PRIORY METHODIST CHURCH, BEDFORD Registered Charity no. l12775J ANNUAL FINANCIAL STATEMENTS For the Year ended 31 August 2024 Priory Methodist Church, Bedford, was consecrated in June 1969. It took its name from the Augustinian Priory of St Paul of Newnham, which was situated in the locality And Ivas dissolved in 1541. Priory Methodl&t Church, Bedford Y¢ar ended 31 August 2024 l Objectives and activities Priory M¢ihudid Church is rooted in th¢ carliest days of Methodism, with visits lo Bedford by John W¢sl¢y. In 1969, two congregations ￿me together as a worshipping community in the present premises. Priory is part of thc North Bedfordshire Circuit of churches, and tllrough the District to the wider Methodist Conncxion. We are also part of an (*umenical triangle with St. Mary's, Goldingtoii and Holy Cross. Priory is committed lo sc￿e the needs of the locality, through worship and serviee, and to 8lwE the love of God with all thos¢ we meet. Our purpose is to 8erv¢ God in the world, using our buildings, skn.ll and faith for thc go(xl of all. We cornmil ourselves lo building relationsl)ip8 and to understanding our neighbours so that we may love and serve others. As ways towards realizing thi8 priority, w¢ will give particular attention to the following.. Underpinning everything, we do with God_centre41 worship aTLd prayer Supporting community development and action for justice, especially among the most deprived and ID Britain and worldwide D¢v¢loping confidence in evangelism 8lld in the capacAly to speak of God and faith in ways that make sense to all involvcd En¢ourdging fresh ways of being Church Nurturing a cultLue in the Church which is p￿p1c-ccrttred ond flexible Each year we ty lo think through the specifics of how to put our principal objectiv¢$ into action. Thc Priory LeaderS￿'p Team dcviscs a swi¢s of allns und¢r ¢a¢h of the thr￿ 'Po$itive Priory, headings. Thffts list fornis the basis of the agenda each lime the PLT meets. tn addition, the objectives ar¢ reviewed at least at]nually by the Church Council. Aims and objcctiV¢g are then retaine& reYA8ed or n¢w on¢s set to take us tnto the llext year of our life together. Publlc Benefit Statement: The managing trust¢es of Priory Mcthodi5t Church confimi that they aTe satisfied that they bav¢ compli¢d with th¢ir duty with regard8 to ensuriDg that thc Charity has un(krtsken sttitable wodcs for the henefit of the public; required by the Tharity Commigqinn. 2 Achievements and Performance W¢ have both long-terni and short-terni obJ¢ctives in the following areas: Inspiring Worship, Building Community. and Stwing Falth with the local artd wid¢r community. Examples being: Regular Sunday Worship, includiug open air services Joint servicG8 With Putnoe Heights Methodist Church at Iwt once a quartw. Junior Church for young people oncc a ll)onth A variety of clubs, groups and meetings open to the Church and local community Food & Fun club running as an outreach initiative during ea¢h school holiday. Priory is vy fortunate in Ih81 Lt8 premises ¢ontinue to be widely use41 by both ils own groups and many different outsid¢ orgatiisations. For the year to which this Statement relatcs our main users ha￿ b¢¢n Baniardo's (the children's charity). a local ballet school and IMPAKT, a local food bank. in tijtsl there arc som¢ 20 regular groups that hi￿ th¢ premises pl￿$ numernu8 birthday pani¢s. All users fjnd a well-eguippcd and friendly ¢nvironmcnt in which to meet. Of course, none of th¢ above could happerl at Priory wiihout the continued generosity of its m¢mb¢r$, iK*th in th¢ir regular we¢kly siving and, in their donations. and legacie3. Priory Metbodlyt churc￿ Bedford Y￿r ¢lld¢d 31 AuRu8t 2024 3 Financial Review At the start of th¢ finoncial year lo JI August 2024 the Church Council formally adopted proj¢cted budg¢t deficit of £17,932 how¢v¢r, du¢ to a number of fa¢tors we finished th¢ ye with a swplus of £9,022. This meant that our general furLd (whieh includes our reserves) in¢r¢as¢d 10 £129,214 Our 2 main hirers UThexp¢C￿djy continued to use our premises until May 2024 wh&n they finally left for thcir own pr¢mis¢s. Several of our olhcr hircrs hav¢ increased thcir usag¢ Bnd thi$ m¢aFLI that our income Irom 'rooin hire. was £31,000 high¢r than the amount budgded for. Unfortunately> the sale of tlLe bungalow has 8ti]I not complcicd, allil we bave incurre4J various cxpcns¢5 I￿luding professional fecs. It has also b¢¢omc apparent that w¢ should have been paying council tax on the property since il's been empty and ther¢fore, we have paid out ID November 2024 a total of £3,672 for thc years ending August 2023 and August 2024. I*)nalions from various Individuals and som¢ small fund raising amounted to £891. With lh¢ gift-aid wc wer¢ abl¢ to claim on these donations we rece3ved the amount w¢ had budgeted for. Most of our other streams of income and expenditu￿ werc in line with the budgeteAJ figure8. The Priory L¢adership Team and the new fornied l£adership floTu￿ continue to m¢¢1 fr¢quently to ensure that the f￿all￿S and impacls 00 it are monilor¢d and understood. 3.1 Res¢rves P•licy It is the recomrnellded policy of 'l'he Mdhodist Church. to hold 81 least the cquivalcni of six months general expenditu￿ in rescrve. such an amount would provide working capitsl to cover flllctllations in income and expenditUFe and me¥t ¥mergency calls on cash. tor example for emcrgcncy rq)airs. ID July 2024 the church council voted to increase tlie Priory Methodist reserves poli¢y b4¢k to this recommended level, having held it at four months geTheral expendiiure for a number of y￿s. At present this is a figure which Pn'ory is Jn¢¢tsngi and a¢ 31 August 2024 the gcnml r¢8erv¢s swod ￿ £129,214 3.2 Use of Funds Designated Funds.. Thesc are held for use in property maintnance, outreach and bcnevolent needs, the latler at the discretion of thc Millist¢r of th¢ ¢bur¢k. Restricted Funds: These are funds that have been raised for specific purposes. Both these types of fimds are added to and used throughout the year. W¢ do not hold funds as custodian trust¢cs on bchalf of oth¢rs. 4 Trustees, responsibilities For ea¢h financial yeBr ending on 31 August the Trustees are requtr¢d to prepare fmancial statements that give a thie and fair view of the Church's finan¢iv¢l a¢tiviti¢s during ihe year and of its fu￿nCIal position ai the end of the year. In preparing these r]nanci￿ statements, the T￿8￿¢S have.. Selected suitabl¢ ac¢ouniing policies and applied them consistenily using the a¢¢￿al5 metliod Mad¢ judgements and estimates that reasonable and prndent Followed applieable a¢eountin8 StaLdard8 Prepard th¢ fmancial statcmentg on the going conccrn basis 14epared finaiicial statements to wmply with SORP 2019 Priory Methodist CknMr¢lJ, Bedford Year e•ded 31 August 2024 Th¢s¢ financial statemcnts arc prepared in accordance with the Consutution. Pra¢ttee and Discipline of the Methodist Church. The Tru8te¢s at¢ responsible for keeping proper a¢countiJg records which disclose with reasonable accuracy at any ttme the fu￿1ClaI position of the Chuwh and enables tb¢m lo ensure that the financial statements ¢omply with the law. They are also responsible for safeguarding th¢ assets of the Church and hence taking reasonable steps for the prevention and dete¢tion of fraud and other irregulariti¢s 5 Structure? governance and management The Methodist Church holds Excepted Status under Statutory In8tn]menl 2002 No1598. however on thc 28 January 2009 Priory Methodist Church Bedford became & 'Registered Charity, in its own right due to the r¢quirem¢nts of the 2006 Charities Act. Priory Methodist ChU￿h is now patt of the Bedfordshire. Essex and Hcrtfordshire Dtstricl of the Methodist Connexion of Great Britain." prior to I September 21X)6, when the London Di8tri¢ts were reorgonÈ8ed, Priory was a part of the Bedford (North) Ciwuit of the tAmdon North West Distrirt of the Methodist Connexion of Great BritAin. 5.1 Goyernanee The governing body of Priory meth￿11$1 ch￿￿h 18 the Church Council. It5 membcrs are the managing tNslees for both Metljodist and Clwity Commission purposes. Nomial practice is for it to mcet four times 8 year and exceptional purp)8¢ rneetings where required. Memb¢rs are appointed to th¢ Church Council by the Amiu81 Church meeting of members. normally servillg for a tcrm of six y¢ars. 5.2 Management Thc Priory L£aderyhip Team (appoillted by the Cliurch Council) is set up to focus on ststegic planning and the vision forPriory. There are B number of conm]ittees, e.g. Finallce, Property, Worship ¢t¢. who meet on a regular basis ¢0 d¢al with the nonnal ¢v¢ryd#y rnnnin8 of th¢ Church. All policy decision8 being ￿ferred back to the Chur¢h Council for ratifi￿tI0n. 6 Reference and Administrative Details &1 Name of tht Cbarfty Priory Methodist Church &2 Charlty re%lgtrffldon nnmber 1127751, registered in England and Wales &3 Fr1ndp￿ Offire Thc addr¢ss of Priory Method1￿ Chur¢b and of the Church ofifice is 63 Newnham Avenue, Bcdford, MK419QJ 4 MIDlster Revd LE81ie Noon (from September 2022 to August 2024). Revd Chris Sandy (from September 2024) 6.5 Church Council Se¢retsry: Mrs Margar¢t Brown (from Oct 2021) Priory Metknodlst Churcb, Bedford Ytar ¢lld¢d 31 August 2024 6 Ireasurer MT Keith Gaunt (from September 2019) 0.7 MeJllb¢rship of tbe Priory Cknureh Coun¢il Members of the Church Council are th¢ Mlmaging TrustCC8 of Priory Methodist Church. Th¢ Cliurch Council has authority and oveTsight over tbe whole area of the fftinisiry of the Church. including th¢ Dianagcment of its property, M¢mbership includes th¢ Minister, the Leadership Team, th¢ Senior Worship Steward, TTeasuffr, Seeretary, Secretary of the Pastoral Committec, one Cireuii Steward, represcntativcs appoinl¢d by the A[￿Ual Church Coun¢tl. and addiuonal persons appointed to ihe Council to ertsure that all areas of the Church's life are adequately repreA￿ted. Members of the Cburch Council and MI￿gIng Trustees Ill the year 2023-24 Chairnian Revd Leslie Noon (to Aug 2024) Revd ChTiS Sandy (from Sept 2024) Secrciary Margaret BTOWII (from Oct 21) Church Tr￿sU￿r Keith Gaunl (from Sep 19) Leadership TEa￿ Karen Gaunt (from Jun 22) Leadership T¢am Colin Watls (from Jun 22} Leadership l eatn Larnien Rowr (from Jun 22) Pastoral Seoretary Jelmy Lloyd (from Apr 19) Cbur¢kn CouD¢ll Representatives to the Clrcuit Meetlni Canncn Rowc (from Aug IS) Lynn Gound (from Mar 20 to Jan 24) Church Represelltxtive$ to the Church Couucll Tsatu Ametefe (from Mar14) Barkna Barlow (from Mar 15) Kathy Ikwis (from June 14) Hazcl WpTher (from April 23) J¢nny Wood (from April 23) Lorrdine Kalyan (from April 23) Christine Hearn (Irom April 23) Addltiollal Representstives to the Chur¢h Councll Liz Little- Worship Consuliation (from Mar 14) Colin Watts- Eternal Light (from MIT 20) Lynn Gound- Safeguarding officer (from Mar 20) Sue Qordon- Admillislrator (from Feb 23) Jasine Belinfante- Senior Worship Steward (frojn Feb 23) Clrcuit StTh4rd Representative to Church Council M*Daging TTUSt¢¢ of Priory Janc Mcvcy (from SW 19) Mln18ter Revd Leslie Noon (from Scpt 22 to Aug 24) Revd Chris Sandy (from Sept 24) Revd Miclwl Gfftles- Superintendent (from Sept 22) 8 Bankers Deposit Holders S8ntan(kr UK PIC. IIBAM, Bridl¢ Road, Booil¢, M¢rseyside, L30 4GB Central Finallc¢ Board of th¢ Mdhodisl Chur¢h. 9 Bollhill Stre¢t. London EC2A 4PE. Trnstees for Methodist Church Purpo￿$, Central Buildings. Oldham Street, Manchester Ml iJo. Priory Methodist Church, Bedford Y￿r ended 31 August 2024 6.9 Ingurers Methodist Insurance plc, St Ann's House, 8t Ann's Place, Manchest¢r, M2 7LP. 6.10 Independent Examlner Ka￿n Dyer FCCA, GKP (Ampthill) Limited, First Floor, 3 Doolittle Yard, Froghall Road, Ampthill, Bedfordshire MK45 2NW Approvals The TnJstee$' Report and ihe Financial Si8t¢ment8 were approved by the Church Coullcil on.. Rev hris Sandy Chair of Chur¢b Council and a Managing Trustee Date.. I I f,.. Priory Methodlst Cburch. Bedford Year ended 31 August 2024 INDEPENDENT EXAMINER'S REPORT ¢0 the Trustees of Priory Mcthodi$t ChuTGh, Bedford- A registered Charity. I rey)rt to thc Charily Truste¢8 on my ¢xaminalion of th¢ Financial Statements of Priory M¢thodisi Church, Bedford- A Registered Charity (the Trust) for the year ertd¢d 31 August 2024. Re$ponslbilltie$ 4nd basis of report As thc Charity tTusle¢s of the Trn81, you are responsible for the preparation of the Finao¢i81 Statements in accordance with the requiremenÈs of the Charities Act 2011 ('the Act,). I report in respect of my ¢xamination of the Trust's Financial Statejnents carried out under sectio￿ 145 ofthe Aci and in canying out my examitsation I havc follow¢d all applicable Directions given by th¢ Charity Commission under section l45{5Mb) of the Act. Independeni examiner's statement I hav¢ romplctcd my cxaminalion. I confirni that no material mattcrs have come to my all¢ntion in ¢onuwtion with the Cxaminalion giving me cause to beli¢v¢ that in any material respect: accounting ￿COrdS were not kept in resp¢¢t of th¢ Trnst as r¢quird by 5e¢tion 130 of the Act. or 2. tkne Financial Stalemellls do not accord with I]￿se records. or th¢ Financial SiatcmeThts do not ¢omply with the applicablc rcquircmenis concerning th¢ form and contcnt of Financial Strdi¢m¥m(s Kt Uul in th¢ Chtttiii¢s (Acfjounts und Reports) Regulations 2008 other than Any rcquireTnent that the Financial Siat¢menis give and trne and fair view whi¢h is llot a matter considered as part of an iod¢pendeni ¢xamillation. I collf]Tm that there are no other matters to whi¢b your all¢tttion thould bc drawn to enable a proper understanding of the Financial Statements lo be rcachcd. Mrs Karen Dyer FCCA For an on beha]f of GKP (Ajnpthill) Limited First Floor 3 Doolittle Yard Froghall Road Ampthill Bedfordshire MK45 2NW Date- Church Aeeruals Accounts 2023-24 THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS ACCRUALS BASIS for the year ended 31 August 2024 Priory Methodist Church, Bedford Reg18tered Charlty- ReglytrAtion number 1127751 BEDFORDSHIRE {NORTH) CIRCUIT no 3411 Mlni51er Revd Chrls Sandy Chur¢b Stewards Karen ￿￿nt Colln Watts Carmen Rowe Treasurer K¢i¢h G*unt Prlory Methodl¥t Chureh, Bedford No 1127751 Statement of FinancA￿ Activities (SOFA) for the year ended 31 August 2024 f4otu to the De￿nal¢d fiDatttiNI G¢ner•l Fund Futhd$ siatomÈttt¥ (UnreBtrl¢¢edl IU•rutrl¢trd) Restrl¢t¢d Endowmeut Funds Fund$ TotAI 2023-14 Total 21n2_23 ID¢ome off¢r￿ss Dwatsons Gitlllid ]n(¢r￿1 aftd 1Dv¢Stm￿t in£ome In￿rne fiom piDpeAy lellingg lThtemal organisations Levi oihet chatitablein¢ome 46.060 1.962 4￿818 S.687 IlJ18 080 7&fj87 189 33,145 506 177,990 291 5.986 4239 11,98Z 7.059 65,051 250 5,395 65,051 250 943 131,39J 943 139A84 291 7,9 Expendltsr¢ CiKuii qs5¢5sm¢ntor $hare GTrnts anddonlltions Propttty mAlAi￿an¢t insuranKurilit1￿ ac S*lBrics and a&sY)ci81d costs Offs¢¢ ¢xpwsts oth￿ exp￿￿)luTe tetnal tsY¥8rtl￿tLonS Tot*1 thArli*bt¢ txyNlltur¢ 60,￿0 3,015 IlJ33 18.417 22,668 2,857 3.180 57.IJiKI 7,414 429 9,723 9,595 21,056 14417 2L608 17,702 21,538 4163 7017 357 1,278 222 {458 222 139.273 121,470 10,152 12I,8S4 Net Into￿tI(¢xpt￿dl¢￿r¢) Trnn81cts bL*W(xn furtds Other gainOlIoss￿I movement In Total fund5 brought forward Tfjt￿ f￿ll￿S ¢*rrAtd forward 9.923 (9,8611 736 249 165 Si136 9,022 120,192 129,214 19,125) 2,Q27,438 2,018J13 414 33.(K>5 33,419 5(136 1124,735 1.180NI 236 11811,171 236 4181,182 PrloTy Methodlst Chllr¢lL, Bedford Cb*rlty No 1127751 Stfdtement of Flnanelal Aetlvltie$ (SOFA) for the year ended 31 August 2023 Not￿ to the fiD8D¢I81 Ctnerkl Vund StoteffjeDts (Unre￿le￿d> {Unrertrktsd) De¥J8n*ttd Re¥trlcted Endowmént Funds Funds TotAI 2022-23 Income 46,818 1,490 44B18 5.687 Don4tioDs Gift aid tCfe5tHnd invtstmeJ]t Int￿me It￿ome froin property I￿1￿85 ]Dwnal wgani541ions L￿aCleS Other charitsble in(xMne Totsl In¢omt 449 3,748 3,035 75.087 1,045 OB& 7SO87 189 33.145 560 177,990 56.573 566 15S,987 16.572 449 21,554 Expendlture Circuit wesSme￿I or Gy8xts artd doD&litins Propwtymllinle￿8ll¢¢ lttsurnn¢c.utilities ctc Salaries aftd ￿0C￿l￿1 costs Offj¢¢ ¢xtW5¢9 OthereXp￿dIl￿re In*mg1 orgaDisatson5 Totsj ¢b*ritxbl¢expeDditure 57.1)(K) 736 3.937 3,678 7A14 8.063 17.7112 21.538 2.163 7,017 357 12IM4 4,726 17.702 21,538 2.163 1.244 5.773 J57 9,808 107J73 4th73 Net Int￿M￿lI£xp¢lldk￿rtI Traiisfers ful￿5 Oth¢r g&inFJIIosSE8) N¢1 thoytmtrtt itt fwids Total funds broughi forwaTd T•t•l C#Trled forwfvrd 4&614 Iij 14.224) 626 11.746 (636} SAI36 4&624 71,568 120,192 (3&981 2.031,036 1027,438 51130 236 3.124,733 230 2,A80J71 21.895 33.OOS Prlory Methodl¥t Churth. Bedford Ch*rlty 1127751 Bvélanee Sheet Y4¥ a¢ 31 August 2024 cEner￿ Full rutrJ¢ieOI Re*trlcted Fu*ds 2014 Tota￿ 2023 FuTrds (Ullreilrltledl P4ot¥ to iht Flxed Auels church buildin ve5tm&i and Wher 2.017,099 2.017,1199 4,98? 2W22,086 2.017,099 4.756 2.U2l,155 4.731 4,751 236 136 2.017.lJ99 Curr•AI AIMI 25,005 I￿,770 5,027 25.￿5 13J,65 6.772 161435 32,119 121261 7,241 160,621 CeThtral Finartce Board tk Cath at and in h￿￿1 32,88g 1214 1.214 33,419 Currtnt JIAbllSU Crojitors (due in und¢r I 6.J39 4J39 159196 I.￿5 3J9 114,463 NetCUtrYeAla55el￿1II￿lItie 1,214 J3,419 IS9 016 129214 2.ibl8,-113 31419 236 2.181,182 2.18OJ71 Neirfssets 129.214 2,1118J13 33,419 236 2.181,182 Gentrnl Fund Iuntestricled tryl Futhlunrgsmctcdl Toi•l UiJi¢tsrf¢tsdFuJrd5 Fuods Enthwmeni FuMd5 129214 2,018,313 2.Q18.313 147 27 33,419 236 2.027.438 2,147.6311 33,005 236 2.18ffj87l 33.419 23b 236 Ttit0lFw￿S 129J14 1018013 33J19 I181,IB2 Th¢ FinAncial Swm¢nts w¢4pprov¢d bythc Board of Tru￿¢e5 ￿.... . andwucj1￿tAm it$ t*holfby'. CluWer￿TrdY i(eithG•uni Priory M¢thodJsi Chur¢h, Bedford Notes to the FIl￿ne)￿l StBleJn¢ni& for Ibe yeareftded 31 AUS￿$1 2024 l Accountlng polieies Blsh of Prewln8 lh¢ Fin*rti•l Ststuntnts ThÈ lith&ttc￿l ￿al￿n￿E￿Orthe Ch￿iLy. which Is a public ￿lity underfRS 102. have bcen prepAT•J itt g¢¢othnce with Ihe Ch￿itieS SORP IFRS 1021'A¢¢ountingaThl Rwrtinll byLhaYiIi￿.' st91￿￿￿1 of Re¢thmnended PrBEiKE applicable 10 ¢hariii¢B Pttparing IhAr finaNial *aiemfthis in ￿cOrds￿e wilh the FI￿ar￿￿1 R4th"ng Sts)thTd applicable ITL the UK and Rq)ublK of ItElaTrJ IFThS 1021 IdfecEive l Jurtuary20191 IheCh¥riiies A¢1 2011. The* fiftan¢i?I SA%c[ne￿I8h￿W¢ t*en pryared on theba8Js oFhistoric81 ¢0stexcwt thBi invastn￿lIS areshown all￿r ¥nark¢t valve alth¢e￿I of1￿ yeaT. The accN81s bRBis hasb￿l and ¢Ns*¢s wesent acciwliis th*¢s1￿ a tn fair VI￿ of th¢ Ch￿￿h'S finBnci31 p)*¢iort and •cbvit Ass¢ts liobililies Bre iThitiallyrrgo8nistd &historicBI costor iransactson Ynluo ￿￿t¥s0th&WaS£&tb1td below. Colng ro•terth Th£ ¢huT¢h employs a part linx thini8trator to m￿1n￿lSe Ihe us¢of Lhe pr¢mises dllfing IhB week wilh pa￿ TOOM l¢¢tings. which sUppl*￿￿t ther¢8ular doThaiions fromrhurch mEmben. Ahhou8h th¢ listof hirtt3 do￿ t]llCtUaE£ y 10 yeAr the i￿￿tee5 beliEV¢ the In&￿ttiS thuythe WLll conbnue ¥s a goin8(Ym¢¢rn. recogllltlo Income JB btOU81rt Into th¢ fiJwKial who the¢hurch cnlid¥J th¢le8¢u￿09,. the ts1J8te￿ ate Yirtbjally ihal thty will yt*eivetho re￿)￿re¢S aftd trK)netary vslue caD be nLeS8U￿j wilh w(f¢cieni te]iobility. No attempt 1$ made 10 Ineasure Ihe valueolservice9&M￿lell by volunleeE5. Exp¢tydltttYe Liabiliiies are r￿08￿19￿1￿5 as11￿[¥ i¥ y iwl 0rconstrL￿tiyeobl*8QtiQnco￿￿iIIll￿the Churclj to the expe4Xtiwre. Itis probable Ih&i a tr4DsfEr of willbv rtyu¢r&l in sdIl￿neALand then￿ll￿ary valuecanbB meowycd rel￿b]y. EXpthd1￿rC ￿&(LOU￿1￿3 fDr a* ￿Ctual5￿&1¥ by Daiur¢ ufih¢¢%pMws illcurred. T￿n￿ble nxed •Hets Asscts ate Lapitalistd if Eheycan be used formore thnn one y¢or, gNi i￿livIdu￿)1Y Cost at loasl £IOOO. They art Volu￿ ￿ ¢o$t ora Misonable vahje on r£ceipt. Proviaolli5 made for depT#igtiOYLwbtre appropriate to eIiSUTe Ihe¢os¢ le¥ ￿$*￿￿?[ value is WriEWJ off over their u5efi¥l econotnK Iive5on a sbui8hi lineba￿￿. The ftttbold ptopertyisth"&ciod fJn8n¢ial Itattmcnis ai¢i)A. No dLVJWiat￿n 1$ provtdal bttausethe trU￿eesC0n￿dEr the tesidual v&luE of bu￿ding is ks$ thaAlbi8carriDJ valuatson ￿ itjs inainwned lu a ¥its￿l&[d to ensu￿ this testslual ¥alu The inVestM￿)ts aTeiD ThThEtary asxts alld&E tKldby for fyk¢kndlstCF￿Ck 51up0s￿{TmcP) Is ctistimiiatt trLL$Ie￿. Thevoluation4 ￿Market vaJu4 ar¢ thox wvvmltslby TMCP. ttsvestm￿I irJcomei9i￿[udd in the St8teJn￿ when r(*¢ivabl ThewJtealis￿ gains 8t1￿￿8 on inve4Dnth Dt thee￿ of tht Y￿ showttin SOFA. FuDd Usutsth¢￿l ¢anb¢ irlawotdw wilh the charitable￿)(￿11¥¢￿ at IhedixT¢t¢onof tht Tru8W. Rcsirictsj f￿￿5 can (MJY bEus￿l forpafti¢Ul8f￿8trIl.ttd pUr(￿eS within Ihe0bj￿18ofthechOrity. lie8lriciion8 Brise wbe4) Spwiri￿ b). ihedo]Lororwheo f￿￿$ aye 18tS￿ forpanicutar r¢guicitd purposes. funds hBhl for USE itl tq>Aigs& ouire4¢h andb¢D¢volent netds, the lauerai ihE diucreti of the mi￿&￿eror ihechuJ¢h, R￿lns Disposals Balance ¢aTried fonvard at 31 August 2024. at ¢os¢ 1,950,099 67,(M)0 2,017,099 1,950,099 67,000 2,017.099 9 tllYeJtmellts The funds that support thc VaTiOUS futmls. are h¢ld by TMCP ITh Tru¥t¢¢s lknst Fund¥ on whi¢h Interest 18 Credited to the accounts each n￿ttth. These are regarded as medium and Ion8 ierni inve9mwIts. TMCP is the legal own¢r and Custodi￿￿ Trus*¢ of All Methodist M¢)del Tn￿tprtspCrtY. It￿]￿dIng Legacies. Endowmthts and Ac¢u]nulated FuDd5. Trust propcrty is held for a7Jd ¢)n behalf of local Malla8iJ8 Trustces wkn are responsible for the day to day manag¢nwit of tNsi property. TMCP wjsure thal, ilwou¥h providing guidan¢¢ and &¢ting under ibeiT direction. the Mankging Tru8teutui tothe inwrn¢ a¢liviti through 8iiingof offerin¥. rdat(d giA aid ond parti¢ipHtson in fundrnisi*8 activities. Tbas¢w(ts. as witb those of a]1 Church M￿nbU5, ar¢ volUnt￿Y in n&tllTe*rJd are th¢r¢for¢ThNdisclosèJ. Rc14td partits in¢lud¢tht Methodist CoMnLxioll, Methodist Circuits al￿ Districts, C￿1￿1 Fingnc¢ BDArd tnd'fMCP. All of th￿terIt1t1e5 hdve theff own Trustees orDir#¢m. Durin8th¢ywlh¢¢bur¢h tnède a numberof paymo118 to r¢lJi41 pfirtits.. Totsl 2024 Tot*l 2023 ￿#￿t of Organlfalltrll Nathre of payJ#ent North B¢xlfordshircCiXCUIt Ass¢ssrntknt Methodistchurch Trvnd Donstion Mdhoth'$i World Mis810n IAll W¢Can Donaiion Methodist [nsura￿￿E Insuranc¢pr%#nium 57.¢KIO 75 0.429 150 6.135 IS VoluThteer Contrlbullolls Priory Mdhodisi Church is I￿vi]Y rdianl on Volu￿1￿1$ who con1ribu￿ th¢ir ski115, time and mon¢y u) supwn all Ar¢a5 ofchutch life and work. Wear¢grateful to all of Ib¢Jn for the￿help and com]niim•)t. No attcrnpi has mth lo valu¢the ntstrmon£w L7)JJlribuiions to th¢Chur¢h ID moiidary tenns. 16 C*pii•l Rnd toDtiU4tlll IIthUkl¢8 The￿W￿e no ¢apital ¢0mmiM￿tSQr¢0Tr1ingc￿1 li•biliises #¢ th¢Yeara￿1202j.. &LiI) 17 Tru%t¢¢s r¢mutteNtIo ThcTrusiees did not rttthve￿Y TanuneTrtiorL orotherbeDefits fft telaiion ¢0 thepthrnance Of IhthTdulli%12023'. £nill. Th¢Thiste&s did noL¢isini any ¢xp¢n545 ih¢ ycai12023= £iiil}. If I 111