Charity regislration number 1133913 BARNES METHODIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
BARNES METHODIST CHURCH LEGALAND ADMINISTRATIVE INFORMATION Trustees Members of the Church Council Charity nurnber 1133913 Principal address Bames Methodist Church Station Road London SW13 ONH Independent examiner Sam Thomas FCA Azets Trinity Court 34 West Street Sutton Surrey SM1 1SH Bankers Central Finance Board of th@ Methodist Church 9 Bonhill Street London United Kingdom EC2A 4PE HSBC Bank plc 172 Upper Richmond Road Putney London United Kingdorn SW15 2SH Sollcitors Methodist Insurance plc Brazenose Street Manchester United Kingdom M2 SAS Investment advisers The Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester United Kingdom M1 1JQ
BARNES METHODIST CHURCH CONTENTS Pagè Trustees, report Independent examinels report Statement of financial activities Balance sheet Notes to the financial statements 8-22
BARNES METHODIST CHURCH TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their annual report and financial statements for Ihe year ended 31 August 2024_ 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 2019. Objectlves and activltles The objective and policy of the trustees, both long temi and short term. is to enable the church to function SUCSsfUllY al a loe8118vel 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 intemational community. The purposes of the Methodist Church are, and have been since the daté of the union, as set out in section 4 of the Melhodist Church Act of 1978. The calling of th6 Methodist Church is to respond to th8 gospel of God's love in Christ and lo live out ils discipleship in worship and mission. The ministry includes: Worship.. The Church exists lo increase awareness of God's presence and lo celebrate God's love. Evangelism- The Church exisls to mak8 more followers ofJesus Christ. Learning and caring- The Church exists to help people lo grow and leam 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 exist5 to exercise the whole ministry of Jesus Christ. particularly in the local community. The church building is licensed for marriages including of same sex couples and for funeral services. The Iruslees have paid due regard to guidance on public benefit 1S5ued by the Charity Commission in deciding whal activities the charity should undertake. Achievements and performance The congregation continued to me61 for worship and fellowship on Sundays. and for bible study on weekdays. Worship and bible studies are open to all. The church hosted a night shelt6r in collaboration with Glass Door on Saturday nights throughout the winter months. It additionally provided somè lunches for those in need as part of the Richmond Sunday Lunch Scheme.
BARNES METHODIST CHURCH TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Flnancial review Incoming resources d8Greased by 17.9ts/ts from £176,815 in 2023 to £150,855 for the y6ar. Th8 decreasè has been driven by an a fall in income relating lo donations and legacies, with investment income seein9 an increase on the year prior. Charitable expenditure increased by 7°h in comparision to Ihe previous year tolalling £132,671 {2023- £123,987). This includes apportioned support and govemance costs which have increased by 38.70/0 from £68,836 to £95,454. As a result an overall surplus of £20,74812023.' £51,217) has been made before any gains from revaluation of the Church buildings. The net assets of the Church al the year-end show a healthy balance sheet, mainly as a re5uII of the inclusion of the Church building in the accounts at its valuation of £7,042,021 {2023-. £6,870,319). Excluding tangible fixed assets, the total funds would be £118,82412023.' £99,176). The Church flat is let to a tenant placed there by the London Borough of Richmond upon Thames. Tho Borough Council is responsible for the payment of the rent lo the Church. The Church is again deeply indebted lo Ihe dedicated commitment. financial support, gifts in kind, work and self- Sacrifi 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 lo invest, $0 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 unrestricled funds which have not been designated for a specrfic use should be maintained at a level equivalent to bekneen three and six months, expenditure. The trustees ¢onsidei that reserves at this level will ensure that, in the event of a significant drop in funding, they will be 8ble to continue the charily'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 thè ongoing costs of repairing the roof. The Church eontinues to receive support from the Richmond & Hounslow Circuit and is confident in re-establishing ils reserves over the Coming years. The trustees havé 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 charily registered with the Charity Commission on 1 st February 2010, having pr8viously tsken advantage of the exception under Statutory Instrument 2002 {no. 1598). Its governing documents are th8 Deed of Union (1932) and the M6thodist Church Acl11976). The trustees who served durlng the year are listed in note 23 to the accounts. The charitws current policy conceming the payment of trade creditors is to follow th& CBI'S Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU}. The charivs current policy Goncerning the payment of trade creditors is to.. settle the terms of payment with suppliers when agreeing the tenns of each transaction,, ensure that supplièrs are made aware of the tèrms of payment by inclusion of th8 relevant terms in contracts. and pay in accordance with the charily's contractual and other legal obligations. There were no trade creditors of the charity at the year end.
BARNES METHODIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The Bames Methodisl Church is part of the Richmond and Hounslow Circuil of Methodist churches, which itself is part of the larger London District. The Circuit adminislers people, property and finance, and acts through central Circuit meetings, to which representstives of each of the local churches attend. All districts are related to each other through The Connexion, a network of support for all the churches in Great Britain. All districts, Circuits and Local Churches are constituted in accordance with the practices and discipline of The Methodist Church in Britain. Barnes Methodist Church has its own Church Council, who form the trustees, which makes decisions affecting the Church al a local level. There are no formal training procedures Involved in membership of the Church CounGil, which is ultimately the decislon-making body for Bames Methodist Church. Funds held as custodian trustee The Church is anxious to ensure good stewardship in all ils dealings. Quartetly updates are prepared by the Treasurer for review by Ihe Management Committee and Church Council, and significant it8ms are inquired into. Updates are reported from time lo time in the Newsletter, and annual accounts are available to all members. An Annual Summary is forwarded to the Circuit in the early part of each succeeding year. Arrangements ar8 in place for all monetsry collections lo be counted on thè premises by al least fyvo people, in the presence of each other, before being promptly banked to avoid unnecessary cash being kept on the premises. It is policy to pay all creditors within agreed credit terms. A thorough inspection of the entire premises is carried out every five years by professional advisers from the Methodist Church Property Office, whose written Report is acted upon with appropriate urgency. A risk management plan is also in place which seeks to identify the most significant risks faced by Ihe Church, their likelihood of o¢¢urrence, and their potential impact. 11 also includes the safeguarding of children and young p60ple, and indicates what action is in place or planned to mitigate each risk. Risks are likely to fall into four categories= external environmenl,. mission and outreach., finance. and intemal infrastructure. The plan is kept under continuous review. The trustees, report was approved by the Board of Truslees. Trustee 2025
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 slalements of Barnes Methodist Church {Ihe charilyl for the year ended 31 August 2024. Responsibllltles and basls of roport As the trustees of the charity you are responsible for the preparation of the financial statemen15 in accordance with the reqUrementS ol the Charities Act 2011 Ilhe 2011 Acl}. I report in respecl 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}Ib} of the 2011 Act Independent èxamlnerfs slatement I have completed my examination. I confinn Ihat no matters have ¢ome to my attention in connection wilh the examination giving me cause lo believe that in any material respect- accounting records were not kept in respeGt of the Charity as required by section 130 of the 2011 Act,. or the financial slalemenls do not accord with those records., or 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 accounls give a true and fair view which is not a matter considered as part of an independent examination. I have no con¢ems and have come across no olher mallers in connection with the examination lo which attention should be drawn in this report in oriler to enable a proper understanding of the financial statements lo be reached. Sam Thomas FCA Independent Examiner Azels Audit Services ICAEW Trinity Court 34 Wesl Street Sullon Surrey SM1 1SH United Kingdom ob
BARNES METHODIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted R•strlct8d et)dowment lunds funds fund5 2024 2024 2024 Totsl UnM8tricted Réstrlttèd Endment fund8 fvnds fund$ 20YJ 2023 2023 Total 2024 2023 Income from.. DonatK)ns snd legae8 InvestmBnts 14,711 134.476 14.711 136.144 31.124 123.668 20,518 366 51.642 125.173 571 1.097 Total In¢omo and tndvwm•nts 149.187 571 1,097 150,855 154.812 20,884 176,815 ndlture on: Rai$ing funds 143 104 247 214 322 haritsb aclmlies 132.656 15 132,671 112,364 452 112.816 Roof repalrexpendilure 11 10.849 10,849 Total oxpondllure 132,799 304 132,918 123.427 452 123,987 Net galnslllossesl on Invèstrnènts 12 2.811 2.B11 N•t Inwmlng re¥ourGo• boforotran8ler8 16,388 556 3,804 20.748 31.385 20,432 16001 51.21T
BARNES METHODISTCHURCH STATEMENT OF FINANCIAL ACTIVITIES {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2024 Unrestrlct Rèstri¢ted Endowmont funds funds fund$ 2024 2024 2024 Tol•l Unr¥lrlcted R¢strfclod Endovthènt fund$ fundi 2023 2023 Tolal 24 2023 2023 Plr4¢¢8 Ntt incoming resourc befor6 transfèr 16.388 20,748 31.385 20.432 16001 51,217 Gross transfers between fund$ 19941 21,011 120,0001 N•t in¢ominy r¢50ur¢v• 17,382 2.810 20.748 52,396 432 51.217 OthÈr recognl$•d 9alns and loss*s Rev&luatK)n tsf lÈngle fixed assets 171.702 171,702 630.319 630,319 Not movement In furtds 189,084 2,810 192.4 682,715 432 681,536 Fund balances at 1 September 2023 6.912.838 11,038 51,725 6,975,601 6,230.123 10,606 53.336 6,294,065 Fund b418n¢e8 at 31 August 2024 7.101,922 11,594 54.535 7,168,051 6,912,838 17,038 51,72S 6.975.601 The slalement of ffnancial actiti8& includes all gains 8nd10588s recognlsed in the year. All irKthm8 and exPprllUr@ dèrivè$ fn)m Gontinuing actwitsas.
BARNES METHODIST CHURCH BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Notes Flxed assats Tangible assets Investments 14 15 7.049,227 89,216 6.876,425 86,405 7,138,443 6,962,830 Current assets Debtors Cash al bank and in hand 16 29.959 53,340 39.719 56,667 83,299 98,386 Creditors: arnounts falling due within one year 17 (53,690) {83.616) Net current assets 29,609 12.770 Total assets less current liabllltles 7,168,052 6,975,600 Capital funds Endowment funds - eneral Permanent endowment Expendable endowment 39.140 15,395 36.330 15.395 18 54,535 51.725 In¢ome funds Restricted funds Unrestricted ftjnds Designated funds General unrestricled funds Revaluation reserve 19 11,594 11,038 20 1.957 3,206,208 3,893,757 1.957 3,188,826 3,722,055 7,101,922 6.912,838 7,168,051 6,975,601 Isi The accounts were approved by the Trustees on ......................... 1024 Trustee
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies Charity information Barnes Methodist Church is a registered charty with the Charity Commission and its goveming documents are the Deed of Union (1932) and the Methodist Church Act {19761. The registered office is Barnes Methodist Church. Station Road, London, SW13 ONH. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's goveming documents, the Charities Acl 2011 and 'Accounling and Reporting by Charities.. Ststement of Recommended Piactice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102)- {as amended for accounting periods commencing from 1 January 2019}. The charity is a Public Benefit Entity as dèfined by FRS 102. The Gharily has tsken advantage of the provisions in the SORP for charities applying FRS 102 Upd8ts Bullelin 1 not to prepare a Slatemenl 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 Slatemènt 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 lo the nearest £. The financial statements havè been prepared under the historical cosl convenlion, modified to include the r8valualion of fr88hold properties at fair value. Thè principal accounting policies adopted are sel out below. 1.2 Golng concern At Ihe tiTne of approving the financial statements. the trustees have a reasonable expectstion that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees ntinue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charilable objectives. Restricted funds are subject to specific conditions by donors as to how Ihey may be used. The purposes and uses of the restricted funds are set out in the notes lo 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 Pemianent Endowment" a Legacy which was left some years ago by M G Calvert to provide a regular income for musical and Gultural 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 perfonnance conditions have been met, the amounts can be measured reliably, and it is probable Ihat income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charty 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 re¢ognised at the time of the donation.
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) Barnes Methodist Church welcomes all legacies and gifts in memoriam. L8gaci6s are a valuable source of income, and the Church has benefited considerably over the years from th8 generous provision by members and adherents for its continuing work after thelr death. Legacies may be eamarked for specific activities or concerns, for example youth work, malntenance of the organ, or simply to support on-going work. Legacies are recognised on date of receipt. 1.5 Rosources expended Expenditure is recognlsed once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economie 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 actiVFty are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Dlrecl costs attributable to a sirtrgle activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned beleen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spenl, and depreciation charges are allocated on the portion of the asset's use. Resources expended are recognised on an accruals basis and allocated belween costs of generating fund5. charitable activities and governance costs. Governance costs represent all costs incurred in maintsining 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 al cost or valuation, net of depreclation 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, filtings & equipment Computers 100/0 straight-line, per annum 33 /0 Straight-line. per annum The gain or loss arising on the disposal of an asset is determined as th@ difference bemeen the sale proceeds and the carying value of the asset, and is recognised in the statemenl of financial activities. No depreciation is provided in temis of freehold land. After takin9 advice from the Charlty Commission, in Gonjundion with the Methodist Property Office, the Church building and the school property need to be included on the BalanGe Sheet, at their insured value as detemiined by Methodist Insurance plc. An adjustment is made every year (whére material) as an unrealised gain. It has been identified from the SORP {FRS 102} that historic Churches are unlikely to meet the heritage asset definilion, as Ihe preseNation of the buildings they occupy is unlikely to be the primary objective of the Charity. Churches therefore do not qualify as 8 heritage asset and thus cannot be included at nil cost.
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policies (Continued) 1.7 Flxed asset Invèstments Fixed asset investments are initially measured at transaclion price excluding transartion costs, and are subsequenlly measured at fair value at each reporting date. Changes in fair value are recognised in net incomel{expendilurel 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 interesl and where the charity has significant influence. The charity considers that it has slgnifieant influence where it has the power to participate in the financial and operaling decisions of the associale. 1.8 Impairment of fixed assets At each reporting end dale, the charity reviews the carrying amounts of ils tangible assets to determine whether there is any indication Ihal those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (if any}. 1.9 Cash and cash equivalents Cash and cash equlvalents 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 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher 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 amounls and there is an intention lo 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. Baslc flnanclal Ilabilities Basic financial liabililies, including creditors and bank loans are initially recognised al transaction price unless Ihe arrangemenl constilutes a financing transaction. where the debt instrument is measured at Ihe present value of the future payments discounled at a markel rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using Ihe effective interesl rate melhod. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliets. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non4urrent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using Ihe effective interest method. Dgrecognition of financial liabilities Financial liabilitles 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 2024 Accounting policies (Continued) 1.11 Taxatlon As a charity, the Church benefits from Rates Relief and is exempl from direct tax on its charitable income and, because they are specifically exempted or regarded as de minlmus, its fundraising activities. We are therefore able to recover, through Gift Aid, the tax already suffered by donors from their income. In 2024 this amounted to £nil (2023.. £nil}. Crlllcal accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required lo mak8 judgements, estimates and assumptions about th8 carrying amounl of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumptlons are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimat8s. The significant estimations are considered to be depreciation of fixed assets and the valuation of th8 church at the year end. The estimates and undérlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the estimate is revised where the revision affects only thal period, or in the period of the revision and future periods where the revision affects both current and future perfods. Donations and legacies Unrestrlcted Restrlct8d funds funds Total 2024 Total 2023 Donations and gifts Other InMe 14,711 14,711 9,430 42,212 14,711 14.711 51,642 For the year ended 31 August 2023 31,124 20,518 51,642 11
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 Unr•stsieted Rèstslrted Endowmgnl lunds lund$ lund$ général 2024 Totsl Unrnstri¢t•d R•$tri¢t•d EndgwTront fut)ds lunds fvnds g•nèral 2023 Tolal 2024 2024 2024 2023 2023 2023 Rental incorne DivkJEnd5 and interest receNed vn TMCP investments Inleresl reGeivaNe 131.580 131,580 121.944 121.944 1,097 3.745 819 1,665 79 1.119 2.764 445 248 571 366 134,476 571 1,097 136.144 123,688 366 125.173 Ral$Fn¥ fund8 Unro$trl¢tod EndowThont funds rO6 genaral Total Unrè8trlctÈd Endowment fund6 funds general 2023 Total 2024 2024 2024 2023 2023 Invastrn1 mBn em 143 104 247 214 108 322 143 104 247 214 822 12-
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEfvIENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 CharitablE activili95 Grant$ and Ylershlp and A5SOs$mpnt 41onatlon$ Youn9 Pgoplo by Clrcull T•tsi Gran¢$ andworshlp and Assessment 2024 donatlons Ycung by Clrcuil P¢opl* Total 2023 2024 2024 2024 2023 2023 2023 Di1 costs 36.060 37.179 1,256 42,138 43.396 Grtnt furKliNJ of a¢tiwlie$ l$ee note 71 38 Share of ¥upport costs Ise& note 81 Share ofgovemanGe cosl$15ee note 81 1,362 86 2,636 167 85.766 5.437 89,764 5,690 e85 229 1,934 497 48,942 16,549 51,561 17,275 1.486 3.922 127.263 132,671 1,498 3,689 107.629 112.816 Analy$l$ by fund Unrestrf¢ted funds Restricted funds 1,486 3,907 127,263 132,656 15 1,498 3,237 452 107.629 112.364 452 1,486 3,922 127,263 132,671 1,498 3,689 107.629 112,816 13
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Grants payable 2024 2023 Grants to institutions.. Other 38 584 Support costs Support Governance costs costs 2024 2023 Basis of allocation Depreciation Utilities Property costs Administrative costs 1.368 18,187 61,769 8,440 1,368 18,187 61,769 8,440 1,581 Proportion of direct costs 14,581 Proportion of direct costs 26,181 Proportion of direct costs 9,218 Proportion of direct costs Independent Examine¢s fees Legal and professional 5,690 5,690 5,904 Governance 11.371 Governance 89,764 5.690 95,454 68,836 Analysed between Charitable activities 89,764 5,690 95,454 68,836 Govemance costs includes independent examinerfs fees of £5,690 {2023 £5,904). Trustees None of the trustees lor any persons connected with them} received any remuneralion during the year. No payments were made lo Tnjstees during the year for expenses. however this does not include reimbursement for the purchase of items where the trustee was acting on thè Church's behalf. 10 Employees The average monthly number of employees during the yearwas- 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60.000. 14-
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 11 Roof repair axpenditure Total Unrestrlcted funds 2024 2023 Roof repair Costs 10,849 10,849 12 Not galnsl{losses) on invèstmonts Endowmont Endowment funds funds gèneral general 2024 2023 Revaluation of investments 2,811 (1,611) 13 Taxatlon The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s6Ction 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to rts charitable objects. 14 Tangible fixed assets Land and bulldlngs Flxturès, rittings & equlpment Computers Total Cost or valuation Al 1 September 2023 Additions Revaluation 6.870,319 27,217 2,469 3,661 6.901,197 2,469 171,702 171,702 At 31 Augusl 2024 7,042,021 29,686 3,661 7,075,368 Depreclation and impairnient At 1 September 2023 Depreciation charged in Ihe year 21,351 1,167 3,421 202 24,772 1,369 At 31 August 2024 22,518 3,623 26,141 Carrying amount At 31 August 2024 7,042,021 7,168 38 7,049.227 At 31 August 2023 6,870,319 5,866 240 6,876,425 15-
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 14 Tangible fixed assets {Continued) Land and buildings wilh a carying amounl of £7,042,021 were revalued by the Trustees as at 31 st August 2024 based on the insurance value by Methodist Insurance plc. The valuation of the building includes the organ which was purchased in 1925. At 31 August 2024, had the revalued assets been Caled at historic cost less accumulated depreciation and accumulated impaimient losses, their carying amount would have been approximately £nil (2023 - £-). 15 Fixed asset Investments Calvert Legacy Varlous Bequests Total Cost or valuation At 31 August 2023 Valuation changes Income Charg8s and transfers 50,078 36,327 2,811 1,097 11,097) 86,405 2,811 3,745 (3,745) 2,648 12,648) At 31 August 2024 50,078 39,138 89.216 Carrying amount At 31 August 2024 50,078 39.138 89,216 At 31 August 2023 50,078 36.327 86,405 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 disbursernents are made by trustees appoinled by Barnes Methodist Church Council. The nel increase in the year was £2,162 {2023- decrease of£1,4111. The total value of the investments held by the Trust is £31.374 (2023 - £29.212}. 16 Debtors 2024 2023 Amounts falllng due within one year: Other debtors Prepayments and accrued income 13.521 16,438 23,722 15,997 29,959 39,719 16-
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 17 Creditors: amounts falling due within one year 2024 2023 Other creditors Accruals and deferred income 48,000 5,690 77,712 5,904 53,690 83.616 17-
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2024 18 Ethd¢)wmènt funds Endowment lunds r8pr888ntass8ts whlch musi be held permanenllyby charily. Ir¢ome arisiry on lh8 8ndowm8nt funds can b6 us8d In accordance wrfh Ihe objects oflhÈ charity and is included as unreslricted income.Any¢apital gains ortossès ari*ng on thè a$SforM part of fund. Movemeht In funds Tr•nsf•r4 GthB on Fund BalahsE at Ip•••s Thn09erTrt 1 Septbr Movetnent In fund5 Tra1 Giln5 and Inroliilhll r•saurr•s F¢ mènagernent al 31 August 1 SEplprnbpr 2122 P•mian•nt •nd•wm8nts Miss M G Calvert lègacy Exp•ndable endowmBnts Amunb held in Community Account Constant amount from General funds 37.941 1.119 11081 36.330 1,Q96 19951 2.811 11041 39,14e 14.495 14,495 14.495 900 53,336 51.725 1.098 19951 2.811 54,535
èA¢tNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2024 19 R8strftted lund8 ThB income funds of Ihe chBrity include resiricled hJnds comprising the lolh>¥MrKJ unexpended balances ol donation5 and 9ran15 held on Irusl for specific purpos8s'. Movgrnent It) lund¥ InGornlng Out90109 Tran$l4rn In I we601¢e$ (out) I September 202> Movem•nl in funds lts¢omlth OulgolTh Balanr• at 1 S•pt•thr 2022 31 2•24 Property Reserv8 Fun Org8n Fund Roof Fund Thanksglviny granl 309 10.229 68 11 355 578 20.000 320 10.584 134 17 554 337 14521 119 120.0001 10,606 20,884 14521 120.0001 11.038 571 11,594 The Property Reserve Fund IE forlho mainlen8nc8 of th8 Church bulldings. The John Hodgson an¢J Jirn Rentell Funds were cre8lpiJ to provNJe fund5 t¢)ward5 Oryan luniny and newslelter costs. rh858 rw constitLrt8 the Organ Fund. 19-
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 20 Designated funds The income funds of the charity include the following deslgnated funds which have been set aside out o unrestricted funds by the trustees for specific purposes= Movement in funds Incomlng Balan¢¢ at resour¢•s 1 Septembor 2023 Movement in funds Balan¢ at I September 2022 8alaneè at 31 August 2024 r¢sources Ministers Discretionary Fund 1.957 1,957 1,957 1.957 1,957 1,957 -20-
ÈAkNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 21 An•lysls of not a$$ets lund$ UTrr¢strl¢ted R•¥trlcttd Endowmoht Fund* Fund¥ Funds 2024 2024 2024 Total Vnre$tricted Re$tri¢ted Endowmont Funds Funds Fund$ 2023 2023 2023 Totaj 2024 2023 FuThJ balances ai 31 August 2024 are rèpr8S8nt8d by.. Tanglbltr a$Èels Inv•stment8 Current as8etsllllabilitlesl 7,049.227 34,681 18,015 7,049,227 89.216 29,809 ,878,425 54,078 117.6661 6.676.42S 86.40S 12,77 54,535 32.327 19,398 11,594 11.038 7,101.923 11,S94 54,535 7,168.052 6,912,837 11,038 51,725 6,975,60D 21
BARNES METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 22 Related party transactlons There were no disclosable related party transactions during the year (2023 - none). 23 Trustees Rev G Farrar Mr P Blow Mrs V Isaa Mrs D Davies Mr l Haddow Miss V Hearn Mrs B Jones Mr C Moorhouse Mrs F Moorhouse Mrs M Withall Mr M Benneworth Mrs E Cunningham (Resigned 12 May 2024} (Resigned 12 May 2024> -22-