**Trinity (Methodist/United Reformed) Church**
**90 Hodford Road, Golders Green, London, NW11 8EG**
**Charity N[o ] 1155990**
## **TRUSTEES’ ANNUAL REPORT**
_**for the year ended:**_
**31 AUGUST 2024**
## **Contents**
||Page|
|---|---|
|Trustees' Report|3-6|
|Declarations|7-8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Notes to the Accounts|11-18|
2
The Trustees of Trinity (Methodist / United Reformed) Church (‘Trinity’) present their Annual Report for the year ended 31 August 2024.
## **1. Objectives and activities**
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 (‘URC’) denominations. The Trustees takes their responsibilities to the Charity Commission seriously and follow their guidelines concerning public benefit in relation 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 acts of worship. It also organises and resources regular public acts 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 including visiting the sick and bereaved, provision of facilities with a Christian ethos for the local community, including but not restricted to the elderly, the young 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. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)’.
## **2. Achievements and Performance**
During 2023-24, 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 significant 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 Financial Performance for the year**
Trinity’s surplus for the year at £21,810 was lower than last year (£25,954) as higher expenditure was only partially offset by improved income. Total receipts for the year (£108,472) were 7% above prior year (£101,304) with higher flat rentals (£23,400; 2023: £16,747) and improved interest income (£4,055; 2023: £1,972) more than offsetting lower offertory collections (£13,129; 2023: £15,857). Expenditure for the year (£86,662) was 15% above last year (£75,350); explained by higher utilities (£12,765) with last year (2023: £8,410) benefitting from credit adjustments; together with non-recuring costs associated with a rejected planning application. Total reserves balances stood at £5,673,857 (2023: £5,652,047), comprising an unrestricted fund balance of 5,658,712 (2023: £5,637,337) and restricted fund balances of £15,145 (2023: £14,710). The former (£5,658,712) was classified into designated property assets of £5,514,189 (2023: £5,510,182) and monetary funds of £144,523 (2023: £127,155) of which £60,829 were free reserves (2023: £ 43,461) and £83,694 of designated building repairs funds (unchanged from last year). Restricted funds (£15,145) comprise property assets of £12,165 (2023: £11,549) and restricted monetary funds of £2,980 (2023: £3,161). Total property assets £5,526.354 (2023: £5,521,731) had unrestricted and restricted components of £5,514,189 (2023: £5,510,182 and £12,165 (2023: £11,549) respectively.
3
## **3.2 Reserves policy**
Trinity’s free reserves policy aims to have sufficient unrestricted free reserves to cover six to nine month’s average expenditure. This was exceeded as period end free reserves £60,829 improved from last year (2023: £43,461) providing coverage for about 10 months compared with 6 months last year.
## **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 Risks and Uncertainties**
The issues highlighted in last year’s report remain relevant. On the income side, the main uncertainties cover the areas of donations and rental activities. Church attendance which directly impact on donations remain well below pre pandemic levels though efforts to encourage remittances by bank transfer may mitigate this adverse trend. Whilst trading income has stabilised, hall rentals in particular remain well below pre-pandemic levels with the main concern being the loss of key long-term licensees. Increasing our rental portfolio will help reduce over reliance on any one account. On the expenditure side, whist high inflation in recent years has lessened, cost overruns arising from supplier price increases and unanticipated expenditures remain live issues. These factors will be increasingly pertinent in coming years as Trinity starts its building repairs programme.
## **4. Structure, 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 (LEP), it is governed by its constitution adopted on 7 July 2013 and is part of the Barnet & Queensbury Methodist Circuit (BQMC) and Thames North Synod (TNS) 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 (TMCP) 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% and 25% respectively with BQMC acting as the Managing Trustees. The management of Trinity’s buildings is governed by the Methodist Church Act 1976, the Deed of Union and the Model Trust Deeds of the Methodist Church.
Elected Trustees are appointed at the Annual Congregational Meeting (ACM) and serve for an initial 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 1 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 Standing Orders. Trustee meetings are held at least once a quarter and they report to Congregational Meetings at least once a year. Trinity is supported by a part-time administrator and a dedicated group of lay volunteers.
4
## **5. Reference and Administrative Details**
## **5.1 Name of the charity**
Trinity (Methodist/United Reformed) Church, Golders Green
## **5.2 Charity registration number**
1155990, registered in England and Wales
## **5.3 Principal Office**
Trinity Church 90 Hodford Road London NW11 8EG
## **5.4 Treasurer**
Mrs Charlotte Silwizya
## **5.5 Names of Trustees**
The following served as Trustees throughout part or all of the year 2023-24 or were Trustees at the time of this report being approved:
Rev’d Dr Martin Wellings (Chair) Mr Ivan Bonnett Mr Eric Brown Mrs Elaine Brown Ms Mary Brown Dr Bitrus Danboyi Ms Minny Gilles Mrs Edna Kofi -Oputa (appointed 9 June 2024) Ms Encarnacion Manalili Mrs Janet Morrison (resigned 9 June 2024 Ms Theodora Matey Mrs Charlotte Silwizya (Treasurer) Mrs Georgina Siriboe Ms Helen Tanedo Mrs 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 SW1V 1EJ
Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE
5
## **5.7 Investment Managers and Custodian Trustees**
Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ
## **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 8 June 2025 and will be presented to the members at the Annual Congregational Meeting on 8 June 2025.
Signed on behalf of the Trustees by:
|Signed|Rev’d Dr Martin Wellings|Signed|Charlotte Silwizya|
|---|---|---|---|
||Chair of Trustees|Position:|Treasurer|
|Date|8 June 2025|Date|8 June 2025|
6
## **DECLARATIONS**
## **Treasurer**
I confirm that the accounts and financial statements for the year ended 31 August 2024 have been prepared from the records of Trinity and that they include all funds under the control of the Trustees.
Signed: Charlotte Silwizya
Date 8 June 2025
Name of Treasurer: Charlotte Silwizya
Address: 90 Hodford Road Golders Green London NW11 8EG
## **Independent Examiner's Report to the Trustees of Trinity (Methodist/United Reformed) Church, Golders Green (the 'charity').**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2024.
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I 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.
## **Responsibilities and Basis 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 2011 ('the 2011 Act').
The Trustees are responsible 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 FRS (102)
- 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 (the Charities Act) and that an independent examination is needed.
7
Independent Examlner's responslbllltles
I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011
Art and in carrying out my examination I have followed all the applicable Direction5 given by the Charity
Commission under section 145151{bl of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I can confirm that no matters have come to my attention in connection
with the examination giving me cause to believe that in any material respect:
l. accounting records were not kept in respect of the charity as required by sertion 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 concerning the form and content of
accounts set out in the Charities (Accounts and Reportsl Regulations 21x18 other than any requirement
that the accounts give a 'true and fair, view which is not a matter considered as part of an independent
examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report In order to enable a proper understanding of the accounts to be
reached.
AndrewThomas A
Nym8n Libson Paul LLP
Chartered Accountants
124 Finchley Road
London
NW3 5JS
Date..
iJ>
## **Statement of Financial Activities (SOFA) for the year ended 31 August 2024**
||**Note**|**Unrestricted**
**Funds**
**£**|**Restricted**
**Funds**
**£**|**Total**
**2024**
**£**|**Total**
**2023**
**£**|
|---|---|---|---|---|---|
|**Income and Endowments from:**||||||
|Donations and legacies|3|11,807|3,612|15,419|17,298|
|Other trading activities|4|88,428|-|88,428|81,834|
|Income from Investments|5|3,982|73|4,055|1,972|
|Other Income|6|570|-|570|200|
|**Total Income and Endowments**||**104,787**|**3,685**|**108,472**|**101,304**|
|||||||
|**Expenditure on:**||||||
|Circuit Assessments|8|14,000|-|14,000|13,072|
|Property Costs|9|26,219|-|26,219|26,248|
|Office Expenses|10|19,098|-|19,098|14,158|
|Other Outgoings|11|17,988|-|17,988|13,617|
|Depreciation|12|6,107|3,250|9,357|8,255|
|**Total Expenditure**||**83,412**|**3,250**|**86,662**|**75,350**|
|||||||
|**Net movement in funds**||**21,375**|**435**|**21,810**|**25,954**|
|||||||
|**Reconciliation of funds:**|||||-|
|Total funds brought forward|17|**5,637,337**|**14,710**|**5,652,047**|**5,626,093**|
|||||||
|**Total funds carried forward**|17|**5,658,712**|**15,145**|**5,673,857**|**5,652,047**|
9
## **Balance Sheet as at 31 August 2024**
|||**Unrestricted**
**Funds**
**£**|**Restricted**
**Funds**
**£**|**2024**
**£**|**2023**
**£**|
|---|---|---|---|---|---|
||**Note**|||||
|**Tangible Fixed Assets**|12|||||
|Land & Buildings||5,484,346|-|5,484,346|5,484,346|
|Fixtures & Fittings & Equipment||29,843|12,165|42,008|37,385|
|**Tangible Assets**||**5,514,189**|**12,165**|**5,526,354**|**5,521,731**|
|**Fixed asset Investments:**|||||**-**|
|Trustees for Methodist Church
Purposes deposits|13|8,347|**-**|8,347|**7,941**|
|
**Tangible Assets, Investments fixed**
**assets and Investments**||**5,522,536**|**12,165**|**5,534,701**|**5,529,672**|
|**Current Assets**||||||
|Debtors, Prepayments, Acs’d Inc|14|27,684|-|27,684|32,607|
|Cash At Bank and at Hand|-|101,865|2,980|104,845|93,291|
|Central Finance Board Deposits|15|39,661||39,661|37,687|
|**Total current assets**||**169,210**|**2,980**|**172,190**|**163,585**|
|||||||
|||||||
|**Creditors/Accruals (due under 1**
**year)**|16|**33,034**|-|**33,034**|41,210|
|||||||
|**Net current assets (liabilities)**||**136,176**|**2980**|**139,156**|**122,375**|
|||||||
|**Total assets less current liabilities**||**5,658,712**|**15,145**|**5,673,857**|**5,652,047**|
|||||||
|**Total net assets**||**5,658,712**|**15,145**|**5,673,857**|**5,652,047**|
|**Funds of the Church:**|17|||||
|Unrestricted funds||**5,658,712**||**5,658,712**|**5,637,337**|
|Restricted funds|||**15,145**|**15,145**|**14,710**|
|Endowment funds||**-**|**-**|**-**|**-**|
|**Total Funds**||**5,658,712**|**15,145**|**5,673,857**|**5,652,047**|
10
**Notes to the Accounts**
## **1. Basis of accounting**
## **a) Accounting Framework**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition) effective 1 January 2019, and the Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS 102.
## **b) Public benefit entity**
Trinity meets the definition of a public benefit entity under FRS 102.
## **c) 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.
## **d) Volunteer contributions**
In common with other Methodist and United Reform Churches, Trinity is heavily reliant on the contributions of volunteers who provide their skills, money and time in a myriad of ways to promote its work. Trinity is grateful for their invaluable help and commitment as without this, the Church could not function. No attempt has been made to monetise the support given by our volunteers.
## **2. Accounting policies**
## **a) Basis**
These accounts, except where shown, have been prepared on the basis of historical cost and on the accruals basis to show a true and fair view of Trinity's financial position and financial activities.
## **b) Recognition of Income and Donations**
Income is included in the Statement of Financial Activities (SOFA) when Trinity becomes entitled to the resources; the amounts can be quantified and receipt of is probable. Income received in advance of the provision of goods and/or services is treated as deferred until the Trinity becomes entitled to that income. All income is reported gross with associated 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 reliably. Where they are given with conditions, the Trustees evaluate the terms and will reject the donation if they are illegal or fall outside Trinity’s stated purposes.
## **c) Recognition of Expenditure**
Expenditure is accounted for on an accruals basis and is recognised when an obligation that can be measured or reliably estimated exists at the reporting date and it is probable (more likely than not) that payment will be made in settlement.
## **d) Recognition of Grant Income and Expenses**
Grants awarded from Trinity’s own resources are reflected in the SOFA in the year in which they are approved by the Trustees and the offer is communicated to the recipient. Grants awarded but not paid are recorded as a liability within 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 grant fund over the life of the acquired asset) is charged to the grant fund (see notes 12 and 17).
## **e) VAT**
Trinity is not VAT registered so all input VAT is charged with the expenses to which it refers.
11
## **Notes to the Accounts continued**
## **f) Tangible Assets**
Tangible fixed assets are capitalised if their useful life extends beyond one year, with a minimum cost of at least £1,000. With the exception of the Trinity’s buildings, they are valued at cost or a reasonable value on receipt. Where cost is not available, the Trustees employ a reasonable estimate of the value of the asset. 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 using the insured value as the methodology to determine cost. The Charities SORP also requires the freehold 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.
## **g) Depreciation**
Tangible fixed assets are depreciated on a straight-line basis to their estimated residual values over their expected useful lives with the expense charged to the relevant SOFA heading. However, no depreciation 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 charity operates a rolling programme of repairs and maintenance to prolong the useful life of the property and to ensure that the above policy continues to be appropriate.
The depreciation rates for the different categories of tangible assets are set out below: Freehold land and buildings nil Equipment 10 years Building Fixtures & Fittings 10 years Fixtures & Fittings 7 Years Furniture 5 years IT & Audio-Visual equipment 3 to 5 years
## **h) Investments**
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 gains or losses on revaluation at the year-end are shown in the SOFA.
## **i) Debtors and Prepayments**
Debtors are amounts owed for the provision of goods and services. They are measured at the amount Trinity believes will be recoverable. They are regularly reviewed and a specific provision applied where appropriate. A general provision is also used as a contingency. Advance payments for goods and services are treated as prepayments and measured at the amount paid.
## **j) Creditors**
Creditors include outstanding liabilities relating to utilities, telephones and other expenses incurred, for which invoices and liabilities have not been settled at the year-end.
## **k) Accounting Estimates and Judgments**
In preparing the financial statements, the Trustees are required to make estimates and judgments. The areas considered to be important in understanding the estimates and judgments used in the preparation of the financial statements include: donated goods and services including volunteer services (see note 1(d)); valuation of buildings (see notes 2 (f) and 2(g)); the separate valuation of land (see note 2(f)) and funds set aside for building maintenance and repairs (see note 17).
## **l) Fund Policy**
General Funds represent funds of the charity which are not subject to any special restrictions and may be used for any purpose determined by the Trustees. The level of this fund is set out in the reserves policy (note 2(m)) below. The Trustees may from time to time set aside part of the general fund for particular purposes. These designated funds include funds for maintenance of the buildings, acquisition of tangible assets and other purposes. The assets of the designated funds are mainly sourced from donations and unrestricted bequests and have both monetary and tangible asset components. As the name implies, restricted funds are funds held for a specific purpose and can only be used for that purpose alone.
## **m) Free Reserves policy**
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 (unrestricted liquid funds which are not designated in nature) to cover six to nine month’s expenditure. The actual level is regularly monitored and the policy is kept under review, particularly following the draining impact of the Covid pandemic on Trinity’s resources.
12
## **Notes to the Accounts continued**
## **3. Donations and legacies**
|Collections
Tax credits
Donations
**Total**|**Unrestricted**
**Restricted**
**Funds**
**2024**
**Total**
**2023**
**Total**|
|---|---|
||**£**
**£**
**£**
9,717
3,612
13,329
15,857
2,090
-
2,090
1,041
-
-
-
400|
||**11,807**
**3,612**
**15,419**
**17,298**|
## **4. Other trading activities**
Lettings- Halls Lettings- Flat Manse Rentals **Total**
|**Unrestricted**|**Restricted**
**Funds**|**2024**
**Total**|**2023**
**Total**|
|---|---|---|---|
|**£**|**£**|**£**|**£**|
|60,063|-|60,063|60,439|
|23,400|-|23,400|16,747|
|4,965|-|4,965|4,648|
|**88,428**|**-**|**88,428**|**81,834**|
## **5. Investment Income**
|Central Finance Board
Other
**Total**|**Unrestricted**
**Restricted**
**Funds**
**2024**
**Total**
**2023**
**Total**|
|---|---|
||**£**
**£**
**£**
**£**
1,974
-
1,974
1,296
2,008
73
2,081
676|
||**3,982**
**73**
**4,055**
**1,972**|
## **6. Other Income**
|Sundry Income
**Total**|**Unrestricted**
**Restricted**
**Funds**
**2024**
**Total**
**2023**
**Total**|
|---|---|
||**£**
**£**
**£**
**£**
570
-
570
200|
||**570**
**-**
**570**
**200**|
## **7. Salaries and associated costs**
a) The charity did not have any employees during the year.
b) The charity considers its Trustees to be the key management personnel. No employment benefits were paid to key management personnel during the current year or prior year.
13
**Notes to the Accounts continued 8. Circuit Assessments**
|**counts continued**
**ments**||
|---|---|
|Barnet & Queensbury
U-RC
**Total**|**Unrestricted**
**Restricted**
**Funds**
**2024**
**Total**
**2023**
**Total**
**£**
**£**
**£**
**£**|
||10,200
-
10,200
10,000
3,800
-
3,800
3,072|
||**14,000**
-
**14,000**
**13,072**|
## **9. Property Costs**
|Cleaning
Gardening & Refuse
Security
Repairs & maintenance
**Total**|**Unrestricted**
**Restricted**
**Funds**
**2024**
**2023**
**£**
**£**
**£**
**£**
7,096
-
7,096
7,370
2,219
-
2,219
1,445
24
-
24
52
16,880
-
16,880
17,381
**26,219**
**26,219**
**26,248**|
|---|---|
## **10. Office Expenses**
|**ses**||
|---|---|
|Electricity
Gas
Water Rates & Council Tax
Telephone & Internet
Insurance
**Total Utilities**|**Unrestricted**
**Restricted**
**Funds**
**2024**
**2023**
**£**
**£**
**£**
**£**|
||2,014
-
2,014
3,757
10,751
-
10,751
4,653
328
-
328
253
1,645
-
1,645
1,430
4,360
-
4,360
4,065|
||**19,098**
**19,098**
**14,158**|
## **11. Other Outgoings**
|**ings**||
|---|---|
|Reimbursement Minister's Expenses
Organist
Visiting Rev-Travel Expenses
Worship Books & Materials
Fund Raising Expenses
Printing & Stationery
Other Remuneration
Equipment Purchases
Travel & Transportation
Entertainment & Refreshment
Functions Celebrations & Gifts
Legal & Professional Expenses
Subscriptions & Membership
Bank Charges & Interest
Write-offs (Write Back) debts
Stewarding Fees
Sundry Payments
**Total Other Expenditure**|**Unrestricted**
**Restricted**
**Funds**
**2024**
**2023**
**£**
**£**
**£**
**£**|
||-
-
-
-
3,270
-
3,270
2,385
780
-
780
405
311
-
311
264
-
-
-
-
775
-
775
1,380
-
-
-
-
80
-
80
1,092
-
-
-
-
862
-
862
1,540
320
-
320
-
8,658
-
8,658
3,096
529
-
529
500
205
-
205
200
361
-
361
-
1,480
-
1,480
1,800
357
-
357
955|
||**17,988**
**17,988**
**13,617**|
14
**Notes to the Accounts continued**
## **12. Tangible Fixed Assets Cost or valuation**
|**Bal b/fwd.**
Additions
Revaluation (+/-)
Disposals (-)
Transfers* (+/-)
**Bal C./fwd.**
**Accumulated depreciation**
**Bal b/fwd.**
Charged to SOFA1
Impairment/Reval
Disposals (-)
Transfers* (+/-)
**Bal C./fwd.**
**Net Book Value**
**Bal b/fwd.**
**Bal C./fwd.**||**Church**
**(non-**
**investment)**
**land and**
**buildings**
**Fixtures,**
**fittings and**
**equipment**
**Total**
**£**
**£**
**£**
**5,484,346**
**78,398**
**5,562,744**
-
13,980
13,980
-
-
-
-
-
-
-
-
-
**5,484,346**
**92,378**
**5,576,724**|
|---|---|---|
||||
||||
||||
||||
|||**-**
**(41,013)**
**(41,013)**|
|||-
(9,357)
(9,357)
-
-
-
-
-
-
-
-
-|
|||**-**
**(50,370)**
**(50,370)**|
||||
|||**5,484,346**
**37,385**
**5,521,731**|
|||**5,484,346**
**42,008**
**5,526,354**|
1 The purchase of an organ was in part financed by grant income of £9,000. An equivalent amount of the organ asset is therefore treated as a restricted asset with its useful life (10 years) and depreciation mirroring that of the unrestricted component. 2 With a combined carrying cost of £5,484.346 for freehold land and buildings; the Trustees estimated a value of £548,435 (10%) for the freehold land and £4,935,911 (90%) for the buildings (see notes 2(f) and2(g)).
## **13. Investments**
The Trustees comply with both charity law and Methodist law and policy as determined by the Methodist Conference. The funds that support the various funds are held by The Trustees for Methodist Church Purposes (TMCP) in Trustees' Interest Funds on which interest is credited each month. These are regarded as medium and long-term investments.
TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day-today management of trust property. TMCP ensures that, through providing guidance and by acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.
## **Analysis of investment movements**
|Carrying (market) value at beginning of year
Add: additions to investments at cost
Less: disposals at carrying value
Net gain/(loss) on revaluation
**Carrying (market) value at end of year**|**2024**
**£**
**2023**
**£**|
|---|---|
||7,941
7,715
406
226
-
-
-
-|
||**8,347**
**7,941**|
The investment comprise various long-standing bequests held at TMCP.
15
**Notes to the Accounts continued**
## **Analysis of current assets**
## **14. Debtors and Prepayments**
|**Debtors**
**Accrued Income**
**Prepayments**
**Total**|**2024**
**2023**
**Total**
**Total**|
|---|---|
||**£**
**£**|
||20,628
22,589
3,320
6,405
3,736
3,613|
||**27,684**
**32,607**|
## **15. Central Finance Board Deposits**
|Balance B/Fwd.
Net Interest Income
**Balance at period-end**|**2024**
**2023**
**£**
**£**|
|---|---|
||37,687
36,805
1,974
882|
||**39,661**
**37,687**|
## **16. Current Liabilities**
|Cash Advanced by Users
Accruals
Deferred Income
Other Creditors
**Current Liabilities**|**2024**
**Total**
**2023**
**Total**
**£**
**£**|
|---|---|
||6,596
10,498
8,611
6,191
14,827
21,521
3,000
3,000|
||**33,034**
**41,210**|
## **Movement in Deferred Income Account**
|Balance B/Fwd.
Amounts added from SOFA
Amounts released to SOFA
**Balance at period-end**|**2024**
**2023**
**£**
**£**|
|---|---|
||21,521
15,448
14,827
21,521
(21,521)
(15,448)|
||**14,827**
**21.521**|
Deferred income represents invoices billed to licensees for hall and room hire during the current year but where usage actually occurs in the next accounting period.
16
**Notes to the Accounts continued**
## **17. Detailed analysis of fund movements**
## **Unrestricted Funds 2024**
|**Unrestricted Funds 2024**|**Unrestricted Funds 2024**||
|---|---|---|
|**Fund Name**
**General Free Reserves**
**Designated Funds**
**Building Repairs Fund**
**Total Monetary Funds**
**Property Assets (Unrestricted)**
**Total Designated Funds**
**Totals Unrestricted Funds**
**Restricted Funds 2024**
**Fund Name**
**Monetary Funds (Restricted)**
**Property Assets (Restricted)**
**Total Restricted Funds**
**Total Funds**
**Unrestricted Funds 2023**
**Fund Name**
**General Free Reserves**
**Designated Funds**
**Building Repairs Fund**
**Total Monetary Funds**
**Property Assets (Unrestricted)**
**Total Designated Funds**
**Totals Unrestricted Funds**
**Restricted Funds 2023**
**Monetary Funds (Restricted)**
**Property Assets (Restricted)**
**Total Restricted Funds**
**Total Funds**||**Opening Balance**
**As restated**
**Income**
**Expenditure**
**Transfers**
**Gains**
**(Losses)**
**Closing**
**Balance**
**£**
**£**
**£**
**£**
**£**
**£**|
|||**43,461**
104,787
(87,419)
-
-
**60,829**
**83,694**
-
-
-
-
**83,694**|
|||**127,155**
**104,787**
**(87,419)**
**-**
**-**
**144,523**|
|||**5,510,182**
**10,114**
**(6,107)**
**-**
**-**
**5,514,189**|
||||
|||**5,593,876**
**10,114**
**(6,107)**
**-**
**-**
**5,597,883**|
||||
|||**5,637,337**
**114,901**
**(93,526)**
**-**
**-**
**5,658,712**|
|||**Opening Balance**
**Income**
**Expenditure**
**Transfers**
**Gains**
**(Losses)**
**Closing**
**Balance**
**£**
**£**
**£**
**£**
**£**
**£**|
|||**3,161**
3,685
(3,866)
**-**
**-**
**2,980**|
|||**11,549**
3,866
(3,250)
**-**
**-**
**12,165**|
|||**14,710**
**7,551**
**(7,116)**
**-**
**-**
**15,145**|
|||**5,652,047**
**122,452**
**(100,642)**
**-**
**-**
**5,673,857**
**Opening Balance**
**As restated**
**Income**
**Expenditure**
**Transfers**
**Gains**
**(Losses)**
**Closing**
**Balance**
**£**
**£**
**£**
**£**
**£**
**£**
**12,765**
97,687
(66,991)
-
-
**43,461**
**83,694**
-
-
**83,694**
**96,459**
**97,687**
**(66,991)**
**-**
**-**
**127,155**
**5,515,874**
**(5,692)**
**-**
**-**
**5,510,182**
**5,599,568**
**-**
**(5,692)**
**-**
**-**
**5,593,876**
**5,612,333**
**97,687**
**(72.683)**
**-**
**-**
**5,637,337**|
|||**Opening Balance**
**Income**
**Expenditure**
**Transfers**
**Gains**
**(Losses)**
**Closing**
**Balance**
**£**
**£**
**£**
**£**
**£**
**£**|
|||**598**
3,617
(1,054)
**-**
**-**
**3,161**|
|||**13,162**
950
(2,563)
**-**
**-**
**11,549**|
|||**13,760**
**4,567**
**(3,617)**
**-**
**-**
**14,710**|
|||**5,626,093**
**102,254**
**(76,300)**
**-**
**-**
**5,652,047**|
||||
17
## **Notes to the Accounts continued**
## **Analysis of Restricted Funds**
|**alysis of Restricted Funds**||
|---|---|
|Kenyon Room Fund
Benevolence Fund
Flower Fund
IT & Audio-Visual Fund
Organ Fund
**Total**|**2024**
**2023**
**Liquid**
**Non -liquid**
**Total**
**Liquid**
**Non-liquid**
**Total**
**£**
**£**
**£**
**£**
**£**
**£**|
||1,398
7,165
**8,563**
1,654
4,949
**6,603**
1,364
-
**1,364**
1,289
-
**1,289**
218
**218**
218
-
**218**
-
1,400
**1,400**
-
2,100
**2,100**
-
3,600
**3,600**
-
4,500
**4,500**|
||**2,980**
**12,165**
**15,145**
**3,161**
**11,549**
**14,710**|
Trinity holds several restricted funds which comprise monetary and tangible assets The most significant are the monetary 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 equipment as well as a benevolence fund.
## **Analysis of net assets between funds**
|**2024**
Tangible fixed assets
Investment assets
Current assets
Creditors < 1 year
**Total**|**Unrestricted**
**Restricted**
**Total**
**2023**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**
5,514,189
12,165
5,526,354
Tangible fixed assets
8,347
-
8,347
Investment assets
169,210
2,980
172,190
Current assets
(33,034)
-
(33,034)
Creditors < 1 year
**5,658,712**
**15,145**
**5,673,857**
**Total**|**Unrestricted**
**Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**£**
**£**
**£**|
|---|---|---|
|||5,510,182
11,549
**5,521,731**
7,941
-
**7,941**
160,424
3,161
**163,585**
(41,210)
-
**(41,210)**|
|||**5,637,337**
**14,710**
**5,652,047**|
## **18 The St Ninian's Golders Green Fund**
In addition to the unrestricted funds recorded on the balance sheet, Trinity can draw on The St Ninian's Golders Green Fund a ‘designated fund’ held by URC North Thames Trust. This fund although held in the latter's Trustee accounts, is for the sole use of Trinity and was originally established from the proceeds of property sales following the merger of the two Methodist and Presbyterian Churches in 1979 to form the current Trinity (Methodist /United Reformed) Church. At the balance sheet date, the total value of the funds (including capital and interest) was £197,808 (2023: £188,534).
## **19. Renumeration of Trustees and Reimbursement of Trustee Expenses.**
a) None of the trustees received any remuneration or other benefits from an employment with the charity. b) None of the Trustees had their expenses reimbursed by the charity.
## **20. Fees for examination of the accounts**
|**. Fees for examination of the accounts**|||
|---|---|---|
||**2024**|**2023**|
||**£**|**£**|
|Fees for examination of the accounts|1,320|2,200|
## **21. Related party transactions**
There were no related party transactions during the reporting period.
18