| Ministers | Rev S.Santry |
|---|---|
| At any time during | Rev J Albrow |
| the year. | Rev P A Ceilings |
| Rev W.Grewcock | |
| Rev BJ Hadfield | |
| Rev B.Haslam | |
| Deacon R.Lovatt | |
| Rev A Richardson | |
| Rev SHan (AM) |
| RISK | RISK | MITIGATED BY | ||
|---|---|---|---|---|
| Misappropriation | offunds | Strict observance ofStanding Order 012(1)which states that:- | ||
| "Methodist money shall not be heldin private accounts butin | ||||
| official bank accounts requiring the signatures of, orelectronic |
||||
| authorisation by, two persons for withdrawals" |
||||
| Investment | Risks | The vast majority ofCircuit funds are held as balances with | ||
| Lloyds Bank, in the CFBDeposit Fund and the Trustees Interest | ||||
| Fund at TMCP. The Ware Hawking Trust Fund is invested on |
||||
| our behalf by TMCP in a range ofinvestment trusts etc. |
||||
| Viability | ofChurches | The viability ofchurches in the Circuit is monitored through |
||
| the Standard Forms ofAccounts, Trustees Annual Reports and |
||||
| Reserves Policy declarations submitted annually. The Mission |
||||
| Ik Ministry Group also maintain an oversight ofchurches |
||||
| general health through continual discourse. |
||||
| The Circuit is aware that, the current level ofstaffing is |
||||
| unaffordable in the longer term and will be the subject of |
||||
| ongoing review at Circuit Meetings. | ||||
| Property | Risk | A planned programme ofprofessional quinquennial |
||
| inspections is carried out at the request ofand under the |
||||
| supervision ofthe Property Group (for churches) and the |
| Exeter Coast d(s C | Exeter Coast d(s C | Exeter Coast d(s C | Exeter Coast d(s C | Exeter Coast d(s C | ountry C | ircuit | Page 2 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Statement | ofFinancial | Activities (SOFA) - | for the | ear | ended | 31 | An | st2021 | ||||||||
| Cl | D | D Cl V |
N'oo VD |
o Cl |
||||||||||||
| o N Cl o Z |
o o V |
N Cl oa Do |
IV Cl |
Cle | Cl N Cl IL' |
E o 'oe Iu |
'o IC |
Total 2020 21 | Total 201920 | |||||||
| Income and Endowments | from: | |||||||||||||||
| Donations and legacies |
10,000 | 10,000 | ||||||||||||||
| Charitable activities |
||||||||||||||||
| Assessments or share |
436,432 | 436,432 | 438,227 | |||||||||||||
| Other (inc Property Disposal proceeds) |
11,188 | 11,188 | 131,686 | |||||||||||||
| Other trading activities | ||||||||||||||||
| —Lettings | 30,400 | 30,400 | 22,438 | |||||||||||||
| —Miscellaneous | 1,629 | 1,629 | ||||||||||||||
| Investments | 2,853 | 1,357 | 4,210 | 7,418 | ||||||||||||
| Other - inc grants received | 22,865 | 22,865 | 23,000 | |||||||||||||
| Total | 494,179 | 12,545 | 10,000 | 516,724 | 622,768 | |||||||||||
| Expenditure on: |
||||||||||||||||
| e ng expenses |
||||||||||||||||
| ar a e act utes |
||||||||||||||||
| Stipends, salaries, NICa Pension |
costs | 10 | 283,022 | 283,022 | 265,254 | |||||||||||
| District Assessment | 106,246 | 106,246 | 110,695 | |||||||||||||
| Connexional Property Fund |
Levy | 38,192 | ||||||||||||||
| Telephone &travel |
14,981 | 14,981 | 17,760 | |||||||||||||
| Insurance, utilities, etc |
28,451 | 28,451 | 26,623 | |||||||||||||
| Maintenance on manses |
30,332 | 30,332 | 34,978 | |||||||||||||
| Expenditure on other Circuit |
property | 1,686 | ||||||||||||||
| Other Expenditure | 14,438 | 979 | 15,417 | 10,215 | ||||||||||||
| Grants and Donations |
67,155 | 67,155 | 41,914 | |||||||||||||
| Contributions to District Advance |
Fund | 22,072 | 22,072 | 13,671 | ||||||||||||
| Total | 552,553 | 23,051 | 575,604 | 560,990 | ||||||||||||
| Net income/(expenditure) | ( | 58,374) | ( 10,506) | 10,000 | ( 58,880) | 61,779 | ||||||||||
| Transfers between funds |
( 157) | 157 | ||||||||||||||
| Tranfers re designated grants |
||||||||||||||||
| ( 58,531) | ( 10,349) | 10,000 | (58,880) | 61,779 | ||||||||||||
| Other recognised gains / (losses) I |
||||||||||||||||
| Gains/(Losses) on revaluation |
of | fixed assets | 440,000 | 440,000 | 384,768 | |||||||||||
| Gains/(Losses) on investment |
assets | 17,148 | ( 161) | 16,987 | 1,408 | |||||||||||
| Closing balance paid to Anglican |
Church | |||||||||||||||
| Net movement in funds |
398,617 | (10,510) | 10,000 | 398,107 | 447,955 | |||||||||||
| Correction to funds brought | forward | 3,679 | 3,679 | 220 | ||||||||||||
| Total funds brought forward | 2,631,558 | 412,078 | 3,043,636 | 2,595,461 | ||||||||||||
| Total funds carried forward | 3,033,854 | 401,568 | 10,000 | 3,445,422 | 3,043,636 |
| All | Funds | Funds | Funds | Funds | Unrestricted | Circuit Model Trust Fund |
Restricted | Endowment FUItds |
Totals this year |
Totals last year |
||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Unrestricted) | ||||||||||||
| E | ||||||||||||
| Tangible Fixed Assets* | ||||||||||||
| Notes | ||||||||||||
| Land &Buildings | 12 | 2,582,901 | 2,582,901 | 2,142,901 | ||||||||
| Equipment | 12 | |||||||||||
| Total | fixed assets | 2,582,901 | 2,582,901 | 2,142,901 | ||||||||
| Current Assets | ||||||||||||
| Debtors and | Prepayments | 14 | 28,654 | 28,654 | 22,493 | |||||||
| Loans | 1,121 | |||||||||||
| Trustees or Methodist |
C urch | |||||||||||
| Purposes deposits | 72,255 | 401,568 | 473,823 | 487,145 | ||||||||
| Central Finance Board Deposits | 377,995 | 10,000 | 387,995 | 389,962 | ||||||||
| Cash at Bank and | in | hand | 15 | 14,930 | 14,930 | 22,428 | ||||||
| Total | current assets | 493,834 | 401,568 | 10,000 | 905,402 | 923,148 | ||||||
| o an |
ccrua | s | u | |||||||||
| under 1yr) | 16 | (14,881) | (14,881} | (15,463) | ||||||||
| Net current | assets | (liabilities) | 478,953 | 401,568 | 10,000 | 890,521 | 907,685 | |||||
| o a esse s | esscurren | |||||||||||
| liabilities | 3,061,854 | 401,568 | 10,000 | 3,473,422 | 3,050,586 | |||||||
| Loans and cre itors due after | 1 | |||||||||||
| year | 16 | (28,000) | (28,000) | (6,950} | ||||||||
| Provisions | or | ia | ilities | an | ||||||||
| charges | ||||||||||||
| Net assets | 3,033,854 | 401,568 | 10,000 | 3445 422 | 3043 636 | |||||||
| Funds ofthe | Circuit | |||||||||||
| Unrestricted | funds | 3,033,854 | 3,033,854 | 2,631,558 | ||||||||
| Circuit Model Trust | Fund | |||||||||||
| (Unrestricted) | 401,568 | 401,568 | 412,078 | |||||||||
| Restricted funds | 10,000 | 10,000 | ||||||||||
| Endowment | funds | |||||||||||
| Total Funds | 3,033,854 | 401,568 | 10,000 | 3,445,422 | 3,043,636 |
| Opening | Receipts | Payments | Net Receipts/ | Adjustments | Closing | ||
|---|---|---|---|---|---|---|---|
| Internal | Organisations | balance | Payments | balances | |||
| Total |
| 2021 | 2020 | |
|---|---|---|
| Cash flows fram operating activities |
(36,997) | (145,927) |
| Cash flows from investing activities |
||
| Interest income | 1,631 | 4,513 |
| Dividend income |
2,579 | 2,905 |
| Proceeds from the sale af property | 131,686 | |
| Total cash flows from investing activities |
4,210 | 139,104 |
| Cash flows from financing activities Total cash flows from financing activities |
E3 | |
| Change in cash and cash equivalents | ~in, 7$7i | ~i6x x |
| Cash and cash equivalents at start ofthe year |
899,535 | 906,358 |
| Cash and cash equivalents at the end ofthe year |
866,748 | 899,535 |
| Cash and cash equivalents comprise ofcash at bank and in hand plus highly |
liquid current asset investments | held. |
| Appendix s | ||
| Net movement in funds forthe year |
398,107 | 447,955 |
| Adjusted jai: | ||
| (Increase)/ Decrease in debtors |
(5,041) | 49,128 |
| Increase/ (Decrease) in creditors | 20,468 | (119,359) |
| Interest and dividend income |
(4,210) | (7,418) |
| Revaluation ofinvestment property |
(450,000) | (384,768) |
| Proceeds from the sale ofproperty | (131,686) | |
| Correction to bought forward reserves |
3,679 | 220 |
| Total cash generated from operating activities |
(36,997) | (145,927) |
| 4.Donations | 4.Donations | and legacies | and legacies | and legacies | Unrestricted | Circuit Model Trust Fund |
Restricted Endowed |
& | 2021 | 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| E | E | E | ||||||||
| Donations | 10000 | 10,000 | ||||||||
| Legacies | ||||||||||
| Total | 10,000 | 10,000 | ||||||||
| 5.Charitable other |
activities- | Unrestricted | Circuit Model Trust Fund |
Restricted Endowed |
& | 2021 | 2020 | |||
| f | E | E | E | |||||||
| Disposal ofAxminster | Church | 131,686 | ||||||||
| Charitable | activities | —Other 2 | ||||||||
| Charitable | activities | - | Other 3 | |||||||
| Total | 131,686 |
| 6.Other trading activities | 6.Other trading activities | Unrestricted | Circuit Model Trust Fund E |
Restricted Endowed f |
& | 2021 E |
2020 f |
|---|---|---|---|---|---|---|---|
| Lettings | 30,400 | 30,400 | 22,438 | ||||
| Miscellaneous | 265 | 265 | |||||
| Feed in tariff | 1364 | 1,364 | |||||
| Total | 32,029 | 32,029 | 22,438 | ||||
| 7.Investment | income | Unrestricted | Circuit Model Trust Fund f |
Restricted Endowed E |
& | 2021 E |
2020f |
| Central Finance Board | 2,853 | 2,853 | 4,695 | ||||
| Other | 1,357 | 1,357 | 2,722 | ||||
| Total | 2,853 | 1,357 | 4,210 | 7,418 |
| 8.Payment to Trustees | 8.Payment to Trustees | 8.Payment to Trustees | This year | Last year | |||||
|---|---|---|---|---|---|---|---|---|---|
| No trustee has been paid any remuneration |
during the | year other than as stated | in the related | ||||||
| party transaction note (note 20). |
|||||||||
| Number oftrustees who were paid expenses | |||||||||
| Nature ofthe expenses Expense payments primarily relate to reimbursement Total amount paid 9.Feesfor examination or audit ofthe accounts |
for travel and computing | costs | E | Q 8,172 |
17,661 | ||||
| Independent examiner's or auditors' |
fees for reporting | on the accounts | |||||||
| 1,452 | 1,302 | ||||||||
| Other fees (eg:advice, accountancy | services) | paid to | the independent examiner |
or auditor | |||||
| 10.Paid employees (excluding Ministers) |
|||||||||
| Staff Costs paid during the year were: | |||||||||
| Gross wages, salaries and benefits in kind |
|||||||||
| 26,121 | 22,228 | ||||||||
| Employer's National Insurance costs |
|||||||||
| 606 | 564 | ||||||||
| Pension costs | |||||||||
| Total staff costs | |||||||||
| 26,727 | 22,782 | ||||||||
| Average number ofstaff employeed | during | the year | |||||||
| were: | |||||||||
| No employee received employee benefits of |
more than | E60,000 during the year. | |||||||
| 11.Support costs | |||||||||
| Included within unrestricted other expenses |
are the following support costs: | ||||||||
| Governance costs (accountancy and |
examination) | 1650 | |||||||
| Governance costs (circuit treasurer) |
3900 | ||||||||
| 12.Grants payable | |||||||||
| Grants paid during the year can be broken down as follows: | |||||||||
| 2021 | 2020 | ||||||||
| Grants Id In the carte institutions |
|||||||||
| Crediton Church |
15,000 | ||||||||
| Sidmouth Church |
10,000 | ||||||||
| Aggregate of non material grants paid |
in the | year | 16,600 | 26,400 | |||||
| Grants aidin the carte individuals |
|||||||||
| Aggregate ofgrants paid in the year | to individuals | 13,405 | 9,764 | ||||||
| Grants committed and accrued for in the year |
34,100 | 4,800 | |||||||
| Release ofaccrued grants | -6,950 | -14,050 | |||||||
| Total grants payable per accounts | 67,155 | 41,914 |
| D | ebtor | s Cred |
itors | and Bank B | alances as | at 31 Au u | st 2021 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| General | and | Circuit Model | Other Funds | Endowment | Totals this | Totals last | ||||
| Designated | Trust Fund | (Restricted) | Funds | year | year | |||||
| Funds | (Unrestricted) | |||||||||
| (Unrestricted) | ||||||||||
| 6 | ||||||||||
| 14.Debtors and Pre a | nts | |||||||||
| Assessments in arrears |
125 | |||||||||
| Deposits held | 253 | 253 | ||||||||
| Insurance prepayment |
||||||||||
| Stipends paid in advance |
21,836 | 21,836 | 22,176 | |||||||
| Grants /Loans | 865 | 865 | 1,121 | |||||||
| Other prepayments | 5,700 | 5,700 | 192 | |||||||
| Total debtors 8prepayments | 28,654 | 28,654 | 23,614 | |||||||
| 15.Bank balances | ||||||||||
| CFB - Stewards Reserve | Account | 240,564 | 240.564 | 238,287 | ||||||
| TMCP - FCWC | 2,821 | 2,821 | 2,820 | |||||||
| TMCP —Circuit Model Trust | Fund | 401,568 | 401,568 | 410,957 | ||||||
| CFB - Development Fund |
130,669 | 10,000 | 140,669 | 138,230 | ||||||
| Manse Maintenance Fund |
1,568 | 1,568 | 8,493 | |||||||
| CFB - Mission Fund | ||||||||||
| TMCP —Cheriton Cross | House | 2,000 | 2,000 | 2,000 | ||||||
| TMCP —Lovell | 5440 | 5,440 | 5,439 | |||||||
| CFB - Ware Hawkinq | 6,762 | 6,762 | 13,445 | |||||||
| TMCP - Ware Hawking | 61,994 | 61,994 | 65,928 | |||||||
| Lloyds Cunent Account/Cash | 13.270 | 13,270 | 13,699 | |||||||
| Cash in Hand |
92 | 92 | 236 | |||||||
| Total bank balances | 465,180 | 401,568 | 10,000 | 876,748 | 899,535 | |||||
| 16.Creditors and Accruals | ||||||||||
| Assessments received |
in | advance | ||||||||
| Examination fee |
1,500 | 1,500 | 1,302 | |||||||
| Preaching fees | 437 | 437 | 122 | |||||||
| Telephone 8 travel |
525 | 525 | ||||||||
| Letting Income | ||||||||||
| Payroll liabilities etc |
248 | 248 | ||||||||
| Manse Maintenance Accrual |
468 | |||||||||
| Other items (inc EuKids | Charity) | 171 | 171 | 171 | ||||||
| Council Tax | ||||||||||
| Grants creditors | ||||||||||
| Cranbrook | 3,750 | |||||||||
| Deacon | ||||||||||
| University Chaplaincy |
||||||||||
| Grants committed within |
1 year | 12,000 | 12,000 | 9,650 | ||||||
| Grants committed atter |
1 | year | 28,000 | 28,000 | 6.950 | |||||
| Total creditors 8accruals | 42,881 | 42,881 | 22,414 |
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