## **MUSWELL HILL METHODIST CHURCH**
**Charity Registration Number: 1129796**
## **Annual Report and Financial Statements 31 August 2025**
**www.mhmc.org.uk**
Tandem Accounting Ltd Chartered Accountants 17 Heathville Road London N19 3AL
## **MUSWELL HILL METHODIST CHURCH**
## **Annual Report and Financial Statements 2025 Contents**
||**Page**|
|---|---|
|**Legal and Administrative Information**|**2**|
|**Annual Report of the Trustees**|**3**|
|**Independent Examiner's Report to the Trustees**|**6**|
|**Statement of Financial Activities**|**7**|
|**Balance Sheet**|**9**|
|**Notes to the Financial Statements**|**10**|
_1_
## **MUSWELL HILL METHODIST CHURCH**
## **Annual Report of the Trustees For the year ended 31 August 2025**
|**Charity Name**|Muswell Hill Methodist Church||
|---|---|---|
|**Principal Address**|28 Pages Lane, Muswell Hill, London N10 1PP||
|**The Governing Document**|Deed Of Union (1932) and Methodist Church Act (1976)||
|**Objectives**|The advancement of:||
||a) The Christian faith in accordance with the doctrinal standards and discipline of The||
||Methodist Church;||
||b) Any charitable purpose for the time being of any Connexional, District, Circuit,||
||local or other organisation of The Methodist Church;||
||c) Any charitable purpose for the time being 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||
||to The Methodist Church.||
|**Trustees**|The Trustees who served during the year and were serving at the date of this report||
||were:||
||Rev Matthew Lunn (Chairperson)||
||Catherine Simms (Church Secretary)||
||Michael Glynn (Church Treasurer)||
||Irene Bonsu|Daleep Mukarji|
||Edwina “Evadne” Cameron|Jonathan Simms|
||Marion Carden|Brian Simpson|
||Beverley Combes|Majorie “Gill” Simpson|
||Paul Eedle|Joel Stobbs|
||Jeffrey Elmer|David Watson|
||Alexander Laird|Frances Watson|
||Azra Mukarji|Penelope Woods|
||The following trustees resigned during the|year or by 31 August 2025:|
||Sonia Amoako|Deborah Gaitskell|
||Soheila Bakhitari|Theodora Mdingi|
||Beryl Casale|Melanie “Ruth” Stobbs|
||Bella Chibwe||
||The following trustees were appointed from 1 September 2025:||
||Linda Amoah|Charles Jackson|
||Olatundjie Aubee|Rudolph Laryea|
||Jason Copeland|Ruby Milner|
||Lucy Ellis||
## **Circuit Representative**
Barbara Fenning
**Key Management Personnel**
Those in charge of directing, controlling, running and operating the charity on a day to day basis during 2024-25 were, Rev M. Lunn, Church Stewards, (Mr P. Eedle, Ms I. Bonsu, Ms A. Mukarji), Property Steward (Mr B. Simpson), Church Treasurer (Mr M. Glynn), Pastoral Secretary (Ms E. Cameron) & Council Secretary (Ms C. Simms).
_2_
## **MUSWELL HILL METHODIST CHURCH**
## **Annual Report of the Trustees For the year ended 31 August 2025**
**Bankers** Lloyds Bank 149-153 High Road Wood Green London N22 6EF **Independent Examiner** John Helm ACA Tandem Accounting Ltd 17 Heathville Road London N19 3AL
The Trustees submit their annual report and the financial statements of Muswell Hill Methodist Church (“the Church”) for the year ended 31 August 2025. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.
## **1. Structure, Governance & Management**
The Church Council comprises of Trustees, who are elected by Church members, or appointed by the Church Council. They are responsible for making decisions on administrative and financial matters relating to the work of the Church and its premises.
The Church Council as at 31 August 2025 consisted of the Minister together with the Treasurer and Council Secretary appointed by the Council. There were also 23 elected general representatives. There were 3 meetings during the financial year. None of the Trustees received remuneration.
The day-to-day management of the Church is undertaken by a leadership team, which is made up of the Minister, the Treasurer, Property Steward, Council Secretary and several Church members.
The Church also has a number of committees dealing with particular aspects of the Church's work. These are: Worship, Pastoral, Community Development and Outreach, Pre-School Groups, Property and Finance. These committees report regularly to the Church Council, where matters are discussed and approved as appropriate. Between meetings, the Ministers, Treasurer and Property Steward have the authority to make urgent decisions when necessary.
The main parts of the Church’s activities are undertaken by laypersons (volunteers).
## **2. Activities & Public Benefit**
The Church is a vibrant urban multi-ethnic evangelistic congregation with a membership of 149.
The Trustees have given due regard to the Charity Commissions’ guidance on public benefit. During the year the Church continued to carry out the following activities in order to promote the Gospel in the local neighbourhood:
- Sunday Worship
- Children & Youth’s activities
- Bible Study and prayer meeting
- Christian counselling
- Pastoral visits
_3_
## **MUSWELL HILL METHODIST CHURCH**
## **Annual Report of the Trustees For the year ended 31 August 2025**
Since the redevelopment of the ‘North Bank’ part of the building in 2007 as a community centre, this aspect of the Church’s work has grown in size and scope. There are nine rooms of varying sizes, which are used by over 500 people every week. The services operated by Church volunteers include pre-school play activities, a lunch club and a child contact centre. There are thriving Rainbows, Brownies and Rangers groups. In addition, we host a variety of groups who use the premises to provide activities with social, recreational, educational, religious and cultural dimensions.
## **3. Achievements & Performance**
## **Life as a faith community**
We continue to explore and enjoy variety in our worship, especially during the key Christian festivals.
## **Fellowship groups**
Meeting in small groups has been at the heart of Methodism since its inception. This is not only where people share fellowship, and make new friends, but for many it is the prime agent of personal spiritual growth.
## **Community work**
The North Bank site hosts a wide range of activities, ranging from Church-led activities and partnerships running alongside lettings to third parties, happening alongside each other at different times and on different days, using different combinations of rooms.
## **4. Financial Review**
## **4.1 Financial Activity and Financial Position**
The Church is funded by the generous offerings of members and others in attendance, together with lettings income and community grants.
The Statement of Financial Activities and the Balance Sheet can be found on pages 7 to 9. The Church’s financial resources increased by £20,261 during the year (2024: Increased by £35,190). The Balance Sheet shows total funds of £2,941,331 (2024: £2,921,070).
## **4.2 Reserves Policy**
The Trustees have examined the requirements for general reserves and consider, given the nature of the Church’s work, general reserves should be equivalent to cover at least 6 months normal expenditure. At 31 August 2025 the Church had net free reserves of £66,299 (2024: net free reserves of £55,589) as follows:
|**Total Church Funds**
Less: Tangible Fixed Assets
Less: Designated & Restricted Funds
**Free Reserves**
**Free Reserves Requirement:**
6 Month’s Budgeted Routine Expenditure|**2025**
**£**
**2,941,331**
(2,829,797)
(45,235)
66,299
63,000|**2024**
**£**
**2,921,070**
(2,829,868)
(35,613)
55,589
60,000|
|---|---|---|
_4_
## **MUSWELL HILL METHODIST CHURCH**
## **Annual Report of the Trustees For the year ended 31 August 2025**
## **4.3 Restricted Funds**
Restricted funds are monies raised or donated subject to conditions attached to their use. Details of these funds are shown in note 9.
## **4.4 Investment Policy**
The Church currently invests spare funds in an interest bearing bank account.
## **4.5 Grants Policy**
The Church makes grants to support Christian & Missionary endeavours both in the UK and abroad. The policy of the Church is to give grants on the basis that they are subject to annual review and only renewed on the basis of meeting set criteria. Organisations which are regularly supported include the Methodist Church Fund and Methodist Housing Society.
## **5. Plans for Future Periods**
The Church plans to continue with its existing Christian activities, as well as providing charitable support and Christian witness to the wider community. The financial forecast for the 2025-26 financial year is for the church to make an unrestricted funds surplus of approximately £9,000.
## **6. Responsibilities of Trustees for the Financial Statements**
The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.
In preparing those financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles of the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.
The Trustees are responsible for keeping adequate accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the Church’s financial information included in the Church’s website.
## **7. Approval**
The Annual Report of the Trustees was approved by the Church Council on 14 June 2026 and signed on its behalf by:
**Rev. Matthew Lunn (Chairperson) Trustee**
_5_
## **MUSWELL HILL METHODIST CHURCH**
## **Report of the Independent Examiner to the Trustees of Muswell Hill Methodist Church For the year ended 31 August 2025**
I report on the financial statements of Muswell Hill Methodist Church for the year ended 31 August 2025, set out on pages 7 to 19.
This report is made solely to the Trustees in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Church Council those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Trust and the Trustees for my independent examination, for this report, or the opinions I have formed.
## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER**
The Trustees considers that an audit is not required for this year (under section 144(2) of the Act) and that an independent examination is needed.
It is my responsibility to:
- Examine the accounts (under section 145 of the Act);
- To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
- To state whether particular matters have come to my attention.
## **BASIS OF INDEPENDENT EXAMINER’S STATEMENT**
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
## **INDEPENDENT EXAMINER’S STATEMENT**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the church as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **John Helm ACA**
14 June 2026
_6_
## **MUSWELL HILL METHODIST CHURCH**
## **Statement of Financial Activities (SOFA) For the year ended 31 August 2025**
|**Note**
**Income from:**
2
Donations, Legacies & Grants
Other Church Activities
Lettings Income
Investment Income
**Total Income**
**Expenditure on:**
3
Raising Funds
Charitable Activities
**Total Expenditure**
**Net Income/(Expenditure)**
4
Transfer Between Funds
**Net Movement in Funds**
**Total Funds Brought Forward**
**Total Funds Carried Forward**|**Unrestricted**
**Funds**
**2025**
**£**
61,503
9,939
69,496
2,613
**143,551**
12,090
107,594
**119,684**
**23,867**
(13,228)
**10,639**
**2,885,457**
**2,896,096**|**Designated**
**Funds**
**2025**
**£**
-
-
-
-
**-**
-
850
**850**
**(850)**
13,228
**12,378**
**24,294**
**36,672**|**Restricted**
**Funds**
**2025**
**£**
8,288
917
-
-
**9,205**
-
11,961
**11,961**
**(2,756)**
-
**(2,756)**
**11,319**
**8,563**||**Total**
**2025**
**£**
69,791
10,856
69,496
2,613
**152,756**
12,090
120,405
**132,495**
**20,261**
-
**20,261**
**2,921,070**
**2,941,331**|
|---|---|---|---|---|---|
_7_
## **MUSWELL HILL METHODIST CHURCH**
## **Statement of Financial Activities (SOFA) Comparatives for the year ended 31 August 2024**
|**Note**
**Income from:**
2
Donations, Legacies & Grants
Other Church Activities
Lettings Income
Investment Income
**Total Income**
**Expenditure on:**
3
Raising Funds
Charitable Activities
**Total Expenditure**
**Net Income/(Expenditure)**
4
Transfer Between Funds
**Net Movement in Funds**
**Total Funds Brought Forward**
**Total Funds Carried Forward**|**Unrestricted**
**Funds**
**2024**
**£**
80,556
11,098
64,580
1,209
**157,443**
10,452
108,287
**118,739**
**38,704**
(25,000)
**13,704**
**2,871,753**
**2,885,457**|**Designated**
**Funds**
**2024**
**£**
-
-
-
-
**-**
-
706
**706**
**(706)**
25,000
**24,294**
**-**
**24,294**|**Restricted**
**Funds**
**2024**
**£**
11,361
-
-
-
**11,361**
-
14,169
**14,169**
**(2,808)**
-
**(2,808)**
**14,127**
**11,319**|**Total**
**2024**
**£**
91,917
11,098
64,580
1,209
**168,804**
10,452
123,162
**133,614**
**35,190**
-
**35,190**
**2,885,880**
**2,921,070**|
|---|---|---|---|---|
_8_
## **MUSWELL HILL METHODIST CHURCH**
## **Balance Sheet As at 31 August 2025**
|**Note**
**Fixed Assets**
Tangible Assets
5
**Current Assets**
Debtors
6
Cash At Bank And On Hand
7
**Creditors - Amounts Falling Due**
**Within One Year**
8
**Net Current Assets**
**Net Assets**
**Church Funds Represented by:**
Unrestricted Funds
Designated Funds (Unrestricted)
9
**Total Unrestricted Funds**
**Restricted Funds**
9
**Total Funds**
Central Finance Board & Trustees for
Methodist Church Purposes Deposits|**Unrestricted**
**Funds**
**2025**
**£**
2,829,797
49,265
13,357
7,909
70,531
4,232
66,299
**2,896,096**
2,896,096
-
2,896,096
-
**2,896,096**|**Designated**
**Funds**
**2025**
**£**
-
-
36,672
-
36,672
-
36,672
**36,672**
-
36,672
36,672
-
**36,672**|**Restricted**
**Funds**
**2025**
**£**
-
379
8,391
-
8,770
207
8,563
**8,563**
-
-
-
8,563
**8,563**|**Total**
**2025**
**£**
2,829,797
49,644
58,420
7,909|**Total**
**2024**
**£**
2,829,868
45,531
39,417
9,681
94,629
3,427
91,202
**2,921,070**
2,885,457
24,294
2,909,751
11,319
**2,921,070**|
|---|---|---|---|---|---|
|||||115,973
4,439||
|||||111,534||
|||||**2,941,331**
**2,896,096**
**36,672**||
|||||**2,932,768**
**8,563**||
|||||**2,941,331**||
The financial statements were approved by the Trustees on 14 June 2026 and signed on its behalf by:
**Michael Glynn Treasurer**
_9_
## **MUSWELL HILL METHODIST CHURCH**
## **Notes to the Financial Statements For the year ended 31 August 2025**
## **1. Accounting Policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **Basis of accounting**
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at fair value.
The financial statements include all transactions, assets and liabilities for which the Church is responsible in law. They do not include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of Church members.
The Church meets the definition of a public benefit entity under FRS 102.
## **Going Concern**
There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.
## **Income recognition**
Voluntary income and donations (including legacies) are accounted for once the Church has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.
The income from trading activities includes rental income from the letting of Church premises and freehold land and buildings which is accounted for when earned.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Church; this is normally upon notification of the interest paid or payable by the bank.
## **Expenditure recognition**
Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The Church is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Charitable expenditure includes those costs in fulfilling the Church’s principal objects, as outlined in the Report of the Church. These include grants payable and governance costs:
- Grants payable are payments made to third parties in furtherance of the Church’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the Church.
- Governance costs comprise all costs involving the public accountability of the Church and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
_10_
## **MUSWELL HILL METHODIST CHURCH**
**Notes to the Financial Statements For the year ended 31 August 2025**
## **1. Accounting Policies (continued)**
## **Tangible Fixed Assets**
Tangible fixed assets are accounted for as follows:
- The Church land and buildings are stated at historic cost, after the completion of the redevelopment work in 2007. Depreciation is not provided as the estimated residual value is considered to be the same or higher than the carrying value of the property in the accounts.
- The cost of furniture, fittings and equipment, of a value greater than £1,000, less any expected residual value are capitalised and depreciated on a straight-line basis over the effective useful life of the asset, which has been estimated at five years.
## **Debtors**
Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
## **Cash at bank and on hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
## **Fund accounting**
The funds held by the charity are either:
- Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Designated funds - these are funds which have been set aside for a specific project or commitment. The trustees have the power to redesignate funds within designated funds.
- Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
_11_
## **MUSWELL HILL METHODIST CHURCH**
## **Notes to the Financial Statements For the year ended 31 August 2025**
## **2. Income**
|**2. Income**|||||
|---|---|---|---|---|
|Donations & Legacies
Offerings and Donations
Income Tax Reclaimed
Legacies
Grants
Income from Charitable Activities
Children & Social Groups,
Weddings & Funerals
Other Trading Activities
Lettings Income
Investment Income
Interest
**3. Expenditure**
**3a Expenditure on Raising Funds**
Staff Costs: Lettings Manager
Bad Debts|**Unrestricted**
**Funds**
**2025**
**£**
50,261
11,242
-
-
61,503
9,939
69,496
2,613
143,551
**Unrestricted**
**Funds**
**2025**
**£**
12,015
75
12,090|**Designated**
**Funds**
**2025**
**£**
-
-
-
-
-
-
-
-
-
**Designated**
**Funds**
**2025**
**£**
-
-
-|**Restricted**
**Funds**
**2025**
**£**
4,367
379
-
3,542
8,288
917
-
-
9,205
**Restricted**
**Funds**
**2025**
**£**
-
-
-|**Total**
**2025**
**£**
54,628
11,621
-
3,542
69,791
10,856
69,496
2,613
152,756|
|||||**Total**
**2025**
**£**
12,015
75
12,090|
_12_
## **MUSWELL HILL METHODIST CHURCH**
**Notes to the Financial Statements For the year ended 31 August 2025**
## **3b Expenditure on Charitable Activities**
|Circuit Assessment
Church Life & Outreach
Missionary & Charitable Giving
Provision of Office & Support
Provision of Buildings & Facilities
Governance Costs|**Unrestricted**
**Funds**
**2025**
**£**
56,100
7,207
1,644
3,222
38,521
900
107,594|**Designated**
**Funds**
**2025**
**£**
-
850
-
-
-
-
850|**Restricted**
**Funds**
**2025**
**£**
-
8,635
2,982
-
344
-
11,961|**Total**
**2025**
**£**
56,100
16,692
4,626
3,222
38,865
900
120,405|**Total**
**2024**
**£**
55,000
17,096
2,731
3,867
43,568
900
123,162|
|---|---|---|---|---|---|
The expenses of nil (2025: 0) trustees amounted to £nil (2024: 0) in relation to training, travel and subsistence were met during the year.
## **Paid Employees**
|**Unrestricted**
**Funds**
**2025**
**£**
Gross wages, salaries and benefits in kind
23,253
Employer's National Insurance
805
Employer's Annual Allowance
(805)
23,253
Average number of full-time equivalent employees during the year were:|**Designated**
**Funds**
**2025**
**£**
-
-
-
-|**Restricted**
**Funds**
**2025**
**£**
-
-
-
-|**Total**
**2025**
**£**
23,253
805
(805)
23,253|
|---|---|---|---|
||||**2025**
**1**|
These figures exclude the amounts paid to the Methodist Circuit for the minister, who is funded through the Circuit Assessment. No Employee (2024: nil) received emoluments in excess of £60,000 during the year.
_13_
## **MUSWELL HILL METHODIST CHURCH**
**Notes to the Financial Statements For the year ended 31 August 2025**
## **3b Expenditure on Charitable Activities (continued)**
## **Missionary & Charitable Giving**
Included within expenditure on Charitable Activities is the following missionary and charitable giving:
|Giving to Organisations
Action for Children
All We Can
Bible Society
Christian Aid
Freedom From Torture
Leaders of Worship & Preachers Trust
Methodist Housing Society
Toilet Twinning
WaterAid
Gifts to Individuals|**Unrestricted**
**Funds**
**2025**
**£**
-
-
75
-
-
125
150
-
-
350
1,294
1,644|**Designated**
**Funds**
**2025**
**£**
-
-
-
-
-
-
-
-
-
-
-
-|**Restricted**
**Funds**
**2025**
**£**
135
51
-
1,276
435
-
-
120
157
2,174
808
2,982|**Total**
**2025**
**£**
135
51
75
1,276
435
125
150
120
157
2,524
2,102
4,626|**Total**
**2024**
**£**
-
-
75
1,410
-
125
150
-
160
1,920
811
2,731|
|---|---|---|---|---|---|
Gifts to Individuals include travel expenditure on public transport in order to attend Sunday services. This was not reported in the 2024 statutory accounts but the comparative has since been amended to reflect this expenditure.
## **4. Net Income/(Expenditure)**
**----- Start of picture text -----**
2025 2024
This is stated after charging £ £
Depreciation of Owned Assets 1,739 2,024
Independent Examination Fee 900 900
**----- End of picture text -----**
_14_
## **MUSWELL HILL METHODIST CHURCH**
## **Notes to the Financial Statements For the year ended 31 August 2025**
## **5. Tangible Fixed Assets**
|**Cost/valuation**
At 1 September 2024
Additions
Disposals
At 31 August 2025
**Accumulated Depreciation**
At 1 September 2024
Charge For Year
Disposals
At 31 August 2025
**Net Book Value**
At 31 August 2025
At 31 August 2024|**Freehold**
**Land &**
**Buildings:**
**Church**
**£**
2,823,539
-
-
2,823,539
-
-
-
-
2,823,539
2,823,539|**Fixtures,**
**Fittings &**
**Equipment**
**Total**
**£**
**£**
26,375
2,849,914
1,668
1,668
-
-
28,043
2,851,582
20,046
20,046
1,739
1,739
-
-
21,785
21,785
6,258
2,829,797
6,329
2,829,868|
|---|---|---|
The church is built alongside a large Victorian villa named North Bank, situated at 28 Pages Lane, London N10 1PP.
The trustees are responsible for the maintenance of both buildings and a section of the gardens on the North Bank estate.
These buildings were valued on the balance sheet at historic cost, after the completion of the redevelopment work in 2007.
At the date of this report, the buildings are insured at a rebuilding cost of £4,992,115 and the church equipment for a value of £155,472. The properties are under the legal ownership of the Trustees for Methodist Church Purposes.
_15_
## **MUSWELL HILL METHODIST CHURCH**
**Notes to the Financial Statements For the year ended 31 August 2025**
## **6. Debtors**
|**Debtors**
Gift Aid Receivable
Lettings Receivable
Miscellaneous
**Prepayments**
1st Quarter Circuit Assessment
Insurance & Building Maintenance Contracts|**2025**
**£**
15,121
15,860
150
14,025
4,488
49,644|**2024**
**£**
5,681
22,169
-
13,750
3,931
45,531|
|---|---|---|
## **7. Cash at Bank and In Hand**
|Lloyds Current Accounts
Lunch Club Cash Float|**2025**
**£**
7,827
82
7,909|**2024**
**£**
9,490
191
9,681|
|---|---|---|
## **8. Creditors - Amounts Falling Due Within One Year**
|General Creditors
Accruals
Unearned Grant Income|**2025**
**£**
2,051
930
1,458
4,439|**2024**
**£**
2,497
930
-
3,427|
|---|---|---|
_16_
## **MUSWELL HILL METHODIST CHURCH**
**Notes to the Financial Statements For the year ended 31 August 2025**
## **9. Detailed Analysis of Individual Fund Movements**
## **9a For the year ended 31 August 2025**
|**(i) Unrestricted Funds**
General Fund
**(ii) Designated Funds**
Building Reserve Fund
Restarick Remembrance Fund
**Internal Funds Total**
**(iii) Restricted Funds**
**Internal Funds**
Benevolence Fund
Challenge Group
Child Contact Centre
Church Building Improvement Fund
Community Gardens
Flower Remembrance Fund
Muswell Hill Welcomes
**Internal Funds Total**
**Funds Raised for External**
**Organisations**
Action For Children
All We Can
Christian Aid
Freedom From Torture
Toilet Twinning
WaterAid
**External Funds Total**
**Total Restricted Funds**
**(iv) Total Funds**|**At 1**
**September**
**2024**
**£**
**2,885,457**
-
24,294
**24,294**
584
2,406
-
1,042
6,868
-
279
11,179
-
-
20
-
120
-
140
**11,319**
**2,921,070**|**Received**
**£**
**143,551**
-
-
**-**
-
2,142
4,899
-
-
60
30
7,131
135
51
1,256
435
40
157
2,074
**9,205**
**152,756**|**Expenditure**
**£**
**(119,684)**
-
(850)
**(850)**
(500)
(2,545)
(4,765)
(344)
(1,264)
(60)
(309)
(9,787)
(135)
(51)
(1,276)
(435)
(120)
(157)
(2,174)
**(11,961)**
**(132,495)**|**Transfers**
**£**
**(13,228)**
13,228
-
**13,228**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**|**At 31**
**August**
**2025**
**2,896,096**
13,228
23,444
**36,672**
84
2,003
134
698
5,604
-
-
8,523
-
-
-
-
40
-
40
**8,563**
**2,941,331**|
|---|---|---|---|---|---|
## **Notes regarding transfers:**
(i) £13,228 was transferred from the General Fund to the Building Reserve Fund.
_17_
## **MUSWELL HILL METHODIST CHURCH**
**Notes to the Financial Statements For the year ended 31 August 2025**
## **9. Detailed Analysis of Individual Fund Movements (continued)**
## **9b For the year ended 31 August 2024**
|**(i) Unrestricted Funds**
General Fund
**(ii) Designated Funds**
Restarick Remembrance Fund
**(iii) Restricted Funds**
**Internal Funds**
Benevolence Fund
Challenge Group
Child Contact Centre
Church Building Improvement Fund
Community Gardens
Flower Remembrance Fund
Muswell Hill Welcomes
**Internal Funds Total**
**Funds Raised for External**
**Organisations**
Christian Aid
Toilet Twinning
WaterAid
**External Funds Total**
**Total Restricted Funds**
**(iv) Total Funds**|**At 1**
**September**
**2023**
**£**
**2,871,753**
**-**
674
-
-
1,868
10,000
90
1,000
13,632
335
-
160
495
**14,127**
**2,885,880**|**Received**
**£**
**157,443**
**-**
-
3,346
5,470
1,138
137
55
-
10,146
1,095
120
-
1,215
**11,361**
**168,804**|**Expenditure**
**£**
**(118,739)**
**(706)**
(90)
(940)
(5,470)
(1,964)
(3,269)
(145)
(721)
(12,599)
(1,410)
-
(160)
(1,570)
**(14,169)**
**(133,614)**|**Transfers**
**£**
**(25,000)**
**25,000**
-
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**|**At 31**
**August**
**2024**
**2,885,457**
**24,294**
584
2,406
-
1,042
6,868
-
279
11,179
20
120
-
140
**11,319**
**2,921,070**|
|---|---|---|---|---|---|
## **Notes regarding transfers:**
(i) The Church received a generous legacy donation from the Restarick family. The family have requested that the funds be used for Christian outreach and evangelism where possible. The Church council agreed to reclassify this legacy donation as a designated fund and a transfer of £25,000 was made from the General Fund.
_18_
## **MUSWELL HILL METHODIST CHURCH**
## **Notes to the Financial Statements For the year ended 31 August 2025**
## **9. Detailed Analysis of Individual Fund Movements (continued)**
## **Descriptions of the Designated Funds are as follows:**
**(i) Building Reserve Fund:** Funds set aside to cover the cost of major structural repairs or large non-annual maintenance.
**(ii) Restarick Remembrance Fund:** In memory of David & Jennifer Restarick. The family have requested that the funds be used for Christian outreach and evangelism where possible.
## **Descriptions of the Restricted Internal Funds are as follows:**
**(i) Benevolence Fund:** Funded by member donations to enable the minister, at his/her discretion, to grant financial assistance confidentially to people in need.
**(ii) Challenge Group:** This group supports the families and children with special needs, which meet at the Church on Monday mornings.
**(iii) Child Contact Centre** : The Church premises are used every Saturday to provide a neutral meeting place, where children of separated families, referred by the courts or their solicitors, can have contact with one or both parents and their extended families.
**(iv) Church Building Improvement Fund:** Funds raised for window glazing and the installation and ongoing maintenance of a heat pump. The goal is to reduce the church's annual heating costs and its net carbon footprint.
**(v) Community Gardens:** Funded by a Lottery Grant, this project is part of the Muswell Hill Welcomes programme to provide refugees and members of the community the opportunity to grow and pick their own vegetables as well as to cook and eat together. It is hoped that these activities will help reduce loneliness and social isolation and help facilitate better integration into the wider community.
**(vi) Flower Remembrance Fund** : In memory of Christine Marsh, a former member and trustee at Muswell Hill Methodist Church. Her family have requested that donations received in her memory be used to provide flowers at major Church services.
**(vii) Muswell Hill Welcomes:** A joint initiative run by Muswell Hill Methodist Church, Muswell Hill Synagogue and Wightman Road Mosque. All three organisations have worked together to support and help refugees in the local area but in particular the large number of refugees being housed within a hotel in Muswell Hill. Refugee families were able to use the Church kitchen facilities to produce home cooked food. During the year, many refugees have attended Thursday morning drop-ins. This includes a playgroup for children, conversation classes, and a chance to have a cup of tea and a chat.
## **10. Related Party Transactions**
Ms. C. Simms, Church Secretary, was paid £750 during 2024-25 (2024: £600) for being the Church organist.
The Church paid “ARG Garden Design” £1,686 during 2024-25 (2024: £3,958) for providing materials for the Community Garden and also for general gardening services. The company director, Mr P. Argent, is the son of a current Church member.
The Trustees or their partners, donated £27,087 (2024: £20,673) towards the General Fund for the work of the Church during the year.
_19_