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2020-08-31-accounts

BERMONDSEY CENTRAL HALL METHODIST CHURCH ANNUAL REPORT & ACCOUNTS FOR THE YEAR ENDED 31ST AUGUST 20 20

1

CONTENTS

REFERENCE AND ADMINSTRATIVE INFORMATION 4
STRUCTURE, GOVERNANCE AND MANAGEMENT 5
MISSION STATEMENT, OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS 6
REVIEW, RISK MANAGEMENT AND PLANNING 8
FINANCIAL REVIEW, POLICY ON RESERVES AND INVESTMENTS 9
REPORT OF THE INDEPENDENT EXAMINER 10
STATEMENT OF FINANCIAL ACTIVITIES 11
BALANCE SHEET 12
CASH FLOW FORECAST 13
NOTES TO THE ACCOUNTS 14

3

REFERENCE AND ADMINISTRATIVE INFORMATION

Bermondsey Central Hall Methodist Church, incorporating the South London Mission, is situated in Bermondsey Street, London. We are a Methodist church congregation and mission within the Methodist circuit of Deptford and Southwark.

Our correspondence address is:

South London Mission 256 Bermondsey Street Bermondsey London SE1 3UJ

Since 1889 the needs of the local community have been served by Methodist Christians from this corner of Bermondsey. Following the reorganisation of the London Mission (South) Circuit in 2008, Bermondsey Central Hall Methodist Church, including the South London Mission, registered with the Charity Commission in 2011 Number 1141912. The nature of the governing document is that of an excepted unincorporated charity dating from September 1932.

The accounts have been prepared in accordance with the requirements of the Charities Act 2011, the Statement of Recommended Practice “Accounting and Reporting for Charities” (FRS 102) issued by the Charity Commission, The Charities (Accounts and Reports) Regulations 2008 and the Church Accounting Regulations 2006.

Accountants / Independent Examiners:

Wyatt & Co 125 Main Street Garforth, Leeds LS25 1AF

Bankers:

HSBC Bank plc Barclays Bank plc Victoria Street Tower Bridge Road Westminster Bermondsey London, SW1P 3AS London, SE1

Investment managers

Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE

Solicitors:

Pothecary Witham Weld 25 North Street Bishop's Stortford CM23 2LD

4

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Trustees present their annual report and accounts of the charity for the year ended 31 August 2020. The charity registration number is 1141912 and other reference and administrative details are shown on page 1. Its working names are BCH, SLM and South London Mission.

The Trustees of the charity are the members of the Church Council of Bermondsey Central Hall Methodist Church (BCH), appointed by the Annual Church Meeting. Membership of the Church Council is normally restricted to a 6-year term but can be extended by approval of the Annual Church Meeting. The Chair of Trustees – the Minister of BCH alongside the Finance & Governance Committee perform the main management function for the charity, including recommending the budget and setting the remuneration levels for employed staff. They are supported by a Property Committee and a Missions Projects Committee. Day-to-day management is delegated through the Minister to a team of lay staff covering both administration and mission activities.

The Church Council Members who served during the year were as follows:

The Superintendent Minister T Revd. David Gillman
The Minister T As above
Lay Worker Mr Peter Baffoe
The Church Stewards* T Mr Ayodele Odumade
T Ms Abena Baffoe
T Mr Cecil Venn
T Mrs Lovette Kargbo
T Mrs Doreen Gowie
T Mr Desmond Sesay
T Martha Obeng-Damptey
T Mrs Agatha Williams
T Mr Reynold Thomas
T Mr Eric Bediako
T Mrs Stephanie Stevenson
The Church Treasurer* T Mr Samuel Abbey
The Secretary of the Council* T Mrs Toyin Odumade
The Secretary of the Pastoral Committee* T Mr Eric Bediako
Baptismal Roll Secretary T Mrs Rachel George
The Secretary of the Property Committee T Mrs Tracey Marlin
The Secretary of the Finance & Governance Committee T Ms Abena Baffoe
& SLM Projects Committee
Safeguarding Officers T Mrs Tracey Marlin
T Mrs Doreen Gowie
T Mrs Lovette Kargbo
T Mr Reynold Thomas
Representatives elected annually by the church meeting* T Mr Hector Shaw
T Mr Samuel Abbey
T Ms Kadiatu Jalloh
T Mr Festus Macauley
T Mrs Akua Agyepong
T Mrs Omo Harris
T Mr Seth Baffoe
T Mrs Velma Fofanah
T Mr George Boachie
T Mrs Mary Davies
T Mrs Jennifer Yankson-Lartey

5

MISSION STATEMENT, OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS

The calling of Bermondsey Central Hall Methodist Church is to be a sign of God’s love to our neighbours through word, prayer and action. Open to God challenging and changing us, and recognising our need for God’s power and grace, we commit ourselves to:

There are many activities and projects fulfilling these aspirational goals – led and supported by the BCH congregation, our many volunteers, and the paid staff of SLM.

It seems impossible to look back over the last year and think of anything other than the Covid-19 Pandemic. However when looking back at our year which began in September there are many things we have achieved and things to be proud of. In our report this year we will share some of the highlights and some of our hopes for the future in what will be the “new normal”. In this year we have made some organisational changes in order to respond to the changing nature of the work of the South London Mission and the Southwark Deptford Methodist Circuit.

Community

We have continued to be part of the Southwark Foodbank network, feeding up to 20 households a week. This year in particular has been difficult, and we have seen much higher numbers of large families and people experiencing job insecurity attending the foodbank. As well as addressing the immediate need of food poverty, we also offer signposting advice and support so that people can continue to get help beyond the food parcels. We are pleased to note that we have seen a rise in the number of volunteers and donations to the food bank also.

The mission and the worshiping community at Bermondsey Central Hall continued to support the work of the winter night shelter project acting as a host venue every Saturday evening and Sunday morning between November 2019 and January 2020.

Our partnership with Link Age Southwark has continued this year with the exercise class for over 60s being a regular feature of our mid-week activities. The group perform a series of gentle chair-based exercises to support both physical and mental health and wellbeing.

Family & Children

This is a key part of the work for both the Church and the Mission. Activities encourage the physical, emotional and spiritual welfare of children and young people including:

Boys and Girls Brigade : - attended by more than 25 children (ages 4–15yrs) each week during term time.

Saturday Supplementary School: - Every Saturday morning during the school term the now familiar sight of 30 plus primary school children sat neatly around several square tables in the church hall is what you would meet as the SLM Supplementary School continues to provide a high standard of educational development for children in the local area. The school focuses on English and Maths teaching but also developing the confidence and resilience of participants from Key Stage 1 to teenagers. The School provides extra support on subjects, specialising in literacy and numeracy and I.T. skills. There are currently three teaching members of staff and an administrator.

Sunday School: - meets 2 or 3 times a month – and has an attendance of 30 to 40 children and young people. Four different age-groups meet, and the volunteer teachers provide age-appropriate activities for spiritual and social development.

6

MISSION STATEMENT, OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS CONT’D

Venture FX – Mummies Republic

The Venture FX Pioneer focuses on families with young children who are isolated due to life circumstances and financial issues, often without other family members around to help them. In addition to practical and emotional support, the project offers them space to explore spiritual issues whatever their background, culture or current situation. One of the highlights this year was two trips to the theatre over the Christmas period. Thanks to grants and donations we were able to take 30 families to enjoy a pantomime performance at the world famous London Palladium and to see the Lion King at the Lyceum theatre on The Strand. During the lockdown period, Mummies Republic were also able to raise funds to support the purchase of laptops to support home-learning for vulnerable children.

Property Matters

A registered “House of Multiple Occupation”, Cluny Place House (CPH) provides much needed affordable accommodation to a mix of people, from students and young adults taking their first steps towards independence to former Night Shelter guests and those from overseas. In addition to somewhere to live, the 34 residents are provided with practical and pastoral support where appropriate.

In the new year we sadly said goodbye to two of our ‘office’ tenants, Housing Justice and the Robes Project. BCH provided a home to these charities for a combined period of over 15 years. Both charities recognised that they needed to relocate to newer and more modernised facilities to support the development of their work. We are sad to see them go and now have the opportunity to invest in making the building fit for the future.

Post Covid

In March we joined the whole nation in the national lockdown. Due to the community and human centred nature of most of the charity’s projects, and the requirement to close portions of the building, some staff were furloughed. Though this was a difficult decision to make but we were heartened to see so many local mutual aid groups start up and support local people.

As the local community and the nation as a whole begins to slowly work its way out of the crisis, we feel this is a good time for the mission and the church to ask some questions about its purpose. The best placed people to answer these questions are not only those already engaged with the mission and the church but also our local community, our neighbours and external stakeholders. With this in mind, we intend to carry out a listening campaign using the ‘face to face conversations’ surveys and questionnaires and local data to better understand the needs of our community.

7

REVIEW, RISK MANAGEMENT AND PLANNING

Review of operations, structure and activities:

Much of the church’s activity was severely disrupted during 2020 due to the Covid-19 pandemic and ensuing lockdown. The operational review of processes, structure and personnel, facilitated by an external consultant was ongoing, but gave way to the financial, staffing and missional /ministry concerns resulting from Covid-19. For part of lockdown, the majority of staff were on furlough and expenditure on the external consultancy was reduced. The review will reconvene in the autumn of 2020 with a focus on establishing a sustainable model for the CPH housing provision and then implementing appropriate structures for staffing and governance to support this. The Finance & Governance Committee and staff remain cognisant that a greater level of strategic focus and operation resilience is required to help the charity maximise its impact, steward its resources effectively and operate in a sustainable fashion, particularly following the financial pressures experienced in 2020. The review will seek to conclude in early 2021 with any recommendations being brought the church council for ratification as appropriate.

Activities for the Public Benefit:

The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, and in planning activities for the year. All of the above listed projects are focused on benefiting those in need of support and are open to anyone who meets the specific criteria of the individual activities.

Risk management:

The Trustees continue to keep the major risks to which the organisation is exposed under review and take appropriate action when required. For example, the age and size of the property means that maintenance and repairs are continuous; as a result, the costly but essential upgrades – such as the fire alarm system – have to be funded from reserves. A quinquennial review is scheduled for November 2020. Risk Management remains a primary responsibility and concern for the Finance & Governance Committee. The level of rent arrears from CPH also remains a risk to be managed as does the proportion of income generated from various commercial lettings. The F&G will continue to monitor the level of arrears and any corresponding write-off of bad debt, as well as considering general income and expenditure levels, level of cash reserves and the ongoing financial viability of the charity.

Future Plans:

As referenced above, the leadership of BCH are currently undergoing an operational and strategic review to aid future planning. The staffing and governance structures, missional activities and premises use are all being considered as the church seeks to be obedient and responsive to the leading of the Holy Spirit. It is hoped that significant progress will be made on this review in 2020/2021. The charitable objectives of the charity will remain the same, to promote and communicate the Christian gospel and to alleviate poverty by serving those in need, primarily in the Bermondsey and Southwark areas. The focus for 2020/2021 financial year will be to agree a sustainable model of management and operation for the CPH housing provision, reduce expenditure where possible, utilise the Trewint flat and 2[nd] floor offices for charitable or revenue generating purposes and to optimise mission activity to meet the needs of the local community, particularly in the wake of Covid-19.

8

FINANCIAL REVIEW, POLICY ON RESERVES AND INVESTMENTS

Our work is funded primarily by rental income from Cluny Place House, the medical surgery on Decima Street and the various lettings of both offices and accommodation on site. However, the generosity of those connected to the Church and of the various grant funders we have approached is much appreciated, and plays a vital role in allowing Mission activities to continue.

Net incoming resources were £574,955 compared with £555,180 in the last financial year. This increase is entirely due to the receipt of grants from HMRC through their Coronavirus Job Retention Scheme (circa £68K). Net of these grants, income reduced by circa £50,000, due to reduced donations and vacant rooms and office space. A detailed analysis of incoming and outgoing resources is shown in Notes 1 & 2 of this booklet. Operational expenditure was £525,999, but additionally £65,400 was spent on a major fixed asset purchase with the replacement of the boiler and heating system for Central Hall. Whereas the assets of the charity on the balance sheet increased to £474,255, net current assets reduced to £343,893.

From this £343,893:

Investments are held and managed by the Central Finance Board of the Methodist Church and the Trustees for Methodist Church Purposes. The social, ethical and environmental considerations followed are therefore those of the Methodist Church.

Staff remuneration levels are agreed by the Finance & Governance Committee, with any employed members absenting themselves from the discussion. Salaries are benchmarked to Methodist lay worker scales, Venture FX rates (advised by the Connexion) and the UK Church Administrators Network 2019 Benchmarking Survey. No increase was awarded in 2020 due to the financial pressures experienced by the charity.

The Trustees’ policy on reserves is to hold sufficient funds to cover present and future projects for a minimum of 6 months, and to meet its obligations as they fall due.

Support for our Mission Activities:

We are very grateful to all those who show a prayerful interest in our activities and who support our projects through financial and in-kind donations. If you would like to know more, please get in touch – we would be delighted to send a speaker or preacher or run a Home Mission event for you.

Signed ______ Dated:

by Rev David Gillman, Superintendent Minister of Deptford & Southwark Circuit on behalf of the trustees of Bermondsey Central Hall Methodist Church

9

REPORT OF THE INDEPENDENT EXAMINER

I report to the trustees on my examination of the financial statements of Bermondsey Central Hall Methodist Church ('the charity') for the year ended 31 August 2020.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s 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 I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

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

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

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

Emphasis of matter

As part of the independent examination, we would like to draw attention to the users of these accounts that the debtors balance for rent due from the residential room letting from the charities social housing activity is likely to be overstated. During the year the trustees and management undertook a review of the debt outstanding and wrote off a proportion of this. As part of our review, we have identified that proportions of the remaining debtors balance have been outstanding for more than a year. We have been unable to verify if these amounts are more than likely to be paid in the coming year. As outlined in the trustee’s report due to the nature of the social housing being provided there will always be rental debts which are unlikely to be paid. As the independent examiners we have recommended that a bad debt policy is reviewed on a regular basis.

Nigel Wyatt BSC FCA Independent Examiner 125 Main Street Garforth Leeds LS25 1AF

10

BERMONDSEY CENTRAL HALL METHODIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31st August 2020

notes
INCOME AND ENDOWMENTS FROM:
2
Donations and legacies
Investments
Grants
Activities
TOTAL INCOME AND ENDOWMENTS
EXPENDITURE ON:
Charitable activities
3/4
TOTAL EXPENDITURE
Loss on disposal of fixed assets
5
Gains on revaluation of investments
6
Reconciliation of funds:
BALANCE AT 1st September 2019
11
Transfers between funds
BALANCE AT 31st August 2020
11
NET INCOME before transfers
NET MOVEMENT IN FUNDS FOR
THE YEAR		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£
73,681
381,522
-
4,020		 310
27
113,891
1,504		 73,991
381,549
113,891
5,525		 70,728
410,894
67,661
5,898
459,224
115,732
574,955
555,180
396,679
129,320
525,999		 562,950
396,679
129,320
525,999
562,950
62,545
(13,588)
48,956
(7,770)
-
-
(2,466)
(6,271)
-
(6,271)
2,479
56,273
(13,588)
42,685
(6,761)
379,071
52,499
431,570
438,332
(500)
500
-
-
434,845
39,411
474,255
431,570

The notes on pages 14 to 22 form part of these financial statements.

11

BERMONDSEY CENTRAL HALL METHODIST CHURCH BALANCE SHEET as at 31st August 2020

notes
FIXED ASSETS
Tangible fixed assets
5
Investments
6
CURRENT ASSETS
Debtors
7
Cash at bank
CREDITORSdue within one year
8
NET CURRENT ASSETS
TOTAL ASSETSlessCURRENT LIABILITIES
CREDITORSdue after one year
9
NET ASSETS
10
FUNDS
11
Unrestricted
General
Designated
Restricted
Specific		 2020
2019
£
£
77,700
18,511
52,662
58,933		 2020
2019
£
£
77,700
18,511
52,662
58,933
70,979
305,791		 68,890
293,099
376,770
361,989
32,877
7,863
343,893
354,126
474,255
431,570
-
-
474,255
431,570
412,311
22,534		 356,537
22,534
434,845
379,071
39,411
52,499
474,255
431,570

Approved by the Finance & Governance Team on date & signed on their behalf by:

…………………………………………………… Revd. David Gillman (Superintendent Minister) …………………………………………………… Mr Samuel Abbey (Treasurer)

The notes on pages 14 to 22 form part of these financial statements

12

BERMONDSEY CENTRAL HALL METHODIST CHURCH CASH FLOW STATEMENT for the year ended 31st August 2020

2020
2019
notes
£
£
CASH FLOWS FROM OPERATING ACTIVITIES
Net cash generated from operating activities
A
(158,529)
(234,823)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received and rent from investments
171,221
196,104
Net cash provided by investing activities
171,221
196,104
CASH FLOWS FROM FINANCING ACTIVITIES
Interest paid
-
-
Loans received
-
-
Loan repayments
-
(100)
Net cash (used in)/provided by financing activities
-
(100)
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Classified on the balance sheet as:
Cash at bank
107,409
39,729
CFB deposit accounts
198,382
253,370
305,791
293,099
The notes on pages 14 to 22 form part of these financial statements
NOTE TO THE STATEMENT OF CASH FLOWS:
A. RECONCILIATION OF NET INCOME TO NET CASH GENERATED FROM OPERATING ACTIVITIES
2019
2018
£
£
Net (deficit) / surplus for the year
42,685
(6,130)
Gains on revaluation of investments
6,271
(1,471)
Interest received
(3,813)
(4,713)
Rent from investments
(167,408)
(191,390)
Depreciation of tangible fixed assets
6,211
1,851
Loss on disposal of fixed assets
(65,400)
-
(Increase)/Decrease in debtors
(2,088)
(27,249)
Increase/(Decrease) in creditors
25,013
(8,662)
NET CASH GENERATED FROM OPERATING ACTIVITIES
(158,529)
(234,823)
Cash and cash equivalents at
the end of the reporting period
305,791
293,100
293,099
12,692
(38,818)
331,918		 2020
2019
£
£
(158,529)
(234,823)		 2020
2019
£
£
(158,529)
(234,823)
171,221 196,104
171,221
196,104
-
-
-		 -
-
(100)
-
(100)
293,099
12,692
(38,818)
331,918
305,791
293,100
107,409
39,729
198,382
253,370
305,791
293,099
(158,529)
(234,823)

13

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020

1. ACCOUNTING POLICIES

a) Basis of preperation of financial statements

The accounts are prepared under the historical cost convention, in accordance with the Church Accounting Regulations 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with FRS 102 (effective 1 January 2015) - (Charities SORP (FRS 102)) and the Charities Act 2011.

The primary objective of the charity is to promote the gospel of our Lord Jesus Christ according to the doctrine and practice of the Methodist Church. The charity 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 note(s). There are no material uncertainties about the charity’s ability to continue as a going concern.

The church is a registered charity in England and Wales. The Trustees are the members of the Church Council named on page 1. The registered office is 256 Bermondsey Street, London, SE1 3UJ

b) Fund accounting

BCH funds are required to be analysed under specific headings, as follows.

General funds represent the ‘free’ funds of the charity that are not subject to any restriction regarding their use and are available for application for the general purposes of BCH.

Designated funds are earmarked by the charity for particular purposes but are nevertheless still unrestricted as the church council can redesignate the funds if it wishes.

Restricted funds are funds collected or donated for a particular purpose and cannot be used by the charity for any other purpose except by agreement with the donor.

The funds of the charity have been appropriately analysed and the statement of financial activities has been prepared in accordance with this analysis.

c) Accounting Requirements

The accounts are required to include all transactions, assets and liabilities for which the charity can be held responsible, and therefore include:

Tax on gifts and donations received during the year;

Specific giving directed to support individual full-time Christian workers;

The accounts do not include the accounts of church groups that owe an affiliation to another group, nor those which are informal gatherings of church members. Church groups which are largely self-financing, such as the flower fund, are excluded as they do not materially affect the accounts; however subsidies paid to these groups are included.

14

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020

1. ACCOUNTING POLICIES (continued)

d) Income

Collections and planned giving are included in the SOFA when the funds are received. Income tax recoverable on gift aid donations is recognised when claimable.

(ii) Other donations

Any grants or legacies to the charity are accounted for as soon as the charity is notified of its legal entitlement and the amount due.

(iii) Trading and ancillary activities:

All funds raised by church activities such as the bookstall, and catering etc. are accounted for gross. Rental income from non-investment property and room lettings is recognised when the rental is due.

(iv) Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors.

e) Application of Resources

f) Depreciation

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Central Hall Improvements Over 15 years Minibus 20 written down value

g) Liabilities

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably –usually the invoice amount. All expenditure is accounted for on an accruals basis.

h) Going Concern

The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the Trustees have considered the charity forecasts and projections and have taken account of pressures on income. After making enquiries the Trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

15

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020 (continued)

1. ACCOUNTING POLICIES (continued)

h) Tax Status

As a charity, BCHMC is exempt from paying income and corporation tax, but does have to pay value added tax.

2. INCOME

DONATIONS AND LEGACIES
Donations & Gifts
Legacies Receivable
Gift Aid
Church Offering
INCOME FROM PROPERTY / INVESTMENTS
Interest & Investment Income
Residents
Other Commercial Hire
Other
Venture FX
Venture FX Grants
Venture FX Donations
Activities and Events
Venture FX Activity
Other
Sunday School
Government Grants
CJRS (HMRC)
TOTAL
Special collections & support		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£		 unrestricted
restricted
2020
2019
funds
funds
total
total
£
£
£
£
24,174
27,808
5,600
14,454
1,645		 -
-
-
-
-		 24,174
27,808
5,600
14,454
1,645		 17,256
9,030
12,277
29,292
1,716
73,681
-		 73,681
69,572
3,786
210,328
167,408
-		 27
-
-
-		 3,813
210,328
167,408
-		 4,713
214,890
190,390
900
381,522
27		 381,549
410,894
-
-		 45,582
310		 45,582
310		 67,661
1,156
-
45,892		 45,892
68,817
-
2,055
1,965		 1,504
-
-		 1,504
2,055
1,965		 500
3,158
2,240
4,020
1,504		 5,525
5,898
68,309 68,309 -
459,224
115,732		 574,955
555,180

In the 2019 FY, £69,317 of donation income related to restricted funds, with the balance of all other income totalling £486,495 relating to unrestricted funds.

16

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020 (continued)

3.
THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION
notes
£
£
£
£
CHARITABLE GIVING
Benevolent Fund
11/17
-
-
-
1,720
JMA
-
-
-
1,296
External Giving
-
-
-
5,000
-
-
-
8,016
MINISTRY
Circuit Assessment (Circuit/District/Conn
12
72,500
-
72,500
80,266
Staffing costs
13
107,068
68,309
175,376
200,131
BCH Methodist Church costs costs
4,998
-
4,998
10,289
Direct Social Relief
2,842
-
2,842
7,895
South London Mission Running Costs
14,562
-
14,562
12,069
Cluny Place House running costs
37,951
-
37,951
32,094
-
-
-
-
239,920
68,309
308,228
342,744
VENTURE FX
Venture FX Staffing Costs
13
-
52,662
52,662
41,857
Project Costs
-
8,350
8,350
12,493
-
61,011
61,011
54,350
PREMISES
Insurance
8,068
-
8,068
8,195
Cleaning Supplies
8,310
-
8,310
9,471
Repairs/Maintenance (not CPH)
30,053
-
30,053
32,649
Utilities
61,705
-
61,705
48,569
Depreciation
6,211
6,211
4,330
Local Authority Rates
2,827
-
2,827
3,063
117,173
-
117,173
106,277
ADMINISTRATION
Printing, photocopying & Stationery
838
-
838
3,696
Telecoms
3,275
-
3,275
3,086
Banking, Governance & Professional Fees
21,916
-
21,916
34,238
IT, Hardware,subscriptions and sundries
2,434
-
2,434
10,544
Bad debt write-off
7
11,123
-
11,123
-
39,587
-
39,587
51,564
TOTAL
396,679
129,320
525,999
562,950
unrestricted
funds
restricted
funds
2020 total
2019 total		 3.
THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION
notes
£
£
£
£
CHARITABLE GIVING
Benevolent Fund
11/17
-
-
-
1,720
JMA
-
-
-
1,296
External Giving
-
-
-
5,000
-
-
-
8,016
MINISTRY
Circuit Assessment (Circuit/District/Conn
12
72,500
-
72,500
80,266
Staffing costs
13
107,068
68,309
175,376
200,131
BCH Methodist Church costs costs
4,998
-
4,998
10,289
Direct Social Relief
2,842
-
2,842
7,895
South London Mission Running Costs
14,562
-
14,562
12,069
Cluny Place House running costs
37,951
-
37,951
32,094
-
-
-
-
239,920
68,309
308,228
342,744
VENTURE FX
Venture FX Staffing Costs
13
-
52,662
52,662
41,857
Project Costs
-
8,350
8,350
12,493
-
61,011
61,011
54,350
PREMISES
Insurance
8,068
-
8,068
8,195
Cleaning Supplies
8,310
-
8,310
9,471
Repairs/Maintenance (not CPH)
30,053
-
30,053
32,649
Utilities
61,705
-
61,705
48,569
Depreciation
6,211
6,211
4,330
Local Authority Rates
2,827
-
2,827
3,063
117,173
-
117,173
106,277
ADMINISTRATION
Printing, photocopying & Stationery
838
-
838
3,696
Telecoms
3,275
-
3,275
3,086
Banking, Governance & Professional Fees
21,916
-
21,916
34,238
IT, Hardware,subscriptions and sundries
2,434
-
2,434
10,544
Bad debt write-off
7
11,123
-
11,123
-
39,587
-
39,587
51,564
TOTAL
396,679
129,320
525,999
562,950
unrestricted
funds
restricted
funds
2020 total
2019 total		 3.
THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION
notes
£
£
£
£
CHARITABLE GIVING
Benevolent Fund
11/17
-
-
-
1,720
JMA
-
-
-
1,296
External Giving
-
-
-
5,000
-
-
-
8,016
MINISTRY
Circuit Assessment (Circuit/District/Conn
12
72,500
-
72,500
80,266
Staffing costs
13
107,068
68,309
175,376
200,131
BCH Methodist Church costs costs
4,998
-
4,998
10,289
Direct Social Relief
2,842
-
2,842
7,895
South London Mission Running Costs
14,562
-
14,562
12,069
Cluny Place House running costs
37,951
-
37,951
32,094
-
-
-
-
239,920
68,309
308,228
342,744
VENTURE FX
Venture FX Staffing Costs
13
-
52,662
52,662
41,857
Project Costs
-
8,350
8,350
12,493
-
61,011
61,011
54,350
PREMISES
Insurance
8,068
-
8,068
8,195
Cleaning Supplies
8,310
-
8,310
9,471
Repairs/Maintenance (not CPH)
30,053
-
30,053
32,649
Utilities
61,705
-
61,705
48,569
Depreciation
6,211
6,211
4,330
Local Authority Rates
2,827
-
2,827
3,063
117,173
-
117,173
106,277
ADMINISTRATION
Printing, photocopying & Stationery
838
-
838
3,696
Telecoms
3,275
-
3,275
3,086
Banking, Governance & Professional Fees
21,916
-
21,916
34,238
IT, Hardware,subscriptions and sundries
2,434
-
2,434
10,544
Bad debt write-off
7
11,123
-
11,123
-
39,587
-
39,587
51,564
TOTAL
396,679
129,320
525,999
562,950
unrestricted
funds
restricted
funds
2020 total
2019 total		 3.
THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION
notes
£
£
£
£
CHARITABLE GIVING
Benevolent Fund
11/17
-
-
-
1,720
JMA
-
-
-
1,296
External Giving
-
-
-
5,000
-
-
-
8,016
MINISTRY
Circuit Assessment (Circuit/District/Conn
12
72,500
-
72,500
80,266
Staffing costs
13
107,068
68,309
175,376
200,131
BCH Methodist Church costs costs
4,998
-
4,998
10,289
Direct Social Relief
2,842
-
2,842
7,895
South London Mission Running Costs
14,562
-
14,562
12,069
Cluny Place House running costs
37,951
-
37,951
32,094
-
-
-
-
239,920
68,309
308,228
342,744
VENTURE FX
Venture FX Staffing Costs
13
-
52,662
52,662
41,857
Project Costs
-
8,350
8,350
12,493
-
61,011
61,011
54,350
PREMISES
Insurance
8,068
-
8,068
8,195
Cleaning Supplies
8,310
-
8,310
9,471
Repairs/Maintenance (not CPH)
30,053
-
30,053
32,649
Utilities
61,705
-
61,705
48,569
Depreciation
6,211
6,211
4,330
Local Authority Rates
2,827
-
2,827
3,063
117,173
-
117,173
106,277
ADMINISTRATION
Printing, photocopying & Stationery
838
-
838
3,696
Telecoms
3,275
-
3,275
3,086
Banking, Governance & Professional Fees
21,916
-
21,916
34,238
IT, Hardware,subscriptions and sundries
2,434
-
2,434
10,544
Bad debt write-off
7
11,123
-
11,123
-
39,587
-
39,587
51,564
TOTAL
396,679
129,320
525,999
562,950
unrestricted
funds
restricted
funds
2020 total
2019 total		 3.
THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION
notes
£
£
£
£
CHARITABLE GIVING
Benevolent Fund
11/17
-
-
-
1,720
JMA
-
-
-
1,296
External Giving
-
-
-
5,000
-
-
-
8,016
MINISTRY
Circuit Assessment (Circuit/District/Conn
12
72,500
-
72,500
80,266
Staffing costs
13
107,068
68,309
175,376
200,131
BCH Methodist Church costs costs
4,998
-
4,998
10,289
Direct Social Relief
2,842
-
2,842
7,895
South London Mission Running Costs
14,562
-
14,562
12,069
Cluny Place House running costs
37,951
-
37,951
32,094
-
-
-
-
239,920
68,309
308,228
342,744
VENTURE FX
Venture FX Staffing Costs
13
-
52,662
52,662
41,857
Project Costs
-
8,350
8,350
12,493
-
61,011
61,011
54,350
PREMISES
Insurance
8,068
-
8,068
8,195
Cleaning Supplies
8,310
-
8,310
9,471
Repairs/Maintenance (not CPH)
30,053
-
30,053
32,649
Utilities
61,705
-
61,705
48,569
Depreciation
6,211
6,211
4,330
Local Authority Rates
2,827
-
2,827
3,063
117,173
-
117,173
106,277
ADMINISTRATION
Printing, photocopying & Stationery
838
-
838
3,696
Telecoms
3,275
-
3,275
3,086
Banking, Governance & Professional Fees
21,916
-
21,916
34,238
IT, Hardware,subscriptions and sundries
2,434
-
2,434
10,544
Bad debt write-off
7
11,123
-
11,123
-
39,587
-
39,587
51,564
TOTAL
396,679
129,320
525,999
562,950
unrestricted
funds
restricted
funds
2020 total
2019 total
-
-
-
1,720
-
-
-
1,296
-
-
-
5,000
-
-
-
8,016
72,500
107,068
4,998
2,842
14,562
37,951
-		 -
68,309
-
-
-
-
-		 72,500
175,376
4,998
2,842
14,562
37,951
-		 80,266
200,131
10,289
7,895
12,069
32,094
-
239,920
68,309
308,228
342,744
-
-		 52,662
8,350		 52,662
8,350		 41,857
12,493
-
61,011
61,011
54,350
8,068
8,310
30,053
61,705
6,211
2,827		 -
-
-
-
-		 8,068
8,310
30,053
61,705
6,211
2,827		 8,195
9,471
32,649
48,569
4,330
3,063
117,173
-
117,173
106,277
838
3,275
21,916
2,434
11,123		 -
-
-
-
-		 838
3,275
21,916
2,434
11,123		 3,696
3,086
34,238
10,544
-
39,587
-
39,587
51,564
396,679
129,320
525,999
562,950

In the 2019 FY, £54,350 of expenditure on the work of the church related to restricted funds, with the balance of £506,122 relating to unrestricted funds.

17

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020 (continued)

4. SUPPORT COSTS

BERMONDSEY CENTRAL HALL METHODIST CHURCH
NOTES TO THE ACCOUNTS for the year ended 31st August
(continued)
 2020
SUPPORT COSTS
Staffing costs
Administration costs (total as above)
All support costs are for the work of the church		 2020
£
113,186
7,255
120,441		 2019
£
81,547
10,333
91,880

Included within administration costs is £960 (2019: £1,260) for the examiner's remuneration.

5. TANGIBLE ASSETS & INVESTMENTS

Cost or valuation
Balance at 1st September 2019
Revaluation
Additions
Disposals
Balance at 31st August 2020
Depreciation
Balance at 1st September 2019
Charge for the year
Released on disposal
Balance at 31st August 2020
Net book value
At 1st September 2019
At 31st August 2020
NOTES		 £
27,766
-
65,400
93,166
9,255
6,211
-
15,466
18,511
77,700
Premises
Improvements		 £
18,683
-
-
18,683
-
18,683
-
18,683
-
-
-
Minibus		 £
46,449
-
65,400
18,683
total
93,166
27,938
6,211
18,683
15,466
18,511
77,700

6. FIXED ASSET INVESTMENTS

Valuation
At September 2019
Net gain on revaluations
At 31 August 2020
Historical cost		 2020
£
37,801		 Other
Investments
£
58,933
(6,271)
52,662
2019
£
37,801

Bermondsey Central Hall Premises

The Church Council has control over and responsibility for the premises of Bermondsey Central Hall which is excluded from the accounts by virtue of s.10(2) of the Charities Act 2011. The freehold of Bermondsey Central Hall' is ultimately vested in the Trustees for Methodist Church Purposes. Major improvements to the premises are capitalised and depreciated over their estimated useful life.

18

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020

(continued)

7. DEBTORS

Prepayments
Resident Room Fees & Commercial Lets
Loans
Gift Aid
Grants (CJRS)
Bad debt write-off
8.
CREDITORS due within one year
Circuit Assessment
Sundry creditors & Accruals
Deferred Income
9.
CREDITORS due after more than a year
Creditors due after more than a year		 2020
£
-
61,348
6,043
3,347
11,363
(11,123)
70,979
2020
£
30,000
960
1,917
32,877
2020
£
-
-		 2019
£
-
48,062
8,551
12,277
-
68,890
2019
£
-
5,940
1,923
7,863
2019
£
-
-

10. ANALYSIS OF NET ASSETS BY FUND as at 31st August 2020

Tangible fixed asset inveastments
Tangible fixed assets
Current assets
Current liabilities
Long term liabilities		 general
designated
£
£
52,662
77,700
314,825
22,534
(32,877)
-
-
-
412,310
22,534
unrestricted funds		 £
-
39,411
-
-
39,411
restricted
funds		 total
£
52,662
77,700
376,770
(32,877)
-
474,255

19

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020 (continued)

11. MOVEMENT OF FUNDS DURING THE YEAR

UNRESTRICTED FUNDS
General funds
Designated funds:
Minibus Fund
Total designated funds
Total unrestricted funds
RESTRICTED FUNDS
Hollyman & Lidyard
Venture FX
Special Collections
CVJRS
Total restricted funds
TOTAL		 £
356,537
balance b/f		 £
356,537
balance b/f		 £
459,224
income		 £
459,224
income		 £
(396,679)
expenditure		 £
(396,679)
expenditure		 £
(6,771)
transfers and
revaluations		 £
(6,771)
transfers and
revaluations		 £
412,311
balance c/f
22,534 - - - 22,534
22,534
379,071
3,093
49,406
-
-
52,499
431,570		 -
459,224
27
47,396
-
68,309
115,732
574,955		 -
(396,679)
-
(61,011)
-
(68,309)
(129,320)
(525,999)		 -
(6,771)
-
500
-
-
500
(6,271)		 22,534
434,845
3,120
36,291
-
-
39,411
474,255

UNRESTRICTED FUNDS

General

This is the main fund of the Bermondsey Central Hall Methodist Church and there is no restriction on its use.

Designated

These are funds set aside by BCH for a special purpose.

RESTRICTED FUNDS

Special collections

This fund amalgamates special collections made by the church for special appeals. The disbursements made from such gifts during the year are listed in note 16.

Venture FX

This fund contains all income and expenditure for projects under the banner 'Venture FX'. These projects are overseen by the Venture FX worker and her management group. Income is primarily grant based.

CVJRS

This fund contains the grant income provided by HMRC through the Coronavirus Job Retention Scheme and the corresponding expenditure on staff salaries.

20

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020 (continued)

12. CIRCUIT ASSESSMENT

Bermondsey Central Hall is a church in the Methodist Circuit of Southwark and Deptford. It contribuites, by means of Circuit Assessment, to the operational costs of the circuit , district and connexion which predominantly helps the funding of presbyters (ministers). In the 2020 FY, the amount paid by BCHMC was £72,500 (2019: £80,266). The Methodist Connexion meets the stipend and other employment costs of the Minister of BCH and provides their housing. The amount by which BCH’s contribution exceeds these costs and other apportioned Circuit, District and Connexional costs, goes towards the mission of the wider Methodist Church, helping subsidise church congregations who cannot afford their own ministry contributions.

13. STAFF COSTS

Salaries and Stipends
Employers NIC
Pension contributions
Temp Agency
Staff expenses and recruitment
Total		 2020
£
195,536
17,119
8,142
-
802
221,600		 2019
£
200,927
16,551
9,169
18,221
4,726
249,593
No employee earned £60,000 or more.
Staff Numbers - average head count
Office
Saturday School
Direct Social Relief
Cluny Place House		 2020
3
7
2
2
14		 2019
3
7
2
2
14

14. KEY MANAGEMENT PERSONNEL

The charity’s key management personnel comprise the minister and senior members of the staff team. Total remuneration paid to key management personnel was £70,939 (2019: £62,900).

15. TRUSTEE EXPENSES & RELATED PARTIES TRANSACTIONS

A total of 5 trustees claimed 'out-of-pocket' expenses totalling £3787.44 in the course of duties performed as employees or volunteers on behalf of the church or in reimbursement for items procured for the church . (2018-2019: 8 trustees claimed 'out-of-pocket' expenses totalling £9349.56)

16. TRUSTEE DONATIONS

The aggregate value of donations made by Church Council members for this financial year was £4,523.50 from 18 trustees (2018-2019: £9212.70 from 18 trustees).

21

BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the year ended 31st August 2020 (continued)

17. TRUSTEE REMUNERATION

The following 7 trustees (or connected persons) received remuneration for an employment with the charity. These figures are inclusive of NI (£11,764) and Pension (£6082)

W Webber
H C Shaw
P Baffoe
W Baffoe
R Thomas
L Kargbo
C Venn		 2020
2019
28,111
27,562
24,818
24,333
42,287
33,562
42,653
41,818
2,523
2,474
2,061
2,021
2,061
2,021
144,516
133,791

18. SPECIAL COLLECTIONS

Amounts disbursed during the year:
JMA
Benevolent Fund		 2020
£
-
-
-		 2019
£
1,296
1,720
3,016

19. EVENTS AFTER REPORTING PERIOD

The Covid-19 Pandemic continues to provide significant challenges for the charity, Post August 2020, the UK re-entered national lockdowns in November 2020 and again in January 2021, which is still ongoing at the point of publication of these accounts. The charity is continuing to make use of the CVJRS grant to support partial furlough of some of our staff and the F&G committee will meet regularly during 2021 to consider areas of risk management with a particular focus on income levels and expenditure.

22