**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**| |8**Total 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**| |17**Total 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| |20**Net 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| |23**Net 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**| |8**Total 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**| |17**Total 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)| |20**Net 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| |23**Net 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**
£|**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**
**£**
**£**
**£**
**£**
**£**
**4. Donatons and Legacies**
**Year to 31st August 2024**
Donatons
**- - - - -**
Legacies
**- - - - -**
**- - - - -**
**Year to 31st August 2023**
Donatons
**95 - - - -**
Legacies
**- - - - -**
**95 -**
**- -**
**5. Income from monetary investments**
**Year to 31st August 2024**
Central Finance Board
9,023
TMCP
506 1,614
-
Other
**Total**
**9,530 1,614**
**- -**
**Year to 31st August 2023**
Central Finance Board
7,616
TMCP
37 1,191
608
Other
**Total**
**7,652 1,191**
**608**
**6. Capital Receipts**
**This year**
**£**
Sale of closed Church - South Killingholme
0
0
**7. Other Charitable Income**
Pension Reserve Fund Refund of donaton made in 2022
16,284
From Circuit Churches
2,106
Misc
32
Flotergate Homes Income (mainly Rents)
27,376
45,797
**Circuit Model**
**Trust Fund**|**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||| |**N**etgain/(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. **----- 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.** **----- 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|