Charity registration Dumber 1127649 TRINITY METHODIST CHURCH, EAST GRINSTEAD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
TRINITY METHODIST CHURCH, EAST GRINSTEAD LEGALAND ADMINISTRATIVE INFORIUTION Tru$tccs A Bentley S H BDJce J W Starling RA Dewar J H¢w¢r R J Stsrlirt8 J Brooks M P BTUC¢ M Brooks PFOX S Shaw P Swan P Oakley M Cunningham S Walker G Bradbury L Hope A Jordan J Roxburgh Rev B Scriv¢ns T B¢ntl¢y M R Nicholls ESJord H I Striebig K Jones (Appointed I September 20231 {ApLted 14 April 20241 {Appointed 14 ApTiI 20241 {Appointed 14 April 20241 {Appoint¢d 14 April 20241 Charity number 1127649 Principal address Lingfleld Road East Grinstead West SSeX RH19 2HA Independent ¢xarniner Darren HardingACA FCCA DChA Richard Place Dobson Services Lirtiited 1.7 Station Road Crdwley W¢5t Su55¢X RHIO IErr
TRINITY METHODIST CHURCH, EAST GRINSTEAD coTrrrETrrrs P¥* Trustres. report Independent examinerfs report Staiement offinancial activitia5 Balance sheet Notes io the financial statements 8-17
TRINITY METHODIST CHURCH, EAST GRINSTEAD TRUSTEES, REPORT FOR THE YEAR EIVDED 31 AUGUST2024 The finattciaI statem¢nts hav¢ prewed in accordanc¢ with the a¢eoutJ(ittg N)li¢ies set out in llote I to the finartciat statements and comply with the charity's Deed of Union (19321 and Mcthodist Church Ad 11976). the ChaJi(ies Act 2011 and Aecounting and Reporting by Charities= Statement of Recommended Pradi¢¢ applicable to charities preparing their accounts in accoTrknce with the Financial Reporting Standard appIlb]e irt th¢ UK and Republic of Ire18nd (FRS 11)2} (Effwtiv¢ l Jallu 20191. Objectiv£8 and attivitits The purposes of the Methodist Church are and shall be d¢¢med to have been stA¢e th¢ dots of union th¢ advaR¢¢m¢nt of.. Th¢ Christian faith in accordatLCC with the doctrtnai st2nd8rds and the disciplinc of tht Methodis( church. B. Any charitable purpose for the time bein8 of w eonnexional district, circuiu local or othcr organisation of the Methodist Church- C. A)ry charitable purpose for the time being of any society or instLtution sub8tdiary or anci11gry to the Methodist ¢hurGh,. D. Any purpose for th¢ time being of any chariry being adwity subsidiary or ancillary to the Methodist Chur¢h. Our Vi8Lon 15 to'know God and to make Him knowts We are committed to shaTing the GospEI th¢ loc commwiity,. to incrwing the fcllowship ef believers and makin8 disciples. memb¢rs and 1¢4d¥s. We believe the Bible is the inspired word of God. Jesus Christ is the only Son of God. By prayer, Bible study and1sSt¢rkang (o HLS VOLCG thc Holy Spirit cquips us to do thc will of God. Eycrything wc do shollld give glory t(p God. It is our aim to-. Wclcome all who comc to Trittiry Methodist Church and en¢ovrage them to become part of the Church fallnily. Foster, ihrough our worship? Ihe expectstion that the Holy SpiTht will work in peopld8 livcs, changing them for the bcttcr. Nwture SPiTitual growth by m¢c¢Kng together for ftllowshipj praycr, Bible study aT teaching. Undertake ¢vangelisti¢ outr¢a¢h to the local community. Encouraue ihe Preaching and teaching of the Gospel. Develop caring relationships and shar¢ othetrs needs and burden5. Provide OprtUnItieS for individuals to develop their spiritual gift5 and service. B¢ of S¢Tvice to the local community. Ensure that world mission is encoutag4 to bc aware of and to respond to thc needs of Chrisys body worldwidc. Our objectives are.. The prr>vi$itsn of ttgular atts of worship that 2re opert to members of the Church non-members alike. The teaching of Chri5ti3nity through sermon5, COUT5es and 5tnall group5. PJ5toral work including visiting the sick and bereaycd. Promotion of Christianity through 5tagirag ¢v¢nrs and scrvices. Provision of various clubs with a Christiaft ¢thos: inGluding clubs for children atml yOEmg people. s¢nior citizens, men's and women's groups. Supporting other charities irt the UK and ovetseAs fKnan¢ially and with PTtyer. Provisxon ofdaily refreshments via our Caféto encourage awareness of all ofthe above activities. Active involvement in the coJDmunity focused outreach activities of Foodb4 Street Pastors and Christia% Against Pov• ICAPI. Public b¢H¢fit The Trustees hav¢ ref¢rr¢d to th¢ guidan¢¢ io th¢ Ch&riPJ ConJmissiott'$ general Euidance on public benefit when reviewing the Charityy aims and obj¢¢tives in plartnittg its fimjre 2ctsvities. Jn particular, they have considered how pl2nned a1VItIeS will contributr to the wms and objective5 they have seL Achi¢v¢m¢nt$ and pérfornxarttt Th¢ Aooual Church Repc>rt prepared for ihe Annual Church Meeting in May 2Q24 detsils many of the achiwements p¢rforniances of the Church for the year 10 31stAugust 2024. p4el
TRINITY METHODIST CHURCH, EAST GRINSTEAD TRUSTEES, R£PORT (CONTIMJED) FOR THE FE4R ENDED 31AUGUST2024 Major achievemtnts for thc year include.. - Corttinued operation of thc Café (Monday- Friday Tn T2rn1 titnel. - Engagemeni with Churches TOgher - particularly Remembronce Sunday, The new Bonfire event and Good Friday Service. - FalIYACtiVity day and sleepover at Clllisim&8. - EstablislLm¢nt of a communicaiions Group. -Appointin8 a Sustsinability Champion. - Work on a Welcomt Pack. - Deve]opment MeetEng about Children & Young People'$ Work. Beginning to d¢v¢lop role descriptions for all volunlttT roles as required by the safer recruittnent policy. PoliGy Rl¢W. Crcating a prayer space in the foyer. - Tithing contribuuons &% rey)rted in Trinity News. - S¢Nces supported by comp510 amd FoodbanL FinAnti#l Thc Church's income comcs mainly from offerings. donations. t&x-¢fficient giving and hiring out of faciliiies. Expenditure is primarily on Church admittistratior4 the Annual Circuit Asscssmcrti Church activitics, donations within Methodi5tn and externally. amd Jn8intenaTrtt of the premises. The Circuit provides ministy for the Circuit churthes, intludin8 Stip¢nds and accommodation. The ChurchAcCots intlude the a¢tivititS Df inttrnal organisations. Wh¢n pos$ibl¢ funds ¢ fftVeS io a d¢po$it aullt with th¢ C¢ntra] Finan¢¢ Board of th¢ M¢thodist Chur¢lk whi¢h provides investsnent manag¢m¢ni servi¢¢s to ¢hur¢h¢& The Ch[h has a tr4)mprtFwJsiv¢ irJsfJr#ttet poli¢y with Methodist Irtsurgn¢¢ pl¢. The Trustees for M¢thodi$t Churdk PtUF05¢5 act a5 fU5todian trus¢¢¢5 for thB proF, PTovid¢ support within thrir rwiit. Th¢ ststernent of Finan¢ial A¢tiviti¢s on pag¢ 5 shows n¢t in¢ome resoiwces for th¢ year toidll¢d £7,68312023.. £19596 net in¢orne resourt¢sl. Reserves Policy The Reserve for tht Gmcral Fun(L ¢xGluding the n¢t value of tible fixed asscts alld th¢ inv¢5th1et wopcrty which are illiquid fLm&, is held &gainst fiJtur6 exp¢ns&8 ad aJnount5 to b¢tween 50/.. 1000/0 of the Church's nal ¢xp¢nditure. At 31st Au8USt 24. the ResVe 840/0 of future budgcted expens. FUTURE PLANS We continue to usc our preTnises to worship the Lord and wclcomc thc Holy Spirit, through a vaTi¢ty of SeEViCfS and acts of wOTh1P. W¢ hav¢ a vi$ion to strengthen 2nd ww our f¢llowship in terms of faith. knowl¢d8e, numbets. spirituality and passion for Jes. We a180 plan to continue reaching out and servsng our town com[llt1ty in &8 rnany ways as we car making 11 u5¢ Df our oNttll¢nt facilitics. Stro¢tst4 govtrnanee I manageanent AB¢ntlty S H BFU¢¢ J W arlittg RADew J Hewer R J sling J Brooks E Di¢kenson M P Btijce M Brooks PFOX (Dete3sed 30 December 2023) pagc 2
TRINITY METHODIST CHURCH, EAST GRINSTEAD TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 A UGUST2024 S Shaw P SwaJ] P Oakley M Cut)nin8h&n C Hodder S Walker G Bradbury L Hope A Jordan E Hagan J Roxburgh Rev B SGTiven5 T Bendey M R Nicholl8 E S Jord3n H I Striebig K Jones IR¢signed 14 April 2024) IResigrted 14April 20241 {Appointed I Stptrmbcr 2023) (Appointed 14April 20241 (Appointed 14April 2024) (Appointed 14April 20241 (Apwini¢d 14April 2024) Recrnitment and appointme¥Jt of nesv trustees Trustees 8r¢ appointed by the Church Council at theAnnual Church Meeting. Some Ttee$ o¢¢upy spe¢ific positions eg Treasurer, Church SiewaTd. Pottnt121 tTUSkcs aTC invitcd to SBrve by direct approach froTn the Chairn)an or Church Steward, although an advcrtisemcnt may b¢ placcd in th¢ Church m2gatinC OT newslcttcr if specialist skills arc Tequired. Lnductio and trainin8 are handl¢d by th¢ pr¢vious o¢¢upant of th¢ posL or th¢ ChuTGh SteWd5. ory1$xtlhl Structhrè The Church Council, whose munbers are the Trustees, has authority and ovusight over the whole ministy of ihe ¢huT¢h, Tncluding mgmag¢rnent ofthe propety- Aims and mdho&8, the iknermin&iion and pursuit of policy and the development of its aWlab]e resources arc its propu responsibility. It has appointed a numb¢[ of Lx)nunitlt¢s- Fillallc4 PTDperty, Pa5tordl, Outreach and Youth- whieh have authoriry in thcir own arw of r¢sponsibility to initiat¢ a¢tion. ¢o-OTdinat¢ work dorLC in c Church. advise the Church Council and repon to iL Key M#llgement Remuneratlo Th¢r¢ ar¢ no k¢y usanag¢mcnt employed by th¢ C*ur¢h. For all employ¢¢s the Mrthodist Churth Lay EplOYee pay rates ar¢ used lo deta7nine pay rnt¢s. U$È ofvolunteers The Church by its very ngiure is Idrgely Support and run by volunteers, and ir eould ttot lletion without thetn. Th¢ Church ¢>nly uses paid staff when a role is too onerous for a voluntcer to handlt. The tyust¢¢s' report was appry)ved by tht Bo£rd of Tnjstees. Rev B Scrivens Ttwiee Dat¢d.. pagt 3
TIUNITY METHODIST CHURCH, EAST GRsTEAD INDEPENDEprr EXAMINER'S REPORT TO THE TRUSTEES OF TRINrrY METHODIST CHURCH, EAST GRINSTEAJ) I report to the trustees on my exajnination of the financial ststements of Trinity Methodsst Church, East Grinstcad {thc arityl for the Ye ended 31 August 2024. Rtsponsibalittes and basis of ttport A5 th¢ trustee5 of the Charity you are responsible for the preparation of the fJnanci21 statements in a¢¢ordance with the requirtTnents of the Charitie5 Art 2011 (the 2011 Act). I report in respect of rny cxarnination of the charity's financia] statcmcnts carried out under stttion 145 of th¢ 2011 AGL In carying oui my examination I have followed ail thc applieablc Directions 8iven by the Charity Cotnmi$sion under section 14515llbl of the 2011 Act. Indeptndent examiner's st*ttment Your attention is drawn to ihe fact that the cknity h&8 preparcd flnancial statements in accordance with Accourtting and Reporting by chiti preparing their accounts in accordance with the Financi Reponing Siandard applitable in the UK d Republic of Jreland IFRS I02} in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issu¢d on l April 2005 which is referred to in the extant regulaitons bui h&$ now beet) withdrawn. l understand that this h&$ be done in order for financial statcm¢nts to provide a true and fair view in aeeordant¢ with Generally Acetptcd Aceounting Practice effective for rep)rtin8 periods beginning on or afteT l J2nuary 2015. I have Gompleted my exwrtinatiott. I confimi that no ]natters hav¢ ¢otne to tny attention in wnnection with the eX8miTtioll giving tne rau5¢ to b¢li¢v¢ that in any mètrriai r¢S(t. accounting records were not kept in reSt of the charity required by s¢¢tion 130 of th¢ 2011 A¢t- or the financial statements do noi accord with those record5. or the financial 5tatem¢nts do not comply with the applicable requirnents wncemiTag the form and content of accounts set oui in the CFwiti¢s IAKounts ReporE51 RegL]lations 2008 other thgn any requirernent that the accounts give a tNe and fair vicw whiGh is not a matter considered as part oran indepEndcnt ex8rninatiotL. I hav¢ no concerns 8nd have corne across no other matters in connection wath the oxamÉnation to which attention should b¢ drawn in this report in order to enable a proper und¢r8tandingof the finCial statements to be reached. DaTren HardingACA FCCA DChA Richard Place Dobson Services Litnited Chanered Accountsnts 1-7 Station Road Crawley West Suss¢x RHIO IHT Dated.. oE{osI page 4
TRINITY METHODIST CHURCH, EAST GRINSTEAD STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR EJVDED 31 AUGUST2024 Current financial year Unrestritted Unrestricted funds funds general designated 2024 Restritttd funds Total TotaI 2024 2024 2024 2023 Notes IrLtornt endowrntnts from.. Donations and Icgacics Investments (lth¢r incom¢ 89,550 48,781 3,890 14,276 103,826 48,781 19,780 110,058 44,013 15,790 100 Totsl income 142.221 15.790 14.376 172,387 172.186 Exptnditure on.. Charitable activitl¢5 130,724 30,746 3.234 164.704 152.590 Total expenditsre 130.724 30,746 3.234 164.704 152.590 Net in¢omel(expenditurel 11.497 {14.9561 11.142 7,683 19,596 Transfers b¢tw¢¢rt furtds {1,4341 1,434 Nrt movement ID funds 10.063 (13.5221 11.142 7.683 19.596 Reeonciliation of fund5: Fund balances at I September 2023 94.379 2,970.059 35.864 3.100.302 3,080.706 Futtd balances At 31 August 2024 104.442 2.956.537 47.006 3.107.985 3,100,302 The statement of financial activities includes all and losses recogni5ed in the year. All income ad expendittt d1ve from continuing activities. page 5
TRINTfY METHODIST CHURCH, EAST GRINSTEAD STATEMENT OF FINANCIALACTIVTTIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE IE4R ENDED 31 AUGUST2024 Prior financial yr Untystiicted Uorestritted funds d¢sigv*trd 2023 Rtstrirtéd funds Totsl generAI 2023 2023 2023 Notes lttcome eJdowments frolll: Donations ar legacies Inv¢stm¢n Other incomc 90,58S 44,013 2,165 19,363 110,058 44,013 15,708 242 Total incom¢ R36.763 15,818 19,605 172,186 Expethditurt on: Cheritablc activiti¢s 119,782 29,509 3.299 152,59) Tot txp¢ttditsrt 119,782 29.509 3299 151590 Net incomel(expeDditurel 16,98l (13,691) 162Q6 19,596 Transfers between fwids (4.190) 41.132 (36.9421 Net movement in funds 12.791 27,441 (20,6361 19,596 Re¢oncTliation of funds: Fund balances ai I Septe]nber 2022 81588 2.942.618 56.500 3.080,706 Fund balaDce5 at31 August 2023 94,379 2,970,059 35,864 3,100,302 page 6
TRINITY METHODIST CHURCH, EAST GRINSTEAD BALANCE SHEET ASA T31AUGUST2024 2024 2023 P4otss Fixed %sets Tangible assets ets 12 2,936,601 2,953,769 Debtors Cash ai bank and hand 13 21,644 173.088 21,136 L53.384 94.732 L74,520 Creditors: amounts fsllittz duewithitt otte year 14 (23,3481 {27.98D Net curr¢nt a55ets 171.384 146,533 Total ets le5$ tUrt liabslitles 3,107,985 3,100,302 Tttcotue funds Restricted fiTnd8 eStried fun Dcsignaied fi General unrtstrscted funds 15 47.006 35,864 2,956,537 104,442 2,970,059 94.379 3,060,979 3,064,438 3,107,985 3.1,302 The finattcial Statements were approval by the TrtL8tees on 2.71.4zolS A Bentley Tte¢ Rev B Scriv¢ns Trustee pag¢ 7
TRINITY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL sTATE1¥1[s FOJI THE YE4R ENDED 31AUGUST2024 A¢¢ounting polici Chartty inforniatiott Trinity M¢thodi5t Church, East Grinstead is a publi¢ bttn¢fit entity, with regi5tcred otTicc Trinity Methodist Church. Lingfjeld Road. E[ Grinstead. West Suss¢x RH19 2FL4. 1.1 Accounting conventioll The fin8nciaI siatements have been prepath in a¢¢ordance with the chity'S Deed of Union {1932) and Nfethodist Church Act (19761, the CIltieS Act 2011, FRS 102 "The FinclaI Re)rtIng StartdaTd applicable iti th¢ UK gnd Republie of Ireland" I'"FRS 102,1 and the Charitie5 SORP "Accounting and Rcportin8 by Charitie5- St&ernent or Recommended Practice applicable to GhaTities prepillg their accounts in accordance with the Financial Rewrting SiandaTd applicable in the UK and R¢public of Ireland (FRS 102)" (effective l January 2019}. The ¢harity is a Publi BenefIt Entity as defin¢d by FRS 102. The charity has taken advantoge of th¢ provisions in the SORP for charities not to prepare a Staiement of Cash Flow5. The financial 5tateTnents have departed frorn the chl[l¢S (Accounts and Reponsl Regulations 2008 only to the extent requTred to provide a tnTe and fair view. This departure h&8 involved following the Statement of Recotnmendd Practic¢ for Glwities applying FRS 102 rather than the version of thc Statement of ReMmended Practice which i5 refrrred to in the RegUlatiOr but wlllch h&s since been withdrawn. The financial staiemenis are prepared in $terlirtg, whi¢h is the fi]n¢tiQTLal currenGy of th¢ eharity. Monetsry amouttts in thcsc fjnancial statcmtnts art rounded to the nearest £. The fInancial statements have been prepartd under the historical cost conveni10 modified io include the reIllatiOn of fr¢hold properti¢5. The prinripai aGGounting poliGies adopted ¢ set out below. GoTttg tottttrn At the time of approving the financial statements, the trqfeeS have a reasonable ¢xpedation th& the charity has adequate r¢sourctt to continue in operationzl existence for the foreseeable fvture. Thus th¢ twst¢¢5 writinue to adopt the going concem basis of atcounting in PTepariAg the finanGial statetD¢nts. 1.3 Chxritsble funds Unrestricted funds ase availabl¢ for at thc discretion of the trustees in fijrtherance of their ¢haritable objeGtiv¢& Designated funds are at the discretion of the trusiees and c8n be created if there is a specific projectlobj¢¢tsv¢ that they W15h to 5p¢nd fiTnd5 On. R¢stri¢ted funds are subj¢¢t to s1¢ condition5 by donors or gwtOT5 a5 to how they may be used. The purposes and U5e5 ofthe restrict funds 5¢t out in th¢ notes to the financial Statements. 1.4 Income All intotning re$ourtes are included in the statement of firtsncial activities wh¢n the dwity is entitled to, and virtually ertain to receive the income and the amount cart be quantified with reasonable accuvd¢y. Voluniary income received by grants. donations. offerings and legacies are included in full in the Stat¢nt of Financial Athiviiies when reccivablc. Legacie5 recogniscd on receipt or otheTWi5e if thc Gharity has bceTL notified of an iTnpendiDg disknbution, th¢ amount is know and tettipt 18 CXPCCted. If the amount is noi known, the Icgacy is treated &q a contingcnt 5¢L Investsneni tAcome is included when receivable. Other income includes income from Lnternal Or82nisations and is reCols¢d when it is r¢ceivable.
TRINITY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL STATEMETrrrs (CONfiNUED) FOR THE YE4R E]VDED 31 AUGUST2024 A¢c•yntiryg policie5 (Cotttinw¢d) 1.5 EXpendIre ExpenditLe is recogni5ed once tFL¢re is a legal or Co51ructive obliEation to traosfeT eGonomiG beneflt to a thsrd party. it is pmbabl¢ that a transfer of economic benefjts will be requircd in steMen 2nd the amoutLt of the obligaiiott can be m¢Jsurtd reliably. Expenditurc is ¢18ssifJd by activity. The costs of trdch activity are made w7 of th¢ iotal of dir¢¢t Gosts arad shared costs, including support wsts involved in und¢ttrJ(ing ¢ach a¢tivÉty. Direct Costs 2ttributable to 4 single activity are allocated directIy to that activity. Stlarcd costs which contr&bute (o more Ihan one activity and 5UPPOrt ¢osTs which are not attributable to a SIne &ctivity are apportioncd behvccn thosc adivitics on a basis consistent with the use of resources. centr staff costs e all0&ed on the basi8 of time $peni and d¢pr¢¢iation charges are 411ocat¢d on the portion of the &%sei's use. ExpendKtur¢ LS recognised once there 1$ a leg&1 or coTh%tructivc obligation to mak¢ ? piyrtL¢nt to a third p4rty, Lt 15 Probable that settletxient will be required and the amount of the obligation ean be mwur¢d r¢Jiably. Exp¢nditur¢ is classifL¢d under the following activity heading.. Expenditure on charitable activities includes the provisiDn of minÉsty their2ss0¢iated support ¢osts. Support Costs 2re those furtctions that tst th¢ work of the ¢harity but do not dir*tly und¢rtgke dLaritsblc activitie5. Support costs include premises and offjce related Costs, and govemance ¢o$ts whith support the charity's activities. These Costs have been ailoca(ed to expendittjre on charitsble activitie$. The allo¢ati(>n tsf support ¢OSts is analysed in note 7. Gov¢man¢¢ $1S inrlud¢ thos¢ inwEr¢d in th¢ gov¢rnanG¢ by th¢ trust¢¢5 of th¢ chgrity's a5set8 ld are prim¥rily associated with wnstitutional and statutory requir¢m¢nts of eperating the GLty. Govemance costs are includcd withit) sUPrt Costs 2nd allocaied to tharitable #ctivity wsts. 1.6 Tangxblt fixed assets T8ngib16 fIxed Sets initially measured at cost and sub8equcntly mca5urcd at cost or Valuatio of dcprccia(ion and 9ry impainneni losses. Fixtur&%, fjttings and equipme#t ar¢ d¢pre¢iat¢d over 10 y¢ars on a straight lin¢ ba5]5. In accordance with Church Council rules building5 value in the accounts És based on insurance value. No depreciauon is charged in the accounts for frc¢hold buildings on the basis that the residuYJ of the btJildirts% cxcceds thc cost and any depreciation dwEe would be immateriaI. 1.7 Impalrment of fixed assets At each rep)rting end date, the ¢harity reviews the ¢arrying amovnts of its tartgtble ass¢ts io d¢¢etmine whtther there IS any indi¢atlQA that thos¢ assets have sutYer¢d an impairment los$. If any $u¢h indication exists, the recoverable 8moutJt of the asset is tstimat¢d in order to detemiine the extent of the impairment Ios8 {if any). 1.8 Cgsh and cash equivlllents Cash 8nd ¢h ¢quiv8]ents include c&8h in han4 dcposits held at call with banks. oiher short-temi liquid investments with original maturities Of rhree months or less, and bank overdrafts. Bartk overdrafis are shown within b)rrowings in cuttent pag¢ 9
TRINITY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL STATEMEiYrs (coNrINUED) FOR THE YE4R EhfDED 31 AUGUST2024 Accounting policies (Cotttiknutdl 1.9 Fin8nci21 in5trum¢nts The charity h&8 clccted to apply the provisiotts of Sectiort I I 'Basic Financial ittstrum¢nts' and Section 12 '0ther Firtartcial InstrLJments Issue8, of FRS 102 to all of its financial instruments. Fiftanciai instrLJments are reCOlsed in the dMTity'S b8]an¢e sheet when th¢ ¢harity b¢¢omes party to the wntraGtL provisions of the irtstTument. Financial assets gnd liabilities are offs¢L with th¢ Det amounts presented in th¢ flnanciai stat¢m¢nts. whcn there is a legally enforceable right to Set off the recognis¢d ellnounts and there is 9n intention to settle on a net basi5 orto realis¢ th¢ assa 8JLd settle the liabsliiy simult0usly. BleIan¢[al assets Basic financial assets, which include dcbtors and Gash 8nd bank balances, arc initially tn¢8sured at tratisaction pric¢ including transaction costs and are subsequently Garri¢d at amortisd cost Using the ¢ffective inteT¢5t method unl¢ss the arrang¢m¢nt constitutes & fingncing transaction. where the tranStIon is measured at the present value of th¢ futur¢ receipts discounted at a mk¢t rate of interest Financial assets cla5ssffi¢d as receivable within one yeaT are not amorrised. Bleon¢tlI1Qbitles BlC finamcial liabilitics, including ¢reditors and bank loans art initially r¢¢ognised at tr8nsa¢¢itsn pri¢¢ t1¢$$ the gmngement constitutes a financing tran5art7o where the debt instrument is tnea5ur¢d #t the pres¢nt value of the futUTe payments discounted at a maTket rate of inteKst. FiDanGial liabilitics classified a5 payable within one year are not amort15ed. Dcbt instrumcnts arc subs¢qu¢ntly carricd at amortised cos¢ using the effective interest Tate method. Trade creditors are obligations to pay for goods or service5 that have acquired in the ordinary course of operations from suppliers. Amounts payable 2re classified &8 current liabilities if pan¢t Is du¢ withTn one year or less. If noL they are preSted as non-current liabilities. Trade creditors are recognised initially at transaction price 8md subsequenily measured at amorttsed cost usin8 thc effcctive interest mcthod. Fin2ncial liabilitics are dereco)sed when the charity's Contractu obligation5 cxpire or are discharged or cancelled. 1.10 Tgution Th¢ ¢haTity is not $ubject to corporation t&x or any othert&xes on income or gains 8ri5Éng frotn its charitable objectives. Critical actountillg tstimates jlldgemtnts In thc application of the charity'5 accountin8 policies. the IDJstee5 required to tnajce judgements, estitllates oj asswnptions about the carrying ztnounl of sets and liabilitl¢S that ¢ noi readily apparent from Oth sources. Th¢ ¢stimates and $0¢Iatcd &ssumptions ar¢ based on hi5toriGal experience and othw factgr5 that are eonsidered to be relevartt. Actual results may differ from these e5timatcs. The ¢srimates artd underlying assumptions are reviewed on an ongoing basis. Revi510ns to aUntIng ¢$titnates ar¢ r¢cognssed in the period in whid] the estimat¢ is rcviscd where thc revision affects only that Perio or irl th¢ P¢Tiod of the revision and fvture periods wh¢r¢ the revi$ion affects LK>th eurreni and fjjture period8. CrÉticaI judgerneDts Valugtion of Buildings Buildings are included in thc accounts at historic c05L No depreCI10n is ¢h8rged on the builthng on thc bL8is that the ¢5timated rcsiLfual is in excess of th¢ cost included in th¢ aGcourLts and depre¢iation wotjld be immaterial. page 10
TRINITY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL STATEMENfS (CONfINUED) FOR THE YEIR ENDED 31AUGusf2024 Dottatifykns #nd (pff¢rings Unr¢5tri¢ted Restricted funds fund$ general 2024 Total 2024 2024 Donations and offerings 89,550 14.276 103,826 Unr¢strioted fjjnds g¢n¢ral 2023 Restricted fijnds Totsl 2023 2023 Donations and offerings 90,S85 19,363 LIO,058 Investment illfottk¢ Unrestricted Utlrestrictcd funds fund5 general general 2023 2024 Rtal income Interest receivable 43,413 5.368 41,016 2,997 48,781 44,013 Other iDcome gnd internal organKsatitsns Unr¢stri¢t¢d Unr¢stri¢t¢d Rtstri¢t¢d fuLds fullds fonds general 2024 Total 2024 2024 2024 Oth¢T income Int¢rLMI Organisations 3,890 100 3,990 15,790 15,790 3.890 15.79M> 100 19.780 page 11
TRtNITY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 3] AUGUST2024 Other income And internal owttis%ttiotts (Continued) Uzjrestricted Unr¢str5Ctcd fimds furtd% general Rcstricted furt¢ts Total 2023 2023 2023 2023 Other incorne Int¢mal Organisations 2,165 242 2,407 15,708 15.708 2,165 15.708 242 18,115 Charit#ble #divities Circuit DonatioJLS- Provision of Governance ¥ssent or Tithes Ministry Costs share Total 2024 Total 2023 21124 2024 2024 2024 Depreciation impaimient Circuit As5¢55mcnt share Donations- Tithes Provision of Ministy InsuranGe and Utilities Other Expenses Inicmal Organisations 17.168 17,168 60,QQO 14,479 24.273 26,523 6.163 13.578 17.168 60.002 15,075 17.835 23,102 4,667 12,341 60,IXJO 14,479 24,273 26,523 6.163 13.578 60.0 14,479 74.127 13.578 162.184 150,190 Share of gov¢mance costs (see note 7) 2.520 2,520 2,400 60,MO 14.479 76.647 13.578 164,704 152.590 Analysi5 by fund Unrtstrict¢d fids- general Unr¢srrict¢d fwid5- Restriaed fund8 60,000 14,179 56,545 17,168 2,934 130,724 30,746 3,234 119,782 29.509 3299 13,578 300 60.000 14.479 76,647 13,578 164.704 152.590 pagc 12
TRINrfY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL sTATENTs {coiYfINUED) FOR THE YE4R ENDED 31 AUGUST2024 ChAritable ctivititS (Continued) For tbe yexrtnded 31 Au¥ust 2023 Cittuit DonatioMs- Provision of Coveroante as$tssment or Tithes Ministry costs sha Tot1 2023 Depreciation and impairnicnt CircuirAssessme¥rt share Donations- Tithes Provision of Ministry Irtsurance 2nd Utiliti Othcr Expcnscs Internal Organisations 17,168 17,168 60.002 15,075 17,835 23.102 4.667 12.341 60,002 15,075 17,835 23,102 4,667 12,341 60,OD2 15,075 62,772 11341 150,190 Share of 8overnance costs (see note 71 2,40Q 2,400 60,002 15,075 65,172 12,341 152,590 Analysis by fund Unre5tricl¢d funds- g¢n¢rdl UTJTcsthctcd funds- designated Restricted fvnds 60,002 13,049 46,73 1 17,168 1,273 119,782 29,509 3,299 12.341 2,026 60.002 15,075 65,172 12.341 152,590 Support t05ts Allocated to activities 2024 2023 GovertLaTLC¢ costs 2,520 2,400 Anatystd betweeD: CharitableActivities 2,520 2,400 Governance costs consist only of Independcnt Exarnination Ftts. Ntt movement fullds 2024 2023 The net move¢t funds is st*¢d after charginO(creditingl: Dcpreciaiion ofowmed tangible fixefj assets 17,168 17,168 pagt 13
TRINITY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL STATEMErs (CONTINUED) FOR THE YE4R ENDED 31 AUGUST2024 Trustee5 Nottc of the trustecs lor lY persons ¢onAe¢ted with them) rt£eivtd any remuneration or benefits from the chLty during the year, or the year ending 31 August 2023. 10 Employtts The averag¢ monthly number of employees during the year Wa5.. 2024 NumbeT 2023 Nymb¢r During th¢ year £7.68112023.. £6,977) w&8 paid out in wage5. Thcre were no social security eo$ts or pension payMts made in titheryear. Key management personnel e considered to bc trustees. There were no ¢mploy¢es whose annual remunerdtion wa5 mor¢ than £60,0(XI. Taxation The charity is exeTnpt frotn t2xion on its activitiu bec&u5e all its Incle is applied for chariiable purposes. 12 Tangible fixtd assets Lnd Ind fkXttyr¢g, httlthgs buildiny & equipment Cost At I Septernber 2023 2,900,000 186.888 3.086,888 At 31 August 2024 2.900,000 186,888 3.086,888 Depreciation xttd impairniellt At I September 2023 D¢preciation charg¢d in the year 133,119 17.168 133,119 17,168 At 31 August 2024 150.287 150.287 Carrying amount At 31 August 2024 2,91KI,QQQ 36.601 2,936,601 At 31 Au8U8t 2023 2.900,0 53.769 2,953,769 All M¢thodist Churches arc owned by trSleeS for M¢thodi5t church purposes of C¢ntrdl buildings. Oldham Str¢e4 Manchester. The st of acquiring the property and any development work are reflected in the a¢counts of Trinity Methodist Churd4 East Grinstead on the basis that the Tnjsiees re5ponsibl¢ for the building and the substance of the transaction 15 that Trinity Methodist Church, East Grinstead own the propety. page 14
TRINITY METHODIST CHURCH, EAST GRINSTEAD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE TrEAR ENDED 31AUGUST2024 16 Unwtricted funds- designat¢d (Continued) The Departments fimd repres¢nts internal organisations and reflect inwmc received and expenditure paid out by ail the intemal organisations. It $0 shows the balancc of cash held on khalf of the intcrnai organi5ation5 at the end of ihc year. The Youth Work fund represents donations TK¢ived specifically to supJx)n tctivities related to the children and youth groups within the Church. The Trinity Books fiLnd represents income received and expenses paid ou¢ in r¢speGt of the operation of a book shop thc church café. The Land and Building fimd represetits the frd$ of the Church that arc ticd up in the ¢hur¢h buildsng and are not therefore free reserves. The Fittings Fund reprcsents monies tied up in thc fixtures and fittiTV purch&8ed for use within the church. Th¢ Roundabouts fjjnd represents th¢ fid$ remaining when the Pre-schfx>I closed. 17 Allalys of ttet #sstts b¢ttveen fvnd5 Unrestricted Designated fubd$ funds 2024 2024 Restricted futsd$ 2024 Total 2024 Fund balantts at 31 August 2024 represented by.. Tangible assets Current assctsllliabilitiesl 2,936,601 19,936 2,936,601 171J84 104,442 47,006 104,442 2,956,537 47,006 3.107,985 Unrestricttd fijnds 2023 De6ignated nds 2023 Restricted fidS 2023 Total 2023 Fund balances at 31 August 2023 are rtpresented by.. Tangible 3ssets Current 18seL1]iabl1iti¢Sl 2.953,769 16,290 2.953,769 146,533 94,379 35,864 94,379 2.970,059 35,864 3,100.302 18 Related party trallsactions There were no diselosable related party transactiorL% during the year12023- ntsnel. page 17