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2023-08-31-accounts

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Mickleover Methodist Church

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Annual Report and Financial Statements : for the year ended 31 August 2023

Charity Number 1128907

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Mickleover Methodist Church

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Annual Report and Financial Statements for the year ended 31 August 2023

Annual Report 2023

Welcome to the annual report for 2022-23. I find myself in a situation similar to that in which the Rev David Owen found himself last year, when he had just succeeded the Rev Gill Sharp who had been the minister during the period covered in that year’s report. While I had become superintendent minister of the Derby circuit in 2022, it was not until the summer of 2023 when, recognising that David was facing a number of significant health issues, it was agreed that I should become minister of Mickleover Methodist Church. David’s ministry — and perhaps especially his preaching — were greatly appreciated by many people, and we have been so glad to hear of great improvements in his health in the ensuing months.

So, while I can’t comment first-hand on the events of 2022-23, I can share my broader reflections on the life of the church.

My first impressions, confirmed by subsequent experience, were of a church striving, and often succeeding, to be part of God’s mission to God’s world in the post-Covid era. We are still recovering from the lockdowns and recognising that some things will never be the same. As in most churches, not all who worshipped with us have returned to our congregations. Moreover, in the two years of the pandemic’s greatest impact, we have all grown two years older, and none of us will be the same again! ;

I was struck by the number of deeply-committed lay people whom I encountered wearing a multiplicity of “hats”. While affirming their self-giving, that so many are taking on multiple roles is a reminder that we urgently need to encourage others to share actively in the church’s mission.

I continue to be “included in the loop” of the myriad of emails which circulate among the members of the Business Team as between meetings they ensure that the premises are kept in an excellent — or perhaps rather outstanding — state of repair. We have a superb set of premises which are warm, inviting and welcoming, as well as being well-used.

The Leadership Team ended the year with just four members, severely limiting its ability to deal with all the concerns that come to it. New members were sought, without success, imperilling the effectiveness of the leadership model. The pastoral. visitors continue faithfully to care in love for their groups, with an increasing number of older members now in residential care. ‘

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Our work with children and families is a real strength; not only the leadership offered by Fiona, our children and families worker, but also the support she gets from church members, exemplified by the numbers helping at Messy Church. Also, thanks are due to Naomi, our church administrator.

As Mickleover Methodist Church prepares for yet another new minister in 2024, it has much to be thankful about. However, there can be no room for complacency. Those post-Covid challenges continue to impact us; we are all aware of demography of our church family; we all know that replicating the models of mission which worked so well in the 20" century is not an option.

Yet fundamentally, it is a faithful Church, effective in so many ways. God has not forsaken us, and will not do so. How we can be effective in sharing in his mission and living out a Gospel of love will continue to be a challenge. .

Rev Dr Stuart Bell,

Superintendent minister with pastoral charge of Mickleover Methodist Church.

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Mickleover Methodist Church

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Annual Report and Financial Statements for the year ended 31 August 2023

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Trustees’ Annual Report

The trustees present their report and financial statements for the year ended 31 August 2023. The financial statements have been prepared in accordance with the accounting policies set out in note | to the accounts and comply with the Charity’s trust deed, 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 effective on 1 January 2019.

PUBLIC BENEFIT

The Trustees confirm that they have complied with their duties under Section 17 of the 2011 Charities Act with regard to Public Benefit.

AIMS AND OBJECTIVES

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

Our objectives are in line with those of the Methodist Church which are: -

Mission Statement and Our Aims

Mickleover Methodist Church’s mission is to develop a church family which is continually growing in Christian faith, worship and outreach so that all may know the love of God through Christ. We achieve this as we commit ourselves to God in spiritual growth through prayer and bible reading and stewardship of time, talents and money.

TO BE GOD’S PEOPLE EVERYWHERE EVERYDAY

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Mickleover Methodist Church

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Annual Report and Financial Statements for the year ended 31 August 2023

Our Regular Activities

All are welcome to join in our activities whether members of the Church or not.

When planning our activities, the Church Council and Leadership Team have considered the Charity Commissioners guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion. Our regular charitable activities are:

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Volunteers

“In order for all the Church’s activities to take place we rely on, and are indebted to, the work of everyone who undertake these tasks voluntarily. There are approximately 40 volunteers (mostly over 70 years of age) working throughout the church to ensure its activities are run effectively, efficiently and safely.

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OUR ACHIEVEMENTS ON OUR PRIORITIES FOR 2022/23

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We continue to follow our 5-year plan where we consider our priorities under the Methodist Church Mission Plan template and the 4 aspects of Our Calling, Worship, Learning and Caring, Service and Evangelism. Our building has always been a centre for both the church and the wider community to meet. It has also been a transitional year as we sought to find a replacement minister.

Our overall goal for the next 5 years"

For all those inside and outside the church to grow in the love of God and show that love by serving the Community of Mickleover and beyond.

  1. By offering a wide range of worshipping opportunities that attract those inside and outside the church and help us to worship God in spirit and in truth

This is what we have achieved in year 2

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Mickleover Methodist Church ,

Annual Report and Financial Statements for the year ended 31 August 2023

  1. Offering a wide range of opportunities other than worship to help those inside and outside grow in the knowledge and love of God

This is what we have achieved in year 2

This is what we have achieved in year 2

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This is what we have achieved in year 2

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Mickleover Methodist Church

Annual Report and Financial Statements for the year ended 31 August 2023

PRIORITIES FOR 2023/24

Actions for year 3 of our 5 year plan

Develop our worship and Learning Opportunities

Develop our work with the community

General

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Mickleover Methodist Church

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Annual Report and Financial Statements for the year ended 31 August 2023

FINANCIAL REVIEW

The year in question has seen our income increase significantly over the year due to the success of the Preschool offering increased sessions each week and running close to capacity throughout the year. We are also indebted to our members generous giving that the deficit on the general account at the year-end (before accounting for depreciation) was as expected. In addition, the increased use of our premises by community organisations means a significant footfall on our premises and provides a significant amount of rental income.

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Income trends

The Statement of Financial Activities shows total incoming resources of £289.5k, a significant increase of approximately 21.4% on the previous year. The main reason for this large increase was due to the Preschool offering nine sessions a week instead of seven as in previous years. This increase together with the Preschool running at near 100% capacity increased their income by 49.1% to £135.1k. Income from weekly offertories and Gift Aid income totalled £81.9k which equates to 28.3% of the total income and represents a 8.1% decrease in personal giving on the previous year. This was due to a decrease in membership through death or people moving away. As a Charity registered for Gift Aid, we received approximately £16.7k from the Inland Revenue for all donations and regular giving through the Gift Aid scheme. Income for offerings and regular giving is mainly through monthly standing orders and the weekly envelope scheme with approximately 95% of the total given in this way. .

The rental income of £35.1k was received from all sources including the hire of the church halls to various: groups and individuals in the community. This represents a small increase of 2.3% on the previous year. Income from the two cottages that the Church Council manage contributed £11.3k of the total income from lettings.

Expenditure trends

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The greater part of the income has been used to make payment of £59.5k to the Derby Circuit for our proportion of the Circuit Assessment. This is nearly the same amount as last year and was agreed by the Circuit to help churches through the financial consequences of the pandemic. It equates to approximately 19.6% of our total costs. A significant amount of the Circuit assessment is used to pay the District assessment, stipends and related costs to Ministers. The other significant expenditure now relates to the salaries of the Preschool staff. In 2022/23, the payroll costs amounted to £108.5k. The other expenditure covers the running costs of the local church and these have enabled us to meet the financial commitments of carrying out its charitable objectives.

There is a deficit in funds of £14.3k for the year although this does include £14.9k for depreciation of the organ and other equipment. The total fund balance now stands at £1,914.4k of which £60.9k is for restricted funds.

Fund balances

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As at 31 August 2023 the net current assets of the Church were £100.2k which is more than sufficient to provide four months' cover for expenditure.

The restricted net current assets of the Church at 31 August 2023 were £60.9k giving approximately six month’s cover for expenditure.

Plans for 2023/24

Church financial plans for the coming year have been prepared on the basis of an average of the previous three years subject to any specific anomalies within those figures. Any specific items planned for the coming year have also been incorporated into the financial plan.

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Mickleover Methodist Church

Annual Report and Financial Statements for the year ended 31 August 2023 .

Reserves Policy

The Church Council has considered the level of reserves which should be maintained within the Charity and this will be reviewed annually. Such reserves are needed for each fund to cover working capital, the risk of possible shortfalls in charitable income and other contingencies.

The General Fund is required to meet our contribution to the Derby Circuit for ministerial stipends, our current mission and outreach plans together with the normal running expenses associated with the church. Personal giving plus tax recovered from Gift Aid and income from lettings is sufficient to meet our contribution as our share of the Circuit Assessment and general running costs of the premises.

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It is our policy, if funds allow, to retain reserves of: -

This reserve policy will be reviewed on an annual basis.

There is a further £60.9k held in other restricted funds which will be used according to their designation.

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Annual Report and Financial Statements for the year ended 31 August 2023 - continued

REFERENCE AND ADMINISTRATIVE INFORMATION

NAME OF CHARITY Mickleover Methodist Church

Tel: 01332 735052

EMAIL

WEBSITE

mick.meth2@gmail.com

www.mickleovermethodist.org.uk

The members of the Mickleover Methodist Church meeting are the Charity Trustees, membership being made up of church office holders, Minister and representatives appointed by the church at the Annual General Meeting.

A full list of Church Council members and key lay employees are shown on page 9 of this report.

TREASURER

Mr John Spray

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The Treasurer acted as the principal officer overseeing the day-to-day financial management and accounting for the Church during the year.

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INDEPENDENT EXAMINER Mr A Butterfield Haines Watts Chartered Accountants Cliffe Hill House 22-26 Nottingham Road Stapleford Nottingham NG9 8AA BANKERS HSBC Ple , 1 St Peter’s Street Derby DE] 2AE ; Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE

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Mickleover Methodist Church

Annual Report and Financial Statements for the year ended 31 August 2023 - continued

Members of the Church Council — Officers, Advisors and Lay Workers

Position

Appointed by

Ministers Rev Dr. Stuart Bell Chairman Ex-officio Rev David Owen Circuit Minister Ex-officio (until August 2023) Marilyn Bagworth Secretary to Church Council Ex-officio John Spray Treasurer Ex-officio Dot Thompson Secretary to the Pastoral team Ex-officio Leadership Stewards ; Janet Patmore Worship Ex-officio Viv Richard Fellowship Ex-officio Dot Thompson Learning and Pastoral Ex-officio Janet Tristram - Community and Service Ex-officio Derrick Tuplin Evangelism & Mission Ex-officio (Resigned July 2023) Laraine Tuplin Resources & Secretarial Ex-officio (Resigned January 2023)

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Policy Protection Officers Meryl Spray Safeguarding Officer Michelle Woodcock Safeguarding Officer

Church Council Church Council

Other Members John McCartnery Circuit Steward Ex-officio (Resigned Dec 2022) Peter Nelson Circuit Steward Ex-officio (from September 2023) Mike Bagworth - Church Member ACM* lan Clark Church Member ACM Margaret Clark Church Member ACM Ray Forey Church Member ACM Adam McLoughlin Church Member ACM Pam Morgan . Church Member ACM Phil Royle ; Church Member ACM Margaret Vincent Church Member ACM Sue Atherton Children & Families Worker Management Church Council Mike Shooter Ecumenical Officer Church Council (Resigned Oct 2022) Richard Morgan Health & Safety Representative Church Council Anna Forey Vestry Team Representative Church Council Sally Levitt Secretary to the Business Team Church Council Margaret Clark Preschool Management Representative Church Council ’ Richard Morgan Scout Group Representative Church Council Dot Thompson Girls Brigade Representative Church Council

The position of Ecumenical Officer is now vacant.

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. *ACM — Annual Church Meeting

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Mickleover Methodist Church

Annual Report and Financial Statements for the year ended 31 August 2023 - continued

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Mickleover Methodist Church is a registered Charity (registered charity no. 1128907) and is governed by the Deed of Union (1932) and Methodist Church Act (1976). It is one of nineteen Methodist Churches that form the Derby Circuit which in turn is part of the Nottingham & Derby District and is also accountable to the Methodist Conference.

The registered Charity is a subsidiary of the Methodist Church of Great Britain (Registered Charity no. 1132208). : ,

Organisational Structure

The members of the Church Council are the Managing Trustees of the Charity and are responsible for the aims and objectives of the organisation. It delegates areas of its work to the Leadership Stewards with the help of the Pastoral and Business Teams. The responsibilities of these teanis are:

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Leadership Stewards — Jointly responsible, with the minister in pastoral charge, to give leadership and coordination over the whole range of the life and activity of the church. Each steward has responsibility for evangelism, fellowship, learning & pastoral, community, mission and service, resources and worship.

Pastoral Team — Responsible for and provides information to the Church Council on all aspects of care and well-being ofall people associated with the church.

Business Team — Responsible for and advises the Church Council on all matters relating to financial control, health and safety and property management.

Election and Appointment of Officers

The Church Council consists of the following ex-officio officers:

Three active Circuit Ministers,

The Leadership Stewards, The Church Treasurer,

The Secretary of the Pastoral Team, The Secretary of the Church Council meeting, And one Circuit Steward (appointed by the Circuit).

In addition, the Annual Church Meeting (ACM) appoints between six and fifteen members to the Council. The Church Council may appoint a maximum of fifteen further persons to ensure that all areas of the church’s life are adequately represented and in particular that, wherever possible, young people are included in its membership.

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The Chair of the Church Council is appointed by. the Superintendent Minister of the Circuit, and is usually the Minister given pastoral charge of the Church. .

All office holders and members of the Church Council are appointed annually, and may serve for a maximum of six years. This limit may be extended if it would otherwise be impossible to adequately fill an essential office. A list of members of the Church Council is shown on page 9.

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Annual Report and Financial Statements for the year ended 31 August 2023 - continued

Trustee Training

A range of guidance produced by Methodist Connexion to support the effective running of the church and the role of the Trustees is given to the Church Trustees at various meetings and training sessions.

Risk Management

The Church Council oversees the strategic risk of the organisation with operational risk assessment and management being delegated to the Business Team. Risk control is exercised appropriately by members of the Business Team undertaking a formal review of strategic and operational risks for the organisation. Risk management is encouraged into the organisation by the Business Team coordinating the risk reviews and obtaining feedback from all users of the premises. The major risks have been identified and recorded by the trustees with professional advice taken as required. There is a regular annual review process undertaken and recorded.

Income and expenditure is monitored in total and is compared with the approved annual budget on a quarterly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.

Safeguarding

Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things this implies a duty to value all people as bearing an image of God and therefore to protect them from harm.

Many children and adults use the premises by attending the activities organised by the church and various external organisations. With this in mind, Mickleover Methodist Church has adopted the Methodist Connexional practice to safeguarding which outlines commitment to the following principles:-

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Our safeguarding policy is updated and approved annually and is managed by the safeguarding officers appointed by Church Council.

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Annual Report and Financial Statements for the year ended 31 August 2023 - continued

Related parties

The following organisations are an integral part of this church:-

149" Derby Beaver, Cub and Scout group (Sponsored organisation) 10" Derby Girls Brigade Company Mickleover Methodist Pre-school Tuesday Fellowship Group Little Micklers Childrens Group

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Report of the Trustees and the financial statements in | accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provision of the Trust Deed require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure of the Charity for the financial year. In preparing those financial statements, the Trustees are required to:

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The Trustees are responsible for maintaining the proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the. ‘Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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This report has been prepargd ig accordance with the Statement of Recommended Practice; Accounting and
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On AS. the Trustees-Rev Dr. Stuart Bell
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Treasurer — John Spray

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

I report to the Trustees on my examination of the accounts of the Mickleover Methodist Church (The Trust) for the year ended 31 August 2023.

Responsibilities and Basis of Report

As the Charity Trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 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

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

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

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

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

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.

Alexander Butterfield ACA

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Haines Watts Chartered Accountants Cliffe Hill House ' 22-26 Nottingham Road Stapleford Nottingham NG9 8AA

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Date: 29 Aerd 202.4.

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Mickleover Methodist Church

Statement of Financial Activities For The Year Ended 31 August 2023

Total Total
Unrestricted Restricted Funds Unrestricted Restricted Funds
Note Funds
£		 Funds
£		 2023
£		 Funds
£		 Funds
£		 2022
£
INCOMING RESOURCES
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Donations and Legacies , 2(a) 84,784 3,501 88,285 96,443 4,496 100,938
Charitable Activities 2(b) 47,421 139,770 187,191 32,587 93,262 125,849
Investment Income 2(c) 2,795 : 2,795 311 - 311
Investment Property Income 2(c) 11,280 - 11,280 11,405 - 11,405.
TOTAL INCOMING RESOURCES 146,280 143,271 289,551 140,746 97,758 238,504
EXPENDITURE
Expenditure on Charitable Activities 3(a) -3(b) 168,610 135,219 303,829 148,665 92,298 240,963
TOTALEXPENDITURE 168,610 135,219 303,829 148,665 92,298 240,963
Net gains (losses) on investments
assets ~ unrealised - - - - - -
NET INCOME/EXPENDITURE (22,330) 8,052 (14,278) (7,919) 5,460° (2,459)
Transfer Between Funds - - - - - -
NetMovement in Funds (22,330) . 8,052 (14,278) (7,919) 5,460 (2,459)
RECONCILIATION OF FUNDS
Total funds brought forward 1,875,819 52,824 ‘ 1,928,643 1,883,738 47,364 1,931,102
TOTAL FUNDS
CARRIEDFORWARD 7 1,853,489 60,876 1,914,365 1,875,819 52,824 1,928,643

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Mickleover Methodist Church

Balance Sheet as at 31 August 2023

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||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Note|Restricted|Unrestricted| |Funds|Funds|2023|2022| |FIXED ASSETS|£|£|£|£| |Tangible|Fixed|Assets|4|-|1,512,335|1,512,335|1,520,803| |Fixed|Asset|Investments|6|-|247,000|247,000|247,000| |Total|Fixed|Assets|-|1,759,335|1,759,335|1,767,803| |CURRENT|ASSETS| |Sundry|Debtors|179|26,836|27,015|29,563| |Investments|42,940|68,577|111,517|112,127| |Cash|at bank|and|in|hand|37,913|6,545|44,458|45,593| |Total|Current|Assets|81,032|101,958|182,990|187,283| |CREDITORS:|Amounts| |falling|due|within|one|year|,| |Sundry|Creditors|20,156|6,004|26,160|24,043| |(20,156)|(6,004)|(26,160)|(24,043)| |.NET CURRENT ASSETS|60,876|95,954|156,830|163,240| ||| |TOTAL|ASSETS|LESS| |CURRENT|LIABILITIES|60,876|1,855,289|1,916,165|1,931,043| |CREDITORS| |Amounts|falling|due| |. after|more|than|one|year|5|-|(1,800)|(1,800)|(2,400)| |NET ASSETS|60,876|1,853,489|1,914,365|1,928,643| |REPRESENTED BY FUNDS|7| |Unrestricted|funds|-|General|1,560,889|1,589,115| |-|Designated|292,599|286,704| |60,877|52,824| |Restricted|funds| |TOTAL CHARITY|FUNDS|8|1,914,365|1,928,643| |Approved|by|the Church|CouncilOSH.on|{00.0070 fordONLu..peeee. Qo}and|signed|on|its||behalf|by:| |Rev Dr Stuart Bell - Chairma|CUM| |Mr John|Spray - Treasurer he| |pas|acy dil 26| |The|notes|on|pages|16|to|22|form|part|of these|financial|statements|

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Mickleover Methodist Church

Notes to the Financial Statements for the year ended 31 August 2023

1. ACCOUNTING POLICIES

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Basis of Accounting , The financial statements have been prepared in accordance with the Church Accounting Regulations 2006 together with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) and Charities Act 2011. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise Stated in the relevant accounting policy note. ‘

The church constitutes a public benefit entity as defined by FRS102.

The Trustees’ consider that there are no material uncertainties about the church’s ability to continue as a going concern.

The financial statements are presented in sterling (£).

Funds

Unrestricted funds represent the funds of the Church that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Church. These may include funds designated for a particular purpose by the Church.

The purpose of any restricted funds is noted in the accounts.

“The accounts only include transactions, assets and liabilities for which the Church can be held responsible.

‘Incoming Resources

Voluntary income and capital sources

Collections and regular giving are recognised when received by or on behalf of the Church. Income tax recoverable on covenanted or gift aid donations is recognised when claimable.

Grants to the Church are accounted for when received as soon as the Church is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the Church is reasonably certain. Funds raised by social and similar events are accounted for gross.

Other ordinary income

Rental income from the letting of church premises is accounted for when the hiring takes place and also for two properties owned shown as Fixed Asset Investments.

For legacies, entitlement is taken as the earlier of:

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Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

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Notes to the Financial Statements for the year ended 31 August 2023 — continued

Donated Services and Facilities

Donated services and facilities are recognised as income when the Charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt, where this can be quantified.

Income from investments

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Realised gains and losses

Realised gains or losses are recognised when investments are sold and are calculated as the difference between sales proceeds and the previous year end market value. :

Unrealised gains or losses are accounted for on revaluation of investments at their year end market values.

Resources Expended

Expenditure is recognised on an accruals basis as a liability is incurred and includes VAT where appropriate, which cannot be recovered. This is recognised when a liability is incurred or a constructive obligation arises that results in the payment being unavoidable.

Giving

Grants and donations are accounted for when paid.

Costs directly related to the work ofthe church

The Church assessment is accounted for when payable and any amount unpaid at the year end is shown as a creditor in the Balance Sheet or debtor should the amount be paid in advance.

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

Fixed Assets

Land and buildings and buildings buildings

Land and buildings and buildings buildings , , Land and buildings held on behalf of the Church for its own purposes are shown at cost. No depreciation is charged on land and buildings as the residual value is believed to be higher than historical cost. Previously the assets were held at a revalued amount, these are now shown at cost and this has resulted in a revaluation adjustment.

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Equipment and other fixtures andfittings

Equipment used for church purposes is depreciated over a 10 year period individual items of equipment with a purchase price of £1,000 or less are written off in the period in which the asset is acquired.

Investments

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Two properties at 34 and 36 Station Road, Mickleover, Derby — these are not depreciated and are included at fair value as unrestricted assets.

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Pension costs

The church operates a defined contribution pension scheme with Standard Life. Contributions payable to the Debtors & Prepayments church pension scheme are charged in the period to which they relate.

Debtors & Prepayments

Debtors includes outstanding letting invoice in August.

Creditors

Creditors includes outstanding item relating to utilities and services payable after the year end date supplied before that date. Creditors and provisions are normally recognised at their settlement amount.

Financial Instruments

The Charity has financial assets and financial liabilities ofa kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. )

Judgements and Key Sources of Estimation Uncertainty

The preparation of accounts using generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and labilities at the date of the accounts and the reported amounts of revenues and expenses during the reporting period.

The key estimates and assumptions used in the Financial Statements are detailed in the accounting policies.

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|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Funds|Total|Funds| |2.|INCOMING|RESOURCES|-|Funds|Funds|2023|2022| |£|£|£|£| |2(a)|Donated|Income|—|Voluntary| |Collections|and|regular|giving|61,695|3,501|65,196|70,902| |Gift|Aid|recoverable|16,703|-|16,703|—|18,162| |Donations|(National|and|Local)|6,386|-|6,386|11,875| |Total|Donations|and|Legacies|84,784|3,501|88,285|100,939| |2(b)|Gross|income|from|events|and|activities|.| |Other|Income|—|Internal|Organisation|-|138,693|138,693|92,686| |Fund|Raising|Events|2,304|1,077|3,381|2,746| |Lettings|Income|23,839|-|23,839|22,910| |Sundry|and|Legacy|Income|21,278|-|21,278|7,507| |47,421|139,770|187,191|125,849| |2(c)|Investment|Income| |Bank|interest|2,795|-|2,795|311| |Investment|Property|Income|11,280|-|11,280|11,405| |14,075|-|14,075|11,716| |TOTAL INCOMING|RESOURCES|146,280|143,271|289,551|238,504|

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Letting income - is used solely to enhance the activities of the church and its objectives.

Trustees aggregate giving for the year totalled £27,295 (2022: £28,844).

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Notes to the Financial Statements for the year ended 31 August 2023 — continued

3. RESOURCES EXPENDED Unrestricted Restricted Restricted Total Funds Total Funds

-—-:3(a) Giving Funds
£		 Funds
£		 2023
£
Connexional Funds 1,625 : - 1,625 1,625
1,625 : 1,625 1,625 °
3(b) Directly related to thework oftheChurch Church
Circuit Assessments 59,516 - 59,516 59,060
Internal Organisation - 22,059 22,059 17,289
Insurance and Utilities 8,996 - 8,996 11,664
Property Expenditure 46,280 - 46,280 24,380
Office and other costs 11,077 4,629 15,706 19,923
Salaries 26,192 108,531 134,723 93,712
Depreciation 14,924 - 14,924 13,310
166,985 135,219 302,204 239,338
Total Resources Expended 168,610 135,219 303,829 240,963
Other costs include the Independent Examination fee of£750.
4. TANGIBLE FIXEDASSETS Freehold Land Equipment Total
and Buildings
,
£ £ £
Cost At 1 September2022 1,475,000 114,506 1,589,506
Additions - 6,456 6,456
At 31 August 2023 . 1,475,000 120,962 1,595,962
Depreciation At 1 September2022 - 68,703 68,703
Charge for Year - 14,924 14,924
Disposals - - -
At 31 August 2023 - 83,627 83,627
Net Book Value At 31 August 2022 1,475,000 45,803 1,520,803
At 31August2023 1,475,000 37,335 1,512,335

The freehold land and buildings comprise the land and property at Station Street, Mickleover.

The Church building and the cottage are currently insured for £3,435,284. A revaluation in 2017 reduced the value of the land and buildings to the original cost.

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

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2023 2022
£ £
~ Church of North India Partnership 1,800 2,400
The church has committed to support the training of a Presbyter in the Church of North India, a commitment of £600
for 4 years which started in 2013/14. Repayments commenced this year.
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Notes to the Financial Statements Financial Statements Financial Statements Financial Statements Financial Statements Financial Statements Financial Statements :
for the year ended 31 August 2023 —continued
6(a) Investment Properties . No. 34 No. 36 Total
Two properties at Station Road, Mickleover, Derby, DE3 9GH £ £ £ ,
Valuation as at24 August 2016 undertaken by Graham Penny. 142,000 105,000 247,000
The properties have not been depreciated as they are held as investment assets.
,
6(b) Investments
The funds that support the various funds are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each
month. These are regarded as medium and long term investments.
TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including legacies, Endowments and
Accumulated funds. Trust Property is held for and on behalf of local Managing Trustees who are responsible for the day to day
management oftrust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees
comply with Charity Law and MethodistLaw and policy as determined by the Methodist Conference.
7. Fund Details
Key. R- RestrictedIncome Funds, UR- UnrestrictedFunds
Year Ended 31 August2022 .
Fund Fund
. Balances Balances
Brought Carried
Fund Names Type Purpose and Restrictions Forward Income Expenditure Transfers Forward
£ £ £ £ £
Provide outreach and mission
General Fund UR and maintain the building 1,589,115 118,013 142,892 (3,347) 1,560,889
Provide outreach to children of
Children& Families Worker UR Mickleover - 16,633 19,980 3,347 -
Funds held in memory of loved
Legacies UR ones 2,745 628 . - - 3,373
Upkeep ofcottages owned by the
Cottages Fund UR Church 283,958 11,005 5,737 - 289,226
Provide reliefto the poor and
External Organisations R disadvantaged - 3,501 3,501 - -
Reliefofpoverty and distress in .
Benevolent Fund R the poor 35 - - - 35
Provide care and support to the
Funtime R elderly - 268 268 - -
Support ofyoung children and
Little Micklers R their carers 225 809 860 - . 174
Provision oflearning,
development and care for
Mickleover Meth Preschool R children 49,211 135,112 126,475 - 57,848
Provides care and support to the
Tuesday Fellowship R women ofthe Church 1,053 1,834 1,764 - 1,123
Provide fellowship for the .
Wesley Guild R community at large 320 - 320 - -
Help girls become followers of
10 Derby Girls Brigade R Jesus Christ ‘ 1,981 1,748 2,032 - 1,697
TotalFunds. 1,928,643 289,551 303,829 -__ 1,914,365
DesignatedFund Balance
There are two accounts set aside for specific use, these are:-
Legacies Donation , 3,373
‘ Cottages (see note 6(a)) . __
289,226—
292,599

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Notes to the Financial Statements

for the year ended 31 August 2023 — continued

Year Ended 31 August 2022

Year Ended 31 August 2022
Fund Fund
Balances Balances
Brought Carried
Fund Names Type Purpose and Restrictions Forward Income Expenditure Transfers Forward
£ £ £ £ £
Provide outreach and mission
General Fund UR and maintain the building 1,596,597 118,261 125,462 (281) 1,589,115
Provide outreach to children of
Children& Families Worker UR Mickleover 9,484 9,030 18,795 281 -
Funds held in memory ofloved
;
—
Legacies
Cottages Fund		 UR
R		 ones
Upkeepofcottagesowned by the
Church
Provide reliefto the poorand		 3,944
273,713		 950
12,505		 2,149
2,260
External Organisations R disadvantaged - 4,496 4,496 - -

BenevolentFund R_.__ Reliefofpovertyand distress in
thepoor
Provide care and support to the		 35 - . - -
Funtime R elderly 24 - 24 - -
Support ofyoung children and
Little Micklers R their carers 249 576 - 600 - 225
Provision oflearning,

!
S		 Mickleover Meth Preschool
Women’s Fellowship		 R
R		 development and care for
children
Provides careandsupport tothe
women ofthe Church		 42,740
1,283		 90,597
1,289		 84,126
1,519		 -
-
Provide fellowship for the
Wesley Guild R community at large 320 - - - 320
Help girls become followers of
: 10 Derby Girls Brigade R Jesus Christ 2,713 800 1,532 - 1,981
TotalFunds 1,931,102 238,504 240,963 - _1,928,643

8.ANALYSISOFNETASSETSBYFUND
,		 Total Total
: Unrestricted Restricted Funds Funds
: Year Ended 31 August 2023 Funds Funds 2023 ~ 2022
£ £ £ /£
: Fixed Assets :
1,759,335		 - 1,759,335 1,767,803
- " Current Assets/Liabilities 94,153 60,877 155,030 160,840
Fund Balance 1,853,488 60,877 1,914,365 1,928,643
;
Year Ended 31 August2022 Total Total ;
Unrestricted Restricted Funds Funds ;
Funds Funds 2022 2021
£ £ £ £
Fixed Assets 1,767,803 - 1,767,803 1,781,113
Current Assets/Liabilities 108,016 52,824 160,840 149,989
FundBalance 1,875,819 52,824 1,928,643 1,931,102 ;

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Notes to the Financial Statements

for the year ended 31 August 2023 — continued

9. STAFF COSTS COSTS

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|||||| |---|---|---|---|---| |9.|STAFF COSTS COSTS|Total|Total| |2023|2022|,| |£|£| |Wages|and|salaries|130,988|90,844| |Pension|costs|3,735|2,868| |134,723|93,712|

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The average number of staff employed during the year were 11 (2022: 9), of those 3 are within the pension scheme.

No employee earned £60,000 p.a or more.

No Trustees /Church Council members received or is due to receive any expenses or remuneration for the year. There are no related party transactions to note.

10. PENSION CONTRIBUTIONS

_Mickleover Methodist Church contributes to the pension scheme an amount based on the employee’s basic salary and the employees are required to make a minimum contribution. The contributions for the year totalled £3,735 (2022: £2,868) and there were no contributions outstanding at the year end.

Mickleover Methodist Church had 3 active.members in the pension scheme at 31 August 2023.

11. RELATED PARTY TRANSACTIONS

This Year

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Payments|to|Payments|to| |related|party|related|party| |Description|during|the|year|during|the|year| |Name|of related|party|Relationship|of transaction|2023|2022| |£|£| |JMA|Methodist|Fund|Donation|926|1,105| |Fund|for|Support|of|425|-|425| |Presbyters &|Deacons|Methodist|Fund|Donation| |Fund|for|Property|.|Methodist|Fund|Donation|;|500|500| |All|We|Can|Partner|Donation|190|1,445| |LWPT|Partner|Donation|537|375| |Methodist|Homes|_|Partner|Donation|621|494| |Action|for|Children|Partner|Donation|614|473| |Methodist|Women|in|Britain|:|Partner|Donation|-|109| |,| |-| |in|Mission|in|Britain|Fund|Methodist Fund|Donation|12| |‘World|Mission|Fund|Methodist|Fund|Donation|356|-| |Susannah|Wesley|House|Methodist|Fund|Donation|25|-| |Total|—|4,206|4,926| |“.|There|are no other|related|party|transactions.|

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