# **WESLEY MEMORIAL OXFORD METHODIST CHURCH UNAUDITED FINANCIAL STATEMENTS 31 AUGUST 2020** 

**Charity Number 1130966** 



## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **TRUSTEES ANNUAL REPORT** 

## **YEAR ENDED 31 AUGUST 2020** 

The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 August 2020 

## **REFERENCE AND ADMINISTRATIVE DETAILS** 

**Registered charity name** Wesley Memorial Oxford Methodist Church **Charity registration number** 1130966 

## **THE TRUSTEES (Church Council)** 

The trustees who served the charity during the period were as follows: 

Revd Dr Martin Wellings (Chair) Janet Forsaith (Secretary) Malcolm Dodds (Treasurer)  David Eddy has been named alongside the Treasurer as a member of Church Council since 2014 

Church Stewards Rachel Blainey Nicola Dinsdale (elected annually at the General Church Kate Dobson Meeting) Janet Forsaith Jo Godfrey Grace Laird Simeon Mitchell Maria Moore Paul Spray 

Lawrie Coupland, Tom Ibbotson and Grace Samkange have been nominated and were approved as new stewards from 1[st] August 2020. 

Other members of the Church Council Freda Cammack Fiona Coomer (elected annually at the General Church Lawrie Coupland Meeting) Temba Dhiliwayo David Matthews Sizwe Mkwanazi Diana Musgrave Derek Rawson Kath Ridley Victoria Stone Kirstie Vreede 

Secretary of the Pastoral Committee Mary Lines 

Presbyters, deacons, probationers listed in SO 610(4) 

Also in attendance at the Church Council Nikos Paplomatas (Church Manager) Mel McCulloch (CFO Worker) Alison Butler (Mission and Heritage) Nicola Dinsdale (Youth Worker) 

**Independent examiner** 

Peter Stevenson 

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**WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2020** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

Wesley Memorial Church is part of the Oxford Methodist Circuit, which in turn is a component of the Northampton District of the Methodist Church of Great Britain. The Minister, who is also the Circuit Superintendent, is supported by internal groups and committees as follows: 

## Church Council 

The  Church  Council  is  the  primary  governing  body  of  Wesley  Memorial  Methodist  Church  in accordance with the Constitutional Practice and Discipline (CPD) of the Methodist Church. Members of  the  Church  Council  are  as  set  out  in  the  preceding  page.  Church  Stewards  and  elected representatives are elected at the annual Church General Meeting when all Church Members can attend and are entitled to vote and raise any issue for discussion. The Trustees actively seek nominations for new Trustees who can represent all aspects of the church community and its activities. 

At the first Church Council meeting of each year members receive documentation explaining their role  as  Trustees  including  information  from  the  Charity  Commission.  The  Trustees  receive  no renumeration or other financial benefits from their work. All decisions taken at Church Council are minuted.  A  summary  is  made  available  to  Church  Members  and  others  through  the  Wesley Memorial Newsletter and in church service notices. 

All the Committees listed below report to the Church Council which meets at least 3 times a year. 

## Church Stewards 

6  or  more  stewards  elected  by  the  General  Church  Meeting,  for  a  maximum  of  six  years. Responsible, with the Minister, for leadership over the whole range of the church's life and for acting on the decisions and policies of the Church Council. Eight stewards have served over the current year. 

## Finance and Property Committee 

Chair, Minister, Church Manager, Treasurer, Steward, Co-opted members. Prepares accounts and budget for presentation to Church Council, oversees day-to-day finance and property issues. 

## Pastoral Committee 

Chair, Minister, Pastoral Visitors, Pastoral Secretary, Steward. Pastoral care of church members and attenders, maintenance of membership roll and promotes fellowship through church groups. 

## Junior Church Committee 

Leaders,  Children  and  Families  Officer  and  Minister.  Oversees  Junior  Church  activities,  makes recommendations to Church Council for appointment and training of leaders. 

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**WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2020** 

## **Management** 

The Trustees have maintained financial management arrangements requiring dual signatures on all cheques, and prior approval for all except minor items of expenditure. Following the corona virus restrictions  the  Church  has  replaced  the  use  of  cheques  to  pay  invoices  with  bank  transfer payments. There are controls within the Co-Op internet banking system to provide security. Bank transfer payments have to be approved by two signatories – one to set up the payment and one to approve  –  and  the  original  invoices  are  saved  electronically  and  passed  on  to  the  Church bookkeeper. 

The Trustees have maintained a Safeguarding policy with appropriate DBS (Disclosure and Barring Service) checks for all aspects of the work of the Church with children and vulnerable adults. 

The Trustees have maintained a system of formal risk assessment and a risk register. This includes mitigation strategies and is reviewed regularly by the Trustees and by relevant sub-Committees. With the onset of the Covid pandemic additional risk assessments were provided for all aspects of re-opening the church building for use. 

Day to day management of the premises of the church and caretaking staff employed by Wesley Memorial Church, is delegated to the Church Manager. The Church Manager and other employees undergo  annual  appraisal  and  take  part  in  regular  review  meetings  with  their  line  manager. Wherever practicable the arrangements for appraisal and other employment issues follow the advice issued by the Methodist Church of Great Britain. 

## **OBJECTIVES AND ACTIVITIES** 

The purpose of the Wesley Memorial Methodist Church is to advance the Christian Faith. To achieve this the Church Council adopted a Church Plan covering 2018-21 which has seven priorities: 1. Nourish a worshipping community; 2. Create welcoming communities within the church; 3. Nurture children, young people and families; 4. Help people to develop their faith and discipleship; 5. Develop a more welcoming building; 6. Use our premises for witness and mission; and 7. Use our heritage to share the love of God and witness for social justice. 

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**WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2020** 

## **ACHIEVEMENTS AND PERFORMANCE** 

Like  every  other  organisation  in  the  United  Kingdom  and  round  the  world  Wesley  Memorial Methodist Church’s year fell into 2 parts: before (September 2019 to roughly February 2020) and after the Covid-19 pandemic (roughly February 2020 to August 2020). Looking at performance against the headings of the Church Plan we report as follows: 

## **Nourishing a worshiping community** 

Wesley Memorial Methodist Church held public worship on Sundays and Wednesdays. Every effort was made to make the services excellent in quality and accessible and inviting to all. Facilities were offered for baptisms, wedding and funerals with accompanying pastoral care. When Covid struck the Church was closed from 16 March 2020 to 23 August 2020 with a Circuit Service on Sundays and  Wednesday  prayers  by  Zoom.  The  Church  opened  again  on  23  August  2020  with  strict protocols for social distancing and booking in. As will be reported in the next Annual Report the Church closed again in Autumn 2020 due to Covid. 

## **Creating welcoming communities in Oxford** 

Tea,  coffee  and  other  refreshments  were  offered  after  Sunday  services  migrating  during  the pandemic to ‘Zoom coffee’ between homes. Students and other young people went to a local café afterwards for second coffee. 

## **Nurture children, young people and families** 

Junior Church met on Sunday mornings in Church and then on Zoom. Worship and learning were imaginative and fun. Once a quarter the whole service is all age. Midweek social events are organised. 

## **Helping people to develop their faith and discipleship** 

Courses and events were inevitably limited. House groups continued to meet including one on ‘God in love unites us’, the Methodist Church’s report on marriage and relationships. Most significantly a six page ‘Wesley Mem Weekly’ was published from the start of the pandemic with reflections and news. 

## **Developing a more welcoming building** 

The Open Doors project, launched in October 2009, has raised £2m in gifts, pledges and grants. A phased programme of building work started in November 2015. A steady programme of maintenance has continued throughout the year. In 2019-20 the Westminster College Oxford provided a grant of £663,451 which will enable the project to be completed in 2021. The building contract with Benfield & Loxley is for £1,095,809.88 plus VAT (started on site 2 November 2020). The Church expects to claim a large proportion of the VAT under the Listed Places of Worship Grants Scheme.  There is also a loan facility of £50,000 in place from the Oxford Circuit should that be necessary. There will be other commitments to Professional Fees which we do not expect to exceed £50,000. 

## **Using our premises for witness and mission** 

The premises are normally available for a wide range of community groups and activities. Church members engage as volunteers with many organisations. Notable among these are Rainbow House (a  drop-in  centre  for  carers  and  children),  the  Oxford  PHAB  (People  have  aBilities)  Club  and Wednesday Coffee (a drop-in for adults). The sanctuary was open during the week to welcome visitors and to provide space for prayer, reflection and rest. Sadly, the activities in the building came  to  a  halt  with  Covid  although  some  Church  members  were  able  to  volunteer  with organisations providing support. 

## **Use our heritage to support the love of God** 

A new WesleysOxford website was launched including 22 audio stories in which Church members shared their life stories and reflected on faith. Materials and displays were made available to inform visitors calling during the week and the Church took part in Oxford Open Doors in September 2019. 

## **Witness for social justice** 

The Oxford Winter Night Shelter (OWNs) was based at Wesley Memorial Methodist Church on Sunday evenings from January 2020 to March 2020 resourced by volunteers from the Church. The Church  supports  the  Gatehouse  (drop-in  centre  for  the  homeless)  providing  food  before  the 

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**WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

pandemic struck and money thereafter. Sermons and the Wesley Mem Weekly have encouraged Church members to take up issues of social justice and contribute funds. 

## **Reverend Dr Martin Wellings** 

At the end of the year the Church said farewell to the Revd Dr Martin Wellings after 12 years as Superintendent Minister. A service was held to give thanks for Martin’s work and of his wife Fiona and to wish them well for the future. The more informal presentation of gifts and good wishes sadly had to take place virtually. 

## **TRUSTEES ANNUAL REPORT YEAR ENDED 31 AUGUST 2020** 

## **FINANCIAL REVIEW** 

Total incoming resources in the year to 31 August 2020 were £333,278  (2019: £440,068). Total outgoing resources were £375,342 in the year to 31 August 2020 (2019: £417,496). The figures include income and expenditure for the Open Doors refurbishment project of £56,179 and £1,079 respectively (see note 16). In addition, the capital expenditure for the Open Doors project was £29,654 [see note 14]. The incoming resources in 2020 included a legacy of £10,000 which was an unrestricted gift. 

The overall position for the year was a deficit of £46,058 (2019: surplus of £24,037) [see Statement of Financial Activities]. In 2020 there was a deficit on general undesignated funds for the year to August 2020 of £25,828  (2019: £10,221 deficit). Offerings increased by £1000 (compared to 2019). Contributions made for lettings decreased (£39k reduction compared to 2019). The lettings income decrease has been caused by the coronavirus pandemic. This was partly offset by Covid related  government  grants  totalling  £33k.  In  addition  to  the  expenditure  there  has  been  an unrealised loss on the endowment investments of £3,994 in the year to 31 August 2020 as their value has decreased. 

A steady programme of maintenance has continued through the year. Details of the Open Doors Project are set out in the preceding Achievements and Performance Report. 

## **Reserves policy** 

The Church’s policy is to hold a general reserve of 25-35% of total annual expenditure (excluding endowments, designated and restricted funds) for that year. In addition, the property repairs and major works fund is set aside to be used for large or unexpected maintenance expenditure. The balance of this fund, at the end of each year, should be about 20% of general funds expenditure for that year. Should this be insufficient, or if the church were to face unexpected large expenditure of a different nature, or other unexpected shortfalls in income, it would appeal to church members to cover the gap. The Church will continue to maintain funds within the church’s deposit account to underwrite the fluctuation in cash flow when the Open Doors building work continues to phase 4b. 

Total reserves for the year ended 31 August 2020 amounted to £1,537,363 (2019: £1,583,421). However,  this  includes  endowment  funds  of  £372,091  (2019:  £366,085),  and  a  number  of designated and restricted funds, including those held for Rainbow House of £16,323, Open Doors of £139,580, and Property Repairs and Major Works of £70,013. Separate funds have again been used for the depreciation of the new Open Doors building work and the kitchen equipment. The general fund  reserves  at  31  August  2020  were  £38,725  (see  note  15)  and  represent  14%  of  total expenditure of unrestricted and undesignated funds. 

## **PLANS FOR FUTURE PERIODS** 

The trustees would wish to maintain the present activities of the church, as described elsewhere, with a focus as set out in the Church Plan. However, their ability to do so will be dependent on the ongoing effects of the corona virus. It is likely that the full range of planned activities will only be possible in the last quarter of 2020-21 depending on how restrictions are lifted. During 2020-21 the Church is reducing its costs given its reduced income from lettings. Government furlough grants will continue to April 2021. The Church expects 2-3 legacy payments in 2020-21. There is the Property Repairs and Major Works fund of £70,000 built up in anticipation of the Church being closed for completion of the Open Doors Project. There is likely to be a call for additional giving in 2020-21 to meet any shortfall and to ensure that the Church maintains its reserves. 

**Corona virus:** The Church sustained a loss of £46,058. The Church received the anticipated rental and lettings income August 19-March 20. The Covid pandemic brought an end to lettings income save for the church flats rental income and that from Cruse (who rent offices in the Church building). The Church lost the remaining rental income April to August 2020 (estimated £40,000). The Church has received and will receive furlough payments. The Church Administrator post was 

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## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

not filled for some months saving money. The Church has had lower costs with no caretaker overtime and reduced other costs. From September 2020 the outlook depends on whether the missing rental income will be restored which in turn depends on Covid 19 restrictions. If this is substantially lower the Church will have look at its available resources, potential legacy and other income,  look  at  reducing  its  costs  and  make  an  appeal  to  members  to  meet  the  deficit. Government furlough payments will carry on albeit at a reduced rate until April 2021. 

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**WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **TRUSTEES ANNUAL REPORT** 

## **YEAR ENDED 31 AUGUST 2020** 

## **RESPONSIBILITIES OF THE TRUSTEES** 

The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities 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 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; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

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 and the Charity (Accounts and Reports) Regulations 2008. 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. 


Signed: 

Dated: 5 March 2021 Revd. Peter Powers 

Signed: Malcolm Dodds (signed electronically) Dated: 4 March 2021 Malcolm Dodds (Treasurer) 

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## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **YEAR ENDED 31 AUGUST 2020** 

I report on the accounts of the charity for the year ended 31 August 2020 which are set out on pages 8 to 19. 

## **RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER** 

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider than an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 

It is my responsibility to: 

- examine the accounts under section 145 of the 2011 Act: 

- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- to state whether particular matters have come to my attention. 

## **BASIS OF INDEPENDENT EXAMINER’S REPORT** 

My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below. 

## **INDEPENDENT EXAMINER’S STATEMENT** 

In connection with my examination, no matter has come to my attention: 

(1) which gives me reasonable cause to believe that in any material respect the requirements: 

- to keep accounting records in accordance with section 130 of the 2011 Act; and 

- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 

have not been met; or 

- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

Peter Stevenson signed electronically – original signature on document held by Treasurer Peter J Stevenson Chartered Accountant 

Date:  04 March 2021 

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## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2020** 

||**Unrestri**<br>**cted**<br>**Funds**<br>**(Note**<br>**15)**|**Restric**<br>**ted**<br>**Funds**|**Endow**<br>**ment**<br>**Funds**|**Total**<br>**Funds**<br>**2020**|**Unrestri**<br>**cted**<br>**Funds**<br>**(Note**<br>**15)**|**Restric**<br>**ted**<br>**Funds**|**Endow**<br>**ment**<br>**Funds**|**Total**<br>**Funds**<br>**2019**|
|---|---|---|---|---|---|---|---|---|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|**Note**|||||||||
|**INCOME FROM:**|||||||||
|Donations and<br>legacies<br>**2**|137,701|58,781|10,000|206,48<br>2|183,896|68,629|-|252,52<br>5|
|Charitable activities<br>**3**|120,481|-|-|120,48<br>1|178,573|-|-|178,57<br>3|
|Investment income<br>**4**|5,815|501|-|6,315|8,970|-|-|8,970|
|**TOTAL INCOME**|263,997|59,281|10,000|333,27<br>8|371,439|68,629|-|440,06<br>8|
|**EXPENDITURE ON:**|||||||||
|Charitable activities<br>**5-6**|346,539|28,803|-|375,34<br>2|383,983|33,513|-|417,49<br>6|
|**TOTAL**<br>**EXPENDITURE**|346,539|28,803|-|375,34<br>2|383,983|33,513|-|417,49<br>6|
|Net gains/losses on<br>investments|-|-|- 3,994|- 3,994|-|-|1,465|1,465|
|**NET**<br>**INCOME/EXPENDITU**<br>**RE BEFORE**<br>**TRANSFERS**|- 82,542|30,478|6,006|- 46,058|- 12,543|35,116|1,465|24,037|
|**TRANSFERS**<br>**BETWEEN FUNDS**|29,654|- 29,654|-|-|18,750|- 18,750|-|-|
|**NET MOVEMENT IN**<br>**FUNDS**|- 52,888|824|6,006|- 46,058|6,207|16,366|1,465|24,037|
|**RECONCILIATION OF**<br>**FUNDS**|||||||||



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||**WESLEY MEMORIAL OXFORD METHODIST CHURCH**|**WESLEY MEMORIAL OXFORD METHODIST CHURCH**|**WESLEY MEMORIAL OXFORD METHODIST CHURCH**|**WESLEY MEMORIAL OXFORD METHODIST CHURCH**|**WESLEY MEMORIAL OXFORD METHODIST CHURCH**|**WESLEY MEMORIAL OXFORD METHODIST CHURCH**|||
|---|---|---|---|---|---|---|---|---|
|Total funds brought<br>forward|1,173,76<br>6|43,570|366,085|1,583,4<br>21|1,167,55<br>9|27,204|364,620|1,559,3<br>84|
|**TOTAL FUNDS**<br>**CARRIED FORWARD**|1,120,87<br>8|44,394|372,091|1,537,3<br>63|1,173,76<br>6|43,570|366,085|1,583,4<br>21|



The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. 

All of the above amounts relate to continuing activities. 

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## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **BALANCE SHEET 31 AUGUST 2020** 

||**2020**|**2020**|**2019**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Note**||||
|**FIXED ASSETS**||||
|Tangible assets<br>**8**||881,900|908,082|
|Investments<br>**9**||372,091|366,085|
|||1,253,99<br>1|1,274,16<br>7|
|**CURRENT ASSETS**||||
|Debtors<br>**10**|54,186||56,267|
|Cash at bank|243,461||256,398|
||297,647||312,664|
|**CREDITORS: Amounts falling**<br>**due within one year**<br>**11**|- 14,275||- 3,411|
|**NET CURRENT ASSETS**||283,372|309,253|
|**TOTAL ASSETS LESS CURRENT**<br>**LIABILITIES**||1,537,36<br>3|1,583,42<br>1|
|**FUNDS**||||
|Endowment funds<br>**12**||372,091|366,085|
|Restricted income funds<br>**14**||44,394|43,570|
|Unrestricted income funds<br>**15**||1,120,87<br>8|1,173,76<br>6|
|||1,537,36<br>3|1,583,42<br>1|



These financial statements were approved by the members of the Church Council and authorised for issue on 04 March 2021 and are signed on their behalf by: 


Revd Peter Powers Mr M Dodds (signed electronically) Chair Treasurer 

**Note:** Revd Peter Powers took over as Minister for Wesley Memorial Methodist Church in September 2020. 

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## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020** 

## **1. ACCOUNTING POLICIES** 

## **(a)Basis of preparation and assessment of going concern** 

The financial statements have been prepared under the historical cost convention, except for the investments which are included at market value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011. 

As indicated in their report, the trustees are satisfied that, even on worst case scenario, the charity remains a going financial concern for at least the next 12 months, given its ability to appeal for extra funds from church members and to cut costs if necessary. 

## **(b)Fixed assets** 

All fixed assets costing over £500 are initially recorded at cost. 

## **(c)Depreciation** 

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: 

Equipment 20% Straight line Land and buildings 2% Straight line 

## **(d)Subsidies given** 

This year the charity has again included the subsidy given to PHAB in relation to the use of the church premises of £3,500. The figure included aims to reflect the estimated rental of the space being used. 

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## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

## **2. DONATIONS AND LEGACIES** 

||Unrestric<br>ted Funds|Restricte<br>d Funds|Endowme<br>nt|Total<br>Funds<br>2020|Total<br>Funds<br>2019|
|---|---|---|---|---|---|
||||Funds|||
||£|£|£|£|£|
|**Donations and**<br>**legacies**||||||
|Oferings|77,254|39,235|10,000|126,489|153,626|
|Tax recoveries|16,719|3,156|-|19,876|23,291|
|Grants from external<br>donors|43,728|15,005|-|58,732|70,750|
|Funds raised for other<br>charities|-|1,385|-|1,385|4,857|
||137,701|58,781|10,000|206,482|252,525|



Offerings include £37,517 for Open Doors, including tax recoveries (2019: £66,625, including tax recoveries). 

Grants from external donors includes £33,228 from the government’s Covid job retention scheme. 

## **3. INCOME FROM CHARITABLE ACTIVITIES** 

||Unrestric<br>ted Funds|Restricte<br>d Funds|Total<br>Funds<br>2020|Total<br>Funds<br>2019|
|---|---|---|---|---|
||£|£|||
|Contributions for services|120,481|-|120,481|178,573|
||120,481|-|120,481|178,573|



## **4. INVESTMENT INCOME** 

|**INVESTMENT INCOME**|||||
|---|---|---|---|---|
||Unrestric<br>ted Funds|Restricte<br>d Funds|Total<br>Funds<br>2020|Total<br>Funds<br>2019|
||£|£|||
|Bank interest receivable|5,815|501|6,315|8,970|
||5,815|501|6,315|8,970|



## **5. COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE** 

||Unrestric<br>ted Funds|Restricte<br>d Funds|Total<br>Funds<br>2020|Total<br>Funds<br>2019|
|---|---|---|---|---|
||£|£|||
|Church activities|346,539|28,803|375,342|417,496|
||346,539|28,803|375,342|417,496|



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## **WESLEY MEMORIAL OXFORD METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020 6. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE** 

||Church<br>activities|Total<br>Funds<br>2020|Church<br>activities|Total<br>Funds<br>2019|
|---|---|---|---|---|
||£||£||
|Circuit assessment|112,487|112,487|114,703|114,703|
|Sunday services and church<br>community|3,048|3,048|10,289|10,289|
|Youth work|502|502|1,326|1,326|
|Ofce costs|71,624|71,624|81,867|81,867|
|Caretaking and cleaning|67,081|67,081|66,427|66,427|
|Heat, light and water|21,595|21,595|19,110|19,110|
|Insurance|8,421|8,421|8,290|8,290|
|Service contracts|2,752|2,752|3,316|3,316|
|Repairs and major works|3,518|3,518|6,002|6,002|
|Rainbow House|10,060|10,060|21,813|21,813|
|Open Doors|1,000|1,000|16,680|16,680|
|Other expenditure|3,468|3,468|6,115|6,115|
|Depreciation|67,678|67,678|59,451|59,451|
|Governance costs|2,106|2,106|2,106|2,106|
||375,342|375,342|417,496|417,496|



Governance Costs: 

|Governance Costs:|||||
|---|---|---|---|---|
||Unrestric<br>ted Funds|Total<br>Funds<br>2020|Unrestric<br>ted Funds|Total<br>Funds<br>2019|
||£||£||
|Accountancy fees|1,956|1,956|1,956|1,956|
|Independent Examination|150|150|150|150|
||2,106|2,106|2,106|2,106|



## **7. STAFF COSTS AND EMOLUMENTS** 

Total staff costs were as follows: 

|**STAFF COSTS AND EMOLUMENTS**<br>Total staf costs were as follows:|||
|---|---|---|
||2020|2019|
||£|£|
|Wages and salaries|123,800|124,910|
|Social security costs|4,594|3,965|
|Pension contributions|4,058|4,280|
||132,452|133,154|



14 



## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

## **Particulars of employees:** 

The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 

|Number of staf|**2020**<br>**No**<br>4|**2019**<br>**No**<br>4|
|---|---|---|



No employee received remuneration of more than £60,000 during the year (2019 – Nil). The charity considers its key management personnel to be the trustees and the Minister. The trustees give their time freely and the Minister’s salary is paid by the Circuit, so there are no costs of key management personnel to report (2019 – Nil). 

## **8. TANGIBLE FIXED ASSETS** 

|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|
||**Land**<br>**and**<br>**Building**<br>**s**|**General**<br>**fxed**<br>**assets**|**Open**<br>**Door**<br>**Fixtures,**<br>**Fittings**<br>**and**<br>**Equipme**<br>**nt**|**Total**|
||£|£|£|£|
|**COST**|||||
|At 1 September 2019|860,918|76,610|152,434|1,089,96<br>2|
|Disposals|-|-|-|-|
|Additions|-|11,841|29,654|41,495|
|At 31 August 2020|860,918|88,451|182,088|1,131,45<br>7|
|**DEPRECIATION**|||||
|At 1 September 2019|63,734|48,681|69,465|181,879|
|Disposals|-|-|-|-|
|Charge for the year|17,218|14,107|36,353|67,678|
|At 31 August 2020|80,952|62,788|105,818|249,557|
|**NET BOOK VALUE**|||||
|At 1 September 2019|797,184|27,929|82,969|908,082|
|At 31 August 2020|779,966|25,664|76,270|881,900|



The additions are shown net of any VAT refund. 

15 



## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

## **9. INVESTMENTS** 

|**INVESTMENTS**|||
|---|---|---|
||2020|2019|
||£|£|
|Market value at 1 September 2019|366,084|364,620|
|Legacy received|10,000||
|Net  gains  on  revaluations  in  the  year  ended  31<br>August 2020|- 3,994|1,465|
|Disposal of investment to go towards Open Doors<br>fund|||
|Market value at 31 August<br>2020|372,091|366,084|
|Historical cost at 31<br>August 2020|274,923|264,923|



## **10. DEBTORS** 

||2020|2019|
|---|---|---|
||£|£|
|Prepayments|30,850|30,219|
|Other debtors|23,337|26,048|
||54,186|56,267|



|**11.**<br>**CREDITORS: Amounts falling due within one year**<br>2020<br>£<br>Accruals<br>150<br>Circuit Loan<br>-<br>Income received in<br>advance<br>11,000<br>Other creditors<br>3,125<br>14,275|**11.**<br>**CREDITORS: Amounts falling due within one year**<br>2020<br>£<br>Accruals<br>150<br>Circuit Loan<br>-<br>Income received in<br>advance<br>11,000<br>Other creditors<br>3,125<br>14,275|**11.**<br>**CREDITORS: Amounts falling due within one year**<br>2020<br>£<br>Accruals<br>150<br>Circuit Loan<br>-<br>Income received in<br>advance<br>11,000<br>Other creditors<br>3,125<br>14,275||
|---|---|---|---|
|||2020|2019|
|||£|£|
||Accruals|150|150|
||Circuit Loan|-|-|
||Income received in<br>advance|11,000||
||Other creditors|3,125|3,261|
|||14,275|3,411|



The £11,000 income in advance relates to a Mission and Heritage grant received before the year end but relating to 2020-21 

16 



## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

## **12. ENDOWMENT FUNDS** 

||Balance<br>at 1 Sept<br>2019|Gains<br>and<br>losses|Additions|Balance<br>at 31 Aug<br>2020|
|---|---|---|---|---|
||£|£||£|
|Permanent endowments|||||
|JH Brashour and other<br>endowments|235,980|- 3,994||231,986|
|Anonymous bequest|100,000|||100,000|
|Other bequests|30,105||10,000|40,105|
||366,084|- 3,994|10,000|372,091|



These endowment funds are held by the Trustees for Methodist Church Purposes. Interest from them is available for the church’s general funds. Two small funds are specifically for church flowers and support of people in need. 

A legacy of £10,000 was received during the year. 

## **13. FUND TRANSFERS** 

During the year ended 31 August £29,654 was transferred from the Open Doors Restricted fund to the Open Doors depreciation Fund in order to earmark funds for future depreciation of capital assets purchased in 2019-20 

17 



## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

## **14. RESTRICTED INCOME FUNDS** 

||**Balance**<br>**at 1**<br>**Sept**<br>**2019**|**Incomin**<br>**g**<br>**resource**<br>**s**|**Outgoin**<br>**g**<br>**resource**<br>**s**|**Transfer**<br>**on**<br>**Capital**<br>**Expendit**<br>**ure**|**Transfer**<br>**s**|**Balance**<br>**at 31**<br>**Aug**<br>**2020**|
|---|---|---|---|---|---|---|
||£|£|£|£|£|£|
|Special Purposes Fund|305|3,103|- 3,389|-|-|18|
|Open Doors Fund|-|56,179|- 1,079|- 29,654|-|25,446|
|Mission & Heritage|43,265|-|- 24,335|-|-|18,930|
||43,570|59,281|- 28,803|- 29,654|-|44,394|
|Previous year:|||||||
||**Balance**<br>**at 1**<br>**Sept**<br>**2018**|**Incomin**<br>**g**<br>**resource**<br>**s**|**Outgoin**<br>**g**<br>**resource**<br>**s**|**Transfer**<br>**on**<br>**Capital**<br>**Expendit**<br>**ure**|**Transfer**<br>**s**|**Balance**<br>**at 31**<br>**Aug**<br>**2019**|
||£|£|£|£|£|£|
|Special Purposes Fund|- 5|5,879|- 5,568|-|-|305|
|Open Doors Fund|-|18,750|-|- 18,750|-|-|
|Mission & Heritage|27,209|44,000|- 27,945|-|-|43,265|
||27,204|68,629|- 33,513|- 18,750|-|43,570|



18 



## **WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

## **15. UNRESTRICTED INCOME FUNDS** 

||Balance<br>at 1 Sept<br>2019|Incoming<br>resources|Outgoing<br>resources|Transfer<br>on Capital<br>Expenditu<br>re|Movemen<br>t in year|Balance<br>at 31 Aug<br>2020|
|---|---|---|---|---|---|---|
||**£**|**£**|**£**|£|**£**|**£**|
|**General Funds**|64,553|253,412|- 279,240|-|- 25,828|38,725|
|**Designated Funds**|||||||
|Rainbow House|15,947|10,585|- 10,209||376|16,323|
|Property Repairs and Major<br>Works Account|73,532|-|- 3,518||- 3,518|70,013|
|Open Doors Fund|139,580|-|-||-|139,580|
|Open Doors Building<br>Depreciation Fund|797,184|-|- 17,218||- 17,218|779,966|
|Open Doors Fixtures,<br>Fittings and Equipment<br>Depreciation Fund|82,970|-|- 36,353|29,654|- 6,699|76,271|
||1,173,76<br>6|263,997|- 346,539|29,654|- 52,888|1,120,87<br>8|



**General funds:** funds held for general church purposes. 

**Rainbow House:** funds held on behalf of Rainbow House, a drop-in centre for anyone with a small child who is in the centre of Oxford and needs a break. It is based at the church. 

**Property repairs and major works:** to equalise the expenditure from year to year. See Note 9. 

**Open Doors:** a fundraising initiative to refurbish the premises, modernising existing facilities, and making the building more welcoming and flexible. Phases 1, 2 3, and  4a of the project have been completed. Funding is being sought for the final phase 4b which includes constructing an atrium and heritage centre. It is hoped to raise sufficient funds and start the building work in the next year or so. 

19 



## **WESLEY MEMORIAL OXFORD METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

**Open Doors Building Depreciation Fund:** a fund set up to offset depreciation on the capitalised building costs in future years. **Open Doors Kitchen Equipment Fund:** a fund set up to offset depreciation on the capitalised kitchen equipment costs in future years **Friends of Wesley Memorial Church:** a group of people who keep in touch with Wesley Memorial and support its aims and objectives. This Friends fund has now been closed. Although there are a number of Wesley Memorial Friends, they are no longer required to make a payment for this. The surplus amount from the Fund has been transferred to Open Doors. 

## **Previous year:** 

|**Previous year:**||||||||
|---|---|---|---|---|---|---|---|
||**Balance**<br>**at 1**<br>**Sept**<br>**2018**|**Incomin**<br>**g**<br>**resource**<br>**s**|**Outgoin**<br>**g**<br>**resource**<br>**s**|**Transfer**<br>**on**<br>**Capital**<br>**Expendit**<br>**ure**|**Transfer**<br>**s**|**Moveme**<br>**nt in**<br>**year**|**Balance**<br>**at 31**<br>**Aug**<br>**2019**|
||**£**|**£**|**£**|£|**£**|**£**|**£**|
|**General Funds**|74,775|281,417|- 291,638|-||- 10,221|64,553|
|**Designated Funds**||||||||
|Rainbow House|17,004|20,893|- 21,950||-|- 1,057|15,947|
|Property Repairs and Major<br>Works Account|79,534|-|- 6,002|||- 6,002|73,532|
|Open Doors Fund|92,476|69,130|- 16,680|18,750|- 24,096|47,104|139,580|
|Open Doors Building<br>Depreciation Fund|814,403|-|- 17,218|-||- 17,218|797,184|
|Open Doors Fixtures,<br>Fittings and Equipment<br>Depreciation Fund|89,368|-|- 30,494|-|24,096|- 6,398|82,970|
||1,167,55<br>9|371,439|- 383,983|18,750|-|6,207|1,173,76<br>6|



20 



**WESLEY MEMORIAL OXFORD METHODIST CHURCH** 

## **NOTES TO THE FINANCIAL STATEMENTS (Continued) YEAR ENDED 31 AUGUST 2020** 

## **16. SUMMARY OF OPEN DOORS FUNDS** 

|**6.**<br>**SUMMARY OF OPEN DOORS FUNDS**||
|---|---|
||**£**|
|Opening balance|139,580|
|Transferred from endowment fund|-|
|Income received in 2019-20|56,179|
|Total income|195,758|
|Revenue expenditure|1,079|
|Capital expenditure|29,654|
|Total expenditure|30,733|
|Balance left available for future Open Doors projects||
|Restricted funds|25,446|
|Unrestricted funds|139,580|
||165,026|



## **17. RELATED PARTY TRANSACTIONS AND TRUSTEES’ EXPENSES AND REMUNERATION** 

The trustees all give their time and expertise freely without any form of remuneration or other benefit in cash or kind (2019: nil). No expenses were paid to the trustees (2019: nil). There were no related party transactions during the year (2019: nil). 

21