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2023-08-31-accounts

Church Accruals Accounts 2022-2023

THE METHODIST CHURCH

ANNUAL REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2023

Epsom Methodist Church

Registered Charity - Registration number

1127787 ~~—_~~

Circuit No 35/39 ~~ee~~

Ministers Rev Catherine Hutton, Rev Ung Soon Nguang and Mr Josh Selfe Church Stewards Mr Mark Angel Mrs Katharine Castledine Mrs Christine Cox Mr Robert Hill Dr Paul Warren Church Treasurer Mr Richard Smith ~~OO~~

Epsom Methodist Church Trustees' Annual Report

Contents

Contents
Page
Introduction, Objectives and Activities 1
Review of Progress and Achievements, Financial Plans and Review 2
Trustee Responsibilities, Governance of Epsom Methodist Church, Reference and 3
Administration Details
Statement of Financial Activities (2022-2023) 4
Statement of Financial Activities (2022-2023) 5
Balance Sheet 6
Cash Flows 7
Note 1 Basis of accounting and accounting policies 8
Note 2 Collections and gift aid 9
Note 3 Donations 9
Note 4 Legacies 9
Note 5 Income for the use of the premises 9
Note 6 Roots (coffee shop) 9
Note 7 Nursey 10
Note 8 Interest 10
Note 9 Trust fund management charges 10
Note 10 Property utilities and maintenance 10
Note 11 Administration 10
Note 12 Salaries and associated costs 11
Note 13 Donations to charities 11
Note 14 Other expenditure 11
Note 15 Transfers between funds 11
Note BS1 Church buildings 12
Note BS2 Investments 12
Note BS3 Debtors and prepayments 13
Note BS4 Analysis of cash at bank 13
Note BS5 Analysis of current liabilities and long term creditors 13
Note BS6.1 General fund 14
Note BS6.2 Designated funds 14
Note BS7.1 CCEMC fund 14
Note BS7.2 Other restricted funds 14
Note BS8 Funds of other organisations in the church 15
Note ON3 Related party transactions 16
CCEMC report 17
Church Council members 18
Declarations 19
Independent Examiner’s Report to the Trustees 20

Epsom Methodist Church TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2023

1 Introduction

Registered Charity number 1127787

Date of registration 30th January 2009

2. Objectives and Activities

Practical Management

Page 1

Epsom Methodist Church TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2023

3 Review of Progress and Achievements

3.2 Plans for future years

4 Financial Plans and Review

Our Finance Team is responsible to the Resources Committee and ultimately the Church Council for financial planning and management. Care is given to managing the buildings and the needs of running the church. There is an expectation that the elements of Church life to which EMC is ‘home’ contribute in a financially responsible and meaningful way to meet the costs of their incurred expenses. An annual appeal to resource the costs of running the church is put to the congregation. New members are encouraged to join the giving scheme.

A budget is set for every aspect of church life. We draw on our Capital reserves and one-off appeals for large projects and planned spending where we invest in personnel or equipment/improvement. We apply for appropriate Grants to support the work of the church.

We have good lettings to community groups and these are overseen by our church Operations Manager.

4.1 General Fund

The unrestricted General Fund includes the value of the buildings in its total figure. The figure for unrestricted funds (without the building) at the end of August 2023 is £215,457.

Church income is generated through personal giving, lettings and grants.

General Fund Restricted. The total restricted funds are £1,568.

4.2 Investment Policy

4.3 Reserves Policy

We hold £160,000 against our running costs for use in extremis.

Page 2

Epsom Methodist Church TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2023

5 Trustee Responsibilities

We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit. The Trustees are appointed at the AGM of the church.

Trustee Training

A range of guidance produced by Methodist Connexion to support the effective running of the church , specifically the leaflet ‘The Role of a Trustee in The Methodist Church’ is given to all new Church Council members as induction to their role as trustees.

Related Parties

The Church is part of the Sutton Circuit which is part of the London District and is also accountable to the Methodist Conference.

5.1 Risk Management

6 Governance of Epsom Methodist Church

7 Reference and Administration Details

Financial report prepared by Richard Smith, Church Treasurer

Independent Examiner Jacob, Cavanagh & Skeet, 5 Robin Hood Lane, Sutton, SM1 2SW

Trustees Report Prepared by Epsom Methodist Leadership Team

Chair: Revd Catherine Hutton

On behalf of the Trustees 27th February 2024

Page 3

Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023		 Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023		 Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023		 Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023		 Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023		 Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023		 Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023		 Name of Church
Epsom Methodist Church
Statement of Financial Activities(SOFA) for theyear ended 31 August 2023
Notes to the
accounts		 General Fund
(Unrestricted)		 CCEMC Fund
(Restricted)		 Designated Funds
(Unrestricted)		 Restricted Funds Total
2022-23		 Total
2021-22
Income from: £ £ £ £ £ £
Donations and legacies
Collections and Gift Aid 2 143,547 135,059 - 278,606 237,421
Donations and Gift Aid 3 16,768 20,000 16,316 125 53,209 67,384
Legacies 4 1,000 1,000 10,925
Charitable activities
Contributions from church organisations 5 3,142 3,142 2,025
Use ofpremises byexternal users 5 64,490 64,490 60,366
Roots tradingincome 6 48,621 48,621 35,431
Nurseryincome 7 100,053 100,053 81,816
Other trading activities
Lettingof church flat 5 13,200 13,200 11,100
Investments
Interest 8 9,812 7,926 553 - 18,291 6,039
Other
Other income - - - - -
Total 250,959 162,985 166,543 125 580,612 512,507
Expenditure on:
Raising funds
Trust fund management charges 9 1,334 1,334 1,176
Book Fair costs -
Charitable activities
Mission and outreach 16,066 18,583 34,649 3,368
Rootsgoods and other expenses 6 19,859 19,859 14,077
Nurseryother expenses 7 7,964 7,964 6,337
Buildingutilities 10 40,088 40,088 29,956
Buildingmaintenance 10 22,603 834 23,437 76,285
Administration 11 13,088 13,088 12,227
Salaries 12 76,706 76,530 179,833 333,069 230,405
Circuit share 85,000 - 85,000 93,400
Donations to charities 13 3,500 - - 1,450 4,950 29,159
Depreciation 1,013 11,317 12,330 13,305
Other
Other expenditure 14 - 19,675 - - 19,675 10,851
Total expenditure 259,398 114,788 219,807 1,450 595,443 520,546
Netgains/(losses)on investments (12,205) - - - (12,205) (18,841)
Net income/(expenditure) (20,644) 48,197 (53,264) (1,325) (27,036) (26,880)
Transfers between funds 15 16,045 (12,789) (3,256) - - -
Other recognisedgains/(losses) - - - - - -
Gains/(losses) on revaluation of fixed assets - - - - - -
Actuarial gains/(losses) on defined benefit pension
schemes		 - - - - -
Othergains/(losses) - - - - - -
Net movement in funds (4,599) 35,408 (56,520) (1,325) (27,036) (26,880)
Reconciliation of funds 2,138,008 286,346 358,586 2,893 2,785,833 2,812,713
Total funds carried forward 2,133,409 321,754 302,066 1,568 2,758,797 2,785,833
Balance carried forward
Balance brought forward from last year
Offerings/Gifts - received for External Organisations
Offerings/Gifts - passed to External Organisations
For information only Money received and passed on to External Organisations
2023 2022
- -
2,172 5,005
2,172 5,005
- -

Page 4

Name of Church

Epsom Methodist Church

Statement of Financial Activities(SOFA) for theyear ended 31 August 2022 Statement of Financial Activities(SOFA) for theyear ended 31 August 2022 Statement of Financial Activities(SOFA) for theyear ended 31 August 2022 Statement of Financial Activities(SOFA) for theyear ended 31 August 2022 Statement of Financial Activities(SOFA) for theyear ended 31 August 2022 Statement of Financial Activities(SOFA) for theyear ended 31 August 2022 Statement of Financial Activities(SOFA) for theyear ended 31 August 2022 Statement of Financial Activities(SOFA) for theyear ended 31 August 2022
Notes to the
accounts		 General Fund
(Unrestricted)		 CCEMC Fund
(Restricted)		 Designated Funds
(Unrestricted)		 Restricted Funds Total
2021-22		 Total
2020-21
Income from: £ £ £ £ £ £
Donations and legacies
Collections and Gift Aid 2 133,909 103,512 - 237,421 216,860
Donations and Gift Aid 3 4,380 14,345 48,464 195 67,384 15,419
Legacies 4 10,925 10,925 52,793
Charitable activities
Contributions from church organisations 5 2,025 2,025 995
Use ofpremises byexternal users 5 60,366 60,366 24,337
Roots tradingincome 6 35,431 35,431 5,989
Nurseryincome 7 81,816 81,816 112,691
Other trading activities
Lettingof church flat 5 11,100 11,100 13,200
Investments
Interest 8 5,090 904 43 2 6,039 4,839
Other
Other income 13 - - - - 26,271
Total 216,870 118,761 176,679 197 512,507 473,394
Expenditure on:
Raising funds
Trust fund management charges 9 1,176 1,176 818
Book Fair costs -
Charitable activities
Mission and outreach 10 3,368 3,368 6,784
Rootsgoods and other expenses 6 14,077 14,077 2,976
Nurseryother expenses 7 6,337 6,337 24,028
Buildingutilities 11 29,956 29,956 23,611
Buildingmaintenance 11 9,379 66,906 76,285 12,879
Administration 12 12,227 12,227 8,064
Salaries 13 62,544 57,000 110,861 230,405 225,549
Circuit share 14 73,400 20,000 93,400 104,000
Donations to charities 15 3,500 23,609 - 2,050 29,159 22,809
Depreciation 1,013 12,292 13,305 14,242
Other
Other expenditure 16 - 10,851 - - 10,851 11,771
Total expenditure 196,563 91,460 230,473 2,050 520,546 457,531
Netgains/(losses)on investments (18,841) - - - (18,841) 35,063
Net income/(expenditure) 1,466 27,301 (53,794) (1,853) (26,880) 50,926
Transfers between funds 17 19,108 (11,740) (7,368) - - -
Other recognisedgains/(losses) - - - - - -
Gains/(losses) on revaluation of fixed assets - - - - - -
Actuarial gains/(losses) on defined benefit pension
schemes		 - - - - -
Othergains/(losses) - - - - - -
Net movement in funds 20,574 15,561 (61,162) (1,853) (26,880) 50,926
Reconciliation of funds 2,117,434 270,785 419,748 4,746 2,812,713 2,761,787
Total funds carried forward 2,138,008 286,346 358,586 2,893 2,785,833 2,812,713
Balance brought forward from last year
Offerings/Gifts - received for External Organisations
Offerings/Gifts - passed to External Organisations
Balance carried forward
For information only Money received and passed on to External Organisations
2022 2021
- -
5,005 1,981
5,005 1,981
- -

Page 5

Epsom Methodist Church

Balance Sheet as at 31 August 2023

Unrestricted CCEMC Fund Designated Restricted Totals this year Totals last year
General Fund (Restricted) (Unrestricted) Funds
£ £ £ £ £ £
Tangible Fixed Assets*
Notes
Church buildings BS1 1,905,444 1,905,444 1,905,444
Equipment BS1 2,508 31,744 34,252 46,582
Investmentproperties
Investments BS2 10,000 10,000 10,000
Totalfixed assets 1,917,952 31,744 1,949,696 1,962,026
Current Assets
Debtors and Prepayments BS3 50,635 15,750 66,385 33,986
Investments with TMCP BS4 114,903 208,356 323,259 380,001
Central Finance Board Deposits BS4 47,917 253,595 1,568 303,080 349,671
Cash at Bank and in hand BS4 9,692 52,409 61,966 124,067 127,479
Total current assets 223,147 321,754 270,322 1,568 816,791 891,137
Creditors(due in under 1year) BS5 7,690 7,690 67,330
Net current assets(liabilities) 215,457 321,754 270,322 1,568 809,101 823,807
Total assets less current liabilities 2,133,409 321,754 302,066 1,568 2,758,797 2,785,833
Loans and creditors due after 1year
Provisions for liabilities and charges
Net assets 2,133,409 321,754 302,066 1,568 2,758,797 2,785,833
Funds of the Church
General Fund(Unrestricted) BS6.1 2,133,409 2,133,409 2,138,008
CCEMC(Restricted) BS7.1 321,754 321,754 286,346
Other Designated funds(Unrestricted) BS6.2 302,066 302,066 358,586
Other Restricted funds BS7.2 1,568 1,568 2,393
Total Funds 2,133,409 321,754 302,066 1,568 2,758,797 2,785,333

The financial statements were approved by the trustees on 27th February 2024 and were signed on their behalf

Rev Catherine Hutton 27th February 2024

Page 6

Epsom Methodist Church

Statement of Cash Flows for year ended 31st August 2023

Statement of Cash Flows foryear ended 31st August 2023
2023 2022
£ £
Cash flows from operating activities
Net cash provided by operating activities (112,831) 109,288
Cash flows from investing activities
Interest receivable 18,291 6,039
Purchase of investments (100,166)
Proceeds from sale of investments 100,815
Investment in property, plant and equipment - (15,945)
Net cash used in investing activities 18,291 (9,257)
Change in cash & cash equivalents in the reporting period (94,540) 100,031
Cash and cash equivalents at the beginning of the reporting period 607,986 507,955
Cash and cash equivalents at the end of the reporting period 513,446 607,986
Classified on the Balance Sheet as:-
TMCP deposit 86,299 130,836
Central Finance Board Deposits 303,080 349,671
Cash at bank and in hand 124,067 127,479
513,446 607,986
Reconciliation of net income/(expenditure) to net cash flow from operating activities
Net income/(expenditure) from reporting activities (as per the Statement of Financial Activities) (27,036) (26,880)
Adjustments for:-
Depreciation 12,330 13,305
Interest receivable (18,291) (6,039)
Gains/(losses) on investments 12,205 18,841
Net (income)/expenditure on endowment fund - -
(Increase)/decrease in debtors (32,399) 45,895
Increase/(decrease) in creditors (59,640) 64,166
Net cashprovided by operating activities (112,831) 109,288

Page 7

Epsom Methodist Church

Notes to the Accounts

1 Basis of accounting and accounting policies

i Basis of accounting

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), SORP(FRS102), as amended by Update Bulletin 1, and the Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS 102.

ii Public benefit entity

The Epsom Methodist Church meets the definition of a public benefit entity under FRS 102. It is an unincorporated charity with a main address of Epsom Methodist Church, Ashley Road, Epsom, K18 5AQ. iii Basis

These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. The accruals basis has been used and trustees present accounts that show a true and fair view of the Church's financial position and activities. The financial statements are prepared in pounds sterling rounded to the nearest pound.

iv Charities Act

The financial statements have been prepared under the Charities Act 2011 and the 2008 accounting and reporting regulations in order to be able to show a true and fair view, as required by the regulations.

v Going concern

Based on the monetary assets and human resources available at 31 August 2023, the trustees believe that the Church is a going concern.

vi Income recognition

Income is brought into account when there is entitlement, the amount is reliably measurable and it is more likely than not that the economic benefit of the income will be forthcoming.

In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised. Further information on this matter is provided in the Trustees' Annual Report.

vii Expenditure

This is recognised when a liability is incurred, or a constructive obligation arises, where the amount is reliably measurable and it is considered more likely than not that there will be an outflow of economic benefit.

viii VAT

Since the Church is not VAT registered, all input VAT is charged with the expenses to which it refers.

ix Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £1,000 and are written off over a specified number of years.

The freehold and/or long leasehold property is shown in the accounts at deemed historical cost representing the property's gross carrying value at time of being built. No depreciation is provided because the trustees consider the residual value of the property in its present condition to be not less than its insurance cost and, in the absence of any evidence of impairment, any depreciation provision for the buildings component of the property would be immaterial.

The Church's investments are deposited with TMCP as custodian trustees. The valuations, at market value, are those provided by TMCP.

TMCP is the legal owner and custodian trustee of all Methodist model trust property, including legacies, endowments and accumulated funds. Trust property is held for and on behalf of local managing trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the managing trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

The funds that support the Church's other funds (as listed below) are held by TMCP in trustees interest funds on which interest is credited to the accounts each month. These are regarded as medium and long term investments.

xi Receivables and Payables; Bank and Cash

Debtors are stated at the amounts owed to the Church or prepaid by the church. Creditors are recognised at the amount expected to be settled.

xii Methodist Connexional Funds

The church pays an assessment/share quarterly to the Sutton Methodist Circuit. The District (a group of contiguous circuits) quarterly remits to The Methodist Church Fund most of the sum received from the Circuits. A small sum is retained by the District to meet its own costs.

Page 8

Epsom Methodist Church

Notes to the Accounts

2 Collections and gift aid

Collections and gift aid
General CCEMC 2023 2022
Collection 116,417 118,405 234,822 197,293
Gift Aid 27,130 16,654 43,784 40,128
Total 143,547 135,059 278,606 237,421

3 Donations

General
fund		 CCEMC Designated
funds		 Restricted
funds		 2023 2022
Donations to the churchgeneral fund 16,768 16,768 6,957
Donations towards the cost of thepremises - 683
Donations for Children and Families Leader 13,585 13,585 48,464
Donation for solarpanels 2,731 2,731
Donations for Benevolence 125 125 195
CCEMC donations 20,000 20,000 14,345
Transfers - (3,260)
Total 16,768 20,000 16,316 125 53,209 67,384

4 Legacies

A legacy of £1,000 was received during the year.

5 Income from use of the premises

The income from the use of the premises by outside users was £64,490. The rental income from the caretaker's flat was £13,200 for the year. In addition to these, £23,142 was received from church organisations who make a contribution (not a charge) towards the use of the premises.

use of the premises.
2023 2022
Church organisations 3,142 2,025
Received by transfer 20,000 26,720
External lettings 64,490 60,366
Rent from flat 13,200 11,100
Total 100,832 100,211
2023 2022
Lettings 100,832 100,211
Giving including gift aid 143,456 131,909
Donations 2,051 3,697
Total 246,339 235,817

Church organisations which do not appear in this report contributed £3,142 for their use of the premises. Other church organisations which appear in this report contributed £20,000 (Nursery £8,000, CCEMC £12,000) by transfer. This totalled £23,142 which was contributed by church organisations.

6 Roots - the Church Coffee Shop

Roots - the Church Coffee Shop
Receipts from dailycard and cashpayments 48,621
Receipts from occasional bookings 802
Value of stock at 31st August 2023 978
Grant from church 4,480
Total income 54,881
Operatingcosts 21,306
Wages 33,575
Total expenditure 54,881

Page 9

Epsom Methodist Church

Notes to the Accounts

7 Nursery

Opening balance 55,779
Income
SurreyCountyCouncilgrants 66,905
Othergrants,deposits,fees,donations 30,101
Fundraising 1,346
Finance from church 11,175
Other income 451 109,978
Interest 553
Total income 110,531
Expenditure
Staff costs 88,243
Hall rent 8,000
Insurance 790
Other expenditure 7,311
Total expenditure 104,344
Closing balance 61,966

Other income of £109,978 comprises £100,053 (see SOFA Nursery income) and £9,925 (see note 15) transferred from the Mission Pastor Fund for the part-time employment of a Families Worker.

8 Interest

Interest
General CCEMC **Designated ** Restricted 2023 2022
Interest 5,451 5,451 1,016
Dividends/Fixed interest received 4,361 4,361 4,074
CCEMC CFB 7,926 7,926 904
Nursery 553 553 43
Restricted funds 0 0 2
Total 9,812 7,926 553 0 18,291 6,039

9 Trust fund management charges

Trust fund management charges
Fund Notes 7-10 2023 2022
17544 395 395 144
19520 939 939 1,032
Total 1,334 1,334 1,176

10 Property utilities and maintenance

Property utilities and maintenance
**General ** Designated Restricted 2023 2022
Cleaning 7,002 7,002 4,736
Utilities 24,574 24,574 17,923
Insurance 7,765 7,765 6,959
Flat 747 747 338
Total utilities 40,088 40,088 29,956
Maintenance and Repairs 22,603 834 0 23,437 76,285
Total 62,691 834 0 63,525 106,241

11 Administration

2023 2022
Telephone 2,385 1,420
Administration 8,783 9,157
Accounts examination 1,920 1,650
Total 13,088 12,227

Page 10

Epsom Methodist Church

Notes to the Accounts

12 Salaries and associated costs

Salaries were paid to 11 staff and were as follows:

General CCEMC Mission
Pastor		 Nursery Roots 2023 2022
Salaries 69,378 27,928 53503 84,144 33,007 267,960 88,952
National Insurance Contributions 4,885 2,684 2858 2,092 289 12,808 3,628
Pension Fund Contributions 2,096 7,244 1623 2,006 0 12,969 1,449
Apprenticeshiplevy 347 129 147 164 787 1,991
Nursery payroll costs(2021/22) 0 0 77,385
CCEMC ministry 0 38,545 38,545 57,000
Total 76,706 76,530 58,131 88,242 33,460 333,069 230,405

The sum of the salary data for the Mission Pastor, Nursery and Roots is £179,833 as recorded in Salaries for Designated Funds

13 Donations to charities

Donations to charities
General **CCEMC ** **Designated ** Restricted 2023 2022
Methodist Church Mission in Britain Fund 500
Methodist Church TrainingFund 600
Methodist Church PropertyFund 1,350
Support for Presbyters and Deacons 300
Methodist Ministers' HousingFund 750 3,500 3,500
Donations supportingCCEMC ministry 0 0 23,609
Benevolence Fund 1,450 1,450 2,050
Nursery
Transfers 12,000 12,000
Total 3,500 12,000 0 1,450 16,950 29,159

14 Other expenditure

Other expenditure
**CCEMC ** Designated 2023 2022
Excess of accruals frompreviousyear for sundrycosts 19,675 19,675
10851
Total 19,675 - 19,675 10,851

15 Transfers between funds

The following transfers were made between funds.

Transfers from Transfers from Transfers from Transfers from Transfers from
Transfers To General Fund CCEMC Roots Nursery CFL
Use of premises 20,000 (12,000) (8,000)
Printing 936 (789) (8) (139)
Underwrite deficit (4,480) 4,480
Salary of nursery manager 9,925 (9,925)
Provision of food for events (411) 411
Total 16,045 (12,789) 4,883 1,786 (9,925)

Page 11

Epsom Methodist Church

Notes to the Accounts

BS1 Church Buildings

The Insurance value of the church at 31st August 2023 was £7,185,850 (31st August 2022 £6,923,536).

Church buildings and other major property

Church (non investment) land
and buildings
£		 Church (non
investment)
land and
buildings
£		 Other non
investment
land and
buildings
£		 Investment
properties
(land and
buildings)
£		 Other fixed assets
including motor vehicles
£		 Fixtures,
fittings and
equipment
£		 Total
£
Balance brought forward 1,905,444 - 159,269 2,064,713
Additions - -
Revaluations (+/-)
Disposals (-)
Balance carried forward 1,905,444 - - - 159,269 2,064,713
Accumulated depreciation
**Transfers (+/-) **
Balance brought forward 1,905,444 112,687 2,018,131
Depreciation charge for year 12,330 12,330
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried forward 1,905,444 - - - 125,017 2,030,461
Net book value
Brought forward 1,905,444 - - - 46,582 1,952,026
Balance carried forward 1,905,444 - - - 34,252 1,939,696

The boiler and fire doors are written down annually by 10% and the rest by 20% on a straight line basis.

BS2 Investments

Change in investment values National Savings Investment Bond

Investments
Change in investment values
National Savings Investment Bond
2023 2022
Carrying (market)value at beginningofyear 10,000 10,000
Add: additions to investments at cost
Less: disposals at carryingvalue
Net gain(loss) on revaluation
Carrying (market)value at end ofyear 10,000 10,000
Deposit and Investment Funds at TMCP
2023 2022
Carrying (market)value at beginningofyear 380,001 412,655
Add Interest on investments 4,091 958
Add Dividends/fixed interest received 4,361 4,074
Less: administration charge (1,334) (1,176)
Less net withdrawal of funds (51,655) (17,670)
Add: additions to investments at cost - 100,166
Less: disposals at carryingvalue - (99,302)
Netgain/(loss)on revaluation (12,205) (19,704)
Carrying (market)value at end ofyear 323,259 380,001
Balances in TMCP funds by deposit and investment
2023 2022
Balance in Deposit fund 117,554 122,768
Balance in Investment fund 86,299 130,836
Balance in CFB Short Fixed Interest Fund 31,220 32,676
Balance in Gilt funds 88,186 93,721
Total 323,259 380,001

Page 12

Epsom Methodist Church

Notes to the Accounts

BS3 Debtors and Prepayments

Debtors and Prepayments
2023 2022
Prepaid assessments 38,750 21,250
Gift Aid due on General and other funds 9,972 10,199
Roots stock atyear end 978 1,006
External use ofpremises - 1,008
Unpaid tax and NIC 485 523
Other debtors 16,200 -
Total debtors andprepayments 66,385 33,986

BS4 Analysis of cash at bank

Analysis of cash at bank
2023 2022
Working Funds
Bank balance held in HSBC(General fund) 2,202 6,520
Bank balance held in CAF Bank(General fund) 7,490 3,917
Bank balance held in HSBC(CCEMC) 52,409 61,263
Bank balance held in CAF Bank(Nursery) 61,966 55,779
Total of bank balances 124,067 127,479
CFB fund balances
CFB fund(English Congregation) 49,485 124,488
CFB fund(CCEMC) 253,595 225,183
Total of CFB fund balances 303,080 349,671
Deposit Funds
Trust fund 17544 - 50,581
Trust fund 19520 323,259 329,420
Trust fund 20912 - -
Total of deposit fund balances 323,259 380,001
Total cash, bank and trusts 750,406 857,151

The total for comparison with the balance sheet is the sum of the TMCP trusts, the CFB deposits and the bank balances. When they occur, the TMCP endowment funds are added in too (2022 comparison)

BS5 Analysis of current liabilities and long term creditors

Analysis of current liabilities and long term creditors
2023 2022
Administration
Account examination 1,920 1,680
Incorrect donation returned to donor's bank 12,500
External use ofpremises 782
Provision for utilities 3,284
Stonework carried out duringAugust 2022 48,906
Provision for CCEMC 100
Gift Aid on donation 78
Provision for tax/NICpayments and invoices 5,770
Total 7,690 67,330

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Epsom Methodist Church

Notes to the Accounts

BS6 Unrestricted Funds

BS6.1 General Fund

General Fund
Fund Name 2022 Income Expenditure Transfer Investment
Gains		 2023
General Fund 2,138,008 250,959 259,398 16,045 (12,205) 2,133,409
Fund Name 2021 Income Expenditure Transfer Investment
Gains		 2022
General Fund 2,117,434 216,870 196,563 19,108 (18,841) 2,138,008

BS6.2 Designated Funds

Fund Name 2022 Income Expenditure Transfer Value of stock 2023
Roots 0 48621 53482 4,883 - 22
Children & Families Leader 40262 13585 57967 (9,925) - (14,045)
Gifts & Memorials 219485 3731 834 -
222,382
Nursery 55777 100606 96207 1,786 61,962
Equipment 43062 0 11317 - 31,745
Totals 358,586 166,543 219,807 (3,256) - 302,066

Although the Children & Families Leader fund was in deficit at the year end, the grant of £25,000 was received from the Sutton Circuit early in the 2023/24 year.

Fund Name 2021 Income Expenditure Transfer Value of stock 2022
Roots - 35,431 44,083
8,652		 - -
Children & Families Leader 4,854 48,464 3,470
(9,586)		 - 40,262
Gifts & Memorials 311,411 10,925 86,906
(15,945)		 - 219,485
Nursery 64,074 81,859 83,722
(6,434)		 55,777
Equipment 39,409 12,292
15,945		 - 43,062
Totals 419,748 176,679 230,473 (7,368) - 358,586

BS7.1 CCEMC Fund

CCEMC Fund
Fund Name 2022 Income Expenditure Transfer 2023
CCEMC 286,346 162,985 114,788 (12,789) 321,754
Fund Name 2021 Income Expenditure Transfer 2022
CCEMC 270,785 118,761 91,460 (11,740) 286,346

The purpose of the fund is for use at the discretion of the trustees in the furtherance of the general objectives of CCEMC. Its main source of income is the giving of the CCEMC both weekly and by special collections. A transfer of £12,000 was made to the General Fund for the use of the premises.

BS7.2 Other Restricted funds

Fund Name 2022 Income Expenditure Transfer 2023
Benevolence fund 1,725 125 1,450 400
Small groups 1,168 0 0 1,168
Totals 2,893 125 1,450 0 1,568
Fund Name 2021 Income Expenditure Transfer 2022
Benevolence fund 3,580 195 2,050 1,725
Small groups 1,166 2 0 1,168
Totals 4,746 197 2,050 0 2,893

The Benevolence Fund is required by Methodist Standing Order 651 and is for the relief of poverty and distress.

The Church holds funds for small groups within the church's life where interest is earned for the funds from being invested in the Central Finance Board Deposit Fund.

All references to transfers are explained in section BS6.1 and BS6.2.

Page 14

Epsom Methodist Church

Notes to the Accounts

BS8 Funds of Other Organisations in the Church

Internal Organisations Opening
balance		 Income Expenditure Closing
balance
Cricket Club 1,461 0 0 1,461
Families on Friday 456 0 0 456
Little Monkeys 993 178 60 1,111
Welcome Club 470 215 60 625
Table Talk 268 0 50 218
Totals 3,648 393 170 3,871

ON1 Capital commitments and contingent liabilities

At 31st August 2023 the Church had no capital commitments.

There is a potential liability of about £30,000 on the Nursery for back-dated national insurance contributions and apprenticeship levy. The church has advised HMRC and is awaiting their response.

ON2 Loans and creditors due after one year

No loans and creditors due after one year were identified at 31st August 2023.

ON3 Related party transactions

( ON - Other Note)

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Epsom Methodist Church

Notes to the Accounts

ON3 Related party transactions

Name of related party Relationship Payments to related
parties during the
year 2022/23		 Payments to related
parties during the year
2021/22
£ £
Action for Children Connexion 304
115
Ministerial Housing Society Connexion 750
750
Ministerial Training Connexion 600
600
Fund for Support of Presbyters & Deacons Connexion 300
300
Fund for Property Connexion 1,350
1,350
Mission Alongside the Poor Connexion 500
500
Epsom & Ewell Foodbank* Charity 432
170
Christian Aid Charity 162
165
British Heart Foundation Charity 0
14
Hope into Action Charity 20
0
Total 4,418 3,964

All transactions were donations.

During the year there was no: Income from related parties Loans to or from related parties Amounts owed by or to related parties on 31st August 2023

Trustees' Remuneration

Joshua Selfe (Mission Pastor) was paid £29,500 salary, £1,770 pension and £24,000 rent. Sarah Meech (Property Manager) was paid £24,710 and £1,483 pension.

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Epsom Methodist Church

Notes to the Accounts

CCEMC Report

Income

1) This year has seen people from Hongkong join our congregation which has resulted in the Sunday offering rising to £101,275 (2022: £89,746).

2) The Thanksgiving has increased slightly to £8,105 (2022: £7,695).

3) The Mission fund collection has increased by more than 1/3 to £9,035 (2022: £6,650).

4) There was a special collection of £970 for the Turkey Earthequake.

5) Income from the Central Finance Board Account of £7, 926 shows a sharp increase, due to the increase in interest rates (2022: £904).

6) The Gift Aid tax refund has gone up in line with the Sunday offering increase - £16,645 (2022: £13,766). A further £408 (2022 £981) was received from Epsom Methodist Church from their gift aid not claimed under the Gift Aid Small Donations Scheme.

Total income was up from £93,004 (27.7%) to £118,762.

Expenditure

1) £12,000 or 10% (2022: £11,000 or 11.38%) was contributed to Epsom Methodist Church.

2) £58,280 or 48.67% was the minister's cost (2022: £57,000 or 58.97%) which was slightly up compared to last year but a smaller proportion.

3) £18,250 or 15.24% (2022: £18,087 or 17.45%) was for Jerry Lee's theological study.

4) £9,035 was collected for the mission fund in year 2022/23, plus £1,500 brought forwarded from previous years.

5) HSBC bank charges were £287 (2022: £193).

Summary

Our income comes mainly from Sunday offerings, tax refunds and Thanksgiving. There were also collections for missionary funds and other special offerings.

The expenditure has been mainly on the following:

Page 17

Appendix A

Epsom Methodist Church

The following are the current members of the Church Council (Managing Trustees):

Ministers

Rev Catherine Hutton, Rev Ung Soon Nguang

Lay Pastor

Mr Josh Selfe

Secretary

Mrs Heather Parker-Bruneau (not a trustee)

Treasurer

Richard Smith

Stewards Team

Mark Angel, Katharine Castledine, Christine Cox, Robert Hill, Paul Warren (not trustee) Angela Kwan, Jerry Lee, Jane Liang, Ming Yip

Property Steward

Sarah Meech

Pastoral Secretary

Pam Brogan

Chairman of Resources Committee

Catherine Hutton

CCEMC Kammy Chong

Nursery John Riley

Circuit Steward Representative Vacant

Elected Representatives

Ann Arthur, Jane Barden, Tony Blakeburn, Neil Dallen, Gillian Mead, Andrew Meech

Appointment and resignation of trustees

Mr Mark Angel Mr Simon Jump (resigned 27/06/2023) Mrs Ann Arthur Mrs Angela Kwan (appointed 1/11/2022) Mrs Jane Barden Mrs Gillian Mead Mr Tony Blakeburn Mr Jerry Lee (appointed 7/11/2023) Mrs Pam Brogan Mrs Jane Liang (appointed 1/11/2022) Mrs Katharine Castledine Mr Lyndon Man (appointed 1/11/2022 resigned 7/11/2023) Mrs Quarisa Chan (resigned 7/11/2023) Mr Andrew Meech Mr Richard Chandra-Rajan (resigned 1/11/2022) Mrs Sarah Meech Mrs Kammy Chong (appointed 1/11/2022) Rev Ung Soon Nguang Mrs Christine Cox (appointed 27/06/2023) Mrs Jacqui Raggett (resigned 1/11/2022) Mr Neil Dallen (appointed 27/6/2023) Mr John Riley Mr Jason Eng (appointed 1/11/2022 resigned 7/11/2023) Mr Joshua Selfe (appointed 1/11/2022) Mrs Liz Frost (resigned 27/06/2023) Mrs Meryl Smith (resigned 1/11/2022) Mr Chee Hong Fui (resigned 7/11/2023) Mr Richard Smith Mrs Lisa Halstead (resigned 1/11/2022) Miss Carol Stringer (resigned 1/11/2022) Mr Robert Hill Mrs Kathryn Thompson (resigned 27/06/2023) Rev Catherine Hutton Mr Peter Thompson (resigned 27/06/2023 Mrs Val Imms (resigned 27/06/2023) Mrs Helen Yingzi Wu (appointed 1/11/2022 resigned 7/11/2023) Mr Andrew Jennings (resigned 1/11/2022) Mrs Ming Yip (appointed 27/06/2023)

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Epsom Methodist Church

DECLARATIONS

Treasurer

I confirm that I have prepared the accounts from the records of the Church and that they include all funds under the control of the Church Council.

Signature of Treasurer Date 27th February 2024 Name Richard T Smith Address 13 Hazon Way, Epsom, Surrey, KT19 8HD Presentation to the Church Council Meeting for approval. I confirm that the Accounts were presented to the Church Council Meeting on 27th February 2024 Signature of the Chair of the meeting Name of the Chair of the meeting Rev Catherine Hutton Date 27th February 2024

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Epsom Methodist Church

Independent Examiner’s Report to the Trustees of Epsom Methodist Church

I report to the charity trustees on my examination of the accounts of the Epsom Methodist Church (the Church) for the year ended 31 August 2023.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Church’s accounts as carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

The church’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales.

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:

  1. accounting records were not kept in respect of the Church as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

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

  4. the accounts have not been prepared in accordance with the methods and principles of 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 the Republic of Ireland (FRS 102)

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 accounts to be reached.

Name Paul Newton FCA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM1 2SW

Signature

Date

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