Charity registration number.. 1134151 Sheffield Methodist Circuit Trustee'$ Rep)rt and Filw Statements fty the Yw End 31 August 2024
Shefllold Mothodist Circuit Contents Trustees. Report 1to8 Statement of Trustees. Ro$pJnsibi&ti•s Indepèndènt Auditors, Report 101012 Statement of Financial Athbes 13 Balance Sheet 14 Cash Flow Statement 15 Notes lo the Finanual Ststements 161024
Sheffield Meth¢)dist Circuit Trustees. Report for the year ended 31 August 2024 R•f•r•ne• and Admlnlstratlv• D•tail$ Name of the charlty: Sheffield Methodist Circuit- also kno¥m as The Methodist Churth in Sheffièld Charity Reglstration Number. 1134151. registered in EnglarKI aThJ Wates Prln¢lyl Offl¢•'. Fumival 199 Verdon Street Sheffield S3 9QQ SupL Mini$tsr of th* Cirtult.. Revd Romeo PÈdro Clrcult Treasurgr.. Mr Ajthur Lyon$- resigned 26 November 2024 Mr Matt Irons- appomrted 26 November 2024 Namos of Trusteos.. The Trustees are members of the Circuit Meeling. At 31 August 2024 there %bEre 118 Trustees Isee Appenthx 11 No trustee daims exemption from disdo$u of his or her name on Appendix 1. CAF Bank Limited 25 Kings Hth Avenue ngs Hil Wesl Malling Kent ME19 4JQ Bank•v¥.' Central Finan¢e Boar(l of the Methodist Church 9 Bonhill Street London EC2A 4PE Investment managers.. Tw$tees for Mdhothst Clvxch PpoSeS Central Buildiry Oldham Street Manchester Ml 1JQ Audltorn: Haw30n5 Chartered Acc(yJntsnts Pegasus Housè 463a Gloy3op Road Sheffidd S102QD Page 1
Sheffield Methodist Circuit Trusteès. Report for the year ended 31 August 2024 (continued) 1 Introduction The Trustees of th¢ Chaibty present their Annual Repty1 atxl Ihe audited finan statements for the year ended 31 August 2024. The Circuit is an unincorporated association and is governed by the Methodist Church Act 1976. th? Deed of Union and the Model Trust Deeds of the Methodist Church arKI was registered the Charty Commissioners on 5 February 2010. The financial statements have been prepared in accordance wth the accounting policies set out in nolo 1 to the fin8naal statements arKI comply 7Mih the stdirj orders of the Methodist Church. The Circuit appoints ministers to bè Superintendent Minister of the CKcurt, whose duties are Set OLrt in the Standing Orders of the Methodist Church. Follwng a review of Superintendency in Novemter 2021. Revd Romeo Pedro was appointed to be Superintendent Minister from 1 September 2022. The Churches Iomtng the Circuit are themselves chatits8s and. as they are responsiblè for their own financÈ?l affairs. th•y are not reported in the$e statements. 1.1 Purpt)se of the Circuit The C1Ul* 1$ an expression, over a gwraphical area than any Clwrth. of the Connexional thar¥¢tèr of the Church. The purposès of the Methodist Church are ar shall be deemed to have been sin¢e the date of union advancement of., al the Chcistian faith in aCran wth the docthnal standards and the disapline of the Methodist Church,. bl any charitsble purpose for the time being of any Connexional. district. arcuit, l(Kal or other organisation of the Methodist Churd)", cl any charitable purpose for the time being of any so(4ety or in5titutron subsidiary or arKillary to the Methodist Church., d} any purpose forthe time being of any charty being 8 ¢harity subsidiary or ancillary lo the Methodist Church. Thè primary purFX7Sè of this Cwcutt is to adVar the mi$sion of Ihe Methodist Churd) in Sheffield, the south of Barn5Y and North East Derbyshire", 1. By providing opportunibgs for Churches to together arKI $upport each other.. and 2. By offering lo Churches resources of financè. personnel and expertise. Th¢ Circuit serves the Local Churehès and the District and ConfererKe in the siwrL deploymont and oversight of the variou$ ministries of the Churth. arKI in programmes of training. Pagè 2
Sheffield Methodist Circuit Trustees, Report for the year ended 31 August 2024 (continued) 2 Obj•etlv•s and aetlvltl•s The charitable objectives are the advancement of the Clwtstian failh in accordancè the dti¢trin¥l 8tandards and discipline of the Methodi51 Church. The Circuit Meeting retain5 resKK)n$ilybty fty setting the mission wiN1t of the Circuit. the overall strategy to dèllver Iho$È priortbes, the invitation of ministers, the oversight of local churd)es, thè oversight of the Circuit's finances. the admission of people lo the office of Local Preather, and derysiws on formal exploralions of calls to ministy and candidates for the ordained ministry. The Cwcutrt MeetiThJ is assisted in the task of financial oversight by the Circuit Finance and Grants Group. The Circuit Leadership Team ICLTI and the Ciniit Mission Wi0n Team {MVT). appointed by the Circuit Meeting, are responsible for acting on behalf of the Circurt Meeting at other times. The CLT meets monthly and the MVT meets at least 4 limes a year lo ¢onsidÈr grant applscalions and ¢hvr¢h projects for both property and employment. includin9 meeting wrth applicants, and considering whether the application fuffils tht Cir¢urt'$ Mission Criteria. The Circuit Finance and Grants Group {FGG) meets four times a year lo an the budget, keep Ut3te with the financial position, and consider the recommendalions for grant funth.ng the MVT to be able to make recommendations to the Circuit Meeting about the amounl of funding to be grantèd. Thè Circuiys missron is to be a pcwerfvA spiwilual inffluen in ihe CircJJit and a VIS18 expression of God'$ Indu$fve love. We aim lo achieve this by encouraging. thrthjgh the churches in the Circuit, the worship, soc¢al, and outreach activities that ¢urrently ex4St. and by s•eking ways to •x¢•nd to others the fellvwship of the thurch famity. The charitable objectives a the advan¢ement of the Christian faith in accord with the doctrinal standards and discipline of the Methodist Church. The Cir¢uit s••ks to live Jt the calling of the Methodist ChLKch, thich is summarised thu$.. "The calling of the Melhodi5t Church 1$ lo resporKI lo the Gospd of G¢)d'$ love in Christ and lo live out its discipleship and 1. To increase ¥wargn•$s of Gods preserth to e•ld)rat• GtyY's lov¢: 2. To help people to grow and leam as Christians through mulual support and care" 3. To be a good neighbour lo Ople in neèd and to ¢hanenge injusb"¢e- and 4. To mak8 more folbwers of Jesus Christ.. The Cir¢uit encourages and supports the Churthes rythin it in the prowsion of re9ular publi¢ a¢t$ of worship open to members of the Methodist Church and noTrmembers alike.. the provision of sacred space for prayer and ¢onlemplation', the teaching of Chri51ianity through serm$. Gourses and small groups.. pastoral work. including visiting the sick and bereaved.. the promotion of Christianty through the staging of events and services.. the promsion of youth clubs, seniors dubs. varioLts support groups wth a Christian ethos.. promoting the %thole mission of the Church land aiding social cohesion) through actiwlies for all sectors in the ¢ommunty and other specific rdS groups: and supporting other charilies in th¢ UK and overseas financialty and with Fxay¢r. 2.1 Publlc Tr•fft Wh&n reviewing the aims and objectives of the charity and in plannirvJ future acliwb"es, thè Trust5 have ¢ompliad ilh the duty in Seth"on 17 of the Chanbe$ Act 2011 to have due regard to public berefit guidance published by the Charity Commission and, in parti¢yJlar, the speufic guidance on charitses for thè advancèment of rel1¢n. Page 3
Sheffield Mothodlst Circuit Trustèes. Report for the year ended 31 August 2024 (contlnued) 3 Achl•vements and perfonnance The principal purpose of Ihe Cir¢LHt 1$ lo act as a SUppting boty been Churches and the Distri¢t and Connexion. The Circuit does not seek and, in large measure. does not attain dire ¢onts¢t the public. The direct contact is by Churches and rt is these that the Cirujrt supports in their desT• to wovide benefft to the publK. The money collected. or available for di$sipakn"on, was used as grants to support indivsdua15. Chur¢hes and Projects throughout tho Circuit with their work in their local communTbe5 and lo subsidise thè administrative costs of the Circuit. During the year the Circuit approved new grants out of the Gened Fund and the IATF that totalled £113.400. The policy of the trustees on grant makin9 is to Ènsurè Ihat all applutions can demonstrate publi¢ benefft, fit Circuit mission priorities, pass a test of sustainabilty, show that there is commrtment from thè applicant organisation, and show imagination and creatbvty a5 well as a perceived need for that for which the grant is being applied. The grants wer¢ of S31 kinds, induding.. 1. Grants for the adaptab.on of building5 $0 that Y could mLYe easity meet the modem needs of Churthes and help Churehes provide services to the communty.. 2. Grants which supported the salaries of lay workers attached to Churthes.. 3. Small grants for young pecple to attend Mnferèrwts such as 3Generate Natiortal Methodist Conferènce for children and young people., 4. Small grants for leaming devdopment of lay empk)yees and volunteern. Churches that have received grants from the CireL&t wil show in their own Trustee5' Annual Reports details of the outcorne tsf the aetiwties undertaken as a resuti of recwviThJ the grant. In addOn. the Circurt requifgs a 9rant evaluation fomi to be completed to demon$tralè thè impact of the grant on the Churches and their activities. A discussion dOJment.Castin9 the net on the wde" ha$ baen eons#lered by al the churches. ¥nd asks people l(> consider how the CircLtrt may be structured and organised in the fLrture. Recommendabons were made lo the March 2024 Circuit Meeting wth implementab.on from September 2024 ot)wards. The Safeguarding Trainlng course. CreatiThJ Safer Space Foundation Module. has been delrvered in many churches across the Circuit during the year. The Advan¢ed ModLtle has been ddivered online on a District basts for those in leadership roles. Compulsory EqUale$, Diversity and IndusM)n arKI Unconsryous Bias Training has been undertaken by rninisters. most employèes and certain office holders. This has been delivered online and in fac&ttrface sessions in various churches across the Cir¢uiL everyo has been trained %¥ho needs to be. The Circuit Children's Wcrfk Cwrdinat(>r went on MatemFty Leave Orknber 2023 and Youth Work cordinal0r left in January 2024 $0 the wort has been carried at a reduced scale by one of the Circuit Deacons and one of the ¢hui¢h youth workers, so groups of young peOt have attended residential camp and the Connexional youth conference 3-Generats. The Chitdren's Work Cr*ordinator retumed to %w)rk in Septembèr 2024 working less hours and a j¢)b description has bggn drawn up to rellaet tha changes to the role covering youth and children. The Circuit Mentsl Health ¢(rdInator has delwered Mental Health First Aid training to 118 people from the Circuit, other Circuits and denominabons, as well as PTowdin9 signposb.ng for mentsl health support to people within thty Circuit as and when necessary. He has also taken part in services to introduce rnental he3Jth and what churches might do lo support people with mental health concems. He is organising a Christianity and Mental Health Conferenc¥ in March 2025. Grants have been r¢¢¢iv¢d to $upport the costs for most of this three year proitr¢L so funding wll be sought for the shortfall in year 3. A Lay Employment Group has been set up to ensure compliance and 9Ne guidan on employment issues a¢ro$s the Circurt and churches. In August 2024. ministers moved out of the Circuit but were not replaced. Page 4
Sheffield Methodist Circuit Trustees. Report for the year ended 31 August 2024 (contlnued) 4 Flnanclal reviow During the year th• Cw¢uit reevÈd total in¢ome of £1.262.751 12023: £1.450,9031 ilh expenditu of £1.579,063 {2023". £1,683,138). The resutting net exFendiiufÈ for Ihe year after gain5 on inveslment revaluation of £15,042 was £301,270. The Circuit's main sources of funding were the assessments obtained from Church within the Circuit based on tre membership. attendance and giwng levels of the Churches which totalled £1,012.801 12023.. £950.9911. The Circuit also benèfitted from the receipt of rental i10Me. vA)ich irtludeil rent received from shorthold tenancies from m8nses not occupied by ministers. Total rental income was £81,36512023: £78.6171. Investment income for ihe year totall&d £35,17812023.' £20.5411. The Circuit continued to incur expendilure to ensure that manses were maintsined to a gtrJd and consistent standard. Stipends and employment costs were similar to previous year and in line with budget. One manse was $old durin9 the year. after the replacement manse was purchased the previous yeaf. The trustees of the Circuit have every reason lo believe that the Circuit is a going ¢on¢em because of the ongoing level of a55essment income and it has reserves which are SUffiect to cover any short term reductions Fn lotsl income. The are no subsid1 undertakiros. 4.1 Inv•stm8nt pollcy and wrforn)anc• The Circuit trustees, investment poltcy is aligned with that of thg Central Finw¢e Board of the Melhodisl Church ICFB) and the Trustees for Methodist Church Purposes (TMCPI because these organisations tske into consideration the social. enwronmenlal and ethr¢al considerations. both negalwdy and positivety, that make investmen15 5uilable for the Mèthodist Church. TMCP act as custodian trustee for all •[ e5tale held by the Circjjit, and monies fof long lemi investment are lodged Ihem in various invesknents. SI tsmi deposits are lodged iliredy with the CFB and attract good rates of interesL There are no bench marks for the exp retwns or apwerAalion on investments al TMCP CFB. It is the Circuit'8 policy to manage the cash and investment resources of the Circuit so that a rate of retum on investment - both by way of dividend and p[la1 apPrlation - obtaiwl al least as good as market rate considering the CiT¢uII'$ low appelile for risk. 4.2 P•nslon sch•mgs I the minister5 are enrolled in the Methodist Mintsters. Pension Sdme employer e<>nlributions for the year of 26.9%. Two lay worker$ a enrolled in pension schemes with the Pensions Trust and one lay Worker with Co-operative Investments. All other eligible lay workets are aulfrenrolled in the NEST pension scheme. The employer contribution for an lay employees in a pension scheme is 6%. 5 Plon$ for futurn The CLT have Identified the follwng pkns lor future year5. 1. Encourage initiatr'ves for mission in Churches vthhin the Circuit, 2. To not apply to replace one minister leawng in August 2025. 3. Encourage WQTk with Children and young peopk throughout the CiruJi¢ 4. There are some Churches that have asked to -¢tase to meef arKI will come into Circuit Trusteeship during 2024125 and there are more that the Circuit anticipates dosing in the next few years. Ea¢h property will be considered to del8mlne 11$ value for mlsslon. commlmlty and frt)&1 viab. Dec4Stons mad& to dev the future use and mission of each place. Page 5
Sheffield Methodist Circult Trustees, Report for the year ended 31 August 2024 (continued) 5. To continue to irnplemeftt th proposals agreed by the Cirrt M¢elin9 abrt "Casting the net on the other side.. including developing local teams of ministers. lay stsff and ¢hurches to encourage bettef working together,. creating new groupslcommittees to enable the work of the Circuit i.e. Property Development Group. SafeguardiAg Group. Grants Group. and Communications Group, to work alongside the existing Property CoA$ènts and Manse5 and Maintenance Group, Finance Group. Imirt"on$ Commbttee and Lay Empbyment Group. These will all ieport to the CLT and the Circuit MeÈb"n9. 6 Structur•. governance and m#nag•m•nt 6.1 Structuro Circuits are the coordinatin9 charities for I([ groups of Churches,. Circuits pay the stipends of the ministers and employ lay staff to serve the Chur&5 in th6 Circuit; most decisions are madè at or ratified by the quartefly Circuit Meeting. A Dislrict is the coordinats'ng charity for • group of contiguous Circurts and makes its decisions at the half yearfy synods. The Methodist ConfeWefi meets once each year as the SUrn• demminational body for all Methodist Churches. 1. Overall regulatory authorty rests vthh the Methodist Conference.. 2. The Connexional Office implements decisions made by Conference and is also responsible for the stationing of presbyters and deacons {colJects"vely knovm as ministers) in individual Cir¢u4ts thin the Oistrict., 3. Connexional decisi0n$ ale passed to the Chair of the District and the appropriate offieers of the District for implementation., 4. The District pa$$e$ control down to Circuil kvel for local implentati by the Superintèndènt Minister, ministerlal staff and Cirujit Stewaids, and authorty is delegated to the Cirujit Meeting for certain matters,. and 5. The GIrlt meeb.ng passes regulatory Control d¢yn to Church Councils for local implementats'on by the presbyter. the Church Stewards. and other officers, and this regulatory authority is then exerased by Chureh Co¢Jncils a Managing Trusttss of their chaiity. 6.2 Govgman The Ctrcuit operates within a statutory framework of reguL3tion seeks to ensure that it follows Methodist Standing Ordèrs. It relies on the connex10 Ofke at 25 Tavistoc& Place. Ldon WCIH 9SF to prowde guidanc6 on changes that could affect thè Circuit. The Mission Vision Team meet at least quartèrty to discuss the mission of th¢ Circuit and to evaluate and make recommendations lo th¥ Circuit Meeting about grant applicab"ons. The CLT, consists.ng of the Superintendent Minister, all the Circuit Stewards and all the other Ministers me•t bi-monthty to discuss the policy and administration ol the Circuit and have delegated authority frcn the Truslees to act in belw8en Circuit Meetings should the need arise. 6.3 Responslbllltl•s of the Circuit m•6ting The Circuit Trust are members of the quarterty Circuil Megting. artd th•ir responsibilities are". 1. To formulate and promote poliries which 11 advance the mission of the Church in the Local Churches and, in particular, to supervise the y$È of iestyjrces of personnel. property and finance and to a8Si¥t Local Churches having exceptsonal problems., 2. To encourage inteT-Churth and eujmenical cwperation.. 3. To keep wthin its scope all Circuit ¢oncems not deah with elsewhere: 4. To contribute and rèspond. as the case may be. to the development ol Connexional ptslicies as refflected in the work of the Conference and the Methodist Counthl, and to carry out 113 other responsibile$ wth any such development in mind., 5. To be aware that thè stipends of the ministers in the Circuit is set - currently by refere1 to the change over ¥ year in the Consumer Price Index and to the annu change in the Average Weekly Earnings Index - using a formula that was agreed by the Methodi81 Conference for all ministers vthin the Connexion,. ar 6. Constanuy lo be aware of the public berit guidance issued by the Charity Commi$$ion. Page 6
Sheffield Methodist Circuit Trustees, Report for the year ended 31 August 2024 (continued) 7 Ri¥k m¥n¥g•m•nt The Circuit is largety risk averse but. especially in making grants to enthès embarking on new and imaginatwe initiatives, the Circuft is prepared lo undeMrte considere(l risks. Risk5 are managed by bèing awarè of them, quanmw.ng thetr impact rK&l only in wsl temis but in possible reputational or structural damage, lang them off through an insurer and minimisir¥J them by not taking them or by sètting up control systems that timeousty P)rt any swfficant (8nye in the risk. 8 Safeguardlng The C11t abides by the safeguarding princiF4es. guidance, rules of the Methodist conferCe and ensures they are implemented in the churches. This indudes safe recruitment for both paid staff and volLtntèèrs, obtaining DBS disclosures for #ll workers working children and vulnerable adurts. provtding safeguarding training for all workers and officè holders. and keeping records of any safeguarding incidents. 9 Reserves level and pollcy The Cir¢uit $eèks to use am ils assets for its charitable purposes, Mthilst cJntinuing to $e¢ur• arvj m3intsin the Circuit's financial viability. 11 seeks to set a balanced revenue budget. in order that the ongoing normal costs of ministry, mission and m8n3gement e met from assessments from churches. income from leltings. invèstmenl tn¢ome, and grants and donations. The Circuit has a re5er¥es poky covering an its unre31rided fvnds whK is revIvd annualty. In order to meet 11$ ongoing finan¢ial obligations indudiNJ the monthly payment of slipÈnd$ and saLqries. District and Connexional assessments quarterly in advance. and to meet urrforeseen ureumstances. the Cir¢uit need5 to maintain sufficient unrestricted reserves. The Circuit Meetin9 has detemiined thal unrestrid¥d reserves shoLdd be equivalent to 6 months of normal revenue operating costs, wtrwch inctude the Circuit Mo(lel Trv51 Fund balances. The UnStricted reseNes readity available lotal £762,196 of £208.745 1$ hehj ni the Clrujit Model Trust Fund. These reserves w¢)uld en8e the Cir¢uil to maintain mission and ministry in the short tenn rf. for ateVer reason. third party grants were to be wlhdrawn or individual churches encounter drfficulties in paying their as$è$sm•nts. Unrestricted reserves are defined a5 unresthcted ld$ less the investment in tangible fixed assets, loans to local hur¢hes, d•si9nated lunds, and grant commthents. Although grants are made annually out of the Cirujit Model Trust Fund, it is ree09n1s that some grants will be paid by annual instalments antJ that there w711 be xpplicath.ons repeated in firtU years. Provision is made for grants committed but not paid duTing the year. The trustees seek to ensure that there is sufficAent in the Circuit Model Trust Fund to meet these antrcipal¢d requests and the trustees reeo9nisè future ants a$10.b.*$ on the Balance SheeL 11 is expected that the totsl sn the Cir¢tJrt Model Trust Fund have varied amounts, year on year, as some churches are dosed and sold the proceeds being paid into the Circuit Model Trust Fund. The level of Unfesth"¢ted re$erve$ are consistent the reserves polry. If in fuiure years property disposals generale surplus funds, these wll be uged will be used for rni33ion projects and grants to to enabk them to their MIOn and the aims and objectives of the Circuit. The net proceeds Of Sale of any cl11 property are wuired to be (¥edited lo the CcUlt Model Trust Fund which are unrestticted in their naturè. bèing available all lAeth¢i$l purposes. The nel proceeds of sale are subject lo a Connèxional Levy and there is an annual levy by the District on the total valuè of the Circuit Model Trust Fund at the beginning of the year. Both levies are made available by way of grants in respect of new initiatives in mission and mini$ty throughoul the Connexion and Distitt. The Circuit Modd Tnjst FurKI 1$ used by the Circuit for a variety of mission, ministry and property projects both for the Cirujil and chLKches. Page 7
Sheffield Methodist Circuit Trusteès. Report for the year ended 31 August 2024 (continued) Statfrmont of disclosure to auditorn The Trust•s of tho eharity at the date of approv of this Annual ReFXt taeh eonfim: - as fai as they are aware. there 15 rn retewt audrt infom)alion of the (aritys auditors are unaware.. and they have taken all thè steps that they ought to have taken a5 a trustee in order to make themselves aware of any rèlevant audit inlorniation and to establish that the ¢hartys's auditors are aware of Ihat infomialion. Approved and authorised by the Circuit Meeting on 26 Marth 2025 and signed on its behaw by: Revd Romeo Pedro Superintendent Minist Page 8
Sheffield Methodist Clrcult Statement of Trustees. Responsibllities The trustees a sponsible for preparing the trustees. #1 aTrJ the finawal statements in a¢cordan¢e wth the United Kingdom Accounting Standards (United Kingdom G•nerally A¢¢epted A)Unting Practice) and applicable law and regulations. The law applicable to charibes requires the trvslees to prepare financia statements for •zLh finartial year which give a true and fair view of the state of affairs of the ehanty and of the incoming resources and application of resources of the charity for that period. In preparing these financi statements. the trustees are required to: s#le¢l suitsble aceounting poliaes and then apply them ¢on$islentty'. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and pruden( state whether applicable accounting standards have been fo11thl. subject to material dèparture$ disdosed and explair*d in the financial $tatemÈnl$". and Prepa the financial ststements on the 90ing COrM basis Lmless it inappropriate lo presume that the charity WIN continue in business. The Iruslees are re5pon3ible for keeping proper accounts'ng record5 that disdose Vlilh reasonable accuraey at any time thé financial posilion of the charity and enable them to ensure that the finaneial Statements comply the Charities Act 2011. the applicable Charibes (Accounts and Reports) Regulations, and Ihe provisions ol thè con$tilulion. The trustee$ ar¢ also responsible for safeguarding the assèts of thè ¢harty and hence for takin9 reasonable steps for the prevention and detection of fraud and other irregularities. Page 9
Sheffield Methodist Clrcult Independent Auditorfs Report to the Members of Sheffield Methodlst Circuit Op5nlon We have audited the financial statements of Sheffidd Methodist Circuit (the 'tharÉty) for the year ended 31 August 2024. which comprise the Statement of Finanaal Acti"eS. Balance Sheet. Cash Flow Staiemenl. and Notes to the Financial Ststèm¢nts, inthding a summary of significant accounts.ng ptsliaès. The financial reporting framework that has en applied in their preparats.on is applicabte law and Unite(I lfjngdom Accounting Standards. including FRS 102 'The Financial Repo"n9 Standard appkcable In the UK at)d Repu1¢ of Ireland. (Unitsd lQngdom Generally Accepted Accounting Practi1. In our wnion the finanrAal statements.. give a true and fair eW of the stste of the charity's affairs as at 31 August 2024 and of its incomirmj resources and application of resources for the year then onded". have been properly prtyarèd in accordance th Urrited lQngdom GeneTty ApIed A¢counting Practice,. ar have been prepared in accordance wrth tr r¢ouirements ofthe chare$ Act 2011. B•¥is for oplnlon We conducted OUT audit in aordanc• Intemational Standards on Auditing {UKI {ISAs IUKII and applicable law. Our responsibilities under those Standards are fvrther describe(l in the Auditor's responsibility.es for the audit of the financial statements seetion ol our report. We are independeni gf the charity in accordance with the ethtcal requirements that are relevant to our aLtdrt of the financial statements in the UK. includrng the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordance wth these requiremènts. We believe that the audit evidence wtr have obtained is SLthcient and appropriate tt> prwde a basis fw our opinion. Concluslons relating to going concem In auditing the financtal statements. we ha conduded that the trustees use of the going ¢Meem basis of accounting in the preparation ofthe financial statements is appropriate. Based on the work we have perfomed, we have not i¢Jentified any material uncertaintsès relab.ng to events or conditions that, individualty or collectivety. may cast significant doubt on the charity's ability to c4Jntinue as a going concern for a period of at least Iwefve morths from when the original finanaal statements were authorised for issue. Our responsibilits"e5 and the pOnsIlitieS of the trustees Vith respect to goirvj ¢on¢wn are described in the reEevanl sections of this rèport. Oth¥r inforniation The olhei information comprises the information induded in the annual feport, induding the trustees. report, other than the financial statements and our audrtorf$ pOrt thèreon. The trustees are responsible for the other information contained wrthin the annual report. Our opinion on the financbal stslements does not cover the other information and. except to the OXIt OtheSe expl ststed in our report. we do It èxpress any form of assurance con¢luslon thereon. Our responsibility is to read the other information and. in doing so, cons¥Jef whether the other information is materially inconsistent with the financial statements or our knovledge obtained in the course of the aL¢dit, or otherwise appèars to b? mateiialty misstated. If we idenbfy Such mèrial inconsistencies or apparent materhal misstatements, we are required to det•m)ine whether this gives rise to a material misstatèment in the financial statemen15 themselves. If, based on the work we have perforned. we condude that there is a material misstatement of this other information, we are required to report that fact. We havè nothlng to report in this regard. Page 10
Sheffield Methodist Circuit Independent Auditorfs Report to the Members of Sheffield Methodist Circuit (continued) Matt&rs on whleh w• ar• rèqulrèd to T•POrt by exception In the light of our knovAedge anil undeistanding ol the thafity its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees. Report. We have nothing lo report ifi respect of the fdh)wng matters in rdation to which the chariti.es (Accounts and Report81 Regulations 2008 require us to report to you rf, in our opinion". the informab.on given in the Iru$tees' report is inconsistent in Wby material respèd Ihe financial statements", or suffi(3enl antIng cordS have not been kept: or thè financial statements are not in agrnèment Tith the accounling records,. LY we have not rè¢etved all the infomiab.on and explanations we reqLrire for our aud Responslbilities of tNstses As explained more fvlly in the Statement of TnJstees' Responsibilitiès sét on page 9. the trustees are r&spon$ible for the preparation of the financial ststements and for bwng satisfied Ihal they give a true and fair view, and for sud) inlemal ¢ontrol as the tnjstees determinè 1$ ne¢Èssary to enable the preparalion of financial statements that are free from material misstatemenl, whether due to fraud Of error. In preparing the financial statements, the trustees are responsible for asseswng the charity's ability to Continue as a going concem. dis¢lo$ing, as #Pleable. matters related to goirrfJ concem and using the going concem basis of a¢untIng unless the trustees either intend lo liquidate the charrty or to cease operations. or have no realistic altemativg but to do so. Auditor Re$pon$ibllltl¢¥ for the audlt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance ¥wth the Acl and relevant regulations made or hawng effect ther•urwJ¢r. Our obJ'ectNes are to oblain reasonable assuranc• ab)ul whh•r the financial statements as a vtholè aro fm from material misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high levet of assur3r, but is not a guaranttè that an audil conducted in accordance wlh ISAS {UKI will always detect a material misstatemtnt rt Èxists. Miystslements can arise fr¢Jn fraud or error and are considered material rf. individualty or in the aggregale. they could rèasonably be expected to influence th9 economic decisions of users tsken on the basis of these fmanrial statements. The extent to which our procedure$ are Capae of dete(ng irTewAaribes, induding fraud is d&tsiled below. The tharity is subject to18 afKI regulations that directty and indwecty affeet the finarval stalemenls. Based on our understandin9 of the ¢harity and the environment rt operate5 vthin. we delerniined that the laws and regulations which were most signfficant incl¢Jded FRS 102 and tre Charities Act 2011. We considèred the extent lo which non-compliance these laws and fegulations might have a material Èffect on the fiartal statements, induding how fraud might occur. We eVVated management's inceniives and opp0rtuft"eS for fraudulent manipulation of the fin¥n¢i¥l statements (In¢luding the risk of override of controls). and detennined that the Princip risks were related to the posting ol inappropriate joumal entr8 to improve the charitys r•suli for the period, and managemenl bias in key accounting estsmales. Page11
Sheffield Methodist Clrcuit Independent Auditorfs Report to the Members of sheffld Methodist Circuit (continued) Audit procedures parformed by the engagement team anded.. Discu$$ion$ management arHI those re¥ponbl8 for legal compliance procedures VAthin the charity to obtain an undeistanding of the legal an(5 re9ulatory framework applicable to the charity and how the charity ¢gmplies wilh that framework, induding consideration of known or suspected instances of non-MPliance with laws and regulations and fraud., Remewing minutes of Twstee meelings., Idèntifying and assessing the desi9n effectiveness of controls that Managernt has fft place to prevont and detect fraud and noTrcomplI8n with laws and regulations: Chaltenging assumptions and judgèments made by managemwt in their si9nfficant accounting ests"mes. Identifyin9 and testing joumal entries. in parthxl¥r any joumal enlries posted with unusual account combination$ or posted by senior management. A further description of our responsibilities is available on the Finanaal Reports"ng Counafs website at v.frC.or9.Uklaudlt0rS1audlt-aS¥uran¢e/3dltor-$-rÈsponSlb11es-fOr-thadIt-of-th&-fdesCription-O1 -the-auditorfs-responsibilttiès-for. This description fomis part tsf our auditorfs report. Use of our report This report 15 madè solely to the charity trustees. as a W. accordan V•iih 3ecb"¢n 144 of the Charrties kl 2011 and regulations made undef section 154 of that Act. Our work has been undertaken sQ that we might state to the Irustetrs those mattefs we are required to stste to trustees in an aL1t0T5. report and for no other purpose. To the fullest extent pemiitted by law. we do nol a¢cept or assume responsibility to anyone other than the charity and its trustees a8 a body. for our audil work. for this report. or for the opinions we have fomied. Hawsons Chartered Accountsnts Statutory Auditor Pegasus House 463a Glo$$op Road Sheffield S10 2QD Date.. Haws¢n$ Chartèred Accountants is eligible for apkx)inknent as auditor of the charity by virtue of rts eligibility for appointment as aLKlitor of a cornpany rKr section 1212 of the Compan5 Ad 20. Page 12
Sheffield Methodlst Clrcult Statement of Financial Actlvities for the Year Ended 31 August 2024 GoTr•rdl Clr¢uit Mod Fund Trust Fund lunrnstrictedl lunrnstrict•dl Other Funds Ir•stslet•dl Total 2024 Total 2023 Nots Incom• Assessment or share Rental income Pvopèrtiès introduced Investment inc4Jme Olher irKomè 1.012,801 81,365 1.012.801 81.365 950,991 78.617 370,000 20.541 30.754 12.921 37,557 22.257 35.178 133,407 95,850 Total 1.144.644 22.2S7 95.850 1.262.751 1.450.903 Expendlturn Stipends. salaries. NIC and pension Distri¢t assessment Motor and travel Insurance. telephone arKI utilitie8 Mainl¢nan¢è on manses Admini$lrats'oA Exp8nditur• on oth•r Circuit Property Other expenditure Grants and donations Contributions to the District Advance Fund Methothsl Church Fund 843.636 249,824 24.565 21.275 864,911 249.824 24.688 832.376 242,462 31.570 123 113,088 41,3n 48.383 375 113.463 41.377 48.771 97,991 100.601 100,358 37.958 26,815 14,0501 37,958 32,959 160.802 23,460 23.144 39,224 6,144 66.452 98.400 4.310 4,310 44.162 147,790 Total Net GainsllLossesl on Investment$ 1.381.5* 103.098 94.369 1.579,063 1.683,138 2.5L 12.536 7,310 Net lexpendituiel I income Transfer betsyeen ftFnd5 (234.4461 171.460 168.305) {171.4601 1,481 {301,2701 (239.545) other recognised gains I Ilo$¥•¥l Gain on property disposal Gains on revaluation of rixed assets 98.368 98,368 18,500 242,$00 242.500 145,000 Net movement in furKts 277.882 (239.7651 1,481 39.598 176.0451 Re¢oneili4tlon of fund$ Total funds brought forward 9,577.455 448.510 16,220 10.042,185 10.118.230 Totsl fund$ carried forward 9,855.337 208.745 17,701 10.081.783 The rK)tes on pages 16 to 24 foffn an integral part of thèse finanrAal statements. Page 13 10.042,185
Sheffield Methodlst Circuit (Registratlon numbor: 1134151) Balance Sheet as at 31 August 2024 General CAUlt Alodol Fund Trnst Fund (Unrnstrlctedl (Unrestrictgdl Funds (R•strlctodl Total 2024 Total 2023 Nol¢ Flx•d assets Tangible fixed a33ets Inv&stment properties Investments 6.416.886 2.885.000 14.211 6,416,886 2,885,000 149,451 7.078,670 2,410.000 61.681 135,240 9.316.097 135.240 9.451,337 9,550,351 Currnnt assots Debtors and prèpayments Cash at bank and in hand 97,156 579,001 57.300 107.136 154,456 703.838 142,206 548,983 17.701 676,157 164.436 17,701 858.294 691,189 Creditors: Amounts falling duè within one y•ar 10 136.917 {90,931 1227.848 199,355 Not eurr•nt assots 539.240 73.505 17,701 630.446 491.834 Not assets 9,855,337 208.745 17.701 10,081,783 10.042,185 Funds of the ¢1•t. General Fund CiTCUIt Model Trust Fund Other Funds 9,855,337 9.855.337 208,745 17.701 9.577,455 448,510 16.220 208,745 17.701 Total funds 11 9.855.337 208.745 17,701 10.081.783 10.042,185 Thè finanaal statements on p¥ge$ 13 to 24 *re approved by Ihe trustees. and aulhorised for issue on 26 March 2025 and signed on their half ty. Mr Matt Irons Treasurèr Revd Romeo Pedro Superintendent Minister The notes on pages 16 to 24 fomi an integral part of these finantyal stemen Page 14
SheffRld Methodist Circuit Cash Flow Statement for the Year Ended 31 August 2024 2024 2023 Cash flows from operatlng activlt¥•¥ Net cash expenditure 1301.2701 (239.5451 Adju$tm•nts to Cash flows from non4ash It•ms Interest feceived Properb"es inlr¢du¢éd Depreciation of tangible fixed assets (Gains) I losses on investment revaluation 135,1781 {20,5411 (370.0001 1.284 7,310 1.284 {15,0421 {350.2061 1621,492} Worklng cap5tal adjustments Ilncreasel in debtors Increase in creditors (12,2501 28,493 118.384) 10 Nel cash llows from operating actsvibes 333,963 {638.910 Cash flows from Inv•stlng actlvltles Paymènts to acquire tangible frxed assets Receipts from sale of tangible fixed assets Payments to acquire fixed a$$et 5nvestmènts Pr¢xeeds from salt of invoslments Interest re¢¢ived 1825.0001 513.500 526.368 (300,001) 227.273 35.178 479.998 20.541 Net cash Ilows from investing acbvttses Net in¢reasel{decrea$el in cash and cash equivalants 4B8.818 389.039 154,855 1249,87f I 798.854 Cash and ¢ash equivalents at 1 September 548,983 Cash and eash equivalents al 31 Auwst 703.838 548,983 The notes on pages 16 to 24 form an inlegfal part of these financial st*ménls. Page 15
SheffRld Methodlst Clrcult Notes to the Flnanclal Statements for the Year Ended 31 August 2024 1 Accounting policie Gèneral infomiation and basis of prnp•r•tion The address of the registered office is given in the charity infom)ation on page 1 of these finaniial Statemants. The nature of the tharty's operab.ons and prinapal activrties are set out in the TnA5tee¥ Port. The charity constitutes a publi¢ èntity as defined by FRS 102. The financial statements have been prepared in aCcoTd8n wrth Accounting and Reporting by Chariiies.. Statement of Rewnmènded Practice applicable to charrtTres preparing their accounts in accordance the Finan¢rdl Reporting Standard appluble in the UK and Republie of Ireland {FRS 102), the Chaiilies Acl 2011 and United Kingdom Generally Aeptsd Prath"ee. The finanual statements are prepared on a g¢ng concem basis under the histori cost convention. Funds The funds held constiiule.. . General Funds held fof any purpose of the Circuit vthith are unrestricted. . The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted. . Restricted funds ace funds which are to be used in accordance with 5pe¢ffic instrudions imposed by donors or whh have been raised for specffic purposes. Methodl$t Chureh Fund Income is induded in the Ststement of Financial Ac*wties (SOFA) when thè Cireuit becomes entiued to the resources, it beMe$ probable they wll receive the resources and Ihe monetary vaiije measured wth sufficient reliability. Expendltur• Expenditure is reco9nised a liabhlity 1$ incurred. or a construclNe oblgation arises that resutts in the payment being Ltnavoidable. Liabilities are reco9nised as $0on as an oufflow of economic benefit is considered mLYe likèly than not under the legal or constru¢tive OblatiOn commiltsng the arcurt to pay out resources. Ralslng funds These are costs inCue in attra¢tiw voluntsry income. the managemenl of investments and those incurred in trading ath"wties Ihal rai$¢ fvnd$. Govemanco costs These include the costs 8ttributsble to the charl$ compliance constitutional #nd ststulory requirements, including au¢Jit, strategic managemenl and trustees's meetin95 and reimbursed expenses. Grants Grants made by the Circurt from rts own funds are recognised in full at the time of agreement or when the Circuit accepts that there is a legal or operational oblwab.on to make payment. When the grant is recurrent ovèr more than one year thè balanee payable in ftrture years is treated as a provision for fLrture commttments in the Balance Sheet against the appropriate fund, thè provision being rekased in future years as $Iments are paid in acrA)rdance w¢th ihe orsginally agreed terms. Tangible fixed as¥•t5 for ust by the circuit Tangible fixed assets arè capitalised if they can be used for m(Ye than one year, and cost at least £1.000. 11 i¥ th¢ Cireurt's F)olicy to maintain the freed ar long leasehold re$Klenb"o1 propèths in good repair ensuring high residual values. The Trustees consider the lrfe of Ihe pioperties to be so long and any dimUn.0n sn value is minimal that ¢onseqLaèndy thare is no significant annual deprecAation. Page 16
Sheffield Mothodist Circult Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 1 Accountlng poli¢5es Icont•nuod) Inv•stm•nt prop•rtl•s Investment properties are measLwed at fair Val at ea¢h r¢portirwJ date with changes in fair value recognIs in net gains l {losse3) on investrnents in the SOF Investments Investments ale valued in the balance sheet al markel vatue al Ihe year •nd. Invèslmént income is induded in the a¢¢oLmts when receivable arKI any gains or losses on revalualion at tho year end are shown in the SOFA. Taxatlon The Cireurfs aetivitses are not subject to tsxation. Pen¥ion The Cir¢vtt contribLrtes to the Methodr$t Minister5 Pension Scheme which is a defined benefit seheme. The scheme is a multi employer wnsion scheme and it is nol wssiblè to i<lentsfy the assets and liabihbes of the scheme whi¢h are attriblttable lo the Circuit. The scheme is accounted for as a defined contribLrtion scheme. The Circuit also operates a defined Contributon pension seh•mè for administrative staff and lay workers. Contribution$ are recognised in the SOFA in the period in vknich they become payable in accordance wtth thè ru$ of the scheme. Going concern The financial Jtslements havè been prepared on a going concem basis as the Trustees belwe that no material uncèrtainties exist. The Trustees have considèred thè level of fvnds held and the expected level of income expenditure for 12 month5 from aulhorising these finar131 statements. The trustèes believe that the expected level of income 1$ $uffityent e$Frtk4lly ¢onsidermg the Ve1 of re5eNes held by the charity to enable it to ¢ontinue as a going concern. Page 17
Sheffield Methodist Circuit Notes to the Financlal Statements for the Year Ended 31 August 2024 (continu?d) 2 Int•r•st and investment incom• Interest and dividends on CFB investments UnTr¥tri¢ted Funds 2024 R•slrlcted Funds 2024 Total Funds 2024 Total Funds 2023 General Circuit Model Trust Fund 12.921 22.257 12,921 22.257 15,349 5.192 35.178 35,178 20.541 3 Oth•r Income Unrestrict¢d Funds 2024 R•5tr1et•d Funds 2024 Totsl Funds 2024 Total Funds 2023 Grants and donations Project inrne Other 8.000 5.110 24.447 379 29,119 66.352 8,379 34.229 90.799 26.938 3,803 37,557 95.850 133,407 30.754 4 Fees for the audit of th• •¢eounts 2024 2023 Audit of the financial stst8ments 14.000 13.400 6 stlpènds and salaries The aggregate payroll costs werè as follo. 2024 2023 Slipènds atKI salaries National Insurancè contributions Pension costs 675,164 61,159 128.588 655,329 57.631 119.416 864,911 832,376 Page 18
Sheffield Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) s stlpends and salaries Icontlnued) The averag& number of Ministers in rtteipt of sttpends was 18. Thè average monthty number of employees dLEring tho year was 1212023.. 13) induding 818y w>rkern. No employee eamed over £60.000 durirvJ the year12023." None). The membtrrs of the Circtlrt meeb.ng are the trustees of the Circimt. The Circuit Superintendent Minister, all Cireuit Stewards, all ministers and 6 lay workers are members of the Circurt Le3dershFP Team have additional management responsibilthe8 and are considered as key management pernnel. Nop.e of the Circutt Stewards rèoive any remuneration OT expenses. The total of stipends paid to the Superintendent Mmiislèr and othw presbyters was £447,329 {2023". £422,SS41. 15 mini$ters who are also Trust•8s INe in propèrties by the c 6 Adminlstrative and Other Expgnditure Admlnlstrntlon UnT•strlct•d Funds 2024 R•strlet•d Funds 2024 Total Fund$ 2024 Total Funds 2023 Legal and professional Printing and stslionery Other offi¢* ¢o$ts TMCP administration charge 31.213 8,8 31,213 8.806 7.900 852 78.211 7.975 11,701 2.471 852 48.771 48.771 100,358 Oth•r Exp•ndltur• Unrestricted Funds 2023 Restrlct•d Funds 2023 Totsl Funds 2024 Totsl Funds 2023 Ministry resources Project expenditure Other 7.476 13.531 5.808 7.476 19,675 5,808 7,488 11.842 3,814 6.144 26.815 6.144 32,959 23.144 Page 19
Sheffield Methodist Circuit Notes to the Financial Statements for the Year End 31 August 2024 (continued) 7 Tangibh fixed ass•ts Manses and othor property Equipment Total Cost I Valuation At 1 September 2023 Transfèr to investh)ent properties Disposals At 31 Au9USt 2024 7,075.833 {232.500) 428,000 6.422 7.082,255 1232.5001 428,000 6,415.333 6,422 6.421,75S DeprlatiOn At 1 September 2023 Charge for the year 3.58S 1.284 3.585 1.284 Al 31 August 2024 4.869 4.869 Not book valu• At 31 August 2024 6.415.333 1,553 6,416,886 Al 31 August 2023 7.075.833 2,837 7,078.670 8 Investments Investment propertlos Inv•stm&nt propgrtig1 Cost or Valuation At 1 September 2023 Transfer from fixed assets Revaluab"on 2,410.000 232.500 242.500 At 31 August 2024 2,885.000 The revaluation of investsment properties 15 based on wofesSn0l valuarts undertaken post year-ond. Page 20
Sheffield Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 8 Investments l¢ontinued) Flxed asset invostmonts Total Cost Al 1 September 2023 Additions Disposal proc•$ Gain on disposal Gain on revaluation 61,681 300.001 {227,2731 14,380 662 At 31 August 2024 149,451 g D•btorn Unr•strlctsd R•strlet•d Funds Funds 2024 2024 Totsl Funds 2024 Total Funds 2023 Stipends paid in athance Prepayments and sundry debtors 33.864 120.592 33.864 120,592 35,761 106.445 154,4S6 154.456 142.206 Debtors includes £54.000 (2023.. £47,500) recoverabfe after more than one year. 10 Crnditorn: amounts falllng duo withln ong year Unrnstrict•d R•strlct•d Fund$ Funds 2024 2024 Total Funds 2024 Total Funds 2024 Total Funds 2023 General Fund {unmtrl¢tsd} Deferred income- assessmenls Accruals and surKlry credf(ors 116.325 20.592 116,325 20.592 116.325 20,592 138.689 17.842 138.917 136.917 136.917 156.531 Clrcult Model Trust Fund lunrostrfcted) Provisions re grant commitments 90,931 90,931 90,931 42.824 Total 199.355 Page 21
Sheffield Methodist Circuit Notes to the Financial Slatemènts for the Year Ended 31 August 2024 (continued) 11 Funds 2024 Brought In¢oming R•sourc•s Forward r•soU•S •xpgnded Gainsl Iloss•sl Carried Forward Trnnsf•vs Unrestrictgd fvnds General Fund 9.577.455 1.144.844 (1.381.596) 103.098 22.257 1171.460) 1.166.901 11.484.694) (94.369} 171.460 343,374 9.855,337 Circuit Model Trust Fund 448,510 12,536 208,745 Total unrnStriCt fitnds 10.025.965 355,910 10.064,082 Rèstrict funds 16.220 95.850 17,701 Total fvTrd¥ 10.042.185 1,262.751 1.579.063 355,910 10,081,783 2023 Brought Incoming Resourc Forward f•SQUTC6S expended Gainsl {Lossesl Carrf•d Forward Trnn$f• Unrtystrletod funds Gèneral Fund 9.393,792 1.412.208 (1.602.980) 213.120 161.315 9.577,455 CiTcuII Model Trust Fund 723,350 11.757 68.352 213.120 5,125 446,510 Totsl unr•StrIct funds 10,117.142 1.423.965 (1.671.332} 11.806 156.190 10,025,965 Restricted funds 1.088 26,938 16,220 Total funds 10.118,230 1.450.903 1.683.138 156.190 10.042.185 The transfers befven unrestricted fvnds relatè to Ihe movement of fwmls ari%ng from sale of properbes and the release of grant income to further the charitable activities of the CircuiL Page 22
Sheffield Methodist Clrcult Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 12 Anatysis of net assets between funds 2024 G•n•ral Clr¢uft Mod Other Fund Trust Fund Funds (Unrestricted) Iunrestrictedl (Restrfctedl Total Fund3 Fixed asset Cash and currènt investménts Other current asSetsl{liabileSI 9,316.097 579.001 139.7611 135.240 107,136 33.631 9.451.337 703,838 173.3921 10,081,783 17,701 Total net assets 9.855.337 208.745 17,701 2023 General Clrcult Model Oth•r Fund Trust Fund Funds IUnrnstrlct•d) IUnrnstrlct•dl (R•strletsdl Total Funds Fixed assets Cash and current investments Other current assetsllliabilities) 9.$27,645 126.995 7.185 22.706 405,768 20,036 9.550,351 548.983 157.149 16.220 Total net assets 9.577.455 448.510 16,220 10.042,185 13 P•nslon costs D•fin8d b•n•fft p•nslon seh•me The Circuit Contributes to the mhOd1$t minterS Per¢ion Stheme. a group pension scheme. for èa¢h minister re¢eiving a slipend is in an appointment under th? ¢ontrol of cOnfence. The penston charge for the year repre$ent$ conlrl)ulion$ payAe to the S(eme of £115.223 (2023.. £IC6,8451. No contributions were outstanding at the year•end. Defined ¢ontrlbutlon seh•m• The pension Char for the ar ropres•ts ¢onln"bulions payable to the Stheme of £13,365 12023.. £12,571). No contributions were outstanding at the year end. 14 Opernting lease coffimitments Total fvture minimum lease payinerrts under rbjnrycancellable operatirvJ leases are as foNow8'. 2024 2023 Falling due within one year Falling due after more than one ar 2.606 6.487 2.606 7,658 9,093 10.264 Page 23
Sheffield Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 (continued) 15 Rglated party tranu¢tion$ There were no party transactions in the year12023'. £NI). Page 24
Sheffield Methodist Circuit APndIX 1- Trustèes of the Sheffield Methodist Circuit as at 31 August 2024 Mr John AlmorKI Ms Sue B393haw Mrs Jackie Bailey Mrs Carole Baker Retrd Kate Barclay Mr Alan Bettison Revd Inderjil Bhog Mr David Bingham Mr David Blackbum Mrs Rita Blackwell Rev'd Phillip Borkett MT Peter Brand Ms Li2 Brook Ms Chrtstsne Buckley Mr David Burton Dr Jenny BleT$ Mrs Lynne Capewell Mrs Jenny Carpenter Mr Alec Cathright Mr lain Cloke Retrd Naomi Cooke Mrs Jean Cookson Mrs Ann Croft MTS Bev Dale Mr John Dalè Rev'd Michelle Deans Mr Jon Dilk$ Mrs Sue Dilks Mr Steve Dbxon Mrs Helen Dunford Ms Erica Dunmow Mrs Pam Eaton Mi55 Louise Elherington Mr Simon Etty Mrs Jan Fly r Neil Grant Mrs Sue Griffiths Mr David Grimley Mr Emmanuel Gyening Mrs Kalrin Hackett Rev'd Jonathan Hai9h Prof John Harding Mrs Brenda Harrison Mrs Hazel Harrison Mrs Judith Hartley Mr Graham Hill Dr Anne Hollows MrJeff Hough Mrs Anne Humphreys Ms Kale Ibbeson Mr Matt Irons Mrs Christine Jackson Mr Timon Jansen Revd Judith Jessop Mr Chr$$ Jones This page does not fomi part of the statutw finant>81 ststements. Page 25
Sheffield Methodist Circuit Appendix 1 - Trustees of the Sheffield Methodist Circuit as at 31 August 2024 (continued) Mr Glyn Jtsn¢$ Revd Mike Jones Mr$ Bridget K•llètt Re¢d Claude Kimpinde Mr Donald King Mrs Janet Lthes5 Mr Ptrler Lockwood Mrs Libby Long ReWd lan Lu¢raft Mr5 Ann Lyons Mr Arthur Lyons Ms Janet Malbon Ms Bridget Manley Mrs Audrey Mann Mrs Sheila Mappin Rev'd Debora Marschner Rev'd Kim Mason Mrs Pam Mè8k Rev'd Paul Mellar$ Mrs Kath Milner Mrs Sue Monaghan Rev'd James Modey Ms Heather Moriis ReVd Tracey Morris Mrs Sue Nuttall Mrs Jane Offord Mr Neil Offord Mrs Yvonne Ogden Mrs Mary Parker Red Philip Peacock Rèvd Romeo Pedro Re¥/d Jill Pullan Rev'd Lisa Quamby Rev'd Carla Quenet Mrs Melissa Quinn Mrs Heather Rothetham Mr Paul Rotherharn Mr Philip Rowland Ms Joan Sharp Mr Mark Sharples Rewd John Simms Mrs Val Smith Mrs Janet Soulhgate Revd Maurice Stafford Mrs Sue Stanworth Mrs Julie Talbot Ms Ann Taylor Deacon Annabel Terry Miss Aileen Treloar Ms Maryke TuTvey Re¥/d Gill Tutt Mr Greg Unwin Ms Jo Webster Mr Nick Whitworth Mrs Carol Wigne This page does not fo part Of the statulory finanual statements. Page 26
Sheffield Methodist Circuit Appendix 1- Trustees of the Sheffield Methodist Circuit as at 31 August 2024 (continued) Mrs Joyce Wiles Mr Nigel wi$ Mr John Wilkins Mrs Evelyn Windle Mrs Eileen Woodthor Mr lan Wright Deacon Jackie Wright Mr StJohn Wnght This page does not fomi part of the statutory firtancial statements. Page 27