Company number: N1072101 Chttrify numb•r". 102256 THE IhESLEY TRUST IHIGH STrEET METhODIST) LURGAN (A COMPANY LthIED BY GUARANTEEI ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR EMDEO 31 DECEMBER 2022
Th• W••l•y Tnt {Hlgh Str••t M•llv•(l•l) Lwg•n ArHwl repwt aThlthwuditodfr*ncial ¥tatomonts for th? y•ar•nd•d 31 D•¢•mb•r 2022 Pag88 Contents Adnwnl8tra.¥e datall8 OirKbr8' Annual I Strakngic R•port Indopond8nt Examln6ts report to Ihe Dlr8¢tr)rs Slatsmontof fin•nc4AI actilieS I Income and 8xp•ndlluro a¢wunl Balance sheet Note8 lo lh8 annual Ilnandal 8tstement8 10- 11
Th• Wo•hy Trntst IHigh Str••t M8thothot) Lwgln Admlnlstratlv• dot•llo Charity Name: Thé Wéslèy Trust (High Streat Methodist) Lurgan Charity Règistrats'on Number. 102256 Company Regl$tralon Number. N1072101 The (MpanY l• Ilftwted byguarantsè and eon5equondy doe8 not havo 8h8re capbtal. Regislared Office: 21 High Stre81, Lurgan, Co Afflgh. 8T66 8AA Diréctsr8 Rev Harol¢J 4new ICh8lmanl Rev Shaun C1818nd Irane Dick8on Dawd 88sl Andrew Cla8 ITroasurerl Charf8B Hamilton ISo¢relaryl The use of the tem'Directol incorporates ihe designation of Trustse, for8 charity throuohout thls Annual Reportand Finanu81 Statements. Indap8ndont Examin Nam8: Kèith Lutton Addr886'. 91 Ballygroobany Road. Rlchhlll. Co Afflgh, 8T619NA 8anker8 Dansk8 Bank 48. High SW PortAdown. Craigahtyn, 8T62 1LB
The We8ley Trust {Hlgh $tr8et Methothst) Lwgan D5r•¢t¢' Annu&UStrat•gk Rewt The Direcbrs pras•ntthe annual rgport and acc£sunts for The Wesley Trust (High Str88t Melhodistl Lurgan {known as tha Wesioy Trusri tjr yaarended 31 D8combor 2022. ctfves and A¢tlvtt¥ Th• obl•diva& ofthè TN8t are Iha 8dv8nc8m8ntofI Cmsllan Faltr as und8r8knod by tho M•trtodl81 Church in Ireland and forlhe prornotion of the wblic benefit and social good of Lurgan ltrte areè of benefiy). being an area of social OrenOmiC deprivation. by all oranyof lh8 ft>llowing mean8'. 1. the relief of poverty. 2. the rol of unamploymontin ways as may b8 ttY)ughlfil, Includlng asslstance to11nd employment. 3. the advani%mentof education, training orretraining, and tho proVion of work8xp8riance, particularly for poopl• who are unemployed. 4. reliéf of Ihoge In nged by reason of youth, age, ill h8allh, addiction8. diaabillty, financlal hard8hip or other dl8adYantag8. Achlev•m•nts. P•rfornianc• and Publ1¢ 8•ft•fit During y8ar1ho Trusl••s eontinugd to utilise the promises to realise the k8y oblecovas ofth8 Wesley fwst. Wlh rospgct to lh8 roli8fof un8mployTnonl our a#ng ten8nts, BNL Produ¢tion8, the Re$tAuranl ond Faith M188lon 8ook8hop, continued to provldg omployment In three diverse work enyironm8nts LbUlln9 all available accommodation. In Novembor 2022 a new tenant IFrèyhileld81 sign8d five y8ar18880 for tho café. A3 8 T88uIt of thNid-19 Iha VV081ay truslconbnuad to agree lowèr ronls for 8UPPOrtto the on-going bu8ine8888. Th8 offlcé ypa¢8 within Ihg buildings continued k) be used for youth work organisad by th& Youlh Pastor who had an Offi wilhsn tho premi668. Evory olhar Satnday night the building IÈ u8ad for Youth &oup gathedng. There aro 80vonteon young peoplo corning from sevon diff8r8nt local sth0018, Includlng e numb8r of young ad¢Jllvoiunteers. Betsv8en Sept8mb•r and Doc8mb8r 2022 th& focus was on perw)n81 development and community Involv8m8nL tr) lh• followng monlh# the young p8oplg will b• Involv8d In lutthor plannln9 of their own curriculum tOgotr•r. PaBtoral car? m8otino8 ar8 held wilh our own volunte8r8 and young 0p10. Tho building 18 mad8 8v8il8blo for8tBff 8nd volsmt••r 1@ 8088ion8 for Reath Monkjring, whlch wort<S8Cf088 88ver818th0018 locally and in nghbOnn9 town8. In Junè 2022 0 thr8e89¢on tr8nwlSon course wa8 provlded forchlldren moving from primary to &ondary achool, and 8•vw81 thildr•n from ofthe l¢xal pnmary schools were involved. Thor• aro18èd¢rnhip meetings k) local ¢omnwnity work with volunte8r8 acros8 Ihè whole town and also to organi30 ¢onb"nu8d youlh worf( provision in High Street Methodistchurth, induding with the young leaders who w8r8 being supportgd and dèveloped. Th8 8oy$ Brigade organisation 8190 u8è the building. Sessions wi young pp1a conbnue on Ihe preff48, and Iherg has been a movement back to MO faCtrfaCe m8eng$ from online plalA)mis. The upstaits room is still Used to prowde support to Ihe young poople and thèir framilies, induding The up8tair8 rnom 18 61111 used to pffjyide 8UPPOrt lo the young people and Ih8ir famllie8, indudlng phone 0118, sourcing usefvl resour$. and Inyrson galherings. including with the fiStlnerable who use our provision. The building is 8190 now being u88d 88 8 Crothè brfamili08 on Sunday moming8. A group ofwomen m881 on a r8gular ba818 In Ihe prem180 under tho bannèr ol w¢)rftn Churth menkners also use Ihe promi formeeb.ngs on altemal.ve Tugslay nights for Praise and Prayer. Fln#nttl•l r•vl•w Therè was a defieitof £2.205 8ftor doprnaath'on ofbuildings for th8 year b) 31 Dsemb•r 2022 arisino from actiwties. Rontal income in8880d from £11091 to £14?18. Total reserve8 amwnt ) £499,531 as at 31 D•(mber 2022. During the ywlh810on borYowing$ W8Ta reduced from £92.362 b £86253.
Th• Wèsley Trust (Hlgh StroetM•tTrw)dl8t) Lwgan
Direct¢n' Anftv Strt•gic R•p¢# (contindI
Golng ¢on¢•m
The directors have reviewed ihqj budgets for Iho year ahvad and ar• $8lisfi8d Ihatth&r8 are adoquata
nds in plac to ensure that Ihe Wesley Trustcan ctjntinue its activities and tre finan(gal 6ts1ments for
8 yÉarended 31 December 2022 can bo signed off as a going concam.
The Memorandum and Arbd08 of A8wciion govèrns Ihe W•81oy Tru8L
Appolnkn•nt ofts DlYedrf8
Two direcknrs are appoint8d by the Methodi$tChurch in treland. Tha r•maining rMmbèr¥ arè oppointsd
by Iha Council of High Street Malhodisi Church, LLbrgan.
Pay and romthwratltyi
During Iho yaar thoro were no paym0nl8 for pay or r8munorntion$. No paym8nl8 wor• mad8 lo directors.
Funds hald a8 CWdtodi&nfar a#r•
Th8 VVe81gy TAJSI did not hold anyfiJnd8
b•hWof** R•vHwald
'YW JYA WT41 X 7A#t Ih••¢wm do ¢orryp',y th• •¢uJJthg 0¢4•um 3•J olih•
THE WESLEYTRUST (HIGH STrEET MEfHODIST) LURGAN STATEMENT OF FNANCIAL AcTrs IINCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECBER 2022 Not•• 2022 2021 Rent FM bookshop & Café R?nl BNL Productiorbs Ronl Fr88h Fleld8 Cofo 6.835 7,050 433 14,318 5,618 6273 11,891 200,000 Grant from tho MethOdtChurCh In hland Tol41 Incam• 211 891 Expndltur• Heat ond li9ht In8urance Telephone Maint8n8nce & r8psirs Church loens int8r8#t Bank fe88 and intsr8$1 D•preoation on propgrty Sundry 13,5041 (1,6161 (1,3711 15701 1557) 16891 {7,6731 15631 11,3971 11,4491 11,5781 11,0251 11461 {8681 17,6731 16131 Total oxp•ndAw• 14.549 N•t IK<#n• 122051 197,342 501,736 304,394 499 531
$87M31 1.193 9. 10.88ts 2DO 740 J48 I,IZJ 510 VAT 499,631 219071 281 885 601,788 Capltyl rq¥orw• 9021 13089 ,132 58 JYJ 10 88268 282
THE WESLEY TRUST{HIGH sfREET METHODIST) LURGAN NOTES TOTHE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR TO 31 DECEMBER 2022 1. A¢¢ountkng Pollcl•s •) Ba#lB thl and pr•p•rall¢ The finandal 6tamgnlB havo been propf on 8 going concem basis in aecofd8nce wilh Acthunting and Reporting by Charitias: Statomonl of Recomm6ndad Praclica applicablg to charities praparino their in accordance vhlh lh8 Ftnanaal R8portlng Standard applicAbl8 In thè UK and Ropublic of Ireland {FRS 1021- {Charities SC)RP IFRS 1021, ts Rgporèng Standard applicable in lh8 UK and R8public of tr•land (FRS 1021, and in accord8nco Finantsal Rèporting StarKlaThl for Small•r Enlttie8 8ff8ctiv8 April 2W8. Tho Wo8leyTruat moèts tho definibon ofa public b8naffit tity undar FRS 102. A889ts and liobiliti86 arè inlb.ally reCognid al hl$tOriC C4>81 ar tran8&ction value unleJ8 olherwise 8tat8(l in the ra19 acufttiftg pollcy nobl81. bl Pr•p•rAtknn alac¢4 an a ¢t)ar bo•l• Tho We81ey Tfust m••t81ts day l) day working oiylal rnquiroments its annual inojme. Tho dlr•ctr)r8 ave obtained and reviewod cash flow foroc$tg for Ihe c£•ming yoar ond ba8ed on th0$9 ar6 satisfied Ihal the we8Y Tru8th88 resour8 b prov¢de a reasonabla expoctation that Il can cajntsnue to m881 ita financial obliu8ts.ons as th8y lall due br tho foresaèable fubJre . Th6refore Ihese finanttal 81atsmanl8 havè bean prapar•d on a going cc•M b881& ¢1 Turnov•r polky Rentsl incomo 18 Indud•d whon du• ond grnnt incomg indud•d whgn exprlre i¥ inwrrad. dl Exp•ndltur• Expondliure18 T8)gni8¢d once Ih•re ity a1•gal orcon8tfud¥e obligation to mak¢ o paynI to a third party, itl$ prob8ble Ih81 ¥•llem8ntwlll b6 requlred and the amount of the oblfgation con be measured reliably. •) N%¢TrOnt a•8ets and d•pr•¢latlon poll¢y Non cuTh8nl SBet8 are mgda up ofland, bu8in888 propoty and non bu8iftess property. Land 18 reccvJnised al e4JsL Buslnes$ property is CognIsed al valuation. Non business proparty is r•cognis&d at C081. Land is not d8preciat. Buiin8s$ and non bu8iness Pfopety are d•pr•uad by equ81 amounts over 50 yoorn. 2. Rostrletéd FundB There ar8 no rèstridèd fund8. 3. R•mun•ratlon Ind 0xp•n$ Tha Wesley Tru8t doa$ not have any 8mploye8s. Thè Directors w8r8 not pald any ramunerallon or expenseg. No diracaor or p0r#on ralated to 8 dirocbr had any personal intsre81in any ntract or transaction entsrÉd ink) by lh8 Wo31ey Tru8tduring tho y8aT. 4. Taxalan The we•Y Tnjsl is recognised a8 a cbarity lor Ihe purposes of applicable tax8llon leglslauon and is theretsra not subjèctlo taxab'on ¢)n its charitable aclivities. 10
THE WESLEY TRUSTIHIGH STrEET METHODISD LURGAN NOTES TO THE ANNUAL FINANCIAL STATEMENTS F(Xi THEYEAR T0310ECEMBER 2022 IcontÉTh*d} Non Busine88 Business Land Prop•rty Pyyrty S. Pr¢)porty 2022 Total 2021 Total Co•UValu•tlc ())ening balance Additronsduring the 8T Disposals during th& y8ar Glosing bolènce 250.000 209,41)0 174,269 633fi69 633,869 250 000 174 633,689 Depr•¢lall¢xb Op8ning balan¢• Charo8 during th8 yoar Closing balance {25.1281 120,9101 146.0381 138,3651 24,395 46.038 Net book valu• at•nd of y• 149 874 579,958 S87,631 N•t book valu• •t1m40t y•ar T2 587.631 595.304 6. Al Ih? beglnnin# of Iho #r Ihe opllgl re8erv• of Q81,865 w88 Iran61&rrvd into rn%fjnuo r8serv88.ll was u)n8idorod Ihalthis was a morè approprieta disdosurè as all of the 80urce of the copikl re8orve8 r8lated kj granb r•ceived from third parti08 Ihot contain no r••trldon•. 7. Lolnfrom Bank Thè loan from Ihe D#ngke Bonk and18 r•p8ydbl• ovar 10 year$ by monthly inslallm8nts. The rats of intarosti8 4Yo above Iho bank ba$8 rat8. 8. Chwch M•mb•r• 2022 2021 l>•nlng balanc 20.000 20.000 Repaid during the yoar Closing balanco 20,000 Al the yr ond loan8 trom Churth Membor8 hav• no r8paymenl16M 8pedfied and are IntsroJtfro8. 9. Loan Irom Hlgh Str••t M•thotht Chwch Thè loan from lh8 Church i# r•payable Ovaf a ten ar period by monthly in$tallements. The rate of Intsre81 18 4.5Qh pA. 10. Long term 108n The loan from lh8 Mèthodigtchurth in Iraland w88 intere8tfr•e and was convoTtsd inkn 8 grant during Ihe 2021 year.