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2023-08-31-accounts

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The Methodist Church TRINITY METHODIST CHURCH, OADBY

ANNUAL REPORT AND ACCOUNTS

2022– 2023

Regd. Charity No: 1143707

Administrative information

Aims

Trinity is a church which

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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Organisation

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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Review of progress and achievements

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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Financial information

Future plans

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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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 2023 from the records of the Church and Zaks Café and they include all funds under the control of the Church Council

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Signature of Date 6 December
D Frost
Treasurer 2023
Name David Frost
Address 9 Coombe Rise,
Oadby, Leicester,
LE2 5TJ
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Presentation to the Church Council for approval.

I confirm that the Accounts have been presented to the Church Council on 6 December 2023 and were approved.

Signature of the D McLean Chair of the meeting

Name of the Chair of Rev Derek McLean the meeting Date 6 December 2023 _______________

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

Page 7

Statement of Financial Activities for the year ended 31 August 2023

Notes to
the
accounts
Unrestricted
funds
Designated
Funds
Restricted
Funds
Total
2022-23
£ £ £ £
Income and Endowments from:
Donations and legacies
- Collections and tax credit 62,614 - 280 62,894
- Donations &grants 15,480 - 1,262 16,742
- Legacies - - - -
Charitable activities -
- Fund raising - -
- Others 144 144
Other tradingactivities -
- Lettings 27,846 27,846
- Zak's café 227,387 - - 227,387
Investments 1,219 - 475 1,694
Other -
- Internal organisations - - 1,527 1,527
- Covid supportgrants - - - -
Total 334,690 - 3,544 338,234
Expenditure on:
Salaries,NIC & Pension costs 6 124,997 124,997
Circuit Assessment 53,896 53,896
Repairs and maintenance 12,084 - 12,084
Café direct sales 68,055 68,055
Utilities(insurance,heat and light,water,etc) 28,970 28,970
Depreciation 9 4,564 4,564
Internal organisations - - 1,728 1,728
Grants and Donations 6,135 - 6,135
Other expenditure 33,099 - 33,099
Total 331,800 - 1,728 333,528
Net income/(expenditure) 2,890 0 1,816 4,706
Transfers between funds 0 - -
2,890 0 1,816 4,706
Other recognisedgains/ (losses):
Gains/(Losses)on revaluation of fixed assets -
Gains/(Losses)on investment assets -
Net movement in funds 2,890 0 1,816 4,706
Reconciliation of funds:
Total funds brought forward 2,716,699 38,488 17,396 2,772,583
Total funds carried forward 2,719,589 38,488 19,212 2,777,289

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

Page 8

Comparative Statement of Financial Activities for previous year ended 31 August 2022

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Notes to
the Unrestricted Designated Restricted Total
accounts funds Funds Funds 2021-22
£ £ £ £
Income and Endowments from:
Donations and legacies
- Collections and tax credit 63,994 - - 63,994
- Donations & grants 11,688 - - 11,688
- Legacies - - - -
Charitable activities -
- Fund raising - -
- Others 965 988 1,953
Other trading activities -
- Lettings 18,940 18,940
- Zak's café 167,060 - - 167,060
Investments 220 - - 220
- Internal organisations - - 1,848 1,848
- Covid support grants 3,917 - - 3,917
Total 266,784 988 1,848 269,620
Expenditure on:
Salaries, NIC & Pension costs 6 115,943 115,943
Circuit Assessment 52,819 52,819
Repairs and maintenance 21,544 2,000 23,544
Café direct sales 44,060 44,060
Utilities (insurance, heat and light, water, etc) 18,319 18,319
Expenditure on other property - -
Depreciation 9 5,244 5,244
Internal organisations - - 2,350 2,350
Grants and Donations 6,985 - 6,985
Other expenditure 36,318 - 36,318
Total 301,232 2,000 2,350 305,582
Net income/(expenditure) (34,448) (1,012) (502) (35,962)
Transfers between funds 0 - -
(34,448) (1,012) (502) (35,962)
Other recognised gains / (losses):
Gains/(Losses) on revaluation of fixed assets 235 235
Gains/(Losses) on investment assets -
Net movement in funds (34,213) (1,012) (502) (35,727)
Reconciliation of funds:
Total funds brought forward 2,750,912 39,500 17,898 2,808,310
Total funds carried forward 2,716,699 38,488 17,396 2,772,583
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Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

Page 9

Balance Sheet as at 31 August 2023

Notes
Tangible Fixed Assets*
Notes
Tangible Fixed Assets*
Unrestricted
£
Designated
(Unrestricted)
Restricted
£
Totals this
year
£
Land & Buildings 9 2,670,000 2,670,000
Equipment 9 7,113 7,113
Investmentproperties
Investments
Totalfixed assets 2,677,113 2,677,113
Current Assets
Stock 3,310 3,310
Debtors and Prepayments 409 409
Cash at Bank and in hand
Trustees for Methodist Church
Purposes deposits
Central Finance Board Deposits 3,248 28,488 18,278 50,014
Other 46,856 10,000 934 57,790
Total current assets 53,823 38,488 19,212 111,523
Creditors and Accruals (due in
under 1yr)
11,347 11,347
Net current assets(liabilities) 42,476 38,488 19,212 100,176
Total assets less current
liabilities
2,719,589 38,488 19,212 2,777,289
Loans and creditors due after 1
year
Provisions
for
liabilities
and
charges
Net assets 8 2,719,589 38,488 19,212 2,777,289
Funds of the Church
Unrestricted funds 2,719,589 38,488 2,758,077
Restricted funds 12 19,212 19,212
Endowment funds
Total Funds 2,719,589 38,488 19,212 2,777,289

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

Page 10

Comparative Balance Sheet for 31 August 2022

Notes
Tangible Fixed Assets*
Notes
Tangible Fixed Assets*
Unrestricted
£
Designated
(Unrestricted)
Restricted
£
Totals this
year
£
Land & Buildings 9 2,670,000 2,670,000
Equipment 9 11,276 11,276
Investmentproperties
Investments
Totalfixed assets 2,681,276 2,681,276
Current Assets
Stock 2,413 2,413
Debtors and Prepayments 14,512 14,512
Cash at Bank and in hand 15,528 15,528
Trustees for Methodist Church
Purposes deposits
Central Finance Board Deposits 2,254 29,500 16,262 48,016
Other 9,615 8,988 1,134 19,737
Total current assets 44,322 38,488 17,396 100,206
Creditors and Accruals (due in
under 1yr)
8,899 8,899
Net current assets(liabilities) 35,423 38,488 17,396 91,307
Total assets less current
liabilities
2,716,699 38,488 17,396 2,772,583
Loans and creditors due after 1
year
Provisions
for
liabilities
and
charges
Net assets 8 2,716,699 38,488 17,396 2,772,583
Funds of the Church
Unrestricted funds 2,716,699 38,488 2,755,187
Restricted funds 12 17,396 17,396
Endowment funds
Total Funds 2,716,699 38,488 17,396 2,772,583

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

Page 11

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 in 2015.

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.

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 2022/23

Page 12

5 Fees for examination or audit of the accounts

es 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
2022/23
£
Nil
Nil
2021/22
£
Nil Nil
Nil Nil

6 Paid employees

Staff Costs paid during the year were:
Gross wages, salaries and benefits in kind
£
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 2023 there are capital commitments of.
No Contingent liabilities were identified at 31st August 2023.
2022/23
116,398
5,320
3,279
124,997
5
Nil
2021/22
108,267
4,580
3,096
115,943
5
Nil

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
2022/23 2021/22
£ £
195 200
195 200
0 0

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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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 66,303 2,736,303
Additions 400 400
Revaluations (+/-)
Disposals (-)
Transfers*(+/-)
Balance carried forward 400,000 2,270,000 66,703 2,736,703

Accumulated depreciation

Balance brought forward 55,027 49,783
Depreciation charge for
year (-)
4,563 4,563
Revaluations (+/-)
Disposals (-)
Transfers*(+/-)
Balance carried forward 59,590 59,590

Net book value

Net book value
Brought forward 400,000
2,270,000
11,276 2,684,459
Carried forward 400,000
2,270,000
7,113 2,677,113

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 2022/23

Page 14

12 Analysis of restricted funds

Restricted Fund
Name
Opening
Balance
Incoming
Resources

Resources
Expended
Transfers Closing
Balance

Purpose of the
fund
Benevolence
Fund
869 0 0 869 Support for
individuals in
specific need
Welcome on
Wednesday
292 1527 1518 301 Internal group.
J C Ward fund 1,698 1,698 Building
maintenance fund
Vickerman organ
fund
10,211 10,211 Organ repair fund
Zephs’ Purse 843 210 633 Café hospitality
fund
Outreach fund 3,484 3,484 Support for
community
outreach initiatives
Totals 17,397 1527 1728 17,196

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

Page 15

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 2023 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 exceed £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

5[th] December 2023

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

Page 16

Appendix A

CHURCH COUNCIL MEMBERSHIP

Managing Trustees (Church Council Members), 2022-2023

Revd Derek McLean (Chair) Revd Paula Hunt (Superintendent Minister) Revd Dr Israel Selvanayagam David Adams (to May 2023) John Aldridge (from June 2023) Graham Austen Alison Baker Barbara Bell Ian Bell Donald Candlin Marion Candlin (to March 2023) Khavita Chibba Helen Cooper Heather Corlett Meenal Desai (from June 2023) Anne Dodge Michael Elliott David Frost (Church Treasurer) Lesley Green Charles Hilton (Circuit Steward) Suzanne Kelly Penny Lee Christine McLean Stella Orbell Diane Price Howard Smith (Church Council Secretary/Charity Commission contact) Barry Wilford (to May 2023) Janice Wilford Jonathan Wilford Alison Wootton

Oadby Trinity Methodist Church Annual Report and Accounts 2022/23

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