## **Trustees' Annual Report for the period**
Period start date Period end date Day Year Day Month Year 1 Septembe 2021 31 August 2022 r **To**
**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**
**----- Start of picture text -----**
Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee
whole year
(if any)
Joanne Archer- Superintendent
1
Siddall
2 Jenny Park
3 Wayne Ashton
5 Lynn Broadhead
6 Joyce Barrass
7 Dick Styles
8 Jonathan Hood
Eleanor
9
Wainwright
10 David Ryan
11 Anne Holmes
12 Sandra Tanser
13 Roger Lindley
14 Janet Hampshire
15 Robert Hambrey
16 Jane Shore
17 David Guy
18 Ian Maw
19 Rona Hudson
21 Michael Lumb
22 Mary Lumb
23 Victoria Loveday
24 Margaret Moran
25 Judith Olllivant
**----- End of picture text -----**
**TAR**
2020-2021
1
**----- Start of picture text -----**
26 Steve Hannam
27 Joyce Kilner
32 Chris Houghton
33 Clive Taylor
34 Pat Na
35 Irene White
3 Anne Wright
8
Marjorie
39
Collinson
40 Anita Andrews
41 Pam Trehern
42 Peter Drabble
43 Julia Hindley
44 Graham Hudson
45 Kay Hester
46 Fiona Wilson
47 David Schofield
48 Bill Millington
49 Liz Hill
50 Margaret Smith
51 John Cook
52 Amy Wright
Edward Archer
53
Siddall
54 Ron Cauwood
56 Muriel Mellars
57 Gill Styles
58
59
60
61
62
63
64
65
66
67
**----- End of picture text -----**
## **Names and addresses of advisers (Optional information)**
**Type of adviser Name Address**
**Name of chief executive or names of senior staff members (Optional information)**
**TAR**
2
2020-2021
Rev Joanne Archer- Siddall Rev Jenny Park
## **Section B Structure, governance and management**
## **Description of the charity’s trusts**
Type of governing document
Deed of Union (1932) AND METHODIST Church Act (1976)
- (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)**
You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
The Circuit works in partnership with other Christian Churches and a number of Christian charitable organisations:
High St Centre, Rawmarsh (5 members of board of trustees)
- Community Education Connection Ltd.
Methodist Homes for the Aged
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
## **Section C Objectives and activities**
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
**TAR**
3
2020-2021
The Circuit produced a quarterly preaching plan to ensure regular acts of worship take place at each of the 10 Methodist Churches and the 1 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 10 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 10 churches has a variety of public services that it offers, across all the age ranges including, providing rooms for community use, Mums and Tots groups, Playgroups, Youth Groups, support for Youth Uniformed Organisations, including Scouting and Guiding, Boys Brigade, Girls Brigade and a range of activities for adults and the elderly including Memory Cafes and Senior Youth Clubs Through High St Centre in Rawmarsh we provide services on behalf of Rotherham Metropolitan Borough Council 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 in schools in Rotherham through a number of the churches connections with their local schools. This includes assemblies, Prayer Spaces, Godly Play and Church visits. A number of other schools are supplied assemblies from the ‘Open the Book’ scheme.
The Circuit is directly involved and support the following ministries and projects in its area in partnership with other Christian Groups.
The charity Lighthouse Homes which offers accommodation for homeless men & women.
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 across the Rotherham Geographical area.
We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.
## **Additional details of objectives and activities (Optional information)**
**TAR**
2020-2021
4
You **may choose** to include further statements, where relevant, about:
- policy on grant making;
- policy programme related investment;
- contribution made by volunteers.
Section D Achievements and performance
**TAR**
2020-2021
5
Section D Achievements and performance
## **Summary of the main achievements of the charity during the year**
## Mission
Schools work is being developed further with active involvement across the borough. This includes assemblies, ‘Open the Book’ story time and Godly Play and prayer spaces.
Trinity Hall continues to function as a sustainable Community Centre, with provision with office space upstairs. The downstairs being used by Broad Horizons which provides care for adults with learning and physical difficulties.
Holiday Clubs continue at churches across the circuit.
Memory cafes are being run at Wickersley and St. John’s.
Rawmarsh has renovated a new entrance and meeting rooms which are used by the community and NHS.
A new entrance area is being planned at Broom
Family Fun Church has been established at Central and Broom and the
Little Boat Club for under 5’s has at Central, Broom and St John’s.
Whiston is working hard with the Parish Council to offer additional support for community events
## **Section E Financial review**
**TAR**
6
2020-2021
## **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 five Lay Workers (from 1 September 2023) 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;
## **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)** Rev Jennifer Park **Position (eg Secretary,** Chair and Acting Secretary **Chair, etc)** Superintendent **Date** 27th June 2023
**TAR**
2020-2021
7
**Charity registration number 1132844**
**ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2022**
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Ministers**|Rev J Archer Siddall (resigned 31 August 2022)|
|---|---|
||Rev J Park|
|**Layworkers**|Pastor - W Ashton (resigned 31 December 2021)|
||Pastor - E Archer Siddall|
||Governance Officer - D Ryan|
||Lay Visitor - K Dunn|
||Lay Visitor - E Whiteoak|
||Evangelism Enabler - J Hood (resigned 24 April 2022)|
||Childrens worker - G Perkins (appointed 1 July 2022)|
|**Circuit stewards**|D Ryan|
||E Wainwright|
||J Shore (resigned 14 March 2022)|
||A Holmes|
||G Hudson (appointed 14 March 2022)|
||V Loveday (appointed 14 March 2022)|
||J Hampshire (appointed 20 June 2022)|
||A Andrews (appointed 20 June 2022)|
|**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 2022**_
The trustees present their annual report and financial statements for the year ended 31 August 2022.
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 11 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. Two new ministers have been appointed and they start 1 September 2023 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 2022**_
## **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 (ceased 14 March 2022) J Ollivant A Andrews R Hambrey J Cook L Hill G Hudson Rev. J Park C Taylor W Cutts (resigned 20 June 2022) E Wainwright J Hood (resigned 24 April 2022) J Kilner P Trehern S Hannam M Lumb P Na K Dunn V Loveday W Ashton (resigned 31 December 2021) 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 (resigned 31 August 2022) 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' report was approved by the Board of Trustees.
## **David Ryan**
Treasurer
17 February 2023
- 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 2022.
## **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**
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: 1 March 2023
- 3 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Charitable activities
**3**
175,175
-
Other trading activities
**4**
34,560
-
Investments
**5**
1,676
3,887
Other income
**6**
2,236
-
**Total income**
213,647
3,887
**Expenditure on:**
Charitable activities
**7**
338,495
11,366
Contributions to DAF
-
33,662
Other expenditure
**12**
-
5,218
**Total resources expended**
338,495
50,246
Net gains/(losses) on investments
**13**
-
(3,377)
**Net outgoing resources before transfers**
(124,848)
(49,736)
Gross transfers between funds
(113,848)
113,848
**Net movement in funds**
(238,696)
64,112
Fund balances at 1 September 2021
1,262,938
619,247
**Fund balances at 31 August 2022**
1,024,242
683,359|**Total**
**2022**
**£**
175,175
34,560
5,563
2,236
217,534
349,861
33,662
5,218
388,741
(3,377)
(174,584)
-
(174,584)
1,882,185
1,707,601|**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|
|---|---|---|
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 2022**_
|**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|**2022**
**£**
**£**
438,975
50,383
489,358
962
-
1,262,529
1,263,491
(45,248)
1,218,243
1,707,601
683,359
1,024,242
1,707,601|**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|**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|
|---|---|---|---|
||||672,736
1,209,449|
||||1,882,185|
||||619,247
1,262,938|
||||1,882,185|
The accounts were approved by the Trustees on 17 February 2023
David Ryan **Treasurer**
- 5 -
**ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **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 financial statements have been prepared in accordance with the charity's Deed of Union (1932) and Methodist Church Act (1976), the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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)" (effective 1 January 2019). 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 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 amounts 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 2022**_
## **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 costs of raising funds or expenditure on charitable activities.
Support 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 2022**_
## **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 payments 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 2022**_
## **3 Charitable activities**
|**2022**
**£**
Church collections
175,175
**4**
**Other trading activities**
**2022**
**£**
Letting and licensing arrangements
34,560
Other income relates solely to unrestricted funds.
**5**
**Investments**
**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**funds**
**2022**
**2022**
**2022**
**2021**
**2021**
**£**
**£**
**£**
**£**
**£**
Interest receivable
1,676
3,887
5,563
561
2,362|**2021**
**£**
142,231|
|---|---|
||**2021**
**£**
53,861|
||**Total**
**2021**
**£**
2,923|
- 9 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **6 Other income**
|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2022**
**2022**
**2022**
**£**
**£**
**£**
Net gain on disposal of tangible fixed
assets
-
-
-
Church use for events
2,236
-
2,236
Freedom2Serve
-
-
-
2,236
-
2,236
**Charitable activities**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Staff costs
143,195
9,600
Methodist Church Fund
58,806
-
Telephone & travel
12,185
-
Insurance & utilities
14,119
-
Maintenance on manses
2,159
-
Expenditure on other properties
73,170
-
Donations
2,651
-
Other expenditure
28,278
-
334,563
9,600
Grant funding of activities (see note 8)
-
-
Share of support costs (see note 9)
5,698
-
340,261
9,600|**Total**
**2022**
**£**
152,795
58,806
12,185
14,119
2,159
73,170
2,651
28,278
344,163
-
5,698
349,861|**Total**
**2021**
**£**
69,939
750
11,251|
|---|---|---|
|||81,940|
|||**Total**
**2021**
**£**
146,592
58,808
12,500
13,960
1,949
19,089
800
17,055|
|||270,753
28,976
3,408|
|||303,137|
**7 Charitable activities**
## **8 Grants payable**
During the year no grants (2021 - £27,796) were 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 2022**_
## **9 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Administration
costs
5,698
-
5,698
-
Analysed between
Charitable
activities
5,698
-|**2022**
**£**
5,698
5,698
5,698|**2021**
**Basis of allocation**
**£**
3,408
Charitable activities
3,408
3,408|
|---|---|---|
## **10 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:
|||**2022**|**2021**|
|---|---|---|---|
|||**£**|**£**|
|E Archer-Siddall|Remuneration|26,560|25,380|
||Pension contributions paid|1,593|1,522|
|W Ashton|Remuneration|6,940|20,580|
||Pension contributions paid|416|1,235|
|D Ryan|Remuneration|11,488|10,637|
||Pension contributions paid|689|638|
|J Hood|Remuneration|17,110|25,380|
||Pension contributions paid|1,026|1,522|
|Rev J Archer-Siddall|Remuneration|26,975|28,273|
||Pension contributions paid|6,398|6,873|
|K Dunn|Remuneration|5,568|5,460|
||Pension contributions paid|-|-|
During the period, 8 (2021: 10) Trustees received reimbursement of expenses.
- 11 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **11 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|**2022**
**Number**
8
**2022**
**£**
109,076
8,551
35,168
152,795|**2021**
**Number**
8|
|---|---|---|
|||**2021**
**£**
124,993
9,814
11,785|
|||146,592|
There were no employees who received total employee benefits (excluding employer pension contributions) of more than £60,000.
## **12 Other expenditure**
|Net loss on disposal of tangible fixed assets
The loss was made from the selling of a Manse.|**2022**
**£**
5,218
5,218|**2021**
**£**
-|
|---|---|---|
|||-|
||||
## **13 Net gains/(losses) on investments**
||**Restricted**|Restricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Revaluation of investments|(3,377)|8,338|
- 12 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|**14**|**Tangible fixed assets**||
|---|---|---|
|||**Freehold land and**|
|||**buildings**|
|||**£**|
||**Cost**||
||At 1 September 2021|618,975|
||Disposals|(180,000)|
||At 31 August 2022|438,975|
||**Carrying amount**||
||At 31 August 2022|438,975|
||At 31 August 2021|618,975|
|**15**|**Fixed asset investments**||
|||**Ward Bequest**|
|||**£**|
||**Cost or valuation**||
||At 1 September 2021|53,761|
||Valuation changes|(3,377)|
||At 31 August 2022|50,384|
||**Carrying amount**||
||At 31 August 2022|50,384|
||At 31 August 2021|53,761|
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|**2022**
**£**
962
**2022**
**£**
-|**2021**
**£**
3,171|
|---|---|---|
|||**2021**
**£**
3,000|
- 13 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|**18**
**Creditors: amounts falling due within one year**
Trade creditors
Accruals and deferred income|**2022**
**£**
308
44,940
45,248|**2021**
**£**
919
36,698|
|---|---|---|
|||37,617|
- 14 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **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**
**2020**
**r**
**£**
Circuit Advance
Fund
545,036
Ward Legacy c/o
Eastwood
45,423
590,459|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers Revaluations,**
**gains and**
**losses**
**Balance at**
**1 September**
**2021**
**r**
**£**
**£**
**£**
**£**
**£**
72,301
(61,104)
9,253
-
565,486
-
-
-
8,338
53,761
72,301
(61,104)
9,253
8,338
619,247|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers Revaluations,**
**gains and**
**losses**
**Balance at**
**31 August**
**2022**
**£**
**£**
**£**
**£**
**£**
2,582
(50,092)
115,000
-
632,976
1,305
(154)
(1,152)
(3,377)
50,383
3,887
(50,246)
113,848
(3,377)
683,359|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers Revaluations,**
**gains and**
**losses**
**Balance at**
**31 August**
**2022**
**£**
**£**
**£**
**£**
**£**
2,582
(50,092)
115,000
-
632,976
1,305
(154)
(1,152)
(3,377)
50,383
3,887
(50,246)
113,848
(3,377)
683,359|
|---|---|---|---|
||||683,359|
The Circuit Advance Fund holds the capital receipts from the sale of properties.
The Ward Legacy 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 2022**_
## **20 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
|**Unrestricted**
**fund**
**Restricted**
**fund**
**2022**
**2022**
**£**
**£**
Fund balances at 31 August 2022 are represented
by:
Tangible assets
438,975
-
Investments
-
50,383
Current assets/(liabilities)
585,267
632,976
1,024,242
683,359|**Total**
**2022**
**£**
438,975
50,383
1,218,243
1,707,601|**Total**
**2021**
**£**
618,975
53,761
1,209,449|
|||1,882,185|
## **21 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
- 16 -
## **Rotherham and Dearne Valley Methodist Circuit 1132844**
The auditor’s report is included on page 3 of the Annual Finance Report