2024-08-31-accounts - Blackpool and South Fylde Methodist Circuit

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

REGISTERED CHARITY NUMBER 1134142

Report of the Trustees and

Financial Statement for the Year ended 31 August 2024

for

Blackpool and South Fylde Methodist Circuit

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

Introduction

Welcome to the Trustees' Annual Report of the Blackpool and South Fylde Methodist Circuit which covers the year from 1[st] September 2023 to 31st August 2024, a year in which a lot of change has taken place and progress has been made with many of our key objectives.

Aims of the organisation

The Blackpool and South Fylde Circuit of the Methodist Church, encouraged by the strategy of the Lancashire Methodist District, seeks the transformation of lives and communities within the geographical area of Blackpool and South Fylde. This will be enabled by offering good quality worship in a variety of styles, exploring fresh expressions of Church and remaining faithful to appropriate traditional expressions, engaging in community outreach projects, supporting the development of children, young people and families. Spirituality for older people and in the revitalisation of work. Within this broad vision, each Church in the Circuit is called to make disciples, to encourage people in their faith, to serve their communities and to focus upon their strengths and their distinct expression of community.

Review of the year

The Blackpool and South Fylde Methodist Circuit has embraced our District's Strategy "Transforming Lives and Communities" and continues to support our nine local Churches in moving forward. We have made good progress with our work with children, young people and families, with developing a community focus across the Circuit, with developing new forms of worship and teaching.

The new structure based on three ministry teams consisting of a presbyter/part-time Lay-worker and a part time Deacon has worked. We appointed two lay workers for a year, starting on 1[st] December 2023. We have continued to undertake training of Local Preachers.

Circuit staff and qualified volunteers continue to provide training for all Church members working with children and vulnerable adults. We ensure that all staff, lay officers and volunteers who are required to undertake safeguarding training have received the training.

The accounts of the Blackpool and South Fylde Methodist Circuit for the year ended 31st August 2024 show a deficit of £8,236 on the General Fund and Restricted Fund combined, with £28,240 deficit in the Circuit Model Trust Fund.

Circuit Income

Total income on the General Fund and Restricted Fund for the year to 31st August 2024 was £283,701. Circuit income is primarily drawn from the Assessment paid by the Circuit churches (£215,019) in 2023/24 and property rental (£31,789). This includes grants of £750.

Circuit Expenditure

Total expenditure on the General Fund and Restricted Fund for the year to 31st August 2024 was £315,937. The major expenditure was stipends, salaries and associated costs (47% of total expenditure) which increase each financial year in line with Conference approved rates. This includes spending on Wesleys of £2,274. Two additional lay workers were employed which is reflected in the increased costs of salaries.

The other significant expenditure in 2023/24 was the District Assessment on which we spent £60,881, 19% of our expenditure. This is the Circuit's contribution to the District and Connexion, of which a significant part is used to fund the work of the wider Methodist Church.

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

Fund balances

As at 31 August 2024 the net current assets of the Circuit were £85,743 on the General Fund and £419,458 on the Circuit Model Trust Fund. Giving a total net current assets for the Circuit of £505,201.

Plans for 2024/25

Stationing in 2022/2023 was successful and the circuit was appointed a probationer presbyter Rev Michaela Barker from 1[st] September 2024. The Circuit continued to function with two ministry teams, each comprising of a Presbyter and part-time Lay-worker/Deacon, the latter both employed by the Lancashire Methodist District but charged to the Circuit.

The Financial plan for 2024/25 produces a budget deficit of £22345, taking the gross balance on the General Fund at 31st August and then the following year by £22000

Lancashire district and 4 other districts are merging to become the North West England District with effect from 1[st] September 2024 and our new District number will be 1/2.

BLACKPOOL AND SOUTH FYLDE METHODIST CIRCUIT

AIMS AND ORGANISATION

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

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

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

Main activities undertaken for the Public Benefit

The Blackpool and South Fylde Circuit supports the nine churches of the Circuit in carrying out their activities in their communities, in particular:

the provision of regular public acts of worship open to members of the church and non-members alike;
the teaching of Christianity through sermons, courses and small groups;
the provision of sacred space (a building) for prayer and contemplation;
the resourcing of pastoral work including visiting the sick and bereaved;
the promotion of Christianity through the staging of events and services;
the provision of chaplaincy services to schools, care homes and other institutions;
the provision of social activities with a focus on particular age groups which are open to everyone;
the provision of space and facilities for a range of community activities.

Public Benefit

We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit.

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

Structure, Governance and Management

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 Superintendent along with the Circuit Stewards and the Circuit Leadership Team.

Trustee Training

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

Related Parties

The Circuit is part of the Lancashire District and is also accountable to the Methodist Conference. The following Methodist Churches are part of the Circuit:-

The Drive Methodist Church Church Road Methodist Church Layton Methodist Church

Fairhaven Methodist Church Lytham Methodist Church New Central Methodist Church

Kirkham Methodist Church Freckleton Methodist Church

South Shore Methodist Community Church

Key Objectives for 2024/25

(i) To act as a provider of resources for the Methodist Churches in Blackpool and South Fylde, in particular financial, human and training resources and resources to encourage spiritual development.

(ii) To exercise ministerial oversight and pastoral care of the local Churches in the Circuit and to support the ministry team.

(iii) To further advance the support of practical work with children, young people and families across the Circuit.

(iv) To encourage faith development amongst the people of the Circuit.

(v) To continue to encourage and support those who are called to be lay preachers and to manage their training programmes;

(vi) To seek to ensure full compliance across the Circuit with Methodist Safeguarding Policy and Procedures, including training for staff and volunteers.

(vii) To seek to ensure successful implementation of the new Circuit structure with two ministry teams, each comprising one presbyter and one lay-worker.

BLACKPOOL AND SOUTH FYLDE METHODIST CIRCUIT

Risk Management

The major risks are associated with our Churches and they have been identified and recorded by the Church Officers with professional advice taken as required. The key risk area for the Circuit is around the six manses and we review risks in conjunction with the occupying ministers.

Each Church undertakes a regular annual review process and records the outcome.

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

Income and Expenditure is monitored against the approved annual budget on a quarterly basis to identify trends and problem areas as part of the risk management process to avoid unforeseen calls on reserves. Significant abnormal expenditure is authorised by the Circuit Meeting.

Safeguarding

Every person has a value and dignity which comes directly from the creation of people 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:

the care and nurture of, and respectful pastoral ministry with, all children, young people and adults
the safeguarding and protection of all children, young people and adults when they are vulnerable
•the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse.
We carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes.
We respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation.
We seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care.
We seek to challenge any abuse of power, especially by anyone in a position of trust.
We seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult.
In all these principles we follow legislation, guidance and recognised good practice

The Blackpool and South Fylde Methodist Circuit commits itself:

to ensuring the implementation of Connexional Safeguarding Policy, government legislation, guidance and safe practice in the Circuit and in the churches.
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.
to carrying out risk assessments for circuit events involving children, young people or vulnerable adults as stated in our Policy Document agreed on September 2024, namely:
Circuit events are to be notified to the District Safeguarding Officer prior to these being agreed to ensure that all permissions, risk assessments and good practice guidelines are in place.
All those involved in leading and running the event must be aware of the procedure.
The event should have been planned effectively and attention given to the following issues:
Risk assessment and suitability of the activity and the premises
The appointment of a team to take charge of the event, including safeguarding and first aid personnel (particular health or ability needs should be taken into account)
Numbers of children, young people or vulnerable adults involved
Transportation - following good practice guidelines.

This information is to be sent to the District Safeguarding Officer for approval PRIOR to the event being agreed.

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

Reserves Policy

The Circuit Reserves Policy is to hold a minimum sum equivalent to three months’ average expenditure. This is currently £82 000 and should be sufficient to meet any unforeseen item of major expenditure on manses and / or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.

At 31st August 2024, the General Fund held £85,743, gross, so we held the target reserve.

At 31st August 2024, the Circuit held a balance of £419,458 on the Circuit Model Trust Fund. This Fund derives from sales of chapels and manses.

Our reserves policy for the management of this Fund is as follows:-

6 months expenditure is about £160000

We have £550348 in total

We have excess reserves of and the ways we have identified as reducing these are:

£160000 ringfenced for SSMCC from the sale of Marton Church

£45000 ringfenced for a Circuit Administrator

£20000 kept aside should the District contribution to staffing not materialise

We will identify ways we can use our reserves to help the other churches in our circuit

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

BLACKPOOL AND SOUTH FYLDE METHODIST CIRCUIT

Trustee’s Annual Report on Finance and Governance Basis of preparation and legal framework

The Charity’s annual report and accounts for the year ended 31 August 2023-24 have been prepared in accordance with the Charities Act 2011 and the Charities: Statement of Recommended Practice 2015 as applicable to the Financial Reporting Standard(FRS) 102.

Registration Charity Number: 1134142

Date of registration 5th February 2010

Main communication address: 8, Royal Troon Court, Kirkham, Preston PR4 2TF

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

Full membership is shown as Appendix A to this report.

Circuit ministers and officers:

Active circuit ministers Rev Stuart Wild Rev Andrew Halstead (appointed 1[st] September 2022) Deacon Kim Gabbatiss (0.5) Circuit Lay workers Mandy Laird-Hall (deceased January 2023) Elizabeth Grierson (appointed 01/12/2023) Bernice Smith (appointed 01/12/2023) Circuit Stewards Michael Steele Edwards Katharine Davies Melvyn Slater David Leach Sandra Waddington Mark John Walmsley

Circuit Safeguarding Officer Margaret Porter and Sandra Waddington (Admin support)

Katharine Davies acted as the principal officer overseeing the day-to-day financial management and accounting for the Circuit during the year.

Accountant and Independent Examiner

Arc Accountancy Solutions Limited 51 Laverton Road Lytham St. Annes FY8 1EN

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

I confirm that I have prepared the accounts from the records of the Circuit and that they include all funds under the control of the Circuit Meeting

----- Start of picture text -----
Signature of Date
Treasurer
Name Katharine Davies
Address
8, Royal Troon Court, Kirkham, Preston. PR4 2TF
----- End of picture text -----

Presentation to the Circuit Meeting for approval.

I confirm that the Accounts have been presented to the Circuit Meeting on

and were approved.

----- Start of picture text -----
Signature of the
Stuart Wild
Chair of the meeting
Name of the Chair of
Rev Stuart Wild
the meeting
Date
----- End of picture text -----

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

Appendix A

Circuit Meeting Membership as at 31[st] August 2024

MINISTERS

Circuit Ministers

HMP Chaplain, Kirkham

Rev Stuart Wild Superintendent Rev Andrew Halstead Deacon Kim Gabbatiss Rev Tony Davies

SUPERNUMERARY MINISTERS

Rev Alan Clark(dec’d July 2024) Rev Malcolm Maymand)retired 31[st] August 2024) Rev Joan Edwell Rev Barrie Lees Rev Stephen Heath Rev Janet Pybon Rev David Tidswell

CIRCUIT STEWARDS

Michael Steele-Edwards Katharine Davies Melvyn Slater David Leach Sandra Waddington Mark John Walmsley CIRCUIT MEETING SECRETARY Sue Leach CIRCUIT CHURCH REPRESENTATIVES The Drive Methodist Church Patricia Brown Ray Brown Eileen Beedle Janette Farley Church Road Methodist Church Monica Bissett Fairhaven Methodist Church Patricia Hirst

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

Roger Peace Clare Harris

Lytham Methodist Church Freckleton Methodist Church Kirkham Methodist Church Layton Methodist Church New Central Methodist Church

William Douglas Martin Mike Bell

Ann Hearne Margaret Porter

David Banks Laura Gill Gillian Womersley Lucinda Baldwin Ian Womersley

Jo Walmsley

Kathryn Pritchard Ruth Sellers (retired 23[rd] August 2024)

Trevor Mustoe Ken Davitt(retired 31[st] August 2024) Michael Ardron Jackie Eltoft Julie Eltoft (appointed July 2024) Res: Pat Mustoe

South Shore Methodist Community Church

Jennifer Allcock Dorothy Chatterton

Dawn Cheetham Pauline Scott Joy Gillott (retired 31[st] August 2024)

Blackpool and South Fylde Methodist Circuit Trustees’ Annual Report for the Year Ended 31 August 2024

OTHER REPRESENTATIVES

MHA

Overseas Missions Treasurer Local Preachers

MwiB

Jennifer Breare

Richmond Neale

Andrew Barratt Jennifer Jones (retired 31[st] August 2024)

Blackpool and South Fylde Methodist Circuit Statement of Financial Actvites for the Year Ended 31 August 2024

Income 1 Donations and legacies 2 Income from monetary investments 3 Income from investment properties 4 Assessments on Churches 5 Capital Receipts & Levy refund 6 Grants received 7 Other charitable income 8Total income Expenditure Expenditure on charitable activities: 9 Grants and donations 10 Stipends, salaries, NIC, pension costs 11 Property maintenance 12 District Assessment & Levy 13 Purchase of property 14 Depreciation 15 Office, administration and travel expenses 16 Other outgoings 17Total charitable expenditure 18 Net income before investment losses/gains 19 Losses/gains on monetary investments 20 (Losses)/Gains on investment properties 21 Net income/(expenditure) before transfers 22 Transfers between funds 23 Reclassification of funds 24 Other gains/(losses) 25 Net movement in funds 26 Funds brought forward 27 Property funds brought forward 28 Total Funds brought forward 29 Total funds carried forward	Note General Fund (Unrestricted) Circuit Model Trust (Unrestricted) Designated Funds (unrestricted) Restricted Funds Total 2023-24 Total 2022-23 £ £ £ £ £ £ 0 0 4,319 21,863 26,182 12,890 31,789 31,789 23,947 215,019 215,019 229,914 2 - 339,042 3 500 750 1,250 15,955 4 31,324 31,324 30,720 282,951 21,863 0 750 305,564 652,468
	17,000 17,000 50,506 5 147,893 147,893 179,144 51,514 51,514 50,595 60,881 24,827 85,708 40,178 0 0 0 0 28,220 1,276 2,274 31,770 20,948 8,155 8,155 2,829 313,663 26,103 0 2,274 342,040 344,200
	(30,712) (4,240) 0 (1,524) (36,476) 308,268
	0 0 8 0 695,000 (30,712) (4,240) 0 (1,524) (36,476) 1,003,268
	25,477 (24,000) (1,477) 0 0 0 0 0 0 (5,235) (28,240) 0 (3,001) (36,476) 1,003,268
	90,978 447,698 0 3,001 541,677 233,409 2,590,000 0 0 2,590,000 1,895,000 2,680,978 447,698 0 3,001 3,131,677 2,128,409
	2,675,743 419,458 0 0 3,095,201 3,131,677

Blackpool and South Fylde Methodist Circuit

Balance Sheet

for the Year Ended 31 August 2023

	Not e	General Fund (Unrestricted) £	Circuit Model Trusts (Unrestricted) £	Designated Funds (Unrestricted) £	Restricted Funds £	Totals 2024 £		Totals 2023 £

Fixed Assets					1,258,000 1,332,000 2,590,000 13,764 419,458 68,563 62,318 564,103 58,902 58,902 505,201 3,095,201 0 0 3,095,201 2,675,743 419,458 3,095,201 0 3,095,201
Circuit Manses & Equipment	9	1,258,000			1,258,000	1,258,000
Investment Properties (church buildings)
Investment Properties (manses rented out)	9	1,332,000			1,332,000	1,332,000
*Total fixed assets*		2,590,000			2,590,000	2,590,000
Current Assets
Debtors	10	13,764			13,764	25,767
Loans by the Circuit
Investments with TMCP			419,458		419,458	447,698
Central Finance Board Deposits		68,563			68,563	91,255
Cash at Bank and in hand		62,318			62,318	21,170
*Total current assets*		144,645	419,458		564,103	585,890
Current liabilities
Creditors (due in under 1 year)	11	58,902			58,902	44,213
Grants payable
*Total current liabilities*		58,902			58,902	44,213
*Net current assets/liabilities*		85,743	419,458		505,201	541,677

*Total assets less current* *liabilities*		2,675,743	419,458		3,095,201	3,131,677

Long term liabilites (due afer more than oneyear)
Grants payable					0	0
Loans to the Circuit					0	0

*Net assets*		2,675,743	419,458		3,095,201	3,131,677
Funds of the Circuit
General Fund (Unrestricted)		2,675,743			2,675,743	2,680,978
Circuit Model Trust Fund (Unrestricted)			419,458		419,458	447,698
Designated Funds (Unrestricted)
*Total Unrestricted Funds*					3,095,201	3,128,676
Restricted Funds					0	3,001
Endowment Funds
*Total Funds*	12	2,675,743	419,458	0	3,095,201	3,131,677

Blackpool and South Fylde Methodist Circuit Cash Flow Statement for the Year Ended 31 August 2023

	2024	2023
Statement of cash flows	£	£
Cash from operating activities
Net cash used in operating activities	(35,966)	(45,338)
Cash flows from investing activities
Dividends and interest from investments	26,182	12,890
Proceeds from the sale of tangible fixed assets	-	339,042
Net cash provided by investing activities	26,182	351,932
Change in cash and cash equivalents in the year	(9,784)	306,594
Cash and cash equivalents at the beginning of the year	560,123	253,529
Cash and cash equivalents at the end of the year	550,339	560,123

	2024	2023
Reconciliation of net movement in funds to net cash flow from operating activities	£	£
Net (loss)/income for the period (as per Statement of Financial Activities)	(36,476)	309,968
Adjustments for:
Dividends and interests from investments	(26,182)	(12,890)
Capital receipts	-	(339,042)
Decrease/(increase) in debtors	12,003	1,626
(Decrease)/increase in creditors	14,689	(5,000)
Total cash generated from operating activities	(35,966)	(45,338)
	2024	2023
Analysis of cash and cash equivalent	£	£
Cash at bank	62,318	21,170
Central Finance Board Deposits	68,563	91,255
Trustees for Methodist Church Purposes deposits	419,458	447,698
Cash and cash equivalents at the end of the reporting period	550,339	560,123

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

1 Basis of accounting policies

i Accounting standard

The financial statements have been prepared 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 applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2015) - (Charities SORP (FRS 102)).

ii Public benefit entity

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

iii Basis

These accounts have been prepared on the basis of historical cost except that investments and fixed asset properties 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.

iv 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

v FRS102 SORP2015

The accounts have been prepared in accordance with applicable charity law in England this being the Charities Act 2011, The Charities (Accounts and Reports) Regulations 2008 SI 2008/629 and Accounting and Reporting by charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS 102.

vi Going concern

Based on the monetary assets and human resources available at 31 August 2024, the trustees believe that the Circuit is a going concern.

vii Consolidation

The Circuit has denominational regulatory oversight in respect of the work of the Churches within the Circuit but has no legal or operational control of those Churches and their governing bodies except in extreme circumstances. For this reason, the financial statements of Churches within the Circuit are not consolidated into these financial statements.

viii Income recognition

Income is brought into account when there is entitlement and the amount is reliably measurable once it is more likely than not that the economic benefit of the income will be forthcoming.

Individual amounts categorised as Other income in the SOFA will be shown separately if they are considered material.

The Circuit acts as agent in two matters:

the collection from Churches and payment over of their contributions to various funds controlled and administered by The Methodist Church - "Connexional Funds"
the administration (application, collection and disbursement) of grants requested by Churches within the Circuit from, but not limited to, the District and Connexion. In all these matters the transactions are not reflected in the SOFA because they are the income of either the Connexion or Churches as appropriate. Instead, the transactions are disclosed in the Notes to the Accounts as required by SORP (FRS102), module 19.12n.

In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised. If goods are donated, a value will be shown in the SOFA or Notes where the value is considered material.

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

ix Expenditure

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

x 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.

xi VAT

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

xii Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The trustees have made judgements and estimates in respect of: the fair value of tangible assets, and investment properties shown at fair value. The trustees have determined that any differences arising between actual amounts realised upon sale and fair value estimates will have no impact on the Circuit’s ability to continue as a going concern.

xiii Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £500.

The freehold and/or long leasehold residential property is shown in the accounts at fair value determined by the trustees based on market value research. The land component is not recognised in these figures. No depreciation is provided on the residential properties 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 residential properties have been reviewed for impairment.

xiv (a) Investment Properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year.

From time to time the Circuit may hold residential property (formerly manses) which is surplus to its normal staffing requirements. When the intention is to hold the property for capital appreciation or its rental income, the property is classified as investment property and carried at fair value.

Churches which are closed are transferred into the care of the Circuit from the Methodist Church and are valued at a deemed cost based on the

xiv (b) Investments

The Circuit's investments are in monetary assets classified as basic financial instruments under FRS102 and are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. The valuations, at market value, are those provided by TMCP. The unrealised gains arising on investments are shown in the SOFA.

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

xv Debtors and Prepayments

Debtors are stated at the amounts owed to the Circuit or prepaid.

xvi Creditors and Accruals

Creditors are initially recognised at settlement amount after any trade discounts, or the amount advanced to the Circuit. Creditors include both sundry expenses and specifically the 1st quarter assessment received in August.

xvii 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 minsters.

2. Capital Receipts

Two properties were sold during the previous 2022-23 accounting year. Capital receipts related to the sale of the closed Lindale Methodist church (net £168,839), and closed Marton Methodist Church (net £170,203). All sales of Methodist property are subject to a levy by the Connexion calculated on a sliding scale based on the gross sale price. The figure is shown net of this CPF Levy.

	Total	Total
	2023-24	2022-23
	£	£
Gross sale (Lindale Church)	-	241,371
CPF Levy on Lindale Church sale	-	(72,532)
Gross sale (Marton Church)	-	243,672
CPF Levy on Marton Church sale	-	(73,469)
Total	-	339,042

3. Grants received

3. Grants received
	Unrestricted funds £	Restricted funds £	2023/24 £	2022/23 £
Districtgrants received	500	750	1,250	-
Othergrants received for Wesley’s cafe	-	-	-	15,955
Total	500	750	1,250	15,955

4. Other charitable income

	Unrestricted funds 2023/24 £	2022/23 £
District recharges re. Layworkers	21,412	24,718
Miscellaneous income	9,912	6,794
Total	31,324	47,467

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

5. Staff Costs

Staff Costs paid during the year were:
	Ministers
	(trustees)	Lay staff	2023/24	2022/23
	£	£	£	£
Stipends, salaries and benefits in kind	91,167	23,270	114,437	137,940
Social security costs	8,738	732	9,470	11,581
Pension costs	23,435		23,435	28,975
Apprenticeship levy	456	95	551	648
Total staff costs
	123,796	24,097	147,893	179,144

Expenses (Travel, accommodation and other expenses incurred in the
normal course of employment)	7,123	1,713	8,836	13,191

Average number of full-time equivalent employees in the year were:	3	3	6	6

No employee received remuneration amounting to more than £60,000 in either year.

Wages and salary costs includes £nil in respect of redundancy payments in 2024 (2023: £nil).

6. Trustees’ remuneration and expenses

6. Trustees’ remuneraton and expenses
	2023/24 £	2022/23 £
Payments made to trustees for additonal services provided to the Circuit byagreement with the Circuit Meetng	1,000	0
Number of trustees who werepaid expenses relatngto trustee dutes	1	0
Total amountpaid	1,000	0
In the year ending 31stAugust 2024 there was £1,000 paid out to the treasurer to cover administratve costs relatng to treasury services provided to Wesley’s café. Other than this and those expenses paid to ministers and lay staf in the normal course of their dutes and disclosed above there were no other trustees' remuneraton or other benefts for the year ended 31 August 2024 oryear ended 31 August 2023.

7. Fees for examination or audit of the accounts

	2023/24 £	2022/23 £
Independent examiner’s or auditors' fees for reportng on the accounts	1,400	1,700
Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor	-	-
Total	1,400	1,700

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

8. Property Disposals/Revaluations

The net gains or losses are detailed below. During the year and in accordance with note 1.xiii (Tangible fixed assets) the residential properties and closed churches have been revalued to fair value determined by the trustees.

Details	2021/22 Carrying Value	2022/23 Carrying Value/Revaluaton	2022/23 Gain/(loss)	2023/24 Carrying Value	2023/24 Gain/(loss)
	£	£	£	£	£
Mereside church	100,000	100,000	-	100,000	-
Kirkham – unrealised	300,000	489,000	189,000	489,000	-
Bromley– unrealised	270,000	367,000	97,000	367,000	-
Knowles – unrealised	230,000	315,000	85,000	315,000	-
The Serentne – unrealised	335,000	507,000	172,000	507,000	-
Holgate – unrealised	330,000	358,000	28,000	358,000	-
Heron’s Way- unrealised	330,000	454,000	124,000	454,000	-
Total	1,895,000	2,590,000	695,000	2,590,000	-

9. Fixed Assets (and Investment Properties)

Manses occupied by ministers £	Manses (held as investment properties) £	Closed Churches (held as investment properties) £	Total £

1,258,000	1,232,000	100,000	2,590,000

-	-	-	-


1,258,000	1,232,000	100,000	2,590,000

0	0	0	0
			0
			0
			0
			0
0	0	0	0

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

Brought forward Carried forward		1,258,000	1,232,000	100,000	2,590,000
		1,258,000	1,232,000	100,000	2,590,000

The fair value of the manses includes the land on which they are built, and their internal contents.

10. Analysis of debtors

Due within one year	2023/24 £	2022/23 £
Trade debtors	-	14,989
Prepayments	13,764	10,778
Total	13,764	25,767

11. Analysis of creditors

Amounts failing due within one year	2023/24 £	2022/23 £
Other creditors	1,400	1,700
Prepaid Assessments	57,502	42,513
Total	58,902	44,213

12. Detailed analysis of individual fund movements

Movement in the current year

Unrestricted Funds

Opening Balance	Incoming Resources	Resources Expended	Transfers & Reclassification	Gain/(losses)	Closing Balance	Purpose of the fund

2,680,978	282,951	(313,663)	25,477	-	2,675,743	The general purposes of the Circuit
447,698	21,863	(26,103)	(24,000)	-	419,458	Support for the mission of the Circuit
3,128,676	(30,712)	(4,240)	1,477	-	3,095,201

Restricted Funds

nds
Opening Balance	Incoming Resources	Resources Expended	Transfers	Closing Balance	Purpose of the fund
3,001	750	(2,274)	(1,477)	0	Grant given for the Wesley’s café outreach. Transfer made to unrestricted funds in the year to cover administration of the grant.
3,001	750	(2,274)	(1,477)	0

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

12. Detailed analysis of individual fund movements (continued)

Movement in the previous year

Unrestricted Funds

Unrestricted	Funds
Unrestricted Fund Name	Opening Balance	Incoming Resources	Resources Expended	Transfers & Reclassification	Gain/(losses)	Closing Balance	Purpose of the fund

General	1,990,562	287,696	(293,280)	1,000	695,000	2,680,978	The general purposes of the Circuit
Model Trust Fund	137,847	348,817	(38,966)	-	-	447,698	Support for the mission of the Circuit
Totals	2,128,409	636,513	(332,246)	1,000	695,000	3,128,676

Restricted Funds

Restricted Fund Name	Opening Balance	Incoming Resources	Resources Expended	Transfers	Closing Balance	Purpose of the fund
Wesley Grant	0	15,955	(11,954)	(1,000)	3,001	Grant given for the Wesley’s café outreach. Transfer made to unrestricted funds in the year to cover administration of the grant.
Totals	0	15,955	(11,954)	(1,000)	3,001

13. Analysis of net assets between funds

Fund balances at 31 August 2024 are represented by:

	General Fund (Unrestricted)	Circuit Model Trust (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Total 2023/24
	£	£	£	£	£
Tangible fixed assets	2,590,000				2,590,000
Current assets	144,645	419,458			564,103
Current liabilities	(58,902)				(58,902)
Total	2,675,743	419,458			3,095,201

14. Related party transactions

Blackpool and South Fylde Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

During the year the Circuit received assessment income totalling £215,019 (2023: £229,914) from the various churches within the Circuit.

The Circuit also incurred assessment costs of £85,708 (2023: £40,178) payable to the District.

The Circuit received salary reimbursements from the District totalling £21,412 (2023: £24,718).

The Circuit paid salary charges to the District totalling £24,097 (2023: £24,333).

Report of the Independent Examiners To the Trustees of Blackpool and South Fylde Methodist Circuit

I report to the charity trustees on my examination of the accounts of Blackpool and South Fylde Methodist Circuit for the year ended 31[st] August 2024 which are set out on pages 7 – 19.

Responsibilities and basis of report

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

Independent examiner's statement

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

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

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

Leanne Nield ACA Arc Accountancy Solutions Limited 51 Laverton Road Lytham St. Annes Lancashire FY8 1EN

Date: ...........................................