**Charity registration number 1132844** **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 AUGUST 2023** ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Ministers** Rev J Park **Layworkers** Pastor - E Archer Siddall Governance Officer - D Ryan Lay Visitor - K Dunn Lay Visitor - E Whiteoak Childrens worker - G Perkins **Circuit stewards** D Ryan E Wainwright (resigned 31 August 2023) A Holmes G Hudson V Loveday J Hampshire A Andrews **Treasurer** D Ryan **Charity number** 1132844 **Registered office** Central Methodist Church Lodge Lane Aston Sheffield S26 2BP **Accountants** Hart Shaw LLP Europa Link Sheffield Business Park Sheffield S9 1XU ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 16| ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ The trustees present their annual report and financial statements for the year ended 31 August 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Deed of Union (1932) and Methodist Church Act (1976), the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). ## **Objectives and activities** Charity objective is to act as a Resource provider within the area around Rotherham 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 the discipline of The Methodist Church; (B) Any charitable purpose for the time being of any Connexional, District, circuit, local or other organisation of The Methodist Church; (C) Any charitable purpose for the time being of any society or institution 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 How the charity achieves its aims: - 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. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** The charity is the controlling body of the Methodist Church in the Rotherham and Dearne Valley area. We seek to promote the Christian Gospel of Hope through the life and teachings of Jesus Christ as contained in the Holy Bible. We do this in many ways but mainly through the operation of 11 Churches in this area. The beneficiaries of our work are many and through discussion at our circuit meeting we constantly seek new ways of spreading the Gospel. ## **Financial review** The charity is financially solvent and currently holds reserves in excess of Methodist requirements as laid down by conference. We are looking at how our reserves can be deployed in the future. Two new ministers have been appointed and they start 1 September 2023 for a minimum of 5 years. The charity are required to hold as reserves within the Methodist church 6 months annual expenditure as a minimum. There is no requirement to spend sums in excess of this. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. - 1 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **Structure, governance and management** The Rotherham And Dearne Valley Circuit is under the control of the circuit meeting in this area. The actions are outlined and discussed at our quarterly meeting. Reports are presented on a regular basis to explain our current situation. All financial documents are supplied to the Sheffield District which itself oversees a number of circuits in this area. The day to day running of the circuit is overseen by the Circuit leadership team who are the employed staff and a number of unpaid lay circuit stewards. The trustees who served during the year were: |Rev J Barrass|Rev J Park|A Andrews| |---|---|---| |L Broadhead|R Cauwood|M Collinson| |J Cook|P Drabble|K Dunn| |D Guy|A Hall|R Hambrey| |J Hampshire|S Hannam|K Hester| |L Hill|J Hindley|A Holmes| |C Houghton|G Hudson|R Hudson| |P Kenny|J Kilner|R Lindley| |V Loveday|F Lovell|G Lumb| |I Maw|M Mellars|B Millington| |M Moran|P Na|G Perkins| |G Pitt|D Ryan|C Sarjeant| |D Schofield|E Siddall|K Smallwood| |M Smith|D Styles|G Styles| |S Tanser|C Taylor|H Thickitt| |M Trehern|E Wainwright|I White| |F Wilson|A Wright|E Wright| All members of the circuit are appointed by the churches in the area of influence plus the paid staff employed by the circuit. ## **Transfers from restricted funds** With regard to the transfers from the restricted fund. The fund is only restricted in that application has to be made to the head office of the Methodist Church through the electronic consents system. If approval is given to a scheme then funds can be withdrawn. All monies into the restricted fund come from the sale of locally held Methodist land and property. The trustees' report was approved by the Board of Trustees. ## **David Ryan** Treasurer 3 May 2024 - 2 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** I report to the trustees on my examination of the financial statements of Rotherham and Dearne Valley Methodist Circuit (the charity) for the year ended 31 August 2023. ## **Responsibilities and basis of report** As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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 ICAEW, which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared financial statements in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. 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 that in any material respect: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements 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 financial statements to be reached. Natalie Bracey FCA Hart Shaw LLP Chartered Accountants Europa Link Sheffield Business Park Sheffield S9 1XU Dated: 20 May 2024 - 3 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ |**Unrestricted**
**Restricted**
**funds**
**funds**
**2023**
**2023**
**Notes**
**£**
**£**
**Income and endowments from:**
Charitable activities
**3**
180,269
173,783
Other trading activities
**4**
27,160
-
Investments
**5**
15,104
27,505
Other income
**6**
-
-
**Total income**
222,533
201,288
**Expenditure on:**
Charitable activities
**7**
347,079
-
Contributions to DAF
-
38,724
Other expenditure
**12**
-
1,947
**Total resources expended**
347,079
40,671
Net gains/(losses) on investments
**13**
-
(2,139)
**Net (outgoing)/incoming resources before**
**transfers**
(124,546)
158,478
Gross transfers between funds
91,554
(91,554)
**Net movement in funds**
(32,992)
66,924
Fund balances at 1 September 2022
1,024,242
683,359
**Fund balances at 31 August 2023**
991,250
750,283|**Total**
**2023**
**£**
354,052
27,160
42,609
-
423,821
347,079
38,724
1,947
387,750
(2,139)
33,932
-
33,932
1,707,601
1,741,533|**Total**
**2022**
**£**
175,175
34,560
5,563
2,236
217,534
349,861
33,662
5,218
388,741
(3,377)
(174,584)
-
(174,584)
1,882,185
1,707,601| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 4 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **BALANCE SHEET** ## _**AS AT 31 AUGUST 2023**_ |**Notes**
**Fixed assets**
Tangible assets
**15**
Investments
**16**
**Current assets**
Debtors
**17**
Investments
**18**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**19**
Net current assets
**Total assets less current liabilities**
**Income funds**
Restricted funds
**20**
Unrestricted funds|**2023**
**£**
**£**
438,975
48,244
487,219
73,706
33,000
1,201,169
1,307,875
(53,561)
1,254,314
1,741,533
750,283
991,250
1,741,533|**2022**
**£**
**£**
438,975
50,383
489,358
962
-
1,262,529
1,263,491
(45,248)
1,218,243
1,707,601
683,359
1,024,242
1,707,601|**2022**
**£**
**£**
438,975
50,383
489,358
962
-
1,262,529
1,263,491
(45,248)
1,218,243
1,707,601
683,359
1,024,242
1,707,601| |---|---|---|---| ||||489,358
1,218,243| ||||1,707,601| ||||683,359
1,024,242| ||||1,707,601| The accounts were approved by the Trustees on 3 May 2024 David Ryan **Treasurer** - 5 - **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **1 Accounting policies** ## **Charity information** Rotherham and Dearne Valley Methodist Circuit is a charity registered in England and Wales. The registered office is Central Methodist Church, Lodge Lane, Aston, Sheffield, S26 2BP. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's Deed of Union (1932) and Methodist Church Act (1976), the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by conference as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. ## **1.4 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 6 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **1 Accounting policies** **(Continued)** ## **1.5 Resources expended** Expenditure is recognised under the accruals basis. Specific expenditure on charitable activities is charged directly against the activity to which it relates as costs of raising funds or expenditure on charitable activities. Support and governance costs are charged against the charitable activity they support the most. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings Held at residual value The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.8 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.9 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.10 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. - 7 - **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.11 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.12 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 8 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **3 Charitable activities** |**2023**
**£**
Church collections
180,269
Church sales
173,783
354,052
Analysis by fund
Unrestricted funds
180,269
Restricted funds
173,783
354,052
**4**
**Other trading activities**
**2023**
**£**
Letting and licensing arrangements
27,160
Other income relates solely to unrestricted funds.
**5**
**Investments**
**Unrestricted**
**Restricted**
**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**funds**
**2023**
**2023**
**2023**
**2022**
**2022**
**£**
**£**
**£**
**£**
**£**
Interest receivable
15,104
27,505
42,609
1,676
3,887|**2022**
**£**
175,175
-| |---|---| ||175,175| ||175,175
-| ||175,175| ||**2022**
**£**
34,560| ||**Total**
**2022**
**£**
5,563| - 9 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **6 Other income** |**Unrestricted**
**funds**
**2023**
**£**
Church use for events
-
**Charitable activities**
**2023**
**£**
Staff costs
100,286
Methodist Church Fund
58,806
Telephone & travel
11,497
Insurance & utilities
12,658
Maintenance on manses
42,225
Expenditure on other properties
7,393
Donations
784
Other expenditure
24,596
258,245
Grant funding of activities (see note 8)
84,825
Share of support costs (see note 9)
4,009
347,079
**Analysis by fund**
Unrestricted funds
347,079
Restricted funds
-|**Total**
**2022**
**£**
2,236| |---|---| ||**2022**
**£**
152,795
58,806
12,185
14,119
2,159
73,170
2,651
28,278| ||344,163
-
5,698| ||349,861| ||338,495
11,366| **7 Charitable activities** **8 Grants payable** During the year one grant (2022 - none) was made to fund the Broom Church entrance. - 10 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **9 Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Administration
costs
4,009
-
4,009
-
Analysed between
Charitable
activities
4,009
-|**2023**
**£**
4,009
4,009
4,009|**2022**
**Basis of allocation**
**£**
5,698
Charitable activities
5,698
5,698| |---|---|---| ## **10 Trustees** During the year, 5 Trustees have been paid remuneration and had received other benefits from an employment with the Rotherham and Dearne Valley Circuit. The Trustees only received remuneration in respect of services they provide undertaking their roles under their contract of employment, and not in respect of their role as Trustees. The value of Trustees' remuneration and other benefits was as follows: |||**2023**|**2022**| |---|---|---|---| |||**£**|**£**| |Rev J Park|Remuneration|11,396|-| ||Pension contributions paid|-|-| |E Archer-Siddall|Remuneration|29,140|26,560| ||Pension contributions paid|1,688|1,593| |W Ashton|Remuneration|-|6,940| ||Pension contributions paid|-|416| |D Ryan|Remuneration|13,168|11,488| ||Pension contributions paid|730|689| |J Hood|Remuneration|-|17,110| ||Pension contributions paid|-|1,026| |Rev J Archer-Siddall|Remuneration|-|26,975| ||Pension contributions paid|-|6,398| |K Dunn|Remuneration|6,796|5,568| ||Pension contributions paid|-|-| |G Perkins|Remuneration|12,700|-| ||Pension contributions paid|-|-| During the period, 7 (2022: 8) Trustees received reimbursement of expenses. - 11 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **11 Employees** ## **Number of employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2023**
**Number**
6
**2023**
**£**
91,600
5,101
3,585
100,286|**2022**
**Number**
8| |---|---|---| |||**2022**
**£**
109,076
8,551
35,168| |||152,795| There were no employees who received total employee benefits (excluding employer pension contributions) of more than £60,000. ## **12 Other expenditure** |Net loss on disposal of tangible fixed assets
Administration of restricted fund
The loss in 2022 relates to the sale of a Manse.|**2023**
**£**
-
1,947|**2022**
**£**
5,218
-| |---|---|---| |||| ## **13 Gains and losses on investments** ||**Restricted**|**Restricted**| |---|---|---| ||**funds**|**funds**| ||**2023**|**2022**| |Gains/(losses) arising on:|**£**|**£**| |Revaluation of investments|(2,139)|(3,377)| ## **14 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 12 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **15 Tangible fixed assets** |**15**|**Tangible fixed assets**|| |---|---|---| |||**Freehold land and**| |||**buildings**| |||**£**| ||**Cost**|| ||At 1 September 2022|438,975| ||At 31 August 2023|438,975| ||**Carrying amount**|| ||At 31 August 2023|438,975| ||At 31 August 2022|438,975| |**16**|**Fixed asset investments**|| |||**Ward Bequest**| |||**£**| ||**Cost or valuation**|| ||At 1 September 2022|50,383| ||Valuation changes|(2,139)| ||At 31 August 2023|48,244| ||**Carrying amount**|| ||At 31 August 2023|48,244| ||At 31 August 2022|50,383| Other investments were subject to valuation by The Trustees for Methodist Church Purposes. The investment is revalued on an annual basis. |**17**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**18**
**Current asset investments**
Loans|**2023**
**£**
66,830
6,876
73,706
**2023**
**£**
33,000|**2022**
**£**
-
962| |---|---|---| |||962| |||**2022**
**£**
-| - 13 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 AUGUST 2023**_ |**19**
**Creditors: amounts falling due within one year**
Trade creditors
Accruals and deferred income|**2023**
**£**
4,201
49,360
53,561|**2022**
**£**
308
44,940| |---|---|---| |||45,248| - 14 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **20 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**Balance at**
**1 September**
**2021**
**r**
**£**
Circuit Advance
Fund
565,486
Ward Legacy c/o
Eastwood
53,761
619,247|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**Balance at**
**1 September**
**2022**
**r**
**£**
**£**
**£**
**£**
**£**
2,582
(50,092)
115,000
-
632,976
1,305
(154)
(1,152)
(3,377)
50,383
3,887
(50,246)
113,848
(3,377)
683,359|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**Balance at**
**31 August**
**2023**
**£**
**£**
**£**
**£**
**£**
199,802
(40,528)
(90,211)
-
702,039
1,486
(143)
(1,343)
(2,139)
48,244
201,288
(40,671)
(91,554)
(2,139)
750,283|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**Balance at**
**31 August**
**2023**
**£**
**£**
**£**
**£**
**£**
199,802
(40,528)
(90,211)
-
702,039
1,486
(143)
(1,343)
(2,139)
48,244
201,288
(40,671)
(91,554)
(2,139)
750,283| |---|---|---|---| ||||750,283| The Circuit Advance Fund holds the capital receipts from the sale of properties. The Ward Legacy is a trust fund which was set up to benefit a number of churches and circuits in the Sheffield District. Due to restrictions in the legacy only interest can be drawn from the fund each year. - 15 - ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2023**_ ## **21 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. |**At 1**
**September**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
General funds
1,024,242
222,533
(347,079)
**Previous year:**
**At 1**
**September**
**2021**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
General funds
1,262,938
213,647
(338,495)
**Analysis of net assets between funds**
**Unrestricted**
**fund**
**Restricted**
**fund**
**2023**
**2023**
**£**
**£**
Fund balances at 31 August 2023 are represented
by:
Tangible assets
438,975
-
Investments
-
48,244
Current assets/(liabilities)
552,275
702,039
991,250
750,283|**Transfers At 31 August**
**2023**
**£**
**£**
91,554
991,250
**Transfers At 31 August**
**2022**
**£**
**£**
(113,848)
1,024,242
**Total**
**Total**
**2023**
**2022**
**£**
**£**
438,975
438,975
48,244
50,383
1,254,314
1,218,243
1,741,533
1,707,601| |---|---| ||| ## **22 Analysis of net assets between funds** ## **23 Related party transactions** There were no disclosable related party transactions during the year (2022 - none). - 16 - Gh•rlty r•gl•tratlon numb•r 1132844 ROTHERHAM AND DEARNE VALLEYMEfHODI8T CIRCUIT ANNUAL REPORT AND UNAUDITED FINAMCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT LEGAL AND ADMINISTRATIVE INFORMATION Mlnl•t•rn Rev J Park Layworkern Pastor- E Archei Siddall Governance Offi¢er- D Ryan Lay Visitor- K Dunn Lay Msllor- E Whitooak Chlldrgn8 work•r- G Porkln8 Clrcult •tow•rd• D Ryan E W8Inwrfohl Ire81gned 31 Augu8120231 A Holme8 G Hudson V Loveday J Hampshlre AAndrowB Tr•i•uMr D Ryan Charfty nUM￿r 1132844 R•gl•t•r•d offl¢• Central Melhodlel Church Lodge Lan6 Aston Sheffleld S26 2BP Accountants Hart Shaw LLP EuropA Llnk Sheffleld Bu8lne$8 Park Sheffleld S9 1XU ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT CONTENTS Pag• Tru81ees' report Independent examlne¢8 ropc¥I sto18m8nt of fmanaal 8dvlUe8 Balance 8hegt Not￿ lo the fln8ncl818talernents 8-16 ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The trustee$ present th8ir 8nnual report anil ffin8ncial sla19m&n18 for the yeaT ended 31 August 2023. The Accounts ha￿ been prepared In ac£ordanc8 wlih the a¢￿untIng policies sèl out In note 110 Ihfr a￿UnIS and comply wllh Ihg ¢harily's Deed of Union 119321 and Melhodisl Church Act (19761. the Charitiès Act 2011 and "Accounting and R8porting by Charilie5'. Statement of Recommended Practic8 applicable to charits'89 prep8ring Ihelr accounts In accord8nce wllh tho Financial Reporting Standard appllcable In the UK and Rapublic of Irel8nd IFRS 1021. (as amended for 8txounling periods commencing from 1 January 20161. Obl•cttv•s and actlv51Jo8 Charity objgctiva18 lo act 85 a Re8ourcè prO￿der wllhln th8 area 8round Rotharham lor the Method161 Church. The purp08e8 of The Methodlsl Churcth are and sho11 be deemed lo have been slnce the Dale of Union th8 advancement of - IA) Tho Chrtsuan F4llh In accordanc• wllh the doctrlnal 81andard8 and th8 di$opllng of The M•thodl81 Church; IBI Any charllable purpos8 for th& tlme belng of any Gonnexk*nal. Dl8lrkt, drcull, local or olhgr organiBats'on of Thè Melhodlsl Church., {Cl Any charttable purpose for the ltrne belng of any 8oclety er Inslltullon 8ubsldlary Of on¢lll8ry lo The Melhodl61 Church.. IDI Any purpo8• forthe Ilme belng of 8ny ¢harfly belng a Che￿ty 8ubsldlgry or #ndllary lo thè MelhodlBI Churd) How the charity achieves Ils alms.. Th• or98nls8tion and ra6ourdn9 of rogular publlc acl$ ol wof8hlp open lo member8 of the church and non membgr8 alikg. The leachlng of Chrlsllanlty through 8ermon8, cours98 8nd 8m811 groups. The resourdng of pa61oral work inclut11ng ￿81¢[n9 the Sick and ber&avgd. Taking religiou8 assemblies N) local Schools. Prornolion ol Chri511anSty through tho ulaging of even18 and st￿¢8$. Provl8lon of chaplalncy 8eNco8 10 tho local un6verBity ar￿ other InsUluliDns. Tha Iruslées have pald due regard 10 guld8nc• ￿lU&d by th8 Charjty Comml881on In dècldlng what 8Ctlville$ the charily should und8rtak•. Achlevem•nts •nd porfomian¢• Thg ch8rfty 18 Ihe controlllng body of the Melhod581 Chvrch In the Rolherham and Oearne Valley area. We seek lo promot¥ the Christian Gospel ol Hope through the life and leaching$ of J&su$ Christ 8$ ￿ntained in Ihe Holy Bible. We do th18 In many ways bul mabnly through thè operallon 0111 Chur¢he8 In th18 area. The b8n8fidaries of our work are many and through discu88ion al our Clrcuil meeting we constantly se&k new ways of SP￿9d•n9 Ihg Gospel. Flnanclal rnvlgw The charity Is financially solvanl and currenlly hold8 roserv86 In exce88 ol Methodi81 requlremenls B8 lold down by conference. We are looking al how our reserves can be deployed in the future. Two new mlni8ter8 have been 8ppointed Bnd Ihgy start 1 September 2023 for a minimum of 5 year8. The charity are reqUI￿d to hold a8 reserves WTthln the Methodlst church 6 months annuol expendllura as mlnimum. Ther6 is no r8quifement10 8pend sums In excess of thls. The trustees have assessed the major risk8 lo which the charity is exposed, and are sallsfied Ihat 8yslems are In plac& lo mitlgal8 exposure to Ihg major rosks. ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Structur•p gov•mane• and man•g•m•nt The Rolherham And Deamo Val￿Y Circuit Is under the control of the rArcuil rn681ing in Ihl$ ar&a. The actions arg oulbned and dlscussed at our quBrtedy meelSng. Reports 8re presented on a regular basis lo èxplain our curr•nl sllualion. All financial documents are 8upph.ed to the Sheffleld District whth itself overse88 a number of drcuits in this area. The day to day running ol the circuills ov8rse8n by th& cIr￿lI leadershlp team who arè Ihe employéd staff and 8 nvrnber of unpald lay clrcuit stewards. The Iru31ees who Sorved durfng the year wero-. Rev J Barrass Rev J Park L Broadhèad R CaLwood J Cook P Drabb DGUY A Ho11 J Hamp8hlr• S Hannam J Hindley G Hudson J Kilner AAndr&ws M CollinBon K Dunn R Hambroy K Hester A Holm8$ R Hudson R Llndley G Houghlon P K9nny Fll V Loveday IM8W M Moran G Plti D Schofiald SrnSth S Tan89r M Trghern F Wlson F Lov911 G Lumb M Mellar8 8 Mlllinglon PNa G Perkln8 D Ryan C Sari8anl E Slddall K Smal￿09d D Styles G Slylgs C Taylor H Thickill E Walnwrighl l ￿119 A Wrighl E ￿ght All memb•r8 of th8 drcull are appolnled by tho ¢hurth&8 In the area of Influence plus th• pold 8laff employed by the clrcult. Trnn•f•rn from r••trfct•d fund• th regard lo the transfer8 from the rèstricted fund. Th• fund18 only reslrlcled In that 8ppllcatlon h88 lo be mad• lo the head office of th& Melhodbsl Church through tha gleclronic con58nl6 sys18m. If 8pproval18 glven to o s¢home then funds can bg wlthdrawn. All monles Into the r&8lrfcled fund come from the Sale of localty held Molhodisl land and woperty. The Iruslees, report was approved by the Board of Trustee8. Oavld Ryan Treasurer 3 May 2024 ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT I report lo the trustees on my examinallon of the finonGial slalem6n18 of Rolherham and Dearne Valley Malhodlsl Circull lth& tharityl for the year ended 31 August 2023. R••pon8lbllltles and ba818 of rnport AS the Iruslees ol the charfly you are responsible for th8 preparallDn of the flnandal slalem8nl$ In accordance wfth the rgquirom8nls of the CharltlesAct 2011 Ith8 2011 Act). I report In respect of my exarnlnallon of the charlly's flnanclal $lalam8nls cathed out under sectlon 145 of the 2011 Act. In carrying out my examination I havè foll)wed all Ihg applicable Dlrection8 glvon by the ChArily Cornrnlsslon under S￿l9n 14515)Ib} of the 2011 Act. Indep•nd•nt examSn•V• ¥tatsm•nt Slnc8 ihe charily'B gr055 income ex¢••d8d £250,0￿ your examiner mu81 be a member of o boty listed in 8$¢1ion 145 of the 2011 Act. I confirm Ihal18m qu81ifiad to undertake the oxamlnallon becgusg l am 8 rn8mb8f of ICAEW. which 18 on& of th8 li8led bodie8. Your attentlon is drawn lo the fod Ihat the Charity has piepared flnand81 statement8 Sn accordance wlth AccounlSng and Reporting by Charrtles preparing théir accounts In accordan¢o with tha Finanual Reporting Standard 8pplicable in Ihe UK and Republlc of Ireland IFRS 1021 In pieference lo the AGcounllng and Reporting by Ch8rlllès'. Slalem&nl of Recommended Practlce Issued on 1 Aprfl 2005 whlch Is referrod lo in Ihg xtant regulations bul ha8 now be•n withdrawn. l under8tsnd that Ihls has boen don9 In order for flnand8181alèmen18 to provlde a Iw8 and falr ￿¥W In accordance wllh Genfjral￿ Acceptod Accounting Practice effedve for Teportkng perltsds beglnning on or after 1 January 2015. I have compleled my tsxaminalion. I confim th81 no mallers ho￿ come lo rny 911gnllon In connèction wllh the 8X8rnln8llon glvlng me cau88 to belk9ve that In any mal&rl81 r8sp9Qt'. accounllng fecord8 were not kept In r•spact ol the chartty as requlred by seclbon 130 of the 2011 Act,. or the flnancial stslemenls do not 8cwd wllh Ih08e records., or the financial slalemeni8 do not comply wllh Ihg applicablg requlr•menlg conc•rnlng the form and o)nlènl ol accounly set out In the Ch8rilles (A(£ounls and Reports) Reg(tlallon8 2008 olhgr Ihan any requlremènl that the accounts glvo a true and falr wew whid) is not a maller con81dergd as part of an indopendenl exomlnallon. I have no concems and have ￿m9 a¢ro$8 no other Matters in CAinnoction with thè ex8mln4lion lo whkh 8ttenllon should be drawn In thls report In order lo gnabl& a prop&r under$landlng ol thè tlnancl81 stalem8n18 10 be reathed. Nalalle Bracey FCA Hart Shaw LLP Chartergd A¢wuntsnts Europa Llnk Sheffield Busine88 Park Sheffield S9 1XU D81ed.. ￿0/05]￿0&4 ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST2023 Unr••trlctsd Re•trlct•d fund• funds 2023 2023 Total Total 2023 2022 Not•s Incom• and •ndowm Charllablg a¢tsiriUe5 Other trading adivib'es Investments Othgr inwmo nts fram: 180,289 27,160 15,104 173.783 354.052 27.180 42.609 175,175 34,560 5,563 2,236 27.505 Total Incom• 222,533 201,288 423,821 217,534 Charllable 8Ctivlll03 347,079 347,079 349,861 Contrlbutions to DAF oth9r 8XP8ndNurè 38,724 1,947 38,724 1,947 12 5,218 Total T0￿Ur¢•• •xp•nd•d 347,079 40.871 387.750 388,741 N61 galn8111088t8) on Investmen18 13 12,1391 (2,139) {3,3771 N•t loutgolnglllncomlng r••ourc•• bgfor• n•l•rn 1124,5401 158.478 33.932 {174.5841 Gr08s transfers bthoen funds 91,554 191,5541 N•t mov•m•nt In fund• 132.9921 66,924 33.932 1174,5841 Fund balancas al 1 S8pl8mbar 2022 1.024.242 683.359 1,707,601 1,882,185 Fund b*l*nc•• at 31 Augu•t 2023 991,250 750,283 1.741.533 1,707,601 The stglamenl ol finandal actlvllles Indudes all galns and108ses recognlsed In the year. The 8tal•menl ol flnancl81 advltles Includes all gains and10s6es re¢ognlsed in the year. All Income and expen¢Jiturg derlve frorn contlnuing activltie8. ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT BALANCE SHEET AS AT31 AUGusf2023 2023 2022 Noto¥ Flx•d a•8•1• Tangible assets Investments 15 18 438.975 48.244 438.975 50.383 467,219 489,358 Currgnt *#••ts Debtors Inva8lm8nis Ca8h al bank and In hand 17 73,706 33.000 1,201.169 1,262,529 1,307,875 1.283,491 Credltor¥: amount• hlllng du• wlthln on• y••r 19 (53,5811 (45,248) Ngl curT•nl 9850t8 1,254,314 1,218,243 Totsl a•Mts I￿¥ curr•nt Il•bllltl•• 1.741.533 1,707,601 In¢om• fund• Rg$lrlcted fund8 UnreslrtGted fund8 750.283 991.250 883.359 1,024,242 1.741,533 1.707.801 The a¢count8 were opproved by Ihe Trusl805 on 3 May 2024 Da￿d Ryan Trea•urer ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 A¢countlng pollGI Charlty Inf0M￿tIOn Rolherham and Degcne Valley M8thodlst ClrcuTt18 a ch8rlly r9g15t9red in England and Wales. The ragislered office18 Central M&lhodlsl Church, Lodge Lane. Aston, Shoffitrld, S28 2BP. 1.1 Aecountlng conv•ntlon The financAal slalemenl8 have been prap8r8d In occordance wlth Ihe ch8rltls 09od of Unlon 119321 and Melhodi$l Church Act119761, the Charilles Act 2011, FRS 102 'The Financial Reportbng Standard applicable In Ihe UK and Republic ol Ireland. I'FRS 102.1 and the Charities SORP "Accounllng and Reportlng by Charflies.. Stalemenl of Recommènded Practlce applleable lo ch8rilies preparing Ihelr accounts in accordanca wllh th• Finanaal Reportlng Standard appll¢able In the UK and Republio of Ireland {FRS 1021" leffedve I J8nu8ry 20191. The charity Is a Publlc Benefit Entity a8 deffined by FRS 102. The tharSty h88 taken advantage of the provisions in Ihg SORP for charilles not lo prepare a Statement of CaBh Flow8. The financial 8latemenl8 have dfrp8rted from the Charftl88 IAccounl8 and ReportBI Rggulalion8 2008 only to the extenl requbred lo provlde 8 true and fair vlew. Thls departure has invofved followlng Ihe Slalgmenl of Rg¢ommended Practice for chari1168 applylng FRS 102 rolher than the veryion of the Slalemenl of Rg¢ommgndgd Pr8ctlce whlch18 referred lo In the Regulatlons bul whSch h88 8lnce been wthdrawn. The financial statements 8re prepared in 81erUng, whlch 58 the functlon81 currenw of the charlty. Monetsry amount8 In the88 flnandal 6191omenl8 rounded lo Ihg ngare8t £. The flnanclal stalemantB have been prepared under Ihe hl810rf¢o1 cost convanllon. Tho prlnclpal accounllng pollde8 adcf*le(l arg $91 0￿ below. 12 Golng con¢•m Al Iha Uma of appro￿n9 th8 fln8ndal 8talem6nl8, th• Iru81ee8 have a reasonable expectallon th91 tha charlty h9$ adoqualg resour￿$ to continue in oporalional exislen¢e foi tho foreseeable fulure. Thus th8 trust888 continue lo adopt the golng concarn b*sis of acrAJunling in prèparfnp Ihè flnandal stslem&nls. 1.3 Charltable fund# Unr861rlct6d funds ar8 8vailabi8 for u88 at the dlscrellon of the Iru81&8s In furth8rAnc8 of Ihelr charilabie objectives. Re8trictod funds grg 5ubl8Ct to spéclflc condlllon8 by conler8nc8 as lo how they may be used. The purpos85 and u89$ of tho ro$lri¢l¢d funds are sel out in the notes lo the account8. 1.4 Incomlng r•sourc•i Incomels recogn15ed when the d)arlly18 legally enlllled to It 8ft8r any pgrforrnance condlllons have bo6n mel, th& amounts can be rneasured rellably. and it 18 probable Ihat incom• will bg rec81V8d. Cash donallon8 are recognlsed on receipt. Other donalTons are recognlsed oncg th8 charity has been notified of Ihp donation, un186$ perfomiance conditions requiro doferral of the amount. Incomè tax racov8rable in felalion lo donations recebved under Glft Ald or deeds of ry)venanl Is recognl8ed at the Ilme of the donatlon. Leyarie8 8re recognisgd on r8C8iPt or otherwise if the charity has been noliflad of an Impendlng dislribulion. Ihe amount Is known, and receipt is expected. If the amount 18 not known. the lggscy Is Irealed as a conlingenl 05seL ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 AUGUST2023 Ac¢ountlnu pollch• IContlnued} 1.5 ReBourc•• oxp•nd•d Expenditure 18 recognised under the accruals basls. Speciflc expendllure on charltablg aotivilig$ is chargèd dlrectly agalnsl the acuvlty lo whlch it relatss as costs ol raising funds or expendllure on charilablè activities. Support and govomanc6 costs 8re charged 8galnsl the Qharflablo actiwty they 8UPPOrt the most. Olhgr expenditure represents th088 items not fallbng Into any other h&8dlng. Irre￿)¥9rats19 VAT Is charged as o ￿5¢ again$1 the activrty for which th8 expendilum was Incurrod. 1.6 T•nglbl• Ilxod Tanglblg fixgd 888els are initially m8asurod 91 co814nd 8ubgoqu8nty me88ured at co81 or valuallon, nel of depreclalion and 8ny ImpaSmienl1088e8. Depreciallon 58 fecognised 80 a8 to wrrte off the c061 or valuatlon of a￿•ts1885 Ih&lr rosldual values over Ihelr U8elul Ilves on the lollowlng ba888'. Freehold land and bulldlngs Held al re6Idual value The galn or 1088 8r181ng on the d16P08al of an asset 18 delermlned a$ the dlfference bets¥egn Iho sal6 Pfoceed8 and the carrying value of th& a88el, and IS iecognlsed In the 81al6menl of1Snan¢Sal activllS0s. 1.7 Flxfrd ai8ot Inv•8tm•nt• Fixed a8881 Investmgnts 9r• In111811y m848tJred al tr8n8Bctlon prf¢e excludlng Iran$8dion ¢o$l$. and are subs9quenlly mea8ureiJ 81 f8lr valu9 9188ch reportlng dale. Changes In falr valug aro recognS9od In nel In¢omgllexpendituro1 lor the year. Ti4n8aclion co818 8fO oxp&n8*d a8 Incurred. 1.8 Impalrm•nt offlx•d a•••ts At each reptsrtlng end dale, the ch8rfty re￿ewS th8 C8rylng amounts of Ils langlble assets lo determlne wh8lh8r there Is any indication th81 Ihoso ass&ls hav8 sU￿r6d an impairmènt loss. If any such indicatlon exlBts, the recov8rabl8 Amount of th• assat Is osilm8t•d In order to d•t•miin8 th• extent of the Impalmianl loss lif any). 1.9 Ca•h and cagh •qulv8l•nts Cash and cash èquival•nts includ• cash In hand. d•poslts h•ld 81 eAII wllh bank8, othw short-temi Ilquld In￿GIments wilh or5glnal malurflles of thrge month8 or1088, and bonk overdraft8. B9nk ovordrafts arg Shown wilhln borr¢)wlng$ in current liabiliti¥$. 1.10 Flnanclal In#iNmonts The charily ha8 elected to apply the provlsions of Section 11 'Ba8lc Flnandal In8lrumenis' and Seollon 12 'Other Financial Inst￿m￿nIS Issues, ol FRS 102 to all of its financial instruments. Flngnclal Instruments 8r& recognls8d in th& chaTIty's balance $h991 whgn the charity b¢come$ party lo the conlraetual provlslon8 of the Inslrumenl. Finanoal a$sel$ and liabilities are offset, with Ihfr not amounts prestrnled in the financial $lal&menls, when Iheie Is a18gally enforceable rfohl to set off th8 T8￿gnISed 8mounl8 and there is an intention lo settle on a nel basls or lo reallse the 88set and settle tho1Sablllty slmutsneously. ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Accountlng pollci•s Icontlnued) Basic fin•n¢l*l asjets Basic financial assets, which indude debtor8 and cash and bank balance8, arg inllially measured at Iiansactlon prfce indudlng transaction co8ls and subs8quenlty carried al amortlS8d cost using the effective interest malhod unless Ihe a￿angement Ctsnslitutes a ffinanang Iransaclion, where th8 Iransaction Is mea8ured al the present value of the future rec8ipl8 dl8countsd al a mark81 rale of Interest. Flnancial assals classrfied 85 recolvablfr wilhin ona year ara nol amorti88d. 8•sl¢ IlnJn¢l81 Il•blllUes Basic flnancAal Ilabili1108, Indudlng crodllors and bank loan8 InllS8lly recognisgd al tranBactlon prlce unle88 the arrangamenl conBlilules a financlng Iransaclion, where the debt in8lrum8nl is measured at the present valuè of the fuluia payments dlscounled al a mat*el ralg of intergst. Flnancial liabllllles classSflod as payabl8 wllhln one year arg not amorti38d. Debt Instrum8n18 are 8ub8equenlty ￿rrIed al amortbBéd c08t, uslryd tho offectlvo Inl•r&8t ralè mèthod. Tr8dg cr8ditors are obligallorb5 to pay for goods or Se￿rA98 Ihal have been acqulred In the ordlnary cour$8 of operaUon8 from suppller8. Amounts payable 8fe cla8slfied 88 current IlabSlllle8 if paymènt Is due wSlhln one ye8T or less. If not, Ihgy aro prgsenled #s nOn-￿rrent liabllili08. Trade creditors are recognlsed Snilially at tran88ellon pdce and sub8equenUy measured al amortlsed c081 u8lng the effectlv? Inlorest rnelhod. D•rffognlllon of fln•nel•llhblllll•J Flnanclal Ilabllllles 8r8 dofecognls8d whèn the charity'8 contractual obligo1ion5 explre or are dlscharged or c8ncelled. 1.11 Employ•• ban8flts The ¢08t of any unuBed holiday 8nlillèm•nl 18 recognI80d in the period In whlch the grnployee'8 sor￿c8S are recqlved. Tenninalk)n benefi18 8re recognl$&d Immgdlalety a¥ an expensts when the charflylg demonllrabty committod lo lermlnale the omployment of an employee or lo pro￿￿etermInal0￿ b8nefil8. 1.12 Rotlroment bonellt• Paymènts to defined conlrtbutlon rgtlremenl benefrt $chaffl83 ara chargèd 88 An expens8 a8 they lan du•. Crbtlcal •ccountlng •8tlmat•• and ludgom•nts In the 8ppllcallon of the ¢harlty'8 accounllng policlas, the trustees are required lo make ludgemenls. osllmatgs and 865urriplions about the carrying amount of assets and 1Sabililies that are not readlly apparent from other sources. The e8llmale8 and 8ssoclaled assumptions arg based on historlcal 8xperSènc8 and other faciors that are consldered to be relevant. Athal results may dlffgr from Ihgso e$limalg¥. The esllmate8 and underfying assumptions are reviewed on an ongoing basis. Rgwslons lo accounting eslimales ar8 re¢ognlsed In Ihe porlod In which the estimate is revised where the r8vision 8ffects only that period. or in the perfod of the revlslon and fijlure periods wheré the rev681on affect8 both currant and future riodB. ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Chlrftablo •clfvltle• 2023 2022 Church o)Ilectlons Church sa19S 180,289 173.783 175,175 354,052 175,175 Anatysls by fund Unrestrlcted funds R861rfcted lunds 180,269 173,783 175,175 354,052 175,175 Oth•r tr•dlng actlvhl•• 2023 2022 Lgttlng and li¢on$ing atrnngVtment8 27,180 Olhgr Incomg relo188 8019ty lo unrostrlciod funds, Inv••knent• Unrn•trS¢t￿ R••trfct•d fund• fund• Total Unr••trlcted R••trl¢tsd fund• fund• Tot*1 2P23 2023 2023 2022 2022 2022 Inter081 recelvable 15,104 27,505 42.809 1,676 3,887 5.583 ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUED FOR THE YEAR ENDED 31 AUGUST 2023 other In¢om• Unr•$trl¢tod funds Total 2023 2022 Ghur¢h u$8 for ￿ents 2,238 Ch•rltabl• •ethiltl•# 2023 2022 Staff costs Methodist Church Fund Telephon8 & travel Insurance & ulilftlès M81nlon8nco on mansgs Exp8ndilur& on olh8r propgrt19$ Donallon8 Other expendKure 1c￿.286 58.808 11,497 12,658 42,225 7,393 152.795 58,8C 12,185 14,119 2,159 73,170 2,851 28,278 24,596 258,245 344.103 Grant fundfng of act1￿1188 Ise& note 61 Share of 8UPPQrt coslty {$10 nol• 91 84.825 4.009 5.698 347,079 349,881 Anily•l• by fund Unre81ricted fund8 Re8lri¢ted lund8 347,079 338,495 11,388 Grnnts p•y•b Dursng the yoar on& granl12022- none) was made lo fijnd the Broom Church gnlranc•. 10- ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 Support Costs Support Gov•mance costs costs 2023 2022 Bas14 of allocatlon Admlnl8lrallon cosis 4,009 S.698 Charltable 8Ctlwlb86 5.698 Anatys•d b¥￿￿n Charllablg octivtti88 4.C4J9 5,898 10 Tr￿ts•# Durlng th¥ ye8r. 5 Truslees hava b80n pald r8muneraUon and had iecelved other benefit8 from an employment wllh the Rolherh8m ond Oeamo Vall8y Circuit. The Trustees On￿ recelved remun8ralSon rgspect of serylc88 they provldg undertaklng Ihelr rol88 under Ihelr conlrara of employmenl, and not In 188pect ol thoir rolo a6 Truslge8. The valuo of Tfu819gs' remunorats'on and other benefits was as follows.. 2023 2022 Rev J Park R•mun8rallon P8n81on contrlbullons pgld 11,396 E Ar¢her-Sldda Remunerallon P8n8lon contrlbutlons pold 29,140 1,888 26,580 1.593 WAshlon Remunoratlon Pen81on contrlbutlon8 pald 8,940 418 D Ryan Romuneratlon Ponslon contrlbullon8 pald 13.168 730 11,488 889 J Hood R&mun8rallon PenBSon conlribullon8 pald 17.110 1,026 Rev J Ar¢her-Siddall Rgmuneralfjon Penslon conldbutlons pald 28,975 8,398 K Dunn Ramunèralion Pen8lon contrlbutlon6 pald 8.796 5,568 G Perkins Remuneration Pension contributions paid 12,700 During the pfjr￿. 712022.. 81 Trustees reCe￿d reirnbursemenl of expen8es. 11 ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 11 Employa•• Numb•r of •mployeo• The average monthly number of employee$ durfng the yo8r wa8.. 2023 Numb•r 2022 Numbgr Employm•nt co•t• 2023 2022 Wage8 and 8018rf8$ Social Se(￿￿tY costs Other pén8lon co818 91.600 5,101 3,585 109.078 8.551 35.168 100.286 152.795 There were no employee8 who recefved tol41 employeg ben8ffts18xcludlng omployèr pen8ion conlrfbuUon8) of more than £80,OCv). 12 Othor exp•ndlturn 2023 2022 No1106$ on dlsposal of langlblfj flxed 488918 Admlnlslrauon of reslrlcled fund 5,218 1,947 Tha1088 In 21Y22 r8lal•s lo th• of a Man88. 13 G*ln• and lo•••• on InvMtm•nts Re•trlctsd fund• 2023 R•$trl¢t•d fund¥ 2022 Gainslllossesl arfslng on.. Revaluation of investments {2,1391 (3,377 14 T•xAtlon Th8 th8rMy18 exempt from tsxallon on Ils actNlb'&s bec8u$8 all Its Incom8 Is applied lof charKablè purpo8&8. 12- ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 IS Tanglble flx•d a$$•ts Fr••hold land and bulldlngts Cost Al 1 Seplemb8r 2022 438,975 AI 31 A￿U81 2023 438.975 C*rrylng amount Al 31 Augu812023 438.975 Al 31 August 2022 438,975 16 Flx¢d a•••t Inve•tm•nts rd B•qu￿1 Co•t orv•lu•tlon Al 1 Saplember 2022 V8luo1ion chong88 50,383 2,1391 At 31 August 2023 48.244 CA￿Ing amount At 31 AugU812023 48.244 Al 31 August 2022 50.383 Olh8r Invè8lm•nls were 8ublect to valuallon by Tho Tiuslees for M•lhodl81 Church PurFtyJB8$. Th? Inve8trnenl 18 rovglued on an annual ba818. 17 Debtorn 2023 2022 Amount• falllng du• wlthln on• y•ar. Other debtors Prepaymen18 and accrued Income 86,830 6,870 982 73,708 962 18 Currnnt••••t Inv•8tm•nt• 2023 2022 Logn8 33,000 13- ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2023 19 Crgdltorn: *mount• falllng dug wlthln on• year 2023 2022 Trode credllors Accruals and doforred Incomg 4,201 49,380 308 44,940 53,561 45,248 14- ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 AUGUST 2023 21 Unr•sblctad funds The unreslrfcted funds oftho charfly comprls8 thg unaxp8nd8d balances of donations and grants which ara not subject lo specific ¢ondillons by donors and grantors a$ to how they may be used. The3e Include d8signalgd fund6 whiGh hav8 béén 881 a8ld8 out of unr8Strfct8d fijnds by thg Irusl8es for specific purposes. At1 S•pt•mb•r 2022 Ineomlng r••oyr¢•• Resources •xp•nd•d Tran•fer• At 31 August 2023 General fund8 1,024,242 222,533 1347.079) 91.$54 991,250 Pr•vlou• y•ar. Incomlng R••ourcas Y••our¢e• oxp•nd•d Trnn•f•r• At 31 Augu•t 2022 8•ptsmb•r 2021 General funds 1.282,938 213,847 1338,4951 {113,8481 1,024,242 22 Anal￿￿ of n•t as••ts b•tM•n fund• UnM•trlct•d RMtrlct•d fund fund 2023 2023 Tot•1 Totsl 2023 2022 Fynd balonc•8 Ot 31 Augu•l 2023 ar• r•pros•nl•d by.. Tanglble 888818 Inv6slmeni8 Curr•nt asset￿[119bIll1l•8I 438,975 438.975 438,975 48,244 50,3B3 1.254.314 1.218,243 48,244 702,039 552.275 991,250 750,283 1,741,533 1,707,801 23 R•latod paty traMactlon• There were no dl¥dosable related porty transa￿on$ durlng the y&ar12022- nong). 16- ## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT** INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT _Please see Page 3 of the attached document headed_ **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023**