2023-08-31-accounts - West Hertfordshire And Borders Methodist Circuit

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Contents			Page
Report of	the Trustees		3-14
Report of	the Auditors		15-18
Methodist	Standard Form ofAccounts		19
Statement	of Financial	Activities	20
Statement	of Financial	Position	21
Cash Flow	Statement		22
Notes to the accounts			23-28
Statement	of Financial	Activities 2017-18	29

==> picture [313 x 216] intentionally omitted <==

==> picture [133 x 15] intentionally omitted <==

==> picture [13 x 9] intentionally omitted <==

			Notes to	General Fund	Circuit Model	Cloisters	Total	Total
			the	(Unrestricted)	Trust	Hall	2022-23	2021-22
			accounts		(Unrestricted)
Income and Endowments	from:
1 Donations and legacies								215
2 Income from monetary	investments			5,715	28,393		34,108	2,612
3 Income from invesbnent	properties					1,075	1,075	9,280
4 Assessments on Churches				458,551	2,713		461,264	468,062
5 Capital Receipts					941,553		941,553
6 Grants received				17,000			17,000	17,000
7 Other charitable income				36,415	5,897	550	42,862	20,990
8Total income				517,681	978,556	1,625	1,497,862	518,159
Expenditure on:
9 Grants and donations				56,131			56,131	450
10Salaries and associated	costs			305,232			305,232	333,497
11Property maintenance						708	49,149	35,109
12Connexional amassment	&model trust levy
13 District Assessment &Levy				102,676	7,507		110,183	107,988
14Depreciation
15Ofhce expenses				1,246			1,246	3,837
16Other outgoings				75,743	4,612	8,796	89,151	91,535
16b Sale of land
17Total charitable expenditure				589,469	12,119	9,504	611,092	572,416
18Gains/(losses) on monetary		investments			-2,739		-2,739	-5,466
19Gains/(losses) on investment		properties
20Net income/(expenditure)				-71,788	963,698	-7,879	884,031	-59,723
21Transfers between funds				130,664	-94,586	-36,078
22 Other gains/(losses)				113,000			113,000	930,500
23 Net movement in funds				171,876	869,112	-43,957	997,031	870,777
24 Total funds brought forward				7,592,576	232,628	926,310	8,751,514	7,880,738
25Total funds carried forward				7,764,452	1,101,740	882,353	gi748I545	8I751514

						General	Fund	Circuit Model	Cloisters	Cloisters	Totals 2023		Totals
						(Unrestrl	dad)	Trust Fund	Ha8				2022
								(Unrestricted)
					Notus
Fixed Assets
Grcuit Manses	Buildin 8 E			i ment		7575000					7575000	7462000
Investment o	'es										882353		882353
Investments													51280
	Total IRredassets					7~575~000		48~541	882353		8 05 94	8	5633
							26508				26508		28492
Investments wah TMCP								1053199			I053199		181348
Central nuance	Board De	sits				205 153					205 153		178932
Cash at Bank and in hand							8247				8247		14446
Totalcunaot	assets					239908		j.053199			1293107		403,218
	Current liabilities
Creditors due in under I			ar		10		50456				50456		47 337
Grants ble	within 2023-24
Total cunant	liabilities					50 56					50 56		47B37
net cunuot assets liabilitres						189452					2 451		355881
Totalasseia less current			liabilities			7,764,452		1101740	882,353		9,748,545	8,751,514
Loans and creditors due aRer Iyear					11
						7764 52		1r101740	88 353		9748 545	BI751 14
	Funds	ofthe Grcuit
General Fund	nrestricted					5078938			882	353	5961291		4787710
Circuit Model Trust Fund		Unrestrict						I101740			1,101,740		23 628
Revaluabon Reserve Unnslricted						2~685 514					2 685514		804867
Goisters Hall													926309
Total tlnresbictad Funrts						7,7	452	1101740	88	353	9748545	875 514
Grcuit Model	Trust Fund		(Unrestricted
			Desi nated
Endowment Funds
Total Funds						7764452		1101740		353	97 545		75 514

Cash Flow Statement for the year ended 31August 2023	Cash Flow Statement for the year ended 31August 2023	Cash Flow Statement for the year ended 31August 2023	Cash Flow Statement for the year ended 31August 2023	Cash Flow Statement for the year ended 31August 2023	Cash Flow Statement for the year ended 31August 2023
							2023	2022
						Note
Cash from operating acbvities
Net cash used in operating acgvities							848,118	(88,501)
Cash flows from Investing actfvfifes
Dividends, interest and rents from investments							43,755	23,602
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Purchase of intangible assets
Proceeds from the sale ofinvestments
Purchase of investments
Other
Net cash provided by investing activities							43,755	23,602
Cash flows from financing activities
New borrowing - loan made to North Watford
Repayments of borrowing
Net cash used in finandng activities
Other Cash Rows
Cash and Cash Equivalents —Cloisters Hall	transferred	to the Circuit			on 1 April 2021
Change in cash and cash equivalents	in the reporbng		period				891,873	(64,899)
Cash and cash equivalents at the beginning	ofthe reporting		period				374,726	439,625
Cash and cash equivalents atthe end	ofthe reporbng		period				1,266,599	374,726
Reconciliation ofnet income to net cash flow from o			erati		activities
Net income for the reporting period (as per statement		offinandal		activities)			884,031	(59,723)
Adjustments for:
Depreciation and amortisation charges
Profit on the sale offixed assets
Loss on the sale of fixed assets
(Gains)/Losses on investments							2,739	5,466
Dividends, interest and rents from investments							(43,755)	(23,602)
Decrease/(increase) in stodrs
(increase)/decrease in debtors							1,984	(3,810)
increase/(decrease) in creditors							3,119	(6,833)
Net cash used in operating acbvities							848,118	(88,502)
Anal sis ofcash and cash uivalent
Cash in hand							8,247	14,446
Short term deposit (less than 3 months)							1,258,352	360,280
Total cash and cash equivalents							1,266,599	374,726

==> picture [11 x 8] intentionally omitted <==

==> picture [497 x 179] intentionally omitted <==

5 Fees for examination	or audit	ofthe	accounts		2023		2022
Auditor's fees for reporting	on the accounts				E4,500	E4,200
Other fees (e.g. advice, accountancy		services) paid to the auditor			Nil		Nil
6Paid employees					2023		2022
Staffcosts paid during	the year	were:
Gross wages, salaries and	benefits	in kind		E230,687		E252,542
Employer's National Insurance costs				E	20,274	E	21,611
Pension costs				E	52,541	E	57,608
Payroll Bureau Fee				E	480	E	480
Apprenticeship Levy				E	1,250	E	1,256
Total staff costs				E305,232		E333,497
Average number ofstaff in the		year:					12
(comprising six full time and five part-time			staff)

==> picture [398 x 220] intentionally omitted <==

==> picture [11 x 8] intentionally omitted <==

==> picture [481 x 288] intentionally omitted <==

==> picture [11 x 8] intentionally omitted <==

Analysis ofinvestments					Bid Price
					atyear end
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					48,540
Total					48,540
Change in investment values
Carrying (market) value at the beginning			ofthe year		51,280
Add: additions to investments at cost					Nil
Less: disposals at carrying value					Nil
Add/(deduct): net gain/(loss) on revaluation					(2,739)
Carrying (market) value at the end	ofthe year				48,540
9Debtors
					2023	2022
					f.
Sundry debtors lk prepayments					26,508	28,492
Principally reflecting ministerial stipends			paid in advance.
10Creditors due within one year
					2023 f	2022 f
Sundry creditors 8 deferred income					50,456	47,336
Principally reflecting assessments paid		in August for		the following	year.

==> picture [482 x 452] intentionally omitted <==

West Herifordshire and Borders					34/14
Statement ofFinancial Acbvities (SOFA) for 31August 2022		the year ended
		Notes tothe accounts	General Fund (Unrestricted)	Circuit Model Trust (Unreshicted)		CI i~ Hall	Total 2021-22
Income
1 Donations and legades			215					215
2 lnmme from monetary investments			561		1,878	173		2,612
3 lnmme from investment properbes						9,280		9,280
4 Assessments on Churches							468,062
5 Capital Receipts
6 Grants received			17,000					17,000
7 Rents receivable			20,990					20,990
8Totalincome			506828	1878		9453	518159
Expenditure
9 Grants and donations			450					450
10Salaries and associated costs			333,497				333,497
11Property maintenance			34,968			141		35,109
12 Connexional assessment & model trust levy
13Disbict Assessment & Levy			99,936		8,052		107,988
14Sale of Land
								3,837
15Oflice expenses			3,837
16Other outgoings			81,024		700	9,811		91,535
17Total charitable expenditum			553715	8752		9952	572416
18Gains/(losses) on monetary	investments			-5,466				-5/66
19Gains/(losses) on investment	properties
20 Net income/(expenditure)			-46,884	-12,340		-499		-59,723
21Transfers between funds			-82		-743	825
22 Other gains/(losses)			930,500				930,500
23 Net movement in funds			883534	-13083		326	870777
24Total funds brought forward			6,709,043	245,711		925,984	7,880,738
25Total funds carried forward			759 577	23	628	926,310	8	751,514