REGISTERED CHARITY NUMBER: 1128950 den metI)dISt Cmwch Fin ial Statements f the Year Er¥Jed 31 A SI 2024
Churth Contents of the Financial Statemen for the En ust 2024 Re of the Truslges 1 to 12 Report of the IrKJeFWKlent Audittys 13 lo 15 Stalement of Finala1 Activities 16 Stalement of Financial Position 17 Slalement of Cash Fluws 18 &)les to the Staterrwt of Cash Fkjws 19 Notes to the Fin¢1 Statements 20 10 28
Ha nden Methodist Church Re of the Trustee5 for the Year Ended 31 Au ust 2024 The trustees present their report with the finaneial statements of the ¢itY Ihg year ended 31 August 2024. The truste8s have aJoped the provis)ns of Accounting and Reporting by Chaiitie& Statement of Recommended Pract aleable to charilies prepwing thesr accounts in accordance with the Financial RerKJrting Stsndard applKable in tho UK arKI of Ireland {FRS 102) (effectrwe 1 January 2019). Imh the donated freehold propety recei4Ed w the year (see bgb74V), the church's 2023r2024 annual tumover has eXded the £0.5m threshokl and ha¥ thereth to be treated as a 'large' charity under the provisions of the chtieS Statement of Recommended Practice. It 15 more than likew that 202412025, whtch wrfl see potentia donalionslfvs in excess of £0.25m for Shaped for Mission project {see below), will similly require the church to be deemed a large charity. Trustees belteve that the causes of thi$ inws& in annual tumover are primarty onff financial events that are unll(ely to be repeat irt fuiure years these do not alter the essentid scale and c4MWexty of the church's cyeraknn. The content of this rap)rL whilst addlen9 the increased thsc105ure requirements foT ttee5 to consider. also reflect this k9ck of any materia change to the thurch's Operalwal CircUnnce& As required ty the Statement of RnrK1l Pr8cke tr Iwge chaities. a Stat&)1 of Cash Flow is included in the Financial Statements bel(hv. OBJECTIVES AND AIMS OUR VISION is.. Lives. relatKnships arKi communiiies in this world transtom)ed ty the h)ve of God in Jesus Chrtst. OUR STRATEGY Sh1 in this woth d GThJ is lo.. Encounter God., Equp God's peoFrte: Extend God$ Kwigdom. THE SIX VALUES THAT SHAPE US: 1. Christ-centred Discipleship (which 1$ GLw&relonL Sp"ril-filled dilpI1ned in prayer and Bibl8 readin91 2. Otherantred Care Iwhith is I+fUelled, pgrs0n-tweTsc and attentive) 3. Non-iudgemental Welcome lhieh ts open. Pwrtable and genuine) 4. AMbraCIng Unity (which is uncon(tionaty4oviTh3, mutualy<oncemed ar•d n(¥wartiwl 5. Ouiwar&focused serv {vthich 18 hurtle. generous and sell-s&rthial} 6. Authentic Imtness Iwhth is honest. real arKI confKlent). The Leadership Team currenty comwises." Rav M¥k HammorMI Deacon Sarah ett Parneel Crowlr Nenan prestr1 Mintster DIaCc81 MYu8ter Chair Deputy Chair Cwdinator for Encountering God Communications Coordinator for Equipping Gods Peopl8 Ccordinalor ts Extending GrvJs lfjngdom Ccordinator ChilLtren and Youth Lewis Cox Sally Hammond Nina Gurra Ruth LindrKlge Peter Blxk Mret V4knds Juliel Jacobs Treasurer Lead This year our Churth Stewards. LeadehIP Team and Church CwncA have met regulaTty in person wh the ability lo hokl hybrid meelings kn th¢)se WI cannot altend wi pèrson toioin via video lin
nden Met r Ended 3 2024 OBJECThVES AND AcTIVlEs (contlnu•d) Our Leadership Tean have contirnjed workww the exlended Exe1¥ Plan which was agrJ Church Councl in November 2022 This sel (MJI an ov8rvtV•Y of the scope of our church's activities and priorities for the pericAg up until 31StAuSt 2024. Vthat fallws 15 not meant as a comprehenswe report of all our actimbes, but rather a sanwkn iryJicive of scc¥)e. Volunteers are at the core of &1 that the chwch UJertth, •MI wlhc4Jt sh volunteer supprt the chwch woukl not be able to mount all thé it cuffenty lfft exc of 200 ¥onI8$ work xross many of the chwch's pr¢s. It 1$ not possible k) captwe the hours vKked by volunteers or d1ct contfftxrtion as so m8ny work TeltelY of direct managerial Control but utilise tt action developad ty the church. Charllabl• ststU8 and publk bafft As in past yeats. Street Methothst Churth has (rAItind to provKle mary opwtunilte5 the wider ccthmunty lo raise funds for g)od causes, and we see this as a key pwt of our wry1d-transfMlrffJ wryk. also suPrt and encourage ow rrwnt)ers to gei involved li local. national Mitemationd charities. Many of our meners continuè to hèlp those kncaly who ar• in n88d by 8uppJlirwJ our SHARE scheme. Our Chri$trrtas appeal raised funds to provide Ictsl fnliès 7Atyth supemiarket Vchers * Christmas. Our Summer Share Schem8 provided support to a knal schwl to enable them to offer holKlay elub places to families most in need. Craft bags and essential f(¥)d 5uppbes werfr ten to #Jenlified farrilies through the Share tgam thring the school Ixes. Started initially as pwt of Harpenden C¢n¢S kn Spxes" #iitiatNe, Thursday soup lunches were Irialled by inwtati(M only. Folluwing this trial. the decison was taken kj expand the rexh and create-souper Thursday" Whe our tsleys café vrtwld rernain cpen on Thursdays unts'l 2pm and serve soup behveen 12 Id 2. A crCh member who is a qualifd chel prepared soup exh week Soyr Thursthy8 ran from mi(kOctober to Aprd in Ihis financ1 year. Our ¥onteer.run Wesleys Café has )ntinUed to pro¥Kle a comfortable, fr• and afFordable coffee shcp which. as an aside. makes a SJnrfant eonlritrArtr)n lo thurch funds. kn partnership with Watling View In seeking to providg swjort those k)c81 household5 mc6t offd by the cost-of4riing ¢ri$is, we we ctInuing to partner Harpenden meY Athice Centre ty alw'ng to meet with thnts and potenlial clients on our wemises once a fOrtniL A8 in previous years, we also raised for our agreed ch¥il& indudmig The Haven. M We Can. Chnstian Ad. £tion for Chldren and the Pwi Fèl¢p•tship Ang81s. A number of High Street menknrs ¢onlwiued to $4)yJt Ukramw) famili8& Most d Iho wtrb) were initially hosting famiks helped transition their falieS into Onation li the UK or elsewhgre. Church members who h1 pbjged funds freS tith rded fumhin. High Street continues to host Council- provithd EishI85$S. Our bvorfd and &Ki8ty team Continu lo hohj Just Dest at which a visitiThJ spéaker has gNen talk on a justice theme. There have been three evermngs all very well supported. As wel as equipping t>¥¢ who attend with infcrfrnan a1 ideas. these ev&s have raMI fundsfor nominated Charit5. The tnjslees confwm that they have refefred to the guidarKe contained in the Charity CommiSs)n'S general gLwdan on publ benefft when reviewirYJ the thgrity'¥ aims and objectives and in plannin9 fvtsjre aclivities. Th& Trustees ¢onsider that our thurch is Caty charitable both in ils wttentiw and prathe provides substantiab PU1¢ b8neft to the I(1 comnlty WKkr w(th. The church does not make dyect grdnts to third pW but provKles support to the corrmunty in mY far4eaching in*i8tiNYs. The ¢hurch does not Iur any dwect expenditure on 519 funds for ts future. 118 giving programmes are (p8rated by y(nteerS
Ha
nd8n Methodist Church
rt cl the Twst88s
for the Ye
rEnded 31 Au
2024
ACHIEVEMENT AND PERFORMANCE
CHARABLE ACTMTIES
Wor¥hip
Every week we have o)ntinued to lTrMstroam our Iwo (tiffwent styles of ndaY morniNJ worship and to
operate a 'hytl. mcKlel of thurth - seeking to wickKle tx)Ih thr who join us on sile at th& samfr lime as
continuing to reach those WI jcmn us have conlinuad to rexh throu
n l¥lethodi forthey ACHIEVEMENT AND PERFORMANCE qconthiu• hll8•lon Actlon plan(20202s) In order lo establish our fLrture prKXits. we have folk>wed the process set out in the Methodtst Church'8 "Our Church's Future Story¢. gUKIanr pk and develOpd a Mission Plan for the Iwelve months $tartiNJ 1 Septgmber 2024. Our oJrrent clwrch and inibalives were reviewed. a communty audil carried ojt. and the fiNlings from these were sharod with our Ger)eral Church Meeting al our.8 Day In. on 16 March 224. Tha resuttin9 MisSic Action Plan (2024f2025) wa5 wed by Chw¢h Council in Ju 2024. Shapod lor Ml88lon Bulldlng Prnloct Prior to the onset of tho COVKI pande. PrOjt Ten had be close to fmglising proposals for a subslanlkgl buildiThJ scheme. desiwed to make ¢)ur more fft for our ¢t future missw a¢iivitss. In the Church's ExecutN8 Plan. the Projed Tea)) had been ts5ked with revithling the prcposed scheme to ascertain elements of the larger scheme may be wtsible lo progress. In JaNary 2024, the Proj&t bxesented pr¢)pos to Ihe Church Council a rel#d prcqect- invofving the reorfering af the church nave aTrJ transepts. A ¢m$ubt of the ¢PTch mwTers was laurKhed with a furth¢r presentaion at an ext&)ded Genernl Churth Me8tw¥ r'Btg Day In) in March 2024. Final propwls wer9 agwd ty Church Council in Juty 2024, arKI Project and Leadernhp Teams hove l)egn authorised by Church Council to wogress these through the remainiro corents pr£ (Circuit Distr1 and Connexionl. It is envtsaged that the Fxoiect will bg conyl8t8d sometwrt thiiyj 2025. The current wiiect prowsed is a Wllywned (kmwn. NersM)n the wigiffJl . de8vd to deliver maximum missK)n benefit and fotsjses on vnplementrg phase 2 (dlts) and 3 {hting and blinds) of the orignal project ter 1th son other basr items of inwovwzwt within the Church SP that are requir8d ragardless ofwhether thi5 project proceed& The total wital expen¢thture related remthal WLYks ig Ihereth estima al £21%.360 bui li is to be tome in mind that upward infiationw cost kyessures wil be felt so a 10% contingency has been inCded to result in overall (wital expenditure of É226.996. Because Churth COU11 is also keen to ensure that the main church space. after underting the ove capilal expenditure is fully for wrpose., the project proposal also HarpeThJen Methodkst Church re41er0 {£30.LKIO); stsTrfree access ts) dais 1£13.6551 and rea¢ement da steps {£6,000}. The (werall ¢ost to be fwded und8r thg propjsal is thereforn £276,651 and wt SUFpt of £71,328 has en conffirrrd by Ihg Circuit and £58.659 by the Distri¢a. In bolh case4 the wqecl has sati$ftd the grant As historic funds a fully committed to other projects, Fthlarty Youth it is not Nitended to drthv Fundraising rnMend on 2 September the ful tr)tal be fvnded ty the men>gr¥hip has nc¢AY been rai8ed and the wciect rs thereth fuly bJnded. AS al the approva15 for the project he not yel been receNed no contrxts have been agreed vh tentid suppliers, it is not to tre this prospect exp8ndilwe as either a Post Balance Sheet Event or a Capilal Comrrithent in the Notes to Ihe pL(nts {beltr). Bulldlng Malnt•nan Our maintenance team hwe conlinued to tffk hard to our buildings li exce118nt con(lition and dgcoratiw. DuriTrJ the period coveted by thi5 rewt tlms ha5 irthed dealg wlh Wing roots and the redecoration of our LX Yothh Contre. Th• Mlnisty Team Our Ministry Team consist of ordained slaff. Math H•nmond and DeOn Sarah Wekeli plus one lay mèmb8r. Le Cox (Communintsons and V)fship C(hxdi78tor). Thi5 tean continu88 to meet reguty to plan our Sem series worship to 8nswe we make fvl use of the and of our membership. Sadfy, Deacon Sarth was unable to tLause of health issues. bul we are delighted that she has now started her phased return to fult tKne rninistry. Pag04
nden Meth Re rtoftheTnJ for the Year En Au ust 2024 ACHIEVEMENT AND PERF014MANCE (wrtthued) Support Staff Our staff team - made w of emK4tyees u$ a numbw of tallY fv14ime volunteers - has continued to support and help develop and communicate all that we do as a thirch. As ha3 akvays been the case, the staff tsam $upp)rts and 1$ SUprted by. a vast team of vc4unteers, who are ertgaged in all xlmties across th& church. Rttruitment of VolteerS contiiues to be an iw)rtant part of the process, and we are C17UallY short of ¥dunte8rs to th) all that we wish to (h). Youth Work A parti¢ular highlght of this past has bw the of our Lead Youth V4t1$r. Ruth Lindrge, who commenced Twryk with us from Sunday 1st Octoter 2023. The enthusiasm and car8 that Ruth ngs to this imFwlant role is ffd) applated as we conlinue to build back our yout1WOrk followirvJ a number of yearn withtyjt a paid youth worker. Ruth is tIkling strong re1alKsh1PS with the youThJ people. parents ¢hur¢h members. A small but very c41nled group of volunteern WO with Ruth on the youth team, it remains a mity to w this team and devek4> the youth prOgrme. Chlldr•n's Church Children's Church contr'nues lo at exh &Jnday ftv)mvvJ f48P4rn The Childn,$ Team wothed with the yi)uth worker. Ruth LiThJridge to plan this yearfs tranS"On. The year 6 thiktren movad into the LX at the stsrt of je. Parents were also inviied for coffee ben the Ser so that they coutd see the LX and meet som8 of the y¢yJth teanL Examplm of Some of Our Ilany Inltlatlv•8: Tea . Thk% weekly for okler mwnbers. for fell¢xship. friend8h¥) and spiritual conversation continue5 to thrive. Home commUnn- Our Home CommunA)n Team have continued to offer extended Coffmunion to th08e of our Chur¢h Ccrfnnwnty who ¥e housetknjnd. Building B$ - Bu1r B1kS has Conti and is stl very f¥wlar for Pants and toddlers. A puppet nth.vity with songs was perfonned in the chureh for the last two ChiTstrnase$ for all those attending Building Blocks. It was hugoty ¢njoyed. Atpha and Bible Courses. and homegroups - trry this we have run regular Ajpha and Bible cours8S to s¥Jpport the spiritual gmwth of all o)mers. aThJ we have continued to eAUrage WKI sum our many ¢hurth home groLPS. FINANCIAL REVIEW Flnanclal po8lllon The fanCIal results forthe yw are 8PKym on pa9es 16 and 17. The charity. like most other organi5a1i0 primar reli•)t on giviry. has tem the imp&t of the nat)nal cost of INing crisis and, whilst regulaf gwing has declbned by some 5% in the year, this has been more than c¢¥npensaled by increases swJr•J in 18ttirys incjyne pkts irKreased interest on bank deposits. The ¢hurth hohjs all its liqikyl assets at cash de[ at ils barers and holds rn tscial investments. Adingty. it does not require an inves111 pdy. The malty financial event for expenditure in the year was the recruiiment of a Youth Ilbrker from October 2023 wh¢ch has in¢reased in Ihe year by some £43k. i8 a )ternI )vestmenl in Youth V4i)rk which tnjstees deem crucial in secufing the church's kJnger4em security. The church has amassed substanlial hr6t0 liquid reserves. and thase all¥ th& chur¢h to ¢bty fund tr* $hort-term deftits currenlly tem9 experience
nden
Chu
Tru5
31
FINANCE REview (contlnu•d)
The church prepar88 annual buthJets a trer term (5 yew) fmKaal so that it be fvwK4aly
comfortaLle going foNrnrd. T8$ we w•4are that these do shuw 8 dèpleti of avalble resgNes as
a result d empbying the YLMJth V4tJrf(er and feel confKlent that giving and other income sources can be
imwoved to ensure these costs can be cAJver&l in the knryer temi.
Overall income for the church in the year rose ty £911.9)3 to £1.320.043 in 2023f24. Hty¥ever, ariSK out of
the cbosure of Southdw Klethcdst Chwch. this i1leS the e-Off trsfer at no cost of the freehokl
intere81 in the Cp supemiathei at 130 sl?J
Church Re for the Ye nded 31 A st 2024 FINANce ReviEW (contknu•d l. G•noral Fund In the Genera FLtnd, overg1 inc8 rose ty £13,086 cffi Ihe back of £18.000 increase in rentsl income. Barclays signed a on&year lease £10.OCK) and revenue from Herts County Council f¢)se by £2.690 fdlowing the renelval of ther annual agreement in December 2023. Income from wing including Gift Aid sl¥)ped by £1.W1. There were again no legrn. ' dOnats held steady at £21.1n. Expenditure in the Gwwal Fund totaled £390,583. some £77.707 Iwjher than the previous year, due primarily to the l¥al of our Lead yrth IAtrfker in (ktobaf 21723: ytyjth expermlilures rose to a more normal £46,44412022r23.' £2,684). Required Iransfors to tq> up the Organ, Methum Twm Propety. Heating AudirpV¢sual Funds totalling £33,182 were made. leaw'ng a reojrrent Oper8tUl9 Deftit li the General Fund of £34,884. The Youth Funds were drawn down by £45.403 b fund th8 youth expendures. offsettwig the deflL We also beneffted from a Circuit Utile$ grant of £17.631 12022r2023.. £973). introduced after the slwp in¢rease in electricty costs that folkywed the Ukrae KI continue mtil June 2026. As a large ¢hurch with a congderaile of local and overseas MISSK atal¥1¥, the thurch aims to hold sufficient INwid reser¥es in the unrestricted Genernl Fund to cover ¢ir¢a six months. or 50% of annual recurrent expendilures. In calculatiNJ the Reserves Ratio. we exdud? Unrestr1d donations to Methodist Fund$ and <hretIonary transfers t(ffin ¢)ther Fund& Ary significant re(kKlicffl in gross wKome w irKrease in cosls that the trust$ ¢on$dernd likety to be permanent wouhy activate cost reduction measure& In framing Ihis policy, the truslees are mindful of establishing the correct balance bett¥een frcial prudence and property expenthng fund$ ratsed for the ¢hur¢h'$ charitable otiectives. They ackrnwledge that the ReseNes Pohcy shoukl be assessed ncl just on historic basis but akn against medium and finarKo1 proieciions wt4ch Ilw revivw regularly and at least annualty. The 2023124 financial year qned wilh the Re8er¥es Rakn at 48.3% and it ended the year at 48.2%. still ¢crfnf¢Ktably within range of ts largrted 50%. The currenl &y8ar Finance Plan daleS that the General Fund reserves rat$ can be maintained at or around 50% to 2027r2028 ttrM)ugh Mnproved income and jtwJiei¢JJS but prlent use of histfflc res8r¥8s. al within our Ch¥ita cknjectNes The accumulation cl unrestricted arnl desunated re$ep over past yeats is FXOVtng fijrtutlous to mget the ¢urrenl challenging enbllronmnt F(Y example. the DesvJnated Youth Fund 15 forecast to Iet youth expendilures for the next three years. The trustees are of the that the financial position cl the church is sound but will bè vigiknt to rext as rcessary to any detefioralion. Longer temi improvements in gving are teing sought to ensure continuing finar181 stabilty shouhj these crcumstanc8s chang8 then alemative measures would be considered to maintain financial skn"bty. 2. Ra8trlctod Fund$ The BenevcAence Fu1 xcoMnateS al ow SFIARE xtvthes 8inwllaneousty meetiig the Tequiremenls of StandiNJ Order 651. Donations inchjding Grfl Aid lolaled £6,578 and onward donatnS of £5.869 were made, incluthng voucher¥ for to Christmas SHARE aThJ a variety of children's and fami athivities for &Jmmer SHARE. The StandW of Methodist Chwch pkn restnctions on the Benevolence Fund and it will be necswy to keep a bxk for one-off itwns: sU5 funds wiu be used to support People n need. The Special Colle¢lion$ FurKI houses collections mounted regularty in $upp)rt of third-paty charities that share the thurch's charitablg Oty'ectives. Thesfr cleaty reStted as to use and are passed lo the tlwrd-paty charities wrythout delay. In 2023r2024. these totaw £8.1)09 (21r22123: £52201. The $trted Youth )rk FuThJ ¥Ms drwi thwn to its full extent of £15.0 as youth activities gathered momentum. from the dosiNJ intwest recept of £185. thi8 fund is exhausted.
1st Ch FINANCE REVIEW (contlnu•d 2. R•#trIct Funds {conllnu•d) New &Klio vi¥ual and pub¢ addr¥ equkwt was iistalteiS in 2020r2021 at a cost of £119.531. It Is capitased in the restrirled AthYIfTrVUaI Fund and is bel deweciated over 10 years. Thg ong restrted legxy fund hehj at TMCP (acctytht 197() had a balerte of £1,5n at 31 August 2024. There wa$ no drawdo on the fund durin9 the year. The remaining balance is suty'ect to 8ettloV$ restrict)n th8t fimd$ be u8ed Ihe pro¥ra dllowers wi Ihe ¢hwch and wll covw this thiectr lor a white yét The hgating system prc4ecl was c<ynplelad in 2014r2015. and the fiwj Kryety dement of the expenditure wa$ transferred to the Endowwj F¥4)erty Fund. The balwKe of the expenditure. primarily the new boibrs and controls. has been clwd against this reslrthd fd. It has b8en capitslised and will be deweciated over 30 years. 3. D•8lgnated FUD The dgsignabj Medium Tem prop Fund recwi5es the r6pair c£mmllments d our premises as well as tsir Unpredt91e timing nabjre. The trustees urKlertake a ¢omprehen$i¥e assessment of sh longer-temi cycl1 IK8tilit¢es ann•. estwnaling thgir Ilrety cost arKI wobablg timing. The opening balance at 1 September 2023 was £47.267. During ts year, expeNlitures of £13.264 were Incurred {net of VAT recovery). inchyjirq repawÉng roof leaks above transepts and Wesleys. refurbishing the LX and a CCTV system. The topup (J)ntributk)n frcrfn the General at year end w8s £16,869. This was bolstered by the injadMM from South(bwn of £49,694 mentiongd aLe aNI resulted in a closing balance of £103,264. held at the Central FIrta Board. The Trustees believe that the balance is adequate for fure major repar 8tlitIes. Th8 obi&tive of the ktssion D8vekYT Fund is to the cogt of inW8menting the mtssion strategy developed at the Churth's Strategy Days. The opening balance at 1 September 2023 was £266.397. The fund beneffted during the year fr(Kn a £5.0 on&-off dcrkition ptus Gift Aid arKI the relum, wilh interest. by the COnnexn of High Strfs 2021r2022 Volunt donation of £10.0 (paid from the TrAi85h)n Developmenl Find CFB tsa a¢¢wnti to the Cijnrwiorral wsitin fund: * transpires this was not needed as the pensK)n fund had retumed b a wbstAntial surplus. The cloging Iw)d balance was £297.300. hekl at the Central Financo Board 1£146.603) and in a Model Tntst Fund account at TMCP (£139,842), with the donation to Ihe Conrxion's p8nsion received li O¢aober but re¢<wtsed as a debtor at 31st August 2024 in Ihege accounts. The desYJnated Youth If4knFk Fund t)pwd the year al £149.772. ft Tas drwm (%)wn by £30.347 folb)wing th8 emptyiryj of the Restricted Youlh Fund to help fund the yc4Jth aclpiities beneffted the £21,000 injection from Southd Iment¥)ned 8bov81. The cbsing fund balance after inlerest income was £148,256, split as to £33.139 in a Model Trust FurMI ac&iunt at TMCP aTrJ £115.117 at the Central Finance Board. Tho annual trartsfer from the General to ts On R6futhtrrnt Fund of £2.OW was made, taking it year4nd balance to £17.567. 4. Endowm•nt Fund• Folcrwing the implementatwjn of FRS 102. a rebised xcountry poky was established and implemenied as at 31 August 2017 and the opening value has l"Usted for the &kn&mentr)ned increase in the value of Endcwed Funds causgj by the thrHlion of the freeho woperty at 130 Southckiwn Road at a va8 of £800.000 (see Accounting PolKxes).
nden Me
rtofth8T
for the Year Ended
1Au
STRUCTURE. GoveRNANCE AND IMNAGEMEKr
Gov•rning docum8nt
The charity is controlled ty ils sY>vernww doc[ a de•J of Intst JKI ¢ortstitules an unirttirpord
charity.
Organlsatlonal structure m•n4g•m•nt
Harpenden Methodist Church was fomled during the 191h ntury but moved to its current
premises in 1929 and is a church within the M8lh&Jist Connexion in Great Britain. Its address is Hb Street,
HarpeNJen. Herts. ALS 2RU. Its constituticffi is gfftm8d ty an d of Plkqmert . on 1 April 2009, it
became a registered ch¥ity wrth registered 1128950.
The Charity 1$ a Constituent thuTth in West Hwts * Borders Methodist Cniit. an umbreffa groupin9 of
22 kncal Methodist churches and thrOh them to the Beds. EX and H&rts M9thc4Jist District These
umbrella organisati¢)ns exercise a degree (rf contrd over th8 thurch's operation through the Connex101 rule
t¥)ok. C¢)nstitutional Prlice and DiscirAin8 to wthich the churth is eommrtted.
The Leadetship Tean (see ove) is constituted and agreed wtnualty by the Chur¢h Council (al trustees)
and prepares an annual Execuiive Plan. to be approved ty trust, of 8£tioM to be ta(en to further the
church's Charitable otyectives. The Plan is ravied at eath Leadershy Team meeting {monlhly)
Prog85 r¢oted and remediation agre&J if reouir&J. Al maior dècishjns outside Executive Plan are taken
by Iruslee$. a$ a whole. at their quarterly meetings more meetings scheduled if required. Day to dgy
Operatial decisions are ddegated ty the Lerslw) Tèan to emred staff andlor volLmteers
New trustees are invited lo Wicipate in twstee in(kKl)n and trainry on appointment. Pol195 are in place
cowing safeguardirwJ. serious inc#lents and comF4aints.
The remuneration of employees is govemed Iw the Fwwbee Committee and approved by Church Council.
Remuneration for lower patd staff, is govemed by Ihe rate set nalionalty by the Living Wage Foundation.
Correspondence reliry to finarKial Matte Shk1 be sent to the Treasurer at th8 Church Office at the
addre$$ Shown t¢low. All other correspcffldence shoukf be thected to Ihe Minister. aso at Ihe Church OffKe
at the address shown bel¢M.
Trustees are apwinted to Church Council ty the Genal Church Meeting and Church Council as and when
VaCancS arise. The Rev ma Hammond. Preswial Minister. is the Chair of Ihe Church Coul11 and
Pameel Crowther Newman is the Chair of the Leadershy Tean
Rl•k manag•m•nt
The trustees have a duty to identify and review the risks to wlxh th8 is exposed and to ensure
appropriate ntrOl$ are in place to provKle reasable assur fraud and error.
The trustees. advised ty the Finance arKI ProFfty Committees. regulaty ex1 the princ¥)al areas of the
Church's op8rations and consvJ8r the major r fxwj in these ar&qs. The chur¢h has devebped a set of
Financkql Contrd prttedures, to whth managemenustaff are c4Jmmrtted, that ensure proper internd control
is nwinlained These are revithd annuaHy to enswe tlw aFvr
nded 31 A REFERENCE AND ADMWISTRATIVE DEfAILS R•gi8t•r•d ¢harlty number 1128950 Prlnclpal drS Harpend•n Methodist Chur High Street Hary>6nden ALS 2RU Tru8t••8 - prlnclpal offkorn Rev M Hammond Mirrfster Deacon S WKett Deacon M R Woods Treasurer Th08• who r¥•d as durlng th• ywr and to th• dat• ofthls r•port •rn a• follo. Ministerial Team: Re¥ M Hammond Deacon S V4fj¢dt Circuit Appointee8: Rev R Hawkins O Edney Church Stgwards.. Jones M Michels {retirad 01109r2023) C Wollaston K Jackson-RobbirYs A Sono18 N Gurra J Jacobs G Knighdey C KnBhlley M Richards D Choi {opwnted 10110r2023) M Lawfwd (appointed 01106r2024) A EfunbaJ'¢ {app)inted 01106r2024) Secretary of the Church Coun. P Bayfield Church Treasurer. Pastoral Sttretary: M Grand Members 8ppointed by Coun¢t. S HamK1 Lcox E l•Vgne L Schlich (retired 31)101r2024 txrt see beltrw as 16h)3r2024) Page 10
Ha n Methodist Church forthe Y rEnded 31 A ust2 Thw who Mr¥•d a8 Irust•ts durfng th• yr and to th• dats of r•port •r• al follows (continu•d)' Representatives from the General Church MeelirvJ.' R Alkins P Atknns {appoKiled 16h)3r2024> Dcrv R Manning B Carter (resied 12101r2023) J Prenttce F Gardr (retired 16103r2024) J 8rooke•Hutss C Flel¢her C L8wis-LKn C Meimc A Lusty {retired 01109120231 M Pearsc S Pearson J Polley C INald8n P Nny¥d L Schlich (appointed 16103r2024) S Morris l¥poirrted 16103120241 Audltors Hicks and Company CharteTed Accourtants and Stalukny Auditor Vaughan Chambers Vaughan Ro*1 Harpenden AL5 4EE Bank•rn HSBC Bank Pk 1 High Street Harpenden AL5 2RS Central Finance Bowd 9 Bonhill St1 London EC2A 4PE Truste8s for Malho¢Jst Church Purposes Central Buildings Oldhwn Straet Mancheslfrr M11JQ Unty Trust Bw)k plc Nln8 Brindlty Place Binningham B12JB Page11
hu
En
TRUSTEES. RE8PON8IBILrrY STATEM
The truslaes are respjnsible kn preparing the Rqyxt of ts Trtee9 and the fInCHI statements in
cordance wrth applicable l&v and United lfjngdryn ACcnI1j standth ILknited Kingdryn Genèralty
Accepted Accounting PraciKe}.
The law applicablg b ch*ilieB in Ensland and Wths. th8 Chaiti8s Act 2011, Charity (Accounts and
Rgports} RUlationS 2(Xi8 and the W0.$10n$ of Ihe tNst deed reqwes Ihe trustees to prepare financ¢al
statements for e¥h financial year 7thh gr a Irue law ¥1 of the stale of affays of the charity and of
the Irorning aur¢0$ and 8PF4icalM?n of resources. includirKJ the inc(Mne and expenditur8, of the charity for
that period. In preparirwJ those financial statem. the Intstees are rnquirad kj:
observe the melhods and prinejples in the Charty SORP,
make Igements and eslvnates that are reasonable and
state whether applirable accounting standard$ have been fcthywed. sleCt trJ w rnaterial departures
disclosga and explained in the fThncial slatements:
prepare the ffftarKia statements the goirg c
of Ihe Inde dant Auditors to the Tnth of 1st Chu Oplnlon We have audited the finan¢o1 ststwn¢nts of Melhodist Church (the 'dwity') for the year endod 31 August 2024 which comprise the St8tement of Financial Aciivibes. the Statement of Financial Position. the Statement of Cash Flows notes to the financial stslements, induding a summary of signtfKanl a¢untIng policies. The finala1 reporting framw4¥0rf( that has been appled in their rKeparati¢)n is applicable law aThJ United lQThJdom AccIntIng Standards {United Kinfvn Generalty Accw Accounting Practice}. In our opmion the financial statements" give a true and fair Vie•V of Ihe slate of the chwity's affaits as * 31 Aug1 2024 and d its irtoming resources and appbcat)n of resource& the year then ended.. have been wrIY preptred in axordance with Unrt•J Krydoffl Genwally P•d Accounting Practice.. and . have been prepared in accordance with the refwinnents d Ihe Charits kl 2011. Basls for oplnlon We corKlucted our a111 in OrdanCe with InternatN stalad5 on Auditing {UK) IISAS (UK)) and licable law. Our responsiblrties undgr tlh)se slandards 8re furfher described in the Auditors, responsibilities for the audit of the financial statements sthin of our rewL We arg iNlyj8nt of the Charty in accordance wth the ethKal requiremwts that are relevant to ow alIt of the fmancial statements in the UK. includirwj the FRQS Ethical Standard. and we have fulfill8d our other ethic81 responsibilbties in a¢¢ordan¢e with these requirements. We belittve that au(tht evvJeThx have (kntsined is suTri8nt and appropriate to provide a basis for our opinim. Concluslons rolatlng to golng Mn¢wn In auditi.ng the financial slatements. we have that Ihe trustees. use ol the goiig concem basrs of accounting in the wepion d the finaKial stateMts is appiow. Based on the work w8 hav8 pwlormed, we have nol KIenti any rnaleri wKerts'nties relating to events c condlions that. indNKlualy or coleciNely. may cast sig)ifKant dbt on the charrvs ability to continu8 as going concem for a period of at kast rnonths frIMn when the financHI slalements are aulhorised for issue. Our responsibilrti8s and ras[bS ol the tru8tses wilh respgcl to going concem are described in the relevant sections of this report. oth•r InfornwtK•n The trustees are r8SPOllsible f(Y the other The Oth infommlion CLYnpri5es the information included in the Annual Report other than financia staewts and our ReFK)rt of the Independent Auditors thereon. Our opinion on the financ1 stateMts does not covar the ottr infom)atson 8nd. except to t extent otherwise expliaty Stated in rewt. we do not express any I ofassvrance u)nclusIc thereon. In connection our audit of the finarKial slalewts, our Tesponsibihty is to read the other infomation and. in doing so. ¢onsider whether the Oth inforn)atsM is materialty ineonsistent with the financk?I stslements. or our knch¥ledge obtained in the autht ty thrwise appears to be materially misstated If we identfy such mrial irtonsisterKies or apparent material misstatements. we a required to determine whether this gives lo a material misslatement in the financial staiements themsefves. If. based on the work we have perfomied. we condudg Ihat thgce is a material misstatement this other infom)at1c. we are required to report that lact. We have nothing to rei>Nt in Ihis regard. Mattern on whlch vrn aro requlr•d to r•port by Oxcepllon We have nothing to report in respect of the f01hIng maters where the Charities {Accounts Ror[5) Regulations 2008 requires us lo report to YOU bf. in our qjinion.. the infofmation given 17 the Report of the Tntss is Ir$nI i) any material respectwth financial statements: or sufficient accounting records have not be8n k8pt. or the rmanc1 ststements are not in agfeemenl wilh the COUnti1j records and returrr8,' or . we have not received all the wrf(ffiiat)n and 8xplanions requw8 for alIL PwJe 13
Re Audiiors to the Tn nden Me RponSIbIlItIa of Iw•tM• As explained mcKe fully in the Trust88s' ReSpSlItS Statemrt the Inrntses are re5ponsibl8 for the preparation of the fina181 statements whith gr•8 a tnjo and fair viow. for such Htsmal control as the trustees determine 18 nec£ssary to enable the Fyeparation cl fman¢ial $lments that arg free from material mwststemenl WI (lu¢ tr4 fraud or errc. In weparing the financial StateWen the trustees we respon for 8ssgssing the tharity$ abilty lo continue as a goiThJ Goncem. di8¢bsiNd. a8 8Fs¥hc8bl8. mottars related to go9 conrAm arKI using going concem basis of aco)unting unless the trustees either intend to liquidate the chwity w lo cease operalions, or have no reafistic rnative ixrt to do so. Our IMponbIltt109 for th• audtt of tho flnanclal •tatw We havè been appoited as auditors uler Seditin 144 of the Chartrs Ptt 2011 and report In acrxydance wth the Ad and relevant reguLgtM)ns made or having effect Ihereunder. free from matenal mis8tateffrt whether due b fraud or error. and to issue a Rewrt CA the Independent Audrtors that includes our OFinK)n. Rea$th assurance 15 a high level of assurarKe bul 15 not a guarantée thal an audit ndUcted in CCd¢9 with ISN4 IUIQ wdl detect a material misstemenl when it exists. Misstatermnts can arise from fraKI or error aThJ we consitsred fnaterial rf. yUally or in the aggregate. they cOuj reasonabty be to infiuenee the n0m ¢Y910n$ of users laken on the basis of Ihese fin¢181 statements. The exlenl to which ow pmcethres are cap48 d dtwwJ Wregtsilies. wKludrig fraud ig detaded b8kiw.' Irrelll1es. indudiry fraJ. ore of nOTreIk?18 ilh ls and regulat¥M. deswjn Pfocedures in line with our responsibilities. oullined above, to detect material misstatements in rnsp8ct of 1rr8gu1arits. induding fraud. The exlenl lo ow ced ¢yble of dete¢ting kregularrti88. Induding fraud is detaded bet(hv: Based on our underslaTxlK¥J d the entity sectcy in TwINth l opwates. we idèntrfled the kyincpal risks of non•cOmpliCe wilh laws and regulations relatffig to the timed MPry. Vve also considered those laws and regulalions that have a clrect impact on the yepwakn of thè financial statemerrts. We Gommunicated identified laws ragUlanS throughout our team and remaled alert to KK1atrk% of non<ompliance throughrt the wd agsessed the suscepttriilty of tr ¢ompanies' financia5 slatwnents to material Mtatement. indLKling obtaining an understanding of htr fraud may ¢xcw. by mirvJ enqur$ of the dectOTS Manornent as to where they considered there was susceplibilty to fraud and nShriJ the ternal controls in place lo mrtigate fraud risks and nofv¢ompliarKe wilh la afKI regubtiL In respjnse b the ri&k offra1 through Mart lyas the rk of OV1e of Controls) and the rtsk of ifregularities wilh and regulalK)ns. deswed ryoc£thres which induded, trJt were not limttad lo: . wfming aD8tyb'cal prwedures to idertrfy unuwJal or un8xpected tr$3¢110 . a5se56Mw whether juthjenwts arnl assumpt$ made w) detem)ining xcountiTrJ eytimatas were indKative of potenljal bk2s - performing cornplelene5s of income tests - test checking appropriateness of joumal entries . agreeing finanaal statement disclosures to the underty¥U SUPFXNtwy thjcumentation . checking for correwdence ¥<h the COanIeS Hou8e - reading the minuies of board of d¥ectors' resoluti¥ - che¢king for any actual and Fntial litytion arKI ctawns in&Jding inspecting legal cogts . ¢hen9 for any aciual and rAltential enwirès from re bodies PJo 14
rtofth Inde
nden Me
ndent Audi
hurch
Our r•8pon8lblliv for th• audft of the flnancial stateffl {¢ontlnuodl
There are inherent limitakn"on5 in our audit pwocethjres outlined above. The moro remove(I that laws and
regulations are from financial transaclions. the likety it is Ihat we would become aware of
rKJn-c¢impliance. Auditing standard$ also Iwnit the audit kyrxedures to identy non4orr¢Jlon¢e with laws and
regulations to 8nquiry of the threCtO and olhw management and the inspedion of regulatory and al
correspondence. rf y. MaterAI mi5Statements Ihal arise due to fraud can be harder to deteca than those
that arise from error as they may involve delibe cancent or collusbjn. We are I1 responsible for
prevenlirvJ nonrycffjnpliance and cannot be exFethd to detect tanp11ae with am l&vs and regumions.
A further description of our resp)lItIeS for Ihe athJit of the finarKi81 StateMts is kxated on the Financial
Reporting Council's websrte at ¥K4Y*.frc.¢)rg.ukJaAlitwe4WlyIs. Thi& descrytK)n forms part of ojr
Report of the In
n Meth Chu ment for th Y End ial Au ust2 31A24 31.8.23 Total fund8 nds INCOME AND ENDOWMENTS FROI Donations and legacie8 14 O.IX#I 1.169.579 286,014 Other trading aclivit Investhient income 115268 31.685 11 115268 101,480 20,686 Total 501.947 0 000 1,320 043 expENDrruRE ON Charit4blè athltl•s Charitable a¢livibes 28.1 416.014 NET 1N¢OMEI{EXPENDUREj Tran8f¢rn ts•tl fund• 112,378 {10.094} s00,( 901284 {7,874} 15 N•t mov•ment In funds 113.121 {10.837) rf1.1th 902.284 17.874) RECONCIUATION OF FUNDS Total fvnd5 brought fLward 696.9n 210.196 W,716 1.871M4 1.879,758 TOTAL FUNDS CARRIED FORWAIID 199 1 871884 notes form wt crf It ffirAncial statements Pag9 16
Ha nden Churth Igmenl f F. 31Au ust 2024 31.8.24 Total fund8 31.8.23 Tot funds fiJ]S fijnds FIXED ASSETS TaTrJ*Jle assets 11 1 110828 CURRENT ASSETS Debtors Cash at bank 12 13 Tl.521 816.913 66.438 710,604 69.919 821962 70,472 893A34 777.042 CREDITORS ounls falling du8 wilhin year 14 (17.427} (17.427) 115.986) NET CURRENT ASSETS 805.635 472 876.IJ07 761.056 TOTAL ASSETS LESS CURRENT LIA81UTIES 810,093 199,369 1.764,716 2,774168 1,871,884 NEf ASSErs 1764,716 2.774.168 1871.884 FUNDS Unrgstricted funds Restricted funds Endowment funds 15 810,093 199.359 1764716 696.972 210,196 964.716 TOTAL FUNDS 77 LL168 1.871.884 Tha financial ments were approved Board of Trustees and wJthori5gd for is5 on Rev M Hammond - Trustee o• Page 17
nden hurch r Ended 202 31.8.24 31.8.23 Cash Ilth from oporatlng a Cash ggnerated from operations 32,595 Not cash proNided ty operating aclr¥ii eA8h flo** from Inv••llng a¢tlvlii Purchasè of tangible fixed assets sa of tangble fixed assets Interest rwEived 1803.618) 11> 35.196 N8t cash (used inyprovtded by trleS Cash flows from flnanclng activlll¢o Inccffle attributable to endowment t cash prtyided ty fmanciry activitBs 800.0 Chang• in ¢•sh and oqulvalwrt In th• reportlng P•flod Cash and ch •qufvahnts at th b•glnning of th• raportlng p•riod 105,309 53.260 Cash and ca8h ¢qulv•l•nts ai th• •nd of tho rnporting p•riod Page18
Ha nden M t Church Notes to t for the Year En ment of ed31Au RECONCIUATION OF NET cOME1{ExPENDrrURE) TO NET CASH FLOW FROM OPERATING ACTMTIES 31 A24 31.8.23 Net Incomrf•xp•ndlturel forth• reportlng p•rlod (a6 pwth• Siatemont of Financlal Activitl•s) AdJu81Mts tor. Depreciation charges Loss on disFKl of fixed assots Inler0sI received Income attritrtrtabl8 lo ermkrrnt In¢aSe in deblors Incr8asel(decrease> in cred*o 901284 17.874) 16.315 18.885 54.114 (20,666) (35.196 <800,0001 (11,083 (10.202) Net cash Provid by •yratlon8 ANALYSIS OF CHANGES IN NEf FUNDS At 1.9.23 Cash Il¢y At 31.8.24 N•t cash Cash at bank 710.604 105.309 816 913 Total 710,604 815 913 Pffje 19
nde
Notes
Fina
Ye
24
ACCOUNTING POLICIES
Basls of pr•paring th• IInancl statom•
Harponden Mdhc¥Jist Church is a church within the Connèxloft in Great Britain and these
accounts afe rep8red in xo)rtsnc8 tplith the constilutiw. prncttce and dIaplIne of that Church.
They are 8lw prepared in accwdance with the Charitiès SORP IFRS 102) 'knountiro and RewrtiThJ
by Chariis.' Ststement of Recrynmended Pr•kn apF*aW8 to charities preparing their accounts in
ordance wth thg Finanaal Reryffiiig Stand¥d apphcabie in the UK and the Republk of Ireknd
(FRS 1021 (effective 1st JwÈuary 2019).. Finawal ReFrtIng Starthrd 102 ' The Financial Reporting
Standard applicable wi Ihe UK and Republ Irelanrf and the Charthes Act 2011. Thg finan¢ki1
stsl8ments he been prepared under the his11 ts)st c
Ha endgn Meth Notes to th Fin r the Year Ended 31 Au )ents- continued Ust 2024 ACCOUNTING POUCIES- ntinUed Tangibh fix•d a$ts- continu•d Durirvj the year. the Circtht agreed to Iransfer. for no con5id8rabon. the local managing trusteeship of the freehold propety al 130 SoutrKtv•m Road to High Street wrth effect from 31 sl August 2024. As with the existing High Street premffjes. the Twstees for Methodist Church Purposes are custodkgn trustee for the church land and premises arKI IW hobj the freehold title. These premises (the H811s1 8re sub4ivided into al the SLyennarkel $Y1$e$ occupied by the Co-op under 8 9year •se from June 1980 and bl the upper part5 to Harpendw Trust under a 99Wyear lease from December 2022. The suFemarkel lease ¢urrentty commands an annual rent of £37,500 per annum {next review Jun8 20251 but the Harpenden Trust lease is at a peppereom renL The rental COMe from these le88es wil Ilow to Street with eff8cifrom 1st Septwnber 2024. In view of the length of the Harpenden Trust lease and the lac of any rentsl stream, it is not COndered that this property has any ojrrent Cata val. However. the Cowop lease still has 55 years lo wn and an infom1 valuation reeeNed suggests that, at an investment yEld of 5% based on current rental value of £40.¢J)O per annum, this propety has a currenl capitsl value d £800,000 and, as the property is owned by TNstees for IAethodbSt Church Purposes as custcJian trust and High Street has no capabihty to lurn this into income, the freehold property has been treated as Endchved and witlalised at the above-ment)ned valu& The recew of ihis freehohJ propety interest at £81J).OCrf) has been treated as a donati. The deweciats'on pc4icy for Church Premi8es 1$ 2% per nM on eost. A8 the deprecation calculat•3n Is based on costfvalu8t less residual v&lJe arml &3 the WKlual value is Trot expected to fall bel( st, the depreCl)n tharge is £niL Other fixed assets.. Fo1[ing the e¢nWetion of the heatrig systwn wqect dur•)g 2014r2015, the ewpmenl elent ha$ been captslised depreciated over 30 yeats on a Strat4n9 basis. Computsr PAIAV equiwent awe (prec•Rted at 20% per annum on cl Twstees have ad¢wted a re4rysed pow for as camalisakn with effect fr(xn 1st September 2012. 118ms of frxed camal eypendilure above £3.000 are eaixla5ed and depcIated at an apprcyriate rats. Taxation The Church's 8Lwpluses are dori¥1 fr(xn, we aPpld ttrwards. MaIntenCe of charitable activilies and as such are not subject to taxalv)n. Fund a¢U19 Details of the nature and pur[Se of each fund ts set oul n noto 16. L•gades Legacies are credited on rwt to the rele¥ant fvnd as iThYKated by the wishes of Ihe 18slator. DONATIONS AIKI LEGACIES 31.8.24 Total fund• 31.8.23 Total fund$ fur$ PlethJed collections Gifts donations Income lax refunds Unpledged colleclions Sundry income 191215 84.369 46.995 21.415 192.215 898,401 47,$48 21.416 201,657 23,298 48.480 12.449 130 14.032 800,(th) 14 800.000 Py21
ncial Ended 3 - contin 2024 OTHER TrADING ACTMnes 31.&24 31.8.23 furnls fund$ Contributions for uge of premises Ground rent Dwenport 74092 74,892 61.240 19,203 21.1rJ 19,203 19.203 21.017 Coffee kninge 101,460 INVESTMENT INCOME 31.8.24 31.8.23 Total funds nds Intest invesbmnt in¢omè 31.686 3A11 35.196 CHARrrA8LE ACTMTIES COSTS Sukwrt Costs (see c#815¢e nots6 )te 71 Tota Charitkn 11¥118 157 58 401 417 759 DIRECT COSTS OF CHARITABLE ACTivmES 31A24 31.8.23 inithii81 l Admini4rve staff costs Encountering God costs Equipping God's Peorle costs Extending God's nj0M costs YoLrth Work costs Loss on sa18 of assets 169,357 4017 (31 161.694 3.433 1.043 30.342 2.684
nden Metl¥)di Notes to the Fina for Ihe Year Ended 31 Au ust 2024 SUPPORT COSTS Commsl O&wati Finwce Meting Tolab5 Ch8ritable acti4tyth?s TRUSTEES. RVAUNERATION Al BENEFITS There were no trustees. remuneration paKI trte yew 31 Awst 2024 nor for the year ended 31 August 2023. Th w¥e no trustee5' expenses pavj fLY thg year endwj 31 August 2024 for Ihe year ended 31 August 2023. STAFF COSTS 31.8.24 31.8.23 Wages and salarios Empknyefs pensim contrFbulions Emptyerfs Slar $e¢Lwity ¢osts 114,342 6,024 77,128 3.893 4.848 Total staff costs 85.869 th effect from 1 SeFtsnber 2015, qualfyiw plOyeeS 'OPted4nlo' the governmenvs autftrenrolment pension scheme with matched contril)ution$ from the Church to a maxHnum of 6%. Other than as shown below arnl in Note 17. none of the trusteey nor persorts cnnr)8cled with them received any remunerion, eXnSeS or ottier benefits from the Church. The contracts of employment for the three trustees detailed bekm wwe enknd into by the thurch Vrith Ihe due authority of Church CowKil Lewi8 Cox. the thurch's Ctsofdinalor EncounlerW GCKI and knmunicatKns, is land was at 1 Septemt¢r 20231 a trustee. He received rerwneration of £37.Crf)1 in 2023f2024 under his employment contract {2022r2023. £35,335). fvthitsonally. the chur¢h pahj £2.220 of emptyer pension contribu11c8 in 202312Lf24 under Ihis conlract {2022f2023: £2.120). Louise SchlKh, the churth's Office Administr8trK ts land was at 1 Septernr 2023), a ttustee and her services were rrtovthd to date under a contrael of enW¢>yrnent wilh the church. In 2023r2024. she recwved remurwation of £12,612 Lmder her wnF4oyment contract1202212023'. £12.3981. Additionolty. the churth paid £631 of erner penwn ¢trEIl08 in 202Y2024 urthr this contract (202212023: £620). Sally Hammond 1$ (and was at 1 Septwnter 223). a Irustee KI Iw servKe$ yovthd to date under a contract of employment with the thurch. In 2023r2024. she received remuneratr'on of £7.681 under her employment contract (2022r2023.. £6.813}. A&JitionaMy, the church pabj £457 of wnployer pension conlribulion5 in 2023r2024 under this ¢ontract1202212023'. £405). The average monthty numbw ofwmpbye8s during Ih8 yearwas as fo#trwB 31.824 31.8.23 No employees weived emoluments #i excess Of£60.10. Page 23
ncial State 31A 2024 10. COMPARATIVES FOR THE STATEIIENT OF FIIANCIAL ACTMTIES UnrestrLtsJ Restrictss EndryaTment fvnds Totsl funds INCOIAE AND ENDOWThIEPUS FROM 273.7 12.314 286.014 Other traliry actNitsS Investment income 101.460 101,4eo) Totsl 15.531 408,140 EXPENDrruRE ON Charltsbl• activit1•8 337.899 416 014 NET INCOMEI(EXPENDITLIIE> Tran810rn b6tw•en funds 54.710 (62.584) (7,8741 N•t mov¢mwrt In fund# 92.774 (1(1.648} (7.874) RECONCILIATION OF FUNDS Total funds brought f(xw¥d 604.198 310.844 .716 1.879.758 TOTAL FUNDS CARRIED FORWARD 210.196 964.716 1871884 11. TANGIBLE FIXED ASSErs Ffeehokl Fix1ures Computer Ld a)d and aThJ PhJAV Builthws Equipment Totals COST At 1 September 2023 Addlbons 964.716 70.807 154.039 1.189,562 At 31 August 2024 1993210 DEPRECIATION At 1 September 2023 Charge for ytsr X340 51.494 7&734 16.315 At 31 August 2024 NEf 8OOK VALUE At 31 August 2024 1.898.161 At 31 August 2023 1 110828 Under the wovi*¢m of FRS 102, the Ctudb Promws o) ebther b8 Statad at a valu8 based on a formal valuation or revert io ¢aprtalised historic cost. In view of the difficuKy and expense wi ¢)btsining suth a fomwl valuation, th8 Chwth Prwnises have been stated 81 witali8ed hIstu cost of £W,716. Page 24
nden Me le the Finan the Year 11. TANG18LE FIXED ASSETS- ntInu•d As mentioned in the Trustees knnual Report {t&V). the free1K premises at 130 SrAJththxn Road, H8nden. have been transferrad lo High Street 7hryth effect from 31st August 2024. The current rent under a lease lo the Cp (55 yeats left to run). set at June 2020. of the supeThnarket element of the property £37.500 but mathet rent is at £40.¢yxi based in the evidence provthd for the 18St revivx but wlaled to 2024 lemis. At an investment yield of 5% seemed appropriate for the propety a capital value of £8,c?0 is derived this has been Jopted above. The upw parts are let to the Harpenden Trusts on a 999 lease Decemiw 2022 at a pepperrxxn rent and no caWI value is assumed for this element. 12. DEBTORS: AMOU1s FALLV4G DUE WH1N ONE YEAR 31.8.24 31.8.23 C>ther debtors Prepayments 27.618 49,903 22,775 43,663 T121 66,438 13. CASH AT 8ANK funds fund funds Tmstee for Methcdist Purposes accounts Oermxits with Central Finance &)ard Other bank accrAnts 172.982 443.323 129.689 1.573 174,555 511.669 129.689 745.994 69,919 815,913 14. CREDITORS: AMouKfs FALLI4G DUE YEAR 31.&24 31.8.23 Trade creditc Social security and other taxes other uedilors ACC1$ and d*red 309 1196 1,061 13,861 163 2,898 12.925 15,986 Page 25
n Melho Notes to ncial S e Year Ended 31 Au st 202 - contin 15. MOVEMENT IN FUNDS TsIerS At 1.923 funds funds 31.8.24 Unrostrlthd fund# Genera fund DeswJnated frJnd- Property Fund Designated fvnd- Missxin Development 30,904 Desi3nated fund- Youth V40 149.772 28,831 130.34n 17 14 Designated fund. Organ Repair Fund 81 2 000 743 215,565 47367 IS.929 39.128 11221 16,869 243.70S 103,264 297.301 148.256 696,9n 112.378 810,093 R•strlctod funds Healing Prcie¢t Youth Work Legacies AV Project BenevolencelSHARE 71.539 14.490 1A96 120.043 {12C%) 751 1300 (15.OS6) 72,693 185 1,573 121A32 {10,$64) 11,953 210.196 {10,094> 1743} 199,369 EndoTnènt fund• Church Premises 964.716 1.764.716 TOTAL FUNDS 71 2 774 168 Net movwnent in funds. inclwled Mi the St are a5 folkvrn." Irwning R8source8 Movement swrces typended in funds Unmtrlctgd lund8 General fijnd Designated fund. Properly Fund L)esvJnated fund- Miss¥)n Developrnt Deslqnated fund- YoLth Wck Designated fund- (*gan Repair 388,881 62.392 {372.952 {13264) 1S.929 39,128 30,90J 28,831 30,904 28,831 (389,569) 112.378 Spla7 CdleclKJns Healiry PIe¢l Youth INork Legacies AV Prgect Benevolenc8lSHARE 8.009 1.152 753 18,009} 12,358 (2) {1.206 751 77 {10.564) (11.952) 1&1)96 128.190) 110,094 Endowment fund• Church Prernises 0.0 800.000 TOTAL FUNDS 902.284 P4e 26
Ha nden M 1st Church Notes for the Year Ended 31 Au ust 2 15. MoveMENT FUNDS- conllnued Comparatlv•6 for mov•m•nt in funds Transfers 11.922 vi f)d& funds 31.8.23 Unr••trthd funds General fund DesKJnaled fvrKI- Prq)erty Fund Designated fvr¥J- Mission Development Designated fvnd- YoLth lfybrk DeSnated ffiJnd- Organ Repair Fund DesNJnalad fund- Video Protknlion 208,295 52.161 62,919 121,762) 155.6611 16,869 215,553 47.268 172.549 144.5 15.881 10.407 9,259 4.867 1900) 327 84.590 266,398 149.772 17.981 10734) 604.198 54,710 Re8tri¢t•d funds Heating Pro1t y(th Work Lega¢ie$ Development Project CostAllevialic AV Project 8enevolen¢elSHARE 70.879 15.544 1.454 54.326 (1.699} 2.360 (1.521) 71.540 14,488 1.496 42 {54.1061 1,S42 (11,4571 2.629 {220} 150,636) 11.953 119.547 120.043 310.844 162.584) 138.W) 210.196 Church Premises W.716 ,716 TOTAL FUNDS 1.879,758 7 874) 1.871.884 Page 27
Ha eFin 16. MOVEIIEiif IN FUNDS- contlnu•d Incoming Resc4Jrces Movement in funds Unro8lrlct•d lufid General fund Designated fuThY. Fund Designated lurMI- Mission Devdopment L)esignated fund- Youth Designated fund- Organ Repair Fund Destgnated fund- lfideo Production 375.795 1.807 (312.876) (23.5691 82.919 {21.7621 9.259 4.867 9.2S9 4,867 {900) 327 {1.4541 327 392.609 1337.899) $4,710 Ro8trlcl•d funds SpgcBI Coll8¢tKins Heating Project 5.220 (S.220} (2.3601 {1,699> 465 42 (54.106) 1.542 (11.457) 2,629 Legacies Develorffienl Project Cost AJleviati( AV Pre¢t BenevorSHARE 42 154,114) 1.542 (11.9S3) 4.4681 7.097 15,531 78.115 TOTAL FUNDS 408. 140 416 014) L874) Restrlcted fuTrd5.' Legacie8 Fund.. Unless a Tntsl has been Sured to allcw for local use, l¢ga¢ies re1Ved a deposited wf(h the Trte8$ for MethIst Church Purposes (TMCPI. All applications for the release of such monies r81 be made to. and apprcwj Iw, TMCP. As a131 August 2024, the balan available we 8$ foll £1.$72 for use in relalion to the provision of church fhyHers (Fu1 No. 19706). End(Mment fund5". Under the provisions of FRS 101 freehokl clthe cTCh Fjrwriws Ixn ebther be statsd at 8 value basèl on a formal valuation or revert to capitalised histor cijst. In VI d the drfkutty and expense in obtsining SLtch o formal valuath"on. tr Church Prwnises have been stated at capitalised historlc cost of £W.716. The freelK)kJ Premises at Southd¢ywn Road have be8n valued (see Note 10 above) at a valuv)n bas M IThstrnefftt yieh5 at £8QO.O(M). Totsl EndrJ•Md funds therefi>r8 iotal £1.764.716. 16. CAPITAL COPAMITMEKrs Th¥e are no lia)ilities. ccffttrnI CY ¢JthWW. that e nol WOVKled fty in these aCCnts. 17. RELATED PARTY DISCLOSURES Davwj Nobl8. a thurch ffber. retiraj as a on 26th March 2023 It receNed. in 2022r2023. an honorarwjm for services provided to the churth as a self-wnpbyed contractor in pWIj from 1$1 Septsmber 2022 to 26th March 2023 of£1.015 in respect of these serv. The thurch received 4gregth t11 fr truses of £41.325 in 2023r2024 {202zf2023.' £46.344). Page 28