2022 The Methodist Church Newington Circuit (London District- Circuit No 35/10) Charity Registration Number 1134389 Accounts for the year ended 31 August 2022 Hackney and Stoke THE m￿HoD1￿ CHURCH IN +IACKNEY AND STOKE NEWINGfoN TABLE Pale REFERENCE AND ADMINlSfRATIVE DETAILS TRUSTEES. REPORT STATEMENT OF TRLISTEEY RESPONSI8ILmES INDEPENOENT AUDrroRS' REPORT 1fy12 STATEMENT OF FINANaALACTivmES 1>14 BALANCE SHEET 15 NOTES TOTHE ACCOUNTS 1&24 Page 2 THE METHODIST CHURCH IN HACKNEY AND STOKE NEWINGTON Reference and Administrati¥e DetaTrs ame$ and addresses The address of the registered Offi￿ for the Hacknèy and Stoke Ne￿ngton Qr¢ufi¢ for the purposes of the Methodlst Church Act 1976 and any other legislats.on Is.. The Methodist Church In Hackney and Stoke Newn8ton Dalston Methodlst Churth 11-13 Rlchmond Road london E8 3HY Tel.. 07736 972202 Web.. www.hackneymethodlst.org.uk Custodlan Trustees: Trustees for Methodlst Church Purposes Central Bulldings Oldham Street Manchester Ml IJQ Manapment Tearn: RevAndrew letby Rev Paulo 8essa Da SSP Inv•stm•nt Manayr5: Central Finance Board of the Methodlst Churth 9 Bonhill Street London EC2A 4PE Trustees for the Methodlst Connexlonal Funds Iregi5teredl 9 Bofthlll Street London EC2A 4PE 8•nk•rs: CAF 8ank 25 KSn8s Hlll Avenue ME19 4JQ HSÈC PLC (for Lunch Clubl 283 Mare Street Hacknty London E8 IPT Independent Authtor: Citroen Wells Chartered Accountanis & Statutory Auditors Devonshire House l Oevon5hire Street London WIW 5DR Lovell Son and Pitfield 9 Gr3y s Inn Square Gray s Inn London WCIR SJT Page 3 THE METrIODIST CHURCH IN HACKNEY AND STOKE IIEWINGTON Trustee￿ Report forthe spar ended 31Awt21)22 The Trustees piesent their report and the examined accounts of the Cfjrtuit for the year ended 31 August 2022. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI"AccountinE and Reporting by Charities- IFRS 1021 in preparing the annual report and accounts of the fjrcutL The accounts have been prepared In accordancewtth the atcounting poli(ies set out In note I to the xcounts and comply wlth the Circuit's govefnin8 document, the Charlt6es Atl 2011 and -Accountin8 and Reporting by Charities.. Ststernent of Recommended Practice applicable to charlties preparing thelr accounts in accordance with the Financial Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 1021~ leffective from l January 20191. Governan The governlng body of the Methodist thurch is the Conference. whith meets annually. The authority under whlch the Conference acts Is glven by the Methodbst Church kt 1976. We are governed by the Methodlst Churches Constituilonal PrKtice and Olsclpllne and all Charlty Law of the UnSted Klngdom. The Churth w toverned by the Methodlst Church Act 1976. thé deed of Union and the Modtl Trusts of the Methodlst Chuich. The purpose5 of the Methodlst Churth are and shall be deerned to have been sinte the date of union the advancement of.. lal the Christian falth in aC￿rdanCe with the dC￿lIn?1 standards and thÈ discipline ol the Methodlst Church Ibl any charltable purpose lor the time belng ol any Conne¥ional, Distrirt. C6rcuit. local of other organisation of the Methodlst Church Icl anv charltable purpose for th• time bein8 of any sotiety or instltutlon or subsldlary Or ancillary to the Methodlst Chur¢h.. Idl anv purpose for the time bein8 of any chzrity bein8 a charlty subsidlary Of andllary to the Methodist Church. In settln8 our oblettlve5 and plannln8our aCtIv￿les, the Clrcult has 8l¥*n careful consldefatlon to the ChartyCommlsslon'$ 8eneral 8uldante on publlc benellt and In partkular to Its supplementary publlc benefft 8uldan¢e on advanclng our oblettfve$ 3$ set out above. Tht Methodlst Church In Hackney and Stoke Newlngton Is part of the ll￿dOn Dlstrftt of the Methodlst Churth, and Is re8lstered charlty, number 1134389. Full Name ofcharlty.. Hatkney Methodlst Clrcuft RegI￿ratIon Charty Number- 1134389 Date of Reglstratltsn.. 18 February 2010 Maln Communlcation Address.. The Methodist Church in Ha(*nty and Stokè NèwirTr8ton Dalston Methodist Church 11-13 Richmond Road London E8 3HY Page 4 THE MEtHODISTCHURCH IN HACKNEY AND ￿0KE NEWINGfoN Trust•es' Rep￿ fortr* par ended 31PAywt2l)22{t￿Iwdj Trustees The full list of Trustees who served during the year and vp to date of si8nature of the accounts were as follows.. Trustees who joined during 21122 are shown with an asterix I'l and those who left durlng the year with I"). Trustees wh¢* have lolned during 202V23 are derboted wth three aslerisks I *** Rev Andrew Letby Rev Paulo 8essa Da Sifva Rev John Richey Rev John Pamhare Sakutombo Rev Jongikaya Zihle. Esther Adekunle Afua Adolo Alexander Amartelfio Glorla Amartelflo Amanda Ansah••• Lutlnda An5ah Kwaku Anyemedu Erlc Ayoola Mandy Baafl Janette Baxtèr Valentine Baxter Vanessa Baxter" Joyce Borfty Mary Campbell Thomas Dalty Rita Dapaah•*• Kgbby Darko Rita Donylna-Ameyaw Clord Dyer Laura Dyer Erlc Frempon8" Aminata Gborfe Tamba Gborie Mackenzie Greèr Rolan Hagan Catherine Ho8an Rudolph Homer Allins Horne" Anthony Jumpah•* ida Koranteng Rachael Icilda Lynch Vefa Mawu" Faginette Beatrice Mclean. Susan Mlllman Chadotte Morgan Tettey Kolo Nartey. jacob Ogunleye" Vicky Ryan" Mathllda Small-Byam Ernell Watson Alexandra Weeke5.Awev Euni￿ Whyte Merlln Wllllams" Cora Wtstslr Method to r•crult n•w Trugt••s The member5 olthe Clrcuit Meeting are the trustees of Hackry and Stoke Newington Methodist Clrcult. The constitution for the Clrcult Meetlng was agreed at the Circult Meetln8 on Isth Marth 2022. Most of the members tsf Circuit Meetin8 are trustees dueto the role theyplaywlthin the church ortircuit Iforwhich they a￿ nominated orvolunteerl. Further, each Church Coundl nornlnates church representat￿e$ to the arcurt Meetin8 at thelrAnnual Church Meetin8. Oblectl¥t and purpose The calllng ol the Hackney and Stoke Newin8ton Methodist Orcuit Is to respond to thegospel of God's love In Christ and to Ilve out its disclpleship in worship and mission. This Is expressed through Worship, Leamln8 and Carlng. Evangelism, and Servlce. The Clrcuit is committed to use its resources In a clearty focus5ed and Sntentfjonal way to ensure an effectlve responst to the need5 ofour congregations and the wlder community- A¢tl¥rt1•5 Chrlstian falth-based activities in accordance wth the Methodist doctrine. Regular worship takes place In 6 thurch bulldinBs, as well as on Zoom. The Listening Place offers a safe. warm space at Stoke Newin8ton Churches. A Lunch Club operates from Clapton Park primarily for elderfy people from the Caribbean. The charity supports a Youth Club and Food bank at Clapton Park. Page 5 THE MEfHODISTCHURCH IN HACKNEY AND ￿0KE NEWINGTON Trustee￿ Report for the aiAwt20221￿thmdj Organlsatlonal Struc￿re The Cireult includes responsibilty for the Methodist Churthes at Dalston, Clapton iaapton Methodlst Churth operates from 2 sites on Oowns Road and Chatsworth Road. Clapton Parkl, Mare Street and Stoke Newingtoft (Stoke Newington Methodlst Church operates from 2 sites on Green lanes and Stoke Newington High Street). In September 2021, the members of Clapton Park Methodist Church became a class of aapthn Methodist Church. The Circuit has responsibility forthe finance and propertv of Clapton Park Methodist Church. Internal Or aTrtsat- The Circuit Includes two internal or8ani5ations- the Chatsworth Road Lunch aub Pfolect and a Methodist Women in BrStain 8roup. Thè Chatsworth Road Lunch Club prolect has its own mana8ement committee, chaired by Rev John Richey? under the umbrella of the Clrcult MeetlnÉ. The Chatsworth Road Lunch a¢Jb has its own HSBC account. Methoaist Women in 8ritain have no separate baThk nor cash accounts. All income raised and spent In connectK>n vthih this group is recorded by the Clrtult and transacted through the Clrtult bank account. In addltlon, the property and flnance of Clapton Pafk Methodlst Chyrth has become the re5pon51blllty of the Clrcult slnce 1° September 2021. stsff The Superlntendent Mlnlsterand Chairof the Managin8TTUStees is Re¥Andiew Letby. Ilev Paulo Bessa da Sllva Is also statloned to the Circurt. In addltSon, the Circuit employs a supernumerary ministèr. Rev John Rlchey, for 2 days per week to assist with pastoral and preachin8 dutles. He finished worklng In thè tircult in A￿8￿t 2022. Together they have pastoral eharge of the 4 Churches in the Cirtult. Helen Cornltk is employed as a part-t5me130 hours per weèkl Circylt Admlnlstrator and PA tothe Superintendent. The Clr¢ult 'buys in, payroll and firtance support from ihe Methodist Church In TowÈr Harnlets. A¢hl•¥•m*nts ond perfomianc• There are 6 actlve and 2 inartlve Local Preathers In the Clrcult. Clrcult Stewards were Valentlne Baxter. Sue Millman Kwaku Anyemedu and Qtherlne Hogan. A full pro8ramme of Chrlsyan educatk>n. soclal ¥tMty and MISSk￿ 0￿reath work contlnued throughout the year wSth some actlvltles contlnulng onllne. Property Dalston Church and Chatsworth f¢oad. Clapton Park rent out many rooms usin8 the standard Methodist License. The Rlchmond Road Manse Is let out on a manaeed tenancy throL4h Courtnews Estate N4ents unts'l e Decembef 2022. Chatsworth Road. Clapton Park also have tenants In a flat At Sloke Newlngton High Street and Green Lanes Churthes a lull time premises rnana8er has overslght of both slte5, and the Llstening Placè Project offers drop-in and 518npostlng for 74ulnerable people. Invegtm•nts The Investment of surplus funds is operated vla the Central Finance Board ICFBI of the Methodist Church. CFB alms to provide high quality investment service seekln8 above average returns for h)ng tem inve5tor5. whilst ensuring thèt the securrtie5 held by all its fvnds are in line wtth the ethical poliry of the Methodist Church. The Clrcuit has its fund5 in a deposit account with CF8.The Restricted Fund whSch is malntyfund5 from salesof propErtbes 15 managed byTrn5teesfor Methodist Purposes (TMCPI. These funds are also Invested with CFB. Page 6 THE METHODIST CHURCH IN HACKNEY AND sfoKE NEWINGTON Trwtee< Rtport lortheyewended 31W2l)22l￿n1￿X*d) Public Benefit Requlremtnt The Trustees have had due regard to the guidance publishe(I by the Chartties Comfflission in wmpliance its dutSes under section 4 of the Charities Act 2011. This guidance sets out two key principle5'. l. The organisation must have an identifiable benefit. 2. The benefrt must be to the publk or a sedion ofthe publlc. The Church exlsts to: Increase awareness of God's presente and to celebrate God's love.. help people to learn and 8row as Christians. through mutual support and Care.. and be a good nelghbour to people In need and challenge injustice. The Trustees cOn￿der that forthese reasons the tha￿ty meets these public benefft requirements. Flnanclal Revlew Clrcuit ministry is funded thrtyJgh the assessment contributlons from thurche5. Thi5 was Supplemented by rent received from the Circult property In Rlchmond Rgad la mansel, and rental money from Chatsworth Roatl. Clapthn Park. and a grant of £12,(J)O towards the cost of the Clrcult Administrator received in July 2021. The various propertSes art funded from thelr Income on a day-to4ay b*. The value ol the Circult fund5 Ilndudin8 land and bulldlngsl as at 31 August 2022 was £4,869,309 whlch Is an Increase of £3,743,488 from previous year. Thls Increase Includes the value of the aapton Park Methodlst a)ur¢h of £3,692,898 that was tfansfèrred to the Clrcult In the year. A mlnlster statloned In anolhei Clrcult resldes In Hackney ond Stoke NevAn8toTh Manse. Dèaton Bèllnda Letby Is a mlnlster In the West London Mlsslon Clrcult. ThÈ West London Mlsslon Clrcult make payments to the Clrcuit fof rent and In respect of Councll Tax, telephone and broadband. The amount recelved In the year was E24.533. Try$t4e< Interests The Mlnlsteis who are Trustees of the Circuit are pald a stiptnd and are given a manse for the Ministers and their family to Ilve. The Council Tax ts paid for by the Cirtuit and a150 an official telephone line with broadband facilitie5 to enable them lo ¢arry out thelr serylce as Mlnister5. These arran8ements are prartited throughout the knnexion. Two payTnents were made to Mrs Eurticè Wh￿e Itotal £401 In respect of stewarding duties, and Rev John Rithey recelved a salary based on the Methodist ministerfs stipend of £8.6CQ. Rlsk M¥na8emerrt The Circuit has reviewed its risk policies and is preparing a Risk Register highlightin8 the varlous dsks faclng the CirculL the Impact and the likelihood ofthem happening. The main headin8s under whkh these risks have beèn tategorised are.. Trusteès, Respon51bllltles Membership and Mission Resources, People and Property Financial Legal Thèse ri5k% are reviewed re8vlarlyto ensurÈ efted￿￿r*Ss. Page 7 THE METHOD1￿ CHURCH IN HACKNEY AND STOKE NEWINGTON TNstr& ReportfOrtheyW￿ 31 W 2022 Reserves Polky The prTrmary purposes of the fjrcuit are: to support the presbyteral ministers in their responsibilitse5 to preach, offer a sacramental ministry and provide pastoral care to the congre8ations of the six Methodist Churches and to the widèrttsmmunity within the borough of Hackney and Stoke New0n￿On. to support the work olthe lay employees. ar¢uit officers and Church mèmber5 In their various responslbllltles In relatlon to the Qrculvs overnll M￿$1￿. The reserves pollty In connertlon wlth thls purpose 55 to malntsin sufficlent fvnds to ensure the payment of stlpends, other allowancès, manse costs and contrfbutlon5 tothe District •ssessmefit fortwo ministers for slx months. The unrestrlcted funds. excludlng Manses. of E207A88 are held for the purpoge of the Circult. Plon$ for the fvtsJr• A regular pattérn of in-person worshlp has now been re*stablished. though a weekly ser¥lce Is also broadcast via Zoom. Congfegalions are smaller than befgre the pandemlc, rtfiècting the experience of many thurehts acr0$5 the country. The Circuit Ilnk wlth H•ckney Citizens continues io develop. the work of the knstenin8 pla￿ tn Stoke Newington Is flou￿$hIng and ecumenlcal links are beln8 reklndled. As we look ahead. changes in staffing both lay and ordabned are envisaged. Notsbly the superlntendent minlster wlll leave the Clrcuh In the summer of 2023. A dirtct replacement is unlTrkely. so plannin8 has beeun In order to ensvre that the Circuit ¢ontlnue5 to function wèll. DIK105ur¢ of tnformatlon to *udltors In so faras theTrustees are aware.. . there Is no relevant audtt Infom)akn ofvthkhthe tharwswdltornare ￿&¥are;aTr . the Trustees have taken all the step5thattW oughtto havetsken to makethemtha%Ydrtofanyreknntaudr( infGYmatbn and toe5tsbllsh thatthe audltotsareJware ofthat Inftymth. Audltor5 The audltors.Otr¢en Wells, a￿1*011￿n$t0 continue in ¢)lkn. a￿1 *il be Trapwnted at theTrustee< MeetJn8. 2716/2023 Approved by the Tiustees on......-..--.....-.._.......-.-... and $58ned on thelr behalf bv: Rev Andrew Lètby Superlntendent Mlnlster Page 8 THE M￿￿O01sT CHURCH IN HACKNEY AND sfoKE NEWINGTON Statement olTrustees' responsib15tle$ forth• ytar ended 31 2022 The Trustees are Tesponsible for preparin8 the Trustees, Report and theaccounts in accordance with applicable lawand Unlted Kingdom Accounting Standards (United Kingdom Generally Accepted Actountin8 PrartKel. Law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year, which grve true and fair view of the state of affalrs of the Circuivs financlal actfvttiÈs during the year and of r(s financial p051tion at the end of the year. In preparlng these accounts, theTrusteÈs are required to: sèlert sultable actountjng w)Ikies and then apply them consistently,. observe the methods and printlples in the Charkles SORP; makejudgements and estlmates that arè reasonable and prudent: statè whether appllcable ac¢tsuntin8 Standards have been lollowed. subject to any material departures dlsclosed and explalned In the accounts, and prepare the actounts on the 8oin8 concern basis unless St Is Inapproprfiat* to pre5urne that the Charlty wlll tontlnue In operation. The Trustees are responsible for keeplne proper atcwntln8 records that dlsdose wlth reasonable accuracy at any tlme the rinanclal position of the CSrcult and ènable them to ensure ihat the a¢counts complywlth the Standing Order5 of the Methodlst Church. the Charities Act 2011. the Charlty (Accounts and Rtportsl Regulatlons 2¢J)8 and other relevant re8ulatlons. They are 3150 responslble for safe8uardin8 the assets of the thartty and hence for taklng reasonable steps for the prevention and detectlon of fraud5 and other Irregularliles. Page 9 THE METhODIST CHURCH IN ￿tAcKNEy AND sfoKE NEWINGTON Independent Auditorfs Report toihe Ttustees of The Mèthodist CIM•rth Hxkneyand Stokè NewlnBton Opinion We have audfted the Kcounts of The Methodist ChU￿h in Hackney and Stoke Newln8ton Ithè'CirculVI for the year ended 31 August 2022, which comprise the Statement ol Financial Artivlties, the Balance Sheet and the notes to the attounts, including a summary of significant accountin8 polioes. The financial ￿pOrting framework that has been applied in their preparation Is applicable law and United Kingdom Accountin8 Standards. including FiTranclal Reportlng Standard 102 Yhe Financial Reportifig Standard applicable in the UK and Republlc of Irdand, Iunlted Kln8th)m Gènèralty Accepted AccountSng Pratticel. In our opinion, the accounts- Ive a true and falr vlew of the state of the arcuTVs affalrs as at 31 August 2022 and of its Incoming resources and applicatlon of resources for the year then ended- have been proper￿ prepared In accordance wlth United ￿ngdOM Generalty Accepted Accoun￿n$ Practice. and have been prepared In aetordance with the requirtments of the CharltlesArt 2011. Basls for oplnlon We condycted our audSt in accordance w￿h Intèmatlonal Stsndards on Audlt5ng IUKI IISAS IUKII and applScable law. Our responslbillties under those standards are further descflbed In the Audltofs responsibllltles for thè audit of the accounts seetion of our report. We are Independent of the Clrcurt in accordan￿ wrth thè ethical requirements that are relevant to our audit of the accounts in the UK, indudln8 the FRCS EthScal Standard, and we have fulfilled our other ethkal responsibilities In accordance wlth these requlrements. We belleve that the audlt evldence we have obtalned 15 5ufficlent and approprlate to provlde a basLs for our opSnlon. Concluslons relatlni to ¢oln¢ conc•m In auditing the accounts, we have coKluded that the T￿￿tees, use ofthe goirs concem basis of ?￿UntIng in preparJ¢ign ot the accounts is apprgpriote. Based on the work we have perfom)ed, we have not identTfied arfy mJtswial urKertainties rel&ting to events or condltions tha( Individually or colleetwely, may cast sigrificant dovbt on the Circuit's ability to contsnue as a going concem lor a peiiod of at least elve morfhs from when the financial statèments are authori￿ lor issue. Our resporb51bllfrtles andthe responslbilltle5 oltheTrustees with rewerttO8oln8 concern and dèscrlbed In the relevant sectlons of thls report. Other Inlormatlon The7rusteesare resptsnssblefortheother Information.The othef Information ctsmprisesthe Informatlon Included in the annual report. other than the accounts and our auditorfs report thereon. Our opinion on the attounts does not Cover the other Informatlon and we do not express anyfom of assurance conclu51on thereon. Our resptsnsibll￿ is to read the other infom)atlon and. in doing 50, consider whether the othèr inforrnation Is materlally Inconsistent with tht accgunts or our knowledge obtained in the asjdtt, or otherwise appears lo be materially mlsstated. If we Identlfy such material inconsistencies or apparent material misstaternents, we are required io determine whether this glve rlse to a material misstatement in the accounts themselves. If. based on Ihe work we have perfomed. we conclude that there Is a material misstatemtnt of this other Infomution. we are requlred to reP￿t that facL We have nothin8 to repcrt in this regard. Page 10 THE MEfHODISTCHURCH IN HACKNEY AND STOKE NEWINGfoN Independent Audltor's Rep(*tto the Tntstees olThe Methodlst Churth In HaLkney and Stoke Newlneton Icontlnued) Matters on whlth we are requlred to report b¥eKeption We have nothin£ to report in respert of the following matters in relatlon to which the Chariiies (Acctyjnts and Reports) Regulations 2(X)8 require us to report to you rf. tn our opink)n- the informatlon 8fjven In thè accounts Is Intonslstent In any materlal resK*rt with the Trustee< reporL' or sufficlent ac¢ountinq records have not been kept. or the accounts are not in agreement wth the accountin8 records,. or we have not recefved all the Infomiation and explanatlons we require for our audft. ReSpOn￿bIlItI•£ otTrust••s As explained more fully In thè statement of Trustees'responslbil￿e$. thè Trust*e5 are responsible for the preparation of the accounts and for belng satlsfled that they 8lvÈ a true and falr vlew, and for wch internal control a5 the Trustees determine Is necessary to Ènable the preparation of accounts that are frte from material mlsstatement. whether due to fraud oi error. In preparlng the accounts, the Trustees are responslble for asse55in8 the Circuivs ability to continue a5 a goin8 concern. dlscloslng. as appllcable, matters related to going concern and using the Boing Concern basis of a(￿untIng unle5S the Trustees elther Intend to cease operatlons, or hav* no realistic atternats.ve but to do so. Audltorfs wponsSb511tlas for the audlt olthe •¢(OUb We have been appointed as audrtor under section 144 of the Charities Art 2011 and report In x¢ordance wlth the Act and rel￿ant regulations made or havin8 effect thereunder. Ourobjectlvesareto obtain reasonablèassurance aboutwheiher thè attounts as a wholeare freefrom material m15Statement, whether due to fraud or error. and to issue ars audltorfs report that includes our oplnion. Reasonable assurance Is a hlgh level of assurance but is not a guarantee thai an audit conducted In accordance w￿h ISAS IVKI w411 always detert a material mlsstatemènt when It exlsts. Missiattments can arise from fraud or error and are consldered mattrtal if, lndNidual￿ or In the a88re8ate, they could reasonably be expected to influence the economlc dedskffis of users taken on the basls of thèse accounts. Irrèaularltles, Includln8 fraud. are Instan￿5 of nonKE NEWINGTON statèment (rf Flnandal Attl¥ltles for the ended 31 2022 lknr•stricled Funds R•strkt•d Fund5 2022 Total 2021 Total Ilot•s torne and Endowment5 fvom: Clrcult assessment Legacies Grants and donaUon5 recelved Investment Income and interest Rentsl Income Capital Receipt Other income Internal organlsatlons Total Income Exp•ndbture on: Charltzble a¢lMths: Stlpends and stsff costs.. Mln15trv Internal organlsations Distrlct aS5e55ment Tdephone. travel and admlnlstrotlon Malntenance on manse5 Olstrlct advance fvnd other expenditure lftternal organlsations Grants and donatlons Total expendlturt 128.594 4,000 IA74 697 54.208 3￿92￿98 78519 128,594 134.525 14502 15976 697 54308 3￿92￿98 78J81 20.967 95P21 21,644 285 33.800 62 26,324 io 35J31 226 788 114,933 12.OLTh) 6,924 126?33 6J24 43924 5,781 IOA58 1,161 41.930 14J05 i.iio 252 117,691 6,880 43.824 6.494 24.914 708 26.205 5.890 758 io 43.824 5,281 IOA58 1.168 41,481 500 li io 12 449 14.305 218255 N•t mov•ment In lunds 3,742,135 lJ53 3,743 16,S761 Funds balances at I September 2021 1.121,728 4,093 lJ25*21 1,132,397 Funds bal￿￿% at 31 August 2012 63 63 69 09 21 AJI actlvitles ?reclasslffied a5 con¥nuln& Page 13 THE METhoD1￿ CHURCH IN HACKNEY AND STOKE NEWINGTON Statement ot Fknandal ActIvIt￿$ for the •ndÈd 31 AW 2022 Comwatfve year Informat Yèar ended 31 Autust 2021 Lknrestrkted Funds R•strittÈd Funds 2021 Total Not•s ¢¢me and Endowmèntsfrom: Circult assessment Grants and donaiton5 rec￿Ved Investment incomeand interest Rentsl intome Other Incorr Internal or8anisations Tot41 InLx>m¢ EMpendStur• on: Charhable attfvli** Stlpends and stsff costs: Mlnlstry Iniernal organlsatfions Dlstrl¢t assesstr*nt Telephone, travel & adminlstration Malntertance on manses Dlstrict advance fund Other expendlture lJ)ternal organisations Grants and donat4ons Total e4wndl¢ur• 134,525 I34￿25 21.644 285 33000 26.324 10,210 226 788 21.644 285 33AOO 25A78 446 10,210 32 194 96.047 21,644 6￿80 117,691 6*80 43A24 6A94 24,914 708 26305 s￿90 758 64 io 43024 6,494 24?14 708 26205 li io 12 5,890 2SO 508 34 233 Net mowm•rf In fvnds 142121 12364} I6￿76) Transf•rs betwe•n fvnds 922 922 Net mo¥•ment In lun 15,1341 IIA421 165761 Funds balances at I September 2020 I,126￿62 5,535 1.132.397 Funds balance5 Ot 31 Au¢ust 2021 21728 ￿93 1 115 l actlvltlts are classlfied as tontinuln& Page 14 THE MEfHODISTCHURCH IN HACKNEY AND STOKE NEWINGTON lanc• Sheet a5 at 31 AuBUSt 2022 iknrestrirted Fwid5 Restrlrt•d Fu*HIs 2022 Total 2021 Total Notes Fl¥ed Asset$ Tanglble assets 14 4 656 375 4 656 375 4.656J75 4.656 75 963 477 963 477 Current Assets Debtors T.M.C.P. Interest funds Centr31 Fi nance Board Deposlts Cashatbankand In hand Fund h*ld by Interrsal Organlsations 16 2.906 46,738 124,259 56.640 2.906 46.738 124,259 59.373 2,713 235.989 8,723 28.334 113,937 48,376 2.733 230 543 Crtdltors Amounts fallin8 due &￿thIn one year 202 345 17 123,0551 123AISSI 140,0011 N•t Curr•nt Amets 207 88 212 934 162 344 Net Ass•ti SA46 1125 821 69 At£umulated fund$ Unrestrlcted funds Restricted funds Tot*1 Funds 4,863.863 4￿63￿63 SA46 4￿69309 1,121,728 63 5A46 1 125 821 27/612023 The at¢ounts ￿re èpproved by the Trustets on........................ and sl8ned on thelr behalf bv- R*v Andrèw L•tby Ch•lr Ofar￿{t C￿￿1t St•w*rd Page 15 THE METHoDisf CHURCH IN HACKNEY AND sfoKE NEWINGfoN Notes to the accounts for thèyèar ended 31 Awjst 2022 l. A¢countln8 policies a) Cirwit informatlon The Methodist Church in Hackney and Stoke Ne¥Angton 15 an unincorporated Charity in En8land and Wales. The maln address is given on pagè 4 of these accounts. bl A¢¢ountlng conventlon The accounts have been Prepared In xcordance with Chadtles Act 2011 and 'Accounting and Reportlng by Charitles.. Statement of Recommended Practlce applicable to Cha￿￿e5 preparing their accounts In attordance with the Flnanclal Reportlng Starsdard applScable In the UK and Republic of Ireland IFRS 1021 leffert￿e from ljanuary 20191,. The Circuit 15 Publlc Beneflt Etst￿y as defined by FRS 102. The Clrcult has taken advantage of the provlslons in the SORP for charft￿$ applyin8 FRS 102 Update Bulletln I not to prepare a Statement of Cash Flows. The accounts have departed from the Charftlts (Accounts and Reports) Rwlatlon5 2008 only to the extent rtqulred to provide a trut and fair view. Thls departure has Invofved folltiwing the Ststement of Retommended Prartlce for charities applying FRS 102 ratherthan the version of thestatèmentof Recommended Practke which is referred to Inth• Regulatlons but which hag sinté bèen withdrawn. Tht accounts are prtpafed in sterlln& whlch k the functlonal currency of thé af¢ult. The accounts of the Clrcult have beèn prepared undef the historlcal cost conventbn. modified to include the revaluatlon of investment propertle5 and certaln financlal Instruments at fairvalut. The principal accountin8 pollties are setout below. Goln8 ¢oncem At the tlme of approvlngthe accounts, the Trustees have a reasonable expectstion that the Clrcult has adequat• rt50urces to contSnue lft operatlonal exlstentè for the foreseeable d) Fundi Unrestrirted funds are held ft>r use at the dlscretitin of the Trustees In furth•rante of the general objectlves of the Clrtult. Restricted fvnds are funds whith are to be used in accordon￿ specrfic re5trirtions imposed by donors and grantors. The alm and use of the major restrirted funds are set in the notes to the accounts. èl In￿rn• f•¢0￿￿10￿ Churth as5 The Churth assessment Is ¥counted for on a recèlwable basls. Benevolen Benevolen￿ funds have been hlstorlcally contributed by the four Churches from their 8eneral funds and are accounted for on a recelpts ba$15 In accordance wtth Standin8 Order 527 of the Constitvtion of the m￿hod15t Church. Page16 THE METrIODIST CHURCH IN HACKNEY AND sfoKE NEWINFfoN Notes to the accounts forthe year ended 31Au8Wt 2022 Itontlnued) l. Actourtlng polkies Itontinuedl Grants and donatio￿ recel%*d Grants from third parties are induded when the relevant condttlons for the 8rant have been ￿et. VolL¢ntary income comprtses donations and Contributions and Lsacttyjnted forwhen entltlement ha5 been confirmed, the amount can be mèasured and recelpt Is probable. Rental Incoffle Rental income from Investment propertle5 is accounted for on a re￿Nable basls. Oth•r Income Other Income Is atcounted foron a rrfefrlable basls. Lunth Club Lunch Club Is th* project of theOrcu￿. The income Is*fjtherderivedfrom¥oluntarygrdntsorbyway of char1tableart￿ltle$. Investment tnc¢xnt and Interest Interest on dep051ts and invèstments is aCcI￿nted on a recelvable basls. IJ Exp•ndltur• reeo#nltlon enses All txpenses are accounted for on an accluais ba515. Any ensulng Ibabllltles are recoanlsed as soon as a le8al or constructl obligation arise5. ct assessmènt The Dlstrlct assessment b accounted for on an accru8￿ ba515. 81 Tanilble flx•d ass•ts Propertles are stated at cost or In the case of donated ?$5ets at the valuation at the date that the assèts are 8lfted to the Clrcult. The Trustees tonslder that the Ilves of the propertles are so lon8 and their resldual valv& $0 high based on prlces prevalllng at the tlme of acquisltion that the annual depreciation charge and xtumulated depreclatlon Is not material. Accordlngly, no depreclatlon is provided on freehold properties used for tharitable activtties. Any material impairment In the value of such properties. followlng an annual le￿ew, would bt thargeable to the Statemènt of Flnanclal Actlvltles. Asset5 havine an Initial c05t of £l,IXX) or lèss are written off on acquisltion. Ftxtures and fittings. offl¢e and computer equlpment havtng an ini1Sal cost greater than £l,(Xh) a￿ statèd at cost less depreciation. Depreclation rates calculated to write off thÈ cost less estimated residual value of each asset over Its expected useful Ilfe are as follows.. Fixture5. flttln8s and equipment: Office equipmènt.. IOX- 20% on a straiqht Ilne bas 20% on a straieht line basis The 8aln or Ios5 arfslr*g on the disposal of an asset Is d￿errnIned as the drfference between the sale proceeds and the carryinB value of the assèt. and Is recognised in the Stalement of Flnantial ActNities for the year. h) Cash and equfr4alents Cash and cash equSvalents In¢lude cash In hand. deposits held at call with banks. other short-temi liquld investments wlth original maturities of three months or le55. Page 17 THE MEfHODISTCHURCH IN HACXNEY AND STOKE NEWIN6foN Notes to the accounts for theye•r ended 31 Au￿t 2022 {contlnuedl Attounting ￿kIeS {ci)ntinuedl 11 FSnanclal instNments The Circuit has elected to appty the prov1511)ns of Sertion 11 '8asic Flnandal Instruments. of FRS 102 to all of rts finantial instrument5. Financial Instruments 3re rec(ydnlsed In thè arcuivs balance sheet ¥thLM the Circuit becomes party to the tontrattual provlslon5 of the Instrument. Flnanclal assets and Ibabllltles are offstt. wtth the net amunts presented In the accounts, when there Is a legal enforceable rlght to set off the recognised amounts and there Is an intention to settle on a net basis or to realise the asset and settte the Ilablllty SIMU￿aneOUsty. Baslcfinanclal assets 8asic financlal asset5, whlch include other debtor5 and cash and bank balances. are inithilly measured al transaction prltt Indudlng transattion costs and are subsequently carried at amortistd c05t using the effective Interest method unless the arrangement constityjtes a financin8 transactlon. where the transactlon Is measured at the present value of the future receipts dlscounted at a market rate of inttrtst. FinarKial assets classified a5 receivable within one year are not amortlsed. B4$5c financl•l IlabHh1*5 8aslc flnancial liabilities, Including other payables are Snltlalty reeognlsed at transJctlon prlce unless the affaftgement eonstitutes a financing iransaction, where the debt instrumenl 15 measured at the presertt value of the future paymersts discounted at a market rate of Intefest. Flnanclal Ilabllltles cla55111ed as payable wlthln one year are not amortlsed. 11 Employee beneffts The cost ol any unused hollday entltlementls recognLsed In the perlod In whi¢h the employee's servkes are recèived. Termlnatlon benefits are recognlsed Immedlatetyas an expen5ewhen the Clrojlt Is dLynonstrably committed to temilnate the employment of an employee or to provide termlnatlon benefftts. kl Retlrement b•neffts Stlpendlary Circuit Mlnlsters are e16glblt to join the Methodlst MlnLsttn' Pension Scheme IMMPSI. The MMPS Is a fundtd deflned benefit scheme malntalned by The Methodlst Church of Great Britain. As the Clrcuit is unablt to idèntify its share of the undedyin8 assets and liabi14ties of the schtrne, the Circuit has taken the advantage of the exemption in Flnanclal Aeporting Standard 102, Retirement 8enefits, and has accounted its contributions to the scheme as If It were a defintd ¢ontribvtion scheme. The pension costs forihe stheme represent the contrlbution payable by the Circult in the year. The contrlbutlon rates are set each year by the Mèthodist Conference. Access to a stakeholder pension scheme Is provided to all eligible lay employees and thè Clrcuit tontribute5 an amount equal to 6% of the employee's gross salary into thls scheme. Three employees arè contributing to the scheme. 2. Crltlcal atcountlno •sllmatw and h**rnents In the appllcatlon of the Circuivs accountlne polk*s, thè Trustees are requlred to make judgements. estimates and assumptlons about thè carrylng amount of assets and lia￿lItieS that are not readily apparent from other sources. The estlmates and assoclated assumptlons are based on hlstor6cal experience and other fartors that are considered to be relevant. Actual resuhs may dlfferfrom these estlmates. The estimates and undedying assumptiortrs are wiewed on an ongoing basis. Revisions to accounting e5timate5 are recognlsed the period in vthich the estimate 15 re￿Sed where the revision affects onty that period. or in the period of the revision and future periods where the revision affects both current and future periods. Page 18 ThE m￿HoDIST CHiIRCH IN HACKNEY AND STOKE NEWINGTON N¢rtes to the accountslortheyear eb￿ed 31 August 2022 Icontknued) Clrculi a5sessmenl 2022 2021 Clapton Methodist Church Clapton Park Methodist Church Da15ton Methodlst Churth Green Laneistoke Newington Methodlst Church Mare street Methodist Church 27900 24.800 20,800 20.800 45.175 23AOO 49.500 I18￿54 134,525 Grants and donatlon ren lknrestrkted Funds •strk*ed Funds 2022 Tot•1 2021 Total Travel PrintlnB Statlonery postage Telephone,internet and webslte Bank charge5 Investrnent m3nagementfee5 175 402 1,181 3.348 94 81 175 402 1.181 102 805 1.292 4,094 104 97 6,494 94 81 51)0 Page 20 THE METHODISTCHURCH IN HACKNEY ANO sfoKE NEWINGfoN Notes to the accounts the year ended 31 Aw 2022 {tontlbwedl malTrrten•n￿ on mwse$ Unrt5trlrted Funds ReStr￿+d Funds 20Z2 Total 20ZI Total Building repairs and maintenance Flre and securlty systems Manse Councll tsx Insurance Uts. lities. telephoneand other 5erylc8s 4,515 4515 284 3?46 2,775 62 17,923 270 3,117 2.722 882 3,946 2,775 IOA58 io 10. Internal orwls•tlofft# The Clrcult ha5 a lunch club project and the Inco￿ and £KpendI￿re was as follows.. Total R•strlct•d Funds In(om• and Ehd¢)wm•nts froffl: Grants recelved • Donatlon Received Activltles for Benera￿n& funds Charltsble actlvlJes Other Intome Tot41 Incom• 9￿01 loo 1.443 6.889 2.734 20.967 Exp•ndllure Charltable acYvl¥es Stsff costs Support costs Total exp•ndltur• 12.167 6.924 2,138 21.229 Net mo¥tment In fund$ 12621 Funds balances at I Septembw 2021 Funds balan¢•s at Ji Au8llSt 2022 2.97$ From London Borough of Hackney Fund. Page Zl THE METHODIST CHURCH IN HACKNEY AND STOKE NEWINGTON Notes to the accounts for th• yèar ended 31 Aw 2022 Icontlnued} 11. oth•r *xpendlture Unrestrlrted Funds R•Arkted Funds 2022 Total 2021 Total Tower Hamlets Methodlst Circuit fees aeanin8 and waste removal Trainin& Conference and workshops Mlnlstry Costs Relotation expenses Professional lee5 Independent exarnlner's fees Church l rndependent examIna￿on fee5 Lettl rng agent fees Subscrlptlon Apprentleeshlp Lery Other Èxpenses 6A20 8,505 675 4.436 6A20 8￿05 675 4A36 4,364 580 S,061 617 1,630 3.300 soo 4,056 1.452 281 17,S30 I7￿30 274 274 449 449 12. Gr￿t% don•tlons Unrestrkled Funds *strlrt•d Funds 2022 Toial 2021 Total I WeC¥n Dalston Methodlst Church Methodlst World Church Fund Others 145 145 250 50 50 408 758 965 965 la. Audi¢•rs' remun•r•tton 2022 2021 Fees payable to the Clr¢ulV$ •udltors ftsr audlt of the annyal accounts 8AI)O Page 22 THE MEtHODIST CHURCH IN HACKNEY AND STOKE NEWINGTON Notes to thè accounts fort￿year ended 31 Awst 2022 {COn11￿ed) 14. Tan8lble asgets Freehold Land & BulklSn Cost or valuathin At I September 2021 Additions - donated 3S5ets At 31 Au8ust 2022 963.477 3 692 898 4 656 375 The carrylng value of freehold land and bulldln8 ton4>rlse5 of- 2022 2021 Manses Church building 963877 963,477 56 75 963 477 Durln8 the yeaf, the Clapton Park Methodist Church building transferred tt) the arcult and has been ncluded at theTrustee5' esllmated value at the date of transfer. 15. Flnandal Instruments 2022 2021 Carryl rng amount of flnar)tlal assets Deblt instruments me35ured at amort1s￿ c05t Carryln8 amount of flnanclal Ilabllltles Measered at amortlsed eost 23 16. D•btors 2022 2021 Other debtors 17. Credltors: amounts f•llni du• wlthln on• ￿•r 2022 2021 Other Credltors Accruals 13A87 9.568 23x155 36,173 Page 23 THÉ METHODisf CHURCH IN HACKNEY AND STONE N￿111610N Note5 to the a¢¢ountslor the yearended 31 Au8U512022 l¢ontSN8d} 18. Restrkted funds Balan￿ as at 31Ab8.22 01ffj921 Komlng Out801 Funds i. Ustening group fund 11. Women in BrStèlrt (Network) fund iii. Internal Organisations lund 14.502 62 112.9491 1.553 1,180 1,118 4m3 34.178 5,446 l. LlstenlnKKroup fund- The Usknln8 Plac• Is run twice a week atStoke Newnglon Methodlst Church and 15 part of the church's outreach %4r)rk, encouraglng in¥ol¥ement wth the disadvantaged wthln the communlty. 11. Women In Brltakn {P4•tworkl fund - This lund Is a self financ1￿ and volunteer run ￿￿thIn the Methodlst Church in Britsln. 111. Int•rnal Orwlsatlons fund- Thls fund Is for the luch club project opearated within the Cli¢ulL 19. An•tysls ot n*t •5Xts b•tw••n funds iknr•strkt Funds Restrkt•d Funds 2022 Total Fund balanc•s at 31 August 2022 are representsy by: Tanglblefixed assets Net current assets 4,656375 207 488 4J63 4,656,375 212 9J4 69 46 20. Related partytr•isaLtlons The Clrcult 15 part of The London Dlstrict and Is also atcountsble to the Methodlst Conference, the ultl mate controllirtg body. Related partles a150 Include Mlnlsters. other Circuit and Church&. Central Flnance Board of Iht Methodlst Church and The Trustees for Methodlst Church Purposes IYMCP"). Detslls of the transac￿￿n5 occurrlng durlng the year we as follows.. M•thod5st thurth In Tow•r Ilamlgts IMcfHI During the year, the Circult paid mènagemont and adIr￿nistratIOn fees of £6.420 12021: £4,364) to MCTH for 5ervlces provlded by MCTh arculvs Chief EXe£U￿ve Officer and other members of stsff. Durlng the year, a loan owed from the Clrcult to MCtH an￿untIng to £9,(*X) was repald In full. West London Mlsslon c￿￿1t IWLMCI The West London Mi551on Circuit makes pay1￿5 to the artvit a5 rent and a5 ) contrIbU￿On to Councll Tax and the provision of tdephone and broadband. The amunt contributed thls year was £24,53312021.. £6.9861. Stoke N•wlb)Bton Mothodlst Churth {SNMCI Durlng the year. the Clrcult recelved management and administrztion fee5 of £24,99112021.. £16,7961 from SNMC for service5 provlded bythe Circuies membws of stsff. Page 24