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2021-08-31-accounts

Annual Report and Financial Statements for the Year Ended 31 August 2021

The Hants-Surrey Border Methodist Circuit

Charity registration number: 1137593

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Contents

Reference and Administrative Details 1 to 2
Trustees' Report 3 to 7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the Financial Statements 11 to 23

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Reference and Administrative Details

Charity Registration 1137593 Number

Principal Office C/o 84 Peabody Road Farnborough Hampshire GU14 6DY Independent Examiner Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF Bankers HSBC Bank Plc. Lansdowne House 74 High Street Alton Hants GU34 1EZ 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 1

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Reference and Administrative Details

Trustees

Ashby, Aileen Kember, David Blake, Chris (to 15/06/21) Kingston, Paul Brewerton, Lindsey(to 15/06/21) Lambert, Neil Bridson, Rolfe Lander, Carol Buckett, Melvyn Lawson, Gisela Bunch, Gill (from 04/03/21) Maw, Jackie (to 16/12/20) Burgess, Kym Micklefield, Andrew Butler, Patrick Moll, David Chuter, Anne (to 15/06/21) Moore, Ian Clark, Julie Moore, Jayne Compton, Denis Morrice, Michael (from 04/03/21) Cooper, Liz Nicholls, Judith (from (15/06/21) Costello, Alan Noakes, Alison Curley, Nina O’Sullivan, Kathy Curtis, Steve Oborski, Nick (from 17/09/20) Dewey, Steve Oborski, Thomas (from 04/03/21) Fitch, Linda (to 15/06/21) Pook, Ann Gaines, Carole Press, Sally Gawthrop, Colin Richards, Heather Gawthrop, Frances Sanderson, Alex George, Liz Sargeant, Ian Gray, Neil Sexton, Brian Greig, Rita Simpkins, Philip Griffin, Beale Simpson, Muriel Hayes, Betty Smith, Richard Hoff, Gina Smith, Sue Hopkins, Michael Ter Kuile, Gillian Hunter, Christopher Titterington, Graham Jiagge, Robert Wheeler, John Johnston, Colin Wisbey, Peter Jones, Liz

Page 2

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Trustees' Report

The Trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2021.

Structure, governance and management

Nature of governing document

The charity was established by a Deed of Union (1932) and Methodist Church Act (1976) Adopted 26th August 2010.

Recruitment and appointment of trustees

Trustees selection method:

Additional governance issues

The Hants-Surrey Border Circuit was formed on 1 September 2012 by part of the Aldershot, Farnborough & Camberley Circuit joining with the Farnham & Alton Circuit, which was then re-named to Hants-Surrey Border Circuit. The Farnham & Alton Circuit was registered as an individual charity on 26th August 2010, with Charity No. 1137593. The new circuit continues to use this number but with a change of name.

The Circuit comprises eleven churches: Aldershot, Alton, Cove, The Spire (Farnham), Fleet, Frimley Green, Hale, Hartley Wintney, North Camp, Rowledge and Elvetham Heath (LEP), as well as the Ash Vale Chapel. Work continued through the year to further develop the Circuit in order to help it effectively fulfil its purpose as mentioned below under objectives and activities.

The Circuit Assessment is reviewed annually to cover the cost of meeting the objectives and activities listed below, and is shared between each of the churches on an equitable basis. Under Standing Orders the Circuit must meet its financial obligations in relation to the support of its Ministers, six manses and Connexional requirements. The Circuit therefore needs to generate a reasonable surplus to meet these obligations and ensure that the ‘reserves policies’ relating to its various funds are maintained.

The Ash Vale Chapel continues as a “Fresh Expression” of church. This is regarded as a Circuit ‘project’, with a local management group being appointed by the Circuit Meeting to assume responsibility for routine maintenance of the property and day-to-day oversight of its activities. Within this framework, the Circuit continues to assume responsibility for the Ash Vale Chapel building, with expenditure on this being met from Assessment. In addition, the Circuit has sponsored the development of a Live Room and Recording Studio in part of the building, intended as a centre for the development of Christian music.

The Circuit ran a Pioneer Project at the Wellesley Development in Aldershot. The Project was a shared partnership with the Guildford Anglican Diocese with each party initially bearing 50% of the cost and the Project contributing an increasing proportion. A decision was made to close the Project from the end of 2020. The jointly owned Manse is in the process of being sold and the proceeds will be shared 50/50 with the Diocese.

Page 3

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Trustees' Report

Objectives and activities

Objects

The purposes of the Methodist Church are and shall be deemed to have been since the date of union the advancement of -

• the Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church;

• any charitable purpose for the time being of any Connexional, district, circuit, local or other organisation of the Methodist Church;

• any charitable purpose for the time being of any society or institution subsidiary or ancillary to the Methodist Church;

• any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church.

Summary of the objects of the charity as set out in its governing document

The Circuit’s Mission Policy is set out in a separate document. Essentially, it provides for:

Public benefit

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Summary of the main activities undertaken for the public benefit in relation to these objects

The Circuit is the place where new initiatives and changes in the pattern of church life originate. This is where the staffing capacity and resources for ministry are organised, where fresh expressions of church or new pioneer ministries are launched, and where decisions to close churches in the interest of re-shaping mission priorities are debated.

We act as an umbrella and resourcing body for the 10 local churches, 1 LEP and 2 mission outreach projects in the Circuit, so that they can effectively fulfil their mission statements to engage with all those who seek God and/or a spiritual dimension to their lives.

We organise, provide leadership of, and administer the Circuit Meeting as the governing body of the Circuit, and provide the link upwards to District and Conference. The public are welcome to attend.

We administer the stipends and expenses of ministers and salaries and expenses of lay workers in the Circuit, provide pastoral support and, where appropriate, provide their accommodation.

We promote the well-being of Circuit churches and open access to all who wish to participate in their activities, through oversight of individual church councils and their decision-making, and in consultation with their representatives in the Circuit Meeting (who are also trustees of the Circuit).

Page 4

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Trustees' Report

We prepare the quarterly Circuit preaching plan that assigns ministers and lay preachers to church services, to which all are welcome.

We encourage ecumenical work and activities with other Christian denominations and their congregations.

We periodically sponsor events within the Circuit that are open to all.

Achievements and Performance

Review of activities

Through the local churches represented in the Circuit, and the resources allocated to them, the following achievements have been made:

Continued opportunities for public worship in many of the larger towns and villages in the Circuit.

The continued ability to offer occasional services (e.g. baptisms, weddings, funerals) to both church members and others, as required.

Continued pastoral care of a wide range of age groups, both within the church membership and the wider community.

Continued participation in various community-based projects.

Continued support for the work of local charities and community groups.

The continued management and maintenance of properties required to achieve the aims and objectives of the Circuit.

A Pioneer Ministry in the new Wellesley development in Aldershot was operated in partnership with the local Anglican Diocese untill a decision was made to close as from the end of 2020.

The ecumenical arts and community project based at The Chapel in Ash Vale has been enhanced by the development of a music studio which will be used as a resource for training individuals and community groups.

The closure of church buildings during Lockdown due to the Covid-19 pandemic has brought an unexpected uncertainty to the operation of the Circuit. Many of the activities of the individual churches continued on-line and individual members continued to contribute financially to the work of the churches through various electronic channels. Churches which have previously received significant income from external rentals of their facilities have been particularly challenged by this situation. Financial reserves held at local church and Circuit level have been utilised to cover expenditure where required. The Officers of the Circuit are continuing to monitor the situation and to report to the Trustees of the Circuit at regular intervals. Grants have been, and will be, given to those churches where it is needed.

Acknowledgement of the work of volunteers

The Trustees are grateful for the considerable amount of time and resources given to the Circuit by many volunteers, without whose input the Circuit could not achieve its aims and objectives.

Page 5

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Trustees' Report

Financial Review

Income and expenditure

Overall, the net movement in funds for the year was (£75,896) (2020 - £61,153).

Reserves policy

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.

General fund expenditure during the financial year was £291,053 (2020 - £287,019).

General fund and designated general reserve was £225,071 (2020 - £268,779).

This represents around 9 months expenditure - more than the 6 months required by the Circuit’s Reserves Policy.

Other unrestricted (designated) funds are generally performing satisfactorily. Where these funds appear to be in deficit at year end, this is only a temporary situation which will be corrected once new funds are allocated from Assessments and other sources at the beginning of the next financial year.

Excluding property, the balance of the unrestricted funds stands at £430,689 (2020 - £506,585).

The end of year balance on the Circuit Model Trust Fund stands at £48,611, of which the following amounts have been earmarked: Church on The Heath £26,611

DAF Levy £1,250 Uncommitted £20,750

The Reserve Projects fund contained the net proceeds from the sale of our Frimley Green manse. The balance was fully utilised in supporting the Wellesley pioneer mission project.

The balance of the restricted trust funds held by the Circuit is £34,400 (2019 - £34,353).

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

Risk assessment

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

Page 6

THE HANTS-SURREY BORDER METHODIST CIRcurr Trustees. Report stat•m•nt of Trustees, Responsibilities ststement of Responslbilities The Trustees are responsible for preparing the Trustees, report and the flnanclal statements in accordance with the United Klngdom Accountlng Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charlties requires the Trustees to prepare financial statements for each financial year which give a true and fair vlew of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparlng these finanoal statements, the Trustees are required to: select suitat4e accounting policies and then apply them consistentty; observe the methods and prinoples in the Charities SORP; make Judgements and estimates that are reasonable and prudent: state whether applicable accounting standards have been followed, subject to any material departures disdosed and explained in the financial statements: and prepare the flnanclal statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accurocy at any time the financial txjsition of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the applicable Charlties (Accounts and Report5) Regulation5, and the provision5 of the constitution. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Annual Report was approved by the Trustees of the Charity on signed C￿ its behalf by: ? Olnd Nlck Oborski Circuit Superinderident Page 7

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Independent Examiner's Report to the Trustees of The Hants-Surrey Border Methodist Circuit

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 August 2021 which are set out on pages 9 to 23.

Respective responsibilities of Trustees and examiner

As the charity’s Trustees of The Hants-Surrey Border Methodist Circuit 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 The Hants-Surrey Border Methodist Circuit's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since The Hants-Surrey Border Methodist Circuit's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Chartered Institute of Management Accountants, which is one of the listed bodies.

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 Hants-Surrey Border Methodist Circuit 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 accounting 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.

...................................... G W Schulz ACMA

Independent Examiners Ltd 2 Broadbridge Business Centre Delling Lane Bosham West Sussex PO18 8NF

9 December 2021

Page 8

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Statement of Financial Activities for the Year Ended 31 August 2021

Note
Unrestricted
funds
£
Income and Endowments from:
Donations and legacies
2
267,400
Charitable activities
3
8,698
Other trading activities
4
29,308
Investment income
5
548
Total income
305,954
Expenditure on:
Charitable activities
6
(381,897)
Total expenditure
(381,897)
Net
(expenditure)/income
(75,943)
Other recognised
gains and losses
Gains/losses on
revaluation of fixed
assets for charity's own
use
133,750
Net movement in funds
57,807
Reconciliation of funds
Total funds brought
forward
2,762,413
Total funds carried
forward
12
2,820,220		 Restricted
funds
£
-
-
-
116
116
(69)
(69)
47
-
47
34,353
34,400		 Total
2021
£
267,400
8,698
29,308
664
306,070
(381,966)
(381,966)
(75,896)
133,750
57,854
2,796,766
2,854,620		 Total
2020
£
397,243
13,203
28,870
2,677
441,993
(380,840)
(380,840)
61,153
-
61,153
2,735,613
2,796,766

Page 9

THE HANTS-SURREY BORDER METHODIST CIRcurr Balance Sheet as at 31 August 2021 2021 2020 Fixed assets Tangible assets 2.423,931 2,290,181 Current assets Debtors Cash at bank and in hand io 8,665 497 370 38,828 470 093 506.035 508,921 Credltors: Amounts falling due within one year li Net current assets 430.689 506 585 Net assets 2,854.620 2 796,766 Funds irf the charity: Restricted income funds Restricted funds 34,400 34,353 Unrestricted income funds Unrestricted fund5 2 820 220 2 762.413 Total funds 12 2 854 620 2 796 766 The financlal stateme authorised for issue on on pa es 9 to 23 were approved by the Trustees, and Nlck Oborski Clrcult Superlntendent Page 10

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

The Hants-Surrey Border Methodist Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Grants receivable

Grants are only included in the SOFA when the charity has unconditional entitlement to the resources.

Gift aid

Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category.

Page 11

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Tangible fixed assets

Individual fixed assets costing £1,500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is calculated at a rate to write off the cost of tangible fixed assets on a reducing balance over their estimated useful lives. The rates applied per annum are as follows:

Asset class Depreciation method and rate Fixtures, fittings, equipment 25% reducing balance

No depreciation is charged to freehold property as the property is maintained to such a standard that the estimated residual value is not less than cost.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Liabilities

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Page 12

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

Fund structure

Unrestricted income funds are general funds that are available for use at the Trustees's discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 13

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

2 Income from donations and legacies

Unrestricted funds
Total
Designated
£
General
£
2021
£
Donations and legacies;
Circuit assessments
-
233,968
233,968
Gifts & donations
11,437
-
11,437
Grants received
21,995
-
21,995
33,432
233,968
267,400
3 Income from charitable activities
Unrestricted funds
Total
Designated
£
General
£
2021
£
Contractual income
3,807
4,891
8,698
4 Income from other trading activities
Unrestricted
funds
Total
Designated
£
funds
£
Property rental income
29,308
29,308
29,308
29,308
5 Investment income
Unrestricted funds
Restricted
Total
Designated
£
General
£
funds
£
2021
£
Interest receivable and
similar income;
Interest receivable on
bank deposits
241
307
116
664		 Total
2020
£
349,038
26,553
21,652
397,243
Total
2020
£
13,203
Total
2020
£
28,870
28,870
Total
2020
£
2,677

Page 14

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

6 Expenditure on charitable activities

Unrestricted funds
Note
Designated
£
General
£
Activities &
projects
7,346
-
Bank charges
-
32
Gifts & grants
3,650
10,167
Insurance
194
6,039
Mission service
-
58,325
Office costs
-
1,744
Printing,
postage &
stationery
-
1,822
Quinquennial
expenses
-
475
Refurbishment
& repairs
24,692
73
Rent & rates
1,750
11,553
Repairs &
maintenance
10,837
-
South East
District
1,245
12,007
Miscellaneous
6,473
1,083
Telephone
395
2,454
Training
-
282
Travel &
subsistence
-
2,024
Utility costs
3,794
1,712
Visiting
speakers
-
-
Water rates
335
1,763
Relocation &
removals
-
575
Legal &
professional
fees
5,867
786
Independent
examination
-
1,200
Staff costs
8
24,266
176,937
90,844
291,053		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
69
-
-
69		 Total
2021
£
7,346
32
13,817
6,233
58,325
1,744
1,822
475
24,765
13,303
10,837
13,252
7,556
2,849
282
2,024
5,506
-
2,098
575
6,722
1,200
201,203
381,966		 Total
2020
£
23,319
-
255
5,703
61,304
1,182
1,508
600
22,799
12,950
6,095
14,314
3,169
3,441
330
4,989
4,625
325
1,703
3,996
2,876
1,680
203,677
380,840

Page 15

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

7 Trustees remuneration and expenses

8 Trustees received remuneration and benefits amounting to £176,507 (2020 - 7 Trustees £167,499). No trustees were paid for acting as a trustee.

6 Trustees received reimbursement of expenses amounting to £6,243 (2020 - 7 Trustees £6,937). All relate to reimbursement of expenses incurred on behalf of the Circuit.

8 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2021
£
161,936
10,775
28,492
201,203		 2020
£
165,268
10,444
27,965
203,677

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows:

2021 2020
No No
Staff 5 5

Page 16

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

9 Tangible fixed assets

Cost
At 1 September 2020
Revaluations
At 31 August 2021
Depreciation
At 31 August 2021
Net book value
At 31 August 2021
At 31 August 2020		 Land and
buildings
£
2,290,181
133,750
2,423,931
-
2,423,931

2,290,181
 Total
£
2,290,181
133,750
2,423,931
-
2,423,931
2,290,181

The property was previously included in the financial statements at building insurance value. On the 1st September 2015 (being the date of transition to FRS102), the Trustees opted to state the property at deemed historical cost representing each property's gross carrying value as at 1st September 2015 being that property's insurance reinstatement value, as notified by Methodist Insurance Plc at the renewal date. The value of the land element of the property is deemed to be one third of the total carrying value. If acquired after 1st September 2015, the cost of acquisition is taken. No depreciation is provided because the Trustees consider the current residual fair value of the properties in their present condition is not less than its deemed cost and in the absence of any evidence of impairment, any depreciation provision for the buildings component of the properties would be considered immaterial.

10 Debtors

10 Debtors
Accrued income
11 Creditors: amounts falling due within one year
Accruals
Deferred income		 2021
£
8,665
2021
£
1,978
73,368
75,346		 2020
£
38,828
2020
£
2,336
-
2,336

Page 17

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

12 Funds

12 Funds
Balance at
1 Other Balance at
September Incoming Resources recognised 31 August
2020 resources expended Transfers gains/(losses) 2021
£ £ £ £ £ £
Unrestricted funds
General
General funds 225,339 239,166 (291,053) 8,770 - 182,222
Designated
General Reserve 43,440 49 (640) - - 42,849
Manse Property Res. Value 1,539,699 - - - 133,750 1,673,449
Manse Property Repair Res. 21,074 137 (27,408) 35,000 - 28,803
Church Property Res. 750,482 - - - - 750,482
Benevolent Fund 35 30 - - - 65
The Chapel 17,183 5,837 (9,648) - - 13,372
The Wellspring 2,068 5,278 (7,346) - - -
Broomleaf - 28,860 (9,673) (19,187) - -
North Camp Lay Worker Fund 12,063 11,995 (12,862) - - 11,196
AUE Community Worker 17,300 10,000 (11,667) (15,633) - -
AUE Shared Manse 4,885 3,807 (6,577) - - 2,115
Mission Support 65,235 - (3,000) 4,821 - 67,056

Page 18

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

Special Gifts
Circuit Model Trust Fund
Reserve Projects Acc.
Total unrestricted funds
Restricted funds
Alma Adley Legacy
Total funds		 Balance at
1
September
2020
£
-
49,792
13,818
2,537,074
2,762,413
34,353
2,796,766		 Incoming
resources
£
610
164
21
66,788
305,954
116
306,070		 Resources
expended
£
(650)
(1,345)
(28)
(90,844)
(381,897)
(69)
(381,966)		 Transfers
£
Other
recognised
gains/(losses)
£
40
-
-
-
(13,811)
-
(8,770)
133,750
-
133,750
-
-
-
133,750		 Balance at
31 August
2021
£
-
48,611
-
2,637,998
2,820,220
34,400
2,854,620

Page 19

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

The Designated funds are represented by the Charity's cash reserves and fixed assets investments and are to be expended as detailed above:

• General reserves comprise: the accumulated and set aside general funds as a specific reserve.

• Manse property reserves comprise two parts being: The asset value of the manses and the funds set aside to refurbish & maintain them.

• Broomleaf Fund - funds received and paid in connection with the letting of the Broomleaf Road manse. End of year balances are transferred to the Mission Support Fund, which is available for use by local churches to support specific outreach projects.

• AUE Manse Fund - funds received and paid in connection with the purchase and operation of a new manse on the Aldershot Urban Extension, which are to be shared with other denominations through a formal sharing agreement.

• AUE Community Worker Fund - funds received and paid in connection with the employment of a community worker for the AUE project, again shared with other denominations through a formal sharing agreement.

• The CMTF (Circuit Model Trust Fund) fund derives from sales of chapels and manses and its use is restricted by Conference. The restriction is an internal regulation, although the fund can be used for a variety of purposes. Some money held in the MTF has been earmarked by the trustees for anticipated property costs & mission projects, in the next 2 to 3 years.

• The Reserves Projects fund holds the proceeds of the sale of the former Queensway manse pending its use in the purchase of the AUE manse, with any residual balances being reserved for use in meeting operational expenses of the Wellesley project.

The Restricted funds are represented by the Charity's cash reserves and are to be expended as specified above:

• Alma Adley fund derives from a legacy received by Aldershot Farnborough & Camberley Methodist Circuit and part was transferred to the Hants-Surrey Border Circuit and associated interest applied.

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THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

Balance at
1 Balance at
September Incoming Resources 31 August
2019 resources expended Transfers 2020
£ £ £ £ £
Unrestricted funds
General
General Funds 169,518 358,947 (287,019) (16,107) 225,339
Designated
General Reserve 43,269 236 (65) - 43,440
Manse Property Res. Value 1,539,699 - - - 1,539,699
Manse Property Repair Res. 12,198 32 (26,156) 35,000 21,074
Church Property Res. 750,482 - - - 750,482
Benevolent Fund 205 30 (200) - 35
The Chapel 15,890 9,018 (7,725) - 17,183
The Wellspring 7,515 17,872 (23,319) - 2,068
Broomleaf 18,184 28,840 (5,283) (41,741) -
North Camp Lay Worker Fund 9,660 13,781 (11,378) - 12,063
AUE Community Worker 14,060 10,000 (13,652) 6,892 17,300
AUE Local 6,892 - - (6,892) -
AUE Shared Manse 6,953 2,376 (4,444) - 4,885
Mission Support 23,494 - - 41,741 65,235
Special Gifts - - (107) 107 -

Page 21

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

Balance at

Circuit Model Trust Fund
Reserve Projects Acc.
Total unrestricted funds
Restricted
Alma Adley Legacy
Total funds		 1
September
2019
£
50,735
32,732
2,531,968
2,701,486
34,127
2,735,613		 Incoming
resources
£
427
140
82,752
441,699
294
441,993		 Resources
expended
£
(1,370)
(54)
(93,753)
(380,772)
(68)
(380,840)		 Transfers
£
-
(19,000)
16,107
-
-
-		 Balance at
31 August
2020
£
49,792
13,818
2,537,074
2,762,413
34,353
2,796,766

Page 22

THE HANTS-SURREY BORDER METHODIST CIRCUIT

Notes to the Financial Statements for the Year Ended 31 August 2021

13 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
-
2,423,931
257,568
214,067
(75,346)
-
182,222
2,637,998		 Restricted
funds
£
-
34,400
-
34,400		 Total funds
at 31
August
2021
£
2,423,931
506,035
(75,346)
2,854,620
Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
-
2,290,181
227,675
246,893
(2,336)
-
225,339
2,537,074		 Restricted
funds
£
-
34,353
-
34,353		 Total funds
at 31
August
2020
£
2,290,181
508,921
(2,336)
2,796,766

Page 23