RICHMOND AND HOUNSLOW CIRCUIT OF THE METHODlSf CHURCH CHARITY NO.: 1134245 REPORT AND ACCOUNTS for the year ended 31 August 2025
Richmond and Hounslow Circuit of the Methodist Church Status: Registered Charity no. 1134245 The charty was established by a charitable trust deed on 10th February 2010. The charity's governing documents are the Deed of Union119321 and the Methodist Church Act119761. Principal address: 13 Enmore Road London SW15 6LL Circuit Superlntendent: Reverend G Farrar Trustees Mr Kojo Amoasl (appointed 24 February 20251 Mrs Jean Butcher Mrs jessica Dalton Rev Geoffrey Farrar. Mrs Jean Flann Mrs Lyneih Friday Deacon Richard Goldstraw. Mr lan Haddow (deceased July 20251 Mi55 Valerie Hearn Mr Alan Housdon Mr5 Vivien Isaac Rev Heflin Jani Deacon Kathy johnson. Mr Bismarck Laryea MrAndrew Logan Mr john Logan Mrs Margaret Logan Mr Stephen Ludlow Mr5Jane Mcmahon Mrs Frances Moorhouse Dr Margaret Moore. Rev Nicola Morrison Mrs Rajini Muthukumar Rev Adam Nyawo. Mr Charles Oppong-Akuoko Mrs Mary P8tterson' Mrs Susan Penney Ms Carol Powers Mr Charles Rajkumar Mrs Gill Sparke5 Mr Moses Tandayi. Miss Winifred Thompson Mr Brendan Wasmuth. MrGeoffrey Waterhouse (resigned 24 February 20251 Ms Sarah Weeks Ms Janet Wi150n' Circuit Leadership Team Auditor5: Azets Audit Services Gladstone House 77-79 High Street Egham Surrey TW20 9HY Bankers: Central Finance Board of the Methodi51 Church ICFBI 9 Bonhill Street London EC2A 4PE Charittes Aid Foundation Bank Limited 25 Kings Hill Avenue West Mallin8 Kent ME19 4JQ Investment advisers.. The Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester Ml IJQ
Richmond and Hounslow Clrcuit of the Methodist Church Page Trustees, report Auditors, report Statement of Financlal Activities 13 Balance Sheet 14 Cash flow statement 15 Notes to the accounts 16
Richmond and Hounslow Circuit of the Methodist Church Trustees. report for the year ended 31Au ust 2025 The trustees present their annual report and financial statements for the year ended 31 August 2025. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charitys governing document, the Charities Act 2011 and the Charities Statement of Recommended Practite applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. effective from l January 2019. Structure. governance and management The Richmond and Hoijnslow Circuit of the Methodist Church ('the Circuit'l is an association of churches grouped together in a geographical area. Ordained ministers are appointed to serve the Circuit. The Superintendent Minister oversees for the work of all the churches in the circuit. The Circuit was established as a registered charity by a charitable trust deed on 10th February. 2010. The Circuit's governing documents are the Deed of Union119321 and the Methodist Church Act 119761. The Standing Orders of the Methodist Church las set out the Constitutionol Practice ond Disciple of the Methodist Church) govern the way the Circuit is constituted including how trustees are appointed. The managing trustees at the date of this report are the members of the Circuit Meeting. These comprise all Circuit officers las designated by SO 510 of the Constitutional Proctice ond Disciple of the Methodist Church), ministers and representatives from each of the congregations. Circuit meetings are held at least three times per year. Decision making is not vested in a small number of people. The Circuit comprises seven congregations in south-west Lon(lon.' Barnes, Chiswick, Heston, Hounslow, Putney, Richrnond IMethodist/URC LEPI, and Roehampton. Objects and artivities The Circuit operates as part of the Methodist Church of Great Britain, whose mission is 'to respond to the gospel of God's love in Christ ond to live out its discipleship in worship und mission,. The Circuit's specific calling is to facilitate and 5UPPOrt the seven local Methodist Churches In its area as they respond to that call, through responsible Stewardship and effective oversight of its resources (human, financial and property). It seeks to enable those local congregations to increase the awareness of God's presence and celebrate God's love fworshipj help people to grow and learn through mutual support and care Ileorning and Coring), be a good neighbour to people in need and to challenge injustice (Service), and make more followers of Jesus Christ IEvanqelism).
Richmond and Hounslow Circuit of the Methodist Church Trustees, report for the year ended 31Au ust 2025 The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Circuit should undertake for public benefit. The Circuit relies on a large amount of time and effort provided by volunteers, who offer a variety of seNices which are unpaid, including its dedicated local preachers. The Circuit would like to place on record its thanks to these volunteers without whose support it could not operate. It is impossible to estimate the value of these donated services. Athievements and performance At its meeting in September 2024 the Circuit Meeting adopted Mission priorities for the coming year which are listed below together with what the Circuit has achieved in relation to those priorities. Wision Offer acce55ible worship that truly connects people with God and allows them to explore their faith and the scriptures Artions the Circuit has supported the work of its ministers and leaders of worship through the work of the Preachers Meeting, as well as generous funding of resources and training opportunities. This h35 included providing individual grants to all worship leaders for the purchase of relevant book5 and resources, as well as attendance at conferences and retreats. the Circuit org3nised a Quiet Day. 'A Day of Reflection,, at Southlands College Chapel (University of Roehamptonl in lune, 2025, led by the President of the Methodist Church in Ireland the Circuit also funded aid5 to worship for individual churches through its'srnall grants, scherne, including cultural activities and improved AV equipment. Worship Encourage personal spirituality and greater involvement in worship by all our worshippers, especially our lay leaders Learning and Continue to create a the Circuit continue5 to place the highest priority On Caring Circuit and churches SafeEuarding in order to ensure that all may safely worship and where all are safe and participale in the life of our churches. the vulnerable are protected Ensure that èll our congregations receive the pastoral oversight they need the Circuit Staff team has worked together to ensure that proper pa51oral care 15 provided in all our congregations throughout the year, covering a5 necessary for periods of absence, such as sabbaticals.
Richmond and 14ounslow Circuit of the Methodist Church Trustees, report for the year ended 31Au ust 2025 Wision Make our churches places where discipleship is artively encouraged and that opwrtunities for Bible study and growth are Provided Actions the Circuit has supported relevant initiatives in the churches encouraging greater engagement with the scripture5 in new and imaBlnative ways. the Circuit continues to engage fully with the Connexional Justice. Diversity and Inclusion IJDII strategy, encouraging all worship leaders and congregations to en8a@e with this materlal and explore themes related to equality, diversity, and inclusion in worship and their life together. Roll out the EDI strategy Service Provide opportunities and resources for our churches and properties to Serve our different communitie5 in as the Circuit has actively encouraged all it5 congregations to consider how they can best use their premises and resources to serve their Communities better. During this period, the Circuit has provided genefOUS grants to fatilitate ambitlOU5 building projects at Chiswick, Hovnslow and Putney. many ways as possible Enable our churches to serve the most vulnerable communities within our Circuit Encourage and equip our members and churche5 to be able to witness to the love of God in Jesus Christ according to their context and opportunities the Circuit continues to provide generous support for the employment of a lay worker based at Chiswick and diaconal appointments in Richmond and Roehampton. Evangelism the Circuit Continues to provide generous financial support to the Urban Mission in Roehampton, primarily through the employment of a full-time minister Ideaconl. The Mission seeks to make the love of God real in one of the most deprived areas of South-west London. The deacon employed in this role has continued to remain fully engaged in the life of the community, participating in numerous local groups and supporting initiatives such as the food bank, which operates out of the premises of Roehampton Methodist Church. The Circuit has begun exciting conversations about the future of the church in Roehampton with new partners.
Richmond and Hounslow Circuit of the Methodist Church Trustees, report for the year ended 31Au Ust 2025 Wision Make our churches centres for mission Artions the Circuit is also supporting the work of another deacon. based in Barnes and Richmond, who is seeking to engage with those on the frinEe5 of Church and with the wider communities. In both cases, these appointments could not have been made without the generous financial sUPPOrt of the Ctrcuit and District. the Circuit has once again provided generous financial support to young people attending the 3Gen event in Birmingham. the Circuit has also indicated its willingness to provide support to congregations with any initiatives relateil to evangelism and youth work. Support churches engaging with discipleship, especially among children and young people Clrcuit Llfe Manage our resources in a way that takes account of both the need for sensible stewardship and serves our continuing mission the new Circuit Finance Officer appointed in September. 2025, ha5 already made a significant difference to the smooth running of the Cirtuit's finances and operations, introducing new policies, procedures and planning tools. the Circuit also developed a job description for a new Community Pastor role to work with the Gujarat5 fellowship based at Hounslow, and provide Breater support for the existing con8regation there. External funding will be sought and it is hoped that an appointment will be made soon in 2024125. Encourage a greater sense of identity and community within the Circuit Staffing the Circuit suc¢essfulty recruited a new Community Pastor to work with the Gujarati fellowship based at Hounslow and has already made a very positive impact. the Circuit also managed two staff Sabbaticals and engaged with the stationing process for 2025126 in a timely manner. Managing our finances and property the Circuit successfully negotiated a new maintenance contract with PCC Ltd to manage tts manses on an ongoing basis (starting I September. 20251 in order to ensure that they continue to meet its missional needs.
Richmondand Hounslow Circuit of the Methodist Church Trustees, report for the year ended 31Au ust 2025 Financial review The accounts for the year show income of £342.30912024'. £325,1971, expenditure of £840,839 12024.. £408,765), a gain on monetary investments of £2.54212024'. gain of £25,444) and a loss on disposal of investment property of £nil12024: £143.4921, resulting in a net decrease in funds of £495,98812024= decrease £201,616). The general fund recorded a small surplus for the year of £3,890. The fund is intended to break even year on year. In 2024 the fund showed a deficit of £21,140 lexcluding the property disposal of the former Brentford church). There were no property movements in the financial year12024: disposal of the former Brentford church). The movement on the CMTF in the year wa5 a decrease of £495,82512024: increase of £818,193). The prior year increase primarily reflected the net proceeds of the disposal of the former Brentford Church. In the current financial year the Circuit made major grants to 5 of its churches for property improvements to support mission, tO8ether with support for particular ministries and Circuit staff. At the end of the financial year the Circuit had total funds of £8,063,05512024= £8.559,0431. Endowment and restricted total £53,839. Total unrestricted funds were £8,009,216 comprising designted funds of £56,177, CMTF £982.111 and the general funds £6,970,928. Designated funds have been set aside to cover future expenditure on manse repairs, training and children and youth work not otherwise covered by the general fund budget. Of the general funds, £6,305,0(ID comprises property Inamely 4 manses occupied by Presbyters and Deacon51 and a further £450,000 investment property lone manse let to a tenant) leaving £215,928 of free reserves. This represents approximately 12 months, worth of general fund expenditure. Reserves policy The Circuit's policy for the general funds is to hold at least six months expenditure, an amount of approximately £IIO,000. Actual reserves held currently exceed this figure. The use of these reserves is part of the medium term plan which was prepared for the Circuit Meeting in February 2025 and reviewed in September 2025. This plan includes provision for further spending from the CMTF and general fund for continued support to the churche5 iri their mission, together with sustaining levels of ministry within the Circuit and maintaining manses to a reasonable standard.
Richmond and Hounslow Circuit of the Methodist Church Trustees, report for the year ended 31Au ust 2025 ststement of Trustees, res onsibilities in relation to the financial statement5 The trustees are responsible for preparing the Trustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial Statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. al select suitable accounting policie5 and apply them consistently- bl observe the methods and principles in the Charities SORP- cl make judgments and estimates that are reasonable and prudent; dl state whether applitable UK accounting standords have been followed, subject to any material departures disclosed and explained in the financial statement5,' el prepare the financial statements on the going concern ba515 unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Attounts and Reports) Regulations 2008 and the provisions of the trust deed. They ore also responsible for safeguarding the assets of the charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit but of which the auditor is unaware. They have further confirmed that they have tekane appropriate steps to idenlify such releaant information and to establish the athte auditors is aware of such information. ILI1Vr& 2c'2 This report was approved by the trustees on and signed on its behalf. Rev d Geoffrey Farrar Mrs M Logan
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE RICHMOND & HOUNSLOW METHODIST CIRCUIT Opinion We have audited the financial statements of Richmond & Hounslow Methodist Circuit I'the charity'l for the year ended 31 August 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law arKJ United Kingdom Accounting Standards, including FRS 102 The Finonciol Reportingstandord opplicable in the UKond Republic of Ireland (United Kingdom Generally Accepted Accounting Practicel. In our opinion, the financial statements: give a true and fair view of the state of the charity's affairs as at 31 August 2025 and of its incoming resources and application of resources, for the year then ended have been properly prepared in accordance with United Kingdom Generally AccepteLI Accountin8 Practice- and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for opinion We tonducted our audit in accordance with International Standards on Auditing IUKI IISA5 IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor s responsibilitiesfor the oudit of thefinonciol statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we hove not identified any material uncertainties relating to events or condition5 that, individually OT collectively, may cast significant doubt on the charity's ability to continue as a goin8 concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Inforrnation The other information comprise5 the information included in the trustees. annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information conlained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE RICHMOND & HOUNSLOW METHODIST CIRCUIT In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material mi5Statement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matter5 on which we are required to report by exptIOn We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, report; or sufficient accounting records have not been kept,. or the financial statement5 are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities set out in the trustees, annual report. the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, rnatters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do 50. io
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE RICHMOND & HOUNSLOW METHODIST CIRCUIT Auditorfs responsibilities for the audit of the financial statements We have been appointed a5 auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council'5 website at https=//www.frc.org.uklauditorsresponsibilities. This description forms part of our audit report. Extent to which the audit was considered capable of deterting Irregu13rities, including fraud Irregularities, including fraud, are instances of non-compliarbce with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's webslte, to detect material misstatements in respect of irregularities. including fraud. We obtain and update our understanding of the entity, its activities, its control environment. and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included.. Enquiry of management and those charged with governance around actual and potential litlEation and claims as well as actual. suspected and alleged fraud,. Reviewing minutes of meetings of those charged with governance,. Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the enlity through enquiry and inspection; Reviewing financial statement disclosure5 and testing to supporting documentation to assess compliance with applicable laws and regulations,. Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transaction5 Outside the normal course of business and reviewing accounting estimates for indicators of potential bias. li
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF THE RICHMOND & HOUNSLOW METHODIST CIRCUIT Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to becorneware of instances of non-compliaTrce. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgeryi intentional omissions, misrepresentations, or the override of internal control. Use of our report This report is made solely to the charity's trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. IJ UkJ.- Sam Thomas Isenior statutory auditor) Date.. i(- 2L>"b for and on behalf of Azets Audit Services Chartered Accountants Statutory Auditor Gladstone House 77-79 High Street Egham SurreyTW20 9HY Azets Audit Services is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment a5 auditor of a cofflpany under section 1212 of the Companies Act 2006. 12
Richmond and Hounslow C¥rcuit of the Methodist Church Statement of financial activitie5 and Income and expenditure account for the year ended 31 August 2025 Cirtult Model Designated Re5trirted & General fund Trust funds Endowment Note lunrestrirtedj lunre5trictedl lynre5trirtedl funds Total funds 2025 Total funds 2024 In¢ome from: Donations and legacies Charitable activitie5 Other tradin8 activities Investments 469 234,446 20,013 70,269 152,908 21,717 12.793 91.000 243,908 21.717 76.684 49,919 12,600 1.372 Total intome 187,418 49,919 12,600 92,372 342.309 325.197 EXnditre on: Raising funds Charitable activities.. Grants & donations Stipends & salaries Propertv Assessment & Levy Preaching, training & mission Other costs io 117 4.566 4.691 1,950 326,731 326.731 289,534 51,915 134,113 5,487 28.368 8,545 231,318 61,396 77.796 3.162 24.598 138.926 43,767 37.5(K 2.889 21,821 150.608 8.148 li 96.613 2,598 4.428 2.119 Total expenditure 245,020 427,910 2.119 165,790 840,839 408.765 Net gain/l105sI on monetary investments Net gain/l10551 tsn investment property disposals/revaluations 14 48 2,489 2,542 25,444 1143,4921 Net Sncomellempenditurel 157.5S41 1375,5021 10,481 173,4131 1495.9881 1201,6161 Transfers between fund$ 17 61,444 1120,3231 1495,8251 110,4811 69,360 3,890 14,0531 1495,9881 1201.6161 Other recognised gains and losses Revaluation ot tangible fixed assets Net movement in funds 3,890 1495,8251 14,0531 1495,9881 1201,6161 Reconciliation of funds Total funds brought forward Total tunds carried forward 6,967,038 1,477,936 56.177 57,892 8,559,043 8,760,659 17 6,970,928 982,111 56,177 53,839 8.063,055 8,559,043 All income and expenditure derive frorv continuing activities. The statement of financial activities includes all gains and losses recognised in the year. Movements in funds are disclosed in note 17 to the financial Statements. 13
Richmond and Hounslow Circuit of the Methodist Church Balance sheet as at 31 August 2025 Note 2025 2024 Fixed assets Tangible assets Investment property Investments Total fixed assets 12 13 14 6,305,8(X) 450,000 928,303 7,684,103 6,305,0 450,000 1,443,404 8,198,404 Current assets Debtors Cash at bank and in hand Total current asset5 15 66,995 361,779 428,774 66,905 311,381 378,286 Creditors: amounts falling due within one year 16 149,8221 117,6471 Net current assetsllliabilitiesl 378,952 360,639 Total assets less current liabilities 8,063,055 8.559,043 Net assets 18 8,063,055 8.559,043 The funds of the charity: Endowment funds Restricted funds Unrestricted funds= General funds Circuit Model Trust fund Designated funds Total unrestricted funds 2,475 51,364 2,470 55.422 6,970,928 982,111 56,177 6.967,038 1,477,936 56,177 8,(X)9,216 8,501,151 Total charity funds 17 8,063,055 8,559,043 The accounts were approved and authorised for issue by the trustees on io*W 2CIL and signed on their behalf bv- Rev'd Geoffrey Farrar Mrs M Logan 14
Rlchmond and Hounslow Circuit of the Methodist Church Statement of Cash Flows for the year ended 31Au ust 2025 Note 2025 2024 Cash flows from operatin8 actlvltles 20 1553,6091 1205.0461 Cash flows from investlng activities Investment income 76,684 70,269 Proceeds from dlsposal of investment property 886,508 Disposal of investments 517.643 Purchase of investments 1733.8511 Purchase of tangible fixed assets 12 Net cash provlded by investln8 actlvltles 593,327 222,926 Cash flows from financlng actlvltle5 Repayments of loan granted by Circuit 10,680 10,350 Net cash provided by ftnancing actlvitles 10,680 10,350 Increase in cash and cash equivalents in the year 50,398 28,230 Cash and cash equivalents at the start of the year 311,381 283,151 Cash and cash equlvalents at the end of the year 361,779 311,381 Analysls of changes in net debt At start At end Cashflows Cash 311,381 50,398 361,779 311,381 50,398 361,779 15
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 202 l General Infomiation Richmond & Hounslow Methodist Church Circuit is an a5$0ciation of Churches grouped together in a geographical area. The charity provides administration services and support for each of the Churche5 within the circuit. In addition. the charity is also responsible for helping the wider community, which it does throv8h a variety of donations to various Charities and good tauses. The governing documents are the Deed of Union 119321 and the Methodist Church Act119761. 2 Accountlng policies The principal accounting policies adopted, Judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follow5.' lil Basis of The financial ststemènts have been prepared in accordance with Accounting ond Reportino by Charities.. Stutement of Recommended ProctAce upplictsble to churities preporing their occounts in (Jccordonce with the Finonci¢FI Reporting Stondord opplicable in the UK tsnd Republic tsf Irelond (FR5 102} leffective l January 20191- Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, the Charities Act 2011 and $120081629 (Charities Accounting and ReportinE Re8ulationsl. Pending the making of replacernent Regulation5 Specific to the Charities SORP IFRS 1021 in accordance with Reg.814lldl of 512008/629, the charity trustees have departed from the requirement of Re8.8151 by following the Charities SORP IFRS 1021 instead of SORP 2005 to the extent nece55ary to give a true ènd fair view. re aration The accounts are prepared in Sterling. which is the funttional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. Richrllond and Hounslow Circuit of the Methodist Church meets the definition of a public benefit entity under FRS 102. The accounts have been prepared under the historical cost convention ortransaction value unless stated otherwise in the relevant accounting policy notelsl. aration of the accounts on a oin concern basis The trustees consider that there are no material uncertainties about the charity's ability to contirnue as a going concern. The trustees do not consider that there are any sources of estiMatOn uncertainty at the reporting date or the date of approval of the accounts that have a significant risk of causing a material adjustment to the tarrying amounts of a55ets and liabilities within the next reporting period. The Circuit has denominational regulatory oversight in respect of the work of the churches within the Circuit but has no legal or operation31 control of those churches and their Eoverning bodies except in eKtreme circumstances. For this reason, the financial statements of churches within the Circuit ale not consolidated into these financial statements. livl Fund accountin Unrestricted fund5 are available for use at the discretion of the trustees in furtherance of the gener31 objectives of the tharitv. Designated fund5 are unrestricted funds earmarked by the trustees for particular purposes. Restritted funds are subject lo restrirtions on their expenditure imposed by the donor or through the terms of an appeal. 16
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 2 Accountlng policies (cont'dl Where the Circuit holds money that may not be spent and must be retained las capital) to generate an income the monev or assets to be retained are classified as an Endowment Fund. The income may be restricted or unrestricted depending on the term5 of the endowment. Iv) Income rec Income is recognised and included in the accounts when all of the following criteria are met.. the charity has entitlement to the funds receipt of the income is Considered probable the amount can be measured reliably. nition The following specific policie5 awe applied to particular categories of income.. Donated goods, services and facilitie5 are included at the value to the charity where this can be quantified. The value of servi¢es provided by volunteers has not been included in these accounts. For legacies, entitlement is taken as the earlier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made to the charity that a distribution will be made, or when a distribution 15 received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliablv and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met. the legacy is treated as a contingent asset and disclosed if material. Investment income is recognised on an accruals basis. Income received in advance of the charity becoming entitled to It is deferred until such time as the services have been provided. enditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amourit of the obligation tan be measured reliablv. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Iviil Fixed assets Tangible fixed a55ets are initially measured at cost and subsequently meas4Jred at ctrst or valuation, net of depreciation and any irllpairment losses. Freehold property comprises four residential propertie5 used as Manse%. All properties are owned by the trustees for Methodist Church Purposes as Custodian Trustees but since the charity controls them as Mana8in8 Trustees, they are included in these financial statements. The properties are stated at a valuation by the Managin6 Trustees. The valuation is ¥eflected in the properties revaluation fund since none of the properties has a known original cost. Revaluations ¢xcur at three yearly intervals, unless there is evidence of a materia5 change in the value of the item. A revaluation of the properties was carried out by Sanderson Weatherall LLP on 31st August 2023. The gain or loss ari5in8 on the disposal of an asset is determined as the difference between the sale proceed5 and the carrying value of the asset, and is recognised in the Statement of financial 8clivities. 17
Richmond and Hounslow Circuit of the Methodist Church Ithmes to the account5 for the year ended 31Au ust 2025 2 Accounting policies {cont'dl Iviiil Investment ro IÈS From time to time the Circuit may hold residential property which is surplus to its normal staffing requirements. Where this is the case and wf is anticipated that the property 15 unlikely to be used as a rnanse within two year5. the property is classified as Investment Property Iwhether let out or not) and any let5 are at market rate unless there is a compelling reason not to do 50 in furtherance of the Circuit's charrtable objectives. Investment property is measured at fa(r value at the reporting end date. Revaluations occur at three year intervals. unle55 there is evidence of a material change in the value of the property. A revaluation of the properties was carried out by Sanderson Weatherall LLP on 31st August 2023. The Circuit may also be required to assume responsibility for Church premises following closure and cessation of worship. This results in the Circuit becoming Managing Trustees for the property. At that tirne the property is recognised as an asset at its anticipated sale price as determined by a professional valuation and after taking into consideration the levy to be charged by the Connexion. airment of fixed a55ets At each reportin8 end date, the charity reviews the carrying amounts of it5 tangible a55ets to determine whether there is any indication th3t those a55ets have suffered an impairment loss. If any such indicatiori emist. the recoverable amount of the a55ets is estimated in order to determine the extent of the impairment loss lif any). Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflect5 current market assessments of the time value of money and the risk5 specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than wts carryinE amount. the carryinÈ amount of the asset is reduced to Its recoverable amount. An impairment Ioss 15 recognised immediately in expenditure for the year. unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to applv. Where an impairment loss subsequently reverses, the carrying amount of the asset 15 increased to the revised estimate of its recoverable amount, but so that the increased carryin6 amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment1055 is recogni5ed immediately, unless the relevant asset is carried out a revalued amount. in which case the reversal of the impairment loss is treated as a revaluation increase. Ixl Moneta investments The Circuit'5 investments are in monetary assets classified as basic financial instrument5 under FRS 102 and are held by the Trustees for Methodist Church Purp05es ITMCPI as custodian trustees. The valuations, at market value. are those provided by TMCP. Ixil Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three month5 or less from the date of acqui51tion or opening of the deposit or similar account. 18
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 2 Accounting poli¢ies {cont'dl Ixiil Financial instruments The charity only has financial assets and fSnancial liabilities of a kind that qualify a5 basic financial instruments. Frnancial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the ftnancial statements, when there is a legally enforceable right to Set off the retognised amounts and the is an intention to settle on a net basis orto reali5e the asset and settle the liability simultaneously. Bt75icfin(JnciGlassets. which include debtor5 and cash and bank balances, are initially measured at transaction price including transartion costs and are subsequently carried at amortised cost using the effertive interest method unless the arrangement constitutes a financial transartion, where the transattion is measured 3 the present value of the future receipts discounted at a market rate of interest. Financial assets classified as Teceivable within one year ère not amortised. Bosicfinonci(ylliobfflities, including creditors and bank loans are initially ¥ecognised al transaction price unless the arrangement constitutes a financing transaction, where the debt interest is measured at the present value of the future payment5 discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that havè been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is dLJe within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effertive interest rate method. Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Ordained presbyters and deacons are members of the Methodist Ministers, Pension Scheme IMMPSI. This is a defined benefit scheme operated by the Methodist Church in Great 8ritain. The CiTCUlt has no liabilities to the scheffle over and above the contributions it makes in respect of its OTdained ministers. The charity's lay employees are able to make contribution5 into a defined contribution pension scherne. Eligible employee5 are automatically enrolled unless they have exercised their right to opt out of scheme membership. Employees may choose to colltribute 2% or more of their salary and the charity contributes 6%. Annual contributions are charged to the statement of financial activities. 19
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 3 Comparatlve Statement of Finanual Artivitles Circuit Model Designated Gèneral fvnd Trust funds lunrestrictedl lunre5trictedl lunre5tricted Rèstritted & Endowment funds Total funds 2024 Income from: Donations and legaties Charitable activities Other trading activities Inve5trnents 469 69,004 469 234,446 20,013 70.269 165,442 20,013 15,03S 40,965 12,550 1,719 Total income 200.490 40,965 12.550 71.192 325,197 Expendlture on- Raising fLJnds Charitable activities.. Grants & donations Stipends & salaries Property District Assessment & Levy Preaching. training & mission Other costs 97 1,846 1,950 826 117,098 53,215 37,964 2,762 18,887 7,250 469 8.545 231,318 61,396 77,796 3,162 24,598 114,220 8,181 39.832 400 3,880 1.831 Total expenditure 230.849 48,928 1.831 127,157 408,765 Net gain/l10551 on monetary investments Net gainll10551 on inve5tTnent property di5posals/revaluations 1.857 23.410 177 25,444 1143,4921 1143,4921 Net Incomellexpenditurel 1171,9941 15.447 10.719 155,7881 1201,6161 Transfeis between funds 1836,8661 802,746 113,0371 47,157 11,008,8601 818,193 12,3181 18,6311 1201.6161 Other rètO8nised gains and losses Revaluation of tangible fixed assets Net movemeni in funds 11,008.8601 818,193 12,3181 18.6311 1201,6161 Retonclllation ol funds Total funds brought forward Total lunds carried fowward 7,975.898 6,967,038 659,743 1,477,936 58,495 56,177 66,523 57,892 8.760,659 8,559.043 20
Rlchmond and Hounslow Circult of the Methodist Church Notes to the account5 for the year ended IAU ust 2025 4 Income from charftable actlvltles Unrestri¢ted funds Restrlrted funds Total 2025 Unrestrfrted ftesrted funds funds Totsl 2024 Assessments Performance related grants.. Urban Mission Pioneering Ministry Lay Pastor Community Pastor Contributions from churches: Pioneering Mlnlstry Lay Pastor Community Pastor Other 152,908 152,908 164.616 164,616 21,000 Is,000 20,000 20,OC¥) 21,000 15,01)0 20.CrfJ) 20.CO) 21,000 15,000 20.OJO 21,000 15,000 20.000 5,004 8,000 5,004 8,000 8,Q)O I,coo i.ojo 826 826 152.908 91,000 243.908 165,442 69,004 234,446 The Circuit comprised 7 churche5 and each is assessed for a contrtbution to meet the overall net costs of the Circuit using formula based on assessable income. 5 Income from othertradln8 artivltles Total 2025 Total 2024 Other income Employment Cost recharge5- church staff 21,717 20,013 The Circuit employs lay staff on behalf of several of the chuKhes and their costs are recharged as appropriate. All income from tradlng artivities relate5 to unrestricted funds. 21
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts forthe year ended I'AU ust 2025 6 Irwestmont Income Qrcult Model Desi8nated Trust funds luDrestrfctedl unTe5tritted Re#ricted & Endowment funds Total fvnd5 2025 Totsl nds General fund unr*stncted Rentsl income Income from unlisted investments Interest receivable Loan Interest receivable I2,6(• 12.600 6,152 12,550 7,924 546 5,554 52 12,247 44,365 56,612 1,320 48.145 1,650 1,320 Total 12,793 49,919 12.600 1,372 76.684 70,269 In¥estm•nt Income- prlor year Clrcult Model Des18nated Trust funds unrestridèdl unrestrided Restrlrted & Endowment funds Total funds 2024 General fund unrestrirt¢d Rental income Income from unlisted investments Interest receivable Loan interest receivable 12,550 12.550 7.924 725 7.130 69 14,310 33,835 48,145 1.650 1,650 Totsl 15.035 40,965 12,550 1.719 70.269 22
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 7 StIndS and salarfes Unrestrirted *unds Re5trftted funds Total 2025 Unrestrirted funds Restricted funds Total 2024 Stipends Social Security cost5 Pension contributions Apprenticeship levy 65.556 7,178 12,408 328 62.454 6,709 12.408 312 128,010 13,887 24,816 640 61,372 5,959 15.624 307 58.468 5,558 15,624 293 119.840 11,517 31,248 600 Luy5toff Salaries and wages Social Security costs Pension contributions Apprenticeship levv 47,435 3,149 2,636 236 59.869 6.956 1.600 300 107,304 10.105 4.236 536 30,737 1,297 1,650 152 31.087 3,035 61.824 4.332 1,650 307 155 Total 138,926 150.608 289,534 117,098 114,220 231,318 There were no employèes whose annual remuneration was more than £60,000. There is no accrual for holtday pay as it Is immaterièl." the holiday year ends on 31 August. All staff are paid at or above the London Living Wage. Each Presbyter or Deacon is entvtled to a 3 month sabbatical every 5 years and expenses incurred are met by the Connexion with the Circuit continuing to pay thè stipend. During the year there have been 212024.. no) sabbatical5. The Circuit does not accTue for holiday pay cover as the remaining staff cover the sabbaticals as needed and without extra pay. 8 Staff numbers The average ntjmber of employees wa5 85 fo11ows'. 2025 2024 Headcount Headcount Presbyters Deacons Lay Pastor Community Pastor Administration Circuit Administration & cleaning- Churches io The Circuit art5 as the employer for all staff in the circuit whether based in the circuit or the local churches. Staff costs for those staff working within local churches are recharged to their respective churches. 23
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts f¢Jr thwear ended 31 9 Property exPendIre The Circllit is Managing Trustee for 5 manses. 4 of whlch are occupled by ministers Statloned in the Circuit. One manse 15 let on an A55ured Shorthold Tenancy. Until rts sale in March 2024. the Clrcult also acted as Managing Trustees for the closed church at Brentford. Unrestr5cted funds Restrlcted funds Total 2025 Unrestrl¢ted fvnds Restrfcted lunds Total 2024 Manses Council tax Water Insurance Maintenance contracts Repairs & maintenance Other costs Refurbishment 4,246 1,759 5,041 291 3,436 675 28,319 6,595 1,553 10,841 3,312 5,041 291 3,436 675 28.319 4,418 1,870 5,280 251 7,222 655 25,798 6,837 1,344 11.255 3.214 5,280 251 7,222 655 25.798 Closed churches Insurance Surveyor Other costs 5.299 1.800 622 5,299 1,800 622 43,767 8,148 51.915 53.215 8,181 61.396 24
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 10 Other tosts Unrestricted lunds Restrfcted funds Total 2025 Unrestrfrted funds Restrirted funds Total 2024 Telephone & Broadband Travel Printing, Postage & Stationery Resources Recruitment Other office costs Farewell and other 8ift5 LeBal & professional fees Youth club Accountancv Audit fees Website Depreciation Removal costs 2,502 1,633 1.228 1.138 2.481 1,214 406 327 4.983 2,847 1.634 1,465 1,632 1.191 1.186 13 i.iii 1,443 244 200 826 2.055 1.177 324 80 3,687 2.368 1.510 93 I,iii 1,687 244 200 826 1.580 559 1,580 559 244 1.274 1.274 11.680 27 200 11,680 27 200 li,0 41 Ii,ooD 41 Subtotal (general fundl 21,821 18,887 Letting costs.. management fe Letting costs-. repairs 1,735 384 1,735 1,729 102 1,729 102 Subtotal (designated funds) 2,119 1,831 23,940 4,428 28,368 20,718 3,880 24,598 11 Trustees and Related party transactions The Circuit Superintendent, Presbyter5, Deacons and the Circuit stewards form the Circuit Leadership Team and are consdered as Key Management Personnel. None of the trustees receive any remuneration for their role as trustee. Presbyters and Deacons are trustees and details of their stipends and expenses are.. Deacon Richard 2025 Deaco Kathv 2025 Rev G Farrar 2025 Re¥ A Nyawo 2025 Stipend Pension costs Computer allowance Travel Telephone & internet Removal Other expense5 34,122 6,204 207 1.199 31,020 6,204 207 329 31,020 6,204 207 399 527 31,020 6,204 207 391 1.469 28 652 24 25
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 Deacon Rlchard 2024 Deacon Kathy 2024 Rev G Farrar 2024 Rev A Nyawo 2024 Stipend Pension costs Computer allowance Travel Telephone & internet Removal Other expenses 31,978 7.812 194 749 29,040 7,812 194 370 29.040 7.812 194 230 904 29.040 7.812 194 687 1,205 605 34 499 102 Margaret Logan and Carol Powers were remunerated for their roles as Circuit Administrator and Lay Pastor respertively. Lay Grcuit Lay Clrcuit Pastor Admin Pastor Admin 2025 2025 2024 2024 Remuneration Pension costs Other benefit5 37,071 13,382 803 312 34,277 12,524 751 312 37,071 14,497 34.277 13,587 The legal authority for payment to trustees in their roles as ministers or employees of the Circuit is contained within the Model frust5. Manses are provided by the Circuit for Presbyter5 and Deacons and the Circuit maintains the properties. The value of Council Tax and water charges paid by the Circuit is not disc105ed here as HMRC does not regard this a5 a benefit in the hands of the minister. Lay staff received travel expenses in relation to their roles. but none in respect of their roles a5 trustees. No other tru5tee$12024'. 11 received expenses 12024.. £1241 in respect of their Circuit role. The aggregate amount of donations to the Circuit received from trustees in the year was £nll12024.. £nill. All of the trustees are members of one or another church within the Circuit and may be trustees in their churches. Related parties include the Methodist Connexion, the London District and thé Churches within the Circuit which are listed below. BarThes Chi5wick Heston Hounslow Putnev Richmond ILEPI Roehampton 26
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 The District Assessment is calculated for Circuits within the London District based on a formula which take5 into account ministerial staffin& membership, free reserves. general fund surpluses and cash balances. The Levy is calculated on a sliding scale percentage of the Circuit'5 CMTF account balance at 31 ALSgust of the previous financial year. General fund Clrcuit Model Trust Totsl 2025 General fund Clrcuit Model Trust Total 2024 District Expense5 Methodist Church Fund Levy on CMTF funds 5.400 32.100 96,613 5.467 32.497 5.467 32,497 39,832 32,100 96,613 39.832 37,500 96,613 134,113 37,964 39,832 77,796 The Circuit ha5 a loan agreement with Barnes church. FLSrther details of the loan, together with the amount outstanding at the year end, are in note 15. 12 TanBible fixed assets Freehold land and buildin Total Cost or volu0tn At I September 2024 Revaluation Additions Disposals 6,305.0(X) 6.305.000 i.ocK) I,ocK) At 31 August 2025 6,305,000 I,C)CK> 6,306.000 Accumulated depreciotion At I September 2024 Charge for the year Disposals 200 200 At 31 August 2025 200 200 Net book value At I September 2024 6,305,000 6,305,0(X) At 31 ALJSUSt 2025 6,305,000 800 6,305,800 Land and buildings were revalued at 31 August 2023 by Sander50n Weatherall LLP, independent valuers not connected with the charity, on the basis of market value. The valuation conforms to International Valuation Standards and wa5 based on recent market transactions on arm5 length terms for similar properties. The valuation of £6,305,000 is split between Land values of £4,413,5CX) and building valves of £1,891,500. 27
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 13 Investment property Foir volue At I September 2024 and 31 Au8U5t 2025 450,0 Investment property comprised one manse which is let out to tenants. The fair value of the manse has been arrived at on the ba515 of a valtjation carried out at 31 August 2023 by Sanderson Weatherall LLP, who are not connected with the charity and then updated to reflect property valuatign trend5 in the local area. 14 Fixtd asset investments Brentford Church Surplus funds Alfred Lass Totsl 2025 Total 2024 CMTF uest At I September 2024 Unrealised gain Income Capital income Charges and transfers 1,404,836 2.489 49.919 32,266 48 846 3,832 2.470 1.443,404 2,542 51,000 684.109 25,444 42.296 886.508 1194,9531 183 52 1567.7331 18461 1121 1521 1568,6431 Market value at 31 August 889,511 32,314 4,3 2,475 928,303 1,443,404 Consisting of.. Managed Mixed Fund Managed Equity Fund Trustees Interest Fund 196,794 84,484 608,233 25,903 2,475 225.172 84,484 618,647 224,756 82.358 1.136.290 6.411 4.003 889,511 32,314 4.003 2.475 928,303 1,443,404 The funds that support the Circuit Model Trust Fund and the Circuit's Other funds are held by TMCP. The Brentford Church and Surplus fund5 may be used for any PLJrpose and form part of the General Fund. FIX assèt investments- prior yèar Brentford Church Surplus funds Alfred Lass uest Total 2024 CMTF At I September 2023 Unrealised gain Income Capital income Charges and transfers 647,762 23,410 40,965 886,508 1193,8091 30,409 1,857 1.075 3,645 2,293 177 69 684,109 25.444 42,296 886,508 1194,9531 187 11.0751 1691 Market value at 31 August 1,404,836 32,266 3,832 2,470 1,443,404 Consisting of.. Managed Mixed Fund Managed Equity Fund Trustees Interest Fund 196,431 82.358 1,126,047 25,855 2.470 224,756 82,358 1,136,290 6,411 3,832 1,404,836 32,266 3.832 2,470 1,443,404 28
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au 2025 15 Debtors 2025 2024 Due within one year: Trade debtors Prepayments and accrued income Loan to Barnes church Other debtors 1.737 14,559 12,000 959 27,551 12,000 474 40,025 29,255 Due after more than one year: Loan to Barnes church 26.970 37,650 Total debtors 66.995 66.905 The loan to Barnes church is repayable at £12,C4)O per year over S years. Interest is added to the loan on an annual, non cumulative basis. The interest rate in 2023-24 and 2024-25 was 2.75%. 16 Credltors: amounts fallin8 due wTthln one year 2025 2024 Trade creditor5 Deferred income Accruals 12,721 24,986 12,115 364 6,283 ii,oco Total 49,822 17,647 Deferred Income 2025 2024 Balance at beginning of yèar Amounts released to Income Amounts deferred in the year 6,283 16,2831 24,986 67,757 167,7571 6,283 8alance at the end of the year 24.986 6,283 Income is deferred when It has been invoiced or received in advance of the relevant activity bein8 carried out or lin the case of 8rant income) when performance-related conditions have fiotyet been met. 29
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 17 Movements in funds At I septeMr 2024 Incomlng resources Outgoiftg resources Gains & losses At 31 August 2025 Transfers Endowment fUrS F Alfred Lass Bequest 2,470 52 181 1441 2,475 Restricted funds: Barnes Church loan 49,650 1,320 112,(X)Dl 38,970 Labyrinth 1,000 12,5531 1,553 Pioneering Ministry Urban Mission Lay P35tor Community Pastor 1,856 4,344 14281 20.TrJ) 21,TrJ) 28,000 21,000 146,7091 146,7721 137,5721 132,1761 29,100 28.981 8,900 12,870 4.247 7,553 11,1001 1,694 Total restrFcted fLtnd5 55A22 92,320 1165,782) 69.404 51,364 Unrestricted funds: Designated funds Manse repairs Training Children & Youth Urban Mission 53,097 2,31X) 780 53,097 2,300 12.600 12.1191 110.4811 Total designated fund5 56.177 12.600 12,1191 110,4811 56,177 General funds Circuit Surplus fund Brenrford church TMCP funds Investment propertv revaluation fund Fixed asset revaluation fund Circuit Model Trust Fund 175.940 3,832 32,266 186.389 183 846 1244.9031 62,185 179.611 4,003 32,314 11051 48 17411 450,000 450,0(KI 6.305,ODD 1.477,936 6.305,(XX) 982,111 49,919 1427.9101 2,489 1120,3231 Total unrestricted funds 8,501,151 249,937 1675,0491 2,537 169,3601 8,009,216 Total funds 8.559,043 342,309 1840,8391 2,542 8.063,055 30
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 17 Movements Sn fund5 {Cont'dl Movements In funds- previous year At I September 2023 Incoming resources Out8oin8 resources Gains & losses At 31 August 2024 Transfers Endowment funds F Alfred Lass Bequest 2,293 69 171 177 1621 2,470 Restrtctéd funds: Barne5 Church loan Go,0 1.650 112.0001 49.650 Pioneering Ministry Urban Mission 1.500 2,730 20.004 21,000 28.000 469 145.6481 146,1051 134.9281 14691 26,000 26.719 6.500 1.856 4,344 14281 Lay Pastor Offerings Total restricted funds 64.230 71.123 1127,1501 47.219 55.422 Unrestricted funds: Dèsignated funds Manse repairs Training Children & Youth Closed church expenses Urban Mission 53,097 2,300 780 2.318 53,097 2,300 780 12.3181 110.7191 12,550 11.8311 Total designated fund5 58,495 12,550 11.8311 113.0371 56,177 General funds 156,844 3.645 30,409 199.218 197 1230,7521 iioi 1871 1143,4921 194.122 175,940 3,832 32,266 Circuit Surplus fund Brentford church TMCP funds 1,075 1.857 19881 Investment propertv revaluation fund Fixed asset revaluation fund Circuit Model Trust Fund Grants paid in advance Owing to GF fof manse repair 1,480,000 11,030.0001 4SO.000 6,305,000 647,762 48.500 136.5191 6,305,000 1,477,936 40,965 148,9281 23,410 814.727 148.5001 36.519 Total unrestricted funds 8,694.136 254,005 1281,6081 1118,2251 147,1571 8,501,151 Total funds .760,659 325,197 1408,7651 1118,0481 8.559,043 31
Richmond and Hounslow Circuit of the Methodist Church Notes to the accotsnts for the year ended 31Au U5t 2025 17 Movements in funds (Cont'd) Purposes of re5trirted funds Urban Mission. Pioneering Ministry. Lay Pastor- these funds support particular ministries within the Circuit. Offerings- collected for spÈ¢ifi¢ Connexional funds. Purposes of desiBnated funds These funds have been set aside by the Circuit Meeting to serve specific purposes but are not restricted by any document 01 deed to that purpose alone. Manse repairs- for major repairs o¥ iefurbishments not covered by the annual amounts within the general fund. Training- unspent budget from prior years agreed to be set aside for future trainin@ needs. Children & Youth unspent budget fyom prior years agreed to be Set aside for future needs in this area of work. Urban Mission- receives the rent (less fees and costsl from the Roehampton manse which the trustees have agreed to be used to support this particular ministry. General fund for use at the discretion of the trustees in the furtherance of the general objective5 of thè Circuit and which have not been de51gnated for other purposes. Circuit Model Trust Fund for use at the discretion of the trustees in the furtherance of the general objertives of the Circuit. Its main sourte of income 45 legècies and proceeds13fter fees and levies) fiom the sale of manses and churth buildings in the Circuit. Although this 15 an unrestricted fund under the control of the Circuit Meeting, prior approval is Still required from the District to utilise these funds. Methodlst Standing Orders 917, 930 and 931 are applicable. Circuit property is carried in the General fund but upon sale the net proceeds are proce55ed through the Circuit Model Trust Fund. The sale during the year of the former Brentford church gave rise to a transfer of £886.508. 18 Analysis of net assets between funds Unre5trirted Circuit Model funds Trust Designated funds Restricted funds Endowment funds Total funds Tangible fixed assets Investment propertv Investments Net current assets 6.305,800 450,000 36,317 178,811 6.305,800 450,000 928,303 378,952 889,511 92,600 2,475 56,177 51,364 Net assets at 31 August 2025 6,970,928 982,111 56,177 51,364 2,475 8,063,055 32
Richmond and Hounslow Circuit of the Methodist Church Notes to the accounts for the year ended 31Au ust 2025 Analysis of net assets between funds- prevlous year Unrestrirted Cif¢Uit Mod funds Trust Designated funds Restricted fund5 Endowment funds Totsl funds Tangible fixed a55ets Investment propertv Investments Net current assets 6,305,(M)O 450,000 36.098 175.940 6.305,(0 450.OfY) 1,443.404 360.639 1,404,836 73,100 2,470 56,177 55,422 Net assets at 31 August 2024 6.967.038 1,477,936 56,177 55,422 2,470 8.559,043 19 Events afterthe balance sheet d*e At the Circuit Meeting held on 30 September 2025. the meeting agreed that the Circuit should release Barnes Methodist Church from the loan made to it by the Circuit and accordingly the value of the loan will be written down to Zero at that date. 20 Reconclllation of net movement in funds to net cash flow from operatSn8 artivlties 2025 2024 Net surpluslldeficitl for the reportin8 year las per the statement of financial activities) 1495.9881 1201,6161 Adjustments for: L055llGainl on investments LossIIGainl on investment property Depreciation charge Investment charges Interest income from investments Decrease/llncreasel in debtors Increa5e/ldecreasel in creditors 12,5421 125,4441 143.492 2CK) 176,6841 110,7701 32,17S 170.2691 87,700 1138.9091 Net cash Iu5ed inllprovided by operating activities 1553,6091 1205,0461 33