2023-08-31-accounts - Sheffield Methodist Circuit

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Contents		Pages
Trustees' Report		1-9
Independent Auditors'	Report	10-12
Statement of Financial	Activities	13
Balance Sheet		14
Statement of Cash Flows
Notes to the Financial	Statements	16-23
Appendix		24-26

Sheffield Methodisl Circuit Independent Auditor's Report to the Truslegs of Sheffield Methodist Circuit Audil procedures performed by the enga9emenl team indude(l.. DiscussKJns with mana9emenl and responsible IOT legal compliance wocedures wlhin Ihe ch8TIty to obtain an understanding of the legal and regulalory framework applicable lo the charily and how the charity complie5 wlh th81 framework. indudin9 con5ider31ion ol kfK)wn or suspected instances of non- complFance wilh laws and regulations and fraud.. Review7ng minutes of Truslee meeiings- Idenlifying and assessing the design effecliveness ol conlrols thal managemenl has in place lo prevent and delecl IrasJd and non-compliance wilh law5 ar regulalions.. Challengtng assumplions and judgements made by management in their significant accounting eslimales. Iifenlifwng an¢J testing journal entries. in particular any journal entries posled wilh unusual accounl combin3lions or p051ed by senior manwment. There are inherenl limiialions in the auljit procedures described above and the wnore refflove(I non-compliance with laws and regulations 15 Irom IhÈ events Iransaclions reftecled in the financial slaiemenls. Ihe less likely we are lo become aware of it. Also. the risk of nol delecling a malerial misslalement dlte lo ffaud is higher than the risk ol not delecling one restjllithg Irom error. as Iraud may invdve deliberate concealment by, for example, lorgery or inlenlional misrepresenlalions, o¥ thfough Collus. A Ivllher de5criplion of our responsbi Ii ilies 15 available 011 Ihe Financial Reporling Council's web511e al www.Irc.OTg.uklaudilorslaudil-assuTancelavdilor-s-responsibililies-for-Ihe-audil-ol.Ihe-fdeScr1pIl0ft-0f-lhe- audS101's-responsibilities-for. This (Sescriplion forms parl of our audiloT'S report. Usé of our rèport This report is made 501ely lo Ihe chariiis Iruslees. a5 a by. in accordance %wth Pafl 4 of Ihe Charilies IAccDunls and Reports) Regulations 2008. Our audil work has been underiaken so thal we mighl slate lo the ¢harily's Irvstees those malleis we are required to slate to Iheffl in an auditor's report for no olheT purpose. To the fullest extent permitled by law. we do not accept or assume fesponsibilily lo anyone olher than Ihe charity and the charills Iru51ees as a bo(ly, lor our avdit w(Yk. for thi5 rep(Kt. or lor the opinions we have formed. Hawsons Chartereil Accouritants. statu1Y Auditor Pegasus House 463a Glossop Roa Sheffield S102QD 2Ae" Hawsons Charted AcGountanls is elwJi1e lo a¢1 as an auditor in lerms ofsecfycin 1212 of Companios Act 2006 12

						General	Circuit Model	Other	Total	Total
					Nots	Fund	Trust Fund	Funds	2023	2022
						(unrestricted) f	(unrestricted) 5	(restricted) f
Income
Charitable activities
Assessment or	share					950,991			950,991	914,872
Rental income						78,617			78,617	90,127
Properties introduced						370,000			370,000	483,159
Investment Income						8,784	11,757		20,541	21,705
Other income						3,816		26,938	30,754	12,855
Fundsintroduced										28,948
Total						1,412,208	11,757	26,938	1,450,903	1,551,666
Expenditure
Stipends, salaries,	NIC snd pension					832,376			832,376	801,400
District assessment						242,482			242,462	242,462
Motor and travel						31,570			31,570	54,189
insurance, telephone and		utilities				97,991			97,991	94,383
Maintenance on menses						100,601			100,601	144,094
Administration						98,347	2,011		100,358	72,861
Expenditure on other Circuit			property			23,460			23,460	19,028
Other expenditure						11,338		11.806	23,144	25,191
Grants and donations						17,045	22,179		39,224	127,287
Contributions to District Advance				Fund			44,162		44,162	68,685
Methodist Church Fund levy						147,790			147,790	119,263
Total						1,602,980	68,352	11,806	1,683,138	1,768,843
Net (Losses) on investments						(2,185)	(5,125)		(7,310)	(42,930)
Net (expenditure)	Income					(192,957)	(61,720)	15,132	(239,545)	(260,107)
Transfers between	funds					213,120	(213,120)
Other recognised	gains	/ (losses)
Gain on property disposal						18,500			18,500
Gains/(Losses) on	revaluation		of	fixed	assets	145,000			145,000	(62,000)
Net movement in	funds					183,663	(274,840)	15,132	(76,045)	(322,107)
Total funds brought	forward					9,393,792	723,350	1,088	10,118,230	10,440,337
Total funds carried forward						9,577,455	448,510	16,220	10,042,185	10,118,230

		Note	General Fund	Circuit Model Trust Fund	Other Funds	Total 2023	Total 2022
			(unrestricted)	(unrestricted)	(restricted)
Fixed assets			E	E	E
Tangible fixed assets Investment properties Investments Total fixed assets		8 9 10	9,527,645 7,078,670 2.410,000 38,975	22,706 22,706		7,078,670 2,410,000 61,681 9,650,35'I	6,579,954 2,265,000 548,989 9,393943
Current assets
Debtors and prepaymenis Cash at bank snd in hand Total current assets		11	79,346 126 995 206,341	62,860 405,768 468,628	16220 16,220	142206 548983 691,189	123822 798854 922,676
Creditors: amounts than one year	falling due in less	12	156531	42,824		199,355	198,389
Net current assets			49,810	425,804	16,220	491.834	724,287
Net assets			9,577,455	446,510	16,220	10,042,185	10,118,230
Funds ofthe Circuit
General Fund Circuit Model Trust Fund Other Funds Totalfunds		13	9,577,455 9,577455	448,510 448 510	16,220 16220	9,577,455 448,510 16,220 10042185	9,393,792 723,350 1,088 10118230

		Note	2023	2022
Net Cash flow from operating activities		16	~636,646	~666.411
Cash flow from investing activities
Payments to acquire tangible	fixed assets		(625,000)
Receipts from sale of tangible	fixed assets		513,500	358,159
Proceeds from sale of investments			479,998	204,004
Interest received			20,541	21,705
Net cash flow from investing	activities		389,039	583,868
Net (decrease) in cash and cash equivalents			(249,871)	(82,543)
Cash and cash equivalents	brought forward		798,854	881,397
Cash and cash equivalents	carried forward		548,983	798,854

				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
Interest and investment		income		2023 f	2023f	2023f	2022 f
Interest and dividends	on	CFB	investments
- General - Circuit Model Trust	Fund			15,349 5,192 20,541		15,349 5,192 20,541	2,250 19,455 21,705
Other income
Grants and donations Project Income Other				13 3,803	26,938	13 26,938 3,803	2,350 10,401 104
				3,816	26,938	30,754	12,855
Collections for and payments			to external	organisations
There were no collections for or			payments	to External Organisations	in the year	(2022: Nil).
Fees for audit ofthe	accounts					2023	2022
						f	f
Audit						13400	10,000
Stipends and salaries
Stipends and salaries National Insurance contributions Pension costs						655,329 57,631 119416	624,801 56,312 120,287
						832,376	801400

			Unrestricted	Restricted	Total	Total
			Funds	Funds	Funds	Funds
			2023	2023	2023	2022
			6	6	f
7.	Administration
	Legal and professional		78,211		78,211	47,013
	Printing and stationery		7,975		7,975	7,733
	Other office costs		11,701		11,701	14,740
	TMCP Administration	charge	2,471		2,471	3375
			100,358		100,358	72,861
	Other Expenditure
	Ministry resources		7,488		7,488	7,061
	Project expenditure		36	11,806	11,842	15,990
	Other		3,814		3,814	2,140
			11,338	11,806	23,144	25,191
8.	Tangible fixed assets			Nlanses and	Offfce	Total
			other property		Equipment
	Cost /Valuation			8	8
	1 September 2022			6,575,833	6,422	6,582,255
	Additions Disposals			995,000 ~495 000		995,000 ~495,000
	31 August 2023			7,075833	6,422	7,082,255
	Depreciation
	1 September 2022				2,301	2,301
	Depreciation charge for year				1,284	1,284
	31August 2023				3,585	3,585
	Net BookValue
	31August 2023			T,D75,833	2837	7 D7367D,
	31 August 2022			6575,833	4,121	6,579954

.	xe nvest	ents						Listed
								investments
	Valuation							/managed funds 6
	1 September 2022 Disposal proceeds Loss on disposal Loss on revaluation 31 August 2023							548,989 (479,998) (4,118) ~3,192 61,681
				Unrestricted		Restricted	Total	Total
					Funds	Funds	Funds	Funds
					2023	2023	2023	2022
11.	Debtors				6	8	6
	Stipends paid in advance Prepaymenls and sundry		debtors	35,761 106,445 142,206			35,761 106,445 142,206	33,323 90,499 123,822
	Debtors includes 647,500		(2022:648,440)	recoverable	after more	than one year.
				Unrestricted		Restricted	Total	Total
					Funds	Funds	Funds	Funds
					2023	2023	2023	2022
12.	Creditors: amounts	falling due within one year			f.		6	6
	General Fund (unrestricted)
	Deferred income - assessments Accruals and Sundry creditors			138,689 17,842 156531			138,689 17,842 156,531	139,727 13,639 153,366
	Circuit Model Trust	Fund	(unrestricted)
	Provisions re Grant	Commitments			42,824		42,824	45,023
	Total			199,355			199,355	198,389

Funds
			Brought				Gains/	Carried
2023			Forward f	Income f	Expenditure f	Transfer f	(losses) f	Forward
Unrestricted		funds
General Circuit	Fund Model	Trust Fund	9,393,792 723 350 .	1,412,208 11,757	(1,602,980) ~(68.352	213,120 (213.120(	161,315 (5.1251	9,577,455 448,0(D
			10,117,142	1,423,965	(1,671.332)		156,190	10,025,965
Restricted
Other			1,088	26,938	(11,806)			16,220
Total			10,118,230	1.450.903	~(.683,(38		156 190	IIID42,185
			Brought				Gains/	Carried
2022			Forward f	Income f	Expenditure f	Transfer	(losses)f	Forward f
Unrestricted		funds
General	Fund		9,342,284	1,522,522	(1 603748)	237,664	(104930)	9,393,792
Circuit Model		Trust Fund	1,097,789	19,455	(156,230)	(237,664)	-	723,350
			10,440,073	1,541,977	(1,759,978)		(104,930)	10,117,142
Restricted
Other			264	9,689	(8,865)			1,088
Total			10,440337	1551,666	~(,768843		~1D4,930	ID118230

		General	Circuit Model	Other	Total
2023		Fund (unrestricted)	Trust Fund (unrsstricled)	Funds (restricted)
				F
Fixed Cash Other	assets and current investments current assets/(liabilities)	9,527,645 126,995 (77,185)	22,706 405,768 20,036	16,220	9,550,351 548,983 (57,149)
Total		9,577,455	448,510	16,220	10,042,185
		General	Circuit Model	Other	Total
2022		Fund (unrestricted)	Trust Fund (unrestricted)	Funds (restricted)
		6	6	E
Fixed Cash Other	assets and current investments current assets/(liabilities)	8,886,114 600,102 (92,424)	507,829 197,664 17,857	1,088	9,393,943 798,854 (74,567)
Total		9,393,792	723,350	1,088	10,118,230

Reconciliation ofnet (expenditure) to net cash flow from op	erating activities
	2023	2022
Net expenditure Interest received Properties introduced Depreciation of tangible fixed assets Losses on investment revaluation (Increase)/Decrease in debtors Increase/(Decrease) in creditors	(239,545) (20,541) (370,000) 1,284 7,310 (18,384) 966	(260,107) (21,705) (483.159) 1,284 42,930 52,543 1,803
Net cash flow from operating activities	~638.910	~666.411

Operating	Lease commitments	Lease commitments		2023f	2022
Total minimum commitments		under non-cancellable	operating leases were as follows:
Falling due	within one year			2,606	1,507
Falling due	after more than	one year		7,658	3,807
				10,264	5,314

Mr	John	Almond
Ms	Sue	Bagshaw
Mrs	Jackie	Bailey
Mrs	Carole	Baker
Mr	Alan	Bettison
Rev'd	Inderjit	Bhogal
Mr	David	Bingham
Mr	David	Blackbum
Mrs	Rita	Blackwell
Ms	Liz	Brook
Ms	Christine	Buckley
Mr	Jonathan	Buckley
Mr	David	Burton
Dr	Jenny	Bywaters
Mrs	Lynne	Capewell
Mrs	Jenny	Carpenter
Mr	Alee	Cartwright
Mr	Brian	Chapman
Miss	Anne	Clark
Mr	lain	Cloke
Rev'd	Naomi	Cooke
Mrs	Jean	Cookson
Mr	Stephen	Cowley
Mrs	Ann	Croft
Mrs	Elsie	Gundy
Mrs	Bev	Dale
Rev'd	Michelle	Deans
Mr	Jon	Dilks
Mrs	Sue	Dilks
Mr	Steve	Dixon
Ms	Erica	Dunmow
Mr	John	Eaton
Mrs	Pam	Eaton
Miss	Louise	Etherington
Mr	Simon	Etty
Mrs	Jan	Fly
Mrs	Kay	Gilbert
Mr	Neil	Grant
Mrs	Sue	Griffiths
Ms	Mary	Grimes
Mrs	Katrin	Hackett
Rev'd	Jonathan	Haigh
Prof	John	Harding
Mrs	Brenda	Harrison
Mrs	Hazel	Harrison
Mrs	Judith	Hartley
Mr	Graham	Hill

Trust	ees'	Report a	nd Financial
Dr		Anne	Hollows
Mr		Jeff	Hough
Mrs		Anne	Humphreys
Ms		Kate	Ibbeson
Mr		Matt	Irons
Mrs		Christine	Jackson
Rev'd		Judith	Jessop
Mr		Chris	Jones
Mr		Glyn	Jones
Rev'd		Mike	Jones
Mrs		Bridget	Kellett
Rev'd	Dr	Claude	Kimpinde
Mr		Donald	King
Mr		Roger	Kite
Mr		Paul	Krzok
Mrs		Janet	Lawless
Mr		Peter	Lockwood
Mrs		Libby	Long
Rev'd		lan	Lucraft
Mrs		Ann	Lyons
Mr		Arthur	Lyons
Ms		Janet	Malbon
Mrs		Bridget	Manley
Mrs		Audrey	Mann
Mrs		Sheila	Mappin
Rev'd		Debora	Marschner
Rev'd		Kim	Mason
Mr		Andrew	Maxfield
Mrs		Pam	Meek
Rev'd		Paul	Mellars
Mrs		Kath	Milne r
Mrs		Sue	Monaghan
Rev'd		James	Morley
Ms		Heather	Morris
Rev'd		Tracey	Mords
Ms		Sue	Nuttall
Mrs		Jane	Offord
Mr		Neil	Offord
Mrs		Yvonne	Ogden
Mrs		Mary	Parker
Rev'd		Philip	Peacock
Rev'd		Romeo	Pedro
Rev'd		Jill	Pullan
Rev'd		Lisa	Quarmby
Rev'd		Carla	Quenet
Mrs		Melissa	Quinn
Mrs		Heather	Rotherham
Mr		Paul	Rotherham
Mr		Philip	Rowland
Ms		Joan	Sharp
Mr Rev'd		Mark John	Sharpies Simms
Mrs		Val	Smith
Ms		Janet	Southgate

Trustees	' Report a	nd Financial
Rev'd	Maurice	Stafford
Mrs	Sue	Stanworth
Mrs	Julie	Talbot
Ms	Ann	Taylor
Deacon	Annabel	Terry
Mr	Nigel	Thomas
Miss	Aileen	Treloar
Ms Rev'd	Maryke Gill	Turvey Tutt
Mr	Greg	Unwin
Ms	Jo	Webster
Mr	Nick	Whitworth
Mrs	Carol	Wignell
Mrs	Joyce	Wiles
Mr	Nigel	Wiles
Mr	John	Wilkins
Mr	Richard	Wilshaw
Mrs	Evelyn	Windle
Mrs	Eileen	Woodthorpe
Mr	lan	Wright
Deacon	Jackie	Wright