|Contents|||Page| |---|---|---|---| |Report of|the Trustees||3-13| |Report of|the Auditors||14-17| |Methodist|Standard
Form ofAccounts||18| |Statement|of Financial|Activities|19| |Statement|of Financial|Position|20| |Cash Flow|Statement||21| |Notes to the accounts|||22-27| |Statement|of Financial|Activities 2017-18|28| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## # ## ## ## ## ## ||||Notes to|General Fund|Circuit Model|Cloisters|Hall|Total|Total| |---|---|---|---|---|---|---|---|---|---| ||||the|(Unrestricted)|Trust|(Unrestricted)||2020-21|2019-20| ||||accounts||(Unrestricted)||||| |Income and Endowments|from:||||||||| |1
Donations
and legacies|||||||||| |2
Income from monetary|investments|||268|1,329|||1,599|4,154| |3
Income from investment|properties||||||||| |4
Assessments
on Churches||||477,959||||477,959|465,092| |5
Capital Receipts|||||||||| |6
Grants received||||17,000||||17,000|17,000| |7
Rents receivable||||18,387|||5,379|23,766|17,828| |8Total income||||513,614|1,329||5,381|520,325|504,074| |Expenditure
on:|||||||||| |9
Grants and donations||||4,110||||4,110|25,133| |10Salaries and associated|costs|||329,073||||329,073|300,351| |11Property
maintenance||||57,620|||138|57,758|70,123| |12Connexional
assessment|&model trust levy||||||||| |13District Assessment
& Levy||||103,220|8,480|||111,700|117,568| |14Depreciation|||||||||| |15Office expenses||||3,595||||3,595|4,547| |16Other outgoings||||47,425|498||4,822|52,745|57,730| |16b Sale of land|||||||||| |17Total charitable expenditure||||545,044|8,977||4,960|558,981|575,452| |18Gains/(losses)
on monetary||investments|||4,952|||4,952|-318| |19Gains/(losses)
on investment||properties|||||||| |20 Net income/(expenditure)||||-31(430|-2/696||421|-33,704|-71I696| |21Transfers
between
funds||||-2,694|-482||3,176||| |22 Other gains/(losses)||||458,500||922,387||1,380,887|-289,000| |23 Net movement
in funds||||424,376|-3,177|925i984||ii347i182|-360,696| |24 Total funds brought
forward||||6,284,666|248,888|||6,553,554|6,894,250| |25Total funds carried forward||||6,709,043|245,711|925,984||7,880,737|6,533,554| ## |ment of Financial||Position|as at 3|1August 2021||||| |---|---|---|---|---|---|---|---|---| |||||6eneral Fund|Circuit Model|Cloisters Hall|Totals|Totals| |||||(Unrestricted)|Trust Fund|(Unrestricted)|2021|2020| ||||||(Unrestricted)|||| |Fixed Assets||||||||| |Qrcuit Manses &E ui ment||||6,531500|||653i500|6,073,000| |Investment
ro erties||||||882353|882 53|| |Investments|||||56746||56746|Si794| |TotalFuedassets||||6,531500|56g746|882I3S3|7,470,599|6,124,794| |Current Assets||||||||| |Debtors and Pr
ments||||24682|||24682|| |Investments
with TMCP|||||188965||i88965|i97094| |Central Finance Board De|osits|||i91460||37494|228954|217657| |Cash at Bank and in hand||||i5570||6 137|2i706|2i 680| |Total current assets||||231712|188965|43,631|464,307|476740| |Current||liabilities||||||| |Creditors
dueinunderi|ear||10|54169|||54i69|67980| |Grants
a able within 2018-19||||||||| |Total cuIrent liabilities||||54169|||54169|67980| |Net current assetsiiiabilities||||177543|188965|43631|410,138|408,760| |Totalassets bun current||liabilities||6709,043|245 711|925s984|7i$80737|6i533i554| |Loans and creditors due afteriyear|||11|||||| |Netassets||||6,709,043|245,711|925,984|7,$80,737|6,533554| |Funds of||the Circuit||||||| |General
Fund
Unrestricted||||4234676|||4234676|4268799| |Qrcuit Model Trust Fund|Unrestri||||2457ii||2457ii|248888| |Revaluation
Reserve
Unrestricted||||2474367|||2,474367|2015867| |Qoisters Hall
Unrestrict||||||925 984|925984|| |TotalUnnstrictedFunds||||6,709,043|245,711|925,984|7,$80,737|6S33554| |Circuit Model Trust Fund|(Unrestricted|||||||| |||Desi nated||||||| |Endowment
Funds||||||||| |Total Funds||||6,709,043|245 711|925I984|7g8$01737|6,533,554| ## ## ||||||||2021|2020| |---|---|---|---|---|---|---|---|---| |||||||Note||| |Cash from operating
activities||||||||| |Net cash used
in operating
activities|||||||(62~205)|(110~988)| |Cash flows from investing
activities||||||||| |Dividends,
interest and rents from investments|||||||25,365|21,982| |Proceeds from the sale of property,
plant and equipment||||||||| |Purchase of property,
plant and equipment||||||||| |Purchase of intangible
assets||||||||| |Proceeds from the sale of investments||||||||| |Purchase of investments||||||||| |Other||||||||| |Net cash provided
by investing
activities|||||||25,365|21,982| |Cash flows from financing
activities||||||||| |New borrowing
- loan made to North Watford||||||||| |Repayments
of borrowing||||||||| |Net cash used in financing
activities||||||||| |Other Cash Flows||||||||| |Cash and Cash Equivalents —Cloisters
Hall|transferred|to the|Circuit||on 1 April 2021||40,034|| |Change in cash and cash equivalents|in the reporting||period||||3,194|(89,006)| |Cash and cash equivalents
at the beginning|ofthe reporting||period||||436,431|525,437| |Cash and cash equivalents
at the end|ofthe reporting||period||||439,625|436,431| |Reconciliation ofnet income to net cash flow from o|||eratin||activities|||| |Net income for the reporting
period (as per statement||of financial||activities)|||(33,704)|(71,696)| |Adjustments
for:||||||||| |Depreciation
and amortisation
charges||||||||| |Profit on the sale of fixed assets||||||||| |Loss on the sale offixed assets||||||||| |(Gains)/Losses
on investments|||||||(4,952)|318| |Dividends,
interest and rents from investments|||||||(25,365)|(21,982)| |Decrease/(increase)
in stocks||||||||| |(increase)/decrease
in debtors|||||||15,627|4,174| |increase/(decrease)
in creditors|||||||(13,811)|(21,802)| |Net cash used in operating
activities|||||||(62,205)|(110,988)| |Anal sis ofcash and cash e uivalent||||||||| |Cash in hand|||||||21,706|21,680| |Short term deposit (less than 3 months)|||||||417,919|414,751| |Total cash and cash equivalents|||||||439,625|436,431| ## ## ## ## ## ## ## ## ## ## ## |4 Payments to|Trustees|||||| |---|---|---|---|---|---|---| |||||2021||2020| |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|||E|4,931|E|5,161| |5 Fees for examination
or audit ofthe accounts|5 Fees for examination
or audit ofthe accounts||2021||2020| |---|---|---|---|---|---| |Auditor's fees for reporting
on the accounts|||E3,800|E3,480|| |Other fees (e.g. advice, accountancy
services)|paid to the auditor||Nil||Nil| |6 Paid employees|||2021||2020| |Staff costs paid during the year were:|||||| |Gross wages, salaries and benefits
in kind||E249,655||E230,275|| |Employer's
National
Insurance
costs||E|20,704|E|18,617| |Pension costs||E|57,795|E|49,863| |Payroll Bureau Fee|||480|E|480| |Apprenticeship
Levy||E|1,416|E|1,116| |Total staff costs||E330,050||E300,351|| |Average number ofstaff in the year:|||12||12| |(comprising
seven
full time and five part-time|staff)||||| |||Manses|Equipment|Investment|Total| |---|---|---|---|---|---| |||||Property-
Cloisters|(Restated)| |||||Hall|| |Balance brought|forward|6,073,000|2,919||6,075,919| |Additions||||882,353|| |Revaluations||458,500|||458,500| |Disposals|||||| |Transfers|||||| |Balance carried|forward|6,531,500|2,919|882,353|6,534,419| ## |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|||||||56,746|| |Total|||||||56,746|| |Change
in investment
values||||||||| |Carrying
(market) value at the|beginning||ofthe year||||51,794|| |Add: additions to investments|at cost||||||Nil|| |Less: disposals at carrying
value|||||||Nil|| |Add/(deduct):
net gain/(loss)|on revaluation||||||4,952|| |Carrying
(market) value at the|end|ofthe year|||||56,746|| |9Debtors||||||||| ||||||||2021|2020| |Sundry debtors
fk prepayments||||||24,682||40,309| |Principally
reflecting
ministerial|stipends||paid in advance,||and advance||payment ofthe expenses for|| |the manses.||||||||| ## ## |Statement ofFinancial|Activ|ities (SOFA)for the|year ended 31A|ugust 202|0||| |---|---|---|---|---|---|---|---| ||||Notes to|||Circuit Model|| ||||the|General|Fund|Trust|Total| ||||accounts|(Unrestricted)||(Unrestricted)|2019-20| |Income|||||||| |1
Donations
and legacies|||||||| |2
Income from monetary|investments||||1,409|2,744|4,154| |3
Income from investment|properties||||||| |4
Assessments
on Churches|||||465,092||465,092| |5
Capital Receipts|||||||| |6
Grants received|||||17,000||17/000| |7
Rents receivable|||||17,828||17/828| |8Total income|||||501329|2,744|504,074| |Expenditure|||||||| |9
Grants and donations|||||25,133||25,133| |10Salaries and associated|costs||||300,351||300,351| |11Property
maintenance|||||70,123||70,123| |12Connexional
assessment|h model trust levy||||||| |13District Assessment
&.Levy|||||104,952|12,616|117/568| |14Sale of Land|||||||| |15Office expenses|||||4,547||4,547| |16Other outgoings|||||57,100|629|57,730| |17Total charitable
expenditure|||||562 206|13245|575452| |18Gains/(losses)
on monetary||investments||||-318|-318| |19Gains/(losses)
on investment||properties|||||| |20 Net income/(expenditure)|||||-60/877|-10/819|-71/696| |21Transfers
between
funds|||||66,795|-66,795|| |22 Other gains/(losses)|||||-289.000||-289,000| |23 Net movement
in funds||||-283082||-77614|-360696| |24 Total funds brought
forward||||6,567,748||326,502|6,894,250| |25Total funds carried forward||||6|284666|248,888|6,533,554|