| Trustees | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| The members of | the South West | Wales Methodist Circuit |
meeting are the Charity | Trustees, membership | being | made | up | ||
| ofcircuit office holders, ministers | and representatives appointed by the local churches. |
||||||||
| Circuit Ministers | and officers | ||||||||
| Active Circuit Ministers | Rev Geoflrey Hays | ||||||||
| Rev Lorette Hinson | (to 31August 2023) | ||||||||
| Rev Hugh-John Wilson (0.2FTE) |
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| Deacon Jonathan Miller | |||||||||
| Deacon Kathy Hays | (0.49FTE) | ||||||||
| Circuit Stewards | Mrs Margaret Birch | ||||||||
| Miss Sharon Knox | |||||||||
| Mrs Hazel Towle (resigned June 2023) | |||||||||
| Mr Ian Ledgard | |||||||||
| Mrs Ann Maggs | |||||||||
| Adminisuator | Mrs Emily James | (toMarch 2023) | |||||||
| Name oftreasurer | acted as the principal officer overseeing |
the day to day financial | management | and accounting | for | the | |||
| circuit during the | year. | ||||||||
| Mrs Margaret Birch | |||||||||
| Trustees | |||||||||
| Deacon KHays | Appointed I September 2022 |
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| Rev GHays | Appointed 1 September 2022 |
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| EHarris | Appointed 1 September 2023 |
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| M Hinson | Appointed 1 September 2023 |
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| Deacon Jonathan | Miller | ||||||||
| SAmor | |||||||||
| DMorris | Resigned 31 August | 2023 | |||||||
| R Smith | |||||||||
| D Hodson | |||||||||
| M Birch | |||||||||
| M Thomas | |||||||||
| M Moules | |||||||||
| A Samuel | |||||||||
| ALewin | |||||||||
| H Towle | Resigned 31 August | 2023 | |||||||
| JBirch | |||||||||
| SDenman | Resigned 31August | 2023 | |||||||
| GDavies | Resigned 31 August | 2023 | |||||||
| M Evans | Resigned 31August | 2023 | |||||||
| N Williams | |||||||||
| ILedgard | |||||||||
| EGritfiths | |||||||||
| ALaws | Resigned 31August | 2023 | |||||||
| M Davies | |||||||||
| P Barkley | |||||||||
| Rev LHinson | Resigned 31 August | 2023 | |||||||
| LWilson | |||||||||
| Rev H Wilson |
| 31.8.23 | 31.8.22 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | |||||
| funds | funds | fund | funds | funds | |||||
| Notes | |||||||||
| INCOME AND | |||||||||
| ENDOWMENTS | FROM | ||||||||
| Donations and legacies |
2 | 150,835 | 150,835 | 515 | |||||
| Charitable activities |
|||||||||
| General | 127,020 | 63,491 | 190,511 | 188,386 | |||||
| lnvestmentincome | 3 | 38,804 | 38,804 | 20,516 | |||||
| Other income | 3,790 | 3,790 | 1,247 | ||||||
| Total | 320,449 | 63,491 | 383,940 | 210,664 | |||||
| EXPENDITURE | ON | ||||||||
| Raising funds | 12,582 | 12,581 | 12,680 | ||||||
| Charitable activities |
|||||||||
| General | 223,007 | 52,947 | 275,954 | 242,542 | |||||
| Total | 235,589 | 52,946 | 288,535 | 255,222 | |||||
| Net gains/(losses) | on | ||||||||
| investments | 85,000 | (58) | 84,942 | (129) | |||||
| NET | |||||||||
| INCOME/(EXPENDITURE) | 169,860 | 10,545 | (58) | 180,347 | (44,687) | ||||
| RECONCILIATION | OF | ||||||||
| FUNDS | |||||||||
| Total funds brought | forward | 1,224,606 | 34,383 | 3,648 | 1,262,637 | 1,307,324 | |||
| TOTAL FUNDS | CARRIED | ||||||||
| FORWARD | 1,394,466 | 44,928 | 3,590 | 1,442,984 | 1,262,637 |
| 31.8.23 | 31.8.22 | |||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | Total | ||
| funds | funds | fund | funds | funds | ||
| Notes | g | |||||
| FIXEDASSETS | ||||||
| Tangible assets | 10 | 420,083 | 420,083 | 430,255 | ||
| Investments | ||||||
| Investments | 11 | 3,590 | 3,590 | 3,648 | ||
| Investment property |
12 | 390,000 | 390,000 | 305,000 | ||
| 810,083 | 3,590 | 813,673 | 738,903 | |||
| CURRENT ASSETS | ||||||
| Debtors | 13 | 24,777 | 24,777 | 25,174 | ||
| Investments | 14 | 491,971 | 491,971 | 377,610 | ||
| Cash at bank | 103,353 | 44,928 | 148,281 | 154,979 | ||
| 620,101 | 44,928 | 665,029 | 557,763 | |||
| CREDITORS | ||||||
| Amounts falling due within one |
||||||
| year | 15 | (35,718) | (35,718) | (34,029) | ||
| NET CURRENT ASSETS | 584,383 | 44,928 | 629,311 | 523,734 | ||
| TOTAL ASSETSLESS | ||||||
| CURRENT LIABILITIES | 1,394,466 | 44,928 | 3,590 | 1,442,984 | 1,262,637 | |
| NET ASSETS | 1,394,466 | 44,928 | 3,590 | 1,442,984 | 1,262,637 | |
| FUNDS | 16 | |||||
| Unrestricted funds |
1,394,466 | 1,224,606 | ||||
| Restricted funds | 44,928 | 34,383 | ||||
| Endowment funds |
3,590 | 3,648 | ||||
| TOTAL FUNDS | 1,442,984 | 1,262,637 |
| 31.8.23 | 31.8.22 | ||||
|---|---|---|---|---|---|
| g | |||||
| Rents received | 21,888 | 18,857 | |||
| Dividend income | 17 | 10 | |||
| Deposit account interest | 16,899 | 1,649 | |||
| 38,804 | 20,516 | ||||
| INCOME FROM CHARITABLE ACTIVITIES | |||||
| 31.8.23 | 31.8.22 | ||||
| Activity | |||||
| Assessments | on churches | General | 127,020 | 130,336 | |
| Gmnts | General | 63,491 | 58,050 | ||
| 190,511 | 188,386 | ||||
| Grants received, included in the above, | are as follows: | ||||
| 31.8.23 | 31.8.22 | ||||
| f | |||||
| Synod Wales | 13,796 | 13,525 | |||
| Methodist Church Fund Connextionai |
grant | 13,795 | 13,525 | ||
| Clychdaith Cymru |
13,000 | 13,000 | |||
| Synod Cymru | 13,000 | 13,000 | |||
| Wales Synod | ofthe Methodist | Church | 5,000 | ||
| Wales Synod | Advance Fund | 9,900 | |||
| 63,491 | 58,050 |
| Support | |||||
|---|---|---|---|---|---|
| Direct | costs (see | ||||
| Costs | note 6) | Totals | |||
| 8 | 8 | g | |||
| General | 252,226 | 23,728 | 275,954 | ||
| 6. | SUPPORT | COSTS | |||
| Management | |||||
| 8 | |||||
| General | 23,728 |
| 31.8.23 | 31.8.22 | |||||
|---|---|---|---|---|---|---|
| 8 | ||||||
| Wages and salaries | 112,407 | 89,154 | ||||
| Social security | costs | 8,983 | 5,690 | |||
| Other pension | costs | 25,659 | 33,207 | |||
| 147,049 | 128,051 | |||||
| The average monthly | number ofemployees | during the year was as follows: | ||||
| 31.8.23 | 31.8.22 | |||||
| Employees | 5 | 3 | ||||
| No employees | received emoluments | in excess of860,000. |
| 9. | COMPARATIVES FORTHE STATEMENT | COMPARATIVES FORTHE STATEMENT | OF FINANCIAL | ACTIVITIES | ||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Endowment | Total | |||
| funds | funds | fund | funds | |||
| INCOME AND ENDOWMENTS FROM | ||||||
| Donations snd legacies |
515 | 515 | ||||
| Charitable activities |
||||||
| General | 130,336 | 58,050 | 188,386 | |||
| Investment income |
20,516 | 20,516 | ||||
| Other income | 1,247 | 1,247 | ||||
| Total | 152,614 | 58,050 | 210,664 | |||
| EXPENDITURE ON | ||||||
| Raising funds | 12,680 | 12,680 | ||||
| Charitable activities |
||||||
| General | 195,976 | 46,566 | 242,542 | |||
| Total | 208,656 | 46,566 | 255,222 | |||
| Net gains/(losses) on investments |
(3) | (126) | (129) | |||
| NET INCOME/(EXPENDITURE) | (56,045) | 11,484 | (126) | (44,687) | ||
| RECONCILIATION | OFFUNDS | |||||
| Total funds brought forward |
1,280,651 | 22,899 | 3,774 | 1,307,324 | ||
| TOTAL FUNDS CARRIED FORWARD | 1,224,606 | 34,383 | 3,648 | 1,262,637 |
| TANCIBLE FIXEDASSETS | |||
|---|---|---|---|
| Fixtures | |||
| Freehold | and | ||
| properly | fittings | Totals | |
| COST | |||
| At 1 September 2022 and 31August 2023 | 508,615 | 20,000 | 528,615 |
| DEPRECIATION | |||
| At 1 September 2022 | 79,360 | 19,000 | 98,360 |
| Charge for year | 10,172 | 10,172 | |
| At 31August 2023 | 89,532 | 19,000 | 108,532 |
| NET BOOKVALUE | |||
| At 31August 2023 | 419,083 | 1,000 | 420,083 |
| At 31August 2022 | 429,255 | 1,000 | 430,255 |
| FIXEDASSETINVESTMENTS | |||
| Listed | |||
| investments | |||
| MARKET VALUE | |||
| At 1 September 2022 | 3,648 | ||
| Disposals | (S8) | ||
| At 31August 2023 | 3,590 | ||
| NET BOOKVALUE | |||
| At 31August 2023 | 3,590 | ||
| At 31August 2022 | 3,648 |
| Fair value | at | 31August 2023 is represented by: |
|
|---|---|---|---|
| 6 | |||
| Valuation | in | 2017 | 295,000 |
| Valuation | in | 2018 | 10,000 |
| Valuation | in | 2023 | 85,000 |
| 390,000 |
| 13. | DEBTORS: | DEBTORS: | AMOUNTS FALLING DUE WITHIN ONE YEAR | AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
|---|---|---|---|---|---|---|---|
| 31.8.23 | 31.8.22 | ||||||
| g | |||||||
| Other debtors | 12,000 | 10,500 | |||||
| Prepayments | 12,777 | 14,674 | |||||
| 24,777 | 25,174 | ||||||
| 14. | CURRENT | ASSETINVESTMENTS | |||||
| 31.8.23 | 31.8.22 | ||||||
| E | |||||||
| Trustees Interest Fund | 491,971 | 377,610 | |||||
| 15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||
| 31.8.23 | 31.8.22 | ||||||
| Deferred income | 32,844 | 30,214 | |||||
| Accrued expenses | 2,874 | 3,815 | |||||
| 35,718 | 34,029 | ||||||
| 16. | MOVEMENT IN FUNDS | ||||||
| Net | |||||||
| movement | At | ||||||
| At | 1.9.22 | in funds | 31.8.23 | ||||
| 8 | g | ||||||
| Unrestricted | funds | ||||||
| General fund | 846,996 | 55,499 | 902,495 | ||||
| Circuit Model | Trust | 346,728 | 114,361 | 461,089 | |||
| Designated | 30,882 | 30,882 | |||||
| 1,224,606 | 169,860 | 1,394,466 | |||||
| Restricted funds | |||||||
| Deacon Project | 34,290 | 10,638 | 44,928 | ||||
| New People | New Places | 93 | (93) | ||||
| 34,383 | 10,545 | 44,928 | |||||
| Endowment | funds | ||||||
| Endowment | fund | 3,648 | (58) | 3,590 | |||
| TOTAL FUNDS | 1,262,637 | 180,347 | 1,442,984 |
| Net movement in funds, included in the above are as follows: |
Net movement in funds, included in the above are as follows: |
|||
|---|---|---|---|---|
| Incoming | Resources | Gains and | Movement | |
| resources | expended | losses | in funds | |
| f, | f. | |||
| Unrestricted funds |
||||
| General fund | 157,988 | (187,489) | 85,000 | 55,499 |
| Circuit Model Trust | 161,481 | (47,120) | 114,361 | |
| Designated | 980 | (980) | ||
| 320,449 | (235,589) | 85,000 | 169,860 | |
| Restricted funds | ||||
| Deacon Project | 53,591 | (42,953) | 10,638 | |
| New People New Places | (93) | (93) | ||
| Llanelli Deacon | 9,900 | (9,900) | ||
| 63,491 | (52,946) | 10,545 | ||
| Endowment funds |
||||
| Endowment fund |
(58) | (58) | ||
| TOTAL FUNDS | 383,940 | (288,535) | 84,942 | 180,347 |
| Comparatives for movement |
in funds | |||
| Net | Transfers | |||
| movement | between | At | ||
| At 1.9.21 | in funds | funds | 31.8.22 | |
| Unrestricted funds |
||||
| General fund | 1,065,128 | 71,968 | (290,100) | 846,996 |
| Circuit Model Trust | 184,636 | (128,008) | 290,100 | 346,728 |
| Designated | 30,887 | (5) | 30,882 | |
| 1,280,651 | (56,045) | 1,224,606 | ||
| Restricted funds | ||||
| Deacon Project | 22,530 | 11,760 | 34,290 | |
| New People New Places | 369 | (276) | 93 | |
| 22,899 | 11,484 | 34,383 | ||
| Endowment funds |
||||
| Endowment fund |
3,774 | (126) | 3,648 | |
| TOTAL FUNDS | 1,307,324 | (44,687) | 1,262,637 |
| Incoming | Resources | Gains and | Movement | ||
|---|---|---|---|---|---|
| resources | expended | losses | in funds | ||
| Unrestricted | funds | ||||
| General fund | 151,626 | (79,655) | (3) | 71,968 | |
| Circuit Model Trust | 843 | (128,851) | (128,008) | ||
| Designated | 145 | (150) | (5) | ||
| 152,614 | (208,656) | (3) | (56,045) | ||
| Restricted funds | |||||
| Deacon Project | 53,050 | (41,290) | 11,760 | ||
| Administrator | grant | 5,000 | (5,000) | ||
| New People | New Places | (276) | (276) | ||
| 58,050 | (46,566) | 11,484 | |||
| Endowment | funds | ||||
| Endowment | fund | (126) | (126) | ||
| TOTAL FUNDS | 210,664 | (255,222) | (129) | (44,687) |