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 Fina￿la1 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 aJop*ed the provis*)ns of Accounting and Reporting by Chaiitie& Statement of Recommended Pract￿ a￿leable 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 eX￿ded the £0.5m threshokl and ha¥ thereth to be treated as a 'large' charity under the provisions of the ch￿tieS 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 simil*ly require the church to be deemed a large charity. Trustees belteve that the causes of thi$ inws& in annual tumover are primarty on￿ff 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 addle￿n9 the increased thsc105ure requirements foT t￿￿tee5 to consider. also reflect this k9ck of any materia change to the thurch's Operalw￿al CircUn￿nce& As required ty the Statement of R￿nr￿K1￿l 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. relatK*nships arKi communiiies in this world transtom)ed ty the h)ve of God in Jesus Chrtst. OUR STRATEGY Sh￿1￿ 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 di￿lpI1ned in prayer and Bibl8 readin91 2. Otherantred Care Iwhith is I￿+fUelled, pgrs0n-tweTsc￿ and attentive) 3. Non-iudgemental Welcome l*hieh ts open. Pwrtable and genuine) 4. A￿MbraCIng Unity (which is uncon(*tionaty4oviTh3, mutualy¥¢ who attend with infcrfrna￿n a￿1 ideas. these ev&*s have raMI fundsfor nominated Charit￿5. 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 C￿aty charitable both in ils wttentiw and prathe provides substantiab PU￿1¢ b8neft to the I(￿1 comn￿lty ￿ WKkr w(th. The church does not make dyect grdnts to third p*W but provKles support to the corrmunty in m￿Y far4eaching in*i8tiNYs. The ¢hurch does not I￿ur any dwect expenditure on ￿51￿9 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 CHAR￿ABLE ACTMTIES Wor¥hip Every week we have o)ntinued to lTrMstroam our Iwo (tiffwent styles of ￿ndaY morniNJ worship and to operate a 'hyt￿l￿. 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* des19r￿ wih leaming difficulties) continue to be well surported. InclU￿v• Church Our MinBlry Team has ¢onts'nued actNety to seek conversatboll5 wth those whose experience of ¢hur¢h s b8&n one of exC￿s1On, and the findwy frixn these have hel￿d shape scrfno of our worship and eaching. This r￿8119 a work in Fyowess is t&%en into our next exeujtive p￿n uThJer the heading of "Justic8, Dignity aThJ Solidaty. Pa¥loral Carg Our Pastoral Secretsry, M4gia GrafKI, I￿$ continued to (r4eYsee the of our Pastoral Tthgm, which continueg to consist d herself. Fr￿ Gardner. Deacon Sarah Wckell and Rev Mark H￿rn0ftd. They have continued to meet monthty to ensure that Ihose Thb)st in need of pastoral recwve appropriate bvels of c￿t￿l. This has been especialty inwortant as we have w wKreasingly ageing demograph￿ and many to Ca￿ for. The members of Batford Melhcrflist Church and south￿ Melt4)di8t Chwch have continued to receNe pastoral care through High Streevs pastoral system. The care for the SouthdoMryt members has been especially impDrtanl over this ye¥ b￿aUse it has indLvJed the closure d they church. Supp)rt has befrn ven as th08e members have tr*￿fe￿ to other bxal chwches. the mwity firKling a home wth Hwjh Streel. Our Pastoral Team led our annual bèr&wement on &Thlay 5th November 2023. LoTr9gr ObJ•¢tlvo8 At its meetirvJ in Juty 2024, chU￿h CourKil apwoved the frAI(y•rng two pkns for ￿n￿eMentatIon in 202412025 to pro￿de mis￿1￿ benefit for the new and subsewenl yeats. Trustees will receive wogress rwts thring 2024r2025 to ensure n)awnin is derived. These plans *e the cornerst(￿e for the church's rnediwTrterm deVelOp￿nt and will continue to shape Executive Plans going fward. Tru5tee5 wffl ensure rewlw reviews of these iniiatNes {and the Executive Plans as a whole) take account of charying clrcwlst￿ develop reactive a4'ustments to ensur& tinuity of delivery of the crKe c4)1e¢tp￿3. n l¥lethodi forthey ACHIEVEMENT AND PERFORMANCE qconthiu• hll8•lon Actlon plan(202￿02s) In order lo establish our fLrture prKXit*s. we have folk>wed the process set out in the Methodtst Church'8 "Our Church's Future Story¢. gUKIanr￿ p￿k and develOp￿d a Mission Plan for the Iwelve months $tartiNJ 1 Septgmber 2024. Our oJrrent clwrch and inibalives were reviewed. a communty audil carried ojt. and the fiNlings from these were sharod with our Ger)eral Church Meeting al our.8￿ Day In. on 16 March 2￿24. Tha resuttin9 MisSic￿ Action Plan (2024f2025) wa5 wed by Chw¢h Council in Ju 2024. Shapod lor Ml88lon Bulldlng Prnloct Prior to the onset of tho COVKI pande￿￿. PrOj￿t Te*n had be￿ close to fmglising proposals for a subslanlkgl buildiThJ scheme. desiwed to make ¢)ur more fft for our ¢￿t future missw a¢iivitss. In the Church's ExecutN8 Plan. the Projed Tea)) had been ts5ked with revithling the prcposed scheme to ascertain elements of the larger scheme may be wtsible lo progress. In JaNary 2024, the Proj&t bxesented pr¢)pos* to Ihe Church Council a rel#￿￿d prcqect- invofving the reorfering af the church nave aTrJ transepts. A ¢m$ubt￿ of the ¢P￿Tch mwT*ers 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 cor*ents pr£￿ (Circuit Distr￿1 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 ￿. de8v￿d to deliver maximum missK)n benefit and fotsjses on vnplementrg phase 2 (d￿lts) and 3 {￿hting and blinds) of the orignal project t￿er ￿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 inC￿ded to result in overall (wital expenditure of É226.996. Because Churth COU￿11 is also keen to ensure that the main church space. after undert*ing 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 re￿a¢ement da￿ steps {£6,000}. The (werall ¢ost to be fwded und8r thg propjsal is thereforn £276,651 and wt SUFp￿t of £71,328 has en conffirrr*d by Ihg Circuit and £58.659 by the Distri¢a. In bolh case4 the wqecl has sati$ftd the grant As historic funds a￿ fully committed to other projects, Fthlarty Youth it is not Nitended to drthv Fundraising ￿rnMen￿d on 2* September the ful tr)tal ￿ be fvnded ty the men*>gr¥hip has nc¢AY been rai8ed and the wciect rs thereth fuly bJnded. AS al the approva15 for the project h￿e not yel been receNed no contrxts have been agreed v￿h tentid suppliers, it is not to tre* this prospect exp8ndilwe as either a Post Balance Sheet Event or a Capilal Comrrithent in the Notes to Ihe pL(￿nts {beltr*). Bulldlng Malnt•nan Our maintenance team hwe conlinued to *tffk hard to our buildings li exce118nt con(lition and dgcoratiw. DuriTrJ the period coveted by thi5 rewt tlms ha5 irthed deal￿g wlh Wing roots and the redecoration of our LX Yothh Contre. Th• Mlnisty Team Our Ministry Team consist of ordained slaff. Math H•nmond and De￿On Sarah Wekeli plus one lay mèmb8r. Le￿ Cox (Communintsons and V*)fship C(hxdi78tor). Thi5 tean continu88 to meet regu￿ty to plan our Sem￿ series worship to 8nswe we make fvl use of the and of our membership. Sadfy, Deacon Sarth was unable to ￿ t*Lause of health issues. bul we are delighted that she has now started her phased return to fult tKne rninistry. Pag04 nden Meth Re rtoftheTnJ for the Year En Au ust 2024 ACHIEVEMENT AND PERF014MANCE (wrtthued) Support Staff Our staff team - made w of emK4tyees ￿u$ a numbw of ￿t￿allY 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 $upp)rts and 1$ SUp￿rted by. a vast team of vc4unteers, who are ertgaged in all xlmties across th& church. Rttruitment of Vol￿teerS contiiues to be an iw)rtant part of the process, and we are C￿1￿7UallY 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￿$r. Ruth Lindr￿ge, who commenced Twryk with us from Sunday 1st Octoter 2023. The enthusiasm and car8 that Ruth ngs to this imFwlant role is ff￿d) app￿lated as we conlinue to build back our yout1￿WOrk followirvJ a number of yearn withtyjt a paid youth worker. Ruth is t￿Ikling strong re1alK￿sh1PS with the youThJ people. parents ¢hur¢h members. A small but very c41￿￿n￿led group of volunteern WO￿ with Ruth on the youth team, it remains a mity to w this team and devek4> the youth prOgr￿me. Chlldr•n's Church Children's Church contr'nues lo at exh &Jnday ftv)mvvJ f48P4rn The Child￿n,$ 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 j￿e. Parents were also inviied for coffee be￿n 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 commUn￿n- Our Home CommunA)n Team have continued to offer extended Coffmunion to th08e of our Chur¢h Ccrfnnwnty who ¥e housetknjnd. Building B￿$ - Bu￿1r￿ B1￿kS has Conti￿ and is stl very f*¥wlar for Pa￿nts 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 - t￿rry this we have run regular Ajpha and Bible cours8S to s¥Jpport the spiritual gmwth of all o)mers. aThJ we have continued to e￿AUrage WKI sum our many ¢hurth home groLPS. FINANCIAL REVIEW Flnanclal po8lllon The f￿anCIal results forthe yw are 8PKy*m 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 bar*ers and holds rn tscial investments. A￿dingty. it does not require an inves11￿1 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* $hort-term deftits currenlly tem9 experience nden Chu Tru5 31 FINANCE REview (contlnu•d) The church prepar88 annual buthJets a tr￿er term (5 yew) fm*Kaal so that it ￿ be fvwK4aly comfortaLle going foNrnrd. T￿￿*8$ we w•4are that these do shuw 8 dèpleti￿ of aval￿ble 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 i￿1￿leS the ￿e-Off tr*sfer at no cost of the freehokl intere81 in the C￿p supemiathei at 130 s￿l?￿J- Balance at 31 August 2024: £185 Audio Visual Fund (RestrKted)- Balance at 31 A￿st 2024: £121,432 Specia cou￿tiOnS IReslrKted)- Balance at 31 August 2024.. £0 Benevc4erK* Fund IRestri¢*ed)- Balance at 31 A￿gl￿1 2024.. £3.476 Legw Fund for Fknvers (Restricled)- Balance at 31 August 2024.. £1.573 Heating Prgect FurKI {ReStr￿￿ed>- Balance 31st AwJu$t 2024: £72,693 Chwch Premises (Pem7anent En{ky￿￿ - Bala￿ 31st knJust 2024: £1,764.716 - ￿ only b• realised by selling tang*>le fixed assets Total Funds- £2.774.168 Church Re for the Ye nded 31 A st 2024 FINANce ReviEW (contknu•d l. G•noral Fund In the Genera FLtnd, overg1 inc￿8 rose ty £13,086 cffi Ihe back of ￿ £18.000 increase in rentsl income. Barclays signed a on&year lease £10.OCK) and revenue from Herts County Council f¢)se by £2.690 fdlowing the renelval of ther annual agreement in December 2023. Income from wing including Gift Aid sl¥)ped by £1.W1. There were again no legrn. *' dOnats￿ held steady at £21.1n. Expenditure in the Gwwal Fund totaled £390,583. some £77.707 Iwjher than the previous year, due primarily to the ￿l¥al of our Lead y￿rth IAtrfker in (ktobaf 21723: ytyjth expermlilures rose to a more normal £46,44412022r23.' £2,684). Required Iransfors to tq> up the Organ, Methum Twm Propety. Heating AudirpV¢sual Funds totalling £33,182 were made. leaw'ng a reojrrent Oper8tUl9 Deftit li the General Fund of £34,884. The Youth Funds were drawn down by £45.403 b fund th8 youth expend*ures. offsettwig the def￿lL We also beneffted from a Circuit Util￿e$ grant of £17.631 12022r2023.. £973). introduced after the slwp in¢rease in electricty costs that folkywed the Ukra￿e *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 vernww doc￿￿[ a de•J of Intst JKI ¢ortstitules an unirttirpor*d 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 H￿b Street, HarpeNJen. Herts. ALS 2RU. Its constituticffi is gfftm8d ty an *d of P*lkqmert ￿. 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 thrO￿h them to the Beds. E￿X and H&rts M9thc4Jist District These umbrella organisati¢)ns exercise a degree (rf contrd over th8 thurch's operation through the Connex1￿01 rule t¥)ok. C¢)nstitutional Pr￿lice 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 ravi￿ed at eath Leadershy Team meeting {monlhly) Prog￿85 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 Operati￿al decisions are ddegated ty the Le*rslw) Tèan to emr*ed staff andlor volLmteers New trustees are invited lo Wicipate in twstee in(kKl*)n and trainry on appointment. Pol￿195 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 rel*iry to finarKial Matte￿ Sh￿k1 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 Gen￿al Church Meeting and Church Council as and when VaCanc￿S arise. The Rev ma￿ Hammond. Preswial Minister. is the Chair of Ihe Church Coul￿11 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 reas￿able assur￿ fraud and error. The trustees. advised ty the Finance arKI ProF*fty Committees. regulaty ex￿1￿ 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 aFvrn scheme but makes contsibutton5 {d8fined in emrA¢)yment contracts), under autwryolnwt to the 9￿ernment SF4xw>red NEST pension Schem8. The cMrch therefore has no k￿991 temi pensw)n Ik*ilities. nded 31 A REFERENCE AND ADMWISTRATIVE DEfAILS R•gi8t•r•d ¢harlty number 1128950 Prlnclpal ￿dr￿S Harpend•n Methodist Chur High Street Hary>6nden ALS 2RU Tru8t••8 - prlnclpal offkorn Rev M Hammond Mirrfster Deacon S WK*ett 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 Ham￿￿￿K1 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• y￿r 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 (resi￿ed 12101r2023) J Prenttce F Gard￿r (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 St￿1 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 Tr￿tee9 and the fIn￿CHI statements in cordance wrth applicable l&v and United lfjngdryn ACc￿nI1￿j stand￿th ILknited Kingdryn Genèralty Accepted Accounting PraciKe}. The law applicablg b ch*ilieB in Ensland and Wths. th8 Chaiti8s Act 2011, Charity (Accounts and Rgports} R￿UlationS 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 Ir￿orning ￿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 I￿gements and eslvnates that are reasonable and state whether applirable accounting standard$ have been fcthywed. s￿leCt trJ w rnaterial departures disclosga and explained in the fThncial slatements: prepare the ffftarKia statements ￿ the goirg c Regulalmins 2008 the provisions of the trust d88d. They are also responsible for safeguarding the assets d the charrty and hence W(irYJ reasonabla steps for the prevention detecliw offraud and other Irreg￿r[lie5. Approved by wd8r of the board oftsustees ¢)n .. ..... nd sign8d ¢Jn its behalf by: Rav M HamryvJThJ- Tfu8t06 P4e 12 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 fina￿la1 reporting framw4¥0rf( that has been appled in their rKeparati¢)n is applicable law aThJ United lQThJdom AccI￿ntIng 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 Aug￿1 2024 and d its irtoming resources and appbcat*)n of resource& the year then ended.. have been w￿rIY preptred in axordance with Unrt•J Krydoffl Genwally P•d Accounting Practice.. and . have been prepared in accordance with the refwinnents d Ihe Charit*s kl 2011. Basls for oplnlon We corKlucted our a￿111 in ￿OrdanCe with InternatN￿ sta￿la￿d5 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 iNly￿j8nt of the Charty in accordance wth the ethKal requiremwts that are relevant to ow a￿lIt 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 wep**ion d the finaKial stateM￿ts 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 d￿bt 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[￿￿b￿￿S 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 financ￿1 stateM￿ts does not covar the ott*r 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 m*rial 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 f01h￿Ing 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 ￿COUnti1￿j records and returrr8,' or . we have not received all the wrf(ffiiat*)n and 8xplan*ions requw8 for a￿lIL PwJe 13 Re Audiiors to the Tn nden Me R￿ponSIbIlItIa* of Iw•tM• As explained mcKe fully in the Trust88s' ReSp￿S￿lI￿t*S Statemrt the Inrntses are re5ponsibl8 for the preparation of the fina￿181 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 $l*ments that arg free from material mwststemenl WI￿ (lu¢ tr4 fraud or errc*. In weparing the financial StateWen￿ the trustees we respon￿ for 8ssgssing the tharity$ abilty lo continue as a goiThJ Goncem. di8¢bsiNd. a8 8Fs¥hc8bl8. mottars related to go￿9 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 IMpon￿bIltt109 for th• audtt of tho flnanclal •tatw We havè been appo*ited as auditors u￿ler 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 mis8tateff￿rt whether due b fraud or error. and to issue a Rewrt CA the Independent Audrtors that includes our OFinK)n. Rea$￿th assurance 15 a high level of assurarKe bul 15 not a guarantée thal an audit ￿ndUcted in ￿CC*d￿¢9 with ISN4 IUIQ wdl detect a material misst*emenl when it exists. Misstatermnts can arise from fraKI or error aThJ we consitsred fnaterial rf. y￿￿Ually or in the aggregate. they cOu￿j reasonabty be to infiuenee the ￿n0m￿ ¢Y9￿10n$ of users laken on the basis of Ihese fin￿¢181 statements. The exlenl to which ow pmcethres are cap*48 d d*twwJ Wregtsilies. wKludrig fraud ig detaded b8kiw.' Irre￿l*ll1es. indudiry fra￿J. ore of nOTre￿Ik?1￿8 *ilh l**s and regulat¥M. deswjn Pfocedures in line with our responsibilities. oullined above, to detect material misstatements in rnsp8ct of 1rr8gu1arit￿s. 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•cOmpli￿Ce wilh laws and regulations relatffig to the tim￿ed ￿MP￿ry. Vve also considered those laws and regulalions that have a clrect impact on the yepwakn of thè financial statemerrts. We Gommunicated identified laws ragUla￿nS throughout our team and rema￿led alert to KK1￿at￿rk% of nonnp Accountants and statutory Auditor Vaughan Chambers Vaughan R¢￿d Ha￿enden AL5 4EE Dale. . P•3e 15 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{EXPEND￿UREj Tran8f¢rn ts•t￿l￿ 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 ￿tr￿leS 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 c￿h •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) AdJu81M￿ts tor. Depreciation charges Loss on disFK￿l 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• IInanc￿l statom• Harponden Mdhc¥Jist Church is a church within the Connèxloft in Great Britain and these accounts afe r*ep8red in xo)rtsnc8 tplith the constilutiw. prncttce and dI￿aplIne of that Church. They are 8lw prepared in accwdance with the Charitiès SORP IFRS 102) 'knountiro and RewrtiThJ by Charii*s.' 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 ReF￿rtIng Starthrd 102 ' The Financial Reporting Standard applicable wi Ihe UK and Republ￿ ￿ Irelanrf and the Charthes Act 2011. Thg finan¢ki1 stsl8ments h￿e been prepared under the his1￿1 ts)st crnm1S￿ w eits be stated at a value basgd on a lomHI valuatton or at capilalised hist¥ic cosL In view of the dir￿lty and expensa in ¢)btainiNJ such a fomial Val￿11)n. the C￿r¢h Premises have be￿ stated at c4pitalisad historic cost of £964.716. Thi8 sixilarty appks to the Church Organ whth ha8 a historic Cost d £n Page 20 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 $Y￿1$e$ occupied by the Co-op under 8 9￿year ￿•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 COn￿dered that this property has any ojrrent Ca￿ta val￿. However. the Cowop lease still has 55 years lo wn and an infom￿1 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 custc*Jian 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 ￿n￿M 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 depreC￿l￿)n tharge is £niL Other fixed assets.. Fo1[￿ing the e¢nWetion of the heatrig systwn wqect dur•)g 2014r2015, the ewpmenl el￿ent ha$ been captslised depreciated over 30 yeats on a Stra￿t4n9 basis. Computsr PAIAV equiwent awe (*prec•Rted at 20% per annum on c￿l 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 dep￿cIated at an apprcyriate rats. Taxation The Church's 8Lwpluses are dori¥￿1 fr(xn, ￿ we aPpl￿d ttrwards. MaInten￿Ce of charitable activilies and as such are not subject to taxalv)n. Fund a¢￿U￿1￿9 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 Inte￿st invesbmnt in¢omè 31.686 3A11 35.196 CHARrrA8LE ACTMTIES COSTS Sukwrt Costs (see c#￿815¢e nots6 )te 71 Tota Charit*kn ￿11¥11￿8 157 58 ￿401 417 759 DIRECT COSTS OF CHARITABLE ACTivmES 31A24 31.8.23 inithii81 l Admini4r*ve staff costs Encountering God costs Equipping God's Peorle costs Extending God's ￿n￿j0M 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￿* Finw*ce M*eting 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 S￿lar $e¢Lwity ¢osts 114,342 6,024 77,128 3.893 4.848 Total staff costs 85.869 th effect from 1 SeFtsnber 2015, qualfyiw ￿plOyeeS 'OPted4nlo' the governmenvs autftrenrolment pension scheme with matched contril)ution$ 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 remuner*ion, eX￿nSeS 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 knmunicatK*ns, 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 contribu11c￿8 in 202312Lf24 under Ihis conlract {2022f2023: £2.120). Louise SchlKh, the churth's Office Administr8trK ts land was at 1 Septern￿r 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 ern￿er penwn ¢￿trE￿Il0￿8 in 202Y2024 urthr this contract (202212023: £620). Sally Hammond 1$ (and was at 1 Septwnter 2￿23). 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£60.1￿0. 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 L￿d 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, H8￿nden. have been transferrad lo High Street 7hryth effect from 31st August 2024. The current rent under a lease lo the C￿p (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: AMOU1￿s FALLV4G DUE W￿H1N ONE YEAR 31.8.24 31.8.23 C>ther debtors Prepayments 27.618 49,903 22,775 43,663 T1￿21 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 ACC￿￿1$ 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 T￿sIerS 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,$64) 11,953 210.196 {10,094> 1743} 199,369 Endo*Tnènt fund• Church Premises 964.716 1.764.716 TOTAL FUNDS 71 2 774 168 Net movwnent in funds. inclwled Mi the St￿ are a5 folkvrn." Irwning R8source8 Movement swrces typended in funds Unmtrlctgd lund8 General fijnd Designated fund. Properly Fund L)esvJnated fund- Miss¥)n Developrnt Deslqnated fund- YoLth Wc*k Designated fund- (*gan Repair 388,881 62.392 {372.952 {13264) 1S.929 39,128 30,90J 28,831 30,904 28,831 (389,569) 112.378 Sp￿la7 CdleclKJns Healiry P￿Ie¢l Youth INork Legacies AV Prgect Benevolenc8lSHARE 8.009 1.152 753 18,009} 12,358 (2) {1.206 751 77 {10.564) (11.952) 1&1)96 128.190) 110,094 Endowment fund• Church Prernises 0.￿0 800.000 TOTAL FUNDS 902.284 P4e 26 Ha nden M 1st Church Notes for the Year Ended 31 Au ust 2 15. MoveMENT FUNDS- conllnued Comparatlv•6 for mov•m•nt in funds Transfers 11.922 vi f￿)d& funds 31.8.23 Unr••trthd funds General fund DesKJnaled fvrKI- Prq)erty Fund Designated fvr¥J- Mission Development Designated fvnd- YoLth lfybrk DeS￿￿nated ffiJnd- Organ Repair Fund DesNJnalad fund- Video Protknlion 208,295 52.161 62,919 121,762) 155.6611 16,869 215,553 47.268 172.549 144.￿5 15.881 10.407 9,259 4.867 1900) 327 84.590 266,398 149.772 17.981 10734) 604.198 54,710 Re8tri¢t•d funds Heating Pro1￿t y(￿th Work Lega¢ie$ 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) $4,710 Ro8trlcl•d funds SpgcBI Coll8¢tKins Heating Project 5.220 (S.220} (2.3601 {1,699> 465 42 (54.106) 1.542 (11.457) 2,629 Legacies Develorffienl Project Cost AJleviati( AV Pr￿e¢t Benevo￿r￿￿SHARE 42 154,114) 1.542 (11.9S3) 4.4681 7.097 15,531 78.115 TOTAL FUNDS 408. 140 416 014) L874) Restrlcted fuTrd5.' Legacie8 Fund.. Unless a Tntsl has been S￿ured to allcw for local use, l¢ga¢ies r￿e1Ved a￿ deposited wf(h the Tr￿te8$ for Meth￿Ist Church Purposes (TMCPI. All applications for the release of such monies r￿81 be made to. and apprcwj Iw, TMCP. As a131 August 2024, the balan￿ available w￿e 8$ foll￿ £1.$72 for use in relalion to the provision of church fhyHers (Fu￿1 No. 19706). End(Mment fund5". Under the provisions of FRS 101 freehokl clthe c￿TCh 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 valu*v)n bas￿ M ITh￿strnefftt yieh*5 at £8QO.O(M). Totsl EndrJ•Md funds therefi>r8 iotal £1.764.716. 16. CAPITAL COPAMITMEKrs Th¥e are no lia)ilities. ccffttr￿nI CY ¢JthWW￿. that *e nol WOVKled fty in these aCC￿nts. 17. RELATED PARTY DISCLOSURES Davwj Nobl8. a thurch ff￿ber. retiraj as a on 26th March 2023 I￿t receNed. in 2022r2023. an honorarwjm for services provided to the churth as a self-wnpbyed contractor in pWI￿j from 1$1 Septsmber 2022 to 26th March 2023 of£1.015 in respect of these serv￿. The thurch received 4gregth t￿￿￿11￿ fr￿￿ trus*es of £41.325 in 2023r2024 {202zf2023.' £46.344). Page 28