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|Contents||||Page|
|---|---|---|---|---|
|Legal and administrative||information|||
|Report ofthe Trustees||||3to 10|
|Auditor's
report||||11to 14|
|Statement offinancial activities||||15|
|Balance sheet||||16|
|Statement ofcash|flows|||17|
|Notes forming part|ofthe|financial|statements|18to 25|
|Grant commitments|made|during the year||26to 28|
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|||||2020|||2019||
|---|---|---|---|---|---|---|---|---|
||||General|Methodist|Total|General|Methodist|Total|
||||Fund|Church|Funds|Fund|Church|Funds|
|||||Fund|||Fund||
|||||reslricted|||restricted||
|||Notes|f'OOO|f,'OOO|X'OOO|X'000|OOOO|f,'000|
|Income from|||||||||
|Investment
income||i(c)&2|2 297|576|2 873|2,246|564|2,810|
|Donations||||2|2||3|3|
|Total|||2 297|578|2 875|2 246|567|2 813|
|Expenditure
on|||||||||
|Charitable
activities||3&4|2,256|523|2,779|2,240|598|2,838|
|Total|||2256|523|2 779|2 240|598|2 838|
|Net income /(expenditure)|||||||||
|aad net movement|in funds||||||||
|before gains and losses on|||||||||
|investments|||41|55|96|6|(31)|(25)|
|Other recognised
gains/losses|||||||||
|Realised net gains on|||||||||
|disposal ofinvestments||||||1,370|-|1,370|
|Vnrealised
gains on|||||||||
|revaluation
of|||||||||
|investments|||4 185|I 086|5 271|7809|2 582|10391|
|Net movement
in funds|||4,226|1,141|5,367|9,185|2,551|11,736|
|Reconciliation offunds:|||||||||
|Total funds brought|||||||||
|f0rwaril|||67 094|15629|82723|57909|13078|70987|
|Total funds carried forward|||71320|16770|88090|67094|15629|82 723|
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||||||2020|||2019||
|---|---|---|---|---|---|---|---|---|---|
|||||General|Methodist|Total|General|Methodist|Total|
|||||Fund|Church|Funds|Fund|Church|Funds|
||||||Fund|||Fund||
||||||restricted|||restricted||
|||||X,'OOO|K'000|t."000|K'000|K'000|8'000|
||||Notes|||||||
|Fixed assets||||||||||
|fnvestments||||71,579|18,114|89,693|67,392|17,030|84,422|
|Tangible|assets||1O|1|-|1||||
|||||71 580|18 114|89694|67392|17030|84422|
|Current assets||||||||||
|Debtors||||569|144|713|509|138|647|
|Cash at bank||||1 435|~683|752|1 214|~461|753|
|||||2,004|(539)|1,465|1,723|(323)|1,400|
|Creditors||||||||||
|Amounts
within|falling due
one year|||~1914|~728|~2 642|1 607|~986|~2 593|
|Net current assets (liabilities)||||90|~1267|~1177|116|~I 309|~1 193|
|Total assets|less|current||||||||
|liabilities||||71,670|16,847|88,517|67,508|15,721|83,229|
|Grants payable after more
than one year||||~350|~77|~427|~4)4|~92|~506|
|Net assets||||71320|16770|88090|67094|15629|82 723|
|Total funds||||||||||
|Unrestricted||funds||71,320|-|71,320|67,094|-|67,094|
|Restricted funds|||||16770|16770||15629|15 629|
|||||71 320|16770|88090|67094|15629|82723|
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|||||2020|||2019||
|---|---|---|---|---|---|---|---|---|
||||General|Methodist|Total|General|Methodist|Total|
||||Fund|Church|Funds|Fund|Church|Funds|
|||||Fund|||Fund||
|||||restricted|||restricted||
||||K'000|X.'000|f.'000|X'000|f,'000|f.'000|
|Cash used in|||||||||
|operating
activities|||2 013|~794|~2807|~1846|~430|{2276)|
|Cash flows from investing|||||||||
|activities|||||||||
|Investment
income|||2,235|572|2,807|2,219|558|2,777|
|Purchase offixed assets|||||||||
|Proceeds from sales|ofinvestments|||||5,410||5,410|
|Purchase ofinvestments||||||{5486)|~23|~5509|
|Cash provided
by|||||||||
|investing
activities|||2234|572|2 806|2 143|535|2678|
|(Decrease)/increase|in cash in the||||||||
|year|||221|(222)||297|105|402|
|Cash and cash equivalents||at the|||||||
|beginning ofthe year|||I 214|461|753|917|~566|351|
|Total cash and cash equivalents|||||||||
|at the end ofthe year|||I 435|683|752|I 214|{4461|753|
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|Net movement
in funds per|||||||
|---|---|---|---|---|---|---|
|statement offinancial|||||||
|activities|4,226|1,141|5,367|9,185|2,551|11,736|
|Gains on investments|(4, ]85)|(1,086)|(5,271)|(9,179)|(2,582)|(11,761)|
|Investment
Income|(2,297)|(576)|(2,873)|(2,246)|(564)|(2,810)|
|Decrease in debtors||||I||I|
|Increase/(decrease)
in creditors|307|(258)|49|367|95|462|
|Increase/(decrease)
in grants
due after I year|~64|~15|~79|26|70|96|
|Net cash used in operating|||||||
|activities|~2013|{794)|~2807|~1 846|~430|{2276)|
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|||||2020|||2019||
|---|---|---|---|---|---|---|---|---|
||||General|Methodist|Total|General|Methodist|Total|
||||Fund|Church|Funds|Fund|Church|Funds|
|||||Fund|||Fund||
|||||restricted|||restricted||
||||X'000|8'000|COOO|8'000|K'000|f'000|
|2.|Investment|income|||||||
||Cash held|within the portfolio|2||2|1||1|
||Property Unit Trusts||16||16|190|-|190|
||Investment|Fund Income|2 279|576|2 855|2055|564|2619|
||||2 297|376|2 873|2246|564|2 810|
##
||||Allocation|Charitable|Governance|2020|
|---|---|---|---|---|---|---|
|||||activities|costs|Total|
|||||8'000|I'000|t'000|
|Costs directly|allocated to||||||
|activities|||||||
|Grants committed||(net)|Direct|2,603||2,603|
|Audit fee|||Direct||10|10|
|Support costs|allocated to||||||
|activities|||||||
|Premises|||Area|11|I|12|
|General office expenses|||Usage|16|2|18|
|Trustees'|expenses||Time|I|I|2|
|Staffcosts|||Time|115|19|134|
|||||2 746|33|2 779|
|General Fund||||||2,256|
|Methodist|Church|Fund||||523|
|||||||2779|
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|||||Allocation|Charitable|Governance|2019|
|---|---|---|---|---|---|---|---|
||||||activities|costs|Total|
||||||S'000|S'000|x*000|
|Costs directly||allocated to||||||
|activities||||||||
|Grants committed|||(net)|Direct|2,651||2,651|
|Audit fee||||Direct||10|10|
|Support costs||allocated to||||||
|activities||||||||
|Premises||||Area|II|1|12|
|General office expenses||||Usage|21|2|23|
|Trustees'|expenses|||Time|5|2|7|
|Staffcosts||||Time|119|16|135|
||||||2 807|31|2 838|
||||||||2,240|
|General Fund||||||||
||||||||598|
|Methodist||Church|Fund||||2 838|
|||||2020|||2019||
|---|---|---|---|---|---|---|---|---|
||||General|Methodist|Total|General|Methodist|Total|
||||Fund|Church|Funds|Fund|Church|Funds|
|||||Fund|||Fund||
|||||restricted|||restricted||
||||t'000|K'000|T.'000|X'000|e'000|K'000|
|5.|Net incoming|(outgoing) resources|||||||
|for|the year||||||||
||These are stated after charging:||||||||
||Auditors'|remuneration|10||10|10||10|
||Payments|under operating|||||||
||leases||||||||
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|||||2020|||2019||
|---|---|---|---|---|---|---|---|---|
||||General|Methodist|Total|General|Methodist|Total|
||||Fund|Church|Funds|Fund|Church|Funds|
|||||Fund|||Fund||
|||||(restricted)|||restricted||
||||S'OOO|K'OOO|f.'000|K'000|J."OOO|K'OOO|
|6.|Staffcosts and numbers||||||||
||Salaries||113||113|112|-|112|
||Social Security|costs|10||10|10||10|
||Life, Permanent|Health &|||||||
||Medical Insurance||4||4|4||4|
||Pension contributions||9||9|8||8|
||(see nore 16)||136||136|134||134|
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||||2020|||2019||
|---|---|---|---|---|---|---|---|
|||General|Methodist|Total|General|Methodist|Total|
|||Fund|Church|Funds|Fund|Church|Funds|
||||Fund|||Fund||
||||restricted|||restricted||
|||OOOO|X'000|OOOO|K'000|K'000|I,'000|
|9.|Investments|||||||
||Market value at|||||||
||1u January 2020|67,392|17,030|84,422|58,137|14,425|72,562|
||Additions||||5,486|23|5,509|
||Sales||||(5,410)||(5,410)|
||Adjustment
to record market|4 187|I 084|5 271|9 179|2 582|11761|
||value ofinvestments|||||||
||Market value at|||||||
||31aDecember 2020|||||||
|||71 579|18 114|89693|67392|17030|84422|
||Historical cost at|||||||
||31"December 2020|58615|14616|73 231|58615|14616|73 231|
||Investment
Fund Units|71,579|18,114|89,693|6],983|17,030|79,013|
||Cash held within portfolios||||5,409||5,409|
||Market value at|||||||
||31"December 2020|71579|18 114|89693|67392|17030|84422|
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||||||2020||||2019||
|---|---|---|---|---|---|---|---|---|---|---|
|||General||Methodist||Total||General|Methodist|Total|
|||Fund|||Church|Funds||Fund|Church|Funds|
||||||Fund||||Fund||
|||||reslricted|||||restricted||
|||f'000|||K'000|K'000||OOOO|K'000|8'000|
|10.|Tangible fixed assets||||||||||
||Furniture
Jk equipment||||||||||
||Cost||||||||||
||At I"January 2020
Additions
Disposal|21
I
~1||||21
I
~I||21||21|
||31"December 2020||21||||21|21||21|
||Depreciation||||||||||
||At 1"January 2020||21||||21|21||21|
||Charge for the year||||||||||
||On disposals||||||||||
||At 31"December 2020||20||||20|21||21|
||Net book value||||||||||
||At 31"December 2020||||||||||
||At 31"December 2019||||||||||
|11.|Debtors||||||||||
||Investment
income receivable||567||144|711||507|138|645|
||Prepayments||2||||2|2||2|
||||569||144|713||509|138|647|
||Investment
income receivable|is a financial|instrument||and is|measured|at|present value.|||
|12.|Creditors||||||||||
||Amounts
falling due within one||||||||||
||year||||||||||
||Taxation||||||||||
||Creditors||||||||||
||Accruals||9||||9|10||10|
||Grants payable|I|901||728|2 629||I 593|986|2579|
|||I|914||728|2 642||I 607|986|2 593|
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||||2020|||2019||
|---|---|---|---|---|---|---|---|
|||General|Methodist|Total|General|Methodist|Total|
|||Fund|Church|Funds|Fund|Church|Funds|
||||Fund|||Fund||
||||restricted|||restricted||
|||f,'OOO|X'OOO|8'000|f.'OOO|X'OOO|OOOO|
|13.Grant commitments||||||||
|Grant commitments|at|||||||
|1"January 2020||2 007|1 078|3 085|1 613|913|2 526|
|Grant comminnents|made in|||||||
|the year||2, 195|655|2,850|2,138|650|2,788|
|Cancellations/recoveries||(116)|(131)|(247)|(85)|(52)|(137)|
|Grants paid||(1,835)|(797)|(2,632)|(1,659)|(433)|(2,092)|
|Movements
in the year||244|~273|~29|394|165|559|
|Grant commitments|at|||||||
|31"December 2020||2251|805|3056|2 007|1 078|3 085|
|Payable as follows:||||||||
|Within one year||1,901|728|2,629|1,593|986|2,579|
|After more than|one|||||||
|year||350|77|427|414|92|506|
|||2251|805|3 056|2 007|1 078|3 085|
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|EASTANGLIA:||||
|---|---|---|---|
|StIves Methodist
Church|||35,000|
|Comberton
Baptist Church|||15,000|
|Hope Church Ipswich|||35,000|
|StMary the Virgin Church, Great Brickhill|||10,000|
|With Community,
Ditchingham
(over 3years)|||30,000|
|EAST ANGLIA:|||125,000|
|LONDON:||||
|Hatfield Road Methodist
Church, StAlbans||(over 3years)|30,000|
|StDunstan's
Church, East Acton (over 3pears)|||30,000|
|New Generation
Church, Sidcup (over 3years)|||30,000|
|St Giles Church, Nazeing|||35,000|
|Church Revitalisation
Trust (over 3years)|||45,000|
|Worcester Park Baptist Church|||35,000|
|St John's Church,
Waterloo|||35,000|
|StMichael's
Church, Fulwell|||35,000|
|Growing Hope (over 3years)|||30,000|
|LONDON:|||305,000|
|MIDLANDS:||||
|Coleshill Parish Church, near Birmingham|||22,000|
|Glentield Methodist
Church, Leicester|||35,000|
|Heart ofTamworth
Community
Project|||25,000|
|Cliiton Methodist
Church, Nottingham|||30,000|
|The Brook Community
Church,
Shirebrook||(over 3years)|30,000|
|StMary's Youth Project, Cleobury
Mortimer||(over 3years)|30,000|
|The Joy Foundation,
Lincoln (over 3years)|||20,000|
|The Souster Youth Trust, Thrapston
(over|3years)||30,000|
|MIDLANDS:|||222,000|
|NORTH EASTi||||
|The Parish Church ofStGeorge, Jesmond (over 3years)|||45,000|
|Winterton
All Saints|||20,000|
|StMary the Virgin, Hull|||15,000|
|United Benefice ofPelton (over 3years)|||2],000|
|South Holderness
Methodist
Circuit (over 3years)|||24,000|
|Hull Lighthouse
Project (over 3years)|||30,000|
|NORTH EAST:|||155,000|
|NORTHERN IRELAND:||||
|East Belfast Mission (over 3years)|||30,000|
|Finaghy
Methodist
Church (over 3years)|||18,000|
|High Street Methodist
Church, Lurgan|||30,000|
|Play it by Ear, Home Mission Department|(over 3years)||30,000|
|The Hub Belfast (over 3years)|||37,500|
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||rhe Joseph
Ran|k trust|
|---|---|---|
|The Trussell Trust, Salisbury||200,000|
|One 25,Bristol (over 3years)||60,000|
|StJames's Church, Devizes||25,000|
|StMartin with StTorney Church, Lewannick||20,000|
|All Saints Highertown,
Truro||50,000|
|Beloved, Bristol (over 3years)||30,000|
|Didcot Baptist Church||30,000|
|Emmanuel
Church,
Woodley||30,000|
|Harnhill
Centre ofChristian|Healing (over 3years)|45,000|
|South West Youth Ministries|(over 3years)|45,000|
|Portishead
Methodist
Church||35,000|
|SOUTH WEST:||684,000|
|WALES:|||
|Aenon Baptist Church,
Swansea||35,000|
|Agape Community
Church, Ty Sign||20,000|
|WALES:||55,000|
|TOTAL commitments
in 2020:||%2,849,500|