| Circuit No | 22/15 | |||
|---|---|---|---|---|
| Minister | Rev'd Marlin T Smlthson | |||
| Church | Stewards | Max Tears | ||
| Goeff Cawthom | ||||
| Susan ONer | ||||
| Hazel Wallis | ||||
| Martin Watson | ||||
| Hilary Taylor | ||||
| Eric Roberts | ||||
| Church | Treasurer | Peter Sroekhuizen |
| Page 5 Name of Church |
gingham | Methodist | Church | Number | 1158426 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Statement of Financial Activities |
SOFA) for the | ear ended 31 Au | ust 2022 | |||||||
| Total | Total | |||||||||
| 2021-22 | 2020-21 | |||||||||
| Income and Endowments | from: | |||||||||
| Donations and le acies |
49,186 | 49186 | 46,859 | |||||||
| -Collections and tax credit |
41,614 | 41,614 | 41,659 | |||||||
| - Donations, grants and fundralsln |
7,572 | 7,572 | 5,200 | |||||||
| -Legacies Charitable activities |
19,434 | 19,434 | 4,361 | |||||||
| - Fund raising -Communl lettlngs |
19,434 | 19,434 | 4,361 | |||||||
| Other trading activities | 89,716 | 89,716 | 58,638 | |||||||
| -Commercial lettlngs |
89,716 | 89,716 | 58,638 | |||||||
| -Mlsceganeous Investments |
124 | 67 | 191 | 231 | ||||||
| Other | 1,191 | 1191 | 350 | |||||||
| -Internal organlsatlons |
1,191 | 1,191 | 350 | |||||||
| - Mlsceganeous | ||||||||||
| Total | 159,651 | 159,716 | 110,439 | |||||||
| Expenditure an: |
||||||||||
| Salaries, NIC &Penslort casts | ||||||||||
| Grcult Assessment | 41.,476 | 41,476 | 41,476 | |||||||
| Contribution towards Communi |
worker | 5000 | 5000 | |||||||
| Maintenance/Cleanln | 17,250 | 17,250 | 10255 | |||||||
| Utgltles )insurance heat |
and 8 ht, water | etc | 6,153 | 6,153 | 4,989 | |||||
| Rent and storage | ||||||||||
| Estate agent &legal costs Interest a ble on loans |
)re commercial | lettlngs) | 8,210 | 8,210 | 10,548 | |||||
| Internal organisations Grants and Donations |
1,094 1,254 |
1,094 1,254 |
681 2,520 |
|||||||
| Other ex endlture | 6,759 | 6,759 | 12,610 | |||||||
| Total | 87,196 | 87,196 | 88,079 | |||||||
| Net Income/ expenditure) |
72,455 | 67 | 72 522 | 22 360 | ||||||
| Transfers between funds |
(66) | |||||||||
| 72,521 | 72,522 | 22,360 | ||||||||
| other recognised gains / Net movement In funds |
losses) | 72,521 | 193 192 |
193 72,329 |
476 22,836 |
|||||
| Reconcglatlon offunds: Total funds brought forward Total funds carried farward |
1,537,667 1,610,188 |
3,651 3,459 |
1,541,318 1,613,847 |
1,518,482 1,541,318 |
||||||
| For Information only Money received end passed an Balance brought forward from Mst year Offerings/Gifts -received for External Organisatlons Offedngs/Gifts -passed to External Organlsatlons Balance confed forward |
to External | Organlsatlons | 1,533 5,849 747 |
399 4,519 1,533 |
| Page6 | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| gingham | Methodist | Church | |||||||||||
| Balance | Sheet as at | 31August | 2D22 | ||||||||||
| Unrestricted | Designated | Restricted | Endowment | Totals this year | Tatals last year | ||||||||
| (Unrestrlctedj | Funds | ||||||||||||
| Tangible Fixed Assets |
|||||||||||||
| Notes | |||||||||||||
| Land 8 Bugdlngs | 1,334196 | 1,334196 | 1,334,196 | ||||||||||
| Equipment | |||||||||||||
| Investment properties Investments |
500,000 | 2,878 | 2,878 | 3,070 | |||||||||
| Totofflxed assets | 1,834,196 | 2,878 | 1,837,074 | 1,837,266 | |||||||||
| Current Assets | |||||||||||||
| Debtors and Pr ayments Cash at Bank and In hand |
22,738 58,046 |
2,477 15,126 |
25,215 '73,172 |
13,988 20,701 |
|||||||||
| Trustees for Methodist Church Pu uses d oslts Central Finance Board De osits |
9,837 | 581 9,837 |
581 50,273 |
||||||||||
| Dther-Property Totol |
current assets | 90,621 | 17,603 | 581 | 108,805 | 85,543 | |||||||
| re It C under 1yr) |
5 | 10 | 54,820 | 1,112 | 55,932 | 52,791 | |||||||
| Nat current assets Babgltles |
35801 | 16,491 | 581 | 52,873 | 32,752 | ||||||||
| Total assets less current | llabVDlcrs | 1,869,997 | 16,491 | 0 | 3 | 459 | 1889947 | 1,870,018 | |||||
| Loans | 12 | 276,300 | 276~0 | 328,700 | |||||||||
| Provisions for Rabgltles and charges | |||||||||||||
| Net assam | 1,593,697 | 16,491 | 0 | 3,459 | 1,613,647 | 1,541,318 | |||||||
| Funds ofthe Church | |||||||||||||
| Unrestricted funds |
1,593,697 | 16491 | 1610188 | 1,537,667 | |||||||||
| Restricted funds Endowment funds |
0 | 3,459 | 3,459 | 3,651 | |||||||||
| Total Funds | 13 | 1,593,697 | 16,491 | 0 | 3,459 | 1,613,647 | 1,541,318 | ||||||
| Opening | balance | Receipts | Payments | Net Recehsts/ Payrnerlts |
Adjustments | Closing Balances |
|||||||
| Internal Or anlsatlons |
|||||||||||||
| 33rd Nottlngham The Boys' Brigade and Girls' Association Total |
1,375 1,375 |
1,191 1,191 |
1,094 1,094 |
97 97 |
1,472 2,472 |
| Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting | Basis ofaccounting |
|---|---|---|---|---|---|---|---|---|---|---|
The financial statements have been prepared under the Charities Act 2011In accordance with the 2014version ofAccounting and Reporting by Charities: Statement ofRecommended practice (SORp) appgcable to charities preparing their accounts In accordance with the Financial Reporung Standard for |
||||||||||
| Smaller Entitles appucable In the UK (affective from 1lanuary 201S)—the Charities SORP (FRSSE)—In replacement ln its related 2008 Regulations and In accordance with the 'true and fair override' provision contained therein. " |
for th«SORP's 2005 | version specified | ||||||||
| Funds | ||||||||||
| The funds held constitute: | ||||||||||
| General Funds held for any purpose ofthe Church which ere unrestricted. Restricted funds which are held for |
a narrower | purpose. | ||||||||
| Endowment funds arising from legacies received. |
||||||||||
| Details of each material fund are disclosed In note 13. Any funds may be represented by more |
than lust cash. | |||||||||
| Accounting policies |
||||||||||
| These accounts have been prepared on the basis of historical cost except that Investments are |
shown at their | market value at the end | ofthe year, | on the | ||||||
| accruals basis to show a true and fair view ofthe Church's financial position and activities. |
||||||||||
| Income | ||||||||||
| Income IsIncluded ln the Statement of Flnandai Activities (SOFA) when the Church becomes entitled tothe resources, |
and the trustees | are reasonably | ||||||||
| certain they wgl raceWe the resources; and the monetary value can be measured with suffldent |
rellabglty. | |||||||||
| Expenditure This Is recognised when a llabglty Is incurred, or a constructive obligation arises, that results In the payment as soon as an outflow ofeconomic benefit ls considered more likely than not under the legal or ccmstructive |
being unavoidable. Liabilities are recognued obggatlon committing the Circuit to payout |
|||||||||
| resources. | ||||||||||
| Grants | ||||||||||
| Grants made by the Church from its own funds are recognised In full at the time ofagreement or when the Church accepts that there Is a legal or operational obligation to make the payment. When the grant Is recurrent over mare than one year the balance payable In future years ls treated as a provision for future commitments In the Balance Sheet against the appropriate fund, the provision being released In future years as Instalments are paid |
||||||||||
| In accordance with the originally agreed terms, |
||||||||||
| VAT | ||||||||||
| The church Is VAT registered and where applicable Income and expenses are net ofthe related |
VAT. Where | the church | Is not entitled | to redalm | Input | |||||
| VAT this Is charged with the expenses to which It refers. | ||||||||||
| Tangible fixed assets for use by the Church | ||||||||||
| These are capltagsed ifthey can be used for more then one year, and individually cost at lea*E1,000. |
||||||||||
| The freehold properly Is shown at cost. |
||||||||||
| Investment Properties |
||||||||||
| The commercial units and offic space are deemed to be held for Investment purposes In that |
they are held | for letting | an a commerdal basis to |
generate | ||||||
| Income to serssce lang term loans. | ||||||||||
| Investments | ||||||||||
| Investments are valued In the balance sheet at market value at the year end. Investment income IsIncluded |
In the accounts when receivable | and any | ||||||||
| gains or losses on revaluation at the year end are shown ln the SOFA. |
||||||||||
| Debtors and Prepayments | ||||||||||
| Debtors Indude, VAT recoverable and Circuit Asseoment paid in advance. |
||||||||||
| Creditors | ||||||||||
| Creditors Include accruals for expenses, Interest on loans, VAT payable and deferred income In respect ofcommercial |
rents received | ln advance. |
| Church (non | |||||
|---|---|---|---|---|---|
| Investment) | Investment | ||||
| land and | properties | (land | |||
| buildings | and bugdlngs) | Total | |||
| E | E | E | |||
| Cost or valuation | |||||
| Balance brou ht |
and carried forward | 1,334,196 | 500,000 | 1,834 196 | |
| Accumulated depreciation |
|||||
| Balance brought | and carried forward | ||||
| Net book value | |||||
| Broughtforward Carried forward |
1,334,196 1,334,196 |
500,000 500,000 |
1,834,196 1,834,196 |
| he properties have not been deprecia osL |
ted as in the opinion of the |
trustees their market value is not les | s than original |
|---|---|---|---|
| Investments | This year | Last year | |
| E | E | ||
| CFB Managed Mixed Fund units |
2,878 | 3,070 | |
| nalysis of debtors and prepayments | This year | Last year | |
| E | E | ||
| Prepayments Other |
12,455 12,760 |
12,694 1,294 |
|
| Total debtors and prepayments | 25,215 | 13,988 | |
| Analysis of creditors and accruals | |||
| Commercial letting Income received Accrual for Interest payable on loans Expense Accruals Tenants Service Charges Tenants Deposit Current portion of loans (note 12) VAT Payable |
In advs (General) |
1,435 2,757 1,505 36,200 6,167 |
4,561 1,665 2,806 920 3,000 36,200 3,639 |
| Total Current Uablgties | 55,932 | 52,791 |
| Detailed analysis ofindividu | al fund |
movements | |||||
|---|---|---|---|---|---|---|---|
| Unrestricted Funds |
|||||||
| Fund Name | Opening Balance |
Income | Expenditure | Transfers | Revaluation gains/losses |
Claslng Balance |
|
| General fund | 1,512,024 | 136,348 | (60,758) | 566 | 1,588,180 | ||
| Property fund (designated) Friendship fund |
20,460 1,516 |
19,434 555 |
(23,403) (740) |
16,491 1,331 |
|||
| Rainbow fund |
190 | 362 | 552 | ||||
| Lively Spirits fund | 1,561 | 1,258 | (687) | (500) | 1,632 | ||
| Dove Hospice | 514 | (514) | |||||
| Charity Fund | 27 | 503 | 530 | ||||
| Internal organlsations |
1,375 | 1,191 | (1,094) | 1,472 | |||
| Totals | 1,537,667 | 159,651 | (87,196) | 1,610,188 | |||
| Endowment Funds |
|||||||
| Fund Name | Opening | Income | Expenditure | Transfers | Revaluation | Closing | |
| Balance | gains/losses | Balance | |||||
| Memo Mrs 5 ELangstaff H N Fewster Bequest G H White Bequest FAShep enson Be uest |
120 2,717 390 416 |
58 | (58 | (171) (22) |
120 2,546 368 417 |
||
| Blngham | Totals | 3,651 | 67 | 66 | (193) | 3,459 |
| This ear |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Name of | related party | Relationship | Description | of | Income from | Payments | to | Loans to / (from) / | Amounts | owed | ||||||||
| transaction | related party | related party | (return ofloens | by / (to) | related | |||||||||||||
| during tha | during tha | year | fram) | related party | party as | an 31- | ||||||||||||
| year | during the year | Aug-2022 | ||||||||||||||||
| I MA | ||||||||||||||||||
| Methodist | Church | Fund | ||||||||||||||||
| Mission ln | Britain | Fund | ||||||||||||||||
| Fund forgupport | of | |||||||||||||||||
| Pre | ||||||||||||||||||
| Fund for Property | ||||||||||||||||||
| World Mission Fund |
||||||||||||||||||
| Grant ham | & Vale | of | Grcult to | Greeit Assessment, | 46,476 | 10,000 | ( | 42,500) | ||||||||||
| Belvoir Circuit | which the | contribution | to | |||||||||||||||
| Church | Community | worker | ||||||||||||||||
| belongs | and loan to | assist | ||||||||||||||||
| with the financing | of | |||||||||||||||||
| the bugdlng | ||||||||||||||||||
| Various private | Individuals | Various | Loans to assist | with | ( 5,000) | |||||||||||||
| - no loan exceeds | 55,000 | individuals | the financing | of | the | |||||||||||||
| In total | assodated | bugdlng | ||||||||||||||||
| with the | ||||||||||||||||||
| Total | 46,476 | 10,000 | ( | 47,500) | ||||||||||||||
| Last ear |
||||||||||||||||||
| Name ofrelated party | Relationship | Description of transaction |
Income from related party |
Payments to related party |
Loans to/ (from) / (return ofloans |
Amounts by/(to) |
owed related |
|||||||||||
| during the | during the year | fram) related party | party as on 31- | |||||||||||||||
| year | during the year | Aug | 2021 | |||||||||||||||
| IMA | ||||||||||||||||||
| Methodist | Church Fund | |||||||||||||||||
| Mission In Britain Fund |
||||||||||||||||||
| un orsupport |
o | |||||||||||||||||
| Presbyters | &Deacons | |||||||||||||||||
| Fund for Property | ||||||||||||||||||
| World Mission | Fund | |||||||||||||||||
| Drantham | &Vale of | Circuit to | Circuit Assessment, | 46,476 | 10,000 | ( 52,500) | ||||||||||||
| Belvolr Circuit | which the | contribution | to | |||||||||||||||
| Church | Community | worker | ||||||||||||||||
| belongs | and loan to | assist | ||||||||||||||||
| with the financing | of | |||||||||||||||||
| the bugdlng | ||||||||||||||||||
| Various private | individuals | Various | Loans to assist with | ( 5,000) | ||||||||||||||
| - no loan | exceeds 55,000 | Individuals | the flnandng | ofthe | ||||||||||||||
| in total | assodated | bugdlng | ||||||||||||||||
| with the | ||||||||||||||||||
| Total | 46,476 | 10,0M | ( 57,500) |