2021-08-31-accounts

THE NEW ROOM / JOHN WESLEY’S CHAPEL

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2021

The New Room/John Wesley's Chapel Year ended 31st August 2021 Charity Reference and Administrative Details

Charity Registration No 1137957

Trustees Mr John Savage Mr Niall Phillips Rev David Alderman Rev Jonathan Pye Ms Jane Allin Mr Michael Rose Mr Gary Best Mrs Aroona Smith Rev Josette Crane Rev David Weeks Mr Geoffrey Gollop Rev Steve Wild Mrs Linda Jones Rev Jonathan Hustler Rev A Ward Jones Mrs Rachel Newton Mr John Hirst Director Mr David Worthington Registered office 36 The Horsefair Bristol BS1 3JE Independent Examiner Haines Watts Partnership (Bristol) Limited 6-8 Bath Street Redcliffe Bristol BS1 6HL Bankers Bank of Scotland 33 Old Broad Street London EC2N 1HZ Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE Investment Managers Trustees for Methodist Church Purposes Central Buildings, Oldham Street Manchester M1 1JQ

The New Room/John Wesley's Chapel Year ended 31st August 2021 Trustees' Annual Report

The Trustees present their report and the audited financial statements of the charity for the year ended 31st August 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Objectives and activities

The Trustees are responsible to the Methodist Church for maintaining the New Room and Charles Wesley’s House and promoting them as a community facility, educational resource, heritage attraction, and cultural venue in Bristol. This involves:

• a. setting, developing, and maintaining the vision and mission of the New Room and Charles Wesley’s House as places of pilgrimage, enabling visitors to understand the historical and religious importance of John and Charles Wesley and their continuing influence, especially on worldwide Methodism.

• b. maintaining John Wesley’s Chapel at the New Room as a place of worship and prayer and spiritual refreshment and for concerts, recitals, celebrations, and other events for which it is suited;

• c. maintaining the upstairs rooms at the New Room as an accredited Museum, highlighting the role of the Wesleys and their links with Bristol;

• d. maintaining Charles Wesley’s House in a manner indicative of its use by his family, with particular reference to his contribution to hymnody and the musical achievements of his sons;

• e. maintaining an archive and library for public use that particularly focuses on eighteenth century Methodism and, more locally, on the history of Methodism in Bristol and the surrounding area;

• f. engaging with the local community through various educational and other activities and through its cafe;

• g. overseeing the property, finances, staffing, volunteers, organisation and activities and all matters pertaining to the work of the New Room and Charles Wesley’s House. This includes ensuring that the Trust complies with charity law and other legislation.

In order to fulfil these objectives over 150 volunteers contribute and the wide range of activities taking place are a product of engaging not only with many local churches, schools, youth groups, charities, places of higher education, and other organisations but also with Bristol City community initiatives, with other Methodist heritage sites across the country, and with national and international organisations linked to Methodism.

Fund-raising Standards Information

No professional fundraiser or commercial organisation is employed to fund raise. Some of the charity’s income is derived from its activities:

• a. income received from museum visitors;

• b. income from profits made by the cafe and shop and from commercial letting of facilities;

• c. income from activities for which there is a charge.

Other fund-raising is planned by the Executive Committee and authorised by the Trustees as a whole. The fundraising takes various forms;

• a. some individuals are asked to volunteer as ‘ambassadors’ for the work of the New Room both in Britain and abroad (mainly in the USA and Korea). They are asked to identify and encourage potential donors;

• b. some individuals are asked to volunteer as ‘fund-raisers’ working through the Friends of the New Room. This may involve:

• i) making applications for grants to trusts or other organisations;

ii) organising fund-raising events;

iii) encouraging individuals to give regular gift-aided donations;

• c. having donation boxes within the New Room and Charles Wesley’s House;

• d. seeking financial support through information provided in leaflets and on the web site.

It is made clear to all those involved in fund-raising that no undue pressure must be placed on anyone to give money or other property and the Trustees will not permit any fund-raising activity that might be judged to be an unreasonable intrusion on a person’s privacy or unreasonably persistent or unreasonable to anyone who might be judged to be vulnerable.

All the money raised is processed via the Finance Officer and there are strict guidelines regulating the handling of monies. The Finance and Property Committee oversee that these regulations are followed.

There have been no complaints received about the charity’s fund-raising activity or about the activities of any of our volunteer fundraisers.

Public benefit statement

The trustees have had regard to the Charity Commission guidance on public benefit.

Achievements and Performance

The New Room is open to visitors six days a week (Monday to Saturday) all the year round and is the most visited Methodist heritage site in the UK.

The opening of the new visitor centre in the Horsefair Courtyard in June 2017 has seen a significant step-change at the New Room and its operation. The new facilities have enabled the New Room to develop its work as a place of pilgrimage, worship, exploration, community building and spiritual growth through its state-of-the-art museum and library space, meeting room for education and training, café, and shop. Overall visitor numbers since the new facilities opened have seen higher than ever figures recorded; with over 50,000 visitors per annum, double the amount who visited prior to the opening of the new visitor centre.

The challenge moving forward is to ensure that what has been achieved can be expanded and sustained beyond the end of the financial support from Heritage Lottery Fund (HLF) which ended on 31[st] August 2021. During the course of 2019/20, over £200,000 funding was secured through until 2024 from a number of different funding streams from within the Methodist Church based on a plan to deliver a range of events and activities using the existing staff team.

The current staff team is made up of 8 paid roles which are Director (F/T), Education Officer (F/T), Collections Manager/Community Engagement Officer (F/T), Operations Manager (F/T), Café Manager (F/T) and Assistant Café Manager (F/T), Finance Officer (P/T) and Fundraising Officer (P/T). A number of these roles were funded through the HLF project but following the completion of said project, all are now funded either by New Room activities or grants from the Methodist Church at both national and district levels.

The current income streams need to increase to supplement the funding provided by the Methodist Church. Based on current projections, it is anticipated that this will need to be @£80K per annum. During 2021, it was

decided to appoint a Fundraising Officer (P/T) who began the role in July 2021 to seek to address this deficit. In addition, there is an external consultant who is contracted to deliver the Marketing & Communications Officer (P/T) role.

As at 1/9/20, the site was re-open again to visitors six days a week, albeit with reduced hours from 11am to 3pm rather than its usual hours of 10am to 4pm. It was then closed from 1/11/20 in line with the government mandated lockdown until it was permitted to re-open from 17/5/21. However, it again operated with reduced hours for the remainder of the financial year; 31/8/21. As a result of these respective lockdowns, the annual visitor number for the financial year was just under 10,000; one fifth of a typical year of 50,000. This reduced number also impacted on income generation during the last financial year.

Volunteers remain at the heart of the New Room’s activity and there is a particular focus on expanding the numbers to support the increased size of the operation. There are a wide range of volunteering opportunities available including hospitality, retail, and museum collections so it is hoped that this will widen the backgrounds of those who offer their services. The New Room has been successful in recruiting students from both universities in the city as well as offering work experience and internships. However, the pandemic has also seen a number of long-serving volunteers step down from their roles and so active recruitment will continue to boost the numbers again.

The trustees adopted a new governance structure which came into force on 1st September 2018. The number of trustees reduced from 18 to 17 and the revised committee structure, including the monthly meeting of the Executive Committee, has introduced a more streamlined reporting process to the trustee body.

Financial review (including reserves policy)

The Achievements and Performance section above highlights the significant changes that have taken place during the year under report. The main financial aim in that period was to carry out the project within budget and manage the expanded operations without needing to utilise reserves. That aim appears to have been achieved. At the year end, free reserves of £299,161 (2020 - £251,131) were held.

The following section indicates the plans to establish a sustainable operating model for its activities. The trustees recognise that there will be a need to use its reserves in the short-term, but it is hoped that with permissions being granted in order to expand the range and number of activities across the site, that a sustainable operating model can be established. Monthly management accounts are prepared and monitored to ensure budget is maintained and the General Fund reserves level is considered adequate presently.

COVID-19

The trustees have considered the impact that the COVID-19 pandemic will have on the charity’s current and future financial position. The charity is taking the following steps to mitigate the threats that COVID-19 may pose to the organisation:

• All staff were, at various stages, either fully or partly furloughed in order to minimise costs whilst the

• business is unable to operate.

• All expenditure is regularly reviewed, and only essential costs are being incurred.

• Cash flow forecasts are maintained and updated on a regular basis and the business will be managed

• within the available cash flow.

The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons:

• The charity holds reserves as detailed in the Going Concern accounting policy.

• The reserves and cash balances are adequate to maintain the organisation for at least 12 months.

The trustees therefore consider it appropriate to adopt the going concern basis of preparation of the accounts, as detailed in note 1 to the financial statements.

Plans for future periods

The New Room trustees are committed to continuing with the same level of operation as presently until, at least 2024, although it is recognised that existing funding streams will need to generate more income, and new income streams will need to be identified and secured. Income generation from new sources, such as online sales and events, will be critical to achieving that objective. The Friends of the New Room was relaunched, and legacies will be promoted as a way to support the New Room.

In the meantime, staff will continue to deliver the previously agreed Activity Plan for the Methodist Church until 2024. This work includes education outreach, community engagement, museum, library, and archive research and learning opportunities and volunteering skill development in hospitality and retail.

As the pandemic is ongoing, it is not possible, at this time, to project as to when it will end and how quickly people’s confidence will be restored. However, the additional funding secured in the last year provides a better opportunity of continuing to develop the work begun since 2017 when its new facilities were opened. The New Room is in a more resilient position than before the pandemic as it has taken the opportunity during lockdown to develop its online and digital offer. As the oldest Methodist building in the world, it occupies a unique position that will continue to attract visitors locally, nationally, and internationally. However, it is recognised that the New Room will need to be pro-active in developing its income streams and re-active to changes still to come once the pandemic is over.

Structure, governance, and management

The Trustees of John Wesley’s Chapel (the New Room) and 4-5 Charles Street are appointed to manage the affairs of the Trust on behalf of the British Methodist Church. They operate under Methodist Church Act 1976 Standing Order 220 and 910 (5) of the Constitutional Practice and Discipline of the Methodist Church.

The Trustees are responsible for proposing new trustees as and when required but the decision on who becomes a trustee is then taken by the Methodist Church at its annual Conference. There are normally up to twenty trustees appointed and these cover a wide range of specialisms. It is the aim that 75% of the trustees should be Methodists or come from a Methodist background and to have representation from circuit. district and Connexional levels of the Methodist Church. The Secretary of the Methodist Conference or a designated substitute is an ex-officio trustee. Each trustee is normally appointed for a period not exceeding six years, although a person can seek re-appointment if that is in the interests of the charity. There is an expectation that each trustee will serve either on a committee or in some other direct way.

A trustee must be over eighteen years old, satisfactorily meet the regulations that apply with regard to child protection and be free of any criminal convictions. He or she must not be in a position to benefit from the charity and must be willing to attend in-service training as deemed appropriate. The in-service training programme is determined by the Chair and Director working in liaison with the Education Officer, the Management and Engagement Committee, and agencies of the Methodist Church, such as the Heritage Committee. The Heritage Committee is an important support network, which contains a wide body of expertise and representatives from all the key Methodist heritage sites.

The Trustees appoint from within their number a Chair and a range of other voluntary officers, including a Deputy-Chair, a Chair of the Finance and Property Committee, a Chair of the Management and Engagement Committee, a Secretary, a Treasurer, a Historical Consultant, two Chaplains, and a representative who sits on the Methodist Church’s Heritage Committee.

The Trustees normally meet three times a year. The Secretary gives at least two weeks’ notice of meetings and for a meeting to be quorate there must be 50% of the total number plus one in attendance. Where decisions are

taken each trustee, present has one vote and, if there is an equality of votes, the Chair has a casting vote. There are two committees that also normally meet three times a year (the Management and Engagement Committee and the Finance and Property Committee). There is also an Executive Committee which meets as and when required (normally once between each of the full meetings of the Trustee body). It operates under the delegated authority of the Trustees and is answerable to them. Its membership comprises the Chair of Trustees (who acts as its Chair), the Deputy Chair, the Chair of the Management and Engagement Committee, the Chair of the Finance and Property Committee, the Secretary of the Trustees, and, in a non-voting capacity, the Director. The Committee has the authority to co-opt people with particular skills as may be appropriate to attend a meeting or undertake specific tasks to assist the Committee.

From September 2021, a revised governance structure has been adopted. In order to avoid duplication of issues, a single Operations Committee will now meet monthly and report directly to the Trustees. Its membership will comprise the Chair of Trustees, Deputy Chair of Trustees, the former Chair of the Finance & Property Committee, the Treasurer, the Director, and the Deputy Director. There will also be the option of co-opting other trustees or staff for particular meetings as and when required.

The Operations Committee’s terms of reference are:

1. to formulate the overall strategy for the future operation of the Trust which is consistent with the Mission Statement and approved by the Trustees;

2. to oversee the Five-Year Strategic Plan which incorporates the strategic requirements of the Trust and is approved by the Trustees and, in line with this, the annual Activity Plan;

3. to oversee that the day-to-day running of the New Room is effective;

4. to oversee the activities of any working group that is set up, giving guidance and/or authority where necessary;

5. to keep itself informed of the financial position of the Trust and to recommend to the Trustees strategic decisions in the light of this.

The Trustees have the power to employ staff and set terms, conditions, and remuneration rates of such employment, having regard to employment law and to lay employment guidelines set by the Methodist Church. There is an annual review of salaries to take account of inflation (undertaken in conjunction with the Methodist Church) but every three years there is a wider review to compare salaries with what is happening in the marketplace for comparable roles and to take into account any significant changes in responsibility. The Trustees delegate day to day decision making to the Director who also line-manages the other staff (Operations Manager, Education Officer, Collections Manager/Community Engagement Officer, Cafe Manager, etc.). Regular reports are expected from the staff to the Trustees (and, whenever judged necessary, staff may be requested to attend a part of the Trustees’ meeting to answer questions, etc.).

The Chair of Trustees line manages the Director and works with him and the Operations Committee to develop strategic proposals and these are then discussed and developed within the Committees or working parties before being decided upon by the Trustee body as a whole. The Director attends Trustee meetings and committees but in a non-voting capacity. The Director and appropriate members of the staff team are responsible for recruiting a range of volunteers (working as guides, working in the cafe and shop, working in the archives, library or museum, fund-raising, etc.) and ensuring these are properly trained. In addition, the Trustees identify and invite people to become patrons or ambassadors for the New Room (abroad as well as in the UK).

The Trustees are required to ensure that the Trust remains solvent through its activities and through donations and other fund-raising exercises. No trustee or volunteer can benefit financially except from the receipt of payment for expenses incurred in the course of duties and there is an agreed policy on expenses. Any funds raised, grants obtained, loans secured, or income received in any other way can only be used for the purposes of

the Trust. Trustees take care in investing the funds of the Trust and seek to avoid undertaking any activities that might place the Trust’s endowments, funds, assets, or reputation at risk.

From 2015 to 2021, the Trustees worked closely with the Heritage Lottery Fund because it made a major grant (£2.6 million) towards ‘the Horsefair Project’ - the creation of a new Museum and a new Visitors’ Centre (including a Cafe and new Archives and Library) and the development of greater community engagement programme. The Trust has also been reporting back to other donors to the Project, including the Joseph Rank Trust, Leonard Laity Stoate Charitable Trust, and the Wolfson Foundation. As part of this process, a major risk assessment was undertaken and that is being subsequently monitored and, where necessary, updated by the Chair of the Finance and Property Committee working in conjunction with various staff and volunteers. A specialist risk assessment relating to the Museum Collection has also been drawn up.

Funds held as Custodian Trustee on behalf of others

No funds are held on behalf of others

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Approved by order of the board of trustees and signed on its behalf on 21 March 2022 by:

Mr John Savage - Trustee

Mr Geoff Gollop - Trustee

The New Room/John Wesley's Chapel

Statement of Financial Activities (SOFA) for the year ended 31 August 2021

	Notes to the accounts	General Fund (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Endowment Funds	Total 2020-21
		£	£	£	£	£
Income
1 Donations,Legacies and Grants	2	121,958		129,946		251,904
2 Charitable Activities	3	36,292				36,292
3 Other TradingActivities	4	35,739				35,739
4 Interest and investment income	5	4,530				4,530
5 Other	6	2,305				2,305
6Total income		200,824	0	129,946	0	330,770
Expenditure
7 RaisingFunds	7	105,789				105,789
8 Charitable Activities	8	85,632		184,522		270,154
9 Other
10Total charitable expenditure		191,421	0	184,522	0	375,943
11 Gains/(losses)on monetaryinvestments		1,501		(1,176)	36,069	36,394
12 Net income/(expenditure)		10,904	0	(55,752)	36,069	(8,779)
13 Transfers between funds		37,126	(30,000)	(7,126)		0
14 Othergains/(losses)						0
15Net movement in funds		48,030	(30,000)	(62,878)	36,069	(8,779)
16 Total funds brought forward		251,131	95,823	228,930	134,219	710,103
17 Total funds carried forward		299,161	65,823	166,052	170,288	701,324

Year ended 31 August 2020

		General Fund (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Endowment Funds	Total 2019-20
		£	£	£	£	£
Income
1 Donations, Legacies and Grants		170,994		112,073		283,067
2 Charitable Activities		65,069				65,069
3 Other Trading Activities		88,999				88,999
4 Interest and investment income		7,425				7,425
5 Other		2,151				2,151
6Total income		334,638	0	112,073	0	446,711
Expenditure
7 Raising Funds		119,355				119,355
8 Charitable Activities		95,234		144,602		239,836
9 Other
10Total charitable expenditure		214,589	0	144,602	0	359,191
11 Gains/(losses) on monetary investments		(923)		575	(14,428)	(14,776)
12 Net income/(expenditure)		119,126	0	(31,954)	(14,428)	72,744
13 Transfers betweenfunds		(30,000)	30,000			0
14 Othergains/(losses)						0
15Net movement infunds		89,126	30,000	(31,954)	(14,428)	72,744
16 Totalfunds broughtforward		162,005	65,823	260,884	148,647	637,359
17 Totalfunds carriedforward		251,131	95,823	228,930	134,219	710,103

11

The New Room/John Wesley's Chapel

Balance Sheet as at 31 August 2021

	Notes to the accounts	General Fund (Unrestricted)	Designated Funds (Unrestricted)	Restricted Funds	Endowment Funds	Totals 2021	Totals 2020
		£	£	£	£	£	£
Fixed Assets
Church buildingand otherproperty
Investmentproperties
Investments	16	9,042		61,046	170,288	240,376	266,018
Total fixed assets		9,042	0	61,046	170,288	240,376	266,018
Current Assets
ShopStock		10,402				10,402	11,586
Debtors andprepayments	17	133,500				133,500	68,004
Investments with Trustees for Methodist Church Purposes (TMCP) - Short term	18			105,006		105,006	105,017
Central Finance Board (CFB) Deposits	17	141,637	65,823	9,504		216,964	268,630
Cash at Bank and in hand	17	26,652				26,652	8,967
Total current assets		312,191	65,823	114,510	0	492,524	462,204
Current liabilities
Creditors(due in under 1year)	19	22,072		9,504		31,576	18,119
Total current liabilities		22,072		9,504	0	31,576	18,119
Net current assets/liabilities		290,119	65,823	105,006	0	460,948	444,085
Total assets less current liabilities		299,161	65,823	166,052	170,288	701,324	710,103
Long term liabilities (due after more than oneyear)
NET ASSETS		299,161	65,823	166,052	170,288	701,324	710,103
Funds of the New Room
General Fund(Unrestricted)	21	299,161				299,161	251,131
Designated Funds(Unrestricted)	21		65,823			65,823	95,823
Total Unrestricted Funds						364,984	346,954
Restricted Funds	21			166,052		166,052	228,930
Endowment Funds	21				170,288	170,288	134,219
TOTAL FUNDS		299,161	65,823	166,052	170,288	701,324	710,103

The financial statements were approved by the board

Approved on behalf of the Board of Trustees on 21 March 2022

Mr John Savage - Trustee

Mr Geoff Gollop - Trustee

The notes on pages 13 to 22 form part of these financial statements

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The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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 2015 (FRS 102) (effective 1 January 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. However, the COVID-19 pandemic is likely to have a profound impact on the global economy and has in turn affected the charity. The trustees have considered the impact of this issue on the charity's current and future financial position as explained in the Trustees' Report Financial Review section. The trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

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 £.

Income

Income is brought into account when it is more likely than not that the economic benefit of the income will accrue to the Charity. No attempt is made to measure the value of services donated by volunteers. Individual amounts categorised as Other Income in the SOFA will be shown separately if they are considered material. Grants are recognised in full in the SOFA in the year in which they are receivable, where all the conditions of the grant have been met. Where conditions exist which remain unsatisfied, the grant is treated as a liability until the conditions have been substantially met.

13

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

1. ACCOUNTING POLICIES (continued)

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs comprise all costs involved in the public accountability of the charity and its compliance with regulation and good practice.

VAT

The Trust is registered for VAT and accounts for VAT under a partial exemption special method approved by HMRC.

Fund accounting

Unrestricted funds are incoming resources receivable or generated for the objects of the Trust without further specified purpose. They are available as general funds and can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets the criteria is charged to the fund together with a fair allocation of support costs where appropriate. Endowment funds represent restricted gifts, the capital normally being unavailable for spending. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial Instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised 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 enforceable 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.

14

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

1. ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

No judgements (apart from those involving estimates) have been made in the process of aplying the above accounting policies.

Donated goods and services

No value is included in the financial statements in respect of the receipt of items donated to the museum and library collections. If items are donated for resale then the income from sale will be recognised at the point of sale. In accordance with Charities SORP (FRS 102) the time of volunteers is not recognised.

Allocation and apportionment of support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on floor area basis and other overheads have been allocated on estimated management time spent in support of the relevant activity.

Stock

Stocks are stated at the selling price less 50%.

Investments

Investments are made in various TMCP funds and recognised at the fund market value at balance sheet date. Current asset investments with TMCP are mainly short term highly liquid investments.

Cash

Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash on deposit with the Central Finance Board can normally be accessed within two working days' notice.

Debtors

Debtors are measured on initial recognition at settlement amount after any amounts advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Creditors

The charity has creditors which are measured at settlement amounts.

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The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

2. Donations, Legacies	Unrestricted	Designated	Restricted	2021 Total	2020 Total
and Grants	£	£	£	£	£
Tax credits	1,606			1,606	1,559
Donations	8,427			8,427	73,316
Grants	111,925		129,946	241,871	208,192
Total	121,958	0	129,946	251,904	283,067

There were material grants received as follows: £69,711 for CJRS payments, £8,805 received from Bristol City Council, £93,080 of HLF funding, £20,000 Connexional grant funding, a £39,525 Methodist Church Heritage Sites grant and a £10,000 Methodist Church (Bristol District) grant.

3. Charitable activities	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Fund raising	4,707			4,707	9,156
Museum,Tours etc	3,688			3,688	12,072
Education Activities	297			297	2,608
5 Charles St Rent	27,600			27,600	26,668
Total	36,292	0	0	36,292	50,504

4. Other trading activities	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Shop	6,992			6,992	14,677
Café	24,317			24,317	74,322
Lettings	4,430			4,430	14,565
Total	35,739	0	0	35,739	103,564

5. Investment income	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Central Finance Board & TMCP	4,530			4,530	7,425
Total	4,530	0	0	4,530	7,425

6. Other	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Other Income	2,305			2,305	2,151
Total	2,305	0	0	2,305	2,151

16

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

7. Analysis of expenditure on Raising Funds	Activities undertaken directly		Support Costs	Total
2020-21	£		£	£
Shop	16,087		5,403	21,490
Café	64,694		17,572	82,266
Fundraisingofficer	2,033		0	2,033
	82,814		22,975	105,789
2019-20
Shop	19,552		3,670	23,222
Café	83,550		12,583	96,133
	103,102		16,253	119,355

8. Analysis of expenditure on Charitable Activities	Activities undertaken directly	Grant Funding of Activities	Support Costs	Total
2020-21	£	£	£	£
Museum & Collections	53,971		19,451	73,422
Education & CommunityEngagement	97,598		12,624	110,222
Other	46,177		30,829	77,006
	197,746	0	62,904	260,650
2019-20
Museum & Collections	51,122		17,297	68,419
Education & Community Engagement	83,901		9,436	93,337
Other	47,683		30,397	78,080
	182,706	0	57,130	239,836

9. Allocation of Support Costs	Governance	Office Costs	Property Running Costs	Total
2020-21	£	£	£	£
RaisingFunds - Shop	235	3,802	1,366	5,403
- Café	705	11,405	5,462	17,572
Charitable Activities - Museum & Collections	470	7,603	11,378	19,451
- Education & CommunityEngagement	470	7,603	4,551	12,624
- Other	470	7,603	22,756	30,829
Total Support Costs	2,350	38,016	45,513	85,879
2019-20
Raising Funds - Shop	220	1,878	1,572	3,670
- Café	660	5,635	6,288	12,583
Charitable Activities - Museum & Collections	440	3,756	13,101	17,297
- Education & Community Engagement	440	3,756	5,240	9,436
- Other	440	3,756	26,201	30,397
Total Support Costs	2,200	18,781	52,402	73,383

17

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

10. Independent Examiner's/Auditor's Remuneration

Amounts payable to the independent examiner comprise £2,200 + VAT ( 2020: £2,200 + VAT) for the independent examination and £1,650 + VAT (2020: £nil) for accounts preparation. There was also £701 + VAT (2020: £2,594 + VAT) for accounting advice.

11. Trustees' Remuneration and benefits

There was no Trustees' remuneration for the year ended 31st August 2021. ( 2020: £ nil )

	2020-21	2019-20
Number of trustees who were paid expenses	0	3
Nature of the expenses : Travel Expenses
Total amount paid	£0	£254

The total employment benefits, including national insurance and pension contributions, of the key management personnel were £ 45,244 ( 2020: £43,681 ).

	2020-21	2019-20
12. Staff Costs	£	£
Gross wages, salaries and benefits in kind	188,099	182,698
Employer’s National Insurance costs	16,403	15,520
Pension costs	11,714	11,717
Total staff costs	216,216	209,935

Of these staff costs, £51,061 relate to Raising Funds and £165,155 to Charitable Activities and have been included in Activities Undertaken Directly in notes 7 and 8.

Average number of	staff employed during the year were:	8	9
Average number of	full time equivalent staff employed:	7	7

No employees received total emoluments of more than £60,000

13. Pension Benefits

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the year was £ 11,714 ( 2020: £11,717 ).

Pension costs are allocated to activities based on estimated time to support the relevant activity and are recognised in the general fund and development fund as appropriate.

18

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

14. Volunteers Note

The volunteers at the New Room are a critical part of its operation and, without them, the site could not function. There are a wide variety of volunteering opportunities at the New Room, ranging from chapel welcomers to café helpers, from trustees to collections volunteers. The time that volunteers give to the New Room enable it to remain open to visitors six days a week and there is a wide range of activity that is delivered across the site during 300+ days of opening in a normal year. During 2020-21 opening has been significantly curtailed due to the Government's coronavirus restrictions. the The volunteers are supported in the respective roles by individual staff team members and training is provided to develop specific knowledge and skill sets.

15. Tangible Fixed Assets

No valuation is attached to tangible fixed assets. The trustees act only as managing trustees for the premises which belong to the Methodist Connexion. For insurance purposes the chapel and visitor centre and Charles Street premises and contents are valued at £7,068,694 ( 2020 £6,810,656 ).

16. Investments

TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

Analysis of investment movements	2020-21	2019-20
	£	£
Carrying (market) value at beginning of year	266,018	280,795
Investments disposed of in year	(62,036)	-
Net gain (loss) on revaluation	36,394	(14,777)
Carrying (market) value at end of year	240,376	266,018

These investments are managed by TMCP and held in the CFB Managed Equity Fund and shown at market value at the balance sheet date.

19

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

17. Analysis of other current assets		2020-21		2019-20
		£		£
Debtors andprepayments
Trade Debtors		2,670		556
Prepayments & Accrued Income		129,800		67,111
Other Debtors		1,030		337
Total Debtors andprepayments		133,500		68,004
Analysis of cash at bank
Bank balance(Bank of Scotland)		24,925		8,004
Bank balance(Central Finance Board)		216,964		268,630
Other		1,727		963
Total Cash at Bank		243,616		277,597

18. Current Asset Investments		2020-21		2019-20
		£		£
Trustees Interest Fund		105,006		105,017
Total		105,006		105,017
Investments are shown at market value at the balance sheet date.

19. Analysis of current liabilities		2020-21		2019-20
		£		£
Trade Creditors		12,943		4,958
Other Creditors		805		653
Taxation and Social Securitycosts		4,662		9,704
Accrued expenses		13,166		2,804
Total Current Liabilities		31,576		18,119

20. Related Party Transactions

There were unrestricted donations totalling £700 from trustees in the year to 31 August 2021 (2020: nil)

20

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

21. Detailed analysis of individual fund movements 2020/21

	Opening Balance £	Income £	Expenditure £	Transfers £	Revaluation gains (losses) £	Closing Balance £
Unrestricted Funds
General	251,131	200,824	191,421	37,126	1,501	299,161
Totals	251,131	200,824	191,421	37,126	1,501	299,161
Designated Funds
Major Repairs	26,313					26,313
Broadmead Courtyard	9,510					9,510
Grants AwaitingApplication	60,000			(30,000)		30,000
Totals	95,823	0	0	(30,000)	0	65,823
Restricted Funds
Development	61,702	129,946	184,522	(7,126)		0
Chapel Appeal and Maintenance	167,228				(1,176)	166,052
Totals	228,930	129,946	184,522	(7,126)	(1,176)	166,052
Endowment Funds
Gift of C C Posnett	87,125				23,413	110,538
Various Bequests	47,094				12,656	59,750
Totals	134,219	0	0	0	36,069	170,288

A material transfer of £30,000 was made from the Grants Awaiting Application Fund to the General Fund, to go towards expenditure in the 2020-21 year.

Fund purposes

Major Repairs Fund : For major repairs and maintenance of both The New Room and 4-5 Charles Street. Broadmead Courtyard Fund : For ongoing development and maintenance of the Broadmead Courtyard. Grants awaiting application: Grants received in advance for expenditure in 2020-21 and 2021-22. Development Fund : For HLF project costs relating to the new building in the Horsefair Courtyard. Chapel Appeal and Maintenance: For use in maintaining and improving the premises.

21

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

21. Detailed analysis of individual fund movements (comparative) 2019/20

	Opening Balance £	Income £	Expenditure £	Transfers £	Revaluation gains (losses) £	Closing Balance £
Unrestricted Funds
General	162,005	334,638	214,589	(30,000)	(923)	251,131
Totals	162,005	334,638	214,589	(30,000)	(923)	251,131
Designated Funds
Major Repairs	26,313					26,313
Broadmead Courtyard	9,510					9,510
Grants awaiting application	30,000			30,000		60,000
Totals	65,823	0	0	30,000	0	95,823
Restricted Funds
Development	94,231	112,073	144,602			61,702
Chapel Appeal and Maintenance	166,653				575	167,228
Totals	260,884	112,073	144,602	0	575	228,930
Endowment Funds
Gift of C C Posnett	96,491				(9,366)	87,125
Various Bequests	52,156				(5,062)	47,094
Totals	148,647	0	0	0	(14,428)	134,219

22. Analysis of assets between funds (comparative) 2019/20

Fund Name Totals Fixed assets Other current assets Cash and current investments Liabilities - Creditors (due in under 1 year)	Unrestricted Funds £	Designated Funds £	Restricted Funds £	Endowment Funds £	Total £
	0	0	131,799	134,219	266,018
	236,345	95,823	50,446	0	382,614
	32,905	0	46,685	0	79,590
	(18,119)	0	0	0	(18,119)
	251,131	95,823	228,930	134,219	710,103

22

Independent Examiner's Report to the Trustees of The New Room/John Wesley's Chapel

Independent examiner's report to the trustees of The New Room/John Wesley's Chapel

I report to the charity trustees on my examination of the accounts of The New Room/John Wesley's Chapel for the year ended 31 August 2021.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form 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 have no concerns, other than the matter set out below, 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 accounts to be reached.

Matter of concern identified

The trustees' view on the impact of Covid-19 is disclosed in the Trustees’ Report and accounting policies note. However, not all future events or conditions can be predicted. The Covid-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity.

Geoffrey SpeirsFCA Haines Watts Chartered Accountants Bath House 6-8 Bath Street Bristol BS1 6HL

29 March 2022

THE NEW ROOM / JOHN WESLEY’S CHAPEL

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2021

The New Room/John Wesley's Chapel Year ended 31st August 2021 Charity Reference and Administrative Details

Charity Registration No 1137957

Trustees Mr John Savage Mr Niall Phillips Rev David Alderman Rev Jonathan Pye Ms Jane Allin Mr Michael Rose Mr Gary Best Mrs Aroona Smith Rev Josette Crane Rev David Weeks Mr Geoffrey Gollop Rev Steve Wild Mrs Linda Jones Rev Jonathan Hustler Rev A Ward Jones Mrs Rachel Newton Mr John Hirst Director Mr David Worthington Registered office 36 The Horsefair Bristol BS1 3JE Independent Examiner Haines Watts Partnership (Bristol) Limited 6-8 Bath Street Redcliffe Bristol BS1 6HL Bankers Bank of Scotland 33 Old Broad Street London EC2N 1HZ Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE Investment Managers Trustees for Methodist Church Purposes Central Buildings, Oldham Street Manchester M1 1JQ

The New Room/John Wesley's Chapel Year ended 31st August 2021 Trustees' Annual Report

The Trustees present their report and the audited financial statements of the charity for the year ended 31st August 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

Objectives and activities

The Trustees are responsible to the Methodist Church for maintaining the New Room and Charles Wesley’s House and promoting them as a community facility, educational resource, heritage attraction, and cultural venue in Bristol. This involves:

• a. setting, developing, and maintaining the vision and mission of the New Room and Charles Wesley’s House as places of pilgrimage, enabling visitors to understand the historical and religious importance of John and Charles Wesley and their continuing influence, especially on worldwide Methodism.

• b. maintaining John Wesley’s Chapel at the New Room as a place of worship and prayer and spiritual refreshment and for concerts, recitals, celebrations, and other events for which it is suited;

• c. maintaining the upstairs rooms at the New Room as an accredited Museum, highlighting the role of the Wesleys and their links with Bristol;

• d. maintaining Charles Wesley’s House in a manner indicative of its use by his family, with particular reference to his contribution to hymnody and the musical achievements of his sons;

• e. maintaining an archive and library for public use that particularly focuses on eighteenth century Methodism and, more locally, on the history of Methodism in Bristol and the surrounding area;

• f. engaging with the local community through various educational and other activities and through its cafe;

• g. overseeing the property, finances, staffing, volunteers, organisation and activities and all matters pertaining to the work of the New Room and Charles Wesley’s House. This includes ensuring that the Trust complies with charity law and other legislation.

In order to fulfil these objectives over 150 volunteers contribute and the wide range of activities taking place are a product of engaging not only with many local churches, schools, youth groups, charities, places of higher education, and other organisations but also with Bristol City community initiatives, with other Methodist heritage sites across the country, and with national and international organisations linked to Methodism.

Fund-raising Standards Information

No professional fundraiser or commercial organisation is employed to fund raise. Some of the charity’s income is derived from its activities:

• a. income received from museum visitors;

• b. income from profits made by the cafe and shop and from commercial letting of facilities;

• c. income from activities for which there is a charge.

Other fund-raising is planned by the Executive Committee and authorised by the Trustees as a whole. The fundraising takes various forms;

• a. some individuals are asked to volunteer as ‘ambassadors’ for the work of the New Room both in Britain and abroad (mainly in the USA and Korea). They are asked to identify and encourage potential donors;

• b. some individuals are asked to volunteer as ‘fund-raisers’ working through the Friends of the New Room. This may involve:

• i) making applications for grants to trusts or other organisations;

ii) organising fund-raising events;

iii) encouraging individuals to give regular gift-aided donations;

• c. having donation boxes within the New Room and Charles Wesley’s House;

• d. seeking financial support through information provided in leaflets and on the web site.

It is made clear to all those involved in fund-raising that no undue pressure must be placed on anyone to give money or other property and the Trustees will not permit any fund-raising activity that might be judged to be an unreasonable intrusion on a person’s privacy or unreasonably persistent or unreasonable to anyone who might be judged to be vulnerable.

All the money raised is processed via the Finance Officer and there are strict guidelines regulating the handling of monies. The Finance and Property Committee oversee that these regulations are followed.

There have been no complaints received about the charity’s fund-raising activity or about the activities of any of our volunteer fundraisers.

Public benefit statement

The trustees have had regard to the Charity Commission guidance on public benefit.

Achievements and Performance

The New Room is open to visitors six days a week (Monday to Saturday) all the year round and is the most visited Methodist heritage site in the UK.

The opening of the new visitor centre in the Horsefair Courtyard in June 2017 has seen a significant step-change at the New Room and its operation. The new facilities have enabled the New Room to develop its work as a place of pilgrimage, worship, exploration, community building and spiritual growth through its state-of-the-art museum and library space, meeting room for education and training, café, and shop. Overall visitor numbers since the new facilities opened have seen higher than ever figures recorded; with over 50,000 visitors per annum, double the amount who visited prior to the opening of the new visitor centre.

The challenge moving forward is to ensure that what has been achieved can be expanded and sustained beyond the end of the financial support from Heritage Lottery Fund (HLF) which ended on 31[st] August 2021. During the course of 2019/20, over £200,000 funding was secured through until 2024 from a number of different funding streams from within the Methodist Church based on a plan to deliver a range of events and activities using the existing staff team.

The current staff team is made up of 8 paid roles which are Director (F/T), Education Officer (F/T), Collections Manager/Community Engagement Officer (F/T), Operations Manager (F/T), Café Manager (F/T) and Assistant Café Manager (F/T), Finance Officer (P/T) and Fundraising Officer (P/T). A number of these roles were funded through the HLF project but following the completion of said project, all are now funded either by New Room activities or grants from the Methodist Church at both national and district levels.

The current income streams need to increase to supplement the funding provided by the Methodist Church. Based on current projections, it is anticipated that this will need to be @£80K per annum. During 2021, it was

decided to appoint a Fundraising Officer (P/T) who began the role in July 2021 to seek to address this deficit. In addition, there is an external consultant who is contracted to deliver the Marketing & Communications Officer (P/T) role.

As at 1/9/20, the site was re-open again to visitors six days a week, albeit with reduced hours from 11am to 3pm rather than its usual hours of 10am to 4pm. It was then closed from 1/11/20 in line with the government mandated lockdown until it was permitted to re-open from 17/5/21. However, it again operated with reduced hours for the remainder of the financial year; 31/8/21. As a result of these respective lockdowns, the annual visitor number for the financial year was just under 10,000; one fifth of a typical year of 50,000. This reduced number also impacted on income generation during the last financial year.

Volunteers remain at the heart of the New Room’s activity and there is a particular focus on expanding the numbers to support the increased size of the operation. There are a wide range of volunteering opportunities available including hospitality, retail, and museum collections so it is hoped that this will widen the backgrounds of those who offer their services. The New Room has been successful in recruiting students from both universities in the city as well as offering work experience and internships. However, the pandemic has also seen a number of long-serving volunteers step down from their roles and so active recruitment will continue to boost the numbers again.

The trustees adopted a new governance structure which came into force on 1st September 2018. The number of trustees reduced from 18 to 17 and the revised committee structure, including the monthly meeting of the Executive Committee, has introduced a more streamlined reporting process to the trustee body.

Financial review (including reserves policy)

The Achievements and Performance section above highlights the significant changes that have taken place during the year under report. The main financial aim in that period was to carry out the project within budget and manage the expanded operations without needing to utilise reserves. That aim appears to have been achieved. At the year end, free reserves of £299,161 (2020 - £251,131) were held.

The following section indicates the plans to establish a sustainable operating model for its activities. The trustees recognise that there will be a need to use its reserves in the short-term, but it is hoped that with permissions being granted in order to expand the range and number of activities across the site, that a sustainable operating model can be established. Monthly management accounts are prepared and monitored to ensure budget is maintained and the General Fund reserves level is considered adequate presently.

COVID-19

The trustees have considered the impact that the COVID-19 pandemic will have on the charity’s current and future financial position. The charity is taking the following steps to mitigate the threats that COVID-19 may pose to the organisation:

• All staff were, at various stages, either fully or partly furloughed in order to minimise costs whilst the

• business is unable to operate.

• All expenditure is regularly reviewed, and only essential costs are being incurred.

• Cash flow forecasts are maintained and updated on a regular basis and the business will be managed

• within the available cash flow.

The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons:

• The charity holds reserves as detailed in the Going Concern accounting policy.

• The reserves and cash balances are adequate to maintain the organisation for at least 12 months.

The trustees therefore consider it appropriate to adopt the going concern basis of preparation of the accounts, as detailed in note 1 to the financial statements.

Plans for future periods

The New Room trustees are committed to continuing with the same level of operation as presently until, at least 2024, although it is recognised that existing funding streams will need to generate more income, and new income streams will need to be identified and secured. Income generation from new sources, such as online sales and events, will be critical to achieving that objective. The Friends of the New Room was relaunched, and legacies will be promoted as a way to support the New Room.

In the meantime, staff will continue to deliver the previously agreed Activity Plan for the Methodist Church until 2024. This work includes education outreach, community engagement, museum, library, and archive research and learning opportunities and volunteering skill development in hospitality and retail.

As the pandemic is ongoing, it is not possible, at this time, to project as to when it will end and how quickly people’s confidence will be restored. However, the additional funding secured in the last year provides a better opportunity of continuing to develop the work begun since 2017 when its new facilities were opened. The New Room is in a more resilient position than before the pandemic as it has taken the opportunity during lockdown to develop its online and digital offer. As the oldest Methodist building in the world, it occupies a unique position that will continue to attract visitors locally, nationally, and internationally. However, it is recognised that the New Room will need to be pro-active in developing its income streams and re-active to changes still to come once the pandemic is over.

Structure, governance, and management

The Trustees of John Wesley’s Chapel (the New Room) and 4-5 Charles Street are appointed to manage the affairs of the Trust on behalf of the British Methodist Church. They operate under Methodist Church Act 1976 Standing Order 220 and 910 (5) of the Constitutional Practice and Discipline of the Methodist Church.

The Trustees are responsible for proposing new trustees as and when required but the decision on who becomes a trustee is then taken by the Methodist Church at its annual Conference. There are normally up to twenty trustees appointed and these cover a wide range of specialisms. It is the aim that 75% of the trustees should be Methodists or come from a Methodist background and to have representation from circuit. district and Connexional levels of the Methodist Church. The Secretary of the Methodist Conference or a designated substitute is an ex-officio trustee. Each trustee is normally appointed for a period not exceeding six years, although a person can seek re-appointment if that is in the interests of the charity. There is an expectation that each trustee will serve either on a committee or in some other direct way.

A trustee must be over eighteen years old, satisfactorily meet the regulations that apply with regard to child protection and be free of any criminal convictions. He or she must not be in a position to benefit from the charity and must be willing to attend in-service training as deemed appropriate. The in-service training programme is determined by the Chair and Director working in liaison with the Education Officer, the Management and Engagement Committee, and agencies of the Methodist Church, such as the Heritage Committee. The Heritage Committee is an important support network, which contains a wide body of expertise and representatives from all the key Methodist heritage sites.

The Trustees appoint from within their number a Chair and a range of other voluntary officers, including a Deputy-Chair, a Chair of the Finance and Property Committee, a Chair of the Management and Engagement Committee, a Secretary, a Treasurer, a Historical Consultant, two Chaplains, and a representative who sits on the Methodist Church’s Heritage Committee.

The Trustees normally meet three times a year. The Secretary gives at least two weeks’ notice of meetings and for a meeting to be quorate there must be 50% of the total number plus one in attendance. Where decisions are

taken each trustee, present has one vote and, if there is an equality of votes, the Chair has a casting vote. There are two committees that also normally meet three times a year (the Management and Engagement Committee and the Finance and Property Committee). There is also an Executive Committee which meets as and when required (normally once between each of the full meetings of the Trustee body). It operates under the delegated authority of the Trustees and is answerable to them. Its membership comprises the Chair of Trustees (who acts as its Chair), the Deputy Chair, the Chair of the Management and Engagement Committee, the Chair of the Finance and Property Committee, the Secretary of the Trustees, and, in a non-voting capacity, the Director. The Committee has the authority to co-opt people with particular skills as may be appropriate to attend a meeting or undertake specific tasks to assist the Committee.

From September 2021, a revised governance structure has been adopted. In order to avoid duplication of issues, a single Operations Committee will now meet monthly and report directly to the Trustees. Its membership will comprise the Chair of Trustees, Deputy Chair of Trustees, the former Chair of the Finance & Property Committee, the Treasurer, the Director, and the Deputy Director. There will also be the option of co-opting other trustees or staff for particular meetings as and when required.

The Operations Committee’s terms of reference are:

1. to formulate the overall strategy for the future operation of the Trust which is consistent with the Mission Statement and approved by the Trustees;

2. to oversee the Five-Year Strategic Plan which incorporates the strategic requirements of the Trust and is approved by the Trustees and, in line with this, the annual Activity Plan;

3. to oversee that the day-to-day running of the New Room is effective;

4. to oversee the activities of any working group that is set up, giving guidance and/or authority where necessary;

5. to keep itself informed of the financial position of the Trust and to recommend to the Trustees strategic decisions in the light of this.

The Trustees have the power to employ staff and set terms, conditions, and remuneration rates of such employment, having regard to employment law and to lay employment guidelines set by the Methodist Church. There is an annual review of salaries to take account of inflation (undertaken in conjunction with the Methodist Church) but every three years there is a wider review to compare salaries with what is happening in the marketplace for comparable roles and to take into account any significant changes in responsibility. The Trustees delegate day to day decision making to the Director who also line-manages the other staff (Operations Manager, Education Officer, Collections Manager/Community Engagement Officer, Cafe Manager, etc.). Regular reports are expected from the staff to the Trustees (and, whenever judged necessary, staff may be requested to attend a part of the Trustees’ meeting to answer questions, etc.).

The Chair of Trustees line manages the Director and works with him and the Operations Committee to develop strategic proposals and these are then discussed and developed within the Committees or working parties before being decided upon by the Trustee body as a whole. The Director attends Trustee meetings and committees but in a non-voting capacity. The Director and appropriate members of the staff team are responsible for recruiting a range of volunteers (working as guides, working in the cafe and shop, working in the archives, library or museum, fund-raising, etc.) and ensuring these are properly trained. In addition, the Trustees identify and invite people to become patrons or ambassadors for the New Room (abroad as well as in the UK).

The Trustees are required to ensure that the Trust remains solvent through its activities and through donations and other fund-raising exercises. No trustee or volunteer can benefit financially except from the receipt of payment for expenses incurred in the course of duties and there is an agreed policy on expenses. Any funds raised, grants obtained, loans secured, or income received in any other way can only be used for the purposes of

the Trust. Trustees take care in investing the funds of the Trust and seek to avoid undertaking any activities that might place the Trust’s endowments, funds, assets, or reputation at risk.

From 2015 to 2021, the Trustees worked closely with the Heritage Lottery Fund because it made a major grant (£2.6 million) towards ‘the Horsefair Project’ - the creation of a new Museum and a new Visitors’ Centre (including a Cafe and new Archives and Library) and the development of greater community engagement programme. The Trust has also been reporting back to other donors to the Project, including the Joseph Rank Trust, Leonard Laity Stoate Charitable Trust, and the Wolfson Foundation. As part of this process, a major risk assessment was undertaken and that is being subsequently monitored and, where necessary, updated by the Chair of the Finance and Property Committee working in conjunction with various staff and volunteers. A specialist risk assessment relating to the Museum Collection has also been drawn up.

Funds held as Custodian Trustee on behalf of others

No funds are held on behalf of others

Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Approved by order of the board of trustees and signed on its behalf on 21 March 2022 by:

Mr John Savage - Trustee

Mr Geoff Gollop - Trustee

The New Room/John Wesley's Chapel

Statement of Financial Activities (SOFA) for the year ended 31 August 2021

	Notes to the accounts	General Fund (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Endowment Funds	Total 2020-21
		£	£	£	£	£
Income
1 Donations,Legacies and Grants	2	121,958		129,946		251,904
2 Charitable Activities	3	36,292				36,292
3 Other TradingActivities	4	35,739				35,739
4 Interest and investment income	5	4,530				4,530
5 Other	6	2,305				2,305
6Total income		200,824	0	129,946	0	330,770
Expenditure
7 RaisingFunds	7	105,789				105,789
8 Charitable Activities	8	85,632		184,522		270,154
9 Other
10Total charitable expenditure		191,421	0	184,522	0	375,943
11 Gains/(losses)on monetaryinvestments		1,501		(1,176)	36,069	36,394
12 Net income/(expenditure)		10,904	0	(55,752)	36,069	(8,779)
13 Transfers between funds		37,126	(30,000)	(7,126)		0
14 Othergains/(losses)						0
15Net movement in funds		48,030	(30,000)	(62,878)	36,069	(8,779)
16 Total funds brought forward		251,131	95,823	228,930	134,219	710,103
17 Total funds carried forward		299,161	65,823	166,052	170,288	701,324

Year ended 31 August 2020

		General Fund (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Endowment Funds	Total 2019-20
		£	£	£	£	£
Income
1 Donations, Legacies and Grants		170,994		112,073		283,067
2 Charitable Activities		65,069				65,069
3 Other Trading Activities		88,999				88,999
4 Interest and investment income		7,425				7,425
5 Other		2,151				2,151
6Total income		334,638	0	112,073	0	446,711
Expenditure
7 Raising Funds		119,355				119,355
8 Charitable Activities		95,234		144,602		239,836
9 Other
10Total charitable expenditure		214,589	0	144,602	0	359,191
11 Gains/(losses) on monetary investments		(923)		575	(14,428)	(14,776)
12 Net income/(expenditure)		119,126	0	(31,954)	(14,428)	72,744
13 Transfers betweenfunds		(30,000)	30,000			0
14 Othergains/(losses)						0
15Net movement infunds		89,126	30,000	(31,954)	(14,428)	72,744
16 Totalfunds broughtforward		162,005	65,823	260,884	148,647	637,359
17 Totalfunds carriedforward		251,131	95,823	228,930	134,219	710,103

11

The New Room/John Wesley's Chapel

Balance Sheet as at 31 August 2021

	Notes to the accounts	General Fund (Unrestricted)	Designated Funds (Unrestricted)	Restricted Funds	Endowment Funds	Totals 2021	Totals 2020
		£	£	£	£	£	£
Fixed Assets
Church buildingand otherproperty
Investmentproperties
Investments	16	9,042		61,046	170,288	240,376	266,018
Total fixed assets		9,042	0	61,046	170,288	240,376	266,018
Current Assets
ShopStock		10,402				10,402	11,586
Debtors andprepayments	17	133,500				133,500	68,004
Investments with Trustees for Methodist Church Purposes (TMCP) - Short term	18			105,006		105,006	105,017
Central Finance Board (CFB) Deposits	17	141,637	65,823	9,504		216,964	268,630
Cash at Bank and in hand	17	26,652				26,652	8,967
Total current assets		312,191	65,823	114,510	0	492,524	462,204
Current liabilities
Creditors(due in under 1year)	19	22,072		9,504		31,576	18,119
Total current liabilities		22,072		9,504	0	31,576	18,119
Net current assets/liabilities		290,119	65,823	105,006	0	460,948	444,085
Total assets less current liabilities		299,161	65,823	166,052	170,288	701,324	710,103
Long term liabilities (due after more than oneyear)
NET ASSETS		299,161	65,823	166,052	170,288	701,324	710,103
Funds of the New Room
General Fund(Unrestricted)	21	299,161				299,161	251,131
Designated Funds(Unrestricted)	21		65,823			65,823	95,823
Total Unrestricted Funds						364,984	346,954
Restricted Funds	21			166,052		166,052	228,930
Endowment Funds	21				170,288	170,288	134,219
TOTAL FUNDS		299,161	65,823	166,052	170,288	701,324	710,103

The financial statements were approved by the board

Approved on behalf of the Board of Trustees on 21 March 2022

Mr John Savage - Trustee

Mr Geoff Gollop - Trustee

The notes on pages 13 to 22 form part of these financial statements

12

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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 2015 (FRS 102) (effective 1 January 2019) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The accounts have been prepared on the assumption that the charity is able to continue as a going concern. However, the COVID-19 pandemic is likely to have a profound impact on the global economy and has in turn affected the charity. The trustees have considered the impact of this issue on the charity's current and future financial position as explained in the Trustees' Report Financial Review section. The trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

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 £.

Income

Income is brought into account when it is more likely than not that the economic benefit of the income will accrue to the Charity. No attempt is made to measure the value of services donated by volunteers. Individual amounts categorised as Other Income in the SOFA will be shown separately if they are considered material. Grants are recognised in full in the SOFA in the year in which they are receivable, where all the conditions of the grant have been met. Where conditions exist which remain unsatisfied, the grant is treated as a liability until the conditions have been substantially met.

13

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

1. ACCOUNTING POLICIES (continued)

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Governance costs

Governance costs comprise all costs involved in the public accountability of the charity and its compliance with regulation and good practice.

VAT

The Trust is registered for VAT and accounts for VAT under a partial exemption special method approved by HMRC.

Fund accounting

Unrestricted funds are incoming resources receivable or generated for the objects of the Trust without further specified purpose. They are available as general funds and can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets the criteria is charged to the fund together with a fair allocation of support costs where appropriate. Endowment funds represent restricted gifts, the capital normally being unavailable for spending. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial Instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised 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 enforceable 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.

14

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

1. ACCOUNTING POLICIES (continued)

Judgements and key sources of estimation uncertainty

No judgements (apart from those involving estimates) have been made in the process of aplying the above accounting policies.

Donated goods and services

No value is included in the financial statements in respect of the receipt of items donated to the museum and library collections. If items are donated for resale then the income from sale will be recognised at the point of sale. In accordance with Charities SORP (FRS 102) the time of volunteers is not recognised.

Allocation and apportionment of support costs

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Premises overheads have been allocated on floor area basis and other overheads have been allocated on estimated management time spent in support of the relevant activity.

Stock

Stocks are stated at the selling price less 50%.

Investments

Investments are made in various TMCP funds and recognised at the fund market value at balance sheet date. Current asset investments with TMCP are mainly short term highly liquid investments.

Cash

Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes. Cash on deposit with the Central Finance Board can normally be accessed within two working days' notice.

Debtors

Debtors are measured on initial recognition at settlement amount after any amounts advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

Creditors

The charity has creditors which are measured at settlement amounts.

15

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

2. Donations, Legacies	Unrestricted	Designated	Restricted	2021 Total	2020 Total
and Grants	£	£	£	£	£
Tax credits	1,606			1,606	1,559
Donations	8,427			8,427	73,316
Grants	111,925		129,946	241,871	208,192
Total	121,958	0	129,946	251,904	283,067

There were material grants received as follows: £69,711 for CJRS payments, £8,805 received from Bristol City Council, £93,080 of HLF funding, £20,000 Connexional grant funding, a £39,525 Methodist Church Heritage Sites grant and a £10,000 Methodist Church (Bristol District) grant.

3. Charitable activities	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Fund raising	4,707			4,707	9,156
Museum,Tours etc	3,688			3,688	12,072
Education Activities	297			297	2,608
5 Charles St Rent	27,600			27,600	26,668
Total	36,292	0	0	36,292	50,504

4. Other trading activities	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Shop	6,992			6,992	14,677
Café	24,317			24,317	74,322
Lettings	4,430			4,430	14,565
Total	35,739	0	0	35,739	103,564

5. Investment income	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Central Finance Board & TMCP	4,530			4,530	7,425
Total	4,530	0	0	4,530	7,425

6. Other	Unrestricted	Designated	Restricted	2021 Total	2020 Total
	£	£	£	£	£
Other Income	2,305			2,305	2,151
Total	2,305	0	0	2,305	2,151

16

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

7. Analysis of expenditure on Raising Funds	Activities undertaken directly		Support Costs	Total
2020-21	£		£	£
Shop	16,087		5,403	21,490
Café	64,694		17,572	82,266
Fundraisingofficer	2,033		0	2,033
	82,814		22,975	105,789
2019-20
Shop	19,552		3,670	23,222
Café	83,550		12,583	96,133
	103,102		16,253	119,355

8. Analysis of expenditure on Charitable Activities	Activities undertaken directly	Grant Funding of Activities	Support Costs	Total
2020-21	£	£	£	£
Museum & Collections	53,971		19,451	73,422
Education & CommunityEngagement	97,598		12,624	110,222
Other	46,177		30,829	77,006
	197,746	0	62,904	260,650
2019-20
Museum & Collections	51,122		17,297	68,419
Education & Community Engagement	83,901		9,436	93,337
Other	47,683		30,397	78,080
	182,706	0	57,130	239,836

9. Allocation of Support Costs	Governance	Office Costs	Property Running Costs	Total
2020-21	£	£	£	£
RaisingFunds - Shop	235	3,802	1,366	5,403
- Café	705	11,405	5,462	17,572
Charitable Activities - Museum & Collections	470	7,603	11,378	19,451
- Education & CommunityEngagement	470	7,603	4,551	12,624
- Other	470	7,603	22,756	30,829
Total Support Costs	2,350	38,016	45,513	85,879
2019-20
Raising Funds - Shop	220	1,878	1,572	3,670
- Café	660	5,635	6,288	12,583
Charitable Activities - Museum & Collections	440	3,756	13,101	17,297
- Education & Community Engagement	440	3,756	5,240	9,436
- Other	440	3,756	26,201	30,397
Total Support Costs	2,200	18,781	52,402	73,383

17

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

10. Independent Examiner's/Auditor's Remuneration

Amounts payable to the independent examiner comprise £2,200 + VAT ( 2020: £2,200 + VAT) for the independent examination and £1,650 + VAT (2020: £nil) for accounts preparation. There was also £701 + VAT (2020: £2,594 + VAT) for accounting advice.

11. Trustees' Remuneration and benefits

There was no Trustees' remuneration for the year ended 31st August 2021. ( 2020: £ nil )

	2020-21	2019-20
Number of trustees who were paid expenses	0	3
Nature of the expenses : Travel Expenses
Total amount paid	£0	£254

The total employment benefits, including national insurance and pension contributions, of the key management personnel were £ 45,244 ( 2020: £43,681 ).

	2020-21	2019-20
12. Staff Costs	£	£
Gross wages, salaries and benefits in kind	188,099	182,698
Employer’s National Insurance costs	16,403	15,520
Pension costs	11,714	11,717
Total staff costs	216,216	209,935

Of these staff costs, £51,061 relate to Raising Funds and £165,155 to Charitable Activities and have been included in Activities Undertaken Directly in notes 7 and 8.

Average number of	staff employed during the year were:	8	9
Average number of	full time equivalent staff employed:	7	7

No employees received total emoluments of more than £60,000

13. Pension Benefits

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the year was £ 11,714 ( 2020: £11,717 ).

Pension costs are allocated to activities based on estimated time to support the relevant activity and are recognised in the general fund and development fund as appropriate.

18

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

14. Volunteers Note

The volunteers at the New Room are a critical part of its operation and, without them, the site could not function. There are a wide variety of volunteering opportunities at the New Room, ranging from chapel welcomers to café helpers, from trustees to collections volunteers. The time that volunteers give to the New Room enable it to remain open to visitors six days a week and there is a wide range of activity that is delivered across the site during 300+ days of opening in a normal year. During 2020-21 opening has been significantly curtailed due to the Government's coronavirus restrictions. the The volunteers are supported in the respective roles by individual staff team members and training is provided to develop specific knowledge and skill sets.

15. Tangible Fixed Assets

No valuation is attached to tangible fixed assets. The trustees act only as managing trustees for the premises which belong to the Methodist Connexion. For insurance purposes the chapel and visitor centre and Charles Street premises and contents are valued at £7,068,694 ( 2020 £6,810,656 ).

16. Investments

TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

Analysis of investment movements	2020-21	2019-20
	£	£
Carrying (market) value at beginning of year	266,018	280,795
Investments disposed of in year	(62,036)	-
Net gain (loss) on revaluation	36,394	(14,777)
Carrying (market) value at end of year	240,376	266,018

These investments are managed by TMCP and held in the CFB Managed Equity Fund and shown at market value at the balance sheet date.

19

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

17. Analysis of other current assets		2020-21		2019-20
		£		£
Debtors andprepayments
Trade Debtors		2,670		556
Prepayments & Accrued Income		129,800		67,111
Other Debtors		1,030		337
Total Debtors andprepayments		133,500		68,004
Analysis of cash at bank
Bank balance(Bank of Scotland)		24,925		8,004
Bank balance(Central Finance Board)		216,964		268,630
Other		1,727		963
Total Cash at Bank		243,616		277,597

18. Current Asset Investments		2020-21		2019-20
		£		£
Trustees Interest Fund		105,006		105,017
Total		105,006		105,017
Investments are shown at market value at the balance sheet date.

19. Analysis of current liabilities		2020-21		2019-20
		£		£
Trade Creditors		12,943		4,958
Other Creditors		805		653
Taxation and Social Securitycosts		4,662		9,704
Accrued expenses		13,166		2,804
Total Current Liabilities		31,576		18,119

20. Related Party Transactions

There were unrestricted donations totalling £700 from trustees in the year to 31 August 2021 (2020: nil)

20

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

21. Detailed analysis of individual fund movements 2020/21

	Opening Balance £	Income £	Expenditure £	Transfers £	Revaluation gains (losses) £	Closing Balance £
Unrestricted Funds
General	251,131	200,824	191,421	37,126	1,501	299,161
Totals	251,131	200,824	191,421	37,126	1,501	299,161
Designated Funds
Major Repairs	26,313					26,313
Broadmead Courtyard	9,510					9,510
Grants AwaitingApplication	60,000			(30,000)		30,000
Totals	95,823	0	0	(30,000)	0	65,823
Restricted Funds
Development	61,702	129,946	184,522	(7,126)		0
Chapel Appeal and Maintenance	167,228				(1,176)	166,052
Totals	228,930	129,946	184,522	(7,126)	(1,176)	166,052
Endowment Funds
Gift of C C Posnett	87,125				23,413	110,538
Various Bequests	47,094				12,656	59,750
Totals	134,219	0	0	0	36,069	170,288

A material transfer of £30,000 was made from the Grants Awaiting Application Fund to the General Fund, to go towards expenditure in the 2020-21 year.

Fund purposes

Major Repairs Fund : For major repairs and maintenance of both The New Room and 4-5 Charles Street. Broadmead Courtyard Fund : For ongoing development and maintenance of the Broadmead Courtyard. Grants awaiting application: Grants received in advance for expenditure in 2020-21 and 2021-22. Development Fund : For HLF project costs relating to the new building in the Horsefair Courtyard. Chapel Appeal and Maintenance: For use in maintaining and improving the premises.

21

The New Room/John Wesley's Chapel Year ended 31st August 2021 Notes to the accounts

21. Detailed analysis of individual fund movements (comparative) 2019/20

	Opening Balance £	Income £	Expenditure £	Transfers £	Revaluation gains (losses) £	Closing Balance £
Unrestricted Funds
General	162,005	334,638	214,589	(30,000)	(923)	251,131
Totals	162,005	334,638	214,589	(30,000)	(923)	251,131
Designated Funds
Major Repairs	26,313					26,313
Broadmead Courtyard	9,510					9,510
Grants awaiting application	30,000			30,000		60,000
Totals	65,823	0	0	30,000	0	95,823
Restricted Funds
Development	94,231	112,073	144,602			61,702
Chapel Appeal and Maintenance	166,653				575	167,228
Totals	260,884	112,073	144,602	0	575	228,930
Endowment Funds
Gift of C C Posnett	96,491				(9,366)	87,125
Various Bequests	52,156				(5,062)	47,094
Totals	148,647	0	0	0	(14,428)	134,219

22. Analysis of assets between funds (comparative) 2019/20

Fund Name Totals Fixed assets Other current assets Cash and current investments Liabilities - Creditors (due in under 1 year)	Unrestricted Funds £	Designated Funds £	Restricted Funds £	Endowment Funds £	Total £
	0	0	131,799	134,219	266,018
	236,345	95,823	50,446	0	382,614
	32,905	0	46,685	0	79,590
	(18,119)	0	0	0	(18,119)
	251,131	95,823	228,930	134,219	710,103

22

Independent Examiner's Report to the Trustees of The New Room/John Wesley's Chapel

Independent examiner's report to the trustees of The New Room/John Wesley's Chapel

I report to the charity trustees on my examination of the accounts of The New Room/John Wesley's Chapel for the year ended 31 August 2021.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form 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 have no concerns, other than the matter set out below, 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 accounts to be reached.

Matter of concern identified

The trustees' view on the impact of Covid-19 is disclosed in the Trustees’ Report and accounting policies note. However, not all future events or conditions can be predicted. The Covid-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity.

Geoffrey SpeirsFCA Haines Watts Chartered Accountants Bath House 6-8 Bath Street Bristol BS1 6HL

29 March 2022

Independent Examiner's Report to the Trustees of The New Room/John Wesley's Chapel

Independent examiner's report to the trustees of The New Room/John Wesley's Chapel

I report to the charity trustees on my examination of the accounts of The New Room/John Wesley's Chapel for the year ended 31 August 2021.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form 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 have no concerns, other than the matter set out below, 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 accounts to be reached.

Matter of concern identified

The trustees' view on the impact of Covid-19 is disclosed in the Trustees’ Report and accounting policies note. However, not all future events or conditions can be predicted. The Covid-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the charity.

Geoffrey SpeirsFCA Haines Watts Chartered Accountants Bath House 6-8 Bath Street Bristol BS1 6HL

29 March 2022