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2025-08-31-accounts

BERMONDSEY f4 V CENTRAL HAIL SOUTH LONDON MISSIONJ Bermondsey Central Hall incorporating the South London Mission Registered Charity No.1141912 11 Annual Accounts 2025 Created using ExpensePIus

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Table of Contents

Legal & Administrative Details...................................................................................... 3 Message from Chair of Trustees ................................................................................... 4 Foreword from our Director ......................................................................................... 5 Trustees Report ............................................................................................................ 6 Financial Review ......................................................................................................... 18 Independent Examiners Report .................................................................................. 22 Statement of Financial Activities ................................................................................ 23 Statement of Financial Position .................................................................................. 24 Statement of Cash Flows ............................................................................................ 25 Note 1 - Accounting Policies ....................................................................................... 26 Note 2 - Analysis of Income ....................................................................................... 29 Note 3 - Analysis of Expenditure ................................................................................ 31 Note 4 - Analysis of Net Assets Between Funds ......................................................... 33 Note 5 - Other ............................................................................................................. 34 Note 6 - Tangible Fixed Assets .................................................................................... 35 Note 7 - Investments .................................................................................................. 35 Note 8 – Debtors & Creditors ..................................................................................... 36 Note 9 - Analysis of Charitable Funds ......................................................................... 37 Note 10 - Fund Transfers ............................................................................................ 38 Note 11 - Transactions to Related Parties .................................................................. 39 Note 12 – Trustee Transactions .................................................................................. 39 Note 13 - Prior Period Adjustment ............................................................................. 40 Note 14 — Operating Lease Commitments (as Lessor).............................................. 40

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Legal & Administrative Details

Charity Name: Bermondsey Central Hall Methodist Church Charity Number: 1141912 Charity Address: 256 Bermondsey Street London SE1 3UJ Trustees: Revd. Ling Yu Ji Ayodele Odumade Abenaa Baffoe Akua Agyepong Samuel Reginald Abbey Kadiatu Jalloh Lovette Kargbo Stephanie Stevenson Hector Shaw Tracey Marlin Velma Fofanah Rachel George Key Management Personnel: The charity’s key management personnel comprise the minister and senior members of the staff team. Name & Address of Primary Banker: HSBC Bank PLC Barclays Bank PLC Victoria Street Tower Bridge Road Westminster Bermondsey London London SW1P 3AS SE1 Name & Address of Solicitor: Pothecary Witham Weld 25 North Street Bishop's Stortford CM23 2LD Independent Examiner: Nigel Wyatt BSC FCA 125 Main Street Garforth Leeds LS25 1AF

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Message from Chair of Trustees

Dear friend,

This year, I had the pleasure to go through some of the reports in the past written by my predecessors. From the content of the reports, I realised how different the ministries were, and the difference in the makeup of the staff team, yet I know the essence remains the same.

That is to:

“Love the Lord your God with all your heart and with all your soul and with all your mind and with all your strength.’[a] 31 and to ‘Love your neighbour as yourself.’

Around 2 years ago, we embarked on a new journey, it is not a pathway that a church nor a minister takes often. But we believe it is the right thing to do, that is to REIMAGINING the building.

Buildings are an asset, of course, it can be a liability, but I believe it is also a gift. A gift along with people, finance, and other gifts God bestows to us.

How to be a GOOD steward to these gifts? Storing them in a barn by just making sure it is structurally safe and sound? and use it only for Sunday worship? Or try to bless the community as much as possible in a sustainable fashion and for more to know Christ?

Hence, we started to explore the needs and started the conversation with people in the neighbourhood and people who are interested. Out of those conversations, came many proposals. After staff team discussion and meeting with trustees, we short listed what we believed to be the focus of the future.

Building is never an easy and cheap subject. There is a race ahead of us!

Reverend Ling Yu Ji Chair of Trustees

Let’s “straining toward what is ahead, [Let’s] press on toward the goal to win the prize for which God has called me heavenward in Christ Jesus." (Philippians 3: 13-14) Amen.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Foreword from our Director

A few minutes' walk from this building — along the same road where I grew up — there is a small park by the New Kent Road flyover. It is not a grand place. But it shaped me. I spent whole summers there, building makeshift tree houses, improvising swords from fallen branches, making a world out of very little.

When I walked through that park recently, I noticed several trees had been cut down. There was a pang of sadness at the sight of stumps where something flourishing had stood. And then I turned — and there was a large tree, standing tall like a sentinel at the entrance to the park. A reminder that we are small in the face of nature.

The sadness lifted. Because I remembered that this tree was once a sapling, planted after the great storm of 1987 to take up the legacy of the giant before it. And I noticed green shoots already pushing through those stumps I had thought were finished.

Nature always finds a way. Beneath what can appear haphazard on the surface, there is an orderly and deliberate process at work.

This is, in many ways, the South London Mission.

It might seem unconventional — a charity that runs a 32-unit house of multiple occupation, a Saturday school, a food pantry, exercise classes for over-55s, and sessions for mothers and toddlers, all under one roof. But beneath this apparent diversity lies a shared and steadfast purpose. Deep roots drawing on the best of who we are, passing everything up through strong systems and processes, producing leaves, fruits and flowers that respond to the world around them.

This year has been one of deep roots and new growth. Maria joined us as Food Projects Coordinator — herself a former Mummies Republic participant who became a volunteer and then a member of staff. Yaa joined as Projects Coordinator, bringing energy and structure to our food programmes and establishing a volunteer programme that we are proud of. Our 'Reimagining South London Mission' events with Doing Social and Impact on Urban Health asked our community what they need from us next. Our strategy day asked us the same question.

Meanwhile, the Mummies Republic stood before Parliament to speak about the real impact of Universal Credit changes on their lives — and the government responded the following day. Three years of patient work convinced Public Health to engage seriously with BRITE Box. These are not small things.

And this September, Bermondsey Central Hall turns 125. A building. A home of faith, hope and love. Respite for those in need. Regeneration for those finding their way. Revolution — the slow, steady, deep work of changing systems that fail people.

The roots run deep. The tree is strong. Let's keep watering it.

Peter Baffoe

Executive Director, South London Mission

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Trustees Report

Objects of the Charity

The Objects of Bermondsey Central Hall Methodist Church (BCH), which incorporates the South London Mission (SLM), are to advance the Christian religion in accordance with the doctrine and practice of the Methodist Church, and to carry out such charitable purposes as are consistent with the mission of the Methodist Church for the benefit of the community.

In giving effect to these Objects, the Trustees maintain a particular focus on the relief of those in need by reason of financial hardship, ill health, age, disability, isolation, or other social and economic disadvantage in the community of Bermondsey and the wider London Borough of Southwark.

Public Benefit

The Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. When planning BCH and SLM's programme of activities for the year, the Trustees have considered the Charity Commission's general guidance on public benefit and, in particular, the supplementary guidance for charities advancing religion and relieving those in need.

The charity delivers public benefit in the following ways:

To facilitate these activities, it is important that we maintain the Bermondsey Central Hall building — a Grade II listed Methodist mission hall that has served this community since 1889 — and Cluny Place House, which together form the physical foundation of our work.

The impact of BCH and SLM is assessed and reflected on by the Trustees, supported by the staff team, using a combination of quantitative measures (attendance, programme reach, occupancy, distribution volumes) and qualitative evidence (stories from participants, partner feedback, community engagement events such as the Reimagining South London Mission workshops held in autumn 2024). This information helps guide future strategic planning, including the five-year strategy currently in development.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Summary of the Charity's Main Activities and Achievements

The South London Mission (SLM) is a community-focused, faith-rooted charity operating in the heart of Bermondsey, Southwark. We are part of Bermondsey Central Hall (BCH), a Methodist church that has served this community since 1889. As we approach BCH's 125th anniversary in September 2025, we carry that history not as a weight but as a foundation.

We are not a static institution. As our Director has put it, we have remained a constant while never being stagnant — continuing to evolve and respond to an ever-changing world with consistent compassion and service.

Our calling is simple: to be a sign of God's love to our neighbours through word, prayer and action.

2024/25 has been a year of deep roots and new growth for BCH and SLM, marked by meaningful expansion in mission-focused staffing, significant public engagement, and preparation for the 125th anniversary of the Bermondsey Central Hall building in September 2025.

Key activities and achievements during the year include:

BCH is part of the Methodist Church of Great Britain and sits within the London District and the Southwark and Deptford Circuit. The Trustees are grateful for the continued support and connection of the wider Methodist family, and for the church's active partnerships with Southwark Council, the NHS Integrated Care Board, and a wide range of local organisations and faith communities.

The Trustees assess both the level of activity across BCH and SLM, and the period-end financial position, as broadly satisfactory, while recognising the need for continued work on financial sustainability and organisational capacity in the coming period.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

The Trustees remain deeply grateful for the significant contributions of volunteers from the congregation and the wider community. Volunteers attend Tuesday through Friday mornings to support food projects — collecting food, packing boxes, preparing fresh ingredients, welcoming guests and collecting data — and serve across all aspects of church and mission life.

Our Theory of Change: Respite, Regeneration & Revolution

Everything we do is shaped by three core values. Together they form our theory of change — a belief that lasting transformation requires meeting people where they are, walking with them over time, and working to change the systems that hold them back.

Respite

Respite is the moment of relief. When someone walks through our doors — cold, hungry, frightened, or exhausted — we meet that immediate need first. No questions, no conditions. A hot meal. A warm space. A bag of groceries. Someone who sees them.

This is where every relationship begins.

Regeneration

Regeneration is the longer journey. Through sustained engagement, we create space and resource for people to build confidence, develop skills, and grow — personally, within their families, and in the wider community. A mother who comes to us for food support might find in Mummies Republic a network that changes her life. A child who comes to Saturday School might discover a love of learning they didn't know they had.

We walk alongside people, not just in front of them.

Revolution

Revolution is the systemic work. We believe that the struggles our guests face are rarely just personal — they are shaped by policies, by structures, by decisions made far from Bermondsey. So, we take what we learn from lived experience into the rooms where decisions are made.

SLM leadership sits on the boards of housing, education and health trusts. We take the stories of our community to Parliament. We use data to influence commissioners. We speak truth to power — not loudly for its own sake, but persistently, patiently, and with evidence.

Our Community

Bermondsey is a vibrant, diverse, and complex community. It sits within one of the most unequal boroughs in London, where significant wealth and acute deprivation exist side by side. Our congregation and the people we serve reflect the full richness of this neighbourhood — families with roots across West Africa, Sierra Leone, the Caribbean and beyond, alongside long-established local residents and newer arrivals.

This diversity is not incidental to our mission. It is our mission. BCH is a place where different cultures and generations worship together, where a Ghana Fellowship meets on one Sunday and the Sierra Leone Fellowship on another, where children lead services and elders offer wisdom.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Our Programmes & Impact

Our programmes span the full arc of Respite, Regeneration and Revolution . They are not separate silos — they are branches of the same tree, drawing on shared roots of faith, compassion and purpose.

RESPITE

Meeting immediate need. Opening our doors. Being present.

The Food Pantry

Every Wednesday, the Pantry opens its doors at Bermondsey Central Hall. For £5, members receive around £25 worth of food — fresh produce, tinned goods and household items. This is not a foodbank. It is a dignified, community-based model that gives choice and respects the people it serves.

The Pantry is more than food. It is a regular touchpoint — a place where people are known by name, where a familiar face can notice when someone is struggling, and where a conversation can open a door to further support. As our Projects Coordinator Yaa Anyanful describes it: 'It's more than just food; it's a place of connection and community.'

"I don't know where my daughter and I would be without the South London Mission… [They] make sure we get fresh, good food."

Southwark Foodbank (Satellite)

For those in acute crisis, we operate a satellite branch of Southwark Foodbank, providing three to five days of emergency food supplies to individuals and families with no other resource. This is Respite in its most immediate form.

The Warm Space

Supported by Southwark Council, our Warm Space initiative provides a heated, welcoming environment through the winter months — along with hot meals, food pantry hampers and human connection. For families facing a choice between heating and eating, it offers relief that is both practical and personal.

The programme received significant media attention during the year, including coverage in the South London Press and London News Online, reflecting the breadth of need in our community.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Cluny Place House

Cluny Place House (CPH) is a registered House of Multiple Occupation offering 32 affordable rooms to students, young adults, former homeless shelter guests, and people new to London. It is not just housing — it is a place of practical and pastoral support, where residents have access to a team that cares about more than the roof over their heads.

CPH is also central to our financial sustainability, providing the property income that enables us to fund our community programmes.

REGENERATION

Building confidence. Walking alongside people. Investing in the long term.

Mummies Republic

Mummies Republic supports vulnerable mothers with fresh food, practical help and — crucially — community. Loneliness and isolation are among the most harmful forces in the lives of the women we work with, and Mummies Republic addresses both the immediate need and the deeper one.

Maria, who joined us this year as Food Projects Coordinator, offers a remarkable reflection on what this programme means. Asked about her happiest memory of SLM, she said: 'When I attended Mummies Republic and we used to go on holidays to Butlins as a group.' Having been a service user and then a volunteer for nearly two years, she is now a member of staff. That journey — from recipient to contributor — is exactly what Regeneration looks like.

Following advice from our Talking Therapist, Mummies Republic organised a confidence building retreat away from daily stressors. This year, six families with autistic children attended a Butlins break, often their first holiday together due to the planning and safeguarding required. Our Saturday School SEND practitioner and other peer mums provided on-site support, helping mums rest while ensuring children were safe, creating positive family memories and much needed respite for mums. Other than the sound of laughter, our memory remains of two siblings splashing in the pool and running back to their mum to say, ‘I love you mummy, I love you mummy!”

Saturday School

Now in its 37th year as a Mission project, Saturday School provides English and Maths tuition to up to 30 primary school children each week, 10am–1pm during term time. The dedication of its staff is profound — though the team lost two experienced teachers to retirement in recent years after a combined 22 years of service.

This year in an unexpected letter of gratitude from a pupil to a teacher, it read “..thank you for building up my confidence’. A Saturday school trip to Matilda the musical also found the SLM supporting social services to ensure the safe participation of a pupil to her favourite musical. Due to resources and strained relationships, social services had given up in trying to ensure that the pupil attended this extracurricular class. We walked alongside social workers, foster parents, parents and teachers to ensure that our pupil maintained her engagement with the school and friends. This pupil sang with gusto at every song especially, “When I Grow Up,” which talks about childhood hopes and dreams for the future. Ensuring this pupil made it that evening to the theatres was an investment in the long-

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

term provision of our social safety networks, and a nod to our Methodist identity that no one shall be left behind.

The school is more than tutoring. It is a safe space where children are seen and supported, where learning happens alongside belonging. As Yaa writes: 'The energy and enthusiasm of the children, as well as the dedication of the school staff team, remind me every week why this work matters.'

BRITE Box

BRITE Box — Building Resilience In Today's Environment — is our weekly healthy meal kit programme, delivered to primary schools across Southwark. Fresh ingredients and easy-to-follow recipes go home with pupils and their families, building knowledge and confidence around food and nutrition.

The programme is deliberately designed for whole year groups, not just selected pupils, to remove the stigma that can attach to targeted food support. Ingredients are sourced from Borough Market and local Bermondsey vendors.

The Box that keeps on giving! Surprisingly it is not just weekend food insecurity that it is supporting, but also confidence in uncertain moments. A Headteacher from one of our four schools explained that following a weekend, a pupil ran to her, and said ‘I love BRITE Box!’, she asked why? She responded that her dad had been newly released from prison, and in knowing he had little money, BRITE Box meant he did not have to struggle to find the money for their evening meal on the weekends. The Box walked alongside to her dad’s house, the Box helped invest in rebuilding their long-term relationship.

The Integrated Care Board (NHS, Council and voluntary sector) and private sector partners now regularly attend BRITE Box packing sessions. After three years of engagement by our Director of Engagement and Influence, Public Health is actively exploring how to participate in the programme. This is Regeneration becoming Revolution.

Over-55s Exercise Class

Every Wednesday at 12:15pm, older members of our community come together for exercise at Central Hall, in partnership with Link Age Southwark. This is wellbeing in its fullest sense — physical health, social connection, and the simple dignity of being somewhere that is yours.

Walking alongside our wider society, this provision supports NHS and local authority priorities for frailty prevention, helping older people remain independent at home. To build confidence, gentle exercise is available in person and via Zoom, offering flexible access, consistent peer support and regular wellbeing check in from familiar faces.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

REVOLUTION

Influencing the systems that shape our community. Speaking from lived experience. Changing things.

Engagement and Influence

Our Director of Engagement and Influence, Winnie Baffoe, leads SLM's work to carry the voices of our community into the rooms where decisions are made. This year, that work has been significant.

SLM leadership sits on the boards of housing, education and health trusts, using the lived experiences of our guests to inform systematic decision making. Our community development work was recognised this year with an invitation to a complimentary celebration hosted by the London Bridge Hotel in honour of International Women's Day.

Our headteacher engagement — regular meetings with the schools receiving BRITE Box — keeps us anchored to what communities actually need, making us, as Winnie describes it, 'dynamic and agile in our approach.'

Reimagining South London Mission

In autumn 2024, we partnered with Doing Social and Impact on Urban Health to host a series of creative events under the banner 'Reimagining South London Mission'. Workshops explored youth skills and digital inclusion, enterprise and community building, health and wellbeing, and intergenerational living. The events invited our community, colleagues and partners to think with us about the future — not just what we do, but what we could become.

A five-year strategy is now in development, shaped by these conversations and by a staff strategy day that used the image of a tree — rooted, resilient, ever-growing — as its guide.

BCH as a Community Space

Bermondsey Central Hall is not just SLM's home. It is a community resource, recognised by the local authority as a regular venue for ward meetings with councillors, NHS Integrated Care Board meetings, and community engagement events. The building holds and enables far more than what SLM does alone.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Our People

Everything we do is done by people — staff, volunteers, church members, partners and community members — who give their time, skills and care to this place and to each other.

Staff

We employed an average of 15 staff across the organisation during 2024/25 — up from 11 in the prior year — covering office and administration, Saturday School, direct social relief programmes, Cluny Place House management and the expanded engagement and influence function. No member of staff earned over £60,000. Total staff costs were £290,885.

This year we welcomed two significant new members of the team. Maria joined as Food Projects Coordinator, managing the Pantry and BRITE Box — bringing with her nearly two years of volunteering experience and, before that, her own experience as a service user. Yaa Anyanful joined as Projects Coordinator, overseeing the Pantry, BRITE Box, Saturday School and Over-55s Exercise Class, and establishing the Mission's volunteer programme from the ground up.

Volunteers

Our volunteer programme, established this year under Yaa's leadership, now has a reliable and growing cohort of regular volunteers supporting food projects every week — collecting food, packing boxes, preparing fresh ingredients, welcoming guests and collecting data. Volunteers attend Tuesday through Friday, 9:30am–1:30pm. Their contribution is not incidental. It is essential.

Church Community

The BCH congregation is the living heart of this work. Under the ministry of Rev Ling Yu Ji and the leadership of Senior Steward Stephanie Stevenson — who took up the role from 1st September 2024 — the church community continued to grow in depth and breadth this year.

New stewards Martha Obeng-Damptey and Funke Nathaniel joined the team in September. Young people from BCH attended the 3Generate Methodist Youth Conference in Birmingham in October. The Sunday School-led service in July 2025 was delivered and planned by children and young graduates, whose 'leadership, creativity, and spiritual maturity shone through.'

The congregation gave generously — bringing non-perishable items to Harvest Festival for the Food Pantry and Foodbank and responding with real commitment to the BCH 125th Anniversary fundraising campaign.

Leadership

Rev Ling Yu Ji serves as Minister and Chair of Trustees. Peter Baffoe is Executive Director of SLM. Samuel Abbey serves as Treasurer.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Future Plans

This September, Bermondsey Central Hall celebrates its 125th anniversary. One hundred and twenty-five years of worship, service and community on this corner of Bermondsey Street. We do not take that lightly.

In the coming year, the Trustees are focused on three priorities:

The Trustees also intend to deepen the charity's engagement-and-influence work, expand the reach of BRITE Box, and continue to place the lived experiences of the community at the heart of policy conversations across housing, education and health.

"BCH is more than just a building; it is a home of faith, hope, and love."

The roots are deep. The tree is strong. There is more to come.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Structure, Governance and Management

Nature of the governing document

Bermondsey Central Hall Methodist Church is a registered charity in England and Wales (Charity Number 1141912). It is an unincorporated charity, governed by the Deed of Union of the Methodist Church and by the Constitutional Practice and Discipline of the Methodist Church (CPD), together with the Methodist Church Act 1976 and the Methodist Church (Funds) Act 1960. The charity's accounts are prepared in accordance with the Methodist Church (Charities Regulations) 2006 and the Charities SORP (FRS 102).

All land and buildings used for the purposes of BCH — including the Central Hall building itself and Cluny Place House — are held on the Model Trusts of the Methodist Church Act 1976. Trustees for Methodist Church Purposes (TMCP) acts as custodian trustee of these properties.

There have been no changes to the Objects of the charity during the reporting period.

Recruitment and appointment of trustees

The charity trustees are the members of the Church Council, which is the managing body of the local church under Methodist Church governance. Church Council members are appointed in accordance with the Constitutional Practice and Discipline of the Methodist Church (Standing Order 610). The Council comprises the Minister (who acts as Chair of Trustees), Stewards elected from among the membership, representatives of the congregation, and other members appointed in line with CPD.

New trustees are drawn from the membership of the church, which ensures that the Trustees as a body are actively engaged in the life and mission of the charity. Appointments take effect from 1st September each year, following the annual General Church Meeting.

The Church Council delegates many aspects of financial governance and management to its F&G sub-committee and its employed staff team.

Induction and training of trustees

On appointment, new trustees receive:

Trustees are encouraged to make use of training resources made available by the Methodist Church, Trustees for Methodist Church Purposes, and the Charity Commission.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Organisational structure

The Church Council is the managing trustee body and meets at various points throughout the year. Strategic direction and oversight of the charity's work is the responsibility of the Trustees, supported by the following:

Day-to-day operational decisions are delegated to the staff team within budgets approved by the Trustees. Significant expenditure, strategic decisions, property matters and changes affecting the charity's Objects or activities are reserved to the Church Council.

BCH does not have any subsidiary undertakings. The charity works in collaboration with the London Borough of Southwark, the NHS South East London Integrated Care Board, other local churches, and a range of partner organisations and charities on a relational basis. No formal partnership agreements are in place.

Remuneration of Key Management Personnel

The charity's key management personnel are considered to be Peter Baffoe (the Executive Director of SLM), Winnie Baffoe (the Director of Engagement and Influence), and Robert Pearce (the Director of Operations). Additionally, Revd. Ling Yu Ji, (The Minister) helps oversee the work of the charity. The Minister is appointed and remunerated under the stationing and stipend arrangements of the Methodist Conference and is not remunerated by the charity.

Remuneration levels for staff, including key management personnel, are agreed by the Finance & Governance Committee. Salaries are reviewed annually and are set with reference to:

No member of staff earned more than £60,000 during the year. Further detail on total staff costs and key management personnel remuneration is disclosed in Note 5 to the accounts.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Going Concern

The Trustees consider Bermondsey Central Hall Methodist Church to be a going concern at the date for approving the accounts. There are no material uncertainties that the charity can continue as a going concern for the next year.

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.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Financial Review

The following figures are drawn from the draft accounts for the year ended 31 August 2025 (2024/25), presented to the Finance & Governance Committee in January 2026 and subject to independent examination. They reflect a year of growth in both income and mission activity, with total incoming resources rising to £629,448 — driven by a significant increase in grant income secured to support new and expanded programmes. Expenditure also increased to £645,490, reflecting the deliberate investment in additional mission-focused staff roles as we scale our impact.

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£629,448 £645,490 £496,968
Total Income Total Expenditure Net Assets
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Income

Our primary source of income continues to be trading activities — principally rental income from Cluny Place House residents and commercial hire — which together provide the reliable foundation that makes our community programmes possible. Grant income grew substantially this year, reflecting successful fundraising for new and expanded mission work.

Income 2024/25 2023/24
Donations, gifts & church offering £38,966 £34,426
Grants £115,758 £92,648
Trading activities (CPH & commercial) £456,263 £433,408
of which: CPH residents £252,178 £241,251
of which: commercial rental £204,085 £192,156
Investment income £15,376 £17,766
Other income £3,085 £4,362
Total Income £629,448 £582,608

Grant income increased significantly year-on-year, from £92,648 to £115,758, reflecting successful bids to support expanded mission activity including new restricted funds for the SLM Project Worker, BRITE Box, Mummies Republic and general project work. A new Bermondsey 125 fund was established to receive donations towards the anniversary building campaign.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Expenditure
Expenditure 2024/25 2023/24
Staffing costs £290,885 £238,207
Circuit assessment £69,000 £60,000
SLM project costs & direct social relief £59,448 £65,205
Utilities £84,964 £98,368
Repairs & maintenance £37,641 £24,693
CPH running costs £38,035 £34,725
Insurance £8,786 £8,559
Bad debt write-off & cash loss £9,174 £0
Other running costs (incl. governance, admin,
depreciation etc.)		 £47,557 £69,042
Total Expenditure £645,490 £598,799

Financial Position

Net assets at 31 August 2025 stood at £496,968 (prior year: £512,763). The movement reflects the planned investment in additional mission-focused staff and project capacity during the year.

Restricted funds at year end totalled £83,581, held across named funds including the SLM Projects Fund (£32,530), SLM Future Project Mummies Republic (£24,500), SLM Project Worker fund (£19,227), BRITE Box (£1,651), and historic charitable gift funds from the Hollyman & Lidyard and W.G. Wells bequests. A full breakdown is shown on page 22. A new Bermondsey 125 designated fund (£1,700) was established during the year.

Reserves Policy

The Trustees take a prudent position on reserves, ensuring that the charity holds sufficient unrestricted funds to maintain its operations and its commitments to beneficiaries through any critical incident or period of financial pressure.

The Trustees have agreed a three-part reserves policy, reflecting the nature of the charity's activities and the significance of the Bermondsey Central Hall building:

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

At the reporting date, unrestricted funds totalled £413,386 (prior year: £447,469). After deducting designated funds (£10,945) and amounts tied up in tangible fixed assets (£46,645) and investments (£64,700), free reserves stood at approximately £291,096. This is above the Trustees' target level under the policy set out above.

The Trustees keep the reserves position under review through the Finance & Governance Committee and will adjust the policy as the charity's activities, income profile and commitments evolve — including in light of the emerging five-year strategy and the refreshed organisational structure.

Key Risks and Uncertainties

The Trustees have reviewed the major strategic, operational, financial and reputational risks faced by the charity and have put in place systems and policies to manage and mitigate those risks.

Unlike many churches, the majority of BCH's income is not derived from voluntary giving but from trading activities — principally rental income from Cluny Place House residents and commercial hire of the Bermondsey Central Hall building — together with restricted grant funding that supports specific mission projects. This income profile brings its own risks: occupancy levels at Cluny Place House, demand for commercial space, and the ad-hoc nature of much of the charity's grant income all have a direct impact on financial stability, and monthly expenditure has at times exceeded monthly income during the year.

The Trustees recognise the associated risks and manage them through the charity's reserves policy — which requires a minimum of six months' project cover, three months' staffing obligations, and an allowance of £100,000 for unforeseen premises costs given the age and significance of the BCH building. Income and expenditure are monitored monthly by the Finance & Governance Committee, which reports to the Trustees, and budgets are adjusted through the year in response to any recognised financial pressures.

The Trustees also recognise the risks arising from the charity's reliance on a small senior team, and from the scale of its building-related responsibilities. These are being addressed through the recruitment to a vacant Projects Coordinator post, active planning of senior team structure and capacity, and the work of the Buildings Committee alongside Trustees for Methodist Church Purposes as custodian trustee. Safeguarding risks, inherent in work with children, vulnerable adults and asylum seekers, are managed through the charity's safeguarding policies, training and trustee oversight, in line with Methodist Church safeguarding requirements.

The Trustees continue to place strong emphasis on the stewardship of resources and the generous, committed giving of the BCH congregation, which — while a smaller proportion of total income than in many churches — remains a vital expression of the spiritual life of the community and an important part of the charity's financial picture.

20

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Responsibilities of Trustees under charity law

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities Statement of Recommended Practice;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Signature

This report was approved by the Trustees, and is signed on their behalf by:

----- Start of picture text -----
Name
Date
Signature
----- End of picture text -----

21

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Independent Examiners Report

I report to the trustees on my examination of the accounts of Bermondsey Central Hall Methodist Church ('the charity') for the year ended 31/08/2025.

Responsibilities and Basis of Report

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

I report in respect of my examination of the charity’s accounts 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 2011 Act.

Independent Examiner’s Statement

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 accordance with section 130 of the 2011 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.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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

22

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Statement of Financial Activities

Unrestricted Restricted Total Prior Year
Incoming Resources
Donations & Legacies 40,966 113,758 154,724 127,073
Charitable Activities 910 0 910 594
Investments 15,376 0 15,376 17,766
Trading Activities 456,263 0 456,263 433,408
Other 2,175 0 2,175 3,768
Total incoming resources (2) 515,690 113,758 629,448 582,608
Resources Used
Charitable Activities 526,548 95,471 622,019 590,335
Raising Funds 0 0 0 0
Governance Costs 3,173 0 3,173 2,993
Support Costs 20,298 0 20,298 5,471
Total resources used (3) 550,019 95,471 645,490 598,799
Net Incoming / Outgoing
Resources (before transfers)		 -34,329 18,287 -16,042 -16,190
Fund Transfers In 22,534 0 22,534 5,500
Fund Transfers Out 22,534 0 22,534 5,500
Net Incoming / Outgoing
Resources (before gains/losses)		 -34,329 18,287 -16,042 -16,190
Investment Gains (or Losses) 246 0 246 8,009
Net Incoming / Outgoing
Resources (before Asset
Revaluation)		 -34,083 18,287 -15,796 -8,182
Asset Revaluation 0 0 0 0
Net Movement of Funds -34,083 18,287 -15,796 -8,182
Total Funds Brought Forward 447,469 65,294 512,763 520,945
Total Funds Carried Forward 413,386 83,581 496,968 512,763

23

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Statement of Financial Position

Unrestricted Restricted Total Prior Year
Non-Current Assets
Fixed Assets (6) 46,645 0 46,645 52,856
Investments (7) 64,700 0 64,700 64,453
Total 111,345 0 111,345 117,309
Current Assets
Cash 292,068 78,383 370,451 361,841
Accounts Receivable (8) 13,217 6,285 19,502 33,226
Prepayments (8) 0 0 0 9,000
Total 305,285 84,667 389,952 404,067
Current Liabilities
Accounts Payable (8) 3,243 1,086 4,329 8,613
Deferred Income (8) 0 0 0 0
Total 3,243 1,086 4,329 8,613
Non-Current Liabilities
Long Term Loan / Mortgage 0 0 0 0
Total 0 0 0 0
Net Current Assets 302,041 83,581 385,623 395,454
Total Net Assets (Assets Minus
Liabilities)		 413,386 83,581 496,968 512,763
Represented By
General (Unrestricted) 402,441 0 402,441 417,594
Minibus Fund (Designated) 0 0 0 22,534
Venture FX (Restricted) 0 0 0 0
Hollyman & Lidyard (Restricted) 0 3,395 3,395 3,395
Room and Customer Deposits
(Designated)		 6,644 0 6,644 4,739
Staff Loans (Designated) 2,601 0 2,601 2,601
CVJRS Restricted Fund
(Restricted)		 0 0 0 0
Impact on Urban Health (Grant
Plus) (Restricted)		 0 0 0 16,444
W.G. Wells gift for the poor
(Restricted)		 0 2,278 2,278 2,278
SLM Project Worker (Restricted) 0 19,227 19,227 16,626
Britebox (Restricted) 0 1,651 1,651 0
SLM Projects Fund (Restricted) 0 32,530 32,530 26,551
SLM Future Project Mummies
Republic (Restricted)		 0 24,500 24,500 0
Bermondsey 125 (Designated) 1,700 0 1,700 0
Total 413,386 83,581 496,968 512,763

Signature

These accounts have been approved by the trustees, and are signed on their behalf by:

Signature Name
Date

24

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Statement of Cash Flows

Total Prior Year
Cash Flow from Operating Activities
Net Surplus (deficit) -15,796 -8,182
Adjustments For:
Fixed Asset Depreciation 6,211 6,211
Less Investment Gains -246 -8,009
Accounts Receivable Decrease 13,724 3,250
Prepayments Decrease 9,000 0
Accounts Payable Increase -4,284 2,874
Deferred Income Increase 0 0
Less Interest Received -15,376 -17,766
Less Sale of Assets 0 0
Less Asset Revaluation 0 0
Loan Interest Paid 0 0
NET Cash Flow from Operating Activities -6,767 -21,621
Cash Flow from Investing Activities
Interest Received 15,376 17,766
Sales of Assets 0 0
Less Purchase of Assets 0 0
Return of Investments 0 0
Less Money Invested 0 0
NET Cash Flow from Investing Activities 15,376 17,766
Cash Flow from Financing Activities
Loans Received 0 0
Less Loan Repayments 0 0
Less Loan Interest Paid 0 0
NET Cash Flow from Financing Activities 0 0
Increase (decrease) in Cash 8,609 -3,856
Cash at start of period 361,841 365,697
Cash at end of period 370,451 361,841

25

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 1 - Accounting Policies

Basis of Preparation

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 2019) - (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). The church is a registered charity in England and Wales. The Trustees are the members of the Church Council named on page 5. The registered office is 256 Bermondsey Street, London, SE1 3UJ

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.

Presentation and rounding

The financial statements are presented in pounds sterling (£), the charity's functional currency, rounded to the nearest pound. Where the sum of individual rounded figures differs from a rounded total or subtotal, the difference is £1 and arises solely from this rounding.

Fund Accounting

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.

26

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Incoming Resources

All incoming resources are recognised once the charity has entitlement to the resources, it is probable that the resources will be received, and the monetary value of incoming resources can be measured with sufficient reliability.

(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.

Resources Expended

(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) Circuit Assessment 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.

Governance Costs

Governance costs include costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity. Governance costs are shown within ‘Analysis of Expenditure’ note.

Liability Recognition

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.

Tangible Fixed Assets

Assets over the value of £1,000 are capitalised.

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

27

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

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.

Operating Leases

Rental charges payable under operating leases are charged on a straight-line basis over the terms of the lease.

Where the charity acts as lessor under operating leases — principally in respect of the ground and basement floors of the Bermondsey Central Hall building, which are let to a general medical practice — rental income is recognised in the Statement of Financial Activities on a straight-line basis over the term of the lease, except where another systematic basis is more representative of the time pattern in which benefit derived from the leased asset is reduced.

Rent reviews are accounted for in the period in which the revised rent is contractually agreed. Where a rent review remains open at the reporting date, income continues to be recognised at the most recent contractually agreed rate. Any amounts received from the tenant in excess of the contractually agreed rent, pending the outcome of an open rent review, are held as a creditor (deferred income) until the review is concluded, at which point the appropriate adjustment is recognised.

Taxation

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

Judgements and Key Sources of Estimation

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period. In preparing financial statements certain judgements, estimates and assumptions have to be made that affect the amounts recognised in the financial statements. The trustees consider the following to be significant:

(i) The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimates for useful economic life and residual value. These estimates are reassessed annually and, when necessary, adjusted to reflect current circumstances.(ii) The constructive obligation for grants payable is based on an assessment of the likely duration of the supported activity. This estimate is re-assessed annually and the obligation is adjusted

Concessionary Loans

The charity initially recognises and measures concessionary loans at the amount received or receivable. The carrying amount is adjusted in subsequent years to reflect repayments and any accrued interest.

28

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 2 - Analysis of Income

Current Year (2024-2025)

Unrestricted Restricted Total
Incoming Resources
Donations & Legacies
Church Offering 15,844 0 15,844
Donations & Gifts 19,564 0 19,564
Gift Aid 3,558 0 3,558
Grants 2,000 113,758 115,758
Legacies Received 0 0 0
Special Collections and Support 0 0 0
Subtotal 40,966 113,758 154,724
Charitable Activities
Mission Activities 0 0 0
Saturday School 910 0 910
Subtotal 910 0 910
Investments
Interest and Investment Income 15,376 0 15,376
Subtotal 15,376 0 15,376
Trading Activities
Commercial Rental Income 204,085 0 204,085
Rental Income from Residents 252,178 0 252,178
Subtotal 456,263 0 456,263
Other
Other Income 2,175 0 2,175
Subtotal 2,175 0 2,175
Total incoming resources 515,690 113,758 629,448

29

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Prior Year (2023-2024)

Unrestricted Restricted Total
Incoming Resources
Donations & Legacies
Church Offering 13,132 0 13,132
Donations & Gifts 16,413 0 16,413
Gift Aid 4,881 0 4,881
Grants 5,000 87,648 92,648
Legacies Received 0 0 0
Special Collections and Support 0 0 0
Subtotal 39,426 87,648 127,074
Charitable Activities
Mission Activities 2,413 0 2,413
Saturday School 594 0 594
Subtotal 3,007 0 3,007
Investments
Interest and Investment Income 17,601 165 17,766
Subtotal 17,601 165 17,766
Trading Activities
Commercial Rental Income 193,511 0 193,511
Rental Income from Residents 241,251 0 241,251
Subtotal 434,762 0 434,762
Other
Other Income 0 0 0
Subtotal 0 0 0
Total incoming resources 494,796 87,813 582,609

30

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 3 - Analysis of Expenditure

Current Year (2024-2025)

Unrestricted Restricted Total
Resources Used
Charitable Activities
BCH Methodist Church running costs 3,974 0 3,974
Benevolent Fund 500 0 500
Circuit Assessment 69,000 0 69,000
Cleaning Supplies 2,976 0 2,976
Cluny Place House running costs 38,035 0 38,035
Depreciation 6,211 0 6,211
External Giving 0 0 0
Insurance 8,786 0 8,786
JMA 0 0 0
Local Authority Rates 0 0 0
Repairs/Maintenance (not CPH) 37,641 0 37,641
SLM Project Costs 0 42,553 42,553
SLM Projects / Direct Social Relief 16,895 0 16,895
South London Mission Running Costs 19,599 0 19,599
Staffing Costs 237,966 52,918 290,884
Utilities 84,964 0 84,964
Subtotal 526,548 95,471 622,019
Governance Costs
Banking, Governance and Professional
Fees		 3,173 0 3,173
Subtotal 3,173 0 3,173
Other Support Costs
Bad debt write-off or Loss 9,174 0 9,174
IT, Hardware, subscriptions and sundries 0 0 0
Printing, Photocopying and Stationery 9,058 0 9,058
Telecoms 2,066 0 2,066
Subtotal 20,298 0 20,298
Total resources used 550,019 95,471 645,490

31

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Prior Year (2023-2024)

Unrestricted Restricted Total
Resources Used
Charitable Activities
BCH Methodist Church running costs 2,678 0 2,678
Benevolent Fund 0 0 0
Circuit Assessment 60,000 0 60,000
Cleaning Supplies 9,163 0 9,163
Cluny Place House running costs 31,170 0 31,170
Depreciation 6,211 0 6,211
External Giving 0 0 0
Insurance 8,559 0 8,559
JMA 0 0 0
Local Authority Rates 2,792 0 2,792
Repairs/Maintenance (not CPH) 24,693 0 24,693
SLM Projects / Direct Social Relief 1,940 52,160 54,100
South London Mission Running Costs 8,507 1,345 9,852
Staffing Costs 238,207 0 238,207
Utilities 98,368 0 98,368
Subtotal 492,288 53,505 545,793
Governance Costs
Banking, Governance and Professional
Fees		 28,840 0 28,840
Subtotal 28,840 0 28,840
Other Support Costs
Bad debt write-off or Loss 13,029 0 13,029
IT, Hardware, subscriptions and sundries 2,865 0 2,865
Printing, Photocopying and Stationery 5,795 0 5,795
Telecoms 2,478 0 2,478
Subtotal 24,167 0 24,167
Total resources used 545,294 53,505 598,799

32

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 4 - Analysis of Net Assets Between Funds

Current Year (2024-2025)

Unrestricted Restricted Total
Current Assets 305,285 84,667 389,952
Non-Current Assets 111,345 0 111,345
Current Liabilities 3,243 1,086 4,329
Non-Current Liabilities 0 0 0
Total Net Assets (Assets Minus
Liabilities)		 413,386 83,581 496,968

Prior Year (2023-2024)

Unrestricted Restricted Total
Current Assets 338,773 65,294 404,067
Non-Current Assets 117,309 0 117,309
Current Liabilities 8,613 0 8,613
Non-Current Liabilities 0 0 0
Total Net Assets (Assets Minus
Liabilities)		 447,469 65,294 512,763

33

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 5 - Other

Volunteers

The charity benefits greatly from the voluntary contributions of time and money. Please refer to the trustees' report for further detail about volunteer contributions in the organisation.

Independent Examination Fees

Fees payable to the independent examiner for independent examination were: £1,230

(Fee payable in the prior year 2023-2024: £1,197).

Staff Costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

Current year Prior year
£ £
Gross wages and salaries 249,519 205,754
Employer's National Insurance contributions 27,486 20,926
Employer's pension contributions 9,317 9,083
Other staffing costs / Training / Expenses / Payroll 4,563 2,444
Total staff costs 290,885 238,207

The average number of employees during the year was 15.

(The average number of employees during the prior year (2023-2024) was 11.)

No employees received salaries at a rate of more than £60,000 per annum.

Please note – BCH administers the full payroll obligations for Robert Pearce although his employment is shared with Deptford Methodist Church. The figures above are shown net of Deptford’s proportional reimbursement, recognising that they account for these employment costs in their own annual accounts.

Key Management Personnel

The charity considers its key management personnel to be Peter Baffoe, Winnie Baffoe and Robert Pearce. The total employee benefits received by the key management personnel (including employer national insurance and pension contributions) was £137,655 (total employee benefits for the prior year were: £132,759).

Pensions

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

34

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Circuit Assessment

Bermondsey Central Hall is a church in the Methodist Circuit of Southwark and Deptford. It contributes 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 2025 FY, the amount paid by BCHMC was £69,000 (2024 £60,000). 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.

Note 6 - Tangible Fixed Assets

Premises Improvements £ Total £
Cost or valuation
Balance at 1st September 2024 93,166 93,166
Revaluation – –
Additions – –
Disposals – –
Balance at 31st August 2025 93,166 93,166
Depreciation
Balance at 1st September 2024 40,310 40,310
Charge for the year 6,211 6,211
Released on disposal – –
Balance at 31st August 2025 46,521 46,521
Net book value
At 31st August 2025 46,645 46,645
At 1st September 2024 52,856 52,856

Note 7 - Investments

Unrestricted Restricted Total Prior Year
Market Value Brought Forward 64,453 0 64,453 56,445
Gains 376 0 376 8,009
Loss (129) 0 (129) 0
Gains (losses) 246 0 246 8,009
Market Value Carried Forward 64,700 0 64,700 64,453

35

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 8 – Debtors & Creditors

Debtors

Accounts Receivable

Description Current Year (2024-2025) Prior Year (2023-2024)
Gift Aid 1,764 4,764
Trade Debtors 17,738 28,462
Total 19,502 33,226

Prepayments

Description Current Year (2024-2025) Prior Year (2023-2024)
Prepayments 0 9,000
Total 0 9,000

Creditors

Accounts Payable

Description Current Year (2024-2025) Prior Year (2023-2024)
Accrual - Independent Examination 1,230 1,197
Tax & Social Security 0 0
Trade Creditors 3,099 7,416
Total 4,329 8,613

Deferred Income

Description Current Year (2024-2025) Prior Year (2023-2024)
Balance at beginning of reporting period 0 0
Amount released to income 0 0
Amount deferred in year 0 0
Balance at end of the reporting period 0 0

36

Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 9 - Analysis of Charitable Funds

Current Year (2024-2025)

Fund Name Investment Gains (or
Opening Balance Income Expenditure Fund Transfers Closing Balance
Losses)
Unrestricted
General Funds 424,935 513,991 550,019 22,534 246 411,686
Total 424,935 513,990 550,019 22,534 246 411,686
Designated
Minibus Fund
(Designated)		 22,534 0 0 -22,534 0 0
Bermondsey 125
(Designated)		 0 1,700 0 0 0 1,700
Total 22,534 1,700 0 -22,534 0 1,700
Unrestricted Total 447,469 515,690 550,019 0 246 413,386
Restricted
Venture FX
(Restricted)		 0 0 0 0 0 0
Hollyman & Lidyard
(Restricted)		 3,395 0 0 0 0 3,395
CVJRS Restricted
Fund (Restricted)		 0 0 0 0 0 0
Impact on Urban
Health (Grant Plus)
(Restricted)		 16,444 5,000 21,444 0 0 0
W.G. Wells gift for the
poor (Restricted)		 2,278 0 0 0 0 2,278
SLM Project Worker
(Restricted)		 16,626 34,125 31,524 0 0 19,227
Britebox (Restricted) 0 37,800 36,150 0 0 1,651
SLM Projects Fund
(Restricted)		 26,551 12,333 6,354 0 0 32,530
SLM Future Project
Mummies Republic
(Restricted)		 0 24,500 0 0 0 24,500
Total 65,294 113,758 95,471 0 0 83,581
Restricted Total 65,294 113,758 95,471 0 0 83,581
TOTAL 512,763 629,448 645,490 0 246 496,968

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Prior Year (2023-2024)

Fund Name Investment Gains (or
Opening Balance Income Expenditure Fund Transfers Closing Balance
Losses)
Unrestricted
General (Unrestricted) 461,924 494,796 545,294 5,500 8,009 424,935
Total 461,924 494,796 545,294 5,500 8,009 424,935
Designated
Minibus Fund
(Designated)		 22,534 0 0 0 0 22,534
Total 22,534 0 0 0 0 22,534
Unrestricted Total 484,458 494,796 545,294 5,500 8,009 447,469
Restricted
Venture FX
(Restricted)		 0 0 0 0 0 0
Hollyman & Lidyard
(Restricted)		 3,230 165 0 0 0 3,395
CVJRS Restricted
Fund (Restricted)		 0 0 0 0 0 0
Impact on Urban
Health (Grant Plus)
(Restricted)		 5,289 18,000 1,345 -5,500 0 16,444
W.G. Wells gift for the
poor (Restricted)		 2,278 0 0 0 0 2,278
SLM Project Worker
(Restricted)		 0 16,626 0 0 0 16,626
Britebox (Restricted) 11,012 31,960 42,972 0 0 0
SLM Projects Fund
(Restricted)		 14,678 21,061 9,188 0 0 26,551
Total 36,487 87,813 53,505 -5,500 0 65,294
Restricted Total 36,487 87,813 53,505 -5,500 0 65,294
TOTAL 520,945 582,608 598,799 0 8,009 512,763

Note 10 - Fund Transfers

Description From To Amount
Closure of Minibus fund Minibus Fund General 22,534

BCH hasn’t owned a minibus for over 10 years and there is no longer a missional requirement to own or operate one. Cognisant of this, the F&G committee took the decision to close the designated minibus fund, releasing £22,534 to the general fund for the missional purposes of the South London Mission.

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Fund Descriptions

Name Description
General 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.
Minibus Fund Relates to the historic provision of a Minibus for church activities and funds originally designated for its replacement.
Venture FX The Venture FX initiative from the Methodist Church provided initial multi-year funding for work relating to Mummies
Republic and other SLM projects.
Hollyman & Lidyard This is a historic fund provided for the purposes of the South London Mission
Room and Customer Deposits Deposit funds held by SLM relating to CPH and commercial hires.
Staff Loans Occasional ad-hoc provision for salary advance loans to employees.
CVJRS Restricted Fund Restricted fund recognising the support to BCH as an employer during the Covid-19 pandemic.
Impact on Urban Health (Grant Plus) This fund contains grant income provided by the St Barts and St Thomas trust to support the development work of
the charity, including senior management costs. In this FY, £5,500 was transferred to the general fund to support 8
months' salary costs (Sept24-Apr25) for the oversight of SLM projects.
W.G. Wells gift for the poor This fund contains the endowment income from the WG Wells trust. The endowment funds are administered by the
Southwark and Deptford circuit, but the income is given to the South London mission to allocate for hardship
payments.
SLM Project Worker This fund receives grant income restricted for the employment of the SLM project workers.
Britebox Restricted funding for the BRITE Box meals project.
SLM Projects Fund The SLM Project fund contains grant income given in support of a variety of SLM's community projects, including
work with over 60s exercise, supplementary Saturday school, food pantry and the Mummies Republic initiative
SLM Future Project Mummies Republic Restricted funding for Mummies Rep
Bermondsey 125 A special collection, collected by the church to celebrate 125 years of Bermondsey Central Hall Methodist Church.

Note 11 - Transactions to Related Parties

There were no transactions to related parties during the accounting period, other than those Trustee transactions noted in Note 12 below.

Note 12 – Trustee Transactions

Trustee Remuneration

During the year 1 trustee (H Shaw) received remuneration. The remuneration paid during the year was for the employees' role within the charity and not for their role as a trustee. The total remuneration paid during the year was £28,577 including NI and Pension. (Prior Year: £27,520)

Trustee Expenses

During the year 5 trustees incurred out-of-pocket expenses totalling £489. (Prior year: 2 trustees incurred outof-pocket expenses totalling £257). All expenses were incurred for the day-to-day running of the charity's activities.

Trustee Donations

During the year the total aggregated donations made to the charity by the trustees was £3,995. There were no conditions attached to the donations. (Total aggregate donations from prior year were £5,055)

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Note 13 - Prior Period Adjustment

There were no prior year adjustments.

Note 14 — Operating Lease Commitments (as Lessor)

The charity is the lessor under one material non-cancellable operating lease, granted to four general medical practitioners trading as Nexus Health Group. The lease relates to the ground and basement floors of the Bermondsey Central Hall building (Lansdowne Medical Mission, 6 Decima Street, London SE1 4QX), comprising approximately 555.8 square metres, and is used as a National Health Service primary care surgery under the Permitted Use defined in the lease.

The lease was granted for a contractual term of twelve years, commencing on 1 September 2018 and expiring on 31 August 2030, with five years of the term remaining at the reporting date. The lease is contracted out of sections 24 to 28 of the Landlord and Tenant Act 1954, so the tenant has no statutory right of renewal at expiry. Rent reviews fall due every three years, with review dates of 1 September 2021 and 1 September 2024. Reviews are conducted on an upward-only open-market basis, subject to the lower of the open-market rent or the rent reimbursed by the NHS Funder under the National Health Service (General Medical Services — Premises Costs) Directions 2013, but with the agreed annual rent never falling below the initial rent of £104,000 during the contractual term.

At the reporting date both the 1 September 2021 and 1 September 2024 rent reviews remain open and have not yet been formally agreed or determined. In line with the accounting policy set out in Note 1, future minimum lease receipts below are presented at the initial annual rent of £104,000 contractually reserved by the lease, being the rent which is contractually certain to be receivable. The tenant is currently being invoiced at £111,224 per annum and is voluntarily paying £135,824 per annum pending the conclusion of the reviews. The difference between amounts paid by the tenant and amounts contractually invoiced — totalling £24,600 in respect of the current year — is held as a credit against the debtors’ balance at the reporting date and will be released against the agreed rent uplift, as appropriate, once the reviews are concluded. The future minimum lease receipts disclosed below will be revised in the year in which the reviews are concluded.

The total future minimum lease receipts under this non-cancellable operating lease, calculated at the initial annual rent of £104,000, are as follows:

2024/25 2023/24
£ £
Not later than one year 104,000 —
Later than one year and not later than five years 416,000 —
Later than five years — —
Total 520,000 —

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Annual Report and Independently Examined Accounts for Bermondsey Central Hall Methodist Church (Incorporating the South London Mission) for the financial year ending 31[st] August 2025

Prior year comparatives have not been presented as this is the first year in which the charity is making this disclosure. In accordance with FRS 102 S1.16, comparative information has not been restated where it is impracticable to do so, and the charity considers that the policy and disclosure presented above will be applied consistently in future reporting periods.

Forward-looking note on lease accounting

The Trustees note that the next revision of the Charities SORP, and the underlying revision of FRS 102 (effective for accounting periods beginning on or after 1 January 2026), may bring significant operating lease arrangements onto the balance sheet for both lessees and/or lessors. For charities holding heritage-status buildings such as the Bermondsey Central Hall building, which is Grade II listed and held on the Model Trusts of the Methodist Church Act 1976, further guidance is anticipated as the sector works through the application of the new standards to such property. The Trustees will keep this position under review, with the support of the Finance & Governance Committee and the charity's advisers, as further clarification emerges during the next financial year. The voluntary inclusion of the disclosure above is a deliberate first step in preparation for that transition.

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