Charity numb•r: 1138362 TRINITY CHURCH LEP GOSFORTH UNAUDITED CHURCH COUNCIL MEMBERS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
TRINITY CHURCH LEP GOSFORTH CONTENTS Page Refaronca and Administrative Detalls of the Charlty, Its Church councll mambèrs and Advisers Church councll members, Report Independent Exarnlnorfs Raport ststomont of Flnanclal Actlvltle8 Balance Sheot 10 Not88 to tha Flnanclal Statements 11-27
TRINITY CHURCH LEP GOSFORTH REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS CHURCH COUNCIL MEMBERS AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2024 Church councll members Geoff Blair, Finance Team (advisor)2 Andrew Carter, Deacon (resigned 31 July 2024)1,3,4 David Cowans, Finance team (advisor)14 Charles Fleming, Elected by AGM4 Carole Eke, Finance Team2,4 Monica Goldfinch, Secretary of Church Counci14 Rev Alex Mabbs, Ministry Team leader, Chair of counci1l,2,3,4 David Lowry, Elected by AGM4 Rosemary Menzies, Pastoral Team Leader1,3.4 Alan Nicholson, Treasurer and Chair of Trinity Centre Llmited1,2,3.4 Charles Parker, Elected by AGM4 Roger Pickard, Chair. Property Team2,4 Keith Stewart, Elected by AGM4 Peter Short, Senior Steward1,3,4 Rachel Taglione, Children and Family Worker1,3,4 Susan Thomson, Elected by AGM4 1 A member of the leadership team A member of the finance team 3 A member of the Ministry team 4 A member of the Church Council (Trustee) Charlty reglstered number 1138362 Prlnclpal offlco Trlnlty Church and Centre High Street Gosforth Newcasile upon Tyne NE3 4AG Accountants Ryecroft Glenton 32 Portland Terrace Newcastle upon Tyne NE2 IQP Page 1
TRINITY CHURCH LEP GOSFORTH CHURCH COUNCIL MEMBERS. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Church council members present their annual report together with the financial statements of the Trinity Church LEP Gosforth for the year 1 September 2023 to 31 August 2024. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Objectlves and actlvltles Pollcles and objectlves Trinity Church is committed to providing a vibrant centre of Christian worship and life for the community of Gosforth and to be a place of welcome, 7 days per week. to any who wish to come in. In setting objectives and plannlng for activitles, the Church council members have glven due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Publi benefit: running a charity (P82)'. Strategles for achlevlng objectlves Trinity Church, Centre and Cafe (known just as "Trinitl,) is open and a place of welcome each day. Apart from times of Sunday worship, the main entrance to the buildings and all activities is through the cafe, which is seen to be less-threatening to those unfamiliar with church. than a traditional church entrance. We welcome approximately 2,000 visitors from the local community per week. A Reception desk is staffed by volunte8rs when the building is open to the public. Our second building at South Gosforth is also available for use by community groups and worship is also held there. • Actlvltles undertaken to achlev• obJ6ctlv•8 Publlc worship Is held on Sunday mornings and midweek during Advent and Lent. In 2021 a Sunday afternoon Farsi speaking service commenced, and is still operating. Attendance at Sunday morning worship regularly exceeds 200, with a number of younger parents with children as part of the congregation. Festivals such as Christmas and Easter are marked by special additional services which have a "communi appeal (such as "Buggies and Babes. and Community Carol and Christingle services). There is a large number of Life (or Home) Groups which meet regularly, attended by over 100 members and non-members. Trinity Church and Centre provide a wide range of weekday activities for the church and wider community. These range from Parent and Toddler groups, children's and youth activities, craft groups, adult groups, to lunches for the elderly. Activities are provided by volunteers from the church and by external providers. Trinity Church has a Safeguarding Policy and all Trinity and non-Trinity workers with children or vulnerable adults have DBS disclosures. Trinity Cafe, known as Café 1901, provides food prepared on the premises and a welcoming area where members of the public gather to meet their friends and chat. In particular, Trinity cafe is knowrb for being 'wheelchair- and buggy-friendll,. When Reception is open. the church is available for private prayer. Page 2
TRINITY CHURCH LEP GOSFORTH CHURCH COUNCIL MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Objectives and activlties (contlnued) • Grant-making policles Grants to external organisations are agreed by the Finance Team and ratified by Church Council. Grants are made from general church funds and from offerings for specific purposes • Maln actlvlties undertaken to furthèr thè Charlty's purposes for the public beneflt Investments for special projecis and charity offerings are held in accordance with the policies of our national churches. The monies held on behalf of Trinity by the Methodist Church are invested with the Central Finance Board of the Methodist Church. Funds held locally are on deposit with Lloyds Bank plG. Bequests from former Methodist members are held and managed by the Trustees for Methodist Church Purposes and invested wilh the Methodist Church CFB. A¢hlevements and perforniance Revlew of actlvltles Activities organised by Trinity Church and Centre are under constant review by the relevant Team responsible. • Investment pollcy and perforniance During this year, local funds have been invested with the Methodist Church Central Finance Board and Lloyds Bank plc. Interest payable by the CF8 is gross of tax. Generally, performance by both CFB and Lloyds Bank plc has been weak. Flnanclal revlew Golng concern After making appropriate enqulries, the Church council members have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial stalements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Reserves poII¢y Apart from reserves held in restricted and dedicated funds, it is the pollcy of Trlnity Church to hold in reserves a sum not more than Ihat required to fund one yearfs expenditure. The balance of expendable unrestricted reserves at 31 August 2024 was £316,559 (2023 £279.047). Materlal Investments pollcy Trinity Church is open to the local community 7 days a week. Thus, our buildings and facilities are available for rent or use by various community activities, as well as church-sponsored activities (which are always open to non-members)- Trinity Church sees itself as a hub for the community and its central position on Gosforth High street provides an ideal opportunity to serve the community in this way. Page 3
TRINITY CHURCH LEP GOSFORTH CHURCH COUNCIL MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 • Prlncipal fundlng The principal source of funding of Trinity Church is the donations received from church members, many of which are tax-efficient, under Gift Aid. Additional funding, is raised by fund-raising events. • Trlnlty Square Following legal agreément with Newcastlé City Council. part of the adjoinlng road (West Avenue) and pavement was added to the Trinity Land in front of the church. in a development known as Trinity Square. Some of the trees were removed. with a replacement added (in December 2014, replaced In March 2016), and part of the grassed area paved in high quality granite. Seats, lighting and new notice boards were added. Trinity Square Is further resource for Trinity Church and Centre and for the community. structure, governance and management Constitutlon Trinity Church LEP Gosforth is a registered charity, number 1138362, and is constituted under a Trust deed. The principal obj8Ct of Trinity Church is to provide a place of Christian Worship and Witness for the people of Gosforth and its surrounding area. • Methods of appolntment or electlon of Church councll members The management of the Charity is the responsibility of the Church Council (Trustees), whose members ar8 elected by the Church Meeting, or COpted by Council, under the terms of the Trinity Church LEP Constitution. The Church Treasurer is elected by the Church Council. Members of the Leadership Team and Finance Team are appointed by Church Council to oversee the day-t(Hlay management of the charity and its finances. • Organlsatlonal structure and declslon-maklng poll¢lo8 Th& Church Council {Trustees} is the maln decision making body of Trinity Church. Trinity Is a large church of over 300 members and Church Council Is required, under the terms of its Constitution, to hold at least three Congregation {Members'} Meetings in addition to the Annual General Meeting each year. Much of the day-to- day management has now passed to the Ministry Team, which meets weekly. The members of the Staff Team are Rev Alex Mabbs (Ministry Team Leader), who replaced the retiring Rev Peter Holwell on 1 September 2021, Deacon Andrew Carter, Andrew Mason (Youth Worker) and Rachel Taglione (Children and family worker). The Minislry Team and the Trinity Centre Team now are meeting face to face. The former meet to ensure the running and pastoral care of the Church is maintained. the latter to ensure when the Centre can reopen following government guidelines. Pollcies adopted for the appolntment of the flnanc• team Members of the Finance Team have been appointed to bring various areas of expertise to the team. The team includes two accountants, rnembers working in business finance, members with experience in taxation and personnel and Gift Aid, and members familiar with the financial practices of the Methodist Church. Page 4
TRINITY CHURCH LEP GOSFORTH CHURCH COUNCIL MEMBERS, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Structure. governance and manag8ment (contlnued) • Related party rolatlonshlps Following the development of the buildings, completed in February 2008, a company. Trinity Centre Limited. was set up to run the cafe and mange use of the facilities, thus facilitating their use by a wide variety of community and visiting groups. From May, 2015, the café was outsourced to Olivia's Artisan Bakery. Olivia's withdrew in March 2018 and Caffé 1901 took on the lease from June 2018. Trinity Centre Ltd continues to manage the facilities and the hirers of the buildings. The chairman of Trinity Centre Limited is also appointed Hon Treasurer of Trinity Church and is a member of the Church Council (Irustee). The Finance Director of Trinity Centre Limited is a member of Ihe Church Finance Team. Rlsk management The Church Council members have assessed the major rlsks to which the charity is exposed, in particular those related lo the operalions and finances of the charity, and in the safeguarding of children, young people and vulnerable adults. and are satisfied that systems and procedures are in place to mitigate our exposure to major risks. All volunteers working with children and vulnerable adults have DBS clearance, and they and all church officials receive regular training provided by the Methodist Church of Great Britain. There is a local Safeguarding officer, who reports regularly to the Trustees,. the Trustees receive a full, detailed report and endorse the Safeguarding Policy annually in January. Th8 Safeguarding Officer is supported by a local and national network of the Methodist Church. There are public liability and trustees, liabillty insurances In place. Wlth the impact of Covid, both the Church and Trinity Centre undertook a risk assessment. and both are regularly reviewed to ensure robustness and effectiveness. Plans for future perlods It is expected that Trinity Square will be the focus of many church and community events. Already this area is used for events such as public Carol singing (with free mince pies), and our annual summer outreach event at which barbecued food is given, free of charge, to members of the local and working community. At the moment the Church is following government guidelines and so no public events are taking place. Funds hèld as custodlan Offerings received for particular charities are passed, in full and as quickly as reasonably possible, to the charilies concerned. Page 5
TRINITY CHURCH LEP GOSFORTH CHURCH COUNCIL MEMBERS. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Information on fundralsing practlc8S Trinity Church's main source of income is the voluntary gifts and donations of its members, much of which qualifies for enhancement under the HMRC Gift Aid scheme. Further income is received from lettings of rooms to external bodies and the majority of this revenue is administered by an associated company, Trinity Centre Limited. Current additional fundraising takes the form of monthly coffee mornings, which have a mainly social function. The Church does not employ a professional fundraiser. Statement of Church councll mambers. rnsponslbllltles The Church council members are responsible for preparing the Church council members, Report and the financial statements In accordance with applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Church councll members to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Church council members are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP {FRS 102). make judgements and accounting estimales that are reasonable and prudent; slate whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriat8 to presume that the Charity will continue in business. The Church council members are responsible for keeping adequate accounting records that are sufflclent to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable Ihem to ensure that the financial statements comply with the Charities Act 2011, the Charily (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hen for tsking reasonable steps for th8 prevention and deteclion of fraud and other irregularities. Approved by order of the members of the board of Church council members on 29 May 2025 and signed on their behalf by: Alan Nicholson Page 6
TRINITY CHURCH LEP GOSFORTH INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Independent Examinèrfs Report to the Church councll members of Trlnlty Church LEP Gosforth ('the Charity.) I report to the charity Church council members on my examination of the accounts of the Charity for the year ended 31 August 2024. Responslbllltles and Basls of Report As the Church council members of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the 2011 Act,). I report in respect of my examination of the Charitys accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commisslon under section 145(5)(b) of the 2011 Act. Ind•pendent Examlnerfs Statement Since the Charills gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW. which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charilies.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any materlal respect: accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act. or the accounts do not accord with those reGords', or the accounts do not comply wlth the appllcable requirements concerning the form and content of accounts set out in the Charilies {Accounts and Reports) Regulations 2008 other Ihan any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination. I have no concerns arbd 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. Page 7
TRINITY CHURCH LEP GOSFORTH INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 This report is made solely to the Chariws Church council members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charitys Church Gouncil members those matters l am required to state to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charit and the Charity's Church council members as a body, for my work or for this report. Signed: Jon Routledge Dated: 29 May 2025 FCA Ryecroft Glenton. 32 Portland Terrace, Newcastle upon Tyne NE2 1 QP Page 8
TRINITY CHURCH LEP GOSFORTH STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 Endowment funds 2024 Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total fvnds 2023 Note Income and endowments from: Donations and legacies Other trading activities Investments Other income 10,939 212,173 7,274 62,539 4,110 223,112 7,274 64,515 4,110 239.844 7, 948 43,606 6,330 1,881 95 Total Incom• and èndowments 1,881 11,034 286,096 299,011 297, 728 Expendlturo on: Charil8ble activities 12,391 253,188 265,579 273,452 Total expendltura 12,391 253,188 265,579 273,452 Net Incomel{expendlture 1.881 (1,357) 32,908 33,432 24,276 Transfers between funds 16 (1,881) 1,824 57 (1,974,341) Net movement In fund8 467 32,965 33,432 (1, 950, 065) Reconclllatlon of funds: Total funds brought forward Net movement in funds 37,610 2,555 3,135,830 3,175,995 5, 126.060 467 32,965 33,432 (1,950,065) Total funds carrled forward 37,610 3,022 3,168,795 3,209,427 3, 175,995 The Statement of Financial Activities includas all gains and losses recognised in the year. The notes on pages 11 to 27 form part of these financial statements. Page 9
TRINITY CHURCH LEP GOSFORTH BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 Note Flxed assets Tangible assets 12 2,852,236 2,856, 783 2,852,236 2,856, 783 Current assets Deblors Cash al bank and in hand 13 3,532 381,781 3,565 344,233 385,313 347, 798 Current Ilabllltles Creditors.. amounts falling due within one year 14 (5.622) (6,086) Not current assets 379.691 341, 712 Total assets less current Ilablllt108 3,231,927 3, 198,495 Creditors.. amounts falling due after more than one year 15 (22,500) (22,500) Totsl net assets 3,209,427 3, 175.995 Charlty funds Endowment funds Restricted funds Unrestricted funds 16 16 16 37,610 3,022 3,168,795 37,610 2.555 3, 135,830 Total funds 3,209.427 3. 175,995 The financial statements were approved and authorised for issue by the Church council members on 29 May 2025 and signed on their behalf by: Alan on The notes on pages 11 to 27 form part of these financial statements. Page 10
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 General Informatlon Trinity Church LEP Gosforth is a registered charity (number 1138362), is constituted under a Trust deed and operates from Trinity Church, High Street, Gosforth, Newcastle upon Tyne, NE3 4AG. Accountlng pollcles 2.1 Basls of preparatlon of flnanclal statements The financial statements 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 accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Aci 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required to provide a 'true and fair, view. This departure has involved following the Charities SORP IFRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Trinity Church LEP Gosforth meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Incomo All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. 2.3 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Page11
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policios (contlnued) 2.3 Expendltura {contlnued) Expenditure on charitable activities is incurred on directly undertaking the activities which further th8 Charity's objectives, as well as any associated support costs. All expenditure Is inclusive of irrecoverable VAT. 2.4 Inter•st recalvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity. this is normally upon notification of the Interest paid or payable by the Institution with whom the funds are deposited. 2.5 Tanglble flxed as8et8 and dopreclatlon Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a langible fix8d assel into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following bases.. Fraehold property Fixtures and fittings Office equipment 0. as no decrease In valu8 20 % straight line 200/0 Straight line 2.6 Debtors Trade and other debtors are recognised at the settlement arnount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.7 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.8 Liabllities Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Page 12
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Accounting policios {continu•d) 2.9 Flnancial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at Iheir settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.10 Penslons The Charlty operates a deflned contributSon pension scheme and th8 pension charge represents the amounts payable by the Church to the fund in respect of the year.. 2.11 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Church council members in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Church council members for particular purposes. The aim and use of each designated fund is set out in the not8S to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each r8Stricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund, Income from donatlons and legacles Restrlcted Unrastrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donations Church collections for external charities Grants 2,125 8.814 205,573 207,698 8,814 6,600 222,293 12,551 5.000 6,600 Total 2024 10,939 212,173 223,112 239, 844 Total 2023 14.857 224,987 239, 844 Page 13
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Income from other tradlng actlvltles Incomo from fundralslng events Unrastrlctod funds 2024 Total funds 2024 Total funds 2023 Fundraising 7,274 7,274 7,948 Total 2023 7,948 7.948 Inv08tment Income Endowment Restrlcted Unrestrlcted funds funds funds 2024 2024 2024 Total funds 2024 Total funds 2023 Property lettings and internal groups Int8rest receivable 49.708 12,831 49.708 14,807 34.682 8,924 1,881 95 1,881 95 62,539 64,515 43, 606 Total 2023 1, 193 54 42,359 43,606 other Incomlng resources Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Other income 4.110 4.110 6,330 Total 2023 6.330 6.330 Page 14
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysls of axpendlturn on charitable activities Summary by fund typ• Endowment Restrlcted Unrestrleted funds funds funds 2024 2024 2024 Total 2024 Total 2023 General fund Community Centre Bequests External collectlons Leaving collections Men's shed Flower fund Internal organisations 236,649 14,759 236,649 14,759 223,917 28,170 108 16,128 670 1.288 1,241 1,930 10,469 483 139 1.300 10,469 483 139 1,300 1,780 1,780 12,391 253,188 265,579 273,452 Tot812023 107 19,328 254,017 273,452 Page 15
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysls of axpenditure by activities Actlvltles undertaken dlrectly 2024 Support Costs 2024 Total funds 2024 Total funds 2023 General fund Community Centre Bequests External collectlons Leaving collections Men's shed Flower fund 217,158 13,728 19,491 1.031 236,649 14,759 223,917 28,170 108 16,128 670 1,288 1.241 1,930 10,469 483 139 10,469 483 139 1.300 1,780 1,300 1.780 Internal organisations 245,057 20,522 265,579 273,452 Total 2023 255.514 17,938 273.452 Page 16
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysls of axpendlture by activltles (continued) Analysls of dlract costs General Communlty fund Centre 2024 2024 Extemal Laavlng Bequests collectlon8 collections 2024 2024 2024 Staff costs 22,529 2,899 Methodist and URC assessments Preacher and Service expenses Office expenses utilities Repairs and maintenance Sundry expenses External collections Administration Staff collections 132,384 382 1,829 38,961 16.058 5,015 2,183 8.457 189 10,469 483 217,158 13,728 10,469 483 Tot812023 206,908 27,241 108 16,128 670 Page 17
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysis of expenditure by actlvltles (contlnued) Analysis of dlrect costs (contlnued) Total funds 2024 Total funds 2023 Men's shad Flowor fund 2024 2024 Internal 2024 Staff costs Methodist and URC assessments Preacher and Servlce expenses Other expenses utilities 25,428 30,833 139 1,300 133,823 382 145,065 535 3,823 21.193 28,337 8.822 16.128 108 670 1,829 41,144 24,515 6,984 10,469 Repairs and maintenance Sundry expenses Extemal collections Administration Staff collections 1,780 483 139 1,300 1,780 245,057 255.514 Total 2023 1,288 1,241 1,930 255,514 Page 18
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Analysls of 8XPgndlturo by activities (continued) Analysls of 8UPPOrt costs General Communlty fund Centre 2024 2024 Total funds 2024 Total funds 2023 Accountancy costs - governance Legal and professional fees - governance Insurance Sundry expenses Depreciation 5,515 2,712 6,291 426 4.547 5,515 2,712 7.322 426 4,547 5,994 1,031 6,941 457 4,546 19,491 1,031 20,522 17,938 Total 2023 17,009 929 17,938 Independent examlnar's remuneratlon 2024 2023 Fees payable to the Charity's Independent examiner for the preparatlon and independent examination of the Charlvs annual accounts 5,515 5,994 10. Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 22,829 1,327 1,272 28,070 1,259 1.564 25.428 30.833 Page 19
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 10. Staff costs (continued) The average number of persons employed by the Charity during the year was as follows: 2024 2023 No. Staff numbers No employee recelved remuneration amounting to more than £60,000 in either year. 11. Church councll members. remuneratlon and expenses During the year, no Church council members received any remuneration or other benefits (2023- £NIL). During the year ended 31 August 2024, no Church council member expenses have been incurred (2023- £NIL). 12. Tanglbla flxed assets Freehold Flxtures and property Ilttlngs Offlce •qulpment Total Cost or valuatlon At 1 September 2023 2,852,223 137,556 57,318 3,047.097 At 31 August 2024 2,852,223 137,556 57,318 3,047,097 Depreclatlon At 1 September 2023 Charge for the year 137,543 52,771 4,547 190,314 4.547 At 31 August 2024 137,543 57,318 194,861 Net book value At 31 August 2024 2,852,223 13 2,852,236 At 31 August 2023 2.852,223 13 4.547 2.856. 783 Page 20
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 12. Tanglble flxed assets (contlnued) The registered title to the property lies with the Trustees For Methodist Church Purposes, Central Buildings, Oldham Street, Manchester and not Trinity Church LEP Gosforth. The £2,852,223 cost shown relates to expenditure in connection with the Trinity Centre and Trinity Square projects from 2007 onwards. 13. Debtors 2024 2023 Due wlthln one year Prepayments and accrued Income 3,532 3,565 3,532 3,565 14. Credltors: Amounts falllng due wlthln one year 2024 2023 Accruals and deferred income 5,622 6,086 15. Crndltor8: Amounts falllng du• aftor more than one year 2024 2023 Other loans 22,500 22,500 Page 21
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16. Statement of funds Statement of funds - current year Balance at 1 Saptombèr 2023 Balance at 31 August 2024 Transfers Inlout Income Expendltura Unrestricted funds Doslgnated funds Community Centre Internal organisations Winter fuel allowance Legacy Dr Anne Graham 27.783 1,977 1.340 11,163 31,021 20,484 4,110 (14,759) (1,780) (5,6011 (2,980) 27,907 1,327 1,340 11.163 31,021 73,284 24,594 (16,539) 18,581) 72,758 General funds General Funds - all funds 3,062,546 261,502 (236,649) 8,638 3,096,037 Total Unrestrlcted fund8 3,135,830 286,096 (253,188) 57 3,168,795 Endowment funds Endowment Funds - all funds 37.610 1.881 (1,881) 37,610 Restrlcted funds Bequests External colleclions Leaving collections Isla fund Men's shed Flower fund 150 519 8.814 483 (180) 1,655 489 (10,469) (483) 1.441 345 76 95 1,517 301 715 (139) (1,300) 619 1.047 349 2.555 11,034 (12,391) 1,824 3,022 Total of funds 3,175,995 299,011 (265,579) 3,209,427 Statement of funds - prior year Page 22
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 16. Statement of funds (conllnued) Balance at I Septembar 2022 Balance at 31 Augusl 2023 Transfers in/oul Income Expenditure Unrestrlcted funds Deslgnated funds Community Centre Internal organisations Winter fuel allowance Legacy Dr Anne Graham 39,627 1,218 1,340 11,163 31,021 21,826 6.330 (28, 170) (1,930) (5, 500) (3,641) 27, 783 1,977 1.340 11,163 31,021 84, 369 28,156 (30, 100) (9, 141) 73, 284 Gengral funds General funds 5,000, 994 253,468 (223, 917) (1, 967, 999) 3, 062,546 Total Unrestrlcted funds 5, 085,363 281,624 (254,017) (1,977, 140) 3. 135.830 Endowment funds Endowment funds 3T,610 1,193 (107) (1, 086) 37,610 Restrlcted funds Bequests Exlemal collections 291 (1) (16, 128) (670) {146) 3,577 150 12.551 310 48 Leaving collections Isla fund Men's shed Flower fund 360 1.393 47 996 1,441 345 619 1,386 610 (1,288) (1, 241) 200 254 3.087 14,911 (19,328) 3, 885 2,555 Total of funds 5, 126,060 297, 728 (273,452) (1,974,341) 3, 175.995 Page 23
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 17. Summary of funds Summary of funds - current year Balance at 1 Septembar 2023 Balance at 31 August 2024 Transfers Inlout Incomo Expondltur8 Designated funds General funds Endowment funds Restricted funds 73.284 3,062,546 37,610 2.555 24,594 261,502 1,881 11,034 (16,539) {236,649) (8,581) 8,638 (1,881) 1,824 72,758 3,096,037 37.610 3,022 (12,391) 3,175,995 299,011 (265,579) 3,209,427 Summary of funds . prlor year Balance 81 I September 2022 Balance a¢ 31 Augusl 2023 Transfers in/oul InGome Expenditure Designated funds General funds Endowment funds Restricted funds 84,369 5, 000,994 37,610 3,087 28,156 253,468 1. 193 14,911 (30. 100) (9. 141) 73,284 (223,917) (1, 967,999) 3,062.546 (107) (1, 086) 37,610 (19,328) 3,885 2.555 5, 126,060 297, 728 (273, 452) (1, 974, 341) 3, 175.995 Page 24
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 18. Summary of funds (continuad) Deslgnatad funds The Trinity Christian Community Centre is a registered place of Methodist Worship, managed by Trinity Church LEP, which seeks to provide a community resource for the residents of South Gosforth. Methodist worship is held at least four times per year and rooms are rented by a variety of communily groups. Internal organisations are groups within Trlnity Centre (Trinity Crafts, Trinity Toddlers and Women's fellowship) which keep their own funds within designated bank accounts. These funds are operated by separate treasurers who report their inspected accounts for inclusion within the Trinity Centre LEP annual accounts. Winter Fuel fund is an unrestricted designated fund. There has been no movement on this fund this year. Income is In the form of donations from member's Winter Fuel Allowance, for use by the Ministry Team to alleviate hardship. In 2016 the Church received a gift from the estate of REW Murray. Thls designaled fund Is to be used to fund new equipments, decoration or repairslrenovation. £11,163 was brought forward from 2020-21, There was no movement on the fund this year. In 2016 the Church received £63,000 from the estate of Dr Anne Graham and a gift from her family. This was followed by a further £15,871 in March 2018 from a tax refund. The Trustees have agreed that the total of £78.871 should be held in a fund designated for particular expenditure on larger items. The balance of the fund has remained at £31,021 during the year. Restrlctad funds Bequests have been received from an number of indlviduals over the years. Only one fund now remains. Its use is restricied by the Methodist Church and the remaining fund totals £489. Monies collected for exlernal charities are shown In restrlcted funds. At the year end th8rg was no money collected that had not been paid over. Leaving collections are funds collected for staff leaving Trinity. The money is then passed to the staff member concerned and fund5 paid out should match funds receiv&d, leaving a nil balance. Occasionally, due to the timing of staff departure, there may be a balance carried forward to the next financial year. Isla was a lovely 2 year old who died suddenly in 2007. A fund was set up in the memory of Isla. with a view to purchasing outside play equipment for the safe play area. At this stage, the equipment has yet to be purchased and the balance is carried forward to the next year. The Men's Shed was set up lo help men with mental health issues, which have been made worse with the pandemic. It Is expected for the initiative to continue. The Flower fund money is for the provision of flowers for Sunday service, funerals and weddings. Various members donate to it in memory of family members etc. After use the flowers are given away . Transfers During the year £8,500 was received from the Community Centre fund in to the General fund. Donations by Church subsidiary groups and the church amounted to net receipls in the church of £2,980. Page 25
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 The Endowment fund (Miss Mattie Greenop) transferred £1,881 to the General fund (the CFB General account) representing income on the fund. The General fund helped fund the shortfall in external collections and also added any gift aid that could be applied. This resulted in a transfer of £1,655. The Flower fund donated monies which received Gift Aid of £169. Wages for the Community Centre were paid by the church and amounted to £2.899. 19. Analysls of nat assets between funds Analysls of net assets between funds - current perlod Endowment Restrlctod Unrestrlcted fund8 funds funds 2024 2024 2024 Total funds 2024 Tangible fixed assets Current assets 2,852,236 322,181 (5.622) 2,852,236 385.313 {5,622) (22,500) 37,610 25,522 Creditors due within one year Creditors due in more than one year (22,500) Total 37,610 3,022 3,168,795 3,209.427 Analysls of net assats betweèn funds - prlor perlod Endowment funds 2023 Restrlcted Unrestricted fvnds funds 2023 2023 Total fvnds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,856, 783 285, 133 (6,086) 2,856. 783 347. 798 (6,086) (22,500) 37,610 25,055 (22,500) Total 37,610 2,555 3, 135,830 3, 7 75.995 Page 26
TRINITY CHURCH LEP GOSFORTH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 20. Pènsion commitments The Church operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund. The pension cost charge represents contributions payable by the Church to the fund and amounted to £1,272 (2023 £1,564). Page 27