THE LISKEARD AND LOOE METHODIST CIRCUIT YEAR ENDED: 31st AUGUST 2023 The Receipts and Payrnents Account have in1"orntion and explan&ions supplied. Daied this 18 dav of Decemttr. 2023 DAWL HAWKEN & DODD Chartircd Certified .4c¢ounianis CallingtO Cornwall.
Circuit No 12 19 Liskeard & 0e Circult Ind¢pendent EMIneI Report R¢JpoD8lbllllleJ Ind BaJl8 of Report I report to the TTUSt¢es on my examination of the a¢¢ounts of the Liskc8rd & LA)ce Circuit for the yeAr ended 31 Au8usL 2023. A5 the C]ult,8 Iru*es, you or¢ r¢spon$ible for the accounts in Accordanc¢ with the requirements of the Clwities Act 2011 {'th¢ Ace). I rtport in sPeCt of my examination of the Circuit's aoUnts carried out under Sli0n 145 of the Act and. in wryin8 Out my ¢xamination. I hov¢ followed all the applicable Directions given by th¢ ChArity Comrnisston under 8e¢tion 145(5Xb) of the Act. Independent Exthlner'j Stat¢ment I have completed my examination. I confirni that no mat¢riAI matters hav¢ come to my attention in connection with the examination which gave me cause to believe that in. any material resF¢ct'. the a¢countin8 records were not kepi in accordance with section 130 of the Act. or the o¢counts do not accord with the accounting records. I have no concerns and have ¢ome across no other matters in connection with the examination to which attention should b¢ drawn in thiy r¢wirt in order to enable a proper understanding of the wunts to be reached. I hBve not oblained independent verification of investments with the Trustees for Methodi8t 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 £1 0,000 (ten thousand pounds) at the balance sheet date.
Circuit No 12 19 Liskeard & Looe Circuit Ind¢pend¢Dt Ex•mlner's Report (continued) Signature of Independent Examiner ... Name of Ind¢pend¢nt Examiner., Andrew Farr Relevant Professional Qualifi¢atiorA of Independent Examiner.. FCCA Name of Firn]: Dawe, Hawken & Dodd Address.. 52 Fore Street, Callington, Cornwall, PL17 7AJ Date.. 19 January, 2024
| UNRESTRICTED | CIRCUIT RESTRICTED TOTAL | CIRCUIT RESTRICTED TOTAL | |
|---|---|---|---|
| FUNDS | MODEL FUNDS | ||
| TRUST | |||
| FUND | |||
| RECEIPTS | ££ | ||
| Assessment | 89927 | 89927 | |
| Interest and Investment Income | 673 | 8283 | 286 9242 |
| Cirauts | 1000 | 1000 | |
| EL Reeived | 31772 | 3 1772 | |
| Donations | 200 | 200 | |
| IIrerease in Investments | 2258 | 2258 | |
| Other Receipts | 15338 | 15338 | |
| TOTAL RECERTS | 138910 | 10541 | 286 149737 |
| PA-NTS | |||
| Stipends and Salaries | 36634 | 36634 | |
| Expenses incl. Travel Costs | 1679 | 1679 | |
| Manse Costs | 9950 | 9950 | |
| Lay Salaries and Expenses | 14326 | 14326 | |
| Ttlaphone and Etroadband | 2052 | 2052 | |
| Accountancy | 840 | ||
| hisurance | 7305 | ||
| Puhrit Materials | 4592 | ||
| Performing Rights Licence | 1162 | ||
| Plans, Postage, Printing and | |||
| Stationery | 1018 | 1018 | |
| District Assessment | 27448 | 27448 | |
| Training, Development & | |||
| Evangefro | 331 | 331 | |
| Grants and Donations | 1200 | 1200 | |
| "CP Charges and Levy | 10268 | 26 10294 | |
| Qinquenrials | 2215 | 2215 | |
| Legal Fees | 4858 | 4858 | |
| Shared ivfinistry Costs | 1860 | 1860 | |
| Cemetedes and Closed ChLREh Exp- |
10737 | 10737 | |
| Oner Payments | 2789 | 2789 | |
| TOTAL PA¥MEr`ITS | 130996 | 10268 | 26 141290 |
| suRPLus FOR THE TEAR BnFORE | |||
| TENSFERS | 7914 | 273 | 260 8447 |
| TFusFERS | 11573 | 11573 | |
| ®EFICIT)/SURPLUS FOR THE YEAR | |||
| AFTER TRANSFERS | 36591 | 11846 | 260 8447 |
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Circuit No 12 19 Liskeard & Looe Clreuit Balance Sbeet as At 31 Augujt 2023 Notes to The A¢¢ouDts Clrcult Model Dttlgllt Genenhl Fund Trust Funds (UDre8trl¢ted) (Uttre4trleted) (Unre8trlcted) Regtrl¢¢ed Endowment Fundi FndS Totsl 2021n2 2022n3 Flsed Agjeti Circuit Manse8 & Equipment Inveslment ProprtIeS Investments Total Flxed Ajsets 485,148 1,903,920 485.148 1,903,920 411,141 898.576 2 389 068 2389068 1309717 CurreDt AM¢ts D¢btor8 Li)ans by the Circuit Inv¢stments with TMCP Central Finance BoArd Lkposits Cash at Bank fjnd in Hand Totsl CurreDt AJJts 256.312 9,166 464 265,942 18,958 253.836 8,392 18.958 256312 464 319892 311445 Current Uabllltl Creditors (due in under l year) Grants Payabl¢ within 2022123 Total Curren¢ Llabllltlei 840 s,000 5.840 3,840 840 Net C•rreDt As•etslLl*bllltl 256312 464 314052 305 605 Total Auets le41 Curren¢ Llablllil 2437 178 256 312 464 2703 120 1615322
Liskeard & Looe Circuit Circtsit No 12 19 B4lAnce Sheet is at 31 August 2023 (¢ontlnued) Notes 10 The A¢coufftts Clrewlt Model Cenernl Fund DeJlgngted Trust Futtdy {Unrestrl¢ted) (Unreslrlcted) (UDreJtrleted) Relrl¢ted Endowment Fnd9 Tot1 2022n3 Total 2021ll2 Th8 Term LIAbllitle9 (Due after more than l year Grants P8y8ble afler 2022123 Loan$ lo the C1tt et knets 2437 178 256 312 464 2703 120 1615322 Fu•d8 of tbp Clrnult General Fund (Unrestricted) Circuit Mi)del Trust Fund (Unrestricted) D¢si8nated Funds (Unrestricied) Regtrict¢d Funds Endown7ent Funds Total Futhds 2,437 178 256.312 2,437,178 1,361,486 256.312 244,466 9,166 2,093,490 1.605,952 9.166 8,906 464 464 464 464 ?703 120 1615322 2437 178 256312 We confirm thai ihe annual report and account5 tor Ihe year ended 31 August 2023 were presented to the circuit meetAn8 held 13 March 2024 Signature of Chair of meelin8... Name ofchair ofmecling....l4¥,a.I .£... M E.k.LO£,. Signature of Treasurer.. Name of Treasurer.
Circuit No 12 19 LiskeArd & Looe Circuit Bo811 of Aeeountlng The financial statements have been prepared und¢r the Charities Act 2011 in accordance with the 2014 version of Aceounling and Reporting by Charilies.. Statemenl of Recommended Prnctice (SORP) app1tble to charities preparing their 8ccount$ in ordanCe with FRSI 02 - the Charities SORP (FRS102) and taking nole of th¢ Ule Bulletin l issued in 2016. Fund• The funds held ¢onstitut¢'. General Funds held for purpose of the Cir¢uit which ar¢ Unrestri¢ted. The Circuit Model Trust Fund h&8 wide purposes defined in Standin8 Orders and is ¢ategori8¢d A5 unrestricted. Re$tri¢ted ndS which are held for & natrower purpose. Detsils of th material fund are dI10¢d in the fin no* to these accounts. Any funds may be represented by more than just c&sh. Aeeountln8 Pollele8 Ba819 These accounts have been prepared on Ihe basis of histori¢al cost except that investments are shown 8t their market V41uc at the ¢nd of lh¢ year, on the ac¢tuals bg5iS to show a true and fair view of the Circuivs financi&l position and aciiviti¢$. Notes to the AceouDts ID¢omlDg Reree0 Income is included in the St41ement of Financial Activities (SOFA) when the Circuit become¥ entitled to the resourc¢8. and the trustees are reasonably rtain they will receive the resources; and the monetw value can be m¢asured with sutTici¢ni reliability. Resourees Expended This is reco8nised when o liability is incurred, or a constructive obligation ari8es. that results in the p4yment being unavoidable, Liabilities are recolISed as soon as an outflow of economic benefit is Considered more likely than not under the le8al or constructive obligation committin8 the C11t io pay out resourc¢&. Grants Gronts made by the Circuit from its own funds &r¢ recogni8ed In 11 at the time of agrwment or when the Clwuit accepts that there is 4 legal or operAtional obli8ation to make the paym¢nt. VAT Since th¢ Circuit 15 not VAT r¢8iStered, all input VAT ts charged with th¢ expens¢8 to which it fers.
Circuit No 12 19 Liskeard & Looe Circuit Note4 to the Accounts (contlnued) Aceounting Poll¢les (contlnued) T Anglble Flxed Assets for us¢ by the Cir¢uit Tangible fixed Asg¢ts are capitalised if they ¢an be used for more than one year. and cost At le&8t £1,000. The frtthold property 1$ shown in th¢ a¢counts at 750/0 of th¢ 2023 insur¢d values. No depre¢iatiort is provided on the building caUSe the Trusl¢es consider the current residual fair value of the Mans¢ buildings (on the assumption that it had reached the end of its use1 enomiC life by th¢ year end) to be not less than its curreni v91ue. Any d¢prlation would not be m&t¢rial. The property has been r¢viewed for impairnienl. Investment Propertl Investm¢nl properties are shown 81750/0 of th¢ 2023 insur¢d values. No depreciation is provided on the building because ihe truste¢s consider the ¢urrent residual f&ir values are not 1¢$$ than their ¢wrent value8. Any deprccigtion would not be material. These properties h8ve been reviewed for impttimient. Investments Investments are vulu in th¢ balance sh¢¢t at mArket value at the ygar end, Investment inwme is included in the account$ when receivable and any &ins or loJs¢$ on revolu&tion at tho year end ar¢ shown in the SOFA. F¢¢J for ExmlDatlon or Audlt of th¢ Aceounts 2023 2022 Independent Examinef8 Fe¢s for Reporting on the Accounts PAld Employeej Staff Costs Pald during the YeAr we. 2023 2022 Total Staff Costs Avewe Number of fvll-tlme equlvol¢nt Employees ltt the yer.
Circuit No 12 19 Li8keard & IAJoe Circuit Note8 to the Aecounts {eontlnued) Capital Commitments and Contlngent Llabilitie At the 3111 Au8USt 2023 th¢r¢ Are no eapitsl ¢ommitments. No Contingent liabilities were identified at 31 August 2023. TanRJble Flxed A•Mts Inve$tm¢nt Properties MAns TotAI VAluAtIoD Ai 31 August 2022 Revaluation Disposals At 31 Au8USt 2023 411,141 74,007 898,576 1.005.344 1,309,717 1.079.351 485 148 1,903,920 2,389,068 Depreelvddon At 31 August 2022 Additions Dispo15 At 31 Auguit 2023 Net Book Value AI 31 Au8usI 2022 At 31 Au8U8t 2023 411 141 485 148 898.576 1,903,920 1,309,717 2,389,068 Re8trlcted Fund The balance of £9,166 in restricted futkds is the Roy Writer Fund which can b¢ used for any Methodist purpose.
CiwuitNo 12 19 LiskeArd & Looe Clrcuit Notu to Ihe Accounts (¢ontlnued) Payments to Truste¢8 Th¢ following pa)Th¢nts were made to Trustees. These All rel&ted to reimbursement of Circuit costs and primarily relate lo travel and computing Sts. 2023 2022 Number of Truytoty Amount