# **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|



* Subject to the six year rule.   T=Trustee 

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: 

- The transformation of lives, churches and communities; 

- Becoming Christ-centred, mission orientated and outward looking; 

- Deepening relationships with God and with others; 

- Transparency, trust and teamwork; 

- Courageous leadership and strategic thinking; 

- Engaging with the changing nature of the communities we serve; 

- Working with those who share our goals and aspirations 

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: 

- Approximately £52,662 are long term investments which produce an annual income for the charity but reduced in value in the financial year 

- £70,979 represents debtors to the charity, most of which are resident room fees. Due to the commercial reality that a proportion of this debt was unlikely to be realized the finance and governance committee agreed to write off circa £11K in 2020. 

- £36,291 is held as a restricted fund for the Venture FX project. 

- The remainder of the balance sheet is cash deposited across a range of bank accounts and saving products. This cash is held to meet our reserves policy, to smooth out cash-flow and in preparation for any larger maintenance issues which may occur with the building. 

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**<br>**INCOME AND ENDOWMENTS FROM:**<br>2<br>Donations and legacies<br>Investments<br>Grants<br>Activities<br>**TOTAL INCOME AND ENDOWMENTS**<br>**EXPENDITURE ON:**<br>Charitable activities<br>3/4<br>**TOTAL EXPENDITURE**<br>**Loss on disposal of fixed assets**<br>5<br>**Gains on revaluation of investments**<br>6<br>**Reconciliation of funds:**<br>BALANCE AT 1st September 2019<br>11<br>Transfers between funds<br>**BALANCE AT 31st August 2020**<br>11<br>**NET INCOME before transfers**<br>**NET MOVEMENT IN FUNDS FOR**<br>**THE YEAR**|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|
|---|---|---|---|---|
||73,681<br>381,522<br>-<br>4,020|310<br>27<br>113,891<br>1,504|73,991<br>381,549<br>113,891<br>5,525|70,728<br>410,894<br>67,661<br>5,898|
||459,224<br>115,732<br>574,955<br>555,180||||
||396,679<br>129,320<br>525,999|||562,950|
||396,679<br>129,320<br>525,999<br>562,950<br>62,545<br>(13,588)<br>48,956<br>(7,770)<br>-<br>-<br>(2,466)<br>(6,271)<br>-<br>(6,271)<br>2,479||||
||56,273<br>(13,588)<br>42,685<br>(6,761)<br>379,071<br>52,499<br>431,570<br>438,332<br>(500)<br>500<br>-<br>-||||
||434,845<br>39,411<br>474,255<br>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**<br>**FIXED ASSETS**<br>Tangible fixed assets<br>5<br>Investments<br>6<br>**CURRENT ASSETS**<br>Debtors<br>7<br>Cash at bank<br>**CREDITORS**due within one year<br>8<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS**less**CURRENT LIABILITIES**<br>**CREDITORS**due after one year<br>9<br>**NET ASSETS**<br>10<br>**FUNDS**<br>11<br>**Unrestricted**<br>General<br>Designated<br>**Restricted**<br>Specific|**2020**<br>**2019**<br>**£**<br>**£**<br>77,700<br>18,511<br>52,662<br>58,933|**2020**<br>**2019**<br>**£**<br>**£**<br>77,700<br>18,511<br>52,662<br>58,933|
|---|---|---|
||70,979<br>305,791|68,890<br>293,099|
||376,770<br>361,989<br>32,877<br>7,863||
||343,893<br>354,126<br>474,255<br>431,570<br>-<br>-||
||474,255<br>431,570||
||||
||412,311<br>22,534|356,537<br>22,534|
||434,845<br>379,071<br>39,411<br>52,499||
||474,255<br>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 

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

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

- (i) _**Donations**_ 

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** 

- (i) Grants and outward giving are accounted for in the SOFA when paid, unless an obligation, whether constructive or legal, exists to the recipient in accordance with the Charities SORP and FRS 102. 

- (ii) Parish Share and other costs directly relating to the work and activities of the Church are accounted for when they are incurred or become due and payable. 

## **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**<br>Donations & Gifts<br>Legacies Receivable<br>Gift Aid<br>Church Offering<br>**INCOME FROM PROPERTY / INVESTMENTS**<br>Interest & Investment Income<br>Residents<br>Other Commercial Hire<br>Other<br>**Venture FX**<br>Venture FX Grants<br>Venture FX Donations<br>**Activities and Events**<br>Venture FX Activity<br>Other<br>Sunday School<br>**Government Grants**<br>CJRS (HMRC)<br>**TOTAL**<br>Special collections & support|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|**unrestricted**<br>**restricted**<br>**2020**<br>**2019**<br>**funds**<br>**funds**<br>**total**<br>**total**<br>**£**<br>**£**<br>**£**<br>**£**|
|---|---|---|---|---|
||24,174<br>27,808<br>5,600<br>14,454<br>1,645|-<br>-<br>-<br>-<br>-|24,174<br>27,808<br>5,600<br>14,454<br>1,645|17,256<br>9,030<br>12,277<br>29,292<br>1,716|
||73,681<br>-||73,681<br>69,572||
||3,786<br>210,328<br>167,408<br>-|27<br>-<br>-<br>-|3,813<br>210,328<br>167,408<br>-|4,713<br>214,890<br>190,390<br>900|
||381,522<br>27||381,549<br>410,894||
||-<br>-|45,582<br>310|45,582<br>310|67,661<br>1,156|
||-<br>45,892||45,892<br>68,817||
||-<br>2,055<br>1,965|1,504<br>-<br>-|1,504<br>2,055<br>1,965|500<br>3,158<br>2,240|
||4,020<br>1,504||5,525<br>5,898||
|||68,309|68,309|-|
||||||
||459,224<br>115,732||574,955<br>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.**<br>**THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION**<br>**notes**<br>**£**<br>**£**<br>**£**<br>**£**<br>**CHARITABLE GIVING**<br>Benevolent Fund<br>11/17<br>-<br>-<br>-<br>1,720<br>JMA<br>-<br>-<br>-<br>1,296<br>External Giving<br>-<br>-<br>-<br>5,000<br>-<br>-<br>-<br>8,016<br>**MINISTRY**<br>Circuit Assessment (Circuit/District/Conn<br>12<br>72,500<br>-<br>72,500<br>80,266<br>Staffing costs<br>13<br>107,068<br>68,309<br>175,376<br>200,131<br>BCH Methodist Church costs costs<br>4,998<br>-<br>4,998<br>10,289<br>Direct Social Relief<br>2,842<br>-<br>2,842<br>7,895<br>South London Mission Running Costs<br>14,562<br>-<br>14,562<br>12,069<br>Cluny Place House running costs<br>37,951<br>-<br>37,951<br>32,094<br>-<br>-<br>-<br>-<br>239,920<br>68,309<br>308,228<br>342,744<br>**VENTURE FX**<br>Venture FX Staffing Costs<br>13<br>-<br>52,662<br>52,662<br>41,857<br>Project Costs<br>-<br>8,350<br>8,350<br>12,493<br>-<br>61,011<br>61,011<br>54,350<br>**PREMISES**<br>Insurance<br>8,068<br>-<br>8,068<br>8,195<br>Cleaning Supplies<br>8,310<br>-<br>8,310<br>9,471<br>Repairs/Maintenance (not CPH)<br>30,053<br>-<br>30,053<br>32,649<br>Utilities<br>61,705<br>-<br>61,705<br>48,569<br>Depreciation<br>6,211<br>6,211<br>4,330<br>Local Authority Rates<br>2,827<br>-<br>2,827<br>3,063<br>117,173<br>-<br>117,173<br>106,277<br>**ADMINISTRATION**<br>Printing, photocopying & Stationery<br>838<br>-<br>838<br>3,696<br>Telecoms<br>3,275<br>-<br>3,275<br>3,086<br>Banking, Governance & Professional Fees<br>21,916<br>-<br>21,916<br>34,238<br>IT, Hardware,subscriptions and sundries<br>2,434<br>-<br>2,434<br>10,544<br>Bad debt write-off<br>7<br>11,123<br>-<br>11,123<br>-<br>39,587<br>-<br>39,587<br>51,564<br>**TOTAL**<br>396,679<br>129,320<br>525,999<br>562,950<br>**unrestricted**<br>**funds**<br>**restricted**<br>**funds**<br>**2020 total**<br>**2019 total**|**3.**<br>**THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION**<br>**notes**<br>**£**<br>**£**<br>**£**<br>**£**<br>**CHARITABLE GIVING**<br>Benevolent Fund<br>11/17<br>-<br>-<br>-<br>1,720<br>JMA<br>-<br>-<br>-<br>1,296<br>External Giving<br>-<br>-<br>-<br>5,000<br>-<br>-<br>-<br>8,016<br>**MINISTRY**<br>Circuit Assessment (Circuit/District/Conn<br>12<br>72,500<br>-<br>72,500<br>80,266<br>Staffing costs<br>13<br>107,068<br>68,309<br>175,376<br>200,131<br>BCH Methodist Church costs costs<br>4,998<br>-<br>4,998<br>10,289<br>Direct Social Relief<br>2,842<br>-<br>2,842<br>7,895<br>South London Mission Running Costs<br>14,562<br>-<br>14,562<br>12,069<br>Cluny Place House running costs<br>37,951<br>-<br>37,951<br>32,094<br>-<br>-<br>-<br>-<br>239,920<br>68,309<br>308,228<br>342,744<br>**VENTURE FX**<br>Venture FX Staffing Costs<br>13<br>-<br>52,662<br>52,662<br>41,857<br>Project Costs<br>-<br>8,350<br>8,350<br>12,493<br>-<br>61,011<br>61,011<br>54,350<br>**PREMISES**<br>Insurance<br>8,068<br>-<br>8,068<br>8,195<br>Cleaning Supplies<br>8,310<br>-<br>8,310<br>9,471<br>Repairs/Maintenance (not CPH)<br>30,053<br>-<br>30,053<br>32,649<br>Utilities<br>61,705<br>-<br>61,705<br>48,569<br>Depreciation<br>6,211<br>6,211<br>4,330<br>Local Authority Rates<br>2,827<br>-<br>2,827<br>3,063<br>117,173<br>-<br>117,173<br>106,277<br>**ADMINISTRATION**<br>Printing, photocopying & Stationery<br>838<br>-<br>838<br>3,696<br>Telecoms<br>3,275<br>-<br>3,275<br>3,086<br>Banking, Governance & Professional Fees<br>21,916<br>-<br>21,916<br>34,238<br>IT, Hardware,subscriptions and sundries<br>2,434<br>-<br>2,434<br>10,544<br>Bad debt write-off<br>7<br>11,123<br>-<br>11,123<br>-<br>39,587<br>-<br>39,587<br>51,564<br>**TOTAL**<br>396,679<br>129,320<br>525,999<br>562,950<br>**unrestricted**<br>**funds**<br>**restricted**<br>**funds**<br>**2020 total**<br>**2019 total**|**3.**<br>**THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION**<br>**notes**<br>**£**<br>**£**<br>**£**<br>**£**<br>**CHARITABLE GIVING**<br>Benevolent Fund<br>11/17<br>-<br>-<br>-<br>1,720<br>JMA<br>-<br>-<br>-<br>1,296<br>External Giving<br>-<br>-<br>-<br>5,000<br>-<br>-<br>-<br>8,016<br>**MINISTRY**<br>Circuit Assessment (Circuit/District/Conn<br>12<br>72,500<br>-<br>72,500<br>80,266<br>Staffing costs<br>13<br>107,068<br>68,309<br>175,376<br>200,131<br>BCH Methodist Church costs costs<br>4,998<br>-<br>4,998<br>10,289<br>Direct Social Relief<br>2,842<br>-<br>2,842<br>7,895<br>South London Mission Running Costs<br>14,562<br>-<br>14,562<br>12,069<br>Cluny Place House running costs<br>37,951<br>-<br>37,951<br>32,094<br>-<br>-<br>-<br>-<br>239,920<br>68,309<br>308,228<br>342,744<br>**VENTURE FX**<br>Venture FX Staffing Costs<br>13<br>-<br>52,662<br>52,662<br>41,857<br>Project Costs<br>-<br>8,350<br>8,350<br>12,493<br>-<br>61,011<br>61,011<br>54,350<br>**PREMISES**<br>Insurance<br>8,068<br>-<br>8,068<br>8,195<br>Cleaning Supplies<br>8,310<br>-<br>8,310<br>9,471<br>Repairs/Maintenance (not CPH)<br>30,053<br>-<br>30,053<br>32,649<br>Utilities<br>61,705<br>-<br>61,705<br>48,569<br>Depreciation<br>6,211<br>6,211<br>4,330<br>Local Authority Rates<br>2,827<br>-<br>2,827<br>3,063<br>117,173<br>-<br>117,173<br>106,277<br>**ADMINISTRATION**<br>Printing, photocopying & Stationery<br>838<br>-<br>838<br>3,696<br>Telecoms<br>3,275<br>-<br>3,275<br>3,086<br>Banking, Governance & Professional Fees<br>21,916<br>-<br>21,916<br>34,238<br>IT, Hardware,subscriptions and sundries<br>2,434<br>-<br>2,434<br>10,544<br>Bad debt write-off<br>7<br>11,123<br>-<br>11,123<br>-<br>39,587<br>-<br>39,587<br>51,564<br>**TOTAL**<br>396,679<br>129,320<br>525,999<br>562,950<br>**unrestricted**<br>**funds**<br>**restricted**<br>**funds**<br>**2020 total**<br>**2019 total**|**3.**<br>**THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION**<br>**notes**<br>**£**<br>**£**<br>**£**<br>**£**<br>**CHARITABLE GIVING**<br>Benevolent Fund<br>11/17<br>-<br>-<br>-<br>1,720<br>JMA<br>-<br>-<br>-<br>1,296<br>External Giving<br>-<br>-<br>-<br>5,000<br>-<br>-<br>-<br>8,016<br>**MINISTRY**<br>Circuit Assessment (Circuit/District/Conn<br>12<br>72,500<br>-<br>72,500<br>80,266<br>Staffing costs<br>13<br>107,068<br>68,309<br>175,376<br>200,131<br>BCH Methodist Church costs costs<br>4,998<br>-<br>4,998<br>10,289<br>Direct Social Relief<br>2,842<br>-<br>2,842<br>7,895<br>South London Mission Running Costs<br>14,562<br>-<br>14,562<br>12,069<br>Cluny Place House running costs<br>37,951<br>-<br>37,951<br>32,094<br>-<br>-<br>-<br>-<br>239,920<br>68,309<br>308,228<br>342,744<br>**VENTURE FX**<br>Venture FX Staffing Costs<br>13<br>-<br>52,662<br>52,662<br>41,857<br>Project Costs<br>-<br>8,350<br>8,350<br>12,493<br>-<br>61,011<br>61,011<br>54,350<br>**PREMISES**<br>Insurance<br>8,068<br>-<br>8,068<br>8,195<br>Cleaning Supplies<br>8,310<br>-<br>8,310<br>9,471<br>Repairs/Maintenance (not CPH)<br>30,053<br>-<br>30,053<br>32,649<br>Utilities<br>61,705<br>-<br>61,705<br>48,569<br>Depreciation<br>6,211<br>6,211<br>4,330<br>Local Authority Rates<br>2,827<br>-<br>2,827<br>3,063<br>117,173<br>-<br>117,173<br>106,277<br>**ADMINISTRATION**<br>Printing, photocopying & Stationery<br>838<br>-<br>838<br>3,696<br>Telecoms<br>3,275<br>-<br>3,275<br>3,086<br>Banking, Governance & Professional Fees<br>21,916<br>-<br>21,916<br>34,238<br>IT, Hardware,subscriptions and sundries<br>2,434<br>-<br>2,434<br>10,544<br>Bad debt write-off<br>7<br>11,123<br>-<br>11,123<br>-<br>39,587<br>-<br>39,587<br>51,564<br>**TOTAL**<br>396,679<br>129,320<br>525,999<br>562,950<br>**unrestricted**<br>**funds**<br>**restricted**<br>**funds**<br>**2020 total**<br>**2019 total**|**3.**<br>**THE WORK OF BERMONDSEY CH METHODIST CHURCH & THE SOUTH LONDON MISSION**<br>**notes**<br>**£**<br>**£**<br>**£**<br>**£**<br>**CHARITABLE GIVING**<br>Benevolent Fund<br>11/17<br>-<br>-<br>-<br>1,720<br>JMA<br>-<br>-<br>-<br>1,296<br>External Giving<br>-<br>-<br>-<br>5,000<br>-<br>-<br>-<br>8,016<br>**MINISTRY**<br>Circuit Assessment (Circuit/District/Conn<br>12<br>72,500<br>-<br>72,500<br>80,266<br>Staffing costs<br>13<br>107,068<br>68,309<br>175,376<br>200,131<br>BCH Methodist Church costs costs<br>4,998<br>-<br>4,998<br>10,289<br>Direct Social Relief<br>2,842<br>-<br>2,842<br>7,895<br>South London Mission Running Costs<br>14,562<br>-<br>14,562<br>12,069<br>Cluny Place House running costs<br>37,951<br>-<br>37,951<br>32,094<br>-<br>-<br>-<br>-<br>239,920<br>68,309<br>308,228<br>342,744<br>**VENTURE FX**<br>Venture FX Staffing Costs<br>13<br>-<br>52,662<br>52,662<br>41,857<br>Project Costs<br>-<br>8,350<br>8,350<br>12,493<br>-<br>61,011<br>61,011<br>54,350<br>**PREMISES**<br>Insurance<br>8,068<br>-<br>8,068<br>8,195<br>Cleaning Supplies<br>8,310<br>-<br>8,310<br>9,471<br>Repairs/Maintenance (not CPH)<br>30,053<br>-<br>30,053<br>32,649<br>Utilities<br>61,705<br>-<br>61,705<br>48,569<br>Depreciation<br>6,211<br>6,211<br>4,330<br>Local Authority Rates<br>2,827<br>-<br>2,827<br>3,063<br>117,173<br>-<br>117,173<br>106,277<br>**ADMINISTRATION**<br>Printing, photocopying & Stationery<br>838<br>-<br>838<br>3,696<br>Telecoms<br>3,275<br>-<br>3,275<br>3,086<br>Banking, Governance & Professional Fees<br>21,916<br>-<br>21,916<br>34,238<br>IT, Hardware,subscriptions and sundries<br>2,434<br>-<br>2,434<br>10,544<br>Bad debt write-off<br>7<br>11,123<br>-<br>11,123<br>-<br>39,587<br>-<br>39,587<br>51,564<br>**TOTAL**<br>396,679<br>129,320<br>525,999<br>562,950<br>**unrestricted**<br>**funds**<br>**restricted**<br>**funds**<br>**2020 total**<br>**2019 total**|
|---|---|---|---|---|
||-<br>-<br>-<br>1,720<br>-<br>-<br>-<br>1,296<br>-<br>-<br>-<br>5,000||||
||-<br>-<br>-<br>8,016||||
||72,500<br>107,068<br>4,998<br>2,842<br>14,562<br>37,951<br>-|-<br>68,309<br>-<br>-<br>-<br>-<br>-|72,500<br>175,376<br>4,998<br>2,842<br>14,562<br>37,951<br>-|80,266<br>200,131<br>10,289<br>7,895<br>12,069<br>32,094<br>-|
||239,920<br>68,309<br>308,228<br>342,744||||
||-<br>-|52,662<br>8,350|52,662<br>8,350|41,857<br>12,493|
||-<br>61,011<br>61,011<br>54,350||||
||8,068<br>8,310<br>30,053<br>61,705<br>6,211<br>2,827|-<br>-<br>-<br>-<br>-|8,068<br>8,310<br>30,053<br>61,705<br>6,211<br>2,827|8,195<br>9,471<br>32,649<br>48,569<br>4,330<br>3,063|
||117,173<br>-<br>117,173<br>106,277||||
||838<br>3,275<br>21,916<br>2,434<br>11,123|-<br>-<br>-<br>-<br>-|838<br>3,275<br>21,916<br>2,434<br>11,123|3,696<br>3,086<br>34,238<br>10,544<br>-|
||39,587<br>-<br>39,587<br>51,564||||
||396,679<br>129,320<br>525,999<br>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**<br>**NOTES TO THE ACCOUNTS for the year ended 31st August**<br>**(continued)**<br>|**2020**||
|---|---|---|
|**SUPPORT COSTS**<br>Staffing costs<br>Administration costs (total as above)<br>All support costs are for the work of the church|**2020**<br>**£**<br>113,186<br>7,255<br>120,441|**2019**<br>**£**<br>81,547<br>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**<br>Balance at 1st September 2019<br>Revaluation<br>Additions<br>Disposals<br>Balance at 31st August 2020<br>**Depreciation**<br>Balance at 1st September 2019<br>Charge for the year<br>Released on disposal<br>Balance at 31st August 2020<br>**Net book value**<br>At 1st September 2019<br>At 31st August 2020<br>**NOTES**|**£**<br>27,766<br>-<br>65,400<br>93,166<br>9,255<br>6,211<br>-<br>15,466<br>18,511<br>77,700<br>**Premises**<br>**Improvements**|**£**<br>18,683<br>-<br>-<br>18,683<br>-<br>18,683<br>-<br>18,683<br>-<br>-<br>-<br>**Minibus**|**£**<br>46,449<br>-<br>65,400<br>18,683<br>**total**|
|---|---|---|---|
||||93,166|
||||27,938<br>6,211<br>18,683|
||||15,466|
||||18,511|
||||77,700|
|||||



## **6. FIXED ASSET INVESTMENTS** 

|**Valuation**<br>At September 2019<br>Net gain on revaluations<br>At 31 August 2020<br>Historical cost|**2020**<br>**£**<br>37,801|**Other**<br>**Investments**<br>**£**<br>58,933<br>(6,271)|
|---|---|---|
|||52,662|
|||**2019**<br>**£**<br>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<br>Resident Room Fees & Commercial Lets<br>Loans<br>Gift Aid<br>Grants (CJRS)<br>Bad debt write-off<br>**8.**<br>**CREDITORS due within one year**<br>Circuit Assessment<br>Sundry creditors & Accruals<br>Deferred Income<br>**9.**<br>**CREDITORS due after more than a year**<br>Creditors due after more than a year|**2020**<br>**£**<br>-<br>61,348<br>6,043<br>3,347<br>11,363<br>(11,123)<br>70,979<br>**2020**<br>**£**<br>30,000<br>960<br>1,917<br>32,877<br>**2020**<br>**£**<br>-<br>-|**2019**<br>**£**<br>-<br>48,062<br>8,551<br>12,277<br>-|
|---|---|---|
|||68,890|
|||**2019**<br>**£**<br>-<br>5,940<br>1,923|
|||7,863|
|||**2019**<br>**£**<br>-|
|||-|



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

|Tangible fixed asset inveastments<br>Tangible fixed assets<br>Current assets<br>Current liabilities<br>Long term liabilities|**general**<br>**designated**<br>**£**<br>**£**<br>52,662<br>77,700<br>314,825<br>22,534<br>(32,877)<br>-<br>-<br>-<br>412,310<br>22,534<br>**unrestricted funds**|**£**<br>-<br>39,411<br>-<br>-<br>39,411<br>**restricted**<br>**funds**|**total**<br>**£**<br>52,662<br>77,700<br>376,770<br>(32,877)<br>-|
|---|---|---|---|
||||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**<br>General funds<br>Designated funds:<br>Minibus Fund<br>Total designated funds<br>_Total unrestricted funds_<br>**RESTRICTED FUNDS**<br>Hollyman & Lidyard<br>Venture FX<br>Special Collections<br>CVJRS<br>_Total restricted funds_<br>**TOTAL**|**£**<br>356,537<br>**balance b/f**|**£**<br>356,537<br>**balance b/f**|**£**<br>459,224<br>**income**|**£**<br>459,224<br>**income**|**£**<br>(396,679)<br>**expenditure**|**£**<br>(396,679)<br>**expenditure**|**£**<br>(6,771)<br>**transfers and**<br>**revaluations**|**£**<br>(6,771)<br>**transfers and**<br>**revaluations**|**£**<br>412,311<br>**balance c/f**|
|---|---|---|---|---|---|---|---|---|---|
||22,534||-||-||-||22,534|
||22,534<br>379,071<br>3,093<br>49,406<br>-<br>-<br>52,499<br>431,570||-<br>459,224<br>27<br>47,396<br>-<br>68,309<br>115,732<br>574,955||-<br>(396,679)<br>-<br>(61,011)<br>-<br>(68,309)<br>(129,320)<br>(525,999)||-<br>(6,771)<br>-<br>500<br>-<br>-<br>500<br>(6,271)||22,534<br>434,845|
||||||||||3,120<br>36,291<br>-|
||||||||||-<br>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. 

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**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<br>Employers NIC<br>Pension contributions<br>Temp Agency<br>Staff expenses and recruitment<br>Total|**2020**<br>**£**<br>195,536<br>17,119<br>8,142<br>-<br>802<br>221,600|**2019**<br>**£**<br>200,927<br>16,551<br>9,169<br>18,221<br>4,726|
|---|---|---|
|||249,593|



|No employee earned £60,000 or more.<br>**Staff Numbers - average head count**<br>Office<br>Saturday School<br>Direct Social Relief<br>Cluny Place House|**2020**<br>3<br>7<br>2<br>2<br>14|**2019**<br>3<br>7<br>2<br>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). 

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



## **18. SPECIAL COLLECTIONS** 

|Amounts disbursed during the year:<br>JMA<br>Benevolent Fund|**2020**<br>**£**<br>-<br>-<br>-|**2019**<br>**£**<br>1,296<br>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. 

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