# # ## ## # ||Page| |---|---| |Administrative
information|1 —2| |Trustees'
Report|| |Independent
Examiner's
Report|| |Statement of Financial
Activities|| |Balance Sheet|| |Statement ofcash flows|10| |Notes to the Financial Statements|11 —20| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |The following
are ex officio members
of the|The following
are ex officio members
of the|The following
are ex officio members
of the|Circuit Meeting:|| |---|---|---|---|---| |Circuit Stewards||appointed|by the Circuit Meeting|| |Circuit Meeting|Secretary|appointed|by the Circuit Meeting|| |Representatives|to District Synod|appointed|by the Circuit Meeting|| |Local Preachers|Secretary|appointed|by the Local Preachers'|Meeting| ## ## ## ## ## ## ## ||||Notes|Unrestricted|Restricted|Restricted|Endowment|Total|Total| |---|---|---|---|---|---|---|---|---|---| |||||Funds|Funds||Funds|2023|2022| |Incoming resources
from generated|||funds:||||||| |Donations|||2|107,873||||107,873|116,383| |Rental income||||27,700||||27,700|18,100| |Investment
income - bank interest||||4,315||195||4,510|612| |Other income (funds transferred||in)||6,733|10,955|||17,688|149,000| |TOTAL INCOME||||146,621|«,|150||157,771|284,095| |EXPENDITURE|||||||||| |Costs ofgenerating
funds||||2,716||||2,716|2,716| |Expenditure
on charitable
activities||||153,405|«,|182||164,587|201,023| |TOTAL EXPENDITURE||||156,121|«,|182||167,303|203,739| |NET INCOME/(EXPENDITURE)|||||||||| |BEFORETRANSFERS||||(9,500)||(32)||(9,532)|80,356| |OTHER RECOGNISED GAINS &(LOSSES)|||||||||| |Realised gain on sale ofasset|||||||||| |Gains/(losses)
on revaluation|of||||||||| |current investment
assets|||13|(202,500)||||(202,500)|117,900| |NET MOVEMENT
IN FUNDS|||14|(212,000)||(32)||(212,032)|198,256| |TOTAL FUNDS BROUGHT|||||||||| |FORWARD|||14|1,272,664|2,909||662|1,276,235|1,077,979| |TOTAL FUNDS CARRIED|||||||||| |FORWARD|||14|1,060,664|2,877||662|1,064,203|1,276,235| |||Notes|2023|2023|2022|2022|| |---|---|---|---|---|---|---|---| |FIXEDASSETS|||||||| |Tangible fixed assets||||630,035||636,225|| |Investments||||662|||662| |||||630,697||636,887|| |DEBTORS due in more than one year||12|||||| |CURRENT ASSETS|||||||| |Debtors||12|16,867||20,338||| |Investments||13|276,400||478,900||| |Cash at Bank and|in Hand||18'I,616||177,350||| ||||474,883||676,588||| |CREDITORS|||||||| |Amounts
falling due in one year||14|41,377||37,241||| |NET CURRENT ASSETS I(LIABILITIES)||||433,506||639,348|| |NET ASSETS||||1,064,203||1,276,235|| |FUNDS|||||||| |Unrestricted||15||1,060,664||1,272,|664| |Restricted||15||2,877||2,909|| |Endowment||15||662|||662| |TOTALFUNDS||||1,064,203||1,276,235|| ||||||2023|2022|| |---|---|---|---|---|---|---|---| |||||Notes|||| |Cash used in operating|activities|||20|(244)|(58,|774)| |Cashflowe frominvesting||activities|||||| |Interest and dividends|||||4,510||612| |Proceeds ofsale of investments|||||||| |Purchase
of investments|||||||30| |Cash provided
by/(used|in) investing||activities||4,510||642| |Cashflowe fromfinancing||activities|||||| |Repayment
ofborrowing|||||||| |Cash used in financing|activities||||||| |Increase/(decrease)
in cash &cash|||equivalents|in the year|4,266|(58,|132)| |Cash and cash equivalents||brought|forward||177,350|235,482|| |Cash and cash equivalents||carried forward|||181,616|177,350|| |Cash and cash equivalents||consist of:|||||| |Cash at bank and in hand|||||181,616|177,350|| ||||||181,616|177,350|| ## ## ## ## ## ## ## ## ## ## ## |||||||2023|||2022|| |---|---|---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |2|DONATIONS|||||||||| ||Church assessments||||107,873||107,873|116,383||116,383| ||Donations|||||||||| ||||||107,873||107,873|116,383||116,383| |3|OTHER TRADING|INCOME||||||||| ||Rental income||||27,700||27,700|18,100||18,100| ||||||27,700||27,700|18,100||18,100| |4|INVESTMENT INCOME|||||||||| ||Income from lixed asset||investments||2,772|195|2,967|506||506| ||Bank interest||||1,543||1,543|106||106| ||||||4,315|195|4,510|612||612| |5|FUNDS TRANSFERRED|||IN||||||| ||From closure ofPatricroft||||6,733|10,955|17,688|149,000||149,000| ||From closure of Boundary||Road|||||||| ||||||6,733|10,955|17,688|149,000||149,000| |6|COSTS OF GENERATING|||FUNDS||||||| ||Agents fees re rental|income|||2,716||2,716|2,716||2,716| ||||||2,716||2,716|2,716||2,716| ||||||||2023|||2022|| |---|---|---|---|---|---|---|---|---|---|---|---| ||||||Unrestricted||Restricted|Tota I|Unrestricted|Restricted|Total| |7|CHARITABLE EXPENDITURE||||||||||| ||Direct costs||||||||||| ||Stipends,
salaries
& expenses||||59,353|||59,353|72,920||72,920| ||Grants to Circuit Churches||||24,850||11,150|36,000|||| ||Grants to others bodies||||||||54,035||54,075| ||Manse costs (including
depreciation)||||16,284|||16,284|20,694||20,694| ||District 8 Connexional
assessments||||26,651|||26,651|27,927||27,927| ||District Advance
Fund
levy||||2,630|||2,630|5,597||5,597| ||Benevolent
fund payments||||||32|32|||| ||Support costs & governance||||||||||| ||Office, communications
&|other|costs||13,790|||13,790|10,935||10,935| ||interest
and charges|||||432||432|535||535| ||Accountancy
& legal fees||||9,415|||9,415|8,341||8,341| ||||||153,405||11,182|164,587|200,983|40|201,023| ||Grants to other bodies are analysed|||as:|||||||| ||Methodist
Church
Pension|Resene Fund|||||||||53,785| ||All Churches
in Salford Circuit - towards|||energy costs||||12,000|||| ||Wesley
Methodist
Church|- refurbishment||||||10,000|||| ||Monton
Methodist
Church|- hall refurbishment||||||8,000|||| ||Monton
Methodist
Church|—warm|spaces|||||2,000|||| ||The Height
Methodist
Church - towards|||media|projector|||2,000|||| ||Emmanuel
Church
LEP - towards||craft and chat group|||||2,000|||| ||Other||||||||||290| |||||||||36,000|||54,075| ## ## |8|NET INCOMING
RESOURCES|AFTER|TRANSFERS|TRANSFERS|||2023|2022|| |---|---|---|---|---|---|---|---|---|---| ||This is stated after charging/(crediting):||||||E|f.|| ||Accountant/Independent
examiner's
fees||||||||| ||Report||||||700||704| ||Depreciation||||||6,190|6,|190| |9|STAFF INFORMATION||||||2023|2022|| |a|Staff costs||||||||| ||Stipends
and salaries||||||42,586|57,099|| ||Employer's
Pension contributions||||||7322|6,947|| ||Employer's
Nl contributions||||||3,389|3,621|| ||||||||53,297|67,667|| ||No staff member was paid more than 260,000p.a. in either||||year.||||| |b|Key management
personnel||||||||| ||The key management
ofthe charity comprise the trustees,||||which includes|the ordained|members
ofstaff who are||| ||ex officio members
ofthe Circuit Meeting||but do not receive||any payment|specifically for|acting as trustees.||| ||The other trustees
do not receive|any remuneration||for their|services.||||| ||The total remuneration
benefits ofthe key||management||||||| ||Stipends||||||39,963|42,300|| |c|Average staff numbers||||||||| ||The average
number of members|ofstaff|was as follows:-||||||| ||||||||2023|2022|| ||||||||Average|Average|| ||||||||number|number|| ||Ordained
staff (office holders
not|employees)|||||||| ||Lay employees||||||||| |10|TANGIBLE FIXED ASSETS||||||Long||| |---|---|---|---|---|---|---|---|---|---| |||||||Freehold
land|leasehold||| |||||||&buildings|Properties|Total|| ||Cost||||||||| ||As at September
1 2022|||||200,000|485,745|685,745|| ||As at August 312023|||||200,000|485,745|685,745|| ||Depreciation||||||||| ||As at September
1 2022|||||10,664|38,856|49,520|| ||Charge for the year|||||1,333|4,857|6,190|| ||As at August 312023|||||11,997|43,713|55,710|| ||Net book value||||||||| ||As at August 31 2023|||||188,003|442,032|630,035|| ||As at Augus t312022|||||189,336|446,889|636,225|| |11|FIXEDASSET INVESTMENTS|||||2023||2022|| |||||||E|||| ||Market value brought
forward|||||662|||692| ||Income distributed||||||||(30)| ||Market value carried forward|||||662|||662| ||Investments
at fair value comprise:||||||||| ||Cash held within
investment|portfolio||||662|||662| |||||||662|||662| ||||Unrestricted|funds|Restricted funds||Endowment|funds|| ||||2023|2022|2023|2022|2023|2022|| ||Market value brought forward||||||662||692| ||Income distributed||||||||(3o)| ||Market value carried forward||||||662||662| |||||2023|2022| |---|---|---|---|---|---| |12|DEBTORS||||| ||Income receivable|||1,716|200| ||Prepayments
8 other debtors|||15,151|20,138| |||||16,867|20,338| |||||2023|2022| |13|CURRENT ASSET|INVESTMENTS||f|f| ||Property transferred|from other Managing|Trustees|478,900|361,000| ||Unrealised
gain on revaluation|||(202,500)|117,900| ||Property
held for resale|||276,400|478,900| |||||2023|2022| |14|CREDITORS falling|due within one year|||| ||Assessments
in advance|||20,622|22,651| ||Rental payments
in advance||||7,500| ||Other creditors|||17„705|5,000| ||Creditors
8 accruals|||3,050|2,090| |||||41,377|37,241| |Funds
in tru|st are monies collect|ed
by Circuit Churches|for Methodist
fun|ds
and not remit|ted
at the year|end. They|| |---|---|---|---|---|---|---|---| |are analysed|as follows:|World||Total|World||Total| |||Mission|other|2023|Mission|other|2022| |Brought forward|||||||| |Received
in|the year|381|791|1,173|57'l|918|1,489| |Paid over||(381)|(791)|(1,173)|(571)|(918)|(1,489)| |Carried forward|||||||| ## |16|ANALYSIS OF NET ASSETS|BETWEEN FUNDS|BETWEEN FUNDS|BETWEEN FUNDS|BETWEEN FUNDS|BETWEEN FUNDS|BETWEEN FUNDS|BETWEEN FUNDS||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||Fund balances at August 31|2023are represented|||||||by:-|Unrestricted|||Restricted||Endowment,|| ||||||||||||Funds||Funds||Funds|Total| ||Tangible fixed assets||||||||||630,035|||||630,035| ||Fixed asset investments||||||||||||||662|662| ||Net current assets||||||||||430,629|||2,877||433,506| ||||||||||||1,060,664|||2,877|662|1,064,203| ||Fund balances at August 31|2022 are represented|||||||by:-|||||||| ||Tangible
fixed assets||||||||||636,225|||||636,225| ||Fixed asset investments||||||||||||0||662|662| ||Net current assets||||||||||636,439|||2,909||639,348| ||||||||||||1,272,664|||2,909|662|1,276,235| |17|FINANCIAL INSTRUMENTS|||||||||||||||| ||The carrying
amounts
for each|category|||of|financial||instrument||||||||| ||is as follows:||||||||||||2023|||2022| |||||||||||||||||E| ||Financial assets|||||||||||||||| ||that are investments
measured||at|fair value||||||||||662||662| ||that are debt instruments
measured
at amortised cost||||||||||||198,463|||197,688| ||Financial
liabilities|||||||||||||||| ||measured
at amortised
cost||||||||||||(41,3/7)|||(37,241)| ||Financial assets measured
at amortised||||cost comprise; cash at bank and||||||in hand; income receivable||||and other debtors;|and| ||prepayments.|||||||||||||||| ||Financial
liabilities
measured
at||amortised||cost||comprise: trade creditors;||||other|taxes|and social security; accruals; and|||deferred| ||income.|||||||||||||||| |18|TAXATION|||||||||||||||| ||The Circuit is a registered
charity and is entitled||||||to claim annual|||exemption|from|UK corporation||tax.||| |19|CAPITAL COMMITMENTS|||||||||||||||| ||There were no capital commitments|||authorised|||and contacted|||for at the end of||the year (2022||ENil).||| |20|RECONCILIATION
OF NET MOVEMENT|||||IN FUNDS|||TO NET CASHFLOW|||FROIVI OPERATING ACTIVITIES||||| ||||||||||||||2023|||2022| ||Net income/(expenditure)
before||transfers||||||||||(212,032)|||198,256| ||Deduct/(add)
gains/(losses)
on|investments|||||||||||202,500|||(117,900)| ||Add back depreciation
on fixed|assets||||||||||||6,190||6,190| ||Deduct transfer
in of non cash|asset (property)||||||||||||||(149,000)| ||Deduct interest income shown|in investing||||activities||||||||(4,510)||(612)| ||Decrease/(increase)
in debtors|||||||||||||3,471||(1,252)| ||Increase/(decrease)
in creditors|||||||||||||4,137||5,544| ||Net cash generated
from/(used|||in) operating|||activities|||||||(244)||(58,774)| ## ## ## ##