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2021-08-31-accounts

BERKSHIRE SURREY BORDERS METHODIST CIRCUIT:

ANNUAL REPORT AND FINANCIAL STATEMENTS:

YEAR ENDING 31 AUGUST 2021

REGISTERED CHARITY NO. 1134496

BERKSHIRE SURREY BORDERS METHODIST CIRCUIT: CONTENTS OF THE FINANCIAL STATEMENTS

Page No.
Trust Information 1-2
Trustees’ Report 3-5
Declarations 6
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10-15

BERKSHIRE SURREY BORDERS METHODIST CIRCUIT: LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1134496

START OF FINANCIAL YEAR

END OF FINANCIAL YEAR

1 September 2020 31 August 2021

Mrs Jenny Balcombe Mrs Jane Bonney Rev Catherine Bowstead (Chair) Mr Michael Bush Mr Bob Clark Mr Lee Elms Mrs Mary Elms (to 31 December 2020) Mr Graham Fradgley Mr Mike Gardner Rev Sharon Gardner Dr Brian Gennery Mrs Hazel Gennery Mrs Mary Glauert Mrs Karen Glossop Mr Robert Godden Mrs Liz Goddard Mr Sam Hanna Mrs Wendy Hart Mr Don Hewitt Mr John Hoskins Mr Ian Hamilton (from 7 December 2020) Mr Bob Jarvis Mrs Judith Jones

Mrs Claire Knight Mrs Gillian Lowson Ms Pauline Matondo Mr Andrew Mitchell Mrs Marjorie Mitchell Mrs Christine Morgan Mr David Morgan Dr Rosi Morgan-Barry Mr Andrew Mower Mrs Doreen Murgatroyd Mrs Lynne Paine (from 16 October 2020) Mrs C Rooke-Matthews Rev Soba Sinnathamby Rev Roy Smith (to 17 July 2020) Mrs Kate Souter Mr Malcolm Souter Mr Ben Spain Mrs Kim Tame Rev Mike Thomason Ms Sharon Wright Mrs Julie Young

GOVERNING INSTRUMENT

Deed of Union (1932) and the Methodist Church Act (1976)

OBJECTIVES

The purposes of the Methodist Church are and shall be deemed to have been since the date of union the advancement of

1

BERKSHIRE SURREY BORDERS METHODIST CIRCUIT: LEGAL AND ADMINISTRATIVE INFORMATION

PRINCIPAL ADDRESS The Methodist Centre Rose Street Wokingham RG40 1XS

PRIMARY BANKERS HSBC Wokingham Branch 1-2 Market Place Wokingham RG40 1AL Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE The Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ INDEPENDENT EXAMINER Alison Elliott ACA, FCCA Butt Miller Limited 92 Park Street Camberley Surrey GU15 3NY

2

BERKSHIRE SURREY BORDERS METHODIST CIRCUIT

TRUSTEES REPORT FOR THE YEAR ENDED 31 AUGUST 2021

Structure, governance and management:

Trustee selection method:

Achievements and Performance

In normal times, the eight churches within the Berkshire Surrey Borders Circuit work together to provide a minimum of 42 public Sunday services each month at a variety of times of which at least a quarter include Holy Communion. Worship styles cater for a variety of preferred styles, ages and tastes: traditional, contemporary, liturgical, family-friendly, Inter-generational and “Messy church”. In addition, several churches offer a range of mid-week services, prayer groups, Bible study and fellowship groups.

With Covid having limited the use of our church buildings for several periods since March 2020, our churches have adapted to providing worship on-line. Over the past year our churches have offered worship using the “Zoom” platform or by using audio and video recordings available on church websites.

Ministers within the Circuit have continued to conduct funerals, and some weddings and baptisms as restrictions have allowed. These are available for church members and upon request for members of the public.

Church members whose roles require a DBS check are required to keep these up to date, prompted by their church safeguarding co-ordinator and the Circuit co-ordinator. The Circuit provides Safeguarding training for those taking on new roles and refresher courses when required. All those in leadership roles have completed both the “Foundation” and “Leadership” modules of safeguarding training as required by the Methodist Church. The Circuit was used as a pilot project for the new on-line version of the Foundation module.

Opportunities for training in many areas of church life (eg. safeguarding, local preaching, worship leading, stewarding) are provided within the Circuit or in co-operation with neighbouring Circuits. The Circuit and its personnel actively support the vocational development of its people and two people are training as Local Preachers.

Ecumenical co-operation and partnership is a feature of Circuit and church life (three of our churches are Local Ecumenical Partnerships). Churches are encouraged to participate in ecumenical events. They also participate in ecumenical community initiatives (eg. Food Banks, Winter Night Shelter for Rough Sleepers in Bracknell and Wokingham, an afterschool drop-in centre in Crowthorne) some of which have been supported by a grant from Circuit funds.

3

The Circuit continues to support and encourage the involvement of local churches in planning for and carrying out ecumenical Christian outreach to those moving into various large new housing developments in the area.

Churches are encouraged to view their buildings as a community facility, and several are well used by groups and individuals from the surrounding community. Advice and support in keeping buildings well maintained is provided by the Circuit and the Methodist District.

Individual churches and their members support a variety of local, national and international charities through their giving and through fundraising events (eg. sponsored walk for Action for Children; donations to Food Banks; sponsoring a child.)

Financial review

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 Charities: Statement of Recommended Practice 2015 as applicable to the Financial Reporting Standard (FRS) 102.

There was a deficit in the General Fund, before gains/losses on investments, for the year of £120,263, compared with a deficit of £31,465 in 2019-20. The budget for the year anticipated a deficit of around £128,000.

General Income for 2020-21 was 28% lower than the previous year at £143,043. Four months’ rental income was received for the vacant Bracknell manse. Assessment income was reduced by £49,000 (27%) in line with the policy to reduce the burden on churches during the Covid pandemic. Winkfield Row Methodist chapel was sold during the year at its anticipated value with £104,700 sales proceeds accruing to the Circuit.

General expenditure was 14% higher than the previous year at £263,306. Increased property and maintenance costs were partly covered by a transfer from the Manse Maintenance Fund. Provision was made for a £10,000 donation from the Circuit to Renova Homeless Charity from the proceeds of sale of Winkfield Row Methodist chapel, which will be made between 2021 and 2023.

Fund balances

The Circuit holds unrestricted general funds of £2,222,137 (previous year £2,100,721), of which £1,545,910 is the estimated market value of the three manses (previous year £1,407,547). The Designated Fund for Manse Maintenance holds £20,667 (previous year £19,300).

The Circuit also holds £169,146 in its Model Trust Fund (previous year £223,051). This decrease was largely due to covering the deficit on the general account, offset by net proceeds of the sale of Winkfield Row Methodist Church.

Plans for 2021-22

The Circuit’s budget for 2021-22 anticipated a return to normal activities following the pandemic: a deficit of £28,000 was foreseen. However as some of the Circuit’s churches had experienced major reductions in income during the previous two years, a contingency was made for further waiver of Assessment for any churches experiencing reduced levels of reserves. Thus a deficit of £60,000 is possible.

4

Risks

The Trustees have examined the principal areas of their operations and considered what major risks could arise in each of these areas. The major risk to the operation of the Circuit is that we are unsuccessful in attracting a Minister to fill any vacant position – this risk is mitigated by the stationing process of the Methodist Church, which aims to provide ministers for openings supported by the District, and in part by the ability to recruit lay workers.

In addition we note that the Circuit is heavily dependent on volunteers, particularly in terms of managing Property and Finance. Lack of volunteers in these areas runs the risk of failing to meet our commitments as a Charity.

The major financial risk to the Circuit would arise if one of the larger churches (especially Wokingham) were unable to meet its Circuit Assessment due to a reduction in giving and/or in property lettings. This risk is mitigated by both the Circuit itself and the individual churches having a Reserves Policy which ensures adequate reserves being in place at all times to meet any shortfalls.

Reserves

The Circuit needs some free reserves in place to enable it to meet its obligations in the event of an unexpected shortfall in income. Free reserves as defined by the Charity Commission are unrestricted funds available to spend on the general purposes of the Circuit and therefore exclude those funds designated for specific purposes and those already utilised in purchasing tangible assets.

The Trustees of the Circuit believe they should hold free reserves sufficient to cover at least six months’ expenditure plus £50,000 as a property reserve for major repairs. Based on planned 2021-22 expenditure this will be £180,000. Net current assets in Unrestricted and non-designated funds were £268,089 at 31 August 2021. We anticipate a reduction in this figure with a budgeted deficit of around £28-60,000 in 2021-22.

We make provision for our property maintenance programme by designating £5,000 per year to maintain each of the three manses. This has been reduced to £2,500 per manse per year while income is reduced due to Covid. Any under or overspend is allocated to or taken from the designated Manse Maintenance Fund. This Fund stood at £20,667 at 31 August 2021.

Public Benefit

The Trustees declare that the Charity is a public benefit entity and they have complied with the duty imposed under the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Approved by the Trustees on 7 June 2022, and

Signed on their behalf by Revd Catherine Bowstead – Trustee

………………………………………………….

5

Name of Circuit: Berkshire Surrey Borders

No: 36/02

Declarations and Scrutiny

I confirm that these accruals-based accounts for the year to 31 August 2021 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit meeting.

Signature of treasurer ……………………………………………………… Date 7 June 2022

Name and address of treasurer: David Morgan

4 Purslane, Wokingham, Berkshire RG40 2DD

Presentation to the Circuit meeting

I confirm that the annual report and accounts for the year ended 31 August 2021 were

presented to the Circuit meeting held on 7 June 2022.

Signature of the Chair of the meeting ……………………………………………………………………

Name of the Chair of the meeting: Revd Catherine Bowstead Date 7 June 2022

6

Independent Examiner’s Report to the Trustees of the

Berkshire Surrey Borders Methodist Circuit

Charity Number 1134496

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the Berkshire Surrey Borders Methodist Circuit for the year ended 31 August 2021. As the Circuit’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Circuit’s accounts carried out under section 145 of the Act and, in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

I have obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date.

Signature of independent examiner ………………………………………………………………….

Name of independent examiner: Alison Elliott

Relevant professional qualifications of the Independent Examiner: ACA, FCCA

Name of firm (where appropriate): Butt Miller

Address: 92 Park Street, Camberley, Surrey, GU15 3NY

Date 7 June 2022

7

Berkshire Surrey Borders Methodist Circuit

Circuit No 36/02

Statement of Financial Activities (SOFA) for the year ended 31 August 2021

Circuit Model
Notes to the
General Fund		 Trust Designated Funds Restricted Endowment Total 2020-
accounts (Unrestricted) (Unrestricted) (unrestricted) Funds Funds 21
£ £ £ £ £ £
Income
1 Donations and legacies 0
2 Income from monetary investments 48 500 548
3 Income from investment properties 5,830 5,830
4 Assessments on Churches 137,032 137,032
5 Capital Receipts 0
6 Grants received 133 133
7 Other charitable income
8Total income 143,043 500 0 0 0 143,543
Expenditure
9 Grants and donations 9 17,500 17,500
10 Salaries and associated costs 7 155,911 155,911
11 Property maintenance 6,133 6,133
12 Connexional assessment & model trust levy 37,980 37,980
13 District Assessment & Levy 7,894 8,653 16,547
14 Depreciation 0
15 Office expenses 0
16 Other outgoings 8 37,888 446 38,334
17Total charitable expenditure 263,306 9,099 0 0 0 272,405
18 Gains/(losses) on monetary investments 0
19 Gains/(losses) on investment properties 4 189,763 189,763
20Net income/(expenditure) 69,500 (8,599) 0 0 0 60,901
21 Transfers between funds 43,938 (45,306) 1,367 (1)
22 Other gains/(losses) 7,978 7,978
23Net movement in funds 121,416 (53,905) 1,367 0 0 68,878
24 Total funds brought forward 2,100,721 223,051 19,300 0 0 2,343,072
25 Total funds carried forward 2,222,137 169,146 20,667 0 0 2,411,950
- - -

Statement of Financial Activities (SOFA) for the year ended 31 August 2020

Circuit Model
Notes to the General Fund Trust Designated Funds Restricted Endowment Total 2019-
accounts (Unrestricted) (Unrestricted) (unrestricted) Funds Funds 20
£ £ £ £ £ £
Income
1 Donations and legacies 6,823 6,823
2 Income from monetary investments 187 1,917 2 2,106
3 Income from investment properties 0 0
4 Assessments on Churches 186,460 186,460
5 Capital Receipts 0 0
6 Grants received 1,100 1,100
7 Other charitable income 5,440 5,440
8 Total income 200,010 1,917 0 2 0 201,929
Expenditure
9 Grants and donations 218 218
10 Salaries and associated costs 126,959 126,959
11 Property maintenance 26,524 26,524
12 Connexional assessment & model trust levy 36,247 36,247
13 District Assessment & Levy 7,679 9,031 16,710
14 Depreciation 0 0
15 Office expenses 127 127
16 Other outgoings 33,721 461 34,182
17 Total charitable expenditure 231,475 9,492 0 0 0 240,967
18 Gains/(losses) on monetary investments 0 0
19 Gains/(losses) on investment properties 111,890 111,890
20 Net income/(expenditure) 80,425 (7,575) 0 2 0 72,852
21 Transfers between funds 11,526 (11,524) (2) 0
22 Other gains/(losses) 0
23 Net movement in funds 91,951 (7,575) (11,524) 0 0 72,852
24 Total funds brought forward 2,008,770 230,626 30,824 0 0 2,270,220
25 Total funds carried forward 2,100,721 223,051 19,300 0 0 2,343,072

8

Berkshire Surrey Borders Methodist Circuit

Circuit No

Fixed Assets Notes to the
Accounts		 Balance Sheet as a t 31 August 2021
General Fund
(Unrestricted)
£		 Circuit Model
Trusts
(Unrestricted)
£		 Designated
Funds
(Unrestricted)
£		 Restricted
Funds
£		 Endowment
Funds
£		 Totals
2020/21
£		 Totals 2019/20
£
CircuitManses &Equipment 14 1,545,910 1,545,910 1,407,547
Investment properties 14 582,284 582,284 634,884
Investments 0
Total fixed assets 2,128,194 0 0 0 0 2,128,194 2,042,431
Current Assets
Debtors 11 9,666 9,666 22,458
Loans by the Circuit 11 4,500 4,500 15,000
Investmentswith TMCP 169,146 169,146 223,051
Central Finance Board Deposits 92,520 92,520 5,416
Cash at Bank and in hand 56,215 20,667 76,882 38,701
Total current assets 162,901 169,146 20,667 0 0 352,714 304,626
Current liabilities
Creditors (due in under 1 year) 12 58,958 58,958 3,985
Grants payablewithin 2021-22 12 5,000 5,000 0
Total current liabilities 63,958 0 0 0 0 63,958 3,985
Net current assets/liabilities 98,943 169,146 20,667 0 0 288,756 300,641
Total assets less current liabilities 2,227,137 169,146 20,667 0 0 2,416,950 2,343,072
Long term liabilities (due after
more than one year)
Grants payable after 2021-22 12 5,000 5,000 0
Loans to the Circuit 0 0
0
Net assets 2,222,137 169,146 20,667 0 0 2,411,950 2,343,072
Funds of the Circuit 0
General Fund (Unrestricted) 17 2,222,137 2,222,137 2,100,721
Circuit Model Trust Fund (Unrestricted) 17 169,146 169,146 223,051
DesignatedFunds (Unrestricted) 17 20,667 20,667 19,300
Total Unrestricted Funds 2,411,950 2,343,072
RestrictedFunds 0 0
Endowment Funds 0 0
Total Funds 2,222,137 169,146 20,667 0 0 2,411,950 2,343,072
Signed

Circuit Treasurer

9

Berkshire Surrey Borders Methodist Circuit

Notes to the Accounts

1 Basis of accounting

The financial statements have been prepared under the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

The presentation currency of the financial statements is the Pound Sterling (£).

2 Funds

The funds held constitute General Funds held for any purpose of the Circuit which are Unrestricted, Circuit Model Trust Fund which has wide purpose and is categorised as unrestricted, Designated funds which are Unrestricted but held for a narrower purpose (maintenance of Manses), and the Alma Adley Bequest Fund which is restricted but has now been used. There are no Endowment funds. Details of each material fund are disclosed in Note 17 to these accounts. Any funds may be represented by more than just cash.

3 Accounting policies

Basis

These accounts have been prepared on the basis of historical cost convention with items recognised at cost or transaction value, unless otherwise stated in the relevant notes, and on the accruals basis to show a true and fair view of the Circuit’s financial position and activities.

Incoming Resources

Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.

Resources Expended

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 of economic 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 at the time of agreement 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 is treated 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 originally agreed terms.

VAT

Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

Tangible fixed assets for use by the Circuit

Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £500.

The freehold property is shown in the accounts at 2015 deemed values, uprated using the Nationwide index of house prices for the Outer South East region. No depreciation is provided on the building because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The properties have been reviewed for impairment.

Where property held is surplus to normal staffing requirements and it is anticipated that it is unlikely to be used as a manse within two years, the property is classified as Investment Property (whether let out or not).

Investment Properties

In 2019 the Circuit assumed responsibility for a chapel and associated land following closure and cessation of worship for a church within the Circuit. The property was sold during the current year.

10

Berkshire Surrey Borders Methodist Circuit

Concessionary Loans

Concessionary loans are initially recognised and measured at the amount received or paid with the carrying amount adjusted in subsequent years to reflect repayments, any accrued interest and, if necessary, any impairments.

Current Asset Investments

Current asset investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.

Going concern

At the time of signing these accounts, the trustees believe that the charity has adequate resources and reserves to continue in operational existence for the foreseeable future.

The 2020-21 financial year has been dramatically affected by the COVID-19 pandemic. Churches had to close for worship from March 2020 and have only recently been able to open their doors fully. The Circuit decided to reduce the assessment burden on the churches by not requesting a contribution for quarter 1 and only requesting 50% for quarter 2. The increased deficit was met from reserves.

4 Gains on investments

Property revaluation (Unrealised)
Investment property revaluation (Unrealised)		 2020/21
£
2019/20
£
138,363
87,890
51,400
24,000
189,763
111,890

5 Payment to Trustees

Five trustees received remuneration in relation to their employment with the Charity as ministers or lay employees. There were no other payments made to trustees for additional services provided to the Circuit.

Trustee expenses reimbursed
Number of Trustees reimbursed
Total amount reimbursed		 2020/21
2019/20
8
11
£4,849
£13,868

Expense payments primarily relate to reimbursement for travel costs for attending meetings, plus reimbursement of costs paid directly by Circuit Officers (principally in relation to property repairs).

6 Fees for examination of the accounts

Independent examiner’s fees for reporting on the accounts
Other fees (e.g. advice, accountancy services) paid to the independent examiner
7 Paid employees
Staff costs paid during the year were:
Gross wages, salaries and benefits in kind
Employer’s National Insurance costs
Pension costs
Total staff costs
Average monthly employees in the year were:		 2020/21
£
2019/20
£
1,200
1,140
800
720
2,000
1,860
2020/21
£
2019/20
£
115,732
102,915
10,815
8,515
29,364
15,529
155,911
126,959
8
6

No employees receive employee benefits of more than £60,000.

11

Berkshire Surrey Borders Methodist Circuit

8 Other outgoings

Travel
Telephone and internet
Training
Utilities
Council tax
Insurance
Removal expenses
Other expenses
MTF administration
Total		 2020/21
£
2019/20
£
3,430
5,892
1,495
1,045
-
222
2,347
1,337
6,910
7,181
4,892
5,299
8,120
9,156
10,694
3,590
446
461
38,334
34,183

9 Grants

The concessionary loan for £15,000 brought forward from 2019/20 related to car park works undertaken at one of the churches. Due to the Covid-19 pandemic affecting the church’s income, the Circuit accepted a grant request to cover 50% of the costs of car park works, in line with the Circuit’s usual grant procedures. The grant of £7,500 has been included in the 2020/21 accounts.

Further to the sale of a chapel and land during the year, the Circuit gave a ‘tithe’ of £5,000 per annum to be paid to a trust in 2021/22 and 2022/23. Since the Circuit recognises the moral responsibility to meet future instalments of grants, all future liabilities are shown as liabilities on the balance sheet.

10 Related Party Transactions

During the previous year the charity made a concessionary loan to a church within the Circuit. See note 16 for more details.

11 Debtors and Prepayments

Debtors
Stipends paid in advance
HMRC JRS Grant
Total
Concessionary loan
Grand total
Amounts due in more than 1 year
Concessionary loan
12 Current liabilities
Creditors
Assessments received in advance
Grant
Total
Amounts due in more than 1 year
Grant		 2020/21
£
2019/20
£
500
12,324
9,166
9,059
-
1,075
9,666
22,458
4,500
15,000
14,166
37,458
1,500
12,000
2020/21
£
2019/20
£
11,250
3,360
47,708
625
5,000
-
63,958
3,985
5,000
-

13 Capital Commitments and Contingent Liabilities

At the 31st August 2021 there are no capital commitments or contingent liabilities.

12

Berkshire Surrey Borders Methodist Circuit

14 Tangible Fixed Assets

Cost and valuation
Balance brought forward
Additions
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried forward
Accumulated
depreciation
Balance brought forward
Depreciation charge for
year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried forward
Net book value*
Brought forward
Carried forward		 Investment
Properties
£
634,884
-
51,400
(104,000)
-
582,284
-
-
-
-
-
-
634,884
582,284		 Land
£
Manses
£
Total
£
810,778
596,769
1,407,547
-
-
-
63,160
75,203
138,363
-
-
-
-
-
-
873,938
671,972
1,545,910
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
810,778
596,769
1,407,547
873,938
671,972
1,545,910

The freehold property is shown in the accounts at 2015 deemed values, uprated annually using the Nationwide index of house prices for the Outer South East region.

One of the properties was no longer used as a manse at 31[st] August 2020. As this is not expected to be a temporary arrangement the property has been reclassified as an investment property.

Cost or valuation at 31[st] August 2021 is represented by:

Cost
Valuation in 2013
Valuation in 2014
Valuation in 2015
Valuation in 2016
Valuation in 2017
Valuation in 2018
Control acquired over asset (at valuation)
Valuation in 2019
Valuation in 2020
Property reclassification
Valuation in 2021
Disposal
As at 31stAugust 2021		 Investment
Properties
£
88,000
24,000
522,884
51,400
(104,000)
582,284		 Land
£
Manses
£
Total
£
553,474
448,652
1,002,126
273,433
221,647
495,080
58,140
47,128
105,268
48,675
39,457
88,132
43,565
35,315
78,880
38,256
30,851
69,107
7,978
7,462
15,440
-
-
-
(5,938)
45,418
(5,554)
42,472
(11,492)
87,890
(252,223)
63,160
(270,661)
75,203
(522,884)
138,363
-
-
-
873,938
671,972
1,545,910

13

Berkshire Surrey Borders Methodist Circuit

15 Investments

During the period the Circuit sold a chapel and associated land following closure and cessation of worship for a church within the Circuit. The property was recognised in the 2019 accounts at its anticipated net sale price as determined by a professional valuation and after taking into consideration the levy to be charged by the Connexion.

The Circuit has no common investment fund holdings.

The funds that support the Circuit Model Trust Fund and the Manses Fund are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month.

TCMP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

16 Loans

During the prior period the charity granted a concessionary loan of £15,000 to Bracknell Church to be repaid back over 5 years.

Church Date granted Amount Period Balance Additions Repaid Balance Amount due
brought this Carried in more than
forward year Forward 1 year
£ £ £ £ £ £
Bracknell November 2019 15,000 5 years 15,000 0 3,000 12,000 9,000

17 Detailed analysis of individual fund movements

At Gains and Extraordinary At
Unrestricted
fund name		 01.09.20
£		 Income
£		 Expenditure
£		 Transfers
£		 losses
£		 items
£		 31.08.21
£
General 2,100,721 143,043 263,306 43,938 197,741 0 2,222,137
Circuit Model 223,051 500 9,099 (45,306) 0 0 169,146
Trusts
Designated Manse 19,300 0 0 1,367 0 0 20,667
Maintenance
Gains and Purpose
Restricted fund 01.09.20 Income Expenditure Transfers losses 31.08.21 of the
name £ £ £ £ £ £ fund
Alma Adley 0 0 0 0 0 0 May be
Bequest Fund utilised for
the
purpose of
the Circuit

14

Berkshire Surrey Borders Methodist Circuit

Comparatives for movement in funds

Unrestricted
fund name		 01.09.19
£		 Income
£		 Expenditure
£		 Expenditure
£		 Transfers
£		 Gains and
losses
£		 Gains and
losses
£		 Extraordinary
items
£		 Extraordinary
items
£		 31.08.20
£
General 2,008,770 200,010 231,475 11,526
111,890		 0 2,100,721
Circuit Model 230,626 1,917 9,492 0 0 0 223,051
Trusts
Designated Manse 30,824 0 0
 (11,524) 0 0 19,300
Maintenance
Gains and Purpose
Restricted fund 01.09.19 Income Expenditure
Transfers		 losses 31.08.20 of the
name £ £ £ £ £ £ fund
Alma Adley 0 2 0 (2) 0 0 May be
Bequest Fund utilised for
the
purpose of
the Circuit

18 For information only Money received and passed on to External Organisations

2020/21 2019/20
£ £
Balance brought forward 46 46
Offerings/Gifts - received for External Organisations - -
Offerings/Gifts - passed to External Organisations - -
Balance carried forward 46 46

15