THE GWENT HILLS AND VALES CIRcurr OF THE MEfHODIST CHURCH TRUSTEES, ANNUAL REPORT TO THE CHARITIES COMMISSION FOR THE YEAR SEPTEMBER 1, 2019- 31" August 2020 Introductlon The Gwent Hills and Vales Cirlt of the Methodist Church caffe into being as a result of a decision by the Wales Synod of the Methodist Church which ds formally athowledged on September 1, 2009. At the beginning of the year under review the circuit consisted of 29 churches located across Several valleys in Mid and South Wales. The Circuit's trustees are the rnberS appointed by the twenty-nine churches to the Circuit Meeting, which gathers three times per year to discuss and make decisions on matters pertaining to the life and work of the Circuit. Aims and Organization The Circuit is given leadership by a Leadership Team consisting of five ordained nISters. We continued to receive significant assistance from ministers retired from the full-time work but who are still active in leadership. Four lay persons ha¥e been appoin as circuit stewards, with 2 vacancies being carried forward, and three other lay persons have specific responsibility for finan, property and the work of Local Preachers. Adninistrative services are available to the Leadership Team and the Circuit generally through a part tirr* AdnistratOr paid by the Circuit, though during the year in question this post was vacant. In considering its aims, the Circuit Leadership Team has considered the Charity Comrr¥ssion's guidan on public benefit and. in particular. Ihe speofic guidan on charities for the adVanceEnt of religion. H6n(x, the Gwent Hills and Vales Cirujit exists to prorrK)te the gospel of Jesu8 Christ through promding opportunilies for knorship. missÈon and evarvJelism. Since its inceplion, the ¢ilt has made nission a priority with churches being challenged to undertake outreach on a regular basis. There is a particular errphasis on irrpacting th8 cOmnnity twond the merrt)ershtp of the churches. The Circuit has responsibility for finan rela1 to the upkeep of ministers and their honM (manses) and the support of mission related activittes across ts Circuit. The individual churches do much of the day to day planning of events and projects to support these aims. but the Circuit has set rtain priorities and placed enyhasis on certain activities to encourage the churches to carry out their nBndate. Final 16.6.21 SML
Revlew of the Year For the first half of the year churches continued to look for %Yays to serve the communities around the places of worship which 1)Uld benefft the public and spread the gospel nSSage. This was encouraged and suppjrted by the Circuit. The Circuit ensured that YlshIP servi(xs took place regularly in all its churches and that buildings and ministers were ayailable for spec¥al servIs, includir¥J baptisw6. weddings and funerals. seices were offered with varylng fOrnts and to appeal to various groups within the society such as children, families and adults vth learning disabilllies. Enwhasis was placed on coming together with joint services between iwo or nre congregalions, geographically dose, happening regularly and larger gatherings being planned at least once pw quarter. There were also two ole-CIrCuit gatherings Ofganized to which nEmbeTS re encouraged to invite friends and family EMberS not regulady at worship setyi8. Over the year training o)ntinued for those involved in the leading of rship and loc21 preaching. Many of our church buildings continued to be used by conmnunity groups requiring safe and suitable spaS for meetings and this is enry)uraged bythe Circuit Meeting. These activities range from Local History Groups, lo Alcoholics Anonymus Groups. to Community Choirs and Care Groups for persons liNing with Alzheimerfs. In addition. ffAny of our churches fun groups on church premises vA)ich a not specifically church-orientated. but ¥thich are certainly for the public benefit. These include Parent and Toddlers Groups, Uniformed Organizations for girls and boys, Coffee Momings and lunch clubs. These activities seek to enhan the comnmjnities in which our churches are located, iryirove WEllbeing and reduce isolation and loneliness. IrKlividual churches and the Circuit itself supported specific charitsble causes in its specMI Servi held during the year. God In Love Unltes us Following the publication of th8 Methodist Church Report. "God in Love Unites Us." a report of th8 Mam'age and Relationships Task Group 2019 for study and prdyerful disCussn.. infomBtion and consultstlon sessions tt)ok pla throughout the Cirlt for wembers of the charity. led by the ordained staff. The final 2 face-t(Fface sessions were Canlled due to the CoiAd lockdtrffii, and so email comThnls on the port FApre r1ved. In total 77 people attended the infomiation sessions and 28 the Consultation sessions. cOmEntS recorded at the* sessions Ere made available to the Synod. as requested. Covld Final 16.6.21 SML
For the latter half of the Connexional year church and circuit life impacted by the Corona Virus panderrdc. Buildings remalned shut duriThJ lockdthyn in accordance with Welsh Assembly GovemmenL UK Govemment and the Methodist Church of Great Britsin and Northem Ireland regulations. Whilst church buildings were shut the mission of the charity was promoted through the use of postal and digital ffeans. Letters and Servi sheets were sent out regularly. by Royal Mail and by email, and Ser¥IS were rnade available to people via Zoom. Pastoral visiting was not possible. so contact was largely by telephone calls and letter. Staff and pastoral teaffs continued to offer spiriknal, emotional and Ental supp)rt as st they u)uld lo and adherents as well as through practical initiatives such as IoGal food banks and community hubs. The pandemic resulted in experimentation. and as a result r and exciting forms of worship and spiritual support have developed and gro. The digital platfonn has enabled people from all over the world to join in the activities, along th local people of different denominations and those with no regular church connections. During this tsnE ffAny churches have experienced a drop in income. bthi18t outgoings have remained. The CTrcuit trustees approv&J a nnS by %thich churches in need (x)uld be offered assessment holidays subiecl to qualification criteria. This has proved a life-line to some. By the end of the reporting period 2 (*urches had been helped in this vtay 1th holKlays amunting to £5,024 During the pandemic the charity trustees ha4p been kept infom78d of deVelOpEnts and consulted about matters needing trustee approval by email and post. Latterly. as acceptance of video conf8ren¢ing has grown it has been possible to hold trustee rreetings by Zoom whilst ensuring that those not able to access digrtal nEdia were o)nsulted by 11, ensuring full engagem&nt with the matters of the charity. During 201 gr20 the sale of the church building at Aberbeeg was corry)leted, and the thurch trustees at Snatc1WOd voted to cease worship and dose the building. Income Trends The Circuit incom8 is primarily drawn from assessrrent paid by the circuit churches. Total income for the year arTh)unted to £303,138. Expenditure Trends Stipend expenditure has infftased each financial year in Ilne with Conference approved increases. The expanditure budget approved for the year £323,205. Of this £302,411 was received from churches by way of asseSSrrnL The budget ants'cipated £16.(KM) of expenditure beirYJ funded from Final 16.6.21 SML
reserves. The actual spend for the year a8 £2.905. The main COOnents of the £26k undeT5pend were: staff travel co8ls: £5k Wales Synod ASsesSnI waiver: £2k Manses repair & maintenance: £5k Administrator vacancy: £8k Resour and contingency: £7k 18.2% of expenditure ¥was the Circuit's contribution to the Distrid and conneOn, of which a significant part is used to fund the of the wider Methodist Church. Fund Balances As of 31 August 2020, ttE net current assets of the Cirlt Ire £405k, giving approximately 15 months. cover for expenditure. A nwlti-year manse upgrade programn concluded in July 2019 Vth the sale of the Blad(wood manse. This programn drew on circuit reser4es to provide bridging finan between purchase of replacerrent manses arKI sale of the corresporKliro redundant property. The trustees are woking reserves available for church and CFrcuit projects, the support of churches unable to pay thr quarterfy contribution due lo the impact of church dosures due to COVID restrictions, and the inTJrovement of Varteg Centery to bring it to a safe and sustainable condition. Plans for 2020121 Ctrcuit ffinanoal plans for the 2020121 have been prepared based on an on-going full-time ordained staff of 5, appointff£nt of a part adniStrator. and o)sl of living stipend increases. Prior yeaf areas of underspend Ere revievd. and the budget reduc acccKdingly. This resulted in a £4k year-on-year budget saving. The trustees decided not to fund operating costs from r88er41es resuSting in an averag8 3.9% increase in aSsesSnnI Tequested from the circuit churches. Bas18 of preparatlon and legal framowork The Charity's annual report and accounts for the year ended 31 August 2020 have b88n prepared in accordance with the Chariti8s Aci 2011 and the Charitie8 Statsment of ReGomnEnded PraGti 2015 as applicable to the Financial Reporttng Standard (FRSSE) 2015. Full Name of Charfty: Gwent Hills and Vales Methodist Circuit Reglstratlon Charlty Number. 1140255 Date of Reglstration: 2009 Final 16.6.21 SML
Maln Communleatlon Addregs: Circuil Office. Uanyrafon Methodist Church, Llanyrafon Way. Cwmbran. NP44 8RA. The members of the Gwent Hills and Vales Circuit Meeting are th8 Charity Tnjstees, rrEmbership being rnade up of cirGUit office h(thrs, ministers and representatives appointed by local churches. Clrcult Ministsrn and Officer5: Active Ministers: Rev. Sue Lawler, Rev. Gareth Edwards. Rev. Stephen Boxall, Rev. Andrea Siff£. Rev. Catherine Lewis. Circuit Lay Worker: Mr. John Evans. Mr. John Penny, Mrs Celia Pri Circuit Propety Steward.. Mrs. Jan Jackson Circuit Preachers Secretary: Miss Margaret Webber. Circuit Stewards: Jean Edmunds: Jane Evans; Jan Jackson. Gill fimm. Chris WhFte; vacancy Abertillery Section,. vacanry Pontypool Sedion. During the course of the year Rachel RiMer beca representative for the Pontytx)ol section. and Sian Millar for the Abertillery section. Adrinistrator: Vacan Circuit Treasurer. Mr Ken Bailey acted as the prin(apal offir overseeing the day lo day financial managefftsnt and accounting for the Gircuil durirKJ the year. Independent Examiner: Nevrton Green & Co. 17 Wyelands View. Mathem. Chepstow NP16 6HN Investmenl Bankers: Central Finaft Board of the Methodist Church, Trustees for Methodist Church Purposes. Objecttves and Purpose The charity objective is to act as a r&8ource provider for the Methodist Church within the area around the valleys of south east Wales. The purposes of the Methodist ChurGh are and shall be deemed to have been Sin the Date of Unlon the advancement ot. a) The Chriskn'an Faith in accordano with the d(xtrinal starKlards and disapline of the Methodist Church" b) Any charitable purpose for the tirr£ being of any Connexional. Distiirt Circuit, local or other organization of the Methodist Church: c) Any charitable purpose for the tirre being of any 8ocW or Institution subsidiary or ancillary to the Methodist Church; d) Any purpose for the being of any chaiity being a charity subsidiary or ancallary lo the Methodist Church. Flnal 16.6.21 SML
Also. the organization and resourang of regular public acts of rship open to mert)ers of the church and non-ffEthr$ alike: the teaching of Chrislianty through semN)ns, courses and small groups. the resourcing of pastoral vKrk induding visiting the sid( and bereaved: takiryJ religious assemblies in local schools: W1nlon of Christianity through the staging of events and Servi$. provision of Chaplaincy Servi to the local univer&ty and other institutions. Publlc Benefft We confinn the trustees have had regard to the Charity Commission's guidan on public benefft. Structure, Governance and Management The goveming docutrEnt for the drujit is the Deed of Unlon {1932) arKI Methodist Church Act (1976). Detailed govemance arrangements are oulined within the Conslitutlonal PrartI and Discipline of the Methodist Churd) by order of the annual conference {CPD). Day to day management of the GirGuit 18 undertaken by the Circuit Leadership team along with the Local Preachers meeting and the Circuit Finance and Property Committees. Trustee Tralning A range of guidano Produ by Methodist Connexion lo supp(Yt the effecb've running ofthe circuic specifically the leaflet The Role of a Trustee in The Methodist Church, is given to all new CiTCUit eting Ernbers as induction to their role as trustees. Related Parties The Circuit is part of the Wales Synod a1 is also accountalle to the Methodist Conference. The following Methodist Churches are linked to the (arcuit at the erKI of the reporting period: Abergavenny. Abertillery, Beaufort Hill, 8edwas. Blackwood, Blaenau Gnt. aina. Cvffi)1yn, Fairhill, Garndiffaith, Gla8bury, HotE. Uanelly Hill. Ltanyrafon. Nantyglo. Neridge, Panteg. Ponllanfraith, Pontnewynydd, Pontypool. Race, SL Jarres. Tredegar. Trinant, Trinity. Tyllwyn, Upper Cvmbran. Wesley Pla. Rlsk Management The JOr risks have identified and recorded by the Circuit Firlance and Property Comrrittees th professional advi laken as required. There is a regular annual VIeW process undertaken. Ftnal 16.6.21 SML
Encoe and Expenditure is being rTr)nitored in total and is C£mpared with the approved annual budget on a half yearly basis to tstect trends as part of the risk nageffEnt process to avoid unforeseen calls on reserves. Safeguarding Every person has a value and dignity lch comes directly from the creation of male and female in God's ovffl irYBge and likene&s. Christians see this potential as fuffilled by God's re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm. Methodist Connexional practi outlines commitment to the following principles: . the care and nurture of, arKI respectful pastoral ministy with, all children, young people and adults the safeguarding and protection of all children, youNJ people and adults when they are vulnerable • the establishing of safe. caring communities vthich provide a loving environment where there is inf0md vlgllance as to the dangers of abuse. . We will refUIty select and train all those with any responsibilty within the Church, in line with Safer Recruitffent prinoples, induding the use of Criminal records disclosures and registration with the relevant vettirYJ and barring scherrEs. . We will respond without delay to every complaint wode vthich suggests that an adult, child or young person may have been hamEd. cooperating with the police and local authority in any investigation. We will seek to work 1th anyone who has suffered abuse. developing with them an appropriate ministry of inforn pastoral care. . We will seek to thallenge any abuse of power, especially by anyone in a position of trust. . We will seek to offer pastoral care and support. induding supervtsion and referral to the proper authorities. to any nEner of our church communty known lo have offended against a child, young person or vulnerable adult. . In all these principles we will follow legislation. guidance and recognised good practice The Gnt Hills and Vales Circuit commits itself to ensuring irylementatlon of ConnexFonal SafeguardirYJ Policy., governrrEnt legistation, guidan arKI safe practi in the circuit and in the churches. The GEnt Hills and Vales Circuit commits itself lo the provision of support, advicé and training for lay arKI ordained people that will ensure peo are dear and confident about their roles Final 16.6.21 SML
and responsibilities in safeguarding and pronM)ling the welfare of chiklren and adults who may be vulnerable. Supervision The Gwent Hills and Vales Circuit fully embra(x the requirerrents of the Interim Supervision Policy 2017-2020. Supervision in the Methodist Church is an exploratory and reflective prosS. Every ordained minister is required to nEet 1.1 for an hour and half with a trained, resOUrd and approved supervisor to reflect on their vorAb"on and practi at least 6 tiff£s per year. Others with significant pastoral responsibility are encouraged to be in supervision. GDPR Th8 Gwent Hills arKI Vales cir(lt comrrdts itself to ensuring the implemèntation of govemmenl legislation, and guidan and good pradi(t as provided by the Methodist Churth TMCP, in the circuit and in the churches. The Gent Hills and Vales Circuit commits itself to the provision of support. advi and training for lay and ordained people that will ensure people are dear and confident about their responsibilities as requir8d by the GDPR. Reserves Pollcy The R&%eTves Policy for the Circuit is to hold a ni[m sum equivalent to six rTh)nths' average expenditure. This should be sufficient to rreet any unforeseen Stem of major expenditure on manses and l or to be able to continue. in the short terni, funding planned ac&ivities in the event of any inats'lity to raise the full Circuit Ass&Ssnnt from churches. Report approv at Clrcuit Meeting held on 17th June 2021 and signed on behalf of the Trustees by Its Chair, Rev. Sue Lawler Final 16.6.21 SML
CIRCUIT ACCRUAL ACCOUNTS THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS Gwent Hlll8 & Vale8 Circuit FOR THE YEAR ENDED 31 AUGUST 2020 Wales Syn Clrcull no 2113 Rogl•tar•d Charlty. Charlty R•91stratkn number 1140255 If not a wistered ttharity Her MaJMty$ Revenu• and Custom GIftAld number trhe HMRC number is equivaknt to a registered charity number in tenns of ev#Jence of charTiable stalus and may be used to gNe to donors or grant funders wthing to see evKlence of the oryanisatK)n's charitab Status. Methodist ¢harTbe5 in England and Wales that are not registered charities are excepted from registration under Statutry Instrument 2014 No.2421 Ministers: Rev S Ladler Rev G Edwanls Rev C L15 Rev S Boxall Rev A &ms Circuit St8wards.' Miss J Ebvis Mrs J Meredilh Mrs A Dav Mr J Penn Mrs G Timm Miss M Webber Mrs C Vlhite Treasurer. MrKBai 1d6
25a 15 tIow)rLVQ iy n * W ¢t f4r• Ul L¥ u(Jz0z
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111111 1111 11111 11111 11 11111 11111 11111 EEII 111111 2111
DECLARATIONS Trgasurnr I confirm that I have prepared the accounts from the records of the Cirrlt and that ttw irLlude all funds under the control of the Circuii SnatUre of Treasurer 19-Fe21 Name K R Bailey Athlress Pembroke House Lower Park Terrace Pon I NP46LB Presentation to the'clrcult IAeoting for approval. I rA)nfim that the knunts have been we5ented to Its Circuit Meekn)g on and were approved. 1&Mar-21 Signature of the Chair of ttE meettng Name of the Chair of th8 meeting RevSL Date 2JUr21 Independent Examinorfs Report to the Trustees of the Gwent Hllls & Val Clrcult This Report is on the Circuit Puounts for the year end&a 31 August 2020 ResptiVe responsibililies of Truste88 and Examlner The charivs trustees are responsible for the preparation of the xcounts. The Chartty's trustees consKle not required for this year under section 144 of the Charthes Act 2011 (the Charities A£t) and that an ir examinath?n is needed. It i% my responsibilty to: Examine the a¢cwnts under Se¢lh)n 145 of Chartties Act to follow the prccedures laid dtrwn in the gwal DirectK)ns given by the Chaiity Commission (under SectM)n 145(5)(b) of the Charthes Act), and to state whether particular mattets have come to my attention. 5rlfj
My examination was Carri out tn accordanc4 ggneral Dfvyions gr¥en by the Charity Cornmissbjn. An examinth'on indudes a r8vi8w Of afxxwnliThJ rpcorTJs kept by ts ¢arity aNJ a c¥)mporison of the accwnts presented with those record8. It also ¢nsidwatKm of any unusual LY disdosurns in thè accounts, and 8eekiro explanaS Irom thè Iwsléès rMing ary suth fflatters. The rKcttdures underiaken do not provido 911 the evidence that vthild be required in an audit. WKI nS9q(wl rK) opinM)n is gw) as to v•thethèr ac¢ounts Indendant Examln•f8 81atemont {1} gNgS m TeasonatAe to beiiv4e that wi any materfd re8rd the reqUIrents. requiramwts of the Chaiilies Acl have tK ten fTrt or 12) lo whlth, In my q)inion. alIentb Sh be dF•wn in Lyder to enabb a wcyer wY1erntsTln9 of thE {3) I havethave nor obtained indef of all investrrTrts 7hiih the TTUStees for Methc#Jist Church Purposes mcP) or hekl ¢knr Trusts. Bank balances and Funds at the Central Financg Board of the Methc#Jist Church rcF. e ithhJu8lty in 8x¢ess of£10.(M)) Oen th(wsarMI pound8} at t baknce Set date. Name R Lehin Signalwe Relevarrt Prof8ssional quofificaiion or ix M#them Chet*ttrw NP16 6HN Dats 8d6
Notes to the Gwent Hills & Vales Circuit Accounts 2019-20 1 Ba•1• ol a¢¢ounting The fa481 statements have been wep0d Lmderthe Ctlti Ad 2011 aoroTrlance th the 2014 version of AnI11g otvj Rerth"ng ty cfwities: statern of Re0)M (SORP) aPpC4te to tharities preparing iheir Yjnts in ac0)rd wtth FRS102- th? SORP IFRS102) and tsklNJ notg ofthe UFJate Bulleln 1188ued 7 2016. 2 Funds The frdI hebJ o)n8titits'. General Funds hekl fi)r any w[pt offv Cirniil Thth •e LknreslJithd. Tho Cirwit Aodel Tnt Fund has wde pwp06es defined in Standing Ordw¥ 0TrJ 18 cate99r a¥ unrostricted. R¢¥tride(I funds which are held for 8 nantyer Tre are no Endornt fiJnd5. DetaiL8 ofeach material fijnd are dl8dosed in th6 find nrAe to these wnIS Any rr• be reWe$j by nTh)reth8n Iu81 cash. 3 Accountlng pollcles la) Basis valug atths erKI ofthe ypar, m the bgSbS ts) sfThi 8 Irtle •TrJ faw¥1 ofthe Cl[4$ fin¢11 F(Artsl and (b) Incoming Resources Ino)me is induded in the Ststement of FinarKaal Acbvitss {SOFA) Cirthri be(x)me$ enlilled lo the resourcw, and the trustees are reaaon wtain they wll the r•styJrce6.' and the monetsry valug can (c) Resources Expended T18 18 rPrgn18ed when a liablFty is inomj. w a (X)rtr owation l$es, that tesulb poymerrt boing unavoidable. are rwiJ as as an ¢tTh¥ ofeoyKry benefft is ()sKIe[ed more lIke than not (d) Grdnts Grants made by the Clrojlt frcm Fts furxjs are rgw#sed in at the time orwhen the Circuit (e) VAT sin th8 C¢xNt is not VAT regi8twed. 811 #ixrt VAT B dwged iih the experAe8 to t•hk it r•1. (fj Tangible flxed assets for uso by the Clrcult T9ngle fixed assets are capitsjised czn used for nKWO one y6ar arrtj cost at least £gJO. The freelm propèrty is shovm in the XCots at 2020 deerTd values, of¥thich th• laThJ tsJmKnt of Mwse$ value is deemed to be £250.(lJ). No detron pKovided the bLDlding the trustee8 constder the [rent rÈ$idu81 tsir value of the manse bLFihJing8 lon the assumpkn Ihat it had reached the eThJ of its useful eo)nomi¢ lrfe by the year- for impairment. (g) Inve8trnent Properties chu At the stsrt ofthe yearLwaS hekl by the carcJJil aThJ was unused in the process ofbeing sold. tt was valu8d on the ba sheet at its •nlirypated net Sale valL of £7,084. tt was 801d Odoter 2019 ata net10&8 lo mart bne sUu$ to wulr8m•nts during the ywon relirwn•tt of a mkni8terwho wll not be re8¢4. It was vali C the 2019 balan shoot at£140.423. Itwas sobj in Augu8t2020 •1 • ngt h)ss of £25.812 All oth•r (h) Investrnents Invastrnents are valued in Ihe bala1 she8t at martet ¥8lue at thè ye8r end. lMwtn incom& is IrK4LTrJed in the aei*unts when rwxlvable and any gains or10$8es on re¥duatiort at ts year-erKI are shovm In the SOFA. Prepared by: Ken Bailey. Circuit Treasurer 24 February 2021 Pagelof4
{1) Debtors Debtors1£20.680) c(ryriw ofSetrtwtr2ff20 slirth Ai ALW8t 2020 {£14.71J)). prpayt of 2021>21 insurance prnnium (£2,n3), 8NJ lth rwt olasses)e aTrJ tn1c1 fijnd donalions1£3.25n U) Creditors Cr¢drtOryd (£74.15J) o)mprises the 1st quarter 2019f20 a¥séssment reeelved frc¥n mct thur8 in AgL 2019 (£61,473). 6Ut)thy expen6es1£7.397) and cdlwxons for others {£S.280} 4 Payment to Trustees the Cwjit Meetbng, thh8 exdudes stipe. Trustee expenses were: 20191120 15 £17.570 Expense payments primarity relate to reinthrSEnt for trav81, postage, stalbonery and computing costs . 2018M9 14 Number of Trustees Total amount S Fees for examlnatlon or audlt of the accounts 2019r20 2018119 Independent examinels or adItorS, fees for reporting on the )Unts (Jher fees leg: advth. a(xxuntaKy servw) pahj to the inde[nt examiner or auditor 250 250 NIL NIL 6 Pald employees (excluding stip•ndiary mlnhtors) Staff Costs p•id durfry tho year. Gross w•Jes, salaries and beneffts in kirKI Employerfs Natwal InsurnThx costs Pension costs Total staff costs 2019120 2018119 Average number of fu114ime equlval•nt •nploy•os In th• y•ar (rounded to nearest wlKble number): 7 Capital Commltments and Conllngont Llabllitl•s The were no catrI cx)mrrithts at 31 U$l 2019 No Contingent liabililles were bjentified at 3111 August 2019 Prepared by: Ken Bailey. Circuit Treasurer 24th Febmary 2021 Page2of4
8 For infornatlon only hloney receid and on to External 2019r20 2018119 Balanco brought forward from la•t year 4.115 offeringGrfIs. rgxived for Extemal OTganisatK OfferingslGrfts. passed to Exiem81 Organisatior 1,690 Balance carried forward 9 Tanglble Flxed Assets Cost or valuatlon FIXre8, flttlngs and oquipment P•ym•nts on ¥¢¢ount and a889ts und•r bu1 Total Balan b 1338 386 Additions 16.391 Revaluations Dis -147 507 Transfers" Balance carried forward 1207 270 1207 270 Accumul•ted depr¢d•l Balance brou ht forward Depreciab"on charge for Revaluations +1. Balaf &8rTied forward Net book valuo Brou ht fopNard 1.331.202 1338 286 Camed forward 1.207.270 1207 270 Prepared by: Ken Bailey. Cirtult Treasurer 24th February 2021 Page3of4
During the year the urcutt purchased converted tro garage at Ll8nlamam manse to provvje an enhanced offi¢8 space, at a cost of £16,391, shcfyvn as an addrtK)n above. The Nantyglo mark b8caffe suWus to requirements during the year. Itvras valued on the balance sheet at £140k. It was sold in AU51 2020 8t a netloss of £26k after expens and Cthnex¢(mal kn. This loss is shown on SOFA line 19 Gain¥J(lossesl on investrnent prorkn. Other Property: At the start of the year Aberteeg ¢hur¢h was hekl by the ¢ir¢uit aThJ was unusal and in the prccess of being sold. It was valued on the balance sheet at its ants'¢Èpated net sak value of £7k. It was sold in October 2019 at net loss of £444 after 9nseS, retumabb grants and Connexional levy. The net Vglue re81is&J from the sale of these properties 1$ shcwn on SOFA line 19 GaIn(Lo$se$) investnwt properties. 10 Inveslment assets The clrcuit held Aberbeeg Church which was disused and was sokl during thè year. No invesknent properties were carTied forward. The Circuit has no comffth investrnent fund hoklirvJs 11 Loans At 31 August 2020 the Circuit was not relpt of any k)ans has no oulstanding k)ans to others. The same was the case at 311t August 2019. 12 Anaty3i8 of restrlcted and deslgnated lunds 20120 Restrleted Fund Nam• Opéning Balance Incoming CIo8lng Balancg Purpos• of tho fund Exded There were no restricted or nated funds Totals "Comparative analyws of restricted and dwnated funds 2018-2Q19 Restrlct•d Fund Nam• Oponlng Balance Trnngf¢rn Closing Balanc• Purpos• of the fund Resou88 There were rK) restricted or des nated fvnds Totals Prepared by: Ken 8ailev, ClrcuitTreasurer 24 February 2021 Pa8e4of4