## 






## 

## 

## 



## 

## 



## 

## 

## 

## 

## 

## 

## 

## 

## 



## 

## 



## 

## 

## 

## 



## 

## 

## 

## 



## 

|Trustees||||||||||
|---|---|---|---|---|---|---|---|---|---|
|The members of|the South West|Wales Methodist<br>Circuit|meeting are the Charity||Trustees, membership||being|made|up|
|ofcircuit office holders, ministers||and representatives<br>appointed by the local churches.||||||||
|Circuit Ministers|and officers|||||||||
|Active Circuit Ministers||Rev Geoflrey Hays||||||||
|||Rev Lorette Hinson||(to 31August 2023)||||||
|||Rev Hugh-John<br>Wilson (0.2FTE)||||||||
|||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<br>officer overseeing|||the day to day financial|management|and accounting||for|the|
|circuit during the|year.|||||||||
|||Mrs Margaret Birch||||||||
|Trustees||||||||||
|Deacon KHays||Appointed<br>I September 2022||||||||
|Rev GHays||Appointed<br>1 September 2022||||||||
|EHarris||Appointed<br>1 September 2023||||||||
|M Hinson||Appointed<br>1 September 2023||||||||
|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<br>and legacies||||2|150,835|||150,835|515|
|Charitable<br>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<br>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<br>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<br>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<br>funds|||||1,394,466|1,224,606|
|Restricted funds|||||44,928|34,383|
|Endowment<br>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<br>Church Fund Connextionai|||grant|13,795|13,525|
|Clychdaith<br>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<br>snd legacies||515|||515|
||Charitable<br>activities||||||
||General||130,336|58,050||188,386|
||Investment<br>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<br>activities||||||
||General||195,976|46,566||242,542|
||Total||208,656|46,566||255,222|
||Net gains/(losses)<br>on investments||(3)||(126)|(129)|
||NET INCOME/(EXPENDITURE)||(56,045)|11,484|(126)|(44,687)|
||RECONCILIATION|OFFUNDS|||||
||Total funds brought<br>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<br>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<br>in funds, included in the above are as follows:|Net movement<br>in funds, included in the above are as follows:||||
|---|---|---|---|---|
||Incoming|Resources|Gains and|Movement|
||resources|expended|losses|in funds|
|||f,||f.|
|Unrestricted<br>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<br>funds|||||
|Endowment<br>fund|||(58)|(58)|
|TOTAL FUNDS|383,940|(288,535)|84,942|180,347|
|Comparatives<br>for movement|in funds||||
|||Net|Transfers||
|||movement|between|At|
||At 1.9.21|in funds|funds|31.8.22|
|Unrestricted<br>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<br>funds|||||
|Endowment<br>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)|



## 

##