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← Wharfedale & Aireborough Methodist Church Circuit

2024-08-31-accounts

Trustees’ Annual Report and Accounts for the year ended 31[st] August 2024

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Introduction

The Trustees of the Wharfedale & Aireborough Circuit of the Methodist Church are pleased to present their Report for the year ended 31[st] August 2024.

Review of the Year

The Circuit Meeting was held on 4 occasions during the year and the Circuit Leadership Team met on 6 occasions. A focus throughout the year has continued to be the “Planning for Growth” document which has resulted in further conversations to determine the most appropriate way forward for the Circuit and the church congregations. The emphasis is on 3 key themes of being Transformational, Missional & Sustainable, which recognise the scarcity of resources – financial and human – and the need to ensure the number of Trustee Bodies and buildings is relevant to the present age. Whilst progress has been made towards identifying a multi-site church solution, the practicalities of moving from the current structure and acceptance by all churches have yet to be tested. One element of this process is for individual buildings to contribute to the Methodist Church’s “Net Zero” target by 2030; a number of churches have already obtained Eco Awards and the aim is for the Circuit also to gain such an award. 4 of our manses have had solar panels, storage batteries and electric vehicle charging points fitted; the fifth property is unsuitable for solar provision.

We have still not seen a full return of former worshippers following the Covid pandemic and this has impacted in lower attendances at both ends of the age scale. The annual statistics of church membership has shown a continuing decline and this will have implications for future ministerial staffing levels. There has also been a reduction in the number of Local Preachers, resulting in a greater number of “Local Arrangement” services. We are grateful to both our Local Preachers and our active supernumerary ministers for their continuing faithful service to the circuit. Whilst many face to face meetings now take place we still take advantage of Zoom, particularly during the winter months, to reduce the need to travel. The Circuit Ministerial Team comprised 5 full time Presbyters and in preparation for changes at Superintendent Minister level Rev Cameron Stirk took on pastoral charge of the Menston congregation. Of the 5 Circuit Lay roles, two became vacant with the resignation of Samantha Price in November 2023; a Family Worker was recruited in April 2024 and a Debt Centre Manager, employed by the Circuit on behalf of Christians Against Poverty started in June 2024. There are currently 3 Circuit Stewards, one acting as Circuit Treasurer and another taking the lead on property issues, but the lack of volunteers to take on these roles is a cause of great concern.

Hawksworth is currently a class of the church at Burley in Wharfedale and the congregation at Norwood a class of Otley. The building at Norwood also acts as a Retreat Centre in an attractive part of the Circuit; this has its own management team, with the finances currently being under circuit control.

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The number of young people attending regular church services is generally low, but the lay workers at three of our churches work together to provide opportunities for young people to meet together and test their faith. A circuit wide holiday club took place in August 2024, meeting at different locations. The church at Burley in Wharfedale has purchased a mobile catering unit to be used as a pizza outlet to provide a meeting place for youngsters. Other less traditional offerings are Forest Church and Breathe, which are attracting people from across the circuit. Throughout the year, usually coinciding with festival time, zoom study groups have been on offer and well received; there have also been retreats at Norwood.

The Methodist Church is committed to safeguarding as an integral part of its life and ministry. Safeguarding is about the action the Church takes to promote a safer culture. This means we will:

Those people across the Circuit whose roles require it must undertake Safeguarding Training at Foundation and / or Advanced level. It is also mandatory that, where required, EDI (Equality, Diversity and Inclusion) Training is undertaken.

The sale of the former manse at Newall Hall Park, Otley was finally completed in May 2024, contributing £179,562.40 to the Connexional Priority Fund through the levy taken on such sales; with the balance of £331,443.60, after sales costs and the levy, being received into the Circuit Model Trust Fund. An offer to buy the church premises at Otley by a newly formed Community Group has been accepted in principle and they are now in the process of raising the necessary funds; should they be successful the property will be converted into a community hub – with worship space. The church building at Addingham is currently being marketed and has to be offered for community use before it can go onto the open market.

From September 2024 our Superintendent Minister, Rev Tim Perkins, will fulfil the same role for the Skipton & Grassington Circuit, spending 70% of his time in the Wharfedale & Aireborough Circuit, where he will continue to have pastoral charge of the church at Burley in Wharfedale, and 30% in the Skipton & Grassington Circuit. Two of our ministers will leave the Circuit in 2025 and another has requested a reduction in the number of hours offered; the process of seeking replacements has begun, with the minister at Christchurch, Ilkley due to be replaced by a URC minister. A key activity across the whole of the Circuit during the coming year will be identifying, and hopefully, implementing new structures that reduce the number of Trustee bodies and bring individual congregations into multi-site church units. This is in recognition that resources are too thinly stretched and the continuing shortfall in the number of ministers to fill vacancies requires radical action.

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The Circuit’s Funds:

The Circuit operates 4 unrestricted and 6 restricted separate, open funds within its Accounts. The purpose of each Fund is summarised below:

The General Fund deals with all the day-to-day expenditure of the Circuit; primarily it meets the cost of the presbyters and employees of the Circuit, contributes to District and Connexion costs and meets the cost of running and maintaining the manses; to pay for these costs the Circuit raises Assessments on each Church in the Circuit with the intention to raise just sufficient income to cover the budgeted expenditure.

The Circuit Model Trust Fund exists to meet the need for major expenditure on Circuit property or to meet Circuit or church projects, all of which require the ultimate approval of the Trustees for Methodist Church Purposes (“TMCP”). The Fund was boosted by receiving the proceeds of sale, after the deduction of sales costs and the Connexional Priority Fund levy, from the former manse at Newall Hall park, Otley. As a result, the cash held in the Fund increased from £648,969 during the year. The annual levy to the Yorkshire West District (taken on 1[st] September) was £39.9K and when future commitments were taken into account the available funds were £586k. Grants of £10.15k were made to churches for lay employment projects, £50.8k was spent on the provision of solar panels at 4 manses, £6k was spent on gutter replacement at the Burley Manse, £10k was transferred to the general Fund to meet some of the costs incurred during the lengthy sales process for the old Otley Manse and £21k covered the costs of two part-time lay employees.

There are six Restricted Funds , four of which were created many years ago, and have small balances carried forward from one year to the next, although these will be closed as appropriate use is made of the balances still being held.

The CAP Debt Centre Fund created in 2019 has been defined as restricted as monies donated for this purpose are ring fenced to be used to pay for the operation of a Christians Against Poverty (CAP) Debt Centre. The service being offered was on hold from November 2023 until July 2024 following the resignation of the former Debt Centre Manager; the successful recruitment of a replacement will see an upturn once again. Grants & donations of £16k were received with expenditure of £9.4k, made up of the costs of employing a part-time Debt Centre Manager, a monthly fee payable to CAP and small grants to clients. During the period there was no Debt Centre Manager a nominal £100 per month was paid to CAP; this has now increased to £450 per month to reflect the increased activity. The fund increased by £6,627 to £8,812 during the year and so there is a sound base going into the new financial year.

The Fund for the Norwood Chapel and Retreat Centre was created in 2014 when the funds of the Norwood Church were transferred to the Circuit and the congregation became a class of Otley Church. A decision was made at the Circuit Meeting in February 2018 to continue worship at Norwood and maintain a meeting facility. To support the upkeep of the building and running costs, Norwood cottage is let at a commercial rent under an

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Assured Short-Term Tenancy and further income is generated from organisations hiring the Retreat Centre. The fund increased by under £4.4k during the year to £22.3k, although work is planned that will take up this additional surplus.

The value of all of the Restricted Funds as at 31[st] August 2024 was £35k, an increase of £10.5k.

In addition to the Circuit Model Trust Fund , there are 2 more unrestricted funds which are treated as Designated Funds and recorded separately. These are:

The Property Fund was established in 2011 and exists to deal with the uneven incidence of maintenance and repair costs at the Circuit’s 5 manses. This is currently being maintained at £12,500 - £2,500 per manse. The sale of the former manse at 6 Newall Hall Park, Otley was prolonged, resulting in additional costs of maintaining and insuring an empty property for almost two years; we were able to recover some of these costs from the Circuit Model Trust Fund without impacting the Property Fund.

The Beamsley Fund was created in 2010 when the surplus funds of the Beamsley Chapel were transferred to the Circuit following the closure of the chapel. Since that time the Fund has been augmented by rents received from the tenants at the chapel. The overdue review of the rent has been concluded with an increase from September 2024 reflecting the movement in the Consumer Prices Index (CPI) since 2016; the next increase, on the same basis, will take place in September 2026. Provision had been made to transfer £4,000 to the General Fund, but in the event this was not needed; as a result the balance on this fund increased by £5.7k to £30.3k.

In Aggregate the Circuit’s total Funds as at 31[st] August 2024, including the value of 5 manses, a burial ground and the Beamsley Centre, stood at £3,080k, an increase of £32k over the year.

Plans for 2024/2025

At the time the Budget for the current year (2024/25) was prepared it was envisaged that there would be 4.7 ministers, with the Superintendent offering 0.3 to the Skipton & Grassington Circuit, and 5 part-time lay employees supporting administration (37 hours per week), communications (10 hours per week), CAP Debt Centre (16 hours per week), an Activities Organiser (15 hours a week each) and a Children’s/Family Worker (15 hours a week) - the equivalent of 2.5 full time employees. Account was taken of known stipend and salary increases for 2024/25 and the known change in District and Connexion costs; sensible estimates were made about all other Circuit costs. It was agreed the cost of the Activities Organiser and Children’s/Family Worker should be covered from the Circuit Model Trust Fund.

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The assessment calculation using our previously agreed format for the offering to be made by each church had become unsustainable following past restrictions during and after the Covid pandemic which had caused calculated requirements to be significantly different from current giving in a number of cases. Looking ahead, the situation is more uncertain with the likely stationing of a URC Minister at Christchurch, Ilkley and the changes in funding by that church to the Methodists and URC; this resulted in a call to churches to make freewill offerings for 2024-2025 based on the needs of the Circuit and their ability to pay. With the news of a reduction in the Circuit contribution to the Methodist Ministers’ Pension Scheme from 1[st] September the freewill offerings enabled us to cover our budget with a £357 surplus!

The four significant tasks being faced for 2024-2025 are:

There are ongoing concerns about the number of Local Preachers, Circuit Stewards and volunteers for other key roles in the running of the Circuit. The Circuit will continue to provide support through provision of both resources and training for local churches to be able to offer appropriate services of worship when preachers are not available. We will continue to seek suitable volunteers for other roles or look for alternative means of ensuring we meet all of our legal and regulatory obligations. We continue to be grateful to a number of active supernumerary ministers who take a significant number of services each quarter.

The church employed Youth & Family Workers have formed an effective team and by working together across the Circuit they are making an impact in our engagement with young people at times other than normal Sunday services. There are other exciting initiatives in the pipeline to reach the young people where they feel most comfortable. It is our aim to establish a Circuit Youth & Children’s Team to improve collaboration and support for youth and children across the circuit.

The Circuit Leadership Team continue to work on renewing our Circuit Mission Statement around the themes of “Transformational, Sustainable, Missional,” and look at the Connexional Oversight and Trusteeship Report in order to identify the minimum number of Trustees’ bodies necessary

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for the Circuit and its churches to flourish. We will be consulting with churches with a view to implementing agreed plans for multi-site churches from September 2025.

It is hoped the church premises in Otley will be sold during the coming year to a local Community Group which is fund raising to buy and refurbish the building. The Circuit will continue to support the congregation as it moves to the next stage of its mission in this market town. We will also support the congregation at Addingham as they move to a new phase following the decision to sell their existing building. The situation at Otley provides the opportunity to consider a New Places for New People project in the town and this will be actively explored.

We will continue to investigate how best to manage the Greenhills Burial Ground in a way that minimises the ongoing cost for the circuit and causes the least amount of nuisance to neighbouring properties.

Basis of preparation and legal framework

The Charity’s annual report and accounts for the year ended 31[st] August 2024 have been prepared 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 Ireland (FRS 102) (effective from 1 January 2015) – (Charities SORP (FRS (102)).

Full name of Charity The Wharfedale & Aireborough Methodist Circuit
Registered Charity Number 1132357
Date of registration 2011
Main communication address Circuit Office
39 Main Street, Menston, ILKLEY, LS29 6NB.

Circuit Ministers and Officers

Active Circuit Ministers

Rev. Shannon DeLaureal Rev. Timothy Perkins Rev. Roger Smith Rev Cameron Stirk Rev. Dr. Roberta Topham

As Superintendent Minister, the Reverend Timothy Perkins acted as chair of the Circuit Meeting.

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Circuit Employees

During the year, the Circuit employed Mrs Juliana Caukwell as a full time Circuit Administrator, Mr Michael Fawcett as a part-time Circuit Communications Officer, Mrs Samantha Price, part-time Circuit CAP Debt Centre Manager and Activities Organiser until 5[th] November 2023, Mrs Hester Ayling as a part-time Children’s Worker from 15[th] April 2024, Mr Michael Dodd as the part-time CAP Debt Centre Manager from 4[th] June 2024 and Mrs Jean Snaith (formerly Fletcher) as a part time Activities Organiser.

Circuit Stewards

The Circuit Stewards in office in the year ended 31[st] August 2024 were as follows:

Mrs Hilary Murden Mr Richard Lowe Mr Alan Sheath Mrs Margo Atkinson – Finished 31[st] December 2023

The Members of the Wharfedale & Aireborough Methodist Circuit meeting are the Charity Trustees, membership being made up of Circuit office holders, ministers and representatives appointed by local churches.

Trustees:

Superintendent Minister / Chair Rev Timothy M Perkins Trustees: Mr Joost Aarste Tuyn Rev Rita Armitage Mrs Margo Atkinson Finished 31[st] December 2023 Mr George Auterson Mr Peter Bastow Mrs Joan Bosomworth Mr David Brown Mr Ken Brown Mr John Burland Mrs Juliana Caukwell Deacon Elizabeth Day Finished 31[st] August 2024

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Rev Shannon DeLaureal Miss Marjorie Emsley Mr Michael Fawcett Ms Margaret Fielding Mr David Gouldesbrough Mrs Sue Gray Mrs Penny Gwilt Rev David Halstead From 1[st] September 2024 Mrs Elizabeth Hoyle Mrs Lindsey Hurst Mr Steve Jennings Mr Richard Lowe Mrs Gillian MacIntosh Mrs Debbie Mashiter Mr Neil Mofoot Mrs Sarah Morrish Mr Thomas Morrish From 22[[nd]] November 2024 Mrs Hilary Murden Mrs Carol Newton Mr Michael Noble Mrs Judith Nordby Mrs Angela Pearson Mrs Vivien Pitts Mr Alan Pratt Rev Keith Reed Finished 22[[nd]] Mrs Marion Rider Mr Andrew Robson Finished 31[[st]] March 2024 Mr Alan Sheath Mrs Pam Smith Rev Roger Smith Mr Chris Solomon Rev M Cameron Stirk Mr Norman Sykes

From 22[[nd]] November 2024

Finished 22[[nd]] November 2024 Finished 31[[st]] March 2024

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Mrs Pauline Tate From 1[st] April 2024 Mr John Tattersall Mrs Janet Thompson Rev Roberta Topham Mr Jon Walker From 1[st] September 2023 Rev Wendy Walker From 22[nd] November 2024 Ms Susan Ward From 1[st] September 2023

The Independent Examiner is Archie McDowall BA CA, Stewardship Services (UKET), 1, Lamb’s Passage, London EC1Y 8AB

The Circuit’s Investment Bankers are the Central Finance Board of the Methodist Church and Trustees for Methodist Church purposes

The Circuit’s bank account is held at CAF Bank Ltd.

Aims and Organisation

The Charity’s objective is to act as a resource provider for the Methodist Church within an area north west of Leeds between Rawdon and Guiseley to the south, Pool-in-Wharfedale to the east, Norwood to the north, and Ilkley and Addingham to the west.

The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:

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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, as follows:

Rev. Timothy Perkins

Rev. Shannon DeLaureal Rev. Roger Smith Rev. Roberta Topham Rev. Cameron Stirk Juliana Caukwell Mike Fawcett

==> picture [70 x 38] intentionally omitted <==

Trustee Training

A range of guidance produced by the Methodist Connexion to support the effective running of the Circuit specifically the leaflet “The Five Golden Rules of being a Trustee” has been given to all Circuit Meeting members.

Related Parties

The Circuit is part of the Yorkshire West District and is also accountable to the Methodist Conference.

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The following Methodist Churches are linked to the Circuit.

Addingham Methodist Church Ben Rhydding Methodist Church Bramhope Methodist Church Burley-in-Wharfedale Methodist Church Guiseley Methodist Church Hawksworth Methodist Church (A Class of Burley in Wharfedale) Christchurch Ilkley LEP Menston Methodist Church Norwood Chapel and day retreat centre (A Class of Otley) Otley Methodist Church Pool-in-Wharfedale Methodist Church Yeadon Methodist Church

Christchurch Ilkley operates as part of a Local Ecumenical Partnership (“LEP”), involving Methodists and the United Reformed Church.

Risk Management

The major risks have been identified and recorded by the Circuit Finance and Property Committees with professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and expenditure are being monitored in total and compared with the approved annual Budget on a quarterly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves. The Circuit also monitors the finances of local churches to ensure their ability to pay the Circuit Assessment. Whilst the church at Otley is currently paying a reduced assessment until its future becomes clearer, the total funding offered for 2024-2025 is that required for a balanced budget. The Circuit Model Trust fund (CMTF) enables agreed spend on missional and property projects across the Circuit that cannot be covered from other financial resources.

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Safeguarding

Every person has a value and dignity which comes directly from the creation of male and female in God’s own image and likeness. Christians see this potential as fulfilled by God’s recreation 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

in all these principles we will follow legislation, guidance and recognised good practice

The Wharfedale & Aireborough Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy, Government legislation, guidance and safe practice in the Circuit and in the Churches.

The Wharfedale & Aireborough Methodist 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

Circuit Reserves & Policy

As at 31[st] August 2024 Debtors & Prepayments were £20,612 and, additionally, the Circuit has made loans of £18,512 which may be repaid during the coming year if the sale of the Church buildings at Otley is completed. Creditors, including future commitments, at 31[st] August 2024 were £179k.

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The bulk of the income coming to the Circuit is from the Assessment placed on churches, which is agreed annually with Church Treasurers. This ensures a high degree of certainty going forward as it takes account of each church’s ability to pay. However, the Circuit considers it prudent to hold sufficient reserves to enable it to overcome any short notice financial crisis. Our main source of back up is the Circuit Model Trust Fund (CMTF), which at 31[st] August 2024 had a balance of £649k; however, there are future commitments of £90k, which include the annual contribution to the District, committed and accrued grants and other General Fund expenditure to be covered from the CMTF. The CMTF is managed on behalf of the Circuit by the Trustees for Methodist Church Purposes (TMCP), but is readily available subject to the recorded agreement of the Trustees (Circuit Meeting) for appropriate purposes. The Trustees seek to ensure there is sufficient money in the CMTF to meet all known future grant and Circuit funding commitments.

The value of the 6 Restricted Funds is £35k, the largest being the Fund for the Norwood Chapel and Retreat Centre at £22.3; these receive their funding from external sources.

In addition to the CMTF the Circuit has cash holdings with the CAF Bank (current account) and Central Finance Board of the Methodist Church (deposit account). There is a separate Manses’ Reserve Fund of £12,500 as at 31[st] August 2024 and the Circuit considers it suitably prudent to maintain sufficient Funds within its General Fund to pay 25% of the succeeding year's budgeted expenditure. The Circuit will hold cash reserves in its current account or deposit account at Central Finance Board (CFB) equivalent to 3 months' General Fund expenditure plus the fund balance of total Restricted Funds. Regular monitoring is required to ensure adherence to policy and if necessary, to put into place a plan to augment the Circuit’s funds.

Reserves Test as at 31[st] August 2024

Required:

25% of General Fund Expenditure Budget 2024/2025
Total Restricted Funds Value
Total Cash at Bank & CFB 31/8/2024
(Deficit)/ Surplus		 £
110,530
34,997
145,527
170,087
24,560

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Responsibilities of trustees under charity law

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any

material departures disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to

  2. presume that the charity will continue in operation.

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

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Declarations and Scrutiny

I confirm that these accruals-based accounts for the year to 31 August 2024 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:

Name and address of treasurer Richard F Lowe

3 The Robins, Burley-in-Wharfedale Post Code…LS29 7PR

Presentation to the Circuit meeting

I confirm that the annual report and accounts for the year ended 31 August 2024 were presented to the Circuit meeting held on 12[th] March 2025

Signature of the Chair of the meeting

………………………………………………………………

Name of the Chair of the meeting

Rev Timothy Perkins Date

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INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 August 2024 on pages 18 to 48 following, which have been prepared on the basis of the accounting policies set out on pages 23 to 28.

Responsibilities and basis of report

As the charity’s trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

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

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants of Scotland, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

  1. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

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

Archie McDowall BA CA Institute of Chartered Accountants of Scotland Stewardship 1 Lamb's Passage London EC1Y 8AB

Date:

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
6
Total income and endowments
EXPENDITURE ON:
Charitable activities
7
Other
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
16
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
16		 Unrestricted
Funds
£
1,140
403,726
33,942
261,006
699,813
682,173
-
682,173
108
17,748
2,804
20,552
3,024,415
3,044,967		 Restricted
Funds
£
18,214
-
13,414
-
31,628
18,296
-
18,296
-
13,333
(2,804)
10,529
24,468
34,997		 Total
Funds
2024
£
19,354
403,726
47,356
261,006
731,441
700,469
-
700,469
108
31,080
-
31,080
3,048,883
3,079,963		 Total
Funds
2023
£
25,782
375,653
38,358
-
439,792
583,839
1,496
585,335
(62)
(145,604)
-
(145,604)
3,194,487
3,048,883

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 23-47 form part of these accounts.

Page 1

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

BALANCE SHEET

AS AT 31 AUGUST 2024

FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Investments Cash at bank and in hand

CREDITORS: Amounts falling due within one year Net current assets / (liabilities)

TOTAL NET ASSETS

Note
10
11
12
13
14		 Unrestricted
Funds
£
2,400,911
2,400,911
38,454
648,969
134,919
822,342
(178,286)
644,056
3,044,967		 Restricted
Funds
£
-
-
670
-
35,168
35,838
(841)
34,997
34,997		 Total
Funds
2024
£
2,400,911
2,400,911
39,124
648,969
170,087
858,180
(179,127)
679,053
3,079,964		 Total
Funds
2023
£
2,606,461
2,606,461
38,100
421,210
147,979
607,290
(164,867)
442,422
3,048,883

Page 1

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2024

Note
FUND BALANCES
16
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
2,415,672
629,295
3,044,967
-
3,044,967		 Restricted
Funds
£
-
-
-
34,997
34,997		 Total
Funds
2024
£
2,415,672
629,295
3,044,967
34,997
3,079,964		 Total
Funds
2023
£
2,615,259
409,156
3,024,415
24,468
3,048,883

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

--------------------------------------REV. TIMOTHY PERKINS Date: _______ Charity number: 1132357

The notes on page 23-47 form part of these accounts.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

FOR THE YEAR ENDED 31 AUGUST 2024

CASH FLOW STATEMENT

Cash flows from operating activities:
Net cash provided by/(used in) operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Proceeds from the sale of property, plant and equipment
Purchase of property, plant and equipment
Net cash provided by/(used in) investing activities
Analysis of changes in net debt:
Cash and cash equivalents
Total net funds / (debt)
Cash and equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Change in cash and equivalents in the reporting period		 Note
a
b
b
At start of
year
£
569,189
569,189		 2024
£
(257,695)
47,356
511,006
(50,800)
507,562
249,867
569,189
819,056
Cash-flows
£
249,867
249,867		 2023
£
(108,454)
38,358
-
-
38,358
(70,096)
639,285
569,189
At end of
year
£
819,055
819,055

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

FOR THE YEAR ENDED 31 AUGUST 2024

NOTES TO THE CASH FLOW STATEMENT

Note a: Reconciliation of net income/(expenditure) to net cash flow from operating activities

Adjustments for:
Depreciation charges and provisions for impairment
Dividends, interest and rents from investments
Loss/(profit) on the sale of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities
Note b: Analysis of cash and cash equivalents
Cash at bank with immediate access
Notice deposits (with a term of three months or less)
Current asset investments
Total cash and cash equivalents
Net income/(expenditure) for the reporting period (as per the statement of financial
activities)		 2024
£
31,080
6,350
(47,356)
(261,006)
(1,024)
14,260
(257,695)
2024
£
4,456
165,631
648,969
819,056		 2023
£
(145,604)
-
(38,358)
-
14,230
61,278
(108,454)
2023
£
7,871
140,108
421,210
569,189

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

1 Statutory Information

The charity is trust registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

2 Accounting Policies (continued)

a) Going concern

The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from Circuit Assessments on churches and other incidental activities.

Investment income represents income generated by the charity's assets and includes income from letting the charity's property and bank interest.

Other income comprises gains arising from the disposal of tangible fixed assets.

The charity has taken the view that it has only one charitable activity, namely the advancement of the Christian faith, and all income from donations, legacies and charitable activities is in respect of this one activity.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

2 Accounting Policies (continued)

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

The Charities SORP requires charities with income over £500,000 to allocate costs to the various activities undertaken by the charity. The nature of the work of the charity is considered to be so integrated that the core charitable activity costs are considered to be for the one activity.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

2 Accounting Policies (continued)

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects. Endowment funds are donations that are retained as capital in accordance with the donor's wishes. The nature of the restriction determines whether the endowments represent permanent endowments or expendable endowments.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not consumed by use) Freehold buildings Over 50 years after taking account of the building's residual value Property improvements Over 5 to 25 years after taking account of the improvement's residual value Leasehold improvements Over the lease term or, if shorter, expected useful life Equipment Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

2 Accounting Policies (continued)

The freehold property is shown in the accounts at 2019 deemed values, values were determined by reference to local estate agents in 2014, except where a later purchase was made, then purchase price is used. First time adoption of FRS 102 allows for values to be deemed as the values held 1 Sep 2015. No depreciation is provided on the building 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. The property has been reviewed for impairment.

f) Investments

Fixed asset investments are held to generate income and / or for their investment potential. Current asset investments are investments that are held specifically for sale or are investments that the charity expects to sell by the next balance sheet date. Investments, other than social investments (see below), are valued as follows:

Impairment losses and losses arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Expenditure on charitable activities'. Gains arising on the disposal of social investments are included in the Statement of Financial Activities under the heading 'Other income'. All other gains and losses on investment assets are included in the Statement of Financial Activities under the heading 'Net gains / (losses) on investments'.

g) Pension scheme arrangements

The Charity makes payments to the Methodist Ministers' Pension Scheme '(MMPS)' which is a defined benefit scheme operated by The Methodist Church. The Circuit accounts for contributions paid for by the ministers and the circuit as a defined contribution as no liability for past service sits with the circuit. A defined contribution pension scheme operates for the lay staff. All circuit contributions to the scheme are charged to the income and expenditure account in the period to which they relate.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

2 Accounting Policies (continued)

h) Taxation

The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

i) Financial instruments

The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

j) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

k) Critical accounting estimates and areas of judgement

The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations and legacies

Donations of cash and similar Grants

2024
£
5,538
13,816
19,354		 2023
£
5,786
19,996
25,782

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

4
Income from charitable activities
Assessments on Churches
Other income
5
Investment income
Property letting
Interest and dividends
6
Other income
Gains on disposal of:
tangible fixed assets		 2024
£
394,224
9,502
403,726
2024
£
19,574
27,782
47,356
2024
£
261,006
261,006		 2023
£
370,773
4,880
375,653
2023
£
18,773
19,585
38,358
2023
£
-
-

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

7 Charitable expenditure

a
Costs incurred directly on specific activities
Salaries, Employer's national insurance and pension contributions of presbyters and deacons
Telephone, utilities, travel and expenses of presbyters and deacons
Salaries, Employer's national insurance and pension contributions of lay workers
Expenses of lay workers
Mission and ministry
Property maintenance
Other property costs
District assessment
Connexional costs
Model trust levy
District advance fund
CAP project costs
Grants payable (note 7c)		 2024
£
202,535
15,421
67,963
2,280
3,120
32,975
35,071
15,434
69,054
179,562
39,923
4,386
667,723
10,150
677,873		 2023
£
187,544
15,307
69,904
2,192
-
48,421
36,794
11,985
67,719
-
51,807
9,456
501,129
59,197
560,326

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

7 Charitable expenditure (continued)

b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other
Printing, postage and stationery
Subscriptions and professional fees
Other administration expenses
Insurance
Miscellaneous expenses
Depreciation of tangible fixed assets
Total expenditure		 3,420
-
3,420
-
60
7,249
4,358
1,159
6,350
22,596
700,469		 3,500
4,800
8,300
1,070
1,810
7,407
4,232
694
-
23,513
583,839

The fee payable to the independent examiner for preparing and examining the accounts was £3,420 (2023: £3,500) for independent examination only). In addition, the charity paid Stewardship £nil during the year (2023: £4,800) for previously unaccrued independent examination work on prior years' accounts.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

7 Charitable expenditure (continued)

c Grants payable

Grants for UK and overseas mission
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
The charity's principal grants to institutions comprised:
Menston Methodist Church
Burley-in-Wharfedale Methodist Church
Christchurch Ilkley LEP
Acts 435		 Institutions
£
10,150
10,150
Institutions
£
59,197
59,197		 Individuals
£
-
-
Individuals
£
-
-
2024
£
-
-
9,750
400
10,150		 2024
£
10,150
10,150
2023
£
59,197
59,197
2023
£
10,500
15,000
31,422
2,275
59,197

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

8 Analysis of staff costs, the cost of key management personnel and trustee remuneration

Gross wages and salaries
Social security
Pension costs		 2024
£
210,203
18,939
41,356
270,497		 2023
£
191,961
16,381
37,889
246,231

The average monthly number of employees during the year was 9 (2023: 8). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

8 Analysis of staff costs, the cost of key management personnel and trustee remuneration (continued)

Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Rev Roger Smith (Presbyter)
29,040
-
7,812
Rev Timothy Perkins (Superintendent & Presbyter)
31,944
-
7,812
Rev Roberta Topham (Presbyter)
29,040
-
7,812
Rev Shannon DeLaureal (Presbyter)
29,040
-
7,812
Rev Cameron Stirk (Presbyter)
29,040
-
7,812
Juliana Caukwell (Circuit Administrator)
31,561
-
1,883
Michael Fawcett (Circuit Communications Officer)
7,030
-
-		 2024
£
36,852
39,756
36,852
36,852
36,852
33,443
7,030
227,637

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

8 Analysis of staff costs, the cost of key management personnel and trustee remuneration (continued)

The following amounts were payable in the previous year:

Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Rev Roger Smith (Presbyter)
26,928
-
7,244
Rev Timothy Perkins (Superintendent & Presbyter)
29,621
-
7,244
Rev Roberta Topham (Presbyter)
26,928
-
7,244
Rev Shannon DeLaureal (Presbyter)
26,928
-
7,244
Rev Cameron Stirk (Presbyter)
26,928
-
7,244
Juliana Caukwell (Circuit Administrator)
29,151
-
1,671
Michael Fawcett (Circuit Communications Officer)
6,591
-
-		 2023
£
34,172
36,864
34,172
34,172
34,172
30,822
6,591
210,964

All of the above named individuals received the above payments for serving in the stated capacities, not for serving as trustees; these payments are permitted by the charity's governing document.

In addition the charity incurred expenditure totalling £48,9638 (2023: £70,378) in respect of the customary provision of accommodation to Presbyters and Deacons, so that they could better perform their duties.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

9 Acting as agent

On occasion the charity receives money on behalf of other charities, which it banks and then pays out to these charities. This income is received as agent for these other charities and the income, and the related payments, are excluded from the Statement of Financial Activities; any money that has not been distributed by the year end is recognised as a creditor.

During the year the charity acted as agent for related Methodist charities and, in that capacity:

Page 3

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

10 Tangible fixed assets

Cost or valuation
At 1 September 2023
Additions
Disposals
At 31 August 2024
Accumulated depreciation
At 1 September 2023
Charge for the year
Eliminated on disposal
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023		 Freehold
Property
£
2,606,461
-
(250,000)
2,356,461
-
-
-
-
2,356,461
2,606,461		 Property
Improvements
£
-
50,800
-
50,800
-
6,350
-
6,350
44,450
-		 Total
2024
£
2,606,461
50,800
(250,000)
2,407,261
-
6,350
-
6,350
2,400,911
2,606,461

Page 3

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

10 Tangible fixed assets (continued)

At the beginning of the financial year, the Circuit owned 6 manses. All the manses then held were informally valued by reference to local estate agents as at 31st August 2014. The new Manses at Far Mead Croft and at St Oswald's Walk, Turner Lane Addingham and East Busk Lane acquired in 2014, 2015, 2018 and 2022 respectively are included at cost.

The freehold on residential property is shown at deemed historical cost representing each property's gross carrying value at 1 September 2015 per the transitioning relief allowed under first time adoption of FRS102.

The manse at Newall Hall Park was sold in June 2024 and a gain on the historic valuation is recognised in these financial statements.

The Beamsley Church has been included at a value reflecting its current use; its income is limited to a market agreed rent charged to the Beamsley Project charity. For insurance purposes it has a replacement cost value of £2,496,000.

11 Debtors

Falling due within one year:
Prepayments and accrued income
Falling due after one year
Loans
Total debtors		 2024
£
20,612
20,612
18,512
18,512
39,124		 2023
£
20,401
20,401
17,699
17,699
38,100

Page 3

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

12 Current asset investments

TMCP Holdings
13
Cash at Bank and in Hand
Cash at bank with immediate access
Central Finance Board Deposits
14
Creditors: liabilities falling due within one year
Trade creditors
Accruals
Deferred income
Grant obligations		 2024
£
648,969
648,969
2024
£
4,456
165,631
170,087
2024
£
1,429
54,532
99,916
23,250
179,127		 2023
£
421,210
421,210
2023
£
7,871
140,108
147,979
2023
£
2,770
36,541
98,556
27,000
164,867

Page 3

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

15 Pension commitments

Summary of pension contributions payable for year:

to the Methodist Ministers' Pension scheme (defined benefit)
to defined contribution pension schemes
Summary of pension liabilities at the year end:
The charity's pension liabilities at the end of the year were as follows:
in respect of defined benefit pension arrangements
in respect of defined contribution pension arrangements
The charity's pension contributions were as follows		 2024
£
39,059
2,297
41,356
2024
£
-
-
-		 2023
£
36,218
1,671
37,889
2023
£
-
-
-

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
The Circuit Model Trust Fund
The Property Fund
The Beamsley Fund
General Unrestricted Funds
Total Unrestricted Funds		 Opening
balance
2024
£
372,020
12,500
24,636
409,156
2,615,258
3,024,415		 Incoming
resources
2024
£
22,689
-
12,853
35,542
673,265
708,807		 Outgoing
resources
2024
£
(51,782)
-
(7,193)
(58,975)
(632,193)
(691,167)		 Transfers
in the year
2024
£
243,464
-
-
243,464
(240,660)
2,804		 Gains and
losses
2024
£
108
-
-
108
108		 Closing
balance
2024
£
586,499
12,500
30,296
629,295
2,415,671
3,044,967

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16 Funds (continued)

Restricted Funds
CAP Fund
The Norwood Chapel and Retreat Centre Fund
Other small restricted funds
Aggregate of funds		 2,185
17,893
4,390
24,468
3,048,883		 16,427
15,201
-
31,628
740,435		 (9,800)
(8,022)
(473)
(18,296)
(709,463)		 -
(2,804)
-
(2,804)
-		 -
-
-
-
108		 8,812
22,268
3,916
34,997
3,079,963

The transfers referred to above were made for the following reasons:

Transfers from the Circuit Model Trust Fund to cover the addition of solar panels for manses paid for from the General Fund. Transfers from the Circuit Model Trust Fund to the General Fund towards the funding of two activities organisers.

Transfers from the Circuit Model Trust Fund to the General Fund towards to cover costs pending the sale of the Otley church.

Transfer from the Norwood Chapel Fund to the General Fund to pay Circuit Assessments for the year.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16 Funds (continued)

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Unrestricted Funds

Tangible fixed assets
Debtors
Investments held as current assets
Cash at bank and in hand
Creditors falling due within one year		 General
funds
£
2,400,911
35,642
62,470
94,575
(177,926)
2,415,672		 Designated
funds
£
-
2,812
586,499
40,344
(360)
629,295		 Restricted
funds
£
-
670
-
35,168
(841)
34,997		 2024
£
2,400,911
39,124
648,969
170,087
(179,127)
3,079,964

Page 3

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16 Funds (continued)

In the previous year the movements in the charity's funds were as follows:

Designated Funds
The Circuit Model Trust Fund
The Property Fund
The Beamsley Fund
The Norwood Chapel and Retreat Centre Fund
General Unrestricted Funds
Total Unrestricted Funds		 Opening
balance
2023
£
503,526
28,884
24,803
11,704
568,917
2,617,933
3,186,850		 Incoming
resources
2023
£
16,533
146
11,900
-
28,579
375,613
404,192		 Outgoing
resources
2023
£
(111,363)
(33,222)
(4,067)
-
(148,652)
(408,498)
(557,150)		 Transfers
in the year
2023
£
(36,615)
16,693
(8,000)
(11,704)
(39,626)
30,210
(9,416)		 Gains and
losses
2023
£
(62)
-
-
-
(62)
-
(62)		 Closing
balance
2023
£
372,020
12,500
24,636
-
409,156
2,615,258
3,024,415

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16 Funds (continued)

Restricted Funds
CAP Fund
The Norwood Chapel and Retreat Centre Fund
Other small restricted funds
Aggregate of funds		 3,129
-
4,508
7,637
3,194,487		 21,500
13,901
200
35,600
439,792		 (22,444)
(5,423)
(318)
(28,185)
(585,335)		 -
9,416
-
9,416
-		 -
-
-
-
(62)		 2,185
17,893
4,390
24,468
3,048,883

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

16 Funds (continued)

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Tangible fixed assets
Debtors
Investments held as current assets
Cash at bank and in hand
Creditors falling due within one year
17
Capital commitments
Contracted for but not provided for by the balance sheet date
(because the related assets had not been delivered by the year-end)		 General
Designated
funds
funds
£
£
2,606,461
-
35,335
2,765
-
421,210
138,330
(14,819)
(164,867)
-
2,615,259
409,156
Unrestricted Funds		 Restricted
funds
£
-
-
-
24,468
-
24,468
2024
£
-		 2023
£
2,606,461
38,100
421,210
147,979
(164,867)
3,048,883
2023
£
50,600

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2024

18 Transactions with related parties

During the year the charity:

Except as disclosed in note 8 'Analysis of staff costs', there have been no other transactions with related parties during the year.

Page

WHARFEDALE & AIREBOROUGH METHODIST CHURCH CIRCUIT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 AUGUST 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
6
Total income and endowments
EXPENDITURE ON:
Charitable activities:
7
Other
Total Expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
16
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
16		 General
Designated
2024
2024
£
£
1,140
-
403,726
-
3,093
30,849
256,313
4,693
664,271
35,542
623,199
58,975
-
623,199
58,975
-
108
41,073
(23,325)
(240,660)
243,464
(199,587)
220,139
2,615,258
409,156
2,415,671
629,295
Unrestricted funds		 Restricted
2024
£
18,214
-
13,414
-
31,628
18,296
18,296
13,333
(2,804)
10,529
24,468
34,997		 Total
2024
£
19,354
403,726
47,356
261,006
731,441
700,469
-
700,469
108
31,080
-
31,080
3,048,883
3,079,963		 General
Designated
2023
2023
£
£
2,583
-
370,984
4,371
2,046
24,208
-
-
375,613
28,579
407,002
148,652
1,496
-
408,498
148,652
-
(62)
(32,885)
(120,135)
30,210
(39,626)
(2,675)
(159,761)
2,617,933
568,917
2,615,258
409,156
Unrestricted funds		 Restricted
2023
£
23,199
298
12,104
-
35,600
28,185
-
28,185
7,416
9,416
16,831
7,637
24,468		 Total
2023
£
25,782
375,653
38,358
-
439,792
583,839
1,496
585,335
(62)
(145,604)
-
(145,604)
3,194,487
3,048,883

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