| Contents | Page | ||
|---|---|---|---|
| Report of | the Trustees | 3-13 | |
| Report of | the Auditors | 1+16 | |
| Methodist | Standard Form ofAccounts |
17 | |
| Statement | of Financial | Activities | 18 |
| Statement | of Financial | Position | 19 |
| Cash Flow | Statement | 20 | |
| Notes to the accounts | 21-26 | ||
| Statement | of Financial | Activities 2017-18 | 27 |
| Notes to | Generalpund | Circuit Model | Total | Total | |||
|---|---|---|---|---|---|---|---|
| the | (Unrestricted) | Tritst | 2019-20 | 2018-19 | |||
| accounts | (Unrestricted) | ||||||
| Income and Endawments | fram: | ||||||
| 1 Donadans and legacies |
|||||||
| 2 Income fiom monetary |
Investments | 1,409 | 2,744 | 4,154 | 4,882 | ||
| 3 income from Investment |
properties | ||||||
| 4 Assassmmts an Olurchm |
465,092 | 465,092 | 492,616 | ||||
| 5 Capital Receipts |
|||||||
| 6 Grants received |
17,000 | 17,000 | |||||
| 7 Rents receivable |
17,828 | 27r$2$ | 17,906 | ||||
| 8Total income | 502B29 | 504,074 | 515,404 | ||||
| Expenditure on: |
|||||||
| 9 Grants and donations |
25,133 | 25,133 | 22,105 | ||||
| 10Salaries and assodated | costs | 300,351 | 300,351 | 2$0,907 | |||
| 11Property maintenance |
70,123 | 70,123 | 44,768 | ||||
| 12Connerdanal assessment |
&model trust levy | ||||||
| 13District Assessment &Levy |
104,952 | 12,616 | 117,568 | 125,849 | |||
| 14 Depreciation | |||||||
| 15Olfice expmlQ$ | 4,547 | 4,547 | 3,491 | ||||
| 16Other outgoings | 57,100 | 629 | 57,730 | 61,000 | |||
| 16bSale of land | |||||||
| 17Total charitable expenditure |
562,206 | 13,245 | 575,452 | 538,120 | |||
| 18Gains/(lasses) on monetary |
investments | -318 | -318 | 1,579 | |||
| 19Gains/(losses) on invesbnent |
properties | ||||||
| 20Net income/(expenditure) | -60,877 | -10,819 | -71I696 | -21,137 | |||
| 21Transfers between funds |
66,795 | -66,795 | |||||
| 22 Other gains/(lasses) | -289,000 | -289,000 | -246,000 | ||||
| 23 Net movement In funds |
-2$3,082 | -77,614 | -360,696 | -267,137 | |||
| 24 Total funds brought forward | 6,567,748 | 326,502 | 6,894,250 | 7,161,387 | |||
| 25Total funds carried forward | 6,2$4,666 | 248,888 | 6i533i554 | 6i894g250 |
| General Fund | Circuit Model | Totals | Totals | |||||
|---|---|---|---|---|---|---|---|---|
| (Unrestricted) | Trust Fund | 2020 | 2019 | |||||
| (Unrestricted) | ||||||||
| Notes | ||||||||
| Fixed Assets | ||||||||
| Grcult Menses Ik E ul ment |
6073000 | 6073000 | 6362 000 | |||||
| Investment | ||||||||
| Investments | 51794 | 51794 | 52 112 | |||||
| Total | IKredassets | 6073000 | 51794 | 6124794 | 6 14112 | |||
| Culveltt Assets | ||||||||
| Debtors and | 40 09 | 40309 | 32675 | |||||
| Loans the |
Grcult | 13 | 11808 | |||||
| Investments | with TMCP | 197094 | 197094 | 262 582 | ||||
| Central Finance Board De | Its | 217657 | 217657 | 244 236 | ||||
| Cash at Bank | and in hand | 21680 | 21680 | 18619 | ||||
| Tonal cllnent aerate | 279646 | 197094 | 476740 | 569920 | ||||
| Current liabilities | ||||||||
| Creditors due In under I |
r | 10 | 67980 | 67980 | 89782 | |||
| Grants ble within 2018-19 |
||||||||
| Total current BaÃIISes | 67980 | 67 980 | 89782 | |||||
| Het | cunent assets Batdl&ss | 211666 | 197094 | 408760 | 480138 | |||
| Totalassets less cuneot liabilities | 6284666 | 248888 | 6533554 | 6 94250 | ||||
| Loans and credltws due alter I year | 11 | |||||||
| 6284666 | 248888 | 6533554 | 6894250 | |||||
| Funds ofthe Circuit | ||||||||
| General Fund |
Un estrkted | 4268799 | 4 268799 | 4 262 881 | ||||
| Grcult Model | Trust Fund | Unrestricted | 248 NB | 248 NB | 326502 | |||
| Revaluation Reserve Unnelrlcted |
2015867 | 2 015867 | 2304 867 | |||||
| Total lln estrtctsd Fondr | 14 | 6284666 | 248888 | 6533554 | 6894250 | |||
| Grcuit Model | Trust Fund (Unrestricted | |||||||
| Desi nabrd | ||||||||
| Endowment | Funds | |||||||
| Total Funds | 6284666 | 248 888 | 6533554 | 6 94250 |
| ash Flow Statement for the |
year end | ed | 31A | u | gust 2020 | ||
|---|---|---|---|---|---|---|---|
| 2020 | 2019 | ||||||
| Cash from operating acavlaes | |||||||
| Net cash used In opeafing activities |
(110,988) | (36,256) | |||||
| Cash flows from investing activities |
|||||||
| Dividends, Interest and rents from investments |
21,982 | 22,783 | |||||
| Proceeds fiom the sale ofproperty, plant and equipment |
|||||||
| Purchase ofproperty, plant and equipment |
|||||||
| Purchase ofIntangible assets | |||||||
| Proceeds from the sale of investments | |||||||
| Purchase ofinvestments | |||||||
| Net cash provided hy Investing activities |
21,982 | 22,783 | |||||
| Cash flows hom Rnandng acthdtles |
|||||||
| New borrowing - loan made to North Watford |
|||||||
| Repayments ofhumoring |
|||||||
| Net cash used in Rnandng acavlues |
|||||||
| Change in cash and cash equivalents | in the reporting | period | 89,006 | (13,737) | |||
| Cash and cash equivahnts at the beginning |
ofthe reporting | period | 525,437 | 539,175 | |||
| Cash and cash equivalents atthe end |
ofthe reporting | period | 436,431 | 525,437 | |||
| Recondgaaon ofnet income to net cash flow from operating |
activities | ||||||
| Net income for the reporung period (as per statement |
offlnandal | acbvitles) | (71,696) | (21,137) | |||
| Adjustments for: |
|||||||
| Depredation and amortisatlon charges |
|||||||
| Profit on the sale offixed assets | |||||||
| Loss on the sale offixed assets | |||||||
| (Gains)/Losses on Investmenls |
318 | (1,579) | |||||
| Dividends, Interest and rents from investments |
(21,982) | (22,783) | |||||
| Decrease/(increase) In sbxks |
|||||||
| (Increase)/decrease In debtors |
4,174 | (5,899) | |||||
| Increase/(decrease) In creditors |
(21,802) | 14,877 | |||||
| Net cash used In operating activities |
(110,988) | (36,526) | |||||
| Analysis ofcash and cash equivalent | |||||||
| Cash in hand | 21,680 | 18,619 | |||||
| Short term deposit (less than 3 months) | 414,751 | 506,818 | |||||
| Total cash and cash equivalents | 436r431 | 525,437 |
| 4Payments to | Trustees | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Payments made |
to Trustees for additional services provided |
Nil | Nil | ||
| to the Circuit | |||||
| Number ofTrustees who were paid expenses | |||||
| These expenses | include travel costs, preaching | fees paid to | |||
| Supernumerary | Ministers, and reimbursement |
of payments | |||
| made on behalf | ofthe Circuit | ||||
| Total amount paid |
5,161 | 6 | 10,056 |
| 5Fees for examination or audit ofthe accounts |
5Fees for examination or audit ofthe accounts |
2020 | 2019 | ||
|---|---|---|---|---|---|
| Auditor's fees for reporting on the accounts |
E3,480 | E3,120 | |||
| Other fees (e.g. advice, accountancy services) |
paid to the auditor | Nil | Nil | ||
| 6Paid employees | 2020 | 2019 | |||
| Staff costs paid during the year were: | |||||
| Gross wages, salaries and benefits in kind |
E230,275 | E214,927 | |||
| Employer's National Insurance costs |
E | 18,617 | E | 17,590 | |
| Pension costs | E | 49,863 | E | 46,605 | |
| Payroll Bureau Fee | E | 480 | E | 480 | |
| Apprenticeship Levy |
E | 1,116 | E | 1,305 | |
| Total staff costs | E300,351 | E280,907 | |||
| Average number ofstaff in the year: | 12 | 12 | |||
| (comprising seven full time and five part-time |
staff) |
| Manses | Equipment | Total | ||
|---|---|---|---|---|
| (Restated) | ||||
| Balance brought | forward | 6,362,000 | 2,919 | 6,364,919 |
| Additions | ||||
| Revaluations | -289,000 | -289,000 | ||
| Disposals | ||||
| Transfers | ||||
| Balance carried | forward | 6,073,000 | 2,919 | 6,075,919 |
| 8Investment assets |
||||||
|---|---|---|---|---|---|---|
| Analysis ofinvestments | Bid Price | |||||
| at year end | ||||||
| f. | ||||||
| Investments listed on a recognised |
Stock Exchange | or held in | Nil | |||
| common investment funds, open ended |
investment | companies, | ||||
| unit trusts or other collective investment | schemes | |||||
| Securities not listed on a recognised | Stock Exchange | Nil | ||||
| Cash held as part ofthe investment | portfolio | Nil | ||||
| Other investments | 51,794 | |||||
| Total | 51,794 | |||||
| Change in investment values |
||||||
| Carrying (market) value at the beginning |
of | the year | 52,112 | |||
| Add: additions to investments at cost |
Nil | |||||
| Less: disposals at carrying value |
Nil | |||||
| Add/(deduct): net gain/(loss) on revaluation |
(318) | |||||
| Carrying (market) value at the end |
ofthe year | 51,794 | ||||
| 9Debtors | ||||||
| 2020 f |
2019 f |
|||||
| Sundry debtors ik prepayments |
40,309 | 32,675 | ||||
| Principally reflecting ministerial stipends |
paid | in advance, and advance payment | ofthe expenses for | |||
| the manses. | ||||||
| 10Creditors due within one year | ||||||
| 2020 | 2019 f |
|||||
| Sundry creditors Ikdeferred income |
67,980 | 89,782 |
| ll Creditors d | ue | after o | ne year | |||||
|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | |||||||
| E | ||||||||
| Sundry creditors | lk | accrued | income | Nil | Nil | |||
| 12Capital Commitments | lk Contingent | Liabilities | ||||||
| 2020 | 2019 | |||||||
| E | E | |||||||
| At the 31 i August, | capital | commitments | amounted | to: | Nil | Nil |
| General reserve equal to 50%ofannual expenditure: |
E | 239,452 | |
|---|---|---|---|
| Manse repair and maintenance reserve: |
E | 25,542 | |
| Reserve from the income from the surplus manse, |
|||
| allocated to support churches with their assessments |
and | ||
| to fund specific projects and appointments: | E | 33,937 | |
| Balance ofreserve available to make grants to Circuit | |||
| churches to support mission projects and necessary |
|||
| work to address health lk safety or accessibility: |
E | 161,623 | |
| Total Reserves (excluding the value ofthe manses) | E | 460,554 |
| Name ofOrcuit | Orcuit No | |||
|---|---|---|---|---|
| West Heltfordshlre and Borders |
34/14 | |||
| Statement ofFlnandal Activities (SOFA)forthe year ended 31August 2019 |
||||
| Notes to | Circuit Madel | |||
| the | General Fund | Trust | Total | |
| aexpunts | (Unrestricted) | (Unrestricted) | 201&-19 | |
| Income | ||||
| 1 Donations and legacies |
||||
| 2 income from monetary Invesbnenls |
1,489 | 3~ | 4,882 | |
| 3 lnmme ham investment properties |
17,906 | 17,906 | ||
| 4 sessnlents on Olurdles |
492t616. | 492r616 | ||
| 5 Capital Recelpls |
||||
| 6 Grants received |
||||
| 7 Other charitable Income |
||||
| 8Total income | 512011 | 515404 | ||
| Expenditure | ||||
| 9 Grants and donagons |
22,105 | 22,105 | ||
| 10Salaries and assodated mals |
280,907 | 280,907 | ||
| 11Property maintenance | 44,768 | 44,768 | ||
| 12Connexional assessment 6model trust levy |
||||
| 13Dlstdct Assessment &Levy |
111,652 | 14,197 | 125,849 | |
| 14Sale ofLand | ||||
| 15Office expenses | 3,491 | 3,491 | ||
| 16Other outgoings | 61,000 | |||
| 17Total chargable expenditure | 523251 | 14869 | 538120 | |
| 18Gains/(losses) on monetary |
Investrnenls | 1,579 | ||
| 19Gains/(losses) on Invesbnent |
properties | |||
| 20 Net income/(expenditure) | -11,240 | -gr897 | -21,137 | |
| 21Tfansfels betwBsl funds | 10,828 | -102O8 | ||
| 22 Other gains/(losses) | 246.000 | -246,000 | ||
| 23 Net movement in funds |
-246 12 | -20725 | -267137 | |
| 24 Total funds brought forward |
6,814,160 | 347,227 | 7,161387 | |
| 25Total funds carried forward | 6567748 | 326502 | 6894250 |