## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Statement of Financial Activiti|es
(|SOFA) for|the|year|ended 31Au|gust 2022||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||Oi||o|||||||| ||||||||||SI|||| ||||O|III|||||E|||| ||||IIIsiI
O
Z|0
II
u
IU|c c|V|III
SI|IIIo
c|Ill|III
'D|Total
2021 - 2022|Total
2020-21| |Donations
and legacies|||||||10,000||||10,000|1,651| |Charitable
activities||||||||||||| |Assessments
to churches|||||420,820||||||420,820|414,632| |Other|||||300||||||300|| |Other trading activities||||||||||||| |Lettings||||||||||||| |- Hub Cafe||||||||||||| |Investments|||||21,853||||||21,862|16,747| |Other - CPF levy refund||||||||||||| |Other - Profit on sale of property||||||||||||| |Total|||||442,973||10,009||||452,982|433,030| |Expenditure
on:||||||||||||| |Stipends,
NIC &Pension costs||||12|236,867||10,000||||246,867|209,711| |Lay salaries,
NIC &.Pension costs||||12|21,598||||||21,598|16,843| |District Assessment|||||12,820||||||12,820|14,872| |Methodist
Church
Fund|||||64,942||||||64,942|64,078| |Telephone
&travel|||||13,404||||||13,404|13,287| |Insurance,
utilities, etc|||||24,744||||||24,744|26,284| |Maintenance
on manses|||||34,815||||||34,815|24,605| |Expenditure
on other Circuit property|||||6,291||||||6,291|5,466| |Depreciation||||||||||||| |Provisions||||||||||||| |Other Expenditure|||||9,853||||||9,853|13,551| |Grants and
Donations||||13|14,739||||||14,739|7,686| |Hub Cafe|||||194||||||194|219| |Contributions
to District Advance||Fund||||||||||| |Total|||||440,267||10,000||||450,267|396,602| |Net income/(expenditure)|||||2,706||||||2I715|36,428| |Transfers between
funds|||||3,399|(3,399)||||||| ||||||6,105|(3,399)|||||2,715|36,428| |Other recognised
gains / (losses)||||||||||||| |Gains
(Losses) on revaluation|offixed|||||||||||| |Gains/(Losses)
on investment|assets|||||(1,554)|||||(1,554)|3,836| |Actuarial
gains /(losses) on defined benefit||||||||||||| |pension schemes||||||||||||| |Net movement
in funds|||||6,105|(4,953)|||||1,161|40,264| |Reconciliation offunds:||||||||||||| |Total funds brought forward|||||2,467,840|104,084||2,104|||2,574,028|2,533,764| |Total funds carried forward|||||2,473,945|99,131||2,113|||2,575,189|2,574,028| ## |||||Unrestricted|Circuit Model|Restricted|Endowment|Total|Total| |---|---|---|---|---|---|---|---|---|---| ||||||Trust Fund||Funds|2021-2022|2020-2021| ||||||(Unrestricted)||||| ||||||E||||| |Tangible
Fixed Assets|||||||||| ||||Notes||||||| |Land 8 Buildings|||14|1,890,657||||1,890,657|1,890,657| |Equipment
Investment
properties|||14|350,190||||350,190|350190| |Investments|||15||23,183|||23,183|24,737| ||Totalfixed assets|||2,240,847|23,183|||2,264,030|2,265,584| |Current Assets|||||||||| |Debtors and Prepayments|||16|23,476||||23,476|21,985| |Loans by the Circuit|||17||68,740|||68,740|71,876| |Trustees for Methodist||Church|||||||| |Purposes deposits|||||7,208|||7,208|7,471| |Central Finance Board Deposits||||255,664||2,113||257,777|252,004| |Cash at Bank and in|hand|||24,904||||24,904|14,070| |Total current essets||||304,044|75,948|2,113||382,105|367,406| |Creditors and Accruals (due In under|||||||||| |1yr)|||18|70,946||||70,946|58,962| |Net current assets (liablgties)||||233,098|75,948|2,113||311,159|308,444| |Total assets less current liabilities||||2,473,945|99,131|2,113||2,575 189|2 574,028| |Loans and creditors|due after 1year||||||||| |Provisions for liabilities and charges|||||||||| |||Net assets||2,473,945|99,131|2,113||2,575,189|2,574,028| |Funds ofthe Circuit|||||||||| |Unrestricted
funds|||19|2,473,945||||2,473,945|2,467,840| |Circuit Model Trust|Fund||||||||| |(Unrestricted)|||19||99,131|||99,131|104,084| |Restricted funds|||19|||2,113||2,113|2,104| |Endowment
funds|||||||||| |||Total Funds||2,473,945|99,131|2,113||2,575,189|2,574,028| ## ||Basis ofaccounting|||||| |---|---|---|---|---|---|---| ||Ihe financial
statements
have been prepared
under the Charities Act 2011in accordance with the 2013version ofAccounting|||||and| ||Reporting
by Chanties: Statement of Recommended
Practice (SORP) applicable to charities|preparing
their accounts||in accordance||| ||with FRS102-the Charities
SORP (FRS102)and taking note ofthe Update
Bulletin
2 issued
in 2018.|||||| ||Funds|||||| ||The funds held constitute: General Funds held for any purpose ofthe Greeit which are Unrestncted.
The Circuit Model Trust||||Fund has|| ||wide purposes
defined
in Standing
Orders and is categorised
as unrestricted.
Restricted
funds|which are held for a narrower|||purpose .|| ||There are no Endowment
funds. Details ofeach material
fund are disclosed
in the note 19to these accounts.||Any fund|may|be|| ||represented
by more than just cash.|||||| |3|Accounting
pogcles|||||| ||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 and manses
and investment
properties
are held at their value at 31August 2018.The|accruals basis|has been|used to show a||| ||true and fair view of the Circuit's financial
position and activities.|||||| ||Income Recognltlon|||||| ||Income is Induded
in the Statement of Financial Activities
(SOFA) when the Greeit becomes entitled to the resources,|||and the trustees||| ||are reasonably
certain they will receive the resources; and the monetary
value can be measured
with sufficient regabigty.|||||| ||Resources Expended|||||| ||This is recognised
when a liability
is incurred,
or a constructive
obligation
arises, that results
in|the payment|being unavoidable.|||| ||Liabilities are recognised
as soon as an outflow ofeconomic benefit
is considered
more likely than not under||the legal|or constructwe||| ||obligation
committing
the Circuit to pay out resources.|||||| ||Grants|||||| ||Grants made by the Circuit from its own funds are recognised
in full at the time ofagreement|or when the Circuit accepts that there is a||||| ||legal or operational
obligatron to make the payment.|||||| ||VAT|||||| ||Since the Circuit is not VAT registered,
ag input
VAT is charged
with the expenses to which it refers.|||||| ||Tangible Ared assets for use by the Grcuh|||||| ||Tangible fixed assets are capitagsed
ifthey can be used for more than one year, and individually|cost at least|ESDD.|||| ||The freehold properties
are shown
In the accounts at the 31August 2018market value, of which the land component|||is deemed||to be| ||F224,083. No depreciation
is provided
on the buildings
because the trustees consider the current residual fair value of the manse|||||| ||buildings
(on the assumption
that it had not reached the end of its useful economic life 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.|||||| ||Investment
Properties|||||| ||Investment
properties
- no property
is currently
deemed to not be held for the long term purposes ofthe charity.
Investment||||property|| ||is valued on the same basis as non Investment
properties.|||||| ||fnvestments|||||| ||Investments
are valued
in the balance sheet at market value at the year end. Investment
income is included||in the accounts||when|| ||receivable
and any gains or losses on revaluation
at the year end are shown
in the SOFJL|||||| ||Connexional
Property
Fund levies|||||| ||The levy taken by the Methodist
Connection
on the sate of property
is accounted for as an expense on the basis that the return ofthis|||||| ||levy to the Circuit is conditional
on making an eligible purchase
of property
within the required|time period and this can not|||be judged as|| ||significantly
likely Ifnot made
in the same financial year.|||||| |Staff CO5t5
Id dun|th||ar
er|e'|||||| |---|---|---|---|---|---|---|---|---|---| |||||||||20?2|1021| |Ministeria! Stipends||||||||Total|Total| |Sti
nds||||||||161JI23|153,647| |E
er'5 Natiom|I lnmranm||and|renttceshi||||18 85|15.657| |Pahslu
Cpctc||||||||46,759|40 407| |Total staff
o I||||||||246JI67|209,711| |||||||||20ZZ|2021| |I yemployeec||||||||Total|Total| |6m*
e5||||||||20,754|| |Cor
avlrtp lob Retehth||n 5|henw|recmpts|||||fe 563| |E
reps Natmml|Insurance||cmts|and|rent|emi|le|432|| |Pemlort co5ts||||||||1121|21| |Total staff arts||||||||21,598|16,943| |||||||1022|2021| |---|---|---|---|---|---|---|---| |||||||Total|Total| |Unive|uty ofLmcester clmplaincy||||||I,Z50| |arodt|Modal Tmm Pond||||||| |al hoP|St eet Methodist||Chu|ch||6,212|| |Cos|Methodist|Ch
rch||||1.834|| |Dadb|Methodist|Chtuch||||5,443|| |Uppingha
Rmd||Nmthodist||Chumh|||| |0|am Road|Methodist||Chu|h||5436| |||||||14,739||