# **Harrow and Hillingdon Circuit 35/36 Pinner Methodist Church Love Lane** ## **Registered Charity Number 1162556** ## **Financial Statement** For Year Ended 31[st ] August 2022 Standard Form of Accounts Receipts and Payments ## **Minister: Revd. Lynita Conradie** Office Tel: 0208 868 0353 Email: susan.d.male@googlemail.com **Bankers** : HSBC, 2 Love Lane, Pinner, HA5 **Treasurer** : Bernice Aryee-Addo Home Tel: 01923 284292 Email: addo.b16@gmail.com ## **Independent Examiner** : John Chamberlain Home Tel: 0208 573 3607 Email: jechamb01@aol.com ## **Church Office Administrator** : Mrs Joannah Holt Office Tel: 0208 868 0353 Email: pinnermethodistchurch@btconnect.com WEBSITE: www.pinnermethodist.org.uk ## **REGISTERED CHARITY NUMBER: 1162556** 1 ## **Pinner Methodist Church** ## **Treasurer Report for Year to 31 August 2022** ## **Governance:** The governing body of the Methodist Church is the conference which meets once every year. The authority under which the conference acts is given by Methodist Church Act 1976. The Methodist Church does not currently need to register as a charity by the combined effects of Sec. 46 (a) of the Charities Act 1993 and paragraph 4 (2) of the Charities (Exception from Registration) regulation 1996 as amended by Statutory Instrument 2002 No. 1598. The 2006 Charities Act now requires that churches will have to register with the Charity Commissions. Pinner Methodist Church operates within The Harrow & Hillingdon Circuit, The London District of The Methodist Church and The Managing Trustees of The Church are the duly elected members of the Church Council. The Chair - Rev Lynita Conradie, Secretary - Joannah Holt, Treasurer- Bernice AryeeAddo plus Stewards and other members as appointed by Church Council. ## **Statement of Trustees Responsibilities:** Law applicable to Charities in England and Wales requires The Trustees to prepare financial statements for each financial year which gives a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. The Trustees must follow the best practice and: - ➢ Select suitable accounting policies and then apply them consistently: - ➢ Make judgements and estimates that are reasonable and prudent: - ➢ State whether applicable accounting standards and The Statement of Recommended Practice 2005 Accounting and Reporting by Charities have been following: - ➢ Prepare financial statements on the going concern basis unless it is inappropriate to presume that activities will continue: The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of Pinner Methodist Church and which will enable them to ensure that the financial statements comply with the Standing Orders of the Methodist Church and the Charities Act 2006. They are also responsible for taking reasonable steps to safeguard the assets of the charity also to prevent and detect fraud and other irregularities. ## **Investment policy:** The investment of surplus funds is operated via The Central Finance Board (CFB) of the Methodist Church. CFB aims to provide high quality investment service seeking above average returns for long term investors, whilst ensuring that the securities held by its funds are in line with the ethical policy of The Methodist Church. ## **Accounting Policies:** The financial accounts are prepared under the historical cost convention. These accounts are produced in the Standard Form for Accounts (Receipts & Payments) as required by The Charity Commissioners when the church’s gross income for the Financial Year from all sources, including income from Church Internal Organisations is under £250,000. Fund cash resources surplus to meet day to day needs are deposited with the “Methodist Central Finance Board”. We are required by the Charity Commissioners to have established a “Reserve” Policy for our Church, showing our various funds such as our General Fund Income, our Restricted Fund income and our Reserve Fund income. Our objective is not to hold more than £15,000 in our bank account at any one time. We will continue to fund our Reserves to cater for our contribution to circuit share and to build up our Restricted Funds for Bequest Funds and specific projects as agreed by the Church Council each year in our yearly budget. 2 ## **RESERVE POLICY OF PINNER METHODIST CHURCH** ## FINANCIAL YEAR 2021/22 1. Unrestricted Funds – General funds held as at 31/08/2022 £45,748.67 2. Unrestricted Funds – Designated Funds held as at 31/08/2022 £18,421.30 3. Restricted Funds - Held as at 31/08/2022 £34,452.48 4. Endowment Funds – Held as at 31/08/2022 NIL ## Reserve Policy for General Fund To build up a General Fund balance equivalent to 6 months routine General fund expenditure, to endeavor to achieve this objective at the end of the year. ## Reserve Policy for Designated Funds To build up and maintain all Designated funds noted below: -Property Repair Fund - -Flower Fund - -Technology & Organ Fund ## Reserve Policy for Restricted Funds A proportion of these funds are bequeathed to Pinner Methodist church via legacies (that specifies sums contained in a last will and Testament for the benefit of Pinner Methodist Church) and is a legal requirement under the Methodist church act 1976. Other funds can be deposited with the TMCP if desired. Funds deposited can only be accessed for special projects or for purposes specified in a will such as a Bequest Fund and Benevolent Fund 3 ## **PINNER METHODIST CHURCH** ## **FINANCIAL PAPERS RE YEAR ENDED 31[ST] AUGUST 2022** ## **BALANCE OF ACCOUNTS** ||**Bal. B/Fwd**|**Income**|**Expenditure**|**Bal. C/Fwd**| |---|---|---|---|---| |**HSBC**|**47,576.02**|**99,184.27**|**137,909.63**|**8,850.66**| |**CFB**|**37,728.44**|**41,761.57**|**42,442.00**|**37,048.01**| |**TMCP(22216)**|**18,387.44**|**86.30**|**52.40**|**18,421.30**| |**TMCP(21197)**|**32,390.53**|**2154.26**|**92.31**|**34,452.48**| |**TMCP(10130)**|**76.15**|**0.08**||**76.23**| |||||| |**Combined Total**|**136,158.54**|**143,186.48**|**180,490.34**|**98,848.68**| ## FUND BALANCES |||Bal B/Fwd|Bal C/Fwd|Difference| |---|---|---|---|---| |Unrestricted|General Fund|85,154.46|45,748.67|-39,405.67| |||||| |Unrestricted
Designated|Prop. Reserve (CFB)|18,387.40|18,421.30|-5000.00| ||Prop. Reserve TMCP(22216)|18,362.31|18,384.90|+33.90| |||||| ||Combined Unrestricted Total|103,541.86|64,169.97|-39,371.89| |||||| |Restricted|Bequest No1 TMCP(21197)|32,390.53|34,452.48|+2,061.95| ||Bequest No2 TMCP(10130)|76.15|76.23|+0.08| ||Benevolence CFB|150.00|150.00|| |||||| ||Combined Restricted Total|32,616.68|34,678.71|+2,062.03| |||||| ||All Fund Combined Total|136,158.54|98,848.68|-37,309.86| |||||| 4 ## **PINNER METHODIST CHURCH FINANCIAL PAPERS RE YEAR ENDED 31[ST] AUGUST 2022** ## **STATEMENT OF FINANCIAL ACTIVITIES (SOFA REPORT) AS PER CHARITY COMMISSION RETURN** ||**Unrestricted**|**Restricted**|**Combined Total**|**2019/2020**| |---|---|---|---|---| |**INCOME**||||| |Offerings / Gift Aid|34,842.78||34,842.78|30,301.87| |Bank Interest|156.62||156.62|138.69| |Lettings|53,949.75||53,949.75|45,402.25| |Other Income|17,030.59|2,154.34|19,184.93|10,195.84| |||||| |**Combined Income Total**|**105,979.74**|**2,154.34**|**108,134.08**|**86,038.**| |||||| |EXPENDITURE||||| |Circuit|42,442.00||42,442.00|41,440.00| |Donations|1,956.75||1,956.75|| |Repair & Maintenance|39,571.50||39,571.50|| |Utilities & Insurance|9,459.68||9,459.68|11,673.05| |Other Expenditure|3,475.86|64.92|3,540.78|4,098.41| |||||| |**Combined Expenditure Total**|**96,905.79**|**64.92**|**96,970.71**|**96,895.78**| |||||| |Transfers||||| |||||| |Surplus / Deficit|(10,867.14)|39.80|(10,827.34)|(5,166.18)| |||||| |Total B/Fwd|114,406.50|32,572.48|146,978.98|152,145.16| |||||| |Total C/Fwd|103,539.36|32,612.28|136,151.64|146,978.98| |||||| |||||| 5 ## **Pinner Methodist Church** ## **Notes to the financial statements for the year ended 31 August 2022** ## **The Financial Review** ## **INTRODUCTION:** This report is produced in line with the latest Charity Commissioners recommendations. Pinner Methodist Church has been a Registered Charity from 7[th ] July 2015. This places certain additional responsibilities on the Charity’s trustees (the officers of the church and other church council members) besides having to report on property and finance matters to the circuit we also have to submit an annual report to the Charity Commission (by end May of each year) which, whilst including our annual accounts must also explain our “charitable activities” during the 12 month period in question. The report is then posted on the Charity Commission’s website for the world to see ## **FINANCIAL YEAR 2021/22** This Financial year being what it was, we successfully achieved some of our goals for the year and have much to be thankful for. Some repairs planned for the year were suspended due to the pandemic outbreak and the uncertainty of not knowing how long we would be locked down for, and adapting to a new way of living. There was much to consider such as adhering to government guidelines making sure the church was safe to open and putting certain measures in place. This report primarily focuses on the Church’s financial affairs for the last fiscal year (see heading) and includes all income and expenses throughout the period. It will provide a financial trail to where we are relative to the budget confirmed by Church Council. It was agreed that much of our reserves would be used until the running of the church was back to near normal. Some of the members have increased their contributions their generosity ## **GENERAL:** **Our Cash Assets** at 31 August 2022 total £146,978.98 made up of £36,927.53 in our current account, £59,266.66 on our interest-bearing deposit account with The Central Finance Board (CFB) of The Methodist Church. With the Trustees for Methodist Church Purposes (TMCP) we hold three accounts. A Bequest account with which we are obliged to place any bequest income has a total of £32,346.33, which is available to our church for approved specified projects or other expenditures. We have a general repair fund with the TMCP (General Repair Fund Account) which holds a balance of £18,362.31 at our disposal for planned repairs. We also have a small ongoing account with a balance of £76.15. in total the balance on all three accounts equates to £50,784.79. ## **Fixed assets/Value of Property £3,263,466.00.** **Income** as at 31[st ] August 2022 are £88,323.43 the total mainly from Collection/Gifting and Lettings. **Expenses** are at £99,714.67 this includes Property maintenance, Property admin Utilities and other expenses. ## **Our administrator salary** Last year’s admin salary was £25,651.33 for a 32-hour week which includes Employer Pension contributions. The Admin salary hours are split between 6 hours at Eastcote Methodist Church and the remaining 26 hours between Pinner Playtime and Pinner Methodist Church lettings duties. Annual increase from September 6 2021/22. Our Finance team and church council both agreed that we would award the higher end 3% increase to her salary for her exemplary work and the extra time and efforts she puts into her job. ## **Our utility payments** British Gas services and Scottish and Southern Electric Plc our utility companies remained the same in 2019 when we entered a 4yrs contract with Utility Aid Company, savings us thousands of pounds. Increase of unit rates has gradually increased our utility costs ## **Water** As of April 2022, we no longer use Affinity Water for Business. They now trade under Castle Water there is no longer an option to choose. Our meter is not measured so we pay a set amount for the year through direct debit. ## **Telephone** Reviewing our account each year saves us money. We paid £1338.78 previously after the review a reduced amount of £1,212.87 was paid saving us £125.91 through the year. ## **Gardner’s figures** Pinner Playtime made provision for the Gardener responsibility for this year. I have not included in the new budget for this this year also. ## **Our Lets** Proceeds of our lets such as Oak Lee who are contracted with us for two years. The fact that we went over our budget this year, we still earned enough income to accommodate most of our unexpected expenses for the year. With inflation increased costs a review of our letting rate might be inevitable. ## **The Tax refunds** Figures for this financial year arrived late therefore we received a sum of £477.66 + 6,298.96 = £6,776.62. The amount of £6,298.96 will be included with this year’s figures £6,298.96 + 535.42 + 5,021.41=£12,430.37. This will be factored into our figures for this year. ## **V.A.T refund** We are exempt from paying V.A.T for their services and repairs. This is because as a charity we are not to pay V.A.T on Disability facilities, products and services. ## **Our circuit shares** This year (Fund for Ministry or Assessment) our circuit share was increased 2021 from £10276.50 each quarter then was increased yet again August 2022 to £10,610.50. We have not been advised of any further increases for now but we must make provision for when it is required. ## **In addition, self –funding internal church organisations** Harvest of Waste, Men’s Supper Club, Fellowship Lunch, Fun ’N Funds, Pinner Playtime and Love Lane Youth Club are all self-finding internal organisations acting in the best interest of social outreach and support for the church and community. Their account stands at £16,909.00 collectively as at 31/08/2022. ## **Buildings and Content Premium. £2,881.99** Our insurance reviewed in November of each year, we aim to keep the excess the same at £50.00. ## **Cleaning** Our cleaning bill has been reviewed and the church is happy with the service. 7 Pinner Methodist Church Financial Papers re Year ended 315t August 2022 Final figures below based solely on the Bank ( HSBC,CFB,TMCP) statements. This means any large amounts relating to the Financial Year 202￿22 which does not appear on a Bank Statement by 31" August is excluded. This is why this year in part we end with a massive deficit on the General Fund of £ 39,405.79 . i.e. Refund from SSE due in Financial Year 202￿22 for £291567.04 re Gas not received by 31 August 2022. The Charity Commissioners proforma, shows the funds split into only two categories a). Unrestricted ( General & Designated). b). Restricted. But below I showthe Funds split into 3 categories:.a). Unrestricted Fund - The General Fund b). Unrestricted Designated Funds , which is your Property TMCP Reserve Fund. c). Restricted Funds, which is your Benevolence Fund and any Bequests No. i & 2 ( TMCP Accounts). Also please note I don't have the breakdown of figures for the accounts. so can only talk in general terms not specific term5 i.e. Don't know breakdown of HSBC figures. i.e. Collections, Lettings total etc. BALANCE OFACCOUNTS Bal. BIFwd 47,576.02 71728.44 18,387.40 321390.53 76.15 Income ,184.27 41,761. 86.30 Ex enditure 1371909.63 2,442.00 52.40 92.31 Bal. CIFwd 81850.66 37,048.01 18.421. 34,452.48 76.23 HSBC CFB TMCP (22216) TMCPI21197) TMCP(Ioi Combined T(rtal 143,186.48 1801496.34 981848.68 FUND BALANCES Bal BIFwd 85,154.46 Bal CIFwd 45,748.67 Difference Unrestrirted General Fund .40 Unrestricted Desi nated Prop. Reserve (TMCP) (22216) 18.387.40 181421.30 +33.90 Combined Unrestrirted Total 103. 1.86 -39.371.89 Restricted uest No i(TMCP) (21197} uest No 2 ITMCP) (Ioi Benevolence(CFB) 321390.53 76.15 0.00 341452.48 76.23 +2,061. +0.08 Combined Restricted Total 2 616.68 3kn678.71 +2.062.03 All Fund Combined total 136.158.54 Page i 98,848.68 .86 PMCFin Pinner Methodist Church Financial Papers re Year ended 31" August 2022 STATEMENT OF FINANCIAL ACTIVITY (SOFA REPORT) AS PER CHARITY COMMISSIONERS RETURN Unrestricted Restricted Combined Totsl 2020121 INCOME Offerin sIGift Aid Bank Interest Lettin Other Income 34,842.78 156.62 949.7 ,184.93 30,301.87 138.69 ,402.25 10.1 .84 156.62 1949.75 2,154. Combined Income Totsl 1051979.74 4154.34 108,1 86.038.6 EXPENDITURE Circuit Donations airs & Maintenance Utilities & Insurance (") Other Ex enditure 42,442.¢XI 11442.00 58,005.82 38 74.97 51086.84 421442.00 11442.00 8,005.82 381374- 5.179.15 42,442.00 4956.7 1.50 .459.68 3,475.86 92.31 Combined Ex enditure Total 1.63 61905.79 Transfers Sur luslDeficit (39,3p-89) 2,062.03 (371309.86 {10.867.14) Total BIFwd 1541.86 32,616.68 136,158.54 147,025.68 Total CIFwd 6416 678.71 98.848.68 8.54 (*) Unusually high Utilities total in Financial Year 202￿22 was due to SSE miscalculation on the gas bills. Error being rectified by SSE, which totals £29.567.041 and to be refijnded and credited to our HSBC AIC, butunfortunately not until some time in the next Financial Year. So for Financial Year 202￿22 real General Fund deficit is £391371.89 - £291567.04 i.e. £9.804.85 Page 2 CHURCH RECEIPTS AND PAYMENTS ACCOUNTS THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS Church FOR THE YEAR ENDED 31 August 2022 Clrcult Clr¢uit no. Reglstered Charlty - Charlty Reglstratlon number If not a registered charity Her Majesty's Revenue and Customs Gift Aid number (Th8 HMRC number is equivalent to a registered charity number in terms of evidence of charitable status and may be used to give to donors or grant funders wishing to see eVh1en￿ of the organisation's charitable status. Methodist charities in England and Wales that are not registered charities are excepted from re9istration under Statutory Instrument 2014 No.242) 155£ Minister. Church Stewards.. Treasurer. Church R and P 2015.>Js 1rf5 ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022 Totals last ar SECTION A FL*vI$ a1 RECEIPTS 82 Offeri s aNJ Tax recovered Bank and CFB interest aThJ Investmert i￿8 31tr8W2-IS 83 ISL. 38-Lq S L￿2_2% a4 Letti a5 Other receipts TOT￿ RECEIPTS 17 03ts-5q ioSSI8.1F a6 la7) EL t*￿-LS SECTK)N B b1 PAYMENTS b2 Circuit Assessment or Share Wi-ofj b3 DonatK> Re airs a￿1 NAainteronc& UtilIt￿S Ilr6urar¢es. water char SÈotsS. $3 0￿42 38.S11-S b5 3%.31¥-17 q. wsq b6 b7 Other payments TOTAL PAYMENTS S oÉb-81¥ -8 b8 (b91 805-Tl SECTION C NET RECEIPTSIPAYMENTS FOR THE YEAR ¢1 Total funds brought forward fr last year I￿,[S8. c6 Iik1,eJ2 Sub total ¢1+c2 3ItLIq-11 TraTrsfer5 and ￿l.￿lments (cn c5 TOTAL FUNDS AT END OF YEAR {c3+c4) ICBI Ic6} SECTION D FOR WFORMATklN ONLY: MONEY RECENED AND p￿sED ON TO EX[ERN￿ OR 2011 ISATIONS 2ozol?I these arnounts are not to be i￿l￿ded in ¢otal recei •nts es abov•l d1 Balance tyo M fopKard from last d2 Offeri Gifts. rece￿￿ for externl l.4¥2-00 d3 OfferirKJslGifts . passed to exteThHI c￿gan￿akn 1,Isk-Is d4 BALANCE STLL TO BE PPJD Id1+d2-d3) CknlldkRad P 2O22.xL* 2of5 MPI*JIY THÈ SECnL*4 E Summatyolthechurch xcwnts fry ￿ par 31 Augusl 2022 snd Inierna *)the ChL¥th Cwncqlchuth Meelng. NOiethallhE￿nd￿ of n Iniema n￿￿YbO SJnos bhgyc¢x*J purpL6e TrISS￿￿)n rnkn%ibe nethd ￿￿1￿ nWh(￿ INrER14AL èp Whs l *lts-SS 111d4s 121045 LZJJl8 %S341 2L5-W 4q•l-li Yf•uYH CLY t7 Jns IS488-1 12 533-f3 •12 Chur¢h•¢countsitots *rr￿ghtfUl￿1Fd P 2-tOlA￿¢01￿rnn1 13LIs84 S3 01l-$1 BYCtrIURCH 41 I%So3 38z.si Crntlnueon a syaRte sh•s1 nece$5aryarnl bDryJth8 TOT￿REcEpT3 T¢yf•L PAITrIEiirs 5E¢fi￿4 F CLCtsING CE$ CHURCH-CASH FUIIDS HEiD •t31 Inh￿ I STh4bZ F8Sts-kn 8￿k b1 S2 956-+>1 Ttu¥tw Ix ChLK 5ts 8N.oS SUB TOTNL.CthAth (kne¢Jco {c61 Ic81 t¢￿ 8t￿11•12) IL,fitsI￿D Isa fbll-gLI ZS3¥£3 TOTALe￿￿ FUNDS HELD BYCHUR¢H ly> Section G OTHER ASSETS and LIA81LmES I September 2021 31Au8ust 2022 3F 1ndudeontyFur￿S hdd al Bt Indude ts7tyFU￿s al TnJs*95trKw￿Lst 3d5 Name of Church ....9.1￿￿&￿i ..11 ts955E Declarations and Scrutiny I confinn thal these Receipt and Payment based accounts for the year to 31 August 2022 have teen pr9pared from the rec(xds of the Church and that Ilw IrKaud8 funds under th8 control of the Chur(* trustees. Signaturè oftreasurer .N. !L%....tkANIct. .h.yt*.-.Aopo. Name and address of treasurer . ate.201121.20.2k .21.....LQ. Jtly.l1 ..0.￿8.£,￿lo.rt.tsJ￿.￿￿) .&cKOA4.￿Ost Cod8..w.oa.ts..i tr Presentatlon to the Church trusteos I confirm that the annual report and acC¥￿nts for Ihe year ended 31 August 2022 wereAwll be. presented to the meets'ng of the Chur(* trustees held on ................. Slgnature of the Chalr of the meellrKJ Independent Examlnerfs Report to the Trustee6 of the p4e< .-Church IIL2S Charity Numb•r.............. R•8ponslbllltlos and bas18 ol roport I reporttothelnjsteeson myexarninatlon of theaccountsofthe............................. . Church for the year ended 31 A￿ust 2022 set trjt on pages .1. to 3 As the Church's trustees. you ar• responsible for Ihe preparatm of the aLwunts in accordance with the req￿TeMents of the Chanties Act 20111'the Act.). I report In respect of my examination of Ihe Church's ac(x)unts ￿rrIed oul under sedon 145 of the Act and, in caThying out my examination, I have fdkAved aF4)liCa￿e Directions given by the Charity CommIssl￿ undor sedi(m 145(5Xb) of the *£L . delets or cirde as approFThts 2015I*LYthRarrflPJ 4rf5 Name of Church...... . No .l!L£S56 Independent Examlnerfs Ststoment I have completed my examinatK)n. I confirm that no material matters have come to my attention in connection with the examination (other than thal disdosed below.) whid) give me cause to believe that in, any material r8SP8Ct: the accountlng re(x)rds were not kept in auxKdance with section 130 of the Act,. or I have no concems and have come across no other matter5 in cx)nnectK)n with the examination to which attention should be drawn in this report in orcler to enable a proper understanding of th8 accounts to be reached. I ￿￿palhaVe not" obtained independent veiification of all investments with the Trustees for Methodist Church Purposes or held in other trusts. bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10.000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Nam8 of independent 8xamin8r Relevant professional qualification of independent examiner Nam8 of firm (where appropriate) 41 Address 8Ef Date 22 delete or cirde as appropriate Sep-22 2015 clKwth R P Sd5