## **Trustees' Annual Report for the period**
Period start date Period end date ~~a|~~ **From** Day 1 September Year 2023 **To** Day 31 Month August Year 2024 Section A Reference and administration details a **Charity name** Rotherham and Dearne Valley Circuit ~~pe~~ **Other names charity is known by** ~~po~~ **Registered charity number (if any)** 1132844 **Charity's principal address** 18 Queensway Rotherham
Postcode S60 3EE
**Names of the charity trustees who manage the charity**
**Dates acted if not for whole Name of person (or body) entitled Trustee name Office (if any) year to appoint trustee (if any)** ~~ee es~~ 1 Rev Andrew Fox ~~a QQ~~ Superintendent 2 Rev Louise Makin ~~a GO~~ Presbyter 3 Mr Edward Siddall ~~GO~~ Lay Pastor Presbyter LEP 4[Rev Lynn ] Broadhead ~~a ee ee ee~~ 5 Rev Jo ~~a~~ yce Barrass ~~GG~~ Supernumerary 6 Rev Dick St ~~GO~~ yles Supernumerary 7 Rev Jennifer Park Supernumerary Mr David Ryan Circuit Treasurer and Governance 8 Officer and Treasurer ~~fF~~ Circuit Secretary and 9[Mrs Anne Holmes ] Circuit Steward ~~a ee~~ 10 Mr John Cook Assistant Secretary ~~ee eG~~ Mr Graham Hudson Connexional Funds 11 Secretary and Circuit Steward ~~ee~~ Action for Children 12[Mr David Guy ] Secretary ~~ee ee eeee~~ Climate Justice 13[Mrs Karen Dunn ] Officer ~~ee ee ee ee~~ 14[Mr Robert Hambrey Local Preacher ] Secretary ~~ee ee ee ee~~ Mrs Muriel Mellars Representative for 16 Local Preacher ~~ee~~ Meeting
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55|Mrs Gill Styles|Representative for
Local Preacher
Meeting|||
|---|---|---|---|---|
||Mrs Rona Hudson|Trustee|||
||Mrs Gail Atkin|Trustee|||
||Mr Alex Hall|Trustee|||
||Mrs Eleanor
Wainwright|Trustee|||
||Mrs Victoria
Loveday|Circuit steward|||
||Mr Frances Lovell|Trustee|||
||Mrs Margaret
Moran|Trustee|||
||Mrs Janet Griffiths|Trustee|||
||Steve Hannam|Trustee|||
||Mrs Joyce Kilner|Trustee|||
||Mrs Jean Craig|Trustee|||
||Chris Houghton|Trustee|||
||Mrs Irene White|Trustee|||
||Pat Na|Trustee|||
||Anne Wright|Trustee|||
||Mrs Anita Andrews|Trustee and
Circuit Steward|||
||Mrs Kay
Smallwood|Trustee|||
||Mr Roger Lindley|Trustee|||
||Mr Dave Wright|Trustee|||
||Mr GaryPitt|Trustee|||
||Peter Drabble|Trustee|||
||Mrs Angela Yardy|Trustee|||
||KayHester|Trustee|||
||Fiona Wilson|Trustee|||
||Mrs Julia Hindley|Trustee|||
||Mr Bill Millington|Trustee|||
||Mr David Schofield|Trustee|||
||Miss Liz Hill|Trustee|||
||Mrs Julie Hardwick|Trustee|||
||Mrs Irene Benson|Trustee|||
||Mr David Sykes|Trustee|||
||AmyWright|Trustee|||
||Mrs Jane Shore|Trustee|||
||Mrs Anita Taylor|Trustee|||
||||||
||||||
||||||
||||||
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**Names and addresses of advisers (Optional information)**
**Type of adviser Name Address**
## **Name of chief executive or names of senior staff members (Optional information)**
Rev Andrew Fox
Rev Louise Makin
Mr Edward Siddall
## **Section B Structure, governance and management**
## **Description of the charity’s trusts**
Deed of Union (1932) AND METHODIST Church Act (1976) Type of governing document
(eg. trust deed, constitution) Act of Parliament How the charity is constituted
- (eg. trust, association, company)
Appointed by local churches and existing trustees Trustee selection methods Ministers are automatically trustees (eg. appointed by, elected by)
## **Additional governance issues (Optional information)**
You **may choose** to include additional information, where relevant, about:
- policies and procedures adopted for the induction and training of trustees;
- the charity’s organisational structure and any wider network with which the charity works;
The Circuit works in partnership with other Christian Churches and a number of Christian charitable organisations:
High St Centre, Rawmarsh (5 members of board of trustees)
Community Education Connection Ltd.
Methodist Homes for the Aged
- relationship with any related parties;
- trustees’ consideration of major risks and the system and procedures to manage them.
## **Section C Objectives and activities**
The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:
**Summary of the objects of the charity set out in its governing document**
- a) The Christian Faith in accordance with the doctrinal standards and discipline of the Methodist Church ;
- b) Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church
- c) Any charitable purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church
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- d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church
The Circuit produced a quarterly preaching plan to ensure regular acts of worship take place at each of the 10 Methodist Churches and the 1 Local Ecumenical Partnerships in its geographical area.
These are open to all people without charge, and serves over 600 people every week this way.
The Circuit exists to provide a living expression of the Christian faith in action, both in individual’s lives and in community work, and providing a regional and national voice. This includes organised acts of learning, caring, worship and service. We do this from a base of 10 caring communities and several charities.
**Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)**
Each of our 10 churches has a variety of public services that it offers, across all the age ranges including, providing rooms for community use, Mums and Tots groups, playgroups, youth groups, support for youth uniformed organisations, including, Scouting Guiding, Boys Brigade, Girls Brigade and a range of activities for adults and the elderly including Memory cafes and Senior Youth Clubs Through High St Centre in Rawmarsh we provide services on behalf of RMBC through our Youth Charity, and Community development work. This includes respite care for children with special needs, after school care, youth clubs and meeting space.
Community Education Connection provides RE teaching in schools in Rotherham through a number of the churches connexions with their local schools. This includes assemblies, prayer spaces Godly Play and church visits. A number of other schools are supplied assemblies from the ‘Open the Book’ scheme.
The Circuit is directly involved and support the following ministries and projects in its area in partnership with other Christian Groups.
- The charity, Lighthouse Homes which offers accommodation for homeless men & women.
- Shiloh – day centre for homeless men and women
- Acorn Ministries (working with the elderly in local care homes.
- The Circuit works in partnership with other Christian Churches and a number of Christian charitable organisations across the Rotherham Geographical area.
We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.
## **Additional details of objectives and activities (Optional information)**
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You **may choose** to include further statements, where relevant, about:
- policy on grant making;
- policy programme related investment;
- contribution made by volunteers.
## Section D Achievements and performance
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## Section D Achievements and performance
**Summary of the main achievements of the charity during the year**
Mission Schools work is being developed further with active involvement across the borough. This includes assemblies, ‘Open the Book’ story time and Godly Play and prayer spaces.
Trinity Hall continues to function as a sustainable community centre, with provision with office space upstairs. The downstairs being used by Broad Horizons which provides care for adults with learning and physical difficulties.
Holiday Clubs continue at churches across the circuit.
Memory cafes are being run at Wickersley and St. John’s. Rawmarsh has renovated a new entrance and meeting rooms which are used by the community and NHS.
A new entrance area has been completed at Broom at Broom Family Fun Church has been established at Central and Broom and the Little Boat Club for under 5’s has at Central, Broom and St John’s and recently at Furlong Road
An Alpha Course has taken place over 10 weeks at Wath Methodist Church
Whiston is working hard with the Parish Council to offer additional support for community events
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## **Section E Financial review**
**Brief statement of the**
**charity’s policy on reserves**
The Reserves policy for the Rotherham and Dearne Valley Circuit is to hold equivalent to 6 months’ average expenditure in accordance with Methodist Standing Orders. This should be sufficient to meet any unforeseen item of major expenditure.
It is necessary to hold sufficient working capital to enable the quarterly payment of stipends and business expenses for two presbyters and five Lay Workers (from 1 September 2023) and our contribution to the District and Connexion.
## **Details of any funds materially**
**in deficit**
## **Further financial review details (Optional information)**
You **may choose** to include additional information, where relevant about:
- the charity’s principal sources of funds (including any fundraising);
- how expenditure has supported the key objectives of the charity;
- i t t li d
## **Section F Other optional information**
## **Section G Declaration**
**The trustees declare that they have approved the trustees’ report above.**
**Signed on behalf of the charity’s trustees**
**Signature(s)** A Holmes **Full name(s) Position (eg Secretary, Chair,** Secretary **etc) Date** 28th June 2025
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**Charity registration number 1132844 (England and Wales)**
**ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 AUGUST 2024**
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Ministers** Rev Dr A Fox Rev L Makin **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 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 - 18|
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
The trustees present their annual report and financial statements for the year ended 31 August 2024.
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.
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 2024**_
## **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|Rev A Fox|Rev L Makin|
|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|
|G Atkin|M Mellars|B Millington|
|M Moran|P Na|J Hardwick|
|G Pitt|D Ryan|C Sarjeant|
|D Schofield|E Siddall|K Smallwood|
|D Wright|D Styles|G Styles|
|S Tanser|C Taylor|H Thickitt|
|A Yardy|E Wainwright|I White|
|F Wilson|A Wright|E Wright|
|A Taylor|||
All members of the circuit are appointed by the churches in the area of influence plus the paid staff employed by the circuit.
The trustees' report was approved by the Board of Trustees.
## **David Ryan**
Treasurer
14 March 2025
- 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 2024.
## **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.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **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 the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements 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 the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
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 Charities Act 2011.
- 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 financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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: 1 April 2025
- 3 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**Unrestricted Unrestricted Endowment**
**funds**
**TMCP fund**
**funds**
**2024**
**2024**
**2024**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Charitable activities
**2**
198,487
-
-
Other trading activities
**3**
30,535
-
-
Investments
**4**
25,914
33,076
1,457
Other income
**5**
12,760
9,600
-
**Total income and endowments**
267,696
42,676
1,457
**Expenditure on:**
Charitable activities
**6**
325,700
26,000
-
Contributions to DAF
-
38,891
-
Other expenditure
**11**
-
1,810
138
**Total resources expended**
325,700
66,701
138
Net gains/(losses) on investments
**12**
-
-
3,732
**Net (outgoing)/incoming resources**
**before transfers**
(58,004)
(24,025)
5,051
**Net (outgoing)/incoming resources**
**before transfers**
(58,004)
(24,025)
5,051
Gross transfers between funds
76,320
(75,000)
(1,320)
**Net movement in funds**
18,316
(99,025)
3,731
Fund balances at 1 September 2023
991,250
702,039
48,244
**Fund balances at 31 August 2024**
1,009,566
603,014
51,975|**Total**
**2024**
**£**
198,487
30,535
60,447
22,360
311,829
351,700
38,891
1,948
392,539
3,732
(76,978)
(76,978)
-
(76,978)
1,741,533
1,664,555|**Total**
**2023**
**£**
354,052
27,160
42,609
-
423,821
347,079
38,724
1,947
387,750
(2,139)
33,932
33,932
-
33,932
1,707,601
1,741,533|
|---|---|---|
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 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**14**
Investments
**15**
**Current assets**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds - general
**19**
**Income funds**
TMCP unrestricted fund
**20**
Unrestricted funds|**2024**
**£**
**£**
438,975
51,976
490,951
62,469
1,166,223
1,228,692
(55,088)
1,173,604
1,664,555
51,975
603,014
1,009,566
1,664,555|**2023**
**£**
**£**
438,975
48,244
487,219
106,706
1,201,169
1,307,875
(53,561)
1,254,314
1,741,533
48,245
702,038
991,250
1,741,533|**2023**
**£**
**£**
438,975
48,244
487,219
106,706
1,201,169
1,307,875
(53,561)
1,254,314
1,741,533
48,245
702,038
991,250
1,741,533|
|---|---|---|---|
||||487,219
1,254,314|
||||1,741,533|
||||48,245
702,038
991,250|
||||1,741,533|
The accounts were approved by the Trustees on 14 March 2025
David Ryan **Treasurer**
- 5 -
**ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **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 2024**_
## **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 2024**_
## **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 Charitable activities**
|Church collections
Church sales
Analysis by fund
Unrestricted funds
TMCP unrestricted fund|**2024**
**£**
198,487
-
198,487
198,487
-|**2023**
**£**
180,269
173,783|
|---|---|---|
|||354,052|
|||180,269
173,783|
- 8 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**3**|**Other trading activities**|||
|---|---|---|---|
|||**2024**|**2023**|
|||**£**|**£**|
||Letting and licensing arrangements|30,535|27,160|
Other income relates solely to unrestricted funds.
- 9 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **4 Income from investments**
||**Unrestricted**|**TMCP**|**Endowment**|**Total**|**Unrestricted**|**TMCP**|**Endowment**|**Total**|
|---|---|---|---|---|---|---|---|---|
||**funds**|**unrestricted**|**funds**||**funds**|**unrestricted**|**funds**||
|||**funds**|**general**|||**funds**|**general**||
||**2024**|**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|Interest receivable|25,914|33,076|1,457|60,447|15,104|26,019|1,486|42,609|
- 10 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **5 Other income**
||**Unrestricted**|**TMCP**|**Total**|**Total**|
|---|---|---|---|---|
||**funds **|**unrestricted**|||
|||**funds**|||
||**2024**|**2024**|**2024**|**2023**|
||**£**|**£**|**£**|**£**|
|Church sales|12,760|9,600|22,360|-|
## **6 Expenditure on charitable activities**
|**Unrestricted**
**funds**
**TMCP**
**unrestricted**
**fund**
**2024**
**2024**
**£**
**£**
**Direct costs**
Staff costs
172,743
-
Methodist Church Fund
60,591
-
Telephone & travel
12,913
-
Insurance & utilities
21,849
-
Maintenance on manses
4,690
-
Expenditure on other properties
5,297
-
Donations
8,515
-
Other expenditure
18,053
-
304,651
-
Grant funding of activities (see note 7)
17,485
26,000
**Share of support and governance costs (see note 8)**
Support
3,564
-
325,700
26,000
**Analysis by fund**
Unrestricted funds
325,700
-
Restricted funds
-
26,000
325,700
26,000|**Total**
**Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
172,743
100,286
60,591
58,806
12,913
11,497
21,849
12,658
4,690
42,225
5,297
7,393
8,515
784
18,053
24,596
304,651
258,245
43,485
84,825
3,564
4,009
351,700
347,079
325,700
347,079
26,000
-
351,700
347,079|**Total**
**Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
172,743
100,286
60,591
58,806
12,913
11,497
21,849
12,658
4,690
42,225
5,297
7,393
8,515
784
18,053
24,596
304,651
258,245
43,485
84,825
3,564
4,009
351,700
347,079
325,700
347,079
26,000
-
351,700
347,079|
|---|---|---|
|||258,245
84,825
4,009|
|||347,079|
|||347,079
-|
|||347,079|
- 11 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **7 Grants payable**
During the year, four grants (2023 - one) were made as follows:
|**Unrestricted**
**funds**
**TMCP**
**unrestricted**
**fund**
**2024**
**2024**
**£**
**£**
Grants to institutions:
Broom Church - Entrance
7,485
-
St John's - Roof
-
18,000
Broom Church - AV System Upgrade
-
8,000
Broom Church - Roof
10,000
-
17,485
26,000|**Total**
**Unrestricted**
**funds**
**2024**
**2023**
**£**
**£**
7,485
84,825
18,000
-
8,000
-
10,000
-
43,485
84,825|
|---|---|
## **8 Support costs**
|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Administration
costs
3,564
-
3,564
-
Analysed between
Charitable
activities
3,564
-|**2024**
**£**
3,564
3,564
3,564|**2023**
**Basis of allocation**
**£**
4,009
Charitable activities
4,009
4,009|
|---|---|---|
- 12 -
**ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **9 Trustees**
During the year, 6 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:
|||**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
|Rev J Park|Remuneration|-|11,396|
||Pension contributions paid|-|-|
|E Archer-Siddall|Remuneration|30,336|29,140|
||Pension contributions paid|1,820|1,688|
|D Ryan|Remuneration|13,116|13,168|
||Pension contributions paid|787|730|
|Rev A Fox|Remuneration|32,320|-|
||Pension contributions paid|7,678|-|
|Rev L Makin|Remuneration|29,399|-|
||Pension contributions paid|7,678|-|
|K Dunn|Remuneration|6,240|6,796|
||Pension contributions paid|-|-|
|G Perkins|Remuneration|12,612|12,700|
||Pension contributions paid|-|-|
During the period, 7 (2023: 7) Trustees received reimbursement of expenses totalling £5,951 relating to travel, stationery, resources to use in ministry and manse repairs.
- 13 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **10 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|**2024**
**Number**
7
**2024**
**£**
142,569
10,818
19,356
172,743|**2023**
**Number**
6|
|---|---|---|
|||**2023**
**£**
91,600
5,101
3,585|
|||100,286|
There were no employees who received total employee benefits (excluding employer pension contributions) of more than £60,000.
## **11 Other expenditure**
|**TMCP Endowment**
**unrestricted**
**funds**
**funds**
Administration of restricted fund
1,810
138
**For the year ended 31 August 2023**
1,805
142|**Total**
**2024**
**£**
1,948|**Total**
**2023**
**£**
1,947|
|---|---|---|
|||1,947|
## **12 Gains and losses on investments**
||**Endowment**|**Endowment**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|3,732|(2,139)|
## **13 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 14 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
|**14**
**Tangible fixed assets**
**Cost**
At 1 September 2023
At 31 August 2024
**Carrying amount**
At 31 August 2024
At 31 August 2023
**15**
**Fixed asset investments**
**Cost or valuation**
At 1 September 2023
Valuation changes
At 31 August 2024
**Carrying amount**
At 31 August 2024
At 31 August 2023
**16**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**Amounts falling due after more than one year:**
Other debtors
**Total debtors**|**Freehold land and**
**buildings**
**£**
438,975
438,975
438,975
438,975
**Add**
**investments 1**
**£**
48,244
3,732
51,976
51,976
48,244
**2024**
**2023**
**£**
**£**
25,963
72,350
7,002
6,876
32,965
79,226
**2024**
**2023**
**£**
**£**
29,504
27,480
62,469
106,706|
|---|---|
- 15 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **16 Debtors**
## **(Continued)**
Other debtors due within one year disclosed above includes concessionary loans provided at 0% interest with an outstanding balance at the year end of £10,885 (2023 - £5,520).
Other debtors due after one year disclosed above includes concessionary loans provided at 0% interest with an outstanding balance at the year end of £29,504 (2023 - £27,480).
## **17 Creditors: amounts falling due within one year**
|Trade creditors
Accruals and deferred income
**18**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
2,346
52,742
55,088
**2024**
**£**
19,356|**2023**
**£**
4,201
49,360|
|---|---|---|
|||53,561|
|||**2023**
**£**
3,462|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
## **19**
## **Endowment funds**
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
|**At 1**|**Incoming**|**Resources**|**Transfers**|**Gains**|**and**|**At 31 August**|
|---|---|---|---|---|---|---|
|**September**|**resources**|**expended**||**losses**||**2024**|
|**2023**|||||||
|**£**|**£**|**£**|**£**||**£**|**£**|
|**Permanent endowments**|||||||
|48,244|1,457|(138)|(1,320)|3,732||51,975|
|**Previous year:**
**At 1**|**Incoming**|**Resources**|**Transfers**|**Gains**|**and**|**At 31 August**|
|**September**|**resources**|**expended**||**losses**||**2023**|
|**2022**|||||||
|**£**|**£**|**£**|**£**||**£**|**£**|
|**Permanent endowments**|||||||
|50,383|1,486|(142)|(1,343)|(2,139)||48,245|
|**_Warning: Balance c/f from prior_**|**_period does not equal balance_**||**_b/f in current_**|**_period_**||48,244|
- 16 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **19 Endowment funds**
## **(Continued)**
The Ward Legacy is the only endowment trust fund and 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.
## **20 TMCP unrestricted fund**
The TMCP Fund holds the capital receipts from the sale of properties. This can be withdrawn on request. This has been redesignated as a separately identifiable unrestricted fund during 2024.
|**At 1**
**September**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
TMCP fund
702,039
42,676
(66,701)
**Previous year:**
**At 1**
**September**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
TMCP fund
632,976
199,802
(40,529)|**Transfers At 31 August**
**2024**
**£**
**£**
(75,000)
603,014
**Transfers At 31 August**
**2023**
**£**
**£**
(90,211)
702,038|
|---|---|
## **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**
**2023**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
General funds
991,250
267,696
(325,700)
**Previous year:**
**At 1**
**September**
**2022**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
**£**
General funds
1,024,242
222,533
(347,079)|**Transfers At 31 August**
**2024**
**£**
**£**
76,320
1,009,566
**Transfers At 31 August**
**2023**
**£**
**£**
91,554
991,250|
|---|---|
- 17 -
## **ROTHERHAM AND DEARNE VALLEY METHODIST CIRCUIT**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2024**_
## **22 Analysis of net assets between funds**
|**Analysis of net assets between funds**|||
|---|---|---|
|**Unrestricted**
**fund**
**TMCP**
**unrestricted**
**fund**
**Endowment**
**funds**
**2024**
**2024**
**2024**
**£**
**£**
**£**
Fund balances at 31 August 2024
are represented by:
Tangible assets
438,975
-
-
Investments
1
-
51,975
Current assets/(liabilities)
570,590
603,014
-
1,009,566
603,014
51,975|**Total**
**2024**
**£**
438,975
51,976
1,173,604
1,664,555|**Total**
**2023**
**£**
438,975
48,244
1,254,314|
|||1,741,533|
## **23 Related party transactions**
During the year there has been related party transactions between the Circuit and D Ryan who is a Trustee. The transactions total £2,000 and relate to bookkeeping work (2023: £2,000).
- 18 -
## **Rotherham and Dearne Valley Methodist Circuit**
**Friday 27[th] June 2025**
**Auditor’s Report is included in Approved Accounts document which is attached.**
**Anne Holmes**