2022-08-31-accounts - Cambridge Methodist Circuit

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CONTENTS	AND CHARITY INFORMATION	AND CHARITY INFORMATION
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 fuU list of	Trustees	is shown on page 4/5	Margaret Wilson (resigned November							2022)
			Ruth Levine
			James Hindley	(Steward)			(appointed			June		2022)
			Elsie Salmon
CIRCUIT MINISTERS			The Reverend	Colin Smith (Superintendent								and		Chair) (retired	August 2022)
			Deacon Jan Murray
			The Reverend	Alison		Walker (relocated					August			2022)
			The Reverend	Charity		Nzegwu
			The Reverend	Rose Westwood				(Superintendent						and Chair)
			(appointed	September 2022)
			The Reverend	Jenny Pathmarajah					(appointed				September 2022)
REGISTERED OFFICE			Wesley Methodist		Church
			Christ's Piece
			Cambridge
			CBI ILG
CHARITY REGISTRATION NUMBER			1134226
AUDITORS			Prentis &Co LLP
			Chartered Accountants			and Statutory				Auditors
			115cMilton Road
			Cambridge
			CB4 IXE
BANKERS			Lloyds Bank Pic
			University ofCambridge				Branch
			PO Box 1000
			BX1ILT
			Trustees for Methodist			Church		Purposes
			Model Trust Fund
			Central Buildings
			Oldham Street
			Manchester
			Ml IJQ
			Central Finance	Board		of	the Methodist				Church
			9Bonhill Street
			London
			EC2A 4PE

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BALANCE SHEET
			2022	2021
		Notes	I
FIXEDASSETS
Tangible fixed assets			3,436,000	3,213,000
Investments			826,163	787,434
TOTAL FIXEDASSETS			4,262, 163	4,000,434
CURRENT ASSETS
Central Finance Board - Deposit Accounts			425,942	489,043
Cash at bank and in hand			10,354	3,825
Debtors			6,633
TOTALCURRENTASSKTS			442,929	492,868
CREDITORS: amounts falling due within
one year			51,097	53,565
NET CURRENT ASSETS			391,832	439,303
TOTAL ASSETSLESSCURRENT LIABILITIES			4,653,995	4,439,737
NKT ASSETS			4,653,995	4,439,737
THE FUNDS OF THE CHARITY
Unrestricted income funds			4,641,181	4,424,218
Restricted income funds		10	12,814	15,519
TOTAL CHARITY FUNDS			4,653,995	4,439,737
Approved by the Trustees on t~Ttpt+cst	ArS23		and signed on their behalf by:

		2022	2021
	Notes
CASH USED IN OPERATING ACTIVTIES
Net cash used in operating activities	13	180,816	432,312
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received		3,531	2,474
Lettings income		24,896	17,426
Additions to investments		(1,315)	(853)
Revaluation ofproperties		(264,500)	(516,900)
NKT CASH PROVIDED BYINVESTING ACTIVITIES		(237,388)	(497,853)
CHANGE IN CASH AND CASH EQUIVALENTS IN THK YEAR		(56,572)	(65,541)
CASH AND CASH EQUIVALENTS AT THE BEGINNING	OF THE YEAR	492,868	558,409
CASH AND CASH EQUIVALENTS AT THE KND OF THK YEAR		436,296	492,868

(i) FUND ACCOUNTING	(i) FUND ACCOUNTING
Unrestricted	Funds	are available for use at the discretion ofthe Circuit in							furtherance		ofthe
		objectives	ofthe Circuit
Designated	Funds	are funds set aside by		the Circuit in order			to undertake		specific projects,
		or equalise	anticipated	major expenditure			on maintenance			offixed	assets	in
		future years.
Restricted Funds		are monies	subject to regulation		by the	donors		ofthe	funds	as to their use.
					(Unrestricted)
GRANTS RECEIVED						Circuit		Model				2022
Year ended	31stAugust 2022				General			Trust	Restricted			Total
					Fund			Fund		Funds		Funds
Connexional	Diaconal Grant				18,000						18,000
The Leys					105							105
					18,105						18,105
					(Unrestricted)
GRANTS RECEIVED						Circuit		Model				2021
Year ended	31stAugust 2021				General			Trust	Restricted			Total
					Fund			Fund		Funds		Funds
Connexional	Diaconal Grant				18,000						18,000
The Leys					105							105
					18,105						18,105

THE FINANCIAL STATEMENTS	THE FINANCIAL STATEMENTS	THE FINANCIAL STATEMENTS
					(Unrestricted)
INTEREST AND INVESTMENT			INCOME		Circuit	Model		2022
Year ended 31st August 2022					General	Trust	Restricted	Total
					Fund	Fund	Funds	Funds
Interest on deposits					419	3,112		3,531
					(Unrestricted)
INTEREST AND INVESTMENT INCOME					Circuit	Model		2021
Year ended 31st	August 2021				General	Trust	Restricted	Total
					Fund	Fund	Funds	Funds
								f,
Interest on deposits					162	2,277	35	2,474
TRUSTEE AND	STAFF REMUNERATION
The staff costs were:							2022	2021
Trustees (Circuit	Ministers)	and	support staff
	Salaries						121,292	119,045
	Social security costs						15,243	10,285
	Pension costs						29,020	28,280
	Relocation	costs					17,598
							183,153	157,610
Average weekly	number of	staff employed		during the year:
Full time
Part time
							5	5

NET MOVEMENT	IN FUNDS FOR THE YEAR	2022	2021
The net movement	in funds for the year is stated after charging:	f
Audit fee		3,422	3,205

THE FINANCIAL STATEMENTS ...... ..../CONTINUED
TANGIBLE FIXEDASSETS		Freehold
Year ended 31stAugust 2022		property
		(menses)
COST
Balance at 1st September 2021		3,213,000
Revaluations		223,000
Balance at 31stAugust 2022		3,436,000
DEPRECIATION
Balance at 1st September 2021 and 31stAugust 2022
NET BOOK VALUE at 31stAugust 2022		3,436,000
TANGIBLE FIXEDASSETS		Freehold
Year ended 31stAugust 2021		property
		(manses)
COST		f,
Balance at 1st September 2020		2,749,900
Revaluations		463,100
Balance at 31stAugust 2021		3,213,000
DEPRECIATION
Balance at 1st September 2020 and 31stAugust 2021
NET BOOK VALUE at 31stAugust 2021		3,213,000
	Book Value	Book Value
GAINS AND LOSSES	@	@
Year ended 31st August 2022	01.09.2022	01.09.2021
68 Melboum Road, Royston	663,500	623,500
12Moss Drive, Haslmgfield	593,000	566,500
37Maids Causeway, Cambridge	1,251,500	1,180,000
IaRadegund Road, Cambridge	928,000	843,000
	3,436,000	3,213,000

The properties were revalued	the trustees this year with reference	the trustees this year with reference	the trustees this year with reference	to the	relevant sources.	relevant sources.	The values are	The values are
fair value based on open market	value.
INVESTMENTS							2022	2021
Circuit Finance Board managed	fund						1,676	1,950
2 Mowlam Close, Impington						763,500		722,000
Investment account							60,987	63,484
						826,163		787,434
GAINS AND LOSSES		Book Value	Net Interest					Book Value
Year ended 31stAugust 2022			and		Gains			@
		01.09.2021	Charges		/(Losses)	Revaluation		31.08.2022
2 Mowlam Close, Impington		722,000					41,500	763,500
Circuit Finance Board managed	fund	1,950		11	(285)			1,676
Investment account		63,484	1,304		(3,801)			60,987
		787,434	1,315		(4,086)		41,500	826,163

INVESTMENTS - continued
GAINS AND LOSSES			Book Value						Book Value
Year ended 31st August 2021			@			Gains/			@
			01.09.2020	Additions		(Losses) Revaluation			31.08.2021
				6					6
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
The properties were revalued	by	the trustees this year with reference to			the	relevant sources.		The values are
fair value based on open market		value.
DEBTORS								2022	2021
								8
Accrued income								6,633
CREDITORS								2022	2021
Due within one year:
Assessment income								46,995	50,000
Audit fee accrual								2,900	2,850
Other accruals								1,202	715
								51,097	53,565
RESTRICTED FUNDS			Brought						Carried
Year ended 31stAugust 2022			forward	Income		Expenditure	Transfers		forward
Youth Work			2,857			(2,705)			152
Harry Jackson Fund			12,662						12,662
			15,519			(2,705)			12,814
RESTRICTED FUNDS			Brought						Carried
Year ended 31stAugust 2021			forward	Income		Expenditure	Transfers		forward
					6			f,
Youth Work			6,959		8	(4,110)			2,857
Harry Jackson Fund			16,808	18		(4,164)			12,662
Venture FX			4,871		5	(2,000)		(2,876)
Manses Accounts			3,504		4	(8,298)		4,790
			32,142	35		(18,572)		1,914	15,519

Venture FX - supports arange ofprojects in Cottenhsm with th Menses Accounts - provides funds for maintaining the manses.	e community and other	local churche	s.
ANALYSIS OFNET ASSETS BETWEEN FUNDS	Unrestricted	Restricted	Total
Year ended 31stAugust 2022	Funds	Funds	Funds
Tangible fixed assets	3,436,000		3,436,000
Investments	826,163		826,163
Net current assets	379,018	12,814	391,832
	4,641,181	12,814	4,653,995

ANALYSIS OFNET ASSETSBETWEEN FUNDS - continued	Unrestricted	Restricted	Total
Year ended 31stAugust 2021	Funds	Funds f	Funds
Tangible fixed assets Investments	3,213,000 787,434		3,213,000 787,434
Net current assets	423,784	15,519	439,303
	4,424,218	15,519	4,439,737

RECONCILIATION O ACTIVITIES	FNET M	OVE	MENT IN FUNDS TONET CAS	H FLOW FROM OPERATIN	G
				2022	2021
Net movement in funds				214,258	461,978
Adjustments for:
Deduct: (Gains)/losses	on revaluation		offixed assets	4,086	(9,348)
Deduct: Interest and rents fiom		investments		(28,427)	(19,900)
Increase/(decrease) in	creditors			(2,468)	(418)
increase)/ decrease in	debtors			(6,633)
Net cash provided by operating		activities		180,816	432,312