Name of Circuit
Circuit No 14/13
North Norfolk Methodist Circuit
Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Notes to
| the account s Income 1 Donations and legacies 2 Income from monetary investments 3 Income from investment properties 1 4 Assessments on Churches 5 Capital Receipts 6 Grants received 7 Other charitable income 1 8Total income Expenditure 9 Grants and donations 5 10 Salaries and associated costs 2 11 Property maintenance 3 12 Connexional assessment & model trust levy 13 District Assessment & Levy 14 Depreciation 15 Office expenses 4 16 Other outgoings 6 17Total charitable expenditure 18 Gains/(losses) on monetary investments 19 Gains/(losses) on investment properties 20Net income/(expenditure) 21 Transfers between funds 22 Other gains/(losses) 23Net movement in funds 24 Total funds brought forward 25 Total funds carried forward |
General Fund (Unrestricted) Circuit Model Trust (Unrestricted) Designated Funds (unrestricted) Restricted Funds Endowment Funds Total 2022-23 £ £ £ £ £ £ - - - 1,548 9,559 11,107 7,550 - 7,550 170,873 - 170,873 - 297,526 297,526 - - - 6,254 - 6,254 |
|---|---|
| 186,225 307,085 - - - 493,310 |
|
| 9,684 160,724 170,408 156,503 - 156,503 17,792 - 17,792 - 89,358 89,358 41,581 - 41,581 - - - 8,367 - 8,367 12,261 - 12,261 |
|
| 246,188 250,082 - - - 496,270 |
|
| - - - - - - |
|
| (59,963) 57,003 - - - (2,960) 29,351 (29,351) - - - - |
|
| (30,612) 27,652 - - - (2,960) 109,410 232,191 341,601 |
|
| 78,798 £ 259,843 £ - - - 338,641 £ |
North Norfolk Methodist Circuit
Name of Circuit
Circuit No 14/13
Balance Sheet as at 31 August 2023
| Fixed Assets | Notes to the Accounts |
GN Totals 2021/22 £ 1,127,660 R 205,087 R - 1,332,747 - S - 232,190 58,269 T 51,141 341,600 - U - V - 341,600 1,674,347 - V - - 1,674,347 £ W 1,442,157 232,190 W - 1,674,347 - - 1,674,347 £ |
|||||||
|---|---|---|---|---|---|---|---|---|---|
General Fund (Unrestricted) £ |
Circuit Model Trusts (Unrestricted) £ |
Designated Funds (Unrestricted) £ |
Restricted Funds £ |
Endowment Funds £ |
Totals 2022/23 £ |
||||
| Circuit Manses & Equipment | 1,334,031 | 1,334,031 | |||||||
| Investmentproperties | 242,620 | 242,620 | |||||||
| Investments | - | ||||||||
| Total fixed assets | 1,576,651 | - | - | - | - | 1,576,651 | |||
| Current Assets | |||||||||
| Debtors | - | - | - | - | - | - | |||
| Loans bythe Circuit | - | - | - | - | - | - | |||
| Investments with TMCP | - | 259,843 | - | - | - | 259,843 | |||
| Central Finance Board Deposits | 44,153 | - | - | - | - | 44,153 | |||
| Cash at Bank and in hand | 34,645 | - | - | - | - | 34,645 | |||
| Total current assets | 78,798 | 259,843 | - | - | - | 338,641 | |||
| Current liabilities | |||||||||
| Creditors (due in under 1 year) | - | - | - | - | - | - | - | ||
| Grantspayable within 2022-23 | - | - | - | - | - | - | - | ||
| Total current liabilities | - | - | - | - | - | - | - | ||
| Net current assets/liabilities | 78,798 | 259,843 | - | - | - | 338,641 | 341,600 | ||
| Total assets less current liabilities | 1,655,449 | 259,843 | - | - | - | 1,915,292 | 1,674,347 | ||
| Long term liabilities (due after more than oneyear) |
|||||||||
| Grantspayable after 2022-23 | - | - | - | - | - | - | |||
| Loans to the Circuit | - | - | - | - | - | - | |||
| - | |||||||||
| Net assets | 1,655,449 £ |
259,843 £ |
- £ |
- £ |
- £ |
1,915,292 £ |
|||
| Funds of the Circuit | |||||||||
| General Fund(Unrestricted) | 1,655,449 | 259,843 | - | 1,655,449 | 1,442,157 | ||||
| Circuit Model Trust Fund (Unrestricted) |
259,843 | 259,843 | 232,190 | ||||||
| Designated Funds (Unrestricted) | - | - | - | ||||||
| Total Unrestricted Funds | 1,915,292 | 1,674,347 | |||||||
| Restricted Funds | - | - | - | ||||||
| Endowment Funds | - | - | - | ||||||
| Total Funds | 1,655,449 £ |
259,843 £ |
- £ |
- £ |
- £ |
1,915,292 £ |
1,674,347 £ |
Signed
Circuit Treasurer
| North Norfolk Methodist Circuit (No 14/13) Receipts and Payments 2022/2023 Notes to the accounts Note Description 1 Other receipts Rent - Hickling Manse Lay employee contributions North Walsham & Aylsham Payment from churches for offering envelopes and prayer handbooks East Runton licence fee (Cromer Baptists) Donations towards Rev Sharon Thraves and Deacon Lemia Nkwela leaving gifts Refund of expenses re sale of Smallburgh chapel Refund of expenses re sale of West Runton chapel Refund of expenses re sale of Barton Turf chapel Energy rebate re North Walsham manse Funeral fee received District Travel fund refund Sundry 2 Stipends etc Minister stipends, pension, NIC, Apprenticeship levy and travel Salaries and expenses for Lay Employees Salary and expenses PA to Superintendent Salary and expenses circuit administrator 3 Manse costs Manse overheads - council tax, water rates etc Manses upkeep Insurance 4 Administration etc Office and admin Minister telephones 5 Grants and donations Weybourne Singing the Faith books Sheringham fridges Trunch cooker Warm spaces grants to circuit churches North Walsham plumbing leak repair Aylsham door locks & heater Aylsham hall curtains Gresham external painting Hickling kitchen initial advance Reepham Tot Spot toys North Walsham kitchen electrics & shed From general funds North Walsham projector North Walsham kitchen Reepham kitchen/toilet Cromer kitchen North Walsham fire doors Sheringham redecorations Trunch doors Aylsham cottages Reepham windows From Circuit Model Trust Fund |
£ 7,550.40 - 636.19 2,700.00 1,300.00 - 930.00 470.00 - 217.00 - - 13,803.59 £ 113,647.33 29,449.26 - 13,406.07 156,502.66 £ 7,247.86 8,780.84 1,763.07 17,791.77 £ 6,688.74 1,678.02 8,366.76 £ - - 429.99 1,680.00 208.87 494.60 1,095.02 776.00 5,000.00 - - 9,684.48 - 50,000.00 50,000.00 47,894.43 1,541.45 832.00 456.00 10,000.00 - 160,723.88 170,408.36 £ |
2021/22 £ 7,550.40 5,000.00 167.61 2,100.00 - 470.00 - - 150.00 - 300.00 - |
|---|---|---|
| 15,738.01 £ |
||
| 115,842.59 36,807.87 3,944.86 5,517.30 |
||
| 162,112.62 £ |
||
| 6,983.75 4,433.53 1,536.91 |
||
| 12,954.19 £ |
||
| 6,687.38 1,284.87 |
||
| 7,972.25 £ |
||
| 60.40 279.98 - - - - - - - 280.10 417.36 |
||
| 1,037.84 | ||
| 1,643.21 - - - - 1,431.60 - - 720.00 |
||
| 3,794.81 | ||
| 4,832.65 £ |
North Norfolk Methodist Circuit (No 14/13) Receipts and Payments 2022/2023 Notes to the accounts
| North Norfolk Methodist Circuit (No 14/13) Receipts and Payments 2022/2023 Notes to the accounts |
||
|---|---|---|
| Note Description 6 Other payments Preaching fees General travel East Runton insurance, property repairs and utilities West Runton insurance, property repairs, fees and utilities Training Quinquennials Local preachers' conference Supernumeraries meal and gifts Smallburgh insurance, property repairs, fees and utilities Barton Turf surveyor's fees and disbursements re sale Rev Sharon Thraves and Deacon Lemmy Nkwelah leaving gifts & meal Donation to Methodist Women in Britain Laptops for lay workers and circuit administrator Professional fees re interest in Corpusty land Sundry From general funds Other payments CMTF District Annual levy Connexional levy on sale of chapels TMCP administration charge Total Transfers and adjustments - Funds withdrawn from CMTF Transfer to fund work on N Walsham manse Transfer to fund live streaming equipment Transfer to fund laptops for lay employees Lay Employee salaries 2023-24 Lay Employee salaries 2022-23 Salary circuit administrator 2023-24 Salary circuit administrator 2022-23 Connexional and Charity Funds LWPT (Local Preachers and Worship Leaders Trust) World Mission Mission In Britain Fund for Property FSPD (Fund for the Support of Presbyters and Deacons) MMHS (Methodist Ministers Housing Society) MHA (Methodist Homes for the Aged) District Benevolent Fund Methodist Church Fund All We Can Designated Funds Manses maintenance Removals reserve Training budget Bursary Fund |
£ 2,475.00 2,498.35 3,630.79 290.25 1,495.00 - - - - - 1,636.25 100.00 134.90 - - 12,260.54 £ 8,551.41 80,144.96 661.74 89,358.11 £ 101,618.65 £ 3,780.00 - - 10,516.00 - 15,055.00 - 29,351.00 £ 165.00 363.00 408.00 300.00 275.00 155.00 258.00 190.00 100.00 100.00 2,314.00 £ - 6,000.00 2,662.78 297.00 8,959.78 £ |
2021/22 £ 2,125.00 1,936.71 1,778.02 3,131.21 37.75 2,479.20 126.00 176.71 576.42 470.00 - - 1,871.85 - - |
| 14,708.87 £ |
||
| 4,906.54 46,107.04 453.98 |
||
| 51,467.56 £ |
||
| 66,176.43 £ |
||
| - 1,003.97 1,871.85 - 31,270.00 - 13,645.00 |
||
| 47,790.82 £ |
||
| 165.00 275.00 320.00 600.00 275.00 155.00 130.00 205.00 - 702.00 |
||
| 2,827.00 £ |
||
| 566.47 4,000.00 3,157.78 297.00 |
||
| 8,021.25 £ |
Circuit: North Norfolk No. 14/13
Independent Examiner’s Report to the Trustees of the North Norfolk Methodist Circuit
For the year ended 31 August 2023
Responsibilities and basis of report
I report to the trustees on my examination of the accounts of the North Norfolk Methodist Circuit for the year ended 31 August 2023 set out on pages 1 to 3 plus notes showing total cash funds held at the balance sheet date of £338,641. 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.
Independent Examiner’s Statement
The Circuit’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales
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
-
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 which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date.
David Wright FCA Wright Accountancy 83 Cromwell Road, Norwich NR7 8XJ
28 June 2024