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||||||Thirsk & Northallerton|Thirsk & Northallerton|Thirsk & Northallerton|Circuit|||Circuit No:|29/23|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Statement|||ofFinancial||Activities (SOFA) for|||the
year ended||31August|2023||
||||||||Circuit Model
ceslgneted||||||
|||||notaa una
aooovau|General Fund
(Unrestricted)||Trust
(Unrestricted)
Funds
(unrestricted)|||Restricted
Funds|Endowment
Funds|Total
31.08.2023|
||||||f||E|E||E|E|E|
|income|||||||||||||
|1
Donations
and legacies||||||||||||0|
|2
Income from monetary
investments||||||1,851||9,363|||235|11,449|
|3
Income from investment|propemes|||||6,300||||||6,300|
|4 Assessments
on Chumhes|||||130,512|||||||130,512|
|5
Capital Receipts||||||576|48,254|||||48,830|
|6
Grants received||||||||||||0|
|7
Other charitable
income||||||12,900||||||12,990|
|8Total income|||||152,229||57,617||0|0|235|210,081|
|Expenditure|||||||||||||
|9
Grants and donahons||||||||||||0|
|10Salaries snd associated|costs||||121,749|||||||121,749|
|11Properly maintenance||||||626||||||626|
|12Connexional
assessment|&|model trust||levy||1,720|11,648|||||13,368|
|13District Assessment
&Levy||||||27,064||5,371||||32,435|
|14Depreciation||||||0||||||0|
|15Of0ce expenses||||||4,020||||||4,020|
|16Other outgoings||||||21,340||775|||23|22,138|
|17Total charitable expenditure|||||176,519||17,794||||23|194,336|
|18Gains/(losses)
on monetary||investments||||||-167|||-333|.500|
|19Gains/(losses)
on investment|||properties|||||||||0|
|20 Net income/(expenditure)|||||-24,290||39,656||||-121|15,245|
|21 Transfers between
funds||||||80||0|||-80|0|
|22 Other gains/(losses)||||||||||||0|
|23 Net movement
in funds|||||-24,210||39,656|||0|-201|15,245|
|24Total funds brought
forward|||||619,601||271,966|||0|7,901|899,528|
|25Total funds canted forward|||||595,451||311,622|||0|7,700|914,773|
##
##
|||||||||Circuit Model|Designated|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||Notes tothe
accovnls|General Fund
(Unrestricted)||Tmsls
(Unrestricted)|Funds
(Unrestricted)||Restricted
Funds||Endowment
Fullds|Totals 2023|Totals 2ett|
|||||||6||5|6||5|||K|K|
|Fixed Assets||||||||||||||||
|Circuit Menses It Equipment||||||534569||||||||534,569|534,569|
|Investment
ro
rties||||||||||||||||
|Investments||||||||||||||||
||Total|fixed||assets||534,569||||||||534,509|534,569|
|Current Assets||||||||||||||||
|Debtors|||||||7,606|||||||7,608|7,721|
|Loans b
the Circuit||||||||||||||||
|Investments
with TMCP||||||||311,622|||||7,700|319,322|279,867|
|Central Finance Board Deposits
Cash at Bank and in hand|||||||55,447
26,586|||||||55,447
26,586|49,624
60,375|
|Total current||||assets|||60,641|311,622|||||7,700|408,963|397,587|
|Current
liabilities||||||||||||||||
|Creditors
due In under|1|ar|||||28,759|||||||28,759|32,628|
|Total|current||liabilities||||28.759|||||||28,759|32,628|
|Net current|as seta/liabilities||||||60,882|311,622|||||7,700|380,204|364,059|
|Total assets less|cununt||ilabllgles|||595,451||311,622||D||D|7,700|014,773|899,528|
|Long term liabilities||||||||||||||||
|due after more than|one year|||||||||||||||
|Loans to the Circuit||||||||||||||||
||||Net|assets||595r451||311,622|||||7,700|914,773|899,528|
|Funds ofthe Circuit||||||||||||||||
|General
Fund
Unrestricted)
Circuit Model Trust Fund (Unrestricted)||||||595,451||311,622||||||595,451
311,622|619,661
271,966|
|Desi nated Funds
Unrestricted)||||||||||||||0||
|Total Unrestricted||||Funds||||||||||90'7,073|891,627|
|Restricted
Funds||||||||||||0||0||
|Endowment
Funds|||||||||||||7,700|7,700|7,901|
|||Total||Funds||595,451||311,622||0||9|7,700|914,773|899,528|
||Thirsk and
Northafferton
Methodist Circuit|||||||
|---|---|---|---|---|---|---|---|
||Notes to the Accounts|||||||
||For The Year Ended 31stAugust 2023|||||||
|1 Beets|ofaccoungng|||||||
||The financial statements
have been prepared
under the Charities
Act 2011 in accordance
with the 2014version of Accounting
and
Reporting
by Charifies: Statement of Recommended
Practice (SORP) applicable to charities preparing
their accounts
in accordance
vrith
the Financial
Reporting Standard
for Smaller Entities applicable
in the IJK (effective from I January 2015)—the Charities SORP
(FRSSE)—in replacement
for the SORP's 2005 version specified
in its related 2008 Regulations
and in accordance with the 'true snd|||||||
||fair override'
provision
contained
therein.|||||||
|2Funds||||||||
||The funds held constitute: General Funds ere held for any purpose of the Circuit which sre unrestricted.
The Circuit Model Trust||||Fund|||
||has wide purposes
defined
in Standing
Orders, 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 sre disclosed
in the note 12to these accounts.|||||.||
||Any funds msy be represented
by more than just cash.|||||||
|3Accounting
policies||||||||
|Basis||||||||
||These accounts have been prepared
on the basis of historical cost except that Investments
are shown at their market||value st|ihe end||||
||ofthe 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 becomes entitled|to the resources,|and the|Wstees||||
||are reasonably
certain they will receive the resources, and
the monetary
value can be measured
with|sufficien reliability.||||||
|Resources Expended||||||||
||This is recognised
when a liability is inourred,
or a constructive
obligation arises, that results
in the payment
being unavoidable.|||||||
||Liabilities are recognised as soon as an outfiow 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 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 ass 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
mth the onginsfiy agreed terms.|||||||
|VAT||||||||
||Since the Circuit is not VAT registered,
all input VAT is charged
with the expenses to which
it refers.|||||||
|Tangible fixed assets for use by the Circuit
These are capilalised
ifthey can be used for more than one year, and individually
cost at least 51,000.||||||||
||The freehold
properly
is shown
in the accounts atcost. No depreciation
is provided
on the buildings|because Ihe trustees consider||||the||
||current residual
fair value ofthe manse
buildings
(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.
Depreciation
on Fixtures is calculated
on a straight
line basis to write offthe assets over|their anticipated|useful lives.|||||
|Investment||||||||
||Fixed asset investments
are a form offinancial
instrument
and are initially recognised at their transaction
cost and|||||||
||subsequently
measured
at fair value at the Balance sheet date, unless the value cannot be measured|reliably in which||||||
||case it is measured
atcost less impairment.
Investment
gains and losses, whether
realised or unrealised,
are combined|||||||
||and presented as 'Gains/(Losses)
on investments'
in the Statement of financial activities.|||||||
||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.|||||||
|Debtom|and Prepayments|||||||
||Prepayments
relate towages and insurance|||||||
|Creditors||||||||
||Creditors include both sundry expenses
and specificafiy the 1st quaher assessment
received
in AugusL|||||||
|Impact|ofAccounting
changes
Astatement
is required
ifthere has been any restatement
required
to previous reported
informafion
as a consequence||ofthe new|||||
||SORP.|||||||
##
||||For The Yea|r Ended 31stAu|r Ended 31stAu|r Ended 31stAu|gust 2023|||
|---|---|---|---|---|---|---|---|---|---|
|||||Circuit Model||||2023|2022|
|5.Investment
income|||Unrestricted|Trust||Fund|Restricted|Total|Total|
|Income from monetary|investments||1,851|||9,363|235|11,449|1,617|
|Rental income|||6,300|||||6,300|5,430|
|Total|||8,151|||9,363|235|17,749|7,047|
|6.Paid employees||||||||||
|Staff Costs paid during|the year were:|||||||||
|Gross wages, salaries and benefits||in|kind|||||121,749|116,301|
|Total staff costs||||||||121,749|116,301|
|Average
number ofstaff employed||during the year were:||||||||
|7. Tangible Fixed Assets||||||||||
|Cost or valuation||||Two|Menses
f||Fixtures
f||Total
6|
|Balance brought forward|||||534569||16229||550,798|
|Additions
at Cost|||||||||0|
|Balance carried forward|||||534,569||16,229||550,798|
|Accumulated
depreciation:||||||||||
|Balance brought forward||||||0|16,229||16,229|
|Depreciation
charge for year
Balance carried forward||||||0
0|16,229||0
16,229|
|Net book value||||||||||
|Brought forward
Canied forward|||||534,569
534,569||||534,569
534,569|
##
##
##
|Analysis|ofinvestment
movements||||||
|---|---|---|---|---|---|---|
||||2023||2022||
|Change|in investment
values||||||
|Carrying|(market) value at beginning|of year|||||
|Net gain/(loss)
on revaluation|||||||
|Carrying|(market) value at end of year|||FO||EO|
##
|ForThe Year Ended 31stA|ugust 2023||
|---|---|---|
|9.Analysis ofcurrent assets|This year|Last year|
|Debtors and prepayments|E||
|Other debtors|7,608|7,721|
|Total debtors and prepayments|7,608|7,721|
|Analysis ofcash at bank|||
|Bank balance held in HSBC Bank (General Account)|12,376|60,375|
|Bank balance held in CAF Account (General Account)|14,209|0|
|Petty Cash Account (bank card)|0|0|
|Total Cash and Bank|26,585|60,375|
|10.Analysis ofcurrent
liabilities and long term creditors|||
|Prepaid Assessments|28,759|32,628|
|Other Creditors|0|0|
|Total Current
Liabilities|28,759|32 626|
##
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