|CONTENTS|||||||||||PAGE|
|---|---|---|---|---|---|---|---|---|---|---|---|
|Report ofthe Trustees|||||||||||1-5|
|Independent|Auditor's|Report|||||||||6 -8|
|Statement ofFinancial||Activities||||||||||
|Balance Sheet|||||||||||10|
|Statement of|Cash Flows|||||||||||
|Notes to the Financial||Statements|||||||||12-17|
|TRUSTEES|(Circuit|Stewards)||Steve Acklam|(Senior Steward)|||||||
|A full list of|Trustees|is shown|on page 4/5|Margaret
Wilson||||||||
|||||Ruth Levine||||||||
|||||Paul Ashley (Treasurer)||||||||
|CIRCUIT MINISTERS||||The Reverend|Colin Smith (Superintendent)|||||||
|||||Deacon Ian Murray||||||||
|||||The Reverend|Alison Walker|||||||
|||||The Reverend|Charity Nzegwu|||||||
|REGISTERED OFFICE||||Wesley Methodist||Church||||||
|||||Christ's Piece||||||||
|||||Cambridge||||||||
|||||CBI ILG||||||||
|CHARITY REGISTRATION NUMBER||||1134226||||||||
|AUDITORS||||Prentis &Co LLP||||||||
|||||Chattered
Accountants||||and Statutory|Auditors|||
|||||115cMilton Road||||||||
|||||Cambridge||||||||
|||||CB4 IXE||||||||
|||||Lloyds Bank Plc||||||||
|||||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||
|||||9Bonhili Street||||||||
|||||London||||||||
|||||EC2A 4PE||||||||
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##
##
|BALANCE SHEET|||||
|---|---|---|---|---|
|||2021|2020||
||Notes||||
|FIXEDASSETS
Tangible fixed assets
Investments||3,213,000
787,434||2,749,900
723,433|
|TOTAL FIXED ASSETS||4,000,434||3,473,333|
|CURRENT ASSETS|||||
|Central Finance Board - Deposit Accounts
Cash at bank and in hand||489,043
3,825|552,013
6,396||
|TOTAL CURRENT ASSETS||492,868|558,409||
|CREDITORS: amounts
falling due within
one year||53,565|53,983||
|NET CURRENT ASSETS||439,303||504,426|
|TOTAL ASSETS LESS CURRENT LIABILITIES||4,439,737||3,977,759|
|NET ASSETS|10|4,439,737||3,977,759|
|THE FUNDS OF THE CHARITY
Unrestricted
income funds||4,424,218||3,945,617|
|Restricted
income funds||15,519||32,142|
|TOTAL CHARITY FUNDS||4,439,737||3,977,759|
##
##
||||2021|2020|
|---|---|---|---|---|
|||Notes||6|
|CASH USED IN OPERATING ACTIVTIES|||||
|Net cash used in operating
activities||12|433,263|105,418|
|CASH FLOWS FROM INVESTING ACTIVITIES|||||
|Interest received|||1,523|5,711|
|Lettings
income|||17,426|14,952|
|Additions
to investments|||(853)|(1,232)|
|Revaluation
ofproperties|||(516,900)||
|NET CASH PROVIDED BYINVESTING ACTIVITIES|||(498,804)|19,431|
|CHANGE IN CASH AND CASH EQUIVALENTS|IN THE|YEAR|(65,541)|124,849|
|CASH AND CASH EQUIVALENTS AT THE BEGINNING||OF THE YEAR|558,409|433,560|
|CASH AND CASH EQUIVALENTS AT THE END|OF THE YEAR||492,868|558,409|
##
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||||(Unrestricted)||||
|---|---|---|---|---|---|---|
|GRANTS RECEIVED|||Circuit|Model||2021|
|Year ended|31st August 2021||General|Trust|Restricted|Total|
||||Fund|Fund|Funds|Funds|
||||||8||
|Connexional|Diaconal|Grant|18,000|||18,000|
|The Leys|||105|||105|
||||18,105|||18,105|
||||(Unrestricted)||||
|GRANTS RECEIVED|||Circuit|Model||2020|
|Year ended|31stAugust 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|
##
|NOTES|TO|THE FINANCIAL
STATEMENTS||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||(Unrestricted)||||
|||INTEREST AND INVESTMENT INCOME||||Circuit|Model||2021|
|||Year ended 31st August 2021||||General|Trust|Restricted|Total|
|||||||Fund|Fund|Funds|Funds|
|||Interest on deposits||||162|2,277|35|2,474|
|||||||(Um estri cted)||||
|||INTEREST AND INVESTMENT INCOME||||Circuit|Model||2020|
|||Year ended 31st August 2020||||General|Trust|Restrtcted|Total|
|||||||Fund|Fund|Funds|Funds|
|||Interest on deposits||||913|4,798||5,711|
|||TRUSTEE AND STAFF REMUNERATION||||||||
|||The staff costs were:||||||2021|2020|
|||Trustees (Circuit Ministers)
and|support|staff||||||
|||Salaries||||||119,045|130,313|
|||Social security|costs|||||10,285|9,653|
|||Pension costs||||||28,280|20,915|
|||||||||157,610|160,881|
|||Average weekly number ofstaif|employed|during|the year:|||||
|||Full time||||||||
|||Part time||||||||
|||||||||5|5|
|compensation
recei|ved
including
benefits
is f119,045 (2020:f130,313).|||
|---|---|---|---|
|NET MOVEMENT|IN FUNDS FOR THE YEAR|2021|2020|
|The net movement|in funds for the year is stated after charging:|||
|Audit fee||3,205|3, 109|
##
|In common with other smail entities ofour size and nature we use our auditors|to assist with the preparation|
|---|---|
|ofour financial
statements,||
|TANGIBLE FIXEDASSETS|Freehold|
|Year ended 31 August 2021|property|
||(manses)|
|COST||
|Balance at 1st September 2020|2,749,900|
|Revaluations|463,100|
|Balance at 31st August 2021|3,213,000|
|DEPRECIATION||
|Baiance at 1st September 2020 and 31stAugust 2021||
|NET BOOK VALUE at 31st August 2021|3,213,000|
|NOTES|TO|THE FINANCIAL
STATEMENTS .. .....,../CONTINUED|||
|---|---|---|---|---|
|||TANGIBLE FIXEDASSETS,..../CONTINUED||Freehold|
|||Year ended 31 August 2020||propetry|
|||||(nianses)|
|||COST||8|
|||Balance at 1st September 2019and 31st August 2020||2,749,900|
|||DEPRECIATION|||
|||Balance at 1st September 2019 and 31stAugust 2020|||
|||NET BOOK VALUE at 31st August 2020||2,749,900|
||||Book Value|Book Value|
|||GAINS AND LOSSES|@|@|
||||01.09.2021|01.09.2020|
||||f,||
|||68 Melbourn
Road, Royston|623,500|488,300|
|||12Moss Drive, Haslingfield|566,500|565,400|
|||37 Maids Causeway,
Cambridge|1,180,000|1,028,000|
|||Ia Radegund
Road, Cambridge|843,000|668,200|
||||3,213,000|2,749,900|
|The properties
were revalued|by the hustees|by the hustees|this year with|reference to|reference to|reference to|the|relevant sources.|relevant sources.|The values are|The values are|
|---|---|---|---|---|---|---|---|---|---|---|---|
|fair value based on open market||value.||||||||||
|INVESTMENTS||||||||||2021|2020|
|Circuit Finance Board managed||fund||||||||1,950|1,977|
|2 Mowlain
Close, Impington||||||||||722,000|668,200|
|Investment
account||||||||||63,484|53,256|
|||||||||||787,434|723,433|
|GAINS AND LOSSES|||Book Value||||||||Book Value|
|YEAR ENDED 3 I AUGLIST|2021||@|||||Gains|||@|
||||01.09.2020||Additions|||/(Losses)|Revaluation||31.08.2021|
|||||f,||||||||
|2 Mowlam
Close, Impington|||668,200|||||||53,800|722,000|
|Circuit Finance Board managed||fund|1,977||||9|(36)|||1,950|
|Investment
account|||53,256|||844||9,384|||63,484|
||||723,433|||853||9,348||53,800|787,434|
|GAINS AND LOSSES|||||Book Value||||||Book Value|
|YEAR ENDED 31 AUGUST|2020||||@|||||Gains|@|
||||||01.09.2019|||Additions|/(Losses)||31.08.2020|
||||||||||||8|
|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|
##
|CREDITORS||||2021|2020|
|---|---|---|---|---|---|
|Due within one year;||||||
|Assessment
income||||50,000|50,000|
|Audit fee accrual||||2,850|2,825|
|Other accruals||||715|1,158|
|||||53,565|53,983|
|RESTRICTED FUNDS|Brought||||Carried|
|Year ended 31st August 2021|forward|Income|Expenditure|Transfers|forward|
|Youth Work|6,959|8|4, 110||2,857|
|Hany Jackson Fund|16,808|18|4,164||12,662|
|Venture FX|4,871|5|2,000|(2,876)||
|Menses Accounts|3,504|4|8,298|4,790||
||32,142|35|18,572|1,914|15,519|
|RESTRICTED FUNDS|Brought||||Carried|
|Year ended 31st August 2020|forward|Income|Expenditure|Transfers|forward|
|||f||||
|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|
##
|ANALYSIS OF NET ASSETS BETWEEN FUNDS|Unrestricted|Restricted|Total|
|---|---|---|---|
|Year ended 31stAugust 2021|Funds|Funds|Funds|
||f,|8||
|Tangible fixed assets|3,213,000||3,213,000|
|Investments|787,434||787,434|
|Net current assets|423,784|15,519|439,303|
||4,424,218|15,519|4,439,737|
|ANALYSIS OF NET ASSETS BETWEEN FUNDS|Unrestricted|Restricted|Total|
|Year ended 31st August 2020|Funds|Funds|Funds|
|Tangible fixed assets|2,749,900||2,749,900|
|Inveshnents|723,433||723,433|
|Net current assets|472,284|32,142|504,426|
||3,945,617|32,142|3,977,759|
##
|RECONCILIATION
O
ACTIVITIES|F NET|MOVE|MENT
IN FUNDS TO NET CAS|H FLOW FROM OPERATIN|G|
|---|---|---|---|---|---|
|||||2021|2020|
|Net movement
in funds||||461,978|122,666|
|Adjustments
for:||||||
|Deduct: (Gains)/losses|on revaluation||oftixed assets|(9,348)|(18)|
|Deduct: Interest and rents from||investments||(18,949)|(20663)|
|Increase/(decrease)
in|creditors|||(418)|1,183|
|(Increase)/ decrease in|debtors||||2,250|
|Net cash provided
by operating||activities||433,263|105,418|