2022-08-31-accounts - Wesley's Chapel And Leysian Mission

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Contents
			Page
Trustees'	Report		2-15
Auditors'	Report		16-17
Statement	of Financial Activities		18
Balance Sheet			19
Statement	ofCash Flows		20
Notes to the Accounts			21-39
Statement	of Income and Expenditure	IGeneral)	40

Reference and administrative	Reference and administrative	details
District Chair		The Revd Dr Jongikaya Zihle
Ministers		The Revd Canon Dr Jennifer	Smith (Superintendent)
		The Revd Steven Cooper
Associate	ministers	The Revd John Cooke (Supernumerary)
		The Revd Brian Goss (Supernumerary			deceased 13.04.22)
		The Revd Paul Hulme (Supernumerary)
		The Revd Dr John Lampard	(Supernumerary)
		The Revd Stephen Penrose	(Supernumerary)
		The Revd lan Yates (Supernumerary)
Lay workers		Thomas Smith (Leysian Missioner) —from January 2022 Sally Rush (Community Worker Emerging Adults) - to Sept 2021
		Erick Hunter (Global Mission	Fellow) -		from 8Feb 2022
Museum		Christian Dettlaff (Curator)
		Gemma Smith (Learning &Community			Engagement	Officer)
		Deanna Lyncock (Exhibition	& Oral History Project)			—to May 2022
OFice &administration		Tracey Smith (Manager)
		Ling Arzeian (Finance Officer)
		Beatrice Omane (Administration		Assistant)
Banking		HSBC Bank
		1-3Bishopsgate
		London EC2N 3AQ
		Lloyds Bank
		34 Moo rg ate
		London EC2R 6PL
Solicitors		Pothecary Witham Weld
		70StGeorge's Square
		London SW1V3RD
investment	management	Epwoith Investment Management		Limited
		9 Bonhill Street
		London EC2A4PE
Auditors		Price Bailey LLP 8'"Floor,
		69 Old Broad Street
		London EC2M 1QS

				u'	""'	Restricted	Permanent Endowment
				General	Designated	Funds	Funds	2022	2021
			Notes	f	6			6	8
Income and endowments
Donations snd legacies				334,675		22,923		357,598	208,887
Investment income				369,121	14,026	2,114	1,792	387,053	281,171
Charitable activities				29,112				29,112	16,636
Other
Total income snd	endowments			732,908	14,026	25,037	1,792	773,763	506,694
Expenditure
Raising funds			5	59,727	14,026	1,092	1,792	76,637	31,531
Charitable activities			6	563,826		57,364		621,190	625,113
Total expenditure			7	623,553	14,026	58,456	1,792	697,827	656,644
Net Income/(expenditure)		before
gains snd losses	on investments			109,355		(33,419)		75,936	(149,950)
Net (losses)/gains	on investments		20	(62,434)	(413,967)	(32,391)	(54,732)	(563,524)	1,128,050
Net income/(expenditure)		for the year		46,921	(413,967)	(65,810)	(54,732)	(487,588)	978,100
Transfers between	funds		20	107,783	(108,641)	4,500	(3,642)
Net (loss) on revaluation		ofinvestment		(140,000)				(140,000)
properties
Net movemsnt in funds				14,704	(522,608)	(61,310)	(58,374)	(627,588)	978,100
Total funds brought	forward			5,298,018	4,921,263	526,775	628,494	11,374,550	10,396,450
Fund balances carried		forward	20	5,312,722	4,398,655	465,465	570,120	10,746,962	11,374,550

AT 31AU	GUST 2022
			2022	2021
		Notes	6	6
Fixed Assets
Tangible assets Investment properties Investments		12 13 14	1,424,207 3,020,701 5,769,007	1,432,859 3,160,701 6,336,175
			10,213,915	10,929,735
Current Assets
Debtors		16	147,905	41,398
Cash at bank and in hand			416,641	444,125
Stock		17	9,456	13,104
			574,002	498,627
Creditors:
Amounts falling due within one year		18	40,955	53,812
Net Current	Assets		533,047	444,815
Total Net Assets			10,746,962	11,374,550
Funds
Unrestricted	-General	19	5,312,722	5,298,018
	-Designated		4,398,655	4,921,263
			9,711,377	10,219,281
Restricted		20	465,465	526,775
Permanent	endowment	20	570,120	628,494
Total Charity Funds			10,746,962	11,374,550

STATEMENT OF CASH F AT 31AUGUST 2022	LOWS
								2022f	2021 E
Cash Flows from Operating	Activities
Net cash (used by) Operating	Activities							(371,847)	(376,634)
Cash Flows from Investing	Activities
Dividends, interest and rent from investments								346,803	255,149
Purchase of property, plant and equipment								(6,083)
Proceeds from sale ofinvestments								3,643	475,590
Purchase ofinvestments									(229,630)
Net cash provided by investing Activities								344,363	501,109
Change in cash and cash equivalents		in	the reporting		period			(27,484)	124,475
Cash and cash equivalents at beginning			ofperiod					444,125	319,650
Cash and cash equivalents	at end	ofperiod						416,641	444,125
Reconciliation of net expenditure		to net		cash flow from		Operating	Activities
								2022	2021
								E	E
Net (expenditure)/income for the reporting Statement offinancial activities)				period (as	per the			(487,588)	978,100
Adjustments for:
Depreciation and amortisation	charges							14,736	25,669
Losses/(gains) on investments								563,524	(1,128,050)
Dividends, interest and rents	from investments							(346,803)	(255,149)
Decrease in stock								3,648	641
(Increase)/decrease in debtors								(106,507)	2,862
(Decrease) in creditors								(12,857)	(707)
Net cash used in operating	activities							(371,847)	(376,634)
Anal sisofchan esinnetdebt
						At start of	Cash	Other	At year
						yearf	flows E	noncash changes	end E
								E
At 31 August 2022
Cash at bank and in hand						444,125	(27,484)		416,641
At 31 Au ust 2021
Cash at bank and in hand						319,650	124,475		444,125

Donation	s	&legacies
											Permanent
			Unrestricted		Funds					Restricted	Endowment
Current	year		General f	Designated					f	Funds f	Funds f	2022f
M~ii t		4M'
OfFerings	and donations		100,056							9,798		109,854
Grants			20,959							13,125		34,084
Legacies			111,647									111,647
Heritacee
Donations			4,791									4,791
Grants			97,222									97,222
			334,675							22,923		357,598
											Permanent
			IlntgghigIaLEttgtIE							Restricted	Endowment
Prior year			General f	Designated				f		Funds	Funds	2021f
~Md		Mi
Offerings	and donations		98,517							20,882		119,399
Grants			14,058									14,058
Legacies			11,000									11,000
Herifa&ee
Donations			655									655
Grants			63,775									63,775
			188,005							20,882		208,887
Investment		income
											Permanent
										Restricted	Endowment
Current	year		General f	Designated			f			Funds f	Funds f	2022f
	4M'
Rents			168,084									168,084
Bank interest			339							33		372
Dividends			200,698		14,026					1,334	1,792	217,850
~Herita e
Dividends										747		747
			369,121		14,026					2,114	1,792	387,053
											Permanent
			IJtttgatrri;Igtt~gy.							Restricted	Endowment
Prior year			General f	Designated		f				Funds f	Funds f	2021 f
inist and		Mission
Rents			122,340									122,340
Bank interest			89							33		122
Dividends			147,716		8,176					517	1,041	157,450
~Herita e
Dividends										1,259		1,259
			270,145		8,176					1,809	1,041	281,171

								Permanent
				res '	ted	Funds	Restricted	Endowment
Current		year		General f	Designated 6		Funds 6	Funds 6	2022 6
inis	and		Mi si n
Insurance		recovered		16,612					16,612
~Herita e
Museum		and	book sales	12500
				29,112					29,112
								Permanent
				QBKRgtLii;Igttggg{tg			Restricted	Endowment
Prior year				General 6	Designated F		Funds	Funds 6	2021 6
~Ni t		dMI
Insurance		recovered		15,106					15,106
~Herita e
Museum	and		book sales
				16,636					16,636
Expenditure			on raising funds
								Permanent
				Unrestricted		Funds	Restricted	Endowment
Current		year		General	Designated 6		Funds f	Funds	2022 6
Donations		and legacies		490					490
Other trading			activities	35,897					35,897
Investment		costs		23,340		14,026	1,092	1,792	40,250
				59,727		14,026	1,092	1,792	76,637
								Permanent
				Unrestricted		Funds	Restricted	Endowment
Prior year				General	Designated		Funds	Funds	2021
				6		8	6		6
Donations		and legacies		190					190
Other trading			activities	5,319					5,319
Investment		costs		16,129		8,176	676	1,041	26,022
				21,638		8,176	676	1,041	31,531

								Permanent
				Unrestricted		Funds	Restricted	Endowment
Current year				General	Designated 6		Funds 6	Funds	2022 6
Ministry and Mission				430,134			57,364		487,498
Heritage				133692					~133692
				563,826			57,364		621,190
								Permanent
				Unrestricted		Funds	Restricted	Endowment
Prior year				General	Designated 6		Funds f	Funds	2021f
Ministry and Mission				495,689			18,606		514,295
Heritage				110703			115		110818
				606,392			18,721		625,113
Analysis	ofexpenditure
							Direct	Support
Current year							Costs 8	Costsf	2022f
Ministry and Mission							172,153	279,448	451,601
Raising funds Heritage							76,637 128790	40 799	76,637 169'589
							377,580	320,247	697,827
Prior year							Direct	Support
							Costs	Costs	2021
Ministry and Mission							211,079	297,897	508,976
Raising funds Heritage							31,531 77662	~8475	31,531 116137
							320,272	336,372	656,644
Analysis ofsupport			costs
			Staff	Consulting		District		Office, IT
Current year		Related 8		Fees 5		Levy 8	Governance	SOther f	2022
Ministry 8 Mission		107,269		6,979		46,356	57,127	61,717	279,448
Heritage			18,776	1,221			9,999	10,803	40,799
		126,045		8,200		46,356	67,126	72,520	320,247
			Staff	Consulting		District		Office, IT
Prior year		Related 8		Feesf		Levy f	Governance 6	8 Other	2021 6
Ministry 5 Mission		139,480		3,174			51,944	56,943	297,897
Heritage			21,334	486			7,945	8,710	38,475
		160,814		3,660		46,356	59,889	65,653	336,372

	Grant making activities in total are not material activities.	Grant making activities in total are not material activities.	Grant making activities in total are not material activities.	in the conte	xt of the Charity's	overall charita
10.	Net movement in funds for the year
					2022	2021
						E
	The net	movement in	funds for the year is stated after
	charging:
	Auditors'	remuneration	-audit work		9,840	7,325
	Depreciation				14,736	25,669
11.	(a) Staff	costs and emoluments
					2022	2021
					K
	Salaries				212,591	226,108
	Minister	stipends			73,858	72,353
	Social security costs				16,716	20,404
	Pension	costs			12,316	13,593
	Training	& recruitment	costs		1,517	368
					316,998	332,826
					2022	2021
					Number	Number
	The average weekly number ofstaff employed			by the
	Charity during the year was asfollows:
	Ministerial and administrative				11	12
	Establishment				2	2

Tangible assets
	Furniture	Freehold	Total
	&Fittings	Property
	6	6
Cost
At 1 September 2021	394,865	1,425,000	1,819,865
Additions	6,084		6,084
At 31 August 2022	400,949	1,425,000	1,825,949
e reciation
At 1 September 2021	375,406	11,600	387,006
Charge for the year	8,936	5,800	14,736
At 31August 2022	384,342	17,400	401,742
Net book value
At 31 August 2022	16,607	1,407,600	1,424,207
At 31 August 2021	19,459	1,413,400	1,432,859

a) PER	MANENT	END	OW	ME	NT
									Market Value
Trust name						Units	Fund		2022	2021
									6	6
Mrs M A Grayson		Bequest (11211)				12,921	CFB UK Equity	Fund	263,058	295,943
						55,529	CFB Property Investment		46,200	40,703
						25,324	CFBCorporate	Bond	30,997	37,302
SirJ Lowry's Memorial							CFBManaged	Mixed Fund		3,726
Other bequests (564)						7,779	CFB UK Equity	Fund	158,373	178,170
						15,280	CFBCorporate	Bond	18,703	22,507
						33,489	CFB Property Investment		27,863	24,547
Gabriel, (Youth	Grosvenor Council)	8 Cooper			Trust	1,901	CFBManaged Mixed Fund		9,982	10,652
									555,176	613,550
b) RESTRICTED FUNDS
Wesley (Gibbs	Chapel Fund)	Crypt		&	Museum	4,531	CFB UK Equity	Fund	92,247	103,779
						8,379	CFB Corporate	Bond	10,256	12,342
						20,157	CFB Property Investment		16,771	14,775
Robert	Davies Bequest					1,393	CFB Managed	Mixed Fund	7,315	7,805
Local Youth Club						7,340	CFB Managed	Mixed Fund	38,542	41,126
Resthaven Trust						6,789	CFB UK Equity	Fund	138,217	155,495
						13,275	CFBCorporate	Bond	16,249	19,554
						29,179	CFBProperty Investment
									343,874	376,265
c) DESIGNATED FUNDS
Sale Proceeds - Property				Endowment		35,350	CFB UK Equity	Fund	719,691	809,656
						69,287	CFBCorporate	Bond	84,807	102,060
						155,559	CFB Property investment		129,425	114,024
Leysian	Mission Fund (15005A)					107,998	CFB UK Equity	Fund	2,198,731	2,473,586
						212,367	CFBCorporate	Bond	259,937	312,817
						485,290	CFBProperty investment		403,762	355,718
Museum	of Methodism		Fund			16,313	CFB UK Equity	Fund	332,116	373,633
						31,945	CFBCorporate	Bond	39,102	47,055
						70,816	CFBProperty Investment		58,919	51,908
									4,226,490	4,640,457

												Market Value
Trust	name						Units	Fund			2022	2021
											f	f
d) GENERAL FUNDS
Various	Bequests (13777)				83,090			CFB Property		Investment	69,130	60,905
					18,483			CFBUK Equity Fund			376,295	423,335
					43,515			CFBCorporate		Bond	53,262	64,098
						8,991		CFBManaged		Mixed Fund	47,212
Jean Rosina White (20027)								CFB Managed		Mixed Fund		50,379
Local Mission Fund (22316)						3,698		CFB UK Equity Fund			75,288	84,697
						7,248		CFBCorporate		Bond	8,870	10,676
					16,118			CFBProperty		investment	13,410	11,813
											643,467	705,903
Total investments											5,769,007	8,336,175
15.	Analysis	ofmovement			in fixed asset investments
											2022 f	2021 f
	Carrying	value		(market	value) at beginning				ofyear		6,336,175	5,454,085
	Total additions			to investment			at cost					229,630
	Total disposal Net (loss)/gain			proceeds on revaluation						(3,644) ~553524		(475,590) 1 125055
	Carrying	value		(market value)			at end	ofyear			5,769,007	6,336,175
18.	Debtors
											2022	2021
	Prepayrnents		and sundry		debtors						147,905	36,398
	Legacy gifts receivable											5,000
											147,905	41,398
17.	Stock
											2022f	2021f
	This has	been		valued at	the	lower of		cost and
	net realisable		value
	Museum	shop		stock							9,456
18.	Creditors
											2022 f.	2021f
	Amounts	falling		due within one year:
	Trade creditors										9,606	4,236
	Accruals	& income in advance									28,925	48,123
	Other creditors										2,424	1,453
											40,955	53,812

Unrestricted General	Fund
				2022	2021
				5	K
(a)Capital account
Balance at 1 September 2021				5,247,639	5,284,228
Add/(Deduct):
Ministry & Mission surplus/(deficit)				163,684	(104,326)
Heritage surplus/(deficit)				(54,329)	(48,918)
(Loss)/gain on revaluation		ofinvestments		(58,262)	112,875
Loss on revaluation	of investment		properties	(140,000)
Funds reclassification				153990	3750
Balance at 31 August 2022				5,312,722	5,247,639
Capital account				5,312,722	5,247,639
Jean White fund					50379
				5,312,722	5,298,018

Analysis ofnet asse	ts
	Endowment	Restricted	Designated	General	2022
Current year	Funds	Fundsf	Funds	Funds	Total
Tangible fixed assets				1,424,207	1,424,207
Investment properties				3,020,701	3,020,701
Investments	555,176	343,874	4,226,490	643,467	5,769,007
Current assets	14,944	121,591	172,165	265,302	574,002
Current liabilities				(40,955)	(40,955)
Total net assets	570,120	465,465	4,398,655	5,312,722	10,748,962
	Endowment	Restricted	Designated	General	2021
Prior year	Funds	Funds	Funds	Funds	Total
	8			8	8
Tangible fixed assets				1,432,859	1,432,859
Investment properties				3,160,701	3,160,701
Investments	613,550	376,265	4,640,457	705,903	6,336,175
Current assets	14,944	150,510	280,808	52,367	498,627
Current liabilities				(53,812)	(53,812)
Total net assets	628,494	526,775	4,921,263	5,298,018	11,374,550

					2022	2021
					6	E
Income
Dividends &Distributions					200,698	147,716
Donations &Giving					100,056	99,117
Grant Income					118,181	77,833
Insurance Recovered					16,612	15,106
Interest Income					339	89
Museum Net Income					10,827	802
Rent Received					154,687	121,104
Room Hire Income					13,397	1,236
Total Income					614,797	463,003
Operating Costs
Advertising &Marketing					354	39
Assets &55,000					800	549
Audit &Accountancy	Fees				11,439	10,153
Bank Fees					1,950	1,289
Benevolence 8 Community			Work		7,905	4,094
Church Supplies &Activities					3,702	3,449
Consulting Fees					8,200	3,660
District 8 Apprenticeship		Levies			47,690	47,821
Hospitality &Catering					3,933	1,138
Insurance					55,687	49,736
Investment & Property		Management		Fees	23,340	16,129
IT&Software Costs					10,163	9,570
Leadership on a Journey					29,433
Learning &Development					3,860	1,454
Museum Supplies					152	4,450
Printing, Postage &Stationery					13,213	12,616
Rates &Council Tax					10,573	11,816
Recital Costs					490	190
Repairs, Maintenance	&Cleaning				38,668	46,163
Security &Fire					13,373	9,928
Staff Recruitment					1,517	368
Subscriptions &Licences					5,043	5,267
Travel &Accommodation					1,314	(124)
Utilities					27,198	29,365
Wages, Stipends &Staff Recruitment					282,356	332,458
Total Operating Costs					602,353	601,578
Operating Surplus/(Deficit)					12,444	(136,575)
Non-operating Income
Legacies Received					111,647	11,000
Sundry Income
Total Non-operating	Income				111,647	11,000
Non-operating Expenses
Depreciation &Amortisation			Expense		(14,736)	(25,669)
Total Non-operating	Expenses				(14,736)	(25,669)
Net Surplus/(Deficit)					109;355	(153,244)