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← Free Methodist Church, Fulwood

2024-12-31-accounts

Fulwood Free Methodist Church

Report and Accounts Year ended 31 December 2024

1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk

FREE METHODIST CHURCH, FULWOOD

also known as FULWOOD FREE METHODIST CHURCH

CHARITY INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Stephen Allen Michael Bedford (appointed 1 September 2025) David Brown Carol Gornall (resigned 30 August 2024) David Hamblin Martin Little (appointed 1 September 2025) Gladys Mahachi (appointed 1 September 2024) Timothy Mitchell (appointed 1 September 2024) Andrew Slack Lucy Sutton (appointed 1 September 2025) Nicola Thorpe (appointed 1 September 2025) Geoff Tomlinson (resigned 31 August 2025) Rev. Ian Winter (resigned 13 December 2024) Sara Wright (appointed 1 September 2025) Key Staff Rev. Ian Winter (until 13 December 2023) Rev. Lawrence Davie Rev. Rebecca Parkinson Custodian Trustees Matthew Johns Dr Philip Johns Governing Document Book of Discipline of the Free Methodist Church (updated 2023) Approved scheme of the Charity Commission dated 21 April 1983 and last amended 9 March

Charity Registration Number 514359 Principal Address Lightfoot Lane and Registered Office Fulwood Preston P32 3LT Independent Examiner Archie McDowall BA CA Stewardship 1 Lamb's Passage London EC1Y 8AB

Page 1

Main Bankers

HSBC Bank plc 49A Fishergate Preston PR1 8BH

Contents Page
Charity Information 1-2
Trustees' Annual Report 3-7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Accounts 11-22
Detailed Statement of Financial Activities with Comparatives 22

Page 2

FREE METHODIST CHURCH, FULWOOD

Trustees’ Annual Report

For the year ended 31 December 2024

Objects of the charity

The furtherance in the area served by the Fulwood Church of the religious and other charitable work of the Free Methodist Church of North America in accordance with the doctrines, disciplines and usages of the Church for the time being as set out in the Book of Discipline

Summary of the charity's main activities and achievements

To further the above objects and vision, the charity’s main activities and achievements were as follows:

The Church's principal activity is to further its objects by providing a centre of Christian worship, of Christian ministry and of support to the wider community based in the Fulwood area of Preston. It does not define the concept of 'Church' in terms of buildings or services, though it owns buildings and holds services, but rather as a worshiping community seeking to serve God and to support the spiritual and practical needs of its members, the people living within its reach and the wider world. To this end, it runs a wide range of activities from its site in Fulwood, supports other Christian activities within its local area and also supports mission focused organisations overseas.

In planning the activities, the trustees have applied the guidance on public benefit issued by the Charity Commission.

The Church’s many activities are managed through Ministry Groups, each of which is led by a Group Leader. Each group reports to the Board and makes minutes of its meetings available to the Board. While it is clear that many activities are aimed at regular church attendees, no activity is “out of bounds” for casual visitors, and some activities are particularly aimed at people who otherwise have no association with the Church.

The Gatherings Team takes care of regular Sunday services and weekly prayer meetings (generally held at 7.00 am, 2.00 pm and 7.00 pm each Tuesday online). Prayer requests are brought from a wide range of sources from worldwide disasters to individuals some of whom have no other contact with the church. Since September 2015, except during Covid, we have held two services each Sunday morning. The second service is live streamed. An additional service is held on Sunday evenings.

The Outreach Team work to extend the message of the Gospel outside the borders of the Church itself. They lead regular events aimed at people enquiring about the Christian Faith, such as the Alpha Course. The team also plans special events from time to time, which are aimed to be of interest to non-Christians. Volunteers from Fulwood are at the forefront of the Street Pastor initiative in Preston. Along with volunteers from other churches, they work with the Police and local authority staff to provide a presence on streets where problems occur. Currently Street Pastors work in several areas of the city. The Church also operates a CAP (Christians Against Poverty) Centre. CAP is a national organisation, based in Bradford, which aims to help anybody who finds their debt situation unmanageable. It is led in Fulwood by a Centre Manager and Debt Coach, who are supported by a number of volunteers, and they liaise with the Bradford Centre, ensuring that correct debt advice is available to clients. This operation from the Fulwood Church aims to help clients living in the Fylde, Longridge, and North Preston. Some clients succeed in becoming debt free.

3

The Childrens, Youth & Families Ministry delivers an energetic programme covering the ages from birth to eighteen. Some activities take place Sunday Morning (Energise and Ignite) while others take place on weeknights. The weeknight activities attract many children and young people who have no other Church connection, some of whom go on to become regular church attendees. They also manage the weekly Toddler Groups and a Bump and Baby groups which meet regularly during term time. Also, a group entitled “Who let the Dads out?” meet monthly on a Saturday mornings. All these activities are open to all comers and are managed by volunteers.

The Discipleship Ministry focuses on new and more mature Christians. They are responsible for the adult and youth Homegroups, which aim to supplement the teaching and fellowship presented at Sunday Services. This group is led by a Discipleship Pastor.

The Friends and Neighbours Ministry probably has the widest impact in the area around the Church, working among non-church people as well as supporting Church attendees in many situations. The Wednesday Lunch Break provides soup and a sandwich for up to 80 people each week, including a group from a local care home specialising in people with significant learning difficulties. We also have a Food Pantry which is kept topped up on a continuous basis so there is always something available in an emergency. This FFMC Food Pantry is linked to similar projects run by the Preston Christian Action Network and the Salvation Army so we are able to cooperate with others in and around Preston. It also supports the CAP Centre (see above) as an important additional resource for clients seeking debt help. A weekly activity known as “Inspirations Crafts” attracts ladies from many backgrounds who simply enjoy the sewing and the company of other likeminded ladies, most of whom have no other connection with the church. This Ministry also supports the “Men’s Breakfast”, where an invited speaker addresses topics of particular relevance to men. Another activity is a weekly carpet bowling group. This has attracted a large cohort of new people and now meets in our main worship area as it offers the largest area for bowling lanes.

The Global Partnership arranges support for many of our mission contacts and in particular allocates the Missions Budget which comprises a minimum of 15% of general church giving. The Team also organises VISA (Volunteers in Service Abroad) Teams. These teams visit the various projects which the church supports and undertake various practical activities while there. Another aspect of our missions’ activity is the Kibogora Initiative that supports the work of Kibogora Hospital in Rwanda. It has its own ring-fenced bank accounts and raises funds under the title Kibogora Initiative. The main source of funds in 2024/25 was a gift day at Fulwood Free Methodist Church and regular monthly gifts many of which are through the sponsor-a-bed appeal. Support was also provided for the Free Methodist Polytechnic in Kibogora. The sponsor-a-pastor scheme has continued to provide scholarships for Rwandans who simply cannot afford to meet their own costs. Funding for this is channelled through the Kibogora accounts, as are other specific gifts for the polytechnic. All the accounts have comprehensive local audit. David Hamblin, one of the Fulwood trustees has now retired from being Vice Chancellor but remains advisor to the Vice Chancellor of Kibogora Polytechnic and remains in contact, providing advice and support. Within Rwanda the Kibogora Initiative is part of the Better Together group which seeks to improve communication amongst the various organisations involved in the hospital. This group includes the UK Free Methodist Conference, the Rwanda Free Methodist Conference, representatives of the Kibogora Free Methodist Church and CAHO (Central African Health Organisation: an American Charity which supports the work at Kibogora). Better Together met in person in November 2024 at Kibogora and members of the Fulwood team attended in person. We also receive quarterly written reports from Kibogora describing activities undertaken.

For Sierra Leone our donations go via the UK based Charity International Aid Trust (Charity Reg No: 1086597); for Rwanda they go to Kibogora Hospital which is regulated and audited by the Rwandan Ministry of Health;

4

and Pan de Vida is an Ecuadorian legally established non-profit organisation with the ministerial agreement MIES 0058 of September 21st 2007, and is also registered as a 501(c)3 foundation in the USA.

Each year we send send a team of people to one of the three overseas projects we support. This allows people in our church to see for themselves how effective the projects are and for us to carry a review of effectiveness.

Structure, Governance and Management

Organisation

Major decisions are discussed and approved at Society Meetings where all church members can vote. Nonmembers who attend the church can attend the Society Meeting but cannot vote. The Board is made up principally of elected trustees. Elected Trustees are appointed by a ballot vote of Church Members at the Annual Society Meeting (typically held in June) or any of the other Society Meetings held at other times. They serve for a period of three years, but there is no limit to the period of service if nominated and re-elected at the end if their three-year term. Additionally, Lay Delegates are affirmed annually. Election requires a 50% majority of the members voting. Nominations are invited from church members three months in advance, closing one month later. If there are no or insufficient nominations at the closing date, the Board is empowered to make nominations as a cooperate body. A Senior Pastor may be appointed by the GB (UK) Conference of the Free Methodist Church. When there is a person appointed to the office of Senior Pastor, the Senior Pastor is ex officio a trustee and is a member of the Board. The Charity Scheme allows for the remuneration of the Senior Pastor. Rev Ian Winter resigned as Senior Pastor in December 2024 and ceased to be a trustee from the date of his resignation. At the time of writing (October 2025) the office of Senior Pastor is still vacant, and the Church has been managed by its elected trustees. The Board meets at least 3 times per year, and at other times if necessary.

The Board delegates Spiritual leadership issues to the Spiritual Leadership Team (SLT) which is made up of two lay delegates, (Lay Delegates attend and vote at the GB Annual Conference of the Free Methodist Church), the Senior Pastor if a person is appointed to that role, plus ordinary members to take the total to a maximum of 8 members. The Board also delegates general management issues to the Administrative Leadership Team (ALT), some of whom are appointed to a specific role (e.g. Church Secretary, Head of Finance) while others are appointed “without portfolio” and are given administrative responsibilities from time to time as agreed by the Board. The Board receives minutes from both the SLT, and the ALT, who can also pass major items back to the Board for final decisions.

In the fourth quarter of the year the Head of Finance heads up a small team to prepare a budget for the following year. This is based on prudent estimates of anticipated income from offerings, together with expected financial requirements which are related to the overall vision of the Church for the following year. This passes to the ALT, the Board and finally to a Society Meeting when the treasurer also presents (unexamined) financial information relating to the previous year.

The Church has taken time to consider the advantages of changing its structure to become a Charitable Incorporated Organisation. The trustees and members are in favour of becoming a CIO using one of the Charity Commission model constitutions. Action to make this change will begin in late 2025 or early 2026.

Financial Review

The Statement of Financial Activities is set out on page 9. Total receipts from unrestricted funds during the year were £396,905. Restricted donations of £84,831 were also received and are detailed in the financial statements. Total expenditure was £438,496. The net result for the year was a surplus of £43,240 compared to a deficit of £72,745 in 2023. The charity’s net assets increased by the same amount, to £2,387,467, of which £2,287,615

5

were unrestricted and can be used for any charitable purpose. Net current assets increased by £52,351 to £475,015, of which £375,163 were unrestricted.

Income is mostly derived from free will gifts made to the church by Church Members and other attendees, some of which is designated to specific causes. This income is supplemented by tax refunds on Gift Aided donations, and occasionally by income from other charities, usually other Christian organisations, or grants from public bodies. The trustees manage incoming resources by a combination of prudent spending within an annual budget which is set by the Finance Committee and approved by the Board and Church Members.

The trustees, by virtue of the regular Board meetings, constantly make judgements and estimates relating to available funds and appropriate allocation of those funds. These are based on regular (four times per year) Income and Expenditure accounts prepared by the Church Treasurer and scrutinised by the Board. Unexpected demands on these funds can then be handled appropriately. The Trustees, through the Treasurer, keep appropriate records which satisfy the legal requirements placed on trustees.

Investments Policy

Funds that are not needed immediately are invested in reputable UK financial institutions covered by the Financial Services Compensation Scheme. Invested money is split between fixed term accounts paying relatively high returns and accounts allowing quick access but paying lower returns.

Reserves Policy

The charity aims to hold a minimum of £165,000 (which is in excess of six months of the Church operating expenditure) as unrestricted cash, so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash and cash equivalent deposits of £367,664.

Key Risks and Uncertainties

The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.

Responsibilities of Trustees under charity law

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

6

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the trustees, and is signed on their behalf by:

==> picture [252 x 149] intentionally omitted <==

----- Start of picture text -----
Name STEVE ALLEN
Signature
SJAllen
SJAllen (Oct 30, 2025 15:59:34 GMT)
Date Oct 30, 2025
----- End of picture text -----

7

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

FREE METHODIST CHURCH, FULWOOD ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 December 2024 on pages 9 to 23 following, which have been prepared on the basis of the accounting policies set out on pages 11 to 13.

Responsibilities and basis of report

As the charity’s trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Archie McDowall

Archie McDowall (Oct 30, 2025 17:44:06 GMT)

Archie McDowall BA CA Institute of Chartered Accountants of Scotland Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: Oct 30, 2025

Page 8

FREE METHODIST CHURCH, FULWOOD

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities
6
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 Unrestricted
Funds
£
352,639
38,965
5,301
396,905
331,978
331,978
-
64,927
(36,990)
27,937
2,259,679
2,287,615		 Restricted
Funds
£
84,831
-
-
84,831
106,517
106,517
-
(21,687)
36,990
15,303
84,548
99,852		 Total
Funds
2024
£
437,470
38,965
5,301
481,736
438,496
438,496
-
43,240
-

43,240
2,344,227
2,387,467		 Total
Funds
2023
Restated
£
397,047
31,743
5,593
434,383
507,661
507,661
-
(73,278)
-
(73,278)
2,417,505
2,344,227

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 11-22 form part of these accounts.

Page 9

FREE METHODIST CHURCH, FULWOOD

BALANCE SHEET

AS AT 31 DECEMBER 2024

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Investments
10
Cash at bank and in hand
11
CREDITORS: Amounts falling
due within one year
12
Net current assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
14
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
1,912,452
1,912,452
21,060
170,000
197,664
388,724
(13,561)
375,163
2,287,615
2,244,205
43,411
2,287,615
-
2,287,615		 Restricted
Funds
£
-
-
4,857
-
94,995
99,852
-
99,852
99,852
-
-
-
99,852
99,852		 Total
Funds
2024
£
1,912,452
1,912,452
25,917
170,000
292,659
488,576
(13,561)
475,015
2,387,467
2,244,205
43,411
2,287,615
99,852
2,387,467		 Total
Funds
2023
Restated
£
1,921,563
1,921,563
52,619
-
390,422
443,042
(20,378)
422,664
2,344,227
2,259,678
-
2,259,678
84,549
2,344,227

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

SJAllen

SJAllen (Oct 30, 2025 15:59:34 GMT)

STEVE ALLEN

Oct 30, 2025 Date: _______

Charity number: 514359

The notes on page 11-22 form part of these accounts.

Page 10

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Statutory Information

The charity is a trust registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention as modified by the revaluation of certain assets, which are measured at fair value through the Statement of Financial Activities.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The previous year's results, which are stated for the purposes of comparison, have been restated following the identification of an error in the preparation of the financial statements for the year to 31 December 2023. This is referred to in notes 6, 11, 12 and 14 below.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

Page 11

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2 Accounting Policies (continued)

iii) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church retreats and other events and courses.

Investment income represents income generated by the charity's assets and includes income from bank interest.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £250 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use)
Freehold buildings Is not depreciated (because it is not consumed by use)
Fixtures, fittings & equipment 20% per annum reducing balance or 10% per annum straight line
Office equipment over 3 years straight line
Motor vehicles 25% per annum reducing balance

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

Page 12

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2 Accounting Policies (continued)

g) Pension scheme arrangements

The charity operates defined contribution pension schemes for its employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

h) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

i) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

j) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

k) Critical accounting estimates and areas of judgement

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations and legacies

Donations of cash and similar
Legacies receivable
Gift aid recoverable		 2024
£
316,932
56,500
64,038
437,470		 2023
£
330,272
-
66,775
397,047

4 Income from charitable activities

Income from charitable activities
Church events and activities
Community outreach activities
Use of premises
Other income
Investment income
Bank interest		 2024
£
15,676
14,710
7,138
1,441
38,965
2024
£
5,301
5,301		 2023
£
4,778
21,154
5,811
-
31,743
2023
£
5,593
5,593

5 Investment income

Page 13

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6 Charitable expenditure

a
Costs incurred directly on specific activities
Salaries, travel and expenses
Telephone and utilities
Cost of services
Catering
Childrens & youth ministry
Outreach ministy
Other ministry costs
Conference levy
Repairs & maintenance
Miscellaneous expenses
Grants payable (note 6c)		 2024
£
186,768
19,004
12,012
8,574
12,941
15,351
23,221
12,108
19,328
-
309,306
83,016
392,322		 2023
£
199,229
18,734
10,033
13,826
10,784
8,285
2,836
13,071
15,424
434
292,656
169,696
462,352

Costs incurred on Salaries, Travel and Expenses in the financial year ended 31 December 2023 have been restated due to the identification of an error in the financial statements for the prior year.

b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other
Office and administration
Subscriptions and professional fees
Bank fees and charges
Depreciation of tangible fixed assets
Insurance
Total expenditure		 4,440
570
5,010
6,624
2,652
1,550
22,705
7,633
46,173
438,496		 8,190
-
8,190
5,752
3,365
1,158
23,681
3,163
45,309
507,661

The fee payable to the independent examiner for preparing and examining the accounts was £4,440 (2023: £8,190).

c Grants payable

Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty		 Institutions
£
66,736
1,080
67,816
Institutions
£
137,956
18,943
156,899		 Individuals
£
8,908
-
8,908
Individuals
£
4,277
-
4,277		 2024
£
75,644
1,080
76,724
2023
£
142,233
18,943
161,176

Page 14

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6 Charitable expenditure (continued)

The charity's principal grants to institutions comprised:

charity's principal grants to institutions comprised:
Kibogora
International Aid Trust
Christians Against Poverty
Overseas Missionary Fellowship
Pan de Vida
Tearfund
Open Doors
Cedar House
Preston Street Pastors
Sports Reach
Support Ukraine
Safe Families for Children
Grants to institutions for less than £1,000 each		 2024
£
37,779
4,735
-
-
9,792
1,080
1,040
3,050
3,000
2,000
-
5,040
300
67,816		 2023
£
95,474
14,000
11,052
7,500
7,000
6,000
4,000
3,186
3,000
2,000
1,801
1,000
886
156,899

7 Analysis of staff costs, the cost of key management personnel and trustee remuneration

The average monthly number of employees during the year was 8 (2023: 11). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:

Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Rev. Ian Winter
46,899
-
3,752
Other members of key management		 2024
£
50,651
67,973
118,624

The following amounts were payable in the previous year:

Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Rev. Ian Winter
44,342
-
3,547
Other members of key management		 2023
£
47,889
69,895
117,784

Rev. Ian Winter served as the churh's Senior Pastor and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.

Page 15

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8 Tangible fixed assets

Cost or valuation
At 1 January 2024
Additions
At 31 December 2024
Accumulated depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Land and
buildings
£
1,813,757
6,600
1,820,357
-
-
-
1,820,357
1,813,757		 Fixtures,
fittings and
equipment
£
370,208
6,994
377,202
265,461
21,881
287,342
89,859
104,747		 Office
equipment
£
11,465
-
11,465
8,406
824
9,230
2,235
3,059		 Total
2024
£
2,195,430
13,594
2,209,024
273,867
22,705
296,572
1,912,452
1,921,563

The original Land and Church buildings were revalued and included in the accounts at valuation for insurance purposes as at 31 Deecember 1997. All additions since that date have been included at cost. No information about original cost is available.

9 Debtors

tors
Gift aid recoverable
Other debtors
Prepayments and accrued income
ent asset investments
Cash equivalent deposits		 2024
£
10,815
220
14,883
25,917
2024
£
170,000
170,000		 2023
£
49,226
-
3,393
52,619
2023
£
-
-

10 Current asset investments

Page 16

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

11 Cash at Bank and in Hand

h at Bank and in Hand
Cash at bank with immediate access
Petty cash		 2024
£
292,546
113
292,659		 2023
Restated
£
389,858
565
390,422

Cash at bank with immediate access as at 31 December 2023 has been restated following the identification of an error in the financial statements for the year ended 31 December 2023.

12 Creditors: liabilities falling due within one year

itors: liabilities falling due within one year
Taxation and social security
Other creditors
Accruals		 2024
£
3,594
5,527
4,440
13,561		 2023
£
Restated
10,137
641
9,600
20,378

Creditors owed for Taxation and Social Security as at 31 December 2023 has been restated following the identification of an error in the financial statements for the year ended 31 December 2023.

13 Pension commitments

During the year employer’s pension contributions totalling £12,315 (2023: £15,616) were payable to defined contribution personal pension schemes. Pension contributions of £1,356 were owing at the balance sheet date (2023: £261).

Page 17

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Development Fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Food Bank Community
Christians Against Poverty
Cedar House
Leaving Gifts
Anna Snalam
Kibogora
Pan de Vida
Craft Inspirations
India
Sierra Leone
Global Partnership
Kez Watkins
Visa Teams
Other small funds
Aggregate of funds		 Opening
balance
2024
£
-
-
2,259,679
2,259,679
1,359
20,439
-
634
204
48,384
3,562
2,376
1,775
4,602
-
-
-
1,213
84,549
2,344,227		 Incoming
resources
2024
£
57,005
57,005
339,900
396,905
-
12,163
53
-
7,126
28,441
9,327
-
-
-
9,354
2,365
16,003
-
84,831
481,736		 Outgoing
resources
2024
£
-
-
(331,978)
(331,978)
-
(16,702)
(3,050)
-
(8,908)
(37,954)
(9,807)
-
-
(4,735)
(11,376)
(2,355)
(11,631)
-
(106,517)
(438,496)		 Transfers
in the year
2024
£
(13,594)
(13,594)
(23,396)
(36,990)
-
7,000
3,040
-
1,578
4,500
-
-
-
133
16,389
1,500
2,850
-
36,990
-		 Gains and
losses
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2024
£
43,411
43,411
2,244,205
2,287,615
1,359
22,900
43
634
-
43,371
3,081
2,376
1,775
-
14,367
1,510
7,222
1,213
99,852
2,387,467

Page 18

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Funds (continued)

The transfers referred to above were made for the following reasons:

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Investments held as current assets
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
1,912,452
-
21,060
-
170,000
-
154,254
43,411
(13,561)
-
2,244,205
43,411
Unrestricted Funds		 Restricted
funds
£
-
4,857
-
94,995
-
99,852		 2024
£
1,912,452
25,917
170,000
292,659
(13,561)
2,387,467

Page 19

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Funds (continued)

In the previous year the movements in the charity's funds were as follows:

Designated Funds
Development Fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Food Bank Community
Christians Against Poverty
Cedar House
Leaving Gifts
Anna Snalam
Kibogora
Pan de Vida
Craft Inspirations
India
Sierra Leone
Other small funds
Aggregate of funds		 Opening
balance
2023
£
-
-
2,311,689
2,311,689
1,529
22,784
-
1,709
-
64,997
(467)
2,212
1,775
9,682
1,595
105,816
2,417,505		 Incoming
resources
2023
£
-
-
299,196
299,196
(170)
22,431
3,186
5,914
4,340
79,094
11,029
185
-
8,919
259
135,188
434,383		 Outgoing
resources
2023
£
-
-
(351,206)
(351,206)
-
(24,776)
(3,186)
(6,988)
(4,135)
(95,708)
(7,000)
(21)
-
(14,000)
(641)
(156,455)
(507,661)		 Transfers
in the year
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Gains and
losses
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Closing
balance
2023
Restated
£
-
-
2,259,679
2,259,679
1,359
20,439
-
634
204
48,384
3,562
2,376
1,775
4,602
1,213
84,549
2,344,227

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
1,921,563
-
40,573
-
317,920
-
(20,378)
-
2,259,678
-
Unrestricted Funds		 Restricted
funds
£
-
12,046
72,503
-
84,549		 2023
Restated
£
1,921,563
52,619
390,422
(20,378)
2,344,227

Page 20

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

14 Funds (continued)

The expenditure attributable to the General Fund for the year ended 31 December 2023 has been restated, along with the balance of net current assets as at 31 December 2023, following the identification of an error in the financial statements for the year ended 31 December 2023.

The Development Fund is designated by the trustees for exceptional projects, such as further enhancements to the Fulwood site or church planting in another community.

The Food Bank Community a reserve of money that has been given from time to time to provide short term food relief (principally) to CAP clients who need emergency food help while CAP help to resolve their wider problems.

The Christians Against Poverty Fund reflects the church's long-standing partnership with CAP. It employs a worker (Linda McGuinness) to work on behalf of CAP with financially distressed clients within the local community. Occasionally, it holds gift days for funds to support Linda’s costs. A surplus is retained in this fund to provide a robust buffer for these salary and other costs in the event of a downturn in giving.

The Cedar House Fund supports a counselling centre in Preston operated by Christians but proving services to anyone in need of help.

The Leaving Gifts Fund is made up of any money collected specifically as leaving gifts for staff, ministers or others when they move on from association with the church. Any balance in this fund should be transitory as we aim to pay out shortly after receipt.

The Anna Snalam Fund supports a previous church member who has moved on to become a full-time Chirstian worker in Wales. The church contributes to the cost of her work there.

The Kibogora Fund reflects the church's long-term relationship with Christian work in the Kibogora area of Rwanda. This started as support for the establishment of a hospital and progressed to include the development of a Christian polytechnic. The church supports the ongoing costs of both undertakings, with some of the gifting received being specifically targeted at supporting the training of Christian ministerial candidates, for whom there is no locally available financial support.

The Pan de Vida Fund supports a Christian charity based in Quito, Ecuador operating in the city and some other areas around the country. It is a charity registered in Ecuador and the USA. It provides food, health, education and support services to the poor of its region. It also assists people to establish small businesses and to become self-sufficient.

The Sierra Leone Fund supports the work of International Aid Trust in Sierra Leone.

The Craft Inspirations Fund supports the costs of running craft-based outreach activities within the church.

The India Fund has been used to support the work of a partner organisation in India.

The Kez Watkins Fund supports the work of a church member who is working with Youth With A Mission in Norway. The church is contributing to the cost of supporting her to do this work.

The Global Partnership Fund supports the churchs's giving to external charitable activities that are not part of any other specific named fund.

The VISA Teams Fund reflects the income and expenditure for the church teams sent out as 'Volunteers in Service Overseas' to work alongside our partner projects in other countries, typically once a year.

Page 21

FREE METHODIST CHURCH, FULWOOD

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Except as disclosed in note 7 'Analysis of staff costs', there have been no other transactions with related parties during the year.

Page 22

FREE METHODIST CHURCH, FULWOOD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Total Expenditure
Net income/(expenditure)
Transfers between funds
14
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
14		 General
2024
£
295,635
38,965
5,301
339,900
331,978
331,978
7,922
(23,396)
(15,474)
2,259,679
2,244,205
Unrestric		 Unrestric Designated
2024
£
57,005
-
-
57,005
-
-
57,005
(13,594)
43,411
-
43,411
ted funds		 Restricted
2024
£
84,831
-
-
84,831
106,517
106,517
(21,687)
36,990
15,303
84,548
99,852		 Total
2024
£
437,470
38,965
5,301
481,736
438,496
438,496
43,240
-
43,240
2,344,227
2,387,467		 General
2023
£
261,860
31,743
5,593
299,196
351,206
351,206
(52,010)
-
(52,010)
2,311,689
2,259,679
Unrestric		 Unrestric Designated
2023
£
-
-
-
-
-
-
-
-
-
-
-
ted funds		 Restricted
2023
£
135,188
-
-
135,188
156,455
156,455
(21,268)
-
(21,268)
105,816
84,548		 Total
2023
£
397,047
31,743
5,593
434,383
507,661
507,661
(73,278)
-
(73,278)
2,417,505
2,344,227

Page 23