The United Reformed Church The Methodist Church Trinity (Methodist/United Reformed) Church 90 Hodford Road, Golders Green, London, NWII 8EG Charity N. 1155990 TRUSTEES, ANNUAL REPORT for the year ended.. 31 AUGUST 2023
Contents Page Trustees, Report Declarations Statement of Financial Activities Balance Sheet io Notes to the Accounts 11-19
The Trustees of Trinity Imethodist / United Reformed) Church (Trinity'l present their Annual Report for the year ended 31 August 2023. l. Objectlves and artivities As a single congregation Local Ecumenical Partnership, Trinity's objective is to advance the Christian faith in the community, in accordance with the practices of the Methodist and United Reformed Church I'URC'I denominations. The Trustee5 takes their responsibilities to the Charity Commission seriously and follow their guidelines concerning public benefit in relatiOTJ to charitable objectives. To this end we bear witness to God's love for his people in Golders Green, either independently, or together with other churches and faith communities. To achieve our objective, Trinity engages in a range of activities, including worshiping God through prayer, song and other act5 of worship. It also organises and resources regular public act5 of worship that are open to Trinity's members and non-members alike and promotes the teaching of the Christian faith through sermons, courses and small groups as well as staging other events and services. Other activities include mission and evangelism, pastoral work includin8 VlSltin8 the sick and bereaved, provision of facilities with a Christian ethos for the local community, including but not restricted to the elderly, the youn8 and other groups with special needs. Trinity also provides chaplaincy services to local care homes and other institutions as appropriate as well as supporting other charities in the UK and overseas. Whenever possible, Trinity supports both inter-denominational and inter-faith work engaging in dialogue to promote harmony and understanding between diverse groups in our Golders Green community. 2. Achlevements and Performance During 2022-23 the regular pattern of Sunday worship and other occasional activities has been maintained. The church has been fortunate to have a very gifted organist, whose skills enhance our worship, and members whose facility with technology enables our services to be streamed to people unable to attend in person. The pastoral team has continued to offer care to the church community, which includes a signif icant proportion of people who have not returned to on-site activities since the Covid-19 pandemic. The Filipino Fellowship has continued to meet each Sunday afternoon, and to offer musical contributions to morning worship once each month. The minister is an active participant in Churches Together in Golders Green and District. As well as hosting a variety of community events, it was good to welcome a group from Wessex Garden Primary School to visit the church and to learn about our faith and activities. 3.1 Flnanclal Performance for the year The improvement in financial performance sinte the end of the Covid 19 pandemlc contlnued with Trinity'5 surplus of £25,954 significantly above last year's £5,225. The results were explained by markedly increased income coupled with slightly lower expenses. Income I£101,3041 was 18% above last year 12022.. £85,9531,. boosted by higher inflows from trading activities1£81,8341 which were up 27% on the prior year12022'. £64,204) underpinned by hall renta151£60,4391 which improved by 39%12022: £43,5101. Expenditure for the year1£75,3501 decreased by 7%12022: £80,728) as lower office expenses1£14,158: 2022: £22,409), mainly utilities, were only partially offset by higher building maintenance within the property costs category12023: E26,248- 2022.. £21,582). Total reserves balances stood at £5,652,047 12022.. £5,626,093.) comprising unrestricted reserves of £5,637,33712022'. 5,612,333.1 and restricted funds of £14,71012022'. £13,760). The unrestricted funds were classified into liquid assets of £127, 155 12022: £96,459.) of which £43,461 were free reserves 12022.. £12,765) and £83,694 designated for building repairs. Total property assets £5,52 1,73112022: £5,529,036) had unrestricted and restricted components of £5,510,18212022'. £5,515,8741 and £11,54912022'. £13,162) respectively. 'Resiated to reflect the reclassiflcatlon of 3 provlslon bè1ance to a deslgnated fund.
3.2 Reserves policy Trinity has a free reserves policy based on ensuring that unrestricted funds cover six to nine month's expenditure. This was met as free reserves of £43,461 12022: £12,7651 were estimated to provide coverage of about 6.3 months. 3.3 Going Concern To the best of their knowledge and belief, the Trustees confirm that there are no material uncertainties that would call into question Trinity's financial viability for at least 12 months from the date of approval of these accounts. 3.4 Rlsks and Uncertainties With the consolidation in Trlnity's financial position, there are early signs that some of the risks and uncertainties surrounding income are abating, with receipts from hall and room letting in particular exceeding pre-pandemic levels. Church attendance on the other hand is yet to fully recover and as a result, offertory takings may remain depressed for some time and adversely impact income. On the expenditure side, it is noteworthy that Costs were contained within last Veals level and with recent easlng in the inflation rate, the risk of significant cost overruns may be receding. However, whilst rates remain comparatively high, this will pose on8oin8 challenges for cost containment in major components of expenditure. 4. Strurture, governance and management Trinity was established by the amalgamation of Golders Green Methodist Church and St Ninian's URC on 30 September 1979. As a Local Ecumenical Partnership ILEPI, it is governed by its constitution adopted on 7 July 2013 and is part of the Barnet & Queensbury Methodist Circuit IBQMCI and Thames North Synod ITN51 of the URC. The Church registered as a charity with the Charity Commission on 3 March 2014. The titles to Trinity's buildings are held by the Trustees for Methodist Church Purposes ITMCPI as Custodian Trustees. The Church Building is held on Trust for the benefit of Trinity whose Trustees are the Managing Trustees. However, the beneficial ownership of the Manse is shared between BQMC and Trinity in the ratio of 75'A and 25'A respectively with BQMC acting as the Managing Trustees. The management of Trinity's buildin8s is governed by the Methodist Church Act 1976, the Deed of Union and the Model Trust Deeds of the Methodist Church. Elected Trustees are appolnted at the Annual Congregational Meeting IACMI and serve for an initlal term of three years after which they are eligible for re-election. Ex officio Trustees include the minister of the LEP who act as chair, the Superintendent Minister of BQMC and the Moderator of TNS. In addition, the Trustees can also at any time appoint a maximum of two Co-opted Trustees who serve until the following ACM. The Minister is appointed on a rotational basis (normally every 5 years) using the denomination specific process of the Methodist or United Reformed churches. The current minister, appointed on I September 2021, is from the Methodist denomination. The Trustees are also members of Trinity's Church Council, membership of which comprise office holders, the Minister, other ex officio members and representatives appointed by Trinity's members at the ACM. Trinity operates within a statutory framework of regulation and Seeks to ensure that it follows Methodist St3nding Orders. Trustee meetin8S are held at least once a quarter and they report to Congregational Meetings at least once a year. Trinitv is supported by a part-time administrator Ithe post is currently vacantl and a dedicated group of lay volunteers.
- Reference and Administrative Details 5.1 Name of the charlty Trinity IMethodist/United Reformed) Church, Golders Green 5.2 Charity registration number 1155990, re8lStered in England and Wales 5.3 Princlpal Offlce Trinity Church 90 Hodford Road London NWII 8EG 5.4 Treasurer Mrs Charlotte Silwizya 5.5 Names of Trustees The following served a5 Trustees throughout part or all of the year 2022-23 or were Trustees at the time of this report bein8 approved.. Rev'd Dr Martin Wellings (Chairl Mr Ivan Bonnett Mr Eric Brown Mrs Elaine Brown Ms Mary Brown (appointed 4 June 20231 Mr Bitru5 Danboyl Ms MinnyGilles Ms Encarnacion Manalili Mrs Janet Morrison Ms Theodora Matey Mrs Charlotte Silwizya (Treasurer) Mr5 Georgina Siriboe Ms Helen Tanedo Mr5 Monina Quin No trustee claims exemption from disclosure of his or her name here. 5.6 Bankers HSBC plc The Peak 333 Vauxhall Bridge Road Victoria London SWIV IEJ Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE
5.7 Investment Managers and Custodian Trustees Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester Ml IJQ 5.8 Independent Examiner Andrew Thomas ACA Nyman Libson Paul LLP 124 Finchley Road London NW3 5JS Approvals The Trustees, Report and the Financial Statements were presented to the Trustees Meeting and approved by the Trustees on 12 May 2024 and will be presented to the members at the Annual Congregational Meeting onxjune 2024. Signed on behalf of the Trustees bv: Si8ned: _. l.LU Signed.. Rev'd Dr Martin Wellin8S Chair of Trustees 1214 LJll', Charlotte Silwizya Treasurer P051tion: Position: Date.. Date:
DECLARATIONS Treasurer I confirm that the accounts and financial statements for the year ended 31 August 2023 have been prepared from the records of Trinity and that they include all funds under the control of the Trustees. Signed.. Date.. Charlo te Silwizya Name of Treasurer: Charlotte Silwizya Address: 90 Hodford Road Golders Green London NWII 8EG Independent Examiner's Report to the Trustees of Trlnlty IMethodist/Unlted Reformed) Church, Golders Green (the 'charity'l. I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2023. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reportsl Regulations 2008. My work has been undertaken 50 that I might state to the charity's Trustees those matters l am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. Responslbilltle5 and Ba515 of Report Trustees, responsibilities As the Trustees of the charity, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the 2011 Act'l. The Trustees are responslble for safeguarding the assets of Trinity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are required to prepare financial statements that give a true and fair view of the Trinity's financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the Trustees have.. followed applicable accounting standards, including the Charities SORP FRS11021 selected suitable accounting policies and applied them consistently using the accruals method made judgements and estimates that are considered reasonable and prudent prepared the financial statements on the going concern basis. The trustees consider that an audit is not necessary for this year under Section 144 of the Charities Act 2011 Ithe Charities Act) and that an independent examination is needed.
Independent Examlner's responslbllltles 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 14Sl5llbl of the 2011 Act. Independent Examlner's Statement I have completed my examination. I can confirm that no matters have come to my attention in connection with the examination 8ivin8 me cause to believe that in any material respect: l. accountln8 records were not kept In respect of the charity as required by section 130 of the 2011 Act,. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concernlng the form and content of accounts set out In the Charlties (Accounts and Reports) Re8ulations 2008 other than any requlrement 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 acros5 no other matters In connectlon wlth the examination to which attention should be drawn In thls report in order to enable a proper understanding of the account5 to be reached. Andrew Thomas ACA N)'nikiii L.ih%()n P<iuI I.I.P Chartered Accountants 124 Flnchley Road London NW3 5JS Date: 14 May 2024
Statement of Financial Activities {SOFA} for the year ended 31 August 2023 Unrestricted Funds Restrirted Funds Total 2023 Total 2022 Note Income and Endowments from: Donations and le8acies Other trading activitie5 Income from Investments 13,711 3,587 17,298 18,551 81,834 81,834 64,204 1,942 30 1,972 198 Other Income 200 200 3,000 Totsl Income and Endowments 97.687 3,617 101,304 85,953 Expendlture on: Circuit Assessments 13,072 13,072 12,536 Property Costs 26,248 26,248 21,582 Office Expense5 io 14,IS8 14,158 22,409 Other Oulgoing5 li 13,513 104 13,617 13,301 Depreciation 12 5,692 2,563 8,255 10,900 Total Expenditure 72,683 2,667 75,350 80,728 Net movement In funds 25,004 950 25,954 5,225 Reconclllatlon of funds: Total funds brought forward Irestatedl 17&18 5,612,333 13.760 5,626,093 5,620,868 Total funds carrled forward 17&18 5,637,337 14,710 5,652,047 5,626,093
Balance Sheet as at 31 August 2023 Unrestricted Funds Restricted Funds 2023 2022 Irestatedl Note Tangible Fixed Assets 12 Land & Buildings Fixtures & Fittings & Equipment 5,484,346 5,484,346 5,484,346 25,836 11,549 37,385 44.690 Tanglble Assets 5,510,182 11,549 5,521,731 5,529,036 Flxed asset Investments: Trustees for Methodist Church Pur oses de osits Tanglble Assets, Investments flxed a55et5 and Investments 13 7,941 7,941 7,715 5,518,123 11,549 5,529,672 5,536,751 Current Assets Debtors, Prepayments, Acs'd Inc CashAt 8ank and at Hand 14 32,607 32,607 24,790 90,130 3,161 93,291 63,017 Centrol Finance Board Deposlts Total current assets 15 37,687 160,424 37,687 36,421 3,161 163,585 124,228 Total Assets 5,678,547 14,710 5,693,257 5,660,979 CredltorslActruals (due under I yearl 16 41,210 41,210 34,886 Net current assets (Ilabllltle51 119,214 3,161 122,375 89,342 Total assets le$5 eurrent Ilabllltles 5,637,337 14,710 5,652,047 5,626,093 Net assets 5,637,337 14,710 5,652.047 5.626,093" Funds of the Church 17&18 Unrestricted funds 5,637,337 5,637,337 5,612,333 Restricted funds 14,710 14,710 13,760 Endowment funds Total Funds 5,637,337 14,710 5,652,047. 5,626,093* 10
Notes to the Accounts l. Basls ol accountlng al Accountlng Framework The financial statements have been prepared in accordance with Accounting and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102115econd edition) effective l January 2019. and the Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS 102, published September 2015. bl Publlc beneflt entltv Trinity meets the definition of a public beneflt entity under FRS 102. l Goln8 concern To the best of their knowledge and belief, the Trustees conflrm that there are no material uncertainties that would call into questlon Trlnity's financial viability for at least 12 months from the date of approval of these accounts. dl Volunteer contrlbutlons In common with other Methodist and United Reform Churches. Trinity Is heavlly reliant on the contribution5 of volunteers who provide their skills. money and time in a myriad of ways to promote Its work. Trinity Is grateful lor their invaluable help and commitment as wlthout this, the Church could not function, No attempt has been made to monetlse the support given by our volunteer5. 2. Accouritlng pollcle5 al Ba51$ These accounts, except where shown, have been prepared on ihe basls of hlstorScal cost and on the accruals basis to show a true and lair view ol Trinity's flnanclal position and financial activities. bl Recognltlon of Income and Donatlons Income 15 included in the Slatement ol Financlal Actlvlties ISOFAI when Tr5nlty becomes entltled to the resources,. the amounts can be quantified and recelpt ofls probable. Income received in advance of the provlslon of goods and/or services is treated as deferred until the Trinity becornes entitled to that income. All income is reported gr055 With asstsciated fees or costs deducted reported as expenses. Donations are recognised when there is evidence of entitlement, receipt is probable and the amounts can be measured rellably. Where they are given with conditlons, the Trustees evaluate the terms and will reject the donation il they are Illegal or fall oulslde Trlnlty's stated purposes. cl Recognltlon of Expendlture Expenditure 15 accounted for on an accruals ba51S 3nd is recr)gnised when an obllgatSon that can be measured or rellably estimated exists at the reportin8 date and it 15 probable (more likely than not) that payment will be made In settlement. dl Recognltlon of Grant Income and Expenses Grants awarded from Trinity's own resources are reflected in the SOFA in the year In whlch they are approved by the Trustees and the offer is communicated to the reclpient. Grants awarded but not paid are recorded as a liabillty withln the balance sheet. Grant income received by Trinity is recognised as income in the year of receipt. Where a grant is used to purchase an asset. an appropriate amount of the depreciation of the acquired asset (based on the amortisation of the 8rant fund over the life of the acqulred asset) 15 charged to the grant fundlsee notes 12 and 171. el VAT Trinitv 15 not VAT registered so all input VAT is charged with the expenses to whith it refers.
Notes to the Accounts contlnued f) Tanglble Assets Tangible fixed assets are capitalised if their useful life extend5 beyond one year, with a minimum cost of at least £1,000. With the exception tsf the Trinity'5 buildings, they are valued at cost or a reasonable value on receipt. Where cost is not available, the Trustees employ a reasonable estimate of ihe value of the a55et. In the case of the freehold land and building, the Trustees on first time transition to Charities SORP FRS 102 took advantage of the 'deemed cost, option u5in8 the insured value as the methodology to determine cost. The Charitie5 SORP also requires the freèhold land to be separately identified and valued. The Trustees have used a ratio of 90.'10 in apportioning a value between buildings and freehold land. gl Depreclatlon Tangible fixed a55et5 are depreciated on a strai8ht-line basis to their estimated residual valuès over their expected useful lives with the expense charged to the relevant SOFA heading. However. no depreciatSon is charged on land and buildings because the Trustees consider their current deemed value to be not less than their value at the end of their useful life. The charlty operates a rolllng pro8ramme ol repairs and rnaintenance to prolong the useful life of the property and tts ensure that the above policy continue5 to be appropriate. The depreclalion rares for the dlffereni tategorles of tangible a55ets are set out below.. Freehold land and buildings Equipment Bullding Fixtures & Flttlngs Fixtures & Flttln85 Furniture IT & Audio-visual equipment 10 years 10 years 7 Years 5 years 3 to 5 years hl Inve5tment5 Investments are valued In the balance sheet at market value at the year-end. Investment income is included in the SOFA when receivable and any 83ins or10sses on revaluation at the year-end are shown in the SOFA. 11 Debtor5 and Prepayments Debtor5 are amounts owed for the provision ol goods and services. They are measured at the amount Trinlty believes will be recoverable. They are regularly reviewed and a specific provision applied where appropriate. A 88neral provision 15 also used as a contlngency. Advance payments for 8oods and servi¢es are treated a5 prepayments and rneasyred at the amount paid. 11 Credltors Creditors include outstanding liabilitles relating tL) Utilities, telephones and other expenses In¢urred, for which invoices and liabllitles have not been settled al the year-end. kl Accountln8 E5tlmates and Judgments In preparin8 the financial statements, the Trustees are required to make estimates and judgments. The areas considered to be important in understanding the estlmates and judgments used in the preparation of the financial statements include.. donated goods and servicès including volunteer services (see note Ildll., valuation of buildlngs15ee note5 2 (fl and 2181),. the separate valuation of land Isee note 2lfll and fund5 set a51de for buildln8 maintenance and repalrs Isee note 171. 11 Fund Pollcy General Fundg represent funds of the charity which are not Subject to any special restrictions and may be used lor any purpose determined by the Trustees. The level of this fund is set out in the reserve5 policy Inote 2lmll below. The Trustees may from time to time set aside part of the general fund for particular purposes. These designated funds include fund5 for maintenance of the buildings, acquisition of tangible assets and other purposes. The a5set5 of the desi8n8ted funds are mainly sourced frorn donatlons and unrestricted bequests and have both rnonetary and tangible asset components. A5 the name implies. restricted fund5 are funds held for a specific purpose and can only be used for that purposè alone. ml Free Reserves pollcy Trinity's free reserves policy is aimed at having sufficient unrestricted liquid funds to bridge temporary shortfalls in the income to cover costs and to meet unforeseen expenditure. To that end. the Trustees try to ensure that the charity has free reserves or a general fund lunrestricted liquid fund5 which are not designated in nature) to cover six to nine month's expenditure. The attual level is regularly monitored and the policy is kept under review. particularly following the drainin8 impact of the Covid pandemic on TrinitY'5 resources. 12
Notes to the Accounts continued 3. Donatlon5 and legacle5 Unrestrlcted Restrirted Funds 2023 Total 2022 Total Collections Tax Credits Donations 12.270 1,041 400 3.587 15.857 1,041 400 16,405 1.096 1,050 Le8acles Total 13,711 3,587 17,298 18,551 4. Other tradSn8 aCtlvlt5es Unrestrlcted Restrlrted Funds 2023 Total 2022 Total Lettings- Halls Lettin8s- Flat Manse Rentals Total 60,439 16,747 4.648 81,834 60,439 16,747 4,648 81,834 43,510 16,118 4,576 64,204 5. Investment Income Unre5trl¢ted Restrlcted Funds 2023 Total 2022 Total Central Flnance Board Other 1.266 676 30 1,296 676 152 46 Total 1,942 30 1,972 198 6. Other Income Unrestrlcted Restrl¢ted Fund5 2023 Total 2022 Total sundry Income Grant Income 2CKI 200 3.000 Total 200 200 3,000 The grant income was recelved from the URC Tharnes North Synod in connection with the upgrade ol audio.visual equipment. 7. Salarlès and associated costs èl The charity did not have èny èmployee during the year. bl The charity conslders its Trustees to be the key mana8ement personnel. No employmeni benefits were paid to key managemeni personnel during the current year or prior year. 13
Notes to the Accounts contlnued 8. Cirtult Assessments Unrestricted Restricted Funds 2023 Total 2022 Total Barnet & Queensburv URC 10,000 3,072 13.072 10,000 3,072 13,072 10,000 2.536 Tot41 12,536 9. Property Cost5 Unrestrl¢ted Restrlcted Funds 2023 2022 CleanSn8 Gardening & Refuse Securlty Repairs & maintenance Total 7,370 1,445 52 7,370 1,445 52 5,514 1,644 414 17.381 26,248 17,381 26.248 14,010 21.582 10. Offlce Expenses Unrestrlcted Restrltted Funds 2023 2022 Electriclty Gas Water Rates & Councll Telephone & Internet Insurance Total Utllltles 3,757 4,653 253 1,430 4,065 14,158 3,757 4,653 253 2,118 15,148 173 1,430 4,065 14,158 1.284 3.686 22.409 11. Other Outgoln8S Unrestrlcted Restflrted Funds 2023 2022 Reimbursement Minister's Expenses Or8anlst Visiting Rev-Travel Expenses Worship Books & Materials Fund Raising Expenses Printing & Stationerv Other Remuneration Equipment Purchases Travel & Transportation Entertainment & Refreshment Functions Celebration5 & Gifts Le8al & Professional Expen5e5 Subscriptions & Membership Bank Charges & Interest Write-offs (Write Backl debts Stewardin8 Fees Sundry Payments Total Other Expeftditure 2.385 405 2,385 405 2,475 495 160 104 264 1,015 1,380 1,380 1,689 1,092 1,092 1,502 1,540 1,540 871 315 3,096 soo 3,096 500 2,823 471 2QK) 200 178 384 865 1,800 955 1,800 955 218 13,513 14 104 13,617 13,301
Notes to the Accounts ¢ontinued 12. Tangible Fixed Assets Cost or valuation Church (non- Investment) land and buildin85 Fixtures, fitt4nBs and equlpment Totol Bal blfwd. Additions Revaluatlon 5,484,346 77,448 950 5.561.794 950 Oisp05als l.) Transfefs Bal C.Ifwd. 5,484,346 78,398 5,562,744 Accumulated depreclatlon Bal bld. Charged to Impalrment/ Disposals l-l Transfers 132,7581 18,2551 132.7581 18,2551 Bal C,Ifwd. 141,0131 141.0131 Net Book Value Bal blfvid. 5,484,346 44,690 5,529,036 Bal C.lfvid. 5,484,346 37,385 5,521,731 The purchase of an organ was in part financed by 8rant income of £9,000. An equlvalent amount of the organ asset Is therefore treated a5 a restricted asset with its useful lile110 yearsl and depreciatitsn mirrorin8 that of the unrestricted ¢omponent. With a combined carrying Cost ol E5,484.346 lor freehold land and buildings,. the TTUStees estimated a value of £548,435 IIO%l for the freehold land and £4,935.911190%1 lor the buildings Isee notes 2lfl and2lgll. 13, Investments The Trustees comply wlth both charlty law and Methodlst law and pollcy as determined by the Methodist Conference. The funds that support the various funds are held by The Trustees for Methodist Church Purposes ITMCPI In Trustees, Interest Funds on which interest 15 credited each month. These are re8arded a5 medium and lon8-term inve5tmentS. TMCP 15 the le8al owner and Custodian frustee of all Methodist Model Trust property. includlng Le8acles, Endowment5 and Accumulated Funds. Trust property is held for ènd on behalf of local Managlng Trustees who are responsible for the day-to- day mana8ement ol trust property. TMCP ensures that. through providing guidance and by acting under their direction, the Mana8in8 Trustees cornply with charity law and Methodist law and policy as determined by the Methodist Conference. Analysls of Investment movements 2023 2022 Carrying Imarketl value at beginning of year Add.. additions to investments at C05t Less.. disposals at carrylng value Net gainlllossl on revaluation Carryin8 Imarketl value at end of year 7.715 226 7,701 14 7.941 7.715 The investment comprise various long standin8 bequests held at TMCP.
Notes to the Accounts contlnued Analysls of current assets 14, Debtors and Prepayments 2023 2022 Total Total Debtor5 Accrued Income Prepayments Total 22,589 6,405 3.613 32,607 16,364 3.342 5.084 24.790 15. Central Flnance Board Deposlts 2023 Total 2022 Total 37,687 36,421 16. Current Llabllltl*s 2023 Total 2022 Total Cash Advanced by User5 Accruals Deferred Income Other Creditors 10,498 6,191 21,521 3,000 41,210 4,284 12,154 15.448 3,000 34.886 Current Llabllitles Movement In Defèrred Intome Account 2023 2022 Balance 8IFwd Amounts added from SOFA Amount5 released to SOFA Balance at perlod-end 15,448 21.521 115,4481 21,521 10,143 15,448 110,1431 15,448 Deferred income repre5ent5 invoice5 billed lo licensees for hall and room hire durlng the current year but where usa8e actually occurs in rhe next accounting peTlOd. 17 Restatement of Prlor Year Balances The Trustees agreed in the year that the provisions balance set aside to spend on capltal and rnalntenance work relating to the Trinity Church buildin8 should have been classified as a designated fund. rather than a balance Sheet provision. The balance totalling £183,694) has therefore been reclassified in the current year to correct the error. Thi5 ha5 included a restatement of prior year and opening balances lor funds in tho SOFA, balance sheet and the analysis of fund movements and net assets between funds in notes 18 and 19 below. The effects of the adjustment have been to increase a5 at I September 2021 the Unrestricted Funds total from £5,528,210 to £5,611,904 and Total Funds and Net Assets from £5,537,175 to £5,620,869 and as at I September 2022 the Unrestricted Funds total from £5,528,639 to £5,612,333 and Total Fund5 and Net Assets from £5.542.399 to £5,626.093. 16
Notes to the Account5 continued 18. Detalled analysls of fund movements Unrestrirted Funds 2023 Fund Name Opeft¥fig Balaftee As restated Income Expendlture Transfers Revaluatlon Closin8 Balance General Llquld Funds 12.765 97,687 166,9911 43,461 Deslznated Funds Bulldlng Repalrs Fund Total Llquld Non-Llquld Funds Totals Unrestrlrted 83,694 96,459 5,515,874 5,612,333 83.694 127,155 5,510,182 5,637,337 97,687 166,9911 15,6921 172.6831 97,687 Restrlcttd Fund$ 2023 Openln8 Balance Income Empendlture Transfers Revaluatlon Closin8 balance *Restrlcted Llquld Funds Restrlcted Non-Llquid 'Total Restrlrted Fund5 598 3,617 950 4,567 11,0541 12,5631 13,6171 3,161 11,549 14,710 13,760 Total Funds 5,626,093 102,254 176,3001 5,652,047 Analysls of Restrlcted Funds 2023 Llquld Non-llquld Total Kenyon Room Fund 8enevolence Fund Flower Fund IT & Audio-visual Fund Organ Fund Toial 1,654 1.289 218 4,949 6,603 1,289 218 2,100 4.500 14,710 2,100 4,500 11,549 3,161 Trinity holds several restrlcted funds whlch comprlse monetary and tangible assets The most significant are the rnonetary and fixtures and fittings of the ongoing refurbishment of the Kenyon room.. the component of the organ purchased with a grant,. fund raising to acquire audio visual equiprnent as well as a benevolence fund. Unrestrlcted Funds 2022 Fund Name Openln8 Balance As restated Closlng Balance Income Expendltt4re Transfers Revaluatlon General Llquld Funds 8,916 77,510 173,6611 12.765 Deslgnated Fund5 Bulldlng Repalrs Fund Tot31 Llquld Non-Llquld Funds Totals Unrestrlcted 83,694 92,610 5.519,294 5.611,904 83,694 96,459 S,SIS,874 5,612,333 77,510 173,6611 13,4201 177,0811 77.510 17
Notes to the Accounts contlnued IB. Detailed analysis of fund movements continued Restrlcted Funds 2022 Openln8 Balance Income Expendlture Transfers Revaluatlon Closlng Bal3n¢e 'Restrlcted Llquld Funds Rèstrlcted Non-Liquid •Total Restrl¢ted Funds 2,065 6,900 8,965 11,4671 12,1711 13,6381 598 13,162 13.760 8,433 8,433 Total Funds 5,620,869 85.943 180,7191 5,626.093 Analysls of Restrlcted Funds 2022 LSquSd Non 4iquld Total Kenyon Room Fund Benevolence Fund Flower Fund 19321 1,259 272 4,961 4,029 1,259 272 IT & Audio-Vi5ual Fund Organ Fund Total 2,800 5,400 13,161 2,800 5,400 13,760 599 In addition to the unrestricted funds recorded on the balance sheet, Trinity can draw on The 5t Ninian'5 Golders Green Fund a 'deslgnated fund, held by URC North Thames Trust. This fund althou8h held in the latter's Trustee accounts, is lor the sole use of Trlnity and was orlginally esiabllshed from the proceeds of property sales following the merger ol the two Methodlst and Presbyterian Churches In 1979 to form the current Trlnliy (Methodist /united Relormedl Church. At the balance sheet date, the total value ol the funds lincludin8 capltal and interest) was £188,53412022'. £182,238). 19. Analysls of net assets between funds 2023 Irestaledl Unrestrlcted Funds Restrlcted Funds Total Funds Tan8ible fixed assets Investment assets Current assets Creditors < I year Tota 5,510,182 7.941 160,424 141,2101 S,637,337 11,549 5,521,731 7,941 163,585 141,2101 5,652.047 3,161 14.710 2022 Irestatedl Unrestrlcted Restrlded Total Funds Funds Funds Tangible fixed a5set5 Investment assets 5,515,874 7,715 123,630 134.8861 5,612,333 13,162 5,529.036 7,715 124,228 141,2101 5.626.093 Current assets 598 Creditors < l year Total 13,760 18
Notes to the Accourrts contlnued 20. Renumeration of Trustèes and Reimbursement of Trustee Expenses. al None of the trustees received any remuneration or other benefits from ars employment with the charity. bl None of the Trustees had their expenses reimbursed by the charitv. 21. Fees for examlnatlon of the accounts 2023 2022 Fees for examination of the accounts 1,320 1,320 22. Related party tran5actton5 There were no related party transactions during the reporting period. 19