THE METHODIST CHURCH WEST OXFORDSHIRE CIRCUIT (Charity RegistratFon No. 1134159) Circuit No. 23103 within the Northampton District of The Methodist Church TRUSTEES, REPORT AND ACCOUNTS For the Year ended 31 August 2022 CONTENTS Page TR1-6 Trustees, Report Independent Examinerfs Report Statement of Financial Activities IER1 FS1 Balan￿ Sheet FS2 Notes to the Financial Statements FS3-13 TRUSTEES. ANNUAL REPORT ON FINANCE AND GOVERNANCE FOR THE YEAR ENDED 31 AUGUST 2022 Basis of preparalion and legal framework The Charrtls annual report and accounts for the year ended 31August 2022 have been prepared in accordance with the CharitFes Act 2011 and the Charittes.. Statement of Recommended Prathce 2015 as applicable to the Finanaal Reporting Standard (FRS) 102. Full Name of Charity- The Methodist Church, West Oxfordshire Circuit, also known as West Oxfordshire Methodist Circutt, West Oxfordshire Methodists and Wrtney and FarÈngdon Methodist Circuit. Registration Charity Number - 1134159 Date of registration - 5 February 2010 Main communication address - The Superintendent, 40 H￿h Street, wrtr￿y. Oxon. OX18 6HG The members of the West Oxfordshire Methc*Jist Circuii Meeting are the Charity Trustees. membership being made up of circurt office holders. ministers and representatives appointed by the local churches. Full membership is shown as Appendix A to this report on page TR 6. Circuit Minister5 and officers Active Circuit Ministers: Rev Rose westric￿- Superintendent (to 31 Awust 2022) Rev Andrew Biggs- Superintendent (From t September2022) Rev Fred Ireland Rev Jason Cooke Re¥ lan Worrall Rev Charles HarrT5 - Part4ime Associate Minister Circuit Stewards: Mr lan Cotton (Senfvy Stewanl) Mrs Rosemary Britton Mr Eddie Fowler Mrs Ann Jerome Mr Martin Hannant Circuit Meeting Secretary". Ms Ruth Lapworth (fo 15 September 2021) Mrs Adrienne Clark (Fn)m 14 September2022 to 28 Fel)ruary 2023) Circuit Treasurer. Mr Eddie Fowkr acted as the pnncipal offjcer overseeing the day to day financial management and accounting for the Circurt dunng the year. Independent examiner: Shaw Gibbs Ltd., Accountarrts & Business Advisers. 264 Ban￿ry Road, Oxford OX2 7DY Investment BankeTS: Central Finance Board of the Methodist Church; Trustees for Methi￿1st Church Purposes Bankers: CAF Bank Ltd, 25 Kings Hill Avenue. ￿"ngS Hill, West Malling, Kent HSBC Bank plc. 24 Market Square, Wrtney, Oxon. The Methodist Church. West Oxfordshire Circuit-TnJstees Re￿)rt for the year ended 31 August 2022 Introduction I began work in the Circuit on 1st September 2022 and have spent the time Sin￿ then leaming about the circuit and its peo￿e. It has b￿n to see churches butlding Confiden￿ again and retuming to life followtng the COV￿ pandemic, although it is clear that there are sorlle areas of lrfe and wotk which will not retum to pre-pandemtc revels. All churches kn consKJerabFe challenges spectfic to their thal context but more generally con￿mIng levels of income and peO￿e able and wrlling to C8Try Out essential funct￿nS. Nevertheless there is much go(Kl work tsking thrc>ughout the circurt as churches respond to the missional needs within their ￿MmUnrttes. This includes new work in resronse to n*"onal and intemational challenges such as the cost of living crisis. where churches have set up Wami Spaces and similar initiatives," and where churches are SUPWfknng the cause of vicljms of the in Ukraine. I do believe that the ctturch is in a liminal season and that this brings its own ChaI￿geS and anxieties. But I believe that as we seek the WFII of G(xl for our work and our churches. and as we continue to worship Him, we will continue to meet those detnands as we are led in new directy.ons and ￿ays of working. Rev Andrew P Biggs Superintendent Mintster Circuit Mission Statement The Circurt Mission Ststemenl is presentjy as fr)Ilows". To encourage. enable and equip local congregations to live out their discipleship of worship. service and mission in response to the gospel of God's love in Christ Following the creation of the West Oxfordshire Circuit. this statement is urTder review. Review of the year Activities: Pandemic- Church life and the work of the circurt has started to retum to prwndemic levels, aithough church-related activittes have become fewer in number and in many p*e5, attendance at worship is k)wer than in 2019. Some churthes. whilst hotding live worship. ak50 make their servKes available using Zt))m. live streaming or sound recording. Most required meeb.ngs ha¥e held live- sometimes making use of ZcK)m as well tor more distsncal memiET5- or duriThJ winter ts"mes. Many churches have conkn.nued to find their income substsntially reduced- esraty where they have been used to r￿l¥Ing fees for foom hire, etc., although most assessments were able to be met during the year. However, assIStan￿ was prowded from circust funds lo one church with a grant equNalent to one quarterfs assessment Change of ministets- 2021-22 sees the end of Rev Rose WestrKKJd'5 time in this circuit as she has been slationed as Superintendent of the Cambridge Circuit and we her well in her new appointrnent. Rose's departure means that a new Superintendent Minister has been stat￿ne0 in the West Oxfordshire Circuit, and we look forward to welcoming and working wrth Rev Andrew Biggs as he comes from Gbucesler to live among us and to work and wotship and Fdan with us for the future of this Cirojrt arKI rts churches and communities. Local Preachers- During the year one Local Preather ILP} completed his studies and examination by the LP Meeting, to become accredtted by tt)e Methodist Church. At the beginning of the year, a fonrEr LP in this Circurt started her training to become a Meth(xJist Presbyter. and during this year anolher of our LPS has been undertaking the candidating pr￿￿esS to enable him to start his trainmg lo also becorne a Presbyter in the Methodist Church. Examples of some of the bw.ng done in Circuit churches." Carterton Methodist Chureh has continued planning w(x* for thbs pioneeTing churth. arKI Working on ways of obtaining the funding required is ongoing. High Street Methodist Church Wrtney has iw? working *ryth Vty Fr￿ge. the Homeless Drop-in and other charities to help wlnwabje [￿Ople wthin the town, as *eli as In￿l¥ement with the chaplaincy {see below). Davenport Road Methodtst Church has extended the provision of forrtl boxes to the kcal community in the roads around the church during the Christmas penod. Children and Families Work- Our Children and Famibes vKKker has continued Mfyyking with several groups wth some of the circuit churches. Conb"nuing to work wilh the Worship Leader from Faringdon Unrted Church, Church on the Fami for children, parents and others has hekj successfully on several occash)ns. Both individuals conkn.nue to involved wrth 3Gene￿te- the nattonal weekend for young people organised by the Methodt5t Church in BimiirvJham. The Methodist Church. West Oxfordshire Circuit-Trustees Rewrt for the year ended 31 August 2022 NewAppointments- In addition to app(Mnl"rng a new Circurt Steward during the year, there have also been two paid Circuit ApFJointments made- the Circuf( hawng felt the need for some b"me. These a￿ a Circuit PAIAdminislrator and the Wttney Town Centre Chaplaincy Team Leader. Other- 1 At the beginning of 2022, the Circuit Leadership Team tsrrEd ¢Xrt a Mtssb)n Audrt around the Circurt ¢hurches. This will advise future planning within ttle Circutl. 2 During the yeaf, two churches Wh￿ had been closed fof sC￿e time *ere put on the maTket and both were sold shortly before the year-end (see ￿0W). Financial Perfomiance: In June 2022, Filkins Methodist Church was sold for a nel figure of £188.057. from which was deducted a levy of £51,223 to the Connexional Priorrty Fund of the Methodist Church ICPFI. Then, in August 2022, Chadlington Methodist Church vrds sold for a net figure of £925,141, with a CPF levy of £346.056. The above sources have been shown in the Statement of Finanaal Athrties as Extraordinary Items, since they do not fomi part of the usual ￿COrne of the Circuit Circurt expenditure of £361.038 includes £37,543 paMI out of the Circurt Model Trust Fund ICMTF), of which £12,392 was in grants rnade to one urcurt church towards their refutbishmen( and £23.910 as a transferred to the Northampton MethoKlist Distn"ct Advance Fund (DAF). The figure for sbpends and salarEs remains the single highest area of expense at approximately 500A of total costs, with the Distrrt assessment (including the levy for the Connèxtonal Meth¢)Jist Church Fund) being 19% and property costs at 14%. Total grants paid were 5% of circuit costs and the levy to the DAF represented 7%. This latter fund is for mission and ministy work within the District. and for propety grants related to such vth. The lewm is ￿lCUlated on the balance remaining in the CMTF at the year-end. Income trends.. Circurt income conkn.nues to be primartly drawn from the assessment pad by the circuit churches whth, this year totalled £219.588. representing 85% of the totsl incoming resour￿$. Income from renting out two of the manses not presenuy in use for circuit stsff helps b(x)st overall income by £35,452114% of totsl income). Interest teceived remains al 1% of income. Expenditure trends.. Salaries expenditure shows an increase of under 2% this year. as a result of a pension contribub.on adjustment in 202(>21 and the leaving of the part-time person. However. the salaries for 2021-22 did include those for the Ctrcurt PA and the Chap￿inCY Team Leader. ol whom stsrted work in May 2022. Expenditure on propert]"es decreased substantFally wtth the cKxupation of the refufbished Wesley Manse, Chipping Norton, with only one of the planned quinquennjal insFEcttons having been carried out during the year as a result of the reb"rement of the fomier quinquennEals surveyor. Fund balances." As at 31 August 2022 the net unrestricte(S current assets of the Circurt were £1.200k. of whieh £1,034k ￿a5 held wrthin the Circurt Model Trust Fund. fof use in carrysng out the longet tenn mission of the Circurt. The balan￿ of £166K whth is held in easity accessibje accounts, gives approximately 6 M￿th5 cover for expendlture. Plans for 2022123.- Circutt finan￿21 plans for the coming year have been prepared on the b8SlS that the will continue to be four full time minislers, one of whom works out ot the Circuf( for 1 day a week as a prison chaplain and one being a Pioneer Minister based in Carterton. as well as one part-time minister responsibilty for past¢yal matters at one church. There ￿11 also ciintinue to be the full time lay Chitdren and Families worker, wth tsvo part-time roles of Circuf( PAIAdministrator and Town Centre Chaplaincy Team Leader. The budget has b*n prepared on Ihe basis of a small reduction of 2% in the overall assessment. Aims and Organisation The Charrty's objective is to act a5 a Resour￿ providef for the Methodist Church wthÈn the area around South and West Oxfordshire. The Circurt Mission Statement appeats at the beginning of thi% Report. The purposes of the Methodist Church are and shall be deemed to have been sfftcE the Date of un￿n. The advan￿ment of- alThe Christian farth in accordance w¢th the d(thFnal standards and discipline of The Metlv)dist Church; blAny charitable purpose for the time Lw'NJ of any ConnexKJnal, District, CircuiL thal or other organisab.on of The Melhodist Church". c)Any charrtable puw for the time being i)f any socw or institU￿n subSKliary or ancillary to The Meth(xlist Church.. dlAny purpose for the time bw.ng of any charity being a charty subsidiary or ancillary to The Methodist Chufc The organisation and resourang of regular publ￿ acts of vA)T5hip to members of the church and non-￿mbets alike. The teaching of ChrL%tsnrty through sermons. cnurses and small groups. The Methodist Church. West Oxfordshire Circuit-Trustees Report forthe year ended 31 August 2022 The resourcing of pastoral w(N* inctuding visrting the sick and bereaved. Taking religious aSseMbl￿S in local schools. Promotion of Christkanity through the staging of events and servi￿. ProVis￿ft of chaplainLy *rvices to the local gjucational and other instttutions. Public Benefit We confirm the trusiee5 have had regard to the Charity C(ynmission's gu￿lan￿ on publi¢ L￿efft. Structure. Governance and ManagemenL' The goveming document br the arcuit is the Deed of Un￿n (19321 and Methodist Church Act119761. Detaiw govemancE arrangements are ouuined vthin the ConstFiutional Practice and Discipline of the Methodist Church {CPDI by order of the annual conferen￿. Day to day management of the circutt is undertaken by the Crcurt Leadership Team along wilh the Lctal Preachers meeting. Trustee Training: A range of guKlaTr￿ is PTThJuced by Methcxlist ConnexKJn to support the effective running of the circu¢ as well as"The Essentr"al Trust￿. and 'Safeguarding Guida[￿". whth are awailable on the Charity Commiss￿￿ website for Circuit meeting members to read as induth.on to their role as twslee& Trustees have also ￿￿en provided with the iJocument'Financial Governan￿ and 9x¥J praciice for Church and Circuit Trustees" produced by the Northampton Methodist Distn'cL Related Parties: The Circurt is part of the Northamptcffi Meihc4Yi5t Distr￿ and is alg) accountable to the Meth(MYist Conference. The folk)WTng Churches are linked to the Cir￿lt.. Methodist Churches in Witney (High St with Newland and Davenport Rd.), Bampton. Burford. Carterton. Charlbury, Chipping Norton aTKI Churchill. Farlngdon Untted Chutch IMethodisVURC LEPI and Melhodist Churches in Long Hanborough with Sutton, Minster Lovem. Stonesfiekl arKI Westcole. Risk Management: At present a risk management ststement is TH>t requi￿1 in view of the Circuivs level of income. However the Circuit Leadership will k￿p the srtualK)n UTxler review. supwrted by Exofessional afvI￿ whKh will be taken as required. Income and Expenditure is being monrtored in tot81 and is (x)mpared wrth the approved annual budget on a gular basis throughout the year ts) detect tr￿$ as part of the n5k rnan￿ernent prO￿S to avoid unforeseen calls on reserves. Safeguarding: Every person has a value and dtgnty whth comes dbrecty from the creation of humans in G(xl's own image and likeness. Christ￿nS see this pw)tent"ral as futfilled by God's r￿[eation of us in Christ. Among other things this implies a duty to value all p* as LEattng the tmage of God and therefore to protect them frorn har￿. The circu￿ ss cornmttted to the folh)wirrfJ priF￿1p4eS'. the care al￿ nurture of, and respecrful pastoral ministy with, all children, young people and adults safeguarding and protecting all children, young people and adults when tr*y afe vulnerabte establishing safe, caring communittes, which provKle a toving environment where there is informed Vigilan￿ as to the dangeTS of abuse. We will care)lllly select and tran all those any restKWkSitM"lty wthin the Church. in line wilh safer recnjrtment princw. Including the use of crimirol records disclosures and regthtion with the relevant vetting and barring schemes. We will respond wrthout delay to every safeguarding c￿Cern whth suggests that a thikl, young person or adutt may have been hamEd, working in partnership wrth the FK)lice and kcal authonty in any investigation. We will seek to WO￿ with anyone who has suffered abuse, developng wrth them an approprwle ministy of informed pastofal care. We will seek to challenge any abuse of p￿r. espeually by anyone in a positN)n of trust. Working with the Distrrt safegusrth.ng offi￿r, we wtll SUPTX)rt risk assessment of those who present a safeguarding risk within a church enwronment We will ensure appropriate pastoral care i8 offered and measures are taken to address Klentified risks induding referral lo Sts￿tOry agencies, suspension and the use of safeguarding contr￿ts. We will recognise and apply the restrictions to appoinknent down in Standing Order 010 of the Constrtutional Prthe and Dis(ipline of the met1￿￿￿t Church. TR4 The Methodist Church. West Oxfordshire Circuit-Tntstees Report for the year ended 31 August 2022 In all these princlples we will folkjw legIs￿l0n, gUKlan￿ *KI rec￿nISed good wactsce. The Wesl Oxfordshire Methodist Circuit commrts rtself to". 1. RESPOND without delay to any al￿atron or cause for con(*m that a th"kJ or vulnwable adult may have been hanned, whether in the Chtjrch or in artother context. It commts rtself to challenge the abuse of power of anyone in a poSit￿n ol trust It comrnrls ttself to ptDvKfing inf(Kmed pastiKal care to those in need, including the supervtsion of those who have committed criminal offences. 2. IMPLEMEIIT the Methodist Church Safeguarding P￿iey. Pr￿edureS and Guidance. govemment Wislation and guidance to achieve safe prarti￿ in the circuit arHI in the churches. 3. The PROVISION of supporL advmx and training for Lay ￿ ordaiTted people that will ensure pewle are dear and ￿nfidellt about their roles and reS￿n$1￿"11I[eS in safeguarding and protTN)ts"ng the welTrare of children and adults who may te vulnerabte. 4. AFFIRM and gwe thanks for the work of ttNise who are wtykers wrth chiklren and vulneratAe adults and acknowFe(Ige the shafed reSp￿￿1[[ty of us all for safeguarding chiklren. young peopte and vulnerable adults on our premises. Reserves Policy The Reserves Policy for the unrestricled reserves held in the Genera Fund 15 to hokl a minimum sum equivalent to bet￿￿en 3 and 6 months, average expenditure. This should be suffioent to meet any unforeseen item of major expendi￿re on manses and l or to be able to conb"nue. in the short tenn, funding planned activrties in the event of any inability to rnise the full Circutt Assessment from churches. a(fdib"on, funds held in the Circuit McKlel TTUSt Fund will trE applied fi)r the Work mi55K)n of the circu Statement of Trustees, Responsibilities The trustees are reswnsible for prepafing the Trust￿. annual feFt)rt and fin￿la1 statements in accordan with applicable law and Unrted kn"ngdom Acc(￿ntir￿j Standards (United lQ"ngdom Generally Accepted Accounting Practice). The law applicable to charÈÈies in England and Vvales rwuires the trustees to prepare financial staterTrenls for each finanaal year wttich give a true and fair wew of the slate of affairs of the chanty and of ihe incoming resources and application of resources of the charrty for that peiKMI. In preparing these statements. the trustees are required to" select suttable accounting pot￿leS and Ihen apply them consistenly., observe the methods and prtnciples in the Charities SORP 2015 IFRS102).' make judgements and estimates that are reasonable and PTudent'. follow applicable a(xountsng standards" prepare the financial statements on the going con1￿M basts unless it is mappropriate to presume that the chanty wll corrtinue in operab"on. The trustees are responsible for keeping proper a(xounting records that disdose wrlh reasonable accuracy at any time the financial position of the chartty and enable them to ensure that the financÉal ststements comply with the charib.es Act 2011, the Chartty (Accounts and RepM)rtsl ReguL4tions 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the cha¥ty and hen￿ for trdking reasonable steps for the prevenb.on and deteCt￿n of fraud and other wregularib"es. Independent Examiner Following the year-end, our Independent Examiner. Emma Hilliard resHJngJ. We a￿ most grateful for the many years work by her in connection wrth our ac£ounts. Shaw Gibbs Ltd, Accountants and Business Advisers have been app￿nted in her Pla￿ and we record our thanks to them for a￿pts'ng the appointment Declaration The Trustee5' ReFQrt and the Financ￿ Slatements were approved by the Trustees on 21 March 2023. Signed." Andr Biggs lan Cotton Eddie owler Superintendent Minister Senior cl￿11 Steward Circuit Steward & Treasurer The Methodist Church. West OxfordshTre Qrcuit-TnJstees RerM)rt for the year ended 31 A￿uSt 2022 West Oxfordshire Methodist Circuit- 2021-22 - ndix A CIRCUIT MEETING MEMBERSHIP USTEES 1. Circuit Leadernhi Team MINISTERS Rev Rose Westw0c￿ (to 31AWY2) Rev Andrew Biggs (1￿￿￿ CVrtVf22J Rev Fred Ireland Rev Jason Cooke Rev lan WO￿11 CIRCUIT STEWARDS Mr lan Cotton (SenM)T GS) Mrs Rosemary BrFtton (& IAr Eddie Fowkn (& T￿SUre￿ Mr Martfft Hannanl Mrs Ann Jemme 2. Other Circuit A ointments FORMER VICE PRESIDENT OF CONFERENCE Mrs Stella Brislow CIRCU￿ MEETING SECRETARY Ms Ruth Lapworth (to 0111321) LOCAL PREACHERS & WORSHIP LEADERS Rev Stephen Bywater (Jth￿ Secy) Mrs Jenny Bywater (Joint Sec￿} Mr Andrew Maisey (rtko PASTORAL LAYWORKERS Mrs Anne Crawford Mrs Dawn Haley LEGAL ADVISER MrAndrew Pote 3. Church Re resentatives BAMPTON MEfHOtMST CHURCH Mr Sinclair Duff (to 17104r22J Mr Bob Jones (deceased Iihor22) Mr Matthew Wareham CARTERTON MEfHODIST CHURCH Mr Kad Williams Mr Mike Hawkins Mrs Jan HI￿On OiW21J CHARLBURY METHODIST CHURCH MTS Sheila Famier Mrs Gill GTason Mr Dawd Woodcock CHIPPING NORTON METHODIST CHURCH Mr Doug Paxton (to 31AW22 & ffom 14AW22J Mr Mich￿[ Fletcher {d￿ased 17A2r221 DAVENPORT RD, wrrNEY IIETHODIST CHURCH Mrs Jud5th Bucknall Mrs He￿n Adams Mr lain Gray (fo 31nLY21) Mrs Jacky Milner Mr Roy Townsend CHURCHILL MEfHODIST CHURCH Mrs Lesley SLtherland Miss Jackie Palmer HIGH STREET, WIThEY m￿HoDIST CHURCH Mr David Limmer Mr lan Prin Mrs Ann Worrall Mr Bill Seedhouse Mr Ketth Crawford Mrs Mary Jordan Mr Dave R￿hardsOn Miss Sandra Robinson FARINGDON UNITED CHURCH Mrs T[2￿Y LiddLard (10 27m7rI2) Ms Liz Kilpatitk 2W7f22) LONG HANBOROUGH METHODIST CHURCH Mrs Gill Breakspear Mr Nigel James Mr Andy Gower Mr Chas Simpkins Mrs valer￿ Tee MINSTER LOVELL AIETrIODIST CHURCH Mi55 Wendy AtkJ'n50 Mrs Mary Willis Mr Davfjd Haley STONESFIELD METHODIST CHURCH Mrs Kalhleen Albert Mrs Mary Buckingham (10 3LXW22J Miss Walton (fit¥n OIK17r22J y￿sTcoTE AIETHODIST CHURCH Mr Tony Gibson Mrs Helen Blrght (to 17n￿) Mr John Benttey (fft¥D 17n7r2yJ The Methodist Church. West Oxfordshire Circuit-Trustees Report for the year ended 31 August 2022 THE METHODIST CHURCH, WEST OXFORDSHIRE CIRCUIT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MEfHODIST CHURCH, WEST OXFORDSHIRE CIRCUIT I report to the Trustees on my examination of the financial statements of The Methodist Church, West Oxfordshire Circuit (the Charity) for the year erKled 31 AUg￿$t 2022. Responsibilities and basis of report As the Twstees of the Chanty you are responsible for the preparation of the financial statements in accordan￿ with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Chartls financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under sedion 145{5){b> of the 2011 Ad. Independent exami￿￿$ statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualffied to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examinalion giving 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 2011 Act", or 2. the financial statements do not accord with those records,. or 3. the financial statements do not comply with the applicable requirements con￿mIng the foryn and content of accounts set out in the ChafitEs (Accounts and Reports) Regulations 2008 other than any wuirement that ts arxounts give a true and fair view whith rs not a matter considered as part of an independent examination. I have no cOn￿mS and have come across no other matters in connection with the eXam1r￿tion to which attention should te drawn in this rep(Yt in order to enable a protEr understanding of the financial statements to be reached. Samantha Daniels FCA for and on behalf of Shaw Gibbs Limited 264 Banbury Road Oxford Oxfordshire OX2 7DY 23 Jun 2023 Dated.. IERI ooooo o o ts) O ( ai ID V r4 ry rl O m o fflo 00￿00 O CJ r¥ O (n %0 ai ry ry ¢n t If) O m*0 r4 th ty- o ro r4 r4 ro O ai 4D It) io (Th o C> ey VO * O ¢Ji pi fxj s ro o r4 0 *sD IO Lfj 7J Q V iy The Methodist Church. West Oxfordshire Grcuit Notes to the Accounts for the year ending 31 August 2022 Note I: Basis of Basis of accounting These financial sthtements have been p￿pared under the historical cost Cof7vention with items recognised at historical cost or transaction value vniess otherwise stated in the relevant notdsl tothe5e accounts. The financlal statements have been prepared in accordan￿ with: the 5totementof Recommended Proctice." Accounting ond Reportiry by Charities (SORPJ applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Stsndard applicable in the UK and Repvblic of Ireland (FRS 1021. and wtth the Financial Reporting Standard applicable in the United fingdom and RepublFC of I￿land IFRS 1021 and with the Charities Act 2011. Publit benefit entity The West Oxfordshire Methodbst fjruFtt meets the definithjn of • public benefit entity under FRS 102. Funds The fLEnds held con5titute.' General Funds hÈld for any purpose of the CircuiL wh￿h are Unrestricted_ The Circubt Model Trust Fund. which has wide purposes defined in Standing Orders and is categorised as Unrestricted. Restricted Funds. which a￿ held for a narrower purpose. Endowment Funds, which consist of Expendable Endowments where capital is available with restrictions. and Permanent Endowments where capttal is unavailable. Going concern Based on the monetary assets and human r￿urCeS available at 31 Aieust 2022, the tn￿tee$ believe that the Circuit is a going concern. Note 2: Accountin Policies Content The financial rnformation presented 15 relevant. reliable. comparable and complete. Where estimates are used theseare basedonexpeIien￿. researchand judgement. Theaccountsareexpressed in £Sterlin& roundedto the nearest pound. Consolidation The Circuit has denomin3tional regulatory oNErsight in ￿spect of the work of the Churches within the fjrcuit but has no legal or operational control of those Churches and theirg(Neming bodies except in extreme arcumstances. For this rea50n. the financial statements of Chithes within the Orcuit are not consolidated into these financFal statement5. Income rÈtO8nitioTr Income rs brought into account when there rs entitlement afrfl the amount is rdiabty measurable OfKe it is more likely than not that the economic benefit of the income will be forthcomin& In accordan￿ with the Charrties SORP IFRS 1021. the time of voknnteers t5 not recognised. Expefidrture This is recognised when a liability is incurred. or a constrnctive obli8ation arises, Whe￿ the amount is reliabty measurable and it is considered more likely than not that the￿ will be an ouffiow of economic ￿nefit. 25 Grants Grants made by the Circuit from its own funds are recognised in fvll at the time of abyeement to make a grant without performance conditions or as and when the Circuit a￿pts that there is a legal or operational obligation to make the payment if it is subject to perfom)ance condrtions. VAT Since the Circuit is not VAT registered. all input VAT is charged with the exFenses to which it refers. FS3 The Methodist Churth. West Oxfordshire Circuit Notes to the Accounts for the year ending 31 August 21Y22 Tangible fixed assets Trustees for Methodist Church Pu[￿se$ fFMCPI is the legdl owner and CUSt(￿lan Trustee of all Methodist Model Trust property. Tangibte t￿ed htsets are (Apitali5ed rf they (an be used foT more than one year, and individual cost at least £l.000. The freehold ￿sidential property is shown in the accounts at historical cost for three properties acquired between 2012 and 2015, and at deemed historical cost rep￿SentIng the remaining propertie5' gross carrying value as at the dates given in Note 14, being those propertte5' Insuran￿ reTrn5tatement value at those dates. No depreciation is provided because the trnstees consklerthe current residual value of all the properties in theÈr present conditron to be not less than the value5 shown and. in the absence of any evidence of impairment. any depreciation provision for the buildings component of the property would be imm*erial. The Ctrcuit has made use of the deemèd cost option fortwo properties on transitioning to FRS102. 35 Outlined above. The Circuit's itNe5tments a￿ in rnonetary a55ets dass1f￿d as basic financia5 instwments under FR5102 and are hejd by TMCP as custodian trustees. The valuations, at Ma￿et value. are those provided tyTMCP. The unrealised gain5 arising on investments at the end of the year are shown in the SOFA and in Note 15 below. Receivables Payables: Bank artd Cash (Basic Finanoal InStr￿￿eftts) Debtors are stated at the amounts owed to or prepaid by the Circuit. Creditors are initialty recognised at settlement amount after any trade discovnts. where nomwl credit tern￿ aKwty, or the amount to the Circult. Subsequently creditor5 that are current ]￿bIlitIeS are measured at the £ash or othei consideratÈon expected to be paid. The liquid funds of bank balances and deposit fvnd balances are shown at their reali5able values. 2.10 Loans a$ 8Jsic ￿nancIal Instruments Where concessionary loans {i.e. free of interest) are made to lor r￿1Ved byl the Circuit to further its charitable purposes, and are repayable after more than one yèar. they are initialty recognisèd at the amount pa￿ lor receivedl. wrth the carrying value adjust￿ in subsequent yeaTS to reflect repayments and any accrued interest, adjusted for any impairnient. if nece55ary_ 2.11 Methodist Connexional Funds The Methodist Church Connexion ra￿5 wessments against Districts and these are appOrt￿ned quarterly to their Circuits. In addition. the D￿rICE also apmions tts own expenses across the Circuits. The Circutts raise assessments against their Churches in order to recover the charges by their DistriLt. together with other Circuit Costs. 2.12 Reserves PofKy The trustees have adopted a polrcy for the unrestricted reserves hekl the General Fund which Is to hold a minimum sum equivalent to between 3 and 6 months, averdge expenditurè. Thi5 should be sufficient to meet any unforeseen item of major ex￿ndIt￿re on manses and / orto be able to continue, in the short terni, fundtng planned artivities in the event of any inability to raise the full Ctrcuit Assessment from churches. In addition. funds held in the Circuit Model Trusl Fund will be appl￿d forthe work and miSs￿n of the orcuEt. 2.13 Endowment Fund5 Where the Circuit hokls money that may not be spent and must be retained la5 capital) to generate an income the money or a55ets to be ￿taEned are dassFfted as Endowment Fund. The capital will be shown in the balance sheet in the column for endowfnent funds. The irKome may be restriLted or unrestrirted depending upon the terffl5 of the endowment. 2.14 Minister< manse costs The Circuit is required to provide accommodation for each min¥ster in the Circuit and their families and this is seen as a benefit to the Circuit. Ministers are expected to occupy the manse provided lor them. The Crr¢utt bears the cost of repairs. maintenance. buildings insurance, Council Tax and water charges. These figures are not separately disclosed as beneffts-in-kind for ministers as HMRC d¢￿ not seek to lax tl*se r￿eipts in the hand5 of mini5tev5. Note 3: G105sa of temis CFB: Central Finance Board of the Methodist Church manages a Common Deposit Fund and a serie5 of pooled nvestment funds for Methodist enttties in Great Britsin and provrdes investment advi￿ to those entittes Churth: a group of mÈmbeT5 from fewer than 10 to In0￿ than 3(K) Circuit". a grouping of MethLNJist Churches usualty in a defined area each other. typically between 10 and 30 FS4 The Methodist Churth. West Oxfordshire Circuit Notes to the A(c￿Trts for the year ending 31 August 2022 Circuit Meeting: The trustees of the CwcuiL mort of whom are appointed bytheir local Churches and others by virtue of a role they undertake tor the Circuit andlor their kxal Churches CLT {Qrcuit Leadership Team1= A group Icomprisrng mostty. txrt not exclusivetyl of fjrcuit trustees responsible for the day to day administration and policy formulation of the fjrcuit. Generalty the CLT comprise5 the Presbyters and Deacon5 Stationed wtthin the fjFcutL Circuit Stewards and CLTSecretary IwlKtr is not a tmsteel CMTF: Circuit Model Trust Fund Connexion: The Methodist Church in GB which iAdudes the Head 0￿e at Methodist Church House, all Methodist Districts. Circutts and Churches in G￿at Britain Connexional Funds: The Desrgnated andloi Restricted Funds held and administered lry the Connexion in furtherance of its Charitable and mission objetttve5. District: a group of contiguous Circuits, usualty between 15 and 30 DAF.- Disttirt Advance Fund FRS: Financial Reporting Standard HMRC= His Majesty's Revenue and Customs Lay Employee5: Personnel employed by the fjrcuit on generdlty accepted commercial employment terms MCA.. Methodist Chapel Aid Ltd riiakes loans to Christian Churc1￿ & holds depos5ts for indÉviduals. churches, etc. MMPS: Methodist Mini%ters' Pen5i(xt Scheme Ministers lindudingSupeTintendentl: Probationer or Ordained Methodist Presbyters and/or DÈacons who have pastoral and administrative responsibility forthe chUrd￿ and communities wtthÉn the Circuit SOFA: state￿Trt of Financial Activities SORP: Ststement of Recommended Practice ThICP: Trustees for Methodist Church Purposes. the legal owner and Custodian Trustee of all Methodist Model Trust propety, including Legacies. Endowments and Actymulated Funds Note 4: Donations Grants and Le ies received The only incofne under this heading related to a grant la￿ year f￿1ved from the Northampton method￿ District towards the costs of an employee appointed for the year under YouT¥ Leaders Stheme operated by the District. General Fund 2021-22 202fv21 £0 Note 5: Charttsble activities. ASses￿nents on Churcl The Circuit is comprised of 13 churches12020-21- 131 and each is assessed for a contribution to meet the overall net costs of the Circuit. In making its asses5fnent, budgeted income fmm itwe5tments and confimied grants are taken into account. As far as possible, the Circuit aims to covèr all its net core costs froTll the assessment. The annual assessments for eath church induded in these èccounts were as follow5: General Fund 2021.22 202(F21 Bampton 8,224 8,224 Burford 8312 8.312 Carterton 11,470 11.470 Chadbury 6.710 6,710 Chipping Norton 26.5 26,51Kl ChurchÉll Davenport Road Faringdon High StreetlNewland Long Hanboroughlsutton Minster Lovell Stonesfield Westcote Totsl 17,272 14,440 17,272 14.440 92.070 20.3 4,360 4.842 20.3Tr) 4.3 £2￿588 £224.AXI FS5 The Methodist Churth. West Oxfordshire Circuit Notes to the Accounts for the year ending 31 August 2022 Note 6: Se rate material iterns erf incorne The figure shown represents the ￿nt re￿iVed during the year in respect of of our manses. The rent received from the two manses is used to further the mission of the Circuit. especially in the light of the pioneering work being undertaken in Carterton. where the Cirtuit ha5 rented a local house to enable a Pioneer Minister to be involved. Note 7: Grants and donati0ryS During the year, grants and donations were made 35 follows: 2021-22 202fy21 High St. Methodist Church. Witney - iowords the cost of theirrefurt)ishment Chipping Norton Methodist Church - towards the cost of re￿￿lShI￿g dEir ￿ndOwS&l￿n￿g A5SiStance to I church following cash shortages due to ￿ndeMIC Mtscellaneou5 donation Sutton Methodist Church-Fee5 4 voluotion ￿ fvture ofproperty Stonesfield MethodÈ5t Church- Costofpropertyinvetyations Carterton Methodst Church- Feosibilitystudy & Pioneercosts CURVE (o projert ol thefom¥erChipping Norton & Stow Circuit) The Fund for the Support of Presbyters & Deacons lann. donotionl The Methodt5t FUIKI for Property lonn. donotion) Total 12.392 7,868 50,750 1.678 27.096 4,514 7.518 9.173 7,5 51x1 5(L) £115 419 £￿540 Note 8: Salaries and associated c05ts Salaries (Stipends) Stipends were paid to 5 Mini5ters1202Ck21- 51. includtng one part-time As5(Kiate Minister. Salaries are paid to lay #aff. which include the Circurt ChFldren & Families Worker and, fromjune 2022 a Circuit Administrator and a Town Centre Chaplain. IKJth of whom a￿ ernployed on a part-time basis. In addition a charge w85 made by the Methodist Payroll BU￿aU for use of the b¥Jreau by the Circuit for lay staff and last year. The costs of these are shown below_ General Fund Sti￿nds & salaries National Insurance Contrib￿lon5 Pension Fund contributions Istipendsl Apprellticeship Levies Lay employees, Pension Fund costs Methodist Payroll Bureau Total 2021-22 139,255 11.750 26,796 7tx) 1.518 20Tr21 135,785 11.238 28,209 677 1,317 £177.706 At Year-end- Number of employees Number if ministers receNing a stipend No employees receNed employee benefrt5 of more than £fA).(KXJ. There is no acctual foi holiday pay as it is immaterial- the holiday year ends on 31 Augu￿. All The￿be[S of staff are paid at or above the living wage. Pensions Most ordained pre5byter5 arld deacons a￿ members of the Meth(xltst Mint5ters' Pension kheme IMMPS). This Ès a defined benefft scheme. The Supreme Court hekl in 2014 that Methodist fflinisters Iwhich temi indudes presbyters and deaconsl are not employees of the Church. Forsimplicity, IxMTever. when dealing with National Insurance Contributrons and pension contributions, the temis'empknyer, and 'employee' are used as they would be in an employing body. The Connexion accounts for the pension Scheme and shows the figures in the annLS31 Methodist Church Great Britain accounts. The MMPS 15 in defFcit but a plan for removal of the deficrt is pre5entty being implemerited. A workplace pension with The People's Pension is provmled for lay employ￿. F56 The Methodist Churth. West Oxfordshire Grcuit Not￿ to the ACc￿nts for the year ending 31 August 2022 Cost of Superintendent. Ministers arnl Tru5tee5 The Superintendent of the ￿rcUIt. the other Ministers and the femaining memiErs of the CLT are considered as Key Management Personnel. The Superintendent chairs meetirtg5 of the CLT and Circuit Meetings. The rnefflL￿rS of the Circuit Meeting are the trustees of the Circuit_ The stiFends. employer's NIC and ernployer's pension contributions and other expenses of the Minister5 of the Circutt are paid by the CircuiL The manses are provided by the Circuit and the Circurt maintains the property. The value of the Council Tax and water charges paid by the Circuit is not disclosed here as HMRC does not regard thts as a beneftt-in-kind in the hands of the mFnister. pa￿erts totrustees Apart from the 4 Ministers who are Trustees. no other Trustee was in r￿lpt of any paymentfor work undertaken on behatf of the Circuit. although ￿rtalfi travelling and admintstration costs were reFmbur5ed in particular cases. 2021-22 202(L21 Number of trustees who We￿ paid expenses Expense paymenTS primatity relate to reirnbuT5ementfor tTavel, ststionery, tekphone and computing costs. Total amount paid £7,887 £6.333 Note 9: Pro Costs lal Members of the Ctr¢uit Meeting act as ManagFng Trustees for fNe manses. three of which a￿ occupied bv ministers stationed in the Circuit. In addttion to bnsurance. repairs and maintenante to all the manses. the Circuit is responsible for the payment of Council Tax and Water charges for those occupied by the miftister5. othertwo manses continue to be held dependant on future reouirements Isee Note 6 atrmwel. In addition. the Circuit has responsibilty forthe upkeep of two d05ed thurch buildings until they are abte to be disposed of. Ibl The cost of ongoing maintenance and improvements to all manses is funded through a designated'manses Upkeep Fund~ and a transfer of £12,0￿ p.a. is made to ths from the General Fund Iyear-end balan￿ £18,293). The level of transfer is kept under review by the trustees. Icl The Circuit arranges and pays fOrfve-year￿ (Quinquenniall buildi￿ suTheys and Elertrical Installation Condition Rewrts IEICRS) to be LEndertaken on behalf of all the Cir(wit churches as well as for the manses. All work required on the churches by these surveys i% the responsibility of each Church Council. A similar fund to that mentioned in Ibl above is maintained forthe costs of the Qu4nquennial sutvefi. with £S.IMJ transferred this year {Yeèr-end balance £7.5401. 2021-22 17.729 16,160 2021k21 17.528 24,819 54,538 Insurance. Council Tax, Water & Gas service la) Maintenance of Manses Chipping Norton Manse refurbishment Quinquennial surveys Icl Letting costs ladjustmentl lal Closed churches costs lal Total lal, Ibl 1.067 4,327 10.553 £49J36 6.812 £114W9 Note 10: Office ex Telepholle & broadband Zoom costs Printin& postage & stationery Total 2021-22 2,033 ICL) 272 405 2021>21 1.642 364 £2354 Note 11: District Assessment & In C0￿mOn with other circuits in the Districi. the fjrcuit pays an annual assessment to the Northamplon District of the Methodist Church. The calculation of the assessment is based on the number of Methodist Ministers within each csrcuit, together with the unrestricted cash balances held by each fjrcuit in bank. CFB and CMTF accoun The L￿ is calculated on a sliding scale per￿ntage of the balan￿ of the fjTaJiYs CMTF at 31 August in the previous accounting year. 2021-22 2020-21 Gen. Fund cIKr Fund Tot Gernfund ￿F￿nd Totol 67,232 67,232 66.189 66,189 23,910 23.910 8,372 8.372 £23.910 £91,142 £66U9 £8372 £74.561 District Assessment District Levy Total £67.232 The Methodist Churth. West Oxfordshire ￿rCuit Notes to the Accounts for the year endlng 31 August 2022 Note IZ: Other O 6enen Fund Fund Funds 2021-22 Fund5 Travel expenses 5,976 Preaching fees 2,050 rr costs 736 Conference fees 340 Resour 964 Removal costs 4,356 Independent examination 2,4(M) Miscellaneous 379 Total £17.201 5.976 2.050 736 340 964 4.356 1.241 £1,241 72 102 É102 1,794 £18,616 I￿21 Tr17vel expenses Preochingfres ITcosts Resources Tmining Removolcosts Independent examinotion Miscellaneous Total 3.057 1.2(Ll 747 943 20 4,213 3,057 1,2(Kl 747 943 20 4.213 262 £10.442 55 71 £n 1.292 IA72 Note 13." Extraordina Item5 This item relates to the following- l. The disposaLs during the year of Chadliiwon and Filkins Methodist Churthes. Upon the sale taking place, the net sale proceed5 were transferred into the Circuit Model T￿￿t (Cmn Fund. with the levy for the Connexional Priority Fund ICPFI being withdrawn from that fund by TMCP. 2. The previous yearfs figures indude5 the transfer ofa proportion of the assets held by the former Chipping Norton and Stow Circuit when three of their churches became part of thi5 Qrcuit on I September 2020. The figures relating to the above are as follows: 2021-22 202¢F21 Generol Fund Cmr Fund 275,381 Total Fund Net sale proceeds of North Leeh Methodist Church Net sale pr(Keeds of Chadlington MethLNli5t thurth Net sale prC￿eedS of FiSkins Methodist Church 275.381 925.141 1.113,198 Less: CPF Levies {2021-22- £346.056 + £51223 715,919 185,229 185,229 Transfers from Chipping Norton and Stow fjrcvit {CN&S Ct): Value Ifor insurance purkM)ses} of Wesley Manse Transferred from CFB Transferred from bank current account 418.5 73.699 496,459 235 167 235167 £424396 £496 459 £916 855 Transferred from CN&S Ct TMCP- Model Trust Fund Total Extra5t or ￿luatIon Balance brought forward Addition in year (see Note 131- Wesley Manse Balance carried forward - being Net book value 3)21-22 2021F21 1.923,628 1.505.038 418,590 £4923.628 ÉL923.628 Other Fixed Assets- During the two years Cove￿ by these accounts, no other fExed assets arÈ-or have been held by the Circuit. In addition, there have tr￿n no additions. revaluations. disposab ortronsfers of fued assets during the same period. Depreciation- No depreciation ts provided on freehold properties- see Note 2.7 Manse propertie5 Hurdeswell. Long HanbOrough-￿l￿e 31418-2015 Cherry Tree Wèy. Witftey Buswell Meadow. Wttney Berryfield Way, Carterton Wesley Manse, Chipping Norton-wdkEOI-tP>2020 271.4(K) 271.4LKI 447.237 339,504 446,897 418,5 418.S9) £L233,638 £689.990 EI323.628 447,237 339.504 446,897 Nots 15: Flxed A55et Inve5tments- all EndOW￿nt funds The funds that 5UPI)ort the General Fund and the Manses Fund are held lry TMCP in Trustees Interest Funds on which interest Fs credited to the accounts each month. as well as a CFB Maftaged Mixed Fund and a CFB Managed Fixed Interest Fund. These are regarded as medium and long temi Ènvestments Isee also Note 18 betowl. As Stated in Note 14 (ab￿e}, TMCP is the Wl owner Custodian Trustee of all Methodist MIMlel Trust property. which includes Legacies, Endowments and Accumulated Funds. Analysis of investment movements Securtties not listed on a recognised StcKk Exchange Other investments 2022 1,979 2021 2.184 £L979 £1184 Change in 5nT•estment value5 Carrying Imarketl value at beginning of year Net gainlllossl on revaluation Carrying Imarketl value at end of year (No addttion5 or disposals) The Funds and end of year valuations summarised above are a5 follows= arrent 6 CFB Managed Mixed Fund- ValuatI￿- 125 unbts @ £5.2511£5.EA)31 odel Trrrt Beqvests l- CFB Managed Mixed Fund- Valuation- 125 units @ £5.2511£5.603) CFB Managed Fxd Int Fund- Valuation - 368 units @ £1.8111£2.1281 2.184 12051 £L979 1.982 202 £2.184 2021 656 656 667 £¥979 7CX) Note 16: Debtors Debtors and prepayments are all in connection with the Unrestricred General Fund. and a summèry follow5: 2022 Z021 55.838 33.604 Debtors Stipends, pension5. Nl Utilities Other prepayments 12,887 3,914 244 12,282 165 £50.859 Total F59 The Methodist Churth. West Oxfordshire Circuit Notes to the Acc￿T￿ for the year ending 31 Aiwist 2022 Note 17: Loans to Churthes Loans to churche5 Within the ￿rcUIt may be granted by the trustees for a variety of wrposes. Funds for larger loans are Sourced from the CWF and are interest free. The a55eL however. 15 (3TTied in the General Fund. The agreed repayment date Irf sÈtl is shown in the table be￿w. Church Rep4idl 8alance cleared carried in year forward 4,906 Burford Totals Feb 2022 onwards open open £0 £4.906 Note 18: Imiestments with TMCP The following funds are hekl by TMCP in Trustees Interest Funds on which interest 15 credited to the accounts each month (see also Note 15 at￿Ve1. Unrestrirted CMT Fund Totsl Funds 2022 Funds Circuit m(￿e1 Trust Fund Toogood Memorial Fund Pocock Bequest Willmer Bequest Model Trust Bequests I Model Trust Bequests 2 Total L033.848 1,033,848 2,126 10,0 2,126 iO.LKMJ 31,059 2.381 £33.440 31.059 2,381 £U179.914 £iJ)34848 £12.626 2021 Circuit Model Trust Fund Toogood Memorial Fund Pocock Bequest Willmer Bequest Model Trust Bequests I Model Trust Wuests 2 Total 435.472 435.472 2,122 lo.￿1 2.122 lo,￿1 31.063 2,379 31,￿3 2.379 E481537 £415.472 £￿.623 Note 19: Cash on De Unrestricted General Fund Total Funds 2￿22 FUT CFB Deposit account Early Legacy I Early Legacy 2 Total 58.419 58.419 250 250 £58.419 £59.269 2021 CF8 Deposit occount MCA Deposit occounts." Early Legocy I Eorly Legory2 Totol 116.014 116.014 250 250 £IIA014 FSIO The Methodist Church. West Oxfordshire Circuit Notes to the Atcounts for the ending 31 August 2022 Note 20: Cash at bank and in hand General Fund Fund5 HSBC 8ank, Witney General Fund Local Preachers Fund CAF Bank 40.074 40.074 1,328 46,442 1.328 46.442 E86516 £1,328 2021 HSBC Bonk Witney Generol Fund Locol preache￿ Fund Total 40.922 40.922 1.364 £42.286 1.364 £iXJ4 £40922 Note 21: Creditiws ThFS consists of creditors. accruaEs and income receÉved in advance. It is experted that all sums accrned at 31 August 2022 will be pasd during the year to 31 August 2023. The income receNed in advance includes assessments from churches which relate to the first three months of the year 2022-23. The figU￿S included he￿ are all dealt with in the General Unrestricted Fund. 2021 2022 lficome rn Advance Assessments in advan Reftt in advance Creditors and Accruals Minister5, and other expÈnses Property costs Utilities Independent examinètion Other creditors Total 27,988 1.452 39,564 2,816 19.025 419 1,598 12530 367 2,870 £S6.970 £57.143 Note 22: Ca itsl Commitments and Contin ent Liabilittes At 31 August 2022 the Circuit had no capital commitments. No contingent liabilitie5 were identified at 31 August 2022. However, the Circuit Meeting has agreed grants to High Street Wrtney Methodist Church. of which £25,748 is still to be paid from the Circuit Model Trust Fund over the next year. IFI addition. the Circuit Meeting Én September 2021 has agreed a grant of up to £250.[￿ fof Qpital work on Carterton Methodist Church where pioneer work is being undertaken- ako to be paÈd from the CÈrcuit Model Tnjst Fund. Note 23: UTrre5tricted Funds 23.1 General Fund Balance at 31 August The purpose of the fund is for use at the discretion of the trustees in the furtherance of the general objectives of the Circuit and which have not been designated for Other ptjrposes. About 92%12021- 93%) of this fund is held as freehold properttes, being manses for ministets in the fjrcuit. The Circuit Meeting is aware that any grant ap￿￿ationS must demonstrate public benefit. 2022 2021 £2 074280 FSII The Methodist Church. West Oxfordshire Circuit Notes to the Accounts for the year enrfin8 31 August 2022 23.2 fjrcuit Model TTUSt Fund Balan￿ at 31 August The purpose of the fvnd is for use at the distretion of the t￿￿ee5 in the furtherance of the general objectives ot the Circuit. Its main source of income is tegacies and formulaicalty determifted contributions from the sale of manses and church buildings in the Circuit. Although ths is technically an Unrestrttted Fund under the control of the fjrcutt Meetin& prior approval may still be required from the DKstrict to Util￿ these fund5. MethodFSt Standing Orders 930, 931 and 917121 are applicable. Note 24: Restricted and Endowment Funds 2022 2021 Restricted Funds Balance at 31 August £13,954 £13.987 Endowment Funds Balan￿ at 31 August £36269 £36.476 The restricted and endowment funds exist to support the causes listed below. All the funds, a55ets lexcept those restricted funds which are managed kxally and those defM)sits held with MCAI are managed by TMCP and the net income (after charges) is paid dirert to the admÈnistrators of the fund. Each fund listed below is categorised according to the following key-. IEEI - IExpendable Endowmentl Gipiial available wtth restriction5 IPE}- IPerm3nent Endowment} Capital unavailable IRLI _ {Locally Restrirted} Capital and interest available Local Prearhers Fund IRLI-Thi5 is hekl in the Cjrcuit HSBC current account and is restricted to provide support for the work of the Circutt leaders of Worship and Preachers Meeting. Toogood Memorial IEE)- Both caprtal and interest are available for use by the Cir(wit for Educational Purp)ses. J Pocock Bequest IPE}-The interest is used to support Circuit Manses. Willmer Bequest IEEI - The rnterest from this fvnd is available for general CITCUit purposes without restriction. The capital 15 ovailable with restrictions. A request was made that th￿ bequest be treated as a Permanent Endowment. However. thi5 is not a legal direction, $0 the Trust ￿ fulty avaslable to the Circuit. J V EaTly Legacy I IRL)-This is held in a deposit account with mc￿ The interest is used to support Circuit Manses. J V Early Legacy 21RLI-This is held in 3 deposit account wrth mc￿ The interest 55 used for the general work of the £L033W8 £435.472 Model Trust Bequests I IRL)-The income from thÈs fund is used to support Circuit Manses. Mr & Mr5 ETarrent Gift IPE)- The income on thi5 is availabk for the genetal purposes of the Cirojit, and is allocated to 51XPPOrt Circuit Manses_ Model Trust Bequests Z (RL}-The interest from this fund is used for the genernl work of the ￿TC￿lt. Note 25: Summa of Fund Movements 8alofKÈ FurKI 0110912021 Itèms Lt￿e$ 3110812022 Geneial 2,074 C+rcur( Model TTUSÈ 435,472 Tot31 Unrestricted Fund5 1509.75Z Restrirted Fuhds: local Preacher5 Fund Toogood hAerno¥ial J Pocock Bequest R N Willmer Bequest Totsl RÉstritted Funds Endowmerrt Fu*KI5: J V Early LegaEV I J V Early Legary 2 Model Trust Beqtjests I Mr & Mrs Far￿nt Gift Model Trust Beqvests 2 Total Endowrnent FU￿15 256.303 13233211 137.5431 1583(B iafAJ*641 82.120 18llJX)I izo 2.089,382 1,033.848 3,123230 715.919 715919 1.364 2.122 io,c#)J 5(%) 1361 161 1281 121 21 1,328 2.126 i0.￿x) 500 54 io 47 1201 250 121 1811 32.547 701 2.378 36B76 169 17 li 1931 121 171 32,382 657 2,380 36,269 1441 T al of all fuDd5 25f4)215 25&56L 136WI 71S919 3.InN53 FS12 The Methodist Church, West Oxfordshire Circuit Notes to the Accounts for the year ending 31 August 2022 Fund OU09/2020 Items Generol Circuit Model Trust 162L137 217,440 248.965 (371.362J 1,469 {134.&33J 4134 14W951 3.074.280 435.472 Z509.752 179,CWJ 420.396 9J6J55 Locol preoche￿ Fund Tuogoodmemoritsl JPocock Bequest R N Willmer 8equest TotolRestri(tedFru￿s 1.394 2.119 lo.c4￿} 51KJ f30) (4J {20} (ij 155) 1.364 1122 lo,￿1 S￿) 11987 112) (￿1 J VEarty legocy I J VEorfy lego¢y 2 Model frust Bequests 1 Mr& Mrs TJtTent Grfr M(3del TrusfBequests 2 TotolEndowmentffuffds 250 iij (3) f51J iioi f3J 250 32.449 592. 2,378 36269 165J iij f5} 93 109 32,547 701 2,378 3A476 li Tottsl Z54620 145432 ioi 914855 Z5AI.215 Note 26: Ana is of Assets between Funds Fund balances at 31 August are represented by- Generat TangIble￿d assets F￿ed 355et irNestments Current asset investments Othercuryenta55ets Currefttlobilsties 1.923.628 1,923.628 1,979 1.080,764 224.052 156.9701 3,173A53 1.979 34.290 1.033.848 11626 1.328 222.724 156,9701 54 2021 Tungilplefv'xed055ets Fixedfjoetinvesrnjents CuYTentGssetinvestrnents Othercurrentossets Currentliobilitres 1923,628 1.923.628 2,184 482.387 209.159 f57.143J 2.184 34292 435.472 11623 L364 207,795 157.143J 2.074280 435fi72 N4rte 27: Related Parties Each Circuit Trustee is a member of one of the Churches within the Circuit and may be a trustee in their Church. Related parties Include the Methodist Connexion lThe Methodist Church GB). the Northampton Dtstrict of thè Methodst Church. Churches within the Circutt135 listed in Note 51. other Methodist Circuits and Districts in Great Britain, CFB. TMCP and MC Note 28: Volunteer Cwtrtbutions Every entity {Connex￿n. Distritt, Circuit and Churchl within the Methodist Church in GB ts heavily ￿liant on volunteer5 who contribute their skilts. time and money in the furtherance of the WO￿ of the Church. In the Circutt the principal contribution is by serving as members of the C4rc4Jit Meeting who, togethÈrwith others a￿ involved in the work of the Circuit dealing with mi55ion. manses, finance. policy. grarrts, trainin& safeguarding. etc. We are grateful to all of them for their help and comTllitment. No attempt has been made tythis Circuit to value the non- monetary contribution5 to the Circuit in monetary tenYEs. **Issuer** Shaw Gibbs **Document generated** Fri, 23rd Jun 2023 7:34:47 BST **Document fingerprint** 9289dbaabd94fed83800f0eb0a4a830d ## **Parties involved with this document** |**Document processed**|**Party + Fingerprint**| |---|---| |Fri, 23rd Jun 2023 9:01:51 BST|Samantha Daniels - Signer (648774dde3709823e5d0afbaf2bb6000)| |**Audit history log**|| |**Date**|**Action**| |Fri, 23rd Jun 2023 9:01:54 BST|Samantha Daniels viewed the envelope. (89.197.20.206)| |Fri, 23rd Jun 2023 9:01:51 BST|The envelope has been signed by all parties. (89.197.20.206)| |Fri, 23rd Jun 2023 9:01:51 BST|Samantha Daniels signed the envelope. (89.197.20.206)| |Fri, 23rd Jun 2023 9:01:28 BST|Samantha Daniels viewed the envelope. (89.197.20.206)| |Fri, 23rd Jun 2023 7:35:41 BST|Document emailed to samantha.daniels@shawgibbs.com (13.40.37.133)| |Fri, 23rd Jun 2023 7:35:41 BST|Sent the envelope to Samantha Daniels| ||(samantha.daniels@shawgibbs.com) for signing (89.197.20.206)| |Fri, 23rd Jun 2023 7:35:10 BST|Samantha Daniels has been assigned to this envelope (89.197.20.206)| |Fri, 23rd Jun 2023 7:34:52 BST|Document generated with fingerprint| ||9289dbaabd94fed83800f0eb0a4a830d (89.197.20.206)| |Fri, 23rd Jun 2023 7:34:47 BST|Envelope generated by Kim Gray (89.197.20.206)|