REGISTERED CHARITY NUMBER: 1134873
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 31 August 2023
for
BRISTOL DISTRICT OF THE METHODIST CHURCH
BRISTOL DISTRICT OF THE METHODIST CHURCH
Contents of the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 18 |
| Detailed Statement of Financial Activities | 19 | to | 20 |
BRISTOL DISTRICT OF THE METHODIST CHURCH
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
The trustees present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Significant activities
- The advancement of the Christian Faith with the doctrinal standards and discipline of the Methodist Church.
The District continues to support a range of activities under this heading including:
-
public worship, teaching, mutual help and support;
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working with and in the community especially to support the vulnerable; and
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supporting diversity in all its forms and providing support for the community.
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The advancement of any Charitable Purpose in the District, Circuit, local or other organisation of the Methodist Church in the Bristol District.
Specific activities supported under this heading include:
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providing help and assistance to Children and Young people's work within the churches of the District;
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supporting ecumenical work in the among the churches of the District;
-
supporting ecumenical work in the universities of the District; and
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assisting and training for those working within the Methodist churches of the District.
The trustees have had regard to the Charity Commission's guidance on public benefit.
Grant making
In the case of the grant making functions of the District through its restricted and endowment funds, it is the policy of the District only to make grants against funds actually available in those funds at the time of the grant (even if the grant is spread over a number of years) - no future income to the fund is assumed when a grant is made.
Volunteers
Every entity (Connexion, District, Circuit, Church) within the Methodist Church in Great Britain is heavily reliant on volunteers who contribute their skills, time and money in the furtherance of the work of the Church. Principally this contribution is by serving on committees of the District that deal with mission, manses, finance, policy, grants, training, development. We are grateful to all of them for their help and commitment.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The District endeavours to maximise the District's potential as a facilitator and resource for mission in support of the Circuits and Areas that comprise the District, and to identify what needs to be done by the District and what can be done and is best done at different levels within the District.
Work has continued in the fields of Safeguarding, Grants and Project approvals along with a wide range of other necessary and requested work across the District being undertaken and delivered to fulfil Methodist Church Standing Orders and to resource circuits and churches in the District.
The District continues working with the Trustees of John Wesley's Room (the New Room) in Bristol.
The management structures for the District, which have been in operation since September 2018, are functioning well and are being reviewed as a matter of good practice.
Page 1
BRISTOL DISTRICT OF THE METHODIST CHURCH
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
FINANCIAL REVIEW
Principal funding sources
The principal recurring source of income continues to be the mandatory payments by Methodist circuits in the District.
The income to the District Advance Fund is derived from levies on Circuit Advance Funds which in turn rely on property sales and disposals for their replenishment. This has enabled continuation of the number and level of new grants from the District Advance Fund.
Ongoing Expenditure
The District is continuing to develop its relationships with regional training staff employed by the Methodist Church and covering the South West. This provides a resource to the region equivalent to 1 1/3 persons per year. The employment of the Safeguarding Officer will continue as there has been much increased demand placed upon this role. The District support for a part time education officer based at the New Room is through grant funding. The District continue to see increasing enthusiasm and cohesion in the youth work around the District and are considering how best to support this work.
Reserves policy
The reserves available for use by the District are deemed to be those funds that are readily realisable less those funds which are restricted or designated for other purposes. The District has an established reserves policy which provides six month's reserves against normal expenditure. This policy is deemed by the District Policy Committee to be sufficient to allow for an orderly cessation or reorganisation of continuing activities in the event of unforeseen financial difficulties, for example, default on payments to the District. The reserves policy does not allow for assessment payments to the Methodist Church, it being considered that the Methodist Church and individual Circuits have reserves policies that are robust against failures in these payments.
At the year end the District held total reserves of £1,357,196 (2022 - £1,193,201) of which £82,700 (2022 - £80,002) was held in restricted funds. The District held £143,050 (2022 - £140,610) in free reserves which equated to more than 12 months' general expenditure (excluding grants payable and levies).
Going concern
The District has confirmed with the Circuit Treasurers their ability to pay their assessments for the financial year 2022/23. The Trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.
The Trustees therefore consider it appropriate to adopt the going concern basis of preparation of the accounts, as detailed in note 1 to the financial statements.
FUTURE PLANS
All activities of the District continue to be reviewed to ensure that what is done is relevant to the needs of the present time and are affordable.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Structure, Governance and Management of the Bristol District is as established by The Deed of Union and the Model Trusts enshrined in The Methodist Church Act 1976 and as set out in detail in the Constitutional Practice and Discipline of the Methodist Church.
Recruitment and appointment of new trustees
Trustees are appointed based on their experience and skills, independence of thought and commitment to the furthering the objectives of the Methodist Church.
Page 2
BRISTOL DISTRICT OF THE METHODIST CHURCH
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure and wider network
Circuits are groups of churches; circuits pay the stipends of the ministers and employ lay staff to serve the churches in the circuit; most decisions are made at or ratified by the half yearly circuit meeting. A district is a group of contiguous circuits and makes its decisions at the half yearly synods. The Methodist Conference meets once each year and is the supreme governing body in the Church.
1. Overall control rests with the Methodist Conference.
-
The Connexional Office implements decisions made by Conference and is also responsible for the stationing of presbyters and deacons in individual circuits within the District.
-
Connexional decisions are passed to the Chair of the District and the appropriate officers of the District for implementation.
-
The District passes control down to circuit level for local implementation by the Superintendent Minister, ministerial staff and circuit stewards, and authority is delegated to the Circuit Meeting for certain matters.
-
The Circuit Meeting passes control down to church councils for local implementation by the presbyter, the church stewards, and other officers, and authority is delegated to church councils as Managing Trustees.
Induction and training of new trustees
The Methodist Church runs a number of seminars relating to the induction and training of trustees and trustees of the District are expected to attend. Most appointees are trustees of other organisations and will also have experience and training with the other organisation.
Risk management
Major risks are reviewed regularly by the District's Policy Committee which establishes systems and procedures to manage those risks. In terms of governance, the District Policy Committee and District Scrutiny Group are functioning well.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1134873
Principal address
Victoria Methodist Church 1a Whiteladies Road Bristol BS8 1NU
Trustees
Rev Dr J Pye - Chair of District Mrs A Jackson - Treasurer Mr J Flowers Rev P Stonehewer Rev L Maydew Mrs H Bevan - Synod Secretary Mr P Newton Rev T Swire Rev S Edwards Rev S Toppin (appointed 1.9.23) Mr M Collins (appointed 1.9.23) Rev D Gray (appointed 1.9.23)
Page 3
BRISTOL DISTRICT OF THE METHODIST CHURCH
Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2023
REFERENCE AND ADMINISTRATIVE DETAILS
Independent Examiner
Andrew Jordan FCA Haines Watts Chartered Accountants Bath House 6 - 8 Bath Street Bristol BS1 6HL
Approved by order of the board of trustees on 5 March 2024 and signed on its behalf by:
Mrs A Jackson - Trustee
Page 4
Independent Examiner's Report to the Trustees of Bristol District of the Methodist Church
Independent examiner's report to the trustees of Bristol District of the Methodist Church
I report to the charity trustees on my examination of the accounts of Bristol District of the Methodist Church (the Trust) for the year ended 31 August 2023.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
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.
Andrew Jordan FCA The Institute of Chartered Accountants in England and Wales
Haines Watts Chartered Accountants Bath House 6 - 8 Bath Street Bristol BS1 6HL
7 March 2024
Page 5
BRISTOL DISTRICT OF THE METHODIST CHURCH
Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 4 Management of the Bristol District Grant funding Investment income 3 Other income 5 Total EXPENDITURE ON Charitable activities 6 Management of the Bristol District Grant funding Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 130 127,132 - 5,255 - 132,517 132,878 8,750 141,628 (9,111) 660,404 651,293 |
District Advance Fund £ - - 258,633 24,600 - 283,233 1,809 111,016 112,825 170,408 452,795 623,203 |
Restricted funds £ 260 - - 2,619 - 2,879 181 - 181 2,698 80,002 82,700 |
2023 Total funds £ 390 127,132 258,633 32,474 - 418,629 134,868 119,766 254,634 163,995 1,193,201 1,357,196 |
2022 Total funds £ 421 120,009 280,251 3,924 30,418 |
|---|---|---|---|---|---|
| 435,023 | |||||
| 126,073 84,018 |
|||||
| 210,091 | |||||
| 224,932 968,269 |
|||||
| 1,193,201 |
The notes form part of these financial statements
Page 6
BRISTOL DISTRICT OF THE METHODIST CHURCH
Balance Sheet 31 AUGUST 2023
| Notes FIXED ASSETS Tangible assets 13 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 508,243 148,170 (5,120) 143,050 651,293 - 651,293 |
District Advance Fund £ - 759,308 (73,345) 685,963 685,963 (62,760) 623,203 |
Restricted funds £ - 82,700 - 82,700 82,700 - 82,700 |
2023 Total funds £ 508,243 990,178 (78,465) 911,713 1,419,956 (62,760) 1,357,196 1,274,496 82,700 1,357,196 |
2022 Total funds £ 519,794 858,504 (85,942) 772,562 1,292,356 (99,155) 1,193,201 1,113,199 80,002 1,193,201 |
|---|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 5 March 2024 and were signed on its behalf by:
Mrs A Jackson - Trustee
The notes form part of these financial statements
Page 7
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with 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 financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.
Income
Income is brought into account when it is more likely than not that the economic benefit of the income will accrue to the Bristol District. No attempt is made to measure the value of services donated by volunteers. Details of how the contribution to the cost of the District Chair has been determined appears in note 10.
Individual amounts categorised as Other Income in the SOFA will be shown separately if they are considered material.
The District acts as agent in four matters:
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the collection of quarterly assessments from circuits which are paid to the Methodist Church Fund
-
the payment of expenses of delegates from the District to the Methodist Conference
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the collection taken at the spring synod on behalf of the Methodist Minsters’ Children’s Relief Fund
-
the cost of ministerial health checks recovered from circuits
In all these matters the transactions are not reflected in the SOFA because there is no obligation on the District to make up any shortfall in assessments from circuits. Sums received as circuit assessments cannot be recognised as income in the District as they are the income of the Methodist Church Fund.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants receivable and payable are recognised in the period to which they relate. Grants are recognised in full when the award is made once the District accepts that there is a legal or constructive obligation to make the payment and that such payment is probable.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
continued...
Page 8
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES - continued
Governance costs
Governance costs comprise all costs involved in the public accountability of the charity and its compliance with regulation and good practice.
Tangible fixed assets valuation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Fixtures and fittings - 25% on cost
These are capitalised if they can be used for more than one year, and individually cost at least £1,000. The freehold property is shown at cost. Provision has been made for depreciation where appropriate.
VAT
Since the District is not VAT registered, all input VAT is charged with the expenses to which it refers.
Taxation
The charity is exempt from tax on its charitable activities.
Debtors
Debtors are measured on initial recognition at settlement amount after any amounts advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Cash and short term investments
Cash at bank is held to meet short-term cash commitments as they fall due rather than for investment purposes and includes all cash equivalents held in the form of short-term highly liquid investments including cash on deposit with TMCP and CFB. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.
Creditors
The charity has creditors which are measured at settlement amounts.
Financial Instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
Fund accounting
Unrestricted funds are incoming resources receivable or generated for the objects of the District without further specified purpose. They are available as general funds and can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets the criteria is charged to the fund together with a fair allocation of support costs where appropriate.
Endowment funds represent restricted gifts, the capital normally being unavailable for spending.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 9
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Donated goods and services
The value of services provided by volunteers is not incorporated into the financial statements.
Where goods or service are provided to the charity as a donation that would normally be purchased from suppliers, the contributions are included in the financial statements as an estimate based on the value of the contribution.
Ministers' manse costs
The District is required to provide accommodation for the Chair and his / her family. The District bears the cost of repairs, maintenance, building insurance, Council Tax and water charges. These costs are not shown separately as benefits-in-kind for Ministers as HMRC does not seek to tax these receipts in the hands of the Ministers.
2. DONATIONS AND LEGACIES
| Donations 3. INVESTMENT INCOME Interest and investment income 4. INCOME FROM CHARITABLE ACTIVITIES Activity Assessment or Share Management of the Bristol District Contribution to Chair's stipend related costs Management of the Bristol District Contribution to other staff Management of the Bristol District Other income Management of the Bristol District Contributions from CAF Grant funding CPF distribution Grant funding Connexion - Methodist Action on Poverty and Justice Grant funding |
2023 £ 390 2023 £ 32,474 2023 £ 72,252 47,866 - 7,014 175,761 71,935 10,937 385,765 |
2022 £ 421 2022 £ 3,924 2022 £ 74,840 42,569 2,600 - 115,088 165,163 - |
2022 £ 421 2022 £ 3,924 |
|---|---|---|---|
| 400,260 |
Assessment income is shown net of the payment to the Methodist Church Fund of £584,300 (2022 - £587,064) in accordance with national guidance.
continued...
Page 10
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
5. OTHER INCOME
| Grant refunds CHARITABLE ACTIVITIES COSTS Management of the Bristol District Grant funding |
Direct Costs (see note 7) £ 131,448 6,207 137,655 |
Grant funding of activities (see note 8) £ - 113,559 113,559 |
2023 £ - Support costs £ 3,420 - 3,420 |
2022 £ 30,418 Totals £ 134,868 119,766 |
2022 £ 30,418 |
|
|---|---|---|---|---|---|---|
| 254,634 |
6. CHARITABLE ACTIVITIES COSTS
Payment of assessment collected and passed on to the Methodist Church Fund of £584,300 (2022 - £587,064) has been netted against the respective income in accordance with national guidance.
7. DIRECT COSTS OF CHARITABLE ACTIVITIES
| DIRECT COSTS OF CHARITABLE ACTIVITIES | ||
|---|---|---|
| Staff costs Administration Chair's costs Manse costs Training Ministry Chair's stipend related costs Depreciation GRANTS PAYABLE Grant funding The total grants paid to institutions during the year was as follows: District Advance Fund grants Churches Together Other grants Methodist Ministers' Pension Reserve Warm Space grants |
2023 £ 40,854 14,639 4,351 5,790 11,316 1,288 47,866 11,551 137,655 2023 £ 113,559 2023 £ 96,716 1,740 603 - 13,900 112,959 |
2022 £ 37,705 15,907 3,641 4,868 5,424 1,288 42,569 11,551 |
| 122,953 | ||
| 2022 £ 84,018 |
||
| 2022 £ 59,800 3,218 - 21,000 - |
||
| 84,018 |
8. GRANTS PAYABLE
continued...
Page 11
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
8. GRANTS PAYABLE - continued
The total grants paid to individuals during the year was as follows:
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Other grants | 600 | - |
The Bristol District (through the DAF grants) supports 9 circuits within the Bristol area. The circuits carry out a number of projects and money is provided from the District to support these projects.
9. EXAMINER'S REMUNERATION
Amounts payable to the Independent Examiner comprise £1,350 (2022 - £1,200) for the independent examination and £2,070 (2022 - £1,920) for the preparation of the accounts.
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.
Trustees' expenses
The Chair of District chairs meetings of the District Policy Committee (DPC). The members of the DPC are the trustees of the District. The stipend, employer's NIC and employer's pension contributions of the Chair of District are paid by the Methodist Connexion. The Chair's other costs are met mostly by the District.
| £ | £ 2022 |
|
|---|---|---|
| 2023 | ||
| Stipend of Chair of District | 29,040 | 25,824 3,343 6,946 6,456 42,569 4,868 3,641 8,509 |
| Employers' NI | 3,754 | |
| Employers' pension | 7,812 | |
| Chair's allowance | 7,260 | |
| Costs incurred by Connexion | 47,866 | |
| Manse costs | 5,790 | |
| Chair's expenses | 4,351 | |
| 10,141 | ||
The stipend-related costs above totalling £47,866 (2022 - £42,569) are borne by the Connexion and they therefore appear both in the Income of the District and the Expenditure of the District (see note 11). It should be noted that the Chair is required to occupy the District manse. The manse is provided by Bristol District and the District maintains the property. The Chair of District is the sole paid key management person but is supported by members of the DPC.
Payments to trustees
continued...
Page 12
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
10. TRUSTEES' REMUNERATION AND BENEFITS - continued
Trustees' expenses - continued
It is District policy to offer to reimburse members of the District Policy Committee and others involved in the administration of District affairs for expenditure properly incurred in carrying out their duties. The Chair of the District undertakes the primary executive role within the District. Apart from the Chair of District no member of the District Policy Committee was in receipt of any payment for work undertaken on behalf of the District, although certain travelling and administration costs were reimbursed whenever this was requested.
During the year travel expenses have been reimbursed to other trustees who, in aggregate, have received the cost of travel incurred in attending meetings and this amounted to £772 (2022 - £623).
11. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Safeguarding and administration |
2023 £ 36,682 2,123 2,049 40,854 2023 3 |
2022 £ 34,483 1,892 1,330 |
|---|---|---|
| 37,705 | ||
| 2022 3 |
No employees received emoluments in excess of £60,000.
In addition to the costs above, stipend-related costs of the Chair of £47,866 (2022 - £42,569) are borne by the Connexion. These costs appear both in the income of the District and the expenditure of the District.
Employment-related costs of £6,807 (2022 - £5,630) for the District Administrator, who is employed by Wesley Methodist Church, are included in administration in note 6.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Management of the Bristol District Grant funding Investment income Other income Total |
Unrestricted funds £ 93 120,009 - 792 - 120,894 |
District Advance Fund £ - - 280,251 2,947 30,418 313,616 |
Restricted funds £ 328 - - 185 - 513 |
Total funds £ 421 120,009 280,251 3,924 30,418 |
|---|---|---|---|---|
| 435,023 |
continued...
Page 13
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
| 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Unrestricted funds £ EXPENDITURE ON Charitable activities Management of the Bristol District 124,878 Grant funding 24,218 Total 149,096 NET INCOME/(EXPENDITURE) (28,202) RECONCILIATION OF FUNDS Total funds brought forward 688,606 TOTAL FUNDS CARRIED FORWARD 660,404 13. TANGIBLE FIXED ASSETS COST At 1 September 2022 and 31 August 2023 DEPRECIATION At 1 September 2022 Charge for year At 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 |
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Unrestricted funds £ EXPENDITURE ON Charitable activities Management of the Bristol District 124,878 Grant funding 24,218 Total 149,096 NET INCOME/(EXPENDITURE) (28,202) RECONCILIATION OF FUNDS Total funds brought forward 688,606 TOTAL FUNDS CARRIED FORWARD 660,404 13. TANGIBLE FIXED ASSETS COST At 1 September 2022 and 31 August 2023 DEPRECIATION At 1 September 2022 Charge for year At 31 August 2023 NET BOOK VALUE At 31 August 2023 At 31 August 2022 |
ACTIVITIES District Advance Fund £ 1,195 59,800 60,995 252,621 200,174 452,795 Freehold property £ 577,549 57,755 11,551 69,306 508,243 519,794 |
- | continued Restricted funds £ - - - 513 79,489 80,002 Fixtures and fittings £ 2,604 2,604 - 2,604 - - |
Total funds £ 126,073 84,018 |
|
|---|---|---|---|---|---|---|
| 210,091 | ||||||
| 224,932 968,269 |
||||||
| 1,193,201 | ||||||
| Totals £ 580,153 60,359 11,551 71,910 508,243 519,794 |
continued...
Page 14
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2023 £ Grants payable 73,345 Accruals and deferred income 5,120 78,465 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Grants payable 62,760 16. MOVEMENT IN FUNDS Net movement At 1.9.22 in funds £ £ Unrestricted funds General Fund 140,610 2,440 District Advance Fund 452,795 170,408 Manse Property Fund 519,794 (11,551) 1,113,199 161,297 Restricted funds Bursary Fund (Lay Training) 12,808 374 Chairman's Benevolence Fund 16,481 840 Gloucester City Centre Fund 50,713 1,484 80,002 2,698 TOTAL FUNDS 1,193,201 163,995 |
2022 £ 82,822 3,120 85,942 2022 £ 99,155 At 31.8.23 £ 143,050 623,203 508,243 |
2022 £ 82,822 3,120 |
|---|---|---|
| 85,942 | ||
| 2022 £ 99,155 |
||
| 1,274,496 13,182 17,321 52,197 |
||
| 82,700 | ||
| 1,357,196 |
Page 15
continued...
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund District Advance Fund Manse Property Fund Restricted funds Bursary Fund (Lay Training) Chairman's Benevolence Fund Gloucester City Centre Fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General Fund District Advance Fund Manse Property Fund Restricted funds Bursary Fund (Lay Training) Chairman's Benevolence Fund Gloucester City Centre Fund TOTAL FUNDS |
Incoming resources £ 132,517 283,233 - 415,750 411 840 1,628 2,879 418,629 At 1.9.21 £ 157,261 200,174 531,345 888,780 12,784 16,085 50,620 79,489 968,269 |
Resources Movement expended in funds £ £ (130,077) 2,440 (112,825) 170,408 (11,551) (11,551) (254,453) 161,297 (37) 374 - 840 (144) 1,484 (181) 2,698 (254,634) 163,995 Net movement At in funds 31.8.22 £ £ (16,651) 140,610 252,621 452,795 (11,551) 519,794 224,419 1,113,199 24 12,808 396 16,481 93 50,713 513 80,002 224,932 1,193,201 |
|---|---|---|
Page 16
continued...
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General Fund District Advance Fund Manse Property Fund Restricted funds Bursary Fund (Lay Training) Chairman's Benevolence Fund Gloucester City Centre Fund TOTAL FUNDS |
Incoming resources £ 120,894 313,616 - 434,510 24 396 93 513 435,023 |
Resources Movement expended in funds £ £ (137,545) (16,651) (60,995) 252,621 (11,551) (11,551) (210,091) 224,419 - 24 - 396 - 93 - 513 (210,091) 224,932 |
|---|---|---|
Manse Property Fund (designated)
The fund reflects the net book value of the manse property including fixtures and fittings.
District Advance Fund (designated)
This fund receives income via annual contributions levied on circuit model trust funds and distributions from Connexional advance and property funds. The purpose of these levies and distributions is to release funds for where they are most required. The fund is used to make grants in accordance with the District Mission Policy or to support more specific current initiatives undertaken by the District.
Bursary Fund (restricted)
The fund provides grants to support lay training.
Chairman's Benevolence Fund (restricted)
This fund represents a hardship fund and is expendable at the sole discretion of the District Chairman.
Gloucester City Centre Fund (restricted)
The fund reflects money received from the sale of property by St John's Methodist Church, Gloucester. Methodist rules require that such funds are held by the District, but the District is only allowed to disburse it in response to a request from the Gloucestershire Circuit for work in Gloucester City Centre.
Comparative analysis of net assets between funds, are as follows:
| Fund balances as at 31 August 2022 | Unrestricted | Restricted | Total |
|---|---|---|---|
| funds | funds | funds | |
| £ | £ | £ | |
| Fixed assets | 519,794 | - | 519,794 |
| Current assets | 778,502 | 80,002 | 858,504 |
| Current liabilities | (85,942) | - | (85,942) |
| Liabilities due in more than 1 year | (99,155) | - | (99,155) |
continued...
Page 17
BRISTOL DISTRICT OF THE METHODIST CHURCH
Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2023
16. MOVEMENT IN FUNDS - continued
Total net assets 1,113,199 80,002 1,193,201
17. EMPLOYEE BENEFIT OBLIGATIONS
The pension contributions of the Chair of District are paid by the Methodist Connexion to the Methodist Minister’s Pension Scheme (MMPS).
Lay employees are contractually employees of the District and have the option of joining the Pension and Assurance Scheme for Lay Employees of the Methodist Church (PASLEMC), The Pensions Trust or some other arrangement. PASLEMC is a defined benefit scheme and the employing Churches and Circuits contribute as employers to this scheme.
The District belongs to a multi-employer defined contribution scheme operated by TPT Retirement (formerly The Pensions Trust) which is offered to lay employees. The cost of the pension scheme to the District for the year ended 31 August 2023 was £1,386 (2022- £1,330).
18. CONNECTED ORGANISATIONS AND RELATED PARTIES
All of the District trustees are members of one or another Church and Circuit within the District and may be trustees in their Churches and/or Circuits.
Connected organisations include the Methodist Connexion, Circuits and Churches within the District, other Methodist Districts in Great Britain, the Methodist Ministers' Children's Relief Association, CFB and TMCP. All of these entities have their own trustees or directors and autonomous administration such that Bristol District has no significant influence over any of them, nor they over Bristol District. They are, therefore, not considered related parties.
There were no related party transactions for the year ended 31 August 2023 (2022 - no transactions).
Page 18
BRISTOL DISTRICT OF THE METHODIST CHURCH
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2023
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Interest and investment income Charitable activities Assessment or Share Contributions from CAF CPF distribution Contribution to Chair's stipend related costs Contribution to other staff Connexion - Methodist Action on Poverty and Justice Other income Other income Grant refunds Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Administration Chair's costs Manse costs Training Ministry Chair's stipend related costs Depreciation of tangible fixed assets Grants to institutions Grants to individuals |
2023 £ 390 32,474 72,252 175,761 71,935 47,866 - 10,937 7,014 385,765 - 418,629 36,682 2,123 2,049 14,639 4,351 5,790 11,316 1,288 47,866 11,551 112,959 600 251,214 |
2022 £ 421 3,924 74,840 115,088 165,163 42,569 2,600 - - |
|---|---|---|
| 400,260 30,418 |
||
| 435,023 34,483 1,892 1,330 15,907 3,641 4,868 5,424 1,288 42,569 11,551 84,018 - |
||
| 206,971 |
Support costs
This page does not form part of the statutory financial statements
Page 19
BRISTOL DISTRICT OF THE METHODIST CHURCH
Detailed Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2023
| Support costs Governance costs Independent examiner's remuneration Total resources expended Net income |
2023 £ 3,420 254,634 163,995 |
2022 £ 3,120 |
|---|---|---|
| 210,091 | ||
| 224,932 |
This page does not form part of the statutory financial statements
Page 20