## # ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||||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| ## |||||||||||Cl||| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||Ol||Ol| |||||||||||N||ld| |||||||||||||E| |||||||'0
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