| Trustees' Annual Report | ||||
|---|---|---|---|---|
| farthe year ended 31stAugust 2021 | ||||
| Legal framework and organisation |
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| Full Name: Bromsgrove &Redditch Methodist Circuit {"the Circuit" ) |
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| The Circuit has pastoral oversight of10Churches in Bromsgrove and Redditch. Itexists |
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| to support the Christian Mission ofthose Churches. |
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| Charity Registration Number: 1145630 |
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| Date ofregistration 26th January 2012 |
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| Communication address: Circuit Office Ecumenical Centre 6Evesham Walk Reddltch 8974EX |
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| The members ofthe Bromsgrove &Redditch Methodist Circuit Meeting are the Charity's Trustees. |
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| Membership ofthat Meeting consists ofCircuit office holders, ministers and |
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| representatives appointed by the local churches. |
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| Afull list ofTrustees isshown asAppendix Atothis report. Trustees are appointed by |
the | existing | ||
| Trustees. They include ex-officio office holders and representatives ofthe |
10churches. | |||
| Circuit Ministers and Stewards are shown on the front page. |
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| Circuit Lay Workers: Mrs Sally Meredith |
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| Mrs Anne Batchelor {from1stFebruary 2022) | ||||
| Administrators: Mrs Carol Baker {retired 30th April 2021) |
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| Mrs Christine Chambers {retired 31stMarch 2021) | ||||
| The principal officer overseeing the financial management and accounting forthe Circuit |
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| MrJohn Wyatt | ||||
| Independentexaminer:GarryRutter | ||||
| The Oakley, Kidderminster Road |
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| Droitwich WR9 9AY |
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| Banks: a) Central Finance Board ofthe Methodist Church |
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| b) Trustees for Methodist Church purposes | ||||
| c) HSBC | ||||
| Financial statements forthe year ended 31stAugust 2021 |
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| Income | ||||
| Income is primarily drawn from the assessments paid tothe Circuit by its 10Churches. |
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| The Covid-19 pandemic has meant that fora significant part ofthe year the 10Churches have |
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| not been open for Worship nor other meetings. Despite this the incomes of | ||||
| the Churches have been maintained closeto their pre-Covid levels |
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| The 10Churches have all been able tocontinue paying their assessments |
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| tothe Circuit atthe agreed amounts. The financial state ofthe Churches | ||||
| has been closely monitored by the Circuit throughout the year and todate. |
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| Rental income relates tothe rental ofthree manses temporarily occupied by 3rd parties and |
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| rental income from the hire ofBlackwell Church Hall. |
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| Expenditure | ||||
| Stipend expenditure has increased in line with Methodist Conference approval. |
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| There was no significant grant made during this year. |
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| The District Assessment and Levy is used tofund the work ofthe wider Methodist Church. |
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| There was significant expenditure on the Manses this year incurred to maintain and enhance |
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| the value ofthose Manses. | ||||
| Fund balances | ||||
| Asat31August 2021the net current assets less liabilities were E370650.The decrease | ||||
| compared with last year Isaccounted for in the net deficiency ofF37,129. |
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| Plans forthe year ending 31stAugust 2022 | ||||
| These have been prepared on the basis that there will be3full time ordained staff. |
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| and the layworker listed In the legal framework paragraph above. Anew lay worker |
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| has been engaged from 1stFebruary 2022to assist at5tudley and Church | Hill churches. | |||
| There isasyet no replacement forthe two adminsitrators who retired during the year. |
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| The administration work is being undertaken by volunteers from among the Trustees |
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| until the vacant posts are filled. | ||||
| The inability toappoint replacement administrators has allowed the Circuit to reduce |
assessments | |||
| requested from the Churches by Ssl' inthe year ended 31stAugust 2022compared |
with | |||
| those requested in the year to31stAugust 2021. |
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| Basis ofpreparation and legal framework |
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| The Grcuit's financial statements forthe year ended 31August 2021have been prepared |
in | |||
| accordance with the Charities Act2011and the Charities: Statement ofRecommended | Practice | |||
| as applicable tothe financial Reporting Standard {FRS)102 |
| Trustees Annual Report | ||||||
|---|---|---|---|---|---|---|
| forthe year ended 31stAugust 2021-continued | ||||||
| Aims and organisation ofthe Grcuit: |
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| The Orcuit's aim isto assist and oversee 10Churches and toactasa resource provider forthe Methodist | ||||||
| Church within an area around Birmingham, Warwickshire and Worcestershire. |
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| The purposes ofthe Methodist Church are and always have been, the advancement of: |
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| a)The Christian faith in accordance with the doctrinal standards and discipline ofThe Methodist Church; |
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| b) Any charitable purpose forthe time being ofany organisation within The Methodist Church structure; |
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| c)Any charitable purpose forthe time being ofany society or institution subsidiary orancillary toThe Methodist Church; |
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| d) Any purpose forthe time being ofany charity being a charity subsidiary tooranciliary toThe Methodist | Church | |||||
| The Circuit attempts toachieve it's aims by: | ||||||
| e)organising and resourcing regular public actsofworship open to members ofthe Church and to non-members |
alike. | |||||
| f)teaching Christianity through sermons, courses and small groups. |
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| g) resourcing pastoral work including visiting the sick and bereaved. |
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| h) leading religious assemblies in schools. |
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| I)promoting Chrisbanity through the staging ofevents and services. |
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| I) providing Chaplaincy services to local institutions. |
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| Public benefit | ||||||
| The trustees have had regard tothe Charity Commission's guidance on public benefrt. In particular the Circuit's aims |
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| are inclusive ofthe public as a whole and the aims also benefit all those ofthe Christian faith and beliefs. |
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| Achievements and performance |
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| During the year the Circuit has been instrumental in assisting it's 10Churches to maintain buildings |
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| and outreach which encourage Christian Worship. |
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| Structure, governance and management |
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| The governing document for the Circuit isthe Deed ofUnion (1932)and Methodist Church Act (1976) |
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| Detailed governance arrangements are outlined within the Constitutional Practice and Discipline ofthe Methodist |
Church | by | ||||
| order ofthe annual conference ("CPD"). | ||||||
| Day to day management ofthe Orcuit is undertaken by the Orcuit Leadership team along with the Local Preachers' |
meeting. | |||||
| Trustee training | ||||||
| Guidance published by The Methodist Connexion tosupport the running ofthe Orcuit, specifically the leaflet |
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| 'The Role ofaTrustee in The Methodist Church' isavailable to all new Trustees. |
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| Related parties | ||||||
| The Circuit iswithin the Birmingham District ofThe Methodist Church. The District isaccountable to Methodist Conference. |
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| The following Methodist Churches are within the Circuit: Alcester, Bromsgrove, Catshill, Crabbs Cross, Emmanuel |
Redditch, | |||||
| Lickey End, StAndrew's Church Hill, Studley, The Bridge at Headless Cross and Rowney Green Alvechurch. |
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| Emma nuel Redditch, The Bridge at Headless Cross and Rowney Green are Local Ecumenical Parntnerships |
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| with other Christian denominations. |
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| Risk management | ||||||
| Major risks are identified and recorded by the Circuit Leadership Team with professional advice taken as required. |
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| There isa regular annual review process undertaken and recorded. |
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| Income and Expenditure is monitored and iscompared with the approved annual budget on a half yearly basis |
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| todetect trends as part ofthe risk management process to avoid unforeseen calls on reserves. |
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| Safeguarding | ||||||
| Every person has a value and dignity which comes directly from the creation ofmale and female in God's own image and | ||||||
| likeness. Christians see this potential asfulfilled by God's recreation of us in Christ. Among other things this |
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| implies a duty tovalue all people as bearing the image ofGod and therefore to protect them from harm. | ||||||
| Methodist Connexional practice outlines commitment tothe following principles: |
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| ~ the care and nurture of,and respectful pastoral ministry with, all children, young people and adults |
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| ~the safeguarding and protection ofall children, young people and adults when they are vulnerable |
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| ~ the establishing ofsafe, caring communities which provide a loving environment where there isinformed |
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| vigilance astothe dangers ofabuse. | ||||||
| ~the careful selection and training ofall those with any responsibility within the Church, in line with Safer |
Recruitment | |||||
| principles, including the use ofcriminal records disclosures and registration with the relevant vetting and |
barring schemes. | |||||
| ~the response, without delay, to every complaint made which suggests that an adult, child oryoung person |
may | |||||
| have been harmed and cooperating with the police and local authority in any investigation. |
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| ~ seeking towork with anyone who has suffered abuse, developing with them an appropriate ministry ofinformed |
pastoral care. | |||||
| ~seeking tochallenge any abuse ofpower, especially by anyone in a posiuon oftrust. |
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| ~ seeking tooffer pastoral care and support, including supervision and referral tothe proper authorities, to |
any | |||||
| member ofour church community known to have offended against a child, young person orvulnerable |
adult. | |||||
| ~ In all these principles we will follow legislation, guidance and recognised good practice | ||||||
| The Circuit has committed itself to ensuring the implementation ofConnexional Safeguarding Policy, government |
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| legislation, guidance and safe practice inthe CIrcuit and inthe Churches. |
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| The Circuit has committed itself tothe provision ofsupport, advice and training for lay and ordained people that |
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| will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting |
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| the welfare ofchiidren and adults who may be vulnerable. | ||||||
| Reserves policy | ||||||
| The reserves policy ofthe trustees Isto hold no more than 6 months normal expenditure after taking account of |
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| potential and promised suppo*of the 10churches in mission including property maintenance. |
| Notes to | Circuit Model | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| the | General Fund | Trust Fund | Restricted | Endowment | |||||
| accounts | (Unrestricted) | (Unrestricted) | Funds | Funds | Total | 2020 | |||
| 6 | E | 6 | |||||||
| Income | |||||||||
| Donations and legacies | |||||||||
| income from monetary investments |
11 | 856 | 23 | 20 | 910 | 2,640 | |||
| Income from investment | properties | 31,920 | 31,920 | 22,200 | |||||
| Assessments on churches |
1&4,047 | 184,047 | 190,518 | ||||||
| Blackwall Kali transferred |
to | circuit | 424,558 | ||||||
| Property sales | 1,184 | 1,184 | |||||||
| Other charitable income |
4,199 | 1,620 | 5,819 | 5,353 | |||||
| Total income | 220,177 | 2,040 | 1,643 | 20 | 223,880 | 645,269 | |||
| Expenditure | 261,214 | ||||||||
| Grants and donations | 575 | 575 | 11,807 | ||||||
| Salaries, national insurance |
and pension | 144,073 | 144,073 | 145,179 | |||||
| Employees travel and expenses | 6,359 | 6,359 | 7,441 | ||||||
| Property maintenance | 45,474 | 45,474 | 37,190 | ||||||
| District assessment 8 levy |
42,120 | 11,319 | 53,439 | 56,S01 | |||||
| Depreciation | |||||||||
| Circuit office expenses | 3,587 | 3,587 | 1,700 | ||||||
| Other outgoings | 5,310 | 535 | 1,860 | 7,707 | 8,683 | ||||
| Total expenditure | 247,498 | 11,854 | i 1,&60 | 2 | 261,214 | 268,901 | |||
| Gains/(lasses) on monetary |
investments | {3) | 208 | 205 | -19 | ||||
| Gains/&losses) on investment |
properlies | ||||||||
| Net incomel(expenditure) | (27,321) | (9,814) | (220) | 226 | (37,129) | 376,349 | |||
| Transfers between funds | 18,428 | (18,400) | {9) | (19) | |||||
| Other gains | |||||||||
| Net | movement in funds | (8,893) | (28,214) | (229) | 207 | 37,129) | 376,349 | ||
| Total funds brought forward | 1,807,926 | 362,131 | 7,629 | 1,136 | 2,178,822 | 1,802,473 | |||
| Total funds | earned forward | 1,799,033 | 333,917 | 7,400 | 1,343 | 2,141,693 | 2,178,822 |
| Notes to | Circuit Model | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| the | General Fund | Trust Fund | Restricted | Endowment | ||||||
| accounts | (Unrestricted) | (Unrestricted) | Funds | Funds | Totai | 2020 | ||||
| E | E | f | ||||||||
| Fixed Assets | ||||||||||
| Menses 8 equipment | 835,000 | 835,000 | 890,000 | |||||||
| Investment properties |
934,558 | 934558 | 879558 | |||||||
| Investments | 147 | 1,338 | 1,485 | 1,278 | ||||||
| Total | fixed | assets | 1,769,558 | 147 | 1,338 | 1,771,043 | 1)770,836 | |||
| Current Assets | ||||||||||
| Debtors and prepayments | 10 | 14,722 | 14,722 | 35,730 | ||||||
| Loans by the | Circuit to churches | 10 | 86,138 | 86,138 | 94,537 | |||||
| Deposits with | TMCP | 247,779 | 7,240 | 5 | 255,024 | 274,840 | ||||
| Deposits with | CFB | 9,924 | 9,924 | 9,180 | ||||||
| Deposits with | HSBC | 22,886 | 13 | 22,899 | 10,019 | |||||
| Total current | assets | 47,532 | 333,917 | 7,253 | 5 | 388,707 | 424)306 | |||
| Current liabilities | ||||||||||
| Creditors (due in under | 1 year) | 18,057 | 18,057 | 16,320 | ||||||
| Total current liabilities | 18,057 | 18,057 | 16,320 | |||||||
| Net current | assets | 29,475 | 333)917 | 7,253 | 5 | 370,850 | 407,98(I | |||
| To&lassets | less current liabilities | |||||||||
| 1,799,033 | 333,917 | 7,400 | 1,343 | 2,141,993 | 2,178,822 | |||||
| Funds ofthe | Circuit | |||||||||
| General Fund | (Unrestricted) | 1,799,033 | 1,799,033 | 1,807,927 | ||||||
| Circuit Model | Trust Fund | |||||||||
| (Unrestricted) | 333,917 | 333,917 | 362,130 | |||||||
| Total Unrestricted | Funds | 2,132,950 | 2,1?0,057 | |||||||
| Restricted Funds |
7,400 | 7,400 | 7,629 | |||||||
| Endowment Funds |
1,343 | 1,343 | 1,136 | |||||||
| Total | Funds | 1,799,033 | 333,91? | ?,400 | 1,343 | 2,141,693 | 2,178,82 |
| Notes tothe financial statements | Notes tothe financial statements | |||
|---|---|---|---|---|
| 1Accounting policies |
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| Charity Information | ||||
| Bromsgrove 6 Redditch Circuit ofthe Methodist Church isa trust which is registered |
with | the | ||
| Charity Commission in England and Wales. The registered office is:-Circuit Office, |
Ecumenical | |||
| Centre, 6 Evesham Walk, Redditch B974EX. |
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| Accounting convention |
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| The financial statements have been prepared in accordance with the Circuit's governing |
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| document and "Accounting and Reporting by Charities. Statement ofRecommended |
Practice | |||
| applicable to charities preparing their accounts in accordance with the Financial Reporting |
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| Standard applicable in the UK and Republic of Ireland (FRS 102)"(as amended for |
accounting | |||
| periods coinmencing from 1January 2016).The Circuit is a trust as defined by FRS 102. |
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| The Circuit has taken advantage ofthe provisions in the SORP for charities applying |
FRS102 | |||
| Update Bulletin 1 not to prepare a Statement ofCash Flows. |
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| The financial statements are prepared in steriing, which isthe functional currency ofthe Circuit. |
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| Monetary amounts in these financial statements are rounded to the nearest 6. |
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| Going concern | ||||
| At the time ofapproving the financial statements, the Trustees have a reasonable |
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| expectation that the Circuit has adequate resources to continue in operational |
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| existence forthe foreseeable future. Thus the Trustees continue to adopt the going |
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| concern basis ofaccounting in preparing the financial statements. |
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| Funds | ||||
| The funds held constitute. 1 General Fund which is unrestricted and is held forany |
purpose | of | ||
| the Circuit. 2.The Circuit Model Trust Fund has wide purposes defined in Standing |
Orders | and | ||
| is categorised as unrestricted. 3.Restricted funds which are held fora specified purposes. |
4. | |||
| Endowment funds which are also held for specified purposes. Details ofRestricted |
and | |||
| Endowment Funds are disclosed in the final note tothese accounts. Any funds may be |
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| represented by more than just cash. |
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| Income | ||||
| Income is included in the SOFA when the Circuit becomes entitled to it, the trustees |
are | |||
| reasonably certain they will receive it; and the monetary value can be measured with sufflcient |
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| reliability. | ||||
| Expenditure | ||||
| Expenditure is recognised when a liability is incurred, ora constructive obligation arises, which |
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| results in the payment ofthe expense being unavoidable. Liabilifies are recognised |
as soon | as | ||
| an outflow ofeconomic benefit is considered more likely than not under the legal or |
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| constructive obligation committing the Circuit to pay. |
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| Grants | ||||
| Grants made by the Circuit from its own funds are recognised in full at the time ofagreement |
or | |||
| when the Circuit accepts that there is a legal oroperational obligation to make the payment. |
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| VAT | ||||
| Since the Circuit is not VAT registered, all input VAT is charged with the expense to which |
it | |||
| refers. | ||||
| Tangible fixed assets for use by the Circuit | ||||
| Tangible fixed assets are capitalised ifthey can be used for more than one year, and cost at |
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| least f500.Tangible fixed assets other than buildings are written offover their useful economic |
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| lives. | ||||
| Freehold Property, being Ministers' residenses or Manses, is shown in the accounts |
at 2015 | |||
| deemed values. ofwhich the land component isdeemed to be 6295,000. No depreciation |
is | |||
| provided on the buildings on the freehold properties because the trustees consider |
the current | |||
| residual fair value ofthe buildings to be not less than their deemed value. The properties |
have | |||
| been reviewed for impairment. For details see note 6. |
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| Investment | properties | |||
| Other investment properties include Blackwefl Church Hall - which is shown at |
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| insured value when itwas transferred to the Circuit during the year to31stAugust |
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| 2020. | ||||
| The other investment properties are shown at fair value. No depreciation is provided |
on | |||
| investment properties as the trustees consider the current residual value to be not less than |
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| their insured orfair value. For details see note 7. | ||||
| investments | ||||
| Investments are valued in the balance sheet at market value at the year end, investment |
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| income is included in the accounts when receivable and any gains orlosses on revaluation |
at | |||
| the year end are shown in the SOFA. |
| Debtors | and Prepayments | |||
|---|---|---|---|---|
| This is mainly in respect ofMinisters' Stipends paid in advance plus various other smaller |
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| prepayments. | ||||
| Creditors | ||||
| Creditors include sundry expenses accrued, and the 1stquarter ofnext year's assessment |
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| received in advance. |
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| Financial | instruments | |||
| The Circuit has elected to apply the provisions ofSection 11'Basic Financial Instruments' |
and | |||
| Section 12'Other Financial Instruments Issues' ofFRS102to all ofits financial instruments. |
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| Financial instruments are recognised in the Circuit's balance sheet when the Circuit becomes |
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| party to the contractual provisions ofthe instrument. |
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| Financial assets and liabilities are offset, with the net amounts presented in the financial |
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| statements, when there isa legally enforceable right toset offthe recognised amounts and |
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| there is an intention to settle on a net basis or to realise the asset and settle the liabiTity | ||||
| Basicfinancial assets | ||||
| Basic financial assets, which include debtors and cash and bank balances, are initially | ||||
| measured at transaction price including transaction costs and are subsequently cerned at |
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| amortised cost using the effective interest method unless the arrangement constitutes a |
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| financing transaction, where the transaction is measured at the present value ofthe future |
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| receipts discounted at a market rate ofinterest. Financial assets classified as receivable |
within | |||
| one year are not amortised. | ||||
| Impairment offinancial assets |
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| Financial assets, other than those held atfair value through income and expenditure, are |
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| assessed for indicators ofimpairment at each reporting date. Financial assets are impaired |
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| where there is objective evidence that, as a result ofone or more events that occurred after the | ||||
| initial recognition ofthe financial asset, the estimated future cash fiows have been affected. |
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| Ifan asset is impaired, the impairment loss is the difference between the carrying amount |
and | |||
| the present value ofthe estimated cash flows discounted at the asset's original effective |
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| interest rate. The impairment loss is recognised in net income/expenditure for the year. |
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| Ifthere isadecrease in the impairment loss arising from an event occurring after the |
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| impairment was recognised, the impairment is reversed. The reversal is such that the current |
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| carrying amount does not exceed what the carrying amount would have been, had the |
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| impairment not previously been recognised. The impairment reversal is recognised in net |
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| income/expenditure forthe year. |
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| Derecognition offinancial assets |
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| Financial assets are derecognised only when the contractual rights tothe cash flows from |
the | |||
| asset expire orare settled, or when the Circuit transfers the financial asset and substantially | all | |||
| the risks and rewards ofownership to another entity, or ifsome significant risks and rewards |
of | |||
| ownership are retained but control ofthe asset has transferred to another party that is able |
to | |||
| sell the asset in its entirety to an unrelated third party. |
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| Basicfinancial liabilities |
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| Basicfinancial liabilities, inciuding creditors and bank loans are iniTially recognised at |
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| transaction price unless the arrangement constitutes a financing transaction, where the debt |
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| instrument is measured at the present value ofthe future payments discounted at a market |
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| rate ofinterest. Financial liabilities classified as payable within one year are not amoitised. |
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| Debt instruments are subsequently cerned at amorfised cost, using the effective interest |
rate | |||
| method. | ||||
| Trade creditors are obligations to pay for goods orservices that have been acquired in the |
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| ordinary course ofoperations from suppliers. Amounts payable are ctassified as current |
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| liabilities ifpayment is due within one year orless. Ifnot, they are presented as non-current |
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| liabilities. Trade creditors are recognised initially at transaction price and subsequently |
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| measured at amortised cost using the effective interest method. |
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| Derecognition offinancial liabilities |
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| Financial liabilities are derecognised when the Circuit's contractual obligations expire or are |
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| discharged orcancelled. |
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| Taxation | ||||
| The Circuit is exempt from corporation tax on its charitable acbvities. |
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| Investments | ||||
| investments are stated at deemed market value. |
| There were no payments made to trustees |
There were no payments made to trustees |
for additional | for additional | services provided tothe Circuit, | services provided tothe Circuit, | exduding | stipends which are induded | in note | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 6below. However there were | expenses of | trustees. | ||||||||
| 2021 | 2020 | |||||||||
| Number ofTrustees paid expenses | ||||||||||
| Total amount paid |
F6,649 | 58,144 | ||||||||
| Expense payments primarily |
relate to reimbursement | for | telephone, | travel and computing | costs | |||||
| 3 | Fees | forexamination ofthe financial |
statements | |||||||
| 2021 | 2020 | |||||||||
| Independent examiner's fees financial statements |
for reporting | on the | F1,212 | K1,176 | ||||||
| Other fees (eg:advice, accountancy services) paid tothe independent examiner. |
NIL | NIL | ||||||||
| 4 | Paid | employees | ||||||||
| StaffCosts paid during the | year were | 2021 | 2020 | |||||||
| Gross wages, salaries and benefits in kind | 5113,800 | E'I | 15,762 | |||||||
| Employer's National Insurance costs |
59,170 | F8,835 | ||||||||
| Pension costs | 521,103 | 820,581 | ||||||||
| Total staff costs | 5144,073 | 6145,178 | ||||||||
| Average number offull-time | equivalent | |||||||||
| employees in the year was: |
| 6Tangible fixed assets Cost orvaluation |
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|---|---|---|---|---|
| Fixtures, | ||||
| fittings and | ||||
| Ilanses | equipment | Total | ||
| f. | ||||
| Cost orvaluation | ||||
| Balance brought foiward | 890,000 | 3,589 | 893,589 | |
| Transfer from investment | assets | 175,000 | 175,000 | |
| Revaluations | ||||
| Transfer to investment assets |
(230,000) | (230,000) | ||
| Balance carried forward | 835,000 | 3,589 | 838I589 | |
| Accumulated depreciation |
||||
| Balance brought forward | 3,589 | 3,589 | ||
| Charge foryear | ||||
| Revaluations | ||||
| Disposals | ||||
| Balance canied forward | 3,589 | 3,589 | ||
| Net book value | ||||
| Brought forward | 890,000 | - | 890,000 | |
| Balance cerned forward | 835,000 | - | 835,000 |
| 7 Investment assets | ||||
|---|---|---|---|---|
| Dwellings- | Former | fittings | ||
| previously | Church | and | ||
| Manses | Hall | equipment | Total | |
| Cost orvaluation | ||||
| Balance brought forward | 455,000 | 424,558 | 879,558 | |
| Transfer from Manses | 230,000 | 230,000 | ||
| Revaluations | ||||
| Transfer to Manses | (175,000) | (175,000) | ||
| Balance earned forward | 510,000 | 4%,558 | - | 934,558 |
| Net book value | ||||
| Brought forward | 455.000 | 424,558 | - | 879,558 |
| Balance camed fotward | 510,000 | 424,558 | - | 934,558 |