Charity registration nujnber: 1137980 Methodist Central Hall, Manchester knoiyn as Methodist Central Buildings Managemen¢ Committee (MCBMC) Annual Report and Financial Statements for the Year Ended 31 August 2024
Methodist Central Hall, Manchester Contents Reference and Administrative Details I to2 Tru5tees' Report 3106 Statement of Trustees, Responsibilities Independent Exaininerfs Report Stateineiit of Financial Aclivilies Balance Sheet io Casli Flow SIAlement Notes lo the Financial Statenients 12to22
Methodist Central Hall, Manchester Reference and Administrative Details Trustees Laura CamRII noiv Vare Malcoln) P¢arson (resigned 31 Aiigust 2024) David Pickles Rev Ian Ruiherford Rev Caroline Wickens Louise Wilkins Alethea Sioiv Rev Dr Raj Patta Deacon Jennifer Jones (appointed 4 Septeinber 2023) Tim Willis, Building Manager Senloi. MRnAgenieJit Team Pi'lnelpAI Office Central Buildings Oldl)ain Street Manchester Ml IJQ 1137980 ClIAI'lty Registratioii Number Solicitors BLM Laiy King's Holis¢ 42 King Sireei Wesl Manchester M3 2NU BAiiker5 HSBC Bank plc 2-4 St Ann's Sqiiare Manchester M2 7HD Unity Triist Bank PIC PO Box 7193 Plan¢l8ry Road Willenhall WVI 9DG Ini'estment Mniiagei Ceiitral Finance Board of Ihe Methodist Chiirch 9 Boiiliill Slreet Londoii EC2A 4PE liidepeiideiit Examiiier Helen Binns FCA Beever and Struihers One Express l George Leigh Street Maiichester M4 SDL Page I
Methodist Central Hall, Manchester Reference and Administrative Details Propei'ty Services Longden and Cook Commercial Victoria Buildings 9-13 Silver Str¢el Bury Manchester BL9 OEU Page 2
Methodist Central Hall, Manchester Trustees, Report Tlie trustees present the annual r¢port together ii'iih the financial statements of the charity for the year ended 31 Aiigust 2024. ClIArltAble obJeetlves And aetivitles Piibll¢ beiiefil Methodist Central Hall, Manchester ("MCHM") seeks to projnole, facililale and assist ivith the ivork and pui'poses of the Meihodisl Church for the advanceinent of ihe Christian failli. In order to achieve these objectives, MCHM aiiiis to niaintain sound finaiices and good property Inanagenient, Tlie Trustees confirin that they liave coniplied ivith the reqiiireii)enls of seclion 4 of the Charities Act 2011 lo have diie regard to tlie public b¢n¢fit 811idaiice. Tlie Trustees believe that by proiiioling and supporting the iyork of the Meihodist Chiirch al Cential Biiildings. MCHM lielps lo promote the ivhole Inission of th¢ Chiirch Inore effectively* at local, Circuit and Connexional level, and that in doing so it provides a b¢ii¢fit to the public by (l) providing facilities for public ivorship, pasioral care and spiritiial, moral aiid intellecliial development, both for its members and for anyone ivho ivishes to benefjt frniii ivhal the Church offers: and (2) proiiioting Christian values aiid service by i)ieinbers of the Chiirch to the benefit of individiials and societyi as a whole. Tlie trustees confirin that Iliey have coinplied iviih Ihe requireinenls of section 4 of the Charities Act 201 I to have dLie regard to the piiblic benefit guidance published by th¢ charity Coiniiiission for Eiigland and WLtles. Piirposes aiidprliielpftl iielliillles Thc purposes for ivhich th¢ bliilding is l)eld incliide the local purposes of the local Churcli, tlie Circiiit piirposes of the Circiiit and the Coiinexional PUTposes of the Connexional Trustees. l-he biiildings are occiipied by earh of these Chiirch Bodies and by the Triislces for Methodist Chiirch Purposes ("TMCP"). In addition, certain retail, otrice and meeting hall space iviihin ihe buildiftgs is lei to third parties. These accoiinls deal iviih this ienlal income, the salaries and wages of staff einployed in inaiiaging and running Ihe buildings, and the preinises and oilier costs not related to ihe space occupied by tlie Cl)iirch Bodies. Slriicliirep ¥oiiernfiiice oiid inqiiugeiiieiil Diii'ing the 202312024 year, there ivas only oiie resigiiation iyhich ivas that at Mr Malcolm Pearson (Ti'easiirer). Deacoii Jenny Jones aiid Mr David Pickles look on the r¢sponsibilili¢s of this role oli a telp01'ary basis froin I sl Septeiiiber 2024 witli the Treasurer role to be advertised and filled during 2025. MCHM are Managing Tr(Istees of the property and legal iitle to Central Buildiiig5 is vested in TMCP as custodian Inislees. Tlie custodian Inislees, ii,ho hold tille lo Central Biiildings in triisl for MCEIM, do iiol gel involved in ihe day-lo-day iiianagement of the property. tliis is ihe responsibility of MCHM, MCIIM is required, by the terms of the Inodcl trLisls, to seek TMCP'S coiisent before granliI)g or reneiving leases and, acco1ngIy, TMCP'S Legal team review all proposed coinlnercial lettings ii'ilhin C¢ntral Buildings, to eiisiir¢ that these are coiisistent ivith all relevaiit laivs (including Charity laiv) and ivith th¢ Constitutional Practice and Discipline ("CPD") of Ilie Methodist Chiirch. and to e115ure that the Managing Trustees ivould iiot be in breach of ti'ust. As managing Triistees of Central Buildingsy MCHM operates ivithin the Melhodist Chiirch Connexion and as such their governii)g document is CPD. The docuinent is available for inspe¢lioii at Centi71 Hall, Oldhain Slreet, Manchester Ml IJQ. Page 3
Methodist Central Hall, Manehester Trustee5' Report The MCHM board consists of individuals inforinally nominated by Church Bodies, acting as individiials, and co-opted pi-ofessionals iyho collectively are the Trustees of the charity. When a vacancy in the charity trustee board is idenlified, a skills gap analysis is undertaken to ascertain identify suitable candidates fi'oin iyithin the Methodist Chiirch iyho iiiight be considered for co-option. Tlie Truslees ivill consider the skills and altribiite of the candidate(s) so identified and have aiithority to Inake appointiiients as appropriate. This appoinliiient process miiiiinises the need for fori)ial induction procedures. Trustees serve MCHM as voliiiileers and receive no payment for tlieir service. A sub-coinniillee of Trustees, Ivho are sitiiated ivithin ihe locality of the Chai'ity, coinmonly referred to a5 the Operational Manageinent Group (OMG), Ivas appointed in 2020 to deal ivitl) day to day oversiglil and Inanageiment ivithin agreed liinits of authority. The Board revieivs on a regular basis all decisions iiiade by the OMG. Meetings of the Trustees are attended by Tim Willis (Building Maiiager), Karen Attaivay, (Stakeholder & Cominiinications Manager) and Stephen Hetherington (Director of Property Support). AeliievenJei)Is aiid performaiice Use of Ihe biiilding is noiv at the level pre-covtd, Ivith most of tlie regular bookings noiv liaving returned. 'Mosaic' continiies to be iitilised by a ivide range of groiip5 and organisalions for their social jiislice ivork. Along ivith the Breakfasl Project run by our charity partner Lif¢share, Mosaic is being used for drop in and advice sessions, iyorship, coi)Iinunity groups, and sober gigs. The incoine from the retail Iinits has r¢tnained consistent, Ivilh all the retailers noiv having paid back the arreai's from th¢ covid pandemic. This longer-temi payback iyas agreed io ensiire that the businesses I'eiiiained viable foi. tli¢ long lerin. The Trustee5 Colltinue to receive regular repons from tlie Ministry Teain oil Ihe mission and iiiinistiy ivoi'k Ivl)ich eitianafes froin and iviihin Central Buildings, This includes a number of ivorsliipping Congregations, city cenlre ivilne5s, befriending, involveiiient iviih the local auihorilies and aclion netivorks, hoineles5ness response, iiiigrant supporl and oilier areas involving social justice. Civic, ecuinenical, and interfaiih links reiT)ain stroiig thanks to the ivork of tl)e City Centr¢ Minister, Revd lan Ruiherford. Links ivith ihe local Circuil, Life5hare. and a i)Iimber of organisations ivorking ivith refiJgee5 are being made stroiigei. by Ilie ivork of11)e Deacon for Cenlral HHII, Deacon Jenny Jones. The online and coiiiinunicalions ivork of ihe Stakel)older and Coininiini¢alioi)s Manager conliniies lo build, as do the niiiiiber of organisations and groups looking to iise Mosaic foi. the meetings and aetivili¢s. The Ii'ustees l)ave continued to develop detailed plans for a significant redevelopinent of Centi'al Biiildings to expand tlie nLiinber of spaces available for Ihission. iniprove the usability of the preiiiises by its iiiany users and to address environihental and ecoi)oinic Silslainability. Fliithneial review Rlsk M8llngeni¢nt The charity's aclivities expose it to a ntimber of flnancial risks including credit risk, cash floiv risk and Itquidity I'tsk. The use of financial derivatives is governed by tli¢ charity's policies approved by th¢ board of trustees Ivhicl) provide ivritten principles on the use of flnancial derivalives to manage these A'isks. The charity does not Iise derivative financial li)Stli)entS for speculative purpos¢5. The cliarity's aclivilies expose it priiiiarily io the financial risks of changes in exchange rates. ljiterest bearing assets and liabilities are held at red rate, subject to the Bank of England excl)ange Tate fluctuations, lo ensiire certainty of cash floivs. Page 4
Methodist Central Hall, Manchester Trllslees, Report Th¢ charity's principal financial assels are bank balances cash, trade and oiher receivables and investinents. An alloiyance for iinpairinent is made ivhere Ihere is an identified loss evenl which, based on pi'evious expei'ience, is evidence of a reduction in ihe recoverability of the cash floivs. Tl)e credit risk on liquid fiinds and derivative finaiicial instruments is limited because ihe counlerparties are banks iviih high credit ratings assigned by international credil-rating agencies. In order to Inaintain liqiiidity to ensiire Ihal sufficieni funds are available for ongoing operations and future developments, the charity iises a mixtiire of long-term and short-lerjn debi finance. PJ'incipAI funding sourees Tlie biilk of the charitys incoinc derives from the letting of space ivithin ihe biiilding> both Contracthal and '¢asual'. Incoine for the year ainoiinled to £528k compared ivith £529k ihe pr¢vioiis year, a decrease of 0,250/0 coinpared to an iiicrease of 80/r> in the previous year. Reserves The InAjor costs facing ihe Charity are in respect of ihe maintenance and upkeep ofthe property in order to fiilfil the cl)arttable objectives. MCIIM has iherefore establi5h¢d a designated property reserve, as detailed beloiv, iii order to i)ieet the costs of inajor repairs. In addilron, MCHM consider5 il Appi'opriale to hold SU[Clent free reserves (unrestricted funds not invested in fixed ass¢ls or olhcrivisc designaled) equal to six iiionlhs operating costs (excluding scheduled repairs) iji order to m¢el any shortfalls caused by tenancy voids or oll)er unforeseen ¢ir¢uinslan¢es. Al 31 st Aiigust 2024, the unrestricted funds totalled £2,967k (2023: £2,865k), Deducting fj.xed assets (Net book valiie £267k) and inve5tiiient property {£2,195k) (2023: £1,912k) leaves free reserves of £505k (2023., £682k). Designated Property Fiind In vieiv of tlie inherent iincertainty in predicting the extent and tiii)ing of significant repair expenditure. the Triistees resolved to designale lip lo £250,000 of unreslricled fund reserves so as to provide the financial ineans to respond in a tiiiiely inanner ivhen major repair expenditure is desirable. Th¢ Trustees revieiv anniial repair expendiliire and if inajor individiial c051 ¢lemenls are incurred (Iisually Inore Ihan £20,000) consider ivhelhei. these c051s shoiild be Jnet froin Ihe designated fiind balance rather Ihan froin iiildesignated Itserves. Tlie Fund balance lias been ii)aintained at £250,000 pending a revieii, of the slate of repair of the building. Payiiients for dilapidations are laken as income directly to th¢ Designated Property Fund and ihe rclated costs associated ivith the repairs are th¢n charged against the Fiind. Desigjialed Appoiiitiiients Fund Recognising the positive iinpact of the appoilinent of Rev laii Ruiherford as a fiill lime ]lnISter based at Cenli'al Biiildings Ilige triistees hav¢ SOlVed to desigiiate fiinds lo alloiv conliniiation of the exisling grant SLlPPOrt till Aiigu5t 2026. Iiy addition tliey have designated funds to provide a grant toivards the costs of the Dipconal Appointment based at Central Buildings again till Aiigust 2026. The fiinds ciirrently designated ainount to £200k. Page 5
Methodist Central Hall, Manchester Trustees, Report Cui'i'ent Needs Future Plans MCHM continiies lo pursue its hvin aims of Inaintaining sound finances and good property Inanageinent. Siifficiellt fiindiiig is available to nieet rouline i)iaintcnance costs. and ihe ciirrent and futtire needs of the Church Bodies are alivays Under revieiv. The need to iiiainlain good levels of incotne froii) cominercial and sl)ort-terin lettings is a constant fociis, and there is a clear underslanding of the relationship behyeen the Conditioii and quality of tlie space being offered to third parties and Ihe den)and for that space. The redevelopiiient ivill address 11 of the above iiiatters and folloiving the receipi of outline planning perniission tlie trustees are Inoving forivard Ivitli final design. Collaboj'atioii wilh olher ¢hArlties In addition to providing office and ivorship space for TMCP and The Meihodisl Ceiitre congregation respectively. MCHM also provides the base for 3 number of olher organisalions iyith a focus on Social Jiistice. Four of tlie key charities are Grealer Manchester Coiiimunity Chaplaincy, Woiiien Asyluni Seekers Togethei., Migrant Support, And Lifeshai'e. These organisations conlinue to develop Iheii. provision froin MCHM and boih are looking to extend ¢h¢ir provision to iliake a grealer iinpact in their respeclive areas of Social Jusiice. FliiHiieial R¢poi't The year undei. revieiv saiy a rise in fiind balances froin £2.8611110 £2.96m, alloiving Ilie Trustees lo agr¢e to tlie Int)intenance of level of fiinding of the Property Reserve and also an addition lo tlie Appointments Resei've as iioled above. With the ongoing increase in the ainount received froin lellings and conlinii¢d carefiil control of the expenditiire Ihe total incoiile for the year exceeded lolal expendilure by £69k coinpared lo a deficit of £23k in the previoiis year. In tlie ciirreni year iY¢ recognised gains on oiir investii)enl assels of £33k ¢oinpared lo a Ios5 of £19k in the previous year. This Ineanl lh¢ final oiilcome for the yeai. Ivas a surplus of £102k coiiipai'ed to & deficit of£42k in the previous year. Tlie Triigiees continLie to seek to improve incoine leve15 of botli conimercial and inlcrior space and to conti'ol reiii Hrrc8rs, Ivliilst keeping i'epair and inaintenance ivork up to date diid conlrolling expendiliii'e ivh¢i¢ver possible. Oiir thanks and gratitude ar¢ expressed to Tin) Willis and his staff, Ivho coiitinue lo display diligence alongside Iheir hard ivoi'k. their conlribiition to the results shoivn in these accoiints is greatly appreciated. Tlie lliinual repoit iyas approved by ihe Inistees of the charity on 23 Jiine 2025 and signed on its behalf by.. Deacon Jenni Triist¢¢ Jones Page 6
Methodist CentrAI Hall, Mancliester Stateinent of Tru5tees' Responsibilities Tlie ti'iistees are responsible for preparing the trustees, report and the fmancial stateinents in accordance ivith the United Kiijgdoii) Acrounling Standards (United Kingdom Generally Accepted Accounling Practice) and applicable laiv and regiilalions. The laiv applicable lo charities requires Ilie Iruslees lo prepare financial stateti)ents for each finailcial year which give a true aiid fair vieiv of the stale of affairs of ihe cliarity dnd of the incoining resource5 and applicalion of r¢sourc¢s of the charity for that period. In preparing these financial stalements, the trustees are reqiiired to: select suitable accounting polici¢s and then apply thein consislenily" observe the inelhods and prlnciples in the Charities SORP; Inake judgetiients and estimates that are reasonable and prudent: state ivhether applicable accounting standards have been folloived, subject to any material deparleS disclosed and explained in the fJnan¢ial slat¢menls' and prepare tli¢ financial stateinents on the going concern basis unless it is inappropriate to pr¢siiine that the charity ivill continue tn business. Tlie trusiees are responsible for keeping proper accoiinting Tecords tliat disclose ii'illi reasonable acciiracy at any iiine Ilie financial position of tlie charity and enable them to ensure Il)al the financi31 stateiiienls coii)ply ivith the Cliai'itie5 Aci 2011, the applicable Charilies (Accounts and Reporis) Regiilalions, and the pi'ovisions of the conslilution. The trustees are also responsible for safeguarding the assets of the charity and hence for laking reasonable sleps for the prevcntion and deleclioii of fraud and other irregularities. Approved by the trustees of the charity on 23 June 2025 and signed on ils behalf by: Deacon Jen TrLislee r Jones Page 7
Methodist Central Hall, Manchester Independent Examiner's Report to the trustees of Methodist Central Hall, Manchestei. I repoj't on the accounts of ihe charity for the year ended 31 Augiist 2024 ivhich are set out on pages 9 to 22. Respectii'e respoiislbillties o( trustees aiid examiner The trustees are responsible for the preparation of the accoiinls. The truslee5 consider Ihat an aiidit is rtot reqiiired for this year under seciion 144(2) of the Charities Act 2011 {Ihe 201 l Act) and tliat an independent examii)ation is needed. The charitys gross income exceeded £250.000 and l am qualified lo undertnke the e,¥aminalion by being a qualified niember of Chartered Accountants. It is iny responsibility to: exainine the accouiits under section 145 of the 201 l Act. lo folloiv the procedures laid doiyn in the general Directions gtven by the Charity Cointnission under section 145(5)(b) of the 201 l Act. and to state wlietlier parliciilar Inatters have coine to my altention. Bllsls of iiidepeiiilent eianiiner's report My exaininalion iyas carried oiit in accordance iviih ihe general Direclions given by the Charity Coiniiiission. An eNaiiiination includes a revieiy of the ac¢ounling records kept by the charity and a compai'ison of the accouiits presented iviih Ihose records. 11 also incliides consideration of any unusual iteins or discI0511res iii tlie accoui)ts, and seeking explanations froin you as trustees concerning any siich iiiatters. Tlle procedure5 undertaken do not provide all the evidence thal iyould be reqiiired in an audit and conseqlienlly no opiiiion is given as to ivheiher the accounts present a 'true and fair vieiv, and the report is liillited to Ihose Inatters sel oiil in the next statement. liidependeiit exaiiiljier's statement In connection iviih Iny eAaniinalion, no iiialler has coine lo my attention: ( l) iyliich gives Ine reasonable cause to believe that in any Inaterial respect the requireinents.. to keep accounting records in accordance iviih section 130 of the Charities Act 201 I. and to prepare accounls ivhicl) accord ivilh the accounting records and coinply iyith the accounting requireiiienls of the 201 l Act have iiot been met. or (2) to ivhicli, in my opinion, attention shoiild be draivn in order to enable a proper iinderstanding of the accounts to be l'eached. Helen Binns FCA Beever and Striilhers Charlcrcd Accoiiiitants Oiie Express l G¢oi'ge Leigh Street Manchester M4 5DL 23 June 2025 Page 8
Methodist Central Hall, Manchester Statement of Financial Activities for the Year Ended 31 August 2024 Unrestricled funds Tolal 2024 Total 2023 Note liieonie nnd EndoM'mei)ts froni.. Charitable aclivities Otlier trading aclivities Investment income 62,465 211,374 253,740 62,465 211,374 253,740 62,218 208,515 258,229 Total Income 527,579 527,579 528,962 Expenditui'e on: Chai'ilabl¢ artivilies 432,089) (432,089 (551,871 Tothl Expenditiire Gaiiisl(losses} oil inveslinent assets 432,089 33,229 432,089) 33,229 551,871) (19,049) Net iiioveiiient in fiind5 128,719 128,719 (41,958) Reeonclll&tlon of funds Total fiinds brought forivard 2,864,651 2.864,651 2,906.609 Total fiinds cai'ried forivard 15 2,993,370 2,993,370 2,864,651 All of the cl)arity's activities derive frojn continiiing operations during the above hvo periods. The prior year Stateinent of Financial Activities is shoivn on page 22. Page 9
Methodist Central Hall, Manchester (Registration number: 1137980) Balanee Sheet as at 31 August 2024 2024 2023 Note Fixed assets Tangible a5sels Inv¢stiiients 10 266,518 2,719,292 2,985,810 271,299 2,656,352 2,927,651 Curr¢iit assets Debtors Cash al bank aiid in haiid 12 52,690 31,210 28,114 69,023 83,900 97,137 Credfjtors: Amoullts ftslliiig wltliin one yeftr Nel current asselsl(liAbllltl¢s) 13 60,090> (113,887) 23,810 (16,750 Totnl assets less ciirrenl Il&blli¢les 3,009,620 2,910,901 Credltoi's: Ainouiils fAllliig due aftej. niore than one year Net Assets 14 (16,250 {46,250 2.993,370 2,864.651 Fuiids of the ¢liarity: Uiirestrlcled iiiconie fiinds Unrestricted ftinds 2,993,370 2,864,651 Total funds 15 2,993,370 2,864,651 The financiiil slatcincnts on pages 9 to 22 ivere approved by tlie triistees, and aiithorised for issue on 23 Jiine 2025 and signed 011 Ilieir behalf by., acon Jenni TrLlStee er Jones Page 10
Methodist Central Hall, Manchester Cash Flom. Statement for the Yeai. Ended 31 August 2024 2024 2023 Note CAsh flom's froiii operAtillg Attivltles Nel cash inroine/{expenditure) 128,719 (41,958) Adjuslments to ¢a5h flows fi'oni non-efish items Depreciation Investiiieiil iiicoine Revaluation of inve5tinenls 4,781 (24,095) 33,229) 5,069 (22,064) 19,048 (39.905) 76,176 Worklng capital adjuslmeiils Increase in debtors (Deci'ease)/inci'ease in creditors 12 13 (24,576) 83,798) (240) 33,440 Net casl) floiys froin operating activities (32,198) 6,705) CHsh flows from iiiveslliig acllvltles Intei'est receivable and siii)ilar income Purcl)ase of investments Incoiiie froin dividends 11,121 (29,711) 12,975 8,833 (170,375) 13,232 Net cash floivs fiDii) iiivesling activities 5,615 (148,310 Net decrease in cash and casli equivalents Cash and cash eqiiivalenls at I September Cash and cash eqLiivalenlS at 31 August {37,813) 69,023 (155,015) 224,038 31,210 69,023 All of tlie cash floivs are derived from continuing operations during the above ttvo periods. Pagell
Methodist Central Hall, Manehester Notes to the Financial Statements for the Year Ended 31 August 2024 l A¢coiintlllg policies Statement (If eoiiipliNiice Tlie financial slaleinenls have been prepared in accordance ivith Accounling and Reporting by Charities,. Sialeinenl of Recommended Practice applicable to charities preparing Iheir accounts in accordance iviih tlie Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019> - (Cliarities SORP (FRS 102)). the Finaiicial Reporting Staiidard applicable in the UK and Republic or Irelaiid (FRS 102) and the Cl)ariti¢s Act 201 Basis of prepaj'ation Meihodisl Cenli'al Hall, Mancliester meets tl)e definition of a public beiiefil enlity under FRS 102, Assets and liabilities al'e initially I'ecogiiised at historical cost or Iransaclion value unless oilieriyise stated in Ilie relevant accoiinling policy notes. Goliig eoiicerii The Ti'iislees liave revieived the circiim51an¢es of MCHM And are satisfled Iliere are ad¢qiiale resoui'ces available to fund ils aclivilies for Ihc fore5ceable future. Having carefully considered all pertinent Inatters they have concliided tlial the charity has adeqii¢ile free reserves and ¢aii be vicii'ed as a 8oi1)g concern. Incoiiie llnd endowmenls Income is incliided ivhen it becomes receivable, except ivliere they relate io future accouiiiin8 periods. In these cases, the incoii)e is deferred unlil the fiiture period. liiveslnigiil liicoiiie Fixed asset invesiimenls are a forin of baslc financial inslrunjent and are initially recorded ai their transaction valiie and subseqiienily ineasured at their fair value as al (lie balance sheei date using the closing quoted n)ai'ket price. The SOFA includes the net gains aiid losses arisiiig on revalualion and on disposals ihrolighoul the year. Gaiiis and losses are taken to the Stateiiient of Financial Activities as they arise. Realised gains and losses ftre calciilated as the difference betiveen sale procecd5 (nel of Iransactioii costs) and the opeiiing carrying value or cost, if acqiiired during the year. Unrealised gains and losses are calciilated on tlie differ¢iice betiyeen opening aiid Closing fair valiies. Expeiidlliii'e In the fii'st instanc¢, cosls are directly allocaled ivhere possible to costs of generating fiind5 or governance. Reniaining costs are then apportioned according lo relevaiii floor areas ivithin the building> beliyeen costs for geiierating incoine througli rental of iini15, and costs of providing charitable accoininodation. Cljfiriliible acili,Illes Charitable expenditlllT coinprises those costs incurred by the cliarity in the delivery of its activilies and sei'vices for its bei)eficiarie5. 11 includes both cosls thal can be allocated directly to siich activities aiid those costs of an indirect nature necessary to support them. Graiilprovlsloiis Provisions for grants are Anade ivhen the intention lo make a granl has been coirniiunicated to the J'ecipi¢n¢ bul there is uncertainty about either the ttiiiÉng of the gtant or ihe ainounl of grant payable. Page 12
Methodist Central Hall, Manchester Notes to the Financial Statements for the Year Ended 31 August 2024 Support costs Support costs incliid¢ central fiincttons and have been allocated to activity cosl categories on a basis con51Stent Ivith tlie iise of re50111res. for exaniple, allocating property costs by floor areas. or per capila, staff costs by the lime spent and otljer c051s by their usage. Gosiernance costs Tl)ese incliide the costs attribLilable lo the charity's coimpliance iviih coiislitiilional and statutory requii'ements, including aiidit, strategic Inanageinent and tnislees's ineetings and reimbursed ¢xpenses. Taxatloii Tlie cliarity is coiisidered to pass the tests set out in Paragraph I Schedule 6 of lh¢ Finance Aci 2010 and th¢r¢fore it i)ieels the definition of a charitable company for UK COTpoiation tox purposes. Accordingly? the cliarily is potentially exeii)pi froin laxation in respect of incojhe or Capital gains received ivitliin categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of ilie Taxation of Cliargeabl¢ Gaii)s Act 1992, to Ihe extent Ihal such income oi, gains are applied exclusively lo charilable Plirposes. Tiiiglble fixed A55et$ TanLviblc assets consist of capitalised plant and ina¢hTnery iyhich is deprecial¢d over 10 years fi'ojn date of coiniiiission. Furniture and equipjiient is depreciated over 4 years froji) firsi full year of oii'nersliip on a straighl.line basis iviih a residual valiie of l Oi/lo. The land and buildings are considered to be an inveslmenl and are incliided at valiiation by property consiillants Roger Hannah & Co, Chartered Siirveyors. as at 31 August 2015. Depj'eeiation And Aniortlsatlon Deprecialion is provided on tangibl¢ fixed assets so as to iyrite off ilie Cost or valualion, less any esliinaled resffidual value, over th¢ir expected iiseful e¢onoini¢ lif¢ as folloivs: Asset cliss Land & BiiildiThgs Plant & Macliinery Fui'nitiire & EqLllPlI)ent Depreelalion niethod ntid rate 100 years sttraighl line l O >sears straighl line 4 years straight line + IOO/o residual value Inve5tineiit pi'operties Investnienl propert), is carried at fair valiie, derived from tlie cUrt inarket prices for coinparable real estate deteriiiined aniiu8lly by external valuers. The voliiers use observable inarkei prices, adju5tcd if necessary for any difference in the nalure, location or condition of th¢ spectfic asset. Changes in fair value are re¢ogni5ed in profit or loss. Fixed asset iiivestinents Fixed asset investmenls, other than programme related investmeiits, are included Al market value al the balance sheet date. Realised gains and losses oi) inveslnients are ealculaled as the difference betsi'een sales pro¢¢eds and tlieii. mai'ket value at the start of the year, or their siibsequent cost, and are charged or credited to the Slat¢inent of Financial Activities in the period of disposal. Unrealised gain5 and 1055es represent t]ie moveinent in market values during the year )d are ci'edit¢d or charged to the Statement of Financial Activities based on th¢ market value al the year end. Page 13
Methodist Central Hall, Manchester Notes to the Financial Statements for the Year Ended 31 August 2024 Cash and cash equivalents Casli and cash eqLiivalenls coinprise casli in hand and call deposits. and oiher short-tenn highly liquid investineiils that are readily converlible to a knoivn ainount of cash and are subject to an insignificant I'isk of chang¢ in value. Fuiid structure The Managing Triisiees are responsible for the manageinent of Cenlral Buildings, Oldhant Street, Manchestei.. All funds ai'c for iise by ihe Managing Trustees in Ilial activity. They have de5ignaled certain fui)ds As piopety fui)ds for repair of Ihe biiildings. DeslgiiAted fiinds Nortnally, a transfer is made annually froin ihe gen¢ral fund to a designated propety reserve fui)d, in order to fiind majoi, repairs, excepi in years ivhere tnajor repairs are carried oiii and Iransfers are then iiiade lo general fiinds in respect of the ¢xpenditiire incurred. Pellslons and other post retiremeiit obligfillons Tlie cliarity provides a groiip personal pension plan under the autoiiialic enrolii)enl regLilations. Fliiftiicial inslrumeiits Tlie cl)arity ha5 only basic financial instruments ivliich are inilially recorded al cost, and ivilh the exception of invesliiienls (as set out above) subsequenily Ineasured al iheir sellleiiienl valiie, 2 Incoiiie from chai'llable activities Unrestrlcted funds Tolal 2024 Total 2023 General TMCP conti'ibiition toiyards staffing, accomniodation and related expenses 62.465 62,465 3 Incoine froni other trHdliig activities Unre5trieted funds Total 2024 Tot&1 2023 Generydl Rooin hire 211,374 211,374 208,515 211,374 211,374 208,515 Page 14
Methodist Central Hall, Manehester Notes to the Financial Statements for the Year Ended 31 August 2024 4 Ini'estnienl iiicome Unrestrieted riinds Total 2024 Total 2023 General Dividends Interest Rental incoine 12.975 11,121 229,644 253,740 12,975 11,121 229.644 13,232 8,833 236,164 253,740 258,229 5 Expenditiii'e on eli*rltAble activities Unresti'icted funds Totftl 2024 Total 2023 Gerieral Property costs Staff cosls Depi'eciation Governance costs Siippoi't Costs 150,353 219,777 4,781 4,546 52,632 150,353 219,777 4,781 4,546 52,632 178,126 193,468 5,069 4,610 170,598 432,089 432,089 551,871 Se¢ iiole 6 for split of support costs atid governance costs Page 15
Methodist Central Hall, Manehester Notes to the Financial Statements for the Year Ended 31 August 2024 6 Aiialysis of support costs CharltAble nelivities expeiidilure Unrestricted fuiids Total 2024 Total 2023 General otTice costs Telephone Bank charges Travel Legal and professional costs 17,990 12,030 637 2,662 14,767 17,990 12,030 637 2,662 14,767 9,459 11,937 1,137 3,565 139,890 48,086 48,086 165,988 Gov¢i'n8nce eosls Uiirestricted funds Tolal 2024 Tolal 2023 General Independent examiner fees Exaihinatioii of the financial stateinenls Olh¢r fees paid to exaininers 1,300 3,246 1,300 3,246 1,300 3,310 4,610 4.546 4,546 7 Net iiiconiliigloiilgoing resources Net inconiingloLlt80ing resoui'ces for the year include-. 2024 2023 Independent examiner's fees Depreriation of fixed assets ,300 4,781 ,300 5,069 Page 16
Methodist Central Hall, Manchester Notes to the Financial Statements for the Year Ended 31 August 2024 8 Staff c051s The aggregate payroll costs ivere as folloivs: 2024 2023 Staff eosts durliig the year were.. Wages and salaries Social seciirity Costs Pension costs 199,167 13,310 7,300 176,003 11,212 6,253 219,777 193,468 No ¢inployee reeeived emoluments of Inore than £60,000 during the year Ke), niHiiaEemeiit persoiijiel The key Inanageinenl personnel of lh¢ cljarity comprise the trustees and Iliose persons listed on page l. Tlie triiste¢s do not receive any reiniineration for their services. Ihe total remuneration benefit5 of the other iiieInbers of slfjff ar¢ listed beloiv. The lolal reii)unei'alion beiiefils ofthe key manageinent personnel of the charity iv¢re salary cosls of £49,3 84 (2023 - £46,097). The average niiinber of staff iyas as folloivs". 2024 Average iiuiiiber 2023 Ai'erage numbei. Staff 9 liidependent ei8miiiei s remuneration 2024 2023 Examiiiation of the financial stateiii¢nts 1,300 1,300 Olhei. fees to exAniliiers All otlier sei'vices 3,246 3,310 Pag¢ 17
Methodist Central Hall, Manchester Notes to the Financial Statements foi. the Year Ended 31 August 2024 10 Tangible fixed assets LAiid and buildings Furiiilure aiid equipment Plaiil & maelliiiery Tolnl Cost At I Septeinber 2023 253,000 152,512 658,668 1,064,180 At 31 August 2024 253,000 152,512 658,668 ,064.180 Depreclatlon Al I Septeinber 20?3 Cliarge foi, the year At 31 Aug115t 2024 Net book value 15,174 1,686 134,819 1,149 642,888 1,946 792.881 4,781 16,860 135.968 644,834 797,662 At 31 Aiigiist 2024 236,140 16,544 13,834 266,518 At 31 Aiigust 2023 237,826 17,693 15,780 271,299 I l Flxed assel investments 2024 2023 Investment pi'operties other iftvestinents 2,194,736 524,556 1,912,000 744,352 2,719,292 2,656,352 Page 18
Methodist Central Hall, Mancliester Notes to the Financial Statements for the Year EDded 31 August 2024 Iiivestiiiejit properties Investiiient pi"operlies Cosl oi. Vnlualion At I September 2023 Additions 1,912.000 282,736 At 31 Aiigust 2024 2,194,736 Provi51on At 31 Aiigust 2024 Net book value At 31 Aiigust 2024 At 31 Aiigust 2023 2,194,736 1,912,000 Olher iiii'estmeiits Otliej. Investineiits Cost or Valuatlon At I Septeinbei, 2023 Revaliiation Cash ivithdi'aivn 744,352 33,229 (253,025 At 31 Aiig11512024 524,556 Nel book value At 31 Augiist 2024 524,556 At 31 August 2023 744,352 12 Debtoi's 2024 2023 Prepaymenls Accriied income Other debtors 25,875 26,246 569 3,777 23,809 528 52.690 28,114 Page 19
Methodist Central Hall, Manchester Notes to the Financial Statements for the Year Ended 31 August 2024 13 Creditors: Aniounts falling due wilhin oiie year 2024 2023 Grants payable Creditoi's & accriials 29,999 30,091 36,000 77,887 60,090 113,887 14 Credltors: fimouiils fHlliiig due After one y¢8r 2024 2023 Graiits payable 16,250 46,250 15 Funds Balnnee Bnlaiice O¢heJ' at31 Seplember Incomliig Resources recognised August 2023 resourees expeiided Tran5fei's gninsl(losses) 2024 Genei'al 2,414,651 527,579 (432,089) 33,229 2,543,370 Deslgiialed Appointinenls fund Propety fiind 200,000 250,000 200,000 250,000 450,000 450,000 TolAI fuiiils 2,864,651 527,579 432,089 33,229 2,993,370 Balanee Ballliice Ollier At31 Septeniber fn¢omlng Resources recogiiised August 2022 resources expeiided Traiisfers g4iJ151(losses) 2023 Geiieral 2,426,609 528,962 (551,871) 30.000 (19,049) 2,414,651 Deslgiialed Appoiiltments fiind Property fuiid 230,000 250.000 (30.000) 200.000 250.000 480,000 (30,000) 450.000 TotAI funds 2,906,609 528,962 551,871) {19,049) 2,864,651 Page 20
Methodist Central Hall, Manchester Notes to the Financial Statements for the Yeai. nded 31 August 2024 The Propei'ty Fund has be¢n set up ivith a targel of £250k to ensiire thal adequatc funds are available to In¢et Inajor property repairs ivhich fall outside the scope of routine maintenance. The Appointineiits Fund has been set up to enable the coinn)ittee to consÉder Ilie continiialTon of grant siipport for presbyteral and diaconal staff associated ivith Cenlral Buildings This year additional support is proposed for the diaconal staff nieaning tivo posts are being siipported ivith both occiipaiiis invited lo serve lill 31 sl AiigEisI 2026. 16 Aiialysis of iiet hssets between funds Unrestricted fuiids General Total funds Tftngible fixed assets Fixed asset investiiienls Ciin'ent assets Ciirrent liabilities Creditors over l year 266,518 2,719,292 83,900 (60,090) 16,250) 266,518 2,719,292 83,900 (60,090) (16,250 Total net assets 2.993,370 2,993,370 17 Anolysls of Jiet funds Al I Septembei. 2023 At 31 August 2024 Cash flow Cash al bank and in hand 69.023 (37,813) 31,210 Net debt 69,023 (37,813) 31,210 18 Taxation The charit), 15 exeinpt from tax on incoiiie and gains falling iviiliin section 505 of tlie Taxes Act 1988 or seclion 252 of the TaAation of Chargeable Gains Act 1992 to ihe exteni that these are applied to ils charilable objects. 19 Related PArty trAJisactions Tliere iyere no related porty iransactions in Ilie year. Pag¢2l
Melhodist Central Hall, Manchester Notes to the Financial Statements for the Year Ended 31 August 2024 20 Compfirative Statement ofFinancial Activilies Uiire5trieled funds Total 2023 Inconie aiid Eiidownients froNI: Cliaritable activities Oilier trading activities Invesliiienl iiicoine 62,218 208,515 258.229 62,218 208,515 258,229 Total Incoiiie 528,962 528.962 Eypeiidilure oil: Charilable aclivilies 551,871) 551,871 Total Expenditure Gatnsllosses on invesli)ient assels (551,871 19,049) 551.871) 19,049 Nei Inoveinent in funds (41,958) (41,958> Recoii¢iliatloii of fuiids Toial funds brought forivard Total funds carried forivard 2,906,609 2,906.609 2,864,651 2,864,651 Page 22