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|||||IV
o||o
'5|ti|'o||o
III
E||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||II
SI
0
Z|0
v
u
Ill|o o|o
ci D|8
IL'|'o
o
g|4m
o
L
IU||Total
2020 - 2021|Total
2019 - 20|
|Income and Endowments|from:|||||||||||||
|Donations
and legacies||||||||1,651||||1,651|9,682|
|Charitable
activities||||||||||||||
|Assessments
to churches|||||4|414,632||||||414,632|434,558|
|Other|||||||||||||256|
|Other trading activities||||||||||||||
|- Lettings||||||||||||||
|- Hub Cafd|||||||||||||12,216|
|Investments||||||16,334|410|||||16,747|24,431|
|Other - CPF levy refund|||||||||||||93,685|
|Other - Profit on sale ofproperty||||||||||||||
|Total||||||430,966|410|1,654||||433,030|574,828|
|Expenditure
on:||||||||||||||
|Stipends,
NIC &Pension costs|||||12|209,711||||||209,711|240,194|
|Lay salaries,
NIC 8 Pension|costs||||12|16,843||||||16,843|23,908|
|District Assessment||||||14,872||||||14,872|14,328|
|Methodist
Church
Fund||||||63,360|718|||||64,078|62,742|
|Telephone
&travel||||||13,287||||||13,287|16,976|
|insurance,
utilities, etc||||||26,284||||||26,284|21,866|
|Maintenance
on manses||||||24,605||||||24,605|12,705|
|Ex enditure
on other Circuit pro|||erty|||5,466||||||5,466|7,570|
|Depreciation||||||||||||||
|Provisions|||||||||||||15,000|
|Other Expenditure||||||12,551||1,000||||13,551|19,346|
|Grants and
Donations|||||13|1,250|1,000|5,436||||7,686|9,752|
|Hub Cafd||||||219||||||219|12,227|
|Contributions
to District Advance|||Fund||||||||||12,327|
|Total||||||388,448|1,718|6,436||||396,602|468,941|
|Net Income/(expenditure)||||||42,518|(1,308)|(4,782)||||36,428|105,887|
|Transfers between
funds||||||13,738|(13,738)|||||||
|||||||56,256|(15,046)|(4,782)||||36,428|105,887|
|Other recognised
gains / (losses):||||||||||||||
|Gains
Losses
on reva uation||o|xe|||||||||||
|Gains/(Losses)
on investment||assets|||||3,836|||||3,836|(375)|
|Actuarial
gains /(losses) on|defined||benefit|||||||||||
|pension schemes||||||||||||||
|Net movement
in funds||||||56,256|(11,210)|(4,782)||||40,264|105,512|
|Reconciliation
offunds:||||||||||||||
|Total funds brought
forward||||||2,411,584|115,294|6,886||||2,533,764|2,428,252|
|Total funds carried forward||||||2,467,840|104,084|2,104||||2474,028|2,533,764|
|||||Unrestricted|Circuit Model|Restricted|Endowment|Total|Tntal|
|---|---|---|---|---|---|---|---|---|---|
||||||Trust Fund||Funds|2020-2021|2019-2020|
||||||(Unrestricted)|||||
||||||6|||||
|Tangible Fixed Assets||||||||||
||||Notes|||||||
|Land &Buildings|||14|1,890,657||||1,890,657|1,890,657|
|Ertuipment||||||||||
|Investment
properties
investments|||14
15|350,190|24,737|||350,190
24,737|35D,190
20,901|
||Totol7)xed assets|||2,240,847|24,737|||2,265,584|2,261,748|
|Current Assets||||||||||
|Debtors and Prepayments||||21,985||||21,985|18,532|
|Loans by the Grcult|||17||71,876|||71,876|86,555|
|Trustees for Methodist||Church||||||||
|Purposes deposits|||||7,471|||7,471|7,838|
|Central Finance Board Deposits||||249,900||2,104||252,004|196,069|
|Cash at Bank and in hand||||14,070||||14,070|17,161|
|Torol current assets||||285,955|79,347|2,104||367,406|326,155|
|Creditors and Accruals (due in under||||||||||
|1yr)|||18|58,962||||58,962|54,139|
|Net current assets (gabgitles)||||226,993|79,347|2,104||308,444|272,016|
|Total assets less current Noblllties||||2,467,840|1D4,D84|2,104||2,574,028|2,533,764|
|Loans and creditors|due after 1year|||||||||
|Provisions for Babigties and charges||||||||||
|||Net assets||2,467,840|104,084|2,104||2,574,028|2,533,764|
|Funds ofthe Circuit||||||||||
|Unrestricted
funds|||19|2,467,840||||2,467,840|2,411,584|
|Circuit Model Trust|Fund|||||||||
|(Unrestrictedl|||19|||||104,084|115,294|
|Restricted funds|||19|||2,104||2,104|6,886|
|Endowment
funds||||||||||
|||TotolFunds||2,467,840|104,084|2,104||2,574,028|2,533,764|
|s to|the Ac«or«its||||||||
|---|---|---|---|---|---|---|---|---|
|1|Balls ofaccounting||||||||
||The financial
statements
have been prepared
under the Char itws Act 2011in accordance with the 2019version of Accounting||||||and||
||Reporting
by charitws
statement
of Recommended
practke (soRp) applicable to charities|preparing
their ac«ounts
in accordance|||||||
||wnh FR3102-the charities sORp (FRS102)and taking note ofthe Update Bugetln
2 issued in 2018.||||||||
|2|Funds||||||||
||The funds held constitute: General
Funds held for any purpose ofthe Circurt which are Unrestricted.
The Circuit Model Trust||||Fund has||||
||wide purposes degned
in Standing
Orders and is categorised
as unrestricted.
Restncted
funds|which are held for a narrower|||purpose||||
||There are no Endowment
funds. Oetags ofeach material
fund are disdosed
in the note 19to these accounts.
Any fund may||||be||||
||represented
by more than just cash.||||||||
|3|Accounting
polkles||||||||
||Basis||||||||
||These accounts have been prepared
on the basis ofhtstorbat cost except that investments
are|shown at their market value||atthe|||end of||
||the year and mansm and investment
propertim
are held at their value at 31August 2018.The|accruals bas|s has been used|to show a|||||
||true and fair view o(the Circuit's financial
position and actlvltle».||||||||
||Income Recognltlon||||||||
||Income Isincluded
in the Statement of Financial Activities
(SOFA) when the Circuit becomes entitled to the||resources, and Ihe trustees||||||
||are reasonably
certain they wig receive the resources; and the monetary
value can be measured
with su(0«lent regabikty,||||||||
||Resourcm Expended||||||||
||This is recognised
when
a Babgity b incurred, or a constructive
obggation arises, that results
in|the payment|being unavoidable.|||Uabgides|||
||are recognised
a» soon as an outgow ofeconomic benefit
is considered
more Bkely than not under the legal orconstructive|||obligation|||||
||commxdng
the circuit to pay out resour«es.||||||||
||Grairts||||||||
||Grants made by the Circuit from its own funds are recognded
In full at the time ofagreement|orwhen the Cbcutt accepts that there ls a|||||||
||legal oroperational
oblmation to make the payment.||||||||
||VAT||||||||
||sin«e the Orcut is not vAT regutered,
ag input vAT b charged with the expenses to which it refers.||||||||
||Tangible fixed a»ets for use by the Eh«nit||||||||
||tangible lbed assets are capltalhed
if they can be used for more than one year, and indivlduagy|cost at least ES00.|||||||
||The freehold
properties are shown
in the a«counts at the 31August 2018market value, ofwhkh the land||component
is deemed||||to be||
||1224083. No depreciation
is provkled
on the bugdings
became the trustees consider the current residual||fair value ofthe marie||||||
||buildings
(on the assumption
that it had not reached the end of it» useful economk
Irfe by the|year end) to|be not less than|Its||current|||
||value. Any depreciation
would not be material.
The properties
have been reviewed
for impairment.||||||||
||Iiivestilient
Propertkis||||||||
||Investment
properties
- no property
is currently
deemed to not be held for the long term purposes ofthe «harlty.
Investment||||property|||is|
||valued on the same basis as non investment
properties.||||||||
||Investments||||||||
||Investments
are valued
in the balance sheet at market value at the year end. Investment
income is induded||in the ac«aunts||when||||
||receivable
and eny gains or losses on revaluatxm
at the year end are shown
in the SOFA.||||||||
||Connexlonal
Property Fund levies||||||||
||The levy taken by the Methodist
Connection
on the sale ofproperiy
is accounted
for as an expense on the basis that the return|||||ofthb|||
||levy tothe Or«uk
is conditional
an making an eligible purchme
ofproperty
within the required|time period|and this can not|be||judged as|||
||significantly
likely ifnot made
in the same flnandal year.||||||||
||||2011|1020|
|---|---|---|---|---|
||||Total|Total|
|Unlverdty|of Leicester Chapkfncy||1,250|1,250|
|Clrcull Model Trust Fund|||||
|Rothley Methodist
Church||||2.697|
|Upp ngham|Road Methodist|Church|||
|Restrkted|||||
|Rothley Methodut
Chwch||||359|
|U
n ham Road Methodist||Church|5,436|2,060|
|Ma
ower|Methodt5t
Church||||
||||7,666|9,752|
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