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|Registered|Charity -Registration|number||1133104|
|---|---|---|---|---|
||Lincolnshire||Circuit No|17/6|
||Ministers||Rev Mark Sherman<br>(to 31.8.23)||
||||Rev Graham<br>Miles||
||||Deacon Pamela<br>Luxton||
||||Rev Margaret Asiedu<br>(from 1.9.23)||
|Circuit Stewards|||Miss Doreen<br>Horn||
||||Bryand Utteridge||
||||Mrs Lyn Bignell||
||||Mrs Tricia Johnson<br>(from 1.9.23)||
||||Mrs Anne May (from 1.9.23)||
|Circuit Treasurer|||Michael May (Finance Advisor)||





## 

## 

## 

|||Notes to|||Circuit Model||||
|---|---|---|---|---|---|---|---|---|
|||the|General|Fund|Trust|Restricted|Endowment|Total|
|||accounts|(Unrestricted)||(Unrestricted)|Funds|Funds|2022-23|
||||F|||||F|
|Income|||||||||
|1<br>Donations<br>and legacies||||0|0|0|0|0|
|2<br>Income from monetary<br>investments||||1,064|13,522|838|350|15,775|
|3<br>Income from investment|properties|||15,414|0|0|0|15,414|
|4<br>Assessments<br>on Churches|||157,575||0|0|0|157,575|
|5<br>Capital Receipts||||0|83,641|0|0|83,641|
|6<br>Grants received||||2,646|0|38,000|0|40,646|
|7<br>Other charitable<br>income||||3,710|0|0|0|3,710|
|8Total income|||180,409||97,163|38,838|350|316,760|
|Expenditure|||||||||
|9<br>Grants and donations||||1,000|17,642|0||18,642|
|10Salaries and associated|costs|||89,627|0|36,891||126,517|
|11 Property maintenance||||47,767|0|8,721||56,489|
|12Connexional<br>assessment|8|levy on sales||31,684|12,728|0||44,412|
|13District Assessment<br>8 Model||Trust levy||18,316|27,309|0||45,625|
|14Depreciation||||0|0|0||0|
|15Office expenses||||11,494|1,370|3,298||16,162|
|16Other outgoings||||6,387|0|2,070||8,457|
|17Total charitable<br>expenditure|||206,275||59,049|50,980||316,305|
|18Gains/(losses)<br>on monetary||investments||0|(519)|772|(442)|(189)|
|19Gains/(losses)<br>on investment||properties||0|0|0|0|0|
|20 Net income/(expenditure)|||(25,866)||37,595|(11,370)|(92)|267|
|21 Transfers<br>between<br>funds|||398,750||(404,306)|5,556|0|0|
|22 Other gains/(losses)||||0|0|0|0|0|
|23 Net movement<br>in funds|||372,884||(366,711)|(5,814)|(92)|267|
|24 Total funds brought<br>forward|||1,210,656||480,798|38,781|13,066|1,743,301|
|25Total funds carried forward|||1,583,540||114,087|32,966|12,974|1,743,568|





## 

## 

## 

|||Notes to|||Circuit Model||||
|---|---|---|---|---|---|---|---|---|
|||the|General|Fund|Trust|Restricted|Endowment|Total|
|||accounts|(Unrestricted)||(Unrestricted)|Funds|Funds|2021-22|
||||||||P|F|
|Income|||||||||
|1<br>Donations<br>and legacies||||0|0|0|0|0|
|2<br>Income from monetary<br>investments||||123|1,418|160|243|1,944|
|3<br>Income from investment|properties|||16,500|0|0|0|16,500|
|4 Assessments<br>on Churches|||165,770||0|0|0|165,770|
|5<br>Capital Receipts|||(250,000)||504,915|0|0|254,915|
|6<br>Grants received||||0|0|41,050|0|41,050|
|7<br>Other charitable<br>income||||37|0|0|0|37|
|8Total income|||(67,570)||506,333|41,210|243|480,216|
|Expenditure|||||||||
|9<br>Grants and donations||||0|4,336|0|0|4,336|
|10Salaries and associated|costs|||88,167|0|35,367|0|123,534|
|11 Property maintenance||||20,522|0|3,251|0|23,773|
|12Connexional<br>assessment|8|levy on sales||38,782|153,966|0|0|192,748|
|13District Assessment<br>8 Model||Trust levy||10,006|5,721|0|0|15,727|
|14Depreciation||||0|0|0|0|0|
|15Office expenses||||6,475|25,000|14,752|0|46,228|
|16Other outgoings||||5,158|0|2,532|0|7,690|
|17Total charitable<br>expenditure|||169,111||189,023|55,902|0|414,035|
|18Gains/(losses)<br>on monetary||investments||0|(945)|(434)|(698)|(2,078)|
|19Gains/(losses)<br>on investment||properties||0|0|0|0|0|
|20 Net income/(expenditure)|||(236,680)||316,365|(15,127)|(455)|64,103|
|21 Transfers<br>between<br>funds||||(5,978)|0|5,978|0|0|
|22 Other gains/(losses)||||0|0|0|0|0|
|23 Net movement<br>in funds|||(242,658)||316,365|(9,149)|(455)|64,103|
|24Total funds brought<br>forward|||1,453,314||164,433|47,929|13,522|1,679,199|
|25Total funds carried forward|||1,210,656||480,798|38,781|13,066|1,743,301|





## 

## 

|||||General Fund|Circuit Model|Restricted|Endowment|Totals 2023|
|---|---|---|---|---|---|---|---|---|
|||||(Unrestricted)|Trusts|Funds|Funds||
||||Notes to the||(Unrestricted)||||
||||Accounts||||||
|Fixed Assets|||||||||
|Circuit Properties||||1,558,306||||1,558,306|
|Investment<br>properties|||||||||
|Investments|||10||10,228|17,054|9,971|37,252|
||Total fixed|assets||1,558,306|10,228|17,054|9,971|1,595,559|
|Current Assets|||||||||
|Debtors||||10,606||||10,606|
|Loans by the Circuit|||||||||
|Trustee Investment<br>Fund at TMCP|||||103,859|20,088|3,004|126,951|
|Central Finance Board|Deposits|||13,044||-4,175||8,869|
|Cash at Bank and<br>in hand||||1,584||||1,584|
|Total current||assets||25,234|103,859|15,913|3,004|148,010|
|Current liabilities|||||||||
|Creditors (due<br>in under|1 year)||12||||||
|Grants payable<br>within 2021-22|||||||||
|Total|current liabilities||||||||
|Net current|assetslliabilities|||25,234|103,859|15,913|3,004|148,010|
|Total assets less|cunent liabilities|||1,583,540|114,087|32,966|12,974|1,743„568|
|Long term liabilities|||||||||
|(due after more than|one year)||||||||
|Grants payable after 2021-22|||||||||
|Loans to the Circuit|||||||||
||Net assets|||1,583,540|114,087|32,966|12,974|1,743,568|
|Funds ofthe Circuit|||||||||
|General<br>Fund (Unrestricted)||||1,583,540||||1,583,540|
|Circuit Model Trust Fund (Unrestricted)|||||114,087|||114,087|
|Total Unrestricted||Funds||||||1,697,627|
|Restricted<br>Funds||||||32,966||32,966|
|Endowment<br>Funds|||||||12,974|12,974|
||Total Funds|||1,583,540|114,087|32,966|12,974|1,743,568|





## 

## 

## 

||||General Fund|Circuit Model|Restricted|Endowment|Totals 2020|
|---|---|---|---|---|---|---|---|
||||(Unrestricted)|Trusts|Funds|Funds||
|||Notes to the||(Unrestricted)||||
|||Accounts||||||
|Fixed Assets||||||||
|Circuit Properties|||1,174,000||||1,174,000|
|Investment<br>properties||||||||
|Investments||10||10,747|16,282|10,413|37,441|
||Total fixed assets||1,174,000|10,747|16,282|10,413|1,211,441|
|Current Assets||||||||
|Debtors|||10,293||||10,293|
|Loans by the Circuit||||||||
|Trustee Investment<br>Fund at TMCP||||470,052|19,739|2,654|492,444|
|Central Finance Board|Deposits||24,545||2,760||27,305|
|Cash at Bank and<br>in hand|||1,818||||1,818|
|Total current assets|||36,656|470,052|22,499|2,654|531,860|
|Current liabilities||||||||
|Creditors (due in under|1 year)|12||||||
|Grants payable<br>within 2020-21||||||||
|Total|current liabilities|||||||
|Net current|assetslliabilities||36,656|470,052|22,499|2,654|531,860|
|Total assets less|current liabilities||1,210,656|480,798|38,781|13,066|1,743,301|
|Long term liabilities||||||||
|(due after more than|one year)|||||||
|Grants payable after 2020-21||||||||
|Loans to the Circuit||||||||
||Net assets||1,210,656|480,798|38,781|13,066|1,743,301|
|Funds ofthe Circuit||||||||
|General<br>Fund (Unrestricted)|||1,210,656||||1,210,656|
|Circuit Model Trust Fund (Unrestricted)||||480,798|||480,798|
|Total Unrestricted<br>Funds|||||||1,691,454|
|Restricted<br>Funds|||||38,781||38,781|
|Endowment<br>Funds||||||13,066|13,066|
||Total Funds||1,210,656|480,798|38,781|13,066|1,743,301|







||The financial statements<br>have been prepared<br>under the Charities Act 2011in accordance<br>with the|2014version of|2014version of||||
|---|---|---|---|---|---|---|
||Accounting<br>and Reporting<br>by Charities: Statement of Recommended<br>Practice (SORP) applicable<br>to|charities|preparing||their||
||accounts<br>in accordance<br>with the Financial<br>Reporting<br>Standard<br>for Smaller Entities applicable<br>in the|UK (effective from|||1||
||January 2015) —the Charities SORP (FRSSE) —in replacement<br>for the SORP's 2005 version specified|in its related 2008|||||
||Regulations<br>and in accordance<br>with the 'true and fair override'<br>provision<br>contained<br>therein.||||||
|2 Funds|||||||
||The funds held include General<br>Funds held for any purpose ofthe Circuit which are Unrestricted,<br>the Circuit||Model|Trust|||
||Fund which<br>has wide purposes<br>defined<br>in Standing<br>Orders and is categorised<br>as Unrestricted,<br>Restricted funds which||||are||
||held for a narrower<br>purpose<br>and are listed<br>in the final Note below and Endowment<br>funds which are also listed in that||||Note.||
||Any funds may be represented<br>by more than just cash.||||||
|3Accounting<br>policies|||||||
|Basis|||||||
||These accounts have been prepared<br>on the basis of historical cost, except that investments<br>are shown at their market||||value||
||at the end ofthe year, on the accruals basis to show a true and fair view ofthe Circuit's financial<br>position and activities.||||||
|Income Recognition|||||||
||Income is included<br>in the Statement of Financial Activities<br>(SOFA) when the Circuit becomes entitled to the||resources,||and||
||the trustees are reasonably<br>certain they will receive the resources; and the monetary<br>value can be measured<br>with|||sufficient|||
||reliability.||||||
|Resources|Expended||||||
||This is recognised<br>when<br>a liability<br>is incurred,<br>or a constructive<br>obligation<br>arises, that results<br>in the|payment|being||||
||unavoidable.<br>Liabilities are recognised<br>as soon as an outflow ofeconomic benefit is considered<br>more likely||than not under||||
||the legal or constructive<br>obligation<br>committing<br>the Circuit to pay out resources.||||||
|Grants|||||||
||Grants made by the Circuit from its own funds are recognised<br>in full at the time ofagreement<br>or when the Circuit accepts||||||
||that there is a legal or operational<br>obligation to make the payment.<br>When the grant<br>is recurrent<br>over more||than one year||||
||the balance payable<br>in future years<br>is treated as a provision for future commitments<br>in the Balance|Sheet against the|||||
||appropriate<br>fund, the provision<br>being released<br>in future years as instalments<br>are paid in accordance<br>with the originally||||||
||agreed terms.||||||
|VAT|||||||
||Since the Circuit is not VAT registered,<br>all input VAT is charged<br>with the expense to which<br>it refers.||||||
|Tangible fixed assets for use by the Circuit|||||||
||These are capitalised<br>iftheir anticipated<br>reliable<br>life is more than one year, and individually<br>cost at|least E2,000.|||||
||The freehold<br>properties<br>are shown<br>in the accounts at 2015deemed values or subsequent<br>purchase|cost, ofwhich||the land|||
||component<br>in the opinion ofthe Trustees<br>is E695,000. No depreciation<br>is provided<br>on any ofthe buildings||because the||||
||trustees consider their current<br>residual<br>fair value (on the assumption<br>that they had reached the end oftheir||useful|economic|||
||lives by the year-end) to be not less than its current value. Any depreciation<br>would not be material.|The properties||have|||
||been reviewed<br>for impairment.||||||
|Investment|Properties||||||
||Following the purchase<br>of a new manse, the Circuit now holds 3 manses and one disused<br>Church which are||surplus|to|||
||requirements.<br>One manse<br>is rented<br>by a Syrian refugee family and the disused<br>church<br>is occupied|by a charity offering|||||
||services to the local community.<br>One other manse<br>is also rented out to provide income to the Circuit and the third|||manse||is|
||on the market for sale. The four properties<br>are not held for their investment<br>potential<br>and are therefore<br>included|||in|||
||Freehold<br>Property,<br>with the disused church shown as Other Buildings<br>in Note 9. The rental income|is described<br>in the|||SOFA||
||as "income from Investment<br>Properties" as a means of highlighting<br>the materiality<br>ofthe income.||||||
|Investments|||||||
||Investments<br>are valued<br>in the balance sheet at market value at the year end.<br>Investment<br>income is included||in the|accounts|||
||when receivable<br>and any gains or losses on revaluation<br>at the year end are shown<br>in the SOFA.||||||
|Debtors and Prepayments|||||||
||Debtors relate to stipends for September<br>plus two amounts<br>due for costs expended.||||||
|Creditors|||||||
||There are no creditors||||||
|Impact ofAccounting<br>changes|||||||
||There are no Accounting<br>changes||||||





||||||||||||||East Lincolnshire|Circuit|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||Circuit|||||
|4.Investment<br>income|||||Unrestricted||||Model<br>Trust Fund|||Restricted|Endowment|Total|
|Year to 31stAugust 2023|||||||||||||||
|Central<br>Fina nce Board<br>TMCP<br>Other|||||||1,064||||13,522|838|350|1,064<br>14,710|
|Total|||||||1,064||||13,522|838|350|15,775|
|Year to 31stAugust 2022|||||||||||||||
|Central Finance Board<br>TMCP<br>Other||||||||123|||1,418|160|243|123<br>1,821|
|Total||||||||123|||1,418|||1,944|
|5.Capital Receipts||||||||||||This year|Last year||
|Barley Fields, Alford<br>Cost of Barley Fields<br>Alvingham<br>Sale of Investments||||Sale of <br>Sale of||surplus<br>Manse<br>closed chapel||||||83,641||f<br>504,915<br>(250,000)|
|||||||||||||83,841||254,915|
|6.Payment to Trustees|||||||||||||||
|With the exception ofStipends|paid to ministers,|||||no payments||||were made to trustees|||for additional||
|services provided to the Circuit|by agreement||||with the|||Circuit Meeting|||||||
|Number oftrustees<br>who were paid|||expenses|||||||||This year|Last year||
|Nature ofthe expenses|||||||||||||||
|Expense payments<br>primarily<br>relate|||to reimbursement||||for||travel||costs||||
|Total Amount<br>Paid||||||||||||13,354||6,682|
|7.Fees for examination<br>or audit|of||the accounts||||||||||||
|Independent<br>examiner's<br>or auditors'|||fees|for|reporting||||||||||
|on the accounts<br>Other fees (eg:advice, accountancy|||services)||paid|to|the|||||120||100|
|independent<br>examiner or auditor||||||||||||nil||nil|
|8.Paid employees<br>(including<br>Ministers)|||||||||||||||
|Staff costs paid during the year were:|||||||||||||||
|Gross wages, salaries and benefits<br>in kind<br>Employer's<br>National<br>insurance<br>Costs<br>Pension Costs<br>Total Staff Costs||||||||||||95,711<br>22,433<br>8,373<br>126,517||93,671<br>21,626<br>8,236<br>123,534|
|Average number ofstaff employed||during||the|year|were|||||||||





## 

|9.Tangible<br>Fixed|Assets||||||East Lincolnshire<br>C|East Lincolnshire<br>C|ircuit|
|---|---|---|---|---|---|---|---|---|---|
|Cost or valuation|||||||Year to 31stAugust||2023|
||||Residential|Land|Other Land|Manses|Other builidngs||Total|
||||||f|||f||
|Balance brought|forward|||475,000|120,000|534,000||45,000|1,174,000|
|Additions||||100,000||284,306|||384,306|
|Revaluations<br>(+/-)||||||||||
|Disposals (-)||||||||||
|Transfers*(x/-)||||||||||
|Balance carried forward||||575,000|120,000|818,306||45,000|1,558,306|
|Accumulated<br>depreciation||||||||||
|||~*Basis||||SLor RB|SLor RB|||
|||**Rate||||||||
|Balance brought|forward|||||||||
|Depreciation<br>charge for year(-)||||||||||
|Revaluations<br>(x/-)||||||||||
|Disposals (-)||||||||||
|Transfers* (x/-)||||||||||
|Balance carried forwards||||||||||
|Net book value||||||||||
|Brought forward||||475,000|120,000|534,000||45,000|1,174,000|
|Carried forward||||575,000|120,000|818,306||45,000|1,558,306|
|Cost or valuation|||||||Year to|31stAugust|2022|
||||Residential|Land|Other Land|Manses|Other|builidngs|Total|
|||||||||f||
|Balance brought|forward|||570,000|120,000|689,000||45,000|1,424,000|
|Additions||||||||||
|Revaluations<br>(+/-)||||||||||
|Disposals (-)||||-95,000||-155,000|||-250,000|
|Transfers*(x/-)||||||||||
|Balance carried|forward|||475,000|120,000|534,000||45,000|1,174,000|
|Accumulated<br>depreciation||||||||||
|||~*Basis||||SLor RB|SLor RB|||
|||**Rate||||||||
|Balance brought|forward|||||||||
|Depreciation<br>charge for||year(-)||||||||
|Revaluations<br>(x/-)||||||||||
|Disposals (-)||||||||||
|Transfers*<br>(x/-)||||||||||
|Balance carried|forwards|||||||||
|Net book value||||||||||
|Brought forward||||570,000|120,000|689,000||45,000|1,424,000|
|Carried forward||||475,000|120,000|534,000||45,000|1,174,000|





## 

|determined<br>by the Methodist||Conf|erence|.||||
|---|---|---|---|---|---|---|---|
|||||||This year|Last Year|
|||||||f||
|Investments<br>listed on a recognised<br>Stock Exchange<br>Investments<br>held in common<br>investment<br>funds,<br>Securities not listed on a recognised<br>Stock Exchange||||||9,656<br>27,596|8,424<br>29,018|
|Other investments||||||||
||||||Total|37,252|37,441|
|Change in investment<br>values||||||||
|Carrying<br>(market) value at beginning<br>ofyear<br>Add: additions to investments<br>at cost||||||37,441|39,519|
|Less: disposals at carrying<br>value||||||||
|Net gain/(loss)<br>on revaluation<br>Carrying<br>(market) value at end||ofyear||||(189)<br>37,252|(2,078)<br>37,441|
|11.Analysis ofcurrent assets||||||||
|Debtors and prepayments||||||||
|Pre paid Stipends<br>Accrued<br>income||||||10,176|9,472|
||||||||500|
|Other debtors||||||429|321|
|Total debtors and prepayments||||||10,606|10,293|
|Analysis ofcash at bank||||||||
|Bank balance<br>held in Lloyds Bank Pic||||||1,584|1,818|
|Total Cash and Bank||||||1,584|1,818|
|12.Analysis ofcurrent liabilities||and|long|term creditors||||
|Trade Creditors||||||||
|Other Creditors||||||||
|Total Current<br>Liabilities||||||||



## 



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