BEDE METHODIST CIRCUIT
FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2020
Charity number : 1135516
BEDE METHODIST CIRCUIT
| Contents | Page |
|---|---|
| Report of the Trustees | 1-5 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes forming part of the Financial Statements |
9 -12 |
| Trustee list | 13 |
BEDE METHODIST CIRCUIT
1
Report of the trustees for the year ended 31 August 2020
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 August 2020.
The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015)
Purposes and activities
The charity’s objects is to act as a Resource provider within Gateshead South Tyneside and Sunderland.
The purposes of the Methodist Church are and shall be deemed to have been since the date of the Union the advancement of –
the Christian Faith in accordance with the doctrinal standards and the discipline of the Methodist Church
any charitable purpose for the time being of any Connexional District circuit local or other organisation of the Methodist Church
any charitable purpose for the time being of any society or institution subsidiary or ancillary to the Methodist Church
any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church
In shaping the objectives for the year and planning activities, the trustees have considered the Charity Commission’s guidance on public benefit. The Circuit is community based and is open to all to become involved.
The strategies employed to achieve the circuit’s aims and objectives are to
organisation and resourcing of regular public acts of worship open to members of the church and non-members alike teaching of Christianity through sermons courses and small groups promotion of Christianity through the staging of events and services providing financial grants to assist circuit churches and associated bodies
2
BEDE METHODIST CIRCUIT
Report of the trustees for the year ended 31 August 2020
Achievements
During this connexional and financial year we have all had to look at ways of being Church during the Pandemic. It has left many individuals and churches ask questions about the future. It has certainly made an impact on the income in all our churches. It has meant we have not been able to celebrate in person the wonderful Christian festivals of Christmas, Easter, Pentecost and Harvest. We have missed sharing in bread and wine around the communion table.
But we have met together in many different ways using technology, using written weekly letter and worship resources. The staff have met weekly and the Circuit Leadership Team have met regularly overseeing the continued wok of the circuit.
The services, bible studies and prayer meetings held online have brought the circuit closer together and it is hoped that once the pandemic is over we can continue to build on this as we look ahead into the future.
Financial Review
The circuit suffered a deficit of £34,946 on unrestricted funds and a surplus of £197,623 on unrestricted funds (2019 – deficit £7,875). Cash resources remain healthy with bank balances of £186,434 (2019 - £176,653).
Reserves policy and going concern
Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned expenditure. The trustees in line with Charity Commission guidance seek to have a minimum of four months expenditure in reserves. The trustees do not believe going concern is an issue in the next twelve months given the careful financial management employed by the charity and level of monies held in the bank.
Total reserves held at 31 August 2020 are £392,893. Restricted reserves amount to £289,812 leaving unrestricted reserves of £103,081. Expenditure for 2020/21 is expected to be similar to this year at £356,000. Current unrestricted reserves represent just over three months expenditure compared to just under four months in 2019..
Restricted reserves comprise of
Advance fund held for one-off larger costs Benevolent to alleviate poverty and distress Mission to assist spreading the word of the church
3
BEDE METHODIST CIRCUIT
Report of the trustees for the year ended 31 August 2020
Plans for future periods
As a circuit we are hosting strategic meetings and discussing the future of the circuit how can we utilise employ, operate and develop the gifts and talents of our existing staff and make the effective and effectual use of their contributions as we assist our communities where God has intentionally and intellectually planted us serve Him and His people.
In future we realistically and wisely are cutting on maintenance of buildings and increasing energies and endeavours to be more visible and vibrant church and to be good and accountable stewards towards all circuit moneys and belongings.
Reference and administrative information
| Charity number : | 1135516 |
|---|---|
| Trustees | A list of trustees is attached to the accounts – |
| page 13 | |
| Contact address | 8 Nairn Close |
| Washington | |
| Tyne & Wear | |
| NE37 1PN | |
| Independent | R A Page |
| Examiner | 511 Durham Road |
| Low Fell | |
| Tyne & Wear | |
| NE9 5EY | |
| Bankers | NatWest |
| Northumberland Street | |
| Newcastle upon Tyne |
4
BEDE METHODIST CIRCUIT
Report of the trustees for the year ended 31 August 2020
Governing Document
The governing document for the circuit is the Deed of Union (1932) and the Methodist Church Act (1976). Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual Methodist Conference. Managing trusteeship and overall governance responsibility rests with the Circuit Meeting which meets at least twice a year. Day to day management of the circuit is undertaken by the Superintendent Minister Circuit Stewards and Circuit Leadership Team in partnership with other officers and committees as appropriate.
Risk Management
The trustees and management have carried out an assessment of the major risks facing the circuit.
Safeguarding
Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.
Methodist Connexional practice outlines commitment to the following principles –
the care and nurture of and respectful pastoral ministry with all children young people and adults
the safeguarding and protection of all children young people and adults when they are vulnerable
the establishing of safe caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse we will carefully select and train all those with any responsibility within the church in line with safer recruitment principles including the use of criminal records disclosure and registration with the relevant vetting and barring schemes
we will respond without delay to every complaint made which suggests that an adult child or young person may have been harmed cooperating with the police and local authority in any investigation
we will seek to work with anyone who has suffered abuse developing with them an appropriate ministry of informed pastoral care
we will seek to challenge any abuse of power especially by anyone in a position of trust
BEDE METHODIST CIRCUIT
5
Report of the trustees for the year ended 31 August 2020
Safeguarding continued
we will seek to offer pastoral care and support including supervision and referral to the proper authorities to any member of our church community known to have offended against any child young person or vulnerable adult
In all these principles we will follow legislation guidance and good practice.
The Bede Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy government legislation guidance and safe practice in the Circuit and in the churches.
The Bede Circuit commits itself to the provision of support advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who maybe vulnerable.
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of its income and expenditure for that period. In preparing the financial statements, the trustees doing so the trustees are required to:
Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent State whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statement; Prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the trustees
Rev J Carter - Trustee
Date : 16 March 2021
BEDE METHODIST CIRCUIT
Report of the Independent Examiner to the trustees of Bede Methodist Circuit
I report on the financial statements of Bede Methodist Circuit for the year ended 31 August 2020 which are set out on pages 7 to 12.
Respective responsibility of trustees and independent examiner
The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011(the Charities Act) does not apply. It is my responsibility to
Examine the accounts under section 145 of the Charities Act
- To follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act) and To state whether particular matters come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention :
-
(1) which gives me reasonable cause to believe that in any material respect the requirements
-
. to keep accounting records in accordance with section 130 of the Charities Act; and
-
. to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the Charities Act,
have not been met ;or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.
R A Page FCCA 511 Durham Road Gateshead Tyne & Wear NE9 5EY
16 March 2021
BEDE METHODIST CIRCUIT
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Statement of Financial Activities
Year ended 31 August 2020
| Notes Income Assessments Grants Interest Dividends Rental income Shop assistance Sale of property Other income Total income Expenditure Charitable activities Support costs Total expenditure 2 Outgoing resources Deficit on value of investments Transfer Total funds bought forward Total funds carried forward |
Unrestricted Restricted 2020 2019 £ £ £ £ 308,466 - 308,466 313,986 - 14,897 14,897 29,378 - 1,897 1,897 1,252 - 26 26 39 19,800 - 19,800 20,531 25,000 25,764 50,764 - 263,452 263,452 - 358 - 358 7,754 |
|---|---|
| 353,624 306,036 659,660 372,940 |
|
| 377,637 108,209 485,846 372,246 10,933 181 11,114 8,585 |
|
| 388,570 108,390 496,960 380,831 |
|
| (34,946) 197,646 162,700 (7,891) - (23) (23) 16 |
|
| (34,946) 197,623 162,677 (7,875) 18,089 (18,089) - - |
|
| (16,857) 179,534 162,677 (7,875) 119,938 110,278 230,216 238,091 |
|
| 103,081 289,812 392,893 230,216 |
BEDE METHODIST CIRCUIT 8
Balance Sheet as at 31 August 2020
| Notes Fixed assets Investments 3 Current assets Debtors 4 Cash on deposit Cash at bank Creditors :amounts falling due in one year 5 Net assets Funds 6 |
£ 12,482 44,444 141,990 |
2020 £ 264,606 128,287 |
£ 31,881 62,652 114,001 |
2019 £ 90,691 139,525 |
|---|---|---|---|---|
| 198,916 70,629 |
208,534 69,009 |
|||
| 392,893 | 230,216 | |||
| 392,893 | 230,216 |
Approved by the Leadership team on 16 March 2021 and signed on their behalf by
Rev J Carter
BEDE METHODIST CIRCUIT
Notes forming part of the financial statements for the year ended 31 August 2020
1 Basis of accounting
The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and reporting by Charities : Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial reporting Standard for smaller entities applicable in the UK (effective from 1 January 2015) – the Charities SORP (FRSSE) – in replacement for the SORP’s 2005 version specified in its related 2008 Regulations and in accordance with the ‘true and fair override’ provision contained therein.
Basis
These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year, on the accruals basis to show a true and fair view of the Circuit’s financial position and activities.
Investment income
Investment income is accounted for in the period in which the circuit is entitled to the receipt.
Resources expended
Expenditure is included on an accruals basis.
Fund accounting
Funds held by the charity are either
Unrestricted general reserves - These are funds which can be used in accordance with charitable objects at the discretion of the trustees.
Restricted funds - These are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when funds are raised for particular purposes. Benevolence funds are statutory funds set aside in accordance with Methodist standing orders.
Designated funds - These are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects.
BEDE METHODIST CIRCUIT
Notes forming part of the financial statements for the year ended 31 August 2020
2 Total resources expended
| CHARITABLE ACTIVITIES District assessment District levy Minister allowances Lay workers Pension costs Apprentice levy Relocation costs Travel Telephone and postage Pulpit supply Training and books Quinnquennials Repairs Insurance rent and utilities Council tax Shop Sundry Church grants Donations SUPPORT COSTS Management charges Property letting costs Legal fees Administration fees Accountancy |
Unrestricted Restricted 2020 2019 £ £ £ £ 68,988 - 68,988 62,334 - 87,611 87,611 2,730 166,185 - 166,185 139,069 84,466 9,509 93,975 100,904 4,944 - 4,944 4,032 - - - 1,055 - - - 1,950 10,967 - 10,967 12,621 6,684 - 6,684 6,014 325 - 325 - 2,219 - 2,219 2,655 - - - 2,348 9,916 - 9,916 10,484 15,683 - 15,683 7,615 7,210 - 7,210 7,613 - 7,675 7,675 - 50 - 50 540 - 3,414 3,414 5,282 - - - 5,000 - 181 181 209 3,501 - 3,501 1,980 2,764 - 2,764 1,488 3,648 - 3,648 3,648 1,020 - 1,020 1,260 |
|---|---|
| 388,570 108,390 496,960 380,831 |
3 Investments
| Trustees for Methodist Church Purposes CFB Managed Mixed Fund Elizabeth Griggs Bequest Interest Fund |
2020 2019 £ £ 1,278 1,301 1,500 1,481 261,828 87,909 |
|---|---|
| 264,606 90,691 |
BEDE METHODIST CIRCUIT
Notes forming part of the financial statements for the year ended 31 August 2020
4 Debtors
| Assessments Loan Grants receivable Prepayments Creditors : amounts falling due within one year Assessment received in advance Grant in advance Emergency fund Accruals |
2020 2019 £ £ 6,842 13,975 3,000 - - 16,378 2,640 1,528 |
|---|---|
| 12,482 31,881 |
|
| 2020 2019 £ £ 66,906 61,044 - 5,000 1,615 - 2,108 2,965 |
|
| 70,629 69,009 |
5 Creditors : amounts falling due within one year
6 Funds
| Unrestricted General Total unrestricted Restricted Advance fund Benevolent Mission Shop Total unrestricted Total funds |
Opening Income Expenditure Transfer Closing Balance Balance £ £ £ £ £ 119,938 353,624 388,570 18,089 103,081 |
|---|---|
| 119,938 353,624 388,570 18,089 103,081 |
|
| 98,612 280,188 100,738 - 278,062 5,859 42 - - 5,901 5,807 42 - - 5,849 - 25,764 7,675 (18,089) - |
|
| 110,278 306,036 108,413 (18,089) 289,812 |
|
| 230,216 659,660 496,983 - 392,893 |
BEDE METHODIST CIRCUIT 12
Notes forming part of the financial statements for the year ended 31 August 2020
7 Analysis of net assets between funds
| Investments Debtors and prepayments Cash at bank and in hand Creditors Net assets |
Unrestricted Restricted Total £ £ £ - 264,606 264,606 12,482 - 12,482 161,228 25,206 186,434 (70,629) - (70,629) |
|---|---|
| 103,081 289,812 392,893 |
BEDE METHODIST CIRCUIT
13
TRUSTEES
Rev Jane Carter (Superintendent)
Rev Neil Maynard
Rev Matthew Sheard Rev Huw Sperring Rev Deborah Wainwright
Mrs Lynn Hartridge Miss Janet Granger Mrs Isabelle Milburn
Mrs Eileen Addison Mr Peter Beal Mr Alan Bell Mrs Angela Bell Mrs Elizabeth Bell Mrs Margaret Bell Mrs Judith Bissett Mrs Sylvia Black Mrs Sylvia Booth Miss Estelle Burgess Mrs Muriel Burgess Mrs June Burns Mrs Mary Cartwright Mrs Susan Cassidy Mrs Brenda Coates Miss Katharine Cresswell Mrs Pauline Dixon Mrs Sheridan Dixon Mrs Brenda Donaldson Mr Ian Edwards Mrs Jeanette Edwards Mrs Linda Gaddes Mrs Marianne Gibson Mr Malcolm Glass Mrs Lorna Harland Mr David Haygarth Mrs Marie Hornby
Rev Cynthia Hardiman Rev Judith Oldroyd Rev Paul Worsnop
Mr Stephen Murray Mrs Tracey Wood Mrs Clare Worth
Mrs Jean Latimer Mrs Elaine Lawrence Mr William Lee Dr Angela Lishman Mrs Jacqueline Lloyd Mr David Milne Mrs Irene Morgan Miss Hilary Newman Mr Mlamlankunzi Nkomo Mrs Sheila Norman Mr David Parker Mr David Patrick Mrs Jean Peacock Mr Alan Pitchers Mr Keith Reader Mrs Ann Redhead Mrs Cicely Robinson Mrs Patricia Robinson Mrs Barbara Rowell Mr Robert Simpson Mr Ian Smith Miss Carol Thompson Mr Roy Tilley Mrs Susan Tilley Dr Lynn Wales Mrs Brenda Wallace