REGISTERED COMPANY NUMBER: 10351537 (England and Wal> REGISTERED CHARITY NUMBER: IA69890 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 T DECEMBER 2024 FOR NITED MET DIST CHURCH UK t£roy Reid & Co Chartered CertifieAI Accountsnts and Stalutory Auditors 299 Northborough Road Norbury London SW164TR
UNITED METHODIST CHURCH UK REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2024 TRUSTEES Mrs K Manyika (resigned 26.3.25) G T Mataranyika (resigned 5.3.25) Mrs Z P Mudambanuki X Gombakomba Mrs L Chandigere (resigned 5.3.25) Mr Z Magorno (resigned 5.3.25) Mrs J Sibanda (resigned 5.3.25) T B Muchenje (resigned 5.3.25) J Kapumha J Mataranyika (resigned 5.3.25) Mrs R M Mojapelo Miss F Chingwena (resigned 5.3.25) A M Soko (resigned 5.3.25) Mrs A Mutyora (resigned I1.5.25) Dr U Mupambireyi (resigned 5.3.25) Miss P N Makunike (r¢signd 5.3.25) F Mutsipa (resign 5.3.25) Ms R Betsva (appointed 5.3.25) S B¢tsva (appointed 5.3.25) M S Chikukwa (appointed 5.3.25) T G Fusire (appointed 26.3.25) E Gunguwo (appointed 5.3.25) T Hungwe (appointed 5.3.25} W D Kanjanda (appointed 5.3.25) M Kanyoka (appointed 4.7.25) Ms P A Karumazondo (appointed 5.3.25) E Masenda (appointed 5.3.25) M Munyebvu (appointed 19.2.25) Ms H Muranda (appointed 4.7.25) Ms S Musafare (appointed 5.3.25) REGISTERED OFFICE Mayfiower Methodist Church Ethel Road Leicester LE5 5ND REGISTERED COMPANY NUMBER 10351537 (England and Wales) REGISTERED CHARITY NUMBER 1169890 INDEPENDENT AUDITORS Leroy Reid & Co Charler¢d C¢rtified Accountant5 and Stalutory Auditors 299 Northborough Road Norbury London SW16 4TR Page I
UNITED METHODIST CHURCH UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The trustees who are also directors of the charity for the purposes of the Companies Ad 2006, present their report with the financial statements of the charity for the year ended 3 1st December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of ReLommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable ift the UK and Republic of Ir¢land (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectlves and almi The Jn4lin objectives of the charity are to promote and advance the Christianreligion. worship and to promote th¢ Unit¢d Meth(Mlist Church centres of worship in furtherance of its public benefit objective. The strategy employed to achieve the objectives of the charity has continued to be regular church serviceg, Christian conventions, crusades, and ministeringthe word of God. The strategy also involves help with financial hardbhip and to promote and preserve good health by the provision of fvnds, gLKNls, or services of any kind in sueh parts of the United Kingdom, Zimbabw< or the world as the Church shall deterniine. Publle beneflt The Trut*tees of the United Methodist Church (UK) confirni that they are satisfied that they have complied with their duty with regards to ensuring that the Charity has undertaken suitabl¢ works for the benefit of the public as required by the Charity Commission. STRATEGIC REPORT AchievemeDts and performance l. Key Charitable actlvftles The Trustees are able to report another good year of growth in membership and expansion into fully fledged local church in oth¢r areas of the UK such as Newcasllc, Thc Church's annual conferencc which is Ubually h¢ld towards the end of the year wa&• Postponed to early 2025 due to a major bereavement in the Church when the Ihcn District Superintendent passed away. The Church conlinued to demonstrate its solidarity in supporting the bereaved spirilually, morally and financially. A delegation representing the church attended th¢ funeral of the late District Superinlendenl which w&s h¢ld in Zimbabwc. This practi¢¢ has made an impact on societies where members live. The UK Mission Area of The United Melhodisl Church (UK) has been involved in visibly inspiring worqhip durin8 Sunday services and at the Revival meetings. Nolable revivals include the Easter revival and those hosted by Women, Mcn and Youths groups during the cours¢ of the year. Believers have encountered the Lord in individual and corpor<lte worship resulting in thc deepening of thcir failh An Ihc risen Lord. This has been cvidenced by personal testimonies at worship places and in conversations. Love, forgiveness. patience and kindness as Christian virtues have been noliced in our $ocial interactions. Church support through giving has been witne&scd in Local ChurLhes, especially during Harvc8t Thanksgiving. Some mcmbcrs have moved from pledging to tithing according to our teaching in the Uniied Meth(xlist Church. (Th¢ B(x)k of Ditscipline of the United Mcihodist Church 2012 para 630E). The Church has a responsibility in stewardship To educate the Local church that tithing is the minimumgoal of giving in the United Methodist Church." The Church calcndar has IK¢n closely followed. and members havc enjoyed life in Christ as they hav¢ been prdying for unity in th¢ Church. p¢ac¢ in the world and observancc of Christian norms and values during Sunday School, section meetings and Church organisations, mecting5. The Church continue5 to witness increased growth in numbers arising from the H¢alth¢ar¢ Sponsorship visa scheme. Programs have been put in place to assist these members acclimatize to their new environment and it5 challcnges. 2. Four Focus Area5 Develop Principl¢d Christian Leaders Congrcgational Development Alleviiition of Poverty Improved Global Health The work done throughout the UK Mission Area continue to be concentrated to these four focus areas. We are happy and encouraged by the impact of our efforts locally and globally. Page 2
UNITED METHODIST CHURCH UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 The United Methodist Church (UK) continue to work in partnershipwith various institulionsin less developed countri¢s, responding to disastsrs and being involved in various poverty alleviation programmes, Our partnership with various churches in Zimbabwe enables us to spread the gospel of Jesus Christ through vital missions, work. Through the work generously funded by our Charges, below are examples of the United Methodist Church (UK)'s continued participation and engagement with communities and Churches in deprived societies and communities. Annually and through the authority of the UK Mission Area Annual Conference, the church in the UK organises its members to raise funds to support two communityprogrammes in Zimbabwe. The programmes are Pastoral Appeal and Orphanage funds. These have been ongoing programmes since the Church begun its operations in the UK in 2000. (a) Pastoral AppeAI last year a total of £6.945.47 and this year £6,545.00. was raised during the Pastoral Appeal Sunday held on 30th June 2024. (b) Orphanage Funds A iotsl of £11,062.05 was raised in 2023 and this year £13,398.18 was contributed by members during the Orphans Sunday which wa¥ held on June 30th. These funds we divided between two orphanages, Home of Hope in Mutoko and Fairfield Orphanage at Old Mutare Mission both of which are in Zimbabwe. A reprcE4entative of thc Church wilncssed the handover of the donation to the b¢n¢ficiary organiyations. (e) Mlsslon Hospllals Fund A total of £9.082.00 was raised in 2023. The amount raised ihis year ib £14.321.93. The fundt•. were disburscd to beneficiary mission hospitals in Zimbabwe namcly Old Mulare Mission and Nyadire Mission hospita15 for the purchase of operating tables. CHARGE HIGHLIGHTS (l). Central Charge Th¢y raised £ l 01.611.00 towards their Harvest and Thanksgiving, this beinbT the highest raised in whole Area in 2024 A total of £2,881.20 was raised towards assistinbi our Mission hospitals in Zimbabwe The Youths and Junior8 were being allocated time to lead and conduct worship scrvices. They had 4 weddings of iheir youth members. Purchased a l)ouse in Kettering for uye as a parsonage (11) Mldland Charge Their Local Churches continued with their twinned programmes including rural Churche$ in Masvingo District in Zimbabwe in which they provided ndS for the drilling of a borehole and purchasc of school uniforms and school fees for needy children. Raised a total of £72,674,20 as Harvest Thanksgiving. They have a vibrant PrOaM involving Youth as preachers and havc some English services especially for them. (lfii) North Charge They promoted Youth and Juniors activities and allowed thein to lead whenever they are gathered. Thcy rdised a total of £32,114.00 for Harvest Thanksgiving Raised £574.00 towards the Pastoral Appeal Sunday Raised £356.25 towards the Orphans nd (v) Soulh Charge Raised £98,172.26 towards Harvest Thanksgiving They raised £2.400.00 towards the Zimbabwe rural pastors, car fund They raised £5,310.00 toward5 supporting UMC Hospitals in Zimbabwe Page 3
UNITED METHODIST CHURCH UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 STRATEGIC REPORT Fln*n¢lal reeW Flnaoelal p081tlon The church's main source of income is member donations. We retain strong financial backing for our work from our members. IDcome Total incoming resources for the year under review was £1,465,136 (2023: £1.334,316), an increase of 9.800/0 compared to the previous year. The increase was mainly attributed to a marked increase in membership in 2024, which translated to general donations going up. Expendltiire Total resources expended increased by about IO% during the year to 31 December 2024 to £1,151,509 (2023: £1.046.980). The charity reported a Net Surplus of £313,627 (2023.. £287,336). The surplus can be explained to the increasc in general donations in 2024 compiircd to 2023. The increase is directly linked lo the ongoing face-lo-face gatherings and the costs involved in their holding. Capltal expendlture Following the 2020 End of Year Conference resolution, the Church embarked on a strategy to invest resources in acquiring immovable assets. Following on lo th¢ purchase of a prop¢rty in the South Charb7e and Midlands Charge. we are happy to repori that the Ccntral Charge has now acquired a property oftheir own. Fixed A$t9 The carrying value of our tangible fixed asscts decrea8ed by 2 % to £865,380 (2023: £884.339). Current Assets Current absels increased minimally by £334,047 to £2,847,074 for the year ended 31 Dccember 2024 (2023; £2,513.027). Reserves pollcy General retserves are set according to the Church's reserves policy at 250/0 of total annual cxpenditure. The objective of our reserves policy is to ensure that the CharitymaintainssutTicient cash and readily realizable assels to enable it to withstand ihe impact of a po88ible drop in income for any reason or unplanned increase in gencral operational exp¢nditure. Reserves will help ease financial pressure while neccssary adjustments are being made to the Chur¢h'$ operations. General reserves dre not restricied to or de8isnated for a particular purpose. As at 31 D¢¢¢mber 2024, the reserves position was well abovc the church r¢s¢rv¢s policy at £2,833,473. {2023-£2,500,887) The tothl of the unrestricled general fund.s balance was £3.698.853. (2023: £3.385,226). Within this figure, £865,380. (2023: £884,339) wa8 invested in fixed etS thal are used for the day-to-day running of the Church's activities. It is therefore not available for use as a reserve. Golng concern The Charitable company, for the year under review, is in a firm financial posilion and as Trustees, we are of the opinion that the financial statem¢nts should continue to be prepared on th¢ basis that th¢ charity is a going concern for the next 12 months, Based on our forecasts and the charity's available resources, the Trustees feel that the charity has sufficient resources to continue for the foreseeable future and th¢refor¢ continues to adopt the going concern basis in preparing these Financial Statements. Page 4
UNITED METHODIST CHURCH UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 STRATEGIC REPORT FlnancSal review As shown in the financial statements, it is evident that the charityhas adequate financial reyources to enable it to manage short to m¢dium-term business and finance. LOOKING AHEAD Th¢ United Methodist Church {UK) commits to wntinue pursuingobjectiv¢s for the fiiture Spiritual hralth and growth of the Church, in particular objectives that focus on educating and ¢vangelizingto our young adulLs and children under th¢ age of12. As a forward-thinkingchurch we will continue to invest in our youth to ensure and guaranteeth¢ future of the Church. We will continue to ¢ncourage th¢ purchase of buildings to be used as places of worship. The Church currently spends a sizeable amount of money on rental for such places and in the long run this will prove as savings io the Church. With the aforementioned growth in membership, the Church will be looking to restructure ils Charges for effective adininistrationand ministry. Taking into account some of the distances being und¢rtakenby the clergy there will be need to increase the number of clergy personnel. Lastly the Church will continu¢ to embark (In a programme to en$ur¢ that its policies and governing duMentS are relevant and up io dale. Evangellsm The Church in the UK strives to en8ure that the Gospel reaches everyone as it exists primarily to spr¢ad the Word of God to all nations worldwidc and serve communities locally and abroad. STRUCTURE. GOVERNANCE AND MANACEMENT Governlng document United Methodist Church (UK) is a charitable company limited by guarante¢ and incorporated on 30 August 2016 as defined by the Companies Act 26. It is governed by a Memorandum and Articles of Associatlon and controlled by Board of Trustecs who are director5 for the purpose of Company law and trustees for the purpose of Charity law. The incorporated company registration number is 10351537 and the Charity Commission number is 1169890. Recrultjllent and appolntment of trustees Truslees are ¢Ited and inducled into oifice at the UK Mission Area Conference which also doubles as the Charity Annual General Meeting and serve for two years. Al the beginning of thc year, the Church organizcs Iraining and workshops for trustcw so thcy receive induction on their roley and responsibilities. Where a need arises, additional training can bc orbianized at any point throughout the year to keep trustees and ¥taff abrcasl of new developments. Organl$ational 5tru¢ture The governance of the United Methodist Church (UK) is the responsibility of the UK Mission Area Conference. Thc UK Mission Area meets annually to receive and discuss reports from four main IN)ards and committ¢es. The United Methodist Church (UK) is organized in a methodical way using specific structures introduced by ils found¢r. John Wesley. There are defined Church structures that enable decision making. God is the suprem¢ authority and consultation is vital. Our Churchcs work within a shared vision, disciplines, and protocols. The United meth]t Church (UK) Mission Area Compri four Charges namely Central, Midlands, North and South. The UK Mission Ared is the umbrella body into which local Churches in the United Kingdom and Republic of Ireland report. The District Superintendenl i.s appointed to Icad thc UK Mi&sion Ar¢a. The UK Mission Ar falls under the United Methodist Church Zimbabwe Episcopal Area which is the supreme decision-making body. Page 5
UNITED METHODIST CHURCH UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Charges comprise of cluster of local Churches as detailed below. They are served by an Ordained or Local Pastor and a team of l(ul preachers. Th¢ local Church is a congregational place of worship where Unit¢d Methodist members are nurtured and have their membership registered. Central ChArge Midlandi Charge North Charge South Charge l. Cambridge 2. Hatfield 3. Leicester 4. Luton S. Northampton 6. Nottingham 7. Oxford 8. Norwich 9. P¢t¢rlK)rough l. Coventry 2. Birmingham 3, Wolverhampton 4, Bristol 5. Crewe l. Leeds 2. Manchester 3. Sheffield 4. Newcastle l. Chelmsford 2. London 3. Por18mouth 4. Slough Related partle$ The trustees are aware of those persons Lonsidered as relaied parties. For the year under rcview. the trustees confirm that there were no inaterial relat¢d party transactions that should be ditscloscd in tlje financial stat¢ments. Rlsk manAgement The trustees are responyible for identifyryng the risks lo which the Charity is exposed and to ensure appropriale written procedures, policies, and internal controls are in place to provide reasonable assuranLe against fraud and error. The major risks to which the Charity is expos¢d have been identified as the safeguarding of assets of the Charity and ensuring fund1 are applied for charitable purposcs according to set objectives and financial plans. Internal control syslcms and strategies have been put in place lo mitigalc the8c rislLS. Income and exp¢nditure are monilored through budget sctting and are periodically coinpared again ULtual performance. Quarterly internal audits are pcrformed throughout ihe year, which allows for rcgular monitoring of key risks and the etyectiveness of internal control ¥yslcms. Annually, the executive reviewy the Church's approach to risk and recommend8 changes or improvements to key processes and procedures. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of United methodi.st Church (UK) for the purposes of company law) are responsible for preparing the Report of the trustees and the financlal ststements in accordance with applicablc law and United Kingdom Accounting Standards (United Kingdom Generally Aepted Accounting Practicc) including Financial Reportinbp Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.. Company law rcquircb the trustecs to preparc financial statements for each financial year which givc a true and fair view of the state of affairs of the charitable Compiiny and of the incoming r¢sourc¢5 4md application of Tebourc¢s. including the income and expendilure. of thc charitable company for that peri(Kl. In preparing thosc financial statements, the truslees are r¢quired to select suitable accounting policies and then apply them consistently. observe the meth(Kls and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent; slate wheth¢r applicable accounting standards hav¢ been followed, subject to any material departures disclosed and explained in the financial statements,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charilabl¢ ompany will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 6
UNITED METHODIST CHURCH UK REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMB 24 STATEMENT OF TRUSTEES, RESPONSIBILITIES - tonilnued The trustces are responsible for kecping proper accounting records which disclose with reasonable accuracy at any time the financial position ofthe charitable company and to enable them to ensure that the financial statements comply with the Companies Aci 2006. They are Pllso responsible for sglfeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the tntstees are aware-. there is no relevant audit infomiation of which the charitable company's auditors are unaware,. and the trusÉees have taken all stcps that they ought to have taken to make themyclvcs aware of any relevant audit inforniation and to e8lablish that thc auditors are awaTe of thal informalion. AUDITORS Thc auditors. Leroy Reid & Co, will be proposed for re-appointment at the forthcoming Annual General Meeting. Reporl of the Iruslttes, incorpurilting a Strat¢s?t¢ r¢port. approvvd by order of the board of Iruslces, as th¢ company direbiurs, on 24, S¥pl¥mber 2025 and yi¥ned vn th¢ bvard's behaifby.. Munycbvu - Trustcc Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF UNITED METHODIST CHURCH UK Oplnlon We have audited the financial statements of United Methodist Church (UK) (the'charitable cornpan) for the year ended 31 st D¢cember 2024 which comprise the Statement of financial activilics, the Statement of financial position. the Statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied ID their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practic¢), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements: give a true and fair view of the state of the charitablecompangs affairs as ai 3 1st December 2024 and of its incoming resources and application of r¢sourc¢s, including its income and expenditure, for the year then ended. havc been properly prepared in accordance with United Kingdom Generally AcLepied Accounting Practice. including Financial Reporting Standard102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnion We conducted our audil in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those Ytandards are further deaLribed in the Auditors, responsibilitie5 for the audit of the fjnancial tstat¢mcnts section of our report. We are independent of the charitabl¢ company in accordance with the ethical requirements that are relevant to our audit of the financial stalements in the UK, including the FRC'S Ethical Standard, and wc havc fulfilled our other ethical rebponsibiliti in accordance with the8e requirements, We lIeVe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relatlng to golng ¢on¢ern In auditing the financial 8tatements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have nol identified any material uncertainlie.8 relating to events or conditions that, individually or collectively, may cast significani doubt on thc charitable companls ability to continue a8 a going concern for a period of at least twelve months from when the financial 8tal¢ments are authoriscd for issue. Our responsibilities and the responsibilities of the trustee8 with respect to going concern are described in Ihe relevant sections of this report. Other Informatlon The Iruslth are responsible for the other information. The other information comprise5 the information included in the Annual report, other than the financial statemenls and our Report of the independent auditors thereon. Our opinion on thc financial statements does not cover the other information and, except lo thc extent othcrwisc explicitly stated in our report, we do not express any form of assurance conclusion thcreon. In connection with our audit of the financial statements. our responsibility is to read the other information and, in doing so. consider whether the other information is materially in¢onsistenl with thc financial stateTnents or our knowledge obtained in the audit or otherwise appears to be materially mi.sstated. If we identify such material inconsistencies or apparcnl material mis.qtatements, we are required to determine whcthcr thi.s gives rise to a material misstatement in the financial statement5 themselves. If, based on the work we have performed. we conclude that ther¢ is a material misslatement of this other information, we are required to report that fact. We have nothing to report in this rcgard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion. bascd on the work undertaken in the course of the audit: the information given in the Report of the trustees for the financial year for which the financial statements are prepared is consistent with the financial .statemcnls' and the Report of the trustees has been prepared in ac¢ordance with applicable legal requirements. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF UIYITED METEIODIST CHURCH UK Matters on which we Ydre requlred to report by exceptlon In the light of the knowledge and understandingof the charitable company and its environmentobtained in the course of the audit, we have not identified material misstatements in the Report of the trustees. We have nothingto report in respect of the following matters where th¢ Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us. or th¢ financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made- or we have not received all the infortnation and explanations we require for our audit. Responslbllltles of trustees As explained more fully in the Statement of Iruslees, responsibilities, the trustees (who arc also the directors of the ¢haritable company for the purposes of company law) are responsiblc for the preparation of the financial statements and for bcing satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statemenls that are free from material misstatement, whether due to fraud or error. In preparing the finan¢ial statements, the trusteeg are responsible for as8e4qing the charitable CoMpanS ability to continue a8 a going conLern, disclusing, as applicable, matters related to going concern and using the going ¢on¢orn basis of accounting unle55 the trustees either inlend to liquidaie ihe charitable company or to ¢eAse operations. or have no realistic alternative but to do so. Our responslbllltles for the audit of the finaneial 8tatemenl8 Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement,wh¢lher du¢ to fraud or ¢rror, and to issu¢ a Report of the independent auditors that includes our opinion. Reasonable assurance is a high level of assurdnce. but is not a guarantee that an audit Londuct¢d in accordance with ISAS (UK) will always detect a material misstatement when it existt•. Mi88tateinents can ariye from fraud or error and are consid¢red malerial if, individually or in the aggregate, they could reasonably be expected to influence thc economic decisions of users taken on the basis of these financial statements. As part of our planning process: We enquircd of mana&iement the systems and conlrols the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularitiesand fraud, and whether there wa5 any known, suspected or alleged fraud. The charltable company did not inform us of any known, suspected or alleged fraud. -we obtained an under8tanding of the legal and regulatory frameworks applicable to the charitable company. -we considered the incentives and opportuntties that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated. and tailored our risk assessment accordingly. -Usins our knowledge of th¢ Company, togahcr with the discussions held with the company at thc planning stage. we formed a conclusion on the risk of misslatem¢nt due to irregularities including fraud and tailored our procedurcs according to thi5 risk assessment. Page 9
REPORT OF THE INDFPENDENT AUDITORS TO THE MEMBERS OF UNII'ED METHODIST CHURCH UK As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also,. Identify and assess the risks of material misslatementof the financialstatements. whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is suificient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatementresulting from fraud is high¢r than for one resulting from error, as fraud may involv¢ collusion, forg¢ry, int¢ntionalomissions, misrepresentations.or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit prLKedures that are appropriate in the circumstances. bul noi for the purpose of expressing an opinion on the effectiveness of th¢ charitable cOmpanS internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting cslimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on th¢ charitable Compan1 ability to continue as a goin¥ concern. If we conclude that a material unc¢rlainly exists, we are required to draw attention in our Report of the independcnt auditor8 to the related disclosures in the financial statements or, if such dis¢losur¢s ar¢ inadequat¢. to modify our opinion. Our ¢on¢lusions are based on the audlt evidence obtained up to thv date of our Report of the independent auditors. However, fvture events or conditions may cause the charitable CoMpanS to cease to ¢onlinu¢ as a going concern. Evaluate the overall presentation. structurc and content of the financial statement8, including the disclosures, and whether the financial statem¢nts represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged wilh governancc regarding, among uther matters. thc planned scope and timing of thc audit and bignificant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report Thi25 report is made solely to the charitable compan$ memlws, as a by, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work h¢1¥ been undertaken 50 that we mibiht state to the charilable compan8 members those matters w¢ are required to stale to thein in an auditors, report and for no other purpose. To th¢ fullcsl extent permittcd by law, we do not accept or assume responsibility to anyone othcr than ihe charitable Lompany and the charitable Compan11 members as a body, for our audit work, for this report. or for the opinion.s we have formed. Mr Ebenezer Okai, (Bsc), FCCA (Senior Statutory Auditor) for and on behalf of LKroy Reid & Co Chartered Certified ALcountunts and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR Date-. Z•- Page 10
UNITED METHODIST CHURCH UK STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1,450,255 1,330,446 Investment income 14,881 3,870 Total 1,465,136 1,334,316 EXPENDITURE ON Raising funds 91,470 35,394 Charltable a¢tlvltles Direct charitable activity Support Charitable activity Governance Evangelism and stewardship 236.612 205,828 11.304 606,295 165,903 231.811 9.492 604,380 Total 1,151.509 1,046,980 NET INCOME 313,627 287,336 RECONCILIATION OF FUNDS Total funds brought forward 3,385,226 3,097,890 TOTAL FUNDS CARRIED FORWARD 3,698,853 3.385,226 The notes form part of these financial statements Page 11
UNITED MEI'HODIST CHURCH UK STATEMENT OF FIIYAIYCIAL POSITIOIY JIST DECEMBER 2024 2024 Total funds 2023 Total funds Notes FIXED ASSETS Tangiblc asscts 865.380 884.339 CURRENT ASSETS Debtors Cash at bank 12 103.703 2,743.547 95.516 2,417.511 2,847,250 2,513,027 CREDITORS Amounts falling due within one year 13 (13,777) (12,140) NET CURRENT ASSETS 2 833 473 2 500 887 TOTAL ASSETS LFSS CURRENT LIABILITIES 3,698,853 3.385,226 NET ASSETS 3 698 853 3 385 226 FUNDS UnrC¥triLCd fund3 14 3 698 853 3 3¥5 226 TOTAL FUNDS 3,698,853 3 385 226 The financial slalemenls w¢rc approved by thc Board of Truslees and 8Uthorised for issu¢ on 24, Scptcmber 2025 and wcrc signcd on its bchaifby.. M Munyebvu - Trust¢¢ The not¢s forn] part of thesc financial statements Page 12
UNITED METHODIST CHURCH tJK STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 Notes Cash flows Crom operatlng aetlvltlei Cash generated from operations 318,264 276,292 Net cash provid by opcrating activities 318,264 276,292 Cash flows from Investlng aedvltles Purchase of tangible fix assets Inlerest received (359,253) 3,870 7,772 Net C4$h provided by/(us in) investing activities 7.772 (355,383) Change In egsh and eash equlvalents In the reportlng perlod Cash and Cash equlvalents at the beglnnlng of the reportlng perlod 326,036 (79,091) 2,417,511 2,496,602 Cash and eash equlvalents at the end of the reportlng perlod 2.743,547 2,417,511 The notes form part of these financial statements Page 13
UNITED METHODIST CHURCH UK NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST DECEMBER2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Income for the reporting period {As per the Statement of finvdncial actItIes) Adjustments for: Depreciation charges Interest received Increase in debtors Increase in creditors 313,627 287,336 18.959 (7.772) (8.187) 1,637 19,156 (3,870) (28,116) ,786 Net eash provlded by operatlony 318.264 276,292 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 Cash now At 31.12.24 Net Cash Cash at bank 2,417.511 326,036 2,743.547 2,417,511 326,036 2,743.547 TotAI 2,417.511 326.036 2,743.547 The notes forni part of these financial statements Page 14
UNITED METHODIST CHURCH UK NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial Statements of the charitable company, which is a public benefit entity under FRS 102, have been pr¢pared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rq)ortin8 Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (effective l January 2019),, FIanCi&ll Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Coinpanies Act 2006. The financial statements hav¢ bc¢n pr¢pared under the historical cost convention. INCOME All income is Tecognised in the Statement of Financial Activities once the charity has eThtitlem¢nt to the fund& it is probable that the income will be reccived and the amount can be measured r¢liably. EXPENDITURE Liabilitie8 are recognised as expenditure as soon as there is a legal or constructive obligation comrnitling the charity to that expcnditurc, it is probablc that a transfer of economic benefits will required in t•etllcmcnl and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a ba6is consistent with the use or resourc¢s, TANGIBLE FIXED ASSETS Depreciation 18 provided at tlle following annual rates in order to write otT each asset over its estimated useful life. Freehold property Plant and machinery Fixlures and fittings -2 % on straigFht line -250/0 on reducing balance basis -25010 on rcducin8 balance basis. TAXATION The charity is exempt froin corporation tax on its charitable activities. FUND ACCOUNTING Unrestricted ndS can be used in accordance with the charitable objectives at the diwetion of ihe trustees. Re8tri¢ted fvnds ¢&n only be used for particulorrestricled purposes within the object$ of the charity. R¢strictions arise when ypecified by the donor or when funds are raibed for particular restricted purposcs. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS The charitable company operates a defined contribution pen.sion scheme. Contributions payable to the charilable compan5 pension scheme are charged to the Staternent of Financial Activities in the period to which they relate. The amount recognised as an expenditure in relation to the pension scheme operated by the company was £2.379 (2023 £1,941). Page 15 continued...
UNITED METHODIST CHURCH UK NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST DECEMBER 2024 DONATIONS AND LEGACIES 2024 2023 Titheb and offerings Special fund donations Gift aid 1,316,923 26,322 107,010 1,193,106 31,851 105,489 1,450,255 1,330,446 INVESTMENT INCOME 2024 2023 Rents received Dcposit account interest 7.109 7.772 3,870 14,881 3,870 RAISING FUNDS RAISIIYG DONATIONS AND LEGACIES 2024 2023 Hire charges Catering & entertainment Othcr otTice costs 34,639 29.4511 27,373 10,833 23,353 1,208 91.470 35.394 CHARITABLE ACTIVITIES COSTS Dlrect Costs (see Dote 6) Support costs (see note 7) Totals Direct charithble activity Support charitabl¢ activity Governance Evan¥¢li5m and stewar$hip 236,612 204.260 236,612 205,828 11,304 606,295 1.568 11,304 606,295 1,047,167 12,872 1,060,039 Page 16 continued...
UNITED METHODIST CHURCH UK NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST DECEMBER 2024 DIRECT COSTS OF CHARITABLE ACTivrriES 2024 2023 Staff costs Rates and water Insurance Light and heat Telephone Postage and stationery Other office costs Laytraining Legal and professional fees Special nd expenses Rent Motor & travel Costs Evangelism and stewardship Depreciation 172.899 9,377 4,519 127,322 4,839 8,983 320 6,039 2,378 19,425 4,471 5,046 1,380 158,344 38,301 604.380 19,156 6,120 3,230 31,423 6,437 6.894 121.524 59.490 606,295 18,959 1,047.1 ()7 1.000,384 SUPPORT COSTS Informatlon technology Governanee costs Finanee Total8 Support charitable activity Governance 908 660 1,568 11,304 11,304 908 660 11,304 12,872 Support costs, included in thc abovc. are as follows: 2024 2023 Support chydrltable actlvlty Total activities Total ¢tlvitie$ Governance Bank charges Website expenses Auditors, remuncration Accountsncy and legal fees 908 660 908 660 5.892 5,412 774 936 4,932 4,560 5.892 5,412 1.568 11.304 12.872 11.202 Page 17 continued...
UNITED METHODIST CHURCH UK NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST DECEMBER 2024 NET INCOMEI{EXPENDITURE) Net ineomel(expenditure) is stated after chargingl(crediting): 2024 2023 Auditors, remuneration Depreciation - owned assets 5,892 18,959 4.932 19,155 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneralion or othcr InefitS for th¢ year ended 31st De¢emb¢r 2024 nor for the year cndcd 3 1st Decembcr 2023. TRUSTEES, EXPENSES There were no trustees, expenses paid for the year ended 31st De¢¢mber 2024 nor for ihe ycar ended 3 1st December 2023. io. STAFF COSTS 2024 2023 Wages and salaries Social security ¢08ts Other pension costs 163,455 7,065 2,379 122.557 2.824 1,941 172.899 127,322 Th¢ average monthly number of employees during the year was as follows: 2024 2023 Pastors and admini8trator6 No employees received emoluments in excess of £60,(K)O. ii. TANGIBLE FIXED ASSETS Flxtures nd rittings Freehold property Plant and machlnery Totals COST At 1st January 2024 and 3 1st Decemb¢r 2024 918,578 34,759 5.363 958.7(X) DEPRECIATION At 1st January 2024 Charge for year 36,591 18,371 33,250 377 4,520 74.361 18,959 Al 3 1st December 2024 54.962 33,627 4,731 93,320 NET BOOK VALUE At 3 1st December 2024 863.616 1,132 632 865.380 At 3 1st December 2023 881,987 1,509 843 884.339 Page 18 continu¢d...
UNITED METHODIST CHURCH UK NOTES TO THE FINANCIAL STATEMENTS - eontlnued FOR THE YEAR ENDED 31ST DECEMBER 2024 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 HMRC - Gift aid 103,703 95,516 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 SocAal security and other tax¢s Other creditors 3,086 10,691 2,648 9,492 13,777 12.140 14. MOVEMENT IN FUNDS Net movement In funds At 31.12.24 At 1.1.24 Unre¥trlcted funds General nd 3.385,226 313,627 3,698,853 TOTAL FUNDS 3,385.226 313,627 3,698.853 Net movement in funds, included in the above are as follows: Incomlng resources Resources expended Movement In funds Unrestrlcted funds General fund 1,465,136 (1,151,509) 313.627 TOTAL FUNDS 1,465,136 (1,151,509) 313,627 Comparatlves for movement In funds Net movement In funds At 31.12.23 At 1.1.23 Unrestricted funds Gen¢ral fund 3.097,890 287,336 3,385.226 TOTAL FUNDS 3,097.890 287,336 3,385,226 Page 19 continued...
UNITED METHODIST CHURCH UK NOTES TO THE FINANCIAL STATEMENTS - eontlnued FOR THE YEAR ENDED 31ST DECEMBER 2024 14. MOVEMENT IN FUNDS - contlnued Comparative net movement in funds, included in the above are as follows: Ineomlng re8ource5 Resources expended Movement In funds Unrestrlcted fundi Gen¢ral fund 1,334,316 (1,046,980) 287.336 TOTAL FUNDS 1,334.316 {1.046.980) 287,336 A Current year 12 months and prior year 12 months combined position 1$ as follow5: Net movement ID funds At 31.12.24 At 1.1.23 Unrestrlcted funds General fund 3,097,890 600,963 3,698,853 TOTAL FUNDS 3.097,890 600,963 3,698,853 A current year 12 month5 and prior year 12 months combincd net movement in funds, included in the above are as follows: Ineomlng resource$ Resource8 expended Movement in fllnd8 Unrestrlcted funds Gen¢ral fund 2,799,452 (2.198,489) 61K),963 TOTAL FUNDS 2,799,452 {2,198,489) 600,963 15. RELATED PARTY DISCLOSURES There were no related party transactions for thc year ended 3 1st December 2024. Page 20
UNITED METHODIST CHURCH UK DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Donatfions and legaties Tithes and offerings Special thnd donations Gift aid 1,316,923 26,322 107,010 1,193,106 31,851 105,489 1,450.255 1,330,446 Investmeot income Rents received Dcposit acwunt interest 7,109 7.772 3,870 14.881 3,870 Totsl Incoming resoureej 1,465,136 ,334,316 EXPENDITURE Ralslng donatlons and legfdeles Hir¢ chargcs Calering & entertainment Other office costs 34,639 29.458 27,373 10,833 23,353 1,208 91,470 35,394 Charltable *ctlvltle Wages Social security Pensions Rateth and water Insurance Light and heat Telephon¢ Postage and stationery Other oifice costs Laytraining Legal and professional fees Special fund expenses Rcnt Motor & travel costs Evangelism and 8tewardship Depreciation of tangible fixeAI assets 163,455 7,065 2,379 9,377 4,519 122,557 2,824 1,941 4,839 8.983 320 6,039 2.378 19.425 4,471 5,046 1,380 158,344 38.301 604.380 19,156 6,120 3,230 31,423 6,437 6,894 121,524 59,490 606,295 18.959 1,047,167 I,(X)0.384 Support coyts Flnanee Bank charges 908 774 This page does not form part of the statutory financial Statements Page21
UNITED METHODIST CHURCH UK DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024 2024 2023 Flnanee Incormadon teehnology Website expenses 660 936 Governanee eo Auditors, remuneration Accountsncy and legal fees 5,892 5,412 4,932 4,560 11.304 9.492 Total remrces expended 1,151.509 1,046,980 Net Ineome 313,627 287,336 This page does not form part of the statutory financial statements Page 22
UNITED METHODIST CHURCH UK CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Page Reference and admlnlstratlve detallo Report of the tnteel Report of the IndepeDdeot audltorj 8 to 10 Stslen*nt of flnanclil aellvltle8 ststement of flDanclal poiltlon 12 Stalenxnt of cajh flows 13 Notes to the 8tatemeDt of cash flow8 l4 Nolej to the flnAnclal statements 15 10 20 Det&lled statement of flnanclAI gctlvltl 21 to 22