STOKE NEWINGTON METHODIST CHURCH Charity Registration Number: 1185026 TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022
sroKE NEWINGTON MEfHODIST CHURCH TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022 CONTENTS PAGE Reference and admlnistratlve detalls Trustees report Statement of Trustees, responslbllltles Independent Examlner's report 9-10 Statement of Flnanclal Activltles li Balance sheet 12 Notes to the accounts 13-19 Page I
STOKE NEWINGTON MeTHODIsf CHURCH REFERENCE AND ADMINIStRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2022 The address of the registered offlce of the Stoke Newlngton Methodist Church for the Charities and any other legislation Is: Stoke Newington Methodist Church 106 Stoke Newington High Street London N16 7NY Tel: 02072541488 Web: www.hackneymethodist.org Senlor management team Rev Andrew Letby Rev Paulo Bassa Da Sllva Investment managers: Central Flnance Board of Methodlst Church 9 Bonhlll Street London EC2A 4PE Bankers: TSB Bank 539 Hlgh Road Tottenham London N17 6SD CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4QJ Independent examlner: Aklntayo Ojo FCCA Resource Accountancy Pract0 knmited Chartered Certifled Accountant 46 Hollywood Way Erith DA82QE Page 2
STOKE NEWINGTON MEfHODIsf CHURCH REPORT OF THE TRUSTEES FOR YEAR ENDED 31 AUGU 2022 The Trustees present thelr report and the examlned accounts of the Stoke Newington Methodist Church for the year ended 31 August 2022. The Trustees have adopted the provision5 of the statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities. (FRS 102) In preparlng the annual report and accounts of the Charity. The accounts have been prepared In accordan wlth the accountlng pollcles set out In note I to the accounts and comply with the Charity's goveming document, the Charitles Act 2011 and Accounting and Reportlng by Charltles: Statement of Recommended Practice applicable to Charities preparing thelr accounts in accordance wlth the Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) Governance The governlng body of the Methodlst ChLJrch Is the Methodist Conference, which meets annually. The authorlty under which the Conference Acts Is given by Methodist Church Act 1976. We are governed by the Methodlst Churches Conststutional Prartice and Discipline and all Charlty Law of the United Klngdom. The Church Is govemed by the Methodist Church Art 1976, the deed of Unlon and the Model Trusts of the Methodist Church are and shall be deemed to have been slnce the date of union of advancement of: (a) the Chrlstlan falth In accordance to the dortrlnal standards and dlsclpllne of the Methodist Church (b) any charitable purpose for the tlme belng of any Connexlonal Distrlct, Circuit, local of other organisatlon of the Methodist Church (c) any charltable purpose for the time being In any society or Instltutlon or subsidiary or anclllary to the Methodist Church. In setting our objectlves and plannlng our actlvlties, the charlty has given careful conslderatlon to the Charity Commlsslon's guidance on public beneflt and In partlcular to Its supplementary publlc beneflt guldance on advanclng our obJectSves as set above. The Stoke Newington Methodist Church Is a part of the Hackney and Stoke Newlngton Methodist Clrcult, and is registered wlth the Charlty Commission with the number 1185026. Full Name of Charity: Stoke Newlngton Methodlst Church Charlty Registratlon Number: 1185026 Date of Registratlon: 27 August 2019 Maln Communication Address: Stoke Newington Methodist Church 106 Stoke Newington High Street London N16 7NY Page 3
STOKE NEWINGTON MEfHODIST CHURCH REPORT OF TrIE TRusfEES (continued) FOR THE YEAR ENDED 31 AUGUST 2022 Trustees The full Ilst of Trustees who served during the reportlng year of the accounts were as follows: The trustees who Joined or reslgned during the year have the date of appointment or reslgnation stated beside thelr names Rev Andrew Letby Rev Paulo Bessa Da Silva Esther Adekunle Lola Bello Clord Dyer Rosaline Lall Laura Dyer Roland Hogan - reslgned 01.09.21 Mary Campbell Ellzabeth Aggrey Ekow Egyir Alexandra Weekes Aggrey - appolnted 03.07.22 Ollve Johnson Cora Woolcock Erlc Ayoola Joy Bello Mary Browne Methods of appolntment or electlon of Trustees The management of the charity is the responsibility of the Trustees who a elected and co-opted under the terms of Its governlng documents and in line wlth the Methodlst Church. Oryanlsatlonal Strurture and d•clslon-m•klng pollcles The Charlty Is organised so that the Trustees meet regularly to manage the affalrs of the Charlty. A Mlnlster manages the day to day admlnistratlon of the church with the support of the Church stewards and an Operatlons Manager. Poll¢les adopted for the Inductlon and tralnlng of Trustees Most Trustees are already familiar with the activities of the Charity as they are drawn from members who have the sklll set to offer and empathlse with our core values. Newly elected Trustees are encouraged to attend training. Objectlve and purpose The calling of the Stoke Newington Methodist Church is to respond to the gospel of God's love In Chrlst and to live out its dlsclpleship in worship and mission. This 15 expressed through Worship, Learnlng and carlng, Evangelism and Service. The Church Is committed to Use its resources in clearly focussed and Intentional way to ensu an effective response to the needs of our congregations and wlder community. Actlvltles The mission of the Church is to worship God as it lebrateS its diversity according to the teachings of Jesus Christ. Through soclal ministry, prayer and pastoral care we will express God's kingdom of love. Page 4
STOKE NEWINGTON METHODIST CHURCH REPORT OF THE TRusfEES FOR YEAR ENDED 31 AUGUST 2022 Actlvltles Both church congregations have continued to meet regularly for worship on Sunday5, combining for some services including communions. The Hackney and Stoke Newlngton Methodist Clrcult have also contlnued online worship on Sundays, and also online weekly prayers. The Listenlng Place has been runnlng throughout the year on Tuesdays at High Street and on Wednesdays at Green Lanes, with a number of volunteers serving drinks and light refreshments for our vlsltors, who have been growing in number. This has been coordinated by Rev Paulo Bessa Da Silva and some volunteers. A Brazllian congregation meets monthly for worshlp and fellowshlp at Hlgh Street, led by Rev Paulo Bessa Da Sllva and other Brazlllan ministers and friends. There are actlve nurserles running at both church sites, and other Indlvlduals and groups have hired rooms at the churches. The charlty contlnues to fund an Operatlons Manager who works across the two sltes. Achl¢v•ment8 and performance The church malntalned worship at both sltes durlng the yearand contlnue to share fellowshlptogether. The Llstenlng Place has reached an Increasing number of people from our local community. The hlrlng rooms has Increased during the year in report. Dlstrlbutlng of hot meals to the homeless and to low Income families which takes place In partnershlp wlth Falth Clty Church on the last Monday of every month. Investments The Investments of surplus funds Is operated vla Central Finance Board (CF8) of the Methodist Church. CFB aims to provlde hlgh quality Investment service seeklng above average returns for long term Investors, whilst ensurlng that the securltles held by all Its funds a In Ilne with the ethical pollcy of the Methodlst Church. The Church has its funds In a deposlt account wlth CFB. Public ben•flt requlrement The trustees have due regard to the guldance published by the Charltles Commisslon in compllance wlth its dutles under section 4 of the Charities Act 2011. This guidance sets out two key prlnclples: l. The organisation must have an identifiable beneflt. 2. The beneflt must be to the publlc or a section of the publlc. The Church exlsts to: Increase awareness of God's presen and to celebrate God's love; help people to learn and grow as Christians, through mutual support and ca. and be a good nelghbour to people in need and challenge injustice. The Trustees consider that for these reasons the charity meets these public benefit requirements. Page S
sroKE NEWINGTON METHODIsf CHURCH REPORT OF THE TRUSTEES FOR YEAR ENDED 31 AUGUST 2022 Flnancial revlew Stoke Newington Methodist Church is funded to a large extent by a day nursery on each church slte. There is a flat which brings in a monthly rental and also other hirers from the communlty make regular and one-off use of the premises. Income is also 1Ved through the offering from the congregatlon. The varlous propertles are funded from their Sncome on a day to day basis. The value of the charity's funds as at 31 August 2022 was £3,628,968. (2021 Is £66,735). Trustees, Interests The ministers who are Trustees of the charlty are pald a stlpend from the circult and are glven a manse for the mlnisters and their family to Ilve. The councll tax and also an official telephone Ilne wlth broadband facilities to enable them carry out their services as ministers a pald by the clrcult. These arrangements are practiced through the Connexion. Apart from these, no other Trustees have been pald for their serrflces to the Charity. Rlsk management The charity has reviewed Its rlsk pollcles and Is produclng a Risk Reglster hlghllghtlng the various r15ks faclng the charltyi the Impact and the likellho¢)d of them happening. The main headlngs under whlch these rlsks have been categorised are: Trustees, Responslblllties Membershlp and mlsslon Resources, people and property Flnance Legal These risks are revlewed regularly to ensure effectlveness. Reserve$ pollcy The Charity Is in the process of creatlng a reseprfes policy which will be brought to the Trustees for approval. The primary purposes of the charity are: (i) to carry out the objectives of the Methodlst Church as reported above. (11) to support the work of the ministers, lay employees. charity officers and Church members In their various responslbllities In relation to the charity's overall mission. Page 6
sroKE NEWINGTON MEfHODIST CHURCH REPORT OF THE TRUSTEES FOR YEAR ENDED 31 AUGUST 2022 RESERVES POLICY The reserves policy in connection wlth this purpose will seek to maintain sufflclent funds to ensure the payments of the Circuit assessment and lay employee's salary, and to meet the needs of the rL¢nning costs of the church, for a given period of time. The unrestricted funds are for the purpose of the Charlty. PLANS FOR THE FUTURE The charity wlll continue to meet for In person worshlp on Its two sites, and also contlnue and develop The Llstening Place under the co-ordination of Rev Paulo Bess Da Sllva. We also plan,. To have a weekly prayer meeting durlng the working hours of The Ilstenlng place at Hlgh Street. To provide a 'Warm Spa, ( openln9 The Llstenlng pla for extended hours durlng the winter months). To have a Christmas Party for the vlsltors to The Llstenlng Place. There are plans to forni a Brazilian congregation who wlll meet for worshlp and fellowship at Stoke Newlngton High Street In the comlng months led by Rev Paulo Bessa Da Sllva and other Brazlllan mlnlsters and friends Approved by the trustees on and slgned on thelr behalf by: Mr Clord Dyer Trustee Rev Paulo Bessa Da Sllva Tru•t•e Page 7
STOKE NEWINGTON MEfHODIsf CHURCH STATEMENT OF TRUfftES RESPONSIBILrriES FOR YEAR ENDED 31 AUGUST 2022 statement of Trustees. responslblllty The Trustees are responsible for pparIng the Trustee's Reports and Financial Statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Charity law applicable in Unlted Klngdom requires the Trustees to prepare flnanclal accounts for each flnanclal year, whlch glve a true and fair vlew of the state of affairs of the Charlty's financial activitles during the year and of its flnanclal posltlon at the end of the year. In pparIng these accounts, the Trustees are requlred to: Select suitable accounting pollcles and apply them conslstently; Observe the methods and prlnciple5 in the Charities SORP; Make Judgement and estimates that are reasonable and prudent. state whether appllcable accountlng standards have been followed subject to any material departure disclosed and explalned in the accounts, and Prepare the flnanclal statements on a golng concern basls unless It Is Inapproprlate to presume that the charlty wlll contlnue In operation. The Trustees are responslble for keeplng proper accountlng record5 that dlsclose wlth reasonable accuracy at any tlme the flnanclal posltion of the charlty to enable them to ensure that the accounts comply wlth the Standlng Orders of the Methodist Church, the Charities Act 2011, The Charlty {Accounts and Reports) Regulations 2008 and other gUlatiOns. They are also responslble for 5afeguardlng the assets of the charlty and for taking reasonable steps for the prevention and detectlon of fraud and other Irregularlties. Approved the trustees on and signed on thelr behalf by: Mr Clord Dyer Trustee Rev Paulo Bessa Da Silva Trustse Page 8
sroKE NEWINGTON MEfHODisf CHURCH INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 AUGUS[ 2022 Independent examiner's report to the Trustees of Stoke Newlngton Methodlst Church ('the Charlty,) I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 August 2022 set In pages 11-19. Responslblllties and basis of report As the trustees of the Charity you are responslble for the preparation of the accounts In accordance with the requirements of Charltles Act 2011 ('the 2011 Act,). I report In respect of my examlnatlon of the Charlty's account carried out under sectlon 145 of the 2011 Act and In carrylng out my examlnatlon I have followed the applicable Dlrectlons given by the Charity Commlsslon under sectlon 145(5)(b) of the 2011 Att. Independent examlner's statement Your attentlon Is drawn to the fact that the Charlty has prepared the accounts In accordance wlth Accountlng and Reporting by Charitles: Statement of Recommended Practice appllcable to charltles preparlng thelr accounts in accordance with the Financial Reportlng Standard appllcable In the UK and Republic of Ireland (FRS 102) in preference to the Accountlng and Reporting by Charltles: Statement of Recommended Practlce issued on l Aprll 2005 whlch Is referred to In the extant regulations but has been wlthdrawn. I understand that this has been done In order for the accounts to provlde a true and falr vlew In accordance wlth the generally Accepted Accounting Prattice effective for reporting perlods beglnnlng on or after l January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection wllh the examination glvlng me cause to believe that in any materlal respect: l. accountlng records were not kept In respect of the Charity as required by sectlon 130 of the 2011 Act; or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the appllcable requlrements conceming the form and content of the accounts set out in the Charltles (Accounts and Reports) Regulatlons 2008 other than any requirement that the accounts give a 'true and falrf vlew which in not a matter consldered as part of an independent examination, accounting records were not kept In respett of the Charity as required by settion 130 of the 2011 Art. Page 9
STOKE NEWINGTON MEfHODIsf CHURCH INDEPENDENT EXAMINERS REPORT FOR YEAR ENDED 31 AUGUST 2022 Independent examlner's statement - contlnued I have no concern and have come across no other matters In connectlon with the examination to which attention should be drawn in order to enable a proper understandlng of the accounts to be reached. Thls report Is made solely to the Charity's Trustees, as a body in accordance wlth Part 4 of the Charitles (Accounts and Reports) Regulation 2008. My work has been undertaken so that I might state to the Charlty's Trustees those matters I am requlred to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charlty and the Charlty's Trustees as a body, for my work or for thls report. Aklntayo Ojo FCCA A••oclatlon of Chartered c•rtth Accountsnts Independent examlner Resource Accountancy Practlce Ltd 46 Hollywood Way Erlth DA8 2QE Dated: Page 10
STOKE NEWINGTON MEfHODIST CHURCH STATEMENT OF FINANCIAL ACTIvrrIES FOR YEAR ENDED 31 AUGUST 2022 Unr¢rtrlct•d Re•trlcted Funds Totsl Total Fund* Fund¥ Notes 2022 2022 2022 2021 Incomlng resources Church Offering & benevolence Rental income Donations Grant income and Interest 8,489 177,790 894 165 8,489 177,790 894 165 5,157 155,703 345 51 other income Total Incomlng resour$ 3,514,202 3,514,202 Resources expended Clrcult assessment 38,250 2,000 23,491 16,923 56,645 2,000 139,308 38,250 2,000 23,491 16,923 56,645 2,000 139,308 55,250 Grants and donatlons Stipend and staff cost Charlty costs Support costs Management and governance cost Total reUrCeS expended 15,956 5,443 56,477 3,118 136,244 io li Net{outgolng)Ilncoming resources for the year 3,562,232 3,562,232 25,012 Tota5 funds at the start of the year 66,736 66,736 41,724 Balance at the end of the year 3,628,968 3,628,968 66,736 The Statement of flnanclal activities Includes all gains and losses recognised in the year The notes on pages 13 to 19 fom part of the financlal statements Page 11
STOKE NEWINGTON MEfHODIsf CHURCH BALANCE SHE AS AT 31 AUGU 2022 Total Totsl Fund¥ Funtts Funds Fund• Notes 2022 2022 2022 2021 Flxed assets Tangible fixed assets 12 3,514,202 3,514,202 Current assets Debtors Cash at bank and in hand CFB funds Total 13 14 109,319 37.541 109,319 37,541 63,596 37,384 15 Total ••$ets 3,661,062 3,661,062 100,980 L••$: current Ilabllltles: Credltors.. Amount falling due withln one year 16 32,095 32,095 34,245 Net current assets 3,628.968 3.628,968 66,736 Net Jssets Flnanced by: charlty funds General - restrlrted General - unrestrlcted 3,628,968 3,628,968 3,628,968 3,628,968 66,736 66,736 The financial statements were approved and authorfsed for Issue by the Trustees and slgned on thelr behalf by., Mr Clord Dye Trustee Rev Paulo Bessa Da Sllva Trnstee The notes on pages 13 to 19 form part of the financial statements Page 12
STOKE NEWINGTON MEfHODIST CHURCH NOTES TO THE ACCOU[S FOR Y&qR ENDED 31 AUGUST 2022 l. AccouTrtlng pollcles (a) Accountlng conventlon These accounts have been prepared in accordance with Charities Act 2011 and Accounting and Reporting by Charities; Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable In UK and Republlc of Ireland (FRS 102). Stoke Newlngton Methodist Church is a Public benefit Entity as defined by FRS 102. Stoke Newington Methodist Church has taken advantage of the provisions In the SORP for charities applying FRS 102 Update Bulletln I not to prepare a Statement of Cash Hows. The accounts are prepared In sterllng, whlch Is the functlonal currency of the charlty. Monetary amounts are rounded to the nearest pound. The accounts of the Stoke Newlngton Methodlst Church have been prepared under historlcal cost convention, modifled to include the valuation of investment properties and certain flnanclal instruments at fair value. The principal accounting policies are set out below. (b) Golng Concern At the year end, the charlty had unrestricted general reserves of £20,000 and It wlll contlnue to recelve income from property ntaI5 and donations during 2023. If requlred, It can also seek flnanclal support from other Methodist Church entities. The Trustees acknowledge the adverse effect of the Covid pandemlc has had on not only the serVIS It offers to Its worshlppers, but also on Its flnances but most of the challenges have been overcome. Thus, at the tlme of approvlng thls account, the Trustees have reasonable expectation that the Charlty wlll have sufficlent financlal resources to contlnue in operatlonal exlstence for the foreseeable future. (c) Fund accountlng General funds are unrestrlcted funds which a available for use at the dlrection of the Trustees in furtherance of the general objectives of the Charity and whlch have not been deslgnated for other purposes. Restricted funds are funds which are to be used in accordance wlth the specific restrlctions imposed by the donors whlch have been ralsed by the charlty for a partlcular purpose. The cost of raising funds are charged against the specific fund. The alm and use of each restrlrted fund Is set out In the notes to the financlal statements where appllcable. (d) Income rttognltlèn All Income is recognlsed once the charlty has entitlement to the Income, it Is probable that the income wlll be reiVed and the amount of income receivable can be measured reliably. Income tax recoverable In relation to investment income is recognised at the time the Investment Income is receivable. Page 13
STOKE NEWINGTON MrfHODIsf CHURCH NOTES TO ThE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2022 l. Accountlng pollcles - Contlnued (e) Benevolence Benevolence funds have been historlcally contributed by members to support those In need. (f) Grants and donations recelved Grants from third parties are included when the relevant condltlons for the grant have been met. (g) Voluntary Income Voluntary income comprises donatlons and contdbutlons and is accounted for when entitlement has been confirmed, the amount can be measured and receipt is probable. (h) Rental Income Rental Income from Investment properties is accounted for on a recelvable basis. (i) other Incom• Other income Is accounted for on recelvable basls. (J) Investment Income and Interest Interest on deposits and Investments Is accounted for on recelvable basls (k.) Expendlture Expendlture Is recognlsed once there Is a legal constructive obllgatlon to transfer economlc benefit to a thlrd party. It is probable that a transfer of economic beneflts will be required In settlement and the amount of obllgatlon can be measured reliably. Expendlture is classifled by actlvlty. The costs of each activlty are made up of total of dirett costs and shared costs, Including support costs Involved In undertaklng each actlvlty. (l) Expen••• All expendlture is accounted for on accrual basls. Any ensurfng Ilabllltles are recognlsed as soon as a legal or constructlve obllgation arises. (m) Circuit assessment Clrcuit a55essment Is accounted for on an accrual basis. (n) Cash flow The financial statements do not Include a cash flow because the church, as a small reporting entity Is exempted from the requirement to prepare such a statement under the Financial Reportlng Standard for Smaller Entities (effectlve 2002). Page 14
STOKE NEWINGTON MEfHODIsf CHURCH NOTES TO THE ACCOUrS FOR YEAR ENDED 31 AUGUST 2022 l. Accountlng pollcles - Contlnued (o) Tanglble flxed assets depreclatlon Assets having an inltlal cost of £IOOO or less are written off on acquisition. Fixtures and fittings, offlce and computer equlpment havlng an Initial cost gater than £IOOO are stated at cost less depreclation. For these accounts all fixtures and fittings have been written off as in the expenditure and not capitallsed. (p) Cash and cash equlvalents Cash and cash equivalents include cash In hand, deposits held at call wlth banks, other short-term Investments with orlglnal maturities of three months or less. (q) Flnanclal Instruments The charlty has elected to apply the provlslons of Sectionl I 'Baslc Flnanclal Instruments. or FRS 102 to all Its flnanclal Instruments. Flnancial instruments are recognised In the charlty's balance sheet when the charlty becomes party to the contractual provislons of the instrument. Flnanclal assets and Ilabllltles are offset, with the net amounts presented in the accounts, when there Is a legally enforceable rlght to set off the recognised amounts and there Is an Intention to settle on a net basls or to realise the asset and settle the Ilabllity slmultaneously, (r) Baslc flnanclal a•sets Baslc financlal assets, which Include other debtors and cash and bank balances, are Inltlally measured at transactlon prlce Including transactlon costs and are subsequently carried at amortlsed cost using the effectlve Interest method unless the arrangement constitutes a financlng transaction, where the transaction is measured at the present value of the futu CeIpts discounted at a market rate of Interest. Flnancial assets are classlfied as recelvable wlthln one year are not amortised. (s) Basic flnanclal Ilabllltles Basic flnanclal Ilabllltles, including other payables are initially recognised at transattion price unless the arrangement constltutes a flnanclng transactlon, where the debt instrument is measured at the present value of the future payments dlscounted at a market rate of InteSt. Financial liabilities classified as payable withln one year are not amortlsed. Page 15
STOKE NEWINGTON METHODIST CHURCH NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2022 Total Totsl Funds Fund$ Fund• Fundg 2022 2022 2022 2021 l. Church Offering• Offerings Benevolence 8,489 8,489 5,157 8,489 8,489 5,157 2022 Z022 2022 2021 2. R•ntal In¢om• Academic Nursery Glnger Nursery Green Lanes Flat Other Room Rentals 78,440 83,128 13,160 3,062 177,790 78,440 83,128 13,160 3,062 177,790 72,075 67,836 15,792 155,703 2022 2022 2022 2021 3. Donatlons Donatlons other credlts 440 454 894 440 454 894 345 345 2022 2022 2022 2021 4. Grant Income and Interert Intest Grants 165 165 51 165 165 51 2022 2022 2022 2021 5. Other Incom• Fair value of the church bulldlng 3,514,202 3,514,202 3,514,202 3,514,202 Page 16
sroKE NEWINGTON METHODIST CHURCH NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2022 Total Total Fund• Funds Fund• Fund 2022 2022 2022 2011 6. Clrrult AgseMm•nt Payment to Methodist church clrcuit 38,250 38,250 55,250 7. Gr•ntA •nd Charlty donatlon• 2022 2022 2022 1021 Grants - Benevolent Charity donation 2,000 2,000 8. Stlp•nd •nd Staff rn•t 2022 2022 2022 2021 Premlses and operatlonal manager 23,491 23,491 15,956 9. Cot of actlvltle• In furthernnc• of: Charity's objects Telephone and broadband Church group Donatlons Muslc Ilcences & envelopes Insurance Church expenses 2022 2022 2022 2021 1,389 829 170 10,340 2,787 1,408 16,923 1,389 829 170 10,340 2,787 1,408 16,923 839 766 2,548 1,290 5,443 10. Support co•ts 2022 2022 2022 2021 Premlses costs utilities & water costs Cleaning & waste disposal Repairs Fees 7,488 21,532 4,483 22,999 143 56,645 7,488 21,532 4,483 22,999 143 56,645 6,982 23,330 2,003 24,058 104 56,477 11. Management and govern•nu Costs 2022 2022 2022 2021 Accountancy fees Consultancy fees 2,000 2,000 2,000 1,118 3,118 2,000 2,000 Page 17
roKE NEWINGTON MEfHoDIST CHURCH NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2022 Notes Freehold land Freehold land 12 & Building & Bulldlng 2022 2021 12. Tangible assets Falr valuatlon At 31 Aygu•t 2022 3,514,202 13. Debtors 2022 2021 Debtors balances 14. Cash balances 2021 2021 Total balances held In all current accounts at perfod end 109,319 109,319 63,596 63,596 15. CFB Balances 2022 1021 CFB Account 08587010 CF8 Account 08587020 7,096 30,445 37,541 7,066 30,318 37,384 16. Credltors 2022 2021 Accrued accountancy fees Deposlt - nursery rent li 2,000 30,095 32,095 4,150 30,095 34,245 17. Related party transactlon During the year, the charity paid institutlonal grants to Methodist Church Clrcult such as the Circult assessment fees stated In note 6 18. Net lncomlng resour¢es/(Resources expended) This Is stated after charging Accountant's fees 2022 2021 li 2,000 2,000 Page 18
STOKE NEWINGfoN MEfHODisf CHURCH NOTES TO THE ACCOUNTS FOR YEAR ENDED 31 AUGUST 2022 Notes 19. Muslc Ilcence & envelopes 2022 2021 Muslc for services CCLI licences Donation5 envelopes 9,578 762 260 319 187 766 10,340 20. Utllltle• 2022 2021 Electriclty cost Gas cost Water cost 11,806 6,594 3,132 21.532 14,233 7,003 2,094 23,330 21. Cleanlng & Waste dl•po8al 2022 2021 Cleaners costs Waste dlsposal to local councll 3,106 1,377 4,483 896 1,107 2,003 22. Trustees remuneratlon Durlng the year, no Trustee received any remuneration Durlng the year, no Trustee recelved any beneflts in kind 2022 2021 23. Taxatlon stoke Newlngton Methodlst Church Is a registered charity and all of its artlvities are tax exempt under rules of taxatlon granted to charities. 24. Analysls of net assets between funds Analysls of net assets between funds: current pertod General General Funds Funds 2022 2021 Tanglble fixed assets Current assets Creditors amount falling due within one year Creditors amount - Deposit for building rent 3,514,202 146,860 2,000 30,095 3.628.967 100,980 4,150 30,095 66,735 Page 19