ST AUSTELL METHODIST CIRCUIT
Registered Charity No. 1141712
Trustees' Annual Report: 1 September 2021 - 31 August 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Charity name St Austell Methodist Circuit Registered charity number: 1141712
Structure:
The St Austell Circuit is part of the Cornwall District, and is accountable to the Methodist Conference. The Circuit functions in accordance with the Constitution, Practice and Discipline (CPD) of the Methodist Church, known often as The Connexion.
Names of the charity trustees:
The number of trustees fluctuates during the year depending on changes in office holders in the chapels and Circuit. There was an average of 85 trustees listed on the Charity Commission website during this year. They are appointed by local churches and existing trustees; Ministers are automatically trustees. In accordance with the CPD of the Methodist Church, the Chair was Rev Paul Benney, the Superintendent Minister of the Circuit, who came to the Circuit on 1 September 2021.
Names and addresses of advisers:
Legal – Stephens Scown, 1 High Cross Street, St Austell PL25 4AX Financial – Phillips Frith LLP, 9 Tregarne Terrace, St Austell PL25 4DD Independent Examiner – Amy Sole FCA of Phillips Frith LLP Investment Bankers – Trustees for Methodist Church Purposes Estate Agents – May Whetter & Grose, Piran House, 11 Fore Street, St Austell, PL25 5PX
Description of the charity’s trusts:
Type of governing document: Deed of Union (1932) and Methodist Church Act (1976)
Management:
Circuit trustees meet four times each year (the Circuit Meeting), and a Circuit Leadership Team (CLT) consisting of the Circuit stewards and staff meets between the trustee meetings. There is also a Property Committee, which oversees the management of property in the Circuit, and is responsible to the CLT and Circuit Meeting. The day to day management of the Circuit is undertaken by the CLT.
Circuit Administrator:
Debbie Eade, 7 Eastbourne Road, St Austell PL25 4SZ
Induction/Training:
A range of guidance is produced by Methodist Connexion and provided as required. The leaflet ‘The Role of a Trustee in The Methodist Church’ has been given to each trustee. All trustees who are required have undertaken Creating Safer Space Foundation Module training, and many have done the Leadership module. This training is ongoing. Many trustees have also undergone DBS checks for work they do within the churches of the Circuit.
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Risks:
A formal risk assessment for the Circuit has not been undertaken, as the Circuit operates as part of the legal structure of the Methodist Church of Great Britain. Any specific risks are considered by the CLT, who take professional advice as required.
Safeguarding:
Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled 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 practice outlines commitment to the following principles:
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the care and nurture of, and respectful pastoral ministry with, all children, young people and adults
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the safeguarding and protection of all children, young people and adults when they are vulnerable
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the establishing of safe caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse
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we will carefully select and train all those with any responsibility within the church, in line with safer recruitment principles, including the use of criminal records, disclosures and registration with the relevant vetting and barring schemes
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we will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, co-operating with the police and local authority in any investigation
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we will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care
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we will seek to challenge any abuse of power, especially by anyone in a position of trust
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we will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult
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in all these principles we will follow legislation, guidance and recognised good practice.”
The St Austell Methodist Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the Circuit and in the churches.
The St Austell Methodist Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.
OBJECTIVES AND ACTIVITIES
Summary of the objects of the charity set out in its governing document:
The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:
a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church; b) Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of The Methodist Church;
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c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;
d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church.
Summary of the main activities undertaken for the public benefit in relation to these objects :
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The trustees have had regard to the guidance issued by the Charity Commission on public benefit.
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The Circuit produces a quarterly preaching plan to ensure regular acts of worship take place at each of the 20 Methodist Churches in its geographical area. These are open to all. However, due to Covid 19, churches closed voluntarily in November 2020 and from January to March 2021. All have now reopened again.
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The Circuit is also directly involved with leading worship at the Age UK Day care centre and other venues as invited. These include conducting numerous funeral services at local crematoria as well as at churches, baptisms and weddings.
ACHIEVEMENTS AND PERFORMANCE
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a) Circuit Policy Document – a Circuit mission statement and mission strategy began operating in 2013, and many local churches revised their strategy to bring it into line with that of the Circuit. The strategy has brought a better financial balance to the Circuit, and enabled the appointment, of a number of lay workers – pastoral assistants and a new Children and Families Worker in July 2022.
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b) A review of the Circuit Mission Statement and Strategy was carried out in 2019 onwards which will inform decisions about stationing and staff from 2021. Many meetings and consultations with members of the Circuit have continued to take place and a new Mission Statement and Strategy was agreed at the September 2020 Circuit Meeting.
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c) In the calendar years 2021 and 2022 total adult attendances at the main services on Sundays were not measured due to the continuing effects of Covid 19. The Methodist Connexion did not collect statistics for that year.
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d) The project for renovation of the hall at Bugle is ongoing. Work with young people at Bugle continues to be very successful but further grant applications to complete the work to the hall had been rejected for various reasons. A request to the Circuit for a grant of £100,000, linked to the sale of the Churchtown Meadows manse, was approved in June 2021.
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e) A further project for renovation at Tywardreath is ongoing.
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f) Churches in the Circuit work with various ecumenical groups such as Churches Together in St Austell, Par, Mevagissey and Roche and St Dennis.
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g) Work with children and young people has increased with the return of holiday clubs, Messy Church and Lego Church.
FINANCIAL REVIEW
See “Annual Accounts and Reserves Policy 2021-22” on following pages.
The Circuit Leadership Team has drawn up a set of recommendations, which have been accepted by the Circuit Meeting, to ensure grants made from the Circuit Model Trust Fund are used effectively for mission and capital works. Grants and loans amounting to approximately £100,000 (£100,000 last year) were approved for supporting the staff and churches in the Circuit with property schemes. Also £52,280 was paid to the District and Connexion in the form of assessments and levy (£55,244 last year). The churches of the Circuit hold other trust funds.
Brief statement of the charity’s policy on reserves:
The Reserves Policy for the St Austell Circuit is to hold a sum equivalent to 6 months’ average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and/or to be able to continue, in the short term, funding planned activities in the event of the closure
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of a large church or an inability to raise the full Circuit Assessment from churches. As part of our forward planning, expenditure forecasts are prepared looking 2 years ahead. It is necessary to hold sufficient working capital to enable the quarterly payment of stipends and business expenses for 3 ministers and various lay staff, and our contribution to the District. For further details see the following Annual Report and Reserves Policy.
Details of any funds materially in deficit: There are none.
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ANNUAL ACCOUNTS AND RESERVES POLICY 2021-22
This document includes all funds held by the Circuit Meeting as trustees of the St Austell Methodist Circuit charity, charity number 1141712.
1. Aims
The aim of the Circuit is twofold:
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To secure the Circuit’s viability and future work
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To give reassurance to the general public that the Circuit intends to use all of its resources for the purpose of the Charity
2. Mission Policy
The Circuit’s Mission Statement is set out in a document accepted by the Circuit Meeting in March 2019, accompanied by a Circuit Mission Strategy, currently under review. Essentially it provides for
a] Ministerial oversight and pastoral care of the 20 churches in the Circuit
b] the support of a Ministry team of 2 presbyter Ministers and 5 part-time lay workers
c] the maintenance of 5 Circuit manses
This policy has been modified due to the impact of Covid 19 and change of staff.
3. Financial Review
a) Unrestricted income
The Circuit assessment is reviewed annually and is intended to cover the cost of the policy above; the assessment is based on proportionate church membership and attendance. Total general fund unrestricted incoming resources totalled £206,323 (£258,914) and outgoings totalling £245,910 (£268,339), with a deficit over the year of £39,587 (£9,425).
We normally make provision for our property maintenance programme by designating up to £20,000 per annum.
The Circuit funds (unrestricted general funds) balance at 31 August 2022 was £1,181,984 (£1,186,571). Almost all of the balance is the value of the manses.
Under Standing Orders, the Circuit must meet its financial obligations in relation to the support of its Ministers and the maintenance of its manses, the total cost of these obligations last year was £104,353 (£126,029).
The audited Standard Form of Accounts, the statement of account for the Circuit and the Children’s Work account are available for inspection at the Circuit Meetings and at any other time by appointment.
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b) The Circuit Trust Fund
The Circuit Trust Fund (CTF - formerly known as the Advance Fund) No. 9941 is the main fund with a balance at the year end of £279,200 (£366,611: 2021). The reserve fund (9941A) held £35,746 (£35,680: 2021).
This fund derives from the sale of chapels and manses and is restricted by Conference. This restriction is an internal regulation although the fund can be used for a variety of purposes.
The Circuit also holds other trust funds which amounted to £66,310 at the year end (£42,391: 2021). The total of all the trust funds was £381,256 (£468,643: 2021).
The Charity Commission has agreed that it is appropriate for the Trustees to set a policy for the management of the CTF, and this is set as follows: Money held in the Circuit Trust Fund has been ear marked by the Trustees for the following purposes:
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£30,000 for District Advance Fund levy [to be confirmed]
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£100,000 Request from Bugle Methodist Church for a grant.
Total £130,000, with any remaining balance in hand to be held as a general contingency reserve.
The reports and reserves policy was agreed by the St Austell Methodist Circuit Trustees meeting on 16 March 2023
Signed: ……………………………………………………….
Rev Paul Benney, Chair
On behalf of the St Austell Methodist Circuit
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St Austell Methodist Circuit Circuit No. 1141712
Statement of Financial Activities (SOFA) for the year ended 31 August 2022
| Notes Income Capital receipt 4 Donations and legacies Income from monetary investments Assessments on Churches Grants received Other charitable income 5 Total income Expenditure Grants and donations 6 Salaries and associated stipend costs 7 Property maintenance and rental expenses Connexional assessment and model trust levy District assessment and levy Depreciation Office expenses Redundant chapel costs Other outgoings 10 Total charitable expenditure Net income/(expenditure) before investment gains/losses Gains/(losses) on monetary investments Net income/(expenditure) Reclassification of funds Net movement in funds Total funds brought forward Total funds carried forward |
General Fund (unrestricted) Circuit Model Trust (unrestricted) Restricted Funds Total 2021-22 £ £ £ £ - - - - 800 - 86 886 78 1,991 - 2,069 180,000 - - 180,000 - - 300 300 25,445 - - 25,445 |
|---|---|
| 206,323 1,991 386 208,700 |
|
| 1,950 - - 1,950 121,488 - - 121,488 21,718 - - 21,718 41,276 18,746 - - 60,022 11,004 - - 11,004 100 - - 100 6,864 - - 6,864 9,268 - - 9,268 34,431 1,336 973 34,551 |
|
| 245,910 20,082 973 266,965 |
|
| (39,587) (18,091) (587) (58,265) - (313) - (313) |
|
| (39,587) (18,404) (587) (58,578) 35,000 (35,000) - - |
|
| (4,587) (53,404) (587) (58,578) |
|
| 1,186,571 476,157 2,508 1,665,236 1,181,984 422,753 1,921 1,606,658 |
St Austell Methodist Circuit Circuit No. 1141712
Statement of Financial Activities (SOFA) for the year ended 31 August 2021
| Notes Income Capital receipt 4 Donations and legacies Income from monetary investments Assessments on Churches Grants received Other charitable income 5 Total income Expenditure Grants and donations 6 Salaries and associated stipend costs 7 Property maintenance and rental expenses Connexional assessment and model trust levy District assessment and levy Depreciation Office expenses Redundant chapel costs Other outgoings 10 Total charitable expenditure Net income/(expenditure) before investment gains/losses Gains/(losses) on monetary investments Net gain on property disposal Net income/(expenditure) Reclassification of funds Net movement in funds Total funds brought forward Total funds carried forward |
General Fund (unrestricted) Circuit Model Trust (unrestricted) Restricted Funds Total 2020-21 £ £ £ £ - 173,815 - 173,815 - - - - 38 989 - 1,027 226,481 - - 226,481 1,672 - - 1,672 30,723 - - 30,723 |
|---|---|
| 258,914 174,804 - 433,718 |
|
| 1,388 - - 1,388 149,460 - - 149,460 7,381 - - 7,381 43,940 8,767 - 52,707 11,304 - - 11,304 201 - - 201 12,105 - - 12,105 17,324 - - 17,324 25,236 568 131 25,935 |
|
| 268,339 9,335 131 277,805 |
|
| (9,425) 165,469 (131) 155,913 - 773 - 773 116,359 - - 116,359 |
|
| 106,934 166,242 (131) 273,045 (256,359) - - (256,359) |
|
| (149,425) 166,242 (131) 16,686 |
|
| 1,335,996 309,915 2,639 1,648,550 1,186,571 476,157 2,508 1,665,236 |
St Austell Methodist Circuit Circuit No. 1141712
Balance Sheet as at 31 August 2022
| Notes | General Funds | Circuit Model | Restricted | Total | Total | |
|---|---|---|---|---|---|---|
| (unrestricted) | Trusts | Funds | 2022 | 2021 | ||
| (unrestricted) | ||||||
| £ | £ | £ | £ | £ | ||
| Fixed Assets | ||||||
| Circuit manses and equipment | 12 | 1,085,760 | 17,500 | - | 1,103,260 | 1,103,360 |
| Investments properties | 12 | 80,000 | - | - | 80,000 | 80,000 |
| Investment | 13/14 | - | 38,623 | - | 38,623 | 4,986 |
| Total fixed assets | 1,165,760 | 56,123 | - | 1,221,883 | 1,188,346 | |
| Current Assets | ||||||
| Debtors | 15 | 11,839 | - | - | 11,839 | 11,535 |
| Loans by the Circuit | - | |||||
| Investments with TMCP | 13/14 | - | 376,615 | - | 376,615 | 463,656 |
| Central Finance Board Deposits | 9,169 | - | - | 9,169 | 10,631 | |
| Cash at bank and in hand | 36,758 | - | 1,921 | 38,679 | 47,259 | |
| Total current assets | 57,766 | 376,615 | 1,921 | 436,302 | 533,081 | |
| Current liabilities | ||||||
| Creditors (due in under 1 year) | 16 | 41,542 | 9,985 | - | 51,527 | 56,191 |
| Total current liabilities | 41,542 | 9,985 | - | 51,527 | 56,191 | |
| Net current assets | 16,224 | 366,630 | 1,921 | 384,775 | 476,890 | |
| Net assets | 1,181,984 | 422,753 | 1,921 | 1,606,658 | 1,665,236 | |
| Funds of the Circuit | ||||||
| General Fund (unrestricted) | 17 | 1,181,984 | - | - | 1,181,984 | 1,186,571 |
| Circuit Model Trust Fund | - | 422,753 | - | 422,753 | 476,157 | |
| (unrestricted) | 17 | |||||
| Total Unrestricted Funds | 1,181,984 | 422,753 | - | 1,604,737 | 1,662,728 | |
| Restricted Funds | 18 | - | - | 1,921 | 1,921 | 2,508 |
| Total Funds | 1,181,984 | 422,753 | 1,921 | 1,606,658 | 1,665,236 |
Approved by the board of trustees on……………………………… signed and authorised for issue on the: ………………………..
………………………………………………………………..
Rev Paul Benney
St Austell Methodist Circuit Circuit No. 1141712
Notes to the Accounts
1 Basis of accounting
The financial statements have been prepared under the Charities Act 2011 and in accordance with the 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 (FRS102) (as amended for accounting periods commencing from 1 January 2016) – the Charities SORP (FRS102) and taking note of the Update Bulletin 1 issued in 2016.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for Charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The Circuit meets the definition of a public benefit entity under FRS 102.
The Circuit has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flow.
Based on the monetary assets and human resources available at the year end, the trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. Whilst Covid 19 has continued to have a social impact the Charity remains operational, generating increased income and retaining sufficient funds.
The Circuit has denominational regulatory oversight in respect of the work of the churches within the Circuit but has no legal or operational control of those churches and their governing bodies. For this reason, the financial statements of churches within the Circuit are not consolidated into these statements.
2 Funds
The funds held constitute:
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General Funds held for any purpose of the Circuit which are Unrestricted.
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The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted.
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Restricted funds which are held for a narrower purpose.
There are no Endowment funds. Details of each material fund are disclosed in notes 17 and 18 to these accounts. Any funds may be represented by more than just cash.
3 Accounting policies
Basis
These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. The accruals basis has been used and the trustees present accounts that show a true and fair view of the Circuit’s financial position and activities.
The accounts are expressed in £ Sterling, rounded to the nearest pound.
Incoming Resources
Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.
In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised. If goods are donated, a value will be shown in the SOFA or notes where the value is considered material.
Resources Expended
This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.
St Austell Methodist Circuit Circuit No. 1141712
Grants
Grants made by the Circuit from its own funds are recognised in full at the time of agreement to make a grant without performance conditions or as and when the Circuit accepts that there is a legal or operational obligation to make the payment.
VAT
Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.
Tangible fixed assets for use by the Circuit
Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £1,000. The freehold property is shown in the accounts at deemed historical cost representing each property’s gross carrying value at 1 September 2015. No depreciation is provided on the building because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The property has been reviewed for impairment.
Depreciation is provided on fixtures, fittings and equipment at a rate of 25% on the reducing balance method, calculated to write off the cost over their expected economic life.
Investment Properties
From time to time the Circuit may be required to assume responsibility for church premises following closure and cessation of worship. This results in the Circuit becoming Managing Trustees for the property. At that time the property is recognised as an asset at its anticipated net sale price as determined by a professional valuation and after taking into consideration the levy to be charged by the Connexion. Any expenditure on such assets, if held for reinvestment of the proceeds, as the trustees determine, that is likely to enhance sale value is capitalised at the time the expenditure is incurred. There is only one property currently deemed to not be held for the long term purposes of the charity.
Investments
The Circuit’s investments are in monetary assets classified as basic financial instruments under FRS 102. Investments are valued in the balance sheet at market value at the year end, which are provided by TMCP. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA. All cash balances are shown in cash and short term deposits.
Debtors and Prepayments
Debtors are stated at the amounts owed to the Circuit or prepaid. They mainly include prepaid stipends.
Financial Instruments
The Circuit 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.
Creditors
Creditors are initially recognised at settlement amount after any trade discounts. Creditors include both sundry expenses and specifically the 1st quarter assessment received in August for the following financial year.
Pensions
The Circuit operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the Statement of Financial Activities in the period they are payable.
St Austell Methodist Circuit Circuit No. 1141712
4 Capital receipts
| General £ Sale proceeds (manse) - CPF Levy on property sales - Total - 5 Other charitable income General £ Letting income 19,210 Liturgical fees 6,225 Photocopying - Other income 10 Total 25,445 6 Analysis of grant expenditure General £ Local Methodist churches - Local support groups 1,200 Church Mission Society 750 Donations - Total 1,950 |
CMTF £ - - - CMTF £ - - - - - CMTF £ - - - - - |
Restricted £ - - - Restricted £ - - - - - Restricted £ - - - - - |
Total 2021/22 £ - - - Total 2021/22 £ 19,210 6,225 - 10 25,445 Total 2021/22 £ - 1,200 750 - 1,950 |
Total 2020/21 £ 256,359 (82,544) 173,815 Total 2020/21 £ 27,947 2,760 - 16 |
|---|---|---|---|---|
| 30,723 | ||||
| Total 2020/21 £ - 1,200 188 - 1,388 |
Grants were made to local Methodist churches to help fund the cost of repairs, equipment and training.
7 Paid employees
| Staff Costs paid during the year were: Gross wages, salaries and benefits in kind Pension costs Total staff costs Average number of employees in the year were: No employees received employee benefits of more than £60,000. |
2021/22 £ 30,314 1,140 31,454 4 |
2020/21 £ 26,701 891 |
|---|---|---|
| 27,592 | ||
| 4 |
St Austell Methodist Circuit Circuit No. 1141712
8 Payment to Trustees
Payments were made to one trustee (2021: one trustee) for additional services provided to the Circuit (manse and property steward, equipment hire, layworker and consultant) by agreement with the Circuit Meeting. A summary of these payments has been included in note 23.
| 2021/22 | 2020/21 | |
|---|---|---|
| Total amount paid | £15,760 | £12,333 |
| Trustee expenses | ||
| 2021/22 | 2020/21 | |
| Number of Trustees | 4 | 4 |
| Total amount | £5,127 | £2,602 |
Expense payments primarily relate to reimbursement for travel, subsistence, postage, stationery and steward’s expenses.
The ministers (who are trustees) are paid stipends and travel expenses at rates agreed annually by the Methodist Conference. Stipends were paid to two ministers amounting to £73,683 in the year (2021: £109,110 for three ministers). Travel costs paid to the ministers amounted to £2,638 (2021: £1,138). These are also included in the amounts paid to Trustees for expenses above. The Manses are provided by the Circuit and the Circuit maintains the property. With the exception of the let manses, the Circuit is responsible for payment of council tax, utilities, water charges and insurance (included in note 10).
Four (2021: Five) trustees were paid remuneration or have received other benefits from an employment with the charity. These payments have been made under authority of the Charity Commission and can be summarised as follows:
| 2021/22 | 2021/22 | 2020/21 | 2020/21 | ||
|---|---|---|---|---|---|
| Trustee | Reason for payment | Amount | Pension | Amount | Pension |
| paid | costs | paid | costs | ||
| £ | £ | £ | £ | ||
| Mrs C Thornton | Layworker | 5,078 | - | 4,879 | - |
| Mrs D Eade | Layworker | 12,697 | 745 | 9,759 | 584 |
| Mrs K Reynolds | Layworker | 6,602 | 395 | 5,250 | 307 |
| Mrs S Battison | Children’s worker | - | - | 1,934 | - |
| Mrs C Baines | Layworker | 5,079 | - | 4,879 | - |
| 30,314 | 1,140 | 26,701 | 891 |
The members do not take part in any discussion on the terms and conditions of their employment. The members of the CLT, who consists of the ministers, the layworkers, Circuit administrator and the unpaid Circuit stewards are considered as Key Management Personnel. The remuneration paid to them has been disclosed in note 8 above.
St Austell Methodist Circuit Circuit No. 1141712
9 Fees for examination or audit of the accounts
| s for examination or audit of the accounts | ||
|---|---|---|
| Independent examiner’s or auditors' fees for reporting on the accounts Other fees (eg: advice, accountancy services) paid to the independent examiner |
2021/22 £ 900 3,300 |
2020/21 £ |
| 900 | 880 | |
| 3,300 | 3,200 |
10 Other outgoings
| Travel expenses Manse insurance and utilities Quinquennial inspections Resource Centre Professional fees Investment administration charge Other expenses Total |
General £ 4,571 10,587 3,175 1,905 5,786 - 6,218 32,242 |
CMTF £ - - - - - 1,216 - 1,216 |
Restricted £ - - - - - - 973 973 |
Total 2021/22 £ 4,571 10,587 3,175 1,905 5,786 1,216 7,191 34,431 |
Total 2020/21 £ 1,265 11,540 2,338 1,812 4,552 568 3,729 |
|---|---|---|---|---|---|
| 25,804 |
11 Reclassification of funds
Circuit property is always carried in the General Fund but upon sale the net proceeds are processed through the Circuit Model Trust Fund. This requires an adjustment and such sales during the year are reflected at the gross sale price (less selling costs) in note 4. There were no manses sold in the year end 31[st] August 2022.
St Austell Methodist Circuit Circuit No. 1141712
12 Tangible Fixed Assets Cost or valuation
| Freehold Manses |
Fixtures, fittings and equipment |
Total | Investment properties |
||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Balance brought forward | 1,102,958 | 28,793 | 1131,751 | 80,000 | |
| Additions | - | - | - | - | |
| Disposals | - | - | - | - | |
| Balance carriedforward | 1,102,958 | 28,793 | 1,131,751 | 80,000 |
Accumulated depreciation
| Balance brought forward | - | 28,391 | 28,391 | - | |
|---|---|---|---|---|---|
| Depreciation charge for year | - | 100 | 100 | - | |
| Balance carried forward | - | 28,491 | 28,491 | - |
| Net book value | 1,103,360 1,103,260 |
|||
|---|---|---|---|---|
| Brought forward | 1,102,958 | 402 | 1,103,360 | 80,000 |
| Carriedforward | 1,102,958 | 302 | 1,103,260 | 80,000 |
The comparable carrying amount of the freehold manses on an historical cost basis would be £709,363 at the year end (2021: £709,363).
13 Investment assets
Investment properties, shown in Note 12, are recognised at their anticipated net sale price as determined by a professional valuation and after taking into consideration the levy to be charged by the connexion.
The funds that support the Circuit Model Trust Fund and the Manses Fund are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month. These are regarded as medium and long term investments.
TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, though providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.
| Analysis of investments CFB Managed Mixed Fund Trustees Interest Fund |
2021/22 £ 2020/21 £ 38,623 4,986 376,615 463,656 |
|---|---|
St Austell Methodist Circuit Circuit No. 1141712
14 Financial instruments
| Carrying amount of financial assets Debt instruments measured at amortised cost Instruments measured at fair value through the SOFA Carrying amount of financial liabilities Measured at amortised cost 15 Debtors Prepayments Stipends Total 16 Creditors Trade creditors Accruals Deferred income Money due to Carne Hill Total Deferred income Balance at 1stSeptember 2021 Deferred in the year Released in the year Balance at 31stAugust 2022 |
2021/22 £ - 415,136 1,906 2021/22 £ 11,839 11,839 2021/22 £ 1,906 4,200 35,436 9,985 51,527 £ 41,748 35,436 (41,478) 35,436 |
2020/21 £ - 468,643 |
|---|---|---|
| 378 | ||
| 2020/21 £ 11,535 |
||
| 11,535 | ||
| 2020/21 £ 378 4,080 41,748 9,985 |
||
| 56,191 | ||
Deferred income comprises of the 1[st] quarter assessment received in August, which related to the year ended 31[st] August 2022
St Austell Methodist Circuit Circuit No. 1141712
17 Analysis of unrestricted 2021-22
| Unrestricted Fund Name |
Opening Balance |
Incoming Resources |
Resources Expended |
Transfers | Gains (Losses) |
Closing Balance |
Purpose of the fund |
|---|---|---|---|---|---|---|---|
| General Fund | 1,186,571 | 206,323 | (245,910) | 35,000 | - | 1,181,984 | For use in the furtherance of the general objectives ofthe Circuit |
| Circuit Model TrustFund |
476,157 | 1,991 | (20,082) | (35,000) | (313) | 422,753 | As above |
| Totals | |||||||
| 1,662,728 | 208,314 | (265,992) | - | (313) | 1,604,737 |
````Comparative analysis of unrestricted 2020-2021
| Unrestricted Fund Name |
Opening Balance |
Incoming Resources |
Resources Expended |
Transfers | Gains (Losses) |
Closing Balance |
Purpose of the fund |
|---|---|---|---|---|---|---|---|
| General Fund | 1,335,996 | 258,914 | (268,339) | (256,359) | 116,359 | 1,186,571 | For use in the furtherance of the general objectives of the Circuit |
| Circuit Model Trust Fund |
309,915 | 174,804 | (9,335) | - | 773 | 476,157 | As above |
| Totals | |||||||
| 1,645,911 | 433,718 | (277,674) | (256,359) | 117,132 | 1,662,728 |
St Austell Methodist Circuit Circuit No. 1141712
18 Analysis of restricted funds 2021-22
| Restricted Fund Name |
Opening Balance |
Incoming Resources |
Resources Expended |
Transfers | Closing Balance |
Purpose of the fund |
|---|---|---|---|---|---|---|
| Youth Fund | 1,139 | - | - | - | 1,139 | Development and implementation of work with young people in the St Austell Circuit |
| Childrens Work Fund |
1,362 | 386 | 973 | - | 775 | Development and implementation of work with children in the St Austell Circuit |
| LP | 3 | - | - | - | 3 | Development and training of local preachers and worship leaders in the St Austell Circuit |
| Easter Musical Account |
4 | - | - | - | 4 | Donations collected to pay for the Easter musical and proceeds donated to Christian Aid |
| Totals | 2,508 | 386 | 973 | - | 1,921 |
St Austell Methodist Circuit Circuit No. 1141712
````Comparative analysis of restricted and endowment funds 2020-2021
| Restricted Fund Name |
Opening Balance |
Incoming Resources |
Resources Expended |
Transfers | Closing Balance |
Purpose of the fund |
|---|---|---|---|---|---|---|
| Youth Fund | 1,139 | - | - | - | 1,139 | Development and implementation of work with young people in the St Austell Circuit |
| Childrens Work Fund |
1,439 | - | 131 | - | 1,362 | Development and implementation of work with children in the St Austell Circuit |
| LP | 3 | - | - | - | 3 | Development and training of local preachers and worship leaders in the St Austell Circuit |
| Easter Musical Account |
4 | - | - | - | 4 | Donations collected to pay for the Easter musical and proceeds donated to Christian Aid |
| Totals | 2,639 | - | 131 | - | 2,508 |
19 Capital commitments and contingent liabilities
At 31[st] August 2022 there were no capital commitments or contingent liabilities.
20 Financial commitments
At 31[st] August 2019, the Circuit had agreed to assist in funding a project at a church within the Circuit, which could amount to £50,000. £17,500 was paid during the year ended 31[st] August 2020. During the year ended 31 August 2021, the circuit agreed to increase the funding for the project to £100,000. This remains in place at 31[st] August 2022. The project is expected to commence in 2023.
21 Operating lease commitments
At 31[st] August 2021, the Circuit had outstanding commitments for future minimum lease payments under noncancellable operating leases amounting to £1,438 until October 2023 (2021: £2,158).
The total lease payments included in the expenses were £720 (2021: £720).
St Austell Methodist Circuit Circuit No. 1141712
22 Voluntary contributions
The Circuit is heavily reliant on volunteers who contribute their skills and time in the furtherance of the work of the Circuit. The principal contribution is by serving on committees of the Circuit that deal with mission, manses, finance, grants and safeguarding. We are grateful to all of them for their help and commitment. No attempt has been made by this Circuit to value the non-monetary contributions to the Circuit in monetary terms.
23 Related party transactions
| This year – 2021/22 Name of related party Relationship Description of transaction Mr W J Keast Trustee Layworker & consultancy Last year – 2020/21 Name of related party Relationship Description of transaction Mr W J Keast Trustee Layworker & consultancy |
Payments to related party during the year Amounts owed to related party as on 31 August 2022 £ £ 15,760 - |
|---|---|
| Payments to related party during the year Amounts owed to related party as on 31 August 2021 £ £ 12,333 - |
Independent Examinerfs Statement The Circuit's gross income exfxded £250.000 and l am qualified to undertake the examination by being a qualified member of Institute of Chartered Accountants England & Wales. I have completed my examination. I confinn that no material matters have come to my aétention in connection with the examination which gtve me (USe to believe that in. any material reSpTr,. the accounting records were not kept in accordance with section 130 of the Act; or the accounts do not accord with the accounting records" or the accounts do not comply with the applicab requirements conMing the form ar)d content of accounts set out in the Charities (Ac(x)unts and Reports) Regulations 2008 other than any requirement that the accounts give a Yrue and fairf view. which is not a matter considered as part of an independent examination the trustees, annual report is not consistent with the accounts I have no concems and have cotne 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. I have obtained independent vertfication of all invesbnents with the Trustees for Methodist Church Purposes or held in other trusts, bank balanS and funds at the Central Finan Board of the Methodist Church which are individually in eXsS of £10,000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Name of independent examiner: ......Amy Sole FCA..... Relevant professional qualification of independent examiner: ..Chartered accountant .. Name of fimi (where appropriate): ...Phillips Frith LLP.-....... Address: 9 Tregarne Terrac< StAustell. Comwall... Post C(Kle". PL25 4DD Date: 03.-2013...