2024-08-31-accounts

REGISTERED CHARITY NUMBER: 1129523

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

North

Bedfordshire Methodist Circuit

NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

		Page
Report of the Trustees	3	-	11
Report of the Independent Auditors	12	-	13
Statement of Financial Activities	14	-	15
Balance Sheet	16	-	17
Statement of Cash Flows	18	-	18
Notes to the Financial Statements	19	-	30
Detailed Statement of Financial Activities	31	-	32

NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

INTRODUCTION

The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. 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 purposes of the Methodist Church are and shall be deemed to have been since the date of union the advancement of:

• The Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church

• Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church

• Any charitable purpose for the time being of any society or institution or subsidiary or ancillary to the Methodist Church; Any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church.

In setting our objectives and planning our activities the Circuit has given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing our objectives as set out above.

The calling of the Methodist Church is to respond to the Gospel of God's love in Christ and to live out its discipleship in worship and mission. We will use the Circuit's resources to:

• Increase awareness of God's presence and celebrate God's love;

• Help people to grow and learn as Christians through mutual support and care; Be a good neighbour to people in need and challenge injustice;

• Make more followers of Christ.

In all of the above we will seek to work ecumenically wherever possible. We will follow the Holy Spirit who is calling us to:

• LOVE God with all our heart, soul, mind, and strength;

• LOVE one another, as Jesus loved his followers,; LOVE all others, even enemies, as God does and;

• be DISCIPLES OF JESUS, becoming like Christ, behaving like Christ, bringing others to meet and follow Christ working for GOD'S KINGDOM that God's will be done in the Church, and on earth for all, as it is in heaven.

We seek to put our Mission Statement into action in the following ways:

• Resourcing worship in each church, as required, week by week and also by worshipping together as a whole Circuit to celebrate particular special occasions within the Circuit;

• Exercising ministry ecumenically with a number of ministerial colleagues from other denominations with whom we are in partnership to varying degrees;

• Involving Supernumerary (retired) ministers in leading worship and other aspects of Circuit life as far as they wish and as their circumstances permit;

• Continuing partnerships with Methodist charities and other agencies and charities; Supporting chaplaincy within the MHA Care Homes within the Circuit;

• Providing regular communication of useful information and links on relevant issues:

• Providing practical and prayer support to churches to enable them to resource their local mission.

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

ACHIEVEMENT AND PERFORMANCE

Circuit strategic plan

The Rev Michael Giles took on the Superintendency and Rev Silas Wood became deputy superintendent, Rev Chris Sandy

joined from September 2021, Rev Leslie Noon from September 2022 and Rev Paulette Tedd joined from September 2024

making a team of five ministers that the strategy required.

The Circuit Meeting, as Local Managing Trustees, decided that additional Circuit support was deemed with the reduced ministerial staffing. The Circuit Manager Stephanie Field with her additional responsibilities continues to provide important support to the Circuit Ministers and local Circuit Churches.

The strategy group continue to meet to look at stationing and staffing over the next 3 to 5 years, an issue deemed critical in the life of the circuit. The group looked at budgets and plans for either 4 or 5 ministers from 2026 when Rev’s Silas Wood, Lesley Noon and Chris Sandy current appointments finish though subject to possible extension. At the present time, 5 was an affordable and the most workable option.

Suggestions for areas of pastoral charge were shared with the Circuit meeting of February 2024 and feedback and consultation is ongoing. The July Circuit Meeting 2024 was informed that the Rev Michael Giles would be ‘Sitting down’ (Methodist term for retirement) in August 2025. The Circuit Invitation Committee therefore will be creating a stationing profile for a new Minister from September 2025.

Staffing matters

Damilola Obajemu, Finance Officer from 31st October 2023, has now completed her first cycle of the financial year.

Paulette Wood has joined the Circuit as a Probationer Minister on 1[s][t] September 2024, with Rev Lorna Valentine leaving the Circuit in August 2024.

Property matters

During the 2023/24 year, the Circuit made significant strides towards the implementation of its Manse Strategy. The principal aims of the Strategy were to a) improve the quality of the accommodation the Circuit makes available to its Ministers and their families and b) ensure the manses are sensibly located in terms of ministerial responsibilities for the local Churches. Having in previous years sold the manse at Oakley and replaced it with a newly built manse in Biddenham and replaced the original Biggleswade manse with another newly built property in the town, the Circuit began the process of replacing the Shefford manse with a new build property in Saxon Park Biddenham. (That purchase - for £554,500 - completed in December 2023.)

The manses at 12 Hartop Close, Bedford, 4 Coles Close, Bedford and 35 Elstow Road, Kempston remain classified as investment properties. Each has been let and is generating a rental income to support the Circuit's charitable aims. Each property was revalued in September 2024 based on published data for similar detached properties from the Office for National Statistics, Plumplot and Rightmove.

Closure of churches

There have been no closures of Churches in the Circuit in 2023 to 2024 financial year.

Ecumenical Matters

The Circuit has continued to explore and develop local ecumenical partnerships at Cardington, Stewartby and Lidlington.

Worship

The Circuit continued to encourage churches in the diversity of their worship and helped to resource this through the preaching plan.

The Local Preachers and Worship Leaders Meeting continued to meet regularly, exercising oversight over accredited and trainee Local Preachers, plus commissioned and trainee Worship Leaders.

Safeguarding

The Circuit continued the monitoring of DBS requirements (including renewals) and the delivery of Creating Safer Space training for all appropriate people working with children and vulnerable adults.

Other Circuit matters

The Circuit magazine continued to be published quarterly alongside the quarterly Preaching Plan.

Meetings of Church property stewards and treasurers were held to ensure all churches were supported and informed about their current obligations and responsibilities. Eco Church support meetings were held.

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

FINANCIAL REVIEW

Financial position

The Mission Resources Mission Stream (MRMS) continued to meet throughout to consider the resourcing issues of matters such as property, finance and human resources including requests from churches and make recommendations to the Circuit meeting where applicable.

The strategic group noted the effects on budget of the number of ministers with 5 being unsustainable into the future with current resources. Churches have been asked to look at ways in which they can work in partnership or sharing to release the current burdens on resources.

Principal funding sources

General Fund

The principal source of income for the Circuit is the circuit assessment paid by the Churches. The Circuit continues to have a policy of asking each Church to decide how much they can afford to pay given their own funds. Church treasurers meet on at least an annual basis to discuss the issues before making recommendation to their individual church councils. Each church council is asked to agree an amount which is then included in the following year's Circuit budget which is approved by the Circuit meeting. Circuit assessment contributions are due quarterly in advance. Total share offers amounted to £336,380, a significant reduction over pre Covid years. This reflects the current state of finances in individual churches which have been, in most cases, negatively impacted by the restrictions imposed by Covid. This financial situation is unlikely to be reversed in the foreseeable future.

A small group headed by the Circuit Treasurer from September 2023 looked at alternative methods of funding the Circuit budget. They focused on the model used by the South Bedfordshire Methodist Circuit. The new assessment method will be introduced with effect from September 2024 financial year.

The principal revenue expenditure of the Circuit is the payment of Circuit staff which amounted to £261,182.Whilst Ministers are appointed by the Connexion they are paid for by the Circuit according to rates agreed by Methodist Conference.

Circuit Model Trust Fund (CMTF)

The principal source of income for the Circuit Model Trust Fund is the sale of properties and associated investment income from those resulting funds.

Total District Levy was £16,598 which will be used to further mission work within the Connexion. This continues to reduce year on year as funds held dwindles.

Reserves policy

The Circuit Model Trust Fund (CMTF) has arisen as result of the sale of manses and church buildings no longer required within the Circuit. The use of these designated funds is determined by the Constitutional Practices and Discipline of the Methodist Church (CPD).

The general reserves policy is to maintain adequate funds to of six months of the day to day expenditure of the Circuit. This was reviewed during the year.

The General Fund as at 31 August 2024 amounted to £4,524,441 of which £4,364,650 can only be realised on the sale of fixed assets comprising predominantly of five manses and three investment properties, meaning there was £159,791 of funds available to meet the day to day financial requirements of the Circuit. This is equivalent to just less than three months of normal expenditure.

Unrestricted funds also includes £22,838 designated for the manse repair costs where these are over and above expected annual costs.

FUTURE PLANS

The Strategic Working Group (SWG) continues to meet to consider the Strategic Plan and offer advice to the Circuit Leadership Team (CLT), who report to the Circuit Meeting.

Following extensive consultation and increased working together, at the Spring Church Councils, Ampthill, Flitwick and Clophill Methodist Church decided to become 1 church across 3 sites called ‘Greensands Methodist Church’.. The model of working will be carefully considered and explored with a view to others in the circuit learning from the experience and making decisions about changed ways of working and sharing into the future as appropriate for the local church context.

The manse in Shefford was be sold in summer 2024, with the proceeds of that sale funding the Saxon Park Biddenham purchase (which is classified as a 'replacement project', meaning levy will only be payable to the Connexional Priority Fund on any positive ' difference between the sale price and the purchase price. See Property matters' above). That sale, together with the activity described above will mean the Circuit's Manse Strategy will have been implemented fully by autumn 2024.

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

The North Bedfordshire Methodist Circuit was formed on 1 September 2011 from the merger of the previous Bedford South and Ampthill Circuit, the Biggleswade Circuit and the Bedford North Methodist Circuit. The charity number was carried forward from the old Bedford North Circuit. It is part of the Bedfordshire, Essex and Hertfordshire District which in turn is part of the Methodist Connexion in Great Britain whose constitution is governed by an Act of Parliament.

The Circuit is governed by the Deed of Union (1932) and the Methodist Church Act 1976 as amended March 2011. Overall control of the Circuit rests with the Methodist Conference. The Connexional Office implements decisions made by Conference and is also responsible for the stationing of ministers in individual Circuits. Connexional decisions are passed to the Chair of the District and the appropriate Officers of the District for regional implementation. The District passes the control down to Circuit level for local implementation by the Superintendent Ministers, ministerial staff and Circuit Stewards via the medium of the Circuit Meeting.

The membership of the Circuit Meeting is laid down in CPD.

Charity constitution

In simple terms the Circuit Meeting is made up of: Circuit Ministers; Circuit Stewards and other office holders undertaking Circuit roles; Circuit lay workers; representatives from the churches within the Circuit (being the church Treasurer, church steward plus one other elected member per 100 members of the church); other Methodist Ministers (including Supernumeraries) residing within the Circuit wishing to take up appointment and Authorised Ministers working with Methodist churches within the Circuit who wish to take up appointment. The voting members of the Circuit meeting are the Managing Trustees of the Circuit.

Certain matters, principally those relating to property issues, must be referred to the District and the Connexional office - through the Trustees for Methodist Church Purposes (TMCP), acting as Custodian Trustees, but most matters are determined by the Circuit meeting itself.

Recruitment and appointment of new trustees

Whilst the appointment of the managing trustees is determined in accordance with the Standing Orders of the Methodist Church we aim to ensure members of the Circuit Leadership Mission Stream and the Circuit Stewards include a broad range of experience and expertise including pastoral, financial and property matters.

Funds are allocated within the Circuit and also accessed via the District to provide training for ordained and lay members of staff. The District offers training for all new Circuit Stewards.

All members of the Circuit meeting are encouraged to read the leaflet" The Role of a Trustee in the Methodist Church".

Organisational structure

The Circuit Stewards together with the Superintendent Minister, other Ministers and Probationers are responsible for ensuring the decisions of the Circuit meetings are upheld and acted upon.

Both the Circuit Stewards and the Circuit Leadership Team meet on a regular basis to review the work within and/or policies of the Circuit and to make recommendations to the Circuit Meeting. They also have an overview of the Circuit Mission Streams who coordinate the varied aspects of the Circuit's work and are as follows:

The Strategic Working Group meets as directed by the leadership team to review the strategic plan and make recommendations on how to implement it. It is made up on minister and steward representations.

The manse committee meets twice a year. This meeting is responsible for implementing the agreed maintenance programme for the manses and consists of the circuit property and finance stewards and manse stewards and secretaries.

A Mission Resources Mission Stream meets quarterly and is responsible for the overview and management of all resources including property, finance and personnel.

The management of the Circuit is supported by paid, part-time lay workers who are the Circuit Manager and Finance Officer.

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT (CONTINUED)

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.

In accordance with the Charities (Accounts and Reports) Regulations 2008, the Circuit, through the Circuit Leadership Team (CLT), has carried out a review of our policies. The Circuit has:

• identified the need to produce a written Health & Safety Policy;

• reviewed its insurance cover and sums insured to ensure they are appropriate for the current environment;

• reviewed and updated (where necessary) the Circuit Safeguarding policy.

The Trustees for Methodist Purposes (TMCP)

The Trustees for Methodist Church Purposes hold the Circuit's Model Trust Funds. From these funds they deduct a levy, proportional to the funds held, which goes towards the running of the Methodist Church nationally. They act as Custodian Trustees holding the title to the eight properties (Manses) in which the Ministers live. The Circuit Meeting, acting as Local Managing Trustees, is responsible for the day to day management of the properties and has the right and obligations of exercising power or discretion over them.

The individual church buildings are the responsibility of their Church Councils.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

1129523

Principal address

c/o Willington Methodist Church Station Road Willington Bedford MK44 3QH

Auditors

HW Bedford Ltd First Floor, Woburn Court 2 Railton Road Bedford MK42 7PN

Surveyors

Cube Building Consultancy Franklin House 2 Steppingley Road Flitwick Bedford MK45 1AJ

Roger Trudgill BSc (Hons), MRICS Jackson Stops Woburn 1 Market Place Woburn Bedfordshire MK17 9PZ

Bankers

National Westminster Bank Pie 81 High Street Bedford MK40 1YN Central Finance Board 9 Bonhill Street London EC2A 4PE Trustees for Methodist Church Purposes Central Buildings Oldham Street ManchesterM11JQ

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

Trustees

The Circuit Meeting comprises the following trustees and non-voting members.

Circuit Ministers

Rev Michael Giles - Superintendent Minister and chair of Circuit meetings Rev Silas Wood (Deputy Superintendent) Rev Chris Sandy Rev Leslie Noon Rev Paulette Tedd (from 01/09/2024) Rev Lorna Valentine (to 31/08/2024) Circuit Stewards

Michael Carr Nicholas Guy Jane McVey Philip Timms Christina Sawkins Circuit Finance Steward Michael Carr Circuit Property Steward Richard Ward (non voting member) Circuit Safeguarding Officer Stephanie Field Circuit Meeting Secretary Anne Cooper Local Preacher Meeting Secretary Janet Watts Supernumerary Ministers Rev Cass Howes Rev Julie Bradshaw

Methodist Ministers resident in Circuit District Synod Representatives (DSR) Maryan Pateman to 14/02/2024 Stephanie Field (from September 2024) Jenny Snelson Roz Addington Margaret Byass

Church Representatives Beeston: Sonia Butler Jennifer Sutcliffe Cynthia Dent (to 31/10/2023) Mary Millar (from 01/11/2023) Clapham: Rosemary Isaacs Helen Gadsden Carolyn Maynard

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REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

NORTH BEDFORDSHIRE METHODIST CIRCUIT

Trustees (continued)

Greensand Community Methodist Church (Amptill/Clophill/Flitwick) from 01/09/23: Patsy Aston Margaret Byass Haynes: Mervyn Barden Glennis Barden Margaret Braybrook (to 31/08/2024) Hen/ow: Susan Watson Brenda Ballantine Howard Memorial Church (Cardington): Ruth Caves Ken Oliver Kempston East: Roger Skipper Rosemary Simms Barbara Tipping Kingsley Ohene (non voting) Kempston West: Peter Smith Lynda Smith Jean Prettyman Langford: Jenny Broadbridge Gwen Arnott Stephanie Barker Lidlington LEP: Tim Mason Jeff Bulled London Road: Andrew Constant Courtney Aims Ezekiel Kumar - non voting member from 01/09/2023 Oakley: Jeanette Letch Graham Follett Park Road: Clive Kirkman (to 01/02/2024) Ruth Johnson (to 31/05/2022) Paul Lowe (to 31/08/2023) Janice Skerman (to 31/08/2024) Alison Symonds (from 01/10/2024) Priory: Carmen Rowe Keith Gaunt Lynne Gound (to 29/02/2024) Putnoe Heights: Jenny Snelson Sue Allen Nigel Firban from 15/10/2024 Andrew Dennison (to 31/08/2024)

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

Trustees (continued) Sandy: David Germany Jenny Endersby Jane Germany Shambrook: Mike Bonney David Barnes Marian Blyth Shefford: Mairi Perks Andi Pepper Joe Pepper Stewartby: Elaine Sullivan - Non voting member Trinity (Biggleswade): Owen Williams David Harrison Heather Harrison Upper Caldecote: Kim Curtis Jon Payne Sandra Payne Willington: Keith Lilley Paul Phipp Jeanette Pearce Wootton: Brian Addington Roz Addington

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AUGUST 2024

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

ENDOWMENT FUNDS

The Circuit has Endowment Funds which have arisen as a results of bequests in favour on the Circuit. In accordance with Standing Orders these monies are held by TMCP who manage them on its behalf.

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).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which 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

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Approved by order of the board of trustees on 23 June 2025 and signed on its behalf by:

Rev M Giles - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF NORTH BEDFORDSHIRE METHODIST CIRCUIT

Opinion

We have audited the financial statements of North Bedfordshire Methodist Circuit (the 'charity') for the year ended 31 August 2024 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).

In our opinion the financial statements:

• give a true and fair view of the state of the charity's affairs as at 31 August 2024 and of its incoming resources and application of resources, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Charities Act 2011.

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.

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:

• the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records and returns; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities set out on page 11, 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.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF NORTH BEDFORDSHIRE 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 regulations made under section 154 of that Act.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud, is detailed below:

• We obtained an understanding of the nature of the sector in which the charity operates, including the legal and regulatory framework applicable to the charity. We consider that the most significant are the Charities Statement of Recommended Practice, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the charity’s constitution.

• We obtained an understanding of how the charity complies with these requirements by discussions with those charged with governance and reviewing the minutes of Trustee meetings.

• We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with those charged with governance.

• We inquired of those charged with governance about their own identification and assessment of the risk of irregularities, including any known actual, suspected or alleged instances of fraud.

• We discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements may be susceptible to irregularities or fraud.

• Based on this understanding, we designed specific appropriate audit procedures to identify instances of noncompliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

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 is available on the FRC's website at: https://www.frc.org.uk/auditors/auditassurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report.

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.

Alberto Di Lorenzo FCA Senior Statutory Auditor

HW Bedford Limited, Accountants and Statutory Auditor First Floor Woburn Court 2 Railton Court Kempston MK42 7PN

Date: 23 June 2025

HW Bedford Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Notes INCOME AND ENDOWMENTS FROM Charitable activities Work of the Circuit Other trading activities 2 Investment income 3 Other income 4 Total EXPENDITURE ON Raising funds 6 Charitable activities Work of the Circuit 7 Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfers between funds 19 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 336,380 52,016 13,893 214 402,503 10,370 364,001 374,371 18,662 46,794 562,374 609,168 3,915,266 4,524,434	Restricted CMTF funds £ £ - - - - 15,500 - - - 15,500 - - - 111,412 140 111,412 140 1,153 - (94,759) (140) (562,374) - (657,133) (140) 753,598 1,092 96,465 952

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

Notes INCOME AND ENDOWMENTS FROM Charitable activities Work of the Circuit Other trading activities 2 Investment income 3 Other income 4 Total EXPENDITURE ON Raising funds 6 Charitable activities Work of the Circuit 7 Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfers between funds 19 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Endowment funds £ - - - - - - - - 1,067 1,067 -	31.08.24 31.08.23 Total Total funds funds £ £ 336,380 325,821 52,016 43,330 29,393 23,814 214 887,119 418,003 1,280,084 10,370 22,636 475,553 681,719 485,923 704,355 20,882 28,079 (47,038) 603,808 - - (47,038) 603,808 4,683,753 4,079,945 4,636,715 4,683,753
	1,067 13,797 14,864

The notes on pages 19 to 30 form part of the financial statements.

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

BALANCE SHEET AS AT 31 AUGUST 2024

Notes FIXED ASSETS Tangible assets 13 Investments Investments 14 Investments property 15 Total CURRENT ASSETS Debtors 16 Cash at bank Total CREDITORS Amounts falling due within one year 17 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS	Unrestricted funds £ 2,745,851 139,890 1,447,983 4,333,724 24,318 263,001 287,319 (96,609) 190,710 4,524,434 4,524,434	Restricted CMTF funds £ £ - - 16,062 - - - 16,062 - 620 - 79,959 952 80,579 952 (176) - 80,403 952 96,465 952 96,465 952

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

BALANCE SHEET AS AT 31 AUGUST 2024

Notes FIXED ASSETS Tangible assets 13 Investments Investments 14 Investments property 15 Total CURRENT ASSETS Debtors 16 Cash at bank Total CREDITORS Amounts falling due within one year 17 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS Unrestricted funds 18 Restricted funds 18 Endowment funds 18 NET ASSETS	Endowment funds £ - 14,864 - 14,864 - - - - - 14,864 14,864	31.08.24 31.08.23 Total Total funds funds £ £ 2,745,851 2,183,741 170,816 161,805 1,447,983 1,429,400 4,364,650 3,774,946 24,938 27,101 343,912 982,050 368,850 1,009,151 (96,785) (100,344) 272,065 908,807 4,636,715 4,683,753 4,636,715 4,683,753 4,620,899 4,668,864 952 1,092 14,864 13,797 4,636,715 4,683,753

The notes on pages 19 to 30 form part of the financial statements.

The financial statements were approved by the Board of Trustees on 23 June 2025 and signed on its behalf by:

M Giles Trustee

M Carr Trustee

Page 17

NORTH BEDFORDSHIRE METHODIST CIRCUIT

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024

Notes Cash flows from operating activities Cash generated from operations 22 Total Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received Net cash provided by/(used in) investing activities Cash flows from financing activities Repayment of loans made to churches Reclassification of loan to grant Repayment of loans received Total 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

31.08.24 31.08.23 £ £ (107,755) (314,966) (107,755) (314,966) (562,375) (792) - 756,269 28,492 22,896 (533,883) 778,373 2,500 3,750 1,000 - - - 3,500 3,750 (638,138) 467,157 982,050 514,893 343,912 982,050

Page 18

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest£.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from trading activities is recognised as earned as the related services are provided.

Investment income is recognised on a receivable basis.

Other income is recognised when it is receivable.

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.

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. Grants for property schemes are recognised when they have been fully approved, it is likely that the schemes will go ahead and the total costs can be estimated with a degree of certainty.

Tangible fixed assets

Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost or a reasonable value on receipt. Provision is made for depreciation to ensure the cost less residual value is written off over their useful economic useful lives on a straight line basis.

The useful lives of fixed assets are:

Plant and equipment – 3 years Freehold property – 50 years

No depreciation is charged on freehold property as they are maintained to a standard to ensure their residual values exceeds their costs.

Manses are classed as freehold property whilst their intended long term use is to house ministers. They are reclassified as investment properties once a decision has been taken that their use will change on a permanent basis from housing ministers to being rented out to generate income.

Page 19

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

ACCOUNTING POLICIES - continued

Investment property

Investment properties are properties which have been identified as unsuitable to house ministers but which the circuit wishes to retain in order to generate income needed to meet the operational requirements of the circuit,

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in 'net gains/ (losses) on investments' in the SoFA.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted and is therefore shown as a material designated fund.

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.

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

Pension costs and other post-retirement benefits

Retirement benefits to presbyters are provided by the Methodist Ministers Pension Scheme (MMPS). This is a defined benefit scheme and the assets are held separately from those of the Circuit.

Presbyters are not legally employed by the Circuit but they are treated as employed by the Methodist Connexion with their total remuneration being charged to the Circuit only whilst they are stationed within it. The MMPS is therefore treated as a defined contribution scheme and the contributions recognised as they are paid each period.

The Circuit operates a defined contribution pension scheme for all other employees. Contributions payable to this are charged to the Statement of Financial Activities in the period to which they relate.

Debtors and creditors receivable/payable within 1 year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Judgements

No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 20

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

2. OTHER TRADING ACTIVIES Income from photocopying Rental income from manse not required in the short term 3. INVESTMENT INCOME Dividend income Deposit account interest 4. OTHER INCOME Sale of churches Gain on sale of manses Funds closed churches Gifts and donations 5. INCOME FROM CHARTABLE ACTIVITIES Activity Circuit share offers Work of the Circuit 6. RAISING FUNDS Other trading activities Costs associated with letting out the manses 7. CHARITABLE ACTIVITIES COSTS Grant funding Direct of activities Costs (see note 7) £ £ Work of the Circuit 468,953 -

31.08.24 31.08.23 £ £ - 130 52,016 43,200 52,016 43,330 31.08.24 31.08.23 £ £ 901 918 28,492 22,896 29,393 23,814 31.08.24 31.08.23 £ £ - 756,269 - - - 129,472 214 1,378 214 887,119 31.08.24 31.08.23 £ £ 336,380 325,821 31.08.24 31.08.23 £ £ 10,370 22,636 Support costs (see note 8) Total £ £ 6,600 475,553

Page 21

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

8.	SUPPORT COSTS		Governance
			costs
			£
	Work of the Circuit		6,600
9.	AUDITORS' REMUNERATION
		31.08.24	31.08.23
		£	£
	Fees payable to the charity's auditors for the audit of the charity's financial
	statements	6,600	9,800

10. TRUSTEES' REMUNERATION AND BENEFITS

Presbyters and Deacons (ministers) are automatically members of the circuit meeting and are therefore trustees. Allministers receive remuneration by way of a standard stipend which is approved at The Methodist Conference on an annual basis. Superintendent Ministers also receive an allowance of 10% of the standard stipends,

Trustees' expenses

Presbyters and the Circuit Outreach Development Enabler are reimbursed for their travel and subsistence whilst carrying out their duties. This includes to and from meeting in their capacity as trustees.

During the year the Circuit paid expenses to 0 trustees (2023: 1) in addition to the above.

11. STAFF COSTS

Wages and salaries Social security costs Other pension costs	31.08.24 31.08.23 £ £ 201,461 182,894 18,677 16,561 41,044 38,819 261,182 238,274

The use of the word staff should be taken to include both Presbyters and Deacons who are legally not employees but office holders. Whilst their relationship is technically with God and the Connexion, their stipends are funded from the Circuit funds.

Stipend for Connexional Year 2023-24 was £29,040 per annum, superintendent ministers received a 10% allowance and deputy superintendent ministers received a 5% allowance.

The average monthly number of employees during the year was as follows:

Ministers Administrative support	31.08.24 31.08.23 £ £ 5 5 3 2 8 7

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

Page 22

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted funds £ INCOME AND ENDOWMENTS FROM Charitable activities Work of the Circuit 325,821 Other trading activities 43,330 Investment income 10,166 Other income 130,779 Total 510,096 EXPENDITURE ON Raising funds 22,636 Charitable activities Work of the Circuit 406,988 Total 429,624 Net gains/(losses) on investments 29,352 NET INCOME/(EXPENDITURE) 109,824 Transfers between funds 106,828 Net movement in funds 216,652 RECONCILIATION OF FUNDS Total funds brought forward 3,698,614 TOTAL FUNDS CARRIED FORWARD 3,915,266	CMTF £ - - 13,648 756,269 769,917 - 274,531 274,531 (661) 494,725 (106,828) 387,897 365,701 753,598	Restricted Endowment Total funds funds funds £ £ £ - - 325,821 - - 43,330 - - 23,814 71 - 887,119 71 - 1,280,084 - - 22,636 200 - 681,719 200 - 704,355 - (612) 28,079 (129) (612) 603,808 - - - (129) (612) 603,808 1,221 14,409 4,079,945 1,092 13,797 4,683,753

Page 23

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

13. TANGIBLE FIXED ASSETS COSTS At 1 September 2023 Additions Disposals Reclassification At 31 August 2024 DEPRECIATION At 1 September 2023 Additions At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023	Freehold property £ 562,375 - - - - - 2,183,213 2,745,588 2,183,213 2,745,588	Fixtures and fittings Totals £ £ 1,351 2,184,564 - 562,375 - - - - 1,351 2,746,939 823 823 265 265 1,088 1,088 263 2,745,851 528 2,183,741

The Trustees for Methodist Purposes act as Custodian Trustees holding the title to the eight properties (Manses) in which the Ministers live.

14. FIXED ASSET INVESTMENTS

Included in Fixed Asset Investments is an amount of £14,857 (2023 £13,797) representing two Endowment Funds both of which are invested in the TMCP Mixed Managed Fund.

Page 24

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

15. INVESTMENT PROPERTY

FAIR VALUE At 1 September 2023 Revaluation Reclassification At 31 August 2024 NET BOOK VALUE At 31 August 2024 At 31 August 2023	£ 1,429,400 18,583 -
	1,447,983
	1,447,983
	1,429,400

The Trustees for Methodist Purposes act as Custodian Trustees holding the title to the property. The fair value has been estimated by Roger Trudgill BSc (Hons), MRICS

Fair value at 31 August 2024 is represented by:

Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost At 31 August 2024	£ 178,000 570,652 29,400 18,583 651,348
	1,447,983

16. DEBTORS

Trade debtors Other debtors Amounts falling due after more than one year. Other debtors Aggregate amounts	31.08.24 31.08.23 £ £ 4,137 5,160 20,801 18,441 24,938 23,601 - 3,500 24,938 27,101

Other debtors includes £nil (2023: £3,500) of loans to no churches (2023:2) to enable them to carry out property schemes. None have fixed repayment terms except that they are interest free and must be paid in full within five years of draw down. Repayments of £2,500 (2023: £4,750) were received during the year. £1,000 shown as a loan in 2023, has since been reclassified as a property grant.

Page 25

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors Other creditors 18. MOVEMENT IN FUNDS	31.08.24 31.08.23 £ £ 2,139 5,296 94,646 95,048 96,785 100,344

At 01.09.23 £ Unrestricted funds General fund 3,892,428 Circuit Model Trust Fund 753,598 Manse repair costs 22,838 4,668,864 Restricted funds Circuit training fund 1,092 Endowment funds Endowment fund 13,797 TOTAL FUNDS 4,683,753 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 402,503 Circuit Model Trust Fund 15,500 Manse repair costs - 418,003 Restricted funds Circuit training fund - Endowment funds Endowment fund - TOTAL FUNDS 418,003	Net movement in funds £ 46,794 (94,759) - (47,965) (140) 1,067 (47,038) Resources expended £ (374,371) (111,412) - (485,783) (140) - (485,923)	Transfers between At funds 31.08.24 £ £ 562,374 4,501,596 (562,374) 96,465 - 22,838 - 4,620,899 - 952 - 14,864 - 4,636,715 Gains and Movement losses in funds £ £ 18,662 46,794 1,153 (94,759) - - 19,815 (47,965) - (140) 1,067 1,067 20,882 (47,038)

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

18. MOVEMENT IN FUNDS - continued Comparatives for movement in funds At 01.09.22 £ Unrestricted funds General fund 3,670,614 Circuit Model Trust Fund 365,701 Manse repair costs 28,000 4,064,315 Restricted funds Circuit training fund 1,221 Endowment funds Endowment fund 14,409 TOTAL FUNDS 4,079,945 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 510,096 Circuit Model Trust Fund 769,917 Manse repair costs - 1,280,013 Restricted funds Circuit training fund 71 Endowment funds Endowment fund - TOTAL FUNDS 1,280,084	Net movement in funds £ 114,986 494,725 (5,162) 604,549 (129) (612) 603,808 Resources expended £ (424,462) (274,531) (5,162) (704,155) (200) - (704,355)	Transfers between At funds 31.08.23 £ £ 106,828 3,892,428 (106,828) 753,598 - 22,838 - 4,668,864 - 1,092 - 13,797 - 4,683,753 Gains and Movement losses in funds £ £ 29,352 114,986 (661) 494,725 - (5,162) 28,691 604,549 - (129) (612) (612) 28,079 603,808

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Circuit Model Trust Fund Manse repair costs Restricted funds Circuit training fund Endowment funds Endowment fund TOTAL FUNDS	At 01.09.22 £ 3,670,614 365,701 28,000 4,064,315 1,221 14,409 4,079,945	Net movement in funds £ 161,780 399,966 (5,162) 556,584 (269) 455 556,770	Transfers between At funds 31.08.24 £ £ 669,202 4,501,596 (669,202) 96,465 - 22,838 - 4,620,899 - 952 - 14,864 - 4,636,715

A current year 12 months and prior year 12 months combined net movement in funds, included in the above, are as follows:

Unrestricted funds General fund Circuit Model Trust Fund Manse repair costs Restricted funds Circuit training fund Endowment funds Endowment fund TOTAL FUNDS	Incoming resources £ 912,599 785,417 - 1,698,016 71 - 1,698,087	Resources expended £ (798,833) (385,943) (5,162) (1,189,938) (340) - (1,190,278)	Gains and Movement losses in funds £ £ 48,014 161,780 492 399,966 - (5,162) 48,506 556,584 - (269) 455 455 48,961 556,770

Details on agreed expenditure from the Circuit Model Trust Fund can be found within the Other Financial Commitments note to these financial statements.

19. Transfers between funds

Amounts were transferred between the CMTF and the general fund on purchase of the manse which is to be fully financed from the CMTF. The amount transferred during the year represent those source of funds used.

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NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

20. RELATED PARTY DISCLOSURES

Transactions between the Circuit and its member churches

The Circuit received share offers of £336,380 (2023: £325,821) from the churches within the circuit.

They received £2,500 (2023: £4,750) in loan repayments from churches. See debtors note for further details.

They received no money (2023: £127,272) in cash funds on the closure of a church within the Circuit.

Transactions between the Circuit and the Beds, Essex and Herts District (BEH).

The Circuit paid BEH £16,598 (2023: £16,016) in district assessment. They also paid them £47,283 (2023: £273,217) by way of levies on the net sale of properties and or the balance on monies held in the Circuit Model Trust Fund at the start of the financial year.

Transactions between the Circuit and Connexion

The Circuit paid Connexional £67,922 (2023: £63,720) in assessment which is collected by BEH.

21. POST BALANCE SHEET EVENTS

In January 2025 a manse was sold, 79 Ampthill Road, Shefford, Bedfordshire, SG17 5AM

Page 29

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

22. RECONCIALIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial Activiites) Adjustments for: Gain on investments Profit on disposal of fixed assets Interest received Closed church investment with TMCP (Increase)/decrease in debtors Increase/(decrease) in creditorrs Net cash used in operations 23. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS At 01.09.23 £ Net cash Cash at bank 982,050 982,050 Debt Debts falling due within 1 year - - Total 982,050

31.08.24 31.08.23 £ £ 603,808 (20,882) (28,079) - (756,269) (28,492) (22,896) (6,791) (130,945) (1,334) 10,471 (3,218) 8,944 (107,755) (314,966) Cash flow At 31.08.24 £ £ (638,138) 343,912 (638,138) 343,912 - - - - (638,138) 343,912 (47,038)

24. FUNDS RECEIVED AS AGENT

During the year the Circuit received funds from 11 (2023: 16) churches within the Circuit amounting to £7,953 (2023: £9,188) which were fully paid over to other Connexional funds, after the financial year end. At the year end there was £7,953 owing to the churches which is included in other creditors (2023: £nil).

Page 30

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

INCOME AND ENDOWMENTS Other trading activities Income from photocopying Rental from manse not required in the short term Investment income Dividend income Deposit account interest Charitable activities Circuit share offers Other income Gains on sale of tangible fixed assets Funds on closure of churches Donations Sundry income Total incoming resources	31.08.24 31.08.23 £ £ - 130 52,016 43,200 52,016 43,330 901 918 28,492 22,896 29,393 23,814 336,380 325,821 - 756,269 - 129,472 214 1,137 - 241 214 887,119 418,003 1,280,084

This page does not form part of the financial statements

Page 31

NORTH BEDFORDSHIRE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR YEAR ENDED 31 AUGUST 2024

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024

EXPENDITURE Other trading activities Costs associated with letting out the manse Charitable activities Wages Social security Pensions Rates and water Insurance Light and heat Telephone Sundries District Assessment Methodist Church Fund Manse repairs Travel Circuit administration Quinquennial costs Local preacher and supernumery fees Ministerial administration costs Stationing - inc removal costs Training Finance charges District levy Licences and subscriptions Legal & professional Grants to institions Grants to individuals Grants to churches Support costs Governance costs Auditors' remuneration Total resources expended Net income/(expenditure) before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net income

31.08.24 31.08.23 £ £ 10,370 22,636 201,461 182,894 18,677 16,561 41,044 38,819 17,850 18,971 7,861 13,809 - (53) 4,355 3,896 690 2,274 16,598 16,016 67,922 63,720 14,819 10,455 8,979 8,341 8,365 6,963 4,250 6,150 701 1,530 3,637 3,325 - - 634 211 2,627 1,550 47,283 273,217 - - - 3,270 - - - - 1,200 - 468,953 671,919 6,600 9,800 6,600 9,800 485,923 704,355 (67,920) 575,729 20,882 28,079 (47,038) 603,808

This page does not form part of the financial statements

Page 32