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2025-08-31-accounts

Circuit Accruals Accounts 2023-2024

THE METHODIST CHURCH

STANDARD FORM OF ACCOUNTS ACCRUALS BASIS for the year ended 31 August 2024

CONWY & PRESTATYN

Circuit

Registered Charity - Registration number

1132560

This will apply to all Charities in Scotland and all Charities in England and Wales which are registered Charities

WALES SYNOD District Circuit No 02 12

Ministers

Revd. Janet Park - (Superintendent) Deacon Linda Brown

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Circuit Stewards Elizabeth Morgan
Roger Adams
Frances Williams
Gwen Martin
Circuit Treasurer Paula Hammond
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Conwy & Prestatyn Circuit

Circuit No 02 12

Statement of Financial Activities (SOFA) for the year ended 31 August 2024

Notes to
the
accounts
Income
1 Donations and legacies
2 Income from monetary investments
int & divs
3 Income from investment properties
lettings
4 Assessments on Churches
5 Capital Receipts
6 Grants received
7 Other charitable income - (inc trf from Rhuddlan)
8Total income
Expenditure
9 Grants and donations
10 Salaries and associated costs
11 Property maintenance
12 Connexional assessment & model trust levy
13 District Assessment & Levy
14 Depreciation
15 Office expenses
16 Other outgoings
17Total charitable expenditure
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20Net income/(expenditure)
21 Transfers between funds
22 Other gains/(losses)
23Net movement in funds
24 Total funds brought forward
25 Total funds carried forward
General Fund
(Unrestricted)
Circuit Model
Trust
(Unrestricted)
Designated
Funds
(unrestricted)
Restricted
Funds
Endowment
Funds
Total
2023-24
£
£
£
£
£
£
circuit model surplus fund
0
12,000
12,000
14,306
22,761
546
37,613
0
162,758
162,758
-
-
0
0
7,357
7,357
184,421
34,761
546
-
-
219,728
2,500
51,000
53,500
145,349
145,349
10,743
10,743
42,092
42,092
5,380
16,365
21,745
0
15,585
15,585
21,282
1,223
29
22,534
242,931
68,588
29
0
0
311,548
3,890
3,890
68,516
-58,510
38,579
517
0
0
-87,930
179,234
179,234
-
0
0
120,724
-140,655
517
0
0
-87,930
1,253,014
429,776
10,100
1,692,890
1,373,738
289,121
10,617
-
-
1,604,960

Circuit No 02 12

Conwy & Prestatyn Circuit

Statement of Financial Activities (SOFA) for the year ended 31 August 2023

Notes to
the
accounts
Income
1 Donations and legacies
2 Income from monetary investments
int & divs
3 Income from investment properties
lettings
4 Assessments on Churches
5 Capital Receipts
6 Grants received
7 Other charitable income - trf Rhos & Rhuddlan
8Total income
Expenditure
9 Grants and donations
10 Salaries and associated costs
11 Property maintenance
12 Connexional assessment & model trust levy
13 District Assessment & Levy
14 Depreciation
15 Office expenses
16 Other outgoings
17Total charitable expenditure
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20Net income/(expenditure)
21 Transfers between funds
22 Other gains/(losses)
23Net movement in funds
24 Total funds brought forward
25 Total funds carried forward		 General Fund
(Unrestricted)
Circuit Model
Trust
(Unrestricted)
Designated
Funds
(unrestricted)
Restricted
Funds
Endowment
Funds
Total
2022-23
£
£
£
£
£
£
circuit model surplus fund
0
569
11,731
315
12,615
0
190,404
190,404
0
10,000
10,000
17,830
45,135
62,965
218,803
56,866
315
-
-
275,984
6,000
6,000
125,656
125,656
57,590
57,590
42,860
1,566
44,426
5,742
-
5,742
-
0
12,980
12,980
20,303
37,085
28
57,416
265,131
44,651
28
0
0
309,810
1,638
-
-1,638
285,000
-
551,259
266,259
-331,328
561,836
287
0
0
230,795
250,054
250,054
-
-
0
0
-81,274
311,782
287
0
0
230,795
1,334,288
117,994
9,813
1,462,095
1,253,014
429,776
10,100
-
-
1,692,890

Conwy & Prestatyn Circuit

Circuit No 02 12

Balance Sheet as at 31 August 2024

3

3
Fixed Assets Notes to the
Accounts		 General Fund
(Unrestricted)
£		 Circuit Model
Trusts
(Unrestricted)
£		 Designated
Funds
(Unrestricted)
£		 Restricted
Funds
£		 Endowment
Funds
£		 Totals 2024
£		 Totals 2023
£
Circuit Manses & Equipment 947,680 947,680 947,680
Investmentproperties 0 0
Investments 0 0
Total fixed assets 947,680 0 0 0 0 947,680 947,680
Current Assets
Debtors 0 0 757
Loans bythe Circuit 0 0
Investments with TMCP 112,313 176,808 10,617 299,738 439,284
Central Finance Board Deposits 352,368 352,368 253,504
Cash at Bank and in hand 75,130 75,130 54,809
Total current assets 539,811 176,808 10,617 0 0 727,236 748,354
Current liabilities
Creditors (due in under 1 year) 1,440 1,440 3,144
Grantspayable within 2017-18 0 0
Total current liabilities 0 0 0 0 1,440 3,144
Net current assets/liabilities 539,811 176,808 10,617 0 0 725,796 745,210
Total assets less current liabilities 1,487,491 176,808 10,617 0 0 1,673,476 1,692,890
Long term liabilities
(due after more than oneyear)
Grantspayable after 2017-18 0 0
Loans to the Circuit 0 0
0 0
Net assets 1,487,491 176,808 10,617 0 0 1,673,476 1,692,890

Funds of the Circuit

Funds of the Circuit
General Fund(Unrestricted) 1,373,738 289,121
10,617
0
0		 1,373,738 1,253,014
Circuit Model Trust Fund (Unrestricted) 289,121 289,121 429,776
Designated Funds(Unrestricted) 10,617 10,617 10,100
Total Unrestricted Funds 1,673,476 1,692,890
Restricted Funds 0 0 0
Endowment Funds 0 0 0
Total Funds 1,373,738 289,121 10,617 0 0 1,673,476 1,692,890

CONWY & PRESTATYN

Circuit

Notes to the Accounts

1 Basis of accounting

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2015 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 (FRS 102) 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 purpose defined in Standing Orders and is categorised as unrestriced. Restricted funds which are held for a narrower purpose and Endowment funds which represent gifts, the capital normally being unavailable for spending and the income from which is either Restricted or Unrestricted. 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

Incoming Resources

These are included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, the trustees are virtually certain they will receive the resources; and the monetary value can be measured with sufficient reliability.

Resources Expended

Expenditure is recognised when a liability is incurred, or a constructive obligation arises that results in the payment being unavoidable.

Liability Recognition

Liabilities are recognised as soon as there is a legal or a constructive obligation committing the Circuit to pay out resources. Future income must not be anticipated (SORP 2015).

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 say £1000. They are valued at cost or a reasonable value on receipt. Where cost is not available, the Circuit meeting may provide a reasonable estimate of cost or of the buildings current value to the circuit. An estimate based on insurance value should take account of the fact that cover will be based on demolition and reinstating the current building and not the original cost less accumulated depreciation. A professional valuation is not required, but if available, use that figure. Provision is made for depreciation where appropriate.

Investment Properties

Investment properties - properties not used for the purpose of the charity (and never used for that purpose). The property should be valued at market value, but insured value may be used.

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.

Include investments held with the Central Finance Board. Do not include Deposit Funds, such as TIF (Trustee Interest Fund) held via Trustees for Methodist Church Purposes. These latter funds should be shown separately.

Debtors and Prepayments

Show amounts owing to the Circuit or prepayments made.

Creditors

Show amounts owing to the Circuit and any amounts accrued as due in the following year.

CONWY & PRESTATYN

Circuit

Loans

If the circuit has borrowed any money, please give the information in the designated section. Loans made to the

Circuits may be confidential and may be free of interest. It is not necessary to breach confidentiality in recording sources: use the word 'Individuals' if appropriate.

Endowment Funds

Where the circuit holds money which cannot be spent but must be retained (as capital) to generate an income the money

or assets to be retained are known as an Endowment Fund. The capital should be included in the appropriate column in

the Balance Sheet. The income generated may be restricted or unrestricted depending upon the terms of the endowment

Net Current Assets (Liabilities)

Deduct creditors from total current assets.

Total Assets Less Net Current Liabilities

Deduct net current assets (liabilities) from the total of fixed and current assets. Net assets totals must agree with Total Funds held.

4 Payment to Trustees
Record payments made to trustees for additional services provided to the Circuit
by agreement with the Circuit Meeting, e.g. A trustee is also a plumber who carries
out work in that capacity. Do not include ministers' stipends here; they are reported
on line 11 of the SOFA. Further details can be included in a seperate note to the
accounts if desired. (More detailed guidance is on the Methodist website)
£
This will not include stipends
Number of Trustees who were paid expenses
Nature of expenses		 This Year This Year Last Year
7 9
Travel, printing,stationeryand resources costs incurred byministers,staff and officers on behalf of the circuit
Total amount paid
£
5 Fees for examination or audit of the accounts
Independent examiner's or auditors' fees for reporting on the accounts
£
Other fees (eg: advice, accountancy services) paid to the independent
£
examiner or auditor.
6 Paid employees
Staff Costs paid during the year were:
Gross wages, salaries and benefits in kind
£
Employer's National Insurance Costs
£
Pension Costs
£
Total Staff Costs
£
Average number of full-time employees in the year were:
7 Capital Commitments and Contingent Liabilities
If the Circuit has any commitments or liabilities these should be disclosed.
At 31st August 2022 capital commitments amounted to:
£
Contingent liabilities amounted to:
£		 21,431
1,440
114,277
8,556
22,516
145,349
3
0
0
20,478
1,440
95,757
8,026
21,873
125,656
3.25
0 0
0 0

CONWY & PRESTATYN

Circuit

Tangible Fixed Assets

Cost or Valuation

Cost or Valuation
Manses etc
£		 Other land &
Buildings
£		 Other fixed
assets including
Motor Vehicles
£		 Fixtures,
Fittings &
Equip
£		 Payments on
account and assets
under construction
£		 Total
£
Balance Brought Forward 947,680 947,680
Additions -
Revaluations(+/-)
Disposals(-) -
Transfers*(+/-)
Balance Carried Forward 947,680 947,680
Accumulated depreciation
*Basis*
Rate		 SL or RB
SL or RB
SL or RB
SL or RB
SL or RB
Balance Brought Forward
Depreciation charge foryear(-)
Revaluations(+/-)
Disposals(-)
Transfers*(+/-)
Balance Carried Forward
Net book Value
Brought Forward 947,680 947,680
Carried Forward 947,680 947,680

*The "transfers" row is for movement between fixed asset categories.

**Indicates the method of depreciation by deleting the method not applicable (SL=Straight Line; RB=Reducing Balance). Also indicate the

rate of depreciation:for SL, depreciation is based on the anticipated life of the asset(in years); for RB, a percentage annual deduction is made each year.

Investment assets
Investment properties
Analysis of investments		 Income
Market value at
from invest-
year end
ments for year
£
£		 Income
Market value at
from invest-
year end
ments for year
£
£
0 0
Investments listed on a recognised Stock Exchange or held in common investment funds, open
ended investment companies, unit trusts or other collective investment schemes
Securities not listed on a recognised Stock Exchange
Cash held aspart of the investmentportfolio
Other Investments
Total
Change in investment values
Carrying (market) value at beginning of year
Add:additions to investments at cost
Less:disposals at carrying value
Add/(deduct):net gain/(loss) on revaluation (This should agree with line 21 in the SOFA)
Carrying (market) value at end of year

Treasurer

I confirm that I have prepared the accounts from the records of the Circuit and that they include all funds under the control of the Circuit Meeting

Signature of Treasurer
Name
Address		 Date
Paula Hammond
Fairhaven Hotel, 3 Craig-y-Don Parade, Llandudno
Conwy,LL30 1BG

Presentation to the Circuit Meeting for approval

I confirm that Accounts have been presented to the Circuit Meeting on and were approved. Signature of the Chair of the meeting Name of the Chair of the Revd. James Garnett meeting Date

Independant Examiner's Report to the Trustees of the

CONWY & PRESTATYN

Circuit

I report is on the financial statements for the year ended 31st August 2024 which comprise the statement of financial activities, statement of financial position and the related notes.

Respective responsibilities of Trustees and Examiner

The Trustees are responsible for the preparation of the financial statements. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Examine the accounts under section 145 of the 2011 Act;

To follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and

To state whether particular matters have come to my attention.

Basis of Independent Examiner's Report

My examination was carried out in accordance with the general directions given by the Charity Commission and 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 or disclosures in the accounts, and seeking

explanations from you as trustees concerning any 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" and the report is limited to those matters set out in the next statement.

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention:

1 Which gives me reasonable cause to believe that in any material respect the requirements:

O To keep the accounting records in accordance with Section 130 of the 2011 Act, and

O To prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act

have not been met; or

2 to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Name Mark Butterworth BSc (Hons), FCA, FCCA Signature

Relevant Professional Qualification or Body

Chartered Accountant

Address Butterworths, Windsor House, 26 Mostyn Avenue, Craig-y-Don, Llandudno, Conwy LL30 1YY Date