Charlty registration number 1129441 (England and Wales)
WALWORTH METHODIST CHURCH
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025

WALWORTH METHODIST CHURCH
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mrs C Ogunsola
Mr O Akinyemi
Mr C Pratt
Mrs A Prall
MsZAdu
Mry Oduga
Mr Y Ogunsola
Rev David Markay
Ms Sabrina Prempeh
Mr Gershon VVard-Anderson
Mr Sam Anang
Mrs E Fletcher
Mr5 ABammeke
Joseph Basie
Alfred Thorpe
Michael Odunlami
June Dundas
Mr Vidal Sumner
Rèv Rachael Wilson
Edel Okon
Mr L Dada
Amorelle Decker
Oluyinka Kolawole
Martha Laryea
Farinu Oyèbimpe {Bimpel Duyilemi
Gifty Dravie-Dixon
Modupè Taiwo Fakoya
(Appointed 1 September 20241
(Appointed 1 September 20241
(Appointed 1 September 20241
(Appointed 1 September 2024
(Appointed 1 September 20241
Charity number
1129441
Prlncipal address
54 C8mb8rw811 Road
London
SE5 OEW
Auditor
PJT & Co Limited
Accountancy House
90 Vvalworth Road
Lonclon
SE16SW

WALWORTH METHODIST CHURCH
CONTENTS
Page
Trustees, report
Statement of trustees, responsibilities
Independent audilorfs report
Stslemenl of financial actlvilles
10
statement of fin8ncial position
statement of czsh flows
12
Notes lo the fin8nci81 statements
13-24

WALWORTH METHODIST CHURCH
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The Iruslees present their annual report and flnancial slalemenls for the year ended 31 August 2025.
The accounts have been prepared in accordan￿ with the accounting policies sel out in note to the accounts and
comply with the Charities Act 2011 and 'A¢¢ounting and Reporting by Charities.. Statement of Recommended Practice
applicable lo ¢harities preparing theii accounts in accordance with the Financlal Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1 Q2). las amended for accounting periods commencing from 1 January 2016)
Oblectlves and activltles
Summary of the obJe¢ts
The advancement of..
the Christian faith in accordance wvilh the doctrinal standards and the discipline c>f the Methodist Church.,
any charllable purpose for the time being of any ¢onn8xional, district, circuiL local or Dlher organisalion of the
Methodist Church.,
any charitable purpose for the tlme being of any socsety or inslituliDn being a society or in81ilulion subsidiary
or ancillary lo the Melhodisl Chur¢h',
any purp08e for ihe lime being of any charity boing a charily subsidiary or ancillary lo th8 Melhodisl Church.
Summary of the main aetlvltles
The trustees have paid due regard lo guidance i88ued by the Charity commbsslon In deciding what aclivilieg the
charity should undertake. in particular, the speciflc guidance on charities for the advancement of religion.
To this end, the Church offers services of public worship and prayer., programmes and activities for children and
adults lo learn about the Christian faith,. groups and PTogrammos lor youth, young adults and the elderly. pastoral
care and practical support for individuals within and outside the ¢hurch community and rooms that are available for
use by local community organisalions.

WALWORTH METHODIST CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
AGhlevements and Perfomiance
As a congregation within the Melhodisl Church in Britain, Walworth Methodist Church seeks lo Ihje out ils calling lo
respond to the gospel of God's love in Christ and lo live out its discipleshlp in worship and mission. As far as we are
able, with God's help. we will do this IhTOLSgh tsur worship, learning and caring, service lo others and èvangelism..
Th& congregation is a refleGlion of Melhodisl founder John Vvesley's words. 'The world is my parish,, as its
membership represents several Countries mostly from We81 Africa. A¢coTdingly. our seNice, outreach and assistance
to these communities, their wider diaspora in the London area, and our local Soulhwark ¢ommunity is all done with
intentionality on a broad inler-cullural map.
With worship al the centre of ils aclivilies, the congregation observed the cycle of the Christian calendar through
weekly worship of God, beginning with Advent, Christmas and Walchnighl aclivilie5 in December,. moving into Lenten
Iradilions in February and March; Easlertide celebrations beginning in April.. and the steady work of discipleship
through Ordinary Time.
The Church Council met quarterly, choosing a hybrtd rhythm of meeting in person in the warmer months, and via
Zoom in the autumn and winter seasons. Th8 entire congregation g8lh8red for ils Annual General Meeting on Sunday
20 July 2025. electing ropresenlalives lo the Council members. hearing a report on the finances, and engaging in an
open discussion about of the mission of thB church.
On behalf of the Church Council, the Finance & Property Committee, alongside Treasurer Mr. Vidal Sumner,
continued to manage the property and finanEial mallers of the congregation. Under that Gommillee's leadership
several uplifts in the building were completed, and the healing project, begun in October 2022. w8s completed, wrf(h
an official ceremony and prayer in the boiler room of the church on Easter Sunday 20 April 2025. In addition, Dn
behalf Df the Church Council. the EmploymentlHuman Resources Committee continued to Provide staff support in the
church office, welcoming Ms. Brandie Bonnick to the post of Office and Facilities Manager in August 2025, joining
Admini51ralion Officer Ms. Jenny Samuels in th8 office.
As part of ils ministry with children and young people, the Sursday school mel weekty, the Beauty-in-Divérsity group
organized a series of activities from 25 October-2 November 2025. In addition, a sizeable team of youth and adults
allended the British Methodist 3Generale Youth Gathering in Birmingham from 4-6 October 2025.
Throughout the yeai the congregation provided a pla￿ of Gomfort and faK(h during numerous fun$rals, and a
backdrop of joy and celebration during numerous b8plisms and several weddings. On Penlecosl Sunday 8 June
2025, the congTegalion welcomed seven young people through Confirmation and Iwenly-one new members through
Iiansfer and profession of faith. In aédilion to special Sundays hosted by the various Fellowship groups, the
congregation welcomed London District Chair Rev. Dr. Jonathan Dean on Sunday 1 December 2025.
Various networks of paslorgl care and support flouiished through the work of national Fellowship groups and th
dedicated team of Class Leaders. On 31 Augusl 2025 Ms. Eunice Fletcher completed her six-year term as Pastoral
Secretary, lo be succeeded in the leadership of the pastoral minislry by Ms. Nancy Chidawa. Volunteers provided
service of welcome to events and front-clesk hospitality during the week. Many diaspora school organisalions, choirs
and ￿der Fellowship groups used the building as a locus for Ihoir gatherings during the ye8r.
Undei the auspices of the Church Council and Ihe coordination of the Women's Fellowship, two new outreach
ministries have been insligaled." a Health Praclilioner Forum. made up Df medical personnel in the congregation as a
way lo provide support and signposting lo members- and a Food Bank lo assist persons in need. Both are expected
lo begln active Sery1￿ in 2025-2026.
The Ghurch conlinued lo host groups Irom the community whi¢h assist varsous cross-se¢tions of the BL)rough of
Soulhw8rk. In August 2025 the Golden Oldies group moved lo another location in Southwark lo hold ils weekly
meetings.
Continuing lo seek to provide a safe place for all people, particularly children and vulnerable adults, the church's
Safeguarding policy was reviewed, and Safeguarding given lime 818ach Tlleeling of the Church council.

WALWORTH METHODIST CHURCH
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Under the leadership of the Safeguarding officers, the congregation completed the London District Annual
S81eguarding audit, and continues to pursue DBS compliance for a11 leaders.
From 31 March
30 June 2025 Rev. Rachael Wlson look her mandated sabbatical leave. Along with her
responsibi5ilies as Superinlendenl of the Soulhwark & Depttord Methodist Circuit, Rev. Wilson ¢onlinued lo share
mbnislry responsibtlilies with Rev. Davicl Markay al Walworth ChLErch, as he continued lo serve as the congregation's
Chair of Trusteés.
As the 2C>24-2025 church year concluded on 31 August 2025, the congregation looked ahead, awaie of the needs
within and withDul, and lacing the future w41h hope and delemiinaliDn.
Acknowledgement
The ItUsle@s wish to thank the administrative staff of the church for thelr support in helping them carry out th@iT
responsibilities.
Flnanclal review
11 is the policy of the charity Ihal unrestricted funds which have not been designated for a specific use should be
maintained al a level equivalent lo between Ihree and six month's expenditure. The trustees consider that resetves 81
this level will ensure that, in the event of a significant diop in funding, they will be able lo continue the charily's Current
activities while consideration 15 given lo ways in which additional funds may be raised. This level of reserves has
been maintained throughout the year.
The Iruslees have assessed the major risks lo which the ch81ity is exposed, and are satisfied that systems are in
place lo mitigate exposure to the major risks.

WALWORTH METHODIST CHURCH
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Structures governance and managoment
Walworth Methodist Church is part of The MElhodisl Chuich in Great Britain and was historically an excepted charity.
Under the provisions of the Charity Act 2006 Walworth methI￿15t Church was registered on 6 May 2009 under charity
number 1129441. The Church is constituted in accordance wlth the Constitutional PraGlice and Discipline ICPD) of
Ihe Melhodisl Church.
The trustees who served during the year weie..
Mrs C Ogunsola
Mr O Akinyemi
Mi C Prati
MrsAPratt
MsZAdu
Mr Y Odu9a
Mr Y Ogunsola
Rev David Markay
Ms Sabrina Prempeh
Mr Gershon VVard-Andorson
Mr SamAnang
Mrs E FlelGher
MrsA Bammeke
Joseph Basie
Alfred Thotpe
hnichael Odunlami
June Dundas
Mr Vidal Sumner
Rev Rachael Wilson
Edel Okon
Mr L Dada
Amorelle Decker
Oluyinka Kolawole
Martha Laryea
Farinu Oyebimpe (Bimpel Duyil&mi
Gifty Dravie-Dixon
Modupe Taiwo Fakoya
(Appointed 1 September 20241
(Appointed 1 September 20241
(Apwinlèd 1 September 20241
(Appointed I Seplembei 20241
(Appointed 1 September 20241
The procedure for appointing Iruslees is sel out in CPD. The Church Council is made up of office holders who 8re
appointed by Ihe Church Council and who serve ex-offic￿, and additional members appointed by the Annual Church
Meeting.

WALWORTH METHODIST CHURCH
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
The church is managed on a day lo day basis by the ministers of the church (Rev. Rachael Wilsgn and Rev David
Markayl with paid and volunteer SLEPPOrt slaff and appointed church officers.
The Iruslees, report was approved by the Board of Trustees and signed on their behalf by..
Rev Davld Markay
Trustee
Dated.. 4 June 2026

WALWORTH METHODIST CHURCH
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2025
The Iruslees ale responsible for preparing the Trustees, Report and the Inancial slalemenls in a¢cordance with
applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally A¢c8pled Accounting
Praclic&l.
The law applicable lo charities in England and Wales requires the Iruslees lo prepare financial statements for each
rinancial year which give a true and falr view of the slate of affairs of the charity and of th8 incoming resources and
appllcation of resources of the charity lor that year.
In preparing these financial ststements, the trustees are required to..
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP..
make judgements and estimates that are reasonable and prudent..
slate whtslher applicable accounting standards have been followed, subject to any materlal departures disclosed
and explained in the financial 8tatements', and
prepare the financial statements on the going Concern basis unless il is inappropriate lo presume that the charity
will continue in opeTalion.
The trustees are responsible for keeping sufficienl accounling records that disclose with reasonable accuracy al any
lime the financial position of the chaiily anof enable them lo ensure that the financial stslements comply with the
Charities Acl 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They
are also r8sponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other itregularilies.

WALWORTH METHODIST CHURCH
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF WALWORTH METHODIST CHURCH
Opinion
We have audited Ihe Iinancial slalemenls ot Walworth Melhodisl Church Ilhe 'charily'l for the yea¥ ended 31 August
2025 which comprise the slalemenl of fi'nanci81 activities, the slalement of financial position, the slalemenl of Cash
flows and notes to the Iinancial slalemenls, including significant accounting po5icies. The financial ftsporting
framework that has been applied in its preparation is applicable law and United Kingdom Accounting S18ndards.
including Financial Reporting Standard 102 The Fin8nciBI Reporting Slandard applicable in Ihe UK ancl Republic of
Iroland (United Kingdom Generally Accepted Accounting Praclicel.
In our opinlon. the financial slalements..
give a true and fair view of the slate of the charity's affairs a8 al 31 AugLtsl 2025 and of its incoming Tesources
and application of resources. for the year then ended..
hav& been properly prepared in accord8nce with United Kingdom Generally Accepted Acwunling Practice-
and
h8ve been prepared in accordance with the Charities Act 2011.
Basis for opinlon
We conducted our audit in accordance with Intetnalional Standards on Auditing {UKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Audilols responsibilities for the audit of
the firpanc￿l &l(Ilvmenls section of our report. We are independent of the charity in ac¢ordance with the ethical
requirements that are relevant to Dur audit of the financial ststements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements, We believe
that thè sudil evidence we have obtained is sufficient and approprtat& lo provide a basis for our opinkon.
Conclusions relatlng to golng Goncern
In auditing the financial slatemenls, we have concluded that tha Iru8tees' use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, w8 have not identified any material uncertainties relating lo events or
conditions that, individually or collectively, may ¢asl significant doubl on the charity's ability to continue as a going
concern for a period of al least twelve tnonlhs frDm when the finarKial slalemenls are authorised for issue.
Our responsibilities and the responsibillties of the Iruslees with respect ID going concem are descrlbed in the
relevant sections of this report.
other informatlon
The other information comprisès the Inform8tlon Induded in the annual repc>rt other than the financial statements
8nd our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual
report. Our opinion on the financial slalemenls doe5 llot cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is lo read the other inlDrmalion and, in doing so, consicfer
whether the other information is materially inconsislenl with the financial slalemenls or OUT knowledge obtained in
the course of the audit, or otherwise appears lo be materially mi3s1aled. If we idenlify such material inconsistencies
or apparent material missl8lemenls, we are required to determine whether this gives rise to a material misslalemenl
in the financial slalemenls themselves. If. based on the work we have performed, we ¢onclude that there is a
material misslatemenl of this other information, we are requlred lo report that fact.
We have nothing lo report in this regard.
Matters on which we are required to report by exceptlon
We have nothing lo report in respect of the following mallers in relation lo which the Charities (Accounts and
Reports) Regulations 2008 requires us lo report lo you Sf, in our opinion.,
the information given in the financtal statements is in¢onsislent in any mat8rial respect with the Iruslees.
report., or
suffi¢iÈnl accounting records have not been kept., or
the financial slalemenls are not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.

WALWORTH METHODIST CHURCH
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF WALWORTH METHODIST CHURCH
Rasponslbllltles of trusl$os
As explained tllore fully in Ihe slalemènl of trustees, responsibilities, the Iruslees are responsible for the preparation
of the financial 8lalem8nts and for being satisfied that they give a true and f8ir view, and for such internal control as
the trustees determine is necessary to ènablè the preparation of financial slalements that are free from material
misslatemenl. whelhor due lo fraud or error. In preparing the financial statements, the Iruslees are responsible for
assessing the charity's ability to continue as a going COn￿rn. disclosing. as applicable, mallers related lo going
concern and using thu going concern basis of accounting unless the Iiustees either intend to cease operations, or
have no realistic allernalive but lo do so.
Auditor's responslbilities for the audlt of the flnancial ststements
We have been appointed as auditor under section 144 01 the Charities Acl 2011 and report in accordance with the
Act and relevant regulations made or having effect Ihereunder.
Our objectives are lo obtain reasonable assuran¢e about whether the financial statements as a whole are free from
material misstatement, whether due lo fraud or error, and to issue an auditols report that includes our opinion.
Reasonable assurance is a high level of assurance bul is rK)l a guarantee that an audit conducted in accDrdan¢e
with ISAS IUKI will always detect a material misslalemenl when il exists. Miss181omenls can arise from fraud or
error and are consideied material if, individually or in the aggregale. they Could reasonably be expected ID influencts
the economic decisions of users taken on the basi8 of these financial slalemenls.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities lo delecl material misslalemenls in respe¢t of irregularities, including fraud. The exlent
lo which our procedures are capable of detècting irregularities, including fraud, is detailed below.
Exlent to which the audlt was eonsldered Capable of detecting Irregularltlés, includlng fraud
Our approach lo identifying and assessing the risks of material misslalemenl in respect of irregularities, including
fraud and non-compliance with laws and règulations, was as follows..
The engagement p8rtner assessed whether the engagement lttam collecliv8ly had the approprlate competence
and capabilitie5 10 identify or recognize non-compliance with laws and reguSalions'
The laws and ￿gulationS applicable lo the charity were identified through discussions with Iruslèes an¢J those
charged with governance, and from our und&rslanding ol the charity sector,.
We identified specific laws and regulations which we considered may have a direct material effect on the financial
slalemenls or the operations Df the charity. including the Charities Act 2011, data protection, anti-bribery, and
employment legislation.
We assessed the ex16nl of compliance with the laws and regulations Identified above Ihrough making enquiries of
the trustees those charged with governance and inspecting legal correspondènce,. and the identified laws and
regulations were communicated lo the audit team on a regular basis and the team remained alert lo instances of
non-compliance throughout the audit
We assessed the susceplibllily of iho charity's financjal statements lo material Misslatemenl, including obtaining an
nderslanding of how fraud tnlghl occur, by..
making enquirtes of trustees and those charged with governance as to where they considered there was
susceplibilily lo fraud, their knowledge of actual, suspected and alleged fraud., and
considering the internal controls in place lo miligale risks of fraud and non-compliance with laws and regulalions.
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpeGled relationships.,
checked and lesled journal entries lo identify unusual Iransaclions.,
assessed whether judgements and assumptions made in determining the accounting estlmales were indicative of
potential bias,. and
investigated the rationale behind significanl or unusual Iransaclions.

WALWORTH METHODIST CHURCH
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF WALWORTH METHODIST CHURCH
In response lo the risk of irregularities and nonvcompliance w¢lh laws and regulations, we designed procedures
which included, bul were not limited to..
agreeing financial slalemenl disclosures to underlyÈng supporting documenlalion.,
enquiring of Iruslees and Ih05e charged with governance as lo actual and polentlal liligalion and dairns., and
reviewing coirespondence with relevant regulators.
There are inherent limitations in oui audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely il is Ihal we would become aware of non-compliance.
Auditing standards 81so limit the audit procedures required lo identify non-compliance wth laws and regulations 10
enquiry of the Iruslees and Dlher management and the inspection of regulatory and legal correspondence. if any.
Material misstalemenls that arise due to fraud can be haider to de18Ct than those that arise from error as they may
involve deliberate con¢ealmenl or collusion.
A furthtsr description of our responsibilities is available on the Financial Reporting Council's website at.. hltps'.11
w.frc.org.uklaudilorsrespon8ibililies. This description forms part of our audilorfs report.
This report is made solely lo the charity's Iruslees. as a body, in accordance with Part 4 of the Charities {Accounls
and Fieportsl Rtrgulalions 2008. Our audit work has been undertaken so that we might slate lo the charity's trustees
those matters we are required to slate to them in an auditor's report and for no other purpose. To the fullest exienl
permilled by law, we do not accept or assume responslbilily lo anyone other than the charity and Ihe charity's
Iruslees as a body, for our audit work, for Ihis report, or lor the opinions we have formed.
For and on be
alf of PJT & Co Limitgd, Slalulory Auditor
Chartered Certified Accountants
Accountancy House
90 Walworth Road
London
SEI 6SW
4 Jun8 2026

WALWORTH METHODIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 AUGUST 2025
Unrestrlcted Restricted
funds
funds
Total
202S
Total
2024
Note5
Income
Donations and legacies
other operating activities
Investments
156.552
289,246
3,171
80,707
237,259
289,246
10,422
227,006
350.231
7.353
7.251
Totsl Income
448,969
87,958
536,927
584.590
Ex
enditure on:
Raising funds and Charitable activities
473,991
68.235
542,226
435.090
Nel gains on Investments
11
3,900,000
3,900.000
Net lexpendlturelllncomè for the yearf
Net movement in funds
125.0231 3,919,723
3,894,700
149,50Cs
Fund balances a11 September 2024
456.297
8,645,444
9,101,741
8.952,241
Fund balances at 31 August 2025
431,274 12,565,187 12,996,441 9,101,741
The statement of financial activities includes all gains and losses recognised in the year.
10-

WALWORTH METHODIST CHURCH
STATEMENT OF FINANCIAL POSITION
ASAT31 AUGUST2025
2025
2024
Notes
Fixed assets
Property. plant and truuipmenl
Snvestmenl properties
13
14
77,559
12,63C),000
8,73D,000
12.707,559
8,730,000
Current assets
Trade and other receivables
Cash al bank and in hand
73,969
295,318
102,603
315,926
369.287
180,4041
418,529
146,7881
Current Ilabllltles
16
Nel current assels
288,883
371,741
Total assets less current Ilabilitiès
12,9ge,442
9,101,741
Income funds
Restricted funds
UnresliiGted funds
Designated funds
General unrestricted funds
17
12,565,167
8,645,444
18
21,836
409,639
21,636
434,661
431,275
456,297
12,996,442
9,101.741
The 8ccounts were approved by the Trustees on 4 June 2026
Rev
avid Mar
Trustee
dal Sumn&r
Treasurer
11

WALWORTH METHODIST CHURCH
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2025
2025
2024
Notgs
Cash flows from operatlng actlvities
Cash generated from operations
21
72,381
35.236
Invgstlng actlvlties
Acquisition of property. plant and equipment
Interest received
1103,4121
10,422
7.353
Net cash lused Inllgenerated from
Investlng actlvlll8s
192.9901
7,353
Net cash used in financlng activitles
Net Idecreas&Vlncrease in cash and cash
equlvalents
120,6091
42,589
Cash and cash equivalents al beginning of year
315,926
273.336
Cash and cash oqulvalents at end of year
295,318
315,926
12-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
Accountlng poll¢les
Charlty Information
Walworth Methodist Church is a registered chaiily in the United Kingdom, wth ils prineipal Iregisleredl
address al 54 CaJnberwell Road, London SE5 OEW.
1.1 Accountlng conv&ntEon
The financial 51atemenls have been prepared in accordance with the Charities Act 2011, FRS 102 The
Financial Reporting Standard applicable in the UK Republic of Ireland. l FRS 102.1 and the Charities
SORP "Accounting and Reporting by Charities: Statement ol Recommended Practice applicable lo charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021" leffeclive 1 January 20191. The chaiily is a Public Benefit Er¢lily as defined by
FRS 102.
The financial slalemenls have departed from the Charities {A¢¢ounls and Reports) Regulations 2008 only lo
the exlenl required lo provide a true and fair view. This departure has involved following the Slalement of
Recommended PraGlice for charities applying FRS 102 rather than the version of the Slalemenl of
Recommended Practice which is referred lo in the Regulations bul which has since been withdrawn.
The financial slalements are Pfepared in stofling, which is the funclional currency of thè charity. Monetary
amount5 in thes¢ I￿nancIal slalemenls are rounded lo the nearest £.
The financial statements have been prepared under the histoiical cost convention, Imodified lo include the
revaltjalion of freehold properties and to include investment properties and c8rtain financial instruments at fair
valuel. The principal accounting policies adopl8d are sel out below.
1.2 Going concern
The church having resumed ils regular Sunday worship services 15 seeing increase in ils membership
attendance and donations. The trustees have carefully reviewed the church's tinancial projections and
cashflows lo assess ils viability to continuè as a going concern. They have ieasonable expectation that the
arily has adequate resources lo continue in operational existence for the loreseeablo future. Therefore, the
trustees continue lo adopt the going concgrn basis of accounting in preparing the finan¢i81 stalemenls.
1.3 Charitable funds
Unreslricled funds a￿ available for use at the discretion of the trustees in lurtherance of their charitable
objectives.
Restricted funds are subject lo specific Conditions by donors or grantors as lo how they may be used. The
purposes and uses of the reslricled funds are sel out in the notes lo the financial ststemenls.
1.4 Incomlng re50urce5
1ncome1s recognised when the Charity is legally enlilled lo it 8ftar any perfomiance conditions havo b8en mel,
Ihg amounts can be measured reliably, and il is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, LJnlÈss performance conditions require deferral of the amount.
Legacies are recognised on receipt or olhemiso if the charity has been notified tsf an impending dislribulion,
the amount is known, and receipt is expected. If the amount is nDt known, the legacy is Irealed as a
conlingenl assèt_
1.5 Resource5 expendeil
Li8bililies are recognised as soon as there is a legal or constructive obligation commilling the charity to
expenditure All expenditure is accounted for on an accruals basis and has been Classified under headings
that aggregate all costs related ID the c81egory
13-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Accountlng pollcles
IContlnued}
Costs of generating funds are the costs of trading lor fundraising purposes.
Charitable expenditure Comprises those cos16 incurr@d by the charity in the delivery of ils activities and
services for 115 benefiGiari85, 11 includes both costs th81 can be allc>catecl directly lo such activities 2nd those
costs of an indirect nature necessary lo support them.
Governance costs include costs of the preparation and examination of the slalulory accounts. the ¢osls of the
trustee meetings and the cost of any legal advice to truslees on governance Dr conslilulional matters.
1.6 Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently meastjrèd al cost or valuation,
n8t of depreciation any impairment losses.
Depreciation is charged lor a full financial year on all fixed assets, regardless of the d8t& on which the assets
is acquired or b¥oughl into use during the year.
Depreciation is recognised so 8$ lo write off the cost or valuation of assets less their residua1 valu?s over their
useful lives on the following bases..
Fixtures and fithings
Motor vehicles
25°A slraighl line
500A straight lin
The gain or loss arising ¢)n the disposal of an asset is dètermined as the difference be￿een the sale
pro¢eeds and the carrying value of the asset, and is recognised in the slalemenl of financial aclivilies.
1.7 Investment propertles
Investment property. which is Property held to earn rentals 8ndlor for capital appreciation. is initially
recognised al cost, whlch includes the purchase cost and any directly atlribulablo expenditure. Subsequently
il is measured al fair value al the reporting end date. The surplus or deficit on revaluation is recognised in
profil or loss.
1.8 Impaimient of non-current assets
Al each reporting end dale, the charity ftsviews the carrying amounts of ils tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such iadicalion
exists, the recoverable amount of the asset is &slimat8d in Drder lo determine the exlenl of the impairment
loss lif any).
1.9 Cash and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at ¢all with bank5, other short-lerm liquid
investments with original maluTilies ol Ihree months or less. and bank overdrafts. Bank overdrafts are shown
within bc>rrowings in current liabilities.
14-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Accountlng poll¢lgs
Icontlnuedl
1.10 Flnancial instruments
The charity has elected lo apply the piowsions of Section 11 'Basic Financial Inslrumenls, and SeGlion 12
'other Financial Inslrum&nls Issues, of FRS 102 to all of ils financial inslrumenls.
Finan¢ial instruments are re¢ognised in the charity's balance sheet when the charity becomes party lo the
eonlraclual provisions of the instwmenl.
Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls, when
there is a legally enforceable right to set off the recognised amounts and there is an intention lo sellle on a
net basis or to realise the asset and sèltl8 the liability simultaneously.
Basic fiTnanclal assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are in￿liallY
measured al transaction price including transaction costs and are subsequently Garried al amortised cost
using the effective interest method unles5 the arrangement conslilules a financing transaction, where Ihe
transaction is measured al the present value of the future receipts discounted at a market rale of interest.
Financial assets Classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including trade and other payables and bank loans a￿ initially recognised at
transaction pricè unless Ihe arrangement constitutes a financing Iransaclion, where the debt instrument Is
measuTed al the present value of the future payments discounted al a market rate of irrteresl. Financial
liabilities classified as payable within One year are not amortised.
Debt instruments a￿ subsequently carried at amortised wst. using the eflective interest rate m@thod,
Trade payables are obligations lo pay for goods or services that hav6 been 2cquire(S in the ordinary course of
operations from Suppliers. Amounls payable are cla55ifiecl as Current liabilities if payment is due within on
yèar or less. 11 not, they are presented as non-currenl liabilities, Trade payables a￿ recognised initially al
transaction price and 5ub5equenlly measured al amortised cost using tha effectsve interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised whtrn the charity's conlraclual obligations axpir& or are discharged or
canEglled,
1.11 Employee benefits
The cost of any unused holiday entrtlemenl Is recognised in the period in which the employee's seNic8s are
received.
Termination benefits are recognised immediately as an expense when the chartly is demonstrably Commilled
lo lerminale the employment of an employee or lo) provide lerminalion beneflts.
Crltlcal accountlng estlmates and Judgements
In the application of the charity'8 accounting policies, the Iruslees are required lo mako juijgements, eslimales
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The eslimales and associated assumptions are based on historical experience and other factors that
are considered lo b8 relevant. Actual results may differ from these eslimales.
The estimates and undeTlying a85umplions are reviewed on an ongoing basis. Revision¥ lo accounting
estimates are recognised in the period In which the estimate is revised where the rovision affects only that
perlod. or in the period of the revision and fulure periods where the ievision affects both current and fulure
periods.
15-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Income from donatlons and legacles
Unrestrlcted Restricted
fund5
funds
2025
2025
Total Unrestricted R•strlctgd
funds
funds
2024
2024
Total
2026
2024
Donations and gifts
Membership fees
44,596
111,956
80,707
125,303
111,956
35,500
112,108
79,398
114,898
112.108
156.552
80,707
237,259
147.608
79,398
227,006
other trading actlvities
2025
2024
Lelling and licensing arrangements
289,246
350,231
16-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Raising funds and Charltablè activitles
Charltable Charltable
Expenditure Expendlturo
2025
2024
Staff costs
Depreciation 8nd impairment
Establishment costs
Repairs and rnainlenanee
General expenses
Printt"ng, posting and slalionery
Donations, gifts and subscription
Church expenses
Travel and subsistence
Fund raising and evenl8
Bank charg@S
Ministerial expenses
Security costs
Welfare and Christmas for and children
32.477
25.853
46.621
97,278
99D
7,901
459
17,911
2,533
53,244
402
4,023
38,939
13,140
13,667
57,801
50,628
13,78C>
7,093
13,448
17,394
1,110
72,293
396
3,682
30,301
3.500
341,771
285,093
Share of support costs (see note 71
Share of governance costs (see note 71
106.000
94,455
58,000
91,997
542.226
435,090
Analysls by fund
Unreslricled funds
Reslricled funds
473,991
68,236
371,646
63.444
542,226
435,090
18

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
Support costs
Support
other
costs Governance
costs
2025
2024 Basis of allocatlon
Circuit assessment
106,000
106,000
58,000
Audit and a¢counlancy
Govern8n¢e costs
11,400
83,055
11,400
83,055
9,400 Governance
82,597 Governance
106,0(>0
94.455
200,455
149,997
Analysed between
Charitable activities
106,000
94,456
2JO,456
149,998
Governance costs includes payments lo the auditors of £11,40012024- £9.4001 for
audit and accounlanGy fees.
Net movement In funds
2025
2024
The nel movement in funds is slalod after chargingll¢redilingl'.
Fees payable for the audit of the chafily's financial stslemenls
Depreciation of owned property, plant and equipment
11,400
25,853
9.400
Trust88s
The Iruslees had their lelephDn8 and incidental expenses amounting £4,Q2312024". £3.6821 reimbursed in the
year
10 Employees
The average monthly number of employees during the year was..
2025
NLEmb8r
2024
Number
Governance
Employment costs
2025
2024
Wages and salaries
Social security ¢Dsls
31,711
766
13,667
32,477
13,667
There were no employees whose annual remuneration was more than £60,000.

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
11 Galns and losses on Investments
Restrlcted
fund5
2025
Restricted
funds
2024
Gainslllossesl arising on..
Revaluat6on of Investment prDperties
3.900.000
12 Taxation
The Charity is èxempt from lax on income and gains falling within section 505 of the Taxes Act 1988 or section
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects.
13 Property* plant and equipment
Fixture5 and Motor vehlclas
fittln95
Total
Cost
At 1 September 2024
Additions
134,569
103,412
14.120
148,689
103,412
Al 31 August 2025
237.981
14,12D
252,101
Depreclatlon and impaiment
Al 1 September 2024
Depreciation charged in the year
134,569
25,853
14,12LI
148,689
25,853
Al 31 August 2025
160.422
14,120
174.542
Carrylng amount
Al 31 August 2025
77,559
77,559
14 Investment property
2025
Fair value
Al I September 2024
Nel gains or losses through lair value adjustments
8,730,000
3,900,000
At 31 August 2025
12.630,000
Investment property comprises 5444 Cambemell Road. The fair value of the investment propety has been
based on a revaluation carried out on 31 March 2026 by Newmark Gerald Eve LLP, Chartered Surveyors.
who are independent Df the charily.The valuation was prepared on an open market value basis wllh reference
ID comparable market IransBclions.
20-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
15 Trade and other recelvables
2025
2024
Amounts falllng due withln one year:
Trade receivables
Prepayments and accrued income
71,163
2,806
99,175
3,428
73.969
102,603
16 Current Ilabllltles
2025
2024
Other taxation and social securty
Trade payables
Other payables
A￿rua]S and deferred income
83
39,542
29,264
11,515
17,650
19,738
9,400
80,404
46,788
17 Restricted funds
The reslricled lunds of the charity comprise the unexpendod balan¢es of donatlons and granls h?Id on trust
subject lo specific conditions by donors as lo how they may be used.
At1
September
2024
Incomlny
resources
Resources
expended
Transfers
Galns and At 31 August
losses
2025
J B Memorial
fun
Special Appeals
Revaluation
Reserve
Fellowship
Funds
2,985
50,569
60
52,231
3,045
61,541
{41,2591
8.439,948
3,900.000
12.339,948
151,941
60.594
151.9031
160,832
8,645,443
112,885
93,162
3,900,000
12,565,165
21

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
17 Restrlctsd funds
(Continued)
Prevlous year:
At1
September
2023
Incoming
r&sourco$
Resources
expellded
Tfansfers
Galns and At 31 August
losses
2024
J B Memorial
f￿n￿
Building
Reserve
Special Appeals
Revaluation
Reserve
Felltswshlp
Funds
2,834
151
2,985
48
50.680
1481
130,8321
30,721
50,569
8.439.948
8,439,948
132,761
68,630
{49,4501
151,941
8,626,272
99.502
{80,3301
8,645.443
18 Unrestrlcted funds
The trustees have designated the followng amounts for Spec￿1¢ purposes..
Atl
September
2024
Incomlng
resourcès
Resources At 31 August
èxpended
2025
ChurGh Maintenance and Development
Reserve
General funds
21.836
434,661
21,636
409,639
448,969
1473,9911
456.297
448,969
1473,9911
431,275
Provious year:
At1
September
2023
Incoming
resourGe5
Reyources At 31 August
expendtrd
2024
Church Malnlenance and Development
Reserve
General funds
21,636
304,333
21.636
434.661
501,974
{371,6461
325,969
501,974
{371,6461
456,297
-22-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
19 Analysis of ngt as$ets betweèn funds
UnrestTlcted Designated R¢strlcted
funds
funds
funds
2025
2025
2025
Total
Total
2025
2024
Fund balances al 31 August
2025 are represenl6d by..
Property, plant and equipment
Investment properties
Current asselsllliabililie81
77,559
77,559
12,630,000 12,630,000
164.8331
288,883
8,72CI,000
371,741
332,080
21,636
409,63g
21,636 12,565.167 12,996,442
9,101,741
20 Related party transactions
During the yea¥, trustees engaged by the Ghurch to provide organist servlces recelved payments lolalling
£8,04512024.' £8.2451.
In addition. one Iruslee received remunerab.on of £10,311 during the year for bookkeeping and financial
adminislralion setvices provided lo the charity. The Iruslee did not participate in any discussions or decisions
relating lo their remunerallon.
The Church is part ol the Soulhwark and Deplloré Melhodisl Circuit within the Melhodisl Church. During the
year, the Church paid circuit 8$sassments of £106,000 lo the Circuit lo contribute Iow8rds stiponds, manse
costs and other minislry-relaled expenses.
As certain Iruslees of the Church also serve as Iruslees of the Circuit, these transactions are CDnsidered
Telaled party transactions in accordance with FRS 102 and the Charities SORP. The circull assessments ara
calculated on a standard basis applied CDnsislenlty across all churches within the Circuit and wer? not
inlluenced by the Iruslees concerned. The trustees did not participate in any decisions relating lo the approval
or level of these payments.
The balance payable to Soulhwatk and Deptford Methodist Clrcull as on 2025 is £26,500.0012024'. 01.
21 Cash gen&rated from operatlons
2025
2024
Surplus for the year
3,894,701
149,500
AdSustments for:
Investment income recognised in slalemgnt of financial activities
Fair value gains and losses Dn investment Properties
Depreciation and impairment of propèrty, plant and equipment
110,4221
13,900,000)
25.853
17,3531
Movements in worklng capltal:
Decreasellincreasel in trade and other receivables
Increaselldecreasel in trade and other payables
28,634
33,616
1101,9061
15,0051
Cash generated from operations
72,382
35,236
23-

WALWORTH METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
22 Analysls of ohanges In nèt funds
The charity had no malarial debt durlng the year.
-24-