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← Trinity Methodist Circuit

2023-08-31-accounts

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….. leading, facilitating and resourcing local churches in worship, discipleship, service and mission

Trinity Methodist Circuit (25/19) Sheffield District

Trustees’ Report and Financial Statements For the year ended 31[st] August 2023

Charity Registration Number: 1133071

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TRINITY METHODIST CIRCUIT TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2023

Introduction

The Circuit Stewards present their report along with the financial statements of the Trinity Methodist Circuit for the year ended 31 August 2023. The financial statements have been prepared in accordance with the attached accounting policies.

1. Reference and Administrative Details

The Charity's annual report and accounts for the year ended 31 August 2023 have been prepared in accordance with the Charities Act 2011 and the Charities: Statement of Recommended Practice 2015 as applicable to the Financial Reporting Standard (FRS) 102.

Trinity Methodist Circuit Registration Charity Number: 1133071 Date of registration 02/12/09

Main communication address The Crossing Church
Newcastle Street
Worksop
S80 2AT

The members of the Trinity Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches. Full membership is shown as Appendix A to this report.

Circuit Ministers and officers

Active Circuit Ministers:

Active Circuit Ministers:
Rev J Coates Superintendent
Rev M B Burton Supernumerary Presbyter (appointed 01.10.22)
Rev M J Cantrill Anglican Presbyter / Authorised Methodist Presbyter
Rev P Macdonald Supernumerary Presbyter (appointed 01.9.23)
Rev A Pothecary
Deacon Emily Hoe-Crook
Deacon David Bean Anglican Deacon / Associate Methodist Deacon

Circuit Stewards:

Mr S Welchman Mr K M Abel (resigned 13.9.23) Mrs H Bennett Mrs J Fuller (appointed 13.9.23)

Operations Manager

Mr R Dearden

Administrators :

Mrs D Welchman Mr D Burton Independent examiner: Mrs H Rotherham

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Central Finance Board of the Methodist Church Trustees for Methodist Church purposes CAF Bank Ltd.

Investment Bankers:

2. Structural Overview

Aims and organisation

The Charity objective is to act as a Resource provider within the area around Retford, Worksop & Kiveton for the Methodist Church:

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

a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;

b) Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of The Methodist Church;

c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;

d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church

In fulfilling these purposes the Circuit promotes and supports:

The Circuit seeks to live out the calling of the Methodist Church, which is summarised this:

‘The Calling of the Methodist Church is to respond to the Gospel of God’s love in Christ and to live out its discipleship and:

Public Benefit

The Circuit provides support for the ministry team that ensures regular acts of worship take place at each of the Methodist Churches in the geographical area. Acts of worship are open to all people, without charge.

We confirm the Trustees have had regard to the Charity Commissions guidance on public benefit.

Structure, Governance and Managemen t

The governing document for the Circuit is the Deed of Union (1932) and Methodist Church Act (1976).

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).

Day to day management of the circuit is undertaken by the Circuit Leadership team along with the Local Preachers meeting, the Circuit Finance and Property Committee and the Circuit Policy Committee.

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Trustee Training

A range of guidance produced by Methodist Connexion to support the effective running of the circuit, specifically the leaflet 'The Role of a Trustee in The Methodist Church' is given to all new Circuit meeting members as induction to their role as trustees.

Related Parties

The Circuit is part of the Sheffield District and is also accountable to the Methodist Conference. The following Methodist Churches are linked to the circuit: Carlton, The Crossing, Dinnington, Grove Street, Hallcroft, Leverton, North Anston, South Anston, Wales, Wheatley, Whitwell and Woodsetts (closed October 2021).

Risk Management

The major risks have been identified and recorded by the Circuit Finance and Property Committee with professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and Expenditure is being monitored in total and is compared with the approved annual budget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.

Safeguarding

Every person has a value and dignity which comes directly from the creation of male and female in God's own image and likeness. Christians see this potential as fulfilled by God's recreation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

Methodist Connexional practice outlines commitment to the following principles:

We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes.

We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation.

We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care.

We will seek to challenge any abuse of power, especially by anyone in a position of trust.

We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult. In all these principles we will follow legislation, guidance and recognised good practice.

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The Trinity Methodist Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches.

The Trinity Methodist Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.

3. Trinity Circuit Mission Statement

Our Vision The vision of our Circuit is to be an inspiring and enabling agency in our Churches’ mission.

Our Mission The mission of our Circuit is to lead, facilitate and resource the lives of our Churches, within their communities, in their work of Christian worship, service and outreach.

The Circuit assists the Churches with practical governance issues to release members for mission, and ensures ministry is offered in collaborative, innovative and supportive ways.

Our Policy

In Worship we will:

In Discipleship (learning and caring) we will:

In Service we will:

In Mission (evangelism) we will:

This was revised in June 2020. It is designed to be a living document and will be reviewed regularly with reports made on each section in turn at Circuit Meetings.

4. Annual Performance Review 2022-3

This year was a relatively stable one in terms of staffing with some important decisions made to shape the Circuit’s future direction.

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Rev Julie Coates began her role as Deputy Chair of District in September, knowing that this would become a major commitment from June 2023, when Rev Gill Newton became President of Conference.

Rev Angela Pothecary has welcomed the move to a 0.67 appointment (8 sessions a week) and Rev Meg Burton (0.33 appointment), has settled in well at South Anston and Carlton to enable Angela to reduce her hours.

Julie was able to take her 3-month Sabbatical from early May and completed a number of heritage-related projects focusing on the Retford end of the Circuit, which will be particularly valuable to the redevelopment of The Grove and its future mission.

During her sabbatical Julie went through the re-invitation process, and a 3-year extension of her appointment from September 2024 was agreed.

Deacon Emily Hoe Crook was ordained in Coventry in June 2023, following a District Ordinands’ Service at the Crossing, and a coach load of supporters from across the circuit shared in a very moving service. Ironically she then went almost immediately into the reinvitation process as well. Feedback was requested from members at The Crossing and South Anston as well as representatives of other agencies in the Worksop area in recognition of the distinctive diaconal ministry practiced by Emily. The request for a two-year extension from 2024 was approved.

In addition our Operations Manager, Richard Dearden, completed his initial three-year appointment and his post was made permanent in recognition of the valuable work he is doing for the circuit.

Congregations across the circuit continue to seek a way forward.

South Anston took the initial decision to remove the pews from the Sanctuary and a redevelopment programme is now underway. Increased community engagement, in particular with young families, through the team work of Meg and Emily, is providing encouragement to the whole congregation.

The Grove: working to the vision described as ‘The Growth of The Grove’, the church received a number of significant grants to enable ongoing development work on the building to take place. Its plans to redevelop the sanctuary by replacing the heating system, levelling the floor at the front of the church and installing a new audio-visual and streaming system have been approved, with work likely to be completed by Easter 2024. A planning group has begun considering how to relaunch The Grove once the work is finished, so that it can become a well-used community resource in the heart of the town.

In December 2022 The Grove and Hallcroft Methodist Churches began a new initiative in partnership with Rhubarb Farm called CommuniTEA – a way of gathering members of the local community together for a meal. Like many churches Hallcroft held a special celebration to mark the coronation in May 2023.

January 2023 saw the planned closure of Wheatley Chapel with a view to consolidating the ecumenical partnership which exists with the Church of England in one building. The sale of the Chapel will release funds which will be used to improve facilities within the Church.

As well as having joint services with other parts of the Clays Group, Leverton continues to hold Breakfast Church once a month.

The congregation at Whitwell now meets three times a month, twice on site and once on Zoom.

The members at Wales are putting together plans for regular Sing and Soup events to support those with dementia and their carers.

The pattern of worship introduced at North Anston to include a Café style service on the same to build on the Messy Place work is now well established. The members from the church also take part in a monthly service at Woodlands Care Home.

Carlton Chapel and Dinnington Chapel are both facing challenging financial circumstances and declining human resources. Both churches are actively considering the best way forward to maintain a viable Methodist witness in the local community. Carlton was supported by the

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local council with a grant to install broadband. Some initial community research was undertaken in Dinnington – and the church received Circuit support in the form of a six months reprieve from assessment payments.

There has been some experimentation with worship patterns at The Crossing – for example café style worship at tea time and at breakfast time has been trialled. The church continues to face significant financial issues and volunteers to take on key posts are hard to find. An unexpected financial legacy has given them a financial boost – the church council members are keen to ensure that this is spent in a significant way to forward the vision of the Church.

The bi-monthly Circuit Chat, introduced in January 2022 has been well received and has highlighted much good work being carried out across the circuit. It is meeting the aims set out below very effectively:

The Circuit website was relaunched during the summer of 2023 and continues to develop,

Circuit conversations about mission have continued as it becomes more and more clear that a reshaping of the circuit will be needed to preserve its future.

5. Moving Forward

As a part of reshaping the circuit and its focus it was decided to seek funding for two new lay posts: a Volunteer Co-ordinator and a Facilities and Community Manager for The Crossing and The Grove. If successful, these appointments will be made in 2024.

Having been fully involved in the Stationing Process in summer 2023, decisions regarding the appointment of Rev Angela Pothecary, will be made during 2024 as she prepares to enter her fifth year in the circuit in September 2024.

After 29 years in post the Circuit Administrator, Diane Welchman, will be retiring in 2024 – her regular communications and in depth knowledge of the Circuit will be greatly missed.

In line with the Connexional reminder that we are a ‘Justice Seeking Church’ we have implemented training for all key officers in Equality, Diversity and Inclusion.

We continue to be helped by the District initiative ‘For such a time as this’ which invites churches to use the post Pandemic period to think carefully about how they can more effectively respond to the challenges they face in their local context. ‘For such a time as this’ has identified six priorities to help churches fulfil their calling:

The Circuit has embraced this strategy and our Operations Manager is helping us simplify administrative procedures and reduce the administrative burden laid on our ministers. We continue to look critically at our properties to ensure that they are fit for mission and to assess the viability of each congregation in terms of membership, financial strength and potential to recruit suitable office holders. Key decisions about the future of several societies will have to be made in the next few years as human and financial resources diminish.

We are still awaiting outline planning permission to be in place before we put the former chapel at Woodsetts on to the market.

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During 2022-3 the Circuit sought to sell two of its manses to raise additional funding for the mission of the circuit. The Gala Way manse sold relatively quickly and a sum close to the asking price was achieved. Plans to sell the Whitwell manse sadly stalled because the tenants were unable to move out, legal advice was sought as to the best way to proceed. (This situation has now been resolved and plans for the sale of the property are in hand.)

We continue to envisage that the future shape of the circuit will be around three main hubs at Retford, Worksop and Anston / Dinnington, and future funding decisions will be made with that in mind.

6. Financial Overview

Introduction

The Circuit provides for:-

There is a general Unrestricted Fund, a Model Trust Fund, which is available for buildings, new projects and general expenditure of the Circuit, and restricted Bequests Funds.

Interest received from the Bequest Funds is available for general use.

Unlimited amounts may be drawn from the Circuit Model Trust Fund for general use upon application. The Circuit is governed by the Circuit Meeting which oversees the whole life of the Circuit. The Leadership Meeting which has authority to act on behalf of the Circuit Meeting to take forward the Circuit Policy and to consider and recommend to the Circuit Meeting areas of new policy.

Review of the year

We have 40 trustees.

The outstanding loan to Carlton remains at £40,000. A loan of £13,000 made to The Crossing in 2020 for essential works to their heating controls; this is being repaid by monthly instalments of £100, the amount outstanding at 31[st] August 2023 is £9,800.

A draw down of £100,000 was made from the Model Trust Fund to meet general expenditure in 2022/23

The Circuit continues to successfully fulfil its Mission Statement which is continually reviewed and will be updated as required.

Income trends

Circuit income is primarily drawn from the assessment paid by the Circuit Churches. With the ongoing impact of Covid-19 and financial insecurity experienced by a number of churches, there is a likelihood of reduced income from Assessments in future and this will need to be monitored carefully. Two quarters assessment payments due from Dinnington Methodist Church were waived during this year. The lettings income relates to the rental of 3 manses, one of these manses was sold during the year, and second is to be sold in 2023/24. Other income is generated from printing, recharged expenses and sundry items. The Circuit was fortunate to be awarded a £30,000 grant over three years to support the appointment of an Operations Manager, the final instalment of £8,000 was made in this current financial year.

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Expenditure trends

Stipend expenditure has increased each financial year in line with conference approved increases.

15% of expenditure is the Circuit contribution to the District and Connexion, of which a significant part is used to fund the work of the wider Methodist Church.

Fund balances

As at 31 August 2023 the net current assets of the Circuit were £339,291, giving approximately 17 months cover for expenditure.

Plans for 2023/24

Circuit financial plans for the coming year have been prepared on the basis that there will be 2 full time and 3 part time ordained members of staff with anticipated cost of living stipend increases, one of these part time posts is to be funded by a grant from the connexion. A 5% increase is anticipated in the Assessment paid to the district.

Reserves Policy

It is the policy of the Circuit to maintain unrestricted funds at a level which is sufficient to cover twelve months running costs.

Investment policy

Surplus funds in the General Account are invested in the Methodist Church Central Finance Board. Bequests Fund, where the capital is used to generate income for general use, is similarly invested.

Circuit Stewards responsibilities in relation to the financial statements

The Circuit Stewards are responsible for preparing a circuit annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Circuit Stewards to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and statements for application of resources, of the charity for that period. In preparing the financial statements, the Circuit Stewards are required to:

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The Circuit Stewards are respon￿ble for keeping woper accAwnting records that dSsclos8 hwlh reasonable accuracy al any time the financial position of the tharity and to enable them to ensure that the fina￿la1 statements comply with th8 Charities Act 2011, the applicable Charities (Accounts arKI Rep￿ts) Regukb'ons, and the provisions of the Trust Deed. They are also responsib￿ for safeguarding the assets of the tharity and taking reasonalJe slep$ for the preventson and detection offraud and olher irregularitios. The Cir¢uit Slw¥ards aro rwonsible for the maintenance and integrity of the charity and financial infom12tson ineludèd on tho ehgrity's w•bsit9 in 9ccord2￿ vAlh1￿ls1ati0n in the Lkni18d Kingdorn oovèming the ty8par3b.on and dissemination of financial stslemenls. AFproved by Cir¢urt Stewards on * March 2024 ond sl9￿ on Ihelr behalf by.. - Syrintendent Mlnistsr - cIr￿lt Ste•¥ard 10

Trinity Methodist Circuit

Circuit No 25/19

Statement of Financial Activities (SOFA) for the year ended 31 August 2023

Income Notes to
the
accounts
General Fund
(Unrestricted)		 Circuit Model
Trust
(Unrestricted)		 Designated
Funds
(unrestricted)		 Restricted
Funds		 Endowment
Funds		 Total
2022-23
£
£
£
£
£
£
1 Donations and legacies - - - - - 0
2 Income from monetaryinvestments 1,583 2,929 - 3,713 385 8,611
3 Income from investmentproperties 18,872 - - - - 18,872
4 Assessments on Churches 129,532 - - - - 129,532
5 Capital Receipts - - - - - 0
6 Grants received 8,000 - - - - 8,000
7 Other charitable income 14,993 - - - 10,680 25,673
8Total income 172,979 2,929 - 3,713 11,065 190,687
Expenditure
9 Grants and donations 1,474 10,660 - 69,340 - 81,474
10 Salaries and associated costs 172,281 - - - - 172,281
11 Propertymaintenance 7,557 - - - - 7,557
12 Connexional assessment & model trust levy - 52,181 - - - 52,181
13 District Assessment & Levy 35,951 2,421 - - - 38,372
14 Depreciation - - - - - 0
15 Office expenses 8,658 - - - - 8,658
16 Other outgoings 25,658 276 - 339 34 26,307
17Total charitable expenditure 251,578 65,537 0 69,679 34 386,829
18 Gains/(losses)on monetaryinvestments - 842
-		 - 533
-		 35
-		 -1,410
19 Gains/(losses)on investmentproperties 4,157
-		 - - - - -4,157
20Net income/(expenditure) -82,755 -63,450 0 -66,499 10,995 -201,709
21 Transfers between funds 68,954
-		 70,452 - 1,336
-		 162
-		 0
22 Othergains/(losses) - - - - - 0
23Net movement in funds -151,709 7,002 0 -67,836 10,833 -201,709
24 Total funds brought forward 2,561,400 147,827 - 119,026 1,538 2,829,790
25 Total funds carried forward 2,409,691 154,829 - 51,190 12,371 2,628,081

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Trinity Methodist Circuit

Circuit No 25/19

Statement of Financial Activities (SOFA) for the year ended 31 August 2022

Income Notes to
the
accounts
General Fund
(Unrestricted)		 Circuit Model
Trust
(Unrestricted)		 Designated
Funds
(unrestricted)		 Restricted
Funds		 Endowment
Funds		 Total
2021-22
£
£
£
£
£
£
1 Donations and legacies - - - - - 0
2 Income from monetaryinvestments 113 1,395 - 597 12 2,117
3 Income from investmentproperties 20,667 - - - - 20,667
4 Assessments on Churches 133,913 - - - - 133,913
5 Capital Receipts - - - - - 0
6 Grants received 10,000 - - - - 10,000
7 Other charitable income - - - - - 0
8Total income 164,694 1,395 - 597 12 166,697
Expenditure
9 Grants and donations 8 513 21,700 - - - 22,213
10 Salaries and associated costs 9 167,376 - - - - 167,376
11 Propertymaintenance 4,214 - - - - 4,214
12 Connexional assessment & model trust levy 0
13 District Assessment & Levy 35,951 8,745 - - - 44,696
14 Depreciation - - - - - 0
15 Office expenses 10 7,894 - - - - 7,894
16 Other outgoings 11 27,531 641 - 343 4 28,519
17Total charitable expenditure 243,479 31,086 0 343 4 274,912
18 Gains/(losses)on monetaryinvestments 1,329
-		 - 1,291
-		 81
-		 -2,701
19 Gains/(losses)on investmentproperties 356,537 - - - - 356,537
20Net income/(expenditure) 277,752 -31,020 0 -1,037 -73 245,622
21 Transfers between funds 100,135 100,000
-		 - 132
-		 -4 0
22 Othergains/(losses) 40,000 - - - - 40,000
23Net movement in funds 417,887 -131,020 0 -1,168 -77 285,622
24 Total funds brought forward 2,143,513 278,846 - 120,194 1,615 2,544,168
25 Total funds carried forward 2,561,400 147,827 - 119,026 1,538 2,829,790

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Trfnlty Mothodlst Cirudt Cweult No 25119 Balance Sheet as at 31 August 2023 Totsl• TolAI Cirttht M￿$8 14 1.122.010 1,140,451 1.122.019 IMJ6.325 1.420.754 27.731 2.4M81 ITN85trnem 158 15b 6,841 28.320 Z3K470 13.8n 11.1 13.873 00,802 142.2TO 10,W3 e2.102 189.659 Lo•n¥ byW 16 TMCP Conwai FinAr￿ BoArf 04&¥￿ Cmh lll In hllr 11.873 137.788 137.786 g.SS6 34• 970.403 Cuff•rrt Il•WNYS•• CthJltorn l¢Ju•ln 1 yw) Grydntr F4 blg wthln 2021-TJ 22.868 25.42J 22.189 339.291 25,42J 14T.Z21 .1 11572 2.121011 2,129.79D Loni t•rm Il•blllW du• •ft•r mornth•n on• GrHnts bl• #ft•r))22.23 Lo•N t¢ b)• Ciwi 1409,691 154.029 51,190 12.J72 1021.011 Z,821,790 Punth o11fr• G•n8fAI Fun¢ untysii(J c￿¢￿IKtr)d•1 TIy•i IUnryiM¢t•oJ Dwwed FundslUff*e6btknJi 2.•J9.Wl 2.40B.691 154.829 2.561.4C 147.827 151.829 2,7Q1321 119.026 Fun¢¥ 51.1 $1.19) 12.372 12.372 row FvrKI4 1409,691 1$4.829 51,190 12,J72 2A29.081 2,829,790 s￿r￿d circ￿11 TreayJrer 13

Trinity Methodist Circuit

Notes to the Accounts For the year ended 31 August 2023

1. Basis of accounting

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS102 – the Charities SORP (FRS102) and taking note of the Update Bulletin 1 issued in 2016.

2. Funds

The funds held constitute:

Details of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash.

3. Accounting policies

Basis

These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year, on the accruals basis to show a true and fair view of the Circuit’s financial position and activities.

Public benefit entity

The Trinity Methodist Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transactional value unless otherwise stated in the relevant accounting policy note.

Content

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research and judgement. The accounts are expressed in £ sterling, being the functional currency, rounded to the nearest pound.

Going concern

Based upon the resources available to them, at 31 August 2023, the trustees consider that the circuit is a going concern.

Income Recognition

Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.

Resources Expended

This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.

Grants

Grants made by the Circuit from its own funds are recognised in full at the time of agreement or when the Circuit accepts that there is a legal or operational obligation to make the payment. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.

VAT

Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

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Tangible fixed assets for use by the Circuit

Tangible fixed assets for use by the Circuit are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: Equipment – 25% reducing balance basis.

Held within fixed assets are six properties purchased as manses by the Circuit. From 1[st] September 2021 three manses are occupied by ministers and three rented out on short term tenancies and included as Investment Properties. The trustees consider that having reviewed the market value of the properties held as manses that this is in excess of the original cost and therefore no depreciation is required to be provided.

Investment Properties

Investment properties are properties originally purchased as manses but where no minister is in occupation. The trustees have rented out these properties on short term tenancies generating rental income for the Circuit. These properties were included in the 2016/17 accounts at their estimated fair values based upon the website Zoopla.com valuations of similar properties and market trends. Since 2017/18 adjustments have been made to estimate their fair value based on insured value.

Investments

Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.

Debtors and Prepayments

Debtors includes the payment of the September stipend in August and loans to churches within the Circuit.

Creditors

Creditors include both sundry expenses and specifically the 1st quarter assessment received in August.

Pensions

The Circuit contributes to the Methodist Ministers Pension Scheme which is a defined benefit scheme. The scheme is a multi-employer pension scheme and it is not possible to identify the assets and liabilities of the scheme which are attributable to the Circuit. The scheme is accounted for as a defined contribution scheme.

The Circuit also contributes to private pension schemes of lay workers and administrative staff.

Contributions are recognised in the SOFA in the period in which they become payable in accordance with the rules of the scheme.

4. Income from Investment Properties

Properties purchased as manses which are not required to house a Minister are let on Shorthold Tenancy Agreements. The Net income for the year ending 31[st] August 2023 is £20,667..

5. Assessments on Churches

The amount of assessment paid by each Church is negotiated between the church and Circuit Leadership Team with the exception of LEP’s where their assessment is determined by formula according to their constitution.

6. Payment to Trustees

2022/23
Number of Trustees who were paid expenses
-
Total amount
-
7. Fees for examination or audit of the accounts
Independent examiner’s or auditor’s fees for reporting on the accounts
Other fees (eg: advice, accountancy services) paid to the independent
examiner or auditor		 2021/22
-
-
2022/23
£

0
0		 2021/22
2021/22
£
-
-

0		 0
0 0

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8. Grants

Grants made during the year were:
Grove Street building scheme
£
Whitwell proceeds of sale
£
Computers for Ministry
£
The Crossing re Cost of Living payments
£
Total grants
£		 2022/23
80,000
0
704
770
81,474		 2021/22
80,000 0
0 21,700
704 513
770 0
81,474 22,213

9. Paid employees

Staff Costs paid during the year were:
Gross wages, salaries and benefits in kind
£
Employer’s National Insurance costs
£
Pension costs
£
Apprenticeship levy
Total staff costs
£
Average number of full-time equivalent employees in the year:		 2022/23
137,613
11,341
22,581
746
172,281
6		 2021/22
130,813
11,849
23,972
742
167,376
6 6

10. Office Expenses

Office Telephones
Manse Telephones and Internet
Printing
Office Rents
Stationery
Postage
Other Office Costs
Total Office Expenses		 2022/23
£
898
2,308
1,830
2,000
603
119
899
8,657		 2021/22
£
898 983
2,308 1,984
1,830 808
2,000 2,000
603 489
119 166
899 1,464
8,657 7,894

11. Other outgoings

Utilities & Insurance for Circuit properties
Travel costs
Quinquennial inspections
Accountancy & independent examination
Fund administration
Removals & Relocation costs
Resources for Ministry
Training
Miscellaneous
Total Other outgoings		 2022/23
£
13,917
6,409
2,100
-
650
-
820
259
2,152
26,307		 2021/22
£
13,917 13,576
6,409 4,465
2,100 4,020
- -
650 988
- -
820 1,266
259 10
2,152 4,195
26,307 28,520

12. Capital Commitments and Contingent Liabilities

At 31 August 2023 there are no capital commitments.

No contingent liabilities were identified at 31 August 2023.

16

13. For information only Money received and passed on to External Organisations

Balance brought forward from last year
Offerings/Gifts - received for External Organisations
Offerings/Gifts - passed to External Organisations
Balance carried forward		 2022/23
£
0
0
0
0		 2021/22
£ £
0 0
0 0
0 0
0 0

14. Tangible Fixed Assets

Cost or valuation

Cost or valuation
Land
£		 Manses
£		 Other
buildings
£		 Fixtures,
fittings
and
equipment
£		 Payments
on account
and assets
under
construction
£		 Total
£
Balance B/F - 996,325 40,000 - - 1,036,325
Additions - - - - - -
Revaluations (+/-) - 85,694 - - - 146,997
Disposals (-) - - - - - -
Transfers*(+/-) - - - - - -
Balance C/F - 1,082,019 40,000 - - 1,122,019

Accumulated depreciation

Balance B/F - - - - - -
Depreciation charge
for year (-)		 - - - - - -
Revaluations (+/-) - - - - - -
Disposals (-) - - - - - -
Transfers*(+/-) - - - - - -
Balance C/F - - - - - -
Net book value
Brought forward - 996,325 40,000 - - 1,036,325
Carried forward - 1,082,019 40,000 - - 1,122,019

The amount included in Freehold Property represents the cost of manses for use of the Circuit. Any surplus manses that are rented out on short tenancy agreements are transferred to Investment Properties. The manses have been revalued this year on the basis of insured value.

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15. Investment assets

a. Investment Properties

Manses Total
£ £
Balance brought forward 1,420,754 1,420,754
Additions - -
Revaluations (+/-) 90,322 90,322
Disposals (-) - -
Transfers (+/-) (370,625) -
Balance carried forward 1,140,451 1,140,451

Manses held as investment properties have been revalued on the basis of insured value.

b. Other Investments

The funds that support the Circuit Model Trust Fund and Bequest Fund are held by TMCP in the Trustees Interest

Analysis of investments movements

This year Prev year
Investments listed on a recognised Stock Exchange - -
Investments held in common investment funds 26,320 27,731
Securities not listed on a recognised Stock Exchange - -
Other investments - -
Total 26,320 27,731
Change in investment values
Carrying (market) value at beginning of year 27,731 30,431
Add:additions to investments at cost - -
Less:disposals at carrying value - -
Net gain/(loss) on revaluation (1,411) (2,700)
26,320 27,731

16. Loans

The Circuit does not have any loans.

The Circuit has made the loans to Carlton, and The Crossing to be repaid within an agreed length of time. The amounts outstanding as at 31 August 2023 were:

Carlton £40.000 The Crossing £20,902 Total £60,902

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17. Detailed analysis of individual fund movements 2022-23

Unrestricted Funds
Unrestricted Fund
Name		 Opening
Balance		 Incoming
Resources		 Resources
Expended		 Transfers
Gains/
Losses		 Closing
Balance		 Purpose of the
fund
General 2,561,400 172,979 (251,484) (69,047) (4,157) 2,409,691 General use
Circuit Model Trust 147,827
2,929		 (65,537) 70,452 (842) 154,829 General use
Totals 2,709,227 175,908 (317,021) 1,405 (4,999) 2,564,520
Restricted Funds
Restricted Fund
Name		 Opening
Balance		 Incoming
Resources		 Resources
Expended		 Transfers
Gains/
Losses		 Closing
Balance		 Purpose of the
fund
Ragsdale, Trust 16499 41,976 1,332 (120) (1,212) 0 41,976 Model Trust
bequest
Anonymous gift, Trust
7544		 7,374 145 (21) (124) (533) 6,841 Available with
restrictions
Development Fund ex
Tuxford 15648		 446 14 (441) 0 0 19 Available with
restrictions
Sale of Laxton ex
Tuxford17028		 69,229 2,222 (69,097) 0 0 2,354 Local Model Trust
Capital
Totals 119,025 3,713 (69,679) (1,336) (533) 51,190
Endowment Name How the
capital
is
invested		 The current
value of the
capital		 Nett Annual
Income		 What the income is
used for
Fletcher,Trust1271 TMCP 878 21 Generaluse
Towne,Trust4388 TMCP 505 15 Generaluse
BriggsMemorial,Trust1190 TMCP 122 4 Reinvested
RHGoacher Bequest,Trust15939 TMCP 10,866 125 Reinvested
Totals 12,371 165

The reason for the transfers between funds were as follows: To meet general expenditure

19

Declarations and Scrutiny I confim that th8S8 accruals-based accounts for the year to 31 August 2023 have been prepared from the records of the Circuit arKI Ihat they include all furmls under the control of the Circuit meeting. s￿natUre of treasurer Date Name arKI address of treasurer. Mr s￿nCer Welcmian 8 Rutland Road R8tford ON22 7HF Pres•nlatlon to tho Clrcult Moollnq I ￿nfirM that the annual resX)rt and xcounts for the year ended 31° August 2023 have been presented to the Circurt meeting héld on 4th March 2024. S￿natUre of the Chair of the me81ing Name of the Chair of the meeting Revd Julie Coates Date 29.05.2024 20

Independent Examiner’s Report to the Trustees of the

Trinity Methodist Circuit 25/19 Charity Number 1133071

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the Trinity Methodist Circuit for the year ended 31 August 2023 set out on pages 11 to 19. As the Circuit’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

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

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which give me cause to believe that in, any material respect:

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

I have not obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date.

Signature of independent examiner ………………………………………………………. Name of independent examiner Heather I Rotherham

Relevant professional qualification of independent examiner HNC Business Studies

Name of firm (where appropriate) N/A

Address

14 Waterthorpe Rise

Westfield Sheffield S20 8NA

17th June 2024

Date

…………….…………………………………………

21

TRINITY METHODIST CIRCUIT

Appendix A

Trustees of Trinity Methodist Circuit

Mr KM Abel resigned 13/09/23
Mrs S Baggaley
Mr M Bagshaw
Mr GR Bennett
Mrs H Bennett
Mrs S Boyles
Mrs B Bradley
Mrs K Bradley
Mr GW Brown
Mr D Burton
Rev MB Burton appointed 01/10/22
Mrs G Cawthorne
Rev JI Coates
Mr R Coyne appointed 01/09/22
Rev FM Ferriter appointed 01/09/22
Mrs B Foster
Mrs J Fuller appointed 13/09/23
Mr P Hinchliffe
Mrs V Hinchliffe
Rev A Hindmarch appointed 01/09/22
Mrs H Hindmarch appointed 01/09/22
Mrs JM Hodgson
Dea E Hoe-Crook
Mr J Horsfield appointed 01/09/22
Mr JL Jenkin
Mrs Y Jones appointed 01/09/22
Mr AE Laurie
Mrs S Osborn
Rev A Pothecary
Mrs NJ Rowson
Mrs D Sidney
Mrs J Smith
Mrs K Smith
Mrs JM Sykes
Mrs J Thomas
Mr C Walker
Mrs SJ Walker
Mrs AD Welchman
Mr WS Welchman
Mrs A Westerby
Mrs J Westerby
Mr G Wynne deceased 25/11/22

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