OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-08-31-accounts

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2021

TRUSTEES’ ANNUAL REPORT

for the year ended

31st AUGUST 2021

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2021

Introduction

How to report on a year that hasn’t really happened?

Harvest Suppers across the Circuit were missed, although many of us found alternate ways – perhaps a meal and a Zoom quiz as we did at Windsor – to celebrate, and the missed opportunities for mince pies and mulled punch were replaced inventively at Colnbrook and Poyle by “Cod and Carols” – a combination of fish and chips and solo singing and by carol concerts and other safe and permissible events across the circuit. The joy of the running club when they heard the singing in the Burnham carpark was worth getting cold for!

And so we continued, each church finding ways of forming community, of looking after each other, of being the Church family. Zoom services brought the whole circuit together and allowed people who had been unable to leave home for some years to re-engage with their church community for worship. Bible studies were easier to manage and the Lent Circuit Bible Study attracted more than 70 people – a good crowd for a Sunday morning in normal times, unheard of for a mid-week Bible Study. The Pastoral Visitors, that band of often unsung heroes, worked tirelessly to ensure that we knew where people were, that they were safe and that they knew we were praying for them. Many of them falling for one reason or another, into categories that the government would recognise as vulnerable, they have carried the love of God into untold numbers of lives via the telephone and the letter box. Local Preachers continue in their calling, and we are very grateful for their commitment and service. All churches are now open for regular worship but remain mindful that Covid is still with us, so care is taken to keep worshippers safe.

We have a new superintendent in the person of Revd Vicci Davidson (from 1[st] September 2020) and were sorry to say good-bye to Revd Carmel Ieraci in August 2021.

Covid has continued to present many difficulties during the year worship, and we mourn the loss of several faithful servants of the Church, but nevertheless, prayer and study have continued despite the difficulties. However, it is with great sadness I report that two of our village churches have made the painful decision to cease to worship during the coming Connexional year. Old Windsor Church will close at the end of September and Eton Wick Church will close after Christmas. Both churches have been blessed with faithful servants over many years. The St Andrew’s Urdu- speaking congregation has also made the difficult decision to cease to meet as a separate congregation and joined the St Andrew’s English-speaking congregation.

Safeguarding has continued to be a high priority in this Circuit. All the Ministerial Staff have made very clear their commitment to its importance.

A Circuit Strategy group has been established. Their role is to be creative and bring their ideas to the Circuit Leadership Team and then, if appropriate, to the Circuit Meeting. One exciting idea is to purchase a doubledecker bus (brightly coloured!) to take our outreach and mission to the surrounding villages and we are currently conducting a feasibility study.

The Stewards have successfully sold 29 Salt Hill Drive. The funds raised from this sale have enabled us to repay the loan we took out to buy the Sutton Avenue manse. It also leaves a surplus which will be a help to us with our work in mission and outreach.

Rev Vicci Davidson Thames Valley Circuit Superintendent

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2021

Objectives

The purposes of the Methodist Church are and shall be deemed to have been since the date of union the advancement of:

The Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church

Any charitable purpose for the time being of any society or institution or subsidiary or ancillary to the Methodist Church

Any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church. Circuit Vision and Mission

A Methodist fellowship of Christian communities in the Thames Valley, transformed by the Good News of Jesus and demonstrating God's love, peace and justice in all we do.

Worship of the Living God

Serve

Evangelise

Brief financial review of the year

For most of 2020-2021 the Circuit was subject to the restrictions of Covid-19, working remotely and delivering resources from The Vine to those who did not have internet. Congregations have gradually returned to physical meetings and all were meeting by the end of the year with variable return by other users of the premises. Just one church needed to ask for a reduction in their assessment this year but this has increased by two more for 2021-22. December saw the sale of a manse and the discharge of the bridging loan. At the end of the year a manse that had unexpectedly come available for a year was made ready to let. The Circuit was able to offer this to a Methodist Minister outwith the control of the Methodist Church who was seeking temporary accommodation on moving from the north of England.

Circuit financial plans for the coming year had been prepared on the basis that there will be four full time ordained staff with anticipated cost of living stipend increases combined with an increase in the assessment paid to the Connexion and District. The total assessment increase on the Churches in the Circuit had been

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2021

kept to that of the previous year. This was divided between the churches according to their incomes in 201920 with £15,000 from reserves to cover the difference between those offering extra and those needing a grant. Since agreement of the budget the number of ministers has decreased to three and rental income agreed for the temporary use of the manse. The surplus will be used to fund a lay worker and an additional contribution to the Ministers’ pension fund.

Structure, Governance and Management

The Circuit is governed by the Deed of Union (1932) and the Methodist Church Act 1976 as amended March 2011. Overall control of the Circuit rests with the Methodist Conference. The Connexional Office implements decisions made by Conference and is also responsible for the stationing of ministers in individual Circuits. Connexional decisions are passed to the Chair of the District and the appropriate Officers of the District for regional implementation. The District passes the control down to Circuit level for local implementation by the Superintendent Ministers, ministerial staff and Circuit Stewards via the medium of the Circuit Meeting. The membership of the Circuit Meeting is laid down in the Constitutional Practices and Discipline of the Methodist Church.

The Circuit Leadership Team comprises four Circuit Stewards, a Senior Circuit Steward, the Circuit Treasurer, the Superintendent Minister and three Ministers. Circuit meetings are held four times a year and are attended by the Circuit Stewards, Church Ministers and representatives from the church congregations. Appointments of new Stewards are made as necessary, with suggestions of who would be most appropriate for the position being accepted from other stewards or ministers. If the person approached, is amenable to taking up office, their nomination is put forward and voted upon at a Circuit meeting. Meetings are chaired by the Superintendent Minister, with those attending becoming the Trustees of the Circuit. It is the Trustees who comprise the decision making body and who will vote on proposals put before the meeting.

Volunteers

The Thames Valley Methodist Circuit is grateful to the Stewards who freely volunteer their time to attend meetings and to carry out the administrative work required in order to run the Circuit successfully.

Legal and Administrative Information

Full Name of Charity: …Thames Valley Methodist Circuit

Registration Charity Number: 1133442 Date of registration 4 January 2010

Main communication address Circuit Office, 1a Spring Lane, Cippenham, Slough SL1 5BQ Telephone Number 01753 536357 Email: tvmc6off@btconnect.com

Website: http://www.methodistthamesvalley.org.uk/

Paid part time Administrator: Pauline Poole

Susan Le Page acted as the principal officer overseeing the day to day financial management and accounting for the circuit during the year.

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2021

Independent examiner

Richard Bridgen Bridgen Watkins& Wainwright, Suite 1A, 1[st] Floor, 18 Crendon Street, High Wycombe, HP13 6LS

Bankers

HSBC 35 High Street, Maidenhead SL6 1JQ.

Central Finance Board 9 Bonhill Street London EC2A 4PE

Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2021

Trustees

The members of the Thames Valley Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches.

Active Circuit Ministers

Rev Vicci Davidson, Superintendent Minister and chair of Circuit Meetings Rev Margaret Dudley Rev Anne Ellis Rev Carmel Ieraci to August 2021

Circuit Lay Worker Joshua Wilson to 30 November 2020

Circuit Stewards Joyce Brown Glenice White to 31 August 2021 Elizabeth Tottingham Charles Buckman Keith Machin Anne Haggarty from 1 September 2021 Susan Le Page, Circuit Treasurer

Other Circuit Meeting Members

Alexander, David Le Page, Keith Amankwah, Kwabena Mount, Alison Barnett, Jean to 31 August 2021 Mount, Philip Brown, Marilyn Phipps, Diana Bulley, Frank Richardson, Evan Cheeseman, Brenda Richardson, Jackie Clack, Laura Rickman, Kathy Clack, Philip Ridley, David Clifford, Sue Rivett, Jane Connor, Naomi Short, Jane Crockett, Patie Statham, John Davidson, Elanor Sturgeon, Jenny Filmore, Christine Thomson, Evelyn to 31 August 2021 Filmore, Edward Tottingham, Dave Foster, Judith Trout, Sue Haggarty, Ian White, Rev Dr Malcolm Harrison, Linda White, Peter Hogg, Daphne Wren, Chris Kendon, Felicity to 31 August 2021 Wren, Janice

Thames Valley Methodist Circuit Trustees Report y.e.31 August 2019

THAMES VALLEY METHODIST CIRCUIT

Charity Registration Number 1133442

FINANCIAL STATEMENTS

For the year ended 31st August 2021

Contents Page
Statement of Financial Activities y.e 31st August 2021 1
Statement of Financial Activities y.e 31st August 2020 2
Balance Sheet 3
Notes to the Accounts 4 - 9
Cash Flow Statement 10
Trustees Report
Declarations and Scrutiny

Thames Valley Methodist Circuit

Circuit No. 36/4

Statement of Financial Activities (SOFA) for the year ended 31 August 2021

Notes to
the
accounts
Income
Capital Receipts
2
Assessments on Churches
3
Share of lettings Income
4
Contribution to costs of shared manse
5
Interest received
Donations
Other
6
Total income
Expenditure
Loan repayment
BS5
Costs re manse sales
7
Costs re manse purchases
8
Grants and donations
9
Salaries and associated costs
10
Property expenses
11
Connexional assessment & model trust levy
12
District assessment & levy
13
Office & administration expenses
14
Training & Resources for Mission
15
Bridging Loan Interest
Total charitable expenditure
Net income/expenditure before property gains
Gains/losses on revaluing manses
BS1
Net income/expenditure
Transfers between funds
BS6
Net movement in funds
Total funds brought forward
Total funds carried forward
General Fund
Circuit Model
Trust
Manse Fund
Building
Reserve Fund
Mission
Development
Fund
Total
2018-19
£
£
£
£
£
£
470,000
-
490,000
20,000
264,576
264,576
197
201
398.00
399
399
204,828
-
490,201
285,373
301,602
-
301,602
0
10,591
10,591
157,907
157,907
43,199
43,199
52,603
52,603
11,045
11,045
8,514
8,514
1,473
1,473
3,082
3,082
-26,860
315,275
288,415
-177,968
174,926
-3,042
-177,968
174,926
-3,042
13,930
-25,930
12,000
-164,038
148,996
12,000
-3,042
3,325,503
0
19,000
20,000
10,000
3,374,503
£3,161,465
£148,996
£31,000
£20,000
£10,000 £3,371,461

Thames Valley Methodist Circuit

Circuit No. 36/4

Statement of Financial Activities (SOFA) for the year ended 31 August 2020

Notes to
the
account
s
Income
Capital Receipts
BS1
Assessments on Churches
3
Share of lettings Income
4
Contribution to costs of shared manse
5
Interest received
Donations
Other
6
Total Income
Expenditure
Loan Repayment
BS5
Costs re manse sales
7
Costs re manse purchases
8
Grants and donations
9
Salaries and associated costs
10
Property expenses
11
Connexional assessment & model trust levy
12
District Assessment & Levy
13
Office expenses
14
Training & Resources for mission
15
Bridging Loan Interest
Total charitable expenditure
Net income/expenditure before property gains
Gains/losses on revaluing manses
BS1
Net income/expenditure
Transfers between funds
Net movement in funds
Total funds brought forward
Total funds carried forward
General Fund
Circuit Model
Trust
Manse Fund
Building
Reserve Fund
Mission
Development
Fund
Total
2019-20
£
£
£
£
£
£
546000
546000
265782
265782
3000
3000
1081
487
1568
2128
250
250
2628
817991
487
250
250
818978
538496
7528
7528
2522
2522
209092
209092
43805
43805
50203
50203
10756
967
11723
16010
108
16118
1541
1541
12680
12680
892634
1075
355212
-74643
-587
250
250
-74,730
-7504
-7,504
-82147
-587
250
250
-82,234
71352
-69852
-1250
-250
-10795
-70439
-1000
-82,234
3336297
70439
20000
20000
10000
3456737
3325503
0
19000
20000
10000
£3,374,503

Thames Valley Methodist Circuit

Circuit No. 36/4

Balance Sheet as at 31 August 2021

Notes to the
Accounts		 General Fund Circuit Model
Trust		 Manse Fund Building Reserve Fund Mission Development Fund
Totals
2020/21		 Totals
2019/20
£ £ £ £ £ £ £
Fixed Assets
Circuit Manses BS1 3,065,000 3,065,000 3,535,000
Total fixed assets
3,065,000
0
0
0
0
3,065,000
Current Assets
~~es~~
~~Rs~~
~~LD~~
~~GG~~		 0 3,535,000
Debtors
~~a~~		 BS2
39,337
39,337
~~OO~~		 48,579
Loans to churches
~~a~~		 BS3 0 0 3,500
Investments with TMCP
148,996
148,996
~~OO~~		 0
Central Finance Board Deposits
~~a~~		 138,626
138,626
~~GO~~		 146,102
Cash at Bank and in hand
~~a~~		 47,376
47,376
~~OO~~		 19,839
Total current assets
~~a~~		 225,338 148,996 0 0 0
374,334		 218,020
Current liabilities
Creditors (due in under 1 year) BS4 67,874 67,874 76,915
Loan payable within 2020-21 BS5 0 0 301,602
Total current liabilities 67,874 0 0 0 0
67,874		 378,517
Net current assets/liabilities 157,465 148,996 0 0 0
306,461		 -160,497
Total assets less current liabilities
~~es ~~		 3,222,465
148,996
0
0
~~SC ~~		 0
3,371,461
~~Cs~~		 3,374,503
Long term liabilities
(due after more than one year)
Bridging Loan Chapel Aid BS5 0 0
Net assets 3,222,465 148,996 0 0 0
3,371,461		 3,374,503
Funds of the Circuit
General Fund(Unrestricted) 3,161,465 3,161,465 3,325,503
Circuit Model Trust Fund (Unrestricted) 148,996 148,996 0
Manse Fund 31,000 31,000 19,000
Building Reserve Fund 20,000 20,000 20,000
Mission Development Fund 10,000
10,000		 10,000
Total Unrestricted Funds 3,371,461 3,374,503
Total Funds 3,161,465 148,996 31,000 20,000 10,000
3,371,461		 3,374,503
Signed Ath.ha,
Circuit Treasurer Mrs S P Le Page Mrs S P Le Page 22-Oct-21

Notes to the Accounts

1 Basis of Accounting and Accounting Policies

The financial statements have been prepared under the Charities Act 2011 in accordance with 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 (FRSSE102) 2015 applicable in the UK and in accordance with the ‘true and fair override’ provision contained therein. b Public benefit entity

The Thames Valley Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below. c 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. The accruals basis has been used and trustees present accounts that show a true and fair view of the Circuit’s financial position and activities. d Content

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research and judgement. The accounts are expressed in £Sterling, rounded to the nearest pound. Where the content of this year’s accounts is different from that of the previous year, the comparative year’s numbers have been adjusted and restated to be in the same format and on the same basis.

e Going concern

Based on the monetary assets and human resources available at 31 August 2020, the trustees believe that the Circuit is a going concern. f Consolidation

The Circuit oversees the work of ministers and lay workers in Churches within the Circuit but does not have control over those Churches, ministers or lay workers except in extreme circumstances, none of which were applicable. For this reason, the financial statements of the Churches within the Circuit are not consolidated into these financial statements.

g Income Recognition

Income is brought into account when it is more likely than not that the economic benefit will be forthcoming. The Circuit acts as agent in the collection from churches and payment over of their contributions to the Methodist Church Mission fund and specific gift collections. These transactions are not reflected in the SOFA but shown in the Notes to the Accounts as required by SORP(FRS102) module 19.12.

h Expenditure

This is recognised when a liability is incurred, or a constructive obligation arises, where the amount is reliably measureable and it is considered more likely than not that there will be an outflow of economic benefit.

i 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. j VAT

Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

k Tangible Fixed Assets

Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £1000.

The freehold property is shown in the accounts at 2019 market values, the insurance re-instatement value has been used for buildings subtracted to give the land value. No depreciation is provided on the building because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The property has been reviewed for impairment..

l Debtors and Creditors

Debtors are stated at the amounts owed to the Circuit or prepaid. This includes the September stipend cost which is paid to the Methodist Church in August. Creditors include both sundry expenses and accruals including the 1st quarter assessment due in August and loan interest accrued.

m Ministers' manse costs

The Circuit is required to provide accommodation for each minister in the Circuit and their families and this is seen as a benefit to the Circuit. Ministers are expected to occupy the manse provided for them. The Circuit bears the cost of repairs, maintenance, buildings insurance, Council Tax and water charges. These figures are not separately disclosed as benefits-in-kind for ministers as HMRC does not seek to tax these receipts in the hands of ministers.

n Funds Structure

The funds held constitute: General Funds held for any purpose of the Circuit which are Unrestricted. The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted. Restricted funds are held for a narrower purpose. There are no Endowment funds. Details of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash.

o Reserves Policy

General Fund

The Fund is to be maintained at a minimum of 3 months’ worth of annual expenses less transfer to other reserve funds and a maximum of 6 months’ worth of annual expenses. This is to manage risk and meet unplanned expenditure calls on the Circuit. For 2020/21 this is a minimum of 65,500 and a maximum of £131,000.

Manse Fund

This Fund is to be built up, by year 5, to £15,000 per owned Manse, in order that monies are available for works necessary at the change of Minister. The Fund, in addition, is to maintain a running buffer of £10,000 per annum

Building Reserve Fund

The Fund is maintained at £20,000 per annum. The Circuit Meeting to decide if a Loan should be granted. The Circuit Meeting delegates authority to the CLT to set the Loan Interest Rate.

Mission Development Fund

The Fund is maintained at £10,000 per annum. The Fund is to be used as a ‘primer’ source of money for larger mission schemes as well as a source for helping fund smaller local projects

The Circuit Meeting delegates authority to the CLT to receive and decide each application. Any decisions made are to be reported for information to the next Circuit Meeting.

2 Capital Receipts
Capital Receipts 2020/21 2019/20
Sale of manse see note BS1 £490,000 £546,000
Assessments on Churches 2020/21 2019/20
£264,576 £265,782

3 Assessments on Churches

The Circuit comprises 13 congregations meeting in 12 churches and each is assessed for a contribution to meet the overall net costs of the Circuit. The Circuit aims to cover all its net core costs from the Assessment and reserves over and above the reserves policy figure for the General Fund. An Assessment on Churches is annually determined by the Circuit according to affordability. Assessments on churches are quarterly in advance and are treated as pre-payments on a receivable basis. If any church has not paid its assessment by the due date the sum in question is also treated as a debtor.

4 Lettings Income
2020/21
5 Contribution to costs of shared manse
2020/21
6 Other Income
2020/21
Old Youth Fund transferred from Building society account
399
7 Costs re manse sales
2020/21
Sale of manse
Professional costs
9,822
Other costs whilst empty
769
£10,591
8 Costs re manse purchases
2020/21
Professional costs
Refurbishment
0
£0
9 Grants and donations
2020/21
10 Salaries and associated costs
FTE
2020/21
FTE
Ministerial Staff Costs paid during the year were:
Gross wages, salaries and benefits in kind
104,530
Employer’s National Insurance costs
9,897
Pension costs
28,036
Apprentice Levy
572
Total ministerial staff costs with full time equivalent number
4
£143,035
5
Other staff costs
Urdu speaking minister part time net of contribution from congregation
Removal costs - ministers arriving Aug
Relocation allowance - ministers arriving Aug
Lay worker 2020/21 four months only
0.25
7,427
0.625
Office administrator
0.375
7,446
0.125
Total staff costs
£157,907
Contribution from the other circuit and the Connexion towards the costs of housing their minister sharing his wife's m
Circuit		 2019/20
2019/20
£3,000
2019/20
£0
2019/20
7,504
24
anse in this
£7,528
2019/20
2,522
£2,522
2019/20
2019/20
127,570
11,616
33,426
585
£173,197
2,062
788
600
24,797
7,649
£209,092

No employees received employee benefits of more than £60,000. There is no accrual for holiday pay as it is immaterial; the holiday year ends on 31 August. All staff are paid at or above the Living Wage, as directed by the Methodist Conference.

10a Payment to Trustees

The Superintendent of the Circuit, the other Ministers and the remaining members of the CLT are considered as Key Management Personnel. The Superintendent chairs meetings of the CLT and Circuit Meetings. The members of the Circuit Meeting are the trustees of the Circuit. The stipends, employer’s NIC and employer’s pension contributions and other expenses of the Ministers of the Circuit are paid by the Circuit. The manses are provided by the Circuit and the Circuit maintains the property. The value of the Council Tax and water charges paid by the Circuit is not disclosed here as HMRC does not regard this as a benefit-in-kind in the hands of the minister. Each Minister is entitled to a 3 month sabbatical every 5 years and the expenses incurred by the Presbyter are met by the Connexion with the Circuit continuing to pay the stipend. During the year there has been one sabbatical. The Circuit does not accrue for holiday pay cover as the remaining staff cover the holidays as needed and without extra pay.

Four Ministers were employed during the year (2020 five). The remaining trustees neither received nor waived any emoluments during the year. (2020 nil)

during the year. (2020 nil)
2020/21 2019/20
Expenses reimbursed No.
claimants		 Travel Other No. claimants Travel Other
Ministers 4 £2,305 £312 5 £5,132 £3,150
Lay Worker 1 £254 £0
Other Trustees 4 £1,532 6 £63 £1,278
Office Administrator 1 £169 1 £24 £243

There was one payment of £400 made to a trustee for additional services, provided to the Circuit by agreement with the Circuit Meeting, excluding stipends. Other expense payments primarily relate to reimbursement for internet services, printing, hospitality and small manse property costs.

11 Property expenses
Council Tax
Water charges
Insurance
Maintenance
Refurbish Clarence Rd
Installation of water softeners
Refurbish manse for incoming minister
Quinquennial inspection of manses
Total expenditure on manses
Costs whilst manse empty
Quinquennial inspection of churches
Circuit office rent
12 Connexional assessment & model trust levy
13 District assessment & levy
District Assessment
Levy on Model Trust Balance
14 Office & administration costs
Telephone and Broadband
Travel Expenses
Printing, Postage & Stationery
Staff recruitment costs & DBS
Accountancy & Payroll costs
Hospitality
Office equipment
Website & Plan software
Other
TMCP admin charge		 2020/21
9,418
1,429
3,703
8,404
3,804
4,820
3,696
797
£36,070
533
4,307
2,289
£43,199
2020/21
£52,603
2020/21
11,045
£11,045
2020/21
3,814
2,348
945
23
880
0
0
504
8,514
£8,514		 2019/20
11,514
1,492
3,871
6,169
3,375
14,020
£40,441
1,444
1,920
£43,805
2019/20
£50,203
2019/20
10,756
967
£11,723
2019/20
5,081
5,472
2,051
166
2,230
332
299
379
16,010
108
£16,118
**14a ** Fees for independent examination of the accounts 2020/21 2019/20
£960 £960
**15 ** Training & Resources for Mission 2020/21 2019/20
Conferences, retreats & training 0 515
Resources including internet conference service 1,473 966
Methodist Women in Britain 0 60
£1,473 £1,541
**16 ** For information only Money received and passed on 2020/21 2019/20
Received Paid Received Paid
Easter Offering for Methodist World Mission Fund (Total
donated including by churches directly was £2721.45) £192 £192
Collection for minister leaving £1,770 £1,770 £4,217 £4,217

BS1 Manse Properties

During the year the manse in Salt Hill Drive Road has been sold and the proceeds used to pay off the bridging loan. The values at September 2019 have been shown to ensure parity overall.

Aug-19
Aug-19 Market Value
Disposal Revaluation Revaluation
Gain/Loss
Building
Land
2019
Net
Building
Land
Clarence Road
384,284
515,716
900,000
384,284
515,716
Spring Lane
299,715
200,285
500,000
299,715
200,285
Salt Hill
263,188
206,812
470,000
479,409
9,409
Poplars Grove
360,000
465,000
825,000
360,000
465,000
Sutton Avenue
490,000
350,000
840,000
490,000
350,000
£1,797,187
£1,737,813
£3,535,000
£479,409
£1,533,999
£1,531,001
£9,409
BS2 Debtors & Prepayments
2020/21
2019/20
Debtors
Church Assessments received late
27,633
30,594
Council Tax refund due on empty manse
647
177
Water charges refund due on empty manse
25
60
Other
433
Prepayments
Stipends, Pension, NI
9,023
14,942
Water charges
Methodist Insurance
2,008
2,373
£39,337
£48,579
BS3 Loans to churches
2020/21
2019/20
Interest free loan to Ledgers Road Methodist Church repaid
£3,500		 Aug-19
Aug-19 Market Value
Disposal Revaluation Revaluation
Gain/Loss
Building
Land
2019
Net
Building
Land
384,284
515,716
900,000
384,284
515,716
299,715
200,285
500,000
299,715
200,285
263,188
206,812
470,000
479,409
9,409
360,000
465,000
825,000
360,000
465,000
490,000
350,000
840,000
490,000
350,000		 Aug-19
Aug-19 Market Value
Disposal Revaluation Revaluation
Gain/Loss
Building
Land
2019
Net
Building
Land
384,284
515,716
900,000
384,284
515,716
299,715
200,285
500,000
299,715
200,285
263,188
206,812
470,000
479,409
9,409
360,000
465,000
825,000
360,000
465,000
490,000
350,000
840,000
490,000
350,000		 Aug-19
Aug-19 Market Value
Disposal Revaluation Revaluation
Gain/Loss
Building
Land
2019
Net
Building
Land
384,284
515,716
900,000
384,284
515,716
299,715
200,285
500,000
299,715
200,285
263,188
206,812
470,000
479,409
9,409
360,000
465,000
825,000
360,000
465,000
490,000
350,000
840,000
490,000
350,000
£1,797,187
£1,737,813
£3,535,000
£479,409
£1,533,999
£1,531,001
£9,409
2020/21
27,633
647
25
9,023
2,008
£39,337
2020/21		 2019/20
30,594
177
60
433
14,942
2,373
£48,579
2019/20
£3,500
BS4 Creditors, Accruals and Income in Advance
Assessments in advance
Staff Expenses
Lay worker, Pension, NI
Other
Telephone & Broadband
Examination of accounts
Interest accrued on bridging loan
BS5 Bridging Loan
July 2019 Bridging Loan from Methodist Chapel Aid Limited
Repayment on sale of manse December 2020		 2020/21
63,523
531
76
2,600
183
960
£67,874
301,602
-301,602
£0		 2019/20
68,638
1,153
1,766
139
347
2,880
1,992
£76,915
840,099
-538,496
£301,602

There were no other capital commitments or contingient liabilities at 31 August 2021.

BS6 Manse Fund

Manse Fund
Poplars
Purchased Mar 2019
Sutton
Purchased July 2019
Clarence
Refurbishment due summer 2022
Spring Lane
Refurbishment summer 2020
Transfer from General Reserve
Adjustment from General Reserve
Bal. b/f including £10,000 buffer
Bal.c/f		 2019-20
2020-21
2021-22
2022-23
2023-24
2024-25
3,000
3,000
3,000
3,000
3,000
3,000
-15,000
3,000
3,000
3,000
3,000
3,000
3,000
-15,000
3,000
3,000
3,000
3,000
3,000
3,000
-15,000
3,000
3,000
3,000
3,000
3,000
3,000
-15,000
-15,000
-3,000
12,000
-3,000
12,000
-18,000
-3,000
2,000
20,000
19,000
31,000
28,000
40,000
22,000
£19,000
£31,000
£28,000
£40,000
£22,000
£19,000

Thames Valley Methodist Circuit

Circuit No

36/4

Cash flow statement for the year ended 31 August 2021

2,021 2020
Statement of cash flows £ £
Cash from operating activities
Net cash used in operatingactivities -165,011 -15,316
Cash flows from investing activities
Dividends,interest and rents from investments 398 1,568
Proceeds from the sale of property,plant and equipment 479,409 538,472
Purchase of property,plant and equipment - -2,522
Other 3,500
Net cash provided by investing activities 483,307 537,518
Cash flows from financing activities
New borrowing
Repayments of borrowing - 304,684
 -538,496
Net cash used in financing activities -304,684 -538,496
Change in cash and cash equivalents in the reporting period 13,612 -16,294
Cash and cash equivalents at the beginning of the reporting period 165,941 182,235
Cash and cash equivalents at the end of the reporting period £179,553 £165,941
2021 2020
Reconciliation of net income to net cash flow from operating activities £ £
Net income for the reporting period (as per statement of financial activities) - 177,968
 -74,643
Adjustments for:
Profit on the sale of fixed assets 9,654 56,459
Dividends, interest and rents from investments - 398
 -1,568
(increase)/decrease in debtors 12,743 6,981
increase/(decrease) in creditors - 9,041
 -2,545
Net cash used in operating activities -165,011 -15,316
2021 2020
Analysis of cash and cash equivalent £ £
Cash in hand 47,376 19,839
Short term deposit (less than 3 months) 287,622 146,102
Total cash and cash equivalents £334,998 £165,941

Name of Circuit Thames Valley Methodist Circutt No 3614 Independent Examiner's Statement The Circuit's gross income exceeded £250,000 and l am qualified to undertake the examination by being a qualified member of ICAEW. 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 accordan￿ 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 conceming 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 fairf view, which is not a matter considered as part of an independent examination 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 examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. I havelhave not" obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts. bank balan￿S and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Name of independent examiner Richard Brigden Relevant professional qualification of independent examiner FCA Name of firm Brigden Watkins & Wainwright Address Suite 1A, 1st Floor, 18 Crendon Street, High Wycombe, Bucks Post Code HP13 6LS Date