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2020-08-31-accounts

The Methodist Church TRINITY METHODIST CHURCH, OADBY

ANNUAL REPORT AND ACCOUNTS

2019 – 2020

Regd. Charity No: 1143707

Administrative information

Aims

Trinity is a church which

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

Page 1

Organisation

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Review of progress and achievements

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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when the café was able to operate its special events such as Fish Frydays and other themed evenings proved to be increasingly popular.

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Future plans

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Financial information

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Annual Financial Statements

Basis of preparation

As treasurer I confirm that I have prepared the accounts for the year ended 31 August 2020 from the records of the Church and Zaks Café and they include all funds under the control of the Church Council

----- Start of picture text -----
Signature of Date 25 November
D Frost
Treasurer 2020
Name David Frost
Address 9 Coombe Rise,
Oadby, Leicester,
LE2 5TJ
----- End of picture text -----

Presentation to the Church Council for approval.

I confirm that the Accounts have been presented to the Church Council on 25 November 2019 and were approved.

Signature of the D McLean Chair of the meeting

Name of the Chair of Rev Derek McLean the meeting Date 25 November 2019 _______________

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

Page 8

Statement of Financial Activities for the year ended 31 August 2020

Notes to
the
accounts
Unrestricted
funds
Designated
Funds
Restricted
Funds
Total
2019-20
£ £ £ £
Income and Endowments from:
Donations and legacies
- Collections and tax credit 59,477 - 65 59,542
- Donations &grants 13,582 - 2,950 16,532
- Legacies - - - -
Charitable activities -
- Fund raising - -
- Others 3,116 3,116
Other tradingactivities -
- Lettings 24,733 24,733
- Zak's café 116,223 - - 116,223
Investments 399 - 12 411
Other -
- Internal organisations - - 3,084 3,084
- Miscellaneous - - - -
Total 217,530 - 6,111 223,641
Expenditure on:
Salaries,NIC & Pension costs 6 73,830 73,830
Circuit Assessment 54,416 54,416
Repairs and maintenance 23,469 - 23,469
Café direct sales 25,742 25,742
Utilities(insurance,heat and light,water,etc) 17,577 17,577
Expenditure on otherproperty - -
Depreciation 9 6,616 6,616
Interest on loans - - - -
Internal organisations - - 4,135 4,135
Grants and Donations 7,788 - 7,788
Other expenditure 21,298 - 21,298
Total 230,736 - 4,135 234,871
Net income/(expenditure) (13,206) - 1,976 (11,230)
Transfers between funds (1,785) 2,500 715
-
(14,991) 1,261 (11,230)
Other recognisedgains/ (losses):
Gains/(Losses)on revaluation of fixed assets -
Gains/(Losses)on investment assets -
Net movement in funds (14,991) 2,500 1,261 (11,230)
Reconciliation of funds:
Total funds brought forward 2,750,900 37,000 17,036 2,804,936
Total funds carried forward 2,735,909 39,500 18,297 2,793,706

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Comparative Statement of Financial Activities for previous year ended 31 August 2019

Notes to the
accounts
Unrestricted
funds
Designated
Funds
Restricted
Funds
Total
2018-19
£ £ £ £
Income and Endowments from:
Donations and legacies
- Collections and tax credit 60,055 - 185 60,240
- Donations &grants 7,090 - 1,250 8,340
- Legacies - - - -
Charitable activities -
- Fund raising - -
- Others 1,784 1,784
Other tradingactivities -
- Lettings 39,616 39,616
- Zak's café 154,387 - - 154,387
Investments 357 - 12 369
Other -
- Internal organisations - - 5,455 5,455
- Miscellaneous - - - -
Total 263,289 - 6,902 270,191
Expenditure on:
Salaries,NIC & Pension costs 6 107,296 107,296
Circuit Assessment 48,533 48,533
Repairs and maintenance 14,685 5,000 19,685
Café direct sales 37,791 37,791
Utilities(insurance,heat and light,water,etc) 16,511 16,511
Depreciation 9 4,773 4,773
Interest on loans - - - -
Internal organisations - - 5,449 5,449
Grants and Donations 6,425 - 6,425
Other expenditure 27,659 2,414 30,073
Total 263,673 5,000 7,863 276,536
Net income/(expenditure) (384) (5,000) (961) (6,345)
Transfers between funds 0 0 0 0
(384) (5,000) (961) (6,345)
Other recognisedgains/ (losses):
Gains/(Losses)on revaluation of fixed assets -
Gains/(Losses)on investment assets -
Net movement in funds (384) (5,000) (961) (6,345)
Reconciliation of funds:
Total funds brought forward 2,751,284 42,000 17,997 2,811,281
Total funds carried forward 2,750,900 37,000 17,036 2,804,936

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Balance Sheet as at 31 August 2020

Notes
Tangible Fixed Assets*
Notes
Tangible Fixed Assets*
Unrestricted
£
Designated
(Unrestricted)
Restricted
Totals this
year
£
£
Restricted
Totals this
year
£
£
Land & Buildings 9 2,670,000 2,670,000
Equipment 9 19,685 19,685
Investmentproperties
Investments
Totalfixed assets 2,689,685 2,689,685
Current Assets
Stock 1,879 1,879
Debtors and Prepayments 222 222
Cash at Bank and in hand 18,240 18,240
Trustees for Methodist Church
Purposes deposits
Central Finance Board Deposits 12,159 30,019 16,261 58,439
Other 14,603 9,481 2,036 26,120
47,103
39,500
18,297
104,900
Creditors and Accruals (due in
under 1yr)
879 879
Net current assets(liabilities) 46,224 39,500 18,297 104,021
Total assets less current
liabilities
2,735,909 39,500 18,297 2,793,706
Loans and creditors due after 1
year
Provisions
for
liabilities
and
charges
Net assets 8 2,735,909 39,500 18,297 2,793,706
Funds of the Church
Unrestricted funds 2,735,909 39,500 2,775,409
Restricted funds 12 18,297 18,297
Endowment funds
Total Funds 2,735,909 39,500 18,297 2,793,706

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Comparative Balance Sheet for 31 August 2019

Notes
Tangible Fixed Assets*
Notes
Tangible Fixed Assets*
Unrestricted
£
Designated
(Unrestricted)
Restricted
Totals this
year
£
£
Restricted
Totals this
year
£
£
Land & Buildings 9 2,670,000 2,670,000
Equipment 9 20,254 20,254
Investmentproperties
Investments
Totalfixed assets
Current Assets
2,690,254 2,690,254
Stock 2,081 2,081
Debtors and Prepayments 1,091 1,091
Cash at Bank and in hand
Trustees for Methodist Church
Purposes deposits
Central Finance Board Deposits 29,336 37,000 13,949 80,285
Other 33,967 3,087 37,054
Total current assets 66,475 37,000 17,036 120,511
Creditors and Accruals (due in
under 1yr)
5,829 5,829
Net current assets(liabilities) 60,646 37,000 17,036 114,682
Total assets less current
liabilities
2,750,900
37,000
17,036
2,804,936
Loans and creditors due after 1
year
Provisions
for
liabilities
and
charges
Net assets
8
Funds of the Church
2,750,900 37,000 17,036 2,804,936
Unrestricted funds 2,750,900 37,000 2,787,900
Restricted funds 12 17,036 17,036
Endowment funds
Total Funds 2,750,900 37,000 17,036 2,804,936

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Notes to the Accounts

1 Basis of accounting

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2015 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS102 – the Charities SORP (FRS102) and taking note of the Update Bulletins 1 and 2.

2 Funds

The funds held constitute: General Funds held for any purpose of the Church which are Unrestricted, this includes the funds held for the operation of Zak’s cafe. There are a number of Designated funds which are being held for specific purposes while the Restricted funds include the internal organisations of the church which are under the direct control of the church council, There are no Endowment funds. Any funds may be represented by more than just cash.

3 Accounting policies

Basis

These accounts have been prepared on the basis of historical cost except that the church building is included at deemed cost being the Insurance valuation.

Incoming Resources

Income is included in the Statement of Financial Activities (SOFA) when the Church becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability. A prior year adjustment has been made within the 2019 accounts to reflect adoption of recognition of Gift Aid within the year when it becomes due.

Resources Expended

This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Church to pay out resources.

VAT

VAT incurred on the cost of purchases for the running of the church is charged as a cost of operation, while the VAT related to the operation of , Zak’s is recovered against output tax raised on sales.

Tangible fixed assets for use by the Church and Cafe

Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £500. The freehold property is shown in the accounts at 2015 deemed values, of which the land component is deemed to be £400,000. No depreciation is provided on the buildings because the trustees consider the current residual fair value of the building (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The properties have been reviewed for impairment.

Investments

Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.

Debtors and Prepayments

All debtors relate to the trading activity of the café,.

Creditors

Creditors include both sundry expenses.

4 Payment to Trustees

There were no payments made to trustees for additional services provided to the Church.

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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5 Fees for examination or audit of the accounts

5 Fees for examination or audit of the accounts
Independent examiner’s or auditors' fees for reporting on the
accounts
Other fees (eg: advice, accountancy services) paid to the
independent examiner or auditor
6 Paid employees
2019/20
£
Nil
Nil
2018/19
£
Nil
Nil
Staff Costs paid during the year were:
Gross wages, salaries and benefits in kind
£
Less furlough grant
Employer’s National Insurance costs
£
Pension costs
£
Total staff costs
£
Average number of full-time equivalent employees in the
year were:
pital Commitments and Contingent Liabilities
At the 31 st August 2019 there are capital commitments of.
No Contingent liabilities were identified at 31st August 2019.
2019/20
92,036
(27,790)
4,796
4,788
73,830
5
Nil
2018/19
98,272
4,909
4,115
107,296
6
£864

7 Capital Commitments and Contingent Liabilities

8 For information only Money received and passed on to External Organisations

Balance brought forward from last year
Offerings/Gifts - received for External Organisations
Offerings/Gifts - passed to External Organisations
Balance carried forward
2019/20 2018/19
£ £
566 4,550
566 4,550
0 0

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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9 Tangible Fixed Assets Cost or valuation

Land
£
Buildings
£
Other
buildings
£
Fixtures,
fittings
and
equipment
£
Payments
on account
and assets
under
construction
£
Total
£
Balance brought forward 400,000 2,270,000 63,257 2,733,257
Additions 5,047 5,047
Revaluations (+/-)
Disposals (-) (4,062) (4,062)
Transfers*(+/-)
Balance carried forward 400,000 2,270,000 64,242 2,734,242
Balance carried forward
400,000
Balance carried forward
400,000
2,270,000 64,242 2,734,242
Accumulated depreciation
Balance brought forward 43003 43,003
Depreciation charge for
year (-)
6,616 6,616
Revaluations (+/-)
Disposals (-) ( 4,062) (4,062)
Transfers*(+/-)
Balance carried forward 44,557 44,557
Net book value
Brought forward 400,000
2,270,000
20,254 2,690,254
Carried forward 400,000
2,270,000
19,685 2,689,685

10 Investment assets

The church has no Investment properties

The church has no common investment fund holdings

11 Loans

The Church currently has no loans outstanding

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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12 Analysis of restricted funds

Restricted Fund
Name
Opening
Balance
Incoming
Resources

Resources
Expended
Transfers Closing
Balance

Purpose of the
fund
Benevolence
Fund
804 65 0 869 Support for
individuals in
specific need
Welcome on
Wednesday
1,683 2,402 3,479 606 Internal group.
Thursday
Fellowship
746 168 450 464 Internal group.
J C Ward fund 1,685 12 1697 Building
maintenance fund
Vickerman organ
fund
10,211 10,211 Organ repair fund
Zephs’ Purse 659 513 206 966 Café hospitality
fund
Outreach fund 3,484 3,484 Support for
community
outreach initiatives
Totals 15,788 6,644 4,135 18,297

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Independent Examiner’s Report to the Trustees of Oadby Trinity Methodist Church

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the Oadby Methodist Church for the year ended 31 August 2020 set out on pages 8 to 15.

As the Church's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

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

Independent Examiner's Statement

The Church's gross income did not exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of Chartered Institute of Management Accountants.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below*) which gives me cause to believe that in, any material respect:

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.

I have not obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date.

Name

William Keith Brooks ACMA

Address

2a Stanfield Road Duston Northampton

Date

21[st] November 2019

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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Appendix A

CHURCH COUNCIL MEMBERSHIP

Managing Trustees (Church Council Members), 2019-2020

Revd Derek McLean (Chair) Revd Paula Hunt (Superintendent Minister) Revd Daniel Yovan David Adams June Aldridge Graham Austen Alison Baker Barbara Bell Ian Bell Donald Candlin Marion Candlin Richard Cawthorn (Circuit Steward) Helen Cooper Catherine Dack Anne Dodge Michael Elliott David Frost (Church Treasurer) Lesley Green Suzanne Kelly Penny Lee Tricia Lockley Christine McLean Diane Price Barbara Sansom Howard Smith (Church Council Secretary/Charity Commission contact) Barry Wilford (Senior Church Steward) Janice Wilford Jonathan Wilford Alison Wootton

Oadby Trinity Methodist Church Annual Report and Accounts 2019/20

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