2021-08-31-accounts

Charity registration number 1133913

BARNES METHODIST CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

BARNES METHODIST CHURCH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Members of the Church Council
Charity number	1133913
Principal address	Barnes Methodist Church
	Station Road
	London
	SW13 0NH
Independent examiner	Sam Thomas FCA
	Azets
	Trinity Court
	34 West Street
	Sutton
	Surrey
	SM1 1SH
Bankers	Central Finance Board of the Methodist Church
	9 Bonhill Street
	London
	United Kingdom
	EC2A 4PE
	HSBC Bank plc
	172 Upper Richmond Road
	Putney
	London
	United Kingdom
	SW15 2SH
Solicitors	Methodist Insurance plc
	Brazenose Street
	Manchester
	United Kingdom
	M2 5AS
Investment advisers	The Trustees for Methodist Church Purposes
	Central Buildings
	Oldham Street
	Manchester
	United Kingdom
	M1 1JQ

BARNES METHODIST CHURCH

CONTENTS

	Page
Trustees' report	1 - 3
Independent examiner's report	4
Statement of financial activities	5 - 6
Balance sheet	7
Notes to the financial statements	8 - 24

BARNES METHODIST CHURCH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2021

The trustees present their annual report and financial statements for the year ended 31 August 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing documents, the Charities Act 2011 and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), effective from 1 January 2015.

Objectives and activities

The objective and policy of the trustees, both long term and short term, is to enable the church to function successfully at a local level alongside our local ecumenical partners, through the Richmond and Hounslow circuit with our neighbouring Methodist Churches and through the Methodist Connexion with our national and international community.

The purposes of the Methodist Church are, and have been since the date of the union, as set out in section 4 of the Methodist Church Act of 1976. The calling of the Methodist Church is to respond to the gospel of God's love in Christ and to live out its discipleship in worship and mission. The ministry includes:

Worship - The Church exists to increase awareness of God's presence and to celebrate God's love Evangelism - The Church exists to make more followers of Jesus Christ Learning and caring - The Church exists to help people to grow and learn as Christians, through mutual support and care

Service - The Church exists to be a good neighbour to people in need and to challenge injustice

Barnes Methodist Church exists to exercise the whole ministry of Jesus Christ, particularly in the local community

The church building is licensed for marriages and for funeral services.

The trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

After the closure due to Covid restrictions, the church reopened for worship on alternate Sundays from September. Increase in infections and care for the vulnerable in the church community led to a further closure from January until Easter. During this time no other church meetings in person were allowed, and the outreach work with the homeless was not allowed. Some limited lettings recommenced, under Covid guidelines.

Work to replace the roof started in February. This included installation of photovoltaic cells on part of the roof, as part of the commitment to care of the environment. Work was also done in the hall to install improved ventilation, to make the hall more suitable for use under covid guidelines.

• 1 -

BARNES METHODIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

Financial review

Incoming resources increased by 113.4% from £101,645 to £216,910 during the year, largely due to the fundraising and grants received for urgent repairs to the church roof.

Charitable expenditure increased to £369,095 compared with £124,192 in 2020. This includes apportioned support and governance costs which have decreased by 18.4% from £79,708 to £65,070. As a result an overall deficit of £145,906 (2020: £23,161) has been made before any gains from revaluation of the Church buildings.

The net assets of the Church at the year-end show a healthy balance sheet, mainly as a result of the inclusion of the Church building in the accounts at its valuation of £6,059,977 (2020: £5,750,000). Excluding tangible fixed assets, the total funds would be £213,967 (2020: £358,257).

The Church flat is let to a tenant placed there by the London Borough of Richmond upon Thames. The Borough Council is responsible for the payment of the rent to the Church.

The Church is again deeply indebted to the dedicated commitment, financial support, gifts in kind, work and selfsacrifice of our members in many ways, without which we, and the neighbourhood, would be much the poorer.

From time to time, the Church has surplus funds to invest on a short-term basis. Funds have traditionally been placed with the Central Finance Board of the Methodist Church, which has a record of prudent management and good returns, coupled with flexibility and ease of repayment. It is not likely in the near future that there will be many funds to invest, so obtaining comparisons with other similar bodies may have a very limited effect. However, when funds begin to accumulate, testing the market may be a more worthwhile exercise.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity registered with the Charity Commission on 1st February 2010, having previously taken advantage of the exception under Statutory Instrument 2002 (no. 1598). Its governing documents are the Deed of Union (1932) and the Methodist Church Act (1976).

The trustees who served during the year are listed in note 24 to the accounts.

The charity's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The charity's current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and

• pay in accordance with the charity's contractual and other legal obligations.

There were no trade creditors of the charity at the year end.

• 2 -

BARNES METHODIST CHURCH TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2021 Tho Bamos M¢lhodi8t Church 18 part of the Richmond 8nd Hounslow Clrcull of Methodlst churches. whlch it8oW 1$ part of the IAfger London Dislrid. The Circuit administers people. propety and finan¢e, and acts through ¢entral Clrcubt meetings. to whith repre$enlallve$ of each of the10¢g1 ¢hurche$ gttend. AJI di$lrict$ 9re rel8leQ lo eg¢h other through The Connexion, a ￿e￿Ork of support for all the churches in Great Britain. All districts. Circurts and Local Churches Bre conslrtuted in accordance with the practlces and dlsapllne of The Methodlst Church in Brrtain. 8&rne8 Melhodi8t Church ha5 its own Churth Council. ¥tho form the trustees. whlch makes dedsions affectlng the Church at 8 local level. Ther8 are no formal training proc8dure5 invofved in mernbership of the Churth Counal, which is yttlm8lely Ihe dpcisSon-makln9 body for B8Tne8 Methodl81 Churth. Fund• held *• eu•todlan trust•• The Church is anxious to ensure uood stewardshlp In all It8 dtr8fing8. Quattsrty update3 are prepared by the Tr&8sur8r ièview by the MBnagement Committee and Church Councll, and Blgnlficant Items are Inquired Into. Updates arè r8ported from limè to lime in the Newsletter, and annual pccoullls 8ro •v•ll8ble lo ¥ll mombtr$. An Annual Summary Is forward•d to th8 Clfcult In Iha aarfy part ol aach 8ucce•dlng yaar. Axrangemenl8 are In place for al monetary coll8Ctlon5 to be counted on the pTemi8es by at least tsyo people, In the Presen￿ of each other, before belng promplty banked to avoid unnecessary cash being kept on Ihe pr￿lSe6. Income Igx fapaymenl cl¥lm8 ara regularty prepared and wbrnltted. 1115 polley to pay all credltors wllhln aqreed credlt terms. A thorough thspection of th8 entlre premls88 18 carrled out evary flv• years by profas8lonal adVI￿rn trom th• Methodi31 Church Propety Office, whose wrillen Report Is acted upon wth appropriate urgency. A rlsk monagement pl¥n 1$ also In place which seeks to Identify the mosl slgnificant risks faced by the Church, th8lr likellhood of occurrence, and Iheir potential impact. It also indudes the safeguarding of children and young people, and indlcate8 wh81 a¢¢lon 1$ In pla¢¢ or planned lo ￿￿l￿ale each rS8k. R18kB are Ilkety lo lall Into four categorfe8'. external •nvlronment,' mls$lon and oulr•8th., flnan¢e'. ond intemgl Infra8lwucture. The plan is kept under conUnuou8 ￿VIeW. The trustees, report was approved by the Bogrd of Truslee$. rT8r Tru8t•• Dato.. 10 M. 1,2oQ4 14Yc

BARNES METHODIST CHURCH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF BARNES METHODIST CHURCH

I report to the trustees on my examination of the financial statements of Barnes Methodist Church (the charity) for the year ended 31 August 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no 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 the charity as required by section 130 of the 2011 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the applicable 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 financial statements to be reached.

Sam Thomas FCA Independent Examiner Azets Audit Services ICAEW

14/03/2024

Dated: .........................

Trinity Court 34 West Street Sutton Surrey SM1 1SH United Kingdom

• 4 -

Total		2020	£		22,969	77,537	1,139	101,645			220	123,972	-	124,192	(614)	(23,161)
Restricted Endowment	funds funds	2020 2020	£ £		12,570 -	925 689	- -	13,495 689			- 70	249 -	- -	249 70	- (614)	13,246 5
Unrestricted	funds	2020	£		10,399	75,923	1,139	87,461			150	123,723	-	123,873	-	(36,412)
Total		2021	£		118,406	94,918	3,586	216,910			218	122,921	245,956	369,095	6,279	(145,906)
Restricted Endowment	funds funds	2021 2021	£ £		102,890 -	179 631	- -	103,069 631			- 68	- -	81,900 -	81,900 68	- 6,279	21,169 6,842
Unrestricted	funds	2021	£		15,516	94,108	3,586	113,210			150	122,921	164,056	287,127	-	(173,917)
			Notes	Income and endowments from:	Donations and legacies 3	Investments 4	Other income 5	Total income and endowments	Expenditure on:		Raising funds 6	Charitable activities 7	Roof repair expenditure 12	Total expenditure	Net gains/(losses) on investments 13	Net (outgoing)/incoming resources before transfers

Total		2020	£	(23,161)	-	(23,161)		692,984	669,823	5,446,113	6,115,936
Restricted Endowment	funds funds	2020 2020	£ £	13,246 5	458 (619)	13,704 (614)		- -	13,704 (614)	134,293 50,212	147,997 49,598
Unrestricted	funds	2020	£	(36,412)	161	(36,251)		692,984	656,733	5,261,608	5,918,341
Total		2021	£	(145,906)	-	(145,906)		309,977	164,071	6,115,936	6,280,007
Restricted Endowment	funds funds	2021 2021	£ £	21,169 6,842	(88,601) (562)	(67,432) 6,280		- -	(67,432) 6,280	147,997 49,598	80,565 55,878
Unrestricted	funds	2021	£	(173,917)	89,163	(84,754)		309,977	225,223	5,918,341	6,143,564
			Notes	Net (outgoing)/incoming resources before transfers	Gross transfers between funds	Net (outgoing)/incoming resources	Other recognised gains and losses	Revaluation of tangible fixed assets	Net movement in funds	Fund balances at 1 September 2020	Fund balances at 31 August 2021

BARNES METHODIST CHURCH BALANCE SHEET AS AT31 AUGusf2021 2021 2020 Not•B Flx•d •u¢t• Tangible 858ets Investments 15 8.086,040 115,560 5,757,679 109,281 6.181,600 5,866,960 Curr•nt ••••t• Debtors Cash gt bank and kn hand 17 13.142 179.317 17,380 243,424 192,459 260,784 Credltorn: amount• f•lllng du• wtthln one y••r 18 {94.0521 111,8081 Nal current •se•t• 98,407 248,978 Tot•1 ••*•ts IM• ¢urr•nt 11obllltl•• 8,280,1107 6,115,938 Capllal fund• Perm8nenl end¢)wment Expendable endovlinenl 40,483 15,395 34.203 15.395 55,878 49,598 Income fund• Restricted fund8 20 80,585 147,997 Designated lunds General unrestrlcled fvnd8 R8v8luatlon ras•N8 21 2.257 3,229,594 2,911,713 1,757 3,314,848 2,801,736 6,143,584 5.916,341 8.280,007 8.115,936 The a¢¢ounls wer¢ approved by Ihe TfU81ee8 on ......................... arrar Truste•

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

Charity information

Barnes Methodist Church is a registered charity with the Charity Commission and its governing documents are the Deed of Union (1932) and the Methodist Church Act (1976). The registered office is Barnes Methodist Church, Station Road, London, SW13 0NH.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing documents, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. The Church has one Permanent Endowment; a Legacy which was left some years ago by M G Calvert to provide a regular income for musical and cultural purposes. It is invested with The Trustees for Methodist Church Purposes.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

• 8 -

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

Barnes Methodist Church welcomes all legacies and gifts in memoriam. Legacies are a valuable source of income, and the Church has benefited considerably over the years from the generous provision by members and adherents for its continuing work after their death. Legacies may be earmarked for specific activities or concerns, for example youth work, maintenance of the organ, or simply to support on-going work. Legacies are recognised on date of receipt.

1.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are recognised on an accruals basis and allocated between costs of generating funds, charitable activities and governance costs.

Governance costs represent all costs incurred in maintaining and running the Church buildings and meeting all legal and financial reporting requirements. Support and governance costs are apportioned to charitable activities on the proportion of the direct costs incurred.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment 5% - 10% straight-line, per annum Computers 33% straight-line, per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

No depreciation is provided in terms of freehold land.

After taking advice from the Charity Commission, in conjunction with the Methodist Property Office, the Church building and the school property need to be included on the Balance Sheet, at their insured value as determined by Methodist Insurance plc. An adjustment is made every year (where material) as an unrealised gain.

It has been identified from the SORP (FRS 102) that historic Churches are unlikely to meet the heritage asset definition, as the preservation of the buildings they occupy is unlikely to be the primary objective of the Charity. Churches therefore do not qualify as a heritage asset and thus cannot be included at nil cost.

• 9 -

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the charity holds a long-term interest and where the charity has significant influence. The charity considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

• 10 -

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

1 Accounting policies

(Continued)

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Taxation

As a charity, the Church benefits from Rates Relief and is exempt from direct tax on its charitable income and, because they are specifically exempted or regarded as de minimus, its fundraising activities. We are therefore able to recover, through Gift Aid, the tax already suffered by donors from their income. In 2021 this amounted to £3,586 (2020: £1,139).

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The significant estimations are considered to be depreciation of fixed assets and the valuation of the church at the year end.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted funds funds £ £ Donations and gifts 15,516 990 Other charitable income - 101,900 15,516 102,890 For the year ended 31 August 2020 10,399 12,570	Total 2021 £ 16,506 101,900 118,406	Total 2020 £ 19,784 3,185
		22,969
		22,969

• 11 -

	Total			2020	£	75,059		1,333	1,145	77,537
	Restricted Endowment	funds funds	general	2020 2020	£ £	- -		- 689	925 -	925 689
	Unrestricted	funds		2020	£	75,059		644	220	75,923
	Total			2021	£	93,833		884	201	94,918
	Restricted Endowment	funds funds	general	2021 2021	£ £	- -		- 631	179 -	179 631
	Unrestricted	funds		2021	£	93,833		253	22	94,108
Investments						Rental income	Dividends and interest received on TMCP	investments	Interest receivable
4

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

5 Other income

	**Unrestricted **	Unrestricted
	funds	funds
	2021	2020
	£	£
Gift aid reclaimed	3,586	1,139

• 13 -

	Total			2020	£	220		220
	Unrestricted Endowment	funds funds	general	2020 2020	£ £	150 70		150 70
	Total			2021	£	218		218
	Unrestricted Endowment	funds funds	general	2021 2021	£ £	150 68		150 68
Raising funds						Investment management
6

	Total	2020			£	42,650	1,614	72,820		6,888		123,972			123,723	249
	Assessment	by Circuit		2020	£	40,986	-	68,138		6,445		115,569			115,569	-
	Benevolent	Fund		2020	£	249	-	414		39		702			453	249
	Grants and Worship and	donations Young	People	2020 2020	£ £	- 1,415	1,614 -	2,683 1,585		254 150		4,551 3,150			4,551 3,150	- -
	Total	2021			£	56,904	947	59,166		5,904		122,921			122,921	-
	Assessment	by Circuit		2021	£	56,328	-	57,609		5,749		119,686			119,686	-
	Worship and	Young People		2021	£	576	-	589		58		1,223			1,223	-
	Grants and	donations		2021	£	-	947	968		97		2,012			2,012	-
Charitable activities						Direct costs	Grant funding of activities (see note 8)	Share of support costs (see note 9)		Share of governance costs (see note 9)				Analysis by fund	Unrestricted funds	Restricted funds
7

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

8 Grants payable

	2021	2020
	£	£
Grants to institutions:
Other	947	1,614

9 Support costs

Support costs Governance costs £ £ Staff costs - - Depreciation 1,617 - Utilities 18,968 - Property costs 28,207 - Administrative costs 10,374 - Independent Examiner's fees - 5,904 59,166 5,904 Analysed between Charitable activities 59,166 5,904	2021 £ - 1,617 18,968 28,207 10,374 5,904 65,070 65,070	2020 Basis of allocation £ 6,830 Proportion of direct 1,849 Proportion of direct 15,938 Proportion of direct 30,803 Proportion of direct 17,400 Proportion of direct 6,888 Governance 79,708 79,708

6,830 Proportion of direct costs 1,849 Proportion of direct costs 15,938 Proportion of direct costs 30,803 Proportion of direct costs 17,400 Proportion of direct costs

Governance costs includes independent examiner's fees of £4,920 (2020 - £4,920).

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year. No payments were made to Trustees during the year for expenses, however this does not include reimbursement for the purchase of items where the trustee was acting on the Church's behalf.

11 Employees

The average monthly number of employees during the year was:

2021	2020
Number	Number
-	1

• 16 -

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

11 Employees Employment costs Wages and salaries Social security costs Other pension costs	(Continued) 2021 2020 £ £ - 6,695 - 80 - 55 - 6,830	(Continued) 2021 2020 £ £ - 6,695 - 80 - 55 - 6,830
		6,830

There were no employees whose annual remuneration was more than £60,000.

12 Roof repair expenditure

Unrestricted Restricted funds funds 2021 2021 £ £ Roof repair costs 164,056 81,900 164,056 81,900	Total 2021 £ 245,956 245,956	Total 2020 £ -
		-

13 Net gains/(losses) on investments

	**Endowment **	Endowment
	funds	funds
	general	general
	2021	2020
	£	£
Revaluation of investments	6,279	(614)

14 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

15 Tangible fixed assets

Tangible fixed assets
Cost or valuation At 1 September 2020 Revaluation At 31 August 2021 Depreciation and impairment At 1 September 2020 Depreciation charged in the year At 31 August 2021 Carrying amount At 31 August 2021 At 31 August 2020	Land and buildings £ 5,750,000 309,977 6,059,977 - - - 6,059,977 5,750,000	Fixtures, fittings & equipment £ 24,418 - 24,418 16,738 1,617 18,355 6,063 7,679	Computers £ 3,049 - 3,049 3,049 - 3,049 - -	Total £ 5,777,467 309,977
				6,087,444
				19,787 1,617
				21,404
				6,066,040
				5,757,679

Land and buildings with a carrying amount of £6,059,977 were revalued by the Trustees as at 31st August 2021 based on the insurance value by Methodist Insurance plc.

At 31 August 2021, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £nil (2020 - £-).

Not included in fixed assets is an organ, purchased in 1925, which has an insurance value of £586,725 (2020 - £586,725). This has not been capitalised due to its unique nature and inability to obtain an accurate market value for the asset.

16 Fixed asset investments

Cost or valuation At 31 August 2020 Valuation changes Income Charges and transfers At 31 August 2021 Carrying amount At 31 August 2021 At 31 August 2020	Calvert Legacy £ 75,078 - 252 (252) 75,078 75,078 75,078	Various Bequests £ 34,203 6,279 631 (631) 40,482 40,482 34,203	Total £ 109,281 6,279 883 (883)
			115,560
			115,560
			109,281

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BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

16 Fixed asset investments

(Continued)

The Hannah Elizabeth Gentry Bequest de-registered as a charity during 2006. It holds investments under the terms of Miss Gentry's Will, which are managed by the Trustees for Methodist Church Purposes and the Central Finance Board of the Methodist Church, and disbursements are made by trustees appointed by Barnes Methodist Church Council. The net increase in the year was £4,371 (2020 - decrease of £395). The total value of the investments held by the Trust is £33,077 (2020 - £28,706).

17 Debtors

17 Debtors
Amounts falling due within one year: Prepayments and accrued income 18 Creditors: amounts falling due within one year Other creditors Accruals and deferred income	2021 £ 13,142 2021 £ 88,148 5,904 94,052	2020 £ 17,360
		2020 £ 5,904 5,904
		11,808

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Endowment funds	Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects	of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.	Movement in funds Movement in funds	Balance at Incoming Transfers Gains and Fund Balance at Incoming Transfers Gains and Fund Balance at	1 September resources losses management 1 September resources losses management 31 August	2019 costs 2020 costs 2021	£ £ £ £ £ £ £ £ £ £ £	Permanent endowments	Miss M G Calvert	legacy 34,817 688 (618) (614) (70) 34,203 631 (562) 6,279 (68) 40,483	Expendable endowments	Amounts held in	HSBC	Community	Account 14,495 - - - - 14,495 - - - - 14,495	Constant amount	from General	funds 900 - - - - 900 - - - - 900	50,212 688 (618) (614) (70) 49,598 631 (562) 6,279 (68) 55,878
19

Restricted funds	The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:	Movement in funds Movement in funds	Balance at Incoming Outgoing Transfers in / Balance at Incoming Outgoing Transfers in / Balance at	1 September resources resources (out) 1 September resources resources (out) 31 August	2019 2020 2021	£ £ £ £ £ £ £ £ £	Property Reserve Fund 119,115 853 - - 119,968 20,165 - (70,000) 70,133	Organ Fund 10,100 72 - - 10,172 14 - - 10,186	Benevolent Fund 2 216 (249) 31 - - - - -	Roof Fund 5,076 12,022 - 427 17,525 990 - (18,269) 246	The Barnes Workhouse Fund - - - - - 50,000 (50,000) - -	Amounts received on behalf of other	charities - 332 - - 332 - - (332) -	R & H Circuit roof grant - - - - - 20,000 (20,000) - -	All Churches Trust - - - - - 11,900 (11,900) - -	134,293 13,495 (249) 458 147,997 103,069 (81,900) (88,601) 80,565		The Property Reserve Fund is for the maintenance of the Church buildings. During the year, £20,000 was received from the London Committee Building Project towards	the repair works required to the roof of Barnes Methodist Church. £70,000 was transferred out for this work during the year.	Grants were also received from The Barnes Workhouse Fund of £50,000, The Richmond & Hounslow Methodist Church Circuit of £20,000, and the All Churches Trust of	£11,900. These grants were all received to fund the repair works required to the roof of the church.	The Benevolent Fund is for identified benevolent purposes. Transfer were received from unrestricted funds in respect of the Ministers Discretionary Fund and a gift aid	claim.	The John Hodgson and Jim Rentell Funds were created to provide funds towards Organ tuning and newsletter costs. These now constitute the Organ Fund.
20

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

21 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

			Movement		Movement
			in funds		in funds
		Balance at	Incoming	Balance at	Incoming	Balance at
	1	September	resources	1 September	resources	31 August
		2019		2020		2021
		£	£	£	£	£
Ministers Discretionary Fund		1,457	300	1,757	500	2,257
		1,457	300	1,757	500	2,257

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	Total		2020	£			5,757,679	109,281	248,976	6,115,936
	Endowment	Funds	2020	£			-	34,203	15,395	49,598
	Restricted	Funds	2020	£			-	-	147,997	147,997
	Total Unrestricted	Funds	2021 2020	£ £			6,066,040 5,757,679	115,560 75,078	98,407 85,584	6,280,007 5,918,341
	Endowment	Funds	2021	£			-	40,482	15,396	55,878
	Restricted	Funds	2021	£			-	-	80,565	80,565
	Unrestricted	Funds	2021	£			6,066,040	75,078	2,446	6,143,564
Analysis of net assets between funds					Fund balances at 31 August 2021 are represented	by:	Tangible assets	Investments	Current assets/(liabilities)
22

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021

23 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

24 Trustees

Rev G Farrar Rev C Lupi (Appointed 1 September 2020 / Resigned 31 August 2022) Mr P Blow Mrs V Isaac Mrs D Davies Mr I Haddow Miss V Hearn Mrs B Jones Mr E Jones (Resigned 31 August 2023) Mr C Moorhouse Mrs F Moorhouse Mrs M Withall Mr M Benneworth Mrs E Cunningham

• 24 -