2023-08-31-accounts - Barking Dagenham & Ilford Methodist Circuit

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Ministers	and Officers	and Officers	and Officers
Active	Circuit		Ministers:	Revd Bernardino M Mandlate
				Revd Kido Back
				Revd Mmasape Zihle
				Deacon Andy Packer
Circuit	Lay Worker:			Mrs Caroline Dawson
Circuit	Stewards:			Miss Lesley Bentall (Senior)
				Mrs Lorna Brown
				Mrs Foluso Famoyin	Egbo
				Mr Philip Korsah
				Mrs Sarah Ocran
Treasurer:				Mr Desmond John
Administrator:				Mrs Jackie Saito
Independent			Examiner:	Wettone Matthews,	Market House,
				21 Lenten Street, ALTON			GU34 1HG
Investment		Bankers:		Central Finance Board		ofthe Methodist		Church
				Trustees for Methodist		Church Purposes

			Notes to			Circuit	Model
			the	General	Fund	Trust		Restricted	Total	Total
			accounts	(Unrestricted)		(Unrestricted)		Funds	2022-2023	2021-2022
				E		r		E	E	E
Income
I Donations and legacies					2,166				2,166
2 Income from monetary investments					704		4,838		5,542	690
3 Income from investment	properties
4 Assessments on Churches				274,903					274,903	281,441
5 Capital Receipts
6 Grants received								9,500	9,500	10,000
7 Other charitable income					1,149				1,149	2,289
8Total income				278,922			4,838	9,500	293,260	294,420
Expenditure
9 Grants and donations
10Salaries and associated	costs		3	192,794				9,500	202,294	192,455
11 Property maintenance			4		49,669				49,669	40,656
12Connexional assessment	&	model trust	levy		52,748				52,748	47,756
13District Assessment & Levy							3,982		3,982	4,180
14Depreciation
15Office expenses			5		3,034		370		3,404	3,879
16Other outgoings			6		1,821				1,821	2,987
17Total charitable expenditure					300,066		4,352	9,500	313,918	291,914
18Gains/(losses) on monetary		investments
19Gains/(losses) on investment		properties
20 Net income/(expenditure)					(21,144)		486		(20,658)	2,506
21 Transfers between funds
22 Other gains/(losses)			861	277,718					277,718	144,083
23 Net movement in funds					256,574		486		257,060	146,589
24 Total funds brought forward				1,632,460		129,647			1,762,107	1,615,518
25Total funds carried forward				1,889,034		130,133			2,019,167	1,762,107

			General Fund	Circuit Model	Restricted	Totals 2023	Totals 2022
			(Unrestricted)	Trusts	Funds
		Notes to the		(Unrestricted)
		Accounts		2
Fixed Assets
Circuit Manses & Equipment		BS1	1,820,560			1,820,560	1,542,842
Investment properties
Investments
Total fixed assels			1,820,560			1,820,560	1,542,842
Current Assets
Debtors			6,996			6,996	22,988
Loans by the Circuit
Investments with TMCP		BS2	130,133			130,133	129,647
Central Finance Board Deposits		BS3	22,955			22,955	23,703
Cash at Bank and in hand		BS3	40,145			40,145	44,385
Total current assets			200,229			200,229	220,723
Current liabilities
Creditors (due in under 1 year)			1,622			1,622	1,458
Grants payable within 2021-22
Total cunent liabilities			1,622			1,622	1,458
Hei current assetslliabllilies			198,607			198,607	219,265
Total assets less current liabilities			2,019,167			2,019,167	1,762,107
Long term liabilities
(due after more than one year)
Grants payable aher 2022-23
Loans to the Circuit
Net assets			2,019,167			2,019,167	1,762,107
Funds otthe Circuit
General Fund (Unrestricted)		BS5.1	1,889,034			1,889,034	1,632,460
Circuit Model Trust Fund (Unrestricted)		BS5.2			130,133	130,133	129,647
Designated Funds (Unrestricted)		BS5.3
Total Unrestricted	Funds		1,889,034		130,133	2,019,167	1,762,107
Restricted Funds
Endowment Funds
Total Funds			1,889,034		130,133	2,019,167	1,762,107

Assessments	2022/23	2021/22
Barking	49,065	46,728
Barkingside	33,384	31,794
Beacontree Heath	23,148	22,045
Gantshill	27,601	26,287
Goodmayes	30,405	28,957
Grange Hill	6,473	6,165
llford	32,257	30,721
Old Dagenham	12,000	9,000
Seven Kings	28,326	26,977
The Drive	35,369	33,685

Stipends/Salaries were paid	to 4 full time	Presbyters,	Presbyters,	as well	as 2 part-time	as 2 part-time	as 2 part-time	as 2 part-time
Lay staff who were involved	in Circuit administration			and the Religious			Education			Resources Project
(RERP) operating in local Schools. No employees			received employee			benefits of				more than E60,000.
There is no accrual for holiday pay as it is immaterial.				The holiday year ends on 31st August.
All staff are paid at or above	the London	Living Wage. Presbyters are					members ofthe
Methodist Ministers Pension	Scheme (MMPS).		This is a definedbenefit					scheme.		Lay employees			are
«ontractual employees and	have the option ofjoining a pension scheme							which the Circuit has				arranged			with
The Pensions Trust. This is a	defined benefit scheme			to which the Circuit contributes as employer.
The Connexion accounts for	both pension	schemes and shows the figures							in the	annual	Methodist		Church
in Great Britain accounts. Restricted funds represent				agrant	from the		London District Advance					Fund		towards
the salary costs ofthe RERP.	Stipend and	salary	figures shown below				are gross and include ag					associated
payroll costs:
							2023								2022
Ministers Stipends									147,565							141,376
(Salaries E108,707; ERNI E10,345;Pension Contbns.
E28,513)
Lay Salaries									40,731							38,6D1
(Salaries E36,064; ERNI E2,503 and Pension Contbns.
E2,164)
Payroll Admin Costs						214								192
less RERP Contribution
less llford, Barking, M C contribution
										214						192
Pensions Trust (Lay Workers)							65								70
less RERP Contribution
less Rford M CContribution
										65
Apprenticeship Levy						724								707
less llford, Barking, M Ccontribution
less RERP contribution
										724						707
Ministers Travel										5,462						5,121
Ministers Printing, Postages	&Stationery									913						910
Ministers Telephone &Broadband					4,503								3,804
less Private Lfse										4,503					0	3,804
Ministers Support &Training										2,117						1,674
Relocation Allowance & Removal Expenses
TOTAL STIPENDS, SALARIES &ASSOCIATED COSTS									2~02 294							~292455

					2023	2023			2022
MANSE PROPERTY COSTS
Quinquennial &Testing Reports								1,375		3,885
Insurance								4,495		3,821
Manses Cncl. Tax, Water Rates, Genl	Mntce.						26,306			14,616
Manse Repairs & Renewals
19Betheg Avenue				12,000					2,396
7 Hastings Avenue									1,672
46 Lyndhurst Gardens									6,950
27Shafter Avenue									3,316
							12,000			14,334
OTHER PROPERTY COSTS
The Circuit hires a room under annual	Licence	from	Beacontree	Heath Methodist				Church for
use as an administrative office. Licence is renewable			annually	on 1stSeptember				with a rental
of64,000per annum for 2022/23.
Circuit Office rent								5493		4 000
TOTAL PROPERTY EXPENSES							49 669			40656
OFFICE EXPENSES AND ADMINISTRATION
These costs are for operating the Circuit Office and include printing,					postages,		stationery,
telephone and broadband expenses	and also include		the administration			charge		made	by the Trustees
for Methodist Church Purposes for maintaining		our	Circuit Model Trust Fund account.						Main costs were:
					2023				2022
Postages and Stationery					795				1,314
Telephone and Broadband					1,030				1,106
Sundries					1,209				1,078
TMCP Administration charge					370				381
Total								3,404		3,879

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1.1Cost or Valuation	1.1Cost or Valuation		Buildings		Total
			E
Cost/valuation	brought	forward	1,542,842		1,542,842
Gains on Manse	Properties		277,718		277,718
less accumulated depreciation				0		0
Net Book Value	carried	forward	1820	560	1820	560

19Bethel	Avenue llford	638,726
7 Hastings	Avenue llford	362,713
46 Lyndhurst Gardens Barking		508,275
27 Shafter	Road Dagenham	310,846
Total Value		~2820 560

ANALYSIS OF INVESTMENT MOVEMENTS	ANALYSIS OF INVESTMENT MOVEMENTS	ANALYSIS OF INVESTMENT MOVEMENTS
Trustees for Methodist Church Purposes deposits							2023	2022
							130133	129647
CHANGES IN INVESTMENT VALUES
Carrying (market)	value at beginning ofyear						129,647	133,600
less Net transfers	and charges						486	-3953
Carrying (market)	value at end ofyear						130133	129647
CENTRAL FINANCE BOARD (CFB)and BANK		BALANCES
Monetary balances held at the CFBofthe Methodist			Church	and	at HSBCbank		are all available
on demand without loss ofinterest. CFBinterest is			credited	to principal		each	month. The split
ofthese balances	across General, Designated	and Restricted		Funds is arbitrary			but wherever
possible balances	are not shown as negative.
Balances held at	31August 2023
			General			Total Designated
Central Finance	Board				22,955		0	22,955
HSBC Bank					40,145			40,145
Totals					63100		0	63 100

		2023	2022
Balance		0
Manse Maintenance	Fund
		2023	2022

			Notes to			Circuit Model
			the	General	Fund	Trust	Restricted	Total	Total
			accounts	(Unrestricted)		(Unrestricted)	Funds	2021-22	2020-21
				E		E	E		E
Income
I Donations and legacies
2 Income from monetary investments					82	608		690	514
3 Income from investment	properties
4 Assessments on Churches					281,441			281,441	302,987
5 Capital Receipts
6 Grants received							10,000	10,000	9,000
7 Other charitable income					2,289			2,289	2,232
8Total Income					283,812	608	10,000	294,420	314,733
Expenditure
9 Grants and donations									13,815
10Salanes and associated	costs		3		182,995		9,460	192,455	187,287
11 Property maintenance			4		40,656			40,656	49,702
12Connexional assessment	& model trust		levy		47.756			47,756	47,'756
13District Assessment & Levy						4,180		4,180	5,550
14 Depreciation
15Office expenses			5		3,498	381		3,879	3,631
16Other outgoings			6		2,447		540	2,987	1,471
17Total charitable expenditure					277,353	4,561	10,000	291914	309212
18Gains/(losses) on monetary		investments
19Gains/(losses) on investment		properties
20 Net income/(expenditure)					6,459	(3,953)		2,506	5,521
21 Transfers between funds						0
22 Other gains/(losses)			SS1		144,083			144,083	71,680
23 Net movement in funds					150,542	3,953)		146,589	77,201
24Total funds brought forward				1,481,918		133,600		1,615,518	1,538,317
25Total funds carried forward				1,632,460		129,647		1,762,107	1,615,518

					General Fund	Circuit Model	Restricted	Totals 2022	Totals 2021
					(Unrestricted)	Trusts	Funds
				Notes to the		(Unrestricted)
				Accounts		6
Fixed Assets
Circuit Manses & Equipment				BS1	1,542,842			1,542,842	1,398,759
Investment properties
Investments
	Total	fixed assets			1,542,842			1,542,842	1,398,759
Current Assets
Debtors					22,988			22,988	6,106
Loans by the Circuit
Investments with TMCP				BS2	129,647			129,647	133,600
Central Finance Board	Deposits			BS3	23,703			23,703	29,602
Cash at Bank and in hand				BS3	44,385			44,385	49,273
Total current assets					220,723			220,723	218,581
Current liabilities
Creditors (due in under	1 year)				1,458			1,458	1,822
Grants payable within	2021-22
Total	current liabilities				1,458			1,458	1,822
Net current	assetslliabili ties				219,265			219,265	216,759
Total assets less	current liabilities				1,762,107			1,762,107	1,615,518
Long term liabilities
(due after more than one year)
Grants payable atter 2018-19
Loans to the Circuit
		Net assets			1,762,107			1,762,107	1,615,518
Funds ofthe Circuit
General Fund (Unrestricted)				BS5.1	1,632,460			1,632,460	1,481,918
Circuit Model Trust Fund (Unrestricted)				BS5.2		129,647		129,647	133,600
Designated Funds (Unrestricted)				BS5.3
Total Unrestricted			Funds		1,632,460	129,647		1,762,107	1,615,518
Restricted Funds
Endowment Funds
		Total Funds			1,632,460	129,647		1,762,107	1,615,518

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