2022-08-31-accounts - Huddersfield Methodist Circuit

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Total Committed reserves	65,207
Balance ofsum agreed for Parkwood	8,582
Uncommitted reserves available	947,076
Normal Expenditure
Total expenditure	726,223
Normal expenditure	726,223
Per month	69,519
No ofmonths	15.6

Huddersfield Circuit	Huddersfield Circuit	Huddersfield Circuit							Circuit No 2	7/35
Statement ofFinancial Activities			(SOFA) forthe year		ended 31August	2022
			e		'o			c
							D
			o ar oZ	c o Uo e	e o c m	U V	e m			Total 2021- 2022	Total 2020 2021
Income and Endowments	from:
Donations and legacies					10,000					10,000	10,000
Charitable activities
Assessments or share					444,170					444,170	412,091
Other					30,860					30,860	25,385
Other trading activities
- Lettings
-Miscellaneous
Investments					24,694		320	812	186	26,013	30,272
Capital receipts					3,199	501,194		1,000		505,393	3,055
Total					512,923	501,514		1,812	186	1,016,436	480,803
Expenditure on:
Stipends, saladies, NIC &.Pension		costs			345,917					345,917	365,778
District Assessment Methodist Church Fund					109,000		242			109,242	111,226
Admin, telephone &Lvavel					35,439			198	33	35,698	23,404
Insurance, utilities, etc Maintenance on manses Expenditure on other Circuit Connexional Property Fund	property Levy				20,444 32,766 5,543	126,140				20,444 32,766 5,543 126,140	25,575 10,709 25,839
Depreciation
Other Expenditure Grants and Donations					30,474		20,000			30,474 20,000	8,949 20,000
Contributions to District Advance		Fund									25,723
Total					579,582	146,410		198		726,223	617,203
Net income/(expenditure)					(66,659}	355,104		1,614	153	290,213	(136,400)
Transfers between funds			17		124,950	(111,762)		(13,087)	(101)
					58,291	243,342		(11,473)	52	290,213	(136,400)
Other recognised gains /(losses)i
Gains/(Losses) on revaluation	ofAxed assets
Gains/(Losses) on investment	assets						(203)	(1,399)	(500)	(2,102)	28,351
Actuarial gains/(losses) on defined			benefit
pension schemes
Net movement in funds					58,291	243,139		{12,872)	(448)	288,111	(108,049)
Reconciliation offunds:
Total funds brought forward					3,076,950		9,670	75,700	11,657	3,173,977	3,282,026
Total funds carried forward					3,135,241	252,809		62428	11,209	3,462,088	3,173,977

Huddersfield Grcuit													Circui	t No 2	7/35
Statement ofFinancial		Activities		(SOFA)forthe year			ended 31August	2021
					IV			24		'o	II
					o Sl o	O0 III	Sl n D	o CI	I-	nD	t W tv		Vl63o 'o n	'o c	Total 2020- 2021	Total 2019 20
Income and Endowments			from:
Donations and legacies							10,000								10,000	28,350
Charitable actjvjties
Assessments orshare							412,091								412,091	498,330
Other							25,385								25,385	9,915
Other trading activities
—Lettings
-Miscellaneous
Investments							24,497		5,014			639		122	30,272	31,119
Capital receipts							3,055								3,055	52,467
Total							475,028		5,014			639		122	480,803	620,181
Expenditure on:
Stipends, salaries, NIC &		Pensjon		costs	10		365,778								365,778	362,587
DistiIct Assessment							111,226								111,226	110,248
Iylethodist Church Fund
Admin, telephone &travel							22,337			919		127		21	23,404	28,430
Insurance, utiliues, etc							25,575								25,575	26,478
Maintenance on menses							10,709								10,709	21,428
Expenditure on other Circuit property							25,839								25,839	30,488
Connexional Property Fund			Levy													9,286
Depreciation
Other Expenditure							8,949								8,949	14,413
Grants and Donations									20,000						20,000	15,000
Contributions to District	Advance			Fund					25,723						25,723	19,163
Total							570,413		46,642					21	617,203	637,521
Net income/[expenditure)							(95,385)	(41,628)				512		101	{136,400)	(17,340)
Transfers between funds					17		430,451	(430,451)
							335,066	(472,079)				512		101	(136,400)	(17,340)
Other recognised gains	/	(losses)I
Gains/(Losses) on revaluation			offixed assets
Gains/(Losses) on investment			assets						22,716		4,627		1,008		28,351	(3,629)
Actuarial gains/(losses)	on defined			benefit
pension schemes
Net movement in funds							335,066	(449,363}			5,139		1,109		(108,049)	(20,969)
Reconciliation offunds:
Total funds brought forward							2,741,884	459,033			70,561		10,548		3,282,026	3,302,995
Total funds carried forward							3,076,950		9,670		75,700		11,657		3,173,977	3,282,026

						Balance Sheet as at31August 2022	Balance Sheet as at31August 2022	Balance Sheet as at31August 2022
						Unrestricted	Circuit Iyiodel	Restricted	Endowment	Totals this	Totals last year
							Trust Fund		Funds	year
							(Unrestricted)
							f
Tangible Fixed Assets*
					Notes
Greeit manses						2,194,892				2,194,892	2,194,892
Equipment
investment properties investments					12	200,000		20,054	6,659	200,000 26,713	200,000 46,465
Total		fixed assets				2,394,892		20,054	6,659	2,421,605	2,441,357
Current Assets
Debtors and Prepayments					13	71,319				71,319	42,196
Other
Trustees for Methodist			Church
Purposes deposits Central Finance Board Deposits Cash at Bank and in hand						324,301 443,754	252,810	36,762 6,013	4,549	294,121 330,314 443,754	44,617 433,031 312,868
Total current assets						839,374	252,810	rk2„775	4,549	1,139,508	832,712
r r or na ecru			uem
under 1yr)					14	99,025				99,025	1,00,092
Net current assets	(liabilities)					740,349	252,810	42,775	4,549	1,040,483	732,620
ota assets esscurrent
liabilities						3,135,241	252,810	62,829	11,208	3,462,088	3,173,977
Loans and creditors	due after			1
year					14,16
Provisions for	liabilities			and
charges					14,16
		Net assets				3,135,241	252,810	62,829	11,208	3,462,088	3,173,977
Funds ofthe Circuit
Linrestricted funds Circuit Model Trust	Fund					3,135,241				3,135,241	3,076,950
(Unrestricted) Restricted funds							252,810	62,829		252,810 62,829	9,670 75,700
Endowment funds	Total Funds					3,135,241	252,810	62,829	11,208 11,208	11,208 3,462,088	11,657 3,173,977
vDetails -see Note	11
Summary ofthe internal		Organisations			reporting to	the Circuit Meeting.	Note that the funds ofan Internal Organisation			would normally	be Restricted
						Opening	Receipts	Payments	Net Receipts/	Adjustments	Closing balances
Internal Organisations						balance			Payments
Circuit Youth Group						(13,416)		2,468	(2,468)		(15,884)

Huddersfiel	d Cir	c03	t									C	ircuit No 27/	35
								Balance Sheet		as at31August 2021
								Unrestricted	Circuit Madel		Restricted	Endowment		Totals this		Totals last year
									Trust Fund				Funds	year
									{Unrestricted)
										E
Tangible Fixed Assets*
							Nates
Circuit manses								2,194,892						2,194,892		2 194892
Equipment
Investment	properties							200,000							200,000	200,000
investments							12			9,475	29,830		7,160		46,465	202,991
	Total		fixed		assets			2,394,892		9,475	29,830		7,160	2,441,357		2,597,883
Current Assets
Debtors and	Prepayments							42,196							42,196	38,507
Other
Trustees for Methodist				Church
Purposes deposits										195	39,925		4,497		44,617	331,850
Central Finance Board Deposits								427,086			5,945				433,031	182,784
Cash at Bank and		in hand						312,868							312,868	241,872
	Total	current			assets			782,150		195	45,870		4,497		832,712	795,013
re & orsan	cern		s	uem
under 1yf)							14	100.092							100,092	110,870
Net current	assets	{liabilities)						682,058		195	45,870		4,497		732,620	684,143
ota assets	ess current
liabilities								3,076,950		9,670	75,700		11,657	3,173,977		3,282,026
Loans and creditors		due after				1
year							14,16
Provisions	for	liabiiities				and
charges							14,16
			Net		assets			3,076,950		9,670	75,700		11,657	3,173,977		3,282,026
Funds ofthe	Circuit
Unrestricted	funds							3,076,950						3,076,950		2,741,884
Circuit Model Trust		Fund
(Unrestricted)										9,670					9,670	459,033
Restricted funds											75,700				75,700	70,561
Endowment	funds												11,657		11,657	10,548
			Total		Funds			3,076,950		9,670	75,700		11,657	3,173,977		3,282,026
*Details —see Note		11
Summary ofthe Internal			Organisations				reporting to the Circuit Meeting. Note that the funds ofan Internal						Organisation	would	normally	be Restricted
								Opening	Receipts		Payments	Net Receipts/		Adjustments		Closing balances
Internal Organisations								balance					Payments
Circuit Youth Group								(12,994)			422		(422)			(13,416)

				2022	2021
Statement ofcash flows
Cash from operating activities
Net cash used in operating activities				234,010	{181,139)
Cash flows from investing activities
Dividends, interest and rents from investments Proceeds from the sale of property, p)ant and equipment				26,013 0	30,272 0
Purchase ofproperty, plant and equipment				0	0
Purchase ofintangible assets				0	0
Proceeds from the sale of investments				18,650	184,877
Purchase ofinvestments				(1,000)	0
Other				0	0
Net cash provided by investing activities				43,663	215,149
Cash flows from financing activities
New borrowing
Repayments of borrowing
Net cash used in Hmancing activities
Change in cash and cash equivalents in the reporting		period		277,673	34,010
Cash and cash equivalents at the beginning	ofthe reporting	period		790,516	756,506
Cash and cash equivalents at the end of	the reporting	period		1,068,189	790,516
				2022	2021
Reconciliation ofnet income to net cash	flow from operating		activities	6
Net income for the reporting period (as per statement offinancial activities) Adjustments for:				288,111	(108,049)
Depreciation and amortisation charges				0	0
Profit on the sale offixed assets				0	0
Loss on the sale offixed assets				0	0
(Gains)/losses on investments				2,102	{28,351)
Dividends, interest and rents from investments Decrease/(increase} in stocks				(26,013) 0	(30,272) 0
(Increase)/decrease in debtors Increase/(decrease) in creditors				(29,123) (1,067)	(3,689) (10,778)
Net cash used in operating activities				234,010	(181,139)
				2022	2021
Analysis ofcash and cash equivalent				f.	6
Cash in hand				443,754	312,868
Short term deposit (less than 3 months) Total cash and cash equivalents				624,435 1,068,189	477,648 790,516

Accounting Standard
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement ofRecommended Practice (SORp) applicable tocharities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ofIreland (FRS102) (effective from 1January 2015)- (Charties SORP (FRS102)).
Public benefit entity
The Huddersfied Methodist Circuit meets the definition ofa public benefit entity under FRS102.Assets and liabilities are initaliy recognised at historical
cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below
2 Funds
The funds held constitute: General Funds held for any purpose ofthe Circuit which are Unrestricted. The Circuit Model Trust Fund has wide purposes dehned in Standing Orders and is categorised as unrestricted. Restricted funds are those which are held for a narrower purpose. There are also the
following Endowment funds as listed. Details ofeach material fund are disclosed in the final note tothese accounts. Any funds may be represented more than just cash.	by
3Accounting policies
Basis
These accounts have been prepared on the basis ofhistorical cost except that investments are shown at their market value at the end ofthe year.The accruals basis has been used and trustees present accounts that show a true and fair view ofthe Oircuit's financial position and activities.
Content
The accounts are expressed in ESterling, rounded to the nearest pound and both current and comparative periods cover 12months.
FRS102SORP2015
These accounts are compliant with FR5102and with FR5102SOBP2015.The accounts have been prepared in accordance with applicable charity law in
England, this being the Charities Act 2011,the Charities SORP (FRS102)and other relevant regulations.
Going concern
Based oiithe monetary assets and resources available at 31August 2022, the trustees believe that the Circuit is a going concern. The trustees have
considered the impact ofthe Covid 19pandemic on the charity. Whist acknowledging that its operations will continue to be affected in the year ending 31August 2023,the trustees believe they have put suitable measures in place to ensure that the charity wiig continue to operate and develop its activities
going forward. The trustees therefore believe that the preparation ofthe report and accounts on the going concern basis is appropriate.
Consolidation
The Circuit has denominational regulatory oversight in respect ofthe work ofthe 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 rinanciial statements ofChurches within the Circuit are
not consolidated into these financial statements.
Income Recognition
income isbrought into account when the Circuit becomes entitled tothe resources, the trustees are reasonably certain they will receive the resources
and the monetary value can be measured with reliability, In accordance with the Chadities SORP (FR5102),the monetary value ofthe time ofvolunteers		is
not recoenised,
Expenditure
This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. liabilities are recognised as soon as an outflow ofeconomic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out
resources.
Grants
Grants made by the Circuit from its own funds are recognised in full atthe time ofagreement or when the Circuit accepts that there is a legal or
operational obligation to make the payment. When the grant is recurrent over more than one year the balance payable in future years istreated as a
provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the orieinaliv screed terms.
VAT
Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.
Taxation
As a registered charity the orcuit isexempt from direct taxation on surpluses arising from its principal activities and associated income.

Huddersfield Ci	rcuit	rcuit					C	ircuit No 27	/35
4.Donations and	legacies		Unrestricted		Circuit Model Trust Fund		Restricted	2022 Total	2021 Total
					f			f	f
Donations				10,000				10,000	10,000
i.egacies
Total				10,000				10,000	10,000
5.Charitable activities- other			Unrestricted		Circuit Model Trust Fund		Restricted	2022 Total	2021 Total
					f		f	f	f
Lettings Catherine	Close			13,200				13,200	13,240
Lettings Town End		Avenue		1,100				1,100	12,000
Lettings Scar Lane				7,070				7,070
Lettings Datmouth		Avenue		8,10Q				8,100
Rental Gatehead	Church			1,170				1,170
Circuit Youth Group
Charitable activities		—Other		220				220	145
Total				30,860				30,860	25,385
6.Other trading activities			Unrestricted		Circuit Model Trust Fund		Restricted	2022 I Total	2021 Total
					f			f	f
Lettings (Property	name)
Miscellaneous
Total
7.Investment income			Unrestricted f		Circuit Nlodel Trust Fund f		Restricted f	2022 Total	2Q21 Total f
Central Finance Board				1,694				1,694	1,497
TMCP						179	998	1,178	4,132
Realised gains on	investments					141		141	1,643
Lettings Wellhouse		School		23,000				23,000	23 000
Total				24,694		320	998	26,013	30,272

Huddersfield Circuit 8.Payment to Trustees							Circ	uit No 27/35
								This year	Last year
Payments made to trustees for additional			services provided to the Circuit by agreement			with
the Circuit Meeting							6	Nil	Nil
Number oftrustees who were paid		expenses						Nil	Nil
Nature ofthe expenses
Total amount paid
9.Feesfor examination or audit ofthe		accounts							Nil
Independent examiner's or auditors'		fees	for reporting	on the accounts
Other fees (eg: advice, accountancy		services) paid to the		independent	examiner or auditor		f f	2,400	2,400
								Nil	Nil
10.Paid employees
Staff Costs paid during the year were:
Gross wages, salaries and benefits	in	kind
Employer's National Insurance costs								264,217	276,166
Pension costs								21,692	23,856
Apprentice Levy								58,541	64,312
Total staff costs								1,467	1,444
								345,917	365,778
Average number ofstaff employed		during	the year were:

264,217	276,166
21,692	23,856
58,541	64,312
1,467	1,444
345,917	365,778
13.0	13.0

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				This year	prev year
investments listed on a recognised Stock Exchange
Investments held in common	investment	funds,		26,713	46,465
Securities not listed on a recognised Stock Exchange
Other investments
			Total	26,713	46,465
Change in investment values
Carrying (market) value at beginning ofyear				46,465	202,911
Add: additions to investments	at cost			1,000
Less: disposals at carrying value				22,854	184,797
Net gainj((oss) on revaluation				2,102	28,351
Carrying (market) value at end	ofyear			26,713	46,465

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