**Registered charity number: 1138647**
**NETHER GREEN METHODIST CHURCH**
**REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **NETHER GREEN METHODIST CHURCH**
## **CONTENTS**
||**Page**|
|---|---|
|Reference and administrative details|1|
|Trustees’ report|2 - 6|
|Independent auditor’s report|7|
|Statement of financial activities|8|
|Balance sheet|9|
|Notes to the financial statements|10 - 19|
_______________________________________________________________________________________________
## **NETHER GREEN METHODIST CHURCH**
## **REFERENCE AND ADMINISTRATIVE DETAILS** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **Principal address**
Nether Green Methodist Church Nethergreen Road Sheffield S11 8EH
## **Trustees**
The managing trustees are the members of the Church Council of Nether Green Methodist Church.
The members of the Church Council are:
Rev Sally Coleman Rev Timothy Crome (resigned 31 August 2020) Rev James Morley Rev Lisa Quarmby (appointed 1 September 2020) Margaret Allsop (resigned 26 April 2020) Keith Austin Mark Broadhead (resigned 24 September 2020) Andrew Coomer – Treasurer Rachel Fitton Philip Godfrey
Katrin Hackett Lyn Kemp Allyson Merryweather Kath Milner Elaine Needham (resigned 6 October 2020) Steve Pearson Douglas Watts Graham Wilkinson Jackie Wood John Wilkins
## **Custodian trustee**
The Trustees for Methodist Church Purposes
## **Independent Examiner**
R.S.Freeman 5 Hillcote Close Sheffield S10 3PT
## **Bankers**
CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ
_______________________________________________________________________________________________
page 1
## **NETHER GREEN METHODIST CHURCH**
## **TRUSTEES’ REPORT** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **_____________________________________________________________________________________________**
The Trustees present their annual report together with the audited financial statements of Nether Green Methodist Church for the year ended 31 August 2020.
The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ‘Accounting and Reporting by Charities’ (FRS102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the Charities Act 2011, the requirements of the charity’s governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).
## **Structure governance and management**
## Governing document
Under the Charities Act 2006, the church is registered with the Charity Commission, number 1138647. Nether Green Methodist Church is governed by the Standing Orders of the Methodist Church and uses an approved governing document issued by the Methodist Conference.
## Trustees
The managing trustees are the members of the Church Council of Nether Green Methodist Church. The lay members are appointed annually by the congregation.
The trustees receive no remuneration in their roles as members of the Church Council and any expenses paid to them are shown in note 2 to the accounts.
## Organisation
On 31 August 2019 the Beacon Church, which was formed in September 2010 by the merger of four Methodist Churches, split. The congregation at Broomhill ceased to meet and the members worshipping there moved elsewhere. Stephen Hill congregation reformed as a Methodist church so as to further the conversations with the nearby St Columba’s Anglican church. The Beacon now consists of the congregation at Nether Green and has been renamed Nether Green Methodist Church, from 1 September 2019. The church is a member of the Sheffield Methodist Circuit.
A Church Council meeting is usually held in October, January, April and July. In addition, the local leadership team meets regularly and there are congregational meetings.
## Risk management
The trustees have assessed the major risks to which the church is exposed, in particular those related to the operations and finances of the church and are satisfied that systems are in place to mitigate our exposure to major risks.
_______________________________________________________________________________________________
page 2
## **NETHER GREEN METHODIST CHURCH**
## **TRUSTEES’ REPORT – CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **Objectives and activities**
## Objectives
The objectives of Nether Green Methodist Church are those set out in the approved Governing document which has not been changed.
The Church’s Mission Statement includes:
As part of the Body of Christ in west Sheffield, we are called to live out God's purpose in sharing the love of Jesus Christ.
To fulfil this we are all...
called to worship & prayer inspired to grow & develop enabled to serve & transform strengthened to uphold justice & seek peace challenged to value & protect God's creation
## Aims
Our aim is twofold:
- to secure and sustain the church’s viability and future mission;
- to give reassurance to the general public that the church, which is a charity, intends to use all of the money coming into its care for the purpose of the charity.
## Public Benefit
When planning their activities for the year, the managing trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
The public activities of the Church are:
1. The provision of regular public acts of worship open to members of the Church and non-members alike.
2. The provision of sacred space for prayer and contemplation.
3. The teaching of Christianity through sermons and small groups.
4. Pastoral work including visiting the sick and bereaved.
5. The provision of children’s and youth groups and a range of meetings with a Christian ethos.
6. Promoting the whole mission of the Church (and aiding social cohesion) through activities for older people, parents and toddlers.
_______________________________________________________________________________________________
page 3
## **NETHER GREEN METHODIST CHURCH**
## **TRUSTEES’ REPORT – CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **Objectives and activities - continued**
## Policies
The policies of Nether Green Methodist Church are:
Developing a Church culture and profile, sharing resources and support and working within the Connexional purposes of church life, church and society, inter-church and other relationships and supporting the Connexion. In seeking to deepen active faith, we try to equip and provide worship leaders, encourage people in the use of their gifts and offer appropriate lay-training. In seeking to develop practical belief we encourage responsible giving, an engagement with the World Church and with issues of justice, peace and the environment, and support local church initiatives in evangelism.
## Contribution of volunteers
The trustees of Nether Green Methodist Church are the members of the Church Council (listed elsewhere). The trustees are appreciative of all the work that is conducted by the large number of volunteers within the Church.
## **Achievements and performance**
## Review of the year
The church commenced the year well, though without a named minister. We held the usual two services on a Sunday morning and social events including our Autumn fayre, harvest supper and new year dinner, which were all well supported.
All the church activities stopped when the Corvid-19 restrictions took hold. Fortunately, the privately run nursery continued to function and contribute to our finances. The lease negotiations were suspended for a period.
Nether Green membership is **54** (2019 – 54).
## **Financial review**
## Going concern
After making appropriate enquiries, the Church Council 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 statements.
## Review of results
Incoming resources for the year amounted to **£103,866** (2019: £266,296). The total resources expended were **£98,077** (2019: £4,634,467 including a £4,329,467 exceptional donation). After taking account of a gain on investment assets of **£nil** (2019: £299) and a gain on property held at valuation of **£52,872** (2019: £274,805), the Church has a net surplus for the year of **£58,661** (2019: loss of £4,093,067).
The financial position of the Church at 31 August 2020 is satisfactory with unrestricted net current assets of **£47,512** (2019: £34,826) and unrestricted net assets of **£3,626,305** (2019: £3,562,112). Total funds which include restricted and endowment funds amount to **£3,643,623** (2019: £3,584,962).
_______________________________________________________________________________________________
page 4
## **NETHER GREEN METHODIST CHURCH**
## **TRUSTEES’ REPORT – CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **Financial review – continued**
## Reserves policy
## ( _a) Unrestricted general funds_
Under Standing Orders, the Church must meet its financial obligations in relation to the circuit assessment and the maintenance of the churches.
Our reserves policy is to hold at least three months of general expenditure in hand. In the current year this is a minimum of £17,998.
Unrestricted reserves not tied up in fixed assets are £47,512 at the year end.
## _b) Restricted funds_
The restricted funds consist of legacies, funds raised for specific purposes including youth work in the church and internal organisations.
## **Plans for the future**
Nether Green operates as a church within the Methodist Connexion. The congregation is responding to the challenge in three main ways:
- seeking to build the kingdom of God through mission and worship in the community;
- engaging with the local community through activities and events held at the church; and
- maintaining the property in a well-kept condition so it is an asset for mission in the future.
The Church Council is negotiating a lease with the nursery that currently occupies part of the premises, in order to give each party a more secure future. Over the coming year, without a nominated minister, the congregation will be determining where to focus their outreach efforts using their reduced space.
The Youth Person worker left at the end of his three-year contract. In view of the current restrictions a decision has been taken not to seek a replacement in the immediate future.
## **Fundraising Standards Information**
Nether Green Methodist Church does not actively engage in fundraising practices nor contract with a third party to fundraise on the Church's behalf.
_______________________________________________________________________________________________
page 5
## **NETHER GREEN METHODIST CHURCH**
## **TRUSTEES’ REPORT – CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **Trustees’ responsibilities statement**
The Trustees are required by the Methodist Church Act 1976 and Standing Order 913 to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Circuit and of the surplus or deficit of the Circuit for that period.
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards 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 inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The annual report was approved by the Trustees on 20 January 2021 and is signed on their behalf by:
**John Wilkins On behalf of the Trustees**
_______________________________________________________________________________________________
page 6
**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF NETHER GREEN METHODIST CHURCH**
**_____________________________________________________________________________________________**
In accordance with the engagement agreement and in order to assist the Trustees to fulfil their duties I have reviewed the financial statements presented by the Church Treasurer on behalf of the Trustees. I recognise that the Church is not required to present them to any external body but has prepared these in accordance with the provisions of the Charities Act 2011, the requirements of its governing document and the Statement of Recommended Practice (SORP) applicable to charities, preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland as amended on 2[nd] February 2016.
Whilst an audit on the Church records and transactions has not been carried out I am satisfied that the accounts represent an accurate reflection of those transactions.
R.S.Freeman FCCA 11 January 2021 Independent Reporting Accountant
_______________________________________________________________________________________________
page 7
## **NETHER GREEN METHODIST CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
|**Unrestricted**
**Note**
**Fund**
**£**
**Income from:**
Donations and legacies
Offerings and tax recoverable
**49,242**
Grants
**1,603**
Special donations
**5,000**
Legacies
**-**
Investments
**233**
Other trading activities
Lettings
**23,945**
Internal organisations
**-**
Other income
**2,648**
**Total income**
**82,671**
**Expenditure on:**
Raising funds
Internal organisations
-
Charitable activities
General
**4**
**73,357**
Exceptional donation
**5**
-
**Total expenditure**
**73,357**
**Net operating income/(expenditure)**
9,3**14**
Gain on investment assets
**-**
________
**Net income/(expenditure) before**
**transfers**
**9,314**
Transfers between funds
**12**
**2,007**
________
**Net income/(expenditure)**
**before other recognised gains/(losses)**
**11,321**
Gain/(loss) on property held at valuation
**52,872**
**Net movement in funds**
**64,193**
Total funds at 1 September 2019**3,562,112**
Net movement in funds
**64,193**
**Total funds at 31 August 2020**
**3,626,305**|**Restricted**
**Funds**
**£**
**12,306**
**7,802**
**-**
**-**
**67**
**-**
**856**
**155**
**21,186**
**1,314**
**23,404**
-
**24,718**
**(3,532)**
**-**
_________
**(3,532)**
**(2,000)**
_________
**(5,532)**
**-**
**(5,532)**
**21,850**
**(5,532)**
**16,318**|**Endowment**
**Funds**
**£**
**-**
**-**
**-**
**-**
**9**
**-**
**-**
**-**
**9**
**-**
**2**
-
**2**
**7**
**-**
_________
**7**
**(7)**
_________
**-**
**-**
**-**
**1,000**
**-**
**1,000**|
**Total**
**2020**
**£**
**61,548**
**9,405**
**5,000**
**-**
**309**
**23,945**
**856**
**2,803**
**103,866**
**1,314**
**96,763**
-
**98,077**
**5,789**
**-**
_________
**5,789**
**-**
_________
**5,789**
**52,872**
**58,661**
**3,584,962**
**58,661**
**3,643,623**|Total
2019
£
138,082
1,500
-
25,116
1,948
75,642
12,081
11,927
266,296
7,047
297,885
4,329,535
4,634,467
(4,367,171)
299
_________
(4,367,872)
-
_________
(4,367,872)
274,805
(4,093,067)
7,678,029
(4,093,067)
3,584,962|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
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page 8
## **NETHER GREEN METHODIST CHURCH**
## **BALANCE SHEET** _**AS AT 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
|**Unrestricted**
**Note**
**Funds**
**£**
**Fixed assets**
Tangible fixed assets
**8**
**3,578,793**
Investments
**9**
**-**
**Total fixed assets**
**3,578,793**
**Current assets**
Debtors and prepayments
**10**
**13,311**
Central Finance Board and
Trustees for Methodist Church
Purposes deposits etc
**23,306**
Cash at bank and in hand
**16,316**
**Total current assets**
**52,933**
**Creditors due in**
**less than one year**
**11**
**5,421**
**Net current assets**
**47,512**
**Net assets**
**14**
**3,626,305**
**Funds of the Church**
General fund (unrestricted)
**12**
**3,626,305**
Designated funds (unrestricted)
**12**
**-**
Total unrestricted funds
**3,626,305**
Restricted funds
**12**
**-**
Endowment funds
**12**
**-**
**Total funds**
**3,626,305**|**Restricted**
**Funds**
**£**
**-**
**-**
**-**
**125**
**6,671**
**11,785**
**18,581**
**2,263**
**16,318**
**16,318**
**-**
**-**
**-**
**16,318**
**-**
**16,318**|**Endowment**
**Funds**
**£**
**-**
**1,000**
**1,000**
**-**
**-**
**-**
**-**
**-**
**-**
**1,000**
**-**
**-**
**-**
**-**
**1,000**
**1,000**|
**Total**
**2020**
**£**
**3,578,793**
**1,000**
**3,579,793**
**13,436**
**29,977**
**28,101**
**71,514**
**7,684**
**63,830**
**3,643,623**
**3,626,305**
**-**
**3,626,305**
**16,318**
**1,000**
**3,643,623**|Total
2019
£
3,527,286
1,000
3,528,286
15,034
33,211
12,491
60,736
4,060
56,676
3,584,962
3,562,112
-
3,562,112
21,850
1,000
3,584,962|
|---|---|---|---|---|
The financial statements on pages 8 – 19 were approved by the Trustees on 20 January 2021 and are signed on their behalf by:
**On behalf of the Trustees**
_______________________________________________________________________________________________
page 9
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **1. Accounting policies**
## **1.1 General information and basis of preparation of financial statements**
Nether Green Methodist Church is a charity registered in England & Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are those of a Methodist Church.
These accounts have been prepared on a going concern basis under the historical cost convention, with the exception of investments and properties, which are included at market value and insurance value. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016) and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in £ sterling, which is the functional currency of the charity, and rounded to the nearest £1.
## **1.2 Fund accounting**
The funds held constitute:
- General Funds held for any purpose of the charity which are unrestricted;
- Unrestricted funds include designated funds where the trustees, at their discretion, have created a fund for a specific purpose;
- Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or funds raised for a specific purpose; and
- Endowment funds which represent gifts, the capital normally being unavailable for spending, and the income from which is either restricted or unrestricted.
Details of each material fund are disclosed in the notes to these accounts. Any fund may be represented in other ways than in cash.
_______________________________________________________________________________________________
page 10
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1. Accounting policies - continued**
## **1.3 Income**
Income is included in the Statement of Financial Activities (SOFA) when the Church becomes entitled to the resources, it is probable they will receive the income and the monetary value can be measured with sufficient reliability.
Grants receivable are recognised in the SOFA when the conditions for receipt have been complied with. Grants are deferred only when the Church has to fulfil conditions before becoming entitled to them, or where the donor has specified that the income is to be expended in a future period.
Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution.
## **1.4 Expenditure**
Expenditure is recognised when a liability is incurred, or a constructive obligation arises that results in the payment being unavoidable. Resources expended include attributable VAT which cannot be recovered.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
## **1.5 Tangible fixed assets for use by the church**
Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or a reasonable value on receipt. Where cost is not available, the Church Council may provide a reasonable estimate of cost or of the fixed asset’s current value to the church.
Freehold land and buildings are held at their current insurance valuation.
Depreciation of fixed assets is provided at rates estimated to write off each asset less its residual value over the term of its useful life.
The annual rates used are:-
Fixtures and fittings - 10% straight line and 25% reducing balance
Depreciation is not provided on freehold properties as it is the Church's policy to maintain the property in good repair. Consequently, the trustees consider the life of the properties to be so long that there is no significant annual depreciation.
_______________________________________________________________________________________________
page 11
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **1. Accounting policies – continued**
## **1.6 Investments**
Investments are valued in the balance sheet at fair value at the year end.
Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.
## **1.7 Taxation**
As a charity, Nether Green Methodist Church is exempt from tax on income and gains falling within the available tax exemptions to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
## **1.8 Donated assets**
Donated assets are included in the accounts when receivable at the Church’s estimate of fair value.
## **1.9 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered **.** Prepayments are valued at the amount repaid net of any trade discounts due.
## **1.10 Creditors and provisions**
Creditors and provisions are recognised when 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. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.11 Financial 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 their settlement value.
## **1.12 Critical accounting estimates and areas of judgement**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
_______________________________________________________________________________________________
page 12
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **2. Transactions with trustees**
|Number of trustees who were paid expenses
Total amount paid|**2020**
**No**
**6**
**£**
**1,093**|2019
No
5|
|---|---|---|
|||£
2,750|
No trustees received remuneration from the charity in either year.
## **3. Collections for and payments to external organisations**
|Balance brought forward
Collected in the year
Passed to external organisations
Transferred out to Broomhill and Stephen Hill
Balance carried forward|**2020**
**£**
**891**
**239**
**(1,130)**
**-**
**-**|2019
£
2,437
6,082
(4,734)
(2,894)
891|
|---|---|---|
Collections are made on behalf of external organisations. These are excluded from the income and expenditure of the charity. Funds which are yet to be paid over at the year- end are included within creditors.
## **4. Charitable activities**
|**Unrestricted**
**Fund**
**£**
Circuit assessment
**30,000**
Grants and donations
**300**
Repairs and maintenance
**29,584**
Insurance, utilities etc
**10,605**
Depreciation
**1,365**
Church worker costs
**-**
Audiovisual systems
**605**
Worship
**60**
Printing and stationery
**-**
Other expenditure
**338**
Auditors remuneration
(Statutory audit)
**500**
**73,357**|**Restricted**
**Funds**
**£**
**-**
**-**
**1,172**
**-**
**-**
**22,232**
**-**
**-**
**-**
**-**
**-**
**23,404**|**Endowment**
**Funds**
**£**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**2**
**-**
**2**|
**Total**
**2020**
**£**
**30,000**
**300**
**30,756**
**10,605**
**1,365**
**22,232**
**605**
**60**
**-**
**340**
**500**
**96,763**|Total
2019
£
91,000
1,875
141,298
29,931
2,416
20,623
1,559
375
648
3,504
4,656
297,885
|
|---|---|---|---|---|
## **5. Charitable activities – exceptional donation**
On 31 August 2019 the Beacon Methodist Church split. The Beacon Methodist Church then was Nether Green Methodist Church. All the amounts relating to the other two churches were donated back to them at a cost of £4,264,245 unrestricted expenditure and £46,954 restricted expenditure.
_______________________________________________________________________________________________
page 13
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **6. SOFA prior year comparatives**
|**Unrestricted**
**Fund**
**£**
**Income from:**
Donations and legacies
Offerings and tax recoverable
115,254
Grants
-
Special donations
-
Legacies
-
Investments
1,316
Other trading activities
Lettings
75,642
Internal organisations
-
Other income
11,927
**Total income**
204,139
**Expenditure on:**
Raising funds
Internal organisations
-
Charitable activities
General
248,401
Exceptional donation
4,264,245
**Total expenditure**
4,512,646
**Net operating income/(expenditure)**
(4,308,507)
Gain/(loss) on investment assets
74
________
**Net Income/(expenditure) before**
**transfers**
(4,308,433)
Transfers between funds
1,889
________
**Net Income/(expenditure)**
**before other recognised gains/(losses)**
(4,306,544)
Gain/(loss) on property held at valuation
274,805
**Net movement in funds**
(4,031,739)
Total funds at 1 September 2018
7,593,851
**Total funds at 31 August 2019**
3,562,112|**Restricted Endowment**
**Funds**
**Funds**
**£**
**£**
22,828
-
1,500
-
-
-
25,116
-
78
554
-
-
12,081
-
-
-
61,603
554
7,047
-
49,446
38
46,954
18,336
103,447
18,374
(41,844)
(17,820)
-
225
_________
_________
(41,488)
(17,595)
(586)
(1,303)
_________
_________
(42,430)
(18,898)
-
-
(42,430)
(18,898)
64,280
19,898
21,850
1,000|**Total**
**2019**
**£**
138,082
1,500
-
25,116
1,948
75,642
12,081
11,927
266,296
7,047
297,885
4,329,535
4,634,467
(4,367,872)
299
_________
(4,367,872)
-
_________
(4,367,872)
274,805
(4,093,067)
7,678,029
3,584,962
|
|---|---|---|
_______________________________________________________________________________________________
page 14
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
|**7.**
**Wages and salaries**
Gross salary
Employer’s NI
Employer’s pension contributions
Average number of employees
No employees received emoluments in excess of £60,000 (2019: none).
**8.**
**Tangible fixed assets**
**Freehold**
**land &**
**buildings**
**£**
**Cost**
At 1 September 2019
**3,521,825**
Revaluation
**52,872**
At 31 August 2020
**3,574,697**
**Depreciation**
At 1 September 2019
**-**
Depreciation charge for year
**-**
At 31 August 2020
**-**
**Net book value**
31 August 2020
**3,574,697**
31 August 2019
3,521,825|**2020**
**£**
**29,442**
**2,064**
**1,745**
**33,251**
**No**
**3**
**Fixtures**
**fittings and**
**equipment**
**£**
**22,681**
**-**
**22,681**
**17,220**
**1,365**
**18,585**
**4,096**
5,461|2019
£
49,742
3,342
3,449
56,533
No
3
**Total**
**£**
**3,544,506**
**52,872**
**3,597,378**
**17,220**
**1,365**
**18,585**
**3,578,793**
3,527,286|
|---|---|---|
Freehold land and buildings have been revalued at the year end with reference to their insured value.
Information is not available to quantify the historical cost of the buildings.
_______________________________________________________________________________________________
page 15
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **9. Fixed asset investments**
|**Fixed asset investments**||
|---|---|
||**Listed investments**|
||**/managed funds**|
||**£**|
|**Valuation**||
|At 1 September 2019|**1,000**|
|Income|**9**|
|Expenditure|**(2)**|
|Transfers|**(7)**|
|At 31 August 2020|
**1,000**|
Information is not available to quantify the historical cost of the investments.
|**10.**
**Debtors**
**Unrestricted**
**Funds**
**2020**
**£**
Accrued income
- Gift Aid recoverable
**3,955**
Circuit assessment paid in advance
**6,000**
Other debtors
**-**
Prepayments
**3,356**
**13,311**|**Restricted**
**Funds**
**2020**
**£**
**125**
**-**
**-**
**-**
**125**|**Total**
**Funds**
**2020**
**£**
**4,080**
**6,000**
**-**
**3,356**
**13,436**|Total
Funds
2019
£
5,145
7,500
431
1,958|
|---|---|---|---|
||||
15,034|
**11. Creditors: amounts falling due within one year**
|**Unrestricted**
**Funds**
**2020**
**£**
Sundry creditors
-
Accruals
**5,421**
**5,421**|**Restricted**
**Funds**
**2020**
**£**
**-**
**2,263**
**2,236**|**Total**
**Funds**
**2020**
**£**
**-**
**7,684**
**7,684**|Total
Funds
2019
£
891
3,169
4,060|
|---|---|---|---|
_______________________________________________________________________________________________
page 16
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **12. Funds – current year**
|**Brought**
**forward**
**£**
**Unrestricted funds**
General funds
**3,562,112**
Total
**3,562,112**
**Restricted funds**
Children’s, Family
& Youth Worker
**15,208**
Internal organisations
**6,642**
Total
**21,850**
**Endowment funds**
T D Crothers Fund
**1,000**
Total
**1,000**
**Total funds**
**3,584,962**|**Income Expenditure**
**£**
**£**
**82,671**
**(73,357)**
**82,671**
**(73,357)**
**20,330**
**(23,404)**
**856**
**(1,314)**
**21,186**
**(24,718)**
**9**
**(2)**
**9**
**2)**
**103,866**
**(98,377)**|**Transfers**
**£**
**2,007**
**2,007**
**-**
**(2,000)**
**(2,000)**
**(7)**
**(7)**
**-**|**Gain on**
**Revaluation**
**£**
**52,872**
**52,872**
**-**
**-**
**-**
**-**
**-**
**52,872**|**Carried**
**Forward**
**£**
**3,626,305**
**3,626,305**
**12,134**
**4,184**
**16,318**
**1,000**
**1,000**
**3,643,623**|
|---|---|---|---|---|
## **Purposes of funds**
## **Restricted funds**
Children’s and Family and Youth Worker’s fund – to provide a worker to work directly with children and young people in their faith development and education through leadership and co-ordination of groups, and support the congregation’s vision for children’s participation in the life of the church community
Internal Organisations include the following:
Lunch club fund – to provide a weekly meal and fellowship for older people who are lonely, or living by themselves or unable to provide for themselves.
## **Endowment funds**
The income from the endowment funds is expendable. The net income after expenditure is transferred to unrestricted funds. The capital of very small endowment funds may be expended with Connexional approval.
## **Transfers between funds**
A total of £2,000 has been transferred from other internal organisations funds to unrestricted funds. These are donations from the relevant groups to the church as a whole.
Net income after expenditure of £7 has been transferred from endowment funds to unrestricted funds as the income is expendable.
_______________________________________________________________________________________________
page 17
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
**_____________________________________________________________________________________________**
## **13. Funds- prior year**
|**Brought**
**forward**
**£**
**Unrestricted funds**
General funds
**7,581,779**
Broomhill
property reserve
**2,072**
Youth development
worker
**10,000**
**12,072**
Total
**7,593,851**
**Restricted funds**
Children’s, Family
& Youth Worker
**13,394**
Church Development
Fund Stephen Hill
**15,000**
Legacies
**500**
Benevolence Fund
**1,204**
Stephen Hill
Congregation
**25,650**
Internal organisations
**8,532**
Total
**64,280**
**Endowment funds**
Sir Samuel Osborn
Fund (BH)
**18,891**
T D Crothers
Fund (NG)
**1,007**
Total
**19,898**
**Total funds**
**7,678,029**|**Income Expenditure**
**£**
**£**
**204,139 (4,510,574)**
**-**
**(2,072)**
**-**
**-**
**-**
**(2,072)**
**204,139 (4,512,646)**
**24,406**
**(22,592)**
**25,116**
**(40,116)**
**-**
**(500)**
**-**
**(1,204)**
**-**
**(25,650)**
**12,081**
**(13,385)**
**61,603**
**(103,447)**
**546**
**(18,372)**
**8**
**(2)**
**554**
**(18,374)**
**266,296 (4,634,467)**|**Transfers**
**£**
**11,889**
**-**
**(10,000)**
**(10,000)**
**1,889**
**-**
**-**
**-**
**-**
**-**
**(586)**
**(586)**
**(1,290)**
**(13)**
**(1,303)**
**-**|**Gain on**
**Revaluation**
**£**
**274,879**
**-**
**-**
**-**
**274,879**
**-**
**-**
**-**
**-**
**-**
**-**
**-**
**225**
**-**
**225**
**275,104**|**Carried**
**Forward**
**£**
**3,562,112**
**-**
**-**
**-**
**3,562,112**
**15,208**
**-**
**-**
**-**
**-**
**6,642**
**21,850**
**-**
**1,000**
**1,000**
**3,584,962**|
|---|---|---|---|---|
_______________________________________________________________________________________________
page 18
## **NETHER GREEN METHODIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS - CONTINUED** _**FOR THE YEAR ENDED 31 AUGUST 2020**_
## **14. Analysis of net assets between funds**
|**Unrestricted Designated**
**Current year**
**funds**
**funds**
**£**
**£**
Tangible fixed assets
**3,578,793**
**-**
Fixed asset investments
**-**
**-**
Debtors and prepayments
**13,311**
**-**
Current asset investments
**23,306**
**-**
Cash at bank and in hand
**16,316**
**-**
Creditors due within one year
**(5,421)**
**-**
Net assets
**3,626,305**
**-**
**Unrestricted Designated**
**Prior year**
**funds**
**funds**
**£**
**£**
Tangible fixed assets
**3,527,286**
**-**
Fixed asset investments
**-**
**-**
Debtors and prepayments
**13,609**
**-**
Current asset investments
**20,247**
**-**
Cash at bank and in hand
**4,139**
**-**
Creditors due within one year
**(3,169)**
**-**
Net assets
**3,562,112**
**-**|**Restricted**
**Endowment**
**funds**
**funds**
**£**
**£**
**-**
**-**
**-**
**1,000**
**125**
**-**
**6,671**
**-**
**11,785**
**-**
**(2,263)**
**-**
**16,318**
**1,000**
**Restricted**
**Endowment**
**funds**
**funds**
**£**
**£**
**-**
**-**
**-**
**1,000**
**1,425**
**-**
**12,964**
**-**
**8,352**
**-**
**(891)**
**-**
**21,850**
**1,000**|**Total**
**£**
**3,578,793**
**1,000**
**13,436**
**29,977**
**28,101**
**(7,684)**
**3,643,623**
**Total**
**£**
**3,527,286**
**1,000**
**15,034**
**33,211**
**12,491**
**(4,060)**
**3,584,962**|
|---|---|---|
## **15. Related party transactions**
During the year, Trustees have donated £21,505 (2019: £36,408) to Nether Green Methodist Church. This is included within offerings and tax recoverable income.
_______________________________________________________________________________________________
page 19