REGISTERED CHARITY NUMBER: 1129256
Report of the Trustees and Financial Statements for the Year Ended 31 August 2021 for
Chapel Field Road Methodist Church Norwich
Chapel Field Road Methodist Church, Norwich
Contents
| page | |
|---|---|
| Report of the Trustees | 1 |
| Independent Examiners Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
1
Chapel Field Road Methodist Church, Norwich
Report of the Trustees for the year ended 31 August 2021
The Trustees present their annual report with the financial statements for the charity for the year ended 31 August 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1129256
Principal address
Chapel Field Road Norwich NR2 1SD
Trustees
In accordance with the Standing Orders of the Methodist Conference, which is the governing body of the Methodist Church, the trustees of the Church are the members of the Church Council. The names of the Trustees who served during 2020/2021 are as follows:
Revd Matthew Olanrewaju Christina Potter Akua Tetebo Pauline Mann Ruth Gaskin Roger Drake (left 31.08.21) Geoffrey Brown David Ingham Christopher Hopper (left 16.06.21) Roderick Moore Paul Binney Michael Garratt Daphne Buxton David Everitt (from 01.09.21) Pamela ParkerBrown Frances Middleton Colin Arnold (from 01.09.21) Zing Eagling Stephen Osborn Jacques Kalume (from 01.09.21) Margaret Snelling Martin Nisbett
The Church Council is elected by the members of the Church.
Independent Examiner
Mark Johnstone FCA Argents Chartered Accountants 15 Palace Street Norwich NR3 1RT
Advisers
Bankers Lloyds Bank plc 48 High Street Newmarket, Suffolk CB8 8LF
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a Deed of Union (1932) and The Methodist Church Act (1976). It constitutes an unincorporated charity.
The Church is a member of the Norwich Circuit of the Methodist Church.
2
Risk assessment
The premises are properly insured and Health and Safety reviews take place annually with Fire Evacuation Practices held from time to time. A risk register is maintained to safeguard the Church’s assets and future work and the Disclosure and Barring Service is consulted as appropriate. All trustees and others working with children, young people and vulnerable adults are required to attend a safeguarding foundation module training course. An asset register is maintained by the Treasurer.
OBJECTIVES AND ACTIVITIES
Objectives and aims
We are a large and diverse church set within the city centre of Norwich, England with attractive premises which are intended to speak of welcome and access for all.
Through our Ministry and Leadership Teams and through the many resources within our congregation we are always looking to be more effective in our witness for Christ within a city centre context.
Volunteers
The church is sincerely grateful to very many members who give freely of their time and talents to further its work and Christian witness.
ACHIEVEMENT AND PERFORMANCE
Due to the restrictions made necessary by the coronavirus pandemic the church had to close for worship and group meetings during much of the year. Weekly Christian services using an online interactive platform were well supported and valued by the congregation and online streaming of our services continued after the church reopened for worship in May 2021. Contact has been maintained with the church family in a variety of ways through our minister and our pastoral care network. Sadly the restrictions also meant that the many local community groups which normally meet on our premises could not do so, including the Syrian refugee families in the People from Abroad project who attended English language classes. These classes were able to resume in June 2021.
The trustees have complied with their duty to have due regard to the Charity Commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant.
FINANCIAL REVIEW
During this pandemic our congregation has continued to support the church financially through offertories and donations and their generosity has been greatly appreciated and vital in providing most of the income needed to pay all ongoing expenses.
Due to the closure of the church for group meetings for almost the whole of our financial year the income received from these groups was minimal. This reduction in income was partially offset by claims made on the Government Coronavirus Job Retention Scheme.
Three new legacies were received during the year which enabled the church to make up the shortfall in other income and enabled us to install a CCTV system to enhance the security of our premises.
Reserves Policy
Funds are held in accordance with the Church’s Reserves Policy and are believed to be adequate for the declared aims and objectives of the Church and the necessary maintenance of its Grade Two listed premises.
Approved by the Church Council on 23 February 2022 and signed on its behalf by:
P Mann – Trustee
3
Independent Examiner's Report to the Trustees of Chapel Field Road Methodist Church, Norwich
Independent examiner's report to the trustees of Chapel Field Road Methodist Church, Norwich
I report to the charity trustees on my examination of the accounts of Chapel Field Road Methodist Church, Norwich (the Trust) for the year ended August 2021.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mark Johnstone FCA
Argents Chartered Accountants 15 Palace Street NORWICH Norfolk NR3 1RT
Date: ............................................. 01 March 2022
4
Chapel Field Road Methodist Church
Statement of Financial Activities for the year ended 31 August 2021
| Notes INCOMING & ENDOWMENTS FROM Donations and tax recoverable 2 Legacies 2 Other trading activities 3 Investment Income 4 Charitable activities 5 Total incoming resources EXPENDITURE ON Charitable activities 6 Total resources expended NET INCOME/(EXPENDITURE) before transfers Gross transfers between funds 14 Net income/(expenditure) before other recognised gains and losses Net gains/losses on investments 10 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD CONTINUING OPERATIONS |
Unrestricted Funds £ 106,451 33,034 1,113 4,109 2,793 147,500 162,115 162,115 -14,615 3,672 -10,943 43,103 32,160 5,716,534 5,748,694 |
Restricted Funds £ 544 355 1,492 2,391 3,397 3,397 -1,006 -3,672 -4,678 -4,678 19,469 14,791 |
Endowment Funds £ 0 0 0 0 157 157 915 1,072 |
2021 Total Funds £ 106,995 33,034 1,468 4,109 4,285 149,891 165,512 165,512 -15,621 0 -15,621 43,260 27,639 5,736,918 5,764,557 |
2020 Total Funds £ 105,816 60,837 18,253 5,159 8,802 |
|---|---|---|---|---|---|
| 198,867 190,064 |
|||||
| 190,064 | |||||
| 8,803 0 |
|||||
| 8,803 -4,107 |
|||||
| 4,696 5,732,222 |
|||||
| 5,736,918 | |||||
All income and expenditure has arisen from continuing activities.
5
Chapel Field Road Methodist Church
Balance Sheet
At 31 August 2021
| Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Investments 12 Cash at Bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS NET ASSETS FUNDS 14 Unrestricted funds Restricted funds Endowment funds TOTAL FUNDS |
Unrestricted Funds £ 5,324,248 296,524 5,620,772 32,710 78,733 20,189 131,632 (3,710) 127,922 5,748,694 |
Restricted Funds £ 0 10,595 4,196 14,791 14,791 14,791 |
Endowment Funds £ 1014 1,014 58 58 58 1,072 |
2021 Total Funds £ 5,324,248 297,538 5,621,786 32,710 89,386 24,385 146,481 (3,710) 142,771 5,764,557 5,748,694 14,791 1,072 5,764,557 |
2020 Total Funds £ 5,330,574 254,278 |
|---|---|---|---|---|---|
| 5,584,852 30,773 90,062 38,689 |
|||||
| 159,524 (7,458) |
|||||
| 152,066 | |||||
| 5,736,918 | |||||
| 5,716,534 19,469 915 |
|||||
| 5,736,918 |
The financial statements were approved by the Church Council on 23 February 2022 and were signed on its behalf by:
G Brown - Trustee
Revd M Olanrewagu - Trustee
Chapel Field Road Methodist Church
6
Notes to the Financial Statements for the year ended 31 August 2021
1 ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at bid value.
Incoming resources
These are included in the Statement of Financial Activities (SOFA) when the church becomes entitled to the resources; the Trustees are virtually certain they will receive the resources and the monetary value can be measured with sufficient reliability. In respect of legacy income only, income is only recognised on receipt of funds to the church bank or TMCP accounts.
Resources expended
Expenditure is recognised when a liability is incurred, or a constructive obligation arises that results in the payment being unavoidable. Expenditure is accounted for on an accruals basis.
Tangible fixed assets
Church land and buildings are owned by the Trustees for Methodist Church Purposes (TMCP) and the local Church
Council acts as Managing Trustee.
On adoption of FRS102 on 1.9.2016, the Church land and buildings and the Church organ were valued at their replacement costs of £4,950,000 and £350,000 respectively. We have elected to treat this value as deemed cost in line with transition exemptions available. The original costs were £987 for the land, £5,420 for the building and £576 for the organ, all purchased in the 1880s.
The building and the organ are subject to a regular maintenance programme, thus maintaining their value; for this
reason it is not considered necessary to provide for depreciation of these assets.
All other tangible fixed assets with a value of £1000 and over are capitalised and included in the Balance Sheet. Their value is depreciated on a straight line basis over 5 years.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Chapel Field Road Methodist Church
7
Notes to the Financial Statements for the year ended 31 August 2021
Fixed asset investments
Investments held in TMCP trusts are valued in the balance sheet at bid value at the year end. Investment income is
included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.
Current asset investments
These are held in interest bearing accounts operated by TMCP and the Central Finance Board. Interest earned is shown on the SOFA.
Liability recognition
Liabilities are recognised as soon as there is legal or constructive obligation committing the church to pay out resources.
Irrecoverable VAT
This is included within the relevant costs incurred by the charity.
| 2 DONATIONS AND LEGACIES Offerings, donations and tax recoverable Coronavirus Job Retention Scheme grant Legacies Special collections for other charities 3 OTHER TRADING ACTIVITIES Fundraising activities Lettings 4 INVESTMENT INCOME Investments and deposit income 5 INCOMING RESOURCES FROM CHARITABLE ACTIVITIES Church Groups Other income from charitable activities |
2021 £ 91,650 14,801 33,034 544 140,029 2021 £ 355 1,113 1,468 2021 £ 4,109 2021 £ 1,492 2,793 4,285 |
2020 £ 97,131 7,794 60,837 891 |
|---|---|---|
| 166,653 | ||
| 2020 £ 400 17,853 |
||
| 18,253 | ||
| 2020 £ |
||
| 5,159 | ||
| 2020 £ 5,918 2,884 |
||
| 8,802 |
8
Chapel Field Road Methodist Church
Notes to the Financial Statements
for the year ended 31 August 2021
| 6 DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Insurance and utilities Circuit Assessment Donations Special collections for other charities Repairs and maintenance Other expenditure Church Groups Depreciation Independent Examination Fee |
2021 £ 28,938 9,087 89,670 6,880 544 13,913 4,406 1,493 9,021 1,560 165,512 |
2020 £ 25,944 11,158 100,980 8,808 891 19,891 8,649 4,217 7,966 1,560 |
|---|---|---|
| 190,064 |
7 TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2021 nor for the year ended 31 August 2020.
There were no trustees' expenses paid for the year ended 31 August 2021 nor for the year ended 31 August 2020.
| 8 STAFF COSTS Wages and Pension Contributions Social security costs The average monthly number of employees during the year was as follows: Full time employees |
2021 £ 28,938 0 28,938 2021 1 |
2020 £ 25,944 0 |
|---|---|---|
| 25,944 | ||
| 2020 1 |
No employees received emoluments in excess of £60,000.
9
Chapel Field Road Methodist Church
Notes to the Financial Statements
for the year ended 31 August 2021
| 9 TANGIBLE FIXED ASSETS Church building Organ £ £ COST At 1 September 2020 4,950,000 350,000 Additions Disposals At 31 August 2021 4,950,000 350,000 DEPRECIATION At 1 September 2020 Charge for year Eliminated on disposal At 31 August 2021 0 0 NET BOOK VALUE At 31 August 2021 4,950,000 350,000 At 31 August 2020 4,950,000 350,000 10 FIXED ASSET INVESTMENTS BID VALUE At 1 September 2020 Additions Redemptions Revaluations At 31 August 2021 There were no investment assets outside the UK. 11 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepaid Circuit Assessment 2021/22 (1st Qtr) Other debtors 12 CURRENT ASSET INVESTMENTS Central Finance Board and TMCP deposits 13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Creditors |
Fixtures and fittings £ 153,275 2,695 155,970 122,701 9,021 131,722 24,248 30,574 |
Motor vehicles £ 22,000 -22,000 0 22,000 -22,000 0 0 0 2021 £ 25,620 7,090 32,710 2021 £ 89,386 2021 £ 3,710 |
Totals £ 5,475,275 2,695 -22,000 |
|---|---|---|---|
| 5,455,970 | |||
| 144,701 9,021 -22,000 |
|||
| 131,722 | |||
| 5,324,248 | |||
| 5,330,574 | |||
| Listed investments £ 254,278 43,260 |
|||
| 297,538 | |||
| 2020 £ 25,620 5,153 |
|||
| 30,773 | |||
| 2020 £ 90,062 |
|||
| 2020 £ 7,458 |
10
Chapel Field Road Methodist Church
Notes to the Financial Statements for the year ended 31 August 2021
| Notes to the Financial Statements for the year ended 31 August 2021 |
||||
|---|---|---|---|---|
| 14 MOVEMENT IN FUNDS Unrestricted funds General Property Transport Legacy Reserve Book Donations Fixtures and Fittings Church Buildings and Organ Restricted funds Benevolent Church Groups Endowment funds Endowment trusts TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General Property Transport Legacy Reserve Book Donations Fixtures and Fittings Restricted funds Benevolent Church Groups Fundraising Special Collections Endowment funds Endowment trusts TOTAL FUNDS |
At 1.9.20 £ 38,977 200,207 28,351 116,610 1,815 0 30,574 5,300,000 5,716,534 11,600 7,869 19,469 915 5,736,918 as follows: Incoming resources £ 114,018 400 33,034 48 147,500 1,492 355 544 2,391 149,891 |
Net movement in funds £ -21,945 -14,145 400 76,017 7 -5,520 -6,326 28,488 -1,005 -1 -1,006 157 27,639 Resources expended £ -135,963 -14,145 -120 -41 -5,520 -6,326 -162,115 -1005 -1,493 -355 -544 -3,397 -165,512 |
Transfers between funds £ 21,985 9,000 -32,833 5,520 3,672 -3,672 -3,672 0 Gains and losses £ 43,103 43,103 0 157 43,260 |
At 31.8.21 £ 39,017 195,062 28,751 159,794 1,822 0 24,248 5,300,000 |
| 5,748,694 10,595 4,196 |
||||
| 14,791 1072 |
||||
| 5,764,557 | ||||
| Movement in funds £ -21,945 -14,145 400 76,017 7 -5,520 -6,326 |
||||
| 28,488 -1005 -1 0 0 |
||||
| -1,006 157 |
||||
| 27,639 |
11
Chapel Field Road Methodist Church
Notes to the Financial Statements
for the year ended 31 August 2021
| Notes to the Financial Statements for the year ended 31 August 2021 |
||
|---|---|---|
| 14 COMPARATIVE MOVEMENT IN FUNDS At 1.9.19 Net movement in funds £ £ Unrestricted funds General 38,532 -19,664 Property 228,560 -28,353 Transport 0 -1,649 Legacy Reserve 110,729 55,011 Book 1,868 -53 Donations 3,570 -4,700 Fixtures and Fittings 24,448 6,126 Church Buildings and Organ 5,300,000 5,707,707 6,718 Restricted funds Legacy (Property/Benevolence) 15,308 Benevolent 0 -3,708 Church Groups 8,277 1,701 23,585 -2,007 Endowment funds Endowment trusts 930 -15 TOTAL FUNDS 5,732,222 4,696 Net comparative movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General 130,559 -150,223 Property 30 -28,383 Transport -1,649 Legacy Reserve 60,837 -1,734 Book 232 -285 Donations -4,700 Fixtures and Fittings 6,126 191,658 -180,848 Restricted funds Legacy (Property/Benevolence) Benevolent -3708 Church Groups 5,918 -4,217 Fundraising 400 -400 Special Collections 891 -891 7,209 -9,216 Endowment funds Endowment trusts TOTAL FUNDS 198,867 -190,064 |
Transfers between funds £ 20,109 30,000 -49,130 1,130 2,109 -15,308 15,308 -2,109 -2,109 0 Gains and losses £ -4,092 -4,092 0 -15 -4,107 |
At 31.8.20 £ 38,977 200,207 28,351 116,610 1,815 0 30,574 5,300,000 |
| 5,716,534 0 11,600 7,869 |
||
| 19,469 915 |
||
| 5,736,918 | ||
| Movement in funds £ -19,664 -28,353 -1,649 55,011 -53 -4,700 6,126 |
||
| 6,718 0 -3708 1,701 0 0 |
||
| -2,007 -15 |
||
| 4,696 |
Chapel Field Road Methodist Church
12
Notes to the Financial Statements for the year ended 31 August 2021
14 MOVEMENT IN FUNDS - continued
Fund Purpose of the fund General Working capital to support ongoing commitments Property Building costs and purchase of equipment Transport Provision of a minibus service and other transport costs. Legacy Reserve Church projects and contingencies Book Purchase of books Benevolent Benevolence Church Groups Balances held by these groups Fundraising The Vidiyal Trust Special Collections Collections for other charities Donations Donations from church funds to other charities Church Buildings and Organ Deemed replacement costs on adoption of FRS102 Fixtures and Fittings Identification of the book value of these assets at the year end Endowment Legacy capital cannot be spent. Interest used in General Fund
Summary of Church Group funds as at 31 August 2021
| Church group Badminton Cameo CFR Traidcraft Choir Tuesday Friendship Club Mary Chapman Club Monday Scrabble Club Short Tennis Senior Table Tennis TOTAL |
Opening balance £ 832 492 101 200 3,676 2,503 19 10 36 7,869 |
Incoming resources £ 1,481 11 1,492 |
Resources expended £ -1,493 -1,493 |
Transfers £ 25 -3,687 -10 -3,672 |
Closing balance £ 832 492 114 200 0 2,503 19 0 36 |
|---|---|---|---|---|---|
| 4,196 |
Note: The £3687 transfer from the Tuesday Friendship Club when it closed in August 2021 will be ring-fenced in the Church Accounts for future expenditure which accords with the purposes of the club when it met.
15 Maintenance
Repairs to the church roof and front elevation brickwork were carried out during September 2021 costing £11450.
16 Related Parties
There were no related party transactions in the year under review.