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|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|
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||||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|
##
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||||||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|
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|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|
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|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|
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|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|
##
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|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|