Charity Registration No. 1132844
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2021
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
LEGAL AND ADMINISTRATIVE INFORMATION
Ministers Rev J Archer Siddall Rev B Savage (resigned 31 August 2020) Rev J Park Layworkers Pastor - W Ashton Pastor - E Archer Siddall Administrator - A Holmes (resigned 30 April 2020) Governance Officer - D Ryan Lay Visitor - K Dunn Lay Visitor - E Whiteoak Evangelism Enabler - J Hood (appointed 1 November 2019) Circuit stewards D Ryan E Wainwright J Shore A Holmes (appointed 1 May 2020) 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 - 16 |
ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2021
The trustees present their annual report and financial statements for the year ended 31 August 2021.
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:
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The organisation and resourcing of regular public acts of worship open to members of the church and non members alike.
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The teaching of Christianity through sermons, courses and small groups.
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The resourcing of pastoral work including visiting the sick and bereaved.
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Taking religious assemblies in local schools.
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Promotion of Christianity through the staging of events and services.
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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 charity are required to hold as reserves within the Methodist church 6 months annual expenditure as a minimum. There is no requirement to spend sums in excess of this.
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.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
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 J Hampshire M Collinson D Styles A Holmes R Hudson P Drabble R Rutherford D Schofield D Ryan M Moran A Wright R Lindley I White J Hindley J Shore J Ollivant A Andrews R Hambrey J Cook L Hill G Hudson Rev. J Park C Taylor W Cutts E Wainwright A Wright J Kilner P Trehern J Hood M Lumb P Na S Hannam V Loveday W Ashton K Dunn M Smith S Tanser C Houghton B Millington R Cauwood K Hester F Wilson M Mellars I Maw Rev. L Broadhead D Guy Rev. J Archer - Siddall Rev. J Barrass E Archer Siddall
All members of the circuit are appointed by the churches in the area of influence plus the paid staff employed by the circuit.
Transfers from restricted funds
With regard to the transfers from the restricted fund. The fund is only restricted in that application has to be made to the head office of the Methodist Church through the electronic consents system. If approval is given to a scheme then funds can be withdrawn. All monies into the restricted fund come from the sale of locally held Methodist land and property.
The trustees' r eport was approved by the Board of Trustees.
David Ryan
Treasurer
16 March 2022
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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 2021.
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 ICAEW , 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:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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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 FCA Hart Shaw LLP
Chartered Accountants Europa Link Sheffield Business Park Sheffield S9 1XU
Dated: 25 March 2022
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2021
| Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income and endowments from: Charitable activities 3 142,231 - Other trading activities 4 53,861 - Investments 5 561 2,362 Other income 6 12,001 69,939 Total income 208,654 72,301 Expenditure on: Charitable activities 7 274,161 28,976 Contributions to DAF - 32,128 Total resources expended 274,161 61,104 Net gains/(losses) on investments 13 - 8,338 Net (outgoing)/incoming resources before transfers (65,507) 19,535 Gross transfers between funds (9,253) 9,253 Net movement in funds (74,760) 28,788 Fund balances at 1 September 2020 1,337,698 590,459 Fund balances at 31 August 2021 1,262,938 619,247 |
Total 2021 £ 142,231 53,861 2,923 81,940 280,955 303,137 32,128 335,265 8,338 (45,972) - (45,972) 1,928,157 1,882,185 |
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 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
BALANCE SHEET
AS AT 31 AUGUST 2021
| Notes Fixed assets Tangible assets 14 Investments 15 Current assets Debtors 16 Investments 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Income funds Restricted funds 19 Unrestricted funds |
2021 £ £ 618,975 53,761 672,736 3,171 3,000 1,240,895 1,247,066 (37,617) 1,209,449 1,882,185 619,247 1,262,938 1,882,185 |
2020 £ £ 728,975 45,423 774,398 3,134 8,200 1,178,417 1,189,751 (35,992) 1,153,759 1,928,157 590,459 1,337,698 1,928,157 |
|---|---|---|
The accounts were approved by the Trustees on 16 March 2022
David Ryan Treasurer
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
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.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
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 the statement of financial activities .
1.7 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
1.8 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 ) .
1.9 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.
1.10 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.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
1 Accounting policies
(Continued)
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.
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.
1.11 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.
1.12 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.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
3 Charitable activities
| Church collections Capital revenue Analysis by fund Unrestricted funds Restricted funds 4 Other trading activities Letting and licensing arrangements Other income relates solely to unrestricted funds. |
2021 £ 142,231 - 142,231 142,231 - 2021 £ 53,861 |
2020 £ 189,814 299,495 489,309 189,814 299,495 2020 £ 46,901 |
|---|---|---|
5 Investments
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2021 | 2021 | 2021 | 2020 | 2020 | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| Interest receivable | 561 | 2,362 | 2,923 | 2,097 | 3,994 | 6,091 |
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
6 Other income
| Unrestricted Restricted funds funds 2021 2021 £ £ Net gain on disposal of tangible fixed assets - 69,939 City centre resource - - Church use for events 750 - Freedom2Serve 11,251 - 12,001 69,939 For the year ended 31 August 2020 74,290 67,286 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 2021 £ 69,939 - 750 11,251 81,940 2021 £ 146,592 58,808 12,500 13,960 1,949 19,089 800 17,055 270,753 28,976 3,408 303,137 |
Total 2020 £ 67,286 61,079 13,211 - 141,576 141,576 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 |
|---|---|---|
7 Charitable activities
8 Grants payable
During the year one grant totalling £27,796 (2020 - £nil) was made to local churches to assist them in funding building projects.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
9 Other restricted expenditure
Expenditure of £1,180 (2019 - £1,979) which related to both the Circuit Advance Fund and Ward Legacy Fund.
10 Support costs
| Support costs Governance costs £ £ Administration costs 3,408 - 3,408 - Analysed between Charitable activities 3,408 - |
2021 £ 3,408 3,408 3,408 |
2020 Basis of allocation £ 3,008 Charitable activities 3,008 3,008 |
|---|---|---|
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
11 Trustees
During the year, 6 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:
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| E Archer-Siddall | Remuneration | 25,380 | 24,672 |
| Pension contributions paid | 1,522 | 1,357 | |
| A Holmes | Remuneration | - | 7,062 |
| Pension contributions paid | - | 424 | |
| W Ashton | Remuneration | 20,580 | 20,016 |
| Pension contributions paid | 1,235 | 1,101 | |
| D Ryan | Remuneration | 10,637 | 6,672 |
| Pension contributions paid | 638 | 367 | |
| J Hood | Remuneration | 25,380 | 20,560 |
| Pension contributions paid | 1,522 | 740 | |
| Rev J Archer-Siddall | Remuneration | 28,273 | 31,352 |
| Pension contributions paid | 6,873 | - | |
| Rev J Park | Remuneration | - | 8,967 |
| Pension contributions paid | - | 2,368 | |
| Rev B Savage | Remuneration | - | 5,860 |
| Pension contributions paid | - | 1,452 | |
| K Dunn | Remuneration | 5,460 | - |
| Pension contributions paid | - | - |
During the period, 10 (2020: 13) Trustees received reimbursement of expenses.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
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 |
2021 Number 8 2021 £ 124,993 9,814 11,785 146,592 |
2020 Number 10 2020 £ 147,406 9,121 15,391 171,918 |
|---|---|---|
There were no employees who received total employee benefits (excluding employer pension contributions) of more than £60,000.
13 Net gains/(losses) on investments
| Restricted | Total | |
|---|---|---|
| funds | ||
| 2021 | 2020 | |
| £ | £ | |
| Revaluation of investments | 8,338 | - |
14 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Freehold land and | |
| buildings | |
| £ | |
| Cost | |
| At 1 September 2020 | 728,975 |
| Disposals | (110,000) |
| At 31 August 2021 | 618,975 |
| Carrying amount | |
| At 31 August 2021 | 618,975 |
| At 31 August 2020 | 728,975 |
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
15 Fixed asset investments
| Ward Bequest | |
|---|---|
| £ | |
| Cost or valuation | |
| At 1 September 2020 | 45,423 |
| Valuation changes | 8,338 |
| At 31 August 2021 | 53,761 |
| Carrying amount | |
| At 31 August 2021 | 53,761 |
| At 31 August 2020 | 45,423 |
Other investments were subject to valuation by The Trustees For Methodist Church Purposes . The investment is revalued on an annual basis.
| 16 Debtors Amounts falling due within one year: Prepayments and accrued income 17 Current asset investments Loans 18 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income |
2021 £ 3,171 2021 £ 3,000 2021 £ 34,209 3,408 37,617 |
2020 £ 3,134 2020 £ 8,200 2020 £ 32,984 3,008 35,992 |
|---|---|---|
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2021
19 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:
| Balance at 1 September 2019 £ Circuit Advance Fund 285,731 Ward Legacy c/o Eastwood 46,239 331,970 |
Movement in funds Incoming resources Resources expended £ £ 656,178 (396,873) 914 (1,730) 657,092 (398,603) |
Transfers Balance at 1 September 2020 £ £ - 545,036 - 45,423 - 590,459 |
Movement in funds Incoming resources Resources expended Transfers Revaluations, gains and losses Balance at 31 August 2021 £ £ £ £ £ 72,301 (61,104) 9,253 - 565,486 - - - 8,338 53,761 72,301 (61,104) 9,253 8,338 619,247 |
|---|---|---|---|
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.
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ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021
| 20 Analysis of net assets between funds Unrestricted fund Restricted fund 2021 2021 £ £ Fund balances at 31 August 2021 are represented by: Tangible assets 618,975 - Investments 53,761 - Current assets/(liabilities) 590,202 619,247 1,262,938 619,247 |
Total 2021 £ 618,975 53,761 1,209,449 1,882,185 |
Total 2020 £ 728,975 45,423 1,153,759 1,928,157 |
|---|---|---|
21 Related party transactions
There were no disclosable related party transactions during the year (2020 - none) .
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