Charlty reglstration number 1137919 CHESTER LE STREET METHODIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
CHESTER LE STREET METHODIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs Karen Heptinstall Mrs Marion Smith Mrs Brenda Wood Mr Thomas Indian Mrs Margaret Walton Mrs Kathryn Johnson Mr Stephen Wroe Mrs Dorothy Hedley Mr Brian Straughan Mr Robert Dobson Mr Frederick Johnson Mr Robert Berry Mrs Freda Raine Mr Derick Lawson Mrs Dorothy Carr Mrs Joan Moore Mr N Garlick Mr T Smith Charlty number 1137919 Indepondent axamlner Steven Chambers Gunnell & Chambers Accountants 8 Fellside Road Whickham Newcastle Upon Tyne NE16 4AL
CHESTER LE STREET METHODIST CHURCH CONTENTS Page Trustees, report Independent examiner's report ststement of financial activities Balance sheet Notes to the financial statements 8-14
CHESTER LE STREET METHODIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 At the beginning of September 2023 we welcomed Rev. Jenny Porterpryde as our new Minister. Working with the Lay leadership of Chester-le-street Methodist Church, opportunities for growth and development in the ongoing life of the church are being faced. The financial statements have been prepared in accordance with the accounting policies set out in note note,note01 to the financial statements and comply with the Charity's governing document. the Charities Act 2011 and "Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January 2019). Objectives and actlvlties Church Mission statement- A permanent commitment by the whole Church to reach out and become more involved in the life of the community of Chester-Le-Street and for the community to be supported by the wider Church family. The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of.. al The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church. b) Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of The Methodist Church: c}Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church., d)Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church Worshipping God through prayer, song and other acts of worship. The organisation and resourcing of regular public acts of worship open to members of the church and non members alike. The teaching of Christianity through semons, courses and small groups. The resourcing of pastoral work including visiting the sick and bereaved. Taking religious assemblies in local schools. Promotion of Christianity through the staging of events and services. Provision of chaplaincy services to local schools, care homes and other institutions as appropriate and when able. Public benefit The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activitl8S the Charity should undertake. Achievements and performance Significant activities and achievements against objectives Flnanclal revlew
CHESTER LE STREET METHODIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Coffee mornings continue to be welcomed on a three times a week basis. They provide a good opportunity for fostering friendship and fellowship. Coinciding with the Tuesday Coffee Moming, a group calling themselves the 'Knit and Natter, group meet for a drink while busying themselves with their knitting skills and having a chat. of course. The 'Thursday Lunches. have continued to operate providing a 3 course meal plus a hot drink at a very resaonable price. Another opportunity for friendship and fellowship. Thursday Lunches are held on the first and third Thursday of each month. Wellbeing continues to be a focus of the Church and Cornerstones. On most Salurdays, sessions are held which provide people with the opportunity to either be creative or to enjoy periods for meditation. Partnering with TLG, we have continued to support families struggling to feed their children during school holidays through 'Make Lunch., These lunches are now held on site. We are no longer doing deliveries. The enjoyment of the children was further developed through a Family Fun Day. November saw another Memorial Service. It was a poignant time of helping not only church members but also the wider community find space to grieve. Before Remembrance Day, many poppies were knitted. These were attached to our large wooden cross which was lifted out to stand on the steps at the front of the church. This was both admired and appreciated by many people. but particularly by the large group of people who attended the Remembrance Day Seryice which was held in the market place. We held another Christmas Fayre which was well supported and a Book Sale in March. Christmas services which were held included a Christingle service with the emphasis on young children and a service on the morning of Christmas Day. There was also a Carol SeNice which again included the ever popular Community Choir where the emphasis was on enjoyment as well as providing support for the singing of the Carols. A recent innovation was the making of a Christmas Tree from green knttted squares which were arranged on a metal frame. A development this time was the addition of knitted tree decorations. Standing at the top of the ramp the tree was a very welcoming sight for visitors to our church. The Boys, Brigade and Brownies continue to thrive and the Toddler groups are operating at full capacity. The Women's Fellowship has continued to thrive with ever increasing members. Wth fewer volunteers due to age and health issues, we are heavily reliant on faithfully Committed church members who give unsparingly of their time and energy. As another year closes, we are reminded of the faithful members who have died - of their faith, their energy and their friendship. Income trends Church income is primarily drawn from the Sunday collections and Gift Aid tax credit paid by the congregation and lettings income paid by external users of the building. The lettings income particularly relates to the hire of the church halls to various groups in the community. Expendlture trends The major cost is in relation to the assessm&nl paid to the Chester-.le-Street Circuit This amounts to 60.950/¢ of our total cost. The Circuit assessment increased by £5863 compared to the previous year. A significant amount of the Circuit assessment is used to pay the District ossessment. stipends and related osts to Ministers. The other expenditure includes donations to Connexional Funds, property expenditure (caretaking and cleaning costs, utilities costs, insurance and accountancy fees) and other employees, expenses.
CHESTER LE STREET METHODIST CHURCH TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Reserves policy The Reserves Policy for the Church is to hold a minimum sum equivalent to 6 months, average expendture. This equates to £70,350. This should be sufficient to meet any unforeseen item of major expenditure on the church building andlor to be able lo continue, in the short tenn, funding planned activities in the event of any inability to raise Ihe full expenses including the assessment payable to the Circuit. Rlsk Management The major risks have been identified and recorded by the Trustees with professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and Expendilure is being monitored in total and 15 compared with the approved annual btjdget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen call on reserves. The pandemic caused some funding concerns and a closer watch on finances has been set up. Safeguardlng Every person has a value and dignity which comes directly from the creation of male and female in God's own image and likeness. Christians see this potential as fulfilled by God's re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from ham. Methodist Connexional practice outlines commitment to the following principles.. the care and nurture of, and respectful pastoral ministry with, all children, young people and adults the safeguarding and protection of all children, young people and adults when they are vulnerable the establishing of safe, caring communities which provide a loving environment where there is infDrmed vigilance as to the dangers of abuse We will carefully select and train all those with any responsibility within the Church, in line with Safer recruitment principles, including use of criminal records, disclosures and reglstration with the relevant vetting and barring schemes We will respond without delay to every complaint made whlch suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation We will seek to work wlth anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care We will seek to challenge and abuse of power, especially by anyone in a position of trust. We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult In all these principles we will follow legislation, guidance and recognised good practice. The Chester-Le-Street Ichurch commits itself lo ensuring the implementation of Connexional Safeguarding Pollcy.. government legislation, guidance and safe practice in the circuit and in the churches. The Chester-Le-Street Church commits itself to the provision of support, advice and training for lay and ordained people Ihat will ensure people are clear and confident about their roles and responsibilitl8s in safeguarding and promoting th8 welfare of children and adults who may be vulnerable. GDPR The Chester-le-street Church regularly undertakes a review of procedures to ensure that the full implications of GDPR legislation has been incorporated in our day to day operation. structure, governance and management The goveming document for the church is the Deed of Union (1932) and Methodist Church Act (19761 Detailed governance arrangemenls are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD)
CHESTER LE STREET METHODIST CHURCH TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees who served during the year and up to the date of signature of the financial statements were- Mrs Karen Heptinstall Mrs Marion Smith Deacon Linda Watkin Mrs Brenda Wood Mrs Doreen Hume Mr Thomas Indian Mrs Jean Auld Mrs Margaret Walton Mrs Kathryn Johnson Mr Stephen Wroe Mrs Dorothy Hedley Mr Brian Straughan Mr Robert Dobson Miss Clalre Mordue Mr Trevor Blacklock Rev lan Kent Mr Frederick Johnson Mr Robert Berry Mrs Freda Raine Mr Derick Lawson Mrs Dorothy Carr Mrs Joan Moore Mr N Garlick Mr T Smith (Resigned 31 August 2024) (Resigned 31 August 2024) (Resigned 31 August 2024) {Resigned 31 August 2024) (Resigned 31 August 2024) (Resigned 31 Au9USt 2024) R6cruitment and appointment of tmstees Trustees are appointed at the AGM Organisation81 structure Day to day management of the church is undertaken by the Church Leadership team along with the minister. Induction and trdining of trustees Trustee Tralnlng A range of guidance produced by the Methodist Connexion to support the effective running of the church and the role of Trustees is given to the Church Trustees at various meetings andlor training sessions. Related partlos The church is part of the Chester-Le-Street Methodist Circuit which is part of the Newcastle District and is also accountable to the Methodist Conference. The internal organisations linked to the church are: Women's Fellowship, Boys, Brigade, Prayer Sha1 Ministry, Jigsaw and ParentSodd1er8. The Trustees, report was approved by the Board of Trustees. Mr T Smith Trustees 8 January 2025
CHESTER LE STREET METHODIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHESTER LE STREET METHODIST CHURCH I report to the Trustees on my examination of the financial statements of Chester Le Street Methodst Church (the ) for the year ended 31 August 2024. Responslbllltles and basls of report As the Trustees of the you are responsible for the preparation of the financial ststements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the 's financial statements carried out under section 145 of the 2011 Act. In carrying out rny examination I have followed all the applicable Directions given by the Charity Commission under section 145(5){b) of the 2011 Act. Independent examlnerfs statement Your attention is drawn to the fact that the charity has prepared financial statements in aCcOrdae with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to Ihe Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for fin8ncial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confimi that. no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the as requlred by section 130 of the 2011 Act., or the financial statements do not accord wth those records., or the financial statements do not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I hav8 no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. steven Chamber8 Gunnell & Chambers Accountants 8 Fellside Road hickham Newcastle Upon Tyne NE16 4AL Dated.. 8 January 2025
CHESTER LE STREET METHODIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestrlcted Restrlct8d funds funds 2024 2024 Total Unrestrlcted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments 116,226 59,670 2,394 116,226 94,822 2,394 88,669 73,159 2,288 88,669 104,438 2,288 35,152 31,279 Total Income 178,290 35,152 213,442 164,116 31,279 195,395 Expendlture on: Charitable activities 195,324 28,027 223,351 197,200 40,368 237,568 Total expendlture 195,324 28,027 223,351 197,200 40,368 237,568 Net Incomel(expendlture> and movement In funds (17,034) 7,125 {9,909) (33,084) 19,089) (42,1731 Reconclllatlon of funds: Fund balances at 1 September 2023 213,194 33,379 246,573 246,278 42,468 288,746 Fund balances at 31 August 2024 196,160 40,504 236,664 213,194 33,379 246,573 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
CHESTER LE STREET METHODIST CHURCH BALANCE SHEET ASAT31 AUGUST2024 2024 2023 Notes Flxed assets Investments 11 67,193 76,947 Current assets Debtors Cash at bank and in hand 12 5,140 166,528 5,412 171,547 171,668 176,959 Credltors: amounts falllng due wlthln one year 13 (2,197> {7,333} Net current assets 169,471 169,626 Total a88ets less current Ilabllltl88 236,664 246,573 Net a88ets oxcludlng penslon Ilablllty 236,664 246,573 The funds of the Restricted income funds Unr8Stricted funds 14 40,504 196,160 33,379 213,194 236,664 246,573 The financial statements were approved by the Trustees on 8 January 2025 Mr T Smith Trusteas
CHESTER LE STREET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng policies Charlty Information Chester Le Street Methodist Church is a public benefit entity. 1.1 Accounting eonventlon The financial statements have been prepared in accordance with the 's Igoveming documentl, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. {'FRS 102") and the Chaflties SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January 20191. The is a Public Benefit Entity as defined by FRS 102. The has taken advanlage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charitles (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which Is referred to In the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the . Monetary amounts In these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instrL¥nents at fair value]. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the Truslees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the . 1.4 Incomo Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are cOgnIsed once the has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipl or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
CHESTER LE STREET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng policies (Contlnued 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each adivity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured al fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term Ilquid Investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnanclal Instruments The has elected to apply the provlsions of Section 11 'B8sic Financial Instruments, and Sectlon 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the 's balance sheet when the becomes paty to the contractual provisions of the instrument. Flnancial assets and liabilities are offset, wilh the nel amounts presented in the financial statements, when there is a lega15y enforceable right to sel 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 flnancial assets Basic financial assets, which include debtors and cash and bank balances, are Inltially meaSud 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 discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaclion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable wllhln one year are not amortised. Debt instruments are subsequently carri&d at amortised cost, using the effective interest rate method. Trade Creditors are obligations to pay for goods or serViS that have been acquired in the ordinary Course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortibed cost using the effective interest method.
CHESTER LE STREET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Accounting pollcles (Contlnuedl Derecognition of financial Ilabllities Financial liabilities are derecognised when the 's contractual obligations expire or are discharged or cancelled. 1.9 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Ternination benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide termination benefits. crftlcal accountlng estlmates and Judgements In the application of the 's accounting policies, the Trustees are requlred to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. 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 ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revlsed 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. Income from donatlons and legacles Unrestrlcted funds 2024 Unre8trlcted funds 2023 Donations and gifts 116,226 88,669 Income from charltable actlvltles Unrestrlcted Rostrlcted fund8 funds 2024 2024 Total Unre8trlcted Restrlcted funds funds 2023 2023 Total 2024 2023 Income Rental income and fundraising Services provided Other income 57,040 670 1,960 35,152 92,192 670 1,960 69,808 1,390 1,963 31,279 101,085 1,390 1,963 59,670 35,152 94,822 73,159 31,279 104,438 10-
CHESTER LE STREET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Income from investments Unrestrtcted UnrestrScted funds funds 2024 2023 Interest receivable 2,394 2,288 Expendlture on charltable actlvltles Headlng
ac982
2024 Headlng
ac982
2023 Dlrect costs Wages Cleaning Heat & lighl Rates 88,296 407 15,714 488 66,256 876 13,817 538 L li Insurance Repairs Stationery Organist fees Posters Accountancy Miscellaneous expenses Clrcult assessment Connexional funds Church overheads 4,969 8,837 1,346 630 539 720 6,626 85,752 1,000 28,027 4,695 7,195 1,178 480 204 720 20,352 79,889 1.000 40,368 223,351 237,568 Analysls by fund Unrestricted funds Restricted funds 195.324 28,027 197,200 40,368 223,351 237,588 Net movement In funds 2024 2023 The net movement in funds is stated after chargingi(creditingi'. Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits frc*n the during the year. 11
CHESTER LE STREET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Employees The average monthly number of employees during the yearwas: 2024 Number 2023 Number Ther8 were no employees whose annual remuneration was more than £60,000. Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 10 Taxatlon The charity is exempt from taxation on its activities because all its Income is applied for charitable purposes. 11 Flxed asset Investments Llst8d Investments Cost or valuatlon At 1 September 2023 & 31 August 2024 76.947 Carrylng amount At 31 August 2024 76,947 At 31 August 2023 76,947 12 Debtors 2024 2023 Amounts falllng due wlthln one year: Other debtors 5,140 5,412 13 Credltors: amounts falllng due wlthln one year 2024 2023 Trade cr&ditors 2,197 7,333 12-
CHESTER LE STREET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 14 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grant5 held on trust subject lo specific conditions by donors as to how they may be used. At1 September 2023 Incomlng resources Resourc88 At 31 August expended 2024 33,379 35,152 (28.0271 40,504 Prevlous year: At1 September 2022 Incomlng resources Resources At 31 August expended 2023 42,468 31,279 (40,368) 33,379 16 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At1 September 2023 Incomlng resources Resources At 31 August expended 2024 General funds 213,194 178,290 (195,324) 196,160 Provlous year: Incomlng resource8 Resources At 31 August expended 2023 September 2022 General funds 246,278 164,116 (197,200) 213,194 16 Analysls of net assets between funds Unrestrlcted funds 2024 Restrictsd funds 2024 Total 2024 At 31 August 2024: Investments Current assetsl{liabilities) 67,193 128,967 67,193 169,471 40,504 196,160 40,504 236,664 13-
CHESTER LE STREET METHODIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 16 Analysis of net assets between funds {Contlnued) Unrestrlcted funds 2023 Restrlcted funds 2023 Total 2023 At 31 August 2023: Investments Current assetsl(liabilities} 76,947 136,247 76.947 169,626 33,379 213,194 33,379 246,573 17 Related party transactlons There were no disclosable related party transactions during the year (2023 - none). 14-