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|TRUSTEES REPORT AND ACCOUNTS|FOR THE YEAR ENDED 31AUGUST 2022 (|
|---|---|
|REFERENCE AND ADMINISTRATIVE|DETAILS (Continued)|
|Local Church Representatives:||
|Streatham||
||Carl Opare-Addo|
||Tina Rawlings|
||Jacob Arkaah|
||Pat Ashworth|
|Tulse Hill|Christine
Armor|
||Kwadwo Asamoah-Boadu|
||Emmanuel
Bentsi-Abban|
||Agnes Baiden|
||Carmen Garnet Rose|
||Trevor Hyde|
|Brixton Hill|Kathy Rennalls|
||Janet Oppong|
||Robert Smyth|
||Enley Taylor|
||Kofi Kyei|
||Eva Kyei|
||Nike Musa|
|Mestyn Road|Franclsca Gaspar|
||Nana Hamoa Dormon|
||Akuba Forson|
|Railton Road|Comfort Babawale|
||Temitope Tayo|
||Jennifer
Davis|
||Andy Kalamuso|
|Clapham|Solomon Quaye|
||Dorothy Blincoe|
||Antonia
Buamah|
||Sharon Bryan|
||Regina Carrena|
||Ola Fadugba|
||Fiona Owusu|
|Stockwell||
||Rebecca Ekang|
||Leticia Quayson|
||Alice Aduku|
||Nathaniel
Beury|
||Lorna Simpson|
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|STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES|FOR THE YEAR|FOR THE YEAR|FOR THE YEAR|ENDED 31AUGUST|ENDED 31AUGUST|ENDED 31AUGUST|2022|2022|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||Note||Unrestricted
Restricted|||||Total||2021|
|INCOIVIING RESOURCES|||||||f|f|||||
|Charitable
Activities|||3.1||||289,080|0||289,080||291,863|
|Investment
income|||||||105,342|22||105,364||100,776|
|Other Income|||3.3||||859|0|||859|2 500100|
||||||||~395281|22||395|303|2802 739|
|RESOURCES EXPENDED|||||||||||||
|Expenditure
on Raising Funds|||4.1.4||||116,202|4||116,206||25,274|
|Expenditure
on Charitable
Activities|||4.2.3||||504,363|||504,372||1,637,013|
|Others|||4.3||||~35 147|||~35|147|14358|
|TOTAL RESOURCES USED|||||||~655712|13||655|725|1676645|
|NET {DEFICIT)/ INCOME FOR THE YEAR Before Recognised|||||||Gains||||||
|||||||(260,431)||9||(260,422)||1,216,094|
|GAINS ON REVALUATION
OF FIXED||ASSETS FOR||THE CIRCUIT'S USE|||||||||
|Revaluation
Gains on Properties|||||||0|0||||250,000|
|GAINS ON REVALUATION
OF FIXEDASSETS INVESTMENTS|||||||||||||
|Revaluation
Gains on Properties|||||||0|0||||220,017|
|PRIOR YEAR ADJUSTMENTS|||||||||||||
|Tangible
Fixed Assets|||7.1|||||||||1,820,899|
|Fixed Assets Investments|||7.2||||0|0||||-373,034|
|BALANCE BROUGHT FORWARD|||||11,173,788|||7,139||11,180,927||8 046 951|
|BALANCE CARRIED FORWARD|||||10,913,357|||7,148||10,020,505||11180927|
|All activities are derived|from|continuing||operations|||||||||
|There are no further recognised||(losses)/ gains other||||than the
(deficit)/income||||for the|above||
|financial years.|||||||||||||
|The notes to the financial statements|||form an||integral|part ofthese||financial||statements.|||
||||||||||page 10||||
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|FIXEDASSETS|||unrestricted|Restricted|T0TA L|2021|
|---|---|---|---|---|---|---|
|||Note|||||
|Tangible
Fixed Assets||8.1|5,550,000|0|5,550,000|5,550,000|
|Investments||8.2|3420.0DD|0|342D DDD|3.420 017|
|Total Fixed Assets|||09?0,030|0|8,970,000|8,970,017|
|CURRENT ASSETS|||||||
|Investments|||1,496,112|0|1,496,112|2,000,980|
|Debtors||11|300,060|0|300,060|217,305|
|Bank and cash balances||12||~48|~4
421|129,261|
||||22,031440|7,148|2,038,593|2,347,546|
|CREDITORS: Amounts|falling||||||
|due within one year||13|08088|0|00008|13I3636|
|TOTAL NET CURRENT|ASSETS||1 943357|7 148|1 950 505|2210910|
|TOTAL ASSETSLESS|CURRENT||||||
|LIABILITIES|||10 0'l3 367|'7 148|10920505|11 100,027|
|FUNDS||14|||||
|Restricted
Funds||14.1||7,148|7,148|7,139|
|Unrestricted
Funds||14.2|1D913357||1D313357|~1117378|
||||10913357|7 148|10920 505|11180927|
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|NOTES TO|THE FINANCIAL STATEMENTS FOR THE YEAR|THE FINANCIAL STATEMENTS FOR THE YEAR|ENDED 31,AUGUST|2022|( Continued||)|||
|---|---|---|---|---|---|---|---|---|---|
|||||||2|0|2|1|
||||Unrestricted
Restricted||Total||Unrestricted|Restricted|Total|
||||Funds
Funds||2022||Funds|Funds|2021|
||||E|E|F.||E|E|E|
|4.2EXPENDITURE ON CHARITABLE ACTIVITIES||||||||||
|4.2.1|DIRECT SPENDING|||||||||
||District Assessment||55,248||65,248||6S,248||55,248|
||Stipends, Pension and NIC||204,375||204,375||177,711||177,711|
||Salaries and NIC||26,091||26,091||25,984||25,984|
||Circuit Administration||8,369||8,369||8,153||8,153|
||Ministers'
travelling|expenses|~5||||ZS||758|
||||306586||~306586||~2778 4||277854|
|4,2.2|SUPPORT FOR CHARITABLE|||||||||
||ACTIVITIES|||||||||
|4.2.2.1|Premises Expenses|||||||||
||Repairs to Manses||3,269||3,259||13,328||13,328|
||Manses Utilites||12,918||12,918||19,216||19,216|
||Quinquinal
Report||2,340||2,340||0||0|
||Insurance||6692||6692||L544||~854|
||||25219||~25 19||~41 Oi%||41 088|
|4.2.2.2|Governance costs|||||||||
||Audit Fees||3,078||3,078||3,150||3150|
||Accountancy
Fees||1,759||1,759||1,800||1,800|
||Book-Keeping Charges||4,476||4,476||0||0|
||TMCP Charges||4,147||4,155||1,666||1,675|
||Bank Charges||177||177||0||0|
||Legal Fees||3,600||3,600||0||0|
||Other Professional|Charges|9||0||437705||437705|
||||~17237||~17246||444 323||~444
30|
|4.2.2.3|Others|||||||||
||DAF Contribution||138,077||138,077||54,667||54,657|
||TMCP Levy on sale ofproperty||0||0||804,916||804,916|
||Telephone||2,531||2,531||3,142||3,3.42|
||Post, Print and Stationery||3@50||3,750||2,955||2,956|
||Youth Expenses||4,260||4,260||8,060||8,060|
||Ascension Trust Project||5,520||5520||0||0|
||Apprenticeship
levy||~1183
~165321||~18
~155 21||I)
jt73 741||g
~841|
||SUMMARY OFEXPENDITURE ON GI1ARITABLE ACTIVITIES|||||||||
||Direct Spending||306,586||306,586||277,854||277,854|
||Support for charitble|activites||||||||
||Premises|Expenses|25,219||25,219||41,088||41,088|
||Governance||17,237||17,246||444,323||444,330|
||Others||~155321||~15321||jb73 741||873741|
||||||~04 372||1 637 QM||1 637013|
|4.3 OTHER||||||||||
||Sundry Expenses||8,452||8,452||8,358||8,358|
||Subscription||2,267||2,267||0||0|
||Payroll Costs||960||960||0||0|
||Staff Training||295||295||0||0|
||ITand Webslte Expenses
Bad Debts||1,173
~00||1,173
~0||0
~5000||6 0(L0|
||Total Other expenditure||5147||35147||14358||~1435|
||||||||||page 17|
##
|LAMSETH CIRCUIT METHODIST CHURCH|LAMSETH CIRCUIT METHODIST CHURCH|LAMSETH CIRCUIT METHODIST CHURCH|LAMSETH CIRCUIT METHODIST CHURCH||||
|---|---|---|---|---|---|---|
|NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31,AUGUST 2022||||( Continued|)||
|5.GAINS|ON REVALUATION
OF||FIXED ASSETS FOR THE CIRCUIT'5 OWN USE||||
|||||2022||2021|
||Revaluation|gains on properties||||2~50 000|
|6, GAINS|ON REVALUATION
OF||FIXED ASSETS INVESTMENTS||||
|||||2022||2021|
|||||f||F|
||Revaluation|gains on properties||||220000|
|7.PRIOR|YEAR ADJUSTMFNT||||||
|||||2022||2021|
||Revaluation|Gains (Deficit )on properties|||||
||7.1|Tangible|Fixed Assets||||
||7.2|Fixed Assets Investments||||~373034|
|||||||page 18|
##
|NOTES TO THE FINANCIAL STATEM|ENT|S FOR THE YE|AR|ENDED|31AUGUST 202|2 (con|tinued
)|
|---|---|---|---|---|---|---|---|
|8.FIXEDASSETS||||||||
|8.1TANGIBLE FIXEDASSETS|||||||Freehold|
||||||||l.and &|
||||||||Buildings|
|COST OR VAI.UATION|||||||f|
|As at 1September 2021and 31,August||2022|||||5,550,000|
|DEPRECIATION||||||||
|As at 1September 2021and 31August||2022||||||
|NET BOOK VALUE||||||||
|As at31August 2022|||||||5,550,000|
|As at 31August 2021|||||||5,550,000|
|8.2 FIXEDASSETSINVESTMENTS||||||||
|COST OR VALUATION|||||||Freehold|
||||||||Land &|
||||||||Buildings|
||||||||f|
|As at 1September 2021and 31,August||2022|||||3,420,000|
|NET BOOK VALUE||||||||
|As at 31August 2022|||||||3,420,000|
|As at 31August 2021|||||||3,420,000|
|No depreciation
has been provided
in respect oftangible
fixed assets for the year
are ofthe opinion that the maintenance
programmes
to which these properties
ensures that the estimated
residual values are not less than the stated values,||||||asthe trustees
are subjected to||
|9, INVESTIVIENTS|||||2022||2021|
|The following funds are held by TMCP on behalf ofthe|||Circuit||f|||
|Sale ofProperty- Trust 15175|||||22III20||22,378|
|De-Bourcier Bequest - Trust 8976|||||4,322||4,322|
|De-Bourcier Bequests - 8976A|||||3,114||3,109|
|De-Bourcier Bequests - B976B|||||11,948||11,926|
|Bernard Searle Bequest - Trust 17694|||||1,559||1,556|
|Circuit Model Trust - Trust 22136|||||1,452,749||1997689|
||||||1,496,112||2,000,980|
|T M C P Investments
are held at cost less accumulated|||impairment||losses.|||
##
|LAMBETH CIRCUIT METHODIST CHURCH|LAMBETH CIRCUIT METHODIST CHURCH|LAMBETH CIRCUIT METHODIST CHURCH|||||
|---|---|---|---|---|---|---|
|NOTES TO THE FINANCIAL STATEMENTS FOR THE|||YEAR ENDED 31AUGUST 2022 (continued|||)|
|13.CREDITORS: Amounts
fallin|due|within one|ear|2022|2021||
|||||||f|
|Local Churches Assessments
received||in advance||4,219||4,370|
|Amounts
due to other Methodist|Circuit|||||26,102|
|Due toother Methodist
Circuit||||60,000||60,000|
|Sundry Creditors||||13,402||23,984|
|Accruals and other Creditors||||10,467||22,180|
|||||&8,088||136,636|
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|14.1RESTRICTED FUNDS||||||2022||2021|||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||f||f|||
|Balance Brought Forward||01/09/2021||||7I139||7,132|||
|Incoming Resources|||||||22||16||
|Resources Expended|||||||-13||||
|Balance Carried|Forward 31/08/2022|||||~7148||~7139|||
|14,1.2 DETAILED RESTRICTED FUNDS|||||||||||
||||||2|0|2|1|||
||Ministerial||Benevolent|TOTAL|Ministerial|||Benevolent||Total|
||Training||Fund|2022|Training|||Fund||2021|
|||||f||f||f||f|
|&al. Brought Forward|4,037||3,102|7,139||4,032||3,100||7132|
|Receipts||||22|||11||5|16|
|Payments||9|-4|-13|||-6||-3||
|Bal.Carried Forward|~4043||~3105|~7148||~4037||~3102||~7139|
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|NOTES TO THE FINANC|IAL STATEMENTS FOR THE YEA|IAL STATEMENTS FOR THE YEA|IAL STATEMENTS FOR THE YEA|R ENDED 31AU|G|UST 2022 Ic|ontinued|)||
|---|---|---|---|---|---|---|---|---|---|
|17.APPORTIONMENT|OF SUPPORT COSTS AMONGST|||ACTIVITIES.||||||
||||||2|0|2|1||
||Charitable|Expenditure||Total||Charitable|Expenditure||Total|
||Activities|to raise funds||||Activities|to raise|funds||
|GOVERNANCE||||||||||
||f||||||f||f|
|Audit|3,078||1,122|4,200||3,150||1,050|4,200|
|Accountancy|1,759||641|2,400||1,800||600|2,400|
|Book-keeping charges|4,476||1,632|6108||||||
|Bank charges|177||64|241||||||
|T M C P Charges|4,156||1,515|5,671||1,668||7|1,675|
||~13646||~4974|~18620||6~618||~I65?|~8275|
|OTHERS||||||||||
||f||f|f||f|||f|
|Telephone|2,531||922|3,453||3,142|1047||4,189|
|Post, Print and stationery|3,750||1,367|5,117||2,956|965||3,941|
|Sundry Expenses|8,452||3,080|11,532||8,358|2766||11,144|
|Subscription|2,267||826|3,093||0||||
|Staff training|295||107|402||0||||
|IT and Website costs|~1173||~47|~1600||0||||
||L488|E|6729|25197||14456|48814||~19274|
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