**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 larg*r 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 N*mb8rs. 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| - 17 - ## **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| - 21 - ## ## |**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 - 23 -