|||Page|
|---|---|---|
|Report ofthe Trustees||1to9|
|Independent
Examiner's|Report|10|
|Statement
of Financial|Activities|11to 12|
|Balance Sheet||13|
|Statement
ofCash Flows||14|
|Notes to the Financial Statements||15 to 24|
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|~|The Tudor Club||~|a Punjabi speaking
club and luncheon|group|
|---|---|---|---|---|---|
|~|Seasons Art
—a popular|art class|~|the Sutton Coldfield Wind Orchestra||
|~|a number ofchoirs and|dance groups|~|a "Tiny Talk" baby signing group||
|~|"Mao"music and dancing for toddlers||~|a number ofcounselling
and support|groups|
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|Independent
examiner||||||
|---|---|---|---|---|---|
|P E Smith ACA||||||
|J W Hinks
LLP||||||
|Chartered
Accountants|and|Statutory|Auditors|||
|19Highfield
Road||||||
|Edgbaston||||||
|Birmingham||||||
|West Midlands||||||
|B153BH||||||
|Bankers||||||
|HSBC pic||||Central Finance Board ofthe Methodist|Church|
|67South Parade||||9 Bonhill Street||
|Sutton Coldfield||||London||
|B72 1PA||||EC2A 4PE||
|Investment
manager||||||
|The Trustees for Methodist||Church Purposes||||
|Central
Buildings||||||
|Oldham Street||||||
|Manchester||||||
|M1 1JQ||||||
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##
|||Notes to||Designated||||
|---|---|---|---|---|---|---|---|
|||t"e|General
Fund|Funds|Restricted|Endowment|Total|
|||Accounts|(Unrestricted)|(Unrestricted)|Funds|Funds|2023|
||||f|f|f|f|f|
|Income||||||||
|Offerings|||61,447||||61,447|
|Legacies|||1,027||||1,027|
|Donations
and grants|||||715||715|
|Gift Aid|||14,221||4||14,225|
|Interest and investment|income||2,618|||612|3,230|
|Income from investment|properties||9,540||||9,540|
|Internal
organisations|||5,680||||5,680|
|Other charitable
income|||73,723||||73,723|
|Total income|||168,256||719|612|169,587|
|Expenditure||||||||
|Circuit assessment
or share|||67,203||||67,203|
|Grants and donations|||1,243||||1,243|
|Property maintenance|||17,953||14,448||32,401|
|Insurance,
utilities etc.|||26,043||||26,043|
|Office expenses|||6,832||||6,832|
|Other expenditure|||34,545||20||34,676|
|internal
organisations|||4,993||||4,993|
|Total charitable expenditure|||158,812||14,468|111|173,391|
|(Losses)/gains
on monetary||||||||
|investments||10||||(gog)|(9o9)|
|Gains/(losses)
on investment||||||||
|properties||||||||
|Net (expenditure)
/income|||9,444||(13,749)|(408)|(4,713)|
|Transfers between
funds|||(1,275)||1,275|||
|Other gains/(losses)||||||||
|Net movementin
funds|||8,169||(12,474)|(408)|(4,713)|
|Total funds brought
forward||18|69,298|6,000|46,142|38,993|160.433|
|Total funds carried forward||18|77,467|6,000|33,668|38,585|155,720|
##
|||Notes to||Designated||||
|---|---|---|---|---|---|---|---|
||||General
Fund|Funds|Restricted|Endowment|Total|
|||Accounts|(Unrestricted)|(Unrestricted)|Funds|Funds|2022|
||||E|E||E|E|
|Income||||||||
|Offerings|||64,810||||64,810|
|Legacies|||97||||97|
|Donations
and grants|||8,538||1,562||10,100|
|Gift Aid|||16,526||251||16,777|
|Interest and investment|income||715|||163|878|
|Income from investment|properties||9,540||||9,540|
|Internal
organisations|||4,935||||4,935|
|Other charitable
income|||54,813||||54,813|
|Total income|||159,974||1,813|163|161,950|
|Expenditure||||||||
|Circuit assessment
or share|||64,309||||64,309|
|Grants and donations|||3,045||||3,045|
|Property
maintenance|||10,337||(1,867)||8,470|
|Insurance,
utilities etc.|||34,976||||34,976|
|Office expenses|||7,081||||7,081|
|Other expenditure|||50,108||25|115|50,248|
|Internal
organisations|||4,057||||4,057|
|Total charitable
expenditure|||173,913||(1,842)|115|172,186|
|(Losses)/gains
on monetary||||||||
|investments||10||||(1,540)|(1540)|
|Gains/(losses)
on investment||||||||
|properties||||||||
|Net (expenditure)
/income|||(13,939)||3,655|(1,492)|(11,776)|
|Transfers between
funds||||||||
|Other gains/(losses)||||||||
|Net movement
in funds|||(13,939)||3,655|(1,492)|(11,776)|
|Total funds brought
forward||18|83,237|6,000|42,487|40,485|172,209|
|Total funds carried forward||18|69,298|6,000|46,142|38,993|160,433|
##
|||Notes to||Designated|||||
|---|---|---|---|---|---|---|---|---|
||||General
Fund|Funds|Restricted|Endowment|Total|Total|
|||accounts|(unrestricted)|(Unrestricted)|Funds|Funds|2023|2022|
||||E|f|E|E|E|E|
|Fixed Assets|||||||||
|Church
building
and other property|||||||||
|Investment
properties|||||||||
|Investments||||||38,585|38,585|38,993|
|Total Fixed Assets||||||38,585|38,585|38,993|
|Current Assets|||||||||
|Debtors and prepayments||12|18,359||||18,359|26,442|
|Loans by the Church|||||||||
|Investments
with TMCP|||||||||
|Central
Finance Board Deposits|||51,780|6,000|15,000||72,780|37,814|
|Cash at Bank and in hand|||14,220||18,668||32,888|58,982|
|Total Current Assets|||84,359|6,000|33,668||124,027|123,238|
|Current
Liabilities|||||||||
|Creditors (due in under 1year)||15|6,892||||6,892|1,798|
|Grants payable
within 2023-24|||||||||
|Total Current Liabilities|||6,892||||6,892|1,798|
|Net Current Assets/(liabilities)|||77,467|6,000|33,668||117,135|121,440|
|Long Term Liabilities|||||||||
|(due after more than one year)|||||||||
|Grants payable after 2023-24|||||||||
|Loans to the Church|||||||||
|Net|Assets||77,467|6,000|33,668|38,585|155,720|160,433|
|Funds ofthe Church|||||||||
|General
Fund (Unrestricted)||16.1|77,467||||77,467|69,298|
|Designated
Funds (Unrestricted)||16.2||6,000|||6,000|6,000|
|Total Unrestricted|Funds||77,467|6,000|||83,467|75,298|
|Restricted
Funds||17|||33,668||33,668|46,142|
|Endowment
Funds||17||||38,585|38,585|38,993|
|Total|Funds||77,467|6,000|33,668|38,585|155,720|160,433|
##
||||||||Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
|Cash from operating
activities|||||||||
|New cash (used)/generated
in operating||activities|||||(3,898)|(34,750)|
|Cash flows from investing
activities|||||||||
|Dividends,
interest and rents from investments|||||||12,770|10,418|
|Proceeds from the sale of property,|plant|and|equipment||||||
|Purchase of property,
plant and equipment|||||||||
|Purchase of intangible
assets|||||||||
|Proceeds from the sale of investments|||||||||
|Purchase of investments|||||||||
|Other|||||||||
|Net cash provided
by investing
activities|||||||12,770|10,418|
|Cash flows from financing
activities|||||||||
|New borrowings|||||||||
|Repayment
of borrowings|||||||||
|Net cash used in financing
activities|||||||||
|Change
in cash and cash equivalents|in the reporting|||period|||8,872|(24,332)|
|Cash and cash equivalents
at the beginning
of|||the reporting||period||96,796|121,128|
|Cash and cash equivalents
at the end of||the reporting||period|||105,668|96,796|
|Reconciliation
of net income to net cash flow from||||o eratin||activities|||
|Net (expenditure)/income
for the|reporting||period||||||
|(as per statement
offinancial
activities)|||||||(4,713)|(11,776)|
|Adjustments
for:|||||||||
|Depreciation
and amortisation
charges|||||||||
|Profit on the sale offixed assets|||||||||
|Loss on the sale offixed assets|||||||||
|Losses/(gains)
on investments|||||||408|1,492|
|Dividends,
interest
and rents from|investments||||||(12,770)|(10,418)|
|Decrease/(increase)
in stocks|||||||||
|Decrease / (increase)
in debtors|||||||8,083|(7,452)|
|Increase / (decrease)
in creditors|||||||5,094|(6,596)|
|Net cash used in operating
activities|||||||(3,898)|(34,750)|
|Anal
sis ofcash and cash e uivalent|||||||||
|Cash in hand|||||||32,888|37,814|
|Short term deposit (less than 3 months)|||||||72,780|58,982|
|Total cash and cash equivalents|||||||105,668|96,796|
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|ises out to bo|th Church|groups and the wider community.|This generated
income as follows:||
|---|---|---|---|---|
||||2023|2022|
||||E|E|
|Room lettings|||69,090|51,410|
|Weddings,
Baptisms &||Funerals|3,473|2,640|
|Job Retention|Scheme|||273|
|Miscellaneous|income||1,160|490|
|Total Other Charitable||Income|73,723|54,813|
##
|s salaries paid to tw|o (2|019-20|:t|wo) employees
were as follows|:||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||f|E|
|Gross pay|||||29,674|27,053|
|Employer's
National|Insurance||contributions||2,335|2,121|
|Less: Employment
Allowance|||||(2,335)|(2,121)|
|Employer's
pension|contributions|||to defined|||
|contribution
schemes|||||1,490|1,380|
|Apprenticeship
levy|||||129|118|
|Total staff costs|||||31,293|28,551|
|Total weekly contractual||hours|for 2 staff||42|42|
##
##
|perty mainten|an|ce|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
|Maintenance|of|Church|and Halls||16,007|7,750|
|Maintenance|of|Church|Cottage||1,788|2,587|
|Property Maintenance|||(General Fund)||17,795|10,337|
|Hall Development||Project (Restricted||Fund)|14,448|(1,867)|
|Total Property|Maintenance||||32,243|8,470|
##
||||||2023|2022|
|---|---|---|---|---|---|---|
||||||f|f|
||Printing,
postage and stationery||||397|1,223|
||Telephone
and broadband||||427|357|
||Staffing and expenses||||4,560|4,108|
||Bank charges||||608|553|
||Examiner's
fees||||840|840|
||Total charge to General|Fund|||6,832|7,081|
|9|Other expenditure||||||
||||||2023|2022|
|||||||f|
||Church activities||||2,338|1,444|
||Caretaker / Cleaning Costs||||29,843|25,571|
||Contribution
to the Connexion||Pension|Reserve Fund||20,500|
||Choir and music costs||||2,364|2,593|
||Total charged to General|Fund|||34,545|50,108|
||Other (charged to Restricted||Fund)||20|25|
||Other (charged to Endowment||Funds)||111|115|
||Total||||34,676|50,248|
##
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|Debtors were|mad|e up as follows:|||
|---|---|---|---|---|
||||2023|2022|
||||E||
|Trade debtors|||795||
|Prepayments|and|accrued income|||
|Gift Aid tax and VAT receivable|||5,163|12,556|
|Circuit assessment||paid in advance|6,048|5,449|
|Insurance
paid|in|advance|5,983|5,601|
|Pre-paid gas||||1,121|
|Room lettings|||370|1,715|
|Total (net)|||18,359|26,442|
##
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||||2023f|2022f|
|---|---|---|---|---|
|Creditors:|||||
|Bank charges|||13||
|Building repairs 5|maintenance||5,475|300|
|Utilities|||564|658|
|Audit and examiner's||fee|840|840|
|Total|||6,892|1,798|
|Accruals:|||||
|PAYE and pension|contributions||||
|Taxation and Social||Security|||
|Total|||6,892|1,798|
##
|Maturity
analysis o|fbasic financial|instruments|instruments||||||
|---|---|---|---|---|---|---|---|---|
|||Accrued at||||Accrual made|Accrued at||
|||1Sept|2022|Paid in|year|In year|31Aug|2023|
|||f||f||f|f||
|Trade creditors|||||||||
|Bank charges||||||13||13|
|Building repairs and|maintenance||300|||5,175||5,475|
|Utilities|||658||(658)|564||564|
|Audit and examiner's|fee||840||(840)|840||840|
|Taxation and Social|Security||||||||
|Total|||1,798||(1,498)|6,592||6,892|
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|||Balance at|income|Expenditure|Transfers|Gains/|Balance at|
|---|---|---|---|---|---|---|---|
|Fund||01-Sep-2022
f|f|f|f|Losses
f|31-Aug-2023
f|
|General
Fund||69,298|168,256|(158,812)|(1,275)||77,467|
|Property
Maintenance||6,000|||||6,000|
|(Designated)||||||||
|Total unrestricted|funds|75,298|168,256|(158,812)|(1,275)||83,467|
|Church Development|Project|38,781|19|(14,448)|||24,352|
|Organ
Fund|||700||1,275||1,975|
|Capital
Fund||7,300|||||7,300|
|Small Funds (&f500each)||61||(20)|||41|
|Total restricted|funds|46,142|719|(14,468)|1,275||33,668|
|Capital
Fund||17,249|550|(49)||15|17,765|
|CTAvery —Trust A||4,306|12|(12)||(183)|4,123|
|C TAvery —Trust B||1,722|5|(5)||(73)|1,649|
|Samuel
A Wood Trust||15,716|45|(45)||(668)|15,048|
|Total endowment|funds|38,993|612|(111)||(909)|38,585|
|Total Funds||160,433|169,587|(173,3911||(909)|155,720|
##
|paratives
for moveme|nt
in fun|ds||||||
|---|---|---|---|---|---|---|---|
|||Balance at|Income|Expenditure|Transfers|Gains/|Balance at|
|Fund||01-Sep-2021
f|f|f|f|Losses
f|31-Aug-2023
f|
|General
Fund||83,237|159,974|(173,913)|||69,298|
|Property
Maintenance||6,000|||||6,000|
|(Designated)||||||||
|Total unrestricted|funds|89,237|159,974|(173,913)|||75,298|
|Church
Development|Project|35,101|1,813|1,867|||38,781|
|Organ
Fund||||||||
|Capital
Fund||7,300|||||7,300|
|Small Funds (&f500each)||86||(2S)|||61|
|Total restricted|funds|42,487|1,813|1,842|||46,142|
|Capital
Fund||17,283|97|(49)||(82)|17,249|
|CTAvery —Trust A||4,594|111|(111)||(288)|4,306|
|CTAvery —Trust B||1,838|45|(45)||(116)|1,722|
|Samuel
A Wood Trust||16,770|407|(407)||(1,054)|15,716|
|Total endowment|funds|40,485|660|(612)||(1,540)|38,993|
|Total Funds||172,209|162,447|(172,683)||(1,540)|160,433|
|||Balance at|Income|Expenditure|Transfers|Gains/|Balance at|
|---|---|---|---|---|---|---|---|
|Fund||01-Sep-2021
f|f|f|f|Losses
f|31-Aug-2023
f|
|General
Fund||83,237|328,230|(332,725)|(1,275)||77,467|
|Property
Maintenance||6,000|||||6,000|
|(Designated)||||||||
|Total unrestricted|funds|89,237|328,230|(332,725)|(1,275)||83,467|
|Church Development||35,101|1,832|(12,581)|||24,352|
|project||||||||
|Organ
Fund|||700||1,275||1,975|
|Capital
Fund||7,300|||||7,300|
|Small Funds (&f500 each)||86||(45)|||41|
|Total restricted|funds|42,487|2,532|(12,626)|1,275||33,668|
|Capital
Fund||17,283|647|(98)||(67)|17,765|
|C TAvery —Trust A||4,594|123|(123)||(471)|4,123|
|CTAvery —Trust B||1,838|50|(50)||(189)|1,649|
|Samuel A Wood Trust||16,770|452|(452)||(1,722)|15,048|
|Total endowment|funds|40,485|1,272|(723)|-|(2,449)|38,585|
|Total Funds||172,209|332,034|(346,0741||(2,449)|155,720|