THE METHODIST CHURCH- LIVERPOOL (SOUTH) CIRCUIT FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 Charity Registration No. 1134958
THE METHODIST CHURCH - LIVERPOOL SOUTH CIRCUIT CONTENTS Page Trustees, Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT ST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees are pleased to present their annual report for the year ended 31 $1 August 2024. The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland published (FRS 102) (effective 1st January 2019). OBJECTIVES AND ACTIVITIES Circuit Mission Statement: approved by the Circuit Meeting on 4th Dember 2003 - "To make disciples for Jesus Christ" Circuit Mission Policy: (approved 2011) We uphold the Methodist Connexional Policy of 'Our Calling,. which through worship, leaming, caring, service and evangelism, forms the basis of Christian discipleship. We recognise the Methodist Connexional Priority to proclaim and affirm God's love for all and the renewal of confidence in God's presence and action in the world. We affirm Methodism as a discipleship movement shaped for mission. We affirm that the Methodist Church is committed to being a growing, evangelistic, inclusive, just1-Seeking Church so that new people become disciples of Jesus Christ, faith deepens for everyone, and diverse communities and churches experien transformation. Circuit Mission Priorities: (2024) We are working together with God in the power of the Spirit to offer Jesus, invitation to people across our communities to follow him and discover God's way of living life to the full. Sharing worship and witness Deepening discipleship Encouraging the nurturing of children and young people Helping churches to identify and deliver mission in their neighbourhoods Use our cash, members. buildings and other resources wisely Provide a staff team that can lead and enable mission Provide outreach to the displaced in the inner city Church and Circuit leadership sUSsion planning: developing strategies for seeking Circuit Meeting members, Circuit Stewards, Worship Leaders, Local Preachers, and church offscers. Within an obligation to provide a safe Spa for all, meet all our legal and Connexional requirements Circuit Partnership We cherish our longstanding relationships with the Church of England and United Reformed Church in our Local Ecumenical Partnerships. We continue to seek to work with the wider Christian family and other agencies where we share common values and aims. Circuit Mission Action Plan (2022 - 2027) The Circuit and its mission are led by the Circuit Leadership Team, including our Superintendent, 2 Presbyters and lay workers. Worship: Supporting and training ministers, local preachers and worship leaders to provide a variety of forms of worship using technology. where appropriate, to be inclusive for all.
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 For public worship in local churches, we will provide preachers and leaders of worship orland online reSoUrS to share in worship. For those unable to attend worship and those preferring online worship, we will endeavour to provide online and telephone worship, plus written liturgies for those who cannot access the technology. We encourage the churches to meet in clusters and as a Circuit (twice a year). Discipleship.. Encourage the formation and development of groups for prayer and Bible study. We will encourage all levels of leadership to spend time listening to God and conferring together to discern and resource God's mission in each area. We will use the Circuit Meeting and weekly notices to share good resources and encourage the growth of small groups. We are committed to encouraging participation in ecumenical prayer gatherings, Thy Kingdom Come and Quiet Days. We will circulate prayer requests from Circuit churches for sharing in public worship and private devotions. Discipleship of Children and Young People: We have employed a Circuit Children's worker and a Youth worker, to develop groups in Trinity and Halewood churches and surrounding schools. At Circuit level, they provide oversight of the Circuit youth band and encourage attendance at 3Generate, Connect (South Liverpool youth gathering) and Deanery youth events. A regular 'Youth Matters, meeting shares good practice across the Circuit from the variety of children and youth activities and messy church programmes. We will review our children and youth work with help from the learning network. Provide training as requested by the youth and children's workers. Mission Opportunities: Support the Liverpool Districfs HE Chaplaincy work among students in the south Liverpool area in particular through the Drivers Group. Encourage attendan at Drivers - the young adults, congregation based at Elm Hall Drive but hoping to reach out to other locations. Support churches in developing buildings for community use and outreach. Encourage interdenominational outreach at Farmers, markets, Open Air witness and shared outreach projects. Encourage support of those groups working with addictions, mental health, bereavement, families, luncheon clubs, parenling and other support groups using our buildings and the Huyton café and Liverpool Zero Food Waste at Elm Hall Drive. Several churches are offering places of welcomelwarm spaces initiatives. We adopt the 3Generate manifesto to encourage all ages to engage in matters of climate change, compassion and mercy ministries and social justice projects. We will explore participation in Eco Church Award scheme. Resourcing Mission. The Circuit values the role of the Circuit Administrator in communicating by email and the weekly notices information from the Connexion. District and Circuit to the church members.
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT ST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Circuit has had a Youth Worker partly funded by a grant from Trinity, this being in an area of social deprivation. Following the resignation of the previous post-holder this has remined vacant and recruitment deferred. The Circuit is over-viewing plans for the use of churches in the immediate, medium. and long-term future. The Circuit has a Safeguarding Officer and 2 trainers to help churches provide safe spaS for all. The Circuit has brought all manses up to a good standard and will continue to maintain this standard. The Circuit will help to support young people and adults attending 3Generate. The Circuit has progressed work to ensure that all churches fulfil their legal obligations of finance, buildings, safeguarding. This includes a willingness to help co-ordinate and finance professional services (finance, property) for the individual churches within the Circuit who have inadequate expertise or capacity to manage these roles, assisting with both compliance and freeing up resources for outward facing mission work. ACHIEVEMENTS AND PERFORMANCE During the year a 'Circuit Way Fonvard Group" was convened to explore the future direction of our policy to encourage Circuit churches to deepen discipleship. focus on local mission opportunities and explore new and more effective uses of their skills, fInanS and premises. A major initiative arising from of the Way Forward Group was the offer of a 'Leading Your Church into Growth, course, led by a staff member from the URC Mersey Synod, which all churches have engaged with positively. Through these strategies and the earlier 'Choosing to Change,, we have made the decision to fund the new growth costs incurred from Circuit reserdes. The number of full-time staff is currently three presbyters. It is recognised that availability of presbyters and finance may mean this needs to be reduced in future years. A new permanent appointment to the post of Children's Worker was made on 1 St September 2023, and a Management Group has been working with him to give oversight to the work. Despite best efforts, we were unsuccessful in recruiting a Circuit Youth Worker and this has been deferred for now. The Circuit continued its mission by supporting online worship, facilitating the distribution of written copies of services for those unable to go online. Together with the experienced and dedicated Circuit Leadership Team, the Superintendent is seeking to bring insights from ministry across the Connexion, develop strategic vision and support for mission initiatives. The main source of income, the CiTCUit Assessment, reviewed annually, is an annual assessment upon each church. Ability to pay is considered in each of the churches. The Circuit's strategy of bringing the manses to be retained up to date remains ongoing. Additionally, those that are determined surplus to requirements will be sold or rented promptly. There is no intention to retain surplus property so any let will be short term. In this context, 34 Manor Road is let until July 2026.
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT ST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 FINANCIAL REVIEW Total income in the year was £405,732 (2023: £259,866) of which £23,845 {2023: £16,614), related to funding for projects upon which restrictions are plad. Total expenditure in the year was £294,756 (2023: £384,998), leaving a surplus for the year of £110,976 (2023: deficit £125,032) before gains on investment assets. At 31st August 2024 the charity's reserves stood at £2,416,926 (2023: £2,304,381} of which £1,950,692 (2023". £1.614,525) represented restricted funds. Risk Management The main risks, to which the charity is exposed. as identified by the Trustees, have been considered and systems have been established to mitigate those risks. Reserves Policy It is the policy of the charity to maintain unrestricted funds, which are free reserves at a level to cover redundancy provision and six months, running costs should no further fvnding be received. As at the end of the financial year the unrestricted funds totalled £466,234. The charity requires £4,815 for redundancy provision and £135,186 for six months, running costs (fotal £140,001). Plans for the future With declining membership numbers and the fact that staff and District Assessment costs forms the bulk of our expenditure, the Circuit is seeking to build on insights from the 'Way Forward, process and the 'Leading Your Church into Growth, Course. We aim to release reSoUrS to encourage worship, learning and discipleship, mission and evangelism. By sowing the seed of the gospel, we look for new disciples to emerge in and through our corporate witness. We will explore ways of enabling our churches to work better together, where possible through shared governance, and we will continue to review the number of staff needed to function effectively. STRUCTURE. GOVERNANCE AND MANAGEMENT The Methodist Church - Liverpool (South) Circuit is a registered charity; number 1134958 formed in 16th March 2010 and is governed by The Methodist Church Act 1976 and The Deed of Union 1932. The Methodist Church Liverpool (South) Circuit is a fomal group {S.0. 500 of the Constitutional Practice and Discipline of the Methodist Church) of nine mutually supportive churches across South Liverpool. In accordance with charity law, each constituent church is responsible for producing and presenting its own financial accounts each year. The Trustees of the charity under the terms of the Constitutional Practice and Discipline of the Methodist Church are known as Managing Trustees. The members of the Circuit Meeting are the Managing Trustees of the charity. They include the Circuit Superintendent, Circuit Ministers including Supernumeraries and appointed Lay workers. Circuit Stewards are elected to serve for six years. The remaining Trustees include the Circuit Administrator, Circuit Treasurer, Circuit Meeting Minute Secretary and nominated representatives from the nine churches of the Circuit. The Circuit Meeting, held four times a year. has been online during the year. Given the extended lockdown period and despite the demographic of the meeting, an online platfomi was the only realistic way to connect with our members who actually grew into this medium.
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31ST AUGUST 2024 In accordance with Connexional guidelines, by email agreement of the churches, the Circuit Leadership Team was authorised to progress any urgent items of business. The Circuit Leadership Team which consists of the Circuit Superintendent, Circuit Presbyters including Supernumeraries, appointed Lay Workers, Circuit Stewards and Circuit Treasurer also meet four times a year. The Circuit Stewards meet regularly throughout the year with the Circurt Superintendent. REFERENCE AND ADMINISTRATIVE DETAILS Name The Methodist Church - Live005 (South) Circuit 1134958 Charity Number Address & Office Elm Hall Drive Methodist Church Elm Hall Drive Liverpool L18 1LF During the year members of the Board of Trustees were as follows: Abiodun Adepitun (Resigned 31 St August 2024) Shirley Banks Pamela Bellis Pamela Boffey Christine M Bolton Katherine Cook Helen K Davies Gillian Dover Andrew A Dunsmore Andrew Gillespie Rev David Goodwin Charles R Hardisty Kate Harrison Mark Harrison Margaret P Harvey Roger Heath Derek Ho Elizabeth A Hudson Rev Peter Hughes Kim J Kershaw Elizabeth Lloyd Philip A Lodge Graham Martin Rev Dr Clement Matarirano Janine McGuire Jayne McLaren Carolyn Munro Ekpo B Orok Sandra Patterson Ada D Peers Arthur E Pye EdnaMP Trustees (Appointed 31 St May 2024) (Resigned 30th April 2024) (Resigned 31 $1 August 2024) (Appointed 1 St September 2023) (Resigned 31 St August 2024) (Resigned 31 sl August 2024)
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT ST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Trustees (Continue) Rev Jennifer C Rayner Alfred Salami Susan M Steel Judith M Sutcliffe Eleanor A Thomas Linda M White Peter Wood (Resigned 31 St August 2024) Independent Examiner Ying Huang, ACCA o LCVS, 151 Dale Street, Liverpool, L2 2AH Bankers The Co-operative Bank PIC PO Box 250, Skelmersdale, V*lN8 6wr Signed on behalf of the Trustees. Rev David Goodwin - Trustee Date: 11.1.03 .12L>15
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT I report on the accounts of the charity for the year ended 31 August 2024 which are set out on pages 8 to 19. The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required 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. sl Res ective res onsibilities of trustees and examiner Basis of inde endent examiner's statement My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seekin9 explanations from the Trustees Conrning any such matters. The prOdureS undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Inde endent examinerfs In connection with my examination, no matter has come to my statement attention: (1) which gives me reasonable cause to belEve that in any material respect the requirements: to keep accounting records in accordance wtth section 130 of the Charities Act. to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met" or (2) to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Name: Ying Huang Relevant professional qualification or body: ACCA Address: clo LCVS 151 Dale Street, L2 2AH Dated: JG/!1. :24
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31" AUGUST 2024 Notes Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Income and endowments from: Charitable activities Investments Other income 203,933 30,034 147,920 203.933 53,879 147,920 213,295 33,740 12,831 2b 2c 23,845 Totsl income 381,887 23,845 405,732 259,866 Expenditure on: Charitable activities 270,371 24,385 294.756 384,998 Totsl expenditure 270,371 24,385 294,756 384.998 Net incomel(expenditure) 111,516 {540) 110,976 (125,132) Transfer between funds Gain on revaluation of fixed assets Gain on investment assets (Loss) on investment assets 11,12 {333,338) 333.338 180,000 3.369 3,369 (1.800) (1,800) {900) Net movement in funds {223,622) 336,167 112.545 53,968 Total funds brought forward 10,11 689,856 1,614,525 2,304,381 2,250,413 Total fund carried forward 10-12 466.234 1,950,692 2,416,926 2,304,381 The notes on pages 10 to 19 form part of these accounts. All the above amounts relate to continuing activities of the charity.
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT ST BALANCE SHEET AS AT 31 AUGUST 2024 Notes st 31 August 2024 31st August 2023 Fixed assets Tangible fixed assets Investments 1,468,729 482,354 1,135,642 479,525 1.951,083 1,615,167 Current assets Debtors Debtors: amounts falling due after more than one year Cash at bank and in hand 14.523 665 16,487 3,107 716,915 494,874 510,062 736,509 Current liabilities Creditors.. amounts falling due within one year (44,219) {47,295) Net current assets 465.843 689,214 Totsl assets less current liabilities 2,416,926 2,304,381 Funds: Unrestricted funds Restricted funds 10,11 10,12 466,234 1 ,950,692 689,856 1,614,525 2,416.926 2,304,381 Approved by Trustees on ...... .. Rev David Go in, Trustee Graham Martin, Trustee
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" AUGUST 2024 1. Accounting Policies Basis of accounting The financial statements have been prepared in accordan with the Statement of Recommended Practi. Accounting and Reporting by Charities preparing theif accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (SORP 2019) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102) (effective 1 St January 2019) and Charities Act2011. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The Charity has taken advantage of the provisions in the SORP for Charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. Going concem At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adequate reserves to continue in operational existence for the foreseeable future. The Trustees are confident that the levels of liquidity and free reserves will not affect the charity's operations. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the accounts. Fund accounting Unrestricted funds are the charity's free reserves available for the Trustees to apply in accordance with the charitable objectives. Restricted funds are subject to specific restrictive conditions imposed by the donor. Income recognition All income is recognised once the charity has entitlement to the income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably. Donations and legacies comprise of donations which are recognised in the accounts when received, with the exception of known legacies which are accounted for when their receipt is certain. Income from charitable activities is recognised on an accrual's basis except for grants receivable, which are recognised on the date on which their unconditional payment is confirmed by the donor. Income from investment relates to bank interest and income from investments reiVed and is recognised when the amount is rtaIn. Other income relates to rental, branch income, and loan interest, levy investment refunded received is recognised when the amount is certain. 10-
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 Fixed assets Fixed assets (Freehold Property) are stated at valuation and reviewed by the Trustees on an annual basis and a professional valuation of all manses every five years. Depreciation is provided to write off the cost of the asset over its expected useful life on the following basis. Fixtures and Fittings Investments Investments are included at market value. Realised and unrealised gains and losses are reported in the Statement of Financial Activities. Expenditure recognition Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accrual basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governan costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. Expenditure on charitable activities relates to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the charity. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Cash and cash equNalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. 200/0 per annum reducing balance basis. Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounled at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" AUGUST 2024 Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initialty recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future reiptS discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Trustees are required to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. All expenditure is accounted for on an accrual basis. All expenses, including support costs and governan costs, are allocated or apportioned to the applicable expenditure headings in the Statement of Financial Activities. Support and governan costs are applied to unrestricted funds unless specifically included in the restrictions, as specified by the donor. Cost of charitable activities relate to the operation of the charity comprising of direct charitable expenditure to meet the objectives of the charity. Support and governance costs relate to the management and operation of the organisation and also compliance with constitutional and statutory requirements in producing the annual report. These are dealt with in the Statement of Financial Activities when payment has been approved by the charity. Taxation Income and gains are exempt from taxation as they are received and applied for charitable purposes only. The charity benefits from various exemptions from taxation afforded by tax legislation and is not liable to corporation tsx on income or gains falling within those exemptions. The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts inclusive of VAT. 12
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ST 2. Income and endowments from: Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Charitable activities: 3 Generate Activities Assessments Circuit service income Grants 3,326 250 202,740 943 250 202,740 204,990 943 679 4,300 203,933 203,933 213,295 Income from charitable activities in 2023 comprised £208,995 for unrestricted funds and £4,300 related to restricted funds. b. Investments: Bank Interest Income from UK listed investments 29,419 615 29,419 24,460 20,825 12,915 23,845 30,034 23,845 53,879 33,740 Income from investments in 2023 comprised £21,426 for unrestricted funds and £12,314 related to restricted funds. Other income: Investment levy income Loan interest Pension interest income Rental income 130,171 306 5.479 11,964 130,171 306 5,479 11,964 465 12,366 147,920 147,920 12,831 other income for 2023 related wholly to unrestricted funds. 3. Expenditure on charitable activities Direct Support & Charitable Governance Expenditure Costs Total 2024 Total 2023 Upholding the Methodist Connexional Policy of 'Our Calling,, which through worship, leaming, caring, servi, and evangelism, forms the basis of Christian discipleship. 239,686 55.070 294.756 384,998 13
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" AUGUST 2024 a. Analysed as follows.. 2024 2023 Direct charitable expenditure.. Staff salary costs Pension M inisterial staff costs Ministerial expenses Lay worker expenses Grants District assessment Manse expenses Ministerial Pension fund refunded United Reform Church fees Room hire Gifts and donations 37,828 2,121 122,277 7,659 832 45,557 56,880 25.045 (64,000) 34,007 1.811 114.653 6.799 2,134 10,506 56,188 50,333 4,350 350 1,712 943 239,686 282,843 2024 2023 Support & governance costs.. Investment charges Circuit office Circuit servi Sundry 3Generate Quinquennials Apprenti levy Insuran Rent Subscriptions and memberships Professional fees Loss on disposal of tangible fixed assets Payroll fee Accountancy Depreciation 22,585 1,271 1 ,228 703 4,496 5,274 696 2,615 12.320 571 1,350 10,288 1,524 3,214 668 2.591 17,500 469 500 63,488 480 1,170 263 480 1,230 251 55,070 103.155 Totsl expenditure on charitsble activities 294,756 384,998 £24,385 (2023: £14,588) of the above expenditure relates to restricted funding. 14-
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31" AUGUST 2024 b. Staff Costs 2024 2023 Gross wages and salaries Social securty costs Pension 35,344 2,484 2.121 32,013 1 ,994 1,811 39.949 35,818 Particulars of employees: Average number of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2024 2023 Charitable activities One Trustee is employed by the charity and included in the figure above; the Trustees are not remunerated for their services as a Trustee. 4. Tangible fixed assets Freehold Property Fixtures and Fittings Total Cost or revaluation Balan as at 1st September 2023 Additions Revaluation 1.135,000 333.338 1 ,364 1,136,364 333,338 st Balance at 31 August 2024 1.468,338 1,364 1,469,702 Accumulated depreciation Balance at 1 st September 2023 Charge for the year 722 251 722 251 st Balance at 31 August 2024 973 973 Net Book Value at 31 August 2024 1,468,338 391 1,468,729 Net Book Value at 31 sl August 2023 1,135.000 642 1,135,642 The properties were valued on the 11th August 2023 by Sutton Kersh, a Chartered Surveyor. This is to be reviewed every 5 years. The Trustees considered there is no material change required to the valuation on the 31 sl of August 2024. 15
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 5. Fixed Asset investments 2024 2023 Market value on 1 St September 2023 Capital intrOdUd Investment income Charges Withdrawals Net realised (gain) on investment assets Net realised (loss) on investment assets 479,525 316,887 276,512 12,915 {10,288} (115,601) 24,460 (22,585) {615) 3,369 (1,800) (900) st Market value at 31 August 2024 482,354 479,525 The investment assets are held by The Trustees for Methodist Church Purposes. 6. Debtors: amounts falling due within one year 2024 2023 Debtors Prepayments Other Debtors 3,326 10,884 2,277 12,082 2,441 14,523 16,487 7. Debtors. amounts falling due after more than one year 2024 2023 Other Debtors 665 3,107 Other Debtors comprise a loan to St James and at the year*nd 31st August 2024 the outstanding balan is £3,106 (2023: £5.384) bearing interest at 1.50/0 + base rate per annum. The base rate per annum as at 31 St August 2024 was 6.500k. 8. Creditors: amounts falling due within one year 2024 2023 Accruals Deferred income (note g) 1 ,230 42,989 1,170 46,125 44,219 47.295 16-
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ' AUGUST 2024 9. Deferred Income 2024 2023 Balan at 1 $1 September 2023 Amount deferred in the year Amount released to incoming resources 46,125 949 32,625 46,125 (4,125) (32,625) Balance at 31tst August 2024 42,989 46,125 Deferred income represents assessment fees which relate to future accounting years. 10.Analysis of Net Assets between Funds 2024 Tangible Fixed Investments Net Current Assets Assets Total Unrestricted Funds General Fund 391 465.843 466,234 Restricted Funds Tangible Fixed Assets Fixed Asset Investment 1,468,338 1 ,468,338 482,354 482,354 1,468,338 482,354 1,950,692 Totals 1,468,729 482,354 465,843 2.416,926 2023 Tangible Fixed Investments Net Current Assets Assets Total Unrestricted Funds General Fund 642 689,214 689,856 Restricted Funds Tangible Fixed Assets Fixed Asset Investment 1,135.000 1,135,000 479,525 479,525 1,135,000 479,525 1,614,525 Totsls 1.135,642 479,525 689,214 2,304,381 17
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ST 11. Unrestricted Funds Movements in the year Income Expenditure Revaluation Transfers Reserves at End of year Reserves Beginning of year 2024 General Fund 689,856 381,887 (270,371) (1.800) {333,338) 466,234 Movements in the year Income Expenditure Transfers Reserves Beginning of year Reserves at End of year 2023 General Fund 638,526 243,252 (370,410) 178,488 689,856 General Fund - is used to finan the charity's general activities and core costs as outlined in the Trustees, Report. Revaluation representing the changes in valuation of investments held by the charity Transfer between Funds - represents the movement in investment for the withdrawal for new manse. 12. Restricted Funds Movements in the year Income Expenditure Revaluation Transfers 2024 Reserves Beginning of year Reserves at End of year Tangible Fixed Assets Fixed Asset investment 1,135,000 333,338 1,468.338 479,525 27,214 (24,385) 482,354 1,614,525 27.214 (24,385) 333,338 1,950,692 18
THE METHODIST CHURCH - LIVERPOOL (SOUTH) CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ST Movements in the year Income Expenditure Revaluation Transfers 2023 Reserves Beginning of year Reserves at End of year Tangible Fixed Assets Fixed Asset investment Trinity Church Grant 1 ,295,000 180,000 (340,000) 1 ,135,000 316,887 12,314 (10,288) {900) 161,512 479,525 4,300 (4,300) 1,611,887 16,614 (14,588) 179,100 (178,488) 1.614,525 These are monies given to the Charity to be spent at the discretion of the Board of Trustees for specific charitable purposes as follows: Tangible Fixed Assets - representing Tangible fixed assets held by the charity and restricted by Methodist rules. Revaluation - representing the changes in valuation of fixed assets and investments held by the charity restricted by Methodist rules. Transfer between Funds - represents the disposal of assets and the withdrawals from investments Trinty Church Grant - Contribution towards the employment costs of a new lay worker. 13.Guarantees and Other Financial Commitments There are no financial commitments under non-cancellable operating leases (2022: £Nil). 14. Related Parties The following amounts were paid to Trustees. who are also Lay workers and ministers. 2024 2023 Name Natashia Bullock David Goodwin Rev Peter Hughes Clement Matarirano 1,833 29,990 27,280 27,280 32,319 29,399 29,399 19