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2020-08-31-accounts

CONTENTS PAGE
Report ofthe Trustees 1-5
Independent Auditor's Report 6 -7
Statement ofFinancial Activities
Balance Sheet
Statement ofCash Flows 10
Notes to the Financial Statements 11-16
TRUSTEES (Circuit Stewards) Mike Sharpe (Property Steward)
A full list ofTrustees is shown on page 4/5 Richard Elcock
Steve Acklam (Senior Steward)
Margaret
Wilson
Angus Campbell (Treasurer)
Michael Simmonds
Ruth Levine
CIRCUIT MINISTERS The Reverend
Colin Smith (Superintendent)
Deacon Ian Murray
The Reverend
Simon Oliver (resigned 31March 2020)
The Reverend
Alison Walker
The Reverend
Charity Nzegwu
REGISTERED OFFICE Wesley Methodist Church
Christ's Piece
Cambridge
CB1 ILG
CHARITY REGISTRATION NUMBER 1134226
AUDITORS Prentis
dc Co LLP
Chartered
Accountants		 and Statutory Auditors
115cMilton Road
Cambridge
CB4 IXE
Lloyds Bank Pic
University ofCambridge Branch
PO Box 1000
BXI ILT
Trustees for Methodist Church Purposes
Model Trust Fund
Central Buildings
Oldham
Street
Manchester
Ml IJQ
Central Finance Board ofthe Methodist Church
9 Bonhill Street
London
EC2A 4PE

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BALANCE SHEET
2020 2019
Notes 8
FIXEDASSETS
Tangible fixed assets
Investments		 2,749,900
723,433		 2,749,900
722, 1&3
TOTAL FIXED ASSETS 3,473,333 3,472,083
CURRENT ASSETS
Debtors 2,250
Central Finance Board - Deposit Accounts 552,013 427,094
Cash at bank and In hand 6,396 6,466
TOTAL CURRENT ASSETS 558,409 435,810
CREDITORS: amounts falling due within
one year 53,983 52,800
NET CURRENT ASSETS 10 504,426 383,010
TOTAL ASSETS LESSCURRENT LIABILITIES 3,977,759 3,855,093
NET ASSETS 3,977,759 3,855,093
THE FUNDS OF THE CHARITY
Unrestricted
mcome fttnds		 3,945,617 3,801,853
Restricted
income funds		 32,142 53,240
TOTAL CHARITY FUNDS 3,977,759 3,855,093

2020 2019
Notes 8
CASH USED IN OPERATING ACTIVTIES
Net cash used
in operating
activities		 12 105,418 (140,174)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received 5,711 3,229
Lettings
income		 14,952 13,991
Additions
to investments		 (1232) (30,820)
NET CASH PROVIDED BYINVESTING ACTIVITIES 19,431 (13,600)
CHANGE IN CASH AND CASH EQUIVALENTS IN THE YEAR 124,849 (153,774)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OFTHE YEAR 433,560 587,334
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR 558,409 433,560

(Unrestricted)
GRANTS RECEIVED Circuit Model 2020
Year ended 31st August 2020 General Trust Restricted Total
Fund Fund Funds Funds
8
Connexional Diaconal Grant 18,000 18,000
Venture FX 9,501 9,501
The Leys 105 105
18,105 9,501 27,606
(Unrestricted)
GRANTS RECEIVED Circuit Model 2019
Year ended 31stAugust 2019 General Trust Restricted Total
Fund Fund Funds Funds
Connexional Diaconal Grant 20,000 20,000
Venture FX 12,638 12,638
The Lays 105 105
Other grants 10,000 10,000
20,105 22,638 42,743

FINANCIAL STATEMENTS
(Unrestricted)
INTEREST AND INVESTMENT INCOME
Year ended 31st August 2020		 Circuit
General		 Model
Trust		 Restncted 2020
Total
Fund Fund Funds Funds
6
Interest
on deposits		 913 4,798 5,711
(Unrestricted)
INTEREST AND INVESTMENT INCOME Circuit Model 2019
Year ended 31st August 2019 General Trust Restricted Total
Fund Fund Funds Funds
f, 6
Interest on deposits 1154 2,075 3,329
TRUSTEE AND STAFF REMUNERATION
The stafi' costs were; 2020 2019
Trustees (Circuit Ministers)
and
support staff
Salaries		 130,313 132,426
Social security costs
Pension costs		 9,653
20,915		 9,800
21,300
160 881 163526
Average weeldy number ofstaff employed
Full time		 during the year: 4 5
Part time I I
5 6
In common with other small entities ofour size and nature we use our auditors to assist with the preparation
ofour financial
statements.
TANGIBLE FIXED ASSETS Freehold
Year ended 31 August 2020 property
(manses)
COST
Balance at 1st September 2019 and 31stAugust 2020		 2,749,900
DEPRECIATION
Balance at 1st September 2019 and 31stAugust 2020		 2,749,900
NET BOOK VALUE at 31stAugust 2020 2,749,900
NET BOOK VALUE at 31st August 2019 2 749 900
NOTES TO THE FINANCIAL STATEMENTS THE FINANCIAL STATEMENTS .... ...,../CONTINUED .... ...,../CONTINUED
TANGIBLE FIXEDASSETS.... ./CONTINUED Freehold
Year ended 31 August 2019 property
(menses)
COST f
Balance at 1st September 2018 and 31st August 2019 2,749,900
DEPRECIATION
Balance at 1st September 2018 and 31st August 2019 2,749,900
NET BOOK VALUE at 31st August 2019 2,749,900
NET BOOK VALUE at 31st August 2018 2,749,900
Book Value Book Value
GAINS AND LOSSES @
01.09,2020 31.08.2019
68 Melbourn
Road, Royston		 488,300 488,300
12 Moss Drive, Hastingfield 565,400 565,400
37 Maids Causeway,
Cambridge		 1,028,000 1,028,000
la Radegund
Road, Cambridge		 668,200 668,200
2,749,900 2,749,900
The properties
were revalued		 by Admiral Estates, the charity's property management agents. The values are
fair value based on open market value.
INVESTMENTS 2020 2019
f,
Circuit Finance Board managed fund 1,977 1,947
2 Mowlam
Close, Impington		 668,200 668,200
Investment
account		 53,256 52,036
723,433 722,183
GAINS AND LOSSES
YEAR ENDED 31AUGUST		 2020 Book Value
g
01,09,19		 Additions Gains
/(Losses)		 Book Value
I
31.08.2020
f.
2 Mowlam
Close, Impington		 668,200 668,200
Circuit Finance Board managed fund 1,947 12 18 1,977
Investment
account		 52,036 1,220 53,256
722, 183 1,232 18 723,433
GAINS AND LOSSES Book Value Book Value
YEAR ENDED 31AUGUST 2019 @ Gains
01.09,2018 Additions /(Losses) 31.08.2019
2 Mowlam
Close, Impington		 668,200 668,200
Circuit Finance Board managed fund 1,825 122 1,947
Investment
account		 21,216 30,820 52,036
691,241 30,820 122 722,183
CREDITORS 2020 2019
Due within
one year:		 f
Assessment
income		 50,000 50,000
Audit fee accrual 2,825 2,800
Other accmals 1,158
53,983 52,800

RESTRICTED FUNDS Brought Carried
Year ended 31st August 2020 forward Income Expenditure Transfers forward
6
Youth Work 13,710 6,751 6,959
Harry Jackson Fund 16,808 16,808
Venture FX 11,271 9,699 16,099 4,871
Menses Accounts 11,451 7,947 3,504
53,240 9,699 30,797 32,142
RESTRICTED FUNDS Brought Carried
Year ended 31stAugust 2019 forward Income Expenditure Transfers forward
g
Youth Work 19,827 6,117 13,710
Harry Jackson Fund 16,633 175 16,808
Venture FX 9,027 22,463 15,709 (4,510) 11,271
Menses Accounts 32,807 21,356 11,451
78,294 22,638 43,182 (4,510) 53,240
ANALYSIS OF NET ASSETSBETWEEN FUNDS Unrestricted Restricted Total
Year ended 31st August 2020 Funds Funds Funds
Tangible fixed assets 2,749,900 2,749,900
Investments 723,433 723,433
Net current assets 472,284 32,142 504,426
3,945,617 32,142 3,977,759
ANALYSIS OF NET ASSETSBETWEEN FUNDS Unrestricted Restricted Total
Year ended 31stAugust 2019 Funds Funds Funds
8
Tangible fixed assets 2,749,900 2,749,900
Investments 722,183 722,183
Net current assets 329,770 53,240 383,010
3,801,853 53,240 3,855,093

RECONCILIATION
O
ACTIVITIES		 FNET M OVE MENT
IN FUNDS TO NET CAS		 H FLOW FROM OPERATI NG
2020 2019
f.
Net movement
in funds		 122,666 (123,542)
Adjustments
for;
Deduct: (Gains)/losses on revaluation offixed assets (18) (122)
Deduct: Interest and rents fi om investments (20663) (17,220)
Increase/(decrease)
in		 creditors 1,183 710
(Increase)/
decrease in		 debtors 2,250
Net cash provided
by operating		 activities 105,418 (140,174)