## **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
8**Total 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
17**Total charitable expenditure**
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20**Net income/(expenditure)**
21 Transfers between funds
22 Other gains/(losses)
23**Net 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
8**Total 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
17**Total charitable expenditure**
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20**Net income/(expenditure)**
21 Transfers between funds
22 Other gains/(losses)
23**Net 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| * The "transfers" row is for movements between fixed asset categories. **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*) - (1) which gives me reasonable cause to believe that in any material respect the requirements: - to keep accounting records in accordance with Section 130 of the Charities Act 2011. - to prepare accounts which accord with the accounting records and comply with the accounting 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 - (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. - (3) I ~~have~~ /have not* obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Name of independent Signature of independent Relevant Professional qualification or body Name of firm (where appropriate) Address Date - _Please delete or circle as appropriate_