| Thirak & Northallerton Circuit |
Thirak & Northallerton Circuit |
Thirak & Northallerton Circuit |
Thirak & Northallerton Circuit |
Circuit No: | 29/23 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Statement | ofFinancial | Activities (SOFA) for the year ended | 31August | 2021 | ||||||||
| Circuit Model | Designated | |||||||||||
| ucuruee accrvrw |
General Fund (Unrestricted) |
Trust (Unrestricted) |
Funds (unrestricted) |
Restricted Funds |
Endowment Funds |
Total 31.08.2021 |
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| K | f | 2 | 6 | 6 | ||||||||
| income | ||||||||||||
| 1 Donadons and legacies |
0 | 0 | ||||||||||
| 2 Income from monetary investments |
12 | 734 | 220 | 966 | ||||||||
| 3 Income from investment |
properties | 2,241 | 2,241 | |||||||||
| 4 Assessments on Churches |
126,793 | 126,793 | ||||||||||
| 5 Capital Receipts |
43,668 | 109,180 | 152,848 | |||||||||
| 6 Grants received |
0 | |||||||||||
| 7 Other charitable income |
20,339 | 20,339 | ||||||||||
| 8Tots I income | 193,053 | 109.914 | 0 | 0 | 220 | 303107 | ||||||
| Expenditure | ||||||||||||
| 9 Grants and donations |
35,055 | 35,055 | ||||||||||
| 10Salaries and associated | costs | 116,485 | 116.465 | |||||||||
| 11Properly maintenance | 1,375 | 1,375 | ||||||||||
| 12Connexional assessment |
& | model trust | levy | 2,520 | 7,954 | 10,474 | ||||||
| 13District Assessment &Levy |
23,912 | 23,912 | ||||||||||
| 14Depreciation | 2,170 | 2,170 | ||||||||||
| 15Oflice expenses | 3,622 | 3,622 | ||||||||||
| 16Other outgoings | 13,629 | 24,090 | 67 | 37.786 | ||||||||
| 17Total charhable expenditure |
198,748 | 32,044 | 67 | 230,859 | ||||||||
| 18Gains/(losses) on monetary |
investments | 651 | 1,299 | 1,950 | ||||||||
| 19Gains/(losses) on investment |
properties | 0 | ||||||||||
| 20 Net Income/(expenditure) | -5,695 | 78,521 | 1,452 | 74,278 | ||||||||
| 21 Transfers between funds |
43,344 | -43,300 | -44 | 0 | ||||||||
| 22 Other gains/(losses) | 0 | |||||||||||
| 23 Net movement in funds |
37,649 | 35,221 | 0 | 1,408 | 74,278 | |||||||
| 24Total funds brought forward |
659,180 | 209,078 | 0 | 33,665 | 901,943 | |||||||
| 25Total funds can ied forward | 690,829 | 244,299 | 0 | 35,093 | 976,221 |
| Circuit Model | oeslgnated | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Notes to the | General | Fund | Trusts | Funds | Restricted | Endowment | ||||||||||
| ersounts | (Unrestricted) | (Unrestricted) | (unrestncted) | Funds | Funds | Totals 2C21 | Totals 2020 | |||||||||
| 2 | 2 | E | K | |||||||||||||
| Fixed Assets | ||||||||||||||||
| Circuit Menses &E ui |
ment | 535447 | 535,447 | 537,617 | ||||||||||||
| Investmant pro erties |
60,000 | 60,000 | 60 000 | |||||||||||||
| Investments | ||||||||||||||||
| Total | gxed | assets | 595P47 | 0 | 0 | 0 | 595,447 | 597,617 | ||||||||
| Current Assets | ||||||||||||||||
| Debtors | 7456 | 7,456 | 20383 | |||||||||||||
| Loans b the Circuit |
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| Investments vnth TMCP |
244299 | 35,093 | 279,392 | 242,703 | ||||||||||||
| Central Finance Board | De | sits | 45 132 | 45 132 | 17,531 | |||||||||||
| Cash at Bank and in hand | 82,018 | 82,018 | 53,103 | |||||||||||||
| Tofal current | assets | '134,606 | 244,299 | 35.093 | 413.990 | 333.700 | ||||||||||
| Current liabilities |
||||||||||||||||
| Creditors (due in under | 1 | ear | 33,224 | 33,224 | 29,454 | |||||||||||
| Grants payable within Total |
2020)21 current liabilities |
33224 | 33.224 | 29454 | ||||||||||||
| Net cunent | assetsfffabflides | 101,382 | 244 299 | 35093 | 300,774 | 304326 | ||||||||||
| Total assets fess | currenf llabgltles | 696,829 | 244,299 | 0 | 0 | 35,093 | 976.221 | 901,943 | ||||||||
| Long term liabilities | ||||||||||||||||
| due after more than | one | year) | ||||||||||||||
| Loans to the Circuit | ||||||||||||||||
| Nef | assets | 690,829 | 244,299 | 35,093 | 976,221 | 901,943 | ||||||||||
| Funds ofthe Circuit | ||||||||||||||||
| General Fund (Unrestricted) |
696,829 | 696,829 | 059,100 | |||||||||||||
| Circuit Model Trust Fund (Unrestricted) | 244,299 | 244,299 | 209,078 | |||||||||||||
| Desi noted Funds (Unrestricted | 0 | |||||||||||||||
| Total Unrestricted | Funds | 941,120 | 868,258 | |||||||||||||
| Restricted Funds | 0 | 0 | ||||||||||||||
| Endowment Funds |
35,093 | 35,093 | 33,685 | |||||||||||||
| Total | Funds | 696,829 | 244,299 | 0 | 0 | 35,093 | 976,221 | 901.943 |
| 1Basis | ofaccounting | ||||
|---|---|---|---|---|---|
| The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014version 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 Entitles applicable in the UK (effective from 1 January 2015)—the Charitie SORP (FRSSE)—in replacement for the SORP's 2005 version specified in its related 2008 Regulations and in accordance with the 'true and |
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| fair ovemde' provision contained therein. |
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| 2Funds | |||||
| The funds held constitute: General Funds are held for any purpose ofthe Circuit which are unrestricted. The Circuit Model Trust Fund |
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| has wide purposes defined in Standing Orders, and is categorlsed as unrestricted. Restricted funds are held for nenuwar 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. |
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| 3Aocounbng policies |
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| Basis | |||||
| These accounts have been prepared on the basis of historical cost except that investments are shown at their market |
value st | the end | |||
| ofthe year, on the accmals basis to show a true and fair view ofthe Circuit's Rnancial posigon and activities. |
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| 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, snd the monetary value can be measured with sufficient reliability. |
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| Resources Expended | |||||
| This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. |
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| Liabilities are recognised as soon as an oufflow ofeconomic benefit is considered more likely than not under the legal |
or constructive | ||||
| obligation committing the Circuit to pay out resources. |
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| 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 obggation to make the payment. When the grant is recurrent over more than one year the balance payable in future |
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| 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. |
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| VAT | |||||
| Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers. |
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| Tangible | fixed assets for use by the Circuit These are capilalised ifthey can be used for more than one year, and Individually cost st least F1,000. |
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| The freehold property is shown in the accounts at cost. No depreclaiion is provided on the buildings because the trustees consider |
the | ||||
| current residual fair value ofthe manse buildings (on the assumption that they had reached the end oftheir 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 |
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| impairment. Depreciation on Fixtures is calculated on a straight line basis to write offthe assets over their anticipated |
useful lives. | ||||
| Investment | |||||
| Investment properties - The property was revalued on 23rd August 2016by MW Darwin 5Sons Chartered Surveyors. |
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| Debtors | and Prepayments | ||||
| Debtors are largely payments relating to the sale of properties |
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| Creditors | |||||
| Creditors include both sundry expenses and specifically the 1stquarter assessment received in August. |
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| Impact | ofAccounting changes A statement is required ifthere has been any restatement required to previous reported Information as a consequence |
ofthe new | |||
| SORP. |
| For The Yea | r Ended 31stAu | r Ended 31stAu | gust 2021 | |||||
|---|---|---|---|---|---|---|---|---|
| Circuit Model | 2021 | 2020 | ||||||
| 5.Investment income |
Unrestricted | Trust | Fund | Restricted | Total | Total | ||
| Income from monetary | investments | 57 | 734 | 170 | 961 | 2,702 | ||
| Rental income | 2,241 | 2,241 | 1,152 | |||||
| Total | 2,298 | 734 | 170 | 3202 | 3854 | |||
| 6.Paid employees | ||||||||
| Staff Costs paid during | the year were: | |||||||
| Gross wages, salaries | and benefits | in | kind | 116,465 | 115,136 | |||
| Total staff costs | 116,465 | 115,136 | ||||||
| Average number ofstaff employed |
during the year were: | |||||||
| 7. Tangible Fixed Assets | ||||||||
| Cost or valuation | Two Menses 8 |
Fixtures f |
Totalf | |||||
| 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 | 13,181 | 13,181 | |||||
| Depreciation charge for year |
0 | 2,170 | 2,170 | |||||
| Balance carried forward | 0 | 15,351 | 15,351 | |||||
| Net book value | ||||||||
| Brought forward | 534,569 | 3,048 | 537,617 | |||||
| Carried forward | 534,569 | 878 | 535,447 |
| Analysis | ofinvestment movements |
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|---|---|---|---|---|
| 2021 | 2020 | |||
| Change | in investment values |
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| Canying | (market) value at beginning | ofyear | 60,000 | 60,000 |
| Net gain/(loss) on revaluation |
0 | 0 | ||
| Carrying | (market) value at end ofyear | f60,000 | 660,000 |
| For The Year Ended 31stA | ugust 2021 | |
|---|---|---|
| 9.Analysis ofcurrent assets | This year | Last year |
| Debtors and prepayments | 8 | 8 |
| Other debtors | 7,456 | 20,383 |
| Total debtors and prepayments | 7 444 | 20,383 |
| Analysts ofcash at bank | ||
| Bank balance held in HSBC Bank (General Account) | 82,018 | 37,866 |
| Bank balance held in Yorkshire Bank (Rental Account) | 0 | 13,950 |
| Bank balance held in HSBC Bank (Copier Account) | 0 | 1,045 |
| Petty Cash Account (bank card) | 0 | 242 |
| Total Cash and Bank | 82,018 | 53,103 |
| 10.Analysis ofcurrent liabilities and long term creditors | ||
| Prepaid Assessments | 33,224 | 29,454 |
| Other Creditors | ||
| Total Current Liabilities |
33,224 | 29,454 |
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