2022-08-31-accounts - South West Peninsula Methodist District

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			Page
Trustees Annual Report
Declarations			13
Independent	Examiner's	Report	14
Statement of	Financial Activities
Balance Sheet
Notes tothe Accounts			18

Our General Fund reserves	are as follows:	202	22
Total General Fund value		716,792
Less Funds not freely available
Land and Buildings	held for District use	~575	000

					sulu:rsl Fund	mdradnausaas Fund Iuatusuaudt	Daslasated Fuels Iunreetrialadl	Daslasated Fuels Iunreetrialadl	aeslltatlld Funds I eelrlalete		rua usus/x1
Income from:
Donabone and iegsues					4,348			800	22,403	27,611	se,ese
Charitsbu activities
Investmants					1,246	2,049			120	3,416	1,774
Other
Assesemenls on Chcults					06,237					06,237.
From Cl/cult Model	Trust		Funds			243,054				243,064	100,973
Conblbutlon to the coal oftru Chair					42,740					42,740	42,152
Conblbutlohs to other		smf costs
Grants fmm Connsxlonel			Funds
06IN Inco/tls				5	S.034						2,400
					148.805	245,713		800	22,603415701		$69,110
Expenditure
Grants and dona0ons					4,536	31,000	19,250		5,927	BD,712	5,120
genie'end essousud	costa				90,816		6D,B/2		28,105	179,852	t55,240
Props/ty					6,876		14,038			20,513	10,761
Office expanses					5,550				1ss	s,red	d,eee
Synods, meeangs and Confemnce					0,488					0,468	3,22e
Other outgoings
Travel expenses					4,762				6,588	la,sso	9.608
Depredation
Ecumenical contribuaons					4,056					4,050	S,658
Training and 6upervislon
Professional and Administration fade					7,186		2,84D		9,293	10,977	te,cre
Other costs					6066				dee	r seo	1.198
Total Expenditure					130118	31,8m	97,400		48plee	mapnc	205790
Net income/(expenditure) and losses on Investmenla		before aalns			18,488	2134I54	(98,800)		(27prrt)	100,871	153t314
Gains/(Lorses) on Investm		ant assets							1,064)	1664	16
Net income (expenditure)					tcdtss	2132I54	96,600		0,735)	99,D07	163,m9
Transfers between funds				10	(9,760)	(202,000)	106,750		25,000
Ol/Ier Gaine Or losses
Net movement Infunds					7$0				(3,735	ga,ser	tas caa
(heconcltlation offunds:
Total funds brought seward					716054	13375	203421		19S092	1,120543	973444
Total funds carried	forward				716.792	26220	S53,571		128sm	'I 225 660	1,12654$

			General	Dtstrst	Dtstrst	Designated	Restdoted
		Notes	Fund	Advance	Fund	FUads	Fund$	TOTAL	TOTAL
			unrestrtctad	Unrestricted		Unrsstdcted	Restricted	2021/22	2020f21
			2				2	6
Tangible Rued Assets
hlsnse			676,000					6762100	575,000
Investnlents		t2					15,018	16,016	la,a75
Total Fixed Assets			576WB				15,0ts	590,016	691,876
Current Assets
Deblcrs ana prspaymems		13						0	4,3SS
Cenlral Finance Board	and
Tntslees for uelhodlst	Church		57,755		88,229	353,671	114,941	614nt97	801,083
Purposes DeposBs
Cash at Bank snd in hand			107,971					taydtyt	14,D28
Total Current Assets			185,727		88/29	363,671	114,$41	722,468	519,447
Cunent Llabeltles
Credacrs and AUUIusls		14	23,935		37,000			60,936	60,581
(due in under 1 year)
Net Current Asssla			141,792		5142$	S53,571	114,841	S51,633	668.88S
Total Assets less Currant Liabgiges			716,792		51,229	S53,671	129,867	1,251,550	1,15D,542
Long term Llabgltles
Grants payshts					25,0DD			26,000	34,000
Net Assets			'716,782		26,229	363,671	12$,987	1,226,650	1,128,542
Funds ofthe Dlstrlct
General Fund			715,792					'716,792	716,055
Dlsbtctndvance Fund					25,229			26,220	13,375
Designated Funds						363,671		363,S71	283,421
Total unrestricted	funds		716,792		26,229	363,67'I		1,096,692	882,861
Restrlcled FUnds							129,957	12$,957	1S3,602
Grulcwmerd FUnds
TotalFunds			718,792		26vt29	353,671	129,957	1,226,660	1,120,543

Com arativeFi			ures
The financia statements			on pages		1617only show the					total	comparative			figures for2021.Toenable better
understanding ofthe	Districrs			financtal			reporting		the Statement			of Financial Activity and				Balance sheet for 2021
have been reproduced,			in full	below.
				Plymouth 8Exeter tytethodist							District
			Statement of Financial Activities (SOFAt
					Far	the year		ended 31st August			2021
						ress		Obm»navem		Fosse			S m»arena
					ols»		tears)			Olnasee»CI
Income fram:
COMOom eld Isosdm												2M	Sodsf		se,sss	I5,347
Chalhnn a»Mlh»
Inueebnenh									1,290						1,774	Q,OQ6
Assessments an CltouQS															00,220	oo,sse
From tzfmz Madel Tmsi Funda									IOD,973						100,073	165,120
Conbnusan» no co»orna		Cbdr					42,162								42.162	41.161
Conldbu$ons leather staff»mls
crania Som Connmuonel Funda
Othln Iflcaela
Talal						140,411			152,2M			200	05,100		36S,'lI9	$42,606
Expendkure
Gloats md dc»oil»Is									(13,500)		12,000			s,szs	s,tze	124,110
Salaries era a»casual caus							0'l,%2				35,040		27,708		155,240	ISOAOS
Flopeftr							5,207				0,654				ID,701	10,138
Oace »pauses							4,221					646		232	I,906	0,724
97nods. meatnos end Conference							512					105		4012	6,229	4,090
Other oulsalnoe
tlsvel mmmeeo							2,708					180		e,srs		13,503
Cep SSIOOOB
Ecumedcd aanhlbutlons							sztss									4IISO
Ttshuna snd Supe»lob»																3,100
Froh»slanal and Admlnlsuason		hes					4,084		638					5,305	10,078	3,799
Other coals														50S	I 190	9607
Tam)Expenditure						112725			12502		54	251	61 050		205757	22574$
Nmtnconmf(upend)urn) bafare slid losel» mf Mvealfnefds		seine					27,88$		1T6,126		(04091)			4Jics	15S,OI3	Itdt 3
salad(l»sees) on Inveslmenl Net fr»arne lexpenditwe)	assets						27,983176126				54	00'I		15) 4XSI	(216) 1M 910	106 14 10
Tmnsnrs bahvssn hnds				10		(11,890)			(173,MO)		159,750		24240
Other cdns orlossas
Nst movement in funds							16OOS		2'l20		'106749		25231		163058	1 018
Nscohc))lstion offundm
Total foods blouch llolweld						TDD,O01			11,2M		157072		104461		973444	959420
Total funds carried foraerd						710M4			1337S		2lm	1	133862		I 120642	973444

		Notes	General Fund Unrestricted	Dlstrlct Advance Fund Unrestricted	Dlstrlct Advance Fund Unrestricted	oesignsted Funds Unrestricted	Restncbrd Funds Restricted	TOTAL 2020/21	TOTAL 2010/20	TOTAL 2010/20
			2 '	f			2	6		2
Tangible Fixed Assets		11
			675,000				r	675,000		575,000
Invesbnenls		12					16576	16676		18,880
Total Fixed Assets			578,000				te,678	S91,878		591,89O
Current Assets
Debtors and Prepayments		13	4,286					4,368		0,075
Central Finance Board and Truslees for Methodist Church			125,324		96,375	263,348	117,016	601,083		557,62S
Purposes Depress
Cash at Bank and In hand			14,026					14,026		23,673
Total Current Assets			143,636		96,3TS	28S,421	117,016	61SA47		687,274
Current Lbdrtllges Creditors and Accruals			2,681		48,000			50,581		121,720
(due In under 1 year)
Net Currant Assets			141,066		47,376	283,421	117,018	568,087		485,554
Total Assets less Cunent			716,065		47,376	' 263,421	133,892	1,160,642	1,067,444
Liabilities
Long tenn Llabiliges
Grants payable					34,000			34,000		54,000
Net Assets			718,056		13,375	263,421	133,692	1,126,642		973,444
Funds ofthe District
General Fund			710,055					718,OSS		TOO,001
Dbrlncl Advence Fund					13,375			13,37S		11,250
Deslgnaled Funds		'I6				253,421		263,421		157,072
Total unrestricted	funds		716,055		13,375	283/t21		992851		868,983
Reslllcted FU/Kls		15					133,802	133,692		104,461
Endowment Funds
Total Funds			716,056		13,376	263,421	133,682	1,126,642	.	973,444

Ths District is made up	cfthe followi	ng Circuits:
Cirouit Name		Circuit No	Circuit Name		Circuit No
Plymouth and Devonport		24/Oi	Tiverton and Wellington		24/16
Plymouth Methodist	Mission	24/02	South Petherton	and Crewkerne	24/18
Exeter, Coast and Country		24/03	llfracombe and	Barnstaple	24/20
Tavistock		24/07	South Molton and Ringsash		24/22
Torbay		24/08	Torridge		24/23
South Devon		24/10	West Devon		24/24
Bude and Holsworthy		24/1 I	West Somerset		24/25
Taunton Deans and			Rlngsash		24/27
South Sedgemoor		24/15	Teignbridge		24/28

Grants and donatio table below,	ns	totalling	f60,712were	made	during the year (2020/21:	E5,128)as shown	in the
						2021/22	2020/21
Unrestricted:
- From DMTF			To Church	projects		4535	0
			To Circuit	projects		38250	39500
			Returned	unused	from projects	0	-53000
			To Circuits	for projects with other partners		12000	12000
Sobtotal						54785	-1500
Restricted:
-From Cuttack Appeal		Fund	To Church	ofNorth India		5177	6'I78
- From Emergency	Fund 1		To individuals			750	450
Sobtotal						5927	8628
Tl						60712	5128

Unrestricted
- District Evangelism Enabler									0		30000
-Seed Corn Project									0		20000
- Rural chaplaincy project									25000		25000
—New Places for New People									50000		50000
-Transforming conversations									90000		0
Total								165000			125000
The Rural Chaplaincy project is	under the oversight			ofthe DPC and		has been consolidated		into these		accounts.
The Grants Committee is aware	that Grant		applications		must demonstrate		public benefit.
The support costs for grant-making		to third	parties are not significant			and	so are not separately		disclosed.
Salaries and associated		costs
The salaries and associated costs		paid to our chair, two other full time and three part time						employees		over	he last
hvc years were as follows:
								2021/22			2020/21
Gross pay								121519			98544
Employer's pension contribution Employer's National Insurance	to defined contribution		contribubon		scheme				6113 8991		5913 8138
Apprenticeship levy									489		493
								137112			113088
Cost ofChair (see Note 4)									42740		42152
Tltffcosts									179852		155240

				2021/22	2020/21
Independent	Examiners fees for reporting		on the accounts	750	750
Other fees paid to the Independent		Examiner
Total amount	paid			750

	Manse	New Places for	DEE	Crfiiack	Cranbrook	Seed Corn	Total
		raw people .
From General Funds	9750			2000			11750
From/(To) DAF		50000	30000		48000	20000	148000	I
Total transferred	9750		30000	2000	48000	20000	159750	I

			Units	2021/22	202$21
	Trustees interest Fund			5501	5501
	CFBManaged Fixed Interest Fund		5251	9515	11175
	Total			15016	16676
	Income earned on Investments	for the year		120	125
	Change in the carrying value ofInvestments:			2021/22	2020/2021
	Carrying value brought forward			16876	16890
	Additions/ disposals and income less expenditure				0
	Unrealised net (loss) gain on revaluation			/1660	-214
	Carrying value carried forward	at 31August 2019		15O16	16876
13	Debtors and prepa ments
	Debtors were made up as follows:			2021/22	2020/21
	Assessments from Circuits				3314
	Other debtors				1044
	Total (net)			0	4358
14	Creditors and accrued expenses
	Amounts due in less than	12months		2021/22	2020/21
	Accrued Expenses			23935	2397
	Grants payable to third parties			37000	48000
	Oiher Creditors				184
				60935	50581
	Amounts due in more than 12months
	Grants payable to third parties			26000	34000

Funds in detail
	Opening Balance	Incoming Resources	Resources Expended	.Transfers 8 adjs	Closing Balance
Designated Funds
Mense Fund
Running costs, maintenance and repair ofthe District Manse	14363	800	-14638	9750	10275
Rural Chaplaincy Fund
Tc Fund the rural chaplaincy co-			0	25000	75000
ordinator project
OEEFund
Tofund the post of District	77004		-63512	-13492
Evangelism Enabler
Cuttack Fund
Tolacllitate the Cuttack Diocese	11000			0	11000
nsrlnershlc youth FulNf Ongoing support ofyouth work and	5054			0	4664
Cranbrook Project I V vuppUI I u m IUVul ul'Ull lul uusl project in the new Cranbrook		0	-'l2000	12000	36000
rnmm v
Seed Com Project
To support post Covid initiatives	20000	0	-6750	0	13250
New Places for New People
Tofacilitate bringing the Gospel of Christ toas many people as	50000		0	60000	100000
possible.
Transforming Conversations
To support the work the New			0	-103492	103492
Places for New People project
Total Designated Funds	263421	800	-97400	186750	353571

Restricted Funds
CCiC Fund
Support ofdevelopment ofCCiC protect		20717	0	-6110	0	14607
Cuftack Fund (restricted)
Tofacilitate the Cuttack Diocese		1828			0	1828
partnership
Cutfack Appeal
To support work ofCuttack Diocese
induding the Christian Hospital	at	40	12295	-5177	0	7158
Berhampur
Emergency Fund No 1
Benevolent fund for the benefit	of		055	-3990	67	10976
Emergency Fund No 2
Support ofthe widow ofRev I
Thompson. Income transferred	to EF	16674	120	-1712	-67	15016
No1 (see also note 12)
Extending Discipleship, Exploring		Vocation (EDEV)
To fund individual exploration	of
vocation and discipleship training of		13232			0	13232
ley people
Ministerial Training Fund
Tofund training and ongoing development ofordained ministers		9303
Rural Chaplaincy Fund
Rural chaplaincy project		57554	9613	-34330	25000	57837
Total Restricted Funds		133692	22563	-51319	25000	129957