|ONTENTS||||Pages|
|---|---|---|---|---|
|Trustees'|Report|||2-10|
|Trustees|and Administrative||Details|11-13|
|Independent
Examiner's||Report||14-16|
|Financial|Accounts
and|Notes||17-33|
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|||||Circuit|||||
|---|---|---|---|---|---|---|---|---|
|||Notes|General|Model
Trust|Design'd||||
|||to the|Fund|Fund|Funds|Restrict|Endowme|Total|
|||acc'ts|Unrest'd|Unrest'd|Unrest'd|ed Fund|nt Funds|2022-23|
|Income|||||||||
|Income from monetary|||||||||
|investments|||5,006|5,488|||730|11,224|
|Income from investment|||||||||
|ro erties|||20,447|||||20,447|
|Assessments
on|Churches||175,658|||||175,658|
|Grants received|||4,327|||||4,327|
|Other charitable|income||2,245|||8,126||10,371|
|Total income|||207,683|5,488|0|8,126|730|222,027|
|Ex enditure|||||||||
|Grants and donations||||||1,620||1,620|
|Salaries and associated costs||10|133,858|||782||134,640|
|Property
maintenance
Et other|||||||||
|costs||12|43,564|||||43,564|
|District Assessment
Et Le||13|44,232|6,316||||50,548|
|Office ex enses|Et resources|14|3,770|||991||4,761|
|Other out oin s||15|1,820|502||95|70|2,487|
|Total charitable|ex enditure||227,244|6,818|0|3,488|70|237,620|
|Gains/(losses)
on monetary|||||||||
|investments||18||-334|||-1,051|-1,385|
|Net income/
ex|enditure||-19,561|-1,664|0|4,638|-391|-16,978|
|Transfers
between
funds|||4,140|-8,480|5,000||-660||
|Other
ains|||||||||
|Net movement|in funds||-15,421|-10,144|5,000|4,638|-1,051|-16,978|
|Total funds brou|ht forward||1,629,116|176,316|103,000|6,315|24,758|1,939,505|
|Total funds carried forward|||1,613,695|166,172|108,000|10,953|23,707|1,922,527|
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||Notes|General|Circuit Model|Design'd||||||
|---|---|---|---|---|---|---|---|---|---|
||to the|Fund|Trust Fund|Funds|Restricted||Endowment||Total|
||acc'ts|Unrest'd|Unrestricted|Unrest'd|Fund||Funds||2021-22|
|Income||||||||||
|Income from monetary||||||||||
|investments||137|1,204|||||641|1,982|
|Income from investment||||||||||
|ro erties||15,477|||||||15,477|
|Assessments
on Churches||184,446|||||||184,446|
|Grants received|||||9,500||||9,500|
|Other charitable
income||2,254|||||||2,254|
|Total income||202,314|1.204||9,500|||641|213,659|
|Ex enditure||||||||||
|Grants
and donations||||||||||
|Salaries and associated costs|10|126,582|||12,176||||138,758|
|Property
maintenance
Et other||||||||||
|costs|12|29,063|||||||29,063|
|District Assessment
Et Le|13|44,492|113,517||||||158,009|
|Office ex enses
Et resources|14|4,491||||434|||4,925|
|Other out oin s|15|1,058|151|||||75|1,284|
|Total charitableex
enditure||205,686|113,668|0|12,610|||75|332,039|
|Gains/(losses)
on monetary||||||||||
|investments|18||528)||||(1,660)||2,188)|
|Capitalisation
of property||||||||||
|im
rovement|17|||||||||
|Net income/
ex enditure||3,372|112,992||3,110||1,094||120,568|
|Transfers
between
funds||566|(103,000)|103,000|||(566)|||
|Other
ains|16||339,304||||||339,304|
|Net movement
in funds||2,806|123,312|103,000|3,110||1,660||218,736|
|Total funds brou
ht forward||1,631,922|53,004||9,425||26,418||1,720,769|
|Total funds carried forward||1,629,116|176,316|103,000|6,315||24,758||1,939,505|
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||||General|Circuit|Design'd|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||Fund|Model Trust|Funds|Rest'd||Endow||||
|||Notes|Unrest'd|Unrest'd|unrest'd|Fund||Funds||Total 2023|Total 2022|
|Fixed Assets||||||||||||
|Circuit Manses||17|1,250,000|||||||1,250,000|1,250,000|
|Investment
Properties||17|282,250|||||||282,250|282,250|
|Total Fixed|Assets||1&532,250||||0||0|1,532,250|1,532,250|
|Current Assets||||||||||||
|Investments
with TMCP||18||166,172||||23,707||189,879|201,075|
|Debtors
Et Prepayments||19|10,159|||||||10,159|12,964|
|Cash at Bank||20|74,406||108,000|10,953||||193,359|194,967|
|Total Current|Assets||84,565|166,172|108,000|10,953||23,707||393,397|409,006|
|Current
Liabilities||||||||||||
|Creditors
(due in under|1|||||||||||
|year)||21|3,120|||||||3,120|1,750|
|Total Current
Liabilities|||3,120||||0||0|3,120|1,750|
|Net Current|Assets||81,445|166,172|108,000|10,953||23,707||390,277|407,256|
|Total assets less current||||||||||||
|liabilities|||1,613,695|166,172|108,000|10,953||23,707||1,922,525|1,939,506|
|Long term liabilities
(due||||||||||||
|after more than
1 year)|||||||0||0|||
|Net assets|||1,613,695|166,172|108,000|10,953||23,707||1,922,525|1,939,506|
|Funds ofthe Circuit||||||||||||
|General
Fund (Unrestricted)||22-24|1,613,695|||||||1,613,695|1,629,117|
|General
Fund (Allocated)||22-24|||108,000|||||108,000|103,000|
|CMTF (Unrestricted)||22-24||166,172||||||166,172|176,316|
|Total Unrestricted
Funds|||1,613,695|166,172|108,000||0||0|1,887,867|1,908,433|
|Restricted
Funds||22-24||||10,953||||10,953|6,315|
|Endowment
Funds||22-24||||||23,707||23,707|24,758|
|Total Funds|||1,613,695|166,172|108,000|10,953||23,707||1,922,527|1,939,506|
|The notes on pages 20|to 33form part ofthese accounts|||||||||||
|Approved
by the trustees of The Methodist
Church-Chelmsford|||||Circuit|and|signed||on|their behalf.||
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|CFB:|Central|Central|Finance Board of the Methodist
Church
manages
a Common
Deposit|Finance Board of the Methodist
Church
manages
a Common
Deposit|Finance Board of the Methodist
Church
manages
a Common
Deposit|Finance Board of the Methodist
Church
manages
a Common
Deposit|Finance Board of the Methodist
Church
manages
a Common
Deposit|Fund|and a series|and a series|and a series|and a series|of|of|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|pooled|investment|||funds for the Methodist
Church
in Great Britain and provides|||investment||||advice to||||
|those entities.|||||||||||||||
|Church:|||a group of members
relating to a specific Church||||||||||||
|Circuit:||||a group of Methodist
Churches
near each other, and overseen jointly|||||||||||
|Circuit|Meeting:|||The trustees of the Circuit, most of whom are appointed||by|their local Churches||||||and||
|||||the others
by virtue of a role they undertake
for the Circuit|||and/or||their local||||||
|||||Churches.|||||||||||
|CLT (Circuit||Leadership
Team):
A group
(comprising
mostly,
but not exclusively)||||||of Circuit trustees|||||||
|||||responsible
for the day-to-day
administration
and policy|formulation||||of the Circuit.||||||
|||||Generally,
the CLT comprises the Presbyters
(Ministers)|and||lay|staff stationed||||within|||
|||||the Circuit, the Circuit Stewards
and the Circuit Treasurer|||||||||||
|CMTF:||||Circuit Model Trust Fund|||||||||||
|Connexion||||The Methodist
Church
in Great Britain which includes the||Head||Office|||at Methodist||||
|||||Church
House, all Methodist
Districts,
Circuits and Churches|||in|Great Britain.|||||||
|Connexional|||Funds: The designated
and/or
Restricted
Funds held and administered|||||by|the Connexion|||||in|
|||||furtherance
of its charitable
and mission objectives.|||||||||||
|CPF:||||Connexional
Priority
Fund|||||||||||
|District:||||a group of contiguous
Circuits
linked geographically.|||||||||||
|DAF:||||District Advance
Fund|||||||||||
|FRS:||||Financial
reporting
Standard|||||||||||
|HMRC:||||Her Majesty's
Revenue
and Customs|||||||||||
|Lay Employees:||||Personnel
employed
by the Circuit on generally
accepted||commercial|||||employment||||
|||||terms.|||||||||||
|MMPS:||||Methodist
Ministers'
Pension Scheme|||||||||||
|NEST:||||Pensions
and Assurance
Scheme for Lay Employees of the||Chelmsford||||Methodist|||||
|||||Church|||||||||||
|Presbyters||(including
Superintendent):
Probationer
or Ordained
Methodist||||Ministers|||who have pastoral||||||
|||||and administrative
responsibility
for the Churches
within||the Circuit|||||||||
|SOFA:||||Statement
of Financial Activities|||||||||||
|SORP:||||Statement
of Recommended
Practice|||||||||||
|TMCP:||||Trustees for Methodist
Church
Purposes,
the legal owner||and|Custodian||||Trustee|of||all|
|||||Methodist
Model Trust property,
including
Legacies, Endowments
and||||||Accumulated|||||
|||||Funds|||||||||||
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|Note 6 Assessment|Note 6 Assessment|or share|or share||General
Fund|General|Fund|
|---|---|---|---|---|---|---|---|
|(continued)|||||(unrestricted)|(unrestricted)||
||||||2022/23|2021/22||
|Broomfield|||||18,161||18,664|
|Christ Church,|Braintree||(LEP)||7,200||7,200|
|Christ Church,|Coggeshall||(LEP)||962||800|
|The Church at|Great|Notley||(LEP)|1,477||1,440|
|Hall Street, Chelmsford|||||6,000||4,800|
|Halstead|||||8,000||5,500|
|Hatfield
Peverel|||||7,488||3,268|
|Maldon|||||20,522||17,397|
|Moulsham
Lodge|||||21,500||34,054|
|South Woodham
Ferrers|||||14,133||11,875|
|St Augustine,|Springfield||(LEP)||3,000||2,796|
|Trinity,
Chelmsford|||||53,004||63,582|
|Witham|||||14,211||13,070|
|Total|||||175,658|184,446||
##
##
|ote 8
Other char|itable
inco|me||||
|---|---|---|---|---|---|
|||General|Fund|Restricted||
|||(unrestricted||Fund|Total|
|||2022/23||2022/23|2022/23|
|Solar energy rebate|||2,193||2,193|
|Refugee fund||||8,126|8,126|
|Donations|||52||52|
|Total other charitable|income||2,245|8,126|10,371|
|||General|Fund|Restricted||
|||(unrestricted||Fund|Total|
|||2021/22||2021/22|2021/22|
|Solar energy rebate|||2,084||2,084|
|Refugee fund||||||
|Donation|||20||20|
|HSBC Compensation|||150||150|
|Total other charitable|income||2,254||2,254|
##
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|ote 10
Stipends,
sa|laries and|associate|d costs|||
|---|---|---|---|---|---|
|||General|Fund|Restricted||
|||(unrestricted||Fund|Total|
|||2022/23||2022/23|2022/23|
|Stipends 6salaries||||||
|Stipends-Ministers|||84,005||84,005|
|Salaries -Lay worker
Et admin|||10,396|779|11,175|
|Employers'
pensioncontributions|||21,731||21,731|
|Employers'
N
I contributions|||8,022||8,025|
|Apprenticeship
levy|||467||467|
|Supernumerary
fees|||800||800|
|Professional
fees-admin|contract||5,400||5,400|
|Total stipends
& salaries costs||130,821||782|131,603|
|Associated costs||||||
|Ministers'
travel|||2, 386||2,386|
|Lay employees'
travel|||171||171|
|Payroll fees|||480||480|
|Total associated costs|||3,037||3,037|
|Total stipends,
salaries
associated costs|Et|133,858||782|134,640|
|||General|Fund|Restricted||
|||(unrestricted||Fund|Total|
|||2021/22||2021/22|2021/22|
|Stipends
Et salaries||||||
|Stipends-Ministers|||80,568|0|80,568|
|Salaries -Lay worker
Et admin|||7,514|11,407|18,921|
|Employers'
pensioncontributions|||20,840|0|20,840|
|Employers'
N
I contributions|||7,642|457|8,099|
|Apprenticeship
levy|||532|0|532|
|Supernumerary
fees|||1,150|0|1,150|
|Professional
fees-admin|contract||5,400|0|5,400|
|Total stipends 8 salaries costs||123,646||11,864|135,510|
|Associated costs||||||
|Ministers'
travel|||2,286|0|2,286|
|Lay employees'
travel|||170|312|482|
|Payroll fees|||480|0|480|
|Total associated costs|||2,936|312|3,248|
|Total stipends,
salaries|Et|||||
|associated costs||126,582||12,176|138,758|
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|ote 12
Property ex|penses|||||
|---|---|---|---|---|---|
|||General|Fund|General|Fund|
|||(unrestricted)||(unrestricted)||
|Property costs-manses||2022/23||2021/22||
|Insurance|||1,066||2,564|
|Manse Council tax Et water|||9,539||8,635|
|Maintenance-manses|||23,403||5,668|
|Quinquennial
inspection|fee4 (1|||||
|in 2021/22)|||2,795||650|
|Property costs-let properties||||||
|Maintenance-let
properties|||2,754||7,886|
|Agents'
fees|||4,007||3,010|
|Quinquennial
inspection|fee||||650|
|Total property
costs||43,564|||29,063|
##
||||||General|General|
|---|---|---|---|---|---|---|
||||||Fund-|Fund-|
||||||unrestricted|unrestricted|
||||||2022/23|2021/22|
|District Assessment|||||44,232|44,492|
||||||CMTF Fund-|CMTF Fund-|
||||||unrestricted|unrestricted|
||||||2022/23|2021/22|
|District Advance||Fund|Levy||6,316|1,325|
|Connexional|Priority||Fund|Levy||112,192|
|Total Levies|||||6,316|113,517|
##
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|Note 14|||Office|Office|expenses|expenses|and|resources|resources||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||General||Fund|Restricted|||
||||||||||(unrestricted)|||Fund|Total||
|||||||||||2022/23||2022/23||2022/23|
|Telephone||Et internet|||||||||2,116|||2,116|
|Printing,|postage|||&||stationery|||||1,151|||1,151|
|IT Et video||equipment||||costs|||||210|||210|
|Use of office|||||||||||||||
|Preaching||Et|sundry|||resources|||||293|991||1,284|
|Total|||||||||||3,770|991||4,761|
||||||||||General||Fund|Restricted|||
||||||||||(unrestricted)|||Fund|Total||
|||||||||||2021/22||2021/22||2021/22|
|Telephone||Ej:internet|||||||||2,060|||2,060|
|Printing,|postage|||Et|stationery||||||1,399|||1,399|
|ITcosts|||||||||||191|||191|
|Use of office|||||||||||500|||500|
|Preaching||Et|sundry||resources||||||341|434||775|
|Total|||||||||||4,491|434||4,925|
|Note 15|||Other||outgoings||||||||||
|||||||General|Fund||CMTF Fund|Restricted||Endowment|Total|Total|
|||||||unrestricted|||unrestricted|||Fund|||
|||||||2022/23|||2022/23|2022/23||2022/23|2022/23|2021/22|
|Bank Char||es||||||60|||||60|63|
|Just Giving|||||||||||||||
|Char e|||||||||||95||95|245|
|Trainin|||||||960||||||960||
|Independent|||||||||||||||
|examiner's||fee|||||800||||||800|750|
|TCMP admin.|||fee||||||502|||70|572|226|
|Total|||||||1,820||502||95|70|2,487|1,284|
##
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|Note 17|Fix|ed Assets|-Manses|and Other|Properties|||||
|---|---|---|---|---|---|---|---|---|---|
|||||Manse|Manse|Investment||||
|||||Land|buildings|property||Total|Total|
|||||2022/23|2022/23|2022/23||2022/23
2021/22||
|Balance brought||forward||510,000|740,000|282,250||1,532,250 1,532,250||
|Revaluation|of|investment||||||||
|property||||||||||
|Disposals||||||||||
|Balance carried||forward||510,000|740,000|282,|250|1,532,250 1,532,250||
|Schedule of|Manses and Investment|||Property||||||
|Property|||||Type|Cost|Valuation|Total||
|30 Park Ave|Chelmsford||||Manse|425,000||425,000||
|4 Rubens Gate Springfield|||Chelmsford||Manse|475,000||475,000||
|11 Mirosa Drive Maldon|||||Manse|350,000||350,000||
|10Wickfield|Ash|Chelmsford|||Investment||282,250|282,250||
|Total||||||1,250,000|282,250|1,532,250||
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|Year end valuation|Year end valuation||||2022/23|2022/23||2022/23|2022/23|2021/22
2021/22|2021/22
2021/22|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||CMTF||fund|Endowment|fund|CMTF fund
Endowment||fund|
|Common|investment
funds|||||7,542||23,707||7,876|24,758|
|Trustees'|Interest
Fund||||158,630|||||168,440||
|Total|||||166,172|||23,707||176,316|24,758|
|Note 18|Monetary|Investment|||Assets (continued)|||||||
|||||||||||Endowment||
|Change in investment||values||||||CMTF fund||fund||
|Investments
held in common|||investment|||funds||||||
||||||||||2022/23|2022/23||
|Carrying|(market)
value|at beginning|||of|year|||7,876|24,758||
|Net loss on revaluation|||||||||-334|-1,051||
|Carrying|(market) value|at end||of year|||||7,542|23,707||
##
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|Note 19
Debto|rs and|prepayme|nts||||||
|---|---|---|---|---|---|---|---|---|
|||||General
Fund||General||Fund|
|||||(unrestricted)||(unrestricted)|||
||||||2022/23||2021/22||
|Debtors|||||||||
|Assessments
due|||||500|||2,000|
|Solar panel FIT payment||due|||836|||827|
|Prepayments|||||||||
|Ministers'
stipends|in advance||||6,876|||9,472|
|Manse insurance|||||1,493||||
|Council Tax|||||210|||665|
|Letting agents'fees|||||244||||
|Total debtors 8 prepayments|||||10,159|||12,964|
|Note 20
Bank|Et Cash|Balances|||||||
|||General|Fund|Designated|Restricted|Total||Total|
|||(unrestricted)||Fund|Fund||||
|||2022/23||2022/23|2022/23|2022/23|2021/22||
|Central Finance|Board||63,021|108,000|10,953|181,974||115,240|
|Cash at|bank||11,383|||11,383||79,727|
||Total|74,404||108,000|10,953|193,357|194,967||
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