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← Walkden Methodist Church

2023-08-31-accounts

Farnworth &Worsley Circuit No 6 3
Minister Rev Sarah Knebel
Church Stewards
Mrs LPAce
Mrs D Winnard
Mrs EV Hancox
Mrs A Bennett
Mrs JTaylor
Mrs E Nelson
MrJ J O' Neill
Mrs S M Poole
Mr A BStribling
Church Secretary Mrs E0 Kennedy
Church Treasurer Mrs M O' Neill

WALKDEN METHODIST CHURCH
TRUSTEES' ANNUAL
REPORT 2023 CONTINUED
Edit
trends		 WALKDEN METHODIST CHURCH
TRUSTEES' ANNUAL
REPORT 2023 CONTINUED
Edit
trends		 WALKDEN METHODIST CHURCH
TRUSTEES' ANNUAL
REPORT 2023 CONTINUED
Edit
trends		 WALKDEN METHODIST CHURCH
TRUSTEES' ANNUAL
REPORT 2023 CONTINUED
Edit
trends
xpenure

Our major cost is in relation to the assessment
paid to the Farnworth 5Worsley Circuit this amounts to approximately
54% ofour total outgoings.
A significant
amount ofthe Circuit Assessment
is used to pay District Assessment,
stipends
and related costs for Ministers
and Circuit Staff. The other expenditure
includes benevolent
fund support,
general
maintenance
ofour buildings,
for example heating,
lighting costs.
Our Church Membership stand at 92.
Fund balances
As at 31August 2023the		 current
Church expenditure
wasf84,679 therefore we hold 7 months'
contingency		 cover.
Which equates to f49,000
Balance Sheet Funds:
Cash in Hand:		 E7,653 -Working Capital includes some funds for the Circuit Assessment
instalment
due 1st September 2023 and day to day running
costs ofthe
Church.
f11,390 -designated
development
fund
—to support,
stimulate
sustainable
growth of the Church, along side growth
maintaining
and investing
in the
environment.
Trustees for Methodist
Purposes deposits		 f71,190 unrestricted
funds of which f49.000contingency
cover.
f22,190 - is held for continuity
in the event oflarge variation of
income, bridge cash flow problems,
maintenance
in line with our 5year
maintenance
plan.
f79,062- restricted
funds held for capital redevelopment
—f52,406
to cover remaining
works included
in our building scheme.
f26,656 remains for future capital redevelopment.
Endowment
Funds		 f49- General funds
Central Finance Board f21,323 unrestricted
funds for emergency
cost items.
f6,758 -designated
funds
—savings for future, longer term, large maintenance
Luncheon Club- projects- more than in the 5year maintenance
programme.
f2,451 -restricted funds to cover the costs of running the Luncheon
Club
outreach
and equipment
for the use ofall users.

St atement o fFina nci al Act ivities (SOFA) fort he year e nded 31Augu st 2023
General Fund Restricted Funds Other Funds Designated Totals this year Previous year
(Unrestricted) (Endownment) (Designated) totals
Incomin
Resources
1 Assessment
or Share
2 Collections/gift
day/gift
aid		 45,608 45,608 43,678
3Interest and Investment
Income		 5,441 515 227 6,183 785
4 Donations 5,105 5,105 3,818
5 Contributions
from Circuit Advance
Funds
6Connexional
Advance
&Priority Fund
distribution
7fund raising income 1,385 1,385 3,332
6Other income, lettings/trading 28,657 101 28,758 22,349
9 Internal
organisations		 2,312 2,312 1,495
1oTotal Incoming Resources 86,196 2,827 328 89,351 75,457
Resources Expended
11Salaries and associated costs 5,200 5,200 5,200
12Circuit Assessment 45,724 45,724 46,180
13Expenditure
on Properly repair/maintenance		 4,343 4,343 7,947
14other expenses 7,353 46 7,399 5,466
15Insurance,
utilities etc		 15,102 15,102 11,823
16Internal
Organisations		 2,505 2,505 2,542
17Depreciation 2,116 2,116 2,473
16Provisions
19Benevolence 2,350 2,350 400
20 Ecumenical
and New Communities
21 Training
22 Professional fees
23Total Resources Expended 82,188 2,551 84,739 82,031
24 Net Incoming Resources 4,008 276 328 4,612 -6,574
25Transfers
between funds
26Sub Total 4,008 276 328 4,612 -6,574
27Gains/losses
-Revalue invest Property		 300,400
26Net investment
in funds		 328 297,426
29Total funds brought forward from last year 2,669,499 81,237 49 17,820 2,768,605 2,471,179
30 Total funds carried forward at end of
year		 2,673,507 81,513 49 18,148 2,773,217 2,768,605
For information
only:		 Money received and passed on to External Organisations
Balance brought forward from last year
Offerings/Gifts
-received for External Organisations
Offerings/Gifts
-passed to External Organisations		 7,435
7,435		 3,085
3,085
Balance still to be paid

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Walkden Methodist Methodist Church
4.
Donations		 Unrestricted Restricted 2023 T tal
o		 2022 Total
(SOFA 2)
Collections L gift Day 36,123 36,123 37,820
Tax credits- gift aid 9,485 9,485 5,858
Total 45,608 45,608 43,678
5. Charitable activities Unrestricted Restricted 2023
Total		 2022
Total
(SOFA 7)
Fun raising income
Fund raising -general funds 1,385 1,385 3,332
Fund raising -designated
Total 1,385 1,385 3332
6.Other Income &Trading
(SOFA 8)		 Unrestricted Restricted 2023Total 2022 Total
f
letting s 24,784 24,784 20,343
cards, fair trade, books etc 2,669 2,669 148
other income 1,204 1,204 1,743
other income desi nated 101 101 115
Total 28,758 28,758 22,349
7. Investment income Unrestricted Restricted 2023Tot
I		 2022 Tot I
(SOFA 3)
Interest:
Central Finance Board 1 692 692 68
CFB2 - designated 227 227 27
TMCP 4,749 515 5,264 690
Total 5,668 515 6,183 785
8. Other Unrestricted Restricted 2Q23 Total 2Q
SOFA 9)
Luncheon
club		 2312 2312 1,495
Total 2312 2312 1,495
Donations(SOFA 4) 2023Total 2022 Total
Donations-
General		 funds 5,105 5,105 3,818
Donations- desi nated funds
Total 5,105 5,105 3,818
TOT INCOME SOFA 2023 86,524 2,827 f89,351 f75,457

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Carrying
(market) value at beginning
ofyear		 300,000 271,000
Add: additions to investments
at cost		 29,000
Less: disposals at carrying value
Net gain on revaluation 29,000
Carrying
(market) value at end ofyear		 300,000 300,000
Debtors and prepayments
Pre paid assessments
Accrued
income
Other debtors
Total debtors and prepayments
Analysis ofcash at bank
Bank balance held in The Royal Bank Of Scotland
Bank balance held in The Royal Bank OfScotland
Bank balance held in (Name of bank)
Total Cash and Bank

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Trade Creditors
Other Creditors
Total Current
Liabilities

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Loans
Source Amount brought New Loan interest Repayable in Balance at
forward borrowings f the year f year end
f f f
Repayment due
Due within 12months
Due after more than 12months

Unrestricted Funds
Fund Name Opening Income Expenditure Transfers Revaluation Closing Balance
Balance gains/losses
Unrestricted Funds 2,687,319 86,524 -82,188 2,691,655
Totals 2,687,319 86,524 -82,188 2,691,655

Fund Name Opening Income Expenditure Transfers Revaluation Closing Balance
Balance gains/losses
Redevelopment Fund 15,489 497 -44 15,942
Sale Of Recreation Ground 35,748 35,748
Bequest 26,607 26,607
ELM Rushton Bequest 197 197
EWolstenholme Bequest 552 18 568
Luncheon
Club		 1,748 2,312 -1,609 2,451
After Hours 896 -896
Totals 81,237 2,827 -2,551 81,513
Endowment Funds
Restricted Fund Name Opening Income Expenditure Transfers Revaluation Closing Balance
Balance gains/losses
E5 M Rushton 49 49
Totals 49

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