| 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 | Total | Total | |||
|---|---|---|---|---|---|---|---|---|
| the | (Unrestricted) | Trust | Hall | 2021-22 | 2020-21 | |||
| accounts | (Unrestricted) | |||||||
| Income and Endowments | from: | |||||||
| I Donations and legacies |
215 | 215 | ||||||
| 2 Income from monetary |
investments | 561 | 1,878 | 173 | 2,612 | 1,599 | ||
| 3 Income from investment |
properties | 9,280 | 9,280 | |||||
| 4 Assessments on Churches |
468,062 | 468,062 | 477,959 | |||||
| 5 Capital Receipts |
||||||||
| 6 Grants received |
17,000 | 17,000 | 17,000 | |||||
| 7 Rents receivable |
20,990 | 20,990 | 23,766 | |||||
| 8Total income | 506,828 | 1,878 | 9,453 | 518,159 | 520,325 | |||
| Expenditure on: |
||||||||
| 9 Grants and donations |
450 | 450 | 4,110 | |||||
| 10Salaries and associated | costs | 333,497 | 333,497 | 329,D73 | ||||
| 11Properly maintenance |
34,968 | 141 | 35,109 | 57,758 | ||||
| 12Connexional assessment |
&model trust levy | |||||||
| 13District Assessment & Levy |
99,936 | 8,052 | 107,988 | 111,700 | ||||
| 14Depredation | ||||||||
| 15Office expenses | 3,537 | 3,837 | 3,595 | |||||
| 16Other outgoings | 81,024 | 700 | 9,811 | 91,535 | 52,745 | |||
| 16b Sale of land | ||||||||
| 17Total charitable expenditure |
553,715 | 8,752 | 9,952 | 572+16 | 558,981 | |||
| 18Gains/(losses) on monetary |
investments | -5,466 | SI466 | 4,952 | ||||
| 19Gains/(losses) on investment |
properties | |||||||
| 20Net income/(expenditure) | -46,884 | -12,340 | -59,723 | -33,704 | ||||
| 21Transfers between funds |
-82 | -743 | 825 | |||||
| 22 Other gains/(losses) | 930,500 | 930,500 | 1,380,887 | |||||
| 23 Net movement in funds |
883,534 | -13,083 | 326 | 870,777 | 1,347,183 | |||
| 24 Total funds brought forward |
6,709,043 | 245,711 | 925,984 | 7,880,738 | 6,553.555 | |||
| 25Total funds cerned forward | 7,592,577 | 232,628 | 926,310 | 8,751,514 | 7,880,738 |
| General | General | Fund | Fund | Chvsdt Model | Cloisters | Totals | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (unrestricted) | Trust Fund | Hall | 2021 | |||||||||
| (unrestricted) | ||||||||||||
| Fixed Assets | ||||||||||||
| Gmult Mantes BUNdln 589E Ul nWlt |
7 | 462000 | 7462 | MO | 6 31500 | |||||||
| invesiulwlt es |
882 | 353 | 882353 | |||||||||
| invesimenis | 51 80 | 51 | 80 | |||||||||
| TofnfTrsnrf assam | 5 280 | 8829353 | 395633 | 7 70599 | ||||||||
| Cununt Assets | ||||||||||||
| Debtms and ents |
28 | 492 | ||||||||||
| Invesbnents wth TMCF |
181348 | 181348 | 188965 | |||||||||
| Cereal Finance Board iis |
137265 | 41667 | 178932 | 228954 | ||||||||
| Cash at Bank and in hand | 2289 | 21706 | ||||||||||
| 177914 | 181 | |||||||||||
| Cuwunt | liabilities | |||||||||||
| Credltols dUe in Undu' 1 ear |
10 | 47 | 36 | 47 | 336 | |||||||
| Grants ble wshin 2018-19 Toarlcnnent~ |
47 | 36 | 47 | 6 | ||||||||
| Netcunnntarnahr | nafnlrbs | 130578 | 181348 | 43957 | 355882 | 410139 | ||||||
| Totsll assear lsnn currant EaMities | 7 | 592,577 | 9 | |||||||||
| Loans and aeditom due aner | 1year | |||||||||||
| Interacts | 7 | 9 577 | 23 628 | 926309 | 875 | 14 | 788073S | |||||
| Funds ofthe Circuit | ||||||||||||
| Genwsi Fund Unnwirlcted |
4787710 | 4787710 | 4234 | 76 | ||||||||
| Gr«uit Madel Trust Fund Unrestridad |
232 628 | 232 628 | 245711 | |||||||||
| Revaluation Reserve unrestricted |
2804 | 7 | 2,8042i67 | 2474 | 7 | |||||||
| Goislers Hall |
926309 | 926310 | ||||||||||
| Toeslllnmsrrrctnrf Tvnrrts |
13 | 7 | T/7 | 232628 | 926309 | 75 | 14 | |||||
| Grcuit Model Trust Fund (Unnubicted | ||||||||||||
| Desi nated | ||||||||||||
| Endowment Funds |
||||||||||||
| Tohri Ftrnrfs | 7 | 9 | 577 | 926309 | 875 | 14 |
| ash Flow Statement for the | year end | ed | 31A | u | gust 2022 | |||
|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||
| Note | ||||||||
| Cash from operating acbvities |
||||||||
| Net cash used in operabng activities |
(88,501) | (62,205) | ||||||
| Cash flows from investing activities |
||||||||
| Dividends, interest and rents from investments |
23,602 | 25,365 | ||||||
| Proceeds from the sale ofproperty, 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 invesbng acbvities |
23,602 | 25,365 | ||||||
| Cash flows from financing a*ivities | ||||||||
| New borrowing - loan made to North wafford |
||||||||
| Repayments ofborrowing |
||||||||
| 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 | (64,899) | 3,194 | ||||
| Cash and cash equivalents at the beginning |
ofthe reporting | period | 439,625 | 436,431 | ||||
| Cash and cash equivalents atthe end |
ofthe reporbng | period | 374,726 | 439,625 | ||||
| Reconciliabon ofnet income to net cash flow from o | cretin | activities | ||||||
| Net income for the reporting period (as per statement |
offinancial | activities) | (59,723) | (33,704) | ||||
| Adjustments fol'i |
||||||||
| Depreciation and amoitisation charges |
||||||||
| Profit on the sale offixed assets | ||||||||
| Loss on the sale offixed assets | ||||||||
| (Gains)/Losses on investments |
5,466 | (4,952) | ||||||
| Dividends, interest and rents from investments |
(23,602) | (25,365) | ||||||
| Decrease/(increase) in stacks |
||||||||
| (increase)/decrease in debtors |
(3,810) | 15,627 | ||||||
| increase/(decrease) in creditors |
(6,833) | (13,811) | ||||||
| Net cash used in operating acgvities |
(88,501) | (62,205) | ||||||
| Anal sis ofcash and cash e uivalent | ||||||||
| Cash in hand | 14,446 | 21,706 | ||||||
| Short term deposit (less than 3 months) | 360,280 | 417,919 | ||||||
| Total cash and cash equivalents | 374,726 | 439,625 |
| 4 Payments to | Trustees | |||||
|---|---|---|---|---|---|---|
| 2022 | 202 | |||||
| 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 | 2/545 | E | 4,931 |
| 5Fees for examination or audit ofthe accounts |
5Fees for examination or audit ofthe accounts |
2022 | 2021 | ||
|---|---|---|---|---|---|
| Auditor's fees for reporting on the accounts |
E4,200 | E3,800 | |||
| Other fees (e.g. advice, accountancy services) |
paid to the auditor | Nil | Nil | ||
| 6Paid employees | 2022 | 2021 | |||
| Staffcosts paid during the year were: | |||||
| Gross wages, salaries and benefits in kind |
E252,542 | E249,655 | |||
| Employer's National Insurance costs |
E | 21,611 | E | 20,704 | |
| Pension costs | E | 57,608 | E | 57,795 | |
| Payroll Bureau Fee | E | 480 | E | 480 | |
| Apprenticeship Levy |
E | 1/256 | E | 1,416 | |
| Total staff costs | E333,497 | E330,050 | |||
| Average number ofstaff in the year: | 12 | 12 | |||
| (comprising seven full time and five part-time |
staff) |
| Manses lk |
Equipment | Investment | Total | |||
|---|---|---|---|---|---|---|
| Buildings | Property— Cloisters |
(Restated) | ||||
| Hall | ||||||
| Balance | brought forward | 6,531,500 | 2,919 | 882,353 | 7,416,772 | |
| Additions | (Markyate | Church) | 600,000 | 600,000 | ||
| Revaluations | 330,500 | 330,500 | ||||
| Disposals | ||||||
| Transfers | ||||||
| Balance | carried forward | 7/462/000 | 2/919 | 882,353 | 8,347/272 |
| 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 | 51,280 | |||||
| Total | 51,280 | |||||
| Change in investment values |
||||||
| Carrying (market) value at the beginning |
ofthe year | 56,749 | ||||
| Add: additions to investments at cost |
Nil | |||||
| Less: disposals at carrying value |
Nil | |||||
| Add/(deduct): net gain/(loss) on revaluation |
(5,466) | |||||
| Carrying (market) value at the end |
ofthe year | 51,280 | ||||
| 9Debtors | ||||||
| 2022 f |
2021 f |
|||||
| Sundry debtors 8 prepayments | 28,492 | 24,682 | ||||
| Principally reflecting ministerial stipends |
paid | in advance. | ||||
| 10Creditors due within one year | ||||||
| 2022 f |
2021 f |
|||||
| Sundry creditors ik deferred income |
47,336 | 54,169 |
| Name of Circuit | Circ | uit No |
|||||
|---|---|---|---|---|---|---|---|
| West Hertfordshire and Borders |
34/14 | ||||||
| Statement ofFinancial Achvities (SOFA) forthe year ended | |||||||
| 31August 2021 | |||||||
| Notes to the accounts |
General Fund (Unrestricted) |
Circuit Model Trust (Unrestricted) |
Cloisters Hall |
Total 2020-21 |
|||
| Income | |||||||
| 1 Donations and legacies |
|||||||
| 2 Income from monetary investments |
1,329 | 2 | 1,599 | ||||
| 3 Income from investment properties 4 Assessments on Churches |
47/,959 | 477,959 | |||||
| 5 Capital Receipts 6 Grants received |
17,000 | 17,000 | |||||
| 7 Rents receivable |
18,387 | 5,379 | 23,766 | ||||
| 8Total income | 513614 | 1329 | 5381 | 520325 | |||
| Expenditure | |||||||
| 9 Grants and donations |
4,110 | 4,110 | |||||
| 10Salaries and associated costs | 329,073 | 329,073 | |||||
| 11Property maintenance | 57,620 | 138 | 57,758 | ||||
| 12 Connexional assessment &model trust levy |
|||||||
| 13 District Assessment lk Levy |
103,220 | 8,480 | 111,700 | ||||
| 14Sale of Land | |||||||
| 3,595 | |||||||
| 15Office expenses | 3,595 | ||||||
| 16Other outgoings | 47,425 | 498 | 4,822 | 52,745 | |||
| 17Total charitable expenditure |
8977 | 4960 | 558981 | ||||
| 18Gains/(losses) on monetary |
investments | 4,952 | 4,952 | ||||
| 19Gains/(losses) on investment |
properties | ||||||
| 20Net income/(expenr(iture) | -31,430 | -2,696. | 421 | -33,704 | |||
| 21Transfers between funds |
-2,694 | -482 | 3,176 | ||||
| 22 Other gains/(losses) | 458,500 | 922,387 | 1,380,887 | ||||
| 23 Net movement in funds |
424376 | -3177 | 925984 | 1 | 347182 | ||
| 24Total funds brought forward |
6,284,666 | 248,888 | 6,553,554 | ||||
| 25Total funds carried forward | 6709043 | 245711 | 925,984 | 7 | 880737 |