2024-08-31-accounts

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235

www.aylesburyvale.org.uk

Trustees’ Annual Report 2023-24

Correspondence Address: Superintendent Minister Revd Richard Atkinson 6 Herston Close, Aylesbury, Bucks. HP21 9UR

OVERVIEW

INTRODUCTION

The Vale of Aylesbury Methodist Circuit (VOAMC) comprises sixteen churches, fourteen of which are in Buckinghamshire and two in Oxfordshire. Of our churches, Christchurch Thame is joint Methodist and United Reformed; two are united with the Anglicans (Hardwick & Weedon and North Marston); a third, at Fairford Leys, a three-way LEP with Methodist, URC and Anglian participation.

The churches are situated in:

Aylesbury	North Marston	Fairford Leys
Cheddington	Princes Risborough	Chinnor
Stewkley	Stone	Cuddington
Swanbourne	Waddesdon	Thame (Christchurch)
Wingrave	Hardwick & Weedon
Haddenham	Whitchurch

The circuit employs three full time Presbyters, one of whom acts as Superintendent Minister. The church at Fairford Leys employs its own minister. Our churches are grouped for mutual support and fellowship. We are part of the Northampton District of the Methodist Church of Great Britain.

The Circuit Meeting is the main decision-making body which normally meets twice a year. In the intervening times the Circuit Leadership Team comprising the Presbyteral staff, Circuit Stewards and other key figures, watches over the life of the Circuit.

AIMS AND ORGANISATION

Charity objective is to act as a Resource provider within the area around Vale of Aylesbury for the Methodist Church:

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 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 subsidiary or ancillary to The Methodist Church;

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235 www.aylesburyvale.org.uk

• d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church.

The organisation and resourcing of regular public acts of worship open to members of the church and non-members alike.

The teaching of Christianity through sermons, courses and small groups.

The resourcing of pastoral work including visiting the sick and bereaved.

Taking religious assemblies in local schools.

Promotion of Christianity through the staging of events and services.

Provision of chaplaincy services to the local university and other institutions

MISSION STATEMENT

We are a mutually supportive team of churches in and around Aylesbury. We are all committed to a common purpose of channelling God’s unchanging love for all people in our constantly changing world.

• 1 Circuit Leadership

• 1.1 Relationships: To build links with other churches and faiths identifying potential for joint working.

• 1.2 Local support: To support local congregations to identify priorities for mission, develop strategies to pursue these and provide leadership continuity.

• 1.3 Resources: To regularly review our Circuit deployment of people, finance and property.

• 1.4 Internal Communications: To constantly consider the communication needs of our churches in relation to Circuit policies and actions.

• 2 Worship

• 2.1 Circuit: To worship together as a Circuit and to foster a sense of Circuit identity.

• 2.2 Prayer: To encourage participation in and the development of Circuit Prayer services and events.

• 2.3 Congregation development: To provide meaningful weekly worship, to identify and facilitate alternative approaches to worship, the development of local congregations and support of smaller churches. To regularly present the challenge of Christian commitment and church membership to all those associated with the circuit churches.

• 2.4 Ecumenism: To encourage local churches to explore shared worship with other churches in their community.

• 3 Learning and Caring

• 3.1 Training and Development: To identify needs and to provide both financial assistance and opportunities for personal and church growth by appropriate events and training for Church Stewards, Youth & Children’s workers, Local Preachers, Worship Leaders, Musicians, Pastoral Carers and other identified groups, including ecumenical partners.

• 3.2 Personal faith: To encourage people to increase and develop their personal faith through Bible Study, Fellowship and small groups.

• 3.3 Pastoral: To ensure appropriate pastoral care for all congregations.

• 4 Service

• 4.1 Community needs: To encourage churches to investigate and respond to the needs of their local community and new housing developments, especially in the use of our buildings.

• 4.2 Welcome: To provide a welcoming environment for family occasions, Christian Festivals and other community events.

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235

www.aylesburyvale.org.uk

• 4.3 Issues and Concerns: To provide a forum for publicising and supporting issues of local or global concern, especially climate change, justice, freedom and humanity.

• 4.4 Fair Trade: To be a Fair Trade Circuit by all churches maximising their use of fairly traded goods to give a fair return to third world producers.

• 5

• Evangelism

• 5.1 External Communications: To explore appropriate means of presenting the life changing Good News of Jesus Christ in the local community.

• 5.2 Publicity: To make best use of available means of publicity including the external image of our churches and the practical Christian love of our members within the community.

• 5.3 Training: To provide training in personal evangelism to enable all our people to share their faith effectively.

• 5.4 Seekers: To ensure opportunities regularly exist for people to explore the Christian faith. To develop a church life of wholesome Christian spirituality in our witness to each other, the local community and the world.

• 5.5 Chaplaincy: To support chaplaincy work in its various forms

FINANCIAL REVIEW

INCOME TRENDS

Income rose by 3% (£7,546) year on year with assessment paid by circuit churches continuing to make up the bulk of regular income (79%). Assessments collected rose by 4%, interest income by 42% and Stoke Mandeville lettings, which continues to be managed by Aylesbury Methodist Church Council rose by 17%.

Total income was 9% above budgeted due to increased lettings and higher interest, partially reduced by lower assessments as agreed for some churches by Circuit in May 2023. The assessments were reduced by withdrawing funds from the Circuit Model Trust Fund to help support churches in light of the significant increase in the level of district assessment.

EXPENDITURE TRENDS

Expenditure rose by 19% (£42,338) year on year with the main categories of regular expenditure being salaries and associated costs, property and District Assessment & Levy, which rose by 5%, 64% and 28% respectively.

Total expenditure was 6% higher than budgeted due to higher manse repairs and maintenance costs, partly offset by lower travel and administration expenses.

Property costs were higher than budgeted due to higher costs for King Edward Avenue and the replacement of the boiler at the Henrietta Road manse.

District Assessment & Levy costs of £48,784 were 28% higher than the previous year (£38,236).

The only donation given was to Aylesbury Town Chaplaincy.

The net general fund expenditure for the year was £34,784 which includes a loss of £11,872 on the revaluation of the manses.

FUND BALANCES

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235 www.aylesburyvale.org.uk

Total funds carried forward stand at £2,993,573. About 77% of the value of this fund is held as freehold property, being manses for ministers, and from time-to-time churches closed for worship in the Circuit.

PLANS FOR 2024/25

We continue to be mindful of the need to support our churches through the challenges and opportunities of the present, to this effect we are looking at possible use of the Model trust fund to help enable this. We welcome the arrival of the new Children’s worker in the year to complement Mission and evangelism.

The budget for the coming financial year allows for the current complement of three full-time ordained ministers funded by the Circuit.

The Children’s worker is being funded jointly from reserves and a District grant.

Budgeted Income (assessments paid by churches) has increased by 7% in line budgeted expenses. Expenses are expected to rise due to increased salary costs and district assessment.

Income and expenses related to Stoke Mandeville church building are included in the budget.

FINANCE AND GOVERNANCE

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Standard applicable in the UK and Republic of Ireland (FRS 102), (effective from 1st January 2015) - (Charities SORP (FRS 102)).

The members of the Vale of Aylesbury Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches. Full membership is shown as Appendix A to this report.

The Trustees for Methodist Church Purposes (TMPC) are the Custodian Trustee of Circuit Properties.

CIRCUIT MINISTERS AND OFFICERS

CIRCUIT MINISTERS:

• The Rev’d Richard Atkinson

• The Rev’d Noreen Daley-Lee

• The Rev’d Hee-gon Moon

• The Rev’d Anthony Howells

CIRCUIT STEWARDS:

• Lynn Bernstone

• Jamie Gannon

• Chris Sara (resigned Sep 2024)

• Kathryn Trout

• Keith Wallace

• Catherine Whiteway

INDEPENDENT EXAMINER:

Michael L Foote 8 Bates Lanes Weston Turville, Aylesbury Bucks. HP22 5SL

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235

www.aylesburyvale.org.uk

BANKING AND INVESTMENTS:

National Westminster Bank Plc

22 Market Square, Aylesbury, HP20 1SJ

MetroBank

45 Market Square, Aylesbury, HP20 2SP

Central Finance Board of the Methodist Church,

9 Bonhill Street, London EC2A 4PE

Trustees for Methodist Church Purposes

Central Buildings, Oldham Street, Manchester Ml 1J

CIRCUIT TREASURER:

Pearl Doughlin

PUBLIC BENEFIT

We confirm the trustees have had regard to the Charity Commission's guidance on public benefit.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976).

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).

Day to day management of the circuit is undertaken by the Superintendent Minister and the Circuit Leadership Team.

RELATED PARTIES

The Circuit is part of the Northampton District and is also accountable to the Methodist Conference.

RISK MANAGEMENT

The Vale of Aylesbury Methodist Circuit:

• takes professional advice as and when required.

• follows procedures and guidelines issued by the Methodist Church to mitigate risks.

• adopts and implements the Methodist Church's robust safeguarding policies and procedures in the Circuit and the local churches.

SAFEGUARDING

The Methodist Church, along with the whole Christian community, believes each person has a value and dignity which comes directly from God’s creation of humans in God’s own image and likeness. Christians see this as fulfilled by God’s re-creation of us in Christ. Among other things, this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235 www.aylesburyvale.org.uk

The Vale of Aylesbury Circuit is committed to the safeguarding and protection of all children, young people and adults and affirms that the needs of children and of people when they are vulnerable and at risk are paramount.

The Vale of Aylesbury Circuit recognises that it has a particular care for all who are vulnerable whether by disabilities or by reduction in capacities or by their situation. It is recognised that this increased vulnerability may be temporary or permanent and may be visible or invisible, but that it does not diminish our humanity and our wish to affirm the gifts and graces of all God’s people. This policy addresses the safeguarding of children, young people and vulnerable adults. It is intended to be a dynamic policy. It is intended to support the Church in being a safe, supportive and caring community for children, young people, vulnerable adults, for survivors of abuse, for communities and for those affected by abuse.

The Vale of Aylesbury Circuit fully agrees with the statement reiterated in Creating Safer Space 2007: As the people of the Methodist Church we are concerned with the wholeness of each individual within God’s purpose for everyone. We seek to safeguard all members of the church community of all ages.

The Vale of Aylesbury Circuit recognises the serious issue of the abuse of children and vulnerable adults and recognises that this may take the form of physical, emotional, sexual, financial, spiritual, discriminatory, domestic or institutional abuse or neglect, abuse using social media, child sexual exploitation or human trafficking (slavery). It acknowledges the effects these may have on people and their development, including spiritual and religious development. It accepts its responsibility for ensuring that all people are safe in its care and that their dignity and right to be heard is maintained. It accepts its responsibility to support, listen to and work for healing with survivors, offenders, communities and those who care about them. It takes seriously the issues of promotion of welfare so that each of us can reach our full potential in God’s grace.

The Vale of Aylesbury Circuit commits itself to:

1. RESPOND without delay to any allegation or cause for concern that a child or vulnerable adult may have been harmed, whether in the Church or in another context. It commits itself to challenge the abuse of power of anyone in a position of trust. It commits itself to providing informed pastoral care to those in need, including the supervision of those who have committed criminal offences. 2. IMPLEMENT the Methodist Church Safeguarding Policy, Procedures and Guidance, government legislation and guidance to achieve safe practice in the circuit and in the churches.

2. The PROVISION of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.

3. AFFIRM and give thanks for the work of those who are workers with children and vulnerable adults and acknowledge the shared responsibility of us all for safeguarding children, young people and vulnerable adults on our premises.

RESERVES POLICY

The Reserves Policy for the Circuit is to hold a minimum sum equivalent to six months' average expenditure. In addition, the Circuit will hold sums relating to specific budgeted expenditure, such as: planned repairs and renewals; relocation expenses of ministers; and outreach projects. This should be sufficient to meet any unforeseen item of major expenditure on manses and/or to be able to continue, in the short term, funding of planned activities in the event of any inability to raise the full Circuit Assessment from churches.

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235

www.aylesburyvale.org.uk

LEADERS OF WORSHIP & PREACHERS REPORT

We continue to pray for Arthur Sara who is recovering at home after breaking his hip for a second time. We are grateful to all preachers who have been willing to take his planned services for the next few months

Our prayers are also for Paul Thomas from Stewkley who has been given a serious diagnosis. He will not be able take services anymore and we thank him for many loyal years of service as an active local preacher.

Geof short is now at home continuing his recovery from the stroke which has kept him in hospital since before last Christmas. We pray for him and Paula as they get used to the new regime of home life with his disability.

We are pleased to announce that Nick Aylen, from Aylesbury, can resume ‘On Trial’ as a local preacher (He will be formally re-instated at our LW&P Meeting next week.) He was ‘On Trial’ some years ago but had to pause his preaching and study due to very long working hours. He has now retired and able to take up the role again. We wish him well.

We urgently need people who feel God calling them to the role of local preacher. Our small band of very dedicated preachers have many who are getting elderly and may not be able to continue for many more years. We need more LPs in the circuit to reduce the load on others and to ease plan making. Please if you feel this is something you could undertake, please talk to a minister or preacher and you will be gladly welcomed and given the information you will needs to make your decision.

I need someone to sit alongside me to learn what is involved in being Circuit Local Preachers Secretary. I am needing someone to follow me when I can no longer fulfil the role. If you feel this is something you could undertake, please talk to me.

ECO report

Background

• The Methodist Conference has set a target of becoming a Net Zero emissions Church by 2030.

• The Northampton District is a registered Eco District. This registration recognises the District's attention to the care of God's creation.

• Constituent Churches are encouraged to engage with Eco Church principles/ Awards-The District can apply for Eco Church Awards but, like Circuits, it is dependent, in part, on the endeavours of its constituent parts working towards Net Zero and achieving their own Awards.

• representatives from District Circuits meet 3 times a year to share info, progress, ideas and offer encouragement.

• In common with other Circuits, the Vale of Aylesbury Circuit and its member churches have been called to consider what actions could be fulfil to help progress towards Net Zero

So what has been happening?

What are Circuits, churches and individuals being asked to consider?

• How to achieve Carbon Reduction – info is available as are audits to assess issues

• What can the District do to support efforts?

• Review and evaluate energy contracts at renewal.

• Engage in conversations at all levels, ie Circuit, Churches and as individuals.

• Ensure accuracy in data in Property returns re Eco matters to aid data gathering

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235

www.aylesburyvale.org.uk

The District ;

• continues to develop Action for Hope to provide a focus for the journey to assess both Carbon Footprintsand achieving Net Zero.

• have created an Environment Policy which you can read by visiting https://www.northamptonmethodistdistrict.org.uk/about-us/policies/

• will be looking to Property reports to analyse Eco matters/ data.

• continues to work on developing a sub group to formulate a policy for moving forward.

• have developed more info on grant mechanisms to support Eco ideas.

• What have individual churches done? ( ie feedback from Eco summit meetings)

• conducted Energy audits on their buildings (pro formas are available as a guide)

• considered how to retain heat generated within premises.

• registered for and progressed Eco Church Award applications, several achieving Bronze Eco Church Awards.

• considered eco issues in relation to travel and administration arrangements associated with church practices.

• secured a grant for installing LED lighting to their building

Question: What is our response? Have you read:

https://www.methodist.org.uk/for-churches/property/net-zero-carbon

FAIRTRADE REPORT

What has been happening;

• The range of Fairtrade goods has widened. Shops provide ethical and Fairly traded lines. The Fairtrade symbol continues to be used on approved items.

• stock items held at Chinnor, procured from various Fairtrade outlets,continue to be made available to local churches, organisations and individuals

• links continue with the Church school in Chinnor, providing items for sales.

• stalls have been provided at Summer events in Chinnor village and for Friends of the Earth. Bookings for events leading up to Christmas have been arranged.

Where are we now?

• The Traidcraft name is re-emerging on items such as tea.

• New companies, such as ‘Wish for Fairtrade’ are bringing new lines to the Fairtrade range.

• ‘We are Fairtrade’ have commissioned new Fairtrade lines in Tea and household consumables

• Climate issues continue to cause problems for crop yield and production..

As always, if there are churches who would like more information about taking further steps to engage with providing or promoting Fairtrade items, please contact me.

Fairtrade Fortnight 2024 will be held between 9th – 22nd September

The theme is ‘ Be the Change’ – (a call to all to help bring about changes in trading practices). Please do what you can to support this annual promotion of Fairtrade.

(NB that this event will now be held in September rather than February)

A reminder of what you and Circuit Church groups can do? (some things are worth repeating!)

• consider, swap or request making a Fairtrade item part of your own or the church’s shopping.

• look for the Fairtrade symbol (faint image for ingredient, bold image for product)

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235

www.aylesburyvale.org.uk

• look for the CertB mark on Fairtrade items – showing the whole business applies fair practices

• read the packaging as to the source and ethics of a product.

• consider giving a Gift for Life card for celebrations. (visit www.ethicalsuperstore.com.uk or see Rod

• Sending Christmas cards?- please consider those from sustainable/ ethical sources.

• want to try before you buy? Samples available on most food items. Please contact Rod

• Try visiting the following company websites to view their Fairtrade / Ethical items

• ‘We are Fairtrade’, Namaste, Divine Chocolate,

Prem Crest (wholesale outlet) Kingdom Coffee Ltd (Reading based)

As always, thank you for the ongoing support; it does make a difference.

MWIB REPORT

Changes made last year to the leadership has worked quite well, Ruth Parrott who led the northern part of the Connexion has retired and has been replaced by retired minister the Revd. Leonora Wassell who lives in Harrogate.

Daffodil Day (DD) at Methodist Central Hall Westminster this year was on Saturday March 2nd, we are still down on numbers since the day was changed but this year there was an increase so we hope to have at least broken even on costs. The title for the day was ‘Blessed and Called to Bless’. We had various speakers from different organisations like Methodist Homes, the President of Conference spoke and the Youth President gave a lively talk giving us hope for the future of the church. The date for next year is March 1st.

The annual Swanwick Conference . this was held on the weekend of April 19/20/21 and was fully booked plus it was available by zoom. It was entitled “Words Create Worlds’ the keynote speakers were Jenny Pathmarajah and Becca Byass from AllWeCan. It high lighted how words can be used for good or bad and more deeply how the bible translated can often be misconstrued.

Methodist Conference

The MWiB event this year was another Mary Bosanquet lecture this time by Chine McDonald for anyone wishing to listen to this it can be found on the MWiB Youtube channel.

World Federation of Methodist and Uniting Church Women This year the European Conference was held in Porto and entitled ‘Grounded in Love’ I was able to attend, along with a large group from Britain joining with women from across continental Europe. It was led mainly by women from Europe Continental with input from Britain and Ireland. The event was very well organised and it was wonderful to see so many young women there with great faith.

Easter Offering for this year raised £1266.31. A slight increase on last year despite not all the churches who participating. Thank to all those who read my letter and delivered the money and envelopes in the correct way!!

Online things like the Prayer diary and the Presidents blog can still be found on the MWiB website www.mwib.org.uk and this will give you a broader view of what is happening. Our Partnerships with AllWeCan , WFMUCW and Touchstone continue plus our links with the World Church.

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235

www.aylesburyvale.org.uk

SAFEGUARDING REPORT FOR CIRCUIT MEETING 6TH SEPTEMBER 2023

• We begin this report by offering our thanks to those in our churches who fulfil the role of Safeguarding officer, ensuring that the circuit continues to be vigilant and strives to provide a safe space for everyone.

• We would also like to express our thanks to Pete and Arthur for their commitment to ensuring that the circuit has provided the necessary safeguarding training over many years. They have both expressed their intention to step down from this role and we are looking at how we can fill this gap as quickly as possible to ensure that we are able to continue to ensure that the necessary training is provided.

• Since the last Circuit meeting no referrals have been received , but we remain vigilant and members are reminded that anyone can be at risk and we should be alert to the possibilities. Safeguarding is not just about children but all of us can be vulnerable at different times in different ways.

• All safeguarding flow charts for churches do not need to be updated this year, but if churches need additional or new copies, please let us know; we would ask you all to look around your church premises and ensure that Safeguarding has a visible presence in every room as this establishes the culture we need to promote

• The Church Safeguarding Policy will be sent to the Church Officers for completion and should be agreed at the next Church Council meeting. This is the Connexional Model Policy.

• We are continuing to grow our database of the electronic version of the Safer Recruitment form. If any Church is appointing new officers, you must send the email address of the new post holder to the Circuit Safeguarding Team and we will ensure that the e- form is sent. The form can be completed on paper if necessary. The reason we have opted to do this electronically is because it means that information can be stored easily and securely. We are totally reliant on Church Ministers and stewards to inform us of appointments to ensure that this is implemented effectively. It is an essential part of best practice and if we fail to complete this and something goes wrong, we will, as Trustees, be held accountable.

• The updated Circuit Safeguarding Policy has come with this document for you to read in advance of the meeting. It will be presented at the meeting for approval. It is the Connexional model policy and therefore if we wish to deviate from this we would need to seek approval from the Methodist Church House.

Vale of Aylesbury Methodist Circuit Registered Charity No. 1134235 www.aylesburyvale.org.uk

Appendix A Vale of Aylesbury Methodist Circuit Trustees 2023/2024

Trustee name	Notes		Trustee name	Notes
1.Paul Alderman			31.Rev Hee-Gon Moon
2.Rev Richard Atkinson			32.JoyMurphy
3.Louise Atkinson			33.David Neville
4.Janet Banham			34.Albert Odro
5.Lynn Bernstone			35.Alison Orr
6.JennyBullimore			36.Mike Pullen
7.Sheila Cotton			37.DesQuinn
8.John Cotton			38.Alf Rogers
9.CathyCraft			39.Arthur Sara
10.Rev Noreen Daly-Lee			40.Chris Sara
11.Pearl Doughlin			41.Andrew Shaw
12.Robert Earl			42.MaryShurlock
13.Frankie Fisher			43.Sue Spinks
14.Jamie Gannon	Appointed 06/03/24		44.Margaret Stevens
15.Sarah Gibbs			45.Marilyn Storer
16.Kevin Hardern			46.Heather Stuchbury
17.Ken Harris			47.Rod Thorpe
18.Lynda Hart			48.Kathryn Trout
19.David Heffer			49.Violet Walker	Appointed 05/10/23
20.Douglas Hill			50.Keith Wallace
21.Pete Honeyball			51.Barbara Warne
22.Jane Honeyball			52.Ruth Watkins
23.Rev AnthonyHowells			53.Roger Watson
24.Eileen Humphreys			54.Colin Watts
25.Paul Ingram			55.Margaret Watts
26.Viv Kemp			56.Chris Webb	Appointed 05/05/24
27.Roger Kirk			57.Margaret Wells
28.Richard Maguire			58.CathyWhiteway
29.Jennifer Mariner-Kyle			59.Dawn Wright
30.Gill Marks

THE VALE OF AYLESBURY METHODIST CIRCUIT

Charity Registration No.1134235 Circuit no: 23/29 District: Northampton

FINANCIAL STATEMENTS

For the Year ending 31st August 2024

Page 1/17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Statement of Financial Activities (SOFA) for the year ended 31 August 2024

Notes to the accounts Income 1 Donations and legacies 2 Income from monetary investments 3 Income from investment properties 5 4 Assessments on Churches 3 5 Capital Receipts 4 6 Grants received 7 Other charitable income 5 8Total income Expenditure 9 Grants and donations 6 10 Salaries and associated costs 7 11 Property 8 12 Connexional assessment & model trust levy 9 13 District Assessment & Levy 9 14 Depreciation 1(xi) 15 Office & administration expenses 10 16 Other outgoings 11 17Total charitable expenditure 18 Gains/(losses) on monetary investments 12 19 Gains/(losses) on disposal/revaluation of properties Investment properties 13 Non-investment properties 13 20Net income/(expenditure) 21 Transfers between funds 22 Reclassification of funds 14 23 Other gains/(losses) 24Net movement in funds 25 Total funds brought forward 26 Total funds carried forward 25		Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted and Endowment	Restricted and Endowment	Total 2023-24	Total 2022-23
	Notes to the accounts	General Fund	Circuit Model Trust	Stoke Mandeville Church Income Fund (Designated)	Restricted Funds	Endowment Funds
		£ £ £ £ £ £ £
							- 17,052 51,876 213,222 0 - 0 282,150	- 11,444 - 205,416 - - 54,002 270,862
		6,138 213,222 -	10,537 -	198 51,876	-	179
		219,360	10,537	52,074	-	179
							2,000 128,478 75,656 8,525 48,784 - 7,535 2,250 273,228	2,300 122,805 46,242 8,689 38,236 - 6,698 6,394 231,364
		2,000 128,478 53,928 48,784 - 6,832 2,250	8,525 628	21,728 65	-	10
		242,272	9,153	21,793	-	10
		6,708 ( 18,580)	1,453	-		54	1,507 6,708 ( 18,580) ( 1,443) - - - ( 1,443) 2,995,016 2,993,573	( 919) - ( 140,538) ( 101,959) - - ( 101,959) 3,096,975 2,995,016
		( 34,784)	2,837	30,281	0	223
		76,169	(20,000)	(56,000)	-	( 169)
		( 85,212)		85,212
		( 43,827)	(17,163)	59,493	0	54
		2,769,953	220,496		970	3,597
		2,726,126	203,333	59,493	970	3,651

Page 2/17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Balance Sheet as at 31 August 2024

Notes to the accounts Fixed Assets Circuit Manses & Other Property 15 Investment properties 15 Investments 16 Total fixed assets Current Assets Debtors 17 Loans by the Circuit 18 Investments with TMCP 16 Central Finance Board Deposits 19 Cash at Bank and in hand 19 Total current assets Current liabilities (due within one year) Creditors/income rec'd in advance 20 Grants payable within 2018-19 Total current liabilities Net current assets/liabilities Total assets less current liabilities Long term liabilities (due after more than one year) Grants payable after 2018-19 Payable on loans to the Circuit Net assets Funds of the Circuit General Fund (Unrestricted) 21 Circuit Model Trust Fund (Unrestricted) 22 Designated Funds (Unrestricted) 30b Total Unrestricted Funds Restricted Funds 23 Endowment Funds 23 Total Funds	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted and Endowment	Restricted and Endowment
	General Fund	Circuit Model Trust Funds	Stoke Mandeville Church Income Fund (Designated)	Restricted Funds	Endowment Funds	Total 2023-24	Total 2022-23
	£	£	£	£	£	£	£
	2,290,220 250,080 2,540,300			-	1,161 1,161	2,290,220 250,080 21,394 2,561,694	2,552,172 - 19,887 2,572,059
		20,233 20,233	-
	10,397 - 134,999 77,255 222,651	183,100 183,100	10,725 3,989 47,828 62,542	970 970	2,490 2,490	21,122 - 185,590 138,988 126,053 471,753	22,396 - 204,206 146,108 82,997 455,707
	36,825 - 36,825	-	3,049 3,049	-	-	39,874 - 39,874	32,750 - 32,750
	185,826	183,100	59,493	970	2,490	431,879	422,957
	2,726,126	203,333	59,493	970	3,651	2,993,573	2,995,016
	- -					- -	- -
	2,726,126	203,333	59,493	970	3,651	2,993,573	2,995,016
	2,726,126					2,726,126 203,333 59,493	2,769,953 220,496 -
		203,333
			59,493
						2,988,952 970 3,651	2,990,449 970 3,597
				970
					3,651
	2,726,126	203,333	59,493	970	3,651	2,993,573	2,995,016

Page 3/17

Vale of Aylesbury Methodist Circuit Circuit no: 23/29 Notes to the accounts for the year ended 31st August 2024

1 Basis of Accounting and Accounting Policies

• i Accounting standard

The financial statements have been prepared in accordance with the relevant version of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.

True and Fair View override: The financial statements have been prepared to give a 'true and fair view', and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following the relevant version of the 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 (FRS 102), rather than the Accounting and Reporting by Charities:Statement of Recommended Practice effective from 1st April 2005, which has since been withdrawn.

• ii Public benefit entity

The Vale of Aylesbury 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 below.

• iii Basis

These accounts have been prepared on the basis of historical cost convention, except that Fixed Asset land and buildings have been valued at fair value as described in the accounting policy note below, and investments are shown at their market value at the end of the year. The accruals basis has been used, and the 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 they are based on experience, research and judgement. The accounts are expressed in £Sterling, rounded to the nearest pound.

• v Going concern

Based on the monetary assets and human resources available at 31st August 2024, the trustees believe that the Circuit is a going concern.

vi Consolidation

The Circuit has denominational regulatory oversight in respect of the work of the active 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 the active churches within the Circuit are not consolidated into these financial statements.

vii Income recognition

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

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 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).

viii 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.

• ix Grants

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 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 payments provision is applied to the fund from which the grant will ultimately be paid.

x VAT

As the Circuit is not registered for VAT, all expenses incurred with a VAT charge are included in the accounts inclusive of that charge.

Page 4 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

xi Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £1,000.

The freehold residential property is shown in the accounts at estimated net realisable value to the Circuit, by reference to information obtainable on the individual properties' market value via the internet, and seeking appropriate knowledge, guidance and expertise on the state of them and the land on which they stand. There is no information readily to hand of their historical cost to the Circuit. A further adjustment is made by way of a deduction from the value, of the anticipated levy by the Methodist Connexion where it is likely to apply in the event of disposal.

From time to time the Circuit may be required to assume responsibility for church premises following cessation of worship. This results in the Circuit becoming Managing Trustees for the property. The property is then recognised as an asset at its anticipated sale price. In the absence of a ready market for church buildings, this may entail resorting to a method of valuation by reference to the insured value to establish the Discounted Replacement Cost of the building concerned, with the addition of its site value. In each case a further adjustment is made by way of deduction from value of the anticipated levy chargeable by the Connexion on disposal proceeds.

No provision for depreciation is made because the Trustees consider that the current residual value of the properties in their present condition is not less than its historical cost, and, in the absence of any evidence of impairment, any depreciation provision for the buildings component of the properties would be immaterial.

xii(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 financial year are shown in the SOFA and in Note 12 below.

xii(b) Investment property

From time to time the Circuit may hold residential property (formerly 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 two years, the property is classified as Investment Property (whether let out or not), and any lets are at market rates, unless there is a compelling reason not to do so in furtherance of the Circuit's charitable objectives..

Similarly, where a church in the Circuit has been temporarily or permanently closed for worship, and the Circuit continues thereafter to hold the property for two or more years without a decision to dispose of it, it will be recategorised as Investment Property

xiii Receivables and payables

Debtors are stated at the amounts owed to the Circuit or prepaid. Creditors are initially recognised at settlement amount after trade discounts, where normal credit terms apply, or the amount advanced to the Circuit. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid.

xiv Loans as basic financial instruments

Where concessionary loans (i.e. free of interest) are made by 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 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 (SOFA). Subsequent reversals of an impairment loss that objectively relates to an event occurring after the impairment loss was recognised, are recognised immediately in the SOFA.

xv Methodist Connexional Funds

The Methodist Church Connexion raises assessments against Circuits , and they are paid quarterly to their Districts. The Circuits raise assessments against churches in the Circuit. The District quarterly remits to The Methodist Church Fund most of the sum received from Circuits. A small sum is retained by the District to meet its own costs. The Circuit may act as agent for ad hoc collections for various funds controlled and administered by the Methodist Church. These are detailed in Note 26 below.

xvi 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.

xvii Ministers' manse costs

The Circuit is required to provide accommodation for each minister and their families. 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, building 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 as income in the hands of the ministers.

Page 5 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

2 Comparatives and balances brought forward from the previous year.

The following provides in greater detail than in the SOFA on page 2 of these accounts, a list of the financial information for the previous year (2022/23) on an accruals basis of accounting.

Statement of Financial Activities(SOFA) for 2022/23(See also Notes 30a and 30b) Income 1 Donations and legacies 4 Assessments on Churches 5 Capital Receipts 6 Grants received 7 Other charitable income 8 Total charitable Income Expenditure 9 Grants and donations 11 Property 13 District Assessment & Levy 14 Depreciation 16 Other outgoings 17 Total charitable expenditure 18 Gains/(losses) on monetary investments - 19 Gains/(losses) on disposal/reval. of properties Investment properties Non-investment properties 21 Transfers between funds 22 Reclassification of funds 23 Other gains/(losses) 23 Net movement in funds 24 Total funds brought forward 25 Total funds carried forward 2,769,953 220,496 4,567 2,995,016 ( 98,282) ( 3,289) ( 388) ( 101,959) 2,868,235 223,785 4,955 3,096,975 - - - - - - - - ( 98,377) ( 3,289) ( 293) ( 101,959) 95 - ( 95) - - - - - (140,538) - - (140,538) ( 833) ( 86) ( 919) - 310 38,236 - 6,698 6,394 231,364 - - 10 - - - 638 - 9,327 300 2,300 - - 122,805 - 46,242 - 103 - - - - 54,002 270,862 - - 103 38,236 - 6,050 6,394 - 221,727 2022/23 Accruals basis Accruals basis £ 4,470 - 6,871 - 11,444 205,416 - - - £ 8,689 - 8,689 2,000 122,805 - General Fund UNRESTRICTED - Accruals basis 2022/23 2022/23 Model Trust Fund 2022/23 - 54,002 263,888 - - 6,871 46,242 Accruals basis TOTALS 20 Net income/(expenditure) 2 Income from monetary investments 3 Income from investment properties 10 Salaries and associated costs, incl. travel, phone & removals - RESTRICTED/ENDOWM'T 12 Connexional assessment & model trust levy 15 Office & administration expenses - 205,416 £ £	UNRESTRICTED	UNRESTRICTED	RESTRICTED/ENDOWM'T	TOTALS
	General Fund 2022/23	2022/23 Model Trust Fund	2022/23	2022/23
	Accruals basis	Accruals basis	Accruals basis	Accruals basis
	£	£	£	£
	- 4,470 - - 54,002 - 205,416	6,871 - - - - -	- 103 - - - -	- - - 54,002 11,444 205,416 -
	263,888	6,871	103	270,862
	38,236 - 6,050 6,394 2,000 122,805 46,242	- - 638 - - - 8,689 -	- - 10 - 300 - - -	38,236 - 6,698 6,394 2,300 122,805 46,242 8,689
	221,727	9,327	310	231,364
	ments - f properties - (140,538)	- - ( 833)	- - ( 86)	- (140,538) ( 919) -
	2,769,953 ( 98,282) 2,868,235 - - ( 98,377) 95	220,496 ( 3,289) 223,785 - - ( 3,289) -	4,567 ( 388) 4,955 - - ( 293) ( 95)	2,995,016 ( 101,959) 3,096,975 - - ( 101,959) -

Page 6 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

2 Comparatives and balances brought forward from the previous year- continued

Balance Sheet at 31st August 2023 Fixed Assets Circuit Manses & Other Property Investment properties Investments Total fixed assets Current assets Debtors and prepayments Loans by the Circuit Investments with Trustees for Methodist Church Purposes Central Finance Board Deposits Cash at bank and in hand Total current assets Current liabilities (Due in one year) Total current liabilities Net current assets/(liabilities) Total assets less current liabilities Long term liabilities (due after more than one year) 32,750 - 2,769,953 220,496 4,567 2,995,016 217,781 201,716 3,460 422,957 32,750 - - 32,750 - - - - - 32,750 - 82,027 - 970 82,997 250,531 201,716 3,460 455,707 - - - - - - - 146,108 - 146,108 201,716 2,490 204,206 - - 22,396 2,552,172 - 18,780 1,107 2,572,059 22,396 18,780 1,107 19,887 2,552,172 - - - - - 2,552,172 - 2022-23 2022-23 Accruals basis Accruals basis Accruals basis Accruals basis 2022-23 2022-23 General Fund Instalments on loans made to the Circuit £ £ £ £ Grants instalments payable within one year Model Trust Fund Creditors, income received in advance and accruals UNRESTRICTED RESTRICTED/ENDOWM'T TOTALS	UNRESTRICTED	UNRESTRICTED	RESTRICTED/ENDOWM'T	TOTALS
	2022-23 General Fund	2022-23 Model Trust Fund	2022-23	2022-23
	Accruals basis	Accruals basis	Accruals basis	Accruals basis
	£	£	£	£
	- 2,552,172 -	18,780 - -	1,107 - -	19,887 2,552,172 -
	2,552,172	18,780	1,107	2,572,059
	dist Church Purposes 82,027 - 146,108 22,396	- - - 201,716 -	970 - 2,490 -	82,997 - 146,108 204,206 22,396
	250,531	201,716	3,460	455,707
Total current liabilities Net current assets/(liabilities) Total assets less current liabilities Long term liabilities (due after more Instalments on loans made to the Circuit Grants instalments payable within one year Creditors, income received in advance and accruals	32,750 - - - - -		- - -	- 32,750 -
	32,750	-	-	32,750
	217,781	201,716	3,460	422,957
	2,769,953	220,496	4,567	2,995,016
	than one year)
Total long term liabilities Net assets / (liabilities) Grants instalments payable within one year Payable on loans made to the Circuit	- -	- -	- -	- -
	-	-	-	-
	2,769,953	220,496	4,567	2,995,016

Page 7 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

3 Assessments on churches

The Circuit was comprised of 15 (15 in 2023) active churches during the year. Each church is assessed for a contribution to meet the overall net costs of the Circuit. In making its Assessment budgeted income from investment income and letting income, and confirmed external grants and contributions are taken into account. The Circuit aims to cover all its net costs from the Assessment.

The Assessment on churches is annually determined by the Circuit using a formula which takes into account the relative income of each church, income being defined as and restricted to the sum of its weekly, monthly or annual offerings and Gift Aid refunds thereon, plus interest received, investment income and income from hiring of church premises. Assessments on churches are payable quarterly in advance, and are treated as prepaid on a receivable basis. If any church has not paid its Assessment for the year by the year end, the shortfall is treated as a debtor amount if it is regarded by the Circuit Treasurer as recoverable.

The Circuit active churches during the year on which Assessments were raised as above were:

Aylesbury Haddenham Waddesdon Cuddington Thame Wingrave Stewkley Whitchurch Swanbourne Chinnor Cheddington Princes Risborough

Other churches providing grants/contributions were Fairford Leys, North Marston and Weedon.

4 Capital receipts

There were no capital receipts from sales of property or other sources in 2022/23 or 2023/24.

5 **6 **	Other income Grants and donations Aylesbury Town Chaplaincy Grants made by Education & Youth fund Henrietta Road (manse temporarily let) rent receivable, net of agent's commission Income from hiring Stoke Mandeville premises.(NOTE: Income from this source this year[£51,876] has been categorised as Investment Property Income in a new Designated Fund). Other sundry receipts Received for ministers leaving present	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
		General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
		£	£	£	£	£	£	£
		- - - - - 2,000 2,000			- -		- 8,247 - 44,519 - 736 - 500
							-	54,002
							2,000 2,000 - 300
		2,000			-		2,000	2,300

Page 8 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

7 Stipends and associated costs

Stipends were paid to 3 (3..2023) Methodist ministers during the year. The appropriate financial information is as follows:

Methodist ministers: Stipends -gross Employers Nat.Ins. Contributions Defined contribution pension fund payments CfM Apprentice Levy Other ministerial costs Travelling Telephone Removal, stationing and relocation costs Total stipends and associated ministerial costs	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£	£	£	£	£	£	£
	90,024 8,767 23,435 582 453 123,261 3,915 702 600 128,478
	90,024 8,767 23,435 582 453					90,024 8,767 23,435 582 453	83,355 8,066 21,731 1,056 422
	123,261 3,915 702 600					123,261 3,915 702 600	114,630 4,865 939 2,370
	128,478					128,478	122,804

7 Stipends and associated costs - continued

There were no other persons employed by the Circuit.

No employees received benefits of more than £60,000. There is no accrual for holiday pay as it is considered immaterial; the holiday year ends on 31st August. All staff are paid at or above the living wage.

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.

7a Costs of Superintendent, Presbyters and Trustees

The Superintendent of the Circuit, the other Presbyters and remaining members of the Circuit Leadership Team (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 for the occupation of the Presbyters. The manses are maintained at the Circuit's expense. 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 presbyter.

Page 9 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

7b Payments to Trustees

It is not Circuit policy to reimburse non Presbyterial members of the CLT, Circuit Meeting and others involved in the administration of Circuit affairs for expenditure incurred in carrying out their duties. The Presbyters of the Circuit undertake the primary executive roles within the Circuit. Apart from the Presbyters, 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 and administration costs are reimbursed from time to time in relation to specific projects. Such payments have been made to 2 trustees (2 in 2022/23) for the following purposes:

General Fund Circuit Model Trusts Stoke Mandeville Income Fund Designated Restricted Funds Endowment Funds Total 2023/24 Total 2022/23 £ £ £ £ £ £ £ Practising certificate 337 337 316 Lunches for stationing candidates - - 76 Postage & stationery 143 143 - Honorary Treasurers' Forum 35 35 35 515 515 427 Property expenses Expenditure on the manses General Fund Circuit Model Trusts Stoke Mandeville Income Fund Designated Restricted Funds Endowment Funds Total 2023/24 Total 2022/23 £ £ £ £ £ £ £ Manses Council tax 9,954 9,954 9,081 Water supply 1,346 1,346 1,066 Utilities for vacant manses 287 287 291 Insurance 3,982 3,982 2,578 Repairs, refurbishments and maintenance 37,810 37,810 13,998 53,378 53,378 27,014 Expenditure on other Property Churches closed for worship: Stoke Mandeville insurance 1,626 1,626 262 Stoke Mandeville utilities 9,478 9,478 7,999 Stoke Mandeville upkeep, etc 10,624 10,624 6,461 Stoke Mandeville appraisal reports - 1,448 Quinquennial reports 550 550 3,060 Property Totals 53,928 21,728 75,656 46,244 Unrestricted Funds Restricted/Endowment Unrestricted Funds The Circuit is Managing Trustee for 4 manses (4..2023), 3 (3..2023) of which are occupied by ministers stationed in the Circuit. One manse had not been occupied by a minister but temporarily let externally for a market value rent, until it was once again required by the Circuit for occupation by one its ministers in 2022/23. Another of the manses became unoccupied when a minister left in 2022/23. It has remained unoccupied during 2023/24, but is up for sale.The Circuit is responsible for the payment of insurance and repairs for all properties, and with the exception of the let manse while it was rented out, is also responsible for Council Tax and water charges. Restricted/Endowment	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£	£	£	£	£	£	£
	337 - 143 35					337 - 143 35	316 76 - 35
	515					515	427
	Unrestricted Funds			Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£	£	£	£	£	£	£
	9,954 1,346 287 3,982 37,810 53,378 550 53,928		1,626 9,478 10,624 21,728
	9,954 1,346 287 3,982 37,810					9,954 1,346 287 3,982 37,810	9,081 1,066 291 2,578 13,998
	53,378 550					53,378 1,626 9,478 10,624 - 550	27,014 262 7,999 6,461 1,448 3,060
	53,928		21,728			75,656	46,244

8 Property expenses

Page 10 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

9 District Assessment and Levy

The District Assessment is charged to the Circuit by the Northampton District, in part for the District's expenses and in part for the Methodist Church Fund (MCF).

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

10 **11 **	Levy on CMTF account balance Office and administration costs Printing & copying Circuit website Pastoral visitor travelling Ministers' sundry expenses Stewards' and treasurer's reimbursements The Vine subscription Hire of church for meetings Literature and publications Circuit holiday Surveys & legal fees relating to manse up for sale Bank charges Sundry TMCP administration fees Other outgoings Local preachers' expenses Legal fees re land registry - 2 Circuit churches Leaving present for minister_(2023 £736 from churc_ members - see Other income - note 5) Special contribution to The Methodist Ministers' Pension Fund appeal Aylesbury Methodist Church - contribution towards office administrator District expenses and Methodist Church Fund	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
		General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
		£	£	£	£	£	£	£
		48,784 8,525 48,784 8,525					48,784 8,525	38,236 8,689
		48,784 8,525					57,309	46,925
		3,840 619 249 ( 46) 515 - - 595 1,060 65 - 628 6,832 628 65 2,250 - h - - 2,250
						10	3,840 - 619 249 ( 46) 515 - - - 595 1,060 65 - 638	3,840 18 619 - 244 427 - - 291 545 66 - 648
						10	7,536	6,698
		2,250 - h - -					2,250 - - -	1,200 4,394 800 -
		2,250					2,250	6,394

12 Investment management

During the year the circuit paid TMCP, the custodians of the Circuit's investments (Circuit Model Trust Fund and Endowment Funds) management charges based on a percentage of the value of the individual funds at the beginning of the year. The amount of charges concerned are referred to in note 10.

Realised and unrealised gains (losses) in the invested funds are listed below. More information can be found in Note 16 .

Circuit Model Trust Fund (CMTF) Stranks Bequest Permanent Endowment	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£	£	£	£	£	£	£
		1,453			54	1,453 54	( 833) (86)
		1,453			54	1,507	(919)

Page 11 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

13 Property disposals, revaluations and recategorisation

a)The net gains or losses on disposal or revaluation of properties are detailed below. Stoke Mandeville Church was closed for worship in 2020, and the Circuit assumed responsibility for it. In accordance with Note 1(xii), it was entered in the Balance Sheet at its estimated realisable value, after deduction of the approximate CPF Levy chargeable on the proceeds. The manses have been revalued to reflect their current estimated market values, after allowance for costs of sale and deduction of the potential CPF Levy by the Methodist Connection, where it is likely to be taken from the proceeds in the event of disposal.

b)The Stoke Mandeville Church property has been recategorised in the year as an Investment Property as more than two years have elapsed since it was closed for worship, and has since been used for hiring out to local organisations on a regular basis. (See also Note1xii(b))

Carrying value b/f Recategorised as Investment Property Sale Revalued and c/f Gain/(loss) £ £ £ £ Non-investment Properties Manses 47 King Edward Ave 643,000 638,000 ( 5,000) 6 Herston Close 458,500 455,320 ( 3,180) 103 High Street 638,000 627,600 ( 10,400) 14 Henrietta Road 569,300 569,300 - Churches closed for worship: (see also Note 13 above Stoke Mandeville - see paragraph (b) above 243,372 ( 243,372) - - Investment Properties 243,372 250,080 6,708 2,552,172 243,372 - 2,540,300 (11,872) Stoke Mandeville now described as Investment Property- see paragraph (b) above	Carrying value b/f	Recategorised as Investment Property	Sale	Revalued and c/f	Gain/(loss)
	£	£	£	£
Stoke Mandeville - see paragraph (b) above Investment Properties Stoke Mandeville now described as Investment Property- see paragraph (b) above
	2,552,172	243,372	-	2,540,300	(11,872)

14 Reclassification of funds, and assumption of church property on closure for worship

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 (CMTF). This requires an adjustment and any such sales during the year are reflected below at the gross sale price, after deduction of agents' and legal costs. See also the reference to Stoke Mandeville Church in Note 13 above.

There were no closures of churches for worship in 2022/23 or 2023/24. The last closure occurred in 2019/20, when the value of Stoke Mandeville Church was introduced into the Circuit records.	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£	£	£	£	£	£	£
	- -					-	-
	-					-	-

Page 12 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

15 Fixed Assets

- Buildings held during the year consist of:

• i. 4 manses (4 - 2023), 3 (3 - 2023) of which have been occupied by circuit ministers, and none (1 - 2023) let temporarily, while a fourth has not been occupied since its minister left in 2022/23.

• ii. In 2019/20 one church closed for worship, but has been retained pending a decision for its use by the circuit or one of the circuit churches, and/or letting. Since 2020/21 the premises have been hired out to several locally run organisations.

Cost / valuation

Balance brought forward Additions in year Revaluations Less Disposals in year Transfers between categories Balance carried forward Accumulated depreciation Balance brought forward Depreciation charge for the year Depreciation accumulated on disposals Balance carried forward Net book value Brought forward Carried forward Properties represented above: Manses: 47 King Edward Ave 6 Herston Close 103 High Street 14 Henrietta Road Churches closed for worship: Stoke Mandeville	Investment properties	Non-investmentproperties	Non-investmentproperties	Total
	Churches £	Manses Churches £ £ £
	- - 6,708 - 243,372	2,308,800 - ( 18,580) - -	243,372 - (243,372)	2,552,172 - ( 11,872) - -
	250,080	2,290,220	-	2,540,300
	- - -	- - -		- - -
	-	-	-	-
	- 250,080	2,308,800 2,290,220	227,910 -	2,552,172 2,540,300
		Book values carried forward
	Investment properties	Non-investmentproperties
	Churches	Manses	Churches	Total
	£	£ £ £
	250,080	638,000 455,320 627,600 569,300		638,000 455,320 627,600 569,300 250,080
	250,080	2,290,220	-	2,540,300

16 Investment Assets (and Trustees for Methodist Church Purposes (TMCP))

The funds that support the Circuit Model Trust Fund (CMTF) and the Circuit's other funds (as listed below) are held by TMCP in Trustees Interest and/or Managed Equity Funds on which interest and dividends are credited to the accounts each month or quarter. They 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 management 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.

CFB Managed Mixed Fund CFB Managed Fixed Int.Fund Fixed Asset - Value 31/8/2024 of above Trustees Interest Funds Current Asset - Value 31/8/2024 Note-Values per unit 31/8/24: CFB Managed Mixed Fund £5.417 CFB Manag. Fixed Int.Fund £1.762		Endowments	Endowments	Endowments	Endowments
	CMTF Trust 8292	Stranks Bequest 799B	A.Rose Trust 4420	J.Walker Bequest 1280	Total Endowm'ts	Grand Total	2023
		Number of units
	3,735	659			659	3,735 659	3,735 659
	£	£	£	£	£	£	£
	20,233	1,161	300	98	1,161	21,394	19,887
	183,100	2,092			2,490	185,590	204,207
	183,100	2,092.00	300	98	2,490	185,590	204,207
	(2023) £5.028 £1.680

Page 13 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

17 Debtors and prepayments

Unless indicated as otherwise, amounts shown as debtors at the beginning of the year are expected to be received in the course of the following year. All sums paid in advance at 31st August 2023 were for activities that have been held during 2023/24. Similarly, it is expected that payments in advance at 1st September 2024 will be expensed in 2024/25

advance at 1st September 2024 will be expensed in	2024/25	2024/25	2024/25
Prepayments: Stipends, pensions and NICs prepaid Other expenses Debtors: Assessments on churches Methodist insurance claim Stoke Mandeville rentals	Unrestricted Funds			Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£		£	£	£	£	£
	10,397 - - - - 10,397		10,725 10,725			10,397 - - - - 10,725	10,214 - - 387 - 11,796
	10,397		10,725			21,122	22,397

18 Loans to Circuit churches

Loans to churches within the Circuit may be granted by the trustees for a variety of purposes, but are normally project based and interest free. There were no loans outstanding at 31st August 2023 or 31st August 2024.

19 Central Finance Board (CFB) and bank balances

Monetary balances held at the Central Finance Board of the Methodist Church, at NatWest Bank and Metro Bank are all available on demand without loss of interest.

Central Finance Board Subtotal NatWest Bank Metro Bank HSBC (used for Stoke Mandeville premises) Other Subtotal Total	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£		£	£	£	£	£
	134,999 134,999 7,003 70,252 - 77,255 212,254		3,989 3,989 970 47,828 - 47,828 970 51,817 970			138,988	146,108
	134,999		3,989			138,988	146,108
	7,003 70,252 -		47,828	970 -		7,973 70,252 47,828 -	13,186 - 69,810 -
	77,255		47,828	970		126,053	82,996
	212,254		51,817	970		265,041	229,104

Page 14 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

20 Creditors, accruals and Income received in advance

It is expected that all sums accrued at 31st August 2024 will be paid during the year to 31st August 2025

Income received in advance: Assessments in advance Proportion of rent received in advance Subtotal Creditors and accruals Ministers' travel Ministers' sundry exps. Local preachers' expenses Telephone Vacant manses utilities Manse repairs Circuit churches for Lighthouse grants Sundries Stoke Mandeville: Upkeep Utilities Subtotal Total	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total 2023/24	Total 2022/23
	£		£	£	£	£	£
	36,825 - 36,825 - - - - - - - - - 36,825		306 306 2,429 313 2,743 3,049			36,825 31,553 306 -
						37,131	31,553
						- - - - - - - - - 2,429 313	- - - - 13 - 1,000 - - - 184
	-		2,743			2,743	1,197
	36,825		3,049			39,874	32,750

21 Unrestricted funds

General Fund - Non-designated

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 93% (2023 93%) of the value of this fund is held as freehold property, being manses for ministers, and from time to time churches closed for worship in the Circuit. Details of grants and donations made from the General Fund during the year can be found in Note 6.

The fund balance at 31st August 2024 was £2,726,126 (2023 £2,769,953 )

Stoke Mandeville Methodist Church Income Fund - Designated

The purpose of the fund is for use at the discretion of the trustees in maintaining and improving the premises in suitable condition for hiring to community and charitable organisations, and transferring from time to time amounts surplus to its needs in the furtherance of the general objectives of the Circuit. The funds prior to this financial year formed part of the non - designated General Fund. The fund balance at 31st August 2024 was £59,493 (2023 £0 )

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

22 Circuit Model Trusts Fund

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

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

The fund balance at 31st August 2024 was £203,333 (2023 £220,496 )

Page 15 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

23 Restricted and Endowment Funds

The Restricted and the Endowment Funds exist to support the causes listed below. All the Funds' assets, except the Education and Youth Fund which is managed locally, are managed by TMCP, and the net income after charges is paid direct to the administrators of the fund.

The Education and Youth Fund is currently funded from time to time by transfers from the General Fund. No transfers were made in 2023/24, and again in 2022/23 they amounted to £nil.The funds can be used for any educational or young people's purpose within the Circuit.

The income from the Endowment Funds can be used for General Circuit purposes, but the capital of the Stranks Bequest and the Jane Walker Bequest are Permanent Endowments.

The funds' balances at 31st August 2024 were as follows:

Restricted Fund Education and Youth Fund Endowment Funds Stranks Bequest Jane Walker Bequest Alfred Rose Trust Subtotal Total of Restricted & Endowment	2023/24 2022/23 £ £ 970 970 3,253 3,199 98 98 300 300	2023/24 2022/23 £ £ 970 970 3,253 3,199 98 98 300 300
	3,651	3,597
	4,621	4,567

24 Summary of fund movements

Fund	Balance at 1/9/23	Income	Expenditure	Transfers & Reclassifi- cation, etc.	Gains/ (losses)	Balance at 31//8/24
General - undesignated Circuit Model Trust Stoke Mand. Meth. Church Income - designated Total unrestricted Education & Youth Total restricted Stranks Bequest Jane Walker Bequest Alfred Rose Trust Total Endowment Total restricted & Endowment Total of all funds	£	£	£	£	£	£
	2,769,953 220,496 -	219,360 10,537 52,074	( 242,272) ( 9,153) (21,793)	( 9,043) ( 20,000) 29,212	( 11,872) 1,453	2,726,126 203,333 59,493
	2,990,449	281,971	(273,218)	169	(10,419)	2,988,952
	970	-	-	-		970
	970	-	-	-	-	970
	3,199 98 300	158 5 16	( 9) - (1)	( 149) ( 5) (15)	54	3,253 98 300
	3,597	179	(10)	(169)	54	3,651
	4,567	179	(10)	(169)	54	4,621
	2,995,016	282,150	(273,228)	-	(10,365)	2,993,573

25 Analysis of net assets between funds

Tangible fixed assets Tangible fixed assets investments Other fixed assets investments Current liabilities Creditors due after one year Current assets incl.current asset investments	Unrestricted Funds	Unrestricted Funds	Unrestricted Funds	Restricted/Endowment	Restricted/Endowment
	General Fund	Circuit Model Trusts	Stoke Mandeville Income Fund Designated	Restricted Funds	Endowment Funds	Total	2023
	£	£	£	£	£	£	£
	2,290,220 250,080 - 222,651 ( 36,825) -	- - 20,233 183,100 - -	62,542 ( 3,049)	- - - 970 - -	- - 1,161 2,490 - -	2,290,220 250,080 21,394 471,753 ( 39,874) -	2,552,172 - 19,887 455,707 ( 32,750) -
	2,726,126	203,333	59,493	970	3,651	2,993,573	2,995,016

Page 16 of 17

Vale of Aylesbury Methodist Circuit

Circuit no: 23/29

Notes to the accounts for the year ended 31st August 2024

26 Related parties

None of the Circuit trustees made direct donations to the Circuit during the year or preceding year. The Circuit trustees are members of a church within the Circuit and may also be church trustees.

Related parties include the Methodist Connexion, the Northampton District, churches within the Circuit, other Methodist Districts in Great Britain, CFB and TMCP. Reference to transactions with some of these parties can be found in Notes 3,4,6,9,10,12,16 and 18. All of these entities have their own trustees or directors.

27 Capital commitments and contingent liabilities

There were no capital commitments or contingencies at the year end (2023..Nil).

28 Lease commitments

The Circuit has no lease commitments apart from the rental element of manses' telephones. The amount involved is not considered material.

29 Independent examiner

No fees or remuneration has been accrued for in these accounts.

30a Stoke Mandeville premises taken over by the Circuit - income and expenditure

Transactions during the year ended 31st August 2023, relating specifically to the premises at Stoke Mandeville, are summarised as follows, under the headings in which they were included in the SOFA pages under General Fund, compared with transactions in the year ended 31st August 2024, where they appear under unrestricted designated funds:

2023/24 As Designated Income 2 Income from monetary investments (interest) 199 7 Other charitable income: Rentals 51,876 52,075 Expenditure 11 Property: Upkeep and Quinquenial inspection 10,987 Insurance 1,626 Utilities 9,115 Appraisal of possible improvement & repair - 10 Sundry: Bank charges 65 21,794 Net income 30,281 Less transferred to General funds (56,000) Reduction in Stoke Mandeville Designated Fund (25,719) Stoke Mandeville Methodist Church Income Funds- balances carried forward 31/8/24 Current assets: Debtors 10,725 Central Finance Board Deposits 3,989 Cash at Bank and in hand 47,828 Total current assets 62,542 Current liabilities: Creditors/income rec'd in advance 3,049 Total current liabilities 3,049 Net current assets 59,493	2023/24 As Designated Income 2 Income from monetary investments (interest) 199 7 Other charitable income: Rentals 51,876 52,075 Expenditure 11 Property: Upkeep and Quinquenial inspection 10,987 Insurance 1,626 Utilities 9,115 Appraisal of possible improvement & repair - 10 Sundry: Bank charges 65 21,794 Net income 30,281 Less transferred to General funds (56,000) Reduction in Stoke Mandeville Designated Fund (25,719) Stoke Mandeville Methodist Church Income Funds- balances carried forward 31/8/24 Current assets: Debtors 10,725 Central Finance Board Deposits 3,989 Cash at Bank and in hand 47,828 Total current assets 62,542 Current liabilities: Creditors/income rec'd in advance 3,049 Total current liabilities 3,049 Net current assets 59,493	2022/23 As Non- designated
		127 44,519
		44,646
		7,009 262 7,999 1,448 66
		16,784
		27,862
		N/a N/a 31/8/23
Current assets: Debtors Central Finance Board Deposits Cash at Bank and in hand Total current assets Current liabilities: Creditors/income rec'd in advance Total current liabilities Net current assets
	10,725 3,989 47,828	11,796 3,790 69,810
	62,542	85,396
	3,049	184
	3,049	184
	59,493	85,212

30b Stoke Mandeville Methodist Church Income Funds - balances carried forward

Page 17 of 17