023-08-31-accounts

Charity registration number 1127649

TRINITY METHODIST CHURCH, EAST GRINSTEAD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

TRINITY METHODIST CHURCH, EAST GRINSTEAD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees ABentley
S H Bruce
J W Starling
RADewar
J Hewer
RJ Starling
J Brooks
M P Bruce
M Brooks
PFox
S Shaw
P Swan
POakley
M Cunningham
C Hodder
S Walker
G Bradbury
LHope
AJordan
EHagan (Appointed 11 June2023)
JRoxburgh (Appointed 11 June2023)
RevB Scrivens (Appointed 1 September2023)
KJones (Appointed 11 June2023)
Charity number 1127649
Principal address Lingfield Road
East Grinstead
West Sussex
RH19 2HA
Independentexaminer DarrenHardingACAFCCA DChA
Richard Place Dobson Services Limited
1-7 StationRoad
Crawley
West Sussex
RH101HT

TRINITY METHODIST CHURCH, EAST GRINSTEAD

CONTENTS

Page
Trustees’ report 1-3
Independent examiner's report 4
Statement offinancial activities 5-6
Balance sheet 7
Notestothefinancialstatements 8-18

TRINITY METHODIST CHURCH, EAST GRINSTEAD TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2023

The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's Deed of Union (1932) and Methodist Church Act (1976), the Charities Act 2011 and "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).

Objectives and activities

The purposes of the Methodist Church are and shall be deemed to have been since the date of union the advancement of:

A. The Christian faith in accordance with the doctrinal standards and the discipline of the Methodist church; B. Any charitable purpose for the time being of any connexional district, circuit, local or other organisation of the Methodist Church;

Our vision is to "know God and to make Him known". We are committed to sharing the Gospel in the local community; to increasing the fellowship of believers and making disciples, members and leaders.

We believe the Bible is the inspired word of God. Jesus Christ is the only Son of God. By prayer, Bible study and listening to His voice, the Holy Spirit equips us to do the will of God. Everything we do should give glory to God.

It is our aim to:

Our objectives are:

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« The provision of regular acts of worship that are open to members of the Church and non-members alike.
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Public benefit

The Trustees have referred to the guidance in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives in planning its future activities. In particular, they have considered how planned activities will contribute to the aims and objectives they have set.

Achievements and performance

The Annual Church Reports prepared for the Annual Church Meeting in June 2023 details many of the achievements and performances of the Church for the year to 31st August 2023.

page |

TRINITY METHODIST CHURCH, EAST GRINSTEAD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

Financial review

The Church's income comes mainly from offerings, donations, tax-efficient giving and hiring out of facilities. Expenditure is primarily on Church administration, the Annual Circuit Assessment, Church activities, donations within Methodism and externally, and maintenance of the premises. The Circuit provides ministry for the Circuit churches, including stipends and accommodation.

The loan from Redhill Methodist Church, which enabled us to complete the re-building of our premises, was repaid in November with a final payment of £42,500,

It was agreed by the Trustees to utilise £5,000 of the Roundabout Fund, which represents the funds remaining when the Church’s Pre-School closed in 2016, to support the setting up and running of Messy Church. A further £12,445 of the Roundabout Fund was used for the installation of Solar Panels in May 23 to enable the Church to be more environmentally friendly. They will also reduce the Church’s energy bills going forward. This financial year there was a surplus of unrestricted funds, therefore the estimated energy savings of £1,203 was transferred back into the Roundabout Fund, In the future the Church are considering using funds in the Roundabout Fund to purchase batteries to store any excess electricity generated by the solar panels.

The Church Accounts include the activities of internal organisations.

When possible funds are invested in a deposit account with the Central Finance Board of the Methodist Church, which provides investment management services to churches.

The Church has a comprehensive insurance policy with Methodist Insurance plc. The Trustees for Methodist Church Purposes act as custodian trustees for the church property, and provide support within their remit.

The statement of Financial Activities on page 5 shows net income resources for the year totalled £19,596 (2022: £20,123 net outgoing resources),

Reserves Policy

The Reserve for the General Fund, excluding the net value of tangible fixed assets and the investment property which are illiquid funds, is held against future expenses and amounts to between 50% - 100% of the Church's annual expenditure.

In November 2021, at the request of The Methodist Conference of 2021, a voluntary contribution of £20,000 was made to The Methodist Pension Reserve Fund. Although this reduced the Church’s reserves, they remain strong at 68% of budgeted annual expenditure.

FUTURE PLANS

We continue to use our premises to worship the Lord and welcome the Holy Spirit, through a variety of services and acts of worship, We have a vision to strengthen and grow our fellowship in terms of faith, knowledge, numbers, spirituality and passion for Jesus. We also plan to continue reaching out and serving our town community in as many ways as we can, making full use of our excellent facilities. In September 23 a new minister, Rev Ben Scrivens, will join the circuit. He will have pastoral oversight for Trinity Methodist Church.

Structure, governance and management

A Bentley S H Bruce JW Starling RA Dewar J Hewer R J Starling J Collins (Resigned 11 June 2023) J Brooks M Collins (Resigned 11 June 2023) E Dickenson (Resigned 30 December 2023) M P Bruce

page 2

TRINITY METHODIST CHURCH, EAST GRINSTEAD

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

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||||||| |---|---|---|---|---|---| |M|Brooks| |Rev N|Browning|(Resigned|11|June 2023)| |P|Fox| |L Fox|(Resigned|11|June|2023)| |S|Shaw| |P Swan| |P Oakley| |M Cunningham| |C|Hodder| |S|Walker| |G|Bradbury| |L Hope| |A Brown|(Resigned|12 May|2023)| |A Jordan| |N|Jones|(Resigned|11|June|2023)| |Rev E|Brooks|(Resigned|31|August|2023)| |Rev B|Slatter|(Resigned|31|August|2023)| |E Hagan|(Appointed|11|June 2023)| |J Roxburgh|(Appointed|11|June|2023)| |Rev B|Scrivens|(Appointed|||September 2023)| |K Jones|(Appointed|11|June|2023)|

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Recruitment and appointment of new trustees

Trustees are appointed by the Church Council at the Annual Church Meeting. Some Trustees occupy specific positions eg Treasurer, Church Steward. Potential trustees are invited to serve by direct approach from the Chairman or Church Steward, although an advertisement may be placed in the Church magazine or newsletter if specialist skills are required. Induction and training are handled by the previous occupant of the post, or the Church Stewards.

Organisational Structure

The Church Council, whose members are the Trustees, has authority and oversight over the whole ministry of the church, including management of the property. Aims and methods, the determination and pursuit of policy and the development of its available resources are its proper responsibility. It has appointed a number of committees - Finance, Property, Pastoral, Outreach and Youth - which have authority in their own areas of responsibility to initiate action, co-ordinate work done in the Church, advise the Church Council and report to it.

Key Management Remuneration

There are no key management employed by the Church. For all employees the Methodist Church Lay Employee pay rates are used to determine pay rates.

Use of Volunteers

The Church by its very nature is largely supported and run by volunteers, and it could not function without them. The Church only uses paid staff when a role is too onerous for a volunteer to handle.

The trustees' report was approved by the Board of Trustees.

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4
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Rev B Scrivens

Trustee, Dated: Spf 24.

page 3

TRINITY METHODIST CHURCH, EAST GRINSTEAD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TRINITY METHODIST CHURCH, EAST GRINSTEAD

I report to the trustees on my examination of the financial statements of Trinity Methodist Church, East Grinstead (the charity) for the year ended 31 August 2023.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act,

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after | January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited Chartered Accountants 1-7 Station Road

Crawley West Sussex RH10 1HT

Dated: oo... eesesteseerees

page 4

TRINITY METHODIST CHURCH, EAST GRINSTEAD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Current financial year
Unrestricted Unrestricted Restricted Total Total
funds funds funds
general designated
2023 2023 2023 2023 2022
Notes £ £ £ £ £
Income and endowments from:
Donations and offerings 3 90,585 110 19,363 110,058 114,734
Lettings and investmentincome 4 44,013 - - 44,013 40,844
Other income and internal
organisations 5 2,165 15,708 242 18,115 6,945
Total income 136,763 15,818 19,605 172,186 162,523
Expenditure on:
Raising funds
Charitable activities 6 119,782 29,509 3,299 152,590 182,646
Net incoming/(outgoing) resources before
transfers 16,981 (13,691) 16,306 19,596 (20,123)
Gross transfers between funds (4,190) 41,132 (36,942) - -
Netincome/(expenditure) forthe year/
Netmovement in funds 12,791 27,441 (20,636) 19,596 (20,123)
Fundbalances at 1 September2022 81,588 2,942,618 56,500 3,080,706 3,100,829
Fundbalancesat31August2023 94,379 2,970,059 35,864 3,100,302 3,080,706

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

page 5

TRINITY METHODIST CHURCH, EAST GRINSTEAD

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2023

Prior financialyear
Unrestricted Unrestricted Restricted Tota!
funds funds funds
general designated
2022 2022 2022 2022
Notes £ £ £ £
Income and endowments from:
Donations andofferings 3 75,776 148 38,810 114,734
Lettings and investment income 4 40,844 - - 40,844
Otherincome and internal organisations 5 730 6,027 188 6,945
Total income 117,350 6,175 38,998 162,523
Expenditure on:
Raising funds
Charitable activities		 6 137,220 20,663 24,763 182,646
Netincoming/(outgoing) resources beforetransfers (19,870) (14,488) 14,235 (20,123)
Gross transfers between funds (2,549) 47,279 (44,730) -
Netincome/(expenditure) fortheyear/
Netmovement in funds (22,419) 32,791 (30,495) (20,123)
Fundbalances at 1 September2021 104,007 2,909,827 86,995 3,100,829
Fundbalancesat31August2022 81,588 2,942,618 56,500 3,080,706

OTST

page 6

TRINITY METHODIST CHURCH, EAST GRINSTEAD

BALANCE SHEET

AS AT 31 AUGUST 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets lt 2,953,769 2,955,506
Current assets
Debtors 12 21,136 21,528
Cash atbankand in hand 153,384 165,164
174,520 186,692
Creditors: amounts falling due within one
year 14 (27,987) (61,492)
Net current assets 146,533 125,200
Total assets less current liabilities 3,100,302 3,080,706
Income funds
Restricted funds 15 35,864 56,500
Unrestricted funds
Designated fund 2,970,059 2,942,618
16 2,970,059 2,942,618
General unrestricted funds 94,379 $1,588
3,064,438 3,024,206
3,100,302 3,080,706

The financial statements were approved by the Trustees on B/3/24..

A Bentley Rev B Scrivens Trustee Trustee

page 7

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

Charity information

Trinity Methodist Church, East Grinstead is a public benefit entity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Deed of Union (1932) and Methodist Church Act (1976), the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 | January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement ofCash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view, This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

12 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concer basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds are at the discretion of the trustees and can be created if there is a specific project/objective that they wish to spend funds on.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income All incoming resources are included in the statement of financial activities when the charity is entitled to, and virtually certain to receive the income and the amount can be quantified with reasonable accuracy.

Voluntary income received by grants, donations, offerings and legacies are included in full in the Statement of Financial Activities when receivable.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Investment income is included when receivable.

Other income includes income from Internal Organisations and is recognised when it is receivable.

page 8

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

(Continued)

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:

Expenditure on charitable activities includes the provision of ministry and their associated support costs.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include premises and office related costs, and governance costs which support the charity's activities. These costs have been allocated to expenditure on charitable activities. The allocation of support costs is analysed in note 7.

Governance costs include those incurred in the governance by the trustees of the charity's assets and are primarily associated with constitutional and statutory requirements of operating the charity. Governance costs are included within support costs and allocated to charitable activity costs.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Fixtures, fittings and equipment are depreciated over 10 years on a straight line basis.

In accordance with Church Council rules buildings value in the accounts is based on insurance value.

No depreciation is charged in the accounts for freehold buildings on the basis that the residual value of the buildings exceeds the cost and any depreciation charge would be immaterial.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities,

page 9

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

1 Accounting policies

(Continued)

1.9 Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basicfinancial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basicfinancial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition offinancial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1,10 Taxation

The charity is not subject to corporation tax or any other taxes on income or gains arising from its charitable objectives.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates,

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

Valuation of Buildings

Buildings are included in the accounts at historic cost. No depreciation is charged on the building on the basis that the estimated residual value is in excess of the cost included in the accounts and depreciation would be immaterial.

page 10

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

3 Donations and offerings

. Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2023 2023 2023 2023
£ £ £ £
Donations and offerings 90,585 110 19,363 110,058
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2022 2022 2022 2022
£ £ £ £
Donations and offerings 75,776 148 38,810 114,734
Unrestricted Unrestricted
funds funds
general general
2023 2022
£ £
Rental income 41,016 40,413
Interest receivable 2,997 431
44,013 40,844
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2023 2023 2023 2023
£ £ £ £
Other income 2,165 - 242 2,407
Internal Organisations - 15,708 - 15,708
2,165 15,708 242 18,115

page 11

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

5 Otherincomeand internal organisations Otherincomeand internal organisations (Continued)
Unrestricted Unrestricted Restricted Total
funds funds funds
general designated
2022 2022 2022 2022
£ £ £ £
Other income 730 - 188 918
Internal Organisations - 6,027 - 6,027
730 6,027 188 6,945
6 Charitable activities
Circuit Donations- Provision of Governance Total Total
assessmentor Tithes Ministry costs 2023 2022
share
2023 2023 2023 2023
£ £ £ £ £ £
Depreciationand
impairment - - 17,168 - 17,168 15,625
CircuitAssessment share 60,002 - - - 60,002 60,000
Donations -Tithes - 15,075 - - 15,075 56,431
Provision ofMinistry - - 17,835 - 17,835 21,047
Insurance and Utilities - - 23,102 - 23,102 19,441
OtherExpenses - - 4,667 - 4,667 2,964
Internal Organisations - - - 12,341 12,341 5,038
60,002 15,075 62,772 12,341 150,190 180,546
Share ofgovernance costs
(see note 7) - - 2,400 - 2,400 2,100
60,002 15,075 65,172 12,341 152,590 182,646
Analysis byfund
Unrestricted funds -
general 60,002 13,049 46,731 - 119,782 137,220
Unrestricted funds -
designated - - 17,168 12,341 29,509 20,663
Restrictedfunds - 2,026 1,273 - 3,299 24,763
60,002 15,075 65,172 12,341 152,590 182,646

page 12

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

6 Charitable activities

(Continued)

For the year ended 31 August 2022

Circuit Donations- Donations- Provision of Governance Total
assessment or Tithes Ministry costs 2022
sharg £ £ £ £
Depreciation and impairment - - 15,625 - 15,625
CircuitAssessment share 60,000 - - - 60,000
Donations - Tithes " 56,43 1 - - 56,431
Provision ofMinistry - - 21,047 - 21,047
Insurance and Utilities - - 19,441 - 19,441
OtherExpenses - - 2,964 - 2,964
Internal Organisations - - - 5,038 5,038
60,000 56,431 59,077 5,038 180,546
Shareofgovernance costs (see note 7) - - 2,100 - 2,100
60,000 56,431 61,177 5,038 182,646
Analysis by fund
Unrestricted funds - general 60,000 31,693 45,527 - 137,220
Unrestricted funds - designated - - 15,625 5,038 20,663
Restricted funds - 24,738 25 - 24,763
60,000 56,431 61,177 5,038 182,646
7 Support costs
Supportcosts Governance 2023 2022
costs
£ £ £ £
Independent Examiners fee - 2,400 2,400 2,100
- 2,400 2,400 2,100
Analysed between
Charitableactivities - 2,400 2,400 2,100

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

page 13

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023

9 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
1

During the year £6,977 (2022: £6,370) was paid out in wages. There were no social security costs or pension payments made in either year.

Key management personne! are considered to be trustees.

There were no employees whose annual remuneration was more than £60,000.

10 = Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

11 = Tangible fixed assets

Tangible fixed assets
Land andFixtures, Fixtures, fittings Total
buildings & equipment
£ £ £
Cost
At I September2022 2,900,000 171,457 3,071,457
Additions - 15,431 15,431
At 31 August2023 2,900,000 186,888 3,086,888
Depreciation and impairment
At 1 September2022 - 115,951 115,951
Depreciation charged in theyear - 17,168 17,168
At 31 August 2023 - 133,119 133,119
Carrying amount
At 31 August2023 2,900,000 53,769 2,953,769
At31August 2022 2,900,000 55,506 2,955,506

All Methodist Churches are owned by trustees for Methodist church purposes of Central buildings, Oldham Street, Manchester. The cost of acquiring the property and any development work are reflected in the accounts of Trinity Methodist Church, East Grinstead on the basis that the Trustees are responsible for the building and the substance of the transaction is that Trinity Methodist Church, East Grinstead own the property.

page 14

TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

12 Debtors
2023 2022
Amounts falling duewithin one year: £ £
Prepayments and accrued income 21,136 21,528
13. Loans and overdrafts
2023 2022
£ £
Other loans - 42,500
Payable within one year - 42,500
14 Creditors: amounts falling duewithin oneyear
2023 2022
£ £
Borrowings - 42,500
Accruals and deferred income 27,987 18,992
27,987 61,492

page 15

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TRINITY METHODIST CHURCH, EAST GRINSTEAD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2023

17. _—Analysis ofnet assets between funds
Unrestricted Designated Restricted Total
funds funds funds
2023 2023 2023 2023
£ £ £ £
Fund balances at3L August2023 are represented by:
Tangible assets - 2,953,769 - 2,953,769
Current assets/(liabilities) 94,379 16,290 35,864 146,533
94,379 2,970,059 35,864 3,100,302
Unrestricted
funds		 Designated
funds		 Restricted
funds		 Total
2022 2022 2022 2022
£ £ £ £
Fund balances at31 August2022 are represented by:
Tangible assets - 2,955,506 - 2,955,506
Current assets/(liabilities) 81,588 (12,888) 56,500 125,200
81,588 2,942,618 56,500 3,080,706

18 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

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