THE INDEPENDENT METHODIST ASSOCIATION (INCORPORATED)
Financial health, per its FY2024 accounts
The accounts state that the charity reported a net deficit of £104,614 for the year, driven by expenditure exceeding income before investment gains. The trustees note that the current level of investment reserves is maintained for ongoing sustainability due to the annual deficit, though sufficient funds remain to continue projects. The charity also faces potential future increases in membership levies to cover rising costs.
What the accounts disclose
“However, because of the ongoing annual deficit of income over expenditure (ignoring the proceeds of church sales which cannot be relied on year-on-year), it is considered that the current level of investment reserves needs to be maintained for ongoing sustainability.” — page 8
Year-over-year changes
- Reserves position vs the charity's own policy moved from "above" (FY2022) to "below" (FY2024).
Corporate structure
- Registered company of the charity Companies House 00092321
Register events
- Received assets from another charity (17/06/2024)
- Received assets from another charity (20/09/2022)
Trustees
- ALISON TIPPING
- Carrie Elizabeth Louise O'Nions
- Christopher William Woodall
- DAVID WILLIAM HUGHES
- DEBORAH CARON ROBERTS
- DOROTHY LYDIA KENDRICK
- Kay Louise White
- LEESA KAY CROCKATT
- Lisa Green
- MARILYN MAY RIDING
- Pauline Wendy Smith
- Shaun Newton
- TERRY JOHN SWEET
- WILLIAM HAMPSON
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £253k | £413k |
| 31/12/2023 | £285k | £457k |
| 31/12/2022 | £470k | £225k |
| 31/12/2021 | £134k | £274k |
| 31/12/2020 | £85k | £205k |
Common questions
Is THE INDEPENDENT METHODIST ASSOCIATION (INCORPORATED) financially healthy?
The accounts state that the charity reported a net deficit of £104,614 for the year, driven by expenditure exceeding income before investment gains. The trustees note that the current level of investment reserves is maintained for ongoing sustainability due to the annual deficit, though sufficient funds remain to continue projects. The charity also faces potential future increases in membership levies to cover rising costs. Its FY2024 accounts were independently examined.