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← Thames Valley Methodist Circuit

2023-08-31-accounts

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2023

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TRUSTEES’ ANNUAL REPORT

for the year ended

31st AUGUST 2023

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2023

Introduction

Having said “goodbye” to Revd Anne Ellis and Revd Margaret Dudley in August, we had a short time for the Circuit Stewards to get the manses in order to welcome a new staff team, and as always, they did a fantastic job. On the 1st of September 2022, Revd Cliff Shanganya, Revd Dr. Pete Phillips, Deacon Margaret Chipandambira, Lay Worker Ade Benson and Circuit Administrator Pauline Poole, together with Revd Vicci met over dinner at the Spring Lane manse to start to get to know each other.

Unfortunately, the after school club for which we had employed a layworker was predicated on needs identified before covid and increased social media usage and online connection between children and young people has made such an offering less needful. This, together with difficulties in attracting volunteers, meant that this project was discontinued, and we had to say goodbye to Ade, although she is still around in the circuit and has transferred her membership to Windsor Methodist Church.

There has been some movement on the buying and selling of buildings, with the Clarence Road manse sold, and a more appropriate house bought in Lent Green. We are currently awaiting final offers on the sale of Old Windsor and Eton Wick church buildings.

The new presbyters rapidly started to explore the possibilities of alternative services, and Cliff in the Slough section started an All Cultures Service on the 4th Sunday of the month, which has proved popular not just with St Andrew’s, which hosts the service, but also with Ledgers Road and Hampshire Avenue, and the decision has now been taken for these services to be joint services at St Andrew’s on the 4th Sunday. This has an added benefit of reducing the call on Local Preachers on these Sundays.

At High Street, a 9am Communion service has been started on the 2nd Sunday of the month and evening services have restarted on the 3rd Sunday of the month, but with worship band and modern songs making this service something rather different.

Deacon Margaret, our Probationer, has been doing wonderful things at Colnbrook and Poyle United Church where worship is primarily held on a Tuesday and where the new toddler group and a Schedule 14a building sharing agreement with the (Pentecostal) Fort Church has brought increasing life to the building as it seeks to become a hub in the centre of the community.

Burnham Methodist Church responded to the closure of Eton Wick last year by starting a monthly, traditional evening service which is now attracting attendance from ecumenical friends including the Anglican and United Reformed Churches, whose own evening services closed some time ago.

Prayers and Bears at Cookham Rise ceased to meet as there was little take up, but has found a new home as the Celebration Praise element of the Messy Church at Windsor.

Breakfast Church at High Street and Teatime for the Soul, the dementia-friendly service at Windsor are now firmly established in the churches’ calendars and are fulfilling a real need for people who cannot attend our usual 1030 services. These continue to grow as more people return after covid, but sadly we have to note that not everyone has come back and we are grateful for the weekly livestream from High Street that keeps those who cannot attend on site within the circle of church life.

St Mark’s and latterly Burnham, have been exploring a café style format one week a month, with St. Mark’s using the “Growing Good” resource to some effect. Again, these exploratory and alternative ways of doing church together are helping to ease the stress on the Local Preachers who are as always, doing amazing things in supporting the worshiping life of the Circuit. Members will want to save the date for the Circuit Service on the 16th of July at High Street when we will be having a service to celebrate Local Preaching in the Circuit, and in particular the work of Arthur Baker (60 years); Evan Richardson (30 years) and Richard Cracknell (20 years). The preacher will be previous High Street minister Revd Jenny Impey.

Every church has now re-started their social and fellowship events, and the Circuit Pantomime at St Mark’s was a particular highlight. Toddler Groups, Youth Clubs, lunch clubs, coffee mornings, concerts and church fetes have been organised, run and enjoyed and although we are all living with some concern as to the future as our membership ages and fewer people of working age are able to give time to the church, nevertheless, we are in good form and can say with the Psalmist “The boundary lines have fallen for me in pleasant places.”

Rev Vicci Davidson Thames Valley Circuit Superintendent

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2023

Objectives

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

The Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church

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

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

Circuit Vision and Mission

A Methodist fellowship of Christian communities in the Thames Valley, transformed by the Good News of Jesus and demonstrating God's love, peace and justice in all we do.

Worship of the Living God

Learn and Care

Serve

Evangelise

Brief financial review of the year

This was the first year with a full staff consisting of two full time and one part time presbyters and a probationer deacon also not able to give a full week to the Circuit.

This year there was a 4.24% increase in stipends as well as large increases in the council tax for two of the manses. This was divided between the churches according to their incomes in 2021-22 with £38,000 from reserves to cover the deficit in income that year due to Covid. The sale of the Windsor Manse eventually completed in April 2023 and the bridging loan repaid. The net proceeds are held by the Trustees for

Methodist Purposes and the Circuit plans to use these to fund a mission project as well as assisting several of the churches particularly with the cost of heating replacement so that they can continue to minister to their local communities. The budget for the coming year includes a stipends increase of 7.83% at a time when churches are facing large increases in energy costs. It is divided between the churches based on their incomes in 2021/22.

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2023

Structure, Governance and Management

The Circuit is governed by the Deed of Union (1932) and the Methodist Church Act 1976 as amended March 2011. Overall control of the Circuit rests with the Methodist Conference. The Connexional Office implements decisions made by Conference and is also responsible for the stationing of ministers in individual Circuits. Connexional decisions are passed to the Chair of the District and the appropriate Officers of the District for regional implementation. The District passes the control down to Circuit level for local implementation by the Superintendent Ministers, ministerial staff and Circuit Stewards via the medium of the Circuit Meeting. The membership of the Circuit Meeting is laid down in the Constitutional Practices and Discipline of the Methodist Church.

The Circuit Leadership Team comprises four Circuit Stewards, a Senior Circuit Steward, the Circuit Treasurer, the Superintendent Minister and three Ministers. Circuit meetings are held four times a year and are attended by the Circuit Stewards, Church Ministers and representatives from the church congregations. Appointments of new Stewards are made as necessary, with suggestions of who would be most appropriate for the position being accepted from other stewards or ministers. If the person approached, is amenable to taking up office, their nomination is put forward and voted upon at a Circuit meeting. Meetings are chaired by the Superintendent Minister, with those attending becoming the Trustees of the Circuit. It is the Trustees who comprise the decision making body and who will vote on proposals put before the meeting.

Volunteers

The Thames Valley Methodist Circuit is grateful to the Stewards who freely volunteer their time to attend meetings and to carry out the administrative work required in order to run the Circuit successfully.

Legal and Administrative Information

Full Name of Charity: …Thames Valley Methodist Circuit

Registration Charity Number: 1133442 Date of registration 4 January 2010

Main communication address Circuit Office, 1a Spring Lane, Cippenham, Slough SL1 5BQ Telephone Number 01753 536357 Email: tvmc6off@btconnect.com

Website: http://www.methodistthamesvalley.org.uk/

Paid part time Administrator: Pauline Poole

Susan Le Page acted as the principal officer overseeing the day to day financial management and accounting for the circuit during the year.

Independent examiner

Richard Bridgen

Bridgen Watkins& Wainwright, Suite 1A, 1[st] Floor, 18 Crendon Street, High Wycombe, HP13 6LS

Bankers

The Co-operative Bank p.l.c. P. O. Box 250, Skelmersdale WM8 6WT

Central Finance Board 9 Bonhill Street London EC2A 4PE

Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ

Thames Valley Methodist Circuit Trustees Report y.e 31 August 2023

Trustees

The members of the Thames Valley Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches.

Active Circuit Ministers

Rev Vicci Davidson, Superintendent Minister and chair of Circuit Meetings Rev Cliff Shanganya Rev Dr Pete Phillips Deacon Margaret Chipandambira

Circuit Lay Worker Ade Benson to 7 Nov 2023 Circuit Stewards Joyce Brown Elizabeth Tottingham Keith Machin to May 2023 Anne Haggarty Phil Mount from May 2022 Susan Le Page, Circuit Treasurer

Other Circuit Meeting Members

Amankwah, Kwabena Short, Jane Brown, Marilyn Statham, John Buckman, Charles Sturgeon, Jenny Bulley, Frank Tottingham, Dave Cheeseman, Brenda Trout, Sue Clifford, Sue White, Rev Dr Malcolm Connor, Naomi White, Peter Crockett, Patie Wren, Chris Davidson, Elanor Wren, Janice Filmore, Christine Yannacopoulos, Jason Filmore, Dr Edward Foster, Judith Harrison, Linda James, Ruth Kendon, Felicity Mount, Alison Mount, Alison Mount, Philip Phipps, Diana Richardson, Evan Richardson, Jackie Rickman, Kathy Ridley, David Rivett, Jane

Thames Valley Methodist Circuit Trustees Report y.e.31 August 2019

THAMES VALLEY METHODIST CIRCUIT

Charity Registration Number 1133442

FINANCIAL STATEMENTS

For the year ended 31st August 2023

Contents Page
Statement of Financial Activities y.e 31st August 2023 1
Statement of Financial Activities y.e 31st August 2022 2
Balance Sheet 3
Notes to the Accounts 4 - 8
Cash Flow Statement 9
Trustees Report
Declarations and Scrutiny

Thames Valley Methodist Circuit

Circuit No. 36/4

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

Notes to
the
accounts
General Fund		 Circuit Model
Trust
Manse Fund		 Building Reserve Fund Mission Development Fund Total
2022-23
£ £
£		 £ £ £
Income
Capital Receipts BS1 -900,000 1,000,000 100,000
Assessments on Churches 3 220,272 220,272
Rental Income 4 -
Interest received 4,121 1,945 6,066
Donations -
Other 6 360 360
Total Income 675,247
-		 1,001,945 - - 326,698
Expenditure
Loan Repayment BS5 -730,000 730,000 -
Costs re manse sales 7 19,479 19,479
Costs re manse purchases 8 -
Grants and donations 9 30,000 250 30,250
Loan to church BS3
Salaries and associated costs 10 143,551 143,551
Property expenses 11 27,728 15,000 42,728
Connexional assessment & model trust levy 12 45,422 13,567 58,989
District Assessment & Levy 13 13,292 13,292
Office expenses 14 15,522 15,522
Training & Resources for mission 15 1,403 1,403
Bridging Loan Interest 20,852 20,852
Total charitable expenditure -483,083 783,898
15,000
30,000		 250 346,065
Net income/expenditure before property gains -192,164 218,047
15,000
-
30,000
-
-		 250
 -19,367
Gains/losses on revaluing manses BS1 0
Net income/expenditure -192,164 218,047
15,000
-
30,000
-
-		 250
 -19,367
Transfers between funds BS6 28,900 -71,150
12,000
30,000		 250 -
Net movement in funds -163,264 146,897
-3,000		 0 - -19,367
Total funds brought forward 3,288,971 -
28,000
20,000
10,000		 3,346,971
Total funds carried forward 3,125,707 146,897
25,000
20,000
10,000		 3,327,604

Thames Valley Methodist Circuit

Circuit No. 36/4

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

Notes to the
accounts		 Notes to the
accounts		 General Fund
Circuit Model		 Trust Manse Fund Building Reserve Fund Mission Development Fund Total
2021-22
£ £ £ £ £ £
Income
Capital Receipts 2
Assessments on Churches 3 247,485 247,485
Rental Income 4 13,200 13,200
Interest received 537 385 922
Donations
Other 6 -
Total income 261,222 385 261,607
Expenditure
Loan repayment BS5 -
Costs re property sales 7 9,237 9,237
Costs re manse purchase 8 10,904 10,904
Grants and donations 9
Salaries and associated costs 10 126,869
15,000		 141,869
Property expenses 11 34,863 34,863
Connexional assessment 12 51,197 51,197
District assessment & levy 13 12,623 4,950 17,573
Office & administration expenses 14 13,086 425 13,511
Training & Resources for Mission 15 1,562 1,562
Bridging Loan Interest BS4 5,382 5,382
Total charitable expenditure 265,722
20,374		 286,097
Net income/expenditure before property gains -4,501
-19,990		 -24,490
Gains/losses on revaluing manses BS1
Net income/expenditure -4,501
-19,990		 -24,490
Transfers between funds BS6 132,007
-129,007		 -3,000
Net movement in funds 127,506
-148,996		 -3,000 -24,490
Total funds brought forward 3,161,465
148,996		 31,000 20,000 10,000 3,371,461
Total funds carried forward £3,288,971 £28,000 £20,000 **£10,000 ** £3,346,971

Thames Valley Methodist Circuit

Circuit No. 36/4

Balance Sheet as at 31 August 2023

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Totals Totals
2022/23 2021/22
£ £ £ £ £ £ £
Fixed Assets
Circuit Manses BS1 3,040,000 3,040,000 3,940,000
Total fixed assets 3,040,000 0 0 0 0 3,040,000 3,940,000
Current Assets
Debtors BS2 35,238 35,238 40,404
Loans to churches BS3 36,168 36,168 0
Investments with TMCP 146,897 146,897 0
Central Finance Board Deposits 105,447 105,447 134,162
Cash at Bank and in hand 30,126 30,126 29,168
Total current assets 206,979 146,897 0 0 353,876 203,735
Current liabilities
Creditors (due in under 1 year) BS4 66,272 66,272 66,764
Loan payable within 2022-23 BS5 0 0 730,000
Total current liabilities 66,272 0 0 0 0 66,272 796,764
Net current assets/liabilities 140,707 146,897 0 0 0 287,604 -593,029
Total assets less current liabilities 3,180,707 146,897 0 0 0 3,327,604 3,346,971
Long term liabilities
(due after more than one year)
Bridging Loan Chapel Aid BS5 0 0
Net assets 3,180,707 146,897 0 0 0 3,327,604 3,346,971
Funds of the Circuit
General Fund (Unrestricted) 3,125,707 3,125,707 3,288,971
Circuit Model Trust Fund (Unrestricted) 146,897 146,897 0
Manse Fund 25,000 25,000 28,000
Building Reserve Fund 20,000 20,000 20,000
Mission Development Fund 10,000 10,000 10,000
Total Unrestricted Funds 3,327,604 3,346,971
Total Funds 3,125,707 146,897 25,000 20,000 10,000 3,327,604 3,346,971
Notes to the Accounts General Fund Circuit Model Trust Manse Fund Building Reserve Fund Mission Development Fund
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Signed

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Circuit Treasurer

Mrs S P Le Page

16-Feb-24

Notes to the Accounts

1 Basis of Accounting and Accounting Policies

a Accounting Standard

The financial statements have been prepared under the Charities Act 2011 in accordance with 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 (FRSSE102) 2015 applicable in the UK and in accordance with the ‘true and fair override’ provision contained therein.

b Public benefit entity

The Thames Valley Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below.

c 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. The accruals basis has been used and trustees present accounts that show a true and fair view of the Circuit’s financial position and activities.

d 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, rounded to the nearest pound. Where the content of this year’s accounts is different from that of the previous year, the comparative year’s numbers have been adjusted and restated to be in the same format and on the same basis.

e Going concern

Based on the monetary assets and human resources available at 31 August 2023, the trustees believe that the Circuit is a going concern.

f Consolidation

The Circuit oversees the work of ministers and lay workers in Churches within the Circuit but does not have control over those Churches, ministers or lay workers except in extreme circumstances, none of which were applicable. For this reason, the financial statements of the Churches within the Circuit are not consolidated into these financial statements.

g Income Recognition

Income is brought into account when it is more likely than not that the economic benefit will be forthcoming. The Circuit acts as agent in the collection from churches and payment over of their contributions to the Methodist Church Mission fund and specific gift collections. These transactions are not reflected in the SOFA but shown in the Notes to the Accounts as required by SORP(FRS102) module 19.12.

h Expenditure

This is recognised when a liability is incurred, or a constructive obligation arises, where the amount is reliably measureable and it is considered more likely than not that there will be an outflow of economic benefit.

i 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.

j VAT

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

k Tangible fixed assets

Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £1000.

The freehold property is shown in the accounts at 2019 market values, the insurance re-instatement value has been used for buildings subtracted to give the land value. No depreciation is provided on the building because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The property has been reviewed for impairment.

l Debtors and Creditors

Debtors are stated at the amounts owed to the Circuit or prepaid. This includes the September stipend cost which is paid to the Methodist Church in August. Creditors include both sundry expenses and accruals including the 1st quarter assessment due in August and loan interest accrued.

m Ministers' manse costs

The Circuit is required to provide accommodation for each minister in the Circuit and their families and this is seen as a benefit to the Circuit. Ministers are expected to occupy the manse provided for them. The Circuit bears the cost of repairs, maintenance, buildings insurance, Council Tax and water charges. These figures are not separately disclosed as benefits-in-kind for ministers as HMRC does not seek to tax these receipts in the hands of ministers.

n Funds Structure

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 are held for a narrower purpose. There are no Endowment funds. Details of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash.

o Reserves Policy

General Fund

The Fund is to be maintained at a minimum of 3 months’ worth of annual expenses less transfer to other reserve funds and a maximum of 6 months’ worth of annual expenses. This is to manage risk and meet unplanned expenditure calls on the Circuit. For 2022/23 this is a minimum of 65,000 and a maximum of £130,000.

Manse Fund

This Fund is to be built up, by year 5, to £15,000 per owned Manse, in order that monies are available for works necessary at the change of Minister. The Fund, in addition, is to maintain a running buffer of £10,000 per annum

Building Reserve Fund

The Fund is maintained at £20,000 per annum. The Circuit Meeting to decide if a Loan should be granted. The Circuit Meeting delegates authority to the CLT to set the Loan Interest Rate.

Mission Development Fund

The Fund is maintained at £10,000 per annum. The Fund is to be used as a ‘primer’ source of money for larger mission schemes as well as a source for helping fund smaller local projects

The Circuit Meeting delegates authority to the CLT to receive and decide each application. Any decisions made are to be reported for information to the next Circuit Meeting.

**2 ** Capital Receipts 2022/23 2021/22
Sale of manse see note BS1 £1,000,000
**3 ** Assessments on Churches 2022/23 2021/22
£220,272 £247,485

The Circuit comprises 10 congregations meeting in 10 churches and each is assessed for a contribution to meet the overall net costs of the Circuit. The Circuit aims to cover all its net core costs from the Assessment and reserves over and above the reserves policy figure for the General Fund. An Assessment on Churches is annually determined by the Circuit according to affordability. Assessments on churches are quarterly in advance and are treated as pre-payments on a receivable basis. If any church has not paid its assessment by the due date the sum in question is also treated as a debtor.

4 Rental Income
2022/23
6 Other Income
2022/23
Coffee mornings
360
7 Costs re property sales
2022/23
Sale of manse
Professional costs
14,896
Other costs whilst empty
543
Sale of churches
Professional costs
Other costs whilst empty
4,040
£19,479		 2021/22
13200
2021/22
2021/22
1,395
5,014
2,828
£9,237
**8 ** Costs re manse purchases 2022/23 2021/22
Professional costs 6320
Refurbishment 4,584
£10,904
**9 ** Grants and donations 2022/23 2021/22
Grant for mission work 250
Grants for property repairs 30,000
£30,250
**10 ** Salaries and associated costs
Ministerial Staff Costs paid during the year were: FTE 2022/23 FTE 2021/22
Gross wages, salaries and benefits in kind 98,045 80,567
Employer’s National Insurance costs 8,792 7,732
Pension costs 25,353 20,840
Pension top up contribution 15,000
Apprentice Levy 492 417
Total ministerial staff costs with full time equivalent number 3.5 £132,681 3 £124,556
Other staff costs
Removal costs - ministers arriving Aug 4,527
Relocation grant - ministers arriving Aug 1,784
Lay worker 2022/23 2.25 mths 2021/22 2.5 months only 0.15 2,098 0.15 2,659
Office administrator 0.375 8,022 0.375 7,542
Fees for other preachers 750 800
Total staff costs £143,551 £141,869

No employees received employee benefits of more than £60,000. There is no accrual for holiday pay as it is immaterial; the holiday year ends on 31 August. All staff are paid at or above the Living Wage, as directed by the Methodist Conference.

10a Payment to Trustees

The Superintendent of the Circuit, the other Ministers and the remaining members of the CLT are considered as Key Management Personnel. The Superintendent chairs meetings of the CLT and Circuit Meetings. The members of the Circuit Meeting are the trustees of the Circuit. The stipends, employer’s NIC and employer’s pension contributions and other expenses of the Ministers of the Circuit are paid by the Circuit. The manses are provided by the Circuit and the Circuit maintains the property. The value of the Council Tax and water charges paid by the Circuit is not disclosed here as HMRC does not regard this as a benefit-in-kind in the hands of the minister. Each Minister is entitled to a 3 month sabbatical every 5 years and the expenses incurred by the Presbyter are met by the Connexion with the Circuit continuing to pay the stipend. During the year there has been one sabbatical. The Circuit does not accrue for holiday pay cover as the remaining staff cover the holidays as needed and without extra pay.

Four Ministers were employed during the year (2022 three). The remaining trustees neither received nor waived any emoluments during the year. (2022 nil)

2022/23 2021/22
Expenses reimbursed No. claimants Travel Other No. claimants Travel Other
Ministers 4 £6,236 £2,935 3 £5,500 £1,416
Other Trustees 4 £44 £416 4 £1,934
Office Administrator 1 £558 1 £498

There was one payment of £400 made to a trustee for additional services, provided to the Circuit by agreement with the Circuit Meeting, excluding stipends. Other expense payments primarily relate to reimbursement for internet services, printing, hospitality and small manse property costs.

**11 ** Property expenses 2022/23 2021/22
Council Tax 10,577 8,378
Water charges 1,000 1,606
Insurance 4,258 3,617
Maintenance 7,700 5,988
Manse Refurbishment 15,182 9,551
Quinquennial inspection of manses 1,692
Total expenditure on manses £40,409 £29,140
Costs whilst manse empty 50
Quinquennial inspection of churches 1,358 4,712
Circuit office rent 960 960
£42,728 £34,863
**12 ** Connexional assessment & model trust levy 2022/23 2021/22
Connexional assessment £45,422 £51,197
CPF Levy 13,567
**13 ** District assessment & levy 2022/23 2021/22
District Assessment 13,292 12,623
Levy on Model Trust Balance 4,950
£13,292 £17,573
**14 ** Office & administration costs 2022/23 2021/22
Telephone and Broadband 5,430 4,090
Travel Expenses 6,420 5,645
Printing, Postage & Stationery 1,002 851
Staff recruitment costs & DBS 38 288
Accountancy & Payroll costs 1,360 1,330
Hospitality 303 297
Bank Charges 0 40
Office equipment 407 0
Website & Plan software 562 546
TMCP admin charge 15,522 13,086
425
£15,522 £13,511
**14a ** Fees for independent examination of the accounts 2022/23 2021/22
**15 ** Training & Resources for Mission £960
2022/23		 £960
2021/22
Conferences, retreats & training 205 148
Resources 877 1,192
Youth Work 320 221
£1,403 £1,562
**16 ** For information only money received and passed on 2022/23 2021/22
Received Paid Received Paid
Easter Offering for Methodist World Mission Fund. £1391 total
donated including by churches directly (£2215) £631 £631 £826 £826

BS1 Manse Properties

The values at September 2019 have been shown to ensure parity overall.

The values at September 2019 have been shown to ensure parity overall. shown to ensure parity overall.
Aug-19 Aug-19 Market Value **Disposal Revaluation ** Revaluation Gain/Loss
Building Land 2019 Building Land
Clarence Road
384,284		 515,716 900,000 1,000,000 100,000
Spring Lane
299,715		 200,285 500,000 299,715 200,285
Poplars Grove
360,000		 465,000 825,000 360,000 465,000
Sutton Avenue
490,000		 350,000 840,000 490,000 350,000
Lent Green val Apr 2022
400,000		 475,000 875,000 400,000 475,000
£1,933,999 £2,006,001 £3,940,000 £1,000,000 £1,549,715 £1,490,285 £100,000
**BS2 ** Debtors & Prepayments
Church Assessments received late
Stipends, Pension, NI
Resources
Methodist Insurance		 2022/23
20,521
11,774
579
2,364		 2021/22
26,468
11,057
386
2,494
£35,238 £40,404
**BS3 ** Loans to churches 2022/23 2021/22
**BS4 ** Loan to Ledgers Road Methodist Church
Creditors, Accruals and Income in Advance
Assessments in advance
Staff Expenses
Lay Worker, Pension, NI
Other
Telephone & Broadband
Examination of accounts
Interest accrued on bridging loan		 £36,168
2022/23
64,190
165
218
278
441
980		 2021/22
54,380
1,051
119
4,553
299
980
5,382
£66,272 £66,764
**BS5 ** Bridging Loan
June 2022 Bridging Loan from Methodist Chapel Aid Limited
Repayment on sale of manse April 2023 2020		 730,000
-730,000		 730,000
0
£0 £730,000
**BS6 ** There were no other capital commitments or contingient liabilities at
Manse Fund
2021-22
Poplars
3,000
Purchased Mar 2019
Sutton
3,000
Purchased July 2019
Clarence/Lent Green
3,000
Refurbishment due summer 2022
-15,000
Spring Lane
3,000
Refurbishment summer 2025		 31 August 2023.
2022-23
3,000
-15,000
3,000
3,000
3,000		 2023-24
3,000
3,000
-15,000
3,000
3,000		 2024-25
3,000
3,000
3,000
3,000
-15,000		 2025-26
3,000
3,000
3,000
3,000
Transfer from General Reserve
Adjustment from General Reserve
Bal. b/f including £10,000 buffer		 -3,000
31,000		 -3,000
28,000		 -3,000
25,000		 -3,000
22,000		 12,000
19,000
Bal.c/f £28,000 £25,000 £22,000 £19,000 £31,000

Thames Valley Methodist Circuit

Circuit No

36/4

Cash flow statement for the year ended 31 August 2023

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2023 2022
Statement of cash flows £ £
Cash from operating activities
Net cash used in operating activities -156,927 -46,171
Cash flows from investing activities
Dividends,interest and rents from investments 6,066 14,122
Proceeds from the sale of property,plant and equipment 1,000,000
Purchase of property,plant and equipment -875,000
Other
Net cash provided by investing activities 1,006,066 -860,878
Cash flows from financing activities
New borrowing 730,000
Repayments of borrowing -730,000
Net cash used in financing activities -730,000 730,000
Change in cash and cash equivalents in the reporting period 119,139 -177,049
Cash and cash equivalents at the beginning of the reporting period 163,331 340,380
Cash and cash equivalents at the end of the reporting period £282,469 £163,331
2023 2022
Reconciliation of net income to net cash flow from operating activities £ £
Net income for the reporting period (as per statement of financial activities) -19,367 -24,490
Adjustments for:
Profit on the sale of fixed assets -100,000
Dividends, interest and rents from investments -6,066 -14,122
(increase)/decrease in debtors -31,002 -1,067
increase/(decrease) in creditors -492 -6,492
Net cash used in operating activities -156,927 -46,171
2023 2022
Analysis of cash and cash equivalent £ £
Cash in hand 30,126 29,168
Short term deposit (less than 3 months) 252,344 134,162
Total cash and cash equivalents £282,469 £163,331
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Name of Circuit Thames Valley Meth(yJisl Cirrxxt 3814 Registewl Charity No. 1133442 Declarations and Scrutiny I confimi that Ihe8e accruats-ba8ed accounts for the year lo 31 AUg￿t 2023 ha￿￿ been prep¥ed from the records of the Circuit and that ttrry irKts￿e al funds under the LX¥rtToI of the CitBuil meeting. Signature of treasurer Date 16th February 2024 Name and *Jdres8 of treasurer Mrs Su8an P Le Page 50 High Road. Cookham Rise, MaKlenh8ad Post Code SL8 9HR Pre8entatlon to the Clrcult meetlng I confirm that the annual report and accounts ftx the y&ar ended 31 August %)23 will be pre8ented to the Circuit meeting held on 28th February 2024 S￿nature of the Chair of the meeting: .. Name of the Chair ol the meeting.. Rev Vitxi Davidson Independent Examlnerfs Report to the Tfustees of tho Thames Valley Methodlst Clrcurt Charlty Number 1133442 RMpon8lblllQl•• and ba818 of rnport I report to the trustees on my exarninatlon of Ihe accounts of the Thames Valley Methodisl Circuit for the year ended 31 August 2023 set out on pages 1 to 10. As the Circuivs trustees, Y￿ are responsible for the p￿ParatIOn of the accounts in accordan￿ with requirèments of the Charitres Act 2011 (Ihe Act.). I repr)rt in respect of my examination of the cir￿11,8 aCC￿nts carried out uThJer sect￿￿ 145 of the Act and, in iarrying out my examination. I have followed all the applwble Directions gI￿n by the Charty Commission under section 145(5)(b) of the Act. . delete or Circ￿ a3 appropriate

Name of Circuit Thames Valley Methcmjist Circul W4 Registered Charty No. 1133442 Independent Examlnerfs Statement The Circuil's gross income èxc88d8d £250,(m and l quakfRd to undertth the examinati￿ by being a qualif￿ member of the Institute of Chartered Acts)unlants in Erryland ar￿ Wales. I have cornpleted my examination. I confimi that no material rnatters have Come to my attention in connection with the examinab'on which give me cause lo believe that in. any material respect." the accounling records were not kept in a(￿rdan￿ with sedion 130 of the Act: or th8 8¢counts do not accord wtth the aC￿U￿tIr￿j Twds", or the accounts do rth compty with the applr2b18 ￿UNam8nts (xxThmir¥ lh8 fomi contsnt of aec(Junts set out in the Charities {Accxwnts arnj R8p)rts) R8gUIatMX￿ 2008 other than any r8quirement that the accounts gNe a Ifue vw. whith is not a matter ¢x)rtsKkred as part of an independent examinalx)n. the tru8tees' annual report is not consistent with the accounts. I have no concerns and have come across no ott￿r matter5 in connection wth the ex8mination to which attention Should be drawn in this ￿pOrt in order to enabl8 a proper understanding of the aceounts to be reached. I havelhave nor obtsined independent verffication of all investrnents wilh the Truste88 for Meth¢xli5t Church Purposes or held in other trusts. bank ba￿nCeS and funds at the Central Finan￿ Board of the Methodist Church whiGh are individually in ex￿ of £10,000 (ten thousand pounds) al the balance sheet date. Signature of independ•nt examiner Name of independent examlner.. R BrKlgen............................................................. Relevant professtonal qualtfication of independent examiner... FCA.... Name of firm (where appropriate): . BVWI.................................,................................... Address". .. 18 Crendon Street. Hlgh Wy￿Mbe, 8u(*J . P081 Code: ..HP13 8LS Date: 19th Febnjary 2024. . delete or cird8 as 8PPfopnate