Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit**
# **Trustees Annual Report & Accounts 2022/23**
Docusign EnvelopÈ ID". A554B986-3AD94AF5-8E2F-C33F4035D632
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Circuit**
## **TRUSTEES' ANNUAL REPORT**
## **FOR THE YEAR ENDED 31 AUGUST 2023**
## **Introduction**
The circuit exists to support churches in their current worship, mission, and service through the centralised provision of ordained staff (& their accommodation) and lay employees. Presbyters are given pastoral oversight of specific churches whilst other roles function as points of reference for their areas of expertise. We coordinate the provision of Sunday worship and offer strategic ideas and plans for shaping the church for the future.
## **Aims and organisation**
The circuit is part of the Methodist Church. We exist to increase the awareness of God's presence, to celebrate God's love, to help people learn and develop as Christians, act as a good neighbour and challenge injustice. Our strategic objectives (worship, service, learning & caring and evangelism) are detailed in the ‘Our Calling’ document available from
www.methodist.org.uk/about-us/the-methodist-church/our-calling
## **Review of the year**
2022/23 was a challenging yet rewarding year. Churches continued to deliver more work in their communities than their size and demographics might suggest and shared patterns of working across the circuit have helped sustain some of these services.
Churches still offer significant opportunities to explore faith and attend worship as well as acting as central hubs for foodbank collection and/or distribution, providing resources for two charity shops, offering warm spaces and being places for community use. Some have begun collaborating with Citizens Leeds in actively campaigning to improve their local neighbourhoods.
Church services, bible study, toddler groups, children’s work, youth organisations, knit and natter communities, Live at Home schemes, baptisms, weddings, funerals, pastoral care, coffee mornings and community lunches are further examples of our work which benefits our communities.
Worship continued face to face, online and by post. The circuit engages with people regularly through its website and used Facebook, YouTube and Zoom accounts in creative ways to reach as many as possible.
Due to the central provision of some resources, the team can support churches in accessing skills not available locally, benefitting from economies of scale and enabling participation in events which they could not provide themselves. Examples include shared staffing, IT, finance, admin, and training. Ordained staff continued to spend considerable time with the wider community through the provision of pastoral care, as well as delivering funeral and bereavement support. Demand for weddings and baptisms also grew.
The children and families’ development worker provided significant resources for our younger people and remains highly valued by her churches as well as leading safeguarding training across our circuit. Her retirement at the year end will necessitate a reorganisation of work across the area and she will be sorely missed. The admin team continues to work flexibly, offering advice and help regarding finance, governance, and administrative matters. Demand for their time only continues to grow and a new partnership model of working together with churches was piloted.
Work began on reviewing our policies for better sharing and targeting of our resources across the area, considering our future needs and sustainable ways of being church. This will continue into the coming year.
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The church in Woodside ceased to meet but the methodist presence across the Horsforth area remains well served by the remaining societies. The churches in Lower Wortley, Wesley Road and Whingate combined into the New Whingate Church and became a stronger entity to help serve the needs of the Armley and Wortley sections of our circuit.
Finance remains a concern, with reduced income seen by many of our churches. The circuit has established a fund to support and help churches in crisis.
Morale in the team remains high and we are grateful for the teamwork of ordained people, lay staff and volunteers, which enables both the care of our people and the continuance of operations. We welcomed Rev Mo Onyett, a new probationary Presbyter, to our team in Sep 2022 and her enthusiasm has been much appreciated.
## **Finance Summary**
## **Income trends**
Circuit income is primarily drawn from the assessment paid by the circuit churches £392,314 (93% of general cash income). The remaining general income is received from grants, donations & investments (7%). Some balances were received from closed churches which has been designated separately to support these closed buildings as their futures are determined. These closed assets have been added to the property valuations in the accounts.
## **Expenditure trends**
Stipend pay levels increase each financial year in line with Conference approved amounts. The circuit also applies the living wage percentage increase to its lay employees in line with District recommendations. 51% of general cash expenses were used to pay our people and associated costs (£266,076). 17% represented the circuit's contributions to the district and connexional budgets (£86,564). This is used to fund the work of the wider methodist church.
Other administration and governance requirements totalled £36,034 (7%). £57,186 (11%) includes the upkeep of our minister residences and associated running costs and expenses. Grants, and payments to support churches and mission totalled £76,000 (14%). £35,655 of our designated fund was spent on dealing with closing properties, particularly their utilities, insurance and associated legal needs.
## **Fund balances**
At the year end, the net current assets of the circuit were £357,666. This has reduced, due to the planned yearly budget deficit. The Trustees note that this is more than sufficient to cover the general expenditure of the charity for around 8 months.
## **Plans for 23/24**
Plans for a wholesale review of how our resources, people, and finance, are targeted towards more sustainable models are progressing, along with our mission plans. Local churches will also be reviewing their direction of travel and asked to assess how they best serve the needs of their people. Churches will continue to work more closely together, and the closure and sale of buildings are likely to feature as we reshape to meet the current needs of our communities. Such reshaping is likely to bring challenges to our income stream but the capital from building sales will assist in such transitions. However, this will affect both our staffing needs and affordability. Our Children and Families worker retired at the year end and will not be replaced at this time.
Climate change needs and rising energy costs are also continuing to be concerns and work to change to more sustainable systems are being explored and implemented.
A reserves policy is attached to this document which includes a fund for churches in crisis and sufficient savings to deal with any income shortfall next year
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## **Governance**
## **Basis of preparation and legal framework**
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the 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).
**Full Name of Charity:** Leeds South & WestMethodist Circuit **Registration Charity Number:** 1129529 **Date of registration:** 2009
Charity in present form from 2015/16
(It became the continuing entity of the Charity no of Leeds Headingley and West registered in 2009)
## **Main communication address:**
Circuit Office, Wesley Road Chapel, Wesley Road, Leeds LS12 1UL
The members of the Leeds South & West Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches.
A Trustee List is attached as Appendix A to this report.
## **Circuit Ministers and officers**
## **Active Circuit Ministers**
Rev Jo Lightowler (Superintendent),
Rev Pete Brazier, Rev Keith Hunt (non Stipendiary), Rev Mo Onyett, Rev Rach Ward, Deacon Guy Austin-Bride
## **Children & Families Development Worker**
Mrs Sharon Brocksom
## **Circuit Stewards (Lay Volunteers)**
Miss Anne Jackson (Senior), Mrs Kirsty Butler, Mr Peter Cordwell, Prof Edmund Linfield, Mr Phil Maud, Dr Rob Moore, Mrs Elizabeth Smith, Mr Stuart Westerman, Miss Audrey Wilks,
## **Administrators**
Mrs Erica Hartley & Miss Helen Boocock
Miss H C Boocock acted as the principal officer overseeing the day-to-day financial management and accounting for the circuit during the year.
**Auditors:** Azets Audit Services
Carlton House, Grammar School St, Bradford BD1 4NS
**Investment Bankers** : Central Finance Board of the Methodist Church Trustees for Methodist Church Purposes
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## **Aims and Organisation**
The Charity's objective is to act as a resource provider within the area around South & West Leeds for the Methodist Church:
The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:
- a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;
- b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church;
- c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;
- d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church
- Worshipping God through prayer, song and other acts of worship including the organisation and resourcing of regular public acts of worship open to members of the church and non-members alike
- The teaching of Christianity through sermons, courses, and small groups.
- The resourcing of pastoral work including visiting the sick and bereaved.
- Taking religious assemblies in local schools.
- Promotion of Christianity through the staging of events and services.
- Working with local groups to improve and benefit the communities in which we live
- Provision of chaplaincy services to the local university and other institutions.
## **Public Benefit**
The Leeds South & West Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
## **Structure, Governance and Management**
The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976).
Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD). All Governance Documents can be found online at the Methodist Church of Great Britain Website
Day to day management of the circuit is undertaken by the Circuit Leadership Team along with the Local Preachers' Meeting, the Circuit Governance Committee, and the Circuit Meeting.
## **Trustee Training**
A range of guidance produced by Methodist Connexion to support the effective running of the circuit, specifically the leaflet ‘The Role of a Trustee in The Methodist Church’ is made available to all new Circuit meeting members as induction to their role as trustees.
## **Related Parties**
The Circuit is part of the Yorkshire West District and is also accountable to the Methodist Conference. The following Methodist Churches are linked to the circuit.
## **Churches within Leeds South & West Circuit**
Adel Methodist Church Highfield Methodist Church St John's Methodist Church Beeston Hill UFC (LEP) Hunslet Methodist Church St Mark's Methodist Church Central Methodist Church Hyde Park Methodist Church Trinity Bramley Methodist Church Cookridge Methodist Church Lower Wortley Methodist Church* Wesley Road Chapel (LEP) * The Church in Farsley (LEP) The Church In Rodley (LEP) Whingate Methodist Church* The Grove Methodist Church St Andrew's Methodist Church, Beeston Woodside Methodist Church (closed 23) Headingley Methodist Church St Andrew's Methodist Church, Pudsey * Merging 1/10/23
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## **Risk Management**
The major risks have been identified and recorded.
There is a regular annual review process undertaken.
Income and Expenditure is being monitored and is compared with the approved annual budget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves. There is also a crisis contingency amount included within the reserves policy.
## **Safeguarding**
Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.
Methodist Connexional practice outlines commitment to the following principles:
- the care and nurture of, and respectful pastoral ministry with, all children, young people, and adults
- the safeguarding and protection of all children, young people and adults when they are vulnerable.
- the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse.
- We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes.
- We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation.
- We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care.
- We will seek to challenge any abuse of power, especially by anyone in a position of trust.
- We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult.
- In all these principles we will follow legislation, guidance and recognised good practice.
The Leeds South & West Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy, government legislation, guidance, and safe practice in the circuit and in the churches.
The Leeds South & West Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.
## **Reserves Policy**
The Reserves Policy for the Circuit is attached at the end of this document. We confirm that it is sufficient to meet any unforeseen item of major expenditure on manses and / or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.
## **Policies**
The following additional policies have been formally adopted by the trustees
|Disciplinary & Dismissal Procedure|Equality Diversity Inclusion|Conflicts Of Interest|
|---|---|---|
|Safeguarding Policy|Grievance Procedure|Flexible & Hybrid Working|
|Health & safety|Redundancy|Finance Framework|
|Lone Workers|Photography and recording|Survivors of abuse|
|Social Media|Working at Heights|Antibullying|
|Lay Staff Training and Pay policy|Anti bribery & Whistleblowing||
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## **Leeds South & West Methodist Circuit**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF LEEDS SOUTH & WEST METHODIST CIRCUIT**
## **Opinion**
We have audited the financial statements of Leeds South & West Methodist Circuit (the ‘Charity’) for the year ended 31 August 2023 which comprise the statement of financial activities, the balance sheet, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
## In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 August 2023 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- - have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the Trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the Trustees report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
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## **Leeds South & West Methodist Circuit**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF LEEDS SOUTH & WEST CIRCUIT**
## **Responsibilities of Trustees**
As explained more fully in the statement of Trustees responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditors responsibilities. This description forms part of our auditor's report.
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.
We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.
In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:
- Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
- Reviewing minutes of meetings of those charged with governance;
- Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
- Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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## **Leeds South & West Methodist Circuit**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF LEEDS SOUTH & WEST CIRCUIT**
## **Other matters which we are required to address**
In the previous accounting year, the Charity did not meet the criteria required to have a statutory audit. Therefore, the prior period financial statements were not subject to audit.
## **Use of our report**
This report is made solely to the charity’s Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s Trustees as a body, for our audit work, for this report, or for the opinions we have formed.
**Colin Whitehead**
**Senior Statutory Auditor For and behalf of Azets Audit Services Ltd**
25 September 2024 | 09:26 BST Date: ...........................
Carlton House
## **Chartered Accountants**
**Statutory Auditor**
Grammar School Street Bradford BD1 4NS
Azets Audit Services is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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## **2022/23**
## **Leeds South & West**
## **Methodist Circuit**
## **Accounts**
## **For the year ended 31st Aug 2023**
## **(Accruals Basis)**
## **Charity Number 1129529**
**District:** Yorkshire West 27
**Circuit:** Leeds South & West 01
## **Ministers**
Rev Jo Lightowler (Superintendent)
Rev P Brazier, Rev K Hunt (non stipendiary), Rev M Onyett, Rev R Ward, Deacon G Austin-Bride
## **Lay Employees**
Mrs S Brocksom, Mrs A E Hartley, Miss H C Boocock
## **Stewards**
Miss V A Jackson (Senior **)** , Mrs K Butler, Mr P Cordwell, Prof E Linfield, Mr P Maud, Dr R Moore, Mrs E Smith, Mr S Westerman, Miss A Wilks
## **Treasurer**
Miss H C Boocock
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit** Statement of Financial Activities to 31st Aug 2023
|**No.**|**22/23**
**MTF**
**eneral**
**roperty**
**esignated**
**losed**
**hurch**
**estricted**
**Waters**
**und)**|**22/23**
**MTF**
**eneral**
**roperty**
**esignated**
**losed**
**hurch**
**estricted**
**Waters**
**und)**|**21/22**|
|---|---|---|---|
|**Income**|**C**
**G**
**P**
**D**
**C**
**C**
**R**
**(**
**F**|||
|**Donations & Legacies**
4
**Charitable Activities**
5
Assessments from Churches
a
Other Charitable Activities
b
**Other Trading Activities**
Income from Lettings
6
**Investments**
7|343
**-**
392,314
12,732
990,000
**147,660**
**2,500**
-
14,849
3,120
**-**|**343**
**392,314**
**1,152,891**
**-**
**17,969**|**1,486**
**-**
**412,017**
**23,700**
**10,466**
**4,786**|
|**Total Income**|**420,237**
**990,000**
**3,120**
**147,660**
**2,500**|**1,563,517**|**452,455**|
|**Expenditure**||||
|Stipends, Sals, NIC, Pensions
8
District Assessment
9
Methodist Church Fund
10
Telephone & Travel
11
Insurance & Utility costs
12
Maintenance on Manses
13
Expenditure on Circuit Churches
14
Other Outgoings
15
Grants and Donations
16
District Advance Fund
17
**Total Charitable expenditure**|266,076
14,255
72,309
4,781
28,281
**-**
24,124
-
**35,655**
36,034
309
**-**
-
76,000
-
2,919
**-**
**521,861**
**-**
**3,228**
**35,655**
**-**|**266,076**
**14,255**
**72,309**
**4,781**
**28,281**
**24,124**
**35,655**
**36,343**
**76,000**
**2,919**
**560,744**|**302,724**
**14,676**
**73,432**
**8,066**
**24,661**
**19,053**
**-**
**116,354**
**44,977**
**3,237**
**607,180**|
|||||
|**Net Income/Exp before gain/loss**|**101,624**
**-**
**990,000**
**108**
**-**
**112,005**
**2,500**|**1,002,772**|**154,725**
**-**|
|||||
|Transfers between Funds
18
Gain/Loss on fixed assets
Gain/Loss on investment assets
19
Net movement in Funds
Balances brought forward|2,311
-
(2,311)
**-**
**99,313**
**-**
**990,000**
**2,419**
**-**
**112,005**
**2,500**
**-**
3,457
-
4,380
-
**102,771**
**-**
**990,000**
**6,799**
**-**
**112,005**
**2,500**
422,811
2,250,606
108,386
-|-
**1,002,772**
**-**
**7,837**
**-**
**994,935**
**2,781,802**|-
**154,725**
**-**
**179,964**
**6,913**
**-**
**18,326**
**2,763,476**|
|**TOTAL Funds carried forward**|**320,040**
**3,240,606**
**101,587**
**112,005**
**2,500**|**3,776,738**|**2,781,802**|
|||||
|Monies received for others
Monies passed on to others||139,425
139,425|87,451
87,451|
|||-|-|
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit** Balance Sheet as at 31st Aug 2023
**----- Start of picture text -----**
Unrestricted
22/23 21/22
Fixed Assests £ £
Circuit Manses & Equipment 2,157,118 2,157,118 2,250,606
Churches 990,000 990,000
Investment Properties 93,488 93,488 -
Investments TMCP 149,716 98,750 248,466 103,130
20 Total fixed assets 3,390,322 98,750 - - 3,489,072 2,353,736
Current Assets
21 Debtors & Prepayments 22,778 22,778 21,721
- -
Loans by the Circuit
25 Trustee for Methodist Purposes 34 2,837 2,500 5,371 5,256
25 Central Finance Board 265,812 112,005 377,817 477,861
25 Cash at bank and in hand 55,010 55,010 75,748
Total current assets 343,634 2,837 112,005 2,500 460,976 580,587
22 Creditors (due under 1 year) 83,310 83,310 93,045
23 Grants agreed <1 Year 20,000 20,000 59,475
Net current assets/liabilities 240,324 2,837 112,005 2,500 357,666 428,067
Total assets less current liabilities 3,630,646 101,587 112,005 2,500 3,846,738 2,781,802
- -
Creditors and Accruals > 1 year
24 Grants agreed >1 Year 70,000 70,000 -
Net assets 3,560,646 101,587 112,005 2,500 3,776,738 2,781,802
Funds of the Circuit
General Fund (unrestricted) 3,560,646 3,560,646 2,673,417
Circuit Model Trust Fund (Unrestricted) 101,587 101,587 108,386
Designated Funds (Unrestricted) 112,005 112,005 -
Total Unrestricted Funds 3,774,238 2,781,802
Restricted Funds 2,500 2,500 -
Total Funds 3,560,646 101,587 112,005 2,500 3,776,738 2,781,802
General CMTF Designated Restricted
**----- End of picture text -----**
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit** Statement of Cash Flows for the Year Ended 31st Aug 2023
**----- Start of picture text -----**
22/23 21/22
Cash flows from operating activities:
Net cash provided by (used in) operating activities 33 - 138,636 6,683
Cash flows from investing activities:
Dividends and interest income from Investments 17,969 4,768
Rental income from properties 10,466
Net cash provided by (used in) investing activities 17,969 15,234
-
Change in cash and cash equivalents in the year 120,667 21,917
Cash and cash equivalents at the beginning of the year 558,865 536,948
Cash and cash equivalents at the end of the year 438,198 558,865
Cash and cash equivalent include:
Short term investments 383,188 483,117
Cash at bank 55,010 75,748
Total cash and cash equivalents 25 438,198 558,865
**----- End of picture text -----**
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit 27/01**
## **Notes to the Accounts**
- **1 Basis of accounting and accounting policies**
## **a) Accounting Standard**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2015) - (Charities SORP (FRS102)).
## **b) Public Benefit Entity**
The Leeds South & West Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below.
## **c) Basis**
These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. The accruals basis has been used and trustees present accounts that show a true and fair view of the Circuit’s financial position and activities.
## **d) Content**
The financial information presented is relevant, reliable, comparable, and complete. Where estimates are used these are based on experience, research, and judgment. The accounts are expressed in £ Sterling, rounded to the nearest pound.
## **e) True and fair override**
The accounts (financial statements) have been prepared in accordance with the relevant version of the 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) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the relevant version of the 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) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **f) Going Concern**
Based on the monetary assets and human resources available at the end of the year, the trustees believe that the Circuit is a going concern
## **g) Consolidation**
The Circuit has denominational regulatory oversight in respect of the work of the churches within the circuit but has no legal or operational control of those churches and their governing bodies except in extreme circumstances. For this reason, the financial statements of churches within the circuit are not consolidated into these financial statements.
## **h) Income Recognition**
Income is brought into account when there is entitlement, and the amount is reliably measurable once it is more likely than not that the economic benefit of the income will be forthcoming.
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
Individual amounts categorised as ‘Other income’ in the SOFA will be shown separately if they are considered material.
The Circuit acts as Agent in three matters
- the collection from Churches and payment over of their contributions to various Funds controlled and administered by the Methodist church – ‘Connexional Funds’
- the administration (application, collection, and disbursement) of grants requested by Churches within the Circuit from, but not limited to, the District and Connexion.
- the administration (payment and reimbursement) of church employee wages.
In all these matters the transactions are not reflected in the SOFA because they are the income of either the connexion or church as appropriate. Instead, the transactions are disclosed in the Notes to the Accounts as required by SORP(FRS102), module 19.12.
In accordance with the Charities SORP (FRS102), the time of volunteers is not recognised. If goods are donated, a value will be shown in the SOFA or Notes where a value is considered material.
## **i) Expenditure**
This is recognised when a liability is incurred, or a constructive obligation arises, where the amount is reliably measurable, and it is considered more likely than not that there will be an outflow of economic benefit.
## **j) Grants & fixed term appointments**
Grants made by the Circuit from its own funds are recognised in full at the time of agreement to make a grant or when the Circuit accepts that there is a legal or operational obligation to make the payment if it subject to performance conditions. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years in accordance with the originally agreed terms. In cases where the grant has been charged to one fund but for ease of payment has been transferred to another fund any future payment provision is applied to the fund from which the grant will ultimately be paid. Salaries agreed for fixed term employees are also treated as such and a provision will be made.
## **k) VAT**
Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.
## **l) Tangible fixed assets for use by the Circuit**
These are capitalised if they can be used for more than one year, and individually cost at least £1,000.
The freehold property and/or long leasehold residential property is shown in the accounts at deemed historical cost representing each property's gross carrying value as at 1 September 2015. No depreciation is provided on the building because the trustees consider the current residual value of the property in its present condition to be not less than its historical cost and, in the absence of any evidence of impairment, any depreciation provision for the building component of the property would be immaterial.
From time to time the Circuit may be required to assume responsibility for church premises following closure and cessation of worship. This results in the Circuit becoming Managing Trustees of the property. At that time, the property is recognised as an asset at its anticipated sale price as determined by professional valuation. Any expenditure on such assets if held for reinvestment of the proceeds, as the trustees determine, that is likely to enhance the sale value is capitalised at the time the expenditure is incurred. Where the proceeds are intended to be spent on activities, the property is included in current assets at the lower end of cost and realisable value.
The Circuit has made use of the deemed cost option on transitioning to FRS102, as outlined above.
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **m) Monetary investments**
The Circuit's investments are in monetary assets classified as basic financial instruments under FRS102 and are held by the Trustees for Methodist Church Purposes (TMCP) as Custodian Trustee. The valuation, at market value, are those provided by TMCP. The unrealised gains arising on investments at the end of the year are shown in the SOFA.
## **n) Investment Properties**
From time to time the Circuit may hold residential property (formerly manses) which is surplus to its normal staffing requirements. Where this is the case and it is anticipated that the property is unlikely to be used as a manse within a period of 2 years, the property is classed as Investment Property (whether let out or not) and lets are at market rates unless there is a compelling reason not to do so in furtherance of the Circuit's charitable objectives. Any such cases are specified within the accounts.
## **o) Receivables and Payables: Bank and Cash (Basic Financial Instruments)**
Debtors are stated at the amounts owed to the Circuit or prepaid. Creditors are initially recognised at settlement amount after any trade discounts, where normal credit terms apply, or the amount advanced to the Circuit. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid. The liquid funds of bank balances and deposit fund balances are shown at their realisable values.
## **p) Methodist Connexional Funds**
The Methodist Church Connexion raises assessments against circuits, and these are paid quarterly to their districts. The circuits raise assessments against churches in their circuit. The district quarterly remits the sum received from the circuits. The district retains a portion from this circuit assessment to meet its own cost is and listed separately to the connexional total in these accounts. The circuit acts as Agent for ad hoc collections for various funds controlled and administered by the Methodist Church and these are detailed in the Related Parties section.
## **q) Funds**
The trustees have adopted a policy for all unrestricted reserves which is included as Appendix B. The funds held constitute: General Funds held for any purpose of the Circuit which are Unrestricted. The Circuit Model Trust Fund which has wide purposes defined in Standing Orders and is categorised as unrestricted. Restricted funds which are held for a narrower specified purpose. Designated funds are for earmarked projects but can be reallocated according to priorities. We have no Endowment funds. Details of each material fund are disclosed in the accounts. Any funds may be represented by more than just cash.
## **r) Minister's Manse Costs**
The Circuit is required to provide accommodation for each minister in the circuit and their families and this is seen as a benefit to the circuit. Ministers are expected to occupy the manse provided for them. The circuit bears the costs of repairs, maintenance, buildings insurance, council tax and water charges. These figures are not separately disclosed as benefits-in -kind for ministers as HMRC does not seek to tax these receipts in the hands of ministers.
## **s) Subsequent Events**
Events after the reporting period: An event, which could be favourable or unfavourable, that occurs between the end of the reporting period and the date that the financial statements are authorised for issue.
Adjusting event: An event after the reporting period that provides further evidence of conditions that existed at the end of the reporting period, including an event that indicates that the going concern assumption in relation to the whole or part of the enterprise is not appropriate.
Non-adjusting event: An event after the reporting period that is indicative of a condition that arose after the end of the reporting period.
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
**.**
**2 Glossary of Terms**
**CFB:** Central Finance Board of the Methodist Church manages a Common Deposit Fund and a series of pooled investment funds for Methodist entities in Great Britain and provide investment advice to those entities.
**Church:** a group of members from twelve to more than three hundred
**Circuit:** A group of Methodist Churches and Local Ecumenical Partnerships with a methodist component in a geographically defined area, typically between 10 and 30
**Circuit Meeting:** The Trustees of the Circuit, most of whom are appointed by their local Churches and others by virtue of a role they undertake for the Circuit and/or local Churches.
**CLT:** Circuit Leadership Team: A group (comprising mostly, but not exclusively) of Circuit Trustees responsible for the day-to-day administration and policy formulation of the Circuit. The CLT comprises the Presbyters and Deacons stationed within the Circuit, The Circuit Stewards, including a finance steward and the Lay employees.
## **CMTF:** Circuit Model Trust Fund
**Connexion:** The Methodist Church in Great Britain which includes the Head Office in London, all Methodist Districts, Circuit and Churches in Great Britain
**Connexional Funds:** The Designated and/or Restricted Funds held and administered by the Connexion in furtherance of its charitable and mission objectives.
**Deacon:** A Deacon is an ordained role within the Methodist Church and a religious order. It is a way of life which expresses the servant ministry of Christ by the whole people of God to the world. Deacons exercise caring, pastoral, evangelistic and outreach ministries in accordance with their gifts.
**District:** a group of contiguous Circuits, usually between 15 and 30
**FRS:** Financial Reporting Standard
**HMRC:** Her Majesty's Revenue and Customs
**Lay Employees:** Personnel employed by the Circuit on accepted commercial employment terms.
**LEP:** Local Ecumenical Partnership, A group of denominations who agree to work together as one unit. The agreement may be to share buildings, worship or financial and governance structures and may vary in detail from Partnership to partnership.
**MMPS:** Methodist Ministers' Pension Scheme
**Pensions Trust:** The organisation through which the Circuit arranges a pension scheme for its lay employees.
**Presbyters (including Superintendent):** Probationer or Ordained Methodist Minister who have pastoral and administrative responsibility for the Churches within a Circuit. They are placed (stationed) in a circuit who look after their accommodation, stipends and welfare and they usually take pastoral church of a designated set of churches. The Superintendent carries the additional responsibility for overseeing the running of the Circuit.
**SOFA:** Statement of Financial Activities
**SORP:** Statement of Recommended Practice
**Stipend:** A regular fixed sum paid to ordained staff in lieu of a Salary. It is taxed in the same way a salary would be treated.
**TMCP:** Trustees of Methodist Church Purposes, the legal owner and Custodian Trustee of all Methodist Model Trust property, including legacies, Endowments and Accumulated Funds.
## **3 Restatement of previous year's figures**
In preparing the accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 [Not Section 1A] and the Charities SORP FRS 102 the statement of comparative items was required. Restatement has not been necessary, and a reconciliation of opening balances is also therefore not required. A copy of the previous year's SOFA and Balance sheet is included at Appendix C for clarity.
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit 27/01**
## **Year ended 31st Aug 2023 Notes to the Accounts**
## **4 Donations & Legacies**
No legacies received. Donations received towards postal costs and circuit resources provided
**----- Start of picture text -----**
Donations & Legacies General CMTF Desig 22/23 Total 21/22
Collections & Donations 343 343 1,486
Total 343 - - 343 1,486
**----- End of picture text -----**
## **5 Charitable Activities**
In 2022/23 the circuit went from 20 churches to 17 due to closures and amalgamations. Each is assssed for a contribution to meet the overall net costs of the circuit. Known income from other sources is taken into account. The circuit continues to reasses contributions by membership and relative financial strength, in order to share the costs as fairly as possible. The budget also allows for our savings to be used to help manage change. 3 churches merged together at the start of the year (but 1 paid the first Quarter's assessment in advance), a further church closed in June 23 but paid the full year's assessment.
## **5a Assessments from Churches**
**----- Start of picture text -----**
Church General CMTF Desig 22/23 Total 21/22
Adel 13,333 13,333 13,333
Beeston Hill 14,121 14,121 13,645
Central 11,126 11,126 11,126
Cookridge 35,652 35,652 34,613
Farsley 14,398 14,398 14,398
The Grove 57,469 57,469 57,469
Headingley 31,691 31,691 31,691
Highfield 14,242 14,242 14,242
Hunslet 19,751 19,751 19,751
Hyde Park 13,062 13,062 13,062
Lower Wortley - - 3,000 merged
Meanwood - - 2,994 closed 21/22
Rodley 3,620 3,620 3,549
St Andrew's, Beeston 22,724 22,724 22,724
St Andrew's, Pudsey 40,794 40,794 40,794
St John's 7,513 7,513 7,513
St Mark's 14,514 14,514 14,514
Trinity, Bramley 36,860 36,860 36,860
Wesley Road 5,305 5,305 20,600 Merged
Whingate 16,960 16,960 16,960 Merged
Woodside 19,179 19,179 19,179 closed 06/23
Total 392,314 - - 392,314 412,017
**----- End of picture text -----**
Woodside Church ceased to meet, their TMCP balance passed to us but some local funds have not yet been forwarded. Wesley Road and Lower Wortley passed all their methodist assets to circuit management and their people joined with Whingate to form New Whingate. An amount equal to the closed church cash and equity funds has been designated for supporting the buildings until their futures are determined. The Circuit Office acts as treasurer for Adel, St Andrew's Pudsey, Farsley, & St Marks for which a charge is made. Sales income represents bulk-buying/reselling to churches for regular resources. Accessibility Grants refunded amounts paid out in this and the previous year to support our staff with additional needs. Youth represents donations made to help with cost of Youth 3 Generate Event.
**----- Start of picture text -----**
5b Other Charitable Activities General CMTF Desig Restricted 22/23 Total 21/22
Property received into Circuit Control 990,000 990,000
Meanwood Balances - - 14,728
Wesley Road Balance - 126,984 126,984 -
Lower Wortley Balance - 20,676 20,676 -
Accessibility Grants 9,067 9,067 -
Woodside balance 2,500 2,500 -
Circuit Finance Support 1,800 1,800 2,551
Youth 1,230 1,230 500
Sales Income 615 615 762
Other Misc 20 20 275
District payment for Admin support - - 2,684
Refund of costs for sale of Trinity - - 2,200
Total 1,002,732 - 147,660 2,500 1,152,891 23,700
**----- End of picture text -----**
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **6 Other Trading Activities**
Whitecote Hill manse is now occupied by staff. Fraser Avenue manse is ready for let but without a tenant .
**----- Start of picture text -----**
6a Income from Lettings General CMTF Desig 22/23 Total 21/22
Whitecote Hill Manse - - 10,466
Total - - - - 10,466
7 Investments
Investments General CMTF Desig 22/23 Total 21/22
Interest 12,897 78 12,975 3,014
Dividends 1,952 3,042 4,995 1,772
Total 14,849 3,120 - 17,969 4,786
**----- End of picture text -----**
## **8 Stipends, Sals, NIC, Pensions**
The Superintendent and the other presbyters are considered Key Management personnel. The members of the Circuit Meeting are the trustees of the charity. No employees receive benefits over £60,000. There is no accrual for holiday pay as it is immaterial. Holidays for ordained staff ends 31st Aug All staff are paid at or above the living wage.
Stipends were paid to 4 presbyters and 1 Deacon who were all fulltime. Salaries were paid to 1 Full Time Children & Families Worker and 2 part time administrators (.6 FTE each).
Most ordained people are members of the Methodist Ministers' Pension Scheme (MMPS). This is a defined benefit scheme. The Connexion accounts for this in the annual Methodist Church in Great Britian accounts. The MMPS is now in surplus.
A defined contribution pension scheme has been set up for lay employees in line with the Government guidelines on auto enrolment. Employers contribute 6% and employees from 2-6%. Rather than run multiple schemes, some churches moved their staff onto our payroll to share central administration. We currently deal with the payroll and pensions for employees based at The Grove, St Andrew's Pudsey, Hunslet, Adel, Farsley and Headingley and pass the payment on to payroll for their costs. These salary figures are not in the accounts except in the "collected/received for others" total and amount to £66,272 FTE = Full time equivalent
**----- Start of picture text -----**
Stipends, Sals, NIC, Pensions General CMTF Desig 22/23 Total 21/22
Ministers
Stipends 137,333 137,333 157,526
Pensions 36,218 36,218 41,680
NIC 13,206 13,206 14,940
Computers for ministry 880 880 1,026
Expenses 1,643 1,643 1,821
Lay Staff -
Salaries 65,396 65,396 72,809
Pensions 3,924 3,924 4,185
NIC 5,331 5,331 5,425
Expenses 545 545 1,577
Admin Charge 576 576 576
Apprenticeship levy (all people) 1,025 1,025 1,157
Total 266,076 - - 266,076 302,724
**----- End of picture text -----**
## **9 District Assessment**
The District Assessment is calculated relative to the proportion of church members and ordained staffing levels across all circuits in the Yorkshire - West District. The Methodist Church Fund is calculated similarly albeit using a different formula and collected by the District to pass onto the Connexion.
**----- Start of picture text -----**
District Assessment General CMTF Desig 22/23 Total 21/22
District Assessment 14,255 14,255 14,676
Total 14,255 - - 14,255 14,676
10 Methodist Church Fund General CMTF Desig 22/23 Total 21/22
Methodist Church Fund 72,309 72,309 73,432
Total 72,309 - - 72,309 73,432
**----- End of picture text -----**
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **11 Telephone & Travel**
The Circuit provides or pays for 1 broadband and phone connection for each ordained member of staff. Where possible, this is provided directly to avoid a tax liability for the individual but some are claimed through expenses. In addition, the Children & Families worker is provided with a mobile phone with internet access. The office at Wesley Road also has phone and broadband. Travel is reimbused at standard Inland Revenue rates.
**----- Start of picture text -----**
Telephone & Travel General CMTF Desig 22/23 Total 21/22
Ministers
Telephone/Internet 2,597 2,597 2,083
Travel 646 646 3,497
Lay Staff & Office
Telephone/Internet 1,436 1,436 1,805
Travel 102 102 681
Total 4,781 - - 4,781 8,066
**----- End of picture text -----**
## **12 Insurance & Utility costs**
The Circuit owns 8 manses to house their ministers. 1 houses a minister who does not receive a stipend but works on a "house for duty basis" and 1 (Crossflatts) is due to be sold as it is surplus to our future needs. 1 is being prepared for letting (Fraser Avenue)
**----- Start of picture text -----**
Insurance & Utility costs General CMTF Desig 22/23 Total 21/22
Manses
Insurance 7,161 7,161 15,141
Water 2,769 2,769 6,152
Council Tax 16,619 16,619 2,700
Gas & Electric 1,732 1,732 669
Total 28,281 - - 28,281 24,661
22/23 Total 21/22
Costs by Manse
Chestnut Drive 2,745 714 3,459 3,420
Becketts Park Drive 2,324 702 3,025 2,810
Cross Flatts (empty - to be sold) 1,902 1,460 3,362 2,482
Whitecote Hill (to be let) 2,689 670 3,359 4
Fraser Avenue 573 185 758 2,663
Edward Close 2,745 188 2,933 2,952
Swallow Close 1,739 170 1,909 1,843
Salamanca Crescent 1,902 411 2,314 2,335
Total Circuit Insurance 7,161 7,161 6,152
Total 7,161 16,619 4,501 28,281 24,661
Misc
Water & Heating
Insurance Council Tax
**----- End of picture text -----**
## **13 Maintenance on Manses**
£3000 per manse on average is budgeted yearly in the assessment for repairs but may not be equally used. Additionally £30,000 is designated from reserves for more major repairs and quinquennial work. Becketts Park had a replacement bathroom, new carpets and roof repairs, Edward Close was redecorated at the change over of ministers and some adaptations made for their needs (now reimbursed). Fraser Avenue was prepared for letting and Whitecote Hill refreshed after tenants changed back to staff. Salamanca Crescent has had some external fencing and shed repairs plus plumbing and electrical work undertaken.
|**Maintenance on Manses by Work**
Bathroom
Electrical repairs
Carpets
Plumbing Repairs
Gas/Elec Maintenance & Inspections
Appliances replace/repair
Other External repairs
Roof Repairs
Gardening
Misc repairs
Garage repairs/demolition
Internal Decoration|**General**
**CMTF**
**Desig**
**22/23 Total**
**21/22**
4,998
4,998
-
2,821
2,821
828
2,727
2,727
-
2,424
2,424
966
2,169
2,169
1,877
1,917
1,917
517
1,562
1,562
140
1,440
1,440
1,920
1,106
1,106
305
705
705
221
635
635
118
615
615
4,512|
|---|---|
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
**----- Start of picture text -----**
Manse Adaptations 545 545 5,550
Alarm Maintenance & Repair 349 349 432
Window & Door Maintenance & Repair 109 109 330
Guttering - - 1,006
Keysafes - - 186
Aerial - - 145
Total 24,124 - - 24,124 19,053
**----- End of picture text -----**
## **14 Expenditure on Circuit Churches**
Lower Wortley Church Building has been mothballed and is being prepared for eventual sale, Woodside Church has a tenant in the Sunday school and a lease is being agreed. The whole site is also likely to be sold in due course. Wesley Road is being used by the circuit for office space and other activities and meetings. It is 80% owned by the Methodist Church and 20% by the Baptist denomination. Lower Wortley and Wesley Road require reconstruction of title as the deeds are either missing or partially complete. This is in progress.
**----- Start of picture text -----**
Expenditure on Circuit Churches General CMTF Desig 22/23 Total 21/22
Utiltiies LW 1,683
Insurance LW 7,942
Total Lower Wortley 9,625
Utiltiies WR 2,530
Insurance WR 913
Other Maintenance 297
Total Wesley Road 3,740
Utiltiies WS (part Year) 503
Insurance WS (part Year) 1,551
Governance & Legal WS 20,237
Total Woodside 22,291
Total - - 35,655 35,655 -
**----- End of picture text -----**
## **15 Other Outgoings**
**Governance Costs** includes church /manse quinnqennial inspections, surveys, legal and account inspection fees (and connexional levies on the sale of buildings £48k in 21/22). £12500 Audit fee has been added as a subsequent event. **Admin** is mainly the office costs of printing and purchases of materials. It includes Safeguarding costs, and website maintenance. **Youth** charges are mainly the costs of 3 Generate. **Occupational Health** costs were reclaimed as a grant from the connexion/Dept of Work & Pensions. **Payments to Trustees/Preaching expenses** . 3 Trustees are employees of the circuit and are in receipt of a salary and employment related expenses. Some 6 local preachers are also trustees of the circuit and have received preaching expenses totalling £1505. **The Grove** is the on-going charge for the use of car spaces in their carpark. **Bank charges -** During the year the circuit paid TMCP, the custodians of the circuit's investments, management charges based on 0.285% of the value of the individual funds at the beginning of the year. **Purchase costs** are the bulk purchasing of items for churches to minimise costs to them. It is hoped **Benevolence Payments** are discretionary funds to relieve hardship, paid to individuals or charities who are in need. The restricted fund was exhausted during the year but a new policy was agreed allowing up to 1.5% of the general balance to be used if required.
**----- Start of picture text -----**
Other Outgoings General CMTF Desig 22/23 Total 21/22
Governance Costs 19,252 - 19,252 54,770
Admin 6,638 6,638 4,543
Youth Expenses 3,480 3,480 2,160
Occupational Health 2,365 2,365
Preaching Expenses 2,006 2,006 1,989
The Grove 1,000 1,000 1,000
Bank Charges 120 309 429 514
Purchase costs 415 415
Training courses & resources 318 318 3,360
Other Misc 170 170 213
Benevolence Payments 160 160 196
Tech Repair/Purchases 110 110 1,077
Pension Reserve Fund - - 40,000
Removal Costs - - 2,934
Citizens - - 2,000
Letting charges - - 1,510
House Purchase/Sale Costs - - 89
Total 36,034 309 - 36,343 116,354
**----- End of picture text -----**
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Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **16 Grants and Donations**
When a grant has been agreed, a provision is made for its payment if not paid immediately
**----- Start of picture text -----**
Grants and Donations General CMTF Desig 22/23 Total 21/22
Grants agreed for future years 50,000 50,000 9,475
Adel 10,000 10,000
St Andrew's Beeston 10,000 10,000
Headingley 5,000 5,000 18,000
Rodley 1,000 1,000
St Andrew's, Pudsey - - 16,900
PRF Grants to churches - - 602
Total 76,000 - - 76,000 44,977
Previously agreed grants paid 22/23 Total 21/22
Meanwood - InterAct 10,000 10,000
HydePark 9,475 -
Total 19,475 10,000
**----- End of picture text -----**
## **17 District Advance Fund**
The District Advance Fund is financed by a levy to support District grants to projects. It is calculated on all circuits on their CMTF account balance as at 31st Aug in previous accounting year. It is a sliding scale from 2.5% to 7.5%
**----- Start of picture text -----**
District Advance Fund General CMTF Desig 22/23 Total 21/22
District Advance Fund 2,919 2,919 3,237
Total - 2,919 - 2,919 3,237
18 Transfers/adjustments General CMTF Desig 22/23 Total 21/22
Tmcp Interest to General 2,311 - 2,311 - -
Total 2,311 - 2,311 - - -
19 Investment gains General CMTF Desig 22/23 Total 21/22
Gain/loss on value of Fixed Assets - 179,964
- - - -
Gain/loss on value of Equities 3,457 4,380 7,837 6,913
Total - 3,457 - 4,380 - - 7,837 173,051
**----- End of picture text -----**
The circuit owns 8 manses: 6 are occupied by staff, 1 is for sale (crossflatts) and 1 is to let (no tenant). 3 church buildings passed to the circuit as societies merged or closed during the year. These are shown at estimated sale cost However connexional levies are charged after £20k (20% on the remainder of the first £100k and 40% on the rest are taken unless funds are for a replacement project). TMCP is the legal owner and custodian trustee of all methodist church property.
Equities were also passed to the circuit at church merger. Equities are regarded as medium or long term
**----- Start of picture text -----**
20 Property & Investments General CMTF Desig Restricted 22/23 Total 21/22
4 Chestnut Ave LS16 (Manse) 236,891 236,891 236,891
33 Becketts Park Dr LS6 3PD (Manse)* 233,720 233,720 233,720
7 Fraser Avenue LS18 5EA (Manse) 300,000 300,000 300,000
15 Edward Close LS28 7FG (Manse) 310,000 310,000 310,000
54 Whitecote Hill LS13 2HU (Manse) 320,000 320,000 320,000
36 Crossflatts Ave, LS11 7BG (Manse) 250,000 250,000 250,000
6 Swallow Close LS12 3TH (Manse) 320,000 320,000 320,000
10 Salamanca Cres LS10 4GJ (Manse) 279,995 279,995 279,995
Manse Subtotal 2,250,606 2,250,606 2,250,606
Lower Wortley Methodist Church 250,000 250,000
Wesley Road Chapel (80% Methodist) 240,000 240,000
Woodside Methodist Church 500,000 500,000
Churches under Circuit Trusteeship 990,000 990,000
Total Property 3,240,606 3,240,606 2,250,606
TMCP WR Equities 149,716 149,716
CFB Equities 98,750 98,750 103,130
Investments Subtotal 149,716 98,750 248,466 103,130
Total Fixed assets 3,390,322 98,750 - - 3,489,072 2,353,736
**----- End of picture text -----**
* Investment Property (land assumed at 60% of value)
23
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **21 Debtors & Prepayments**
All sums shown as debtors in 21/22 were received in the following year. All sums paid in advance at 22/23 were for activities in 23/24 except for a £6000 loan to Cottingley Church in 20/21 which remains outstanding
**----- Start of picture text -----**
Debtors & Prepayments General CMTF Desig 22/23 Total 21/22
Stipends 16,777 16,777 15,721
Church Payments 6,001 6,001 6,001
Total 22,778 - - 22,778 21,721
**----- End of picture text -----**
## **22 Creditors and Accruals**
All sums accrued in 22/23 will be paid in 23/24 unless indicated. Agreed grants are £10k per year to the work of InterAct (4 years remaining) and the same to Leeds Sanctuary to part fund the University Chaplaincy (5 years).
**----- Start of picture text -----**
Creditors and Accruals General CMTF Desig 22/23 Total 21/22
Assessment 70,810 70,810 88,533
Audit Fee 22/23 12,500 12,500
Internal Decorations - - 4,512
Subtotal 83,310 - - 83,310 93,045
23 Agreed Grants <1 Yr 20,000 20,000 59,475
24 Agreed Grants >1 Yr 70,000 70,000
Total 173,310 - - 173,310 152,520
**----- End of picture text -----**
## **25 How funds are held**
Monetary Balances held at the CFB and at the CAF bank are all available on demand without loss of interest. The split of these balances across the funds is arbitary but whereever possible balances are not shown as negative. The funds that support the Circuit Model Trust Fund are held by TMCP in the Trustees Interest and interest is credited to the account regularly (along with dividends from the Equity funds shown in investments above).
**----- Start of picture text -----**
Bank Balances General CMTF Desig Restricted 22/23 Total 21/22
TMCP WR (Tif) 34 34
TMCP Trustees Investment Fund (Tif) 2,837 2,837 5,256
TMCP Waters fund (Tif) 2,500 2,500
TMCP Subtotal 34 2,837 - 2,500 5,371 5,256
CFB Account 265,812 112,005 377,817 477,861
Cash 163 163 258
CAF Bank Current Account 53,656 - 53,656 73,501
CAF Bank Debit Card Account 1,191 1,191 1,990
Cash at bank and in hand 55,010 - - - 55,010 75,748
Total 320,856 2,837 112,005 2,500 438,198 558,866
26 Payment to Trustees General CMTF Desig 22/23 Total 21/22
Stipends and salaries (less charges) Note 8 264,476 264,476 300,990
Other Payments made to trustees 1,505 1,505 1,610
Total 265,980 265,980 302,600
No. of trustees who were paid expenses 13 15
Nature of the expenses
Expense payments primarily relate to reimbursement for local preaching or travel costs apart from staff costs
**----- End of picture text -----**
**----- Start of picture text -----**
27 Fees for examination/audit of accounts General CMTF Desig 22/23 Total 21/22
Audit Fee 23/24 12,500 12,500 -
Independent examiner’s fees (21/22) 1,044 1,044 996
13,544 13,544 996
**----- End of picture text -----**
The Circuit acted as Agent either in the collection or facilitation of the monies below and they do not form part of the Circuit's accounts. Related party transaction has been paid on and logged as received directly from the church.
|**28 **|**Collected and passed to others**|**22/23 Total**
**21/22**
66,272
56,169
14,138
30,870
58,529
-
167
40
320
372|
|---|---|---|
||Church Salaries
Purchases on behalf of churches
Closing Balances to LEP partners
Leaving Gifts/misc
Cheques to Circuit for related parties
**Total**||
|||**139,425**
**87,451**|
24
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632 **Leeds South & West Methodist Circuit 27/01**
**Year ended 31st Aug 2023**
## **Notes to the Accounts**
## **29 Detailed analysis of individual fund movements**
**----- Start of picture text -----**
Unrestricted Funds Opening Income Expenditure Transfers Closing Balance Purpose of the funds
Balance /Adjustments
General 422,811 420,237 521,861 -1,146 320,040 General operations
Property 2,250,606 990,000 0 0 3,240,606 Value of property
closure/merger of societies and churches
Designated Funds 0 147,660 35,655 0 112,005
buildings passed to circuit oversight.
property sales/investment income, use per
CMTF 108,386 3,120 3,228 -6,691 101,587
standing orders
Totals 2,781,802 1,561,017 560,744 -7,837 3,774,238
Restricted Funds Opening Income Expenditure Transfers Closing Balance Purpose of the fund
Balance
TMCP Waters Fund 2,500 0 2,500 Children's participation in music and worship
Totals 0 2,500 0 0 2,500
**----- End of picture text -----**
## **30 Tangible Fixed Assets**
The Circuit owns 8 Residential properties. 1 is advertised for let as it is surplus to our current needs. Change in investment property represents change in manse to be let, (Becketts Park). 3 Church buildings moved under Circuit control as societies closed and merged. Value are net of Connexional levy and estimated charges) There are no other fixed assets of significant value.
|**31 **|Residential
Land*
Other
Land*
Manses &
Churches
Investment
property
Total
Bal B/fwds
1,350,364
806,754.40
93,488
2,250,606
Additions
594,000
396,000
990,000
Revaluation
-
.
disposals
-
Transfers
-
Balance C/Forward
1,350,364
594,000
1,202,754
93,488
3,240,606
**Accumulated Depreciation**
Basis
SL or RB
SL or RB
Rate
Bal B/fwds
Additions
Revaluation
disposals
Transfers
Balance Carried Forwards
**Net Book Value**
Bal B/fwds
1,350,364
-
806,754
93,488
2,250,606
Balance C/Forward
1,350,364
594,000
1,202,754
93,488
3,240,606
*Land/building split estimated at 60/40 of deemed valuations last year
Bal B/fwds
Additions Revaluation
Transfers
Balance C/Forward
**Investments**
103,130
153,173
7,837
-
-
248,466|
|---|---|
||**Investments**|
25
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
**Leeds South & West Circuit**
## **32 Related party transactions**
## **This year**
**----- Start of picture text -----**
Name of related party Relationship Description of transaction Income from Payments to Loans to Amounts
related party related party related owed by
during the during the year party during related party
year the year as on 31-Aug-
2016
£ £ £ £
Methodist Church Fund National Church Fund Circuit Assessment 72,309
Methodist District Yorkshire - West District Funds Circuit Assessment 14,255
Mission in Britain Fund Methodist Charity Church Funds banked direct 686
Fund for Support of Presbyters & Deacons Methodist Charity Church Funds banked direct 686
Fund for Property Methodist Charity Church Funds banked direct 825
World Mission Fund (inc JMA) Methodist Charity Church Funds banked direct 2,944
Methodist Fund for Training Methodist Charity Church Funds banked direct 195
Methodists Ministers' Housing Methodist Charity Church Funds banked direct 75
Total - 91,975 - -
**----- End of picture text -----**
26
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Circuit**
## **33 Net cash provided by (used in) operating activities**
|Net Income
Income from investments
Income from lettings
Fixed Asset Investment donations
Loss on investment assets
Property received into Circuit Control
Increase/(decrease) in debtors
Increase/(decrease) in creditors
**Net cash provided by (used in) operating activities**|**22/23**
**21/22**
**£**
**£**
994,935
18,326
(17,969)
(4,768)
(10,466)
(153,173)
7,837
6,913
(990,000)
(1,057)
985
20,791
(4,307)
**(138,636)**
**6,683**|
|---|---|
27
Docusign EnvelopÈ ID". A554B986-3AD94AF5-8E2F-C33F4035D632
Leeds South & West Clrcult
DECLARATIONS
Treasurer
I confirm that these acuual ba86d accounts fot the 8fended 3151 Aug 2023 ho¥e been prep8red from
Ihe COrdS of the Circuil ind that they i*¢lude d fund5 under the coTrtrol of the Cir¢uil Mettir8.
Slynature ofTrea5urar
3ts19123
ofTwwEr
H C Botrrfk
22 Burnett R*•, e8n8bury, Bratttord, Wesl York$h*o, 8013 2DX
Pr•s•ntatlon to thè Clreuli M••tlng forapproval.
l ¢onfirm Ihat tho a¢¢ounts for the y•ar ondod 31 Aug 2023were pr2$ented to t
CSrcuil Meeting at its meeting On
d were aptyoved..
Sl9n¥iure of the Chair of
the meelu
N•ne of the Chair of Ihe
meolmg
Rw Jo U9Mv•l•r
28
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit**
## **Appendices**
**A. Trustees of the Charity**
**B. Reserves Policy C. Last year’s SOFA and Balance sheet**
29
Docusign EnvelopÈ ID". A554B986-3AD94AF5-8E2F-C33F4035D632
30
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
Leeds South and West 27/01 Constitution of the Circuit Meeting
## **Appendix A**
## S.O. 510 (i) **Circuit Ministers and Supernumeraries**
Revd Jo Lightowler Revd Mo Onyett Revd Pete Brazier Deacon Guy Austin-Bride
Revd Rach Ward
Revd Madeline Andrews Revd Peter Reasbeck
## **Circuit Stewards**
Miss Anne Jackson Miss Audrey Wilks Mrs Kirsty Butler Mr Stuart Westerman Mr Peter Cordwell Mr Edmund Linfield Mr Philip Maud Mrs Elizabeth Smith Dr Rob Moore
**S.O. 510 (ii) Residing in the Circuit** Revd Melvyn Kelly Revd David Goodall (non-voting member)
Revd Keith Hunt
## **S.O. 510 (iv) Lay employees**
Miss Cathy Boocock (Treasurer) Mrs Erica Hartley (CM Sec) (& **S.O. 510 v** )
Mrs Sharon Brocksom (Children & Families Development Worker)
**S.O. 510 (vi)** Mrs Janet Taylor (sec of Local Preachers’ & Worship Leaders’ Meeting)
## **S.O. 510 (vii & viii) Church Representatives and Office holders**
From each church, 1 church steward 1 church treasurer, 1 church rep or Where the presence of the senior steward, treasurer and one other representative does not provide three representatives to the Circuit Meeting from the local church (eg where the role of treasurer is fulfilled by circuit provision, or where the treasurer is also senior steward), additional representatives to bring the local church representatives to a maximum of three may be appointed.
|**Church**|**Steward- S.O 510 (vii)**|**Treasurer S.O 510 (vii)**|**Rep S.O 510 (viii)**|
|---|---|---|---|
|Adel|Mrs Michelle Rock|Miss Cathy Boocock*|Mrs Cherrie Dacre|
|Beeston Hill|Mr Roy Sheard|Mrs Carol Normanton|Mrs Pauline Peacock|
|Central|Mr Paul Metcalfe|Mrs Margaret Metcalfe|Mrs Victoria Rose|
|Cookridge|Miss Elizabeth Beetham|Mrs Linda Storey|Mrs Jean Gosling|
|Farsley|Mrs Linda Kellett|Miss Cathy Boocock*|Mr John Procter|
|The Grove|Mrs Kath Ashby|Mr Bryan Whitham|Mrs Ann Bailey|
|Headingley|Prof Gordon Andrews|Mrs Jean Townsend|Vacant|
|Highfield|Mr Aidan Jewitt|Mr Fred Jewitt|Mrs Andrea Evers|
|Hunslet|Mrs Barbara Hartley|Mrs Caroline Mason|Mr Ian Hartley|
|Hyde Park|Mrs Jackie Hillyard|Mr Simon Brocksom|Mrs Pat Hemingway|
|New Whingate|Mr Brian Draper|Mr Keith Harrison|Mrs Glynis Clarke|
|Rodley|Mr John Uren|Mr Brian Thornton|vacant|
|St Andrew’s, Beeston|Vacant|Mrs Elizabeth Smith|Mrs Helen Ingleby|
|St Andrew’s Pudsey|Mrs Dorothy Stefanidis|Miss Cathy Boocock*|Mrs Carol Simpson|
|St John’s|Mrs Susan Hogarth|Mr Stuart Pedder|Mr Emmanuel Oikelome|
|St Mark’s|Miss Barbara Edwards|Miss Cathy Boocock*|Miss Sophie Lockwood|
|Trinity, Bramley|Mrs Pam Bruce|Mrs Frances Wood|Mr David Wood|
## **S.O. 510 (ix) to be reviewed annually**
**Methodist Standing Order 010 Qualification for appointment states: (2(ii))** no person who has been convicted of or has received a simple or conditional caution from the police concerning an offence under the Sexual Offences Act 2003 or mentioned in Schedule 15 to the Criminal Justice Act 2003 or who is the subject of a risk assessment under Standing Order 237 as a result of which the Safeguarding Committee concludes that he or she presents a significant risk of serious harm to children, young people or vulnerable adults shall be appointed or re-appointed to any office, post or responsibility or engaged or re-engaged under any contract to which this sub-clause applies unless authority for the appointment or employment has been obtained under Clause (5) below. (See CPD)
31
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
_Please note these figures were agreed by trustees before the Audit fee £12,500 was incurred and deducted from the accounts. The general fund, totals and the 6 months expenditure allocation would need to be reduced by this amount._
32
Docusign EnvelopÈ ID". A554B986-3AD94AF5-8E2F-C33F4035D632
totals below.
Fund have also been set aside to support the additional church buildings 1¢h have passed to circuit
control and to help societs'es as they close or merge together.
In summary, the Circuit has agreed the fcllowng designations lo our finanw across both the General &
CMTF nds.
£ 220,000 6 month's Expenditure
£ 30,000 Property Maintenance plan
£ 60,000 Church Contingency fund for emergencies, assessment non-payment
£ 112,005 Closurelmerger of societies and churches buildings passed to circuit oversight.
£ 28,627 Grants support to churches, Circuit Mission and outreaeh, Eco projects
£ 10,000 Training. Resources and youthwork
£ 18,000 stalulory redundancy costs in caso of emergency
£ 67 500 to meet the assessment deficit.
£ 546,132 Ilolal of General. Designated and M(>Jel Trust)
Amounts already recognised in the circuit accounts and provisions made outside of this policy
£90.000 for future Grants to Churcheslcharilies already agreed.
As redundant propety is sold, the funds will be used in accordanee wth the circurt financial framework
document to invest in our remaining church and circuit mission and maintenance plans
Banevolence Policy
The Superintendent andlor CLT to be aulhorised to respond to crisis situations with individuals, as
necessary, up lo 1.50/0 of our cash fesources as listed above and would come from our crisis budget
IGenlModel Trusti.
5. Pollc
for Restrlcted Funds
£2500 received from the closure of Woodside lo be spent on youth work, with an emphasis on
helping children participate in music and Worship.
Torms relatin
None held
to Endobwnent Funds held
This Reserves Policy has been approved
Logds South & West Methodist Clrcult
I'church CounciiD Clrcult meet6ng0lS1rlCI
Treasurer
Full name
Miss Helen C Boocock
Signature
Trustee
Full Name
Rev Jo Lighlowler
SignaluTe
33
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Appendix C**
## **Leeds South & West Methodist Circuit**
## Statement of Financial Activities to 31st Aug 2022
**----- Start of picture text -----**
No. 21/22 2020/21
Income
Donations & Legacies 4 1,486 1,486 - 1,486 385
Charitable Activities 5
Assessments from Churches 412,017 412,017 412,017 421,731
Other Charitable Activities 23,700 23,700 23,700 3,233
Other Trading Activities
Income from Lettings 6 10,466 10,466 10,466 3,266
Investments 7 2,643 2,643 2,142 4,786 2,410
Other Income 8 - 179,964 179,964 -
Total Income 450,313 - 450,313 182,107 632,420 431,026
Expenditure
Stipends, Sals, NIC, Pensions 9 302,724 302,724 302,724 272,086
District Assessment 10 14,676 14,676 14,676 17,324
Methodist Church Fund 11 73,432 73,432 73,432 75,616
Telephone & Travel 12 8,066 8,066 8,066 4,535
Insurance & Utility costs 13 24,661 24,661 24,661 25,557
Maintenance on Manses 14 19,053 19,053 19,053 39,166
Other Outgoings 15 68,041 68,041 48,313 116,354 34,694
Grants and Donations 16 44,977 44,977 - 44,977 50,000
District Advance Fund 17 - 3,237 3,237 2,590
-
Total Charitable expenditure 555,630 555,630 51,550 607,180 521,568
Net Income/Exp before gain/loss - 105,317 - - 105,317 130,557 25,240 - 90,543
Transfers between Funds 18 130,000 - 130,000 (130,000) - -
24,683 - 24,683 557 25,240 - 90,543
Gain/Loss on reval/sale of fixed assets - - - 98,810
Gain/Loss on investment assets 19 - - 6,913 - 6,913 17,067
Balances brought forward 398,128 2,250,606 2,648,734 114,742 2,763,476 2,738,141
TOTAL Funds 422,811 2,250,606 2,673,417 108,386 2,781,802 2,763,476
Monies received for others 28 87,451 68,933
Monies passed on to others 87,451 68,933
- -
General Property Total General CMTF
**----- End of picture text -----**
34
Docusign Envelope ID: A554B986-3AD9-4AF5-8E2F-C33F4035D632
## **Leeds South & West Methodist Circuit** Balance Sheet as at 31st Aug 2022
**----- Start of picture text -----**
Unrestricted
2021/22 2020/21
Fixed Assests £ £
Circuit Manses & Equipment 2,250,606 2,250,606 2,157,118
Investment Properties - - 93,488
Investments TMCP 103,130 103,130 110,043
20 Total fixed assets 2,250,606 103,130 2,353,736 2,360,649
Current Assets
21 Debtors & Prepayments 21,721 21,721 22,705
- -
Loans by the Circuit
Trustee for Methodist Purposes 5,256 5,256 4,699
Central Finance Board 477,861 477,861 478,005
Cash at bank and in hand 75,748 75,748 54,244
Total current assets 575,331 5,256 580,587 559,654
22 Creditors (due under 1 year) 93,045 93,045 93,009
23 Grants agreed 59,475 59,475 60,000
Net current assets/liabilities 422,811 5,256 428,067 406,645
Total assets less current liabilities 2,673,417 108,386 2,781,802 2,767,294
- -
Creditors and Accruals > 1 year
24 Provisions for liabilities and charges - - 3,818
Net assets 2,673,417 108,386 2,781,802 2,763,476
Funds of the Circuit
25 General Fund (unrestricted) 2,673,417 2,673,417 2,648,734
Circuit Model Trust Fund (Unrestricted) 108,386 108,386 114,742
- -
Designated Funds (Unrestricted)
Total Unrestricted Funds 2,781,802 2,763,476
Restricted Funds - -
Total Funds 2,673,417 108,386 2,781,802 2,763,476
General CMTF
**----- End of picture text -----**
35