Lincoln Circuit (17/2) Registered Charity No: 1134886 ## Lincoln Circuit Trustees’ Annual Report **Introduction** We are pleased to present the Trustees’ Annual Report for The Lincoln Circuit, which is part of the Methodist Church in Britain. As a Christian faith organisation, we respond to Jesus’s message of God’s love by living out our discipleship in worship and mission. The Lincoln Circuit embraces eighteen worshipping communities in churches across the Greater Lincoln area. Our role is to support these churches in their worship, mission and service. In addition, we reach beyond our own membership, proclaiming the gospel of Jesus in practical ways that serve the spiritual and physical well-being of people in our area and in the wider world. As trustees we take our responsibilities seriously and our hope is that the formality of this report is received as part of the creative narrative of our purposes being fulfilled. Revd Richard Mottershead _Superintendent Minister at the date of this report_ Richard Wills _Senior Circuit Steward_ ## **Aims and organisation for the Lincoln Circuit** The Methodist Church Purposes as defined in statute: _The Charity objective is to act as a Resource provider within the area around Lincoln for the Methodist Church, whose purposes are defined in The Methodist Church Act 1976. "_ _**4 Purposes.** 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;_ - _d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church.”_ These may include: - 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. **Our Vision** _(our intended destination_ ) is where we strive to be in the future. ## **We are a thriving part of the Methodist Movement, recognised for making the Jesus story relevant to 21st Century people by…** - **… supporting** our local churches in their worship, learning and mission. - **… connecting** churches that serve their local communities. - **… advocating** for social justice in our local communities. - **… encouraging** individuals to address their spiritual well-being. **Our Mission** is the route map that describes what we do to achieve our purpose and vision. We represent the Methodist Church in the Greater Lincoln area, connecting churches, communities and individuals. We are active within and beyond our churches: supporting; serving; sharing. - We are active in our communities as a Circuit and in partnership with other organisations: - tackling social injustice and advocating for people unable to do so for themselves. - serving communities through projects; - sharing resources with other organisations that have the same objectives. - We serve and welcome people where they are, in person and by developing use of social media: - supporting people to explore their spirituality through social media and in person; - serving the needs of individuals; - sharing our stories of faith. - We support our local churches in their work: - providing expertise and pastoral support through various ministries; - encouraging whole life discipleship through A Methodist Way of Life; - sharing resources. - We will respond to the climate emergency and undertake to improve the way we are using the planet’s finite resources. In practical terms, these objectives translate to many practical activities: - Weekly worship in 18 churches provided by a network of preachers, worship leaders and ordained ministers. - Activities that are directly provided by our church volunteers: - Fellowship groups - Luncheon clubs - Coffee mornings - Food bank distribution centres - Community Larder Distribution centre - A branch of Christians Against Poverty (CAP) - Hosting of “Night Light” cafes - Our premises are used by other organisations who have similar aims to ourselves in meeting community needs eg pre-schools - Worship support in Stones Place, a care home run by MHA 2 ## **Brief financial review of the year 2022-23** One of the ways we resource our mission is through finance and property. We recognise that: - We have a lot of our capital tied up in buildings. We need to have wise stewardship of what we have inherited. Getting the best return may be financial or missional outcomes. - Revenue will be through the generosity of our people or from investments or income earning enterprises. The membership of the church has reduced in the immediate aftermath of the Covid 19 pandemic. However, the needs to be met in our churches and communities are at least as great as they have ever been. ## INCOME TRENDS: Historically, our revenue expenditure has been met through the generous giving of its congregations. However, as membership and attendance at worship services has reduced then so has the total income received through our churches. Each church is obliged to pay the assessment determined by the Circuit Meeting and this is the first call on any church’s funds. The Circuit trustees recognise that local churches are struggling with increased costs and reduced incomes. The Circuit Meeting thus decided to set a budget that required to be funded by assessments and the withdrawal from its own reserves. ## EXPENDITURE TRENDS: - Expenditure is rising with inflation on pay for lay employees and prices. - Expenditure for the year was kept within budget guidelines, which was no mean feat considering the shortfall expected from assessment under offers. - Stipend expenditure has increased each budget year in line with conference approved increases. - Twenty Three percent of expenditure is the circuit contribution to the District and Connexion, of which a significant part funds the work of the wider Methodist Church. - We have some one-off expenditure as a result of the movement of ministers (removal costs and upgrading manses prior to occupation) - The circuit continues to support various project work of the Heath Pioneer with a £3k grant, CAP through a £3.5k grant annually. In setting the revenue budget for the 2022-23 year, we accepted that we would need to use our reserves if we were to achieve our objectives. The Lincoln Circuit took a courageous decision to work towards its vision by enhancing its ministerial team for the 2023-24 church year. We took steps to replace the superintendent minister, who is retiring, and to appoint a full-time deacon when a part-time presbyter retired. 3 ## FINANCIAL SUMMARY Income from assessments: Actual £ [Budget £] 286,318 311,074 (Unfortunately, Church Assessment offers did not meet the budget needs, a shortfall was registered) Use of reserves: Bequests: £327k Expenditure: Actual £ [Budget £] 339,874 330,514 (The budget did not allocate funds for 2 manse refurbishments) Considering the shortfall expected the Balances: - The net current assets of the circuit are £704k (General A/C £176k, CFB £67k Model Trust £721k). - Funds have been designated for circuit/church projects (£75k) and various internal and external missional projects (restrictions apply). - There are adequate reserves to cover six months of expenditure as part of the circuit reserves policy. - The circuit also has six properties in its portfolio, which are manses for the ministers. ## **Plans for 2023/24** Circuit financial plans for the coming year have been prepared on the basis that there remains 5 ordained staff [4.4 fte] and two active supernumerary ministers. There are anticipated cost of living stipend increases combined with an increase in the assessment paid to the district such that on average 9% assessment increase has been requested from the circuit churches. The Circuit Meeting decided that churches still had difficulties in their finances and that it would fund part of the expenditure from reserves. ## RESERVES POLICY: The Reserves Policy for the Circuit is to hold approximately one quarter’s 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 the failure of churches to meet their quarterly assessment liabilities in full. ## **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). 4 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. - We recognise that good governance is one of the resources underpinning effective mission: - Within the framework of the Church’s Constitution, Practice and Discipline (CPD) we need local models of trusteeship and governance that work for our situation. - We need to be agile and responsive, while exercising probity and good risk management. The most important resource for our mission is our people in ministry. We recognise that: - Ministry takes many forms: ordained and lay; paid and volunteer; - full-time and part-time; circuit and local. - Our ministries must be supported through learning, mentoring and encouragement, as well as funding. Leadership and management is undertaken by our Leadership Team: CIRCUIT MINISTERS AND OFFICERS: - Revd Alan Swann (Superintendent until 31 August 2023) - Revd Richard Mottershead (Superintendent) (from 1 September 2023) - Revd David Lawton (until 21 August 2023) - Revd Jennifer Matthews - Revd Canon Alan Robson - Revd Juliet Wriglesworth - Deacon Helen Gardner (from 1 September 2023) - Revd Margaret Doughty (Active Supernumerary) - Revd Dr Terry Nowell (Active Supernumerary) - CIRCUIT STEWARDS: - Miss Eleanor Downie - Miss Sheila Downie - Mr Alan Measures (Finance) - Mr Richard Wills (Senior) Supported by ADMINISTRATORS: - Mrs Catherine Ridley (from 23 January 2023) - Mrs Denise Allitt ## **Basis of preparation and legal framework** The Charity’s annual report and accounts for the year ended 31 August 2023 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 |FULL NAME OF CHARITY:|Lincoln Methodist Circuit| |---|---| |REGISTRATION CHARITY NUMBER:|1134886| |DATE OF REGISTRATION:|12 March 2010| |MAIN COMMUNICATION ADDRESS:|Circuit Office| 5 Burton Road Methodist Church 175 Burton Road, LINCOLN LN1 3LT The members of the Circuit meeting are the Managing Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches. A full list of Trustees is shown in Appendix A to this Report. Mr Alan Measures acted as the principal officer overseeing the day-to-day financial management and accounting for the circuit during the year. INDEPENDENT EXAMINER: Keith May Accounting Services Ltd Aura Business Centre, Heath Road, Skegness PE25 3SJ INVESTMENT BANKERS: Central Finance Board of the Methodist Church (CFB) 9 Bonhill street, London EC2A 4PE Trustees for Methodist Church Purposes (TMCP) Central building, Oldham Street, Manchester M1 1JQ **BANKERS:** Lloyds Bank PLC PO Box 1000, High Street, Lincoln BX1 1LT ## **Public Benefit** We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit. ## **Trustee Training** A range of guidance is produced by Methodist Connexion to support the effective running of the Circuit, including the leaflet ‘The Role of a Trustee in The Methodist Church’. ## **Related parties:** The Circuit is part of the Lincolnshire District and is also accountable to the Methodist Conference. 18 Churches are linked to the Circuit and are listed in Appendix B to this Report. ## **Risk management:** Major risks, both physical and financial, are identified and recorded and professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and Expenditure is monitored in total and is compared with the approved annual budget 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 recreation 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. 6 Methodist Connexional practice outlines commitment to the following principles: - the care and nurture of, and respectful pastoral ministry with, all children, young people and adults - the safeguarding and protection of all children, young people and adults when they are vulnerable - the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse. - We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes. - We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation. - We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care. - We will seek to challenge any abuse of power, especially by anyone in a position of trust. - We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult. - In all these principles we will follow legislation, guidance and recognised good practice. The Lincoln Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches. The Lincoln Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable. 7 ## **APPENDIX A** ## **LIST OF TRUSTEES:** |**LIST OF TRUSTEES:**||| |---|---|---| |Circuit|Revd Alan Swann|Superintendent for the year 2022-23| ||Revd Margaret Doughty|Presbyter| ||Revd David Lawton|Presbyter| ||Revd Jennifer Matthews|Presbyter| ||Revd Canon Alan Robson|Presbyter| ||Revd Juliet Wriglesworth|Presbyter| ||Miss Eleanor Downie|Circuit Steward| ||Miss Sheila Downie|Circuit Steward| ||Mr Alan Measures|Finance/Safeguarding/LP Sec| ||Mr Richard Wills|Circuit Steward Lead| ||Mrs Catherine Ridley|Circuit Administrator| ||Mrs Sylvia Curry|Methodist Women in Britain| ||Mrs Rae Perkins|MHA| |Bailgate|Mr Scott Prentice|Steward| ||Mr Chris Matthews|Steward| ||Mrs Laura Barker-
Jorgensen|Member| |Burton Road|Mr Geoff Gilbert|Treasurer| ||Mrs Helen Sheehan|Member| ||Mr Mark Thompson|Steward| ||Mrs Wendy Thompson|Senior Steward| |Central|Mr David Houtby|Treasurer| ||Mrs Margaret Houtby|Senior Steward| ||Mrs Kathy Rushton|Member| |Cherry Willingham|Mrs Jenny Robinson|Steward| ||Mr Roger Smith|Treasurer/Connexional treasurer| |Monks Road|Mr David Brown|Treasurer| ||Mr Jonathan Nowell|Member| ||Revd Dr Terry Nowell|Supernumerary Minister| ||Mrs Lorraine Osgodby|Senior Steward| |Moorland Park|Mrs Brenda Walters|Member| ||Mr Gordon Daws|Member| |Navenby|Mr Trevor Sissons|Steward| |Nettleham|Mr Chris Rogalski|Treasurer| ||Mr Marcus Harborne|CAP| ||Mr David Vincent|Member| |North Hykeham|Mrs Barbara Abbott|Senior Steward| ||Mrs Barbara Norman|Treasurer| |Reepham|Mrs Jill Singleton|Treasurer| ||Dr Roy Jackson|Steward| |Skellingthorpe|Mrs Pat Bishop|Steward| ||Mrs Pat Robinson|Steward| ||Mr Ivor McNish|Treasurer| 8 |St Columba's|Mrs Trish Kirk|Member| |---|---|---| ||Mrs Nicole Bond|Church Secretary| |St Giles|Mrs Anne Beckett|Treasurer| ||Mrs Barbara Hutchinson|Member| ||Mr Peter Sherlock|Senior Steward| |Swallowbeck|Mrs Beryl Faulkner|Steward| ||Mrs Jackie Isherwood|Church Secretary| ||Mr Keith Woolhouse|Treasurer| |Washingborough|Mr Keith Swann|Steward| ||Mrs Carolyn Swann|Treasurer| ||Mrs Lesley Tyreman|Steward| |Welton & Dunholme|Mrs Elaine Johnson|Senior Steward| ||Mr John Ryland|Member| ||Mr David Wilson|Treasurer| 9 ## **APPENDIX B** ## **LIST OF CHURCHES IN THE CIRCUIT:** 1. Bailgate Methodist Church 2. Burton Road Methodist Church 3. Central Methodist Church 4. Cherry Willingham Methodist Church 5. Monks Road Methodist Church 6. Moorland Park Methodist Church 7. Navenby Methodist Church 8. Nettleham Methodist Church 9. North Hykeham Methodist Church 10. Reepham Methodist Church 11. Scothern Methodist Church 12. Skellingthorpe Methodist Church 13. St Columbas (LEP – Anglican/URC), Brant Road 14. St Giles Methodist Church 15. St Michael and all Angels (LEP – Anglican), Thorpe on the Hill 16. Swallowbeck Methodist Church 17. Washingborough Methodist Church 18. Welton and Dunholme Methodist Church (Associated Class – Ingham) ## **APPROVED by the circuit trustees at their meeting on Wednesday, 7[th] February 2024** …………………………………………………. (signed) …………………………………………………. (signed) Revd Richard Mottershead Mr Richard Wills Superintendent Minister Lead Circuit Steward 10 **Circuit Accruals Accounts 2020-21** ## **THE METHODIST CHURCH** **REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2023 LINCOLN Circuit Registered Charity - Registration number 1134886** Lincolnshire **Circuit No 17/2 Ministers** Revd Alan Swann Revd Canon Alan Robson Revd David Lawton Revd Margaret Doughty Revd Jennifer Matthews Revd Juliet Wriglesworth ~~E~~ **Circuit Stewards** Mr Richard Wills Miss Eleanor Downie Miss Sheila Downie **Circuit Treasurer** Mr Alan Measures Lincoln Circuit No **17/2** ## Name of Circuit ## **Statement of Financial Activities (SOFA) for the year ended 31 August 2023** ||**Notes to**||**Circuit Model**|**Designated**|||| |---|---|---|---|---|---|---|---| ||**the**|**General Fund**|**Trust**|**Funds**|**Restricted**|**Endowment**|**Total**| ||**accounts**|
**(Unrestricted)**|**(Unrestricted)**|**(Unrestricted)**|**Funds**|**Funds**|**2022-23**| |||£|£|£|£|£|£| |**Income**|||||||| |1 Donations and legacies|4|2,164|||320,400||**322,564**| |2 Income from monetary investments|
5|4,687|12,407|240|7,524||**24,858**| |3 Income from investment properties|3|13,923|||||**13,923**| |4 Assessments on Churches||286,319|||||**286,319**| |5 Capital Receipts|6||||||**0**| |6 Grants received|||||||**0**| |7 Other charitable income|7|1,602|||||**1,602**| |8**Total income**||**308,694**|**12,407**|**240**|**327,924**|**0**|**649,265**| |**Expenditure**|||||||| |9 Grants and donations||10,310|24,300|6,486|||**41,096**| |10 Salaries and associated costs|10|167,678|||||**167,678**| |11 Property maintenance||29,877|||||**29,877**| |12 Connexional assessment & levy on|sales|60,400|||||**60,400**| |13 District Assessment & Model Trust levy||18,400|23,532||||**41,932**| |14 Depreciation|||||||**0**| |15 Office expenses||28,492||21|||**28,513**| |16 Other outgoings||24,718|1,227||||**25,945**| |17**Total charitable expenditure**||**339,874**|**49,059**|**6,508**|**0**|**0**|**395,441**| |18 Gains/(losses) on monetary investments|||(342)||||(342)| |19 Gains/(losses) on investment properties|||||||0| |20**Net income/(expenditure)**||**(31,181)**|**(36,994)**|**(6,268)**|**327,924**|**0**|**253,481**| |21 Transfers between funds||24,300||(24,300)|||0| |22 Other gains/(losses)|||||||0| |23**Net movement in funds**||**(6,881)**|**(36,994)**|**(30,568)**|**327,924**|**0**|**253,481**| |24 Total funds brought forward||1,866,258|430,432|186,770|2,676||2,486,136| |25 Total funds carried forward||**1,859,377**|**393,438**|**156,203**|**330,600**|**0**|**2,739,617**| Name of Circuit Lincoln Circuit No **17/2** ## **Statement of Financial Activities (SOFA) for the year ended 31 August 2022** ||**Notes to**||**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|3,963|||977||4,940| |2 Income from monetary investments|5|365|2,448|35|3||**2,851**| |3 Income from investment properties|3|12,204|||||**12,204**| |4 Assessments on Churches||234,819|||||**234,819**| |5 Capital Receipts|6|(425,000)|586,624||||**161,624**| |6 Grants received|||||8,000||**8,000**| |7 Other charitable income|7|2,172|||||**2,172**| |8**Total income**||**(171,477)**|**589,072**|**35**|**8,980**|**0**|**426,610**| |**Expenditure**|||||||| |9 Grants and donations||1,819|226,030|4,020|0||**231,868**| |10 Salaries and associated costs|10|169,870|0|0|27,073||**196,942**| |11 Property maintenance||31,893|0|0|0||**31,893**| |12 Connexional assessment & levy on sales||58,820|186,649|0|0||**245,469**| |13 District Assessment & Model Trust levy||18,400|20,690|0|0||**39,090**| |14 Depreciation||0|0|0|0||**0**| |15 Office expenses||28,919|0|21|2,289||**31,229**| |16 Other outgoings||27,415|1,119|0|0||**28,534**| |17**Total charitable expenditure**||**337,136**|**434,488**|**4,041**|**29,362**|**0**|**805,026**| |18 Gains/(losses) on monetary investments|||(540)||||(540)| |19 Gains/(losses) on investment properties|||||||0| |20**Net income/(expenditure)**||**(508,612)**|**154,044**|**(4,006)**|**(20,382)**|**0**|**(378,956)**| |21 Transfers between funds||116,143|(116,143)|(21,362)|21,362||0| |22 Other gains/(losses)|||||||0| |23**Net movement in funds**||**(392,469)**|**37,901**|**(25,368)**|**980**|**0**|**(378,956)**| |24 Total funds brought forward||2,258,727|392,531|212,138|1,696||2,865,092| |25 Total funds carried forward||**1,866,258**|**430,432**|**186,770**|**2,676**|**0**|**2,486,136**| **Circuit No 17/2** ## Name of Circuit ## Lincoln ## **Balance Sheet as at 31 August 2023** |**Notes to the**
**Accounts**
**Fixed Assets**|**Notes to the**
**Accounts**
**Fixed Assets**|£
**General Fund**
**(Unrestricted)**|£
**Circuit Model**
**Trusts**
**(Unrestricted)**|£
**Designated**
**Funds**
**(Unrestricted)**|£
**Restricted**
**Funds**|£
**Endowment**
**Funds**|**Totals 2023**
£| |---|---|---|---|---|---|---|---| ||||||||| |Circuit Properties|11|1,691,551|||||1,691,551| |Investmentproperties||||||0|| |Investments|12||7,718||||7,718| |**_Total fixed assets_**||**1,691,551**|**7,718**|**0**|**0**|**0**|**1,699,269**| ## **Current Assets** |**Current Assets**|||||||| |---|---|---|---|---|---|---|---| |Debtors|13|17,825|||||17,825| |Loans bythe Circuit|16|142,794|||||142,794| |Trustee Investment Fund at TMCP|||385,720|7,697|327,524||720,940| |Central Finance Board Deposits||-43,650||110,340|0||66,689| |Cash at Bank and in hand|13|122,702||38,166|15,576||176,444| |**_Total current assets_**||**239,671**|**385,720**|**156,203**|**343,100**|**0**|**1,124,693**| |**Current liabilities**|||||||| |Creditors (due in under 1 year)|14|71,845|||||71,845| |Grantspayable within 2022-23|||||||0| |**_Total current liabilities_**||**71,845**|**0**|**0**||**0**|**71,845**| |**_Net current assets/liabilities_**||**167,826**|**385,720**|**156,203**|**343,100**|**0**|**1,052,848**| ||||||||| |**_Total assets less current liabilities_**||**1,859,377**|**393,438**|**156,203**|**343,100**|**0**|**2,752,117**| |Long term liabilites
(due afer more than one year)|||||||| |---|---|---|---|---|---|---|---| |Grantspayable after 2022-23|||||6,500||**6,500**| |Loans to the Circuit|||||6,000||**6,000**| ||||||||**0**| |**_Net assets_**||**1,859,377**|**393,438**|**156,203**|**330,600**|**0**|**2,739,617**| ## **Funds of the Circuit** |**Funds of the Circuit**|||||||| |---|---|---|---|---|---|---|---| |General Fund(Unrestricted)||1,859,377|393,438
156,203
**330,600**
**0**||||**1,859,377**| |Circuit Model Trust Fund (Unrestricted)|||393,438|156,203|||**549,641**| |**_Total Unrestricted Funds_**|||||||**2,409,018**| |Restricted Funds|||||**330,600**||**330,600**| |Endowment Funds||||||**0**|**0**| |**_Total Funds_**||**1,859,377**|**393,438**|**156,203**|**330,600**|**0**|**2,739,617**| Signed Circuit Treasurer Name of Circuit **Circuit No 17/2** ## Lincoln ## **Balance Sheet as at 31 August 2022** |**Notes to the**
**Accounts**
**Fixed Assets**|**Notes to the**
**Accounts**
**Fixed Assets**|£
**General Fund**
**(Unrestricted)**|£
**Circuit Model**
**Trusts**
**(Unrestricted)**|£
**Designated**
**Funds**
**(Unrestricted)**|£
**Restricted**
**Funds**|£
**Endowment**
**Funds**| |---|---|---|---|---|---|---| |||||||| |Circuit Properties|11|1,691,551||||| |Investmentproperties||||||| |Investments|12||8,060|||| |**_Total fixed assets_**||**1,691,551**|**8,060**|**0**|**0**|**0**| |**Current Assets**||||||| |Debtors|13|14,915||||| |Loans bythe Circuit|16|142,794||||| |Trustee Investment Fund at TMCP|||422,372|7,478||| |Central Finance Board Deposits||30,638||134,640|672|| |Cash at Bank and in hand|13|45,079||44,653|21,004|| |**_Total current assets_**||**233,426**|**422,372**|**186,770**|**21,676**|**0**| |**Current liabilities**||||||| |Creditors (due in under 1 year)|14|58,719||||| |Grantspayable within 2022-23|||||6,500|| |**_Total current liabilities_**||**58,719**|**0**|**0**|**6,500**|**0**| |**_Net current assets/liabilities_**||**174,707**|**422,372**|**186,770**|**15,176**|**0**| |||||||| |**_Total assets less current liabilities_**||**1,866,258**|**430,432**|**186,770**|**15,176**|**0**| |||||||| |Long term liabilites
(due afer more than one year)||||||| |Grantspayable after 2022-23|||||12,500|| |Loans to the Circuit||||||| |||||||| |**_Net assets_**||**1,866,258**|**430,432**|**186,770**|**2,676**|**0**| ## **Funds of the Circuit** |**Funds of the Circuit**||||||| |---|---|---|---|---|---|---| |General Fund(Unrestricted)||1,866,258|430,432
186,770
**2,676**
**0**|||| |Circuit Model Trust Fund (Unrestricted)|||430,432|186,770||| |**_Total Unrestricted Funds_**||||||| |Restricted Funds|||||**2,676**|| |Endowment Funds||||||**0**| |**_Total Funds_**||**1,866,258**|**430,432**|**186,770**|**2,676**|**0**| Signed Circuit Treasurer **Totals 2022** £ 1,691,551 0 8,060 **1,699,611** 14,915 142,794 429,850 165,949 110,735 **864,244** 58,719 6,500 **65,219 799,025** **2,498,636** **12,500 0 0 2,486,136** **1,866,258 617,203 2,483,460 2,676 0 2,486,136** Notes to the Accounts Lincoln Circuit 1 Basis of accountng 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 the Financial Reporting Standard for Smaller Entities applicable in the UK (effective from 1 January 2015) – the Charities SORP (FRSSE) – in replacement for the SORP’s 2005 version specified in its related 2008 Regulations and in accordance with the ‘true and fair override’ provision contained therein. ## 2 Funds The funds held include General Funds held for any purpose of the Circuit which are Unrestricted, the Circuit Model Trust Fund which has wide purposes defined in Standing Orders and is categorised as Unrestricted, Designated Funds which have been set aside for particular purposes but are still Unrestricted, Restricted funds which are held for a narrower purpose and are listed in the final Note below and Endowment funds which are also listed in that Note. Any funds may be represented by more than just cash. ## 3 Accountng 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. ## Income Recogniton 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 expense to which it refers. ## Tangible fxed assets for use by the Circuit These are capitalised if their anticipated reliable life is more than one year, and individually cost at least £2,000. The freehold properties are shown in the accounts at 2015 deemed values or at cost if purchased after 2015 , of which the land component in the opinion of the Trustees is £355,309. No depreciation is provided on any of the buildings because the trustees consider their current residual fair value (on the assumption that they had reached the end of their useful economic lives 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. ## Investment Propertes There is one surplus property, a manse, which is rented to provide income to the circuit. It is not held for investment potential. The surplus manse is included in Freehold Property in Note 8. The income is described in the SOFA as "income from Investment Properties" as a means of highlighting the materiality of the income. ## 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. ## Debtors and Prepayments Debtors relate to the payment of the September stipends in August, a cost paid in advance of the service to be received. ## Creditors Creditors relate to the receipt of money for Church Assessments due for September. ## Impact of Accountng changes Due to an error, the Grants paid out in the year to 31st August 2022 were overstated as they included an amount paid as a loan to one of the churches. This amount, £89,143, has been deducted from Grants paid as shown in the 2022 SOFA and has been added to Loans to Churches shown in the 2022 Balance Sheet. |4. Donatons and Legacies
Year to 31st August 2023
Donatons
Legacies
Year to 31st August 2022
Donatons
Legacies
5. Investment income
Year to 31st August 2023
Central Finance Board
TMCP
Other
Total
Year to 31st August 2022
Central Finance Board
TMCP
Other
Total
6. Capital Receipts
Sale of Property - Surplus Manses
7. Other Charitable Income
Donatons
Other|Unrestricted
Designated
£
£
£
2,164 - -
Circuit
Model
Trust Fund|Lincoln
Restricted Endowment
£
£
320,400 -|Circuit
Total
£
322,564
-| |---|---|---|---| ||2,164 -|320,400 -|322,564| ||3,963 - -|977|-
4,940
-| ||3,963 -|977 -|4,940| ||4,687
12,407 240|7,524
0|4,687
20,171
0| ||4,687 12,407 240|7,524 -|24,858| ||365
- 2,448 35|3
|-
367
2,483
-| ||365 2,448 35|3 -|2,851| ||Net of purchase cost|This year
£
0
1,602
1,602|Last year
£
161,624| ||||161,624| ||||2,172| ||||2,172| ## 8. Payment to Trustees With the exception of Stipends paid to ministers, no payments were made to trustees for additional services provided to the Circuit by agreement with the Circuit Meeting |services provided to the Circuit by agreement with the Circuit Meetng||| |---|---|---| |Number of trustees who were paid expenses
Nature of the expenses
Expense payments primarily relate to reimbursement for travel costs
Total Amount Paid
9. Fees for examinaton or audit of the accounts
10 Paid employees (including Ministers)
Stafcosts paid during the year were:
Gross wages, salaries and benefts in kind
Employer's Natonal Insurance Costs
Pension Costs
Total Staf Costs
Independent examiner’s or auditors' fees for reportng
on the accounts
Other fees (eg: advice, accountancy services) paid to the
independent examiner or auditor|This year
6
£
8,301
£
120
nil
£
132,608
24,965
10,105
167,678|Last year| |||9| |||£| |||10,852| |||£| |||480| |||nil| |||£| ||132,608|158,874| ||24,965|25,016| ||10,105|13,053| ||167,678|196,942| Average number of staff employed during the year were 6 9 Lincoln Circuit ## 11. Tangible Fixed Assets |11. Tangible Fixed Assets|Lincoln
Circuit|Lincoln
Circuit|Lincoln
Circuit|Lincoln
Circuit|Lincoln
Circuit| |---|---|---|---|---|---| |Cost or valuaton|Year to 31st August 2023||||| ||Residental Land
£|Other Land
£|Manses
£|Other builidngs
£|Total
£| |Balance brought forward|355,309|0|1,336,242|0|1,691,551| |Additons|||||0| ||||||0| ||||||0| |Revaluatons(+/-)|||||0| |Disposals(-)|||||0| |Transfers*(x/-)|||||0| |Balance carried forward|355,309|0|1,336,242|0|1,691,551| |Accumulated depreciaton
**Basis
** Rate|SL or RB
SL or RB
||||| |Balance brought forward|||||0| |Depreciaton charge foryear(-)|||||0| |Revaluatons(x/-)|||||0| |Disposals(-)|||||0| |Transfers*(x/-)|||||0| |Balance carried forwards|0|0|0|0|0| |Net book value|||||| |Brought forward|355,309|-|1,336,242|-|1,691,551| |Carried forward|355,309|-|1,336,242|-|1,691,551| Cost or valuation ||||||| |---|---|---|---|---|---| |Cost or valuaton|Year to 31st August 2022||||| ||Residental Land
£|Other Land
£|Manses
£|Other builidngs
£|Total
£| |Balance brought forward|430,309||1,686,242||2,116,551| |Additons|||||0| ||||||0| ||||||0| |Revaluatons(+/-)|||||0| |Disposals(-)|-75,000||-350,000||-425,000| |Transfers*(x/-)|||||0| |Balance carried forward|355,309|0|1,336,242|0|1,691,551| |Accumulated depreciaton
**Basis
** Rate|SL or RB
SL or RB
||||| |Balance brought forward|||||0| |Depreciaton charge foryear(-)|||||0| |Revaluatons(x/-)|||||0| |Disposals(-)|||||0| |Transfers*(x/-)|||||0| |Balance carried forwards|0|0|0|0|0| |Net book value|||||| |Brought forward|430,309|-|1,686,242|-|2,116,551| |Carried forward|355,309|-|1,336,242|-|1,691,551| Lincoln Circuit ## 12. Investments The funds that support the Circuit Model Trust Fund are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month. TMCP is the legal owner and Custodian Trustee of all Methodist 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. |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 actng under their directon,
the Managing Trustees comply with charity law and Methodist law and policy as
determined by the Methodist Conference.||| |---|---|---| ||This year
£
0
7,718

7,718
£
8,060
(342)
7,718
£
17,825
17,825
176,444
176,444
71,845
71,845|Last Year
£| |Investments listed on a recognised Stock Exchange|0|| |Investments held in common investment funds,|7,718|8,060| |Securites not listed on a recognised Stock Exchange||| |Other investments||| |Total|
7,718|8,060| |Change in investment values||£| |Carrying (market)value at beginningofyear|8,060|8,600| |Add:additons to investments at cost||0| |Less:disposals at carryingvalue||0| |Netgain/(loss)on revaluaton|(342)|(540)| |Carrying (market)value at end ofyear|7,718|8,060| |13. Analysis of current assets
Debtors and prepayments
Pre paid assessments
Accrued income
Other debtors
Total debtors and prepayments
Analysis of cash at bank
Bank balance held in Lloyds Bank Plc
Total Cash and Bank
14. Analysis of current liabilites and long term creditors
Trade Creditors
Other Creditors
Total Current Liabilites||£| |||| |||| |||14,915| |||14,915| |||| |||110,735| |||| |||110,735| |||| ||71,845|58,719| |||| ||71,845|58,719| ## 15. Capital Commitments and Contngent Liabilites At 31st August 2022 the Circuit has no capital commitments (2021:Nil). No Contingent liabilities were identified at 31st August 2022 (2021: None). ## 16. Loans A loan was made from the Circuit Model Trust Fund to Central Methodist Church to facilitate urgent repairs to both church towers. No date for repayment has been agreed. The Loan outstanding at 31st August 2023 was £53,651 (2021: £53,651) A loan was made to Nettleham Methodist Church for completion of refurbishment, repayable at £4k pa. The balance owing at 31st August 2023 was £89,143 (2022: £89,143) Lincoln Circuit 17. Detailed analysis of individual fund movements Unrestricted Funds Year ended 31st August 2023 |Fund Name||Opening
Balance|Income|Expenditure|Expenditure|Transfers|Closing Balance|Purpose of the fund
|Purpose of the fund
|Purpose of the fund
|Purpose of the fund
|Purpose of the fund
| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||£|£|£||£|£|||||| |Designated Funds||||||||||||| |Mission Fund||50,138|0|0||0|50,138|To serve the|needs of the|Circuit in Mi|ssion & Out|reach| |Mission Grants||44,653|0|6,486||0|38,166|To serve the|needs of the|Circuit in Mi|ssion & Out|reach| |EmergencyPropertyFund||84,502|0|0||(24,300)|60,202|To serve the|needs of the|Circuit and C|hurch Build|ings(contn| |Fire Risk Assessments||7,478|240|21||0|7,697|||||| |Totals||186,770|240|6,508||(24,300)|156,203|||||| |Restricted Funds||||||||||||| |Burton Road Bequest|||327,524|0||0|327,524|Bequest for u|se at Burton|Road Metho|dist Church|| |God Pod||2,676|400|0||0|3,076|God Pod Bus|Ministry|||| |CAP Grants||0|0|0||0|0|Christans Ag|ainst Poverty|||| |Totals||2,676|327,924|0||0|330,600|||||| |||||||||||||| |Endowment Name||How the capital is invested||||Current value of capital||Annual income||What the in|come was u|sed for| |||||||£||£||||| |||||||||||||| |||||||||||||| ||Totals|||||0||0||||| The reasons for the transfers between funds were as follows: Lincoln Circuit 17. Detailed analysis of individual fund movements Unrestricted Funds Year ended 31st August 2022 |Fund Name||Opening
Balance|Income|Expenditure|Expenditure|Transfers|Closing Balance|Purpose of the fund
|Purpose of the fund
|Purpose of the fund
|Purpose of the fund
|Purpose of the fund
| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||£|£|£||£|£|||||| |Designated Funds||||||||||||| |Mission Fund||71,499|0|0||(21,362)|50,138|To serve the|needs of the|Circuit in Mi|ssion & Out|reach| |Mission Grants||46,592|0|1,939||0|44,653|To serve the|needs of the|Circuit in Mi|ssion & Out|reach| |EmergencyPropertyFund||86,583|0|2,081||0|84,502|To serve the|needs of the|Circuit and C|hurch Build|ings(contn| |Fire Risk Assessments||7,464|35|21||0|7,478|To serve the|needs of the|Circuit in Mi|ssion & Out|reach| |Totals||212,138|35|4,041||(21,362)|186,770|||||| |Restricted Funds||||||||||||| |Eden Project||0|8,000|29,362||21,362|0|Message Trus|t - ceased 31|.8.22||| |God Pod||1,696|980|0||0|2,676|God Pod Bus|Ministry|||| |CAP Grants|||||||0|Christans Ag|ainst Poverty|||| |Totals||1,696|8,980|29,362||21,362|2,676|||||| |||||||||||||| |Endowment Name||How the capital is invested||||Current value of capital||Annual income||What the in|come was u|sed for| |||||||£||£||||| |||||||||||||| |||||||||||||| ||Totals|||||0||0||||| The reasons for the transfers between funds were as follows: ## **Lincoln Circuit DECLARATIONS** ## **Treasurer** I confirm that these accrual based accounts for the year ended 31 August 2023 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 Name Alan Measures Address 13 Bridge Place, Saxilby, Lincoln LN1 2QA ## **Presentation to the Circuit Meeting for approval.** I confirm that the annual report and accounts for the year ended 31 August 2023 were presented to the Circuit Trustees at their meeting on and were approved. Signature of the Chair of the meeting Name of the Chair of the meeting **Revd Richard Mottershead** Date ___________________________________________________________________________ ## **Independent Examiner’s Report to the Trustees of the** ## **Lincoln Circuit** ## **Responsibilities and basis of Report** I report to the trustees on my examination of the accounts of the Lincoln Circuit for the year ended 31 August 2023. 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. ## **Lincoln Circuit** ## **Basis of Independent Examiner’s Report** My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below. ## **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 (other than that disclosed below*) which give me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Act; or the accounts do not accord with the accounting records; or 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; or the trustees’ annual report is not consistent with the accounts 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/have not* 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 at the balance sheet date. _* Please delete as appropriate_ |Name
Signature|Keith May| |---|---| ||| ||| Relevant Professional qualification or body Address Date ## GUIDANCE NOTES There is an exemplar within the guidance notes produced by The South Bedfordshire Methodist Circuit. All the items included in the notes to the accounts for this Circuit may not be applicable to your Circuit. Please choose those that are applicable to you a your notes to the accounts. ## Important note: Comparatves for the summary of assets and liabilites of each category of fund of the charity and for the detail in the movements in material individual Therefore notes BS10 and BS11 need to be reproduced to cover the previous year (2015-2016). and produce I funds. ## 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. To be completed by Circuits with total income and endowments of more than £500,000 ## Name of Circuit ## **Circuit No** |Cash fow statement for the year ended 31 August 2018|||||| |---|---|---|---|---|---| |||2018||2017|| |Statement of cash fows|Note|£||£|| |Cash from operatng actvites|||||| |Net cash used in operatngactvites|||0||0| |Cash fows from investng actvites|||||| |Dividends,interest and rents from investments|||||| |Proceeds from the sale of property,plant and equipment|||||| |Purchase of property,plant and equipment|||||| |Purchase of intangible assets|||||| |Proceeds from the sale of investments|||||| |Purchase of investments|||||| |Other|||||| |Net cash provided by investng actvites|||0||0| |Cash fows from fnancing actvites|||||| |New borrowing|||||| |Repayments of borrowing|||||| |Net cash used in fnancing actvites|||0||0| |Change in cash and cash equivalents in the reportng period|||0||| |Cash and cash equivalents at the beginning of the reportng period|||0||| |Cash and cash equivalents at the end of the reportng period|||0||0| |||2017||2016|| |Reconciliaton of net income to net cash fow from operatngactvites||£||£|| |Net income for the reportng period ( as per statement of fnancial actvites)|||||| |Adjustments for:|||||| |Depreciaton and amortsaton charges|||||| |Proft on the sale of fxed assets|||||| |Loss on the sale of fxed assets|||||| |Gains on investments|||||| |Dividends, interest and rents from investments|||||| |Decrease/(increase) in stocks|||||| |(increase)/decrease in debtors|||||| |increase/(decrease) in creditors|||||| |Net cash used in operatng actvites|||0||0| |||2017||2016|| |Analysis of cash and cash equivalent||£||£|| |Cash in hand|||||| Short term deposit (less than 3 months) Total cash and cash equivalents 0 0 Ak Circuit A¢crualg Aeeounts 2022-23 THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2023 LINCOLN Circuit Règl8tered Charlty- Raglstration numbor 1134886 Lincolnshire Circuit No 1712 Mlnlstors Revd Alan Swann Re¥d Canon Alan Robson Revd David Lawton Ruvd Margaret Doughty Ravd Jennifer Matthews Rèvd Juliet Wriglesworth Clrcult St•ward8 Mr Richard Wi11s Miss Èleanor Downi8 Miss sneiia uownie ircuit Trea$ur•r Mr Alan Measures Name of Circuit Llncoln Circuit No 1712 Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Not•J to Clrcult Mod61 t)g¥lgnat¢d th9 G•n6ral Pund Tru*t Fund8 accounts IUnreslrtGtedl IUnr¢strlGtedl IUnrestrlGtsdl Re4tr1¢tod Endowm•nt T¢Aal Fund• Fund 2022-23 Income 1 Donations and legacies 2 Income from rnonetary irwesbnonts 3 Inr*)me Irom Investment properEt•s 4 A58essmonts Churches 5 Cawi81 Rgceipts 8 Grant¥ r¢Geived 7 Other charilabk inc 8 Totsl Incorne 2.184 4,687 13.923 286,319 320,400 7,524 922.184 24,858 13.923 286.319 12,407 240 1,802 308,694 1.802 849,265 12,407 327.924 Expondituro 9 Grants ond don8tions 10 Sai2ri8s and assocLqt8d o)sts iperty maintenance 12 Connex￿nal a$8essment 8 W on salo¥ 13 District Assessmenl & Model frust le 14 D8procialton 15 off￿ expens•$ 16 (Xher outgolngs 17 Total charftable •40ondlts*rn 18 Gainsiik)ssesi on monetsry Invesimvnt5 19 Gain￿[lo$Se￿I on investment propertiey 20 Net In¢omelltXPgndbturel 21 Tran•ferJ bolweon fund8 22 Oth8r galnslllos8881 23 Nèt movement In lunds 24 Total funds brought forward 25 Total fuwKls ¢attled forward 10,310 167,876 29,877 60,4(KI 18,400 24,3C 8,486 10 167,678 29,877 60,400 41.932 23.532 28,492 24,716 339,874 21 29,Si? 26,946 395.441 13421 1.227 49.059 13421 6.608 131,181) 136,994) 16.26B? 124.3001 327.924 253081 16,881} 1,866,258 1,859,377 136,994) 430,432 393.438 130,S681 186,770 156,203 327,924 2,676 330.6LW) 263,411 2,486.136 0 2,T39.617 Narne of CirGuil Clreuit No 1712 Balance Sheet as at 31 August 2023 G8n8ral Fund IUnrostri¢tg¢Jl Circuit Model Tru$tS IUnro8trlctodl e51gna Funds (Un￿*1r1ctQdl Restncted Funds Endowrn8nt Fund5 Totsls 2023 A¢count5 Flxed Assets ircuil Properties Investrnenl prOp8￿e8 Investments 1,691.551 1.691,5S1 12 7,710 7,718 7.718 1,699,269 rotal fixed assets 1,691,551 Curront Atssgts Debtors 17.825 142.794 17.825 142.794 720,940 66.689 176,444 1,124,69J Loans by the Circuit Tri4¢18@ Investment Fund al TMCP JI Fiiiaiice 8uthrd Depo¥its C8sh ai Bank and in harKI 16 38S,720 7,897 110.340 38.166 156,203 327,524 43,650 122,702 239,671 13 15.576 343,100 Total ¢urrent8ssets 385.720 Current liabilitie¥ c￿￿110r8 Idue in under 1 yearl Grants payable %*ilhin 2022-23 Tot•1 ¢urr•nt li¢tbi)iti Net current assets/liabilities 14 71.845 71,845 71.045 1fj7,826 71.845 1,052,848 385,720 156.203 343.100 Toial ass8is1056 cu￿nt liabilities 1,859,377 393,438 156,203 343,100 2,752,117 Long term liabllities Idue after more than one yearl Gr8nls payable atter 2022-23 Loans lo Ihe Circuil 6,500 6,000 6,500 6.000 Net 4ssets 1,8S9,377 393,438 156,203 330,600 2,739,617 Funds ol the Clrcult General Fund lUn￿$tricted) Circuit Model Trust Fund IUnre&triCtedl Total UnrgStrict¢dFunds Restricted Fund5 Endosvmenl Funds 1.859.377 1,859,377 S49,641 2,409,018 330,600 393.438 156,203 330.600 Tot41 1,859,ts77 393,438 1 S6,203 330,600 2,739,617 Signed Circuit Treasurer Notes to the Accounts Lincoln Circuit Basls of accountlll8 The flnancial 5t4tements have been prepared underthe Charltie5 Act 2011 In ac£ord¥nce wlth the 2014 verslon of Atcountin8 and Reportlll8 by Charities.. Statement of Retommended Prattice ISORPI applICab￿ to £harbties preparlt)8 thefjr accounis In accordaTrie with the Fln#ncl•l Reporting Stsnd¥rd for Smaller Entitles opplic#ble In the UK leffectfve from I January 20151-the Charit￿5 SORP IFRSSEI- in replacement for the 50RW$ 2005 versloTr specif￿d in its rdated 2008 Regulat￿>￿5 and In accordance with the'truE ond fa*r o¥erride' prLwisI0rt contalned therèln, Funds The funds held include General Funds held lor any purwse of the Clrculi which are Unre51trted, the arculi Model TN5t Fund which has wtde purposes defined In 5t3n¢lll8 Qrders ano 15 C3te8or15ed a5 UnTe51ricied, Des*8n4red Funds whkh have beet) set aslde for partKular wJrw)ses but are still Unrestricted, Restricted tunds which are held tol a narrowÈr purpose and are Ilsted In the final Note below ènd Endowment Funds which are B150 Ilsted In that Note. Any fund5 rn4Y be represented by rTrore than lust C35h. A¢eoyniln8 pollcles 3515 Th¢)¢ occounts hoye btett prepared on the ba￿ls d hi6tO¢i¢al ¢ost. •￿* th•ir mJvk•tvJlu# at the end of they¢¥r, ot) the accruals basis to show a true and fairvlew of the Clrcuifs flnèncl?I posrtion attivnies. ncorne Re¢o8nltlon 5ncome is tn¢luded In the Staten7ent of FlnaTrclal Anfvltles ISOFAI when the Clrcult becomes entitled to the resovrce5, and the trustees are reasonably cerr8ln they wlll recelve the r￿OUrceS., and the monEtary value can be measured wlth stsfflc*nt rell3bllty. esour¢es Expended This is reco8nised when a liability ￿ incurred, ora constructfve obligatlon arises, that re5uk5 in the payment belng un3voldable. Ll4bllitlES are recognlsed as soon ès an outtlow of economlc benefit 15 conS￿ere￿ more likety than not vnder the legal or constTUCtive obllgation committin8the Clrcult to pay out re50urces. rants Grants tnade by the CifCLFlt from ￿$ own fvjnds are reco8n15ed In full at the tlme of a8reernent or whtn the Cirtuit accepts that there Is a legal or opeTJtlonal obl*atlon to make the paytnent. When the Is recurrent over more than one ye?r the balantr payable in future yeats is treated a5 a provision for future iommiiments in the 6alèn¢e Sheet agalnsi the appropriate fund, the pro¥1510n belng re*asett In fviureyear5 as Insialmertis are palo In attordante Wnh rneoriwn31ty ag￿ed tÈmis. AT Slnceihe Urcult Is notVAT reglstered, all Inpur VAT Is charged wlth theexpen5e towhth It refer5. anglble fixed a55ets lor use by the Clrcult These are caplta115ed If thelrèniiclpated Yellable Ilfe Is more than one year, and indfvldually COSE al kast £2.(MXI. The freehokl Properties are shown In the accout)ts at 2015 deerned value5 OT at rost rf purchased after 2015. of whkh the land component in the opIn￿n of theTrustees is £355.309. No depreciatksn 15 provlded on anyof the buildinE5 because the tru5teesconsKlertheir current ressduai fair Value lon the a55umptlon that they had rea¢hed the end of thelr useful e¢onotnic li¥e5 by the year*ndl to be not less than its turrerrt value. Any depreclatlon would not be materlal. The propertles have been ￿v*We￿ for Impalrmetht. Invgstm•nt Prop•rtl•s The* is one surplu5 praperty, a rnanse. whkh Is reftted to provlde Income io the clrcuit. It Ls not held for Investment potential. The Surplus manse Is lthcluded in Freehold Property In NotE 8. The Incorne Is descrlbed In the SQFAas"Intorne from Invcstment Ptgpertie5' a5 a mean5 01 hLehli£htinE the rTraierkqlliV of Ihe Income. Investments Investment5 are valued In the balance sheet at market value at the year end. Investment Income15 Included in the accounts when Tecelvable a*d any galn5 or10sses om revalu3tion at the year end are shown the SOFA. Debtors and Prepayment5 Debtors relate to the paymefti of the kptemberstlpends In August. a tost paid Sn advante of the service to be reteived. Credltors eredltQfS tv the re(elpt of tnoney fvr UIuiLII Oue fof sepietntjer. Impact of Accountlng changes Due to an error, the Graots paid out in the year to 315t Ausyit 2gZZ were ovmtotcd a5 Ihey Inclu(kd an as è loan to une of the churches. Thls arnount, £89.143, has been deducied from Grattts pald as Sh¢Y￿ In Ihg 2021￿FA and has been added to Loans to Churches shown in the 2022 Balance Sheet. Llncoln Clrcuit Clrcult Model Trusi Fund Unres¢rfcted De518nated Restrkted Endowmènt 4. 1)onatlon$ Le8acles Y@ar to 31st Au8ts5t 2023 Donatlons Les•cte5 2,164 320,400 322364 2,164 Yearto 31stAuBUrt 2022 320,41XJ 322,S64 977 Legacies 4,940 3.963 977 5. Investment Incorne Year to 31stAwst 2023 Central Finance Board TMCP Other 4.687 12.407 240 7,524 20,171 4.69? 12,40? Y*ar to 31st Au¢ust 2022 Central Finante Board TW Other Totsl 7,524 24W8 365 367 2A83 2,448 35 365 35 2,851 6. Capknl ftocelpts Thls year Last year Sale of PTopeny- Surplus Manses Net of purchase cost 161,624 161,624 . 0thwc￿rft3bl* In¢ome Donations Other 1,002 1,602 1172 2.172 8. PawllenttoTrustses Wlth the exceptlon of Stlpend5 paid to rnln15ters, no payrnent5 were tnade totNJ$teeslor additlonal ser 'pri)vided to the Circuit by a8reement with the arcuit Meeting Th15 y4ar st y•ar Number of trustees who were palil expenses Nature Df the exDenses Expense payrnents prlrnarlly relate to reimbursement for travel cost5 Totjl Amo¢Jnt Pa¢d 8,301 10,852 9. Feesfor•xamlnatknn or audll of the acctyjnts Independent examinels or auditors, fe￿% for reporting on the atcounts Other fees leg.. advice. accountancy ser¥lcesl paidto the independent examiner or auditor 120 10 Paid •mptoyees Ilncludlng t*llnlstetsl Staff tosts paid dvrin8 the year wÈre'. (afOSS wages, saianès and D@neTItS ln Kind ErrtplDyer's National Insurance Costs PeDs40n Costs Total Staff Costs 132.bU8 24,965 10,105 167.678 L)8,874 25,016 14,053 196.942 AN*rage numbtf of staff emploved the year were Llncoln Circuit 11. TanBlble PSx¢d A¥3et> Cost or valuation Year to 31st August 2023 Other bullldng5 Total R•sid•ntial Land Other Land Manse5 Balance brought forward Additions 355,309 1,336,242 1,691,551 Revaluations1+1_I Disposals (- Ti"anJfcf3" Ba1on¢e carried forward Accumulated depreclatlon **8asls ' Rate 355,309 1,336,242 1,691,551 SLorRB 5LorRB Balance brought forward Depreciation charge for yearl-l aluations Ixl-l Disposa151-1 Transfer5. Ixl-l Balance carried forwards Net book value Brought forward Carried forward 355,309 355,309 1,336,242 1,336,242 1,691.551 1,691,551 C05t or valuation Year to 31st August 2022 Other bullldngs Total Resldentlal Land Other Land Manses Balance brought forward Additions 430,309 1,686,242 2,116,551 hEvaluations l+/-I Disposals l_l Transfers'lxl-l Balance carried forward -75,0(Xl -350.otyj 425,0(Kl 355,309 1,336.242 1,691,551 Accumulated depreciatlon •* Basls •* Rate SLorRB 5LorRB 8313nip bruughi furward Depreciation charge for yearl-l Revaluations Ix/-I Disposa151-1 Transfers. Ixl-l Bèlance carried forwards Net book value Brought forward Carried forward 430,309 355,309 1,686,242 1.336,242 2,116,551 1,691,551 Lincoln Circuit 12. Investments The funds that 5UPPOrt the Clrcuit Model Trust Fund arè hèld by TMCP in Trusteég Inteiest Funds on which interest 15 credited to tho accounts ea¢h month. TMCP 15 the legal ownerand Custodian Trustee of all Methodist Trust Property. includlng Lettacles. Endowmèntg and Aer.lJrniilat@d Funds. Trust property is hcld for and on behalf of local Managin8 Trustees who are re5ponslble for the day to day management of trust properry. TMCP ensure that. through providing guidance aftd actlng under their direction, the Mana8in8 Tntsstees comply with charlty law and MethDdi5t law and policy as dÈtermined by the Methodist Conference. Thls Y￿r Last Year Invesrment5 listed on a recognlsed Stock Exchange Investmènts held in common investment fund5, Securities Tr0¢ listed on a re¢ognised Stock Exthan8e other Investments 7.718 8,060 Total 7,718 8,￿0 Change In Investment ¥alu•s Carrylng Imarketl value at beginning of year Add.. addition5 to inv•stments at cost Less: disptssals at carrying value Net 8ain/l10551 on revaluation C)rrying Im>rk•tl value at ehd of ycar 13421 1,7111 15401 8.060 13. Analy515 of ¢urrent assets Debtors and prepayrnents Pre paid assessments Accrued income Other debrors Totsl debtors Ind prepayments 17.825 17,825 14,915 14,915 Analy51s of cash at bank Bank halance held in Uoyds Bank PIC 176,444 110,735 Totsl Cash and Bank 176.444 110.735 14. Analysis trf eurrllnt IlJbllltl@s and lone t•rm credlto Trade Creditor5 Other Credltors Tot•1 Curr¢nt Llttbilitie• 71.845 58,719 71.845 58.719 15. Capltal Commitments and C¢ntlngent Uabllltles At 315t Aulust 2022 the Circuit ha5 no capital commitrnènts12021..Nill. No Contingent liabilities were identrfied at 31st Au8USt 202212021.. None). 16. Loaiis A loan was made from the Circuit Model Trust Fund to Central Methodist Church to facilitate urgent repairs to both church towers. No date for repayment has been greed. The Loan outstanding at 31st August 2023 wa5 £53,65112021.. £53,651) A loan was made to Nettleham Methodist Church for completion of refurblshment. repayable at £4k pa. The balance owing at 31st August 2023 was £89,14312022: £89,1431 Llncoln Circuit L7. Oetailed anaEy$15 of SndivSdual fund movemehts JnrestrTCted Funds Jnrestricted Fund Name Year ended 31st Au8USt 2023 Openin8 Balance Income Exwdkure Tr?nslers Closlng Balance Pwpose of the fund Jeneral odel Trust )esign3ted 1,866,258 430,432 186,770 2,483,460 308,694 12,407 240 339,874 49,402 6,508 395,784 24,300 1,859577 393,438 156203 2,409,018 Day to day income and expenétture To serve the needs of the CircLilt in m￿sSIOn & OLtreach (See Below) 124,3001 Totals De5iEnated arxl Restrlrted Funds Fund Name Opening Balance 321,341 kncome Expenditure Transkrs Closing alance Purpose of the fund Deslgnated Funds ission Fund Vli5slon Grants mergency Property Fund rire Risk Assessments 50,138 44,653 84,502 7,478 186,770 50,138 38,166 60,202 7,697 156,203 To serve the needs of the Circuit in Mission & OLrtreach To serve the needs of the Circutt in Mission & OLJtieach To serve the needs of the Circuit and Church Bui klings Icontingencwl 6,486 124,3001 240 21 Totals 240 6,508 124,3001 Restrirted Funds 3urton Road Bequest Jod Pod -AP Grants 327,524 400 327,524 3,076 Bequest for use at Burton Road Methodist Churth God Pod Bus Ministry Christians Against PoknErtv 2,676 Totals 2,676 327,924 330,600 Endowment Narne How the tapitsl is Invested Current value of ￿pital Annual income What the income wa5 Used for Totals rhe reasons lor the transfers tetween funds were as follows- Lincoln Circuit 17. Qetailed analysis of indlvidu al fund movements Unre5trlcted Funds Unrestricted Fund Name Year onded 31st Auwst 2022 Openlng alan Income Expendlture Translers Closing Balance Purpose of the fund General Model Trust Des18nated 2,258,727 392,531 212,138 2,863,397 1171,4771 589,072 35 337,136 435,028 4,041 776,204 116,143 1116,1431 121,3621 (21,3621 1,866.258 430.432 186,770 2,483,460 Day to day income znd expenditure To serve the needs of Lhe Circuit in Mission & Outreach Isee Below) Totals Designated and Restrfrted Fun(is Fund Name Openir 8alan 417,630 Income Expenditure Transfers Closlng Balance Purpose cf the fund Designat￿ Funds Mission Fund 71,499 46.592 86,S83 7,464 212.L38 (21,3621 50,138 44,6S3 84,502 7,478 186,770 To serve the needs of the Circuit in Mission & Outreach To seNe the needs of the Circuit in Mission & Outreach To seNe the needs of the Circuit and Church Buildings Itontingencyl To se￿e the needs of the Circuit in Mission & Outreach Missior) Grants Emergency Property Fund Fire Risk Assessments 1,939 2.081 21 35 Totals 35 4,041 121,3621 Restrkted Funds Eden Project God Pod CAP Grants 29,362 21,362 Message Tru5t- ceased 31.8.22 GDd Pod Bus Ministry Christians Against Poverty 1.696 2,676 Totals 1,696 8.980 29,362 21.362 2,676 Endowment Name HIM the capltal Is Invested Current value of capltal Annual IFKome What the income was used for Totals The reasons for the transfers between funds were as follows: Lincoln CirGUit DECLARATIONS Tr8asurei I confirm that these accrual based accounts for the year ended 31 August 2023 have been prepared from the records of the Circuit and that t nclude all funds under the control of the Ciicuil Meeling. s￿nature of Trea8urer Date Name Alan Measures Addr&ss 13 Bfidge Place, Saxilby, knnGoln LN12QA Presentation to the Circuit Meeting for approval. I conflmi Ihai the annual report an(J aGGounls for the yoaf ended 31 Augu8t 2023 wgre PTe5ented to the Circuit Trustees at their meeting on and were approved. 24¢412¢ SMJnature of the ChaiT of the meeting Name of the Chair of the meetsng Revd Richard Motternhoad Date Independent Examiner's Report to the Trustees of the Lincoln Clrcuit Ro8ponsibilitle8 and ba819 of Report I report lo the ITusle88 on my examination of the accounts of the LinGoln Circuit for the year ende(J 31 August 2023. As the CirGUrt's Iruslees, you are responsible for the preparats'on of the accounts in accordan￿ with the requirernenls of the ChaTrties Act 2011 {'the Act'}. I report in respect of my examination of the Circuit's acGounts carried out under seclron 145 of the Act and, in carrying out my examination, I have foll(Med all the applicable Directions given by the Charity Commission under section 145{5llbl of the Act. Lincoln Circuit 8a818 of Indepgndant Examine￿$ Raport My examination was carried out accordan￿ with the general Directions given by the Charlty Commission An examination includes a rovigw of the accountsng records kept by the char(ty and a comparison of the account3 presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees COnGeming any such matter3. The Drocedures undertakp.n da ntit Drnvldg All thè that would bè required in an audit and consequently no opinion is given as to whelhei the accounts present a 'true and fair vievl, and the report is limited to those matters set out in the gtatement below. Indepondent Examinerfs Statsment I have completed my examination. I confirm that no material matters have come lo my attention in connection wth the examination I bolieve that in. any Mate￿31 Tespeci.. which give me cause to the accounting records wère not kèpt in a¢¢ordan(* with section 130 of the Act.. or tha gc¢ounte do not aeeord with the aeLounting records, or the accounts do not comply wlth the applicable requlrements cortceming the fomi and content of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any requirement that the accovnl$ give a 'true and fair, vlew, which 6$ not a matter considered as part of an Independent examination", or the trustee$, annu81 report is not consistent wtth the accounts I have no COn￿rn8 and have come across no other matters in conrtectson with the examination to which attention should be drawn in this report in order to •nabks a propor undorslanding of the accounts to be reached. I Prnyolhavo not. obtained independent verification of all investrnenls wllh the Trustee8 for Methodist Church Purposes OT held in other trusts, bank balan￿ and funds al the Central Finance Board of the Methodist Church al the balance sheet date. ' Ploase delet8 approprtats Nama Keith May Stgnaturo Relevant Professional qualrfication or b¢)dy Address 3 1 4¢1+ifv Date GUIDANCE NOTE5 There ts an exemplar wlthin the guSdanee notes produced by The South Bedfordshlre Methodist Circuit. All the items included in the notes tD the accounts for this Circult may not be applicable to your Clr¢uit. Please choose those that are appllcable your note5 to the accounts. Important note: Comparatives for the sumrnary of a55ets and liabilibes of each category of fund of the charity and f•r the detall In the movements ITr material in Therefore notes &SiO and BSII need to be reproduced to cover the previous year (2015-20161. GUIDANCE NOTES Please see sparate document 'SU8zested framework for Clrcult anmual report,. Thls shows example5 of Items to Include In the annual report. Use thls as Euldance to write the ￿nUal report.