BERMO￿)sEj V CENTRAL HALL SOUTH LONDON MISSIONJ Bermondsey Central Hall incorporating the South London Mission Registered Charity No.1141912 Annual Accounts 2021 CONTENTS REFERENCE AND ADMINSTRATIVE INFOR￿TIoN STRucfuRE, GOVERNANCE AND MANAGEMENT MISSION STATEMENT. OBJECTIVES. AcnvmES AND ACHIEVEMENTS REVIEW. RISK MANAGEMENT AND PLANNING io FINANCIAL REVIEW, POUCY ON RESERVES AND INVESTMENT5 12 REPORTOF THE INDEPENDENT EXAMINER 13 StATEMENT OF FINANCIAL ACTIVITIES 14 BALANCE SHEET 15 CASH FLOW FORECAST 16 NOTES TO THE ACCOUNTS 17 REFERENCE AND ADMINISTRATIVE INFORMATION Berniondseycentral Hall Mèthodistchurch, incorporatingthe South London Mission. b55ituated in BermorHJse¥ Street. London. We are a Methodtst church congregation and mi55ion within the Methodist circuit of Deptford and Southwark. Ourcorre5pondence addressls: South London Mlssion 256 8ermondsey Street Bermondsey London SEI 3UI Sinte 1889the needs of the local communfty havè been served by Methodist Cthristians from thi5 corner of Bermondsey. Following the reor8anisation of the London Mtssion (South) Qrcuit in 21)J8. Berrrtrondsey Central Hall Methodist Church. Including the South London Mwion, registered with the tharity Commission in 2011 Number 1141912. The nature of the governin8 do(ument is that of an excepted unintorp)rated ¢harity datlng from September 1932. The accotsnts have been prepared in accordance wfith the requirements of the Charities Act 2011, the Statement of Recommended Przclice"Accounting ané Reporting for Charities- IFRS 1021 issued by the Charity Commission. The Charities (Accounts and Reports) Regulation$ 2(Q8 and the Church Accountin8 Re8ulations 2006. Acwuntsnts I hmltpendent Exarniw Wyatt & Co 125 Main Street Garforth. Leédx LS25 IAF 8ank•rs: HSBC Bank plc victoria Street Westminster Londcffi, SWIP 3A5 Bardays Bank pk Tower Bridge Road Bermondsey London, SEI Investment managers Central Finance Bgard of the Methodlst Churth 9 Bonhill Street London EC2A 4PE Solicitors: POthe￿ry Witham Wdd 25 North Street Bsshop's Stortford CM23 2LD STRUCTURE, GOVERNANCE AND MANAGEMENT The Trustees present their annual report ar￿ acwnts of the d￿rity for the year ended 31 August 2021. The harity registration numbw 15 1141912 at)d other relererKe and administrative detaits are shown on page l. It5 WOTkin8 names are 8CH. SLM and South London Miss￿n. The Trusleesof thecharitvarethe member50fthethurch Councrl of eenMndsey Central Hall Methodistchurch IBCHI. appointed bythe Annual Church Meetin8. Membership of the Church Counol is normal￿ restricted to a 6-yearterm butcan be extended by appro¥al of the Annual Church Meetlng. The Chalrof Trustees-the Minister of BCH alon85idethe ¥inance & Governance Committee perform the main management function for the charity, Includlng recomMer￿1n&the budgetand settingthe remuneration le¥dsfor employed staff. Theyare supported by a Property Committee and a Missions Projects Committee. DaY-t￿daY Manageme￿ is delegated throuÉh the Minister to a ieam of IHY Staff covering both administration and missTron activitie5. The Church Council has lacked a formal and consistent approach to Trustee Induction and training in recenl years. Cognisant of this fad. thÈ Finance & Governance Committee intènd to implÈment a nèw tralning and induction programme lor trustees in the 2022-2023 financi31 year, as well as reviewing Terms of RÈfÈrènte and training 3rran8ements for the Council's 5uIFcomrnittee& This requirement has been noted on the 2022 rlsk register for the charity. Safeguardingtraining for Trustees will be organised wa thecss.co.uk. The ChuKh Councll Memberswho ojr1￿thÈ asfollows: The Superintendent Mlnlster The Minister Layworker RÈvd. Da￿ GlllrnaTh abDve Mr Pèter Baffoe The Church StewarEi4* Mr AyodÈlÈ Cxlurnade Ms A￿Tra Baffoe Mts Lovette Kargbo Mrs Cloreen Gow7e Mr De5morKI Sesav Mrs Aqatha Williams Mr Reynold Thotnas Mr Eric Bediako Mrs Stephan6e Stevenson The Church Treasure The Secretary of the Council. The Secretary Oft￿ pa￿Oral Committee. Baptismal Roll 5e¢retary The Secrètary ofthe Property Cornmittee The Se¢retary ofthe Finance & Go¥ernance Committee & SLM Projects Committee Safe8uardinglJffkevs Mr Samuel Abbey Iln Vacancvl Mr Eric Bediako Mrs Rathel George Mrs Tracey Marfin Ms Aknena Baffoe Traeey Marll Mrs Doreen Gowie Mrs Lovette Kar81)0 Mr ReynohlThomas Repre5entati¥es elected annualty bythe thurth ￿etsTr8. Mr Hertor Shaw Mr Samuel Abl M5 Kadiatu Jalloh Mr Festus Matèulev Mrs Akua knepo Mrs Onw Harys Mrs Vdma FotsThah Mr5 Mary Davies Subject to the six year rule. T-Trustee MISSION STATEMENT, OBJEcfivES. AcrivmES AND ACHIEVEMENTS The calling ol Bermondsey Central Hall Methodistchurth isto be a sign of Go¢Ys love to our neighbours through word, prayer and action. Open ¢0 God challen8ine and changing Us. and recognising our néèd for God's power and grace, we commit ourselves to". The transformation of INes. churehes and communitie%.' Becornin8 Christf the state of premises whith will guide our maintenance and development priorities for 2022 and beyond. Venwre Fresh Exw¢s5ions IVFXI End of Repiyt 202012021 A melancholy August 2020 bÈgan the new Methodist year with the continued bereavemènt of famllyi frfends and members. In response tothe ￿$trI￿.0￿ The VFXprojectof Murnmies Republic experienced its most sedated vear to date, with skeletal operation meeting the basic phy5ioiogKal needs of foTrJ and clothing for women and their children. The project also engaged ts member5 via online ￿ztFormS to ensure thelr wellbelng. Long term community emergentits wére pr¢noun¢ed for ¢Jur members as Cts¥id-19 hxkdown and restrictions exacerbated the impact of low incoff* and ihe housin8 concern5 of overcrowdin& unresolved problèms with leaks, damp and mould. These physlobgical problems were tompounded by the psyd)ological problern5 of isolation and uncertainty. Out of lockdown, our service remained restrirted as our outward facing projects were dependent on the voluntary servlces of retired Litiiens orthose who were out of work due to health-related conditions. The operational and human resource management conundrum paved the way for rethinking about the future of thÉ projett. December 2021 brought the end of the Venture Fresh Expressions project at the Souih London Mission ISLMI. Seed investment into the project by the Methodist Connexion. Distrirt, Clrcult, and the Joseph Rank Trust had enabled io year5 01 the projert. In its inception the project was defined as a holy risk. as it awarded freedom for auihentic ploneering which reflected and operated alongside its communities. The outcomes have been authentic and sometimes ahe3d of government policy. Whilst the project wa5 new. energetic, and innovative, its difficulties stemrned from the reality that the project operated as a silo because it was an external project of the SLM. The operation of the project wasdependent on exlernalgrants for everyaspect of its work. Whilstthi5 restrtrted internal developmenl. it enabled 38ility for auda£¥ous innovation built around short-term focus teams. Focus teams were members Irom other ofganisations. with shared goals and accountability- Together mini projects were co-designed and implemented which met ihe nithe need5 of it5 members. This way of operatingfevealedthat partner5hipwhich prioritised mutual effortsand shared accountabilitywere good practice and a method of working which enabled the holisticgrowth and development of the community. However. internally in its final year of 2021 the VFX projert found itself with limited human resource capacity and growing demand. Therefore. as of January 2022, the piojecl ceased to be an extemally funded project and has become an integrated and integral part of SLM. The strategywill befor the projett to use its skillsand partnerships to enable SLM to become increasingly engaged wth its external stakeholder5. in a way which reflects the changin8 dynamics in community needs, investments and partnership5. Outstanding achievements of the VFX project Grnup Talking therap￿5 The VFX Mummies Republic Project has many outstanding achievements, its earliest achievement being the initiation of the South london and Maudsley NHS group therapy sessions, which continues to provide a model for other community groups. "Relotionships with lottrl communities are essentiol fvr mentol heolth 5ervice5 like ours to do our jobs properly. Thestigmo thotis stillossociutedwith mentolhealthdtiffjcutties isoften on obstocle topeople recetving the mentolheolthcarethot theyneedonddesetve. Itiso15050dly thecuse thotpeople experiencing thegreotest sociol di50dv17ntoge who moy need the Services the most. will often olso be those whofind Services horde5t to occess. We know thot we con t improve access bysimply Sitting in ourclinics. This is why building portnerships with communitygroups is so helpfulforus. ond whywe oreso grotefulfor the support of everyone ot Mummies Republic. DrJan•t Wingrovo. eonsullant Cllnlcal ￿YcholOgi4t.. Talkiny Theraplos SoLrthth Annual R•port 2017 Annual retreats A further a£hievement was the annual retreat5 initiated to mitigate the scourge of poverty around the summer holidays. In the words ofoneof ou¥ members Yhis summer my child con report bock to Sch(￿1. thot they didmore thon go to the ployground". Thi5 annual activity began in 2016 a5 a learning outcome from the group the¥apy classes and ceased due to Covid-19. V•ntur¢ Frnsh exprnstlwrf Mummi•s R•wbll¢ 8ullin'¥ 2019 rtrtmi Campalgnlng based on Ilved experlence The launch of Universal Credit in 2019 necessitated the project to challenKe and campaign using the lived experience of its members. On route to the Houses of Parliament. our members took a pitture alongside the statue of Millicent Garrett FaW￿tt in Parliament Square. The message on her statule read "Coun7ge colls to coun7ge everywhere.- The message iesonated with the experience of ou members, as the amendments and necessitation for online access to the benefits system attacked the physiological and psychological safety of low-intome households. It took gieat courage for our member5 to stand in front of a collective ol politicians, heads of housing associations. nètitsnal tampaign sen¥or leaders and headteachers in the Houses of Parliament, impart their experience of the racial and gender biased nature of the poliry and its egregiou5 attack on households, simply for they being poor. Coura8e for the Members came in knowingthat nothing bLrt policy change would mprove the system. Vèntur• Fresh Expro$61on8 umml*s R¢publlc Unlversal Crodlt campalqn 2019 The collective 10 years of the projecys development has provided a compelling direction for continued community development and social innovation, seekin8 to holistically empower hou5ehold5. Thi5 is only achlevable with the agreement of ovr members. participation of high perfomiing teams made up through partnership, and a wide group of stakeholders providing the financial and governing support. Using this model Mummies Republit as a project of the SLM will be sustained fora further Ioyears. REVIEW. RISK MANAGEMENT AND PLANNING Revlewof operatlons. stnicture and acllvlll•s: Much of the church's activity was se￿elY dlsrupted during 2020 and 2021 due to the Covid-19 p3ndemi¢ and ensuing lockdown. The operational review of pr￿eSSeS, StnJctrJre and perwnnel. facililated by an externa1 tonsultant wa5 on8oln& but ga¥e way to the finarKial. staffing and mi55ional Iministry concerns resulting from Covid-19. For much of the year, the rnajDrity of Staff were on furlough (partial orotherwisel and expenditure on the Q￿ernal consultancywas reduced. The Finance & Governance Committee and staff remain co8nisant that a greater level of strategtc focus and operation resi1￿n￿ is required to help the tharity maximise its impart, steward it5 resources effettively and operate In a Sustainab￿ fashion. partbculady in response to the flnanclal pressure5 exper1er￿d by the charity. Adl¥ltles for the Publlc Benefft: The Trustees confirm that they have referred to the Charity Commission's 8enernl guidanee on public benefit when reviewing the charitK5 aim5 and objettives. and ih pL4nning acbwties for the year. All of the above listed Pfojects are focused on benefiting those in need of Supp￿ and are open to anyone who meets the specific criteria of the indivmlual artivities. sk mana8Èment.. The Trustee5 coniinue to keep the major risks to whkh thè or8anisation is exposed under review and take approprlate action when required. ￿sk Management remains a primary responsibility and con￿rn for the Finance & Governancè Committee. The level of rerrtarrears frgm CPH a1sorema1r￿ a rlsk to be managed asdoes the PfOPOrtitin of income eenerated from various commeroal lettings. The F&G will continue to monitor the level of arrears and any correspondlne writ&off of bad debt, as well as considerin8 general income and expenditvre levels. level of cash reserves and the (¥ying financial viability of the charity. Remuneratlon: The Church Counul delegate5 the overyght of reMu￿atIOn of its stsff and key management personnel to tts Finance and Govemance Commlttee. Staff Salaries are rewewed annuallyand have most recently been linked to research conductèd by UCAN (United Kin8dom Churth Administrators Network) in 2019. This research is due to be updated in 2022, at wh￿h point BCHISLM wll rewlewthe finding5 and seek to adjust its £radine Structure and salary leveb accordin81v. Volunteers: BCH is incredibly grateful for the voluntary service of its members. who serwe in a number of capacities to support weekend worship, ¢hurch governan￿, prtspErty management and mission actNity. As is the norm wlth most Churc￿$. the role of volunteer5 is essential and core to 8cFfs operation and is reco8nised a5 an integral cornmitment of church membership, recognised withn the annual Methodist Covenant Service. The Chur(h Stewards perform a key volunteer rok in the OVer￿9ht and support of weekend worship and the pastoral life of the church. However. BCH ernploy5 3 commrtted and competent staff team who alongside the Minister. hold management responsibility forthe oversight and delNery of actiWt￿5 under the SLM knner and although the role of volunieers within SLM retnain5 crucial, it is recognised that the thari￿S ability to undertake Its present artivities and comrnitments is not dependent on any particular volunteerfs involvement. It 15 estimated that between SO and 80 volunteèrs serve regulady acro￿ all attivities. ¢ontributin8 many hundreds of volunteer hours each month. 10 Future Plans: As relerenced above, the leadership of BCH are currently undeT%oinE an operaiKJnal and strateEiC reviewto aid future planning. The staffing and 8overnance structu￿s. missK)nal actmties and premises use are all being considered a5 the church seeks to be obedient and responsive to thè leading of the H¢Jty Spirit. Further delay was experienced in 2021 due to the CDntinuin8 chalknges of Covid-19, It is hoped that signlficant pro8rÈss will be made in 2Q22, particu1arfy when Con￿dering the outrome5 of the 'listenirnE campaign,. The Eharwtable objective5 of the charity will remain the ￿Me, to promote and communicate the Christian gospel and to alleviate poverty by seNng those in need. primarily in the Bermond5ey and Southwark areas. The focu5 for 202112022 financial year will be to.. agree a su5ts1nablè model of management and operation forthe CPH housing provision, fill CPH room ¥acancie5 reduce expenditure where possible. seekingto operate within the financial fflean5 of the charitv develop fruithjl ar￿ effective partnerships With funders and other community or8anisations. to best meet the needs ofthè community better utilise vacant commercial office space for revenue generating purposes and explore the feasibility for future development of the prerni5e5 optimise mission artivity to meet the needs of the local community. 11 FINANCIAL REVIEW. POLICY ON RESERVES AND INVEsfMElItS Our work is hjnded primarity by ￿nts1 income from auny Hace House, the medical wrgery on Decima Street nd the various lettin85 of both offices and attommodation on yte. However, thegenerosity olthose connected to the Church and of the various grant lunders have approacthed is much app￿tiated and plays a ￿tal role in allowlng MIs￿on activitie5 to continue. Net Incoming resourtes wtre £588,623 compared ￿￿th £574,955 in the last financial year. This increase is entirely due to the receipt of grants from HMRC through their Coronavirus Job Retention Stheme Icirtè £58KI and the genero￿ty of various grant providi1￿ bodies who have supported tharilies impacted by Co¥id Icirca £68KI. Net of these grants, income ￿duced by grca £45￿￿, due to reduced donations and vacant rooms and ffice Space. This is the second consecutive year to see a drop in income of this level. A detailed analysis ol Incomlng and outgoing rèsources is shown in Notes l & 2 of thi5 booklet. Oper•tional eypenditure for the year was £572.063. but this includes slgnificant expendtture relating to new community wojects (many ol which are Covid related) and the writing-off of £50,IJYJ of hI￿O￿t bad dèbt At year end ihe net assets of the tharity totalled £502,831.06. From thi5 £502,831.06- Approximately £64,677 are long temi investments whith w¢)duce an annual Incorne for the charlty £46.926 represents debtors lo the Charity. most of whith are resident room fees. Due to the comrnercial realitythat a prowjrtion of ihis debtwas unlikelyto be realiied the finance and governance committee a8reed to write off circa £50K In 2021. £18,758 is held as a restricted fund fcrf the Venture FX projecL £15,OLKI is held a5 a restricted fund for the strategic development of SLM resultin8 from 3 8rant from the lrnpart on Urban Health Fund. The remainder (rf the balance sheet is cash deposited across a range of bank accounts and saving products. Thi5 cash is held to meet our reserves FKTrlKy, to smooth out cash-fiow and in preparation IOT any lar8er mairotènance issue5 whKh may oc£ur wlth the bulldlng. Investments are held and managed bythe Central Finan￿ Board of the Methodist Churth and the Trustees for Methodist Church Purposes. The ￿KIal. Èthical,and en￿rOnmental{0nslderations followed aretherefore those of the Methodist Church. Staff rernuneration levels are agrÈed by the Fifiar￿ & Govemance Committee, with any employed member5 absentlng thems¢lves from the disojsslon. SalariE5 are benthmarked to Methodist lay worker scales. Venture FX rates ladvised by the Connexionl and the UK Churth Administrators NÈtwork 2019 Benchmarking Survey. The Trustees. policy on reserves is to hold sufficient funds to cover pr￿￿1 and future project5 for a minimum of 6 months. and to meet its obligations è5 theyfall due. Supportfor our Mlsslon A¢iivltle&' We are very gratefvl to all those who show a prayerful interest in our artivitie5 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 preachef or a Home Mission event foryou. Slgned Dated: by Rev Dawd Gillrnan, Superintendent MIni￿erOf Deptford & Southwark Circuit on behalf of the trusiees of Berrntsndsey Central Hall Methodist Church 12 REPORfoF THE INDEPENDE1￿ EXAMINER I reportto the trustees on my examinatKJn of the finamal ststements of Bemiondsey Central Hall Methodist (hU￿h I'the charity'l forihe year ended 31 August 2021. Respon51bllltles al￿ baslsof rpp(Kt As the trustees of the charityyou are respon5iblÈ lorthe preparation of the financial statement5 in accordancé with the requirements of the Charitres Act 2011 lkne ALf l. I report in respe(t of wny examination of the chartys finanual 5tstements carried out under 5ertion 145 of the 2011 Art and in carTring out my examination I have folknwed all the applicable Directions given by the Charfty COMMI￿on under section 145lSllbl oftheArt Independent ex•nlner'5 ststement I confirm that l am qualmed to undertake the examination because l am a memberof the Institute of Chartered Atcountant5 in England and Wales IICAEW), which is one of ihe listed bodies. I have completed my examination. I tonfirm that no fflaterial matters have come to rry attentTron In ¢onne¢tion with the examination glving me cause to belleve that in any material respect.. accounting records were r￿t kept in respect of the tharity as required by sectlon 130ofthe Act.. or the financial siatements do not accord Wbth those records: or the financial statements do Thjt comply the appficable requlrements concerning the forni and content of accounts Set out in the Charit￿5 (Accounts and Repgrts) Regulatigns 2008 other than any requirement that the accounis give a'true and fairf tAew whith Is not a matter consldered as part of an irKlependentexaminatK)n. I have no concerns and have come across no other matters in connection with the examination to whi¢h attention should be drawn in report in order to enable a proper UnJJerstandi￿g of the accounts to be reached. Nigel Wyatt BSC FCA Independent Examiner 125 Main st￿et Garforth Leeds LS25 IAF Date: 2010612022 13 BERMONDSEY CENTRAL HALL METhODIST CHURCH STATEMENT OF FINANCIAL ACnVITIES for th• year ended 31st August 2021 unrestricted f•stricted funds 2021 2020 INCOME AND ENDOVAIENTS FROM: Donations and ￿g8¢￿5 Investm8nts Grants Aclréili&s TOTAL INCOME AND ENDOWMEKrs 63.393 371.907 53.290 324 488.914 63,403 372,297 152,599 324 588,623 73,991 381,549 113,891 390 99,309 99,709 574,955 EXPENDITURE ON: Chatitable acllvtt￿s 314 470,221 101,842 572.063 525,999 TOTAL EXPENDITURE 470,221 101.842 572,063 525.999 NET INCOhE ￿tor9 tran$f•rs 18,693 12.133) 16,560 48.956 Loss on dlspo541 of flxod assets Gains on rovaluatlon of inv•slm8nts 12.015 12.015 6.271 NET MOVEMENT IN FUNDS FOR THE YEAR 30.709 (2,133) 28,576 42,685 Re¢onclll•tlon of funds: ALANCE AT 1st Septèmber2020 11 434.845 39,411 474,255 431,570 Transfers between funds (1.8881 1,888 BALANCE AT 31st Augujt 2021 463,66S 39.166 502.831 474,255 The notes on pages 17 to 25 forn part of these financial statements. 14 BERMONDSEY CEKfRAL HALL *THODIST CHURCH BALAPKE SHEET as at 31st August 2021 2021 2020 FIXEO ASSETS Tangibl8 fix8d assets Inv8simenls 71,489 64,677 77,700 52,662 CURRE1￿ ASSETS Deblo Cash 8t bank 46,926 339.758 386.685 70,979 305.791 376.770 CREDITORS due wilhin one vear 20.020 NET CURRENT ASSETS 366,665 474,255 TOTAL ASSETS ￿sS CURREMT LIABIUTIES 502.831 474,255 CREDITORS due aft8r on8 yaar NET ASSETS 10 502 831 474 255 FUNDS Unrostrfctsd General DeswJnated 441,131 22.534 463.665 412.311 434,845 Restrlct•d SpeaFIc 39.166 39.411 502,831 474.255 Approved by the Church Councm on 140622 & SKJnad on their b&hatf by: . Revd. David Gitrnan {Supgmt8nd8nl knisl8r} Mr Sarrojel Abbey (Treasurgrl The not8s on pagos 17 10 25 fomi part of these finanaal statemènts 15 BERMONDSEY CENTrAL HALL MEtHODIST CHURCH CASH FLOW STATEMENT for th¢ year ended 31sl August 2021 2021 2020 CASH FLOWS FROM OPERATING ACTIVITIES Net cash generated from OP&Tating actNit*s {132.721} (158.529) CASH FLOWS FROM INVESTING ACTIVITIES Inleregt recewed and r8nt In)m investments 166.687 171.221 Not cash provided by Invo$tlNJ ac11vltles 166.687 171.221 CASH FLOWS FROM FINANCING AcnvmES Interest paid Loans r8ceiv8d Loan repayments Net cash {us•d inyprovlded by financlng acllvlties Change in cash and cash ¢quivalenls in thg reporting period 33,966 12.692 Cash and eash equNalents at the beginning of the reporting pemd 305.791 293,099 Cash and cash •q￿valents at the end ofthe reportlng p•riod 339.758 305,791 Classrfied on the balance sheet as.. Cash at bank CFB deposit accounts 114.353 225.405 339,758 107.409 198,382 305,791 The notes on pages 15 to 22 fomi part of these finandal stateTh￿ntS NOTE TO THE 8TATEMEKf OF CASH FLOWS: A. RECONCIUATION OF NET INCO￿ TO NET CASH GENERATED FROM OPERATING ACTIVITIES 2021 2020 Net Ideficitl I sU￿lUS for the ￿ar Ga•is on reva￿at￿n of investn*nls Inter8sI received Rent from investm8nls Depreciation of tangible frxed assets Loss on disposal of f￿ed asset$ IlncreaseyDecrease in debtors Increas6llD8ueasel in credito 28,576 (12,0151 {2,0781 (164.6091 6.211 42,885 6,271 13,8131 (167.408) 6.211 (65,400) {2.OB8) 25.013 24,053 {12.8581 NET CASH GENERATED FROM OPERATING ACTIVITIES 132721 158529 16 BERMONDSEY CEIITRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for thè yoar gndod 31st August 2021 1. AccouwfiNG POUCIES a} Ba81s of pr•p•ratlon of finan¢lal 8tat•menl¥ The a￿0unts are prepared underlhe hL8to￿l cost cOnvent￿n. in accordance V*ilh the Churth Accounting ReguL4tK)ns 2006 and Accounting and Reportng by Charities.. Statement of Recom￿nded Prdclic8 appkable to cha11t￿5 prepamg their a(*ounls in accL)rdance ￿th FRS 102 {&ffeclfv8 1 January 20151- (Charfks SORP {FRS 102)) and the Charities Act 2011. Th8 primary obi&ctwe of the charity 15 to prorrote tha gospel of our Lord Jesus Ch￿*t accK)rdlng lo the doctrine and praciu of the Methodist Churth. Th8 charity m&ets th& defin(th)n of a publlc benefrt entity under FRS 102. Assets and labthies are initialty rvcognised al hi810r￿al cost or transaction wa￿6 unless otherwise staled wi the ￿levant a(Kount￿g policy note{sl There are no material uncertaintles about the charfty's abllty lo contiiue as a gong concem. The ¢hur¢h a registergd chanty in Englgnd and wa￿5. The Twste¢s are the of Ihe Church Councl na￿d on page 1. Thè T8gkstsr8d off￿e is 256 Bemiondsey Slr6et. London. SE1 3W bl Fund a¢¢ountlng BCH funds are requyed to be analysed under Specif￿ headfftgs. as folDv+E. General fvnds represent the Yree. lunds of fhe charity that ar8 not subject lo any restrictK)n r8aa1d￿0 their use and are avalable for 8DDlutKJn for the aeneral DurDoses of BCH. Oesignated fimds are earrna￿ed by th8 tharity for particJJlar pu￿OSe5 but are neverthekss still unreslricled as the church councl can Tedes*Jnale the funds rf it wishes. Restrlcled funds are funds colected or donated lor a partular Pufpose and cannot be used by the charitv for anv other Dumose exceDI bv aoreemenl with the donor. The funds of the chanty havt been appropl1ate￿ anatysed and the statem&nt of financial actNitlas has been Df&Dar8d in accO￿ance *ilh this anafvsis. c} Accounllng R¢qulrèments The accounts are requKed to al tsansathns. assets and Fab*'118s for the charity can be held r8SDonsible. and Iher¢fore inckjde: Tax on gifts and donalk)ns received duklng thè year. Specffic 9wing directed lo support Midividual fu14ime Chri*tian wothers.. Tha accounts do not ￿dUde the accounts of churth grDUPS tho1 an afffiatiDn lo another group, nor those ar8 infomwl gatherings of church rrerr*Jers. Church groups ￿1¢h ar8 largely s6ff4inanring. suth as the flower fund. a￿ exchjded as they do not ffetgrially 8ffect the accounts,. however subsidies paKI lo these gmups ar& inthded. 17 BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for tho y•ar •nd•d 31￿ August 2021 1. ACCOUNTING POLICIES Iconllnuèdl dl Incomo lil Donation$ Collections and planned grfflg are inckJd8d in Ihe SOFA ￿en the funds are received. Income tsx rewverable on orft aKI donations is tecooniqed when thIMab￿. lill Other donallons Any grants or legac*s lo the charity aTr 8¢￿Unted for as ￿on as the charity is notrf*d of its leaal enlrtiemBnl and the amount due. Tradlftq and anclllary acdvltlos." All funds raised by ch￿￿h actNitEs such as the bookslal. and catering et¢. are a¢￿Unted for gross. Rental incoTh from nonryinvestTrnt property and room ￿11￿9$ is recognised the rental is due. rNI lftvesfments Investments are a fom of basic financ4al instrument and are initHIty recognL%ed at the transa¢l￿n value and subsequenlty rt*asured at therfair vatue as al Ihe balance sheol dale using the dosing quoted market price. The stslemenl of financ￿1 aCt[￿lIeS in￿deS Ihe net gains and bsses aiising on revaluatrjn and disposals throughout the year. The main forn of financial r6k faced by the charily Ihat of volallily in equtty markets and inv8stment markets due to widereconoThic conditM)ns, tho attilude of invtsslots to inveslmnt risk, and changes in sentirr¢nt o)nceming equities and ￿7th￿ part￿lar sectors. •} Applicallon ol Res¢urce$ li) Grnnls and outward gmng are acojunted for in the SOFA vthen paid, unless an Obliga￿n, whether constructive or IBgal, exists to the recpienl in accordance with thR fthAitiA8 qnRP And FR.9 ln? rill Parish Share and other u)sls diredty rektng to the and actNit*s of the Church are accounled for %¥hen thev are incuThed or becomè due and Davab￿. fj Depreclatlon Dep￿(￿allon has been provijed at the lo￿￿7￿g rale$ in order to ￿lIe off the assets over their ostiThltsd useful fves. C¢nlral Hall In￿￿Vem2ntS n￿u8 Over 15 years 20 wTitten dowm value LIabilit￿8 are ￿$￿gn￿ed as expenditure as soon as th8r8 vs a ￿gaI or conslructwe oblpJation committing the charity lo thal expenditure. it is probabl8 that sethmènt VAII be reqU￿d and th8 amount of the ob*JatwJn can be Thasu￿d relrdbfy-usualty the invoice amunl. All expendituro is accounted for on an attru8Ls basi8. h) Going Ct)ncem The Trustees have assessed Yknelhèrthe use of the going eoncem basi$ is appropriate and have COns￿ered possible events or conditk)ns that night Cast sunfficanl doubt on the ability of the charity lo contiiue as a gong concem. The Twstees have ma¢Je this aSsesSn￿￿t for period of at least one year from the date of app￿Val of Ihe f￿ancial slalements. In particular the Trustees have c￿nsidered the d)arity foreLzsts and pruje￿￿*ns and have taken accounl of pressures on ￿c0[￿e. After making enqums the Trustees have conduded that there is a reasonable expeclatK)n thal Ihe chaiity has adequate reSoU￿S lo cnnlinuè in operational existence for the foreseeable future. The tharity therefore ￿ntnueS to adopt the going concem basi5 in prepadng thanaal stat8m8nts. 18 BERMONDSEY CEKfRAL HALL MEfHOOIST CHURCH NOTES TO THE AccouTr¥fs for th• yèar end•d 31st August 2021 {contlnu•d} ACCOUNTING POLICIES {conllDu8d) h} Tax Status As a charity, BCHMC is exenyt from pawng incomè and Co￿*rat￿n lax. but doe$ have lo pay value added la INCOME unrestrlcknd lunds r•strlcted nds 2021 2020 tsi IX)NATIONS AND LEGACIES Donations & Gifts Lègacres Receivabl8 Grft Aid Church Offering Special CO1￿CtiOnS & yjpport 26.282 25.040 4,913 6.743 415 63.393 26.282 25,430 4.913 6.743 415 63,783 24,174 27.808 5.600 14.454 390 390 73.681 INCOME FROM PROPERTY I INVESThIEpirs Interest & Investment Income Resldenls otherCom￿r￿al Hye Other 2.067 205.231 164,609 10 2,078 205,231 164,609 3,813 210.328 167.408 371.907 10 371.918 381.549 Venture FX Ventur8 FX Grants VenluY8 FX Donallons 25.748 25.748 45.582 310 45,892 25,748 25.748 A¢tlvllles and Evgnts Venture FX Aclivrty Other Sunday Sthool 1.504 2.055 324 324 324 324 5,525 Oth•r Grants RS {HMRC) othér Grants Inyacl on Urfoan Health 58.561 58,561 19.790 48.500 126,851 68.309 19.790 33.500 53.290 15.000 73,561 68,309 TOTAL 488.914 588 623 574 955 In the 2020 FY. £115,732 of incoTh related to restrthd funds. wlh the balance of al other inco￿￿ lolalino £459.224 rélatina lo untestrfcled funds. 19 BERMONDSEY CEKfRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the yèar ended 31st August 2021 {¢¢)ntinuodl 3. THE WORK OF BERIffi)NDSEY CH IETHODIST CHURCH & THE SOUTH LONDON MISSION unrestrictsd restrl¢t¥d funds 2021 total 2020 total cHA￿TABLE GIVING Benevolenl Fund JMA Extemal G￿n9 11117 MINISTRY Circuit Assossmenl IQTCUItID￿riCVC0nr 12 Staffing costs 13 BCH M8lhodi51 Church costs costs Direct Sockgl Relref South London MissKJn Runniig Costs Chjny Pla￿ House mnning ¢*sts 128.000 117.351 1.098 18.281 7.273 19.256 128,000 175.913 1,098 18,281 7,273 19,256 72.500 175,376 4,998 2,842 14,562 37,951 58.561 291.259 58,561 349.820 308,228 VENTURE FX ventu￿ FX Stsffing Costs Project Costs 13 42.662 619 43.281 42.662 619 43,281 52,662 8.350 61,011 PREh18ES Insurance Cleaning Supplies Repair51Mainlenance (not CPHI Utilities 7,438 8.298 12.904 62.997 6.211 7.438 8.298 12,904 62,997 6.211 1.440 99.287 8.068 8.310 30.053 61,705 6.211 2.827 117.173 Depreciatlon Local Authority Ratès 99,287 AOMINISTRATION Printing, photocopwng & StatpJnery Telecoms Bankin9, Govemance & ProfessKJn81 Fees IT, Hardware.subsCriPt￿ns and sundiiès Bad debt wrIte￿ff 2.726 3.681 21,287 1.982 50.000 79.675 2.726 3.681 21.287 1,982 838 3.275 21.916 2.434 79,675 39,587 TOTAL 470.221 101842 572,063 525.999 In the 2020 FY, £129,320 of expenditure on the of the re￿le￿ to reSti￿ted funds. with the balance of £396,679 relalkng to unreslrtcted funds. BERIK>lmEY CENTRAL HALL ￿TroD1$T CHURCH NOTES TO THE ACCOUNTS fr>r th• y•ar ènd•d 31st Auw$t 2021 4. SUPPORT COSTS Icortlnugdl 2021 2020 staffi'ng costs Administrat￿￿ costs All support ¢osts are for tho of the churc* 113.QfjO 113.186 120.824 120,441 Induded within adnynistTrli)n c081s 15 £1.020 (2020.. £1.020}for the exarnnerfs remuneralKJn. S. TANGIBLE ASSETS & INvESTI￿NTs Prernl Cost or valu•11t)n Balanca at 1 st S&ptamb8r 2020 RevaluBti)n Additions Dsposa15 Balance at 31 sl Augusl 2021 93,166 93.166 93.168 93.166 D•pr•elatlon BaLance at 1st September 2020 Charge for the year Re￿aSed on di%po$al Ba￿nce at 31st Augusl 2021 1 S.466 6.211 15.466 6,211 21,677 21.877 Not book value At 1 st S8Pternber 2020 At 31 st August 2021 77.700 71.489 71.489 NOTES 6. FIXED ASSET INVESTMEPffiS Other Invostm•nts Valuallon At Septen*)er 2020 Ngt gain on revaluations At 31 August 2021 52,662 12.015 2021 2020 Hiil0ft1g1 tx)$I Bormond$oy Cgntral Hall Premlsos The Church Councl h85 control over and re8ponsbility forthe p￿￿¥$￿$ of BemY)ndsey Conlrydl Ham which is excluded from the accounts by ￿rty8 of s.10(21 of thè Charit*s A(a 2011. The freehold of BemK)ndsey nlTal Hal. is ultimalety vested li the Tnjstees for V¢thodist Church Purposes. Maft)r improvements lo the pr8mi8es are c8pitali8ed and depreciated over ther estimaled useful life. 21 BERMONDSEY CEimiAL HALL METhODIST CHURCH NOTES TO THE ACCOUNTS for the yoar •ndod 31st August 2021 {conllnuedl 7. DEBTORS 2021 2020 Prepay￿￿nts Resmlent Room Fees & Conynercial Lets Loans Glft AKJ Grants ICJRSI Bad ¢Jebl ffte-off 89,631 2,544 4,751 61,348 6.043 3.347 11.363 11.123 70,979 50,000 46.926 Forlhe FY ending 31st August 2021 the BCH & Govemance Team agreed to Y￿lte off £50,000 of bad debt wh￿h primarly r8L4tes to hk8tonc underpayTrent of CPH room fees from r8sMl8nts reporting to experf￿nCe fillan￿al hardship or faling to pay despite the besl efforts of the chufch. 8. CREDITORS du• withln ong y•ar 2021 2020 CKcuit AsseSSrr￿nt Sundry creditors & Accruals DefeThed Income 19,000 1,020 30,000 960 1.917 32,877 9. GREDITORS due after m¢r• than a year 2020 2019 Creditors due after mre than a year 10. ANALYSIS OF NET ASSETS BY FUND as at 31st August 2021 unr•strickd fvnds general de$lgnatsd ro$trlcted funds Tangibla fixed asset inveas1￿Thts Tangible fixed assets CurTenl assets Currenllobilities Long tèrm liabilf(￿S 64.677 71.489 324,984 120,020) 64.677 71,489 386,885 {20,0201 22.534 39.186 441.130 39.166 502 831 BERhlOMDSEY CEpifiiAL HALL IIJEfHODIST CHURCH NOTES TO THE ACCOUNTS for th• y•ar end•d 31st August 2021 11. MOVEhENT OF FUNDS DURING ThE YEAR balanc• bff 9xpend1￿re transhrs aThl revaluallons balance clf UNRESTRICTED FUMDS General funds Designated funds.. Minibus Fund Total designated funds 412.311 488,914 1470.2211 10,127 441,131 22,534 22,534 22.534 Tot81 unresliiGt8d lunds 434.845 488.914 (470.2211 10.127 463,665 RESTRICTED FUNDS Hollyman & Lidyard Vgnlufv FX Sp8ckal Co1￿¢110nS CVJRS lrya¢t on Vrtjan H¢alth W.G. Wels grft for the poor Tolal Trstricted funds 3.120 36,291 io 3,130 18.758 25.748 143.281) 58.561 15,000 390 99.709 158,5611 15,000 2.278 39.166 1,888 1,888 39.411 1101,8421 TOTAL 474.255 UNRESTRICTED FUI4>S General This15 the TTHin lund of the BemKJndsey Central Hal ￿￿thod191 Church and there i8 no reSt￿lI0n on it8 use. D•$ignat•d Th&sg arg fL5nd$ sel aside t¢y BCH for a specaal purpose. RESTRICTED FUNDS Speclal ¢ollectlon¥ This fund amab2amates $pocial coleGi￿n5 made by Ihe thurrh for 5pe(ial appe8L4. The di$burs8ments rnade from such oifts durina the veararB kted in nole 16. v*n￿r¢ FX This fund contains al incom& and eynditur8 for propets under the bann8rW8nture FX.. These p￿￿Cl5 ar¥ ov8rs88n by th• Vénturè FX *Drker and her n￿nage￿nI group. Ints)n* 0 primarfty grant based. CVJRS This fund contains the gr8nt incorro provNJed by HMRC IhKJugh the Coronawru$ Job Ratont￿n Schem8 and the CDTresponding expendrture on staff SaLar￿S. Impact on Urban Hoalth This fund contains the grant prDvKled by the Sl Barts and Sl trust P￿vIded to the charity lor Starteg￿ developrnenl ￿ght of the effecl of Cov4J-19. W.G.Ylells glft for the Poor This fund contains thè éndovm￿nI ii¢on* from the ￿ Welb twsl. Th¥ 6ndo￿nI fvnds aTr adnNnislered by the Southwark and Depiford orcu* but the in¢on* b gNen to the South London ￿sSIon to albcale for hardship payfflentS. 23 BERIIONDSEY CE14TRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for th• yw •nd•d 31st August 2021 Icontlnu•dl 12. CIRCUIT ASSESSMENT Benrondsey Central Hall a (*urrh in the Melhodi5t of Southwarf(8nd Dèpttord. 11 eontslbuiÉes, by means of Circuit Assessment, to thè op8ratk)nal c￿sts of the cwcuii, di5trKI and connexK*n wh￿h prgdominantty helps the fundlig ol prEsbyters InNnistetsl. In Ihe 2021 FY. tha arTr)unt pa¥J by BCHMC was £128.00012O20.. £72,500). The V£thodtsl ConneM)n the stijend and other ernploymenl costs ¢f th8 Minister of BCH and provKJes lh8irhou￿ng. The aTr￿Unt by which BCH'S COntribut￿1n excéeds these ¢osls and other apport￿n￿d arcul. DtstrKt and Connemnal (x)s1& g08S tOWdrds thè mlssion of the wider Method￿1 Churth. h#￿ing subsidi5e church congregati)ns who cannot affotd their own Mistry contributlons. 13. STAFF COSTS 2021 2020 sa￿11&s and Stipends Employèts NIC PensKJn contrÉJutK)nS Staff expenses and recrultnxnl Total 185,696 17,024 8,080 571 211,370 195.536 17.119 8.142 802 221 500 J employea eam&d £60.000 or [￿re. Staff Numbers - av•rag• hold ¢¢rtmt oirice Saturday School Clrecl Socral Relief C3uny Place House 2021 2020 14 14. KEY MANAGEMENT PERSONNEL Th8 charity's key rnanagement personnèl conwrfso the rrffii%terand senKJr members of the staff team. Total rernuneral*)n pavj to kèy rnanage￿nl personnel was £70.93912020.. £70,939). 15. TRUSTEE EXPENSES & RELATED PARnES TrANSACTIONS A total of 5 trustees daimèd 'out-of*o¢ket' expenses totaling £5481.50 in the coutse of duts"&s perfor7ned as empbyees or vobjnleets on behaff of the chuFL* or in reirrknursemenl for Tterrs procured for the church. 12019-2020.- 5 twslees Cla￿Pd 'oul￿f•OCkel, expgnsas totallMo £378T.441 16. TRUSTEE DONATIONS Thè a99￿901e value of donat￿n$ made by Councj forthis fnancial year was £6.254.47 from 16 Iru8lees {2019-2020.- £4.523.50 frvm 18 twsteesk 24 BERMONDSEY CENTRAL HALL METHODIST CHURCH NOTES TO THE ACCOUNTS for the y•ar •nd•d 31st August 2021 (continued) 17. TRUSTEE REMUNERAnoN The folowing 7 Injslees lor ￿nnected pet50ns) re￿Ned ￿n¥JnernIi)n for an enwloymenl vAth the Cha￿Y. These fvJures are inclusive of Nl {£11.701) and PenS￿n {£6020) 2021 2020 W Webb8r C Shaw P Baffoe W Baffoe R Thomas L Kargbo C Venn 28.033 28,111 24.802 24,818 42.271 42.287 42.637 42.653 2.523 2.523 2.061 2.061 2,061 2.061 144,389 144.516