**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:
- 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 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.
- 1 -
## **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
- 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 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:
- 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 FCA Hart Shaw LLP
Chartered Accountants Europa Link Sheffield Business Park Sheffield S9 1XU
Dated: 25 March 2022
- 3 -
## **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.
- 4 -
## **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**
- 5 -
**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.
- 6 -
## **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.
- 7 -
**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.
- 8 -
## **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|
- 9 -
## **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.
- 10 -
## **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|
|---|---|---|
- 11 -
## **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.
- 12 -
## **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|
- 13 -
## **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|
|---|---|---|
- 14 -
## **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.
- 15 -
## **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) .
- 16 -