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2020-08-31-accounts

Circuit Model Designated
notaatoeo
accounts		 GeneralFund
(Unrestricted)		 Trust
(Unrestdcted)		 Funds
(unrestricted)		 Restricted
Funds		 endowment
Funds		 Total
31.08.2020
K f oo 5 8
income
1
Donations
and legades		 0 0
2
Income from monetary
investments		 89 2,298 315 2702
3
Income from investment		 properties 1,152 1,152
4 Assessments
on Churches		 130,356 130,356
5
Capital Receipts		 0 0
6
Grants received		 0 0
7
Other charitable
intxtme		 15,396 15,396
8Total income 146,993 2,298 0 0 315 149.606
Expenditure
9
Grants and donations		 16,211 16,211
10Salaries and associated costs 115,130 115,136
11 Property maintenance 26,268 26,268
12Connexional
assessment		 8 model trust levy 14,416 14,416
13District Assessment
& Levy		 22,608 22,608
14Depredation 2,170 2,170
15Office expenses 5,274 5,274
16Other outgoings 16,665 617 62 17,344
17Total charitable
expenditure		 218,748 617 62 219,427
18Gains/(losses)
on monetary		 investments -64 -127 -191
19Gains/(losses)
on investment		 properties 0
20 Net inoome/(expenditure) -71,819 1,601 126 -70,012
21 Transfers
between
funds		 101,480 -101,480 0
22 Other gains/(losses) 0
23 Net movement
In funds		 29,601 -99,799 0 126 -70,012
24Tots
I funds brought
forward		 629,519 308,877 0 33,559 971,955
25Total funds carried forward 659,180 209,078 0 33,685 901,943

Circuit Model oesignated
Notes to the GensrslFund Trusts Funds Restricted Endowment
accounts (Unrestricted) (Unrestricted)
5		 (unrestricted)
f		 Funds
2		 Funds Totals 2020
5		 Totals 2010
Fixed Assets
Circuit Menses &E
ui		 ment 537,617 537,617 539,787
Investment
properties		 60000 60,000 60,000
Investments
Total fixed assets 597,617 0 597,617 599,787
Current Assets
Debtors 20,383 20,383 22,732
Loans b the Circuit
Investments
with TMCP		 209,078 33,685 242,763
Central Finance Board De osits
Cash at Bank and in hand		 17,531
53,103		 53,103
17,531		 348,483
34,557
Total current assets 91,017 209.078 33,085 333,780 405,772
Current liabilities
Creditors (due in under 1 year 29,454 20,454 33,604
Grants payable
within
Total		 2020/21
current		 liabililies 29,454 29,454 33,604
Net current sssetslliabiliuas 61,563 200,070 33,685 304,326 372168
Total assets less current llabgities 659,180 200,070 0 0 33,685 901,943 971,955
Long term liabilities
(due after more than one year)
Loans to the Circuit
Nst assets 659,180 209,078 33,685 901,943 971,955
Funds ofthe Circuit
General
Fund (Unrestricted)
Circuit Model Trust Fund (Unrestricted		 659,180 209,078 659,180
209,076		 629,519
308,877
Desi nated Funds
Unrestricted		 0
Total Unrestricted Funds 868,258 938,306
Restricted
Funds		 0 0
EndowmentFunds 33,685 33,685 33,559
Total Funds 659,180 209,078 0 0 33,605 901,943 971,955

1 Basis ofaccounting
The financial statements
have been prepared
under the Charities Act 2011 in accordance
with the 20(4version ofAccounting
and
Reporting
by Charities: Statement
of Recommended
Practice (SORP)applicable to charities preparing
their accounts
in accordance
with
the Financial
Reporting
Standard
for Smaller Entiyies applicable
in the UK (effective from I January 2015)—the Charities SORP
(FRSSE)—in replacement
for the SORP's 2005 version speciTied
in its related 2006 Regulations
and
in accordance
with the 'true and		 ofaccounting
The financial statements
have been prepared
under the Charities Act 2011 in accordance
with the 20(4version ofAccounting
and
Reporting
by Charities: Statement
of Recommended
Practice (SORP)applicable to charities preparing
their accounts
in accordance
with
the Financial
Reporting
Standard
for Smaller Entiyies applicable
in the UK (effective from I January 2015)—the Charities SORP
(FRSSE)—in replacement
for the SORP's 2005 version speciTied
in its related 2006 Regulations
and
in accordance
with the 'true and		 ofaccounting
The financial statements
have been prepared
under the Charities Act 2011 in accordance
with the 20(4version ofAccounting
and
Reporting
by Charities: Statement
of Recommended
Practice (SORP)applicable to charities preparing
their accounts
in accordance
with
the Financial
Reporting
Standard
for Smaller Entiyies applicable
in the UK (effective from I January 2015)—the Charities SORP
(FRSSE)—in replacement
for the SORP's 2005 version speciTied
in its related 2006 Regulations
and
in accordance
with the 'true and
fair ovemde'
provision contained
therein.
2Funds
The funds held constitute: General Funds are held for any purpose ofthe Circuit which are unrestricted.
The Circuit Model Trust Fund
has wide purposes
defined
in Standing
Ordem, and is categorised as unrestricted.
Restricted funds
are held for narrower purposes.
There are also the following
Endowment
funds as listed. Details ofeach material
fund are disclosed
in the note 12to these accounts.
Any funds may be represented
by more than just cash.
3Accounting
policies
Basis
These accounts have been prepared
on the basis ofhistorical 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 ofthe Circuit's financial
position and activities.
Income Recognition
Income is included
in the Statement of Financial Activities (SOFA) when the Circuit beta&mes 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 Expentled
This is recognised
when a liability is incurred, or a constructive
obligation arises, that results
in the payment
being unavoidable.
Liabilities sre recognised as soon as an outgow ofeconomic 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 ofagreement
or when the Circuit accepts that there isa
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 ihe originally agreed terms.
VAT
Since the Circuit is not VAT registered,
ag input VAT ischarged
with the expenses to which
it refers.
Tangible Axed assets for use by the Circuit
These are capitalised
if they can be used for more than one year, and individually
cost at least Kt,000.
The freehold
property
is shown
in the accounts at cost. No depreciation
is provided
on the buildings
because the trustees consider
current residual fair value ofthe manse
buildings
(on the assumption
that they had reached the end oftheir useful economic lives by		 the
the
year-end) to be not less than its current value. Any depreciation
would
not be material.
The properties
have been reviewed
for
impairment.
Depreciation
on Fixtures is calculated
on a skaight line basis to write ogthe assets over their anticipated
useful lives.
Investment
Investment
properties
—no property
is currently
deemed to not be held for the long term purposes ofthe chariity. The property was
revalued
on 23rd August 2016 by MW Darwin
&Sons Chartered
Surveyors.
Debtors and Prepayments
Debtors are largely payments
relating to the sale of properties,
together
with a loan made to a Circuit Church to help with
refurbishments.
Creditors
Creditors include both sundry expenses and speciyicagy the 1stquarter assessment
received
in August.
Impact ofAccounting
changes
A statement
is required
ifthere has been any mstatement
required to previous
reported
information
as aconsequence
ofthe new
SORP.

For The Yea r Ended 31stAu r Ended 31stAu gust 2020
Circuit Model 2020 2019
5.Investment
income		 Unrestricted Trust Fund Restricted Total Total
Income from monetary investments 89 2,298 315 2,702 3,480
Rental income 1,152 1,152 832
Total 1 241 2,298 315 3,854 4312
6.Paid employees
Staff Costs paid during the year were:
Gross wages, salaries and benefits in kind 115,136 92,903
Total staff costs 115,136 92,903
Average
number ofstaff employed		 during the year were:
7. Tangible Fixed Assets
Cost or valuation Two Menses Fixtures Total
F K
Balance brought
forward		 534,569 16,229 550,798
Additions
at Cost		 0
Balance carried forward 534,569 16,229 550,798
Accumulated
depreciation:
Balance brought
forward		 0 11,011 11,011
Depreciation
charge for year		 0 2,170 2,170
Balance carried forward 0 13181 13,181
Net book value
Brought forward 534,569 5,218 539,787
Carried forward 534,569 3,048 537,617

Analysis ofinvestment
movements
2020 2019
Change in investment
values
Carrying (market) value at beginning ofyear 60,000 60,000
Net gain/(loss)
on revaluation		 0 0
Carrying (market) value at end ofyear E60,000 E60,000

For The Year Ended 31stA ugust 2020
9.Analysis ofcurrent assets This year Last year
Debtors and prepayments E E
Other debtors 20,383 22,732
Total debtors and prepayments 20,383 22,732
Analysis ofcash at bank
Bank balance held in HSBC Bank (General Account) 37,866 8,983
Bank balance held in Yorkshire Bank (Rental Account) 13,950 12,920
Bank balance held in HSBC Bank (Copier Account) 1,045 526
Petty Cash Account (bank card) 242 247
Total Cash and Bank 53,103 22,676
10.Analysis ofcurrent
liabilities		 and long term creditors
Prepaid Assessments 29,454 31,291
Other Creditors 0 2,313
Total Current
Liabilities		 29,454 33,604

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