Trustees' Annual Report for the period
Period start date Period end date Day Year Day Month Year 1 September 2020 To 31 August 2021
From
Section A Reference and administration details
Charity name
Rotherham and Dearne Valley Circuit
Other names charity is known by
Registered charity number (if any) 1132844
Charity's principal address 18 Queensway Rotherham Postcode S60 3EE
Names of the charity trustees who manage the charity
| 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 |
Trustee name | Office (if any) | Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee(if any) |
|---|---|---|---|---|
| Rev Joanne Archer-Siddall |
Superintendent | |||
| Rev Jennifer Park | ||||
| Rev Dick Styles | ||||
| Rev Lynn Broadhead |
||||
| Mr Edward Archer Siddall |
||||
| Mr Wayne Ashton | ||||
| Mr Jonathan Hood | ||||
| Mrs Eleanor Wainwright |
||||
| Mr David Ryan | ||||
| Mrs Anne Holmes | ||||
| Mrs Jane Shore | ||||
| Mrs Sandra Tanser | ||||
| Mr Roger Lindley | ||||
| Mrs Janet Hampshire |
||||
| Mrs Karen Dunn | ||||
| Mr Robert Hambrey | ||||
| Mr David Guy | ||||
| Mr Ian Maw | ||||
| Mrs Rona Hudson | ||||
| Mr Graham Hudson | ||||
| Mrs Rita Rutherford | ||||
| Mr Michael Lumb |
TAR
1
2020 - 2021
23 Mrs Mary Lumb 24[Mrs Victoria ] Loveday 25[Mrs Margaret ] Moran 26 Mrs Judith Olllivant 27 Mr Steve Hannam 28 Mrs Joyce Kilner 29[Mrs Chris ] Houghton 30 Mr Clive Taylor 31 Mrs Pat Na 32 Mrs Irene White 33 Mr Ron Cauwood 34 Mr Peter Drabble 35 Mrs Anne Wright 36[Mrs Marjorie ] Collinson 37 Mrs Anita Andrews 38 Mrs Pam Trehern 39 Mrs Julia Hindley 40 Mrs Kay Hester 41 Mrs Fiona Wilson 42 Mr Walter Cutts 43 Mr David Schofield 44 Mrs Bill Millington 45 Mrs Liz Hill 46 Mrs Margaret Smith 47 Mr John Cook 48 Mrs Amy Wright 49 Mrs Muriel Mellars 50 Mrs Gill Styles 51 Rev Joyce Barrass 52 Mr Keith Rutherford 53 54 55 56 57 58 59 60 61 62 63
TAR
2
2020 - 2021
64 65 66 67
Names and addresses of advisers (Optional information)
Type of adviser Name Address Name of chief executive or names of senior staff members (Optional information) Rev Joanne Archer- Siddall
Section B Structure, governance and management
Description of the charity’s trusts
Deed of Union (1932) AND METHODIST Church Act (1976) Type of governing document (eg. trust deed, constitution) Act of Parliament How the charity is constituted (eg. trust, association, company) Appointed by local churches and existing trustees Trustee selection methods Ministers are automatically trustees (eg. appointed by, elected by)
Additional governance issues (Optional information)
The Circuit works in partnership with other Christian Churches and a You may choose to include number of Christian charitable organisations: additional information, where relevant, about:
-
High St Centre, Rawmarsh (5 members of board of trustees)
-
policies and procedures Community Education Connection Ltd.
-
adopted for the induction and training of trustees; Methodist Homes for the Aged
-
the charity’s organisational structure and any wider Freedom2Serve Ltd network with which the charity works;
-
relationship with any related parties;
-
trustees’ consideration of major risks and the system and procedures to manage them.
Section C Objectives and activities
TAR
3
2020 - 2021
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 ;
Summary of the objects of the charity set out in its governing document
-
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 charity being a charity 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 Circuit produced a quarterly preaching plan to ensure regular acts of worship take place at each of the 10 Methodist Churches and the 2 Local Ecumenical Partnerships in its geographical area.
These are open to all people without charge, and serves over 600 people every week this way.
The Circuit exists to provide a living expression of the Christian faith in action, both in individual’s lives and in community work, and providing a regional and national voice. This includes organised acts of learning, caring, worship and service. We do this from a base of 12 caring communities and several charities.
Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)
Each of our 12 churches has a variety of public services that it offers, including, providing rooms for community use, Mums and Tots groups, playgroups, youth groups, support for youth uniformed organisations including, Scouts, Cubs, Beevers and Girls Brigade. Through High St Centre in Rawmarsh we provide services on behalf of RMBC through our Youth Charity, and Community development work. This includes respite care for children with special needs, after school care, youth clubs and meeting space.
Community Education Connection provides RE teaching 24 schools in Rotherham, based in 5 of our church congregations, including assemblies, lesson Godly Play sessions, and church visits. We also provide training for RE teachers, funded by RMBC, and significant support for the SACRE in the borough. A further 5 schools are supplied assemblies from the ‘Open the Book’ scheme.
The Circuit is directly involved with finance, manpower and support with the following ministries and projects in its area in partnership with other Christian Groups.
-
Lighthouse Homes (offering accommodation for homeless men & women)
-
Lighthouse Social Enterprises (offering residents of Lighthouse Homes opportunities for voluntary Christian service)
-
Shiloh – day centre for homeless men and women
-
Acorn Ministries (working with the elderly in local care homes)
-
The Circuit works in partnership with other Christian Churches and a number of Christian charitable organisations: Community Education Connection Ltd. in Rawmarsh, Mexborough, Swinton, Clifton and Broom (serving Local Schools with Christian assemblies and Godly Play activities)
-
Open the Book – 5 school assemblies
-
3 Methodist Homes for the Aged (chaplaincy care for the elderly)
TAR
4
2020 - 2021
We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.
Additional details of objectives and activities (Optional information)
You may choose to include further statements, where relevant, about:
-
policy on grant making;
-
policy programme related investment;
-
contribution made by volunteers.
TAR
2020 - 2021
5
Section D Achievements and performance
Summary of the main achievements of the charity during the year
Mission
This year there has been ongoing development of projects relating to the vulnerable and homeless. There have been increases in membership over 4 of the churches in the Circuit. One Church, Talbot Lane has closed.
Schools work is being developed further with active involvement in 20 schools across the borough. This includes assemblies, ‘Open the Book’ story time and Godly Play. We have employed two new members of staff, one to assist in pastoral care of members, the other for outreach work.
Trinity Hall and is now functioning as a sustainable community centre, with new rooms being used for community and ongoing plans to develop further. This will include work with those with learning difficulties. We also have developed an effective ministry towards those members of society with additional needs in the form of a ‘Prospects’ service which is monthly.
Saint John’s Church is a hub of activity every day of the week, meeting needs of the vulnerable and offering community space. The Circuit are now actively involved with the local Swinton Community Group which was effective in filling the community spaces with homemade poppies for Remembrance Day in particular in mission and evangelism.
Chaplaincy is still growing, with involvement in the Sixth Form College and the College in the Town Centre.
Plans are underway to open a new town centre church – ‘Tropical Church’ – we are working with the Council on leasing premises in the markets.
Wath Trinity Church has been sold and this has freed up funds to invest further in Trinity Hall
Holiday Clubs have continued at Clifton, Rawmarsh & Wickersley.
A Memory cafes is now being run from Wickersley and this is growing and going from strength to strength.
Further building development planned for Piccadilly in terms of a community nursery, Clifton has now completed extensive internal works for more community space and Rawmarsh is looking to renovate the entrance to the Church for it numerous building users..
Messy Church is still growing at Whiston and Central, and Whiston is working hard with the Parish Council to offer additional support for community events such as the Christmas Tree Festival.
TAR
6
2020 - 2021
Section E Financial review
Brief statement of the
charity’s policy on reserves
The Reserves policy for the Rotherham and Dearne Valley Circuit is to hold equivalent to 6 months’ average expenditure in accordance with Methodist Standing Orders. This should be sufficient to meet any unforeseen item of major expenditure.
It is necessary to hold sufficient working capital to enable the quarterly payment of stipends and business expenses for two presbyters and four Lay Workers (from 1 September 2019) and our contribution to the District and Connexion.
Details of any funds materially
in deficit
Further financial review details (Optional information)
You may choose to include additional information, where relevant about:
-
the charity’s principal sources of funds (including any fundraising);
-
how expenditure has supported the key objectives of the charity;
-
i t t li d
Section F Other optional information
Section G Declaration
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) A Holmes Full name(s) J T Archer-Siddall Position (eg Secretary, Chair, Chair Secretary etc) Date
TAR
2020 - 2021
7
Charity Registration No. 1132844
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
LEGAL AND ADMINISTRATIVE INFORMATION
| Ministers | Rev J Archer Siddall |
|---|---|
| Rev B Savage | |
| Rev J Park | |
| Layworkers | Pastor - W Ashton |
| Pastor - E Archer Siddall | |
| Administrator - A Holmes | |
| Governance Officer - D Ryan | |
| Lay Visitor - K Dunn | |
| Lay Visitor - E Whiteoak (appointed 1 April 2020) | |
| Evangelism Enabler - D Miller (resigned 30 November 2019) | |
| Circuit stewards | D Ryan |
| A Andrews (resigned 16 September 2019) | |
| J Lovell (resigned 16 September 2019) | |
| S Mills (resigned 16 September 2019) | |
| M Rhodes (resigned 16 September 2019) | |
| E Wainwright | |
| J Shore (appointed 16 September 2019) | |
| Treasurer | D Ryan |
| Charity number | 1132844 |
| Registered office | Central Methodist Church |
| Lodge Lane | |
| Aston | |
| Sheffield | |
| S26 2BP | |
| Accountants | Hart Shaw LLP |
| Europa Link | |
| Sheffield Business Park | |
| Sheffield | |
| S9 1XU |
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 14 |
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020
The trustees present their report and financial statements for the year ended 31 August 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Deed of Union (1932) and Methodist Church Act (1976) , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
Charity objective is to act as a Resource provider within the area around Rotherham for the Methodist Church .
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 the 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.
How the charity achieves its aims:
-
The organisation 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 the local university and other institutions.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The charity is the controlling body of the Methodist Church in the Rotherham and Dearne Valley area. We seek to promote the Christian Gospel of Hope through the life and teachings of Jesus Christ as contained in the Holy Bible. We do this in many ways but mainly through the operation of 13 Churches in this area. The beneficiaries of our work are many and through discussion at our circuit meeting we constantly seek new ways of spreading the Gospel.
Financial review
The charity is financially solvent and currently holds reserves in excess of Methodist requirements as laid down by conference. We are looking at how our reserves can be deployed in the future including a possible increase in ministry personnel which would require funding for a minimum of 5 years.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
As outlined in our financial review the current level of staffing is one of our main concerns at present.
- 1 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Structure, governance and management
The Rotherham And Dearne Valley Circuit is under the control of the circuit meeting in this area. The actions are outlined and discussed at our quarterly meeting. Reports are presented on a regular basis to explain our current situation.
All financial documents are supplied to the Sheffield District which itself oversees a number of circuits in this area. The day to day running of the circuit is overseen by the Circuit leadership team who are the employed staff and a number of unpaid lay circuit stewards.
The trustees who served during the year were:
M Lumb L Wright Rev. L Broadhead D Styles Rev. J Barrass Rev. J Archer-Siddall P Drabble J Hampshire E Archer-Siddall D Ryan A Holmes M Collinson R Lindley R Rutherford R Hudson J Shore M Moran B Jones R Hambrey I White D Schofield G Hudson J Ollivant S Winstanley W Cutts Rev. B Savage A Wright J Kilner J Cook J Hindley M Lumb Rev. J Park A Andrews V Loveday E Wainwright L Hill M Smith P Trehern C Taylor C Houghton P Na A Wright R Cauwood W Ashton J Hood R Coward S Tanser S Hannam F Wilson B Millington I Maw K Hester D Guy M Mellars
The trustees' r eport was approved by the Board of Trustees.
David Ryan Treasurer Dated: 27 April 2021
- 2 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
I report to the trustees on my examination of the financial statements of Rotherham and Dearne Valley Methodist Circuit (the charity) for the year ended 31 August 2020.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do 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 financial statements to be reached.
Natalie Bracey Hart Shaw LLP
Chartered Accountants Europa Link Sheffield Business Park Sheffield S9 1XU
Dated: .........................
- 3 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income and endowments from: Charitable activities 3 189,814 299,495 Other trading activities 4 46,901 - Investments 5 2,097 3,994 Other income 6 74,290 67,286 Total income 313,102 370,775 Expenditure on: Charitable activities 7 339,250 1,979 Contributions to DAF - 12,680 Total resources expended 339,250 14,659 Net (outgoing)/incoming resources before transfers (26,148) 356,116 Gross transfers between funds 97,627 (97,627) Net income/(expenditure) for the year/ Net movement in funds 71,479 258,489 Fund balances at 1 September 2019 1,266,219 331,970 Fund balances at 31 August 2020 1,337,698 590,459 |
Total 2020 £ 489,309 46,901 6,091 141,576 683,877 341,229 12,680 353,909 329,968 - 329,968 1,598,189 1,928,157 |
Total 2019 £ 235,734 66,625 6,188 8,093 316,640 392,100 18,813 410,913 (94,273) - (94,273) 1,692,462 1,598,189 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
BALANCE SHEET
AS AT 31 AUGUST 2020
| Notes Fixed assets Tangible assets 13 Current assets Debtors 14 Investments 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Income funds Restricted funds 17 Unrestricted funds |
2020 £ £ 728,975 3,134 8,200 1,223,840 1,235,174 (35,992) 1,199,182 1,928,157 590,459 1,337,698 1,928,157 |
2019 £ £ 848,975 4,379 15,800 808,186 828,365 (79,151) 749,214 1,598,189 331,970 1,266,219 1,598,189 |
|---|---|---|
The accounts were approved by the Trustees on 27 April 2021
David Ryan Treasurer
- 5 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
Charity information
Rotherham and Dearne Valley Methodist Circuit is a charity registered in England and Wales. The registered office is Central Methodist Church, Lodge Lane, Aston, Sheffield, S26 2BP.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's Deed of Union (1932) and Methodist Church Act (1976) , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by conference as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.5 Resources expended
Expenditure is recognised under the accruals basis. Specific expenditure on charitable activities is charged directly against the activity to which it relates as c osts of raising funds or ex penditure on charitable activities .
S upport and governance costs are charged against the charitable activity they support the most .
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Held at residual value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 7 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 8 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
3 Charitable activities
| Church collections Capital revenue Analysis by fund Unrestricted funds Restricted funds Other trading activities Letting and licensing arrangements Other income relates solely to unrestricted funds. |
2020 £ 189,814 299,495 489,309 189,814 299,495 489,309 2020 £ 46,901 |
2019 £ 235,734 - 235,734 235,734 - 235,734 2019 £ 66,625 |
|---|---|---|
4 Other trading activities
5 Investments
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2020 | 2020 | 2020 | 2019 | 2019 | 2019 | |
| £ | £ | £ | £ | £ | £ | |
| Interest receivable | 2,097 | 3,994 | 6,091 | 2,042 | 4,146 | 6,188 |
- 9 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
6 Other income
| Unrestricted Restricted funds funds 2020 2020 £ £ Net gain on disposal of tangible fixed assets - 67,286 City centre resource 61,079 - Church use for events 13,211 - 74,290 67,286 For the year ended 31 August 2019 7,527 566 Charitable activities Staff costs Methodist Church Fund Telephone & travel Insurance & utilities Maintenance on manses Expenditure on other properties Donations Other expenditure Grant funding of activities ( see note 8) - restricted funds Share of support costs (see note 10) |
Total 2020 £ 67,286 61,079 13,211 141,576 2020 £ 171,918 58,808 15,685 10,929 11,257 40,428 1,109 26,108 336,242 1,979 3,008 341,229 |
Total 2019 £ - - 8,093 8,093 8,093 2019 £ 157,916 58,808 17,384 10,435 17,754 33,797 1,003 28,193 325,290 65,826 984 392,100 |
|---|---|---|
7 Charitable activities
8 Grants payable
During the year no grants (2019 - four grants totalling £65,826) were made to local churches to assist them in funding building projects.
9 Other restricted expenditure
Expenditure of £1,979 (2019 - £nil) which related to both the Circuit Advance Fund and Ward Legacy Fund.
- 10 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
10 Support costs
| Support costs Governance costs £ £ Administration costs 3,008 - 3,008 - Analysed between Charitable activities 3,008 - |
2020 £ 3,008 3,008 3,008 |
2019 Basis of allocation £ 984 Charitable activities 984 984 |
|---|---|---|
11 Trustees
8 Trustees have been paid remuneration and had received other benefits from an employment with the Rotherham and Dearne Valley Circuit. The Trustees only received remuneration in respect of services they provide undertaking their roles under their contract of employment, and not in respect of their role as Trustees. The value of Trustees' remuneration and other benefits was as follows:
| 2020 | ||
|---|---|---|
| £ | ||
| E Archer-Siddall | Remuneration | 24,672 |
| Pension contributions paid | 1,357 | |
| A Holmes | Remuneration | 7,062 |
| Pension contributions paid | 424 | |
| W Ashton | Remuneration | 20,016 |
| Pension contributions paid | 1,101 | |
| D Ryan | Remuneration | 6,672 |
| Pension contributions paid | 367 | |
| J Hood | Remuneration | 20,560 |
| Pension contributions paid | 740 | |
| Rev J Archer-Siddall | Remuneration | 31,352 |
| Pension contributions paid | - | |
| Rev J Park | Remuneration | 8,967 |
| Pension contributions paid | 2,368 | |
| Rev B Savage | Remuneration | 5,860 |
| Pension contributions paid | 1,452 |
During the period, 13 Trustees received reimbursement of expenses.
- 11 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
12 Employees
Number of employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2020 Number 10 2020 £ 147,406 9,121 15,391 171,918 |
2019 Number 10 2019 £ 129,646 8,954 19,316 157,916 |
|---|---|---|
There were no employees who received total employee benefits (excluding employer pension contributions) of more than £60,000.
13 Tangible fixed assets
| 13 | Tangible fixed assets | |
|---|---|---|
| Freehold land and | ||
| buildings | ||
| £ | ||
| Cost | ||
| At 1 September 2019 | 848,975 | |
| Disposals | (120,000) | |
| At 31 August 2020 | 728,975 | |
| Carrying amount | ||
| At 31 August 2020 | 728,975 | |
| At 31 August 2019 | 848,975 | |
| 14 | Debtors | |
| 2020 2019 |
||
| Amounts falling due within one year: | £ £ |
|
| Prepayments and accrued income | 3,134 4,379 |
- 12 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
15 Current asset investments
| Loans Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
2020 £ 8,200 2020 £ 32,984 3,008 35,992 |
2019 £ 15,800 2019 £ 78,167 984 79,151 |
|---|---|---|
16 Creditors: amounts falling due within one year
17 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | in funds | |||
|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | |
| 1 September | resources | expended | 31 August | |
| 2019 | 2020 | |||
| £ | £ | £ | £ | |
| Circuit Advance Fund | 285,731 | 656,178 | (396,873) | 545,036 |
| Ward Legacy c/o Eastwood | 46,239 | 914 | (1,730) | 45,423 |
| 331,970 | 657,092 | (398,603) | 590,459 | |
| The Circuit Advance Fund holds the capital receipts from the sale of | properties. | |||
| The Ward L egacy is a trust fund which was | set up to benefit a number of churches and circuits in the | |||
| Sheffield District. Due to restrictions in the legacy only interest can be drawn from | the fund each | year. | ||
| Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total | Total | |
| fund | fund | |||
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Fund balances at 31 August 2020 are | ||||
| represented by: | ||||
| Tangible assets | 728,975 | - | 728,975 | 848,975 |
| Current assets/(liabilities) | 608,723 | 590,459 | 1,199,182 | 749,214 |
| 1,337,698 | 590,459 | 1,928,157 | 1,598,189 |
18 Analysis of net assets between funds
- 13 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
19 Related party transactions
There were no disclosable related party transactions during the year (2019 - none).
- 14 -
Charity Registration No. 1132844
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
LEGAL AND ADMINISTRATIVE INFORMATION
| Ministers | Rev J Archer Siddall |
|---|---|
| Rev B Savage | |
| Rev J Park | |
| Layworkers | Pastor - W Ashton |
| Pastor - E Archer Siddall | |
| Administrator - A Holmes | |
| Governance Officer - D Ryan | |
| Lay Visitor - K Dunn | |
| Lay Visitor - E Whiteoak (appointed 1 April 2020) | |
| Evangelism Enabler - D Miller (resigned 30 November 2019) | |
| Circuit stewards | D Ryan |
| A Andrews (resigned 16 September 2019) | |
| J Lovell (resigned 16 September 2019) | |
| S Mills (resigned 16 September 2019) | |
| M Rhodes (resigned 16 September 2019) | |
| E Wainwright | |
| J Shore (appointed 16 September 2019) | |
| Treasurer | D Ryan |
| Charity number | 1132844 |
| Registered office | Central Methodist Church |
| Lodge Lane | |
| Aston | |
| Sheffield | |
| S26 2BP | |
| Accountants | Hart Shaw LLP |
| Europa Link | |
| Sheffield Business Park | |
| Sheffield | |
| S9 1XU |
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 14 |
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2020
The trustees present their report and financial statements for the year ended 31 August 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Deed of Union (1932) and Methodist Church Act (1976) , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
Charity objective is to act as a Resource provider within the area around Rotherham for the Methodist Church .
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 the 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.
How the charity achieves its aims:
-
The organisation 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 the local university and other institutions.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
The charity is the controlling body of the Methodist Church in the Rotherham and Dearne Valley area. We seek to promote the Christian Gospel of Hope through the life and teachings of Jesus Christ as contained in the Holy Bible. We do this in many ways but mainly through the operation of 13 Churches in this area. The beneficiaries of our work are many and through discussion at our circuit meeting we constantly seek new ways of spreading the Gospel.
Financial review
The charity is financially solvent and currently holds reserves in excess of Methodist requirements as laid down by conference. We are looking at how our reserves can be deployed in the future including a possible increase in ministry personnel which would require funding for a minimum of 5 years.
The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
As outlined in our financial review the current level of staffing is one of our main concerns at present.
- 1 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
Structure, governance and management
The Rotherham And Dearne Valley Circuit is under the control of the circuit meeting in this area. The actions are outlined and discussed at our quarterly meeting. Reports are presented on a regular basis to explain our current situation.
All financial documents are supplied to the Sheffield District which itself oversees a number of circuits in this area. The day to day running of the circuit is overseen by the Circuit leadership team who are the employed staff and a number of unpaid lay circuit stewards.
The trustees who served during the year were:
M Lumb L Wright Rev. L Broadhead D Styles Rev. J Barrass Rev. J Archer-Siddall P Drabble J Hampshire E Archer-Siddall D Ryan A Holmes M Collinson R Lindley R Rutherford R Hudson J Shore M Moran B Jones R Hambrey I White D Schofield G Hudson J Ollivant S Winstanley W Cutts Rev. B Savage A Wright J Kilner J Cook J Hindley M Lumb Rev. J Park A Andrews V Loveday E Wainwright L Hill M Smith P Trehern C Taylor C Houghton P Na A Wright R Cauwood W Ashton J Hood R Coward S Tanser S Hannam F Wilson B Millington I Maw K Hester D Guy M Mellars
The trustees' r eport was approved by the Board of Trustees.
David Ryan Treasurer Dated: 27 April 2021
- 2 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
I report to the trustees on my examination of the financial statements of Rotherham and Dearne Valley Methodist Circuit (the charity) for the year ended 31 August 2020.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements do 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 financial statements to be reached.
Natalie Bracey Hart Shaw LLP
Chartered Accountants Europa Link Sheffield Business Park Sheffield S9 1XU
Dated: .........................
- 3 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020
| Unrestricted Restricted funds funds 2020 2020 Notes £ £ Income and endowments from: Charitable activities 3 189,814 299,495 Other trading activities 4 46,901 - Investments 5 2,097 3,994 Other income 6 74,290 67,286 Total income 313,102 370,775 Expenditure on: Charitable activities 7 339,250 1,979 Contributions to DAF - 12,680 Total resources expended 339,250 14,659 Net (outgoing)/incoming resources before transfers (26,148) 356,116 Gross transfers between funds 97,627 (97,627) Net income/(expenditure) for the year/ Net movement in funds 71,479 258,489 Fund balances at 1 September 2019 1,266,219 331,970 Fund balances at 31 August 2020 1,337,698 590,459 |
Total 2020 £ 489,309 46,901 6,091 141,576 683,877 341,229 12,680 353,909 329,968 - 329,968 1,598,189 1,928,157 |
Total 2019 £ 235,734 66,625 6,188 8,093 316,640 392,100 18,813 410,913 (94,273) - (94,273) 1,692,462 1,598,189 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
BALANCE SHEET
AS AT 31 AUGUST 2020
| Notes Fixed assets Tangible assets 13 Current assets Debtors 14 Investments 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Income funds Restricted funds 17 Unrestricted funds |
2020 £ £ 728,975 3,134 8,200 1,223,840 1,235,174 (35,992) 1,199,182 1,928,157 590,459 1,337,698 1,928,157 |
2019 £ £ 848,975 4,379 15,800 808,186 828,365 (79,151) 749,214 1,598,189 331,970 1,266,219 1,598,189 |
|---|---|---|
The accounts were approved by the Trustees on 27 April 2021
David Ryan Treasurer
- 5 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
Charity information
Rotherham and Dearne Valley Methodist Circuit is a charity registered in England and Wales. The registered office is Central Methodist Church, Lodge Lane, Aston, Sheffield, S26 2BP.
1.1 Accounting convention
The accounts have been prepared in accordance with the charity's Deed of Union (1932) and Methodist Church Act (1976) , the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by conference as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
1.4 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 6 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
1.5 Resources expended
Expenditure is recognised under the accruals basis. Specific expenditure on charitable activities is charged directly against the activity to which it relates as c osts of raising funds or ex penditure on charitable activities .
S upport and governance costs are charged against the charitable activity they support the most .
Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Held at residual value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 7 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 8 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
3 Charitable activities
| Church collections Capital revenue Analysis by fund Unrestricted funds Restricted funds Other trading activities Letting and licensing arrangements Other income relates solely to unrestricted funds. |
2020 £ 189,814 299,495 489,309 189,814 299,495 489,309 2020 £ 46,901 |
2019 £ 235,734 - 235,734 235,734 - 235,734 2019 £ 66,625 |
|---|---|---|
4 Other trading activities
5 Investments
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2020 | 2020 | 2020 | 2019 | 2019 | 2019 | |
| £ | £ | £ | £ | £ | £ | |
| Interest receivable | 2,097 | 3,994 | 6,091 | 2,042 | 4,146 | 6,188 |
- 9 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
6 Other income
| Unrestricted Restricted funds funds 2020 2020 £ £ Net gain on disposal of tangible fixed assets - 67,286 City centre resource 61,079 - Church use for events 13,211 - 74,290 67,286 For the year ended 31 August 2019 7,527 566 Charitable activities Staff costs Methodist Church Fund Telephone & travel Insurance & utilities Maintenance on manses Expenditure on other properties Donations Other expenditure Grant funding of activities ( see note 8) - restricted funds Share of support costs (see note 10) |
Total 2020 £ 67,286 61,079 13,211 141,576 2020 £ 171,918 58,808 15,685 10,929 11,257 40,428 1,109 26,108 336,242 1,979 3,008 341,229 |
Total 2019 £ - - 8,093 8,093 8,093 2019 £ 157,916 58,808 17,384 10,435 17,754 33,797 1,003 28,193 325,290 65,826 984 392,100 |
|---|---|---|
7 Charitable activities
8 Grants payable
During the year no grants (2019 - four grants totalling £65,826) were made to local churches to assist them in funding building projects.
9 Other restricted expenditure
Expenditure of £1,979 (2019 - £nil) which related to both the Circuit Advance Fund and Ward Legacy Fund.
- 10 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
10 Support costs
| Support costs Governance costs £ £ Administration costs 3,008 - 3,008 - Analysed between Charitable activities 3,008 - |
2020 £ 3,008 3,008 3,008 |
2019 Basis of allocation £ 984 Charitable activities 984 984 |
|---|---|---|
11 Trustees
8 Trustees have been paid remuneration and had received other benefits from an employment with the Rotherham and Dearne Valley Circuit. The Trustees only received remuneration in respect of services they provide undertaking their roles under their contract of employment, and not in respect of their role as Trustees. The value of Trustees' remuneration and other benefits was as follows:
| 2020 | ||
|---|---|---|
| £ | ||
| E Archer-Siddall | Remuneration | 24,672 |
| Pension contributions paid | 1,357 | |
| A Holmes | Remuneration | 7,062 |
| Pension contributions paid | 424 | |
| W Ashton | Remuneration | 20,016 |
| Pension contributions paid | 1,101 | |
| D Ryan | Remuneration | 6,672 |
| Pension contributions paid | 367 | |
| J Hood | Remuneration | 20,560 |
| Pension contributions paid | 740 | |
| Rev J Archer-Siddall | Remuneration | 31,352 |
| Pension contributions paid | - | |
| Rev J Park | Remuneration | 8,967 |
| Pension contributions paid | 2,368 | |
| Rev B Savage | Remuneration | 5,860 |
| Pension contributions paid | 1,452 |
During the period, 13 Trustees received reimbursement of expenses.
- 11 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
12 Employees
Number of employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2020 Number 10 2020 £ 147,406 9,121 15,391 171,918 |
2019 Number 10 2019 £ 129,646 8,954 19,316 157,916 |
|---|---|---|
There were no employees who received total employee benefits (excluding employer pension contributions) of more than £60,000.
13 Tangible fixed assets
| 13 | Tangible fixed assets | |
|---|---|---|
| Freehold land and | ||
| buildings | ||
| £ | ||
| Cost | ||
| At 1 September 2019 | 848,975 | |
| Disposals | (120,000) | |
| At 31 August 2020 | 728,975 | |
| Carrying amount | ||
| At 31 August 2020 | 728,975 | |
| At 31 August 2019 | 848,975 | |
| 14 | Debtors | |
| 2020 2019 |
||
| Amounts falling due within one year: | £ £ |
|
| Prepayments and accrued income | 3,134 4,379 |
- 12 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
15 Current asset investments
| Loans Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
2020 £ 8,200 2020 £ 32,984 3,008 35,992 |
2019 £ 15,800 2019 £ 78,167 984 79,151 |
|---|---|---|
16 Creditors: amounts falling due within one year
17 Restricted funds
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
| Movement | in funds | |||
|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | |
| 1 September | resources | expended | 31 August | |
| 2019 | 2020 | |||
| £ | £ | £ | £ | |
| Circuit Advance Fund | 285,731 | 656,178 | (396,873) | 545,036 |
| Ward Legacy c/o Eastwood | 46,239 | 914 | (1,730) | 45,423 |
| 331,970 | 657,092 | (398,603) | 590,459 | |
| The Circuit Advance Fund holds the capital receipts from the sale of | properties. | |||
| The Ward L egacy is a trust fund which was | set up to benefit a number of churches and circuits in the | |||
| Sheffield District. Due to restrictions in the legacy only interest can be drawn from | the fund each | year. | ||
| Analysis of net assets between funds | ||||
| Unrestricted | Restricted | Total | Total | |
| fund | fund | |||
| 2020 | 2020 | 2020 | 2019 | |
| £ | £ | £ | £ | |
| Fund balances at 31 August 2020 are | ||||
| represented by: | ||||
| Tangible assets | 728,975 | - | 728,975 | 848,975 |
| Current assets/(liabilities) | 608,723 | 590,459 | 1,199,182 | 749,214 |
| 1,337,698 | 590,459 | 1,928,157 | 1,598,189 |
18 Analysis of net assets between funds
- 13 -
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020
19 Related party transactions
There were no disclosable related party transactions during the year (2019 - none).
- 14 -