REGISTERED CHARITY NUMBER 1134270 Re oftheTntss forthe Year ended 31 Unlted Stock arcuit
Unlted Stoc rt Clrcult Re ort of the Trustees forthe Year Ended 31 Au The trusEees present their report with the financial statements of the charty forthe year ended 31 August 2023. The trustees have adopted the provisions of the Charities Act 2011 and the Charities 'Statement of Rettlmmended Practice ISORPI 2015. as applicable to the Financlal Reportlng Standard IFRSSEI 2015. REFERENCE AND ADMINISTRATIVE DAlL$ ftestered Charlty number 1134270 Prln¢lpal address United Stockport Circuit Circuit Office Tiviot Dale Methodist Churth Tiviot Dale Stockport SKI ITA Tntstees The member5 of the Circuit Meeting are the CharityTrustees. A full list of trustees is at Annex A to this report. Acfountant and Audltor McKellens Limited Chartered Accountants 11 Rlverview The Embankment Business P?rk Vale Road Heaton Mersey Stocks)0rt SK4 3GN Advlsers The charity's investment marbagers are: The Trustees for Methodist Church Purposes. Central Buildings, Oldham Street, Manchester Ml uil The Central Finance Board of the Methodist Church, 9 Bonhill Street, London, EC2A4PE The following ministers actedthroughoutthe yw. Rev. Catherine Bird Isuperintendentl Rev. ndSaY Kemp Rev. Dr. Raj Patta Rev. Dr. Katharine Smrth Deacon JanetAmey Deacon Annette Sharp
United S rt ar¢uit Re ort of the TThstees forthe Year Ended 31 Au ust 2023 STRucfuRE, GOVERNANCE AND MANAGEMEMr GOvern1r document The charity is controlled by Its govemlng document. a deed of trust. and constltutes an unincorporated charty. The charitable trust Is constltuted by the Deed of Union 1932. the Methodlst Church Act 1976, Is part of the Methodist Church of UK. The trustees listed have Served throughout the year. Appolntment of trustees is governed by the Methodist Churth Act 1976. The Managing Trustees of Churches and the Circuit are empowered by our Standing Orders to appoint new tn15tees and to fill vacancies arislng through reslgnation or tleath of an existing trustee. Circuit Managing Trustees have regular meetings where the Circuivs main areas of artivity and by extension the aims of the charity are discussed and agreed. The day-to-day functioning of the circuit is governed by Standing Orders as set out in the const[tlOn, practi and Discipllne of the Methodist Church. The charitable trust is registered with the Charity Commission. FINANCIAL REVIEW Overvlew Over the last year, the Circuit has begun a process of consuttstion to assist the Circuit as we look to the future. 'Managing Change and Making Choices. is imiolving a strategic look at the fundamental building block5 of the Circuit our local churches, our staff, our buildings and our finances. The consultation has emerged from an evolving understanding that the Circuit has been running at a significant deficit in order to fund ongoing ministry and that in the longer temi the Circuit will be needing to COll5ider how to reduce overall costs andlor raise more income. A number of factors are significant here.. It Is recognised that the trustees have placed an over-re11an upon the knowledge that impending property sales would release significant assets. Trustees have been more short-term rather than long-temi focussed le.8. we have enough money to pay for something now but not considering well enough the ongoing costs). Wlth the combination of three circuits, our mission and ministry land consequently financial operztionl grew very quickly and we were not well enough prepared. As soon as trustees realised that things were not as stablelp05itive as we had considered. we engaged Transforming Churches and Communities to offer support in the day-to4ay management of making and processing payments and salaries and lormed a finance group so that the day to day burden of financial oversight did not fall on one person Irecognising that as Trustees we are collectively responsible for the finance. with a collective duty of scrutiny) and to offer a way forward which has been agreed by the trustees. The resulting financial plan gÉves the Circutt a sound financial basis over the next three years at least- we can maintain our ministry and meet our commitments- but th15 IS a catalyst for us to think about how we shape OLJr ministry moving forkvard - not just making 'cuts' but how we can make sure that we have a ministry that is impactFul and effective and meaningful. that doesn't drive anyone into the ground with overwork and that is realtIC in terms of the situation of the wider Methodist Church in terms of the extent to which ordained ministry can be prowded.
Unhed Stock rt c1¢ Re ort ofthe Trustees for the Year Ended 31 Au t 2023 Mlnisterial stipends remained the same during the year. The Circuit has continued to employ 0 part- time lay employees as Clrcuit Admlnistratlon Manager and Cjrcuit Premise5 Admlnistratlon Support Worker. The manse at Mlle End Lane has been vacant pending the arrival (due later in 20231 of the refugee famll¥ under the refugee communty sponsorship scheme. The sale of stiles Avenue has progressed slowly. and an extension is to be sought on the term of the bridging loan from MCA mIted. The sales of St Johns MC and Trinity MC are expected to complete in the next Connexlonal year. The total assessment levled on the churches was £298,047. The Circult made an overall loss In the year of £1,686.095. The total income and expenditure account for the year is detailed in the financial statement5. Following guidance from the Methodist Church, properties managed by the Circuit were restated at Cost, where known, or Deemed Cost. This resulted in a reduction in the value of properties as shown in the prior year's accounts of £1,998.814. In September 2023. after the end of this financial year. St John's Methodist Church wa5 sold for significarbtly less than its Deemed Cost and accordSngly an impaim)ent to re(luce the value in the accounts was recognised to reflect this. Following the closure of Jubilee Methodist Church. rt was transferred into the Circuit at Deemed Cost. However, a valuatlon carried out after the year end implied that the value that Jubilee could be sold for Was significantly below Deemed Cost and. as such. a significant impairment reducing the value in the accounts was recognised. The adjustments in respect of properties during the year are so large that they mask the operational income and expenditure of the Circuit. Excluding the property transattions, the income of the Circuit was £453,672 and the expenditure was £725,287. leaving a defictt of £271,624 for the year. Reserves pollcy The Managing Trustees have reviewed the major rtsk5 which the charity faces and consider that there are none which would stop the charity from maintaining its objects. Assessments from individual churches have been agreed for the forthcoming year. It is the policy of the charity to maintain unrestricted funds at a reasonable level to cover unforeseen expen5e5. This provldes suffitlent funds to cover management and administration and support costs for at least 6 months. Fund5 available are sufficient to perniit the trust to continue in operation In the medium ternii given the agreed asse5STnents of the individual churches and the Connexional nature of its governance. The trustees review the major risk5 which the charity faces and consider that there are none which would stop the charity from maintaining its objects. Support from individual churches has been promised for the forthcoming year. Rlsk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure approprlate controls are in place to provlde reasonable assurance against fraud and error.
Unlted Stoc cu Re ort of the Trustees fortheyear Ended 31Au Safeguardlr The Circuit is committed to ensuring the implementation of the Connexional Safeguarding Policy government legislation, guidance. and safe prartice in the circuit and in the churches. Investment Powers The Methodist Ch4Jrch Att 1976 authorises the trustees to make and hold investments using the general and other funds of the charity. and such investments are presently held and shown within the financial ststements at their current value. OBJECTIVESAND AcfivmES The objectives and alms of the manang Trustees are to oversee and further the work of the Methodist Church. To thi5 end, those attivltles which tome wrthin the oversight of the Managing Trustees are to provide ministerial oversight. manage circuit property including manses, contribut2, as agreed, to District and Connexlonal assessments and be mindful of development opportunttles for the Circult. In orderto do this the Managing Trustees, raise assessments on indiwéual Methodlst Churches in the UnitedStockptarea in accordan with Standing Orders. They may a150 make grants to individual churches for property. Ministry and Mission as permitted and governed by the Standing Orders. The Managing Trustees believe that these actlvitSes and the church resources are for the public beneflt a5, through its work the Managlng Trustees enable pastoral ministry, splritual engagement and contribute to tommunitv development in the United Stockport area. The Managing Trustees have noted the Charlty Commission's guldanee on publlc benefit. ACHIEVEMENT AND PERFORMANCE The United Stockport Circuit continues to oversee a wide range of mission related activities. impacted by the ongoing effects of the global coronavirus pandemic. Its Town Centre premises, known as Tiviot Dale, gradually coming back into use, represent an office and ministry hub for the Circuit and are gradually becoming widely used by members of the public, offering 5UPPOrt for marginalized groups and individuals. The closure and deasion to sell a further church building- Jubilee- was regretful but necessary and ha5 led to renewed thinking about the future deployment of ministry in the Circuit. The Circuit entered the final stages of applying to the Home Office to become a Community Refugee Sponsorship organisation, using a redundant Man property and are preparing to welcome a family from Syria. The clrcuit continues the process of working towards becoming an Eco clrcuit. As well as these initiatives the staff continue to offer wlde ranging input of a pastoral and practical nature to local churches, in 5UPPOrt of their endeavours to develop good governance and mission outreach. Various fellowship and blble study groups take place as well as work with parents and toddlers. Most church buildings are used to host a wide range of community organisations who benefft from gootl quallty and affordable space. The Circuit works closely within the Manchester and Stockport District of the Methodist Church, and withln the structures of the national Methodist Church. benefitting from tralnin& ministry and govemante resources.
Unfted Stock rtarcult Re ort of the Trustees forthe Year Ended 31 Au A lot of the work in the clrcuit is done on a voluntary basis and includes that of Circult and church offlcers, Local Preachers and Worship Leaders, members. and secretarie5 of all the church committees and those assisting In running children's Work etc. Ministerial and lay staff members, along wlth volunteers within the church, contlnue to undergo Safeguarding training and ar@ becoming familiarized with the purpose, procedures and practice of GDPR. The Circuit has agreed to appoint Transfoming Church and Communities to manage day lo day circult finances, and to transfer the current account to CAF Bank wtth subsequent onllne facilities to enable the Circuit to monitor our financial activitles more effectr1¥. Having identlfied the deficit, the tnjstees are operating intentionally with it for now and will in the next financial year be developlng a formal strategy to manage future expenditure. Stipends and salaries have been covered, Circuit property managed and kept in reasonable repair. and extemal expenses Ilncluding the Dlstrict asse55mentl covered. STATEMENT OFTRUSTEES RESPONSI8ILmES The trustee5 are responsible for preparing this report and the financial ststements In accordance with applicable law and United kn'ngdom Accounting Stsndards Iunrted Kingdom Generally Accepted Accounting prarti). The law applicable to charities in England and Wales. the Charities Att 2011. Charity IAccounts and Reportsl Regulations 2(X)8 and the pmvisions of the trust deed requires the trustees to prepare financial statements fcr each financial year. The statements must gtve a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, induding the income and expenditure, of the charity for that period. In preparing those financial Statements, the trustees are required to- select suitsble accounting policies and then apply them consistently- observe the methods and principles in the Charity SORP: make Judgements and estimates that are reasonable and prudent: prepare the financi31 ststements on the going concem basis unless it 15 inappropriate to presume that the tharity will continue in business. The trustees are responsible for keepin8 proper accounting records which disclose wrth reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the finantial statements comply with the Charities Act 2011. the tharity (Accounts and Report5} Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preventlon and detection of fraud and other irregularities. Approved byorder of the Clrcuil Meetlng on 12" December 2024 and slgned on Its behalf by: L6J Rev. Catherine Blrd
AppeNlix A Managlng Trustees 2012123 The trustees are the member5 of the Circutt Meeting as set out below as at 31 August 2023: ircult Staff Rev. Catherine Bird Isuperintendentl, Rev. Lindsay Kemp, Rev. Dr. Raj Patta, Rev. Dr. Katharine Smith, Deacon Janet Amey. Deacon Annette Sharp. ayne Quinn. Carol Jack, Frank Dean, Sharon Heginbotham, Richard Prlce, Michael pinall Ircult Stewards c. of Clrcult mtg of Prea¢hers' eeting Ircult Treasurer ircuit Property Sec iz Delafield Sharon Heginbotham ircult Safeguarding lstrlct Rep {Lavl Hugh McLaughlin ndrew Stoker a¥enport ialstone Lane dgeley azel Grove eaton Mersev Heaton Moor MarpSe orniley e Ridge indlehursl oodley udith Mottram. Eddie Partington, Colin Lewis triona Stoker, Jane Hollins, Dave Bryant Mavis Hammond, Penny Ollerenshaw, Margaret Foley ayne Quinn, lan Chester. Judith Adshead ulie Dickson, Sue Ainsworth, Anne Cowlishaw ue Jones, Deborah Symmon5 hil Le Sueur. Philip Singleton, Meryl Blackburn ohn Owen5, Jennrfer Crutchley, RKhard Goodall eter Johnson. Bob Ollerenshaw, Janet Fidler ernie Rowlands, Graham Clarke, Helen Stocks ohn Purves, Lynne Styles, Sue Skidmore
United Stockport Clrcult Independent Auditorfs Report to the Trustees of the United Stockport Circult Oplnlon We have audÈted the financial statements of Ihe United Stockport Circuit (the 'charitVI for th8 year ended 31 August 2023, which comprise the Statement of Financial ActNity, Balance Sheet, Statement of Cash F5ows and Notes to the Finarrial Statements. indudSng a summary of signfficant accounting policies. The financial reporting framework Ihat has been applied in the1r preparation is applble law and Unit8d Kingdom Accounting Standards comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (Unlted Kingdom Generally Accopl8d A¢counling Practice) as amended by th8 requirements of Methodist Conference. In our opinion the financial siatements- give a true and fairviewof the state of the ¢hariVs affairs as at 31 August 2023 and of its income and expenditure for the year then ended-, have been propedy prepar in a(xxJrdanc8 with UnSted lQnglom Generally Accepted Accounllng PracliGe-, and have been prepar8(I In accordance with the requirements of the Charrbes Act 2011. Ba818 for opinion We conducted our audit in accordancx wth International Standards on Auditing (UK) {ISAs IUKII and applicabl8 law. Our responsibilities under Ihose standards are further described in the Audllor's responsibilities for the audit of the financial statements section of our report. We are independent of charily in accordance wrth the ethical requireTnents that are relevant to our audit of the financial slalemenls in th8 UK, including the FRC'S Elhical Standard. and we have hjifilled our Other ethical responsibilities in 8ccordance wlh these requirements. We believe the audit evidence we have obtained is sufFicienl and appropriate to provide a basis for our opinion. Conclusions relatlng to golng concem In auditing the financial stalemenls, we have concluded that the trustees. us8 of the going cOrErn ba51S of accounting in the preparation of the financial statements is appropriale. Based on the work we have perfomied. we have nol identrfied any material unc6rtainties relating lo ev8rils or GOTlI70nS that, individually or collectivdy. may cast signrficanl doubt on the charills ability to continue as a going concem for a period of at least tsvdve months from when the original finanoial statements were authorised for issue. Our responsibilities and the respDnsibilibes of the trustees vrith respecl lo going concern are descrlbed in Ihe relevant sections of this report. Other Inforrnation The other irrfomation comprises Ihe information induded in the Trusleeg, Report, other than the f1nancial statements and our auditof s reFQrt Ihereon. Our opinion on the financial stalemènls does not cover the other inforTnation and, except to the extent otheTwse explicitly slated in our report, we do not express any forni of assurdnce conclusion thereon. In connection with our audit trfthe financial statements, our responsibility is to read Ihe other Infomalion and, in doing so, Consider whether Ihe other infomialion is materially inconsi51ent with the flnancial statements or our knowledge obtsilled in the a¥Jdtt or Othe]se appears lo be materially misstated. Ifwe idenlrfy material inconsistencies or apparent material misstatements, we are required lo detemine whether Ihere is a material misstatement In the fina[la1 ststements or a material misstatemerst of the other information. If, bas8d on the WOTk we have perfom)ed. we conclud8 that there is a material misslatemenl of this other information, we are required to report that faca. We have nothing to reFQrt in this regard.
United Stockport Circuit Independent AudIt0S Report to the Trustees of the United Stockport Clrcult Oplnlon on other matter prescribod by the Charities Act 2011 Sn our opinion, based on the work undertaken In the course of the audtt: the infomiation given in the Trustees. Report for the financial year for vthlch the ffnancial statements are pr6pared is ¢onsistent with the financial statements- and the Trustees. Report has been prepared in accordance wilh app5icable legal requirements. Matters on which wg aro required to report by oxception In the light of our krKiwledge and urvjerstarmling of the charty and its environment obtsined in the course of the audit. we have rKIt identtfied Tnalerial misstatements in the Trustees, Report. We have nothing to report in respect of the followng matters where the Charities Acl 2011 requlres us lo report to you rf, in our opinion: adequate accounting records have not been kept. or retums adequate for our audit have not been recenied from branches not vistted by us. or the financial statements are not in agrgemerrt wth the accounting records and retums,. or rtain disclosures of TTUSt88s' Remuneration spectfied by law are not made,. or we have not received all the inforn)ation and explanatlons we requirs for our audit. or the trustees were not entit]ed to prepare the financBI statements in accord8n¢e with the small ox)mpanies regime and lake advantage of the Small companies. exemptions in preparing the Trustees, Report. Responsibilities of trustees As explained more fully in Ihe Statement of Trustees, Responsibilities [set out on page 81, the Iruslees are Tesponsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for Such internal conlrol as the trustees deterniine is necessary lo enable the preparation of financial slalements that are free from material misstatement. whether due lo fraud or effor. In t)reparing the financial statements, Ihe trustees are resFrf)nsible for a55essing the charlty's abllity to continue as a going conrn, disdosing, as applicable. matters rdaled lo goiw conr and using the going c4)llcern basis of accounting unless the trustees either intend to IH4uidate the charity or to cease operations, or have Ho realisl'c alternative bul to do so. Audltorfs r8sponsibllities for the audit of tho financial stalomgnts Our objective5 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 auditr)r's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) wll always detect a material misstalemer)t wher) il exists. Misstatements can arise from fraud or effor and are consKlered material rf, individually or ir) the aggregate, they could reasonably be expected to inlluence Ihe economic decisions of users taken on the basis of these financial statements.
United Stockport Circuit Independent Audltofs Report to the Trustees of the United Stockport Circult Our appToach to identifying and assessing the risks of materiat misstatement In respect of Irr8gularities, including fraud and non-compliance laws and regulations, was as follow3.. the engagem8nl partner ensured that the engagement team collectwely had the appropriate competence. capabilitl8s and skills lo identfy or recognise InrpI18ce wth applicable laws and regulations., ' we identified the laws and regulations applicable to the charity through discussions with Iruslees and other management, and from our knowledge and exp8rience of th8 charity sector," we fUsed on specrfic laws and regulations which considered may have a direct mal8rial effect on the financial stalements or the operations of Ihe charity, Iuding the ChaTilies Act 2011, taxation legislation and data protection. anti-bribery, emplonenL enwronmental and health and safety legislation- we assessed the extent of complian¢e wilh Ihe laws and regulations idenlified above through making enquirie5 of management and inspe¢Ung legal Corresponden.. and . that identffied laws and regulations We ¢ommunical8J thin the audfÉ team regularly and the team remained alert to instarKes of noNompliarK throughout Ihe audit. We assessed the susceptibility of the chariV5 finanaal statements to material mi5s1alemenl. Induding obtaining an understanding of how fraud might occur, ty. ' making enquiries of management as to %there they consKlwed there was SUSptibl11ty lo fraud, their knowledge of actual, suspected and alleged fraud- • considering the Internal controls in place to mityate risks of fraud and norComplI8re with laws and regulations,. and • understanding the design of the chartLYs remuneration policies. To address the risk of fraud through management bias and override of contrds. we.. ' p8rformed analytical prOClureS to identify and unusual Dr unexpected relationships,. . tested joumal entries to identify unusual transactions-, assessed whether judgements and assumptions made in detemiining accounting estimates set were Indicativ8 of pot&ntial bias., and invesligatsd th8 rationale behind signfficant or unusual trdrwtions. In response lo the risk of irregularities and non-compliance wlih laws and regulations, we designed procedures wblch Incluéed, but not limited to: . agreeing finan¢lal statement disclosures to undertwng supporting dCmentation., ' reading the minutes of meetings of those charged Mth govemance" ' enquiring of maragemenl as lo actual and potential Irtation and claims; and ' reviewng correspondence with HMRC, relevant wulators and the charivs legal advisor8. A further description of our sponSIbl11es Is available on the Finawial Reporting Couwil's website at- www.frc.org.uklaudilorsresponsibilities. This desCripn fomis part of our auditorfs pOrt. io
United Stockport Circult Independent Audltorfs Report to the Trustees of the Unlted Stockport Circuit Use of our report This report ts made soleby to the trustees, a5 a l))dy. in ac00rdan wtth the Chariti6s Act 2011. Our audit work has b8&n undertaken so that we might state to the trustees those matters we are required to stale to them in an auditor's rewrt and for no other purpose. To the fulle$t extent permitted by law, we do not acc8pl or assume responslbillty to anyone olher than the charity and th2 chariW5 trustees as a body, for our audit work, forthis report, or for the opinions we have formed. Paul Roper jS8nior Statutory AudTtor) McKellens Ltd 11 Riverview The Embankmenl Business Park Vale Road Heaton Mersey Slo¢kport SK4 3GN 26, January 2025 li
United Stockport Circuit Circuk 19 2 ststement of Flnancial ACvitieS (SOFA) for the year ended 31 August 2023 Note5 to th• unt8 Ck¢ult Model De51gnatsd TN8t Fuhd5 Genernt Fwid R•gtrtct•d Fndowmont Fund$ Fwdg Total 202243 Income 1 D¢n8Oons and1oga¢l•y 2 Inwmfy mon&tsry INstM 3a Inum• from investtrprgwb'e8 3b Inc(Nne from flxBd assel propertie 4 Assas$ment8 on 5 Capltal Rgcelpts 6 Grants rèceived 7 oar ¢harft8bk8 Ire 78 Serw¢e 7b Spon50rshlp 8 Tol41 Incomè 10 10 9.755 850 27.143 298,047 3.1 27.143 29b.047 1.519.1B7 24,245 11443 13N43 804 9.127 1020.U3 27.375 2.057.f04 Expendlture 9 Grts and donakn 10 Salaries and assocww costs 11 PToperty ma'.nteTNgtK 12 CneO81255eS$rnenI & rn(#YeltnJst knvy 13 Dlstrict As8tsSSrnIt& Le¥y 14 Dewe¢lalk)n 15 Offl¢e eyryses 158 Inltrèst P8y8bfe 16 Other oulf]Qin 17 Totsl EhaTltablB oxpèndltiw 18 G8lnsll105sesl on monetsryinveslmenls 19 GalnslQosse51 Dn investtthent 6WB& 20 Nèt Ih¢om•ll•Xr*ndrn1 21 Trpnsler¥ beten fUS 22 Oth8r ga>nsllla¥s&sl Priorp6rioO adlustsr8nl 23 Nol rnovement In fund 24 Tot4 lur¥Js lThgM foNtad 25fotal funds(arried fon¥aYd "" 304,384 341.381 233.r 532 70,816 7Q818 242S7 14865 30,068 725.287 -10 24.W3 653.190 -10 &eiJ1 64.041 1.os 1,36T.403 041 069 1.331.808 16 4,017.3 ,017,903 -139 163.058 033 4,686.095 9.2W.4164 7.514309 8.878,280 7,L121.710 150.OOD fOm8 1&597
United Stockry)rt Circult Ctrajlt No 19 2 Statement of Financlal Actlvltles (SOFA) for the year ended 31 August 2022 Nolès to GBn•rnl Fund {Unrestrlct•d) Cirtuk Model DeSIal0d Funds R8strlct8d End¢)wrngnl T¢>tsl Funds 202142 Fund8 a¢¢ounts Income 1 Donations and Wddes 2 In¢ome from mon8W vest[ne 3 Income from inv95tmenl propert 4 Assessments on Churches 5 C8pItsI Receipts 8 Grants rece6ved 7 Other charitable in¢orTY 8 Total Inc¢)me 761 54f 761 1.319 227.147 326,523 62,255 14.941 387,354 1.020.30Q 778 157.¥24 326,523 6225S 14,941 138,003 612247 249,351 407,275 778 Expendlturo 9 GTant5 and th)nali)n$ la S818rl88 and a580Ci•tBd costs 11 Ppety malnt8nanc* 12 conneoal as$essm&nt & tyust 13 nistrlct A55es5menl & Levy 14 Gas & Electhc + New Mans& 15 Officg 8NOon 16 Othèr Dutgolng5 17 Totsl ¢harftable expenditur8 18 Gain51lL055e51 on monetsry in¥e8b718nts 19 Galnsll1088esl on Inveslrwt PTopertie5 20 Nèt incomelloxpendlturel 21 Trdn8f8rs between funds 22 Other galnsllbJ8ses Pdor adjusbnent 23 Net rnoYom8nt In fun¢l¥ 24Totsl fthnds brought forward 25 Totslfunds<arrledfoThvaTd 4,705 188,744 117,247 109,182 98.101 q02.806 188,744 170.134 109,182 128,235 291.978 6,780 109.936 1.107.795 -2.121 21x1,565 110.949 52.887 .50.369 262,5(XJ 29,478 ).7e6 584.768 -2.409 59.170 523.027 271 17 224635 -11SA81 17 8.450213 -2.2Y.142 6.441.706 2,434,574 8,076280 8,450.213 -2,257.713 6,303,449 2,897,015 9.200A04 13,150 -101331 265,987 163.8 .36.721 5,943 185.943 1.000 17 10,611 10.$28
St11 Cktyjit C11•JN0 2 Balance Sheet as at 31 August 2023 Totyts 2021122 RESTATED Funth FLM 12 12 4.8 4A.428 4.4W,428 4.515.784 7,529,029 t2 ,752 1,erx) 35,183 172,QfO Y,3.1 Z74•31 29,2 3.0 174.$78 186.721 loarrtbythe Thrrt 11.15U Citsi ArwQ¢gDQp¢¢lts ¢a¥hAtBÉn Intaid Iw.(£o 73.095 7.447 1W7 r¢(hknrSlcEn0erl Grants olm7m?223 28,191 28,1 411749 14,49D 451.752 2US5 18.$•7 241M40 rthi•8Sefsl¢sscwf•ntlWII 7,204AaQ 035 16,5•7 7,7T4569 9.é62.964 dueafter morethan one LO109 C5rft 2aEOD 2B2.5 7fvZ1,710 T,514Jfj9 Furmls tyltsCIlI Fund IUwesb** 7m1. 24m3 8.876,280 163,656 7A947n 18.55F 9,189P30 10.$28 T(lFlId 7.021.780 24033 11,597 7,514J6 9200 Sign1 Jason Smith Dl9ltaltysigned by Jason Smlth Date.'2025.01.19 CiroJÉt Treasutsr
United Stockport Circuit Clrcult No 19 2 Cash flow statement for the year ended 31 August 2022 RESTATED 2022 2023 statement of flow¥ Cash from opgratlng actlvlth$ Net cash used in o oratin actswli¢s -148,$72 386,009 Ca#h flows frorn Inve#ting actlvltl•s Dlvidends.interest and rents ffom investments PrnK8eds from the sale of prOperty.an1 and Ul$Tt Purchaga of proparty,plant &nd equlpment Purchas& of intangible assets Prooped8 from the salè of investments Purchase of Investments oth8f 41,758 -t28,468 25,000 Nel cash provlded by investlng artlvfttgty 41.758 .753,466 Cash flows from flrtanclng activiti Ngw borrowing Repayments of borrowing 262,500 N•t Cash us•d In flnanclng actlvSUes 282,SOO Chango In cash and eash equlvaEonts In tho r•portlng pgrlod Cash and cash equivalents at Ihe bgginning Oft [X)rJ ped Cash and oash gquivalents at end of lh• reportlng perlod -19),330 432.810 241480 -704,957 537,787 432,810 2023 2022 Reconclllatlon of nfjt Incomo io n•t eash flow from o actfvitles Net Incomts for thts reporting peTicJ { as rAr slatement of finanryal ivib'esl Adjuslments for: Dèpr8elaUon and arnortisatK)n charg&s Profil on the sale ol fixed assets Loss on thg sale of fixwl a5S8ts Galns on Invèstments Revaluations of propertie8 Itnpairrnent of investmEllt property PYA to P&L re loan Capitxl rlpt of churchlès) tronsfejyed in Dividends. interest and rents Irorn Investments Decrgasellincreasel In sloL*s linCaseecrEs5e in debtors increaselldecreasel In credrtor8 -1.68fj,095 6.291.689 -200,565 1,998,814 3,017.903 -1.535,720 -7,925.213 41.758 228.465 1.861 11.701 -21,672 14,490 ca¥h us•d In opgratlng acllvltles .148,572 386M09 2023 2022 Anal sls of cash and cash wulvahnt Cash In hand Short term dep)slt (loss than 3 rnonlhs) Total sh and cash equivalgnts 34.311 208,169 242A80 71,511 381.299 432.810
United stoCkrt Circuit Year ended 31 August 2023 Circuit No 19 2 NotOS to th• Accounts Basls of ac¢ountlng The fh8nGL81 stat8mts have bw prepfjr In wxydw Ac(wlrt * Re[Xy by ChBrfUes.' Stslernenl cfRecommended Pracl1tr8 awkab 10 ch8OVas prepariry acc%nts ITr SCre the Rethytrg Starxtsd thB UK and RgpuLliG of lT9nd IFRS10211offe¢UN 1 Jenuwy 20191. (Charth SORP IFR810211, the Re"n9 Stsrthd In thtr uKd FIofIr89nd IFRS I219nd Act 2011 bythp rryuirfjmqnt8 the M8tr¥thtUwi¢h. 2 Funds Unreslrictgd Incor Mrvjs 8re 9Bneral Ihai aro avblo frjr w ai tTr• trusws oftr ofts arel Thg Clrtrj Modd Trvol F purpow Yefi iThSlrfTrJ (rf•sand t5 &g DeSnat fLmds are unrestrlcted fur$ 8etathftysp8tifjc Rgslrfctsd knnd5 Bre dDnRted use in a parkn ta or fur wr. thtr restr to that purEos8. Detall¥ ol each materi4lfund at dlsdtswj Th)10 th0È8 Yjnts. tyrTeth0nstfaSh. ThBre 2tt EThth)wmentft¥bts. 3 Accountlng polt¢499 Sasls The YAockport arcuit the Dfa bet FRS 102. Tlw haw rKe[j undoi cost convtion lth re¢Sed al co8tortr8fflsockn vakne otheThy stsled in the Mtglsl to Iheawwnts. In prior perf, trb3 wer8 wopared on a rash b85k%. preparJ ) a¢epAs $. Th8 arthuDn9 pollcy "prtor Perfod Adlu5knenfilude futher(ktal¥ Iitfywes tthded In the CoDsolldaOpn The Ur(ul has detK)minatK)nal wum1ryov9t& oflho orth8 chth wlhin the Cir¢uh birt haST W (oFw•llon Control ofth58 Chwthes atwj th8ir govmir¥) b¢1$ oxtw In &tpmJ dman. Fty INS re. st8iEnts ol church ¥thin the CIrt ara nDt consolidated Into the68finanual 91819mt$. Golng conc•m fora rurwofyearn. Incomlnq Resourtss Inc(xno i8 Inthded In the Stst¥ffl£nt of FYwicKg1 ISOFAI the Cll bK4TheE to rp50urces, and twstgB6 arg t¥a80nably certaln theywll rer%ve th& r96¥., aidthe b& nsrJ7th suffiLYtrt reU¥blty' . R•sourc6s Exwnded Thls is recogni$ed %than a N8Lqity É Inwrr¥J. LY a aw. Ih81 fepA hi F8ymenl un8¥ddthle. Uablwes are reCogsed s soon as an uutnow of wKm":¢ benolt (XlDg rrm rrA thè or ruthLiYe (atiL Clbng th8 CwGuit b pay out VAT Skn¢g Cwcutt k rolVATTe9lstwed. altrWVAT oxwss8st0*fi K¥efw& 16
United Stockport Circuit Year ended 31 August 2023 Circuit No 19 2 Not•s to tho Accounts 3 Accountlng pollclgs continued... Grants Grants mado by the Ckcuit from its M funth ui fiatetiM9 Cwvil thatthere b a W cryratJon81 Igatlon to make thè pgyme n$lons The [Ud0 ¢0 re to ptyn ConirtsrtKft¥thtr ye4V £46.834 ialrOfpbJ. Two8¢h6m88 we (A)nirld to.. P8yErents ot£5.182 b> 8 dori stherro for and É41,651 to MAfisi K"niswg IMklPSI, a dèfined b2rnfi1 sthm8 for MISters. Fw the s¢h8rr. th8 ¢hiiy h8$ N IthHy making its jbJti atyj a(rts$ for Iho em0. conMbu#lO. The M$ Shoukl bg a grw fys AU th• ntyr and thundl, LYJTthI lh& Conferellce. BBcau8e K Is part Lrf a Mu110[ Sd avj Lknty h ty)t avthb. w>Th8nts hav8 ago been for ag a fWiwY conti1bn xhÉm&ln tsCh•fjUesSORP. At Ihe Lqsl 31 Augus12020. th8 MB¥¥ytst kknthrs psK Scheyne was n dtht by t14m. ThB IIAlvJdkt CJTI egtBwJ a retyjvwy plan and tsm o'o¢fvo foi in Apil 2022. Th Rtywy kn Cly1¥ of ¢onthkn81 p8ymML over 6 years funded from thg P6n$bn R688rv& Fund ofThe ma1hr6.Ctr¢h In &eBt BThta. Ther815 w•menl w s pol f¢r ¢h&rglng th8 def1 benefrt I15 ofts as awhde ID vvth¥kJud crvjits deL¥sK be bytha Cotrfwence. Mlftlslers'mansa costs Tho Ch18 required to pr(Mde rnolOr gaL Akn&er Ihe Iher fnrt&S and saBn as B bnt0th9 ar6 xpp&8d th8 manso PrOv$d ftrthem. Th Qr(xit bfjats (rfwa. Ma1, L4]$ wwon¢6. T8K 8nd 1Charges. Theso flgures ar¢ rKI Sèpar81e Llscbsed os kind as rrtse& the$&reCe kn the hwds ofmlnLSters. Tanglblo IIx8d ass8ts for use by the Clrcuft PrLwbeE arg sMwn in the acwjnts at C05t or. when ¢osl ai c(r. I)idanL 1swJgd by thB M&thoth5t church in Octobw 2019 'A¢counfjng &ir Tangibkn Ftsed A8sets" slatss Deem&l Ct i4 * 131 S¢pthbw 2015. Tha land [mpont b not glven as 8 $fjP8rgts amrnL No d0pre¢E811on k% pl0ded on buldlng$ Se the thtstees rjrn re8th far clthe buldln9s the aBsumptknn that Ihey had reach tr8 e1 of Ihwr SefUl oC(xvJ[n Iv86 w-eThJl to mt than thg oxrent wa. Any thprel4K not be matert. The prtyerbes havè been Ttrvlowthd f¢imp¥t)w)t. Investmentproperties From time lo lime Crcu't tnay be ratr.ed to au[nB r85p¥1ty FLe5 folT.r Lkn and EB5saffion ofworship. Thi5 rsUng In th¥ Circuit 0MlY4 magIng T1$ ftsrthe woperty. Th& rKIpty In as prorty unYI of th& property Is &tFrmined or tha woperty i4 scrfd. Propww ere nrJLd atthe Wer0frw v. ¢ostLg not n0v. are irld at 'Deem9d CD5V usitkgtrE 5arnewncpl9sfIcUlaIIw [TdCl as fKwJ inthB Tan) A65e15 wliryabove. Irwg$trnenl propèrttss ara f1d fw Prme¥ Investments Invgslments 8revdued In Ihe trffjlan shtLMarket¥kne atthB IrNesbnty* irnLS thè iVaNe Bnd any oalns orlo8se$ on revSlu2tn FtlhB end we SOF 17
United Stockport Circuit Year 6nded 31 August 2023 Circult No 19 2 Notès to the AOUnts 4 Poymont to Trustees and fated party trans•eUons Twu5teè oxp8n88S 2021r22 Numbsr of Truste85 Toial amount 12 £9.182 Expense poyTreDts wlmarftyrAt8to r4mbur8rw4for W L¥vJk &xL8and WWtyLXi8. Th8 Ckpjit hes eTvJwJed the boDkkwng servk5<1Trwthrnty Ctsjths 8ThJ rrcc'i,, a pihd bythe Mathr&I Church of Great Brmaln and fcfin•Ja8 a n6wtrthporwJent y4Gthn.C &"rd. a c4tr akoA trustee afTCC. fknng 2WIZ123. fv4sof£8.250 wer0 payBbla toTCC. C Bird L8 abo ¥ trutho ofth8 ma¥Vj Stockwitr1 lowhcffi a880ssM&%xerrtis p4wbg9ch Ip¥. Iha MoThthg¥1orgnd StQL&portD181rfcl ma atrf11thTh cI£13a18 ttsth8 rBsFeAd b.me c4)rnmW byc 8tdto he[wkh Dklrict Ftr for •xamlnatlon or audlt oftho aecounts 2021122 Ind8P8ndent Wornlnerf$ or audrt0 lees for the accounts other fee5 leg.. advic8, xcountsncyseMts81 to I ind8pend8nt 8¥arner or auditor NIL NL 6 Pald employe•8 staff CMt¥ pd durfng the arw•re.. Gross Ivages, sthrie5 and b8n8fts In knn(I Ernployerfs National IrtsIa C1$ 2021122 266,422 22.419 Pensh)n c08ts Total staff cos18 335.675 Av•rag8 number of amploy8e8 kn the ywweYe'. 13 7 Capftal Rtc•lpts Capital rec8ipts InclLYles t1,5,7?0 Iho Dew)wd tstof Jth CIVcn. camo thjorI mapAgiw tru6lBeship of the opr.Akn incbjed are aUnt9 In re5pectdtsdowrg ofll bth x(yJrt tthJtrJTmMy Ctrrtych and tho CArwW8 shar8 offuS on thè cbsure of Christ Cthh 8 Other galnslllossesl Othei gain8llbssesl reklES kn lrnparrnents th value bo8n rwthd rBs&vAof St Chur¢b8nd bIa ChuKIK W. St John Church was sold shxtly aft•rth6 r end andlhs Thpaimentiwws w<¢8wJs rthLA OfJube wa8 undgrtAen In January 2024 and an impwryr.enl [1198d10 rthl dbja1.
United Stod
Untted Slockport CircuÉt Year ended 31 August 2023 Circuit No 19 2 Not•s tgtho Accounts 11 Investhjont a¥sets Flxturos. ffttlng$ and PlantS on a¢¢(Junl and oth0rbhnl Tolal constfufalon Balan brwght ioriwd Adifftlon8 RaluatIONS l+l_) Impalrm8nt i-l Dlsposals l_l Tran5fers'141-1 Balanc& carried fon¥8vd 4.515.784 1.535,720 4,515,784 1,535,720 -3,017,)3 4,017.903 3.033,601 3,033,601 ¢hurthos as IvestsentaBets kn the Ctr[s acLvJnts tl y9ar¥j13 21 r¥.. -TrfnityMethrJbl ¢hur¢h.' ¢lxxch was bkn thl d - St John¥ Churth.. this church w SO 8fterlhe sWdotO01 $$th D8n¥J C(L Tro¥nkwrmentari51rg Lm gae hB5 bDarn In IhÈ$e -Jubibe Church, IAarple' trls Cam? m8nJw trlee 15e2023 and 18 In(d aB 8naddNkn to hvestrnenl a55ets. An irnpairrnertlo the Deemed Cr¥S thllrch h89 rtywiwj vabjatkn gfbrthe banco $h•gtd&i 12 Debtors and Prepaymènts 2021r22 Debtors lthurih a55e55rnent5 ar reelwl stFends paid in thrKe by thurches 10.141 19,611 18,072 Stn5 paid in advarK8 by thurch8S 11.760 Total debtDTS 29.752 29.832 13 Cr•dltars 2021r22 Credllors 13.807 A¢cru818 12.384 14,4 Total d8btor8 26.191 14,4 14 Loanb to the clrcult 2021122 methl$t Chapel 2fj2,5 Total I5 lo the dTryJIt 262.0 262.SQO The Clrcuiltook Lxrt a loan from Method15t (Jyl AKI to a6515t *ilh the wrchase 8 ayaiti (he 8alg pro¢eeds Irom 8a1& of a Separate rnanse. 15 Capltsl Commltments and Contlngent Llabllioes At 31stAu9ust2023 Ihere are no carmtal cunmitrTts arml nD tI18biuIes wjentified at 31st Augu$t2023. 20
United Stockport circ11 Year ended 31 August 2023 Circuit No 19 2 Notgs to tho Accounts 16 Anatysls of re8trtcÉed and d8slgnattd lund• 2022r23 Fund Name OpÈnlng Balan¢¢ Incornkng RQr¢ Resources other ctoslng BaJanGe Trtnsfe Unrostrfcted funds Gengral Fund Ctrwit e1 Trust 8.870.2KI 163.656 1020.eA)3 27.375 -.190 4.017.913 .204.000 -160,000 7,021,780 24,033 USC Misskn fund Stoc&port tth¥n centre ministy USC SponsThBhlp Sch8m8 Desgnat 1,()0 1S),000 290,959 9,000 449.959 44,041 355.0(M) 19).000 44.041 364.0(K) Total unrnstrlEtéd 9,189.93e 2,047,978 -724,229 _ 3.017.913 7.495,772 R•th¢t•£l Funds Funds held by TMCP USC Spon80rshlp Sth8m8 Total r68trictsd 10,528 11,151 7.448 18.597 10.528 9.127 -1.058 Totsl funds 9,200.484 2,057.105 -725.287 3.017.913 7,514.369 Cotnparalive analysis of r05kncied and designated funds 2021r22 Openlng Incomlng Bdanco Fund Name Pdor porfod ent Closlt)g Balance Unrostrlcted funds General Fund Clrcuit Model Tntsl 2.434.574 265.987 9.263.025 407.546 -587,177 -5rJ,027 -2,234,142 13.150 8,876,280 183,656 Unrnstrfcted deslgnal8d funds USG Ml$sion Grarrt Fund USC Sponsorshlp S(wne other de$lgnat0d DÈslgnated 150,000 150,000 185,943 18S.943 778 n8 -1e6.721 46.721 150,OCX) Total unrgstrlcted 2.886.504 9,671.349 -1,110,204 -2.257.713 9,189,936 Re8tricted FuM18 Funds by TMCP USC Sps(shiP Ti)tal r•strictsd 10.511 17 10,528 10,511 17 10,528 Total furtr 2,897,015 9,671.366 -1.110.204 .2,257,713 9,2},464 In 2022r23 a new degnated fund was estab55hBd tsthe St(xtx¥tTown c rnini5ty. In 2021r22 cos15 of £14.348were Incurrecf wilh regard tD thi5 ministry before Ihe Vds desiwed. Thls provldes furbjlng fDr8 dextm olher rnsts USC MIs8ion FU is tth¥8rds rFYssbM devdopt Th8 USC Sponscffshlp t8 a r 12ny 21
United Stockport Circuit Year ended 31 August 2023 Circuit No 19 2 Not•s to th• Accounts 17 Analysls of n•1 assets betwogn funds 3143 Génèral Fund IUnre6trl¢t&dl C*¢uTt Mod Trust Unr0$tdd R¢te Total unrEstrl¢t0d Tangible fixed asS8ts Fixed asset investmenls Current a55ets Curwt Ibgbililes Long tem) Uablilbs Totsl n&t as$ets 4,495.428 3,033.601 -218.558 -26.191 .262,5(Kl 7,021.780 4,495,428 3.033,601 274,031 -26,191 -262,500 7.514.369 24,¢]33 18.597 24.033 449.959 18.597 Clrcult Model Trust 31i18¢42 GenoTr1 Fund Iunrwlrictedl 4,495,428 4,515,784 141058 -14,490 -2,500 8,876280 Fund8 unrestrfcted Funds Tanglbla flxed as66ts PIx8d Inve8trfwts Curr8nt assets Curr8nf Ilabl188 Long term liabileS Total net a8set5 4.495,428 4.515,784 466,242 -144 -262,500 9,200,464 163.656 19).0( 10,528 163ffi56 15D.000 10,528