| Contents | Page | |
|---|---|---|
| Trustees' Annual |
Report | 3-14 |
| Statement of Financial Activities |
15 | |
| Balance Sheet | 16 | |
| Notes to the Accounts | 17-33 | |
| Declarations and |
Scrutiny. | 34-35 |
| Unrestricted funds |
||
|---|---|---|
| General Fund |
1,123 | |
| District Advance Fund |
214 | |
| Total unrestricted funds |
1,337 | |
| Rock Trust a restricted |
fund | 156 |
| District Disciple desi nated fund |
District Disciple desi nated fund |
Enabler 8Property Officer (a | 43 |
|---|---|---|---|
| Total | funds | 1,536 | |
| Total | unrestricted | funds | 1,337 |
| Less: | Tied u in |
freehold ro ert /assets |
850 |
| Total | readil available reserves |
487 |
| District | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Notes | Advance | Restated | ||||||||||||||||||
| to the | General | Fund | Fund | Designated | Restricted | Total | Total | |||||||||||||
| accounts | (Unrestricted) | (Unrestricted) | Funds | Funds | 2021-22 | 2020-21 | ||||||||||||||
| Income and Endowments | from: | |||||||||||||||||||
| 1 | Donations and legacies |
306 | 306 | 250 | ||||||||||||||||
| 2 | Income from investments | 3,907 | 2,973 | 154 | 7,034 | 9,828 | ||||||||||||||
| 3 | Income from charitable | activities | ||||||||||||||||||
| 4 | Assessments on circuits |
127,033 | 127,033 | 144,608 | ||||||||||||||||
| 5 | From Circuit Model Trust | Funds | 1,220 | 124,862 | 3,201 | 129,283 | 93,036 | |||||||||||||
| 6 | Contribution to the cost |
ofthe Chair | 42,740 | 42,740 | 42,151 | |||||||||||||||
| 7 | Connexional Advance &Property |
Fund | 116,477 | 116,477 | 92,221 | |||||||||||||||
| 8 | Other income | 3,628 | 40,000 | 43,628 | 1,092 | |||||||||||||||
| 9 | Total income | ii | I 178835 |
244 312 I |
40 000 I |
3 I |
355 | 466,501 | ! | I 383 1S6 |
||||||||||
| Expenditure on charitable |
activities: | |||||||||||||||||||
| 10 | Grants and donations | 258 | 132,968 | 2,890 | 136,116 | 122,146 | ||||||||||||||
| 11 | Salaries and associated costs, inc | Chair | 192,613 | 192,613 | 166,814 | |||||||||||||||
| 12 | Property | 27,466 | 27,466 | 24,743 | ||||||||||||||||
| 13 | Office expenses | 9 | 24,668 | 1,352 | 469 | 26,489 | 9,746 | |||||||||||||
| 14 | Synods, committees, Conference |
10 | 12,361 | 12,361 | 5,165 | |||||||||||||||
| 15 | Other outgoings | 23,387 | 23,387 | 6,484 | ||||||||||||||||
| 16 | Total expenditure | 280753 | 3,359 | 418,432 | 335,098 | |||||||||||||||
| 17 | Net unrealised gains on |
fixed | assets | 14 | 130,000 | |||||||||||||||
| Net unrealised gains/(losses) |
on | |||||||||||||||||||
| 17 | investments | -7,815 | -8,285 | -16,100, | 39,747 | |||||||||||||||
| 18 | Net income | -109,734 | ~109992 | 40,000 | -8,289 | 31,969 | 217,835 | |||||||||||||
| 19 | Transfers between funds |
13 | 89,098 | -50,549 | -38,549 | 0 | 0 | 0 | ||||||||||||
| 20 | Net movement In funds |
i=26,636 | "" . | 59,443 | 1,451 | -8,289 | 31,969 | i | 211;835 | |||||||||||
| Reconciliation offunds: |
||||||||||||||||||||
| 21 | Total funds brought forward |
!.. | 1,143,645 | 154,776. | 41,098 | 164,608 | 1,504,127 | 1,286,292 | ||||||||||||
| 22 | Total funds carried forward | I | -' | 1,123,009 | ' | 214,219 | 42,549 | 156,319 | 1,536,096J | ~1,504,127 |
| Notes | Notes | District | Restated | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| to the | General | Advance | Designated | Restricted | Total | ||||||||||||
| Accounts | Fund | Fund | Fund | Fund | Total | 31/08/2021 | |||||||||||
| A | Fixed assets | ||||||||||||||||
| b | Tangible fixed assets | 14 | 851,972 | 851,972 | 852,629 | ||||||||||||
| c | investments with TMCP |
15 | 126,897 | 583,476 | 0 | 156,319 | 866,692 | 770,854 | |||||||||
| d | Total fixed assets | 978,869 | 583,476 | " | 0 | 156,319 | 1,718,664 | ~1,623,483 | |||||||||
| e | Current assets | ||||||||||||||||
| f | Debtors and prepayments | 16 | 9,284 | 9,284 | 395 | ||||||||||||
| G | Central Finance Board deposits | 17 | 144,084 | 42,549 | 186,633 | 209,360 | |||||||||||
| h | Cash at bank | 17 | 3,991 | 3,991 | 4,855 | ||||||||||||
| I | Total current assets | 157,359 | 0 | 42,549 | 199,908 | 214,610 | |||||||||||
| Less: Current liabilities |
|||||||||||||||||
| ) | Creditors due in under one year |
18 | 13,219 | 0 | 13,219 | 14,522 | |||||||||||
| k | Grants payable in 2022-23 |
19 | 217,257 | 217,257 | 177,163 | ||||||||||||
| m | Total current liabilities |
13,219 | 217,257 | 230,476 | 191,685 | ||||||||||||
| n | Net current assets/liabilities | 144140, | -217257 | 42 549 | -30566J | ||||||||||||
| p | Total assets less current liabilities | 1 | 123009, | 366219 | 42 549 | 156319 | 1,688,096 | I | 1,646,408 J | ||||||||
| Less: Long term liabilities | |||||||||||||||||
| (due after more than one year) | |||||||||||||||||
| Grants payable from 2023-24 |
152,000 | 152,000 | 142,281 | ||||||||||||||
| r | Net assets | 1 | 123009 | ——I— ---——-~ ',214219 . |
—-I- -—— — --..—.~ -—I .——.— I t— i 42 549 156319 1 536096; |
1,504,127 J | |||||||||||
| Funds ofthe District | |||||||||||||||||
| s | General Fund (unrestricted) |
20.1 | 1,123,009 | 1,123,009 | 1,143,645 | ||||||||||||
| t | District Advance Fund (unrestricted) |
214,219 | 214,219 | 154,776 | |||||||||||||
| u | Total unrestricted funds |
1,337,228 | 1,298,421 | ||||||||||||||
| Designated Funds |
42,549 | 42,549 | 41,098 | ||||||||||||||
| v | Restricted Fund |
21 | 156,319 | 156,319 | 164,608 | ||||||||||||
| f | |||||||||||||||||
| Total Funds | L-. | 1 | 123009 | .=214.219 | .=42.549 | ... | , 156l319 | 1 | 536 096 | 3 | 1,504,127 I | ||||||
| Underthe authorityofthetrusteesgivenattheirmeeting Signed by Rev Dr David M Chapman, Chair of District ..Q 0A |
on g, Ax J 2023 l~&~CL, and signed by Rev Zena Smith, Synod Secretary Z.~ Date ofsigning ~n/ |
~2 ~ |
| 2021-22 | 2020-21 | |||||
|---|---|---|---|---|---|---|
| E | E | |||||
| Stipend ofChair of | District, Rev | Dr David Chapman | 25,824 | 25,524 | ||
| Employer's | National | Insurance | Contributions | 3,343 | 3,211 | |
| Emplo er's |
pension | contributions | 6,947 | 6,866 | ||
| District Chair Allowance | 6,456 | 6,381 | ||||
| Com in Mist | Allow | 171 | 169 | |||
| Cash cost | aid b the Connexion |
see SOFA | 42,740 | 42 151 | ||
| Chair's ex enses | 6,122 | 6,533 | ||||
| Total cost | 48,862 | 48,684 |
| therincome | [f3, | 628 (2 | 020-21:E | 1,092)] | in the SOFA | includes | : | |
|---|---|---|---|---|---|---|---|---|
| 2021-22 | 2020-21 | |||||||
| F | E | |||||||
| From MCF for costs ofdelegates annual Methodist Conference |
from BEH attending | the | 1,999 | 525 | ||||
| Northampton | Methodist | District expenses | reimbursement | 1,564 | ||||
| Bishop Stortford | Methodist -Manse EPC | Share | 65 | 567 | ||||
| Total | 3,628 | 1,092 |
| ants | and dona | tio | ns ofF |
1 | 36,116were | ma | de during | the year ( | 2020-21:2127,1 | 46 in year). |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021-22 | 2020-21 | |||||||||
| E | f | |||||||||
| From | General | Fund | Benevolence | 258 | 1,248 | |||||
| Ecumenical | Pro'ects | 0 | 258 | 11,133 | ||||||
| From | DAF | ' | In year grants | 83,155 | ||||||
| Increase in |
liabilities | 49,813 | 132,968 | 107.893 | ||||||
| , | Ad ustin | rior | r accrual | 0 | -5,150 | |||||
| From | Restricted | Funds | , | Rock Trust | 2,890 | 2,890 | 1,872 | |||
| Total | 136,116 | 122,146 |
| ough relevant lowing grants |
grants as assessed were made: |
grants as assessed were made: |
grants as assessed were made: |
by the Dis | trict Grants Com | mittee | . During the |
year the |
|---|---|---|---|---|---|---|---|---|
| 2021-22 | 2020-21 | 2021-22 | 2020-21 | |||||
| E | F | F | F | |||||
| Grants | 12,688 | |||||||
| To Churches | Returns | 0 | For Projects | |||||
| Net | 12,688 | 56,781 | ||||||
| To Circuits | Grants Returns Net |
19,500 0 19,500 |
30,600 | For Ministry | Ret PIA Net |
77,848 0 0 77,848 |
102881 | |
| To Institutions | 32,188 | 87,381 | For equipment | |||||
| Grants | - | 46,647 | ||||||
| To others | Acc Rev | Other | 5,307 | 20,000 | ||||
| Net | 46,647 | 35,500 | ||||||
| To individuals | Grants Net |
4,320 0 |
||||||
| Total | 83,155 | 122,881 | 83,155 | 122,881 |
| 2021-22 | 2020-21 | ||||
|---|---|---|---|---|---|
| E | |||||
| Gross a |
129,961 | 110,834 | |||
| Employer's National |
Insurance Contributions |
8,723 | 9,173 | ||
| Employer's pension schemes and death |
contributions to defined in service benefit |
contribution | 10,261 | 4,655 | |
| Total costs of7(2020-21:6)6xpart time81xfull time staff |
148,945 | 124,662 | |||
| Cost ofChair (see Note,'4) | 42,740 | 42,151 | |||
| CFBchar es | 576 | ||||
| TPT DC Life Assurance' | 246 | ||||
| A renticeshi levies |
632 | 513 | |||
| Total staff costs | 192,613 | 167,902 | |||
| Total weekly contracted | hours for | 6 (2020:five) | part time staff | 148 | 120 |
| And one full time staff |
| 2021-22 | 2020-21 | |||||
|---|---|---|---|---|---|---|
| District | office, | rent | and | services | 21,344 | 18,210 |
| Chair's | manse | 6,122 | 6,533 | |||
| Total | 27,466 | 24,743 |
| 2021-22 | 2020-21 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Printin, osta e and |
st'atione | 2,619 | 1,738 | |||
| Tele | hone | 3,559 | 2 830 | |||
| Insurance | 1,437 | 1,404 | ||||
| Safeguarding | 3,301 | 1,431 | ||||
| Inde | endent examination | 990 | 864 | |||
| Office | relocation and |
artitionin | costs | 10,424 | ||
| Other | costs | 1,962 | ||||
| Total | charged to Gene'ral | Fund | 24,668 | 8,267 | ||
| TMCP char es | 2,197 | 1,479 | ||||
| Total | 26,489 | 9,746 |
| 2021-22 | 2020-21 | ||||
|---|---|---|---|---|---|
| F | |||||
| Synods8 Committees |
3,053 | 803 | |||
| The Methodist | Conferenbe | ||||
| Conference expenses | reimbursed | 1,999 | 525 | ||
| Chair's travel | 7,075 | 3,837 | |||
| District Polic | Committee, | as char ed | 234 | ||
| Total | 12,361 | 5,165 |
| District Polic Total 1 Other |
Committee, as char Outgoin'gs |
ed 234 12,361 |
5,165 |
|---|---|---|---|
| 2021-22 | 2020-21 | ||
| E | |||
| Training | 13,772 | 4,661 | |
| Other costs | 3,993 | 1,166 | |
| Depreciation | 657 | 657 | |
| Professional | services | 4965 | |
| Total | 23,387 | 6,484 |
| Property | 180,000 | 300,000 | 20,000 | 500,000 | 350,000 | 850,000 | |||
|---|---|---|---|---|---|---|---|---|---|
| Furniture | 8 | ||||||||
| Fittin s | 3,286 | 0 | 1,314 | 1,972 | |||||
| Total | 180.000 | l | 300,000 | 20,000 | 503,286 | 350,000 | 314851972 |
| 5.1 Holdings |
at 31August | 2022 (2021) | ||
|---|---|---|---|---|
| Gene'ral | DAF | Rock | Total | |
| Fund | ||||
| Trustees | 10,320 | 583,476 | 32,721 | 626,517 |
| Investment | (7,634) | (474,220) | (32,725) | (514,579) |
| Fund | ||||
| Managed | 116,577 | Nil | 123,598 | 240,175 |
| Mixed Fund | 124,392 | Nil | 131,883 | 256,725 |
| Total | 126,897 | 583,476 | 156,319 | 866,692 |
| 132,026 | 474,220 | 164,608 | 770,854 |
| 2021-22 | 2020-21 | |||
|---|---|---|---|---|
| Trade debtors | ||||
| Pre a ments | ||||
| Thorley Church-Synod | Hire deposit | 200 | ||
| Insurance (104+114) | 218 | 216 | ||
| Thorley Church-Synod | Hire Charges | 567 | ||
| Printing | 179 | |||
| Total prepayments | 985 | 395 |
| Current assets on t 8 Creditors |
he | Balance Sheet. | ||||
|---|---|---|---|---|---|---|
| 2021-22 | 2020-21 | |||||
| f | f | |||||
| Creditors | ||||||
| Expenses reimbursement | ||||||
| Independent examination |
960 | 840 | ||||
| Salaries and consultant | fees | 103 | 185 | |||
| Safe uardin | 2,182 | 904 | ||||
| Ecumenical rant |
7,825 | 9,075 | ||||
| Manse refurbishment | 26 | 134 | ||||
| Other | 82 | 147 | ||||
| Postage 8 rintin |
90 | 25 | ||||
| Tele hone | 102 | 85 | ||||
| Synods/Committees | 142 | 96 | ||||
| Conference | ||||||
| DPC | ||||||
| Travel-DC | 733 | 642 | ||||
| District Discipleship | Enabler | 159 | ||||
| ex enses | ||||||
| Office expenses | 49 | |||||
| TPTDC Life Assurance | char es | 93 | ||||
| Pro ert Officer ex |
enses | 56 | ||||
| Total trade creditors | 12,602 | |||||
| Accruals/Provision | ||||||
| Pension contributions |
165 | 1,937 | ||||
| Taxation and Social | Security | 452 | 452 | |||
| Total creditors | 13,219 | 14,522 |
| e following | ana | lyse | s | are a | vailable | : | |||
|---|---|---|---|---|---|---|---|---|---|
| 2021-22 | 2020-21 | ||||||||
| E | |||||||||
| End ofyear commitments | to pay | one off grants | or the first | ||||||
| instalment | in a | future | ear | 80,000 | 30,000 | ||||
| Anticipated | second | or su~bsequent | instalments | where the | |||||
| first instalment | was | aid in | 2021-22 or earlier | 289,257 | 289,444 | ||||
| Total anticipated | commitment | at 31August | 2022 | 369,257 | 319,444 | ||||
| Grants payable | by | year | 2021-22 E |
2020-21 | |||||
| 2021-22 | 177,163 | ||||||||
| 2022-23 | 67,281 | ||||||||
| 2023-24 | 217,257 | 22,500 | |||||||
| 2024-25 | 47,000 | 22,500 | |||||||
| 2025-26 | 37,500 | 15,000 | |||||||
| 2026-27 | 37,500 | 15,000 | |||||||
| 2027-28 | 30,000 | ||||||||
| 369,257 | 319,444 | 369,257 | 319,444 | ||||||
| Total anticipated commiitment at 31Au ust 2022 |
369,257 | 319,444 |
| ovements during the year wer |
e as follows: | ||
|---|---|---|---|
| 2021-22 | 2020-21 | ||
| E | E | ||
| Market value at 01 Se tember 2021 | 164,608 | 144,149 | |
| Investment income received |
during the year | 3,355 | 2,165 |
| Net unrealised (loss)gain on the value of |
|||
| investments at the year end |
-8,285 | 20,455 | |
| Grants paid during the year |
-2,890 | -1,873 | |
| TMCP administration charge |
-469 | -288 | |
| Reversal ofad ustment to bid | rice | ||
| Market value at 31Au ust 2022 |
156,319 | 164,608 | |
| This is made up as follows: | |||
| CFB Mana ed Mixed Fund |
123,598 | 131,883 | |
| Trustees' Interest Fund |
32,721 | 32,725 | |
| Total | 156,319 | 164,608 |
| 22.1 Summary |
offund mov | ements 2 |
ements 2 |
021-22 | |||
|---|---|---|---|---|---|---|---|
| Fund | Restated Balance at 01-Sep-21 Note 1 |
Income (Note 2) |
Expenditure | Transfers | Changein Liabilities/ Gains |
Balance at 31-Aug-2022 |
|
| General | 1,143,645 | 178,834 | -280,753 | 89,098 | -7,815 | 1,123,009 | |
| District Advance See Note 1 below |
154,776 | 244,312 | -84,507 | -50,549 | -49,813 | 214,219 | |
| Total unrestricted | 1,298,421 | 423,146 | -365,260 | 38,549 | -57,628 | 1,337,228 | |
| Rock Trust | 164,608 | . | 3,355 | -3,359 | -8,285 | 156,319 | |
| District Enabler | 41,098 | 40,000 | -38,549 | 42,549 | |||
| Total restricted | 205,706 | 43,355 | -3,359 | -38,549 | -8,285 | 198,868 | |
| Total Funds | 1,504,127 | 466,501 | -368,619 | -65,913 | 1,536,096 |
| 22.2 Summary |
offund move | ments 2 |
020-21 | |||
|---|---|---|---|---|---|---|
| Fund | Balance at 01-Sep-20 Note 1 |
Income (Note 2) |
Expenditure | Transfers | Changein Liabilities/ Gains |
Restated Balance at 31-Au -2021 |
| General | 956,021 | 195,461 | -229,228 | 72,098 | 149,293 | 1,143,645 |
| District Advance See Note 1 below |
145,024 | 170,163 | -108,862 | -51,549 | 154,776 | |
| Total unrestricted | 1,101,045 | 365,624 | -338,090 | 20,549 | 149,293 | 1,298,420 |
| Rock Trust | 144,149 | 2,165 | -2,160 | 20,454 | 164,608 | |
| District Enabler | 41,098 | 20,549 | -20,549 | 41,098 | ||
| Total restricted | 185,247 | 22,714 | -2,160 | -20,549 | 20,454 | 205,706 |
| Total Funds | 1,28,6,292 | 388,338 | -340,250 | 169,747 | 1,504,127 |
| Unrestricted | general | |||
|---|---|---|---|---|
| and designated funds |
Restricted funds | Total funds | ||
| Tangible fixed assets | 851,972 | 851,972 | ||
| Fixed asset investments | 710,373 | 156,319 | 866,692 | |
| Current assets | 199,908 | 199,908 | ||
| Current liabilities |
(230,476) | (230,476) | ||
| Payables due after one ear |
(152,000) | (152,000) | ||
| Total | 1,379,777 | 156,319 | 1,536,096 |
| ectors. The following table shows the r 21-22. |
eceipts | from and p | ayments to re |
lated parties | during |
|---|---|---|---|---|---|
| 2021-22 | 2021-22 | 2020-21 | 2020-21 | ||
| Names of Connected Organisations |
Receipts | Payments | Receipts | Payments | |
| 'E | E | E | |||
| Donee: Methodist Church Fund |
(499,731) | (512,780) | |||
| Donee: Methodist Church Connexion |
20,549 | ||||
| Donee: Methodist Ministers' Children's |
Fund | (0) | (0) | ||
| Donor: Circuits within BEH (assessments) |
626,764 | 657,388 | |||
| Donor: Circuits within BEH (levies) |
116,477 | 93,036 | |||
| Donor: Churches within BEH |
306 | 250 | |||
| Donor: Circuits within BEH-Reimbursement |
|||||
| Donee: Circuits within BEH |
(19,500) | (30,600) | |||
| Donee: Churches within BEH |
(12,688) | (61,781) | |||
| Donee: Individuals (re 3Generate) |
1060 | (840) |