sroKE NEWINGTON MEfHODIST CHURCH
BALANCE SHE
AS AT 31 AUGUST 2023
Totsl
Total
Funds
Funds
Funds
Funds
Notes
2023
2023
2023
2022
Fixed assets
Freehold propeity
12
3,514.202
3.514,202
3,514.202
Tangible fixed assets
12b
4,661
4,661
Current assets
Debtor5
Cash at bank and in hand
CFB funds
Total
13
14
15
4.723
91,946
38,846
13S.515
4.723
91,946
38.846
135,515
109,319
37,541
146,860
Total assets
3.654,378
3,654,378
3,661,062
Less: current liabilities:
Creditors-.
Amount falling due within one year
16
54,578
54.578
32,095
Net current assets
3.599,799
3,599,799
3,628,968
Net assets
Financed by: charity funds
General - restricted
General - unrestricted
3,599,799
3.599,799
3,599,799
3,599,799
3.628,968
3,628,968
The financial Statements were approved and authorised for issue by the Trustees and signed on thelr
behalf bv:
Mr Clord Dyer
Trustee
Rev Paulo Bessa Da Sllva
The notes on pages 13 to 20 fomi part of the finanaal statements
Page 12

sroKE NEWINGTON METHODIST CHURCH
ATEMENT OF FINANCIAL ACTIVITIES
FOR YEAR ENDED 31 AUGUST 2023
Untestrlcted Restricted
T•)lal
Total
Funds
Funds
Funds
Funds
Notes
2023
2023
2023
2022
Incoming resources
Church Offering & benevolen
Rental income
Donations
Grant income and interest
Other income
Total incomlng resources
22,728
158,619
415
7.139
22,728
158,619
415
7.139
8,489
177,790
894
165
3.514,202
3.701.540
188.901
188.901
Resources expended
Circuit assessment
93,280
93,280
38,250
2.000
23,491
16,923
56,645
2,000
139.308
Grants and donations
Stipend and staff cost
Charity Costs
Support costs
Management and governance cost
Total re$our¢es expended
20,131
16,253
85.756
2,650
218,070
20,131
16,253
85,756
2.650
218.070
io
li
Net(outgolng)Ilncomlng resources for the year-
29,169
29.169
3.562.232
Total funds at the start of the year
3.628.968
3,628,968
66,736
Balance at the end of the year
3.599.799
3.599,799
3,628,968
The Statement of finanaal activities includes all gains and losses recognised in the year
The notes on pages 13 to 20 fonn part of the financial statements
Page 11

STOKE NEWINGTON MEfHODisf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGUST 2023
l. Accounting policies
(a) Accounting convention
These accounts have been prepared in accordance with Charities Act 2011 and Accounting and
Reporting by Charities; Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in UK and Republic of Ireland
(FRS 102). Stoke Newington Methodist Church is a Public benefit Entity 35 defined by FRS 102.
Stoke Newington Methodist Church has taken advantage of the provisions in the SORP for charitie5
applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows.
The accounts are prepared in sterling, which is the functional ojrrency of the tharity. Monetary amounts
are rounded to the nearest pound.
The accounts of the Stoke Newington Methodist Church have been prepared under historical cost
convention, modified to indude the valuation of investment properties and certain financial instruments
at fair value. The principal accounting policies are set out below.
(b) Golng ¢on¢ern
At the year end. the charity had unrestrirted general reserves of £20.000 and it will contlnue to recelve
income from property rentals and donations during 2023. If required, it can also seek financial support
from other Methodist Church entities. The Trustees acknowledge the adverse effect of the Covid
pandemic has had on not only the services it offers to its worshippers. but also on its finances but most
of the challenges have b￿n overcome. Thus, at the time of approving this account. the Trustees have
reasonable expectstion that the Charity will have suffioent financial resources to continue in operational
existence for the foreseeable future.
(c) Fund accounting
General funds are unrestricted funds which are available for use at the direttion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes. Restricted funds are funds which are to be used in accordance with the specific restrictions
imposed by the donors which have been raised by the charity for a particular purpose. The cost of
raising funds are charged against the specific fund. The aim and use of ead) ￿$triCted fund is set out in
the notes to the financial statements where applicable.
(d) Income recognition
All Income is recognised once the charity has entitlement to the income, it is probable that the income
will be received 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.
(e) Fixed assets & depreciation recognition
Fixed asset5 comprise fumiture and equipment and musical equipment and have been costing more
than £500. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates
calculated to write off the cost of fixed assets. less their estimated residual value, over their expected
useful lives on the following bases-
Equipment - 25 Wo reducing balance, Fumiture & fitting - 250h reducing balance
Page 13

STOKE NEWINGTON MEfHODIsf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGusf 2023
l. Accounting policies - Continued
(f) Benevolence
Benevolence funds have been historically contributed by members to support those in need.
(g) Grants and donations received
Grants from third parties are included when the ￿levant conditions for the grant have been met.
(h) Voluntary income
Voluntary income comprÉses donations and contributions and is accounted for when entitlement has
been confirmed, the amount can be measured and receipt is probable.
(i) Rental income
Rental income from investment propertie5 is accounted for on a receivable basis.
(j) Other income
other income is accounted for on ￿CeiVable basis.
{k) Investment Income and interest
Interest on deposits and investments is accounted for on receivable ba515
(l) Expenditure
Expenditure is recognised once the￿ is a legal construrtive obligotion to transfer economic benefit to
third party; it is probable that a transfer of economic benefits will be required in settlement and the
mount of obligation can be measured reliably. Expenditure is classified by activity. The costs of each
artivity are made up of total of direct costs and shared costs, induding 5UPPOrt Costs involved in
undertaking each activity-
{m) Expenses
All expenditure is accounted for on accrual basis. Any ensuring liabilities are recognised as soon as a
legal or constructive obligation arises.
(n) Circuit assessment
Circuit assessment is accounted for on an accrual ba515.
(o) 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 Finanoal Reportlng Standard for
Smaller Entities (effective 2002).
Page 14

sroKE NEWINGfoN METHODIsf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGUST 2023
l. Accounting policies - Continued
(p) Tangible fixed assets depreciation
Assets having an initial cost of £IOOO or less are written off on acquisition. Fixture5 and fittings, office
and computer equipment having an initial cost greater than £IOOO are stated at cost less depreciation.
For these accounts all fixtures and fittings have been written off as in the expenditure and not
capitalised.
(q) Cash and cash equlvalents
Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term
investments with original maturities of three months or less.
(r) Financial Instruments
The charity ha5 elerted to apply the provisions of Sectionll 'Basic Finanaal Instrument5, or FRS 102
to all its financial instruments.
Financial instruments are recogni5ed in the charity's balance sheet when the charity becomes party to
the contractual provisions of the instrument.
Flnancial assets and 5iabilities are offset, with the net amounts presented in the accounts, when there
is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to wlise the asset and settle the liability simultaneously.
(s) Basic financial assets
Basic financial as*ts, which include other debtors and cash and bank balances, are initially measured
at transaction price including transaction costs and are Subsequently carried at amortised cost using
the effective interest method unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market rate of
interest. Financial assets are dassified as receivable within one year are not amortised.
(t) Basic financial liabilities
Basic financial liabilities, including other payables are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt in5trurnent is measured at the
present value of the future payments discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not amortised.
Page 15

sroKE NEWINGTON METHODIsf CHURCH
NOTES TO THE ACCOU￿rS
FOR YEAR ENDED 31 AUGUST 2023
Total
Totsl
Funds
Funds
Funds
Funds
2023
2023
20Z3
2022
l. Church Offerings
Offerings
other
9,635
13.093
22.728
9.635
13,093
22,728
8,489
8,489
2023
2023
2023
2022
2. Rental Income
Academic Nursery
Ginger Nursery
Green Lanes Hat
other Room Rentals
71.903
69,800
8.430
8,486
158,619
71,903
69,800
8,430
8.486
158,619
78,440
83.128
13,160
3.062
177,790
2023
2023
2023
2022
3. Donatlons
Donations
other credits
265
150
415
265
150
415
440
454
894
2023
2023
2023
2022
4. Grant income and interest
Interest
Grants
1,516
5,623
7,139
1.516
5.623
7.139
165
165
2023
2023
2023
2022
5. Other income
Fair value of the church building
3,514,202
3,514,202
Page 16

STOKE NEWINGTON MEfHODIsf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGusf 2023
Totsl
Total
Funds
Funds
Funds
Funds
2023
2023
2023
2022
6. Circuit Assessment
Payment to Methodist diurch circuit
93.280
93,280
38,250
7. Grants and Charity donations
2023
2023
2023
2022
Grants - Benevolent
2,000
2,000
8. Stipend and staff cost
2023
2023
2023
2022
Premises and operational manager
20,131
20,131
23,491
9. Cost of activities in furtherance ofr
Charity's objects
Telephone and broadband
Church group
Donations
Music licences & envelopes
Insurance
Church expenses
2023
2023
2023
2022
786
1,237
786
1,237
1,389
829
170
10,340
2.787
1,408
16,923
10,190
3,187
854
16,253
10,190
3,187
854
16,253
10. Support costs
2023
2023
2013
2022
Premises costs
Utilities & water costs
Cleaning & waste disposal
Repairs & maintenance
Fees
Depreciation
12,930
32.940
12,930
32,940
7,488
21,532
4,483
22,999
143
34,750
139
34,750
139
1,554
85,756
1.554
85,756
56,645
11. Management and governance costs
2023
2023
2023
2022
Accountancy fee5
Consultancy fees
2,650
2.650
2,000
2,650
2.650
2,000
Page 17

STOKE NEWIhiGfoN MEfHODIsf CHURCH
NOTES TO THE ACcOu￿rs
FOR YEAR ENDED 31 AUGUST 2023
Notes
Total
Total
12. Freehold property
Fair valuation
12
31-Aug
2023
31-A￿g
2022
At 31 August 2022
3,514,202
3,514,202
12b. Tangible assets
Total
Total
Musical Furniture &
equipment
fittings
31-Aug
2023
31-Aug
2022
Cost
At I September 2022
Additions
1,824
1,824
4.391
4.391
6,215
6,215
At 31 August 2023
Depreciation
At I September 2022
Charye for the year
At 31 August 2023
456
456
1,098
1,098
1,554
1,554
Net book value
At 31 August 2023
1,368
3.293
4,661
13. Debtors
2023
2012
Debtors balances
4,723
4,723
14. Cash balances
2023
2022
Total balances held in all ojrrent accounts at period end
91,946
91,946
109,319
109.319
15. CFB Balances
1023
2022
CFB Account 08587010
CFB Account 08587020
7,343
31,503
38,846
7,096
30,445
37,541
Page 18

STOKE NEWINGfoN METHODIsf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGusf 2023
Note5
16. Creditors
2023
2022
Accrued accountancy fees
Other5
Deposit - nursery rent
li
2,650
21,834
30,095
54,578
2.000
30,095
32,095
17. Related party transartlon
During the year. the charity paid institutional grants to Methodist Church Circuit such as the
Circuit assessment fees stated in note 6
18. Net Incoming resources/(Resources expended)
This is stated after charging
Accountant'5 fees
2023
2022
li
2.650
2,000
19. Music licence & emvelopes
2023
2022
Music for services
CCLI licences
Donations envelopes
9,654
535
9,578
762
10,190
10,340
20. Utilrties
2023
2022
Electricity cost
Gas cost
Water cost
14,564
15,806
2,570
32,940
11,806
6,594
3,132
21,532
21. Cleaning & Waste disposal
2023
2022
Cleaners costs
Waste disposal to local council
2,219
1,493
3,712
3,106
1,377
4,483
22. Trustees remuneratlon
During the year, no Trustee received any remuneration
During the year, no Trustee re￿iVed any benefits in kn.nd
2023
2022
Page 19

sroKE NEWINGTON MEfHODIsf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGUST 2023
Notes
23. Taxation
Stoke Newington Methodist Church is a registered charity and all of its activities are tax exempt
under rules of taxation granted to charities.
24. Analysis of net assets between funds
Analysis of net assets between funds: current period
Genernl
Funds
Funds
2023
2022
Freehold Properties
Tangible fixed Assets
Current assets
3.514.202
4,661
135,515
24,484
30,095
3.599.799
3,514,202
146,860
2,000
30,095
3.628,968
Creditors amount falling due within one year
Creditors amount - Deposit for building rent
25. Prior Year adjustment
The current asset for prior year (2022) was understated by £13.083. The understatement was
as a result of the cash balance for the year understated by same figure. This has been adjusted
in the current financial year with recognising an additional income of £13083 in the Statement
of Financial Activities as other under Church Offerings in note l. The cash balance in the balance
the actual cash balance for the current period. This is to state that the understatement is not
fundamental and doe5 not in anyway affetts the report.
Page 20

STOKE NEWINGTON MEfHODIsf CHURCH
INDEPENDENT EXAMINERS REPORT
FOR YEAR ENDED 31 AUGUSf 2023
Independent examiner'5 report to the Trustees of Stoke Newington Methodist Church
I'the Charity,)
I report to the charity Trustees on my examination of the accounts of the Charity for the year
ended 31 August 2023 set in pages 11-20.
Responsibilities and basls of report
As the trustees of the Charity you are responsible for the preparation of the accounts in
accordance with the requirements of Charities Act 2011 ('the 2011 Act,).
I report in respect of my examination of the Charity's account carried out under Section 145 of the
2011 Act and in carrying out my examination I have followed the applicable Direction5 given by the
Charity Commission under settion 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fart that the Charity has prepared the accounts In accordance with
Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Finanoal Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities:
Statement of Recommended Prartice issued on l April 2005 which is referred to in the extant
regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in
accordance with the generally Accepted Accounttng Practice effertive for reporting periods
begirknirig on or after l January 2015.
I have completed my examination. I confimi that no matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
l. accounting records We￿ not kept in respett of the Charity as required by section 130 of the
2011 Act: or
2. the accounts do not accord with those records. or
3. the accounts do not comply with the applicable requirements Con￿MIng the forni and content of
the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and fairf view which in not a matter considered as part
of an independent examination, accounting records were not kept in respect of the Charity as
required by section 130 of the 2011 Act.
Page 9

sroKE NEWINGTON MEfHODisf CHURCH
INDEPENDE￿ EXAMINERS REPORT
FOR YEAR ENDED 31 AUGUSf 2023
Independent examlner's ststement- continued
I have no concern and have come across no other matters in connection with the examination to
which attention should be drawn in order to enable a proper understsnding of the accounts to be
reached.
This report is made solely to the Charity's Trsjstees, as a body in accordance with Part 4 of the
Charities (Accounts and Reports) Regulation 2008. My work has been undertaken so that I might
state to the Charity's Trustees those matters I am required to state to them In an independent
examinerfs report and ft)r no other purpose. To the fullest extent permitted by law, I do not accept
or assume responsibility to anyone other than the Charity and the Charity's Trustees as a bodyi for
my work or for this report.
Aklntayo Oio FCCA
Assoclation of Chartered Certified Accountants
Independent examlner
Resource Accountancy Prartice Ltd
46 Hollywood Way
Erith
DA8 2QE
Dated: Q,7 J< Jw
Page 10

STOKE NEWINGTON METHODIST CHURCH
Charity Registration Number: 1185026
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

STOKE NEWINGTON METHODIST CHURCH
TRUSTEES REPORT AND FINANCIAL sTATEME￿rs
FOR THE Y&4R ENDED 31 AUGUST 2023
CONTENTS
PAGE
Reference and administrative details
Trustees report
Statement of Trustees. responsibilities
Independent Examlnerfs report
9-10
Statement of Financial Activities
li
Balance sheet
12
Notes to the accounts
13-20
Page I

STOKE NEWIhlGTON MEfHODIST CHURCH
REFERENCE AND ADMINISTRATIVE D￿AILs
FOR THE YEAR ENDED 31 AUGUST 2023
The address of the registered office of the Stoke Newington 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
Senior management team
Rev Andrew Letby
Rev Paulo Bassa Da Silva
Investment managers:
Central Finance Board of Methodist Church
9 Bonhill Street
London
EC2A 4PE
Bankers:
TSB Bank
539 High Road
Tottenham
London
N17 6SD
CAF Bank
25 Kings Hill Avenue
West Malling
Kent
ME19 4QJ
Independent examiner:
Akintayo Ojo FCCA
Resource Accountancy Practice Limited
Chartered Certified Accountant
46 Hollywood Way
Erith
DA82QE
Page 2

STOKE NEWINGfoN MEfHODIST CHURCH
REPORT OF THE TRusfEES
FOR YEAR ENDED 31 AUGUST 2023
The Trustees present their report and the examined accounts of the Stoke Newington Methodist
Church for the year ended 31 August 2023. The Trustees have adopted the provisions of the
statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities" (FRS 102) In
preparing the annual report and accounts of the Charity.
The accounts have been prepared in accordance with the accounting policies set out in note I to the
accounts and comply with the Charity's governing document. the Charities Act 2011 and Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing
their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and
Republic of I￿land (FRS 102)
Governance
The governing body of the Methodist Church is the Methodist Conferen￿, which meets annually. The
authority under which the Conference Acts is given by Methodist Church Act 1976.
We are govemed by the Methodlst Churches Constitutional practi￿ and Discipline and all Charity
Law of the United Kingdom.
The Church is govemed by the Methodist Church Act 1976, the deed of Union and the Model Trusts
of the Methodist Church are and shall be deemed to have been since the date of union of
advancement of: (a) the Christian faith in accordance to the dortrinal standards and discipline of the
Methodist Church (b) any charitable purpose for the time being of any Connexional District. Circuit.
local of other organisation of the Methodist Church (c) any charitable purpose for the time being in
any society or institution or subsidiary or ancillary to the Methodist Church. In setting our objectives
and planning our artivities. the charity has given careful consideration to the Charity Commission's
guidance on public benefit and in particular to its supplementary public benefit guidance on
advancing our objectives as set above.
The Stoke Newington Methodist Church is a part of the Hackney an(i Stoke Newington Methodist
Circuit. and is registered with the Charity Commission with the number 1185026.
Full Name of Charity: Stoke Newington Methodist Churth
Charity Registration Number: 1185026
Date of Registration: 27 August 2019
Main Communication Address: Stoke Newington Methi)dist Church
106 Stoke Newington High Street
London
N16 7NY
Page 3

STOKE NEWINGTON METHODIsf CHURCH
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 AUGUST 2023
Trustees
The full list of Trustees who served during the ￿PortIng year of the accounts were as ft)Ilows:
The trustees who joined or resigned during the year have the date of appointment or ￿ignation
stated beside their names
Rev Andrew Letby
Rev Paulo Bessa Da Silva
Esther Adekunle
Laura Dyer
Mary Campbell
Elizabeth Aggrey
Ekow Egyir
Alexandra Weekes Aggrey
Georgina Oshinboni
Lola Bello
Clord Dyer
Rosaline Lall
Olive Johnson
Cora Woolcock
Eric Ayoola
Joy Bello
Mary Browne
Methods of appointment or election of Trustees
The management of the charfty Is the responsibility of the Tnjstees who are elected and co-opted
under the terms of its goveming documents and in line with the Methodist Church.
Organisational StrUc￿re and decision-making policies
The Charity is organised $0 that the Trustees meet regularly to manage the affairs of the Charlty. A
Minister manages the day to day administration of the church with the support of the Church
steward5 and an Operations Manager (who was made redundant at the end of October 2022).
Policies adopted for the induction and training of Trustees
Most Trustees are already familiar with the activities of the Charity as they are drawn from
members who have the skill set to offer and empathise with our core values. Newly elected Trustees
are encouraged to attend training.
Objective and purpose
The calling of the Stoke Newington Methodist Church is to respond to the gospel of God's love in
Christ and to live out its discipleship in worship and mission. This is expressed through Worship,
Learning and caring. Evangelism and se￿ICe. The Church is committed to use its resources in a
clearly focussed and intentional way to ensure an effective response to the needs of our
congregations and wider community.
Activitie5
The mission of the Church is to worship God as it celebrates its diversity according to the teachings
of Jesus Christ. Through social ministy, prdyer and pastoral care we will express God's kingdom of
love.
Page 4

STOKE NEWINGfoN METHODIST CHURCH
REPORT OF THE TRusfEES
FOR YEAR ENDED 31 AUGUST 2023
Activities
Both church congregations have continued to meet regularly for worship on Sundays, combining for
some services including the celebration of Holy Communion. The Hackney and Stoke Newington
Methodist Circuit have also continued online worship on Sundays vihich some of our members attend.
The Listening Place has been running throughout the year on Tuesdays at High Street and on
Wednesdays at Green Lanes, with a number of volunteer5 serving drÉnk5 and light refreshments for
our visitors (between 20 and 50 each 5es5ion). This has been coordinated by Rev Paulo Be5sa Da
Silva and some volunteers.
A Brazilian congregation meets every Saturday for worship and fellowship at High Street, although
the Brazilian Methodist Fellowship is dispersed in London, so no longer having monthly services.
There are active nurseries njnning at both church sites. and other individuals and groups have hired
rooms at the churches. The Operations Manager who wa5 employed to works across both buildings
was made redundant at the end of Ortober 2022.
Achievements and perforniance
The church maintained worship at both sites during the year and continues to share fellowship
together. The Listening Wace continues to serve an increasing number of people from the local
community, and the hours were increased during the winter months as a Wami Space, for which the
church received a grant from the London Di5trirt of the Methodist Church. We had a successful New
Year's Party in January 2023. During the year, The Listening Place has been offering blood pressure
checks for the visitors, and on Tuesdays, during the hou￿ of The knstening Place, there is a Prayer
fellowship at the High Street Churd). We continue to hi￿ our rooms. Faith City Church continue to
offer hot meals to the homele55 and low-income families using the High Street p￿rniSeS On￿ a
month.
Investments
The investments of surplus funds is operated via Central Finance Board (CFB) of the Methodist
Church. CFB aim5 to provide high quality investment Service seeking above average retums for long
temi investors. whilst ensuring that the securities held by all its funds are in line with the ethical
policy of the Methodist Church. The Church has its funds in a deposit account with CFB.
Public benefit requirement
The trustees have due regard to the guidance published by the Charities Commission in complian
with its duties under section 4 of the Charities Act 2011.
This guidance sets out two key principles:
l. The organisation must have an identifiable benefit.
2. The benefit must be to the public or a section of the public.
The Church exists to:
increase awareness ot God's presence ano to ￿lebrate God's love;
help people to learn and grow as Christians, through mutual support and care. and
be a gocKI neighbour to people in need and challenge injusbce.
The Trustees consider that for these ￿sOn$ the charity meets these public benefit requirements.
Page 5

sroKE NEWINGfoN MEfHODIST CHURCH
REPORT OF THE TRUSTEES
FOR YEAR ENDED 31 AUGUST 2023
Financial review
Stoke Newington Methodist Church is funded to a large extent by a day nursery on each church site.
There is a flat which brings in a monthly rental and also other hirers from the community make
regular and one-off use of the premises. Income is also received through the offering from the
congregation.
The various properties are funded from their income on a day to day basis.
The value of the charity's funds as at 31 August 2023 was £3,599,799. {2022 is £3,628,968).
Trustees. interests
The ministers who are Trustees of the charity are paid a skn.pend from the Hackney and Stoke
Newington Circuit and are given a manse for the ministers and their family to live. The council tax
and also an official telephone line with broadband facilities to enable them carry out their services
as Eninisters are also paid by the circuit. These arrangements are practiced through the Connexion.
Expenses have been reimbursed to trustees where items have been purchased for the church. Apart
from these, no other Trustee5 have been paid for their servi￿5 to the Charity.
Risk management
The charlty has reviewed its risk policies and is producing a Risk Register highlighting the various
risks facing the charity. the impact and the likelihood of them happening. The main headings under
which these risk5 have been categorised are:
Trustees, Responsibilities
Membership and mission
Resources, people and property
Finance
Legal
These risks a￿ ￿VieWed regularly to ensure effectiveness.
Reserves policy
The trustees. policy is to have unrestricted and uncommitted ftjnds (freereserves) to cover 3 -
months of resources expended which equals roughly £30,000 - £60,000. They feel that this will
enable current activities to continue if there is any significant drop in funding. It would obviously be
necessary then to consider how funding would be replaced or activities changed.
The primary purposes of the charity are".
(i) to carry out the objectives of the Methodist Church as reported above.
(li) to support the work of the ministers. lay employees, charity officers and Church members in
their various responsibilibe5 in relation to the charity's overall mission.
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sroKE t4EWINGTOII MEfHODisf CHURCH
REPORT OF THE TRusfEES
FOR YEAR ENDED 31 AUGusf 2023
Reserves pollcy
The reserves pollry In connectlon with thls PUry￿ will seek to maintain sumdent funds to ensure
the payments of the Clrcuit assessment anLI lay employee's salaryp and to meet the needs of the
running costs of the church, for a given period of time.
The unrestricted funds are for the purpose of the Charity.
Plans for the future
The charity will continue to meet for worship on its two sites. and also continue and develop The
Listening Place. New volunteers are starting to help at The Listening pla￿ frorn other churches in
the Circuit. In September, the Hackney and Stoke Newington Circuit a￿ seeking to appoint a
Circuit Pastoral and Community Outreach Worker. who W￿11 coordinate the mission of The Listening
Place.
There are p5ans to form a Brazilian congregation who will meet for worship and fellowship at Stoke
Newington High st￿et in the coming months led by Rev Paulo Bessa Da Silvè and other Brazilian
mlnisters and friends
Approved by the trustees on 27 June 20Z4 and signed on their behalf by:
Mr Clord Dyer
Trustee
Rev Paulo
Trustee
Da Silva
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sroKE NEWINGTON METhODisf CHURCH
STATEMENT OF TRusfEES RESPONSIBILrriES
FOR YEAR ENDED 31 AUGUST 2023
Stat•ment of Trustee*. respon*lbillty
The Tnjstees are responslble for preparing the TTUStee'5 Reports ar￿ Flnandal Ststements In
accordance wlth appllcable law and Untted KIDgdom Accountlng StarKlards (United Kingdorn Genernlly
Attepted Accountlng Prattice).
Charity law appliGible In Unlted Kingdom requlres the Tfustees to P￿pare financial accounrs for each
financial year, whtch give a true and fatr view of the state of affairs of the Charity's financial activlties
during the year and of its financial po%"ts"on at the end of the year.
In preparing these accounts. the Trustees are required to."
Selett suitable accounting policies and apply them consistently:
- ODserye the methods ana pnnapies In the Chanties SORP;
Make judgement and estimates that are r&isonable and prndent..
State whether applscable accounting Standards have been followed subject to any material departure<
disc105ed and explained in the accounts, and
Prepare the finanoal statements on a going Con￿rn basis unless it ts inapprnpriate to
presume that the charity will continue in operation.
The TrL>Stees are responsible for keeping proper accountr.ng records that disdose with reasonable
accuracy at any tsme the financFal posifion of the chanty to enable ihem to ensure that the accounts
omply with the Standing Orders of the Merhodist Church, the Chanties Act 2011, The Chanty
(Accounts and Reports) Regulations 2008 and other regulations. They are also responsible for
safeguardin9 the assets of the charity and for taking reasonable steps for the prevention and deteciion
of fraud and other irregularkties.
Approved by the trustees on 27 June 2024 and signed on their behalf by:
Mr Clord Dyer
Trustee
Rev Paulo
Trustee
Da Silva j
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