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2022-08-31-accounts

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

Charity number: 1132521

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

CONTENTS

Page
Report of the Trustees 1 - 5
Receipts and Payments Account 6
Statement of Assets and Liabilities 7
Independent Examiner’s Report 8

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2022

The Trustees are pleased to present their report, together with the financial statements for the year ended 31 August 2022.

Reference and administration details

Charity name: Thetford, Diss and Mildenhall Methodist Circuit Thetford, Diss and Mildenhall Methodist Circuit
Charity registration number: 1132521
Address of charity: Thetford Methodist Church
Tanner Street
Thetford
IP24 2BQ
Trustees: Revd D Ely Minister
Revd D McAloon Minister
Deacon D Ely Minister
J Mottram Outreach Worker * &
Church Steward**
N Hodson Circuit Steward*
J Morgan Circuit Steward & Church Steward*
P Mottram Circuit Steward & Church Steward*
J Simpson Circuit Steward Church Steward* &
Church Treasurer**
A Bannister Circuit Secretary* & Church
Steward**
Mrs J Browne Circuit Leaders
of Worship Secretary* &
Church Steward**
Mr J Browne Church Property
Secretary & Church Steward*
J Weibel Church Connexional Fund*
B Shurmer Church Steward**
P Rixon Church Treasurer**
T Bennett Church Steward**
J Chambers Church Steward** & Church
Treasurer**
D Osborne Church Steward**
S Langridge Church Treasurer**
W Brown Church Steward**
H Clarke Church Treasurer**
S Hawes Church Steward**
M Corke Church Steward** & Church
Treasurer**
R Harrison Church Steward**
G Peachey Church Property Steward**

1

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

REPORT OF THE TRUSTEES CONTINUED

FOR THE YEAR ENDED 31 AUGUST 2022

Trustees (continued): L Spencer Church Steward & Church Treasurer D Chance Church Property Steward S Little Church Treasurer J Osborne Church Steward J Woollard Church Steward J Hart Church Treasurer *appointed by Circuit Trustees appointed by Church Council Circuit Administrator: C Croker Bankers: Lloyds Bank plc 35 King Street Thetford IP24 2AX Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE Independent Examiner: M Proctor FCA DChA Lovewell Blake LLP Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB

2

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2022

Objectives and activities

The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union (1932) the advancement of:

Public benefit

The Circuit produces a quarterly preaching plan to ensure regular acts of worship take place at each of the current twelve Methodist Churches in its geographical area. These are open to all people without charge. All twelve churches in the circuit undertake to work alongside their local community to assist in charitable purposes in accordance with doctrinal standards and disciplines of the Methodist Church. We confirm the trustees have had regard to the Charity Commission’s public benefit guidance.

Achievements and performance

The Circuit has continued to work alongside the local community, assisting in charitable purposes.

Financial review

Total income amounted to £146,214 (2021: £128,746) and total expenditure amounted to £172,596 (2021: £216,963) giving an overall deficit of £26,382 (2021: £88,217).

£25,000 was transferred to unrestricted funds from the Circuit Model Trust Fund (2021: £75,000) as the income received from the Churches in the Circuit is not sufficient to pay all necessary expenses and they do not have sufficient income to pay more. This was approved by the Trustees.

The Circuit Model Trust Fund holds the money allocated for the “reserves policy” plus the money received for sale of property. The money received from sale of property is used to support the Circuit, the Churches and their Mission as stated above.

Financial information is given to the trustees four times a year and they approve expenditure on all projects.

3

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2022

Financial review (continued)

Income

92% (2021: 99%) of the Circuit’s actual income was provided by local Churches and rental of Mildenhall Manse.

Expenditure

57% (2021: 42%) of expenditure paid for employing ministers.

18% (2021: 17%) was spent on manse costs, and church repair costs.

3% (2021: 2%) is our contribution to the District.

2% (2021: 39%) was spent on administration and supporting individual Churches in complying with building regulations and all aspects relating to worship and fulfilling their mission.

All income and expenditure are related to the Circuit being able to fulfil its mission.

Reserves policy

The reserves policy for the year 2021/2022 for the Thetford Diss and Mildenhall Circuit is to hold a sum equivalent to six months average general expenditure, excluding any special projects, this being £75,000. This should be sufficient to meet any unforeseen item of general expenditure on manses and/or an inability to raise the full Circuit Assessment from Churches. As part of our forward planning budget forecasts are prepared looking three years ahead.

As at 31 August 2022 the Circuit had cash reserves of £48,110.

The trustees are very aware of the financial situation and will work on building up the reserves. A planned property sale will assist with this in 2022/23.

Plans for future periods

The Circuit Trustees intend to continue with the charity’s charitable purposes as detailed above, maintaining and improving properties as necessary.

4

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 AUGUST 2022

Structure, governance and management

Governing document

Thetford, Diss and Mildenhall Methodist Circuit is an unincorporated association established by a Deed of Union (1932) and the Methodist Church Act (1976).

Appointment and recruitment of Trustees

Trustees are appointed by local churches and existing Trustees. Ministers are automatically appointed.

Trustees’ induction and training

Trustees are issued with a range of guidance produced by the Methodist connexion. The leaflet “The Role of a Trustee in the Methodist Church” is given to each Trustee. Training programmes are organized by the Methodist connexion and East Anglia District.

Risk management

Risks are considered by the Circuit Leadership Team and taken to the Circuit Meeting for Trustees for agreement on action to be taken. Trustees take professional advice as required, and there is a regular review process. The Trustees have adopted a Safeguarding Policy and ensured it is rolled out to the churches. They also ensure all policies and procedures are kept up to date.

Organisational structure

The charity is part of the East Anglia District and is accountable to the Methodist Conference.

Trustees

The current Trustees are shown on pages 1 and 2. All Trustees held office throughout the year.

Signed on behalf of the trustees

Revd David Ely Superintendent Minister for the Circuit

29 June 2023

5

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

Designated
Unrestricted
Restricted
Circuit Model
Fund
Fund
Trust Fund
£
£
£
Receipts
Investment income
Assessment/Share
134,339
-
-
Bank and CFB interest
87
3
258
Loan repayments
1,000
-
-
Other receipts
10,527
-
-

Total receipts
145,953
3
258
Payments
Donations and Grants
-
-
-
Stipends, salaries, NIC, Pension
and travel costs
98,579
-
-
Manse Costs
25,587
-
-
Administration
3,951
-
214
District Assessment
5,021
-
Church Repair Costs
6,246
-
-
East Anglia Resource Fund
23,998
-
-
East Anglia Travel Fund
3,760
-
-
Other Payments 3,366 - 1,874
Total payments
170,508
-
2,088
Net payments
(24,555)
3
(1,830)
Transfers between funds
25,000
-
(25,000)
Cash and bank balances
at 31 August 2021
37,293
250
74,940
Cash and bank balances
at 31 August 2022
37,738
253
48,110		 Designated
Unrestricted
Restricted
Circuit Model
Fund
Fund
Trust Fund
£
£
£
Receipts
Investment income
Assessment/Share
134,339
-
-
Bank and CFB interest
87
3
258
Loan repayments
1,000
-
-
Other receipts
10,527
-
-

Total receipts
145,953
3
258
Payments
Donations and Grants
-
-
-
Stipends, salaries, NIC, Pension
and travel costs
98,579
-
-
Manse Costs
25,587
-
-
Administration
3,951
-
214
District Assessment
5,021
-
Church Repair Costs
6,246
-
-
East Anglia Resource Fund
23,998
-
-
East Anglia Travel Fund
3,760
-
-
Other Payments 3,366 - 1,874
Total payments
170,508
-
2,088
Net payments
(24,555)
3
(1,830)
Transfers between funds
25,000
-
(25,000)
Cash and bank balances
at 31 August 2021
37,293
250
74,940
Cash and bank balances
at 31 August 2022
37,738
253
48,110		 Designated
Unrestricted
Restricted
Circuit Model
Fund
Fund
Trust Fund
£
£
£
Receipts
Investment income
Assessment/Share
134,339
-
-
Bank and CFB interest
87
3
258
Loan repayments
1,000
-
-
Other receipts
10,527
-
-

Total receipts
145,953
3
258
Payments
Donations and Grants
-
-
-
Stipends, salaries, NIC, Pension
and travel costs
98,579
-
-
Manse Costs
25,587
-
-
Administration
3,951
-
214
District Assessment
5,021
-
Church Repair Costs
6,246
-
-
East Anglia Resource Fund
23,998
-
-
East Anglia Travel Fund
3,760
-
-
Other Payments 3,366 - 1,874
Total payments
170,508
-
2,088
Net payments
(24,555)
3
(1,830)
Transfers between funds
25,000
-
(25,000)
Cash and bank balances
at 31 August 2021
37,293
250
74,940
Cash and bank balances
at 31 August 2022
37,738
253
48,110		 Designated
Unrestricted
Restricted
Circuit Model
Fund
Fund
Trust Fund
£
£
£
Receipts
Investment income
Assessment/Share
134,339
-
-
Bank and CFB interest
87
3
258
Loan repayments
1,000
-
-
Other receipts
10,527
-
-

Total receipts
145,953
3
258
Payments
Donations and Grants
-
-
-
Stipends, salaries, NIC, Pension
and travel costs
98,579
-
-
Manse Costs
25,587
-
-
Administration
3,951
-
214
District Assessment
5,021
-
Church Repair Costs
6,246
-
-
East Anglia Resource Fund
23,998
-
-
East Anglia Travel Fund
3,760
-
-
Other Payments 3,366 - 1,874
Total payments
170,508
-
2,088
Net payments
(24,555)
3
(1,830)
Transfers between funds
25,000
-
(25,000)
Cash and bank balances
at 31 August 2021
37,293
250
74,940
Cash and bank balances
at 31 August 2022
37,738
253
48,110		 Total
2022
£
134,339
348
1,000
10,527
146,214		 Total
2021
£
117,404
467
2,000
8,875
128,746
39,648
88,720
24,064
15,923
5,259
13,197
24,360
2,440
3,352
216,963
(88,217)
-
200,700
112,483

-
98,579
25,587
3,951
5,021
6,246
23,998
3,760
3,366
170,508
(24,555)
25,000
37,293
37,738		 -
-
-
-
-
-
-
-
-
-

3
-

250
253		 -
-
-
214
-
-
-
1,874
2,088
(1,830)
(25,000)
74,940
48,110
-
98,579
25,587
4,165
5,021
6,246
23,998
3,760
5,240
172,596
(26,382)
-
112,483
86,101

6

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

STATEMENT OF ASSETS AND LIABILITIES

AS AT 31 AUGUST 2022


Cash funds
Bank current account
Central Finance Board
Trustees for Methodist Church Purposes
Investment assets
Land and buildings (at insurance value):
33 Abbeygate, Thetford
52 Kingsway, Mildenhall
47 Walcot Rise, Diss
Other assets
Loan to Thetford Church
Building contents (at insurance value):
33 Abbeygate, Thetford
47 Walcot Rise, Diss
Liabilities
Independent examination and accountancy

These financial statements were approved by the Trustees on 29 June 2023 and are signed on their behalf by:

Rev D Ely Superintendent Minister for the Circuit

7

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

THETFORD, DISS AND MILDENHALL METHODIST CIRCUIT

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2022 which are set out on pages 5 to 6.

As the charity’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 charity’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.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records.

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.

M Proctor FCA DChA Lovewell Blake LLP Chartered Accountants Independent examiner Norwich

30 June 2023

8