## **THE METHODIST CHURCH CENTRAL NORFOLK CIRCUIT.** _Registered Charity No 1134271_ # **Trustees Annual Report and Financial Statements for the year ended 31st August 2021.** 1 ## **CONTENTS** Title Page and Name of the Charity 1 Contents 2 Legal and Administrative Details of Charity 3-4 The Report of the Trustees 5-8 Statement of Trustees’ Responsibilities 9 2 # **LEGAL AND ADMINISTRATIVE DETAILS** ## **Trust Address** 5 Cromwell Close, Swaffham. PE37 7TT. ## **Auditors Independent External Examiner** Arden Kendall Limited Chartered Certified Accountants 20 High Street, Watton, Norfolk IP25 6AE ## **Bankers** Barclays Bank plc 34 Market Place, Dereham, Norfolk, NR19 2AS 3 ## **Trustees of Central Norfolk** The Trustees are appointed according to the constitution of the Methodist Church (see page 5). The following Trustees have served during the period covered by this report: Superintendent Minister: Revd Jacqueline Horton Ministers: Revd Cliff Shanganya, Revd Anne Richardson, Deacon Jen Woodfin Revd Rosemary Wakelin, Revd Barbara Winner (until March 2021) Circuit Stewards: Pippa Cook, Aileen Fox, John Hull, Jill Skinner, Geraldine Allen Circuit Treasurer: Lewis Pearson Circuit Meeting Secretary: Mandy Etherington **Additional Trustees for the period 1[st] September 2020 – 31st August 2021** |**Church Steward**|**Dates (if not full**
**year)**|**Treasurer**|**Dates (if not full**
**year)**|**Representative**|**Dates (if not full**
**year)**| |---|---|---|---|---|---| |Ian Spooner||WendyHull||Ann Pope|| |Samantha Parfitt||Ruth Southerland||Olwyn Brough|| |Peter Gwatkin||Sylvia Meredith||JackyWoor|| |David Yarham||Hazel Yarham||Ann Morgan|| |Roger Fulcher||Beryl Ewin||David Ewin|| |Pat Hall||Peter Saunders||Pauline Baldry|| |Heather Parle||Anne Richmond||Eileen Kittell|| |Joselyn Bunting||Graham Holdsworth||TonyHey|| |Stephen Lynn||Veronica Little||Sheila Lynn|| |Andrew Durrant||Fred Garner||Malcolm Hunt|Until 12/10/2020| |Maggie Blundell||Diana Pengelley||Geraldine Allen|| |SallyMartin||Avril Temple||Freda Banyard|| |Margaret Pomery||Helen Dye||Ann Silvey|| |Bert Etherington||Malcolm Cook||Glyn Constantine|From 1/3/2021| |Jo Trick||Sarah Rodgers||Vera Dye|| |Derek Lee||Bryan Plumbly||Jean Nield|| |Ailsa Warburton||Joyce Gathercole||Elizabeth Lodge|| |Thelma Davey||Paul Nettleship|Until 31/7/2021|Barbara Slattery|| |Elsie Warby||Sadie Spalding||Martin Neave|| |Cynthia Howlett||Anna Hall|From 2/10/2020|Marion Perryman|| |Judith Semmons|Until July2021|Michael Coleman||TonyYaxley|| |Elizabeth Jolly|Until 25/12/2020||||| 4 ## **REPORT OF THE TRUSTEES** The Trustees have pleasure in presenting their report for the year ended 31st August 2021 under the Charities Act 1993, together with the audited financial statements for the year. We confirm that the latter comply with the requirements of the Act, the Trust Deed and the Charities Statement of Recommended Practice (SORP) 2005. The Trust was registered on 12th February 2010 in accordance with the Charities Act 2011. Particulars of the charity’s trustees and professional advisers are given on pages 3 and 4. ## **Structure, Governance and Management** The charity is operated under the regulations of the Methodist Church as stated in _The Constitutional Practice and Discipline of the Methodist Church_ with advice from Officers of the Methodist Church. ## **Governing Body** The Trustees are the Governing Body of the Trust. ## **Recruitment of Trustees** The Charity Trustees are appointed to the roles identified on page 4, for a designated period, either by direct election at the Circuit Meeting for Circuit Office Holders, or by individual Church Councils who elect their representatives to the Circuit Meeting. ## **Organisational Management** The management of the Trust is the responsibility of the Trustees. It is conducted through the Circuit Leadership Team and Circuit meetings. Circuit Staff assist in the implementation of policies. The day to day administration of the Circuit is the responsibility of the Superintendent Minister and the Circuit Stewards. ## **Aims, Objectives and Activities** The objectives of the Central Norfolk Circuit are those as set out for the Methodist Church of Great Britain in the Deed of Union 1932 and the 1976 Methodist Church Act. The charitable objects are the purposes of the Methodist Church and these are the advancement of: - (a) the Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church; - (b) any charitable purpose for the time being of any Connexional, district, circuit, local or other organization of the Methodist Church; - (c) any charitable purpose for the time being of any society or institution subsidiary or ancillary to the Methodist Church; - (d) any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church. 5 ## **The Central Norfolk Methodist Circuit 14/15** ## **Mission Statement** ## _**Aim:**_ **Our mission is to live and share the good news of God’s love in Jesus Christ** ## _**Objectives:**_ We are therefore committed to: ## **1. Connecting the Circuit as One:** - To Enrich Worship. - To provide a joyful and relevant Christian presence in our communities. - To respond to the Holy Spirit and to be open for change and hope for the future. - To be effective in communication. **2. Working in partnership,** wherever possible, with other churches, faith and community groups; and to support the Church’s wider mission. **3. Support all our activities in prayer** , by encouraging words and practical actions. **4. Nurturing** mutual support and pastoral care, enhanced by Christian education and training for all ages. **5. Develop Circuit Teams** that use peoples’ gifts, skills and abilities that can be shared in these areas: - Worship, - Learning and Caring, - Mission and Evangelism, - Under 19’s and - Finance and Property. To be reviewed as required. Each church is urged to explore what this means for them, involving all members of the church community. (Updated March 2013). ## **Achievements and Performance** Many of the churches within the Central Norfolk Circuit had reopened by September 2020, adhering to all Government guidelines. Strict social distancing was observed, and some churches introduced a ‘booking’ system to ensure church buildings were not overcrowded. Track and trace forms were completed, masks worn, windows and door left open for ventilation and sanitiser was provided throughout. Some churches, however, remained closed or changed worship patterns and met less frequently. Further closures then took place during the lockdowns of November 2020 and January to March 2021. Many of the initiatives the Circuit introduced at the start of the pandemic therefore continued, and other new initiatives were added; - Production of the ‘Worship at Home’ sheet, for Circuit members to use for weekly worship in their own homes, continued and, by 31[st] August 2021, 76 editions had been produced . Members were encouraged to use the sheet to worship at a specific time in order to continue to feel part of the church community. It continued to be distributed within the Circuit, by post, by hand, or via email. A rota for writing the reflection for the Worship Sheet was added to the quarterly Preaching Plan. 6 - In November 2020, the Circuit started using Zoom for regular Sunday services. Whilst there had been a few ‘special’ services held via Zoom, and The Pilgrim Church at Walsingham had been using it for fortnightly services, up to this point it had not been widely used as for worship across the Circuit. However, during lockdown in November, worship took place via Zoom at 11.15 am and 6 pm each Sunday. This then continued throughout the lockdown in early 2021. The services were attended by a large number of people from all churches within the Circuit. - ‘Tuesday at 7’ was a new initiative which started in January 2021. There was a weekly meeting via Zoom, and each week had different theme; - 1[st] Tuesday – Quiz night - 2[nd] Tuesday - 'Share': (A favourite Poem for example) - 3[rd] Tuesday: 'Coffee and Meet' (A member of Circuit staff) - 4[th] Tuesday: 'Introduction to' (Mark’s Gospel, for example) - 5[th] Tuesday: Something Different! - Also via Zoom, there was a short time of prayer from 8.45 – 9 am on Monday, Tuesday & Thursday mornings using a mixture of the Methodist Worship Book, the Methodist Prayer Handbook and open prayer. There was also the opportunity to participate in prayer via ‘Prayer Wheels’, involving each participant receiving, and making, one telephone call to pass on the prayer topics of the day. - Pastoral care continued under the guidance of the Circuit staff, through regular phone calls, letters and emails. Some churches also organised volunteers to shop etc for other, more vulnerable, members of the community. - ‘Thought for the Day’ continued on the Circuit Facebook page. There was also an Advent calendar during December 2020, and in January 2021, a New Year Challenge posted each day during and ’60 at 6’ - candle-lighting at 6 pm each day for 60 seconds to enable prayer for particular people and situations. - The Circuit Website continued to provide information, news and publications, worship resources, photographs. Over 250 photographs were sent in from around the Circuit for the ‘virtual’ Open Gardens event which took place throughout the Summer. - In October 2020, the Circuit meeting took place via Zoom. Although attendance was slightly down on previous ‘actual’ meetings, it was an opportunity to catch up on decisions regarding Circuit business, finances and property. Further Zoom Circuit meetings were held in March and June 2021. - In the Autumn of 2020, a new Circuit project was created at a closed chapel in Great Cressingham. The Hive is a ‘new place for new people’ - a centre for creativity, spirituality and well-being, connecting with people in today’s world. The project was launched on 19th December with an outdoor Son et Lumiere called The Christmas Story. It continues to hold a seasonal series of events and attracts people from the local community along with other members of the Circuit. - As part of the Rural Replanting Project, a community garden was created at Blakeney Methodist Church and Walsingham began to gradually reopen to visitors, pilgrims and for occasional services. ## **Financial Review** The Trustees report a net loss of income of £86,570 The Trustees continue to keep all financial policies under review. ## **Investment Policy** In accordance with the Trust documentation, the Trustees have the power to invest in such stocks, shares, investments and property as they consider appropriate. The Trustees have used this power to invest in the funds of the Central Finance Board of the Methodist Church. In common with many other investment funds, the valuation of the funds showed a modest increase over the year. The Trustees continue to monitor the funds of the Circuit to enable clear and prudent policy decisions on expenditure. 7 ## **Risk Assessment and Management** During the year under review, the Trustees have maintained oversight of the major risks to which the charity is exposed, resulting in risk management strategies being implemented. Risks to which the organisation may be exposed are identified by the Trustees and kept under regular review. ## **Reserves** It is the policy of the charity to hold reserves in its unrestricted funds which have not yet been committed or designated for any particular purpose. The Trustees have set aside these reserves in order to protect the future operations of the charity from the effects of any unforeseen variations in its income as part of a policy of good financial practice. ## **Public Benefit** The Trustees have reviewed the activities of the past year in line with the Charity Commission guidance on public interest benefit. The aims and objectives of the Central Norfolk Circuit are within those guidelines and are interpreted by the District as providing specific benefit to those who are members of the Methodist Church ## **Future Plans** In addition to an ongoing commitment to provide effective resources for the members, local churches and within the Central Norfolk Circuit, the Trustees are committed to: - Ensure the appointment and deployment of ordained ministry throughout the Circuit. - Provide support for those who have oversight of safeguarding procedures for children, young people and vulnerable adults. - Develop partnerships with other churches. ## **Auditors** A resolution proposing that Arden Kendall Limited be re-appointed as the independent external examiner of the charity will be put to the Circuit Meeting. ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**|
Aileen Fox|| |---|---|---| ||Mrs Aileen Fox|Mr Lewis Pearson| ||
Senior Circuit Steward|Circuit Treasurer| ||7thJune 2022|| ||7thJune 2022|| 8 ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), and that they show a true and fair view of the state of the Central Norfolk Circuits affairs. In preparing these financial statements, the Trustees are required to: - Select suitable accounting policies and then apply them consistently. - Observe the methods and principles in the Charities SORP. - Make judgements and estimates that are reasonable and prudent. - State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Central Norfolk Circuit will continue in operation. The Trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time, the financial position of the Central Norfolk Circuit and enable them to ensure that the financial statements comply with the Charities Act 2011 and Trust Deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: - There is no relevant audit information of which the charity’s auditors are unaware. - The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 9 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesl members of The Central Norfolk Methodist Circuf( On accounts for the year ended 31 August 2021 Charity no (if any) 1134271 Set out on page$ l ￿port to the trustees on my examination of the accounts of the above charty {Ihe Tnjsf) for the year ended 31 August 2021. Rgsponsib*lilies and As the chanty trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 Ilhe Acri I ￿port in resFed of my examination of the Trusl's a¢￿unt$ Carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by Ihe Chanty Commission under section 145(5llb} of the Act. I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no cOn￿mS and have come across no other matters in connection with the examination to which attention should ￿ drawn in order to enable a proper understanding of the accounts to be reached. . Please delete the words in the brackets rfthey do not appty. Slgned: Date: Name: Robert Kendall Relevant professional quo1ifi¢ation{sl or body Irf any).. FCCA Address: 38 High Street Watton Norfolk. IP25 6AE Section B Disclosure Only complete rf the examiner needs lo highlight matters of concem (see CC32, Independent examination ol charity accounts". direth'ons and guidance for examiners). IER Octobèr 2018 The Central Norfolk Methodist Circuit (Chartty Registration number. 1134271) Financial Ststements For the year ended 31 August 2021 N*m• gfciwcult Th• C•ntr•l Norfolk ll•thothtCl￿UlI Cl￿￿11 Nts= 14116 Statement of Flnanclal Aetsvil￿ (SOFA) for y•ar•nd•d 31 AUg￿t2021 Ggr*f•l Cwr¥it DMl9nai•d RtttrlCt￿ End¢>￿￿1 Fund IAod•l Tnwt Funds Funds Funds Total 2020-21 Totsl 2019.20 Incom• 1 Donabons 8no *gaoe$ 2 Income fmm rn(w￿t3rykn￿sknlenI$ 3 Income Ywestmeni wcw1*5 729 5,474 18.900 172.345 2,824 27,900 164.533 •X¢ S Caprt* Receip 6 Gr8nt8 recewed 7 Olfw Chantaw Tot•1 In¢¢ffl• 18AOO 3,970 221,723 18,500 2,183 218,131 216.692 2.078 1530 1.413 10 Exp•ndituro 9 Gran15 and don81 10 SaLiries and 88sotiated 11 Pilyty m&lntth)¥￿ 12 COnn￿Onal 88£tstswI & mtyj tr￿￿1 levy 13 Di51rfctAs¥ewnerK & L 14 Depreuation 15 Office expenses 16 Other othgoirv 17 Total charlthbl• •xp•ndNw• 18 GaIr￿l￿O$4tS) inve$imeM$ 19 G8in*iknsxsl on propert*s 20 N•t lncom9ll•￿kndkn￿•l 21 Transfers bet¥￿en (und$ 22 Otherg8in51fjosses1 23 •l•t movqm•nt th fv* 24 Total lunas tsi￿ht forw8[ 25 To¢al fowrd 36,369 169,062 22.719 69.696 178.213 33.612 21719 '¥-s 4,536 44h93 5,289 42,503 "'424,"827 4:£ 4h.. 24.827 6.287 308393 18.430 6.6S4 354.397 15 271.128 4.937 47 32.168 .1￿741.. 19.257 11,5971 54 397 205.246 87.383 1391 16.882 1M8J 131,2391 403.274 787510 13 1416,190 854,893 1*." 3,292.115 2,437,222 3.16S 2.176,925 3,292.115 397,5711 16,8B2 1A83 36.981 1717,972 135.803 16M4 701 Name of ClrcuiL. The Cen￿1 Norfolk Methodlst Circuit Clrcult No: 14115 Balance Sheet as at 31 August 2021 Unrestrlcted ¢lr¢ult R￿t￿t•d Funds ErwJ¢)wm•nt Funds lots1• 2021 Total6 2020 Fund Fund8 Tnmts Flxed Assets Circuit Manses & E L8nd & Investment Investments rotai fixed•Mets ment roperbes 1.887.630 1.887,630 666,800 127,283 2.681.713 2.252.279 651.028 143.747 3.047,054 9&10 .127,2&3 127,283 2.554A30 Current A¥selS Debtors Loans to the C1￿1t Investments hwth TMCP Central Finartt Board Oeposit5 Cash 31 Bank and in hand Tot81 currnnt•ss•ts Current Ilabl1￿88 Cr8ditor5 (due In under 1 year) Totsi CU￿ntIl￿)Illtl•s Net cu￿nt a$$ots￿l•bllftl•$ 259 5.007 67.713 202.622 9,365 284.986 13.458 16.331 3.174 32,9S3 175,469 14,479 223.495 172.768 14.479 187M31 2.701 13.458 16,331 1701 3.174 24.289 24.289 163,542 4,938 4.938 $20 47 29.283 29,283 194.212 39.905 39.905 245.081 47 16384 1701 3,165 Tol818ssets l•ss Current Ilabllltlos 1717.972 136.803 16.284 1701 3.165 1875.925 3.292.116 Provis￿￿$ for katr*'Irt￿ ar es Net8ss8ts 2.717,972 135,803 16.284 1701 3.18S 1876,92S 3,292,115 Funds of th8 Clr¢ull General Fund Iunrestridedl Circuit Model Twst Fund Ivnrestrictedl Designated Funds IUnrestsTCtedl Total Unrnstrfcted Funds Re$iricted Funds Endowment Fund$ TotalFunds 2.717.972 2.717.972 3,115.543 135.803 135.￿3 118.921 12 16.2B4 16,284 2.870.059 2.701 3.165 1875.525 14.801 3.249.28S 39,682 3,168 3.292.115 12 2.701 3,165 3,165 2,717,972 135.803 16284 1701 Signed Circuit Treasurer Notes to the Accounts l Basis of accounting The finanaal statements h8¥e been wep8￿ uThJ8rthe Charfi# Act 20114n wlh the 2014 version of Accounting and Reporting by Charities.. Slalemeni of Re￿mmended Practre ISORPI appl￿ble to tharities prepariry their accounts in XC0rd￿ FRS102- Ihe Charili8s SORP IFRS1021 and takw note ofthe Update Buifetin 1 issued in 2016. 2 Funds The funds hel* o)nslitthe.' General Funds hekl tr arry wpjse ofthe Ciitrjtt whth are Unre5thcted. The CirrAJit Model Trust Fund hasmde puwes defined in Standing Orders is cale90ri5ed as unrestrrted. R8slricted funds wh￿h are held for a nammer puw. no lunds. Detsils ofe%h material lund are disdosed in the final note to Ihese a(xx)urt5. Any fvnds may b8 re￿senied by fflore than ju51 cash. 3 A¢¢ounting pollcles Basis These accounts have been [Kepa￿d on the basis of INstcrfical uJ$t except that inveslm*ts are shown at Ih8lf mathet value at the end of Ihe yea¥, on Ihe ac¢yuals b85B lo Sh(￿ a Irue and tsirwe*4 of the cIr￿rt'S ftnancial po￿ts.0n and actNities. In¢oming Resources Income is induded ￿ the Slatemenlof FinaTrxl Adiths ISOFAI the beo)mes entiled to the resources, and Ihe trustees a￿ reason* C￿ tW receive Ihe fysLwr￿'. and the monetsry valu8 can be measured with suifKyent reliaknlty. Resources Expended This is re(x)gnised when a lia￿ty is irojrred. ora rmslruL#Ne obliga*"on atise5, that resulls in the payment being unavoidable. Liabilth$ a￿ recww8•J as soon as an ol b￿rrf is conSide￿d rnore likety than not under the legal orconslnM* c*AWKin r￿mM￿l*￿a the Ciruht to pay ￿￿t re￿UrCeS. Grants Grants rnade by Ihe cl￿11 from its M fvThJs are rwnisèj al the th.mtr of8greemwt or when the CircJJit acc8pts that there is a legal ¢xoperal•Jnal cdtyjakn to make prynwt. VAT Sinr* the Circuit is ￿1 VAT registe￿. all input VAT 1$ wilh the exFaW to wlich tt refers. Tanglblo ffxod assets for use by the Circuil Tangible fixe(l a$5eis are caFitalised rf they can be used for more Ihan one year, and cost èt least £1.000. The freehdd prtwerty in ts ￿nIS al reVaIL￿ mst, of*ttth the knd ¢>￿pC￿￿t is deemed to be £20.CKKJ. No depreciaknn 1$ provided on the building berause Ihe trustees ￿nsider Ihe ￿rrent residual falr value of the manse buildings the assumption that it had reached Ihe end of Tts useftjl e¢(w￿￿1C life by the year-endl lo be not less than ils cwrenl val￿. Any d8pwab(ffi not be matenal. h88 been revie•￿￿ for impaimienl. Investment Properties Investment properties are held lor th? kw wwposes ofthe tharity. Inveslments Inveslrnents are valued in the b8￿r￿ sheet at mart•t al the yèw IrNestsMrrt iro)Th is in(*#kd in the ojunts when ￿Nabl* ￿ any gaw)s or rn4fal￿b￿ at the Y￿-end a￿ slhy*m in the SOFA. Debtors and Prepayments Oeblors relale principalty to the ofthe Sepknnbgr in A￿J￿t. pre￿￿uM ofthe in8wanc8 for September. Creditors c1edito￿ I￿Ude both siTh*y expw￿$ Ihe 1$1 quarterassessn￿ in August. 4 Paymont to Trustees There were no payments m•Je to trustees for8dd￿on* to the Cwuit by agreemeth vAih the Circuit Meetsng. th￿ excKTdes sli￿ndS. Trustee expenses 2019120 Number ofTrustees Total amount £6,108 £2.741 Expense paymenls p¥im*rty reL4le to reimbursement for travel and computing costs S Fees for examlnalion or audlt of the ac¢ounts 2020121 2019120 Independent examinels or audit￿5, fees for reFQrting on the ax(￿nts Other lees leg.. adv￿, ￿OuntarY servwl to the irKleperKlent examiner or auditor 120 120 414 6 Paid employees Stsff Colts pald durfjng the y•ar wern: . Gross wages, salaries and beneffts in kind 2020r21 2019120 Empl¢)yerfs National Insurance Costs Pension costs Total staff costs 23,790 992 1.427 25,217 Average numb•r of fullkn equlvalgnt •mploy••s In thfr y•ar w•rn: 7 Capitsl Commllments and Contlng•nt Llabilities 2020121 2019120 Approved grants to Circuit d)urches and ￿￿oleCts 8 For infomation only recelved ond passed M to External Isations 2020121 2019120 Balanc• brought foThrnrd from last year OfferingslGifts- received for Eyternal Organi￿t￿$ OfferingslGifts . passed to Extemal Oryanisat*)ns Balance carrl•d foThAvd 9 Tangible Flxed Assets Cost or valuation Flxtures. fitting$ and equipment Payments on ac¢t)unt and under Inv•stm*nl Properti•8 Land bulldlngs Total Balan￿ brou hl forward 20,CIJ) 631,028 2.185063 2,903 307 Additions Revaluations 35,283 54.397 Dis 389.124 14,150 403 274 Transfers ' Balance calried foThvard 20,OCQ 2 945.711 Aceumulat8d d•pr•¢latlon Balance brou ht foThvard Depreck4tion charge for ear Revalu*ions Dis osals Transfers. Balance carried forward Net book valu• Brou ht forward 631.028 2.185.C63 67,216 2 903,307 Carried fO￿ard 2945711 10 Investment assets The circ¢Jit has Investment propèrties, 3 Roses Court Vhlls and 12 Cromwell Close, Watton, current s11ing tenants The circuf( has no common investrnent fund hoklings 11 Loans The Circuit has not provided any loans to the cirujit during the year.. 12 Analy818 of designated and restricted funds 2020121 R•stri¢ted Fund Namg Opèning Balance Incoming R•source8 ReBourc nded Tr•n$f•rn Closing Balan¢0 Purpose of the fund Ivy Bamard Trust 36,134 240 132,168) {4,3751 Capital inveslmenl., interest to Ivy Barnard Fund Restn'cted Grant use as specified in trust Ivy Bamard Fund 850 170 (1.020) Rocklands MC Fund 2,698 2,701 For upkeep of land of lormer Rocklands MC Reslncted Totals 39.682 413 {32.1681 15,3951 2.701 Bertha Cork Trust 14,801 1,530 {4n 16,284 For general purpose5 eg. Discretionary grants et¢. Designated Totals 14.801 1.530 1471 16,284 'Compa￿tive analysis of rpstiicled fiinds 2019-2020 Restrl¢tsd Fund Name Op•nlng Balanc• Incoming Re￿u￿ R•sour¢e Expend8d Trnn$f•rs Clo¥lng Balanc• Purpo8• of th• fund Ivy Bamat Trust 35,800 633 {72) 1227) 36,134 Capital investment interest to Ivy Barnard Fund Ivy Bamard Fund 611 12 227 850 Restricted Grant use as SFecified in trust (Jeed Rocklands MC Fund 2,678 20 2.698 For upkeep of land of former Rocklands MC Restr￿ed Totals 39.089 {72 39.682 Bertha Cork Trust 15,540 144 {308) 15751 14.081 For general purptsses eg. Discretionary grants etc. Designated Totals 15,540 144 13081 15751 14,081 13 Analysis of Endowment funds 2020r21 Endowment Name Rocklands Methodist Church (MC) Htjw the captlal is invested TMCP Twstees, Interest Fund The current value of the capital Annual Income £3.174.24 £ 10.69 Whal the income was used for Upkeep of Rocklands graveyard TOTAL value of all ErKlowments £3,174.24 TOTAL Annual Income £ 10.69 The reasons for the transfets between funds were as follows.. Transfers for application of interest to specified purposes, also payments of approved grants to individuals or thurches as provided for in terms of bequest, trust deeds etc. CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesl members of The Central Norfolk Methodist Circuf( On accounts for the year ended 31 August 2021 Charity no (if any) 1134271 Set out on page$ l ￿port to the trustees on my examination of the accounts of the above charty {Ihe Tnjsf) for the year ended 31 August 2021. Rgsponsib*lilies and As the chanty trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 Ilhe Acri I ￿port in resFed of my examination of the Trusl's a¢￿unt$ Carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by Ihe Chanty Commission under section 145(5llb} of the Act. I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no cOn￿mS and have come across no other matters in connection with the examination to which attention should ￿ drawn in order to enable a proper understanding of the accounts to be reached. . Please delete the words in the brackets rfthey do not appty. Slgned: Date: Name: Robert Kendall Relevant professional quo1ifi¢ation{sl or body Irf any).. FCCA Address: 38 High Street Watton Norfolk. IP25 6AE Section B Disclosure Only complete rf the examiner needs lo highlight matters of concem (see CC32, Independent examination ol charity accounts". direth'ons and guidance for examiners). IER Octobèr 2018 The Central Norfolk Methodist Circuit (Chartty Registration number. 1134271) Financial Ststements For the year ended 31 August 2021 N*m• gfciwcult Th• C•ntr•l Norfolk ll•thothtCl￿UlI Cl￿￿11 Nts= 14116 Statement of Flnanclal Aetsvil￿ (SOFA) for y•ar•nd•d 31 AUg￿t2021 Ggr*f•l Cwr¥it DMl9nai•d RtttrlCt￿ End¢>￿￿1 Fund IAod•l Tnwt Funds Funds Funds Total 2020-21 Totsl 2019.20 Incom• 1 Donabons 8no *gaoe$ 2 Income fmm rn(w￿t3rykn￿sknlenI$ 3 Income Ywestmeni wcw1*5 729 5,474 18.900 172.345 2,824 27,900 164.533 •X¢ S Caprt* Receip 6 Gr8nt8 recewed 7 Olfw Chantaw Tot•1 In¢¢ffl• 18AOO 3,970 221,723 18,500 2,183 218,131 216.692 2.078 1530 1.413 10 Exp•ndituro 9 Gran15 and don81 10 SaLiries and 88sotiated 11 Pilyty m&lntth)¥￿ 12 COnn￿Onal 88£tstswI & mtyj tr￿￿1 levy 13 Di51rfctAs¥ewnerK & L 14 Depreuation 15 Office expenses 16 Other othgoirv 17 Total charlthbl• •xp•ndNw• 18 GaIr￿l￿O$4tS) inve$imeM$ 19 G8in*iknsxsl on propert*s 20 N•t lncom9ll•￿kndkn￿•l 21 Transfers bet¥￿en (und$ 22 Otherg8in51fjosses1 23 •l•t movqm•nt th fv* 24 Total lunas tsi￿ht forw8[ 25 To¢al fowrd 36,369 169,062 22.719 69.696 178.213 33.612 21719 '¥-s 4,536 44h93 5,289 42,503 "'424,"827 4:£ 4h.. 24.827 6.287 308393 18.430 6.6S4 354.397 15 271.128 4.937 47 32.168 .1￿741.. 19.257 11,5971 54 397 205.246 87.383 1391 16.882 1M8J 131,2391 403.274 787510 13 1416,190 854,893 1*." 3,292.115 2,437,222 3.16S 2.176,925 3,292.115 397,5711 16,8B2 1A83 36.981 1717,972 135.803 16M4 701 Name of ClrcuiL. The Cen￿1 Norfolk Methodlst Circuit Clrcult No: 14115 Balance Sheet as at 31 August 2021 Unrestrlcted ¢lr¢ult R￿t￿t•d Funds ErwJ¢)wm•nt Funds lots1• 2021 Total6 2020 Fund Fund8 Tnmts Flxed Assets Circuit Manses & E L8nd & Investment Investments rotai fixed•Mets ment roperbes 1.887.630 1.887,630 666,800 127,283 2.681.713 2.252.279 651.028 143.747 3.047,054 9&10 .127,2&3 127,283 2.554A30 Current A¥selS Debtors Loans to the C1￿1t Investments hwth TMCP Central Finartt Board Oeposit5 Cash 31 Bank and in hand Tot81 currnnt•ss•ts Current Ilabl1￿88 Cr8ditor5 (due In under 1 year) Totsi CU￿ntIl￿)Illtl•s Net cu￿nt a$$ots￿l•bllftl•$ 259 5.007 67.713 202.622 9,365 284.986 13.458 16.331 3.174 32,9S3 175,469 14,479 223.495 172.768 14.479 187M31 2.701 13.458 16,331 1701 3.174 24.289 24.289 163,542 4,938 4.938 $20 47 29.283 29,283 194.212 39.905 39.905 245.081 47 16384 1701 3,165 Tol818ssets l•ss Current Ilabllltlos 1717.972 136.803 16.284 1701 3.165 1875.925 3.292.116 Provis￿￿$ for katr*'Irt￿ ar es Net8ss8ts 2.717,972 135,803 16.284 1701 3.18S 1876,92S 3,292,115 Funds of th8 Clr¢ull General Fund Iunrestridedl Circuit Model Twst Fund Ivnrestrictedl Designated Funds IUnrestsTCtedl Total Unrnstrfcted Funds Re$iricted Funds Endowment Fund$ TotalFunds 2.717.972 2.717.972 3,115.543 135.803 135.￿3 118.921 12 16.2B4 16,284 2.870.059 2.701 3.165 1875.525 14.801 3.249.28S 39,682 3,168 3.292.115 12 2.701 3,165 3,165 2,717,972 135.803 16284 1701 Signed Circuit Treasurer Notes to the Accounts l Basis of accounting The finanaal statements h8¥e been wep8￿ uThJ8rthe Charfi# Act 20114n wlh the 2014 version of Accounting and Reporting by Charities.. Slalemeni of Re￿mmended Practre ISORPI appl￿ble to tharities prepariry their accounts in XC0rd￿ FRS102- Ihe Charili8s SORP IFRS1021 and takw note ofthe Update Buifetin 1 issued in 2016. 2 Funds The funds hel* o)nslitthe.' General Funds hekl tr arry wpjse ofthe Ciitrjtt whth are Unre5thcted. The CirrAJit Model Trust Fund hasmde puwes defined in Standing Orders is cale90ri5ed as unrestrrted. R8slricted funds wh￿h are held for a nammer puw. no lunds. Detsils ofe%h material lund are disdosed in the final note to Ihese a(xx)urt5. Any fvnds may b8 re￿senied by fflore than ju51 cash. 3 A¢¢ounting pollcles Basis These accounts have been [Kepa￿d on the basis of INstcrfical uJ$t except that inveslm*ts are shown at Ih8lf mathet value at the end of Ihe yea¥, on Ihe ac¢yuals b85B lo Sh(￿ a Irue and tsirwe*4 of the cIr￿rt'S ftnancial po￿ts.0n and actNities. In¢oming Resources Income is induded ￿ the Slatemenlof FinaTrxl Adiths ISOFAI the beo)mes entiled to the resources, and Ihe trustees a￿ reason* C￿ tW receive Ihe fysLwr￿'. and the monetsry valu8 can be measured with suifKyent reliaknlty. Resources Expended This is re(x)gnised when a lia￿ty is irojrred. ora rmslruL#Ne obliga*"on atise5, that resulls in the payment being unavoidable. Liabilth$ a￿ recww8•J as soon as an ol b￿rrf is conSide￿d rnore likety than not under the legal orconslnM* c*AWKin r￿mM￿l*￿a the Ciruht to pay ￿￿t re￿UrCeS. Grants Grants rnade by Ihe cl￿11 from its M fvThJs are rwnisèj al the th.mtr of8greemwt or when the CircJJit acc8pts that there is a legal ¢xoperal•Jnal cdtyjakn to make prynwt. VAT Sinr* the Circuit is ￿1 VAT registe￿. all input VAT 1$ wilh the exFaW to wlich tt refers. Tanglblo ffxod assets for use by the Circuil Tangible fixe(l a$5eis are caFitalised rf they can be used for more Ihan one year, and cost èt least £1.000. The freehdd prtwerty in ts ￿nIS al reVaIL￿ mst, of*ttth the knd ¢>￿pC￿￿t is deemed to be £20.CKKJ. No depreciaknn 1$ provided on the building berause Ihe trustees ￿nsider Ihe ￿rrent residual falr value of the manse buildings the assumption that it had reached Ihe end of Tts useftjl e¢(w￿￿1C life by the year-endl lo be not less than ils cwrenl val￿. Any d8pwab(ffi not be matenal. h88 been revie•￿￿ for impaimienl. Investment Properties Investment properties are held lor th? kw wwposes ofthe tharity. Inveslments Inveslrnents are valued in the b8￿r￿ sheet at mart•t al the yèw IrNestsMrrt iro)Th is in(*#kd in the ojunts when ￿Nabl* ￿ any gaw)s or rn4fal￿b￿ at the Y￿-end a￿ slhy*m in the SOFA. Debtors and Prepayments Oeblors relale principalty to the ofthe Sepknnbgr in A￿J￿t. pre￿￿uM ofthe in8wanc8 for September. Creditors c1edito￿ I￿Ude both siTh*y expw￿$ Ihe 1$1 quarterassessn￿ in August. 4 Paymont to Trustees There were no payments m•Je to trustees for8dd￿on* to the Cwuit by agreemeth vAih the Circuit Meetsng. th￿ excKTdes sli￿ndS. Trustee expenses 2019120 Number ofTrustees Total amount £6,108 £2.741 Expense paymenls p¥im*rty reL4le to reimbursement for travel and computing costs S Fees for examlnalion or audlt of the ac¢ounts 2020121 2019120 Independent examinels or audit￿5, fees for reFQrting on the ax(￿nts Other lees leg.. adv￿, ￿OuntarY servwl to the irKleperKlent examiner or auditor 120 120 414 6 Paid employees Stsff Colts pald durfjng the y•ar wern: . Gross wages, salaries and beneffts in kind 2020r21 2019120 Empl¢)yerfs National Insurance Costs Pension costs Total staff costs 23,790 992 1.427 25,217 Average numb•r of fullkn equlvalgnt •mploy••s In thfr y•ar w•rn: 7 Capitsl Commllments and Contlng•nt Llabilities 2020121 2019120 Approved grants to Circuit d)urches and ￿￿oleCts 8 For infomation only recelved ond passed M to External Isations 2020121 2019120 Balanc• brought foThrnrd from last year OfferingslGifts- received for Eyternal Organi￿t￿$ OfferingslGifts . passed to Extemal Oryanisat*)ns Balance carrl•d foThAvd 9 Tangible Flxed Assets Cost or valuation Flxtures. fitting$ and equipment Payments on ac¢t)unt and under Inv•stm*nl Properti•8 Land bulldlngs Total Balan￿ brou hl forward 20,CIJ) 631,028 2.185063 2,903 307 Additions Revaluations 35,283 54.397 Dis 389.124 14,150 403 274 Transfers ' Balance calried foThvard 20,OCQ 2 945.711 Aceumulat8d d•pr•¢latlon Balance brou ht foThvard Depreck4tion charge for ear Revalu*ions Dis osals Transfers. Balance carried forward Net book valu• Brou ht forward 631.028 2.185.C63 67,216 2 903,307 Carried fO￿ard 2945711 10 Investment assets The circ¢Jit has Investment propèrties, 3 Roses Court Vhlls and 12 Cromwell Close, Watton, current s11ing tenants The circuf( has no common investrnent fund hoklings 11 Loans The Circuit has not provided any loans to the cirujit during the year.. 12 Analy818 of designated and restricted funds 2020121 R•stri¢ted Fund Namg Opèning Balance Incoming R•source8 ReBourc nded Tr•n$f•rn Closing Balan¢0 Purpose of the fund Ivy Bamard Trust 36,134 240 132,168) {4,3751 Capital inveslmenl., interest to Ivy Barnard Fund Restn'cted Grant use as specified in trust Ivy Bamard Fund 850 170 (1.020) Rocklands MC Fund 2,698 2,701 For upkeep of land of lormer Rocklands MC Reslncted Totals 39.682 413 {32.1681 15,3951 2.701 Bertha Cork Trust 14,801 1,530 {4n 16,284 For general purpose5 eg. Discretionary grants et¢. Designated Totals 14.801 1.530 1471 16,284 'Compa￿tive analysis of rpstiicled fiinds 2019-2020 Restrl¢tsd Fund Name Op•nlng Balanc• Incoming Re￿u￿ R•sour¢e Expend8d Trnn$f•rs Clo¥lng Balanc• Purpo8• of th• fund Ivy Bamat Trust 35,800 633 {72) 1227) 36,134 Capital investment interest to Ivy Barnard Fund Ivy Bamard Fund 611 12 227 850 Restricted Grant use as SFecified in trust (Jeed Rocklands MC Fund 2,678 20 2.698 For upkeep of land of former Rocklands MC Restr￿ed Totals 39.089 {72 39.682 Bertha Cork Trust 15,540 144 {308) 15751 14.081 For general purptsses eg. Discretionary grants etc. Designated Totals 15,540 144 13081 15751 14,081 13 Analysis of Endowment funds 2020r21 Endowment Name Rocklands Methodist Church (MC) Htjw the captlal is invested TMCP Twstees, Interest Fund The current value of the capital Annual Income £3.174.24 £ 10.69 Whal the income was used for Upkeep of Rocklands graveyard TOTAL value of all ErKlowments £3,174.24 TOTAL Annual Income £ 10.69 The reasons for the transfets between funds were as follows.. Transfers for application of interest to specified purposes, also payments of approved grants to individuals or thurches as provided for in terms of bequest, trust deeds etc.