THE METHODIST CHURCH – HIGH WYCOMBE CIRCUIT
CHARITY COMMISSION TRUSTEES ANNUAL REPORT 2021
Section B – Structure, Governance and Management
The Circuit is one of 21 Circuits in the Northampton District. The Circuit is ultimately accountable to the Methodist Conference.
Risk management is considered as part of its overall duties by the Circuit Leadership Team which takes appropriate professional advice whenever it feels that this is necessary.
The Circuit has for many years adopted a safeguarding policy in respect of children and has encouraged and indeed ensured that all Churches within the Circuit have also adopted a suitable policy. In 2012 it adopted and has since annually updated a revised policy covering both Children and Vulnerable Adults. Suitable training is arranged to support those holding office.
Section C – Objectives and Activities
The objects are set out in The Methodist Church Act 1976 (Clause 4), a synopsis of which is “advancement of religion and any charitable purpose of the Methodist Church or Church organisation (see Methodist Church Act 1976).”
The Circuit provides advice, support and resources to the 9 Churches that form the Circuit and through them undertakes a range of religious activities for the benefit of the general public/mankind.
Methodist Circuits are not defined as external grant making bodies. Surplus funds, both short term and longer term are invested with the Trustees for Methodist Church Purposes as required by Standing Orders.
The majority of the work of the Circuit, other than that undertaken by ordained ministers and paid lay workers, is undertaken by voluntary lay people.
Section D – Achievements and Performance
The Circuit has continued to support a wide range of activities undertaken by the Churches within the Circuit. In 2020-21 this has involved substantial investment in digital resources to assist churches in coping with the effects of the Covid pandemic and enable them to provide and share in online worship. In addition a one-off rebate of the quarterly assessment was implemented to shield churches from the fall in income resulting from the lockdowns.
The Circuit continues to look for areas of proven growth and where there is potential for development. This has continued the support of lay workers in two churches and the funding of the Superintendent’s PA.
The Circuit has continued its commitment to fund a diaconal appointment up to at least September 2023. The appointee is developing outreach work both by encouraging and training lay people, and by working alongside ecumenical partners. In addition he is actively involved in supporting the work of local Work Place Chaplains.
Section E – Financial Review
The Circuit aims to maintain in a general fund at least three months routine expenditure to cover timing delays in receipt of funds. There are a number of other funds which support defined activities.
The other main fund is the Circuit Model Trust Money (formerly known as the Circuit Advance Fund) which is derived from the sale of redundant properties within the Circuit and its use is governed by the purposes defined in Standing Orders.
The Circuit raises funds through the Circuit assessment which is contributions from all the Churches within the Circuit to meet the agreed budget for the year.
The majority of the Circuit’s expenditure is related to the employment of staff and their associated accommodation etc. expenses plus a contribution to the costs of both the District and the Connexion collected through the District Assessment.
Section F – Future Development
The Circuit continues to seek an effective strategy for its future development and direction. In 20202021 the Circuit engaged in a review of activities under the banner of the Connexional God for All initiative, and by the end of the year all churches had reviewed their plans for the next twelve months. The work identified through these exercises will continue to be developed as a priority and appropriate financial plans developed to enable them to be taken forward over the coming years both by the churches and the Circuit Leadership Team.
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Name of Circuit
Circuit No 23/27
HIGH WYCOMBE
Statement of Financial Activities (SOFA) for the year ended 31 August 2021
| Notes to the accounts Income 1 Donations and legacies 2 Income from monetary investments 3 Income from investment properties 4 Assessments on Churches 5 Capital Receipts 6 Grants received 7 Other charitable income 8Total income Expenditure 9 Grants and donations 10 Salaries and associated costs 11 Property maintenance 12 Connexional assessment & model trust levy 13 District Assessment & Levy 14 Depreciation 15 Office expenses 16 Other outgoings 17Total charitable expenditure 18 Gains/(losses) on monetary investments 19 Gains/(losses) on investment properties 20Net income/(expenditure) 21 Transfers between funds 22 Other gains/(losses) 23Net movement in funds 24 Total funds brought forward 25 Total funds carried forward |
General Fund (Unrestricted) Circuit Model Trust (Unrestricted) Designated Funds (unrestricted) Restricted Funds Endowment Funds Total 2020-21 £ £ £ £ £ £ 0 247 92 10 349 0 189,220 189,220 147,827 147,827 45,450 45,450 39,954 445 40,399 274,872 147,918 445 - 10 423,244 |
|---|---|
| 68,705 30,000 98,705 154,177 154,177 33,413 33,413 0 53,540 22,329 75,869 0 1,581 1,581 7,123 55 - 445 10 7,523 318,539 52,275 445 0 10 371,268 |
|
| 0 -43,667 95,644 0 0 0 51,977 0 -43,667 95,644 0 0 0 51,977 |
|
| 67,556 441,650 50,000 2,829 562,035 23,889 537,294 50,000 - 2,829 614,012 |
Name of Circuit
Circuit No 23/27
HIGH WYCOMBE CIRCUIT
Balance Sheet as at 31 August 2021
GN
| Fixed Assets | Notes to the Accounts |
General Fund (Unrestricted) £ |
Circuit Model Trusts (Unrestricted) £ |
Designated Funds (Unrestricted) £ |
Restricted Funds £ |
Endowment Funds £ |
Totals 2020/21 £ |
Totals 2020/21 £ |
Totals 2020/21 £ |
|---|---|---|---|---|---|---|---|---|---|
| Circuit Manses & Equipment | 3,359,625 | 3,359,625 | |||||||
| Investmentproperties | 0 | ||||||||
| Investments | 0 | ||||||||
| Total fixed assets | 3,359,625 | 0 | 0 | 0 | 0 | 3,359,625 | |||
| Current Assets | |||||||||
| Debtors | 0 | ||||||||
| Loans bythe Circuit | 0 | ||||||||
| Investments with TMCP | 426,358 | 2,830 | 429,188 | ||||||
| Central Finance Board Deposits | 28,212 | 50,000 | 78,212 | ||||||
| Cash at Bank and in hand | 80,619 | 80,619 | |||||||
| Total current assets | 108,831 | 426,358 | 50,000 | 0 | 2,830 | 588,019 | |||
| Current liabilities | |||||||||
| Creditors (due in under 1 year) | 0 | 0 | |||||||
| Grantspayable within 2018-19 | 0 | 0 | |||||||
| Total current liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Net current assets/liabilities | 108,831 | 426,358 | 50,000 | 0 | 2,830 | 588,019 | 651,006 | ||
| Total assets less current liabilities | 3,468,456 | 426,358 | 50,000 | 0 | 2,830 | 3,947,645 | 3,677,696 | ||
| 0 0 0 3,468,456 426,358 50,000 0 2,830 3,947,645 3,468,456 3,468,456 426,358 426,358 50,000 50,000 3,944,815 0 0 2,830 2,830 3,468,456 426,358 50,000 0 0 3,947,645 |
|||||||||
| Long term liabilities (due after more than one year) |
|||||||||
| Grantspayable after 2018-19 | 0 | ||||||||
| Loans to the Circuit | 0 | ||||||||
| 0 | |||||||||
| Net assets | 3,468,456 | 426,358 | 50,000 | 0 | 2,830 | 3,947,645 | |||
| Funds of the Circuit | |||||||||
| General Fund(Unrestricted) | 3,468,456 | 426,358 50,000 0 2,830 |
3,468,456 | 3,183,216 | |||||
| Circuit Model Trust Fund (Unrestricted) | 426,358 | 426,358 | 441,650 | ||||||
| Designated Funds(Unrestricted) | 50,000 | 50,000 | 50,000 | ||||||
| Total Unrestricted Funds | 3,944,815 | 3,674,867 | |||||||
| Restricted Funds | 0 | 0 | 0 | ||||||
| Endowment Funds | 2,830 | 2,830 | 2,829 | ||||||
| Total Funds | 3,468,456 | 426,358 | 50,000 | 0 | 0 | 3,947,645 | 3,677,696 |
Signed Circuit Treasurer
The Methodist Church - High Wycombe Circuit
Statement of Financial Activities
for the Year ended 31st August 2021
| Unrestricted | Restricted | Total | Total Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | ||
| Notes | £ | £ | £ | £ | |
| INCOMING RESOURCES | |||||
| Circuit Assessments | 189,220 | 189,220 | 186,651 | ||
| Manse Rental Income | 7 | 37,140 | 37,140 | 37,140 | |
| Grants Received | 2 | 45,450 | 45,450 | 50,666 | |
| Bank and Trust Interest | 247 | 247 | 950 | ||
| Special Collections | 445 | 445 | 8,470 | ||
| Sundry Income | 2,814 | 2,814 | 1,246 | ||
| Total incoming resources | 274,872 | 445 | 275,317 | 285,123 | |
| RESOURCES EXPENDED | |||||
| Stipends, National Insurance & Pensions | 142,668 | 142,668 | 139,447 | ||
| Lay Workers & Supernumerary | 6 | 5,700 | 5,700 | 5,220 | |
| District Assessment | 53,540 | 53,540 | 51,863 | ||
| Manse repairs and maintenance | 9 | 33,413 | 33,413 | 69,838 | |
| Travel | 2,267 | 2,267 | 2,047 | ||
| Administration | 1,581 | 1,581 | 1,630 | ||
| Quiquennial inspections | 5,712 | 5,712 | 0 | ||
| Telephones and internet | 3,543 | 3,543 | 3,079 | ||
| Training | 0 | 0 | 893 | ||
| Pulpit supply and plans | 0 | 0 | 251 | ||
| Grants and Donations | 8 | 68,705 | 68,705 | 13,228 | |
| Collection paid over | 445 | 445 | 8,470 | ||
| Removal costs | 0 | 0 | 0 | ||
| Other expenditure | 1,411 | 1,411 | 8,992 | ||
| Depreciation | 0 | 0 | 0 | ||
| Total resources expended | 318,539 | 445 | 318,983 | 304,958 | |
| NET INCOMING RESOURCES | (43,667) | 0.00 | (43,667) | (19,834) | |
| INCREASE / (DECREASE) IN VALUE OF | FUNDS | ||||
| Manse revaluation | 5 | 332,936 | 332,936 | 107,992 | |
| Model Trust Fund | 3 | (15,329) | (15,329) | 238,042 | |
| Other Trust Funds | 4 | 38 | 38 | 179 | |
| NET MOVEMENT IN FUNDS | 273,977 | 0 | 273,977 | 326,378 | |
| FUNDS BROUGHT FORWARD | 3,608,539 | 0 | 3,608,539 | 3,282,161 | |
| FUNDS CARRIED FORWARD | 3,882,516 | 0 | 3,882,516 | 3,608,539 |
The Methodist Church - High Wycombe Circuit
Balance Sheet at 31st August 2021
| Notes | 2021 | 2020 | |||
|---|---|---|---|---|---|
| £ | £ | ||||
| Tangible Fixed Assets | 3,359,625 | 3,026,690 | |||
| Current Assets: | |||||
| Trustees for Methodist Church Purposes | 429,188 | 444,480 | |||
| Central Finance Board | 78,212 | 144,619 | |||
| HSBC | 28,080 | 26,503 | |||
| CAF Bank Cash | 32,481 | 15,349 | |||
| CAF Bank Gold | 20,058 | 20,056 | |||
| Stipends paid in advance | 11,994 | 11,487 | |||
| Manse rental fees paid in advance | 0 | 0 | |||
| Sundry debtors | 0 | 0 | |||
| Manse Refurbishments paid in advance | 0 | 0 | |||
| 3,959,638 | 3,689,183 | ||||
| Less Current Liabilities: | |||||
| Circuit assessments prepaid | 46,936 | 48,153 | |||
| Manse Rental Income | 0 | 0 | |||
| Manse repair and maintenance reserve | 9 | 50,000 | 50,000 | ||
| Accrued manse maintenance expenses | 0 | 0 | |||
| Accrued General Expenses | 0 | 0 | |||
| Accrued Quinquennial costs | 0 | 0 | |||
| Accrued special collection | 0 | 2,305 | |||
| Sundry liabilities | 0 | 0 | |||
| 96,936 | 100,458 | ||||
| 3,862,702 | 3,588,725 | ||||
| FINANCED BY: | |||||
| Unrestricted Funds: | |||||
| General Fund | 23,889 | 67,556 | |||
| Manse Refurbishment Fund | 50,000 | 50,000 | |||
| Manse Fund | 5 | 3,359,625 | 3,026,690 | ||
| Model Trust Fund | 3 | 399,055 | 414,384 | ||
| 3,832,569 | 3,558,629 | ||||
| Other Funds | |||||
| Trust 17252 Chilton Memorial Trust Fund | 4 | 2,830 | 2,829 | ||
| Trust 12975 (Sale of Land) Fund | 4 | 6,191 | 6,183 | ||
| Trust 20825 Alma Stevens bequest | 4 | 21,112 | 21,084 | ||
| 30,133 | 30,096 | ||||
| TOTAL FUNDS | 3,862,702 | 3,588,725 |
The Methodist Church - High Wycombe Circuit
Notes to the Accounts for the year ended 31st August 2021
1. Accounting policies
a) Basis of accounting
The Accounts have been prepared under the Historic Cost Convention except where assets have been stated at valuation. This is in accordance with applicable accounting standards and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities (the FRSSE) (effective 1 January 2015).
b) Valuation of Manses
The six manses owned by the Circuit have been valued on the basis of the market values of comparable properties situated in their respective areas, taking account of the change in house prices during the year.
c) Designation of Funds according to Charity Law
The General Fund is an unrestricted fund.
The Manse Fund is an unrestricted designated fund.
The Chilton Memorial Trust Fund is a Permanent Endowment.
The Model Trust Fund, Trust (Sale of Land) Fund, and the Alma Stevens bequest are unrestricted funds.
2. Grants Received
£30,000 was taken from the Model Trust Fund to cover the cost of employing the Deacon. A further £15,450 was taken to fund projects under the God for All digitial initiative.
3. Model Trust Fund (formerly the Circuit Advance Fund)
Movements on the Model Trust Fund during the year were as follows:
| Balance brought forward Interest received (net of TMCP charges) Net proceeds of sale of properties Less amounts drawn to support mission and outreach: Diaconal appointment Circuit - Any Other Purpose Less District Levy Balance Carried Forward |
2021 £ 414,384 49 454,191 -30,000 -434,936 -4,632 399,055 |
2020 £ 176,342 2,619 271,740 -30,000 0 -6,317 |
|---|---|---|
| 414,384 |
4. Other Trust Funds.
These comprise monies which were originally donated, collected or allocated for a specific, purpose. Movements during the year were as follows:
| a) Chilton Memorial Trust 17252 (permanent endowment) Balance brought forward Interest credited (net of TMCP charge) Interest paid to Circuit Balance carried forward b) Trust 12975 (sale of land) Balance brought forward Interest credited (net of TMCP charge) Balance carried forward |
2021 2,829 4 -3 2,830 6,183 8 6,191 |
2020 2,829 19 -19 |
|---|---|---|
| 2,829 | ||
| 6,142 41 |
||
| 6,183 |
Trust 12975 resulted from the sale of land by the former Bourne End Methodist Church. Following the closure of the Church, the Trust was transferred to the Circuit and the capital is available to the circuit as laid down in standing orders.
c) Trust 20825 Alma Stevens bequest
| Balance brought forward/Capital Transferred Interest credited (net of TMCP charge) Interest paid to Circuit |
21,084 29 0 21,112 |
20,945 138 0 |
|---|---|---|
| 21,084 |
Trust 20825 was a bequest to Naphill Methodist Church. Following the closure of the church in July 2018 the Trust was transferred to the Circuit and is now available to the Circuit as laid down in standing orders.
| 5.Tangjble Fixed Assets - Manses | 2021 | 2020 |
|---|---|---|
| Balance brought forward | 3,026,689 | 2,918,698 |
| Increase/Decreaseinvaluation | 332,936 | 107,992 |
| Balance carried forward | 3,359,625 | 3,026,689 |