BEDE METHODIST CIRCUIT
FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2021
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 2021
The trustees are pleased to present their report together with the financial statements of the charity for the year ended 31 August 2021.
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
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BEDE METHODIST CIRCUIT
Report of the trustees for the year ended 31 August 2021
Achievements
This report from last year continues with the same tone in that saying that during this connexional and financial year we have all had to continue to look at ways of being Church during the Pandemic. It has left many individuals and churches ask questions about the future. The Circuit Leadership Team have begun the work of a circuit review as we try to look ahead and make plans for future work and the ministries we will need.
The Circuit have reduced the number of ordained ministers with Rev Neil Maynard leaving us to go to Grantham and the Vale of Belvoir.
This year we were also able to celebrate with Rev Matt Sheard his ordination at Coventry Central Hall.
Weekly services have now restarted in all churches and slowly and carefully are trying to restart the activities of church life.
Financial Review
The circuit suffered a deficit of £18,617 (2020 – deficit £34,946) on unrestricted funds and a surplus of £220,779 on restricted funds (2020 – surplus £197,623). Cash resources remain healthy with bank balances of £158,189 (2020 - £186,434).
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 six 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 2021 are £595,055. Restricted reserves amount to £505,203 leaving unrestricted reserves of £89,852 Expenditure for 2021/22 is expected to be £20,000 less than 2021 at £398,000. Current unrestricted reserves represent just under three months expenditure. Expenditure is unrestricted spending and an amount for district assessment.
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 |
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BEDE METHODIST CIRCUIT
Report of the trustees for the year ended 31 August 2021
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 to serve Him and his people.
In future we realistically and wisely are cutting on maintenance of buildings and increasing energies and endeavours to be a 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 | Wrekenton Methodist Community Church |
| 2 Springwell Avenue | |
| Wrekenton Gateshead | |
| Tyne & Wear | |
| NE9 7JL | |
| 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 2021
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 2021
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 Circuit Meeting
Rev J Carter - Trustee
Date : 8 December 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 2021 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
8 December 2021
BEDE METHODIST CIRCUIT
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Statement of Financial Activities
Year ended 31 August 2021
| Notes Income Assessments TMCP and purposes Interest Dividends Rental income Shop grants Sale of property Other income and donations Job Retention Scheme Total income Expenditure Charitable activities Support costs Total expenditure 2 (Outgoing)/incoming resources Surplus on value of investments Transfer Total funds bought forward Total funds carried forward |
Unrestricted Restricted 2021 2020 £ £ £ £ 298,194 - 298,194 308,466 20,500 - 20,500 14,897 - 460 460 1,897 - 20 20 26 15,916 - 15,916 19,800 41,124 - 41,124 50,764 - 352,057 352,057 263,452 5,230 - 5,230 358 15,847 - 15,847 - |
|---|---|
| 396,811 352,537 749,348 659,660 |
|
| 410,195 131,981 542,176 485,846 5,233 12 5,245 11,114 |
|
| 415,428 131,993 547,421 496,960 |
|
| (18,617) 220,544 201,927 162,700 - 235 235 (23) |
|
| (18,617) 220,779 202,162 162,677 - - - - |
|
| (18,617) 220,779 202,162 162,677 108,469 284,424 392,893 230,216 |
|
| 89,852 505,203 595,055 392,893 |
BEDE METHODIST CIRCUIT
Balance Sheet as at 31 August 2021
----- Start of picture text -----
Notes 2021 2020
£ £ £ £
Fixed assets
Property 3 323,529 -
Investments 4 170,707 264,606
494,236 264,606
Current assets
Debtors 5 10,477 12,482
Cash on deposit 64,226 44,444
Cash at bank 93,963 141,990
168,666 198,916
Creditors : amounts
falling due in one year 6 67,847 70,629
100,819 128,287
Net assets 595,055 392,893
Funds 7 595,055 392,893
----- End of picture text -----
Approved by the Circuit Meeting on 8 December 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 2021
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 2021
2 Total resources expended
| CHARITABLE ACTIVITIES District assessment District levy Minister allowances Lay workers Pension costs Apprentice levy Relocation costs Travel Telephone and postage 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 3 Property |
Unrestricted Restricted 2021 2020 £ £ £ £ 73,990 10,983 84,973 62,334 - 120,998 120,998 2,730 176,547 - 176,547 139,069 79,256 - 79,256 100,904 5,087 - 5,087 4,032 - - - 1,055 - - - 1,950 3,868 - 3,868 12,621 9,244 - 9,244 6,014 1,820 - 1,820 2,655 - - - 2,348 6,321 - 6,321 10,484 10,018 - 10,018 7,615 8,035 - 8,035 7,613 35,739 - 35,739 - 270 - 270 540 - - - 5,282 - - - 5,000 - 12 12 209 - - - 1,980 745 - 745 1,488 3,648 - 3,648 3,648 840 - 840 1,260 |
|---|---|
| 415,428 131,993 547,421 380,831 |
|
| £ |
Manse – addition in year
323,529
BEDE METHODIST CIRCUIT
Notes forming part of the financial statements for the year ended 31 August 2021
| 4 Investments Trustees for Methodist Church Purposes CFB Managed Mixed Fund Elizabeth Griggs Bequest Interest Fund |
2021 2020 £ £ 1,513 1,278 1,502 1,500 167,692 261,828 |
|---|---|
| 170,707 264,606 |
| 5 Debtors Assessments Loan Prepayments |
2021 2020 £ £ 7,477 6,842 3,000 3,000 - 2,640 |
|---|---|
| 10,477 12,482 |
6 Creditors : amounts falling due within one year
| Assessment received in advance Emergency fund Accruals |
2021 2020 £ £ 64,062 66,906 2,945 1,615 840 2,108 |
|---|---|
| 67,847 70,629 |
BEDE METHODIST CIRCUIT
Notes forming part of the financial statements for the year ended 31 August 2021
7 Funds
| Unrestricted General Shop Restricted Advance fund Benevolent Mission Total unrestricted Total funds |
Opening Income Expenditure Transfer Closing Balance Balance £ £ £ £ £ 108,469 330,655 (379,689) (35,289) 24,176 - 66,156 (35,739) 35,289 65.676 |
|---|---|
| 108,469 396,811 (415,428) - 89,852 |
|
| 272,674 352,772 (131,993) - 493,453 5,901 - - - 5,901 5,849 - - - 5,849 |
|
| 284,424 375,772 (131,993) - 505,203 |
|
| 392,893 749,583 (547,421) - 595,055 |
Advance fund income includes the surplus on the value of investments.
8 Analysis of net assets between funds
| Property Investments Debtors and prepayments Cash at bank and in hand Creditors Net assets |
Unrestricted Restricted Total £ £ £ - 323,529 323,529 - 170,707 170,707 10,477 - 10,477 147,222 10,967 158,189 (67,847) - (67,847) |
|---|---|
| 89,852 505,203 595,055 |
BEDE METHODIST CIRCUIT
13
TRUSTEES
Rev Jane Carter (Superintendent)
Rev Matt Sheard Rev Huw Sperring Rev Deborah Wainwright
Mrs L Hartridge Dr A Lishman Mrs C Worth Mrs I Milburn Mrs A Redhead Mrs B Rowell Mrs L Gaddes Mr I Smith Mrs J Latimer Mrs E Lawrence Mrs V Codling Mrs B Wallace Mrs S Black Mrs S Dixon Mr D Milne Mrs J Burns Mrs D Snowball Mrs E Cable Mr D Haygarth Mrs J Peacock Mr S Phipps Mrs J Edwards Mrs A Bell Mrs E Bell Mrs B Wallace Miss C Thompson Mrs S Norman Mrs B Donaldson Mrs M Gibson Mrs P Dixon Mr K Reader Mr D Parker
Rev Cynthia Hardiman Rev Judith Oldroyd Rev Paul Worsnop
Mr W Lee Mrs T Wood Mr M Glass Mrs J Bissett Miss H Newman Dr L Wales Mrs I Morgan Mr A Pitchers Mr Mla Nkomo Miss J Granger Mrs M Burgess Miss E Burgess Mrs J Lloyd Mr D Patrick Mr M Glass Mrs M Hornby Mrs P Robinson Mrs L Harland Mr A Bell Mr P Beal Mrs M Cartwright Mr I Edwards Mrs S Booth Mrs E Addison Mrs B Coates Miss K Cresswell Mr R Simpson Mrs F Hurst Mrs C Robinson Mr R Tilley Mrs S Cassidy