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2021-08-31-accounts

THE METHODIST CHURCH

TRUSTEES' REPORT AND ACCOUNTS for the year ended 31 August 2021

BUDE AND HOLSWORTHY METHODIST CIRCUIT

Registered Charity - Registration number 1129530

Plymouth & Exeter District Plymouth & Exeter District District No / Circuit No 24/11
Ministers Rev Simon Leigh(Superintendent from 01/09/2020)
Rev Neal Street(to 31/08/2022)
Deacon Debbie Marsh
Circuit Stewards Mr John Barrett(to 07/07/2021)
Mrs Sue Brooks(to 01/03/2022)
Mrs Christine Forster
Mr Jonathan Hobbs
Mrs Cath Paddon(to 01/11/2022)
Mr Mark Shepherd
Mr Andrew Pitt(from 07/07/2021)
Mrs Michelle Hogarth(from 07/07/2021 to 01/11/2022)
Mrs Rosalind MaryWatson(from 01/09/2022)
Mrs Fiona Cleave(from 01/09/2022)
Mrs Elizabeth Robinson(from 01/09/2022)
Circuit Treasurer Mr RoyMackenzie,FCA

BUDE AND HOLSWORTHY METHODIST CIRCUIT TRUSTEES' REPORT AND ACCOUNTS for the year ended 31 August 2021

Page
Trustees' Annual Report 1 - 5
Statement of Financial Activities, Year ended 31st August 2021 6
Statement of Financial Activities, Year ended 31st August 2020 7
Balance Sheet as at 31st August 2021 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 2021

Introduction

The Trustees present their Annual Report and the Accounts for the year ended 31st August 2021.

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.

At the start of the year, the Circuit served 19 Methodist Churches, with memberships ranging from 6 to 121 members, and has a total membership of 472. One chapel had resolved to close, and this took effect in 2020/21. Following the pandemic lockdown, when churches were unable to meet, a further four chapels decided not to reopen, reducing the number at the end of August 2021 to 14, with a total membership of 382.

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

At the start of the year, the Circuit was delighted to welcome Rev Simon Leigh as full-time Superintendent Minister. We are very grateful for the significant input provided whilst we were without a Superintendent, by Rev Robert Blackhall, Superintendent Minister of the neighbouring Torridge Circuit, who made a significant contribution to our Circuit. Rev Neal Street and Deacon Debbie Marsh continued to make up the rest of our full-time ministerial team, together with three lay staff, Tim Stokes (who left in June 2021), 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 Simon Leigh 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, which was occupied by a minister without appointment. As a new Superintendent Minister was stationed in the Circuit, no rent was received from the manse at Chilsworthy during the year.

During the year, the closure of the Poughill Chapel was finalised, and, following the forced closure during the pandemic lockdown, the chapels at North Tamerton, Launcells, Stratton and Buckhorn decided not to reopen.

The sale of the redundant chapel at Flexbury Park was completed during the year. The chapels at Woodacott, Bangors (Poundstock), Poughill, North Tamerton, Launcells, Stratton and Buckhorn remained in the hands of the Circuit throughout the year. It was intended that Bangors (Poundstock) Chapel would be retained for use as an outreach and community resource, but this has proved to be impractical, and all these redundant chapels will be sold in due course.

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.

Whilst it is our view that, in normal conditions, the maintenance of the existing work of the Circuit should be funded from the assessment and other revenue, and that reserves and the sale proceeds of redundant chapels should be used for new outreach initiatives, we recognise that the reduced number of members and chapels following the pandemic cannot sustain the present level of expenditure, and are therefore willing to operate a deficit budget in the short term.

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.

Fund balances

The overall increase in fund balances over the year was £701,057.

The General Fund balance at 31st August 2021 was £2,291,122, but this includes the carrying value of manses and equipment of £1,264,982 and redundant chapels totalling £939,281.

The Model Trust Fund balance at 31st August 2021 was £97,224. The increase is attributable to the sale proceeds of the Flexbury Chapel site.

Designated Fund balances totalled £22,997, being monies set aside for repairs and other outgoings on manses, outreach work and removal costs on changes in stationing.

Restricted Funds totalled £58,193, mainly in respect of funds held for the maintenance of graveyards.

Endowment Funds totalled £7,952, being trust funds transferred from Woodacott and Bangors Chapels. We will be looking into the appropiate use of these funds.

Plans for 2021/22

The Circuit Staffing increased from 1st September 2020, with the stationing of Rev Simon Leigh as our full time Superintendent Minister. 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, and this will continue. Regular services resumed during 2020/21, and some new outreach initiatives have been developed, and there are encouraging signs of green shoots in a number of chapels.

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. The figure for consideration is the Net Current Assets, as the Fixed Assets are held for the long term activity 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 21st March 2024 and signed on behalf of the Meeting by

……………………………………… ………………………………

Rev Simon Leigh Roy M. Mackenzie, FCA Superintendent Minister Circuit Steward (Finance) Date 3rd January 2024

Name of Circuit: Bude and Holsworthy

Circuit No 24/11

Statement of Financial Activities (SOFA) for the year ended 31 August 2021

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
2020/21
£
£
£
£
£
£
12
205
217
52
229
20
40
24
365
12,645
12,645
192,766
192,766
734,698
32,136
766,834
8,000
150
8,150
829
829
948,173
229
20
33,360
24
981,806
4,420
100
4,520
152,255
152,255
18,058
20,847
520
39,425
313
313
5,074
70
14
5,159
11,578
2
11,580
250,117
950
25,267
620
16
276,970
62,839
880
63,719
196
196
( 3,974)
-3,974
694,082
( 526)
( 25,248)
32,740
8
701,057
( 89,333)
62,536
26,797
-
604,749
62,011
1,549
32,740
8
701,057
1,686,372
35,214
21,448
25,453
7,943
1,776,430
2,291,122
97,224
22,997
58,193
7,952
2,477,488

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 7,679
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 1,680,507 37,886 26,128 13,678 1,758,199
25 Total funds carried forward 1,686,372 35,213 21,448 25,452 7,943 1,776,428

Name of Circuit

Bude and Holsworthy Methodist Circuit

Circuit No 24/11

Balance Sheet as at 31 August 2021

Fixed Assets Notes to the
Accounts		 General Fund
(Unrestricted)
£		 Circuit Model
Trusts
(Unrestricted)
£		 Designated
Funds
(Unrestricted)
£		 Restricted
Funds
£		 Endowment
Funds
£		 Totals
2020/21
£		 Totals
2020/21
£		 Totals 2019/20
£
Circuit Manses & Equipment 1,264,982 1,264,982 1,264,844
Investmentproperties 939,281 939,281 346,798
Investments 1,261 1,261 1,064
Total fixed assets 2,204,263 1,261 0 0 0 2,205,523 1,612,706
Current Assets
Debtors 50,600 2,974 36,479 906 90,959 44,604
Loans bythe Circuit 10,476 10,476 8,476
Investments with TMCP 95,963 7,045 103,009 34,149
Investments with Methodist Chapel Aid 392 392 390
Central Finance Board Deposits 27,371 14,904 13,087 55,362 82,741
Cash at Bank and in hand 33,186 5,435 8,235 46,856 37,851
Total current assets 121,633 95,963 23,312 58,193 7,952 307,053 208,211
Current liabilities
Creditors (due in under 1 year) 34,774 315 35,089 44,489
Grantspayable within 2021/22 0 0
Total current liabilities 34,774 0 315 0 0 35,089 44,489
Net current assets/liabilities 86,859 95,963 22,997 58,193 7,952 271,965 163,722
Total assets less current liabilities 2,291,122 97,224 22,997 58,193 7,952 2,477,488 1,776,428
0
0
0
2,477,488
Long term liabilities
(due after more than oneyear)
Grantspayable after 2021/22 0 0
Loans to the Circuit 0 0
0 0
Net assets 2,291,122 97,224 22,997 58,193 7,952 2,477,488 1,776,428

Funds of the Circuit

General Fund(Unrestricted)- Sundry 1,026,678 97,224
22,997
58,193
7,952		 97,224
22,997
58,193
7,952		 97,224
22,997
58,193
7,952		 97,224
22,997
58,193
7,952		 1,026,678 421,928
- Invested in Manses 1,264,444 1,264,444 1,264,444
2,291,122 1,686,372
Circuit Model Trust Fund (Unrestricted) 97,224 97,224 35,213
Designated Funds(Unrestricted) 22,997 22,997 21,448
Total Unrestricted Funds 2,411,343 1,743,033
Restricted Funds 58,193 58,193 25,452
Endowment Funds 7,952 7,952 7,943
Total Funds 2,291,122 97,224 22,997 58,193 7,952 2,477,488 1,776,428

Signed

R.M.Mackenzie Circuit Treasurer

Date 3rd January 2024

Circuit No 24/11

Bude & Holsworthy Methodist CIrcuit

NOTES TO THE ACCOUNTS Year ended 31st August 2021

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 2021

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. Endowment funds have since been received from chapels which have been closed.

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 2021

Prepaid Stipends
Other Prepaid Expenses
Grant Reveivable
Arrears of Circuit Assessments
Balances awaiting Transfer from Closed Chapels
Sundry Debtors
Total		 31/08/2021 31/08/2020
9,303
£		 9,339
£
7,584
£		 7,208
£
-
£		 9,000
£
11,271
£		 6,793
£
62,802
£		 12,264
£
-
£		 -
£
90,959
£		 44,604
£

3. CREDITORS

Assessments Paid in Advance
Grant Approved for Chapel Repairs and Improvements
Other Creditors
Total		 31/08/2021 31/08/2020
32,462
£		 40,651
£
-
£		 -
£
2,626
£		 3,838
£
35,089
£		 44,489
£

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		 2020/21 2019/20
9,038
£		 10,586
£
7 11

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		 2020/21 2019/20
-
£		 -
£
-
£		 -
£

6. PAID EMPLOYEES.

Staff Costs during the year were as follows:

OYEES.
during the year were as follows:
Gross Pay (none paid over £60,000)
Superannuation Contributions
Employer's National Insurance
Apprenticeship Levy
Total		 2020/21 2019/20
119,404
£		 91,929
£
22,831
£		 15,735
£
9,423
£		 6,702
£
597
£		 476
£
152,255
£		 114,842
£

The average number of employees was 6 5

7. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

At the 31st August 2021 there are no capital commitments.

No Contingent liabilities were identified at 31st August 2021.

Circuit No. 24/11

Bude & Holsworthy Methodist Circuit

NOTES TO THE ACCOUNTS Year ended 31st August 2021

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 was sold during the year.

Woodacott Methodist Church, North Tamerton Methodist Church, Launcells Methodist Church, Stratton Methodist Church, Poughill Methodist Church and Buckhorn Methodist Church which will be marketed in due course.

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

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
- 709,281 - 450 709,731
-
- (116,798) (116,798)
-
Balance carried
forward		 - - 1,264,444 939,281 - 3,603 2,207,328
Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward		 Basis*
SL
SL
SL
 Rate
0%
0%
25%
2,753
2,753
312
312
0
0
0
0
0
0
0
0
3,065
3,065
-
-
1,264,444
346,798
-
400
1,611,642
-
-
1,264,444
939,281
-
538
2,204,263
Accumulated depreciation
Balance brought
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried
forward
Net book value
Brought forward
Carried forward
SL SL SL
0% 0% 25%
2,753 2,753
312 312
0
0
0
0 0 0 0 0 3,065 3,065
Brought forward - - 1,264,444 346,798 - 400 1,611,642
Carried forward - - 1,264,444 939,281 - 538 2,204,263

Circuit No. 24/11

Bude & Holsworthy Methodist Circuit

NOTES TO THE ACCOUNTS Year ended 31st August 2021

9 Investment assets

225 Units, CFB Managed Mixed Fund - Value

2020/21 2019/20
1,261
£		 1,064
£

10 Analysis of Funds

Year ended 31st August 2021:

Fund Name Opening
Balance		 Incoming
Resources		 Resources
Expended		 Transfers **Closing Balance ** Purpose of the
Fund
Unrestricted Funds:
General Fund 1,686,372 948,173 (254,090) (89,333) 2,291,122 For any
purpose of the
Circuit
Circuit Model Trust
Fund		 35,214 229 (755) 62,536 97,224
Total Unrestricted
Funds		 1,721,586 948,402 (254,845) (26,797) 2,388,346
Designated Funds:
Manses Fund 11,978 9 (20,847) 22,650 13,790 Manse
Repairs and
outgoings
Outreach Fund 7,480 9 (4,420) 4,000 7,069 Outreach
Removals Fund 1,137 2 1,000 2,139 Ministers'
Removals
Together Magazine Fund 853 - - (853) - Circuit
Magazine
Total Designated Funds 21,448 20 (25,267) 26,797 22,997
Total Unrestricted and
Designated Funds		 1,743,034 948,422 (280,112) - 2,411,343
Restricted Funds:
Benevolent Fund 1,254 2 - 1,256 Benevolent
Grants
Graveyard Funds:
Titson 5,673 118 5,791 Graveyard
Mainten'ce
Lana 6,794 159 (520) 6,433
Woodacott 3,592 200 3,792
Bangors 8,046 240 8,286
Ashwater - 18,983 18,983
Launcelles - 13,653 13,653
'Encounter' 95 5 (100) - Charitable
Fund
Total Restricted Funds 25,453 33,360 (620) - 58,193
In accordance
with the terms
of the
endowment
Endowment Funds 7,943 24 (16) - 7,952
Total Funds 1,776,430 981,806 (280,748) - 2,477,488

Circuit No. 24/11

Bude & Holsworthy Methodist Circuit

NOTES TO THE ACCOUNTS Year ended 31st August 2021

Comparative Figures for Year ended 31st August 2020:

Fund Name Opening
Balance		 Incoming
Resources		 Resources
Expended		 Transfers **Closing Balance ** Purpose of the
Fund
Unrestricted Funds:
General Fund 1,680,507 246,798 (202,732) (38,201) 1,686,372 For any
purpose of the
Circuit
Circuit Model Trust
Fund		 37,886 325 (2,998) - 35,213
Designated Funds:
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

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 03-Jan-24 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 21st March 2024

Signature of the Chair of the meeting Name of the Chair of the Rev Simon Leigh meeting Date 03-Jan-24 _______________

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 31st August 2021 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

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or the accounts do not accord with those records; or

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 FCA Metherell Gard House Burn View Bude EX23 8BX

Date 3rd January 2024

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 (to 31/08/2022)
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 (to 01/03/2022)
Mr Jonathan Hobbs
Mr Roy Mackenzie (Treasurer)
Mrs Cath Paddon (to 01/11/2022)
Mr Mark Shepherd
Mrs Christine Forster
Mr Andrew Pitt (from 07/07/2021)
Mrs Michelle Hogarth (from 07/07/2021 to 01/11/2022)
Mrs Rosalind Mary Watson (from 01/09/2022)
Mrs Fiona Cleave (from 01/09/2022)
CIRCUIT LOCAL PREACHERS AND WORSHIP LEADERS REPRESENTATIVES
Mr Courtney Drew
Mrs Muriel Hodges
Mr Barry Bryne
CIRCUIT OFFICERS
Mr Chris Smith (from 07/07/2021)
Sandra Shepherd
CIRCUIT CHURCH REPRESENTATIVES
Beacon
Keith Cobbledick (to 01/11/2022)
Donald Harris (to 01/11/2022)
Bradworthy
Elizabeth Robinson (to 31/08/2022)
Clive Smale
Bridgerule
Sheila Cholwill
Mark Shears
Buckhorn
Sandra Stacey (to 07/07/2021)
Lorna Bowden (to 07/07/2021)
Mrs Elizabeth Robinson (from 01/09/2022)		 CIRCUIT CHURCH REPRESENTATIVES (Continued)
Bude
Andrew Pitt (to 07/07/2021)
Carol Short (to 13/03/2023)
Annette Cole
Jane Bailey (from 15/06/2023)
Stephen George Jose (from 13/03/2023)
Chilsworthy
David Heard (to 01/03/2022)
Karen Shepherd
Ruth Bealing (from 01/03/2022 to 16/08/2023)
Hartland
Barbara Manley (to 07/07/2021)
Elaine Peak (to 07/07/2021)
Holsworthy
Hilary Vivian
Elizabeth Squire (to 21/06/2023)
Catherine Paddon (from 21/06/2023
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 (to 23/03/2023)
Jenny Vanstone
Charles (John) Cleave (from 23/03/2023)
Poughill
Claire Blewett (to 14/09/2020)
Christine Stalley (to 14/09/2020)
Stratton
Keith Kennard (to 07/07/2021)
North Tamerton
David Risdon (to 07/07/2021)
James Daw (to 07/07/2021)
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