Charity registration number: 1130745
## Bolton Methodist Mission
Annual Report and Financial Statements
for the Year Ended 31 August 2024
## **Bolton Methodist Mission**
## **Contents**
|Reference and Administrative Details|1 to 2|
|---|---|
|Trustees' Report|3 to 6|
|Statement of Trustees' Responsibilities|7|
|Independent Examiner's Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Cash Flow Statement|11|
|Notes to the Financial Statements|12 to 25|
## **Bolton Methodist Mission**
## **Reference and Administrative Details**
## **Trustees**
Dr Katie Hannah Barnes
Mr Christian Baker Mr Neil Starkey Reverend Darren Garfield, resigned 31/08/2024 Mrs Christine Freda Cresswell Mrs Elaine Fletcher-Cowen Mrs Christine Heppolette Mrs Carole Pilkington, resigned 31/08/2024 Mr Peter Grahame Mills, resigned 31/08/2024 Mrs Susan Patricia Marshall Mrs Ellen Shirley Starkey
Mr Geoffrey Alan Webster BSC DIP ED Miss Rebekah Susan Mary Fairhurst
Mrs Dawn Thornber
Mr Victor Stoddart Williams BA MSc MBA Mr Robert Hamilton Marshall
Mr Kerry Heppolette
Mrs Thelma Halliwell, resigned 31/08/2024 Mrs Diana Mary Bradley Mrs Kathleen Mary Webster Reverend Brian Tomkins
Mr David Tomlinson
Mr Robert Bradley
Mrs Pamela Jackson Green
Mrs Jill Orrell
Mrs Margaret Foster
Mr Zhoobin Taliee, (appointed 01/09/2024) Rev Alan Raymond Bradley, (appointed 01/09/2024) Rev Paul Martin, (appointed 01/09/2024) Revd Dr James N Tebbutt, (appointed 01/09/2024)
**Charity Registration Number**
1130745
Page 1
## **Bolton Methodist Mission**
## **Reference and Administrative Details**
**Principal Office** 37 Knowsley Street Bolton BL1 2AS **Independent Examiner** The Moffatts Partnership LLP Suite 1.1, 1st Floor, Jackson House Sibson Road Sale M33 7RR
Page 2
## **Bolton Methodist Mission**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2024.
Bolton Methodist Mission operates from the Victoria Buildings, which includes the Victoria Hall, and the Walker Memorial Building, which continue a Methodist tradition on this site dating back to 1776 and the days of Methodist founder John Wesley himself, who visited the Ridgway Gates Chapel on a number of occasions.
The Victoria Hall and buildings were first imagined in 1848 at a meeting held at the Temperance Hall in Bolton, where an 1800-seater hall was proposed. The design later took on the ideas of the forward movement, that the buildings should incorporate shops and other rooms for hire which would support the congregational giving to maintain the building and the mission work of the church.
The Victoria Hall itself was designed in the style of a theatre to appeal to the ordinary person in the street and make them more at ease than in a traditional church setting. Concerts and Film shows were held in the hall, often on a Saturday, and during the show a representative of the Church invited the audience to attend the Church service the following day, and many indeed did.
Throughout the history of Bolton Methodist Mission, the aims and objectives of the organisation have been in line with the aims of the Methodist Church but also to seek to serve the people of Bolton in partnership with others. This has resulted in the buildings being used as a community hub for various charitable and community social activities.
## **Objectives and activities**
## _**Objects and aims**_
The Methodist Church is regulated by the Methodist Church Act of 1976.
- Provision of public worship open to all
- The teaching and promotion of Christianity as a way of life through worship and other events
- Provision of pastoral care to those who require it
- To advance the education of the public in the knowledge and appreciation of the heritage of Bolton by the preservation of the building known as the Victoria Hall and the Walker Memorial building.
- To promote community development in an area of social and economic deprivation by promoting urban regeneration in the particular area of Bolton.
- The creation of training and employment opportunities by the provision of workspace, buildings, and/or land for use on favourable terms;
- The maintenance, improvement or provision of public amenities;
- The provision of recreational facilities for the public at large or those who by reason of youth, age, infirmity financial hardship or social and economic circumstances have need of such facilities
- Mission to the local community by provision of a safe space
- Good stewardship of resources
## _**Objectives, strategies and activities**_
In addition to the charitable activities of our own organisation, we host a number of tenant charitable organisations including: The Destitution Project, Bolton Symphony Orchestra, The Simeon Counselling Centre, BSURF, Third Space, The Light Music Society and various other short-term tenants.
Page 3
## **Bolton Methodist Mission**
## **Trustees' Report**
## _**Public benefit**_
The Trustees ensure they continue to carry out the charities objectives for the public benefit and that their activities beneficially impact on society. All of the Charities activities have a beneficial impact on society. In setting our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
Worship services are held every Sunday in the Walker Suite, with services led by a range of visiting preachers and congregational own arrangements. Additional services and meetings are held by the French speaking Ephrata Church and Patchwork group. Our Sunday school continues to support a handful of children with their activities, and this year sent a small number to the 3generate youth conference. Our pioneer missioner also established a new toddler group known as Little Fishes. Pastoral care continues to be shown for those in need in our congregation or to those known to us.
Various other charitable organisations continue to use parts of our buildings, which our trustees and congregation support also. We also support various charitable and cultural organisations within the town centre and further afield including Bolton Town Centre Chaplaincy, Derian House Children’s Hospice, Christian Aid and Phakamisa in Pine Town South Africa.
Our buildings were used for a number of Arts and Cultural activities during the year including concerts by Bolton Symphony Orchestra, Eagley Band, The Black Dyke Band, Schools concerts and the Handsong Choir, together with Pantos and tribute acts. The buildings were also involved in the filming for a number of TV series including “A Gentleman in Moscow” featuring Ewan MacGregor.
The wide range of activities and those participating in them or watching them, support our aims of promoting Christian values though worship, teaching and support for those in need, using our resources to support the local community.
Page 4
## **Bolton Methodist Mission**
## **Trustees' Report**
## **Financial review**
Incoming resources for the year amounted to £301,075 (2023 - £333,449)
Charitable activities decreased slightly to £222k from £231k in 2023
Donations and legacies reduced in comparison to the previous year as the final portion of a large legacy fell in the previous year.
Total expenditure for the year totalled £353,673 (2023 – £429,083). Costs reduced compared to the previous year with property and legal fees the main areas of difference.
The overall results for the year are a deficit of £(52,528) (2023 - £(95,659))
The total reserves of the charity at 31 August 2024 are £249,914 (2023 - £302,441)
The unrestricted reserves are £189,193 (2023 – £238,664) and the restricted reserves are £36,828 (2023 - £41,065)
Permanent endowment funds amounted to £23,893 (2023 - £22,713)
## _**Policy on reserves**_
The policy on reserves is to ensure that there are sufficient reserves to enable activities to continue and to maintain sufficient funds to cover the payment of salaries and utilities for a period of six months. The reserves held at the period end fulfil this policy.
## _**Funds in deficit**_
There are no funds in deficit.
## _**Principal funding sources**_
The main sources of funds to the charity are congregational giving, lettings, grant funding, and the hosting of concerts and events.
## **Plans for future periods**
## _**Aims and key objectives for future periods**_
To continue to maintain the buildings to ensure that the objectives and aims of the charity and it’s mission in the town centre of Bolton can continue.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is governed by a Deed of Union (1932) and the Methodist Church Act (1976).
Page 5
## **Bolton Methodist Mission**
## **Trustees' Report**
## _**Organisational structure**_
Our situation in relation to the Methodist Church is a little unusual. Most churches are part of a wider grouping, a circuit. Our Church, Victoria Hall, is a one church circuit, Bolton Mission Circuit.
Our Registered Charity Name is Bolton Methodist Mission, but the trustees wish for this to be changed to reflect the name of the church and therefore in the year 2024-25 this will be changed from Bolton Methodist Mission to Victoria Hall, Bolton.
For several years there have been discussions regarding the operational and legal structures that the charity operates within. Taking into account advice on accounting and governance matters which were then confirmed with our legal advisers, that a separate trading company would not be a viable option, the Church council resolved to maintain the existing structure.
During the year the Church and Circuit were part of the Bolton & Rochdale District, however from the start of September 2024 a new North West England District will take over this role.
In line with Methodist Church policy we ensure that individuals have necessary DBS clearance and have undergone necessary training. Outside organisations using the building must also have a safeguarding policy and are required to comply with those of the Methodist Church.
The annual report was approved by the trustees of the charity on 8 July 2025 and signed on its behalf by:
.........................................
Revd Dr James N Tebbutt
Chair of Trustees and Superintendent Minister (2024-25)
Page 6
## **Bolton Methodist Mission**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities 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 period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material 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 charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. 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 corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on 8 July 2025 and signed on its behalf by:
.........................................
Revd Dr James N Tebbutt
Chair of Trustees and Superintendent Minister (2024-25)
Page 7
## **Bolton Methodist Mission**
## **Independent Examiner's Report to the trustees of Bolton Methodist Mission**
I report to the trustees on my examination of the accounts of Bolton Methodist Mission for the year ended 31 August 2024.
## **Responsibilities and basis of report**
As the charity trustees of Bolton Methodist Mission you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Bolton Methodist Mission's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since Bolton Methodist Mission's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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 Bolton Methodist Mission 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 accounting 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 Saxon F.C.A Institute of Chartered Accountants in England and Wales
The Moffatts Partnership LLP Suite 1.1, 1st Floor, Jackson House Sibson Road Sale M33 7RR
8 July 2025
Page 8
## **Bolton Methodist Mission**
## **Statement of Financial Activities for the Year Ended 31 August 2024**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Investment income
4
Other income
5
Total income
**Expenditure on:**
Charitable activities
6
Total expenditure
Gains/losses on investment
assets
Net (expenditure)/income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
16|**Unrestricted**
**funds**
**£**
72,976
221,859
1,154
-
295,989
(345,460)
(345,460)
-
(49,471)
(49,471)
238,664
189,193|**Restricted**
**funds**
**£**
3,914
-
-
-
3,914
(8,151)
(8,151)
-
(4,237)
(4,237)
41,065
36,828|**Endowment**
**funds**
**£**
-
-
1,172
-
1,172
(62)
(62)
70
1,180
1,180
22,713
23,893|**Total**
**2024**
**£**
76,890
221,859
2,326
-
301,075
(353,673)
(353,673)
70
(52,528)
(52,528)
302,442
249,914|**Total**
**2023**
**£**
92,903
231,369
1,407
7,770|
|---|---|---|---|---|---|
||||||333,449|
||||||(429,083)|
||||||(429,083)
(25)|
||||||(95,659)|
||||||(95,659)
398,100|
||||||302,441|
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 16.
The notes on pages 12 to 25 form an integral part of these financial statements. Page 9
## **Bolton Methodist Mission**
## **(Registration number: 1130745) Balance Sheet as at 31 August 2024**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Debtors
13
Cash at bank and in hand
14
**Creditors: Amounts falling due within one year**
15
**Net current assets**
**Net assets**
**Funds of the charity:**
**Endowment funds**
**Restricted income funds**
Restricted funds
16
**Unrestricted income funds**
Unrestricted funds
**Total funds**
16|**2024**
**£**
31,414
16,308
230,486
246,794
(28,294)
218,500
249,914
23,893
36,828
189,193
249,914|**2023**
**£**
32,902
31,080
264,933|
|---|---|---|
|||296,013
(26,474)|
|||269,539|
|||302,441|
|||22,713
41,065
238,663|
|||302,441|
The financial statements on pages 9 to 25 were approved by the trustees, and authorised for issue on 8 July 2025 and signed on their behalf by:
.........................................
Revd Dr James N Tebbutt Trustee
The notes on pages 12 to 25 form an integral part of these financial statements. Page 10
## **Bolton Methodist Mission**
## **Cash Flow Statement for the Year Ended 31 August 2024**
|**Note**
**Cash flows from operating activities**
Net cash expenditure
**Adjustments to cash flows from non-cash items**
Depreciation
Investment income
**Working capital adjustments**
Decrease in debtors
13
Increase/(decrease) in creditors
15
Net cash flows from operating activities
**Cash flows from investing activities**
Interest received
Acquisitions of tangible assets
Net cash flows from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 September
Cash and cash equivalents at 31 August|**2024**
**£**
(52,528)
4,742
(2,326)
(50,112)
14,772
1,821
(33,519)
2,326
(3,254)
(928)
(34,447)
264,933
230,486|**2023**
**£**
(95,659)
4,414
(1,407)|
|---|---|---|
|||(92,652)
17,303
(5,064)|
|||(80,413)|
|||1,407
(8,853)|
|||(7,446)|
|||(87,859)
352,792|
|||264,933|
All of the cash flows are derived from continuing operations during the above two periods.
The notes on pages 12 to 25 form an integral part of these financial statements. Page 11
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Bolton Methodist Mission meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Interest is recognised on a receivable basis.
## _**Charitable activities**_
Income from charitable activities is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
Page 12
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
All resources expended are inclusive of irrecoverable VAT.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £100.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Page 13
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class Depreciation method and rate** Leasehold Improvements 0% straight line basis Office and computer equipment 25% reducing balance basis Fixtures and Fittings 15% straight line basis
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method
Page 14
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Permanent endowment funds are those where the capital must remain intact, and the Church Council only have access to the income. The income may be restricted to a particular purpose or available to the Church Council for their general purposes.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## **Financial instruments**
## _**Classification**_
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
Page 15
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## _**Recognition and measurement**_
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Legacies
Gift aid reclaimed
Grants, including capital grants;
Grants from other charities
Regular giving and capital donations|**Unrestricted**
**funds**
**General**
**£**
38,380
325
11,363
18,115
4,793
72,976|**Restricted**
**funds**
**£**
654
-
-
3,260
-
3,914|**Total**
**2024**
**£**
39,034
325
11,363
21,375
4,793
76,890|**Total**
**2023**
**£**
48,991
663
6,848
31,363
5,038|
|---|---|---|---|---|
|||||92,903|
Page 16
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **3 Income from charitable activities**
|Lettings income
Shop Rent/Additional services
Box office fees
Rent income - other
Heritage Tours
Concert Refreshments
Events Own
**4**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
**5**
**Other income**
Insurance claims|**Unrestricted**
**funds**
**General**
**£**
1,154|**Unrestricted**
**funds**
**General**
**£**
158,533
41,305
2,748
11,100
161
6,213
1,799
221,859
**Endowment**
**funds**
**Permanent**
**£**
1,172|**Total**
**2024**
**£**
158,533
41,305
2,748
11,100
161
6,213
1,799
221,859
**Total**
**2024**
**£**
2,326
**Total**
**2024**
**£**
-|**Total**
**2023**
**£**
183,379
26,634
3,222
11,050
715
4,699
1,670|
|---|---|---|---|---|
|||||231,369|
|||||**Total**
**2023**
**£**
1,407|
|||||**Total**
**2023**
**£**
7,770|
Page 17
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **6 Expenditure on charitable activities**
|Circuit Assessment
Staff costs
Property costs
Miscellaneous expenses
Music, refreshments, catering
Travel expenses
Printing, postage and
stationery
Advertising
Licenses and subscriptions
Heritage archives
TMCP charges
Bank Charges
Bad debt write off
Governance costs
Depreciation|**Unrestricted**
**funds**
**General**
**£**
16,142
121,669
151,425
3,231
7,040
3,735
8,870
133
3,087
292
499
269
395
23,931
4,742
345,460|**Restricted**
**funds**
**£**
-
-
418
5,896
1,556
-
-
122
159
-
-
-
-
-
-
8,151|**Endowment**
**funds**
**Permanent**
**£**
-
-
-
-
-
-
-
-
-
-
62
-
-
-
-
62|**Total**
**2024**
**£**
16,142
121,669
151,843
9,127
8,596
3,735
8,870
255
3,246
292
561
269
395
23,931
4,742
353,673|**Total**
**2023**
**£**
21,931
115,488
209,364
4,129
5,768
7,688
9,533
1,130
1,756
36
559
165
200
46,922
4,414|
|---|---|---|---|---|---|
||||||429,083|
## **7 Analysis of governance and support costs**
## **Governance costs**
|Independent examiner fees
Examination of the financial statements
Legal fees
Other governance costs|**Unrestricted**
**funds**
**General**
**£**
3,630
8,400
11,901
23,931|**Total**
**2024**
**£**
3,630
8,400
11,901
23,931|**Total**
**2023**
**£**
3,456
32,754
10,712|
|---|---|---|---|
||||46,922|
Page 18
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **8 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
## **9 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs
Other staff costs|**2024**
**£**
112,736
5,230
3,169
534
121,669|**2023**
**£**
103,722
6,187
3,863
1,716|
|---|---|---|
|||115,488|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|Circuit Staff
Hall Staff
Housekeeping
Music|**2024**
**No**
1
1
1
1
4|**2023**
**No**
1
1
1
1|
|---|---|---|
|||4|
3 (2023 - 3) of the above employees participated in the Defined Contribution Pension Schemes.
Contributions to the employee pension schemes for the year totalled £3,169 (2023 - £3,863).
No employee received emoluments of more than £60,000 during the year
Page 19
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **10 Independent examiner's remuneration**
|**10 Independent examiner's remuneration**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Examination of the financial statements|3,630|3,456|
## **11 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **12 Tangible fixed assets**
|**Cost**
At 1 September 2023
Additions
At 31 August 2024
**Depreciation**
At 1 September 2023
Charge for the year
At 31 August 2024
**Net book value**
At 31 August 2024
At 31 August 2023
**13 Debtors**
Trade debtors
Accrued income
Other debtors|**Land and**
**buildings**
**£**
15,108
-||**Furniture and**
**equipment**
**£**
26,769
3,254||**Total**
**£**
41,877
3,254
45,131
8,975
4,742
13,717
31,414
32,902
**2023**
**£**
4,163
23,363
3,554|
|---|---|---|---|---|---|
||15,108||30,023|||
||-
-||8,975
4,742|||
||-||13,717|||
||15,108||16,306|||
||15,108||17,794|||
||||**2024**
**£**
4,945
11,363
-
16,308|||
||||||31,080|
Page 20
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **14 Cash and cash equivalents**
|**14 Cash and cash equivalents**|||
|---|---|---|
|Cash on hand
Cash at bank
Short-term deposits
**15 Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals|**2024**
**£**
137
185,893
44,456
230,486
**2024**
**£**
2,596
20,831
4,867
28,294|**2023**
**£**
150
220,840
43,943|
|||264,933|
|||**2023**
**£**
2,176
13,358
10,940|
|||26,474|
Page 21
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **16 Funds**
|**Unrestricted funds**
**_General_**
General Funds
**_Designated_**
Gift Fund
**Total unrestricted funds**
**Restricted funds**
Pioneer Missioner
Walker Fund
Heritage Fund
**Total restricted funds**
**Endowment funds**
**_Permanent_**
TMCP - Permanent
Endowment
**Total funds**|**Balance at**
**1**
**September**
**2023**
**£**
235,663
3,000
238,663
37,768
3,091
206
41,065
22,713
302,441|**Incoming**
**resources**
**£**
295,989
-
295,989
3,914
-
-
3,914
1,172
301,075|**Resources**
**expended**
**£**
(345,459)
-
(345,459)
(8,151)
-
-
(8,151)
(62)
(353,672)|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
3,000
-
(3,000)
-
-
-
-
-
-
-
-
-
-
-
-
70
-
70|**Balance at**
**31 August**
**2024**
**£**
189,193
-|
|---|---|---|---|---|---|
||||||189,193|
||||||33,531
3,091
206|
||||||36,828
23,893|
||||||249,914|
Page 22
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
|**Unrestricted funds**
**_General_**
General Funds
**_Designated_**
Gift Fund
**Total unrestricted funds**
**Restricted**
Pioneer Missioner
Walker Fund
Heritage Fund
Refugee Support Fund
**Total restricted funds**
**Endowment funds**
**_Permanent_**
TMCP - Permanent Endowment
**Total funds**|**Balance at 1**
**September**
**2022**
**£**
350,498
3,000
353,498
14,967
6,687
242
598
22,494
22,108
398,100|**Incoming**
**resources**
**£**
305,808
-
305,808
26,946
-
-
2
26,948
693
333,449|**Resources**
**expended**
**£**
(420,643)
-
(420,643)
(4,145)
(3,596)
(36)
(600)
(8,377)
(63)
(429,083)|**Other**
**recognised**
**gains/(losses)**
**£**
-
-
-
-
-
-
-
-
(25)
(25)|**Balance at**
**31 August**
**2023**
**£**
235,663
3,000|
|---|---|---|---|---|---|
||||||238,663|
||||||37,768
3,091
206
-|
||||||41,065
22,713|
||||||302,441|
The specific purposes for which the funds are to be applied are as follows:
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 23
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **17 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted**
**funds**
**General**
**£**
31,414
186,072
(28,294)
189,192|**Restricted**
**funds**
**£**
-
36,829
-
36,829|**Endowment**
**funds**
**Permanent**
**£**
-
23,893
-
23,893|**Total funds at**
**31 August**
**2024**
**£**
31,414
246,794
(28,294)|
|---|---|---|---|---|
|||||249,914|
|Tangible fixed assets
Current assets
Current liabilities
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
32,902
-
229,235
3,000
(26,474)
-
235,663
3,000|**Restricted**
**funds**
**£**
-
41,065
-
41,065|**Endowment**
**funds**
**Permanent**
**£**
-
22,713
-
22,713|**Total funds**
**at 31 August**
**2023**
**£**
32,902
296,013
(26,474)|
|---|---|---|---|---|
|||||302,441|
## **18 Analysis of net funds**
|Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt|**At 1 September**
**2023**
**£**
264,933
264,933
**At 1 September**
**2022**
**£**
352,792
352,792|**Financing cash**
**flows**
**£**
(34,447)
(34,447)
**Financing cash**
**flows**
**£**
(87,859)
(87,859)|**At 31 August**
**2024**
**£**
230,486|
|---|---|---|---|
||||230,486|
||||**At 31 August**
**2023**
**£**
264,933|
||||264,933|
Page 24
## **Bolton Methodist Mission**
## **Notes to the Financial Statements for the Year Ended 31 August 2024**
## **19 Related party transactions**
There were no related party transactions in the year.
Page 25