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|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||||||
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##
|||||||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|
##
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##
##
|.
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|