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2020-08-31-accounts

Active Circuit Active Circuit Ministers: Ministers: Rev Jenny Dyer (Superintendent) Rev Jenny Dyer (Superintendent)
Rev Neil Draper
Rev Colin Emerson
Rev Darren
Howie
Rev Greg Obong-Oshotse
Rev David Owen
Rev Gill Sharp
Rev Dr Gary Watt
Circuit Lay Employees: Mrs Jo Howie
Mrs Judith
Neal
Mrs Mairi Radcliffe
Circuit Stewards: Mrs Christina
Achu
Mrs Hilary Jones
Mr John McCartney
Mr Pete Nelson
Mr Phil Royle
Administrator: Mrs Angela
Davies (resigned 6.11.19)
Mrs Fiona Riley-Schnoor (from 6.1,20)
Mrs Ying Qian
Mr Alan Castledine acted as the principal
officer overseeing		 the day to day financial management and
accounting for the Circuit during the year.
independent auditor: Diane Lockwood, Haines Watts, 10Stadium Business Court,
Millennium
Way, Pride Park, Derby, DE24		 8HP.
Investment Bankers: Trustees for Methodist
Church purposes
Bankers: Central Finance Board of the Methodist Church
HSBC Bank pic
CAF Bank Ltd

Restricted &Endowment
Unrestricted Funds Funds
Circuit
Model Total Total
General Trust Designated Restricted Endowment 2020 2019
Note E
s
Incoming Resources
Income from Monetary
Investments 793 5,172 179 2,328 3,336 11,808 13,380
Income from
Investment
Properties		 18,540 18,540 18,540
Assessments
on
Churches 2 428,966 428,966 354,929
Grants Received 3 8,000 8,000 21,900
Other Income 4 41,373 1,399 100,265 143,037 24,073
Total Incoming
Resources 479,132 5,172 20,118 102,593 3,336 610,351 432,822
Expenditure
Grants and Donations 1,050 29,610 277 47,193 78,130 21,567
Salaries and
Associated Costs 332,339 136 332,475 291,504
Property Expenses 30,456 19,780 50,236 66,375
District and
Connexlonal
Levies		 87,856 1,697 89,553 91,427
Office Expenses 7,185 7,185 6,485
Other Outgoings 9,647 136 53 10,036 11,694
Total Expenditure 468,533 31,443 20,246 47,393 567,615 489,052
Net Income Before
Investment
Gains/(Losses) 10,599 (26,271) (128) 55,200 3,336 42,736 (56,230)
Gains/(Losses)
on
Monetary
Investments		 (3) (1,118) (3,435) (4,555) 1,635
Gains/(Losses)
on
Investment
Properties		 (900,000)
Net Incoming/
(Outgoing)
Resources
Before Transfers 10,596 (26,271) (127) 54,082 (99) 38,181 (954,595)
Transfers
Between Funds (38,664) 9,000 33,000 (3,336)
Net Movements
in Funds (28,068) (17,271) 32,873 54,082 (3,435) 38,181 (954,595)
Reconciliation of Funds
Total Funds
Brought Fonvard 2,909,543 67,882 57,246 124,116 121,195 3,279,982 4,234,577
Total Funds
Carried Forward 18 2,881,475 50,611 90,119 178,198 117,760 3,318,163 3,279,982
Restricted &Endowment
Unrestricted Funds Funds
Circuit
Model Total Total
General Trust Designated Restricted Endowment 2020 2019
Notes E
Fixed Assets
Circuit Manses etc 10 2,686,670 2,686,670 2,686,670
Investments 11 19,249 85,124 117,60 222,133 258,670
Total Fixed Assets 2,686,670 19,249 85,124 117,760 2,908,803 2,945,340
Current Assets
Investment
Properties		 10 87,500 87,500 87,500
Debtors 12 23,250 1,390 24,640 23,812
Outstanding
Purchase Price 12a 110,000 110,000 125,000
Trustees for Methodist
Church Purposes 50,611 91,189 141,800 67,882
Central Finance
Board Deposits 13 92,849 69,480 1,885 164,214 169,747
Cash at Bank
and In Hand 13 38,831 38,831 22,946
Total Current Assets 352,430 50,611 70,870 93,074 566,985 496,887
Creditors
Due In Under
One Year 14 157,625 157,625 162,245
Net Current
Assets/(Liabilities) 194,805 50,611 70,870 93,074 409,360 334,642
Net Assets 2,881,475 50,611 90,119 178,198 117,760 3,318,163 3,279,982
Funds ofthe Circuit
General
Funds
(Unrestricted) 2,881,475 2,881,475 2,909,543
Circuit Model Trust
Fund (Unrestricted) 50,611 50,611 67,882
Designated
Funds
(Unrestricted) 90,119 90,119 57,246
Total
Unrestricted
Funds		 16 3,881,475 50,611 90,119 3,022,205 3,034,671
Restricted
Funds		 17 178,198 178,198 124,116
Endowment
Fund		 17 117,760 117,760 121,195
Total Funds 2,881,475 50,611 90,119 178,198 117,760 3,318,163 3,279,982
2020 2019
Note E E
Cash used in operating
activities		 24 53,922 (60,479)
Cash flows from investing activities
Dividends,
interest and rents from investments		 30,348 31,920
Net cash provided
by/(used		 in) investing activities 30,348 31,920
Increase/(decrease)
in cash		 and equivalents in the year 84,270 (28,559)
Cash and cash equivalents brought
forward		 260,575 289,134
Cash and cash equivalents carried forward 344,845 260,575
Cash and cash equivalents consist of:
Cash at bank and in hand 344,845 260,575

.
Grants Receivable
2020 2019
f
Towards costs ofChinese Ministry
District 7,900
Hong Kong Methodist Church 2,000 2,000
Chinese congregation 6,000 12,000
8,000 21,900

.
Other Income
2020 2019
E f
Funding for Susanna Wesley House 37,458 16,482
Recovered insurance premiums 494 490
Contribution
towards		 salary costs 3,587
Miscellaneous 3,421 1,805
Unrestricted
Total		 41,373 22,364
Designated —Susanna Wesley House Fund 1,399 100
Restricted —Benevolent
Fund		 1,609
Borrowash
House Fund		 100,265

General Designated Total 2019
E f E E
Stipends 229,652 229,652 190,524
National Insurance Contributions 19,620 19,620 17,267
Pension Fund Contributions 52,769 52,769 42,558
Telephone 5,083 5,083 5,943
Travelling 5,956 136 6,092 6,099
Removal and Relocation Costs 6,263
313,080 136 313,216 268,654

General Designated Total 2019
f E E f
Salary 17,559 17,559 18,898
National Insurance Contributions 910 910 1,435
Pension Fund Contributions 735 735 1,134
Travel 55 55 1,383
19,259 19,259 22,850
Stipends and Salaries totals 332,339 136 332,475 291,504

Expenditure
o		 n Manses
General Designated Total 2019
E E f
Council Tax 15,556 15,556 10,300
Water rates 3,981 3,981 4,724
Insurance 6,517 6,517 6,704
Maintenance 16,386 16,386 31,574
Furnishings 1,184 1,184 4,223
26,054 17,570 43,624 57,525
Letting Expenses
Agents' charges 2,002 2,002 1,911
Other Property Expenses
General Designated Total 2019
E f f f
Circuit Office Rent 1,040
Quinquennial Reports 2,210 2,210 3,469
Sports Ground Fees 2,400 2,400 600
Chester Green Fees 1,830
2,400 2,210 4,610 6,939
Property Totals 30,456 19,780 50,236 66,375

General CMTF Total 2019
f f f f
District Expenses 10,656 10,656 10,866
Methodist Church Fund 77,200 77,200 78,522
Levy on CMTF Funds 1,697 1,697 2,039
87,856 1,697 89,553 91,427
. Office Expenses
General Total 2019
f f f
Stationery and Postages 3,613 3,613 2,886
Office Telephone 272 272 329
Audit Fee 3,300 3,300 3,270
7,185 7,185 6,485
. Other Expenses
General CMTF Designated Restricted Total 2019
Preaching Fees
&Travel 757 757 1,990
TMCP Charges 136 200 336 163
Training Costs 53 53 248
Recoverable
Insurance
Premiums 494 494 490
Miscellaneous 8,396 8,396 8,803
9,647 136 53 10,036 11,694

Other
Land Manses Buildings Total
f f f
Balance Brought Forward 200,000 2,248,835 237,835 2,686,670
Additions
Disposals
Balance Carried Forward 200,000 2,248,835 237,835 2,686,670
Investment
Properties
(included as		 current assets as properties are to be sold)
Balance Brought Forward 87,500 87,500
Additions
Disposals
87,500 87,500
11.
Investment
Assets
The funds that support the Circuit Model Trust Fund and the Circuit's other funds are held by TMCP in Trustees
Interest
and/or
Managed		 Equity Funds on which interest and dividends are credited
to the		 accounts
each
month/quarter.
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,
through		 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.
2020 2019
f f
Market Value Brought Forward 258,670 257,038
Net Gain/Loss
on Revaluation		 (4,555) 1,632
Disposal during the year (31,982)
Market Value Carried Forward 222,133 258,670
Investments
at fair value comprise:
CFB Managed
Mixed Fund		 151,791 186,882
Royal Bank ofScotland pic 1,461 2,409
Trustees Interest
Fund		 68,881 69,379
222,133 258,670

Designated Funds Restricted Funds Endowment Funds
2020 2019 2020 2019 2020 2019
E E E E E E
Market Value
Brought Forward 19,249 19,249 118,226 117,321 121,195 120,468
Net Gain/(Loss)
on Revaluation (1,114) 905 (3,435) 727
Disposal during the year (31,988
Market Value
Carried Forward 19,249 19,249 85,124 118,226 117,760 121,195
CFB Managed
Mixed Fund 41,125 74,228 110,666 112,654
Royal Bank of
scotland
pic		 1,461 2,409
Trustees
Interest
Fund		 19,249 19,249 43,999 43,996 5,633 6,132
19,249 19,249 85,124 118,224 117,760 121,195

General Designated Restricted Total 2019
E f f f E
Central Finance Board 92,849 69,480 1,885 164,214 169,747
HSBC Bank pic 34,465 34,465 22,846
CAF Bank Ltd 4,167 4,167
Cash 199 199
131,680 69,480 1,885 203,045 192,693

General Designated Total 2019
f E f f.
Income In Advance
Assessments in Advance 99,391 99,391 103,754
Grant in Advance 4,180 4,180
Creditors and Accruals
Ministers' Expenses 966 966 2,380
Audit Fee 3,300 3,300 3,150
CPF Levy 44,000 44,000 50,000
Others 5,788 5,788 2,961
157,625 157,625 162,245

&.
Summary o		 f Fund Movements
Balance at Gains/ Balance at
1.9.2019 Income Expenditure Transfers (Losses) 31.8.2020
E E E E E E
General 2,909,543 479,132 468,533 (38,664) (3) 2,881,475
Circuit Model Trust 67,882 5,172 31,443 9,000 50,611
Total Unrestricted
&Undesignated 2,977,425 484,304 499,976 (29,664) (3) 2,932,086
Susanna Wesley
House 100 1,399 1,499
Manses 11,732 18,540 17,568 28,000 40,704
Removal &
Relocation (2,315) 3,500 1,185
Quinquennial (1,486) 2,210 1,500 (2,196)
Prison 278 136 142
Training 5,889 179 332 1 5,737
Dunkirk 23,799 23,799
Greenhill
Bursary		 19,249 19,249
Total Designated 57,246 20,118 20,246 33,000 1 90,119
Total Unrestricted 3,034,671 504,422 520,222 3,336 (2) 3,022,205
Benevolent 419 419
Borrowash
House		 101,125 9,936 91,189
Queen's
Hall		 79,698 1,468 37,457 (1,118) 42,591
Bequests 43,999 43,999
Total Restricted 124,116 102,593 47,393 1,118 178,198
Bequests 121,195 3,336 (3,336) (3,435) 117,760
Total Restricted
&Endowment 245,311 105,929 47,393 3,336) (4,553) 295,958
Total ofAll Funds 3,279,982 610,351 567,615 (4,555) 3,318,163

General CMTF Designated Restricted Endowment Total 2019
Tangible Fixed Assets 2,686,670 2,686,670 2,686,670
Fixed Asset
Investments 19,249 85,124 117,760 222,133 258,670
Current Assets 352,430 50,611 70,867 93,077 566,985 496,887
Current Liabilities (157,625) (157,625 162,245)
2,881,475 50,611 90,116 178,201 117,760 3,318,163 3,279,982
Fund balance at 31August 2019are represented by:
General CMTF Designated Restricted Endowment Total 2018
Tangible Fixed Assets 2,686,670 2,686,670 3,586,670
Fixed Asset
Investments 19,249 118,226 121,985 258,670 257,038
Current Assets 382,624 67,882 40,491 5,890 496,887 548,179
Current Liabilities 159,751) 2,494) (162,245) (157'310)
2,909,543 67,882 57,246 124,116 121,195 3,279,982 4,234,577

24.
Reconciliation
of Net		 24.
Reconciliation
of Net		 Income to Net Cash Flow from Operating Activities
2020 2019
E E
Net Income/(Expenditure) Before Transfers 38,183 (954,595)
Add Loss(Deduct Gains) on Investments 4,553 (1,635)
Add Loss (Deduct Gain) on Investment Property 900,000
Add Cash from sale ofinvestments 31,982
Deduct Dividends,
Interest		 and Rents from Investments (30,348) (31,920)
Decrease/(Increase)
in Debtors		 14,172 22,736
Increase/(Decrease)
in Creditors		 (4,620) 4,935
Net Cash Used in Operating Activities 53,922 (60,479)

Circuit
Model Total
General Trust Designated Restricted Endowment 2019
incoming Resources
Income from
Monetary
Investments		 949 6,187 165 2,206 3,873 13,380
Income from
Investment
Properties		 18,540 18,540
Assessments
on Churches 354,929 354,929
Grants Received 21,900 21,900
Other Income 22,364 1,609 24,073
Total Incoming Resources 400,142 6,187 18,805 3,815 3,873 432,822
Expenditure
Grants and Donations 262 19,665 140 1,500 21,567
Salaries and
Associated Costs 284,862 6,642 291,504
Property
Expenses		 27,109 39,266 66,375
District &Connexlal Levies 89,388 2,039 91,427
Office Expenses 6,485 6,485
Other Outgoings 11,283 163 248 11,694
Total Expenditure 419,389 21,867 46,296 1,500 489,052
Netlncome
Before
Investment
Gains/(Losses)		 (19,247) (15,680) (27,491) 2,315 3,873 (56,230)
Gains/ (losses) on
Investment
Properties		 (900,000) (900,000)
Gains/(Losses)
on
Monetary
Investments		 908 727 1,635
Net Incoming/(Outgoing)
Resources Before Transfers (919,247) (15,680) (27,491) 3,223 4,600 (954,595)
Transfers Between Funds (31,127) 2,000 33,000 (3,873)
Net Movements
In Funds		 (950,374) (13,680) 5,509 3223 727 (954,595)
Total Funds
Brought Forward 3,859,917 81,562 51,737 120,893 120,468 4,234,577
Total Funds
Carried Forward 2,909,543 67,882 57,246 124,116 121,195 3,279,982