## **THE METHODIST CHURCH – GRIMSBY & CLEETHORPES CIRCUIT**
## **FINANCIAL STATEMENT**
## **1[ST] SEPTEMBER 2020 TO 31[ST] AUGUST 2021**
It is the responsibility of the Managing Trustees of every Methodist Circuit to provide a Financial Statement to ensure that the Circuit within The Methodist Church is financially sound. The details provided on the official form is in a limited form which indicates the financial strengths or weakness of the Circuit. The income & expenditure required is set out below.
**Receipts Expenditure Assessments £175,619 Stipends/NIC/Pensions £112,723 Bank & CFB Interest 305 Manse Costs 14,006 Transfer from TMCP 46,492 District Assessment 42,188 Laceby Cottage Rent 7,622 Administration 6,397 Other Receipts 17,470 Cost of Supporting Churches 2,410 Other Payments 25,406**
## **Total 247,508 Total 203,130**
The Circuit continues with computer accounting and internet banking. The income and expenditure is available on a day to day basis and is reconciled with the accounts held at HSBC bank in Grimsby & CFB bank in London each day. Thus no cheques, with the exception of HM Revenue & Customs, have been issued during the year and all payments have been paid on the internet banking system.
HSBC Grimsby branch will close its counter service on the 7[th] October 201 and will operate on machines only. Money/cheques will have to be paid into the circuit account through the machines in the branch. I have given thought to moving the account to another bank but under the charities acts and all trustees of the circuit will have to provide personal details to the bank. I will, therefore, continue with HSBC as there are very few items paid into the account in any financial year which are not bank transfers. Free banking for charities will end shortly although I believe there will be no charges for internet banking.
There are three banking accounts held under the new system:-
HSBC Grimsby £60,033 Central Finance Board £186,667 TMCP Manchester £165,638 Surplus Funds Account £16,842 Investment Fund £7172
The HSBC account is used on a daily basis to pay the general running costs of the Circuit.
Central Finance Board receives most of the money paid by the churches in assessments and pays large items of expenditure such as Minister’s stipends and the District assessment. In addition the CFB account pays interest on the money held.
The TMCP account is an investment account.
The Receipts and Payments account in the HSBC account for the year ending 31[st] August 2021 show an overall surplus of £44,334 which excludes the CFB accounts and the Model Trust Fund.
The balance in the CFB account shown on the Financial Statement is correct at £156,964 to which is added the three dormant accounts of £29,703 – Total £186,667.
The accounts are prepared on a receipts and payments basis.
AS the total income this year has exceeded £250,000 it is possible that the accounts will have to be reviewed and re-prepared on an accrual basis and professional advice is being sort.
Members must be aware that the surplus shown on the HSBC account is not a true figure. Please refer to the Financial Statement 31[st] May 2021 which included the finances for Wellington Street, Beaconthorpe and South Killingholme – the updated receipt and payment figures are:-
Wellington Street £530.20 £2,731.29
Beaconthorpe 7,816.21 13,889.37 South Killingholme 10,458.27 3,981.85
To meet much of the expenditure money has been withdrawn from the TMPC account to meet much of this account, including £20,000 into the general account to reduce the church assessment for 2021/2, amounting to £46,492.24.
When the three properties are sold the costs will be recovered into the general account from money received from the sales. Within this year of accounts an amount of £5,776.33 has been recovered from the sale of Wellington Street,
**BUDGET, BUDGETS & MORE BUDGETS** are the worst nightmares to any Treasurer and bearing in mind that the Circuit Budget is set 18 months in advance of the financial year commencing there is no wonder there are anomalies when the final accounts are presented.
**WITHIN THE RECEIPTS** - With regard to Church Assessments shown above at £175,620 there is a short fall as two church have not yet paid their assessment due in August 2021 amounting to £6,800 & £2,535(paid in September 2021). Humberston having financial problems partly due to Corvid 19 and a large portion of their funds are tied up in the TMCP account for which application has been made for release – the amount of their assessment outstanding is £3,554(paid in September). In addition there has been a decrease in the assessment for this financial year due to closure of three churches.
An amount of £30,000 was transferred from the TMCP account into the Side door account to cover the costs of rewiring their church as a loan to be repaid over 5 years and a transfer of £10,712.09 to the HSBC general account to cover the salary/expenses of Revd. Jade Bath, previously agreed at the Circuit Meeting.
**WITHIN THE PAYMENTS** – Minster’s travel, telephone and general expenses are below budget due to Minister’s being restricted during Covid 19
Manse expenses are below budget due to the delay in re-roofing the manse in Mill Road.
Included in the Budget is an amount of £4,400 to meet the costs of Quinquennial Church inspections. Due to Covid 19 inspections have been delayed but are recommencing in October 2021.
From the accounts you will ascertain that most expenses are below budget due to restrictions through Covid 19.
**THE LACEBY PROPERTY ACCOUNT** is amended to a Circuit Property Account and rent is received from the Laceby Cottage. From this account any expenses such as maintenance & insurance costs will be paid. The amount held at HSBC is £7,402.56 and at CFB £51,423.71. Due to changes being introduced by HSBC I intend to close the HSBC account and transfer the balance into the CFB account. Any payments due in respect of the cottage would be paid from the general account and the total amount paid during the year would be transferred from the CFB account.
**MANSE EXPENSES** – Maintaining three circuit manses remains expensive if the houses are to maintain their value on the open market and provide suitable living accommodation for our Ministers. This year costs of £4,259.07 includes entrance replacement at Bolingbroke Road - £785 – Window/gate/garden maintenance replacement at Mill Road £1,850. There will be further maintenance/ improvements made at our manses during the forthcoming year.
**HSBC ACCOUNT:-** I do not intend to change banks at the present time as I am informed that all 57 Trustees of the circuit will have to produce personal details to the bank and visit the local bank to complete an application form. HSBC are to introduce bank charges on community accounts in the near future.
**CENTRAL FINANACE BOARD ACCOUNTS** – The Circuit Finances contain five accounts of which two accounts are used on a daily basis, the main account for assessments from the churches and payments including payment of Stipends and District costs, and the Property Account.
**CIRCUIT MODEL TRUST FUND** – The statement has been received from TMCP Manchester as at 31[st] August 2021. The details are set out below:-
Opening Balance £89,394.64 Income/Interest 273.36 Sale Wellington Street 116,350.80 Less TMCP charge 26,542.72 Transfer from closed churches 35,114.11 CPF Levy & Costs 2,386.35 Paid to General Bank Account 46,492.24 TMCP Charges 210.11 Closing Balance £165,638.44
As the circuit accounts are on a receipt & payments basis it is important that as many items as possible are listed in the year of accounts i.e. September to August, within the budget set for the year. Please ensure that the quarterly circuit assessments are sent to the Treasurer on the date due i.e. 14[th] of the month (particularly August).
TMCP are to increase their management charges from 0.2% to 0.285% from 1[st] September 2021 – surprising as their performance during the last 18 months has left much to be desired.
**FLOTTERGATE METHODIST HOMES:-** The Management committee have reviewed the heating system in each of the nine bungalows – the present heating is by way of electric storage heaters – and have installed gas into the housing and are in the process of installing gas central heating systems in each bungalow. Due to misunderstanding the work commenced without Circuit Meeting and District approval. In additional total funding was not in place. From their own funds the cost of the gas piping from the road to the properties and installation of a heating system to two bungalows has been completed at a cost of £16,616.00. To complete the work a further amount of £30,000.00 is required.
The Management committee are seeking a loan from circuit funds which will require approval from the trustees who are the members of the circuit meeting and the District Property Committee. The problem I can see is that the income from the benevolent account is in no way able to pay back the loan under a ten year period.
I would therefor recommend to the trustees that the work is authorised and paid for out of the Circuit property fund now standing at £63,503 and the Homes accounts become part of the circuit funds i.e. income and expenditure is managed by the Circuit Treasurer.
**MINISTER’S PENSION FUND:-** At this year’s Methodist Church Conference a report was presented regarding the deficit of the fund and a copy of the report is attached. I have since attended a District Circuit Treasurer’s meeting where the matter was discussed and we were asked to report to our Circuit Meeting for the subject to be discussed. At the present time a discussion is required but it is likely that conference will make it compulsory for money to be taken from circuit and church funds. My own views reported to the district are:-
1. As the valuation of the pension scheme was at a low point of the Stock Exchange – 31/08/2020 and the market has bounced back an updated valuation should be obtained before asking for additional funds.
2. Ministers should be made aware of the situation and should not expect to take their pension before the national retirement date. If they retire early than they must wait to the retirement age i.e.
66/67 before receiving their pension – even reduced pensions should not be considered apart in very exceptional circumstances.
3. The membership/ churches/circuits are contributing 26.9% of salaries each month to the pension scheme and ministers 9% - normally employers contribute the same – the minsters are doing very well at this time.
4. By asking for a 15% contribution from the churches/circuits their funds will be reduced. On a declining membership, an elderly congregation, who themselves are on limited incomes and pensions, are unlikely to be able to replace the amounts taken.
ONCE YOU SELL THE FAMILY SILVER THERE IS NOTHING LEFT
5. Finally I thought only Members of Parliament are the only people who can set their own salaries and pensions but it appears not id Conference can pass a motion to take money from churches and circuits without approval from the membership – the full time staff being the larger part of the conference – the MP’s are not alone. The Constitution of the Methodist Church should be brought upto date as soon as possible.
I THOUGHT HE WHO PAYS THE PIPER CALLS THE TUNE
**DOCUMENTS:-** Despite the use of computers and modern technology human input is still required and each year new forms seeking information from the District, Circuit and Churches is required by the Connexion. The Circuit and those Churches using the accounting forms prepared by Michael May will have the Standard Form of Accounts automatically generate on their computers. This year the Circuit and Churches have to prepare a Circuit and/or a Church report and submit it to the connexion. A draft circuit report is attached for approval by the meeting and you will see that the date of the meeting is incorrect but will be amended after today’s meeting. I believe the circuit is not complying with SO903 in that a register of documents kept in the circuit safe has never been prepared. The Circuit Stewards will attend to this matter as soon as possible. The Circuit accounts will be forwarded to the circuit auditor after this meeting.
The Standard Form of Accounts, Church Reserve Policy Statement, Church Report and Property Report from each church Treasurer are required by 31[st] October each year. A letter setting out the full requirement for Treasurers has been sent and the forms can be downloaded from the Methodist Church website resources section and the Property Consent site – the information must be completed on the official forms. Please ensure when submitting the form for the Church Membership is shown up-to 1[st] November 2021 as the number stated will be used in calculating the Church Assessment per Church for 2022/23. If not submitted the number shown on the September Plan 2021 will be used,
**PROPERTY REPORT –** Finance and property are associated in that repairs and maintenance have to be paid from Circuit funds:-
## **107 Welholme Avenue**
1. Replacement of the gas fire in the front room.
2. Providing a hard standing in front of the house.
## **175 Mill Road – work outstanding**
1. Replacement of PVC windows
2. Replacement of the main roof
3. Outside Painting
4. Refurbishment of the bathroom to provide a walk in shower
## **25 Bolingbroke Road – work required:-**
1. Removal of a large tree in the rear garden.
2. Replacement of window rear bedroom.
3. Electrical test report required.
4. Replacement of kitchen unit and boards following water leak
5. Install a new bathroom.
## **The Cottage Laceby – work required:-**
1 Replacement of drive from road to the cottage.
**Wellington Street Church** – The building has been on sold for £120,000 which has been accepted by the Circuit. The settlement figures are as follows:-
Total Sale £120,000.00 Selling costs 3,643.20 TMPC deduction 26,542.72 Net to Circuit funds 89,814.08
**BEACONTHORPE CHURCH:-** The contract documents have been repaired by our solicitors BG and have been approved by TMCP Manchester. The documents are with the purchasers solicitors awaiting completion of the sale.
**SOUTH KILLINGHOLME:-** The buyer has submitted his outline plans to the Local Authority and is waiting confirmation in order to proceed with the sale of the building.
Derek Holroyd – Circuit Steward Finance & Property September 2021
Please reply to 19 Bolingbroke Road Cleethorpes North East Lincolnshire DN35 0HF
Telephone 01472 580755 –e-mail j-holroyd @sky.com
## **Accruals A**
# **THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2021**
## **GRIMSBY & CLEETHORPES Circuit**
## **Registered Charity - Registration number**
Lincolnshire
**Circuit No**
## **Ministers**
## **Circuit Stewards**
Rev Neil Vickers Rev Susan Chambers Rev Katie Deakins Ann Conn J Derek Holroyd Elizabeth Kershaw Cheryl Hughes Melanie Dickerson
## **Circuit Treasurer**
John Derek Holroyd
kCCI
1133104
1715
## Name of Circuit
## **Grimsby & Cleethorpes**
## **Statement of Financial Activities (SOFA) for the year ende**
|**Income**
1 Donations and legacies
4
2 Income from monetary investments
5
3 Income from investment properties
4 Assessments on Churches
5 Capital Receipts
6
6 Grants received
7 Other charitable income
7
**Expenditure**
9 Grants and donations
10 Salaries and associated costs
10
11 Property maintenance
12 Connexional assessment & levy on sales
13 District Assessment & Model Trust levy
14 Depreciation
15 Ofce expenses
16 Other outgoings
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
21 Transfers between funds
22 Other gains/(losses)
24 Total funds brought forward
**25 Total funds carried forward**
**Notes to**
**the**
**accounts**
8**Total income**
17**Total charitable expenditure**
20**Net income/(expenditure)**
23**Net movement in funds**|£
£
**General Fund**
**(Unrestricted)**
**Circuit Model**
**Trust**
**(Unrestricted)**|
|---|---|
||0
0
250
404
8,720
0
193,218
0
0
116,357
0
0
20,290
35,114|
||**222,478**
**151,875**|
|||
||0
0
113,301
0
30,981
0
29,971
26,543
12,217
0
0
0
6,238
2,596
14,181
0|
||**206,888**
**29,139**|
||0
1,112
0
0|
||**15,590**
**123,848**|
||46,492
(46,492)
0
0|
||**62,082**
**77,356**|
||1,085,315
95,454|
||**1,147,397**
**172,810**|
Circuit No **17/5**
## **ed 31 August 2021**
|**Designated**|||||
|---|---|---|---|---|
|**Funds**|**Restricted**||**Endowment**|**Total**|
|**(Unrestricted)**|**Funds**||**Funds**|**2020-21**|
|£|£||£|£|
|0||0|0|0|
|0||0|0|**655**|
|0||0|0|**8,720**|
|0||0|0|**193,218**|
|0||0|0|**116,357**|
|0||0|0|**0**|
|0||0|0|**55,404**|
|**0**||**0**|**0**|**374,354**|
|0||0|0|**0**|
|0||0|0|**113,301**|
|0||0|0|**30,981**|
|0||0|0|**56,514**|
|0||0|0|**12,217**|
|0||0|0|**0**|
|0||0|0|**8,834**|
|0||0|0|**14,181**|
|**0**||**0**|**0**|**236,028**|
|0||0|0|1,112|
|0||0|0|0|
|**0**||**0**|**0**|**139,438**|
|0||0|0|0|
|0||0|0|0|
|**0**||**0**|**0**|**139,438**|
|0||0|0|1,180,769|
|**0**||**0**|**0**|**1,320,207**|
## Name of Circuit
## **Grimsby & Cleethorpes**
## **Statement of Financial Activities (SOFA) for the year ende**
|**Income**
1 Donations and legacies
4
2 Income from monetary investments
5
3 Income from investment properties
4 Assessments on Churches
5 Capital Receipts
6
6 Grants received
7 Other charitable income
7
**Expenditure**
9 Grants and donations
10 Salaries and associated costs
10
11 Property maintenance
12 Connexional assessment & levy on sales
13 District Assessment & Model Trust levy
14 Depreciation
15 Ofce expenses
16 Other outgoings
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
21 Transfers between funds
22 Other gains/(losses)
24 Total funds brought forward
**25 Total funds carried forward**
**Notes to**
**the**
**accounts**
8**Total income**
17**Total charitable expenditure**
20**Net income/(expenditure)**
23**Net movement in funds**|£
£
**General Fund**
**(Unrestricted)**
**Circuit Model**
**Trust**
**(Unrestricted)**|
|---|---|
||0
0
1,251
1,230
5,755
0
183,165
0
0
0
0
0
1,567
0|
||**191,738**
**1,230**|
|||
||0
0
122,493
0
10,727
0
30,361
0
9,639
0
0
0
10,540
4,770
14,722
0|
||**198,481**
**4,770**|
||0
(109)
0
0|
||**(6,743)**
**(3,650)**|
||40,712
(40,712)
0
0|
||**33,969**
**(44,361)**|
||1,051,346
139,816|
||**1,085,315**
**95,454**|
Circuit No **17/5**
## **ed 31 August 2020**
|**Designated**|||||
|---|---|---|---|---|
|**Funds**|**Restricted**||**Endowment**|**Total**|
|**(Unrestricted)**|**Funds**||**Funds**|**2019-20**|
|£|£||£|£|
|0||0|0|0|
|0||0|0|**2,480**|
|0||0|0|**5,755**|
|0||0|0|**183,165**|
|0||0|0|**0**|
|0||0|0|**0**|
|0||0|0|**1,567**|
|**0**||**0**|**0**|**192,967**|
|0||0|0|**0**|
|0||0|0|**122,493**|
|0||0|0|**10,727**|
|0||0|0|**30,361**|
|0||0|0|**9,639**|
|0||0|0|**0**|
|0||0|0|**15,310**|
|0||0|0|**14,722**|
|**0**||**0**|**0**|**203,251**|
|0||0|0|(109)|
|0||0|0|0|
|**0**||**0**|**0**|**(10,393)**|
|0||0|0|0|
|0||0|0|0|
|**0**||**0**|**0**|**(10,393)**|
|0||0|0|1,191,162|
|**0**||**0**|**0**|**1,180,769**|
Name of Circuit
**Circuit No 17/5**
## **Grimsby & Cleethorpes**
## **Balance Sheet as at 31 August 2021**
**----- Start of picture text -----**
General Fund Circuit Model Designated Restricted Endowment Totals 2021
(Unrestricted) Trusts Funds Funds Funds
Notes to the (Unrestricted) (Unrestricted)
Accounts £ £ £ £ £ £
Fixed Assets
Circuit Properties 11 753,250 753,250
Investment properties 129,243 129,243
Investments 12 0 7,172 0 0 0 7,172
Total fixed assets 882,493 7,172 0 0 0 889,665
Current Assets
Debtors 13 9,062 0 0 0 0 9,062
Loans by the Circuit 16 30,000 0 0 0 0 30,000
Trustee Investment Fund at TMCP 16,842 165,638 0 0 0 182,480
Central Finance Board Deposits 186,667 0 0 0 0 186,667
Cash at Bank and in hand 13 60,033 0 0 0 0 60,033
Total current assets 302,604 165,638 0 0 0 468,242
Current liabilities
Creditors (due in under 1 year) 14 37,700 0 0 0 0 37,700
Grants payable within 2021-22 0
Total current liabilities 37,700 0 0 0 0 37,700
Net current assets/liabilities 264,904 165,638 0 0 0 430,543
Total assets less current liabilities 1,147,397 172,810 0 0 0 1,320,207
Long term liabilities
(due after more than one year)
Grants payable after 2021-22 0
Loans to the Circuit 0
0
Net assets 1,147,397 172,810 0 0 0 1,320,207
Funds of the Circuit
General Fund (Unrestricted) 1,147,397 1,147,397
Circuit Model Trust Fund (Unrestricted) 172,810 172,810
Total Unrestricted Funds 0 1,320,207
Restricted Funds 0 0
Endowment Funds 0 0
Total Funds 1,147,397 172,810 0 0 0 1,320,207
**----- End of picture text -----**
Signed
Circuit Treasurer
Name of Circuit
**Circuit No 17/5**
## **Grimsby & Cleethorpes**
## **Balance Sheet as at 31 August 2020**
**----- Start of picture text -----**
General Fund Circuit Model Restricted Endowment Totals 2020
(Unrestricted) Trusts Designated Funds Funds Funds
Notes to the (Unrestricted) (Unrestricted)
Accounts £ £ £ £ £ £
Fixed Assets
Circuit Properties 11 753,250 753,250
Investment properties 129,243 129,243
Investments 12 0 6,060 0 0 0 6,060
Total fixed assets 882,493 6,060 0 0 0 888,553
Current Assets
Debtors 13 8,956 0 0 0 0 8,956
Loans by the Circuit 16 30,000 0 0 0 0 30,000
Trustee Investment Fund at TMCP 16,839 89,395 0 0 0 106,234
Central Finance Board Deposits 181,109 0 0 0 0 181,109
Cash at Bank and in hand 13 21,216 0 0 0 0 21,216
Total current assets 258,120 89,395 0 0 0 347,515
Current liabilities
Creditors (due in under 1 year) 14 55,298 0 0 0 0 55,298
Grants payable within 2020-21 0
Total current liabilities 55,298 0 0 0 0 55,298
Net current assets/liabilities 202,822 89,395 0 0 0 292,217
Total assets less current liabilities 1,085,315 95,454 0 0 0 1,180,769
Long term liabilities
(due after more than one year)
Grants payable after 2020-21 0
Loans to the Circuit 0
0
Net assets 1,085,315 95,454 0 0 0 1,180,769
Funds of the Circuit
General Fund (Unrestricted) 1,085,315 1,085,315
Circuit Model Trust Fund (Unrestricted) 95,454 95,454
Total Unrestricted Funds 0 1,180,769
Restricted Funds 0 0
Endowment Funds 0 0
Total Funds 1,085,315 95,454 0 0 0 1,180,769
**----- End of picture text -----**
Signed
Circuit Treasurer
## **Notes to the Accounts**
## **GrimsbyCircuit**
## **1 Basis of accounting**
The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities applicable in the UK (effective from 1 January 2015) – the Charities SORP (FRSSE) – in replacement for the SORP’s 2005 version specified in its related 2008 Regulations and in accordance with the ‘true and fair override’ provision contained therein.
## **2 Funds**
The funds held include General Funds held for any purpose of the Circuit which are Unrestricted, the Circuit Model Trust Fund which has wide purposes defined in Standing Orders and is categorised as Unrestricted, Restricted funds which are held for a narrower purpose and are listed in the final Note below and Endowment funds which are also listed in that Note. Any funds may be represented by more than just cash.
## **3 Accounting policies Basis**
These accounts have been prepared on the basis of historical cost, except that investments are shown at their market value at the end of the year, on the accruals basis to show a true and fair view of the Circuit’s financial position and activities.
## **Income Recognition**
Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.
## **Resources Expended**
This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.
## **Grants**
Grants made by the Circuit from its own funds are recognised in full at the time of agreement or when the Circuit accepts that there is a legal or operational obligation to make the payment. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.
## **VAT**
Since the Circuit is not VAT registered, all input VAT is charged with the expense to which it refers.
## **Tangible fixed assets for use by the Circuit**
These are capitalised if their anticipated reliable life is more than one year, and individually cost at least £2,000.
The freehold properties are shown in the accounts at cost or 2019 deemed values , of which the land component in the opinion of the Trustees is £400,000. No depreciation is provided on any of the buildings because the trustees consider their current residual fair value (on the assumption that they had reached the end of their useful economic lives by the year-end) to be not less than its current value. Any depreciation would not be material. The properties have been reviewed for impairment.
## **Investment Properties**
The Circuit holds a cottage in Laceby which was formerly part the Methodist Church, which was sold was sold and the cottage retained as an investment as it had a sitting tenant. There is also a small piece of land at Keelby purchased by the Circuit which has been incorporated into the Church site, which does not generate an Income. These are not held for their investment potential and are therefore included in Freehold Property, shown as Other Buildings in Note 11. The rental income from the Cottage is described in the SOFA as "income from Investment Properties" as a means of highlighting the materiality of the income. One disused Church was sold during the year (see Note 6 Capital Receipts). 2 further disused Churches are currently for sale and are being maintained by the Circuit. On 24 Sept 2021 financial responsibility for the Methodist Flottergate Homes, located in Grimsby, was passed to the Circuit and will be included in future years Circuit Accounts.
## **Investments**
Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.
## **Debtors and Prepayments**
Debtors relate to the payment of the September stipends in August, a cost paid in advance of the service to be received.
## **Creditors**
Creditors relate to Assessments received from Churches in advance.
## **Impact of Accounting changes**
There are no Accounting changes
|||**Circuit**|**Grimsby**|**& Cleetho**|
|---|---|---|---|---|
||**Unrestricted**|**Model**
**Trust Fund**|
**Designated**|
**Restricted**|
||**£**|**£**|**£**|**£**|
|**4. Donations and Legacies**|||||
|**Year to 31st August 2021**|||||
|Donations
|**-**|**-**|**-**|**-**|
|Legacies
|**-**|**-**|**-**|**-**|
||**-**|**-**||**-**|
|**Year to 31st August 2020**|||||
|Donations
|**-**|**-**|**-**|**-**|
|Legacies
|**-**|**-**|**-**|**-**|
||**-**|**-**||**-**|
|**5. Income from monetary investments**|||||
|**Year to 31st August 2021**|||||
|Central Finance Board
|227||||
|TMCP
|23|404|||
|Other|||||
|**Total**
|**250**|**404**||**-**|
|**Year to 31st August 2020**|||||
|Central Finance Board
|895||||
|TMCP
|356|1,230|||
|Other|||||
|**Total**
|**1,251**|**1,230**|||
|et
Balances from Closed Churches
Transfer from Closed Churches
Various|**This year**
**£**
116,357|
|---|---|
||116,357|
||20,290
35,114|
||55,404|
## **6. Capital Receipts**
Sale of closed Church - Wellington Street
## **7. Other Charitable Income**
## **8. Payment to Trustees**
With the exception of Stipends paid to ministers, no payments were made to trustees for addition services provided to the Circuit by agreement with the Circuit Meeting
||**This year**|
|---|---|
|Number of trustees who were paid expenses|3|
|Nature of the expenses||
|Expense payments primarily relate to reimbursement for travel costs||
||£|
|Total Amount Paid|1,224|
## **9. Fees for examination or audit of the accounts**
£
200 nil
Independent examiner’s or auditors' fees for reporting on the accounts
Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor
## **10 Paid employees (including Ministers)**
**Staff costs paid during the year were:** Gross wages, salaries and benefits in kind
Employer's National Insurance Costs Pension Costs Total Staff Costs
£ 86,025 7,220 20,056 113,301
Average number of staff employed during the year were
4
## **orpes**
## **Circuit**
**Endowment**
**Total £ £ - - - - - - - - - - - -**
**227 427 - - 655 895 1,585 - - 2,480**
**Last year £** 0 0 1,567 1,567
nal
**Last year** 4 £
2,705
£
200
91.841
8.144
22.507
122.493
**Grimsby & Cleetho**
## **11. Tangible Fixed Assets**
Cost or valuation
**----- Start of picture text -----**
Residential Land Other Land Manses
£ £ £
Balance brought forward 400,000 9,243 383,250
Additions
Revaluations (+/-) 0 0
Disposals (-)
Transfers*(x/-)
Balance carried forward 400,000 9,243 383,250
Accumulated depreciation
**Basis SL or RB
** Rate
Balance brought forward
Depreciation charge for year(-)
Revaluations (x/-)
Disposals (-)
Transfers* (x/-)
Balance carried forwards 0 0 0
Net book value
Brought forward 400,000 9,243 383,250
Carried forward 400,000 9,243 383,250
Cost or valuation
Residential Land Other Land Manses
£ £ £
Balance brought forward 400,000 9,243 383,250
Additions
Revaluations (+/-)
Disposals (-)
Transfers*(x/-)
Balance carried forward 400,000 9,243 383,250
Accumulated depreciation
**Basis SL or RB
** Rate
Balance brought forward
Depreciation charge for year(-)
Revaluations (x/-)
Disposals (-)
Transfers* (x/-)
Balance carried forwards 0 0 0
Net book value
Brought forward 400,000 9,243 383,250
Carried forward 400,000 9,243 383,250
**----- End of picture text -----**
**Circuit**
**orpes**
**Year to 31st August 2021**
**----- Start of picture text -----**
Other builidngs Total
£ £
90,000 882,493
0
0
0
0 0
0
0
90,000 882,493
SL or RB
0
0
0
0
0
0 0
90,000 882,493
90,000 882,493
**----- End of picture text -----**
**Year to 31st August 2020**
**----- Start of picture text -----**
Other builidngs Total
£ £
90,000 882,493
0
0
0
0
0
0
90,000 882,493
SL or RB
0
0
0
0
0
0 0
90,000 882,493
90,000 882,493
**----- End of picture text -----**
## **Grimsby & Clee**
## **12. Investments**
The funds that support the Circuit Model Trust Fund are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month.
TMCP is the legal owner and Custodian Trustee of all Methodist Trust Property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.
Investments listed on a recognised Stock Exchange Investments held in common investment funds, Securities not listed on a recognised Stock Exchange Other investments
## **Total**
## **Change in investment values**
Carrying (market) value at beginning of year **Add:** additions to investments at cost **Less:** disposals at carrying value **N** et gain/(loss) on revaluation Carrying (market) value at end of year
## **13. Analysis of current assets**
## **Debtors and prepayments**
Pre paid Stipends Accrued income Other debtors **Total debtors and prepayments**
## **Analysis of cash at bank**
Bank balance held at HSBC
## **Total Cash and Bank**
## **14. Analysis of current liabilities and long term creditors**
Trade Creditors Other Creditors being prepaid Assessments **Total Current Liabilities**
## **15. Capital Commitments and Contingent Liabilities**
At 31st August 2021 the Circuit has no capital commitments (2020:Nil). No Contingent liabilities were identified at 31st August 2021 (2020: None).
## **16. Loans**
A loan was made from the Circuit Model Trust Fund to Side Door. Repayments of £4,000 per year have now been agreed.
**ethorpes Circuit**
**----- Start of picture text -----**
This year Last Year
£ £
7,172 6,060
7,172 6,060
£ £
6,060 6,168
1,112 (108)
7,172 6,060
£ £
9,062 8,956
0
9,062 8,956
60,033 21,216
60,033 21,216
37,700 55,298
37,700 55,298
**----- End of picture text -----**
30000
30000
**Grimsby & Cleeth**
**17. Detailed analysis of individual fund movements Unrestricted Funds**
**Year ended 31st August 2021**
**----- Start of picture text -----**
Unrestricted Fund Name Opening Income Expenditure Transfers Closing Purpose of the fu
Balance Balance
£ £ £ £ £
General 1,085,315 222,478 206,888 46,492 1,147,397 Day to day income and expenditure
Model Trust 95,454 152,987 29,139 -46,492 172,810 To serve the needs of the Circuit in Mis
Designated 0 0 0 0 0 (See Below)
Totals 1,180,769 375,465 236,027 0 1,320,207
Designated and Restricted Funds
Fund Name Opening Income Expenditure Transfers Closing Purpose of the fu
Balance Balance
£ £ £ £ £
Designated Funds
0 0 To serve the needs of the Circuit in Mis
0 0 To serve the needs of the Circuit in Mis
0 0 To serve the needs of the Circuit in Mis
0 0
Totals 0 0 0 0 0
Restricted Funds
0 0
0 0
Totals 0 0 0 0 0
Endowment Name How the capital is invested Current value of capital Annual income What the i
£ £
Totals 0 0
**----- End of picture text -----**
The reasons for the transfers between funds were as follows:
**17. Detailed analysis of individual fund movements Year ended 31st August 2020 Unrestricted Funds**
**----- Start of picture text -----**
Unrestricted Fund Name Opening Income Expenditure Transfers Closing Purpose of the fu
Balance Balance
£ £ £ £ £
General 1,051,346 191,738 198,481 40,712 1,085,315 Day to day income and expenditure
Model Trust 139,816 1,230 4,879 -40,712 95,454
Designated 0 0 0 0 0 (See Below)
Totals 1,191,162 192,967 203,360 0 1,180,769
Designated and Restricted Funds
Fund Name Opening Income Expenditure Transfers Closing Purpose of the fu
Balance Balance
£ £ £ £ £
Designated Funds
0 To serve the needs of the Circuit in Mis
0 To serve the needs of the Circuit in Mis
0 To serve the needs of the Circuit in Mis
0 To serve the needs of the Circuit in Mis
Totals 0 0 0 0 0
Restricted Funds
0
0
Totals 0 0 0 0 0
Endowment Name How the capital is invested Current value of capital Annual income What the i
£ £
Totals 0 0
**----- End of picture text -----**
The reasons for the transfers between funds were as follows:
## **orpes Circuit**
**ncome was used for**
0
## **GrimsbyCircuit**
**ncome was used for**
## **Grimsby & Cleethorpes Circuit DECLARATIONS**
## **Treasurer**
I confirm that these accrual based accounts for the year ended 31 August 2021 have been pre the records of the Circuit and that they include all funds under the control of the Circuit Meetin
Signature of Treasurer Date Name J Derek Holroyd Address
## **Presentation to the Circuit Meeting for approval.**
I confirm that the annual report and accounts for the year ended 31 August 2021 were presented to the Circuit Trustees at their meeting on
and were approved.
Signature of the Chair of the meeting
Name of the Chair of the meeting **Rev Neil Vickers** Date ___________________________________________________________________________
## **Independent Examiner’s Report to the Trustees of the**
## **Grimsby & Cleethorpes Circuit**
## **Responsibilities and basis of Report**
I report to the trustees on my examination of the accounts of the Grimsby & Cleethorpes Circu year ended 31 August 2021. As the Circuit’s trustees, you are responsible for the preparation accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Circuit’s accounts carried out under section 145 of and, in carrying out my examination, I have followed all the applicable Directions given by the Commission under section 145(5)(b) of the Act.
pared from g.
it for the of the
f the Act Charity
## **Grimsby & Cleethorpes Circuit**
## **Basis of Independent Examiner’s Report**
My examination was carried out in accordance with the general Directions given by the Ch Commission. An examination includes a review of the accounting records kept by the chari comparison of the accounts presented with those records. It also includes consideration of items or disclosures in the accounts, and seeking explanations from you as Trustees conce such matters. The procedures undertaken do not provide all the evidence that would be re audit and consequently no opinion is given as to whether the accounts present a “true and and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
I have completed my examination. I confirm that no material matters have come to my at connection with the examination (other than that disclosed below*) which give me cause t that in, any material respect:
the accounting records were not kept in accordance with section 130 of the Act; or the accounts do not accord with the accounting records; or
the accounts do not comply with the applicable requirements concerning the form of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other requirement that the accounts give a ‘true and fair’ view, which is not a matter con part of an independent examination; or
the trustees’ annual report is not consistent with the accounts
I have no concerns and have come across no other matters in connection with the examina which attention should be drawn in this report in order to enable a proper understanding o accounts to be reached.
I have/have not* obtained independent verification of all investments with the Trustees for Church Purposes or held in other trusts, bank balances and funds at the Central Finance Bo Methodist Church at the balance sheet date.
_* Please delete as appropriate_
Name Graham Stevens Signature Relevant Professional qualification or body A.C.M.A. Address 51 Thorganby Road, Cleethorpes, N E Lincs. DN35 0H
Date
arity ty and a any unusual rning any quired in an d fair view”
ttention in o believe r and content r than any nsidered as
ation to f the r Methodist oard of the
L.
## **GUIDANCE NOTES**
**There is an exemplar within the guidance notes produced by The So All the items included in the notes to the accounts for this Circuit m your notes to the accounts.**
**Important note: Comparatives for the summary of assets and liabilities of each cate Therefore notes BS10 and BS 11 need to be reproduced to cover th**
## **outh Bedfordshire Methodist Circuit.**
**may not be applicable to your Circuit. Please choose those that are a**
**egory of fund of the charity and for the detail in the movements in m he previous year (2015-2016).**
## **applicable to you and produce**
## **material individual funds.**
## **GUIDANCE NOTES**
**Please see sparate document 'suggested framework for Circuit ann Use this as guidance to write the annual report.**
# **nual report'. This shows examples of items to include in the annual r**
report.
To be completed by Circuits with total income and endowments of more than £500
Name of Circuit
## **Cash flow statement for the year ended 31 August 2018**
## **Statement of cash flows**
## **Cash from operating activities**
Net cash used in operating activities
## **Cash flows from investing activities**
Dividends,interest and rents from investments Proceeds from the sale of property,plant and equipment Purchase of property,plant and equipment Purchase of intangible assets Proceeds from the sale of investments Purchase of investments Other
## **Net cash provided by investing activities**
## **Cash flows from financing activities**
New borrowing Repayments of borrowing
## **Net cash used in financing activities**
## **Change in cash and cash equivalents in the reporting period**
Cash and cash equivalents at the beginning of the reporting period **Cash and cash equivalents at the end of the reporting period**
## **Reconciliation of net income to net cash flow from operating activities**
Net income for the reporting period ( as per statement of financial activities) **Adjustments for:**
Depreciation and amortisation charges Profit on the sale of fixed assets Loss on the sale of fixed assets Gains on investments Dividends, interest and rents from investments Decrease/(increase) in stocks (increase)/decrease in debtors increase/(decrease) in creditors
## **Net cash used in operating activities**
**Analysis of cash and cash equivalent** Cash in hand Short term deposit (less than 3 months) **Total cash and cash equivalents**
0,000
## **Circuit No**
||**2018**||**2017**||
|---|---|---|---|---|
|**Note**|**£**||**£**||
|||**0**||**0**|
||||||
|||**0**||**0**|
|||**0**||**0**|
|||0|||
|||0|||
|||**0**||**0**|
||**2017**||**2016**||
||**£**||**£**||
2017
2016
l)L