2022-08-31-accounts

Charity registration number 1133913

BARNES METHODIST CHURCH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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 - 23

BARNES METHODIST CHURCH

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2022

The trustees present their annual report and financial statements for the year ended 31 August 2022.

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

The congregation was able to meet for worship throughout this year, and were able to hold some meetings in person, while others continued by zoom.

The outreach work with the homeless over the winter was not allowed by Richmond Council.

The trustees agreed to register the church for marriages of same sex couples, and the application was made to the borough registrar.

The lettings continued to grow back after the Covid restrictions, with some previous groups returning some new groups using the premises.

• 1 -

BARNES METHODIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

Financial review

Incoming resources decreased by 51.4% from £216,910 to £105,382 during the year. Income was higher in 2021 due to the fundraising and grants received for urgent repairs to the church roof.

Charitable expenditure decreased to £268,804 compared with £369,095 in 2021. This includes apportioned support and governance costs which have increased by 2.3% from £65,070 to £66,591. As a result an overall deficit of £165,965 (2021: £145,906) 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 £6,240,000 (2021: £6,059,977). Excluding tangible fixed assets, the total funds would be £49,177 (2021: £213,967).

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 reduced throughout the year due to the ongoing costs of repairing the roof. The Church continues to receive support from the Richmond & Hounslow Circuit and is confident in re-establishing its reserves over the coming years.

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 2022 The Barn8s Methodist Chur¢h is part of the RichnY)nd and Hounslow Circuf( of Melhodist ehurches, ￿leh itsèlf is part of the largr London District. Th8 Circurt administers people. property and finance, and acts Ihrough central ¢ir¢uf( meètings. to which representatwes of each of the local churches atton¢J. Al distrtcts are related to each other through The Connaxion. 8 nefyyork of support for all the churches in Gieat 8ritsin. All districts, Circuits and Local Churches afè con5tstuted in accordanc8 wrth the pra¢tKes and discipline of The mèthtsd￿t Church in Bfitain. Barnes Mèthodist Church h8s ts own Church Council, who form the tnjsteès, wh￿h makes dècisions affeding th8 Church 81 a loeal level. There are no formal training procedures involved ia membership of the Churth Council, which 15 ￿￿'mat￿lY the decisKJn-makEng body for 88mes Methodist Church. Funds h•ld as custodian tru¥1 The Church is anxious to ensure good stwid5hip in all its de8lings. Qvarterfy updates are prepared by the Treasurer for revièw by the Manag6m8nl Committee and Chufch Couneil, and significant rtèms are inqured into. Updates are rèported from tim? to bme in thè N8wsletter, and annual accounts ara available to a51 Nmb8rs. An Annual Summary ¢s foThwaftlèd to the Circurt in thg earty part of eath succ••din9 year. ATrangen*nts are in place for 811 monetary collection5 to be counted on the premisès by * least tr40 peoplè. in the p¥esence gf each othèr. before being promptly banked to avoid unnecessary cash being kept on the premises. In¢orne lax repayrrent clatms are regulafly Pfeparad and submrtted. It is policy to pay all credrtOTS Wrthin agreed credrt terms A thorough inspection of thè entire premisès 1$ ¢arried out evèry fve years by professional advisèts from the Methodist Church Property Office, whose wrrtten Report is aded upon with approp¥iale urgency A risk management pLAn is also in place which sèèks to identr'fy thè most signiftcant risks faced by thè Church, Ih&ir likelihood of occurrence, and their potential impact. tt also in¢ludes the safeguarding of chil¢Jren and young people, and indicates what a¢ts'on is in pl8¢e or plann8d to mitigate each nsk. Risks arè likety to fall into four categories.. exlernal environment," mission and outreach. finance., and Inlemal Infrastruct￿re The plan is kèpt under continuous ravièw. The trustees, report was approvéd by th8 BoaTd of Trusta85. arrar Trustse D8te". 15" M.-K. 20£

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 2022.

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 15/03/2024 Dated: .........................

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

• 4 -

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)
Total		2022	£		10,640	94,742	-	105,382			329	106,476	161,999	268,804	(2,543)	(165,965)
Restricted Endowment	funds funds	2022 2022	£ £		670 -	219 983	- -	889 983			- 115	43 -	- -	43 115	- (2,543)	846 (1,675)
Unrestricted	funds	2022	£		9,970	93,540	-	103,510			214	106,433	161,999	268,646	-	(165,136)
			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		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
Total		2022	£	(165,965)	-	(165,965)		180,023	14,058	6,280,007	6,294,065
Restricted Endowment	funds funds	2022 2022	£ £	846 (1,675)	(70,805) (867)	(69,959) (2,542)		- -	(69,959) (2,542)	80,565 55,878	10,606 53,336
Unrestricted	funds	2022	£	(165,136)	71,672	(93,464)		180,023	86,559	6,143,564	6,230,123
			Notes	Net (outgoing)/incoming resources before transfers	Gross transfers between funds	Net outgoing resources	Other recognised gains and losses	Revaluation of tangible fixed assets	Net movement in funds	Fund balances at 1 September 2021	Fund balances at 31 August 2022

BARNES METHODIST CHURCH BALANCE SHEET ASAT31 AUGUST2022 2022 2021 Notes Fixed as*$ Tangible assets Investrnenls Is 16 6,244,888 113,016 6,066,040 115.560 6.357,904 6,181,600 Current assets Debtors Cash at bank and in hand 17 3,647 32.470 13.142 179,317 36.117 1¥2,459 Creditors: amourts falllng due wlthln one year 18 199,9561 194.0521 Nèt current (liabiliti&S￿￿ssgtS 163,8391 98.407 TotsI assets less curr•nt 114bilitie 6,294,065 6,280,007 Capltal funds Pemianent &nd<)wment Expendable endowment 37.941 15,395 40,483 15,395 19 53.336 55,878 Income fund¥ Restricted hJnds 20 10.606 80.565 Designated funds General unrestricted funds Revaluation r8serve 21 1,957 3,136,430 3,091,736 2,257 3,229,594 2.911.713 6,230,123 6,143,564 6.294,065 6,280,007 The accounts were approvod by thè TnJste•s oft ............. ........... loo Trustee

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

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 2022

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 2022

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 2022

1 Accounting policies

(Continued)

1.11 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 2022 this amounted to £nil (2021: £3,586).

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 9,970 670 Other charitable income - - 9,970 670 For the year ended 31 August 2021 15,516 102,890	Total 2022 £ 10,640 - 10,640	Total 2021 £ 16,506 101,900
		118,406
		118,406

• 11 -

	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
	Total			2022	£	93,174		1,335	233	94,742
	Restricted Endowment	funds funds	general	2022 2022	£ £	- -		- 983	219 -	219 983
	Unrestricted	funds		2022	£	93,174		352	14	93,540
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 2022

5 Other income

	**Total **	Unrestricted
		funds
	2022	2021
	£	£
Gift aid reclaimed	-	3,586

• 13 -

	Total			2021	£	218		218
	Unrestricted Endowment	funds funds	general	2021 2021	£ £	150 68		150 68
	Total			2022	£	329		329
	Unrestricted Endowment	funds funds	general	2022 2022	£ £	214 115		214 115
Raising funds						Investment management
6

	Total	2021			£	56,904	947	59,166		5,904		122,921			122,921	-	122,921
	Grants and Worship and Assessment	donations Young by Circuit	People	2021 2021 2021	£ £ £	- 576 56,328	947 - -	968 589 57,609		97 58 5,749		2,012 1,223 119,686			2,012 1,223 119,686	- - -	2,012 1,223 119,686
	Total	2022			£	39,755	130	55,610		10,981		106,476			106,433	43	106,476
	Assessment	by Circuit		2022	£	38,205	-	53,268		10,518		101,991			101,991	-	101,991
	Worship and	Young People		2022	£	1,550	-	2,161		427		4,138			4,095	43	4,138
	Grants and	donations		2022	£	-	130	181		36		347			347	-	347
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 2022

8 Grants payable

	2022	2021
	£	£
Grants to institutions:
Other	130	947

9 Support costs

Support costs Governance costs £ £ Depreciation 1,787 - Utilities 13,644 - Property costs 30,698 - Administrative costs 9,481 - Independent Examiner's fees - 5,904 Legal and professional - 5,077 55,610 10,981 Analysed between Charitable activities 55,610 10,981	2022 £ 1,787 13,644 30,698 9,481 5,904 5,077 66,591 66,591	2021 Basis of allocation £ 1,617 Proportion of direct costs 18,968 Proportion of direct costs 28,207 Proportion of direct costs 10,374 Proportion of direct costs 5,904 Governance - Governance 65,070 65,070

Governance costs includes independent examiner's fees of £5,904 (2021 - £5,904).

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:

	2022	2021
	Number	Number
Total	-	-

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

• 16 -

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

12 Roof repair expenditure

	Unrestricted	Unrestricted	Restricted	Total
	funds	funds	funds
	2022	2021	2021	2021
	£	£	£	£
Roof repair costs	161,999	164,056	81,900	245,956
	161,999	164,056	81,900	245,956
Net gains/(losses) on investments
			**Endowment **	Endowment
			funds	funds
			general	general
			2022	2021
			£	£
Revaluation of investments			(2,543)	6,279

13 Net gains/(losses) on investments

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.

15 Tangible fixed assets

Tangible fixed assets
Cost or valuation At 1 September 2021 Additions Revaluation At 31 August 2022 Depreciation and impairment At 1 September 2021 Depreciation charged in the year At 31 August 2022 Carrying amount At 31 August 2022 At 31 August 2021	Land and buildings £ 6,059,977 - 180,023 6,240,000 - - - 6,240,000 6,059,977	Fixtures, fittings & equipment £ 24,418 - - 24,418 18,355 1,617 19,972 4,446 6,063	Computers £ 3,049 612 - 3,661 3,049 170 3,219 442 -	Total £ 6,087,444 612 180,023
				6,268,079
				21,404 1,787
				23,191
				6,244,888
				6,066,040

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BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

15 Tangible fixed assets

(Continued)

Land and buildings with a carrying amount of £6,240,000 were revalued by the Trustees as at 31st August 2022 based on the insurance value by Methodist Insurance plc.

At 31 August 2022, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £nil (2021 - £-).

Not included in fixed assets is an organ, purchased in 1925, which has an insurance value of £586,725 (2021 - £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 2021 Income Charges and transfers At 31 August 2022 Carrying amount At 31 August 2022 At 31 August 2021	Calvert Legacy Various Bequests £ £ 75,078 40,482 352 982 (352) (3,526) 75,078 37,938 75,078 37,938 75,078 40,482	Total £ 115,560 1,334 (3,878)
		113,016
		113,016
		115,560

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 decrease in the year was £2,453 (2021 - increase of £4,371). The total value of the investments held by the Trust is £30,624 (2021 - £33,077).

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	2022 £ 3,647 2022 £ 94,052 5,904 99,956	2021 £ 13,142
		2021 £ 88,148 5,904
		94,052

• 18 -

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	2020 costs 2021 costs 2022	£ £ £ £ £ £ £ £ £ £ £	Permanent endowments	Miss M G Calvert	legacy 34,203 631 (562) 6,279 (68) 40,483 983 (867) (2,543) (115) 37,941	Expendable endowments	Amounts held in	HSBC	Community	Account 14,495 - - - - 14,495 - - - - 14,495	Constant amount	from General	funds 900 - - - - 900 - - - - 900	49,598 631 (562) 6,279 (68) 55,878 983 (867) (2,543) (115) 53,336
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	2020 2021 2022	£ £ £ £ £ £ £ £ £	Property Reserve Fund 119,968 20,165 - (70,000) 70,133 176 - (70,000) 309	Organ Fund 10,172 14 - - 10,186 43 - - 10,229	Roof Fund 17,525 990 - (18,269) 246 565 (43) (700) 68	The Barnes Workhouse Fund - 50,000 (50,000) - - - - - -	Amounts received on behalf of other	charities 332 - - (332) - 105 - (105) -	R & H Circuit roof grant - 20,000 (20,000) - - - - - -	All Churches Trust - 11,900 (11,900) - - - - - -	147,997 103,069 (81,900) (88,601) 80,565 889 (43) (70,805) 10,606		The Property Reserve Fund is for the maintenance of the Church buildings. During the year, £70,000 was transferred out as part of an ongoing project to repair the	Church roof.	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 2022

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
			in funds
		Balance at	Incoming	Balance at	Resources	Balance at
	1	September	resources	1 September	expended	31 August
		2020		2021		2022
		£	£	£	£	£
Ministers Discretionary Fund		1,757	500	2,257	(300)	1,957
		1,757	500	2,257	(300)	1,957

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Total		2021	£			6,066,040	115,560	98,407	6,280,007
Endowment	Funds	2021	£			-	40,482	15,396	55,878
Restricted	Funds	2021	£			-	-	80,565	80,565
Total Unrestricted	Funds	2022 2021	£ £			6,244,888 6,066,040	113,016 75,078	(63,839) 2,446	6,294,065 6,143,564
Endowment	Funds	2022	£			-	37,938	15,398	53,336
Restricted	Funds	2022	£			-	-	10,606	10,606
Unrestricted	Funds	2022	£			6,244,888	75,078	(89,843)	6,230,123
				Fund balances at 31 August 2022 are represented	by:	Tangible assets	Investments	Current assets/(liabilities)

BARNES METHODIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2022

23 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

24 Trustees

Rev G Farrar Rev C Lupi (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

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