##
|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|
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|||(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)|