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|fortheyea|rended31Au|gust2023||
|---|---|---|---|
|Somerset Mendip Methodist|Circuit|<br>Circuitno|*07116|
|Registered Charity-Registration number|||1134237|
|Ministers|RevTina Swire-|Superintendent||
||RevMegSlingo|||
||RevCollinMoore|||
|CircuitStewards|JudithGole|||
||AngelaWittleton|||
||BarrySpeddings|||
||JacquiCobb|||
||MalcolmGale|||
||LoisEmm|||





## 

## 

|Nameof Circuit<br>SOMERSET|Nameof Circuit<br>SOMERSET|MENDIPCIRCUIT|MENDIPCIRCUIT|MENDIPCIRCUIT||CircuitNo|07lLG|
|---|---|---|---|---|---|---|---|
|statement ofFinancialActivities(soFA)||for theyear ended31August2023||||||
||Notesto<br>the|GeneralFund|CircuitModelDesignated<br> <br>Trust<br>Funds||Restricted|Endowment|Total|
||accounts|(Unrestrictedl|(Unrestricted)(unrestricted)Funds|||Funds|2022-23|
|||ffff||||f|f|
|lncome||||||||
|1Donations andlegacies<br>2lncomefrom monetaryinvestments<br>3Othertradingactivities<br>4Assessments on Churches<br>5Capital Receipt<br>6Grants received<br>7Other income|4<br>6<br>5<br>8<br>7|4,908<br>16,083<br>9,818<br>197,307<br>0|15,800<br>539,521||20,000<br>56||20,000<br>31,939<br>9,818<br>r97,307<br>539,521<br>0<br>4,908|
|8Totalincome||228,LL6|555,321||20,056|0|803,493|
|Expenditure||||||||
|9Grants and donations|||6,s33||1,000||7,533|
|10Stipends and relatedcosts|11|774,750|||||L74,t5O|
|11 Property maintenance||43,O76|20,628||2,687||66,391|
|12 DistrictLevy|||167,809||||t67,8O9|
|13 District Assessment||49,920|26,777||||76,631.|
|14 lnsurance& Utilities||75,797|||||15,797|
|15Telephone & Travel||73,625|||||L3,625|
|16Agents Commission onLets||7,307|||||L,3O7|
|17AdminCharges||7,246|7,347||4||2,597|
|18MinistryCosts||3,269|||665||3,934|
|19 Rounding||(1)|||1||0|
|20Totalcharitable expenditure|||223,028|0||0|529,774|
|21Gains/(losses) on monetary investments|||(362)||(s47l||(e0s)|
|22Gains/(losses) oninvestment properties|||||||0|
|23Net income/(expenditure)||174,273l-|331,931|0|15,152|0|272,8L0|
|24Transfers between funds||505,941|(s07,941)||2,000||0|
|25Other gains/(losses)|||||||0|
|26Net movementinfunds||431.668|1176,0101|0|t7|0|272,8t0|
|27 Totalfunds brought forward|||||||2,446,074|
|28Total funds carriedforward||2,189,606|296,804|200,000|32,474|0|2,7t8,A84|





## 

## 

## 

|StatementofFinancialActiviti|es(SOFA|)for theyea|r ended31A|r ended31A|ugust2022|ugust2022||||
|---|---|---|---|---|---|---|---|---|---|
||Notesto||CircuitModel||Designated|||||
||the|GeneralFund||Trust||Funds|Restricted|Endowment|Total|
||accounts|(Unrestrictedl|(Unrestricted)||(unrestricted)||Funds|Funds|202L-22|
|||ff||||f|f|f|f|
|lncome||||||||||
|1Donations andlegacies|4||||||||0|
|2lncomefrom monetaryinvestments|6|2,433||1,616|||7||4,056|
|3Othertrading activities|5|2,777|||||||2,771.|
|4Assessments on Churches||273,923|||||||2L3,923|
|5Capital Receipt|8|1,020||252,906|||7,315||26L,24t|
|6Grants received|||||||||0|
|7Other income|7|8,963|||||||8,953|
|8Totalincome||229,1t0||254,522||<br>0|7,322|0|490,954|
|Expenditure||||||||||
|9Grants and donations||||4,984|||1,000||5,984|
|10Stipends and relatedcosts|77|774,957|||||||L74,957|
|11Property maintenance||24,434|||||||24,434|
|12DistrictLevy||||77,762|||||77,L62|
|13 District Assessment||50,432||22,732|||||73,t64|
|14 lnsurance& Utilities||19,608|||||||19,608|
|15Telephone & Travel||12,585|||||||12,585|
|16Agents Commission onLets||346|||||||346|
|17AdminCharges||7,226||1,196|||||2,426|
|18MinistryCosts||5,498|||||||6,L97|
|19|||||||||0|
|20Total charitable expenditure||289,085||LO6,O74||0|L,703||395,863|
|21Gains/(losses) on monetary investments|||||||||0|
|22Gains/(losses) oninvestment properties||||(s72l.|||(60s)||11.,L771|
|23Net income/(expenditure!||(s9,976)||t47,876||0|5,014|0|92,9L4|
|24Transfers between funds||93,819||(94,819)|||1,000||0|
|25 Other gains/(losses)|||||||||0|
|26Net movementinfunds||33,843||53,057||0|6,014|0|92,9L4|
|27f oulfunds brought forward||!,724,O92||4L9,759||200,000|9,309||2,353,760|
|28Total funds carriedforward||1.,757,9t5||472,8L6||200,000|L5,323||2,M6,074|





## 

## 

## 

||||||Balance S|heetasat|31August|2023||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||General Fund|CircuitModel|Designated|Restricted|Funds|Endowment||Totals|2023|Totals|2022|
||||||(Unrestricted)|Trusts|Funds|||Funds||||||
|||||Notesto the||(Unrestricted)|(Unrestrictedl|||||||||
|||||Accounts|f|f|f|f||f||f||f||
|FixedAssets||||||||||||||||
|Circuit Manses&Equipment||||72|1,93L,734|||||||t,93t,734||7,494,793||
|lnvestmentproperties|||||||||||||0|||
|lnvestments||||13||8,777|||||||8,177||8,533|
||||Totolfrxedossets||L,93t,7t4|8,t71|0||0||0|1,939,905||1,503,326||
|Current Assets||||||||||||||||
|Debtors and Prepayments||||74|la170||||||||L8,379||tL,225|
|Loans bytheCircuit||||t7|||||||||0||0|
|lnvestmentswithTMCP||||18|223,329|288,633|200,000||15,161|||727,t23|||902,933|
|Central Finance Board||Deposits|||49,878||||17,3t3||||67,t9L||64,153|
|CashatBankand in|hand|||t4/18|13,743||||||||13,743||8,358|
||||Totolcurrentossets||305,329|288,633|200,000||32,474||0|826,436|||985,669|
|Current liabilities||||||||||||||||
|Creditors(duein under1|||year)|15|47,457||||||||47,457||43,92t|
|Grantspayablewilhin||2022-23|||||||||||0|||
|||Totalcurrent lidbilities|||47,457|0|0||0||0||47,457||43,921|
|Net|cunentossets/l iobiIities||||257,872|288,633|200,000||?2,474||0|778,979|||942,748|
|Totdlossetslesscurrent liobilities||||||||||||2,718,8U||2,446,074||
|Longterm liabilities||||||||||||||||
|ldue aftermorethan||onevearl||||||||||||||
|Grants payableafter2021--22|||||||||||||0|||
|Loansto the Circuit|||||||||||||0|||
||||||||||||||0|||
||||lvet ossets||2,189,606|296,804|200,000||12,474||0|2,7tA,AU||2,446,074||
|Fundsofthe Circuit||||||||||||||||
|GeneralFund(Unrestricted)|||||2,189,606|||||||2,189,606||!,757,938||
|Circuit Model Trust|Fund||(Unrestricted)|||296,804|||||||296,804||472,8t4|
|DesignatedFunds(Unrestricted)|||||||200,000||||||200,000||200,000|
||Toto||IUnrcstrictedF u nds|||||||||2,6A6,4L0||2,4?0,752||
|RestrictedFunds|||||||||32,474||||32,474||15,322|
|EndowmentFunds|||||||||||0||0|||
||||TotolFunds||||zoo,oool||lz,+tll||0|2,7ta,aa4||2,446,074||





|1.Basisof accounting||
|---|---|
||Thefinancial statementshavebeen prepared in accordance with Accounting ond Repofting by Chdrities: StatementoI|
||Recommended Proctice(SORP)applicabletocharities preparingtheiraccounts in accordancewith theFinancial Reporting Standard|
||applicableintheUKand Relpublicoflreland(FR5102)(effectivefrom1January 2015)-(CharitlesSORP(FRS102).|
|2.Funds||
||Thefundsheldconstitute:GeneralFundsheldforanypurposeoftheCircuitwhichareUnrestricted.TheCircuitModelTrustFund|
||haswide purposes definedinStanding Orders andiscategorisedasunrestricted.Restricted funds which are heldforanarrower|
||purpose.Therearealsothefollowing Endowmentfundsaslisted.Detailsofeachmaterialfundaredisclosedinthefinalnoteto|
||theseaccounts. Anyfundsmay be represented by more thanjustcash.|
|3.Accounting policies||
|Basis||
||Theseaccounts have been prepared onthebasisofhistorical cost exceptthatinvestments are shownattheirmarket valueattheend|
||of the year,ontheaccrualsbasistoshowatrueandfair view of the Circuit's financial position and activities.|
|lncomeRecognition||
||lncomeisincludedinthe StatementofFinancial Activities(SOFA)when the Circuit becomesentitled tothe resources,andthe|
||trusteesarereasonablycertaintheywill<br>receivetheresources; andthemonetaryvaluecanbemeasuredwithsufficientreliability.|
|ResourcesExpended||
||This isrecognised whenaliabilityisincurred, oraconstructive obligationarises,thatresultsinthepayment being unavoidable.|
||Liabilities are recognisedassoonasanoutflowof economic benefitisconsidered more likely thannotunderthelegal or constructive|
||obligationcommittingtheCircuittopayoutresources.|
|Grants||
||Grants madebytheCircuitfromits own funds are recognisedinfull at thetimeof agreement or whentheCircuitacceptsthat thereis|
||alegaloroperationalobligationtomakethepayment. Whenthegrantisrecurrentovermorethanoneyearthebalancepayablein|
||futureyearsistreatedas aprovisionfor futurecommitmentsintheBalanceSheet againsttheappropriate fund,theprovision being|
||releasedinfutureyearsasinstalments are paid in accordancewiththe originally agreed terms.|
|VAT||
||SincetheCircuitisnotVATregistered, all inputVAT ischargedwiththe expensestowhichitrefers.|
|Tangiblefixedassetsforuse|bythe Circuit|
||Theseare capitalisediftheycanbeusedformore than one year, and individually cost at leastf1,000.|
||Thefreehold propertyisshownintheaccounts at 2015 deemed costvalues.Nodepreciationisprovidedonthebuildingbecausethe|
||trustees considerthe currentresidual fair value ofthemanse buildings(ontheassumptionthatit had reachedtheend of its useful|
||economlclifebytheyear-end)tobenotlessthanitscurrentvalue.Anydepreciationwouldnotbematerial.<br>Thepropertyhasbeen|
||reviewedfor impairment.|
|lnvestment Properties||
||lnvestment properties - nopropertyiscurrently deemedtonot be heldfor thelongtermpurposesofthecharity.|
|lnvestments||
||lnvestmentsarevaluedinthebalance sheet at market value at the yearend.lnvestment incomeisincludedintheaccounts when|
||receivable andanygains orlosseson revaluation at the year endareshownintheSOFA.|
|Debtors and Prepayments||
||Debtors primarily relate tothepayment of the September stipendinAugust.|
|Creditors||
||Creditors include both sundry expenses and specificallythe1stquarter assessment receivedinAugust.|
|Going Concern|Theseaccounts have been prepared on the Going Concernbasis.|





|||Circuit||||
|---|---|---|---|---|---|
||UnresrictedModel Trust||Restricted|2023|2022|
|4.Donations andlegacies||Fund||Total|Total|
||E||e|E|f.|
|Donations|0|0|0|0|U|
|Legacies|||20,000|20,000||
|Total|0|0|20,000|20,000|0|
|||Circuit||||
||UnrestrictedModelTrust||Restricted|2023|2022|
|5.Other trading activities||Fund||Total|Total|
||EE|||E|e|
|Lettings (Frome Manse)|4,895|||4,89s|2,77t|
|Lettings (StreetMC)|4,923|||4,923|U|
|Total|9,818|0|0|9,818|2,771|
|||Circuit||||
||UnrestrictedModelTrust||Restricted|2023|2022|
|5.lnvestment income||Fund||Total|Total|
||ff|||€|E|
|Central FinanceBoard|16,08315,800||56|31,939|4,0s6|
|Total|16,083|<br>15,800|55|31,939|4,056|
|7.Other lncome||||||
|Otherlncome|4,908|0||4,908|8,963|



## 

|9. PaymenttoTrustees||This||Last||
|---|---|---|---|---|---|
|Payments madetotrusteesorrelatedfamilymembersfor||||||
|additionalservices providedto theCircuitbyagreement||||||
|with theCircuitMeeting|f|||||
|Numberoftrusteeswhowerepaidexpenses|||L4||15|



|Totalamountpaid||12,474|10,341|
|---|---|---|---|
|10.Feesforexamination or auditoftheaccounts||||
|lhdependentexaminer's orauditors'feesfor reporting||||
|ontheaccounts|€|s25|500|
|Other fees(eg:advice, accountancy services) paidto the||||
|independentexaminer orauditor|f|0|0|





## 

|11. Paid employees||||
|---|---|---|---|
|Stipends andrelatedcostspaid during theyearwere:||||
|Grosswages,salaries,stipendsand benefits in kind|f|L36,143|139,269|
|Employer's National lnsurancecosts|f|1,0,674|9,065|
|Pensioncosts|f|24,682|23,502|
|Supernummeries andPreachingfees|f|L,450|1,,875|
|AdminChargesandApprenticeLevy|f|1,207|1,,246|
|Total staffcosts|f|174,t50|174,957|
|Averagenumber ofstaffemployed during||||
|theyearwere:||5|6|



## 

|Costorvaluation||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Other fixed||||
|||||||||assets||Payments on||
|||||||||including|Fixtures,|account and||
|||Residential||||Other||motor|fittingsand|assetsunder||
|||Land||OtherLand|Manses|buildings||vehicles|equipment|construction|Total|
|||t||f|€|f||f.|€|E|t|
|Balancebroughtforward|||||1,494,793|||0|||1,,494,793|
|Additions|||||436,941,||||||436,94L|
|Revaluations (+/-)|||||||||||0|
|Disposals(-)|||||||||||0|
|Transfers(+/-)|||||||||||0|
|Balancecarriedforward|||0|n|1,93L,734||0|0|n|0|1,,937,734|
|Accumulated|Basis||||SLorRB|SLorRB||SLorRB|SLorRB|||
||Rate|||||||||||
|Balancebroughtforward|||||||||||0|
|Depreciationchargeforyear(-)|||||||||||U|
|Revaluations (+/-)|||||||||||0|
|Disposals(-)|||||||||||U|
|Transfers (+/-)|||||||||||U|
|Balancecarriedforward|||0|0|0||0|0|0|0|0|
|Net bookvalue||||||||||||
|Broughtforward|||||7,494,793||||||7,494,793|
|Carriedforward|||||7,93L,734||||||7,937,734|





## 

|An<br>of investment movements|||This|Last|||
|---|---|---|---|---|---|---|
|lnvestments listed onarecognised StockExchange|||||||
|lnvestments held in commoninvestmentfunds,|||||||
|Securitiesnotlisted onarecognised StockExchange|||8,171||8,s33||
|Other investments|||||||
||Total||8,17t||8,533||
|ininvestmentvalues|||||||
|Carrving(market)value at beginning of vear|||8,533||9,105||
|Add:additionstoinvestments at cost|||||||
|Less:disposals at carrying value|||||||
|Net eain/(loss) on revaluation|||0||-572||
|Carrying (market) value at end ofyear|||8,533||8,533||
|14.Analysisof currentassets|||Thisyear|||Lastyear|
|Debtors andprepayments|||e|||t|
|Prepaid Stipends|||1,3,546|||7,901,|
|Otherprepayments|||2366|||3,324|
|Otherdebtors|||2467|||0|
|Total debtors and prepayments|||L8,379|||Ll,225|
|Analysisofcashat bank|||||||
|Bankbalance held in Co-operativeBankplc|||13,743|||8,358|
|TotalCashandBank|||L3,743|||8,3s8|
|15.Analysisof current liabilities andlongtermcreditors|||||||
|Creditors||f|4,732|||1,896|
|Assessments in Advance||f|42,725|||42,02s|
|Total Current Liabilities||f|47,457|||43,921,|



## 



## 


## 

|UnrestrictedFundName|Opening|lncome|Expenditure|Transfers|Gainson|Closing|Purpose of thefund|
|---|---|---|---|---|---|---|---|
||Balance||||revaluation|Balance||
|General|1,534,609|214,687|288,9s8|505,941||1,966,279||
|Trust14855LongTerm|154,41,4|1L,243|Ll,243|||t54,474|Amalgamated previous|
|DevelopmentReserve|||||||Property Model Trust|
|Trust 6874 Unrestricted|68,915|2,1,86|2,186|||68,91s|Amalgamatedprevious|
|Bequests Reserve|||||||Model TrustBequests|
|Designated-Trust14855 Long|200,000|0|0|||200,000|Designatedfunds for capital|
|Term DevelopmentReserve|||||||investment|
|Designated-Circuit Model Trust|472,8t4|555,321|223,028|$a7,941,)|(362)|296,804||
|Fund||||||||
|Tota|2,430,752|783,437|525,415|(2,000)|(362)|2,686,412||
|RestrictedFunds||||||||
|RestrictedFundName|Opening|lncome|Expenditure|Transfers||Closing|Purpose of thefund|
||Balance|||||Balance||
|Trust13535-Training &<br>DevelopmentFund|1,450|56|1,668|2,000||1,838|Training of CircuitStaff-<br>lnternal Organisation|
|Trust10117 GeorgeJDyer|6,7lt||||(28s)|6,426|Support of Circuit Activities|
|Trust3566 Seymour Bequest|7,L61,||2||(262)|6,897|Support of Youth work|
|Ruth Tucker Bequest||20,000|2,687|||17,3t3|Upkeepof Wedmore|
||||||||graveyard, untilsold|
|Totals|15,322|20,056|4,357|2,000|(s47],|32,474||
|EndowmentName|Howthe|capitalis|current|valueofthe|Annual|income|What theincomewas|
||invested||ca||||usedfor|
||Totals|||||||





## 

## 

|Signature of Treasurer|ffida,||tft,lzory|
|---|---|---|---|
|Name||||
||MrsAngela Wittleton|||
|Address||||
||Drill Hall Cottage, Street Road, Glastonbury, Somerset,846gEF|||
|Presentation to theCircuitMeetingforapproval.||||
|Iconfirm that the Accounts have been presentedtothe Circuit Meetingon||1|5th November2023|
|and were approved.||||
|Signatureofthe Chair ofthe|Date|1SthNovember2023||
|meeting||||
|Name of the Chairofthe||||
|meeting|€euc..F(o-rf|||





## 

## 

## 

## 

## 

## 


## 




## 

## 

|fortheyea|rended31Au|gust2023||
|---|---|---|---|
|Somerset Mendip Methodist|Circuit|<br>Circuitno|*07116|
|Registered Charity-Registration number|||1134237|
|Ministers|RevTina Swire-|Superintendent||
||RevMegSlingo|||
||RevCollinMoore|||
|CircuitStewards|JudithGole|||
||AngelaWittleton|||
||BarrySpeddings|||
||JacquiCobb|||
||MalcolmGale|||
||LoisEmm|||





## 

## 

|Nameof Circuit<br>SOMERSET|Nameof Circuit<br>SOMERSET|MENDIPCIRCUIT|MENDIPCIRCUIT|MENDIPCIRCUIT||CircuitNo|07lLG|
|---|---|---|---|---|---|---|---|
|statement ofFinancialActivities(soFA)||for theyear ended31August2023||||||
||Notesto<br>the|GeneralFund|CircuitModelDesignated<br> <br>Trust<br>Funds||Restricted|Endowment|Total|
||accounts|(Unrestrictedl|(Unrestricted)(unrestricted)Funds|||Funds|2022-23|
|||ffff||||f|f|
|lncome||||||||
|1Donations andlegacies<br>2lncomefrom monetaryinvestments<br>3Othertradingactivities<br>4Assessments on Churches<br>5Capital Receipt<br>6Grants received<br>7Other income|4<br>6<br>5<br>8<br>7|4,908<br>16,083<br>9,818<br>197,307<br>0|15,800<br>539,521||20,000<br>56||20,000<br>31,939<br>9,818<br>r97,307<br>539,521<br>0<br>4,908|
|8Totalincome||228,LL6|555,321||20,056|0|803,493|
|Expenditure||||||||
|9Grants and donations|||6,s33||1,000||7,533|
|10Stipends and relatedcosts|11|774,750|||||L74,t5O|
|11 Property maintenance||43,O76|20,628||2,687||66,391|
|12 DistrictLevy|||167,809||||t67,8O9|
|13 District Assessment||49,920|26,777||||76,631.|
|14 lnsurance& Utilities||75,797|||||15,797|
|15Telephone & Travel||73,625|||||L3,625|
|16Agents Commission onLets||7,307|||||L,3O7|
|17AdminCharges||7,246|7,347||4||2,597|
|18MinistryCosts||3,269|||665||3,934|
|19 Rounding||(1)|||1||0|
|20Totalcharitable expenditure|||223,028|0||0|529,774|
|21Gains/(losses) on monetary investments|||(362)||(s47l||(e0s)|
|22Gains/(losses) oninvestment properties|||||||0|
|23Net income/(expenditure)||174,273l-|331,931|0|15,152|0|272,8L0|
|24Transfers between funds||505,941|(s07,941)||2,000||0|
|25Other gains/(losses)|||||||0|
|26Net movementinfunds||431.668|1176,0101|0|t7|0|272,8t0|
|27 Totalfunds brought forward|||||||2,446,074|
|28Total funds carriedforward||2,189,606|296,804|200,000|32,474|0|2,7t8,A84|





## 

## 

## 

|StatementofFinancialActiviti|es(SOFA|)for theyea|r ended31A|r ended31A|ugust2022|ugust2022||||
|---|---|---|---|---|---|---|---|---|---|
||Notesto||CircuitModel||Designated|||||
||the|GeneralFund||Trust||Funds|Restricted|Endowment|Total|
||accounts|(Unrestrictedl|(Unrestricted)||(unrestricted)||Funds|Funds|202L-22|
|||ff||||f|f|f|f|
|lncome||||||||||
|1Donations andlegacies|4||||||||0|
|2lncomefrom monetaryinvestments|6|2,433||1,616|||7||4,056|
|3Othertrading activities|5|2,777|||||||2,771.|
|4Assessments on Churches||273,923|||||||2L3,923|
|5Capital Receipt|8|1,020||252,906|||7,315||26L,24t|
|6Grants received|||||||||0|
|7Other income|7|8,963|||||||8,953|
|8Totalincome||229,1t0||254,522||<br>0|7,322|0|490,954|
|Expenditure||||||||||
|9Grants and donations||||4,984|||1,000||5,984|
|10Stipends and relatedcosts|77|774,957|||||||L74,957|
|11Property maintenance||24,434|||||||24,434|
|12DistrictLevy||||77,762|||||77,L62|
|13 District Assessment||50,432||22,732|||||73,t64|
|14 lnsurance& Utilities||19,608|||||||19,608|
|15Telephone & Travel||12,585|||||||12,585|
|16Agents Commission onLets||346|||||||346|
|17AdminCharges||7,226||1,196|||||2,426|
|18MinistryCosts||5,498|||||||6,L97|
|19|||||||||0|
|20Total charitable expenditure||289,085||LO6,O74||0|L,703||395,863|
|21Gains/(losses) on monetary investments|||||||||0|
|22Gains/(losses) oninvestment properties||||(s72l.|||(60s)||11.,L771|
|23Net income/(expenditure!||(s9,976)||t47,876||0|5,014|0|92,9L4|
|24Transfers between funds||93,819||(94,819)|||1,000||0|
|25 Other gains/(losses)|||||||||0|
|26Net movementinfunds||33,843||53,057||0|6,014|0|92,9L4|
|27f oulfunds brought forward||!,724,O92||4L9,759||200,000|9,309||2,353,760|
|28Total funds carriedforward||1.,757,9t5||472,8L6||200,000|L5,323||2,M6,074|





## 

## 

## 

||||||Balance S|heetasat|31August|2023||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||General Fund|CircuitModel|Designated|Restricted|Funds|Endowment||Totals|2023|Totals|2022|
||||||(Unrestricted)|Trusts|Funds|||Funds||||||
|||||Notesto the||(Unrestricted)|(Unrestrictedl|||||||||
|||||Accounts|f|f|f|f||f||f||f||
|FixedAssets||||||||||||||||
|Circuit Manses&Equipment||||72|1,93L,734|||||||t,93t,734||7,494,793||
|lnvestmentproperties|||||||||||||0|||
|lnvestments||||13||8,777|||||||8,177||8,533|
||||Totolfrxedossets||L,93t,7t4|8,t71|0||0||0|1,939,905||1,503,326||
|Current Assets||||||||||||||||
|Debtors and Prepayments||||74|la170||||||||L8,379||tL,225|
|Loans bytheCircuit||||t7|||||||||0||0|
|lnvestmentswithTMCP||||18|223,329|288,633|200,000||15,161|||727,t23|||902,933|
|Central Finance Board||Deposits|||49,878||||17,3t3||||67,t9L||64,153|
|CashatBankand in|hand|||t4/18|13,743||||||||13,743||8,358|
||||Totolcurrentossets||305,329|288,633|200,000||32,474||0|826,436|||985,669|
|Current liabilities||||||||||||||||
|Creditors(duein under1|||year)|15|47,457||||||||47,457||43,92t|
|Grantspayablewilhin||2022-23|||||||||||0|||
|||Totalcurrent lidbilities|||47,457|0|0||0||0||47,457||43,921|
|Net|cunentossets/l iobiIities||||257,872|288,633|200,000||?2,474||0|778,979|||942,748|
|Totdlossetslesscurrent liobilities||||||||||||2,718,8U||2,446,074||
|Longterm liabilities||||||||||||||||
|ldue aftermorethan||onevearl||||||||||||||
|Grants payableafter2021--22|||||||||||||0|||
|Loansto the Circuit|||||||||||||0|||
||||||||||||||0|||
||||lvet ossets||2,189,606|296,804|200,000||12,474||0|2,7tA,AU||2,446,074||
|Fundsofthe Circuit||||||||||||||||
|GeneralFund(Unrestricted)|||||2,189,606|||||||2,189,606||!,757,938||
|Circuit Model Trust|Fund||(Unrestricted)|||296,804|||||||296,804||472,8t4|
|DesignatedFunds(Unrestricted)|||||||200,000||||||200,000||200,000|
||Toto||IUnrcstrictedF u nds|||||||||2,6A6,4L0||2,4?0,752||
|RestrictedFunds|||||||||32,474||||32,474||15,322|
|EndowmentFunds|||||||||||0||0|||
||||TotolFunds||||zoo,oool||lz,+tll||0|2,7ta,aa4||2,446,074||





|1.Basisof accounting||
|---|---|
||Thefinancial statementshavebeen prepared in accordance with Accounting ond Repofting by Chdrities: StatementoI|
||Recommended Proctice(SORP)applicabletocharities preparingtheiraccounts in accordancewith theFinancial Reporting Standard|
||applicableintheUKand Relpublicoflreland(FR5102)(effectivefrom1January 2015)-(CharitlesSORP(FRS102).|
|2.Funds||
||Thefundsheldconstitute:GeneralFundsheldforanypurposeoftheCircuitwhichareUnrestricted.TheCircuitModelTrustFund|
||haswide purposes definedinStanding Orders andiscategorisedasunrestricted.Restricted funds which are heldforanarrower|
||purpose.Therearealsothefollowing Endowmentfundsaslisted.Detailsofeachmaterialfundaredisclosedinthefinalnoteto|
||theseaccounts. Anyfundsmay be represented by more thanjustcash.|
|3.Accounting policies||
|Basis||
||Theseaccounts have been prepared onthebasisofhistorical cost exceptthatinvestments are shownattheirmarket valueattheend|
||of the year,ontheaccrualsbasistoshowatrueandfair view of the Circuit's financial position and activities.|
|lncomeRecognition||
||lncomeisincludedinthe StatementofFinancial Activities(SOFA)when the Circuit becomesentitled tothe resources,andthe|
||trusteesarereasonablycertaintheywill<br>receivetheresources; andthemonetaryvaluecanbemeasuredwithsufficientreliability.|
|ResourcesExpended||
||This isrecognised whenaliabilityisincurred, oraconstructive obligationarises,thatresultsinthepayment being unavoidable.|
||Liabilities are recognisedassoonasanoutflowof economic benefitisconsidered more likely thannotunderthelegal or constructive|
||obligationcommittingtheCircuittopayoutresources.|
|Grants||
||Grants madebytheCircuitfromits own funds are recognisedinfull at thetimeof agreement or whentheCircuitacceptsthat thereis|
||alegaloroperationalobligationtomakethepayment. Whenthegrantisrecurrentovermorethanoneyearthebalancepayablein|
||futureyearsistreatedas aprovisionfor futurecommitmentsintheBalanceSheet againsttheappropriate fund,theprovision being|
||releasedinfutureyearsasinstalments are paid in accordancewiththe originally agreed terms.|
|VAT||
||SincetheCircuitisnotVATregistered, all inputVAT ischargedwiththe expensestowhichitrefers.|
|Tangiblefixedassetsforuse|bythe Circuit|
||Theseare capitalisediftheycanbeusedformore than one year, and individually cost at leastf1,000.|
||Thefreehold propertyisshownintheaccounts at 2015 deemed costvalues.Nodepreciationisprovidedonthebuildingbecausethe|
||trustees considerthe currentresidual fair value ofthemanse buildings(ontheassumptionthatit had reachedtheend of its useful|
||economlclifebytheyear-end)tobenotlessthanitscurrentvalue.Anydepreciationwouldnotbematerial.<br>Thepropertyhasbeen|
||reviewedfor impairment.|
|lnvestment Properties||
||lnvestment properties - nopropertyiscurrently deemedtonot be heldfor thelongtermpurposesofthecharity.|
|lnvestments||
||lnvestmentsarevaluedinthebalance sheet at market value at the yearend.lnvestment incomeisincludedintheaccounts when|
||receivable andanygains orlosseson revaluation at the year endareshownintheSOFA.|
|Debtors and Prepayments||
||Debtors primarily relate tothepayment of the September stipendinAugust.|
|Creditors||
||Creditors include both sundry expenses and specificallythe1stquarter assessment receivedinAugust.|
|Going Concern|Theseaccounts have been prepared on the Going Concernbasis.|





|||Circuit||||
|---|---|---|---|---|---|
||UnresrictedModel Trust||Restricted|2023|2022|
|4.Donations andlegacies||Fund||Total|Total|
||E||e|E|f.|
|Donations|0|0|0|0|U|
|Legacies|||20,000|20,000||
|Total|0|0|20,000|20,000|0|
|||Circuit||||
||UnrestrictedModelTrust||Restricted|2023|2022|
|5.Other trading activities||Fund||Total|Total|
||EE|||E|e|
|Lettings (Frome Manse)|4,895|||4,89s|2,77t|
|Lettings (StreetMC)|4,923|||4,923|U|
|Total|9,818|0|0|9,818|2,771|
|||Circuit||||
||UnrestrictedModelTrust||Restricted|2023|2022|
|5.lnvestment income||Fund||Total|Total|
||ff|||€|E|
|Central FinanceBoard|16,08315,800||56|31,939|4,0s6|
|Total|16,083|<br>15,800|55|31,939|4,056|
|7.Other lncome||||||
|Otherlncome|4,908|0||4,908|8,963|



## 

|9. PaymenttoTrustees||This||Last||
|---|---|---|---|---|---|
|Payments madetotrusteesorrelatedfamilymembersfor||||||
|additionalservices providedto theCircuitbyagreement||||||
|with theCircuitMeeting|f|||||
|Numberoftrusteeswhowerepaidexpenses|||L4||15|



|Totalamountpaid||12,474|10,341|
|---|---|---|---|
|10.Feesforexamination or auditoftheaccounts||||
|lhdependentexaminer's orauditors'feesfor reporting||||
|ontheaccounts|€|s25|500|
|Other fees(eg:advice, accountancy services) paidto the||||
|independentexaminer orauditor|f|0|0|





## 

|11. Paid employees||||
|---|---|---|---|
|Stipends andrelatedcostspaid during theyearwere:||||
|Grosswages,salaries,stipendsand benefits in kind|f|L36,143|139,269|
|Employer's National lnsurancecosts|f|1,0,674|9,065|
|Pensioncosts|f|24,682|23,502|
|Supernummeries andPreachingfees|f|L,450|1,,875|
|AdminChargesandApprenticeLevy|f|1,207|1,,246|
|Total staffcosts|f|174,t50|174,957|
|Averagenumber ofstaffemployed during||||
|theyearwere:||5|6|



## 

|Costorvaluation||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||Other fixed||||
|||||||||assets||Payments on||
|||||||||including|Fixtures,|account and||
|||Residential||||Other||motor|fittingsand|assetsunder||
|||Land||OtherLand|Manses|buildings||vehicles|equipment|construction|Total|
|||t||f|€|f||f.|€|E|t|
|Balancebroughtforward|||||1,494,793|||0|||1,,494,793|
|Additions|||||436,941,||||||436,94L|
|Revaluations (+/-)|||||||||||0|
|Disposals(-)|||||||||||0|
|Transfers(+/-)|||||||||||0|
|Balancecarriedforward|||0|n|1,93L,734||0|0|n|0|1,,937,734|
|Accumulated|Basis||||SLorRB|SLorRB||SLorRB|SLorRB|||
||Rate|||||||||||
|Balancebroughtforward|||||||||||0|
|Depreciationchargeforyear(-)|||||||||||U|
|Revaluations (+/-)|||||||||||0|
|Disposals(-)|||||||||||U|
|Transfers (+/-)|||||||||||U|
|Balancecarriedforward|||0|0|0||0|0|0|0|0|
|Net bookvalue||||||||||||
|Broughtforward|||||7,494,793||||||7,494,793|
|Carriedforward|||||7,93L,734||||||7,937,734|





## 

|An<br>of investment movements|||This|Last|||
|---|---|---|---|---|---|---|
|lnvestments listed onarecognised StockExchange|||||||
|lnvestments held in commoninvestmentfunds,|||||||
|Securitiesnotlisted onarecognised StockExchange|||8,171||8,s33||
|Other investments|||||||
||Total||8,17t||8,533||
|ininvestmentvalues|||||||
|Carrving(market)value at beginning of vear|||8,533||9,105||
|Add:additionstoinvestments at cost|||||||
|Less:disposals at carrying value|||||||
|Net eain/(loss) on revaluation|||0||-572||
|Carrying (market) value at end ofyear|||8,533||8,533||
|14.Analysisof currentassets|||Thisyear|||Lastyear|
|Debtors andprepayments|||e|||t|
|Prepaid Stipends|||1,3,546|||7,901,|
|Otherprepayments|||2366|||3,324|
|Otherdebtors|||2467|||0|
|Total debtors and prepayments|||L8,379|||Ll,225|
|Analysisofcashat bank|||||||
|Bankbalance held in Co-operativeBankplc|||13,743|||8,358|
|TotalCashandBank|||L3,743|||8,3s8|
|15.Analysisof current liabilities andlongtermcreditors|||||||
|Creditors||f|4,732|||1,896|
|Assessments in Advance||f|42,725|||42,02s|
|Total Current Liabilities||f|47,457|||43,921,|



## 



## 


## 

|UnrestrictedFundName|Opening|lncome|Expenditure|Transfers|Gainson|Closing|Purpose of thefund|
|---|---|---|---|---|---|---|---|
||Balance||||revaluation|Balance||
|General|1,534,609|214,687|288,9s8|505,941||1,966,279||
|Trust14855LongTerm|154,41,4|1L,243|Ll,243|||t54,474|Amalgamated previous|
|DevelopmentReserve|||||||Property Model Trust|
|Trust 6874 Unrestricted|68,915|2,1,86|2,186|||68,91s|Amalgamatedprevious|
|Bequests Reserve|||||||Model TrustBequests|
|Designated-Trust14855 Long|200,000|0|0|||200,000|Designatedfunds for capital|
|Term DevelopmentReserve|||||||investment|
|Designated-Circuit Model Trust|472,8t4|555,321|223,028|$a7,941,)|(362)|296,804||
|Fund||||||||
|Tota|2,430,752|783,437|525,415|(2,000)|(362)|2,686,412||
|RestrictedFunds||||||||
|RestrictedFundName|Opening|lncome|Expenditure|Transfers||Closing|Purpose of thefund|
||Balance|||||Balance||
|Trust13535-Training &<br>DevelopmentFund|1,450|56|1,668|2,000||1,838|Training of CircuitStaff-<br>lnternal Organisation|
|Trust10117 GeorgeJDyer|6,7lt||||(28s)|6,426|Support of Circuit Activities|
|Trust3566 Seymour Bequest|7,L61,||2||(262)|6,897|Support of Youth work|
|Ruth Tucker Bequest||20,000|2,687|||17,3t3|Upkeepof Wedmore|
||||||||graveyard, untilsold|
|Totals|15,322|20,056|4,357|2,000|(s47],|32,474||
|EndowmentName|Howthe|capitalis|current|valueofthe|Annual|income|What theincomewas|
||invested||ca||||usedfor|
||Totals|||||||





## 

## 

|Signature of Treasurer|ffida,||tft,lzory|
|---|---|---|---|
|Name||||
||MrsAngela Wittleton|||
|Address||||
||Drill Hall Cottage, Street Road, Glastonbury, Somerset,846gEF|||
|Presentation to theCircuitMeetingforapproval.||||
|Iconfirm that the Accounts have been presentedtothe Circuit Meetingon||1|5th November2023|
|and were approved.||||
|Signatureofthe Chair ofthe|Date|1SthNovember2023||
|meeting||||
|Name of the Chairofthe||||
|meeting|€euc..F(o-rf|||





## 

## 

## 

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