2021-08-31-accounts - Derby Circuit Of The Methodist Church

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Circ	uit lay workers
The	circuit continues to employ the following	lay workers
	Jo Howie	Based at the Susanna	Wesley House project
	Judith Neal	Supporting the superintendent minister
	Mairi Radcliffe	Supporting St Martin's	Methodist Church
	Fiona Riley —Schnoor-	Circuit Administrator	and Safeguarding Officer

Administrative	Administrative		Information	Information	—continued	—continued
Circuit Ministers			and officers
Active Circuit		Ministers:				Rev Colin Emerson (Superintendent)
						Rev Neil Draper
						Rev Darren Howie (resigned 24.4.21)
						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 (resigned 12.11.20)
						Mrs Hilary Jones
						Mr John IvlcCartney
						Mr Pete Nelson
						Mr Phil Royle
Administrators:						Mrs Fiona Riley-Schnoor
						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:				Haines Watts, Chartered	Accountants	and Registered			Auditor
						10Stadium Business Court
						Millennium Way
						Pride Park
						Derby
						DE24 BHP
Investment	Bankers:					Trustees for Methodist	Church purposes
Bankers:						Central Finance Board ofthe Methodist			Church
						HSBC Bank pic
						CAF Bank Ltd
Structure, Governance				and	Management

							Restricted	&Endowment
				Unrestricted	Funds			Funds
				Circuit
				Model					Total	Total
		General		Trust		Designated	Restricted	Endowment	2021	2020
										(As
										restated)
	Note	E								E
	s
Incoming Resources
Income from Monetary
Investments			182	3,554		61	1,068	2,758	7,623	11,808
Income from
Investment Properties						27,383			27,383	18,540
Assessments on
Churches	2	402,416							402,416	428,966
Grants Received	3	19,380							19,380	8,000
Other Income	4	6,198				625			6,823	105,579
Total Incoming
Resources		428,176		3,554		28,069	1,068	2,758	463,625	572,893
Expenditure
Grants and Donations			955	32,608		3,015	100		36,678	40,672
Salaries and
Associated Costs		309,062				1,950			311,012	332,475
Property Expenses		28,871				12,252			41,123	50,236
District and
Connexional Levies	8	105,655		1,265					106,920	89,553
Office Expenses	9	6,353							6,353	7,185
Other Outgoings	10	24,278		101		38	182		24,599	10,036
Total Expenditure		475,174		33,974		17,255	282		526,685	530,157
Net Income Before
Investment
Gains/(Losses)		(46,998)		(30,420)		10,814	786	2,758	(63,060)	42,736
Gains/(Losses) on
Monetary Investments							7,549	21,178	28,727	(4,555)
Gains/(Losses) on
Investment Properties
Net Incoming/
{Outgoing) Resources
Before Transfers		(46,998)		(30,420)		10,814	8,335	23,936	(34,333)	38,181
Transfers
Between Funds		(45,242)		15,000		33,000		(2,758)
Net Movements
in Funds		(92,240)		(15,420)		43,814	8,335	21,178	(34,333)	38,181
Reconciliation of Funds
Total Funds
Brought Forward		2,881,475		50,611		90,119	178,198	117,760	3,318,163	3,279,982
Total Funds
Carried Forward	19	2,789,235		35,191		133,933	186,533	138,938	3,283,830	3,318,163

							Restricted	&Endowment
				Unrestricted	Funds			Funds
				Circuit
				Model					Total	Total
			General	Trust		Designated	Restricted	Endowment	2021	2020
		Notes	E
Fixed Assets
Circuit Manses etc		11	2,686,670						2,686,670	2,686,670
Investments		12				19,249	92,673	138,938	250,860	222,133
Total Fixed Assets			2,686,670			19,249	92,673	138,938	2,937,530	2,908,803
Current Assets
Investment Properties		11	87,500						87,500	87,500
Debtors		13	22,887						22,887	24,640
Outstanding
Purchase Price		13a	85,000						85,000	110,000
Trustees for Methodist
Church Purposes				35,191			91,313		126,504	141,800
Central Finance
Board Deposits	.	14	31,110			114,684	2,547		148,341	164,214
Cash at Bank
and In Hand		14	10,210						10,210	38,831
Total Current Assets			236,707	35,191		114,684	93,860		480,442	566,985
Creditors Due ln Under
One Year		15	134,142						134,142	157,625
Net Current
Assets/(Liabilities)			102,565	35,191		114,684	93,860		346,300	409,360
Net Assets			2,789,235	35,191		133,933	186,533	138,938	3,283,830	3,318,163
Funds ofthe Circuit
General Funds
(Unrestricted)			2,789,235						2,789,235	2,881,475
Circuit Model Trust
Fund (Unrestricted)				35,191					35,191	50,611
Designated Funds
(Unrestricted)						133,933			133,933	90,119
Total
Unrestricted Funds		17	2,789,235	35,191		133,933			2,958,359	3,022, 205
Restricted Funds		18					186,533		186,533	178,198
Endowment Fund		18						138,938	138,938	117,760
Total Funds			2,789,235	35,191		133,933	186,533	138,938	3,283,830	3,318,163

					2021	2020
				Note	E	E
Cash used in operating activities				26	(92,296)	53,922
Cash flows from investing	activities
Dividends, interest and rents from investments					32,506	30,348
Net cash provided by/(used	in) investing	activities			32,506	30,348
Increase/(decrease) in cash	and equivalents		in the year		(59,790)	84,270
Cash and cash equivalents	brought forward				344,845	260,575
Cash and cash equivalents	carried forward				285,055	344,845
Cash and cash equivalents	consist of:
Cash at bank and in hand					285,055	344,845

. Grants Receivable
			2021	2020
			f	f
Towards costs of Chinese		Ministry
District			4,180
Hong Kong Methodist	Church		2,000	2,000
Chinese congregation			13,200	6,000
			19,380	8,000
. Other Income
			2021	2020
				(As restated)
				E
Recovered insurance	premiums		496	494
Chester Green Legacy			2,204
Miscellaneous			3,498	3,421
Unrestricted Total			6,198	3,915
Designated —Susanna	Wesley House Fund		625	1,399
Restricted — Borrowash		House Fund		100,265

.	Grants and D	on	ations
				2021	2020
				f	E
Grants	to churches	and other institutions		35,149	39,365
Grants	and donations		to individuals	1,529	1,307
				36,678	40,672

tipends	were paid	to 7 Presbyters and	3 lay employees (20	19/20: 11)and were	as follows:-
			General	Designated	Total	2020
			E		f	E
Stipends			212,940		212,940	229,652
National	Insurance	Contributions	18,417		18,417	19,620
Pension	Fund Contributions		47,937		47,937	52,769
Telephone			5,095		5,095	5,083
Travelling			944		944	6,092
Removal	and Relocation Costs			1,950	1,950
			285,333	1,950	287,283	313,216

Administration	Administration
			General	Designated	Total	2020
			f	E	E	E
Salary			21,047		21,047	17,559
National	Insurance	Contributions	1,275		1,275	910
Pension	Fund Contributions		951		951	735
Travel			456		456	55
			23,729		23,729	19,259
Stipends	and Salaries totals		309,062	1,950	311,012	332,475

					General		CMTF	CMTF	Total		2020
					f			f	f		f
District	Expenses				18,059				18,059		10,656
Methodist		Church	Fund		87,596				87,596		77,200
Levy on	CMTF Funds							1,265	1,265		1,697
					105,655			1,265	106,920		89,553
	Office Expenses
					General				Total		2020
					f				f		f
Stationery		and Postages			2,239				2,239		3,613
Office Telephone					664				664		272
Audit Fee					3,450				3,450		3,300
					6,353				6,353		7,185
0.	Other Expenses
				General	CMTF	Designated		Restricted	Total		2020
Preaching	Fees
&Travel				170						170	757
TMCP Charges					101			182		283	336
Training Costs										38	53
Recoverable
Insurance
Premiums				496						496	494
Miscellaneous				23,612					23,612		8,396
				24,278	101		38	182	24,599		10,036

11.	Tangible	Tangible	Fixed	Fixed	Assets
								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
12.	Investment			Assets

	2021	2020
	f	f
Market Value Brought Forward	222,133	258,670
Net Gain/Loss on Revaluation	28,727	(4,555)
Disposal during the year		(31,982)
Market Value Carried Forward	250,860	222,133
Investments at fair value comprise:
CFBManaged Mixed Fund	179,655	151,791
Royal Bank ofScotland pic	2,839	1,461
Trustees Interest Fund	68,366	68,881
	250,860	222,133

				Designated	Funds	Funds	Funds	Restricted	Restricted	Funds	Funds	Endowment	Endowment	Endowment	Funds	Funds
				2021			2020	2021			2020	2021				2020
				E			E	E			E	E				E
Market Value
Brought Forward				19,249			19,249	85,124			118,226	117,760				121,195
Net Gain/(Loss)
on Revaluation								7,549			(1,114)	21,178				(3,435)
Disposal during the		year									(31,988)
Market Value
Carried Forward				19,249			19,249	92,673			85,124	138,938				117,760
CFBManaged
Mixed Fund								48,674			41,125	130,981				110,666
Royal Bank of
scotland pic												2,839				1,461
Trustees
Interest Fund				19,249			19,249	43,999			43,999	5,118				5,633
				19,249			19,249	92,673			85,124	138,938				117,760
3. Debtors and Prepayments
ll sums shown		as debtors		at 1 September			2020 were received		during		the following	year.	All	sums		paid in
dvance at 1September			2020 were for		activities that			have been	held	during 2020/21.		Similarly,		it is expected
hat payments	in advance at			1September		2021 will be expensed			in 2021/22.
											2021				2020
Debtors												E				E
Recoverable	Expenses											1,561				1,698
Prepayments
Stipends, Pension and NIC											19,265					21,031
Methodist Insurance												2,061				1,911
											22,887					24,640

	General	Designated	Restricted	Total	2020
	E	E	E	E	E
Central Finance Board	26,078	119,716	2,547	148,341	164,214
HSBC Bank pic	5,807			5,807	34,465
CAF Bank Ltd	4,247			4,247	4,167
Cash	156			156	199
	36,288	119,716	2,547	158,551	203,045

t is expe	cted th	at all	sums a	cc	rued a	t 31August 2021 will b	t 31August 2021 will b	e paid during t	he year ended 31Augu	he year ended 31Augu	st 2022.
						General		Designated	Total		2020
							E			E	E
Income in Advance
Assessments in Advance							87,458			87,458	99,391
Grant in Advance							6,876			6,876	4,180
Creditors	and Accruals
Ministers'	Expenses						1,421			1,421		966
Audit Fee							3,450			3,450	3,300
CPF Levy							34,000			34,000	44,000
Others							937			937	5,788
							134,142		134,142		157,625
ncome received		in advance		in	2020 totalling ff103,571was			fully released	during the year	ended	31"August
021.
6.	Capital	Commitments			and Contingent		Liabilities
t 31August 2021the			Circuit		had no	capital commitments.
7.	Unrestricted		Funds
eneral	Fund
									2021		2020
									f		f
Balance									2,789,235		2,881,475

19. Summary of	Fund Movements
	Balance at				Gains/	Balance at
	1,9.2020	Income	Expenditure	Transfers	(Losses)	31.8,2021
	E	E	E	E	E	E
General	2,881,475	428,176	475,174	(45,242)		2,789,235
Circuit Model Trust	50,611	3,554	33,974	15,000		35,191
Total Unrestricted
8 Undesignated	2,932,086	431,730	509,148	(30,242)		2,824,426
Susanna Wesley
House	1,499	625				2,124
Manses	40,704	27,383	11,670	28,000		84,417
Removal &
Relocation	1,185		1,950	3,500		2,735
Quinquennial	(2,196)		3,080	1,500		(3,776)
Prison	142					142
Training	5,737	61	555			5,243
Dunkirk	23,799					23,799
Greenhill Bursary	19,249					19,249
Total Designated	90,119	28,069	17,255	33,000		133,933
Total Unrestricted	3,022,205	459,799	526,403	2,758		2,958,359
Benevolent	419		100			319
Borrowash House	91,189	308	182			91,315
Queen's Hall	42,591	760			7,549	50,900
Bequests	43,999					43,999
Total Restricted	178,198	1,068	282		7,549	186,533
Bequests	117,760	2,758		(2,758)	21,178	138,938
Total Restricted
&Endowment	295,958	3,826	282	(2,758)	28,727	325,471
Total of All Funds	3,318,163	463,625	526,685		28,727	3,283,830

		General	CMTF	Designated	Restricted	Endowment	Total	2020
Tangible	Fixed Assets	2,686,670					2,686,670	2,686,670
Fixed Asset
Investments				19,249	92,673	138,938	250,860	222,133
Current	Assets	236,707	35,191	114,684	93,860		480,442	566,985
Current	Liabilities	(134,142)					(134,142)	(157,625)
		2,789,235	35,191	133,933	186,533	138,938	3,283,830	3,318,163
Fund balance at 31August 2020 are represented			by:
		General	CIVITF	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	70,870	93,074		566,985	496,8S7
Current	Liabilities	(157,625)					(157,625)	(162,245)
		2,881,475	50,611	90,119	178,198	117,760	3,318,163	3,279,982


6. Reconciliation of Net Income to Net Cash Flow from Operating	Activities
		2021	2020
		E	E
Net Income/(Expenditure) Before Transfers		(34,333)	38,183
Add Loss(Deduct Gains) on Investments		(28,727)	4,553
Add Cash from sale ofinvestments			31,982
Deduct Dividends, Interest and Rents from Investments		(32,506)	(30,348)
Decrease/(Increase) in Debtors		26,753	14,172
Increase/(Decrease) in Creditors		(23,483)	(4,620)
Net Cash Used in Operating Activities		(92,296)	53,922

27. Comparati	ve SOF	A (As Restat	ed)
			Unrestricted	Funds		Restricted a	Endowment	Funds
			Circuit
			Model						Total
		General	Trust		Designated	Restricted	Endowment		2020
Incoming Resources
Income from
Monetary Investments		793	5,172		179	2,328		3,336	11,808
Income from
Investment Properties					18,540				18,540
Assessments
on Churches		428,966							428,966
Grants Received		8,000							8,000
Other Income		3,915			1,399	100,265			105,579
Total Incoming Resources		441,674	5,172		20,118	102,593		3,336	572,893
Expenditure
Grants and Donations		1,050	29,610		277	9,735			40,672
Salaries and
Associated Costs		332,339			136				332,475
Property Expenses		30,456			19,780				50,236
District &Connexial	Levies	87,856	1,697						89,553
Office Expenses		7,185							7,185
Other Outgoings		9,647	136		53	200			10,036
Total Expenditure		468,533	31,443		20,246	9,935			530,157
Net Income Before
Investment Gains/(Losses)		(26,859)	(26,271)		(128)	92,658		3,336	42,736
Gains/(Losses) on
Monetary Investments		(3)				(1,118)		(3,435)	(4,555)
Net Incoming/(Outgoing)
Resources Before Transfers		(26,862)	(26,271)		(127)	91,540		(99)	38,181
Transfers Between Funds		(1,206)	9,000		33,000	(37,458)		(3,336)
Net Movements in Funds		(28,068)	(17,271)		32,873	54,082		(3,435)	38,181
Total Funds
Brought Forward		2,909,543	67,882		57,246	124,116		121,195	3,279,982
Total Funds
Carried Forward		2,881,475	50,611		90,119	178,198		117,760	3,318,163

	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	441,674	468,533	(1,206)	(3)	2,881,475
Circuit Model Trust	67,882	5,172	31,443	9,000		50,611
Total Unrestricted
&Undesignated	2,977,425	446,846	499,976	7,794	(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			5,737
Dunkirk	23,799					23,799
Greenhill Bursary	19,249					19,249
Total Designated	57,246	20,118	20,246	33,000		90,119
Total Unrestricted	3,034,671	466,964	520,222	40,794	(2)	3,022,205
Benevolent	419					419
Borrowash House		101,125	9,936			91,189
Queen's Hall	79,698	1,468	(1)	(37,458)	(1,118)	42,591
Bequests	43,999					43,999
Total Restricted	124,116	102,593	9,935	(37,458)	(1,118)	178,198
Bequests	121,195	3,336		(3,336)	(3,435)	117,760
Total Restricted
&Endowment	245,311	105,929	9,935	(40,794)	(4,553)	295,958
Total of All Funds	3,279,982	572,893	530,157		(4,555)	3,318,163