Drèft Financial Statements at 10 lune 2024 at 09:15:07 charlty Registration No. 1135516 8EDE METHODISTCIRCUIT ANNUAL REPORT AND UNAUDITED FINANCIALSTATEMENTS FOR THEYEAR ENDED 31 AUGUST2023
Drnft Financial Statements at 10 June 2024 at 09:15:07 BEDE METHODISTCIRCUIT CONTENTS Page Trustees, report Independent examlner's report Statement of flnancial attlvltles io-ii Statement of financial posltion 12 Notes to the flnanclal statements 14.25
Draft Financial Statements at 10 June 2024 at 09:15:07 BEDE METHODIST CIRCUIT TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGU5TZ023 The trustees present their report and financial statements for the year ended 31 August 2023. The financial statements have been prepared in accordance wlth the accounting policies set out in note I to the financial Statements and comply with the charity's governing document, the Charities Act 2011 and 'Accounting and Reportlng by Charitles.. Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191" Oblectlves ond activities The charity's objects is to act as a Resource provlder within Gateshead South Tyneside and Sunderland. The purposes of the Methodist Church are and shall be deemed t¢ have been since the date of the Union the advancement of ~ the Chrlstian Falth In accordance wlth the doctrinal standards and the disclpllne of the Methodist Church any charitable purpose for the time bein8 of any Connexlonal Dlstrict circuit local or other organisatlon of the Method15t Church any charltable purp05e for the lime being of any soclety or In5t5tutlon subsldlary or ancillary to the Methodist Church any purpose for the time bein8 of any charlly being a charlty 5ubsidlary or anclllary to the Methodlst Church The 5trategles employed to achleve the circuit's aims and objectives are to organisation and resourclng of regular public acts of WOT5hip open to members of the church and non- rneMbe alike teaching of Chrlstianlty through sermons courses and small group5 promotion of Christlanity through the staglnB of events and services providing financial grants to assist circuit churches and associated bodies The trustees have paid due re8ard to guidance Issued by the Charity Commission in decldlng what activities the charity should undertake.
Draft Financial Statèments at 10 June 2024 at 09..15:07 BEDE METHODIST CIRCUIT TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AU6UST2023 Achievements and performance During the year our churches and circuit have continued to work hard for the communities in which we work nd are set. We have continued asse55 and evaluate both our work and our missional strategy. 4 churches have now ceased to meet and 3 will be sold. A proportion of the sale proceeds will used to fund missional work in the circuit and we have started to plan for how that will be used. The mission project for families and children at Kibble5worth ha5 continued and Ilnk5 Wlth the local school have been welcomed. A management team oversees the work and will continue to evaluate the effectiveness of the project Durin8 thi5 year we have seen success with a few churches In the Bede Circuit starting or continuing warml welcome spaces and/or places where people are fed. The Grace Place clrcuit projett in South Shields continues Its vltal work in providing welcome, help, food and provision, and prayer for those most in need. Thls Is supported by several volunteers from the local area and wider circuit. We wlll contlnue to face the challen8e5 and changes that are before u5 and to do the work of the Church. Flnanclal revlew The clrcuit suffered a deficit Ibefore the effect of tran5fersl of £124,33612022 deficit £56,563) on unrestrlcled funds and a surplus of £411,409 on restricted funds12022 surplus £184,798). Cash resources remaln healthy with bank balances of £153,62512022 . £178,230). ReseNes are needed to brldge the gap between the spending and receivin8 Of income and to cover unplanned expenditure. The trustee5 in 1Sne wlth Charity Commission 8uldance seek to have a minimum of SIX rnonth5 expenditure in reserves. The trustees do not believe Boing concern Is an i55ue in the next twelve months 8lven the ca¥eful flnancial management employed by the charity and level of monles held In the bank. Total reseeS held at 31 August 2023 were £1,010,363. Restr1cted reserves amounted to £903,267 leavlng unre5trScted reserves of £107,096. Restrirted reserves comprise of Advance fund held for one-off larger costs lo alleviate poverty and distre5S to ass15t spreading the word of the church Benevolent Mission The trustees has asse55ed the major risks to which the tharity Is exposed, and are satisfied that 5Y5tems are in place to mitigate exposure to the Major risks.
Draft Financial Statements at 10 June 2024 at 09:15:07 EDE METHODIST CIRCUIT TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2023 Safe8uardln8 Every persgn has a value and dignity which comes directly from the creatSon of male and female In God's own Image and Ilkene5s. Christians See thi5 Potential as fulfilled by God's re-creatlon of us in Christ. Among other things this implies 3 duty to value all people as bearing the image of God and therefore to protert them from harm. Methodist Connexional practice outlines comrnitment to the following principles- the core and nurture of and respectful pastoral ministry wlth all chlldren youn8 people and adults the safe8uardin8 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 vigllance as to the dangers of abuse we will carefully select and traln all those wlth any responsibility withln the church in line wlth safer recruitment principles including the use of crlmlnal records dlsclosure and re81Stration with the relevant vettlnB and barrin8 5cheme5 we will respond without delay to every cornplalnt made whlch suggests that an adult chlld or young person may have been harmed cooperating wSth the police and local authority In any investigatlon we wlll seek to work with anyone who ha5 suffered abuse developing wSth 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 we wlll seek to offer pastoral care and support includin8 5upervlsion and referral to the propel authoritles to any member of our church communlty known to have offended against any chlld young person or vulnerable èdult In all these princlples we will follow leglslation 8uid?nce and good practlce. The Bede Circuit commit5 Itself to ensuring the implementatlon of Connexional Safeguardin8 Pollcy government legislation guldance and safe practice in the Circuil and in the churches. The Bede Circuit commit5 Itself to the provision of supporr advice and trainin8 for lay and ordained people that will ensure people are clear and confident about their rules and responsibilities in safeguard5ng and promoting the welfare of children and adults who maybe vulnerable. Plan5 for future perlods As a clrcult we wlll continue to assess how can we utilise, emplDV* operate and develop the gifts and talents of our existing staff and make the effectlve and effectua1 use of their contributions as we assist our communitles where God has intentlonally and intellectually planted us to serve Him and his people. In future we are realistically and wisely looking at how we can reduce expenditure on simply just malntaining buildings and we are committed to continue increasing energies and endeavours to be a more visible vibrant and missiona I church and to be good and accountable steward5 towards all circuit moneys and belongin8S.
Draft Financial Statements at 10 June 2024 at 09..15:07 BEDE METHODIST CIRCUIT TRUSTEES. REPORT ICONTINUEOI R?R THE YEAR ENDED 31 AUGUST2023 Structure, 8overnance and management The governing document for the circuit is the Deed of Union119321 and the Methodist Church Att119761. Detalled governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual Meihodi5t ConfÈrÈnce. ManaginE trusteeship and overall Eovernance responsSblllty rests wlth the Circuit Meeting which meet5 at least twice a year. Day to day management of the CiTCUIt is undertaken by the Superintendent Minister Circuit Stewards and Circuit Leadership Tearn in partnership with other offlcers and committees as appropriate. The trustees who served during the year and up to the date of slgnature of the financial statements were..
Draft Finantial Statements at 10 June 2024 at 09:15:D7 BEDE METHODIST CIRCUIT TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGusf2023 Rev Jane Carter (Superintendent) Rev Matt Sheard Rev Huw Sperring Rev Deborah Wainwrighl Rev Cynthia Hardiman Rev judith Oldroyd Rev Paul Worsnop Mrs L Hartridge Ideceased 8.5.231 MrWLee Dr A Llshman MrsTWood Mrs Cworth Mrm Glass Mrs l Milburn Mrs l Bissett Mrs A Redhead Mlss H Newman Mrs B Rowell Dr L Wales Mrs L Gaddes Mr5 1 Morgan Mr I Smith Mr A Pitchers Mrs l Latlmer MT Mla Nkomci Mrs E Lowrence Mrs V CodlSn8 Mrs B Wallace Mrs S Blatk Mrs l Lloyd Mrs S Dixon Mr D Patiick Mr D Mllne Mr M Glass Mrs J Burn5 Mr5 M Hornby Mrs D Snowball Mrs P Robin50n Mrs E Cable Mrs L Harland Mr D Hay8arth MrABell Mrs J Peacock MrP Beal Mr S Phipps Mrs M Cartwri8ht Mr5 1 Edwards Mr l Edwards Mrs A Bell Mr5 S Booth Mrs E Bell Mrs E Addison Mrs B Coatès Miss CThompson Mi55 K Cre55well Mr5 S Norman Mr R Simpson Mrs B Donaldson Mrs F Hurst Mrs M Gibson Mrs C RobSnson Mrs P Dixon Mr R Tillev Mr K Reader Mrs S Cassidy Mr D Parker Mrs B Wallace
Draft Flnancial Statements at 10 June 2024 at 09:15:07 BEDE METHODIST CIRCUIT TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AU6UST2023 The triistees, report was approved by the Board of Trustee5. Trustee Dated..
Draft Flnanclal Statements at 10 June 2024 at 09:15:07 BEDE METHODISTCIRCUIT STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGusf2023 The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accountin8 Practice). The l?w applicable to charities in England and Wale5 requires the trtkstees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the ch3rity and of the incoming resources and application of resources of the charity for that year. In preparin8 these flnancial statements, the trustees are required to.. select suitable accounting policies and then apply them consistentlyi observe the methods and prlnclples in the Charitle5 SORP,. make judgements and estimates that are reasonable and prudent; state whether èpplicable accountSng standards have been followed, subject to any m?terlal departures disclosed and explalned In the financlal statements. and prepare the financial Statements on the golng concern basls unless it is Inappropriate to presume that the charity wlll contlnue in operation. The trustee5 are responslble for keepin8 sufflclent accounting records that disclose wlth Teascn?bSe ac¢ura¢y at any tlme the financial position of the charity and enable them to ensure that the financial Statements comply with the Charitles Act 2011, the Charlty (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responslble for safeguardin8 the assets of the charlty and hence for taking reasonable steps for the prevention and detection of fraud and other irre8ularltSe5.
Draft Financial Statements at 10 June 2024 at 09:15:07 BEDE METHODIST CIRCUIT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEDE MrrHoDIST CIRCUIT I report to the trustee5 on my examination of the financial statements Df Bede Methodlst Clrcuit (the charity) for the year ended 31 August 2023. Responslbilities and basls of report As the trustees of the charity you are responsible for the preparatlon of the linantial statements in accordance with the requirements of the Charities Act 2011 Ithe 2011 Actl. I report in respert of my examination of the charity's fTnanciol statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commisslon under Section 1451Sllbl of the 2011 Act. Independent examiner's statement Since the charlty's Eross income exceeded £250,000 your examlner must be a member of a body Ilsted in sectlon 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am mernber of ICAEW, whlch Is one of the15sted bodles. Your attentlon Is drawn to the fad that the charity ha5 prepared flnanclal statements in accordance with Accounllng and Reporting by Charitles preparln8 their accounts In accordance wlth the Flnancial Reportlng Standard appllcable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounllng and ReportinB by Charitie5'. Statement of Recommended Practice Issued on l April 2005 whlch is referred to in the extant regulations but has now been withdrawn. I understand that thi5 has been done in order for flnanclal statements to provide a true and falr vlew In accordance with Generally Accepted Accountin8 Piactice effective for reportlng periods beginnlng on gr after l January 2015. I have completed my examination. I conflrm that no matters have come to my attentlon in connection wilh the examlnation Eivlng me cause to believe that Sn any material respect- accountln8 records were not kept in respect of the charlty as requlred by section 130 of the 2011 Act,. or the flnancial statements do not accord with those r@cords,- or the flnanclal statements do not comply with the applicable requirements concernlng the form and content ol accounts set out in the Charities (Accounts and Reports) Regulatlons 2008 other than any requirernent that the account5 give a true and fair view which 55 not a matter considered as part of an independent examination. I hève no concerns and have come across no other matters In connection wilh the examinatlon to which attentlon should be drawn in thls report in order to enable a proper understandlng of the finantial statements to be reached. Stephen Lamb, FCA 12 Bessemer Court Hownsgill Industrial Park Knitsley Lane Consett Co Ourham
Draft Financlal Statements at 10 lune 2024 09.'15:07 BEDE MHoD15T CIRCUIT INDEPENDENT EXAMINER'S REPORT ICONTINUEDI TO THE TRUSTEES OF BEDE METHODIST CIRCUIT DH8 7BL Dated..
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Dr3ft Financial Statement5 at 10 June 2024 at 09".15:07 BEDE METHODISTCIRCUIT STATEMENT OF FINANCIAL POSITION ASAT31 AUGUST2023 2023 2022 Notes Flxed assets Property, plant and equipment Investments 12 13 323,S29 567,041 323,529 259,514 890,570 583,043 Current assets Trade and other receivables Cash at bank and in hand 14 21,630 153,625 24,630 178,230 175.255 155,4621 202,860 162,6131 Current Ilabllltles 15 Net ¢urrenl a5set5 119,793 140,247 Total a55et5 less current Ilabllltles 1,010,363 723,290 Income fund5 Restricted funds Unrestricted funds - Grace Place Unrestrlcted funds general 16 903,267 63,284 43,812 591,858 64,055 67,377 17 1,010,363 723,290 The flnancial statements were approved by the Trustees on Trustee 12-
Draft Fin3nc4al Statement5 at 10 June 20Z4 at 09:15:07 BEDE METHODIST CIRCUIT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGusf2023 2023 2022 Notes Cash flows from operatin8 activliles Cash absorbed by operations 20 1329,9591 192,8491 Investing activities Proceeds on disposal of property, plant and equiprnent Purchase of investments Proceeds on disposal of investments Investment income reeelved 596,376 190,592 13,0001 185,8991 11,197 1307,5271 16,505 Net cash generated from Investln8 actlvltles 305,354 112,890 Net cash used In financlng actlvltles Net Idecrea$elllncrease In cash and cash equlvalents 124,6051 20,041 Cash and cash equlvalents at beglnning of year 178,230 158,189 Cash and cash equlvalents at end of year 153,625 178,230 13-
Draft Financial Ststements at 10 June 2024 * 09:15:07 BEOE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 31 AUGUST2023 Accourting policles Charlty information 8ede Methodist Circuit is è public beneflt entity. 1.1 Accountln8 convention The financlal statements havè been prepared in accordance with the charity's governing document, the Charltles Act 2011 and "Accountln8 and Reporting by Charities: Statement of Recommended Prartice applicable to charitie5 preparin8 their accounts in accordance with the Flnantial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffectSve l January 20191 The charity 15 3 Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provlsSons In the SORP for charlties applyln8 FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Re8ulatlons 2008 only to the extent requlred to provide a true and fair view. Thls departure has involved followlng the Statement of Recommended Prartice for charities applying FRS 102 rather than the version of the Statemenl of Recommended Pracllce whlch is referred to Sn the Re8ulation5 but whlch has since been wlthdrawn, The flnanclal statements are prepared in sterlln8, whlch Is the fun¢tional currency of the Charlty. Monetary amounts in these flnanclal statements are rounded to Ihe nearest £. The flnanclal statements have been prepared under the hlstorical cost conventlon, modified to Include the revaluation of freehold properties and to include investment properties and certain financlal instruments at falr value. The prlncipal accountlng policies adopted are set out below. 1.2 Goln8 concern At the tlme of approvlng the financlal statements, the trustees have a reasonable expectation that the charity has adequate resources to contlnue In operational existence for the foreseeable future. Thus the trustees continue to adopt the golng concern basis of accountin8 in preparin8 the financial statement5. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees furtherance of thelr charitable objectives. Restricted funds are 5ublecl to specific tonditions by donor5 as to how they may be used. The purposes and use5 of the re5trlcted ftsnds are set out in the notes to the financial statements. Endowment funds are subject to Specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity Is legally entitled to it after any perf0mlan conditions have been mEt. the amounts can be rneaSUd rellably, and it is probable that income will be received. 14-
Draft Financial Statements at 10 June 2024 at 09:15:07 BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AU6UST2023 Accounting policies Icontlnuedl Cash donations are recognised on receipt. other donations are recognised once the charity has been notlfied of the donation, unless performance condltlons require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charlty ha5 been notified of an impendin8 distribution, the amount is known, and recelpt Is expetted. If the amount is not known, the legacy is treated a5 a contingent asset. 1.5 Expendllure Income and expenses are included In the financial statements as they become receSvable or due. Expenses include VAT where applicable as the company cannot reclalm It, 1.6 Propertyi plant and equipment Propertyi plant and equlpment are inltlally measured at C05t and 5ub5equently measured at cost or valuation. net of depreciation and any Impalrmenl losses, Depreclation is recogni5ed so as to write off the cost or valuation of assets less thelr re51dual values over their useful Ilve5 on the followin8 bases.. Manse o depreclatlon is provided on Manse5 The Bain or loss arlsing on the dSsposal of an asset Is determined as the dlfference between the Sale proceed5 and the ¢arryin8 value of the asset, and Is reco8nised In net incomellexpenditurel for the year. 1.7 Non-current investments Fixed osset investments are initially measured at transaction prlce excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised lfi net incomellexpenditurel for the year. Transactlon costs are expensed as incurred. 1.8 Impairrnent of non-current assets At each reporting end date, the charity reviews the carrying amout)ts of It5 tangible assets to determine whether there is any indication that those assets have SUffed an impairment loss. If bny such indication exSsts, the recoverable amount of the a55et is estimated in order to determine the extent of the impairment 1055 lif any). 1.9 Cash and cash equivalent5 Cash and cash equivalents include cash in hand, deposit5 held at call wlth banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 15-
Draft Financial Statements at 10 June 2024 at 09:15:07 BEOE METHODISTCIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED31 AU6UST2023 A¢countln8 policie5 (Continued) 1.10 Financial instrumènts The charity has elected to apply the provlsions of Section 11 'Basic Financial Instruments. and Sectlon 12 'Other Financial Instrumentslssues, of FRS 102 to all of its financial instrument5. Financlal Instruments are recognised in the charlty's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial a55ets and liabilities are offset, with the net amounts presented in the financSal statements, when there Is a legally enforceable ri8ht to Set off the recognised amounts and there is an Intention to settle on net basis or to realise the asset and settle the liability simultaneously. Boslcflntsnelal ossets Basic financlal assets, which include trade and other recelvables and cash and bank balances, are ifiltlally measured at transaction prSce including transactlon costs and are subsequently carrled at amortlsed cost using the effective Interest method unless the arrangement constitutes a financSng transaction, where the transartion 15 measured at the present value of the future receipts discounted at a market rate of Interest. Financlal assets classlfied a5 recelvable within one year are not amort15ed. Buslcflnonclal Ilubllltles Basic financial Ilabilities, Including trade and other payables and bank loans are initlally recogni5ed at tran5actlon price unless the arrangement constitutes a flnancing transaction, where the debt instrument Is measured at the present value of the future payments discounted at a market rate of Interest. Flna ncial Ilabllities classified as payable wlthin one year are not amortised. Debt Instruments are subsequently carried at amortlsed cost, usSng the effectlve Interest rate method. Trade payable5 are obll8ations to pay for goods or services that have been acqulred In the ordinary course of operations from suppliers. Amounts payable are classifled as current liabilities if payment is due within one year or le55. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction pri¢e and Subsequently measured at amortlsed cost using the effective Interest method. Derecognitlon ofAinondol IlobAlltles Financial liabilities are dereco8ni5ed when the charity's contractual obligations expire or are dlschar8ed or cancelled. Critical accountini estimates and judgements In the application of the charlty's aCCOLJnting policies, the trustees ale required to make judg@ments, eslimales and a55umptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and a550clated assumptions are based on historical experience and other factors that are ¢onsidered to be relevant. Actual result5 may differ from these estlmates. The estlmates and underlying a55umptions are revlewed on an ongoing basis. Revisions to accounting estimates are recogni5ed in the period in which the estimate 15 revised where the revision affects only that period. or in the period of the revision and future periods where the revision affeds both current and future periods.
Draft Financial Statement5 at 10 June 2024 at 09:15:07 BEDE METHODIST CIRCUIT NOTES TO THE FINANCIALsfATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST2023 Assessments and TMCP Unrestricted Unfe5tflcted funds lund5 Beneral Grace place 20Z3 2023 Total Unrestrlcted Unrestricted funds funds general Grace Place 2022 2022 Total 2023 2022 A5sessrnents and TMCP Grants 294,427 38,500 5,000 332,927 5,000 317,245 22,500 339.745 294,427 43,500 337,927 317,245 22,500 339.74S Assessments and TMCP Assessments Connexlon and DSstrict Donatlons 269,223 2S9,223 37,500 26,204 317,245 317,245 20,500 2,0 37,500 I,OLTr) 20,500 2,000 25,204 294,427 38,500 332,927 317,245 22,500 339,745 Rental and Investment Income Restrlcted Unrestricted funds funds general 2022 Restricted funds Total 2023 2022 2022 Rental income Dlvldends Interest receivable 10,4S7 10,457 28 42 16,463 28 712 712 16,505 10,457 740 11,197 17-
Oraft Financial Statement5 at 10 June 2024 at 09:15:07 BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2023 Dther Income Unrestricted funds 8eneral 2023 Restricted funds Total Unre5tTlCted fund5 general 2022 Restricted funds Total 2023 2023 2022 2022 Net galn on dlsposal of tanglble flxed assets Other Income 596,376 596,376 4,967 I,592 190,592 6,166 4,967 6,166 4,967 596,376 601,343 6,166 190,592 196,758 The above net gains on disposal of tangible fixed assets arlses from 5ale5 of residential properties. 18.
Draft Financial Statements at 10 June 2024 * 09'.15:07 BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2023 Charitable activities Operatln8 Operating costs C05t5 2023 2022 District assessment District levy Minister allowances Lay workers Pension c05tS Travel Telephone and postage Trainlng and books Quinnquennials Repairs Insurance rent and utilities Councll lax Sundry Management charges Shop costs . Grace Place 79,005 190,354 153,381 95,388 5,419 10,759 6,087 5,068 7,920 14,568 49,012 9,684 1,827 724 17,179 77,988 158,736 87,230 4,691 9,988 6,314 4,013 3,600 14,180 12,638 11,279 1,361 482 13,776 646,375 406,276 Grant fundlng of activities lsee note 71 Share of support costs lsee fiote 81 10,976 11,335 13,469 668,686 419,745 Analysls by fund Unrestricted funds- general Unrestricted funds- Grace Place Restricted funds 422,959 44,271 201,456 389,182 24,121 6,442 668,686 419,745 Employers National Insurance of £4,94312022 £4,721) is included In Lay Worker51Shop Expenses above. Ministers allowances include5 Ewnployers National Insurance of £10,305 12022 £10,718) and Employers Pension Contributions of £29,16412022 £27,7871.
Draft Financial Statement5 at 10 lune 2024 at 09:15:07 BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGusf2023 Grants payable Operatln8 costs 2022 2023 Grants to institutlons.. Other 10,976 Support costs Support Governance costs Costs 2023Support costs Governance costs 2022 Legal fees Adminlstration Independent examiner 6,243 3,952 1,140 6,243 3,952 1,140 7,689 4,940 840 7,689 4,940 840 11,335 11,335 13,469 13,469 Analysed between Charltable activitie5 11,335 11,335 13,469 13,469 Trustees None of the trustees lor any persons connected with them) received any remuneration or benefit5 from the charlty during the year in their capaclty as atting as trustees. 10 Employees The average monthly ntsmber of employees durln8 the year was.. 2023 20Z2 Number Number -20-
Draft Financial Statements at 10 June 2024 at 09:15:07 BEDE METHODIST CIRCUIT NOTESTOTHE FINANCIAL STATEMENT5 ICONTINUEDI FOR THE YEAR ENDED 31 AUGU5T2023 11 Net gains/llosse51 on investments Restrl¢ted funds Restricted funds 2023 2022 Revaluation of investments 1161 1921 12 Propertyi plant and equipment Manse Cost At I September 2022 323,529 At 31 Au8U5t 2023 323,529 CarrySllg amount At 31 August 2023 323,529 At 31 August 2022 323,529 13 Flxed asset Investments CFB Mana8ed Ellzabeth TMCP Mixed FundGrl88s Bequestmanaged Fund Total Cost or valuatlon At I September 2022 Valuation changes Sale of property Disposa15 1,418 1601 4,505 45 253,591 14,896 406,022 1110,3761 259,514 14,881 406.022 1113,3761 13,0001 At 31 August 2023 1,358 1,5SO 564,133 567,041 Carrying amount At 31 Au8ust 2023 1,358 1,550 564,133 567,041 At 31 August 2022 1,418 4,505 253,591 259,514 21
Draft Financial Statements at 10 June 2024 at 09:15'.07 BEDE MEfHOD15T CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR EAIDED 31 AUGUST2023 14 Trade and other receivables 2023 2022 Amounts fallln8 due wlthin one year: Assessment due Other receivables 21,630 2 1,630 3,000 21,630 24,630 15 Current liabilitles 2023 2022 Assessments in advance Other payables Accruals and deferred Income 51,257 3,065 1,140 58,708 3,065 840 55,462 62,613 .22-
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Draft Financial Statement5 at 10 June 2024 at 09.'15..07 BEDE METHODIST CIRCUIT NOTES TOTHE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST2023 19 Related party transactions There were no di5c105able related party transaction5 durlng the year12022- none). 20 Cash Benerated from operatlons 2023 2022 Surplu5 for the year 287,073 128,235 Adjustments for-. Investment income recognlsed In statement of flnanclal actlvities Gain on disposal of property, plant and equipment Falr value galn5 and 1055es on investments 116,5051 1596,3761 111,1971 1190,5921 92 Movements In working capital.. Decrease/lincrea5el in trade and other recelvables (Decrease) in trade and other payable5 3,rJ)O 17,1511 114,1531 15,2341 Cash absorbed by operatlons 1329,9591 192,8491 -25-