2022-08-31-accounts - Derby Circuit Of The Methodist Church

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Administrative	Administrative	Information	Information	—continued	—continued
Circuit Ministers		and officers
Active Circuit Ministers:					Rev Chris Briggs
					Rec Calvin Cheung
					Rev Neil Draper
					Rev Colin Emerson
					Rev David Owen
					Rev Dr Jacky Quarmby
					Rev Gill Sharp (resigned	31.8.22)
Circuit Lay	Employees:				Mrs Jo Howie
					Mrs Judith Neal
					Mrs Mairi Radcliffe
Circuit Stewards					Mrs Hilary Jones
					Mr John McCartney
					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 8HP
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
									As
			Circuit						restated
			Model					Total	Total
		General	Trust		Designated	Restricted	Endowment	2022	2021
	Note	E
	s
Incoming Resources
Income from Monetary
Investments		551	3,842		93	1,140	2,586	8,212	7,623
Income from
Investment Properties		2,500			36,965			39,465	27,383
Assessments on
Churches		395,579						395,579	402,416
Grants Received		3,397						3,397	19,380
Other Income		3,030	610,321					613,351	6,823
Total Incoming
Resources		405,057	614,163		37,058	1,140	2,586	1,060,004	463,625
Expenditure
Grants and Donations		20	25,265		175			25,460	36,678
Salaries and
Associated Costs	6	294,780			71			294,851	311,012
Property Expenses	7	27,286			16,493			43,779	41,123
District and
Connexional Levies	8	105,036	202,029					307,065	106,920
Support Costs	9	6,802						6,802	6,353
Other Outgoings	10	14,633	100		135	260		15,128	24,599
Total Expenditure		448,557	227,394		16,874	260		693,085	526,685
Net Income Before
Investment
Gains/(Losses)		(43,500)	386,769		20,184		2,586	366,919	(63,060)
Gains/(Losses) on
Monetary Investments						(1,060)	(7,813)	(8,873)	28,727
Gains/(Losses) on
Investment Properties
Revaluations		160,000						160,000	429,000
Net Incommg/
(Outgomg) Resources
Before Transfers		116,500	386,769		20,184	(180)	(5,227)	518,046	394,667
Transfers
Between Funds	19	3,198	15,000		32,000	(47,614)	(2,584)
Net Movements
in Funds		119,698	401,769		52,184	(47,794)	(7,811)	518,046	394,667
Reconciliation of Funds
Total Funds
Brought Forward		3,218,235	35,191		133,933	186,533	138,938	3,712,830	3,318,163
TotalFunds
Carried Forward	19	3,337,933	436,960		186,117	138,739	131,127	4,230,876	3,712,830

						Restricted	&Endowment
			Unrestricted	Funds			Funds
									As
			Circuit						restated
			Model					Total	Total
		General	Trust		Designated	Restricted	Endowment	2022	2021
	Notes	E
Fixed Assets
Circuit Manses etc	11	1,676,670						1,676,670	1,961,670
investments	12				19,249	43,998	131,127	194,374	250,860
Total Fixed Assets		1,676,670			19,249	43,998	131,127	1,871,044	2,212,530
Current Assets
Investment Properties	11	1,686,500						1,686,500	1,241,500
Debtors	13	17,289						17,489	22,887
Outstanding
Purchase Price	13a	70,000						70,000	85,000
Trustees for Methodist
Church Purposes			436,840			91,482		528,322	126,504
Central Finance
Board Deposits	14	4,111			166,868	3,259		174,238	148,341
Cash at Bank
and In Hand	14	22,938						22,938	10,210
Total Current Assets		1,800,838	437,040		166,868	94,741		2,499,487	1,634,442
Creditors Due In Under
One Year	15	139,575	80					139,655	134,142
Net Current
Assets/(Liabilities)		1,661,263	436,960		166,868	94,741		2,359,832	1,500,300
Net Assets		3,337,933	436,960		186,117	138,739	131,127	4,230,876	3,712,830
Funds ofthe Orcuit
General Funds
(Unrestricted)		2,748,933						2,748,933	2,789,235
Circuit Model Trust
Fund (Unrestricted)			436,960					436,960	35,191
Designated Funds
(Unrestricted)					186,117			186,117	133,933
Total
Unrestricted Funds	17	2,748,933	436,960		186,117			3,372,010	2,958,359
Fair Value Reserve	17a	589,000						589,000	429,000
Restricted Funds	18					138,739		138,739	186,533
Endowment Fund	18						131,127	131,127	138,938
Total Funds		3,337,933	436,960		186,117	138,739	131,127	4,230,876	3,712,830

							2022	2021
						Note	f	E
Cash used in operating activities						25	392,766	(92,296)
Cash flows from investing		activities
Dividends, interest	and rents from investments						47,677	32,506
Net cash provided	by/(used	in) investing		activities			47,677	32,506
Increase/(decrease)	in cash	and equivalents			in the year		440,443	(59,790)
Cash and cash equivalents		brought	forward				285,055	344,845
Cash and cash equivalents		carried forward					725,498	285,055
Cash and cash equivalents		consist of:
Cash at bank and in	hand						725,498	285,055
Analysis ofchange	in Net Funds					At 1.9.21 E	Cash flow f	At 31.8.22 f
Net Cash
Cash at Bank						285,055	440,443	725,498

			2022	2021
			f	f
Towards costs of	Chinese Ministry
District			3,397	4,180
Hong Kong Methodist		Church		2,000
Chinese congregation				13,200
			3,397	19,380
4. Other Income
			2022	2021
			f	f
Sale ofChurches			610,321
Recovered insurance		premiums	532	496
Chester Green Legacy				2,204
Miscellaneous			2,498	3,498
Unrestricted Total			613,351	6,198
Designated —Susanna		Wesley House Fund		625
5. Grants and Donations
			2022	2021
			f	f
Grants to churches	and other institutions		25,265	35,149
Grants and donations		to individuals	195	1,529
			25,460	36,678

			General	Designated	Total	2021
			f	f	f	f
Stipends			200,189		200,189	212,940
National	Insurance	Contributions	17,840		17,840	18,417
Pension	Fund Contributions		44,230		44,230	47,937
Telephone			4,389		4,389	5,095
Travelling			6,265		6,265	944
Removal	and Relocation Costs			71	71	1,950
			272,913	71	272,984	287,283

Administration	Administration
			General	Designated	Total	2021
			f	f	f	f
Salary			17,073		17,073	21,047
National	Insurance	Contributions	1,345		1,345	1,275
Pension	Fund Contributions		971		971	951
Travel			2,478		2,478	456
			21,867		21,867	23,729
Stipends	and Salaries totals		294,780	71	294,851	311,012

Expenditure	on Manses
		General	Designated	Total	2021
		f	f	f	f
Council Tax		11,787		11,787	13,589
Water rates		3,046		3,046	3,474
Insurance		7,192		7,192	6,883
Maintenance			14,523	14,523	7,790
Furnishings			430	430	1,382
		22,025	14,953	36,978	33,118
Letting Expenses
Agents' charges		5,261		5,261	4,925
Other Property Expenses
		General	Designated	Total	2021
			f	f	f
Quinquennial	Reports		1,540	1,540	3,080
			1,540	1,540	3,080
Property Totals		27,286	16,493	43,779	41,123

				General	CMTF	CMTF	Total	2021
				f		f	f	f
District Expenses				7,336		6,001	13,337	18,059
Methodist	Church	Fund		97,700			97,700	87,596
Levy on CMTF Funds						196,028	196,028	1,265
				105,036		202,029	307,065	106,920
Support Costs
				General			Total	2021
				f			f	f
Stationery	and Postages			2,324			2,324	2,239
Office Telephone				548			548	664
Audit Fee				3,930			3,930	3,450
				6,802			6,802	6,353
0. Other Expenses
			General	CMTF	Designated	Restricted	Total	2021
Preaching Fees
&Travel			579				579	170
TMCP Charges					55	260	415	283
Training Costs					80		80	38
Recoverable
Insurance
Premiums			533				533	496
Miscellaneous			13,521				13,521	23,612
			14,633		135	260	15,128	24,599

11. Tangible Fixed	Assets
					Other
			Land	Manses	Buildings	Total
			E		E	E
Balance Brought Forward			200,000	1,523,835	237,835	1,961,670
Additions
Disposals
Transfer to Investment	Property			(285,000)		(285,000)
Balance Carried Forward			200,000	1,238,835	237,835	1,676,670
Investment Properties	(currently	let to tenants	not linked to	the Church)
Balance Brought Forward					1,241,500	1,241,500
Additions
Disposals
Transfer from fixed assets
Revaluation of	2A Balmoral Close				445,000	445,000
					1,686,500	1,686,500

		2022	2021
		E	E
Market Value	Brought Forward	250,860	222,133
Net Gain/Loss	on Revaluation	(8,873)	28,727
Disposal during the year		(47,613)
Market Value	Carried Forward	194,374	250,860
Investments at	fair value comprise:
CFBManaged	Mixed Fund	122,753	179,655
Royal Bank of	Scotland pic	3,257	2,839
Trustees Interest Fund		68,364	68,366
		194,374	250,860

				Designated	Funds	Funds	Restricted Funds	Restricted Funds	Restricted Funds		Endowment	Endowment	Endowment	Funds	Funds
				2022		2021	2022		2021		2022				2021
				E		E	E		E		E				E
Market Value
Brought Forward				19,249		19,249	92,673		85,124		138,938				117,760
Net Gain/(Loss)
on Revaluation							(1,061)			7,549	(7,811)				21,178
Disposal during the		year					(47,614)
Market Value
Carried Forward				19,249		19,249	43,998		92,673		131,127				138,938
CFBManaged
Mixed Fund									48,674		122,753				130,981
Royal Bank of
Scotland pic											3,257				2,839
Trustees
Interest Fund				19,249		19,249	43,998		43,999		5,117				5,118
				19,249		19,249	43,998		92,673		131,127				138,938
3. Debtors and Prepayments
ll sums shown		as debtors		at 1 September		2021 were received		during	the	following	year.	All	sums		paid in
dvance at 1September			2021 were for		activities that		have been	held during		2021/22.	Similarly,		it is expected
hat payments	in advance at			1September 2022 will be			expensed	in 2022/23.
										2022				2021
Debtors											f				f
Recoverable	Expenses										205				1,561
Prepayments
Stipends, Pension and NIC										15,084					19,265
Methodist Insurance											2,200				2,061
										17,489					22,887

	General	Designated	Restricted	Total	2021
	E	E	E	E	E
Central Finance Board	4,111	166,868	3,259	174,238	148,341
HSBC Bank pic	17,458			17,458	5,807
CAF Bank Ltd	5,339			5,339	4,247
Cash	141			141	156
	27,049	166,868	3,259	197,176	158,551

				Circuit Model
			General	Trust	Total	2021
			E	E	E	E
Income in	Advance
Assessments		in Advance	95,085		95,085	87,458
Grant in Advance			2,620		2,620	6,876
Creditors	and	Accruals
Ministers'	Expenses		1,086		1,086	1,421
Audit Fee			3,780		3,780	3,450
CPF Levy			28,000	80	28,080	34,000
Others			9,004		9,004	937
			139,575	80	139,655	134,142

2022	2021
E	E
436,960	35,191

19. Summary o	f Fund Movements
	As restated
	Balance at				Gains/	Balance at
	1.9.2021	Income	Expenditure	Transfers	(Losses)	31.8.2022
	E	E	E	E	E	E
General	3,218,235	405,057	448,557	3,198	160,000	3,337,933
Circuit Model Trust	35,191	614,163	227,394	15,000		436,960
Total Unrestricted
&Undesignated	3,253,426	1,019,220	675,951	18,198	160,000	3,774,893
Susanna Wesley
House	2,124					2,124
Manses	84,417	36,965	14,954	28,000		134,428
Removal &
Relocation	2,735		71	2,500		5,164
Quinquennial	(3,776)		1,539	1,500		(3,815)
Prison	142					142
Training	5,243	93	310			S,026
Dunkirk	23,799					23,799
Greenhill Bursary	19,249					19,249
Total Designated	133,933	37,058	16,874	32,000		186,117
Total Unrestricted	3,387,359	1,056,278	692,825	50,198		3,961,010
Benevolent	319					319
Borrowash House	91,315	428	260			91,483
Queen's Hall	50,900	712		(47,614)	(1,060)	2,938
Bequests	43,999					43,999
Total Restricted	186,533	1,140	260	(47,614)	(1,060)	138,739
Bequests	138,938	2,586		(2,584)	(7,813)	131,127
Total Restricted
&Endowment	325,471	3,726	260	(50,198)	(8,873)	269,866
Total of All Funds	3,712,830	1,060,004	693,085		151,127	4,230,876

								As
							Total	restated
		General	CMTF	Designated	Restricted	Endowment		2021
Tangible	Fixed Assets	1,676,670					1,676,670	1,961,670
Fixed Asset
Investments				19,249	43,998	131,127	194,374	250,860
Current	Assets	1,800,838	437,040	166,868	94,741		2,499,487	1,634,442
Current	Liabilities	(139,575)	(80)				(139,655)	(134,142)
		3,337,933	436,960	186,117	138,739	131,127	4,230,876	3,712,830
und balance at 31August 2021are represented			by:
		General	CMTF	Designated	Restricted	Endowment	Total	2020
Tangible	Fixed Assets	1,961,670					1,961,670	2,6S6,670
Fixed Asset
Investments				19,249	92,673	138,938	250,860	222,133
Current	Assets	1,390,707	35,191	114,684	93,860		1,634,442	566,985
Current	Liabilities	(134,142)					(134,142)	(157,625)
		3,218,235	35,191	133,933	186,533	138,938	3,712,830	3,318,163

											As restated
									2022		2021
									E		E
Net Income/(Expenditure)			Before T'ransfers						518,046		394,667
Deduct gain on revaluations									(160,000)		(429,000)
Add Loss(Deduct	Gains) on		Investments						8,873		(28,727)
Add Cash from sale		ofinvestments							47,613
Deduct Dividends,	Interest		and	Rents from	Investments				(47,677)		(32,506)
Decrease/(Increase)		in Debtors							20,398		26,753
Increase/(Decrease)		in Creditors							5,513		(23,483)
Net Cash Used in	Operating		Activities						392,766		(92,296)
26. Comparative		SOFA
											As
					Unrestricted	Funds		Restricted &	Endowment	Funds	restated
					Circuit
					Model						Total
			General		Trust		Designated	Restricted	Endowment		2021
Incoming Resources
Income from
Monetary Investments				182	3,554		61	1,06S		2,758	7,623
Income from
Investment Properties							27,383				27,383
Assessments
on Churches				402,416							402,416
Grants Received				19,380							19,380
Other Income				6,198			625				6,823
Total Incoming Resources				428,176	3,554		28,069	1,068		2,758	463,625
Expenditure
Grants and Donations				955	32,608		3,015				36,678
Salaries and
Associated Costs				309,062			1,950				311,012
Property Expenses				28,871			12,252				41,123
District &Connexial	Levies			105,655	1,265						106,920
Office Expenses				6,353							6,353
Other Outgoings				24,278	101		38	182			24,599
Total Expenditure				475,174	33,974		17,255	282			526,685
Net Income Before
Investment Gains/(Losses)				(46,998)	(30,420)		10,814	786		2,758	(63,060)
Gains/(Losses) on
Monetary Investments								7,549		21,178	28,727
Gains/(Losses) on
Investment Properties				429,000							429,000
Net Incoming/(Outgoing)
Resources Before Transfers				382,002	(30,420)		10,814	8,335		23,936	394,667
Transfers Between Funds				(45,242)	15,000		33,000			(2,758)
Net Movements in Funds				336,760	(15,420)		43,814	8,335		21,178	394,667
Reconciliation of Funds
Total Funds
Brought Forward			2,881,475		50,611		90,119	178,198		117,760	3,318,163
Total Funds
Carried Forward			3,218,235		35,191		133,933	186,533		138,938	3,712,830

						As restated
	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)	429,000	3,218,235
Circuit Model Trust	50,611	3,554	33,974	15,000		35,191
Total Unrestricted
&Undesignated	2,932,086	431,730	509,148	(30,242)		3,253,426
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 Prison	(2,196) 142		3,080	1,500		(3,776) 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		3,387,359
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		457,727	3,712,830