# **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:
- a) The Christian faith in accordance with the doctrinal standards and disciplines 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
## _**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