REGISTERED CHARITY NUMBER: 514360
GARSTANG FREE METHODIST CHURCH
TRUSTEES' REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Xeinadin Dalton House
9 Dalton Square LANCASTER LA1 1WD
GARSTANG FREE METHODIST CHURCH
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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Page
Reference and Administrative Details 1
Trustees' Report 2 to 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10 to 16
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GARSTANG FREE METHODIST CHURCH
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024
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Trustees Mrs K Caunce
Miss R Corkish
Mrs A Fearnhead
Mr J Fisher
Mrs S Kelsall
Mrs H Sowerby (appointed 27/6/2024)
Mrs E Stanton (appointed 27/6/2024)
Mr M Thornton
Mrs R Thornton (resigned 27/6/2024)
Mr P Wells
Mr P Yates (resigned 27/6/2024)
Principal address Windsor Road
Garstang
PRESTON
PR3 1ED
Registered charity number 514360
Independent examiner Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD
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GARSTANG FREE METHODIST CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Objectives and activities
The object of the Free Methodist Church is the furtherance of the religious and other charitable works of the Free Methodist Church of North America.
The Trustees fully appreciate the wide range of ages and needs within the fellowship and the community. They are committed to providing an environment which encourages people to live out their Christian faith. This is done in the first instance through worship and prayer, Bible teaching and pastoral care but there are also opportunities for people to express their faith in word and deed within the wider community.
The primary purpose of the church is discipleship: for each of us to be disciples and to make disciples, within the church and without, in the local community and beyond.
When planning the church's activities the Trustees have considered the Charity Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
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GARSTANG FREE METHODIST CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance Worship
The Pastors and leadership have tried to provide a balanced form of worship which appeals to all age groups in our two regular Sunday services. To that end we have a mix of music styles provided by a group of musicians from within the fellowship. These musicians themselves reflect the range of ages within the fellowship. A youth band also provides worship at services particularly aimed at the young people.
We have a significant number of young families in the church and hold Sunday School during the morning service and a crèche for children under school age. However, the leadership do feel it is important that the children are also made to feel part of the whole fellowship so they remain in the early part of the morning service where they can join in the worship and enjoy a short story to suit the age group before going to Sunday School or crèche. The leadership believe that the family aspect of church is very important and an 'All Age' Service is held on a regular basis.
The Sunday evening service tries to reflect the different needs and preferences within the congregation. It is usually a less formal service and takes a variety of different forms. It sometimes offers the opportunity to share from personal experience.
Bible teaching
This is seen as an essential part of the church's ministry and is an important part of the Sunday services
Sermons are preached by our own pastors and lay preachers as well as visiting speakers. Some of the young people within the fellowship are given opportunity to speak when it is recognised that they are gifted in this area.
Prayer
Prayer is considered a must for a healthy church and there are many opportunities for people to join in corporate prayer. We hold a prayer meeting each Tuesday.
There is also opportunity for prayer in the small groups which meet regularly in a variety of locations in the area. A prayer team is available to pray for those who have particular needs and request prayer. A prayer room is available within the church building for private prayer at any time and is used for prayer needs at the end of each Sunday service.
Work with children
In addition to the Sunday School, there are other activities for children of different age groups:
Toddle In meets on Thursday morning and provides opportunity for parents / carers with toddlers to meet and relax. Its reputation is such that local agencies often refer young parents to it.
Kidz Klub, for children in school years 1-4, meets on Tuesday evenings in term time. Their regular activities include games, Bible stories and crafts.
Connect, for children in school years 5-7, meets on Friday evening in term time. Again their regular activities include games, Bible stories and crafts.
Annually, there is an organized weekend away for Kidz Klub and Connect children using the facilities of a local Boys' Brigade.
We also annually hold a holiday club for children aged five to 11 on five successive mornings in August. This is available to children from church families as well as others from the local community. Activities in both of these events include music, drama, crafts and Bible teaching.
Work with teenagers
Youth for those in school year 8 and above meets on a Friday evening and involves a variety of activities. We alternate between games nights, worship + word and chill nights. We organise regular external activities and have an annual, residential weekend away.
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GARSTANG FREE METHODIST CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Rooted is a group for those who wish to go deeper into the Bible and look at bigger topics aside from a Friday evening. It is held on Sunday evenings, which also encourages our youth to come along to the evening service before the meeting.
Footprints is a weekly Sunday group that meets during the morning service and is for school years 7 and 8. This provides specific Bible content with leaders who help with the transition to high school and youth and also in being a more central part of our Sunday worship.
Work with the elderly
As part of our service for older people we have Friday Focus which meets every Friday morning. Our aim is to provide a space for spiritual growth, fellowship, and emotional support. Each week of the month has a different focus. Focus on Prayer is when we pray for each other, the church, our community and beyond. Focus on People is when we invite those within our group, the church and the community to share their life stories, their work, God's leading, their role in the church or community etc. Focus on Film offers a time to invite others to watch a film with spiritual content. This is followed by a light lunch which gives time for discussion and development of friendships. Focus on the Bible allows time for further spiritual growth and open discussion. When there is a fifth Friday in the month we either have a time of worship enjoying our favourite Christian songs or we have some light entertainment such as games or craft activities.
On issues of pastoral care, it is recognised that some areas need to be dealt with by the pastors but others can be undertaken by lay members of the church. Pastors visit those who are in hospital or bereaved but other visits are undertaken by trusted volunteers. The pastoral team will visit those who are housebound on a monthly basis as well as those who the pastors feel would benefit from a visit.
A wheelchair is available in the church and a loop system is fitted for those with hearing difficulties. Of particular benefit in small group situations have been the six portable loop hearing systems that were purchased some time ago. We have also purchased a walker which is kept in the church for anyone who might need it.
Work with adults
There are currently 14 life groups that meet on a regular basis for study, prayer and fellowship together. There are approximately 70-75% of members and regular attenders of GFM who have connections with these groups. Some groups meet on the church premises but many meet in homes. Life groups are both interest and age based and meet on a variety of days and times to provide something for everyone. Individuals are free to choose a group that best meets their particular needs, but the Adult Director can help to point individuals to particular groups with spaces for new members. Our aim, wherever possible is to keep life group size to 12-14 members to ensure that all those in the group have opportunity to share and participate in their meeting times together. We are very blessed to have 26 individuals who are committed to leading/co-leading our life groups.
Recently, our life groups have committed to a missional focus where group members pray intentionally and offer practical support where possible to the mission focus they have chosen. Some groups are connected to church outreach activities such as Alpha and Toddle In, while others support charitable community organisations or specific individuals in the mission field abroad. Having a missional focus has encouraged all of our life groups to look beyond ourselves and to building God's kingdom through partnerships with others seeking to do the same.
When the need arises, groups are organised to introduce seekers to the Christian faith, disciple new Christians in their faith and promote Christian values in relationships and marriage. The fellowship continues to participate in workshops and course teaching and encouraging intentional faith and witness. 13 missional bands have been established. These are small groups of 3-4 individuals who meet regularly to have intentional faith conversations followed by prayer. The aim is to encourage one another to continue growing in their faith and become more confident in demonstrating that faith in everyday life and experiences. These activities and life groups actively promote whole life discipleship among believers.
There are a variety of outreach activities run by volunteers from the church membership. Some members continue to support Ukrainian families in the area offering friendship, advice and help as appropriate. Several members volunteer with a local food bank hosted by another area church. Others still, promote outreach through both men's and women's fellowship activities that are open to others not connected to the church.
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GARSTANG FREE METHODIST CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
There is a monthly Craft Café at GFM for adults run by a small team of GFM members but open to anyone who enjoys crafting activities. The majority of attenders are not connected to the church and so this provides an outreach opportunity to witness while enjoying crafting, refreshments and conversation together. Average attendance is around 15-20 at these meetings.
There is also a very popular weekly Welcome Café offering a light lunch and the opportunity to share conversation and friendship with others. This is very well attended by both church members and others from the local community. Average attendance is around 70 for lunch.
Many members support these projects and activities with regular gifts of time, money and prayer.
Mission
The church recognises its responsibility to encourage and support the world wide church and has given, from its income, money towards mission work in Greece, Hungary and Ukraine. It has also made many donations towards the work of national and international Christian mission work including, but not limited to: Cedar House counselling service in Preston, The Christian Institute, Christian Motorcyclists Association, Pakistan, Good News for Everyone (formerly the Gideons), Grace Ministries and NISCU.
In addition to all of this, special collections are made during Christmas, Easter and Harvest services to support worthy and topical causes, most recently towards WorldShare, an orphanage in Hungary and a local food bank.
The church has been further developing its relationship with a Christian ministry in Ukraine, with further ongoing support over the past few years. We have raised funds as a church, and many members have given additional gifts to support the work in Ukraine, in particular the development of a drug rehabilitation centre.
Early 2022, when Russia invaded Ukraine, we raised funds to help with this crisis, to provide aid to those on the ground in Ukraine and to provide resources to those who had been displaced. This has been ongoing through 2023 and 2024. Our mission partners fled Ukraine in 2022 and transitioned to Garstang for a period of 10 months, but they have since returned and we continue to support their ministry work.
Thornton Light & Life Church
In 2017 the church plant into Thornton was officially launched. Over the years it has grown, with a large core of committed members, and its own leadership team which was established to manage the direction and day to day running of the church, while remaining under the responsibility and oversight of the Trustees of Garstang Free Methodist Church.
In March 2022, Thornton Light & Life Church was established as a separate society. Garstang Free Methodist Church continues to partner with Thornton Light & Life, providing practical, spiritual and financial support, with financial commitment made until the end of 2026.
Volunteers
We would like to thank all the volunteers who work tirelessly to make the church the loving fellowship it is. It would be wrong to single out anyone for special mention but we do want to acknowledge that everything that is done is an expression of the love and commitment everyone has for the Lord, the fellowship of believers and the wider community in which we live.
The church is aware of, and takes seriously its safeguarding responsibilities and, where appropriate, volunteers are DBS checked. A specialist external advisor has designed our safeguarding policies and relevant training is compulsory.
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GARSTANG FREE METHODIST CHURCH
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Financial review
The attached financial statements give a breakdown of the income and expenditure of the charity during 2024 and show that the charity ended 2024 with free reserves of £154,370 (2023: £159,218). It is the policy of the charity to maintain the free reserves at a level equivalent to approximately two months of expenditure to cover church running costs should income fall.
The amount recovered from HMRC through the Gift Aid scheme was £23,876 (2023: £33,127). This continues to be a crucial source of income for the church.
Structure, governance and management
Governing document
The main governing document of the Charity is the Trust Deed dated 21 April 1983.
In 2017 the Church Membership voted to adopt a new structure for governance and management of the church and its ministries. The Church Leadership Team (CLT), which had been comprised of trustees who worked alongside the pastors to lead the church as well as its individual ministries, was replaced with two new bodies: the Trustees and the Ministry Leadership Team (MLT).
The church is governed by the Trustee Board which is comprised of two lay delegates, a finance director, a fabric director and five trustees. All are trustees of the Church and work closely with the pastors in promoting the whole mission of the Church to provide pastoral care, an evangelistic outlook, opportunity for fellowship and awareness of the needs of the Church worldwide. The purpose of the Trustees is to provide governance and to empower the pastoral team to fulfil the Church mission statement, to be "a Christian community discipling all generations".
The Trustees are also responsible for the upkeep of the Church properties (which comprise the church building on Windsor Road and the Meadow Park manse) and to manage and monitor the finances of the Church.
The lay delegates represent the church in the UK Free Methodist conference where they and the pastors have voting rights.
Election to the Trustee Board takes place annually in June. Trustees are initially appointed for a twelve month term, and then if re-elected can choose to serve for terms of between 12 months and three years, in order to stagger the dates on which appointments are made. In 2024 the Trustees adopted a new policy whereby any trustee holding a general position should stand down after serving seven years, to enable more opportunities for people willing to serve (finance and fabric directors could serve longer if there was nobody else identified to take on those positions).
Ministry Leaders are appointed by the pastors and ratified by the Church Membership at the ASM. They undertake supervision of specific ministry areas including Children, Youth, Adult, Seniors and Worship, and seek to fulfil the Church's mission statement through those ministries.
Rev Ian Heath served as Lead Pastor for the church until his resignation August 2024; thereafter Rev Andy Woof served as acting Lead Pastor. Mr Jacob Taylor was appointed as Families and Young People's Worker in October 2024.
The local church is answerable to the UK conference of the Free Methodist Church which is led by National Leader Rev John Townley.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mr J Fisher - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GARSTANG FREE METHODIST CHURCH
Independent examiner's report to the trustees of Garstang Free Methodist Church
I report to the charity trustees on my examination of the accounts of Garstang Free Methodist Church (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
T M Preece F.C.C.A
Xeinadin Dalton House 9 Dalton Square LANCASTER LA1 1WD
Date: .............................................
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GARSTANG FREE METHODIST CHURCH
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Notes Income and endowments from Donations and legacies Charitable activities Church activities Investment income 2 Other income Total Expenditure on Charitable activities Church activities Pine Grove Total NET INCOME/(EXPENDITURE) Transfers between funds 8 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 193,641 50 1,272 - 194,963 220,864 - 220,864 (25,901) 5,447 (20,454) 1,534,369 1,513,915 |
Restricted funds £ 20,874 - 1,369 - 22,243 25,287 - 25,287 (3,044) (5,447) (8,491) 86,144 77,653 |
2024 Total funds £ 214,515 50 2,641 - 217,206 246,151 - 246,151 (28,945) - (28,945) 1,620,513 1,591,568 |
2023 Total funds £ 237,043 370 1,458 83,203 322,074 212,431 2,230 214,661 107,413 - 107,413 1,513,100 1,620,513 |
|---|---|---|---|---|
The notes form part of these financial statements
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GARSTANG FREE METHODIST CHURCH
BALANCE SHEET 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 5 Current assets Debtors 6 Cash at bank Creditors Amounts falling due within one year 7 Net current assets Total assets less current liabilities NET ASSETS Funds 8 Unrestricted funds Restricted funds Total funds |
Unrestricted funds £ 1,359,545 25,507 155,969 181,476 (27,106) 154,370 1,513,915 1,513,915 |
Restricted funds £ - - 77,653 77,653 - 77,653 77,653 77,653 |
2024 Total funds £ 1,359,545 25,507 233,622 259,129 (27,106) 232,023 1,591,568 1,591,568 1,513,915 77,653 1,591,568 |
2023 Total funds £ 1,375,151 36,195 234,840 271,035 (25,673) 245,362 1,620,513 1,620,513 1,534,369 86,144 1,620,513 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mrs S Kelsall - Trustee
The notes form part of these financial statements
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GARSTANG FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% Straight Line (improvements only) Fixtures and fittings - 20% Reducing balance
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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GARSTANG FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
2. Investment income
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||||
|---|---|---|
|2024|2023|
|£|£|
|Deposit account interest|2,641|1,458|
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3. Trustees' remuneration and benefits
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
4. Comparatives for the statement of financial activities
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|||||
|---|---|---|---|
|Unrestricted|Restricted|Total|
|funds|funds|funds|
|£|£|£|
|Income and endowments from|
|Donations and legacies|209,981|27,062|237,043|
|Charitable activities|
|Church activities|370|-|370|
|Investment income|1,458|-|1,458|
|Other income|83,203|-|83,203|
|Total|295,012|27,062|322,074|
|Expenditure on|
|Charitable activities|
|Church activities|186,886|25,545|212,431|
|Pine Grove|-|2,230|2,230|
|Total|186,886|27,775|214,661|
|NET INCOME/(EXPENDITURE)|108,126|(713)|107,413|
|Transfers between funds|570,586|(570,586)|-|
|Net movement in funds|678,712|(571,299)|107,413|
|Reconciliation of funds|
|Total funds brought forward|855,657|657,443|1,513,100|
|Total funds carried forward|1,534,369|86,144|1,620,513|
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GARSTANG FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
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5. Tangible fixed assets
Fixtures
Freehold and
property Equipment fittings Totals
£ £ £ £
Cost
At 1 January 2024 1,392,554 138,019 113,068 1,643,641
Additions - 7,184 - 7,184
At 31 December 2024 1,392,554 145,203 113,068 1,650,825
Depreciation
At 1 January 2024 56,032 100,016 112,442 268,490
Charge for year 13,628 8,899 263 22,790
At 31 December 2024 69,660 108,915 112,705 291,280
Net book value
At 31 December 2024 1,322,894 36,288 363 1,359,545
At 31 December 2023 1,336,522 38,003 626 1,375,151
6. Debtors: amounts falling due within one year
2024 2023
£ £
Gift Aid recoverable 23,860 33,127
Prepayments 1,647 3,068
25,507 36,195
7. Creditors: amounts falling due within one year
2024 2023
£ £
Taxation and social security 750 997
Other creditors 26,356 24,676
27,106 25,673
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GARSTANG FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
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8. Movement in funds
Net Transfers
movement between At
At 1/1/24 in funds funds 31/12/24
£ £ £ £
Unrestricted funds
General Fund 1,479,332 (4,101) 5,447 1,480,678
- -
Building Fund 33,237 33,237
- -
Kingdom Ministries 21,800 (21,800)
1,534,369 (25,901) 5,447 1,513,915
Restricted funds
-
Specified Gifts 19,920 (4,413) 15,507
Building Fund 48,860 1,369 (5,447) 44,782
Pine Grove 17,364 - - 17,364
86,144 (3,044) (5,447) 77,653
TOTAL FUNDS 1,620,513 (28,945) - 1,591,568
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General Fund 194,963 (199,064) (4,101)
-
Kingdom Ministries (21,800) (21,800)
194,963 (220,864) (25,901)
Restricted funds
Specified Gifts 20,874 (25,287) (4,413)
-
Building Fund 1,369 1,369
22,243 (25,287) (3,044)
TOTAL FUNDS 217,206 (246,151) (28,945)
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GARSTANG FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. Movement in funds - continued
Comparatives for movement in funds
| Unrestricted funds General Fund Building Fund Kingdom Ministries Restricted funds Specified Gifts Building Fund Pine Grove TOTAL FUNDS |
At 1/1/23 £ 822,420 33,237 - 855,657 19,603 613,453 24,387 657,443 1,513,100 |
Net movement in funds £ 108,126 - - 108,126 317 1,200 (2,230) (713) 107,413 |
Transfers between funds £ 548,786 - 21,800 570,586 - (565,793) (4,793) (570,586) - |
At 31/12/23 £ 1,479,332 33,237 21,800 1,534,369 19,920 48,860 17,364 86,144 1,620,513 |
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Restricted funds Specified Gifts Building Fund Pine Grove TOTAL FUNDS |
Incoming resources £ 295,012 25,862 1,200 - 27,062 322,074 |
Resources Movement expended in funds £ £ (186,886) 108,126 (25,545) 317 - 1,200 (2,230) (2,230) (27,775) (713) (214,661) 107,413 |
|---|---|---|
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GARSTANG FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
8. Movement in funds - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General Fund Building Fund Kingdom Ministries Restricted funds Specified Gifts Building Fund Pine Grove TOTAL FUNDS |
At 1/1/23 £ 822,420 33,237 - 855,657 19,603 613,453 24,387 657,443 1,513,100 |
Net movement in funds £ 104,025 - (21,800) 82,225 (4,096) 2,569 (2,230) (3,757) 78,468 |
Transfers between funds £ 554,233 - 21,800 576,033 - (571,240) (4,793) (576,033) - |
At 31/12/24 £ 1,480,678 33,237 - 1,513,915 15,507 44,782 17,364 77,653 1,591,568 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund Kingdom Ministries Restricted funds Specified Gifts Building Fund Pine Grove TOTAL FUNDS |
Incoming resources £ 489,975 - 489,975 46,736 2,569 - 49,305 539,280 |
Resources Movement expended in funds £ £ (385,950) 104,025 (21,800) (21,800) (407,750) 82,225 (50,832) (4,096) - 2,569 (2,230) (2,230) (53,062) (3,757) (460,812) 78,468 |
|---|---|---|
Transfers between funds
The transfer from restricted to unrestricted funds (Building fund to General funds) represents capital expenditure on new or replacement equipment acquired from the Building fund. As the terms of any Building fund gift are met once the asset is acquired, therefore allowing the charity to use the asset on an unrestricted basis for any charitable purpose.
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GARSTANG FREE METHODIST CHURCH
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
9. Related party disclosures
There were no related party transactions for the year ended 31 December 2024.
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