Charity Registratlon No.. 1129451 EAST ANGLIA DISTRICT OF THE METHODISTCHURCH Financial Statements for the year ended 31st August 2024
CONTENTS Tiue Page and Narne of the Charity Contents Legal and Administrative Details of Charity 3 The Report of the Trustees 4-8 Statement of Twstees, Responsibilitses Auditors, Report to the Trustees 1(k13 Statement of FinancÉal Activities 14 Balance sheet 15 Notes to the accounts 1&18
LEGAL AND ADMINISTRATIVE DETAILS Trustoes The Trustees are appolnted by the Representative Session of the East Anglia District Synod. The followng Trustees have served during the period covèred by this report: Dlstrlct Chalr R6vd. Julian M. Pursehouse Deputy District Chalr Revd. Andrew King Revd. James Èamber Secretary of Synod Mrs. Susan Eldridge Assistant Secretary of Synod Mr Chris Finbow District Group Coryordinators Mr. Richard Dean Revd. Andrew King R8vd. Deborah Caulk Representative to tho Methodist Councll Dlstrlct Treasurer Mr. Shaun Cushion Dlstrlct Mission Enabler Dr. Yasmln Finch Trust Address Chapel Field Road Methodist Church Chapel Field Road, Norwich, NR2 1SD Audltors McM)re Green Chartered Accounlanls & Registered Auditors 22 Fria[5 Stre0( Sudbury, C010 2AA Bankers Barclays Bank plc 1 Princes Street. Ipswich, IP1 1PB
REPORT OF THE TRUSTEES The Trustees have pleasure in presenting their report for the year ended 31st August 2024.The financial statement have been prepared in accordance wilh the accounting policies set OLrt in note 1 to the accounts and comply the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities= St8tement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published November 2019. The Trust was regist8r8d on 7th May 2009 in accordance with the Charities Act 2011. Particulars ofthe charty's Trustees and professional advisers are given on page 3. Structure, Governance and Management The charity is operated under thg r8gulations of the Methodist Church as ststed in The Constitutional Practice and Disciplin8 of the Methodist Church with advice from Officers of the Methodist Church. At all times the charity wll implement the decisions and policy directions of Ihe Annual Methodist Conference. Aim5. Objectives and Activitles The objectives of the East Anglia District are those as set out for the Methodist Church of Great Britain in the Deed of Union 1932 and the 1976 Methodist Church Act. The charitable objects are the purposes of the Methcmjist Church and these are the advancement of.. (al the Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church., (b) any charttable purpose for the time being of any Connexional. district. circult, local or 0th8r organization of the Methodist Church- (c) any charitable purpose for the time baing of any society or institution subsidiary or ancillary to the Methodist Church., (d> any purpose for the time being of any charity being a charity subsidiary or ancillary lo the Methodist Church. The Districl Synod has also agreed a policy for the District (adopted in April 2014). which states that= The East Anglia District aims to enable. encourage and enthuse the people of God. We seek to do this by cr8ating and sustaining hospitable Christian communities in which people can: come lo faith grow faith own their faith share their faith celebrate tsith
REPORT OF THE TRUSTEES (continued) These objectives will be developed over th8 next tèn years through.. 1. Inspirational leadership in churches, Circuits and Ihe Districl that will lead to= sharing the love of Christ in word and aciion so that rnore people seek to be disciples of Jesus Christ increased attendanGe at worship increased commitment increased engagement wtth SynLMJ and other District events 2. The imaginative use of resources and buildings that priorilises innovation with the expectation that there wll be an increase in-. church misslon and outreach projects the enrichment of the life of the wid8r community new disciples building schemes ecumenical, community and World partnerships the development of churches as communities in which God is experienced 3. The development of District programmes that nuriure discipl8ship.18aming, mission and an understanding of our heritage. For example, Journey into Faith, Galeways to God?, material for use by small groups, etc. This will also include engagement wth Ihe Discipleship & Ministries Learning Nethrk. 4. The District Officers and District Stsff team providing good and relevant Services so that: District contacts are known District roles are understood churches and Circutts are able to access Ihe support and resourc8S they need 5. Effective nelworking and communicating across the District such that: people know where to tum for answers and support there is consistent. complete and relevarht information on the website electronio mmUnIcation is the primary sourc8 of networking 6. Shared knowledge experience such that Y. build and share an effective knowledge base enable people to access the knowledge base and feed into it highlight and shara good practice exercise better care of our natural resources publicise th8 knowledge base through the District webstte. gr8P8vine and word of mouth support the District web administrator 7. Shared responsibility in meeting the requiremonts of the Methodist Church and statutory authorities such that all requirements are communicated, understood and met. All of the above is inlended to develop confidence in God Ihat, In tum. leads to:
the transfomiation of people and communities through the presence of Ihe Holy Spirit imaginative risk-taklng, wilh a commitment lo leam from failure prayer support for new ventures
REPORT OF THE TRUSTEES (continued) Achiovements and Porfomiance The East Anglia District has sought to advan its aims and objectives during the year under review by continuing its lrfe of worship and mission within communities in Norfolk, Suffolk and Cambridgeshire and by providing support to local churches and Circutls. Particular highliqhts include: in partnership with thè nalional Methodist church. the recruilmont of a new District Chair, the Revd Helen Hollands who wll take up th8 positson on 1" September 2024. This role indudes a gorous training and indudion process during a shadowlng year. developing doser links with partner churches other parts of the world in consullation with the WCAG - in parlicular the District Is planning to welcome a delegation of repsentiveS from West Harare, this will be a return visit planned for 2025. ensuring that the theme of 'Becoming a Community of Wltness. continues to shape the way Y understand church lrfe and mission across the East Anglia District. Fresh objectives were detemined for the year ahead and sljbtnitted to the DPC for agreemenL continuing to support the Circuits so that resources can be more effectively shared. local churches are 8ssisled and greater economies of scale realised. This has resulted in a more innovatlve and mixed approach to th8 nature ()f Disthct and Circuit staffing across the whole District. providing resources to Circuits and lo[ churches by enabling the deployment of appropriate ordained and lay staff and by making specific grants to support pieces of work that advance our charttable objects and District Policy. Throughout this year the District has shared in a mission initiative called Pray8r 23 which has sought to foster a greater awareness of the Significan of prayer and has enuraged people to pray more regularly and Creatively. In addition the District is developing work In New Places for New People. imaginatively reflecting on the use of some premises where existing congregatlons have ceased to meet. ensuring that the Dlstrict is sufficiently resourced for its mission by reviewing the annual budgot and preparing a budgot for 2024-25. This includes the recognition that rising employment costs for District Staff need to be subsidisod by grants from the District Advance Fund. holding a numbe'r of special events and bespoke training opportunities. This work is undertaken in collaboration with colleagues in the LN Regional Team with whom we enjoy a g(x)d working relationship. This includes beswke training for ordained ministsrs through study days. This has included a special sgssion wtlh tho Superintendent Ministers around the value of Appreciative Inquiry. ensuring that we continue to develop the practrse of pastoral supervlslon across the whole District and rnaintain the effectlve rolkout of the District Implementation Plan for Supervision. ensuring our Safeguarding policies and practrce are robust and fit for purpose. working with our District Safeguardlng officer to ensur8 9d and effective safeguarding training. policies, DBS checks and safer recruitment are in Pla across the District. Thls builds on the 8xcellent report from the National Safeguarding AudtL
REPORT OF THE TRUSTEES (continued) continuing to oversee the Ministy among the Deaf Community by working Revd. Anne Richardson on a voluntary basis. The District has agreed to pay expense5. mileage and provide a structure of management and accounlablllty. providlng a revised and updated Wélcome Pack for incoming ministers who are new to the East Anglia Distric engaging in wise and strategic refiection about the deployment of ordained ministy aGross the District at a time of acute shortage of ordained ministry in the wid8r Methodist Church of Great Britain. This continues to be a challenge through the Methodist PrOsS of st81ioning. providing regular & intentional line-management for all of our employed District Staff Team. Measures to ensure proper oversigm were put in place for circuits that were carying va(2ncies through Stationing. ensuring that officers of the District think strategically about the balance beeen online & in presence meelings and make appropriate decisions about how we shall meet to do our work. building a cumure of Lay Testimony to increase confidence in fatth and disapleship. Flnancial review During the year the District received total income of £1,285,691, which is made up mainly from donations. assessment income and receipts from other circuits. The expenditure for the year amounted to £1,024,282. Induded within this was donations and grants made of £210,748. consisting of payrnents made to l(xal churches and arcuits, An overall gain was made in the year amounting to £273,751 after non-financial gains on revaluations of assets and investments. Risk Assessment and Management During the year under revtew, the Trust8es have maintained oversight of the major risks to whiGh the chartty is exposed, resulting in risk management strategies being itnplemented. Risks to which the organisation may be expos8d are identffied by the Trustees and kopt under r8gular review. Rèserves It is the policy of the charity to hold reserves in its unrestricted funds which have not yet been committed or éesignated for any particular purpose. The Trustees have set aside these reserves in order lo protect the future operations of the charity from the effects of any unfor8seen variations in its income as part of a policy of good financial prad1. The District Reserves Policy was reviewed during the year. The charity is requlred to maintain sufficient funds to cover 12 months of working capital.
REPORT OF THE TRUSTEES (continued) Publlc Benefft The Trustees have revi8wed the activities of the past year in line with the Charity Commission guidance on public interest benefit. The aims and objecllves of the East Anglia Distrfct are wtthin those guidelines and are Interpreted by the District as providing specrfic benefit to those who are members of the Methodist Church wthin NorfolL Suffolk and Cambrtdgeshire. Governlng Body The Trustees are the Goveming B(Kty of the Trust. Recruitment and Trainlng of Trustees The Charity Trustees are apwinted to the roles id8ntified on page 3. for 8 designated peiiod. by the Representstive Session of the East Anglia Dlstrict Synod. The District Chair and Secretary of Synod offer Iralning to new Trustees on appointment in the fomi of personal induction. Organlsatlonal Management The management of the Trust Is the responsibllity of the Tmstees through the executiv8 responsibilities of the District Policy Committee. It is conducted through a Finan and Property Committee, a Grants and Personnel Committee and three other Managomenl Committees. District employees a5SiSt in the Implementation of policies. Each Committee includes Trustees among its membership. as well as co-opted experts in relevant fields and representatives of the fifteen Circuits that make up the East Anglia District. The day to day administration of the District is the responsibility of the District Chair, the Secretary of Synod. the District Treasurer, and the District Property S8CTetary. Auditors We, the Trustees of the charity who held Offi at the date of approval of these Financial statements as set out ave each confim. so far as we are aware, that: th6re is no relevant audit information of which the charitS auditors are unaware.. and we have laken all the steps that we ought to have taken as Trustees in order to make ourselves aware of any relevant audit infomation and to establish that the charivs auditors are aware of that infomialion. Revd. Hen Hollands Trustee Mr Shaun Cushion Trustee Dale. 13)g } lg
STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting practi), and that they show a true and fair view of the stste of the East Anglia Districvs affairs. In preparing these financial statements. th8 Trustees are required to.. select suitable accounting polides and then apply them conslstenlly observe th8 methods and principles in the Charities SORP make judgem&nts and estimates that are reasonable and prudent State whether applicable accounting stsndards have been followed. subject to any material departures disclosed and explained in the finan¢ial slatements prepare the financial statements on the going o)ncem basis unless it is inappropriate to presume that the East Anglia Districl will continue in operation The trustèas arè r8sponsible for keeping proper accounting records that disclose with reasonable auraCY at any time the financial position of the charity and to 8nable them to ensure that the rinancial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and Ihe provisions of the Trust deed. They are also responsible for safeguardiro the assets of the charrty and tarj roasonablo steps for th8 prevention and det8ction of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financlal information included on the charity's website in accordance with legislation in the United Kingdom goveming the preparation and dissemination of financial statements.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE METHODIST CHURCH EAST ANGLIA DISTRICT Oplnlon We have audited the financial statements of The Methodist Church East Anglia District (the 'chartW) lor the year ended 31 August 2024 which comprise the statement of financial activities. the balance sheet and the related notes lo the financial statements. induding a summary of signlflcant accountlng policies. Tho flnanclal reporting framework thal has been applied in thelr preparation is applicable law and United Kingdom Accounting Standards, including Financial R6POrting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (Untted Kingdom Generally Accepted Ac(x)unting Pra1). In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 August 2024, and of its incoming resources and application of resources, including its income and expenditure. for Ihe year then 8nd6d; have been txoperly prepared in accordance with United Kingdom Generally Accepted Ac¢ounting Pra¢tice', and have been prepared in aGrdance with the requir8m8nts of the Chartlies Act 2011. Basis for opinion We conductsd our audlt in accordance with Intemational Standards on Audlting (UK) (ISAS (UK)) and applic8ble law. Our responsibilities urKler those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are indep8nd8nt of the charity in accordance wth the ethical requiremenls that are relevant to our audil of the financial statemenls in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance wtth these requirements. We believe that the audit evtdenc8 we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial staternents, we have concluded that the Trustees, use of the going COnM basis of accounting in the preparation of the financial.statements is appropriate. Based on the work we have perfrjnned, we have not identified any material uncertalntles relating tp th6 events or condttions that. indNidually or colleclively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from wh6n the financial statements are authorised for use. Our responsibilities and the responsibiltlies of the Trustees wth respeGt to Ihe going cOnM are described In the relevant sections of this report.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE METHODIST CHURCH EAST ANGLIA DISTRICT (continued) other Inforniation The trustees are responsible for the oth8r informalion. The other information comprlses the infomiation included In the trustees, annual report other than the financial statements and our auditor's report ther80n. Our opinion on thè financial statements d(w not cover the other infomiation and, except to the extent otherwise expliclY stated in our report. we do not express any form of assurance conclusion thereon. Our responsibilty Is to read the other inforTnation and. in doing so, consider whether the other information is materially inconsislent with the financial statements. or our knowledge obtained in th8 audit or otherwise appears to be matertglly misstated. If we Identify such material inconsistencies or apparent material misstatem8nts. we are required to detarmine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we h'ave performed. we conclud8 that there is a matsrial misstatement of this other infomiation. we are requlred to report that fact. We have nothing to report in this r8gard. Matters on whlch we are required to report by exceptlon We have nothing to reporl in respect of the following matters in rèlation to which the Chariti8S {Accounts and Reports) Regulations 2008 require us to report to you rf, in our opinion: the informatlon given in the financial statements inconsistent in any material respect with the trustees'.reFK)rt: or sufficient accounting rècords have not been kept: or the financtal ststements are not in agreement with Ihe accounling records; or we have not received all the infomation and explanations we requir8 for our audit. Rasponsibilities of trusteés As explained mor8 fulty in the trustees. responsibilities statement set out on page 9, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the truste85 determine is necessary to enable the preparation of financial ststements that are free from material misstatement. whether due to fraud or error. In preparin9 the financial ststemenls. the trustees are responsible for assessing the charivs abilty to continue as a gojng conrn, disctosing, as appIlble, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or t9 cgasp operations, or have no reallsti¢ altemative but to do so.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE METHODIST CHURCH EAST ANGLIA DISTRICT (continued) Auditorfs responslbllllies for the audlt of tha flnanclal statomont8 We have been appointe(l as audltor under sectk)n 144 of the Charttles Act 2011 and report in accordance wtth the Act and relevant regulations made or having effect thereunder. Our objectives ar8 to obtain reasonable assuran about whether the financial statements as whole are free from material misstatement. whether due to fraud or error, and to Issue an auditorfs report thal includes our opinion. Reasonable assuran is a high level of assurance bui is not a guarantee that an audit conducted in accordanc8 Wlth ISAS {UK) will always detect a material misstatement when it axists. Misstatements can arise from fraud or error and are considered material if. IndidUallY or in the aggregate, they could reasonably be expected to influence tha economlc decisions of users tak8n on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, ouuined above. to detect material misstatemonts in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregulariti8s. induding fraud, is d8tailed below. In identifying and assessing risks of matèrial misstatement in respect of irregulariti8s. including fraud and non-complian wtlh laws and regulations. our procedures included obtaining an understanding of the legal and regulatory frameworks applicable to the entity and the s8Ctor in which they operate. We detemiinod that the most significant laws and regulations were the Charities Act 2011 and general UK laws relating to religious public interest bodi8S. We assessed and conduded that the entlty's kay are8 was in relatlon to diroSUre of transactions by type of fund to ensure restricted income was Ir&aled as such. Specific audit tests were undertaken to raview this and ensure trans8Ctrons were correcuy allocated. We assessed the Sup'bl11ty of the entity's financlal statements to material misstatement. including how fraud might occur. Audit prOdureS by the engagement team included identfying and assessing th8 design effectivaness of wntrols management has in place to prevent and detect fraud: understanding how those charged wtth govemance considered and addressed the potential for override of controls or other inappropriat6 Irffluen over the financial reporting process: challenging assumption5 and judgements made by management in ils significant accounting estimates- identifying and testing unusual value entries. in particular any entries posted with unusual account comblnadons,. and assessing the extent of compliance with the releiiant laws and •• regulations. The size of the entlty and value of transactions indicated a low level of material risk. Because of lh8 inherent limitstions of an audit, there is a risk thet we will not delect all irregularitles, Indudinè those leading to a material mlsstatement in the finandal statements or non- Complian with regulation. This risk increases the more thal compliance With a law or regulation is removed from thè events and transacllons refiected in the financial statements, as we wll b8 less likely to become aware of Instances of non<ompliance. The risk is also greatsr regarding irregularities Occurring due to fraud.rather than error. as fraud involves Intentional concealment. forgery. llUsIon, omission or misr8presentation.
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE METHODIST CHURCH EAST ANGLIA DISTRICT (continued) A furth8r desLYiPtlon of our respSIbilItIeS is availabl6 on the FRC'S wobsile at: https.IlbWM.frc.org.uklauditorslaudrt-assuran1aUd[tor+responSIbIIffÉIes-fOr-the-audf(-Of-thQ- fildescription-of-the-auditorthE2%80%995-responsibilities-for.This descriptEon fonT6 part of our auditorfs report. We communicate with those charged wth govemance regarding, among other matters. the planned scope and timing of the audit and significant aLKJit findings, indudlng any significant deficaencaes in tnternal controt that we idenlrfy during our audit. Uge of our report This reFKJrt 18 mad8 solety to the charity's trustees, as a tK)dy, in aance wlth Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our 8udlt work has been undertaken so that we might state to the charity's truste8S those matters we are requlred to state to tham in an audito¢s report 8nd for no other purpose. To the fullest extenl permittsd by law, we do not aept or assume responsibilty to anyone other than the charity and the CharitS truste8s as a body, for our audit worK for this repor¢ for the opinions V•E have formed. Moore Green Statutory Auditor 22 Friars Street Sudbury Suffolk C010 2AA 28 May 2025 Moore Green is eligible to aGt as an auditorin temis of sect 1212 of the Companl8s Ad 2006.
The East Anglia District of the Methodist Church Statement of Flnancial Activltles for the year ended 31 August 2024 IFm t4&trE¢i Yothar Fur¥Jr Travd Fwd Tthiy Fwd Fuj OoV58d Le 141W9 316th4 141 4187 $6i974 79215 917 79.215 29 37.212 12.769 I.000 ou 1745 103.74e n2.4fO S54Th 80.134 ).746 1,2891 1.L¥J1618 Exp•t)dttW• t)3.165 ChDrWAthllles'. <ntsana Dontitic¥ 161283 210.748 5519TI IU149 Tr4¥d 5Q621 gB.70tr iO.SS2 7.382 24.168 1.024282 94,431 li.035 10 Ckner&p¥LQrtut• Exp•ndhuM iiiii 21.459 721Jll 14.922 9&602 165.e9B g0.rJ7 4A51 12.342 1LR785 12.342 273.751 .1q918 188.198 -10m3 -1.079 NrtMo¥•mèntkn Fur•6 TWlfwd5 bWhtfdIasIYear .1Q948 8¢0.542 829.594 188.198 56E.835 755.031 103 I71 1074 109.Y&5 131,2 240.067 .10M 25.1S7 14.$54 -179 9.7 7.97B 273.751 1.576,508 1.535.396 1.576Jr 95B AU incom88TrJ èxpendfiurg d8ri¥8sftDm wnunulng 8Cbvitres.
The Et ANJlla District of the Metlwdist Church Balance Sheet as at 31st August 2024 Y(¥Ahar CNldTeD' Try41 Fund Tang18 Assets 725.L 725,LKO T2$,0 OeDior5 Gpnwa FundfoMi5skffiArwurt Invesbnènts Inv8slm8nlFLmd Hlgh InG¢xnB Fur¥J Fur Tntst I81 OrThorn Evdns Totslknve8trrthi 8ank end Ca$h Th4CPD]StrEclAth•arK CFB FA¢¢1 CFBR&9Dut Fun¢ A(cL1 CFBAccountsvarfouS 8thce5 atbank 19, 1g.W) 27.357 18,540 3.091 106.441 108.189 236.661 18.940 3,091 106.441 108,189 16,BOI 2,947 136,3W2 1111 156.130 7SS034 7.0 71,825 18.034 34,905 566,836 3CQ 24,10 25.635 71.825 18.034 2.074 22,496 10.335 5.048 ,140 5.017 4.219 958 5.177 HSBC Youlh 5,112 2.866 7,978 7.978 5,112 7.(h13 1014 702.099 885.586 -34,078 lD9 LlosthTSb CNC¢out To1 BaThkar Ca 94,907 113.997 -9.403 104,594 755.034 755,034 2,D74 2.074 22.496 259.15T -19,090 240.067 14.554 14.554 898,001 1.153,752 -28,493 1,125,259 958 cre¢t( 755.034 14,554 7.978 129.S94 754034 2.074 24ts67 14,554 7,878 1.850.258 1,57WB 755,U34 240.087 240.Q07 7,978 3,195 9A(KI 131,282 9.OS7 3,195 7.978 3.195 9.40U 12,$95 7.03 240.067 7,9T6 1,015.674 710.370 2BO,Q 543,252 4JTT -2,8Y6 $43.2$2 .377 Q.U78 65U.328 3,013 536J99 538,999 958 2.074 14,554 554,585 1.5FO.25 1,8SD,25Y 557.347 gS8 2.074 14.554 14,554 IdF.554 14,$54 25.157 586,138 1.296,508 1.57 2.074 2.074 1174 958 958 958 549.594 755.034 755.034 240.067 7,978 7J78 FU The firMCl statements were opprwd ond outhorsrd for i%suÈ by the rrtstees M_.... . 5houn Cushic• (Ditrict Tredsur4rl kev Helen Hullands istrict Chair
The East Anglia District of the Methodist Church Notes to the financial statements for the year ended 31 August 2024
1 Accounting Policies
Basis of accounting
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £000.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Funds
With the exception of the District Advance Fund, Fund for Mission, Connexional Fund, New Places for New People Fund and the Benevolent Fund, which are considered to be Restricted Funds, all other funds are considered to be Unrestricted Funds for use for any purpose by the District. General Fund - Used to meet the costs of undertaking the work of the District
Connexional Fund and New Places for New People Fund are included in the financial statements within the General Fund on the primary statements. They are both for specific purposes being the pilot training scheme and new community palcements respectively.
District Advance Fund - Income is derived from levies on Circuit Model Trust Funds and is used to support ministry & building projects in the District. Travel Fund - Each Circuit pays a quarterly lvy per minister, funds are used to meet the costs of staff travel within the District. Education & Youth Fund - Used to support the work amongst children & young people in the District.
Fund for Mission - Income is derived from interest on investments & donations and is used to assist funding for mission activity in the District.
District Benevolent Fund - Income is derived from donations, and used to make benevolent donations at the discretion of the District Chair & fund treasurer
Treasurers' Bureau - This is a service offered to churches or local Methodist entity that cannot appoint a treasurer, each church or entity pay a small monthly fee for the service provided.
Incoming Resources
These are included in the Statement of Financial Activities when the District 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. No attempt is made to measure the value of services donated by volunteers.
Income from donations and legacies is recognised when the funds are received. These can be received from individuals, churches or Circuits. Income from assessments is is collected quarterly from the fifteen circuits in the District and is subsequently paid directly to the MCF (Methodist Church Fund).
Income from investments is derived from monies held in CFB (Central Finance Board) and investments held by TMCP (Trustees for Methodist Church Purposes).
All other income is measured on the basis of the financial period to which it relates and is disclosed as necessary based on it's materiality and impact on assessing the true and fair view of the financial statements.
Resources Expended
Expenditure is recognised when a liability is incurred or a constructive obligation arises that result in the payment being unavoidable. Since the District is not VAT registered, expenditure is inclusive of VAT where charged by the supplier.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Liability Recognition
Liabilities are recognised as soon as they are incurred regardless of payment date. They are recognised as soon as there is a legal or constructive obligation committing the District to pay out and that payment becomes probable. Until then, any material contingent liabilities are noted
Tangible fixed assets for use by the District
Tangible fixed assets are capitalised if they have a cost of more than £1,000 and can be used for more than one year. They are valued at cost or a reasonable value on receipt. Provision is made for depreciation of assets where appropriate. Where cost is not available, the finance and Property Committee may provide a reasonable estimate of cost or current value to the District. The District manse is shown at its re-valued amount. No depreciation is provided because the trustees consider the residual value of the manse is not less than the cost and depreciation would be immaterial
Investments
Investments are valued in the balance sheet at market 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.
Debtors
Unless otherwise stated, all debtors represent income of this period received in the subsequent period.
Creditors
Unless otherwise stated creditors represent income received in advance or normal expenditure accrued.
Going concern
To the best of their knowledge and belief the trustees confirm that there are no material uncertainties that would call into question the District’s financial viability for at least 12 months from the date of approval of these accounts.
2 Trustees
Dr Y Finch, District Devlopment Enabler, was paid remuneration for her duties during the year which amounted to £19,519 gross (2023: £18,601), and pension contributions of £797 (2023: £505). Other Trustees expenses and stipends amounted to £10,135 (2023: £nil). No Trustee was remunerated for more than £60,000 in either year.
The East Anglia District of the Methodist Church Notes to the financial statements for the year ended 31 August 2024
3 Fees for examination or audit of the accounts
| Auditors' fees for reporting on the accounts 4 Gross wages, salaries and benefits in kind Employer’s National Insurance costs Pension costs Total staff costs Staff Costs paid during the year were: Average number of full-time equivalent employees in the year were 6 (2023 - 6) |
2024 2023 £5,400 £3,750 |
|---|---|
| 2024 2023 £109,501 80,991 £4,686 4,686 £2,573 1,583 |
|
| £116,760 £87,260 |
|
| 5 | Capital Commitments and Contingent Liabilities | 2024 | 2023 |
|---|---|---|---|
| At the year end capital commitments on District Advance Fund amounted to: | £391,780 |
£193,063 | |
| Contingent liabilities amounted to: | £Nil | £Nil | |
| Payment of grants for subsequent years are included even though they remain subject to a satisfactory progress report. |
6 Tangible Fixed Assets
| Freehold Manse - Valuation B/fwd Revaluation in year Freehold Manse - Valuation C/fwd |
2024 2023 £725,000 £725,000 £0 £0 |
|---|---|
| £725,000 £725,000 |
The trustees consider it is prudent to show the property at its current market value of £725k although a new valuaiton will be undertaken in the following year.
7 Investment Assets
| Restricted Funds District Advance Fund Fund for Mission Benevolent Fund Connexional Training Fund New Places for New People (NPNP) The purpose of the fund is to start new Christian communities Investments held by Trustees for Methodist Church Purposes The purpose of the fund is to make benevolent payments at the discretion of the District Chair The purpose of the fund is to provide a pilot taining scheme The purpose of the fund is to receive monies received on sale of properties and other capital sources The purpose of the fund is to facilitate Mission, Training, Youth Work and all forms of Christian Evangelism and to make payments for capital projects and mission as provided in CPD and sanctioned by Connexion |
Value at Addition Disposal Gain/(loss) on investments Value at 01.09.22 31.08.23 £162,033 £0 £0 (5,903) £156,130 Value at Addition Disposal Gain/(loss) on investments Value at 01.09.23 31.08.24 £156,130 £108,199 (40,010) 12,342 £236,661 Opening Incoming Resources Transfers Closing Balance Resources Expended Balance £ £ £ £ £ 566,836 354,096 165,898 0 755,034 131,282 144,275 35,490 0 240,067 9,057 3,256 4,335 0 7,978 3,195 0 0 0 3,195 0 10,000 600 0 9,400 |
|---|---|
| 710,370 511,627 206,323 0 1,015,674 |
- 8 Restricted Funds
The East Anglia District of the Methodist Church
Notes to the financial statements for the year ended 31 August 2024
9 Unrestricted Funds
| General Fund Removals Fund Manse Fund Youth and Children's Work Fund The purpose of this fund is to facilitate Youth Work Travel Fund The purpose of this fund is to reimburse Presbyters and Deacons travel expenses from monies received from Ci Treasurer's Bureau The purpose of this fund is to cover the expenses of the Treasurer's Bureau 10 Revaluation Reserve Reserves b/fwd Movement in year Reserves c/fwd The revaluation reserve relates to the Freehold of the Manse. 11 Analysis of net assets between funds Restricted Income Funds: District Advance Fund Fund for Mission Benevolent Fund Connexional Training Fund NPNP Unrestricted Income Funds: Removal Expenses Fund Manse Reserve Fund General Fund Revaluation Fund Designated - Youth & childrens work Fund Travel Fund Treasurer's Bureau Fund The purpose of this fund is for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. The purpose of this fund is for use at the discretion of the trustees in assisting with the costs of relocating ministers and employees within the district circuit. The purpose of this fund is for use at the discretion of the trustees on the fabric of the manses within the district towards their maintenance and general upkeep. |
Opening Incoming Resources Transfers Closing Balance Resources Expended Balance £ £ £ £ £ 558,328 702,423 708,499 -9,000 543,252 3,013 0 6,890 500 -3,377 -3,994 0 7,382 8,500 -2,876 1,971 103 0 0 2,074 25,157 80,134 90,737 0 14,554 rcuits 1,663 3,746 4,451 0 958 586,138 786,406 817,959 0 554,585 2024 2023 £280,000 £280,000 £0 £0 £280,000 £280,000 Fixed Net current 2024 2023 Assets Investments assets Total Total 755,034 755,034 566,836 236,661 3,406 240,067 131,282 7,978 7,978 9,057 3,195 3,195 3,195 9,400 9,400 0 0 236,661 779,013 1,015,674 710,370 -3,377 -3,377 3,013 -2,876 -2,876 -3,994 445,000 0 98,252 543,252 558,328 280,000 280,000 280,000 2,074 2,074 1,971 14,554 14,554 25,157 958 958 1,663 |
|---|---|
| 725,000 0 109,585 834,585 866,138 |
|
| 725,000 236,661 888,598 1,850,259 1,576,508 |