COVENTRY AND NUNEATON
METHODIST CIRCUIT
Circuit Number: 5/10 Registered Charity Number: 1134347
TRUSTEES'S ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2021
COVENTRY AND NUNEATON CIRCUIT TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 AUGUST 2021
Introduction
The Coventry and Nuneaton Circuit currently includes 15 churches (of which three are Local Ecumenical Partnerships) in Coventry and the North of Warwickshire. It oversees the work of the Methodist Church in this area and seeks to respond to the needs of its churches and communities.
Aims and organisation
We affirm that as the Methodist Church in the Coventry & Nuneaton Circuit we will encourage all God's people to:
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Love God with all their heart, mind, soul, and strength.
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Reflect God's love in words and actions.
As Methodists in this Circuit we will live out our calling by:
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Supporting varied and quality worship.
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Helping to deepen discipleship.
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Offering care and support.
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Responding to the needs of others, at home and in the world. Challenging injustice.
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Helping people share their faith.
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Making more followers of Jesus Christ.
Review of the year
Covid-19 cointinued to disrupt much of the year, with churches being closed for several months. Despite this, Ministers continued to provide support and services to their congregations across the Circuit. Church has been different, with some worship services being on-line, video conferencing used to bring people together. For those without technology to join in these services, printed worship sheets have been prepared and distributed.
The Circuit's Coffee Shop Sunday church format has thrived on-line and has members from across the UK and also internationally.
Income trends
Circuit income is primarily drawn from the assessment paid by the circuit churches, with £311292 raised during the year.
Two churches were sold during the year (MacDonald Road Methodist Church and Stockingford Methodist Church). Both churches had ceased being used for worship purposes some years ago, and the decision was taken to sell. This one-off income will be used for new projects as agreed by Circuit Trustees.
The Circuit has many volunteers who assist with its effective running. For example, stewards assist the leadership team with recruitment, others help to maintain the church manses. These services are not recognised in the accounts.
Expenditure trends
Ministerial stipends and allowances increased in line with conference approved rates. £90,978 of expenditure is the Circuit contribution to the District and Connexion, of which a significant part is used to fund the work of the wider Methodist Church. £77,274 of funding was provided from the circuit model trust fund for mission and growth projects around the circuit, but also included support for churches due to the financial impact of Covid-19.
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Fund balances
As at 31 August 2021 the net current assets of the Circuit were £1.25 million and total funds were £1.9 million. Total funds have increased compared to the previous year due to the sale of two church buildings.
Plans for 2021/22
We have an evangelical growth strategy that is being implemented over the next few years.
The strategy consists of 7 streams each led by a Circuit Steward and small team:
1. Children, Youth and Family - to nurture children and youth as disciples of Christ within the church family.
2. Discipleship through Learning and Caring - to inspire churches in their spiritual growth through small groups as a means of grace.
3. Evangelism and Church Planting - to work with churches as they practice principles of 'Church without Walls' and model church planting.
4. Justice, Compassion and Peace - to help provide food, shelter and clothing, offer safe space and comforting presence, listening ears and radical advocacy to victims of social inequality.
5. Staffing and Staff well-being - to promote, safeguard and nurture the ongoing well-being of Circuit staff and employees in order to comply with all recruitment, employement and appraisal towards sustainable growth in the Circuit.
6. Financing and Resourcing - to explore mission investment models toward the productive use of Circuit resources from which churches may draw inspiration from their vision growth projects.
7. Worship and Spirituality - to sustain a culture of worship vibrancy in the Circuit which appeals to members and visitors.
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Trustee's Annual Report of Finance and Governance
Basis of preparation and legal framework
The Charity's annual report and accounts for the year ended 31 August 2021 have been prepared in accordance with the Charities Act 2011 and the Accouting & Reporting by Charities SORP FRS102 effective 1 January 2019.
Full Name of Charity: Coventry and Nuneaton Methodist Circuit
Registration Charity Number: 1134347
Date of registration 16th February 2010
Main communication address: Bedworth Methodist Church, Mill Street, Bedworth CV12 8JZ
The members of the Coventry and Nuneaton Methodist Circuit Meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches. A list of Trustees is shown as Appendix A to this report.
Circuit Ministers and officers
Active Circuit Ministers Rev Marcus Torchon Rev Jane Braund Deacon Sheila Dawson Rev Stephen Willey Rev Doreen Koffie Williams Deacon Sue Fry (part-time) Rev Richard Wilde (part-time) Rev Keith Salter (part-time) Local Ecumenical Partnership Minister Rev Dr Allan Smith Circuit Youth Pastors Mr Ady White Ms Ruda Mvundura Circuit Stewards Mr Andy Pinks Ms Karen Brooks Mrs Tendai Mugodi (resigned 31/5/2021) Mrs Mary Hobbs (resigned 31/8/2021) Mr Peter Dipple Mr Trevor Gay Ms Perpetua Shaukaringwa (appointed 13/9/2021) Treasurer Mr Mike Hobbs Administrator Mrs Jane Bennett Independent examiner Azets Audit Services 3Mc Middlemarch Business Park, Siskin Drive, Coventry, CV3 4FJ Investment Bankers Central Finance Board of the Methodist Church Trustees for Methodist Church purposes
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Aims and organisation
Charity objective is to act as a Resource provider within the area around Coventry and Nuneaton for the Methodist Church:
The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:
a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;
b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation 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
In addition we:
Organise and resource regular public acts of worship open to members and non-members of the church.
Teach Christianity through sermons, courses and small groups. Resource pastoral work including visiting the sick and bereaved.
Take religious assemblies in local schools.
Promote Christianity through the staging of events and services. Provide chaplaincy services to the local university and other institutions.
Public Benefit
We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.
Structure, Governance and Management
The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976). Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD). Day to day management of the Circuit is undertaken by the Circuit Leadership Team along with the Local Preachers meeting, and Stream 6 Finance & Resourcing Team.
Trustee Training
A range of guidance produced by Methodist Connexion to support the effective running of the circuit , specifically the leaflet ‘The Role of a Trustee in The Methodist Church’ is given to all new Circuit meeting members as induction to their role as trustees.
Related Parties
The Circuit is part of the Birmingham District and is also accountable to the Methodist Conference. The following Methodist Churches are linked to the circuit:
Arley Balsall Common Bedworth Coventry Central Hall Collycroft Earlsdon Meriden Nuneaton Radford & Holbrooks Ridge Lane Ryton Woodside Ave
The following Local Ecumenical Partnerships are linked to the circuit: Atherstone Fillongley Horeston Grange
Method to appoint new Trustees
The existing trustees make appointments of new trustees when deemed necessary in order to perform the trust's objectives effectively. Trustees are selected from circuit churches on the basis of their relevant background and experience and are expected to actively support and further the charity's work.
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Risk Management
The major risks have been identified and recorded by the Circuit's Stream 6 Finance & Resources Team with professional advice taken as required.
Income and Expenditure is being monitored in total and is compared with the approved annual budget on a regular basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.
Safeguarding
Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm. Methodist Connexional practice outlines commitment to the following principles:
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the care and nurture of, and respectful pastoral ministry with, all children, young people and adults.
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the safeguarding and protection of all children, young people and adults when they are vulnerable.
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the establishing of safe, caring communities which provide a loving environment where there is
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informed vigilance as to the dangers of abuse.
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We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal record disclosures through the Disclosure and Barring Service (DBS)
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We will respond without delay to every complaint made which suggests that an adult, child or young
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person may have been harmed, cooperating with the police and local authority in any investigation.
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We will seek to work with anyone who has suffered abuse, developing with them an appropriate
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ministry of informed pastoral care.
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We will seek to challenge any abuse of power, especially by anyone in a position of trust.
• We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult.
In all these principles we will follow legislation, guidance and recognised good practice.
The Coventry & Nuneaton Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches.
The Coventry & Nuneaton Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.
Reserves Policy
The Reserves Policy for the Circuit is to hold a minimum sum equivalent to 3 months’ average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and / or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.
Approved by the board of trustees on 23 March 2022 and signed on its behalf by Rev Marcus Torchon.
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Balance Sheet for the year ended 31 August 2021
| Fixed assets Tangible assets Total fixed assets Current assets Debtors Cash at bank and in hand Current asset investments Total current assets Creditors: amounts falling due within one year Net current assets/(liabilities) Total assets Creditors: amounts falling due after one year Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds Restricted income funds Unrestricted funds Revaluation reserve Total funds Signed by one trustee on behalf of all the trustees |
Note Unrestricted funds Designated Funds £ F01 - 653,145 10 - 653,145 11 18,608 2,815 14 233,077 1,025,040 - - 251,685 1,027,854 12 (30,236) - 221,449 1,027,854 221,449 1,681,000 - - - - 221,449 1,681,000 16 16 221,449 1,681,000 221,449 1,681,000 Rev Marcus Torchon |
Restricted funds £ F02 - - - 5,393 - 5,393 (3,909) 1,484 1,484 - - 1,484 1,484 - 1,484 |
Total this year Total prior year £ £ F04 F05 653,145 653,145 653,145 653,145 21,423 17,547 1,263,509 1,003,555 - - 1,284,932 1,021,102 (34,145) (46,885) 1,250,788 974,217 1,903,933 1,627,363 - - - - 1,903,933 1,627,363 - - 1,484 1,501 1,902,449 1,625,862 - - 1,903,933 1,627,363 Date: 23/03/2022 |
|---|---|---|---|
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Charity No: 1134347
Coventry and Nuneaton Methodist Circuit (5/10) Annual accounts for the period 1/9/2020 to 31/8/2021
Statement of Financial Activities (SOFA)
| Unrestricted | Designated | Restricted | Endowme | |||
|---|---|---|---|---|---|---|
| funds | Funds | funds | nt funds | Total funds | ||
| £ | £ | £ | £ | |||
| Incoming resources | ||||||
| Income and endowments from: | ||||||
| Donations and legacies | 2 | 311,312 | 3,849 | - | - | 315,161 |
| Charitable activities | 2 | - | - | - | - | - |
| Other trading activities | 2 | - | - | - | - | - |
| Investments | 2 | 414 | 2,324 | 5 | - | 2,744 |
| Separate material item of income | 2 | - | 449,651 | - | - | 449,651 |
| Other | 2 | 4,235 | - | - | - | 4,235 |
| Total | 315,961 | 455,824 | 5 | - | 771,790 | |
| Resources expended | ||||||
| Expenditure on: | ||||||
| Raising funds | 3 | - | - | - | - | - |
| Charitable activities | 3 | (318,949) | (176,249) | (22) | - | (495,220) |
| Separate material item of expense | 3 | - | - | - | - | |
| Other | 3 | - | - | - | - | |
| Total | (318,949) | (176,249) | (22) | - | (495,220) | |
| Net income/(expenditure) | ||||||
| before investment | ||||||
| gains/(losses) | (2,987) | 279,575 | (17) | - | 276,571 | |
| Net gains/(losses) on investments | - | - | - | - | - | |
| Net income/(expenditure) | (2,987) | 279,575 | (17) | - | 276,571 | |
| Transfers between funds | 16 | (7,929) | 7,929 | - | - | - |
| Other recognised gains/(losses): | ||||||
| Gains and losses on revaluation of fixed | ||||||
| assets for the charity’s own use | - | - | - | - | - | |
| Other gains/(losses) | - | - | - | - | - | |
| Net movement in funds | (10,916) | 287,504 | (17) | - | 276,571 | |
| Reconciliation of funds: | ||||||
| Total funds brought forward | 16 | 232,366 | 1,393,496 | 1,501 | - | 1,627,363 |
| Total funds carried forward | 221,449 | 1,681,000 | 1,484 | - | 1,903,933 | |
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Coventry and Nuneaton Methodist Circuit (5/10) Annual accounts for the period 1/9/2020 to 31/8/2021
Statement of Financial Activities (SOFA) Prior Year
| Unrestricted | Designated | Restricted | Endowme | ||
|---|---|---|---|---|---|
| funds | Funds | funds | nt funds | Total funds | |
| £ | £ | £ | £ | ||
| Incoming resources | |||||
| Income and endowments from: | |||||
| Donations and legacies | 272,088 | 1,144 | - | - | 273,232 |
| Charitable activities | 2,500 | 1,500 | - | - | 4,000 |
| Other trading activities | - | - | - | - | - |
| Investments | 933 | 7,301 | 13 | - | 8,246 |
| Separate material item of income | - | 67,784 | - | - | 67,784 |
| Other | 330 | 2,400 | - | - | 2,730 |
| Total | 275,852 | 80,128 | 13 | - | 355,993 |
| Resources expended Expenditure on: |
|||||
| Raising funds | - | - | - | - | - |
| Charitable activities | (298,394) | (192,642) | (3) | - | (491,038) |
| Separate material item of expense | - | - | - | - | |
| Other | - | - | - | - | |
| Total | (298,394) | (192,642) | (3) | - | (491,038) |
| Net income/(expenditure) before investment gains/(losses) |
(22,542) | (112,513) | 10 | - | (135,046) |
| Net gains/(losses) on investments | - | - | - | - | - |
| Net income/(expenditure) | (22,542) | (112,513) | 10 | - | (135,046) |
| Transfers between funds | 16,000 | (16,000) | - | - | - |
| Other recognised gains/(losses): | |||||
| Gains and losses on revaluation of fixed assets for the charity’s own use |
- | - | - | - | - |
| Other gains/(losses) | - | - | - | - | - |
| Net movement in funds | (6,542) | (128,513) | 10 | - | (135,046) |
| Reconciliation of funds: | |||||
| Total funds brought forward | 238,883 | 1,522,034 | 1,491 | - | 1,762,409 |
| Total funds carried forward | 232,341 | 1,393,520 | 1,501 | - | 1,627,363 |
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Cash flow statement for the year ended 31 August 2021
This year Prior year
£ £
Cash from operating activities
Net cash provided by (used in) operating activities 257,211 (135,081)
Cash flows from investing activities
Dividends,interest and rents from investments 2 2,744 8,246
Proceeds from the sale of property,plant and equipment - -
Purchase of property,plant and equipment 10 - -
Purchase of intangible assets - -
Proceeds from the sale of investments - -
Purchase of investments - -
Other - -
Net cash provided by (used in) investing activities 2,744 8,246
Cash flows from financing activities
New borrowing 0 0
Repayments of borrowing 0 0
Net cash provided by (used in) financing activities 0 0
Change in cash and cash equivalents in the reporting period 259,955 (126,835)
Cash and cash equivalents at the beginning of the reporting period 14 1,003,555 1,130,389
Cash and cash equivalents at the end of the reporting period 1,263,509 1,003,555
This year Prior year
Reconciliation of net income to net cash flow from operating activities £ £
Net income/(expenditure) for the reporting period (as per SOFA) 276,571 (135,046)
Adjustments for:
Depreciation and amortisation charges - -
Profit on the sale of fixed assets - -
Loss on the sale of fixed assets - -
Gains on investments - -
Dividends, interest and rents from investments 2 (2,744) (8,246)
Decrease/(increase) in stocks - -
(increase)/decrease in debtors 11 (3,876) (1,585)
increase/(decrease) in creditors 12 (12,740) 9,796
Net cash used in operating activities 257,211 (135,081)
This year Prior year
Analysis of cash and cash equivalent £ £
Cash in hand 14 1,263,509 1,003,555
Short term deposit (less than 3 months) - -
Total cash and cash equivalents 1,263,509 1,003,555
Note
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Notes to the accounts
Note 1 Accounting Policies
Basis of preparation and legal framework
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.The accounts have been prepared in accordance with:
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the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 effective 1 January 2019).
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and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Based on the monetary assets and human resources available as at 31 August 2021, the trustees believe that the Circuit is a going concern.
The Circuit has denominational regulatory oversight in respect of the work of the Churches within the Circuit but has no legal or operational control of those Churches and their governing bodies except in extreme circumstances. For this reason, the accounts of the Churches within the Circuit are not consolidated into these financial statements.
Presentation, currency and rounding
The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when:
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the charity becomes entitled to the resources;
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it is more likely than not that the trustees will receive the resources; and
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the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP).
In the case of performance related grants, income is only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
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Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
Contractual income and performance related grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Donated goods
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution.
Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activities'.
Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
Donated services and facilities
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably.
Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Volunteer help
The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Income from interest, royalties and dividends
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Income from membership subscriptions
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
Settlement of insurance claims
Insurance claims are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SoFA.
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Investment gains and losses
This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation is recognised.
Redundancy cost
The charity made no redundancy payments during the reporting period.
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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ASSETS
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost. The depreciation rates and methods used are disclosed in the notes.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment.
Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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Notes to the accounts
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Note 2 Analysis of income
Unrestricted Restricted Endowment
funds funds funds Total funds Prior year
Analysis £ £
Donations Church Assessments:
and legacies: Arley 6,210 - - 6,210 7,269
Atherstone 2,000 - - 2,000 2,000
Balsall Common 35,741 - - 35,741 29,768
Bedworth 20,779 - - 20,779 18,099
Central Hall 59,660 - - 59,660 49,868
Collycroft 6,406 - - 6,406 8,084
Earlsdon 63,034 - - 63,034 49,339
Fillongley 4,800 - - 4,800 4,656
Horeston Grange 600 - - 600 600
Meriden 15,535 - - 15,535 12,418
Nuneaton 36,079 - - 36,079 34,555
Radford & Holbrooks 15,928 - - 15,928 13,811
Ridge Lane 2,518 - - 2,518 2,077
Ryton 11,917 - - 11,917 10,833
Woodside Ave 30,085 - - 30,085 28,400
Other donations 3,869 - - 3,869 1,455
Total 315,161 - - 315,161 273,232
Charitable Grants
activities: - - - - 4,000
- - - - -
Total - - - - 4,000
Other trading Lettings
activities: - - - - -
- - - - -
Total - - - - -
Income from Interest income 2,739 5 - 2,744 8,246
investments: - - - - -
Total 2,739 5 - 2,744 8,246
Separate Sale of two properties 449,651 - - 449,651 67,784
material item - - - - -
of income: - - - - -
Total 449,651 - - 449,651 67,784
Other: Other 4,235 - - 4,235 2,730
Total 4,235 - - 4,235 2,730
TOTAL INCOME 771,785 5 - 771,790 355,993
Other information:
All income in the prior year was £13 interest for funds held in the restricted Weatherall
unrestricted except for: Memorial Fund
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The sale of two properties relates to MacDonald Road Methodist Church and Stockingford Methodist Church. Both properties ceased to be used for worship purposes some time ago and the decision was taken to sell. As a result, this income is one-off.
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Notes to the accounts (cont)
Note 3 Analysis of expenditure
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Unrestricted Restricted Endowment
funds funds funds Total funds Prior year
Analysis £ £
Expenditure on - - - - -
raising funds:
- - - - -
Total expenditure on raising funds - - - - -
Expenditure on Stipends, Salaries, NIC & Pension 268,175 - - 268,175 224,301
charitable Supernumary/retired Minister fees 2,400 - - 2,400 1,300
activities
Travel
5,811 - - 5,811 8,753
Office
19,751 3 - 19,754 26,791
Insurance
3,031 - - 3,031 4,598
Manse occupation
13,811 - - 13,811 13,697
Manse Maintenance
4,522 - - 4,522 20,533
Other circuit property expenses 1,200 - - 1,200 17,441
Grants and donations
77,224 - - 77,224 54,148
District Assessments
64,896 - - 64,896 61,620
District Levy on surplus funds 26,082 - - 26,082 52,791
Training and other Ministerial 8,045 19 - 8,064 3,471
Stationing costs - - - - 1,595
Gifts
249 - - 249 -
Total expenditure on charitable
495,198 22 - 495,220 491,038
activities
Separate material - - - -
item of expense
- - - - -
- - - - -
Total - - - - -
Other
- - - - -
- - - - -
Total other expenditure - - - - -
TOTAL EXPENDITURE 495,198 22 - 495,220 491,038
----- End of picture text -----
Page 16 of 28
Notes to the accounts (cont)
Note 4 Note not in use
Note 5 Funds received as agent
The Circuit sometimes received income from churches within the Circuit asking for the money to be passed on to either the central Methodist Connextional fund for property or presbyters and deacons.
One employee at Methodist Central Hall was paid via the Circuit's payroll provider and the amount paid and received is reflected below.
----- Start of picture text -----
Balance held at
Amount received Amount paid out period end
Description/name of party Related This Prior This Prior
party? This year Prior year year year year year
£ £ £ £ £ £
Methodist Central Hall Yes 12,329 - 12,329 - - -
Methodist Connexion Yes - 350 - 350 - -
Methodist Homes Association Yes 1,453 1,188 - - 2,641 1,188
Connexional Property Fund Yes 28 28 - 278 56 28
Connexional Presbyters and Yes
Deacons Fund 10 10 - 110 20 10
World Mission Yes 895 1,961 - 2,080 1,232 337
Mpilo Hospital No - 4,330 - 6,057 - -
JMA Yes 60 60 - 60 60 -
Other No 71 - 172 20 (101) -
Total 14,846 7,927 12,501 8,955 3,909 1,563
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Note 6 Details of certain items of expenditure
| Independent examiner’s fees Fees for examination of the accounts |
This year Prior year £ £ 1,560 1,545 |
|---|---|
Page 17 of 28
Notes to the accounts (cont)
Note 7 Paid employees
Please complete this note if the charity has any employees.
Staff Costs
| Social security costs Pension costs (Layworker money purchase scheme) Total staff costs Pension costs (Ministers defined contribution scheme) Apprenticeship Levy Salaries and wages |
This year Prior year £ £ 210,103 176,318 18,649 14,655 1,144 873 34,330 30,626 3,950 1,829 268,175 224,301 |
|---|---|
No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000
Please provide the total amount paid to key management personnel (includes trustees and senior management) for their services to the charity
Marcus Torchon, Sheila Dawson, Jane Braund, Doreen KoffeeWilliams and Stephen Willey are key management personel, trustees and employees. They are paid as Ministers of churches and not for their trustee duties. The total amount paid for their Ministerial service (including stipend, allowances, employer's NI and pension) was £177,358.
| The parts of the charity in which the employees work Average head count in the year |
Ministers Ministerial lay workers Admin lay workers Other Total |
This year Prior year Number Number 7 7 2 1 1 2 - - 10 10 |
|---|---|---|
Page 18 of 28
Notes to the accounts (cont)
Note 8 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme.
Amount of contributions recognised in the SOFA as an expense £34,330 Please explain the basis for allocating the liability and expense of defined Contribution towards pension costs of the Methodist Conference, who contribution pension scheme between are the single employer. activities and between restricted and unrestricted funds.
The charity participates in a defined benefit pension plan but is unable to ascertain its share of the underlying assets and liabilities.
Please confirm that although the scheme is accounted for as a defined The Methodist Ministers' Pension Scheme is a defined benefit scheme. contribution plan, it is a defined benefit plan.
Please provide such information as is The scheme deficit is not allocated to individual Methodist Circuits. The available about the plan's surplus or Methodist Conference is responsible for the deficit (as the single deficit and the implications, if any, for employer). the reporting charity
Page 19 of 28
Notes to the accounts (cont)
Note 9 Grants and Donations
Analysis of grants and donations paid (included in cost of charitable activities)
----- Start of picture text -----
Grants to Grants to Support
Analysis institutions individuals costs Donation Total
£ £ £ £ £
Workcare Chaplain 3,600 - - - 3,600
Coventry Central Hall 38,956 - - - 38,956
Ryton Methodist Church 7,575 - - - 7,575
Ridge Lane Methodist Church 1,500 - - - 1,500
Collycroft Methodist Church 3,602 - - - 3,602
Arley Methodist Church 2,000 - - - 2,000
Birmingham Methodist District 19,992 - - - 19,992
Total 77,224 - - - 77,224
Grants and donations made to institutions
The charity has made grants to particular institutions that are material in the context of its grantmaking. Details of the
institution supported, purpose of the grant and total paid to each institution is listed below.
Total amount of
Names of institution Purpose
grants paid £
Support for the Workcare Chaplain
Workcare 3,600
programme
Coventry Central Hall Coventry City of Culture 2021 Project 35,000
Coventry Central Hall Property project 15,000
Coventry Central Hall Refund of grant made in previous year (11,044)
Ryton Methodist Church Property project 7,575
Ridge Lane Methodist Church Covid support 1,500
Collycroft Methodist Church Covid support 3,602
Arley Methodist Church 100 year' celebration project 2,000
To support the assessment for another
Birmingham Methodist District 19,992
Circuit
Total grants to institutions in reporting period 77,224
Other unanalysed grants and donations -
TOTAL GRANTS AND DONATIONS PAID 77,224
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Page 20 of 28
Notes to the accounts (cont)
Note 10 Tangible fixed assets
The Circuit owns five houses (manses) that the Ministers use:
----- Start of picture text -----
Year Insured value 2021/22 Insured value
Property purchased Cost (£) (£) 2020/21 (£)
Station Road 1994 60,000 377,411 368,208
Joanna Drive 1971 10,150 356,135 347,451
Pangfield Park 2004 274,043 355,048 346,390
Higham Lane 1982 46,452 276,998 270,244
Hatters Court 2018 262,500 288,811 281,769
TOTAL 653,145 1,654,403 1,614,062
Cost or valuation
Freehold land & Other land & Plant, machinery and Fixtures, fittings and Total
buildings buildings motor vehicles equipment
£ £ £ £ £
At the beginning of the year 653,145 - - - 653,145
Additions - - - - -
Revaluations - - - - -
Disposals - - - - -
Transfers - - - - -
Moved to current asset - - -
investment - -
At end of the year 653,145 - - - 653,145
----- End of picture text -----
10.1 Depreciation and impairments
Manses have not been depreciated or impaired.
10.2 Net book value
| Net book value at the beginning of the year Net book value at the end of the year |
Freehold land & buildings Other land & buildings Plant, machinery and motor vehicles Fixtures, fittings and equipment Total 653,145 - - - 653,145 653,145 - - - 653,145 |
|---|---|
10.3 Church Buildings
The ownership of the vast majority of Methodist Church property rests with the Trustees for Methodist Church Purposes (“the Board”) — a Trust Corporation constituted by the Methodist Church Act 1939. Each Church is a charity in its own right and as such can reflect the asset on their balance sheet.
The Circuit does not recognise Church property on its balance sheet.
If the TMCP Board permit the sale of a Church (for example due to closure), a Connexional Priority levy is deducted from all capital money arising from the sale. The amount of levy deducted is nil on the first £20,000, 20% on any excess over £20,000 up to £100,000 and 40% on any excess over £100,000.
The sale proceeds after the levy has been deducted are provided to the Circuit, and Circuit Trustees can decide on how to best use the funds.
Net sale proceeds are included in the Circuit accounts as separate item of material income, shown in note 2.
Page 21 of 28
Notes to the accounts (cont)
Note 11 Debtors and prepayments
| Analysis of debtors and prepayments Assessments due from churches, but not received Ministers payroll pre-paid Other prepayments Total debtors |
This year Last year £ £ 3,884 2,322 15,336 15,120 2,203 105 21,423 17,547 |
|---|---|
Note 12 Creditors and accruals
Analysis of creditors
Assessments received in advance Other creditors Agency funds held for others (to be paid out) |
This year Last year £ £ 28,676 28,676 1,560 16,646 3,909 1,563 34,145 46,885 Amounts falling due |
|---|---|
Page 22 of 28
Notes to the accounts (cont)
Note 13 Funding Commitments
The Circuit Meeting has agreed to some multi-year grants. The grants will only be payable if the conditions attached are met and are reviewed annually. Therefore, a liability has not been included for future grants. Details of such grants are listed below.
----- Start of picture text -----
Commitment made £ Time frame Conditions Funded by
Coventry City
up to of Culture Model Trust
Coventry Central Hall - City of Culture Project 142,500 2022/23 taking place Fund
Building
up to improvements Model Trust
Coventry Central Hall - Building Improvements 246,976 2022/23 happen Fund
Continued
up to chaplaincy Model Trust
Workcare Chaplain 3,600 2021/22 support Fund
----- End of picture text -----
Note 14 Cash at bank and in hand
| Methodist Central Finance Board (CFB) Trustees for Methodist Church Purposes (TMCP) Paypal Note 15 Financial Instruments Carrying amount of financial assets Debt instruments measurered at amortised cost Carrying amount of financial liabilities Measured at amortised cost Total HSBC Bank CAF Bank |
This year Last year £ £ 64,727 45,251 203,998 121,462 510,237 344,994 484,513 491,848 34 - 1,263,509 1,003,555 This year Last year £ £ 21,423 17,547 34,145 46,885 |
|---|---|
Page 23 of 28
Notes to the accounts (cont)
Note 16 Charity funds
Details of material funds held and movements during the CURRENT reporting period
* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; D - designated funds and U - unrestricted funds
| Fund | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Type* | Purpose and Restrictions | Fund balances b/fwd |
Income | Expenditure | Transfers | Gains and losses |
balances c/fwd |
|||||
| Fund names | £ | £ | £ | £ | £ | £ | ||||||
| General | U | General working funds of the Circuit | 232,366 | 315,961 | (318,949) | (7,929) | - | 221,449 | ||||
| Sub-total | 232,366 | 315,961 | (318,949) | (7,929) | - | 221,449 | ||||||
| A fund to help cover costs of manse | ||||||||||||
| Manse Repair Fund | D | (house) repairs. | 32,194 | - | - | 7,929 | - | 40,123 | ||||
| Circuit model trust fund, used for | ||||||||||||
| specific projects/staffing that is | ||||||||||||
| related to local mission/wider | ||||||||||||
| Circuit Model Trust | D | Methodist mission. | 682,240 | 455,737 | (175,448) | - | - | 962,528 | ||||
| Will be used to support costs | ||||||||||||
| Warner memorial | D | incurred by Local Preachers | 25,916 | 87 | (801) | - | - | 25,203 | ||||
| Circuit Model Trust | D | Fixed assets | 653,146 | - | - | - | - | 653,146 | ||||
| Sub-total | 1,393,496 | 455,824 | (176,249) | 7,929 | - | 1,681,000 | ||||||
| Weatherall | R | Bibles for Local Preachers | 1,501 | 5 | (22) | - | - | 1,484 | ||||
| Sub-total | 1,501 | 5 | **(22) ** | - | - | 1,484 | ||||||
| Total Funds | 1,627,363 | 771,790 | **(495,220) ** | - | - | 1,903,933 | ||||||
| Transfers between | funds (2020/21) | |||||||||||
| From Fund | To Fund | Amount | Reason | |||||||||
| General Fund | Manse Repair Fund | 7,929 | Top-up fund | |||||||||
Details of material funds held and movements during the PREVIOUS reporting period
* Key: PE - permanent endowment funds; EE - expendible endowment funds; R - restricted income funds, including special trusts, of the charity; and U - unrestricted funds
----- Start of picture text -----
Fund
Fund balances Gains and balances
Type Purpose and Restrictions
b/fwd Income Expenditure Transfers losses c/fwd
Fund names £ £ £ £ £ £
General U General working funds of the Circuit 238,883 275,852 (298,369) 16,000 - 232,366
Sub-total 238,883 275,852 (298,369) 16,000 - 232,366
A fund to help cover costs of manse
Manse Repair Fund D (house) repairs. 40,473 - (8,279) - - 32,194
Circuit model trust fund, used for
specific projects/staffing that is
related to local mission/wider
Circuit Model Trust D Methodist mission. 802,530 79,898 (184,188) (16,000) - 682,240
Will be used to support costs
Warner memorial D incurred by Local Preachers 25,885 231 (199) - - 25,916
Circuit Model Trust D Fixed assets 653,146 - - - - 653,146
Sub-total 1,522,034 80,128 (192,666) (16,000) - 1,393,496
Weatherall R Bibles for Local Preachers 1,492 13 (3) - - 1,501
Sub-total 1,492 13 - 3 - - 1,501
Total Funds 1,762,409 355,993 (491,038) - - 1,627,363
----- End of picture text -----*
Page 24 of 28
Notes to the accounts (cont)
Note 17 Transactions with trustees and related parties
Trustee remuneration and benefits
Some Trustees have been paid remuneration and/or received other benefits from an employment with the Circuit.
----- Start of picture text -----
Amounts paid or benefit value
This year
Legal authority (eg Remuneration Pension Redundancy Other
Name of trustee order, governing contribution (including
document) loss of
office)/ex
gratia
£ £ £ £
Marcus Torchon 28,245 6,866 - -
Governing Document
Sheila Dawson 25,693 6,866 -
Governing Document
Jane Braund 25,693 6,866 - -
Governing Document
Doreen Koffee-Williams 25,693 6,866 - -
Governing Document
Stephen Willey 25,693 6,866 - -
Governing Document
Details of why remuneration or other employment benefits Ministers of religion remuneration
were paid:
Trustees' expenses
Trustee expenses have been incurred as below
Type of expenses reimbursed This year Last year
£ £
Travel 4,201 6,641
Ministers Telephone 900 960
Other - 3,033
TOTAL 5,101 10,634
----- End of picture text -----
Please provide the number of trustees reimbursed for expenses or who had expenses paid by the charity
5 (5 last year) Trustees were re-imbursed for expenses. No Trustees were re-imbursed expenses for their Trustee role.
Page 25 of 28
Note 17 Continued
Transaction(s) with related parties
This year
| This year | ||||||||
|---|---|---|---|---|---|---|---|---|
| Name of the trustee or related party |
Relationship to charity |
Description of the transaction(s) |
Income (£) | Expenditure (£) |
Balance at period end (£) |
|||
| Trustees of both | ||||||||
| Central Hall and | Grants refunded / made | 11,044 | (50,000) | - | ||||
| Central Hall | the Circuit | |||||||
| Trustees of both | ||||||||
| Ryton Methodist | Church and the | Grants made | - | (7,575) | - | |||
| Church | Circuit | |||||||
| Trustees of both | ||||||||
| Ridge Lane Methodist | Church and the | Grants made | - | (1,500) | - | |||
| Church | Circuit | |||||||
| Trustees of both | ||||||||
| Collycroft Methodist | Church and the | Grants made | - | (3,602) | - | |||
| Church | Circuit | |||||||
| Trustees of both | ||||||||
| Arley Methodist | Church and the | Grants made | - | (2,000) | - | |||
| Church | Circuit | |||||||
| Circuit Churches (see note 2) |
Trustees of both Circuit and Churches |
Assessments for the running of the circuit and wider Methodist Church |
315,161 | - | - | |||
| Birmingham District | Trustees of both | |||||||
| District and | Assessment and levy | - | (90,978) | - | ||||
| Circuit | ||||||||
| Birmingham District | Trustees of both | |||||||
| District and | Grants made (support another Circuit) | - | (19,992) | - | ||||
| Circuit |
There was no provision for bad debts at the end of the period. No amounts were written off during the period.
Last year
| Last year | |||||||
|---|---|---|---|---|---|---|---|
| Name of the trustee or related party |
Relationship to charity |
Description of the transaction(s) |
Income (£) | Expenditure (£) |
Balance at period end (£) |
||
| Central Hall | Trustees of Circuit & Central Hall |
Recharges for use of photocopier, refreshments, postage |
- | (1,112) | - | ||
| Trustees of Circuit | Recharge of part administrator salary | 6,840 | - |
- | |||
| Central Hall | & Central Hall | ||||||
| Trustees of Circuit | Recharge of part finance officer salary | - | (3,308) | - | |||
| Central Hall | & Central Hall | ||||||
| Trustees of Circuit | Grants made | - | (50,548) | - | |||
| Central Hall | & Central Hall | ||||||
| Central Hall | Trustees of Circuit & Central Hall |
Re-imbursement for costs incurred at the MacDonald Road building |
- | (15,101) | (15,101) | ||
| Circuit Churches (see note 2) |
Trustees of Circuit & Central Hall |
Assessments for the running of the circuit and wider Methodist Church |
273,232 | - |
- | ||
| Birmingham District | Trustees of Circuit | Assessment and levy | - | (114,411) | - | ||
| & Central Hall | |||||||
| Birmingham District | Trustees of Circuit | Grants received | 4,000 | - |
- | ||
| & Central Hall | |||||||
| Paul Spencer | Director of | ||||||
| (Spencer's Interiors) | Company and | Manse carpets | - | (3,148) | - | ||
| Trustee of Circuit |
There was no provision for bad debts at the end of the period. No amounts were written off during the period.
Page 26 of 28
Independont Examinorfs report Report to th• INstws of Coventy and Nuneaton Methodist Cir{rt On a¢¢ounts for the y•ar •nd•d 31-21 Charty no: 1134347 Sot on page8 R8spe¢tlv• TgsponslbllRl•i of trustees and exam11 1to26 The charitys trustees are respMsible for preparation of the accounts. The chanty's IrLtstees consid8r that an audit is not required for this year under section 144 of the Charttss Act 2011 1.the Charities ACVI and that an independent examination rd needed. Thè Ch$ gr¢)s5 irKome exceeded £250,CKJO and l am qualified to urKlertake the examinaticm by bnll a qualffied member of ICAEW. It is my resF#)nstslty to.. 8xamine fv accounts under seelk)n 145 of fhe charit8 Ad, to fdhjw the prlU¥ laKI d(Ym In the general Direclions gbven by th• Charty Commission (under 8eclion 14515Mb) of the Charthes Act and lo state wh8th4Y particular matter8 have come to my attentlon of Ind•p•nd•nt •x•mln•rf$ sl•t¢mont fy examinatlon was carrd out in accordance with genernl Dlractlons glvan by the Charity Commission. An examination indudo$ a rev of the accounting records kept ty the charity and a rxmparison ofthe nts presented those records. It also indudes considwab.on of any unusual items or disclosu$ In the accounts, and seekin9 exanab.0nS trom the tru$tso$ concerning any such matters. The pr¢¢edu5 Lrndertaken do not Pde all the evklence thal wouhJ be requId In an audft, and o)nsequendy no opinion is given a8 to vthether the accounts psent 8 'true and fairf and the r8port is limrted lo those matters sel out in the statement below. Indendant examlnèr's sLgtement In connection with my exarnlnation. no material matters have comè to my attention (other than that disclosed below} whlch gNes me cause to believe that in. any material re8pect the a¢¢ounting rec<Kd8 were Mt kept in accordan wh seclon 130 of tr Charities Act or the accounts dhd not a(%ord Vlith tr*8 acthunling rocords., or the aCcnts dKI o)mply with the applicable requlrements concemlng tre fom and content of accounts set out in the Charltm Ikcounts and Reports) Regulations 2008 other than any requirement tl)at the ac(yJunts give a 'true and fairf view wthich is not a mattor (x)n$idor•J as part of an Independ8nt examination. I have come across no other matters in c4)nnec11 th the examination to whith attent should be drawn in this report in order to enab18 a proper understanding of the accounts to be reached. Slgned: 2813 Ig2 Nam•: Robert Anderson FCA Relevant professional qu2lffi¢ati($) or tK•Jy (tf any}: FCA Azets Audit SeCes 3Mc Middlemarch Business ParK Siskin DrNe. Baginton. Coventy, CV3 4FJ Page 27 of28
Appendix A: Trustees
Current Trustees:
Alison Lawn Andrew Pinks Beverley Taylor Bill Holdforth Brian Cartwright Christine Moore Clive Bennett Dawn Maycock Deacon Sheila Dawson Deana Mawn Denise Huxley Dora Cutter Doreen Hawthorne Dorothy Holmes Dumisani Moyo Gordon Hopkins Gordon Smith Graham Hargreaves Heather Gill Henning Kleine Irene Love Jean Marshall John Bennett John McMahon Joyce Lea Judith Mudzamiri
Karen Brooks Kath Allton Keith Aldridge Keith Drinkwater Ken Holmes Lois Talbot Lynne McKeown Marion Rixson Mary Warr Mike Hobbs Pam Knights Pam Reid Peter Dipple Ray Arnold Rev Doreen Koffie-Williams Rev Jane Braund Rev Marcus Torchon Rev Stephen Willey Richard Smith Rosemary Clemo Susan Taylor Taedza Sigauke Tony Cashmore Trevor Gay Val Gadsby Viv Kershaw
The following served as trustees during the period but are no longer trustees at the date of approving the accounts:
Adrian McAinsh David Jones John Horsler Margaret Jackson Mary Hobbs
Ninian Bowman Penelope McAinsh Robert Bennett Roger Smallman Tendai Mugodi
Page 28 of 28