# ## ## ## ## ## ## ||||Page| |---|---|---|---| |Trustees'|report||1-5| |Statement|oftrustees'|responsibilities|| |Independent
auditor's||report|7-9| |Statement|offinancial|activities|| |Statement|offinancial|position|| |Statement|ofcash flows||12| |Notes to the financial||statements|13-21| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||Unrestricted|Restricted|Total|Total| |---|---|---|---|---|---|---|---| ||||Notes|funds|funds|2021f|2020| |Income from:|||||||| |Donations
and legacies||||62,476|12,095|74,571|121,537| |Other operating
activities||||196,087||196,087|188,120| |Investments||||28||28|127| |Total income||||258,591|12,095|270,686|309,784| |Ex enditure
on:|||||||| |Raising funds|||||||520| |Raising funds and Charitable||activities||218,119|3,890|222,009|373,409| |Tota I resources expended||||218,639|3,890|222,529|373,929| |Net income/(expenditure)|for the yea rt||||||| |Net movement
in funds||||39,951|8,205|48,156|(64,145)| |Fund balances at 1 September||2020||210,707|8,608,557|8,819,264|8,883,410| |Fund balances at 31August||2021||250,658|8,616,762|8,867,420|8,819,265| ## ## ## ||||2021||2020|| |---|---|---|---|---|---|---| |||Notes||||| |Fixed assets||||||| |Property,
plant and equipment||||518||1,038| |investment
properties||||8,730,000||8,730,000| |||||8,730,518||8,731,038| |Current assets||||||| |Trade and other receivables|||17,187||10,315|| |Cash at bank and in|hand||142,812||'l15,840|| ||||159,999||126,155|| |Current
liabilities||14|(23,098)||(37,929)|| |Net current assets||||136,901||88,226| |Total assets less current liabilities||||8,867,421||8,819,264| |Income funds||||||| |Restricted
funds||15||8,616,762||8,608,557| |Unrestricted
funds||||||| |Designated
funds||16|21,636||21,636|| |General unrestricted|funds||229,023||189,071|| |||||250,659||210,707| |||||8,867,421||8,819,264| |The accounts were approved||by the Trustees on 17January 2023||||| |Rev David Markay|||Vidal|Sumner||| |Trustee|||Treasurer|||| ## ## |||||||2021||2020|| |---|---|---|---|---|---|---|---|---|---| |||||Notes|R||||| |Cash flows from operating|||activities||||||| |Cash generated|from/(absorbed
by)||||||||| |operations|||||||26,945||(59,936)| |Investing
activities|||||||||| |Interest received||||||||127|| |Net cash generated
from||investing|||||||| |activities|||||||||| |Net cash used|in financing||activities||||||| |Net increase/(decrease)||in|cash and|cash|||||| |equivalents|||||||26,973||(59,809)| |Cash and cash equivalents|||at beginning|ofyear|||115,840||175,648| |Cash and cash|equivalents||at end of|year|||142,812||115,840| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2021|2020| |---|---|---|---|---|---| ||Letting and|licensing|arrangements|196,087|188,120| |6|investments||||| |||||unrestricted|Unrestricted| |||||funds|funds| |||||2021|2020| ||Interest receivable|||28|127| |6|Raising funds||||| |||||2021|2020| ||Depreciation|and impairment||520|520| |||||520|520| ## ## ## ||||Charitable|Charitable| |---|---|---|---|---| ||||Expenditure|Expenditure| ||||2021|2020| ||||E|| |Staff costs|||45,510|46,864| |Establishment
costs|||32,826|44,030| |Repairs and maintenance|||8,486|17,145| |General expenses|||2,420|577| |Printing,
posting and|stationery||10,636|10,872| |Donations,
gifts and subscription|||1,000|15,254| |Church expenses|||9,681|19,075| |Travel and subsistence|||2,150|5,540| |Fund raising and events||||16,500| |Ministerial
expenses|||874|740| |Security costs|||2,988|24,705| |Welfare and Christmas||for elderly and children|345|4,000| |Refunds and return ofdeposits||||295| |Peace garden
project||||3,304| ||||116,916|208,901| |Share ofsupport costs||(see note 8)|58,000|106,000| |Share ofgovernance|costs (see note 8)||47,093|58,508| ||||222,009|373,409| |Analysis
by fund||||| |Unrestricted
funds|||218,119|321,687| |Restricted
funds|||3,890|51,722| ||||222,009|373,409| |Forthe year ended 31||August 2020||| |Unrestricted
funds|||321,687|| |Restricted
funds|||51,722|| ||||373,409|| ## ## ## |Support|costs|||||| |---|---|---|---|---|---|---| |||Support|Governance|2021|2020|Basis ofallocation| |||costs|costs|||| |Circuit assessment||58,000||58,000|106,000|| |Audit and|accountancy||6,600|6,600|6,900|Governance| |Governance
costs|||40,493|40,493|51,607|Governance| |||58,000|47,093|105,093|164,507|| |Analysed|between|||||| |Charitable|activities|58,000|47,094|105,094|164,509|| ## ## |The average|monthly
number ofemployees
during th|e year was:|| |---|---|---|---| |||2021|2020| |||Number|Number| |Governance|||| |Employment|costs|2021|2020| ||||K| |Wages and|salaries|45,510|46,864| ## ## |11|Property,
plant and equipment|Property,
plant and equipment|Property,
plant and equipment|||| |---|---|---|---|---|---|---| |||||Fixtures and Motor vehicles||Total| |||||fittingsf|f|| ||Cost|||||| ||At 1 September 2020|||134,569|14,120|148,689| ||At 31August|2021||134,569|14,120|148,689| ||Depreciation|and impairment||||| ||At 1 September 2020|||133,531|14,120|147,651| ||Depreciation|charged|in the year|520||520| ||At 31August|2021||134,051|14,120|148,171| ||Carrying
amount|||||| ||At 31August|2021||518||518| ||At 31August|2020||1,038||1,038| |12|Investment|property||||| |||||||2021f| ||Fair value|||||| ||At 1 September 2020||and 31August 2021|||8,730,000| ## |13|Trade and other rece|ivables||| |---|---|---|---|---| ||Amounts
falling due|within one year:|2021f|2020f| ||Other receivables||17,187|10,315| |14|Current
liabilities|||| ||||2021f|2020f| ||Other taxation and social security||1,784|| ||Trade payabies||12,706|6,478| ||Other payables||2,006|2,006| ||Accruals and deferred|income|6,600|29,443| ||||23,096|37,927| ## ## ## |||Movement|in funds||Movement|in funds|| |---|---|---|---|---|---|---|---| ||Balance at|Incoming|Resources|Balance at|Incoming|Resources|Balance at| ||1 September
2019|resources|expended|1 September
2020|resources|expended|31August
2021f| |JBMemorial|||||||| |fund|5,743|20|(3,000)|2,763|||2,766| |Building|||||||| |Reserve||||48|||| |Special|||||||| |Appeals|65,909|12,627|(10,518)|68,018|3,137|(2,890)|68,265| |Revaluation|||||||| |Reserve|8,439,948|||8,439,948|||8,439,948| |Charitable|||||||| |Funds|1,300|||1,300|||1,300| |Fellowship|||||||| |Funds|116,034|19,150|(38,704)|96,480|8,955|(1,000)|104,435| ||8,628,982|31,797|(52,222)|8,608,557|12,095|(3,890)|8,616,762| ## |||||||Movement||Movement|| |---|---|---|---|---|---|---|---|---|---| |||||||in funds||in funds|| ||||||Balance at|Incoming|Balance at|incoming|Balance at| |||||1|September|resources|1 September|resources|31August| ||||||2019||2020||2021| |||||||f|||| |Church|Maintenance|and|Development||||||| |Reserve|||||21,636||21,636||21,636| ||||||21,636||21,636||21,636| ## ## |17|Analysis|of net assets between|of net assets between|funds||||| |---|---|---|---|---|---|---|---|---| |||||Unrestricted|Restricted|Designated|Total|Total| |||||funds|funds|funds||| |||||2021
K|2021|2021|2021|2020f| ||Fund balances at 31||August|||||| ||2021 are|represented|by:|||||| ||Property,|plant and equipment||518|||518|1,038| ||Investment|properties|||8,730,000||8,730,000|8,730,000| ||Current assets/(liabilities)|||228,505|(113,238)|21,636|136,903|88,228| |||||229,023|8,616,762|21,636|8,867,421|8,819,266| ## |19|Cash generated
from operations|||||2021|2020| |---|---|---|---|---|---|---|---| ||Surplus/(deficit)
for the year|||||48,157|(64,145)| ||Adjustments
for:||||||| ||Investment
income recognised
in statement|||offinancial|activities|(28)|(127)| ||Depreciation
and impairment
of property,||plant and equipment|||520|520| ||Movements
in working
capital:||||||| ||(Increase)/decrease
in trade and other receivables|||||(6,872)|17,500| ||(Decrease) in trade and other payables|||||(14,831)|(13,684)| ||Cash generated
from/(absorbed|by) operations||||26,946|(59,936)| |20|Analysis ofchanges
in net funds||||||| ||The charity had no debt during
the|year.|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |BAKTERH) CKhTlRED A. ' &~i fAs'
i'|BAKTERH) CKhTlRED A. ' &~i fAs'
i'|| |---|---|---| |a KEG''FLED hUDTFOU||| |2.2|It is not sufficient for us as auditors to conclude that the financial
statements
give a true and|| ||fair view solely on the basis that the financial
statements
were prepared
in accordance
with|| ||accounting
standards
and any other applicable
legal requirements.
We are therefore
required|| ||to consider whether
additional
disclosure
will be necessary
in the financia statements
when|| ||compliance
with an accounting
standard
is insufficient to give a true and fair view. Ifyou are|| ||unwilling
to make such additional
disclosures,
we will have to consider the effect on our|| ||report.|| |2.3|Our report
will be made solely to the charity's trustees, as a body,
in accordance
with|| ||Regulations
made under ChA 2011~s.154.Our audit work will be undertaken
so that we|| ||might state to the charity's trustees those matters we are required
to state to them
in an|| ||auditor's
report and for no other purpose. To the fullest extent permitted
by law, we wiII not|| ||accept or assume
responsibility
to anyone other than the charity and the charity's trustees|as| ||a body, for our audit work, for the audit report, or for the opinions we form. The audit ofthe|| ||financial
statements
does not relieve you of your responsibilities.|| |2.4|There are certain other matters,
which according
to the circumstances
may need to be dealt|| ||with in our report, for example
non-compliance
with a requirement
ofRegulations
to be made|| ||under the ChA 2011.Although
only auditors
of listed companies
are required
to include
key|| ||audit matters
in their report, there may be rare occasions when we believe
it necessary
to|| ||communicate
key audit matters
in our report.|| |2.5|Under ChA 2011,s. 156(2)we have a statutory
duty to make a written
report to the Charity|| ||Commission
on such matters
(which relates to the activities or affairs of the charity or of any|| ||connected
institution
or body) ofwhich we become aware during the course ofour audit and|| ||which we have reasonable
cause to believe is likely to be of material
significance
for the|| ||purposes
ofthe exercise by the Commission
of its functions
under ChA 2011,s. 156(3).In|| ||addition
under s. 156(4) ifwe become aware of any matter which does not require to be|| ||reported
under s. 156(2)but which we have reasonable
cause to believe is likely to be|| ||relevant for the purposes ofthe exercise by the Charity Commission
of any ofits functions|| ||then we may make a report on the matter to the Commission.
We may have to make this|| ||report without
your knowledge
and consent and we cannot undertake
to you to fetter this|| ||discretion
in any manner,|| |2.6|In addition,
we have a professional
duty to report ifthe financial statements
do not comply|in| ||any material
respect with applicable
accounting
standards
unless
in our opinion
non-|| ||cornpliance
is justified
in the circumstances.
In determining
whether or not any departure|is| ||justified we will consider:|| ||(a)
whether the departure
is required
in order for the financial
statements
to give a true|| ||and fair view; and|| ||(b)
whether
adequate
disclosure has been made concerning
the departure.|| |2.7|Our professional
duties also include:|| ||(a)
incorporating
in our report a descripfion
ofthe trustees'
responsibilities
for the|| ||financial statements,
where the financial statements
or accompanying
information|do| ||not include such description;
and|| ||(b)
considering
whether other information
in documentation
containing
the financial|| ||statements
is consistent
with the audited
financial
statements
and our knowledge|| ||acquired
during
the course ofthe audit.|| |2.8|Under the Charities
(Accounts and Reports) Regulations
2008 (Sl 2008/629), you are|| ||required
to report as to whether
you have given consideration
to the major risks to which the|| ||charity is exposed, and to the systems designed
to mitigate those risks. Compliance
with|the| ||Charities SORP requires
you to confirm that those risks have been reviewed
and that|| ||systems have been established
to mitigate those risks. We are not required
to audit this|| ||statement,
or to form an opinion
on the effectiveness
ofthe risk management
and control|| ||procedures.|| ## |++a co|++a co||| |---|---|---|---| |CHA
kle
kTBtED CEKllFKD hcCOVhTAPCS
i~gD AUDtTOU|||| |2.9|Where the charity is a subsidiary
ofa charitable
group, the audited
financial statements
of||this| ||charity are included
in the group financial
statements
ofthe parent. We are required
by||| ||auditing
standards
to cooperate
with the auditors ofthe parent and to provide them with||| ||representations
and confiirmations
concerning
the conduct ofthe audit ofthis charity. You||| ||agree that we may correspond
with the auditors ofthe parent and respond to their reasonable||| ||requests for information
(which may include granting
them access to our working
papers)||| ||concerning
the preparation
and audit ofthe group financial
statements
without
further||| ||authority
from you,||| |2.10|Where the charity is the parent ofa group and all components
are audited
by the same firm,||| ||the audited
financial
statements
ofthis charity are the group financial
statements.
As the||| ||group engagement
auditors,
we are required
by auditing
standards
to coordinate
the audit||| ||work on all subsidiary
companies.
Therefore, whilst as auditors ofeach subsidiary
company||| ||the firm already has access to the management
ofthose companies
concerning
their||| ||individual
audited
financial statements,
you agree that we may also correspond
with the||| ||management
ofthe subsidiary
companies
and request reasonable
information
concerning||the| ||preparation
and audit ofthe group financial
statements
without further
authority
from you.||| |2.11|Where the charity is the parent ofa group and not all component
auditors are from the same||| ||firm, the audited
financial
statements
ofthis charity are the group financial statements.
As|the|| ||group engagement
auditors,
we are required
by auditing
standards
to coordinate
the work|of|| ||the auditors ofthe subsidiary
companies
and to provide them with guidance
concerning
the||| ||conduct ofthe audit ofthe group. You agree that we may correspond
with the management||of| ||the subsidiary
companies,
and their auditors,
and request reasonable
information
(which may||| ||include access to the subsidiary
auditor's
working
papers) concerning
the preparation
and||| ||audit ofthe group financial statements
without further
authority
from you.||| |2.12|We will inform you of all significant facts that may bear upon our integrity,
objectivity and||| ||independence.||| ||Scope ofaudit||| |2.13|Our audit will be conducted
in accordance
with the ISAs (UK) issued by the Financial||| ||Reporting
Council (FRC).An audit invoives obtaining
evidence about the amounts
and||| ||disclosures
in the financial statements
sufficient to give reasonable
assurance
that the||| ||financial
statements
are free from material
misstatement,
whether caused by fraud or error.||| ||We will evaluate
whether the information
presented
in the financial statements
is relevant,||| ||reliable, comparable
and understandable
as well as providing
adequate
disclosures
and||| ||appropriate
terminology.
This includes an assessment
of:||| ||~
whether
the accounting
policies are appropriate
to the chanty's circumstances
and have||| ||been consistently
applied
and adequately
disclosed;||| ||~
the reasonableness
ofsignificant
accounting
estimates
made by the trustees;||| ||~
whether
there is adequate
disclosure
ofthe applicable
financial
reporting
framework;
and||| ||~
the overall presentation
ofthe financial statements,||| ||In addition,
we read all the financial
and non-financial
information
in the Trustees'
Annual||| ||Report to identify
material
inconsistencies
with the audited
financial statements
and to identify||| ||any information
that is apparently
materially
incorrect based on, or materially
inconsistent||| ||with, the knowledge
acquired
by us in the course of performing
the audit. Ifwe become aware||| ||of any apparent
material
misstatements
or inconsistencies
we consider the implications
for||| ||our report.||| |2.14|Because ofthe test nature and other inherent
limitations
ofan audit, together
with the||| ||inherent
limitations
of any accounting
and internal
control system, there is an unavoidable|risk|| ||that even some material
misstatements
may remain
undiscovered
even though the audit is||| ||properly
planned
and performed
in accordance
with ISAs (UK).||| |2.15|We will obtain an understanding
ofthe accounting
and internal
control systems
in order to||| ||assess their adequacy as a basis for the preparation
ofthe financial
statements
and to||| ||establish
whether
the charity has maintained
sufficient accounting
records. We will need to||| ||Page 4of6
Walworth
Methodist
Church||| ||BcCO
BARTERED)|BcCO
BARTERED)|| |---|---|---|---| |,
e|CMTIHED ACCt~i'rA'Tri
FLCIfTFJZD hÃ)TfOVi||| |||obtain relevant
and reliable evidence
sufficient to enable us to draw reasonable
conclusions|| |||therefrom.|| |2.16||The nature and extent ofour tests will vary according to our assessment
ofthe charity's|| |||accounting
and internal
control systems,
and may cover any aspects ofthe business's|| |||operations. We shall report to the management
any significant
deficiencies
in, or observations|| |||on, the charity's systems
that come to our attention
ofwhich we believe the trustees
should|| |||be made aware. Any such report may not be provided
to any third party without our prior|| |||written consent. Such consent
will only be granted
on the basis that such reports are not|| |||prepared
with the interests ofany party other than the members
in mind and that we therefore|| |||neither have nor accept any duty or responsibility
to any other party as concerns the reports.|| |2.17||In performing
our audit procedures,
we may make use ofanalytical
tools. To facilitate this, we|| |||may request that you extract data, provide back-ups
or provide alternative
access to your|| |||accounting
systems.
How we will use analytical
tools and any data provided
will be set out in|| |||the communication
ofour planned
approach.|| |2.18||As noted
in section 1,the responsibility
for safeguarding
the assets ofthe charity and for the|| |||prevention
and detection of fraud, error and non-compliance
with law or regulations
rests with|| |||the trustees.
However,
we will plan our audit so that we have a reasonable
expectation
of|| |||detecting
material
misstatements
in the financial statements
resulting
from irregularities,
fraud|| |||or non-compliance
with law or regulations,
but our examination
should
not be relied upon to|| |||disclose all such material
misstatements
or frauds, errors or instances ofnon-compliance
that|| |||might exist.|| |2.19||As part of our normal
audit procedures,
we will request you to provide formal representations|| |||concerning
certain information
and explanations
we receive from you during
the course ofour|| |||audit,
In particular,
where we bring to your attention
misstatements
in the financial statements|| |||which are not adjusted,
we shall require
written
representation
ofyour reasons.|| |2.20||To enable us to conduct a review of your financial statements,
which constitutes
part ofour|| |||audit, we will request
sight ofany documents
or statements
which
will be issued with the|| |||financial statements.|| |2.21||Once we have issued our report we will have no further direct responsibility
in relation to the|| |||financial
statements
for that financial year. However, as noted
in section 1,we expect that you|| |||will inform us of any material
event occurring between
the date ofour report and that ofthe|| |||annual
general
meeting,
which may affect the financial statements.|| |2,22||A fuller description
ofthe scope ofan audit offinancial statements
arising from the|| |||requirements
of ISAs (UK), together
with other legal and regulatory
requirements,
is provided|| |||on the Financial
Reporting
Councii's website at
.frc.or .uk/auditorsres
onsibilities.|| |||Communlcatlon|| |2.23||In order to ensure that there is effective two-way
communication
between
us we set out below|| |||the expected form and timing ofsuch communications.|| |||~
We shall contact your primary contact listed
in Key Facts by telephone
prior to each year-|| |||end for preliminary
discussions
concerning
the audit. We will confirm
in writing the matters|| |||discussed
and any agreed action.|| |||~
We will arrange a meeting
to discuss the forthcoming
audit prior to the expected start date.|| |||Again we will conflrin
in writing
the matters discussed
and any agreed action.|| |||~
We will arrange a meeting to discuss any matters
arising from the audit after completion|of| |||the detailed
work. Again we will confirm
in writing
the matters discussed
and any agreed|| |||action.|| |2.24||The formal communications
set out above are the minimum
required
to comply with auditing|| |||standards.
We shall ofcourse contact you on a more frequent
and regular basis regarding|| |||both audit and other matters.|| |2.25||We shall not be treated as having
notice, for the purposes ofour audit responsibilities,
of|| |||information
provided to members
ofour firm (principals
and staff) other than those engaged|| |||Page 5of 6
Walworth
Methodist
Church|| ##