THE METHODIST CHURCH WEST OXFORDSHIRE CIRCUIT (Charrty Registration No. 1134159) Circuit No. 23103 within the Northampton District of The Methodist Church TRUSTEES, REPORT AND ACCOUNTS For the Year ended 31 August 2023 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 THE METHODIST CHURCH. WEST OXFORDSHIRE CIRCUIT TRUSTEES, ANNUAL REPORT ON FINANCE AND GOVERNANCE FOR THE YEAR ENDED 31 AUGUST 2023 Basis of preparation and legal framework The Charity's annual report and accounts for the year ended 31August 2023 have been prepared in accordan￿ wth the Charities Act 2011 and the Charities". Statement of Recommended Practice 2015 as applicable to the Financial ReportirvJ Standard (FRS) 102. Full Name of Charity - The Methodist Church, West Oxft)rdshire CircuiL aSso known as West Oxfordshire Methodist Cir¢uit, We* Oxfordshire Methodists arHI Wrtney and FarTrngdon Methodist Circuit. Registration Charity Number- 1134159 Date of registration - 5 February 2010 Main communication address - The SU￿rintendent, 40 High Street, Wthey. Oxon. OX18 6HG The members of the West Oxtordshire Methodist Circuit Meeting are the Charity Trustees, membership being made up of circuit Offi￿ hokler5, minislers and representatives appointed by the loca5 churches. Full membership is shovm as Appendix A to this reFrf)rt on page TR 6. Circuit Alinisters and officers Active Circuit Ministsrs: Rev Andrew Biggs- Superintendent Rev Fred Ireland Rev Jason Cooke Rev lan Worrall Rev Chades Harris- Part-time Associate Minister Circuit StevArds: Mr lan Cotton (Senior stewa￿1) Mrs Rosemary Britton (Safeguarding) Mr Eddie FovAer (T￿aSure¢ Mrs Ann Jerome (To 31 Augu& 2023) Mr Martin Hannant Circuit Meeting Secretary: Mrs Adrienne Clark (From 14 September 2022 to 28 Febfuary 2023) Circuit Treasurer. Mr Eddie Fowler acted as the prTnopal officer overseeing the day to day financial management and accounting for the Circuit during the year. Independent Examiner: Shaw Gibbs Ltd.. A(xountants & Business Advisers, 264 Banbjry Road. Oxtord OX2 7DY Investment Bankers: Central Finance Board of the Methodist Church; T￿￿tee$ for Methodist Churth Purposes Bankers: CAF Bank Ltd, 25 Kings Hill Avenue. lQngs Hill, West Malling. Kent HSBC Bank plc, 24 Market Square, Wrtney. Oxon. The Methodist Church, West Oxfordshire Circult-Tn￿tees Report for the year ended 31 August 2023 Introduction and Review The West Oxfordshire Circurt vas f(¥med from the am*amat*Jn of the former Vthy and Faringdon Cirujit and Chipwng Norton and Stowe Cirojii in 2020. At that time rt immedrdtely had to navigate the drfficulties crealed by the Covtd pandemic. The Circuit Ix)nsists of 11 independent churches and th￿e worship centres at Newland, Sutton and Churchill, fomier small chufches, that are now managed by joint Trustee bodies associated largef churches at Huh StreeL Wrtney," Long HaniK)rough and Chipping Norton respec15vely. During this last year we have regularised the Managing Trusteeship ot Churchill at Chipping Norton. although the pastoral care was transferred in the previous year. Most churches in the Circuit are ncpw OFerth"ng normalty post paTrdern￿ although it is recognised that the impact will be ongoing. Most churches fa¢x the challenges of an a3ing memtership demcgraphic.. reducing numbers of peopte attending ￿[V￿ and available to take office" consequent reduced income. Reduced lettings post COV￿ is'th"Il also having a financHI impact on some of the kqrger churches. Despite the challenges, all churches conbnue to offer reguLir Sunday mming worship and midweek fellowship. Several churches have t*en offering Warn Space. PL￿eS whKh may include fellowship. coffee and eake and meals to support those struggling with heating costs at home during the current cost of living isis. At Carterton, the Circuit made the decision. based on professional ad￿. to abandon the refurt)ishment project in favour of a new build adviwl as being more cost effective and more able to offer the facilities required as 21st century base for MISS￿￿n and worship. Pioneer work has conb.nued to build ¢onnections bmth the local communty through fellowship and supwl prOj￿ts the Communty Garden will soon be open along with the log ¢2bin 'Prayer Hur. In Witney the Town Chaplaincy currenty run out of High Street Church is prcrfjressing well and IcM)king to expand. The smaller churches u)ntinue to do what they can in offering care and fellowship induding coffee momings. sales, con￿rtS and various other ￿tivities. Chartbury held a joyful weekend celebrat￿n of their b￿ntenary in Octo￿. There have been several staff changes this year wtth oui Children and Family's Worker- Anna, leaving, also our Circurt Administrator Adrrenne. We are cu￿enty recrurting for a permanent replacement administrator. In Stationing, Rev'd Jason Cooke vras r&invtted for a further year until 2025 and Rev'd Fred Ireland conffimied his retirement date al the end of the cu￿ent Connexional Year. We kx)k forward to weknming our new probationer Minister in Septemter 2024 Rev'd Sue Jacobs. Rev'd Andrew P Biggs Superintendent Minister Circuit Mission Statement The CircuÈt Miss￿tn Statement is presently as folk)wE". To encoutsge. enable and equip local congregations to live out thelr discipleship of worship, sernce and miswon in response to the gospel of Go(fs love in Chris Financial Review of the year Financial Perfomiance." Circuf( expendiiure of £454.459 indudes £97,482 paKI out ofthe Circurt Model Trust Fund ICMTFI, of which £25.747 was in grants made to one ¢i￿rt churth towards their refurbishment. and £68.789 as a levy traRsfeTr*l to the Northampton Methodist Distn"ct Advance Fund IDAF). The figure for stipends and salaries remains the Sing￿ htghest area of expense at approximately 41 % of total costs, wtth the District assessment {including the levy for the Connexional Methodist Church Fund) being 280A and property costs at 14%. Total grants patd were 13% of urcuii costs and the levy to the DAF represented 15%. Thi8 latter fund is for mission and ministy work wthin the Dislnrt and for property grants related to such work. The levy is calculated on the balan(E remaining in the CMTF al the year*nd. Income trends." Circuit income continues to ￿ primarily drawn from the assessment paid by the circuit churches which, this year totalbed £215.000. represents.ng 72% of the tolal In(x)m￿g resources. Income from renting out of the manses not presenty in use for circuf( slaff helps boost overall income by £38,047 (13% of total income). Interest received has increased to11% of incoFne. This is due to LM)th Ihe increasing rate of interest over the year and the balan￿ held in the Circurt Model Trust Fund. Expenditure trenits.. Salaries expenditure Sho￿ an Ir￿eaSe of 3.5% this year. The general increase of 4.24°kn set by the Meth(yJist Conference for ministers. stiFends. and used in this Circuit for our lay employees, was somewhat reduced in its effect by two of our lay empbyees resigning part way through the yeai, wtthout being repla(￿d. The Methodist Church. West Oxfordshire Circuit- Trustees Re￿rt for the year ended 31 August 2023 Expenditure on properttes Ir￿ased substantialty. manty due to urgent work being carried on the hvo houses being let out Quinquennial costs also hal a large increase in the year as our newly appointed Cit¢uiI Architect started to catch up. Fund balances.. As at 31 August 2023 the net unrestrNXed current assets of the Circuit were £1,043k, of which £882k was hekl wilhin the Circurt M¢)Jel Tnjst Fund. for use in carying out the longer lerm missK)n of the Circuit The bata￿￿ of £161 k, whvth is held in eastiy xcessible ac￿unts, gNes approximately 5 months ver for expendrture. Plans for2023/24." CircuFI financial plans for the cOrr￿n9 have been prepwed on the basis that there will conts.nue to be four fijll time minister5, one ofwhom vths out of the CircurE for 1 day a week as a PTison chaplain and one being a Pioneer Minister based in Carterton. as well as one part-time mintster wf(h resp)nsibility ft)r pastoral matters at one church. The fvll bme lay Childrert and FamIl￿S Wofkef left in the middle of April and the Circuit PAIAdministrator at the end of February, leaving us ¥￿th one lay employee - the T¢M Centre Chaplaincy Team Leader. A new part-kn)e Circuit Administrator is being sought The budget ha5 been prepared on the basts of a small redu(kn of 1% in the overall a55essmenL Aims and Organisation The Charity's objective is to act as a Resour￿ provider for the Methodist Church within the area around South and West Oxfordshire. The Circurt miss￿￿ Statement appears at the beginnirlg of this Report. The purposes ofthe Methodist Church are and shall be deerned to have been since the Date of un￿.. The advancement of- a)The Chrtstian farth in acCOrdar￿ wtth the d(thrrL31 standards and discipline of The Methodist Church" blAny charttable Purpose for the lime ￿Ing ofany Connemnal. Distrrt Cil￿rt or other organisation ot The Methodist Church", c}Any charitable purpose for the time E￿ing of any society or institu￿n subsidiary or ancillary to The Meth(xJist Church", dlAny purpose for the time ￿1r￿j of any charity ￿Ing a dwity subsKliary to The MethcKlist Church The organisation and resourung of fEgular public xts ofw)r5hip otm to [r￿MterS of the church and non-members alike. The teaching of Chrislianty through sermons. course5 and small groups. The re￿￿rCIng of pastoral work induding ViSEb"ng the sKk and bereaved. Taking religious assembl￿ in l(x21 schools. Promotion of Christianty through the stagiTrJ of ￿nts and serv￿. Provision of chaplaincy ser¥w to the ed￿{m)nal and other inst1￿￿on$. Public Benefit: We confimi the trustees have had regard to the Charity C(xnmlssic￿'s guidance on publ￿ benefiL Structure. Govemance and Management The goveming dc￿ment for the circutt is the Deed of UnK)n (1932) and Methc•J￿t Church Act (1976). Detsiled govemance arrangernents are outyined wrthin the Constitutiona Pr&tre and Discipline of the Methodist Church {CPDI by order of the annual ￿ffirerence. Day to day management of the ¢ir¢utl is undertaken by the Circurt Leadership Team ahjng with the Loca P￿a¢her$ meeb'ng. Trustee Training: A range of guidance ￿ prcKluced by MethTrJisl Connexion to support the effective njnning of the circuit, as well as'The Essential Trustee" and"Safeguarding GuKlan￿". whth are avaiiabje on the Chanty Commission website for Cirojit meeting member5 to re*fi as induth.on to their rde as trustees. Trustees have also been provided wrth the d(￿ument"FInanc1atr (knemance and gocHI pracbce for Church and Circutt Trustees" produced by the Northampkn Methodist Th"strtcL Related Parlies: The Circuit rs part of the Northampton MethcKlist Dkstrict and is also accountable to the Methodist Conference. The followng Churches are linked to the circuit. Melhodist Churches in Wttney (High St vAlh Newland and Davenwt Rd.). Bampton. Burford. Carterton, Chadbury, Chipping Norton and Churchill. Faringdon United Church (MethcxJistlURC LEP} and Methodist Churches in Long Hanborough wrth Sutton, Minster Lovell, Stonesfield and West(xJte. The Methodist Church. West Oxfordshire Circuit-Trustees Rewrt for the year ended 31 August 2023 Risk Management. At presen( a risk rnan*Je￿￿t statement is not requi￿ li view of the CircuFVs level of irwme. Hov+pver the Circuii Leadership will keep the sItua￿n under review. 5UPFxl's own image and likeness. Christians see this tx)tential a5 fvffilled by (&xl's re-creab.on of us in Christ. Amon9 other things this implies a duty to value a15 people as bearing the image of GrKI and therefore to protect them from ham. The Circuit is committed to Ihe followry priri*: the ￿re and nurture of, and respec￿1 pastoral min"Bty *ryih. all children. young peop￿ and adulls safeguarding and protecting all chiklren. young Feople and adU￿S when they are vulnerab e5tabli5hing safe. carin9 communtti"es. whth provide a knving environment where there is infomied vigilance as to the dangers of abuse. We will carefijlty select and tra"n all those with restKThibtirty the Church. in line wilh safer recruthent principles, including the use of c¥iminal rwds dis(*)sures and registration with the relevant vetting and barring schemes. We will respond without delay to every safeguarding cOn￿M whth suggests that a chihj. young person or adutt may have been hamled. working in partnership with the pol￿ and k)cal aulhority in any investigation. We will seek to work wth anyone who has suffered abuse. developing wilh them an appropriate ministy of infomied pastoral care. We will seek to challenge any abuse of pow. esFeryally by anyone in a position of tJusL Working wrth the Distitt Safeguariling offi￿r, wrll supwrt risk assessment of those who present safeguarding risk wtthin a chutch environment We wll engjre appropriate pastoral care is offered and measures are taken to ￿dresS 1den1rf￿ risks Ir￿uding referral to statutory agencies, suspension and the use of safeguarding contrxts. We wll recognise and appty the resIr￿"0￿S to appointment Lqid down in Standing Order 010 of the Conststutional Pr&1[￿ and Discipline of the Meth¢)Jist Church. In all these principles we wll follow legislation, guidance and reccMJnised good practice. The West Oxkirdshire MethodÉst Circutt commsts itsetr to." 1. RESPOND wrthout delay to any allegation or cause for con￿rn that a child or vulnerable adull may have been harmed, whether in the Church or in another context. It commrts rtself to challenge the abu￿ of power of anyone in a posibon of trust It commtis itself to provKting infomed pastoral care to those in need. including the supervision of those who have commrtted criminal offences. 2. IMPLEMEMf the Methodist Church Safeguarding Polry. Pr(wfuies and Guidance. govemment legislation and guidan￿ to achieve safe practice in the ortsjii and in the churches. 3. The PROVISION of supty)t( advi￿ and training for lay and ordained peop￿ that wll ensure people are clear and confident about their roles and reswnsibilitss in safeguarding a￿1 womot.ng the welfare of children and aduts who may ￿ vulnerabte. AFFIRM and give thanks for the work of those who are worker5 ￿th children and vulnerabte adults and acknowledge the shared resp)nsibilty of us ai for safeguarding children. young peo* arml vulnerable aduits on our premises. Reserves Policy The Reserves Poly for the unrestricted reseNes held in the General FurKI is to ho]d a minimum sum equivalent to between 3 and 6 months. average expenditure. This shoukj be suffio.ent to meet any unforeseen item of major expenditure on m2nse5 and l or to be able to (x)ntinue. Én the short temi, funding planned activib.es in the event of any inabilty to raise the fvll Circurt Assessment from churches. In addth"on. fijnds held in the Circuit Modd Trust Fund will ￿ appl￿d for the work and MISSK￿ of the circuiL The Methodist Church. West Oxfordshire Circuit-Tru5tees Rew>rt for the year ended 31 August 2023 Statemerrt of Trustees. Responslbililies The trustees are reswn5ible for preparing the Tntstees, annual retKYt aThl fina￿￿￿ statements in accordance with applicable law and United Kingdom Ac£(KJnb"ng Standards (United Kingdom Generally Ac£epted Accounting Practice). The law applicable to chanties in England and Wales requires the trustees to p￿pare financial statements tor each financtal year which give a true and fair view of the state of affairs of the chanty and of the incoming resources and applitxtK)n of resources of the charity for that penod. In preparing these statements, the trustees are required to: select suitsble accounting poI￿leS and then apply them consistenyy.. ObSe￿e the melhc#Js and principles in the Charities SORP 2015 {FRS102)" make judgements and estimates that are reasonable and prudent: follow applicable"a(Lounting standards. prepare the )Inancial statements on the going concern basis unless r( is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper acctsunb.ng reo)rds that disclose with reasonable accuracy at any time the financial postbon of the charity and enable them to ensure that the financial stslements comply with the Chartbes Act 2011. the Chanty {Accounts and ReF￿ts) Regulab"ans 2tK)8 and the provisions of the trusl deed. They are also responsible for safeguarding the assets of the charity and hen￿ for takn'ng reasonable steps for the prevention and detection of fraud and other irregulartbes. Independent Examiner We wsh to place on record our thanks to our ITrdep￿ent Examw, Shaw Gibbs Ltd. Acmunlants and Business Advisers. who have been reapwinted for the ensuing year. Declaration The TDJslees' ReFmJrt and the Financial Statements were approved by the Trustees on 1210612024 Signed: Andrew Biggs lan Cotton Eddie Fowler Superintendent Minister SenK)r Circuit Steward Circurt steward & Treasurer The Methodist Church. West Oxfordshire Circu¥t- Tntstees Report forthe year ended 31 August 2023 West Oxfordshire Methodist Circuit- 2022-23 - ndix A CIRcurr MEETING MEMBERSHIP USTEES 1. c1￿ult Leadershl Team MINISTERS Rev Andrew Biggs Rev Fred Ireland Rev Jason Cooke Rev lan Worrall CIRCUtt STEWARDS Mr lan Cotton (Seniorcs) Mrs Rosemary Britton (& safegUa￿l¥J) Mr Eddie Fowler (8 T￿asu￿ Mr Marh"n Hannant Mrs Ann Jerome (to 19AW23) 2. othor Circuit intments FORMER VICE PRESIDENT OF CONFERENCE Mrs Stella Bristow CIRCU￿ MEEnNG SECREfARY MF5 Adrienne Clark 7W21 to 2￿2￿23) LOCAL PREACHERS & WORSHIP LEADERS Rev Stephen Bywater (Jtynl SeGy) Mrs Jenny Bywater (Joint Sectr) Mr Andrew Mai*y rr PASTORAL LAYWORKERS rs Anne Ctawford Mrs Dawn Haley LEGAL ADVISER Mr Andre4Y Pote (to 31n2r23) 3. Church Re resenLilives BAMPTON METHODIST CHURCH Mr Sinclair Duff (to 17AW22) Mr Bob Jones (deceased IiAtY22) Mr Matthew Wareharn CARTERTON MEfHODIST CHURCH Mi Kart Williams Mr Mike Hawkins {trJ 0￿￿23) Mrs Jan Hilton Ms Carol Port (fnyn 07ffjff23) CHARLBURY METHODIST CHURCH MTS Sheila Fanner Mrs Gill Gtason Mr DavKI W(xKlcod( CHIPPING NORTON MEfHODIST CHURCH Mr Doug Paxlon (fo 31AW22 & from 14¢W22) Mr Mich￿1 Fletd)er {d￿8$ed 17A2r22) CHURCHILL M￿HoDIST CHURCH Mrs Lesley Sutherfand Miss Jackie Palmer DAVENPORT RD, wrrNEY PAEfHODIST CHURCH Mrs Judth Bucknall Mrs Helen Adams Mrs Jathy Milner Mr Roy Tov•TrserKI HIGH STREET, WITNEY m￿HoDIST CHURCH Mr David Limmer (to 241D7f23) Mr Graham Beechey ifrom 24￿7T23) Mr lan Prince {10 31W23J Mr Jonathan Milter 31mV23) Mrs Ann Worrall Mr Bill Seedhouse Mr Keith Crawford Mrs Mary Jordan Mr Dave Richardson Miss Salldra Robinson FARINGDON UNrrED CHURCH Ms Liz Kilpatr￿k LONG HANBOROUGH IAETHODIST CHURCH Mrs Gill Breakspear Mr N￿e1 James Mr Andy GoV￿r Mr Chas Simpkins Mr5 Valerie T MINSTER LOVELL MEtHODIST CHURCH Miss Wendy Atkinson Mrs Mary Willis Mr DavKfj Haley STONESFIELD MEtHODIST CHURCH Mrs Kath￿n Abert Miss Claire Walion WESTCOTE m￿HoDIST CHURCH Mr Tony Gibson Mr John Benley The Methodist Church. West Oxft)rdshire Circu¥t- Trustees Report forthe year ended 31 August 2023 ## **THE METHODIST CHURCH, WEST OXFORDSHIRE CIRCUIT** ## **INDEPENDENT EXAMINER'S REPORT** ## **TO THE TRUSTEES OF THE METHODIST 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 ended 31 August 2023. ## **Responsibilities and basis of report** As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the Charity’s 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 section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: - 1 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 concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ## Samantha Daniels Samantha Daniels FCA For and on behalf of Shaw Gibbs Limited 264 Banbury Road Oxford OX2 7DY 22 Jun 2024 Dated: ......................... IER 1 O O O Us u) Ln r4 1 zn o LX> O t71 ro I th ¢D rt Lh O i O Oi r4 r4 In 00 mvp omov Ln r4 (O (S m ¢ft ¢Tr In ro o its om# 0*0 Tr- ¢h IS) rri iti x LV 2020 Total 271.4 271.4CKI 447,237 339,504 446,897 418,590 £1.923,628 447.237 339,504 446.897 418,5 £1233.638 £689.990 Note 15: Fixed Asset Investments- all Enth)Twrnent fund5 The funds that Sup[￿$rt the General Fund and the Manse5 Fund are held TMCP in Trustees Inte￿$t Funds on which interest is credtted to the accounts each month. a5 well as a CF8 Managed Mixed Fund and a CFB Managed Fixed Interest Fund. These are regarded as medium and knng terni investments (see akn Note 18 bekiwl. As stated in Note 14 labovel. TMCP is the legal oW￿r and Custodian Trustee of all Methodist Model Trust property. which includes Legacies, Endowments and Ac￿mUlated Fund> 2023 1,875 Securittes not listed on a recognised st￿ Excha Other investments 1.979 £1￿75 £4979 Carrying Imarketl value at beginning of year Net gainlllossl on revaluation Carrying {fflarketl value at end (rfyear (No additior￿ or disposals) The Funds end of year waluations summarised above are 85 follows: YaThent Gif CFB Managed Mixed Fund- Valuation- 125 units @ £5.028 (£5.251) odel Trust Bequests l- CFB Managed Mixed Fund- Valuation- 125 units @ £5.028 IfS.2511 CFB Managed Fxd Int Fund- Valuation- 368 units @ £1.681£1.8111 1.979 IILH) £1.875 2.184 1205) 2023 2022 628 656 629 618 £1875 656 667 ££979 Note 16: Delrtor5 Debtors and prepayments are all in conneLtiTh) with UnrestrKted General Fund, and a summary follows: 2023 2022 70.507 55.838 Prepayfflents Stipend5. pensions. Nl Utilities Other prepayments 13,858 3.￿3 12,887 3,914 244 £72A83 Total £89.616 FS9 The Methodist Churth. West Oxfordshire Circuit Notes to the Accounts ff* the year ending 31 A￿15t 2023 Note 17: Loans to Churches Loans to churches within the CircuFt may be granted ￿ the trustees for a var*ty of purposes. Funds for larger loan5 a￿ sourced from the CMTF and a￿ interest free. The asset. however. is carried in the General Fund. The agreed repayment date lrfsetl is shown in the table below. Church deared carried in year fonward 16.1221 9,174 £16.122) £9.174 frlrward Sep2022omMards open open 4. £4, Burford Totsls 103 The following funds are held by TMCP in Trustees Interest Funds on whith interest is credited to the accounts each month {see also Note 15 alM)vel. Totsl Fund Funds 2023 Funds Circust Model Trust Fund Toog(Mid Memorial Fund Pocock Bequest Willrner Bequest Model Trust Bequests I Model Trust Bequests 2 Total 881,745 881,745 2.188 lo,￿￿) 2,188 io,( 31,059 2378 £34437 31,059 2.378 £927.Th £881,745 £￿.688 Circuit Model Tnjst Fund Toogood Memoriol Fund Pocock Bequest Willmer Bequest Model Trust Bequests 1 Model Trust Bequests 2 Trtol 1.033.848 1.033.848 2,126 10,0 2.126 Jo,( 31.059 31.059 2.381 2,381 £33 440 ££0795114 £1031848 £12.626 Nots 19: Cash on De ErAdo¥rn't Totsl Fund5 2023 CFB Deposit account Early Legacy I Early Legacy 2 Totsl 48.480 250 250 £48A80 £49330 CFB Depositoccount MCA Depositoccounts.. Early Legacy I Eorly Legocy2 Total 58,419 250 250 £54419 £59269 FSIO The Methodist Church. West Oxfordshire Circuit Notes to the Accounts for the year endiwd 31 August 2023 Note ZO: Cash at bank and in hand Total General Fund Funds Funds HSBC BanK Wrtney General Fund Local Preachers Fund CAF Bank Total 14.415 14,415 1,328 36,202 £51.945 1.328 36.202 £50,617 £1328 2022 HSBC Bank, Witney Gener(Jl Fund Locol Preochers Fund CAF 8onk Total 40.074 40.074 1.328 46.442 £87.844 1,328 46,442 Note 21: Creditors This consists of creditors, accruals and income recep￿1 in athnce. It is expected that all su￿$ accrued at 31 August 2023 will be paid during the year to 31 August 2024. The Èncome ￿¢eNed in advance includes assessments from churches which relate to the fiFSt three months of the year 2023-24. The fyure5 induded here are all deatt w¥th in the General Unrestricted Fund. 2023 2022 Income in Ad￿nce Assessments in advan Rent in advance Creditors and Accwals Minister5. and otherexpenses Property costs Utilities Independent examination Other c￿dItorS Total 28.403 27.988 1,452 1.7(M) 2.813 3TI 2.816 19.025 419 2.870 £56,970 £36.693 Note 22: Ca al Commitinents and Conli Liabilities At 31 August 2023 the Circuit had no capital commitments. No contingent liabilities were identrfied at 31 August 2023. However, in September2021 the Circutt Meetiwjg agreed a grant of up to £250,(XM) for (apital work on Carterton Methodist Church Whe￿ pioneer WO￿ is being undertaken. to be paid from the ￿rCuit Model Trust Fund. Note 23: Unrestricted Funds 23.1 General Fund Balance at 31 August 2023 2022 The purpose of the fund is for use at the discretion of the trustees in the furtheran￿ of the general objectives of the Circuit and which have not l￿en des￿nated for other wrposes. Abo￿ 92%12022- 92%) of this fund is held as freehold properties, being manses for ministers in the Circuit. The Circuit Meeting is aware that any grant applKatx)ns must dernOn￿e wblic twefft. FSII The Methodist Churth, West Oxfordshire Circuit Notes to the Accounts for the year ending 31 Aiwist 2023 23.2 Circuit Model Trust Fund Balance al 31 August 2023 £881,745 2022 £&033,848 The purpose of the fund is for use at the disuetion of the tmstees In the fUrthe[an￿ of the general objectives of the Circuit. Its main source of income is legacies and fornwla5cally deterniined contributtons from the sale of manses and church buildings in the Circuit. Although this is technically an Un￿striCted Fund under the control of the fjrcuit Meetin& pr￿r approval may still be required from the Distritt to utilise these funds. Methodist Standirg Orders 930. 931 and 917121 are applicable. Note 24: Restrirted and Endowment Funds Restricted Funds Balance at 31 August Endowment Funds Balance at 31 August 2023 £14X116 £36.ts2 £ts354 £36269 The restrÉcted and endowment funds exist to support the causes listed below. All the funds, assets (except those restrirted funds which are managed locally and those deposits held wrth MCA) are rnanaged by TMCP ènd the net income (after charges) is paid direct to the administrators of the fund. Each fund listed below is categorised according to the following key: IEEI- {Expendable Endowmentl Capitsl available wilh restrKtions IPEI_ {Pemanent Endowment} Capital unavailable {RLI- {Locally Restricted} Capital and interest available local P￿cherS Fund IRLI-This is held in the Circuit HSBC current account and 15 rEstricted to provide support for the work of the Circuit Leaders of Worship and Preacher5 Meeting. Toogood Memorial (EE)- Both capital and interest are available for use by the Circuit for Educational Purposes. J Pocock Bequest IPE}-The interest is used to support fjrcuit Man￿. R N Willmer Bequest {EE}- The Inte￿St from this fund is available for general Circuit purposes wtihout restrirtion. The capital is available with restrirtions. A request was made that this bequest be treated as a Permanent Endowment. However, this is not 8 legal direttion, so the Trust is fulty available to the Cirojit. J V Early Legary I IRL)-This is held in a deposrt account wtth MCA. The interest is used to support fjrcuFt Manse5. J V Early Legacy 2 (RLI-This 15 held in a depostt account with MCA The interest is used for the general work of the Circuit. Model Trust Bequests l {RLI-The income from this fund is used to support Circuit Manses. Mr & Mrs E Tarrent Gift {PE)- The income on this is available for the general purposes of the Circuit. and is allocated to support Circuit Manses. Model Trnst Bequests 2 {RL)- The inteTest from thi5 fund is used forthe generdl Work of the fjr(uÉt. Note 25: Summa Fund of Fund Movemerrts OVOg12022 3Vo812023 General 2,089,382 Circuit Model Trust 1.033.848 T¢)tal Vnrestrttted Fund$ 3.1233JJ Restrtcted Funds: thcal Preacheis Fund Toogood Memo￿1 J Pototk Bequest R N Willmer Bequest T¢xal Restritted Funds Endowment Fundk" J V Ear￿ Legaty I J V Early Legacy 2 Model Trust Bequests i Mr & mrSTa￿eTht Grft Model Trust Bequests 2 Total Endtr*mert 266954 1356WOI 85.326 29,379 197.4821 184.(MM)I 2,084,822 881,745 2.966.567 1,328 2.188 10.000 SC4J I4￿16 2.126 io.(xx) 161 1291 iii 318 16 12891 54 13tMI 121 32,382 657 1.018 19 76 1921 121 17) 19261 1181 1711 1761 1281 32.306 628 2.378 36.162 36269 I￿all￿fits £3.173AS3 £10) £JA116,745 F512 The Methodist Church, West Oxfordshire Circuit Notes to the ACC(￿nts for the year ending 31 Awist 2023 Fund 01/￿/• Generol Circuitmodei frust 2.074.2&1 435,472 256.303 1323J21) z(xx) r37.543J f82.(XA)J 1089.382 1.033.848 715,919 LtxuIPre(Jchets Fund Tth¥oodMemor￿l J Pocock 8eqtR5t R N WillmerBequest TrtolRestrithFund5 End01￿J￿rfFUndS." J VEaty legucy I J VEorfy Leuo(y2 Model Tru5tBEqI*StsI Mr& PAts Torrentfyft Model Tru5t8equests 2 Tot•lErtdoMnentFumts 1364 1122 lo.￿1 (36) 16J 128) 12J 1,328 2.126 io,oxJ 51XI 11954 io 47 {20J 59 (201 250 f2J (81) 115) f21 32,547 701 1378 34476 1931 f2) 17] 1160) 144) 32.38Z 657 2.380 36269 17 li I2￿} Totolo n5JJ9 1174453 Note 26: Ana Fund balances at 31 August are represented trr. Tangible fixed wets Fixed asset snvestrnents Curreftt asset in¥esth*nts Other curre¥rt a55ets C￿￿ertt liabslities 1.923.628 1323.628 1.875 928.720 199215 136.6931 3J>l&745 I￿75 34.287 881.745 197.887 136.6931 ￿4￿11 881.745 1.328 3A162 TOng1b￿rIxedCS5ets Fixed osser investsxents CurrentO55etinve5tm Othercu￿e￿t0ssets CuuvntliubilitFes L923.628 L923.628 1.979 ItW.764 224.052 156,9701 1171453 1.979 IZ626 1328 222.724 {56.971) Note 27: Related Parties Each Circuti Trustee 45 a member of one of the Churches within the thit and may be a trustee in their Churth. Related parties indude the Methodist ConnexN)n lThe Methodist Churth GB). the Northampton District of the Methodist Church. Churches within the Circuit las listed in Note 51. other methOd￿t Circuits and Districts in Great Britain, CFB. TMCP and MC Note 28: Volunteer Contributions Every entity Iconnexion. DistriCL Circuit and Church) within the Methodist Church in GB ￿ heavily reliant on volunteers who contribute their skilb, time atid money in the furtheran￿ of the work of the Church. In the Circuit the principal contribution is by serving as members of the Circuit Meeting who. together with others are involved in the work of the Circuit dealing with mission, rnanses. finan￿. poly. grants. traini￿ safeguardin& etc. We are grateful to all of them fortheir help and commitment. No attempt has been made by this Circuit to value the non- monetary contributions to the Cifculi in monetary ternis. F513