**NEWARK AND SOUTHWELL METHODIST Circuit** ## **ACCOUNTS FOR THE YEAR ENDED 31 August 2024** **----- Start of picture text -----**
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)
**----- End of picture text -----**
|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| |---|---|---| R^0P and BS 2 of 5 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. **----- Start of picture text -----**
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
**----- End of picture text -----**
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) R^0P and BS 3 of 5 ## **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| |---|---| ## **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| |---|---|---| ## **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| |---|---| ## **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**| ||**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|| ||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
£|| ||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||