## # # ## ## |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
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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| ||tO|||||||||||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |VI
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