THE METHODIST CHURCH WEST OXFORDSHIRE CIRCUIT (Chanty Registration No. 1134159) Circuit No. 23103 within the Northampton District of The Methodist Church TRUSTEES, REPORT AND FINANCIAL STATEMENTS For the Year ended 31 August 2025 CONTENTS Page TR1-6 Trustees. Report Auditor's Report Statement of Financial Activities (SOFA) Balance Sheet AR1-2 FS1 FS2 Statement of Cashflows FS3 Notes to the Financial Statements FS4-15 THE METHODIST CHURCH. WEST OXFORDSHIRE CIRCUIT TRUSTEES, ANNUAL REPORT ON FINANCE AND GOVERNANCE FOR THE YEAR ENDED 31 AUGUST 2025 Basis of Preparation and legal framework The Charity's annual report and accourrts for the year ended 31August 2025 have teen prepared in accordance with the Charities Act 2011 and the Charities.. Statement of Recommended Practi 2015 as applirAble to the Financial Reporting Standard (FRS) 102. Full Name of Charity - The Methodist Church, West Oxfordshire Circuti, also known as West Oxfordshire Methodist Circuit. West Oxtordshire Methodists and Wrtney and Faringdon Methodist Circuit. Registration Charity Number - 1134159 Date of registration - 5 February 2010 Main communication address - The SU￿rintendent, Wesley Manse, Church Street, CHIPPING NORTON, Oxfordshire OX7 5b The members of the West Oxfordshire Methodist Circurt Meeting are the Charity Trustees, membership being made up of Gircuit Offi￿ holders. ministers and representatNes appointed by the local thurches. Full membership is shown as Appendix A to this report on page TR 6. Circuit Ministers and officers r- alx) a IrLtstee) Active Clrcuit Mtnisters: Revd Andrew Biggs- Superintendent" Revd Jason Cooke (fo 31 January 2026) . Revd lan Worrall (To 31 August 2025) . Revd Sue Jacobs ' Revd Kathy Flynn (Frn I Septemter 2025) . Circuit Stswards: lan Cotton {SenK)r Steydrf to 31 August 2025) . Rosemary Britton (SafegUa￿l￿g) ' Eddie Fowler (freasuw- see also below) . Val Donoghue . Richard Bowler (From I September 2025) . Martin Hannant (To 05 Ma￿h 2026) . Ramon Gater (From 05 Marth 2026) Circult Property Sales Officer. lan Cotton (From I September 2025) . Circuit Meeting Secretary: Caroline Todd (From 18 September 2024) Circuit Treasurnr: Eddie Fowter. who acted as the principal officer overseeing the day to day financial management and accounting for the Circurt during the year. Auditor: Shaw Gibbs (Audit) Ltd.. Accountants & Business Advisers. 264 Banbury Road. Oxford OX2 7DY Investment Bankers: Central Finance Board of the Methodist Church: T￿￿teeS for Meth(yJist Church Purposes Bankers: CAF Bank Ltd. 25 lQngs Hill Avenue. Kings Hill, West Malling. Kent HSBC Bank plc, 24 Market Square, Wrtney. Oxon. The Methodist Church. West Oxfordshire Qrcuit- Tnstees Report for the year ended 31 August 2025 Circuit Mission Statement The calling of the Methodist Church is to respoThl to the nevts of GCMJ'S bve in Christ and to INe out its discipleship in worship and mission. The Circuil Mission Statement is as folk)¥ts: To encourag4 enable and equip local congregations to live out thwrdiseipleship of worship. service and misston in ￿SPO￿ to the gospel of God's love in Christ In furtherance of this, the churches in the West 0X￿dShire Methodist CircJJit are committed to: Provtding Iwing and relevant Christian worship. sacraments. prayer and te￿ing, and seeking a deeper understanding of Gcxl's purFoses and of the Gospel of Jesus Christ SLtpporting and nurturing pastotally those V￿thin the church and geograph￿ communty.. Witnessir)g to Christ in the community and the wider worfd by cmjlrexh. and encouraging moral values and justice., Being good stewards of our God-gi￿n resources. Aims and Oryanisation The Charity's objective is to aci as a Resource provmler for the Methodist Church wrthin the area around South and West Oxfordshire. The Circuit Mission Stsiement appea￿ at the teginning of this Report. The puryX￿eS of the Methodist Church are and shall be deemed lo have been Sin￿ the Date of Union.. The advancement of- a}The Christian faith in acCOrdaT￿ Wth the dcttrinal standards and discipline of The Methodist Church; b}Any charitable pury)ose for the time t￿"ng of any Connexional, DislJirt CircuiL kjcal or other organisation of The Methodist Church", c)Any charitable purpose for the b.me b￿ng of any S￿Iety or instilution subsidiary or ancillary to The Methodist Church.. dlAny purpose for the trme being of any charity being a charity subsidiary or anallary to The Methodist Church The organisation and resourryng of regular Publ￿ acts of*Y)rship open to member5 of the church and non-member5 alike. The teaching of Christianty through senYKffis. courses and Sm￿1 groups. The resourcing of pastoral work induding visibng the sKk and bereaved. Taking religious assemblies in local schools. Promotson of Christianity through the slaging of events and services. Proviston of chapbincy se[vi￿S to the local educational and other institutions. Public Benefft: We confim the trustees have ￿ regard to the Chanty Crynmission's guidance on public benefiL Structure. Governance and Management: The goveming documents for the circuit are the Deed of UnM)n (1932) and Methodist Church Act (19761. Detailed governan￿ artangements are outlined wiihin the Constitutional Practi￿ and Discipline of the Methodist Church (CPD) by order of the annual conference. Day to day management of the circuit is undertaken by the Circuit Leayership Team. The Consb"tubon of the Circurt meets.ng is found in SO 510 in the Standing Orders seth.on of CPD, and there follows the parts of that Standing Order that are re￿vant to this Circu The Circuit Meeting shall consist of. the ex-offirio members SF￿ffjed in SO 552 (these are as follows.. the Supwintendent. all ministe andprObatiOne￿ appointed to the GI￿ul1. allpersons aulhonsed to seNe the Church as presbyte and deacons and appointed to fvI[￿ presbyte￿1 ordiaconal dU￿S in the Circuit and the circuit stewards shall, ex Off￿￿, be n￿rnbel5 of and entrfled to attend all official meetings connected wrth the Circuit, except that Cl￿rtste￿ards shall not t* members of the L(Thl P￿acherS. Meeting unless they a￿ I￿al preaGhers.J,' such other persons. rf any, as the Circurt Meeting judges rt appropriate to appoint from among those employed by the meebng under SO 570 (all abtxrt employing Lay Employees)." the secretary of Ihe meeting.. the secretary of the Lool Preachers. Meeting: from each L￿a5 Church one church steward and the ¢hurch treasurer. representstives elected by the Church Council of e￿ Locd Church from rts members in numbers specified by the Circuil Meeting", add￿'Onal persons as the Circuit Meeting may desi￿ and aP￿int to ensure that all areas of the lrfe of the Circuit are adequately represented. provided that the total number appointed under this head shall not exceed the total of the numtsrs S[￿r￿d by the Circuf( meets.ng for the purposes of head Iviiil. In ￿1rdan￿ wilh Standing Orders {Iviii) atx)ve). the Circurt m￿ting had agreed that there would be Local Church represent*ves fr(xn each church. (vl {ix) The Methodist Church. West Oxfordshire Circuit-TnLStees Re￿rt for the year ended 31 August 2025 Achievements and Perfomiance in the year Personnel." Revd lan Wofrall retired at the end of August 2025. after a P￿neer ministry in this Circuit of 5 years. As he 'sits down. (Methodist terminolwy), we thank him and hi% wife Sue for their ministry among us, and we wish them both a long, happy and fulfilling retirement Revd Jason Cooke continues to serve the Circuit Trhryth his continuing pastoral resFonsibilty for High Street, Witney Methodist Church and Faringdon Unrted Church. During this year, he offered a further year to the Circuit, which was afftpted wtth gratitude. However he left the Circurt on 31 January 2026. Revd Sue Jacobs joined the Circurt in September 2024 for a 5 year temi. the first of wh￿h are as a Probationer Minister. She has pastoral fesFX)nsibilty for Long H2nborough. Davenport Road Witney, Minster Lovell and Bamplon Methodist Churches. We are all looking io Sue's ordination in June 2026. Revd Kathy Flynn. During the year, the Circuit was gr*ful to hear that a new Pioneer Minister would be stationed here, living in Carterton and with responsibilrty for the congregation worshipping in The Sanctuary Methodist Church there. Revd Kathy Flynn joins the Circuf( in September 2025 for a fve year te￿n. We look fO￿ard to welcorning her. and to working with her in ministy. We hope that Kathy will have an enjoyable and fulfilling time wtth us. Churches.. Carterton.. Carterton Meth(#Jist Church. kno￿ as The Sanciuary in Carterton has had a fvrther £1,230 spent on the Community Garden. completing the CiroJiYs grant tor this project Both garden and Prayer Hut remain in regular use. Work has now started on the refurt)tshment of the toilets. Charlbury.- The congregation had found that due to age and infinnty they ￿re increasingly struggling to maintain the building and to raise the funds needed to continue to run. maintain and (x)mply with Managing Trustee reswnsibilib"es. The decision was therefore made to close and sell the church building. Yet they have a strong local fellowship bond and wish to retsin this. A closing se￿1￿ was hekl on 20 July and the chapel building closed at the end of July. Membership has been transferred to Chipping Norton and the Fellowship will be able lo worship there once a month. They will also have planned services once or twi￿ a month In the village hall in Chadbury. Following the end of the year. the church building is being prepared for sale. Churchill.. The membership of the Cong￿gatiOn had already been transferred to Chipping Norton, but the small congregation at Churchill have found running a Servi￿ on Sundays has b￿me increasingly difficult. It was therefore decided to ￿ase worship there and to sell the church building. A closing seThice was held on 27 July, and following the end of the year, the church building is being prepared for sale. Carterton Manse." During the year, with the manse owned by the Circurt in Berryfield Way being empty, the opportunity was taken to undertake a substantsal refurbishment of the property in preparation for its new occupant, Revd Kathy Flynn who moved in during August 2025. Financial Perfomiance." Circuit expendbture of £516.715 includes £91.313 paid oul of the Circuit Model Tnjst Fund (CMTFI, of which £1.230 vrds a grant made to Carterton Methcmjist Church as indicated al)ove, towards their pioneer project £85,978 was a levy transferred to the Northampton Methodist District Advance Fund IDAFI, which is for mission and ministy wotk within the Distrrt and for property grants related to such work. The levy is calculated on the balance held in the CMTF at the teginning of the year. The figure stspends and salaries remains the single htghest area of exFEnse at 37% of total costs, with the Districi assessment (including funds for for the Connexional Methodist Church Fund) and the DAF levy mentioned above being 36% of total expendibjre. Property C05ts ¥epresented 20% of total expenditute. Total grants and donations paid were 0.5% of circutt costs. Income trends.. Circurt inujme Ix)ntinues to be primarily drawn from the assessment paid by the circuit churches which, this yeai totalled £213,726. representing 370A of the total incoming resources. Income from renb.ng out two of the manses not being in use for circurt staff redu￿1 to NIL. This is because one was in use by a new minister and the other was sokj in the year. Interest receNed has increased to £61,277 due to both the increasing rate of interest over the year and the balan￿ held in the Circurt Model Trust Fund. Other Income this year represents the net sale prcceeds of the BuThvell Meadow, Wrtney manse. Expenditure trend5." Salaries expendrture shows a decrease (rf 5% this year. Whilst there was a general increase of 6.82% set by the Methcxlist conferen￿ for ministers. stipends, and also used in this Circurt for our lay employees, the effect was somewhat reduwl by the (￿Mplett.0n of his part-time pastoral ministy by one of our supemumerary minister5. Expendrture on properties increased, mainty due to the refvrbishment of a manse in preparatv)n for its use by a new minister in September 2025. Fund balances." As at 31 August 2025 the net unrestricted Current assets of the Circuit were £125k, which is held in easily accessible a¢xounts. gNes approximatety 3.5 months cover for expendrture. Plans for 2025/26.. Circuit financial plans ft)r the coming year have been prepared on the basis that there will continue to be four fijll b.me minislers, wFth one being a Pioneer Mintster based in Carterton. The tsvo lay employees are the Circuit Administrator working 18 h{￿rS a week and the Town Centre Chaplaincy Team Leader who works 11.25 hours a week. The budget has b￿n prepared with no change in the overall assessment. The costs of the Pioneer minister and the lay stsff will covered by transfers from the cwrF. Revd Jason c￿ke will be leaving this Circurt during the year and we are kx)king forward to being able to welcome a new minister to take his pl&e by Septeml*r 2026. The Methodist Church, West Oxfordshire Circuit-Trustees Report for the year ended 31 Au8USt 2025 Trustee Training: A range of guhjance is pr(xluced by Methodist COnnex￿n to support the effective running of the circurt, as well as'The Essential Trustee" and"Safeguarding Guidani*". which are available on the Charity Commissron website for Circurt meeting members to read as induction to their role as trust￿. Trustees have also been provided with the document-Financial Governan￿ arKI wl practte for Church and Cirojii Trust￿. produced by the Northampton method￿ Dislnct Related Parties: The Circuit is part of the Northampton Methcmjist Distrma also ￿￿ountable to the Methodist Conference. The following Churches are linked to the CircuiL Meth(*Jist Churches in Witney {High St wrth Newland and Davenport Rd.), Bampton, Carterton. Chipping Norton. Faringdon Unrted Church IMethodistlURC LEPI, Methodist Churches in Long Hant#)rough with Sutton. Minster Lovell, Stonesfield and WeSt￿te and the Charlbury Methodist Fellowship. Risk Management: Principal Risks and Uncertainties RISK= MMGATED BY: Misappropriation of funds Sknct Observan￿ of Standing Order 012{1) which states that "Methodist money shall not be hekj in priv*e a(xounts but in official bank &counts requiring the s￿natUreS of. or electronic authorisation by, Fersons for withdrawals" The vast maiorrty of Circuit funds are hekj as balances with CAF Bank, HSBC, in the CFB DeF*)Sit Fund and the Trustees Interest Fund at TMCP. In addrtion. there are two funds wth small investments made on our behaK by TMCP, both in CFB Managed Mixed Fund and one of them also in CFB Managed Fixed Interest Fund. These three investments are all valued at well under £1,CW eath. as are iwo deF¥)wts with Methodist Chapel Aid Ltd from legacies. The viabilty of churches in the Circuit is monrtored through the Standard Fomis of A￿)Unts and regular review by the Circurt Leadership Team. A pLgnned pr￿raMrne of professinal quinquennial inspethons is carried out 81 the request of and under the supervision of the Circuit Stewards who ensure that appropriate action is taken where necessary. This includes all thurches and manses in the Circuit wth the Circuit paying for the inspections. athough indiv￿￿al churches are reswnsibbe ftjr paying for work as a result of their inspectrins. Investment Risks Viabilty of Churches Property Risk Safeguarding: Every person has a value and dignty whth COrr￿S dirth from the Creat￿)n of humans in God's ovm image and likeness. Chfistians see this potential as fulfilled by God's re-creation of us in Christ Among other things this implies a duty to value all people as bearing the image ot God and the￿fOre to protect them from harm. The Circurt is committed to the following principles.. the care 2nd nurbjre of, and respectful pastoral mini5by with. all chiklren, young people and adults safeguarding and protecting all children, young people and adults when they are vulnerable establishing safe, caring communities. provKle a k)ving environment where there is informed vigilance as to the dangers of abuse. We will carefully select and train all those wth any responsi￿.1￿ wthin the Church. in line safer recrurtment princip￿S, including the use of crwninal records disclosures arKI registration with the relevant vetting and barring sthemes. We will respond wrthout delay to every safeguarding con￿rn which suggests that a child. young person or adult may have been hatmed, W(￿king in pathership wth the wlice and Iwal authority in any investigation. We will seek to work with anyone who has suffered abuse. develO￿ng with them an appropriate ministy of informed pastoral care. We will seek to challenge any abuse of power, especialty by anyone in a posrtKJn of trust Working with the District Safeguarding 0￿er, we wll support risk assessment of those who present safeguarding risk within a church environment. We wll ensure appropriate pastoral care is offered and measures are taken to adress pJenlified tisks induding referral to ststulory agencies. suspension and the use of safeguarding contracts. We wtll recognise and appty the restricti.ons to appointment laid down in Standing Order 010 of the Constitutional practi￿ and Discipline of the MethcKJist Church. In all these principles we will follow legislatson. gUthn￿ and recognised gocmj practs"ce. TR4 The Methodist Church. West Oxfordshire fjrcult-Tn￿tees Rerx>rt for the year ended 31 August 2025 Safeguarding (convd) The West Oxfordshire Methodist Citcuil commts rtself to: 1. RESPOND without delay to any allegation or cause for concem that a chikl or Vulnerab￿ adult may have been harmed, vthether in the Church or in another (x)ntext It commrts rtself to challenge the abuse of power of anyone in a position of ttusL It commits itself lo provKling informed pastoral care to those in ￿￿1, including the supervision of those who have cornmrtted criminal offen￿. 2. IMPLEMENT the Methodist Church Safeguarding POI￿y, Pr￿edureS and Guidance. govemment legislation and guidance to aCh￿e safe practice in the circuit and in the churches. 3. The PROVISION of SUPFMXL advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilrties in safeguarding and promoting the wetfare of children and adutts who may be vulnerable. 4. AFFIRM and gwe thanks for the I￿rk of those wlv) are workers wth chiklren and vulnerable adults and acknowledge the shared reswnsibilty of us all for safeguarding children. young people and vulnerable adults on our premises. ReseNes Policy The Reserves PoI￿Y for the unrestricted reserve5 held in the General Fund 15 to *￿Id a minimum sum equivalent to behveen 3 and 6 months, average expenditure. This should be SUffi￿ent to meet any unforeseen item of major expenditure on manses and l or to be able to (x)ntinue, in the short term. fvnding planned activities in the event of any inabilrty to raise the full Circuii Assessment from churches. In addrtion, funds held in the Circuit M¢)JeS Trust Fund will be applied for the work and misslon of (ircuit Statemerrt of TnAStees' Responsibilittes The trustees are responsible for weparing the TnJstees' annual report and financial statements in accordan with applicable law and United TrQngdom Accounting Standards {Unrted lQngdom Generally Accepted Accounting Practi￿). The law applicable to charities in Engknd and Wales requires the trustees to P￿pare financial ststements for each financial year whith gÉve a bwe and fair view of the state of affairs of the charty and of the incoming resources and applicats.on of resour￿ of the chanty for that per￿. In preparing these statements, the trustees are required to". select suitable accounting FX)IKies and then appty them consistently" ob*rve the methods and principles in the Cha¥ities SORP 2015 {FRS102).' make judgements and ests"mates that are reasonable and pNden( follow applicable a(uunting slandards. prepare the finanaal statements on the going (X)r￿eM basis unless it is inappropriate to PlB5ume that the Charity will continue in Opera￿n. The trustees are responsible for keeping proper accounting records that disclose wrth reasonable accuracy at any time the financial posth.on of the chanty and enable them to ensure that the financial statements comply with the Charibes Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible fof safeguarding the assets of the chatty and hen￿ for taking reasonable step5 for the prevenbon arKI det￿In of fra￿1 and other irregulartb"es. Auditor We wsh to place on record our thanks to our Auditor. Shaw Gibbs (Audit} Limited, Ac￿untants and Business Advisers, who have been appointed auditors for the ensuing year. Declaration The Trustees. ReFQrt and the Financial Statements are appyoved for presentatbon to the Trustees. Signed.. Kathy Flynn 16 Jun 2026 EddE Fowier 16 Jun 2026 Acting Superintendent Minister Circurt Steward & Treasurer The Methodist Church. West Oxfordshire circuit-Tr￿steeS Re￿)rt for the year ended 31 August 2025 West Oxfordshire Methodist Circuit- 2024-25 - ndix A CIRCUIT MEEfiNG MEMBERSHIP USTEES 1. Circuit Leade￿h1 Team CIRCUff STEWARDS lan Cotton {SeniorCS lo 31AW25J Rosemary Bntton (& SafegUa￿￿ng) Eddie Fowler (& T￿?￿￿) Martin Hannant (to OWY261 Val tkwhue RKhard BOW￿ (fm 0lfi)V25) MINISTERS Revd Andrew Biggs Revd Jason Cooke (to 31mir26J Revd lan Worrall Ito 31KW25) Revd Sue Jacobs (fmm 01￿4) Revd Kathy Flynn (fr<¥n Olm9￿5) 2. Other Cir¢uit A intments FORMER VICE PRESIDENT OF CONFERENCE Stella Bristow wrrNEY TOWN CEPtrRE LEAD CHAPLAIN Sonia Duraturo LOCAL PREACHERS & WORSHIP LEADERS Julje Biggs (Secrgtary CIRCU￿ PROPERTY SALES OFFICER lan Cotton (hw) 0IAW25J 3. Church Re resenlatives BAMPTON METhODIST CHURCH Matthew Wareham Raena Farley CHARLBURY MEfHODIST CHURCH Sheila Farmer (to 31W25) Gill Grason (to 31mVi5) CHIPPING NORTON MEtHODIST CHURCH David WrKJdccMS( (to 3tKIV25) Sue Tokumine (to 31￿25) DThJg Paxton Aan Souch DAVENPORT RD. WITNEY MEfHODIST CHURCH Linda South Judith Bucknall Martin Hannant (fr￿￿ OW26) Helen Adams Jacky Milner Robert Ayws HIGH STRE￿. ¥vrrNEY MEfHODIST CHURCH Jane Heath (to 31/W25) Jonathan Miller Keith Crawford Mary Jordan (10 3110￿￿5) CARTERTON METrIODIST CHURCH Kart Willkqms Jan Hilion Carol Port Pat FARINGDON UNftED CHURCH Ltz Kilpatrick Derek jer￿￿e Tracey L￿diard (frMI 0lh)9n5) LONG HANBOROUGH MEtHODIST CHURCH N￿e1 James Andy Gower Chas Simpkins Valerie Tee MINSTER LOVELL m￿MoDIsT CHURCH Mary Willis Dawn Haiey Graham Kew STONESFIELD MEtHODIST CHURCH Kathken Mbert Claire Watton Bru￿ Andersc Sylvia Bareham WESTCOTE MEfHODIST CHURCH John Bentley Mary McDougal Helen Blight The Methodist Church, West Oxfordshire fjrcuit-Tnstees Re￿rt for the year ended 31 August 2025 Independent AUdit0￿S Report to the Trustees of The meth￿lIst Church. West Oxfordshire Circuit Opinion gNe a true al￿ frdWVPW strale as a31 2￿25. 115 ￿cE￿nIng arKI We(rKXI￿ aud* IT*errith SlaTrkn ￿ ALKli1￿ (UK) (ISIS (UK)) and 8p¥*£t￿ seclvxts ofthis r￿>￿t ReFXYtsl 21XJ8 rewire to rerxyt to IF, akematNe tyjt to ￿. ReasonabÉ assur*K* ts a hvjh d&SUra￿ t&rt is a gu*a[rt￿ that an audrt *cordarte are consKI￿￿ materAI rf. inthhjualty ry in Ihe c¥JukJ ￿ te eX[￿d to Infvje￿ the IrrwJuLarftes, I[￿Ud￿g fra￿￿, in￿r￿￿ d n(￿-(n￿orKe1￿ ￿ aKJ regulathjns. We rxctedures in 1. At the planning sl4e ofthe a￿11[*￿ w an urKknstarKlry arKJ wuknns whth appty trj the thanty and W the manawi&tt s*k to (>Thpty￿th a￿1 rgJutstk)n& This he￿ us lo p&n Becaw of the inherenl l•nrtaiK*)s OF an ajdc there is a r￿￿ tw wil rKrt irrwJul*ii*s. i)dLKling those A further descriptnn ofc¥Jr res[X￿ the FRCS ¥￿Ite at h .'11vA￿v.fr￿o .ukJauditorslaudit- assurancejauditor-s-res Orsibili=.ies-lo,_l•e-a￿ort-c-_1he-fbdescr1 t..on-af-*th&aLJdiloffkE2%80%99s- sili1rt￿10r. Use of our reFK This rerxwt k8 nK* W to tr* charWs tr￿t￿. a% a Part 4 (rfthe ChwitE5 {A￿unts and Rerxytsl R&JuL*￿% 2Crf)8. ChJraLvJit vth ha5 iEen un(Èrt*en so that muht st* to the tharitys trLStees tkn5e matt￿5 V￿ are requ￿ed to slatelo them wi an aU(litL￿S reF*Niand frA no cAher purtKEe. To the fvlw extent 16 Jun 2026 Shw Gibbs (Audlt) Limlled (&alukny Audil(x) 264 BanI￿ry R(￿ OXf￿d OX2 7DY Sh￿• Gil*6 {AJyJit) duthfc(aF•t as a￿yts rfthe th*ity by its dIj￿￿tyf0r AR2 ¢D P4 ¢7b ri ¢71 (o (n O C) ¢n ri 00 O r4 mOIrtthrn r4 (Th ri C¢> Or4 A Tr- O O O WJ Oi ￿ (il i rl) c¢i (Th o rt r4 IYJ ¢0 ￿ fo op O v4 o o n of the properties ha5 not changed materially between valuation date and the year end. Note 4: Glossa oftem CFB: Central Finance Board of the Methodist Church manages a Common DeF¥)Sit Fund and a series of pooled investment funds for Methodtst entrties in Great Britain and provides investment att4Yice to those entities Church: a group of members from fewerthan 10 to more than 3C rcuit: a grouping of Meth(Klist Churches usualty in a defined area neareach other. typically between 10 and 30 Clrcutt Meetinr. The trustees of the ￿rCuIt. most of whom are appointed by their local Churthe5 and others iry virtue of a role they undertake for the Circuit andlor their kxal Churches CLT {Qrcuit Leadershlp Team): A group {comprising mostly. but not exdusively) of Qrcuit trustees Tesponsible for the day to day administration and policy fwmulation of the Circuit. Generally the CLTcomprises the Presbyters and Deacons ststioned within the Circuit, the Grcuit Stewards and CLT Secretary (who is not a trustee) CMTF: Circuit Model Trust Fund Imaintained with TMCP-see below) Conne¥ion: The Methodist Church in GB whKh indudes the Head Ofke at Methodist Churth H24- 111 churches and each is assessed for a contribution to meet the overall net costs of the Circuit. far as possible, the Circuit aims to cover all its net core costs from the assessment The annual assessments for each church included in these accounts were as follows= General Fund Bampton Carterton Charlbury Chipping Norton/ Churthill Davenport Road Faringdon High StreetlNewland Long Hanborough/Sutton Minster Lovell 8.533 11.893 3.482 27.518 17.946 14.988 93387 21.096 4.516 8.050 11.220 25.960 16.930 14,140 88,1 4.260 F56 The Methodist a7urth. West Oxfordshire Circuit Note5 to the Financial Statements for the year endi￿ 31 August 2025 Stonesfield Westcote Total 2.067 1,950 7.830 £204,910 £213.726 Note 7: Se rate material items of imome The figure shown represented the rent receNed in ￿SpeCt of two mar￿. which We￿ not being used by fjrcuit staff. This source of income ceased during the previous year to enable one manse to be prepared ft)r a new minister whose arrival in the Circuit wa5 in August 2024: and the other manse ha5 L￿n prepared and athertised for sale as the Circuit has no further use for it. The sale of this latter manse eventually took place in 28 March 2025. Note 8: Other charitsble income The only incoffle this year underthis heading 15 the rent on the lease for the Burford t￿rial ground. as follow5- 2024-25 2023-24 753,225 Netst71e p￿￿edS of Burford Methodist Church Netlandsale proceeds bysirtton Methodist Church 822,797 Less.- CPFLe¥ies Net property sales Rent on lease for Burford burial ground (see Note 8.1) Total 535,593 iiwj Note &1: O rati Lease in connection wtth the gle of Burford Methodist Church Burford Methodist Church had a plot of land behind it wh￿h had been turned into a garden for the church many years ago. This land had been used in the past as a burial sround but the gravestones had been placed around the edge of the land WTth the ￿levant perniissions. In the light of this the burial ground was not allowed to be sold as freehold. The Circuit was required to transfer title by means of an 0￿ratIng lease for 999 years, w¥th an annual rent payable to the arcust each Deomber in advan￿ ofthe following year of £l(Kl. The Operating Lessor Note is therefore a5 follows= BurÈal Ground lease Oxfonlshtre-75 High StreeL Burford Total Vfrthin BIFwd l year 2 to 5years £99.489 £1 5 years E98.989 999 years from 22July 2024- £IIXI per annum. paid Dpceml Note 9: Grants and donations During the year, grants and donations were made as folknvs: Carterton Methodist Church Sanctuary Garden -port of theirpioneering project Sutton Methodist Church (from proceeds of land 5alel Miscellaneous donation The Fund for the Support of Presbyters & Deacons (onn. donotionj The M￿hod*st Fund for Property (onn. doffwtionj Z024-25 2023-24 25.267 23,1(Xl 25 £2230 £49392 Note IlTr. Salaries and associated costs Salaries linduding Stipends) Stipends were paid to 4 Ministers1202>24- 51. Salarie5 are paid to lay staff. the Town Centre Lead Chaplain and the Circuit Administrator. IMJth of whom a￿ employed on a part-time basis. In addition a charge was made by the Methodist Payroll Bureau for use of the bureau bythe fjrcuit for lay staff. The costs of these are shown below. Genefal Fund 20￿25 2023-24 Ministers. Stipends lindudin8 alk)wan￿) 128,010 125,905 Pension Fund contributions (Stipends) 24,816 30.136 National In5ufdnce contributions IStÉpendsl 13.826 11.099 Lay employees. Salaries 21.594 14.211 lay employees, Pension Fund costs 1.424 1,615 National Insurance contributions 514 Apprenticeship Lewes 701 Methodist Payroll Bureau Total £19￿￿ FS7 The Methodist Churth, West Oxfordshire Circuit Notes to the Finanaal Statements for the year ending 31 August 2025 At Year*nd- Number of ewnployee5 Number of Ministe￿ re￿Iving a stipend No employees ￿CeNed employee benef￿ of more than £￿I.(￿X). There is no accmal for holiday pay as it 15 immaterial: the holiday year ends on 31 AugusL All Members of staff are paid at or above the living wage. 10.2 Pensions Most ordained presbyters and deacons are membef5 of the Methodist Ministers. Pension Scheme IMMPSI. Thi5 is a defined ￿nefit scheme. The Supreme Court held in 2014that Methodist Ministers (which tenn includes presbyters and deacons) are not employees of the Church. Forsimplicrty. however. when dealing with National Insuran Contribution5 and pension contributions. the terms'employer. and 'employee' are used as they would be in an employing body. For 2024125. the rdte of the employerfs penston COntribut￿nS was 20%12023124- 26.9%). The Connexion accounts forthe pensK)n scheme and shows the ftures in the annual Meth￿l$t Church in G￿at Britain accounts. A Workpl￿ pension with The People's Penwn is provided for lay employees. 2024-25 202>24 10.3 Cost of Superintendent, Ministers and Tn￿teeS The four Ministers stationed by the Methodist conferen￿ in the Circuit. t(yetherwith the Circuit Stewards form the membership of the CLT and a￿ considered the Key Management Personnel. The Superintendent Minister chairs meetings of the CLT and the Circuit Meeting. The meM￿r5 of the Circuit Meeting a￿ the trustees of the Cjrcuit. The Methodist COTrfe￿n￿. meeting annualfy in Juneljuty. approves the level of Stipends and All¢)wances payable forthe year teginning I Septemberfollowing for Meth(Klist ministe￿ IPresbytets and Deacons) stationed by the Conference. Stipends and Allowances are paMI to Ministers by the Connexional sti￿nds Office on a monthly basis. The stipends, allowances, employer's NIC and employerfs ￿￿510￿ contribLrtions are reimbursed monthly to the Methodist Stipends Office ￿ the CTrcuit. by means of direct debits daimed ￿ the Stipends OWice. Other expenses of the Ministers of the Circuit are paid by the Circuit. The standard stipend for the year commenang I September 2024. agreed at the 2024 Methodist Conference. was £31,020 p.a.12023124 £29,0401- It was also agreed that the Allowan￿ for being a Circurt Superintendent was 10% of the Stipend. i.e. £3,102 p.a.12023124 £2.9041. A Computers in Ministry ICIMI Allowance of £207 each12023/24 £1941 was also agreed. Payments to the Circuit minksteT5 lall Trustee51 weTE made as follow5 Stipend {2023/24J Sup't (2023/24) CIM Alvce (2023/24J Revd A Bw (Superintendent) £31,020 £(29.IMO) £3,102 £(2,9041 £207 £(194) Revd J Cooke £31,020 £(29,040J £207 £(194J Revd I WoThall £31,020 £{29,IMoJ £207 £(194) Revd S Jacob5 £31,020 £(29,040J £207 £(194J The manses a￿ provided by the Circuit and the Circuit maintsin5 the properties. The value of the Council Tax and water charges paid by the Qrcuit is not disck)sed here as HMRC does not regard this as a benefrt-in-kind in the hands of the minister. One part-time employee, Ms S Duraturo (Town cent￿ Lead Chaplain). is also a Trustee and she re￿F¥ed a salary for the year of £9,156, with pension contritmrtions by the fjr￿it of £549. Other Pa￿ents to Trustees Apart from the 4 Ministers who are Trustees and one min￿eT who ceased being a Trustee in August 2024 on leaving the Circuit. only one lay person who is a Tn￿tee was in receipt of any payment for travel undertaken on behalF of the CircuiL 2024-25 2023-24 Number of trnstees who were paid expenses Expense payments primarily ￿Late to reimbursement fortravel, statKsnery. telephone and computing costs. Mileage rates for travel are also set by Conferen￿. and for 2023124. these remained the same as for 2022123 (using the rates Set by HMRC), at 45plmile for cartravel for the first IOAUI miles in a year. NO￿ne reached 10,O(K) miles. Total amount paid to trustees £7.fkn5 £11.481 F58 The Methodist Church. West Oxfordshire arcuit Note5 to the Financial Statements forthe year ending 31 August 20Z5 Note 11: Pro {al Members of the Cir￿lt Meeting act as Managing TnJstees for frve manses, four of vthich are occupied by ministers stationed in the Circuit and the remaining property was sold during the year. In addition to insurance, repairs and rna1ntenan￿ to all the manses. the Circuit is ￿pOnsIble for the payment of Council Tax and Water charges forthose occupied by the ministers. In additton. the Qrcuit has responsibilty forthe upkeep of a closed thurch or rnanse building until st is able to be disposed of. Ibl The cost o* ongoing maintenance and improvements to all manses is funded through a designated °Manses Upkeep Fund" and transfer5 of income from certain investment funds, trsether with £16.1￿) p.a. from the General Fund are made to this. In the light of substantial refurbishment costs to one manse, and the rent of the Pioneer Ministerfs manse Iwhich ceased at the beginning of ALsgust 20251, there ss a year*nd deficit on the fund of £47.671 (Last yeor, £18,850). Part of this is being funded from the ￿rCuit MTF. Icl The Circutt arranges and pays for fNe-yearly lQuinquenniall building surveys and Electrical Reports IEICRS) to be undertaken on behalf of all the Circuit churches as well as forthe manses. All work reqUI￿d on the churches by these surveys És the ￿SponsIbl11ty of the Church Counci15. A similarfund to that ment￿ned in Ibl above is maintained for the costs of the Quinquennial surveys, with £5.(MX)transferred this year (Year-end balance £6.9251. 2024¥25 2023-24 21.911 23,075 62.8(K) 36.057 4.652 5,675 2.632 7.847 Insuran￿. Counul Tax. Water & Gas seNKe (a) Maintenance & repairs of Manses lal, Ib) Quinquennial suNeys {cl Letting costs (adjustment) Closed churches Costs Professional property aihfb T¢)tal 10,175 1.813 £101351 £75286 Note 12: Office ex enses Telephone & broadband Printing, postsge & stationery Total 2024-25 3.315 2023-24 2.5LX] 1.065 £3￿5 £3397 Note 13: District A5sessrnent & The Circuit pays an annual assessment to the Northampton District of the Methodist Church. The calculation of the assessment is based on the number of Methodist min￿terS Wrthin each circuiL together with the unrestricted cash balances hehl by each Cirajit in bank, CFB and CTrKtF accounts. The Levy is calculated on a sliding scale per￿ntage of the balance of the Circuivs CMTF at 31 August in the previous accounting year. The llet sale proceeds from most property sales a￿ trnnsferred to the fjrcuit Mixlel Trust (Cmn Fund. with a Levv for the Connexional Priority Fund ICPFI being withdrawn from that fundlry TMCP. The CPF shown below was in respect of the sale ofthe vrrtney. Burwell Meadow maTrse. 2024-25 Gen. Fund c￿ Fund Totsl 98,610 98.610 85.978 85,978 164.044 164.044 £98,610 £250022 £318￿32 202>24 Gefft Fund CMTFund 64.014 Total 64,014 57.381 District Assessment District Levy CPF Levy Total 57.381 £64014 £57381 £121￿95 The Methodist Churth. West Oxfordshire Circuit Notes to the Finanaal Statements for the year ending 31 August 2025 Note 14: Other oin General Fund Totol Fund Funds 202¢25 Funds Travel expenses Preaching fees IT costs Resour￿5 Removal costs Audit fee Training & conferen￿$ Mis￿lIaneOUS Total 5.566 1.770 1,296 1.856 i.no 1,2% 1,856 12,0 1,016 1.282 4,105 £28￿6 £4.105 12,IXKI 1,016 5.543 £32,647 41 £41 115 £1 202>24 Tmvel expenses PreochingAees ITcosts Resources Removol costs Auditfee Training & conferences Miscelloneous 5.610 5.610 2.580 1.483 607 3,430 12,( 607 3,430 3,549 2513 £29.939 Q513 ioi 6.199 £32 Note 15: Ta "ble Fixed Assets TMCP is the legal owner and Custodian Trustee of all Meth￿l15t Mrylel Trust pmperty. Trust property 15 held for and on behalf of IcKal Managing Trustees who a￿ responsib￿ for the day to day management o* such tnjst property. TMCP ensu￿5 that. through providing guidan￿ and acting under their direction. the Managing Trustees comply with charity law and Methodist law and wlity as detennined iry the Methodi%t Conference. In June 2025, a valuation was carried on all the manses held ty the Circuit. Thts vèluation is used as the basi5 of the revaluatK)n to fair value at the year end.. Properties- Manses Valuation Balance brought forward Additions / Idisposalsl in year Revaluation in year Balance tarried forward - being Revalualion at 31 August 2025 Other Fixed Assets- During the two year5 covered bythese accounts, no other fLxed assets are- or have been held by the Circuit. In addition. there have been no addrtions or transfers of fixed assets during the same period. Depreciation- No depreciation is provided on the freehold properties-see Note 2.7 Manse properties 202>24 2,966,255 1459,7801 143.525 Q650,(K#) 2.973,323 17.0681 £1966.255 year fwd. Hurdeswell, Long Hanborough (deemed 3V081151 271,4( 638.442 Cherry Tree Way. Wwtney Icost ort 2012) 447,237 614.796 Burwell Meadow. Wttney (cost Aug 20131 339.504 459.780 1459,780) Berryfield Way, Carterton Icost Jul 20151 446.897 591,150 33.850 625,(KJO Wesley Manse, Chipping Norton Ideert*d OV(wJnoi 418.59) 662,087 37.913 7￿,[1X) Totsl £L923.628 £2.966.255 £{459,7801 £143525 £2.650.QLKI The manse at Burwell Meadow in Witney, being no longer required for Circuit purposes was sold in March 2025 for £480,(MXI. After costs of sale and the ￿ to the Meth(xlist Connexional Prtority Fund. the net amount receNed by the Circuit was £3(￿.065. 36.558 35,204 675.CKM) 650.r FSIO The Methodist Church, West Oxfordshire Qrcuit Notes to the Finanaal Statements for the year ending 31 August 2025 N¢)te 16: Fixed Asset Investmnts- Ma Funds These funds are hekl by TMCP in units in a CFB Managed Mixed Fund and a CFB Managed Fixed Interest Fund Isee aLso Note 17 below). A5 Stated in Note 15 {atthTel. TMCP is the legal owner and Cust(Klian Trustee of all Methodist Model Tmst property, which includes Legacies. Endowments and Acojmulated Funds. 2025 2024 2.C¥B Securities not listed on a rec¢¥dnised Stock Exthange Other investments Change in inveslment values Carrying Imarketl value at beginning of year Net gainlllossl on revaluation Carrying Imarketl value at end of y&r (No aldiliorts or disposals) The Funds and end of year waluètions summarised above are as follows: arrent Grff CFB Managed Mixed FurKI- Valuation- 125 units @ £5.427 {£5.417) lodei frust8equestsl- CFB Managed Mixed Fund- Valuation- 125 units @ £5.427 (£5.4171 CFB Managed Fxd Int Fund- Valuation- 368 units @ £1.7221£1.7621 2,(X)3 1.875 128 £L9 2024 678 677 678 634 £L9Y> 678 £Z(K Note 17 Fixed Asset Investments- Interest Funds The followingfunds are held by TMCP in TnJstee5 Interest funds on whKh interest is credited to the accounts each month (see also Note 16 aly)vel. Totsl Fund Funds Circuit Model Trust Fund ToogThid Memorial Fund Pocock Bequest W411mer Bequest Model Trust Bequests I Model Tnjst Bequests 2 Totsl 1.329,870 1329,870 2.402 io.( io.( 31.059 31.059 2.378 2378 £33A37 £1376209 £1329.870 £￿9)1 2024 Circuit Model Trust Fund Toogood Memori¢71 Fund Pocock Bequest Willmer Bequest Model Tnjst Bequests I Model TrustBequests 2 Total 1.263.038 1.263,038 2,3(X) io.( 51XI 31.059 31,059 2.378 2.378 £33 437 £IJ09275 iO,t Note 18: Debtors Debtors and prepayrnents a￿ all Unrestrbcted Debtors Prepayments Stipends, pensions. Nl Utilities Olher prepayments 2025 98 2024 76.564 14,502 3.289 1,874 £llO563 13.764 3.821 326 £91,475 Totsl Fsii The Methodist Church. West Oxfordshire arcuit Notes to the financial Statements for the year ending 31 August 2025 Note 19: Loans to Churches Loans to churche5 Within the Circuit may be granted ￿ the trustees for a varth of purposes. Funds for larger loans are sourced from the CMTF and are interest free. The asset. however. is Carr￿ in the General Fund. The balance of £4,657 showing at 31 August 2024 vras cleared on 16 September 2024. Church Repaid/ Balance cleared carried in year forward brougl Burford Totals Sep 2023 omvards open open 4.657 £4￿57 {4.6571 £14,657) Notes 20 21: Cash on De General Fund Funds 2025 Fund5 CFB Deposit account MCA Deposlt accounts: Earty Legary I Early Legacy 2 Totsl 25382 25.382 250 250 £850 £26,232 2024 CFB Deposit account MCA Depo&t accounts.. Early Legocy I Eorly Lego(y2 rotal 26A58 26.&58 250 250 £26A58 £27.708 Note 21: Cash at bank and in hand General Fund Funds CAF Bank General Fund Local Preachers Fund HSBC BanK Wstney Total 29.676 29.676 1,328 2,71XI £33,704 1,328 £32376 £1328 2024 CAFBonk General Fund Locol Preachers Fund HSBC Bank. Witney Totol 28,421 1,328 I2,￿3 1.328 12.9)3 £41J24 Note 22: Creditors This consists of credito￿, accruals and income r￿1ved in advan￿. It is expected that all sums accrued at 31 August 2024 will be paid during the year to 31 August 2025. The income re￿iVed in advance consists of assessments from churches which relate to the first three wK)nths of the year 2024-25. Income in Advance 2025 Assessments in advance 22,413 Ministers, and other expenses 407 Property costs Utilities Audit Other creditors Totsl 2024 21.409 967 3.587 1.861 12.LW 832 £40,656 1,340 12.(MX) 6,3 £43584 FS12 The Methodist Church. West Oxfordshire Circuit Notes to the Finanoal Statements for the year ending 31 August 2025 Note 23: Ca . I C<¥mmitments and Conti Liabilities At 31 August 2025 the Circuit had no capital commitments. No contingent liabilities were identified at 31 August 2025. However. in September2021 the Circuit Meeting agreed a grant of up to f 250.(KM) capttal w(Yk on Carterton Methodist Church where pioneer work is being undertaken. to be paid from the Circuit Model Trust Fund. Note 24: Unrestricted Fund5 Balance at 31 August 2025 2024 24.1 General Fund £124.737 £126,658 The purpose of the General 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 purposes. The Circuit Meeting is aware t￿t any grant appltcatM)ns must denK)nstrate public benefrt. 24.2 Property Resef¥e5 Property Reserve Icost & Deemed Values) 1.923,628 Property Revaluation Reserve 1.042,627 Total Value £2,966255 As a result of the revaluation of the manses which took place in June 2025, the Property Revaluation ReseNe has beeri created to Show the revaluation of the fixed assets concerned. To enable this to take place with all the previous years, comparative accounts included with the 2023-24 accwnts. the accounts forthe Yea￿ 2021-22 and 2022-23 have been restated (See Notes 2.7, 15 & 281. 1,584,124 I,065￿76 24.3 Circuit Model Tn￿t Fund £1.329A70 £U63.038 The purpose of the Model Trust Fund is for use at the discretion of the trustees in the furtheran￿ of the general objectives of the Circuit. Its main source of income is legacie5 and fomiulaically deterniined contributions from the sale of manses and church bjitdings in the CircuFt. Although this 15 technicèlty an Unrestricted Fund under the control of the Circuit Meetin& prior approval may still be reqUI￿d from the Distritt to utilise these funds. Methodist Standing Orde[5 930. 931 and 917121 are applicable. Note 25: Restrirted and Endowment Funds 2025 2024 Restritted Funds Balance at 31 August £14.230 £14,128 Endowment Funds Balan￿ at 31 August £36277 £36290 The restricted and endowment funds exi%t to support the causes listed below. All the fijnds, assets lexcept those restricted fvnd5 which are managed localfy and those dep)stts held with MCAI are managed by TMCP and the net income lafter charges) is paid direct to the administrators of the fund. Each fundlssted below is categorised according to the following key: IEEI- {Expendable Endowmentl Capital available with restritt￿5 IPE}- IPermanent Endowmentl Capital unavailable IRLI- ILocally Restricted} Capital and interest aydilable Local Preathers Fund {RL)-This is held in the Orcuit CAF Bank current aCc￿nt and is restricted to provide support for the work of the Circutt Leaders of Worship and Preachers Meetin& Toogood meM￿la1 IEE)- Both capital and interest are available foF use ty the fjrcJit for Educational Purposes. J Pocock Bequest IPE}-The interest is used to SUp￿}rt Crcuit Manses. Willrner Bequest IEE)- The interest from this fund is available for general Circuit purwse5 wrthout restriction. The capital is available wtth restrictions. A request was made that this bequest be treated as a Permanent Endowment. However. thls is not a legal direction. w the Trust is fully available to the CircuiL J V Earty Legary l {RL)-Thi5 is held in a dep05tt account wtth mc￿ The interest is used to support Circuit Man￿. J V Early Legacy 2 {RL}- This is held in a deposit account with mc￿ The interest is used for the general work of the Circuit. Model Trust Bequests I IRLJ-The income from this fund is used to support Circurt Manses. Mr & Mrs E Tarrent Gift {PEI- The income on thi5 LS available forthe general purpose5 of the CIr￿lt. and is allocated to support Circuit Manses. Model Trnst Bequests 2 (RU- The interest from this fvIKI 15 Used forthe general WO￿ of the Circuit. Transfers out of these fvnds relate to the interest income re￿ived less eX￿ndItUre which is perniitted for the use of general charitabFe activities. These funds arE all to be subject to review as to the way that they are used and whether there can be further amalgamation. FS13 The Methodist Church, West Oxfordshire Qrcuit Notes to the Finan