**Circuit Accruals Accounts 2023-2024**
# **THE METHODIST CHURCH**
# **REPORT AND ACCOUNTS**
# **(ACCRUALS BASIS) for the year ended 31 August 2024**
## **Leeds North and East**
## **Circuit**
## **Registered Charity - Registration number**
**1131455**
|Leeds
**District No /**
**Circuit No**|Leeds
**District No /**
**Circuit No**|Leeds
**District No /**
**Circuit No**|**16-02**|
|---|---|---|---|
|||||
|**Ministers**||Revd George Bailey (Co-Superintendent)||
|||Revd Edward Sakwe||
|||Revd Tanya Short (Co-Superintendent)||
|||Revd Becki Stennett||
|||Revd Mark Stennett||
|||Deacon Adelha da Silva Kaka||
|||Revd StevenJones (in other appointment)||
|||||
|**Circuit Stewards**
**Circuit Treasurer**|Mrs Barbara Belsham
Mr Adrian Marshall
Mrs Janice Green
Mrs Anne Kirkland (senior Circuit Steward)
Revd StevenJones
~~a~~|||
**Notes to the Accounts**
## **1 Basis of accounting**
The financial statements have been prepared under the Charities Act 2011 in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2019).
## **2 Funds**
The funds held constitute:
- General Funds held for any purpose of the Circuit, which are Unrestricted.
- The Circuit Model Trust Fund has wide purposes defined in Standing Orders, and is categorised as unrestricted.
- Restricted funds which are held for a narrower purpose.
- There are no Endowment funds.
Details of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash.
## **3 Accounting policies**
## **Basis**
These accounts have been prepared on the basis of historical cost (except that investments are shown at their market value at the end of the year), on the accruals basis to show a true and fair view of the Circuit’s financial position and activities.
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.
## **Consolidation**
The Circuit has denominational regulatory oversight in respect of the work of the churches within the circuit but has no legal or operational control of those churches and their governing bodies except in extreme circumstances. For this reason, the financial statements of churches within the circuit are not consolidated into these financial statements.
## **Content**
The financial information presented is relevant, reliable, comparable, and complete. Where estimates are used, these are based on experience, research, and judgement.
The accounts are expressed in £ Sterling, rounded to the nearest pound.
## **Going concern**
Based on the monetary assets and human resources available as at 31 August 2024, the trustees believe that the Circuit is a going concern.
## **Incoming Resources**
Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.
## **Methodist Connexional Funds**
The Methodist Church Connexion raises assessments against Circuits, and these are paid quarterly to their Districts. The Circuit receives contributions from the Churches in the Circuit. The District retains a portion of the assessment received from the Circuit to meet its own costs, and remits the balance to the Connexion.
The Circuit also acts as Agent for ad hoc collections for various funds controlled and administered by the Methodist Church.
## **Ministers’ Manse Costs**
The Circuit is required to provide accommodation for each minister appointed to the Circuit. Such accommodation (manses) is for the use of the minister and their immediate family. Other than in exceptional circumstances (which need prior approval from the Connexion), ministers are expected to occupy such manse provided.
The Circuit bears the cost of repairs, maintenance, buildings insurance, and water charges. Such costs are not required by HMRC to be disclosed as benefits-in-kind as these specific costs are considered to be non-taxable.
## **Public Benefit Entity**
Leeds North and East Methodist Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below.
## **Resources Expended**
This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.
## **Grants**
Grants made by the Circuit from its own funds are recognised in full at the time of agreement or when the Circuit accepts that there is a legal or operational obligation to make the payment.
## **VAT**
Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.
## **Tangible fixed assets for use by the Circuit**
Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £500.
Freehold property is shown in the accounts at 2024 insurance valuations. No depreciation is provided on the buildings because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would therefore not be material.
The properties have been reviewed for impairment.
## **Investment Properties**
Investment properties - no property is currently deemed to not be held for the long-term purposes of the charity.
## **Investments**
Investments are valued in the balance sheet at market value as at year-end. Investment income is included in the accounts when receivable, and any gains or losses on revaluation as at year-end are shown in the SOFA.
The Circuit’s investments are in monetary assets classified as basic financial instruments under FRS 102 and are held by the Trustees for Methodist Church Purposes (TMCP) as Custodian Trustee. The valuation, at the market value, are those provided by TMCP. The unrealised gains arising on investments at the end of the year are shown in the SOFA.
## **Debtors and Prepayments**
Debtors and prepayments include the September 2024 stipends paid in advance, insurance premiums relating to post year-end periods, and reimbursements for a portion of manse costs receivable from Cliff College. The short-term loan to the Yorkshire West District in respect of funding for the Leeds City Mission was repaid to the Circuit during the year under review.
## **Creditors**
Creditors include accrued expenses, grants to which the Circuit has committed for the current year not yet paid out at year-end, the quarterly assessments for September to December 2024 received in advance, and funds held for the support of presbyters and deacons.
## **4 Payment to Trustees**
Apart from stipends paid to ministers or salaries paid to employed lay staff, there were no payments made to trustees for additional services provided to the Circuit beyond the approved reimbursement of reasonable expenses incurred on behalf of the Circuit.
|Trustee expenses|||||
|---|---|---|---|---|
||**2023/24**||**2022/23**||
|Number of Trustees||12||14|
|Total amount||£24,254||£23,134|
## **5 Fees for audit of the accounts**
Independent auditors' fees for reporting on the accounts Other fees (e.g. advice, accountancy services) paid to the independent auditor
2023/24 2022/23 £ £ 5,056 4,600 NIL NIL
## **6 Paid employees**
**Staff Costs paid during the year were:**
2023/24 2022/23 Gross wages, salaries, and benefits in kind £ 241,299 243,411 Employer’s National Insurance costs £ 17,341 17,744 Pension costs £ 45,234 46,916 Total staff costs £ 303,874 308,071 **Average number of full-time equivalent employees in the year were:** 11 13
## **7 Capital Commitments and Contingent Liabilities**
There are no capital commitments as at 31 August 2024. No contingent liabilities were identified as at 31 August 2024.
## **8 For information only: Money received and passed on to External Organisations**
|**Balance brought forward from last year**
Offerings/Gifts - received for External Organisations
Offerings/Gifts - passed to External Organisations
**Balance carried forward**|2023/24
£
0
0
0|2022/23|
|---|---|---|
|||£|
||||
|||0|
|||0|
||0|0|
## **9 Tangible Fixed Assets**
## **Cost or valuation**
**----- Start of picture text -----**
Payments
Fixtures, on account
fittings and assets
Other and under
Land Manses buildings equipment construction Total
£ £ £ £ £ £
Balance brought forward 0 2,962,810 1,707,439 0 4,670,249
Additions 0 0 0 0 0
Revaluations (+/-) 0 68,121 149,536 0 217,657
Disposals (-) 0 0 0 0 0
Transfers * (+/-) 0 0 0 0 0
Balance carried forward 0 3,030,931 1,856,975 0 4,887,906
**----- End of picture text -----**
## **Accumulated depreciation**
**----- Start of picture text -----**
Balance brought forward
Depreciation charge for
-
year ( )
Revaluations (+/-)
-
Disposals ( )
Transfers* (+/-)
Balance carried forward
Net book value
Brought forward 0 2,962,810 1,707,439 0 4,670,249
Carried forward 0 3,030,931 1,856,975 0 4,887,906
**----- End of picture text -----**
## Revaluations
The carrying value of manses and other buildings is revalued annually based on insurance replacement value. The carrying value of church buildings is not accounted for in the Circuit’s accounts.
## Disposals
No properties were disposed of during the year under review.
## **10 Investment assets**
## **The circuit has no Investment properties**
## **The circuit has no common investment fund holdings**
## **11 Loans**
The Circuit had paid an amount of £12,433 to the Yorkshire West District (YWD) to provide funding for the Leeds City Mission. This was treated as a loan in the Circuit accounts in previous years, but YWD repaid this amount to the Circuit during the year under review.
## **12 Analysis of restricted and designated funds 2023-24**
**----- Start of picture text -----**
Restricted Fund Opening Incoming Resources Transfers Closing Purpose of the
Name Balance Resources Expended Balance fund
Meeting Point 25,322 78,650 62,767 41,205 Outreach and
Café community support
in the Harehills
area
Moortown 5,184 25,118 20,488 9,814 Outreach and
Methodist Centre community support
in the Moortown
area
Totals 30,506 103,768 83,255 51,019
**----- End of picture text -----**
## _````Comparative analysis of restricted and designated funds 2022-23_
**----- Start of picture text -----**
Restricted Fund Opening Incoming Resources Transfers Closing Purpose of the
Name Balance Resources Expended Balance fund
Meeting Point 21,153 58,585 54,416 25,322 Outreach and
Café
community support
in the Harehills
area
Moortown 6,820 18,012 19,648 5,184 Outreach and
Methodist Centre community support
in the North Leeds
area
Totals 27,973 76,597 74,064 30,506
**----- End of picture text -----**
## **13 Related Party transactions**
**----- Start of picture text -----**
-
This year (2023 2024)
Name of related party Relationship Description of transaction Income from Payments to Loans to Amounts
related party related party related party owed by
during the during the during the related
year year year party as on
31-Aug-2024
£ £ £ £
Methodist body Leeds Circuits report
West Yorkshire Methodist District to Assessment 0 20,598 0 0
Methodist body Leeds Circuits report
West Yorkshire Methodist District to Advance Fund 10,000 0 0 0
Circuit Churches Churches that comprise the Circuit Donations to Meeting Point 6,492 0 0 0
Circuit Churches Churches that comprise the Circuit Assessment payments 411,446 0 0 0
Circuit Meeting Members Charity Trustees Donations to support Diaconal work 0 0 0
Methodist Church Fund National Methodist Fund Grant to support Meeting Point 0 0 0
Methodist Church Fund National Methodist Fund Assessment 0 87,438 0
Methodist ministers housing association Body to support retired ministers Grant 0 0 0 0
Total 427,938 108,036 0 0
-
Last year (2022 23)
Name of related party Relationship Description of transaction Income from Payments to Loans to Amounts
related party related party related party owed by
during the during the during the related
year year year party as on
31-Aug-2023
£ £ £ £
Methodist body Leeds Circuits report
West Yorkshire Methodist District to Assessment 0 19,432 0 0
Methodist body Leeds Circuits report
West Yorkshire Methodist District to Advance Fund 10,000 0 0 12,443
Circuit Churches Churches that comprise the Circuit Donations to Meeting Point 9,149 0 0 0
Circuit Churches Churches that comprise the Circuit Assessment payments 388,759 0 0 0
Circuit Meeting Members Charity Trustees Donations to support Diaconal work 0 0 0
Methodist Church Fund National Methodist Fund Grant to support Meeting Point 0 0 0
Methodist Church Fund National Methodist Fund Assessment 0 82,488 0
Methodist ministers housing association Body to support retired ministers Grant 0 0 0 0
Total 407,908 101,920 0 12,443
**----- End of picture text -----**
**Leeds North and East Circuit TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024**
## **Introduction**
This annual report needs to be read in the context of the annual accounts including the report on governance, risk management, and declarations which together all form a cohesive summary of the financial and general activities of the charity for the year 1 September 2023 to 31 August 2024.
Each of the churches within the circuit are a charity in their own right and therefore file their own set of accounts and annual report. More detailed information on the circuit, its activities and contacts can be found on the charity's website: www.leedsnandemethodist.org.uk.
## **Aims and organisation**
The overall aims and organisation of the Leeds North and East Circuit are set out in the Governance section (2) of the annual accounts.
## **The Circuit Mission Statement for the year 2023/24 was as follows:**
The Churches of the Leeds North and East Methodist Circuit work together to share the Good News of Jesus Christ through worship, learning and caring, service, and evangelism.
## **Review of the year**
## Income and expenditure summary
The consolidated deficit (including movement on Model Trust Funds) was £58,152 compared to a budgeted deficit of £78,220. This is largely due to the operating deficit of £53,251 (compared to budgeted deficit of £48,970), as well as a £4,900 deficit on the Model Trust Fund (compared to budgeted deficit of £29,250; the deficit is due to the levy charged by the Trustees for Methodist Church Purposes on opening cash balances held by them).
The deviations from the original budget that need to be noted are as follows:
- Circuit income totalling £501,175 was £24,677 ahead of budget overall.
- Assessments from churches were £412 below budget.
- The establishment of the District Digital Enabler role and the appointment of Revd Mark Stennett in this role meant that District contributed £10,000 p.a. to the Circuit to compensate for time spent on District work.
-
- Circuit expenditure totalling £554,427 was £28,958 over budget overall.
- Ministers’ stipends were £1,173 below budget, but overspends on expenses (mainly telephones, National Insurance, and travel) meant that overall ministers’ costs were £10,164 over budget.
- Manse maintenance costs exceeded budget by £1,821.
- Lay employment costs were £9,555 above budget due to salary increases linked to the change in the Real Living Wage being higher than anticipated when the budget was drawn up. This increase is considered extraordinary due to the spike in inflation during the year.
- Grants paid out was £3,490 below budget due to the reduction in the contributions to the Methodist Ministers Housing Society and Leeds Citizens.
-
- The interest received on the funds held at Trustees for Methodist Church Purposes significantly exceeded the budgeted amount due to the amount of cash held on deposit as well as the higher interest rates. On the other hand, the levy charged on this cash deposit was more or less in line with budget. This resulted in the Model Trust Fund deficit being £24,350 lower than what was budgeted.
Overall reserves increased by £9,970 due to the revaluation of properties held at year-end, less the combined deficits from normal operations and the Model Trust Funds, due to a combination of the net gain on the sale of the properties and the revaluation of properties held at year-end, less the operational deficit.
The Circuit Meeting has agreed to fund certain costs from reserves in accordance with the Circuit Reserves Policy, which is reviewed from time to time.
## Income trends
The bulk of the Circuit's income is from assessments paid by the Circuit churches. The amount of £411,447 represents a 5.8% increase on last year.
## Expenditure trends
With the ministerial staff remaining unchanged during this Connexional year, ministerial costs have increased by £10,164. Given the high inflation that prevailed during the year, this represents a net decrease in real terms.
Lay employment staffing was unchanged during the year, with the increase in costs being due to the increase linked to the Real Living Wage, which came in at 10% with effect from 1 December 2023.
## Fund balances
Total Circuit funds (excluding Trust properties) decreased from £696,210 to £656,573 due to the current deficit. The resultant year-end fund balance is sufficient to cover a full year’s expenditure.
## **Plans for 2024/25 and 2025/26**
The Circuit made the two community pastoral visitor positions redundant with effect from 31 March 2025, and had planned to reduce the number of ministers by one post from 1 September 2025.
However, following late changes in the stationing process, one of the co-Superintendents (who is currently 70% deployed within the Circuit) is also to take up a new station from 1 September 2025, with his replacement being a full-time appointment. This means that the net ministerial staff reduction is effectively 0.7 rather than a full post.
While the planned reduction in the annual deficit for the 2023/24 and 2024/25 Connexional years is still to continue in 2025/26, the original plan to achieve a balanced budget by 2025/26 has had to be postponed. However, assuming that the planned deficit for 2025/26 were to remain unchanged going forward, the current reserves are sufficient to cover this for just over 8 years.
## Income trends
The bulk of the Circuit's income is from assessments paid by the Circuit churches. For 2024/25 it was proposed that assessments be increased by an average of 7%, taking total assessments up from £411,858 to £440,858.
The preliminary budget for 2024/25 initially proposed a further 10% increase in assessments, given the high levels of inflation experienced during 2023. However, by the time the church treasurers met at the beginning of 2024, it was felt that inflation was moderating sufficiently to enable this increase to be reduced to 8%.
With the proposed increases to District and Connexional assessments coming in at an estimated 2% rather than the 6% budgeted for (to be confirmed by the District treasurer), and stipend increases likely to be 6.81% (compared to the 8% figure used in the budget), there is scope to curtail the assessment increases to 7% (i.e. £440,688) while still reducing the deficit.
For 2025/26, the total assessments are to remain unchanged when compared to 2024/25, with individual church assessments to be adjusted within a -2% to +2.2% range.
The Mercia Way manse will also be occupied by a minister as from 1 September 2025, which means that the rental income that is currently received on this manse will fall away.
## Expenditure trends
The effects of the two redundancies that took place in the 2024/25 Connexional year and the reduction in ministerial staff by an effective 0.7 posts from the beginning of the 2025/26 Connexional year are reflected in the staff costs table below:
|below:||||
|---|---|---|---|
|||Ministerial|Lay|
|2021/22|(actual)|£243,481|£99,737|
|2022/23|(actual)|£236,138|£71,933|
|2023/24|(actual)|£254,506|£77,885|
|2024/25|(budget)|£263,661|£75,675|
|2025/26|(budget)|£256,743|£61,478|
Significant manse maintenance costs are likely to be incurred during the 2024/25 Connexional year due to major renovations taking place as current ministers depart and new ministers are appointed – this includes fairly major work on the Station Fields manse and some minor works required on the Mercia Way and Stainbeck Lane manses.
## **Looking to 2025/26 and beyond**
The Circuit Meeting has committed to a balanced budget by the end of the 2025/26 Connexional year. However, it was noted that while Circuit reserves have remained relatively stable due to the reduction in the annual deficits over the past few years, many of the churches are reporting significantly depleted reserve levels.
When drafting the 2025/26 budget, it was felt that overall assessments needed to be held at the same levels as 2024/25, thus representing a decrease in real terms. As already indicated, changes to the assessments of the individual churches will fall within a -2% to +2.2% range, thus providing further relief where required.
The Circuit will be closely monitoring the situation, and anticipates that one or more buildings may become available for sale or rental in coming years to bolster its reserves. In the meantime, it is projected that based on the current income and expenditure patterns, the existing reserves are sufficient to cover deficit budgets at current levels for approximately 8 years.
Accordingly, while the structure of the Circuit may undergo some further changes in years to come, the Circuit is confident that it can continue as a going concern for the foreseeable future.
## **Statement of Trustees’ responsibilities**
The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with general applicable law and United Kingdom Accounting Standards (United Kingdom General Accepted Accounting Practice).
The law applicable to charities in England and Wales 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 Circuit and of the incoming resources and application of resources, including its income and expenditure, for that period.
- In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK accounting standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Circuit will continue in business.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Circuit’s transactions, and disclose with reasonable accuracy at any time the financial position of the Circuit and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2015, and the provisions of the Trust deed.
They are also responsible for safeguarding the assets of the Circuit, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Disclosure of information to the auditor**
Each of the persons who are Trustees at the time when this Trustees’ report is approved has confirmed that
- so far as that Trustee is aware, there is no relevant audit information of which the Circuit’s auditor is unaware; and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information, and to establish that the Circuit’s auditor is aware of that information.
Approved by order of the members of the Circuit Meeting, and signed on their behalf by Revd Dr George Bailey, Circuit co-Superintendent and chair of the Circuit Meeting; and Revd Steven Jones, Circuit Financial Steward.
**Leeds North and East Circuit Trustee’s Annual Report on Finance and Governance**
## **Basis of preparation and legal framework**
The Charity’s annual report and accounts for the year ended 31 August 2024 have been prepared in accordance with the Charities Act 2011 and the Charities: Statement of Recommended Practice 2015 as applicable to the Financial Reporting Standard FRS 102.
Full Name of Charity: Leeds North and East Methodist Circuit
Registration Charity Number: 1131455
Main communication address:
Circuit Office, Lidgett Park Methodist Church, Lidgett Place, LEEDS LS8 1HG
The members of the Leeds North and East Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches.
Circuit Ministers and officers for the year to end of August 2024
Active Circuit Ministers Revd George Bailey (Co-Superintendent) Revd Edward Sakwe Revd Tanya Short (Co-Superintendent) Revd Becki Stennett Revd Mark Stennett Deacon Adelha da Silva Kaka Revd Steven Jones (in other appointment)
Circuit Lay Workers Mrs Mary Saddler (members of Circuit meeting) Circuit Stewards Mrs Barbara Belsham Mr Adrian Marshall Mrs Janice Green Mrs Anne Kirkland (Senior)
Revd Steven Jones (Circuit Finance Steward) acted as the principal officer overseeing the day-to-day financial management and accounting for the circuit during the year.
Independent auditors: Thomas Coombs Limited, Chartered Accountants and Business Advisers 3365 The Pentagon Century Way Thorpe Park Leeds, LS15 8ZB
Investment Bankers: Central Finance Board of the Methodist Church Trustees for Methodist Church Purposes
## **Aims and organisation**
Charity objective is to act as a Resource provider within the area around North and East Leeds for the Methodist Church.
The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:
- a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;
- b) Any charitable purpose for the time being of any Connexional, District, Circuit. Local or other organisation of The Methodist Church;
- c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;
- d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church.
- The organisation and resourcing of regular public acts of worship open to members of the church and non members alike.
The teaching of Christianity through sermons, courses and small groups. The resourcing of pastoral work including visiting the sick and bereaved. Taking religious assemblies in local schools.
Promotion of Christianity through the staging of events and services.
Provision of chaplaincy services to the local university and other institutions.
## **Public Benefit**
We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.
## **Structure, governance, and management**
The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976)
Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).
Day to day management of the circuit is undertaken by the Circuit Leadership team along with the Local Preachers meeting. Overall accountability for circuit matters rests with the Circuit Trustees who meet usually three times a year under the Chair of the Superintendent Ministers. The Trustees are also the Key Management Personnel and collectively take all the key decisions in respect of use of resources and activities.
## **Trustee training**
A range of guidance produced by the Methodist Connexion to support the effective running of the circuit, specifically the leaflet ‘The Role of a Trustee in The Methodist Church’, is given to all new Circuit meeting members as induction to their role as trustees.
## **Related Parties**
The Circuit is part of the Yorkshire West District and is also accountable to the Methodist Conference.
The following Methodist Churches are linked to the circuit: Alwoodley Park, Barwick-in-Elmet, Chapel Allerton, Christ Church Halton*, Colton, Cross Gates, Garforth, Lidgett Park, Newbourne, Oakwood**, Roscoe, Scholes, Shadwell, and Trinity United*. _(* Local Ecumenical Partnership: Methodist / United Reformed ** Local Ecumenical Partnership: Methodist / Church of England)_ The circuit also manages the Meeting Point Café in Harehills, the Moortown Methodist Church Centre, and the Repair Café in Cross Gates.
## **Pay policy**
The circuit pays all its presbyters and deacons in Circuit appointments in line with stipend rates agreed by the Methodist Conference each year.
Ministers in other appointments receive no payment from the Methodist Church other than the reimbursement of reasonable expenses incurred on behalf of the Circuit.
Lay employees are on locally agreed rates approved by the circuit meeting in general terms, and which comply with Methodist Conference advice.
No Trustees are paid in their capacity as trustees – although presbyters and deacons in Circuit appointments, and lay employees are paid for undertaking their specific agreed roles.
## **Risk Management**
The Circuit Leadership Team and Circuit Stewards manage risk taking on a day-to-day basis. Professional advice is taken as required. There is a regular annual review process which is undertaken and recorded.
Income and Expenditure is being monitored in total, and is compared with the approved annual budget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.
## **Safeguarding**
Every person has a value and dignity which comes directly from the creation of humans in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ.
Among other things, this implies a duty to value all people as bearing the image of God, and therefore to protect them from harm.
Methodist Connexional practice outlines commitment to the following principles:
- the care and nurture of, and respectful pastoral ministry with, all children, young people and adults.
- the safeguarding and protection of all children, young people and adults when they are vulnerable.
- the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse.
- We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes.
- We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation.
- We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care.
- We will seek to challenge any abuse of power, especially by anyone in a position of trust.
- We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult.
- In all these principles we will follow legislation, guidance and recognised good practice.
The Leeds North and East Circuit commits itself to ensuring the implementation of the Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches.
The Leeds North and East Circuit commits itself to the provision of support, advice, and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.
## **Reserves policy**
The Reserves Policy for the Circuit is to hold a minimum sum in its current and Circuit Finance Board deposit accounts equivalent to 3 months’ average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and / or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.
The circuit also holds reserves over and above this minimum which have arisen from the sale of churches and manses, or bequests.
The use of this money is currently under consideration.
**Circuit No**
**LEEDS NORTH AND EAST CIRCUIT**
**16-02**
## **Statement of Financial Activities (SOFA) for the year ended 31 August 2024**
|**Notes to the**
**accounts**
**Income**
1 Donations and legacies
4
2 Income from monetary investments
5
3 Income from investment properties
6
4 Assessments on Churches
5 Capital Receipts
7
6 Grants received
7 Other charitable income
8**Total income**
**Expenditure**
9 Grants and donations
9
10 Salaries and associated costs
8
11 Property maintenance
12 Connexional assessment & model trust levy
13
13 District Assessment & Levy
13
14 Depreciation
15 Office expenses
10
16 Other outgoings
11
17**Total charitable expenditure**
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20**Net income/(expenditure)**
21 Transfers between funds
22 Other gains/(losses)
12
23**Net movement in funds**
24 Total funds brought forward
**25 Total funds carried forward**|**General Fund**
**(Unrestric-ted)**
**Circuit Model**
**Trust**
**(Unrestric-ted)**
**Designated**
**Funds**
**(unrestric-ted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2023-24**
£
£
£
£
£
£
25,896
-
-
29,142
-
**55,038**
6,057
26,160
-
5,313
-
**37,530**
26,652
-
-
24,610
-
**51,262**
411,446
-
-
-
-
**411,446**
-
-
-
-
-
**0**
10,000
-
-
**10,000**
-
-
-
44,703
-
**44,703**
**480,051**
**26,160**
**-**
**103,768**
**-**
**609,979**|
|---|---|
||18,044
-
-
-
-
**18,044**
283,266
-
-
20,608
-
**303,874**
26,843
18,050
**44,893**
20,598
-
**20,598**
87,438
29,603
**117,041**
-
**0**
67,222
1,457
-
743
-
**69,422**
29,891
-
-
43,854
-
**73,745**
**533,302**
**31,060**
**0**
**83,255**
**0**
**647,617**|
||0
0
**-53,251**
**-4,900**
**0**
**20,513**
**0**
**-37,638**
150,000
150,000
-
0
68,121
-
-
149,536
-
217,657
**164,870**
**-154,900**
**0**
**170,049**
**0**
**180,019**|
||2,908,496
661,368
49,334
1,745,261
-
5,364,459
**3,073,366**
**506,468**
**49,334**
**1,915,310**
**-**
**5,544,478**|
**Circuit No**
**LEEDS NORTH AND EAST CIRCUIT**
**16-02**
## **Statement of Financial Activities (SOFA) for the year ended 31 August 2023**
|**Notes to the**
**accounts**
**Income**
1 Donations and legacies
4
2 Income from monetary investments
5
3 Income from investment properties
6
4 Assessments on Churches
5 Capital Receipts
7
6 Grants received
7 Other charitable income
8**Total income**
**Expenditure**
9 Grants and donations
9
10 Salaries and associated costs
8
11 Property maintenance
12 Connexional assessment & model trust levy
13 District Assessment & Levy
13
14 Depreciation
15 Office expenses
10
16 Other outgoings
11
17**Total charitable expenditure**
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties
20**Net income/(expenditure)**
21 Transfers between funds
22 Other gains/(losses)
12
23**Net movement in funds**
24 Total funds brought forward
**25 Total funds carried forward**|**General Fund**
**(Unrestric-ted)**
**Circuit Model**
**Trust**
**(Unrestric-ted)**
**Designated**
**Funds**
**(unrestric-ted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2022-23**
£
£
£
£
£
14,177
-
-
16,486
-
**30,663**
5,428
17,607
-
664
-
**23,699**
15,302
-
-
21,073
-
**36,375**
388,759
-
-
-
-
**388,759**
-
-
-
-
-
**0**
10,000
-
-
-
-
**10,000**
-
-
-
38,374
**38,374**
**433,666**
**17,607**
**-**
**76,597**
**-**
**527,870**|
|---|---|
||12,038
-
-
-
-
**12,038**
288,234
-
-
19,837
-
**308,071**
37,302
-
-
14,984
-
**52,286**
19,432
-
-
-
-
**19,432**
82,488
42,897
-
-
-
**125,385**
-
-
-
-
-
**0**
56,107
1,963
-
760
-
**58,830**
25,579
-
-
38,483
-
**64,062**
**521,180**
**44,860**
**0**
**74,064**
**0**
**640,104**|
||0
**-87,514**
**-27,253**
**0**
**2,533**
**0**
**-112,234**
-
-
0
234,652
-
-
123,561
-
358,213
**147,138**
**-27,253**
**0**
**126,094**
**0**
**245,979**|
||2,761,358
688,621
49,334
1,619,167
5,118,480
**2,908,496**
**661,368**
**49,334**
**1,745,261**
**-**
**5,364,459**|
**Circuit No**
**LEEDS NORTH AND EAST CIRCUIT**
**16-02**
## **Statement of Financial Activities (SOFA) for the year ended 31 August 2024 - NOTES**
|**Notes to the**
**accounts**
**4. Income - Donations and legacies**
4.1 Donations
4.2 Legacies
**Total**
**5. Income - Monetary investments**
5.1 Central Finance Board
5.2 Trustees for Methodist Church Purposes
5.3 Current accounts
5.4 Other
**Total**
**6. Income - Investment properties**
6.1 Rental income - Meeting Point flat
6.2 Rental income - Moortown Methodist Centre
6.3 Rental income - Circuit manses
6.4 Other
**Total**
**7. Income - Capital receipts**
7.1 Proceeds on sale - churches
7.2 Other
**Total**|**General Fund**
**(Unrestric-ted)**
**Circuit Model**
**Trust**
**(Unrestric-ted)**
**Designated**
**Funds**
**(unrestric-ted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2023-24**
£
£
£
£
£
£
25,896
29,142
**55,038**
**0**
**25,896**
**-**
**-**
**29,142**
**-**
**55,038**
3,571
**3,571**
2,467
26,160
5,313
**33,940**
19
**19**
**0**
**6,057**
**26,160**
**-**
**5,313**
**-**
**37,530**
4,805
**4,805**
19,805
**19,805**
26,652
**26,652**
**0**
**26,652**
**-**
**-**
**24,610**
**-**
**51,262**
-
**0**
**0**
**-**
**-**
**-**
**-**
**-**
**-**|**Total**
**2022-23**
£
**30,663**
**0**
**30,663**|
|---|---|---|
|||**1,951**
**19,695**
**2,053**
**0**
**23,699**|
|||**3,725**
**17,348**
**15,302**
**0**
**36,375**|
|||**0**
**0**
**-**|
7.1 Proceeds on sale - churches 7.2 Other **Total**
**Circuit No**
**LEEDS NORTH AND EAST CIRCUIT**
**16-02**
## **Statement of Financial Activities (SOFA) for the year ended 31 August 2024 - NOTES (continued)**
|**Notes to the**
**accounts**
**8. Expenditure - Salaries and associated costs**
8.1 Gross wages, salaries, and benefits-in-kind
8.2 Employer's National Insurance costs
8.3 Employer's pension costs
**Total**|**General Fund**
**(Unrestric-ted)**
**Circuit Model**
**Trust**
**(Unrestric-ted)**
**Designated**
**Funds**
**(unrestric-ted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2023-24**
£
£
£
£
£
£
220,691
20,608
**241,299**
17,341
**17,341**
45,234
**45,234**
**283,266**
**-**
**-**
**20,608**
**-**
**303,874**|**Total**
**2022-23**
£
**243,411**
**17,744**
**46,916**
**308,071**|
|---|---|---|
|**9. Expenditure - Grants and donations**
9.1 Grants (Meeting Point - operating shortfall)
9.2 Grants (Meeting Point - assistant manager post)
9.3 Grants (Meeting Point - manager employer's NI)
9.4 Grants (WIFCOS)
9.5 Grants (Methodist Ministers Housing Society)
9.6 Grants (Leeds Citizens)
9.7 Grants (Leeds Methodist Extension Society)
9.8 Grants (University Chaplaincy)
9.9 Grants (WYDAN)
9.10 Grants (other)
**Total**
**10. Expenditure - Office expenses**
10.1 Travel
10.2 Telephones and internet (Circuit Office, Meeting Point)
10.3 Telephones and internet (ministers and lay staff)
10.4 Photocopying (net of recoveries)
10.5 Postage, stationery, and other
10.6 Council Tax
10.7 Insurance
10.8 Water
10.9 Other
**Total**|-
**0**
-
**0**
3,229
**3,229**
2,665
**2,665**
80
**80**
-
**0**
-
**0**
10,000
**10,000**
2,000
**2,000**
70
**70**
**18,044**
**-**
**-**
**-**
**-**
**18,044**
10,918
**10,918**
2,317
743
**3,060**
9,634
**9,634**
-
**0**
6,742
**6,742**
13,615
**13,615**
5,999
**5,999**
4,561
**4,561**
13,436
1,457
**14,893**
**67,222**
**1,457**
**-**
**743**
**-**
**69,422**|**0**
**0**
**1,793**
**0**
**1,640**
**2,000**
**0**
**0**
**2,000**
**4,605**
**12,038**|
|---|---|---|
|||**7,511**
**2,154**
**8,616**
**658**
**6,334**
**12,956**
**5,485**
**2,673**
**12,443**
**58,830**|
**Circuit No**
**LEEDS NORTH AND EAST CIRCUIT**
**16-02**
## **Statement of Financial Activities (SOFA) for the year ended 31 August 2024 - NOTES (continued)**
|**Notes to the**
**accounts**
**11. Expenditure - Other outgoings**
11.1 Lecturer allowance (Cliff College)
11.2 Assessments paid - ecumenical partnerships
11.3 Audit fees
11.4 Expenses relating to sold properties (churches)
11.5 Expenses relating to sold properties (manses)
11.6 Expenses relating to closed churches
11.7 Expenses related to aborted projects
11.8 Honoraria - supernumerary ministers
11.9 Other expenses (Meeting Point & Moortown)
**Total**
**12. Other gains / (losses)**
12.1 Net proceeds of trust properties sold (manses)
12.2 Revaluation of trust properties (manses, projects)
12.3 Less: Carrying amount of trust properties sold (manses)
**Total**|**General Fund**
**(Unrestric-ted)**
**Circuit Model**
**Trust**
**(Unrestric-ted)**
**Designated**
**Funds**
**(unrestric-ted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Total**
**2023-24**
£
£
£
£
£
£
1,692
**1,692**
11,367
**11,367**
5,056
**5,056**
-
**0**
-
**0**
10,679
**10,679**
-
**0**
1,097
**1,097**
43,854
**43,854**
**29,891**
**-**
**-**
**43,854**
**-**
**73,745**
-
**0**
68,121
149,536
**217,657**
-
-
**0**
**68,121**
**-**
**-**
**149,536**
**-**
**217,657**|**Total**
**2022-23**
£
**1,692**
**5,783**
**4,600**
**0**
**0**
**12,881**
**0**
**623**
**38,483**
**64,062**|
|---|---|---|
|||**0**
**358,213**
**0**
**358,213**|
## **13. District assessments and levy**
The District assessment is calculated relative to the proportion of church members and staffing (ordained staff only) of all Circuits in the Yorkshire West District. A further adjustment is made to take into account an agreed maximum increase / decrease for each Circuit relative to the previous year.
The District levy is calculated on a sliding scale percentage of the Circuit's Model Trust Fund balance with Trustees for Methodist Church Purposes as at 31 August of the previous year.
District assessments **87,438** District levy **29,603**
## **14. Payments to Trustees**
Payments made to Trustees for additional services provided to the Circuit by agreement with the Circuit Meeting Payments made to Trustees for reimbursement of expenses incurred on behalf of the Circuit Number of Trustees to whom expenses were paid
|**0**|**0**|
|---|---|
|**24,254**|**23,134**|
|**12**|**14**|
**Circuit No 16-02**
**LEEDS NORTH AND EAST CIRCUIT**
## **Balance Sheet as at 31 August 2024**
GN
|**Fixed Assets**|**Notes to the**
**Accounts**|**General Fund**
**(Unrestricted)**
£|**Circuit**
**Model Trusts**
**(Unrestricted)**
£|**Designated**
**Funds**
**(Unrestricted)**
£|**Restricted**
**Funds**
£|**Endowment**
**Funds**
£|**Totals**
**2023/24**
£|**Totals**
**2023/24**
£|**Totals**
**2023/24**
£|
|---|---|---|---|---|---|---|---|---|---|
|Circuit Manses & Equipment|15|3,030,931|||0||3,030,931|||
|Investmentproperties|16|0|||1,856,975|0|1,856,975|||
|Investments|-||||||0|||
|**_Total fixed assets_**||**3,030,931**|**0**|**0**|**1,856,975**|**0**|**4,887,906**|||
|**Current Assets**||||||||||
|Debtors|17|22,984|0|0|0|0|22,984|||
|Loans bythe Circuit|18|0|0|0|0|0|0|||
|Investments with TMCP|-|0|506,468|49,334|||555,802|||
|Central Finance Board Deposits|-|114,899|||43,132||158,031|||
|Cash at Bank and in hand|19|10,757|0|0|15,204|0|25,961|||
|**_Total current assets_**||**148,640**|**506,468**|**49,334**|**58,336**|**0**|**762,778**|||
|**Current liabilities**||||||||||
|Creditors (due in under 1 year)|20|104,525|0|0|0|0|104,525||100,313|
|Grantspayable within 2021-22|21|1,680|0|0|0|0|1,680||5,240|
|**_Total current liabilities_**||**106,205**|**0**|**0**|**0**|**0**|**106,205**||**105,553**|
|**_Net current assets/liabilities_**||**42,435**|**506,468**|**49,334**|**58,336**|**0**|**656,573**||**694,210**|
|||||||||||
|**_Total assets less current liabilities_**||**3,073,366**|**506,468**|**49,334**|**1,915,311**|**0**|**5,544,479**||**5,364,459**|
|||**0**
**0**
**3,073,366**
**506,468**
**49,334**
**1,915,311**
**0**
**5,544,479**||||||||
|**Long term liabilities (due after more than one**
**year)**||||||||||
|Grantspayable after 2021-22|||||||**0**||0|
|Loans to the Circuit|||||||**0**||0|
|||||||||||
|**_Net assets_**||**3,073,366**|**506,468**|**49,334**|**1,915,311**|**0**|**5,544,479**||**5,364,459**|
**Circuit No 16-02**
**LEEDS NORTH AND EAST CIRCUIT**
## **Balance Sheet as at 31 August 2024**
GN
**Circuit Designated General Fund Model Trusts Funds Restricted Endowment Totals Totals (Unrestricted) (Unrestricted) (Unrestricted) Funds Funds 2023/24 2022/23** £ £ £ £ £ £ £ ~~SEE~~
|||**Notes to the**
**Accounts**|**General Fund**
**(Unrestricted)**
£
~~SEE~~|**Circuit**
**Model Trusts**
**(Unrestricted)**
£
~~SEE~~|**Designated**
**Funds**
**(Unrestricted)**
**Restricted**
**Funds**
**Endowment**
**Funds**
**Totals**
**2023/24**
**Totals**
**2022/23**
£
£
£
£
£
~~SEEEEE~~|
|---|---|---|---|---|---|
||||~~SEE~~|~~SEE~~|~~SEEEEE~~|
||**Funds of the Circuit**|||||
|General Fund(Unrestricted)
Circuit Model Trust Fund (Unrestricted)
Designated Funds(Unrestricted)
**_Total Unrestricted Funds_**
Restricted Funds
Endowment Funds
**_Total Funds_**
~~=——~~|||3,073,366
**3,073,366**
0|506,468
**506,468**
0|3,073,366
3,058,496
506,468
511,368
49,334
49,334
49,334
**3,629,168**
**3,619,198**
**1,915,311**
1,915,311
**1,745,261**
**0**
0
**0**
**49,334**
**1,915,311**
**0**
**5,544,479**
**5,364,459**
0
1
1
0
Signed
~~=~~|
||||||Circuit Treasurer|
W
**Circuit No 16-02**
**LEEDS NORTH AND EAST CIRCUIT**
## **Balance Sheet as at 31 August 2024 - NOTES**
GN
## **15. Circuit manses and equipment**
15.1 120 Stainbeck Lane, Leeds West Yorkshire, LS7 3QS 15.2 16 Kingswood Gardens, Leeds West Yorkshire, LS8 2BT 15.3 7 Gledhow Park Road, Leeds West Yorkshire, LS7 4JX 15.4 52 Nursery Lane, Leeds West Yorkshire, LS17 7HW 15.5 2 Elmete Walk, Leeds West Yorkshire, LS8 2LB 15.6 11 Mercia Way, Leeds West Yorkshire, LS15 8UA 15.7 29 Station Fields, Garforth, Leeds West Yorkshire, LS25 1PS 15.8 8 Primrose Close, Leeds West Yorkshire, LS15 7RT **Total**
## **16. Investment properties**
16.1 409 Harehills Lane, Leeds West Yorkshire, LS9 6AP 16.2 Alderton Rise, Leeds West Yorkshire, LS17 5LH **Total**
## **17. Debtors**
17.1 Prepaid salaries 17.2 Other prepayments 17.3 Other debtors **Total**
## **18. Loans by the Circuit**
18.1 Yorkshire West District **Total**
## **19. Cash at bank and in hand**
19.1 Current account - CAF Bank
19.2 Current account - Barclays Bank
19.3 Current account - Yorkshire Bank / Virgin Money
19.4 Cash on hand
**Total**
|**Notes to the**
**Accounts**|**General Fund**
**(Unrestricted)**
£|**Circuit**
**Model Trusts**
**(Unrestricted)**
£|**Designated**
**Funds**
**(Unrestricted)**
£|**Restricted**
**Funds**
£|**Endowment**
**Funds**
£|**Totals**
**2023/24**
£|
|---|---|---|---|---|---|---|
**Circuit No 16-02**
**LEEDS NORTH AND EAST CIRCUIT**
## **Balance Sheet as at 31 August 2024 - NOTES (continued)**
GN
|**Notes to the**
**Accounts**
**20. Creditors (due in under 1 year)**
20.1 Church assessments received in advance
20.2 Grants received in advance
20.3 Other creditors
**Total**
**21. Grants payable within current year**
21.1 Meeting Point - operating shortfall
21.2 Meeting Point - assistant manager gross pay
21.3 Meeting Point - assistant manager employer's NI
21.4 WIFCOS
21.5 Methodist Ministers Housing Society
21.6 Leeds Mission
21.7 WYDAN
21.8 Other grants payable within current year
**Total**|**General Fund**
**(Unrestricted)**
£|**Circuit**
**Model Trusts**
**(Unrestricted)**
£|**Designated**
**Funds**
**(Unrestricted)**
£|**Restricted**
**Funds**
£|**Endowment**
**Funds**
£|**Totals**
**2023/24**
£|
|---|---|---|---|---|---|---|
**Circuit No**
**LEEDS NORTH AND EAST CIRCUIT**
**16-02**
## **Cash flow statement for the year ended 31 August 2024**
|||**2024**|**2023**|
|---|---|---|---|
|**Statement of cash flows**|**Note**|**£**|**£**|
|**Cash from operating activities**||||
|Net cash used in operatingactivities||**-116,084**|**-190,990**|
|**Cash flows from investing activities**||||
|Interest income||37,530|23,699|
|Rental income||51,262|36,375|
|Proceeds from the sale of investment property||-|-|
|**Net cash provided by investing activities**||**88,792**|**60,074**|
|**Cash flows from financing activities**||||
|New borrowing||0|0|
|Repayments of borrowing||12,433|0|
|**Net cash used in financing activities**||**12,433**|**0**|
|**Change in cash and cash equivalents in the reporting period**||-14,859|-130,916|
|Cash and cash equivalents at the beginning of the reporting period||754,653|885,569|
|**Cash and cash equivalents at the end of the reporting period**||**739,794**|**754,653**|
**Circuit No 16-02**
**LEEDS NORTH AND EAST CIRCUIT**
## **Cash flow statement for the year ended 31 August 2024 (Continued)**
|||**2024**||**2023**|
|---|---|---|---|---|
|**Reconciliation of net income to net cash flow from operating activities**||**£**||**£**|
|Net income for the reporting period (as per statement of financial activities)||180,019||245,979|
|**Adjustments for:**|||||
|Interest & rental income|-|88,792
||-60,074|
|Profit on the sale of investment property||-||-|
|Gains on investments|-|217,657
|-|358,213
|
|(increase)/decrease in debtors||9,694||-9,425|
|increase/(decrease) in creditors||652||-9,257|
|**Net cash used in operating activities**||**-116,084**||**-190,990**|
|||**2024**||**2023**|
|**Analysis of cash and cash equivalent**||**£**||**£**|
|Cash in hand||739,794||754,653|
|Short term deposit (less than 3 months)||0||0|
|**Total cash and cash equivalents**||**739,794**||**754,653**|
|||0||0|
Independent Auditorfs Report to the Tru5tee5 of Leeds North and East Methodist Circuit
Opinion
We have audited the financial statements of Leeds North and East Methodist Circuit {the 'charitVI for the year ended 31,
August 2024 which comprise of Statement of Financial Activities, the Statement of Financial position and notes to the
financial statements, including a summary of Signif icant accounting policies. The financial reporting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 102 The Finonciol Reporting Stondord applicoble in the UK and Republic of Ireland (United Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charily's affairs as at 31" August 2024, and of its incoming resources and
application of resources, including its income and expenditure, 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 condurted our audit in accordance with International Standards on Auditing IUKI IISAS {UK}l and applicable law. Our
responsibilities under those standards are further described in the Auditorfs 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 a nd appropriate to provide a basis for our opinion.
Conclusions relating to going concern
I n 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
trustees, annual report, other than the financial statements and our auditor's report 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 f inancial statements, or our knowledge
obtained in the audit or othei wise appears to be rriateriahly misstated. If we identi
)uch material inconsistencies or
a pparent material misstatements, we are requ ired to determine whether there is a material misstatement in the f inancial
statements or a material mi5Staternent of the other information. 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 in relation to which the Charities (Account5 and Reports)
Regulations 2008 require us to report to you if, in our opinion-
the information given in the financial statements is inconsistent in any material respect with the trustees, report; or
the charity has not kept adequate accounting records; 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 trustees, responsibilities statement set out on pages 2 to 7, the trustees are responsible
for the preparation of the financial statements and for being satisfied that they 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 charitws ability to continue as a 80ing
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.
Auditorfs responsibilities for the audit of the financial statements
We have been appointed as auditor 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 an auditorfs report that includes our opinion.
Reasonable assu ra nce 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 f raud or error and are
considered material if, individua Ily or in the aggregate, they could reasonably be expected to inf luence the economic
decisions of users taken on the basis of these financial statements.
The extent to which ou r procedures are capable of detecting irregula rities. including f raud is detailed below:
Irregularities, including fraud. are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilitie5. Outlined above. to detect material misstatements in respect of irregularities, including fraud.
Our approach to identifying and assessing the risks of material misstatement in respect of irregu13rities, including fraud
and non-compliance with laws and regulations, was as follows:
The engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regu lations.
We identified the laws and regulations applicable to the charity through di5CUSsions with management, and from our
commercial knowledge of the sector.
We focused on specific laws and regulations which we considered may have a direct material effect on the accounts
of the operation5 of the Charityi including the Charities Act 2011.
We assess the extent of compliance with laws and regulations identified above through making enquiries of
management.
Identified laws and regulations were communicated within the audit team regularly and the team remained alert to
instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement. including obtaining an
understanding of how fraud might occur, bv:
Making enquiries of m2nJgempnt as to where they considered there was susceptibility to fraud, their"knowledge of
actual, suspected and alleged fraud.
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we=
Performed analytical procedure5 to identify any unusual or unexpected relationships.
Identified and tested journal entries and identified any significant transactions that were unusual or outside the
normal course of business.
Investigated the rationale behind significant or unusual transactions.
Challenged assumptions and judgements made by management in determining significant accounting estimates.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed audit procedures
which included, but were not limited to..
Agreeing financial statements disclosures to underlying supporting documentation.
Discussions with management of known or suspected instances of non-compliance with laws and regulations.
Reading the minutes of meetings of those charged with governance.
Reviewing any correspondence wrth relevant regulators including the Charities Commission.
At the completion stage of the audit. the engagement partner's review included ensuring the team had approached their
work with appropriate professional scepticism and thus the capacityto identify non-compliance with laws and regulations
and fraud.
There are inherent limitation5 in the audit procedures described above and the further removed non-compliance of laws
a nd regulations is from the events and transactions reflected in the financial statements, the less likely we would become
aware of wt.
Also, the risk of not detecting a material misstatement relating to fraud is higher than the risk of not detecting one
resulting from error. as fraud may involve deliberate concealment.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uk/auditorsresponsibilities.
Use of our report
Thi5 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 auditorfs 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.
Ihomo3 Ceon)bs LiThj&J
12*June 2025
Thomas Coombs Limited
Statutory Auditor
Chartered Accountants
3365 The Pentagon
Century Way
Thorpe Park
Leeds
West Yorkshire
L515 8ZB
Leeds North and East Circuit
DECLARATIONS
Treasurer
I confirm that these accwal-based accounts for the year ended 31 August 2023 have been prepared
from the records of the Circuit and that they include all funds under the control of the Circuit Meeting.
Signature of
Treasurer
Date
3 June 2025
Name of Treasurer
Revd Steven Jones
Address
37 Fletchers Way. Allerton Bywaler. Castleford VVF10 2FL
Presentation to the Circuit Meeting for approval.
I confirm that the annual report and accounts for the year ended 31 Aug 2024 weF&,
OF will be" presented to the Circuit Meeting at its meeting on
24 June
2025
and were approved.
Signature of the
Chair of the meeting
Name of the Chair
of the meeting
Revd George Bailey
Date
3 June 2025