2022-08-31-accounts

Wolverhampton M Contents	Wolverhampton M Contents		thodist Circuit
For the year Ended			31August 2022
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 (Cont.)	Other Trustees (Cont.)	Maddy Coope	Maddy Coope		3anet Evans	3anet Evans
		Naomi Fearnley			Nicki Hale
		3ane Meddings			Lyn	Price
		Peter Share
Registered	Office:	Beckminster	Methodist		Church
		Birches Barn	Road
		Penn Fields
		Wolverhampton
		West Midlands
		WV3 7BQ
Charity:		1135146
Auditors		Muras Baker 3ones Limited
		Regent House
		Bath Avenue
		Wolverhampton
		West Midlands
		WV1 4EG
Bankers:		Lloyds Bank Pic
		Queen Square
		Wolverhampton
		West Midlands
		WV1 1TF
		Barclays Bank	Pic
		Queen Square
		Wolverhampton
		West Midlands
		HSBC Bank Pic
		Queen Square
		Wolverhampton
		West Midlands
		Central Finance		Board	of the Methodist	Church
		9 Bonhill Street
		London
		EC2A 4PE
Solicitors:		Anthony Collins		LLP
		Birmingham

General Fund Circuit Model Trust Fund Designated Funds Restricted Funds	E(106,651) E26,969 E(3,227) E(10,947)	(2021 —E(62,615) (2021 - E(65,304) (2021 —E(7,216) (2021 -E(4,534)	Deficit Surplus Deficit Deficit	for both years (deficit) for both years for both years

Unrestricted funds	Unrestricted funds
General Fund							1,563,009
Model Trust Fund							344,678
							1,907,687
Designated funds
Wednesfield Methodist		Church		Funds			3,659
							3,659
Total unrestricted	funds						1,911,346
Surplus Funds Endowed Funds from Wednesfield					Methodist	Church	10,358 58,328
Total restricted funds							68,686
Total funds							1,980,032
Less: Tied up in Restricted	freehold Funds		property		and fixtures		(1,464,001) (68,686)
							(1I532I687)
Total readily available			reserves				447,345

					Circuit Model
				General Fund	Trust Fund	Designated	Restncted	Totals	Totals
				(Unrestncted)	(Unrestncted)	Funds	Funds	2022	2021
			Note	I	I	I	I	I	I
Income
Donations and legacies				1,000				1,000	2,003
Charitable actiwties:
Assessment or	share		6	360,378				360,378	360,825
Grants			8	1,133				1,133	8,651
Other income			10	105,900		3,707		109,607	101,080
Investment income:
Income from monetary
investments				342	2,607		1,565	4,514	3,610
Property disposal				120,943				I20,943
Total Income				589,696	2,607	3,707	1,565	597,575	476,169
Expenditure on
Charitable activities:
Salanes and associated
cost'5			12	359,445		3,043		362,488	354,587
Distnct assessment				90,524				90,524	87,714
MTF levy					13,212			13,212	18,240
Property Costs			14	66,059		3,015		69,074	83,108
Office Expenses			15	12,381				12,381	8,7765
Depreciation				19,080				19,080	27,130
Other outgoings			16, 17	115,596	913		177	I16,686	42,084
Grants and donations			11	1,000				1,000
Total Expenditure				664,085	14,125	6,058	177	684,445	621,639
Net Income/
(expenditure)				(74,389)	(11,518)	(2,351)	1,388	(86,870)	(145,470)
Gains/(deficits) on
investments					(2,211)		(4r775)	(6r986)	(14870)
Transfers between		funds	18	(32r262)	40,699	(876)	(7,561)
Net movement	in	funds		(106r651)	26r969	(3r227)	(Igr947)	(93r856)	(130600)
Totalfunds brought
forward				1,669,659	317,709	6,886	79,634	2,073,888	2,204,488
Total funds carried
forward at end	ofyear			1,563,009	344,678	3,659	68,686	1,980,032	2,073,888

As at 31A	ug	ust 2	022
						Circuyt Model	Designated
				General	Fund	Trust Fund	Funds	Restncted	Totals	Totals
				(Unrestricted)		(Unrestricted)	(Unrestricted)	Funds	2022	2021
			Notes		E	E	E	E	E
Fixed Assets
Tangible fixed	assets		19	1,477,226					1,477,226	1,602,614
Investments with		TMCP	20			32,554		58,328	90,882	97,701
				1,477,226		32,554		58,328	1,568,108	1,700,315
Current Assets
Debtors			21	31,517					31,517	38,353
Investments with		TMCP	22			312,124		10,358	322,482	299,642
Central Finance 8oard
Deposits			22	98,017					98,017	80,690
Cash at Bank	and	in
hand			22	13,936			3,659		17,595	18,846
				143,470		312,124	3,659	10,358	469,611	437,531
Creditors: Amounts
falling due within		one
year			25	57,687					57,687	63,958
Net current assets				85,783		312,124	3,659	10,358	411,924	373,573
Total assets	less
current liabilities				1,563,009		344,678	3,659	68,686	1,980,032	2,073,888
Net assets				1,563,009		344,678	3y659	68,686	1,980,032	2,073,888
Funds ofthe	circuit
General Fund
(Unrestricted)			26.1	1,563,009					1,563,008	1,669,659
Circuit Model	Trust
Fund (Unrestricted)			26.1			338,613			338,613	309,433
Revaluation	Fund
(Unrestricted)			26.1			6,065			6,065	8,276
Designated Fund
(Unrestricted)			26.2				3,659		3,659	6,886
Other Funds
(Restricted)			27					61,943	61,943	68,116
Revaluation	Fund
(Restricted)			27					6,743	6,743	11,518
Total Funds			28	1,563,009		344,678	3,659	68,686	1,980,032	2,073,888

For the year ended 31August 2022
				2022	2021
			Notes	6
Cash from operating activities
Deficit for the year				(86,870)	(145,470)
Adjustments for:
Depreciation				19,080	27,130
Decrease/(increase) in debtors				6,836
Increase/(decrease) in creditors				(6,271)	(10,651)
Surplus on Fixed Asset disposal				(120,943)
				(101,298)	(24,469)
Net cash used in operating activities				(188,168)	(132,158)
Cash flows from investing activities
Purchase of tangible assets				(60,050)	(11,586)
Purchase of fixed asset investments				(167)	(849)
Proceeds from Fixed Asset disposal				287,301
Net cash (used in)/from investing	activities			227,084	(12,435)
Change in cash and cash equivalents		in the period		38,916	(144,593)
Cash and cash equivalents at start of period				399,178	543,771
Cash and cash equivalents at the end		of the period	22	438I094	399 178

							2022	2021
					General	Designated	Total	Total
					6		6	6
Church lay Rent from		contributions empty rnanses			48,123 14,736		48,123 14,736	47,239 24,008
Use of	Wednesfield			Church
premises						3,707	3,707	4,642
Use of	Darlington			Street Premises				2,011
Shared	Costs of		Minister shared
with Queens College					23,942		23,942	23,012
Sundry	Income		including
recovered		costs	on sales of
Darlington		Street		of E18,799	19,099		19,099	168
					105,900	3I707	109r607	101,080
Grants	and donations
During	the	year the Circuit made grants to Churches				and others as follows:
							2022	2021
							Total	Total
								6
Trinity	Codsall						1,000
							1,000

to the accounts 31August 2022 Staff costs
												2022	2021
												f.	6
Staff costs paid	during the		year		were:
Gross wages, salaries and benefits					in	kind					264,287		265,661
Employer's National		Insurance		costs								19,250	19,481
Pension costs											49,319		49,230
Other non-payroll	costs										29,632		20,215
Total staff costs											362,488		354,587
Average number year were:		offull-time		equivalent			employees			in the		16	16
No employee earned		more than		f60,000 (2021				- 660,000) in the			year.
The costs can be summarised			between			ministry		and	lay	worker support		as follows:
												2022	2021
												6
Ministry												278,441	266,213
Gross cost of lay	support											84,047	88,374
											362~488		354g587

As at 19.	31August 2022 Tangible fixed assets
	Cost or valuation			Fixtures,
				fittings and
			Manses	Equipment	Total
				E	E
	At 31August 2021		1,683,178	82,285	1,765,463
	Additions		55,670	4,380	60,050
	Disposals		(176,188)		(176,188)
	At 31August 2021		1,562,660	86665	li649g325
	Depreciation
	At 31August 2021		93,890	68,959	162,849
	Charge for year		14,599	4,481	19,080
	Disposals		(9,830)		(9,830)
	At 31August 2022		98,659	73,440	172,089
	Net book value
	At 31August 2021		1,589,288	13,326	1,602,614
	At 31August 2022		1,464,001	13g225	li477g226
20.	Fixed Asset Investments
				2022	2021
				6
	Cost brought forward			97,701	81,982
	Additions			167	849
	Unrealised (losses)/gains	on revaluation		(6,986)	14,870
	Cost carried forward			90,882	97,701

Notes	to the accounts
As at	31August 2022
21.	Debtors
				2022	2021
					8
	Trade Debtors			63	3,288
	Prepayments			28,594	31,781
	Short term loans			2,860	3,284
				31,517	38,353
22.	Cash and cash equivalents
	Cash and cash equivalents		comprise the following:
				2022	2021f
	Investments with	TMCP		322,482	299,642
	Central Finance Board deposits			98,017	80,690
	Cash at bank and	in hand		17,595	18,846
				438,094	399,178

reditors —	amounts falling due within one	year
		2022	2021
Accruals		28,9377	30,182
Assessments	in advance	26,877	27,654
Other Creditors		1,873	6,122
		57,687	63,958

				Opening	Incoming	Resources	Gains/	Transfers	Closing
Unrestricted		Fund		balancef	resourcesf	Expendedf	(Losses)f		Balancef
Name
General	Fund			1,669,659	589,696	(664,085)		(32,262)	1,563,009
Circuit	Model	Trust Fund		309,433	2,607	(14,125)		40,699	338,614
Revaluation		Fund		8,276			(2,211)		6,065
Totals				1,987,368	592,303	(678,210)	(2,211)	8,437	1,907I688
Unrestricted			funds	- Previous	year
				Opening	Incoming	Resoui'ces	Gains/	Transfers	Closing
Unrestricted		Fund		balancef	Resourcesf	Expendedf	(Losses)f		Balancef
Name
General	Fund			1,732,274	468,965	(594,186)		62,606	1,669,659
Circuit	Model	Trust Fund		379,954	1,519	(18,272)		(53,768)	309,433
Revaluation		Fund		3,059			5,217		8,276
Totals				2,115,287	470,484	(612,458)	5,217	8,838	1,987,368

Designate	d funds —Cu	rrent year
		Opening	Incoming	Resources	Gains/		Closing
Designated	Fund Name	balance E	resources f	Expended E	(Losses) E	TransfersI	Balance E
Wednesfield	Designated
Funds		6,886	3,707	(6,058)		(876)	3,659
Totals		6,886	3,707	(6,058)		(876)	3,659

		Opening	Incoming	Resources	Gains		Closing
		balancef	resources E	Expended E	(Losses)f	Transfers E	Balance E
Designated	Fund Name
Wednesfield	Designated
Fund		14,102	4,642	(9,000)		(2,858)	6,886
Totals		14,102	4,642	(9r000)		(2,858)	6,886
Restricted funds		—Current year
		Opening	Incoming	Resources	Gains/		Closing
Restricted	Fund Name balance E		resources E	Expended E	(Losses) E	Transfers I	Balance E
Surplus Funds Account		16,531	8			(6,181)	10,358
Wednesfield	Endowed	Funds 51,585	1,557	(177)		(1,380)	51,585
Wednesfield	Endowed
Revaluation	Fund	11,518			(4,775)		6,743
Totals		79,634	1,565	(177)	(4,775)	(7,561)	68,686
Restricted funds		—Previous year
		Opening	Incoming	Resources	Gains/		Closing
Restricted	Fund Name balanceI		resources E	Expended E	(Losses) E	Transfers E	Balance E
Surplus Funds Account Wednesfield Endowed		Funds 22,513 50,721	73 970	PS) (106)		(5,980)	16,531 51,585
Wednesfield	Endowed
Revaluation	Fund	1,865			9,653		11,518
Totals		75,099	1,043	(181)	9,653	(5,980)	79,634

					Circuit Model	Designated	Restncted
				General Fund	Tiust Fuiid	Funds	Funds	Totals
				(Unrestricted)	(Unrestricted)	(Unrestncted)	(Restricted)	2022
				6		6	I
Fixed Assets
Tangible	fixed assets			1,477,226				1,477,226
Fixed asset investments					32,554		58,328	90,882
Current	Assets
Debtors				31,517				31,517
TMCP Investments					312,124		10,358	322,482
Deposit	accounts			98,017				98,017
Cash at	Bank and	in	hand	13,936		3,659		17,595
Creditors: Amounts			falling
due within one year				(57,687)				(57,687)
Total				1,563,009	344,678	3,659	68686	ls980s032

ransacti	ons with connected parties	during the year are as follows	:
Names	of Connected Organisations		Receipts	Payments
			6	E
Donee:	District Advance Fund			90,526
Donor:	Churches within the Circuit	in respect of assessments	360,378
Donee:	Grants to churches within	the Circuit		1,000