2023-08-31-accounts - West Sussex (Coast And Downs) Methodist Circuit

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

		Notes to			Circuit Model	Circuit Model
		the	General	Fund		Trust	Restricted	Endowment	Total	Total
		accounts	(Unrestricted)		(Unrestricted)		Funds	Funds	2022-23	2021-22
			F			F	F	f	E
Income
1 Donations and legacies									0	150
2 Income from monetary investments				14,216		11,133			25,349	4,348
3 Income from properties				60,087					60,087	67,384
4 Assessments on Churches			491,320						491,320	488,308
5 Capital Receipts									0	0
6 Grants received									0	0
7 Other charitable activities									0	0
8Total from charitable activities			565,623			11,133			576,756	560,190
9 Other Income 10 Total income and endowments			565,623			11,133	"		0 576,756	0 560,190
Expenditure
11 Grants and donations		9				71,000			71,000	35,000
12 Salaries and associated costs		10	352,970						352,970	331,425
13Property maintenance		11		55,203		11,195			66,398	106,058
14Connexional assessment		12		80,521					80,521	85,014
15District Assessment 8 Levy		12		23,830					23,830	23,418
16 Depreciation									0	0
17Office expenses		13		2,067					2,067	2,543
18Other outgoings		14		74,828		15,119			89,947	97,835
19Total charitable expenditure			589,419			97,314			686,733	681,293
20 Gains/(losses) on monetary	investments					1,318			-1,318 -	2,080
21 Gains/(losses) on investment	properties								0
22 Net income/(expenditure)				23,796	-	87,499			-111,295	-123,183
23 Transfers between funds		15
24 Other gains/losses (Property)			1,186,949						1,186,949	526,049
25 Net rnovernent in funds			1,163,153		-	87,499			1,075,654	402,866
26Total funds brought forward			7,392,035			368,171	2,781		7,762,987	7,360,121
27Total funds carried forward			8,555,188			280,672	2,781		8,838,641	7,762,987

				General	Fund	Circuit Model	Restricted	Endowment		Totals 2023	Totals 2022
				(Unrestricted)		Trusts	Funds	Funds
			Notes to the			(unrestricted)
			Accounts	E		E	E	E		E	E
Fixed Assets
											7,038,634
Investment properties
Investments
Total	fixed	assets		8,225,583					0	8,225,583	7,038,634
Current Assets
Deblors and Prepayments			BS2		21,873					21.873	22,470
Loans by Ihe Circuit			BS2		2,000					2,000	3,000
Investments with TMCP			BS3			351,672				351,672	368,171
Central Finance Board Deposits			BS4	481,445						481,445	501,618
Cash at Bank and in hand					12,376		2,781			15,157	11,254
Totaicurrent		assets		617,694		351,672	2,781			'872,147	906,513
Current liabilities
Creditors and Accruals (due	in under I		BS5
				186,089						188,089	182,160
Grants payable within 2023-24			BS6			47,000				47,000
Total current liabilities				188,089		47,000				235,089	182,160
Net current assefs/iisbiiiries				329,605		304,672	2,781			637,058	724,353
Total assets less current iiabiiides				8,555,188		304,672	2,781		0	8,862,641	7,762,987
Long term liabilities
(due after more than one year)
Granls payable from 2024-25			857			24,000				24,000
Loans to Ihe Circuit
	Net	assets		8,555,188		280,672	2,781			8,838,641	7,762,987
Funds ofthe Circuit
General Fund (Unrestricted)			BS8	8,555,188						8,555,188	7,392,035
Circuit Madel Trust Fund (Unrestricted)			BS9			280.672				280,672	368,171
Total Unrestricted		Funds								8,835,860	7,760,206
Reslricted Funds			BS10				2,781			2,781	2,781
Endowment Funds			BS10
	Total	Funds		8,555,188		280,672	2,781		0	8,838,641	7,762,987

West Sussex (Coast and Downs)	Methodist	Methodist	Methodist	Circuit	Circuit		Circuit No	36108
Cash flow statement for the year ended		31August		2023
							2023	2022
Cash flows from operating activities:
Net cash provided by (used in) operating		activities					(118,205)	(200,172)
Cash flows from investing activities:
Dividends, interest and rents from investments							85,436	71,732
Disposal of property, plant and equipment
Net cash provided by (used in) investing		activities					(32,769)	(128,440)
Change in cash and cash equivalents	in the		reporting		period		(32,769)	(128,440)
Cash and cash equivalents at the beginning			ofthe reporting			period	881,043	1,009,483
Cash and cash equivalents at the end	ofthe		reporting		period		848,274	881,043
Net income / (expenditure) for the reporting			period				(111,295)	(123,183)
Adjustments for:
Dividends, interest and rents from investments							(85,436)	(71,732)
Decrease / (increase) in debtors							1,597	(4,268)
Increase /(decrease) in creditors							76,929	(989)
Net cash used in operating activities							(118,205)	(200,172)
							2023	2022
Analysis of cash and cash equivalents							f	f
Investments with TMCP							351,672	368,171
Central Finance Board Deposits							481,445	501,618
Cash at Bank and in hand							15,157	11,254
Total cash and cash equivalents							848,274	881,043

he Circuit al ustin ton.	so made a	contr	ibution towards the co	sts of the lay employee	contracted to
				2023	2022
Methodist~Sti	ends inciudin		Ni 8 Pension	225,280	216,116
URC Ministr	8 Mission			40,152	48,680
La Em lo	ees			66,407	49,084
Ex enses -	Post Stationer		etc.	977	843
Expenses -	Telephone	and	Broadband	6,422	4,446
Ex enses-	Travel			13,732	12,256
TOTAL				F352,970	F331,425

larly„ it is expected that p 3/24.	larly„ it is expected that p 3/24.	ayments in		dvance at 1Sep	tember 2023 w	ill be expen
DEBTORS					2023	2022
Credit Owed re BTincorrect charg~in					41
Reimbursement re Travel		Ex enses			261
1"Monthl	Re a ment re	Rent Holida			886
TOTAL					F1,188	KO
PREPAYMENTS					2023	2022
Insurance					3,651	3,039
Insurance	re Littleham ton Minister's		Manse			194
A ents Fee re Southdown		Wa			189
Tenanc	De osit Scheme	Fee
Methodist	Sti ends				16,777	18,686
Methodist	Stipend A prenticeship Lev				62	68
Council Tax re Littleham		ton Minister's		Manse		483
TOTAL					F20,685	F22,470
LOANS	TO CHURCHES				2023	2022
Loan to	Shoreham for Roof Re air			*		3,000
Loan to	Bo nor for Roof Repair				2,000
TOTAL					F2,000	F3,000
					2023	2022
DEBTORS AND PREPAYMENTS GRAND TOTAL					F23,873	F25,470

expected that all sums ac August 2023.	expected that all sums ac August 2023.	cr	ued at 31"August 202	2 will be paid during the	year to
CURRENT LIABILITIES				2023	2022
Circuit Education and Youth				180	180
				1,077	794
Propert Provision				41,088	36,434
Removal and Relocation		Fund		9,994	10,846
TOTAL				F52,339	F48,254
CREDITORS AND	ACCRUALS			2023	2022
Audit Fee				4,620	4,440
Audit Letter Char	e				14
Blake Mor an Invoice				4,299
Blake Mor an Outstandin			Work	1,800
BTLancin Bill					69
BTOffin ton Bill					66
Circuit BBQCosts				20
Outstandin Work	at Offin		ton Manse		1,550
Outstandin Work	at Gorin		Manse		7,800
Outstandin Work	at Gorin		Manse		2,313
Outstandin Work	at Rustin		ton Manse		400
Paine Manwarin	Invoice				108
S Harmour Invoice				1,440
T Kni ht Invoice				480
TOTAL				F12,659	F16,760