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2020-08-31-accounts

THE METHODIST CHURCH

TRUSTEES' REPORT AND ACCOUNTS for the year ended 31 August 2020

BUDE AND HOLSWORTHY METHODIST CIRCUIT

Registered Charity - Registration number 1129530

Plymouth & Exeter District Plymouth & Exeter District District No / Circuit No 24/11
Ministers Rev Robert Blackhall(Superintendent to 31/08/2020)
Rev Simon Leigh(Superintendent from 01/09/2020)
Rev Neal Street
Deacon Debbie Marsh
Circuit Stewards Mr John Barrett(to 07/07/2021)
Mrs Sue Brooks
Mrs Christine Forster
Mr Jonathan Hobbs
Mrs Cath Paddon
Mr Mark Shepherd
Mr Andrew Pitt(from 07/07/2021)
Mrs Michelle Hogarth(from 07/07/2021)
Circuit Treasurer Mr RoyMackenzie,FCA

BUDE AND HOLSWORTHY METHODIST CIRCUIT TRUSTEES' REPORT AND ACCOUNTS for the year ended 31 August 2020

Page
Trustees' Annual Report 1 - 5
Statement of Financial Activities, Year ended 31st August 2020 6
Statement of Financial Activities, Year ended 31st August 2019 7
Balance Sheet as at 31st August 2020 8
Notes to the Accounts 9-14
Declarations 15-16
Appendix - Members of the Circuit Meeting 17

BUDE AND HOLSWORTHY METHODIST CIRCUIT Registered Charity No. 1129530 TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2020

Introduction

The Trustees present their Annual Report and the Accounts for the year ended 31st August 2020.

The Bude and Holsworthy Methodist Circuit covers the area of North Devon and North Cornwall from Hartland in the north to Poundstock in the south, and from the coast at Bude to the market town of Holsworthy in the east.

During the year, the Circuit served 18 Methodist Churches, with memberships ranging from 6 to 121 members, and has a total membership of 472. One chapel resolved to close, and this will be effective in 2020/21

Aims and organisation

The purposes of the Methodist Church are the advancement of the Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church, any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church, and any charitable purpose for the time being of any society or institution or subsidiary or ancillary to the Methodist Church.

In pursuit of those objectives, the Circuit's Mission Statement is, "To know Christ and make Christ known.".

In common with other Methodist bodies, the Circuit is governed by the Methodist Church Act 1976, the Deed of Union and the Model Trust Deeds of the Methodist Church.

The Circuit Meeting are the Trustees of the Circuit: members of the Circuit Meeting include representatives appointed by the Church Councils of churches within the Circuit, together with the Ministers stationed in the Circuit, Supernumerary Ministers residing in the Circuit and the Circuit Officers, who serve ex-officio as trustees.

The Circuit Leadership Team (CLT), comprising the Circuit Ministerial Staff and Circuit Stewards, meets regularly to keep under review the life of the Circuit and to take forward the decisions of the Circuit Meeting.

Public Benefit

The trustees confirm that they have complied with the duty under the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit. Specifically:

The churches in the Bude and Holsworthy Methodist Circuit exist to help people find and follow Jesus in an ever changing world. The Circuit aims to support all its churches in their efforts to reach out into their communities to meet the needs of members and nonmembers. The Circuit recognises and encourages the diversity of approaches to mission among its churches, and makes resources available to help them in their work.

The actions of the Circuit and its member churches include:

● the arrangement of public worship and education in the Christian religion;

● giving encouragement and assistance to those seeking to know more about the Christian faith, including the organisation of Alpha Courses and similar activities, and assistance with the training of those called to serve as local (lay) preachers and worship leaders;

● many churches make their premises available to other organisations that need somewhere to meet.

Safeguarding

The Circuit follows the Connexional policy on safeguarding as detailed in Creating Safer Space. Each church has a safeguarding representative and there are safeguarding officers in the Circuit to ensure the adoption of safe practice amongst children and vulnerable adults. Appropriate training is provided on safeguarding issues for all involved in leadership roles within the Circuit, and supervision of the necessary checks under the safeguarding legislation.

Review of the year

During the year, the Circuit continued to operate without a full-time Superintendent Minister, and we are very grateful for the significant input provided by Rev Robert Blackhall, Superintendent Minister of the neighbouring Torridge Circuit, who continued to also act as our Superintendent, and made a significant contribution to our Circuit. Rev Neal Street and Deacon Debbie Marsh continued as our full-time ministerial team, together with three lay staff, Tim Stokes, Mary Street and Michelle Hogarth, and a number of volunteers.

Some roles traditionally taken by the Ministerial team have been taken on by lay people, including lay chairmanship of church councils and the authorisation of additional lay people to celebrate the Sacraments, and lay staff and volunteers have made a significant contribution to pastoral care,

A major factor affecting the work of the Circuit during the year was the Covid 19 pandemic, and the resultant government regulations, which meant that churches could not open for public worship or most other activities. The circuit leadership team and circuit staff have responded by developing a range of internet based activities, including pre-recorded services on YouTube, and live services, prayer meetings, Bible studies and other activities such as messy church on platforms such as Zoom and Teams. We are most appreciative of everyone's commitment to working in these new ways.

Deacon Debbie Marsh continued to work mainly at Bude Methodist Church, and Rev Neal Street had pastoral oversight of the rest of the Circuit.

Until the shutdown caused by the pandemic, the circuit continued to offer some weekday courses during the year, and to maintain a viable preaching plan for Sunday services.

Risk Management

The Circuit:

Income trends

Circuit income is primarily drawn from the assessment paid by the circuit churches.

In addition, we have received a grant from the Plymouth and Exeter Methodist District towards the cost of the Deacon's appointment, and rent from the Methodist Connexion for the manse at Hartland, currently occupied by a minister without appointment. As a new Superintendent Minister was not stationed in the Circuit, we were also able to let the manse at Chilsworthy on an Assured Shorthold Tenancy.

During the year, the membership of the Poughill Chapel decided that they could no longer remain viable in view of advancing age and declining numbers, and the decision was taken to seek closure, which will be effective in the year ending 31st August 2021, after approval at Circuit and District level.

The redundant chapels at Flexbury Park, Woodacott and Bangors (Poundstock) remained in the hands of the Circuit throughout the year. Terms for the sale of Flexbury Perk Chapel were agreed during the year, and contracts were exchanged and the sale completed in December 2020.

Woodacott Chapel remains in the hands of the Circuit, and is on the market, but a buyer has yet to be found. Bangors Chapel has been retained with the intention to use it as an outreach and community recource, but it is now expected that this will also be sold, as it is unlikely to be viable in this role.

Income and Expenditure trends

The Circuit remains dependent on the contributions of the member churches in the Circuit Assessment for the bulk of its income. The churches, in their turn, rely on collection income to meet their outgoings, and for many, this has obviously been seriously depleted during the enforced closure. We record, with gratitude, the fact that most churches have been able to pay all or a substantial part of their assessment share, through the good stewardship of their treasurers and stewards.

The reduction in Ministerial staffing and increase in rental income should have allowed for a reduction in the level of the assessment raised from the chapels in the Circuit, but the Circuit Meeting agreed to maintain the level in order to build up reserves towards the anticipated increase in costs when a new Superintendent in stationed in the Circuit, probably in September 2020.

Approximately 17% of expenditure in the year is the Circuit contribution to the District and Connexion, of which a significant part is used to fund the work of the wider Methodist Church.

Expenditure on maintenance of manses was less this year, as the Chilsworthy manse was refurbished ready for the arrival of our new Superintendent Minister mto take up his post in September 2020,

Fund balances

The overall increase in fund balances over the year was £18,229.

The General Fund balance at 31st August 2020 was £421,928, but this includes the carrying value of the three redundant chapels totalling £346,798.

The Model Trust Fund balance at 31st August 2020 was £35.213. This has been enhanced since the accounting date by the sale proceeds of the Flexbury site, and hopefully, by the sale of Woodacott Chapel, when satisfactory sales can be concluded.

Designated Fund balances totalled £1,285,892, which includes the value of manses £1,264,444, the balance of £21,448 being monies set aside for repairs and other outgoings on manses, outreach work and removal costs on changes in stationing.

Restricted Funds totalled £25,452, mainly in respect of funds held for the maintenance of graveyards.

Endowment Funds totalled £7,943, being trust funds transferred from Woodacott and Bangors Chapels. We will be looking into the appropiate use of these funds.

Plans for 2020/21

The Circuit Staffing increased from 1st September 2020, with the stationing of Rev Simon Leigh as our (full time) Superintendent Minister. In addition, we have had the part-time ministry of Rev Stephen Hill, who lives in the Hartland manse, without cost to the Circuit. In view of the difficulties arising from the Covid 19 pandemic, the decision has been taken to support the circuit Assessment from reserves and from the proceeds of sale of Flexbury Chapel. During the lockdown, further development of online ministry has been undertaken. It is hoped that regular services will resume during 2020/21.

Reserves Policy

This policy includes all funds held by the Circuit Meeting as Trustees.

Our Reserves Policy relates to our general (unrestricted) funds which are freely available to be used for any or all of the purposes of the Circuit. Other funds are also included for the sake of clarity and openness and to show that the Circuit has a policy for the management of all its money.

Aims. Our aims are twofold:-

To secure and sustain the Circuit’s viability and future;

To give reassurance to the general public that the Circuit, which is a charity, intends to use all the money coming into its care for the purposes of the charity.

Mission Policy . The Circuit’s Mission Policy is

Financial Plans

An annual budget is prepared, providing for anticipated costs for the coming year, and within which provision is also made for sums to be set aside in designated accounts to meet the regular cyclical costs, particularly in relation to manse repairs and to meet removal costs for incoming ministers.

Exceptionally, the Circuit may decide to operate a deficit budget.

The total amount to be raised under the budget is collected from the local churches through the Circuit Assessment. Various different bases for dividing the Assessment between the local churches are considered, and an appropriate basis is selected by the Circuit Meeting as Trustees .

Where exceptional expenditure has to be incurred, for example to meet major repairs to manses identified during Quinquennial Inspections, or to make improvements to manses, part of the cost may be provided from the Model Trust Fund (formerly the Circuit Advance Fund), on an ad hoc basis, as agreed by the Circuit Meeting.

Local chapels may apply for assistance (for example, with building improvements) from Circuit funds, including the Model Trust Fund, but such assistance will only be given if the expenditure is incurred to further mission.

Under Standing Orders, the Circuit must meet its financial obligations. To ensure that sufficient funding is available, it is our Reserves Policy that we should seek to maintain our reserves on Unrestricted Funds to represent at least three months’ average expenditure. Recognising the financial constraints which affect chapels within the Circuit, we will seek to progressively increase reserves by prudent financial management. Our annual budgets include an allocation to meet contingencies, and in those years when such contingencies do not absorb the whole of that amount, any unused balance will be retained to increase reserves. The Circuit will also accept any donations which may be offered towards increasing the Reserves.

The Circuit Model Trust Fund , which derives mainly from the sale of chapels and manses, was previously a restricted fund which could be used for a limited range of purposes. Its use was formerly restricted by an internal regulation of the Methodist Church, but it may now be used for any Methodist purpose, while standing orders remind circuits of the primary purposes of the fund.

It is our policy to use the Model Trust Fund primarily to fund exceptional expenditure on the purchase, maintenance and improvements of manses, and to make grants from the Fund to facilitate repair and improvement of chapels. However, in years when a deficit budget has been approved, funds may be drawn from the Model Trust Fund to meet any such deficit.

This Report has been signed under delegated authority under S.O. 551(2)

This Report and Accounts will be presented to the Circuit Meeting on 1st June 2022 and signed on behalf of the Meeting by

……………………………………… ………………………………

Rev Simon Leigh Roy M. Mackenzie, FCA Superintendent Minister Circuit Steward (Finance) Date 22nd March 2022

Circuit No 24/11

Name of Circuit Bude and Holsworthy

Statement of Financial Activities (SOFA) for the year ended 31 August 2020

Notes to Notes to Circuit Model Circuit Model Designated Designated
the General Fund Trust Funds Restricted Endowment Total
accounts
(Unrestricted)		 (Unrestricted) (unrestricted) Funds Funds 2019-20
£ £ £ £ £ £
Income
1 Donations and legacies 1,056 1,056
2 Income from monetary investments 301 325 157 97 880
3 Income from investment properties 19,060 19,060
4 Assessments on Churches 218,408 218,408
5 Capital Receipts 3 9,434 7,943 17,380
6 Grants received 9,000 50 9,050
7 Other charitable income 26 7,644 9
8Total income 246,798 325 7,801 10,646 7,943 273,513
Expenditure
9 Grants and donations 1,956 595 2,551
10 Salaries and associated costs 114,842 114,842
11 Property maintenance 5,813 23,455 828 30,096
12 Connexional assessment & model trust levy
13 District Assessment & Levy		 } 42,005 947 42,952
14 Depreciation 200 200
15 Office expenses 3,570 1,199 4,769
16 Other outgoings 36,302 76 23,427 50 59,855
17Total charitable expenditure 202,732 2,979 48,081 1,473 0 255,265
18 Gains/(losses) on monetary investments ( 19) ( 19)
19 Gains/(losses) on investment properties
20Net income/(expenditure) 44,066 ( 2,673) ( 40,280) 9,173 7,943 18,229
21 Transfers between funds ( 38,201) 35,600 2,601 -
22 Other gains/(losses)
23Net movement in funds 5,865 **( ** 2,673) **( ** 4,680) 11,774 7,943 18,229
24 Total funds brought forward 416,063 37,886 1,290,572 13,678 1,758,199
25 Total funds carried forward 421,928 35,213 1,285,892 25,452 7,943 1,776,428

Name of Circuit: Bude and Holsworthy

Circuit No 24/11

Statement of Financial Activities (SOFA) for the year ended 31 August 2019

Income
1 Donations and legacies
2 Income from monetary investments
3 Income from investment properties
4 Assessments on Churches
5 Capital Receipts
6 Grants received
7 Other charitable income
8Total income
Expenditure
9 Grants and donations
10 Salaries and associated costs
11 Property maintenance
12 Connexional assessment & model trust levy
13 District Assessment & Levy
14 Depreciation
15 Office expenses
16 Other outgoings
17Total charitable expenditure
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20Net income/(expenditure)
21 Transfers between funds
22 Other gains/(losses)
23Net movement in funds
24 Total funds brought forward
25 Total funds carried forward
}		 General Fund
(Unrestricted)
Circuit Model
Trust
(Unrestricted)
Designated
Funds
(unrestricted)
Restricted
Funds
Endowment
Funds
Total
2018-19
£
£
£
£
£
£
1,626
1,626
200
257
134
92
683
23,940
23,940
225,436
225,436
180,200
180,200
10,000
50
10,050
2,943
84
3,027
439,776
257
3,077
1,852
-
444,962
4,246
1,224
5,470
106,792
106,792
1,514
11,839
425
13,778
6,640
393
228
228
3,535
2,390
5,925
33,500
32
20,275
101
53,908
185,177
11,311
34,504
1,750
-
232,742
39,608
46,641
13
13
254,599
( 11,041)
( 31,427)
102
-
212,233
( 68,002)
33,202
34,800
-
186,597
22,161
3,373
102
-
212,233
229,466
15,725
1,287,198
13,576
1,545,965
416,063
37,886
1,290,571
13,678
-
1,758,198

0

Name of Circuit

Bude and Holsworthy Methodist Circuit

Circuit No

24/11

Balance Sheet as at 31 August 2020

Fixed Assets Notes to the
Accounts		 General Fund
(Unrestricted)
£		 Circuit Model
Trusts
(Unrestricted)
£		 Designated
Funds
(Unrestricted)
£		 Restricted
Funds
£		 Endowment
Funds
£		 Totals
2019/20
£		 Totals
2019/20
£		 Totals
2018/19
£
Circuit Manses & Equipment 1,264,844 1,264,844 1,265,044
Investmentproperties 346,798 346,798 346,798
Investments 1,064 1,064 1,084
Total fixed assets 1,611,642 1,064 0 0 0 1,612,706 1,612,926
Current Assets
Debtors 28,941 3,400 4,320 7,943 44,604 16,103
Loans bythe Circuit 8,476 8,476 0
Investments with TMCP 34,149 34,149 36,802
Investments with Methodist Chapel Aid 390 390 388
Central Finance Board Deposits 55,433 13,884 13,424 82,741 83,497
Cash at Bank and in hand 25,566 4,967 7,318 37,851 54,578
Total current assets 118,416 34,149 22,251 25,452 7,943 208,211 191,369
Current liabilities
Creditors (due in under 1 year) 43,686 803 44,489 46,097
Grantspayable within 2020/21 0 0
Total current liabilities 43,686 0 803 0 0 44,489 46,097
Net current assets/liabilities 74,730 34,149 21,448 25,452 7,943 163,722 145,272
Total assets less current liabilities 1,686,372 35,213 21,448 25,452 7,943 1,776,428 1,758,199
0
0
0
1,686,372
35,213
21,448
25,452
7,943
1,776,428
Long term liabilities
(due after more than oneyear)
Grantspayable after 2018-19 0 0
Loans to the Circuit 0 0
0 0
Net assets 1,686,372 35,213 21,448 25,452 7,943 1,776,428 1,758,199

Funds of the Circuit

Funds of the Circuit
General Fund(Unrestricted)- Sundry 421,928 35,213
21,448
25,452
7,943		 421,928 416,063
- Invested in Manses 1,264,444 1,264,444 1,264,444
1,680,507
Circuit Model Trust Fund (Unrestricted) 35,213 35,213 37,886
Designated Funds (Unrestricted) 21,448 21,448 26,126
Total Unrestricted Funds 1,743,033 1,744,521
Restricted Funds 25,452 25,452 13,678
Endowment Funds 7,943 7,943 0
Total Funds 1,686,372 35,213 21,448 25,452 7,943 1,776,428 1,758,199

Signed

R.M.Mackenzie Circuit Treasurer

Circuit No 24/11

Bude & Holsworthy Methodist CIrcuit

NOTES TO THE ACCOUNTS Year ended 31st August 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Rent receivable and investment income

Rent receivable in the financial statements is the amount of rent due to the charity for the financial period. Any income received in advance is included as deferred income.

Investment income from interest and dividends is shown in the accounts on a receivable basis.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure includes VAT as it is irrecoverable.

Grants payable are recognised as expenditure when the grant is approved by the Board of the Trustees and the decision has been communicated to the recipient.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold Land and Buildings - Nil Fixtures and Fittings - 25% of cost per annum straight line basis

All fixtures and fittings are included at historic cost and are reviewed for impairment at each balance sheet date.

Taxation

The charity is exempt from tax on its charitable activities.

Pension Schemes

The Circuit contributes to the Methodist Church defined benefit scheme in respect of ministerial staff and a defined contribution scheme for certain lay staff, and contributions are charged in the accounts as they are paid.

Circuit No 24/11

Bude & Holsworthy Methodist CIrcuit

NOTES TO THE ACCOUNTS Year ended 31st August 2020

Funds

Unrestricted

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. The Circuit Model Trust Fund has wide purposes definded in Standing Orders and is categorised as unrestricted.

Designated

Designated funds are those unrestricted funds which have been set aside by the trustees for a particular purpose, but may be used for other purposes at the discretion of the trustees.

Restricted

Restricted funds are held for a specific purpose, as specified by the donor(s).

Endowment

Endowment funds are funds where the capital is held on a permanent basis, and only the income can be spent for the purposes of the charity. However, during the year ended 31st August 2017, the small balances held on endowment funds were transferred into general fund under the provisions of the Charities Act 2011 and the Releasing Funds for Mission initiative of the Methodist Church.

Financial instruments

The charity only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as accounts receivable and payable, monies held in the bank, and investments.

Debtors

Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due.

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.

Investment assets and unrealised gains

Investment assets in the form of the Central Finance Board Managed Mixed Fund, are shown in the financial statements at fair value.

Unrealised gains on investment and other assets represent the difference between the fair value at the end of the year and:

i) for investment and other assets held at the start of the year, the fair value at that date, or ii) for investment and other assets acquired in the year, the cost of acquisition. Changes in fair value are recognised in the SoFA.

GOING CONCERN

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Circuit No 24/11

Bude & Holsworthy Methodist CIrcuit

2. DEBTORS AND PREPAYMENTS

NOTES TO THE ACCOUNTS Year ended 31st August 2020

Prepaid Stipends
Other Prepaid Expenses
Grant Reveivable
Arrears of Circuit Assessments
Balances awaiting Transfer from Closed Chapels
Sundry Debtors
Total		 31/08/2020 31/08/2019
9,339
£		 5,903
£
7,208
£		 9,933
£
9,000
£		 -
£
6,793
£		 -
£
12,264
£		 -
£
-
£		 267
£
44,604
£		 16,103
£

3. CREDITORS

Assessments Paid in Advance
Grant Approved for Chapel Repairs and Improvements
Other Creditors
Total		 31/08/2020 31/08/2019
40,651
£		 40,559
£
-
£		 -
£
3,838
£		 5,538
£
44,489
£		 46,097
£

4. PAYMENTS TO TRUSTEES

(1) No payments were made to trustees for additional services provided to the Circuit by agreement with the Circuit Meeting, apart from Stipends and Salaries detailed below.

(2) Trustee expenses reimbursed:

Total Amount Reimbursed
Number of Trustees		 2019/20 2018/19
10,586
£		 10,542
£
11 7

Expenses payments relate mainly to travel and other out of pocket expenses

5. FEES PAID FOR EXAMINATION OR AUDIT OF ACCOUNTS.

Independent examiner’s or auditors' fees for reporting on the accounts
Other fees (eg: advice, accountancy services) paid to the independent
examiner or auditor		 2019/20 2018/19
-
£		 -
£
-
£		 -
£

6. PAID EMPLOYEES.

Staff Costs during the year were as follows:

Gross Pay
Superannuation Contributions
Employer's National Insurance
Apprenticeship Levy
Total
The average number of employees was		 2019/20 2018/19
91,929
£		 85,249
£
15,735
£		 15,086
£
6,702
£		 6,030
£
476
£		 427
£
114,842
£		 106,792
£
5
5

7. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

At the 31st August 2020 there are no capital commitments.

No Contingent liabilities were identified at 31st August 2020.

Circuit No. 24/11

Bude & Holsworthy Methodist Circuit

NOTES TO THE ACCOUNTS Year ended 31st August 2020

8 Tangible Fixed Assets

The Circuit owns 4 manses at:

1, The Willows, Chilsworthy The Manse, Fore Street, Hartland Wistaria, 3 Killerton Road, Bude 24, Brook Drive, Bude

Other Buildings are redundant Chapels at:

Flexbury Park Methodist Church , which the Circuit Meeting has resolved to sell. Part of the property was sold in the previous year, and completion of the sale of the reminder took place after the year end.

Woodacott Methodist Church, for which the process of marketing this property has been put in hand,

Bangors Methodist Church, which was being retained for use as a Circuit asset, to be used for community outreach, but which is now likely to be sold.

Cost or valuation

Cost or valuation
Residential Land
£		 Other Land
£		 Manses
£		 Other buildings
£		 Other fixed assets
including motor
vehicles
£		 Fixtures, fittings
and equipment
£		 Total
£
Balance brought
forward
Additions
Revaluations (+/-)
Disposals (-)
Transfers *(+/-)		 - - 1,264,444 346,798 - 3,153 1,614,395
- - -
-
- -
-
Balance carried
forward		 - - 1,264,444 346,798 - 3,153 1,614,395

Accumulated depreciation

Basis
Rate
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value*		 SL SL SL
0% 0% 25%
2,553 2,553
200 200
0
0
0
0 0 0 0 0 2,753 2,753
Brought forward - - 1,264,444 346,798 - 600 1,611,842
Carried forward - - 1,264,444 346,798 - 400 1,611,642

Circuit No. 24/11

Bude & Holsworthy Methodist Circuit

NOTES TO THE ACCOUNTS Year ended 31st August 2020

9 Investment assets

2019/20 2018/19
1,064
£		 1,084
£

10 Analysis of Funds

Year ended 31st August 2020:

Fund Name Opening
Balance		 Incoming
Resources		 Resources
Expended		 Transfers Closing
Balance		 Purpose of the
Fund
Unrestricted Funds:
General Fund 416,063 246,798 (202,732) (38,201) 421,928 For any
purpose of the
Circuit
Circuit Model Trust
Fund		 37,886 325 (2,998) - 35,213
Designated Funds:
Manses Property Fund 1,264,444 1,264,444 Capital
Invested in
Manses
Manses Fund 14,240 6,576 (39,438) 30,600 11,978 Manse
Repairs and
outgoings
Outreach Fund 7,861 101 (4,482) 4,000 7,480 Outreach
Removals Fund 3,074 23 (2,960) 1,000 1,137 Ministers'
Removals
Together Magazine Fund 952 1,100 (1,199) 853 Circuit
Magazine
Total Unrestricted
Funds		 1,744,520 254,923 ( 253,809) ( 2,601) 1,743,033
Restricted Funds:
Benevolent Fund 1,245 9 - 1,254 Benevolent
Grants
Graveyard Funds:
Titson 5,324 348 5,672 Graveyard
Mainten'ce
Lana 7,095 99 (400) 6,794
Woodacott - 1,190 (200) 2,601 3,591
Bangors - 8,274 (228) 8,046
'Encounter' 15 726 (646) 95 Charitable
Fund
Total Restricted Funds 13,679 10,646 (1,474) 2,601 25,452
In accordance
with the terms
of the
endowment
Endowment Funds - 7,943 - - 7,943
Total Funds 1,758,199 273,512 (255,283) - 1,776,428

Circuit No. 24/11

Bude & Holsworthy Methodist Circuit

NOTES TO THE ACCOUNTS Year ended 31st August 2020

Comparative Figures for Year ended 31st August 2019:

Fund Name Opening
Balance		 Incoming
Resources		 Resources
Expended		 Transfers Closing
Balance		 Purpose of the
Fund
Unrestricted Funds:
General Fund 229,466 439,776 (185,177) (68,002) 416,063 For any
purpose of the
Circuit
Circuit Model Trust
Fund		 15,725 270 (11,311) 33,202 37,886
Designated Funds:
Manses Property Fund 1,264,444 1,264,444 Capital
Invested in
Manses
Manses Fund 7,225 61 (22,546) 29,500 14,240 Manse
Repairs and
outgoings
Outreach Fund 12,441 987 (9,567) 4,000 7,861 Outreach
Removals Fund 2,056 18 - 1,000 3,074 Ministers'
Removals
Together Magazine Fund 1,032 2,011 (2,391) 300 952 Circuit
Magazine
Total Unrestricted
Funds		 1,532,389 443,123 (230,992) - 1,744,520
Restricted Funds:
Benevolent Fund 1,236 8 - 1,244 Benevolent
Grants
Graveyard Funds: - -
Titson 5,080 244 5,324 Graveyard
Mainten'ce
Lana 7,239 281 (425) 7,095
'Encounter' 21 1,319 (1,325) 15 Charitable
Fund
Total Restricted Funds 13,576 1,852 (1,750) - 13,678
Endowment Funds - - - - -
Total Funds 1,545,965 444,975 (232,741) - 1,758,199

BUDE AND HOLSWORTHY METHODIST CIRCUIT DECLARATIONS

Treasurer

I confirm that I have prepared the accounts from the records of the Circuit and that they include all funds under the control of the Circuit Meeting

Signature of Treasurer Date 22-Mar-22 Name Roy M. Mackenzie, FCA Address 15 Elm Drive Bude Cornwall, EX23 8EZ

Presentation to the Circuit Meeting for approval.

I confirm that the Accounts will be presented to the Circuit Meeting on 1st June 2022

Signature of the Chair of the meeting Name of the Chair of the Rev Simon Leigh meeting Date 22-Mar-22 _______________

Independent Examiner's Report to the Trustees of the Bude and Holsworthy Methodist Circuit

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31[st] of August 2020 which are set out on pages 6 to 14.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants, which is one of the listed bodies in section 145 of the Act.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

…………………… ~~……………~~

D.N. Cox F.C.A

Flat1, 13 Ocean View Road, Bude EX23 8NN

Date 23/03/2022

BUDE AND HOLSWORTHY METHODIST CIRCUIT Appendix: CIRCUIT MEETING MEMBERSHIP

MINISTERS

Rev Simon H. Leigh - Superintendent Minister (from 01/09/2020) Rev Robert J. Blackhall - Acting Superintendent (to 31/08/2020) Rev Neal H. Street

Deacon Debbie Marsh

MINISTERS IN OTHER APPOINTMENTS

SUPERNUMERARY MINISTERS Rev Joy C. Wilson

LAYWORKERS

Mr Tim Stokes (to 14/06/2021)

CIRCUIT STEWARDS

Mr John Barrett (to 07/07/2021) Mrs Sue Brooks Mr Jonathan Hobbs Mr Roy Mackenzie (Treasurer) Mrs Cath Paddon Mr Mark Shepherd Mrs Christine Forster Mr Andrew Pitt (from 07/07/2021) Mrs Michelle Hogarth (from 07/07/2021)

CIRCUIT LOCAL PREACHERS AND WORSHIP LEADERS REPRESENTATIVES Mr Courtney Drew Mrs Muriel Hodges Mr Barry Bryne

CIRCUIT SAFEGUARDING CO-ORDINATORS

Mr Chris Smith (from 07/07/2021) Mrs Amy Knight (nee Marsh) (to 07/07/2021)

CIRCUIT CHURCH REPRESENTATIVES

Beacon Keith Cobbledick Donald Harris Bradworthy Elizabeth Robinson Clive Smale Bridgerule Sheila Cholwill Mark Shears Buckhorn Sandra Stacey (to 07/07/2021) Lorna Bowden (to 07/07/2021) Bude Andrew Pitt Carol Short Annette Cole

CIRCUIT CHURCH REPRESENTATIVES (Continued)

Chilsworthy David Heard (to Karen Shepherd Ruth Bealing (from Hartland Barbara Manley Kath Wrigley (to Barbara Manley (from Holsworthy Hilary Vivian Elizabeth Squire Kilkhampton Reg Hambley Mike Metherell Launcells Gill Cole (to 07/07/2021) Freda Hockin (to 07/07/2021)

Marhamchurch Elizabeth Bray Mary Bromell Morwenstow Valerie Tape Jenny Vanstone Poughill Poundstock Stratton

Claire Blewett (to 14/09/2020) Christine Stalley (to 14/09/2020)

Joyce Lee (to 30/09/2019) Jennifer Spettigue (to 30/09/2019)

Keith Kennard (to 07/07/2021) Valerie Hopper (to 07/07/2021)

David Risdon (to 07/07/2021) James Daw (to 07/07/2021)

North Tamerton Whitstone

John Mill (to 07/07/2021) Mervyn Uglow Godfrey Cole (from 07/07/2021)

Woodford Rose Heard Nicola Hobbs Woolsery David Bannister (to 07/01/2022) Derek Lott