NEW RIVER METHODIST CIRCUIT LONDON Charity Registrntion Number. l 135316 Circuit Number 35122 Annual Report and Financial Statements 31 August 2013 T3ndem Accounting Lrd Charrered Accounrants 17 Heathville Road London N19 3AL
NEW RIVER METHODIST CIRCUIT LONDON Annual Report and Financial Statements 2023 Contents Page Legal and Adrninlstrnthe Infformat*)n Anrwal Report d theTNste Indepffjdert Examkner's Rwrt to th• Trurtees Statement of FITh<1 Acthldes Balance thett Notes to the Fhanclal Ststements 12
NEW RIVER METHODIST CIRCUIT LONDON Legal & Administrative Information For the year ended 31 August 2023 Charity Name New Methodi%E Grcuit London. Principal Addras Palmerstty) R(#d, hlmers Gw. London 8ftA. Governlng tlocumEnt Deed Of ithlon119321 and MethodisE thurch Act119761. Objectives The charity's rr4in cbleeth Is w aer 4$1 reswrce pro¥lder for 9 chuhe4 ithln the are¥ ¥round North Ld. c¢w&ln8the b(¢u8hs cl HarlThgw and a 5fflall sKtion of Enfield for the M#hod15t thurch. The purpose5 c4 the Methcojist Churth r and shll be deemed to h•¥¢ beeTh nce the Date of Urti the advane•nt th. ) Th• Chtisrian l•lth ln ¥¢¢xdaThce ith th¢ d4xvifkal sRndards and discipline of The Methodist Churth.. bl Any charitsble purpose kf the btlrt4 clany c¢Xla1. DI$t& GrculL l¢Jcal er other wg¥ni5ation olThe Methodist Church.. cl Afiy chadr•ble purp¢)se &y the ome bdni Of 4ny In5tivJ sub%Idry gr anclllary w The Methodist Church.. dl Any purpose lor the lime ts8 of any charity b•nia charfty subiidllry or antillary to The Methodlst Churth. Trut• The TNst••s y•d durlni th• yw s•yfjni 41 th• dat• of th1$ wort Rey S. Poxon T. Samud Rev M. Lunn Rev Et. Mazlnley flev R. Week Oe•¢ty) M. Poxe Comb IChalrl&JwNtthdtnt undl 31 fvly 20231 IChairlSuperirtendenr from l August 2023 IRe5iiTrtd 31 Auiust 20231 {Admlnlsrdtorl rsurwl C AyTonQJuah C Ambr05e C ArhSn E Aidoo G Akr¢J•r l Arhi l Arhinthlthsah R Ankcryh T Addo G Chri50¢ I Chad¢s K 1¢% CDad E DOIr E D¢nkor U Dubwry C Eileen Alkn IKw5 S K¢)oms É Min8 P Masuk S Magin Y Maginley ANart E OpokoAbebre5eh l O%wsuAn O Phlpp# TPO B Simpson 8 Fenning C Fakeye M Glynn M Hardinz D liagze G lamerah P King l Beerko L eThman S Baidoo S Bant s eoakye D Wade D Watson
NEW RIVER METHODIST CIRCUIT LONDON Legal & Administrative Information For the year ended 31 August 2023 Key Mn8emen¢ Personnel Thty¢ In ch•ryed dlrerriTh& CLffiTrc41kn& rnnnlngand 4yaDng the charity on a day ty day basis tr¢ Active Circuit Minister¥: Rev steph PoxL. ThuTrir4jah Samud. Rev Rupèrt Rev Robert Pkgirlley. Deason rtIe Poxon. Re Matthew Lunn CJr¢ult Stvwdi: Mr T. Addo. Ms L wmIn. Ms E. c8ftw, Mr K Coares. Ms nln& Mr Its T. Ms L The4np Adn4nl¥¢rnts)r. Ms & Cwbos Tr•uur•r. Ms L ThL¥np5I Lloyds Bank 25 Grnsham Street LondoTh EC2V 7HN Ind*p•ndent Ex&Trn•r )hN H4m ACA Tand•)) ACc¢yJnrn£ L 17 Heathville R¢xd LMd(x) N19 3AL
NEW RIVER METHODIST CIRCUIT LONDON Annual Report of the Trustees For the year ended 31 August 2023 The Tru5tee5 submit thwr anrlual report and the financial sTrEth)enrs ol RNer MethodisE Circuit Lnndan r'th Circuit") for the year ended 31 August 2023. Thefinancial ststunents have prepared in the format prestdbed by the Ststernerit of Recomrnded Praciicc Accounting and Keportin2 by Chariues ISORfL019 IFRS1021l The legal and adminls07tFve inlormation set out earlier in thi5 document forrn5 parn of thi5 r4sorL l. Strutthr4 GovnntÈ & MAn82mtht The goYcrniDs documoni fc the Orcuit is the Deed of Union 119321 and the Methodist Church Act 119761. Detailed governance arrdngernts areoudined vAthin the C0Th5tivJtional Practice and DiKipliThe of the methl$t Church by order of the annual conference ICPDI. The arcult 15the trusthe body and consists dcllce h¢ldus and reprtwt•¥vu ol the loc41 ¢hurchuthIft th• arcuit vtho are all annualty appclnted by thurch Cour•cll& The Orcult PerInt Is ¢Y officlo Chalr d th Qrtult mttn8 Day to day man4emen¢ d tht Qrru4t is und¢rAk¥ by the fy¢ui¢ LNdf45hlp Ttam as sp¢¢lfic ccffimlTtees lor Orcult An4n¢< Circu¢t Property and Grr¥it Pdicy The Clreulr 1$ parr of the L¢ndon Disrrici and is made up cl 9 churthes.. limsbury Park Hdfy Pirk Middle Lan< MIlr meMorf. Muswdl Hlll, RAV$d14 St Mark& Ttk)ityAtkn and Wlllouihby. 2. A¢dvltl•s & Publ1¢ B•n•fi¢ The princlplll purposed the l1t• 4¢t•s • svppw¥ni body <hvrthtsnd the '11¢t and Cthlntxion. The Clrcuit does not seek and in ffleasu doe5 not atsaln dirttr conTacE vath the publlc. The dlrttr con¥¢E Is by th• Indivldual thurthts. It Is thse that the Ortult supports In thdr deslre to provlde benefit to the publlc. The Clrrulvs nlne churche5 have a Y5bran¢ Urban muldthnlc evaTr8diral conir4ath %lth i membershlp of over 850. The Trustw h•vesl¥th due reprd to the Chadry C¢)tI¥ThS. guidanctcffi public benefit During the year the circu churthes con1inu to cary lUt the fOlknn8 ac¢ivioe5 in ¢xder to prMKte the Gospd in their local neighboutthood5'. Sunday Worship Chlldren & Youth's acdvldqs PAble Study and prnyer medn% Chrlsdan counsdlifig Pswral vl¥ts J. R•Yl•w OfPrvy•M & AGh1•ments Thls ha5 a g¢xd chalknglng y¢arfrxth¢ Cfjr¢ulL The rslne£hurthes tet0 ste mc*e pts¥lt reDJrnillK to Ir1P aftrr Covld. H£ver. there are stiN a rbumbor of people have Tr¢x rewrn and ether5 hav• detlded w leav The ChUh year began wtth the Orcult knIn8 that 3 nwnbers d staff we due to leave the Orcult by August23. Th prrffipted 50rne changin8 d pastoral responsibility across the 9 churches and a minisw was invited to ¢(mE into the Circuit to replace the Rev Robert Maiinlw. although for dHlewt churchek The Robrt after 7 years of ministry ' the Nfw River Circuik VAS invited to minister irb the R¢rnford ClrcuK and the Grcuit gave him a thank you rewdl in
NEW RIVER METHODIST CIRCUIT LONDON Annual Report of the Tru5tee$ For the year ended 31 August 2023 The Re¥ Sr¥Jhen and Si5w Myrde Nyere coming to the of thar l Oear ministry at St Mark's. Sadly. a match ith a rnlnister ro bec(Jme the superintendwr was not POS5ibl& The Grtuit app¢Anted cne ol the present nwnisr. the Rev Thuralrtjah Samud, as superintend¢ #nd Invited bc4h Swhth #nd Myrde to dts an eXa year as part-tim acuve 5upernumertrfes. During the year the Cirtult Trtssr£es gaveapproyallor a fl building prciects acro55 the Qrcult and were 3150 ab to offer smallgr4nty ro help toward5 the repair& renuat1 and improvement schemek Good nevo fv the Cir¢uit wag the cornpletion ol renoY¥ting (Aie olthe tircuit rnansts Into i renral property. We havehappywifiTsandthe month renTal his begun to hdp the Orcuit recoup the renodiioh expts)dlwrt ind will brinz muth nded extya fvnds Into the arcult Hf way through the year. of the churthes indicat¢d thai they were sIrulIng ty) pay their a¥se5smenL The Qrcuie 18reed to allow thttn ro pay thty could hr thls year. Ir wa¥ agreed that the wtyjlo trander up to £30.0 from the Yovth ro the Reserves frjnd to hdp fund the Cirtuirf$ acpyipes. Desplr• all thls th•re havobew 5w¢ good stor1# thrtyJghtyJE theyor. Hc41yPark h45w a 8rovATr8 SundySchool and Middle Lane recwved 4 new MJe. hilx Trinity4trBrM has £rtted a hub to ittract more people Ir¢m the ¢ommvnity. mus1 Hill has seen a pOti¥e rupwse w Lego Churrh ¥nd St Mark'5 is hopin8 to be8in a Pws, 8rf8•dt. Our lon%qtt L(al Pyuchw. 04¥¢d RfAtsrkk dled In Octobtr and we uid a fond f4redl to twr Circuit admlnlsvawr 8t< Ctsnbes Irb Augu$4 These are but• narnt5 the pwl vkno s•rY¢ God th•lr lotsl ehurthes and a¢$ th• Or¢uiL We thank G¢d for them ill. Itv Sttphtn Poxon {wpthnt•ndwi 2012-23) Flr44nclal A4vlèw 4.1 Flnanclal Actlylty fjd Flrt4n¢l4 P{tiOn The Circui¢ is frJnd by #eh ol th• nifbe ¢hyrch¢s ¢ontributyn8 an annual assessmtht yld quarwty. Them Is alw Incom• from Inveso))ts)t propeny and a small arrwnt Irom Inttrest Inc¢n The Srat•nent of Nnintil AcDvilles and the &)l•nc• Sh••t un b• pag•s 9 and I l rnsp•ctivdy. The Clrcuies financial r•sr(e5 increased by £796.435 durlni th• y•ar P022: by £l10.5701. Th• Blan¢• Sh•rt Sho ¢•thl frjnds d £3.076.594 r1022.. £2,280,159 4.2 Rtstrwes Pollcy The Trustees have examined the kr reservw and exsider. givw th• nwr• of the Clrcult's work th•ttht gtnernl r¢strvs shId b••qtJi¥aloncto rover at least three fflth% norrral expaidlture. Thlsis deemed sufficlenL 51 In tho ovont th¢ aUl£ Ass055rrn¢ Ir churthw thin th• ¢Èr¢yit h4X m•r ¢Jr to m••t any unlor4srtAn it&mS ol major expehdiDJrt on m%nse5 and to be bl• w ¢nu9 it) th• shw wm thg funding ofnomMI daily 0xpondire. At 31 Au8USt 2023 the Circuit hd netfree eVe d £68,816 Q022.' net Iree reserves of £105.8741 as I1*$..
NEW RIVER METHODIST CIRCUIT LONDON Annual Report of the Trustees For the year ended 31 August 2023 2J 7022 Totd arcult F¥nds Less.. .CUr¢S5 Le5s.' De5watwJ & Resukted lunth 3.076.594 P.945POOI 162.7781 280.159 12M80.0001 194,2851 6e816 105B74 Free Reservei ftqulrement 3 rrJnth'3 budseted roucine eypendinrt 93.7¢)0 89,800 TFie tDJsrees arn aw4r¢ that the current free r4¢¥ ire below thè free requIrwt and are atdvdy loon& ways in tt[Ch pady can be restored. 3 Inveitrn•n¢ Pollcy The Circult currty)dy Ir$VU ¥pre ndS Ifi barlrkg bank accouThL 4.4 Gran¢$ Pollcy Th¢ Qrcuii rnakes specThlt grnrtrs ro wpport the ¢ngc4hg th al churrh¢s Withln the tlrtult The p<Aicy of the Clrcuit 1% to give 8IIDt¥ th• ba% that they art subjttr ro annual rv4iew and onty renewed the basis ¢f rneeting set Graftrs were granted to t1+ thurehes In the cyrrwt financial year to thjnd bulldlni % Plns for Futur• P•rlodA The Clrtult pkn$ w contlnue exlstimg Chdsdln acdvldes by prryrfldln¥ Jupp¢)rt w lu nlne mber ¢hurch¥. The Cirtubt ro 14ce firlancial chalknges du• ro fallifi8 chr(h membership ind th• nwj w hdp finance urKert building th ar wv¢r•l churche& Whilst Orculf Incwe Is lorecast to be tsrldy unchanged. txpendlwre lll incrtase Ippro¥lmatdy 4%. Therekr¢ the Clfculr Leadfnhlp Ttam have made the dilTrcult declslt)n to reduce from 6 to 5 the number of fvll Um¢ equlvaient ordintd sraff. Thls should the Grcuit to 8)ernte a small surplus tr the 2011a4 flnanclal y4r. Whilst them Is al the po4slbillty d another small deficiL thert w511 be wffjclenr cash r¢se¥ to absorb thls ddclL Accordin8ty, thé trustyes hivt cwcluded it is apprnpriate to pnpare the 2023 Accwnts m • 8¢ln% concvn basis. The Trustees are re5PCnsiblt hr th• rqport and the financial In ¢¢4xdance1th appllcable law United Ksngdcm Genertlty Ac¢ept¢d Accounung PTrdicE Charity law in Engl•nd •ttd Wales require5 the Tru5teei to prepare finlnclal 5tsternents for each finnclal year, thich give a true and &ir of the stare of aff4lr5 of the ¢h3rtty tl the incoming reswrc¢& 2nd application d rel1¢e% c4 the ch8dty tr that year. In prepa8 those finan¢W ststementy the Trustee5 irt rtyuir•J select sui(able acrwnting pc4Kies aThd apply them t$1$[¢nrty,. obs¢ the method5 and principles of the Ch¢iDes SORP, make judgements and e5rJmare5 th#t arÈ rasonable and pruden¢ sttte thether ippl1ble accon% sTrndards have been Id10. subject to any dtyarnjres dlsclosed and eKpl¥in¢d in the fifiancial srat¢merts'. and prw4re the finncKIl $Tarynenrs ¢n the¥cAngconcern basi5 unlusrt 1siThppropritew prtwmethatthe acdvlles the charfty *lll conn
NEW RIVER METHODIST CIRCUIT LONDON Annual Report of the Trustees For the year ended 31 August 2023 The Trustees are responsible keeping adUl accounting records. which disclose with reasonable accuracy at ume the financ1 p05ition of the charity an¢J enable5 thwn ro ensure tha¢ the financial statwnents comply with the Chariti Ae( 2011. the Chlrfty IA¢twnts and Rep¢) RegulaiitsTrs 2008 and the provisions ol the governing documenL Trustw are also re5ponsibl¢ for safeguarding the assets of the charity and hence lor tatring rea5able steps for the prtyendon and d¢t¢CDen of fraud and c¥hr irrnguFariDvh Th¢Trustes are r•w%ble fc¢ the mainrenance and int4rity of the Qrcuit's financial inforn)auon included in the Circui¢s bsit& 7. ApproTAI Tht Annual Rtport cl the Truslets ¥prcf¢ed by the artuit CtIl ort 16th tnber 2024 and sl¥ned Jn Its btha¥ by.. Rtv. Thurlrniah San (Chalr)
NEW RIVER METHODIST CIRCUIT LONDON Report of the Independent Examiner to the Trustees of New River Methodlst Circuit London For the y&v ended 31 August 2023 I report on the financial srarements of the New River Methodist Qrcuit L(tsn for the year ended 31 Augusr 2023, set tOTr pw 9 10 21 Thi5 report is made solety to the Trustées in accordance with SeCOn 145 of rhe Ctharitie5 Att 2011 Ithe Artl. My independenr exarnination has been undertaken thar I Mhr srate to the circu Council those matters I am required to sure to them in an indepen¢knt miner'S report and for ng other purpose. To the full( extent peryntrred by the law. I do not accept responsibility to anyone other than thè Trust and the Trusrees for my independent examinaOn. for thls repork or the opiniorts I have formed. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The Trustees consbders rhac an audit 15 not required lor this year {under section 144121 of the Acr) tnd that an independenL examinadon Is need It is my re$ponsibilÈty w.. Examine the account5 (under 145 of the Attl.. To f¢Jll¥w the procedures laid down ift the General (Xrecrion given by the Charity Commission (under $8Ction 14515llbl ol the Attl.. and To state whether parricur matters have come LO my atlenuon. BASIS OF INDEPENDENT EXAMINER'S STATEMENT My examinaiion was carried out in accordance with General Direciions gfven by the Charity Cornmi$5ipner5. An examinatiort includes a revie<¥ of the accounvng records kept by the charity and a comparison olthe 2ccounrs prÈ5ented with those records. li a150 includes ¢onsiderarlon of any unusual items or dlsclosure5 In the ac¢ouDts. and seeking explana¢ions fr¢m the Trus$ concerning arry suth matters. The PedureS uttderraken do not provide all the evidence would be required in an audiL and £onsequendy I do not express an audtt ¢pinlon on the ac¢ounu. INDEPENDENT EXAMINER'S sfATEMENT I have compleced My Eyamintion. I confimi that no materiat matters have come to my attention In ¢onne¢tlon with th¢ ¢xaminadon p'8 me cause to believe thai in any material respe¢ . accounting records were not kept in respert of the arcuii as required by Secon 130 of the ACE or 2. the accounrs do nor accord those record& or 3. the actounts do not ¢ompty with the applicable requ1MentS concemingthe forn) and content ofaccounts sec im the Charitles (Accounts Reports) Regulaiion5 2008 other than any rwuirement that the accounts give a'true and fair View, whith is nor 3 mtLer ¢onsidEred as of an Indewdent examinaon. I have no concems and have come acro55 no other matters in connKrion with th¢ examination ro whlch attentlon should be drdwn in reporr in to propw understanding of the accounts w be reached. John Helm ACA 16 September 2Q24
NEW RIVER METHODIST CIRCUIT LONDON Statement of Financial Activities (SOFA) For the year ended 31 August 2023 T<tsl 2023 Funds Furlds Funds Income FroftL DoDatyon5 & Le¥xv4¥ Charirabk ACtryits 7.4 353 7,753 336J19 JlJ31 336019 32.322 Invttuwlrs Total Income 37SJ JSJ 376.894 Expendture O RsIng Funds GrAnts & CharftabkGfvlni 316 18,0 ISJ67 18,000 240217 240217 Manse Mwt¢nant 25h35 25,635 t¥strKt Assessnnt •lJ36 76S Omke Exp4nsé¥ Oth•r 7h98 7h98 31.541 31541 Ttst Exptndltw 31$1 430.459 Gth51ILcrfsesl lnve5tyrnt Prqjwtt 850DXI 8SO,000 Net Incomel(Exp•ndltw•) io 83l94Z 13&860) 353 791435 Tnnsltrn 8etsveen Fund5 N•t M•v•mnt In Fund• 827.942 (31.860) 3SJ 796.43S Tot41 Fund¥ Brough¢ Fonvard Il•S.V4 I280.159 Tot•1 Fvth Crrled Forward 4013.81 4I4Z5 353 3.076.594
NEW RIVER METHODIST CIRCUIT LONDON
Statement of Financial Activities {SOFA)
Comparatives for the year ended 31 August 2022
Totsl
Funds
Funds
Fufftds
2022
Income Fyom:
Don5 & L¢ws
Charitabk Actr41
662
2.793
361312
In¥estsTrwnu
902
348
1.2SO
Tot•1 IoM•
363070
34B
1131
36S.5$5
E¥p•ndltur• On:
Rthing Funds
Granu & CharlEab Gfvknl
86.436
86,436
226.459
226.459
Mans¢ Mahrenan¢¢
2Sts42
25,042
C¥sirict A5se5Snnt
94.414
9,936
W44
1478
96.902
Otllce Expen5e5
9.938
973
29217
Totd Exptndltw•
359,165
114.829
I131
476.125
Nt InMl
NEW RIVER METHODIST CIRCUIT LONDON Balance Sheet As At 31 August 2023 Jrm Fuhds Funds 2023 rot 2022 2023 Flxed Amets TAnOble Rxed AAse Inve5unentP 1.73OM ijoo.oc 1,730WO 1,200mO 2.080,000 12 1930.000 2.930.000 2.080.OOQ 15.99S 15.995 19.423 wlth Trus¢¢a lry Mtthodryt Church Purpo5 0ry105 Cenirnl naThCe Pthrd 30.695 30.695 30556 125.648 31.730 157.378 273MIO 8,091 Cash Ai &nka Ha 18.459 3$3 18.B12 160.102 62.425 353 222.880 331JBO Crltors. Ann8 Du• Wlthln On• Year 91.286 91286 68316 61425 353 131594 200,159 Loan5 Rt<qlvable After Mort Than One Y• 16 15,000 15,000 J.013.114 6142$ JSJ J.076.$94 210,1$9 Furldi ofth• Clrcult R•pr•t•d by Unrutrkthd 17 3,013.010 61425 2,195874 94.285 D¢$#1 Fun¢Js IUnrtttrkt•Jl 61425 rotl Uhr•kt4d Fund 3A113J16 6?A2S J.076.241 2.190.159 R45ts4Ct Fund5 353 Jsj Totsi Fwsd JSJ 3.070&94 12N159 Thefi l sraw))ty)ty apprtr4•1 by the Trust*s 16th Septymbtr 2024 and Signed on Its behalf br. Lorna Thonwknon
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 l. Attountln# PollcS•J The principal accwnting policies dopr•Y. ludgemens and sources al ertimatic uncerninty In the PrtP2ratyI of the financial siaternents are al fdl¢)%YS'. Bsls ol eeountlng The financial 5tsttynents have preparJ under the Chariw Acr 2011 and in accordance the Charities ReccKnmended Practice IChari¢i&¥ SORP IFRS 102lland hnancvdl Reptyiing S¢an&rd 102 IFRS 1021. The financial stttemenrs are dra%n up on the histweal tosi basis ol accourtinR cePt for the of freth¢ild L4nd and buildinxswhich are shown at fair valu& The finantSal S¢%fty))th)TS includ¢all tsnsactkn& assets and IlabSllrhs for thlch the Clrcul¢ Is responslblt In law. Thw do not Include the accounts of <hurch grwps that an affilvaiion to another body or tho%¢ that ar• inforTfAI Iatherlny of arttslf m•nb•rn. The Cirtult meets th• d•finivon p¥bllc benefit entity uthd•r FRS 102. Goln8 Concern There are no miterfal b¢)ui th• ehrlw's ablllty ty con¥nue as a ¥alni (Cern ahd acee¢dlnity the accwn¢J have been dra%4n up on a gcAni (0Cern ba$. Income MEoqnldon Vduntary Income and On¢ludln8legacknl ar <ctyJnt4 lor onc th• Clrcult has enddem•nt w th IDCfm& Ir li pr¢bable the In<¢2rnè bt rK4v•d ind the affwnt cl intcrfnt can be rdbty ffleasured. Inccrne from the rexovery ol tax w gbft aid dcnarkffjs Sx irb the period ro which the rel¥¥•nr 00n ts recd. Grantlntomt Is recogn15ed on a recwvablo basil. Tht Sncc¢ne from tndln8 lttcludes r•nul kncome frnm the leuin¥ cl Grtuit and freth¢4d land and buildlry whlch Is accounted Icr •Jrn•d. lTrt¢re5t fvnd¥ hdd on deposlt is Included recd¥¥ble and the •wunt can be mÈlrI rdthbly by the OrEul¢ th1515 normalty upon notyfi<atyoD c4 th• iht•r•s¢ payabl¢ by the bank Expendlre recognldon Expendlrvre is accrued 4$ soon as a liability is tonsid•r•J probbl& and th• irrwnt d obligation ¢lln bt msured rdlably. L¢nger term liabllles are discountsd to pre1 Y4lu& The Ortulr is nof wistved VAT and accordlnily expendlturt intlude VAT there appropriate. Charttab Lxpendltyre Includts ¢hosé t)sts ID fvthlllng th• Clr¢ut¥ prlnclp41 45 oudlrbed In the Report of th• ClrtulL ThES¢ Include gThnc8 papble and governance costs.. Grnnts pwyabl•arn payments made to thlrd parties in furth•rydDc• d th• Orrulrs ¢bl¥ts. In the case of an uncondition gr4nr offer thls Is accrued cTrce the recipient ha5 noDfied of the grlni award. The nlficatien 8iYe5 the recipient a sonable expecTation that thry will receive the KrtnL GroTs awards thar sub11 to the recipient frjlfillir p¥frJrmanre conditions are onty accrued the re(ipitht has b¢•i nrthed of the irantand any remaining unfuthll condiuon attaching to that gr4n¢ is outsidE ¢)Fthe £trol d the QrculL Governance costs ctymprise all Costs inYdvin8the public 3ccountsbility c4 the Cir(utt 4fid ity c•mpliance*ith reguladon athd 8¢Jod prt<ticty Thw C¢Xts include costs rdated to the exlminaiion and 14al fee 12
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 l. Atcountlng Polltlts (eontlnu•d) TanKlble Flxtd Ass Tangible fixed ¥sets are accounted kn $ frjlow The Circuit land ind buldings are ststed at hi5tLYi¢ CWL DepTttaeD nor provlded as the MIled rnslduai valve 15 considered to be the same or higher than the £arryln8 Yalue of the prLW in th¢ acce The cost of lurniwrt. firDngg andequipmenL c4 avdlvegreaTU than £l.000.le5s anyexpecred residual valueare caplttllsed aTrd deprEciated on a suaighr4ine basis ovar the eff¥DY¢ usethjl lile of the as5eL vknich has been estimated at fiye years. Investment Propertl Investment Properd¢s ¥r• profqs4wally lU•d at mark•r le. D•btor¥ Debrors Included at the arrwn¢ du¢ Pryaymwts r• ¥al¥wJ a¢the amount PId. Lo5 Where Conce551ry k4n$11.¢. fre¢ rd interest) av• mid¢ lj¥¢d by) thé Ortult w fiJrth¥ lty th4rftsble purpos14 2nd are repayableafter TTwe than one year. they art Inlolty recognis&J at the amount pald lor ¥1, the carryirq Alut adjusted ¢n subsequeni years to rdeci rtyaymen¢s Ind any £crued ini¢re5L adju5t¢d 4Jr iny iryalrnien¢ If nec¢5SIry. Where th¢r¢ Is objective oYid£e of Impairmer4 an immedwte impaimwt I Is recoznised in the of Flnancl Ac¢vldes. Subsequent rcrfer5a15 d an Imp•irnient Ioss that ¢JbjectyY rd•t¢ w an o£currin% aftqr th• impiirm•nt lo was recqnised, are recognIs irNnedtatdy in th? Pin•n¢lal A¢o¥nies. Cuh at bank and on hnd Cash it bank and In hand Intludes cath Ind thorttwm hhty Ilquld Investments with a short mawrfty dthr•e months or lesi from the date of ¥qnini d th• deposit Credltort and provlslon Credlr¢rs and proY151ans are recognised whert th¢ CrItY has • prwthir irflngkn a partevent that%ill prcbab rwuli in tho transhr ¢1 fvnds tg a thlrd pafty and the imryjnt due to setde tht obl0 can b¢ measured or estirrtea rtlla61y. Credlt¢rs and proviscths are ynISed a¢th¥r setdernent am¢uiiL Fund aetounflnl The fvnd5 held by the Ch• art elther. Unmvicred 8•¢ral frjnds are fiJnd5 thich can be used ee•rdaACeth the charttlble able£ts at the d15credon of the rustees. The Grcuit Trust Fund has Wd• purpoxs ddned In Sndl Ordw6 and Is ca4oristd as UDr¢Thlet•J. Dtscretionary Fundi arn knnds wthich have e4rm3rked lor a p1Cular project or thout rtrIenI Or commiNn8 the hJnds 14lly. The desitnatity) may b canc4led by the trnstee5 if they later detide that the Charity shouhl not proEeed or Continue the use or proiett tr wthich the hjnds were desnIted. Restricted tunds- these are hJnd5 th¢ ean only be used for parricular resTncted p¥rp05es within the objects ol th• charity. Restricti$ arise 4then by the fijnds are fais&J for partiCur resthcted purposes. There Mye no Endowrnt Fund& 13
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 l Donatlon$ & L¢ga¢les Furmh Funth Funth Tlt•l 23 Tot 2•2J 2•2J 2021 J53 7,75) 1793 J53 7,753 2,793 3. Charltable Acthiltle5 Th N•w River M•thoolsi Gr¢¢LOndOn ass•55Th &J•fromaxYth•5 ro th• Gro[6X thèywwere 202) I2 Flnsbwy Pa Holty Pafk Ml¢SJe LI 25A 39.346 20A24 21.W2 21,902 Miller Mer•1 Mwwell Hll J6.360 36,360 65.754 65.754 16216 kmarks 73.942 Y3.N2 59576 59.576 WimbY 17245 27.592 536M19 Churth auewrnnt5 ar• anrthlty when Fw4rfr4the forec ThMeUrl&f0r •th ¢hwrh I¥vdent0 thB nurnbor oftt5 mEner& Wltherthere are other Income (church h•ll rtntsl& thlld ¢r r¢ntr¢l or the need forfiAStt be•JeotI5wOr¢ 11&. rwrnd rt(#)vAfioThwork Investment¥ Trt Totsi 1023 20 IntErnst Iorne TneS ltsr MethothsrCFrtwth 991 348 Jrp05es (TMCP) Central FlrAnce rd 4.956 4,956 902 R•ntal Ihcon 41 Ajhford Anue 26J75 16J75 )U22 1250
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 S. Ralslng Funth Fd$ Totyl 20 Totsi 2022 R•htal Pyopotrty Aynt Fe¢5& Exptns Jlléing Reno¥uoTr & ReFAfjry 316 3J16 I lJ64 I lJ64 86rtJ6 Tru¥tM¥ forM¢th•dknt Cfrwch Pw••i IYMCP} AdrnInlM FMS 87 3A16 15267 86.436 th• syopery ¢0 the nynirun #anthrd r•wir¢d bdav itctyjd b• r•Tht4d Th• ax not£Thllsed the work outthd natre5ul% in lryYoY rts th m¢rty. 6. Grants & Chvltable Glvln8 The GredtrradtArAMS (o the loll&*lr¢£hw¢hw conthtrAKl0n5trI th?Ir r4wc6v4 1¥JllLlrywo& Tithl Tot•1 2022 SL Mirkx Iomoo WI11¥hbY 18mO Th• Fth Furt Furth Totsl Tot 1023 GlYkn¥ to OryanSsatknns JIWe&n 1131 15
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 7. SAlarles & As%Klated Costs hjnds Funds Totsl 23 2Q22 mlnistrrsp¢n¢ts & Allow1 Or(ultAdnlAsrdtor Employels NdoNI Appr•ntic•thip l••$ P•iwon Con¢n¥t 173m9 6.146 16.724 876 43.462 173 6.146 1&724 876 52YI 15.621 845 43.462 41.6 240217 240.217 226,459 nurt•rdfiJll ¢tyJrfr¢thE ye4rweY¢'. . Offlc Expenses dA Fundi Tot41 2Q2J Tot iOZ2 T•l•FI Trtv¢l Cwrl T<hA¢4oD E¥p•nthD• 4.498 4,931 3.981 1704 1704 496 1.026 ?91 7h98 9,938 9. Other Outgo5ngJ Fund Funds 23 Total Totsi 2021 Tax 16,gJS 16.93$ InsurrKe 4.186 1200 4J92 w9rchIry¢1 PuNlcaDons & R•#thr* &adonery& Pos Gwernance Coms 22fy) 2J78 1378 102 601 1059 960 250 MilCellanEOUS EXp•r 4.280 3316 31341 29217 16
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 10. Net £%dItre Thi5 lsststedthr¢lMral 2022 9611 250 I l. TanKlbh FIX Aswts At I SeMber2D2I DISpos1 Trdrdrs At31 Auwrt2023 1.730mO Accwnulated DeprectI}n Ai I Sewemhr 2022 crye ForY•ar At 31 A1102> Net BookValu• At 31 Awit1013 123omo Ai31 A4utt2022 No depreciidon is provlded on trNilL4n85 uthe UuxeM<derthÈ(urrtnlrS1OAl ofthE blr¥S1on the Durin¢ 2022.23. thè mvt4T41 Asl•ordAYqrw• wa5 r•rluth•dasan Inv•50nWrtFryWty. Nstorfcc•#d¥•wu£350,QD). ThE FYoperriESmlirffalnedbythe Or¢thAIe". S6 RedsfoTr NO 7HE 23 BroorTrSeld tsnE. Londorn N134HB 49 Lan•. NIO IQB J12 Philip e. London. N15 4AB S W1tr knad. LoTr>)n. N17 6RI 41 Ashford Avenue. M•is¢ M* These woptrlesare Undertr IW rthinerthlpdthe Tvwtee56¥MethothstCW FIwp>s
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 IL Invutment Property 41 A4rford Av• Londoh CottlvalLAtion At I Sopronkn 1021 Addmons Dlsposals Trnrf•r# 3SOMOO 8SOM At 31 ALVSt 1023 1200 Ae¢umLd&t•d D•w•¢4¢ At15qptoff¢r2022 Chlrye For Y¢ar Clsp)Mli Af 31 Autsm202) N•t VIJ At31 Au8Urt2023 At 31 A¥wst2022 Thè woperw wstAlued tythe pre•¢ry. 1• £1.2fy),CQ)¥rf £l,XQibX. Th¢ wit•¢7 Yaluaon pollryls tote cor4errd15Y¢ and th¢ lowy ranA•olthe In the acco¢Jnt& 13. Debtors Oebtovs OrculrA51e5wMnts R¢(ele 1104 PY•pAym•rt* Pr¢paynMnrS•p[•rrknwSdpth IJA60 19.423 IS.5 19.423 18
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 14. Cash At Bk & On Hand Uoyth CurrnntAccouM nder OJrr¢nt+cw¥ 18J12 IS. Crethors- Amounts FalllDg Due Wrthin OM Year 202J Churth AMeMments Pald ID Attfirt• Jlldlry Convarrtys P4Nble arcuiiMenth•r Churth Man& General Expu5 Pay• enrals Received In A&unce 74.4Q4 90.378 21,462 14MBI 3,793 91.286 16. Loani R•cqlvable After Mty¢ Than One Yév Sf Mirk' Trfnly4t4ow•% WllloWby Chur¢h 15 JI loni Interex free wlth a termols year5 and arr by 31MAuyrt202& The arcuitTruth¢i l•ndWillo4htyChurch £l&fK) fvxury•Dtrwlr•p4lr¥ Al rALwrft202J. th• thurch Iw borrowqd É6.C*>)wlth tho Intenkn olbcrnwlr4th• IMknc• 1023.24. 19
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 17. Detalled AnItyS of Individual Fund Mtyvjnts 17a Forth• yr ended JI AuKurt 2023 Atjl Aurtult (l) Unrwtricted Gerr FTrd Ruerrts Funo 74 375550 (374WI 118J>JD) Llls 15fftJl Unr•rtrktsd FwthTotsl Il8574 1225550 IMMI) 15fft)1 )1316 (11) D•S58¢•d Fundi rcuitMadEI Truit lorn 30356 (37XO)I )omo IJ87 376 IOA37 8.761 10.468 Fd 376 R¥rno¥71i Fur TrnIng Fur Youth Worf¢ Fwd 8,761 35.468 UnY•itrkt•d FthdsTotsl 94J•S 491 61.42S (111) Regtrkted Fwids l)an4dorrffar Extyrml W•Can 353 15) (Iv) Total Funds I3.159 14M4S91 3J)76591 Fund Mo¥•nwrts MMary Fun Fund Totsl Totsi 2023 102J Fthid 118W4 285 Im15? •)1•41 ?4>$ FdTnI[Qr& {5K4h)) 614 J5J 507&514 Notei v•¥avdlTr4tranb The MansÈ R•palrn & knnowalt r•cthYd £3oftsJfromth• Fwd tofiA nnrIr¢ the C0fthe reD(onWOr at41 A4tsd Theyouth Fundvar&f¢rrnO C25.Ww the Rwrves FuThd trj hdpfirAnc• ¢ho £M(OJ tsr¥•thI MansWrn&
NEW RIVER METHODIST CIRCUIT LONDON Notes to the Financial Statements For the year ended 31 August 2023 17. Detalled An1$ of lndhTldU Fund movem (contlnued) 17bFortheyeareDded J l AU¥t 2022 Atl AtJl {1) Unrestrkt•d Fund¥ GeThe Fund Reserw Fund 63 363J7 {J.wo) 105M 71 Il85JOO Unr•#vktqd FwKknT•tl 2WM6J 363A)74 101.9 2.IJ5A74 (M) Dwl8nated Funds ClrcultMod•l Tru5c 10799 Manse ReFr$I RneWsFLd 1¢ Bursary F0 Fund TTriniry Fwd Youth Fur RI 99.125 33th10 376 IOM36 11761) 16&1561 8&156 30J56 8.188 376 10136 761 J5.468 )6MS• 121.9ty) 159Ql 1121,9001 Uny•ttb4ct FwthTot41 310A66 )48 1114J29) {ioi.•ty)I 94285 (115) Re¥trkted Funds DorAol0T£¥trl ChthO•s.All We C Iiji i)11 (Iv) Totsl Funth 2)? 3655$$ {47&1251 I2.15 T4X41 1021 Fund Bal•rKe5 BfwhrF0&rd N•t hcorn¢llFwnthDnl FA Trrtd•rt 2J90.?19 1396M&S 11103701 Gener41 ReyerY¢i Fd 121.9(WJ 1121.9 Crri•d ForaYd I7,15• Th• loll finlI A<couro r•rthd £121.%JdGeTrwzl prtalowityd on F1¢yChIl A¢[5 IY)FAI andthe BJL4Ke Tl4saTrt)wrtFASfthv bterl reclas*fitdwthe Gemtfal ResETheS Fund AsMordAver¥Je. 2]
NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2023
17. Detalled Analys5$ of l•dlvldual Fund MoYemeo)ts (contlnued)
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