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← South Warwickshire Methodist Circuit

2023-08-31-accounts

Appendix A Pege g
South Warwickshire Methodist Circuit
Circuit Meeting Membership
MINISTERS Rev Dr lain Ballard
Rev Jemima Strain
Rev Jeongsook
Kim		 To31 August 2023
Rev Sally Jones
Deacon Jane Mills
Rev Tins Brooker From I September 2023
OTHER MINISTERS RESIDING IN THE CIRCUI 7WHO WISH TO BEMEMBERS OF THE CIRCUIT MEETING
Rev E Brian Mason
Rev Richard Wilde
Rev Ros Murphy To 15 June 2023
CIRCUIT STEWARDS Trevor Pethick
David Witham
-Tress		 urer
Sheila Brown
LOCAL PREACHERS REPRESENTATIVES
Russell
Blackwall
CHURCH REPRESENTATIVES
Cubbington Derek Dwyer To 30 April 2024
David Chirnside To30 April 2024
Dale Street June Gabbitas
Jill Lloyd From 7 September 2022
Joanna Rhodes To31 March 2024
Mark Whitehouse From 7September 2022
David Sandy Fram 19May 2024
Kineton Roger Carter From 1 June 2023
Lesley Rimell
Kenilworth Sandra Quarterman From 7September 2022
Lindsey Sullivan From 1 July 2023
Sally McCawley From 1 September 2022
Jonathon
Burrows		 From 1 June 2023
Mickleton Mark Boulton To 30 October 2022
Timothy
Mead		 To30 October 2022
Redford Road Margaret
Bull
Andrew
Davidson
Stockton Heather
Chamberlain
Stratford upon Avon Janet Grant From I June 2023
Inc Henley in Arden Kathleen
Fraser		 To 31 August 2023
David Dumper To31 August 2023
Philip Ledgard From 1 September 2023
Margaret
Blakemore
Andrew Steels
Anne Oliver
Julia Barr From I June 2023
Ken Hayward From
1		 June 2023
Trevor Wills
Welford upon Avon Brian Bradley To20 February 2024
Edward Timmins From 20 February 2024
Maurice
Mills		 From 20 February 2024
Wegesbourne Carol Cave To20 March 2024
Roger Thompson To20 March 2024
Whitnssh Jan Tyrrell
OTHERS APPOINTED
Climate Change Mark Boulton
Safeguarding Penelope Sharpies
Archivist Edward
Royle

C
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0
al0Z		 0C
40
0
cs0		 al
t		 t
al00
U		 e
'00		 Yearended
31.8.23		 '0
C
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I
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II		 0
al
C
C4		 Year ended
31.8.22
Income
Charitable
activities
Assessments
from churches		 270,682 270,682 277,958 277,958
Lettings 8,644 8,644 11,409 11,409I
Other 38,788 38,788 21,738 21,738
Interest receivable 3,461 13,529 16,990 240 1,614 1,854
Total income 321,575 13,529 335,104 311,345 1,614 312,959
Expenditure
Stipends, salaries,
Nl, Pension		 260,908 260,908 261,419 261,419
District Assessment 56,832 56,832 57,420 57,420
Telephone
&travel		 12,594 12,594 12,254 12,254
Insurance,
utilities, etc		 20,739 20,739 20,210 20,210
Maintenance
on manses		 10,541 10,541 8,923 8,923
Office costs 9,995 9,995 12,047 12,047
Surplus properties 19,714 19,714 8,542 8,542
Other Expenditure 10,951 808 11,759 15,292 1,061 16,353
Grants and donations 627 627 3,239 3,239
Depreciation 1,521 1,521 720 720
Contributions
to District Advance		 Fund 12,500 12,500 19,160 19,160
Total expenditure 404,422 13,308 417,730 400,066 20,221 420,287
Net (expenditure) Iincome (82,847) 221 (82,626) (88,721) (18,607) (107,328)
Gains and losses on investment assets
Loss on disposal 12 I3,608) (3,608)
Loss on reclassification (204,187) (204,187)
Other recognised
gains and losses
Change
in fair value of property		 held for
sale 12 100,934 100,934 371,910 371,910
Reclassification
offunds
Transfers between funds (270,851) 270,851
Draw down from model trust 140,000 (140,000) 70,000 (70,000)
Net movement
in funds		 (116,372) 131,072 14,700 149,002 (88,607) 60,395
Reconciliation offunds:
Total funds brought
forward		 3.230,098 283.569 3.513.667 3,081,096 372,176 3,453,272
Total funds carried forward 3,113,726 414,641 3,528,367 3,230,098 283,569 3,513,667

Notes General Fund Circuit Model 31August 31August
(Unrestricted) Trust fund 2023 2022
(Unrestricted)
E
Tangible Fixed Assets
Land, buildings
&equipment		 2,541,685 2,541,685 2,540,803
Investment
property
Total lixed assets 2,541,685 2,541,685 2,540.803
Current Assets
urrent mvestments 12 480,078 480,0 8 648,323
Debtors and prepayments 13 17.069 2,433 19,502 18,517
Trustees for Methodist Church Purposes 562,623 562,623 283,339
Central Finance Board De osits 78,518 78,518 13,242
Cash at bank 11,370 11,370 29,375
Total current assets 587,03S 565,056 1,152,091 992,796
Creditors and Accruals (due In under 1yr) 14 14,994 150,415 165,409 19,932
Net current assets 572,041 414,641 9S6,682 972,864
Net assets S,113,726 454e642 3&528e367 3,513.667
Funds ofthe Circuit
General
Fund		 15 3,113.726 3,113,726 3,230,098
Circuit Model Trust Fund 15 414,641 414,641 283,569
Total Funds 3,113,726 414,641 3,528.367 3,513,667
Dated: 19June 2024

Year Year
ended ended
31.8.23 31.8.22
6 6
Cubbington 20,428 20,428
Dale Street 69,276 69,276
Fenny Compton 1,531
Henley
in		 Arden 6,024 6,024
Kenilworth 58,320 58,320
Kineton 6,524 6,524
Mickleton 1,915 7,660
Radford Road 8,412 8,412
Stratford upon Avon 41,136 41,136
Warwick 34,060 34,060
Welford on Avon 4,919 4,919
Wellesbourne 11,432 11,432
Whitnash 8,236 8,236
270,682 277,958

8.Interest receivable 8.Interest receivable 8.Interest receivable Year Year
Unrestricted Circuit Model ended ended
Trust Fund 31.8.23 31.8.22
s E 6 E
Central Finance Board 3,405 3,405 240
Trustees for Methodist Church Purposes 13,529 13,529 1,614
CAF Bank 56 56
Total 3,461 13,529 16,990 1,854
9.Stipends, Salaries and Associated costs Year ended
Staff Costs paid during the year were: 31.8.23 31.8.22
Ministers Total Tota
I
(Circuit Mission Administ-
Trustees) staff ration
6 6 6 6 6
Gross stipends and salaries 152,408 22,642 30,506 205,556 208,176
Employer's
National		 insurance costs 13,354 1,900 1,508 16,762 15,353
Pension costs 36,218 1,328 37,546 36,605
Apprenticeship Levy 811 104 129 1,044 1,285
Total staff costs 202,791 25,974 32,143 260,908 261,419
Average number offull time equivalent
number of		 staff employed
during the year were:
Ministers 5.12 5.49
Mission staff 1.00 1.17
Administration 1.19 1.4
7.31 8.06

Notes tothe Accounts for t
11.Tangible Fixed Assets		 he year en ded 31August 2023
Fixtures,
Menses Menses Fittings &
Land Buildings Equipment Total
Cost orvaluation f f E
Balance at 1September 2022 300,000 2,239,363 7,307 2,546,670
Additions 2,403 2,403
Disposals (1,061) (1,061)
Balance at 31August 2023 300.000 2,239363 8,649 2,548,012
Depreciation
Balance at 1September 2022 5,867 5,867
Disposals (1,061) (1,061)
Charge ofyear 1,521 1,521
Balance at31August 2023 6,327 6,327
Net book value
At 31August 2023 300,000 2,239,363 2,322 2,541,685
At 31August 2022 300,000 2,239,363 1,440 2,540,803
Basisofdepreciation Straight line
3years
Menses at 31August 2023 comprkm:
9 Northvale
Close. Kenilworth		 Occupied by Circuit Minister
48 Warwick Place, Leamington Spa Occupied by Circuit Minister
101West Street, Warwick Occupied by Circuit Minister
22 Gardiner
Road, Kineton		 Occupied by Circuit Minister
61Murcott Road East, Whitnash Occupied by Circuit Minister
Ie Hillside Road, Sirafford upon Avon Occupied by Circuit Minister

now recog nised as a cur rent asset investme nt.
f E
Balance at 1September 2022 648,323
Sale ofKnightcote
chapel		 (73,366)
Fair value ofMickleton chapel and hall 158,603
Ad)ustment to fair value of Fenny Compton chapel (57,669)
100,934
Sale ofMickleton manse - net proceeds (192,205)
adjustment to fair value (3,608)
(195,813)
Balance at 31August 2023
The fair value at 31August is made up ofthe following properties:
31August 31August
2023 2022
E E
Knightcote chapel 73,366
Fenny Compton chapel 113,435 171,104
Tysoe chapel 208,040 208,040
Mickleton manse 195,813
Mickleton chapel and hall 158,603

13.Debtors 31August 31August
2023 2022
6 6
Prepayments accrued income 19,502 18,517
14.Creditors due in less than one year 6 6
Accruals and deferred income 14,994 19,932
Other creditors 150,415
165,409 19,932
General Circuit
15.Reserves Fund Model Tota I
Trust
Fund
6 6 6
At 1September 2022 3,230,098 283,569 3,513,667
Net (expenditure)/ income for the year (82,847) 221 (82,626)
Gains and losses on investment assets (3,608) (3,608)
Other recognised gains and losses 100,934 100,934
Transfers between funds (270,851) 270,851
Drawdown
from CMTF		 140,000 (140,000)
At 31August 2023 3,113,726 414,641 3,528,367

Year ended 31August 31August Year ended 31August
2023 2022
Name of related party Relationship Description of Income Paid to or Income Paid to or
transaction from goods from goods
related provided related provided to
party to related party related
party party
Methodist Churches Churches Assessments
(share
within the South within the of Circuit costs)
Warwickshire Circuit Circuit 270,682 277,958
Wellesbourne A Circuit Grant for low energy
Methodist Church Church lighting 519
Warwick Methodist A Circuit Outreach project
Church Church 400
Wellesbourne A Circuit Outreach project
Methodist Church Church
162
Wellesbourne A Circuit Grants for Audio
Methodist Church Church Visual equipment 383
Stratford upon Avon A Circuit Grants for Audio
Methodist Church Church Visual equipment 2,294 2,294
Birmingham Methodist Methodist Assessment
(share		 of
District District in costs of District and
which Circuit Methodist
located Connexion) 57,420 57,420
Birmingham Methodist Methodist District Advance
District District
in		 Fund contribution
which Circuit
located 19,160 19,160
Mickleton Methodist Churches Assets transferred on
Church within the closure
Circuit 119,830
Fenny Compton and Churches Assets transferred on
Tysoe Methodist within the closure
Churches Circuit 421,144

poge 22 Responslbilitles of trustees As explained more lully in the tru5tees' responsibilities statement. the trustees are responslble for the preparation of the financiil Statements and for being satisfied that they give a true and fair view, and for such internal control as the trusteos determine ￿5 necessary tn Fnable the preparation of linéncial staternents that are free from rnaterial rnisstaternent. whether due to fraud or error. In preparing the financial statements. the trustees are responsible for asse55ing the charitls ability tD continue as a golng concern, disc105ing, as applicable, matters related io going concern and using the going concern basis of accountln8 unless the trustees either Intend tts Ilquldate the charlty or tc cease operation5. or have no realistic alternatlvo but to do so. Auditorf5 respon$lbllltles for the audlt of the flnanclal statements We have been appointed as audiior under section 144 of the Charities Act 2011 and report in accordance with regulètiuns made under section 154 Df that Act. Our objectives are to obtain reasonable assurance about whether the financlal statement5 as a whole are free from materlal misstatement, whether due to fraud or error. and to Issue an auditor's report that includes our oplnlon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audir conducted in accordance with ISAS IUKI will always detect a rnaterizl mlsstatement when it emlsts. Mlsstatement5 can arlse from fraud or error and are considered materlal It. ind1vldua1￿ or in the aggregate, they could reasonably be expetted to inll¢Jence the economic decisions of users taken on the basls of these financial Statements. Irregu13rities, including fraud, aro instances of non-compllancp with laws and re8ulatlons. We design procedure5 Sn Ilne with our responslbllitles. outlined above, to detect material rn155taternents in respect of irre8u13rities, Includln8 fraud. The extent to whlch our piocedures are capable of detectlng Irre8ularltles, Inclvding fraud Is dpt3lled below,, We identifled area5 of laws and regulatlons that could reasonably be expected to have a material effect on the financlal staternents and discussed the policies ènd procedures re8arding compliance. Speclflt areas consldered were as follows.. Enquirln8 wlth management and others to gain an understandlng of the or8anisatltsn Itself Includin8 operatlon%, lin?ncial reporting and known Iraud or error. Fvaluatlng and understandSng the internal control system. Perlgrrnln8 analytltal procedures as expected or unexpected varlances in account balance5 or classes of trai Testing documentatlon supportlng account balances gr classes ol transactions. Because of the Inherent Ilmitations of an audit, therp. is a rlsk ihat we will not detect all irre8ularltles, Includlng those leadln6 to a matprlal mlsstaternent In the finèncial Siatements or non compliance wlth relulation. Thls risk increase5 the more that cornpliance wlth a law or regulation is removed frorn the Events and transacrions reflected in the flnanclal 5talements, as we will be less likely to become aware of Instances ot non-compliance. The risk Is also greater regardin8 A further descriptlon ol our responslblllties for the audlt of the Iln4ncial statements 15 located on the FlnanEial Reportin8 Councll'5 webslte at.. httP5.'//www,frc.org.uk/our Work/Audlt/Audit-and-assurance/Standards-and-8uldance/Standafds- and-¥uidance-lor-auditors/AuditOrs-re5ponslbil￿￿e5-f0r-audIVDeScrlptlul)-of-auditOrS-re5p0ns1bIl1tleS-for-audlt.aspx. fhls We communlcate wlth those charged w1th governance rÈgarding. among other matter5. the planned scope and tlmlng Df the audlt and 5¢gniflcant audit finding5, Includln8 any 5i8nilicant deficiencles In IntErn31 control that we identify durlng Use af our report This rEport Is made solely to the charlty's trustee5, as a body, In accordance with Part 4 tsf the Charities IAccounts and Reports) Regulation5 2008. Our audit wurk h35 been undertaken so rhat we might 5t3te to the charity's trustees those matter5 we are requ*red to State to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume fespon5ibility to anyone other than the charity and thE charit¢s trustees a5 a bodv, IW Hinks LLP Chartered Accauntants and statutory Auditors 19 Highfield Road Ed8ba5ton Birmin8harn West Midlands B15 3BH 19 June 2024