2023-08-31-accounts - Plymouth And Devonport Methodist Circuit

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				Page
Trustees' Report (induding reference and administrative			details)	1-B
Statement offinancial	activities
Balance Sheet				10
Cash flow statement
Notes to the flnandal	statements			12-20
Declaration				21
Independent examiner's report				22
The following page does not form		part ofthe financial	statements
Detailed income and	expenditure	account		24

				Unrestricted	Funds	Restricted	Endowment	Total	Total
				General	CMTF	Funds	Funds	2023	2022
			Note	E	E	E
Income and Endowments	from:
Donations and legacies			2	419				419	972
Charitable activities
Assessments or share			3	343,379				343,379	387,567
Investments			5	5,444	13,233	371	54	19,102	4,500
Other			6	61,775				61,775	139,613
Total				411,017	13,233	371	54	424,675	532,652
Expenditure
Stipends, salaries, NIC &Pension costs			8	289,066				289,066	315,143
TMCP Levy					37,058			37/I58	28,796
Methodist Church Fund, including		District
Assessment				67,568				67,568	77,591
Telephone &travel				5,387				5,387	4,221
Insurance, utilities, etc.				24,945				24,945	26,751
Maintenance of circuit manses				39,943				39,943	17,121
Maintenance ofother Circuit property
(Oreston)				9,601				9,601	2,213
Other Expenditure			9	27,678	1,741	5,640	5	35,064	23,972
Grants and donations			10	25,991				25,991	19,738
Total				490,179	38,799	5,640	5	534I623	515,546
Net (expenditure)/income	before	gains
and losses on investments,	and before fair			(79,162)	(25,566)	(5,269)	49	(109,948)	17,106
value adjustments
Net gains/(losses) on investments				(531)	(1,387)	(182)		(2,100)	(3,314)
Fair value adjustments to tangible assets		fixed		(361,669)				(361,669)
Net income/(expenditure)	for the year			441,362)	(26,953)	(5,451)	49	(473,717)	13,792
Transfers between funds				445,581	(413,638)	(31,892)	(51)
Net movement in funds				4,219	(440,591)	(37,343)	(2)	(473,71'7)	13,792
Reconciliation offunds:			19
Total funds brought forward				220,850	616,147	2,248,056	1,702	3,086,755	3,072,963
Total funds carried forward				225,069	175,556	2,210,713	1,700	2,613,038	3,086,755

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	for the	Flow S Ended	tatement 31August 2023
					2023	2022
					f	f .
Net cash used in operating activities (see below)					159,228)	(117,535)
Cash flows from investing act(vlties:
(Purchase)/Sale ofinvestments Losses on investments					(2,100) 583	(3,314) 924
Fund income Manse improvement / Purchase offixed assets Proceeds from sale of property (net of levy and other costs) Dividends, interest and rents from investments Net cash provided by investing activities					(332,123) 19,102 (314,538)	(154,959) 286,432 4,500 133,583
Change ln cash and cash equivalents in the Cash and cash equivalents at the beginning Cash and cash equivalents at the end ofthe	reporting period ofthe reporting reporting period	period			(473,766) 924,191 59. 25	16,048 908,143 9 .19
Note: Cash includes both the cash held ot bank, and the Investments			with TCMP
					2023f	2022 f
Reconciliation ofcash flows from operating Net (expenditure)/income forthe reporting	activities: period				(473,717)	13,792
Adjustments for: Losses on investments Impairment loss					2,100 361,669 300	3,314
Depreciation Fund income Profit on the sale offixed assets					(583)	(924) (136,954) (75)
Capital expenditure Dividends, interest and rents from investments (Increase)/Decrease in debtors (Decrease)/Increase in creditors Net cash (used In)/provided by operating activities					(19,102) 11,787 ~68 ) ~28)	(4,500) (17,959) 25,174 )118,152)
					2023	2022
					f	f
Analysis of cash and cash equivalents
Cashin hand					195,744	219,577
Current accounts Investments with TMCP (current) Investments with TMCP (fixed) Total cash and cash equivalents					218,806 35,875 450,425	667,221 37,393 924,191
Analysis of net changes in debt			At the start		Fair value	At the end of
			ofthe year	Cash flows	adjustments	the year
Cash Cash equivalents			219,577 704,614	(23,833) (447,833) (2,100)		195,744 254,681
Borrowings
Total			924 191	471666) 2 100)		450,425

Donations	and legacies	and legacies
				2023		2022
				E		E
Donations	(unrestricted		funds)		419		972
Donation	ofOreston	Fund (restricted funds)
					419		972

The Circuit is	made up ofthe following Churches:
Bittaford	Ivybridge	Ridgeway	Woodford
Compton	Millbrook	Roborough	Yealmpton
Cornerstone	Mount Gould	Sherwell
Crownhill	Pennycross	St Budeaux
Elburton	Pornphlett	Stoke

							2023	2022
							E	E
Dividends	and	interest	on investments	(restricted funds)			371	154
Dividends	and	interest	on investments	(unrestricted	CMTF funds)		13,233	3,040
Dividends	and	interest	on investments	(unrestricted	designated	funds)	625	99
Dividends	and	interest	on investments	(unrestricted	funds)		2,020	602
Dividends	and	interest	on investments	(endowment	funds)		54	8
Central Finance		Board	(unrestricted funds)				2,799	597
							19,102	4,500

					2023	2022
Number oftrustees	who were	paid	expenses
Expenses payments	primarily	relate	to reimbursement	for travel/courses.
Reimbursement for	items purchased		on behalf ofthe	Circuit.	2,576	2,386
Total amount paid	(6)				2,576	2386

Gross salar	ies paid t	o employe	es	were as follows:
						2023	2022
						E	E
Gross pay						221,662	241,926
Employer's	National	Insurance	contributions			18,205	18,215
Employer's	pension	contributions		to defined contribution	schemes	36,278	37,451
Total payroll costs						276,145	297,592
Other expenses paid						12,921	17,551
Total staff	costs (unrestricted		funds)

continued Other outgoings
All costs are made	from unrestricted				funds except those noted below.			2023	2022
								E	E
Graveyard costs								2,200	4,960
Administration expenses								3,037	1,895
Accountancy fees								5,728	5,048
Independent examination			fees					1,750	1,750
Depredation								300
Other Sundry costs									1,298
Fund Management	charges:
(unrestricted funds)								205	207
(unrestricted CMTF funds)								1,741	1,427
(unrestricted designated				funds)				60	60
(restricted funds)								39	39
(endowment funds)								5	5
Publications								1,936	2,847
Money coHected on behalf			ofothers					332
Circuit plans								873	816
Professional fees								15,370	2,057
Communion wine								452	357
Stewards/local preachers		costs						1,036	1,206
Total								9	69
Grants and donations
								2023	2022
								E	E
Pennycross Mission	enabler			(unrestncted		CMTF funds)			5,379
Benevolent fund grants								1,700
Circuit Model Trust	Fund grants							8,657
Digital grants								12,588	10,862
Other small grants:
(unrestricted funds)								3,046	3,497
Total
Manses and other	property			and equipment
							Manses &
							other	Equipment	Total
							property
							E
Cost or valuation
As at 1September	2022						2,234,509		2,234,509
Additions in the year							329,892	2,233	332,125
Less: Depreciation	in the year							(300)	(300)
Less: Fair value adjustment									,669
At 31August 2023							2,202,732	1,933	2,204,665

Creditors: Amounts falling due within o	ne year
			2023	2022
			E	E
Deferred income Other Creditors Accruals Total			51,478 33,065 18,357 46,610 1,750 12,859 11»91
It is expected that all accruals and other	creditors	as at 31August 2023 will be paid during the year to31August 2024.
Deferred income relates to assessments	which are	paid in advance.	2023	2022
			E	E
Deferred income brought forward Assessment income received in the year Deferred income carried forward Amount owed for the year but not received Assessment Income recognised in the year			51,478 336,121 (46,610) 2,390 343 379	44,381 379,324 (51,478) 15,340 3 7 33

Analysis offunds
		Balance as at	Incoming	Outgoing	Gains/(taddadi		Balance as at
		01-Sep-22	Resources	Resources	on investments	Transfers	31-Aug-23
Restricted Funds
8Skelley		297	10	(1)			306
Sup'ts Discretionary	Fund	1,519	35	(1,204)			350
Training Fund		6,406	167	(4,420)			2,153
Youth &Children		1,046	33	(3)			1,076
Oreston —Royle Trust		4,279	126	(12)	(182)	(115)	4,096
Manses 8 other proerpty		2,234,509				(31,777)	2,202,732
		2,248,056	371	(5,640)	(182)	(31,892)	2,210,713
Endowment Funds
Mrs Lakin —Legacy		1,702	54	(5)		(51)	1,700
Unrestricted Funds
Designated Funds
Laira Zion Utd		6,788	330	(29)			7,089
Miss F L Moore		10,771	294	(1,730)		(265)	9,070
PAME		38,818	2,768	(43,388			(1,802)
		56,377	3,392	(45,147)		(265)	14,357
Grcuit Model Trust Fund		616,147	13,233	(38,798)	(1,387)	(413,639)	175,556
GeneralFund		103,434	401,405	(794,711)		447,299	157T427
Oreston funds		13,163	401	(37)	(402)		13,125
Various		28,922	11,880	(18,562)	(129)	(905)	21,206
R Hill		18,954	601	(54		547	18,954
		780,620	427,520	(852,162)	(1,918)	32,208	386,268
Total Funds		3,086,755	431,337	902,954	(2,100)		2,613,038

		Detailed statement
		for the Year Ended 31August 2023
			2023	2022
			E	E
INCOME
Circuit assessments			343,379	387,566
Donations			419	972
Grant for Oreston			50,000
Dividends			1,459	1,281
Bank interest receivable			17,643	3,219
Otherincome			11,775	2,659
			424.675	595,697
DIRECT CHARITABLE EXPENDITURE
Grants paid			25,991	19,738
Wages and salaries			289,066	315,143
Water			2,781	3,751
Counciltax			16,470	16,136
Insurance			5,694	6,864
Alarms
Repairs and maintenance			39,943	17,121
Oreston expenses			9,601	2,213
Money collected on behalf ofothers			332
Quinquennials
TMCP - District levy			37,058	28,796
Support costs of connexion and district			67,568	77,591
Pro fess iona I fees			15,370	2,057
Telephones			5,387	4,221
Publications			1,936	2,847
Depreciation			300
Stewards costs			1,036	1,206
Communion wine			452	357
Sundries				1,298
Graveyard costs			2,200	4,960
Circuit plans			873	816
			522,058	505,115
MANAGEMENT AND ADMINISTRATION
Administration, postage		and stationery	3,037	1,895
Independent review	and	accountancy	7,478	6,798
Fund management	charges		2,050	1,738
			12,565	10,431
TOTAL EXPENDITURE			534,623	515,546
Unrealised (losses)/gains		on investments	(2,100)	(3,314)
NET (DEFICIT)/INCOME before exceptional items			(112,048)	(123,163)
Gain on sale of7St	Lawrence Road			136,955
Impairment ofOreston			(361,669)
NET MOVEMENT IN FUNDS			(473,717)	13,792