EAST LINCOLNSHIRE METHODIST CIRCUIT TRUSTEES ANNUAL REPORT For the ST ear ended 31 AUGUST 2024 Introduction The Trustees are pleased to present the Annual Report of the Trustees of the East Lincolnshire Methodist Circuit (hereinafter referred to as "The Circuit") for the year ended 31 St August 2024.There has been movement in the ministers serving the Circuit. On 31 August Deacon Pam Luxton retired as a minister. Her role in the Caravan Chaplaincy will be covered by a volunteer. Alms and organlsatlon The Governing Document of the Charity is the Deed of Union of the Methodist Church 1932 and the Methodist Church Act 1976. 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 forthe 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 There are now 14 places of worship in the area covered by the Circuit (see Appendix B), and they are all open to anyone who may wish to visit them without any charge. In addition there is 1 Society which is a class of a Church in the Circuit which meets at their Parish Church. The Circuit produces a quarterly preaching plan to ensure that regular acts of worship take place at all the churches and chapels in its geographical area and that the following activities take place to further the objectives set out above:. 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. Taking services in care and residential homes. Promotion of Christianity through the staging of events and services. Provision of chaplaincy services where appropriate. Publlc Beneflt The Trustees have had regard to the Charity Commission's guidance on public benefit. Brlef flnanclal revlew of the year The main source of income in this and every year is the assessments paid by the churches within the Circuit area. In the year to 31 $1 August 2024, the assessments totalled £155,192 (2023: £157,575). In addition, the Circuit received rental income from surplus properties totalling £16,834 (2023.. £15,414), grants for the Caravan Chaplaincy of £38,050 (2023.. £38,000), a refund of £25,000 paid into the Connexional Pension Reserve Fund in 2022 and proceeds from the sale of surplus properties of £364,875 (2023: £83,641). The main expenditure this year is for the stipends of ministers and the salaries of lay employees, together with related employment costs, including the provision of manses to ministers and the reimbursement of travelling and other costs, totalling £163,238 (2023., £162,839). Other costs include contributions to the District, £18,180 (2023: £18,316) and to the Methodist Church Fund to further the work of the wider Methodist Church £34,320 (2023: £31,684). Stipends have increased annually in line with conference approved percentages and lay employees are paid, in accordance with Methodist Standing Orders, no less than the hourly rates set by the Living Wage Foundation. At 31 August 2024 the net current, unrestricted, assets of the Circuit were £473,290 (2023: £129,093), compared with total revenue expenditure for the year of £268,274 (2023: £316,305, includes the levy of £12.728 on the propety sale that year).
Plans for 2024125 Circuit financial plans for the corning year have been prepared on the basis of 2 presbyters with anticipated cost of living stipend and pay increases combined with a significant increase in the assessments paid to the District and Connexion. In addition, the circuit has employed part-time Propety and Finance Officers to assist with the running of the Circuit and individual churches. These roles will be funded out of resenies for the next two years. The Caravan Chaplaincy project may require funds from the Circuit as necessary. The level of assessments requested from the churches in the Circuit have been adjusted for different churches to reflect the varying financial situations in each church. As a result, the circuit has budgeted for deficit to be funded from the net income from property sales. The future does not look very promising in view of the continued financial problems facing churches in the circuit. Structure, Governance and Management The governing document for the Circuit is the Deed of Union (1932) and Methodist Church Act (1976). Detailed governan 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 (comprising the ministers and Circuit Stewards) and the Local Preachers meeting. Trustee Training A range of guidance is produced by Methodist Connexion to support the effective running of the Circuit, including the leaflet 'The Role of a Trustee in The Methodist Church,. Related Partles The Circuit is part of the Lincolnshire District and is also accountable to the Methodist Conference. 15 Churches and Classes are linked to the Circuit and are listed in Appendix B to this Report. Rlsk Management Major risks, both physical and financial, are identified and recorded and professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and Expenditure is monitored in total and is compared with the approved annual budget to detect trends as part of the risk management process to avoid unforeseen calls on reserves. Safeguardlng 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 re-creation 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.. 1. the care and nurture of, and respectful pastoral ministry with, all children, young people and adults 2. the safeguarding and protection of all children, young people and adults when they are vulnerable 3. the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse. 4. The Circuit 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. 5. The Circuit 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. 6. The Circuit will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care. 7. The Circuit will seek to challenge any abuse of power, especially by anyone in a position of trust.
- The Circuit 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 the Circuit will follow legislation, guidance and recognised good practice The Circurt commits itself to ensuring the implementation of Connexional Safeguarding Policy, government legislation, guidance and safe practice in the circuit and in the churches. The 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. Reserves Policy The Reserves Policy for the Circuit is to hold approximately one quarter's average expenditure. However due to shortfalls over the past couple of years the General Fund only holds half that amount. This will only be sufficient in the short term if churches meet their quarterly assessment liabilities in full. Further shortfalls will be funded from the Circuit Model Trust Fund. Legal and Admlnistrative The Circuit's financial statements for the year ended 31 August 2024 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 the Financial Reporting Standard for Smaller Entities(FRSEE) applicable in the UK (effective from 1st January 2015) the Charities SORP in replacement for the SORP'S 2005 version specified in its related 2008 Regulations and in accordance with the "true and fair override" provision contained therein. Full Name of Charity: East Lincolnshire Methodist Circuit Registration Charity Number: 1133104 Date of registration 2014 Main communication address Circuit Office, Louth Methodist Church, Nichol Hill, Louth LN119NQ The members of the Circuit meeting are the Managing Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches. A full list of Trustees is shown in Appendix A to this Report Clrcult Mlnlsters and officers Active Circuit Ministers Rev Graham Miles (Superintendent Minister) Rev Margaret Asiedu Deacon Pamela Luxton (to August 2024) Mrs Lyn Bignell Miss Doreen Horn Mrs Tricia Johnson Mrs Anne May Mr Bryan Utteridge Mrs Catherine Rolph Carl Braddy (from 1 $1 August to 30 November 2024) - Now VACANT Paul Cooper (from 1" August 2024) Circuit Stewards Administrator Finance Officer Property Officer th During the year Catherine Rolph has overseen the day to day book-keeping and Michael May as finance advisor has overseen the financial management and accounting forthe Circuit, in the absence of a Steward able or willing to take responsibility. Michael May's role will now be taken on by Carl Braddy. Independent examiner Keith May Accounting Services Ltd. Aura Business Centre, Heath Road, Skegness Lincs PE25 3SJ Central Finance Board of the Methodist Church Trustees for Methodist Church purposes Lloyds Bank, Lumley Road, Skegness, PE25 3LP Investment Bankers Bankers
APPENDIX A LIST OF TRUSTEES Andrew Chambers Ann Briggs Anne May Ann Moyes Bryan Utteridge Carol Gordon Chris Banham Christine Foulds David Willson Diane Stebbings Doreen Horn Doreen Silvester Edward Mossop Ernie Simmonds Fred Donner Gaynor Miles Graham Miles (Rev) Heather Neale Irene Unsworth Ivor Haythorne (Rev) Janet Mosley Jean Cawkwell John Silvester Linda Hadfield Liz Mossop Lyn Bignell Margaret Asiedu (Rev} Margaret Harrison Marianne Haywood Mark Harrison Michael May Nancy Cartwright Neil Baxter Neil Poulsom Nick Adams Norman Carr (Rev) Pamela Luxton (Deacon) (to 31 August 2024) Patricia Johnson Circuit Steward Patsy Pike Peter Mace Richard Neale Roger Maidens Sue Baxter Susan Alldread Circuit Steward Circuit Steward Circuit Steward (from 1 St September 2024) Superintendent Minister Supernumerary Minister (to 318t August 2024) Circuit Safeguarding Officer and Circuit Steward Minister (to 30th October 2024) (to 14th February 2024) (from 1 &1 September 2024) (to 31° August 2024) Supernumerary Minister sl Local Church Pastor (to 31. August 2024) th (from 12 February 2024)
APPENDIX LIST OF CHURCHES IN THE CIRCUIT Alford Methodist Church Burgh le Marsh Methodist Church (up to end August 2024) Chapel St Leonards Methodist Church Grainthorpe Methodist Church Louth Methodist Church Mablethorpe Methodist Church Marshchapel Methodist Church Saltfleet Methodist Church Salffleetby MethodisVAnglican L.E P Skegness Methodist Church Sutton on Sea Methodist Church Thorpe Fendykes Methodist Church Trusthorpe Methodist Church Wainfleet Methodist Church Withern Methodist Church In addition there is 1 Society which is a Class of another Church and meets as indicated below:. Fulstow (a class of Grainthorpe Methodist Church) - meets in the Parish Church Approved by the Circuit Trustees at their meeting on io .(signed) .(signed) ev Graham Miles Superintendent Minister Doreen Horn Lead Circuit Steward
Circuit Accruals Accounts 2023-24 THE METHODIST CHURCH REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2024 EAST LINCOLNSHIRE Circuit Registered Charity - Reglstratlon number 1133104 Lincolnshire Circult No 1716 Mlnlsters Rev Graham Miles Deacon Pamela Luxton (to 31.8.24j Rev Margaret Asiedu Circuit Stewards Miss Doreen Horn Bryan¢ Utteridge Mrs Lyn Bignell Mrs Tricia Johnson Mrs Anne May Circuit Treasurer Michael May (Finance Advisor) (10 31.8.24
Name of Circuit East Lincolnshire Circuit No 1716 ststement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to Circuit Model the General Fund Trust Restricted Endowment accounts {Unrestri¢ted) (Unrestricted) Funds Funds Total 2023-24 Income 1 Donations and legacies 2 Income from monetary investments 3 Income from investment properties 4 Assessments on Churches 5 Capital Receipts 6 Grants received 7 Other charitable income 8 Total Income 873 16,500 155,192 (121,500) 689 481 52,235 14,111 1,432 417 16,834 16,500 155,192 243,375 38,739 25,481 496,121 364,875 38,050 25,000 403,986 39,482 417 Expenditure 9 Grants and donations 10 Salaries and associated costs 11 Property maintenance 12 Connexional assessment & levy on sales 13 District Assessment & Model Trust levy 14 Depreciation 15 Office expenses 16 Other oulgoings 17 Total charitable expenditure 18 Gainsl(losses) on monetary investments 19 Gainslllosses) on investment properties 20 Net incomel(expenditure) 21 Transfers beeen funds 22 Other gainslllosses) 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried forward 4,500 98,045 28,918 34,320 18,180 10,179 14,679 137,870 32,388 34,320 21,384 39,825 3,471 3,204 14,888 7,925 206,776 325 2,217 2,277 47,790 1,243 17,431 10,202 268,274 2,751 13,708 736 771 1154,540) 34,960 391,014 (48,000) (7,0651 13,040 1,188 230,598 10) (119,580) 1,583,540 1,463,959 343,014 114,087 457,101 S,976 32,966 38,942 1,188 230,598 12,974 1,743,568 14,163 1,974,166
Name of Circuit East Lincolnshire Circuit No 1716 Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Notes to Circuit Model the General Fund Trust accounts (Unrestricted) (Unrestricted Restricted Endowment Funds Funds Total 2022-23 Income 1 Donations and legacies 2 Income from monetary investmenls 3 Income from investmenl properties 4 Assessments on Churches 5 Capital Receipts 6 Grants received 7 Other charitable income 8 Total Income 13,522 838 350 15,775 15,414 157,575 83,641 40,646 3,710 316,760 15,414 157,575 83,641 38,000 3,710 180,409 97,163 38,838 350 Expenditure 9 Grants and donations 10 Salaries and associated costs 11 Property maintenance 12 Connexional assessmenl & levy on sales 13 District Assessment & Model Trust levy 14 Depreciation 15 Office expenses 16 Other oulgoings 17 Total charltable exp•nditure 18 Gainsl(losses) on monet8ry investments 19 Gainsl(losses) on investment properties 20 Net incomel(expendlture) 21 Transfers beeen funds 22 Other gainsl{losses) 23 Net movement in funds 24 Total funds brought forward 25 Total funds carrled forward 1,000 89,627 47,767 31,684 18,316 17,642 18,642 126,517 56,489 44,412 45,625 36,891 8,721 12,728 27,309 11,494 6,387 206,275 1,370 3,298 2,070 50,980 772 16,162 8,457 316,305 1189) 59,049 (519) (442) (25,866) 398,750 37,595 (404,306) (11,370) 5,556 {92) 267 372,884 1,210,656 1,583,540 (366,711) 480,798 114,087 (5,814 38,781 32,966 (921 267 13,066 1,743,301 12,974 1,743,568
Name of Circuit East Lincolnshire Circuit No 1716 Balance Sheet as at 31 August 2024 General Fund {Unrestrictedl Circutt Model Trusts Iunrestrlctedl Rèstrictgd Funds Endowment Funds Totals 2024 Noto$ to tho Accounts Flxed Assets Circuit Properties Investment properties Inve$tmenl$ 1,436,806 1,436,806 10 10,964 10,964 18.297 18,297 10,742 10.742 40,003 1.476,809 Total Ilxed assets 1.436.806 Current Assets Debtors Loans by the Circuit Trustee Investment Fund 81 TMCP Central Finan Board Deposits Cash al Bank and in hand 7,002 7,002 446,137 20,645 3,421 470,203 12,622 10,429 500,257 12,622 10,429 30,053 Total cumnt assets 446.137 20,645 3.421 Current liabilities Creditors (due in under 1 yearl Grants payable within 2024-25 Tot•1 current Ilabllltlo$ Not ¢urront assets/ll•bllltl•s 12 2.900 2,900 2,900 27,153 2,900 497,357 446,137 20,645 3,421 Total assets less cunynt Ilabllltl•$ 1,463,959 457.101 38,942 14,163 1,974,166 Long term Ilabllltles (due after more than one year) Grants payable after 2024-25 Loans lo the Circuit Net assets 1,463,969 457,101 38,942 14.163 1,974,166 Funds ofth• Circuit General Fund Iunreslricledl Circuit Model Trust Fund Iunreslrictedl Total Unrestrictsd Fund5 Reslricled Funds 1,463,959 1.463,959 4S7,101 1,921,061 38,942 14.163 1,974,166 457,101 38,942 Endowment Funds 14,163 14,163 Total Funds 1,463,959 4S7,101 38.942 Signed Circuit Finance Adviser
Name of Circuit East Lincolnshire Circuit No 1716 Balance Sheet as at 31 August 2023 Ggneral Fund (Unrestricted) Circutt Modol Trusts (Unrgstrictedl Rostricted Fund8 Endowmgnt Fund$ Totsls 2023 Not•s to th• Accounts Fixed A88ets Circuit Properties Investment properties Investments 1,558,306 1,558.306 10 10,228 10.228 17,054 17,054 9,971 9,971 37,252 1.595,559 Total flxed assets 1.558,306 CurrentAs80ts Debtors Loans by the Circuit Trustee Investment Fund al TMCP Central Finance Board Deposits Cash al Bank and in hand 11 10,606 10,606 103,859 20,088 4,175 3,004 126,951 8,869 1,584 148.010 13,044 1,584 25,234 Total curront 8$$ets 103,859 15,913 3,004 Curr•nt liabilities Creditors Idue in under 1 y88rl Grants payablo within 2023-24 Total ¢urrent Ilabllltles Net current Jssets/llabllltles 12 25,234 103,859 15,913 3,004 148,010 Totsl assets l•s$ ¢urront Ilabllltles 1,583,540 114,087 32,966 12,974 1,743,568 Long term Ilabllltles (due after more than one year) Gr8nl$ payable after 2023-24 Loans lo the Circuit Net assets 1,583,540 114,087 32,966 12,974 1,743,568 Funds of the Clrcult General Fund {Unreslricledl Circuit Model Trust Fund Iunreslricledl Total Unrestrictod Funds Reslricled Funds Endowment Funds 1,583,540 1,583,540 114,087 1,697,627 32.966 12,974 1,743,568 114,087 32,966 12.974 12,974 Total Funds 1,583,540 114.087 32,966 Signed Circuit Finance Adviser
Notes to the Accounts East Lincolnshire Circuit l Basls of a¢¢ountlng The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 verslon of Accounting and Reporting by Charities.. Statement of Recommended Practice150RPI applicable to charities preparing thelr account5 in accordance with the Financial Reporting Standard for Smaller Entities applicable in the UK lelfective frorn I January 20151- the Charities SORP IFRSSEI- in replacement for the SORP'S 2(K)5 version Specified in its related 2008 Regulation5 and in accordance with the 'trve and fair override. provision contained therein. 2 Funds The funds held include General Fund5 held for any purpose of the Clreult which are Unrestricted. the Clrcult Model Trust Fund which has wlde purposes defined in Standing Orders and is categori5ed as Unrestricted, Restricted fund5 which are held for a narrower purpose and are listed in the final Note below and Endowment funds which are a150 listed in that Note. Any funds may be represented by rnore than just cash. 3 Accountin8 policies Basis These accounts have been prepared on the basls of hlstorlcal cost. except that Investrnents are shown at their market value at the end of the year, on the accruals basis to show a true and lair view of the Circuit's financial p051tion and activities. Income Recognltlon Incorne is Included in the Statement of Flnancial Actlvitie5 ISOFAI when the Circult becomes entitled to the resources, and the trustee5 are reasonably certaln they wlll receivè the resources,. and the monetary value can be measured wlth sufflclent Resources Expended This is recg8n15ed when a Ilablllty Is Ineurred, or a cgn5truct5ve obll8atlon arlses, that result5 In the payment belng unavoidable. Llabllltlès are reco8ni5ed as soon as an outflow of economic beneflt is considered more Ilkely than not under the le8al or constructlvè Dbllgatlon commlttln8 the Clrcult to pay out resources. Grants Grants made by the Clrcult from it5 gwn funds are reco8nlsed In full at the timè of agreement or when the Clrcuit accept5 that there Is a le8al or opèrational obllgatlon to make the payment. When thè grantls recurrent over morè than one yèar the balance payable In future years 55 treated as a provlslon for future commltrnent5 In the Balance Sheet agaln5t the approprlate fund, the prgvlsion beSn8 released In future years as In5talment5 are pald In accordance wlth the ori85nally agreed terms. VAT Slnce the Clrcult 15 not VAT re8lstered, all Input VAT is charged wlth the expense to wh5ch It refers. Tanglble flxed assets for use by the Clrcult These are capitalised If their antlclpated rellable Ilfe Is more than gne year, and indlvldually cost at least £2,000. The freehold properties are shown sn the accounts at 2015 deemed value5 or subsequent purchase cost, of which the land component in the opinion gf the Trustees is £585,000. No depreciation 15 provided on any of the buildings because the trustees conslder thelr current Tesldual falr value lon the assumption that they had reached the end of their useful economlc Ilves by the year-endl to be not less than Its current valuè. Any depreclatlon would not be matèrial. The properties have been reviewed for impalrment. Investment Propertles Following the5ale of a surplus manse and the retlrement of one rnini5ter, the Circult now hold5 3 rnanses and one dlsused Church which are surplus to requlrements. One rnan5e is rented by a Syrlan refu8ee family and the disused church Is occupied by a charity offerin8 services to the local cornrnunity. One other manse Is also rented out to provide Incorne to the Clrcuit and the thlrd manse is on the market for sale. The four propertles are not held for their investrnent potential and are therefore included In Freehold Property, with the disused church shown a5 Other Buildings in Note 9. The rental income 15 described in the SOFA a5"incorne from Investment Propertles as a means of highlighting the rnateriality of the income. Investments Investments are valued in the balance sheet at market value at the year end. Investment income 15 included in the accounts when receivable and any 8ains or losse5 on revaluation at the year end are shown in the SOFA. Debtors and Prepayments Debtors relate to stlpends for September. Credltors Creditors relate to two amounts paid out in Septernber whlch were due for payment in August. Impact of Accounting changes There are no Accountin8 changes
East Lincolnshire Circuit Circuit Model Trust Fund Unrestricted Restricted Endowment 4. Investment income Total Year to 31st August 2024 Central Finance Board TMCP Other Total 873 873 14,111 1,432 417 15.960 873 14.111 1,432 417 16,834 Year to 31st August 2023 Central Finance Board TMCP 1,064 1,064 14,710 13,522 838 350 Other Total 1,064 13,522 350 15,775 5. Capltal Recelpts Thls year Last year Church Street Louth Alvingham Sale of Investments Sale of surplus Manse Sale of cSosed chapel 364,875 83,641 364,875 83,641 6. Payment to Trustees With the exception of Stipends paid to ministers, no payments were made to trustees for additional services provided to the Circuit by agreement with the Circuit Meeting Thls year Last year Number of trustees who were paid expenses Nature of the expenses Expense payments primarily relate to reimbursement for travel costs Total Amount Paid 9,850 13,354 7. Fees for examlnatlon or audlt of the accounts Independent examiner's or auditors, fees for reporting on the accounts 120 120 Other fees leg.. advice, accountancy services) paid to the independent examiner or auditor 8. Paid employees (Includlng Ministers) staff costs paid durlng the year were: Gross wages, salaries and benefits in kind Employer's National Insurance Costs Pension Costs Total Staff Costs 104,356 24,209 9,305 137,870 95,711 22,433 8,373 126,517 Average number of staff employed during the year were
East Lincolnshire Circuit 9. Tanglble Fixed Assets Cost or valuation Year to 315t August 2024 Other builidn8S Total Residential Land Other Land Manses Balance brought forward Additions 575,000 120,000 818,306 45,000 1,558,306 Revaluations l+/_) Disposals l_l Transfers. Ix/-) Balance carried forward -iio,000 -11,500 -121,500 465,000 120,000 806,806 45,000 1,436,806 Accumulated depreclatlon *Basis • Rate SLorRB SLorRB Balance brought forward Depreciation charge for yearl-l Revaluations Ix/-I Disposals l-l Transfers. Ixl-l Balance carried forwards Net book value Brought forward Carried forward 575,000 465,000 120,000 120,000 818,306 806,806 45,000 45,000 1,558,306 1,436,806 Cost or valuation Year to 31st August 2023 Other bullSdngs Total Resldentlal Land Other Land Manses Balance brought forward Additions 475,000 loo,000 120,000 534,000 284,306 45,000 1,174,000 384,306 Revaluations l+/- Disposals l-l Transfers'lx/-I Balance carried forward Accumulated depreciation • •Basls ** Rate 575,000 120,000 818,306 45,000 1,558,306 SLorRB SLorRB Balance brought forward Depreciation charge for yearl-l Revaluations Ix/-I Disposals l-l Transfers. Ix/-I Balance carried forwards Net book value Brought forward Carried forward 475,000 575,000 120,000 120,000 534,000 818,306 45,000 45,000 1,174.000 1,558,306
East Lincolnshire Clrcuit 10. Investments The funds that support the Circuit Model Trust Fund are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month. TMCP is the legal owner and Custodian Trustee of all Methodist Trust Property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference. Thls year Last Year Investments listed on a recognised Stock Exchange Investments held in common investment fLtnds, Securities not listed on a recognised Stock Exchange Other investments 10,440 29,563 9,656 27,596 Total 40,003 37,252 Change In Investment values Carrying Imarketl value at beginnin8 of year Add: additions to investments at cost Less: disposals at carrying value Net 8ain/llossl on revaluation Carrying Imarketl value at end of year 37,252 37,441 2,751 40,003 1189} 37,252 11. Analysls of current assets Debtors and prepayments Pre paid Stipends Accrued income Other debtors Total debtors and prepayments 7,002 10,176 429 10,606 7,002 Analysis of cash at bank Bank balance held in Lloyds Bank PIC 10,429 1,584 Total Cash and Bank 10,429 1,584 12. Analysls of current Ilabilltles and long term creditors Trade Creditors Other Creditors 2,900 Total Current Liabilities 2,900 13. Capital Commitments and Contingent Llabllltles At 31st August 2024 the Circuit has no capital commitments12023:Nill. No Contingent liabilities were identified at 31st August 202412023: None)
1111 ill 1111 11 11111 1111 1111 zu
%1 11 11111 1111 11111 111 111 IIHII 11111 11111 11111 3 0 T5
East Lincolnshire Circuit DECLARATIONS Treasurer I confirm that these accrual based accounls for the year ended 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. Sigrsature of Treasurer Date lo Name Michael May (Finance Advisor) Address 9 Links Crescent Skegness Lincs PE25 3AF Presentation to the Clrcuit Meetlng for approval. I confirm that the annual report and accounts for the year ended 31 August 2024 were presented to the Circuit Trustees at their meeting on and were approved. io Signature of the Chair of the meeting Name of the Chair of the meeting Rev Graham Mlles Date io Independent Examiner's Report to the Trustees of the East Lincolnshire Circuit Responslbllities and basis of Report I report to the trustees on my examination of the accounts of the East Lincolnshire Circuit for the year ended 31 August 2024. 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 Charty Commission under section 14515){b> of the Act.
East Lincolnshire Circuit Basis of Independent Examinerfs Report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence Ihat would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair Vie and the report is limited to those matters set out in the statement below. Independent Examlner's Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below.) 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 fom and content of accounls sel 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 independenl examination., or the trustees, annual report is not consistent with the accounts I have no concerns and have come across no other maltefs 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 havelhave 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 at the balance sheet date. ' Please delete as appmpriate Name Kerth May ACMA CGMA Signature Relevant Professional qualification or body CIMA Address Aura Business Centre, Heath Road, Skegness Lincs PE25 3SJ Date Iljl 2r