2023-08-31-accounts - Cambridge Methodist Circuit

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FINANCIAL	STATEMENTS FOR THE YEAR	STATEMENTS FOR THE YEAR	STATEMENTS FOR THE YEAR	ENDED 31STAUGUST	ENDED 31STAUGUST	ENDED 31STAUGUST	2023	2023
CONTENTS	AND CHARITY INFORMATION
CONTENTS														PAGE
Report ofthe Trustees														1-5
Independent	Auditor's	Report												6 -8
Statement ofFinancial		Activities
Balance Sheet														10
Statement ofCash Flows
Notes to the	Financial	Statements												12 - 17
TRUSTEES (Circuit		Stewards)		Steve Acklam	(Senior Steward)
A full list ofTrustees		is shown	on page 4/5	Margaret Wilson (resigned November							2022)
				Ruth Levine
				James Hindley	(Steward)			(resigned		August 2023)
				Elsie Salmon
				Ross McEwan	(appointed			March 2023)
CIRCUIT MINISTERS				Deacon lan Munay
				The Reverend	Charity Nzegwu
				The Reverend	Rose Westwood				(Superintendent				and Chair)
				The Reverend	Jenny Pathmarajah
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
				BXI ILT
				Trustees for Methodist			Church		PurPoses
				Model Tntst 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
			2023		2022
		Notes			6
FIXEDASSETS
Tangible fixed assets			3,548,500		3,436,000
Investments				631,823	826,163
TOTAL PIXED ASSETS			4,	180,323	4,262, 163
CURRENT ASSETS
Central Finance Board -	Deposit Accounts		403,044		425,942
Cash at bank and in hand			8,525		10,354
Debtors			7,845		6,633
TOTAL CURRENT ASSETS			419,414		442,929
CREDITORS: amounts	falling due within
one year		10	50,435		51,097
NET CURRENT ASSETS				368,979	391,832
TOTAL ASSETSLESSCURRENT LIABILITIES			4,549,302		4,653,995
NET ASSETS		12	4,549,302		4,653,995
THE FUNDS OF THEC~
Unrestricted income funds			4,536,488		4,641,181
Restricted income funds				12,814	12,814
TOTAL CHARITY FUNDS			4,549,302		4,653,995

			2023	2022
		Notes	I
CASH USED IN OPERATING ACTIVTIES
Net cash used in operating activities		14	(46,691)	(83,684)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received			12,993	3,531
Lettings income			9,000	24,896
Additions to investments			(29)	(1,315)
NET CASH PROVIDED BYINVESTING ACTIVITIES			21,964	27,112
CHANGE IN CASH AND CASH EQUIVALENTS	IN THE	YEAR	(24,727)	(56,572)
CASH AND CASH EQUIVALENTS AT THE BEGINNING		OF THE YEAR	436,296	492,868
CASH AND CASH EQUIVALENTS AT THE END	OFTHE YEAR		411,569	436,296

						(Unrestricted)	(Unrestricted)
OTHER	INCOME					Circuit		Model		2023
Year ended 31st August		2023				General		Trust	Restricted	Total
						I'und		Fund	Funds	Funds
Legacies						27,664				27,664
						(Unrestricted)
OTHER	INCOME						Circuit	Modei		2022
Year ended 31st August		2022				General		Trust	Restricted	Total
						I'und		Fund	Funds	Funds
								8
District and Connexion		refunds				6,160				6, 160
						(Unrestricted)
INTEREST AND INVESTMENT INCOME							Circuit	Model		2023
Year ended 31st August		2023				General		Trust	Restricted	Total
						Fund		Fund	Funds	Funds
								8
Interest on deposits						2,971	10,022			12,993
						(Unresn icted)
INTEREST AND INVESTMEN'f 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
TRUSTEE AND STAFF REMUNERATION
The staff	costs were:								2023	2022
Trustees	(Circuit Ministers)		and	support	staff
	Salaries								121,672	121,292
	Social	security		costs					11,373	15,243
	Pension costs								27,869	29,020
	Relocation		costs						(1,855)	17,598
									159,059	183,153
Average	weekly number	of	staff	employed	during the year:
Full time
Part time
									5	5

THE FINANCIAL STATEMENTS ... ., , , , ,2CONTINUED	THE FINANCIAL STATEMENTS ... ., , , , ,2CONTINUED
NET MOVEMENT	IN FUNDS FOR THE YEAR	2023	2022
The net movement	in funds for the year is stated after charging'.		f
Audit fee		3,752	3,422

In common with other small entities ofour size and nature	to assist with the preparation	to assist with the preparation
ofour financial statements.
TANGIBLE FIXEDASSETS		Freehold
Year ended 31st August 2023		property
		(manses)
COST
Balance at 1st September 2022		3,436,000
Transfer to investments		(593,000)
Transfer from investments		763,500
Revaluations		(58,000)
Balance at 31stAugust 2023		3,548,500
DEPRECIATION
Balance at 1st September 2022 and 31st August 2023
NET BOOK VALUE at 31stAugust 2023		3,548,500
TANGIBLE FIXED ASSETS		Freehold
Year ended 31stAugust 2022		property
		(manses)
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 31st August 2022
NET BOOK VALUE at 31st August 2022		3,436,000
	Book Value	Book Value
GAINS AND LOSSES	@	@
Year ended 31stAugust 2023	01.09.2023	01.09.2022
68 Melboum Road, Royston	698,500	663,500
12Moss Drive, Haslingfield		593,000
37 Maids Causeway, Cambridge	1,190,000	1,251,500
la Radegund Road, Cambridge	908,500	928,000
2 Mowlam Close, Impington	751,500
	3,548,500	3,436,000

The properties were revalued	the trustees	sources.	The values	are
fair value based on open market	value.
INVESTMENTS			2023	2022
Circuit Finance Board managed	fund		1,587	1,676
2 Mowlam Close, Impington				763,500
12Moss Drive, Haslingfield		570,000
Investment account			60,236	60,987
		631,823		826,163

INVESTMENTS - continued	INVESTMENTS - continued
GAINS AND LOSSES			Transfer
Year ended	31st August 2023	Book Value	to/lrom	Net Interest				Book Value
		@	Tangible		and	Gains		@
		01.09.2022	Fixed Assets		Charges	/(Losses)	Revaluation	31.08.2023
2 Mowlam	Close, Impington	763,500	(763,500)
12 Moss Drive, Haslingfield			593,000				(23,000)	570,000
Circuit Finance Board managed
fund		1,676			29	(118)		1,587
Investment	account	60,987				(751)		60,236
		826,163	(170,500)		29	(869)	(23,000)	631,823
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


DEBTORS			2023	2022
Other debtors			7,845	6,633
CREDITORS			2023	2022
Due within one year:
Assessment income			46,024	46,995
Audit fee accrual			2,950	2,900
Other creditors			1,461	1,202
			50,435	5 1.,097
RESTRICTED FUNDS	Brought			Carried
Year ended 31stAugust 2023	forward	Income Expenditure	Transfers	forward
Youth Work	152			152
Hany Jackson Fund	12,662			12,662
	12,814			12,814
RESTRICTED FUNDS	Brought			Carried
Year ended 31stAugust 2022	forward	Income Expenditure	Transfers	forward
Youth Work	2,857	(2,705)		152
Ilarry Jackson Fund	12,662			12,662
	15,519	(2,705)		12,814

12.	ANALYSIS OF NET ASSETS BETWEEN FUNDS		Unrestricted	Restricted	Total
	Year ended 31st August 2023		Funds	Funds	Funds
	Tangible fixed assets		3,548,500		3,548,500
	Investments		631,823		631,823
	Net current assets		356,165	12,8]4	368,979
			4,536,488	12,814	4,549,302
	ANALYSIS OFNET ASSETSBETWEEN FUNDS		Unrestricted	Restricted	Total
	Year ended 31st August 2022		Funds	Funds	Funds
	Tangible fixed assets		3,436,300		3,436,000
	Investments		826,163		826,163
	Net cun ent assets		379,018	12,814	391,832
			4,641,481	12,814	4,653,995
13.	RELATED PARTIES
	The Methodist Church is a related patty and during the year a contribution		or levy off,l5,795 (2022:		618657)
	was paid to it out ofthe capital receipts received by the Circuit.
	The Lays is a related party and during the year a donation	was received of6105 (2022:8105).

RECONCILIATIO ACTIVITIES	N OF NET	M	OVEMENT IN FUNDS TO NET	CASH FLOW FROM OPERATIN	G
				2023	2022
Net movement in	funds			(104,693)	214,258
Adjustments for:
(Gains)/losses on	revaluatiou	of	fixed assets	58,000	(223,000)
(Gains)/losses on	revaluation	of	investments	23,869	(37,414)
Interest and rents	&om investments			(21,993)	(28,427)
Increase/(decrease)	in creditors			(662)	(2,468)
(Increase)/ decrease in debtors				(1,212)	(6,633)
Net cash provided	by operating		activities	(46,691)	(83,684)