2023-08-31-accounts - Lambeth Circuit Methodist Church

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Principal	address	Clapham Methodist	Church
		Nelson's Row
		London SW4 7JR
Bankers-		HSBC Plc
		Wimbledon Hill Road
		Wimbledon
		London. SW197NF
		CENTRAL FINANCE BOARD
		9,Bonhill Street,
		London. EC2A 4PE
		CAF Bank Limited
		25 Kings Hill Avenue
		Kins Hill
		West Mailing
		Kent ME194JQ
Auditors		Adomako Basoah 8c,Co,
		45 Tindale Close
		Sanderstead
		Surrey. CR2 ORQ

District Chair	District Chair			Revd Nigel Cowgill
Superintendent		Minister		Revd Andrew Dart
Acting Circuit	Superintendent Ministers		Minister	Revd Dr Andrew Lyons Revd Kristin Markay
				Revd Lena Ali
				Revd Rita King
Minister resident		in the	Circuit	Revd Andrew Goodhead
Supernumerary		residing	in Circuit	Revd Gordon Ashworth
				Revd Graham Thomas
				Revd Dani Wright
Circuit Stewards				Nancy Acquaah
				Alice Achola-Omara
				Daniel Sackey
				Christine Armor
				Victoria Odofin
				Abigail Tagoe
				Comfort Babawale
				Elizabeth Oyeledun
				Vivian Korley
				Raymonde Chintoh
				Patience Oluwa
				Clement Cofie
				Nana Dormon
Circuit Treasurer				Kojo Amoah-Arko
Assistant	Treasurer			Opuwale Lawson
Circuit Meeting Secretary				Arabella Hyde
Local Preachers' Secretary				Elizabeth Oyeledun
Property	Group Co-Ordinator			Robert Smyth
Safeguarding Co-Ordinator				Sandra Taylor
Young Peoples' Representative				Janet Oppong/Danielle	Young	page 3

Streatham	Streatham	Pat Ashworth
		Carl Opare-Addo
		Tina Rawlings
		Jacob Arkaah
Tulse Hill		Christine Armor
		Kwadwo Asamoah-Boadu
		Emmanuel Bentsi-Abban
		Carman Garnet Rose
		Agnes Baiden
		Trevor Hyde
Brixton	Hill	Kathy Rennalls
		Janet Oppong
		Robert Smyth
		Enley Taylor
		Nike Musa
		Eva Kyei
		Kofi Kyei
Mostyn	Road	Akuba Forson
		Nana Dormon
		Francisca Gaspar
Railton	Road	Comfort Babawale
		Temitope Tayo
		Jennifer Davis
		Andy Kalamuso
Clapham		Solomon Quaye
		Dorothy Blincoe
		Antonia Buamah
		Sharon Bryan
		Regina Carrena
		Ola Fadugba
		Fiona Owuru
Stockwell		Rebecca Ekang
		Leticia Quayson
		Alice Aduku
		Nathaniel Beury
		Lorna Simpson	page 4

STATEMENT OF FINANCIAL ACTIYITIES FOR THE YEAR	STATEMENT OF FINANCIAL ACTIYITIES FOR THE YEAR	STATEMENT OF FINANCIAL ACTIYITIES FOR THE YEAR	ENDED 31AUGUST	ENDED 31AUGUST	ENDED 31AUGUST	2023
		Note	Unrestricted		Restricted		Tote I	2022
INCOMING RESOURCES				f	f
Charitable Activities		3.1		258,360		0	258,360	289,080
Investment income		3.2		173,348		150	173,498	105,364
Otherlncorne									859
				1~237 669		150	1237819	395	303
RESOURCES EXPENDED
Expenditure on Raising Funds		4.1.4		155,664		5	155,669	116,206
Expenditure on Charitable	Activities	4.2.3		538,554		8	538,562	504,372
Others		4.3		~175703		0	175703	35	147
TOTAL RESOURCES USED						13	869 934	655	725
NET INCOME/ ( DEFICIT ) FOR THE YEAR Before Recognised				Gains
				367,748		137	367,R85	(260,422)
BALANCE BROUGHT FORWARD				10,955,157		7,188	10,952,505	11180	927
BALANCE CARRIED FORWARD			11,323,10$		7,285		11,350,590	10310	505

LAMBETH CIRCUIT BALANCE SMEET AS A	METHODIS T 31AUGU	T CHUR ST 2023	CH	CH
FIXEDASSETS			unrestricted Restricted		T0T A L		2022
		Note
Tangible Fixed Assets Investments		6.1 6.2	5,550,000 3,420,000		0 0	5,550,000 3,420,000	5,550,000 3,420,000
Total Fixed Assets			8,970,000		0	5970,000	8970,000
CURRENT ASSETS
Investments		7	'I,8 I0, 185		0	1,810,185	1,496,112
Debtors		9	396,743		0	396,743	300,060
Bank and cash balances		10	188 859	7285		'I911188	242,421
			2,395,787	7,285		2,403,072	2,038,593
CREDITORS: Amounts	falling
due within one year			~42 682			42682	~88088
TOTAL NET CURRENT	ASSETS		2 353105	7285		2300390	1,950,505
TOTAL ASSETS LESS	CURRENT
LIABILITIES			11323105	7285		11 330 390	10,920,505
FUNDS		12
Restricted Funds		12.1	0	7,285		7,285	7,148
Unrestricted Funds		12.2	11323 105		0	11323 105	10913357
			11323105	7 285		11330390	10920505

FLOWS FROM OPERATING ACTIVITIES	FLOWS FROM OPERATING ACTIVITIES	FLOWS FROM OPERATING ACTIVITIES	FLOWS FROM OPERATING ACTIVITIES
Net Operating Income					367,885
ADJUSTMENT FOR:
Interest Receivable and Similar			income		-62,944
Non- Monetary income
Doubtful debts provision			no longer	required	-14,208
PRIOR YEAR ADJUSTMENT					42,000
CHANGES IN:
T IVI C P Trusts					-314,073
Debtors					-82,475
Creditors					-45 aftg
CASH GENERATED FROM OPERATIONS					-109221
Interest Received					62 644
NET CASH FROM OPERATING		ACTIVITIES			-46277
Cash and Cash Equivalent	at the		beginning	ofthe year	242 421
Cash and Cash Equivalent	at the		end ofthe	year	196144
RECONCILAITION OF CLOSING CASH BALANCES
HSBC BANK					29,268
CENTRAL FINANCE		BOARD			157,044
CFA BANK					9,832
					196,144

NOTES TO THE FINANCIAL STATEMENTS 3 INCOMING RESOURCES	NOTES TO THE FINANCIAL STATEMENTS 3 INCOMING RESOURCES	NOTES TO THE FINANCIAL STATEMENTS 3 INCOMING RESOURCES	FOR	THE YEAR ENDED 31,AUGUST 2023	THE YEAR ENDED 31,AUGUST 2023	THE YEAR ENDED 31,AUGUST 2023	( Continued )	( Continued )
3,1 Charitabfe Activities income								2 0	2	2
				Unrestricted	Restricted	TOTAL		Unrestricte	Restricted	Total
				Funds	Funds		Fund	I und	Fund	Fund
							2023			2022
Circuit assessments 3.2 Investment income				V 258,360	0		E 258,360	E 289,080		E 289,080
	Central Finance Board Interest TMCP Interest Rental Income			5,676 57,118 110,554	0 150 0		5,676 57,268 110554	581 7,761 97 000	22	581 7,783 9~7000
3.3Other income				173,348	150	173,498		105,342	22	105,364
	Sale of Lambeth Mission Others	Property		804.916 ~1045			804916 1045	0 859		859
4 RESOURCES EXPENDED				905955			805961	859		959
4.1 EXPENDITURE ON RAISING FUNDS
4.1.1	DIRECT SPENDING
	Properties Repairs and Maintenance Rent Collection Insurance Legal Fees Professional fees Quinaquina Report Council Tax, Light and Heat			114,298 1,579 2,357 0 17,527 2,150 6956	0 0 0 0 0 0 Q		114,298 1,579 2,357 0 17,527 2150 6956	90,553 6,360 2,012 800 2,640 0 2138	0 0 0 0 0 0 0	90,553 6,360 2012 800 2640 0 2138
4.1.2	SUPPORT FOR EXPENDITURE TO			~144867 RAISE FUNDS	0	144867		~104503	0	~104503
	Governance costs
	Audit Fees Accountancy Fees Book-keeping charges Legal Fees Bank Charges T M C P Charges			1,68T 964 1,229 771 122 ~1703			1,687 964 1,229 771 122 1 T08	1,122 641 1,632 0 64 ~15'l1	0 0 0 0 0 4	1,122 641 1632 0 64 1515
4.1.3	OTHERS			~6476			~6481	~4970	4	4~974
	Telephone Post, Print and Stationery Sundry Expenses Subscription Staff Training IT and Website Expenses			1,309 1,361 793 611 0 247	0 0 0 0 0 0		1309 1,361 793 611 0 247	922 1,367 3,080 826 107 427	0 0 0 0 0 0	922 1367 3,080 826 107 427
4.1.4	SUMMARY OF EXPENDITURE		4~321 ON RAISING FUNDS		0		4~321	6~729	0	~6729
	Direct Spending Support for raising funds			144,867	0	144,867		104,503	0	104,503
	Governance Others			6,476 4321	5 0		6.481 4 321	4,970 6 729	4 0	4,974 6729
				~155664	5	~155 69		116202	4	116206

LAMBET	H CIRCUIT METHODIST CHURCH	H CIRCUIT METHODIST CHURCH	H CIRCUIT METHODIST CHURCH	H CIRCUIT METHODIST CHURCH	H CIRCUIT METHODIST CHURCH	H CIRCUIT METHODIST CHURCH
NOTES TO	THE FINANCIAL STATEMENTS FOR THE YEAR						ENDED 31,AUGUST 2023		( Continued		)
										2	0	2	2
							Unrestricted	Restricted	Total	Jnrestricted		Restricted	Total
							Funds	Funds	2023		Funds	Funds	2022
								E
4.2 EXPENDITURE ON CHARITABLE ACTIVITIES
4.2.1	DIRECT SPENDING
	District Assessment						75,412		75,412		65,248		65,248
	Stipends, Pension	and		NIC			150,636		150,636		204,375		204,375
	Salaries and NIC						32,354		32,354		26,091		26,091
	Circuit Administration						5,426		5,426		6,369		8,369
	Ministers' travelling		expenses				3741		3741		2 503		2503
							267 569		267569		306586		306586
4.2.2	SUPPORT FOR CHARITABLE
	ACTIVITIES
4.2.2.1	Premises Expenses
	Repairs to Manses						113,528		113,528		3,269		3,269
	Manses Utilities						18,559		18,559		12,918		12,918
	Quinaquina Report						8,b12		8,512		2,340		2,340
	Insurance						6968		6968		6692		6692
							147567		~147567		25 2'I9		25 219
4.2,2,2	Governance costs
	Audit Faas						2,513		2,513		3,078		3078
	Accountancy Fees						1,436		1,436		1,759		1,759
	Book-Keeping Charges						1,829		1,829		4,476		4,476
	TMCP Charges						2,536		2,544		4,147		4,156
	Bank Charges						182		182		177		177
	Legal Fees						1 149		1 149		~3600		~3600
							~9645		9653		17237		17246
4.2.2.3	Others
	DAF Contribution						100,206		100,206	138,077			138,077
	Telephone						1,950		1,950		2,531		2,531
	Post, Print and Stationery						2,026		2,026		3,750		3,750
	Youth Expenses						7,334		7,334		4,260		4,260
	Ascension Trust Project						920		920		5,520		5520
Apprenticeship levy							1 337		1337		~1183		1183
							~113773		113773	155321			~15 321
4.2.3	SUMMARY OF EXPENDITURE					ON CHARITABLE ACTIVITIES
	Direct Spending						267,569	0	267,569	306,585			306,586
Support for charitable				activities
	Premises		Expenses				147,567		147,567		25,219		25,219
	Governance						9,645		9,653		17,237		17,246
	Others						~11377		113773	155321			~156321
							538554		538562	~504363			5~04 372
4.3 OTHER
Sundry Expenses							1,181		1,181		8,452		8,452
Subscription							911		911		2,267		2267
Payroll Costs							0		0		960		960
Staff Training							0		0		295		295
IT and Website Expenses							368		368		1,173		1173
	Lambeth Mission Redevelopment						187,348	187,348			0		0
Bad Debts							0		0		22,000		22,000
Gleaning							103		103		0		0
Doubtful Debts Provision					no longer required		-14208		-14208		0		0
Total Other expenditure							175703	175703			36147		35 147
													page 20

AR AD	JUSTM	ENT
							2023	2022
Under	stated	Rental	Income	in	prior	years	4~1000

6. FIXED ASSETS
6.1TANGIBLE FIXED ASSETS						Freehold
						Land &
						Buildings
COST OR VALUATION						f
As at 1September 2022 and 31,August		2023				5,550,000
DEPRECIATION
As at 1September 2022 and 31August		2023
NET BOOK VALUE
As at 31August 2023						5,550,000
As at 31August 2022						5,550,000
6.2 FIXED ASSETS INVESTMENTS
COST OR VALUATION						Freehold
						Land 8
						Buildings
						f
As at 1September 2022 and 31,August		2023				3,420,000
NET BOOK VALUE
As at 31August 2023						3,420,000
As at 31August 2022						3,420,000
No depreciation has been provided	in respect of		tangible	fixed	assets for the year as the
trustees are ofthe opinion that the	maintenance		programrnes		to which these properties		are
subjected to ensures that the estimated		residual	values	are not less than the stated values.
7.INVESTMENTS				2023		2022
The following funds are held by TMCP on behalf			of	f
the Circuit
Sale of Property -Trust 15175				23,075		22,420
De-Rourcier Bequest - Trust 8976				4,322		4,322
De-Bourcier Bequests - 8976A				3,205		3,114
De-Bourcier Bequests —8976B				12,298		11,948
Bernard Searle Bequest- Trust 17694				1,605		1,559
Circuit Model Trust -Trust 22136			1,765,680			1,452,749
			1,810,185			1,496,112

8.INCOME FROM	MA	TERI	AI. INVESTM	ENT HOLDINGS
				market value	Income for
				at 31/08/23	the year
				f	f
Investment		Property		3,420,000	110,554
Investment		with	TMCP		57268
TOTAL				5 220 185	157822
9.DEBTORS
				2023	2022
					f
Circuit Assessments	from churches			302,490	251,658
Due from other Methodist			Circuit	72,056	18,518
Rent Debtor				0	3,500
Sundry Debtors				6,115	4,670
Prepayments				16,082	21,714
				396,743	300,060

			2023	2022
				f
HSBC	Current	Account	29,268	91,155
CAF			9,832	5,913
CFB			157,044	145,353
			196,144	242,421

			2023	2022
			f	f
11.CREDITORS: Amounts fallin Rent Received in Advance Due to other Methodist Church Sundry Creditors Accruals and other Creditors	due within one	ear	6,636 29,445 6,600	4,219 60,000 13,402 10,467
			42,681	88,088

subsequently carried at amortised impairment. 12.FUNDS	co	st	using	the ef	f	ective	interest	me	thod,	less	any
12.1 RESTRICTED FUNDS							2023 f		2022 f
Balance Brought Forward		01/09/2021					7,148		7,139
Incoming Resources							150
Resources Expended							-13
Balance Carried Forward 31/08/2022							~7285		~7148
12.1.2 DETAILED RF5TRICTED FUNDS
						2	0	2	2
Ministeria	Benevoler			TOTAL		Ministerial		Benevolent			Total
Training f	Fund	f		2023 f		Training f		f Fund				2022 f
Bal. Brought Forwar( 4,043		3,105		7,148			4,037		3,102				7,139
Receipts 100			50		150		15						22
Payments						-13							-13
Bal. Carried Forward 4134		3	151	7	285		4043		3	105			7 148
The IVlinisteriai Training fund is	set up		to provide training				and development			for	local	preachers
in the Circuit

12.2 UNRESTRICTED FUNDS
	2023		2022
	E
Balance Brought Forward	10,913,357
Prior-Year Adjustment	~42 000 10955 357	10,955,357	11,173,788
Incoming Resources		1,237,669	395,281
Resources Expended			-655 712
BALANCE CARRIED FORWARD		11323105	10913357

13DETAILS OF C	ERT	AIN ITEMS OF	EXPEND	ITURE
				2023	2022		2022
				F	f
		Audit Fees		4,200	4,200		4,200
		Accountancy	Fees	2 400	2400		2 400
				6,600	6,600		67600
14.PAID EMPLOYEES
				2023	2022	2022
				E	f	E
Salaries, Employers Pension Contribution And Employers National Insurance				3Z,354	26,091		26,091
Average number	of	employees

15.2 TRAN	SACTIONS WITH RE	LATED PARTIES
During the	year, four Ministers	who are also Trustees received stipends	and expenses,
		2023	2022
Stipends		150,636	204,375
Reimbursed	Expenses	3,741	2,503

19.APPORTIONMENT	OF SUPPORT	OF SUPPORT	COSTS AMONGST	COSTS AMONGST	COSTS AMONGST	ACTIVITIES.
						2 0	2	2
	Charitable	Expenditur			Total	Charitable	Expenditure	Total
	Activities	o raise		funds		Activities	to raise funds
GOVERNANCF.
	f		f			f	f
Audit	2,513		1,687		4,200	3,078	1,122		4,200
Accountancy	1,436			964	2,400	1,759	641		2,400
Book-keeping charges	1,829		1,229		3,058	4,476	1,632		6,108
Bank charges	182			122	304	177	64		241
Legal Fees	1,149			771	1,920	3,600			3,600
T M C P Charges	2 544		1	708	4 252	4 147			5 662
	9 653		6	481	16134	~17237	~4974		~22 211
OTHERS
	f			f	f	f	F
Telephone	1,950		1,309		3,259	2,531	922		3,453
Post, Print and stations	2,026		1,361		3,387	3,750	1,367		5,117
Sundry Expenses	1,181			793	1,974	8,452	3,080		11,532
Subscription	911			611	1,522	2,267	826		3,093
Staff training					0	295	107		402
ITand Website costs	368			247	615	1173	427		1600
	6466	6	4621		~10757	~18468	~6729		~25 197