Church Accruals Accounts 2023-2024 THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2024 Bingham Methodist Church Reglstered Charlty- Reglstrallon number 1158426 Circuit No 22115 Minlster Rev'd Tim Morris Church siewards Max Tear8 Geoff Cawlhorn Susan Oller Hazel Wallis Martin Watson Hilary Taylor Eric Roberts Church Treasurer Peter Broekhuizen Page I Bingham Methodist Church TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31AUGUST2024 Introductlon We are pleased to present the annual accounts for Blngham Methodlst Church on an accruals basis. Alms and organi5atlon We are part of the Grantham and Vale of Belvoir Clrcult whlch In tum Is part of the Nottingham and Derby Dlstrict of the Methodlst Church of Great Britsln. The buildlng was opened In 2016 and contlnues to attract newcomers to loln In our worshlp and actlvltles. Addltlonally, the Community use the buildlng for many varied actlvltles, Our policy and Misslon statement has been revlewed and meets with the Connexlon, Dlstrlct and Clrcult Mi55lon for the Methodlst Church of Great Britaln. We seek to make our worship stlmulating. challenglng and relevant to the needs of our ongreEatlon uslng a variety of styles and a mlxture of traditlonal and modern hymns and share In fellow5hlp through study, fundralslng attlvltie5 and soclal group5. Thls has included adaptlng our worshlp space to stream our services to meet the needs of those who cannot attend worshlp through Inflrmlty and Illness. Our engagement wlth the community Is thTough regular actlvlties Includlng Upper Room, Wholeness, Parent and Toddler Group, Brlgades, Thursday Market Day cafe . Messy Church, Memory Cafe and Communlty Clnema. This year we have restarted a Youth Group whlch attracts youth from all tultures Tepre5ented in our communlty. Our Worshlp servlc@s have been adapted to be Intluslve of our Hong Kong and other natlons famllles who have come to live wlthln Blngham and the local area, Revlew of the year Thls year we have been ble55ed wlth many new famllles who have come to Blngham and lolned our communlty. They have varled backgrounds In thelr Chrlstlan falth and we conllnue to learn how to welcome them to our communlty and especlally In adaptlng our worshlp In ways that we Integrate as God's dlsclples. We have contlnued to be an All we Can partner church as well as ralslng funds for Prostate Cancer, Dlsasters Emergencles and many more charitable appeal5. We contlnue to try new ways of maklng dlsclples for Chrlst and wlll contlnue wlth our journey. Income Regular Church Income Is prfmarlly drawn from the donatlons of the church members. Sunday collectlon5 and Gift ald tax credit, wlth lettlng5 Income from communlty Users hlrlng the Communlty rooms plu5 rents from commerclal tenants who occupy part of our bulldlng, There has been an Sncrease In our offertorles and in the lettlngs Income. We remaln solvent and continue with repayment of our loans at a higher rate than we determlned at the occupatlon of the new Church. The "Solaf Panels. have reduced the energy bills and our caTbon footprlnt. We wlll beneflt In thls Investment In the future. The multi-purpose bullding contlnues to be popular wlth the community and Is a major venue In our town. Income from the commercial unlts Is sufficient to service our debts and make the necessary Ca￿ts1 repayments. Ex endlture The major regular Church costls In relation to the assessment paid to the Grantham and Vale of Belvoir Clrcult. This comprlses the contribution by the Church to the costs met centrally by the Circult, Including stipends and manse cost5 for Clrcuit mlnisters. Addltlonally we pay towards the cost of a "famllles worker" who manage5 our children and families work whlch continues to be tM)pular, especially with the rkewer familie5 who have jolned our communlty thls year. All other costs relate to our activitles and overhead5 and 15 covered by our income. Page 2 Fund balances The General fund provides for our regular expendlture. There are designated funds for Charitable glvlng. durlng the year have supported Prostate Cancer research, Ralnbows Hospice, Two D15aster Emergency Committee requests. The Leprosy MSsslon, Methodist Homes for the Aged, Christian Ald All We Can (Methodist Church partnership) and our Friendship fund asslst for hardshlp cases in our Church and Communlty. The Lively Splrlts group has made donations to smaller Children based charltleL In eKcess of £10,000 has been rdi5ed for Charitable purpose5. There are no Restricted funds at presenL Endowment funds relate to hlstoric legactes Plans for 2024 25 We Intend lo continue wlth the work that we have Initiated In ￿￿nt years wlth Charltles, VOLrth work and Improvlng the quality of the streamed se￿1￿5. We contlnue to support communlty 3ctivlties where we are able. We contlnue to make the new community members welcome and feel that they are part of our Church FamSly, Thls wlll be extended to offer "member5hlp dlscusslons" to help those who choose to be accepted Into The Methodlst Church .We have prepared a Circult and Churth M15s1on and Vlslon statement that wlll be Introduced at the next Church Councll and that will provlde a strdtegy to help us In our path to brlng more dlsciple5 to Chrlst. Page 3 Bingham Methodist Church Trustee's Annual Report on Finance and Governance Basis of preparatlon and legal framework The Charity's annual report and accounts for the year ended 31 August 2024 have been prepared in accordance with the Charities Act 2011 and the Charities: Statement of Recommended Practice 2015 as applicable to the Financial Reporting StandardlFRSSE) 2015. Full Name of Charity / Church: Bingham Methodist Church Registration Charity Number: 1158426 The members of the Bingham Methodist Church meeting are the Charity Trustees, membership bein8 made up of church office holders, Minister and representatives appointed by the church at the Annual General Meeting. The treasurer, Mr P Broekhuizen, acted as the principal officer overseeing the day to day financial management and accounting for the Church during the year. Independent examiner Mr Peter Mellors FCA 29 Cumberland Avenue Beeston, Notts Investment Bankers Central Finance Board of the Methodist Church Trustee5 for Methodist Church purpose5 Page 4 Bingham Methodist Church Aims and organlsation The Charity objective is to be a Methodist Church providing spiritual care and guidance to all those who wish to come and worship at the Bingham Methodist Church. The Church provides a worship space for regular Christian worship, baptism, marriage and furneral services and a community facility for community groups, families and others in the town. The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of: al The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church; bl Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church; cl Any charita ble purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church; dl Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church The main activities of the church include.. Worshipping God through prayer, song and other acts of worship. The organisation and resourcing of regular public acts of worship open to members of the church and non members alike. The teaching of Chrlstianity through sermons, courses and small groups. The resourci ng of pastoral work including visiting the sick and bereaved, Promotion of Christian ity through the staging of events and services. Provision of chapla incy services to local schools, care homes and other institutions as appropriate and when able. Public Beneflt We confirm the trustees have had re8ard to the Charity Commi55ion's guidance on public benefit. Structure, Governance and Management The Boverning document for the church is the Deed of Union11932) and Methodist Church Act119761 Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPDI. Day to day management of the church is undertaken by the Church Leadership team along with the Minister. The Trustees are appointed at the AGM of the church. Page 5 Trustees, Responsibilitles For each flnancial year ending on 31 August the Trustees are required to prepare financial statements that give a true and fair view of the Church's financial activities during the year and of it5 financial position at the end of the year and to prepare an annual report for that year. In preparing these financial statements, the Trustees have: selected suitable accounting policies and applied them consistently using the accruals method made judgements and estimates that are reasonable and prudent - followed the applicable SORP and accounting standard, SORP(FRS1021 as updated- adopted the going concern basis The Trustees are responsible for keeping proper accounting record5 which disclose with reasonable accuracy at any time the financial position of the Church and enables them to ensure that the financial staternents comply with the law. They are also responsible for safeguarding the assets of the Church and ensuring their proper application under charity law, and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularities. The Trustees are responsible for the maintenance and Integrity of the corporate and financlal inforrnation included on the Church's web site. Legislation in the United Kingdom governing the preparation and dissemination of flnancial statements and trustees, report5 may differ from legislation in other jurisdictions. Trustee Tralnlng A range of guidance produced by Methodist Connexion to support the effective running of the church and the role of Trustees is given to the Church Trustees at various meetings and / or training sessions Related Partles The Church is part of the Grantham and Vale of Belvoir Circuit which is part of the Nottingham and Derby Distrlct and 15 also accountable to the Methodist Conference. Page 6 Blngham Methodist Church Charlty No 1158426 Statement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to Deslgnaled the General Fund Funds accounts {Unrestrlcied) {unrestrlcted) Restrlcted Endowment Funds Funds Total 2023.24 Income l Ollèrlngs 2 Donalions 3 Glll aid 4 Interest and Investment Income 5 Income from Inveslmanl propert185 6 Internal organlsalions 7 Olh8r charltable Income 8 Total Income 39,351 2,195 8,955 1,890 92,248 907 31,463 177,009 39,351 2,195 8,955 1,996 103,455 907 37,453 194,312 106 11,207 5.990 5,990 11.207 106 Expenditure 9 Glrcull assessment or share 10 Grants and donatlons 11 Proporty malnlenance 12 Insurance,ulllllles elc 13 Depreclallon 14 (YIIc8 8xpens8S 15 Other expenditure 16 Internal organlsallons 17 Total charltable expendltura 18 Galnslllossesl on monelary Inv8slmenls 19 Galnslllosses} on Inveslmenl propertles 20 N61 In¢omel(expendlture> 21 Translers belween funds 22 Other galnslllossesl 23 Net movemont In funds 24 Total funds brought forward 25 Total f unds ¢arrled forward 44.028 44,028 14,287 2,291 2,2 1,249 26,758 14,287 13,498 2,290 1,249 32,530 864 108,746 213 5,772 91,767 5.772 11,207 213 85.242 218 319 84 85,779 85,626 1,693,645 1.779,271 82 4,683 4,601 235 85,779 3,349 1,701,677 3,584 1,787,456 Page 7 Bingham Methodist Church Charity No 1158426 Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Notes to Deslgnated the General Fund Funds accounts (Unrestrlcted) (unrestrlcted) Restrlcted Endowment Funds Funds Total 2022-23 Income 1 Ofterings 2 Donalions 3 Glll ald 4 Inl8resl and Investment Income 5 Income from Investment propertles 6 Internal organlsallons 7 Olh8r charltable Income 8 Total Income 37,079 3,026 8,866 574 93,807 658 27,485 171,495 37,079 3,026 8,866 668 93,807 658 32,169 176,273 94 4,684 4,684 Expendlture 9 CSrcull assessm8nl or share 10 Grants and donallons 11 Property malnlenance 12 Insuran¢e,ullllll6s elc 13 Depreclalion 14 Olllce expenses 15 Other 8xpendllure 16 Internal oioanlsallons 17 Total charltable expendlture 18 Galnslllossesl on monelary Inveslmenls 19 Galnslllosses} on Inveslmenl propertles 20 Not Incornel(expendllure) 21 Transfers b8lwe8n funds 22 other galnslllossesl 23 Net movemenl In funds 24 Total funds brought forward 25 Total funds carrled forward 45,120 45,120 3,166 11,870 4,445 2,290 3,166 11.870 2,290 20,302 648 84.675 20,582 648 B8,121 -122 3,446 122 86,820 682- 1,238 .28 82 88,030 87,502 1.606,143 1,693,645 638 4,045 4,683 -110 3,459 3,349 88,030 1,613,647 1,701,677 Page 8 Bingham Methodlst Church Charlty No 1158426 Balance Sheet as at 31 August 2024 General Fund {ilnre8ltlcled) De81gnoled Funds IUnreslrf¢ledl RgBlrlcted Funds Endowment Fltnds Totals 2024 Totals 2023 Noles io the Accounts Flxed A58el$ Ghureh building alld other Inv88trnenl pr Investments 1,375,447 S￿),000 1,375.447 500,QQO 1,377,737 500.000 Total fflxed8ssèÉs 1.878,447 1,875,447 1,677.737 Current Asselg Dablurs and ropaymènts Loans by tho Churches Inveslm8nls wblh TMCP Cènlral FIn￿¢è Board Deposits Cash at Bank and in hand Totol eurrenl assots 15,316 15,318 13,858 3.584 3,584 34,596 211,954 82,450 8,849 30,923 44,182 98,313 34.596 24,353 74,265 4.601 4,601 3,584 Currenl Ilabllllles Crèdllois Iduè In undor 1 yaarl Qrants payable wilhln 2022.WJ Totgl curr6nl 118blllfl•s N8t curffjnl •ssets/llobllllles 51,941 51.941 50.473 51.941 22,324 51,941 30.509 60,473 47,84Q 4,601 3,5B4 Toi•J ossels leg5 Gurrenl IIAbllllle$ 1,897,771 4.601 3,584 1,905,956 1.925,S77 Long term Ilabllltles (due after more than one year GTanls pa aUe qller 2022-23 Loons lo Ihe Church 118.500 118,600 228,900 Nei ass•ts 1.779,271 4.601 3,584 1,787.456 1,701,677 Fund8 ol th• Church Geiicral Fund Iunieslrlctedl Desl nated Futxls IUnreslrlcle>dl Tol81 ilnr•slrl¢led Fundg Heslrlcled Funds Eadowmenl Funds I,n9.271 1,779,271 4,601 1.783,872 1,693.645 4,683 1.698,328 4.601 3,584 3,584 3,564 1,787,456 3,349 1,701,677 Tot81 Funds 1.779.271 4.601 Signod Church Treasurer Page 9 Bingham Methodist Church Notes to the Accounts l. Basls of accountlng The financkl statem•ntshavEbe￿ prepared the Chariti¢sAci xiii 1rbatc¢¥da￿cewaIhtht2Dl4 ¥etsksn Df AcccwUMÈand Aeportlng by Chèrfties." Statement of Rtcommended Pracllce ISORPI applKablB tocharlties prÈparlnglhtif •¢tounts inarC¢¥dan￿￿th the Finamlal Rtportwya Standard foi 5rn4llÈr Entltle5 ap￿￿￿b* in the UK leNectlve Irom 13anvary20151-tke Ch4rfiiÈS SORP I¥RSSEI-In repla¢emeDt lorthe SORP'S 2(YJ5 V￿$10n spe(Ified In its ielated 2￿R Reg￿l￿￿ons and in accordance wlththe liueand lair tyÈrridé Èontaln￿I I￿[tIn." Z. Fund$ Ihe funds held cawtltutv. General Fund% hdd lor aTry pwpose of Ihe Churth 4rÈunrestdrted. from IEgacies rwdvtd. nole 13. Anyfunds maybÈrepiesent¢d bymorelhJnW £a5h. 3. Accountlng poll£le$ Endowynent fund5 4rlsln8 Deta115Df e4ih materfal fund aiod15cloStd In These accounts ha￿ b￿eTh prepaTed ortih* baslsof hisiDiit4l