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2025-08-31-accounts

Trustees’ Annual Report and Financial Statements

for the year ended 31 August 2025

Page 2 Annual Report and Statement of Accounts

The Methodist Church in Wales – Wales Synod Cymru

Contents Page

Trustees’ Annual Report ………………………….…………………………… 3 - 17
Statement of Financial Activities ……………………………………………… 18
Balance Sheet …………………………………………………………………... 19
Notes to the Accounts ………………………………………………………….. 20 - 35
Declarations and Scrutiny ……………………………………………………… 35 - 36

Glossary of terms

Note that the terms 'The Wales Synod Cymru', 'Synod' and 'District' are synonymous. The Wales Synod Cymru is a District of the Methodist Church, within the definition below.

CDiM: Continuing Development in Ministry

CFB: Central Finance Board of the Methodist Church which manages a Common Deposit Fund and a series of pooled investment funds for Methodist entities in Great Britain and provides investment advice to those entities.

Church: a group of members from fewer than 12 to more than 300.

Circuit: a group of Methodist Churches near each other, typically between 15 and 30

CMTF: Circuit Model Trust Fund

Connexion: The Methodist Church in Great Britain which includes the Head Office at Methodist Church House, all Methodist Districts, Circuits and Churches in Great Britain.

District: a group of contiguous Circuits, usually between 15 and 30

FRS: Financial Reporting Standard

HMRC: Her Majesty's Revenue and Customs

MCF: Methodist Church Fund

MMPS: Methodist Ministers' Pension Scheme

Momentwm: formerly Synod Youth Work Action Group

SAF: Synod Advance Fund

SOFA: Statement of Financial Activities

SORP: Statement of Recommended Practice

SPC: Synod Policy Committee

TMCP: Trustees for Methodist Church Purposes, the legal owner and custodian trustee of all Methodist Model Trust property, including legacies, endowments and accumulated funds.

Page 3 Annual Report and Statement of Accounts

Trustees’ Annual Report

1. Wales Synod Cymru – Introduction to the Annual Report for 202425

I am pleased to introduce this Annual Report for the Wales Synod Cymru for the year 202425.

The Synod has continued to develop its ministry and mission in line with the priorities of the Synod Development Plan in supporting the work and witness of circuits across Wales. One way of doing this is through grant support, and during the year it has continued to respond to applications for support from the Synod Advance Fund with grants totalling £363,479. Once again the majority of the grants paid, some £343,777, went to Ministry schemes and £19,702 towards decarbonisation schemes. In addition £10,000 of Connexionally funded grant for Methodist Action on Poverty and Justice was directed towards the work being done with the homeless and people on the margins.

The learning and development committee came to a natural end on 1 September 2024 and at their request the fund they looked after was transferred to Wales Synod Cymru. The intention is for that fund to continue to be used for learning and development purposes. The learning and development fund has therefore been included in the Wales Synod Cymru 2024-25 accounts within ‘Other General Funds’. The Wales Synod Cymru opening balances have been restated to include £126,551, and the prior year comparatives have been adjusted accordingly.

The Synod has sought to resource circuits by the provision of ordained ministry through the connexional Stationing process. The Synod continues to face a significant Stationing challenges and this reminds us of the ongoing importance of both encouraging offers for ministry in all its forms and seeking the most effective way to deploy our ministers and make use of their giftings.

In these challenging times I hope there remain many other things in this report to encourage us, as across Wales we seek to live out ‘Our Calling’ as disciples of Jesus and respond to the ‘Priorities’ of the Methodist Church.

With all best wishes,

Rev Dr Jennie Hurd Chair of the Wales Synod Cymru

Rev Andrew Charlesworth Chair of the Wales Synod Cymru

Page 4 Annual Report and Statement of Accounts

Trustees’ Annual Report

1.1 Strategic objectives, aims and purposes of the Methodist Church in Great Britain

The activities covered in these reports and accounts fall within the work of the Methodist Church.

The strategic objectives of The Methodist Church in Great Britain (“The Methodist Church”) are directly linked to its aims. They are:

  1. Worship – to increase awareness of God’s presence and to celebrate God’s love;

  2. Learning and Caring – to help people to learn and grow as Christians, through mutual support and care;

  3. Service – supporting community development and action for justice, especially among the most deprived and poor - in Britain and worldwide; and

  4. Evangelism – developing confidence in evangelism and in the capacity to speak of God and faith in ways that make sense to all involved.

1.2 Public Benefit Requirement

The trustees of The Methodist Church had due regard to the public benefit guidance published by the Charity Commission in compliance with its duties under section 17 of the Charities Act 2011.

This guidance sets out two key principles:

  1. The organisation must have an identifiable benefit.

  2. The benefit must be to the public or a section of the public.

The Church exists, inter alia, to:

  1. increase awareness of God’s presence and to celebrate God’s love;

  2. help people to learn and grow as Christians, through mutual support and care; and

  3. be a good neighbour to people in need and challenge injustice.

The trustees of the Wales Synod Cymru of The Methodist Church consider that for these reasons the charity meets these public benefit requirements.

2.1 Plans for future years

A successful application was made for New Places for New People funding in South Wales which began in September 2024, a project focusing on new Christian communities for people with questions about life and faith who struggle to connect with existing forms of church.

Page 5 Annual Report and Statement of Accounts

Trustees’ Annual Report

3 Financial review

During the year the Synod received total income of £809,811 (as restated 2023/24 £680,340) and disbursed £651,228 (as restated 2023/24 £584,297). The excess of income over expenditure of £158,583 was increased by gains on investments of £6,208 to produce an overall surplus of £164,791 (as restated 2023/24 surplus of £147,113). Total funds carried forward are £3,766,564 (as restated 2023/24 £3,601,773).

The Trustees of the Synod have every reason to believe that the Synod is a going concern, principally because Circuits have the ability to continue to meet their assessments and the Synod has adequate reserves to cover any shortfall in anticipated income. There are no subsidiary undertakings.

The Synod continues to hold three freehold properties being the Chair’s Manses in Cardiff and Powys and an additional property also in Cardiff, held within Trust 14508, presently in the occupation of a Synod employee, the Synod Enabler (Culturally Diverse Congregations).

The Synod has the following principal sources of funds:

These sums are used to administer the Synod and to provide grants to Circuits, Churches and individuals in the District so that they may embark on or continue with projects that fulfil the mission of the Synod by bringing more people to Christ or by providing facilities that might enable this to happen.

3.1 Methodist Ministers’ Pension Fund

The Trustees are aware that the Methodist Ministers’ Pension Scheme is treated as a group defined benefit plan. The net defined benefit cost is recognised by the sponsoring entity, the Methodist Church in Great Britain, as there is no contractual agreement or stated policy for charging the net defined benefit cost to individual entities, such as the Wales Synod Cymru. The Synod recognises a cost equal to its contributions payable for the period. Further details in respect of these pension arrangements are disclosed in the accounts of The Methodist Church in Great Britain.

Page 6 Annual Report and Statement of Accounts

Trustees’ Annual Report

3.2 Investment policy and performance

To comply with Methodist Standing Orders, monies for long term investment are lodged with the Trustees for Methodist Church Purposes (TMCP). TMCP acts as custodian trustee for all real estate held by Districts and for all large (individually over £20k) bequests and for the proceeds of sale of any property formerly owned by the District. These sums are invested in unitised investments or held on deposit. The capital returns are close to tracking the movements in the FTSE100 index. The income mirrors the deposit rates available elsewhere. Both the Central Finance Board (CFB) and TMCP take into consideration social, environmental and ethical considerations, both negatively and positively, in establishing investment policy.

Short term deposits are lodged directly with the CFB and attract good market rates of interest.

There are no bench marks for the expected returns or appreciation on investments at TMCP and CFB. It is the Synod's policy to manage the cash and investment resources of the Synod so that a rate of return on investment – both by way of dividend and capital appreciation – is obtained at least as good as market rate considering the Synod’s low appetite for risk.

3.3(a) Reserves level and policy

Note – there is a separate paragraph 3.3(b) below relating to Trust 14508

Introduction

This report sets out the position with regard to the Synod’s Reserves. It excludes the value of the Synod Manses. The Synod currently operates a number of unrestricted funds, designated (though not restricted) funds and restricted funds, the balances of which as at 31[st] August 2025 were: -

Unrestricted funds

General Fund £98,550

Designated Funds

Designated Funds
International Youth Exchange
 £8,199
Training Network £11,475
Continuing Development in Ministry £21,277
Synod Reserve £112,360
Manse Reserve Fund £31,079
Learning & Development Fund £130,526

Restricted Funds

Restricted Funds
Synod Advance Fund £1,662,831
Chair’s Discretionary Fund £4,492
District Account Funds £63,649
District Benevolent Funds £105,606

Designated Reserves - background information

The total designated reserves at 31[st] August 2025 amount to £314,916

Page 7 Annual Report and Statement of Accounts

Trustees’ Annual Report

In considering the funds set out above, the following information is relevant, especially when looking at future options.

International Youth Exchange

Monies were raised during 2016 and 2017 to fund a Youth exchange with young people in Jamaica and in 2017 and 2018 to help towards the cost of a group of young people who proposed to visit the Holy Land in 2018. The reserve for the Holy Land visit has now been fully used and the monies remaining relate to a future youth exchange.

Training Network

The balance here is a surplus from a fund which had originally been established when the former South Wales District had a joint arrangement with the United Reformed Church, to employ a Youth Training officer. This account was retained after the cessation of the arrangement.

Continuing Development in Ministry (CDiM)

The origins of the fund go back to the Cardiff Conference in 1990 when costs were met by a levy on South Wales Circuits, matched by a donation from the District Charitable Trust. The Conference Account achieved a surplus and the balance continued to grow. It was later designated for use in connection with CDiM. As from 2014/15, under changed arrangements, any Connexional contribution ceased. It is anticipated that in future this fund will be drawn down to the Synod General account as necessary in order to financially assist presbyters with their ongoing development.

Synod Reserve

This represents amounts set aside over the years from annual surpluses, and also from amounts arising during projects authorised by Synod.

Manse Reserve Fund

This fund was established to fund the possible future purchase of a manse in the north of the Synod. As there are sufficient manses in the Synod, this fund has since been used for manse refurbishment.

Cymru Reserve and Talaith Cymru

These funds, originally from Synod Cymru, have been used to support the activities of the Synod. These accounts have now been closed and the funds have been transferred to the General account.

Learning & Development Fund

This fund, originally setup as Y Cyngor, has been used to support the learning and development costs for probationer minsters.

Summary and Use of Designated Reserves

International Youth Exchange

The balance remaining of £8,199 will be used to part fund future youth activities, which may include a future youth exchange.

Training Network

This fund is held for future Training within the Synod. The Synod Policy Committee has agreed to help in the funding of degree courses by presbyters and this fund could be and has been used for that purpose.

Page 8 Annual Report and Statement of Accounts

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CDiM

The cost of CDiM is now wholly funded by Districts/Synod. The future total annual cost of this provision is potentially £250 per presbyter. All presbyters are encouraged to take advantage of the CDiM scheme to support their ministerial development. Under changed arrangements effective from 2014/15, the cost to the Synod will be £250 per presbyter on take up and the annual cost at maximum could be £9,250 which means the fund could potentially exhaust well inside three years. The direct amount spent however in 2024/25 was £880. The total amount spent was met from the Synod General Fund. Usually, a transfer from the CDiM Reserve to the General Fund is needed to meet this cost. The balance remaining in this fund will be used for the future funding of CDiM.

Synod Reserve

Within the balance of this fund is an amount of £2,000 held for manse refurbishment and repairs, £4,250 for Youth Work and £11,000 towards the future funding of the Higher Education Chaplaincy at Cardiff, £30,000 be held in reserve for the future funding of the Synod Enabler (Culturally Diverse Congregations) appointment, where the proposed Connexional and SAF grants are at a fixed sum over the period of the appointment. These reserves then amount to £47,250.

The budget for 2024/25 showed a total expenditure of £359,417. Therefore, the proposal to hold the reserve of £112,360 plus general funds on current account of £98,550 and after allowing for earmarked reserves of £47,250 as above, means that the balance remaining of £163,660 represents just 45% of annual expenditure.

Manse Reserve Fund

This fund is maintained to help pay for instances of substantial remedial and improvement work.

Learning & Development Fund

This fund is maintained to support probationer ministers with their learning and development.

Restricted Reserve

Synod Advance Fund (SAF)

As noted above the balance at 31[st] August 2025 was £1,662,831.

Grants paid to ministry projects during 2024/25 amounted to £343,777, and decarbonisation grants £19,702, a total of £363,479. Future commitments already agreed are

2025/26 £278,006 2026/27 £205,645 2027/28 £135,741 2028/29 £64,182 £683,574

Page 9 Annual Report and Statement of Accounts

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The level of reserves currently being held remains high and we will be looking to see whether we are able to further increase the amount and level of the grants we are able to make going forward.

As in previous years, Synod, through its Schemes and Grants Committee, continues to need to retain sufficient monies to fund any exciting and innovative project which, over 5 years, might require a significant grant contribution from the SAF. Additionally, we are committed to supporting a number of Circuit appointments some of which might previously have received some Connexional support. Further Synod support is envisaged if key appointments are to be maintained in the future.

3.3(b) Reserves level and policy relating to Trust 14508

Balances as at 31[st] August 2025 £545,430 (excludes the value of the property in Cardiff)

It was agreed by the Synod Policy Committee in February 2012 acting as Trustees that the funds available to Trust 14508 would be used primarily for supporting the two Synod appointments, namely the HE Chaplain at Cardiff and the Synod Enabler (Culturally Diverse Congregations); also that for the meantime Trust 14508 would continue to be responsible for the property costs of manses at Caewal Rd and a further property then owned, namely Ty Newydd, for as long as these were needed.

Subsequently, the manse at Ty Newydd was sold in January 2015. The proceeds of sale were received into Trust 14508 and invested in the Managed Mixed Fund on the recommendation of Trustees for Methodist Church Purposes.

Both Synod appointments were successful in receiving Connexional grant support, but this was on a reduced level and time limited. Indeed, as from 1[st] September 2020 the Connexional support to these appointments has ceased completely. This means that there will still be a significant draw down on the balance held in Trust 14508 over the next few years and no guarantee of future continued Connexional grant funding should the Synod wish to continue with the appointments.

Accordingly, SPC as Trustees of this fund agree that the current balances in Trust 14508 be held as a reserve to enable the Synod to continue the funding of these posts in light of the extensions agreed.

During the year the Trustees agreed to take over the funding for the Synod Safeguarding role from 1 September 2025. Previously this was jointly funded by the Synod Advance Fund and one of the Circuits.

3.4 Collaborative arrangements with connected charities

One of the Synod’s main sources of funding was the assessments obtained from each Circuit within the Synod based on the staffing levels of each Circuit and this was used to defray most of the cost of administering the Synod with the exception of the two Synod appointments referred to above (where the funding of those posts is explained). This sum amounted to £61,957 (as restated 2023-24: £62,110).

Page 10 Annual Report and Statement of Accounts

Trustees’ Annual Report

The Synod also received income from each Circuit with a reserve, known as a Circuit Model Trust Fund (CMTF), a levy based on the size of the Circuits’ CMTFs at the start of the Connexional year (1[st] September). In 2024-25 this sum was £301,377 (as restated 2023/24 £273,473) and was credited to the Synod Advance Fund together with a distribution from the Connexional Advance and Property Fund of £163,123 (as restated 2023/24 £63,818).

The District holds no funds as custodian trustee .

4. Trustees’ responsibilities

For each financial year ending on 31 August the Trustees are required to prepare financial statements that give a true and fair view of the Synod’s financial activities during the year, of its financial position at the end of the year and an annual report for that year. In preparing these financial statements, the Trustees have:

  1. selected suitable accounting policies and applied them consistently using the accruals method

  2. made judgements and estimates that are reasonable and prudent

  3. followed the applicable SORP and accounting standard, SORP(FRS102) as updated, including FRS102

  4. adopted the going concern basis

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Synod and enables them to ensure that the financial statements comply with the law. They are also responsible for safeguarding the assets of the Synod and ensuring their proper application under charity law, and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Synod’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and trustees’ reports may differ from legislation in other jurisdictions.

In addition to the above, the Trustees are responsible for the Health & Safety.

4.1 Risk

The District is largely risk averse, but especially in making grants to entities embarking on new and imaginative initiatives, the District is prepared to underwrite considered risks.

Page 11 Annual Report and Statement of Accounts

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5. Structure, governance and management

The Synod is an unincorporated association and is governed by the Methodist Church Act 1976, the Deed of Union and the Model Trust Deeds of the Methodist Church and was registered with the Charity Commissioners on 23[rd] February 2009.

5.1 Structure

Circuits are groups of Churches; Circuits pay the stipends of most ministers and may employ lay (unordained) staff to serve the Churches in the Circuit. Most decisions are made at or ratified by the half yearly or quarterly Circuit Meetings. A District/The Synod is a group of contiguous Circuits and makes its decisions at the annual or half yearly synods. The Methodist Conference meets once each year and is the supreme governing body for all Methodist Churches.

  1. Overall control rests with the Methodist Conference.

  2. The Connexional Office implements decisions made by Conference and is also responsible for the stationing of presbyters and deacons (collectively known as ministers) in individual Circuits within each District.

  3. Connexional decisions are passed to the Chair of the District/Synod and the appropriate officers of the District/Synod for implementation.

  4. The District/Synod passes control down to Circuit level for local implementation by the Superintendent Minister, ministerial staff and Circuit Stewards, and authority is delegated to the Circuit Meeting for certain matters.

  5. The Circuit Meeting passes regulatory control down to Church Councils for local implementation by the presbyter, the Church Stewards, and other officers, and authority is delegated to Church Councils as Managing Trustees.

5.2 Purpose of the Synod (District)

The Synod (or District) is an expression, over a wider geographical area than any Circuit, of the Connexional character of the Church.

The purposes of the Methodist Church are and shall be deemed to have been since the date of the union, the advancement of:

a. the Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church, and

b. any charitable purposes for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church, and

c. any charitable purpose for the time being of any society or institution subsidiary or ancillary to the Methodist Church, and

d. any purpose for the time being of any charity being a charity subsidiary or ancillary of the Methodist Church.

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The primary purpose of this Synod is to advance the mission of the Church in Wales by

  1. by providing opportunities for Circuits to work together and support each other

  2. by offering to Circuits resources of finance, personnel and expertise.

The Synod serves the Local Churches and Circuits and the Conference in the support, deployment and oversight of the various ministries of the Church, and in programmes of training.

5.3 Governance

The Synod operates within a statutory framework of regulation and seeks to ensure that it follows Methodist Standing Orders. It relies on the Connexional Office at 25 Marylebone Road, London NW1 5JR to provide guidance on changes that could affect the Synod.

The members of the Synod Policy Committee (SPC) are annually appointed by a vote of the Synod for a continuous term not normally exceeding six years. The Chair of District is ex officio chair of the SPC. When a position becomes vacant on the Synod Policy Committee, nominations are invited from ministers and lay members of Circuits within the Synod. The Chair of the District then shares with nominees what the roles involve. If they wish to be considered for a role, their names are taken to the District Synod for appointment. Members may be either ministers or lay people attending Churches in the area covered by the Synod.

The Synod Policy Committee normally meets three times per year and deals with routine and exceptional matters. It oversees the work of the Schemes and Grants Committee, finance, property, the Synod Office, the Synod Manse, stationing of ministers, safeguarding, the work of the Methodist Church Learning Network Cymru Wales, the work of Momentwm (formerly known as the Synod Youth Work Action Group), the management of Trust 14508, Ecumenical matters, authorisations to preside at communion and extensions to local preacher training.

5.4 Responsibilities of the Synod Policy Committee

i to formulate and promote policies which will advance the mission of the Church in the Circuits and Local Churches and, in particular, to supervise the use of resources of personnel, property and finance and to assist Local Churches and Circuits having exceptional problems

ii to encourage inter-Circuit and ecumenical co-operation

iii to act in an executive capacity in matters remitted to the Committee by the Synod

iv to keep within its purview all Synod concerns not dealt with elsewhere

v to contribute and respond, as the case may be, to the development of Connexional policies as reflected in the work of the Conference and the Methodist Council, and to carry out its other responsibilities with any such development in mind

vi to be aware that the stipend of the Chair of the District is set – currently by reference to average wages and the change over a year in the Consumer Price Index – by the Methodist Conference as for all ministers within the Connexion

vii constantly to be aware of the public benefit guidance issued by the Charity Commission

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6. Reference and Administrative Details

6.1 Name of the Charity

The Methodist Church in Wales – Wales Synod Cymru

6.2 Charity registration number

1128205, registered in England and Wales

6.3 Principal Office

Cyncoed Methodist Church

Westminster Crescent

Cardiff CF23 6SE

02920 761515

office@methodistwales.org.uk

www.methodistwales.org.uk

6.4 Synod Chairs (Chair of the District)

Rev Dr Jennie Hurd

Rev Andrew Charlesworth

Assistant Chairs:

Rev Cathy Gale

Rev Christopher Gray

6.5 Secretary of the Synod

Rev James Eaton-Challinor

6.6 Assistant Secretary of the Synod

Mrs Ffion Rowlinson

Page 14 Annual Report and Statement of Accounts

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6.7 Synod Treasurer

Mr Chris Randall

6.8 Synod Schemes and Grants Secretary

Ms Gill Peace

6.9 Synod Property Officer

Mr Martin Lougher

6.10 Synod Learning Network Co-ordinator

Mrs Delyth Davies

6.11 Synod Safeguarding Officer

Mrs Rhian Evans-Hill

6.12 Names of trustees

The following served as trustees throughout 2024-25 or were Trustees at the time of this report being approved:

Rev Dr Jennie Hurd (Synod Chair) appointed 1[st] September 2022

Rev Andrew Charlesworth (Synod Chair) appointed 1[st] September 2023

Rev James Eaton-Challinor (Synod Secretary) appointed 1[st] September 2024

Mrs Ffion Rowlinson (Assistant Synod Secretary) appointed 1[st] September 2023

Mr Chris Randall (Synod Treasurer) appointed 1st September 2021

Mrs Janet Rees appointed 14[th] March 2020 (resigned 31 August 2025)

Rev Stephen Boxall appointed 1[st] September 2020 (resigned 31 August 2025)

Miss Margaret Webber appointed 1[st] September 2018

Mrs Margaret Birch appointed 1[st] September 2021

Mr Barry Hawkins appointed 1[st] September 2021

Mr Martin Lougher appointed 1st September 2007

Rev Dr Ian Morris appointed 1[st] September 2022

Mr Alun Jones appointed 1[st] September 2022 (resigned 31 August 2025)

Rev Nick Sissons appointed 1[st] September 2022 (resigned 31 August 2025)

Page 15 Annual Report and Statement of Accounts

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Rev Richard Gillion appointed 1[st] September 2022

Rev Malcolm Peacock appointed 1[st] September 2022

Rev Howard Long appointed 1[st] September 2022

Rev Judith Holliman appointed 1[st] September 2023 (resigned 31 August 2025) Mrs Dionne Sherwood appointed 1[st] September 2023 (resigned 31 August 2025) Rev Gareth Edwards appointed 1[st] September 2023

Rev Keith Edwards appointed 1[st] September 2023

Rev Philip Poole appointed 1[st] September 2024

Rev James Garnett appointed 1[st] September 2024 Rev Bethany Willers appointed 1[st] September 2024 Mrs Rhian Evans-Hill appointed 1[st] September 2024

Appointed subsequent to 31[st] August 2025:

Rev D Marc Morgan appointed 1[st] September 2025

Rev Evelyn Bhajan appointed 1[st] September 2025

Mr Steve McElveen appointed 1[st] September 2025

Rev Tina Swire appointed 1[st] September 2025

Rev Catherine Brobbey appointed 1[st] September 2025 Mr Richard Noyes appointed 1[st] September 2025

Mr John Hay appointed 1[st] September 2025

The Managing Trustees for the Synod are the members of the Synod Policy Committee. No Trustee claims exemption from disclosure of his or her name here.

6.13 Chair’s Secretary

Mrs Wendy Barwise

6.14 Bankers

Barclays Bank plc

1 Churchill Place London E14 5HP

Central Finance Board of the Methodist Church

9 Bonhill Street, London EC2A 4PE

Page 16 Annual Report and Statement of Accounts

Trustees’ Annual Report

Trustees for Methodist Church Purposes

Central Buildings, Oldham Street

Manchester M1 1JQ

6.14 Independent Examiner

Lauren Pearce

Approvals

The Trustees’ Report and the Financial Statements were approved by the Synod Policy Committee on 7[th] February 2025

Signed on behalf of the Synod Policy Committee, as authorised

Rev Dr Jennie Hurd Synod Chair

Rev Andrew Charlesworth Synod Chair

7[th] February 2025

Chris Randall

Synod Treasurer

Page 17 Annual Report and Statement of Accounts

Trustees’ Annual Report

7. Financial Statements

The Financial Statements comprise:

Page 18 Annual Report and Statement of Accounts

Statement of Financial Activities (SOFA) for the year ended 31 August 2025

Notes to
the
accounts
Income from
1 Donations and grants
2 Connexional Advance & Property Fund
3 Income from investments
Income from charitable activities
4 Assessments on circuits
3
5 From Circuit Model Trust Funds
6 Contribution to the cost of the Chair
5
7 Other
8Total income
Expenditure
Expenditure on activities
9 Grants and donations
7
10 Salaries and associated costs
8
11 Cost of the Chair
5
12 Property Maintenance
9
13 Office expenses
10
14 Synods, committees, Conference
11
15 Training
16 Other outgoings
12
17Total expenditure
18Net income before investment
19 Transfers between funds
14
20 Gains on revaluation of fixed assets
21Realised and unrealised gains / losses on
investments
13
22 Net movement in funds
Reconciliation of funds:-
23 Total funds brought forward
24Total funds carried forward

General Fund
(Unrestricted)
Other
General
Funds
(Unrestricted)
(restated)
Synod
Advance
Fund
(Restricted)
Trust 14508
(Unrestricted)
Other Funds
(Restricted)
Total
2024-25
As restated
Total
2023-24
£
£
£
£
£
£
£
34,801
8,000
42,801
26,665
163,123
163,123
75,546
1,095
13,567
81,870
13,581
6,262
116,375
126,908

61,957
61,957
62,110
301,377
301,377
273,473

99,488
99,488
96,283
24,690
24,690
19,355
222,031
13,567
546,370
21,581
6,262
809,811
680,340

61,203
175,144
236,347
161,857

197,603
197,603
178,934

100,586
100,586
96,283

16,429
9,916
26,345
55,222

6,478
6,478
7,978

28,496
28,496
27,515
1,624
0
1,624
334

46,187
260
4,848
1,907
547
53,749
56,174
458,606
260
179,992
11,823
547
651,228
584,297
-236,575
13,307
366,378
9,758
5,715
158,583
96,043

270,004
-23,569
-188,335
-58,100
0
0
0

9
6,224
-25
6,208
51,070
33,429
-10,262
178,052
-42,118
5,690
164,791
147,113
686,211
325,178 1,484,779
937,548
168,057 3,601,773 3,454,660
719,640
314,916 1,662,831
895,430
173,747 3,766,564 3,601,773

Chris Randall Synod Treasurer

Page 19 Annual Report and Statement of Accounts

Balance Sheet as at 31 August 2025

Balance Sheet as at 31 Augus t 2025
Other Synod
Notes to General Advance As restated
the General Fund Funds Fund Trust 14508 Other Funds Total Total
accounts (Unrestricted) (Unrestricted) **(Restricted) ** (Unrestricted) (Restricted) 2024-25 2023-24
£ £ £ £ £ £ £
Fixed Assets
Tangible Fixed Assets 621,090 350,000 971,090 971,090
Total fixed assets 621,090 350,000 971,090 971,090
Current Assets
Debtors 47,227 3,200 1,703 52,130 50,456
Investments with TMCP 31,079 1,691,099 538,550 173,747 2,434,475 2,295,648
Central Finance Board Deposits 282,387 282,387 270,420
Cash at Bank and in hand 61,226 4,999 6,880 73,105 75,983
Total current assets 108,453 **321,665 ** 1,692,802 545,430 **173,747 ** **2,842,097 ** 2,692,507
Current Liabilities
Creditors (due in under 1 year) 9,903 6,749 29,971 46,623 61,824
Total current liabilities 9,903 6,749 29,971 0 0 46,623 61,824
Total assets less current liabilities 719,640 **314,916 ** 1,662,831 895,430 **173,747 ** **3,766,564 ** 3,601,773
Net assets 719,640 **314,916 ** 1,662,831 895,430 **173,747 ** **3,766,564 ** 3,601,773
Funds of the District
General Fund (Unrestricted) 719,640 719,640 686,211
Other General Funds 314,916 314,916 325,178
Trust 14508 895,430 895,430 937,548
Total unrestricted funds 719,640 314,916 0 895,430 **0 ** **1,929,986 ** 1,948,937
Other Funds (Restricted) 173,747 173,747 168,057
Synod Advance Fund 1,662,831 1,662,831 1,484,779
Total Funds 719,640 **314,916 ** 1,662,831 895,430 **173,747 ** **3,766,564 ** 3,601,773

Chris Randall Synod Treasurer

Page 20 Annual Report and Statement of Accounts

Notes to the Accounts

1 Accounting framework and accounting policies

i Accounting framework

The financial statements have been prepared in accordance with SORP(FRS102) as updated, being the current version of Accounting and Reporting by Charities: Statement of Recommended Practice . See also v Accounting framework, below.

ii Public benefit entity

The Wales Synod Cymru meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below.

iii Basis

These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. The accruals basis has been used and the Trustees present accounts that show a true and fair view of the Synod’s financial position and activities.

iv Content

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research and judgement. The accounts are expressed in £Sterling, rounded to the nearest pound. Rounding differences should be ignored.

v Accounting framework

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and Reporting by Charities: Statement of Recommended Practice [SORP(FRS102)] as amended, with the adoption of Section 1A of Financial Reporting Standard 102, in replacement for the SORP’s 2005 version specified in its related 2008 Regulations and in accordance with the ‘true and fair override’ provision contained therein.

vi Going concern

To the best of their knowledge and belief, the Trustees confirm that there are no material uncertainties that would call into question the Synod’s financial viability for at least 12 months from the date of approval of these accounts.

vii Consolidation

The Synod oversees the work of ministers (presbyters and deacons) and lay workers in Churches and Circuits within the Synod but has no power to control Circuits or Churches, ministers or lay workers except in extreme circumstances, none of which applied in the year. For this reason, the financial statements of the Churches and Circuits within the Synod are not consolidated into these financial statements.

Page 21 Annual Report and Statement of Accounts

Notes to the Accounts

viii Income recognition

Income is brought into account when it is more likely than not that the economic benefit of the income will be forthcoming. No attempt is made to measure the value of services donated by volunteers. Details of how the contribution to the cost of the District Chair has been determined appears in Note 5. A similar figure appears in the Expenditure at Note 8.

Individual amounts categorised as Other income in the SOFA will be shown separately if they are considered material.

The Synod acts as agent in the following matters:

Note that the Wales Synod Cymru does not act as Agent in the collection of quarterly assessments from Circuits except in very rare occasions where a problem may have occurred. The Circuits all pay their Assessments direct to the Methodist Church Fund.

In the first two of these matters the transactions are not reflected in the SOFA because there is no obligation on the Synod to make up any shortfall. Any sums received as Circuit assessments cannot be recognised as income in the Synod as they are the income of the Methodist Church Fund, not the Synod.

The value of time donated by volunteers is not recognised. Further information on this matter is provided in the Trustees’ Annual Report.

ix Expenditure

This is recognised when a liability is incurred, regardless of the date of payment. Liabilities are recognised as soon as there is a legal or constructive obligation committing the Synod to pay out resources and that payment becomes probable. Until then any material contingent liabilities are noted.

x Grants

Grants are made annually even when an application is for a recurrent grant over more than one year. A satisfactory report of substance from the individual or grantee body on the previous year’s activities and outcomes is critically reviewed by the Synod Schemes and Grants Committee and is necessary to trigger payment of any further instalment.

xi VAT

Since the Synod is not VAT registered, expenditure is inclusive of VAT where charged by the supplier.

Page 22 Annual Report and Statement of Accounts

Notes to the Accounts

xii Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £1,000. The Cardiff freehold properties are shown in the accounts at 2015 deemed values, of which the land component is deemed to be £152,218. No depreciation is provided on the three buildings because the trustees consider the residual fair value of the manse buildings is not less than the cost and the depreciation would be immaterial. The properties have been reviewed for impairment and none is provided.

xiii Investments

The investments of The Wales Synod Cymru are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. The valuations, at market value, are those provided by TMCP. The unrealised losses arising on investments at the end of the year are shown in the SOFA and in Note 23 below.

xiv Debtors and Creditors; Bank and Cash

Debtors are stated at the amounts owed to the Synod or prepaid. Creditors are initially recognised at settlement amount after any trade discounts, where normal credit terms apply, or amount advanced to the Synod. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid. The liquid funds of bank balances and deposit account balances are shown at the realisable values.

xv Loans

The Synod has not made any loans.

xvi Methodist Church Fund

The Wales Synod Cymru does not generally act as agent for the Methodist Church Fund (MCF) by collecting its assessments on Circuits except in extreme circumstances and does not, therefore, include the assessments in the SOFA.

xvii Funds

The trustees have adopted a policy for all unrestricted reserves which is that, over the medium term, there should be a gradual diminution in the balance in each fund. This includes all unrestricted reserves (the General Fund and the Synod Advance Fund) but not the restricted funds.

xviii Ministers’ manse costs

The Wales Synod Cymru is required to provide accommodation for the Synod Chairs and their family and also for the minister holding the post of Synod Enabler (Culturally Diverse Congregations). The Synod bears the cost of repairs, maintenance and building insurance and also Council Tax and Water Rates on these properties. The Wales Synod Cymru also pays the Council Tax and Water Rates on behalf of the Ministerial Chaplaincy employee who resides in a property rent free owned by the Cardiff Methodist Circuit.

Page 23 Annual Report and Statement of Accounts

Notes to the Accounts

2 Assessments on Circuits

The District is made up of the following Circuits:

Circuit No Circuit Name
2/01 Cymru Circuit
2/03 Bangor & Holyhead
2/06 Bridgend
2/07 Buckley & Deeside
2/09 Cardiff
2/10 Ceredigion
2/12 Conwy & Prestatyn
2/13 Gwent Hills & Vales
2/16 Mid Glamorgan Mission
2/18 Neath Port Talbot
2/19 Newport & Lower Wye
2/20 South West Wales
2/24 Swansea & Gower
2/25 Welshpool & Bro Hafren
2/26 Wrexham
2/27 Vale of Glamorgan

All Circuits paid their assessments as requested to the Synod and to the MCF during the year. An assessment on Circuits is determined annually by the Synod Policy Committee by reference to the number of staff in the Circuits but may also take into account a Circuit’s ability to pay.

4 Contributions to the Methodist Church Fund (MCF)

In addition to the assessments on Circuits (as above) to help defray the costs of running the Synod, Circuits are also assessed towards the costs of running of The Methodist Church in Great Britain which they must pay direct to MCF. These amounts do not pass through the accounts of the Synod and are therefore not included in these financial Statements.

Page 24 Annual Report and Statement of Accounts

Notes to the Accounts

5 Cost of Chair and trustees

The Chair of Synod chairs meetings of the Synod Policy Committee (SPC). The members of the SPC are the trustees of the Synod. The stipend, employer’s NIC and employer’s pension contributions of the Chair of Synod are paid by the Methodist Connexion. The Chair’s other costs are met mostly by the Synod.

et mostly by the Synod.
As restated
2024-25 2023-24
£ £
Stipend of Chairs of District 77,964 73,085
Employer's National Insurance contributions and 9,116 7,574
Employer's pension contributions 12,408 15,624
Cash cost paid by the Connexion (see SOFA, line 6) 99,488 96,283
Chair's expenses 9,953 15,833
Total cost 109,441 112,116

Since the stipend-related costs above ( i.e. £99,488; as restated 2023-24 £96,283) are borne by the Connexion, they appear both in the Income of the Synod and the Expenditure of the Synod (See Note 8). The aggregate expenses of the Chair’s accommodation were £11,429 (see Note 9) making the total cost of their emoluments £110,917. The emoluments of each chair were £55,395 and £55,522 respectively. The Chairs of Synod are the only paid key management people and are supported by members of the SPC.

No accrual is made for the Chair’s entitlement to a sabbatical as he would continue to be paid during his sabbatical and there would be little additional cost incurred by those taking on the Chair’s responsibilities in the short term.

5.1 Payments to trustees

It is Synod policy to offer to reimburse members of the Synod Policy Committee and others involved in the administration of Synod affairs for expenditure properly incurred in carrying out their duties. The Chair of the Synod undertakes the primary executive role within the Synod. Apart from the Chair of Synod no member of the Synod Policy Committee was in receipt of any payment for work undertaken on behalf of the Synod, although certain travelling and administration costs were reimbursed whenever this was requested.

Page 25 Annual Report and Statement of Accounts

Notes to the Accounts

One of the trustees was an employee of the Synod. Apart from the Chair of the Synod, travel and other necessary expenses have been reimbursed to five (as restated 2023-24: three) of the trustees (members of the Synod Policy Committee (SPC)) who, in aggregate, have received the cost of travel incurred in attending meetings and other necessary expenses amounting to £3,522.43 (as restated 2023-24 £1,059.51).

6 Other income

The District does not undertake fundraising for general purposes.

7 Grants and donations and related support costs

Grants and donations totalling £236,347 were made during the year (as restated 2023-24: £161,857).

2024-25 As restated
2023-24
£ £
From General Fund 61,203 60,649
From SAF (see Note 20) 175,144 151,208
Trust 14508 0 (50,000)
Total 236,347 161,857

During the year the General Fund received a Connexional refund of £10,000 from the pension deficit reserve fund.

Expenditure on charitable activities through the Synod Advance Fund

This fund receives formulaically determined contributions from the Circuit Model Trust Funds held by Circuits within the Synod and redistributes the monies to grantees in the Synod through relevant grants as assessed by the Synod Grants Committee. During the year the following grants were made:

following grants were made:
To £ For £
Churches 14,202 Ministry 343,777
Circuits 160,942 Property -
Wales Synod Cymru 188,335 Decarbonisation 19,702
363,479 363,479

The income of the fund was £541,522 (net of costs) during the year, meaning some £178,052 less than total income was paid out in grants in the year.

The Grants Committee is aware that grant applications must demonstrate public benefit.

Page 26 Annual Report and Statement of Accounts

Notes to the Accounts

The support costs for grant-funding to third parties are insignificant (principally because the secretary of the Grants Committee is a volunteer and undertakes the vast majority of this work) and are not separately disclosed.

8.1 Salaries and associated costs

Gross salaries paid to three full time (2023-24: three) and three part time (as restated 202324: two) employees were as follows:

oyees were as follows:
As restated
2024-25 2023-24
£ £
Gross pay 166,001 140,983
Employer's National Insurance
contributions 17,412 13,180
Employer's pension contributions to defined
contribution schemes 12,895 23,597
Apprenticeship levy, computers in ministry
allowance and payroll administration 1,295 1,174
Total costs of staff 197,603 178,934
Cost of Chairs (see Note 5) 99,488 96,283
Total staff costs 297,091 275,217
Total weekly contractual hours of two
(2023-24 two) non-ministerial staff 57.5 57.5

No employees received employee benefits that totalled more than £60,000. There is no accrual for holiday pay as it is immaterial; the holiday year ends on 31 August. All staff are paid at or above the living wage.

Two of the part time members were presbyters / deacons, and one employee provided secretarial assistance at the Synod office. Two of the three full time staff members are presbyters, and the other employee was engaged exclusively in safeguarding matters.

Page 27 Annual Report and Statement of Accounts

Notes to the Accounts

8.2 Pensions

Most ordained presbyters and deacons are members of the Methodist Ministers’ Pension Scheme (MMPS). This is a defined benefit scheme. The Supreme Court held in 2014 that Methodist ministers (which term includes presbyters and deacons) are not employees of the Church. For simplicity, however, when dealing with National Insurance Contributions and pension contributions, the terms ‘employer’ and ‘employee’ are used as they would be in an employing body.

On the other hand, lay employees are contractually employed and have the option of joining the Pension and Assurance Scheme for Lay Employees of the Methodist Church (PASLEMC), The Pensions Trust or some other arrangement. In the case of The Wales Synod Cymru, the Pensions Trust, which is a defined benefit scheme, is that to which Lay Employees are enrolled as members.

The Connexion accounts for both the MMPS and PASLEMC pension schemes and shows the figures in the annual Methodist Church in Great Britain accounts. The MMPS was in deficit but a plan for removal of the deficit has been implemented. Details of the deficits on these schemes can be found in the Annual Report and Accounts of The Methodist Church at www.methodist.org.uk . It would be difficult to determine the liability that could fall on the Wales Synod Cymru and no attempt has been made to calculate this valuation.

9 Property costs

perty costs
2024-25 As restated
2023-24
£ £
Synod office and services 5,000 5,000
Manse Cardiff (General Fund) 5,651 26,078
Manse Powys (General Fund) 5,778 18,101
Manse Cardiff (Trust 14508) 9,916 5,386
Total 26,345 55,222

Synod office costs reflects the charge from Cyncoed Methodist Church for the Synod offices. Refurbishment works took place in 2 of the Manses during the year.

Page 28 Annual Report and Statement of Accounts

Notes to the Accounts

10 Office expenses (General fund)

2024-25 As restated
2023-24
£ £
Printing, photocopying, postage,
telephones		 6,277 6,699
Stationery 124 792
Other office costs 77 487
Total 6,478 7,978

11 Synods, Committees, Conference

2024-25 As restated
2023-24
£ £
Synods 4,885 5,082
Chair’s travel 7,342 9,381
Other 16,269 13,052
Total 28,496 27,515

12 Other outgoings

2024-25 As restated
2023-24
£ £
Chaplaincy expenses 278 4,663
Synod Enabler Ethnic Minorities expenses 6,361 8,184
Safeguarding (excluding salaries) 5,185 2,804
Assistant Chairs 12,964 21,153
Chaplaincy (HE) Cardiff 11,245 4,556
Other expenses 10,154 7,704
Total 46,187 49,064

Page 29 Annual Report and Statement of Accounts

Notes to the Accounts

None of the remaining individual amounts – aggregated as ‘Other’ above - is considered material and none is listed separately.

13 Investment management

During the year the Synod paid £7,461 to TMCP, the custodians of the Synod’s investments (Synod Advance Fund, Manse Reserve Fund, Chair's Discretionary Fund and Trust 14508 (as restated 2023-24: £6,015).

The sum of £6,208 represents a net gain (£Nil realised gain and £6,208 unrealised gain) on the invested funds.

14 Transfers between funds

The transfers between funds shown on the SOFA represent sums that were transferred from one fund to another under the direction of the Trustees.

£880 from CDiM reserve to General Funds to cover CDiM payments made to presbyters.

£55,863 from the Synod Advance Fund to General Funds towards the cost of the District Assessment, as a way of reducing the commitment from Circuits

£15,000 from the Synod Advance Fund to General Funds in support of the Synod Enabler (Culturally Diverse Congregations) post.

£4,000 from the Synod Advance Fund to General Funds in support of the Higher Education Chaplaincy (Cardiff) appointment.

£1,624 from the Synod Advance Fund to General Funds as agreed support for Training.

£1,500 from the Synod Advance Fund to General Funds for Youth work.

£36,600 (net) from Trust 14508 to General Funds in support of the Synod Enabler (Culturally Diverse Congregations) post

£21,500 from Trust 14508 to General Funds to support the Higher Education Chaplaincy (Cardiff) appointment

£12,500 from the Synod Advance Fund to General Funds towards the cost of Safeguarding.

£1,607 from General Funds to the Momentwm Youth Exchange Account towards youth activities.

£21,800 from the Synod Advance Fund to General Funds for Safeguarding, the manse and other costs.

£10,292 from the Synod Advance Fund to General Funds for Deaconal Appointments.

£28,285 from the Synod Advance Fund to General Funds for Assistant Chairs.

£29,971 from the Synod Advance Fund to General Funds towards the inflationary increases in costs, as a way of reducing the commitment from Circuits.

£7,500 from the Synod Advance Fund to General Funds for New Places for New People.

£10,987 from the District Account and District Benevolent Funds to the Cymru Reserve and Talaith Cymru accounts to support the activities of the Synod.

Page 30 Annual Report and Statement of Accounts

Notes to the Accounts

£11,594 from the Cymru Reserve and Talaith Cymru accounts to General Funds to support the work of the Synod.

£1,715 from the Learning and Development Fund to General Funds to support the work of the Synod.

15 Manse and other property

The value of the three manses as at 31[st] August 2025 is believed to be greater than their deemed cost as shown in the accounts. There is no depreciation provision on the manse buildings as it is judged that this would be immaterial.

16 Debtors and prepayments

Shown in advance and due on 1[st] September 2025 is the payment of one month’s stipends for the four Synod presbyteral appointments totalling £10,507 (1[st] September 2024 three presbyteral appointments £8,333).

17 Investments with Trustees for Methodist Church Purposes

The funds that support the Synod Advance Fund, The Chair’s Discretionary Fund, the Manse Reserve Fund and Trust 14508 are held by TMCP in Trustees’ Interest Funds on which interest is credited to the accounts each month. In addition, in some funds, including Trust 14508, the Synod holds units in the Managed Equity Fund, Managed Fixed Interest Fund or the Managed Mixed Fund which are regarded as medium to long-term investments.

TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees (in the Wales Synod Cymru, the Synod Policy Committee) who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

Holdings of units as at 31[st] August 2025 (As restated 2024)

Fund Units £
Managed Equity Fund 7,090 (7,090) 229,588 (223,810)
Managed
Fixed
Interest Fund		 3,919 (3,919) 6,749 (6,905)
Managed Mixed Fund 58,618 (58,618) 318,120 (317,534)
Total 554,457 (548,249)

Page 31 Annual Report and Statement of Accounts

Notes to the Accounts

18 Central Finance Board (CFB) and Cash at Bank

The Synod has three current accounts at Barclays plc, and three at HSBC. The sums held on those accounts are immediately available. In addition, the Synod has three deposit accounts at CFB. Interest is earned on these accounts and credited monthly; the sums deposited can be withdrawn without notice and without loss of interest. The Synod has no other financial instruments. These sums are viewed as being liquid and are shown as current assets on the Balance Sheet.

19 Creditors and accrued expenses

Creditors at 31 August 2025 were £46,623 (as restated 2023/24 £61,823). Included in this are contributions of £29,971 grant from the Synod Advance Fund, £5,000 Connexional Deaconal Grant, £5,310 CDiM, and £3,200 to Momentwm for youth work.

20 Grant Commitments and the Synod Advance Fund

Expenditure on charitable activities: Synod Advance Fund:

Some grants are payable in annual instalments. The Synod expects to receive a report of the outcomes of the first (and subsequent) year’s activities funded by these grants. Future commitments already agreed, but subject to satisfactory reporting, are: -

2025-26
2026-27
2026-27
2027-28
 £278,006
£205,645
£135,741
£64,182
£683,574

After recognising the liabilities for future grants payable through the SAF, there is still a sum of £979,257 available for future grants. In the following year and subsequent years, further sums are expected to be credited to the SAF from the CMTF levies of those years.

The award of a grant by the Synod does not create a contractual relationship.

No individual or institution received grants of such magnitude that they should be separately reported.

Page 32 Annual Report and Statement of Accounts

Notes to the Accounts

21 Unrestricted Funds

21.1 General Fund – balance £719,640 as at 31 August 2025 ( as restated 2024: £686,211)

The purpose of the fund is for use at the discretion of the trustees in the furtherance of the general objectives of the Synod and which have not been designated for other purposes. About 90% of this fund is held as a freehold property, the Synod manses for the Chairs of District. During the year £61,203 was paid out as grants and donations from the General Fund.

21.2 Other Designated Funds – balance £1,210,838 as at 31 August 2025 ( as restated 2024: £1,262,726)

These funds are to serve specific purposes but are not restricted by any document or deed to that purpose alone. Full details, breakdown of balances and the purpose behind each Designated Fund will be found in depth as part of the Trustees’ Annual Report earlier in this document.

22 Restricted Funds - balance £1,836,578 as at 31 August 2025 (as restated 2024: £1,652,836)

The Synod Advance Fund, Chair’s Discretionary Fund, District Account Funds and District Benevolent Funds are restricted funds. Full details, breakdown of the balances and the purpose behind each fund will be found in depth as part of the Trustees’ Annual Report earlier in this document. The assets of both these funds are managed by TMCP. Grants are awarded out of the SAF by the Synod Schemes and Grants Committee on the authority of the SPC who are the Trustees of the Synod.

Page 33 Annual Report and Statement of Accounts

Notes to the Accounts

23 Summary of movements on significant individual funds

----- Start of picture text -----
As restated
Balance at Balance at
Fund 01-Sep-24 Income Expenditure Transfers Gains/ Losses 31-Aug-25
£ £ £ £ £ £
General Fund 686,211 222,031 458,606 270,004 719,640
International Exchange 6,693 - 102 1,608 8,199
Training 10,976 498 - - 11,474
CDiM 21,002 1,155 - - 880 21,277
Synod Reserve 107,458 4,902 - - 112,360
Manse Reserve 30,008 1,230 159 - 31,079
Cymru Reserve 11,193 16 - - 11,209 -
Talaith Cymru Funds 11,296 76 - - 11,372 -
Learning & Development 126,552 5,690 - - 1,715 130,527
Trust 14508 937,548 21,581 11,823 - 58,100 6,224 895,430
Total other designated 1,262,726 35,148 12,084 - 81,668 6,224 1,210,346
Total unrestricted funds 1,948,937 257,179 470,690 188,336 6,224 1,929,986
Synod Advance Fund 1,484,779 546,370 179,992 - 188,335 9 1,662,831
Chair’s Discretionary Fund 4,301 205 14 4,492
District Account Funds 62,107 1,667 203 - 77 63,648
District Benevolent Funds 101,649 4,390 330 - - 102 105,607
Total restricted 1,652,836 552,632 180,539 - 188,335 - 16 1,836,578
Total Funds 3,601,773 809,811 651,229 1 6,208 3,766,564
----- End of picture text -----

24 Related Parties

All of the Synod trustees are members of one or another Church and Circuit within the Synod and may be trustees in their Churches and/or Circuits.

Related parties include the Methodist Connexion, Circuits and Churches within the Synod, other Methodist Districts in Great Britain, Synod Charitable Trust, CFB and TMCP, except as reported in Note 5. All of these entities have their own trustees or directors. The following table shows the receipts from and payments to related parties during 2024/25.

Names of Connected Organisations Receipts Payments Adjustments
£ £ £
Donor/Donee: Circuits within the Wales Synod (assessments
on Circuits/grants and support)		 85,175 186,365
Donor/Donee: Methodist Church Fund 465,595 36,978
Donee: Churches within the Wales Synod(grants) - 22,077

Information about payments to Trustees appears in Note 5.1. During the year the Methodist Church Fund refunded £10,000 from the pension deficit reserve fund.

Page 34 Annual Report and Statement of Accounts

Notes to the Accounts

25 Volunteer contributions

Every entity (Connexion, District, Circuit, Church) within the Methodist Church in GB is heavily reliant on volunteers who contribute their skills, time and money in the furtherance of the work of the Church. In the Wales Synod Cymru the principal contribution is by serving on committees of the Synod that deal with mission, manses, finance, policy, grants, training, development, safeguarding etc. We are grateful to all of them for their help and commitment. No attempt has been made by this District to value the non-monetary contributions to the Synod in monetary terms.

26 Capital commitments and contingent liabilities

There were no capital commitments or contingent liabilities at the year-end (as restated 202324: £Nil).

27 Lease commitments

The Synod had no legal commitments under the terms of any lease but makes a voluntary contribution to Cyncoed Methodist Church towards the upkeep generally of the buildings as this is where the Synod offices are located, to include heating, light and cleaning. This amounted to £5,000 (as restated 2023-24 £5,000).

28 Prior year adjustments

----- Start of picture text -----
Restated Reserves £
Original balance at 31 August 2023 3,333,415
Prior Year Adjustment 121,245
Revised balance at 31 August 2023 3,454,660
Original balance at 31 August 2024 3,475,222
Additional net income 5,305
Prior Year Adjustment 121,245
Revised balance at 31 August 2024 3,601,773
----- End of picture text -----

On 1 September 2024 the Learning & Development Fund Committee came to a natural end and transferred the fund to Wales Synod Cymru. The fund will continue to be used for the same purposes but going forward will be overseen by Wales Synod Cymru. The areas affected in the accounts are set out below.

Other General Funds (Unrestricted) – the learning and development fund has been included within other general funds.

Comprehensive Income – investment income will be shown within income. Grants awarded will be shown within either expenditure or transfers between funds.

Total reserves – these have increased to include the value of the CFB fund.

Page 35 Annual Report and Statement of Accounts

Notes to the Accounts

Declarations and Scrutiny

I confirm that these accruals based accounts for the year ended 31 August 2025 have been prepared from the records of the District and that they include all funds under the control of the District policy Committee.

Signature of Treasurer ………………… ……………………………… Date 7[th] February 2026

Name and address of Treasurer: Chris Randall, Synod Office, Cyncoed Methodist Church, Westminster Crescent, Cardiff CF23 6SE

Presentation to the District Policy Committee

I confirm that the annual report and accounts for the year ended 31 August 2025 were presented to the Synod Policy Committee held on Date: 7[th] February 2026

Signature of the Chair of the meeting …………….. Name of the Chair of the meeting: Rev Dr Jennie Hurd Date: 7[th] February 2026

Signature of the Chair of the meeting …………….. Name of the Chair of the meeting: Rev Andrew Charlesworth Date: 7[th] February 2026

Page 36 Annual Report and Statement of Accounts

Declarations and Scrutiny

Independent Examiner’s Report to the Trustees of the Wales Synod Cymru

Charity Number 1128205

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the Wales Synod Cymru for the year ended 31 August 2025 set on pages 1 to 35. As the Synod’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the District’s accounts carried out under section 145 of the Act and, in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

The Synod’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below*) which give me cause to believe that, in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

I have not* obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date.

Signature of independent examiner

Name of independent examiner: Lauren Pearce

Relevant professional qualification of independent examiner: ACCA

Date