##
|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||
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|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|||||
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|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|
|---|---|---|---|---|
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|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|
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||||||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|
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|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|
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|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|
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||||||||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||
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|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|
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|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|
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|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|
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|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|
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|||||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|
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|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|
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|||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|
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||||||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|
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|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|
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