CAMBRIDGL ML'L'FIODIST CIRCUI-I. I-,INANCIAI. SI'ATEMLNI'S FOR"IFIE YbAK ENDED 31 s"r AUGUST 2024 coKrbM's AND CIIARllY tNI."ORMA"I'ION CONTbN'I'S PAGF. Report of thc'l'ru5tEes tndbpendent Allditols Report Statcmcnt of financial Activittes Balance %hcot 10 Statement of Cash flows Noles to thc Financi￿ S2tetnents 12- 17 TRUSTfi F.S (Circuit Steward5) A full list of Trustceg is shown on pa2e 415 Stcvc Acklam (Senior Steward) Elsie Salmon Ro55 McFvrdn Margaret Poulter CIRCUIT MINIS'I'EIiS Deaeon Ian Murray The Reverend Charity Nzeg 'rhe ￿e￿¢re11d Ros¢ Westwood (Supertntendent and Chair) Thc Revtrend je￿lY Path￿￿jth IIF,GIS'IKRF.D ObTrlCF, Wcslev meth(￿￿1$( Church Christ's Pl￿¢ Cambridge CBI 11 CIIARI I'Y R Tr:GIS1'11A'I'IOli NUMHER 1134226 AUDI'roiLs PrEntis & Co LLP Chartered Accountants and Stanttory Auditors 1 I5c Milton Ro Cambridge CB4 IXE IIANKERS l.loyds PIC University of Carnbridge Branc PO Box 1000 xi 11.1. Trustees for Methodist Church Putposes Model'frust fuThd Ceitral Buildings Oldham Street Manchester Ml IJQ Cer.tl'811,"inallce Board of thc Methodist Church 9 BonhÈll Str￿l London EC2A 4P[ CAMIIRIDCJE MF,'I-HODlS'f CIRCUII. PACJE I FINANCIAL SI'A'I'LMI.-:Nrs foR-FFlb, YEAR b.NDLD 3 1ST AUGUST 2024 RE,PORF 01,"'I-HP.'I'RU8'fELS The I'ru5tces present their annual report Logether with the financial statements of the chaTity for the year ended 3 1st August 2024. Th¢ financial stalcments comply with tile Charitie5 Act 2011, the Deed of Union and M¢thodi5t Church ACL and Accounting and Rcpoi'iing by Chwitses.. StaL-.ment olRecommcnded Pra¢tice appli￿bI¢ k) charities preparing their accounis in accordance with ihe financial Rcport'.tLg Sandw'd applicablc in tb.e UK ap.d Eiepublic of Ireland (fRS 102) (effective l January 20191. BACKCJIIOUND The &in]s and purposes of thc Cambridge Methodist Circuit are set out io th¢ Circuit Policy StatemenL Each year, the Stdtement is cons:dered and reyiscd when appropriat¢. achieycments in the pas: year are reviewed, and goals set for the miE)g ycai.. The Circuit Policy St&lctncTht tskes as its startilltr point the Calling of thc Methodist Church as appmved by the tethodist Confer¢nc¢. I'hc fiLII Statement is reproduted bclow. CAMBIIIDGF. CtRCUII' I>OLICY STA TEMENr Ihe Callillg ofthe M-thodist Lhurch is to rcspond to the gospel of Gods love in Christ and tt> live out its discipleship in WOFship diid mission. It hBS four dimelj sions.. Worship - io incrcasc awarcness of God's presence and to celebrate God's love. Lcarning and Carin¥- to help peoplc to learr. and grow as Christ ajjs through mutual support and car¢. Service to bc, a good neiohbour lo peottle in need and 10 challenge injustice., Evanxelism - to Inake tnore followers of Jesus Christ Imgthodist Conference 1996 ad2000) Thss calling is sharcd with the Nvhole Church of Jesus Christ. 'rhe Cambridge Circuit l. 'I'he Circiiit 5 policy is framcd in thc light of the Mcthodist Churchs calling. ThrouglL the sttu¢tswe5 of the Circuit local ¢hurLhes a55￿t eacli other to respond io thcir calling. seeking to d¢ploy shared tesources effectively to that end. YartllErskips 2. The Cii'cuit will encourage churches, where po￿lble, to work ￿gether in partDcrship with other Christian chilrches, and in particular io dcvclop the potential of the Methodisi Church's covenanl wrth the Church of England. It will continue to support Lo¢al >.cutncnic&l Partne￿h1PS. 3. It will ￿aint￿l[L effe¢tive links wkth Wcslcy 110￿e, The Lkys School. the UniYer51tie5. sujdcnts, and wilh the regional auihoriti¢s ofothcT cliurchcs and will rcspond positively lo Connexionrnl care. eS￿l21]Y for au who are Tn¢mber5 0£ or Dn ilic community roll of, th¢ churches. 8.'1'he Circuitwill promote Irdining that enables m¢mbeTS to bc inore copfideni of their faith, equips ihem to sh2re it effecliyoly and develops Iheir gifts foi. service withÈn and beyond thc church. 'rhe Widcr Community 9. 'Fhe Circuil will support initiatTve5 to sharc thc Christian faith with others. and e5p¢cially with young people. CAMBRIDGE MEfHODIST CIRCUIT FtNANCIAL STATEMEM'S FOR I'FtE YEAR ENDED 31s'r AUGUST 2024 REPORT or TTrtE TRUSTEES .........JCONTINUED 10. The Circu','t, partnership where posstble with oth.er Christon chur¢he& will seEk to respond, as circum5tancE8 arkd resources &lloTh'. to the op?ortunilieE necds preienied by wpuLation growth alld housing development in the area. I l. The CirGuit will encourage church(* to make thetr premises available forwider conllnunity use. 12. The CirGllit will support initiatives to prolnote justice and equality througjollt the worl¢ and in particular will encoui'age churches to follow a fair trade policy. 13, The Circuit will encgurag6 local churches io use nawrdl rosources responsibly. Staffing 14. The Circuit is cotntnitted to maintaining the numb¢r of Ministern and layworkers required for its pr¢s¢ntand anticipatsd future needs. Accountabil&ty 15. The Circuit will ensure responsible managcmL ent and acCo￿JAtabL1Ity for b￿lIdIngS, money and other resources and will comply with relevant goverlltnent and local ￿[hority legislation. ACEtIEVEMENTS AND PERFORMAYCE lu all its activities the ca￿bridge Circuit b.as sought to follow L4c calling of the Methodist Church and re5pood to the gospel oEGod's loye in Cbttst and live out its discipleship in worsh:p aAd mission. At the Circuit Lcvel During the year all churchcs in the Circuit were able to open for worship, with Zoom tt¢hnology employed where feasible to enable remotr access to services forthose vtho were simply unwell to attend in person. Starring The Superintendent gaye notice of her intention to 5lt dowm from A￿ust 2025, and the Inviralion Committcc iniliated tile process to find a repl￿ernent. Ministers took Sabbaticals as appropriate. There were no additional changes in ministerkaI staffing. A vacancy did arise for a replacement Circuit Adtninistrdtor as tho inQumtr￿t moved to an external role. M5uio The Circuit Leadership Team continued to evaluate ned & perfomiallce against key priorities in the areas of Mission, Intlusioi Discipleship, Buildings, Sta(fing & Safeguardin& The fothank distribution centre d Chesterton has a S¢¢D signific￿t incredse in demand for its &%SiSLance, and the Deacon'5 rol¢ ij) ￿￿gItig this has been ¢w¢ial. RoystOD Worked with ChurLhcs Together io plovide events Including Lent Lunchcs, an Easter Walk of Witress and BBQ. On the day the Ca￿bridge &Lalf ardthon is n]n Wesely closes for worship but throws it doors open to the ￿ll￿erS and their fonilies for ioinewherc to rest and enjoy coffee. Histon church has actively participated in village life. tLOSting the VilT8ge Christmas Tree Festival ahd supportiiig the Carols on the Green servi¢¢. both of wnicb were well received by the community. Window displa￿ at Castl¢ Street hav6 helped reach out to P&ssers-by, sp￿lIng convcrsaiion5 and interest. The Church took part in th¢ Break Art SLulptuir Trail with own GiTaEfc whicb Wds designed by the church and has be￿ wed on several (￿loi￿ throughout the distriot. Buildillgs Regt¢ttably although funding was in place. the plaTh to provide a social enterprise community at Chesterton encountered significant l55ues and was pau5¢. The remaining part of the Histon developmcnt- updatlDg the toil¢t are&- rellEdinb paused. Safeguarding Th¢ circuii is lor Ihe co￿￿￿ll￿¢￿t of targe number5 of volulltE£rs in local churches in completints boih foundation and advatLced modules. Individual Church Highlights Roy5ton cclebr&t¢d the completion of its ti¥ipphase bLijldjiL g works adding a Dew eDlargd kitchen to tbe acccss lift and iiew toilets which were instslled the preNious sutnEner. 'fhese ￿£￿￿tIeS are available both to the Collwgation and local coinEtJunily. We have wclcoroed scveral ncw rnembers to the clLurch &1d M¢ssy chu".ch ￿ntinUeS to be very well &ttendEd &tii3ct￿g Fa￿lI1¢S who go to First Friends. our baby and toddlcr eroup. Junior Church has a sinall but re￿llIar group of children attending ¢ach week and Floliday Cl￿b r￿] eacb of the October half-tcT[￿ Past￿ra[ woA( coninues to be & strength of oui. chiirch and is ￿uch appre¢i£ited. CAMBRIDGE MFfFIODIST CIRCUIT PAGE 3 FINANCIAL SI'ATEMr.wtS FOR I'HC Yl*AR I-.NDED 3 1ST AUGUST 2024 REPORT OF THE TRUSTEES .........JCON'fiNtJED Histon Methodist ChurGh h¢￿ ¢onrin.'Jed io play a vital role w.thin th¢ ¢ir¢lliL contriou*fing Ix)th financially and thruugh active ministry. The Adulis Group has gonc from strength io stren.oL4, with groiving aty¢ndance and providing ￿lUable opportunities for frllowship and spiritual growth. A new Bible Study group ha5 been Ia]jnche￿ otfering support and en¢ouragcmEDt to many peoplo and hElping to de¢pen understanding of %riptur¢. A highlight of:th¢ Vear was 1he FloweT and Quill restival, which welcomed over 4,000 vilitors and Pl'ovided a wonderfijl opporturiFtY for outreach ￿)d conn¢¢tior. with the ￿lder community. The chureh 4as met its fmancial committnents to the c1￿UlE sUPPOrted by generous givir.g and successful fundraising ev6nts. Inyestsnent has been made in maiTh(xining the chur¢b building, with improvemellts focusEd on aNessibility and energy efficiency. Wesley weekly worship continues: ar,d the ¢hurch.-cmain5 a centr of welcome and fellowship. Weekly f4ihle study continu¢s. A monthly lunch called Thursdays'l'ogether ba5 been created L4is year and is i¢ry popu5ar with up to 30 attendees. The premises are widely used by local ￿0UpS and conc¢rts. Wesley is & major blood donor location withiD Cambridge. The Church was identtifled as a suitable venue by & film company who were able to conwlete their prfKessing and 5ubs¢quently donate some £80,000 to Church filads. The Toft chapel -cumeryical partnership St Andrews Anglican chwch continues to flouish, with services alt¢rn&ing between the two buildings. 'fhe Chapel's mission centring on cotDEnuniry en8agem6nt has been delivered through regular usage by Toft Choir. guides, and rangers,. a knii and natter group,. and an extretr.ely successfid Warn] H'ab running throu October to March. It I￿S also hostcd villagE exhibitions, trdlllitig courses, and third-party meeungs. Well gUPPOrted Advent and Lent groups met in a TfLeTnbeVs ho￿￿e. Lhe LEP congregation shar¢d a miSSiOtt focused awBy4ay in a local N￿gI1¢an church. Castle Str¢¢t h&% enjoyed a y¢ar fvll of worship, fellowship, and service to th¢ community. Liegular Sunday services have boen source olsb'eogth and ellcouragenk-nL and key moiDCP.ts rn tfte church calendar haye be¢n rnarked with meaninglul and well- attcnded s-rvi¢¢s. Local community gr0￿pS lixe Aicobolics AryoJ)ymous have madB of the space. It has been wonderful to see children and young people taking part in the life of the chuTCh. Chcstertou contirLued to serve its community. 'I'he work of the we¢kJy fDodba]th session b¢rame busier than at any point over the I l years of being ol￿n. The project to unprove the laDd5capiug Df the SIL made progress witkn assistance of & circuit grant to eEnploy a landscape ar¢hitect. Worship conLinued kn be Énter-geDerationai and resPOn5iVe to its diver5¢ and illclusive h¢art. Onvell's flat roof needcd urgent r-placem-nt and a CTrcuit grant filljded the repair5. The grounits around the churcb. are aintaincdby the able-bodied member5 aDd nOP.-￿eMbe[S ofthc chur4. Ne￿ compost bins have been made to reduce kerbside waste. Lomtnunity nreds b.ave b¢¢n addressed by a monthly gtoup called.4ll sorts. Regular attendance is around 20. mainly p¢ople ate living on their who enjoy conversation, qui72es. tslks and tea cake. A Bible Study Group whicb meet montldy and includes a bring and share lunch. Oth¢T gTOUP5 using the premises are the Guides, Brownies and Rangers. The Onvell Historical Society meet tnorLthly. Charity fund raisers are held throughout the year and the big event is the Christmas Tret Festiyal which brings the community together and leads through to the Christtnas services. Ca￿bOurne Ecutnenical Church started two new initiatives. The Horbour Bereavement Cafe stsrted 25 a 6-month tTkal but has proved ill value alld continues Er.onthly offering a meal and fellowship to ihe bereaved, whether that bereavement recently or long &go. To mark the Silver Jubilee, a team began aJ¥bilee G￿den on tILe unused I￿]d to the rear of the church wing a no-dig method and providing fresh fruit and vcgetablcs to the foodbattk vthich ruzjs in the same buildiiig. knother area OE land is being tnanaged as long habitat for wild;-,fe. A Start Cotsrse lcd to the formation of & new homegtoup, while a new music bas¢d small g'oup ha5 also begun meeting weekly. Ihe local St John Fiaher Roman C&tholi¢ Community has used the church for many years and TLOW the St Joesph Knanaya Syrian Chwch hire our space mODthIy. Haslingficld has continued working witb the Parish Church and while theiT navc was out of use m03t joint services were held in Ihe Method st Churc14 including a Vigil on fA8ter Saturday whell children from the school provided a choir and the ChuTch was fvll. M6g5y Chuwh contlDUeS to develop, c2tcring for all ages. Prasse and Praise gives an opportun ty at the begtnning of each month to brints to God personal cor.cerns for the world. our country. our Churcli and our $ibJauon. Printed sheets are used and 8r¢ available for Inembers olthe congrogation wbo cannot get ￿ the meeting. FINANCIAL REVtEW The Gener￿ Trund (unrcstricted} showed a deficit of £78.646 bcfore 105se5 on investments (2023.. deficit of £17,047). 'rhe principal suurce of illQOTne for the Circuii is a quarterly ￿seSsment levicd on all the churches in the Circuii (based partly on U[￿eStrIcLed iiicoElle aud partly on membership). which forns a first cb2rge oll the incoine of th¢ churches under Methodist S(anding Orders. CAMB]UDGE ML'fTrioDIST CIRCUIT PAGE 4 FINANCIAi, STA'fEMFNTS FOR IHF. YCAR ENDED 3 IST AUGUST 2024 REPORT OF THE TRUSTBES .........JCONIIWJED FINANCIAL REVIEM, . conliDued DurTng ihe year grants paid out for expenditure on Circuit property amounted to £40281 (with a further £450 paid to the CiiYuit for other expenditure) (2023.. £Nil). All the C￿cult subsidiary accounts, togethcr with the Circuit Advance Furf are held with the Centra] FiDance Board of the Methodist Ch￿"¢h. MEtnbers of the C1￿Ult were involved in a rdllge of fvnd rdiSitLg activities on Ixhdf of Methodist and otber chaTities. I SERVES POLICY IL is the policy of the Circuit Meeting to tnaititain a ba]ance On the unrestricted Generdl Fund equiyalent to approxitn&tely at least 6 inonths tumover. LD recent years the general reserye has fallcn ￿lOW this level . HoweNer, tr.e General Fwid re5¢rv¢ is backed up by the fact that tne najo.-ity olthe Circuit Advattce Fund is dnv.stricted. The toal reserves available a¥e thus well in ¢x¢e$s of the (nin1m￿￿ requirement. At a CiTCUlt Meetiig held after the fllw)cial )ear elld on I Ith October 2016 it was resolved that tile General Fund resorve b¢ reduced to 3 mon￿. over a peri¢xl of several years by cargful aTLd well plaI￿ed allocation of re50ur¢es. GOVERNANCF ISSUES The Circuit Meeting is constithted in accordance with Metiiodist Standing Order 510 and consists essentially of the ministerial staff of the CircuiL Circuit Stewards alld other Circuit otTicers appointed by liie Circuit Meeung, and represeiitative5 appoiDted by e&ch Church in the Cirruit, trie number of ropresentatives being relatcd to Church membership. The responsibilities of the Circuit Meetin? are set odt in Methodist StarEdE￿tr O-dcr 515. The c]r￿lt Meeting Tnet on three occasions during tlie year. Proposals are prepared for cotksid¢r8tion thc c1￿Ul1 M¢etino by the Circuit Leddership-feam, consisiing of all Ministers and Circuit Stcward5, and other CiTcuiI committees. A Safeguarding Office keeps all rel¢vant St#￿tory obligations under reyiew and reports to the Circuit Meeting. New I'rustees are gppoititcd when new Msni5t£rs are appointed th the CircuiL the local churches appoin" representatives tt> the TnLStce body (the C1￿Ult Me¢tiEJg} or wben the TDJ3kc bod5,:eC￿[ts appoints new Circuit officers including thc Cll'CiLSt Stewards. 'fhe tneinbership of the I rustce EK)dy is constituted according the relevant standing orders of the Methodist Church detemiined by the Methodist ConlerLnce. wthich are legally binding on each Circuit and local Church. I'he Circuit will review its training and induction procedures in the cotlling year. The Trustces are aware of and re8u14Lrly revicw thc Charity ComJDission guRdaAce on public benefit and consider tlie Cir¢uilS activities complianL KEY MANAGEMEr+lT REMULYERATION 'rhe Methodist Conference review5 tlie stipcnd5 cach year taking into account infiation. LIST OF CHAIUTY TRUSTEFS 2023124 Trustces C￿cUlt S Mr Stcve Acklam (Senior Steward) Dr R Levine (Steward) (resigned April 2024) Miss Elsie Salmon (S￿Ward) Mr Ross M¢Ewan (Steward) Mrs Margaret Poulter (Steward} (appointed sepI￿nber 2023) resentatives from the Circuit Dr Paul Ashley Mrs Wendy T.'mbs (Haslingfield) Mrs loyce Goodall (Roy5lon} Mr Geoff Batty (Wesl¢y} Mr Gordon Heald {S&wston) Mrs Fraiices Pascoe (Orwell} Mr ChrL5 Ra￿Oll (Castle Street) Dr Nicholas Ke-p (Roytiton) MI. Angi￿ Caw.pbell (Wes,, M). Mike Sharpe (C>]e SttEet) Miss Pliyllis S%lmon (Haslingfield) Mr5 Dian&Tebbil (Toft) I r5 Ros¢mary Watson (Histon) Mrs J￿dY Wynn (Local I4'eachers) Mr Adrian MacKintosh {Ch£itaton) Misb K Coles (Histon) Mr John Wyborn (Hi¢ton) Mr John Boocock (Cp4Stle Street) Mr Grdhdm Burgiall (We51eyl Dr Philip Howie (Ch¢sterton) Gill Grainger {iioyston) CAMBKtDGI,- Mf,.TI40DI8-I' CIRCIJI'I. rtNANCIAL STAI'I:. ML..N'l'S foR I'FIL YEAR ENDED 3 1ST AUGUST 2024 KEP()RT 01-. TI-tE'I-RUS-I'E.LS . -JCONI-INIJED LIST or CEIARITY TIIUSTF.F.S 2023124 - continued resei)tativcs from the Circuit Btian Cartcr Jan¢i Bl&ii' continue(1 Kcy ManagLment Personnel Cii'cuil gtr.rf R¢vd Rose Westwood {SUpEri￿tendent and Chdir) (Wesley, Chesterton and Orwell) l)cacon 14m Muiray (CP.esierton & Wcsl-y) Revd Charity {IIoyiton, l.lasl ngficld and Toft) Rcvd Jcnny PathJ￿￿E￿II4l5ton and Cast:c Strcet) 's Miriam Webb (Ad￿l￿ts(rat0r) (resigned April 2024) ST ATRMLNT OV TRUSTEES IIESPONSIIIILITIES 'rhe cliarity Trustces are responsible for preparing a'frustees, annual report and financial statements in accordance with appliLablb law and United Kingdo)m Accounting Standards Iunited Kingdom Genernlly Accepted A￿CoUntI1]g Practice). The law applicable to c￿.arItiCS in Engl￿d dnd Wales lequitcs the chaTity TrustEes to prcpare ftnaRcial st&tements For each ycai. which trive 8 true and fair view of tb.e staic of afrai￿ oFtlie charriy and of the incoming resources. ￿]d applic&EkQll of resources, olthe chdriiy for',hat pcriod. In prq)ariii ts the Financi2: s*(ert]Ents, the Trustses are r4uired:o- selcct suitsblc accounling policics and then apply them COD5iitcnt.y.' observc the Tnethods anc. p-. irLciples in Ikic applicabfe Charities SOIIP. make judgcmcr)ts wid estima:.cs dizt arc r¢asonable and prudenL sl&tc whcther ￿Pplicable aecounting standa..ds have been followed, subject to any materi&l depaTttJres that niust bc disclosed and explaiiied in the finatjcial statetnents. prep&Te the financial staieinents on the ooing collcern basis unless it 15 inappropriate to presum¢ that thc charity ill ¢ontsnue in busincss. 'I'hc'frustees dre respcinsible foi. kecping propel. accounting records thLt disclose witb reasonable accuracy at any titne ttLe rinancial pL>.8ition of the charity io enable :hem to ensure that the financial starfments comply ￿￿tb th.¢ Charities Aci 2011. aulatLQDS, and the provisions oFthe Deed of Uniory. 'fhe> are &150 the appliciible Chariiict (Accounts aid R¢port5) Re. ¢spvnsiblc for SafcUL￿td-,llg the assets of the charity and taking reasonable steps for th¢ prevention and detection of fr&ud wid other irrcgularitie5, Approved by the I'rustees on ILwkS W 2025 and signed on th¢ir behalf by.. MRS M POULI'ER 'I'IIUSTLE CAMIIIIIDGL MF,TI IODlS'f c￿Cul1. FINANCIAI, STA'fEMLKI'S I",OR"fHL YLAR r.NDCD 31 ST AUGUST 2024 INDEPtNDLN'f AUDI'foR'S RF.PORT TO THE MF.MBF.RS OF CAMBRIDG£ METHODIST CtRCU]T OI>INION We have audited the fint¥r¢cial statcnicnt$ oFCambridge Nfjethodisl Circuit Eorthe year ended 3 1st August 2024 which ¢otnprisc ili¢,%tYLicmcnt of lil￿ncial Activiiies, the Balar.ce Shc¢L Statfftent of Cash flows and the related llotes. Th6 financial reporting frailleworK that has been a?plicd in their preparation ap)licable law and United Kingdoffl Accounting s￿idar05, includir.g Financia. Rcporting Standard 102 "-fhe financial Reporng Stsndard applicaole in the LK and Kcpublic of Iitlaiid" (United KIn￿d0￿ Generally Acce?ted Accounting PractTCC). In our opinion the financial ststCTnents= - tsive & true and fair view of th¢ statc of thc ¢harity5 afF&irs as At 31st Augusi 2024. and of its outgoing resources and application olr¥sources for the year then cndcd- . have bc¢n piopLrly PTeparcd in &ccordancL' with United Kingdom G¢tWdlly Accepted Accollnting Practice. and . hdve bcen preparcd in accordance with the r4ulre￿etsts of the Charities Act 20II. BASIS C)F (IPINION We conducied uur audit in dccorddnce with Intcrnational 8taTrd8rds on Auditing (UK) (ESAS (UK)) and applicable law. Our responsibilitics uiidcr ti]os¢ standards arc Fu-th.cr described in the Auditor's responsibilities for the audit of the financial statements &ection of our repoi. We are indepcndeni of th¢ charty in accordancc with thc ethi¢&' requir¢TncRts diat a relevdnt to uur aLEdit olttr.e financlal stat¢m¢p,ts in th¢ UK, inclutiing the FRC'S Ethical Standard, and th- provisions available foi. small ¢ntilies, in ihe Circ￿￿. Sianccs Set out in note 6 to the finattcial 5talementy and we liave fulfilled our otlier etliical rcsport3ibiliiies in accurdancc w'.th these requireme￿ts. We believe that the audit evidence we have obtained is sufficient and dppropriute to proh'ide a basis for oiir opinion. CONCI.LSIUN RF.I,AI"INL T() GOING C0￿ckI￿N In auditints the financial stattmei-.ts we havL conclided tiiai the'l'r￿stees, use of the going concern basis of accounting in the prep￿at'lon of thc fLnancial statcnietlts is appi'opriate. Based (yn the work we have perfortncd. we haye Dot identified any material utLcert3illties Telating to events or conditions that l￿diViduallY or collectively ￿lY cast Si¥LifÉcant doubt on the charitys abiliiy to continue a5 a going concern for a period of at le&st twelve movih5 fi'om whcn th¢ financial statemonts arc authoriseA for isslle. Our responsibilitics and the rcsponsibilihes oFthe'ltusiees with respect io going ￿nCern are described in th¢ relevant 5ection5 in this report. OTflER INFOIIMATION 'rhc othcr inform&ion comprises the inftsrtnation included in the Repoit of the Trustee5, other than the financial S￿teMellts and our audituffs report thei'¢on. -I'hc'l"rusiees arc rtspoEhsibie for thc Report orihe'lnjstees. Our opinion on th¢ fmdllcidl staterncnts docs not cover the other infomiatkon and w¢ do not expr¢ss any fomi of assurdnce ¢onc11151011 thereon. In conncolioll wilh uur audit of the financial strdtetnents, our responsibility is to read the Report of the Truslees and, in doin8 SO. considcr whether thc Rcpoit of thc TruslCCS Ib tr.at¢rially incoii515tent with the fthancial slatetncnts or our kniowledge obtaincd in thc aiidit or othciivise appears to b¢ materially Inisstatcd. Jfwe idcntify such material iDcollsi5tencies or appar¢nt material misstatem¢nt4 we ale requi￿a to dctcrmine whether therc is a matsrial nysstatemoiit in th- financial stateTntints or a m&terial mis5t&Leiment oftho otker ￿forMatiO￿. If, b￿¢d otk the work we have perform￿ we conclude that Lhcre is a material misstatement ofthi5 othcr infomation, wc aro required to r¢porttliat facL Wc l)dve iTrothing to reN>rt in this regard. CAfvtBIIIDGF MCI"HODIST CIRCUII. FINANC.IAL s'fATEMF.N"Is r()K'l'Fif YEAR ENDED 3 1ST AUGUST 2024 INDE.PLNDF:￿F AUDI'I-OR'% REPOR'f i'o IHE MLMBERS OF CAMBRIDGE METHODtST CIRCUtT MATfEI IIS ON WHICH WE AIIK REQUIRED TO REPORT BY EXCEYfIoN We have IiotL.ing to L'eport re5peci of thc following maiters ￿ whicii the c[￿[(UeS (Accounts and tieport5) Kegulatiolls 2008 roquii'e us to r¢port to yuu if. in our opinion.. thc it]formdtion giveii li the financial statements is inconsistent in any materiai respect with the Rewrt oEthe Trustces. or sufficicnt &ccounling records have not been kept: or - the Fitkanci&l 3taternetLts are not itk d8tYemcnt with the accounting rffords and TEturns- or - we have not re£eivcd all the infortnation and ¢xplanations w¢ require for our audit. RF.SI)()NSIIIII,TTIKS OF TRUSTEKS As explaincd moi'c ￿llY in the'lTU5ie￿i rcspon5ibilitics st2tement set out on page 5, the Trustee5 are responsible for the preparation of the fEnaDcial 5latements and for being 5atlsfied that they ive a true and fair view, for such in'ernal control 05 the-frusiecs determine is necessary to enarile the prepardlion of financial siatements that are free from material misstatement, whedier duc to fraud o-. e￿Or. In pr¢paring Ihe finap.cial statements.. lh¢ Tii]stees respor.5ib'e for 14iessing the charity's abilily to eontittue as a going coiicerii, disclosin& ￿ applica?le. mar&ers reldt¥d ro going conccm and using the going contem basis of accounting utLless thc'frustees either intend to liquidate thc charity or to ccasc operalion& or have no realistic alternative but to do so. AUDI'IOIIS, RESPONSIIJILII'IFS FOR TEtE AttDIT OF THE FINANaAL STATEI MEFfrs Our ubjcctlVES are to obttt li reasondble assurance about whetherthe fir.atL¢ial stateTnents as a whole ar¢ free from tnalerial isstatement, wlicthcr due to fraud or eiyor, and to i&suc a Report of the Auditors thar includes our opinion. Ileasonablc assu1211ce d high level Or￿SUr8￿ce, but is not a guarant￿ that an audii conducted in acwruatice wi￿1 ISA5 (UK) will always de￿¢t a maierial misstatement when it exists. MisSi￿eMents can arise frL¥m fraud or error and are considered Inaterial if. iiidividually or in i￿C aggregatr, th¢y wuld reasonably be cxpected to influence the economic decisioDS of users taken on the b￿lS of these financldl ststCTncnts. THTr Li XTF.NT Tr'o WFIICII OUR PIIOCEDURES ARE CAPABLE OF DETF.CTtNG IRREGLLARITIF.& tNCI,UI)ING blLIUD Irr¢cYularilies, iicludintr fraud. aw instance5 of fton-compliance with law5 and reguldlioiis. The primary responsibility for the prcvenlioii and d6t6ction of Irrc￿1{a[ItlCS includMtt fraiid rests with both the rnanagcment and those charged with gDvemanee of the chiiliiy. d￿Sign tir()udures in liuc with our responsibilities. ouilined above, to detect material missatemenls in resp6¢t of ii'regularities, illcludin(F ftzud. We hav¢ considered thc nature of the industry and scctor, coniiol environrnent, laws and regulation5 and business perfoiillancc, olthe charitv. Laws and rcgulations considLred included. but were not limited to, FRS102, Charite5 Acl 2011 and ChaTity SORI,. We have ¢nqiiired with Man4tse￿¢n1 in regards to their own assessment of the risL% of irregularities, including fraud. We al.%0 ciiquircd Df manJgetllEnt and those charged with governance to any known instances of non-cow.pli&nce or suspccted nun-cotnpliattcc with Idws and regtilatLOti5. We have obtained iilevant do¢umerÉtstioii atkd repr£senthiions in order to forni an opsnion on potential i￿£gu7aritIes, including lrnud. We GonSLdLred the opportunities and incentive5 L1at tnay exist ￿1th1n Ihe orgarlisation for fraud. Based on ihis understanding, Ive dc51gncd 5pEci.Ic audit procediir¢s to identify inst&nce5 of non-¢ompliance with laws and regutation5 lislcd above, including oilaining add2tioRal corroborative evicence a% required. ExanJple5 of proccdures includcd rcviewlL￿ large unusual iransaction5, revicwinE large a￿d un¢xpected varianccs. reviewing joumal entries and reviewing relcvant Ic(Ydl correspondence. 'thcre arL" inhcrcnt limit¥Llions in the a￿dit procedures d￿CrIbed above. noi least as sampling is used under 1iii¢Thationiil AuditinrT Stattdai'ds, tlierL'fore nol all transactions are reviewed. TheTefore there is & risk we will not deteet all itTegLlarities including t1105e leading to a TP.atcrial misstatenent irL thc financial sutements OT llOn-compliar.¢e with regulL'ions. The risL( ofnot dciccting a m&torial ]Li￿tate[nent due to fraud is also hIg￿er than the iisk of not detccting one resiilting froill error, ag fraud may involv¢ dcliberate conce*klment by. Cor example, forgery, ￿11￿$10￿ oinission or iDtentional ￿lsr¢pl.¢Sc￿tatlon. CAMBRIDOL ME-fFIODIS'I' CIIICUII- FINANCIAI. SI'ATEMENTS I."OR'I-14E YEAK ENDLD 3 IS'I. AUGUST 2Q24 rNDEPE£NI)LNT AUDITOR'S REPOR'f TO TFLE MEMBERS OF CAMBRIDGE MEfHODIST CIRCUIT A Furthcr dcsLription of our rcsponsibilities lor the audi.. of the finan4 ¢3 CAMBRIDGE MI?THODIST CUiCUII' PACIP. IQ FtNANCtAL STATF.MF.NT8 foR TIIE YEAR CNDID 3 1ST AUGUST 2024 BALANCE S14F.EI' 2024 2023 Notss FIXED ASSEI'S Tdngible fLxed assets Investments 3,528,000 642,982 3,548,500 631,823 TOTAL VtXED ASSETS 4,170,982 4,180,323 CURRLWI. èlSSETS Ccnlrdl Financc Board- l)eposit Accounts L'ash at bank and in hand Debtors 322,357 16,204 5,845 403.044 8,525 7,845 I'OTAL CURRENT ASSETS 344.406 419,414 CREDITORS: amounts falling due within one year 10 53,656 50,435 NFT CUKR*:LYT ASSKTS 290,740 4.46l,732 368,979 TOTAL A&iSITS L14SS CURRENT LIABILrriKs 4,549,302 4,549,302 NET ASSbTS 12 4,461,732 THE FUND,5 OF'I'HL CIIARrrY Unre$tri¢ted incom- ￿t)dS Ilestricted income fun(is 4,450.758 10,974 4,5?6,488 12,814 TO'fAL CtIARITY FUNDS 4,461,732 4,549,J02 AppToved by th¢ Trustces on and SI￿¢d on thcir behalf by.. REVF.Kf.ND R WESTWOOD 'IRUSTLE The notes on page5 12 to 17 fomi part oEtho5e financial statements. CAMBRIt)CJL m￿'1'PloD[S'l. CIIICUI'I. PAGb. I I FINANCIAL S'I'A'I"EMLN'I'S rok'iTrIL YLAR FNDf.D 31ST AUGUS'f 2024 STA'fEMLN'I" 01," CASFI fLOWS 2024 2023 Notes CASEI USF,D IN OPEEiATING Ac'rtvrtF Net cash used in operdting ￿tivIti¢5 14 (I 12,6291 {46,691) CASII FI.OWS FROM INVF.sfiiyG A￿1vITIF In(erest ITccivcd Lcttiii>or incoLme Addilions to invc5tments 19,906 21,600 (1.885) 39,621 9,000 (29) 21,96ei NV.T CASEI PROVtDED BY INVESTlTriG ACTIVJTIES CFIAN(;F, INCASH AND CASFI EQUIVALENTS IN TIIEYEAR (73,008) (24,727) CASH AND CASII EQUIVALKNIS AT THE BEGINYING OF THB YEAR CASH AND CASII EQUtVALF.NTS AT THE END OF THF YEAR 411,569 338,561 436,296 411,569 CAMBRIDGB ML1'HODISI' CIEiCUII' PA(iE 12 INANC'IAL S'I'AI-LMLN"I-S FOR'II4E YbAK LNDI-D 3 1ST AUGUST 2024 NOTES'I'O'I'III.. FINANC.IAL SI'A1'P MENTS ACCOUN'L ING POLlClkS (a) BASIS OI". PREPAiiA'I'ION The f11dncial statemL ents have been prepared in accordance with the Statement oeRecommendcd Practice: Accounting and Keporting by Cli ariiies preparing thoir fin&ncial statements in wcordanc¢ with the fiiiancial Ilepc>rtiis Sundard applicable in the UK &id RepubJG o: Ireland (FRS 102) (effectsvc l J&ruary 2019)- (Cbai'ilies %ORP {I.-RS 102)) and the financial Reporting Strdndard applicable irL the UK and K¢public ollJeland {FRS 102). 'I'he financial staterrkcnt5 are prwrited in sterlin& which is the fi]nclional cu￿enCY of the chaiily. 'I'ILe Cambrid(te Mcthodi5t Circuit mc¢ts tho definition of È public benefit entity under I,-IiS IQ2. Assets liabilities are iiiitially recognised at historical cost or tra[￿c￿1)n value) uttleas otherwise statcd in the r¢levant accoullting policy notes. (b) ASSF.SSMEKf OF GOING CONCERN Tlio'l'rustees considcr th&t thcre are no materÈd llTrcertaittties about the Circuit's ability to continue &% a going Eoncern. (c) INCOME Income is r¢cogtJised in thc year in which the chariiy is entitled to the reeeipL and the amount cAn be measured with rcasoiiable ccrtainty. Income is only (iefeyed thc charity has to fulfil conditions before becoming entitled :o it or wherc the dotLor has specified &iat the income is to be expend¢d in a fijture yedr. ssessmenl or 3hure Ass¢ssincnt incotnc 15 recogniscd upon the Cirwit notifying ￿e&Sable churches in writints of both the ainount and seitlemcnt date. Aksessments for local churches under the Lircuit are ￿VIeWed on an ￿)nUal basis depcndent on incomo and membeTship levels of each assessable church. The purpose of the incotnc is to ovcr various ministcrial COSLS aS50¢iat¢d cach church. CaFrtL71 receip£f Capitaj re￿IPts ar¢ rc£ognisEd when the Circuit has leg&1 entitiernent to the funds, and where r¢levanL upon COEnplcLion dRt¢. Capital r￿CEpts relate dsrectly io the sale of donated18nd and buildings where the Circuit is giv¢n ¢ntitl¢meni. (d) LXPbNDI'I'UIIE AND IRIiECOVERAfiLE VAT Exper.diture is recognised once Iherc is a legal or constructive obligation to make a oayment to a third pariy, it is probaDlc that sc'.tlcniellt will be reqLkired and the imount of the obligatior: can be rne￿urCdIrIiabIv. All expellditiLre is 41ccounted for on an accnjals basi5. All expenses including support costs &nd govcmancc Losts are allocdied or apportioned io the following expellditure beadings as follows.. Ckariluble octivit£aY.' l-.xpLnditUTe on ch?.ritsblc activities includes'the ¢osts of aCti￿tieS undertaken to fvrthei. the pJrposes of tlie Circuit FÉnd their 3SSOCi&ted support costs. Costs relating to a particular acti&ity are allocated directly, i)tl)ers aTE apportioned on an appropridle basis. GovemancE costs include all expenditure not directly relttcd to the charitable actLvity or fundraisiiig ventures. This includes an appi'opriat¢ proportion of costs ofstaff salari¢s for administr&tion Siaff wd audit fees. ITrccovcr&ble VAT i5 charged a5 a cost against the activity for which ihe expenditure was inDurred. No furtb.er analysis of cxpendi*re is providcd in the notes a5 thc Tnjstees deem suitable analysis is provided on the Statement of l.inan¢ial Aclivitie5. (c) OPEEIA'IING LEASES Rentals applicable to ope",atintr Icascs where Substantially all of the benefits and risks of ownersliip retnain with the les50r. are chargod against income as InCur￿d. CAM131IID(tE MF.'f140DIS'I' CIIiCLn"r PA(rE 13 I-,INANCIAL, STA'I"LME,TrrI"s FOR'I'HE YEAK ENDED 3 1ST AUGUS'F 2024 NOTF.S TO TI.IE IPINANCIAL s'fA'fLMF.N'rs ...... JCONTINUED (Q'CANGIi3LL flXF.D ASSF.TS 'rhc'lrusi¢es Consider that thc ￿arket value of the freehold properties is in exc¢ss of its cost a5 shown in dic financial statetnents, and ihat ir, view olihis there is no lleceksity to charge depreciation on them. Ihe charity has a policy of capitslising any fixcd assets in excess of £2100. (g) INVESI'MEN'I- FIXED ASSL'rs Invcsiments are a foi"Tn of ba5iG fip.a]icial in5truintDt and are initially recogn.scd & their trail saction valu¢ and subsequenily ￿t￿ured at ￿.eir fair value &8 dt the baiante shcet date using the most Te£ent profe55iollal valuation. Thc Statement of financial Activities includes the net gaiDS and loss￿ 8xising on revalualion and disposals thruughout the ycar. Thc Circuit does not wuire put options, derivatives or other cotnplex financial in5tnuncnts. l-he main form O'L f￿ancial risk fa¢cd by th¢ c.'.arity is that of volatil:'ty in property markets due to wid¢r onotnic conditions, the attitude of Investors'￿ investmenc risL aud changes in selltiment concerning properly investment and within particular sectors or Sub 5CCtOT5. (h) PENSIONS The Circuit Pay5 pcn5ioll contributlOn5 for the fivE Circuit Minisrers to thc Methodist Ministers, Pension 8chcme. which is a final aalary d¢fii)ed ben-fit scheme. 'fhe pens',on charge repTescnts the amounts payab ¢ by ihc Circuil to (hc fur.d rcspcci of the year. The overall respollsibiltty and liabiliLy:or ihc fulld and deFicit tou arr&igcm¢nt lics with ConiLxion gnd 15 dis¢:osed in their financial s￿leMents. The Circllit operates a defined conlribution scheme. ColltributÈons are ch￿ged to the Statement ot'Financial Activitl-5 in the ￿riod to whith they Tel￿e. (i) FUND ACCOUWI'IN(i Ilnrestricted Fiinds are available for use at the dtscretion of the Circuit in furttL¢rance of the objectives oFthe Circuit are lunds set aside by the Circuit in order to undert2ke specific projects, or equalise anticipated tnajor expenditrdre on mal￿￿Than¢¢ of fixed asscts in Cutui'e years. monie5 subj¢ct to reglllalion by the donors of the ￿llds as to tl)eir use. Designaied l-.utLds Restricted funds (Unreslrictedl Circuit Model I'rust Si¢stricted Fund Funds GEblEff8 RPCF,tk'l-,D Year cidcd 31 SL AugiLgt 2024 2024 General Fund Conncxional Diaconal Grdnt The Leys 105 105 105 105 (Unrestricted) Circuit Model TrLSt Restt'icted I".unds GRATrrrs RECLIVCD Year ended 31st August 2023 2023 'I'otal Getkeral Fund Connexional Diaconai GrdT)t 'Ih¢ l.eys 18,000 105 18,000 105 18,105 CAM131UDQtE ME'f140DIS'I' CIRCUI'r PAGE 14 FINANCIAL s'fA'fLMI:,N"I'S FOR TFtE YEAR EWDf.D 31 ST AUGUSI. 2024 NO'fBS'I'O'I'HL fiNANCIAL S"I'A'fEMEN"IS ... ..JCONTtNUED (Unrestrict¢d) Circuil Model Tru￿ Restricted und Funds OI'IIE.k tNCOMI Year ended 3 1st AugusL2024 2024 General Fund -.unds [xtsttcies (Unrestricted) Circuit Mod¢l Trust Restricted I",und OTHER INCOME Year endcd 3 1st August 2023 2023 Gcnerdl Fund l-,unds Legaci¢s 27.664 27,664 (Unrestricted) Circuit Model 'rn￿t Ilestricted Fund IN"I"F.RE8'f AND INVESTMLNT INCOME Ycar crydcd 3 1st Au8Ld 2024 2024 I'otal I".unds General Fund Interest on deposits 6,348 13,558 19,906 (Unrestricted) Circuit Model Trust Restrictsd Fund iTrtl"F.Rr.s'r AND INVLS'I'fvILThI'I' tNCOME Ye￿- en(kd 315t August 2023 2023 'rotal Fuiids General Fund Intercst on deposits 2.971 10,022 12,993 'FRUS'I'CT-; AND s'fAr.'r RLMUNERA'I"ION 'rhe staItcosts were= 'I'rustees (Circuit Ministers) and support staff Salaries Social security costs Pension costs R¢locaiiors costs 2024 2023 126,735 12,200 29,587 121,672 11,373 27.869 (1,8551 159,059 168,522 Averd(FC weekly number of starf employed during the year: rull time Part tiTne I'he Circuit Minist¢rs arc also Trnstees of the CtrcuiL Reverend R Westwood, De&con l Murrny, Keverend J Pathmarajah and Reverend C Nzegw No mcmber of staff received remunerdtion of rnore th4n £60.000 dUri￿tr the year. r,our Cl￿ul1 Ministcrs liv¢ in properties wholly ovmed by the Cir¢uiL Expsnses totsllintw £429 (2023.. £5292) were i'eitnbursed io irus&ees. 'rhe'frustces considerthey are the kcy tnanagBment and the Circuit Mintsters are remuneratcd. TILC total compensation received includillg benefits is £1 [6.322 {2023.. £IA9,541). CAMBRIDGE MEI'HODIST CIRCUI'r PAGE 15 FINANCJAL STATEMENTS FOK Tt4E YEAR ENDED 31 ST AUGUST 2024 NO'fES TO THE FINANCIAL s'fAI'EMENTS .........JCONTtNUED NET MOVEMENT tN fl￿IDs FOR THE TrEAR The net mowetneDt in funds for th¢ ycar is stèted after charging: Audit fee 2024 2023 4,190 3,752 In COttLnOll With other small entities ofour siz¢ and nature we use our auditors to a55iSt with the preparation of o'Jr fin8ncial st&tements. TANGIBLE FIXED A8sE'rs Year ended 3 1st Au.ousi £024 Freehold pi'operty (manses) COST Balaice at 1st September 2023 R¢valuations 3,548,500 .{20,500) 3,528,000 Balance at 3 ISL August 2024 DEPRECIA'FION Balance at 1st September 2023 and 3 ISL August 2024 NET IIOOK VALUE. * 3 1st August 2024 3,528,000 TANGIBLE FIXED ASSEI3 Year ended J Is( August 2023 Freehold propety (TnatLs¢sI COST Balance at 1st sept￿nber 2022 I'ransfcr to illVCSttnents Tralls.er frotn investments Revaluations 3,436,000 (59J,000) 763,500 (58.0001 3,548,500 Balance at 3 1st August202J DEPRECIAI'ION Balance al 1st September 2022 and J 1st August 2023 NET BOOK VALIJE at 3 1st Allgust 2023 3,548,500 Book Value Book V&lue GAINS AND LOSSES 01.09.2024 01.09.2023 68 Meltiourn Road, Roy5ton 37 Maids CatssewLy, Cambridgc la Radcgllnd Ro&d, Cambridge 2 Mowlam Close, Impingto 664,000 698,500 1,215,IM)0 1,190.000 880,000 908.500 769,000 751,500 3,528,000 3,548.500 I'he properti2s wor¢ revalued by tho t￿tst￿ this year with referenc£ to the relevant sour¢¢s. The values are hir value based on open Mket value. INVESTMf..NTS 2024 2023 Circuit Fiinance Board managed fimd 12 Moss Drive. FI￿11nryfl¢1d Investtnent account 1,727 575,000 66,255 1.587 570,000 60,236 631,82J 642,982 CAMBIIID