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2025-08-31-accounts

REGISTERED CHARITY NUMBER: 1129520

Report of the Trustees and

Audited Financial Statements

for the Year Ended 31 August 2025

for

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Contents of the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2025

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Page
Report of the Trustees 1 to 9
Report of the Independent Auditors 10 to 13
Statement of Financial Activities 14
Balance Sheet 15 to 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 to 37
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NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The aims and purposes of the North East Somerset & Bath Methodist Circuit are in accordance with the approved governing document issued by the Methodist Conference and defined in the Methodist Church Act 1976 namely:

The advancement of

a) the Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church; b) any charitable purpose for the time being of any Connexional, District, circuit, local or other organisation of the Methodist Church;

c) any charitable purpose for the time being of any society or institution being a 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 to the Methodist Church.

Public benefit

We confirm the trustees have had regard to the Charity Commissioner's guidance on public benefit.

Grantmaking

Detailed applications are submitted to the Circuit Leadership Team (CLT) for consideration. A small scrutiny group of CLT members is appointed to review and discuss the submission with the applicants. This process is to ensure that the proposal is well founded and complies with the funding policy guidelines. Submissions may then be presented to the Circuit Meeting with recommendations for support.

Volunteers

The trustees would like to acknowledge the work carried out across the Circuit by Local Preachers and Circuit Officers, for the work they do supporting and running the Circuit as well as in all of its congregations in leading worship, providing pastoral care and maintaining church premises.

Page 1

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Circuit has continued to provide leadership and support to local churches as they have developed and maintained their worship and mission over the past year. Bath Methodist Church continues to explore the future use of two of its church sites, Beechen Cliff and Weston, with a view to either leasing or selling those sites. A plan in being considered to develop the lower ground floor of Walcot Chapel in order to accommodate a Methodist religious community. The Circuit now has ten churches working across fifteen church sites.

The Circuit manages two Circuit Mission Projects: the Southdown and Whiteway Church and Community Partnership which works to support low income and disadvantaged individuals and families through a range of services and the With You project which, under the oversight of the Circuit's Students' Chaplain provides chaplaincy ministry across the two universities of Bath. A growing aspect of the With You project focuses on strengthening the relationships between the student community and the local community. A new full time Student Chaplain was appointed during the year, beginning in post on 1 September 2025.

The Circuit Manses Strategy Group continues to consider the best use of those Circuit manses no longer used to house ministerial staff. It is planned that the Timsbury Chapel and two manses no longer required by the Circuit will be sold in the coming year.

The Circuit Meeting in June 2025 agreed to reduce the ministerial staff of the Circuit from 5.5 ministers to 4.5 in order to more closely reflect the minister/church membership ratio across the wider Methodist Church, and as part of our long term strategy to move towards a balanced annual budget.

The Circuit continues to oversee the ongoing implementation of GDPR and provision of Safeguarding training and updating of Safeguarding records.

Page 2

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

Financial position

For the year 2024/25 the Circuit funds have net income of £35,538 (2024 - £332,722 net expenditure) In addition, there were net gains on the revaluation of investments of £116,555 (2024 - £190,771) with £115,000 of this relating to the revaluation of rental properties (treated as investment properties in accordance with the Charities SORP).

The Circuit Model Trust Fund (CM'S) net reduction in funds of £125,749 (as shown in note 21) was driven by the need to transfer funds to the CAF and CFB accounts to accommodate the costs for stipends, district levy and salaries during the year.

Expenditure (excluding the loss on the sale of fixed assets in the prior year) decreased by 16% compared to last year (2024 - increase of 4%). This decrease was driven by a reduction in repairs and renovations to properties during the year and there was no CPF levy payable due to no property sale this year, compared to the prior year.

Income has increased by approximately 23% (2024 - 7%). The increase in income is due to a transfer of trusteeship of land adjacent to Paulton Methodist Church totalling £180,000. However, church pledges remained static and below that required to meet circuit operating costs.

The General fund sits at £32,060 (2024 - £61,394) and all other unrestricted and restricted accounts have a healthy balance. Essentially the circuit's free funds have been exhausted and relies on Model Trust funds which are subject to Model Trust spending rules.

The Circuit's grant funding for the year was £21,012 (2024 - £32,554) with further internal grants of £25,000 for internal purposes (2024 - £29,860).

There were no significant underspends against budget. Additional professional fees have been paid for a number of inspection reports relating to manse safety checks and property sales.

The pledged income from the churches has not kept pace with the impact of inflation on payroll and other costs. This represents a continuing challenge to the churches that are under pressure as the general trend is a decline in membership and income. It is a challenge to the Circuit to manage appropriate funding in the coming years.

The annual budget set for 2025/26 shows an anticipated shortfall of £137,000. This will be met by drawdown of funds from the Model Trust Fund (MTF) as per agreed Circuit Meeting policy.

Investment policy and objectives

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 Circuits and for all large (over £20K) bequests and for the proceeds of sale of any property formerly owned by the Circuit. These sums are invested in unitised investments or held on deposit. The investment returns are close to tracking the movements in the FTSE 100 index. The deposit income mirrors the deposit rates elsewhere. The Circuit's investment policy is aligned with that of the Central Finance Board (CFB) and TMCP because these organisations take into consideration the social, environmental and ethical considerations, both negatively and positively, that make investments suitable to the Methodist Church.

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

There are no benchmarks for the expected returns or appreciation on investments at TMCP and CFB. It is the Circuit's policy to manage the cash and investment resources of the Circuit 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 Circuits low appetite for risk. The interest rate achieved on CFB deposits has been between 0.10% and 0.45% during the year.

Page 3

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

Reserves policy

Most churches seek to have six months' expenditure in reserve to provide a working cash balance and extra funds to cover the eventuality of loss of income or emergency costs. Six months net costs based on an average of the 2023/24 and 2024/25 Annual Reports and Accounts would require £300,000 as the reserve figure for the Circuit. Any utilisation of this reserve must be approved by the Circuit Meeting.

When funds are held in excess of the reserve limit these should be used in a planned way over a period of time. A list is noted below of projects or activities which may be expected to access reserves subject to Circuit Meeting approval:

Money and investments held are either:

FUTURE PLANS

During the coming year the trustees on the Circuit Leadership Team and Circuit Meeting will be working towards producing a Circuit Mission and Staffing Strategy with a view to enabling the best use of our resources in terms of people, property and finances, to fulfil the mission of the circuit and its member churches.

Plans are in place to liquidate fixed property assets to increase cash reserves.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The governing document for the Circuit is the Deed of Union (1932) and Methodist Church Act (1976).

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).

Day to day management of the Circuit is undertaken by the Circuit Stewards along with the Circuit Meeting and the Circuit Leadership Team.

Page 4

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

Only members of the Methodist Church may be appointed as trustees. Circuit trustees include the following:

a) the Superintendent Minister and other Ministers and Deacons appointed to the Circuit.

b) Supernumerary Ministers who reside in the Circuit are appointed as trustees if they inform the Superintendent Minister of their wish to be a member of the Circuit Meeting.

c) two or more Circuit Stewards are appointed annually by the Circuit meeting.

d) the secretary of the Circuit Meeting.

e) the secretary of the Local Preachers' Meeting.

f) from each Local Church one church steward and the church treasurer.

g) representatives elected by the Church Council of each Local Church from its own members in numbers specified by the Circuit Meeting.

h) such persons, if any, as the Circuit Meeting judges it appropriate to appoint from amongst those employed by the Circuit. i) additional persons as the Circuit Meeting may desire to ensure that all areas of the life of the Circuit are adequately represented.

Organisational structure

The North East Somerset and Bath Methodist Circuit was formed in 2008 and covers both the City of Bath and the North Somerset Local Authorities, plus Box.

The Circuit forms a part of the Bristol District of the Methodist Church. The Circuit is the body which coordinates the activities of employed ministers and church workers throughout the member churches. The member churches are:

Bathampton Bath Box Chew Stoke Farrington Gurney Keynsham (Queens Road & Victoria) Midsomer Norton Paulton Peasedown St John (including Timsbury) Trinity - Westfield

Decision making

The Circuit Meeting is the principal decision making body of the Circuit responsible for the affairs of the Circuit and the development of circuit policy. It exercises a combination of spiritual leadership with appropriate administrative support. The purpose is to act as the focal point of the working fellowship of the churches in the Circuit, overseeing their pastoral, training and evangelistic work.

A Circuit Meeting is held three or four times each year to plan and review the activity of the Circuit.

The Circuit Leadership Team which includes ministers and stewards is responsible for the spiritual and material wellbeing of the circuit and for upholding and acting upon the decisions of the Circuit Meeting.

The Circuit Leadership Team meets regularly to manage Circuit property, employment, finance and consider matters arising from their oversight of the local churches.

Page 5

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees

Every trustee is provided with a copy of the document "The Role of A Trustee in the Methodist Church" published by the Trustees for Methodist Church Purposes in 2009.

Safeguarding

The Circuit, through our Safeguarding Officer and local Safeguarding Officers, continue to ensure there are robust safeguarding processes in place to protect children, young people and vulnerable adults from harm. This includes DBS checks and regular training opportunities for paid staff and volunteers.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Circuit continues to assess risks in terms of finance, property and staffing and procedures have been introduced to manage these risks.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1129520

Principal address

c/o Midsomer Norton Methodist Church High Street Midsomer Norton Radstock BA3 2DR

Page 6

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

Trustees

The members of North East Somerset & Bath Methodist Circuit meeting are the Charity Trustees. Membership is made up from circuit office holders, ministers and representatives appointed by the local churches.

The following were Managing Trustees from September 2024:

Ministe rs

Rev Dr S Topping (Chair) Rev C Coram Deacon E Harfleet Rev J Tate (to 20/7/25) Rev J Hayes Rev P Turner Rev R A Lansley Rev I Souter Rev J Carne

Rev D Winstanley Rev K Thomas Rev D Musgrave

Circuit Stewards

Miss S H Green Mr P Keevill Mr I Sims (to 12/6/25) Mr T Purches

Mr R Kaye

Representatives

Mr A Bain Mrs L Hinton Mr G James Miss E J Button Mrs A Hurford Miss B J Phillips Mrs D J Cutlan Mrs S Keevill (to 31/8/25) Mrs E Rolls (from 1/9/24) Mrs M Hatherell Mrs J Knight Mrs S Tandy (to 31/8/25) Mrs G R I Hull Mrs J M Miners Mrs J Yates Mr A Knight Mr D S Pendle Rev J Albrow (from 1/9/25) Mr J Midgley (from 1/9/24) Mr N Quilter Ms K Chun (from 1/9/25) Mr R S J Pierce Mrs H Bevan (from 1/9/24) Mrs A Sims Mrs H Bowell Mrs S Bown Mrs E Church Prof M Danson Mr F Day Mrs C Edge (to 12/6/25) Rev J Flowers (from 1/9/24) Mrs E Kenyon (to 31/8/25) Mrs Ruth Horler

Auditors

Gravita Audit Western Limited Chartered Accountants and Statutory Auditors 2nd Floor, South One Castle Park Tower Hill Bristol BS2 0JA

Page 7

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Bankers and Investment Bankers

CAF Bank Limited 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4JQ

Central Finance Board of the Methodist Church 9 Bonhill Street, London, EC2A 4PE

Trustees for Methodist Church Purposes Central Buildings Oldham Street, Manchester, M1 1JQ

Lloyds Bank Plc PO Box,1000, Andover, BX1 1LT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 8

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Report of the Trustees FOR THE YEAR ENDED 31 AUGUST 2025

09/06/2026 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... Rev S Topping - Trustee

Page 9

Report of the Independent Auditors to the Trustees of North East Somerset & Bath Methodist Circuit

Opinion

We have audited the financial statements of North East Somerset & Bath Methodist Circuit (the 'charity') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 10

Report of the Independent Auditors to the Trustees of North East Somerset & Bath Methodist Circuit

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Page 11

Report of the Independent Auditors to the Trustees of North East Somerset & Bath Methodist Circuit

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:

(i) We obtained an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which it operates. We determined the following laws and regulations of most significance were: Charity SORP 2019 and UK GAAP. (ii) We obtained an understanding of how the charity complies with those legal and regulatory frameworks by making inquiries of management. We corroborated our enquiries through our review of board minutes and other relevant meeting minutes.

(iii) We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 12

Report of the Independent Auditors to the Trustees of North East Somerset & Bath Methodist Circuit

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Gravita Audit Western Limited Chartered Accountants and Statutory Auditors 2nd Floor, South One Castle Park Tower Hill Bristol BS2 0JA 09/06/2026 Date: .............................................

Page 13

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Statement of Financial Activities FOR THE YEAR ENDED 31 AUGUST 2025

Notes
INCOME AND
ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Management of the Circuit
Raising funds
3
Investment income
4
Other income
6
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
8
Management of the Circuit
Southdown Church Centre
SWCCP
Circuit grants
With You project
Loss on disposal of fixed assets
Total
Net gains on investments
NET
INCOME/(EXPENDITURE)
Transfers between funds
21
Net movement in funds
RECONCILIATION OF
FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
funds
£
208,729
346,986
95,767
30,387
5,670
687,539
6,290
535,267
47,979
25,463
18,035
35,024
-
668,058
115,566
135,047
14,605
149,652
6,055,888
6,205,540		 Restricted
fund
£
13,334
-
-
-
-
13,334
-
-
-
-
-
-
-
-
-
13,334
(11,881)
1,453
5,342
6,795		 Endowment
funds
£
-
-
-
2,975
-
2,975
-
252
-
-
-
-
-
252
989
3,712
(2,724)
988
77,250
78,238		 2025
Total
funds
£
222,063
346,986
95,767
33,362
5,670
703,848
6,290
535,519
47,979
25,463
18,035
35,024
-
668,310
116,555
152,093
-
152,093
6,138,480
6,290,573		 2024
Total
funds
£
40,519
368,008
87,285
42,177
35,109
573,098
4,125
640,686
50,040
28,675
25,950
45,146
111,198
905,820
190,771
(141,951)
-
(141,951)
6,280,431
6,138,480

The notes form part of these financial statements

Page 14

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Balance Sheet 31 AUGUST 2025

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
15
4,040,302
Investments
Investments
16
58,145
Investment property
17
1,540,000
5,638,447
CURRENT ASSETS
Debtors
18
31,696
Cash at bank
610,018
641,714
CREDITORS
Amounts falling due within one
year
19
(64,571)
NET CURRENT ASSETS
577,143
TOTAL ASSETS LESS
CURRENT LIABILITIES
6,215,590
CREDITORS
Amounts falling due after more
than one year
20
(10,050)
NET ASSETS
6,205,540		 Restricted
fund
£
-
-
-
-
-
6,795
6,795
-
6,795
6,795
-
6,795		 Endowment
funds
£
-
31,951
-
31,951
-
46,287
46,287
-
46,287
78,238
-
78,238		 2025
Total
funds
£
4,040,302
90,096
1,540,000
5,670,398
31,696
663,100
694,796
(64,571)
630,225
6,300,623
(10,050)
6,290,573		 2024
Total
funds
£
4,040,302
88,395
1,245,000
5,373,697
25,216
821,958
847,174
(70,391)
776,783
6,150,480
(12,000)
6,138,480

The notes form part of these financial statements

continued...

Page 15

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Balance Sheet - continued 31 AUGUST 2025

FUNDS
21
Unrestricted funds
Restricted funds
Endowment funds		 6,205,540
6,055,888
6,795
5,342
78,238
77,250
TOTAL FUNDS 6,290,573
6,138,480
The financial statements were approved by the Board of Trustees and authorised for issue on .............................................
and were signed on its behalf by:
09/06/2026

............................................. Rev S Topping - Trustee

The notes form part of these financial statements

Page 16

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Sale of tangible fixed assets
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Income attributable to endowment
Expenditure attributable to endowment
Net cash provided by financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period		 2025
£
(194,943)
(194,943)
-
33,362
33,362
2,975
(252)
2,723
(158,858)
821,958
663,100		 2024
£
(207,386)
(207,386)
178,802
42,177
220,979
3,255
(212)
3,043
16,636
805,322
821,958

The notes form part of these financial statements

Page 17

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Cash Flow Statement FOR THE YEAR ENDED 31 AUGUST 2025

1.
RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM
ACTIVITIES
2025
£
Net income/(expenditure) for the reporting period (as per the Statement
of Financial Activities)
152,093
Adjustments for:
Gain on investments
(116,555)
Loss on disposal of fixed assets
-
Interest received
(33,362)
Income attributable to endowment
(2,975)
Expenditure attributable to endowment
252
Assets transferred from other churches
(180,000)
(Increase)/decrease in debtors
(6,480)
(Decrease)/increase in creditors
(7,916)		 OPERATING
2024
£
(141,951)
(190,771)
111,198
(42,177)
(3,255)
212
-
14,218
45,140
Net cash used in operations
(194,943)		 (207,386)

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.24
£
Net cash
Cash at bank
821,958		 Cash flow
At 31.8.25
£
£
(158,858)
663,100
821,958 (158,858)
663,100
Total
821,958		 (158,858)
663,100

The notes form part of these financial statements

Page 18

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value and investment properties which are included at fair value.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The trustees consider that the charity has sufficient cash reserves to continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved.

Critical accounting judgements

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Income

Income is brought into account when there is entitlement and the amount is reliably measurable once it is more than likely than not that the economic benefit of the income will be forthcoming.

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

Where the Circuit acts as agent in the collection from churches and payment over of their contributions to various funds controlled and administered by The Methodist Church -'Connexional Funds', the transactions are not reflected in the SOFA because they are the income of either the Connexion or churches as appropriate.

In accordance with the charities SORP (FRS102), the time of volunteers is not recognised.

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable, where all conditions associated with the grant have been met. Where conditions exist which remain unsatisfied, the grant is treated as a liability until the conditions have been substantially met.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

continued...

Page 19

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

Expenditure

Connexional Priority Fund Levies, payable on the sale of most properties, are recognised at the point of sale of the property.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Governance costs

Governance costs comprise all costs involved in the public accountability of the charity and its compliance with regulation and good practice.

Tangible fixed assets

Properties held as functional assets comprise manses used for housing ministers and buildings let on a temporary basis or for community purposes.

From time to time, the Circuit may hold residential property (formerly manses) which is surplus to its normal staffing requirements. When the intention is to hold the property for capital appreciation or its rental income, the property is reclassified as investment property and carried at fair value.

Churches which are closed are transferred into the care of the Circuit from the Methodist Church and are valued at a deemed cost based on the valuation of an external valuer.

Fixed asset properties that were held at 1 September 2015 are included in the financial statements at deemed historic cost representing each property's gross carrying value as at 1 September 2015. The Circuit made use of the deemed cost transitional provisions of FRS 102 SORP 2015.

Manses purchased subsequent to 1 September 2015 are included at actual cost.

No depreciation is provided on manses and rental properties because the trustees consider the current residential fair value of the manses and rental properties (on the assumption that these have not reached the end of their useful economic life by the year end) to be not less than their cost to date. Any depreciation would not be material. The properties have been reviewed for impairment.

Office equipment is depreciated on a 25% straight line basis.

Investment property

Properties are recognised as investment properties when the intention is that they will be held for capital appreciation or rental income. Investment properties include buildings passed to the Circuit, and treated as capital receipts, where the intention is to sell the property.

Investment properties are revalued annually based on periodic professional valuations as adjusted by the trustees using suitable indices in the intervening periods with changes in fair value recognised in 'net gains / (losses) on investments' in the SOFA.

Fund accounting

Unrestricted funds are incoming resources receivable or generated for the objects of the District without further specified purpose. They are available as general funds and can be used in accordance with the charitable objectives at the discretion of the trustees.

continued...

Page 20

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

Fund accounting

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets the criteria is charged to the fund together with a fair allocation of support costs where appropriate.

Endowment funds represent restricted gifts, the capital normally being unavailable for spending.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Taxation

The charity is exempt from tax on its charitable activities.

VAT

Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

Pension costs and other post-retirement benefits

Most ordained presbyters are members of the 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, the terms 'employer' and 'employee' are used as they would be in an employing body.

The scheme is a multi-employer scheme as described in Section 28 of FRS 102 as it is not possible to attribute the scheme's assets and liabilities to specific employers. This means that contributions are accounted for as if the scheme were a defined contribution scheme.

Lay employees are contractually employees of the Circuit and have the option of joining a multi-employer defined contribution scheme operated by TPT Retirement (formerly The Pensions Trust).

The Connexion accounts for MMPS and shows the figures in the annual Methodist Church in Great Britain accounts. The MMPS is in deficit but a plan for removal of the deficit has been proposed and is being implemented.

Debtors

Debtors are measured on initial recognition at settlement amount after any amounts advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Debtors include the payment of the September stipend in advance in August.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

Creditors

The charity has creditors which are measured at settlement amounts.

continued...

Page 21

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the charity's contractual obligations are discharged, cancelled, or they expire.

2. DONATIONS AND LEGACIES

Unrestricted
funds
£
Donations
22,247
Gift aid
1,161
Grants
5,321
Assets transferred from
ceasing churches
180,000
208,729		 Restricted
Endowment
funds
funds
£
£
-
-
-
-
13,334
-
-
-
13,334
-		 2025
Total
funds
£
22,247
1,161
18,655
180,000
222,063		 2024
Total
funds
£
24,519
1,180
14,820
-
40,519

During the year, £180,000 was received from a ceasing church. Without this, a deficit before revaluations of £144,462 would have been realised.

continued...

Page 22

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

District Advance Fund
Warm Spaces
JustSow UK
3.
RAISING FUNDS
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Fundraising events
2,964
-
-
Lettings
92,803
-
-
95,767
-
-
4.
INVESTMENT INCOME
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Interest and investment
income
30,387
-
2,975		 2025
£
17,655
-
1,000
18,655
2025
Total
funds
£
2,964
92,803
95,767
2025
Total
funds
£
33,362		 2024
£
14,320
500
-
14,820
2024
Total
funds
£
6,031
81,254
87,285
2024
Total
funds
£
42,177

continued...

Page 23

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

5. INCOME FROM CHARITABLE ACTIVITIES

Activity
Assessment or share
Management of the Circuit
OTHER INCOME
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Church worker contribution
5,484
-
-
Insurance claim
-
-
-
Refund of grant
-
-
-
Other income
186
-
-
5,670
-
-		 2025
£
346,986
2025
Total
funds
£
5,484
-
-
186
5,670		 2024
£
368,008
2024
Total
funds
£
5,181
4,928
25,000
-
35,109

6. OTHER INCOME

INCOME ANALYSIS BY LOCATION

The income below is included within income in the Statement of Financial Activities and relates to two activities of the charity: Southdown Church Centre and Southdown Whiteway Church & Community Partnership (SWCCP). A breakdown of income attributable to each activity is presented below.

Southdown
Church
Centre SWCCP
£ £
Donations and legacies
Donations 806 21,440
Gift aid - 1,161
Grants - 4,320
806 26,921
Raising funds
Fundraising events - 2,964
Lettings 45,067 -
45,067 2,964
Investment income
Interest and investment income 2,418 2,216
Other income 150 -
Total income 48,441 32,101

continued...

Page 24

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

7. RAISING FUNDS

Investment management costs

Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Agency fees
6,290
-
-
8.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct
activities
Costs (see
(see note
note 9)
10)
£
£
Management of the Circuit
516,080
-
Southdown Church Centre
47,979
-
SWCCP
22,486
2,977
Circuit grants
-
18,035
With You project
35,024
-
621,569
21,012
9.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Other ministry costs
District assessment and levy
CPF levy
Office and admin costs
Property costs
SCC property costs
SWCCP activities		 2025
Total
funds
£
6,290
Support
costs (see
note 11)
£
19,439
-
-
-
-
19,439
2025
£
381,820
3,032
125,902
-
19,112
55,188
28,341
8,174
621,569		 2024
Total
funds
£
4,125
Totals
£
535,519
47,979
25,463
18,035
35,024
662,020
2024
£
349,509
2,893
122,329
41,623
22,794
177,953
19,452
7,305
743,858

continued...

Page 25

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

10. GRANTS PAYABLE

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£|£| |SWCCP|2,977|6,604| |Circuit grants|18,035|25,950| |21,012|32,554| |The total grants paid to institutions during the year was as follows:| |2025|2024| |£|£| |Other grants|3,089|7,554| |Bath Methodist Church|-|10,000| |-| |The Hive, Peasedown St John|15,000| |Paulton Methodist Church|14,848|-| |-| |Churches Together Keynsham and Saltford Chaplaincy|3,075| |21,012|32,554|

----- End of picture text -----

In addition, internal grants of £25,000 (2024 - £25,000) and £nil (2024 - £4,860) were made to support the roles of Student Chaplain and Southdown Layworker respectively. A contribution of £2,675 was paid from Southdown Church Centre to the Southdown Partnership and £4,200 was paid from the Southdown Partnership to Southdown Church (2024 - £2,500 from Southdown Church to the Southdown Partnership).

11. SUPPORT COSTS

----- Start of picture text -----
||| |---|---| |Governance| |costs| |£| |Management of the Circuit|19,439|

----- End of picture text -----

continued...

Page 26

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

11. SUPPORT COSTS - continued

Support costs, included in the above, are as follows:

Governance costs

Governance costs
Auditors' remuneration
Other non-audit services		 2025
2024
Management
of the
Total
Circuit
activities
£
£
7,900
6,260
11,539
7,825
19,439
14,085

12. TRUSTEES' REMUNERATION AND BENEFITS

The members of the Circuit Meeting are the trustees of the Circuit. One Superintendent, four Circuit Stewards and five other ministers form the Circuit leadership Team, have additional responsibilities and are considered as key management personnel.

Circuit Steward expenses of £96 was paid to one Circuit Steward for the year ended 31 August 2025 (2024 - £127). None of the Circuit Stewards received any remuneration in the year.

The total remuneration paid to ministers in their role as presbyters was £288,984 (2024 - £242,254). Expenses relating to travel, training and other costs of £6,268 (2024 - £7,797) were also paid to ministers.

13. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Ministers
Lay staff		 2025
£
305,414
28,722
47,684
381,820
2025
7
7
14		 2024
£
275,922
22,009
51,578
349,509
2024
6
8
14

No employees received emoluments in excess of £60,000.

continued...

Page 27

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

----- Start of picture text -----
14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Endowment Total
funds fund funds funds
£ £ £ £
INCOME AND ENDOWMENTS FROM
-
Donations and legacies 29,449 11,070 40,519
Charitable activities
- -
Management of the Circuit 368,008 368,008
- -
Raising funds 87,285 87,285
Investment income 38,922 - 3,255 42,177
Other income 35,109 - - 35,109
Total 558,773 11,070 3,255 573,098
EXPENDITURE ON
- -
Raising funds 4,125 4,125
Charitable activities
Management of the Circuit 640,474 - 212 640,686
Southdown Church Centre 50,040 - - 50,040
SWCCP 28,675 - - 28,675
- -
Circuit grants 25,950 25,950
- -
With You project 45,146 45,146
- -
Loss on disposal of fixed assets 111,198 111,198
Total 905,608 - 212 905,820
-
Net gains on investments 187,328 3,443 190,771
NET INCOME/(EXPENDITURE) (159,507) 11,070 6,486 (141,951)
Transfers between funds 23,191 (20,146) (3,045) -
Net movement in funds (136,316) (9,076) 3,441 (141,951)
RECONCILIATION OF FUNDS
Total funds brought forward 6,192,204 14,418 73,809 6,280,431
TOTAL FUNDS CARRIED FORWARD 6,055,888 5,342 77,250 6,138,480
----- End of picture text -----

continued...

Page 28

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

15.
TANGIBLE FIXED ASSETS
COST
At 1 September 2024 and 31 August 2025
DEPRECIATION
At 1 September 2024 and 31 August 2025
NET BOOK VALUE
At 31 August 2025
At 31 August 2024
16.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 September 2024
Revaluations
At 31 August 2025
NET BOOK VALUE
At 31 August 2025
At 31 August 2024		 Manses
and
church
properties
£
4,040,302
-
4,040,302
4,040,302		 Computer
equipment
£
949
949
-
-		 Totals
£
4,041,251
949
4,040,302
4,040,302
TMCP
£
88,395
1,701
90,096
90,096
88,395

There were no investment assets outside the UK.

continued...

Page 29

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

17. INVESTMENT PROPERTY

FAIR VALUE
At 1 September 2024
Additions
Revaluation
At 31 August 2025
NET BOOK VALUE
At 31 August 2025
At 31 August 2024		 £
1,245,000
180,000
115,000
1,540,000
1,540,000
1,245,000

The investment properties that are let were valued by the Trustees at 31 August 2025 at a value of £1,540,000 based on post year end estimates made by a Circuit trustee who is a Chartered Surveyor and Registered Valuer. This includes total additions of £180,000 in relation to building plots adjacent to the Methodist Church Premises.

At the year end, an impairment review of the letting properties was carried out and the fair value is not considered to be materially misstated.

18.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income		 2025
£
1,375
30,321
31,696		 2024
£
-
25,216
25,216

continued...

Page 30

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

----- Start of picture text -----
19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 13,837 30,424
Social security and other taxes - 110
Sundry creditors and accruals 16,206 7,370
Grants payable 5,025 13,000
Assessments in advance 29,503 19,487
64,571 70,391
20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£ £
Grants payable 10,050 12,000
21. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.9.24 in funds funds 31.8.25
£ £ £ £
Unrestricted funds
General Fund 61,394 (113,266) 83,932 32,060
Circuit Model Trust Fund 446,679 (23,749) (102,000) 320,930
Southdown Church Centre Fund 63,362 462 1,525 65,349
Arthur Heal Bequest Fund 25,745 1,668 (1,019) 26,394
John Guy Heal Bequest Fund 78,225 2,276 (2,189) 78,312
-
Clutton: Sale of Cottage Fund 37,900 1,684 39,584
SWCCP Fund 51,861 6,638 (1,525) 56,974
-
Properties Fund 5,285,302 295,000 5,580,302
Other designated funds 5,420 215 - 5,635
- -
With You Fund - internal funding (35,881) 35,881
6,055,888 135,047 14,605 6,205,540
Restricted funds
With You Fund - external funding 5,342 13,334 (11,881) 6,795
Endowment funds
Henry Perry Bequest Fund 67,885 3,364 (2,380) 68,869
Other endowment funds 9,365 348 (344) 9,369
77,250 3,712 (2,724) 78,238
TOTAL FUNDS 6,138,480 152,093 - 6,290,573
----- End of picture text -----

continued...

Page 31

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

21. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Circuit Model Trust Fund
Southdown Church Centre Fund
Arthur Heal Bequest Fund
John Guy Heal Bequest Fund
Clutton: Sale of Cottage Fund
SWCCP Fund
Properties Fund
Other designated funds
With You Fund - internal funding
Restricted funds
With You Fund - external funding
Endowment funds
Henry Perry Bequest Fund
Other endowment funds
TOTAL FUNDS		 Incoming
resources
£
400,982
19,258
48,441
1,278
2,442
1,807
32,101
180,000
230
1,000
687,539
13,334
2,601
374
2,975
703,848		 Resources
expended
£
(514,248)
(43,007)
(47,979)
(86)
(254)
(123)
(25,463)
-
(17)
(36,881)
(668,058)
-
(221)
(31)
(252)
(668,310)		 Gains and
Movement
losses
in funds
£
£
-
(113,266)
-
(23,749)
-
462
476
1,668
88
2,276
-
1,684
-
6,638
115,000
295,000
2
215
-
(35,881)
115,566
135,047
-
13,334
984
3,364
5
348
989
3,712
116,555
152,093

continued...

Page 32

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

21. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General Fund
Circuit Model Trust Fund
Southdown Church Centre Fund
Arthur Heal Bequest Fund
John Guy Heal Bequest Fund
Clutton: Sale of Cottage Fund
SWCCP Fund
Properties Fund
Other designated funds
With You Fund - internal funding
Restricted funds
With You Fund - external funding
Endowment funds
Henry Perry Bequest Fund
Other endowment funds
TOTAL FUNDS		 At 1.9.23
£
57,835
496,441
63,647
24,712
74,821
36,054
41,125
5,392,465
5,104
-
6,192,204
14,418
64,624
9,185
73,809
6,280,431		 Net
movement
in funds
£
(146,400)
(171,700)
2,215
2,139
6,150
1,846
8,236
182,837
316
(45,146)
(159,507)
11,070
5,899
587
6,486
(141,951)		 Transfers
between
funds
£
149,959
121,938
(2,500)
(1,106)
(2,746)
-
2,500
(290,000)
-
45,146
23,191
(20,146)
(2,638)
(407)
(3,045)
-		 At
31.8.24
£
61,394
446,679
63,362
25,745
78,225
37,900
51,861
5,285,302
5,420
-
6,055,888
5,342
67,885
9,365
77,250
6,138,480

continued...

Page 33

NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

21. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Circuit Model Trust Fund
Southdown Church Centre Fund
Arthur Heal Bequest Fund
John Guy Heal Bequest Fund
Clutton: Sale of Cottage Fund
SWCCP Fund
Properties Fund
Other designated funds
With You Fund - internal funding
Restricted funds
With You Fund - external funding
Endowment funds
Henry Perry Bequest Fund
Other endowment funds
TOTAL FUNDS		 Incoming
resources
£
412,228
51,230
52,042
1,203
2,959
1,948
36,911
-
252
-
558,773
11,070
2,822
433
3,255
573,098		 Resources
expended
£
(558,628)
(222,930)
(49,827)
(71)
(213)
(102)
(28,675)
-
(16)
(45,146)
(905,608)
-
(185)
(27)
(212)
(905,820)		 Gains and
Movement
losses
in funds
£
£
-
(146,400)
-
(171,700)
-
2,215
1,007
2,139
3,404
6,150
-
1,846
-
8,236
182,837
182,837
80
316
-
(45,146)
187,328
(159,507)
-
11,070
3,262
5,899
181
587
3,443
6,486
190,771
(141,951)

General Fund

The purpose of this fund is for the use at the discretion of the trustees in the furtherance of general objectives of the Circuit and which have not been designated for other purposes.

Circuit Model Trust Fund (designated)

The purpose of this fund is for the use at the discretion of the trustees in the furtherance of general objectives of the Circuit. Its main source of income is legacies and contributions from the sale of manses and church buildings in the Circuit.

Properties Fund (designated)

This fund reflects the value of properties held by the Circuit. The fund comprises fixed asset properties held as functional assets of the Circuit (held at cost or deemed cost) and investment properties held for their rental income together with buildings transferred to the Circuit for disposal (held at fair value).

Southdown Church Centre (designated)

Southdown Methodist Church Centre is a Christian community offering affordable rooms and communal spaces to community groups and organisations including Bath Methodist Church and the Community Partnership.

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NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

21. MOVEMENT IN FUNDS - continued

Southdown Whiteway Church and Community Partnership Fund (designated)

This fund represents the charitable activity of supporting disadvantaged people and communities in Southdown, Twerton and Whiteway through lunch club, toddler group and support advice.

Clutton Sale of Cottage Fund (designated)

The fund represents sale proceeds set aside for general fund purposes.

Arthur Heal and John Guy Heal Bequest Funds (designated)

These funds reflect legacies where there is no restriction.

With You Fund - internal funding (designated)

This fund reflects funding earmarked by the trustees from the Circuit Model Trust Fund for the student chaplain position.

Henry Perry Bequest Fund and other endowment funds (endowment)

Funds represent legacies where the income is available for general fund purposes.

With You Fund - external funding (restricted)

This fund reflects funding received specifically for the student chaplain position from external donors.

TRANSFERS BETWEEN FUNDS

An internal grant of £25,000 was made from Model Trust Fund to the With You internal funding reflecting the Circuit contribution to the post of Student Chaplain (2024 - £25,000). A transfer of £1,525 was made during the year between Southdown Church Centre and SWCCP.

Transfer of £11,881 was made from With You Fund - external funding and the With You Fund - internal funding to reflect the use of external grants and donations in the year. During the year a further transfer of £24,000 was made to the designated fund With You Fund to over the cost of activities carried out (2024 - £20,146).

Transfers of £2,724 were made from the endowment funds representing the net income generated from these funds.

Transfers totalling £81,208 were made to the General Fund to finance stipends throughout the year.

In the prior year, transfers totalling £174,062 were made to the General fund to finance necessary repairs of manse, stipends and other costs throughout the year.

In the prior year, £290,000 was released from the Property Fund to the Model Trust Fund being the sale of Trinity Radstock.

Comparative analysis of net funds between funds, are as follows:

----- Start of picture text -----
|||||| |---|---|---|---|---| |Fund balances as at 31 August 2025|Unrestricted|Restricted|Endowment|Total| |funds|funds|funds|funds| |£|£|£|£| |Fixed assets|5,638,447|-|31,951|5,670,398| |Current assets|641,713|6,795|46,287|694,795| |Current liabilities|(64,570)|-|-|(64,570)|

----- End of picture text -----

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NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

21. MOVEMENT IN FUNDS - continued

Liabilities more than 1 year (10,050) - - (10,050)
Total net assets
6,205,540		 6,795 78,238 6,290,573
Fund balances as at 31 August 2024
Unrestricted		 Restricted
Endowment		 Total
funds funds funds funds
£ £ £ £
Fixed assets
5,342,735		 - 30,962 5,373,697
Current assets 795,544 5,342 46,288 847,174
Current liabilities (70,391) - - (70,391)
Liabilities more than 1 year (12,000) - - (12,000)
Total net assets
6,055,888		 5,342 77,250 6,138,480

22. EMPLOYEE BENEFIT OBLIGATIONS

Methodist ministers are members of the Methodist Minister's Pension Scheme (MMPS). This is a defined benefit scheme.

Lay employees are contractually employees of the Circuit and belong to a multi-employer defined contribution scheme operated by TPT Retirement (formerly The Pensions Trust).

The Connexion accounts for both pension schemes and shows the figures in the annual accounts of the Methodist Church of Great Britain.

The cost of both schemes attributable to the Circuit for the year ended 31 August 2025 was £47,684 (2024 - £51,578). At the year end, £3,619 (2024 - £3,619) was prepaid in respect of the MMPS and £73 (2024 - £nil) was payable in respect of the TPT scheme.

23. RELATED PARTY DISCLOSURES

The Circuit employs lay staff involved in both administration and mission work, some of whom are trustees by virtue of their position.

During the year, two employees were trustees, and a third employee was a close family member of a trustee. They received total remuneration of £38,223, split as follows £15,995 - H Bevan, £11,735 - JD Winstanley, £10,493 - C Edge (2024 - £19,802) and other expenses of £5,217. Preachers fees of G Hayes - £330, D Musgrave £570 and J Carne - £420 were paid (2024 - £132).

During the year, expenses totalling £6,538 were reimbursed to trustees (2024 - £16,298). These reimbursements related solely to costs incurred by trustees while carrying out their duties on behalf of the charity.

None of the Circuit trustees made donations direct to the Circuit during the year or the preceding year. All of the Circuit trustees are members of one or another church within the Circuit and may be trustees in their churches.

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NORTH EAST SOMERSET & BATH METHODIST CIRCUIT

Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 AUGUST 2025

23. RELATED PARTY DISCLOSURES - continued

Connected organisations include the Methodist Connexion, Churches within the Circuit, other Methodist Districts in Great Britain, CFB and TMCP. All of these entities have their own trustees or directors and autonomous administration such that the Circuit has no significant influence over any of them, nor they over the Circuit. They are, therefore, not considered related parties.

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