## **Trinity Methodist Church Leighton Buzzard** ## **Annual Report for the year ended 31 August 2024** Registered Charity No: 1151861 ## **Administrative information** ## **Address** North Street, Leighton Buzzard, Bedfordshire LU7 1ES **http://www.trinitylb.org.uk** ## **Aims and organisation** ## **Our Mission statement** Trinity Methodist Church exists to create a community of disciples of Jesus who - worship God - share God’s love - help others to follow Jesus - encourage each other to grow in the Christian faith - serve God in Leighton Buzzard and throughout the world ## **Public benefit** In making decisions about the activities of the church, the trustees have had due regard to the commission’s public benefit guidance when exercising any powers or duties to which the guidance is relevant. ## **Management** The church is constituted under the Standing Orders of the Methodist Church in Britain. It is part of the South Bedfordshire Circuit. The church is managed by the Church Council who are the Trustees of the Charity. Members of the Council are elected directly by Church members at the Annual Church Meeting, can be co-opted, or, as post holders in the church community, are members ex officio. The Church Council is responsible for strategic decisions affecting the management, worship and spiritual life of the church. ## **Members of Church Council at the date of this report** ## S-W Jung (Chair & Minister) M Mele (Secretary to Church Council) S M Pollard (Treasurer) A Gray (Senior Steward) ||A J Arnold
F A Arscott-Smith
P A Baker
R K Bates
N S Bibbings*
C A Bosworth|J Cornfoot
D S Dawes
M C Dover
E M Green
N Henshaw
C S Horsefield|S Horsefield
K Keeley
C J Lowe
A R H Oldroyd
R J Owers
C Roots|B E Sinfield
A D Stokes
S Stokes
P E Wagner| |---|---|---|---|---| *Minister in the South Bedfordshire Circuit. The following were also members during the year to 31 August 2024: A H Guy, R T Hitchcock, P M Owers, J A Roberts ## **Committees** The implementation of Church Council decisions is delegated to the Minister, Leadership Team, Treasurer and these Committees. - Worship - Pastoral - Community Action Group - Property - Resources - Connections Committee ## **Review of progress and achievements** We continue to hold two services in the church and one by zoom each Sunday, as well as our bi-weekly bible studies by zoom. Numbers attending our monthly Messy Church service, which is aimed at families, fell following the COVID pandemic but is recovering slowly. Our mid-week service, held on Tuesday mornings, is regularly attended by 25-30 people from the locality and nearby villages and is particularly appreciated by those who are unable to attend the services on Sunday. Two biweekly groups meet in the church, a Games Fellowship and “Knit and natter”, giving opportunities for people to meet together. The three sections of the Scout Group continue to meet weekly. There is also a weekly badminton club. The Pastoral Leaders continue to work to ensure that all members are supported through regular contact from a member of the congregation and provide help as required. Production of the twice monthly newsletter continues to be carried out by volunteers, ensuring that all members continue to receive updates either by email or in print. The Community Action Group continues to support Trinity’s engagement in public issues and those facing the wider community, including fairtrade, ecology, homelessness and poverty. ## **Plans for Future Periods** Following receipt of a generous legacy we have been considering how we can best use these new funds to support our members and our work for the community. This includes discussions to take forward plans to use our building to increase support for outside groups and organisations, with the possibility of employing an outreach worker. In compliance with General Data Protection Regulations we will update our Church Directory in 2025. ## **Financial Summary for 2023/24** ## **General statement** Overall the financial performance for 2023/24 represented a considerable improvement when compared with 2022/23 as the Church benefitted during the year from the receipt of a legacy given by one of our members amounting to £241,688 ## **General Fund** The General Fund showed a deficit of £6,056 for the year which was largely due to a decision of the Trustees to spend more on decorating and repairing the Church property. The effect of this extra expenditure was partly offset by a decision by the Trustees to credit to the General Fund interest earned on the Legacy Fund. This came into effect in June 2024. ## **Community Links** The Community Links Fund continued to support the work of Messy Church. Income to the Fund was sufficient to meet expenditure, including continuing to pay for the services of a Messy Church Leader, and the overall result was a small surplus of £36. ## **Legacies** We did not spend any of our legacy or memorial funds during the year so the balance increased with interest and the receipt of the new legacy to £266,744. ## **Other Restricted Funds** These funds, which have been donated for particular purposes, stood at £6,546 at the year end. ## **Painting and Refurbishment Fund** The Trustees took a decision to continue to build up this Fund for future contingencies rather than to use it for the decoration and repairs mentioned earlier. A transfer of £6,000 was also made from the General Fund so the balance at the end of the year, with interest, was £10,599. ## **Donations** Trinity donated £1,500 directly from the General Fund. ## **Financial Information** As a result of the receipt of our legacy the total income for the year exceeded £250,000 in 2023/24 which is a threshold above which we are required to report our accounts on an accruals basis rather than our more usual cash basis. The accruals basis produced a different result for the year, showing a deficit in the General Fund of £2,608 compared with the cash basis figure of £6,056. In view of the fact that we intend to revert to cash basis accounts for 2024/25, the accounts for 2023/24 were independently examined on both bases and these have been approved by the Trustees on 26 February 2025. Both sets of independently examined accounts are available on request to the treasurer. ## **Income and Expenditure Account for the year ended 31 August 2024** |**INCOME**|General Fund|Community
Links|_General Fund_|_Community_
_Links_| |---|---|---|---|---| ||2023/24|2023/24|_2022/3_|_2022/3_| ||£|£|_£_|_£_| |Offertories|65,829|1,570|_77,166_|_2,980_| |Gift Aid|12,411|403|_12,542_|_570_| |Use of Premises|16,725||_14,460_|| |Feed in Tariff|1.620||_1,276_|| |Interest|5,144|210|_1,068_|_114_| |Other|349|467|_1,498_|_230_| ||102,078|2,650|_108,010_|_3,894_| |**EXPENDITURE**||||| |Circuit Assessment|59,529||_58,342_|| |Property|42,362||_24,687_|| |Printing, Copying and Office|1,884|469|_2,017_|_398_| |Church Life|2,834|729|_1,278_|_415_| |Donations|1,500||_500_|| |Employment||1,416||_857_| |Bank Charges|25|||| ||108,134|2,614|_86,824_|_1,670_| |surplus/(deficit)|(6,056)|36|_21,186_|_2,224_| |**BALANCE SHEET**||||| |Summaryof Funds|2023/24||_2022/23_|| |General Fund|31,382||_37,438_|| |Community Links Fund||||| |(Restricted)|3,859||_3,823_|| |Legacies and Memorials|266,744||_19,675_|| |Other Funds (Restricted)|6,546||_6,667_|| |Paintingand Refurbishment|10,599||_4,088_|| |Total Funds|319,130||_71,691_|| |Represented by|||| |---|---|---|---| |Current Account|13,539||_8,799_| |CFB Deposit account|41,705||_46,141_| |TMCP|263,868||_16,882_| |Cash in Hand|26||_37_| |Adjustment|(8)||_(168)_| |Total Funds|319,130||_71,691_| |Donations from Retiring Collections||3,240|| |Reserves Lower Limit||21,600|| |Reserves Limit||24,000|| |Reserves Upper Limit||36,000|| End of year reserves are £7,382 above our Reserves Limit of £24,000 ## **Approval** This report was approved by Church Council on 26 February 2025. Rev Seung-Wook Jung, Minister CHURCH ACCRUALS BASIS ACCOUNTS THE METHODIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES Trinity Methodist Church FOR THE YEAR ENDED 31 August 2024 South Bedfordshire Circuit Circuit no. 3414 Registered Charity - Charity Registration number 1151861 If not a registered charity His Majesty's Revenue and (The HMRC number is equivalent to a registered charity number in terms of evidence of Minister: Rev Seun -Wook Jun Church Stewards: Catherine Roots Alison Stokes Marina Mele Charles Horsefield Sheila Pollard Fiona Arscott-smith Treasurer.. Sheila Pollard Name of Church Trinity Methodist Church Church No 3414 Statement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to Designated the General Fund Funds accounts (Unrestricted) (unrestricted) Restricted Endowment Funds Funds Total 2023-24 Income 1 Offerings 2 Donations 3 Gift aid 4 Interest and investment income 5 Letting Income 6 Internal organisations 7 Other charitable income 8 Total income 65,879 65,879 1.570 13,364 11,587 18.026 260 248,029 358,715 1,570 428 551 12.936 260 2,195 104,440 241,688 4-- 4.146 247,580 6,695 Expenditure 9 Circuit assessment or share 10 Grants and donations 11 Propety maintenance 12 Insurance,utilities etc 13 Depreciation 14 Office expenses 15 Other expenditure 16 Inlemal organisalions 17 Totsl charitsble expenditure 18 Gainsl(losses} on monetary investments 19 Gainsl(lossesl on investment properties 20 Net incomel{expenditure) 21 Transfers be￿een funds 22 Other gainsl(losses) 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried forward 58,492 1.500 18,098 9,863 1,500 18,098 9,863 1.884 2,353 17,243 355 107,904 355 101.048 6,856 3.392 6.000 247,580 6,000 250,811 2.608 59.201 56,593 253,580 23.764 277,344 161 10,736 10,575 250.811 93.701 344,512 Name of Church Trinity Methodist Church Church No 3414 Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Notes to Designated the General Fund Funds accounts (Unrestricted) (unrestricted) Restricted Endowment Funds Funds Total 2022-23 Income 1 Offerings 2 Donations 3 Gift aid 4 Interest and investment income 5 Lettings 6 Internal organisations 7 Other charitable income 8 Total income 77,166 2.980 14.349 2,015 14,703 171 6,491 117,875 13,756 1.068 14.703 593 324 2,807 109,671 623 7,581 Expenditure 9 Circuit assessment or share 10 Grants and donations 11 Propety maintenance 12 Insurance,utilities etc 13 Depreciation 14 Office expenses 15 Other expenditure 16 Internal organisations 17 Total charitable expenditure 18 Gainsl(lossesl on monetary investments 19 Gainsl(lossesl on investmenl properties 20 Net incomel{expenditure) 21 Transfers between funds 22 Other gainsl(losses) 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried forward 58,292 500 3,335 9,436 3,335 9,436 2,067 9,352 398 2,465 13,934 115 88,077 83,097 4,980 26,574 4,000 623 4.000 2,601 29,798 22.574 36.627 59.201 4.623 2,601 8.135 10,736 29,798 63,903 93.701 23.764 Name of Church Trinity Methodist Church Church No 3414 Balance Sh8et as at 31 August 2024 General Fund (Unrestricted) Designated Funds (Unrestrlcted) Restricted Funds End¢)wmont Funds Totals 2024 Totals 2023 Notes to Accoun 174703 Fixed Assets Church building and other prope Investrnent properties Investments Total T￿ed assets Current Assets Debtors and prepayments Loans by the Churches Investments with TMCP Central Finance Board Deposits Cash at Bank and in hand Total current assets Curront Ilabllitios Creditors Idue in uTrJor 1 year) Grants payable wilhin 2022-23 Total ¢urrwtll•bllltles Net currnnt￿et￿1lab1lIti&s 25,852 408 170 26.022 408 263,868 41,705 13,564 345,567 22,799 263,868 13,306 16.882 46,141 8,836 94,658 17,824 13,564 57,648 10,575 277,344 10.575 647 647 957 647 57,001 647 344,920 957 93,701 277,344 10,575 Total •Js•ts ¢uffent Il•bllltles 57,001 277.344 10,575 344.920 93,701 Long terni Ilabllltles (due aftermore than oneyearj Grants payable after 2022-23 Loans lo the Church Net assets 57.001 277.344 10.575 344.920 93.701 Funds ol the Church General Fund Iunreslricied) Designated Funds Iunreslrictedl Totsl Unrestrlcted Funds Reslncted Funds EThJowment FutM18 56.593 56.593 277,344 333,937 10.575 59.201 23.764 82.965 10,736 10.575 Total Funds 56.593 277.344 10,575 344.512 93,701 Signed Church Treasurer ## **Name of Church** ## **Trinity Methodist Church** ## **NOTES TO THE ACCOUNTS** ## **1. Accounting Policies** ## **Basis of preparation of financial statements** The Statement of Financial Activities (SOFA) has been prepared on the historical cost convention with items recognised at cost or transaction value unless otherwise specified within these accounting policies. The accounts have been prepared in accordance with the Statement of recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **Going concern** The SOFA has been prepared on a going concern basis. The trustees have reviewed the annual budget, subsequent events and the resources available to the Church and have concluded that there is no material uncertainty and that preparing the SOFA on a going concern basis appropriate. ## **Recognition of income** Revenue is brought into the SOFA when there is entitlement to the income and the amount is reliably measured and when it is likely the economic benefit of that income will be received. Revenue primarily includes collections from the members of the Church and the congregation on a weekly and monthly basis and income derived from the use of the building. All other income is recorded in the period is recorded in the period in which the economic benefit arises and in the appropriate fund: ## **Interest income** Interest is recorded in the period to which it relates and to the specific fund for which the money is held. Any interest earned but not received is accrued for at the year end. ## **Grants received** Grants received from external sources including circuit, district and connexional grants are shown as income and allocated to the specific fund to which they are made. ## **Expenditure** Expenditure is brought into the SOFA when a liability is incurred and when the amount is reliably measured and when it is likely there will be an outflow of economic benefit. ## **Funds** The Church aims to have general, unrestricted funds equal to three months average anticipated expenditure in order to allow the Church to meet its day-to-day obligations and allow time for a considered response to a decrease in income, increase in costs or other financial challenges. Where a large gift, legacy or other planned income is received the Church will identify any restrictions attached to the income and consider the best use of the funds. This income will be placed into a restricted or designated fund. ## **Name of Church** ## **Trinity Methodist Church** ## **NOTES TO THE ACCOUNTS** ## **1. Accounting Policies** ## **Funds (continued)** **Restricted Funds** – All monies received for a specific purpose, and only for that purpose, are included in the period in which the economic benefit arises and in the fund for that specific purpose. Money gifted or donated to the Church for a specific purpose or income specifically for an internal or external organisations are recorded as restricted funds. **Designated Funds** – From time to time the Trustees will set a gift or legacy, received without any restriction, or money held in general funds, aside for a specific purpose and any income and expenditure is recorded in that designated fund. Any designated funds unspent can be redesignated by the Trustees. **General Funds** – Any income or expenditure not considered to for a specific fund is recorded in General Funds. ## **Church Buildings and Other property** No information is available to determine the initial cost of the Church Building and Property and, therefore, the Church Building and Property has been valued at the value determined for insurance purposes. The insurance value has been calculated by the insurance provider and is index linked so for this reason the Trustees do not consider depreciation to be appropriate. ## **Monetary investments** The Church’s investments are in monetary assets and are considered to be basic financial instruments and are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. Any valuations, at market value are provided by TMCP and any unrealised gains (losses) are recorded in the SOFA. Any investment income is recorded in the specific fund for which the money is held. |**Church building and other property**
Church Land & Building
Other assets
The values for insurance purposes have been used to value the assets
**Debtors andprepayments**
Circuit assessment in advance
Gift Aid reclaim
Lettings receivable
Prepayments|**2024**
3,983,230
174,703
4,157,933
**2024**
15,660
5,373
1,734
3,255
26,022|**2023**
3,983,230
174,703| |---|---|---| |||4,157,933| |||-
**2023**
14,623
4,823
408
2,945| |||22,799| Name of Church TRINITY METHODIST CHURCH 3414 Declarations and Scrutiny I confirm that these accruals based accounts for the year to 31 August 2024 have been prepared from the records of the Church and that they include all funds under the control of the Church trustees. Signature of treasurer Date....... 1411112024 Name and address of treasurer . . Sheila Pollard 129 Camberton Road, Leighton Buzzard, LU7 2UW Presentation to the Church trustees I confirm that the annual report and accounts for the year ended 31 August 2024 will be presented to the meeting of the Church trustees held on 26 February 2025................. Signature of the Chair of the meeting Name of the Chair of the meeting . Rev Seung-wook Jung Date 41,,1¥* Independent Examiner's Report to the Trustees of the TRINITY METHODIST CHURCH Charity Number 1151861 Responsibilities and basis of report I report to the trustees on my examination of the accounts of theTrinity Methodist Church for the year ended 31 August 2024 set out on pages 2 to 4 As the Church's trustees, you are responsible for the preparation of the accounts in accordan￿ 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. Name of Church TRINITY METHODIST CHURCH No......... Independent Examinerfs Statement 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 give me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Act: or the accounts do not accord with the accounting records. 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 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 Finan￿ Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Name of independent examiner C J Sheehan Relevant professional qualification of independent examiner Chartered Accountant Name of firm (where appropriate) NIA Address 88 Goswell End Road, Harlington, Beds. Post Code LU5 6NX Date 1411112024 CHURCH ACCRUALS BASIS ACCOUNTS THE METHODIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES Trinity Methodist Church FOR THE YEAR ENDED 31 August 2024 South Bedfordshire Circuit Circuit no. 3414 Registered Charity - Charity Registration number 1151861 If not a registered charity His Majesty's Revenue and (The HMRC number is equivalent to a registered charity number in terms of evidence of Minister: Rev Seun -Wook Jun Church Stewards: Catherine Roots Alison Stokes Marina Mele Charles Horsefield Sheila Pollard Fiona Arscott-smith Treasurer.. Sheila Pollard Name of Church Trinity Methodist Church Church No 3414 Statement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to Designated the General Fund Funds accounts (Unrestricted) (unrestricted) Restricted Endowment Funds Funds Total 2023-24 Income 1 Offerings 2 Donations 3 Gift aid 4 Interest and investment income 5 Letting Income 6 Internal organisations 7 Other charitable income 8 Total income 65,879 65,879 1.570 13,364 11,587 18.026 260 248,029 358,715 1,570 428 551 12.936 260 2,195 104,440 241,688 4-- 4.146 247,580 6,695 Expenditure 9 Circuit assessment or share 10 Grants and donations 11 Propety maintenance 12 Insurance,utilities etc 13 Depreciation 14 Office expenses 15 Other expenditure 16 Inlemal organisalions 17 Totsl charitsble expenditure 18 Gainsl(losses} on monetary investments 19 Gainsl(lossesl on investment properties 20 Net incomel{expenditure) 21 Transfers be￿een funds 22 Other gainsl(losses) 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried forward 58,492 1.500 18,098 9,863 1,500 18,098 9,863 1.884 2,353 17,243 355 107,904 355 101.048 6,856 3.392 6.000 247,580 6,000 250,811 2.608 59.201 56,593 253,580 23.764 277,344 161 10,736 10,575 250.811 93.701 344,512 Name of Church Trinity Methodist Church Church No 3414 Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Notes to Designated the General Fund Funds accounts (Unrestricted) (unrestricted) Restricted Endowment Funds Funds Total 2022-23 Income 1 Offerings 2 Donations 3 Gift aid 4 Interest and investment income 5 Lettings 6 Internal organisations 7 Other charitable income 8 Total income 77,166 2.980 14.349 2,015 14,703 171 6,491 117,875 13,756 1.068 14.703 593 324 2,807 109,671 623 7,581 Expenditure 9 Circuit assessment or share 10 Grants and donations 11 Propety maintenance 12 Insurance,utilities etc 13 Depreciation 14 Office expenses 15 Other expenditure 16 Internal organisations 17 Total charitable expenditure 18 Gainsl(lossesl on monetary investments 19 Gainsl(lossesl on investmenl properties 20 Net incomel{expenditure) 21 Transfers between funds 22 Other gainsl(losses) 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried forward 58,292 500 3,335 9,436 3,335 9,436 2,067 9,352 398 2,465 13,934 115 88,077 83,097 4,980 26,574 4,000 623 4.000 2,601 29,798 22.574 36.627 59.201 4.623 2,601 8.135 10,736 29,798 63,903 93.701 23.764 Name of Church Trinity Methodist Church Church No 3414 Balance Sh8et as at 31 August 2024 General Fund (Unrestricted) Designated Funds (Unrestrlcted) Restricted Funds End¢)wmont Funds Totals 2024 Totals 2023 Notes to Accoun 174703 Fixed Assets Church building and other prope Investrnent properties Investments Total T￿ed assets Current Assets Debtors and prepayments Loans by the Churches Investments with TMCP Central Finance Board Deposits Cash at Bank and in hand Total current assets Curront Ilabllitios Creditors Idue in uTrJor 1 year) Grants payable wilhin 2022-23 Total ¢urrwtll•bllltles Net currnnt￿et￿1lab1lIti&s 25,852 408 170 26.022 408 263,868 41,705 13,564 345,567 22,799 263,868 13,306 16.882 46,141 8,836 94,658 17,824 13,564 57,648 10,575 277,344 10.575 647 647 957 647 57,001 647 344,920 957 93,701 277,344 10,575 Total •Js•ts ¢uffent Il•bllltles 57,001 277.344 10,575 344.920 93,701 Long terni Ilabllltles (due aftermore than oneyearj Grants payable after 2022-23 Loans lo the Church Net assets 57.001 277.344 10.575 344.920 93.701 Funds ol the Church General Fund Iunreslricied) Designated Funds Iunreslrictedl Totsl Unrestrlcted Funds Reslncted Funds EThJowment FutM18 56.593 56.593 277,344 333,937 10.575 59.201 23.764 82.965 10,736 10.575 Total Funds 56.593 277.344 10,575 344.512 93,701 Signed Church Treasurer ## **Name of Church** ## **Trinity Methodist Church** ## **NOTES TO THE ACCOUNTS** ## **1. Accounting Policies** ## **Basis of preparation of financial statements** The Statement of Financial Activities (SOFA) has been prepared on the historical cost convention with items recognised at cost or transaction value unless otherwise specified within these accounting policies. The accounts have been prepared in accordance with the Statement of recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ## **Going concern** The SOFA has been prepared on a going concern basis. The trustees have reviewed the annual budget, subsequent events and the resources available to the Church and have concluded that there is no material uncertainty and that preparing the SOFA on a going concern basis appropriate. ## **Recognition of income** Revenue is brought into the SOFA when there is entitlement to the income and the amount is reliably measured and when it is likely the economic benefit of that income will be received. Revenue primarily includes collections from the members of the Church and the congregation on a weekly and monthly basis and income derived from the use of the building. All other income is recorded in the period is recorded in the period in which the economic benefit arises and in the appropriate fund: ## **Interest income** Interest is recorded in the period to which it relates and to the specific fund for which the money is held. Any interest earned but not received is accrued for at the year end. ## **Grants received** Grants received from external sources including circuit, district and connexional grants are shown as income and allocated to the specific fund to which they are made. ## **Expenditure** Expenditure is brought into the SOFA when a liability is incurred and when the amount is reliably measured and when it is likely there will be an outflow of economic benefit. ## **Funds** The Church aims to have general, unrestricted funds equal to three months average anticipated expenditure in order to allow the Church to meet its day-to-day obligations and allow time for a considered response to a decrease in income, increase in costs or other financial challenges. Where a large gift, legacy or other planned income is received the Church will identify any restrictions attached to the income and consider the best use of the funds. This income will be placed into a restricted or designated fund. ## **Name of Church** ## **Trinity Methodist Church** ## **NOTES TO THE ACCOUNTS** ## **1. Accounting Policies** ## **Funds (continued)** **Restricted Funds** – All monies received for a specific purpose, and only for that purpose, are included in the period in which the economic benefit arises and in the fund for that specific purpose. Money gifted or donated to the Church for a specific purpose or income specifically for an internal or external organisations are recorded as restricted funds. **Designated Funds** – From time to time the Trustees will set a gift or legacy, received without any restriction, or money held in general funds, aside for a specific purpose and any income and expenditure is recorded in that designated fund. Any designated funds unspent can be redesignated by the Trustees. **General Funds** – Any income or expenditure not considered to for a specific fund is recorded in General Funds. ## **Church Buildings and Other property** No information is available to determine the initial cost of the Church Building and Property and, therefore, the Church Building and Property has been valued at the value determined for insurance purposes. The insurance value has been calculated by the insurance provider and is index linked so for this reason the Trustees do not consider depreciation to be appropriate. ## **Monetary investments** The Church’s investments are in monetary assets and are considered to be basic financial instruments and are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. Any valuations, at market value are provided by TMCP and any unrealised gains (losses) are recorded in the SOFA. Any investment income is recorded in the specific fund for which the money is held. |**Church building and other property**
Church Land & Building
Other assets
The values for insurance purposes have been used to value the assets
**Debtors andprepayments**
Circuit assessment in advance
Gift Aid reclaim
Lettings receivable
Prepayments|**2024**
3,983,230
174,703
4,157,933
**2024**
15,660
5,373
1,734
3,255
26,022|**2023**
3,983,230
174,703| |---|---|---| |||4,157,933| |||-
**2023**
14,623
4,823
408
2,945| |||22,799| Name of Church TRINITY METHODIST CHURCH 3414 Declarations and Scrutiny I confirm that these accruals based accounts for the year to 31 August 2024 have been prepared from the records of the Church and that they include all funds under the control of the Church trustees. Signature of treasurer Date....... 1411112024 Name and address of treasurer . . Sheila Pollard 129 Camberton Road, Leighton Buzzard, LU7 2UW Presentation to the Church trustees I confirm that the annual report and accounts for the year ended 31 August 2024 will be presented to the meeting of the Church trustees held on 26 February 2025................. Signature of the Chair of the meeting Name of the Chair of the meeting . Rev Seung-wook Jung Date 41,,1¥* Independent Examiner's Report to the Trustees of the TRINITY METHODIST CHURCH Charity Number 1151861 Responsibilities and basis of report I report to the trustees on my examination of the accounts of theTrinity Methodist Church for the year ended 31 August 2024 set out on pages 2 to 4 As the Church's trustees, you are responsible for the preparation of the accounts in accordan￿ 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. Name of Church TRINITY METHODIST CHURCH No......... Independent Examinerfs Statement 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 give me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Act: or the accounts do not accord with the accounting records. 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 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 Finan￿ Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Name of independent examiner C J Sheehan Relevant professional qualification of independent examiner Chartered Accountant Name of firm (where appropriate) NIA Address 88 Goswell End Road, Harlington, Beds. Post Code LU5 6NX Date 1411112024