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|Introduction|||
|---|---|---|
||The attached
accounts
present
the
financial
activity
of Bingham
Methodist
Church
in
an||
||accruais format.||
|Aims and organlsatlon|||
||We are part ofthe Grantham
and Vale of Belvoir Circuit which
in turn
Is part ofthe Nottingham||
||and
Derby
District of the
Methodist
Church
of Great Britain. With the, 2016 new
build
we||
||continue
to provide the mission
and outreach
in accordance
with the Connexlonal,
Circuit and||
||Church's
vision as presented
In the Mission
Policy documents
at all three levels.||
||We seek to make
our worship
stimulating,
challenging
and
relevant
to the
needs
of our||
||congregation
using a variety ofstyles and a mixture oftraditional
and modern
hymns
and share||
||in fellowship
through
study, fundraising
activities
and social groups. This has included
adapting||
||our worship to stream
our services to meet the needs of those who cannot attend
worship||
||through
infirmity
and Rlness. Our engagement
with the community
Is through
regular activities||
||Including
Upper Room, Wholeness,
Parent and Toddler Group, Brigades,
Thursday
Market
Day||
||cafe, Messy Church,
Memory Cafe and Community
Cinema.
In addition
our services have been||
||adapted to meet the needs of our Hong
Kong families
who have come to live within
Bingham||
||and the local area.||
|Review ofthe year|||
||This year we have been blessed with many new families who have come to Blngham
and joined||
||our community.
They have varied backgrounds
ln their Christian
faith and we continue to learn||
||how to welcome them to our community
and especially
in adapting
our worship
in ways that||
||we integrate
as God's disciples. We have continued
to be an All we Can partner
church as well||
||as raising funds for Prostate Cancer, Disasters Emergencies
and many more Charitable
appeals.||
||We continue to try new ways of making
disdples for Christ and will continue
with our Journey.||
||Income||
||Regular
Church income
is primarily
drawn
from the donations
ofthe church
members,
Sunday||
||collections
and
Gift
aid tax credit,
with
lettings
income
from
community
users
hiring
the||
||community
rooms. There has been an increase
In our offertories
and in the lettings
Income. We||
||remain
solvent and continue
with repayment
of our loans at a higher
rate than we determined||
||at the occupation
ofthe new Church. We have invested
in "Solar Panels" to reduce our carbon||
||footprint
and assist in reducing
our future energy
bills. The multi-purpose
building
continues to||
||be popular
with the community
and Is a major venue
in our town.||
||Income from the commercial
units
is sufficient
to service our debts
and
make the necessary||
||capital repayments.||
||~Ex endlture||
||The major regular
Church cost is In relation to the assessment
paid to the Grantham
and Vale|of|
||Belvoir Circuit. This comprises
the contribution
by the Church to the costs met centrally
by the||
||Circuit,
Including
stipends
and manse
costs for Circuit ministers.
Additionally
we pay towards||
||the cost of a "families worker" who manages
our children
and families work which continues|to|
||be popular,
especially with the newer families who have Joined our community
this year.||
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|Statement
of Financia|l|Ac|tivities (|SOFA|) for t||he year en|ded 31|A|ugust 202|3|
|---|---|---|---|---|---|---|---|---|---|---|---|
||||Notes to||||Designated|||||
||||the|General|Fund||Funds|Restricted||Endowment|Total|
||||accounts|(Unrestricted)||(unrestricted)||Funds||Funds|2022-23|
|||||2|||2|2||2||
|Income||||||||||||
|1
Offerings
2
Donations|||||37,079
3,026||||||37,079
3,026|
|3
Gilt aid|||||8,866||||||8,866|
|4
Interest and investment
income|||||574|||||94|668|
|5
Income from investment
properties
6
Internal
organlsations
7
Other charitable
income|||||93,807
658
27,485||4,684||||93,807
658
32,169|
|8Total income||||171,495|||4,684|||94|176,273|
|Expenditure
9
Circuit assessment
or share|||||45,120||||||45,120|
|10Grants and donations|||||||3,166||||3,166|
|11 Property
maintenance
12Insurance, utilities etc
13Depreciation
14Office expenses
15Other expenditure
16Internal
organisations
17Total charitable
expenditure
18Gains/(losses)
on monetary
19Gains/(losses)
on investment
20 Net Income/(expenditure)|Investments
properties||||11,870
4,445
2,290
20,302
84,675
86,820||281
3,447
1,237||0
0|0
122
-28|11,870
4,445
2,290
0
20,583
648
88,122
-122
0
88,029|
|21 Transfers
between
funds|||||682||600|||82|0|
|22 Other gains/(losses)
23 Net movement
In funds|||||87,502||637||0|-110|0
88029|
|24 Total funds brought
forward
25Total funds carried forward||||1,606,143
1,693,645|||4,045
4,682|||3,459
3,349|1,613,647
1,701,676|
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|Statement
of Financia|l
Actin/itles
|(SOFA|) for|t|he year en|ded 31|A|ugust|2|022||
|---|---|---|---|---|---|---|---|---|---|---|---|
||Notes to||||Designated|||||||
||the|General|Fund||Funds|Restricted||Endowment||Total|2021.|
||accounts|(Unrestricted)||(unrestricted)||Funds||Funds|||22|
||||||2|2||||||
|Income||||||||||||
|1
Offerings
2
Donations|||34,070
693||||||||34,070
693|
|3
Gifl aid|||7,544||||||||7,544|
|4
Interest and investment
income|||123||||||67||190|
|5
Income from investment
properties|||89,716||||||||89,716|
|6
Internal
organisations
7
Other charitable
income|||1,191
23,636||2,678||||||1,191
26,314|
|8Total income||156,973|||2,678||||67||159,718|
|Expenditure
9
Circuit assessment
or share|||46,476||||||||46,476|
|10Grants and donations|||||1,941||||||1,941|
|11 Property
maintenance
12 Insurance, utilities etc
13Depreciation
14Office expenses
15Other expenditure
16 Internal
organisations
17Total charitable
expenditure
18Gains/(losses)
on monetary
19Gains/(losses)
on investment
20 Net income/(expenditure)|investments
properties||17,250
6,153
14,282
1,094
85,255
71,718||1,941
737||0
0||0
193
-126||17,250
6,153
0
0
14,282
1,094
87,196
-193
0
72,329|
|21 Transfers
between
funds|||566||500||||66||0|
|22 Other gains/(losses)
23 Net movement
in funds|||72,284||237||0||-192||0
72,329|
|24Total funds brought forward
25Total funds carried forward||1,533,859
1,606,143|||3,808
4,045|||3651
3,459|||1 541 318
1,613,647|
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|||||General Fund|Designated|Restricted||Endowment|Totals 2023|Totals 2023|Totals 2022|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||(unrestricted)|Funds|Funds||Funds||||
||||Notes to the|(Unrestricted)||||||||
||||Accounts||2|||||||
|Fixed Assets||||||||||||
|Church
building
and other
ro
Investment
r
ertles|arty|||1,377,737
500,000||||||1,377,737
500,000|1,334,196
500,000|
|Investments||||||||||||
|Total lixed assets||||1,877,737|||||0|1,877,737|1,834,196|
|Current Assets||||||||||||
|Debtors and
r
ayments||||13,858||||||13,858|25,215|
|Loans b
the Churches||||||||||||
|Investments
with TMCP||||||||3,349||3,349|3,459|
|Central Rnance Board Deposits||||36,923|||||||9,837|
|Cash at Bank and
In hand||||39,500|4,683||||||73,172|
|Total cunent assets||||90,281|4,683|||3,349||98,313|111,683|
|Current
gebgltles
Creditors
(due in under
I year)|||10|50,473||||||50,473|55,932|
|Grants
ayabls within 2022-23
Total current
llsblllf les||||60,473||||||60,473|66,932|
|Net currerrt sssefslllsbllltlss||||39/08|4,683|||3,349||47,840|65,751|
|Total assets less currenl|liabilities|||1,sty,S45|4,683||0|3,349||1,925,677|Idi89,947|
|Long term liabilities||||||||||||
|(due after more than one|ear)|||||||||||
|Grants payable
after 2022-23
Loans lo the Church|||12|223,900||||||223,900|276,300|
|Nef assets||||1,693,645|4,683|||3,349||1,701,677|1,613,647|
|Funds of the Church||||||||||||
|General
Fund (Unrestdcted)
Designated
Funds (Unrestdoted)
Total unrestricted||Funds|13
13|1,693,645|4,683|||||1,693,645
4,663
1,698,328|1,606,143
4,045
1,610,188|
|Restrbted
Funds|||||||0|||0||
|EndowmenlFunds|||13|||||3,349||3,349|3,459|
|Total Funds||||1,693,645|4,683||0|3,349||1,701,677|1,613,647|
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||||Church
(non|Investment||
|---|---|---|---|---|---|
||||investment)|properties||
||||land and|(land and||
||||buildings|buildings)|Total|
||||6|f|6|
|Cost or valuation||||||
|Balance|brought|forward|1,334,196|500,000|1,834,196|
|Additions|||45,831||45,831|
|Balance|carried|forward|1,380,027|500,000|1,880,027|
|(Accumulated
depreciation||||||
|Balance|brought|forward||||
|Depreciation
charge for year|||2,290||2,290|
|Balance|carried|forward|2,290||2,290|
|Net book value||||||
|Brought|forward||1,334,196|500,000|1,834,196|
|Carried|forward||1,377,737|500,000|1,877,737|
|8.|Investments
with TMCP|||This year|Last year|
|---|---|---|---|---|---|
|||||E|f|
||CFB Managed
Mixed Fund units|||2,755|2,878|
||Trustees Investment
Fund|||589|581|
|||||3,344|3,459|
|9.|Analysis ofdebtors and prepayments|||This year|Last year|
|||||6|6|
||Prepayments|||12,207|12,455|
||Other|||1,651|12,760|
||Total debtors and prepayments|||13,858|25,215|
|10. Analysis ofcreditors and accruals||||||
||Commercial
letting income|received|in ac|4,868|4,868|
||Accrual for interest payable|on loans|(General)|1,818|1,435|
||Expense Accruals|||2,449|2,757|
||Tenants Service Charges|||1,468|1,505|
||Tenants
Deposit|||3,000|3,000|
||Current portion of loans
(note 12)|||31,200|36,200|
||VAT Payable|||5,670|6,167|
||Total Current
Liabilities|||50,473|55,932|
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|12.|Loans and|creditors due after one year|creditors due after one year|||||
|---|---|---|---|---|---|---|---|
||Loans|||||||
||Source|||Amount||||
|||||brought|Repayable|In|Balance at|
|||||forward|the year||yearend|
|||||6|6||6|
||Methodist|Chapel|Aid Limited|265,000|42,400||222,600|
||Grantham|&Vale|of Belvolr Circuit|42,500|10,000||32,500|
||Private Loans|||||||
|||||312,5|57,40||255,100|
||Repayment|due||||||
||Due within|12 months (note 10)||36,200||||
||Due after|more than 12 months||276,300|||223,900|
||Total|||312,500|||255,100|
|Detaged analysis of In|Detaged analysis of In|dividual
fund|movements||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted
Funds|||||||||
|Fund Name|||Opening|lrrcome|Expenditure|Transfers|Revaluation|Closing|
||||Balance||||gains/losses|Balance|
|General fund|||1,588,180|149,097|(65,423)|682||1,672,536|
|Property
Fund|||16,491|21,7|(18,604)|||19,627|
|Internal
organlsatlons||Brigades|1,472|658|(648)|||1,482|
|General
Funds|||1,606,143|171,495|(84,675)|682||1693645|
|Friendship
fund|||1331|922|(167)|||2,086|
|Rainbow fund|||552|||||918|
|Lively Spirits fund|||1,632|1,296|(681)|(600)||1,647|
|Charity Fund|||530|2,100|(2,598)|||32|
|Designated
Funds|||4,045||(3,446)|(600)||4,683|
|||Totals|1,610,188|176,179|(88,121)|82||1,698,328|
|Endowment
Funds|||||||||
|Fund Name|||Opening|Income|Expenditure|Transfers|Revaluation|Closing|
||||Balance||||gains/losses|Balance|
|Memory
Mrs 5 E|Langstaff||120|||(4)||120|
|H N Fewster Bequest|||2,546|68||(68)|(108)|2,438|
|G H White Bequest|||368|10||(10)|(14)|354|
|F A Sheppenson|Bequest||417|12||||429|
|Bingham|||||||||
|||Tote Is|3,459|||(82)|(122)|3,349|
|This year||||||||||(return|(return||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Name of related|party||Relationship|Description|of||Income from|Payments|to|Loans|to / (from) /|Amounts|owed||
|||||transaction|||related party|related
party|||of loans|by/(tol|||
||||||||during the|during the|year|from) related||related|party||
||||||||year|||party during the||as on 31-Aug-|||
|JMA|||||||||||||||
|Methodist
Church|Fund||||||||||||||
|Mission
ln Britain Fund|||||||||||||||
|Fund for Support of|||||||||||||||
|Presb
ers &Deacons|||||||||||||||
|Fund for Property|||||||||||||||
|World Mission
Fund|||||||||||||||
|Grantham
Ik Vale of|||Circuit to|Circuit Assessment,|||||45,120||10,000|(|32,500)||
|Belvolr Circuit|||which the|contribution
to|||||||||||
||||Church|Community
worker|||||||||||
||||belongs|and loan to assist|||||||||||
|||||with the financing|||||||||||
|||||ofthe building|||||||||||
|Various private|||Various|Loans to assist||with|||||||||
|Individuals
-no loan|||individuals|the financing|of the||||||||||
|exceeds E5,000 in|total||assodated|building|||||||||||
||||with the||||||||||||
|Tote I||||||||45,120|||15,000|(|32,500)||
|Lest year|||||||||||||||
|Name of related||party|Relationship|Description||of|Income from|Payments to||Loans to/ (from) /||Amounts||owed|
|||||tra nsa ctlon|||related party|related|party|(return ofloens||by/(to)|||
||||||||during the|during the year||from) related||related party|||
||||||||year|||party during the||as on 31-Aug-|||
|JMA|||||||||||||||
|Methodist
Church||Fund|||||||||||||
|Mission
ln Britain|Fund||||||||||||||
|Fun
orSupporto|||||||||||||||
|Presbyterslk
Deacons|||||||||||||||
|Fund for Property|||||||||||||||
|World Mission
Fund|||||||||||||||
|Grantham
&Vale|of||Grcult to|Circuit Assessment,|||||46,476||10,000||( 42,5')||
|Belvolr Circuit|||which the|contribution|to||||||||||
||||Church|Community|worker||||||||||
||||belongs|and loan to assist|||||||||||
|||||with the financing|||||||||||
|||||ofthe bugdlng|||||||||||
|Various private|||Various|Loans to assist||with|||||||(|5,000)|
|individuals
- no loan|||Individuals|the financing|ofthe||||||||||
|exceeds E5,000 In||total|associated|bugdlng|||||||||||
||||with the||||||||||||
|Total|||||||||46,476||10,00D||( 47,500)||
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