## ## |TABLE|OF|CONTENTS||| |---|---|---|---|---| |||||PAGE| |||Charity
Information||| |||Trustees
Report||2 to 6| |||Auditor's
Report||7to 10| |||Statement
of Financial|Activities|| |||Balance Sheet||12| |||Notes to the Financial|Statements|13to 24| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Note|Unrestricted|Restricted|Endowment|Total|2019| |---|---|---|---|---|---|---|---|---| |INCOMING
RESOURCES||||E|E|E|E|E| |Charitable
Activities|||3.1|183,881|0|0|183,881|212,314| |Investment
income|||3.2|104,617|0|103|104,720|83,494| |Other Income|||3.3|315|0|0|315|3017| |||||288,813|0|103|288,916|~298825| |RESOURCES EXPENDED||||||||| |Expenditure
on Raising Funds|||4.1|20,624|0|0|20,624|33,185| |Expenditure
on Charitable|Activities||4.2.3|242,961|0|10|242,971|275,414| |Others|||4.3|5,859|0|0|5,859|112,306| |TOTAL RESOURCES USED||||269,444|0|10|269,454|~420905| |Net income before investment||gains|in the year|19,369|0|93|19,462|-122,080| |Gains on Revaluation
of|Investments||5|0|0|-92|-92|64| |NET INCOME||||19,369|0|1|19,370|-122,016| |Transfer between
Funds:|||6|93|0|-93|0|| |NET INCOME FOR THE YEAR||||19,462|0|92|19p370|122~016| |BALANCE BROUGHT FORWARD||||3,773,926|2,336|5,214|3,781,476|~3903492| |BAlANCE CARRIED FORWARD||||3,793,388|2,336|5,122|3,800,846|~3782 476| ## ## |||||||||2020|||2019| |---|---|---|---|---|---|---|---|---|---|---|---| |FIXEDASSETS||||Note||||8|||| |||||||unrestricted|Restricted|Endowment|Total||| |Tangible Assets
Investments||||7.1
7.2||1,231,588
~2480 527|0
0|0
0|1 231 668
2,480,627|1 231688
~4527|| |Total Fixed Assets||||||3,712,315|0|0|3,712,315|3,712,315|| |CURRENT ASSETS|||||||||||| |Investments
Debtors
Bank and cash balances||||8
10
11||31
134,243
40 491|0
0
2,336|5,122
0
0|5,246
134,243
42 827||5,246
110,781
7405| |||||||1'74,765|2,336|5,122|182,316||123,433| |CREDITORS: Amounts||falling|||||||||| |due within one year||||12||~60 993|0.|0|~60993||54,272| |TOTAL NET CURRENT||ASSETS||||~113772|~2336|~5122|~121230||69,161| |TOTAL ASSETSLESSCURRENT|||||||||||| |LIABILITIES||||||~38260|2336|~5122|~3833545|3,781,476|| |CREDITQRS: Amounts||felkng|||||||||| |dua after the next 12 months||||13||~32699|0|0|32699||0| |FUNDS|||||3793386||2 336|5122|3800846|3|781476| |Endowment
Funds
Restncted
Funds
Unrestricted
Funds|||14.1
14.2
14.3||f
~3793388||2,336|f
5,122|5,122
2,386
~7|2
5,214
2,336
3,773,926|| ||||||~793388||2~336|~5122|~3800846|3,781,476|| |The notes on pages 13to24 form|||an integral|||part ofttfaae fIDSnoial||'
ants,|||| |Approved
by the
.
their behalf by:|ItttT||on|../Q. .- ...„**.**gf.......................2023 and signed||||||on|| |B|HIENNO||||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |3.INCOMING
RESOURCES|3.INCOMING
RESOURCES|3.INCOMING
RESOURCES|||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---| |3.1 Chantable
Activities income||||||||2|0|1||9|| |||||Unrestncted|Restncted|Endowment|TOTAL|Unmstricted||Restricted|Endowment||Total| |||||Funds|Funds|Funds|Fund|Fund||Fund|Fund||Fund| ||||||||2019||||||2018| ||||||||||||||6| |||Circuit assessments||183,881||0|183,881|212,314|||0||212,314| |32|Investment
income||||||||||||| |||Central Finance Board Interest||157||0|157|79|||0||79| |||TMCP Interest||0||103|103|15|||155||170| |||Rental Income||104460||0|104.460|83245|||0||83,245| |||||'I04I817||103|104,720|83,339|||155||| |3.3 Other||income|||||||||||| |||Collection to pass on||D|||0|0||2,575|||2 575| |||Others||315|||EIS|442||0|0||442| |||||315|||315|442||2 575|||3017| |4 RESOURCES
EXPENDED|||||||||||||| |4.1 EXPENDITURE ON RAISING|||FUNDS||||||||||| |||Pmperties
Repairs and Maintenance||1,488|||1,488|5,411|||||5,411| |||Pmperty
insumnce||3,523|||3,523|2,312|||||2 312| |||Management
Charges||3,224|||3,224|15.311|||||15.311| |||Audit Fees||1,516|||1,518|1,003|||||1,003| |||Accountancy
Fees||868|||668|5DI|||||501| |||LegaiFees||6,147|||6,147|6 707|||||6,707| |||Telephone|||||985|912|||||912| |||Post, Pnnt and Stationery||656|||656|193|||||193| |||Sundry Expenses||2.235|||2.235|835|||||835| |||||20,624|||20,624|33,185|||||33,185| |41.2|EXPENDITURE ON CHARITABLE ACTIVITIES||||||||||||| |42.1||DIRECT SPENDING|||||||||||| |||Distnct Assessment||59.484|||59.464|56.142|||||56,142| |||Stipends,
Pension and|NIC|113470|||113,470|109,302|||||ID9,302| |||Satanas and NIC||26,460|||28460|26,378|||||28,376| |||Training||2,949|||2,949|1,434|||||1,434| |||Treasurer
Expenses||4,850|||||||||| |||Ministers'
traveBmg expenses||2 169|||2 169|10042|||||10042| |||||211 382|||206532||||||~20| |4.2.2||SUPPORT FOR CHARITABLE|||||||||||| |||ACTIVO IES|||||||||||| |4.2.2.1||Premises Expenses|||||||||||| |||Repass to Menses||6,459|||6,459|36,551|||||36,551| |||Menses Insurance||4,929|||4,929|4779|||||4,779| |||Menses Counol Tax||6,512|||6,512|7,307|||||7,307| |||Menses Utilites||2,884|||2,884|5.036|||||5,036| |||Menses Management|costs||||0|3502|||||3502| |||||20784|||20 784|57 175|||||57 175| |4.2.2.2||Governance costs|||||||||||| |||Audit Fees||2,682||0|2,682|2,597||0|0||2 597| |||Accountancy
Fees||1,532||0|1,532|I 299||0|0||1,299| |||Bank Charges||10||D|10|0||0|0||0| |||TMCP Charges||0||10|10|15||0|10||25| |||Legal Fees||0||0|t)|3410||E|0||3410| |||||4224||1D|4234|7321|||10||7331| |4.2.2|3|Others|||||||||||| |||DAF Contnbution||I|||I|I||0|||1| |||Apprenticeship
Levy||1,037|||1,037|1,170||0|||1,170| |||Telephone||1,704|||1,704|2,362||0|||2 362| |||Post Pnnt and Stationery||1,159|||1,159|500||0|||500| |||Youth Expenses||2670|||2 670|I 577|||||1 577| |||||6571|||6 571|5610|||||5610| ## |N|OTES T|O THE FINANC|IAL STATEMENTS FOR|THE|YEAR ENDED 31,|AUGUST 2|020 (Continu|ed
)||||| |---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||Unrestricted|Restricted|Endowment|TOTAL|Unrestncted|Restncted|Endowment|TOTAL| ||||||Funds|Funds|Funds|Fund|Funds|Furds|Funds|Fund| |||||||||2019||||2019| ||||||2|||2||||6| |4|2S|SUMMARY|OF EXPENDITURE ON|CHARITABLE ACTIVITIES||||||||| |||Direct Spending|||211382|0||211,382|205,298|||205,298| |||Support for|chentble activites|||||||||| ||||Premises Expenses||20,784||0|20,784|57,175||0|57,175| ||||Governance||4,224||10|4,234|7,321||10|7331| ||||Others||6571|||6571|5610||0|5610| ||||||242 961||10|242 971|275404||10|275414| ||43|OTHERS||||||||||| |||Sundry Expenses|||3,947|||3,947|2,162|0|0|2,162| |||Bad Debts|||1,912|||1,912|107,569|0|0|107,569| |||Collection to pass on||||||Q|0|2575|0|2575| |||Total Other|expenditure||5BSB|||5859|109731|2 575|0|112306| ||5|REVALUATION ( DEFICIT) I GAINS||||||||||| ||||||2020||||2019|||| |||Revaluation|of Investments||-92|||||||| |||Sir Henry Ho9oway"s Gift||||||||||| |||1,082 units@481 9pence per unit|||5,122||||5,214|||| |||1,082 units|II||-5 214||||-5 150|||| |||1082 units|IG)|||||||||| ||||||-92|||||||| ||6|TRANSFERS BETWEEN FUNDS||||||||||| |||||||2020||2019||2019||7018| |||From Endowment
Fund to Unrestricted|||Fund|||||||| |||Sir Henry HoRoways trust||||93||146||||145| ## ## |BATTERSEA AND WANDLE|VALLEY CIRCUIT|VALLEY CIRCUIT|VALLEY CIRCUIT|VALLEY CIRCUIT|VALLEY CIRCUIT||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |NOTES TO THE FINANCIAL|STATEMENTS FOR||||||THE YEAR ENDED 31,AUGUST 2020 (||||||||continued||)| |8.INVESTMENTS|||||||||||||||||| |||||||||||||||2020||2019|| |The following funds are held||on behalf|||ofthe||Circuit by TMCP|||||||E||E|| |Circuit Advance
Fund||||||||||||||31||32|| |Sir Henry Holloway
Trust||||||||||||||5 122||5214|| |||||||||||||||5153||5246|| |9.INCOME FROM MATERIAL||INVESTMENT||||HOLDINGS|||||||||||| |||||||||||||||Market||income|| |||||||||||||||value||for the|| |||||||||||||at 31/08/20I||||year|| |Investment
Properties|||||||||||||L|480 627
f|~104460||| |Trustees for Methodist
Church Purposes||||||||||||||5 153||103|| |10.DEBTORS||||||||||||||E||E|| |Circuit Assessment
Debtor|- Due from||||Local Churches||||||||101,696|||96,287|| |Insurance
Prepaid||||||||||||||2,673||4,484|| |Rent Debtor||||||||||||||17,334||0|| |Other Debtors||||||||||||||12540||10010|| ||||||||||||||134243||~110781||| |Basic financial assets, including|||other debtors
and prepayments|||||||||||are initially recognised|||at| |transaction
price, unless|the arrangement||||||constitutes||||a financiang|||transaction,|where the||| |transaction
is measured|at|the|present|||value||of the future receipts discounted|||||||at|a market|| |rate of interest. Such assets are subsequently||||||||carried|||at amortised
cost using||||the||| |effective interest
method,||less|any||impairment.||||||||||||| |11.BANK AND CASH BALANCES||||||||||||||2020||2019|| |||||||||||||||f||E|| |Lloyds Banl Account||||||||||||||2,554||0|| |Central
Finance Board- Deposit||||||||||||||40 273||7406|| |||||||||||||||42 827||7406|| |Cash and cash equivalent|includes||cash in hand,|||||deposits||held at call|||with banks, other|||short-|| |term liquid investments
with||original||maturities||||ofthree||months||or|less, and bank overdrafts.||||| |Bank overdrafts
are shown within|||borrowings||||in|current||liabilities.|||||||| |12.CREDITORS: Amounts|falling due|||within|||one|year||||||2020||2019|| |||||||||||||||E||E|| |Local Churches Assessments||received|||in advance|||||||||12,896||15,767|| |Bank Overdraft||||||||||||||0||1,602|| |Rent Received
in Advance||||||||||||||33,967||1,020|| |Other Creditors
and Accruals||||||||||||||14130||35883|| |||||||||||||||60993||54272|| |Basic financial
liabilities,|including|||trade||and||other creditors,||||loans from third|||parties and||| |loans from related parties||are initially recognised|||||||at|transaction|||price, unless||the||| |arrangement
constitutes|a|financing|||transaction,||||where the|||debt||instrument|is measured||| |at the present valie of the||future payments|||||discounted||||at a market rate of interest. Such||||||| |instruments
are subsequently|||carried at||||amortised|||cost using|||the effective interest||||| |method,
less any impairment.||||||||||||||||page 20|| |13.CREDITORS: Amounts|falling due after the next twelve months|falling due after the next twelve months|falling due after the next twelve months|| |---|---|---|---|---| ||||2020|2,019| |Rent Deposit|||~32699|| |14.FUNDS||||| |14.1ENDOWMENT
FUND||||| ||||E|2019| |Balance Brought|Forward 01/09/2018||5,214|5,151| |Incoming
Resources|||103|155| |Resourses
Expended|||-10|-10| |Net (Deficit) /Gain on Investment||Revaluation|-92|64| |Transfers between
Funds|||-93|-146| |Balance Carried|Forward 31/08/2020||~5122|5 214| |14.2 RESTRICTED FUNDS||||| ||||E|| |Balance Brought|Forward 01/09/2019||2,336|2,336| |Incoming
Resources||||2,575| |Resources Expended||||-2 575| |Balance Carried|Forward 31/08/2020||2336|~2336| |14.3 UNRESTRICTED FUNDS||||| ||||E|E| |Balance Brought|Forward 01/09/2019||3,773,926|3,896,005| |Incoming
Resources|||288,813|296,095| |Resources Expended|||-269,444|-418,320| |Transfers between
Funds|||93|146| |Balance Carried|Forward 31/08/2020||3,793,388|3,773,926| |||||page 21| ## |15.TRANSFERS BETW|EEN|FUNDS||| |---|---|---|---|---| ||||2019|2019| ||||E|E| |From Sir Henry Holloways||to CFB|93|146| |16.COLLECTION TO PASS ON|||2020|2019| ||||E|E| |Easter Offering|||0|2,233| |Grenfell|Tower||0|103| ||||0|2 336| |These are funds collected||by the Circuit to be passed on to the third parties named||above.| |17DETAILS OF CERTAIN ITEMS OF EXPENDITURE||||| ||||2020|2019| ||||E|E| |Audit Fees|||4,200|3,600| |Accountancy||charges|2 400|1800| ||||6600|5400| |18PAID EMPLOYEES||||| ||||E|f| |Salaries|and|Wages|26,655|26,426| |National|Insurance
and Pension Contributions||1805|1952| ||||28480|28378| |Number|ofemployees||1|1| ## ## ## ## |TRANSACTION
WITH RELATED|TRANSACTION
WITH RELATED|PARTIES|||| |---|---|---|---|---|---| |NAME|RELATIONSHIP||DESCRIPTION||Balance at period end| ||TO THE||OF|AMOUNTS|| ||CHARITY||TRANSACTION||| |Patrick Kandeh||Trustee|Stipend|E36,688|Nil| |Rosamund|Hollingsworth|Trustee|Stipend|40,094|Nil| |Chellaian|Lawrence|Trustee|Stipend|36,688|Nil| |Japhet Kabilu||Trustee|Expenses|168|| |Patrick Kandeh||Trustee|Expenses|1,613|Nil| |Rosamund|Hollingsworth|Trustee|Expenses|292|Nil| |Stephen|Hienno|Trustee|Expenses|6,783|Nil| |||||2020|2019| |Average
Number of Trustees||receiving|||| ||Stipe nds|||3|3| ||Allowances|||4|4| ## ## ## ##