NEWARK AND SOUTHWELL METHODIST Circuit
ACCOUNTS FOR THE YEAR ENDED 31 August 2024
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Un - Circuit
restricted Model Trust Restricted Totals this Totals last
SECTION A Funds Fund Funds year year
a1 RECEIPTS Note £ £ £ £ £
a2 Assessment/Share 2 161,671 161,671 156,916
a3 Capital receipts 3 272,301 272,301
a4 Bank and CFB interest and
Investment income
2,135 10,075 12,210 4,574
a5 Grants 4 9,744 9,744
a6 Other receipts 5 10,000 5,000 15,000 1,382
a7 TOTAL RECEIPTS 173,806 287,376 9,744 470,926 (a8) 162,872
SECTION B
b1 PAYMENTS
b2 Stipends, salaries, NIC, Pension and
travel costs 6 112,207 9,744 121,951 121,111
b3 Manse Costs 7 22,444 22,444 26,571
b4 Administration etc 8 6,852 6,852 5,783
b5 District Assessment 46,228 46,228 50,552
b6 Grants & donations 9 13,500 13,500 51,800
b7 Other worship costs 10 4,799 4,799 3,304
b8 Other payments 11 7,108 120,369 127,477 8,143
b9 TOTAL PAYMENTS 213,138 120,369 9,744 343,251 (b9) 267,264
SECTION C
NET RECEIPTS/PAYMENTS FOR
THE YEAR
c1 (a7-b9) (39,332) 167,007 127,675 (104,392)
c2 Total funds brought forward from last year 91,578 20,576 754 112,908 (c6) 217,300
c3 Sub total (c1+c2) 52,246 187,583 754 240,583 112,908
c4 Transfers and adjustments 10,339 (10,339) (c7)
c5 TOTAL FUNDS AT END OF YEAR (c3+c4) 62,585 177,244 754 240,583 (c8) 112,908 (c6)
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| d1 d2 d3 d4 d |
SECTION D FOR INFORMATION ONLY: MONEY RECEIVED AND PASSED ON TO EXTERNAL ORGANISATIONS 2,950 2,950 (these amounts should not be included in total receipts/payments above) Offerings/Gifts - passed to external organisations BALANCE STILL TO BE PAID (d1 + d2 - d3) Offerings/Gifts - received for external organisations Balance brought forward from last year |
- Note 15 3,341 3,341 |
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NEWARK AND SOUTHWELL METHODIST
Circuit
SUMMARY OF CIRCUIT ACCOUNTS AND INTERNAL ORGANISATION REPORTING TO THE CIRCUIT MEETING
SECTION E Please follow the Guidance Notes to complete this page
Summary of the Circuit accounts for the year ended 31 August 2024 and Internal Organisations reporting to the Circuit Meeting. Note that the funds of an Internal Organisation would normally be Restricted funds unless it could be clearly shown that they could be used for any Methodist purpose. This section must be completed to arrive at the gross receipts and payments totals of the Circuit. If gross income exceeds the Accruals threshold of £250,000, then the Accruals method of accounting AND A DIFFERENT FORM must be used to report the accounts (see Methodist website). Please refer to the guidance notes regarding transfers between the Circuit and connected Circuit Organisations.
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INTERNAL Net Receipts/ Opening
ORGANISATIONS Receipts Payments Payments Adjustments balances Closing balances
e1
e2
e3
e4
e5
e6
e7
Sub total of Internal
e8 Organisations funds (e11) (e12)
Circuit accounts (totals
brought forward from
e9 page 2 - totals column) 470,926 (a8) 343,251 (b9) 127,675 (c7) 112,908 (c6) 240,583 (c8)
TOTAL CASH FUNDS
e10 HELD BY CIRCUIT 470,926 343,251 127,675 112,908 (x) 240,583 (y)
Continue on a separate TOTAL
sheet if necessary and TOTAL RECEIPTS PAYMENTS
bring the totals forward
SECTION F
STATEMENT OF ASSETS AND LIABILITIES
OPENING CLOSING
CIRCUIT - CASH FUNDS HELD at 31 August 2024 BALANCES BALANCES
f1 Cash in hand
f2 Bank Current Account 12,072 14,395
f3 Bank Deposit Account
f4 Central Finance Board 156 164
f5 Trustees for Methodist Church Purposes 100,680 226,024
f6 Other funds
f7 SUB TOTAL 112,908 (c6) 240,583 (c8)
Total funds held by Internal Organisations (the
f8 closing balance totals above) (e12) (e11) (e12)
f9 TOTAL CASH FUNDS HELD BY CIRCUIT 112,908 (x) 240,583 (y)
SECTION G At At
OTHER ASSETS and LIABILITIES 1 September 2023 31 August 2024
g1 Investments (include Endowments)
g2 Land and Buildings (see notes re Insurance value) 1,007,591 1,034,978
g3 Other Assets
g4 Loan(s) - show amount outstanding at year end 10,000
g5 Other Liabilities
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f4 Include only Funds held at the Central Finance Board
f5 Include only CFB Funds held at Trustees for Methodist Church Purposes
g1 Include any other investments (not the cash element of TMCP trust accounts this is inserted in line f5)
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NEWARK AND SOUTHWELL METHODIST CIRCUIT YEAR ENDED 31 AUGUST 2024 NOTES TO THE ACCOUNTS
1 Basis of accounting
The method of accounting used is receipts and payments. Receipts and payments are statements that summarise the movement of cash into and out of the charity during the financial year, the one exception being that assessment payments by churches in August 2024 totalling £10,207, which relate to the 2024/25 year, have been carried forward to that year. Cash includes cash equivalents, for example bank current accounts, deposits with CFB and deposits with TMCP.
| 2024 £ 2 Assessments received Balderton 17,440 Charles Street 31,116 Collingham 18,964 Elston 0 Hope Community 39,249 Long Bennington 5,681 North End 8,225 North Muskham 7,640 Southwell 26,576 Sutton-on-Trent 6,780 161,671 The assessment received from Hope Community Church includes £14,023 relating to previous years. 3 Capital receipts Model Trust Fund Sale proceeds of Hawtonville Chapel 272,301 4 Grants Restricted Nottingham and Derby Methodist District for lay workers 9,744 5 Other receipts Model Trust Fund Donation to Pension Reserve Fund refunded 5,000 General Fund Repayment of loan to Hope Community Church 10,000 Elston Chapel surplus funds 0 10,000 25,000 |
2023 £ 22,613 35,092 20,616 774 17,311 5,681 8,225 7,640 32,796 6,168 156,916 0 0 0 0 1,133 1,133 1,133 |
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NEWARK AND SOUTHWELL METHODIST CIRCUIT YEAR ENDED 31 AUGUST 2024 NOTES TO THE ACCOUNTS (continued)
| 6 Stipends, salaries NIC, pension conts. and other payroll expenses Presbyters Stipends Employer's NIC Employer's pension contributions Training Presbyters' travel costs Telephone and broadband Other expenses Local Lay Pastors Salaries Employer's NIC Employer's pension contributions Telephone Travel costs Course fees and sundries Total Restricted Unrestricted 7 Manse Costs Council tax Water Insurance Security Repairs and maintenance 8 Administration Unrestricted Funds Salary Rent of circuit office (2 years) Office telephone and broadband Printing, postage and stationery Equipment Payroll bureau charges Restricted Fund- LWPT sec exps |
2024 £ 61,372 5,959 15,624 0 3,840 912 235 87,942 28,600 1,436 1,033 150 1,075 1,715 34,009 121,951 9,744 112,207 121,951 5,585 1,531 2,029 0 13,299 22,444 3,047 1,760 115 856 594 480 6,852 0 6,852 |
2023 £ 84,005 8,051 21,731 465 4,970 1,477 0 120,699 0 0 0 0 0 0 0 120,699 0 120,699 120,699 6,800 1,314 1,974 18 16,465 26,571 2,973 220 484 923 91 480 5,171 44 5,215 |
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NEWARK AND SOUTHWELL METHODIST CIRCUIT YEAR ENDED 31 AUGUST 2024 NOTES TO THE ACCOUNTS (continued)
| 2024 £ 9 Grants and donations Charles St - Warm Space 500 Southwell - replacement of lift 8,000 Southwell - family worker 5,000 Sutton on Trent - AV equipment 0 Southwell - lighting and heating imps 0 Balderton - building project 0 Balderton - family worker 0 Benevolent Fund payments 0 13,500 10 Other worship costs Supernumeraries preaching fees and travel costs 3,546 Worship and resources 1,253 4,799 11 Other payments Unrestricted Funds Quinquennial inspection fees 2,520 Apprentice levy 513 Bank charges 62 TMCP administration charge 228 Miscellaneous 251 Elston Chapel costs 3,218 Balderton manse costs 602 Paid for Collingham - refunded 2023/24 -286 7,108 Model Trust Fund TMCP levy 514 TMCP administration charge 59 Connexional Priority Fund levy on sale of Hawtonville chapel 84,920 Due to Circuit from sale proceeds of Hawtonville chapel 34,876 120,369 127,477 12 Money received for and paid to external organisations Circuit charity - Afghan Welcome 0 Methodist Church World Mission Fund including JMA 1,635 Methodist Women in Britain 200 LWPT 55 Support of Presbyters and Deacons 195 Methodist Training Fund 60 Methodist Ministers Housing Society 205 Methodist Property Fund 600 2,950 |
2023 £ 500 0 5,000 1,000 1,000 40,000 3,300 1,000 51,800 2,711 912 3,623 2,310 412 140 460 694 3,726 0 286 8,028 473 54 0 0 527 8,555 100 1,956 230 45 295 160 145 410 3,341 |
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NEWARK AND SOUTHWELL METHODIST CIRCUIT YEAR ENDED 31 AUGUST 2024 NOTES TO THE ACCOUNTS (continued)
13 Fund movements
| 13 | Fund movements | ||||||
|---|---|---|---|---|---|---|---|
| Opening | Receipts | Payments | Transfers | Closing | |||
| balance | balance | ||||||
| £ | £ | £ | £ | £ | |||
| Unrestricted funds | |||||||
| General Fund | 4,309 | 171,716 | 183,643 | 70,203 | 62,585 | ||
| Designated Funds | |||||||
| Local lay pastors | 0 | 0 | 24,266 | 24,266 | 0 | ||
| Circuit mission | 20,392 | 715 | 38 | -21,069 | 0 | ||
| Youth and family work | 66,877 | 1,375 | 5,191 | -63,061 | 0 | ||
| Unrestricted Model Trust Fund | 91,578 20,576 |
173,806 287,376 |
213,138 120,369 |
10,339 -10,339 |
62,585 177,244 |
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| Restricted Funds | |||||||
| LWPT | 754 | 754 | |||||
| Local lay pastors | 9,744 | 9,744 | 0 | ||||
| 754 | 9,744 | 9,744 | 0 | 754 | |||
| Total Funds | 112,908 | 470,926 | 343,251 | 0 | 240,583 | ||
| 14 | Analysis of funds between bank accounts | ||||||
| Charities Aid Foundation | General Designated Model Trust £ £ £ 13,641 Unrestricted Funds |
Restricted Funds £ 754 |
Total £ 14,395 |
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| Central Finance Board | 164 | 164 | |||||
| TMCP 9197 - Model Trust | 34,875 | 177,244 | 212,119 | ||||
| TMCP 22098 - Holland (beque 13,905 |
13,905 | ||||||
| 62,585 | 0 | 177,244 | 754 | 240,583 | |||
| 15 | Commitments | 2,024 £ |
2023 £ |
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| The following grants, support payments and loans | |||||||
| had been approved at Circuit Meeting but had not | |||||||
| been expended at the balance sheet date. | |||||||
| Hope Community Church - net proceeds from sale | |||||||
| of Hawtonville chapel plus interest received | 155,292 | 0 | |||||
| Southwell family worker | 5,000 | 5,000 | |||||
| Barnbygate loan to be repaid from property sale | 0 | -10,000 | |||||
| 160,292 | -5,000 |