23/29 Northampton District
VALE OF AYLESBURY CIRCUIT
TRUSTEES' ANNUAL REPORT
and
FINANCIAL STATEMENTS
for the year ended
31 AUGUST 2025
Charity registration number: 1134235
Charity No. 1134235
Vale of Aylesbury Circuit
Trustees’ Annual Report for year ended 31 August 2025
Contents
OBJECTIVES AND ACTIVITIES .................................................................................................... 3
MISSION STATEMENT ...................................................................................................................... 3 CHARITY REGISTRATION ................................................................................................................... 5 SAFEGUARDING ............................................................................................................................ 5 STAFF CHANGES ............................................................................................................................ 5 ACHIEVEMENTS AND PERFORMANCE ....................................................................................... 5
FINANCIAL REVIEW ................................................................................................................. 5
RISK MANAGEMENT ....................................................................................................................... 5 INCOME TRENDS ........................................................................................................................... 6 EXPENDITURE TRENDS ..................................................................................................................... 6 FUND BALANCES ........................................................................................................................... 6 RESERVES POLICY .......................................................................................................................... 6 STRUCTURE, GOVERNANCE AND MANAGEMENT ....................................................................... 7
STRUCTURE ................................................................................................................................. 7 GOVERNANCE .............................................................................................................................. 7 MANAGEMENT ............................................................................................................................. 7 TRUSTEES ................................................................................................................................... 8
ADMINISTRATIVE INFORMATION ............................................................................................. 10
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Vale of Aylesbury Circuit
Charity No. 1134235
Trustees’ Annual Report for year ended 31 August 2025
Objectives and Activities
The objects are set out in The Methodist Church Act 1976 (Clause 4), a synopsis of which is “advancement of religion and any charitable purpose of the Methodist Church or Church organisation (see Methodist Church Act 1976).”
Methodist Standing Order 500 (1) defines the Nature and Purposes of a Circuit as follows:
The Circuit is the primary unit in which Local Churches express and experience their interconnexion in the Body of Christ, for purposes of mission, mutual encouragement and help. It is in the Circuit that presbyters, deacons and probationers are stationed, and local preachers are trained and admitted and exercise their calling. The purposes of the Circuit include the effective deployment of the resources of ministry, which include people, property and finance, as they relate to the Methodist churches in the Circuit, to churches of other denominations and to participation in the life of the communities served by the Circuit, including local schools and colleges, and in ecumenical work in the area including, where appropriate, the support of ecumenical Housing Associations.
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.
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1 Circuit Leadership
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1.1 Relationships: To build links with other churches and faiths identifying potential for joint working.
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1.2 Local support: To support local congregations to identify priorities for mission, develop strategies to pursue these and provide leadership continuity.
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1.3 Resources: To regularly review our Circuit deployment of people, finance and property.
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1.4 Internal Communications: To constantly consider the communication needs of our churches in relation to Circuit policies and actions.
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2 Worship
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2.1 Circuit: To worship together as a Circuit and to foster a sense of Circuit identity.
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2.2 Prayer: To encourage participation in and the development of Circuit Prayer services and events.
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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.
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2.4 Ecumenism: To encourage local churches to explore shared worship with other churches in their community.
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3 Learning and Caring
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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.
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3.2 Personal faith: To encourage people to increase and develop their personal faith through Bible Study, Fellowship and small groups.
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3.3 Pastoral: To ensure appropriate pastoral care for all congregations.
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4 Service
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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.
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Vale of Aylesbury Circuit
Charity No. 1134235
Trustees’ Annual Report for year ended 31 August 2025
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4.2 Welcome: To provide a welcoming environment for family occasions, Christian Festivals and other community events.
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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.
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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.
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5 Evangelism
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5.1 External Communications: To explore appropriate means of presenting the life changing Good News of Jesus Christ in the local community.
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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.
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5.3 Training: To provide training in personal evangelism to enable all our people to share their faith effectively.
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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.
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5.5 Chaplaincy: To support chaplaincy work in its various forms
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Vale of Aylesbury Circuit
Charity No. 1134235
Trustees’ Annual Report for year ended 31 August 2025
Charity Registration
The Vale of Aylesbury Circuit was registered as a charity (registration number 1134235) in February 2010.
We confirm the trustees have had regard to the Charity Commission's guidance on public benefit.
Safeguarding
The Circuit follows the Connexional policy on safeguarding as detailed in Creating Safer Space. Each church has a safeguarding representative and there are two safeguarding officers in the circuit to ensure the adoption of safe practice amongst children and vulnerable adults.
Staff changes
Emma Foulger-Clarke joined the Circuit in January 2025 as Children’s work enabler.
Achievements and erformance p
During the year, the charity strengthened its mission and support across the circuit through a range of initiatives.
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A Children’s Work Enabler was appointed to enhance and coordinate ministry with children and families.
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The circuit continued to develop its worship life through a series of well attended Big Sing services, which brought congregations together in shared celebration.
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Churches were supported and encouraged to explore a new system of governance designed to reduce the administrative burden on local officers, including roles such as Treasurers.
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Ongoing pastoral and practical support were maintained for all congregations across the circuit.
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In addition, work began on developing a new Eco Policy and a refreshed Mission Policy to guide the circuit’s future direction.
Financial Review
Risk Management
The Circuit:
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takes professional advice as and when required.
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follows procedures and guidelines issued by the Methodist Church to mitigate risks.
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adopts and implements the Methodist Church's robust safeguarding policies and procedures in the Circuit and the local churches.
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 Circuit prepares accruals accounts, but do not consolidate accounts of Circuit churches.
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Vale of Aylesbury Circuit
Charity No. 1134235
Trustees’ Annual Report for year ended 31 August 2025
The Circuit budget is prepared by first anticipating the expenditure for the forthcoming year and then determining how that sum will be raised.
Income trends
Income rose by 17% (£48,610) year on year with assessment paid by circuit churches continuing to make up the bulk of regular income (73%). Assessments collected rose by 13%, interest income fell by 5% and Stoke Mandeville lettings, which continues to be managed by Aylesbury Methodist Church Council fell by 8%.
Total income was 15% above budgeted due to the return of the pension reserve fund contribution and district grant.
Expenditure trends
Expenditure was in line with the previous year with the main categories of regular expenditure being salaries and associated costs, property and District Assessment & Levy, comprising 52%, 19% and 20% of total expenditure respectively.
Total expenditure was 4% lower than budgeted due to lower manse repairs and maintenance, and office and administration costs.
District Assessment & Levy costs of £55,918 were 15% higher than the previous year (£48,783).
Donations given were to Aylesbury Town Chaplaincy and Circuit education and youth projects.
Net income for the year was £217,790 which includes £161,653 gain on the revaluation of the property.
Fund Balances
Total funds carried forward stand at £3,211,364. About 75% 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.
Reserves Policy
The Reserves Policy for the Circuit is to hold a minimum sum equivalent to six months' average expenditure. The Circuit will also retain funds for planned repairs, ministers' relocation costs, 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.
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Vale of Aylesbury Circuit
Charity No. 1134235
Trustees’ Annual Report for year ended 31 August 2025
Structure, Governance and Management
Structure
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 Cheddington Stewkley Swanbourne Wingrave Haddenham North Marston Princes Risborough Stone Waddesdon Hardwick & Weedon Whitchurch Fairford Leys Chinnor Cuddington Thame (Christchurch)
Governance
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 (CPD) by order of the annual Methodist Conference.
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.
Management
The circuit employs three full time Presbyters, one of whom acts as Superintendent Minister and chairs both the Circuit Leadership Team (CLT) and the Circuit Meeting, which trustees are expected to attend. Policy decisions are taken at the Circuit Meeting. 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 Methodist Connexional year runs from 1 September to the following 31 August.
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Charity No. 1134235
Vale of Aylesbury Circuit
Trustees’ Annual Report for year ended 31 August 2025
Trustees
The following people served as trustees of the Circuit during the year 2024-25.
| Trustee name | Ofce (if any) | Dates acted if not for whole period |
Name of person (or body) enttled to appoint trustee (if any) |
|---|---|---|---|
| RevRichard Atkinson | |||
| Rev AnthonyHowells | |||
| Rev Noreen Daly-Lee | |||
| Rev Hee-Gon Moon | |||
| Paul Alderman | Local Preachers Secretary | ||
| Louise Atkinson | SafeguardingOfcer | ||
| Janet Banham | Cheddington | ||
| Lynn Bernstone | Circuit Steward | ||
| JennyBullimore | Haddenham | ||
| John Coton | Wingrave | ||
| Sheila Coton | Wingrave | ||
| CathyCraf | Cheddington | ||
| Pearl Doughlin | Circuit Steward | ||
| Robert Earl | Whitchurch | ||
| Frankie Fisher | Swanbourne | ||
| Jamie Gannon | Circuit Steward | ||
| Sarah Gibbs | Weedon | ||
| Kevin Hardern | Aylesbury | ||
| Ken Harris | Swanbourne | ||
| Lynda Hart | Stewkley | ||
| David Hefer | North Marston | ||
| Douglas Hill | Thame(Christchurch) | ||
| Jane Honeyball | Chinnor | ||
| Pete Honeyball | Chinnor | ||
| Eileen Humphreys | Stewkley | ||
| Paul Ingram | Aylesbury | ||
| Viv Kemp | Aylesbury | ||
| Roger Kirk | Aylesbury | ||
| Richard Maguire | Stone | ||
| Jennifer Mariner-Kyle | Princes Risborough | ||
| Gill Marks | Aylesbury | ||
| JoyMurphy | Aylesbury | ||
| David Neville | Aylesbury | ||
| Albert Odro | Aylesbury | ||
| Alison Orr | Thame(Christchurch) | ||
| Mike Pullen | Princes Risborough | ||
| Des Quinn | North Marston | ||
| Alf Rogers | Princes Risborough |
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Vale of Aylesbury Circuit
Charity No. 1134235
Trustees’ Annual Report for year ended 31 August 2025
| Trustee name | Ofce (if any) | Dates acted if not for whole period |
Name of person (or body) enttled to appoint trustee (if any) |
|---|---|---|---|
| Arthur Sara | Aylesbury | ||
| Andrew Shaw | Weedon | ||
| MaryShurlock | Wingrave | ||
| Sue Spinks | Stone | ||
| Margaret Stevens | Princes Risborough | ||
| Heather Stuchbury | Waddesdon | ||
| Rod Thorpe | Fairtrade Rep | ||
| Kathryn Trout | Circuit Steward | ||
| Violet Walker | Waddesdon | ||
| Keith Wallace | Circuit Steward | ||
| Barbara Warne | Waddesdon | ||
| Ruth Watkins | Methodist Women In Britain |
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| Roger Watson | Whitchurch | ||
| Colin Wats | Cuddington | ||
| Margaret Wats | Cuddington | ||
| Chris Webb | Swanbourne | ||
| Margaret Wells | Stewkley | ||
| CathyWhiteway | Circuit Steward | ||
| Dawn Wright | SafeguardingOfcer |
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Vale of Aylesbury Circuit
Charity No. 1134235
Trustees’ Annual Report for year ended 31 August 2025
Administrative Information
Circuit Ministers
Circuit Meeting secretary
Rev Richard Atkinson Superintendent Kathryn Trout Rev Noreen Daley-Lee Minister Rev Hee-gon Moon Minister Rev Anthony Howells Anglican – Authorised Minister
Circuit Stewards
Custodian Trustees
(for Property and Investments)
Keith Wallace Senior Steward Lynn Bernstone Pearl Doughlin Jamie Gannon Catherine Whiteway
Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ
Address
Aylesbury Methodist Church Buckingham Street AYLESBURY Buckinghamshire HP20 2NQ
Circuit website
www.aylesburyvale.org.uk
Independent Examiner
Calculo Tax Audit Ltd., The Threshing Barn, Manor Farm Barns, Coates Lane, High Wycombe, HP13 5UX
Investment Adviser
Central Finance Board of the Methodist Church, 9 Bonhill Street, London, EC2A 4PE
Bankers
National Westminster Bank Plc., 22 Market Square, Aylesbury, HP20 1SJ
MetroBank, 45 Market Square, Aylesbury, HP20 2SP
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THE VALE OF AYLESBURY METHODIST CIRCUIT
Charity Registration No.1134235 Circuit no: 23/29 District: Northampton
FINANCIAL STATEMENTS
For the Year ending 31 August 2025
Page 1/17
Statement of Financial Activities (SOFA) for the year ended 31 August 2025
| 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 |
General Fund Circuit Model Trust Stoke Mandeville Church Net Cash Income Fund (Designated) Restricted Funds Endowment Funds £ £ £ £ £ £ £ - - 7,114 8,834 181 154 16,283 17,052 47,771 47,771 51,876 240,428 240,428 213,222 - - 10,000 10,000 - 16,278 16,278 - 273,820 8,834 47,952 - 154 330,760 282,150 2,100 1,343 3,443 2,000 143,099 143,099 128,478 25,560 25,624 51,183 75,656 7,667 7,667 8,525 55,918 55,918 48,783 - - 7,715 661 62 12 8,449 7,536 4,876 4,876 2,250 239,267 8,327 25,685 1,343 12 274,634 273,228 37 ( 26) 11 1,507 39,053 39,053 6,708 122,600 122,600 ( 18,580) 196,206 544 22,267 (1,343) 116 217,790 ( 1,443) 54,093 ( 55,000) 1,050 ( 143) 0 - - - - - 250,299 544 32,733 - (293) (26) 217,790 ( 1,443) 2,726,126 203,333 59,493 970 3,651 2,993,574 2,995,016 2,976,425 203,877 26,760 678 3,625 3,211,364 2,993,574 Total 2024/25 Total 2023/24 |
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Page 2/17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Balance Sheet as at 31 August 2025
| 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 2025/26 20 Total current liabilities Net current assets/liabilities Total assets less current liabilities Long term liabilities (due after more than one year) Grants payable after 2025-26 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 |
General Fund Circuit Model Trust Funds Stoke Mandeville Church Net Cash Income Fund (Designated) £ £ £ 2,412,820 289,133 20,270 2,701,953 20,270 - 12,953 9,225 183,607 196,305 4,170 106,283 14,071 315,541 183,607 27,466 39,069 706 2,000 41,069 - 706 274,472 183,607 26,760 2,976,425 203,877 26,760 - - 2,976,425 203,877 26,760 Unrestricted Funds |
General Fund Circuit Model Trust Funds Stoke Mandeville Church Net Cash Income Fund (Designated) £ £ £ 2,412,820 289,133 20,270 2,701,953 20,270 - 12,953 9,225 183,607 196,305 4,170 106,283 14,071 315,541 183,607 27,466 39,069 706 2,000 41,069 - 706 274,472 183,607 26,760 2,976,425 203,877 26,760 - - 2,976,425 203,877 26,760 Unrestricted Funds |
General Fund Circuit Model Trust Funds Stoke Mandeville Church Net Cash Income Fund (Designated) £ £ £ 2,412,820 289,133 20,270 2,701,953 20,270 - 12,953 9,225 183,607 196,305 4,170 106,283 14,071 315,541 183,607 27,466 39,069 706 2,000 41,069 - 706 274,472 183,607 26,760 2,976,425 203,877 26,760 - - 2,976,425 203,877 26,760 Unrestricted Funds |
Restricted Funds Endowment Funds £ £ 1,135 - 1,135 2,490 789 789 2,490 112 112 - 678 2,490 678 3,625 678 3,625 Restricted and Endowment |
Restricted Funds Endowment Funds £ £ 1,135 - 1,135 2,490 789 789 2,490 112 112 - 678 2,490 678 3,625 678 3,625 Restricted and Endowment |
Total 2024/25 £ 2,412,820 289,133 21,405 2,723,358 22,178 - 186,097 200,475 121,142.79 529,893 39,887 2,000 41,887 488,006 3,211,364 - - 3,211,364 |
Total 2023/24 £ 2,290,220 250,080 21,394 2,561,694 21,122 - 185,591 138,988 126,053 471,754 39,874 - 39,874 431,880 2,993,574 - - 2,993,574 |
|---|---|---|---|---|---|---|---|
| 2,976,425 | 26,760 | 678 | 3,625 | 2,976,425 203,877 26,760 3,207,061 678 3,625 |
2,726,126 203,333 59,493 2,988,952 970 3,651 |
||
| 203,877 | |||||||
| 2,976,425 | 203,877 | 26,760 | 678 | 3,625 | 3,211,364 | 2,993,574 |
Page 3/17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
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 31 August 2025, 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 31 August 2025
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.
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.
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 31 August 2025
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 (2024) on an accruals basis of accounting.
| UNRESTRICTED | UNRESTRICTED | RESTRICTED/ENDOWM'T | RESTRICTED/ENDOWM'T | RESTRICTED/ENDOWM'T | TOTALS | TOTALS | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| General Fund 2023/24 |
2023/24 Model Trust Fund |
2023/24 Stoke Mandeville Church Net Cash Income Fund (Designated) |
2023/24 | 2023/24 | |||||||
| Accruals | basis | Accruals basis | Accruals basis | Accruals basis | Accruals | basis | |||||
| £ | £ | £ | £ | £ | |||||||
| Statement of Financial Activities | (SOFA) for | 2024 (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 3 Income from investment properties 2 Income from monetary investments |
- - - - 213,222 - 6,137 |
- 10,537 - - - - - |
- 199 51,876 - - - - |
- - - - - 179 |
- - - 51,876 213,222 - 17,052 |
||||||
| 8Total charitable Income | 219,359 | 10,537 | 52,075 | 179 | 282,150 | ||||||
| Expenditure | |||||||||||
| 9 Grants and donations 11 Property 13 District Assessment & Levy 14 Depreciation 16 Other outgoings 15 Office & administration expenses 12 Connexional assessment & model trust levy 10 Salaries and associated costs, incl. travel, phone & removals |
6,832 2,250 48,783 - 53,928 - 2,000 128,478 |
- - - 8,525 - - 628 - |
- - 21,728 - - - 65 - |
10 - - - - - - - |
7,536 2,250 48,783 - 75,656 8,525 2,000 128,478 |
||||||
| 17Total charitable expenditure | 242,271 | 9,153 | 21,794 | 10 | 273,228 | ||||||
| 18 Gains/(losses) on monetary investme 19 Gains/(losses) on disposal/reval. of p Investment properties Non-investment properties |
( 18,580) 6,708 - |
1,453 - - |
- - - |
- - 54 |
( 18,580) - 6,708 1,507 |
||||||
| 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 20 Net income/(expenditure) |
2,769,953 2,726,126 - ( 43,826) 76,169 ( 85,212) ( 34,784) |
2,837 ( 20,000) - - ( 17,163) 220,495.92 203,333 |
30,281 ( 56,000) 85,212 - 59,493 - 59,493 |
4,567.59 4,622 - 54 ( 169) - 223 |
2,995,016.10 2,993,574 - ( 1,443) - - ( 1,443) |
Page 6 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
2 Comparatives and balances brought forward from the previous year- continued
| UNRESTRICTED | UNRESTRICTED | RESTRICTED/ENDOWM'T | RESTRICTED/ENDOWM'T | TOTALS | TOTALS | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| General Fund 2023/24 |
2023/24 Model Trust Fund |
2023/24 Stoke Mandeville Church Net Cash Income Fund (Designated) |
2023/24 | 2023/24 | |||||||||
| Accruals | basis | Accruals basis | Accruals basis | Accruals basis | Accruals | basis | |||||||
| £ | £ | £ | £ | £ | |||||||||
| Balance Sheet at 31 August 2024 | |||||||||||||
| Fixed Assets Circuit Manses & Other Property Investment properties Investments |
250,080 - 2,290,220 |
- - 20,233 |
- - - |
- 1,161 - |
250,080 21,394 2,290,220 |
||||||||
| Total fixed assets | 2,540,300 | 20,233 | - | 1,161 | 2,561,694 | ||||||||
| Current assets | |||||||||||||
| Debtors and prepayments Loans by the Circuit |
- 10,397 |
- - |
10,725 - |
- - |
- 21,122 |
||||||||
| Investments with Trustees for Methodist Church Purposes | 183,100 | - | 2,490 | 185,591 | |||||||||
| Central Finance Board Deposits Cash at bank and in hand |
77,255 134,999 |
- - |
3,989 47,828 |
970 - |
126,053 138,988 |
||||||||
| Total current assets | 222,651 | 183,100 | 62,542 | 3,460 | 471,754 | ||||||||
| Current liabilities (Due in one year) | |||||||||||||
| Creditors, income received in advance and accruals |
36,825 | - | 3,049 | - | 39,874 | ||||||||
| Grants instalments payable within one year Instalments on loans made to the Circuit |
- - |
- - |
- - |
- - |
- - |
||||||||
| Total current liabilities | 36,825 | - | 3,049 | - | 39,874 | ||||||||
| Net current assets/(liabilities) | 185,826 | 183,100 | 59,493 | 3,460 | 431,880 | ||||||||
| Total assets less current liabilities | 2,726,126 | 203,333 | 59,493 | 4,622 | 2,993,574 | ||||||||
| Long term liabilities (due after more than one year) | |||||||||||||
| Grants instalments payable within one year Payable on loans made to the Circuit |
- - |
- - |
- - |
- - |
- - |
||||||||
| Total long term liabilities | - | - | - | - | - | ||||||||
| Net assets / (liabilities) | 2,726,126 | 203,333 | 59,493 | 4,622 | 2,993,574 |
Page 7 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
3 Assessments on churches
The Circuit was comprised of 15 (15 in 2024) 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 pre-paid 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 2023/24 or 2024/25.
| 5 | Other income Grants and donations Aylesbury Town Chaplaincy* Waddesdon Parish Church Grants, etc made by Education & Youth fund: Grants Reinbursement of expenses on behalf of fund Refund of Ministers' Pension Reserve Fund voluntary contribution made in 2021/22 plus interest |
General Fund Circuit Model Trusts Stoke Mandeville Net Cash Income Fund Designated £ £ £ 16,278 - - - 16,278 2,000 100 2,100 Unrestricted Funds |
Restricted Funds Endowment Funds £ £ 1,343 - 1,343 Restricted/Endowment |
Total 2024/25 Total 2023/24 £ £ 16,278 - - - - - - 16,278 - 2,000 2,000 100 - - - 1,343 - - - 3,443 2,000 |
|---|---|---|---|---|
| 6 | ||||
- This is paid in accordance with a commitment by the Circuit meeting on 9/3/2022 to pay £2,000 per annum from 2022 to 2026.
Page 8 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
7 Stipends, salaries and associated costs
Stipends and salaries were paid to 3 (3 in 2024) Methodist ministers and 1 (0 in 2024) lay employees 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 URC Ministry and Mission Fund Lay employees: Salaries Employers Nat.Ins. Contributions Defined contribution pension fund payments Travelling Total stipends and associated ministerial costs |
General Fund Circuit Model Trusts Stoke Mandeville Net Cash Income Fund Designated Restricted Funds Endowment Funds £ £ £ £ £ 96,162 10,480 18,612 621 484 126,359 4,248 671 - 500 9,548 573 764 435 143,099 Unrestricted Funds Restricted/Endowment |
Total 2024/25 Total 2023/24 £ £ 96,162 90,024 10,480 8,767 18,612 23,435 621 582 484 453 126,359 123,261 4,248 3,915 671 702 - 600 500 - 9,548 - 573 - 764 - 435 - 143,099 128,478 |
|---|---|---|
7 Stipends, salaries and associated costs - continued
A Children's work enabler was employed from January 2025 for a period of three years. A personnel grant from the District Advance Fund will cover the about half of the total expenses, with the balance to be transferred from the Circuit Model Trust fund.
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 31 August 2025
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 2024) for the following purposes:
| Practising certificate Lunches for stationing candidates Postage & stationery Training Honorary Treasurers' Forum |
General Fund Circuit Model Trusts Stoke Mandeville Net Cash Income Fund Designated Restricted Funds Endowment Funds Total 2024/25 Total 2023/24 £ £ £ £ £ £ £ 397 397 337 - - - - 143 115 115 - 50 50 35 562 562 515 Unrestricted Funds Restricted/Endowment |
|---|---|
8 Property expenses
The Circuit is Managing Trustee for 4 manses (4..2024), 3 (3..2024) of which are occupied by ministers stationed in the Circuit. One of the manses became unoccupied when a minister left in 2022/23. It has remained unoccupied during 2024/25 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.
| Expenditure on the manses Manses Council tax Water supply Utilities for vacant manses Insurance Repairs, refurbishments and maintenance Expenditure on other Property Churches closed for worship: Stoke Hammond utilities Stoke Mandeville insurance Stoke Mandeville utilities Stoke Mandeville upkeep, etc Stoke Mandeville appraisal reports Quinquennial reports Property Totals |
General Fund Circuit Model Trusts Stoke Mandeville Net Cash Income Fund Designated Restricted Funds Endowment Funds £ £ £ £ £ 9,893 2,217 919 3,302 5,169 21,500 185 - 1,575 8,171 15,878 - 3,874 25,560 25,624 Unrestricted Funds Restricted/Endowment |
Total 2024/25 Total 2023/24 £ £ 9,893 9,954 2,217 1,346 919 287 3,302 3,982 5,169 37,810 21,500 53,378 185 - 1,575 1,626 8,171 9,478 15,878 10,624 - - 3,874 550 51,183 75,656 |
|---|---|---|
Page 10 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
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 | General Fund Circuit Model Trusts Stoke Mandeville Net Cash Income Fund Designated Restricted Funds Endowment Funds Total 2024/25 Total 2023/24 £ £ £ £ £ £ £ 55,918 55,918 48,783 Levy on CMTF account balance 7,667 7,667 8,525 55,918 7,667 63,585 57,308 Office and administration costs 3,840 3,840 3,840 Printing & copying - Circuit website 619 619 619 Pastoral visitor travelling 215 215 249 Ministers' sundry expenses 276 276 ( 46) Stewards' and treasurer's reimbursements 562 562 515 The Vine subscription - Hire of church for meetings - Literature and publications 65 65 - Circuit holiday 649 649 595 Surveys & legal fees relating to manse up for sale 1,060 Bank charges 62 62 65 Staff training 500 500 Accounting software 231 231 Legal expenses 758 758 Sundry - TMCP administration fees 661 12 672 638 7,715 661 62 - 12 8,449 7,536 Other outgoings Local preachers' expenses 2,014 2,014 2,250 Aborted purchase of replacement manse 67 Sorrel Way 1,062 1,062 - Provision for Independent Examiner's fee for year 1,800 1,800 Special contribution to The Methodist Ministers' Pension Fund appeal - - - 4,876 4,876 2,250 Investment management General Fund Circuit Model Trusts Stoke Mandeville Net Cash Income Fund Designated Restricted Funds Endowment Funds Total 2024/25 Total 2023/24 £ £ £ £ £ £ £ Circuit Model Trust Fund (CMTF) 37 37 1,453 Stranks Bequest Permanent Endowment (26) (26) 54 37 (26) 11 1,507 District expenses and Methodist Church Fund Aylesbury Methodist Church - contribution towards office administrator 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 inNote 16. Unrestricted Funds Restricted/Endowment Unrestricted Funds Restricted/Endowment |
|---|---|
| 11 | |
| 12 | |
Page 11 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
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 potential proceeds. The manses have been revalued to reflect their current estimated market values.
b)The Stoke Mandeville Church property was recategorised in the previous year as an Investment Property as more than two years had 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 6 Herston Close 103 High Street 14 Henrietta Road |
638,000 455,320 627,600 569,300 |
611,820 666,000 605,000 530,000 |
( 26,180) 210,680 ( 22,600) ( 39,300) |
|||||||||||||
| Total Manses Investment Properties Stoke Mandeville Church closed for worship classed as Investment Property- see above |
2,290,220 250,080 |
- | 2,412,820 289,133 |
122,600 39,053 |
||||||||||||
| 2,540,300 | - | - | 2,701,953 | 161,653 | ||||||||||||
| 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. |
||||||||||||||||
| Unrestricted Funds | Restricted/Endowment | |||||||||||||||
| General Fund | Circuit Model | Trusts | Stoke | Mandeville Net | Cash Income | Fund | Designated | Restricted Funds |
Endowment Funds |
Total 2024/25 |
Total 2023/24 |
|||||
| £ | £ | £ | £ | £ | £ | £ | ||||||||||
| There were no closures of churches for worship in 2023/24 or 2024/25. The last closure occurred in 2019/20, when the value of Stoke Mandeville Church was introduced into the Circuit records. |
- | - - |
- - |
|||||||||||||
| - | - | - | - |
14 Reclassification of funds, and assumption of church property on closure for worship
Page 12 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
15 Fixed Assets
- Buildings held during the year consist of:
i.
4 manses (4 - 2024), 3 (3 - 2024) of which have been occupied by circuit ministers, 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
----- Start of picture text -----
Investment
properties Non-investment properties Total
Churches Manses Churches
£ £ £ £
Balance brought forward 250,080 2,290,220 - 2,540,300
-
Additions in year
Revaluations 39,053 122,600 - 161,653
- -
Less Disposals in year
- -
Transfers between categories
Balance carried forward 289,133 2,412,820 - 2,701,953
Accumulated depreciation
- - -
Balance brought forward
- - -
Depreciation charge for the year
- - -
Depreciation accumulated on disposals
Balance carried forward - - - -
Net book value
Brought forward 250,080 2,290,220 - 2,540,300
Carried forward 289,133 2,412,820 - 2,701,953
Properties represented above: Book values carried forward
Investment
properties Non-investment properties
Churches Manses Churches Total
£ £ £ £
Manses:
47 King Edward Ave 611,820 611,820
6 Herston Close 666,000 666,000
103 High Street 605,000 605,000
14 Henrietta Road 530,000 530,000
Churches closed for worship:
Stoke Mandeville 289,133 289,133
289,133 2,412,820 - 2,701,953
----- End of picture text -----
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 31/8/25 of above Trustees Interest Funds Current Asset - Value 31/8/25 of above Note-Values per unit 31/8/25 of above: CFB Managed Mixed Fund £5.427 CFB Manag. Fixed Int.Fund £1.722 |
CMTF Trust 8292 3,735 £ 20,270 183,607 183,607 (2024) £5.417 £1.762 |
Stranks A.Rose J.Walker Bequest Trust Bequest 799B 4420 1280 659 £ £ £ 1,135 2,092 300 98 2,092 300 98 Number of units Endowments |
3,735 3,735 659 659 659 £ £ £ 1,135 21,405 21,394 2,490 186,097 185,591 2,490 186,097 185,591 Total Endowm'ts Grand Total 2024 |
|---|---|---|---|
Page 13 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
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 2024 were for activities that have been held during 2024/25. Similarly, it is expected that payments in advance at 1st September 2025 will be expensed in 2025/26.
| expensed in 2025/26. | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted Funds | Restricted/Endowment | |||||||||||||||||||||||
| General Fund | Circuit Model | Trusts | Stoke | Mandeville Net | Cash Income | Fund | Designated | Restricted | Funds | Endowment | Funds | Total 2024/25 |
Total 2023/24 |
|||||||||||
| £ | £ | £ | £ | £ | £ | |||||||||||||||||||
| Prepayments: | ||||||||||||||||||||||||
| Stipends, pensions and NICs prepaid | 10,953 | 10,953 | 10,397 | |||||||||||||||||||||
| Other expenses | - | - | - | |||||||||||||||||||||
| Deferred Revenue Expenses | 2,000 | 2,000 | ||||||||||||||||||||||
| Debtors: | - | - | ||||||||||||||||||||||
| Assessments on churches | - | - | - | |||||||||||||||||||||
| Methodist insurance claim | - | - | - | |||||||||||||||||||||
| Stoke Mandeville rentals | - | 9,225 | 9,225 | 10,725 | ||||||||||||||||||||
| 12,953 | 9,225 | 22,178 | 21,122 | |||||||||||||||||||||
| 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 2024 | or 31st August 2025. | |||||||||||||||||||||||
| 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. | ||||||||||||||||||||||
| Unrestricted Funds | Restricted/Endowment | |||||||||||||||||||||||
| General Fund | Circuit Model | Trusts | Stoke | Mandeville Net | Cash Income | Fund | Designated | Restricted | Funds | Endowment | Funds | Total 2024/25 |
Total 2023/24 |
|||||||||||
| £ | £ | £ | £ | £ | £ | |||||||||||||||||||
| Central Finance Board | 196,305 | 4,170 | 200,475 | 138,988 | ||||||||||||||||||||
| Subtotal | 196,305 | 4,170 | 200,475 | 138,988 | ||||||||||||||||||||
| NatWest Bank | 7,394 | - | 7,394 | 7,973 | ||||||||||||||||||||
| Metro Bank | 98,888 | - | 789 | 99,678 | 70,252 | |||||||||||||||||||
| HSBC (used for Stoke Mandeville premises) | - | 14,071 | 14,071 | 47,828 | ||||||||||||||||||||
| Other | - | - | - | |||||||||||||||||||||
| Subtotal | 106,283 | 14,071 | 789.40 | 121,143 | 126,053 | |||||||||||||||||||
| Total | 302,587 | 18,241 | 789 | 321,617 | 265,041 |
18 Loans to Circuit churches
19 Central Finance Board (CFB) and bank balances
Page 14 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
20 Creditors, accruals and Income received in advance
It is expected that all sums accrued at 31st August 2025 will be paid during the year to 31st August 2026.
| 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 Manse repairs Childrens and Youth Enabler travelling Grants & donations Pastoral Visitor travelling Staff training Accounting software Legal expenses Stoke Mandeville: Upkeep Utilities Provision: Independent Examiner's fee 2024/25 Subtotal Grants: Committed & payable within 2025/26 Total |
General Fund Circuit Model Trusts Stoke Mandeville Net Cash Income Fund Designated £ £ 34,195 - 306 34,195 306 807 116 359 143 25 16 100 137 500 113 758 3,074 134 266 1,800 4,874 400 2,000 41,069 706 Unrestricted Funds |
Restricted Funds Endowment Funds £ £ 112 112 112 112 Restricted/Endowment |
Total 2024/25 Total 2023/24 £ £ 34,195 36,825 306 306 34,501 37,131 807 - 116 - 359 - 143 - 25 - 128 - 100 - 137 - 500 - 113 - 758 - 3,186 - 134 2,429 266 313 1,800 - 5,386 2,743 2,000 41,887 39,874 |
|---|---|---|---|
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 91% (2024 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 2025 was £2,976,425
(2024 £2,726,126 )
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 2025 was £26,760 (2024 £59,493 )
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.
(2024
£203,333 )
The fund balance at 31st August 2025 was
£203,877
Page 15 of 17
Vale of Aylesbury Methodist Circuit
Circuit no: 23/29
Notes to the accounts for the year ended 31 August 2025
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 2024/25, and again in 2023/24 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 fund balance at 31st August 2025 was
----- Start of picture text -----
2024/25 2023/24
£ £
Restricted Fund
Education and Youth Fund 678 970
Endowment Funds
Stranks Bequest 3,227 3,253
Jane Walker Bequest 98 98
Alfred Rose Trust 300 300
Subtotal 3,625 3,651
Total of Restricted & Endowment 4,303 4,622
----- End of picture text -----
24 Summary of fund movements
----- Start of picture text -----
Transfers &
Balance at Gains/ Balance at
Fund Income Expenditure Reclassifi-
1/9/24 (losses) 31/8/25
cation, etc.
£ £ £ £ £ £
General - undesignated 2,726,126 273,820 ( 239,267) 54,093 161,653 2,976,425
Circuit Model Trust 203,333 8,834 ( 8,327) - 37 203,877
Stoke Mand. Meth. Church Income - designated 59,493 47,952 ( 25,685) ( 55,000) 26,760
Total unrestricted 2,988,952 330,606 ( 273,280) ( 907) 161,690 3,207,061
Education & Youth 970 - ( 1,343) 1,050 678
Total restricted 970 - ( 1,343) 1,050 - 678
Stranks Bequest 3,253 136 ( 11) ( 125) ( 26) 3,227
Jane Walker Bequest 98 5 - ( 5) - 98
Alfred Rose Trust 300 14 ( 1) ( 13) - 300
Total Endowment 3,651 154 ( 12) ( 143) ( 26) 3,625
Total restricted & Endowment 4,622 154 ( 1,354) 907 ( 26) 4,303
Total of all funds 2,993,574 330,760 ( 274,634) 0 161,664 3,211,364
Analysis of net assets between funds
Unrestricted Funds Restricted/Endowment
Total 2024
£ £ £ £ £ £ £
Tangible fixed assets 2,412,820 - - - 2,412,820 2,290,220
Tangible fixed assets investments 289,133 - - - 289,133 250,080
Other fixed assets investments - 20,270 - 1,135 21,405 21,394
Current assets incl.current asset
investments 315,541 183,607 27,466 789 2,490 529,893 471,754
Current liabilities ( 41,069) - ( 706) ( 112) - ( 41,887) ( 39,874)
- - - - - -
Creditors due after one year
2,976,425 203,877 26,760 678 3,625 3,211,364 2,993,574
Trusts Stoke Fund Funds Funds
General Fund Circuit Model Mandeville Net Cash Income Designated Restricted Endowment
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25 Analysis of net assets between funds
Page 16 of 17
Vale of Aylesbury Methodist Circuit
Circuit no:
23/29
Notes to the accounts for the year ended 31 August 2025
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 (2024..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 2025, relating specifically to the premises at Stoke Mandeville, are summarised as follows. They appear in the SOFA pages under unrestricted designated funds in a column headed "Stoke Mandeville Church Net Cash Income Fund (Designated)".
| Income 2 Income from monetary investments (interest) 7 Other charitable income: Rentals Total income Expenditure 11 Property: Upkeep and Quinquenial inspection Insurance Utilities Appraisal of possible improvement & repair 10 Sundry: Bank charges Total expenses Net income for the year Less transferred to General Funds Increase/(Reduction) in Stoke Mandeville Church Net Cash Income Fund Balance of Fund b/f Balance of Fund c/f |
2024/25 Designated 181 47,771 47,952 15,878 1,575 8,171 - 62 25,685 22,267 ( 55,000) ( 32,733) 59,493 26,760 |
2023/24 Designated 199 51,876 52,075 10,624 1,626 9,478 - 65 21,794 30,281 ( 56,000) ( 25,719) 85,212 59,493 |
|---|---|---|
Note: The funds b/f to 2023/24 £85,212 were recategorised as Designated in that year
30b Stoke Mandeville Methodist Church Net Cash Income Funds - balances carried forward
| 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 |
31/8/25 9,225 4,170 14,071 27,466 706 706 26,760 |
31/8/24 10,725 3,989 47,828 62,542 3,049 3,049 59,493 |
|---|---|---|
Page 17 of 17
VALE OF AYLESBURY METHODIST CIRCUIT
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF VALE OF AYLESBURY METHODIST CIRCUIT
I report to the trustees on my examination of the financial statements of Vale of Aylesbury Methodist Circuit (the charity) for the year ended 31 August 2025.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. 2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Jonathan Walton FCA for and on behalf of
Calculo Tax and Audit Chartered Accountants The Threshing Barn,Manor Farm Barns, Coates Lane High Wycombe Bucks HP13 5UX
Date: ............................ 01/06/2026
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