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2025-08-31-accounts

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

(Charity Registration No. 1134222)

TRUSTEES’ ANNUAL REPORT

&

FINANCIAL STATEMENTS

For the Year ending 31 August 2025

Contents

Ø Annual Report

Ø Appendix “A” - Reserves Policy

Ø Financial Statements (separate document)

Page 1 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

1. Objectives and activities

In setting our objectives and planning our activities The Circuit Meeting (under the leadership of the Circuit Leadership Team [CLT]), as Circuit Trustees, meets at least three times in each year, has carefully considered the Charity Commissioners’ published guidance on public benefit and conforms to the Charities Act 2022.

Our mission and calling is to respond to the Gospel of God’s love in Christ and to live out its discipleship in worship and mission. In furtherance of this, we will use the circuit’s resources to:

We regard the circuit’s role as a supportive, encouraging body between individual Churches, District and Connexion. Our desire is to encourage our churches in their mission in their own settings in recognition of their diverse geographical, cultural and socio-economic settings. bWe aim to be sensitive to the particular needs of each church with regard to allocation of presbyteral, lay, pastoral and admin resources

2. Achievements and performance

During the 2024-5 year, the Circuit, led by the Circuit Leadership Team, embarked on a process of listening to each other and to God, which led to the formation of a transitional Circuit Mission Plan for the forthcoming year. We defined our vision to be a Christ-centered Circuit of vibrant, growing churches supporting each other in expressing God’s love and sharing it with others.

We are committed to an ongoing review of our mission objectives in consultation with our churches. We are conscious that our mission objectives need to reflect, acknowledge and support the mission of each of our churches as it is in each of their unique settings that most mission and outreach is carried out. We are keen to encourage supportive relationships between like-minded churches, churches of similar geographical situations or similar community need.

To this end representatives from 17 of the Circuit’s churches attended a Discernment Meeting in March as the start of the listening process, sharing ideas which helped shape a Listening Day. The Listening Day in April brought together 106 people representing all the churches of the Circuit. This was a day of worship, fellowship, discussion, listening and eating together which enabled churches to be part of the missionplanning process. A wealth of insight and ideas were contributed to inform the planning process and marked a significant step forward in the shared journey of listening, learning and shaping our future together.

A mission month, ‘Circuit Alive’ was held May-June in which outreach and mission events across the Circuit were advertised to enable people to experience what was going on in different churches, to share ideas and encourage and support each other.

Page 2 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

Other achievements

We intend over the forthcoming year to continue to listen to, encourage and support churches in their own individual journeys and to discern priorities for the allocation of the gifts and time of ministers, lay employees and volunteers to ensure the best use of the resources available to the Circuit in order to meet our mission goals.

In the context of the above, it was with sadness that in June the Circuit Meeting, at the request of the Eaton Bray church, accepted the responsibility of the ongoing upkeep of its premises pending a sale by the Circuit. The Eaton Bray members will continue to meet as a church community and are continuing to discern how they will do this.

Under the heading, Collaborative arrangements with connected charities (3.3 below) there is information on how we obtained our funds. In this paragraph, we show how they were spent. The money collected, or available for disbursement, was used exclusively for the following purposes

Through our Circuit Model Trust Fund (CMTF) we make grants to support Circuit churches in their work in their local communities. Such grants may be for specific mission related projects or to assist with property projects. The Circuit may also make grants direct to external bodies, for example, to assist with ecumenical projects.

The policy of the Trustees on grant making is to ensure that all applications can demonstrate public benefit, pass a test of sustainability, show that there is a commitment from the applicant organisation (e.g. the Circuit grant is only a part of the total funding) and show imagination and creativity as well as a perceived need for that which the grant is being applied.

Page 3 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

Details of the grants made in this financial year are set out in the attached Financial Statements. It should be noted that it is the Circuit policy to provide for the full amount of any grant, in the year of commitment, even if the drawdown of such grant is over an extended period.

Churches that have received grants from the Circuit will show these in their own Trustees’ Annual Report (where this is required to be prepared) along with details of their achievements from the activities undertaken because of receiving the grant.

3. Financial Review

The Financial Statements are included as part of this Report and give a full and detailed disclosure of the income and expenditure of the Circuit covering our Unrestricted Funds (including Designated Funds) and Restricted Funds. There were two significant events during the year. Firstly the completion of the sale of the Luton Road church premises. We reported last year that as at 31 August 2024, contracts had been signed and exchanged with a deferred completion.

Secondly, over the past few years the Circuit’s performance against budget has been favourable and as a result the General Reserve is significantly in excess of policy. We have therefore agreed to reduce this reserve by returning the surplus funds to the churches. We expect to complete this exercise by the end of January 2026.

The Circuit has the following principal sources of funds which are used to administer the Circuit:

The Trustees of the Circuit have every reason to believe that the Circuit is a going concern, principally because Churches continue to meet their Assessments and the Circuit has adequate reserves to cover a shortfall in anticipated income. There are no subsidiary undertakings. Trustees do not foresee any factors that will significantly affect the financial performance or position in the next year or two. However, the trustees are conscious that the Circuit is dependent upon the Assessment on churches to maintain its current overall level of staffing. Therefore, we have systems in place to monitor the financial health of our churches and recognise that the overall financial resources of churches are finite.

3.1 Investment Policy and Performance

To comply with Methodist Standing Orders, monies for long-term investment are lodged with the Trustees for Methodist Church Purposes (TMCP). TMCP acts as custodian trustee for all real estate held by Circuits and for all large (over £20k) bequests and for the proceeds of sale of any property formerly owned by the Circuit. These sums are invested in unlisted investments or held on deposit. The investment returns are close to tracking movements in the FTSE 100 index. The deposit income mirrors the deposit rates available elsewhere. The Circuit Trustees’ investment policy is aligned with that of the Central Finance Board of the Methodist Church (CFB) and TMCP because these organisations take onto consideration the social, environmental and ethical issues (both positively and negatively) that make investments suitable for the Methodist Church.

Page 4 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

Short term deposits, not required for immediate cash flow, are lodged directly with CFB and attract good rates of interest.

There are no other benchmarks for the expected returns on investments at TMCP and CFB. The objective for the Circuit is a rate of return at least as good as market rate considering the trustees’ low appetite for risk.

3.2 Reserves Level and Policy

This is set out as a separate document and appears at Appendix “A”

3.3 Collaborative arrangements with connected charities

The Circuit’s main source of funding is the Assessments obtained from each Church within the Circuit. The Assessment is based on a formula which utilises the membership of each church and factored net income. The net income calculation is designed to take into account the relative costs of heating, lighting and insurance, together with a notional allowance for repairs and maintenance in order to place each church on a comparable baseline.

The Circuit holds no funds as custodian trustees. It does, however, receive on an ad hoc basis funds from Churches for Methodist Connexional Funds. These sums are collected as agent for The Connexion and are passed to the Connexion on a regular basis. In addition, the Circuit may receive grant monies from both the District, and/or the Connexion where an application has been made by the Circuit to fund an external organisation. Such funds received by the Circuit are not recognised in the Financial Statements because the funds are not within its control. No fee is earned in respect of the agency arrangement and the Circuit incurs no cost through this arrangement.

4. Future Plans

The Circuit’s strategy for the future is contained within its “Next Steps” initiative. In essence this involves determining our evolving mission strategy and adapting it to meet changing circumstances within our churches.

No small part of this is ensuring that our stated mission strategy can be delivered within our available financial resources. In this connection, as a matter of policy, we strive to fund our day to day regular expenses from current income. We are generally averse to subsidising normal operating costs from reserves (usually generated from the sale of capital resources).

Given, our operating income is almost wholly provided by the churches within the Circuit, we monitor very closely the ongoing financial health of our churches. Recognising that since Covid individual church finances are under pressure, our “Next Steps” initiative is to restructure the Circuit so that it can successfully operate with a reduced compliment of ministers. The plan is to reduce the number of full time equivalents to four by September 2026.

Page 5 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

5. Trustees’ responsibilities

For each financial year ending on 31 August the Trustees are required to prepare financial statements which give a true and fair view of the Circuit's financial activities during the year and of its financial position at the end of the year. In preparing these financial statements, the Trustees must:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Circuit and enable them to ensure that the financial statements comply with the law. They are also responsible for safeguarding the assets of the Circuit and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Circuit’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

6. Structure, governance and management

The Circuit is an unincorporated charitable association governed by the Methodist Church Act 1976, the Deed of Union and the Model Trusts of the Methodist Church and was registered with the Charity Commission on 9 February 2010 (previously registered as Chiltern Downs Methodist Circuit under the same number).

The primary purpose of the Circuit is to advance the mission of the Church in South Bedfordshire by:

The purposes of the Methodist Church are and shall be deemed to have been since the date of union the advancement of:

(a) the Christian faith in accordance with the doctrinal standards and the discipline of the Methodist Church

(b) any charitable purpose for the time being of any Connexional, district, circuit, local or other organisation of the Methodist Church

(c) any charitable purpose for the time being of any society or institution or subsidiary or ancillary to the Methodist Church; any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church.

6.1 Organisational structure

Page 6 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

Superintendent Minister(s), ministerial staff and Circuit Stewards via the medium of the Circuit Meeting.

Certain matters, principally those relating to property issues, need to be referred to the District (and the Connexional office - through the Trustees for Methodist Church Purposes [TMCP], acting as Custodian Trustees), but most matters are determined by the Circuit Meeting itself.

The Circuit operates with a Circuit Leadership Team (made up of Circuit Stewards, Ministers and certain Lay Employees) which evolves policy and makes recommendations to the Circuit Meeting.

The South Bedfordshire Methodist Circuit comprises 18 churches located in Luton, Dunstable, Leighton Buzzard and the surrounding villages. They are listed below:

Aley Green Barton Beech Hill Edlesborough &
Kensworth
Farley Hill Dunstable, The Square Eaton Bray High Town
St John’s Gravenhurst Harlington Olive Tree (St Margarets
LEP)
Strathmore Avenue Leagrave, High Street Leighton Buzzard, Toddington
Trinity
Newland (Methodist Oakdale
URC LEP)

6.1.1.1 Trustees

The Managing Trustees are the elected members to the Circuit Meeting. Owing to the number of individual churches in the Circuit and the fact that the majority of the Circuit Meeting members are those elected by individual churches, the make up of the Meeting is subject to frequent changes. The names of the trustees who served during the Connexional year 2024/25 are listed at 7.6 below. A current list of Trustees can be found on the Charity Commission website.

7. Reference and Administrative Details

7.1 Name of the charity

The South Bedfordshire Methodist Circuit

7.2 Charity registration number

1134222, registered in England and Wales

Page 7 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

7.3 Principal Office

Office 3, Hightown Methodist Church, 49 High Town Rd Luton Bedfordshire, LU2 0BW

7.4 Superintendent Minister Rev Patrick Kandeh

7.5 Circuit Bursar

Mr David Hallworth ACIB 7 Windsor Close Flitwick MK45 1PT

7.6 Names of Trustees

(who served during the year)

Alderman,Valerie Fleming,Marjie Lathwell,Gloria Prowse,Jo
Alfred,Kaelanne Grant,Madit Lear,Joy Quine,Colin
Anokye,Michael Gray,Anne Li Lim,Yen Roberts,Jackie
Antwi,Joshua Green,Sheila Liburd,Sted Roe,Brian
Arscott Smith,Fiona Hare,Michael Lupi,Claudia Rogers,Steve
Baker,Albert Hare,Rosemary Marsden,Sheila Rollings,Jan
Baker,Peter Haynes,Tim Mathison,Pearl Roots,Catherine
Ball,Richard Henley,Gillian McFarland,Jane Salmon,Christina
Bell,David Henley,Michael McHenry,Ian Salmon,Clive
Bell,Jeanne Higgens,Liz Meader,Ann Sear,David
Berry,Linda Hodder,Hellen Mills,Loess Sheehan,Cathy
Best,Geoff Hornsby,Janet Mitchelmore,Debbie Sherwood,Joanne
Bibbings,Nigel Horsefield,Charles Mitchelmore,Ivor Shields,Brenda
Borgars,Marion Hulance,Andy Muthusami,Rajakumar Sibindi,Monica
Bradley-Marriott,Gloris Hulance,Wendy Nelson,Janice Simon,Maria
Brooks,Ruth Husband,Emelda Nelson,John Sissons,Terry
Bye,Cathy Ible,Cyril Newman,Margaret Smith,Alan
Cassidy,Ann Illott,Terence Opoku-Gyamfi,Ishmael Smith,Julie
Collett,Barry Jardine,Gillian Owers,Roger Stanford,Tania
Copcutt,Julie Joels,Helen Patterson,Hazel Stokes,Sue
Croft,Anne Jung,Seung-Wook Patterson,Lawrence Thompson,Glynnis
Doody,Pauline Kandeh,Patrick Penn,Sue Waller,Ken
Edwards,Ivor Kay,Sheila Pepworth,Christine Wallis,Martin
Edwards,Wallace King,Pat Plews,Liz Wilson,Alison
Pollard,Sheila Winchester,Celeste

Page 8 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

7.7 Bankers The Co-operative Bank plc Central Finance Board of the Methodist Church PO Box 250 9 Bonhill Street Delf House London Skelmersdale WN8 67WT EC2A 4PE

7.8 Investment Managers Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ

7.9 Independent Examiner Theresa-Anne Warren GP Financial Management Ltd., 8 The Old Yard Lodge Farm Business Centre Wolverton Road Castlethorpe Milton Keynes MK19 7ES

7.10 Quinquennial Inspectors

Cube Building Consultancy Ltd Suite 2, Franklin House 2 Steppingley Road Flitwick MK45 1AJ

Approvals

The Trustees’ Report and the Financial Statements were approved by the Circuit Leadership Team and were presented to the Circuit Meeting on 24 February 2026

Patrick Kandeh(signed) David Hallworth(signed)
Rev Patrick Kandeh
Superintendent and Chair of Meeting
February2026		 David J Hallworth ACIB
Circuit Bursar
February2026

Page 9 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

APPENDIX A

The South Bedfordshire Circuit

Reserves Policy 2025/26

This document includes all funds held by the Circuit Meeting as charity trustees.

Our Reserves Policy relates to our general (unrestricted) funds which are available to be used for any or all of the purposes of the Circuit. It also notes the management of our restricted and endowment funds.

Other funds are also included for the sake of clarity and openness and to show that the Circuit has a policy for the management of all of its money not simply that which is defined as reserves.

Aim

Our aim is twofold:

(1) To secure and sustain the Circuit’s viability and future.

(2) To give reassurance to the general public that the Circuit, which is a charity, intends to use all of the money coming into its care for the purposes of the charity.

Mission Policy

Our financial resources help us to underpin the Circuit’s Mission by:-

(a) The support of the ministry and mission of the local churches in the Circuit, including ministerial oversight, outreach opportunities and mission projects some or all of which may be unrelated to capital expenditure

(b) The support of a ministry team of presbyters, a part-time Circuit bursar a part time Circuit administrator and a part time Circuit Workers the numerical mix of which is determined by our staffing strategy which is reviewed annually.

(c) The maintenance of the eight Circuit manses, including two let externally at a market rent.

(d) Supporting mission-oriented building projects, repairs and alterations.

Financial Plans

The Circuit’s Unrestricted Funds also includes the Circuit Model Trust Fund (CMTF). However, Connexional approval has to be sought to confirm any proposed use of these CMTF funds is in compliance with Standing Orders.

The Circuit Assessment is reviewed annually and provides substantially towards the overall Circuit costs. It is based on an agreed formula which seeks to ensure that each church pays a level of contribution which is proportionate to its peers. The Circuit Meeting is the final arbiter of the Assessment contribution from each church. Circuit Reserves may also be used to help meet these obligations; in particular to part fund lay personnel costs.

We make provision for our property maintenance programme by budgeting £32,000 (£4,000 per manse), as a contribution to a Provision Fund, to maintain our manses.

Page 10 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

Subject to the constraints of our Reserves Policy (below) grants or loans from reserves are also available to support new and existing mission projects and may also be available for building repairs and projects provided the applicant church has a strong mission focus and can demonstrate financial viability. It is not always possible to predict when such grants might become necessary, as a church might suddenly need a short term loan to enable work to proceed expeditiously. Generally, we will contribute, up to 50% of project work. Such grants are subject to our Circuit Model Trust Fund policy (see below) and the availability of uncommitted funds held.

Local Church Council approved applications for Circuit funds will be made to the Circuit Leadership Team (CLT) for evaluation and support and then brought before the Circuit Meeting for approval or otherwise.

RESERVES POLICY

Introduction

The Circuit has a wide cross section of Funds some of which are unrestricted (including designated Funds) and others are restricted.

The “Funds at a Glance” attached to this document is an integral part of our Reserves Policy and should be read in conjunction with it. As a general principle, we now quote our closing Fund balances on an uncommitted basis. That is to say that at the close of each financial year any known and agreed future commitments are provided for in full. Therefore, at any given time the level of uncommitted resources can be clearly seen

Unrestricted Funds

General and Designated Funds

The General Fund at £165,172 (excluding tangible assets, Designated Funds and loans to churches) represents about 5 months budgeted expenditure. Our policy is to hold about 3 months of gross expenditure as a reserve, and this is considered to be the absolute minimum and falls short of the Connexional recommendation of 6 months. However, it effectively caters for the default of all churches not paying their Assessment in the same quarter – the chances of this are considered highly unlikely.

If General reserves fall below our target, we will seek approval from the Circuit Meeting to make up any shortfall from either or a combination of:

  1. an increase in Assessments the following year.

  2. A portion of the sales proceeds of any properties sold or in the course of sale

  3. A transfer of funds from the CMTF

If General Reserves are above the target 3 months cover of normal gross expenditure, the surplus will be either:

  1. Transferred to the CMTF

  2. Held as a surplus reserve and depleted to the target level the following year by setting a deficit budget. This would effectively reduce the formula calculated Assessment on churches.

  3. Returning the surplus to the churches.

Designated Funds are effectively sinking funds or provisions against future expenditure in key areas. Every year and for each of these funds, transfers are made from the General Fund. The transfer amount is reviewed each year as part of the budgeting process.

The Quinquennial Inspection Fund is a Designated Fund. Every five years we obtain a fixed price contract to cover inspections due in the following five years. The amount charged for each church/manse differs as do the number of inspections in any given year. However, each year, we apply a transfer from our General Fund equivalent to one fifth of the overall five year fixed cost. This means that It is possible that in some years this fund may be shown as “overdrawn”. In such cases we ensure that there is sufficient funding in our general Fund to cover the shortfall.

Page 11 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT – TRUSTEES’ ANNUAL REPORT 2025

Circuit Model Trust Fund (CMTF)

Our policy is to use this resource in accordance with Methodist Standing Orders. However, under local discretion our policy is to allocate a percentage of these funds for “Mission & Outreach Projects” (or more generally new growth initiatives). The percentage so allocated is reviewed on an annual basis and may be amended in the light of overall calls on the CMTF during the preceding year and/or future initiatives being planned. We allocate 70% to “Mission & Outreach Projects” and 30% to other potential calls on the funds. The total uncommitted funds stood at £446,775 as at 31 August 2025

Restricted Funds

Chapel Street Fund is restricted for use on Luton Town centre projects. The final grant from this fund was made in 2024/25 and save for a nominal balance is effectively closed.

Lye Trust - is a permanent endowment legacy, the income on which is specifically for use as a Circuit Benevolent Fund. The interest of circa £1,200 p.a. is distributed (as and when requited) for relief of the poor in the Circuit via the Benevolent Fund

Benevolent Fund – income sourced from the interest from the Lye Trust as above.

Circuit Music Fund – expendable endowment.

Circuit Drama Fund – restricted. Ex Luton Circuit Fund

Circuit Education & Youth Fund – restricted. Ex Luton Circuit Fund. (funded £500 p.a. from General Funds)

Page 12 of 12

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT (Charity Registration No. 1134222)

FINANCIAL STATEMENTS

For the Year ending 31 August 2025

Page 1 of 30

Name of Circuit: South Bedfordshire

Circuit No: 34/04

Statement of Financial Activities (SOFA) for the year ended 31 August 2025

Notes
Income and Endowments
1 Donations and legacies
2 Income from Monetary Investments
3 Income from Investment Property
4
4 Income from charitable activities
5 Assessments on Churches
5
6 Captial Receipts
6
7 Grants
7
8 Other charitable activities
9 Total from charitable activities
10 Other charitable income
11 Total charitable income
12 Other income
8
13 Total income and endowments
Expenditure
Expenditure on charitable activities
21 Grants and donations
9
21a Future instalments of grant
9
21b Grant instalments provisions released
9
22 Salaries and associated costs
10
23 Property
11
24 Office expenses
12
25 District Assessment & Levy
13
26 Other outgoings
14
27 Total charitable expenditure
31 Net Income before investment
gains/losses
32 Net gains/(losses) on Monetary
Investments
15
33 Net gains/(losses) on Property
Disposals/Revaluations
15a
34 Net incoming/(outgoing) resources
before transfers
35 Transfers between funds
16
36 Reclassification of funds
17
37 Other gains/(losses)
18
38 Net movement in funds
39 Total funds brought forward
50 Total funds carried forward		 Unrestricted Funds Restricted &
Endowment Funds		 £
39,584
15,585
389,076
444,245
444,245
28,287
472,532
22,478
(16,330)
289,401
62,381
5,965
104,110
5,867
473,873
(1,341)
80
42,886
41,625
0
41,625
2,659,981
2,701,607
Total 2024-25
General
Circuit Model
Trust
Designated
£
£
£		 Restricted
Endowment		 Total
2023-24
£
£		 £
10,501
15,200
22,675
468		 1,241 21,782
15,585 14,660
389,076 356,888
3,480
419,861
22,675
468		 1,241 407,311
419,861
22,675
468		 1,241 407,311
16,760
5,514		 6,014 25,063
436,621
28,189
468		 6,014
1,241		 432,374
21,330
458		 690 20,671
60,000
(16,330) (31,795)
289,401 282,881
29,977
32,274		 131 66,587
4,793
978
33		 161 4,481
90,284
13,826		 84,380
5,867 9,821
420,322
19,805
32,764		 821
161		 497,026
16,299
8,384
(32,296)		 5,192
1,079		 (64,653)
80 3,112
42,886 38,575
16,299
51,270
(32,296)		 5,192
1,159		 (22,966)
(205,981)
164,745
39,264		 2,991
(1,020)		 0
(189,682)
216,016
6,968		 8,184
139		 (22,966)
2,229,235
230,759
146,576		 3,788
49,623		 2,682,947
2,039,553
446,775
153,544		 11,972
49,762		 2,659,981

Page 2 of 30

Name of Circuit: South Bedfordshire

Circuit No: 34/04

Balance Sheet as at 31 August 2025

Fixed Assets
Circuit Manses & Equipment
BS1
Investmentproperties
BS1
Investments
BS2
Totalfixed assets
Current Assets
Debtors
BS3
Loans bythe Circuit
BS4
Trustees for Methodist Church Purposes
BS2
Central Finance Board Deposits
BS5
Cash at Bank and in hand
BS5
Total current assets
Creditors(due in under 1year)
BS6
Grant instalments due in 2024-25
BS6a
Net current assets/liabilities
Total assets less current liabilities
Creditors and Accruals including any loans
(due after more than 1year)
Grant instalments due after 2024-25
BS7,9
Net assets
Funds of the Circuit
General Fund(Unrestricted)
BS8.1
Circuit Model Trust Fund(Unrestricted)
BS8.2
Designated Funds(Unrestricted)
BS8.3
Total Unrestricted Funds
Restricted Funds
BS9
Endowment Funds
BS9
Total Funds		 Unrestricted Funds Unrestricted Funds Unrestricted Funds Restricted &
Endowment Funds		 Restricted &
Endowment Funds
General Circuit
Model
Trust		 Designated
£		 Restricted Endowmen
t		 Totals 2025 Totals
2024
£ £ £ £ £ £
1,524,381 1,524,381 1,709,381
350,000 350,000 350,000
43,421 43,421 43,341
1,874,381 43,421 1,917,802 2,102,722
22,483 22,483 23,875
439 439
503,775 10,000 6,341 520,116 317,300
116,334 260,456 10,717 387,507 383,134
127,210 (116,795) 1,255 11,670 15,140
266,466 503,775 153,661 11,972 6,341 942,215 739,449
101,294 117 101,411 108,860
12,000 12,000 16,330
165,172 491,775 153,544 11,972 6,341 828,804 614,259
2,039,553 491,775 153,544 11,972 49,762 2,746,607 2,716,981
45,000 45,000 57,000
2,039,553 446,775 153,544 11,972 49,762 2,701,607 2,659,981
General Fund(Unrestricted) 2,039,553
Circuit Model Trust Fund(Unrestricted) 446,775
Designated Funds(Unrestricted) 153,544
Total Unrestricted Funds 2,639,872 2,606,570
Restricted Funds 11,972 11,972 3,788
Endowment Funds 49,762 49,762 49,623
Total Funds 2,039,553 446,775 153,544 11,972 49,762 2,701,607 2,659,981

Page 3 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT STATEMENT OF CASH FLOWS For the year ended 31 August 2024

Total 2025 Totals 2024 Totals 2024
£ £ £ £
Cash flow from operating activities
Net cash from operatingactivities (107,623) 237,860
Cash flow from Investing activities
(Payments)to acquire fixed assests
Payments to acquire investments
Receipts from sales of Investments
Interest & dividends received 39,584 21,782
Rent from investment/letproperties 43,872 39,723
Net cash flow from Investing activities 83,456 61,505
Cash flow from financingactivities
Net cash flow from financing activities
Net increase/(decrease) in cash and cash equivalents (24,167) 299,365
Cash and equivalents at 1 September 2024 715,574 416,209
Cash and equivalents at 31 August 2025 691,407 715,574
Analysis of cash and cash equivalents
Cash at bank and in hand 919,293 715,574

Reconcilation of net income/(expenditure) to net cash flow from operating activities

Net Income/(expenditure) for theyear 41,625 (22,966)
Interest & dividends received (39,584) (21,782)
Rents received (43,872) (39,723)
Netgain onpropertydisposals (42,886) (38,575)
Depreciation of tangible assets
(Gains)/losses monetaryinvestments (80) (3,112)
Decrease/(increase)in debtors 1,392 (526)
Decrease/(increase)in Loans (439) 6,000
(Decrease)/increase in creditors (7,449) 11,763
(Decrease)/increase inprovisions (16,330) 28,205
Net cash flow from operating activities (107,623) (80,715)

Page 4 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2023

1 & 2 Policies and Terms

Basis of accounting and accounting policies

i Accounting standard

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011

ii Public benefit entity

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

iii Basis

These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. The accruals basis has been used and trustees present accounts that show a true and fair view of the Circuit’s financial position and activities.

iv Content

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research and judgement. The accounts are expressed in £Sterling, rounded to the nearest pound.

v

This clause is intentionally blank

vi Going concern

Based on the monetary assets and human resources available at 31 August 2025, the trustees believe that the Circuit is a going concern.

vii Consolidation

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

The financial statements have been prepared in accordance with Accounting and Reporting by Ch

Page 5 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2023

viii

Income recognition

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

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

The Circuit acts as agent in two matters:

the collection from Churches and payment over of their contributions to various Funds controlled and administered by The Methodist Church – “Connexional Funds”

the administration (application, collection and disbursement) of grants requested by Churches within the Circuit from, but not limited to, the District and Connexion

In all these matters the transactions are not reflected in the SOFA because they are the income of either the Connexion or Churches as appropriate. Instead the transactions are disclosed in the Notes to the Accounts as required by SORP(FRS102), module 19.12.

In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised. Further information on this matter is provided in the Trustees’ Annual Report. If goods are donated, a value will be shown in the SOFA or Notes where the value is considered material.

ix Grants (Received)

Grants received from external sources (including Connexional and/or District grants) are shown as income. Where an application to TMCP is made (and approved) to use monies held in the Circuit Model Trust Fund and/or Restricted/Endowment Funds for a specific Circuit project, the funds so approved are, where relevant, shown as transfers between funds. More details are provided in Note 9

x Expenditure

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

xi Grants (Given)

Grants made by the Circuit from its own funds are recognised in full at the time of agreement to make a grant without performance conditions or as and when the Circuit accepts that there is a legal or operational obligation to make the payment if it is subject to performance conditions. When the grant to be accrued is recurrent over more than one year the balance payable in future years, discounted to net present value where the difference is material, is treated as a provision for future commitments in the balance sheet against the appropriate fund, the provision being released in future years in accordance with the originally agreed terms. In cases where the grant has been charged to one fund but for ease of payment has been transferred to another fund any future payment provision is applied to the fund from which the grant will ultimately be paid.

Page 6 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT Notes to the accounts for the year ending 31 August 2023

xii

VAT

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

xiii Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £250.

The freehold and/or long leasehold residential property is shown in the accounts at deemed cost representing each property’s gross carrying value as at 1 September 2015, being that property’s insurance reinstatement value resulting from a professional valuation undertaken by Trudgill & Co in 2011/12 and subsequently adjusted up to and including 31 August 2014 or, if acquired after that date, at its insurance reinstatement value at the date of acquisition. No depreciation is provided because the trustees consider the current residual value of the property in its present condition to be not less than its historical cost and, in the absence of any evidence of impairment, any depreciation provision for the buildings component of the property would be immaterial.

From time to time the Circuit may be required to assume responsibility for Church premises following closure and cessation of worship. This results in the Circuit becoming Managing Trustees for the property. At that time the property is recognised as an asset at its anticipated net sale price as determined by a professional valuation and after taking into consideration the levy to be charged by the Connexion. Any expenditure on such assets, if held for reinvestment of the proceeds, as the trustees determine, that is likely to enhance sale value is capitalised at the time the expenditure is incurred. Where the proceeds are intended to be spent on activities, the property is included in current assets at the lower of cost and realisable value. The Circuit has made use of the deemed cost option on transitioning to FRS102, as outlined above.

xiv(a) Monetary Investments

The Circuit’s investments are in monetary assets classified as basic financial instruments under FRS102 and are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. The valuations, at market value, are those provided by TMCP. The unrealised gains arising on investments at the end of the year are shown in the SOFA and in Note 15 below

xiv(b) Investment Property

From time to time the Circuit may hold residential property (manses) which is surplus to its normal staffing requirements. Where this is the case and it is anticipated that the property is unlikely to be used as a manse within a period of 2 years, the property is classified as Investment Property (whether let out or not) and if let, it is so at market rates unless there is a compelling reason not to do so in furtherance of the Circuit’s charitable objectives. Any such cases are specified in Note BS1 below. Such properties are valued at fair open market value after reference to local professional estate agents and valuers.

Page 7 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2023

xv Receivables and Payables; Bank and Cash (Basic Financial Instruments)

Debtors are stated at the amounts owed to the Circuit or prepaid. Creditors are initially recognised at settlement amount after any trade discounts, where normal credit terms apply, or

amount advanced to the Circuit. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid. The liquid funds of bank balances and deposit fund balances are shown at their realisable values.

xvi Loans as Basic Financial Instruments

Where concessionary loans ( i.e. free of interest) are made to [or received by] the Circuit to further its charitable purposes, and are repayable after more than one year, they are initially recognised at the amount paid [or received], with the carrying value adjusted in subsequent years to reflect repayments and any accrued interest, adjusted for any impairment, if necessary.

Where there is objective evidence of impairment, an immediate impairment loss is recognised in the Statement of Financial Activities. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in the Statement of Financial Activities.

Where loans require the calculation of a discounted cash flow valuation, this will be so marked.

xvii Methodist Connexional Funds

The Circuit acts as agent for Methodist Connexional Funds (Connexional Funds) in the collection from Churches and payment over of their contributions and ad hoc collections for various Funds controlled and administered by The Methodist Church – “Connexional Funds

xviii Funds

The trustees have adopted a policy for all unrestricted reserves which can be found in the main section of the Trustees Annual Report.

xvix Endowment funds

Where the Circuit holds money that may not be spent and must be retained (as capital) to generate an income the money or assets to be retained are classified as an Endowment Fund. The capital will be shown in the balance sheet in the column for endowment funds. The income may be restricted or unrestricted depending upon the terms of the endowment.

xx Ministers' manse costs

The Circuit is required to provide accommodation for each minister in the Circuit and their families and this is seen as a benefit to the Circuit. Ministers are expected to occupy the manse provided for them. The Circuit bears the cost of repairs, maintenance, buildings insurance, Council Tax and water charges. These figures are not separately disclosed as benefits-in-kind for ministers as HMRC does not seek to tax these receipts in the hands of ministers.

Page 8 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2023

2 Glossary of terms

CFB: Central Finance Board of the Methodist Church manages a Common Deposit Fund and a series of pooled investment funds for Methodist entities in Great Britain and provides investment advice to those entities

Church: a group of members from fewer than 10 to more than 300 Circuit: a group of Methodist Churches near each other, typically between 10 and 30 Circuit Meeting: The trustees of the Circuit, most of whom are appointed by their local Church and others by virtue of a role they undertake for the Circuit and/or their local Church

CLT (Circuit Leadership Team): A group (comprising mostly, but not exclusively) of Circuit trustees responsible for the day to day administration and policy formulation of the Circuit. Generally the CLT comprises of the Presbyters stationed within the Circuit, the Circuit Stewards and Circuit Bursar (who is not a trustee)

CMTF: Circuit Model Trust Fund

Connexion: The Methodist Church in GB which includes the Head Office at Methodist Church House, all Methodist Districts, Circuits and Churches in Great Britain

Connexional Funds: The Designated and/or Restricted Funds held and administered by the Connexion in furtherance of its charitable and mission objectives.

District: a group of contiguous Circuits, usually between 15 and 30 DAF: District Advance Fund

FRS: Financial Reporting Standard HMRC: Her Majesty's Revenue and Customs

LAY EMPLOYEES: Non presbyteral staff employed on either a full or part time basis and on formal written contractual terms.

MMPS: Methodist Ministers’ Pension Scheme

PASLEMC: Pensions and Assurance Scheme for Lay Employees of the Methodist Church

Page 9 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

3.1 Comparative SOFA forming part of previous year’s accounts

Income and Endowments
1 Donations and legacies
2 Income from Monetary Investments
3 Income from Investment Property
4 Income from charitable activities
5 Assessments on Churches
6 Captial Receipts
7 Grants
8 Other charitable activities
9 Total from charitable activities
10 Other charitable income
11 Total charitable income
12 Other income
13 Total income and endowments
Expenditure
Expenditure on charitable activities
21 Grants and donations
21a Future instalments of grant
21b Grant instalments provisions released
22 Salaries and associated costs
23 Property
24 Office expenses
25 District Assessment & Levy
26 Other outgoings
27 Total charitable expenditure
31 Net Income before investment gains/losses
32 Net gains/(losses) on Monetary
Investments
33 Net gains/(losses) on Property
Disposals/Revaluations
34 Net incoming/(outgoing) resources before
transfers
35 Transfers between funds
36 Reclassification of funds
37 Other gains/(losses)		 Unrestricted Funds Restricted &
Endowment Funds		 Total
2023-24
General
Circuit Model
Trust
Designated		 Restricted
Endowment
£
£
£		 £
£		 £
10,501
21,782
14,660
356,888
3,480
50
10,200		 251
17,144
2,684		 1,954
14,660
356,888
3,480
388,742
2,684
10,200		 3,731
1,954		 407,311
388,742
2,684
10,200		 3,731
1,954		 407,311
22,598
1,000		 1,465 25,063
411,340
3,684
10,200		 5,196
1,954		 432,374
20,671
60,000
(31,795)
282,881
66,587
4,481
84,380
9,821
19,295 1,376
60,000
(31,295) (500)
282,881
29,459
29,424		 7,704
4,327 154
84,380
0
2,959
3,031		 3,830
404,006
48,000
32,455		 12,410
154		 497,026
7,334
(44,316)
(22,256)		 (7,214)
1,799		 (64,653)
3,112 3,112
38,575
38,575
7,334
(5,742)
(22,256)		 (7,214)
4,912		 (22,966)
0
(261,465)
212,890
53,830		 4,199
(9,454)
38 Net movement in funds (254,131)
207,148
31,574		 (3,014)
(4,543)		 (22,966)
39 Total funds brought forward 2,682,947
2,483,366
23,611
115,001		 6,803
54,166
50 Total funds carried forward 2,229,235
230,759
146,576		 3,788
49,623		 2,659,981

Page 10 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

3.2 Balance Sheet as at 31 August 2022

3.2 Balance Sheet as at 31 August 2022
Fixed Assets Unrestricted Funds Restricted &
Endowment Funds		 Totals 2024
General Circuit
Model
Trust		 Designated Restricted Endowmen
t
£ £ £ £ £ £
Circuit Manses & Equipment 1,709,381 1,709,381
Investmentproperties 350,000 350,000
Investments 43,341 43,341
Totalfixed assets 2,059,381 43,341 2,102,722
Current Assets
Debtors 23,875 23,875
Loans bythe Circuit
Trustees for Methodist Church Purposes 301,018 10,000 6,282 317,300
Central Finance Board Deposits 130,092 23,571 218,405 11,066 383,134
Cash at Bank and in hand 123,369 (20,500) (81,527) (6,203) 15,140
Total current assets 277,336 304,089 146,879 4,863 6,282 739,449
Creditors(due in under 1year) 107,482 303 1,075 108,860
Grant instalments due in 2020-21 16,330 16,330
Net current assets/liabilities 169,854 287,759 146,576 3,788 6,282 614,259
Total assets less current liabilities 2,229,235 287,759 146,576 3,788 49,623 2,716,981
Creditors and Accruals including any loans (due
after more than 1year)
Grant instalments due after 2020-21 57,000 57,000
Net assets 2,229,235 230,759 146,576 3,788 49,623 2,659,981
Funds of the Circuit
General Fund(Unrestricted) 2,229,235
Circuit Model Trust Fund(Unrestricted) 230,759
Designated Funds(Unrestricted) 146,576
Total Unrestricted Funds 2,606,570
Restricted Funds 3,788 3,788
Endowment Funds 49,623 49,623
Total Funds 2,229,235 230,759 146,576 3,788 49,623 2,659,981

Page 11 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

Note 4 Income from Investment Property

The trustees have determined that the property listed below is unlikely to be returned to use as manse in the foreseeable future and have therefore classified the same as an Investment Property. Letting income is shown gross of fees and commissions.

General CMTF Desig Restricted Endow Total 2024
Letting Income:
18 Clarence Road 15,585 15,585 14,660
Totals 15,585 15,585 14,660

Note 5 Assessments on Churches

The Circuit comprises of 19 [Mount Pleasant closed during the year] (20) churches and each is assessed for a contribution to meet the overall net costs of the Circuit. In making it's Assessment budgeted income from investment income (including property letting) and confirmed external grants is taken into account. The Circuit aims to cover all it's net core costs from the Assessment.

An Assessment on Churches is annually determined by the Circuit using a formulaic method which takes into account the relative number of members in each church and its relative income (after deduction of certain actual and notional expenses). Assessments on churches are quarterly in advance and are treated as pre-payments on a receivable basis. If any church has not paid its assessment by the due date the sum in question is also treated as a debtor. Such cases are detailed in Notes BS3 and BS6

Church
Aley Green
Barton
Beech Hill
Eaton Bray
Edlesborough
Farley Hill
Gravenhurst
Harlington
High Town
Kensworth
Leagrave High St
Oakdale
St Johns
Olive Tree
Strathmore Ave
The Square
Toddington
Trinity
Newlands
**Total **		 General
CMTF
Desig
Restricted
Endow
Total
2024
13,100
13,100
11,548
8,464
8,464
7,100
18,576
18,576
16,768
13,316
13,316
11,720
7,424
7,424
6,092
14,692
14,692
9,648
5,692
5,692
6,380
21,112
21,112
19,176
22,872
22,872
21,072
8,172
8,172
6,852
34,752
34,752
31,568
17,580
17,580
16,164
30,212
30,212
27,332
13,508
13,508
13,968
11,032
11,032
13,316
61,424
61,424
58,108
17,724
17,724
15,944
62,640
62,640
58,492
6,784
6,784
5,640
389,076
389,076 356,888

Page 12 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

Note 6 Capital Receipts

Nil

(2023/24 - Nil)

Capital Receipts (closed churches)
CPF Levy on Property Sales
Selling Agents Fees
Legal Fees
Surveyors Fee
GPF Reclaimed Grants
Totals		 General
CMTF
Desig
Restricted
Endow
Total
2024

Note 7 Grants Receivable

Connexion
District Model Trust Fund
Other Grants
CMTF re Covid Assess Relief
Luton Road Church Closing Bal		 General
CMTF
Desig
Restricted
Endow
Total
2024
3,480
3,480
General
CMTF
Desig
Restricted
Endow
Total
2024
7,793
1,000
6,014
6,014
1,465
5,514
5,514
16,660
16,660
14,805
100
100
Note 8 Other Income
Reimbursement of Manses dilapidations
Mount Pleasant - reimburse of fees
Luton Road - reimburse of fees
Balances from closed churches
Rental Income Bolingbroke Road
Unknown bank credit
16,760
5,514
6,014
28,287
25,063

Page 13 of 30

Notes to the accounts for the year ending 31 August 2025

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Note 9 Grants & Donations

Grants and donations as listed below were agreed and/or made during the year. Where a grant has been made from the Circuit Model Trust Fund, Restricted or Endowment Funds and the grant monies are for use within the Circuit they are treated as a transfer between Funds with the purpose detailed in Note 16. The tables below (one for each Fund type) detail the new grants agreed and paid over this year, this year's instalment of grants agreed in prior years and the future instalments of grants to be paid. More information can also be found in Notes BS6a, BS7, BS8 and BS9 below

The support costs for grant-funding to third parties are insignificant and are not separately disclosed

Grantee/Donee
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward
Connexional Funds
Totals
Grantee/Donee
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward
Circuit Churches
Circuit Worker
Toddington (Mission Enabler)
Stratmore Ave
5,000
(5,000)
Barton
Olive Tree Youth Worker
Houghton Regis Project Grant 1
Houghton Regis Project Grant 2
Totals
5,000
(5,000)
Grantee/Donee
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward
Training
458
(458)
Malzeard Road Garage Conversion
Assess EQ released
Totals
458
(458)
Grantee/Donee
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward
Benevolent
690
(690)
Education & Youth
Totals
690
(690)
Grantee/Donee
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward
Ecumenical Community Worker
Olive Tree Community Worker
Youthcape Worker
Totals
This Year New
This Year New
This Year New
This Year New
This Year New		 This Year New General
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward		 Unpaid
brt fwd
Paid this
year Ext
Paid
Internal
Tfr
Carried
forward		 Total Paid
Ext
Total Paid
Int Tfr		 Grand
Total
This Year New Circuit Model Trust
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward		 Unpaid
brt fwd
Paid this
year Ext
Paid
Internal
Tfr
Carried
forward		 Total Paid
Ext
Total Paid
Int Tfr
(2,500)
(5,000)
(10,830)
(3,000)
(21,330)		 Grand
Total
5,000
(5,000)		 2,500
(2,500)
10,830
(10,830)
60,000
(3,000)
57,000		 (2,500)
(5,000)
(10,830)
(3,000)
73,330
(16,330)
57,000		 (21,330)
This Year New Designated
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward		 Unpaid
brt fwd
Paid this
year Ext
Paid
Internal
Tfr
Carried
forward		 Total Paid
Ext
Total Paid
Int Tfr
(458)
(458)		 Grand
Total
458
(458)		 (458)
(458)
This Year New Restricted
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward
690
(690)		 Unpaid
brt fwd
Paid this
year Ext
Paid
Internal
Tfr
Carried
forward		 Total Paid
Ext
Total Paid
Int Tfr
(690)
(690)		 Grand
Total
(690)
(690)
This Year New Endowment
Agreed
Paid
External
Paid
Internal
Tfr
Carried
forward		 Unpaid
brt fwd
Paid this
year Ext
Paid
Internal
Tfr
Carried
forward		 Total Paid
Ext
Total Paid
Int Tfr		 Grand
Total

Page 14 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT Notes to the accounts for the year ending 31 August 2025

Note 10 Stipends and Salaries and Associated Costs

Stipends

Stipends were paid to 6 Presbyters [5.50 fte] (2023-24 [5.75 fte]) and were as follows

National Insurance Contributions
Pension Fund Contributions
Stipends
Sundry Expenses & PC Allowances
Telephone
Travelling
Computers in Ministry
Removal, Stationing & Relocation Costs		 Full Time
(4)
Part Time
(2)
General
CMTF
Desig
(Ministers)
Restricted
Endow
Total
2024
13,874
4,593
18,467
18,467
16,159
24,816
9,450
34,266
34,266
44,918
127,182
47,250
174,432
174,432 169,884
22
22
22
21
3,245
1,251
4,496
4,496
4,221
5,254
2,898
8,153
8,153
7,304
1,449
1,449
1,449
1,164
175,843
65,442
241,285
241,285 243,671

The Circuit employs lay staff involved in both Administration and Missionwork. The costs of these staff are shown below in their separate categories.

Administration Staff Bursar
Admin
PA
807
84
12,953
9,996
108
1,333
135
Part Time		 General
CMTF
Desig
Restricted
Endow
Total
2024
891
891
422
22,949
22,949
20,946
108
108
46
1,333
1,333
896
135
135
2,550
Nat Ins
Salary & Allowances
Travel
Pension costs
Ex Gratia for Stand In Volunteer
Contracted Hours (pw)
13,760
11,655		 25,415
25,415
24,861
15
15
n/a
Part Time
Circuit
Workers x1
1,241
3,750
15,503
729
480		 General
CMTF
Desig
Restricted
Endow
Total
2024
1,241
1,241
754
3,750
3,750
15,503
15,503
14,083
729
729
546
480
480
480
Mission Staff
Nat Ins
Pension Conts
Salary
Sundry Expenses
Telephone
Travel
IT Allowances
Contracted Hours (pw)
Apprenticeship Levy
21,703 21,703
21,703
15,863
998
998
1,037
289,401
289,401 285,431

No employees received employee benefits of more than £60,000. There is no accrual for holiday pay as it is immaterial; the holiday year ends on 31 August. All staff are paid at or above the Living Wage, as directed by Methodist Conference.

Pensions

Most ordained presbyters and deacons are members of the Methodist Ministers’ Pension Scheme (MMPS). This is a defined benefit scheme. The Supreme Court held in 2014 that Methodist ministers (which term includes presbyters and deacons) are not employees of the Church. For simplicity, however, when dealing with National Insurance Contributions and pension contributions, the terms ‘employer’ and ‘employee’ are used as they would be in an employing body.

On the other hand lay employees are contractually employees and have the option of joining a pension scheme which the Circuit has arranged with The Pensions Trust. This is a defined benefit scheme and the Circuit contributes as employer to this scheme.

The Connexion accounts for both pension schemes and shows the figures in the annual Methodist Church in Great Britain accounts.

Page 15 of 30

Notes to the accounts for the year ending 31 August 2025

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Note 10a Cost of Superintendent, Presbyters and Trustees

The Superintendent of the Circuit, the other Presbyters and the remaining members of the CLT are considered as Key Management Personnel. The Superintendent chairs meetings of the CLT and Circuit Meetings. The members of the Circuit Meeting are the trustees of the Circuit. The stipends, employer’s NIC and employer’s pension contributions and other expenses of the Presbyters of the Circuit are paid by the Circuit.

The manses are provided by the Circuit and the Circuit 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 this as a benefit-in-kind in the hands of the minister.

Each Presbyter is entitled to a 3 month sabbatical every 5 years and the expenses incurred by the Presbyter are met by the Connexion with the Circuit continuing to pay the stipend. During the year there have been 0 sabbaticals. The Circuit does not accrue for holiday pay cover as the remaining staff cover the holidays as needed and without extra pay. Had additional cover been required the cost of this is estimated at £9,859 (being one quarter of a single standard stipend plus National Insurance, Pension and other normally incurred expenses

2024
£ £
Stipends of Presbyters[6 actual (5.50 fte)] 174,432 169,884
Employer's National Insurance contributions 18,467 16,159
Employer's pension contributions to a defined benefit pension scheme 34,266 44,918
Total cost 227,165 230,961

Payments to trustees

The Circuit has a published Expenses Policy which can be found on its website www.southbedsmethodist.org.uk/ It is generally not Circuit policy to reimburse non Presbyteral members of the CLT, Circuit Meeting and others involved in the administration of Circuit affairs for expenditure properly incurred in carrying out their duties. The Presbyters of the Circuit undertake the primary executive roles within the Circuit. Apart from the [6] Presbyters, Circuit Bursar, Administrator and Circuit Lay Worker no member of the Circuit Meeting or CLT was in receipt of any payment for work undertaken on behalf of the Circuit, although certain travelling, entertaining and administration costs were reimbursed in relation to specific projects.

Travel and entertaining expenses have been reimbursed to 0 (2023-24: nil) non-Presbyteral trustees (members of the CLT) who, in aggregate, have received the cost of travel incurred in attending meetings of the CLT and/or other related commitments and this amounted to £Nil (2023-24: £nil). The travel costs of Presbyters who attended CLT and Circuit meetings is included within their overall travel expenses (detailed in Note 6) and is not separately determined.

Page 16 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

Note 11 Property Expenses

The Circuit is Managing Trustee for 7 manses (2023/24 -7 ) and 1 (2023/24 - 1) investment properties. 5 manses are occupied by ministers stationed in the Circuit. The investment property (18 Clarence Road) was let for all of the year on an Assured Shorthold Tenancy. The property at 44a Bolingbroke Road is let on an Assured Shorthold Tenancy. With the exception of the let properties, the Circuit is responsible for the payment of Council Tax, Utilities, Water charges and Insurance.

The cost of ongoing maintenance and improvements to all properties is funded through a Designated "Manses" Fund and a transfer of £4,000 p.a. per manse is made from the General Fund. The level of transfer is reviewed by the trustees each year.

Expenditure on Manses & Investment (Inv) Properties

Manse
Unallocated
10 Danvers Drive
18 Clarence Road
18 Malzeard Road
44A Bolingbroke Road
46 Luton Road
5 Kingsley Road
6 Friars Walk
6 Linnet Way
Totals
Letting Expenses
18 Clarence Road
44a Bolingbroke Road
Totals
Other Property Expenses
Circuit Office Rent
Quinquennial Reports
Closed Chapels
Unoccupied Manses
Manse Rental (Temp)
Selling Fees
Totals		 Council
Tax
Insurance
Maint
Contracts
Water
Supply
3,272
423
255
353
2,774
838
835		 General
CMTF
Desig
(Manses)
Restricted
Endow
Sub Total
Repairs
Maint
Improve
Total
2024
3,950
449
4,399
4,161
353
7,586
7,939
2,282
4,448
10,321
14,769 14,042
351
536
887
2,244
3,748
606
4,354 10,170
2,816
171
2,987
4,648
4,909
3,171
8,080
6,181
4,238
7,100
11,338
4,305
351
2,789
333
626
2,265
395
156
3,486
513
909
2,895
363
980
17,482
3,570
3,761		 24,813
29,940
54,753 48,032
Agents
Other
Insurance
2,151
2,113

4,263		 General
CMTF
Desig
Restricted
Endow
Total
2024
2,151
2,151
2,023
2,113
2,113
2,148
4,263
4,263
4,171
Rent
Utilities
Others
900
2,334		 General
CMTF
Desig
(Quinns)
Restricted
Endow
Total
2024
900
900
900
2,334
2,334
5,592
131
131
7,892
3,234 900
2,334
131
3,365 14,384
Property Totals 29,977
32,274
131
62,381 66,587

Page 17 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

Note 12 Office & Administration costs

District & Conference Minutes
Entertaining
Ink &Toner
Bank Charges
Independent Examiner's Fee
Office Telephone & Broadband
Other Admin Costs
Stationery, Copying, Postage
Travelling Expenses - Circuit Stewards
Website
TMCP Admin/Investment Management Fees
Depreciation on Office Equipment
Insurance (General)
Payroll
Accounting Software Subscription
Plan Making Software Subscription
Office 365 Subscriptions
Totals		 General
CMTF
Desig
Restricted
Endow
Total
2024
409
409
849
598
598
474
1,500
1,500
1,500
62
62
17
31
31
52
243
243
243
978
33
161
1,172
154
935
935
186
480
480
480
180
180
180
346
346
346
11
11
4,793
978
33
161
5,965
4,481

Note 13 District Assessment & Levy

The District Assessment is calculated relative to the proportion of church members and staffing (Presbyters and Mission staff only) of all Circuits in the Beds, Herts & Essex District. 50% of the overall cost is calculated using relative membership proportions and 50% using relative staffing proportions.

The Levy is calculated on a sliding scale percentage of the Circuit's CMTF account balance as at 31 August the previous accounting year.

District Expenses
Methodist Church Fund (MCF)
Levy on CMTF Funds		 General
CMTF
Desig
Restricted
Endow
Total
2024
16,704
16,704 16,570
73,580
73,580 67,810
13,826
13,826
90,284 13,826
104,110 84,380

Note 14 Other Outgoings

Preaching & Worship:
Local Preachers & Lay Pastoral Expenses
Plan & Directory
Preaching Fees & Travel
Resources
Zoom Licences
Other Expenses:
Training Courses/Events
Mission Events
Miscellaneous
Totals		 General
CMTF
Desig
Restricted
Endow
Total
2024
1,613
1,613
1,496
1,088
1,088
938
458
458_6,861_
2,816
2,816
525
350
350
5,867
458
6,325
9,821

Page 18 of 30

Notes to the accounts for the year ending 31 August 2025

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Note 15 Investment Management

During the year the Circuit paid TMCP, the custodians of the Circuit’s investments (Circuit Model Trust Fund, Restricted and Endowment Funds) management charges based on 0.28% of the value of the individual funds at the beginning of the year. [None of the individual amounts is considered material but are listed in Note12 for information.]

Realised and Unrealised gains in the invested funds are listed below . More information can be found in Note BS9.

General
CMTF
Desig
Restricted
Endow
Total
2024
75
75 (1,673)
5
5
(112)
Chapel St Trust 18819
Lye Bequest for Poor Trust 3488
Lye Bequest Trust 5719
Circuit Music Fund Trust 16407
Benev (Local)
Drama (Local)
Educn & Youth (Local)
Circuit Model Trust Fund
Totals
80
80 (1,784)
Note 15a Property Disposals/Revaluations

The net gains or losses are detailed below.

Details
Mount Pleasant Church
Mount Pleasant Church CPF Levy
Luton Road Church
Luton Road CPF Levy		 Carrying
Sale
Reval
Gain (Loss)
2024
210,958
(172,383)
185,000
339,810
154,810
111,924
(111,924)
296,924
339,810
42,886
38,575

Page 19 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

Note 16 Transfers between Funds

The transfer between funds shown on the SOFA represents:

  1. Expenditure and/or grants that had been agreed out of one fund but paid out of another fund

  2. Investment income (net of charges) from Restricted/Endowment Funds which under the terms of the Funds may be used within Unrestricted Funds

  3. Sums that were transferred from one fund to another under the direction of the trustees.

Manse Fund
Ministers' Fund
Training Fund
Quinquennial Fund
Investment Income
Internal Grants (Ecumenical Community Worker)
Property Sales (net procceds from Gen to CMTF)
Education & Youth Fund
Benevolent Investment Income
Luton Road
Loan Repayments
CMTF Grants and Loans
Chapel Street
Mount Pleasant Fund
Circuit Worker
Totals		 General
CMTF
Desig
Restricted
Endow
Check
(32,000)
32,000
(3,400)
3,400
(500)
500
(3,800)
3,800
(164,745) 164,745
(500)
500
989
(989)
(1,502)
1,502
31
(31)
436
(436)
(205,981) 164,745
39,264
2,991
(1,020)

Note 17 Reclassification of Funds

Any fund whose classification has changed (e.g. Restricted to Unrestricted or vice versa) at the direction of the Circuit trustees or Custodian trustees is listed below.

Circuit property is always carried in the General Fund but upon sale the net proceeds are processed through the Circuit Model Trust Fund. This requires an adjustment and any such sales during the year are reflected below at the gross sale price

Details
[Insert details of fund to be reclassified]
[Insert details of fund to be reclassified - contra]
Totals		 General
CMTF
Desig
Restricted
Endow
Total
2024
General
CMTF
Desig
Restricted
Endow
Total
2024
Note 18 Other Gains or Loses
Are tabulated below
Details
Totals

Page 20 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

Note BS1 Manses & Other Property

Buildings comprise of 7 (7 -2024) manses located in Luton, Dunstable, Toddington and Leighton Buzzard and 0 chruch ( 1 at Luton Road, Dunstable)

Investment Properties are 1 manse ( 2024 -1 at 18 Clarence Road) at 18 Clarence Road.

Duringn the year the church at Luton Road was sold at a figure in excess of book value. The realised gain is accouted for eleswhere in these accounts.

Luton Road church was professionally valued by Jackson-Stops for the purposes of establishing its capital value as reported within these and previous financial statements. During theyear the sale completed at a gross price of £355,000. The resultant gain on book is accounted for in these financial statements.

Office equipment consists of Desktop/Laptop/Printers

1.1 Cost or valuation

Balance brought forward
Additions in the year
Revaluations (see Note 15a)
_Less:_Disposals in the year
Transfers between categories
Balance carried forward		 Investment
Properties
£
350,000
350,000


350,000
350,000		 Land
Buildings
Plant,
machinery
and motor
vehicles		 Land
Buildings
Plant,
machinery
and motor
vehicles		 Land
Buildings
Plant,
machinery
and motor
vehicles		 Fixtures,
fittings and
equip't
Assets under
Construction
Total
£
£
£		 £
£
1,709,381 5,707
1,715,088
(185,000) (185,000)
1,524,381 5,707
1,530,088
SL
3 YEARS
1.2 Accumulated depreciation
and impairment provisions
Basis
Rate
Balance brought forward
Depreciation charge for year
Impairment provisions
Revaluations
Disposals
Transfers
Balance carried forward		 N/A N/A SL SL
3 YEARS
5,707
5,707
5,707
5,707
1.3 Net book value
Brought forward
Carried forward
Schedule Of Manses, Investment
Property & Churches Closed for
Worship		 1,709,381 1,709,381
1,524,381 1,524,381
Value
232,017
232,000
276,424
182,336
178,215
204,999
218,390
1,524,381
Type
10 Danvers Drive
manse
6 Linnet Way
manse
18 Malzeard Road
manse
44A Bolingbroke Road
manse
46 Luton Road
manse
5 Kingsley Road
manse
18 Clarence Road
investment
6 Friars Walk
manse
Luton Road
church
Property		 Value
232,017
232,000
276,424
182,336
178,215
204,999
218,390
1,524,381

Page 21 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

Note BS2 Investment Assets (and Trustees for Methodist Church Purposes (TMCP)

The funds that support the Circuit Model Trust Fund and the Circuit's other funds (as listed below) are held by TMCP in Trustees Interest and/or ManagedEquity Funds on which interest and dividends are credited to the accounts each month/quarter. These are regarded as medium and long term investments.

TMCP is the legal owner and custodian trustee of all Methodist model trust property, including legacies, endowments and accumulated funds. Trust property is held for and on behalf of local managing trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the managing trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

Price (£)
5.42700
n/a		 Price (£)
5.42700
n/a
2C100 - CFB Managed Mixed Fund
2C120 - CFB Managed Equity Fund
2C122 CFB Managed Fixed Int Fund
2C110 - Trustees Interest Fund
CMTF
Trust
10279		 Designated
Mt.
Pleasant
Chapel St
Trust
18819
Lye
Bequest
Trust 3488
Lye
Bequest
Trust 5719
Music
Fund
Trust
16407
Total		 Grand
Total
£
8,001		 2024
£ £
£
£
£
£
£
2C100 - No Units
2C120 - No Units
2C122 - No Units		 7,500
501		 8,001
2C100
2C120
2C122
2C110		 40,703
2,719
43,421		 43,421 43,341
503,775 40,703
2,719
43,421
10,000
1
4,945
1,395
6,341		 43,421
520,116		 43,341
317,300
503,775 10,000
1
45,648
2,719
1,395
49,762		 563,537 54,185

BS3 Debtors & Prepayments

With the exception of items marked thus (*) all sums shown as Debtors at 1 September 2024 were received during the following year. All sums paid in advance at 1 September 2024 were for activities that have been held during 2024-25 Similarly, it is expected that payments in advance at 1 September 2025 will be expensed in 2025-26

General CMTF Desig Restricted Endow Total 2024
Trade Debtors
Council Tax Refunds
Luton Road Methodist (balance)
Other Debtors *
St John's Loan Repayment
Stipends Reimbursement/Grant
Tenancy Deposits
Prepayments
Stipends, Pension, NI 17,808 17,808 19,436
Methodist Insurance 4,485 4,485 4,325
Other Prepayments 122 122 113
Professional Fees
Apprenticeship Levy 68 68
Totals 22,483 22,483 23,875

Page 22 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

BS4 Loans

Loans to staff and churches within the Circuit may be granted by the trustees for a variety of purposes. All loans funds are sourced from the CMTF and are interest free. The asset, however, is carried in the General Fund and repayments (in the case of loans to churches) are transferred back to the CMTF. The agreed repayment date (if set) is shown in the table below.

Church/Staff
Date Granted
Staff
Sep-2025		 Amount
£
439 4		 Period
months
Totals		 Balance
Brought
Forward
£		 Additions
£
439		 Repaid
this year
Balance
Carried
Forward
£
£
439
439 439

BS5 Central Finance Board (CFB) and Bank balances

Monetary balances held at the Central Finance Board of the Methodist Church and at Co-operative Bank plc are all available on demand without loss of interest. The split of these balances across General, Designated and Restricted Funds is arbitrary but wherever possible balances are not shown as negative.

Central Finance Board
Co-operative Bank
Cash in hand
Sub Total
Totals		 General
CMTF
Desig
Restricted
Endow
Total
2024
116,334
260,456
10,717
387,507
383,134
127,164
(116,795)
1,255
11,624
15,094
46
46
46
127,210
(116,795)
1,255
11,670
15,140
243,544
143,661
11,972
399,177
398,274
BS6 Creditors, Accruals and Income in Advance
It is expected that all sums accrued at 31 August 2025 will be paid during the year to 31 August 2026
Income in Advance
Assessments in advance
Letting Income
District Grant - HRCDC
Creditors and Accruals
Ministers' & Staff expenses
Insurance
Other Expenses
Office Rent
Others
Preaching Fees & Expenses
Stipends, Pension, NI
Taxation and Social Security
Other Prepayments
Agency Collections held over
Totals
94,310
94,310
97,269
1,020
1,020
1,197
2,919
2,066
2,066
1,641
4,325
117
117
148
148
1,384
3,750
3,750
125
101,294
117
101,411
108,860

BS6a Grants payable in next financial year

Page 23 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

See Note BS7
[and Note 9 for individual detail]		 General
CMTF
Desig
Restricted
Endow
Total
2024
12,000
12,000
16,330
12,000
12,000
16,330

Maturity Analysis of Financial Instruments

Accrued at
1 Sept 24		 Paid in
year		 Accrual
made in
year		 Accrued at
31 Aug 25
Assessments in advance 97,269 (97,269) 94,310 94,310
Ministers' & Staff expenses 1,641 (1,641) 2,066 2,066
Contractors
Other Expenses 148 148
Letting Income 1,197 (1,197) 1,020 1,020
Others
District Grants 2,919 (2,919)
Stipends, Pension, NI 3,750 3,750
Taxation and Social Security
Other Prepayments
Totals 103,026 (103,026) 101,294 101,294

Page 24 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

BS7 Commitments

Some grants are payable in annual instalments. Since the Circuit recognises the moral responsibility to meet future instalments of grant, all future instalments are shown as liabilities on the balance sheet.

The following analyses, which should be read in conjunction with Note 9, are provided:

The total of anticipated grants stated below is comfortably within the balance of each of the respective Funds as shown in notes BS8 and BS9. It is the policy of the Circuit not to allow the future commitments of grant to exceed

[Comparative commitments are not required]

End of year commitments to pay one-off grants or
the first instalment in a future year
Anticipated second or subsequent instalments
where the first instalment was paid in 2024-25 or
earlier
Total anticipated commitment 31 Aug 2025
Grants payable by year
Next Year (2025-26)
2026-27
2027-28
2028-29
2029-30
Later
Total later than 1 year
Total anticipated future commitment		 General
CMTF
Desig
Restricted
Endow		 Total
57,000
57,000
57,000 57,000
Total
General
CMTF
Desig
Restricted
Endow
12,000 12,000
12,000
12,000
12,000
9,000
12,000
12,000
12,000
9,000
45,000 45,000
57,000 57,000
BS8 Unrestricted Funds

BS8.1 General Fund

Balance 31-Aug-25 2024
2,039,553 2,229,235

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 purposes. About 95% of this fund is held as a freehold or leasehold property, being manses for ministers, investment properties and, from time to time, redundant chapels in the Circuit. Details of the grants and donations made from the General Fund during the year can be found in Note 9.

The Circuit Meeting is aware that grant applications must demonstrate public benefit and this is true for all funds.

BS8.2 Circuit Model Trust Fund
Balance 31-Aug-25 2024
446,775 230,759

The purpose of the fund is for use at the discretion of the trustees in the furtherance of the general objectives of the Circuit. Its main source of income is legacies and formulaically determined contributions from the sale of manses and church buildings in the Circuit.

Although this is technically an Unrestricted Fund under the control of the Circuit Meeting, prior approval is still required from the District to utilise these funds. Methodist Standing Orders 930, 931 and 917(2) are applicable.

Page 25 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

BS8.3 Designated Funds

d Funds
31-Aug-24 2023
Balance 153,544 146,576

These funds are to serve specific purposes but are not restricted by any document or deed to that purpose alone. Movements in these funds are set out in Note BS10 below and the details of the specific funds are as follows:

Manses - Receives an annual transfer from the General Fund based on the number of functional and investment manses and against this is charged routine maintenance, repairs and, as the need arises, refurbishments

Ministers - Receives an annual transfer calculated on the number of ministers and is used as a provisionto meet the removal costs of new presbyters joining the Circuit

Training - Receives an annual transfer from the General Fund and acts as a provision to meet the costs of relevant training courses. A formal

application process is in place and the fund is also open to applications from members of churches within the Circuit as well as Circuit staff Quinquennial - The Circuit is responsible for arranging an inspection of all its own properties, as well as those of its churches, every five years. Such inspections are carried out by a Qualified Surveyor. The costs of all inspections are met be the Circuit and generally known as the Surveyor(s) is

under contract. The frequency and cost of individual inspections is not uniform therefore the five year cost is assessed at the start of the cycle and one fifth of the known/estimated cost is transferred from the General Fund each year. It is therefore possible for this fund to show a negative balance

Assessment Equalisation - Funded from a portion of the sale proceeds of closed churches and used to subsidise the consequential additonal Assessment costs on the remianing churches over a period of 3 years Lay Salaries - Funded from prior year savings on budget v actual overall employment costs (ministers and lay workers) and used to part fund lay salaries over future years

BS9 Restricted and Endowment Funds

31-Aug-25 2024
Restricted Funds Balance 11,972 3,788
Endowment Funds Balance 49,762 49,623

The restricted and endowment funds exist to support the causes listed below. All the funds' assets (except those restricted funds which are managed locally) are managed by TMCP and 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:

(EE) - {Expendable Endowment} Capital available with restrictions.

(PE) - {Permanent Endowment} Capital unavailable

(RL) - {Locally Restricted} Capital and interest available

Benevolent Fund (RL) - Receives interest from the "Lye" funds below and is restricted to provide support for the poor and needy of the Circuit Drama Fund (RL) - No regular funding but the capital is available for drama related projects within the Circuit Education & Youth Fund (RL) - Currently funded by an annual transfer of £500 from the General Fund. The capital may be used for any educational or youth purpose within the Circuit. A formal policy exists and there is a set application procedure

Chapel Street Fund (EE) - The interest from this fund is available for general Circuit purposes without restriction. The capital is available to support "Inner City Mission within the Luton area"

Lye Bequest (PE) - There are two funds both set up to provide support for the poor and needy of the Circuit. Only the interest from these funds is available and this is transferred to the local fund detailed above. Grants are made on a confidential basis and there is a written policy in place to ensure fairness of allocation and distribution

Movements during the year were as follows:
Market value at 1 September 2024
Income received during the year net of charges
Grants paid during the year
Net unrealised gain on the value of investments
Investments sold
Other Expenditure
Future insallment of grants
Provisions released
Transfers to/from other Funds
Market value at 31 Aug 2025
This is made up as follows:
2C100 - CFB Managed Mixed Fund
2C120 - CFB Managed Equity Fund
2C122 - CFB Managed Fixed Int Fund
2C110 - Trustees Interest Fund
Debtors/Creditors
Bank, CFB and cash balances
Provisions for future Grants (agreed)
Total		 Restricted
Endow
Total
3,788
49,622
53,411
6,014
1,241
7,254
(690)
(690)
80
80
(131)
(161)
(292)
2,991
(1,020)
1,971
11,972
49,762
61,734

43,421
43,421
6,341
6,341
11,972
11,972
11,972
49,762
61,735

Page 26 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

BS10 Summary of fund movements

Fund Balance at
01/09/2024
Income
Expenditure
Transfers
Grant
Provisions
[Net]
Gains /
Losses
Balance at
31/08/2025
£
£
£
£
£
£
General 2,229,235
436,621
(420,322)
(205,981)
2,039,553
Circuit Model Trust 230,759
28,189
(36,135)
164,745
16,330
42,886
446,775
Total unrestricted and undesignated 2,459,994
464,810
(456,456)
(41,235)
16,330
42,886
2,486,328
Manses
Ministers
Training
Quinquennial Inspections
Assessment Equalisation
Ex Mount Pleasant (for any Circuit purpose) -
[held by TMCP]
Total designated		 117,904
(29,940)
32,000
119,964
10,451
3,400
13,851
9,321
(458)
500
9,363
(1,100)
(2,334)
3,800
366

10,000
468
(33)
(436)
10,000
146,576
468
(32,764)
39,264
153,544
Total unrestricted 2,606,570
465,278
(489,221)
(1,971)
16,330
42,886
2,639,872
Benev (Local)
Drama (Local)
Educn & Youth (Local)
Luton Road
Mount Pleasant
Total Restricted		 7,725
(690)
989
8,024
818
818
2,630
500
3,130
(7,385)
6,014
(131)
1,502
(0)
3,788
6,014
(821)
2,991
11,972
Chapel St Trust 18819
Lye Bequest for Poor Trust 3488
Lye Bequest Trust 5719
Circuit Music Fund Trust 16407
Total Endowment		 1
31
(31)
1
45,573
1,089
(148)
(941)
75
45,648
2,714
57
(9)
(48)
5
2,719
1,336
64
(4)
1,395
49,623
1,241
(161)
(1,020)
80
49,763
Total Restricted and Endowment
Total of all funds		 53,412
7,254
(982)
1,971
80
61,735

2,659,981
472,532
(490,203)
0
16,330
42,966
2,701,607

BS11 Analysis of net assets between funds

Fund balances at 31 August 2025 are represented by:

Tangible fixed assets
Fixed asset investments
Investments
Current assets
Current liabilities
Creditors due after one year		 General
CMTF
Desig
Restricted
Endow
Total
2024
1,524,381
1,524,381
1,709,381
350,000
350,000
350,000
43,421
43,421
43,341
266,466
503,775
153,661
11,972
6,341
942,215
739,449
(101,294)
(12,000)
(117)
(113,411)
(125,190)
(45,000)
(45,000)
(57,000)
2,039,553
446,775
153,544
11,972
49,762 2,701,607
2,659,981

Page 27 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

BS12 Related Parties

None of the Circuit trustees made donations direct to the Circuit during the year or in the preceding year All of the Circuit trustees are members of one or another Church within the Circuit and may be trustees in their Churches.

Related parties include the Methodist Connexion, the BEH District and Churches within the Circuit, other Methodist Districts in Great Britain, CFB and TMCP, except as reported in Note 10a. All of these entities have their own trustees or directors.

None of the figures tabulated below appear elsewhere in these accounts

Names of related parties
Fund for Property
Mission in Britain
Presbyters & Deacons
Fund for Training
Necessitious Local Preachers
Methodist Church Fund
LWPT
World Mission
JMA
BEH District		 Party
Receipts
Payments
Adjustments
Balance due (from)/to
the Circuit at 31-Aug-25
£
£
£
£
370
(370)
300
(300)
370
(370)
50
(50)
556
(556)
171
(171)
HRCDC Charity Ann Grant
1,817
(1,817)

BS13 Agency Collections and Payments

The Circuit acted as agent in either the collection or facilitation of the monies tabulated below. None of these collections were for related parties as defined in Note BS12 above and do not appear elsewhere in these accounts .

Name of entity
Circuit Churches Members
Leaving collection - Nigel Bibbings		 Brief details
Receipts
Payments
Adjustments
Balance due (from)/to
the Circuit at 31-Aug-24
£
£
£
£
A Rocha bal brt fwd
125
(125)
370
(370)
495
(495)

BS14 Volunteer Contributions

Every entity (Connexion, District, Circuit, Church) within the Methodist Church in GB is heavily reliant on volunteers who contribute their skills, time and money in the furtherance of the work of the Church. In the Circuit the principal contribution is by serving on committees of the Circuit that deal with mission, manses, finance, policy, grants, training, safeguarding. We are grateful to all of them for their help and commitment. No attempt has been made by this Circuit to value the nonmonetary contributions to the Circuit in monetary terms.

Page 28 of 30

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Notes to the accounts for the year ending 31 August 2025

BS15 Capital commitments and contingent liabilities

Nil (2023-24 Nil)

BS16 Lease commitments

The Circuit has contracts or obligations for the following:

Office accommodation which is an informal arrangement with a church within the Circuit and a contribution of £900 was made during the year (2023-24- £900) to cover heating and lighting costs

In addition there are short term obligations as follows:

Telephones at the Circuit manses

The total annual cost of these is not considered material.

BS17 Independent examiner

No accrual has been made for the fee of the independent examiner.

The independent examiner provided no additional services during the year

Page 29 of 30

Name of Circuit :

South Bedfordshire No 34/04

Declarations and Scrutiny

I confirm that these accruals-based accounts for the year to 31 August 2025 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit meeting.

Signature of treasurer Date 30 November 20205 Name and address of treasurer: David James Hallworth ACIB

7 Windsor Close, Flitwick, Bedford MK45 1PT

Presentation to the Circuit meeting

I confirm that the annual report and accounts for the year ended 31 August 2025 were presented to the Circuit meeting held on: 24 February 2026

Signature of the Chair of the meeting: Rev Patrick Kandeh

Name of the Chair of the meeting: Rev Patrick Kandeh Date 24 February 2026

Independent Examiner’s Report follows on the next page

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Independent Examiner's Report to the Trustees of The South Bedfordshire Methodist Circuit

Charity Number 1134222

Year Ended 31 August 2025

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2025 which are set out on pages 1 to 30.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I 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 material matters have come to my attention in connection with the examination which gives 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 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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

Theresa-Anne Warren FCA Chartered Accountant

GP Financial Management Ltd 8 The Old Yard Lodge Farm Business Castlethorpe Milton Keynes MK19 7ES

Date: 11 June 2026

THE SOUTH BEDFORDSHIRE METHODIST CIRCUIT

Independent Examiner's Report to the Trustees of The South Bedfordshire Methodist Circuit

Charity Number 1134222

Year Ended 31 August 2025

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 August 2025 which are set out on pages 1 to 30.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

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

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I 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 material matters have come to my attention in connection with the examination which gives 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 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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

Theresa-Anne Warren FCA Chartered Accountant

GP Financial Management Ltd 8 The Old Yard Lodge Farm Business Castlethorpe Milton Keynes MK19 7ES

Date: 11 June 2026