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2024-08-31-accounts

Church Accruals Accounts 2023-2024

THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2024 Hazel Grove Methodist Church

THE METHODIST CHURCH
REPORT AND ACCOUNTS
(ACCRUALS BASIS)
for the year ended 31 August 2024
Hazel Grove Methodist Church		 THE METHODIST CHURCH
REPORT AND ACCOUNTS
(ACCRUALS BASIS)
for the year ended 31 August 2024
Hazel Grove Methodist Church
Registered Charity - Registration number (if applicable) 1134174
United Stockport Circuit
Circuit No		 190211
Minister
Revd. Ian Coverdale
Church Stewards
Jayne Quinn
Ian Chesters
Brenda Moseley
Janet Street
Church Treasurer
Ian Chesters

Hazel Grove Methodist Church TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2024

Aims and Organisation:

The object of the charity is set out in the Methodist Church Act 1976 (clause 4) i.e. advancement of religion and any charitable purposes of the Methodist Church or church organisation.

Review of the Year:

Regular Church activities: we have regular services on Sunday mornings which are open to all churches in the Circuit. The Young Church meet each week during term time on a Sunday morning. We continue to review our priorities for future years, taking account of national trends regarding staffing and outreach. We continue to allow our property to be used by both church-related and community groups. In addition to fellowship groups, the Church has continued to support a Scout Group and community groups including a model railway club, an orchestra, two choirs, a dancing school and educational classes. There are also a variety of one-off community bookings for events

The Church had a £ 16,132 Income and Expenditure deficit during the year, principally as a result of non-cash items (depreciation). We organise periodic fundraising events. The accounts are presented regularly to the Church Council. We have no funds materially in deficit.

Income Trends

Regular Church income is primarily drawn from the offertory paid by the congregation and community supporters of the Church together with Gift Aid tax credit; also lettings income from external users of the building. In 2023/24 the single largest source of income was the offertory,

Expenditure Trends

The major cost is in relation to the assessment paid to the United Stockport Circuit. This amounts to 35% of our total costs.

A significant amount of this Circuit assessment is used to pay the District assessment, stipends and costs related to Ministers.

Fund Balances

As at 31st August 2024 the net current assets of the Church relating to the General Fund were £ 137k, giving approximately 16 months' cover for expenditure.

Plans for 2024-25

Church financial plans for the coming year will be determined in the light of the needs of the Church and Circuit although promoting closer links with our local United Reform Church is one identified

Church No 190211

Name of Church

Hazel Grove Methodist

Statement of Financial Activities (SOFA) for the year ended 31 August 2024

Notes to
the
accounts
Income
1 Offerings
4
2 Donations
3 Gift aid
4 Interest and investment income
7
5 Income from investment properties
6 Internal organisations
7 Other charitable income
6
8Total income
Expenditure
9 Circuit assessment or share
10 Grants and donations
11 Property maintenance
12 Insurance,utilities etc
13 Depreciation
14 Office expenses
15 Other expenditure
16 Internal organisations
17Total charitable expenditure
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20Net income/(expenditure)
21 Transfers between funds
22 Other gains/(losses)
23Net movement in funds
24 Total funds brought forward
25 Total funds carried forward

General Fund
(Unrestricted)
Designated
Funds
(unrestricted)
Restricted
Funds
Endowment
Funds
Total
2023-24
£
£
£
£
£
39,567
39,567
1,199
247
941
2,387
10,233
10,233
5,480
5,480
0
0
41,391
6,296
47,687
97,869
247
7,237
0
105,353
(42,559)
(42,559)
(430)
(400)
(1,490)
(2,320)
(25,826)
(697)
(26,523)
(21,514)
(21,514)
(16,600)
(16,600)
(1,275)
(1,275)
(8,003)
(2,834)
(10,837)
0
(116,207)
(400)
(5,021)
0
(121,628)
0
0
(18,338)
(153)
2,216
0
(16,275)
450
(450)
0
0
(17,888)
(153)
1,766
0
(16,275)
1,935,207
1,096
16,809
1,953,111
1,917,319
943
18,575
0
1,936,837

Church No 190211

Name of Church

Hazel Grove Methodist

Statement of Financial Activities (SOFA) for the year ended 31 August 2023

Notes to
the
accounts
Income
1 Offerings
4
2 Donations
3 Gift aid
4 Interest and investment income
7
5 Income from investment properties
6 Internal organisations
7 Other charitable income
6
8Total income
Expenditure
9 Circuit assessment or share
10 Grants and donations
11 Property maintenance
12 Insurance,utilities etc
13 Depreciation
14 Office expenses
15 Other expenditure
16 Internal organisations
17Total charitable expenditure
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20Net income/(expenditure)
21 Transfers between funds
22 Other gains/(losses)
23Net movement in funds
24 Total funds brought forward
25 Total funds carried forward

General Fund
(Unrestricted)
Designated
Funds
(unrestricted)
Restricted
Funds
Endowment
Funds
Total
2022-23
£
£
£
£
£
39,307
39,307
980
877
50
1,907
7,871
7,871
3,464
3,464
0
0
41,214
6,279
47,494
92,837
877
6,329
0
100,044
46,200
46,200
920
1,000
400
2,320
23,926
963
24,889
14,933
14,933
17,122
17,122
581
581
3,597
4,010
7,606
0
107,278
1,000
5,372
0
113,651
0
0
(14,441)
(123)
957
0
(13,607)
400
(400)
0
0
(14,041)
(123)
557
0
(13,607)
1,949,249
1,218
16,252
1,966,718
1,935,207
1,096
16,809
0
1,953,111

Name of Church Hazel Grove Methodist Church No 190211 Balance Sheet as at 31 August 2024 General Fund (Unrestricted) Designated Funds (Unrestricted) Restricted Funds Endowment Funds Totals 2024 Totals 2023 Notes to the Accounts Fixed Assets Church building and other property Investment properties Investments 12 1,781,396 1,781,396 1.797.995 Total fixed assets 1.781.396 1,781.396 1.797,995 Current Assets Debtors and prepayments Loans by the Churches Investments with TMCP Central Finance Board Deposits Cash at Bank and in hand 5,312 5,312 20,579 41,265 65,538 23,808 135,923 9,714 50.979 65.538 33.612 155,441 48,497 37,179 51,424 157,679 943 8,862 18.575 Total current assets 943 Current liabilities Creditors (due in under 1 year) Grants payable within 2022-23 Total current Ilabilities 2,560 2.560 155.119 Net current assets/liabilities 135,923 943 18.575 155.441 Total assets less current liabilities 1,917,319 943 18.575 1,936,837 1.953.115 Long term liabllitles (due after more than one year) Grants payable after 2022-23 Loans to the Church Net assets 1.917,319 943 18,575 1.936,837 1,953,115 Funds of the Church General Fund (Unrestricted) Designated Funds (Unrestricted) Total Unrestricted Funds 1.917.319 1,917.319 943 1,935.210 1.095 1,936,306 16,809 943 1,918,262 18,575 Restricted Funds Endowment Funds 18.575 Total Funds 1.917.319 943 18,575 1,936,837 1,953.115 Signed Church Treasurer

Notes to the Accounts

1. Basis of accounting

The financial statements have been prepared in accordance with SORP(FRS102) as updated, being the current version of Accounting and Reporting by Charities: Statement of Recommended Practice.

2. Funds

The funds held constitute: General Funds held for any purpose of the Church which are Unrestricted; Restricted funds which are held for a narrower purpose including those for internal organisations. There are no Endowment funds. Details of each material fund are disclosed in note 18. Any funds may be represented by more than just cash.

3. Accounting policies

Basis

These accounts have been prepared on the basis of historical cost, except that the Church premises are shown at their estmated market value at the end of the year, on the accruals basis to show a true and fair view of the Church's financial position and activities.

Income

Income is included in the Statement of Financial Activities (SOFA) when the Church becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.

Expenditure

This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Church to pay out resources.

Grants

Grants made by the Church from its own funds are recognised in full at the time of agreement or when the Church accepts that there is a legal or operational obligation to make the payment. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.

VAT

Since the Church is not VAT registered, all input VAT is charged with the expenses to which it refers.

Tangible fixed assets for use by the Church

These are capitalised if they can be used for more than one year, and individually cost at least £1,000. The freehold property is shown at estimated market value.

Investment Properties

Investment properties - no property is currently deemed to be held for the long term purposes of the charity.

Investments

Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when received and any gains or losses on revaluation at the year end are shown in the SOFA.

Debtors and Prepayments

Debtors include all known outstanding items at the end of August.

Creditors

Creditors include all known outstanding items at the end of August.

The Methodist Church - Hazel Grove

4. Donations and legacies
Collections
Gift Aid
Donations
Legacies
Total
5. Charitable activities
Fund raising
Other
Total
6. Other trading activities
Lettings
Miscellaneous
Total
7. Investment income
Central Finance Board
Other
Total
8. Other
Miscellaneous
Total		 Unrestricted Restricted 2024 Total 2023 Total
£
£
39,567
0
39,567
39,307
10,233
0
10,233
7,871
49,799
0
49,799
47,179
1,446
941
2,387
1,907
0
0
0
0
51,245
941
52,186
49,086
Unrestricted Restricted
2024
2023
£
£
0
0
0
0
0
0
0
0
0
0
0
0
Unrestricted Restricted
2024
2023
£
£
£
£
39,726
0
39,726
38,876
1,664
6,296
7,961
8,617
0
0
0
0
41,391
6,296
47,687
47,494
Unrestricted Restricted
2024
2023
£
£
£
£
2,859
2,859
1,652
2,620
2,620
1,812
5,480
0
5,480
3,464
Unrestricted Restricted
2024
2023
£
£
£
£
0
0
0
0
0
0
0
0
9. Payment to Trustees
Payments made to trustees for additional services provided to the Church by agreement with the Church Council Meeting
£
Number of trustees who were paid expenses
Nature of the expenses
No expenses were paid to Trustees.
Total amount paid
£
10. Fees for examination or audit of the accounts
Independent examiner’s or auditors' fees for reporting on the accounts
£
Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor
£
11. Paid employees
Staff Costs paid during the year were:
Gross wages, salaries and benefits in kind
£
Employer’s National Insurance costs
£
Pension costs
£
Total staff costs
£
Average number of staff employed during the year were:		 Thisyear Lastyear Thisyear Lastyear
Nil Nil
Nil Nil
Nil Nil
Nil Nil
Nil Nil
14,214 12,911
Nil Nil
Nil Nil
14,214 12,911
0.69 0.69

12. Tangible Fixed Assets

Cost or valuation

12. Tangible Fixed Assets
Cost or valuation
Other non investment
land and buildings
£		 Fixtures, fittings
and equipment
£		 Total
£
Balance brought forward 01/09/2023 1,890,000 123,520 2,013,520
Additions
Revaluations(+/-)
Disposals(-)
Transfers *(+/-)
Balance carried forward 1,890,000 123,520 2,013,520
Accumulated depreciation
Balance brought forward 01/09/2023 178,772 36,753 215,525
Depreciation charge foryear(-) 10,812 5,787 16,600
Revaluations(+/-)
Disposals(-)
Transfers*(+/-)
Balance carried forward 189,584 42,540 232,124
Net book amount
Brought forward 1,711,228 86,767 1,797,995
Carried forward 1,700,416 80,980 1,781,396

Note : the method of depreciation is on a reducing balance basis 1% for church buildings and 6.67% for fixtures, fittings and equipment.

Buildings at (deemed) cost 1,260,000
Depreciation b/f 178,772
NBV b/f 1,081,228
Depreciation foryear 10,812

14. Analysis of current assets

Debtors and prepayments
Pre paid assessments
Accrued income (HMRC Gift Aid accrued)
Other debtors
Total debtors and prepayments
Analysis of cash at bank
Balances held at Bank
Bank balance held by Trustees for Methodist Church Purposes
Cash held by Central Finance Board of The Methodist Church
Total Cash and Bank
15. Analysis of current liabilities and long term creditors
Trade Creditors
Other Creditors (inc. Utilities, property repairs and funds due to third parties
Total Current Liabilities
16. Capital commitments and contingent liabilities
At the 31 st August 2024 the Church had no capital commitments.
No Contingent liabilities were identified at 31st August 2024.		 This year
Last year
£
£
0
0
5,312
20,579
0
0
5,312
20,579
33,612
51,424
50,979
48,497
65,538
37,179
150,129
137,100
0
(2,560)
0
(2,560)
The Methodist Church - Hazel Grove

17. Loans and creditors due after one year Loans

The Methodist Church - Hazel Grove
17. Loans and creditors due after one year
Loans
Source **New borrowings £ ** Loan interest £ Repayable in theyear £ Balance atyear end £
Nil
Nil
Repayment due
Due within 12 months
Due after more than 12 months
Total Nil
Purpose of loans
None
Creditors due after oneyear
Name of creditor Amount on 31-Aug-2023 Amount on 31-Aug-2024
Nil
Total Nil Nil

The Methodist Church - Haiel Grove 18. Detailed analysis of indtvidual fund movements Unrestricted Funds Fund Name General Fund Totals Opening Balance 1,935,217 1.935.217 Income 97,869 97,869 Expenditure 1116,2171 (116.217) Transfers 450 450 Closing Balance 1,917,319 1,917,319 {Donation from Ladies, Fellowship) Designated Funds (Unrestricted) Fund Name Benevolence Fund Totals Opening Balance 1.096 1.096 Income 247 247 Expenditure 14001 (400) Transfers Closing Balance 943 943 Restricted Funds Restricted Fund Name Various Bequests Project / Events Fund Ladies, Fellowshi p Coffee Lounge / Early Birds Totals OpeningBalance 9,714 4,988 2,830 1,551 4,020 557 388 16,809 7,237 The Methodist Church - Hazel Grove Income Expenditure Transfers Closing Balance 9,714 6,712 1,530 619 18.575 (1.105) 13,590) (326) (5,021) (4501 (Donation to General Fund) (450) DECLARATIONS Treasurer I confirm that I have prepared the accounts from the records of the Church and that they include all funds under the control of the Church Council. Signature of Treasurer Name Address Presentation to the Church Council Meeting for approval. I confirm that the Accounts were, or will be, presented to the Church Council Meeting on and were approved. Signature of the Chair of the meeting Hazel Grove Name of the Chair of the meeting Date.. Independent Examiner's Report Report to the Trustees of The Methodist Church - Hazel Grove On accounts for the year ended 31Au ust 2024 Charit No. 1134174 Set out on pages 10 20 inclusive I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 31st August 2024 Responslbllities and basis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act ) I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Independent Examinerfs Statement l am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in. any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act; or the accounts did not accord with the accounting records., or the accounts did 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 whi 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 accounts to be reached. Signed: Date: Name: Relevent professlonal qualification(s) or body

Hazel Grove Methodist Church

Appendix A CHURCH COUNCIL MEMBERSHIP

MINISTER(S)

REV. IAN COVERDALE

STEWARDS

MRS. JAYNE QUINN MR. IAN CHESTERS MRS. BRENDA MOSELEY MRS. JANET STREET

CHURCH SAFEGUARDING CO-ORDINATOR

MRS. ELIZABETH A. LAW

CHURCH REPRESENTATIVES (OTHER MEMBERS OF THE CHURCH COUNCIL)

1 MR. KEITH TONGE

2 MRS. SHIRLEY STURMY 3 MR. ERIC COATES 4 MRS. LIZ YOUNG 5 MR. ALAN BRIGGS 6 MR. ADRIAN LAW 7 MRS. LINDSAY TWOMLOW

8 MRS. DOREEN SYKES 9 MR. MARTYN BENNETT 10 MRS. PAT HUNT 11 MR. RICHARD LEWIS 12 MR. DAVID EDMONSON

13 MRS. LIZ TURNER

14 MRS. BERYL KEELEY

15 MRS. DENISE JACKSON

16 MRS. HELEN BAILEY

Hazel Grove Methodist Church DECLARATIONS Treasurer I confirm that these accrual based accounts for the year ended 31 August 2024 have been prepared from the records of the Church and that they include all funds under the control of the Church Council / Members, Meeting l Leadership Signature of Treasurer Date Name of Treasurer Iian Chesters Address 19, Seaton Close, Hazel Grove, Stockport. Cheshire SK7 SLU Presentation to the Church Council l Members. Meeting l Leadership Group" for approval. I confirm that the annual report and accounts for the year ended 31 Aug 2024a¥w will be" AAd4wpproved. Signature of the Chair of the meeting Name of the Chair of the meeting Date Independent Examiner's Report to the Trustees of the Hazel Grove Methodist Church 2024 This Report is on the Church Accounts for the year ended 31st August 2024 Respective responsibilities of Trustees and Examiner The Church's trustees are responsible for ensuring that the annual report and accounts for the year to 31 August 2024 present a true and fair view of the Church's income and expenditure for the year and of its assets and liabilities at the balance sheet date. The Irustees consider that an audit is not necessary for this year under Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act., to follow the procedures laid down in the general Directions given by the Charity Commission under Section 145(5)(b) of the Charities act., and to state whether particular matters have come to my attention. ' Please delete or circle as appropriate

Hazel Grove Methodist Church

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination

Independent Examiner’s Statement

REPORT AND ACCOUNTS

In connection with my examination, no matter has come to my attention (other than as disclosed below*)

I confirm that the annual report and accounts for the year ended 31 Aug 2024 were, or will be presented to the Church Council / Members' Meeting / Leadership Group at its meeting on

Name of independent

Signature of independent Relevant Professional qualification or body

Name of firm (where appropriate)

Address

Date