REGISTERED CHARITY NUMBER: 1133064 REPORT OF THE TRUSTEES AND UNAUOITED FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31 AUGUST2024 FOR BIRMIt4GHAM (WEST) & OLDBURY METHODIST CIRCUIT J W Hlnks LLP Chartered Accountants 19 Highfield Road Edgba5ton Birmingham West Midlands 8153BH
BIRMINGHAM (WEsll & OLDBURY METHODIST CIRCUIT CONTENTS OF THE FIP4ANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 P•8e Report of the Trustees I to 7 Independent Examlnerfs Report Statement of Nn•nclal Artmtlqs Balance Sheet Cash Flow St•tement li Notes to the Cash Flow Ststement 12 Notes to the Hnanclal Statements 13 to 20
BIRMINGHAM (WESTI & OLDBURY METHODIST CIRCU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 The trustees present their report with the flnancial stotements of the charlty for the year ended 31 August 2024. The trustees have adopted the provisions of Actountlng and Reporting by Charlties: Statement of Recommended Practlce applicable to charitles preparing thelr accounts In accordance with the Financlal Reporting Standard applltable In the UK and Republic of Ireland {FRS 1021 leffectSve l January 20191. OBJECTIVES AND ACTIVITIES Oblectlves and aims The Blrmlngham Iwestl and Oldbury Circult Is a part of the 81rmlngham Dlstrlct of the Methodlst Church. The arCU continues to support ordalned and lay mlnlstry In lo1 churches and thelr communltles. Care and support Is tyen to those of all communlties and falths a5 we follow Christ's command to love our neighbours. The Clrcult Is re5ponslble for 10 churches provlding rellglous attivltles for their members In Birmlngham. Dudley and Sandwell. These actlvltle5 are supervlsed by the circult mln15ters, lay workers and appolnted lay preachers and worship leaders, the malorlty of whom are volunteers. Mlsslon st•tement The alm of thls clrcult Is to enable the churches and Chrlstlan5 in the area covered by the clrcult to: l. Llve the Chrlstlan faith In local communltles in relevant ways 2. Stimulate and broaden thelr misslon bv: lal leadlng people Into a loving relationshlp wlth Chrlst Ibl 5ervin8 the communlty and workin8 for soclal justlce 3. Create a PK)Ilcy relevant to the local sltuation 4. Develop a sense of belonglng to the wlder church of Chrlst- ecumenlcally, connexlonally and internatlonallv 5. Support and encourage one another and share resource5- people. property, flnance5 and worshlp. Page I
BIRMINGHAM IWEST) & OLDBURY MEfHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 OBJEcfivES AND AcnviTIES Revlew of the year Throughout the year there were 10 churches.. Causeway Green, Clty Road, Court Oak. Ladwood, Qulnton. Rldgacre, Rounds Green, St Johns, Warley Woods and West Smethwick. There were three full-tlme mlnlster5 throughout the year under revlew. At 31 August 2024 the clrcult owned three manses, each one occupied by a full-tlme minlster. The rnanse at 8 Hlckmans C105e was bou8ht durlng 2023-24. No Investment propertles were held durln8 the year. No properties were sold durln8 the year. Mrs Rebekah Button was appointed as clrcult admlnlstrator In May 2024. Dr Mlchael Hall, the clrcuit meetlng secretary, retlred in September 2023 and has not yet been placed. Several churches face challenges relating to membershlp numbers, buildings and dlfflculty In flnding volunteers to flll key roles. The circult leadership team contlnue5 to revlew the mission Ilfe of the clrcuit. All churches have pald thelr assessments In 2023-24. However, It Is recogn55ed that money ralsed from church assessments does not cover clrcuit costs. The clrcult meeting has agreed that the Clrcult Model Trust Fund lan unre5trlcted fund In which capital transaction5 are recorded) may be used, In the short term, to subsldlse the General Fund. The balance on the Circult Model Trust Fund at the start of the year w05 substantlal on account of slgnlflcant property sales during 2022-23. The manse at Hlckmans C105e was bought at the stsrt of 2023-24 for £452K. £197K was transferred during 2023-24 from the arcuit Model Trust Fund to the General Fund. Durlng 2023-24, In addltion to normal running costs, the General Fund Incurred certaln 'non-stsndard" expendlture, namely £79K refurblshment work on the manse at Leahouse Gardens and £61K clrcuit grants to churches. Publlc beneflt In 5ettlng our objectlves and planning our activltles, the trustees have glven careful conslderation to the Charftv Commi5sloners' general guldance on publlc benePIt and, In partlcular, to its.supplementsry public beneflt guldance on advancln8 our oblectives, In accordance wlth the Charities Act 2011. FINANCIAL REVIEW Flnanclal posftlon Durln8 the year, the clrcuit recorded totsl Income from all sources amountlng to £247K 12023 £1,015KI. The amount of £1.015K In 2022-23 Included £810K relatlng to galns on fixed asset Investments and assets from cl¢)sed churches. The clrcuit disbursed £492K12023 £334KI, glving a net deficit of expenditure over Incorne of £245K12023 net surplus of Income over expenditure of £681KI. Totsl reserves at 31 August 2024 were £2,154K12023 £2,399KI. £913K represents Freehold Land & Bulldings12023- £461KI. £48K {2023- £44KI represent restrltted funds. No fund wa5 in deflcit at 31 August 2024. Page 2
BIRMINGHAM (WESTI & OLDBURY METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 FINANaAL REVIEW Investment pollcy and performance To comply with Methodist Standing Orders. money for long term Investment Is lodged wlth TMCP "Trustee5 for Methodlst Church Purposes" or wlth CFB "Central Flnance Board of the Methodist Church. TMCP is the legal owner and tustodlan trustee of all Methodist Model Trust propety, Including legacles, endowments and accumulated funds. CF8 manages a common deposit fund and a series of pooled Investment funds for Methodist entities in Great 8ritain. Interest rates from dep051t5 wlth TMCP and CFB reflect deposlt rates available elsewhere. The Investment pollcy of the clrcuit Is aligned wlth those of TMCP and CFB. who take Into account the soclal, environmental and ethlcal conslderatlons that make investments suitable for the Methodlst Church. Interest recelved durln8 the year ended 31 August 2024 was £72K12023 - £30KI. fteserve5 poIIcv "Free ReseNes" represent the balance on the General Fursd, the Clrcult Model Trust Fund and the Bequests Fund: £2,106K 12023 - £2,355KI. Totsl reserves at 31 August 2024 were £2,154K12023 - £2,399KI. £913K12023 - £461KI represent Freehold Land & 8uildlng5. £48K12023- £44KI represent restritted fund5. The General Fund derlve5 It5 Income princlpally from church contrlbutlons (also known as assessments). Thls Income goe5 towards financln8 the day-to-day runnlng cost5 of the circult. The trustees belleve that the balance on the General Fund should, under normal clrcumstsnces, be In the region of £80K £IIOK, to cover four to slx months of clrcult runnlng cost5. In order to malntaln this level, the clrcuit meetlng has agreed that transfer5 from the Clrcult Model Trust Fund Into the General Fund can be made, to reflect the fact that Income from church assessments does not currently cover the runnln8 Costs of the circuit. The Beginagen 2 Fund holds money glven specifically for that project wlthin a rlng-fenced fund. The donor's wlshes are that the money be used for communlty prolerts. Certain grants have been made from the fund during 2023-24. The balance of the money remalns rlng-fenced for future prolect5. fjolng concern The trustees of the circult have every reason to believe that the circult Is a going concern. The churches contlnue to meet thelr assessments. However, assessment income recelved from the churches is not sufflcient to cover costs of the clrcult. The sale of varlous propertles durlng 2022-23 means that the clrcuit has considerable funds held withln the Clrcuit Model Trust Fund. Recognlsing the fact that assessment Income from the churches Is not 5ufflclent to tover the annual costs of the General Fund, transfers from the Clrcult Model Trust Fund Into the General Fund wlll be avallable and necessary for the foreseeable future. Reserves pollcles are revlewed annuallv. There are no subsidiary undertaklngs. FUTURE EVENTS After the end of the flnancial year, the followlng developments are reported.. Rev Nutsn Suray entered the stationing process with a view to leaving the circuit in August 2025. Subject to the approval of Method15t Conference In June 2025, Rev Ann Varker will join the minlsterial team in September 2025. Meetings have taken place to discuss the ongoing mi55ion of the circuit, culminating in a Mission Review Meeting in October 2024. All churches report difPiculties In finding volunteer5 to fill role5 Wlthin the churches. Church 5teward5 are faced with organising an increasing number of 'local arrangement" seIce5, because there are not enough mlnlster5 or local preachers available to lead worship at all 10 thurches every week. Page 3
BIRMINGHAM IWESTI & OLDBURY METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 STRucfuRE, GOVERNANCE AND MANAGEMENT Govemln8 document The charity 15 controlled by Its governlng document, a deed of trust and constitutes an unlncorporated charity. The circult is governed by the Methodlst Churth Act 1976 and the Deed of Unlon 1932. Govern•n¢e The dlstrict operates wlthln a ststutory framework of re8ulatlon and seeks to ensure that it follows Methodlst Standln8 Orders. Or8anlsailoMI structure Indlvldual Methodlst churches are grouped withln clrcuits, whlch are in tum grouped wfthln dlstrict5. All dlstrlcts, clrcuits and churches are part of the Method15t "Connexion" Isee related partles below). Overall regulatory authorlty rests with the Methodist Conference, whlch meet5 once a year. The ConnexSonal Office Implements declsion5 made by Conference and Is also responslble for the 5tatlonin8 of presbyters and deacons (collectively known as mlnlstersl wlthln clrcults. Connexlonal declslons are passed to the distrlrt5 for Implementatlon. The Dlstrict Synod meets twice a year. Management The circult Is governed by the trustees con515tlng of the clrcuit officer5 and repre5entatlves of each of the churches. The trustees hold at least three meetlngs each year. The responslblllties of the Clrcult Meeting are lald down in Methodist Standing Orders. The circult meetlng is SUPPOrted by the leadershlp team which con515t of the mlnister5, lay worker and clrcuit stewards, which meets before each clrcuit meeting to flx the agenda and make recommendations. Other commlttee5 report to the clrcult meetlng on finance, property and any other matters which the clrcuit meeting so decide5. The clrcult supports 3 full time presbyters to exerclse pastoral overslght of the churches that make up the clrcult. There is a salarled Operatlons Manager and a self-employed Finance Offlcer. The clrcult also provldes voluntary support and leadershlp In the form of local paChers, a lay minister. clrcult stewards and trustees. Other offlce holders support the churches wlth help and advlce on property, flnan, worshlp and work wlth young people. We continue to serve the changlng communltles where the churches are located. Related partles Methodlst Church In Brltaln I'the Connexlon") Birmingham Methodist Distrlct The churche5 wéthin the clrcuit durln8 2023-24 were: Causeway Green Methodlst Church Clty Road Methodist Church Court Oak Methodist Church Ladywood Methodlst Church Qulnton Methodist Church Ridgacre Methodlst Church Rounds Green Methodlst Church St Johns Methodist Church Warley Woods Methodlst Church West Smethwick Methodlst Church Detslls of transactions wlth related partles are shown In Note 14 to the accounts. Page 4
BIRMINGHAM (WESTI & OLDBURY METHODIST CIRCU REPORT OF THETRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 REFERENCE AND ADMINISTRATIVE DEfAILS Registeréd Charlty Nmber 1133064 Prlncipal addffjss 9 Leahouse Gardens Oldbury 868 8PX Page 5
BIRMINGHAM {WEST) & OLDBURY METHODIST aRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Trustse5 The members of the Birmingham Iwestl and Oldbury Methodlst Circult meetlnB are the Charlty Trustee5. member5hlp belng made up of circult office holders, mlnlsters and representstives appointed by the local churches. CIRCUIT MINISTERS AND OFFICERS Trustees who served between I September 2023 and slgnlng date of account5 to 31 August 2024.. arcult staff Rev M Chisvo Rev N Suray Rev I Chrlstlno de Ollveira Jr Rev 8 Taylor Mrj Cowan Othertrustees Mrs J Tolley Mr F Marius MrT Dlng lappolnted I September 20241 Mr H Nloh lappolnted I September 20241 Dr M Hall Ire518ned 21 September 20231 Mrj Larwood Mr C Haynes Mr E Hall Mrs A Davis Mr J Hadley Ireslgned 31 August 20241 Mr R Atklss Mr L Hamllton Mrs V Gadd lappolnted I September 20241 Mrs C Hallam Mr D Hallam M155 M Scott Mlss C Scott Mlss J Thompson MrA Burrid8e Mr L Parkes Mrs F Houten Mrs R Bissell MrsA Mansell MrsD Knott MrP Knott Mrsl Nott Miss V Leocque Mrs H Butler Mrs K Dell Miss E Homer Mrsj Mosedale Mr G Taylor Mrs D Black Page 6
BIRMINGHAM IWESll & OLDBURY METHODIST CIRCU REPORT OF THE TRUSTEES FOR ThE YEAR ENDED JI AUGUST 2024 Mfs I Clarke Miss O Wllson Mrs V W15son lappolnted I September 20241 IndoperOant Ex•mlMr James Cruse ACA, FCCA I W Hinks LLP Chartered Accountants 19 Hlahfield Aoad Edibastgn Blrmlngham West Mldlands B15 38H Appraved by order of the board of trustees on 2Q March 2025 and $18n•d on its bèhalf by. TNsree Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BIRMINGHAM {WESTI & OLDBURY METHODIST CIRCUIT Independent examlner's report to the trustees of Blrmingham Iwestl & Oldbury Methodist Clrcult I report to the charity trustee5 on my examlnation of the accounts of Blrmingham (Westl & Oldbury Methodist Clrcuit (the Trust) for the year ended 31 August 2024. Responslbllltles and basls of report As the charity trustees of the Trust you are sponSIble for the preparatlon of the accounts In accordance with the requirements of the Charltles Act 20111'the Act'l. I report In respett of my examlnatlon of the Trust's accounts carried out under Sectlon 145 of the Act and In carryln8 Out mv examlnatlon I have followed all appllcable Dlrettlons given by the Charlty Commlsslon under Settion 1451Sllbl of the Act, Independent emmlner's statement I have completpd my examinatlon. I conflrm that no materlal matters have come to my attentlon in connectlon wlth the examlnation glvlng me cause to believe that in any materlal respert: accountlng records were not kept In respect of the Trust as requlred by Sectlon 130 of the Act; or the accounts do not accord with those records,. or the accounts do not comply with the appllcable requirements concernlng the form and content of account5 set out in the Charltles (Account5 and Reports) Regulatlons 2008 other than any requirement that the accourbts give a true and falr view whichls not a matter con51dered as part of an Independent examlnation. I have no concem5 and have come across no other matters in connertlon with the examination to whlch attentlon should be drawn In this report In order to enable a proper understanding of the accounts to be reached. James Cruse AC4 FCCA J W HlnksLLP Chartered Accountants 19 Highfleld Road Ed8baston 81rmlngham West Midlands B15 3BH 20 March 2025 Page 8
BIRMINGHAM IWEST) & OLDBURY METHODIST aRCUIT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 2024 Total funds 2023 Totsl funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Charltable arti¥itiés Assessments from churthes Donations Other 159 159A40 lo,5 5336 161.390 10,005 3.1)JO 10,IX15 5,336 Investment Income Assets from closed churches and galns on flxed a55et Investments 72,222 72,222 30.990 809,585 Totsl 236P98 lo.5 247,003 1,014,970 EXPENDITURE ON Charltable artl¥ltles Support costs Contrlbutlon to Methodlstfunds Grants and donatlons 277,981 147,474 61200 277,981 147A74 66,998 232,906 56,459 44,257 5,798 Totsl 48655 492N53 333,622 NEf INCOMEI(EXPENDITURE) {249,657) 4307 IZ45AS0) 681,348 RECONaLIATION OF FUNDS Totsl funds broughtforward 2,355A03 44,045 2,399A48 1,718,100 TOTAL FUNDS CARRIED FORWARD 2,105,746 48252 2,153,998 2,399,448 The notss form part ofthese financlal statements Page 9
alRMINGHAM Effj & OLDBURV METrIODIST aACUIT BALANCE 5HEEr JI AUGUST2024 2024 T¢)tsl lun 2023 Total fund5 Ljnrestrrcted funds Restrfrted fvnds Notes FIXID ASSETS Tan8ible assets 913,381 913381 460.990 CURREIIT ASSErs Debtor5 Cash at bonk 15,013 1329h66 159,205 1,802,580 &181,214 252 1,196,237 48.Z52 I,W,489 1.961,785 Arnounts fallin8 duè wlthln one year io (3m) P,872) 123,3271 NEr cuAAeNT ASSErs 1,192.365 IJ40,617 1,938,458 TOTAL ASSETS LESS CURRENT UABiullES 1105,746 48,251 1.153,998 2399,448 NEfASSETS IIOS.746 2,153,998 2,399,448 FUIIDS Unrestricted funds Restricted fvnds li Z,105,746 483S2 2,355.403 44,045 TOTAL FUNOS 2,tsa,998 2,399.448 The flnanrlil 5tstern•nts were approved by the 8oard of Trustees and a•Jthorlsed for Issue on 20 March 2025 wer¢ $18ned an Its behalf by., Trustee The notes form part Of these flnanclal ststements Pa8e 10
81RMINGHAM IWE5TI & OLDBURY MHODIST aRCUIT CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash Ilows from operating a¢tlvltles Cash generated from operations {192P45) 143,044 Net cash (used inl/provlded by operatln8 actlvities (192,945) 143,044 Cash flows frorn Investlng actlvitles Purchase of tanglble flxed a55ets Sale of tangible fixed assets Sale of Investment property Interest recelved 1452391) 658,663 350,000 30,990 72,222 Net cash Iused In)/provided by Investlng artlvitles 1380,169) 1.039,653 Change In c and cash equlvalents In the reportlng perfod Cash and cash equNalents atthe beglnnln8 of the reporting perlod (573,114) 1,182,697 1,802,580 619.883 Cash and ¢•sh equlvalents •t the end of the reportln8 perlod 1229N66 1,802,580 The note5 form part of these financlal statements Page 11
BIRMINGHAM (WESTI & OLDBURY MEfHODIST CIRCUIT NOTES TO THE CASH FLOW STATEMENT FOR ThE YÉAR ENDED 31 AUGUST Z024 RECONaLIATION OF NEf IEXPENDITURE)IINCOME TO NETCASH FLOW FROM OPERATING AcfiviTIES 2024 2023 Net {expendlture)Ilncome for the reportlng perfod las per the Statement of Flnancl•l Artlvltlesl Adjustment5 for.. Profit on dlsposaS of fixed assets Interest recelved Decrease In debtors IDecrea5el/lncrease in cred0T$ {245N50) 681,348 1532.6631 130,9901 6.540 18,809 172,2221 144,182 119A551 Net ¢ash (used Inllprovlded by oper•tlons {192,9451 143,044 ANALYSIS OF CHANGES IN NET FUNDS At 1,9,23 Cash flow At 31A.24 Net cash Cash at bank 1.802,580 1573.114) L229A66 1,802,580 1573,114) 1229A66 Total 1.802,580 1573,114) 1,229,466 The notes fomi part of these financial statement5 Page 12
BIRMINGHAM (WESTI & OLDBURY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity. whith Is a publlc benefft entlty under FRS 102, have been prepared in actordance with the Charltles SORP IFRS 102) 'Accounting and Reportlng by Charlties.. Statement of Recommended Practlce applicable to charitles preparlng thelr accounts In accordance wlth the Financlal Reporting Standard appllcable In thÈ UK and Republic of Ireland IFRS 1021 leffertlve l January 20191,, Flnancial Reportlng Standard 102 'The Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland, and the Charltles Act 2011. The flnanclal statements have been prepared under the hlstorlcal cost convention, as modlfled by the revaluatlon of certaln assets. INCOME RECOGNITION Income 15 brought Into account when it Is more likely than not that the economlc benefit of the Income wlll accrue to the circult. No attempt Is mode to rneasure the value of service5 donated by volunteers. RESOURCES EXPENDED Expendlture Is recognlsed when a Ilablllty Is incurred, or a constructfve obligatlon arlses, that resuks in the payment belng unavoldable. Llabilities are recogn15ed as soon a5 an oufflow of economlc benefit is consldered more Ilkely than not under the legal or constructive obllgation commlttlng the clrcult to pay out resource5. GOVERNANCE COSTS These are costs assoclated wlth the general runnlng of the charity and its strate8lc management, rather than the costs of its charltable actlvltles and day to day management. TANGIBLE FIXED ASSETS Fixed assets and Investment propertles are recognlsed at cost or falr valuatlon. DEPRECIAnON Depreclatlon was charged on freehold property up until 31 August 2020 at 2% 5tralght Ilne method. Depreciatlon Is no longer charged on freehold property as the trustees consider the current resldual falr value of the propertles In thelr present conditions to be no less than the value as which they are stated In the Balance sheet. In the absence of any evldence of Impalrment, any potentlal depreclation charges on the properties would be Immaterlal. The three manses (freehold propertlesl, where clrcuit mlnlsters reside, are.. 9 Leahouse Gardens, 2 Wall Close, Smethwlckand 8 Hl¢kmans Close, Halewwen. INVESTMENT PROPERTY Investment property is shown at most recent valuation. Any aggregate surplus or defl¢lt arlslng from Changes In falr value is feco8nlsed In the Statement of Flnanclal ACtltIes, All remaining Investment propertles were 501d durlng the year ended 31 August 2023. Any aggregate surplus or deflclt arising from change5 in falr value 15 recogn15ed in the Statement of Flnanclal Activitie5. TAXATION The charity 15 exempt from tax on it5 charltable activities. Page 13 continued..-
BIRMINGHAM (WEsfi & OLDBURY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNfiNG pouaE5- ¢ontlnued FUND ACCOUNTING Unrestricted funds can be used in accordance wlth the charttable oblectlve5 at the dlscretlon of the trustees. Restrlcted funds can only be used for 5peclfied purFQSe5 Wlthln the oblert5 of the chartty. Restriction5 arlse when specifled by the donor or when funds are ra15ed for speclfied purposes. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS The Methodlst Church operate5 a deflned benefft penslon scheme for its ministers. A deflned contrlbutlon scheme Is operated for lay employees. Contributlons payable to the charlty's penslon scheme are charged to the Statement of Financlal Actlvltles In the period to which they relate. VAT Slnce the Circuit is not VAT registered, all Input VAT Is charged wlth the expenses to whlch It refers. GOING CONCERN The trustee5 assess whether the use of 8olng concern Is approprlate l.e. whether the are any materlal uncertaintles related to events or condltlons that may cast signlflcant doubt on the abillty of the charlty to continue as a goSng concern. The trustees make thls assessmerrt In respect of a perlod of one year from the date of authorlsatlon for Issue of the flnanclal statements and have concluded that the charlty has adequate monetary assets and human resources avallable to contlnue In operatlon a5 a going concern, thus they contlnue to adopt the golng concern basls of accountin8 In preparlng the flnanclal statements. CONSOLIDATION Blrmingham (Westl & Oldbury Methodlst Clrcuit oversees the work of mlnlsters and lay worker5 in the churches wlthin the clrcuit but does not have flnancial control over those churches. For thls reason. the flnanclal statements of the churches wlthin the clrcult are not consolldated into these flnancial ststements. DEBTORS Debtors are recorded at transactlon price. CREDITORS Creditor5 are recorded at transaction prlce. INVESTMENT INCOME 2024 2023 Deposlt account interest 72,222 30,990 Page 14 contlnued..
BIRMINGHAM IWESTI & OLDBURY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YÉAR ENDED 31 AUGUST 2024 INCOME FROM CHARITABLE AcfiviTIES Z024 2023 Actlvlty Assessments from churche5 Donat5ons Other A55essments from churches t)onatlons Other 159,440 10,005 5,336 161,390 10,005 3.WO 174,781 174,395 CHARITABLE ACTIVITIES COSTS Support costslsee note 51 Dlrert Costs Totals Support costs Contrlbutlon to Methodlst funds Grants and donatlons 277,981 277,981 147N74 66,998 147,474 66,998 214,472 277,981 492A53 SUPPORT COSTS Governance Costs Other Totsls Support costs 275.641 2,340 277,981 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneratlon or other beneflts for the year ended 31 August 2024 nor for the year ended 31 August 2023. TRUSTEES, EXPENSES There were no trustee5' expenses pald forthe year ended 31 August 2024 nor for the year ended 31 August 2023. Page 15 continued...
81RMINGHAM IWESn & OLDBURY METHODIST CIRCUIT NOTES TO THE F114ANaAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2024 STAFF COSTS 2024 2023 Wages and salarfes Social security costs Other Fenslon costs 104,929 9,750 24239 102.854 9,239 22,762 138,918 134,855 stsff costs Include stipends pald to mlnlsters and salarles pald to lay workers. The avera8e monthly number of empl¢)yees during the year was as follows: 2024 2023 Min15ters Lay employees No employees received emoluments In excess of £60,000. TANGIBLE FIXED ASSETS Freehold property COST At I September 2023 Additions 512,210 452391 At 31 August 2024 964,601 DEPREaATION At I September 2023 and 31 August 2024 51220 NET BOOK VAWE At 31 Au8USt 2024 913381 At 31 August 2023 460,990 As ar 31 August 2024 the Circult owned 3 man5e512023'. 21. Page 16 continued...
BIRMINGHAM IWEsn & OLDBURY METHODIST aRCUIT NOTES TO THE FINANaAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 AUGUST 2024 DE8TORS: AMOUNTS FAiUNG DUE WITHIN ONE YEAR 2024 2023 Other debtors 23 159.205 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 3n 23,327 ii. MOVEMENT IN FUNDS Net movement In funds Transfers between funds At 31.8.24 At 1.9.23 Unrestrlcted funds General fund Circult model twst fund Property fund Bequests fund 93,139 1,763,342 460,990 37,932 11983931 (53,306 197,161 (649,552) 452,391 92,Th)7 1,060084 913381 3974 2,355A03 1249,657) 2.105,746 Restrlcted fund5 Beglna8en 2 fund 44,045 4,207 48,252 TOTAL FUNDS 2,399,448 1245NSO) 2,153,998 Net movement in funds, Included in the above are as follows: Incomlng resources Resources expended Movement in funds Unrwtrlcted funds General fund Circult model trust fund Bequests fund 170,593 64,356 (s6886) Ill762) 11071 {198.2931 (53,3061 236,998 (486,655) (249,657) Restrirted funds Beginagen 2 fund 10,IJ05 15.798) 4.Z07 TOTAL FUNDS 247,003 1492053) 1245A501 Page 17 continued...
BIRMINGHAM IWESTI & OLDBURY METHODIST CIRCU NOTES TO THE FINANCIAL STATEMENTS- contirned FOR THÉ YEAR ENDED 31 AUGUST 2024 ii. MOVEMENT IN FUND5- ¢ontlnued Comp¥ratlves for rnovement In funds Net movement In funds Transfers between funds At 31.8.23 At 1.9.22 Unrestrlrted funds General fund Clrcult model trust fund Property fund Bequests fund 125,778 434,736 1,086,990 36,556 1132,6391 802,606 loo,000 526,000 1626,0001 93.139 1,763,342 460,990 37,932 1,376 1,684,060 671,343 2,355,403 Restrlrted fvnds 8e8lna8en 2 fund 10.005 44,045 TOTAL FUNDS 1,718,100 681.348 2.399,448 Comparatlve net movernent in funds, Included In the above are as follows.. Incoming resources Resources expended Movement In fund5 Unrestrlcted funds General fund Circult model trust fund Bequests fund 175,787 827,698 1,480 1308,4261 125,0921 11041 1132,6391 802.606 1,376 1,004,965 1333,6221 671,343 Restrlrted fund$ Beglnagen 2 fund 10,005 10,005 TOTAL FU14DS 1,014,970 1333,6221 681,348 Page 18 contlnued.-
BIRMINGHAM (WEST) & OLDBURY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 ii. MOVEME IN FUNDS- contlnued A current year 12 month5 and prior year 12 month5 comblned p051tion Is as follow5: Net movement in funds Transfers between funds At 31.8.24 At 1.9.22 Unrestrlrted fvnds General fund Clrcuit model trustfund Propety fund Bequests fund 125,778 434,736 1,086,990 36,556 1330,9321 749,300 297,161 1123,5521 1173,609} 92,007 1,060,484 913.381 39,874 3,318 1,684,060 421,686 2,105,746 Restrlrted funds 8e8lnagen 2 fund 34.040 14,212 48,252 TOTAL FUNDS 1,718,100 435,898 2,153,998 A current year 12 months and prlor year 12 months comblned net movement In fund5, Included in the above are as follows: In¢omlng resource5 Resources expended Movement In funds Unrestrlcted funds General fund ClrcuSt model trust fund 8equests fund 346,380 892,054 3,529 1677,3121 1142,7541 12111 1330,9321 749,300 3.318 1,241.963 1820.2771 421.686 Restrlcted funds Beglnagen 2 fund 20,010 15,7981 14,212 TOTAL FUNDS 1,261,973 1826,0751 435,898 General fund The general fund represents the surplus free fund5 of the charlty that are not designatsd for particular purposes and therefore available for the aims and objectives of the charity. Ircult model trust fund- deslgnated The circuil model trust fund presents designated funds set aside forthe furtherance of the objectives of the Charity. Propertyfund- designated Page 19 contlnued...
BIRMINGHAM IWEST) & OLDBURY METHODIST CIRCUIT NOTES TO THE FINANCIAL sfATEMENTS- contlnued FOR THE YEAR ENDED 31 AUGUST 2024 ii. MOVEMENT IN FUNDS- corrtlnued The property fund represents de51gnated funds Set aside in respect of propertles Iflxed and investment) held by the charity. Bequests furKI- des*nated The bequestsfund represents a designated funds set aside for any future bequests. Beglnagen 2 fund- restrkted The Beglnagen 2 fund represents a restrlcted fund for communlty proSerts approved by the donor. 12. CONnNGENT UABiullES No ¢ontln8ent liabilltles were Identlfled at 31 August 2024. 13. CAPITAL COMMrrMEKrs At 31 August 2024 the Clrcult had no capital commltments. 14. RELATED PARTY DISCLOSURES The Clrcult recelved assessment Income from the Methodlst churche5 In the clrcult totalllng E159,440 12023: £161,390>. The clrcult pald to 81rmlngham Methodist Dlstrlct £147.47412023.. £56,459> for contrlbutions to Methodlst church funds at dlstrlct and connexlonal level. Page 20