Reu4ster•d Ch•rity Number. 1134891 BASINGSTOKE & READING METHODIST CIRCUIT ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 August 2020 BASINGSTOKE & READING METHODIST CIRCUIT Annual Report and Flnancial Statements For the year ended 31 August 2020 CONTENTS Pages Report of the Trustees Report of the Independenl Audltc4s Statement of Financtal Aclriities Year ended 31 August 2020 Year ended 31 August 2019 10 11 Balance Sheet 12 Cash flow 5tatsment 13 Notes forming part of the Finanaal Ststement5 14-23 Basingstoke & Readlng Methodlsl Circuit Southampton Dlstrl¢( ¢lr¢uit number 2614 Annual report for Ihe year ended 31" August 2020 REFEReNCE AND ADMINISTRATIVE D￿AlLs Tho Clrcult Basingsloke and Reading Methodist Circuit was forn￿ on 1 Sepiember 2014 as a result of the merger of Basingstoke Methodist Cituit and Reading & &lchesler Methodist Cir￿lL The Cwcuit is a separate legal entity within the Methodist Churth ar￿ is required under Charity law to prepare separnle accounts. The Circuit is a registered charity {EThJW & Waks) number 1134891. There are 23 churthe5 Within the Circuil with a total ￿MberShIP of 1,140. Thè churches are spread around Reading and BasingstrJke and the wghbouring towns aThJ villages of Bradfield. Burghfield Common, Mortimer. Tadley and &lchester. Several have I￿1 ecumenical partnerships vthh Anglican. Baptist andlor Uniled Refom*d chuffjhes. Trustees The Circuivs trustees. who are all mernbws ol the Circuil Meetwlg. are listed on page 2. Executlve and l•ad•rnhip functlons The Circuit Stewards Iwho are ex offKv) members of the CIT￿11 Meeting) are responsible for ensuring that the decisions of the Circuit Meeknw execuled. The folbwirKJ senrfed as Circuit Stewwds during the year.. Alan Hartand (also Circuit Treasurer) Margaret Hayes Julie Marsh Marianne Sales The Strategic Executwe Group (SEG) gives bnger-lerm vision to the Circuil's affairs and comprises mix of stipendiary and lay membefs of Ihe Cirwit Meeting. The following, who are a150 members of the Circuit Meets'ng. seNed on SEG this year. Reverends DavKI Shaw. Audrey Browne. Ruth Midcalf. Alison Parker and Deacon Maria Howard: three urrJJii stewards {Alan Hadand ex Off￿￿) Finance, Margaret Hayes and Marianne Sales); tsvo rewesenting local preachers and worship leader5 (June Hardcastl& and Paddy Jose)., and Mary Ludlow, representsng * empbyee5. Marion Young. who is also a member of the Circuit PAeeting, is seuetsry to SEG. Custodlan trust•ès The custodian Iru5tees are the Twstee5 fDr Methodist Church Purwses Conlactlng the Clrcult The Circuit's principal offtt is 84 Queen's Road, Reading RG148W, telephone 0118 958 1505. The Clrcuit's website is V*VM. in in Bankers The Circuit's banker5 are the Central Finance 8oard of the Methodist Church. 9 Bonhill StreeL London EC2A 4PE: and CAF Bank Lid. 25 Kings Hill Avenue. Vtht Malling, Kenl ME19 4JQ Auditor¥ and Professional advls•Ys The Circuil's auditot5 are Jar￿5 Cow Kreston. Reading Br*e House. George Street, Reading, RG18LS. The Circuit engages advisers ft)r legal affair5 and property seNtis as required. Baslngstoke & Reading Methodist Circuit Southampton Distric( clrcult number 2614 Annual rgport for the year ended 31" August 2020 Managlng trustees The managing trustees, who are all fflernb￿ ofthe Cirujit Me8tiThJ are as folk>V￿. Dr Stèphen AppHh Mts Diane Balh MTS Tessa Bennèll Rev Martin Beukes Mr Peter Boardley Mr Tony Bonneit Rev Audrey Browne Mrs Dusty Brough Mrs Patricia Brown Mrs Brenda Cabom Mr Ray Chalk Mr Peter Ch4wnan Rev Jonathon Clark Mr David Cliffe Mrs Jan Davies Rev Jènny Dowding Mrs Jill Draper Mrs Gerry Du9gan Mr5 Margaret Elison Mrs Christine Embelton Rev Chris Evans Rev Valerie Fisher Mr Kenneth FoTdiour Mr Donald Fraser Mr Peter Frank Mr Martin Goc#Jwii Mr Neil Graharn Mr David Gunton Ms Pam Guy Mrs June Hardcastle Mr Alan Hadand Mrs Charmian Wrison Mrs Margaret Hayes Mrs Linda Hoe Mr Alan Holloway Mrs Beverfey Holloway Deacon Maria Howard Mrs Pearl Howard Mr Paul15gar Rev David Jenkins Mrs Paddy Jose Mr Michael Kirnber Mrs Patricia Kinchin9ton Miss Helen Khan Mr Alvin Laird Mrs Linda Langr*e Mrs Gill Lawson Mrs R05ernary Lister Mrs Mary Ludlow Mrs Vaterie Ma Rev Lesley Martin Re¥ James Malher Mr Alan Meakin Mrs Grace Mercef Rev Dr Ruth M￿Calf Rev Andrw MDff( Mrs Yvonne M055 Mr Sam Nyamakope Mr Michael Parkor Mrs Ann Peddle Mr Jarnes Peddle Mrs Hilary Reed Mr Terry Rtr•vell Miss Marianne Sale5 Rev Jonathan Salmon Rev David Shaw Margaret Simpson Mr Jonathon Skeel Mr Steve Skelion M5 Katherine Slaler Mrs Maz Slater Mr Michael Slaler Miss Samantha Slater Mr Nomian Smart Mr Michael Smith Miss Ruth Stacey Rev Dr John Sumitra Mrs Gina Tagoe Ms Janet Talbot Mrs Ruth Taylor Mr Keith Waite Mrfim Wa Mr Richard Waikem Mrs Jean Walsh Ms Mary Walion Ms Marion Wales IAr Michael Wamer Mr5 Sarah ￿lthorn Mrs MatTron You Baslngsloke & Readlng Methodist Circult Southamplon Distrfc( clrcult number 2614 Annual r8port for the year ended 311t August 2020 The members of the Circuit Meeting {as managing Irusteesl have pleaswe in presenting their annual report and the audsted ￿)unts for the year. 1. Objeclives and actlvlti85 The Circuit's vision statement is 'lnspKed and led by the Hdy Swnt. w8 shall love. resource and 81￿￿rage on• anoth8r Sha￿ Christ with our neighbour and gn)w Golfs kingdom. In d￿n9 th81, we shall placè people before builthftg4 mission before maint8nan¢e," and God over church." In February 2020 the Circuit adopted a mission strategy entided 'Nourtshed and Fed: Ready to Share, The Circuit's purpose is lo provide resoufces to supix)rt ministy in l¢Trl Churches. The Circuit dces this through the provision ol ordained ministefs and deacons. lay stsff and Circuit off￿er$ to support service and ministy from thé Circuit's 23 churches lo their lrtal C0￿munIties. The Circuit also has responsibility for the upkeep arKI maintenance of6 manses and 7 investment properties. The Circuit produces a quarterly wexhing plan to ensu￿ regular acts of V￿rshIp take place at each of the 18 Methodist Churches and 5 Local Ecumenical Partnerships in its geographical area. These are available to all people without chwge. The Cffcuil 15 also directty involved with outreach work, with a particular emphasis on chihjren arvj families. schoots. a￿1 support for foodbanks. The Iruslees confinx that they have referred to the guKJ¥K* ¢tsJtained in the Charity Commission's general guidance on wblic benefiL including the guKlance 'Public benefit.. runnirvJ a charity IPB2)', when reviewing the Circuivs and otyects¥es. The C￿Ul1 is putsuing ils objective5 through the lollowiro strategies ty woviding: Staffing resource$ arwj other assistan￿ to churches for ministry lo their cornmunities: Grants for outreach &tivities and iryrovements lo churches, premises that will faclitate access lo ministy; Training through st￿y. ment￿￿7g and exarinatKJn fi)r lay prexhers and worship leaders, Training and support in safeguard1￿ awareness: Opportunities for staff and mnbets of thurth C￿￿￿8{lOn5 to meet foi fellowship. worship and leaming.. and Care for Iho5e who have retired from fv114hne $8rvKe in the MeilvJdist Church. 2. Achl8vements and perlornian The Circuit h85 continued lo benefft from strorKJ and effectr* mwiisterial and lay leadership. This is now focussed through the Strategic Executive GfOUP, which was fomwl in September 2D15 and comprises representatives from ordained stsff. the c*cuit stewards. and lay rwnbers of the circuit meeling. The Group's brief is lo lake a more strategic VEW in 1&2ding the Cituit through a of change and guiding the awion of resour￿$ in the effective d¥ectlOD. The Citcuil has also continued to benefft frcAn its large group of established local preacher5. Currently vo indNiduals are 'on note. as intending I￿al preachers and two more are 'on trial. whi15t they undertake training. Chufches ¢onlinued to dev* wotship using a variety of forms and techr￿logY through 23 accredited worshp leade￿ wilh fve nM)re in trainHIg. Other grants iotalling £6,998 We￿ apwoved in the year and paid on four church projects. and £500 was allowed lo support work of Chwches Together in Berkshire. Further details are pmvided in Note 10 to the AcCC￿nts. The Circuit FKoduced devot￿nal resources for Advent 2019 that were distributed lo all the Circuf('s churches for use by widividuals. smal groups. or in worshp. The Circuit is actively invofved through lay 5tsff with outreach wojects in B￿ngs1oke. with young people and the Town Centre Chaplaincy. Sadly, all churches were required lo ¢h)se in rn¥J-March as wt of the nationwide efforts to counter the coronavirus pandemic. As the restrict[0￿ were eased from rTwJ-5ummer, thurches have been adapted to be Covi¢>secure so that they can continue to be used lor worship or for a¢tNities organised or sp)nsored by the churches. Such xtivities inchjde cafes, Boys, or Grls, Brigades or youth clubs, or by IrKal comrwnity wJanisalions Th)taW those prorTr)ting fftness and health, music 8asing5toke & Reading Methodist Circuit Southampton Dlstrlct, clr¢ult number 2614 Annual report lor the year ended 31 August 2020 and dance. The income from exlemal lettwi95 makes a valued contribut￿n towards upkeep of church premise5, and churches, finances will have been stretched by the loss of lettings income during th& lockdown period and afterwards. If churches, income does not in due course recover to near prfr Cowd levels. then this will ulb'rr• affect Ihe ability of some churches to pay assessments. The lockdown period has brought signifKant changes lo Sunday worship services. M￿h use ha5 been made of Zoom and sTh￿ar plalfornis ts txoadcasting services across the internet. Many churches arraNJe and hold their own services. and others use the service otganise by the Circuit each week. Churches are invèsting in technology to ffilm serviGes, this has opportunities for use for examFle with concerts held at churches beiTrJ ffAde avathabk to a wider al￿lence. The churches have ¢￿tinUed to develop ways and mean5 for outreach into local communities, for exanple the quiet garden at Slchester and ccxnmunity cafè5. Several churches have Messy Church,. lurth. holiday and after-school dubs., or taibred thildren, familles and youth work. l¥Nhilst much of thls has been pul on hold due to coronavints. there is every intention to reSUff￿ once this is possible. Some churche5 act as a collection point for 5hoE tK*xes for Operation Christmas Child. Mu¢h work is being done lo support foodba)ks acr0$5 the CiroJit's COM￿￿jnItIe$. One Ch￿￿h secured a grant to provide printer5 to farThlies needed them for their ththlren to schrM)I work at home. Many outreach projects are carried out in partnership with churches Irom other denOminat￿n$. such as the REinspired and 'Open the Book, programmes for dellvering religiou5 education in schools. weekly lunch club in Whitley. and the 'Lonelines5 Proiecf in CaYersharTh Wesley Methodist Church participated in 'Bed ts the Night,. an ecumenical initialive providing acc0mfftt)dal￿n and fcod the homeless in Reading. Trinity Basingstoke's Soup Lunch has developed contscts I￿1h foodbank users. 3. Financlal revlew The attached Statement of Financial Affa¥s {SOFAI 5ummari5e5 the Crcuit's income and expenditure for the year, Suppler￿nted by the Cash Fl¢MI slatement and the Notes lo the Financial Statements. The Balance Sheet shows the Cwjifs assets. Ik8bilities reserves. The net expenditure for the y￿r was £59.710 before hiv@strn￿1 gains {2019.' net eXp￿dibjre of £104.833). The redUCtiC￿ in r£t ex￿llUre of£45.123 resuw frcKn the folowirwJ: Contributions to the Southa￿10n Dithl aKI Methodist Church lunds Y￿re lower Maintenance of Ministry aSsesSrr￿nt lo the URC decreased further Sm311 grants and donations were higher Professtonal fees for propèty work were higher Travel and sundry expenses were lower with corona￿rUS reslitknms Manse maintenance and other costs were h￿her Costs had been incurred in the prewous year in relation to an abortive manse purchase Donations and *aues received were less than the prior year Rental income from manses was hbjher rr￿e woperties lenanted Other variatior￿, net 7,352 23.156 -3,120 -5.C67 11.530 -12,260 8,695 -14,991 28.100 1.728 45,123 After recognising losses C￿ invesbmenl properties and other assets of 8,250, nel expenditure for the year was £67,960 (2019.. nel expenditure of £166.104 after inveslment1055es of £61.271) Downward revahjalion of freetr￿d propety dep￿ funds by £nil12019.' £90,000). The Balance Sheet summarises the CirQJ￿5 a558ts, lali￿lieS and funds. Nel assets {and thus a99re9ate funds) at 314 August 2020 were £6.415,017 12019.. £6.482.977). The reduction in nel assets of £67.960 results froffl charwJes to assets and li*ililies as follows: Investment valuation losses Investment sale5 kss purchases Net expenditu￿ funded through investment pc*rfdio [p[W￿1Palfy Model Trusl Fund) Increasè in nel Gurrent assets Reduction in net assets 8,250 1,214 71.156 -12,660 67,960 8asingstoke & Reading Methodist Circuit Southampton District, circult number 2614 Annual report for tho year ended 3141 August 2020 The Circuivs net assets are held in eilher endowment. restricted or unrestitted funds. A full anatysis of the indNidual fund5, and the objectives for which income andlor capital may ￿ applied. is wovided in Notes 20 to 22 in these financ4al statements. These fuThJs may be sumrnwised as follows.. Endowm nt fund5 The income from these funds is applied to ministy ￿1n the Circul The capital is not available for use" Restricte Available far finarKing c8pilal schernes - Arthur Nwwbery Trusf Available for fundirvJ reven￿ expeThJrture as specrfied by donors 225,955 192.923 207.462 Un Iricted fun Manse capital fund lequivalenl to the valué of manse and investrent proFerties) Circuit Mtsjel Trust Fund. for fina￿Ing thurches. Ixi)pety and nmssion schemes through g￿ts. Funds available for financing Cwcuit occa5D)nal expenditwe: Circuit devdopment fund, for training and ff#ssion projects Youth work fund Kenhvorxl fund, for supporting churches small buldin9 5,371,500 250.596 50.607 2,500 66,080 Funds for fnancng Circuit annual operalirKJ expervjiiure General funds. for all purposes Manse maintenance fund. for repaits. marnlenance aTrJ refurbishment 242.889 293,424 6,415.017 I funds 4. Reserves pollcles The Circuit is requre(I to have policies regardirwj the level ol reserves to be held in respect of furwjs for financing Circuit annual operatwig expenditure. Policies are not required in respect of other funds since these are not held prwnarily for revenue purposes and Ihere are restriction5 on how the fvnds may be used. The fvnds marked {"} are managed by the Trustee5 for Methodist Church Purposes The Circuit's annual operatrng exFenditure includes the cost of ministerial and lay staff. provision of manses, travel and administrative expenses. aThJ contrd)utions to the Methodist Southarnplon District and Melhodist Church central funds. This expenditu￿ is funded by assessments on the CircuiV5 churches. investment income, rents on surplus manses. •KI contributions from the Model Trust Fund. Assessments on churches are caknlated as w¢ of the c￿j￿S annual ts￿get Pr￿esS. Increases in assessments on church&5 are limited to 1 ry•. and rnt more than 95% of a church's income {70% rf Ihe Ghuich has no buildings). The Circuit'5 budget reflecis the inpacl of anticipated thanges in staffing levels. the maintenance needs of its residential propèrty portfolio, and any arrthints lo be drawn from reserves to support the planned expenditure. The Crojit Meeting approves the budget and assessments. and the amounts lo be carried fonmard in reseNes. Propjsed drawings from the restricted funds ol the Circuit to assist churthe5 With building improvements and fund improven*nts to the manses are considered arKI approvèd on a casé by case basis by the Circuil Meeting. In setting lis reserves policy the Circuit Meeting also cMsiders the fiftancial health of the thurches In the Circuit which has tmmed ffi their ability to fund the annual Circuit asses5￿Ent. The CirGuil's reserves policies are to mainlain at knast A general fund balan￿ of £150.000. sufficient to cover thrèe mnths. running c05ts', and A manse maintenance fund balance of at least £SO.I)JO, sufficient also for three rrh)nths' running costs of approximately £20,IxrfJ plus £30.000 for unexpected ￿paIrS lo manses. The balances on these reserves at 31 August 2020 wefe £242.889 and £50,535 ￿SpeCtive1y. Basingstoke & Reading Mèthodist Circult Southampton Distric( circuit number 2614 Annual report for the yoar ended 31" August 2020 The Circuit's b￿1get for the year Co￿￿n￿n9 1 September 2020 shows net expenditure of £51.901 on Ger￿al Fund a surplus of £8,229 on Manse Maintenance Fund. The General Fund deficit will be paruy relieved by a transfer from Model Trust Fund of £48.029 towards the Cost of providing specialist resources support xro$s the Circuii's churches. The trustees consider the cir￿11 to be going concern. 5. Investrnent poll¢les In accorda￿e with Ihe SlarKl•YJ Orders of the Methc#Jisl Church. the Circuifs investments are Managed on its behalf by the Trustees ftjr Methodist Church Purposes ITMCP), Central Buildings. Oldham Street Manchester M1 1JQ. TMCP * a5 QJ5todian trustee for all proFerties held by Circuits, for all large bequests (ie over £20,OCNJ) and for Ihe proceeds of sale of any wopety where the Circuit Was managing trustee. These sums are invested li unitised investments or held on dep05il. Short terrn deposits are lodged with the Central Finance 8oard ICFB) of the Methodist Church. The Circuivs investn￿t policies are aligned with Ihose of TMCP the CFB because these organisalion5 take into consideration the xtial, environmental and ethKal tssues. both negatively and positively, Ih¥t make ￿vestMents suitable for the Methodist Churth. 6. Pay and remuneration polkles Ministers are Static￿ed in the Circuit by the Methc#Jist Conference. Ministers. rernUnerat￿ is set nationalty by the Methodisl Church. Mini5ter5 are ￿￿rnbers of the Methodisl Ministers Pens Scheme. Conlr#)ution rates are set nath)nally by ihe Methodt5t Church. Lay employee5 are direthy emthed by the CffcuiL Lay enykiyee remuneration is based on the Methodist Church's guidance f¢w the settlng of pay rates for lay employees. Lay empk*yee pay rates are in excess of the National Living Wage. The Circuti offers a pension scheme to it5 lay employee& The Circuit matches lay employee contrknutions up to 10% 01 satsry. The minimurn employer cOntribut￿n rate is 6%. No mernbw of staff is paid in excess of £60,000 pef annunl InlNmalion on the payment of expenses to trustees and remuneraticrf) of key management personnel is disclosed in the notes to cIr￿N￿S xcwnts. 7. Structure and govemance The Circuit was established in accordance with the cx)nstitution of thè Methodist Church. Its organisation is stnjctured around its bi-annual c1￿1t Meeting. The Circuit also hold5 bi•annual gatherings to which mernbets of all churches are inviied for worship, disGUS5ion, prayer and activitw. The merthrs of the Cir¢uil Meeting are the trustees of the Cwcuf(. The Circu¢t Meeting comprises the Circuit staff and officers, and representatives from exh church in the Circuit and the local preacher5. meeting. Each church Ce￿n¢11 and the local preacheTr meetiThJ elect representatives lo the Circuit Meeting annualty. The Circuit offrys a￿ apF(>inted annualty by Cwcuit Meeting. The Circuit Meeting is supported ty separate n￿nthfy mèebngs of ordained staff and circuit stewards to conduct day-t￿aY business and o)nsbJer matters to be brought lo the attent￿n of the Circuit Meeting. A Strategic Executive Group was set up in September 2015 following a review of th& Circuit's govemance. This group's responsits"lities ndude circuit $tralegy and vision. resource planning and oVe￿ght of probationer5 and candidates. A number of focussed 'Getting 11 Done, and 'Special Inl8resl' Groups locus on wayer, Fweparatwjn of worship matèrials, arranging Circull gatherings and managing our propwty porttolio. 8. Admlnistratlve dèialls These details are provmjed on page 1 to these fifw*>al skien￿lS. Baslngsloke & Readlng Mgthodist Clrcuit Southampton Dbtrl¢L Circuit number 2614 Annual report for the year onded 31•1 August 2020 9. Princlpal rlsks and uncertalntle8 The major iisks to which the Circuit is exposed have been Klentified by the Circuil Meeting and are listed below. A major risk defined as one tha( rf reali5ed could fundamentally affect the way in whth the Circuit operates or achieve5 its outc￿￿*5 in the next to three years. Rtsk Churches cannot afford to pay their assessments. This wouhj affect the of the CiTCUit to frJnd staffin The Circuit cannot rfAintain residential operties to appropriate stsndards Evaluation Commenta The Circuit takes into account church income when settirKJ assessments on churches. Surveyors carry out Inspec￿n5 every five years lo assist planning repairs and rnaintenance. There is Suff￿lent in the M¢4Jel Twsl Fund for works needed in the medium tenn There is a Connexional shortage of presbyters. and sometimès vacancies canrtrot be filled immediatel Circuit is heavily dependent on suth individuals and the time that they to thè Cniifs life work. At resent rr#)sl sls are filbed. If churches cease to operate. the C1￿Ult rnay need to become managing trustee for Ihe Site. Lo The Circuit is unatAe to fil Slat￿n$ with presbyters. deacons or Lay staff where The Circuit is unable lo attract circuit stewards and other offKe holders 4 approprHle skills and expertise Moderate Churches are ur￿l￿e to attract office holders with sufficient time. skills arKJ expertise to enable them io o)nlinue ratin Mtykrate 10. Further Infomiallon If further inlomation is requyed on the c￿lfS life arKI wltness, please f¥5t contact Mrs M8rion Young. at the Circuit office {see page 1). 11. Slatement ot trustees. rnsponsibSlltles Charity law requres the Circuit Meeting lo prepa￿ financial statements for each financial y&ar, which give a true and lair view of the stale of the Cin%tl as al the balance sheet dale and of 115 inrnming resources and application of resources, including income arKJ expermliture, for the financial year. In preparing those financial statements, the Cirr%ii Meeting a￿ required to: select suitsble &counling policies and then appty them consi5tenty: make judgrr*nts and estimates that are reasonab￿ and prudent,. state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements: and prepare the financial statements on the goirKJ cc4Kem tsa￿ unless it 15 nappropriate lo presume that the charity will continue on that basis. The Circurt Meeting are responsible for maintaining pryr accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensu￿ that the financial statements comply ￿th the Charities Act 2011. They are also reSP￿sIble for safeguarding the assets of the charity aNI h8nce for taking ￿asonable steps for the prevention and detection of fraud or other irregul*itres. Siqned on behalf of the Circuit Meeling Rev Dr Ruth Midcalf Superintendent Minisier. 1 Marth 2021 Basingstoke & Readlng Methodlsl Clrcult Southampton Dlstrlct, clrcutt nunjbor 2614 Annual report for the year end￿ 31# August 2020 Independenl Auditorfs Report lo the Tnthes ol Baslngstoke & Readlng Methodlsi ClrGult Oplnlon We have audited the financial statements of Ba￿ngStOke & ReadiTrg Meth(MJist Circuit (the 'charity') for the year ended 31 August 2020 which comprise ihe Ststement of Financial ActNities. Balance Sheet and the Cash Fkm state￿nt and notes to the financial statements, i￿luding a summary of Significant accounting policies. The financial reporting tramework that has been appled in their preparation is applicable law arvj United Kngdom Accounting Standards. including FRS 102 'The Financial Reporting StaNJard applicabk in the UK arKI Republic of Ireland" (United Kirwm Generally Accepted kcounting PraciTh). In our opinion the finan(aal stalerr¢n￿. give a true and lar view of the slate ol the dwty's affars as at 31 August 2020 arKI of its incomwig resources and applKatsn of rnsources, far the year then ended.. have been property wepared in ￿COrdar￿ wih Uniled lfjn9dom Generalty Accepted Accounting Prxtice: and have been prepared in accordarKe with the requirerrents of the Charilw Act 2011. Thls report ts mxle solely to Ihe charity's Intstees. as a body, In accordance with Chapter 3 of P*1 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audil work has been undertaken so thal we mwJht stale to the Charity's trustees those matters we are required lo state to them in an auditorfs reFQrt and no purpJsè. To the fiJllesl extent permitled by law. we do not accept or assume responsibility to anY￿e olher than ihe charity and its trustees as a body, for our audit work, for thi5 report. or for the opin*)ns we have fryrrtd. Basls for oplnlon Wé conducted our audit ￿ accordan￿ with InteffAIAY￿I Stsndards on Auditing {UKI (ISAS {UK>) and applkable law. Our responsi￿lIt￿S under those standards are further described in the Auditorfs responsibilities lor the audit of the financtal statements section of our reporL We are independent of the charity in acCOrda￿e with the elhThl requirements that are relevanl to our audit of the financial State￿nIS in the i￿rUd1￿j the FRC'S Ethical Slandard. and we have fulfilled our elhbcal iesponsibilities in XCord￿Ce vrith these requyements. We beYEve that the audit evidence we have obtained 15 suffiaent and appripriate to wovmle a basis for our audit opinion. Concluslons relailng lo golng conc•m We have nothing to rewt in respect of the foll￿n9 matters in which Ihe ISA5 {UK} require us to report to you where: the trustees, use of the gtyng con¢xn basis of ac¢(yJnling in ts preparalton of the financial stalements is not apyowiate, or the trustee5 have n¢A disclosed in the finan(ial Stalen￿ts any identified malerial urKertainlie5 that may casl s￿nif￿nt doubt atcdrt the chwity's ability to continue to adopl the going concem basis of accounting for a wiod of at least nKM)ths frum the d*e when the financial statements are authtNised for issue. Other Inforn￿tIoft The trustee5 are responsiblè lor thé other knfonrAtion. The other infonnation cximprises the information included in the annual repo¢ other than the financial stalements and Dur audilorfs report Ihereon. Our opinion on the fin￿cial statements does not coyer the other informal￿￿ arsd. except lo the extenl otherwise explIc￿Y stated kn our rer*xL ￿ (k) not express any tomi of assuran conclusion thereon. In connection with our audit of Ihe financlal statements. our re5pon5ibility is lo read the other information and, in doing so, consider whether the otheT inforMath￿ 15 materially irunsislent with the financial statèments or our knowledge obtained in the audii or olherwise aPP￿S to be materially Baslngstokg & Reading Methodlst Circuit Southampton DistricL clrcutt nUm￿r 2614 Annual rnport for the year ended 31 August 2020 misstated. If we idenbfy s￿h material inconsK%tencies or apparent material nmsstalements, we are fewired to deteirrwne whether Ihere is a material misststement wi the financial statements or a material misslattynent of the other information. If. based ￿ the work we have perfomied, we ¢onGlude that th8re is a material misstatement of Ihi5 other intsmalwM. we are requked to rgport that fa¢L We have nothing to report in this regard. Matters on whlch we arn raqulrod to roport by exceptlon We have nolhing to report in respect of the foll(Miing rnatters where the Charities Act 2011 requires us to report io you if. in our opinth: the inlmnation given in the Twstees, Annual Re￿t is I￿onSI518n1 in any material respect with the financial statements; or sufficEnl accounting rnc(xds have not been kept or thè financial slatements ar8 rK)t ￿ agree￿￿tWith acownlyig rec(*ds and retums; (x we have nol received au the infDrmab(>n and exp&nats￿S we requi￿ for tyjr audiL Respon8lbilitl•s of trustees As explained more fvlty in the trustees, responsibAitEs slatement set oui on page 7, the trustèes are responsible for the preparation of the finwcial slatements and for bewig satisfied that they give a tnje and fair view, and for such intemal control as the trustees detemine is necessary to enable the preparation of financial staleffEnts that are free from materol ris$taten￿nt. whether due to fraud or error. In preparing the financial slatements, the trustees are responsble for assessing the charity's ability to continue as a going cortem. disd05ing, as appI￿able, matteT5 related to going concem and using the going concern basis of accounting unle$5 the trustees either inlerKI to liquidate the charity OT to cease operations, or have no realith allematNe but to (Jo so. AuditoV5 responslbili1￿s for the audit of the financial statements Our objectives are to obtain reasonable a5suranGe about whether the financial statements as a whole are free from material misststerT¢n( whether due to fraud or error, and to i55ue an audito￿$ report that indudes our opinion. ReasOn￿e assurance is a h￿h level of assurance. but is nol a guarantee that an audit conducted in XCOrdar￿ with ISAS {UKI will always delect a material misstslemenl when it exists. Misslatements can arise from fraud or error and are considered material if, individualty or in the aggregate, they could reasonaw be expected lo Influen￿ the economic decisions of users taken on the basis of these financial statements. A lurth•r déscript￿ of our resp￿SIbIli11es for the ￿diL of the financial statements is localed on the Financial Reporting Counuls websile at vwAfyv.Iroorg.ukJauditorsresponsibilib'es. This description part of our authtorfs reF#rt Darren O'connor Bsc (Honsl FCCA FCA Sgn4W Statukny Auditor For and on behalf of Jawes Cowper Kreston. Slatulory Auditor James Cowper Kreston *ible to xt as awlits in tonrs of Sect#￿ 1212 of the Coffpanies Act 2006 Reading Brid9e House George Streel Reading Berkshire RG1 8LS Dale= 17 March 2021 BASINGSTOKE & READING METhODIST CIRCUIT STATEME1￿ OF FWIANCIAL ACTMTIES Fortheyear ended31 August2020 unl￿11￿￿ funds RMtrlct•d Endowment Total Gonernl Deslgnaled Funds FurMIJ 2020 Funds Funds INCOME AND ENDOINMEltrs Donations and lega¢ies Chaiitable income Assessmnts on C￿￿¥￿•$ Ot￿r income Investments Leltings income Inv•slmenl income irtsest 11982 12.982 477.135 170 477.135 11.638 11.468 85.338 2.651 85.338 12.984 9.706 347 Total Income and endowm•nts 4B7.011 112.439 347 600.077 EXPENDITURE Charitable expendilure Supends. salaries and associated ￿$ts Assessments and levies Manse running costs Grants donations Admintstralion and travel Other outgungs Raising funds Inveslmenl manageNwrt costs Tolal oxpgnthirn 340.423 104.249 340,423 119.645 121.971 7.820 28.282 39,361 15.393 121.971 10 28.282 13.819 25.542 642 65 1,578 2.285 487.273 170.549 387 1.578 659.787 Ngt Incomel(expgndllurg1 ￿fore Investment galnsn¢ws Investment realised & unreallsed gan￿1[05¥e5I Investment propertles 15 16 {262) (58.1101 1107) (1.231) 159.710) {2.718) 15,$32) {8.250) Not Incomel(expwKMiurn) b transfèrs 158.110) 12.825) 16.763) (67.960) Transfers befvfftn funds Revaluation of freehold property 13.861 {11.464) (2.1971 14 Ng1 movgmeDt In lundj 13.399 169,574) (5.0221 16,7631 (87.960> Total funds brought ftjrward 229.490 5.808.285 212.484 232.718 6.482.977 Totsl lund• at 31 August 2020 241889 5,738,711 207.462 225.955 6.415.017 The slatemenl of fmarKial Kbvitses in¢hAes all gws aThY h)sses r8wMsod in Ihg year. The notes on pages 14 to 23 form p4rt ofllwe Stat￿15. 10- BASINGSTOKE & READING METHODIST CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES For Ihe year ended 31 August 2019 Not•s Unrestrkt•d Fund5 General D•slgMtod Fund5 Funds Restrictfjd Endowment Funds Funds Totsl 2019 INCOME AND ENDOWMENTS Donations and k9acies Charitable income Assessments on churches Other income Investments Lettings income Investment income and interest 27,973 27,973 479.921 7,387 479,921 887 57.238 57,238 16,167 11.4 274 342 Total ineomo and endowments 492,264 274 342 588.686 EXPENDITURE Charitable expenditure Stipends. s￿arieS and asswated costs Assessments and levies Manse runnkng costs Grants and donations Administration and travel Other out90ings Rai￿ng funds Investment management costs Total expendlture 341.033 120,324 341,033 150.188 109,711 4,700 38,845 46.312 29,864 109.711 4.100 10 38.845 17.142 29.170 1,030 64 1,636 2,730 517.944 173,875 1,636 693,519 Net incomel{expendlthre) belor¢ invèstment gainsmosses Investrnent realised & unrealised gainsl(knsse5} Investment properbes Other investments 5.680) (78.C69) 210 11.2941 {104,8331 (65.Y)5) {65,9051 4,634 16 1.887 2.747 Net incomel{expendlture) boforn Iransfers 125,680) (143,974) 2.097 1.453 1166,1041 Transfers ￿tween funds Revaluation of freehold prope 83,857 (82.357) (g0.oM) {1,5LI)) Igo,0001 Net movement in funds 58.177 (316.331) 597 1.453 (256.104} Total funds brwght fOr￿arlI 171.313 6.124.616 211,887 231,265 6,739,081 Total fund8 al 31 August 2019 229.490 5.808.285 212.484 232,718 8,482,977 The statement of f￿anCIal activities includes all and losses recognised in the year. The notes on pages 14 to 23 fom of these FirkgrKial Ststements. BASINGSTOKE & READING METHODIST CIRCUIT BALANCE SHEET As at 31 August 2020 2020 2019 FIXED ASSETS Freehold properties; manse5 Investment FKoperties Investments 14 15 16 2.945.IK)O 2.426.500 680.229 3,210,000 2,161.500 760.849 6.051.729 6,132,349 CURRENT ASSETS Oebtor5 Central Finance Board deposits Cash al bank and in hand 17 42,843 347.969 25.015 30,945 379, 149 21.723 415.827 431.817 CreditOT5 Amounls falling due wtthin one year 18 52.539 81.189 Net Currnnt Assets 363.288 350,628 NET ASSETS 6,415,017 6.482,977 FUNDS Endowment funds Restricted funds 20 21 225,955 207.462 5.981.600 232.718 212.484 6,037,775 Unrestricted funds 6,415,017 6,482,977 The Fin*oal Statements ￿re apwo¥ed by the Managth￿ TnBlees on 1 Mwch 2021 and are Signed on thelr behalf by:" Ld Rev Dr Ruth Midca Superinlendent minister Jan Harfand Circuil steward & treasu The notes ￿ pages 14 to 23 form pwt of these FwwKial stalernents 12- BASINGSTOKE & READING METHODIST CIRCUIT CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020 2020 2019 Notes 25 Cash used In operating activltles 1198.$801 (251.811 Cash Ilows from Investlng activities Dividends, inte￿t and rents from ￿vesti1￿￿ Pioceeds from sale of propety Expendilure funded through nvestment p)rttolio Purchase of investrnents Investment s* proceeds 98,322 73.405 71,156 (7,292) 190.297 119.424) 23,124 Cash provided by Investing actlvltles 170.692 267,402 (ReductM)n)fincrease in cash and cash equrvaknts (27.888) 15,591 Cash and cash equivalents at the beginning of the swr 4(Kl.872 385,281 Tolal cash and cash e4uival•nts at th• end of year 372,984 400.872 BASINGSTOKE & READING METHODIST CIRcurr NOTES FORP•llNG PART OF THE FINANCIAL STATEMENTS For the year ended31 August 2020 STATEMENT OF ACCOUNTING POLICIES Basls of Preparation The financial slalements have been prepaRd in *cordan￿ with Accounting and Reporting by Charities,. Stslemenl of Recommended Prxtice aPpI￿able lo charilies p￿parIng their accounts in accordancè wth the Financial Reporbng StaTrJard applicatrAe in the UK and Republic of Ireland {FRS 102118ffective 1 January 2D15) - (Charities SORP IFRS 102)). the FThncial Reporting Standard applicable in the UK and Republ￿ of Ireland IFRS 1021 a5 updated by Bullelin 1, and Ihe CoMpan￿S Aci 2006. These ststements are denominated in Sterling, rounded io the r￿rest L The Basingstoke arKI Reading Methodist Circuit meets the definition ol a public benefit enlty under FRS 102. The accounts have been prepwed on the bass of htsloric cost except that investments and propertie5 are shown at their market value. Based on the monetary assets and human resources a¥ailabl8 to the Circuit at 31 August 2020 the trustees believe that Ihe Circuit is a goirKJ ¢orKem. Fund Accountlng The funds constitute: Unrestricted funds vthtc* include general furKls h*J any wrpose of the CircuiL the Cinjit Model Trust Fund which has wwje purFoses defined in Standing Orders and is tateg)rised as unreslri¢ted', and other designated funds that are held for pur[￿ agreed by Circuit Meeting. Restricted funds are funds that can b& used for Speur￿ restricted wrposes as laid down by the donor. Endowment funds whth represent gtft5 ihat are held as (zpilal to generate income that is available for etther restricted or unrestricted purposes. Income and endowments Al incoming resources are induded th the Ststemenl of FTh?ncial A¢bvities when the Cir¢uit becomes entiiled lo the resource5, the trustees are vKtually certaii they receive the resources. and the monetary va￿@ can be measured with suffKient reliability. Expendilure ResoU￿e$ expended are axounled for on an xcruab basis. Expenditure is recogni5ed when a liability Is inujrred or a constructive otrAwatv)n ￿SeS ihat result5 in the payment being unavoMJable. The Circuit is not VAT regtslered so expeTrJiture is slated ofVAT kn applicable. Grnnts Grants by the Circuit are recognised at the time of agreement to pay (without performance conditions}. or when it is accepted there is an oblb3ation to pay {bf subject lo perf1xman￿ conditions). Where grants are payable over more than one year. the accrual ts discounted to r*t present value rf the difference is material. Connexlonal donatlons - acllng as agent The Circuil acts as agent in collecting from thurch8s snd then paying over their contributions to various Melhodisl Connexional funds aThJ other extemal organi%ations. These transaction5 are therefore r￿1 Teflected in the SOFA bul are disdosed in Notes to the Aco)unts as requwed by the SORP {FRS102}, module 19.12. Ownershlp of Methodist property Under the Methodist Church Act 1976 the rpwner5hip of meth￿Ist woperty in England. Wales and Scodand was on 16 Aprl 1977 autOma￿lY tsansferred to Ihe Trustees for Melhc#Jist Church Purposes {TMCP). Property includes stocks. shares, unit trust investment5 aTrJ all other secunties as well as land, buildings and chattels. TMCP hcdds such property as custodian trusiees. The management of thi5 propety is ve51ed in the relevant managwig trustees wh) musl act in XC0rd￿ ￿ the Model Trusts and the Stsnding Orders made under them. The woperty for which the Circuit arn rnanagw￿ tnjstees is included in the Circuivs accounts. 14- BASINGSTOKE & READING METHODIST CIRCUIT NOTES FORMING PART OF THE FINANCIAL STATEMENTS For th• yw•nd8d31 August 2020 (cont STATEMENT OF ACCOUNTING POUCIES Iconllnu•dl Tanglble flxed assets Assets are capitalised rf Ihey can be used for more than on& year and cost more than £2,500. Freehold propety is slated at rnarket value. wkn￿h is annualty. Office equpment and other plant is staled at cost. Deyeciation ts calculated on the 5trayht line basis at 20% w ofFKe equipment and other plant bul is not provided on freehold property ￿nce this is reval￿[ annualy. Investment propertles Properbes Ihal are no longw required as manse5 are h*J as investment proF)erties. They we stated al market vakje. whth is annuaty. Flnanclal Instrum•nts The Circuit only has financial assets and fI￿nCial liabilities of a kind thal qualfy as basic financial instruments. Basic financial inslrurnents are inilially reccsni5ed al transaction value and subsequentty measured at their settlement vthe with thè exception of bank loans vthich are subsequently measured al amortised Cost using the effective interest method. Inv•stm•nts Investments are included at market value at the Balancè Sheet ¢Jate. Investment ￿corne is included in the accounts when receNatde and any gains (A 105ses on revalualion at the year end *e induded in Ihg Stalemenl of Financial Activil*s. The investments are in monetary assets. ExcerA for the Briggs Tntst funds which are managed by Uoyds Bank. the Circuit's investment assets are held by the Tru5tee5 for Meth(xti5t Church Purpose5 (TMCPI a5 custo(liw trustees. The va￿atron￿ at market vaue. are those as FKovided by Lknyds Bank and TMCP as at 31 August 2020. Staff costs The ministers are paid stipends at rales set ty Ihe Methodlst Conference. The lay empkjyees are paid salaries at rates set by the Circuit. The Circuit makès payments to the Methodist MinkSter5 Penswjn Fund and into a penskn scheme for its lay employees. The charge represents the amount payable wi respect of the year. Mlnlstevs. manse Costs The Ciniil is required to wovide accomThvJdatM)n for each minister and their fwnilies. and ministers are expecled to cKcupy them. The Circuit bears the cost of repairs aThJ mainlenance. premises insurance, council tsx and water charges. These are not regarded as benefits in kind by HM Revenue & Customs. CRMCAL ACCOUNTING ESTIPaATES AND JUDGEMEPffi8 Eslimale5 and judgements are continually evahJated and are based on historical expeiEn¢e and current factors, including extEctalions of fuiure events that are be￿ved lo be reasonable under the circumstances. The Circuit trustees make estimates and a55umptions conceming the future. The result￿9 accounting eslimale5 and a55umplion5 will, by definrtion,seldom equal the related xtual results. The only estimates and assumpti￿S that have signifrant risk of causing a material adjustment lo the carying amounts ol assets and liabiliti&s within the nÉxl finartial year are discussed beFrw. Land and bulldlngs The carying values of and buildings ￿￿thIn fixed assets and investment properties have reviewed by the trustees based on a professio￿ valuat*￿ for accounts purposes at the balance sheet date. 1s- BASINGSTOKE & READING METHODIST CIRCUIT NOTES FOR11114G PIAT FINAl4flAL STATEMENTS Forth•yt•r ended31 August 2020 (coftf55ible to idenbfy the Circuit's shar8 of a558ts and liabilities. The resulls of the lale5t c￿PIeted xtuarial valuation thich was carried out on 1 September 2017, assuming that the Scheme conknues into the future, were as follows: 2014 Targel kvel of assets Actua V￿ of assets Surpluslshortlall{-) wi assets Funthng lev 449.7 469.3 19.6 104.40% 424.0 40.0 90.60% As the Scheme was in surF4us at 1 September 2017. a recovery was no k)nger requlred: but. because the margin of surplus vras relatively smal. it ￿￿S considered prudenl to maintan conlribulions al exi51ing levels rather than reduce aNJ have to In￿ase again. C￿[15 have been paying lo&￿ contribution5 al 26.￿ of stipend remuneration since 1 SepleThthr 2013. next revie* is fw 1 Sept￿ber 2020. The Circuil belongs lo a mulli-employer defined contribution pension xheme operated by The Pensions Trust which is offered lo lay enwoyees. The CircJJit matches their ￿ltrIbUtI￿5 to the schem8 UP to 10% of pay. In line with FRS102 28.38. Ihere is nD contrachwl agreemenl WKI th8r8fore the Cost recognised is equal to the conlributians payable for the p￿1(￿. 14 TANGIBLE FIXED ASSETS Land Bulldlngs Total Valuatlon At 1 SeplembEr 2019 Transfer to investment properties Revaluation change At 31 August 2020 Depreclatlon At 1 September 2019 Provision for the ye 1.075.000 (￿.C￿)0 2.135,000 1175.0001 3.210.000 1265.01)0) 985.tY)O 1.960.000 2.945.000 At 31 August 2020 Not Book Valuo Al I September 2019 At 31 August 2020 1.075.000 985.￿)0 2.135,ryJo 1.960.000 3,210.000 2.945,000 The martses We￿ revalued by the trustees al 31 August 2020, folb)wThJ a professional valualion for accounts purp059s as al that date by Hastams. Chartered survey￿5. The value VAS unchanged over 31 August 2019. The hislorical value of land and buildirKJs rf they h>Y not bean revalued was £2.695.511 {31 August 2019: £2,941,004). IWIESTMENT PROPERTIES 15 Land Bulldlngs Totsl Valuatlon Al 1 September 2019 Transfer from larvJibfe fixed assets RevaluatKm change 716.500 90.000 1,445.000 175.000 2,161,500 265.000 Al 31 August 2020 806.500 1,620.000 2.426,500 The manses We￿ revalued by the InBtees at 31 August 2020, follNing a professIor￿ valuation for accoun15 purposes 85 al that dale by HasIa￿. Chartered Suryeyors. The value was unchanged ov8r 31 August 2019. The historical value of land aThJ buildiThJs if they h•1 b88n r8valued Wds £1,791,493131 August 2019: £1,546,000). 19- BASINGSTOKE & READING METHODIST CIRCUJT NOTES FORMING PART OF ThE RNANCIAL STATEMENTS Fortheyear ended31 August 2020 fcont'd.) 16 INVESTMENTS 2020 2019 Balance at 1 September 2019 Additions Disposals Unrealised gainslllosses) 343.888 7.292 (8,5061 8.248 334.426 345.803 342.954 19,424 123,1241 4.634 343.888 416.961 Cash held Balance at 31 August 2020 680.229 760.849 Anatysls of Inve5tm8nt5 Investments listed on a recogrisejj SlcK* Ex¢haTV ty hekl in c(￿mon inveslmenl funds. unit Iwsts or colkclwle Invest￿ sch Other investrnents Circuil Medd TnJsl cash Ihjkliws 335.640 93.995 250.594 343,888 95.014 321,947 680,229 760.849 17 DEBTORS 2020 2019 Sundry debtors Sli)ends Pa￿ in advaKe Prepayments 7,8C6 19.896 15.141 42.843 18,004 12.941 30,945 18 CREDITORS 2020 2019 Assessments Other credilors Whidey Methodist Church, share of legxy pay*e Gfanl$ payable (see Note 10} Accruals 35,701 3.922 39.162 6,893 16.982 6C 17,552 10,916 52,539 81.189 19 ANALYSIS OF NET ASSETS BETWEEN FUNDS Flxed Investmnt Promy Other Investments Current Assets (net) Totsl Funds. year ended 31 August 2020 End¢)wment funds Restricted funds Unr8slrictad fund5 22S.955 203,680 250,594 225.955 207,462 5,981,600 6,415,D17 3.782 359,506 2.945.(th 2.426.5fy) 2.945.CLKI 2.426,5(h) 6BO.229 363,288 Funds. year ended 31 August 2019 Endowment fund5 Re5trKted funds Unre51ricted fund5 232.718 206.184 321.947 232,718 212,484 6,037.775 3.210.OW 2.161.5LM) 344.328 3.210.IXKI 2.161.5 760.849 350,628 6.482,977 BASINGSTOKE & READING METHODIST CIRCUIT NOTES FORMING PART OF THE FINANCIAL STATEMEtirs Forih•y•arended31 August 2Q20 (eontdj 20 ENDOWMENT FUNDS balanc#B (0xp￿￿j￿} gasn￿lO$s0￿I lances Mov?m•nts Sn y•ar•ndod 31 A•NJu5t 2020 Arthyr Ne¥4bery TDJst 546 ITrustees Invesbnert F￿￿." T Arthur Newbery frnst 4345 (fiFI Arthur Newbery Twust 4763 Imelhodist Manw MiY*d 8 TIF) Arthur Nowbery Twus¢ 5447 ArthurNthvbery Twu513669 ITIFI AJ 8ry3s Trust lrnanag•d by B8nk Prr** 3sg 30,599 [1.5291 85,268 337 9.535 99,857 9,471 105,355 {1,49BI 14.CO)I 232.718 {1.2341 15.5291 225,955 Mo¥emen¢s In y••r•r#a•d 31 2ffi9 Arthur Newthry Trus15446 (Tn￿ knTr•*slm•nt F￿￿ TIF Arthur Ne¥*tery Trus14345 ITIFI Arthur NeW￿ry Trusl 4763 (l￿¢dIst Mixed Fun(Is & TIF) Ajthur N*￿tery Trusl $447 (TIF) Arthur Newbery Trust 3669 rnF) Al Brwjgs Twst lrnanw by LW earlr P* 359 30,399 30202 197 86.797 337 9.471 105 355 231,265 11.2951 2,748 232.718 The in¥estrrpnt Ir¢ome 9enernl8d by fijrth 5446. 47FJ and us•d day to d•y runn*ig costs. The mèstm•Thl the incm ￿neral￿d by lunds 4345 a￿1 3669 i% ht*J n th8 h￿￿. by Kl BTh3gs TFUSt is Used lo fund minl$try in Ba51ngstoke. 21 ResTRIrn FUNDS 337 9.412 59 Mov8Ments kn yw gnded 31 Auw 2020 Bene¥obnc• lu Edith Badey Bequesl Isupwtir¥J pèryslel Arthur Newthry Trltst lfinan¢xg capital sdw*s in ￿ Circuit) F￿d lor the Workèrwilh Ilw Otsl 4.104 10.686 71 10.757 195.5 2.194 144 12.721} 12.1941 12.1941 212.484 110n 12.7211 207.462 Plov•m•fi￿ In Y•ar•nd￿ 31 AW 2019 8ènev0len￿ fvr*J Édilh Bai* 8tqUèSl {$ur4>Dth9 peoF*) Arthur NeAtw Tntst lfinanong £aF4315d IN th¢ Cir¢uitl Fund 1Drt￿ ¥thh ts 0￿1 4.104 10.707 4.104 10.6e6 121} I93.￿) 231 1.889 195.500 2,194 211,88S 210 1.889 212.484 The Benevok￿ Fund Is by Ibe Edlh B*y Beque51 15 to b8 US8d 10 5UPPOrt inOMdua15 In need. The AJlhur kn¥bery Trust is a¥alat4e to Iw#J ca* sd*mts. The Fuwj *x lh• Wf*kw lh• D•af rqserye contribuw l(v*ard5 Ihp cos¢ ol thi5 post bul has now been dosed -21 BASINGSTOKE & READING M￿HoDIST CIRCUIT NOTE5 FORWNG PARTOF THE FIN•J4CIAL STATEPAEIITS F*rthe)wr•nd•d31 Awt2frXI (contw) 22 UNRESTRICTED FUNDS Nrf or In¥ts¢m•nt Trnn¥l• balanms •xp•r4llbJrf.) G•**lLo¥sq8 ¢I￿n9 lanG•s Mo¥•m•nts In y•ar 31 Awt 2020 Genoral fund Iday lo doy ruthrvj cogts) Dgslqn•t•d Funds: Manse Main*nanc8 *JTrJ ManBes ￿￿la1 (Ythje olmw*es) Ytyjlh work luTrJ CirtLuI de¥elDpm8nt (tr￿. wtreoth ￿¥￿¢1* Kentl￿Dd Fund (grants wgeLtsI Clruil ToJ5l *J¥J 229.49) (2591 1165e 242,B89 58.742 371.$1)) IXJ.70n 42,51VJ 5q535 &371.500 2,500 50,607 11973 25Q596 37.625 15.971 321,947 12,982 (2.9981 117,387) 153.9641 037.775 158,3691 2.194 &981,6C Mowmènts In y•ar•id•d 31 Auw$12019 G•n•ral fvnd l*Jay10 day rumiw costsi qnatod Funds.. mar￿ mainle￿nCe fvTr Manse5 capital Ivakx ormar￿11- resl*d Youthv40th fiJTh1 CiroJrt ¢e¥ebweN fvnd IlrairK#J.+Xrtreath. S￿￿ wr•I5 KenMYoJ Igrants woiedsl Cirujit K4Jdd Tru51 fvr 171.313 83.8S7 229490 sy 527.405 (75,5181 I155.￿5) 83.756 58,742 &371,$00 1500 37,625 1S,971 321.947 11.747 20.071 514.859 2S.878 14.1COI IX7991 116&1131 6.295.Y2 59.6S41 &037,775 23 TRANSFERS 8EPhfEN FUIIDS 24 AGENCY COLLECT1014S ANO PAYMENTS The C¥cuil acted a5 agert in ethEr th8 cd15ct*￿ or facthlam Dfthe rrm tabLlated bthw. P4)Thg of **se collecthons t20 Meihodi81 Churth FurKI Furth for Propety IW•C Meiho(Ik81 Mintsters. Hou$ir#J sogety Suppyi Ic¢ P¥esWer5 and OeBcr 350 4.383 BASINGSTOKE & READING METHODIST CIRCUIT NOTES FORMING PART OF THE FINANCIAL STATEMENTS For th• y•ar 8nded31 August 2020 (confd.) 25 RECONCILtATION OF NET (OUTGOINGV INCOMING RESOURCES TO NET CASH INFLOWS FROM OPERATIONS 2020 2019 Net movement in funds (Gainsylosses on investments Investment properties Olher investrnents Investment income and rent from investrnents Lossllprofitl on sale of fixed assets {Increaseydecrease in debtor5 Increasel{decrease) in Uedit￿$ {67,980) {166.1041 65,905 14.6341 (73.4051 8,250 (98,322} {11.898} {28.650) 4,394 (77,9671 (251.8111 Net cash used In operallng acllvltles {198,5801 Analysls of cash and cash equIval￿ts CFB deposits Cash at bank arKI n hand 347.969 25.015 379.149 21.723 cash used In operating activltles 372.984 400.872