Circuit Accrual Accounts 2020-2021
THE METHODIST CHURCH
TEMPLATE REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31st August 2021
North Shields and Whitley Bay Circuit Registered Charity - Registration Number 1132438
District Number / Circuit Number - 20 / 05
Ministers
Rev David Wynd Rev Eva Walker Rev John Mason
Circuit Stewards Carol Baggaley Martin Shaw
Circuit Treasurer Colin Raistrick
North Shields & Whitley Bay Methodist Circuit TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31ST AUGUST 2021
Aims and Organisation
The Circuit resources the work of seven churches, Network and three different ways of being church (“fresh expressions”) in the geographical area covered by the North Shields and Whitley Bay Methodist Circuit. The Circuit is one of twelve circuits in the Newcastle upon Tyne District, which in turn is one of thirty districts in the Methodist Connexion.
When planning our activities for the year, the trustees have considered the Charity Commission’s guidelines on public benefit and, in particular, the specific guidance on charities for the advancement of religion. Our main activity, however, is to resource the constituent local churches in their local application of the general purpose of advancing religion.
In particular, we try to enable ordinary people to live out their faith as part of our community through the four core activities of “Our Calling” namely worship; learning and caring; service and evangelism.
The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:-
-
a) The Christian faith in accordance with the doctrinal standards and discipline of the Methodist Church;
-
b) Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church;
-
c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to the Methodist Church;
-
d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church
The organising and resourcing of regular public acts of worship open to members of the church and non members alike. The teaching of Christianity through sermons, courses and small groups. The resourcing of pastoral work including visiting the sick and bereaved. Taking religious assemblies in local schools. Promotion of Christianity through the staging of events and services. Provision of chaplaincy services to a range of local institutions.
Additional details:
The Trustees are committed to enabling as many people as possible to worship at our churches and in our organised activities. Thus we provide a varied menu of worship opportunities which are open to everyone, ranging across the spectrum of style from traditional liturgical/reflective to contemporary/celebratory and from all-age worship to children’s praise parties. We also encourage participation in ecumenical and circuit/district-wide worship opportunities. We are thus putting our faith into practice through the shared benefit of prayer, scriptural review, preaching, music and sacrament.
The Trustees are committed to enabling as many people as possible to become involved in the various activities of the constituent churches and fresh expressions of church which are community-enriching and character-forming, through personal development and/or community service and/or mission/outreach work.
The Trustees are committed to encouraging all the people with whom we come into contact in any way to participate in activities which might influence their faith-journey, thus creating better citizens and promoting wholeness in all levels of society/community.
The Trustees are committed to supporting the constituent churches as they maintain and manage and improve their premises of which they are managing trustees for use by the wider community.
We employ a part-time administrator; all other workers are voluntary except for three ministers, three lay employees (a Fresh Expressions Worker, a Community Worker with the Elderly and a primary school worker).
We are responsible for the care of ministers appointed to our circuit, both in the provision and maintenance of housing for them, in raising money to provide a stipend, and in providing support equivalent to that of an employer to employees.
Review of the year
The coronavirus pandemic resulted in the physical closure of churches from the 23rd March 2020. This action resulted in the Circuit investing resources to enable virtual meetings and greater input into physical resources for those who possessed no IT. Churches have lost a considerable amount of hire income and this may limit their ability
to pay the Circuit assessment. The Circuit Leadership Team along with the Circuit Resources Committee are assessing the situation on a month by month basis. At the present time the Charity continues to be viable.
The Circuit have invested in Zoom licences and technology resources to enable services to be broadcast over the internet. Our Circuit Service and daily prayer meetings were well received by people locally and around the world. Great efforts were made to keep those isolated connected and assisting with practical needs.
People not able to connect to online resources were posted printed support material and over time this extended to cds of services. The cds were also welcomed by our work in Care homes. Many thanks to all those who have enabled everyone to remain connected in these challenging times.
Our lay employee team normally engaged with hundreds of people in non-church settings. This included Messy Church activities, Praise Parties, Sunday at the pub and pastoral support. The Circuit made the decision to furlough our lay employee with schools and the employee returned to their role in September 2021. Other lay employees refocused their work using technology, telephone, cd and printed support.
Safeguarding training could not continue face to face, instead moving to an online version.
Our Circuit Stewards provided many hours of voluntary work in the essential administration of the Circuit.
Our Circuit Administrator worked tirelessly on minutes and publications that help in the communication of what we do; deciding to step down from the role in the last quarter of the year.
Our Presbyter Team, Supernumerary Ministers team, Local preachers and Worship Leaders enabled worship to continue by moving worship online. Mid week and seasonal initiatives meant that worship went beyond Sundays.
Post Covid-19 means we will not be going back to what was, but a new; spirit prompted, a way of doing, taking the best of what was, the best of what we have recently created and moving forward with a refreshed way of doing.
Structure, Governance and Management
The governing document of the Circuit is the Deed of Union (1932) and Methodist Church Act (1976). Detailed governance arrangements are outlined within the Constitutional Practice and Discipline (CPD) of the methodist Church by order of the annual conference. Day to day management of the circuit is undertaken by the Circuit Leadership Team (CLT) along with the Local Preachers meeting and the Circuit Resources Committee. Occasional task and finish groups are established which report back to the Circuit Meeting.
Trustee Training
A range of guidance is produced by the Methodist Connexion to support the effective running of the Circuit. The Regional Training Team provides specific support and specific roles are supported at meetings arranged by the Newcastle upon tyne Methodist District.
Related Parties
The Circuit is part of Newcastle upon Tyne Methodist District and is accountable to the Methodist Conference. The following Methodist Churches are linked to the Circuit. North Shields Methodist Church, Cullercoats Methodist Church, St John’s Methodist Church,
Monkseaton Methodist Church, Earsdon Methodist Church, Seaton Sluice Methodist Church. Fisherman’s Mission, Network. Coast Congregational Church meets at Fisherman’s Mission and are licenced with the Circuit to receive worship support.
Risk Management
The major risks have been identified and recorded by the Circuit Leadership Team with professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and Expenditure is being monitored in total and compared with the approved annual budget to avoid unforeseen calls on reserves.
Safeguarding
Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s recreation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.
Methodist Connexional practices outlines commitment to the following principles:
-
The care and nurture of, and respectful pastoral ministry with, all children, young people and adults
-
the safeguarding and protection of all children, young people and adults when they are vulnerable
-
the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse.
-
We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes.
-
We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the Police and local authority in any investigation.
-
We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care.
-
We will seek to challenge any abuse of power, especially by anyone in a position of trust.
-
We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended a child, young person or vulnerable adult.
-
In all these principles we will follow legislation, guidance and good practice.
The North Shields & Whitley Bay Methodist Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches. The North Shields & Whitley Bay Methodist Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.
During the year online Safeguarding training was delivered that reflects the revised training implemented by the Methodist Conference. A review of appointment roles within the Churches of the Circuit, reflected our good compliance with regular training and updates. A regular meeting of Church Safeguarding Officers was not held; instead information was shared electronically..
Reserves Policy
The Reserves Policy for the Circuit is to hold a minimum sum equivalent to 6 months
average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and / or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.
Finance and Governance Basis of account preparation and legal framework.
The Charity’s annual report and accounts for the year ended 31st August 2021 have been prepared in accordance with the Charities Act 2011.
Full name of Charity: North Shields and Whitley Bay Methodist Church Circuit. Registration Charity Number: 1132438 Date of Registration:4th November 2009
Registered address: Circuit Office, St John's Methodist Church, Ilfracombe Gardens, Whitley Bay. NE26 3ND
The members of the North Shields and Whitley Bay Methodist Circuit Meeting are the Charity Trustees, membership being made up of Circuit Officer holders, ministers and representatives appointed by local churches.
Circuit Ministers and Officers
| Active Circuit Ministers | Rev David Wynd * |
|---|---|
| Rev Eva Walker * | |
| Rev John Mason * | |
| Supported by an additional team of retired Ministers. | |
| Circuit Lay Workers | Claire Earl |
| John Morley * | |
| Rob Wylie | |
| Circuit Stewards | Carol Baggaley * (Senior Steward) |
| Martin Shaw * | |
| Circuit Treasurer | Colin Raistrick * |
| Circuit Local Preachers & Worship | Leaders Representatives |
| Margaret Stephenson | |
| John Bedigan | |
| Circuit Safeguarding Coordinator | Rev Linda Eccles |
| Administrator | Julie Esson |
Members
Alan Bainbridge, John Brown, Jan Boylan, Andrina Davison, Carol Davidson, Joan Davidson, Andrew Esson, Rev Tony Farrar, Sandra Fenwick, Margaret Gannie, Rev Enid Gordon, Roger Gordon, Bill Hastie, Rev Rob Hufton, Peter Hutton, Moya Jobson, Andrew Lowe, Brenda Purvis, Ian Lamont, Owen Lumsdon, Pat Maddison, Sue Mason, Marian Taws, Lesley Thompson, Graham Tipple, Catherine Walker, Pauline Wright, Rob Wylie.
- Denotes member of the Circuit Leadership Team (CLT)
Colin Raistrick acted as principal officer overseeing the day to day financial management and accounting for the Circuit during the year.
Independent Examiner Jeff Corrigan
Investment Bankers Central Finance Board of the Methodist Church (CFB) Trustees for Methodist Church Purposes (TMCP)
Year ended 31st August 2021 income trends
Circuit income is primarily drawn from the assessment paid by Circuit churches. At the Network project at Oxford Street talks are ongoing with Depaul UK on their lease arrangement and whilst much work happened during the year, additional work is needed to come to a satisfactory conclusion as we await decisions from the Trustees of Methodist Church Property. During the year, De Paul increased their income to £13,500 as the 5 year period on half lease came to an end. The rent of £8,446 from Western Way manse letting was used to reduce general expenses. An additional £16,434 of Circuit assessment funding was collected in the year which was missed in the previous year, as was an additional £10,000 from the District relating to a missed lay employee grant. We received £8,114 from HMRC Job Retention Scheme and £1,000 from North Tyneside Council to assist in Covid-19 additional expenses. During the year income was greater than expenditure. When the extra income from catch up funds missed the previous year and support funds for Covid-19 were stripped out, income was around £3,000 greater than expenditure.
Year ended 31st August 2021 expenditure trends
During the year our income was £311,843 we spent £264,138 in line with the budget. Stipend expenditure has increased each financial year in line with Conference approved increases. The Building Fund was used to provide hand sanitiser stations in circuit churches.
Fund balances
As at 31st August 2021 net cash assets of the Circuit were £155,393 (£118,299 previous year) giving approximately 7 months cover for expenditure.
Plans for 2021/2022
Circuit financial plans for the coming year have been prepared on the basis that there are 3 full time ordained staff with anticipated costs of living stipend increases combined with an increase in the assessment paid to the District. Local churches are requested to increase their assessment. Work continues to look at each element of spending to see where we can reduce costs and seek new sources of income, to reduce the pressure on stretched local church finances. Post Covid-19 we will relook at where we wish to be as a Circuit as we invest time in developing a new Strategic direction for the coming years.
Notes to the Accounts
1 Basis of accounting
The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS102 – the Charities SORP (FRS102) and taking note of the Update Bulletin 1 issued in 2016.
2 Funds
The funds held constitute: General Funds held for any purpose of the Circuit which are Unrestricted. 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 of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash.
3 Accounting policies
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, on the accruals basis to show a true and fair view of the Circuit’s financial position and activities.
Incoming Resources
Income is included in the Statement of Financial Activities (SOFA) when the Circuit 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 reliability.
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 of economic benefit is considered more likely than not under the legal or constructive 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 of agreement or when the Circuit accepts that there is a legal or operational obligation to make the payment.
VAT
Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.
Tangible fixed assets for use by the Circuit
Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £500. The freehold property is shown in the accounts at 2020 insurance values. The insurance value of the manses is £1,124,059. No depreciation is provided on the building because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had 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 property has been reviewed for impairment.. The valuation for Oxford Street is £3,185,247.
Investment Properties
Investment properties - no property is currently deemed to not be held for the long term purposes of the charity. Western Way manse and 41 Oxford Street are let for investment income.
Investments
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 SOFA.
Debtors and Prepayments
There were none.
Creditors
We have adjusted when we receive the 1st quarter assessment so it is received in September rather than late August.
4 Payment to Trustees
Meeting, this excludes stipends.
| 2020/21 | 2019/20 | |
|---|---|---|
| Number of Trustees | 38 | 38 |
| Total amount | £0 | £0 |
5 Fees for examination or audit of the accounts
| es for examination or audit of the accounts | ||
|---|---|---|
| 2020/2 | 2019/2 | |
| 1 | 0 | |
| £ | £ | |
| Independent examiner’s or auditors' fees for reporting on the | 0 | 0 |
| accounts | ||
| Other fees (eg: advice, accountancy services) paid to the | NIL | NIL |
| independent examiner or auditor |
6 Paid employees
Staff Costs paid during the year were:
| Staf Costs paid during the year were: | 2020/2 | 2019/2 |
| 1 | 0 | |
| Gross wages, salaries and benefts in kind | £ 124,106 |
128,159 |
| Employer’s National Insurance costs | £ 10,417 |
9,916 |
| Pension costs | £ 21,821 |
22,851 |
| Total staf costs | £ 156,344 |
160,926 |
| Average number of full-time equivalent employees | 7 | 7 |
| in the year were: |
7 Capital Commitments and Contingent Liabilities
As of 31st August 2021 there are no capital commitments. Although the Circuit is aware of a delay to Quinquennial Inspections which may result in a capital commitment. No Contingent liabilities were identified on 31st August 2021.
8 For information only Money received and passed on to External Organisations
| Balance brought forward from last year Oferings/Gifts - received for External Organisations Oferings/Gifts - passed to External Organisations Balance carried forward |
2020/2 1 |
2019/2 0 |
|
|---|---|---|---|
| £ | £ | ||
| 262 | |||
| 262 | |||
| 0 | 0 |
9 Tangible Fixed Assets Cost or valuation
----- Start of picture text -----
Land Manses Other Fixtures, Payments Total
buildings fittings on
Network and account
Oxford and
equipme
Street assets
nt
under
constructi
on
£ £ £ £ £ £
Balance brought 0 1,070,544 3,077,533 73,189 4,221,266
forward
Additions 0 0
Revaluations (+/-) 53,515 107,714 0 161,229
Disposals (-)
Transfers * (+/-)
Balance carried 0 £1,124,05 3,185,247 73,189 4,382,495
forward 9
Accumulated depreciation
Balance brought 1,124,059 3,185,247 73,189 4,382,495
forward
Depreciation charge
for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried 1,124,059 3,185,247 73,189 4,382,495
forward
Net book value
Brought forward 0 1,070,05 3,077,533 73,189 4,221,266
9
Carried forward 0 1,124,059 3,185,247 73,189 4,382,495
----- End of picture text -----*
The additions relate to revaluation of fixtures and fittings following the new insurance company taking over. Fixtures now cover PA and lighting equipment, computers and tuck shop stock.
10 Investment assets
The circuit has no Investment properties
The circuit has no common investment fund holdings
11 Loans
The Circuit has no loans
12 Analysis of restricted and designated funds 2020-21
----- Start of picture text -----
Restricted Openin Incomin Resourc Transfe Closin Purpose of the
Fund Name g g es rs g fund
Balanc Resourc Expende Balanc
e es d e
Building Fund 6,016 0 478 5,538 Support for
building
development
and mission
projects
Totals 6,016 0 478 5,538
----- End of picture text -----
The Circuit agreed to provide hand sanitising equipment for all Circuit Churches to meet Covid-19 regulations. These expenses will be assigned to this fund, some expenses were received in the 2020/2021 financial year.
Name of Circuit North Shields & Whitley Bay Number 20/05
Declarations and Scrutiny
I confirm that these accruals-based accounts for the year to 31 August 2021 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit meeting.
Signature of Treasurer Colin Raistrick Date 19th May 2022
Name and address of Treasurer
Colin Raistrick, 12 Park Crescent, Shiremoor, Newcastle upon Tyne, NE27 OLH
Presentation to the Circuit meeting
I confirm that the annual report and accounts for the year ended 31 August 2021 were presented to the Circuit meeting held on 9th June 2022
Signature of the Chair of the meeting Rev David Wynd
Name of the Chair of the meeting Rev David Wynd Date 9th June 2022
Registered Charity 1132438 Name of Circuit North Shields & Whitley Bay Circuit
| Registered Charity 1132438 Name of Circuit North Shields & Whitley Bay Circuit |
Registered Charity 1132438 Name of Circuit North Shields & Whitley Bay Circuit |
Registered Charity 1132438 Name of Circuit North Shields & Whitley Bay Circuit |
|---|---|---|
| Statement of Financial Activities (SOFA) for the yea General Fund Trust |
||
| Notes to the accounts | (Unrestricted) | (Unrestricted) |
| £ | £ | |
| Income | CFB | |
| 1 Donations | 0 | |
| 2 Income from monetary investments | 5 | 48 |
| 3 Rent from investment properties | 8,446 | |
| 4 Assessments on Churches | 51,001 | 191,627 |
| 5 Capital Receipts - church layworkers | 10,614 | |
| 6 Grants received - District, NTC Covid-19 | 1,000 | 20,000 |
| 7 HMRC Jobs Retention Scheme | 8,114 | |
| 8Total income | 79,181 | 211,675 |
| Expenditure | ||
| 9 Grants & donations - Mission & Building Fund | ||
| 10 Salaries incl training & travel & relocation | 5,447 | 172,618 |
| 11 Prop maint + C Tax + water + insurance | 11,845 | |
| 12 TMCP levy + TMCP charges | ||
| 13 District Assessment & Levy | 46,570 | |
| 14 Legal fees re Earsdon land rights | 3,361 | |
| 15 Ofce expenses + tel + web + zoom + C News | 7,236 | |
| 16 Other - P Nursing + Copyright + Xmas angels | 6,321 | |
| 17Total charitable expenditure | 34,209 | 219,188 |
| 18 Gains/(losses) on monetary investments | ||
| 19 Gains/(losses) on investment properties | ||
| 20Net income/(expenditure) | 44,972 | -7,513 |
| 21 Transfers between funds | - 40,000 | 40,000 |
| 22 Other gains/(losses) | ||
| 23Net movement in funds | 4,972 | 32,487 |
| 24 Total funds brought forward | 1,161,380 | 34,832 |
| 25 Total funds carried forward | 1,166,352 | 67,319 |
Circuit No 20/05
| a | r ended 31 August 202 Oxford Street Restricted Funds £ £ £ £ TMCP Network 0 928 982 14,980 5,079 28,505 242,628 10,614 21,000 928 14,980 5,079 311,843 0 178,065 8,990 165 21,000 1,586 1,586 46,570 3,361 7,236 6,321 1,586 8,990 165 264,138 - 0 -658 5,990 4,914 47,705 - - 0 -658 5,990 4,914 47,705 58,728 - 23,142 2,349,648 3,581,446 58,070 - 17,152 2,354,562 3,629,151 Funds (unrestricted) Property + 41 Flat Total 2020-2021 |
|---|---|
Circuit No 20/05
Registered Charity 1132438
Name of Circuit North Shields & Whitley Bay Circuit
| Statement of Financial Activities (SOFA) for the year ended 31 August 2020 | Statement of Financial Activities (SOFA) for the year ended 31 August 2020 | Statement of Financial Activities (SOFA) for the year ended 31 August 2020 | Statement of Financial Activities (SOFA) for the year ended 31 August 2020 | Statement of Financial Activities (SOFA) for the year ended 31 August 2020 | Statement of Financial Activities (SOFA) for the year ended 31 August 2020 | Statement of Financial Activities (SOFA) for the year ended 31 August 2020 | Oxford Street p y |
Oxford Street p y |
|
|---|---|---|---|---|---|---|---|---|---|
| accounts | (Unrestricted) (Unrestricted) | (unrestricted) | Funds | 41 | Flat | 2019-20 | |||
| £ | £ | £ | £ | £ | £ | ||||
| Income | CFB | TMCP | Network | ||||||
| 1 Donations (Beachcomber, Eccles Court) | 2,049 | 2,049 | |||||||
| 2 Income from monetary investments | 35 | 346 | 546 | 926 | |||||
| 3 Rent from investment properties | 7,157 | 16,337 | 3,661 | 27,156 | |||||
| 4 Assessments on Churches | 34,096 | 147,318 | 181,414 | ||||||
| 5 Capital Receipts - church layworkers | 14,401 | 14,401 | |||||||
| 6 Grants received - Karbon homes | 1,000 | 1,000 | |||||||
| 7 HMRC Jobs Retention Scheme | 3,547 | ||||||||
| 8Total income | 62,285 | 147,664 | 546 | 16,337 | 3,661 | 230,492 | |||
| Expenditure | |||||||||
| 9 Grants & donations - Mission & Building Fund | 0 | ||||||||
| 10 Salaries incl training & travel & relocation | 13,081 | 172,294 | 185,374 | ||||||
| 11 Prop maint + C Tax + water + insurance | 10,543 | 7,164 | 668 | 18,375 | |||||
| 12 TMCP levy + TMCP charges | 1,616 | 1,616 | |||||||
| 13 District Assessment & Levy | 44,030 | 44,030 | |||||||
| 14 Legal fees re Earsdon land rights | 822 | 822 | |||||||
| 15 Ofce expenses incl tel + web + zoom | 4,749 | 4,749 | |||||||
| 16 Other - P Nursing + Copyright + Xmas angels | 6,330 | 6,330 | |||||||
| 17Total charitable expenditure | 35,524 | 216,324 | 1,616 | 7,164 | 668 | 261,296 | |||
| 18 Gains/(losses) on monetary investments | - | 66 | -66 | ||||||
| 19 Gains/(losses) on investment properties | |||||||||
| 20Net income/(expenditure) | 26,761 | -68,660 | -1,137 | 9,173 | 2,993 | -30,870 | |||
| 21 Transfers between funds | - | 35,000 | 35,000 | 0 | |||||
| 22 Other gains/(losses) | |||||||||
| 23Net movement in funds | -8,239 | -33,660 | -1,137 | 9,173 | 2,993 | -30,870 | |||
| 24 Total funds brought forward | 1,169,619 | 68,492 | 59,865 - | 32,315 | 2,346,655 | 3,612,316 | |||
| 25 Total funds carried forward | 1,161,380 | 34,832 | 58,728 - | 23,142 | 2,349,648 | 3,581,446 |
Registered Charity 1132438
Circuit No 20/05
Name of Circuit: North Shields & Whitley Bay
Balance Sheet as at 31 August 2021
----- Start of picture text -----
Notes to the General Fund Circuit Model Designated Restricted Endowment Totals 2020/21 Totals 2019/20
Accounts (U £ t i t d) T £ t F £ d F £ d F £ d £ £
Fixed Assets
Circuit Manses x 4 1,124,059 1,124,059 1,070,544 303665
Investment properties - Oxford Street 3,185,247 3,185,247 3,077,533 298772
Investments 0 0 279177
Total fixed assets 4,309,306 0 0 0 0 4,309,306 4,148,077 242445
Current Assets Barclays CFB TMCP Network
Debtors 0 26,434
Loans by the Circuit 0
Investments with TMCP 58,070 58,070 58,728
Central Finance Board Deposits 67,319 67,319 34,832
Cash at Bank and in hand 35,543 35,543 24,739 5216.75
Total current assets 35,543 67,319 58,070 0 0 160,931 144,733
Current liabilities
Creditors (due in under 1 year) 0
Grants payable within 2020-21 0
Total current liabilities 0 0 0 0 0 0 0
Net current assets/liabilities 35,543 67,319 58,070 0 0 160,931 144,733
Total assets less current liabilities 4,344,849 67,319 58,070 0 0 4,470,237 4,292,810
Property & Barclays CFB TMCP
Long term liabilities
Grants payable after 2020-21 0
Loans to the Circuit 0
0
Net assets 4,344,849 67,319 58,070 0 0 4,470,237 4,292,810
Funds of the Circuit Property & Barclays CFB TMCP
General Fund (Unrestricted) 4,344,849 4,344,849 4,062,132
Circuit Model Trust Fund (Unrestricted) 67,319 67,319 68,492
Designated Funds (Unrestricted) 58,070 58,070 59,865
Total Unrestricted Funds 4,470,237 4,190,489
Restricted Funds 0 0 6,500
Endowment Funds 0 0
Total Funds 4,344,849 67,319 58,070 0 0 4,470,237 4,196,989
----- End of picture text -----
Signed Colin Raistrick Circuit Treasurer
Independent Examiner’s Report to the Trustees of the North Shields & Whitley Bay Circuit Charity Number 1132438
Responsibilities and basis of report
I report to the trustees on my examination of the accounts of the North Shields & Whitley Bay Circuit for the year ended 31 August 2021.
As the Circuit’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 Circuit’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.
Basis of Independent Examiner’s Report
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items, in nature or scale, or disclosures in the accounts, seeking explanations from the Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a true and fair view. My report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, NO matter has come to my attention
(1) which gives me cause to believe that in, any material respect:
- the accounting records were not kept in accordance with Section 130 of the Charities Act: or
• the accounts did not accord with the accounting records; or the accounts did 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.
(2) I have obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Name of Independent Examiner Jeff Corrigan Signature of Independent Examiner Jeff Corrigan Address On file as per GDPR Date 19th May 2022
To the Circuit Meeting, being the Board of Trustees of the North
Shields & Whitley Bay Circuit of the Methodist Church
I hereby confirm that, to the best of my knowledge and belief, on the basis of the transaction-listing for the year that has been provided to me by the Circuit, and after making such further enquiries as seemed reasonable in my capacity as a charity trustee, I am not aware of any financial transactions of the Circuit for the financial year ended 31 August 2021
that are required under the Charities SORP(FRS102) to be disclosed in the annual accounts as either ‘trustee-benefits’ or ‘related party’ transactions in connection with myself, including any donations direct to the Circuit during the financial year.
Signed Colin Raistrick
Name of Trustee Colin Raistrick
Dated 19th May 2022
List here the transactions of North Shields & Whitley Bay Circuit to be disclosed in this year’s accounts in connection with myself and persons closely connected with me:
Not Applicable
Explanatory Notes:
- Under FRS102, for all accounts purporting to show a true and fair view (as is required by the Charities SORP), it is mandatory , and for non-company charities ( eg the District) also a statutory requirement , to disclose:
‘such particulars of the related party transactions of the charity, or of any institution or body corporate connected with the charity, as may be required by the SORP to be disclosed.’
– SI 2008/629, Sch 2, para 1(e)
-
The following individuals and bodies all count as ‘related parties’ for the required disclosure of the charity’s transactions with them regardless of fnancial size:
-
●the Circuit trustees
-
●any custodian trustee(s) of the Circuit
-
●a donor of land to the Circuit (at any time)
-
●a child, parent, grandchild, grandparent, brother or sister of any of the above
-
●an officer or agent or one of the Circuit’s “key management personnel”
-
●the spouse or civil partner of any of the above
-
●a business partner of any of the above
-
●anyone* with sole or joint control or else significant influence over the Circuit - thus also including the District or Connexion
-
(*including their close family: children, spouse (or domestic partner) and that person’s children, step children or illegitimate children or any other dependents)
-
●the Circuit’s subsidiary/associated undertakings and any fellow subsidiaries or associates (or corporate joint ventures, in each case) – the SORP overrides FRS102’s disclosure exemptions for those included in group accounts
-
●another charity with any trustees in common if it is subordinated to the charity
-
●a pension fund for the charity’s staff or for any of its related parties
-
●a company or other entity (whether or not under charity control) in which any of the above individuals alone or collectively have a ‘substantial interest or significant influence’ (presumed if having 20% of the equity or of the voting rights in it)
SORP(FRS102), Glossary
Note
These forms, when completed, will be made available to the Independent Examiner of North Shields & Whitley Bay Circuit. It is not expected that any content will be made available to any other parties except where there is a statutory or quasi statutory requirement to do so.