Trinity Methodist Church – Reserves Policy 2021/22
General Funds. These comprise a current account with Lloyds Bank, deposit account with the Central Finance Board of the Methodist Church and cash in hand.
The Methodist Connexion recommends that reserves should equate to approximately six month’s normal expenditure. In 2021/22 that would be about £50,000. Although Trinity’s reserves exceed this it should be borne in mind that the quinquennial inspection earlier this year revealed the need for urgent, essential roof repairs that will cost in the region of £60,000.
We are in the process of raising new money from donations, interest-free loans and various grants to meet the cost of the roof repairs and are confident of achieving our goal.
During the church year ended 31 August 2021 Trinity received substantial amounts from the Government’s Furlough scheme and other Covid related grants from Government. With Furlough due to end on 30.9.2021, we aim to encourage various community groups to return and intend to boost income from room hire to pre-pandemic levels.
Restricted Funds. At 31.8.2021 these amounted to £2113 and comprised the Benevolence Fund at £1389 and the Church Project Fund (local talking newspaper) at £724.
Trinity Methodist
Church
SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL
SECTION E Please follow the Guidance Notes to complete this page Summary of the Church accounts for the year ended 31 August 2021 and Internal Organisations reporting to the Church Council/Church Meeting. Note that the funds of an Internal Organisation would normally be Restricted funds unless it could be clearly shown that they could be used for any Methodist purpose. This section must be completed to arrive at the gross income and expenditure totals of the Church. If gross income exceeds the Accruals threshold, then the Accruals method of accounting AND A DIFFERENT FORM must be used to report the accounts (see Methodist website). Please refer to the guidance notes regarding transfers between the District and connected District Organisations.
| SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | SUMMARY OF CHURCH ACCOUNTS AND INTERNAL ORGANISATIONS REPORTING TO THE CHURCH COUNCIL | |
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| SECTION E Please follow the Guidance Notes to complete this page |
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| SECTION E | |||||||||||||
| Summary of the Church accounts for the year ended 31 August 2021 and Internal Organisations reporting to the Church Council/Church Meeting. Note that the funds of an Internal Organisation would normally be Restricted funds unless it could be clearly shown that they could be used for any Methodist purpose. This section must be completed to arrive at the gross income and expenditure totals of the Church. If gross income exceeds the Accruals threshold, then the Accruals method of accounting AND A DIFFERENT FORM must be used to report the accounts (see Methodist website). Please refer to the guidance notes regarding transfers between the District and connected District Organisations. |
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| INTERNAL ORGANISATIONS |
Receipts | Payments | Net Receipts/ Payments |
Adjustments | Opening balances |
Closingbalances | |||||||
| e1 | Toddlers | 511 | 511 | ||||||||||
| e2 | Luncheon Club | 853 | 853 | ||||||||||
| e3 | Mission in Britain | 23 | 23 | ||||||||||
| e4 | World Church | 131 | 131 | ||||||||||
| e5 | |||||||||||||
| e6 | |||||||||||||
| e7 | |||||||||||||
| e8 | Sub total of Internal Organisations funds |
154 | 154 | 1,364 | (e11) | 1,364 | (e12) | ||||||
| e9 | Church accounts (totals brought forward from page 2 - totals column) |
**120,010 ** | (a7) | **99,327 ** | (b9) | 20,683 | (c7) | **49,301 ** | (c6) | 69,984 | (c8) | ||
| e10 | TOTAL CASH FUNDS HELD BY CHURCH |
120,164 | 99,481 | 20,683 | 50,665 | (x) | 71,348 | (y) | |||||
| TOTAL RECEIPTS | TOTAL PAYMENTS |
SECTION F
STATEMENT OF ASSETS AND LIABILITIES
| STATEMENT OF ASSETS AND LIABILITIES | ||||
|---|---|---|---|---|
| CHURCH - CASH FUNDS HELD at 31 August 2021 Cash in hand BankCurrentAccount Bank DepositAccount SUB TOTAL - Church accounts TOTAL CASH FUNDS HELD BY CHURCH Central FinanceBoard Trustees for Methodist Church Purposes Other funds Total funds held by Internal Organisations (the closing balance total from above) (e12) |
OPENING BALANCES 150 3,833 45,318 49,301 (c6) 1,364 (e11) 50,665 (x) |
CLOSING BALANCES |
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| f1 | Cash in hand | 150 | ||
| f2 | BankCurrentAccount | 7,520 | ||
| f3 | Bank DepositAccount | |||
| f4 | Central FinanceBoard | 62,314 | ||
| f5 | Trustees for Methodist Church Purposes | |||
| f6 | Other funds | |||
| f7 | SUB TOTAL - Church accounts | 69,984 | (c8) | |
| f8 | Total funds held by Internal Organisations (the closing balance total from above) (e12) |
1,364 | (e12) | |
| f9 | TOTAL CASH FUNDS HELD BY CHURCH | 71,348 | (y) | |
| SECTION G OTHER ASSETS and LIABILITIES Other Assets Land &Buildings (seenotesreInsurancevalue) Loan(s)-showamount outstanding at yearend Other Liabilities Investments (includeEndowments) |
At 1 September 2020 2,616,350 |
At 31 August 2021 2,618,950 |
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| g1 | Investments (includeEndowments) | |||
| g2 | Land &Buildings (seenotesreInsurancevalue) | 2,616,350 | 2,618,950 | |
| g3 | Other Assets | |||
| g4 | Loan(s)-showamount outstanding at yearend | |||
| g5 | Other Liabilities |
f4 Include only Funds held at the Central Finance Board
f5 Include only Funds held at Trustees for Methodist Church Purposes
g1 Include any other investments (not the cash element of TMCP trusts accounts this is included in line f5
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2015 Church R and P.xls
Name of Church .. TTinrty Meth¢)dist Church Independent Examinerfs Ststement I have cornpleted my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that in, any material fespect: the accounting records were not kept in accordance with section 130 of the Act: or the accounts do not accord with the accounting records. [the [the no COnrnS and have come across no other matters in connection wtth the examination to whiGh attention should be dravffl in this report in order to enable a proper understanding of the accounts to be reached. I have11wt. obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts. bank balances and funds at the Central Finance Board of Ihe Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Name of independent examiner Mr. DavKJ Hillyer Relevant professional qualtfication of independent exarniner Name of fimi (where appropriate) Address 32A Belbroughton Road B12ke(lown Kiddeiminsler. Worcs. DY10 3JG Date ...L).c..AOI.l delete or circle as appropriate 2015 church R and P.$ 50f5