2023-08-31-accounts - Launceston Area Methodist Circuit

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		Page
Trustees' report		3-5
Independent Examiners'	Report
Statement ofFinancial	Activities
Balance Sheet
Notes to the Financial Statements		9-12

FULL CHARITY NAME	Lsunceston Area Methodist Circuit	Lsunceston Area Methodist Circuit	Lsunceston Area Methodist Circuit	Lsunceston Area Methodist Circuit
WORKING NAME
GHARRY NUMBER	1138314
GOVERNING INSTRUMENT	Deed of Unam (1832)and Methodist					Church		Act (1978)
LEGAL STATUS	Unincorporated chanty
PRINCIPAL OFFICE	Circuit Dffks
	Dingley Hell
	Castle Street
	Launcsston
	Comwag
	PL15 8BA
	Tel 01566772797
	Email secretayelsmc	org uk
	Wsbsna lame org uk
BOARD OF TRUSTEES
Superintendent Minster	Reverend Dawd Miller'
Mlhlstdf'	Reverend John Haley'
Ponder.	Mr Samuel Beazley (resoned 31 August 2023)
Supernumerary MlhlStefs	Reverend Keith Roberts									Reverend		Anne Cumow'
	Reverend Cathy Arscott										RSVSI8rld	HOW8fd Cunlow
	Reverend Doreen Sparey-Dalacassa'
Youth Worker	Mr Jordan Duke (contract concluded					30September 2022)
Circuit Stswelds	Mr Henry Stenbury'										Mrs Chnsbne		Hordlsy'
	Mrs Nkols Hosking*
Treasurer	Mrs Chnstlne Hordley'	(succdfmed			31January 2023)
Finance Officer	Mas Rosalind Bunkum		(Appt 1	Feb		2023)
Safeguarding Oflicer	Mrs Joanne Parsons succssfkM			by		Mrs Ann			Hobden'		(Appt Fsb 2023)
Circuit Adrrunistrstor	Mr Richard Wnght' succeeded			by Mrs Ann				Hobden' (Appt Feb 2023)
Local phi8ch8f's Sscmisfy	Mrs Ann Foster
CHURCH REPRESENTATIVES
Mr Bernard Strout	Mr Nell Burden						Mrs		Ann Fostsh
Mrs Anne Rows*	Mrs Joan Ikdme'						Mrs		Maureen		Jones
Mrs Janet Ham'	Mf Dean OfgSh*						Mr	John Whale'
Mr Anthony Stephens*	Mr Frank Arscoh'						Mrs		Jennifer	Crsber'
Mr Phgip Msdland'	Mr Philip Persons'						Mr Henry Stanbury
Mr Davkl Patt	Mr Roger John Roy Parsons'						Mrs		Nicola Husking
Mr David Lewis	Mrs Theresa Stone (resigned)						Mrs		Angels	Monison
Mr Edc Rowlend	Mrs Markm Allen						Mr Ken Scobfe'
Mrs Dorothy Dsvey'	MIS Ifanf! Stefdmiy						Mrs		Barbara		Sleep'
MIS S8lldfS Sfnels'	Mrs Ann Hobden						Dr	Ckve Vinson*
Mrs Jill Prrce*	Mhi M8rysnhd P8rsorls'		(fssignfld		Oct		23)
Mr Keth Brovme'	Mrs Dephne Tucker
Mrs Lorraine Sluggetl*	Mm Chnsbne Hordlsy*
Trustees on the date Ihs report was approved	or served as 8trustee dunng		the reporkng			period.			In addition		to those	marked above,
the folkwdng were also 9ustees on ths date the	report wss approved

Statement of Fina	ncial	Activities	(SOFA) f	or the year e	nded 31Aug	ust 2023
			Notes to		Circuit Model
			ths	UIIIsstlicted	Trtlst	Restricted	Endowment	Total	2022. Total		2021-
			accounts	Funds	(Unrestricted)	Funds	Funds		23	22
				6	6				r.
Income
Donabons and legacies				2,370		150			2,520		8,867
tncome from monetary	investments			1,329	1st	492			1,982		t,ote
Rental income				25,450					25,450	«,700
Assessments or share				199.178					199,178	208,210
Grants			6								455
Internal Organisabons			20			13,369			13,369		0,924
Total Income				228,327	161	14,0«			242,499	237,175
Expenditure
sbpends. satanas, NIC	&Pension costs		10	107,950					107,950	141,474
Property maintenance	- Manse commtuee			«,000					«,000		5,000
Dislnct Assessment				35,580					35,580	35,560
Methodist Church Fund											971
Depreoatmn			12	702					702		462
Oflice expenses				5,082					5,082		4,619
Other outgoings				7,982		167			8,149		5,249
Teklphona &travel				4,625					4,625		7,260
Insurance and uluibes				8.999					8,999	12,410
Expenditure oil othiv Cxcult		property		2,442					2,442		1,066
Sndge Church loan interest				5,588					5,588		4,028
Yoirlh Work				90		243			333		2,623
Internal Orgamsauons			20			12,472			12,472		5,676
Total charitable expendtlure				190,020		12,882			202,902	226,398
Gains/(losses) on monetary		investmenls	13		(1,037		(40		1,082		1,709
Net Income/(expenditure)				38,307	(876)	1,124	(40)		38,515		9,008
Net movement In funds					876	1,124	40		38,515		9,0SS
Totalfunds broughtforward				745,684	36,826	37,583	945		821,048	9«,eso
Total funds carried forward				784,001	35,950	38,707	905		859,563	821,048

						Gamma	Fund	Circuit Model	Restrktsd			Total~	Totals
						(Unrestricted)		Trusts	Funda	Funds		2022/23	202U22
					nates to ths			(Unmatrkted)
					Accolelts			5
Ta ibis Rxed Assets
Land & Buildi s					12	1,050,000						1,050,000
Eui t					12							2,288	2,501
		Total	tlxed	assets		1,052,260							1,052,501
Current Assets
Debtors and P					14		21,220					21,220	9,S43
Cash at Bank and	in hand						37,800		38,598			78,476	51,322
mstees Ix	od I			rposss
deposits					15			12,585				12,5S5	12,404
Central Finance Board		Deposits			15		17,188					17,188	3,951
Investrnsnts					13/15			23,385				24,401	25,367
	Total current			assets			76,288	35,950	38,707			151,850	102,087
Current liabgilles
Cash at Bank and	m hand
Crednors and accruals					16		110,933					110,933
	Total	current Babfgdes					110,933					110,933
Het current sssetalgabllMSS									38,707		905	40,917	8,033
Total assets	less	current Sabllales				1,017,623		35,950	38,707		905	1,093,185	1,060,614
Long term liabliitles
due after more	than one		ear
CI'ednors					19		233,622					233,622	239,566
			Het	assets		784,001		35,950	38,707			059,563	821,048
Funds ofthe Circuit
General Fund (Unreslncted)							754,001					784,001	745,684
Circuit Model Trust Fund (Unrestncted)								35,950				35,950
Designated Funds gnrestncuxD
Total Unrestrlcenl				Funds								819,951	782,520
Restricted Funds					20				38,707			38,707	37,583
Endowment Funds											905
		Total		Funds		704,001		35,950	30,707		005	059,563	021,040

			Leunceston Area Method(at	Leunceston Area Method(at	C(rcu(t	C(rcu(t
		Notes to Nm	Rnan otal Btatementa far the Year Circuit ldodel Un estrlckd Trust Fund		Resblclsd E~ Ended 31stAugust 2023
6	INVESTNNENT INCOME		5		E	E	5	E
	Central Finance Board		1,329	161		492	1,982	1,019
			1,329	161		HI2	1,982	1,018
6	GRANTS CJRS~t Grant
7	OTHER OUTGOINGS							2022
	Bank charges P~fess						5 270 4,480	8 260 2,715
							2268	2,160
	TMCP Admln charge						1,155	138
	Bsd debt						(24)	(24)
							8,149	5249
8	TELEPHONE &TRAVEL
								8
	Treading NNsaga						3,951	542 4,146
	Talaplmna						674	2,572
							4,625	7,280
9	INDEPENDENT EXAMNIER REMUNERATION I~IExamination						EIUS 1,134	2022 8 1,080
							1,134	1,080
	Psyros and other senrlam						965	885
								3,025
10	REMUNERAllON
	Staff coats pakl during Ihs year were ss foNows:
	Gross wages, salaries snd bane518 In Idnd						92,059	118,548
	Employer'8 Netkxud hauranm	coals					5,139	8+49
	Pmmkm ccats						10,752	14,e77
	Total slsff lxmts					~	107,960	141,474

Notes to the Financial	Stalemenls for the Year Ended 31stAugu	st 2023
TANGIBLE FIXEDASSETS			Ftltlnge 8
	Improvements	Menses	Equipment	Total
Cost
As at 1stSeptember 2022	30,000	1,050,000	6,794	1,086,794
Additions			369	389
Revakmbon
Disposah
As at 31stAugust 2023	30,000	1,050,000	7,183	1,067,183
Depredation
As at 1stSeptember 2022	30,000		4.213	34,213
Charge for Iha year			702	702
Eliminated on disposal
As at 31stAugust 2023	30,000		4,915	34,915
Net Book Value
As at 31stAugust 2023		1,050000	2 268	I 052 268
As at 31stAugust 2022		1,050,000	2,581	1,052,581

	TMCP is the legal ovmer	TMCP is the legal ovmer	TMCP is the legal ovmer	TMCP is the legal ovmer	and	Custodian	Custodian	Custodian	Trustee	Trustee	Trustee	of all Methocbst	of all Methocbst	Model Trust property,	including	Legacies, Endowments	Legacies, Endowments	Legacies, Endowments	and Accumulated	and Accumulated
	Funds Trust property		is held			for and		on	behalf		of	local Managing		Trustees who are responsible		for the	day to day management			ofTrust
	properly TMCP ensure			that,		thraugh		provding			guidance		and acbng under ther drrecban,		the Managing		Trustees	comply	vnth	Chanly Law
	and Methodist Law	and		policy as determined						by the Methodist Conference
															Endowment		Funds		CFB	Managed Mixed Funds
															2023		2022			2023	2022
	Analysis of Investment				movements										E		E			E	E
	Other mvestments	CFBManaged					Mixed		Funds							905		945		23,496	24,422
																				2023	2022
	Change In Investnwnt			values													E			5	E
	Caning (market) value			at beginning				of	year											24,422	26,060
	Add/bans																			116
	Disposal of shares
	Net gain on disposal
	Net gwn/goes) on	revaluabon														(40)		(63)		(1,042)	(1,638)
	Canyrng (market) value			at end ofyear												905		945		23,495	24,422
																				2023	2022
14	DEBTORS AND PREPAYMENTS																			E	E
	P/epeyments																			7,177	8,790
	Odter debtors																			14,043	3,053
																				21,220	9,643
																				2023	2022
15	ANALYSIS OF CASH		AT BANK																	8	E
	Bank balances																			ye,567	51,311
	Bank balance held	in	CFB																	17,188	3,951
	TMCP Circuit fund																			12,585	12,404
	liiveslmerits																			24,401	25,367
	Cash in hand																				11
																				130,741	93,044
																				2023	2022
16	CURRENT UABIUTIES																				E
	Ti'sda c/editors																			67,929	50,290
	Loans																			43,004
																				110,933	94,854
17	CAPITAL COMMITMENTS					AND	CONTINGENT					LIABIUTIES