|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:||
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|||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|
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|(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||
|NOTES|TO|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|
|NOTES|TO|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|by|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|
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|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|
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|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|
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|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|