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2022-08-31-accounts

REGISTERED CHARITY NUMBER: 1135822

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

FOR

STAFFORD METHODIST CIRCUIT

Crombies Accountants Limited Chartered Accountants 34 Waterloo Road Wolverhampton West Midlands WV1 4DG

STAFFORD METHODIST CIRCUIT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

Page
Reference and Administrative Details 1 to 2
Report of the Trustees 3 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 19
Detailed Statement of Financial Activities 20

STAFFORD METHODIST CIRCUIT

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2022

MINISTERS

Rev. P M Salter Rev. J Kaci

LAYWORKERS

Mrs C A Hamer Mrs I J Wakerell

CIRCUIT STEWARDS

Dr P C Yates Mr P W Hardy Mrs J D Wood Mrs J Harrison Mr D A Hemingway

CIRCUIT MEETING SECRETARY

Mrs L B Reade

LOCAL PREACHERS REPRESENTATIVES

Mrs G F Ashmore Mrs M E Winnington Mrs J M Timmis

CIRCUIT REPRESENTATIVES TO SYNOD

Mr P Hardy Mrs V Bates Dr S McCready-Shea Mrs M E Hemingway

CHURCH REPRESENTATIVES

Barlaston

Mrs K A Ford Mrs K M Bradburn

Berkswich

Mrs L M Westoby Mr T A S Goodchild

Bishops Offley

Mrs M E Hemingway Mrs J Palin Mrs A Hardy

Eccleshall

Mrs C Harper Mrs D H Kirkham Mrs M Embrey

Gnosall

Mr W D Basford Mr T H Harrison Mrs J Jobling

Milwich

Mr R W Knight Mrs E Hodson

Page 1

STAFFORD METHODIST CIRCUIT

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 AUGUST 2022

Rising Brook Mr I F Baldwin Mrs I M Cantrill Mrs S Francis

St. John's Stone

Mrs A Dair Mr A R Heath (until 23/03/22) Mr A J A Lockett (from 23/03/22) Mr D C Stewart

Trinity Stafford

Miss W E Harris Mr T Houghton Mr A Lowe Miss L Birch

Weston

Mrs B Gillespie Mr C Gillespie

PRINCIPAL ADDRESS Circuit Office Asbury House Merrey Road Stafford ST17 9LX

REGISTERED CHARITY 1135822 NUMBER INDEPENDENT EXAMINER Crombies Accountants Limited Chartered Accountants 34 Waterloo Road Wolverhampton West Midlands WV1 4DG INVESTMENT BANKERS Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE The Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ

Page 2

STAFFORD METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

The trustees present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The purposes of the Methodist Church are, and shall be deemed to have been since the Date of Union, the advancement of:

a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;

b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church;

c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;

d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church

The Circuit produces a bi-monthly preaching plan to ensure that regular acts of worship take place at each of the 7 Methodist Churches and 3 Local Ecumenical Partnerships in its geographical area. The Stafford Circuit is constituted to offer acts of worship in its church communities and to further the mission of the Church in Stafford and across the borough of Stafford. With our primary internal function being that of Christian worship, we aim to provide access to acts of worship in each of the 10 Circuit churches every Sunday.

Our internal structure is based on a Circuit Meeting which meets four times a year; a Local Preachers meeting which meets around four times a year; Circuit Leadership Team meetings throughout the year, and Staff Meetings which meet monthly. We endeavour to make our meetings focus on the on-going development of the Circuit; they are the place where important decisions are made and within them, we plan our strategies and fulfil our role as Charity Trustees.

Public benefit

We confirm the trustees have had regard to the Charity Commission's guidance on public benefit.

Page 3

STAFFORD METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

2021/2022 has required us both to consider the new ways of working due to the pandemic which began to affect the way we operated from March 15th 2020 and reflect on what of our previous patterns of practice to reimplement, as restrictions have begun to be lifted. The ordained staff team remains the same with two full time presbyters working alongside one administrator, two pastoral workers and two youth workers. We have worked as a team across the whole circuit with the core team of presbyters, administrator and pastoral workers meeting regularly to ensure the ministry of the church is effective. From September 2022 the Circuit will have a new Superintendent (lead) Presbyter as our current Superintendent retires.

Before the pandemic both Rowley Street and Woodseaves Methodist Churches had made the decision to close. We have been pursuing the possibility of selling both buildings. It had been our hope to complete these sales in the 2021/2022 year, however this has not been possible, and our hope is for the sales to be achieved in the 2022/2023 calendar.

As something of the new normal has been found, we have continued to offer an online presence for worship and teaching, while recognising that the churches within the Circuit are starting to require support for face-to-face activities once again too. For as much of the period of 2021/2022 as possible we have offered worship at each of our congregational spaces on alternate weeks to the worship offered online via zoom, and have continued to produce pre-recorded worship fortnightly, when another online service would not be available from the Circuit via Zoom. We continue to hold to the fact that Worship and Teaching are both the necessary aspects of our life together as a charity, that through these, the wider aspects of our responsibilities and actions are honed and fashioned, these are often expressed through the nature of "Our Calling"

Our churches seek to embrace the breadth of 'Our Calling' whilst also recognising the challenges and difficulties. We are rooted in a number of different local communities, but our vision is much wider as we seek to serve the wider church and world in our work. Work in the community continues to be an important aspect of the circuit's mission. Sadly, the pandemic has meant that our buildings were not available for community use for long periods of time. The return to using our buildings by various user groups has been slow. However, this has not prevented the churches finding ways to reach out to their communities. Our youth workers continue to support the young people in a variety of ways. When considering achievements and performance it is right to pay tribute to the many people throughout the circuit who in their daily lives respond to the call of Jesus "follow me" by offering pastoral care and/or practical help, and, to the team of Local Preachers' who enable services to take place Sunday by Sunday. We operate an open-door policy and welcome all to our church communities and wider work irrespective of race, gender, ethnicity, sexuality or any kind of disability, taking seriously the challenge to love God, self and neighbour.

Alongside our continued day to day engagement in activities has been a renewal of our leadership and trusteeship to help us in the days ahead. Our Circuit Leadership Team, who are given delegated authority by the Managing Trustees to shape and direct our practices between meetings and offer a wider vision of practice to be affirmed within the Managing Trustees meetings, have been expanded to include new members taking on responsibility for both the buildings of the Circuit and the outreach of the trust. Alongside this change has been a renewal of the Circuit meeting (trustees body) to utilise Zoom to meet more regularly than was viable during the pandemic and a refreshing of those on the trust, in order to better represent the wider life of the Circuit and its churches.

Page 4

STAFFORD METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW

Financial position

Circuit income is drawn primarily from the assessments paid by the circuit member churches, and during the year these totalled £213,628 (2021: £224,010) - the difference being largely down to an adjustment in 2022 to account for an error in gift aid allocation made in 2020.

During the year the circuit also received donations of bank funds and rental income valued at £8,079 (2021: 18,651) - the major reduction resulting from the need to cease the rental of one manse to accommodate the incoming Superintendent. Total income last year 2021 had been elevated due to the exceptional transfer of assets of two churches, namely Rowley Street and Woodseaves, both church properties have been offered for sale, and whilst this was anticipated in 2021-22, this value is expected to be realised in next year's 2023 accounts.

Expenditure for the year was 13% lower total in 2022 compared with 2021, however, there were significant variations within the categories, notably in four areas a) the reduction of £21,160 salary cost associated with the redundancy of the Childrens Worker in 2021, b) £8,649 increase in office and travel expenses due to the return to more normal activities post-pandemic, c) additional £21,160 expenditure on refurbishment of the Widecombe Ave manse in preparation for the new Superintendent, and d) as was reported last year, the Circuit Meeting approved grants being made to all churches based on a formula which reflected their loss of lettings and offertory income due to the pandemic. These grants totalled £44,352 and were paid in two instalments before the end August 2021, no such payment was made in 2022, however, a third is approved and planned upon the sale of Rowley Street (expected in 22-23 accounts).

As at 31 August 2022, total funds stood at £1,190,608 (2021: £1,237,702). Unrestricted funds, excluding Land and Buildings (with asset value £925,000), were at £265,608 (2021: £312,702) of which £193,857 (2021: £225,464) was designated for particular purposes, these being Property Refurbishment, St Johns M&D, Superintendents Discretionary and Redundant Property Fund. This leaves a general unrestricted fund of £69,500 (2021: 76,127).

It is expected that the sales of the redundant properties, namely Rowley Street and Woodseaves churches, will take place in 2022-23. A proportion of the income from these has already been sunk into their maintenance, upkeep and cost of selling, however, it is hoped that the net value after church levies will be allocated to the continued ministry & mission in the Circuit.

Page 5

STAFFORD METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW Reserves policy

General

It is the Trustees policy to maintain a balance of unrestricted and undesignated funds equivalent to between three and four months average unrestricted expenditure, to cover unexpected requirement which may occur from time to time, this equates to between £66-88,000.

In addition, the aim is to maintain a fund of between £50,000 and £75,000 to enable the Circuit to assist its churches with appropriate grants and loans. With the above provisions, the general reserve equates to a minimum of £116,000 to maximum £163,000.

St Johns Mission & Development Fund

This fund, set up with the Methodist share of the proceeds from the sale of the St John's Church building, has been designated for St John's use in developing its future mission plans. The fund is monitored by the Circuit Meeting to ensure that that monies will be used, both for an approved purpose and within a reasonable timescale.

Property Refurbishment Fund

Manse refurbishments are carried out at irregular intervals, usually to coincide with a change in Minsters, and can therefore fluctuate considerably from year to year. This fund was depleted in 21-22, as work was carried out on Widdecombe Ave manse prior to the arrival of the current Superintendent. In order that there is adequate provision is made for future costs, this fund will receive a transfer from General fund of £5,000-8,000 each year, but will be capped at a maximum of £25,000.

Redundant Property Fund

The Circuit received a considerable and extraordinary income last year from the transfer of the assets of two churches which had ceased to meet, namely Rowley Street and Woodseaves. It was decided that, rather than absorbing these into the General Fund, a specific unrestricted fund be set up to manage and report the income and expenditure for these properties. This has been named the 'Redundant Property Fund. Costs associated with maintaining and preparing these properties for sale have been allocated to this fund, which will also be used to reconcile the balances from realisation of the assets.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976).

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).

Induction and training of new trustees

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976).

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).

Related parties

The Circuit is part of the Wolverhampton & Shrewsbury District and is also accountable to the Methodist Conference.

The following Methodist Churches/LEP's are linked to the circuit: Barlaston, Berkswich, Bishops Offley, Eccleshall, Gnosall, Milwich (LEP), Rising Brook, St Johns-Stone (LEP), Trinity (LEP), Weston.

Page 6

STAFFORD METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk management

The major risks associated with the Circuit have been identified by the Circuit Leadership Team. A regular review process is in place and will be recorded.

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 Stafford Methodist 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 Stafford Methodist 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 may be vulnerable.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Rev R D Bintliff - Trustee

Page 7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STAFFORD METHODIST CIRCUIT

Independent examiner's report to the trustees of Stafford Methodist Circuit

I report to the charity trustees on my examination of the accounts of Stafford Methodist Circuit (the Trust) for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Ian Cattell FCA Chartered Accountant Crombies Accountants Limited Chartered Accountants 34 Waterloo Road Wolverhampton West Midlands WV1 4DG

Date: .............................................

Page 8

STAFFORD METHODIST CIRCUIT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
4
Assessments on Churches
Rents received
Other trading activities
2
Investment income
3
Total
EXPENDITURE ON
Charitable activities
District Assessment & Levy
Support costs
Stipends,salaries,NIC & Pensions
URC Mission & Ministry
Office Expenses
Telephone & Travelling Expenses
Property Expenses
Grants to churches
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
15
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
-
213,628
3,931
3,158
990
221,707
43,047
6,208
138,572
9,876
25,380
9,576
33,609
-
266,268
(44,561)
6,327
(38,234)
1,226,591
1,188,357		 Restricted
fund
£
-
-
-
-
-
-
-
100
2,433
-
-
-
-
-
2,533
(2,533)
(6,327)
(8,860)
11,111
2,251		 2022
Total
funds
£
-
213,628
3,931
3,158
990
221,707
43,047
6,308
141,005
9,876
25,380
9,576
33,609
-
268,801
(47,094)
-
(47,094)
1,237,702
1,190,608		 2021
Total
funds
£
372,593
224,627
11,016
6,937
698
615,871
44,007
7,757
165,814
8,621
20,231
6,076
12,449
44,352
309,307
306,564
-
306,564
931,138
1,237,702

The notes form part of these financial statements

Page 9

STAFFORD METHODIST CIRCUIT

BALANCE SHEET 31 AUGUST 2022

Notes
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank
12
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
925,000
7,894
310,807
318,701
(55,344)
263,357
1,188,357
1,188,357		 Restricted
fund
£
-
-
2,251
2,251
-
2,251
2,251
2,251		 2022
Total
funds
£
925,000
7,894
313,058
320,952
(55,344)
265,608
1,190,608
1,190,608
1,188,357
2,251
1,190,608		 2021
Total
funds
£
925,000
7,581
344,344
351,925
(39,223)
312,702
1,237,702
1,237,702
1,226,591
11,111
1,237,702

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P W Hardy - Trustee

The notes form part of these financial statements

Page 10

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research and judgement. The accounts are expressed in £ Sterling, rounded to the nearest pound.

Going concern

In common with many entities the effects of the Covid -19 Pandemic have had an impact on the activities of the Circuit and its member Churches. However based upon the monetary assets and human resources available at 31 August 2022, the trustees believe that the Circuit is a going concern.

Consolidation

The Circuit has denominational regulatory oversight in respect of the work of the Churches within the Circuit but has no legal or operational control of those Churches and their governing bodies except in extreme circumstances. For this reason, the financial statements of Churches within the Circuit are not consolidated into these financial statements.

Income

Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants made by the Circuit from its own funds are recognised in full at the time of agreement to make a grant without performance conditions or as and when the Circuit accepts that there is a legal or operational obligation to make the payment if it is subject to performance conditions. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.

Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £1,000. The freehold property is shown in the accounts at 2015 deemed values, of which the land component is deemed to be £150,000. No depreciation is provided on the buildings because the trustees consider the current residual value of the property in its present condition to be not less than its current value, and in the absence of any evidence of impairment, any depreciation provision would not be material. From time to time the Circuit may be required to assume responsibility for Church premises following closure and cessation

for worship. This results in the Circuit becoming Managing Trustees for the property. At that time the property is recognised as an asset at its anticipated net sale price as determined by a professional valuation. Any expenditure on such assets, if held for reinvestment of the proceeds, as the trustees determine, that is likely to enhance sales value is capitalised at the time the expenditure is incurred. Where the proceeds are intended to be spent on activities, the property is included in current assets at the lower of cost and realisable value.

continued...

Page 11

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES - continued

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

The Circuit is a member of the Connexional pension scheme (MMPS) which covers presbyters and deacons of the Methodist Church. The contribution rates are set each year by the Methodist Conference. The MMPS is a multi-employer scheme and in accordance with the guidance issued by the Charity Commission, the Circuit accounts for these contributions as if it were a defined contribution scheme. The Circuit also has four lay employees enrolled in a defined contribution pension scheme administered by The Pension Trust. Employer contributions are made into this scheme on behalf of employees who are members.

2. OTHER TRADING ACTIVITIES

3.

4.

Other income
INVESTMENT INCOME
Deposit account interest
INCOME FROM CHARITABLE ACTIVITIES
Activity
Assessment on churches
Assessments on Churches
Lettings-non-investment
property
Rents received
Office space
Rents received		 2022
£
3,158
2022
£
990
2022
£
213,628
2,155
1,776
217,559		 2021
£
6,937
2021
£
698
2021
£
224,627
9,240
1,776
235,643

Assessments on Churches

At the beginning of the year, the Circuit comprised of 10 churches and each was assessed for a contribution to meet the overall net costs of the Circuit. For several years the Circuit has been engaged in a plan to ensure that each church's contribution is assessed on a fairer basis than that used in the past. The method used takes account, to varying degrees, of membership, attendance and income, utilising an annual cap on the size of individual annual adjustments.

Property Rentals

The Circuit's manse in Widecombe Avenue was let out on a short-term basis during the year, however, this lease was ended to permit refurbishment work to be carried out prior to housing the new Superintendent & family from July 2022.

continued...

Page 12

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

5. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Support costs 2,400

6. TRUSTEES' REMUNERATION AND BENEFITS

Certain trustees are remunerated as employees of the Circuit. All payments to trustees are at normal market rates and are subject to review by independent members of the trustee body. Total annual amounts paid to trustees were as follows:

Stipends and salaries - £120,216 Employer's national insurance contributions - £8,807

Employer's contributions to defined benefit pension scheme - £1,839

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

7. STAFF COSTS

The Suprintendent of the Circuit, the other Presbyters and the remaining members of the Circuit Leadership Team (CLT) are considered as Key Management Personnel. The Superintendent chairs meetings of the CLT and Circuit Meetings. The members of the Circuit Meeting are the trustees of the Circuit. The stipends, employer's NIC and employer's pension contributions and other expenses of the Presbyters of the Circuit are paid by the Circuit. The manses are provided by the Circuit and the Circuit maintains the property (one manse in the Circuit is owned by the United Reformed Church (URC) and is maintained jointly under a sharing agreement). The value of Council Tax and water charges is not disclosed here as HMRC does not regard this as a benefit-in-kind in the hands of the minister.

The average monthly number of employees during the year was as follows:

Methodist Presbyters
Lay employees		 2022
2
5
7		 2021
2
6
8

No employees received emoluments in excess of £60,000.

8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Assessments on Churches
Rents received
Other trading activities
Investment income
Total		 Unrestricted
funds
£
353,847
224,627
11,016
2,081
698
592,269		 Restricted
fund
£
18,746
-
-
4,856
-
23,602		 Total
funds
£
372,593
224,627
11,016
6,937
698
615,871

continued...

Page 13

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

8.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
EXPENDITURE ON
Charitable activities
District Assessment & Levy
Support costs
Stipends,salaries,NIC & Pensions
URC Mission & Ministry
Office Expenses
Telephone & Travelling Expenses
Property Expenses
Grants to churches
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 ACTIVITIES -
Unrestricted
funds
£
44,007
7,757
136,720
8,621
20,231
6,076
12,449
44,352
280,213
312,056
914,535
1,226,591		 continued
Restricted
fund
£
-
-
29,094
-
-
-
-
-
29,094
(5,492)
16,603
11,111		 Total
funds
£
44,007
7,757
165,814
8,621
20,231
6,076
12,449
44,352
309,307
306,564
931,138
1,237,702

9. FUNDS

The funds held constitute:

Unrestricted Funds

General Fund

The purpose of the fund is for use at the discretion of the trustees in the furtherance of the general objectives of the Circuit.

Circuit Model Trust Fund

This consists of income from churches. They have wide purposes as defined by the Trustees for Methodist Church Purposes (TMCP). Permission must be sought from TMCP to call on money for specific building projects or to support the mission in general.

Property Refurbishment Fund

This fund is used by the trustees as a provision for future refurbishments and major repairs as at the balance sheet date and is categorized as unrestricted designated fund. There was no movement in this fund.

St John's M&D Fund

This fund, set up with the Methodist share of the proceeds from the sale of the St John's Church building, has been designated for St John's use in developing its future mission plans. The fund is monitored by the Circuit Meeting to ensure that that monies will be used, both for an approved purpose and within a reasonable timescale.

Superintendent's Discretionary Fund

The fund is for discretionary spend in cases of local needs and is categorized as unrestricted designated fund. There was no movement in this fund.

Redundant property fund

continued...

Page 14

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

9. FUNDS - continued

These monies have been ring fenced for the development of redundant churches whose assets were transferred to the circuit.

Restricted Funds

Children's Worker Fund

This fund was closed in the year to 2021, as the Childrens Worker was made redundant during the pandemic. A separate fund has been developed for a Schools worker, however, this new fund will be managed by Berkswich Church, with Stafford Circuit providing employee payroll services. Remaining monies from the Childrens Worker Fund will be transferred to Berkswich Church.

10. TANGIBLE FIXED ASSETS

10. TANGIBLE FIXED ASSETS
Residential Other
land Manses buildings Totals
£ £ £ £
COST
At 1 September 2021 and 31 August 2022 150,000 175,000 600,000 925,000
NET BOOK VALUE
At 31 August 2022 150,000 175,000 600,000 925,000
At 31 August 2021 150,000 175,000 600,000 925,000
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£ £
Prepayments 7,894 7,581
12. CASH AT BANK AND IN HAND
General Circuit Designated
fund Model Trust Fund
£ £ £
Central Finance Board 75,666 4,208 28,814
CAF bank 45,987 - -
Trustees for Methodist Church purposes - 129,524 -
Lloyds Bank 832 - -
Total 122,485 133,732 28,814
2022 2021
Redundant
property Childrens Total Total
fund worker fund funds funds
£ £ £ £
Central Finance Board - 2,251 110,939 145,696
Natwest Bank - - - 1,334
CAF bank - - 45,987 36,294
HSBC Bank 25,776 - 25,776 1,718
Trustees for Methodist Church purposes - - 129,524 133,470
Lloyds Bank - - 832 832
CBF Church of England Fund - - - 25,000
Carried forward 25,776 2,251 313,058 344,344

Page 15

continued...

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

12. CASH AT BANK AND IN HAND - continued

Redundant
property
Childrens
fund
worker fund
£
£
Brought forward
25,776
2,251
Total
25,776
2,251
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 14)
Trade creditors
Funds held for churches
Accounts examination
Assessments in advance
14.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
15.
MOVEMENT IN FUNDS
Net
movement
At 1.9.21
in funds
£
£
Unrestricted funds
General fund
701,127
(12,917)
Circuit Model Trust
137,678
(3,947)
Designated Fund
43,506
(14,692)
Redundant property fund
344,280
(13,005)
1,226,591
(44,561)
Restricted funds
Childrens worker fund
11,111
(2,533)
TOTAL FUNDS
1,237,702
(47,094)		 2022
Total
funds
£
313,058
313,058
2022
£
19,500
202
-
2,400
33,242
55,344
2022
£
19,500
Transfers
between
funds
£
6,327
-
-
-
6,327
(6,327)
-		 2021
Total
funds
£
344,344
344,344
2021
£
8,772
-
(5,191)
2,400
33,242
39,223
2021
£
8,772
At
31.8.22
£
694,537
133,731
28,814
331,275
1,188,357
2,251
1,190,608

Page 16

continued...

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Circuit Model Trust
Designated Fund
Redundant property fund
Restricted funds
Childrens worker fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Circuit Model Trust
Designated Fund
Redundant property fund
Restricted funds
Childrens worker fund
TOTAL FUNDS		 Incoming
resources
£
219,170
607
893
1,037
221,707
-
221,707
At 1.9.20
£
729,446
137,678
47,411
-
914,535
16,603
931,138		 Resources
Movement
expended
in funds
£
£
(232,087)
(12,917)
(4,554)
(3,947)
(15,585)
(14,692)
(14,042)
(13,005)
(266,268)
(44,561)
(2,533)
(2,533)
(268,801)
(47,094)
Net
movement
At
in funds
31.8.21
£
£
(28,319)
701,127
-
137,678
(3,905)
43,506
344,280
344,280
312,056
1,226,591
(5,492)
11,111
306,564
1,237,702

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund
Redundant property fund
Restricted funds
Childrens worker fund
TOTAL FUNDS		 Incoming
resources
£
237,353
1,004
353,912
592,269
23,602
615,871		 Resources
Movement
expended
in funds
£
£
(265,672)
(28,319)
(4,909)
(3,905)
(9,632)
344,280
(280,213)
312,056
(29,094)
(5,492)
(309,307)
306,564

continued...

Page 17

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Circuit Model Trust
Designated Fund
Redundant property fund
Restricted funds
Childrens worker fund
TOTAL FUNDS		 At 1.9.20
£
729,446
137,678
47,411
-
914,535
16,603
931,138		 Net
movement
in funds
£
(41,236)
(3,947)
(18,597)
331,275
267,495
(8,025)
259,470		 Transfers
between
funds
£
6,327
-
-
-
6,327
(6,327)
-		 At
31.8.22
£
694,537
133,731
28,814
331,275
1,188,357
2,251
1,190,608

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Circuit Model Trust
Designated Fund
Redundant property fund
Restricted funds
Childrens worker fund
TOTAL FUNDS		 Incoming
resources
£
456,523
607
1,897
354,949
813,976
23,602
837,578		 Resources
Movement
expended
in funds
£
£
(497,759)
(41,236)
(4,554)
(3,947)
(20,494)
(18,597)
(23,674)
331,275
(546,481)
267,495
(31,627)
(8,025)
(578,108)
259,470		 Resources
Movement
expended
in funds
£
£
(497,759)
(41,236)
(4,554)
(3,947)
(20,494)
(18,597)
(23,674)
331,275
(546,481)
267,495
(31,627)
(8,025)
(578,108)
259,470
267,495
(8,025)
259,470

Transfers between funds

The transfer between funds shown in the current year relates to the correction of an error which arose during the year ended 31 August 2020. The transfer of £6,327 from the Children's Worker restricted fund to the general unrestricted fund represents gift aid tax refunds which were incorrectly allocated to the Children's Worker fund in the earlier period instead of to the general unrestricted fund. This transfer has no effect on the financial results of the current or preceding periods.

continued...

Page 18

STAFFORD METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

16. CONTINGENT LIABILITIES

No Contingent liabilities were identified at 31st August 2022.

17. RELATED PARTY DISCLOSURES

Related Parties include The Methodist Connexion, the Wolverhampton & Shrewsbury District, Churches within the Circuit (listed below), CFB and TMCP.

Churches within the Circuit:

Barlaston Berkswich Bishops Offley Eccleshall Gnosall Milwich (Anglican/Methodist) Rising Brook Rowley Street (closed 31.08.2019) St Johns, Stone (Methodist/URC) Trinity, Stafford (Methodist/URC) Weston Woodseaves (closed 31.12.2018)

Page 19

STAFFORD METHODIST CIRCUIT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations and transfers
Gift aid
Other trading activities
Other income
Investment income
Deposit account interest
Charitable activities
Assessment on churches
Lettings-non-investment property
Office space
Total incoming resources
EXPENDITURE
Charitable activities
Stipends and allowances
Social security
Pensions
Telephone
Insurance, Council tax etc
Repairs and maintenance
Sundries
Travelling expenses
Youth/Children's work
Training
Office expenses
URC mission and ministry
District assessment
Grants to churches
Support costs
Governance costs
Accountancy and legal fees
Total resources expended
Net (expenditure)/income		 2022
£
-
-
-
3,158
990
213,628
2,155
1,776
217,559
221,707
130,099
8,807
2,099
3,879
20,013
33,609
3,335
5,697
336
237
5,367
9,876
43,047
-
266,401
2,400
268,801
(47,094)		 2021
£
366,347
6,246
372,593
6,937
698
224,627
9,240
1,776
235,643
615,871
151,546
10,675
3,593
3,619
15,563
12,449
4,914
2,457
155
288
4,668
8,621
44,007
44,352
306,907
2,400
309,307
306,564

This page does not form part of the statutory financial statements

Page 20