Charity reglstrotion numbor: 1129521 THE M￿HODIST CHURCH STANDARD FORM OF ACCOUNTS ACCRUALS BASIS for the Year Ended 31 August 2024 Plymouth Methodist Mlsslon Circult MSnister Rev. Garelh Higgs {Resigned- 31 August 20241 Distrlct Chair Rev. Dan Haylett IAppointed- 1 September 20241 Lay Pastor Jonny Libby Circuit Stewards Nigel Morris Julie Morris Paul Courtney John Stephens Qill Flolle (Resigned - 31 August 2024} -t •0241 IRe3igned 31 Augu- Clrcult Treasurer Mrs Vivienne Jordan Plymoulh Melllodlsl Misslon CirGUit Contents Page Trustees, Fleport lincluding reference and administrative details) Slat8ment of financial a¢liviti8s Balance Sheet Sialemenl of cash flows Notes to the financial statements 9-17 Declaration 18 Independent examinerfs report The followlng pages do nol form part ol the financial statements Detwled statewnent ol financial actimties 20-21 Plymouth Methodlat Mission Circuit Trustees. Report The Trustees have the pleasure in presenting their report and the financial slalernents of the chartty lor the year ended 31 Auoust 2024. Reference and administrative informatSon Legal status The off icial name ol the charity is Plymouth Melhodisl Mission Circulc (registered charity number'.11295211. The Circuit is ultimately responsible lo the Methodist Church. The registered address of the Methodist Church is.. The Methodist Church Central Buildings Oldham Stre81 Manchester M11JQ lis governance is determined, like all Methodist circuits, by the Methodist Church Act, and it's Procedures are those required by the standing orders ol the Melhodisl Church as they appear in 'Conslilution. Practice and Discipline ol the Methodist Church ICPDI. The Trustees The Custodian Trustees are th8 Melhodisl Church. The managing Trustees are the members appointed lo the Circuit meeting as represenlalives ol each local ChLJrch along with the Officers elected al the Circuit meeting. Those elected officers who served the Charity during the period are as follows: Rev. G Higgs A J Stephens V Jordan G Rolle N .1 Morris B Griffilhs M Coutts P Courtn8y A ￿ttIer J Morris H MitGhell C Smith J M Stephen5 L Stewvart IReslgned 3118120241 l Hodgins D BakeT A Moirls I reasurer (Resigned 311812024} E Warren M Beswelherick K Besweiherick l Oixih H Rnbins E Couch C Sado P Horn C Hodgins Z Haydon (Resigned 3118120241 IResigned 3118120241 (Resigned 3118120241 (Resigned 311812024} IFlesigned 3118120241 Prlnclpal offlce Plymouth Melhodisl Central Hall Eastlak8 Street Plymouth PL1 1BA Basis ol preparation and legal framework The Plymouth Methodist Mission Circuit is a charity and 2$ such is subject lo the Charities Act 2011 and lis accounls have been prepared in accordance with ihe Charities Act 2011 and the Charvcies.. Statement of Recommended Practice as applicable lo charities Preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 102118lle¢live 1 January 20191. Plymouth Methodlat Mi3$lon Cir¢ull Trustees. Report Public Benefit The Trustees confirm that they have complied Imth the duty in Section 17151 ol the 2011 Charities Act to have due reoard to guidance published by the Charity Comrnission relating lo public benefit. Advisors Other relevant organisations acting on behalf of the charity are as follows.. Bankers.. Lloyds TSB Bank PIC 8 Royal Parade Plymouth PL1 1HB Solicitors Anthony Collins 76 King Street Manchester M2 4NH Accounlanls Prydis Accounts Limited The Parade Liskeard Cornwall PL14 6AF All investments on behalf ol the circuit are handled by the Trustees for Methodist Church PUTPOSèS, Central Buildings, Oldham Sireel, Manchester who act within the powers given to them by the CPD. Aims and organisatlon Objectives and aetlvities Tho CircLlit g.yi%t.4 tn further the Christian relioion and in particular the purposes of the Melhodisl Church. The Circuit also acts as an administrator lo collect funds from the churches and meet the linanciaS obligations relating io th8 ministers engaged within it. Plymouth Methodist Mission C1￿Ul1 consisted of Plymouth Methodist C¢ntral Hall, the Oagis Cèntra in Stonohouse and Kp.yhAm Mgthodist Comrnunily Cenlre. The Church Council al Plymouth Methodist Central Hall are the Managing Trustees for that propety and the Circuit Meeting are the Managing Trustees lor the Crown Centre in Stonehouse and Keyham. The Circuit are also respoiibibl¥ lui Iwo Ina115e&, both of whiGh are availabl¢ to mini- serving In tho Circuit. During the year one was occupied by a Minister and the other was rented out. The Circuit Meeting are the Managing Trustees lor these Iwo properties. The manses are inspected annually and are well maintained and comfortable lor the residents. As required by the Standing Orders ol the Meih(Klist Church, a Quinqijennial Inspection lakes place lor all properties. The Circuit is staffed by a Superintendent Minister and those who operate the Foodbank Hub. Struclure, governance and manag8ment. The management ol the charity and the governance ot ils assets is devolved ITOM the Central Methodist Church lo the Managing Trustees ol the Charity. The Governing Body ol The Circuit is the Plymouth Methodist Circuit Meeting. Circuit Meetings are held bi-annually every March and September and presided over by the Circuit Superinlendenl, the Rev. Garelh Higgs, who Chairs the Circuit Meeting. The members of The Circuit Meeting, who act as Managing Trustees for Circuii propety, are appointed according to the procedures outlined in the CPD. No other body is entitled to appoint Trustees. Plyinoulh Methodist Mission eir¢ult Truslees. Report Risk management Under the terms of the risk management policy adopted by the charity. the strategic, operational and financial risks lo which the charity is exposed are evaluated on a continuing basis and appfopriat& systems put into place to miligatg any major risks identified. The Trustees are satisfied that the policy ol continual monitoring ol potential risks to which the charlty is exKKised is sufficient lo identify those risks on a timely basis and lo ensure that the appropriate action may be taken so as to minirnise the perceived risk to an acceptable level. Achievements and performance Review of the actlvltles ol the charlty The past year has been Incredibly busy as we have grown and develo@ the varying ministries at Plymouth Methodist Central Hall, whilst also responding to the significant increase in demand seen for our support at Plymouth Foodbank. Plymouth Methodlsi Central Hall continues to play ils part as a vibrant mission cenlTe in the rity. Our Sunday congregations conlinue lo grow in number and diversity as we extend a warrn welcome lo all. Extending beyond Sunday worship, we continue to see growth, including - Two busy cafe's IDiscovery Café and Plymouth Soft Play Calél open throughout the we&k with signifiGanl lootFall from all ages Prayer Chapel open each working day as a place for private reflection and prayer, as well as before both Sunday worship services. A broad range of Artivitiès lor young families who are currently outside or on the fringe ol church Developing new approaches to work with children and young Kwple through weekly outreach groups Bible Study meet(ngs for adutts on Tuesday aftemoons and lor teenagers on Monday evenings. ReyulèLI soGial events for the GhurGh lamily and Iricnd= al and boyond tho church promis&g. Online worship. Discipleship groups, courses about the Christian lailh and prayer group meetings We continue to be blessed by committed and generous giwng and donations as well as strong commercial income lo sustain and grow all w& seek to do, and we have been delighted lo welcome many new members into our church family. The Plymouth Foodbank (formerly the Oasis Project) continues lo serve against a backdrop ol unprecedented demand across the city. as the impact ol the ctsst of living crisls deepens lurthar on those struggling linanoially. The staff team arg SUPPOrted by a wonderful team ol volunteers from within the church and the wder Community, and aTe all united in the mission lo support families and individuals lo be lifted out ol poverty. Plymouth Methodist Ml¥sion Clr¢uit Trustees. Report Whilst our work at Keyham Community Centre has ceased, we are delighted that the prernises continues lo be used hy 2nnlhér church conoregation lo enable their worship and outreach to grow. The trustees are continuing lo assess the long leTm use of this Circuit building. Al the end of August 2024, Rev Gareth Higgs resigned from his role as Superintendent Minister of the Circuit, in order lo take up a teaching role al Moorlands College. He has been a great blessing lo the Circuit and we wsh Garelh, Laura and their family all the best as they continue lo serve God in this next stage ol their ministry. The Chair of the South West Peninsula District, Rev Dan Haylett, is currently acting as Superintendent Minister lo the Plymouth Methodist Mission Circuit during this period ol interregnum. Financial Review The circuit shows a deficit of £79,91012023= £52,775 surplus) lor the year. This is almost entirely due to Foodbank costs being in excess ol donations re￿iVed in the year. The balance sheet has also been wgakened this year with less cash hekl at bank however th8 reserves held are still in line with the slated Reserves policy. Going concem Based on the monetary assets and human resource available at 31 August 2024, the Trustees believe that the church is a going concern. Investment policy In accordance with the charitys governing document the Trustees have the power to invest funds in any investments that they see lit. The policy is to adopt a low risk strategy whilst maximising returns. The Trustees are satisfied with the performance ol the investments held and that the policy adopted remains adequate and appropriate. Reserves Policy Incom& ig variabl• and thp.fP.fnrft rpserves are required lo fund any short term funding deficits or any unexpected work required lo the fixed assets. It is the polbcy of thc Tru- to maintain unrostricted lunds. which gyp. frop. rg8érves, at a sufficient level lo secure the continued provision ol normal charitable activities lor a period ol approximately six months. plans for future perlod5 The TrLJslees do not expect any changes lo the charity's objectives and charrftable activfties in the forth coming year, their aim will be to continue lo provide an essential and valued service in the community- The annual report was approved by the Trustees of the Charity on .¥/../u LS and signed on its bghalf by.. an Haylett Trusttre Mrs Vivienne Jordan TrLSStee Plymoulh Methodlst Misslon Cir¢uit Trustees, Report Statement of Trustees. Responsibllltles The Trustees are responsible lor preparing the Trustees. Annual Report and the financial slalernents in 2r.rordance with the United Kinqdom Accounting Standards (United Kingdow Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable to charities requir8S the Trustees to prepare financial slalernenls lor each financial year which give a true and fair view ol the state ol affairs ol the charity and ol the incoming resources and application ol resources ol the charity for that period. In preparir¥J these financial stalemenls,the Trustees are required to- select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP-, make judgements and estimates that are reasonable and pruderrt., state whether applicable accounting slandards have been followed, subject to any malgrial éepartures disclosed and explained in the financial slatemenls.. and prepare th8 financial statements on the going concern basis unless it is inappropriate to presume that the chaiily will conllnue in business. The Trustees are responsible lor keeping proper accounting records that disclose wth reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statements comply with Iho Charities Act 2011, the applicable Char((ies (Accounts and Reports) Regulations, and th8 provisions of the constitution. The Trustees are also responsible lor safeguarding the assets of the charity and hen¢9 lor taking reasonable steps for the prevention and detection ol fraud and other irregularities. Approved by the Trustees ol the Charity on zd.4.zpiC and signed on ils behalf by: Rev. Dan Haylett Trustee Mrs Vivienne Jordan Trustee Plymoulh Melhodist Mlssion Circuit ststement of Flnancial Actlvities (SOFA) for the Year Ended 31 August 2024 Unrestrici•d Restrlcted fund$ lunds Unrostricled funds Re51ricted lunds Note Total 2024 Total 2023 Ineome and Endowments Donations, grants and legacies Assessment5 on Churches Other charilable income Income frorn monetary investrnents Other 465,478 465,478 69,1100 18,375 11,636 329 449,833 449,833 75,400 18,593 4,782 12.004 69,000 17,445 7,093 329 75.400 17.513 4,139 12,004 930 1,080 643 Total 93.867 470,951 564.818 109,056 451,556 560.612 Expendityre on charftable oetlvltles Grants and donations Salaries and associat8d costs Property maintenance- manses Property maintenance- other District Assessment & Levy Depreciaiion Office & Other expenses Incl costs ol distributed food Telephone & travel Insurance, utilities otc. 7.075 42,973 7,075 131.207 12.236 40,036 827 12,236 121,248 827 16,708 27,087 5,401 88,234 81,212 24,339 24,339 22,036 4.268 16,708 22,036 505 27,087 673 12 3,763 4,728 8.940 2,022 10.052 430,040 4,357 393 438,980 6,379 10,445 7,360 2.081 8,144 301,072 4,818 856 308.432 6,899 9,000 Total 93.603 551,126 644,728 98,444 409,394 507.838 t Incomellexpendilurel tor year 265 (80,175) (79,910} 10,612 42,163 52,775 Transfers between funds 19 9,527 19,5271 Ngt movemgnt In ftjnds Reconclllation of funds.. Total funds brought lotward Total funds carrled forward 9.792 189,702) 179,9101 10,612 42,163 52,775 156 355 1.052.592 1,208,947 166,147 962.890 1,129,037 145,743 1,010,429 1,156,172 156,355 1,052,592 1,208,947 All ol the Charitws activitie5 derive from continuing operats.ons during the above two periods. Plymvuih Melhodlst Misslon Circuit Balance Sheel as at 31 Augusi 2024 Unreslrlcted funds Re$tricted Funds Totals Ihis year Totals last year Notes fo Fixèd Assets Tangible fixed assets Toial flxed assets 12 612,303 612.303 613816 613.816 618,085 618,085 1,513 Current Assets Stock Debtors Gentral Finan¢9 Board D8p051t$ Cash at Bank and in hand Total current as8•ts 13 14 15 15,702 5,036 15,702 18,807 47,974 502,136 584,619 13,612 11,351 43,530 607,850 676,343 13.771 47,974 106,479 168,224 395,657 416.395 Current liabilltles Creditors (due in under 1 year) Total curT8nt liabilltlès 16 3.590 13,5901 65,808 165,8081 69,398 169,3981 85,482 185,4821 Net current assetslllabllitles 164,634 350,587 515,221 590.861 Npt assets 166 147 962 890 1 129 037 1 208 946 Funds of the Clrcuit General Fund (Unrestricted) Total Unrestrlcted Funds 17 166,147 16é.147 166,147 166,147 156,355 156,35S Restricted Funds 18 962,890 962,890 1,052,591 Totsl Funds 166147 962 890 1129037 1208 946 The financial statèments were approved by the Board and authorisèd lor issue on and signed on its b8half by.. zoz) an Haylett Trustee Mrs Vivienne Jordan Trustee Plyinouth Methodist Mission Cirouit Statement of cash flows for the year ende(131 Augus12024 Totals this year Totals last year Cash from operaling activities Nel cash used in operating a¢tivilies -101,906 -101.906 49,665 49,665 Cash flows from investing activities Dividends,interest and rents from investments Proceeds from the sale of property,plant and equipment Purchase ol property,plant and equipment Nel cash provided by investing activities 11,636 4.782 11,636 4.782 Cash Ilows from financlng actlvltles Loan lo PMCH Repayments ol borrowing Nel cash used in financing actmties 111,0001 (11,000) Change in cash and cash 8quivalenls in the reporting period Cash and cash equivalents al the beginning ol the reporting pèriod Cash and cash equivalents at the end of the reporting period -101,270 651,380 550,110 54,447 596,933 651,380 Reconclllation of net income to net cash flow from operatlng actlvltles Ner income for ihe rvpurliiiy peiiod las per Statement of linan¢ial activitieel Adjustments for: Depreciation and amortisation charges Profit on th& sale ol tixed assets Loss on the sale ol fixed assets Gains on inv8slmenls Dividends, interest and rents from investments Decreasellincreasel in stocks lincreaselldecrease in debtors increaselld8creasel in creditors -79,910 52.774 4,268 5,408 111,t>361 12.0901 3,544 115,4451 14,7821 11,3111 {1,0781 11,3461 Net cash us8d in operating activities -101,270 49,665 Analysls of cash and cash equivalent Central Finance Board Deposits Cash at Bank and in hand Total cash and cash equivalents 47,974 502,136 550,110 43,530 607,850 651,380 Reconciliation of net debt 1st Sept 2023 Cash-flow 651,380 -101,270 31st Aug 2024 550,130 Cash and cash equivalerrts Debt under 1 year Debt over 1 year 651,380 1101,2701 550.110 Plymoulh Melhodisi MIs5ion Clrcuit Notes to the Flnanclal Statements for the Year Enued J1 Augusi 2024 1 Aeeoiintlng framework and accountino policies Accounting framework The financial slalements have been prepared in accordance with Accounting and Reporting by ChaTilies: Statement ol Recomm8nded Practice applicablè to chartties preparing their a￿ountS Charities SORP lelleclive 1 January 20191, the Financial Reporting Standard applicable in th UK and Republic of Ireland IFRS1021 a￿1 the Charities Act 2011. Fund$ The funds held constitute- General Funds held lor any purpose of the Circuit which are Unrestricted. Restricted Funds which are held for a narrower purpose. Details of each material fund are disclosed in Note 18 lo thes& accounts. Any funds may be represented by more than just cash. Basis of preparation The Plymouth Melhodisl Mission Circurt meets the definition ol a public bènefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting Fx>licy notes. Judgements and key Sources of estimalion uncertalnty In the application ol the Trust's accounting wlicies, which are described in this note. the Trustees are required lo make judgements, estimate5 and assumptions about the caTrying value ol assèts and liabilili8S that are not readily apparent from other sources. The estimates and underlwng assurnplions are based on historically known factors and experience. Therefore, the Trustees do not perceive there lo be any critical areas ol judgement or key sources ol estimation uncertainty in the formulation of the tinancia1 siaiemenis. Going concern Based the monetary assets and human resource avai5able at 31 August 2024, the Trustees believe that the church is a going concern. Income Te¢ognltion Income is included in the Statement ol Financial Activities ISOFAI when the Church becomes entitled lo Ihe income, il is more likely Ihat tne income w1110e recelved and Ili¥ Iiiuiietaiy v&ue Gan b¢ measuied with sufficicnt r¢liability. Donated goods, facilities and services are recognised as income when the charity has control over them. any conditions associated wlh the donated item have been mel, and the receipt ol economic benefit can be measured reliably. On receipt. donated goods, facilities and setvices are recognised on the basis ol the value of the gift lo the Charity- This is the amount the charity would have been willing lo pay to obtain the goods, services or facilities of equivalent economic benefit on the opgn market., a ¢orr8sponding amount is then rècognised in expenditure in the period of receipt. In accordance with the Charities SORP IFFIS 1021. the time ol volunteers Is not recognised. Plymoulh Melhodist Mlssion Clrcuit Notes to the Flnancial Statements for the Yoar Ended 31 August 2024 Expgnditiir This 15 recI￿nised when a liability is incurred, or a ¢on5truclive obligation arises. that results in the paymeni being unavoidable. Liabilities are recognised as soon as an outflow ol economic benefit is considered more likely than not under the legal or constructive obligatson committing the Circuit lo pay out reSoUr￿s. Grants Grants made by the Circult IroTn ils own funds are recognised in lull at the tim8 ol agreement or whgn the Circuit accepts that there is a legal or operational obligation lo make the payment. VAT Since the church is not VAT registered. all input VAT is charged with the expenses lo which is refers. Tanglble fixed assets These are capilalised il they can be used for more than one year, and individually cost al least £500. They are initially re¢oTded at cost, less any subsequent accumulated deprciation and impairment logsès. Depreciation is provided on tangible fixed assets so as to write off the cost over their expected useful economic life as below.. Asset class Fixlures and fittings I propety improvements Dgpreciation method and rate 25Q/o reducing balance 120 years slraighl line The treehold properties are shown in the accounts al the 2015 deemed cost value. No depreciation is provided on buildings because the Trustees consider the current residual lair value ol the manse land and buildings lon the assumption that it had leached the end ol its useful economic life by y8ar-endl to b8 not less than their deemed cost. The properties are reviewed annually lor impairment. sto¢k The cost ol any stock of goods donated for distribution lo beneficiaries is deemed to be the fair value ol those gifts at the lime of their receipt. 11 the goods held are lo be distributed freely or lor a nominal consideration. then the carrying amount is the lower ol deemed cosl adjusted for any loss ol service potential and replacement Cost. Taxation The Trust is considered lo pass the tests sel out in Paragraph 1 Schedule 6 01 the Financ8 Act 2010 and therefore il meets the definition ol a charitable company for UK corporation tax purposes. Accordingly, the Trust is polenlialty exempt from taxation in respect ot Income or capiial ga1n5 r¥beived yvitliiii categori¢s covered by Chapter 3 P#rt X 1 ol the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeabl8 Gains Act 1992, to the èxtent that such income or gains are applied exclusively to charitable purposes. Financlal instruments Classlflcatlon The company holds the following financial inslrumenls: Short term trade and other debtors and creditors., and Cash and bank balances. All financi￿ instruments are classified as basic. The charity has chosen lo apply the recognition and rneasuremenl principles in FRS102. Financial inslruments are recognised when the charity becomes party lo the contractual provisions ol the instrument and derectsgnised when in the case of assets, the contractual rights lo cash flows from the assets expire or subslanlially all th& risks and rewards of ownership are transferred to another party, or in the cas& ol liabilities, when the charity's obligations are discharged, expire or are cancelled. These instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount ol the cash or othèr consideration expe¢led lo be paid or received. after taking account ol impairment adjustments. Ptymouih Methodlsl Mjssion CirGuIt Notes to the Financlal Statements for the Year Ended 31 August 2024 2 Dongtions And 1g.oacies 2024 Restricted Total Funds Funds 2024 2023 Restricted Funds Unrestricled Funds Unreslrieted Funds Totsl Funds 2023 Donations (including notional value of loodl Grants Received 379,969 379.969 369,978 369,978 85,509 465,478 85,509 465.478 79,855 449,833 79,855 449,833 3 Charltable actlvilies Assessments on Churches The Circuit is made up of the following- PlY￿outh Methodist Central hall The level of assessments is calculated on an annual basis, and represents unreslricled income. Deferred Circuit assessmÈnts are included with other creditors and relate lo the lirsl instalments ol the 202412025 annual assessment. These amounts are deferred in order to include the income in the COTrecl persod, as disclosed in note 16. Other Charitable income 2024 Restrlcted Total Funds Funds ZlJ24 2023 Unrestri¢tèd Funds Unre$trlcted Fund Reslrict•d Fund$ Total Funds 2025 Activities lor g8nerating funds Fundraising avents Renral IncoThie 329 930 1,259 12.004 1.080 13,084 17,445 17,774 17,445 18,704 17.513 30,597 930 29,517 1,080 4 Investment Income 2024 Restriet•d Total Funds FLEnds 2024 2023 Rèstrlcted Funds Unrestricttd Funds Unrestricted Funds Total Funds 2023 Interest raceNed Central Finance Board Other Banks 1,308 2,389 2.389 1.308 4,704 9,247 11.636 2,831 4,139 643 643 3,474 4.543 5 Other income Other income includes income from special events and other sundry receipts. 6 Trustees, remuneratlon and expenses The Ministers are members of the Circuit meeting and are accordingly Managing Trustees ol the charity. The remuneration dis¢losed in note 7 includes remuneration lo Trustees lolalling £32,13812023.' £29,991). A Trustee was also provid8d with free accomodation in one ol the Chariws manses. 1 Trustee12023= 11 was re-imbursed travel expenses totalling £1,33812023.' £1,163). Plywnoulh Methodist Mlssion Circuit Notes to the Flnanclal Statements for the Year Ended 31 Augusi 2024 7 Salarle* and associated costs Gross saaries paid to employees were as follows.. 2024 2023 Gross pay Employerfs National Insurance contributions Employer's pension contributions lo defined contribution ￿heMeS Total skfl cost$ 110,241 10,084 10,883 131.208 102,024 8,102 11,123 121,249 No employees received employee benefits. There is no accrual for holiday pay as it Is immaterial, the holiday year 8nds on 31 Augusl. All staff are paid al or above the living wage. Key management is the Minister ol the Circuit. Key management received remuneration of £32,138 in 2024. Partlculars of employees: The average number of stall employed by the charity during the year amounted to.. 2024 No. 2023 No. Number of Stafl Penslons The Circuit operates a defined contribution plan lor its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate enlily. Once the contributions have been paid the charity has no further payment obligations. The conTrlbuiions are rEGUylllb¥d cis an expe175e when they ar¢ due. Amounts not paid are included in accruals in the balance sheet. The assets ol the plan are held separately from the Gircuil in independently administered funds. The clergy are employed by Gonnexion. Their stip&nds are recharged lo the circuit, including their pension contributions. The Connexion operat8 bolh defined benefit schemes as detailed below. Most ordained presbyters and deacons are members of the Methodist Ministers, Pension Scheme IMMPSI. This is a defined benefit scheme. The supreme court held in 2014 that Melhodisl Ministers (which term includes presbyters and deacons) are not employees ol the church. For simplicity, howev&r, when dealing wth National Insurance Contributions and pension conlrsbulions the terrNs'Èmployer' and 'employee' are used as they would be in an employing body. On the other hand lay employees are contractually employed and have the optlon ol joining ihe Pension and Assurance Scheme lor Lay Employees of the Methodist Church IPASLEMCI, the Pensions Tnjst or some other arrangement. PASLEMC is a defined benefit scheme and the employing Churches and Gircuits ctsnlribule as employers lo this scheme. The Connexion accounts lor both the MMPS and PASLEhAC pension schemes and shows the figures in the annual Melhodisl Church in Great Britain accounts The MMPS is in deficit bul a plan lor removal of the deficit has been prowsed and is being implemented. Details ol the deficit on the schemes ean be found in the Annual Report of The Methodist Church al www.methodisl.org.uk. Plymoulh Methodlsi Mission Circuit Notes to the Flnanclal Statements for Ihe Year Ended 31 August 2024 A Officè and other expenditure 2024 Reslricted Funds ZV23 Restrieted Funds Unrestrlctgd Funds Total Fund$ 2024 Unyestrlcièd Funds Total Funds 2023 Printing and siatiorery Professional feès Accountancy feas Independent examination fees Staff expenses TMCP Chargés Training Sundry costs Grants for white goods CAB Ih"nancial inclusion grants) Foodbank provisions Total 19.920 19,920 12.544 12,544 1.570 420 1,990 1,570 200 1.770 350 300 650 350 700 1,050 461 266 1.597 333 2.058 599 769 258 1.315 332 2,084 590 6.293 34,614 3,864 43,624 325,368 430 040 40,907 3,864 43,624 325,368 438 980 4,413 24.629 4,386 21,768 235,198 301 072 29,042 4,386 21,768 235,198 308 432 8.940 9 Grants and donatlons 2024 RestriGt¢d Funds 2023 R•strleted Funds Unrestrlcted Funds Total Fund8 2￿23 Unre$trlclgd Fund$ Total Fund$ 2022 Other donatlons Other Total 7,075 7,075 12,236 12,236 12,236 12,236 10 Direct and support costs 2024 Reslrieted Funds 2023 R¥strlcted Funds Unrestrlcted Funds Total Funds 2024 Unrestrictod Funds Tolal Funds 2023 Dir9Ct costs 81,631 53D.093 611,723 88,380 395,094 483,474 Support costs: Printing and stationery Insurance and utilities 19,920 19,920 12,544 12,544 10,052 10,052 393 20,313 10,445 30,365 8,144 8,144 856 13,400 21,544 Governance costs: Accountancy services by Independent examiner Independent examination 1,570 420 1.990 1,570 200 1,770 350 1,920 300 720 50 2.640 350 1.920 700 900 1,050 2,820 Plyrnguih Melliodist Mlssion Cir¢uit Notes to the Flnancial Statements for the Year Ende¢J 31 August 2024 11 Taxxtlon The Trust is considered to pass the tests sel out in Paragraph 1 Schedule 6 01 Ihe Finance Act 2010 and therefore it meeis the definition ol a charitable company lor UK corporation lax purposes. Accordingly, the TrLJSt is potentially exempt from taxation in respect ol income or capital gains received within categories covered by Chapter 3 Part 11 of the CDrptsralion Tax Act 2010 or Section 256 01 the Taxation ol Chargeable Gains Act 1992, to the exlenl that such income or gains are applied exclusively lo charitable purposes. 12 Manse and other tsngible fixed assets A Circuit manse, in Plymouth. was revalued at £220,000 on 31 August 2008 by AdTian Male Associates. This valuation was treated as the deemed cost upon Iransition to FRS102. There is no depreciation on the manse and other land and buildings as the impairment review at the end ol the year confirmed that the residual market value of the building was greater than the carrying value ol that part ol the assets cost to dale. Manses Other land and buildings Other flxed ass￿$ Total Cost or deemed cost As at Sep 2023 Additions this year Less- Disposals in the year Al 31 August 2024 284,408 300,000 111,140 695,548 284.408 300,000 111,140 695,548 Depreciatlon As at Sep 2023 Charge for year Eliminated on disposal Al 31 August 2024 77,484 4,268 77,464 4,268 81,732 81,732 Net book value Al 31 AugLssI 2024 284,408 300,000 29,408 613.816 At 31 August 2023 284,408 300,000 39.085 623,493 13 SIOCK The impairment of stocks recognised as an expense in the year amounted lo £Nil12023 - £Nil}. 14 Debtors 2024 2023 Other debtors Prepayments A￿rutrd income Total 17.072 1.735 5,985 5,366 18,807 11.351 15 Centr81 Finance Board ICFB) and Cash at Bank The Circuit has a number ol current and deposit accounts wth high street banks, aulhorised inslitulion. The sums held are ifflmedialely available. Interest is earned on these accounts ', the sums deposfced can be withdrawn without notice and without loss ol interest. These sums are viey¥ed as being IKlUid. Plymouth Methodl8t Mission Circuit Note$ to the Financlal Statements lor the Year Endeij 31 August 2024 16 Creditors and accrued expenses 2024 2023 Credltors Deferred circuit assessments Donations duè lo external organisations Amount due to Plymouth Methodist Central Hall Accruass Other creditors Total 1,780 250 84.608 2.760 17,500 250 64,608 2.760 360 85,478 69.398 11 1$ expected that all accruals and oth8r creditors as al 31 August 2024 will be pald during the year lo 31 August 2025. Deferred income relates to assessments which are paid in advance. 2024 2023 Deferred income brought lOn￿ard Assessment income received in the year Delerr8d income carried forward Assessment income recognised in the year 17,500 53,280 1,780 69,000 18.850 74,050 17,500 75,400 17 Unreslrlcted Funds General Fund The purpose of the fund is lor use al the discretion ol the Trustees in the furtherance ol the general objectives of the church and whicn have noi been deslgnaied foi other PUlVUbVb. 18 Restricted funds Restricted funds are those received and held lo cover specific expenditure, the majority being lo provide manse properties lor the Circuit Ministers which are held within Fixed Assets. The restricted funds are as follows.. Property Funds held by the Trustees lor Melhodisl Church purposes on behalf ol PMCH Trustees, acquired primarily from the sale of property an(J for us¥ lui piuyvily dcvelopiiient. Plymoulh Foodbank Part ol a nab"onwid8 network lor those in need ol food, ￿ause ol delays in beneflls or other hardships. Circuit Model Trust Fund Funds held by the Trustees lor Methodisi Church purposes on behalf ol PMCH Trustees, for use in the development ol mission and ministy objecliv8S. Details of the movements on the funds are shown in Note 19 hereafter. Plyrnoulh Melhodl$t Mlsslon CirGuIt Noles to the Flnanclal Statements lor the Year Ended 31 August 2024 19 Summary of movements on slgnlficant Individual funds Fund Balance at 31-Aug-23 Balanee at 31-Aug-24 Income Expendlture Transters Property Plymouth Foodbank Circuit hAodel Trust Fund Amounts due lo PMCH 584,408 520,841 11,950 164,6081 584,408 440,611 2,479 164,6081 470,563 388 1550,7941 13321 19.5271 Total restricted 1.052,591 470,951 1551.1261 19,5271 962,890 General Fund Designated - Plymouth Foodbank 76,511 79,844 93,867 193,6031 9,527 86.303 79,844 Total Funds 1,208.946 564,818 (644,7281 1.129,037 Transfers between funds Transfers represent recharges for rent and seNices provid￿ between the separate departments of the Mission Circuit. Fund Balance at 31-Aug-22 Balance at 31-Aug-23 InGT)me ExpeJiditur¢ Transfera Prop8rty Plymouth Foodbank Circuit Model Trust FurKI Amounts due to PMCH 584,408 478,713 11.916 164.6081 584,408 520,841 11,951 164.6081 451,189 367 1409,0621 13321 Total restricted 1,010,429 451,556 409,394 1,052,591 General Fund Designated - Plymouth Foodbank 65,899 79,844 109,056 98,444 76,511 79,844 Total Funds 1.156.172 560,612 {507.8381 1.208,946 20 Net assets by fund 2024 Unrèstrlcted Restricted Fund Fund 2023 Unregtricted Restricted Fund Fund Totsl funds Total funds Tangible assets Current assets Creditors.. < 1 year Net assets 1,513 168,224 3,590 166.147 612,303 416,395 165.8081 962,890 613,816 584,619 69,3981 1 129.037 2,018 174,011 19,6741 156.355 616,067 502,332 65,808 1,052,591 618,085 676,343 85,482 1.208.946 Plywnguih Methodist Mlsslon Cir¢ult Notes to the Finan¢lal Stat9ments for the Year Ende<1 Ji August 2024 21 Volunteer contrlbutlons Every entity Iconnexion, District, Circuit, Churchl within the Methodist Church in Great Britain is heavily reliant on volunteers who contribute their skill, time and money in the furtherance of the work ¢)f the church. We are grateful lo all ol them lor their help and commiimenl. 22 Relaied party transactions Plymouth Methodist Central Hall {a charity under common control) During the year the Charity received circuit assesments lotalling £69,00012023.' £75.4001. At the year end the Mission circuit owed the Central Hall £64,60812023.' £64.6081- This debt is interest frte and repayable on demand. There have been no other related party transactions In the reporting period that require disclosure. 23 Control The Charity was tjnder the control ol the Trustges throughout the financial year. Plymoulh Method1￿ Misslon Clrcull Declaration8 and Scrutlny I confirm that these accTua15-bi*b¥U acGounts for the year to S1 August ry004 havtt b&on prgp*od from thè records of the Circutk and that they include all funds under the control ol the Circuil. Signature of ireasur8r Date Name ol treasurer Address of treasurer nÉ¢- fcyiiÉ)U-r Presenlatlon to the Clrcult Meeting I confirm that the annual report and accounts lor the year ended 31 August 2024 were, or will be,. presented to the Circuit Meeting al ils meeting on Signature ol the Chair ol the meeting Name ol the Chair of Ihe meeting Dale Z(titieo2g- delete or circle as appropriate Independeni Examlner's Repori io Ihe Tiustees of the Plymouth Methodlst Mission Circuit I report lo the charity Trustees on my examination ol the accounts of Plymouth Methooisr Misslon Glrcult Ilhe Trusll for Ihe year ended 31 August 2024. Responslbilities and basis ol report As the charty Trustees of the Trust you are responsibl8 for the preparation ol the accounts in accordance with the requirements of the Charities Act 2011 I'ihe Acl'l- I report in respect ol my examination ol the Trust's accounts carried out under Se¢tion 145 of th8 2011 Act and in carrsing out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl ol the Act. Independent examiner's statement Sincè the Charitys gross income exceeded £250,000 your exarniner musl be a member of a body listed in section 145 01 the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute ol Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection wlth the examination giviThJ me cause to believe that in any material respect- 1. aecounling records were not kepl in respect ol the Trusl as required by section 130 01 the Act- or 2. the accounts do not accord with those records., or 3. the accounts do not cotnply with the appli¢able requirements concerning the lorm and content ol accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'lrue and fair Mew which is not a matter considered as part ol an independent examination. 4. the trustees. annual report is not consistent with the a¢counls. I have no concerns and have come across no other matters in connections with the examination to which attention should bo drawn in thiR rpr)nrt in order to enable a proper underslandina ol the accounts to be reached. Signed.. Dale.. ol Name.. Address.. Gary Randall ACA Prydis Accounts Ltd The Parade Liskeard Cornwall PL14 6AF PLYMOUTH MEfHODIST MISSION CIRCUIT MANAGEMENT INFORMATION YEAR ENDED 31 AUQUSt 2024 The following pages do not form part of the statutory financial statements. PLYMOUTH METHODIST MISSION CIRCUIT DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2024 2024 20ZJ Income Circuit Assessments Grants Donations Notional value ol donated food Inleresl receivable Legacy Other Rental income 69,000 85,509 151,182 228.787 11.636 75,400 79,855 204,704 165,274 4,782 1,259 17,445 13,084 17,513 TOTAL INCOME 564.818 560.612 EXPENDITURE Stipends and associated costs Staff salaries Stafl expenses Dislri¢l Assessmenl Costs of running and maintaining properties 42.973 88,235 2,058 22,036 40,036 81,213 2,084 27,087 5,184 24,339 683 3,513 17,535 667 235, 198 403 5,487 12,544 6,232 2,820 360 Repairs and maintenance Telephone Foodbank costs Minister Expenses Inqiirancè 73 5,261 19,920 5,695 2.640 360 Stationary, postage and photocopying Motor and Iravelling Ac¢ountancy Payments to external OTganisations Other costs Keyham ¢xpense5 Other donations Grant for while goods Fuel Vouchers Professional lees CAB Ilinancial inclusion grant) TMCP Gharges and District Advance Fund Sundries Depreciation 6,220 7,075 3,864 24,000 12,236 4,386 15,750 43,624 599 10,253 4,268 21,768 590 8,740 5,401 TOTAL EXPENDITURE 644.728 507,838 NET SURPLUSIIDEFICIT} {79,910 52.774 PLYPJIOUTH METHODIST MISSION CIRCUIT DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUS1 2(J24 Foodbank Hub Circult Income Circuit Assessments Grants Donations Notional value ol donated food Interest receivable Legacy Other Rental income 69,0 85,509 151,182 228.787 4,155 7,481 329 17,445 930 TOTAL INCOME 94,255 470,563 EXPENDITURE Stipends and associated costs Stall salaries Stall expense District Assessment Costs ol running and maintaining properties 42,973 88,235 1,597 461 22,036 4,791 393 24,339 Repairs and maintenance Telephone Foodbank provisions Minister Expenses InsLJrance Stationary. postage and pholocopying Motor and Iravelling AccoLlntanfty Payments lo external organisations Other costs Kcyham expcn- Other donations Grants tor while goods Futrl Vouchers Professional lees CAB Ilinancial inclusion granll TMCP Charges and District Advance Fund Sundries Depreciation 683 325,361J 73 5,261 19,920 4,357 720 360 1,338 1.92D 6,220 7,075 3,864 24,000 43.624 599 10,253 3.763 505 TOTAL EXPENDITURE 93,935 550,793 NEf SURPLUSI{DEFICITI (79,910) 320 180,230