Charity Registration No. 1134040 EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) LEGAL AND ADMINISTRATIVE INFORMATION Clrcult Mlnlstors Revd Rachel Bending Isuperinleiidenll Rtrvd SLtsan Male Revd Theresa Slmons-sam (Appointed 1 Seplemb$r 20201 Revd Shirlyn Toppln Revd Michaela Youngson (Co-chair ol London Dislricl Eslher Ackah Alexander Anteyi Simon Bhatli Michattl Brown Hector Chidiya Marion Garnelt Colin Halherall Fleur Haiherall Colleen Hicks Roy Hill Jane HOwh George Lallord Kathleen Loveridge Marlin Kingsnorth Janel Malamah-Thomas George Masih Harmash Masih Derek Mallhews Sylvia Murray Marion Narain George Oliver Stephen Sears Louise Singleton Vinnelle Small Janel Smilh David Street Karen Whilehouse Paul Williams Charles Wiredu Lay Trustees (Appoinled 24 March 20211 (Resigned 14 Sep 20201 (Appointed 21 July 20211 (Appointed 14 Sept 20201 Resigned121 July 20211 Re5igned121 July 20211 ResSgned121 July 20211 IAppoinled 14 Sept 20201 Clrcull Stewards Kathleen Loveridge Stephen Sear5 (Treasurer) Jane Horwich Fleur Halherall Charily number 1134040 Audltor Summers Morgan First Floor, Sheraton House Lower Road Chorleywo(Kl Herilordshire WD3 5LH
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) LEGAL AND ADMINISTRATIVE INFORMATION Bankèrs Barclays Bank Pl¢ Ealing Branch Leicester LE87 2BB Investment advisors Central Finance Board of the Methtsdisl Church 9 Bonhill Street London EC2A4PE Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) CONTENTS Pagè Trustees, report Slalemenl of Trustees. responsibilities Independent auditor's report 9- 11 Statement of financial activities 12 Balance sheet 13 Slalement of cash flows 14 Notes lo the financial slalemenls 15-27
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2021 The Trustees present their report and financial statements for the year ended 31 August 2021. The Trustees have adopted the provisions of the Slatemenl of Recommended Piaclice ISORP) "Accounting and Reporting by Chaiilies. IFRS 1021 in preparing the annual report and financial statements of the charity. The financial statements have been wepared in accordance with the accounting policies set out in note 1 10 the financial statements and comply with the Circuit's governing doGument, the Charities Act 2011 and "Accounting and Reporting by Charities.. Slalemenl of Recommended Practice appli¢able to charities preparing their accounts in accordance wlh the Financial RepDrting Standard applicable in the UK and Republic of Ireland IFRS 102) leffe¢tive 1 January 20191" Objectivès and activities The charity's objective is lo act as a source provider within the area around Ealing for the Melhodisl Church. The purposes of the Melhodisl Church are and shall be deemed lo have been since the Dale of Union the advancement of.. The Christian faith in accordance with the doctrinal standards and the discipline of the Melhodisl Church.. Any charllable purpose for the lirne being of any Connexional. District, Cir¢uit, local or other organisalion of the Methodist Church", and Any charitable purpose for the time being ol any society or institution or subsidiary to the Methodist Church. The tsrganisatDn and resourcing of regular public ac15 of worship open to members of the church and non-members alike. The teaching of Chrislianily through sermons, courses and small groups. The resourcing of pastoral work including visiting the si¢k and bereaved. Taking religitsus assemblies in local schools. Promotion of Christianity through the staging of events and services. Provision of chaplaincy ServIS lo the local university and other inslilulions. Aims and activities The Circuit's mission is to be a powerful spiritual inflLJence in the community and a visible expression of God's nclusive love. We aim lo achieve this by encouraging, IhrLiugh the chur¢hes in Our Circuit, the worship, Social, and outreach aclivilie5 that currently exist., seeking new ways lo extend to others the fellowship of the Church family,. and throLJgh these lo develop the life of the Circuit and ils churches. Aims and activities within the objectives and purposes are.. To resource worship in each of the churches and congregations of the Circuit and in a weekly ecumenical a¢t of worship in Soulhall. To hold worship and social gatherings for the whole circuit gaIhtrd as one on al least 4 occasions each year. To ies¢)urce regular events lo develop discipleship, knowledge and piaclice of faith., To provide a ministerial staff lo support, organise and cartt for those volunleers who offer pastoral care within our churches and indeed lo provide pastoral care thernselves. To offer training on pastoral care, safeguarding elc.. To offer training lo offieers, both volunteers and employed, to enable their development and the practioe of their tasks within the organisalion., To identify missiDnal needs and lo work with partners lo fulfil them", To provide town centre chaplaincy in Greenfoid alongside ecumenical partners.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 The gnificant activities which have contributed to the achievement of aims and objectives.. Worship has been regularly held in each of the Cir¢uil's churches and congregations or online The Circuit has led and resourced Bible Studies and be9un a discipleship development programme in ortler lo help our members deepen their lailh and practice The Circuit actively supports the work ol various social mission projects in which we are a partner. including Foodbanks, Nightshelters, and a scheme offering support, Social interaction, exercise elc. lo the elderly living in their Own homes. These are supp(>rted financially through grants bul also through the time and allenlion of our members. The achievement of these aims will further our primary purpose to advance the Christian faith by bringing people into contact with the Melhodisl Church in our area. The Circuit uses reflective practice lo a55èss and develop its work. This lakes place wlhin the Circuit Staff Meeting, the Circuit Policy Committee and the Circuit Stewards Meeting. Given the nature of the Cir¢uil's aims and objectives, the Circuit does not sel criteria or measures ID assess success. 11 will continue lo promote its aims regardless of any lernporary setbacks. The Trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the Circuit should undertake. Achievements and performance The Circuit Stewards are pleased to report on how these oblectTves have been pursued during 2020121.. The Circuit has continued to encourage missional thinking and involvement through night shelter projects, Food Bank. the Live al Home Scheme and a new project raising money for Christian Aid. This last named h8s succeeded in engaging a wde cross-seclion of the Cir¢uil with enthusiasm. Circurt identity and unity has visibly improved in and through an increasingly successful series of Circuit Services and even15 planned jointly by the team of ordained ministers. The Cirouil has begun to create a plan for future mainlenan¢e using quinquennial inspection reports as a base. Due lo the complexity of the Circuit's properly porlfolio this has not been 8$ straightforward as had been hoped. The Circuit conlinues to seek ways lo move this forward. The Circuit has responded lo the changes in working practices demanded by COVID 19 by prtsviding video worship and wtsrship on Zoom, Zoom Bible Studies and discussions and by supporting churches as they created risk assessments elc lo ensure their activities are COVID secure. Due to the global pandemic the Circuit has moved many of ils govemance activities online and has adapted its procedures as necessary in line with Melhodisl CPD and the advice from the Melhodisl Connexional Team. Review of the yèar The Circuit prepares aceruals financial stalemenls. The Circuit budget is prepared by first anlicipaling the expenditure for the forthcoming year and then deleimining, in discussion with the individual ¢hurches, how that sum will be raised. Normally about 700/0 of the Circuit income comes from the individual churches within the Circuit by means of an Assessment agreed with each church.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Financial review The value of Circuit funds as al 31 August 2021 was £5,872,890, which is a increase of £1,003,067 frtsm the previous year. The Circuit does not use perfomance indicators lo measure 'oulpuls' as these are not appropriate for the type of activities undertaken by the Circuit. The principal sources of funds are assessments paid by churches within the Circuit and income from let properties. These finance ministers, stipends and the general running costs of the Cir¢uit. Funds held by the circuil are invested with the Trustees for Melhodisl Church Purposes nationally in accordance wlh the s(>cial investment policies of the Melhodisl Church. Pro erties The King's Hall, Southall King's Hall has remained Closed since 2013 as the building had become Ljnsafe for public use. Two churches worshipped al Kings Hall, an English language congregation on Sunday mornings and an Urdu-speaking congregation on Sunday afternoons. Follong the closure. the morning Congregation joined Kingsdown M&lhodisl Church as a 'Class Meeting. and worship tsn Sunday mornings at Hanwell Methodist Church. The afternoc)n, Urdu-speaking congregation hold their worship in the premises of a nearby school, which they renl. The Circuit is in negotiation with a developer lo redevelop the sile lo provide Church and community space and affordable residential accommodation. Gran Grants lot811ing £796 were awarded during the year. Other notes During the year the Circuit was a member ol the Association ol Church Accountants and Treasurers. The repairs and maintenance expenditure during the year on property was wrillen off and not capilalised. Al no lime during the year was the Circuit insolvent either in terms of ils assets or in leims of its ability lo pay its debts as they became due. Reserves Policy The Circuit believes that il should ensure that il has reserves suffioienl to cover the stipends and employm&nl ¢Dsis of ils Presbyters, Deacons and part-lime Adrninislralors for the lull ensuing year but not lo meet any redundancy pay should this be payable. This sum is eslimaled al £199,200 lor the next financial year. Al the balance sheet dale the Circuit held £556,939 in reserves,. 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 District Assessments. are eslimaled al £71,934 for a full year. The Circuit deems il prudent lo hold sufficient lo cover these costs for six months, i.e. £35,967. The lolal of these possible costs is £235,167.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Principal risks and uncertainties The ongoing financial deficit.. In seeking to minimise this risk the ¢ir¢uf( reduced its staffing by one ordained presbyter in September 2020 and is in the process of carefully reviewing its budgets and raising awareness of the problem across the Circuit. Management and adminislralive slruclure.. Al present the Circuit's organisation does not have the capacily or structure lo meet the needs of its activities. The Circuit ¢onlinues to review ils governance and managemenl structures to make them more appropriate lor the Circuit's mission and activities. King's Hall.. As slated above the King's Hall building remains dereli¢l. This ptsses public liability risks including the risk of occupation by squatters. There is also a risk of reputational damage and pastoral risk lo the churches who previously used the building. In the coming year the Circuit will negoliale redevelopment. This will bring ils own risks both financial and the possibility of not achieving the desired accommodation. To rniligate all these risks the Circuit has weekly security inspe¢lions and public liability insurance. The Cir¢LJiI is also receiving subslanlial support from the Methodist connexional pioperty team. has commissioned a Qualified Surveyor's Report lo ensure 'besl value, and has ¢arelulSy established a gLiv&inance process in line with Methodist stsnding orders lor the development process. The Global Pandemic has brought with il a decrèase in income for our member ¢hui¢hes and an uncertainly regarding future income. The treasurer and Circuit Leadership Team has been monitoring this throughout the period since March. Plans for the future The Circuit's mission arises from the mission slalemenl of the Methodist Church of Great Britain. In working this out in the Circuit's particular context, the Circuit aims lo develop a Christ-cenlred, confident and clear approach for Circuil-wide mission whilst supporting each church in their individual mission in their local neighbourhoods. Wlhin this, in 2020121. the Circuit intends lo.. Organisalion Adively look lo appoint a further two Circuit Slewdrds, preferably from churches who do not yel have representation among Ihe current group of Circuit Stewards Review management structures Build on the development of Planned Maintènance Strategies lor Circuit properties. Mission Continue lo encourage change and renewal of mission culture in the Circuit churches. Review mis510n work in the light of the significant Ghanges in society brought by the las12 years. Seed new mission inilialives in local churches responding lo needs in their communities Continue and develop the MHA'Live al Home, scheme. Dlscipleship and spiritual development Continue lo develop Circuit identity and unity through Circuit events and services Develop discipleship through Circuit-wide opportunitiès for spiritual reflection and learning
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 Structure. governance and management The Circuit is governed by the Melhodisl Church Act 1976, the Deed of Union and the Model Trust Deeds of the Methodist Church. The Ealing Trinity Melhodisl CircLJit is registered as a charity. The members of the Ealing Trinity Melhodisl Circuit rneeting are the Charity Trustees, membership being made up of circurt office holders, ministers and representatives appointed by the local churches. The principle oftice address is King5down Methodist Church, Kingsdown Avenue, London. W13 9PR. The Circuit is a group Of local churches, some of which are Lo¢al Ecumenical Partnerships {LEPs} th other denL)minations. Circuits combine lo form about 30 dislricls in Great Britain. Although there is some autonomy, all Melhodisl organisations in Great Britain are governed by statutes determined by the Methodist Conference and which are PLJblished in the Conslilulion, Pra¢li¢e and Discipline ol the M&thodisl Church. Conference is the supreme body within the church and it delegates much of ils authority to the Melhodisl Council. Boih Conference and Council consist of lay and cleric31 members. Detailed governance arrangements are oulSined within the Constilulional Practice and Discipline of the Melhodisl Church by order of the Annual Conference ICPDI. The stipends paid lo ministers are set by the Melhodisl Church of Great Britain and are published in the Minutes of the Annual Conference. The relationships with other charities and oig8nisalions Milh which il co- operates In the pursuit of ils ch8ritsble objectives.. The Circuit fc>m)s part of the London District of the Melhodist Church, which is itself a part of the Melhodisl Church of Great Britain. Schools woiker.. Soulhall Anglican Group. All Saints Educational Trust, London District of the Melhodisl Church. Live at Home Scheme.. MHA, London District of the Melhodisl Church, London Borough of Ealing. Ecumenical Communion Senrice.. Holy Trinity Soulhall, London Diocese of the Church of England. Other Partners.. Trussell Ttusl, Ealing Churches Winler Night Shelter. Wesl London Leaders, various Churches Together groups. Day lo day management of the Circuit is undertaken by the Circuit Leadership team along with the Local Preachers meeting, the Circuit Finance and Property Committee and the Circuit Policy Committee. Overall control rests with the Methodist Conference. The Connexional Office implements decisions made by Conference and is also responsible for the slalioning L)f Ministers in individual Gircuils. Connexional decisior)s ale passed lo the Chair of the Di51ricl and the appropriate offir5 of the Dislricl for regional implementation. The Districts pass the control down lo Circuit level for local implementation by the Superinlendenl Minisler, Ministèrial staff and Circuit Stewards and authority is ddegaled lo the Circuit Meeting for certain mallers. The Circuit Meeting passes ¢onlrol down to Church Councils for Iwal implementation by the Minister, the Church Stewards and Dlher officers and authority is delegated ID Church Councils acting as Managing Trustees. The Circuit Superintendent chairs meetings of the Circuit Policy Commillee ICLCI and the Circuit Meeting, which Trustees are expected lo allend. Policy decisions are taken al the Circuit Meeting. The Methodist Connexional year runs from 1 September to 31 August. Volunteers undertake the majority of the work of the circuit and much of ils managemenl.The Gircuil is governed by the Melhodisl Chur¢h Act 1976. the Deed of Union and the Model Tru51 Deeds of the Melhodisl Church. The E81ing Trinily Melhodisl Circuit is registered as a charity.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 The Trustees who served during the year and up lo the dale of signalure of the financial slalemenls were.. Mrs Esther Ackah Mr Simon Bhalli Revd Nigel Cowgill Mr Colin Halherall Mr Roy Hill Mr George Lafford Revd Susan Male Dr Derek Matthews Mr George Oliver Dcn Theresa Simons-sam Mrs Janel Smith Ms Karen Infftilehouse Revd Michaela Youngson Mr Alex Anleyi Mr Michael Brown Mrs Marion Garnell Ms Fleur Halherall Mrs Jane Horwich Mrs Kathleen Loveridge Mi George Masih Mrs Sylvia Murray Mr Stephen Sears Ms Louise Singleton Mr David Street Mr Paul Williams Revd Rachel Bending Mr Hector Chidiya MrAnil Griffin Mrs Colleen Hicks Mr Martin Kingsnorth Mrs Janel Malamah-Thomas Mr Harmash Masih Mrs Marion Narain Revd Ajay Singh Ms Vinelle Small Revd Shirlyn Toppin Mr Charles Wiredu Nol&s Mr Alex Anteyi (added 24 Mar 20211 Revd Nlgel Cowgill (added 1 Sept 20211 Mr Anil Griffin ladded 23 Feb 2022} Mr Roy Hill (removed 21 Jul 211 Mr George Lafford (removed 21 Jul 20211 Mr George Oliver Ideceased 9 Oct 20211 Revd Shilyn Toppin (removed 31 Jul 20211 Mr Michael Brown (removed 14 Sep 20201 Mrs Marion Gainell (added 21 Jul 20211 Mr Colin Hatherall (added 14 Sept 20201 Mr Martin Kingsnorth Iiemoved 21 Jul 2021) Mrs Kathleen Ltrveridge Iremoved 14 Sept 20211 Revd Ajay Singh ladded 1 Sept 211 Mr Paul Williams (added 14 Sept 2020) Trustee, Recruitment, Training and Induction Pollcy All Circuit TrLJStees are appointed from the Managing Trustees ol the individual churches, who un(Sertake the training and induction of Trustees in accordance with guidelines from the Charities Commission and the Melhodisl Church PLJblished in the booklet The Role of a Trustee in the Melhodisl Church" together with further guidelines published by the Methodist Church Managing Trustees and Iheir Responsibilities" 'Saleguarding and Creating Safer Space Managing Trustees and Melhodisl Money.. Circuit Trustees having the special duties and iesponsibililies of Circuil Stewards allend annual induction and refreshment courses organised by the Methodist London District Training Team, with further specific Iiaining for Stewards having financial, property and safeguarding responsibilities. All Trustees in the Circuit and churches are encouraged lo undertake further training in support ol their own ministry and the Cir¢uil maintains a Training Fund in its budget for this purpose.
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (351241 TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Public Benefit The Tiuslees have had due regard to the guidance published by the Charities Commission in Complian with Ils duties under section 17 of the Charities Act 2011. This guidance sets out two key principles.. The organisalion must have an identifiable benefit. The benefit musl be lo the public or a section of the public The church exists lo.. Increase awareness of God's presence and lo celebrate God's love., Help people to learn and grow as Christians, through mutual support and care.. and Be good lo people in need and challenge injustice. The Trustees Consider that for these reasons the Circuit rneets these public benefi't requirements. Circuit Leadership Team During the year, the Circuit Leadership Team- the Circuit Ministerial Staff and Circuit Stewards- mel regulady lo keep under review the lif& of the Circuit and to take forward the decisions of the Cii¢uil Meeting. Circuit Meeting During the year, the Circuit Meeting, made up of the CLT, represenlalive5 of the Circuit's churches and other circuit officers as defined by Melhodisl CPD mel three tsmes lo enact governance and lo keep under review the life and vision of the Circuit. Circuit stewards Circuit Stewards are Trustees who have volunteered lo assist the Superinlendenl Minister and the Ministerial staff in implementing the decisions of the Ciicuil Meeting and decisions passed down from the Distric15. Ciiouil stewards are appointed by the Circuit Meeting and are unpaid. Induction training is oiganised by the Districts at the start of the Connexional Year and al other limes as required. Amongst other duties the Circuit Stewards are responsible for the Circuit Finances and the maintenance of Circuit property. Details of the Superinlendenl and Stewards can be found on the administration page. Training The Circuit subscribes to the importance of the whole people of God continuing lo learn and develop lo aid their deepening discipleship and ministry, and recognises the crucial importance of continuing learning and exploration l()[ the development and growth of all c>f ils members. A ¢hanging society may require new skills and expertise in different areas of kntsedge. An authentic personal response lo God's mission in the world is enabled through training and development of existing gifts and skills and the aGquiring of new ones. In addition to academic training, grants are available lor conferences, retreats, and short course5. Commitments All known commitments are included in the financial slatemenls. The truslees have paid due regard lo guidan issued by the Charity Commission in deciding what activities the trust should undertake. The Trustees, report was approved by the Board of Trustees. Revd Rachel Bèndlng Isuperintendent Trustee Dated.. £l...o& lèl
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2021 The Trustees are responsible lor preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Practice). The law applicable lo charities In England and Wales requires the Trustees lo prepare financial slalemenls for each financial year which give a true and fair view ot the stale ¢)1 affairs of the Circuit and of the in¢oming resources and application Df resources of the Cir¢iJil lor that year. In preparing these financial slalements, the Trustees are required lo.. select suitable accounting poliaes and then apply them c¢)nsislenlly,' observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., slate wh&ther applicable accounting standards have been followed, subject lo any material departures disclosed and explained in the financial stalemenls., and prepare the financial slalemenls on the going concern basis unle55 11 is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records Ihat disclose with reasonable accuracy at any lime the financial position of the Circuit and enable them to ensure that the financial slalements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets ol the Circuit and hence foi taking reasonable slep5 for the prevention and detection of fiaud 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 Vve have audited the financial slalements of Ealing Trinity Circuit of the Melhodisl Chur¢h1351241 lihe 'Circuil'l for the year ended 31 August 2021 which comprise the slalement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including signifioanl ac¢ounling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" (United Kingdom Generally At¢epted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the stale of the charity's affairs as al 31 August 2021 and of ils incoming resources and application of resouices, for the year then ended., have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion Vve conducted our audil in accordance with International Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Aiidilols responsibilities for tIFe aiidil ofihe financial sl&lemenls section ol our report. We are independent of the Circuit in accordance with the ethical requirements that are relevant to our audit of the lin8n¢ial statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in 8ccordan¢e with these requirements. We believe th81 the audit evidence we have obtsined Is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial 51alemenls, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo evènts or conditions that, individually or collectively, may cast significant doubt on the Circuit's ability lo continue as a going conrn for a period of al least twelve months from when the financial slalements are authorised for issue. Our responsibilities and the respon5ibililies of the Trustees with respect to going concern are described in the relevant sections of this report. Other Information The other informatic>n comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial slalemenls does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially Inconsistent with the financial slalemenls or our knowledge obtained in the course of the audit, or olherwse appears lo be maleiially misstated. 11 we identify such material inconsistencies or apparent material misslalemenls, we are reqLJired lo determine whether Ihls gives rise 10 8 material misstatement in the financi31 statements themselves. If, based on the work we have performed, we conclude that there is 8 material misstatement of thi5 other informalic>n, we are required lo report Ihal fact. We have nothing lo report in this 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 wè arè rèquired to report by exception We have nothing lo report in respect of the following mallers in relation lo which the Charities (Accounts and Reports) Regulalions 2008 require u5 to report lo you il, in our Dpinion.. ihe infomialion given in the financial statements is inconsi51enl in any material respect wlh the Trustees, report., sutticienl accounting records have not been kept,. or the financial stalemenl$ 8re not in agreement with the accounting records., or we have not received 811 the informats'on and explanations we require for our audit. Responsibllltles of Trustees As explained mole fully in the statement of Trustees, responsibilities, the Tru51ees are responsible for the preparation ol the financial slalemenls and for being satisfied that they give a true and lair view, and for such internal control as the Trustees determine is necessary lo enable the preparation Df financial slalemenls that are free from material misstalement, whether due lo fraud or errDr. In preparing the financial staternenls, the Trustees are responsible for assessing the Circuit's ability to continue as a going concern, disclosing, as applicable, mallers related lo going concern and using the going concern basis of a¢¢ounting unless the Trustees either intend to cease operations, or have no realisb'c allernalive bul lo do so. Auditor's responsibllltlès for the audit of the financial statèmènts We have been appointed as auditor under section 144 of the Charities Acl 2011 and report in accordance wlh the Act and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about thether the f1nancial 5181ements as a whole are free from material misstalemenl, whether due to fraud or error, and lo issue an auditor's report that Includes our opinion. Reasonable assurance is a high level ol assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always del1 a material misslalemenl when il exisis. Misslalemenls can arise from fraud or error and are Considered material if, individually or in the aggregate, they could reasonably be expected lo influen¢e the economic decisions of useis taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-cornpliance wlh laws and regulations. We design procedures in lir)e with our responsibilities, outlined above, lo delect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable ol dele¢ling irregularities, includinu fraud, is detailed below. A further descriplion of our responsibilities is available on the Financial Reporting Council'5 web511e at.. https'.11 www.frc.org.ukjaudilorsresponsibililies. This description fom)s part of 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) Usè of our rèport This report is made solely lo the chaiity's Iruslees, as a body, in accoidance wlh part 4 of the Charitie5 (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate to the charity's Iru51ees those malters we are required lo slate to them in an auditors, report and for no other purpose. To the fullest extent permilled by law, we do not accept Dr assume responsibility lo anyone other than the Charity and the charity's Iruslees as a body, for our audit work, for this report, or for the opinions we have formed. Nicholas Corden ACA (Senior Statutory Auditor) for and on behalf of Summers Morgan 23 June 2022 Chartered Accountants Statutory Auditor First Floor, Sheraton House Lowei Road Chorleywood Hertfordshire WD3 5LH Summers Morgan is eligible for appointment as auditor of the Circuit by virtue of its eligibility for appK)inlment as auditor of a company under 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 2021 Unrèstrictèd Rèstricted funds funds 2021 2021 Total Unrestricted Reslricled funds funds 2020 2020 Total 2021 2020 Notes and èndowments from. Donations and lega¢ies Circuit assessment Rental income Investments Other in¢ome 190 194,592 30,040 88,212 1,436 14,474 14,664 194,592 30,040 88,212 1,436 70 189,814 31,250 76,767 3,984 30.000 30,070 189,814 31,250 76,767 4,306 322 Total income 314,470 14,474 328,944 301,885 30,322 332,207 Ex nditure on: Chariiable activities 402,035 14,474 416,509 400,445 31,633 432,078 Connexional Prforily Fund levy 13 222.156 222,156 Totsl SourCeS expended 624,191 14,474 643,665 400,445 31,633 432,078 Net outgoing resourcgs 1309,721} {309,7211 198,5601 11,311} 199,8711 other recognised galns and losses Revaluation of investment properties Nel gainlllossl on property disposal 1.317,788 1.317.788 174,000 174,000 15,000) 15,0001 Net movement in funds 1,003,067 1,003,067 75,440 11,3111 74,129 Fund balances al 1 September 2020 4,856,577 13,246 4,869,823 4,781,137 14,557 4,795.694 Fund balances at 31 August 2021 5,859,644 13,246 5,872,890 4,856,577 13,246 4,869,823 The slalemenl of fin8n¢ial acts'vilies includes all gains and losses recognised in the year. All in¢ome and expenditure derive from continuing aclivilies. 12-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) BALANCE SHEET AS AT31 AUGUST2021 2021 2020 Notes Fixed assets Tangible assets Investment properties 14 15 1,024,705 4,278,000 1,642,917 2,959,000 5,302.705 4,601,917 CUrt assets Debtors Cash al bank and in hand 17 20,382 641,119 4,215 340,537 661,501 344,752 Creditors.. amounts falling due within one year 18 191,316) 176,8461 Net current assets 570,185 267,906 Total assets less current Ilabllltl&s 5,872.890 4,869,823 Incom• funds Reslricled funds fun General unreslricled funds Revaliialion re5etve 19 13,246 13,246 1,S06,856 4,252,788 1.921,577 2.935,000 5,859,S44 4,856,577 5,672,890 4,869,823 The financial statements were approved by the Trustees on 26th May 2022 Revd Rachel Bending Isuperinlendenll Trustèe 13-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2021 2021 2020 Not•s Cash Ilows from operating activities Cash absorbed by OperaOn8 22 1399,6301 1174,1491 Investing activiti&s Proceeds on disposal ol tangible fixed assets Investment income received 612,000 88,212 76,767 Net cash generated from investing activltlos 700,212 7S,767 Net cash u$èd in financing activities Net increaselldecreasèl in ¢a$h and cash equivalents 300,582 197,3821 Cash and cash equivalents al beginning of year 340,537 437,919 Cash and cash equivalents at end of yèar 641.119 340,537 14
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2021 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 slalemenls have been prepared in accordance with the Circuit's Igoverning documenll, the Charitie5 Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charib'es SORP Accounting and Reporting by Charities." Statement of Recommended Pra¢li¢e applicable lo charities pparIng Iheir accounts in a¢eordance with the Financial Reporting Standard applicable in the UK and Republic of Ire18nd IFRS 1021" leffeclive 1 January 20191. The Circuit is a Public Benefit Entity as defi'ned by FRS 102. The financial stalemènls have departed frorn the Charities (Accounts and Reports) Regulations 2008 onty lo the exlenl reqLJired to provide a true 8nd fair view. This departure has involved following the Slalemenl of Recommended Practice for charities applying FRS 102 ialher Ihan the version of the Slalemenl tsf Recommended Piactice whi¢h is referred lo in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the Circuil. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention, modified lo include the revaluation of freehold properties and to include investment properties and certain financial instruments al fair value. The principal accounting policies adopted are sel out below. 1.2 Going concern At the lime of approving the financial slalemenls, the Trustees have a reasonable expectation that the Circuit has adequate resources lo continue in operalional existence for the foreseeable future. Thus the Trustees continue lo adopt the going concern basis of accounting in preparing the financial 51alements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Iruslees in furtherance of their charitable objectives unless the funds have been designated for other purposes. Restricted funds are subject lo $pecific conditions by donors as lo how they may be used. The purposes and uses of the restricted funds are Sel out In the notes to the financial statements. 1.4 Income Donations and legacies are accounted for when enlill&menl has been confirmed, the amount can be measure and receipt is probable. The Circuit's assessments are accounted foi on a receivable basis., when the Circuit becomes enlilled lo the resources. the trustees are virtually certain they will receive the resources and the monetary valutt can be measured wlh sufficient reliabilily. Rents reIVed on manses Currently unoccupied by a Minister and $0 available for lelling are accounted for on a receivable basis. Grants receivable are included when the relevant conditions for the grant have been met. Investment income is accounted lor on a receivable basis. Other income is accounted for on a receivable basis. Is-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Accountlng policies Iconlinuedl 1.5 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo Iiansfer economi¢ benefit lo Ihiid party, il is probable that a transfer of economic benefits will be required in setuemenl, and the amount of the obligalion can be measured reliably. Expenditure is classified by activity. The costs of each aclwily are made up of the total of direel costs and shared costs, including support costs involved in undertaking each activity. Direct costs altributable lo a single aolivily are allocated directly to that activity. Shared costs which contribute lo more than one a¢livity and support costs which are not allribulable lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff ¢osls are allocated on the basis of b'me spent, and depreciation charges are allocated on the portion of the asset's use. All expenses are accounted for on an ac¢ruals basis. This is recognised when a liability is incurred, or a ¢onslruclive obligation arises. that results in the payment being unavoidable. Liabilities ale ie¢ognised as soon as an oulllow of economic benefit is considered more likely than not under the legal or constructive obligation ¢ommillirig the Circuit to pay out resources. 1.6 Tangible fixed assets Land and buildings are staled al $1 or in the case ol donated assets at valuation al the dale that the assets are gifted to the Circuit. The Trustees consider that the lives of the properties ale 50 long and their residual values so high based on prices prevailing al the lime of acquisition that any annual depreciation charge would not be material. Accordingly, no depreciation is provided on freehold properties used lor charitable activities. Any material impairment in the value of such properties, following an annual review, would be chargeable lo the Slalemenl of Fin8n¢ial Aclivrties. Plant and machinery having an initial cost greater than £1,000 are capilalised and stated al cost less depreciation. Depre¢i8lion is re¢ognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Plant and equipment 33.33°A reducing balance The gain or loss arising on the disposal of an asset is determined as the difference beiween the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aclivilies. 1.7 Investment properties Inveslmenl properties, which are residential properties held lo earn rentals andlor for capital appreciation, and which are surplus lo staffing requirements, are initially measured al cost and subsequently measLJred using fair value model and slated at ils fair value as the reporting end dale. The surplus or deficit on revaluation is rectsgnised in the Slalemenl of Financial Activities. 1.8 Impairment of fixed a55etS Al each repoirting end date, the Circuit reviews the carrying amounts of its tangible 8SSttts lo determine 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 estimated in order lo determine the exlenl of the impairment loss and any impairments are recognised in the Statement ol 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 ¥Arith original malurilie5 of three months or less. 16-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Accounting policiès Icontinuedl 1.10 Financial instruments The Circuit has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Se¢tion 12 'Other Financial Inslrumenls Issues, of FRS 102 lo all of ils financial instruments. Financial instruments are reeognised in the Circuivs balance sheet when the Circuit becomes party to the contractual provisions of the inslrumenl. Financial assets and liabilitie5 are offset, with the nel amounts presented in the financial slatemenls, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a net basis or lo reallse the asset and sellle the liability simultaneousty. Basic financial assets Basic financial assets, which include dèbtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangemenl conslilules g financing Iransaclion, where the transa¢li¢)n is measured al the present value of the future receipts discounted al a maikel rate of interest. Financial assets classified as receivable within One year are not amortised. 8aslc financial liabllllles Basic financial liabilities, inclulling creditors and bank loans are initially recognised at transaction price unless the arrangement Constitutes a financing Iransaclion, where the debt instrument is measured at the present value of the future payments discounted at a market 181e of interest. Financial liabilities classified as payable within one year are not amortised. 1.11 Taxation Since the Circuit is not VAT registered, all input VAT is charged Mrith the expenses to thich it refers. 1.12 Employee benefits The cost of any unused holiday enlillemenl is recognised in the period in which the employee's services are received. Terminalitsn benefits are COgniSed immediately as an expense when the Circuit is demonstrably committed to terminate the employment of an employee or lo provide termination benefits. 1.13 Retirement benefits Slipendiary Circuit Ministers are eligible lo join the Melhodisl Ministers, Pension Scheme IMMPSI. The MMPS is a funded defined benefit scheme maintained by The Methodist Church (>f Great Britain. As the Circuit is unable lo idenltfy ils share of the underlying assets and liabilities of the scheme, the Circuit has taken the advantage ol the exemption in Financial Reporting Standard 102 Retirement Benefits, and has accounted for its contributions to the scheme as il il were a defined contribution schem&. The pension costs for the scheme represent the contribution payable by the Clrcuil in the year. The contribution rates are sel each year by the Melhodisl Conference. 1.14 Grants Grants rnade by the Circuit from its own funds are recognised in full at the lime of agreement or when the Circvil accepls that there is a legal or operational obligaliL>n lo rnake the payment. When the grant 15 recurrent over more than one year the balance payable in future years is Irealed as a provision for knture commitments in the Balance Sheet against the appropriate fund, the provision being released in lulure years as inslalmenls are paid in accordan¢e with the originally agreed terms. 17
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH {35124) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGusf 2021 A¢¢ountiny policies Icontinuedl 1.15 Ministers. manse costs The Circuit is required lo provide a¢cc)mmodalion for each minister in the Circuit and this is a benefit lo the Circuit. Ministers are expected lo occupy the manse provided for them. The Cir¢uil bearg the cost of repairs, maintenance, buildings insurance, Council tax and water Charges. These figures are not separately declared as benefS-In-kInd for ministers as HMRC does not lax these receipts in the hands of ministers. 1.16 Consolidation The Circuit has denominational regul*ory oversight in respect of the work of the Churches within the Circuit bul has no legal or operational control of those Churches and their gtsverning bodie5 except in extMe circumstances. For this reason, the linan¢ial statemenls of Churches within the Circuil are ncit consolidated Into these financial statements. Critical accounting estimates and Judg&ments In the application of the Circuit's accounting policies, the Trustees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors that are consideiÈd lo be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revi5ion5 to accounb'ng eslimales are rectsgnised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Cir¢ult a$$e$sm&nt Unrestrictèdunrestricted Funds Fund5 2021 2020 Acton Hill Melhodisl Church Ealing Green Melhodisl Church Greenford Methodist Church Hanwell Methodist Church King's Hall Melhodisl Church Kingsdown Melhodisl Chur¢h Northc>lt Methodist Church Pitshanger Methodist Church 23,003 61,843 30,097 28,519 25,073 39.593 35.373 25,723 4,530 33,030 14,200 12,292 27,952 8,118 15,060 194,592 189,814 18-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Rèntal Income Unrestri¢ted Unrestricted funds funds 2021 2020 27 RosemDnl Road 30,040 31,250 Investments Unrestrictèd Unreslricled funds funds 2021 2020 Interest Income from investment properties 891 87,321 2,980 73,787 88.212 76,767 other incomè Unrèstrict&d Unrestricted Restricted funds funds funds Total 2021 2020 2020 2020 Other income 3 Generation Urdu Speaking Minister 1,436 334 334 322 3,650 322 3.650 1,436 3,984 322 4,306 InclLJded within other income is £1,297 l£nil.' 20201 received frtsm Kingsdown Melhodisl church in relation lo the return of an un-used mission grant. 19-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Charitable activltias 2021 2020 Staff costs Oislricl 8ssessment Expenditure on manses Expenditure on Circuit properties Olher expenditure District advance fund Minister relocab'on costs 196,103 45,036 65,156 24,118 28,527 26,899 6,343 267,758 41,084 41,224 7,835 43,440 13,722 392,182 415,063 Grant funding of activities (see note 81 796 1,296 Share of support costs (see note 91 Share of governance costs (see note 9) 13,031 10,500 5,172 10,547 416.509 432,078 Analysis by fund Unrestricted funds Restricted funds 402.035 14,474 400,445 31,633 416,509 432,078 Grants payable 2021 2020 Grants lo inslilulions.. London Citizens Beyond the Street 700 96 1,200 96 796 1.296 -20-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 Support costs Support Governance costs costs 2021 Support Governance costs costs 2020 Printing, Postage and stationary Sundry Payroll service Legal and professional fees TMCP management fee Bank chaiges 296 737 480 29S 737 480 1,938 1,849 480 1,938 1,849 480 10,S09 529 380 10,609 529 380 742 163 742 163 Audit fees A¢¢ountancy 5.500 5,000 5,500 5,000 5,547 5,000 5,547 5,000 13,031 10,500 23,531 5,172 10,547 15,719 Analysed between Charitable activities 13,031 10,500 23,531 5.172 10,547 15,719 Gtsvernance costs includes payments lo the auditors of £10,500 12020-. £10,5,471 comprising £5,500 for audit fees and £5,000 for statutory accounts production. 21
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 10 Trustses The Superinlendenl of the Circuit, the other Presbyters and the MainIng members of th& CLT are considered as Key Management Personnel. The Superintendent chairs meetings tsf the CLT and Circuit Meetings. The members of the Cir¢uil Meeting are the trustees Of the Circuit. The stipends, ernployer's NIC and employerfs pension contributions and other expense5 of the Presbyters of the Circuit are paid by the Cir¢uil. The manses are provided by the Circuit and the Circuit maintains the property. The value ol the Council Tax and water charges paid by the Circuit is not disclosed here as HMRC does not regard this as a benefil-in- kind in the hands of the minister. Remuneration.. 2021 2020 Stipends of Presbyters Employer's National Insurance contributions Employer's pension ¢ontributions to a defined benefit pension scheme 109,043 130,788 10,287 13,274 26.904 33,812 146,234 177,874 The reimbursement ofTruslees' expenses were as follows.. 2021 2020 Travel Telecommunications Postage, printing & stationary Relocation Training 453 4,615 1,666 6,393 45 1,447 646 6,515 8,750 11 Employees The average monthly number Of employees during the year was.. 2021 Number 2020 Numbèr Ministers Lay and adtllinistrative staff Total 10 22-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 11 Employees IContinLsed} Employment ¢o$ls 2021 2020 Stipends Wages and salaries Social security costs Other pension costs 106,977 31,845 11,982 27,655 128,941 62,171 16,977 35,872 196,103 267,758 Stipends were paid to 4 Presbyters during the year. The Circuil 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 benefiis of more than £60,000. There is no accrual for holiday pay as il is immaterial,. the h(>liday year ends on 31 August. All staff are paid al or above the living wage. Pensions Most ordained presbyters and deacons are rnernbers of the Methodist Ministers, Pension Schème {MMPSI. This is a defined benefit scheme. The Supreme Court held in 2014 that Methodist ministers {which term includes presbyters and deacL¥ns} are not employees of the Church. For simplicity, however, when dealing with Nalior)al Insurance Contributions and pension contributions, the terms 'employer' and 'employee' are used as they would be in an employing body. On the other hand lay empltryees are contractually employees and have the option of joining Ihe Pension and Assurance Scheme for Lay Employees of the Melhodisl Church IPASLEMC). PASLEMC is a defined benefit scheme and the Circuit conlribules as employer to this scheme. The Cc>nnexion accounts for both the MMPS and PASLEMC pension schemes and shows the figures in the annual Melhodisl Church in Great Britain accounts. Both pension schemes are in deficit but a plan for removal of the defficit has been proposed and is being implemented. Details of the deficits can be found in the Annual Report and Accounts of The Melhodist Church al hllps."lthw.melhodisl.org.ukl media12053811196-consolidaled-report-and-accounts-2021-v7b.pdf . 12 Koy management personnel The Circuifs key management personnel are the ordained ministerial staff as listed on the legal and administative page. The or)ly remuneration they receive directly from the circuit 1$ the reimbursement of expènses. Their stipends are paid by the National Methodist Church bul funded in full by the Circuit 8nd are published in the minutes of the Annual Conference. Circuit Stewards make up the other half of the management team. They work on a voluntary basis and only receive occasional reimbursement of expenses. The total amount of the employee benefits (including employer pension contributions received by the key mar)agemenl personnel for their servlces lo the Cir¢uil was £146,23412020.. £177,874). -23-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 13 Connexlonal Prlority Fund levy ICPFI Unrestricted funds Totsl 2021 2020 Levy on sale of 21 Dormer Wells 222,156 222,156 The CPF levy is Charged on all capital money arising from the sale of Circuit properties., il the 58le is linked to a replacement project under standing ordttr 973, the CPF levy would be held pending a repayment. There are no plans for a replacement project at this point. 14 Tangible fixed assets FrÈÈhold land and bulldlng5 Plant and oquipmont Total ¢o$t Al 1 September 2020 Disposals Transfer lo investment property 1,642,917 1617,0001 11,2121 3,938 1.646,855 1617,0001 11,2121 Al 31 August 2021 1,024,705 3,938 1,028,643 Deprèciation and impairment At 1 September 2020 3,938 3,938 Al 31 August 2021 3,938 3,938 Garryiny amount Al 31 August 2021 1,024,705 1,024,705 At 31 August 2020 1,642,917 1,642,917 15 Investment propèrty 2021 Fair value At 1 September 2020 Transfers from owner-occupied property Net gains or losses through fair value adjustments 2.959,000 1,212 1,317,788 Al 31 August 2021 4,278,000 24-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2021 15 Investment property (Continued) Investment properties cc)mprise four flats al Havelock House and the properties al 37 and 39 Neon Avenue. The Trustees obtained an independent professional valuation for these properts.es in the ytsar 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 ievalue the investment properties owned by the Charity. The property a127 Rosemonl Road was transferred from tangible assets al a historic cost of £1,212., this property is no longer used lo house ministers Df the chuTch and is rented out on a commercial basis and so has been reclassified 8s invesltnenl propety during the year. The Trustees obtained an independent valuation of this property in May 2022 and consider this valuation lo be the fair value for the property. The carrying amount of the investment properties if valued al ils origin81 Cost would have been £26,112 {2020'. £24,900). 16 Property disposals Carrying Value Sale Galn (Loss} Detalls 21 Dormer Wells (Realisedl 617,000 617,000 15,0001 17 Debtors 2021 2020 Amounts falling duè within one year.. Prepayments and accrued income 20,382 4,21 S 18 Creditois.. amounts falling due within one year 2021 2020 Notes Deferred income Accruals and deferred income 52,955 38,361 46,528 30,318 91,316 76,846 Deferred income arises from Circuit assessrmenls received in advance of the period to which they relate. -25-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2021 19 Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust fL)r specific purposes.. Movement in funds Incomlng R8sources Balance at rosources èxpÈJ)ded q Soptembor 2020 Movement in funds Incomlng Resources ¥èsouieès èxpe*d8d Balan¢• al 1 Septembor 2019 Balanco at 31 August 2021 Benelovent fund School-R K1-Fulure 3 generation Manse refurbishmen 1,502 1,633 11,422 1,502 1,502 30,000 131,6331 11,422 322 11.422 322 322 14,474 114,4741 14,557 30,322 131,6331 13,246 14,474 114,4741 13,246 Benevolent fund: Circuit Benevolent Fund Support for individuals in specific need. School-R: The Circuil received restricted grants from All Saints Educational Trust of £15,000 and London DiDcese ol the Church ol England of £15,000 to cover the cost of a Christian worker who is employed to visit and wlne55 to staff and pupils within Soulhall School. K1-Future.' King5 Hall IK11 Future Church fund represents funds received for the re-eslablishmenl of a church at the Kings Hall sile. Manse Refurbishment.. The Circuit received a grant from the Connexion lo ctrv&r the Cost of the refurbishment of a manse property owned by the Circuit. 20 Analysis of nèt assèts be&n funds Unrèstricted Rèstricted funds funds 2021 2021 Total Unrestricted Restricted funds funds 2020 2020 Total 2021 2020 Fund balances at 31 August 2021 are represented by.. Tangible assets Investment properties Current ass&1 1,024,705 4,278,000 1,024,705 1,642,917 4,278,000 2,959,000 1,642,917 2,959,000 556,939 13,248 570,185 254,696 9,238 267,906 5,859,644 13,246 5,872,890 4,856,613 9,238 4,869,823 -26-
EALING TRINITY CIRCUIT OF THE METHODIST CHURCH (35124) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2021 21 Related party transactions None of the Circuit Trustees made donati'ons direct lo the Circuit during the year or the preceding year. The Circuit Trustees are members of one or 8nother church within the Circuit and may be Trustees in their ¢hurches. Related parties include the Methodist Connexion, the London Disliicl and churches within the Circuit, other Melhodisl Dislricls in Great Britain. the Central Finance Board ICFBI and Trustees for Methodist ChLJreh Purposes ITMCPI. There were no related party transactions in the year under review other than those disclosed elsewhere in the notes. 22 Cash generatod from op&ratSons 2021 2020 Surplus for the year 1314,7211 199,8711 Adjuslmenls for.. Investment income recognised in stalemenl of financial acliwlies Loss on disposal of tangible fixed assets 188,2121 5,000 176,767) Movements in working capital.. {Increaselldeorease in debtors Increase in creditors Increase in deferred income {16.16n 8,043 6,427 993 1,053 443 Cash absorbed by operations 1399,6301 {174,1491 23 Analysis of changes in net funds The Circuit had no debt during the year. -27-