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TRUSTEES REPORT & ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024

Charity Registration No: 1134517

Superintendent Minister ........................................................................................... 3 Bankers: ................................................................................................................... 3 Advisors: .................................................................................................................. 3 Independent examiners: ........................................................................................... 3 Mission Statement of Harlesden Methodist Church ................................................ 5 Financial Review ..................................................................................................... 7 Risk Assessment ...................................................................................................... 8 Trustees’ Responsibilities ........................................................................................ 9 Reserve Policy ......................................................................................................... 9

Charity Registration No: 1134517

Administration

Charity Registration No: 1134517

Names of Trustees:

Revd H. Elaine Joseph (Superintendent) Easmon Lavaly (Secretary till March 22) Josephine Nanor (Secretary from March 22) Val McCallum (Assistant Treasurer) Robin Sharp Ingrid Yarde Kwasi Amoah Veronica Boateng Florence Doherty Rupert Mikely Bevan Powell David Boampong Eric Oduro Bill Phillip Bevan Powell Kofi Baah

Stewards ( ex-officio Trustees)

David Boampong Veronica Boateng Florence Doherty James Howard

Superintendent Minister

Revd. H. Elaine Joseph

Registered Address

25 High Street, Harlesden, London, NW10 4NE.

Bankers:

HSBC Bank Plc 22 Victoria Street, Westminster, London, SW1H 0NJ

Central Finance Board of the Methodist Church (CFB) 9 Bonhill Street, London, EC2A 4PE

Advisors:

Trustees for Methodist Church Purposes (TMCP) Central Buildings, Oldham Street, Manchester, M1 1JQ

Independent examiners:

GMAK Services Limited

Flat 1, 26 Lansdowne Road, London W11 3LL

Charity Registration No: 1134517

Governance and Management

The Managing Trustees (Church Council) have overall responsibility for ensuring the proper administration of the charity; the safeguarding of the assets of the charity; the records of account and the compliance with all relevant laws and regulations.

Committees/Membership

The main committees are Finance & Property, Pastoral and Church Council. These committees are accountable to the charity and are charged with examining the effectiveness of the system of governance and making recommendations to the managing trustees. The overriding strategy for the life and mission of the charity is the responsibility of the managing trustees.

The church and Trustees would like to wish Revd H Elaine Joseph a happy retirement and welcomes Revd SangWoo Seo to the church, effective 1 September 2024.

The church currently has membership of about 150 adults and the total community roll is about 400, including children.

Charitable Objectives and Mission Statement

The calling of the Methodist Church is to respond to the gospel of God's love in Christ and to live out its discipleship in worship and mission. It does this through: Worship, Service, Evangelism and Learning & Caring

In partnership with others wherever possible, the Methodist Church will concentrate its prayers, resources, imagination and commitments on this priority:

To proclaim and affirm its conviction of God's love in Christ, for us and for all the world; and renew confidence in God's presence and action in the world and in the Church As ways towards realizing this priority, the Methodist Church will give particular attention to the following:

Underpinning everything, we do with God-centred worship and prayer;
Supporting community development and action for justice, especially among the most deprived and poor - in Britain and worldwide;

Charity Registration No: 1134517

Developing confidence in evangelism and in the capacity to speak of God and faith in ways that make sense to all involved;
Encouraging fresh ways of being Church.
Nurturing a culture in the Church which is people-centred and flexible

Mission Statement of Harlesden Methodist Church

Harlesden Methodist Church has developed a mission statement setting out key policies. In summary it states the following objectives:

Make disciples of Jesus Christ
Encourage and support young people in the church and beyond
Serve local community and wider world in both spiritual and practical ways
Unite with fellow Christians locally and throughout the world
Recognize and celebrate our unity and diversity and work to overcome division

Review of Activities

The church is fully opened with most activities back to pre-pandemic level. Governance meetings were conducted via Zoom for the church year, with occasional meeting after services. Worship services are conducted face to face with an option to join via Zoom primarily for the housebound members. We have seen an increase in the average participation at Sunday worship from 50 to 60.

Although, not meeting in person, the various fellowship group leaders have continued to support their members through telephone and various social media and meeting online, when possible.

In response to our mission to serve the local community, the church continued to maintain strong links to the community and participate in various Brent Council forums to address challenges faced in the neighborhood especially on antisocial behaviours and how to help make the streets safer. The 2020 shutdown contributed to the exacerbated antisocial behavior on Harlesden High Street with the church premises and the Day Nursery being severely impacted by such behaviors. The Trustees have raised their concerns and have been working with the Police and Brent

Charity Registration No: 1134517

council to find a solution. Planning application is in progress to build railings to deter antisocial behaviour, but the church is also mindful in projecting an inclusive environment where all are welcomed to the place.

In partnership with other denominations the church continued to support Horizons Fresh Food Bank, to meet on our premises and distribute food provided through the Felix Project and City Harvest. The Food Bank is run by local church and community volunteers, who continued to meet every Friday throughout the pandemic, with around 90 people per week being helped.

We opened up on church premises space vacated by the Nursery, an Affordable shop, receiving donations of secondhand household items, cloths, toys and other items for sale. Visitors to the space were able to pay what they could afford for the items they wished to purchase. This is additional ministry to support the community and raise funds for the church.

The Church continued to house a Syrian Refugee family in one of its flats.

One of the outstanding successes has been the merger of Harlesden and Notting Hill Methodist churches into one circuit from 1 September 2024. Each had remained a church and a circuit on its own for many years, but through the leadership of the District and respective Trustees, resources have been put together to serve the broader community and to forge new partnerships.

Financial Review

Income:

The church’s sources of income are primarily through rent income from regular users of its premises, residential letting and voluntary donations from its generous members. Total income during the year was £172,100 (2023: £144,100), an increase of £12,000 explained primarily by grant receipt of £21,000 and general increases in donations to support projects in the church. The church is still looking for loan and grants to help refurbish the residential flat that has remained vacant since October 2022. All funds of the church are unrestricted at the end of the reporting period.

Charity Registration No: 1134517

Total sources of income are primarily made up of the following:

Offerings and Gift aid constituted 32% (2023:32%) of its total fund, reflecting return of members to the church and various fund-raising events to support the maintenance of the large premises.
Most of the regular users of the church premises have returned resulting in an increased letting. The residential property at 4 Tavistock has been rented out at a reasonable rate to support Syrian refugee residents. The other flat remained vacant during the period and requires substantial renovation. The total income from both regular users and the residential lettings were 65% (2023: 65%) of the total income of the church.

Expenditure:

Expenditure for the year totalled £159,900 (2023: £151,400). Below is a summary of the key expenditure during the period:

Circuit contribution is made up of London District assessment of the Methodist church, maintainance of the residential house of the minister and stipend. This formed 34% (2023:50%) of the total church expenditure during the year.
Church running expenses which is primarily the wages of staff and office supplies was 33% (2023:25%) of the church’s total expenditure.
Repairs and maintenance were 22% (2023:15%) of its resources allocated.
Utilities and Insurance makes up 12% (2023:9%) of the overall church expenses.

Risk Assessment

The charity depends on voluntary contributions from members and a decline in voluntary contributions may affect the church's ability to meet its obligations. The charity also has rooms that it rents out for social gatherings and this fund is utilized to meet the financial obligations of the charity. The Finance and the Property Committee take responsibility for risk assessment that involves a review of the charity’s procedures on an ongoing basis.

Charity Registration No: 1134517

Trustees’ Responsibilities

The Trustees are responsible for preparing the financial statements that give a true and fair view of the charity’s financial activities in the course of the year and at the end of the year. In preparing the financial statement, the trustees should follow best practice and;

Select suitable accounting policies and then apply them consistently
Make judgements and estimates that are reasonable and prudent
State whether applicable accounting standards and statement of recommended practice have been followed, subject to any departures disclosed and explained in the financial statement and
Prepare the charity financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

Reserve Policy

The Trustees have agreed to maintain a level of 12-week operational costs as reserves in the current year. But it has not been possible to maintain this level of reserves during the pandemic.

Public benefit statement

The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit, “Charities and public benefit”.

These financial statements have been prepared in accordance with the Statement of Recommended Practice – Accounting and Reporting by Charities.

Approved by the trustees and signed on their behalf by:

Revd SangWoo Seo	Kofi Baah
Minister	Treasurer

Charity Registration No: 1134517

Church Accruals Accounts 2023-2024

THE METHODIST CHURCH

STANDARD FORM OF ACCOUNTS ACCRUALS BASIS

for the year end 31 August 2024

HARLESDEN METHODIST Church ee

~~ee~~ Registered Charity - Registration number 1134517 This will apply to all Charities in Scotland and to all Charities in England and Wales which are Registered Charities. Circuit no 35/13 ~~To~~

REV. H. ELAINE JOSEPH (Retired) Minister REV SANGWOO SEO (appointed 1 Sept 2024) ~~po~~ Church Stewards

VERONICA BOATENG JAMES HOWARD DAVID BOAMPONG FLORENCE DOHERTY

Treasurer KOFI BAAH ~~po~~

RMO/Accruals Accounts/2011 page 1 of 9

Church No

Name of Church: Harlesden Methodist

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

Notes to			Designated
the	General Fund		Funds	Restricted	Endowment	Total	Total 2022-
accounts	(Unrestricted)		(unrestricted)	Funds	Funds	2023-24	23
		£	£	£	£	£
Income
1 Offerings		37,738				37,738	26,193
2 Donations		8,081				8,081	12,925
3 Gift aid		10,511				10,511	8,891
4 Interest and investment income	-	79				-79	71
5 Income from investment properties		17,550				17,550	17,660
6 Income from Lettings		73,508				73,508	73,350
7 Other charitable income		1,744		-		1,744	2,981
8 Grant		-	21,259			21,259	0
9 Other Income		1,780				1,780	2,032
Total income		150,832	21,259	-	-	172,091	144,101
Expenditure
10 Circuit assessment or share		60,123				60,123	68,080
11 Salaries and associated cost		22,686	21,259			43,945	21,299
12 Property maintenance		21,203	-			21,203	23,252
13 Insurance,utilities etc		19,920				19,920	9,546
14 Depreciation		-				0	3,040
15 Office expenses		5,666				5,666	7,349
16 Other expenditure		6,594				6,594	17,274
17 Charitable donation		-				0	1,635
18 Internal organisations						0	0
Total charitable expenditure		136,191	21,259	0	0	157,450	151,473
19 Gains/(losses) on monetary investments						0	0
20 Gains/(losses) on investment properties						0	0
Net income/(expenditure)		14,641	0	0	0	14,641	-7,372
21 Transfers between funds						0	0
22 Other gains/(losses)						0	0
Net movement in funds		14,641	0	0	0	14,641	-7,372
23 Total funds brought forward		2,589,560				2,589,560	2,596,932
Total funds carried forward		2,604,201	-	-	-	2,604,201	2,589,560

Church No

Name of Church: Harlesden Methodist

Balance Sheet as at 31 August 2024

Fixed Assets	General Fund (Unrestricted) £	Designated Funds (Unrestricted) £	Restricted Funds £	Endowment Funds £	Totals 2024 £	Totals 2023 £

Church buildingand otherproperty	2,200,000				2,200,000	2,200,000
Investmentproperties	400,000			400,000		400,000
other fixed assets	0				0	0
*Total fixed assets*	2,600,000	0	0	0	2,600,000	2,600,000
Current Assets
Debtors andprepayments	17,556				17,556	11,824
Loans					0
Investments with TMCP	129				129	155
Central Finance Board Deposits	4				4	1,842
Cash at Bank and in hand	2,313				2,313	6,737
*Total current assets*	20,002	0	0	0	20,002	20,558
Current liabilities
Creditors (due in under 1 year)	15,800				15,800	30,998
Grantspayable within 2020-21					0
*Total current liabilities*	15,800	0	0	0	15,800	30,998
*Net current assets/liabilities*	4,201	0	0	0	4,201	-10,440

*Total assets less current liabilities*	2,604,201	0	0	0	2,604,201	2,589,560

Long term liabilities (due after more than oneyear)
Grantspayable after 2020-21					0
Loans to the Church					0
					0
*Net assets*	2,604,201	0	0	0	2,604,201	2,589,560

Funds of the Church

General Fund(Unrestricted)	2,604,201	0 0 0	0 0 0	0 0 0	2,604,201
Designated Funds(Unrestricted)		0			0	2,589,560
*Total Unrestricted Funds*					2,604,201	2,589,560
Restricted Funds			0		0
Endowment Funds				0	0
*Total Funds*	2,604,201	0	0	0	2,604,201	2,589,560

Signed

Church Treasurer

Church Accruals Accounts 2023-2024

THE METHODIST CHURCH

STANDARD FORM OF ACCOUNTS ACCRUALS BASIS

for the year end 31 August 2024

HARLESDEN METHODIST Church ee

REV. H. ELAINE JOSEPH (Retired) Minister REV SANGWOO SEO (appointed 1 Sept 2024) ~~po~~ Church Stewards

VERONICA BOATENG JAMES HOWARD DAVID BOAMPONG FLORENCE DOHERTY

Treasurer KOFI BAAH ~~po~~

RMO/Accruals Accounts/2011 page 1 of 9

Name of Church: Harlesden Methodist

Church No

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

Notes to			Designated
the	General Fund		Funds	Restricted	Endowment	Total	Total 2022-
accounts	(Unrestricted)		(unrestricted)	Funds	Funds	2023-24	23
		£	£	£	£	£
Income
1 Offerings		37,738				37,738	26,193
2 Donations		8,081				8,081	12,925
3 Gift aid		10,511				10,511	8,891
4 Interest and investment income	-	79				-79	71
5 Income from investment properties		17,550				17,550	17,660
6 Income from Lettings		73,508				73,508	73,350
7 Other charitable income		1,744		-		1,744	2,981
8 Grant		-	21,259			21,259	0
9 Other Income		1,780				1,780	2,032
Total income		150,832	21,259	-	-	172,091	144,101
Expenditure
10 Circuit assessment or share		60,123				60,123	68,080
11 Salaries and associated cost		22,686	21,259			43,945	21,299
12 Property maintenance		21,203	-			21,203	23,252
13 Insurance,utilities etc		19,920				19,920	9,546
14 Depreciation		-				0	3,040
15 Office expenses		5,666				5,666	7,349
16 Other expenditure		6,594				6,594	17,274
17 Charitable donation		-				0	1,635
18 Internal organisations						0	0
Total charitable expenditure		136,191	21,259	0	0	157,450	151,473
19 Gains/(losses) on monetary investments						0	0
20 Gains/(losses) on investment properties						0	0
Net income/(expenditure)		14,641	0	0	0	14,641	-7,372
21 Transfers between funds						0	0
22 Other gains/(losses)						0	0
Net movement in funds		14,641	0	0	0	14,641	-7,372
23 Total funds brought forward		2,589,560				2,589,560	2,596,932
Total funds carried forward		2,604,201	-	-	-	2,604,201	2,589,560

Name of Church: Harlesden Methodist

Church No

Balance Sheet as at 31 August 2024

Fixed Assets	General Fund (Unrestricted) £	Designated Funds (Unrestricted) £	Restricted Funds £	Endowment Funds £	Totals 2024 £	Totals 2023 £

Church buildingand otherproperty	2,200,000				2,200,000	2,200,000
Investmentproperties	400,000			400,000		400,000
other fixed assets	0				0	0
*Total fixed assets*	2,600,000	0	0	0	2,600,000	2,600,000
Current Assets
Debtors andprepayments	17,556				17,556	11,824
Loans					0
Investments with TMCP	129				129	155
Central Finance Board Deposits	4				4	1,842
Cash at Bank and in hand	2,313				2,313	6,737
*Total current assets*	20,002	0	0	0	20,002	20,558
Current liabilities
Creditors (due in under 1 year)	15,800				15,800	30,998
Grantspayable within 2020-21					0
*Total current liabilities*	15,800	0	0	0	15,800	30,998
*Net current assets/liabilities*	4,201	0	0	0	4,201	-10,440

*Total assets less current liabilities*	2,604,201	0	0	0	2,604,201	2,589,560
	0 0 0 2,604,201 0 0 0 2,604,201 2,604,201 2,604,201 0 0 2,604,201 0 0 0 0 2,604,201 0 0 0 2,604,201
Long term liabilities (due after more than oneyear)
Grantspayable after 2020-21					0
Loans to the Church					0
					0
*Net assets*	2,604,201	0	0	0	2,604,201	2,589,560
Funds of the Church
General Fund(Unrestricted)	2,604,201	0 0 0			2,604,201
Designated Funds(Unrestricted)		0			0	2,589,560
*Total Unrestricted Funds*					2,604,201	2,589,560
Restricted Funds			0		0
Endowment Funds				0	0
*Total Funds*	2,604,201	0	0	0	2,604,201	2,589,560

Signed

Church Treasurer

HARLESDEN METHODIST CHURCH

1. Accounting policies

Basis of accounting

The accounts have been prepared on the basis of historical cost, except that investment properties are shown at market value at the end of the reporting year, and on the accrual basis to show true and fair view of the Church's financial position and activities

Funds

The funds held constitute: General Funds held for any purpose of the Church which are Unrestricted. Restricted funds which are subject to restrictions imposed by the donor and can only be used for specific purposes.

Going Concern

At the time of approving the financial statements, the committee has a reasonable expectation that the church has adequate resources to continue in operational existence at least for the next 12 months. Thus, the committee continue to adopt the going concern basis of accounting in preparing the financial statements.

Incoming Resources

Incoming resources are included in the Statement of Financial Activities (SOFA) when the Church becomes entitled to that income, and the trustees are reasonably certain they will receive the resources, and the amount can be quantified with reasonable accuracy.

Resources Expended

Expenditure is recognised on accrual basis 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.

VAT

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

Tangible fixed assets

It is the Church's policy to capitaliseits non-building fixed assets, including furniture and equipment assets, with cost over £1,000 and to charge depreciation on these. All building fixed assets are capitalised with only the building element depreciated.

Residential rental properties are also treated as investment properties.Their valuations are based on vacant possession values reduced by one third to reflect their tenanted status.

HARLESDEN METHODIST CHURCH

2. Related party transactions: Payment to Trustees

Payments made to trustees for additional services provided to the Church by agreement with the Church Council Meeting

£	2024 -	2023
	-	-

Number of trustees who were paid expenses

Total amount paid

3. 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

	£
£		2,500		2,500
£

Staff Costs paid during the year were: Gross wages, salaries and benefits in kind Employer’s National Insurance costs Pension costs Holiday cover fo staff & Apprenticeship levy Total staff costs Average number of staff employeed during the year were: £ 4. Paid employees £ £ £	35,092 1,893 665 6,295 43,945 3
		19,829
		647
		823

		21,299

	3	2

The church provides a money purchased pension arrangement with Nest. There were no employees whose annual remuneration

HARLESDEN METHODIST CHURCH

5. Analysis of current assets

Analysis of current assets
Debtors and prepayments Other debtors and prepayments Total debtors and prepayments Rent in arrears Gift aid	2024 £ 7,044 10,511 17,556	2023 £
	7,044	2,933
	10,511	8,891

	17,556	11,824

6. Analysis of current liabilities and long term creditors

Internal Organisations Other Creditors Total Current Liabilities


15,800		30,998
15,800		30,998

7. 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.

HARLESDEN METHODIST CHURCH

8. Tangible Fixed Assets

Cost or valuation

Cost or valuation
	Church (non investment) land and buildings £	Other non investment land and buildings £	Investment properties (land and buildings) £	Other fixed assets including motor vehicles £	Fixtures, fittings and equipment £	Payments on account and assets under construction £	Total £
Balance brought forward	2,200,000	400,000		0	45,319		2,645,319
Additions							0
Revaluations(+/-)							0
Disposals(-)							0
Transfers *(+/-)							0
Balance carried forward	2,200,000	400,000	0	0	45,319	0	2,645,319

Accumulated depreciation

Accumulated depreciation
Balance brought forward					45,319		45,319
Depreciation charge foryear(-)					0		0
Revaluations(+/-)							0
Disposals(-)							0
Transfers*(+/-)							0
Balance carried forward	0	0	0	0	45,319	0	45,319

Net book value

Net book value
Brought forward	2,200,000	400,000	-	-	-		2,600,000
Carried forward	2,200,000	400,000	-	-	-		2,600,000

2024-08-31-accounts

CONTENTS

Administration

Charity Registration No: 1134517

Names of Trustees:

Superintendent Minister

Registered Address

Bankers:

Advisors:

Independent examiners:

Governance and Management

Committees/Membership

Charitable Objectives and Mission Statement

Mission Statement of Harlesden Methodist Church

Review of Activities

Financial Review

Income:

Expenditure:

Risk Assessment

Trustees’ Responsibilities

Reserve Policy

Public benefit statement

THE METHODIST CHURCH

STANDARD FORM OF ACCOUNTS ACCRUALS BASIS

for the year end 31 August 2024

HARLESDEN METHODIST Church ~~ee~~

Name of Church: Harlesden Methodist

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

Name of Church: Harlesden Methodist

Balance Sheet as at 31 August 2024

Funds of the Church

THE METHODIST CHURCH

STANDARD FORM OF ACCOUNTS ACCRUALS BASIS

for the year end 31 August 2024

HARLESDEN METHODIST Church ~~ee~~

Name of Church: Harlesden Methodist

Church No

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

Balance Sheet as at 31 August 2024

1. Accounting policies

Basis of accounting

Funds

Going Concern

Incoming Resources

Resources Expended

VAT

Tangible fixed assets

HARLESDEN METHODIST CHURCH

2. Related party transactions: Payment to Trustees

HARLESDEN METHODIST CHURCH

5. Analysis of current assets

6. Analysis of current liabilities and long term creditors

7. Capital commitments and contingent liabilities

8. Tangible Fixed Assets

Accumulated depreciation

Net book value

HARLESDEN METHODIST Church ee

HARLESDEN METHODIST Church ee