STOKE NEWINGTON METHODIST CHURCH
Charity Registration Number- 1185026
TRUSTEES. REPORT AND FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

sroKE NEWINGTON METrIODisf CHURCH
TRusfEES REPORT AND FINANCtAL sTATEME￿rs
FOR THE YEAR ENDED 31 AUGUSf 2024
CONTENTS
PAGE
Reference and administrative details
Trustees report
Statement of Tnjstees. responsibilities
Independent Examinerfs report
9-10
Statement of Financial Activities
li
Balance sheet
12
Notes to the accounts
13-20
Page I

sroKE NEWINGfoN METHODIsf CHURCH
REFERENCE AND ADMINIsfRATIVE D￿AlLs
FOR THE YEAR ENDED 31 AUGUST 2024
The address of the ￿gIStered office of the Stoke Newington Methodist Church for the Charlties
and any other legislation is.
stoke Newington Methodist Church
106 Stoke Newington High Street
London
N16 7NY
Tel: 02072541488
Web: www.hackneymethodist.ory
Senlor management team
Rev Andrew Letby - Resigned: 0110912023
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 examlner:
Akintayo Ojo FCCA
Resource Accountancy practi￿ Limited
Chartered Certified Accountant
46 Hollywood Way
Erith
DA82QE
Page 2

STOKE NEWINGTON MEfHODIST CHURCH
REPORT OF THE TRUSTEES
FOR YEAR ENDED 31 AUGUST 2024
The Trustee5 present their re￿rt and the examined accounts of the Stoke Newington Methodlst
Church for the year ended 31 August 2024. The Trustees have adopted the provisions of the
Statement of Recommended prartI￿ (SORP) "Accounting and Reporting by Charities" (FRS 102) in
preparing the annual report and accounts of the Charity.
The accounts have been prepared in accordan￿ with the accounting policies set out in note I to the
accounts and comply with the Charity's goveming 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 Standartl applicable in the UK and
Republic of Ireland (FRS 102)
Governance
The governing body of the Methodist Church is the Methodist Conferen￿, which meets annually. The
authority under which the conferen￿ Atts is given by Methodist Church Act 1976.
We are govemed by the Methodist Churches Constitutional Practlce and Discipline and all Charity
Law of the United Kingdom.
The Church 15 governed by the Methodist Church Att 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 accordan￿ to the doctrinal standards and discipline of the
Methodist Church (b) any charitable purpose for the time being of any Connexional District, Circuit.
I￿al of other organisation of the Methodlst 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 Methi)dist Church is a part of the Hackney and Stoke Newington Methodist
Circuit, and is registered with the Charity Commission with the number 1185026.
Full Name of Charity: Stoke Newington Methodist Church
Charity Registration Number: 1185026
Date of Registration: 27 August 2019
Main Communication Address: Stoke Newington Methodist Church
106 Stoke Newington High Street
London
N16 7NY
Page 3

sroKE NEWINGTON MEfHODisf CHURCH
REPORT OF THE TRUSTEES (continued)
FOR THE YEAR ENDED 31 AUGusf 2024
Trustees
The fvll list of Trustees who Se￿ed during the ￿PortIng year of the accounts were as follows:
The trustees who joined or resigned during the year have the date of appointment or resignation
ststed beside their names
Rev And￿￿ Letby - Resigned: 0110912023
Rev Paulo Bessa Da Silva
Esther Adekunle
Laura Dyer
Mary Campbell
Elizabeth Aggrey
Ekow Egyir - Resigned: 0110912023
Alexandra Weekes Aggrey
Georgina 05hinboni
Lola Bello
Clord Dyer
Rosaline Lall
Olive Johnson
Cora Woolcock - Resigned: 0110912023
Eric Ayoola
Joy Bello
Mary Browne
Methods of appointment or election of Trustees
The management of the charity is the responsibility of the Trustees who are elected and co-opted
under the terms of Its governing doojments and in line with the Methodist Church.
Organisational structure and decision-making pollcies
The Charity is organised so that the Trustees meet regularly to manage the affairs of the Chartty. A
Minister manages the day to day administration of the church with the support of the Church
stewards and an Operations Manager (who was made redundant at the end of October 2022).
Policies adopted for the Induction and tralning 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 Tnjstees
are encouraged to attend training.
Objective and purpose
The calling of the Stoke Newington Methodist Church 15 to respond to the gospel of Gad's love in
Christ and to live out its discipleship in worship and mission. This is expressed through Worship,
Learning and caring, Evangelism and Service. The Churth is committed to use its resources in a
clearly focussed and intentional way to ensure an effective ￿ponSe to the needs of our
congregations and wider community.
Activitles
The mlssion of the Church is to worship God as it cdebrates its diversity according to the teachings
of Jesus Christ. Through social ministry, prayer and pastoral care we will expre55 God's kingdom of
love.
Page 4

sroKE NEWINGfoN MEfHODIST CHURCH
REPORT OF THE TRUSTEES
FOR YEAR ENDED 31 AUGUST 2024
Activities
Worship continues in both church buildings on Sundays with the congregations combining for some
seNices including the celebration of Holy Communion. The Hackney and Stoke Newington Methodist
Circuit have also continued online worship on Sundays which some of our members attend. We have
introduced Weekly Prayers at stoke Newington High Street on Tuesdays at Ipm. This ha5 usually
been led by Abena Adofo who was employed as a Circuit Pastoral and Community Outreach Worker in
September 2023. Part of her role is to coordinate The ￿stening Place at both High Street and G￿en
Lanes, along with a number of volunteers seprfing drinks and light ref￿hMentS for our visitors
(between 20 and 50 each session). A successful New Yearf5 Paity was held at the beginning of 2024.
A Women's Fellowship group meets monthly on the first Sunday of the month, including an annual
meal enjoyed by many people. Rev Paulo Bessa Da Silva has led a Bible Study on the prophet Amos
during Lent, following a course produced within the London Methodist District. This wa5 based at High
Street, but open to members from across the circuit. In the summer of 2024, we began a
Contemporary Service called 'He￿ l am to Worship, using a singer and a small band from across the
circuit, and from other worshipping groups at the church. There are active nurseries running at both
church sites, and other individuals and groups have hired rooms at the churches. The church relies on
help from attive volunteers - in lookirig after the property and In the mission artivitie5 - particulady
through The Listening Place.
Achievements and perf0rn7an¢e
The church maintained worship at both sites during the year and continues to share fellowship
together. The Director of Music at Stoke Newington continues to arrange a thoir on a monthly basis,
who contribute to the worship when the congregations join together.
The Listening Place continues to seNe an increasing number of people from the local community. and
the hours were again increased during the winter months as a Wami Space. The Listening pla￿ has
continued to be a supportive environment, and has been able to offer some health and well-being
advice to its guests. Another New Years Party was enjoyed early in 2024. We are involved with the
Community Health Champions Programme. run in partnership with Hackney Health and Hackney CVS
to share health infomiation and promote wellbeing among users of The ￿stenIng Place and members
of the churche5. Monthly blood pressure monitoring sessions have been held for users of The Listening
Place with a volunteer nurse, using equipment donated by Hackney Health.
Faith City Church continue to offer hot meals to the homeless and lo%v-income familles using the High
Street premises On￿ a month.
We continue to hire our rooms to a variety of user groups which increase5 our income which is used
for upkeep and mi5sional work of the Church and the Hackney and Stoke Newington Methodist Circuit.
Investments
The investments of surplus funds is operated via Central Finance Board (CFB) of the Methodist
Church. CFB aims 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 fijnds in a deposrt account with CFB.
Page S

sroKE NEWINGfoN MEfHODIsf CHURCH
REPORT OF THE TRUSTEES
FOR YEAR ENDED 31 AUGU￿ 2024
Public benefit requirement
The trustees have due regard to the guidan￿ published by the Charlties Commisslon in compliance
with its duties under section 4 of the Charities Att 2011.
This guidance sets out two key principles:
l. The organisation must have an identifiable benefft.
2. The benefit must be to the public or a sertlon of the public.
The Church exists to:
increase awareness ot God's presence and to celebrate God's love,"
help people to leam and grow as Christian5. through mutual support and care. and
be a good neighbour to people in need and challenge injusti￿.
The Trustees consider that for these reasons the charity meets these public benefit requirements.
The minister who is a Trustee of the charity is paid a stipend from the Hackney and Stoke Newington
Circuit and is given a manse for the minister and their family to live. The council tax and a150 an
official telephone line with broadband facilities to enable them to carry out their services as a minister
a￿ also paid by the circuit. These a￿angements are practiced through the Connexion. Expenses have
been reimbursed to trustee5 where items have been purchased for the church. Apart from these, no
other Trustees have been paid for their servi￿5 to the Charity.
Risk rnanagement
The charity has reviewed its risk policies and is produang a Risk Register highlighting the various
risks facing the charity, the impatt and the likdihood of them happening. The main headings under
hich these risks have been categorised a￿.
Trustees. Responsibilities
Membership and mission
Resources. people and property
rinance
Legal
These rfsks are reviewed regularly to ensure effectiveness.
Reserves policy
The trustees, policy is to have unrestricted and uncommitted fvnds (freereserves) to cover 3 - 6
months of resources expended which equals roughly £30,000 - £60,000. They feel that thi5 will
enable current actlvlties to continue if there is any significant drop in funding. It would obviously be
necessary then to o)nsider how funding would be replaced or activities changed.
The t5rlmary 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 employee5. charity officers and Church members in
their various responsibilities in relation to the charÈty's overall mission.
Page 6

STOKE NEWINGTON MEfHODIsf CHURCH
REPORT OF THE TRUSTEES
FOR YEAR ENDED 31 AUGUST 2024
Reserves policy
The reserves policy in connection with this purpose will seek to maintain sufficient funds to ensure
the payrnents of the Circuit assessment and lay employee's salary. 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 Chaiity.
Plans for the future
The charity will contlnue to meet for worship on its two sites, and also continue and develop The
Listening Place. There is a Macmillan Coffee morning planned in September, and The Listening
Place also plans to hold a Table-Top Sale to raise additional funds. A volunteer at The Listening
Place has invited a doctor to attend some of the session5 on Tuesdays to speak with the guests and
offer health advice. A150 the Circuit is part of Citizens UK. and we expert that the Circuit Pastoral
and Community Outreach Worker will get Involved with that organisation. We expert to continue
to host Circuit Bible Studie5 at High Street Church - probably during Advent and Lent. Rev Dr Paulo
Bessa Da Silva will be going through the Methodlst stationing Process during 2024 - 2025, ￿ the
Circuit might be seeking a new Superintendent Minister from September 2025.
Approved by the trustees on 1st Juty 2025 and signed on their behalf by:
Mr Clord Dyer
Rev Paulo Bessa Da Silva
Trusteo
Page 7

sroKE NEWINGfoN MEfHODIsf CHURCH
srATEMENf OF TRusfEES RESPONSIBILTrtES
FOR YEAR ENDED 31 AUGusf 2024
Statement of Trustees. responsibility
The Trustees are responsible for preparing the Trustee's Report5 and Finanaal Statements in
accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting practi￿).
Charity law applicable in United Kingdom requires the Tnt5tees to prepare financial accounts for each
financial year, which give a true and fair view of the state of affalrs of the Charity's financial activities
during the year and of its financial position at the of the year.
In preparing these accounts, the Trustees are required to:
Selert suitable accounting poliaes and apply them consistently.
Observe the methods and prinaples in the Chants"es SORP;
Make judgement and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed subject to any material departts￿
disclosed and explalned in the accounts, and
prepa￿ the financial statements on a going concem basis unless it Is inappropriate to
presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that disc105e with reasonable
accuracy at any time the financial position of the charity to enable them to ensure that the accounts
comply with the Standing Orders of the Methodist Church, the Charities Act 2011, The Charity
(Accounts and Reports) Regulations 2008 and other regulations. They are a150 responsible for
safeguarding the assets of the charity and for taking reasonable steps for the prevention and detertion
of fraud and other irregularits"es.
Approved by the trustees on 1st july 2025 and signed on their behalf by:
Mr Clord Dyer
Trustee
Rev Paulo Bessa Da Silva
Trustee
tr-J--
Page 8

sroKE NEWINGTON MEfHODIsf CHURCH
INDEPENDENT EXAMINERS REPORT
FOR YEAR ENDED 31 AUGusf 2024
Independent examiner's report to the Trustees of Stoke Newlngton Methodist Church
{'the Charity,)
I ￿pOrt to the charity Trustees on my examlnation of the accounts of the Charity for the year
ended 31 August 2024 set in pages 11-20.
Responsibillties and basis of report
As the trustees of the Charity you are responsible for the preparation of the accounts in
accordance with the requirements of Charities Art 2011 ('the 2011 Act.).
I report in respett of my examination of the Charity's account carrled out under section 145 of the
2011 Act and in carrying out my examination I have followed the applicable Directions given by the
Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examinerfs statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordan￿ wlth
Accountlng and Reporting by Charities: Statement of Recommended Prdttice applicable to charities
preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102) in preference to the Accounting and Reporting by Charities:
statement of Recommended Practice issued on l AprTI 2005 vihich 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 tnje and fair view in
accordance wlth the generally Accepted Accounting Practice effective for reporting periods
beglnning 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. accountlng records were not kept in respect 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 conceming the form 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 faiV view which in not a matter considered as part
of an independent examination. accounting records were not kept in ￿spert of the Charity as
required by section 130 of the 2011 Art.
Page 9

sroKE NEWINGfoN MEfHODIST CHURCH
INDEPENDENT EXAMINERS REPORT
FOR YEAR ENDED 31 AUGUST 2024
Independent examIne￿S statement - continued
I have no concern and have come across no other matter5 in connection with the examlnation to
which attention should be drawn in order to enable a proper understanding of the accounts to be
reached.
This report is made solely to the Charity's Trustees, 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 l am required to state to them in an independent
examiner's report and for no other purpose. To the fullest extent pemiitted by law, I do not ac￿pt
or assume responsibility to anyone other than the Charity and the Charity'5 Trustees as a body, for
my work or for thi5 report.
Akintayo Ojo FCCA
Associatlon of Chartered Certified Accountants
Independent examiner
Resource Accountancy Prartice Ltd
46 Hollywood Way
Erith
DA8 2QE
Dated: 1st July 2025
Page 10

sroKE NEWINGTON MEfHODIsf CHURCH
ATEMENT OF FINANCIAL AcrIvrrIES
FOR YEAR ENDED 31 AUGUST 2024
Total
Total
Funds
Fund5
Fund5
Funds
Notes
Incoming resources
Church Offering & benevolence
Rental income
Donations
Grant income and interest
Other income
Total incoming resources
2024
2024
2024
2023
10,770
193,413
663
2,230
10.770
193,413
663
2,230
22,728
158,619
415
7,139
207.076
207,076
188.901
Resources expended
Circuit assessment
Grants and donations
Stipend and staff cost
Chartty costs
Support costs
Management and governance cost
Total resources expended
114,520
114,520
93,280
6,861
20,733
90,225
2,550
234.889
6,861
20,733
90.225
2.550
234,889
20.131
16,253
85,756
2,650
218.070
io
li
Net(outgoing)lincoming resources for the year-
27,812
27,812
29,169
Total funds at the start of the year
3,599,799
3.599.799
3,628.968 |
Movement of funds
33.153
33,153
Balance at the end of the year
.153
71,987
3.599,799
The Statement of financial attlvities Indudes all gains and losses recogni5ed in the year
The notes on pages 13 to 20 form part of the finanaal statements
Page 11

sroKE NEWINGfoN MEfHODIsf CHURCH
BALANCE SHEEr
AS AT 31 AUGUST 2024
Total
Total
Funds
Funds
Funds
FurNIs
Notes
2024
20Z4
2024
Fixed assets
Freehold prope
2023
12
3,514.202
3.514,202
3,514,202
Tanglble fixed assets
12b
3,636
3,636
4,661
Current assets
Debtors
Cash at bank and in hand
CFB funds
Total
13
14
15
4.723
41,791
40,880
87.394
4.723
41,791
40,880
87,394
4,723
91,946
38,845
135,515
Total assets
3,605,232
3.605,232
3.654,378
Less: current Ilabilities:
Creditors:
Amount falling due withln one year
16
33,245
33,245
54,578
Net current assets
3,571.987
3,571,987
3,599,799
Net assets
Flnanced by: charity fvnds
General - restritted
General - unrestricted
33,153
33,153
3,538.834
3.571,987
31,503
3,560,296
3,591,799
3.538,834
3.538.834
33,153
The financial statements We￿ approved and aLJthorised for issue by the Trustees on 1st July 2025
and signed on their behalf by:
Mr Clord Dyer
Tru
Rev Paulo Bessa Da Silva
Trnstee
The notes on pages 13 to 20 forni part of the financial statem
nts
Page 12

STOKE NEWINGTON MEfHODIsf CHURCH
NOTES TO THE AccouKrs
FOR YEAR ENDED 31 AUGusf 2024
l. Accounting policies
(a) Accountlng convention
These accounts have tjeen prepared in accordan￿ with Charities Act 2011 and Accounting and
Reporting by Charities: Statement of Recommended Practice applicable to tharities preparing their
accounts in accordance with the Financial Reporting Stsndard applicable in UK and Republic of Ireland
(FRS 102). Stoke Newington 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 Bulletin I not to prepa￿ a Statement of Cash Flows.
The accounts are prepared in sterting, which is the fijnctional currency of the charity. 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 include the valuation of investment properbes and certain financial instruments
at fair value. The principal accounting policies are set out below.
(b) Going concern
At the year end, the charity had unrestricted general reserves of £20,000 and rt will contlnue to receive
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 finan￿5 but most
of the challenges have been overcome. Thus, at the time of approving this account. the Trustees have
asonable expertation that the Charity will have sufficient financial resources to continue in operational
existence for the foreseeable future.
(c) Fund accounting
General funds are unrestricted funds whith are available for use at the direttion of the Trustees in
furtherance of the general objectives of the Charfty and whith have not been designated for other
purposes. Restricted funds are ￿ndS 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 agair75t the specific fund. The aim and use of each restrirted fund is set out in
the notes to the flnancial statements where applicable.
(d) Income recognition
All income is recognised once the tharity 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 & depreciatlon recognition
Fixed assets comprise furniture and equipment and musical equipment and have been costing mo
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
usefijl lives on the following bases:
Equipment - 25 ¥0 reducing balance, Furniture & fitting - 25% reduang balance
Page 13

STOKE NEWINGTON MEfHODisf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGU￿ 2024
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 induded when the relevant conditions for the grnnt have been met.
(h) Voluntary Income
Voluntary income comprises donatlons and contribution5 and is accounted for when entitlement has
been confinned, the amount can be measured and receipt is probable.
(l) Rental Income
Rer7tal income from Investment properties is accounted for on a receivable basis.
(i) Other income
Other income is accounted for on receivable basis.
(k) Investment income and interest
Interest on deposits and investments is accounted for on receivable basis
(l) Expenditure
Expenditure is recognised once there is a legal construrtive obligation to transfer economic benefit to a
third party; it is probable that a transfer of economic benefits will be required in settlement and the
arnount of obligation can be measured reliably. Expenditu￿ is classified by activlty. The costs of each
activity are made up of total of direct costs and shared costs, induding support costs involved in
undertaking each artivity.
(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 basis.
(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 Flnancial Reporting Standard for
Smaller Entities (effective 2002).
Page 14

sroKE NE￿N￿rON MEfHODIsf CHURCH
NOTES TO THE Accouftrrs
FOR YEAR ENDED 31 AUGUST 2024
l. Accountlng policies - Continued
(p) Tangible fixed assets depreciation
Assets having an initial cost of £IOOO or less are written off on acquisition. Fixtu￿5 and fittings. office
and computer equipment having an initial cost greater than £IOOO are stated at cost le55 depreciation.
For these accounts all fixtures and fittings have been written off as in the expenditure and not
capitalised.
(q) Cash and cash equivalents
Cash and cash equivalents indude cash in hand, deposits held at call with banks, other 5hort-term
investments with original maturities of three months or less.
(r) Flnancial Instruments
The charity has elected to apply the provison5 of Sethonll 'Basic Financial Instruments. or FRS 102
to all its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity become5 party to
the contractual provisions of the instrument.
Financial a55ets and liabilities are offset, wlth 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 realise the asset and settle the liability simultaneously.
(s) Basic financial assets
Basic financial assets, which indude other debt0￿ and cash and bank balances. are initially measured
at transartion price induding transartion costs and are subsequently carried at amortised cost using
the effective interest method unless the arrangement consb"tutes a financing transaction, where the
transartion is measured at the present valve of the future receipts discounted at a market rate of
interest. Financial assets are classified as re￿1vable within one year are not amortised.
(t) Basic financial liabllities
Basic financial liabilities, including other payables are initially recognlsed at transaction price unless
the arrangement constitutes a financing transaction, where the debt instwment is measured at the
P￿sent value of the future payments discounted at a market rate of interest. Financial liabilitie5
classified as payable within one year are not amortised.
Page 15

sroKE NE￿NGTON IIETHODIST CHURCH
NOTES TO THE AccouTr¥rs
FOR Y&4R ENDED 31 AUGusf 2024
Total
Totsl
nds
Funds
Funds
Funds
2024
2024
l. Church Offerlngs
Offerings
Other
2024
2023
10,770
10,770
9,635
13,093
22,728
10,770
10,770
2. Rental Income
Academic Nursery
Ginger Nursery
Green Lanes Flat
other Room Rentals
2024
2024
2024
2023
78,953
76,150
27.850
10,460
193,413
78,953
76,150
27,850
10,460
193,413
71,903
69,800
8,430
8,486
158,619
2024
3. Donations
Donation5
Other credits
2024
2024
2023
375
288
663
375
288
663
265
150
415
2024
Grant income and Interest
Interest
Grants
2024
2024
1023
2.230
2,230
1,516
5,623
7,139
2,230
2,230
2024
2024
5. Other Income
Other
2024
1023
Page 16

sroKE NEWINGTON HEfHOD15T CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGUST 2024
Totsl
Total
Fvnds
Furbds
Funds
Funds
2024
2024
2024
6. fircuit Assessment
Payment to Methodist chLtrth arcuit
2023
114,520
114,520
93,280
7. Grants and Charity donations
2024
2024
2024
2023
Grants - Benevolent
8. Stipend and staff Cost
2024
2024
2024
2023
Premises and operational manager
6.861
6,861
20.131
9. Cost of acbvitles in furtherance of:
Charity's objects
Telephone and broadband
Church group
Donations
Music licences & envelopes
Insurance
Church expenses
2024
2024
2024
2023
745
2,961
745
2,961
786
1.237
12,323
3,247
1.457
20.733
12,323
3,247
1.457
20,733
10,190
3,187
854
16,253
10. Support costs
2024
2024
2024
2023
Premises costs
Utilities & water costs
Cleaning & waste disposal
Repairs & maintenan
Fees
Dep￿cIatIOn
15,425
43,150
5.506
24,289
127
1,728
90.225
15,425
43,150
5,506
24,289
127
1,728
90,225
12,930
32.940
34,750
139
1,554
85,756
11. Management and governance costs
2024
2024
2024
2023
Accountancy fees
Consultancy fees
2,550
2,550
2,650
2,550
2,550
2.650
Page 17

STOKE HEWIN￿oN MEfHODIsf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGusf 2024
Note5
Total
12. Freehold property
Falr valuation
12
31-Aug
2024
31-Aug
2023
At 31 August 2024
3,514,202
3,514.202
12b. Tangible assets
Totsl
Total
Musical Furniture &
equipment
fittings
31-Aug
2024
31-Aug
2023
At I September 2023
Additions
At 31 August 2024
1,824
4,391
703
6,215
703
6,215
1.824
5,094
6,918
6,215
Depreciation
At I September 2023
Charge for the year
At 31 August 2024
456
456
912
1,098
1,272
2,370
1,554
1,728
3,282
1,554
1,554
Net l>ook value
At 31 August 2024
At 31 August 2023
912
1,368
2,724
3.293
3,636
4,661
4,661
13. Debtors
2024
2023
Debtors balan
4.723
4,723
4,723
4,723
14. Cash balances
2024
2023
Total balance5 held in all current account5 at period end
41,791
41,791
91,946
91,946
15. CFB Balances
2024
2023
CFB Account 08587010
CFB Account 08587020
7,727
33.153
40.880
7,343
31,503
38,845
Page 18

STOKE NEWINGfoN METHODIsf CHURCH
NOTES TO THE ACcOU￿s
FOR YEAR ENDED 31 AUGUST 2024
Note5
16. Creditors
2024
2023
Accrued accountancy fees
Others
Deposit - nursery ￿nt
li
2.550
600
30.095
33.245
2,650
21,834
30,095
54,578
17. Related party transaction
During the year, the charity paid institutional grants to Methodist Churth Circuit such as the
Circuit assessment fees stated in note 6
18. Net Incoming resources/(Resources expended)
This is stated after charging
Accountant's fees
20Z4
2023
li
2.550
2,650
19. Muslc li¢ence & envelopes
2024
2023
Music for services
CCLI licences
Donations envelopes
11,806
517
9.654
535
,323
10,190
20. Utllities
io
2024
2023
Electricity cost
Gas cost
Water cost
16.679
23,661
2.810
43,150
14,564
15.806
2,570
32,940
21. Cleaning & Waste disposal
io
2024
1023
Cleaners costs
Waste disposal to local council
2,219
1.493
3.712
2,219
1,493
3,712
22. Trustees remuneration
During the year, no Trustee received any ￿mUneratiOn
During the year, no Trustee received any benefits in kind
2024
2023
Page 19

sroKE NEWINGTON MEfHODIsf CHURCH
NOTES TO THE ACCOUNTS
FOR YEAR ENDED 31 AUGUST 2024
23. Taxatlon
Stoke Newington Methodist Church 15 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: ￿rrent period
General
Funds
Funds
2024
2023
Freehold Properties
Tangible fixed Asset5
Current assets
Creditors amount falling due within one year
Creditors amount - Deposit for building rent
3,514.202
3,636
87,394
92
33,153
3,571,988
3,514,202
4,661
135,515
24,484
30,095
3,599,799
Page 20