Charity Règlstration No. 1134040 EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (351241 LEGAL AND ADMINISTRATIVE INFORMATION Circuit Ministèrs Revd Rachel Bending {Superinlendenll Revd Oluyemisi Jaiye5imi Revd Shirlyn Toppin Revd Susan Male Deacon Lemia Nkwelah Revd Tasawer Samuel Pandayar IAsso¢iale Pastor) Clrcuit stewards Kathleen Loveridge Stephen Sears {Treasurerl Jane Horwich Fleur Halherall Charity number 1134040 Audltor Summers Morgan First Floor, Sheraton House Lower Road Chorleywood Hertfordshire VV03 5LH Bankers Barclays Bank PIC Ealing Branch Lei¢esler LE87 2BB Investment advlsors Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE Trustees for Melhodisl Church Purposes Central Buildings Oldham Street Manchester M1 1JQ
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124> CONTENTS Page Trustees, report Slalemenl of Trustees. responsibilities Independent auditor's report 9- 11 Statement of financial activities 12 Balance sheet 13 Stslement of cash flows 14 Notes lo the financial stalemenls 15-26
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2020 The Trustees present their report and financial sialernenls for the year ended 31 Augu512020. The Trustee5 have adopted the provisions of the Slalemenl of Reoommended Practice ISORPI Accounting and Reporting by Charities IFRS 1021 in preparing the annual report and financial slalemenls of the charity. The financial statements have been prepared in accordance with the a¢¢ounting policies Sel out in note 1 10 the financial slalemenls and comply with the Circuit's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable Its charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Irelanll IFRS 1021 (effective 1 January 20191" Objectives and activitles The charity's objective is lo a¢1 as a resource provid&r wlhin the area around Ealing for the Melhodisl Church. The purposes of the Methodist Church are and shall be deemed to have been since the Dale c>f Union the advancement of". al The Christian faith in accordance wlh the doctrinal standards and the discipline of the Methodist Church., bl Any ¢harilable purpose for the time being of any Connexional, District. Circurf(, local or other organisalion of the Methodist Church., and cl Any charitable purpose for the lime being of any society or institution or subsidiary lo thè Methodist Church. dl The organisation and resourcing of regular public acts of worship open to members of the church and non-members alike. el The leaching of Christianity through sermons, courses and small groups. The resourcing of pastoral work including visiting the sick and bereaved. gi Taking religious assemblies in local schools. h) Promotlon ol Chrislianity through the staging of events and Servc&S. Provision ol chaplaincy servi¢es to the local university and other inslitulions. Aims and activitle The Cir¢uil's mission is lo be a powerful spiritual influence in the Community and a visible expression of God's inclusive love. We aim lo achieve this by encouraging, through the churches in our Circuit, the worship, social, and outreach activities that currently exist,. seeking new ways lo extend lo others the fe51owship of the Church family,. and Ihrr>ugh these lo develop the life ol the Circuit and ils churches. Aims and activities within the objectives and purposes are.. al To resource worship in each of the churches and congregations of the Cir¢uil and in a weekly ecumeni¢al act of worship ir) Soulhall. b) To hold worship ar)d social gatherings for the whole Gircuil gathered as one on al least 4 occasions each yeai. cl To resource regular events lo develop dilpleshlp, knowledge and practice of faith., dl To provide a ministerial staff to support. organise and care for those volunteers who offer pastoral care within our churches and indeed to provide pastoral care themselves. To offei training on Pastoral care, safeguaiding elc.. el To offer training lo officers, both volunteers and employed, lo enable their development and the practice of their tasks within the oiganisation., To identify missional needs and lo work with partners lo fulfil them., gl To provide town centre chaplaincy in Greenford alongside ecumeni¢al partners.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 The significant aclwilies which have contributed to the achievement of aims and objectives.. al Worship has been regularly held in each ol the Circuit's churches and Congregations and in joint service with a local Anglican Church each week in South811. bl The Circuit has led and resourced Bible Studies and begun a dIlple$hlp developrnenl programme in order lo help our members deepen their faith and piaclice. cl The Circuit actively supports the work of various social mission projects in which we ale 8 partner. including Foodbanks, Nightshelters, an Inlerfailh Project in Secondary Schools in Soulhall and a scheme offering support, social interaction. exercise etc. lo the elderly living in their own hornes. These are supported financialty through grants bul also through the time and attention of our members. The achievement of these aims will further our primary purpose lo advance the Christian faith by bringing people into conla¢t wlh the Melhodisl Church in our area. The Circuit uses refle¢lwe Prath' to assess and develop its work. This lakes place within the Circuit Staff Meeting, the Circuit Policy Committee and the Circuit Stewards Meeting. Given the nature ol the Circuit's aims and obje¢lives, the Circuit does Not sel criteria or measures lo assess su¢¢ess. It will continue lo promote ils aims regardless of any temporary setbacks. The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what aclivibes the Circuit should undertake. Achlev&m&nts and performance The Circuit Stewards are pleased lo rewrt on how these objectives have been pursued during 2019120.. The Circuit Policy Committee was replaced by a IYJhler Cir¢uil Leadership Team Comprised of ministerial staff and Cir¢uit Stewards. The Circuit has continued lo encourage missional thinking and involvement through night shelter projects, Food Bank, the Live at Home Scheme and a new project raising money for Christian Aid. This last named has succeeded in engaging a wde cross-section of the Circuit with enlhusiasrn. Circuit identity and unity has visibly improved in and through an increasingly successful series of Circuit Services and events planned jointly by the team ol ordained ministers. The Circuit has begun to create a plan for future maintenance using quinquennial inspection reports as a base. Due to the CDrnplexity of the Circuit's property portfolio this has not been as 51raighfforward as had been hoped. The Circuit continues 10 seek ways tr) move this forward. The CiT¢uiI has responded lo the changes in working practices demanded by COVID 19 by providing video worship and woiship on Zoom, Zoom Bible Studies and discussions and by suppOng churches as they created risk assessments etc lo ensure their activities are COVID secure. Due lo the global pandernic the Circuit has moved many of 115 governance activities online and has adapted ils procedures as necessary in line with Melhodisl CPD and the advice from the Methodist Connexional Team. Review of the year The Circuit prepares accruals financial stalemenls. The Circuit budget is prepared by first anticipating the expenditure for the forthcoming year and then delemiining, in discussion wlh the individual churches, how that sum will be raised. Normally about 70Q/o tsf the Circuit income comes from the individual churches within the Cir¢uit by means of 8n Assessment agreed with each church.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Financial review The value of Circuit funds as al 31 August 2020 was £4,869,823. which is a increase of £74,129 from the previous year. The Circuit does not use performance indicators lo m&asure'oulpuls' as these are not appropriate for the type of activities undertaken by the Circuit. The principal sourw of funds are assessrnenls paid by churches within the Circuit and income from let properties. These finance ministers, stipends and the general running costs of the Circuit. Funds held by th& circuit are invested with the Trustees for Methodist Church Purposes nalionalty in a¢¢ordance with the social investment policies of the Melhodisl Church. The King's Hall, Soulhall King's Hall has remained closed since 2013 as the building had become unsafe for public use. Two churches worshipped al Kings Hall, an English language Congregation on Sunday mornings and an Urdu.speaking congregation on Sunday afternoons. Following ihe closure, the morning congregation joined Kingsdown Melhodisl Church as a 'Class Meeting. and worship on SLJnday mornings at Hanwell Methodist Church. The afternoon, Urdu-speaking congregation htrld their worship in the premises of 8 nearby school, which they rènt. The Circuit is in negolialion with a developer to redevelop the site lo provide church and community space and affordable residential accommodation. Grants Grants tolaling £1,926 were awarded during the year. The Circuit supports the Soulhall Group Ministry, based at Sl George's Parish Southall, to provide a Ghrislian Vvorker lo witness in the Southall Schools. Funding of £100.000 over 5 years was agreed by the Circuit Meeting on 26 March 2014.The project also allraeted successful grants of £45,000 over 3 years from the All Saints Educational Trust and £30,000 over 2 years from the London District Advance fund. Though these grants p3ss through the Circuit accounts the cc)mmilmenl from reserves is up lo £100,000. Other notes During the year the Circuit was 8 member of the Association of Church Ac¢ountants and Treasurers. The repairs and Maintenan expendilure during the year on property was wrillen off and not capitalised. At no lime during the year was the Circuit in501venl either in terms of ils assets or In terms of its ability to pay ils debts as they became due. R8serv8s Policy The Circuit believes that il should ensure that it has reserves sufficient lo cover the stipends and employment costs of ils Presbyters, Deacons and part-lime Adminislralors for thè full ensuing year bul not lo meet any redundancy pay should this be payable. This sum is eslimaled at £275,658 for the next lin3n¢ial year. At the balance sheet date the Circuit held £254,660 in reserve., the Trustees believe that through effective management of their expenses and increased income the reserve position should improve. Other fixed costs of the Circuit, including the District Levy and Dislii¢l Assessments, are eslimaled at £167,402 for a full yeai. The Circuit deems il prudent to hold sufficient to cover these costs for six months, i.e. £83,701. The total of these p¢)ssible costs is £359,359.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Prlncipal risks and uncertainties The ongoing financial d&fial.' The Circuit is seeking to minimise this risk by reducing ils staffing by Dne ordained presbyter in September 2020 and by carefully reviewing ils budgets and raising awareness of the problem across the Circuit. Management and adminislralive glructure.. Al present the Circuit's organisalion does not have the capacity or sltuclure lo meet the needs of its activities. In the year 2019120 the Circuit will seek to review ils governan and management structures lo make them more appropriate for the Circuit's mission and activities. King's Hall.. As staled above the King's Hall building remains derelict. This poses public liability risks includlng the risk of occupation by squatters. There is a150 8 risk of reputational darnage and pastoral risk to the bwo churches who previously used the building. In the coming year the Circuit will negtsliate redevelopment. This 111 bring ils own risks both financial and not achieving the desired accommodation. To rniligale all these risks the Circuit has weekly security inspections and public liability insurance. The Circuit is also receiving substantial support from the Methodist connexiona property team, has commi55ioned a Qualified Surveyor's Report lo ensure 'besl value, and has oarelully established 8 governance process in line with Methodist standing orders for the development process. Schools Worf(er Project.. The project's main phase rèached its end during the year and it was decided that for the lime being ils life and work would be expressed through a website. Ils employee resigned having found another post during the year. The Global Pandemic has brought with il a decrease in in¢ome for our member churches and an uncertainly regarding future income. The treasurer and CLT has been moniloring this throughout the period since DAarch Plans for the futur& The Circuit's mission arises from the mission slalement of the Methodist Church of Great Britain. In working this out In the Circuit's particular conlexl, the Circuit aims Its develop a Chrisl-cenlred, confident and clear approach for Circuil-wide mission whilst supporting each ¢hurch in their individual mission in their local neighbourhoods. Within this, in 2020121, the Circuit intends lo.. Organisation Actively look to appoint a further two Circuit Stewards, preferably trom churches who do not yel have representation among the Current group of Circuit Stewards. Appoint a new diaconal minister lo focus on the Circuit's policy and practice for outward-facing mission. Review management structures Develop Planned Maintenance Strategies for Circuit properties. Mlssion Continue to encourage change and renewal of mission culture in the Cirouil Churches. Continue ecumenical mission work with the Anglican churches in Southall re-framing the Soulhall Schools Worker project for the next phase of ils life. Continue and develop the MHA'Live al Home, scheme. Continue Its increase the Circuit's awareness of the need for work with street Sex workers in Soulhall and how that might be achieved to enable the re-eslablishment of the Ruby Project and to look for ecumenical partners to work with the Circuit. Discipleshlp and spiritual development Continue to develop Cir¢uil identity and unity through Circuit events and services and through a partner project fundraising for Christian Aid. Develop discipleship through conversations regarding marriage and relationships and Circuit-wde opportunities for spiritual refleclion and le8rning.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGusf 2020 structure, govern#ncÈ and management The Circuit is governed by the Melhodist Church Act 1976, the Deed of Union and the Model Trust Deeds of the Methodist Church. The Ealing Trinity Methodist Circuit is registered as a charity. The members of the Ealing Trinity Methodi51 Circuit meeting are the Charity Trustees, membership beitYJ made up of circuit office holders, ministers and represenlalwes appointed by the local churches. The principle office address is Kingsdown Methodist Church, Kingsdown Avenue, London, W13 9PR. The Circuit is a group of local churches, some of which are Local Ecumenical Partrierships ILEPS) writh other denominalions. Circuits combine Its form about 30 districts in Great Brilairi. Although there is some autonomy, all Methodist organisalions in Greal Britain are governed by slalules determined by the Melhodisl cOnfence and which are published in the Consts"lulion, Pra¢li¢e and Discipline of the MelhDdisl Church. Conference is the supreme body within the church and it delegates much of its authority lo the Melhodisl Council. Both Conference and Council consist ol lay and derical members. Detailed governance arrangements are outlined within the Conslilulitsnal Practice and Discipline of the Melhodisl Church by order of the Annual Conference ICPDI. The stipends paid lo ministers are set by the Methodi51 Church of Great Britain and are published in the Minute5 01 the Annual Conference. The relationships with other charities and organisats"on5 with thi¢h il co- operates in the pursuit of its ch8rilablÈ objectives.. The Circuit forms part of the London District of the Melhodisl Church, which is itself a part of the ethodisl Church of Great Britain. Schools worker.. Soulhall Anglican Group, All Saints Educational Trust. London District of the Melhodisl Church. Live al Home Scheme.. MHA, London District of the Melhodist Church, London Boi¢)ugh of Ealing. Ecumenical Communion Service.. Holy Trinity Soulhall, London Oio¢ese of the Church of England. Other Partners.. Trussell Trust, Ealing Churche5 Winter Night Shelter, West London Leaders, various Churches Together groups. Day lo day management of the Circuit is undertaken by the Circuit Leadership team along nth the Local Preachers meeting, the Giicuil Finance and Property Committee and the Circuit Policy Committee. Over811 control rests with the Melhodisl Conference. The Connexional Office impl&menls decisions made by Conference and is also responsible for the 51alioning of Ministers in individual Circuits. Connexional decisions are passed lo the Chair of the Dislricl and the appropriate Officers of the District for regional implemenlalion. The Dislri¢ls pass the control down to Circuit level for lo¢al implementation by the Superinlendenl hAinister, Ministerial staff and Circuit Stewards and authority is delegated lo th& Circuit Meeling for certain mallers. The Cir¢uil Meeting passes control down lo Church Councils for local implemenlalion by the Minister, the Church Stewards and other officers and authority is delegated lo Church Cc)un¢ils acb'ng as Managing Trustees. The Circuit Superintendent chair5 meetings of the Circuit Policy Committee ICLCI and the Circuit Meeting, which Trustees are expected to allend. Policy decisions are taken at the Circuit Meeting. The Melhodisl Connexional year runs from 1 September to 31 August. Volunteers undertake the majority of the work of the urcuil and much of ils managemenl.The Circuit Is governed by the Methodist Church Act 1976, the Deed of Union and the Model Trust Deeds of the Melhodisl Church. The Ealing Trinity Melhodisl Circuit is registered as a charity.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 The Trustees who served during the year and up to the date of signaturè of the financial statements were.. Mr5 EslherA¢kah Mr Michael Brown Ms Fleur H81herall Mrs Jane Horwich Mr Gecirge Lafford Revd Susan Male Dr Derek Matthews Deacon Lemia Nkwelah Mr Stephen Sears Mrs Janel Srnilh Revd Shirfyn Toppin Revd Michaela Youngson Revd Rachel Bending Mr Hector Chidiya Mrs Colleen Hicks Rev Oluytrmisi Jaiyesimi Mrs Kathleen Loveridge Mr George Masih Mrs Sylvia Murray Mr George Oliver Ms Louise Singleton Mrs Gill Slandfield Ms Karen Whilehouse hAr Simon Bhatti Mr Colin Halherall Mr Roy Hill Mr Martin Kingsnorth Mrs Janet Malamah-Thomas Mr Harmash Masih Mrs Marion Narain Rev Tasawer Samuel Pandayar Ms Vinelle Small Mr David Street Mr Charles Wiredu Mr Hector Chidiya (removed 20 Feb 2020, re-appointed 21 July 20201 Mr Colin Hatherall (removed 20 Feb 2020, re-appointed 14 Sept 20201 Deacon Theresa Sirnons-sam (appointed 1 Sep 20201 Paul Vvilliams lappoinled 14 Sept 20201 Trustse, Recruitment, Training and Induction Policy All Circuit Trustees are appointed from the Managing Trustees of the Individual churches, who undertake the training and induction of Trustees in accoidance with guidelines from the Charities Commission and Ihe Methodist Church published in the booklet'The Role of a Trustee in the Melhodisl Church. together with further guidelines published by the Methodist Church'managing Trustees and their Responsibilities., "Safeguarding and Creating Safer Space. and"Managing Trustees and Melhodisl Mtsney.. Circuit Trustees having the special duties and responsibilities of Circuit Stewards attend annual induction and refreshment courses organised by the Melhodisl London District Training Team, with further specific training for Stewards having financial. property and safeguarding responsibilities. All Trustees in the Circuit and churches are encouraged to undertake further tr8ining in support of their ministry and the Ciicuil maintains a Training Fund in its budget for this purpose.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Public Benèfit The Trustees have had due regard lo the guidance published by the Charities Commission in compliance with ils duties under section 17 of the Charities Act 2011. This guidance sets out two key principles.. The organisalion musl have an identifiable benefit. The benelil must be to the public or a section of the public The church exists Its.. In¢rease awareness ol God's presence and l(> celebrate God's love., Help people lo learn and grow as Christians, through mutual support and care; and Be good lo people in need and challenge injustice. The Trustees consider th81 for these reasons the Circuit meets these public benefit requirements. Clrcult Lèadèrship Team During the year, the Circuit Leadership Team- the Circuit Mini51erial Staff and Circuit Stewards- met reguL4rly lo keep under review the life ol the Circull and lo lake forward the decisions of the Circuit Meebng. Circuit Meeting Duiing the year, the Circuit Meeting, made up of the CLT, represenlatwes of the Cir¢uits churches and other circuit officers as defined by Methodist CPD met three times lo enact governance and lo keep under review the life and vision trf the Circuit. Circuit stewards Circuit Stewards are Trustees who have volunteered lo assisl the Superinlendenl Minister and the Ministerial staff in implementing the decisions of the Cir¢uit Meeting and decisions passed down from the Districts. Cii¢uil Stewards are appointed by the Circuit Meeting and are unpaid. Induction training is organised by the Districts al the start of the Connexional Year and al other limes as required. Amongst other duties the Circuit Stewards are responsible for Ihe Circuit Finances and the maintenance of Circuit pioperty. Details ol the Superintendent and Stewards can be found on the adminislralion page. Training The Circuit subscribes lo the Importan of the whole people Df God conb'nuing to learn and develop lo aid their deepening discipleship and ministry, and recognises the crucial importance of continuing learning and explor8lion lor the development and growth of all of ils members. A changing society may require new skills and expertise in different areas of knowledge. An authentic personal response to God's mission in the world is enabled through training and development of existing gifts and skills and the acquiring of new ones. In addition lo academic training, giants are available for conferences, relreals. and short courses. Commltments All knoTApn commitments are inciuded in the financial slatemenls. The IrLJStees have paid due regard lo guidance issued by the Gharily Commission in deciding what activities the trust should undertake. The Trustees, report was approved by the Board of Trustees. Revd Rachel Bending ISup&rintendenti Trustee Dated..
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2020 The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustee5 to prepare financial slalemen15 for each financial year which give a true and fair view of the slate of affairs of the Circuit and of the incoming resources and application of resourctts of the Circuit for that year. In preparing these financial slalemen15, the Tiu$le&s are required to.. select suitable 8ccounb.ng policies and then apply them consislenlly.. observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., stsle whether applicable accounting 51and8rdg have been followed, subject to any material departures disclosed and explained in the financial $18lements,' and prepare the financial slalemenls on the going conrn basis unless it is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible foi keeping sufficient accounting records that disclose with reasonable accuracy at any lime the financial pogilion of the Circuit and enable them lo ensure that the finanaal statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions ol the trust deed. They are also respL)nsible for safeguarding the assets of the Ciicuil and hence for taking reasonable steps for the prevenlic)n and detection of fraud and other irregularities.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) Opinion We have audited the financial slalemenls of Ealing Trinity Circuit of the Methodist Church 135r241 Ilhe 'Cir¢uil'} for the year ended 31 August 2020 which comprise the slalemenl ol financial aclivilies. the balance sheet, the statement of cash flows and the notes lo the financial statements, including a summary of significant ac¢oLJnling policies. The financial reporting fiamework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Sl&nd8rd applicable Ihe UK and Repiiblic ollreland (United Kingdom Generalty Accepted Accounting Praclicel. In our opinion, the financial slalemenls.. give a true and fair view of the state of the charity's affairs as al 31 August 2020 and of ils incoming resources and application of resources, lor the year then ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Pradice: and have been prepared in accordance with Ihe requirements of the Charities Act 2011. Basis for opinion We conducled our audit in accordance with International Sl8ndards on Auditing IUKI IISAS IUWI and applicable law. Our respon5ibililies under those standards 8re further described in the Audilorfs responsibilities for the audit of the financial statements section of our reptsrt. We are independent of the Circuit in accordance wlh the ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these r&quiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating lo going concern We have nothing lo report in respect of the following matters in relation lo which the ISAS IUKI require us to report lo you where.. the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is not appropriate., or the Trustees have not disclosed in the financial slalemenls any identified material uncertainties that may cast significant doubl about the Circuit's ability lo continue lo adopt the gtsing concern basis of accounting for a period of al least twelve months from the date when the financial slalemenls are aulhorised for issue. Olhèr information The other information comprises the information induded in the annual report other Ih8n the financial slalemeNIs and c)ur auditor's report Ihereon. The Tru51ees are responsible for the other information. Our opinion on the financial Statements does not cover the other information and we do not express any form of assurance conclusitsn thereon. In connection with our audit of the financial slalemenls, our responsibility is lo read the other information and, in doing so. consider whether the other infofm3lion is materially inconsislenl with the financial slalements or our knowledge ob18ined in the audit or othenlSe appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslalements, we are required lo determine whether there is a material misstatement in the financial slalements or a material misslalemenl of the other information, If, based on the work we have performed. we ctsn¢lLJde that there is a material misstalemenl of this other information, we a required lo report that fact. Vve have nothing lo report in Ihls regard.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) Matters on which w8 aro required to report by Èxcèption Vve have nothing lo report in respect of the following matters in relation lo which the Charities (Accounts and Reports) Regulations 2008 require us lo report to you if, in Dur opinion. the informab'on given in the financial slalemenls is inconsistent in any material respect with the Trustees, report., or sufficient accounting records have not been kept,, or the financial slalements are not in agreement with the a¢¢ounting records., or we have not received all the information and explanations we require for our audit. Responsibilitiès of Trustees As explained more fully in the slalemenl of Trustees, responsibilities, the Trustees are responsible lor the preparation of the financial statements 2nd for being satisfied that they give a true and fail view, and for such internal control as the Trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial slatemenls, the Trustees are responsible for assessing the Circuit's ability lo continue as 8 going concern, disclosing, as appli¢able, matters related lo going conrn and using the going concern basis of accounting unless the TrLislees either intend lo cease operations, or have no realistic alternative bul to do so. Auditor's responsibilltles for the audit of the finan¢ial ststèmants We have been appDlllted 8$ auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free from materi81 misstalemenl, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an 8udit conducted in accordance with ISAS IUKI will always delecl a material misstatement when il exists. Misstatements can arlse from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the econornic decisions of users taken on the basis of these financial slalemenls. A further de5ciiplion of our responsibilities for the audit ol the financial slalemenls is located on the Financial Reporting Council's website al. hllps.'Ilww.frc.org.UJauditor$re$ponslb1lI1les. This description fomis part ol our auditor's report. 10-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) Use of our report This report is made solely to the charity's Iruslees, as a body, in a¢¢ordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charity's Iruslees those mallers we are required to state to them in an auditors, report and for no other purpose. To the fullest exlenl peimilled by law, we do not accept 01 assume responsibility lo anyone other than the charity and the charity's trustees as a body, for our audit work, for this report. or for the opinions we have formed. Nicholas Cord8n ACA (Senior Statutory Auditor) for and on behalf of Summers Morgan 15th June 2021 Chartered Account8nts Statutory Auditor First Floor, Sheraton House Lower Road Chorleywood Hertfordshiro VVD3 5LH Summers Morgan is ellgible for appointment as auditor of the Circuit by virtue of ils eligibilty for appointment as auditor of a company urider of section 1212 of the Companies Act 2006.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2020 UnrestriGtÈd Rèstricted funds funds 2020 2020 Total Unrestricted Restricted funds funds 2019 2019 Total 2020 2019 Notes Income and e dowmÈnts from: Donations and legacie5 CircLJit assessment Rental income Investments Other income 70 189,814 31,25fl 76,767 3,984 30,000 30,070 189,814 31,250 76,767 4,306 543 195,251 25,000 84,036 930 30.000 30,543 195,251 25,000 84.036 930 322 Total income 301,885 30,322 332,207 305,760 30,000 335,760 Charitable activities 400,445 31,633 432,078 408,026 35,227 443,253 Net outgoing resources 198,5601 199,8711 1102,2661 15,2271 1107,4931 other recognlsed gains and losses Revaluation ol investment properties 174.000 174,000 Net movement in funds 75,440 11,3111 74.129 1102,2661 {5,2271 1107,493) Fund balances al 1 September 2019 4,781,137 14,557 4,795,694 4,883.403 19,784 4,903.187 Fund balances at 31 August 2020 4,856,577 13,246 4,869,823 4,781.137 14,557 4,795,694 The slalemenl of financial activities includes all gains and losses recognised in the year. All Income and expenditure derive from continuing aclivilies. 12
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) BALANCE SHEET AS Af31 AUGUST 2020 2020 2019 Notes Flxèd assets Tangible assets Investment properties 13 14 1,642,917 2,959,000 1,642,917 2,785,000 4.601.917 4,427.917 Current assets Debtors Cash at bank and in hand 15 4,215 340,537 5,208 437,919 344,752 443,127 Crèditors: amounts falllng due wlthin one year 16 176,846) 175,3501 Net current assets 267,906 367,777 Total assets less current liabilities 4,869,823 4,795,694 Income fund5 Reslricled funds ted funds General unrestricted funds Revaluation SerVe 17 13,246 14,557 1,921,577 2,935,000 2,020,137 2,761,000 4,856,577 4,781,137 4,869,823 4,795.694 The financial statements were approved by the Trustees on Revd Rachel Bending ISuperinlendent} Trustee 13-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2020 2020 2019 Notes Cash flows from operatlng activitigs Cash absorbed by (>perations 20 1174,1491 1188,805) Investing activitie5 Investment income received 76,767 84,036 Net cash generated from investing actlvltles 76,767 84,036 Net cash used In financing activities Net decrease in cash and ¢a$h equivalgnts {97,3821 1104.7691 Cash and cash equivalents al beginning of year 437,919 542,688 Cash and ¢a$h èquivalants at end of year 340,537 437.919 14-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020 Accounting policies Charity informatlon Ealing Trinity Circuit of the Methodist Church1351241 is an unincorporated Charity in England and Wales. 1.1 Accounting convention The financial slalements have been prepared in accordance with the Circuit's Igoverning documentl, the Charities Act 2011 and Accounting and RepLlrting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 leffeclive 1 January 20191" The Circuit is a Public Benefit Enlily as defined by FRS 102. The financial s18lements have departed from the Charities (Accounts and Reports) Regvlations 2008 only lo the exlenl required lo provide a Iiue and fair view. This departure has involved following the Slalemenl ol Recommended Practice for charities applying FRS 102 rather than the version of the Slalemenl of Recommended Practice which is referrell lo in the RegLJlalions but which has since been withdrawn. The financial slalements are prepared in slerfing, which is the functional currency of the Circuit. Monetary amounts in these financial slalemenls are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention, modified lo indude the revaluation of freehold properties and to include investment properties and certain linanclal instruments at fair value. The principal accounting pollcies adopted are set out below. 1.2 Going concern Al the time of approving the financial slalemenls, the Trustees have a reasonable expectation that the Circuit has adequate resources lo ¢ontinLJe in operational existènce for the foreseeable future. Thus the Trustees continue lo adopt the going concern basis of accounting in preparing the financial slalements. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the Iiustees in furtherance of their charitable objective5 unless the funds have been designated for other purposes. Restricted funds are subject lo specifi¢ condilicins by donors as lo how they may be used. The PUTposes and use5 of the restricted funds are set out in the notes lo the financial slalements. 1.4 Income Donations and legacies are accounted for when enlillement has been confirmed, the amount can be measure and receipt is probable. The Circuit's assessments are accounted lor on a receivable basis,. when the Circuit becomes enlilled ID the resources, the trustees are virtually certain they will receive Ihe resources and the monetary value can be measured with sufficient reliability, Rents received on manses currenlty unoccupied by a Minister and so available for lelling are accounted for on a receivable basis. Grants receivable are included when the relevant conditions for the grant have been mel. Investment income is accounted lor on a re¢eivable basis. other incorne is accounted for on a receivable basls. 15-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Accounting policies Icontlnuedl 1.5 Expendlture All expenses are accounted for on an accruals basis. This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an tsulllow of economic benefit is considered more likely than not undèr the legal r>r Constructive obligation committing the Circuit lo pay out resources. 1.6 Tangible fixed assets Land and buildings are stated at cost or in the case of donated assets al valuation al Ihe date that the assets are gifted to the Circuit. The Tiuslees consider that the lives of the properties are so long and their residual value5 $0 high based on prices prevailing at the time ol acquisition that any annual depreciation charge would not be material. Accordingly, no depreciation is prtsvided on freehold properties used for charitable aclivilies. Any material impairment in the value of such properties, following an annual review, would be chargeable Its the Stalem&nl of Financial Ath'vities. Plant and machinery having an initial cost greater than £1,000 are capilalised and slated at cost less depreciation. Depreciation is recognised so as to write off the cost or valuation of assets less Ihelr residual values over their useful lives on the following bases.. Plant and equipment 33.33% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the a55el, and is re¢ognised in net incomellexpendilurel for the year. 1.7 Investment properties Investment properties, which are residential propeth"e$ held to earn rentals andlor for capital appreciation. and which aTe surplus lo staffing requirements, are inilially measured at C051 and subsequently measured using fair value model and slated al ils fair value as the reporting end dale. The surplus or delicil on revaluation is recognised in the Statement ol Financial Acliwties. 1.8 Impairment of fixed assets Al each reporting end dale, the Circuit reviews the carrying amounts of ils tangible assets to d&lermine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is eslimaled in order to determine the exlenl of the impairrnenl loss anLI any impairments are recognised in the Ststemenl of Financial Aclivilies. 1.9 Cash and cash equivalènts Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-lerm liquid investments wth original maturities of three months or less. 1.10 Financial instruments The Circuit has ele¢led lo apply the provisions of Section 11 'Basic Financia5 Inslrumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils finan¢ial instruments. Financi81 instruments are recognised in the Circuit's balance sheet when the Circuit becomes paty lo the contractual provisions ol the insliument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalemenls, when there is a legally enforceable right lo sel off the re¢ognised amounts and there is an intention lo selU& on a nel basis or to realise the asset and settle the liability simultaneously. 16-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 A¢countlng policies (Continued Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially rneasured al transaction price including transaction costs and are subsequently carried al amort15ed cost using the effective Interest method unless the arrangement conslilules a financing Iransaclion, where the transaction is measured al the present value of the future receipts discounted al a market rale of interest. Financial assets classified as ieceivable wlhin one year are not amortised. Basic financial liabllltles Basic fin8nci81 liabilities, including creditors and bank loans are inillally recognised al transaction price unless the arrangement conslilutes a financlng Iransaclion. where the debt instrument is measured at the present value of the future payments discounted al a market rale of interest. Financial liabilities classified 8$ payable within one year are not amortised. 1.11 Taxation Since the Circu1t is not VAT registered, all input VAT is charged th the expenses tr) lch il refer5. 1.12 Employee benefits The cost of any unused holiday enlillemenl is recognised in the period in which the employee's services are received. Termination benefits are recognised immediatety as an expense when the Circuit is demonstrably commilled to terminate the employrnent of an employee or to provide terminaliDn benelrts. 1.13 Retirement bènèflts Slipendi8ry Circuit Ministers are eligible to join the Methodist Ministers, Pension Scheme IMMPSI. The MMPS is a funded defined benefit scheme maintained by The Melhodisl Church of Great Britain. As the Circuit is unable lo identify its share of the underlying assets and liabilities of the scheme, the Circuit has taken the advantage of the exemption in Financial Reporting Standard 102 Retirement Benefits. and has accounted for ils contributions to the scheme as if il were a defined contribution s¢hème. The pension costs for the scheme represent the contribution payable by the Circuit in the year. The contribution rates are set each year by the Melhodisl Conference. 1.14 Grants Grants made by the Circuit from ils own funds are recognised in full al the lime of agreement or when the Circuit accepts that there is a legal or operational obligation lo make the payment. Vvhen the gr8nl is recurn1 tsver 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 provislon being released in lulure years as inslalments are paid in accordance with the originally agreed terms. 1.15 Ministers. manse Costs The Circuit is required to provide accommodation for each minislei in the Circuit and this is a benefit lo the Circuit. Ministers are expected lo occupy the manse provided for them. The Circuit bears the cost of repairs, maintenance, buildings insurance, Council lax and water charges. These figures are not separately de¢lared as benefils•in-kind for ministers as HMRC does not tax these receipts in the hands of ministers. 1.16 Con$olldatlon The Circuit has denominational regulatory oversight in respect of the work of the Churches within the Circuit bul has no legal or operational control of those Churches and their governing bodies except in exlieme circumstances. For this reason, the financial statements of Churches wlhin the Circuit are not consolidated into these financial statements. 17-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Crltlcal accounting estimates and judgements In the application ol the Circuit's accounting policies, the Trustees are required lo make judgements, estimates and assumptions abtsul the ¢arrying amount of assets and liabilitie5 that are not readily apparent from other sources. The estimates and associated assumption5 are based on historical experience and other factors that are considered lo be relevant. Aclu81 results may differ from these eslimales. The estlmales and underlying assumptions are reviewed c)n an ongoing basis. Revisions lo accounting estimates are recognised in the period in which the eslimale is revised where the revision affects only that period, or in the period of the revision and future periods wherè the revision affects both current and future periods. Circuit assessment UnTrstrictèdUnrgstricted Funds Funds 2020 2019 Aclon Hill Methodist Church Ealing Green Melhodisl Church Greenford Melhodisl Church Hanwell Methodist Church King's Hall Methodist Church Kingsdown Methodist Church Northoll Methodist Church Pilshanger Methodist Church 25,073 39,593 35,373 25,723 4,530 33,030 14,200 12,292 24,389 38,514 34,409 25,022 42,958 18,000 11,959 189,814 195,251 Rental income Unrestrictsd Unreslricled funds funds 2020 2019 27 Rosemonl Road 31,250 25,000 18-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDy FOR THE YEAR ENDED 31 AUGUST 2020 Investments Unrèstricted UnreslrÈcled funds funds 2020 2019 Interest Income from investment properties 2,980 73,787 3,578 80,458 76.767 84,036 Other income Unrestrlcted Restrlcted funds ftjnds Total Unreslriled funds 2020 2020 2020 2019 Other income 3 Generation Urdu Speaking Minister 334 334 322 3.650 930 322 3.650 3.984 322 4,306 930 19-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2020 Charitable actlvltles 2020 2019 Stsff costs Dislriol assessment Expenditure on manses Expenditure on Cii¢uil properties Other expenditure District advance fund 267,758 4fj,084 41,224 7,835 43,440 13,722 279,421 38,704 52,974 22,476 11,884) 21,565 415,063 413,256 Grant fvnding of acliwties (see note 81 1,296 14,423 Share of support costs Isee note 91 Share of governance costs (see note 91 5,172 10,547 4,774 10,800 432,078 443,253 Analysis by fund Unrestricted funds Reslrieted funds 400,445 31,633 408,026 35,227 432,078 443,253 Grants payablè 2020 2019 Grants lo institutions.. London Citizens Kings Hall Melhodisl Church NSPCC Beyond the Street 1,200 1,200 13,000 199 24 96 1,296 14,423 -20.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 Support costs Support Govèmanc• costs costs 2020 Support Governance costs costs 2019 Printing, postage and stationary Sundry Payroll service TMCP management fee Bank Charges 1,938 1,849 480 742 163 1,938 1,849 480 742 163 3,185 60 480 915 134 3,185 60 480 915 134 Audit fees Accountancy 5,547 5,000 5,547 5,000 10,800 10,800 5,172 10,547 15,719 4,774 10,800 15,574 Analysed between Charitable activities 5,172 10,547 15,719 4,774 10,800 15,574 Governance costs includes payments lo the audilors of £10,547 12019., £10,800) comprising £5,547 for audit fees and £5,000 for siatulory accounts production. 21
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 10 Trustees The Superinlendenl of the Circuit. the other Presbyters and the remaining member5 of the CLT are considered as Key Management Personnel. The Superintendent chairs meetings of the CLT and Circuit Meetings. The members of the Circuit Meeting are the Iruslees of the Circuit. The slipends, employer's NIC and employer's pension conlributs.ons and other expenses of the Presbyters of the Circuil a paid by the Circuit. The manses are provided by the Circuit and the Circuit maintains the property. The value of the Council Tax and water charges paid by the Circuit is not disclosed here a5 HMRC does not regard this as a benefil-in- kind in the hands of the minister. Remuneration.. 2020 2019 Stipends of Presbyters Employer's National Insurance contributions Employer's pension contributions lo a defined benefit pension scheme 130,788 130,358 13,274 13,496 33,812 35.795 177,874 179,649 The reimbursement of Trustees, expenses were as follows.. 2020 2019 Travel Telecommunications Postage, printing & stationary Relocation Training 1,666 6,393 45 2,202 5,346 378 600 1,524 646 8,750 10,050 11 Employees The average monthly number of employees during the year wa5.. 2020 Number 2019 Number Ministers Lay and adminislralive staff Total 10 10 Employment costs 2020 2019 Slipends Wages and salaries 128,941 62,171 130,358 70,120 -22-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 11 Employees Icontinuedl Social security costs Other pension costs 16,977 35,872 17,319 38,218 267,758 279,421 Slipencls were paid to 5 Presbyters and were as follows.. The Circuit employs lay staff involved in both Administration and Mission work. The costs of these staff are shown below in their separate categories. No employees received employee benefits of more than £60,000. There is no accrual for holiday pay as il is immaterial,. the holiday year ends on 31 August. All stsff are paid al or above the living wage. Pensions Most ordained presbyters and deacons are members of the Melhodisl Ministers, Pension Scheme {MMPSI. This is a defined benefit scheme. The Supreme Court held in 2014 that Melhodisl ministers {which term includes presbyters and deacons) are not employees of the Church. For simplicity. however, when dealing with National Insurance Contributions and pension conlribulions, the terms 'employer' and 'employee' are used as they would be in an employing body. On the other hand lay employees are contractually employees and have the option of joining the Pension and Assurance Scheme for Lay Employees of the Melhodisl Church IPASLEMCI. PASLEMC is a defined benefit scheme and the Circuit contributes as employer to this scheme. The Connexion accounts for both the MMPS and PASLEMC pension schemes and shows the th'gures in the annual Melhodisl Church in Great Britain accounts. Both pension heMeS are in deficit bul a plan for removal of the deficit has been proposed and is being implemented. Details of the delicils ¢an be found in the Annual Report and Accounts ol The Methodist Church al hllps."1lw.meth0d1Sl.org.Ukl media1205381119&consolidaled-report-and-accounls-2021-v7b.pdl. 12 Key management personnel The Circuivs key rnanagemenl personnel are the ordained ministerial staff as listed on the legal and adminislalive page. The only remuneration they receive directly from the circuit is the reimbursement of expenses. Their stipends are paid by the National Methodist Church bul funded in full by the Circuit and are published in the minutes ol the Annual Conference. Cir¢u&t Stewards make up the other half of the management team. They work on a voluntary basis and only receive occasional reimbursement of expenses. The lotsl amount of the employe& benefits (including employer pension contributions received by the k&y management personnel for their services lo the Circuit was £177,87412019' £200,572). -23-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 13 Tangiblè fixèd assets FreÈhold land and buildings Plant and equlpmenl Total Cost At 1 September 2019 1.642,917 3,938 1,646,855 Al 31 August 2020 1,642,917 3,938 1,646,855 Deprèciation and impairnient At 1 September 2019 3,938 3,938 At 31 August 2020 3,938 3,938 Carrying amount At 31 August 2020 1,642,917 1,642,917 At 31 August 2019 1,642,917 1,642.917 14 Investment property 2020 Falr value At 1 September 2019 Nel gains or losses through fair value adjustments 2.785,000 174,000 Al 31 August 2020 2,959,000 Investment properties comprlse four flats al Havelock HL)use and the properties al 37 and 39 Newton Avenue. The Trustees obtained an independent professional valuation for these properbes in the year ended 31 August 2015. During the year the Trustees used the House Price Index average movement for flats and maisonelles in the Borough of Ealing lo revalue the investment properties owned by the Charity. The carrying amount of the investment properties if valued al its original cost would have been £24,900 {2019'. £24,900). 15 Dfrbtors 2020 2019 Amounts falling due within one year: Prepayrnenls and accrued income 4,215 5,208 -24-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 16 Creditors: amounts falling due within one year 2020 2019 Notes Deferred income Accruals and deferred income 46,528 30,318 46.085 29,265 76,846 75,350 Deferred income arises from Circuit assessments received in advance of the period lo which they relate. 17 Restricted funds The income funds of the charity include reslricled funds comprising the following unexpended balances of donations and grants held on Irusl for specific purposes.. Movement in funds Incoming Rè$our¢Ès Balance al r8$oureo5 XPend 1 gpptember 2D19 Movement in funds Incomlng Resour¢e$ rÈsourtÈs expended Balante at 1 Septernbgr 2018 Balance at 31 Auyust 2020 Benelovenl fund School-R K1-Fulure 3 generation 1,502 S,086 12,196 1,502 1,633 11,422 1,502 30.000 134,4531 17741 30,000 131,6331 11,422 322 322 19,784 30.000 135,2271 14,557 30,322 131,6331 13,246 8&nevoEent fund.. Circuit Benevdenl Fund- Support for individuals in specific need. School-R.' The Circuit re¢eived restricted grants from All Saints Educational Trust of £15,000 and London DioTrse of the Church of England of £15,000 to cover the cost of a Christian worker is employed lo visit and witness lo staff and pupils within South311 S¢hool. K1-Futurè'. Kings Hall IK11 Future Church fund represents funtls received lor the re-estsblishment of a church al the Kings Hall sile. -25.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2020 18 Analysis of net assets been funds UnrestrScted Re$trlcted funds funds 2020 2020 Total Unreslricled Reslricled funds funds 2019 2019 Total 2020 2019 Fund balances at 31 August 2020 are represented by.. Tangible assets Investment properties Current asset 1,642,917 2,959,000 1,642,917 1,642,917 2,959,000 2,785,000 1,642,917 2,785,000 254,696 9,238 267,906 353,220 14.557 367.777 4,856,613 9.238 4,869,823 4,781,137 14,557 4,795,694 19 Related party transacllons None of the Circuit Trustees made donations direct lo the Circuit during the year or the pcedIng year. The Clrcuil Trustees are members of one or another church wlhin the Circuit and may be Trustees in their churches. Related parties include the Methodist Connexion, the London District and churches within the Circuit, other Methodist Districts in Gre* Britain, the Central Finan Board ICFBI and Trustees for Melho(Jisl Church Purposes ITMCPI. There were no related party transactions in the year under review other than those disclosed elsewhere in the notes. 20 Cash generated from operations 2020 2019 Surpluslldeficill for the year 199,8711 1107,4931 Adjuslmenls for.. Investrnenl income recognised in slalemenl of financial activities 176,7671 184,036} Movements in working capital.. Decrease in debtors Increaselldecreasel in creditors Increase in deferred income 993 1,053 443 6,545 15,8041 1,963 Cash absorbed by operations 1174,1491 1188,8051 21 Analy$ls of Changes In net funds The Circull had no debt during the year. -26-