2020-08-31-accounts

Contents
For the year Ended	31August 2020
Administrative Information
Trustees' Annual Report
Statement ofTrustees'	Responsibilities
Auditors' report
Statement of Financial	Activities
Statement of Financial	Position
Cash Flow Statement
Notes to the financial	statements

Other Trustees (continued):	Other Trustees (continued):	Martin Cresswell		Margaret	Margaret	Mottram
		3anet Fenney		3im	Howard
		Diana Beaumont		Kathryn		Ridge
		Emma Verio		Pat	Bedall
		Carol Totney		Sue	Readshaw
		Iris Gamble
Registered	Office:	Beckminster Methodist	Church
		Birches Barn Road
		Penn Fields
		Wolverhampton
		WV3 7BQ
Charity:		1135146
Auditors		Muras Baker 3ones Limited
		Regent House
		Bath Avenue
		Wolverhampton
		West Midlands
		WV1 4EG
Bankers:		Lloyd s
		Queen Square
		Wolverhampton
		West Midlands
		Wvi 1TF
		Barclays Bank Pic
		Queen Square
		Wolverhampton
		West Midlands
		HSBC Bank PLc
		Queen Square
		Wolverhampton
		West Midlands
		Central Finance Board	ofthe	Methodist	Church
		9 Bonhill Street
		London
		EC2A 4PE

General Fund Circuit Model Trust Fund Designated Funds Restricted Funds	f(24,401) f(10,028) f(11,072) E(6,583)	(2019f(27,939) (2019:f(17,983) (2019:f(4,048) (2019:f(19,730)	Deficit for both years Deficit for both years Deficit for both years Deficit for both years

The Circuit has a reserves policy c	The Circuit has a reserves policy c	overin	g its un	g its un	g its un	restrict	restrict	ed fund	s which i	s reviewed ann	s reviewed ann	ually	.
Our policy is to ensure that there		are	sufficient			free		reserves	available	to maintain		and	secure the
Circuits viability and future whilst ensuring through openness being used for its charitable purposes. The Trustees are of									and transparency the view that at		that its resources are 31 August 2020 free
reserves meet these criteria.	The reserves			held		at the		end of the year were as			follows:
Unrestri cted funds
General Fund													1,732,274
Model Trust Fund													383,013
												2,115,287
Designated funds Wednesfield Methodist Church	Funds												14,102
													14,102
Total unrestri cted funds													2,129,389
Surplus Funds Endowed Funds from Wednesfield		Methodist			Church								22,513 52,586
Total restricted funds													75,099
Total funds													2,204,488
Less: Tied up in freehold property Restricted Funds		and	fixtures										(1,618,158) (75,099)
												(11693~257)
Total readily available reserves													511,231

				Circuit	Model
			General Fund	Trust Fund		Designated	Restr icted	Totals	Totals
		Note	(Unrestricted) I	(Unrestricted)I		Funds 6	FundsI	2020	2019 6
Income
Donations and legacies			12,893		10,626			23,519	1,720
Charitable activities:
Assessment or share		6	369,195					369,195	390,034
Grants		8	14,494					14,494	200
Other income		10	126,761			5,612		132,373	114,385
Investment income:
Income from monetary
investments			875		3,620		1,323	5,818	6,654
Total Income			524,218	14g246		5~612	ig323	545,399	512,993
Expenditure on
Charitable activities:
Salaries and assooated
costs		12	355,507			3,043		358,550	355,132
District assessment			92,567					92,567	92,118
MTF levy					19,783			19,783	21,138
Property Costs		14	54,330			4,772		59,102	45,821
Office Expenses		15	12,055					12,055	8,427
Depreciation			27,148					27,148	23,868
Other outgoings		16, 17	21,740		807		183	22,730	17,598
Grants and donations		11	1,098		3,000			4,098	19,482
Total Expenditure			564,445	23,590		7,815	183	596,033	583,584
Net Income/
(expenditure)			(40,227)		(9,344)	(2,203)	1,140	(50,634)	(70,591)
Gains (deficits )on
Transfers between	Funds	18	15,826		(179)	(8,869)	(6,778)
Investment assets					(505)	—	(945)	(1,450)	891
Net movement in	funds		(24~401)	(10g028)		(11~072)	(6~583)	(52g084)	(69 700)
Total funds brought
forward			1,756,675	393,041		25,174	81,682	2,256,572	2,326,272
Total funds carried
forward at end ofyear			1732I274	383g013		14r102	75~099	2g204I488	2 256 572

As at 31Aug	ust 2	20			Circuit Model	Designated
			General	Fund	Trust Fund	Funds	Restricted	Totals	Totals
			(Unrestricted)		(Unrestricted)	(Unrestricted)	Funds	2020	2019
		Notes		6	6	6	6	6	6
Fixed Assets
Tangible fixed assets		19	1,618,158					1,618,158	1,642,673
Investments with	TMCP	20			29,397		52,5$5	81,982	72,$05
			1~618~158		29g397		52,585	1,700,140	1,715,478
Current Assets
Debtors		21	49,004					49,004	44,$51
Investments with	TMCP	22			353,616		27,514	381,130	411,91$
Central Finance Board
Deposits		22	14$,539					148,539	161,426
Cash at Bank and	in
hand		22				14,102		14,102	24,918
			197,543		353,616	14,102	27,514	592,775	643,113
Creditors: Amounts
falling due within	one
year		25	$3,427				5,000	88,427	97,01$
Net current assets			114'116		353~616	14~102	22g514	504~348	546 095
Total assets less
current liabilities			1,732,274		383,013	14~102	75g099	2~204~488	2 261 772
Grants payable	in over
1year		25							5,000
Net assets			1,732,274		363,013	14,102	75,099	2,204,4$8	2,256,572
Funds ofthe circuit
General Fund
(Unrestricted)		26.1	1,732,274					1,732,274	1,756,675
Circuit Model Trust
Fund (Unrestricted)		26.1			379,954			379,954	389,477
Revaluation Fund
(Unrestricted)		26.I			3,059			3,059	3,564
Designated Fund
(Unrestricted)		26.2				14,102		14,102	25,174
Other Funds
(Restricted)		27					73,234	73,234	7$,873
Revaluation Fund
(Restricted)		27					1,665	1,865	2,$10
Total Funds		2$	1~7321274		383~013	14~102	75I099	2g204g488	2 256 572

Wolverhampton Methodist Circuit Cash flow statement
For the year ended 31August 2020			2020	2019
		Notes		6
Cash from operating activities
Deficit for the year			(50,634)	(70,591)
Adjustments for:
Depreciation			27,148	23,868
Decrease/(increase) in debtors			(4,153)	(3,087)
Increase/(decrease) in creditors			(13,591)	(25,522)
Net cash used in operating activities			(41i230)	(75t332)
Cash flows from investing activities
Purchase of tangible assets			(2,633)	(14,212)
Purchase of fixed asset investments			(10,627)
Net cash (used in) / from investing	activities		(13I260)(14i212)
Change in cash and cash equivalents	in the period		(54,490)	(89,544)
Cash and cash equivalents at start of period			598,261	687,805
Cash and cash equivalents at the end ofthe period		22	543i771	598I261

	sundry o	ffice costs.
			2020	2019
	Number	of trustees who were paid expenses
	Total amount paid		250	117
5.	Fees for examination or audit ofthe accounts
			2020	2019
	Included	within 'other expenditure' are the following:
	Auditors'	fee for reporting on the accounts	3124	3,020

Staff costs
									2020	2019
									6	6
Staff costs paid during the year were: Gross wages, salaries and benefits in kind Employer's National Insurance costs									269,684 19,006	265,991 17,599
Pension costs									48,216	48,482
Other non-payroll	costs								21,644	23,060
Total staff costs									358I550	355~132
Average number year were:		of full-time		equivalent			employees		in the 16	20
No employee earned		more than		660,000 (2019				- none)	in the year.
The costs can be summarised			between			ministry		and lay	worker support as follows:
									2020	2019
									6
Ministry									260,101	256,396
Gross cost of lay	support								98,449	98,736
									358I550	355i132

ccounts Property	of The Met costs	hodist Church at www. methodist. o	rg.uk.
				2020	2019
Property	Maintenance			12,530	7,840
Rental of	manses			14,531	13,883
Insurance				9,221	4,729
Utilities (principally		rates, light and heat at Darlington	Street and
water rates)				22,820	19,369
				59,102	45,821

Office ex	penses
		2020	2019
Printing,	postage and stationery	3,863	1,231
Use of office and facilities		4,893	4,000
Audit fee		3,124	3,020
Training		175	176
		12,055	8,427

ampton Methodist Circuit o the accounts 1August 2020 ther outgoings
		2020	2019
		E	E
Pulpit supply Inspections and legal fees		3,366 16,844	6,197 3,769
Sundry outgoings		258	2,513
Mission and outreach		1,273	4,094
TMCP charges (charged to MTF and Restricted	Fund)	990	1,025
		22t730	17~598

oe As at	o e accouns 31August 2020	o e accouns 31August 2020
19.	Tangible fixed assets
	Cost or valuation				Fixtures,
					fittings and
				Manses	Equipment	Tota I
				6	6	6
	At 31August	2019		1,683,178	68,066	1,751,244
	Additions				2,633	2,633
	At 31August	2020		1,683,178	70699	11753i877
	Depreciation
	At 31August	2019		61,850	46,721	108,571
	Charge for year			16,020	11,128	27,148
	At 31August	2020		77,870	57,849	135,719
	Net book value
	At 31August	2019		1,621,328	21,345	1,642,673
	At 31August	2020		1~605i308	12850	Ii618518
20.	Fixed Asset Investments
					2020	2019
					6	6
	Cost brought	forward			72,805	71,914
	Additions				10,627
	Unrealised (losses)gains		on revaluation		(1,450)	891
	Cost carried forward				81,982	72,805

reditors —a	mounts falling due within one year
		2020 E	2019f
Bank Overdrafts		7,458
Accruals		25,034	24,086
Assessments	in advance	49,770	60,833
Grant payable	to Stratton Street	5,000	10,000
Other Creditors		1,165	2,099

				Opening	Incoming	Resources	Gains/	Transfers	Closing
				balance	resources	Expended	(Losses)		Balance
Unrestricted		Fund		E	E	E			E
Name
General Fund Circuit Model Trust Revaluation Fund			Fund	1,756,675 389,477 3,564	524,218 14,246	(564,445) (23,590)	(505)	15,826 (179)	1,732,274 379,954 3,059
Totals				2,149,716	538,464	(588,035)	(505)	15,647	2,115,287
Unrestricted			funds	—Previous	year
				Opening	Incoming	Resources	Gains/	Transfers	Closing
				balance	Resources	Expended	(Losses)		Balance
Unrestricted		Fund		E	E	E	E		E
Name
General	Fund			1,784,614	493,345	(535,424)		14,140	1,756,675
Circuit	Model	Trust Fund		407,696	3,741	(21,960)			389,477
Revaluation		Fund		3,328			236		3,564
Totals				2,195,638	497,086	(557,384)	236	14~140	2g149~716

					Opening	Incoming	Resources	Gains/		Closing
Designated	Fund Name				balancef	resources f	Expended f	(Losses) f	Transfers f	Balancef
Wednesfieid	Designated
Funds					25,174	5,612	(7,815)		(8,869)	14,102
Totals					25~174	Sg612	(7g815)		(8,869)	14,102
Designated funds —Previous year
				Opening		Incoming	Resources	Gains		Closing
				balance E		resources f	Expended f	(Losses) F	Transfers E	Balance E
Designated	Fund Name
University Chaplaincy					3,714	5,836	(6,066)		(3,484)
Wednesfield	Designated
Fund					25,508	8,110	(9,931)		1,487	25,174
Totals				29,222		13,946	15,997		(tg997)	25/174
Restricted funds		—Current year
University	Chaplaincy		Fund		(Restricted): represents specific			funding	for the provision	of a
minister to the University				of Wolverhampton.
					Opening	Incoming	Resources	Gains/		Closing
Restricted	Fund Name				balance E	resourcesf	Expendedf	(Losses)f	Transfers E	Balance E
Surplus Funds Account Wednesfield Endowed		Funds			28,152 50,719	265 1,059	(76) (107)		(5,828) (950)	22,513 50,721
Wednesfield	Endowed
Revaluation	Fund				2,810			(945)		1,865
Totals					81,682	1,324	(183)	(945)	(6,778)	75,099

Restricted	funds	—Prev	ious year
			Opening	Incoming	Resources	Gains/		Closing
			balance	resources	Expended	(Losses)	Transfers	Balance
Restricted	Fund Name		E	E	E		E	E
Surplus Funds Account Wednesfield Endowed		Funds	48,538 50,719	368 1,594	(10,097) (106)		(10,656) (1,487)	28,153 50,719
Wednesfield	Endowed
Revaluation	Fund		2,155			655		2,810
Totals			101g412	1961	(10/203)	655	(12g143)	81~682

							Circuit Model	Designated	Restncted
					General	Fund	Trust Fund	Funds	Funds	Totals
					(Unrestricted)		(Unrestricted)	(Unrestricted)	(Restricted)	2020
						E	5	E	E	E
Fixed Assets
Tangible	fixed assets				1,618,158					1,618,518
Fixed asset investments							29,397		52,585	81,982
Current	Assets
Debtors					49,004					49,004
TMCP Investments							353,616		27,514	381,130
Deposit accounts					148,539					148,539
Cash at	Bank and		in	hand				14,102		14,102
Creditors: Amounts				falling
due within one year
Amounts	falling	due		in over	(83,427)				(5,000)	(88,427)
one year
Total					1,732,274		383,013	14,102	75,099	2,204,488

significant influenc considered related	e over an parties.	y of th	em, no	r they over the Circuit.	They are, the	refore, not
Transactions with	connected	parties	during	the year are as follows:
Names of Connected Organisations					Receipts	Payments
					6	6
Donor: District Advance Fund					10,200	(92,567)
Donor: Churches	within the	Circuit	in respect of assessments		369,195
Donee: Grants to	churches	within	the Circuit			(4,098)