2024-08-31-accounts - Grimsby And Cleethorpes Methodist Church Circuit

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Circuit Accruals Accounts

2023-24

THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2024

GRIMSBY & CLEETHORPES Circuit

Registered Charity - Registration number 1133104 Lincolnshire Circuit No 17/5 Ministers Rev Neil Vickers Rev Susan Chambers Rev Katie Deakins ~~=~~ Circuit Stewards Ann Conn J Derek Holroyd (until 31.8.24) Elizabeth Kershaw Melanie Dickerson Circuit Treasurer John Derek Holroyd (Until 31.8.24)

Statement of Financial Actvites YEAR ENDED 31ST AUGUST 2024 1 Donatons & Legacies 2 Interest (Income from monetary investments) CMTF Central Finance Board TMCP Other Income 3 Rent (income from investment propertes) 4 Assessment 5 Capital Receipts 6 Grants received 7 Other Income 7 Balance from closed churches Total income 9 Grants & Donatons 10 Stpends/Salaries 11 Property Maint Maintenance of manses Expenses on other property Insurance Utlites 12 District - Connexion 13 District - District Expenses 14 Depreciaton 15 Ofce Expenses -Phone & Travel Circuit Ofce Exes 16 Other Outgoings 17 Total Charitable Expenditure Net Receipts less Payments 18 Gains/(losses) on monetary investments 19 Gains/(losses) on investment propertes 20 Net income/(expenditure) 21 Transfers 22 Other gains/losses 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried forward Balance Sheet Manses Other Land & Buildings Investments Current Assets Debtors & prepayments Loans by Circuit - Side Door TMCP Trustees Interest Fund CFB Cash and bank Creditors check - should be 0 Summary of Property Values Manses 107 Welhome Avenue 175 Mill Road 25 Bolingbroke Road Other Land at Keelby Flotergate Homes Laceby Cotage Central Hall Beaconthorpe Humberston	General 0.00 0.00 9023.16 506.42 9270.00 201551.50 0.00 18421.25 0.00	Other Land General CMTF Designated Funds Total Restricted Funds Total Endowed Funds Total Totals & Buildings Manses Fund DesignatedFlotergate H Restricted J Short Trust Endowed for year 0.00 0.00 0.00 0.00 0.00 0.00 1614.22 0.00 0.00 0.00 1614.22 9023.16 0.00 0.00 0.00 9023.16 506.42 0.00 0.00 0.00 506.42 0.00 0.00 0.00 0.00 0.00 0.00 9270.00 0.00 0.00 0.00 9270.00 201551.50 0.00 0.00 0.00 201551.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 18421.25 0.00 27375.88 27375.88 0.00 45797.13 0.00 0.00 0.00 0.00 0.00
	238772.33 0.0	0 0.00 0.00 238772.33 1614.22 0.00 0.00 0.00 27375.88 0.00 27375.88 0.00 0.00 0.00 267762.43
	11000.00 137249.47 10595.88 190969.90 11319.98 48431.00 0.00 0.00 5182.83 2113.77 13034.33	11000.00 0.00 0.00 0.00 11000.00 137249.47 0.00 0.00 0.00 137249.47 0.00 0.00 0.00 0.00 0.00 10595.88 0.00 0.00 0.00 10595.88 190969.90 0.00 5091.70 5091.70 0.00 196061.60 11319.98 0.00 0.00 0.00 11319.98 48431.00 2009.06 0.00 0.00 0.00 50440.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5182.83 0.00 0.00 0.00 5182.83 2113.77 0.00 0.00 0.00 2113.77 13034.33 229.03 0.00 0.00 0.00 0.00 13263.36
	429897.16 0.0	0 0.00 0.00 429897.16 2238.09 0.00 0.00 0.00 5091.70 0.00 5091.70 0.00 0.00 0.00 437226.95
	-191124.83 0.0	0 0.00 0.00 -191124.83 -623.87 0.00 0.00 0.00 22284.18 0.00 22284.18 0.00 0.00 0.00 -169464.52 0.00 497.92 0.00 0.00 2066.80 2066.80 2564.72 0.00 0.00 0.00 0.00 0.00 0.00
	-191124.83 0.0	0 0.00 0.00 -191124.83 -125.95 0.00 0.00 0.00 22284.18 0.00 22284.18 2066.80 0.00 2066.80 -166899.80
	85944.87 0.00	85944.87 -69636.74 0.00 -16308.13 -16308.13 0.00 0.00 0.00 0.00 0.00 0.00 0.00
	-105179.96 0.0	0 0.00 0.00 -105179.96 -69762.69 0.00 0.00 0.00 5976.05 0.00 5976.05 2066.80 0.00 2066.80 -166899.80
	270188.50 0.0	0 509243.00 753250.00 1532681.50 80362.42 0.00 0.00 0.00 0.00 0.00 0.00 20973.88 0.00 20973.88 1634017.80
	165008.54 0.0	0 509243.00 753250.00 1427501.54 10599.73 0.00 0.00 0.00 5976.05 0.00 5976.05 23040.68 0.00 23040.68 1467118.00
	10356.56 14000.00 20025.98 149666.35 16926.65 45967.00 165008.54 0.0 0.00 0.0 valuaton TFA cost TFA cost TFA cost TFA valuaton TFA valuaton IP valuaton IP est IP est IP	753250.00 753250.00 0.00 0.00 753250.00 509243.00 509243.00 0.00 0.00 509243.00 0.00 6933.76 0.00 0.00 23040.68 23040.68 29974.44 10356.56 0.00 0.00 10356.56 14000.00 0.00 0.00 14000.00 20025.98 3665.97 0.00 0.00 0.00 23691.95 149666.35 0.00 0.00 0.00 149666.35 16926.65 0.00 5976.05 5976.05 22902.70 45967.00 0.00 0.00 45967.00 0 509243.00 753250.00 1427501.54 10599.73 0.00 0.00 0.00 5976.05 0.00 5976.05 23040.68 0.00 23040.68 1467118.00 0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Estmated Land Value Residental Other Ins values PY 250000.00 100000.00 373091.00 373091.00 242192.00 120000.00 546562.00 546562.00 261058.00 150000.00 371220.00 371220.00 9243.00 9243.00 0.00 0.00 120000.00 30000.00 247021.00 247021.00 140000.00 70000.00 120000.00 80000.00 120000.00 50000 509243.00 753250.00 600000.00 9243.00

Name of Circuit

Circuit No 17/5

Grimsby & Cleethorpes

Statement of Financial Activities (SOFA) for the year ended 31 August 2024

					Flottergate	J Short
	Notes to		Circuit Model	Designated	Homes	Trust
	the	General Fund	Trust	Funds	Restricted	Endowment
	accounts	(Unrestricted)	(Unrestricted)	(Unrestricted)	Funds	Funds	Total
		£	£	£	£	£	£
Income
1 Donations and legacies	4	0	0	0	0	0	0
2 Income from monetary investments	5	9,530	1,614	0	0	0	11,144
3 Income from investment properties		9,270	0	0	0	0	9,270
4 Assessments on Churches		201,552	0	0	0	0	201,552
5 Capital Receipts	6	0	0	0	0	0	0
6 Grants received		0	0	0	0	0	0
7 Other charitable income	7	18,421	0	0	27,376	0	45,797
8Total income		238,772	1,614	0	27,376	0	267,762
Expenditure
9 Grants and donations		11,000	0	0	0	0	11,000
10 Salaries and associated costs	10	137,249	0	0	0	0	137,249
11 Property maintenance		212,886	0	0	5,092	0	217,977
12 Connexional assessment & levy on	sales	0	0	0	0	0	0
13 District Assessment & Model Trust levy		48,431	2,009	0	0	0	50,440
14 Depreciation		0	0	0	0	0	0
15 Office expenses		7,297	0	0	0	0	7,297
16 Other outgoings		13,034	229	0	0	0	13,263
17Total charitable expenditure		429,897	2,238	0	5,092	0	437,227
18 Gains/(losses) on monetary investments		0	498	0	0	0	498
19 Gains/(losses) on investment properties		0	0	0	0	0	0
20Net income/(expenditure)		(191,125)	(126)	0	22,284	0	(168,967)
21 Transfers between funds		85,945	(69,637)	0	(16,308)	0	0
22 Other gains/(losses)		0	0	0	0	2,067	2,067
23Net movement in funds		(105,180)	(69,763)	0	5,976	2,067	(166,900)
24 Total funds brought forward		1,532,682	80,362	0	0	20,974	1,634,018
25 Total funds carried forward		1,427,502	10,600	0	5,976	23,041	1,467,118

Name of Circuit

Circuit No 17/5

Grimsby & Cleethorpes

Statement of Financial Activities (SOFA) for the year ended 31 August 2023

						Flottergate	Flottergate	J Short	J Short
	Notes to		Circuit	Model	Designated	Homes		Trust
	the	General Fund	Trust		Funds	Restricted		Endowment
	accounts	(Unrestricted)	(Unrestricted)		(Unrestricted)	Funds		Funds		Total
		£	£		£	£		£		£
Income
1 Donations and legacies	4	95		0	0		0		0	95
2 Income from monetary investments	5	7,652		1,191	0		0		608	9,452
3 Income from investment properties		5,866		0	0		0		0	5,866
4 Assessments on Churches		188,505		0	0		0		0	188,505
5 Capital Receipts	6	0		57,892	0		0		0	57,892
6 Grants received		0		0	0		0		0	0
7 Other charitable income	7	1,692		0	0	23,806			0	25,499
8Total income		203,810		59,083	0	23,806			608	287,307
Expenditure
9 Grants and donations		0		0	0		0		0	0
10 Salaries and associated costs	10	125,833		0	0		0		0	125,833
11 Property maintenance		81,670		0	0	14,256			0	95,926
12 Connexional assessment & levy on	sales	0		0	0		0		0	0
13 District Assessment & Model Trust levy		48,555		1,681	0		0		0	50,236
14 Depreciation		0		0	0		0		0	0
15 Office expenses		8,527		0	0		0		0	8,527
16 Other outgoings		5,612		192	0		0		59	5,862
17Total charitable expenditure		270,197		1,873	0	14,256			59	286,385
18 Gains/(losses) on monetary investments		0		(285)	0		0		0	(285)
19 Gains/(losses) on investment properties		(30,000)		0	0		0		0	(30,000)
20Net income/(expenditure)		(96,386)		56,924	0	9,550			549	(29,363)
21 Transfers between funds		53,420	(43,820)		0	(9,550)			0	50
22 Other gains/(losses)		12,996		0	0		0	(875)		12,121
23Net movement in funds		(29,970)		13,104	0		0	(326)		(17,192)
24 Total funds brought forward		1,562,652		67,258	0		0	21,300		1,651,210
25 Total funds carried forward		1,532,682		80,362	0		0	20,974		1,634,018

Circuit No 17/5

Name of Circuit

Grimsby & Cleethorpes

Balance Sheet as at 31 August 2024

Notes to the Accounts Fixed Assets	Notes to the Accounts Fixed Assets	£ General Fund incl Fl Homes(Unrestr icted)	£ Circuit Model Trusts (Unrestricted)	£ Designated Funds (Unrestricted)	£ Restricted Funds	£ Endowment Funds	Total £

Tangible Fixed Assets	11a	762,493					762,493
Investmentproperties	11b	500,000				500,000
Investments	12	0	6,934	0	0	23,041	29,974
Total fixed assets		1,262,493	6,934	0	0	23,041	1,292,467
Current Assets
Debtors	13	10,357	0	0	0	0	10,357
Loans bythe Circuit	16	14,000	0	0	0	0	14,000
Trustee Investment Fund at TMCP		20,026	3,666	0	0	0	23,692
Central Finance Board Deposits		149,666	0	0	0	0	149,666
Cash at Bank and in hand	13	16,927	0	0	5,976	0	22,903
Total current assets		210,976	3,666	0	5,976	0	220,618
Current liabilities
Creditors (due in under 1 year)	14	45,967	0	0	0	0	45,967
Grantspayable within 2021-22							0
Total current liabilities		45,967	0	0	0	0	45,967
Net current assets/liabilities		165,009	3,666	0	5,976	0	174,651

Total assets less current liabilities		1,427,502	10,600	0	5,976	23,041	1,467,118

Long term liabilites (due afer more than oneyear)
Grantspayable after 2021-22							0
Loans to the Circuit							0
							0
Net assets		1,427,502	10,600	0	5,976	23,041	1,467,118

Funds of the Circuit

Funds of the Circuit
General Fund(Unrestricted)	1,427,502	10,600 0 5,976 23,041				1,427,502
Circuit Model Trust Fund (Unrestricted)		10,600				10,600
Total Unrestricted Funds			0			1,438,101
Restricted Funds				5,976		5,976
Endowment Funds					23,041	23,041
Total Funds	1,427,502	10,600	0	5,976	23,041	1,467,118

Signed

Circuit Treasurer

Name of Circuit

Circuit No 17/5

Grimsby & Cleethorpes

Balance Sheet as at 31 August 2023

Notes to the Accounts Fixed Assets	Notes to the Accounts Fixed Assets	£ General Fund incl Fl Homes(Unrestr icted)	£ Circuit Model Trusts (Unrestricted)	£ Designated Funds (Unrestricted)	£ Restricted Funds	£ Endowment Funds	Total £
Tangible Fixed Assets	11a	762,493					762,493
Investmentproperties	11b	500,000				500,000
Investments	12	0	6,436	0	0	20,974	27,410
Total fixed assets		1,292,493	6,721	0	0	21,300	1,289,903
Current Assets
Debtors	13	10,176	0	0	0	0	10,176
Loans bythe Circuit	16	18,000	0	0	0	0	18,000
Trustee Investment Fund at TMCP		35,890	73,927	0	0	0	109,817
Central Finance Board Deposits		218,946	0	0	0	0	218,946
Cash at Bank and in hand	13	26,779	0	0	0	0	26,779
Total current assets		317,690	60,537	0	0	0	383,719
Current liabilities
Creditors (due in under 1 year)	14	39,604	0	0	0	0	39,604
Grantspayable within 2021-22							0
Total current liabilities		47,532	0	0	0	0	39,604
Net current assets/liabilities		270,159	60,537	0	0	0	344,115
		1,562,652 67,258 0 0 21,300 1,634,018 0 0 0 1,532,682 80,362 0 0 20,974 1,634,018 1,532,682 1,532,682 80,362 80,362 0 1,613,044 0 0 20,974 20,974 1,532,682 80,362 0 0 20,974 1,634,018
Total assets less current liabilities		1,562,652	67,258	0	0	21,300	1,634,018

Long term liabilites (due afer more than oneyear)
Grantspayable after 2021-22							0
Loans to the Circuit							0
							0
Net assets		1,532,682	80,362	0	0	20,974	1,634,018
Funds of the Circuit
General Fund(Unrestricted)		1,532,682	80,362 0 0 20,974				1,532,682
Circuit Model Trust Fund (Unrestricted)			80,362				80,362
Total Unrestricted Funds				0			1,613,044
Restricted Funds					0		0
Endowment Funds						20,974	20,974
Total Funds		1,532,682	80,362	0	0	20,974	1,634,018

Signed

Circuit Treasurer

Notes to the Accounts 2024

Grimsby Circuit

1 Basis of accounting

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2019 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. and in line with guidelines issued by the Methodist Church. The Circuit is classified as a small entity and Revenues in most years fall below the £250,000 criteria for producing accrual accounts. However as sales of assets in other years then take income above the threshold for the sake of consistency accrual accounting has been adopted in spite of the increased workload involved.

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 £5,000.

The tangible fixed assets figure is made up of three manses together vaued at £753,250 plus a plot of land adjoining Keelby Methodist Church purchased by the Circuit for £9243 . The manses are valued at cost or 2019 deemed values , of which the land component in the opinion of the Trustees is £370,000. 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

This includes several items. The first, a Cottage which formed part of the Laceby Methodist Church site. This redundant church was sold a few years ago but the Cottage was retained by the Circuit and held for investment purposes as it had a sitting tenant. The second relates to the Grimsby Central Hall property , retained by the Circuit a number of years ago after it ceased to operate as a Church. It has concert hall facilities and is rented out to a third party. There are two redundant Churches passed to The Circuit for sale. The first is Beaconthorpe included in last year's accounts at a valuation of £120,000. This empty listed building was set alight by vandals during the year and severely damaged and is subject to both discussions with our insurers and a pending sale in its current condition.This valuation has been left unchanged in these accounts. We anticipate that a reduced sale value plus a settlement with the Insurance Company will both appear in next year's accounts when the sale is expected to be completed. The second is Humberston Methodist Church. The sale of this redundant property is expected to take place shortly and should appear in next year's accounts. Pending sale these are included as Investment Properties in line with guidelines issued by the Methodist Church. Rental income arises from the Laceby and Central Hall properties and is included in the SOFA as "income from Investment Properties" as a means of highlighting the materiality of the income.

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, which is a cost paid in advance of the service to be received.

Creditors

Creditors relate to Assessments received from Churches in advance.

Impact of Accounting / other changes

In Sept 2021 responsibilty for the day to day operations of Methodist Flottergate Homes (prev Charity Reg 219533) was transferred into the main Circuit Accounts (Charity Reg 1133104) . This has been included within these Circuit Accounts from that date and is included under Restricted Funds. An Action plan to reverse the initial severe losses being incurred has been put in place and is now producing early encouraging results. A programme of necessary premises improvemnt is taking place and will continue into future years. However expensive necessary roof replacement will also need to take place in the near future. The value of the Building, continues to be excluded from these accounts until legal ownership is fully established following a review of Trust documentation. .

Grimsby & Cleethorpes Unrestricted Designated Restricted Endowment £ £ £ £ £ - - - - - - - - - - Circuit Model Trust Fund	Grimsby & Cleethorpes Unrestricted Designated Restricted Endowment £ £ £ £ £ - - - - - - - - - - Circuit Model Trust Fund	Circuit Total £ - -
- - -	- -	-
95 - - - - -	- - - -	95 -
95 -	- -	95
9,023 506 1,614	-	9,023 2,121 -
9,530 1,614	- -	11,144
7,616 37 1,191	608	7,616 1,836 -
7,652 1,191	608	9,452
	This year £ 0 0 16,284 2,106 32 27,376 45,797	Last year £ 57,892 0
		57,892
		0 0 1,692 23,806
		25,498

8. Payment to Trustees

8. Payment to Trustees
With the excepton of Stpends paid to ministers, no payments were made to trustees for additonal services provided to the Circuit by agreement with the Circuit Meetng Thisyear Number of trustees who were paid expenses 3 Nature of the expenses Expense payments primarily relate to reimbursement for travel costs £ Total Amount Paid 1,949 9. Fees for examinaton or audit of the accounts £ 250 nil 10 Paid employees (including Ministers) Staf costs paid during the year were: £ Gross wages, salaries and benefts in kind 105,081 Employer's Natonal Insurance Costs 8,738 Pension Costs 23,431 Total Staf Costs 137,249 Average number of staf employed during the year were 5 Independent examiner’s or auditors' fees for reportng on the accounts Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor	Lastyear
	3
	£
	3,527
	£
	250
	nil
	£
	95,687
	8,120
	22,025
	125,833

	5

Grimsby & Cleethorpes

Circuit

11a. Tangible Fixed Assets (excluding Investment Properties)

Cost or valuation

11a. Tangible Fixed Assets (excluding Investment Propertes)	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit
Cost or valuaton	Year to 31st August 2024
	Residental Land £	Other Land £	Manses £	Other builidngs £	Total £
Balance brought forward	370,000	9,243	383,250	0	762,493
Additons					0
					0
					0
Revaluatons(+/-)					0
Disposals(-)					0
Transfers*(x/-)					0
Balance carried forward	370,000	9,243	383,250	0	762,493
Accumulated depreciaton *Basis* Rate	SL or RB SL or RB
Balance brought forward					0
Depreciaton charge foryear(-)					0
Revaluatons(x/-)					0
Disposals(-)					0
Transfers*(x/-)					0
Balance carried forwards	0	0	0	0	0
Net book value
Brought forward	370,000	9,243	383,250	-	762,493
Carried forward	370,000	9,243	383,250	-	762,493

Cost or valuation

Year to 31st August 2023

	Residental Land £	Other Land £	Manses £	Other builidngs £	Total £
Balance brought forward	370,000	9,243	383,250	0	762,493
Additons					0
					0
					0
Revaluatons(+/-)					0
Disposals(-)					0
Transfers*(x/-)					0
Balance carried forward	370,000	9,243	383,250	0	762,493
Accumulated depreciaton *Basis* Rate	SL or RB SL or RB
Balance brought forward					0
Depreciaton charge foryear(-)					0
Revaluatons(x/-)					0
Disposals(-)					0
Transfers*(x/-)					0
Balance carried forwards	0	0	0	0	0
Net book value
Brought forward	370,000	9,243	383,250	-	762,493
Carried forward	370,000	9,243	383,250	-	762,493

Grimsby & Cleethorpes

Circuit

11b. Tangible Fixed Assets (Investment Properties)

11b. Tangible Fixed Assets (Investment Propertes)	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit	Grimsby & Cleethorpes Circuit
Cost or valuaton	Year to 31st August 2024
	Residental Land £	Other Land £	Manses £	Other builidngs £	Total £
Balance brought forward	230,000	0	0	270,000	500,000
Additons					0
					0
					0
					0
Revaluatons(+/-)		0	0		0
Disposals(-)					0
Transfers*(x/-)					0
Balance carried forward	230,000	0	0	270,000	500,000
Accumulated depreciaton *Basis* Rate	SL or RB SL or RB
Balance brought forward					0
Depreciaton charge foryear(-)					0
Revaluatons(x/-)					0
Disposals(-)					0
Transfers*(x/-)					0
Balance carried forwards	0	0	0	0	0
Net book value
Brought forward	230,000	-	-	270,000	500,000
Carried forward	230,000	-	-	270,000	500,000
Cost or valuaton	Year to 31st August 2023
	Residental Land £	Other Land £	Manses £	Other builidngs £	Total £
Balance brought forward	210,000	0	0	320,000	530,000
Additons					0
Humberston	50,000			70,000	120,000
					0
					0
Revaluatons(+/-)		0	0	-60,000	-60,000
Disposals(-)	-30,000			-60,000	-90,000
Transfers*(x/-)					0
Balance carried forward	230,000	0	0	270,000	500,000
Accumulated depreciaton *Basis* Rate	SL or RB SL or RB
Balance brought forward					0
Depreciaton charge foryear(-)					0
Revaluatons(x/-)					0
Disposals(-)					0
Transfers*(x/-)					0
Balance carried forwards	0	0	0	0	0
Net book value
Brought forward	210,000	-	-	320,000	530,000
Carried forward	230,000	-	-	270,000	500,000

```

The "transfers" row is for movements between fixed asset categories. ** Indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing balance). Also indicate the rate of depreciation: for straight line,depreciation is based on the anticipated life of the asset (in years); reducing balance, a percentage annual deduction is made each year.

Grimsby & Cleethorpes Circuit

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.

	This year £ 29,974 29,974 £ 27,410 2,564 29,974 £ 10,357 10,357 22,903 22,903 45,967 45,967 14000	Last Year £
Investments listed on a recognised Stock Exchange
Investments held in common investment funds,	29,974	27,410
Securites not listed on a recognised Stock Exchange
Other investments
Total	29,974	27,410
Change in investment values		£
Carrying (market)value at beginningofyear	27,410	28,021
Add:additons to investments at cost
Less:disposals at carryingvalue
Netgain/(loss)on revaluaton	2,564	(611)
Carrying (market)value at end ofyear	29,974	27,410
13. Analysis of current assets Debtors and prepayments Pre paid Stpends 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 liabilites and long term creditors Trade Creditors Other Creditors being prepaid Assessments Total Current Liabilites 15. Capital Commitments and Contngent Liabilites At 31st August 2024 the Circuit has no capital commitments (2023:Nil). No Contngent liabilites were identfed at 31st August 2023 (2022: None). 16. Loans A loan was made from the Circuit Model Trust Fund to Side Door. Repayment of £4000 in the year, No predetermined term,		£
		10,176

		0
		10,176

		26,779

		26,779


		39,604
		39,604
		18000

Grimsby & Cleethorpes

Circuit

17. Detailed analysis of individual fund movements

Year ended 31st August

2024

Unrestricted Funds

Unrestricted Funds
Unrestricted Fund Name		Opening Balance	Income	Expenditure	Transfers	Gain/loss on investment	Closing Balance	Purpose of the fund
	£		£	£	£	£
General		1,532,682	238,772	429,897	85,945	0	1,427,502	Dayto dayin	come and ex	penditure
Model Trust		80,362	1,614	2,238	-69,637	498	10,600	To serve the	needs of the	Circuit in Mi	ssion & Out	reach
Designated		0					0
Totals 1,613,044 240,387		1,613,044	240,387	432,135	16,308	498	1,438,101

Designated and Restricted Funds
Fund Name		Opening Balance	Income	Expenditure	Transfers	Gain/loss on investment	Closing Balance	Purpose of the fund
		£	£	£	£		£
Designated Funds
		0	0	0	0		0
		0					0
		0					0
		0					0
Totals		0	0	0	0	0	0
Restricted Funds
Flotergate Homes		0	27,376	5,092	(16,308)	0	5,976	To manage th	e assets,inc	ome and exp	enditure of
		0					0	Flotergate H	omes.
Totals		0	27,376	5,092	(16,308)	0	5,976

Endowment Name		How the capital is invested			Current value of capital			Annual income		What the in	come was	used for
					£			£
James Short Trust Fund		In CFB Managed Mix Fund with TMCP			23,041			0		Retained in Fund

	Totals				23,041			0

The reasons for the transfers between funds were as follows:

Transfers of £69637from CMTF to cover heavy expenditure in General Funds on Surplus Property and £16308 on Flottergate Homes repayment of prior yr losses financed from General Fund.

Grimsby Circuit

17. Detailed analysis of individual fund movements

Year ended 31st August

2023

Unrestricted Funds

Unrestricted Funds
Unrestricted Fund Name		Opening Balance	Income	Expenditure	Transfers	Gain/loss on investment	Closing Balance	Purpose of the fund
	£		£	£	£	£
General		1,562,652	203,810	270,197	53,420	-17,004	1,532,682	Dayto dayincome and expenditure
Model Trust		67,258	59,083	1,873	-43,820	-285	80,362	To serve the needs of the Circuit in Mission & Outreach
Designated							0	(See Below)
Totals		1,629,910	262,893	272,070	9,600	-17,289	1,613,044
Designated and Restricted Funds
Fund Name		Opening Balance	Income	Expenditure	Transfers		Closing Balance	Purpose of the fund
		£	£	£	£		£
Designated Funds
							0
							0
							0
							0
Totals		0	0	0	0		0
Restricted Funds
Flotergate Homes		0	23,806	14,256	(9,550)		0	To manage the assets,income and expenditure of
							0	Flotergate Homes transferred to the Circuit iny/e 2022
Totals		0	23,806	14,256	(9,550)		0

Endowment Name		How the capital is invested			Current value of capital			Annual income	What the in	come was	used for
					£			£
James Short Trust Fund		In CFB Managed Mix Fund with TMCP			20,974			608	Retained in Fund

	Totals				20,974			608

Grimsby & Cleethorpes Circuit DECLARATIONS

Treasurer

I confirm that these accrual based accounts for the year ended 31 August 2024 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit Meeting.

==> picture [450 x 94] intentionally omitted <==

----- Start of picture text -----
Signature of Treasurer J D Holroyd Date 17.9.24
Name J Derek Holroyd
Address 19, Bolingbroke Road, Cleethorpes.
----- End of picture text -----

Presentation to the Circuit Meeting for approval.

==> picture [450 x 163] intentionally omitted <==

----- Start of picture text -----
I confirm that the annual report and accounts for the year ended 31 August 2024 were 17.9.24
presented to the Circuit Trustees at their meeting on
and were approved.
Signature of the Chair of the meeting N Vickers
Name of the Chair of the meeting Rev Neil Vickers
Date 17.9.24
_______________
----- End of picture text -----

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 Circuit for the year ended 31 August 2024. As the Circuit’s trustees, you are responsible for the preparation of the 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 the Act and, in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Grimsby & Cleethorpes Circuit

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” 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 attention in connection with the examination (other than that disclosed below) which give me cause to believe 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 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; or

the trustees’ annual report is not consistent with the accounts

Flottergate Homes is now fully included in the Circuit accounts and forms part of this examination. Comments made in a previous year's Statement regarding legality of ownership of the Homes property are still relevant and I note that the valuation of the Homes property continues to be excluded at this stage until this is fully resolved.

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 accounts to be reached.

I have not obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the 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 0HL. Date

GUIDANCE NOTES

Please see sparate document 'suggested framework for Circuit annual report'. This shows exam Use this as guidance to write the annual report.

Iples of items to include in the annual report.

Balance Sheet	Aug 2022	Aug 2023
Total Funds	358717	204625
Property
Manses (est.)	753250	753250
Land at Keelby (est.)	9243	9243
Flotergate Homes:	0	0
Investment Propertes:
Laceby Cotage (est.)	120000	120000
Central Hall (est,)	140000	140000
South Killingholme (est.) now sold	90000	0
Beaconthorpe (est.)	180000	120000
Humberston	0	120000
Total Property	1292493	1262493
Total Bal Sheet	1651210	1467118