Digitally Signed Document Document ID: 01817F4F45CB54 ## Document Details |**Filename:**|JWNR - 2025 Accounts.pdf| |---|---| ||| |**Client of:**|Gravita| ## Signature Details |**Name:**|Geoff Gollop| |---|---| ||| |**Email:**|Gollopfamily@gmail.com| ||| |**Date & Time:**|29/06/2026 16:01:59 PM (BST)| ||| |**IP Address:**|86.131.145.142| ||| |**Signing Statement:**|Geoff Gollop agrees and approves the contents of
this document.| |**Name:**|Clifford Friend| |---|---| ||| |**Email:**|clifford.friend@btinternet.com| ||| |**Date & Time:**|29/06/2026 15:56:55 PM (BST)| ||| |**IP Address:**|81.159.89.206| ||| |**Signing Statement:**|Clifford Friend agrees and approves the contents of
this document.| Digitally Signed Document Document ID: 01817F4F45CB54 ## Digital Certificate The approved PDF file has been digitally certified.Please check the Digital Certificate information in your PDF viewer to verify the Digital Certificate authenticity and the PDF has not been tampered with. |**On behalf of:**|Gravita| |---|---| ||| |**PDF digital certificate:**|IRIS Software Group Limited| ||| |**Digital certificate issued by:**|GlobalSign| Please keep a copy of this document for your records. **Charity Registration** 1137957 ## **THE NEW ROOM / JOHN WESLEY’S CHAPEL** **TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st AUGUST 2025** ## **The New Room / John Wesley’s Chapel Year ended 31[st] August 2025 Contents Page** |1.|Trustee’s Annual Report|Pages 1-6| |---|---|---| |2.|Independent examiner’s report|Page 7| |3.|Statement of Financial Activities|Page 8| |4.|Balance Sheet|Page 9| |5.|Statement of Cashflows|Page 10| |6.|Notes to the accounts|Pages 11-21| **The New Room/John Wesley's Chapel Year ended 31st August 2025 Trustees' Annual Report** ## **Charity Reference and Administrative Details** |**Charity Registration No**|1137957| |---|---| |**Key management personnel: Trustees and Directors**|| |**Trustees**|Prof Clifford Friend (appointed chair 1 September 2024)| ||Rev Marcus Torchon (appointed 1 September 2024)| ||Ms Jane Allin| ||Rev Josette Crane (resigned February 2025)| ||Rev Ivan Fowler| ||Mr Geoffrey Gollop OBE| ||Rev Dr Jonathan Hustler| ||Rev Sharon Lovelock (appointed 3rdJuly 2024)| ||Mrs Linda Jones| ||Rev Anthony Ward Jones (resigned 25 February 2026)| ||Rev Teddy Kalongo| ||Mr Michael Rose| ||Mrs Aroona Smith MBE DL (resigned 7thApril 2025)| ||Rev David Weeks| ||Rev Martin Wellings| |**Directors**|Ms Louise Wratten (maternity leave April 2025)| ||Ms Miranda Payne (appointed May 2025)| |**Registered office**|36 The Horsefair| ||Bristol| ||BS1 3JE| |**Independent Examiner**|Gravita
Chartered Accountants| ||2ndFloor South| ||One Castle Park| ||Bristol| ||BS2 0JA| |**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| 1 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Trustees' Annual Report** Central Buildings, Oldham Street Manchester M1 1JQ The Trustees present their report and the financial statements of the charity for the year ended 31st August 2025. 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** _Our aim is to be:_ - _widely acknowledged as the holder of significant Wesleyan heritage, brought to life for social impact_ - _a welcoming oasis built on a foundation of faith_ - _a key community hub, embedded in Bristol, but with local, national and international reach_ The Trustees are responsible to the Methodist Church for maintaining John Wesley’s New Room and Charles Wesley’s House, and promoting these as heritage sites, a community facility, educational resource, and cultural venue in Bristol. This involves: - a. setting a vision and mission for John Wesley’s New Room and Charles Wesley’s House; - b. overseeing the property, finances, staffing, volunteers, events and all matters pertaining to the work of John Wesley’s New Room and Charles Wesley’s House, ensuring the Trust complies with charity law and other relevant legislation. - c. using our historic collection and other resources to bring to life the story and legacy of the Wesleys, and offering a space for curiosity, reflection, and enjoyment to all; - d. maintaining John Wesley’s New Room as a place of worship, prayer and spiritual refreshment and for concerts, recitals, celebrations, and other appropriate events; - e. maintaining John Wesley’s New Room and Preachers’ Rooms as an accredited Museum and heritage site highlighting the role of the Wesleys and their links with Bristol; - f. maintaining Charles Wesley’s House in a manner indicative of its use by his family, with a focus on his contribution to hymnody and the musical achievements of his sons; - g. maintaining an archive and library for public use focused on eighteenth century Methodism and the history of Methodism in Bristol and its surrounding area; - h. engaging with the local community through educational and other activities, and through our café. ## **Fundraising Standards Information** Much of the charity’s income is derived from: 1. museum visitors; 2. surpluses from the café, shop and commercial letting of facilities; 2 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Trustees' Annual Report** 3. donation boxes within John Wesley’s New Room and Charles Wesley’s House; 4. other activities for which there is a charge. Other fundraising agreed by the Trustees includes; - a. Volunteers acting as ‘ambassadors’ to identify and encourage potential donors in both Britain and overseas (principally USA and South Korea); - b. Work by the Friends of the New Room in fundraising through: - i) applications for grants to trusts and other organisations; ii) organising events; iii) encouraging individuals to give regular gift-aided donations; - d. Seeking financial support through information in leaflets and via our website. Trustees believe the Trust is compliant with proper fundraising standards. In particular it is made clear to all those involved in fundraising that no undue pressure must be placed on anyone to give money or other property and that Trustees will not permit any fundraising activity that might be judged to be an unreasonable intrusion on a person’s privacy or be unreasonably persistent or unreasonable to anyone who might be judged to be vulnerable. All money raised is processed via the Finance Officer and there are strict guidelines regulating the handling of monies. The Trustees oversee compliance with these regulations. There have been no complaints received about the charity’s fundraising 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** John Wesley’s New Room consists of a Grade I listed chapel and preachers’ rooms museum exploring the history of Methodism and issues of social justice, and a cobbled courtyard garden. The adjacent visitor centre, funded by National Lottery Heritage Fund (NLHF), consists of a café and gift shop, a library and archive, offices, and meeting rooms. Through the historic collection and other resources, the New Room aims to bring to life the story and legacy of the Wesleys, offering space for curiosity, reflection, and enjoyment to all. It continues to be open to visitors six days a week (Monday to Saturday) with seasonal opening times at Christmas, Easter, and Bank Holidays. It is the most visited Methodist heritage site in the UK, welcoming over 41,000 visitors in 2024-25. Particular successes over this period include a range of temporary exhibitions, ongoing provision of 3 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Trustees' Annual Report** educational activity with schools and communities, developing overseas visitors to the museum (especially from the US and South Korea) and continuing a seasonal programme of community and commercial events to generate income and engage new audiences. Volunteering is a key part of New Room’s success and there is a continued focus on expanding numbers to support the size of the operation. There are a wide range of volunteering opportunities available including hospitality, retail, events, and museum collections, as well as placements for students. In partnership with creativeShift CIC, the New Room developed creative volunteering opportunities for young people through a funded community project entitled ‘Reaching In, Reaching Out’ and the successfully funded follow up project, Creative Reach, from September 2024 - March 2025. We are also developing successful collaborations linked with the redevelopment of the Broadmead area of Bristol, through which we have hosted and provided a variety of activities in partnership with Bristol BID and SPARKS. We have endeavoured to continue our successes whilst facing the challenges of maintaining two heritage sites, but we have also encountered significant maintenance issues with our new build heritage centre due to ongoing problems with the quality of the build. The Trustees are seeking advice on solutions to these ongoing problems. ## **Financial Review** The main financial aim in this period was to break even on our day-to-day operational activities. We almost achieved this aim. However, as highlighted above in the Achievements and Performance section we faced significant challenges during the year under report due to the costs of maintaining the property; in terms of one-off costs and increased energy which resulted in a deficit for the year of £132k, reducing our general reserves to £277k at the end of the year. The Trustees recognise that there is a need to use its reserves in the short-term, and that a sustainable operating model can be established. The following section indicates the plans to establish a more sustainable operating model for the Trust’s activities. Monthly management accounts are prepared and monitored to ensure budget is maintained and the General Fund reserves level is considered adequate. 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. - The Methodist church has indicated that it will continue to support the operations of the New Room and as a result reserves and cash balances will be adequate to maintain the organisation for at least 12 months. The Trustees therefore consider it appropriate to adopt the going concern basis for preparation of its accounts, as detailed in note 1 to the financial statements. 4 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Trustees' Annual Report** ## **Plans for future periods** The ongoing property issues have absorbed too much senior staff time and resources. The Trustees therefore agreed the employment of an additional member of staff to assist in maintaining the operation of our main site. Trustees recognise that we must attract more visitors and customers for all our activities and that the forthcoming further pedestrianisation of the area around the New Room, and significant high-rise residential development, present both significant challenges and opportunities. As the oldest Methodist building in the world, John Wesley’s New Room occupies a unique position that will continue to attract visitors locally, nationally, and internationally. However, it is recognised that we will need to be more proactive in developing income streams both commercially and through grants and donations. The immediate ongoing issue is to identify the scale of funding required to maintain our heritage sites and ensure that the new build visitor centre is fit for purpose. Work is in hand to assess all that is required to achieve this. The Trustees recognise that this is a big responsibility and believe that it must be shared with the wider Methodist Church if it is to be successful. ## **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, with appointment confirmed by the Methodist Church at its annual Conference. Following ‘good practice’, the Trustees will move towards a new governance structure and revised committee structure from 1st September 2025, which will reduce the total number of trustees to eight. Trustees are normally required to be Methodists or come from a Methodist background and include nominations from the local Circuit, District, and Connexional levels of the Methodist Church. Each trustee is normally appointed for a period not exceeding six years, although persons can seek reappointment 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. The day-to-day operations of the Charity are overseen by the Operations Committee which meets monthly and reports directly to the Trustees. Its membership comprises the Chair of Trustees, Deputy Chair of Trustees, the Property Trustee, Treasurer, Executive Director and Deputy Director / Head of Collections. As of August 2025, the Executive Team consisted of eleven salaried roles: Director (F/T – maternity cover), Deputy Director / Head of Collections (F/T), Office Administrator (P/T), Marketing and Communications Officer (P/T), Community and Learning Officer (P/T), Catering Manager (F/T), three 5 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Trustees' Annual Report** Catering Assistants (P/T), Weekend Duty Manager (P/T) and Cleaner (P/T). These roles are funded either by New Room activities or grants from the Methodist Church at both national and district levels. In order to fulfil our objectives, over 51 active volunteers also contribute to the wide range of activities taking place at the New Room. ## **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 on 2026 and signed on its behalf by: Clifford Friend –Chair Geoff Gollop – Trustee 6 ## **The New Room / John Wesley’s Chapel Year ended 31[st] August 2025** ## **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 2025. ## **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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of ICAEW which is one of the listed bodies. 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 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. Matthew Bracher FCA Gravita Chartered Accountants 2[nd] Floor, South One Castle Park Tower Hill Bristol BS2 0JA 2026 7 ## **The New Room/John Wesley's Chapel** ## **Statement of Financial Activities (SOFA) for the year ended 31 August 2025** |**Notes to**
**the**
**accounts**
**Income**
Donations, legacies and grants
2
Charitable activities
3
Raising funds
4
Interest and investment income
5
Other
6
**Total income**
**Expenditure**
Raising funds
7
Charitable activities
8
**Total charitable expenditure**
Gains/(losses) on monetary investments
**Net income/(expenditure)**
Transfers between funds
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**
**_Income_**
_Donations, legacies and grants_
_2_
_Charitable activities_
_3_
_Raising funds_
_4_
_Interest and investment income_
_5_
_Other_
_6_
_Total income_
**_Expenditure_**
_Raising funds_
_7_
_Charitable activities_
_8_
_Other_
**_Total charitable expenditure_**
_Gains/(losses) on monetary investments_
**_Net income/(expenditure)_**
_Transfers between funds_
**_Net movement in funds_**
_Total funds brought forward_
**_Total funds carried forward_**
**_Comparative SOFA for the year ended 31 August_**|**General Fund**
**(Unrestricted)**
**Designated**
**Funds**
**(unrestricted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2024-25**
£
£
£
£
£
70,120 - 1,000 -**71,120**
43,815
- - -**43,815**
187,211
- - -**187,211**
66,978 - 1,754 2,430**71,162**
949
- - - **949**| |---|---| ||**369,073**
**-**
**2,754**
**2,430**
**374,257**| ||267,159
- - -
**267,159**
232,738
-1,347-
**234,085**| ||**499,897**
**- 1,347-**
**501,244**| ||(170)
- -
4,522
**4,352**| ||**(130,994)**
**-**
**1,407**
**6,952**
**(122,635)**
- - - - **-**| ||**(130,994)**
**-**
**1,407**
**6,952**
**(122,635)**
409,858
-
42,569
175,166
**627,593**| ||**278,864**
**-**
**43,976**
**182,118**
**504,958**| ||**_General Fund_**
**_(Unrestricted)_**
**_Designated_**
**_Funds_**
**_(unrestricted)_**
**_Restricted_**
**_Funds_**
**_Endowment_**
**_Funds_**
**_Total_**
**_2023-24_**
_£_
_£_
_£_
_£_
_£_
_414,330_
_-_
_-_
_-_
**_414,330_**
_32,002_
_- 6,000 -_
**_38,002_**
_178,706_
_- - -_
**_178,706_**
_71,196_
_- 2,129_
_3,448_
**_76,773_**
_3,849_
_---_
**_3,849_**
**_2024_**| ||**_700,083_**
**_-_**
**_8,129_**
**_3,448_**
**_711,660_**| ||_252,256_
_- - -_
**_252,256_**
_207,271_
_- 1,144 -_
**_208,415_**
_22-_
_115_
_442_
**_579_**| ||**_459,549_**
**_-_**
**_1,259_**
**_442_**
**_461,250_**| ||_348_
**_--_**
_19,788_
**_20,136_**| ||_240,882_
_-_
_6,870_
_22,794_
**_270,546_**
_19,309_
_-_
_(16,303)_
_(3,006)_
**_-_**| ||**_260,191_**
**_-_**
**_(9,433)_**
**_19,788_**
**_270,546_**
_149,667_
**_-_**
_52,002_
_155,378_
**_357,047_**| ||**_409,858_**
**_-_**
**_42,569_**
**_175,166_**
**_627,593_**| 8 ## **The New Room/John Wesley's Chapel** ## **Balance Sheet as at 31 August 2025** |**Notes to**
**the**
**accounts**
**Fixed assets**
Investments
15
**Total fixed assets**
**Current assets**
Shop stock
Debtors and prepayments
16
Investments with Trustees for
Methodist Church Purposes (TMCP) -
Short term
17
Central Finance Board (CFB) Deposits
16
Cash at bank and in hand
16
**Total current assets**
**Current liabilities**
Creditors (due in under 1 year)
18
**Total current liabilities**
**Net current assets/liabilities**
**Total assets less current liabilities**
**NET ASSETS**
**Funds of the New Room**
General Fund (Unrestricted)
20
Designated Funds (Unrestricted)
20
**Total Unrestricted Funds**
Restricted Funds
20
Endowment Funds
20
**TOTAL FUNDS**|**General Fund**
**(Unrestricted)**
**Designated**
**Funds**
**(Unrestricted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Totals**
**2025**
**_Totals_**
**_2024_**
£
£
£
£
£
_£_
4,886
- -
182,118
187,004
_182,652_| |---|---| ||**4,886**
**--**
**182,118**
**187,004**
**_182,652_**| ||8,588
- - -
8,588
_9,576_
12,546
- - -
12,546
_17,033_
- - 40,266 -
40,266
_40,266_
253,972 - - -
253,972
_105,961_
22,909
3,710
26,619
_297,356_| ||**298,015**
**-**
**43,976**
**-**
**341,991**
**_470,192_**| ||24,037
- -
24,037
_25,251_| ||**24,037**
**---**
**24,037**
**_25,251_**| ||**273,978**
**-**
**43,976**
**-**
**317,954**
**_444,941_**| ||**278,864**
**-**
**43,976**
**182,118**
**504,958**
**_627,593_**| ||| ||**278,864**
**-**
**43,976**
**182,118**
**504,958**
**_627,593_**| ||278,864
-
-
278,864
_409,858_
- - - - -
_-_| ||**278,864**
**- - -**
**278,864**
**_409,858_**
- -
43,976
-
43,976
_42,569_
- - -
182,118
182,118
_175,166_| ||**278,864**
**-**
**43,976**
**182,118**
**504,958**
**_627,593_**| The financial statements were approved by the board on Approved on behalf of the Board of Trustees _________________________________ ______________________________ Trustee Trustee The notes on pages 11 to 20 form part of these financial statements 9 ## **The New Room/John Wesley's Chapel** ## **Statement of Cash Flows** |_Note_
**Cash flow from operating activities**
_22_
**Cash flow from investing activities**
**Net cash flow from investing activities**
**Net increase/decrease in cash and cash equivalents**
**Cash and cash equivalents brought forward**
**Cash and cash equivalents carried forward**
**Cash and cash equivalents consist of;**
Central Finance Board (CFB) deposits
Cash at bank and in hand
Income from investments|**2025**
**_2024_**
**£**
**_£_**
**(194,876)**
_218,889_
**71,162**
_3,849_| |---|---| ||**71,162**
_3,849_
**(123,714)**
_222,738_
**403,317**
_180,579_| ||**279,603**
_403,317_| ||**253,972**
_105,961_
**26,619**
_297,356_| ||**280,591**
_403,317_| 10 ## **The New Room/John Wesley's Chapel Year ended 31st August 2025 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 Charity meets the definition of a public benefit entity under FRS 102. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. The accounts have been prepared on the assumption that the charity is able to continue as a going concern. 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 probable 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. Income from donations is recognised when there is evidence or entitlement to the gift, receipt is probable and its amount can be measured reliably. Income received in respect of goods and services is recognised upon the delivery of the good or service. Income received in advance of the provision of a specified service or goods is deferred until the criteria for income recognition are met. ## **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. ## **Volunteers** 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. The volunteers are supported in the respective roles by individual staff team members and training is provided to develop specific knowledge and skill sets. ## **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. Costs of raising funds relate to the costs incurred by the charity in encouraging third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Direct expenditure on charitable activities includes the costs that directly support the objects of the Charity ## **Redundancy and termination payments** Redundancy and termination costs are recognised as an expense in the Statement of Financial Activities and a liability on the Balance Sheet immediately at the point the charity is committed to terminate the employment of an employee or provide termination benefits as a result of an offer made in order to encourage voluntary redundancy. The charity is considered to be committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan. 11 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## **1. ACCOUNTING POLICIES (continued)** ## **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. Irrecoverable VAT is treated as a direct cost of the activity where it can be clearly identified. Irrecoverable VAT relating to costs that cannot be directly attributable is treated as a support cost , support services, and apportioned on estimated use. ## **Fund accounting** Unrestricted funds are incoming resources receivable or generated for the objects of the charity 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. ## **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. 12 ## **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## **1. ACCOUNTING POLICIES (continued)** ## **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. 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. Other support costs have been allocated on estimated management time spent in support of the relevant activity. ## **Stock** Stocks are stated at the selling price less 50%, which approximately represents the cost. ## **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** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. The charity has creditors which are measured at settlement amounts. 13 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## **2. Donations, legacies and grants** |**Unrestricted**
**Restricted**
**Endowment**
£
£
£
Donations
14,737
1,000
-
Gift aid
-
-
Grants
55,383
-
-
**Total**
**70,120**
**1,000**
**-**
Grants received, included in the above, are as follows:
Bristol City Council
the Methodist Church Fund
Methodist Connexion
Other
The Methodist Church (Heritage grants)
Methodist Church (Bristol District)|**Unrestricted**
**Restricted**
**Endowment**
£
£
£
14,737
1,000
-
-
-
55,383
-
-|**2025 Total**
Unrestricted
Restricted
Endowment
**£**
£
£
£
**15,737**
20,862
-
-
**-**
7,973
-
-
**55,383**
385,495
-
-|_2024 Total_
_£_
_20,862_
_7,973_
_385,495_| |---|---|---|---| ||**70,120**
**1,000**
**-**|**71,120**
414,330
-
-|_414,330_| |||**1,350**
**12,383**
**41,950**
**-**
**-**
**(300)**
**55,383**|_-_
_-_
_41,330_
_40,000_
_291,000_
_12,165_| ||||_384,495_| ## **3. Charitable activities** |**3. Charitable activities**|| |---|---| |Museum, tours etc
Education activities
Other
**Total**|**Unrestricted**
**Restricted**
**Endowment**
**2025 Total**
Unrestricted
Restricted
Endowment
_2024 Total_
£
£
£
**£**
£
£
£
_£_
34,335
-
-
**34,335**
25,020
- -
_25,020_
5,303
-
-
**5,303**
5,302
6,000
-
_11,302_
4,177
-
-
**4,177**
1,680
-
-
_1,680_| ||**43,815**
**-**
**-**
**43,815**
32,002
6,000
-
_38,002_| ## **4. Raising funds** |**4. Raising funds**|| |---|---| |Shop
Café
Commercial events
Venue hire and related catering
**Total**
**5. Investment income**
Central Finance Board & TMCP
5 Charles St
**Total**
**6. Other**
Other income
**Total**|**Unrestricted**
**Restricted**
**Endowment**
**2025 Total**
Unrestricted
Restricted
Endowment
_2024 Total_
£
£
£
**£**
£
£
£
_£_
20,052
-
-
**20,052**
_22,429_
_22,429_
131,138
-
-
**131,138**
_115,996_
_115,996_
7,261
-
-
**7,261**
_12,368_
_12,368_
28,760
-
-
**28,760**
_27,913_
_27,913_| ||**187,211**
**-**
**-**
**187,211**
_178,706_
_178,706_| ||**Unrestricted**
**Restricted**
**Endowment**
**2025 Total**
Unrestricted
Restricted
Endowment
_2024 Total_
£
£
£
**£**
£
£
£
_£_
13,230
1,754
2,430
**17,414**
6,477
2,129
3,448
_12,054_
53,748
-
-
**53,748**
_64,719_
_64,719_| ||**66,978**
**1,754**
**2,430**
**71,162**
71,196
2,129
3,448
76,773| ||**Unrestricted**
**Restricted**
**Endowment**
**2025 Total**
Unrestricted
Restricted
Endowment
_2024 Total_
£
£
£
**£**
£
£
£
_£_
949
-
-
**949**
3,849
- -
_3,849_| ||**949**
**-**
**-**
**949**
3,849
- -
_3,849_| 14 ## **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** |**The New Room/John Wesley's Chapel**
**Year ended 31st August 2025**
**Notes to the accounts**|| |---|---| |**2024-25**
Shop
Café
5 Charles Street
Other
_2023-24_
_Shop_
_Café_
_5 Charles Street_
_Other_
**7. Analysis of expenditure on raising funds**|£
£
£
18,300
15,821
**34,121**
113,812
67,772
**181,584**
25,923
13,364
**39,287**
12,167
-
**12,167**
**Activities**
**undertaken**
**directly**
**Support costs**
**Total**| ||**170,202**
**96,957**
**267,159**| ||_£_
_£_
_£_
_15,535_
_10,297_
_25,832_
_114,649_
_46,256_
_160,905_
_41,617_
_12,103_
_53,720_
_11,799_
_-_
_11,799_| ||_183,600_
_68,656_
_252,256_| ## **Activities** ## **8. Analysis of expenditure on charitable activities** ||**Activities**| |---|---| |**2024-25**
Museum & collections
Education & community engagement
Other
_2023-24_
_Museum & collections_
_Education & community engagement_
_Other_
**8. Analysis of expenditure on charitable activities**|£
£
**£**
53,835
89,816
**143,651**
41,251
40,246
**81,497**
93
8,844
**8,937**
**undertaken**
**directly**
**Total**
**Support costs**| ||**95,179**
**138,906**
**234,085**| ||_£_
_£_
_£_
_69,937_
_50,236_
_120,173_
_57,098_
_23,333_
_80,431_
_98_
_7,713_
_7,811_| ||_127,133_
_81,282_
_208,415_| ## **9. Allocation of support costs** |**2024-25**
Raising funds - Shop
- Café
- 5 Charles Street
Charitable activities - Museum & collections
- Education & community engagement
- Other
**Total support costs**
_2023-24_
_Raising funds - Shop_
_- Café_
_- 5 Charles Street_
_Charitable activities - Museum & collections_
_- Education & community engagement_
_- Other_
_Total support costs_|**Governance**
**Support**
**services**
**Property**
**running costs**
**Repairs &**
**maintenance**
**Total**
£
£
£
£
**£**
529
5,379
3,463
6,450
**15,821**
1,587
16,138
24,245
25,802
**67,772**
1,058
5,379
6,927
-
**13,364**
1,058
10,758
24,245
53,755
**89,816**
1,058
10,758
6,927
21,503
**40,246**
5,379
3,465
**8,844**| |---|---| ||**5,290**
**53,791**
**69,272**
**107,510**
**235,863**| ||_£_
_£_
_£_
_£_
_£_
_531_
_4,386_
_3,327_
_2,053_
_10,297_
_1,594_
_13,158_
_23,292_
_8,212_
_46,256_
_1,063_
_4,386_
_6,655_
_-_
_12,104_
_1,063_
_8,772_
_23,292_
_17,109_
_50,236_
_1,063_
_8,772_
_6,655_
_6,843_
_23,333_
_4,386_
_3,327_
_-_
_7,713_| ||_5,314_
_43,860_
_66,548_
_34,217_
_149,939_| 15 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## **10. Independent examiner's/Auditor's remuneration** Amounts payable to the independent examiner comprise £2,500 ( _2024: £2,360)_ for the independent examination and £2,726 (2024: £2,232) for other services. ## **11. Trustees' remuneration and benefits** There was no Trustees' remuneration for the year ended 31st August 2025 ( _2024: £nil_ ). ||**2024-25**|**_2023-24_**| |---|---|---| |Number of trustees who were paid expenses|1|_1_| |Nature of the expenses : Travel||| |Total amount paid|£370|_£253_| The total employment benefits, including national insurance and pension contributions, of the key management personnel were £53,689 ( _2024: £110,055)_ . |**12. Staff costs**
Gross wages, salaries and benefits in kind
Employer’s national insurance costs
Pension costs
Total staff costs|**2024-25**
**_2023-24_**
£
**_£_**
189,784
_221,239_
8,715
_13,725_
11,932
_11,726_
**210,431**
**_246,690_**| |---|---| Gross wages for 2024/25 includes redundancy payments amounting to £Nil (2024: £16,397) paid to one employee which has been allocated to raising funds and charitable activities in accordance with estimated time spent on these activities. There were no outstanding redundancy payments at the year end. Average number of staff employed during the year were: 11 _10_ 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 £11,932 ( _2024: £11,726_ ). At the year end £1,922 (2024: £1,088) was payable. 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. 16 **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## **14. 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. ## **15. 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. |Investments disposed of in year
**Analysis of investment movements**
Carrying (market) value at beginning of year
Net gain (loss) on revaluation
Carrying (market) value at end of year|**2024-25**
**£**
182,652
-
4,352
**187,004**|**_2023-24_**
**_£_**
_162,516_
_-_
_20,136_| |---|---|---| |||**_182,652_**| These investments are managed by TMCP and held in the CFB Managed Equity Fund and shown at market value at the balance sheet date. 17 ## **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** |**16. Analysis of other current assets**
**Debtors and prepayments**
Trade debtors
Other debtors
Prepayments and accrued income
**Total debtors and prepayments**
**Analysis of cash at bank**
Central Finance Board (CFB) Deposits
Cash at bank and in hand
**17. Current asset investments**
Trustees Interest Fund (TMCP)
**Total**
Investments are shown at market value at the balance sheet date.
**18. Analysis of current liabilities**
Trade creditors
Other creditors - pension costs
Taxation and social security costs
Accruals and deferred income
**Total current liabilities**
**Total cash at bank**|**2024-25**
_2023-24_
£
_£_
9,315
_3,607_
800
_1,263_
2,431
_12,163_| |---|---| ||**12,546**
_17,033_| ||253,972
_105,961_
26,619
_297,356_| ||**280,591**
_403,317_| ||**2024-25**
_2023-24_
£
_£_
40,266
_40,266_| ||**40,266**
_40,266_| ||**2024-25**
_2023-24_
£
_£_
5,575
_7,740_
1,922
_1,088_
11,261
_11,651_
5,279
_4,772_| ||**24,037**
_25,251_| ## **19. Related Party Transactions** There were no related party transactions to be disclosed. 18 ## **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## **20. Detailed analysis of individual fund movements 2024/25** ||**Opening**||||**Revaluation**|**Closing**| |---|---|---|---|---|---|---| ||**Balance**|**Income**|**Expenditure**|**Transfers**|**gains (losses)**|**Balance**| ||**£**|**£**|**£**|**£**|**£**|**£**| |**Unrestricted Funds**||||||| |General|409,858|369,073|(499,897)||(170)|278,864| |**Totals**|**409,858**|**369,073**|**(499,897)**|**-**|**(170)**|**278,864**| |**Designated Fund**||||||| |Major Repairs|-|-|-|-|-|-| |Broadmead Courtyard|-|-|-|-|-|-| |**Totals**|**-**|**-**|**-**|**-**|**-**|**-**| |**Restricted Funds**||||||| |Tippett Education|2,198|1,000|(1,347)|-|-|1,851| |Chapel Appeal and Maintenance|40,266|1,754|-|-|-|42,020| |Reaching In and Reaching Out Project RIRO)|105|-|-|-|-|105| |**Totals**|**42,569**|**2,754**|**(1,347)**|**-**|**-**|**43,976**| |**Endowment Funds**||||||| |Gift of C C Posnett|113,705|1,577|-|-|2,935|118,217| |Various Bequests|61,461|853|-|-|1,587|63,901| |**Totals**|**175,166**|**2,430**|-|-|**4,522**|**182,118**| |||||||| |Total funds|**627,593**|**374,257**|**(501,244)**|**-**|**4,352**|**504,958**| ## **Fund purposes** Major repairs: funds set aside by the trustees for future repairs. Broadmead Courtyard Fund : For ongoing development and maintenance of the Broadmead Courtyard. Tippett Education Fund: A grant received from another charity to enable children from lower income families to participate in school trips to the New Room. Chapel Appeal and Maintenance: For use in maintaining and improving the premises. Reaching In and Reaching Out Project: RIRO is a funded project that is being coordinated by Arts & Health South West (AHSW ) an arts and wellbeing initiative co-produced by John Wesley’s New Room, creativeShift CIC and young people aged 16-24. The project is for young people who may be more vulnerable after the pandemic. By exploring links between creativity, wellbeing, community engagement and volunteering, its aim is to boost their confidence and skills. Endowment funds reflect legacies where income is available for general fund purposes. 19 ## **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## _**20. Detailed analysis of individual fund movements 2023/24**_ |**_Unrestricted Funds_**
_General_
**_Totals_**
**_Designated Funds_**
_Major Repairs_
_Broadmead Courtyard_
**_Totals_**
**_Restricted Funds_**
_Tippett Education_
_Chapel Appeal and Maintenance_
_Reaching In and Reaching Out_
_Project_
**_Totals_**
**_Endowment Funds_**
_Gift of C C Posnett_
_Various Bequests_
**_Totals_**
_Total funds_|**_Opening_**
**_Balance_**
**_£_**
**_Income £_**
**_Expenditure_**
**_£_**
**_Transfers_**
**_£_**
**_Revaluation_**
**_gains (losses)_**
**_£_**
**_Closing_**
**_Balance_**
**_£_**
_149,667_
_700,083_
_(459,549)_
_19,309_
_348_
_409,858_| |---|---| ||**_149,667 700,083_**
**_(459,549)_**
**_19,309_**
**_348_**
**_409,858_**| ||_- -_
_-_
_-_
_-_
_-_
_--_
_-_
_-_
_-_
_-_| ||**_--_**
**_-_**
**_-_**
**_-_**
**_-_**| ||_2,633 -_
_-_
_(435)_
_-_
_2,198_
_40,266 2,129_
_(115)_
_(2,014)_
_- 40,266_
_9,103 6,000_
_(1,144)_
_(13,854)_
_- 105_| ||**_52,002_**
**_8,129_**
**_(1,259)_**
**_(16,303)_**
**_- 42,569_**| ||_100,860_
_2,238_
_(287)_
_(1,951)_
_12,845 113,705_
_54,518_
_1,210_
_(155)_
_(1,055)_
_6,943_
_61,461_| ||**_155,378_**
**_3,448_**
**_(442)_**
**_(3,006)_**
**_19,788_**
**_175,166_**| ||| ||**_357,047_**
**_711,660_**
**_(461,250)_**
**_-_**
**_20,136_**
**_627,593_**| ## 21. Analysis of assets between funds 2024/25 |**Fund Name**
Fixed assets
Cash and current investments
Other current assets
Liabilities - Creditors (due in under 1 year)|**Unrestricted**
**Funds £**
**Designated**
**Funds**
**£**
**Restricted**
**Funds £**
**Endowment**
**Funds**
**£**
**Total**
**£**
4,886
-
-
182,118 187,004
276,881
-
-
-
276,881
21,134
-
43,976
-
65,110
(24,037)
-
-
-
- 24,037.00| |---|---| ||**278,864- 43,976 182,118 504,958**| _Analysis of assets between funds comparatives 2023/24_ |**_Fund Name_**
_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_**
**_£_**
7,486
-
-
_175,166 182,652_
_401,014_
-
_42,569_
-
_443,583_
_26,609_
-
-
-
_26,609_
_(25,251)_
-
-
-
_(25,251)_| |---|---| ||**_409,858_**
**_- 42,569_**
**_175,166_**
**_627,593_**| 20 ## **The New Room/John Wesley's Chapel Year ended 31st August 2025 Notes to the accounts** ## **22. Reconciliation of net income/expenditure to net cash flow from operating activities** |Increase / (decrease) in creditors
**Net cash flow from operating activities**
Net income / (expenditure) for the year
(Gain)/losses on investments
Income from investments
(Increase) / decrease in debtors|**2025**
_2024_
**£**
_£_
**(122,635)**
_270,546_
**(4,352)**
_(20,136)_
**(71,162)**
_(3,849)_
**4,487**
_(8,471)_
**(1,214)**
_(19,201)_| |---|---| ||(194,876)
_218,889_| 21