2024-08-31-accounts - Trinity Methodist Circuit

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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 2024

Charity Registration Number: 1133071

TRINITY METHODIST CIRCUIT TRUSTEE'S ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024

Introduction

The Circuit Stewards present their report along with the financial statements of the Trinity Methodist Circuit for the year ended 31 August 2024. 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 2024 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

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

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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:

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||| |---|---| |Rev J Coates|Superintendent| |Rev M B Burton|Supernumerary Presbyter| |Rev M J Cantrill|Anglican Presbyter / Authorised Methodist Presbyter| |Rev P Macdonald|Supernumerary Presbyter (appointed 01.9.23 – resigned 31.08.24)| |Rev A Pothecary|Presbyter| |Deacon Emily Hoe-Crook|Deacon| |Deacon David Bean|Anglican Deacon / Associate Methodist Deacon|

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Circuit Stewards:

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

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Associate member of the Leadership team

Rev’d Bob Heathcote (appointed 13.9.23)

Operations Manager

Mr R Dearden

Facilities and Community Manager

Mrs C Biddle (appointed 18.3.24)

Volunteer Coordinator

Mr J Hicks (appointed 4.3.24)

Administrators :

Mrs D Welchman (resigned 30.4.24) Mr D Burton Independent examiner: Mrs H Rotherham

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

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 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 institutions.

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:

To increase awareness of God’s presence and to celebrate God’s love;
To help people grow and learn as Christians through mutual support and care;
To be a good neighbour to people in need and to challenge injustice;
To make more followers of Jesus Christ’

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.

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 (closed June 2024) 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:

The care and nurture of, and respectful pastoral ministry with, all children, young people and adults.
The safeguarding and protection of all children, young people and adults when they are vulnerable.
The establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse.

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.

4 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.

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:

Offer, through the Circuit Plan, creative worship rooted and grounded in each context which enables people to encounter God.
Discern the gifts and skills of people for use in worship and provide the means of training and ongoing development of preachers and worship leaders.

In Discipleship (learning and caring) we will:

Assist congregations in sharing testimony, leading people to faith in Jesus and then nurturing them in that faith through opportunities for study, prayer and fellowship.
Help members to discern their vocation.
Ensure the safeguarding and protection of all.
Set up and develop local structures to encourage pastoral care to be practised.

In Service we will:

Encourage people to be good neighbours in their community, to challenge injustice and to use their resources to support the Church in its mission to the world.
Engage with initiatives from the District Synod and Methodist Conference to raise awareness of contemporary concerns and to provide a prophetic voice.
Build partnerships with schools, care homes and other community agencies.

In Mission (evangelism) we will:

Provide training and resources so that we can all express our faith effectively to others, within our context.
Encourage churches to consider their mission as something to be done in partnership, particularly with ecumenical neighbours.
Build on the rich heritage of our past.

This was revised in June 2020. It is designed to be a living document and has been reviewed regularly with reports made on each section in turn at Circuit Meetings. A thorough review is planned for 2025/26

4. Annual Performance Review 2023-24

This year has included several changes within the Circuit staff team to support the forward strategy of the Circuit.

We were sad to see Keith Abel stand down as Circuit Steward but pleased to welcome Joy Fuller as a new Circuit Steward and Rev Bob Heathcote as an associate member of the Leadership team.

As Deputy Chair of District Rev Julie Coates’ responsibilities grew throughout the year as Rev Gill Newton became President of Conference. We were very grateful to have support from Rev Philip Macdonald throughout this time with his role funded by the Connexion.

We were pleased to confirm with Rev’d Meg Burton that her work at Carlton and South Anston will extend until August 2025

During the year the Circuit Invitation Committee led a re-invitation process with Rev Angela Pothecary. The process involved talking to churches and external organisations that Angela has been working alongside and we have been happy to agree an extension until August 2026.

We were delighted to welcome two new members of staff to the team in March 2024. Clare Biddle joined us as Facilities and Community Manager and Joe Hicks as our part time Volunteer Coordinator both working at The Crossing and The Grove. Both roles are funded through a mixture of UK Shared Prosperity funding, District, Circuit and Church monies with Clare and Joe being managed by our Operations Manager Richard Dearden.

Having received a flexible working request from Richard Dearden in the year we have been pleased to agree a four day working pattern for his full time hours to accommodate his growing care responsibilities within his family.

Di Welchman retired from her role as Circuit Administrator in April 2024 and left with our very best wishes and grateful thanks for her work in the Circuit.

Much progress has been made by churches across the circuit as they develop to meet the changing needs of their communities.

South Anston successfully completed their internal refurbishment project to see pews removed and the space opened up to offer more flexible worship options and opportunities to engage with the wider community.

The Grove: significant property developments were completed throughout the year including essential stonework repairs, new heating system and the reordering of the worship space. It was wonderful to reopen the Sanctuary at a Circuit service in May and enable many new community groups and organisations including an Art Exhibition, Hustings and Metal Methodist Compline to benefit from the developed space.

Hallcroft continue to offer a range of community activities including a weekly coffee morning, joint fellowship with the Grove and soup lunch and film gatherings

In September the sale of Wheatley Chapel was completed and the Church in Wheatley is now taking time to develop its plans for the future in conjunction with the Diocese and Circuit.

Leverton have continued to hold their monthly Breakfast Church with further highlights throughout the year of a Street Nativity and an annual service at North Leverton Windmill.

Wales Kiveton have continued to successfully develop their community activity and extend their close links with the local village school.

Friends at North Anston have had a difficult year following the discovery of a major roof fault in January which led to the temporary closure of the church. Following investigation by Structural engineers it was agreed that the church could reopen with a propping system in place. Everyone was delighted to see the church reopen in July.

Dinnington have spent much time during the year carefully considering their future, members have now agreed to become a class of North Anston whilst the Circuit takes on the

trusteeship of the building. A project group have also been formed to explore the possibility of pioneer based activity in the town of Dinnington.

Carlton continue to consider their future but have been pleased to see an increase in activities including new partnerships, prayer meeting, Craft Fayre, alongside the regular weekly coffee mornings

The Crossing has continued to broaden its activities with involvement at Worksop Pride being a successful event. The Finance group has grown in membership throughout the year as new revenues and funding are explored. The Crossing also enjoyed supporting a Student Deacon on placement with Deacon Emily during the year.

Whitwell – after much thought and sadness members decided in February to cease to meet and the final service at the church took place in June. The Circuit have formed a Managing Group to oversee the building management and explore next steps, we are grateful that several members are part of this group. Circuit staff continue to support members pastorally and by a monthly Zoom service.

Circuit meetings, gatherings and conversations have continued throughout the year to support the development of a revised Circuit structure to focus our future activities.

5. Moving Forward

As a part of reshaping the circuit and its focus we continue to consider the Connexion and District’s strategic priorities

In particular we continue to be helped by the District initiative ‘For such a time as this’ which invites churches 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:

GROWING DISCIPLES lies at the heart of our strategy, as a bedrock of supportive accountable, deepening relationship with each other and with Christ.
This leads to PASSIONATE CONTEXTUAL WORSHIP and TRANSFORMING MISSION Particular support is needed to rediscover confidence in SHARING STORIES
We will help set disciples free for a life of worship and mission by SIMPLIFYING PROCEDURES and expert support to make their PROPERTIES FIT FOR MISSION

Throughout the year conversations have taken place across the Circuit to explore a revised structure for the Circuit and we have been grateful for the contributions and support with this initiative. This new model for the Circuit will (a) enable each church to work in partnership with another church in the Circuit and will (b) make the best use of the gifts and skills of our current ministerial team. There will be a transition phase throughout 2025 to fully implement the revised structure by September.

During 2025 we will be entering the stationing/re-invitation process with Rev Angela and Deacon Emily as both enter the final year of their current appointments in 2026.

During this last year outline residential planning permission was finally secured for the former chapel at Woodsetts and we are now working with Brown & Co to market the site ahead of a sale in 2025

Following agreement in 2022-3 to sell two of its manses to raise additional funding for the mission of the circuit the sale of the former Whitwell manse finally completed in July.

6. Financial Overview

Introduction

The Circuit provides for:-

a) the ministerial oversight and pastoral care of local churches in the Circuit
b) the support of the ministry team of two presbyters, one deacon, seven supernumerary ministers, and three lay workers
c) the maintenance of five Circuit manses.

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 35 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 2024 is £8,600.

A draw down of £120,000 was made from the Model Trust Fund to meet general expenditure in 2023/24

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. The lettings income relates to the rental of 2 manses, one of these manses was sold during the year. Other income is generated from printing, recharged expenses and sundry items. The Circuit was fortunate to be awarded a £20,000 grant over three years to support the appointment of a Facilities and Community Manager, and £14,475 to support the appointment of a Volunteer Coordinator and associated project costs.

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 2024 the net current assets of the Circuit were £613,102 giving approximately 34 months cover for expenditure.

Plans for 2024/25

Circuit financial plans for the coming year have been prepared on the basis that there will be 2 full time and 1 part time ordained members of staff with anticipated cost of living stipend increases. A 3% 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:

select suitable accounting policies and then apply them consistently.
observe the methods and principles in the applicable Charities SORP;
make judgement and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

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

The Circuit Stewards are responsible for the maintenance and integrity of the charity and financial information included on the charity's website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.

Approved by the Circuit Stewards on 26[th] February 2025 and signed on their behalf by:

…………………………………………

Superintendent Minister

………………………………….………

Circuit Steward 9

25/19

Circuit No

Trinity Methodist Circuit

Statement of Financial Activities (SOFA) for the year ended 31 August 2024

Income	Notes to the accounts	General Fund (Unrestricted)	Circuit Model Trust (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Endowment Funds	Total 2023-24
		£ £ £ £ £ £
1 Donations and legacies		-	-	-	-	-	0
2 Income from monetaryinvestments		3,702	10,438	-	2,984	660	17,785
3 Income from investmentproperties		9,335	-	-	-	-	9,335
4 Assessments on Churches		130,309	-	-	-	-	130,309
5 Capital Receipts		-	150,025	-	-	-	150,025
6 Grants received		24,315	-	-	-	-	24,315
7 Other charitable income		12,141	-	-	4,571	-	16,712
8Total income		179,803	160,463	-	7,555	660	348,481
Expenditure
9 Grants and donations	8	970	-	-	-	-	970
10 Salaries and associated costs	9	202,693	-	-	-	-	202,693
11 Propertymaintenance		6,735	-	-	-	-	6,735
12 Connexional assessment & model trust levy		-	162,862	-	-	-	162,862
13 District Assessment & Levy		37,042	2,751	-	-	-	39,794
14 Depreciation		-	-	-	-	-	0
15 Office expenses	10	9,608	-	-	-	-	9,608
16 Other outgoings	11	28,657	299	-	146	35	29,137
17Total charitable expenditure		285,705	165,912	0	146	35	451,799

18 Gains/(losses)on monetaryinvestments		-	1,468	-	334	27	1,830
19 Gains/(losses)on investmentproperties		345,862 -	-	-	-	-	-345,862
20Net income/(expenditure)		-451,765	-3,981	0	7,743	653	-447,350

21 Transfers between funds		254,691 -	257,129	-	2,373 -	65 -	0
22 Othergains/(losses)		100,000	-	-	-	-	100,000
23Net movement in funds		-606,456	253,148	0	5,370	588	-347,350

24 Total funds brought forward		2,409,691	154,829	-	51,190	12,371	2,628,081
25 Total funds carried forward		1,803,235	407,977	-	56,560	12,959	2,280,731

25/19

Circuit No

Trinity Methodist Circuit

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	8	1,474	10,660	-	69,340	-	81,474
10 Salaries and associated costs	9	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	10	8,658	-	-	-	-	8,658
16 Other outgoings	11	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

Trinity Methodist Circuit

Circuit No 25/19

Balance Sheet as at 31 August 2024

		General Fund	Circuit Model	Designated	Restricted	Endowment	Totals	Totals
		(Unrestricted)	Trusts	Funds	Funds	Funds	2023/24	2022/23
	Notes to the		(Unrestricted)	(Unrestricted)
	Accounts	£	£	£	£	£	£	£
Fixed Assets
Circuit Manses & Equipment 14 1,246,897 1,246,897 Investmentproperties 15 a 392,582 - - 392,582 Investments 15 b - 20,449 - 7,175 526 28,150 ~~"OA,~~ ~~EEEEee~~								1,122,019 1,140,451 26,320
*Total fixed assets*		1,639,479	20,449	0	7,175	526	1,667,629	2,288,790
Current Assets
Debtors		22,487	-	-	-	-	22,487	13,873
Loans bythe Circuit	16	11,102	48,600	-	-	-	59,702	60,902
Investments with TMCP		-	338,928	-	49,385	12,433	400,746	142,270
Central Finance Board Deposits		148,795	-	-	-	-	148,795	137,786
Cash at Bank and in hand		6,419	-	-	-	-	6,419	7,348
*Total current assets*		188,803	387,528	0	49,385	12,433	638,149	362,179
Current liabilities
Creditors (due in under 1 year)		25,048	-	-	-	-	25,048	22,888
Grantspayable within 2023-24		-	-	-	-	-	0	0
*Total current liabilities*		25,048	0	0	0	0	25,048	22,888
*Net current assets/liabilities*		163,756	387,528	0	49,385	12,433	613,102	339,291

*Total assets less current liabilities*		1,803,235	407,977	0	56,560	12,959	2,280,731	2,628,081

Long term liabilities
(due after more than oneyear)
Grantspayable after 2023-24		-	-	-	-	-	0	0
Loans to the Circuit		-	-	-	-	-	0	0
							0	0
*Net assets*		1,803,235	407,977	0	56,560	12,959	2,280,731	2,628,081

Funds of the Circuit

General Fund(Unrestricted)	1,803,235	1,803,235	1,803,235	1,803,235	1,803,235	1,803,235
Circuit Model Trust Fund (Unrestricted)		407,977				407,977
Designated Funds(Unrestricted)			0			0
*Total Unrestricted Funds*						2,211,212
Restricted Funds				56,560		56,560
Endowment Funds					12,959	12,959
*Total Funds*	1,803,235	407,977	0	56,560	12,959	2,280,731

Signed

Circuit Treasurer

Trinity Methodist Circuit

Notes to the Accounts For the year ended 31 August 2024

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:

General Funds held for any purpose of the Circuit which are unrestricted. The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted.
Restricted funds which are held for a narrower purpose.
Endowment funds are held as investments where the capital has been specifically given to the Circuit with the income being available for general use.

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 2024, 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.

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 five properties purchased as manses by the Circuit. From 1[st] September 2023 three manses are occupied by ministers and two rented out on short term tenancies and included as Investment Properties. One of the Investment Properties was vacated in January 2024 and subsequently sold. 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 or NEST for 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 2024 is £9,335.

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

2023/24	2022/23 - - 2023/24 £ 0 0	2022/23	2022/23 £
-		-
-		-
	0		0
	0		0

7. Fees for examination or audit of the accounts

8. Grants

Grants made during the year were: Grove Street building scheme £ Computers for Ministry £ The Crossing re Cost of Living payments £ Total grants £	2023/24 0 970 0 970	2022/23
	0	80,000
	970	704
	0	770
	970	81,474

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: ffice Expenses Office Telephones Manse Telephones and Internet Printing Office Rents Stationery Postage Other Office Costs Total Office Expenses	2023/24 164,179 12,982 24,645 887 202,693 8 2023/24 £ 1,281 2,724 1,745 2,000 609 114 1,135 9,608	2022/23
		137,613
		11,341
		22,581
		746
		172,281

		6
		2022/23 £
	1,281	898
	2,724	2,308
	1,745	1,830
	2,000	2,000
	609	603
	114	119
	1,135	899
	9,608	8,657

10. Office Expenses

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	2023/24 £ 16,457 7,382 0 - 480 - 794 750 3,274 29,137	2022/23 £
	16,457	13,917
	7,382	6,409
	0	2,100
	-	-
	480	650
	-	-
	794	820
	750	259
	3,274	2,152
	29,137	26,307

12. Capital Commitments and Contingent Liabilities

At 31 August 2024 there are no capital commitments.

No contingent liabilities were identified at 31 August 2024.

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	2023/24 £ 0 565 565 0	2022/23
	£	£
	0	0
	565	0
	565	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	-	1,082,019	40,000	-	-	1,122,019
Additions	-	-	100,000	-	-	100,000
Revaluations (+/-)	-	24,878	-	-	-	24,878
Disposals (-)	-	-	-	-	-	-
Transfers*(+/-)	-	-	-	-	-	-
Balance C/F	-	1,106,897	140,000	-	-	1,246,897

Accumulated depreciation

Balance B/F	-	-	-	-	-	-
Depreciation charge for year (-)	-	-	-	-	-	-
Revaluations (+/-)	-	-	-	-	-	-
Disposals (-)	-	-	-	-	-	-
Transfers*(+/-)	-	-	-	-	-	-
Balance C/F	-	-	-	-	-	-
Net book value
Brought forward	-	1,082,019	40,000	-	-	1,122,019
Carried forward	-	1,106,897	140,000	-	-	1,246,897

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.

15. Investment assets

a. Investment Properties

	Manses	Total
	£	£
Balance brought forward	1,140,451	1,,140,451
Additions	-	-
Revaluations (+/-)	8,823	8,823
Disposals (-)	-	-
Transfers (+/-)	(756,692)	(756,692)
Balance carried forward	392,582	392,582

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	28,150	26,320
Securities not listed on a recognised Stock Exchange	-	-
Other investments	-	-
Total	28150	26,320

Change in investment values
Carrying (market) value at beginning of year	26,320	27,731
Add: additions toinvestments at cost	-	-
Less: disposals at carryingvalue	-	-
Net gain/(loss) on revaluation	1,830	(1,411)
	28,150	26,320

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 2024 were:

Carlton £40.000 The Crossing £19,702 Total £59,702

17. Detailed analysis of individual fund movements 2023-24

Unrestricted Funds
Unrestricted Fund Name	Opening Balance	Incoming Resources	Resources Expended	Transfers	Gains/ Losses	Closing Balance	Purpose of the fund
General	2,409,691	179,803	(285,705)	(254,691)	(245,862)	1,803,235	General use
Circuit Model Trust	154,829	160,463	(165,912)	257,129	1,468	407,977	General use
Totals	2,564,520	344,426	(455,777)	2,438	(244,394)	2,211,212

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	2,219	(120)	(2,099)	0	41,976	Model Trust Bequest
Anonymous gift, Trust 7544	6,841	292	(20)	(273)	334	7,175	Available with restrictions
Development Fund ex Tuxford,Trust15648	19	3	0	0	0	22	Available with restrictions
Various Bequests ex Whitwell,Trust16897	0	4,610	0	0	0	4,610	Model Trust Bequest
Sale of Laxton ex Tuxford,Trust17028	2,354	430	(7)	0	0	2,777	Local Model Trust Capital
Totals	51,190	7,555	(147)	(2,372)	334	56,560

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	897	40	Generaluse
Towne,Trust4388	TMCP	505	25	Generaluse
BriggsMemorial,Trust1190	TMCP	135	4	Reinvested
RHGoacher Bequest,Trust15939	TMCP	11,422	556	Reinvested
Totals		12,371	625

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

Declarations and Scrutiny

I confirm that these accruals-based accounts for the year to 31 August 2024 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit meeting.

Signature of treasurer .………………………………………………………

11/06/2025

Date …………………………………………...…………..

Name and address of treasurer:

Mr Spencer Welchman 8 Rutland Road Retford DN22 7HF

Presentation to the Circuit Meeting

I confirm that the annual report and accounts for the year ended 31[st] August 2024 have been presented to the Circuit meeting held on 26[th] February 2025.

Signature of the Chair of the meeting ………………………………….…………………… Name of the Chair of the meeting Revd Julie Coates

11/06/2025

Date ……………………………………………….………

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 2024 set out on pages 10 to 18. 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:

the accounting records were not kept in accordance with section 130 of the Act; or
the accounts do not accord with the accounting records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view, which is not a matter considered as part of an independent examination
the trustees’ annual report is not consistent with the accounts

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

11/06/2025

Date

…………….…………………………………………

TRINITY METHODIST CIRCUIT

Appendix A

Trustees of Trinity Methodist Circuit

Mr	KM	Abel
Mrs	T	Abel	appointed 17/09/24
Mrs	S	Baggaley
Mr	M	Bagshaw
Mr	GR	Bennett
Mrs	H	Bennett
Mrs	S	Boyles
Mrs	B	Bradley	resigned 31/08/24
Mrs	K	Bradley
Mr	GW	Brown	resigned 30/06/24
Mr	D	Burton
Rev	MB	Burton
Mrs	G	Cawthorne	resigned 31/08/24
Rev	JI	Coates
Mr	R	Coyne	resigned 31/08/24
Rev	FM	Ferriter
Mrs	B	Foster	resigned 31/08/24
Mrs	J	Fuller	appointed 13/09/23
Mrs	A	Hall	appointed 01/09/24
Mrs	V	Hinchliffe
Rev	A	Hindmarch
Mrs	H	Hindmarch
Mrs	JM	Hodgson
Dea	E	Hoe-Crook
Mr	D	Holmes	appointed 01/09/24
Mr	J	Horsfield
Mr	JL	Jenkin
Mrs	Y	Jones
Mr	P	Joynes	appointed 01/09/24
Mr	AE	Laurie
Mrs	M	Merrills	appointed 01/09/24
Mrs	S	Osborn
Rev	A	Pothecary
Mrs	NJ	Rowson
Mrs	D	Sidney	resigned 31/08/24
Mrs	J	Smith
Mrs	K	Smith	resigned 30/6/24
Mrs	JM	Sykes
Mrs	J	Thomas	resigned 31/08/24
Mr	C	Walker
Mrs	SJ	Walker
Mrs	AD	Welchman	resigned 30/04/24
Mr	WS	Welchman
Mrs	A	Westerby
Mrs	J	Westerby	resigned 30/06/24