SHERWELL UNITED CHURCH PLYMOUTH & DEVONPORT CIRCUIT FINANCIAL STATEMENTS FOR YEAR ENDING 31ST AUGUST 2024 Charity Number 1173365
Sherwell United Church Plymouth & Devonport circuit Financial statements for year ending August 2024 Contents Page Reference and administrative details Trustees report Independent examiners report Statement of financial activities Balance sheet Notes to the financial statements 8-12
Sherwell United Church, Plymouth & Devonport circuit Reference and Administrative details for year ending August 2024 Principal address Sherwell United Church North Hill Plymouth Devon PL4 8ER Minister Rev Alistair Lowe Independent examiners David A Summers 3 Sherford Crescent Elburton Plymouth PL9 8DU Principal Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ page I
Sherwell United Church, Plymouth & Devonport circuit Trustees Report for year ending August 2024 Sherwell United Church submit their annual report and financial statements for the year ending August 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities, effective l January 2015, in preparing the Annual Report and Financial Statements of the charity. STRUCTURE, GOVERNANCE AND MANAGEMENT The General Church meeting, meets regularly during the year and all mejor policies and decisioNs recommended by the Trustees are brought to thi5 meeting of the whole church for final decisions to be made. The Trustees/Elders of Sherwell United Church comprises: Minister-chairperson Church secretary Church treasurer Church Stewards All Appointed representatives of the church with a minimum of 8 Trustees/ Elders. OBJECTIVES AN D ACTIVITIES Sherwell United Church- Mission Statement: To Reach up, To reach Out and to Reach in with hope and love Sherwell United Church- Vision Statement To be a church where all people feel supported in every area of their lives and to be seen a5 relevant by those it serves. We are a community of believers who have a heart for God and are living with the purpose of sharing that God with others. ACHIEVEMENTS AND PERFORMANCE This year as been very busy with new thing happening with the church. Warm Welcome Wednesday has been a great success and we cater for 20-32 people for lunch. There is a good mixture of people who come into the church for this outreach. We have continued to welcome into membership people from Trinity United Reform Church who have decided to settle at Sherwell and our average Sunday attendance is 55-60. Our lettings have increased over the year, with other churches using our building as well as people hiring for parties and events. Our location means that we also get the university hiring the building when they don't have enough room themselves. Page 2
Sherwell United Church, Plymouth & Devonport circuit Trustees report continued- year ending August 2024 FINANCIAL REVIEW Sherwell has a current account with CAF bank. Despite increases in utilities we are managing to keep our heads above water. The book keeper helps us stay on track although unexpected expenses do occur especially with a listed building. Unfortunately this year has seem some structural failings of the building so there needs to be some major work done. A surveyor has sent a report and we await costings so that we can apply for grants to help with this expense. RESERVES POLICY Sherwell United Church reserve policy is to hold one years annual expenditure in reserve. INVESTMENT Shenmell United Church has a current bank account with CAF Bank Ltd, it has an account with the central Finance Board and Trust funds with TMCP and the URC. OTHER POLICIES The Trustees, regularly review risk assessment policy along with evacuation procedure and health and safety policy. A fire risk assessment has taken place and we will be looking at a Legionella assessment this year. FUTURE DEVELOPMENTS The church has been used more in the last year for mission work, with 'silent worship, discos. Also Immersion, which is a 360 degree visual area where films are projected, with coffee and discussion afterwards Approved by the Trustees and signed on their behalf Rev Alistair Lowe Minister Page 3
Re ort ol the Inde Adent Examiner to the TrusteÈs of the Shèrwèll United Church This report is on the Church Accountsforthe year ended 31 August 2024 which are set out on the following page5, carried out under Section 145 of the ChaEitie5 Act 2011. Res Ive res onsibllitles of rustees and examlner The tharity's trustee5 are responsible forthe preparation of the attounts. The Charity Trustees consider that an audit is not requirèd forthisyear under Section 144 of the Charitie5 Act 2011 (The CharitSes Actl and that an independent examlnatSon Is needed. It is rny responsibility to.. examine the account5 under sertion 145 of the Ch3ritiÈs At¢ follow the procedure5 laid down in the general directions given by the Char>ty Commlsslon under settlon 14515llbl of the CharitiesArt, and state whether pèrtieular matters have come to my attention Ba515 of the inde ndent examineT'5 re My examination was carried out ITr accordance with the general directions given by the Charty Commissrtsn. An examination includes a review of the accounting records kept by the charlty and a comparison of the accounts presented with those records. It also inclltdes conslderatlon of anv unusual items or disclosures in the financial statements. and seeking explanations from the trustees cOnr1n8 any such rHatters. The procedures undertakers do nDt provide all of the evidence that would be required in an audit ènd consequently no opinion is gwen as to whether the account5 present a "true and fair view" and the report is limited to those matter5 Set out in the statement below. In connectlon wlth my examlnatlon, no matter has corne to my attention= which gives me reasonable cause to believe that. in any material respert the reouirernents= to keep accounting records In accordance wlth section 130 of the Charitie5Att,' and to prepace accounts whlch 3ccord wlth the accounting records and to tomply with the accountin8 requ1ments of the CharitiesAct have not been met; or to whlch, In my oplnlon, attention should be drawn in order to enable a proper understanding of the financial statementsto be reached. Davld A Summers, Accountant 3 5herfard Crescent Elburton Plymouth PL9 80U David A Summcrs 29 January 202S Accwnlant aTrl TaXatm C¢n5U Of7•9117 2 9 JAN 2025 3 Sh•rtord Cv•5¢4rt EIrt pty1th PL9 8DU da¥Aaasthmets@vKgihrr*aja c
SHERWELL UNITED CHURCH RECEIPTS AND PAYMENTS ACCOUNTS FOR THE YEAR ENDED 31 August 2024 Registered Charity - Charity Registralion number 1173365
Sherwell Untted Church Receipts and Payments kGount for the yvar ended 31 August 2024 2023124 2022123 GENERAL RESTRICTED TOTAL TOTAL Note RECEIPTS Cc41ections not including Gift Aid Tax recovered under Gift Aid 22,330 3.742 22.330 3,742 26,072 3,619 100,464 7,825 1,064 1,205 618 140.867 17.641 4.572 22.213 2.380 91,460 7,144 612 11.138 595 135.542 26.072 1391 100,464 7.825 Donations Propety lettings Interest and Investment Income Fund Raising Other receipts Intemal Organisations Sub Total General Funds 228 1.205 618 140.021 Colledions for extemal organisalions TOTAL RECEIPTS 573 1,419 573 141.440 400 135.942 140,021 PAYMENTS Circuit assessmentlshare Methodist U.R.C. Property costs Church repairs and maintenance Caretaking and cleaning Insurance Utilities 41,011 1,925 41.011 1.925 45.771 2.100 10,605 8,137 6.530 13,478 17,345 27.950 8,137 6.530 13.478 32,783 7.129 5,829 10,700 38.750 Adminlstrallon 10 21,003 21.IJ03 16.036 Donations - Methodist Donations - Olher 13 14 490 490 490 17,896 Other payments Intemal Qrganisations 15 211 18.107 545 139.176 14.663 154839 15.738 571 136.657 2,202 138,859 121,075 1,252 122,327 18,101 13,411 31,512 Capital Expenditure Sub Total General Funds Collections passed onto extemal organisations 573 513 400 TOTALPAYMEtrirs 122,327 31085 154.412 139,259 Net Income (expendlture) for the year Transfers btheen funds G8inlLr)88 on reali8ation of investments Total funds in hand at 1st September 2023 17,694 18 40.666 -12.972 -3,317 50,596 83,248 42,069 125.317 78,038 TOTAL FUNDS IN HAND AT 31 August 2024 100,960 112.345 125,317
Sherwell United Church Notes to Flnanclal Statements to 31 August 2024 1 Basis of preparation of financial statements These financial statements have been prepared on the historical cost receipts & payments basis of accounting- In accordance with Statement of Recommend Practice (SORP2005) and Charities Act 2011 and Ihe aCUntIng regulations of Ihe Methodist Churth. Funds The Funds held Gonstilute: General Funds held for any purpDse of the Church which are unrestricted, Restricted funds which are held for held for a narrower purpose. Details of retricted funds are set out in note 15. Accounting Policies Income Exponditure Income is induded in these accounls when received. Expenditure is recognised vthen paid. The Church aims to keep reserves amounting to one years runnlng costs. 2024 Totsl 2023 Total 2 Offortory GOIra1 Restricted General Restricted Collectlons Standlng orders Gift day 9,595 12,735 9,595 12,735 7,676 9,134 831 7,676 9.134 831 22.330 17,641 17,641 3 Donations General Restiicted Totsl General Restricted Total Leg8CIOS General 2.050 330 2,050 330 3,391 228 3,619 3,391 228 3,619 2,380 2,380 4 Rents Genprnl Restricted Total General Reslri(aed Total Room hire Ri)oms lease(I Car park North Road 44,751 12,252 2,940 40,521 100.464 44,751 12,252 41,739 6,250 7,8S5 35,606 91,460 41,739 6,250 7,865 35.606 91,460 40,521 100,464 S Investment income General Restricted Total General Restricted Total Trust Income Dep)sit account 2,301 5,524 50,596 52.897 5,524 3,431 3,713 3.431 3,713 50,596 58.421 7,144 7,144 6 Fund ralslng General Restrf¢ted General RestrFcted Total Sate of 8ooks Coffee 310 754 310 754 332 332 280 1,064 1.064 612 612
Shorwell Unlted Church Notss to Flnancial Statements to 31 August 2024 2024 Total 2023 Total 7 Other receipts General Restricted General Restricted Insurance clam Grant inrxjme Funeral fees 11,138 11.138 1,000 205 1,000 205 1,205 1.205 11,138 11,138 8 Internal Organisations Openlng Balance Transfor to Church Closing Balance Recolved Pald Card Stall Flower Ministy 46 26 18 600 -18 46 81 $45 618 545 -18 127 9 Collectlons for External Oryan15atlons Openlng Belance Trnnsfer to Church Ck•slng Balancè Received Paid Children's Society Christian 132 132 441 573 573 10 Admlnlstration Generdl Restricted Total General Restricted Total Salaries Cknl(xl Assistan Bookkeeping Travel Expenses Professional F9 Cost of Church Sep4iC8S Stationery& Printing Tel8phone Postsge Muslc Legal fees Mlscellanews Bank Charges Training 7,850 2.280 3,555 208 396 7.850 2.280 5,775 1.800 4,652 580 465 913 619 16 813 5,775 1.800 4,652 208 396 980 465 913 619 16 813 699 3,360 392 61 540 699 3,360 392 343 60 343 540 21,003 21,003 16.036 16.036 2024 2023 11 Employees The church had an average of 2 part time employees (0.2 of full time) during the year (2023: 1). Totsj emoluments were: Salaries (included in Cleaning) Salaries (included In Clerical Assistance) 971 3.684 3,822 EmployErfs Nallonal Insurance Employers Pension Contributions 3,822 The church has a defined contribution penslon scheme. No contributlons were made in the year
Sherw811 United Church Notes to Financial Statements to 31 Augugt 2024 12 Payment5 to trustee5 During the year. one trustee provided services to the charliy for whlch they reIVed remuneration. This amounts to £4.148 included in Administration. 2024 Total 2023 Totsl 13 Donatlons General Restiictod General Restricted Methodist Charities 14 Donatlons Other Charftles Church of England Children's So 490 490 490 490 15 Other Payment3 Expenses N(Yth Road Calering Outreach expenses Benevolent fund expenditure 16.667 473 756 16,667 473 756 15,424 314 15.424 314 211 17.896 211 15,738 15,738 16 Restrfcled Funds Balanc8 at 119123 Incon Exp8nditure Trnnsftts Balance at 3118124 Coldman Trust: Layworker 4,832 4,832 Other reslricted funds Sale of Manse 2 Sunday Sthool Music Organ Benevolent Total other 31,798 1506 485 30,756 1.042 2,506 1.143 1.250 6.426 1,233 37,165 228 228 211 30,967 Total R96tiicted Funds 41.997 228 30.967 11,258 17 Capitsl CommitmeTrts Capltal commitments £nll12023 £nil)
Sherwell Unlted Church Notes to FlnanGlal Statements to 31 August 2024 18 OTHER ASSETS A Ganeral Fund Tru818 TMCP Sundry Bequest 63,302 URC Generdl Trust Totsl Balance bfvd 27.997 91,299 Income received Additional deposit Change in value 2,007 862 2.869 4.574 432 97,600 27.717 Withdravm Expenses Income paid over to Church 180 2,688 94,732 1,826 67,877 862 26,855 The Church can use the capital and income of these trusts. The thurth received £2.688 in¢orne from these twsts last year. Restiicted Fund Trusts Trusts Totsl Reslrlcted Trusts Sah of Property Sale of Manse 2 Balance bl Income received Change in value(unrealised) 112,096 6,0 158.540 7,486 -1.894 164132 1.430 -1.894 45,9811 118,162 Transfer to Restrlcted funds Expenses Income paid over lo Churth 319 319 1,430 162,383 1.430 44,550 117833 The Methodist Church has decided that the saie of Propety Trust can in addition to major propffjl wrchase or repair now be used for personnel Gosts. The Sale of Manse Trusts arise from the sale of a URC Manse. The capital can be used for major Froperty repairs or replament of buildings. The ints)me can be used for general church purposes. 2024 2023 3 Fumiture. Organ & Other Equipment (8t insured value) 390,665 348,807 4 Property The property occupied by the churd) is vested in Untted Refonn Churth Trnstees The freehold propety 150 North Road East Is held for Investment purposes. its insur8d valu8 is-_ 586.126 837,323 The insured value of18ndlords ffttings is 34,677 33.263
Sherwell United Church Balance Sheet at 31 August 2024 2024 2023 Summary of Funds at 31 August 2024 Note General Restricted Total Total General fund 100.960 100.960 83,248 Restricted Funds CollectiDns not paid over Intemal Organisations 16 11,258 11,258 41.997 127 127 72 TOTAL FUNDS HELD 100,960 11,385 125,317 Summaryof how funds held Balances at Bank and in Hand Deposit accounts Current accounts Cash in hand 62,652 38.125 183 11,258 127 73.910 38.252 183 68.457 56,775 100,960 11,385 112,345 125.317 TOTAL FUNDS HELD 1011960 Id,385 112.345 125,317 Mrs J Mortimore. Treasurer Approved by the Church Council on