The Methodist Church
Finchley Methodist Church
Circuit Number 35135
Registered Charity Number 1133907
TRUSTEES. REPORT AND AccouNrs
YEAR ENDED 31 August 2023
REGISTERED CHURCH OFFICE
Finch]ey M¢thodist Church
227 Ballards Lane
Finchley
London
N3 INB

TRUSTEES
Rev Martin Wellings (Chair)
Christine Luv818
David French (Treasurer)
tkjrothy Moir
Barbara Heath8rington
Deborah Lynch-shyllon
Lindi Lewis
Rev Ben Tsumasi
Henry Forde
Shaun Sanders
Hannah Lynch Shyllon
Annu Varghese
Mary Campbell
Dr Sarada Vijeralnam
Tony Gossett
Dr Latha Thangari
Dr Rajan Vijeratnam
INDEPENDENT EXAMINER
David Evans
38 Galley Lane,
Alkley,
Herts. .
EN5 4AJ.
BANKERS
HSBC pic
333 Vauxhatl Bridge Road
London
SW1V 1EJ
Central Finance Board of the Methodist Church
9 Bonhill st￿et
London
EC2A 4PE

TRUSTEES. REPORT
The bustees present their report and the financial statements for the year erKled 31 ALtgust 2023.
These have been prepared in accordance with the Chartties Act 2011.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Finchley Methodist Church is a constÉtuent Society of the Bamet and Queensbury Methodist
Circuit, based in the London Borough of Bamet.
The activities of the Church are govemed by The Constitutional Practice and Discipline of the
Methodist Church which incorporates the Methodist Church Act 1976. The goveming body is the
Church Council, whose members are the ministers (presbyters and deacons) appointed to the
Circuit by the Methodist Conference, officers and representatives elected annually by the General
Church Meeting, a Circuit Steward and CO￿pted members.
The Superintendent Minister chairs the Church Council.
The Church Council meets a minimum of twice a year and agrees on the broad strategy and areas
of activity for the Church. including consideration of grant making investment, reserves and risk
management policies and perfornan￿. The more detsiled management of the Church is
entrusted to the Church Stewards, elected annually by the General Church Meeting, and
responsible with the Minister in pastoral charge for the day-to-day lrfe and work of the Church.
OBELECTIVES AND ACTivmES
The principal objective of the Church is Ihe advancement of the Christian faith in accordance with
the doctrinal starKlards and discipline of the Methodist Church, (Section 4a Methodist Church Act
1976). This is done for as many people as possible within the geographical area the Church
serves. In addition, the Methodist Church Act allows for the advan￿ment of other charitable
purposes Yor Ihe time being, of any subsidiary unrt of the Methodist Church. (Sections 4b -4d
Methodist Church Act 1976)
Based on the above objectives, with due consideration of the Charities Commission guidance on
public benefit and, in particular, the specific guidan￿ on the charities for the advancement of
religion, the Church has the following aims:
The provision of Christian worship, spiritual development and pastoral Ca￿ both to the
members of the Church and to the wider communty in which it is located.
To raise funds so as to make grants to advance the Christian Faith, or for other charitable
purposes as for the time being the Church Council deems appropriate, both locally.
nationally and intemationally.
To support the advan￿ment of the Christian Faith through ecumenical liaison wth other
Christian groups.

The majority of the aims fall within the tharitable activty 'missFon arKI rninistr￿ (i.e. the
overall advancement of the Christian Faith) with a small amount of grant funding being
for other charitable purposes.
In support of these aims The Methodist Church owns property in the fomi of church premises, arKI
manses for staff accommodation. The Custodian Trustees. who I￿ld legal title to these properties
are:
The Trustees for Methodist Church Purtx)ses
Central Buildings
Oldham Street
Manchester
M1 1JQ.
The Managing Trustees for church premises are the Church Council members of the local society.
Reserves pollcy
The Church Council has eslablished a reserves policy that ensures that Finchley Methodist
Church can continue to support tts commitments in the event of a downtum in the Church's income
and can suppjrt its more immediate Obl￿ationS in the event of a delay in the re￿Ipt of commÉtted
funding. The policy also addresses the Trustees, responsibility for the maintenance of extensive
premises, most of which are more than one hundred years old.,
The Trustees have set a policy that reserves must not fall below six months operating
costs. At 31"August 2023 the Trustees had no concems about this.
Investment Policy
In common with other Methodist Circuits arKI Churches, furKls not required for immediate use are
deposited with the Central Finance Board of the Methodist Church 'CFB'. This produces a minimal
level of retum while maintsining minimal nsk and a high degree of liquidity.
This is reviewed annually.

RISK MANAGEMENT
The Church Counal regularfy rewews and assesses the risks that affect the wellbeing
of the Church and its finances. Action is taken to mitigate risks where appropriate. The
main financial risks identFfied are as follows:
Loss of income from property lettings
Unexpected property repairs to churches resulting in an inabilrty to pay circuit
Assessment
The Church Council considers that the current level of reserves is sufficient to meet
any unplanned expenditure in the event of the at)ove and when planning the budget
for future years.
TRUSTEES
The members of the Church Council are appointed in accordance with the Standing Orders of the
Methodist Church. The trustees on page 2 are those who served during the reporting year or were
serving at the date the accounts were signed.
A range of guidance produ&d by Met￿diSt Connexion lo support the effective running of the
Church, specifically the leaflet The Role of a Trustee in The Methodist Church, is given to all new
Church Council members as induction to their role as trustees.
The Trustees are also committed to ensuring that the Connexional Safeguarding Policy
is implemented in accordance with govemment legislation, to provide a safe environrnent for
young people and vulnerable adults.
STATEMENT OF TRUSTEES. RESPONSIBILITIES IN RESPECT OF THE ACCOUNTS
Charity law requires the trustees trj prepare financial statements for each financial period which
give a true and fair view of the state of affairs of Finchley Methodist Church and of the results for
that period. In preparing those financial ststements. the trustees are required to:
select suFtable accounting policies and then apply them consistently:
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting stsndards have been followed. subject to any material
departures disclosed and explained in the financial statements:
prepare the financial statements on the going concem basis unless it is inappropriate to
presume that the Circuit will continue to function,. and
comply with Ihe Statement of Recommended Practice on accounting and
reporting by charities issued in 2015.
The trustees are responsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the Church. They are also responsible for
safeguarding the assets of the Church and hence for ts￿.ng reasonable steps for the prevention
and detection of fraud and other irregularities. The trustees confimi that they have complied with
the above requirements and responsibilities.

Independent Examlners Report 2022-23
I report to the trustee5 on my examination of Ihe acLx>unts for the year ended 31. August 2023 that
are set OLrt below.
Responsibilities and basis of opinion
As Ihe trustees of the Chaiity. you are responsible for the preparation of the accounts
in accordan￿ with the ￿qUIrementS of the Charities Act 2011- The Act).
I report in respect of my examination of the Trustees accounts carrred out under Section 14S of
The Act and in carrying OLrt my examination I have folk)wed all the applicable directions given to
me by the Charity Commission under section 145(3Mb) of The Act.
Independent Examlners Statement
I have completed my examination aThJ confinn that no material matters have come to
my attention in connection with the examinats'on that give cause to believe that in any
material respect of:
1. Accounting records were not kept in respect of the charity as required by Section
130 of The Act.
2. The accounts do not accord with t￿se records.
I have no concems and have come across no other matters in connection with the examination to
which attention needs to be drawn in order to enable a proper uThderstanding of the accounts to be
reached.
David Evans
38 Galley Lane
Arkiey
Herts
ENS 4AJ

Declarations and Scrutlny
I can confim that these receipts arKI payments based ac￿untS for the year to 31'August 2023
have been prepared from the records of the church and that they indude ail funds under the
control of the churc
trustees.
Signature of Treas
Date: 151h April 202
David French
Presentation to the Trustees
I confirm that the annual report and accounls for the year ended 31 August 2023 We￿ presented
to the meeting of the Trustees held <>. Li Iikn
Signature of the Chair of Meeting
Date
v1.914
Martin Wellings

Finchle
Methodist Church
Annual Accounts 2022-23
Given the expenditure pressures assumed for the year. the £Sk surplus was a healthy position for the year.
We had budgeted for an £8k deficit, so were effectively £13k better off than we had expected to be.
Flnthlpy Methodst Chur¢h
IbKome and Expenditure A¢tount for Year 3tst AutU5t 2023
Year Endtng
315t Au
Year ETrdin8
31st Au
st 2022
Donations
Grft Aid
Interest ReCeiVa￿e
Letttn85
Renrs
Other Incorne
otsl Int4xne
26.502
24,109
18.944
1,391
41,772
53A(KI
13y7
35,177
51.290
Salar￿s & Payroll
Circur( Charge
Accountancy Fees
8ank Char8es
8ookeeping f
Repairs and Maintenance
Cleaning
Estate Agents Fees
Insurance
IT Support & Telephone
Orher Expenses
Payroll Fee5
13.939
45.998
11944
43,6(K)
462
93
2.485
16.031
lo￿22
7356
7.786
3.096
9834
7.194
4,701
3.109
7.289
3￿
12,1X)I
Its395
13,010
TolalExpeNl*¥r•
Incomè
Although income was down. the previous year figure was distorted due to a back-dated gifl aid claim.
The issue5 With gift-aid are ongoing and it is one area we can tighten up. No gtft aid was claimed dunng the
finaricial year. but as we have four years to claim. I will look al this.
Conversely our interest eamed has been much higher {due to interest rate increases), which has offset a
significant drop in lettings income. It is difficult to do a year-on-year Gomparison on lettings as beyond our
core lettings. there are a substantral number of ad-hoc bookings.
Overall though the In￿Me of £126k was exactly the same figure as budgeted.
Expenditure
The highest single item of expenditure is the circurt fees at £45k. followed by sataries at £14k and both of
these were on budget.
The largest underspend was on utiltlies- actual cost 01 £13k v a budgel of £29k. The budgel assumes the
massive increases we were seeiTrJ when the budget was sel bul this never malerialised ~ partly because
the government announced support packages. but probably also partly because we were very prudent
when budget setting as no-one had any idea of the levels at that time.

Repairs and rnaintenan￿ cosls were £10k. whith was much lower than Ihe premous yeaT- but the nature
of reactive maintenance really means we cannot plan for this. and we have to spend whatever is needed.
though having some prior oversight about quotes should mitigate against excessive costs.
Most of the other costs are insignificanL
Balance Sheet
The balance sheet remains very strong. at getting on for four years running ts)sls. so no concems al all.
One benefit of having a strong balance sheet is that at lasL our investments are giving us a retum.
Th8 accruals are mostly the circuit fees. which were paid after year*nd.
The only other thing to note is that the benevOl8n￿ fund is untouched - I would suggest utilising some of it
this year.
Finthley Methodist Chuith
8alance 5heel for Year Ending 3tst A￿￿$t 2023
31st Au st 2023
315t
t 2022
Cltrrent A55ets
CurrentAccounts
Oeposit Accounts
Totsl aank & Cash
79.197
411.
93.6B7
398.691
492,378
493.044
Current Li•lMliti
Accruals
36.51XJ
345
43,553
43.553
Totsl Ntt *3g•ts
449.491
Funds Anaws
Unrestrscted Funds
Restrirted- Benevolonce Fund
452.127
2.478
447x113
2,478
ll4