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|Circuit|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|||
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||||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|
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|Assessments|paid by churches|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|
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||||||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||Equipment|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|
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|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|
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|||2023|2022|
|---|---|---|---|
|Balance||0||
|Manse Maintenance|Fund|||
|||2023|2022|
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||||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|
##
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||||||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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