2022-08-31-accounts - Methodist Church In Tower Hamlets

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Trustees	Trustees
The full list ofTrustees who served during the year and up to date ofsignature		ofthe accounts were as follows:
Trustees who joined during 2021/22 are shown with an asterix (*),those who left during the year			with (**)and those
who left in 2022/23 are shown with (*'v).Trustees who have joined during 2022/23 are denoted			with (¹)
Mrs Glenda Adams	Dr Keith Aldred
Mr Joseph Amoah	Mr Jones Ankrah
Mrs Lucia Banks**	Ms Debbie Brady**
Ms Shirley Bristow***	Mr Andrew Brown**
Ms ye ma Coke	Mrs Sheila de Winter
Miss Jean Thomas	Mrs Harriet Graham-Mensa	h
Ms Cheryl Gurnham	Mrs Ivy Harber
Mrs Patience Yeboah	Mrs Dorrett Kirwan
Mrs Evelyn Louis Rev Jenny Impey ' Deacon Terry Street	Miss Laverne John*' Mr John Singleton Rev David Hollingsworth ¹
Ms Sarah Wilson** Revd Dr Jongikaya Zihle	Mr Doug Swanney¹ Miss Susan Bothamley ¹

				Unrestricted	Restricted	2022	2021
			Notes	Funds	Funds	Total	Total
				E	E	E	E
Income and Endowments	from:
Circuit assessment			3	5,000		5,000	5,000
Offenngs			4	6,867		6,867	4,257
Grants and donations	received		5	36,370	76,300	112,670	31,418
Investment income and		interest	6	26,852	8	26,860	26,223
Renta I income			7	135,543		135,543	135,068
Other income			8	73,974		73,974	32,661
Internal organisations			10		13,968	13,968	46,296
Total income				284,606	90,276	374,882	280,923
Expenditure on:
Charitable activities
Stipends and staff costs:
Ministry			9	285,664		285,664	311,476
Internal organisati	ons		10		67,832	67,832	90,091
Districtassessment				17,624		17,624	17,625
Telephone, travel &administration				11,323		11323	17,460
Insurance, utilities and		Rent		25,947		25,947	27,408
Maintenance on manses			11	9,520		9,520	22,309
Expenditure on other Circuit properties			12	1,884		1,884	1,069
District advance fund				25,210		25,210	86,025
Other expenditure			13	142,623	76,300	218,923	308,008
Internal organisations			10		33,485	33,485	32,562
Grants and donations			14	920		920	17,383
Total expenditure				520,715	177,617	698,332	931,416
Net (Iosset)/gains on investments				(73,650)		(73,650)	192,181
Net expenditure before transfers				(309,759)	(87,341)	(397,100)	(458,312)
Transfers between funds				(93,001)	93,001
Net movement in funds				(402,760)	5,660	(397,100)	(458,312)
Funds balances at 1September 2021				6,901,300	40,001	6,941,301	7,399,613
Funds balances at 31August		2022		6,498,540	45,661	6,544,201	6,941,301

Statement of Financial Act	Statement of Financial Act	ivities	for the year	ended 31Au	gust 2022
Comparative year information					Unrestricted	Restricted	2021
Year ended 31August 2021				Notes	Funds	Funds	Total
					6	6	6
Income and Endowments from:
Circuit assessment				3	5,000		5,000
Offerings				4	4,257		4,257
Grants and donations		received		5	31,418		31,418
Investment income and interest				6	26,220		26,223
Renta I income				7	135,068		135,068
Otherincome				8	32,661		32,661
Internal organisations				10		46,296	46,296
Total income					234,624	46,299	280,923
Expenditure on:
Charitable activities
Stipends and staff costs:
Ministry				9	311,476		311,476
Internal organisations				10		90,091	90,091
Districtassessment					17,625		17,625
Telephone, travel &administration					17,460		17,460
Insurance, utilities and Rent					27,408		27,408
Maintenance on manses				11	22,309		22,309
Expenditure on other	Circuit properties			12	1,069		1,069
Districtadvance fund					86,025		86,025
Otherexpenditure				13	308,008		308,008
Internal organisations				10		32,562	32,562
Grants and donations				14	17,383		17,383
Total expenditure					808,763	122,653	931,416
Net gains on investments					192,181		192,181
Net Expenditurenbefore	transfers				(381,958)	(76,354)	(458,312)
Transfers between funds					(83,504)	83,504
Net movement in funds					(465,462)	7,150	(458,312)
Funds balances at 1September			2020		7,366,762	32,851	7,399,613
Funds balances at 31August		2021			6,901,300		6,941,301
The notes on pages 18to 29form an integral				part ofthese	accounts.

			Unrestricted	Restricted	2022	2021
			Funds	Funds	Total	Total
		Notes
Fixed Assets
Tangible assets		16	3,902,765	250	3,903,015	3,907,149
Investment properties		17	1,185,471		1,185,471	1,185,538
Investments		18	452,519		452,519	914,168
			5,540,755	250	5,541,006	6,006,856
Current Assets
Debtors		20	641,338		641,338	578,347
T.M.C.P. Interest	funds		58,993		58,993	403,954
Central Finance Board Deposits			213,064	81,796	294,860	102,348
Cash at bank and	in hand		106,058	4,265	110,323	33,140
			1,019,453	86,061	1,105,514	1,117,789
Creditors: amounts	falling due within one year	21	(55,662)	(40,650)	(96,312)	(174,501)
Net Current Assets			963,791	45,411	1,009,202	943,288
Total assets less current liabilities			6,504,546	45,661	6,550,207	6,950,143
Creditors: Amounts	falling due after
more than one year		22	(6,006)		(6,006)	(8,842)
Net Assets			6,498,540	45,661	6,544,201	6,941,301
Accumulated funds
Unrestricted funds			6,278,540		6,278,540	6,681,300
Restricted funds		24		45,661	45,661	40,001
Revaluation reserve			220,000		220,000	220,000
Total Funds			6,498,540	45,661	6,544,201	6,941,301

Notes to the accounts f	Notes to the accounts f	Notes to the accounts f	Notes to the accounts f	Notes to the accounts f	or t	he yea	r	ended 31August 2	022 (continued)
3.Circuit assessment
									Unrestricted	Restricted	2022		2021
									Funds	Funds	Total		Total
									E	E	E		f
Poplar Methodist			Church						5,000		5,000	5	000
									5,000		5,000	5,000
4.Offerings
									Unrestricted	Restricted	2022		2021
									Funds	Funds	Total		Total
									f	f	E		f
Bethnal	Green	Methodist			Church				1,655		1,655	2,700
Bow Road Methodist				Church					5,212		5,212	1557
									6,867		6,867	4,257
S.Grants and			Donations received
									Unrestricted	Restricted	2022	2021
									Funds	Funds	Total	Total
									E	E	E	f
London	District								35,460	76,300	111,760	30,984
Others									910		910		434
									36,370	76,300	112,670	31,418
6.Investment			income and interest
									Unrestricted	Restricted	2022		2021
									Funds	Funds	Total		Total
									E	f	E		f
TMCP Investment			holdings:
Dividends									21,749		21,749	21,625
Interest									405		405	4,243
Central	Finance Board deposit interest								521		529		126
Loan interest									4,177		4,177		229
									26,852	8	26,860	26,223
7.Rental income
									Unrestricted	Restricted	2022		2021
									Funds	Funds	Total		Total
									E	E	E		f
Income	from investment				properties			held	135,543		135,543	135,068
8.Other income
									Unrestricted	Restricted	2022		2021
									Funds	Funds	Total		Total
									E	f	E		E
Bequests and		legacies										1,030
Ma nag	ament	fees							36,171		36,171	14,604
Gain on	disposal		of	tangible		assets			23		23	1,037
Gift Aid	received								1,717		1,717	1,064
Insurance claim									1,032		1,032
Bow Road MC properties					hall	letting		income	20,016		20,016	8,544
Bethnal	Green	MC properties				hall	letting income		8,805		8,805	5,931
Old Ford MC properties					hall	letting		income	5,924		5,924		450
Other income									286		286		1
									73,974		73,974	32,661

								unrestncted	unrestncted		Restricted	Restricted	2022		2021
									Funds			Funds	Total		Total
										f		E	f		E
~Ministr
Stipends									55,496				55,496		55,964
Sa Ia ries									193,269				193,269	208,639
Employer's	National		insurance						13,709				13,709		22,067
Pension Costs									23,190				23,190		24,806
									285,664				285,664	311,476
Salaries											61,168		61,168		77,825
Employer's	National		Insurance								2,994		2,994		7,596
Pension Costs											3,670		3,670		4,670
											67,832		67,&32	90,091
The average monthly		number ofstaff		employed		dun	ng the	year was 12(2021:14).
There were no employees			whose annual		emoluments		were	E60,000 or	more.
9a.Trustees'	emoluments
One or more Trustees		have been paid remuneration					or have received		other	benefits	from their employment of Office Holding
with the Circuit.	Trustees		only receive		remuneration		in respect of services			they provide		undertaking	their employment		roles
under their contracts		ofemployment		and not in respect oftheir services as Trustees.
													2022		2021
													f		E
Mr John Singleton													8,268		8,174
Mrs Dorrett Raid	Kirwan												11,882		11,665
Rev John Hayes															34,324
Rev Jenny impey													36,193
Mr Andrew Brown													2,805	43,523
Decon Terry Street													33,058		32,591
Mrs Debbie Brady													43,423	42,925
Ms Laverne John													28,757		20,511
													164,386	193,713

			Zacchaeus	Band for	Total
			project	Life	Restricted
				project	Funds
				E	6
Income and Endowments		from:
Donations received			2,782	10	2,792
Grant received*			2,912		2,912
Activities for generating	funds		663		663
Charitable activities			7,262		7,262
Other incoming resources			317	22	339
Total			13,936	32	13,968
Expenditure on:
Cost ofgenerating funds			40
Charitable activities			18,633	13,805	32,438
Support and staff costs			68,746	93	68,839
Total			87,419	13,898	101,317
Net expenditure before	transfers		(73,483)	(13,866)	(87,349I
Transfers from unrestricted		funds	75,000	18,001	93,001
Net movement in funds			1,517	4,135	5,652
Funds balances at 1September 2021			35,183	2,902	38,085
Funds balances at 31August 2022			36,700	7,037	43,737

		Unrestricted	Restricted	2022	2021
		Funds	Funds	Total	Total
		6	6	6	6
Building repairs and	maintenance	916		916	12,260
Fire and security systems		456		456	522
Insurance		3,247		3,247	3,318
Utilities, Telephone	and other services	4,901		4,901	6,209
		9,520		9,520	22,309

12.Expend	iture on other Circuit propert	ies
		Unrestricted	Restricted	2022	2021
		Funds	Funds	Total	Total
		E	E	E	E
Building repairs and maintenance		665		665
Insurance		1,164		1,164	1,069
Professional	fees	55		55
		1,884		1,884	1,069

				Unrestricted	Restricted	2022	2021
				Funds	Funds	Total	Total
				f	E	E	E
Buil di ng	and	equi	p ment costs	27,948	66,728	94,676	47,844
Depreciation				4,134		4,134	4,134
Finance	costs			1,388		1,388	1,917
General	and other		ad hoc expenses	15,137		15,137	20,138
Bad debts written			off	16,104		16,104
Ministry	costs			5,379		5,379	4,366
Professional		fees		71,505	9,572	81,077	228,044
Staff welfare		and	training	1,028		1,028	1,565
				142,623	76,300	218,923	308,008

			Unrestricted	Restricted	2022	2021
			Funds	Funds	Total	Total
			E	f	f	f
Grants						8,004
Donations			920		920	9379
			920		920	17,383
1S.Auditors'	remuneration
					2022	2021
					E	f
Fees payable to	the circuit's auditors	for audit ofthe annual	accounts		6,600	6,600

							Freehold	Fixtures
							Land &	Fittings &		Office
							Buildings	Equipment		Equipment	Total
Cost or valuation							f	f		f	f
At 1September 2021
and at 31August 2022							3,890,717	29,847		14,180	3,934,744
Depreciation
At 1September 2021								21,923		5,672	27,595
Cha rge for yea r								1,298		2,836	4,134
At 31August	2022							23,221		8,508	31,729
Carrying Amount
At 31August	2022						3,890,717	6,626		5,672	3,903,015
At31August	2021						3,890,717	7,924		8,508	3,907,149
The carrying	amount offreehold		land and building		comprises		of:
										2022	2021
										f	f
Freehold land										40,000	40,000
Manses										1,290,069	1,290,069
Church buildings										2,560,648	2,560,648
										3,890,717	3,890,717
The net book	value	of office equipment		includes	f5,672	(2021; F8,508) in respect of assets			held	under finance	leases. The
depreciation	charged in respect		ofsuch	assets amounted		tof2836(2021:52		836)for the year.
17.Investment		properties
										2022	2021
										f	f
Market value	at 1	September 2021								1,185,538	1,186,101
Dis p os a Is										(67)	(563)
lylarket value	at 31August 2022									1,185,471	1,185,538

												2022	2021
												E	E
Valuation at 1September 2021												914,168	721,987
Disp osa Is												(387,999)
Valuation changes												(73,650)	192,181
Valuation at 31	August		2022									452,519	914,168
Investments held by Central				Finance board
At 31August 2022												452,519	914,168
19.Financial	Instruments
												2022	2021
												E	E
Carrying amount	offinancial				assets
Debitinstruments		measured			atamortised		cost					1,092,753	1,488,078
Carrying amount	offinancial				liabilities
Measered atamortised			cost									95,287	177,506
20.Debtors
										Unrestricted	Restricted	2022	2021
										Funds	Funds	Total	Total
										E	E	E	E
Prepayments and accrued income										66,347		66,347	4,436
Other debtors										574991		574,991	573911
										641,338		641,338	578,347
21.Creditors:	amounts			falling due			within one year
								Notes		Unrestricted	Restricted	2022	2021
										Funds	Funds	Total	Total
										E	E	E	E
Obligations under		finance leases								2,837		2,837	2,308
Other taxation and		social security								7,031		7,031	5,837
Deferred income								23			40,650	40,650
Accruals										32,008		32,008	153,979
Other creditors										13786		13,786	12377
										55,662	40,650	96,312	174,501
22.Creditors:	amounts			falling due			after	more than		one year
										Unrestricted	Restricted	2022	2021
										Funds	Funds	Total	Total
										E	E	E	E
Obligations under		finance leases								6,006		6,006	8,842
												2022	2021
Net obligations	under		finance		lease and	hire purchase contracts:						E	E
Repayable within one			year									3,696	3,696
Repayable between		one and		five years								7,455	10,032
												11,151	13,728
Finance charges	and interest				allocated	to	future accounting		periods			(2,3081	(2,578)
												8,843	11,150
Included in liabilities			falling		due within	one year						(2,8371	(2,308)
												6,006	8,842

23.Deferred Income
		Unrestricted	Restricted	2022	2021
		Funds	Funds	To~at	Total
		E	E	E	E
Other deferred income			40,650	40,650
Deferred income is included	in the accounts as follows:
		Unrestricted	Restricted	2022	2021
		Funds	Funds	Total	Total
		E	E	E	E
Deferred income is included	within:
Current liabilities			40,650	40650
Movements in the year:
Deferred income at 1September 2021
Resources deferred in the year Deferred income at31August 2022			40,650 40,650	40,650 40,650

			Balance as at			Transfers	Balance asat
			01.09.21	Incoming	Outgoing	between funds	31.08.22
			E	E	E	E	E
Funds
i.Internal organisations ii. Bow Road Methodist Church iii. Bethnal Green Refurbishment	Organ Fund	Fund	38,085 1,916	13,968 8 76,300	(101,317) (76,300)	93,001	43,737 1,924
			40,001	90,276	(177,617)	93,001	45,661

		Unrestricted	Restncted	2022
Fund balances at 31August 2022 are represented	by:	Funds	Funds	Total
		E	E	E
Tangiblefixed assets Investments Net current assets Long term liabilities		3,902,765 1,637,990 963,791 (6,006)	250 45,411	3,903,015 1,637,990 1,009,202 (6,006)
		6,498,540	45,661	6,544,201