2021-08-31-accounts - Teignbridge Methodist Circuit

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

						Circuit	Model
				General	Fund	Trust		Restricted	Total	Total
			Note	(Unrestricted) 6		(Unrestricted) f		Funds f	2020-2t 8	2010-20
Income
Donations and legacies					4,630				4,630	2,105
Income from monetary investments					329		1,509		1,838	0,152
Income from investment	properties				18,630				18,830	9,570
Assessments on Churches					184,153				184,153	182,639
Profit on disposal of manse
Grants received
Other charitable income					4,661				4,661	5,201
Total income					212,603		1,509		214,112	205,807
Expenditure
Grants and donations			8		1,920				1,920	49,10T
Salaries and associated	costs		9		154,251				154,251	102,920
Property expenses			10		35,327				35,327	19,32T
Connexional assessment	8 model trust levy				9,110		27,489		36,599	37,950
District Assessment 8 Levy					49,620				49,620	49,426
TMCP Levy
Office expenses			11		4,528		967		5,495	6,288
Other outgoings			12		5,311			4,000	9,311	11,937
Total charitable expenditure					260,067		28,456	4,000	292,523	336,963
Gains/(losses) on monetary		investments
Gains/(losses) on investment		properties			35,000				35,000
Net income/(expenditure)					(12,464)		(26,947)	(4,000)	(43,411)	(131,296/
Transfers between funds					90,000		(90,000)
Other gains/(losses)
Net movement in funds					77,536		(116,947)	(4,000)	(43,411)	(131,296/
Total funds brought forward					1,418,570		483,186	26,121	1,927,877	2059,173
Total funds carried forward					1,496,106		366,240	22,121	1,884,466	1,927,87T

			General Fund	Circuit Model	Restricted	Totals		Totals
			(Unrestricted)	Trusts	Funds	2020/21		2019/20
		Notes		(Unrestricted)
Fixed Assets
Circuit Menses 8 Equipment		13	1,008,296			1,008,296		1,'008,296
Investment ro erties		14	275,000			275,000		240,000
Investments
Total fixed	assets		1,283,296			1,283,296		1,248,296
Current Assets
Debtors			11,688			11,688		1'2,286
Loans by the Circuit			16,077			16,077
Investments with TMCP				366,240		366,240		483,188
Central Finance Board De	osits		214,845		22,121	236,966	'	248,407
Cash at Bank and in hand			5,025			5,025		4,391
Total current	assets		247,635	366,240	22,121	635,996		T48;270
Current liabilities
Creditors due in under 1 year			34,826			34,826		68,689
Grants payable within 2020/21
Tote/ curren tliabilities			34,826			34,826		88,689
Net current essets/liabilities			212,809	366,240	22,121	601,170		679,581
Total assets less	current
liabilities			1,496,105	366,240	22,121	1,884,466		1,927,877
Long term liabilities
due after more than one	ear
Grants payable after 2020/21
Loans to the Circuit
Net	assets		1,496,105	366,240	22,121	1,884,466		1,92T,87T
Funds ofthe Circuit
General Fund (Unrestricted)			1,496,105			1,496,105		1,418,570
Circuit Model Trust Fund
(Unrestricted)				366,240		366,240		483 185
Designated Funds (Unrestricted
Total Unrestricted	Funds		1,496,105	366,240		1,862,345		1,901,756
Restricted Funds		15			22,121	22,121		26,121
Endowment Funds
Total	Funds		1,496,105	366,240	22,121	1,884,466		1,927,8TT
					Signed	R G Francis

5	Income from investment	Income from investment	properties	properties	properties	properties					2021		2020,	2020,	2020,
	46 Kingsdown Crescent										9,060		8;820,
	llsington Graveyard										570		750		'
	35Valley Close										9,200
											18,830		9,570		',
6	Assessments
	In order to respond	to the	impact		of Covid			19restrictions		on	church income		the Circuit		granted	a
	holiday ofthree months on assessments							in both the current			period and the		previous	period.
	In the opinion of the Trustees			the	effect ofthese two holidays						will be	to allow circuit churches to
	return to normal following		the	end	of lockdown.
7	Other charitable income										2021		2020
	Publications										331	'	421
	Connexional funds										4,330		4,780		I
											4,661		5,201		'
8	Grants &Donations										2021		2020,
	The Avenue Church	children		&family worker									15,000		'
	Plymouth &Exeter	District training				fund							465
	Water Aid												702
	South Molton &Ringsash		Circuit										1,000
	LWPT										200		200
	Plymouth &Exeter District benevolent						fund				120		140
	Ivybridge Youth for	Christ	bus								600		600
	The Avenue Church	disabled		toilets									30,000
	Buda & Holsworthy	market chaplain									1,000		1,000
											1,920		49,107
9	Paid employees										2021		2020
	Staff costs incurred	during	the year			were:
	Gross salaries	and benefits			in kind			Ministers		116,841			138,655
								Others			32,415		15,'406
	Travelling Expenses										4,995		8,867
										154,251			162,928
	No employee was paid at		a rate of			more than C60,000			per annum.
	Average number of	full time equivalent					employees				2021 6		20205'
10	Property expenses										2021		2020
	Water rates										1,673		1,613
	Council tax										6,496		7,750
	Manses										12,874		2,494
	Insurance										3,369		3,777
	Building surveys										4,413		2,529
	Church repairs										3,000
	Let properties										3,502		1,'/64
											35,327		19,327

fund is the .	Corbyn Fund	which is for	education and	outreach in th
As at	Funds	As at	Funds
31/08/2019	expended	31/08/2020	expended	As at 31/08/2021
30,121	4,000	28,121	4,000	22,121