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2022-08-31-accounts

Circuit Accruals Accounts 2021-2022

THE METHODIST CHURCH

TEMPLATE REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2022

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Lancashire West Methodist Circuit
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Registered Charity - Registration number

1134877

LIVERPOOL LIVERPOOL DISTRICT 18 / 19
Ministers Rev Michael Tindsley
Rev Sue Guénault
Rev Alex Laing
Circuit Stewards Linda Jones
Anne Baldwin
Malcolm Roxburgh
Derek Ashcroft
Dilys Lightfoot
Circuit Treasurer Derek Ashcroft

Lancashire West Methodist Circuit

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 AUGUST 2022

Introduction

The Lancashire West Methodist Circuit seeks to support the life of the Communities within its boundaries in a variety of ways:

The continued provision of regular public acts of worship open to members of the church and non-members alike. The teaching of Christianity though sermons, courses and small groups. Pastoral work including visiting the sick and bereaved. Promoting the whole mission of the church through activities and support for older people, parents and toddlers and other specific groups when appropriate.

Aims and organisation

The Circuit is committed to developing a Team Ministry to allow the Circuit Staff to use their particular gifts across the whole Circuit.

We seek to develop Spirituality and Discipleship, and to encourage Outreach across the Circuit. We are committed to working with the four Methodist [two Methodist/CofE] Schools within the Circuit.

We seek to engage with the Rural Communities around us and to support the Chaplaincy in the expanding Edge Hill University.

Review of the year

During the eleventh year of its existence the Circuit has continued to build links between the churches and to find new ways of working together.

Volunteers from the Circuit have made a contribution to the life of the wider community in a variety of ways including: serving on the governing bodies of the four Methodist schools in the Circuit and supporting the work of the Food Banks.

Work with local primary schools has been developed through the decision to appoint a Family & Schools Worker whose remit is to strengthen links between the churches, pupils, staff and parents. The Circuit Trustees are continuing to explore ways of supporting the churches elsewhere in the Circuit by finding the most effective ways of using the resources available to them.

The Circuit has made grants availible to support the mission of our local Churches and Ecumenical partners. We continue to monitor the best use of our resources and deployment of staff.

In compliance with the Safeguarding policy of the Methodist Church, training sessions continue to be held in order that all required people completed the “Creating Safer Spaces” module.

Churches were encouraged to deal with outstanding property issues, and given support with various property schemes. Weekly worship was sustained across the Circuit

The Circuit continued to support World Church, Mission in Britain, Christian Aid, All We Can and to support the work of several local Food Banks. The Circuit began to support the secondary education of six girls in Malawi through the Mamie Martin Fund, a commitment for the next four years. In addition to this Churches responded to crisis appeals at various times through the year.

Income trends

Letting income relates to funds generated from Manse not currently required.

Expenditure trends

Stipend expenditure has increased each financial year in line with conference approved increases.

£33,954 is the Circuit contribution to the District annd Connexion, of which a significant part is used to fund the work of the wider Methodist Church.

The other expenditure includes maintaining the Circuit office, administrator, family & schools worker, 2 manses and supporting mission work.

Fund balances

As at 31 August 2022, the net current assets of the Circuit were £52,852. These exclude investments held by TMCP and any restricted funds, giving approximately 5 months cover for expenditure.

Plans for 2023/24

Circuit financial plans for the coming year have been prepared on the basis that there will be 3 ordained staff in post. With anticipated cost of living stipend increases combined with an increase in the assessment paid to the district, a circuit church assessment has been set with this in mind

Lancashire West Methodist Circuit

Trustee’s Annual Report on Finance and Governance

2021-2022

Basis of preparation and legal framework

The Trustees of the Charity present their Annual Report and the audited financial statements for the year ended 31 August 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial staements and comply with the standing orders of the Methodist Church. The trustees have adopted the provisions of the Statement of Recommentded Practice (SORP) & "Accounting and Reporting by Charities" (FRS102) in preparing the annual report and financial statements of the

Full Name of Charity: Lancashire West Methodist Circuit

Registration Charity Number: 1134877

Date of registration 12/03/2010

Main communication address Emmanuel Methodist United Reformed Church 38 Derby Street Ormskirk L39 2DE

The members of the Lancashire West Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches.

Fully membership is shown as Appendix A to this report.

Circuit Ministers and officers

Active Circuit Ministers Rev Michael Tindsley Rev Sue Guénault Rev Alex Laing Circuit Stewards Mrs Linda Wedge Mr Derek Ashcroft Mrs Anne Baldwin Mrs Dilys Lighfoot Mr Malcolm Roxburgh Independent examiner Mr Chris Cullen 50 Spensers Lane Skelmersdale WN8 9JR

Investment Bankers Central Finance Board of the Methodist Church Trustees for Methodist Church purposes

2021-2022

Lancashire West Methodist Circuit

Aims and organisation

Charity objective is to act as a Resource provider within the area around West Lancashire for the Methodist Church:

The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:

a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;

b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church;

c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;

The organisation and resourcing of regular public acts of worship open to members of the church and non members alike.

The teaching of Christianity through sermons, courses and small groups.

The resourcing of pastoral work including visiting the sick and bereaved.

Taking religious assemblies in local schools.

Promotion of Christianity through the staging of events and services.

Provision of chaplaincy services to the local university and other institutions.

Public Benefit

We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.

Structure, Governance and Management

The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976)

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).

Day to day management of the circuit is undertaken by the Circuit Leadership team along with the Local Preachers meeting, the Circuit Finance and Property Committee and the Circuit Policy Committee.

Trustee Training

A range of guidance produced by Methodist Connexion to support the effective running of the circuit , specifically the leaflet ‘The Role of a Trustee in The Methodist Church’ is given to all new Circuit meeting members as induction to their role as trustees.

Related Parties

The Circuit is part of the Liverpool District and is also accountable to the Methodist Conference. The following Methodist Churches are linked to the circuit: Burscough, Holmeswood, Ormskirk, Mawdesley, Trinity, Upholland, Croston, Tarleton, Holmes, and Mere Brow

Lancashire West Methodist Circuit

2021-2022

Risk Management

The major risks have been identified and recorded by the Circuit Finance and Property Committee with professional advice taken as required.

There is a regular annual review process undertaken and recorded.

Income and Expenditure is being monitored in total and is compared with the approved annual budget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.

Safeguarding

Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

Methodist Connexional practice outlines commitment to the following principles:

The Lancashire West Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches.

Reserves Policy

The Reserves Policy for the Circuit is to hold a minimum sum equivalent to five months’ average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and / or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.

Lancashire West Methodist Circuit

2022-2023

Appendix A

CIRCUIT MEETING MEMBERSHIP as at June 2023

MINISTERS

Rev Michael Tindsley Rev Sue Guenault Rev Alex Laing

for the year ended 31 August 2022

SUPERNUMERARY MINISTERS

Rev Dr Geoff Farthing

LAYWORKERS

CIRCUIT STEWARDS

Linda Jones Dilys Lightfoot Malcolm Roxburgh Anne Baldwin Derek Ashcroft

Circuit Local Preachers & Worship Leaders representatives

Dr Julian Butcher

Circuit Meeting Secretary Jayne Chard

Circuit Safeguarding Co-ordinator Peter Harrison

CIRCUIT CHURCH REPRESENTATIVES

Church 1 Burscough Methodist Rep 1 Brian Guy
Rep 2 Jackie Moore
Rep 3 Sid Cleary
Church 2 Holmeswood Methodist Rep 1 Colin Aspinall
Rep 2 Graham Wright
Church 3 Trinity Methodist Croston Rep 1 George Lloyd
Rep 2 Christine Fisher
Church 4 Tarleton Methodist Rep 1 Tom Gregson
Rep 2 Patricia Barron
Church 5 Holmes Methodist Rep 1 Keith Ascroft
Rep 2 Barbara Meynall
Rep 3 Marion Ascroft
Church 6 Emmanuel Methodist URC Rep 1 Mark Taylor
Rep 2 Peter Harrison
Church 7 Mawdesley Methodist Rep 1 Jane Allen
Rep 2 David Allen
Rep 3 Idris Owen
Church 8 Trinity Methodist URC Rep 1 Helen Porter
Rep 2 Jenny Ashcroft
Church 9 Upholland Methodist Rep 1 Jean Bradshaw
Rep 2 Alan Jones
Church 10 Mere Brow Methodist Rep 1 Joan Lawson
Rep 2 Natalie Travis
Rep 3 Margaret Warren

Circuit No 18/19

LANCASHIRE WEST METHODIST CIRCUIT

Financial Statements

For the Year Ending 31 August 2022

Name of Circuit

Circuit No 18/19

Lancashire West

Statement of Financial Activities (SOFA) for the year ended 31 August 2022

Notes to Circuit Model Circuit Model Designated
the General Fund Trust Funds Restricted Endowment Total
accounts
(Unrestricted)		 (Unrestricted) (unrestricted) Funds Funds 2021-22
£ £ £ £ £ £
Income
1 Donations and legacies 4,295 4,295
2 Income from monetary investments 76 9,244 7,745 17,065
3 Income from investment properties 250 250
4 Assessments on Churches 162,072 162,072
5 Capital Receipts/loan repayments 0
6 Loan Repayment 10,000 10,000
7 Other charitable income 2,092
8Total income 174,490 9,244 7,745 4,295 - 195,774
Expenditure
9 Grants and donations 32,700 3,830 36,530
10 Salaries and associated costs 139,104 139,104
11 Property maintenance( inc Ins & utilities) 2,255 20,213 22,468
12 Connexional assessment & model trust levy 22,636 113,689 136,325
13 District Assessment & Levy 11,318 20,333 31,651
14 Depreciation/loans made 6,000 6,000
15 Office expenses 1,851 1,851
16 Other outgoings 8,076 1,106 510 9,692
17Total charitable expenditure 223,940 135,128 20,723 3,830 0 383,621
18 Gains/(losses) on monetary investments - 42,354
 -42,354
19 Gains/(losses) on investment properties -266,278 344,263 77,985
20Net income/(expenditure) -315,728 176,025 -12,978 465 0 -152,216
21 Transfers between funds 49,413 - 57,000
 7,587 0
22 Other gains/(losses)
23Net movement in funds -266,315 119,025 -5,391 465 0 -152,216
24 Total funds brought forward 1,100,379 387,775 24,827 82 1,513,063
25 Total funds carried forward 834,064 506,800 19,436 547 - 1,360,847

Name of Circuit

Lancashire west

Circuit No 18/19

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

General Circuit Designated
Fund Model Trust Funds
Notes to the
(Unrestricte		 (Unrestricte (unrestricte Restricted Endowment
Total
accounts d) d) d) Funds Funds 2020-21
£ £ £ £ £ £
Income
1 Donations and legacies 0
2 Income from monetary investments
3.1a		 43 1,612 17,179 18,834
3 Income from investment properties 3.1b 250 324 574
4 Assessments on Churches 3.1c 169,577 169,577
5 Capital Receipts/Loan Repayments 22,000 22,000
6 Grants received 3.1d 10,000 10,000
7 Other charitable income 3.1e 12,895 12,895
8Total income 214,765 1,936 17,179 - - 233,880
Expenditure
9 Grants and donations 3.2a 11,700 11,700
10 Salaries and associated costs 134,586 134,586
11 Property maintenance ( inc Ins & Utilities 2,581 2,917 5,498
12 Connexional assessment & model trust levy 32,946 138,116 171,062
13 District Assessment & Levy 10,390 2,043 12,433
14 Depreciation/Loans made 3.2b 3,000 3,000
15 Office expenses 1,562 1,562
16 Other outgoings 3,640 163 18,128 21,931
17Total charitable expenditure 200,405 140,322 21,045 0 0 361,773
18 Gains/(losses) on monetary investments 0
19 Gains/(losses) on investment properties - 261,675
 439,603 177,928
20Net income/(expenditure) -247,315 301,217 -3,866 0 0 50,035
21 Transfers between funds 2,762 - 10,000
 7,238 0
22 Other gains/(losses)/loans Due 14,829 14,829
23Net movement in funds -244,553 306,046 3,372 0 0 64,864
24 Total funds brought forward 1,344,932 81,729 21,454 82 1,448,197
25 Total funds carried forward 1,100,379 387,775 24,826 82 - 1,513,061

Name of Circuit

Circuit No 18/19

Lancashire West

Balance Sheet as at 31 August 2022

Note
Accoun
Fixed Assets		 Note
Accoun
Fixed Assets		 s
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2022/23

£
£
£
£
£
£
793,974
793,974
6,674
6,674
0
800,648
0
0
0
0
800,648
-351
-351
36,828
36,828
506,800
506,800
109
15,000
15,109
6,830
4,436
547
11,813
43,416
506,800
19,436
547
0
570,199		 s
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2022/23

£
£
£
£
£
£
793,974
793,974
6,674
6,674
0
800,648
0
0
0
0
800,648
-351
-351
36,828
36,828
506,800
506,800
109
15,000
15,109
6,830
4,436
547
11,813
43,416
506,800
19,436
547
0
570,199		 s
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2022/23

£
£
£
£
£
£
793,974
793,974
6,674
6,674
0
800,648
0
0
0
0
800,648
-351
-351
36,828
36,828
506,800
506,800
109
15,000
15,109
6,830
4,436
547
11,813
43,416
506,800
19,436
547
0
570,199		 s
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2022/23

£
£
£
£
£
£
793,974
793,974
6,674
6,674
0
800,648
0
0
0
0
800,648
-351
-351
36,828
36,828
506,800
506,800
109
15,000
15,109
6,830
4,436
547
11,813
43,416
506,800
19,436
547
0
570,199		 s
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2022/23

£
£
£
£
£
£
793,974
793,974
6,674
6,674
0
800,648
0
0
0
0
800,648
-351
-351
36,828
36,828
506,800
506,800
109
15,000
15,109
6,830
4,436
547
11,813
43,416
506,800
19,436
547
0
570,199		 s
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2022/23

£
£
£
£
£
£
793,974
793,974
6,674
6,674
0
800,648
0
0
0
0
800,648
-351
-351
36,828
36,828
506,800
506,800
109
15,000
15,109
6,830
4,436
547
11,813
43,416
506,800
19,436
547
0
570,199		 s
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2022/23

£
£
£
£
£
£
793,974
793,974
6,674
6,674
0
800,648
0
0
0
0
800,648
-351
-351
36,828
36,828
506,800
506,800
109
15,000
15,109
6,830
4,436
547
11,813
43,416
506,800
19,436
547
0
570,199		 GN
Totals
2020/21
£
1,017,219
R
5,829
R
1,023,048
28,400
S
30,828
390,775
26,867
T
13,144
490,014
U
V
0
490,014
1,513,062
V
1,513,062
W
1,100,379
387,775
W
24,826
1,512,980
82
1,513,062
Circuit Manses & Equipment 793,974 793,974
Investmentproperties 6,674 6,674
Investments 0
Total fixed assets 800,648 0 0 0 0 800,648
Current Assets
Debtors -351 -351
Loans bythe Circuit 36,828 36,828
Investments with TMCP 506,800 506,800
Central Finance Board Deposits 109 15,000 15,109
Cash at Bank and in hand 6,830 4,436 547 11,813
Total current assets 43,416 506,800 19,436 547 0 570,199
Current liabilities
Creditors (due in under 1 year) 10,000 10,000
Grantspayable within 2021-22 0
Total current liabilities 10,000 0 0 0 0 10,000 0
Net current assets/liabilities 33,416 506,800 19,436 547 0 560,199 490,014
Total assets less current liabilities 834,064 506,800 19,436 547 0 1,360,847 1,513,062
0
0
0
834,064
506,800
19,436
547
0
1,360,847
834,064
834,064
506,800
506,800
19,436
19,436
1,360,300
547
547
0
0
834,064
506,800
19,436
547
0
1,360,847
Long term liabilities
(due after more than oneyear)
Grantspayable after 2021-22 0
Loans to the Circuit 0
0
Net assets 834,064 506,800 19,436 547 0 1,360,847
Funds of the Circuit
General Fund(Unrestricted) 834,064 506,800
19,436
547
0		 834,064 1,100,379
Circuit Model Trust Fund (Unrestricted) 506,800 506,800 387,775
Designated Funds(Unrestricted) 19,436 19,436 24,826
Total Unrestricted Funds 1,360,300 1,512,980
Restricted Funds 547 547 82
Endowment Funds 0 0
Total Funds 834,064 506,800 19,436 547 0 1,360,847 1,513,062

Signed

Circuit Treasurer

Notes to the Accounts 21/22

1 Basis of accounting

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS102 – the Charities SORP

2 Funds

The funds held constitute: General Funds held for any purpose of the Circuit which are Unrestricted. The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted. Details of each material fund is disclosed in the final note 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 except that investments are shown at their market value at the end of the year, on the accruals basis to show a true and fair view of the Circuit’s financial position and activities. Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

3.1 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.

a) Income from monetary investments relate to CFB & CTMP account interst

c) Income from assessments on circuit churches on formula of ‘ability to pay’ basis.

3.2 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.

a) 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. Grants were made to the Connexion Departments and circuit churches to further their mission work and/or make property refurbishments to enable mission outreach.

b) Loans

Loans to churches are made to support work or/and mission with an interest free three year payback perod(Emmanuel) or in the case of Tarleton church, to meet fees until church land has been sold

3.3 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 circuit property (Manses) is shown in the accounts at insured re-instatement value, the latest being professionally carried out in 2016. No depreciation is provided on the buildings 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. See note on the investment properties. Insured value of equipment for use throughout the Circuit, has been, and will be re-valued each year end

4.1 Investment Properties

With the exception of the land known as Roby Mill, no property is currently deemed to not be held for the long term purposes of the charity.

a) In 2016/17, the property known as ‘Roby Mill’ was disposed of but a piece of ‘Nursery Land’ retained with no specific value which is leased to an Allottment Group as approved by the Custodian Trustees

b )There are no additional investment properties, however one of two manses was not occupied by a minister in over the last 3yrs and is being rented out to provide accommodation for a family of Afgan Refugees. This is seen as a medium to short term arrangement, and may be reclassified as investment property in future years accounts

.

c) The number of circuit presbyters has been reduced from 4 to 3. Two are using their home as a 'Manse' so one further manse has been sold with a net value of £227574 after fees and levies payable. The proceeds have been invested at CFB/TMCP with the intention a purchasing a replacement when suitable property becomes available.

4.2 Investments

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.

4.3 Debtors and Prepayments

Prepayments on September stipends and associated costs.

4.4 Creditors

Creditors include both sundry expenses and specifically the 1st quarter assessment received in August.

5 Payment to Trustees

There were no payments made to trustees for additional services provided to the Circuit by agreement with the Circuit Meeting except those who perform the duties of Local Preachers, Supernumeraries and Circuit stewards for travel reimbursement only. Costs are included in ‘Other outgoings’ - see line 16 in SOFA

Trustee expenses

20/21 2021/22
Number of Trustees
6		 6
Total Amount £150 £1,025

6 Fees for examination or audit of the accounts

nation or audit of the accounts
Independent examiner’s or auditors'
fees for reporting on the accounts
Other fees (eg: advice, accountancy
services) paid to the independent
examiner or auditor		 20/21 2021/22
NIL NIL
NIL NIL

7 Paid employees

Staff Costs paid during the year Gross wages, salaries and benefits Employer’s National Insurance Pension costs Total staff costs

Average number of full-time

20/21 21/22
£17,439 £23,166
£0 £0
£1,113 £1,390
£18,552 £24,556
1.5 1.5

8 Capital Commitments and Contingent Liabilities

At the 31st August 2022 there are no capital commitments.

No Contingent liabilities were identified at 31st August 2022

9 Tangible Fixed Assets

Fixed Assets
Cost or valuation
Land Manses buildings fittings Total
£ £ £ £ £
Balance brought forward 5829 1,015,517 1702 1,023,048
Revaluations(+/-) 845 91,244 -426 91,663
Disposals(-) 314,063 314,063
Transfers *(+/-) -
Balance carried forward 6,674 792,698 1,276 800,648

Accumulated depreciation

Balance brought forward
Depreciation charge for
year (-)		 0 0
Revaluations (+/-)
Disposals (-)
Transfers* (+/-)
Balance carried forward 0 0

Net book value

Brought forward 5,829 1,015,517 0 1,702 1,023,048
Carried forward 6,674 792,698 0 1,276 800,648

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

Balance brought forward from last year
Offerings/Gifts - received for External Organisations
Offerings/Gifts - passed to External Organisations
Balance carried forward		 2020/21 21/22
0 0
2085 2100
2085 2100
0 0

11 Investment Assets The Circuit has no additional assets - see note 4

12 Loans The Circuit has no current loans due

13 Summary of fund movements 2022

Fund Balance at 1st
Sept 2021		 Income Expenditure Transfers Gains/Loss Balance at
31st Aug 2022
Unrestricted & Undesignated £ £ £ £
General 1,100,379 174,490 223,940 49413 -266,278 834,064
Circuit Model Trust 387,775 9,244 135,127 -57000 301909 506,801
Total 1,488,154 183,734 359,067 7,587
-		 35,631 1,340,865
Designated 0
Property Account 21,209 7,745 20,213 7587 16,328
Emergensies & Removals 3,617 - 510 0 - 3,107
Total 24,826 7,745 20,723 7,587 0 19,435
Total Unrestricted 1,512,980 191,479 379,790 - 35,631 1,360,300
Restricted
Love Beyond our Shores Project 82 4,295 3,830 0 547
0
Total Restricted & Endowment 82 4,295 3,830 - - 547
Total of all funds 1,513,062 195,774 383,620 - 35,631 1,360,847

Analysis of Net Assets Between Funds

Fund balances at August 2022 are represented by :

Balance at 1st
Sept 2021		 General Fund Circuit Model
Trust Fund		 Designated
Funds		 Restricted &
Endowment
Funds		 Balance at
31st Aug 2022
Tangible Fixed Assets 1,023,048 800,648 800,648
Fixed Asset Investments - -
Investments -
Current Assets 490,014 33,416 506,800 19,436 547 560,199
Current Liabilities - -
Creditors Due After one Year - - -
Total Fund Value 1,513,062 834,064 506,800 19,436 547 1,360,847

GUIDANCE NOTES

Please see sparate document 'suggested framework for Circuit annual report'. This shows examples of items to include in the annual report. Use this as guidance to write the annual report.

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