**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

**Financial statements for year ended 31 August 2024** 

34/15 North Hertfordshire Circuit 

## **TRUSTEES' ANNUAL REPORT** 

## **and** 

## **FINANCIAL STATEMENTS** 

for the year ended **31 AUGUST 2024** 

Charity registration number:  1133930 

1 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

**Financial statements for year ended 31 August 2024** Contents 

||Page|
|---|---|
|**Administrative information**|3|
|**Trustees’ Report**|4|
|**Financial Report**||
|Risk management|10|
|Trustees’ expenses|10|
|Trustees’ responsibilities|10|
|Financial review|11|
|Reserves policy|12|
|**Financial Statements for year 2023-2024**|14|



2 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

**Financial statements for year ended 31 August 2024** Administrative Information 

## **Circuit Ministers** 

Rev Graham Claydon-Knights Rev Val Reid Rev Zdzisiu Hendzel Rev Emmanuel Onabanjo Rev Julian Blakemore Rev Melanie Crowley Chandrika Perera Rev Peter Orton Rev John Whittle Rev N Young Rev R Forrest Deacon Malcolm Knowles 

(Joint-Superintendent from 1 September 2022 to 31 August 2023) (Joint-Superintendent from 1 September 2022 to 31 August 2023) Superintendent from 1 September 2023 Minister from 1 September 2023 (Sector Minister – Banking) (Anglican – Authorised Minister) 

Supernumerary Minister Supernumerary Minister Supernumerary Minister Supernumerary Deacon 

## **Circuit Stewards** 

Allison Ffinch Janet Tackley Gill Hughes Vic Evans Sara Crowley Sue Chastney 

Joint Senior Steward Joint Senior Steward 

## **Circuit Meeting Secretaries** 

Jasmine Hilfer 

## **Circuit Administrator** 

Jasmine Hilfer Central Methodist Church Pixmore Way Letchworth Garden City Herts SG6 3TR 

## **Custodian Trustees** 

(for Property and Investments) Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ 

## **Circuit Web Site Address** 

www.nhmethodist.org.uk 

**Bankers Investment Adviser Independent Examiner** Lloyds Bank PLC Central Finance Board of the Sandeep Shah FCCA Leadermans PO Box 1000 Methodist Church St Christopher’s House BX1 1LT 9 Bonhill Street Ridge Road London Letchworth Garden City, Herts EC2A SG6 1PT 

3 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## Trustees’ Report 

## _**Governance and Management**_ 

The Circuit is governed by the Methodist Church Act 1976, the Deed of Union and the Model Trust Deeds of 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 the discipline of the Methodist Church, and 

- b any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church, and 

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

The Circuit is a group of local churches some of which are Local Ecumenical Partnerships (LEPs) with other denominations.  Circuits combine to form about 30 districts in Great Britain.  Although there is some autonomy, all Methodist organisations in Great Britain are governed by statutes determined by the Methodist Conference and which are published in the Constitution, Practice and Discipline (CPD) of the Methodist Church.  Conference is the supreme body within the church: it delegates much of its authority to the Methodist Council.  Both Conference and Council consist of lay and clerical members. 

In setting our objectives and planning our activities the Circuit Meeting, held at least twice in each year, has given careful consideration to the Charity Commission’s general guidance on public benefit and, in particular, to its supplementary public benefit guidance on advancing our objectives as set out above. 

During the year the Circuit Leadership Team (CLT) - the Circuit Ministerial Staff and Circuit Stewards - met every two months to review the life of the Circuit and to take forward the decisions of the Circuit Meeting. 

The Trustees and members of the Circuit Meeting are one and the same.  They are also Managing Trustees for the property (manses) in the Circuit and for the Circuit Investments.  The Trustees have no responsibility for individual churches in the Circuit. 

## _**Activities**_ 

**OUR MISSION IS:** to show and share God’s love in Christ, that the community of faith may grow. 

**OUR POLICY** : is to encourage and support the churches in the circuit to: 

- . 

- Grow in our faith and numbers as communities and God's people. 

- Show God's love in our worship and being; as church and as individuals. 

- Share the good news of 'God with us' and the story of our faith. 

4 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** _**Organisational Structure**_ 

- 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, and the Circuit Meeting. 

- The Districts pass the control down to Circuit level for local implementation by the Superintendent Minister, Ministerial staff and Circuit Stewards and authority is delegated to the Circuit Meeting for certain matters 

- The Circuit meeting passes control down to Church Councils for local implementation by the Minister, the Church Stewards and other officers and authority is delegated to Church Councils acting as Managing Trustees. 

- The Circuit Superintendent chairs meetings of the Circuit Leadership Team (CLT) and the Circuit Meeting, which trustees are expected to attend.  Policy decisions are taken at the Circuit Meeting. 

- The Methodist Connexional year runs from 1 September to the following 31 August. 

## _**Charity Registration**_ 

The North Hertfordshire Methodist Circuit was registered as a charity (registration number 133930) in February 2010. 

The trustees confirm that they have complied with the duty under the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit.  Specifically: 

- many churches make their premises available to other organisations that need somewhere to meet ( _eg_ choral and drama groups, The National Trust) 

- some churches have long term tenants (e.g. a playgroup at Trinity) 

- uniformed organisations (scouts, cubs, beavers, guides, brownies and rainbows) are affiliated to many of our churches 

- lunch clubs are provided for the housebound 

- other outreach activities 

- opening some of our churches most days of the week to the homeless 

- raising money for charities and activities locally and overseas ( _eg_ the annual Good Friday sponsored walk raises over £2500 for charities) 

## _**Safeguarding**_ 

The Circuit follows the Connexional policy on safeguarding as detailed in _Creating Safer Space._ Each church has a safeguarding representative and there are two safeguarding officers in the circuit to ensure the adoption of safe practice amongst children and vulnerable adults. 

5 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** _**Trustees**_ 

The following people served as trustees of the Circuit during the year 2023-24. 

|**Trustees name**|**Appointed**|**Office**|**Appointing Body**|
|---|---|---|---|
|Rev Zdzisiu Hendzel|Sep-23|Joint Superintendent Minister|Ex officio|
|Rev Val Reid||Joint Superintendent Minister|Ex officio|
|Rev Emmanuel Onabanjo|Sep-23|Minister|Ex officio|
|Rev Julian Blakemore||Minister|Ex officio|
|Rev Melanie Crowley||Minister|Ex officio|
|Rev Chandrika Perera||Minister|Ex officio|
|Rev John Whittle||SupernumeraryMinister|Ex officio|
|Deacon Malcolm Knowles||SupernumeraryDeacon|Ex officio|
|||||
|**Circuit Meeting**||||
|Allison Ffinch|Sep-19|Circuit Steward|Circuit Stewards|
|Andrew Surry|Sep-09|Church Representative|St Faith's Joint PCC|
|Barbara Cook|Sep-14|WorshipLeader|Circuit Meeting|
|Bob Hamilton|Oct-20|Church Representative|SHSJ|
|Brian Burgess|Sep-08|Church Representative|Benington Church<br>Council|
|Cath Edmonds|Sep-19|Church Representative|Christchurch Church<br>Mtg|
|David Latter|Sep-08|Local Preacher(Tutor)|Local Preachers Mtg|
|Diane Graham|Sep-13|Church Representative/Connex.<br>Funds|Christchurch Church<br>Mtg|
|Georgina Offie|Sep-18|Church Representative|All Saints Joint PCC|
|Gill Francis|Sep-18|Church Representative|Baldock Church Mtg|
|Helen Hofton|Sep-15|Church Representative|Pirton Church<br>Council|
|Ian Brakenbury|Sep-09|Church Representative|Pirton Church<br>Council|
|J Alan Burrell|Mar-16|Church Representative|St Paul's Church<br>Council|
|Janet Tackley|Mar-11|Circuit Steward/Church<br>Representative|Pirton Church<br>Council|
|Jennifer Rogers|Sep-10|SafeguardingAdvisor|Circuit Meeting|



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**Charity No. 1133930** 

## **North Hertfordshire Methodist Circuit** 

## **Financial statements for year ended 31 August 2024** 

|JohnSharman|Mar-08|Church Representative|Central Church<br>Council|
|---|---|---|---|
|Jonathan Battarbee|Sep-19|Church Representative|Central Church<br>Council|
|Julie Mills|Sep-20|Church Representative|Christchurch Church<br>Mtg|
|June R Simpson|Mar-08|Church Representative|Stotfold Church<br>Council|
|Ken Sharpe|Nov-16|Church Representative|High St|
|Margaret Turner|Mar-11|Church Representative|Stotfold Church<br>Council|
|Nirmal Chopde|Sep-19|Church Representative|High St|
|Norman Kiddle|Sep-15|Church Representative|All Saints Joint PCC|
|Peter Davies|Mar-11|Church Representative|Benington Church<br>Council|
|Peter Dron|Sep-08|Church Representative|All Saints Joint PCC|
|Robert Driver|Sep-20|Church Representative|Baldock Church Mtg|
|RoyRobinson|May-21|Church Representative|Baldock Church Mtg|
|Sara Crowley|Sept-22|Circuit Steward|Circuit Meeting|
|Sue Chastney|Sep-09|SafeguardingAdvisor|Circuit Meeting|
|Valerie Triplow|Sep-15|Church Representative|Stotfold Church<br>Council|
|Victor Evans|Sep-19|Circuit Steward|Circuit Stewards|
|Vivien Storey|Mar-08|Church Representative|Central Church<br>Council|



7 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## _**Staff changes**_ 

Rev Zdzisiu Hendzel joined the Circuit in September 2023 as Superintendent. Rev Emmanuel Onabanjo also joined the Circuit in September 2023. 

In March 2023, Jenny Wright retired as the Circuit Administrator, Jasmine Hilfer was successfully recruited to this position. 

## _**Review of Objectives set for the Year ended 31 August 2024**_ 

We were a member of staff short during the year 2022/23 due to the ongoing stationing issues within the Methodist Church. 

The two Methodist ministers remaining in the Circuit acted as joint-superintendents. They focused on four key areas of Circuit life: 

1. Creating small groups of Circuit stewards/ministers/paid Circuit staff to take shared responsibility for tasks, so that no-one is on their own with big decisions. 

2. Building up and supporting the team of Circuit ministers (Methodist and Anglican) and Local Preachers. 

3. Ensuring that safeguarding good practice is shared and Circuit records are up to date. 

4. Ensuring that necessary property work on churches and manses is undertaken and properly recorded. 

We have continued to provide support for the congregations of the two churches in the Circuit where worship has ceased. We are currently managing the sale of one of these churches and will also support the sale of another church where the congregation remains active. 

## _**Objectives set for the Year ended 31 August 2025**_ 

We have welcomed a new Superintendent Minister and a new MOCC (Ministers from Other Churches and Conferences) Minister in September 2023 and we look forward to working together. 

We are planning a Circuit awayday in  2024 with the objective of creating a Circuit Vision Statement. 

We will also look to provide support to our churches in discerning and following their mission. 

We intend to review the policies and procedures in place and to update or establish policies as necessary. 

We will seek to strengthen ecumenical co-operation with churches and organisations within our Circuit boundary. 

Further ahead we will be welcoming a new minister into the Circuit following the planned sitting down of Rev Val Reid in August 2024. 

8 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## _**Churches in the Circuit**_ 

All Saints Church Pin Green Stevenage Herts (LEP* with Church of England) Arlesey Methodist Church Beds Baldock Methodist Church Herts Benington Methodist Church Central Methodist Church Letchworth Garden City Herts Christchurch Hitchin Herts (LEP* with United Reformed Church) High Street Methodist Church Stevenage Herts Norton Methodist Church, Letchworth Garden City Herts Pirton Methodist Church Herts St Faith’s Church Hitchin Herts (LEP* with Church of England) St Hugh & St John Church, Chells Stevenage Herts (LEP* with Church of England) St Paul’s Methodist Church Broadwater Stevenage Herts Stotfold Methodist Church Beds Trinity Church Knebworth Herts (LEP* with United Reformed Church) 

*LEP = Local Ecumenical Partnership 

9 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## **Financial Report** _**Risk Management**_ 

Through its CLT risks faced by the Circuit have been considered.  Where appropriate, risks have been transferred by paying insurers to take the risks.  Security and safety of our churches is largely for those churches to determine and to mitigate following advice from Circuit Officers. 

All churches and manses are the subject of quinquennial inspections and the reports on each are reviewed by the circuit as well as the local trustees.  Action is taken to reduce the risks of injury to all who have a legitimate purpose to be on those premises. 

We have considered the resilience of churches and the risk that they will not meet their quarterly financial assessments.  We judge that there are sufficient resources to cover any probable shortfall in the following year. 

The Circuit operates within a statutory framework of regulation and seeks to ensure that it follows Methodist standing orders.  It relies on the Methodist Council to provide guidance on changes that could affect the Circuit. 

## _**Trustees’ Expenses**_ 

Members of the Circuit Meeting received neither payment nor reimbursement of their expenses in connection with their function as trustees. The only expenses paid were to the staff of the Circuit in connection with fulfilling their roles. 

## _**Trustees’ Responsibilities**_ 

The Trustees are required to prepare financial statements for each financial year that give a true and fair view of the Circuit’s financial activities during the year and of its financial position at the end of the year.  In preparing these financial statements, the Trustees have: 

- selected suitable accounting policies and applied them consistently using the accruals method 

- - made judgements and estimates that are reasonable and prudent 

- followed applicable accounting standards 

- prepared the financial statements on the going concern basis. 

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Circuit and enable them to ensure that the financial statements comply with the law.  They are also responsible for safeguarding the assets of the Circuit and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

Trustees have a right to advise the independent examiner of their concerns but none has done so.  CLT concludes, therefore, that there are no issues to be advised to the independent examiner. 

Following advice from Connexion the Trustees have produced a Health and Safety policy for the Circuit that will be regularly reviewed. 

10 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## _**Financial Review**_ 

The Circuit’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 102 

The Circuit prepares accruals accounts, but do not consolidate accounts of Circuit churches. 

The Circuit budget is prepared by first anticipating the expenditure for the forthcoming year and then determining how that sum will be raised.  Around 75% of the income (excluding St Pauls items, see below) for the year came from the individual churches within the circuit, with a total of £199,214 being received (2023: £181,552). The Circuit is grateful for the individual churches continuing to meet their assessment during the year. 

In 2023-24 the Circuit experienced an unrestricted deficit of £452,424 (2023: surplus £467,892).  The closure and subsequent sale of St Paul’s Stevenage generated £451,500 of this deficit (2022-23: £471,549 of surplus). 

The Circuit Model Trust Fund finished the year with a surplus of £258,587 (2023: deficit £28,756).  The surplus of St Pauls proceeds less levy charge of £286,142 goes into CMTF.  In most years, the Fund returns a deficit, because the amounts taken by the Circuit and District are greater than the income generated by investments.  The Circuit may benefit indirectly from this as the District uses these funds to award grants. 

The Circuit makes a number of grants each year. These are for projects which are part funded by the Bedfordshire Essex and Hertfordshire District. The District part of the funding is paid directly to the church concerned and does not pass through the Circuit accounts. The Circuit usually matches the amount received from the District. In 2023-24 a total of £14,822 grants were awarded (2022-23 £24,145), with a further £25,240 committed over the next 2 years. 

The expenditure during the year on manses was written off and not capitalised (as it generally represented expenditure of a maintenance nature rather than significant capital enhancement).  During the year two manses were let commercially for the full year, the Trustees are keen to be responsible landlords. 

At 31 August 2024, the total value of manses held is £1,709,562 (2023: £1,709,562). 

Reserves not tied up in fixed assets show a surplus at the year end of £34,707 (2023: £37,131). This is primarily due to the cash balances transferred to the Circuit on the closure of St Pauls and also the continuing reduction of the balance owed to Trinity Church which is included in Other Creditors 

At no time during the year was the Circuit insolvent either in terms of its assets or in terms of its ability to pay its debts as they became due.  All funds are unrestricted. 

11 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## _**Reserves Policy**_ 

## **Background** 

The Circuit seeks to use its financial resources wisely and to predict future needs for capital expenditure on churches, manses and projects.  Many of our churches are local ecumenical projects (LEPs) where two or more denominations work together, often sharing the same premises and usually worshipping together. 

## **Grant Support** 

By way of annual or one-off grant, North Hertfordshire Methodist Circuit supports several churches within the Circuit by contributing to the cost of specific projects, especially for mission, sometimes for as long as five years.  The Circuit does not generally support the normal running costs of any church. 

Before committing to a grant, the Circuit believes that it is prudent to ensure that it has sufficient resources to pay for all instalments of the grant.  This is because the Circuit’s annual income and expenditure budget does not normally seek to make a surplus.  There is, therefore, no intended annual increase in the reserves. 

Priority given to projects which: 

- share the good news of God’s love in Christ. 

- help us to reach out to our communities in fresh and imaginative ways. 

- have relevance for children and young people. 

- develop and equip our buildings for worship and mission in the 21[st] century which is in line with our Circuit policy and strategy. 

## **Capital Assets** 

The proceeds of sale of the premises of any Methodist Church or manse within the Circuit is generally credited to the Circuit.  There is, however, a substantial levy paid to the Connexion (the Methodist Church in GB) so not all of the proceeds are received by the Circuit. This levy is then used by the Connexion to fund other innovative property and mission focussed schemes all over the country. 

## **Funding of the Circuit’s costs** 

This is achieved by making an assessment on each church within the Circuit.  If any church were to close, that church’s assessment would not be paid to the Circuit.  The Circuit’s costs – principally the stipends of the ministers – would continue and there may be a need to draw on reserves to meet the shortfall in income. 

## **Existing Commitments** 

As at 31 August 2024 the Circuit has committed £25,240 in grants out of its funds. 

## **Annual costs** 

At the Circuit meeting in March 2023, a change to the Circuit’s Reserves Policy was approved.  The new Reserves Policy is to hold reserves to cover: 

- Six months of all costs 

- Grant commitments 

At 31 August 2024, the total of these costs is estimated to be £146k and current reserves (including fixed assets) exceed that amount. 

12 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## **Taxation** 

It is the view of the trustees that none of the activities of the Circuit during the year should attract taxation.  Where VAT has been incurred, none has been, or will be, recovered and costs are shown gross of relevant VAT. 

## **Finance Officer** 

I confirm that these accrual based accounts 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. 

Signature of Finance Officer 

Name of Finance Officer 

Mr Alistair Jenkins 

Address 

14 Shiels Drive BRISTOL  BS32 8EA 

## **Approvals** 

The Trustees' Report and the Financial Statements have been ratified by the Circuit Leadership Team Meeting.  The financial statements have been approved on behalf of the Circuit by: 

13 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

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

|**Notes to**<br>**the**<br>**accounts**<br>**Income**<br>1 Donations and legacies<br>2 Income from monetary investments<br>4<br>3 Income from investment properties<br>5<br>4 Assessments on Churches<br>17<br>5 Grants received<br>6<br>6 Other charitable income<br>7 Deficit on disposal of St Pauls<br>7<br>8 **Total income**<br>9 **Expenditure**<br>10 Grants and donations<br>11 Salaries and associated costs<br>10<br>12 Property maintenance<br>13 Model trust levy<br>14 District Assessment & Levy<br>15 Depreciation<br>16 Office expenses<br>17 Other outgoings<br>18 **Total charitable expenditure**<br>19<br>20 **Net income/(expenditure)**<br>21 Transfers between funds<br>22 Other gains/(losses)<br>23 **Net movement in funds**<br>24 Total funds brought forward<br>25 **Total funds carried forward**<br>Gains/(losses) on monetary investments|<br> <br>**General**<br>**Fund**<br>**Circuit**<br>**Model Trust**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>£<br>£<br>£<br>£<br>-<br>-<br>-<br>**-**<br>1,146<br>9,024<br>**10,170**<br>6,972<br>36,467<br>-<br>**36,467**<br>43,424<br>199,214<br>-<br>**199,214**<br>181,552<br>0<br>-<br>**0**<br>10,768<br>18,201<br>-<br>**18,201**<br>1,515<br>-451,500<br>286,142<br>**-165,358**<br>471,549<br>**-196,472**<br>**295,166**<br>**98,694**<br>715,780|
|---|---|
||14,822<br>-<br>**14,822**<br>24,145<br>138,105<br>-<br>**138,105**<br>89,034<br>32,511<br>-<br>**32,511**<br>53,698<br>-<br>24,653<br>**24,653**<br>5,902<br>45,690<br>-<br>**45,690**<br>44,996<br>-<br>-<br>-<br>-<br>32,391<br>479<br>**32,870**<br>27,125<br>4,108<br>-<br>**4,108**<br>2,858.00<br>**267,627**<br>**25,132**<br>**292,759**<br>247,758|
||-<br>228<br>**228**<br>(130)<br>**(464,099)**<br>**270,262**<br>**(193,837)**<br>467,892<br>**11,674**<br>**(11,674)**<br>-<br>-<br>**-**<br>**-**<br>-<br>-<br>**-452,425**<br>**258,588**<br>**(193,837)**<br>467,892|
||2,196,693<br>162,138<br>2,358,831<br>1,890,939<br>**1,744,268**<br>**420,726**<br>**2,164,994**<br>**2,358,831**|



14 



**Charity No. 1133930** 

## **North Hertfordshire Methodist Circuit** 

## **Financial statements for year ended 31 August 2024** 

|**Balance sheet as at 31 August 2024**|**Balance sheet as at 31 August 2024**|||||
|---|---|---|---|---|---|
|||||||
||**Notes to**<br>**the**<br>**Accounts**|<br>**General Fund**<br>**(Unrestricted)**|**Circuit Model**<br>**Trusts**<br>**(Unrestricted)**|**Total**<br>**2024**|**Total**<br>**2023**|
|||£|£|£|£|
|**Fixed Assets**||||||
|Circuit Manses & Equipment|11|1,709,562||1,709,562|1,709,562|
|Church|11|0||0|450,000|
|Investments|12||420,725|420,725|162,138|
|**_Totalfixed assets_**||**1,709,562**|**420,725**|**2,130,287**|**2,321,700**|
|**Current Assets**||||||
|Debtors|13|4,689|1.00|4,690|1,613|
|Central Finance Board Deposits||17,466|-|17,466|36,267|
|Cash at Bank and in hand||37,901|-|37,901|40,951|
|**_Total current assets_**||**60,056**|1.00|**60,057**|**78,831**|
|**Current liabilities**||||||
|Creditors(due in under 1year)|14|240|-|240|15,462|
|Grantspayable||25,110|-|25,110|26,238|
|**_Total current liabilities_**||**25,350**|-|**25,350**|**41,700**|
|**_Net current assets/liabilities_**||**34,706**|-|**34,706**|**37,131**|
|**Long term liabilities**||||||
|Creditors(due in more than 1year)||-||-|0|
|**_Total assets less total liabilities_**||**1,744,268**|**420,726**|**2,164,994**|**2,358,831**|
|||||||
|**_Net Assets_**||**1,744,268**|**420,726**|**2,164,994**|**2,358,831**|
|||||||
|**Funds of the Circuit**||||||
|General Fund(Unrestricted)||1,722,719||1,722,719|2,175,144|
|General Fund St Pauls(Unrestricted)||21,549||21,549|21,549|
|Circuit Model Trust Fund(Unrestricted)|||420,726|420,726|162,138|
|Designated Funds(Unrestricted)||-|-|<br>-|-|
|**_Total Unrestricted Funds_**||1,744,268|420,726|**2,164,994**|**2,358,831**|
|Restricted Funds||-|-|<br>-|-|
|**_Total Funds_**||**1,744,268**|**420,726**|**2,164,994**|**2,358,831**|



15 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## **Notes to the accounts** 

## **1. Basis of accounting** 

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2015 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 102 - 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. 

## **2. Funds** 

The funds held constitute: 

- General Funds are unrestricted and are held for any purpose of the Circuit. 

- The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted. 

Restricted funds are funds which are held for a narrower purpose. The Circuit does not hold any restricted or endowment funds.  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. 

## _**Incoming resources**_ 

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**_ 

Expenditure 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**_ 

These are capitalised if they can be used for more than one year, and individually cost at least £1,000. They are valued at cost, or a reasonable value on receipt.  We do not regard the value as being less than the cost, have carried out an impairment review and decided no depreciation is necessary. 

16 



**Charity No. 1133930** 

## **North Hertfordshire Methodist Circuit** 

## **Financial statements for year ended 31 August 2024** 

## _**Investment property**_ 

In addition to the manses, the circuit owns one house which it holds as an investment property.  Since the value of all manses, including this investment property, is frozen at £1,349,962, the value attributed to the newly defined ‘investment property’ is _pro rata_ to the insured values of the total real estate. 

## _**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 are amounts owed to the Circuit. Prepayments include payments made by the Circuit for services yet to be received. This includes the payment in August of the September Stipends which are debited at the end of August. 

## _**Creditors**_ 

Creditors include both sundry expenses and also any amounts received by Circuit in advance of when income is actually due. 

|**4. Investment income**<br>Lloyds Interest<br>Circuit Model Trust Fund income<br>Lettings income<br>**6. Grants received**<br>Bedfordshire Essex and<br>Hertfordshire District<br>Coronavirus Job Retention Scheme Grant<br>Total<br>**Total**<br>**5. Other trading activities**|**Unrestricted**<br>**Circuit**<br>**Model**<br>**Trust Fund**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>1,146<br>-<br>1,146<br>1,172<br>-<br>9,024<br>9,024<br>5,800|
|---|---|
||**1,146**<br>**9,024**<br>**10,170**<br>**6,972**|
||**Unrestricted**<br>**Circuit**<br>**Model**<br>**Trust Fund**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**36,467**<br>-<br>**36,467**<br>**43,424**|
||**Unrestricted**<br>**Circuit**<br>**Model**<br>**Trust Fund**<br>**Total**<br>**2024**<br>**Total**<br>**2023**<br>**£**<br>**£**<br>**£**<br>**£**<br>**0**<br>**0**<br>**10,768**<br>-<br>-<br>-|
||**0**<br>**-**<br>**0**<br>**10,768**|



## **7. Deficit on disposal of St Pauls Church Stevenage** 

St Paul’s Stevenage was disposed of during the year and upon sale realised proceeds of £ 436,903 less District Levy of £150,761, fees of £1,500 and loss on disposal of £13,097. 

This is split between a deficit in unrestricted of £451,500 and a surplus in CMTF of £268,142. 

17 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## **Notes to the accounts (continued)** 

|**8. Payment to Trustees**<br>Number of trustees who were paid expenses<br>Total amount paid<br>No trustees undertook additional services on behalf of the Circuit.<br>Independent examiner’s or auditors' fees  for reporting on the accounts<br>**10. Paid employees**<br>Staff Costs paid during the year were:<br>Gross wages, salaries and benefits in kind<br>Employer’s National Insurance costs<br>Pension costs<br>Total staff costs<br>Average number of staff  employed during the year were:<br>Payments made to trustees for additional services provided<br>Other fees (eg: advice, accountancy services) paid to the independent<br>examiner or auditor<br>**9. Fees for examination or audit of the accounts**|**2024**<br>**2023**<br>**£**<br>**£**<br>NIL<br>NIL<br>4<br>4<br>6,474<br>5,385<br>**2024**<br>**2023**<br>**£**<br>**£**<br>750<br>624<br>NIL<br>NIL<br>**2024**<br>**2023**<br>**£**<br>**£**<br>103,499<br>67,698<br>10,117<br>6,157<br>24,489<br>15,179|
|---|---|
||138,105<br>89,034<br>4<br>4|



## **11. Tangible fixed assets** 

Tangible fixed assets comprise manses at deemed cost of £1,709,562  (2023: £1,709,562).  This does not include St Pauls Church Stevenage (disposed of during the year - Note 7). 

We do not regard the value as being less than cost and hence no depreciation is necessary. 

18 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

**Financial statements for year ended 31 August 2024** 

**Notes to the accounts (continued)** 

## **12. 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.  These are regarded as medium and long term investments. 

TMCP is the Custodian Trustee of all Methodist Model Trust property and is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property.  TMCP ensures that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and polity as determined by the Methodist Conference. 

|**Change in investment values**<br>Property proceeds net of Levy / costs<br>Transfers in/(out)<br>**Prepayments**<br>Other debtors<br>**Total debtors and prepayments**<br>**14. Analysis of current liabilities**<br>Accruals<br>Other creditors<br>Grants payable<br>**Total Current Liabilities**<br>**Debtors and prepayments**<br>Investments listed on a recognised Stock Exchange<br>Investments held in common investment funds<br>Carrying (market) value at beginning of year<br>**13. Analysis of current assets**<br>Net gain/(loss) on revaluation<br>Carrying (market) value at end of year<br>**Add:**additions to investments at cost<br>**Less:**disposals at carrying value|**2024**<br>**2023**<br>**£**<br>**£**<br>3,169         2,941<br>417,556     159,197|
|---|---|
||**420,725     162,138**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>162,138     190,894<br>9,024         5,800<br>286,142<br>(25,132)<br>(6,467)<br>227<br>(130)<br>(11,674)<br>(27,959)|
||420,725     162,138<br>**2024**<br>**2023**<br>**£**<br>**£**<br>1,569         1,613<br>3,120              -|
||**4,689         1,613**<br>**2024**<br>**2023**<br>**£**<br>**£**<br>240         9,946<br>-           5,516|
||240       15,462<br>25,110       26,238|
||**25,350       41,700**|



## **15. Capital Commitments and Contingent Liabilities** 

At the 31 August 2024, the Circuit has no capital commitments. No Contingent liabilities were identified at 31 August 2024. 

19 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## **16. Related Party Transactions** 

**2024** 

|**16. Related Party Transactions**<br>**2024**||||||
|---|---|---|---|---|---|
|**Name of related party**|**Relationship**|**Description**<br>**of**<br>**transaction**|**Income from**<br>**related party**<br>**during year**|**Payments**<br>**to related**<br>**party**<br>**during**<br>**theyear**|<br> <br>**Amounts**<br>**owed by /(to)**<br>**related party**<br>**as on 31-Aug-**<br>**2024**|
||||**£**|**£**|**£**|
|Bedford, Essex and Hertfordshire District|District|Assessment||(45,690)||
|All Saints Church, Pin Green Stevenage|Circuit Church|Assessment|5,148|<br>(330)||
|Arlesey Methodist Church, Beds|Circuit Church|Assessment|-|||
|Baldock Methodist Church, Herts|Circuit Church|Assessment|4,667||(254)|
|Benington Methodist Church,|Circuit Church|Assessment|2,269|<br>(1,500)|(1,500)|
|Central Methodist Church, Letchworth|Circuit Church|Assessment|60,429|<br>(3,120)||
|Christchurch, Hitchin Herts|Circuit Church|Assessment|68,589||(15,211)|
|High Street Methodist Church, Stevenage|Circuit Church|Assessment<br>/(grant)|25,170|<br>(7,400)|(7,400)|
|Norton Methodist Church, Letchworth|Circuit Church|Assessment<br>/(grant)|7,683|||
|Pirton Methodist Church, Herts|Circuit Church|Assessment|4,904|||
|St Hugh and St John Church, Stevenage|Circuit Church|Assessment|6,103|||
|St Faith's Church, Hitchin Herts|Circuit Church|Assessment<br>/(grant)|3,474||(745)|
|St Paul's Methodist Church, Stevenage|Circuit Church|Assessment|-|||
|Stotfold Methodist Church, Beds|Circuit Church|Assessment|5,676|||
|Trinity Church, Knebworth Herts|Circuit Church|Assessment|5,102|<br>(2,472)||
|**Total**|||**199,214**|**(60,512)**|**(25,110)**|



20 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Financial statements for year ended 31 August 2024** 

## **Notes to the accounts (continued)** 

## **17. Related Party Transactions** 

**2023** 

|**17. Related Party Transactions**<br>**2023**||||||
|---|---|---|---|---|---|
|**Name of related party**|**Relationship**|**Description**<br>**of**<br>**transaction**|**Income from**<br>**related party**<br>**during year**|**Payments**<br>**to related**<br>**party**<br>**during the**<br>**year**|**Amounts**<br>**owed by /(to)**<br>**related party**<br>**as on 31-Aug-**<br>**2023**|
||||**£**|**£**|**£**|
|Bedford, Essex and Hertfordshire District|District|Assessment||44,996||
|All Saints Church, Pin Green Stevenage|Circuit Church|Assessment|4,680|||
|Arlesey Methodist Church, Beds|Circuit Church|Assessment|-|||
|Baldock Methodist Church, Herts|Circuit Church|Assessment|7,932||(11,754)|
|Benington Methodist Church,|Circuit Church|Assessment|2,004|||
|Central Methodist Church, Letchworth|Circuit Church|Assessment|53,232|||
|Christchurch, Hitchin Herts|Circuit Church|Assessment|60,420||(15,211)|
|High Street Methodist Church, Stevenage|Circuit Church|Assessment<br>/(grant)|21,924|||
|Norton Methodist Church, Letchworth|Circuit Church|Assessment<br>/(grant)|6,768|||
|Pirton Methodist Church, Herts|Circuit Church|Assessment|4,320|||
|St Hugh and St John Church, Stevenage|Circuit Church|Assessment|5,376|||
|St Faith's Church, Hitchin Herts|Circuit Church|Assessment<br>/(grant)|5,398||(745)|
|St Paul's Methodist Church, Stevenage|Circuit Church|Assessment|-|||
|Stotfold Methodist Church, Beds|Circuit Church|Assessment|5,004|||
|Trinity Church, Knebworth Herts|Circuit Church|Assessment|4,494||1,472|
|**Total**|||**181,552**||**(26,238)**|



21 



**North Hertfordshire Methodist Circuit** 

**Charity No. 1133930** 

## **Independent Examiner’s Report to the Trustees of North Hertfordshire Methodist Circuit.** 

This Report is on the Circuit Accounts for the year ended 31[st] August 2024. 

## **Respective responsibilities of Trustees and Examiner** 

The Circuit's trustees are responsible for ensuring that the annual report and accounts for the year to 31 August 2024 present a true and fair view of the Circuit's income and expenditure for the year and of its assets and liabilities at the balance sheet date. The trustees consider that an audit is not necessary for this year under Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed. 

It is my responsibility to: 

examine the accounts under section 145 of the Charities Act; 

to follow the procedures laid down in the general Directions given by the Charity Commission under Section 145(5)(b) of the Charities act; and 

to state whether particular matters have come to my attention in connection with my examination. 

In connection with my examination, no matter has come to my attention 

(1)   which gives me reasonable cause to believe that, in any material respect, the requirements: 

   - to keep accounting records in accordance with Section 130 of the Charities Act. 

- to prepare accounts which accord with the accounting records and comply with the accounting 

- requirements of the Charities Act 

have not been met, or 

(2)    to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

(3)    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. 

Name of independent Sandeep Shah examiner Signature of independent examiner Sop 

Relevant Professional qualification of independent examiner 

FCCA ~~Po~~ ropriate)opriate)riate)ate) ~~PT~~ Leadermans St Christopher’s House Ridge Road Letchworth Garden City SG6 1PT 

Name of firm (where appropriate)opriate)riate)ate) 

Address 

Date 25/04/2025 ~~|~~ 

22