COVENTRY AND NUNEATON METHODIST CIRCUIT Circuit Number: 5110 Registered Charity Number: 1134347 TRUSTEES'S ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024
COVENTRY AND NUNEATON CIRCUIT TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Introduction The Coventy and Nuneaton Circuit currently includes 15 churches (of which three are Local Ecumenical Partnerships) in Coventry and the North of Warwickshire. The Circuit Meeting oversees the work of the Methodist Church in this area and seeks to respond to the needs of its churches and communities. Aims and organisation We affim that as the Methodist Church in the Coventy & Nuneaton Circuit we will encourage all God's people to". Love God with all their heart. mind, soul. and strength. . Reflect God's love in words and actions. As Methodists in this Circuit will live out our calling by: Supporting varied and quality worship. Helping to deepen discipleship. . Offering care and support. • Responding to the needs of others, at home and in the world. Challenging injustice. Helping people share their faith. Making more followers of Jesus Christ. Revlew of the year The Circuit has supported all 15 churches during the year by providing Ministers and Local Preachers to lead church services most Sundays. Several fundraising events were put on by churches throughout the Circuit to raise funds for the International Children's Trust, and a total of £840 was raised during the year. The Circuit was pleased to be able to continue to support Woodside Methodist Church with part funding for a Parish Nurse. The Nurse continues to have a positive impact at Woodside and the surrounding Gommunity. Income trends Circuit income is primarily drawn from the ass&ssment paid by the circuit churches. vlith £311 .829 raised during the year. The Circuit has many volunteers who assist with its effedive running. For example, stewards assist the leadership team with recruitment, others help to maintain the church manses. These services are not recognised in the accounts. Expenditure trends Ministerial stipends and allowances increased in line with conferen approved rat8s. £72,636 of expenditure is the Circuit contribution to the District and Connexion, of which a significant part is used to fund the work of the wider Methodist Church. £38,044 of Circuit expenditure was taken from the Circuit Model Trust Fund for mission and growth projects around the Circuit. Page 2 of 28
Fund balances As at 31 August 2024 the net current assets of the Circuit were £0.8 million and total funds were £1.46 million. Total funds have decreased compared to the prior year due to the intentional use of reserves to fund specific projects and reducing the amounts churches needed to contribute towards Circuit costs. Plans for 2024125 We have an evangelical growth strategy that is being implemented over the next few years. The strategy consists of 7 streams each led by a Circuit Steward and small team: 1. Children, Youth and Family - to nurture children and Yth as disciples of Christ within the church family. 2. Discipleship through Learning and Caring - to inspire churches in their spiritual growth through small groups as a means of grace. 3. Evangelism and Church Planting - to work with churches as they practice principles of 'Church without Walls, and model church planting. 4. Justice, Compassion and Peace - to help provide food, shelter and clothing, offer safe space and comforting presence, listening ears and radi(21 advocacy to victims of social inequality. 5. Staffing and Staff we114)eing - to promote. safeguard and nurture the ongoing well-being of Circuit staff and employees in order to comply with all recruitment, employment and appraisal towar(Is sustainable growth in the Circuit. 6. Flnancing and Resourcing - to explore mission investment models toward the productive use of Circuit resources from which churches may draw inspiration from their vision growth projects. 7. Worship and Spirituality - to sustain a culture of worship vibrancy in the Circuit which appeals to members and visitors. Over the coming year the leadership team. th the relevant approval of the Circuit Meeting, will undertake a review of the strategy and streams to ensure that it remains effective for the developing needs and resources of the Circuit. Page 3 of 28
Trustees. Annual Report of Finance and Governance Basis of preparation and legal framework The Charity's annual report and accounts for the year ended 31 August 2024 have been prepared in accordance with the Charities Act 2011 and the Accounting & Reporting by Charities SORP FRS102 effective 1 January 2019. Full Name of Charity: Coventy and Nuneaton Methodist Circuit Registration Charity Number: 1134347 Date of registration 16th February 2010 Main communication address: Bedworth Methodist Church, Mill Street, Bedworth CV12 8JZ The members of the Coventry and Nuneaton Methodist Circuit Meeting are the Charity Trustees, membership being made up of circuit Offi holders, ministers and representatives appointed by the local churches. A list of Trustees is shown as Appendix A to this report. Circult Ministers and officer5 Active Circuit Ministers Rev Jill Marsh, Superintendent (started 1 September 2023) Rev Jane Braund (left 31 August 2024) Deacon Sheila Davtson (left 31 August 2024) Rev Doreen Koffie Williams Rev Stephen Willey Rev Christine Crabtree (started 1 September 2024) Local Ecumenical Partnership Minister Rev Dr Allan Smith Circuit stewards Mr Andy Pinks (resigned 31 August 2024) Ms Karen Brooks Mr Peter Dipple Ms Perpetua Shaukaringwa Mr Tony Cashmore (appointed 1 September 2024) Mr Alastair Mcculloch (appointed 1 June 2024) Treasurer Administrator Mrs Jane Bennett Independent examiner Azets Audit Services 3Mc Middlemarch Business Park, Siskin Drive, Coventry. CV3 4FJ Investment Bankers Central Finance Board of the Methodist Church Trustees for Methodist Church purposes Page 4 of 28
Aims and organlsation The purposes of the Methodist Church are and shall be deemed to have been Sin the Date of Union the advancement of". a) The Christian faith in accordance with the doctiinal standards and discipline of The Methodist Church,. b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church; c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church. d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to the Methodist Church In addition we: Organise and resource regular public acts of worship open to members and non-members of the church. Teach Christianity through semons. courses and small groups. Resource pastoral work including visiting the sick and bereaved. Take religious assemblies in local schools. Promote Christianity through the staging of events and servIs. Provide chaplaincy services to the local university and other institutions. Public Benefit We confinn the trustees have had regard to the Charity Commission's guidan on public benefit. Structure, Governance and Management The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976). Detailed govemance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD). Day to day management of the Circuit is undertaken by the Circuit Leadership Team along with the Local Preachers meeting, and Stream 6 Finance & Resourcing Team. Trustee Training A range of guidance produced by Methodist Connexion to support the effective running of the circuit , specifically the leaflet 'The Role of a Trustee in The Methodist Church, is given to all new Circuit meeting members as induction to their role as trustees. Related Parties The Circuit is part of the Bimiingham District and is also accountable to the Methodist Conference. The following Methodist Churches are related to the Circuit: Artey Balsall Common Coventry Central Hall Collycroft Meriden Nuneaton Ridge Lane Ryton Bedworth Earlsdon Radford & Holbrooks Woodside Ave The following Local Ecumenical Partnerships are related to the Circuit". Atherstone Fillongley Horeston Grange Method to appoint new Trustees When required, Churches within the Circuit put forward people to serve as Circuit Trustees. Trustees are expected to actively support and further the charitys work. Page 5 of 28
Risk Management The major risks have been identrfied and recorded by the Circuivs Stream 6 Finance & Resources Team with professional advice taken as required. Income and Expenditure is being monitored in total and is compared with the approved annual budget on a regular basis to deteGt trends as part of the risk management process to avoid unforeseen Galls on reserves. Safeguarding Every person has a value and digntty which comes directly from the creation of male and female in God's own image and likeness. Christians see this potential as fulfilled by God's re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm. Methodist Connexional practi outlines commitment to the following principles: the care and nurture of. and respectful pastoral ministy with, all children. young people and adults. the safeguarding and protection of all children. young people and adults when they are vulnerable. the establishing of safe. caring communities which provide a lovlng environment where there is informed vigilance as to the dangers of abuse. . We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal record disclosures through the Disclosure and Barring Service (DBS) We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed. cooperating with the police and local authority in any investigation. We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of infomied pastoral care. We will seek to challenge any abuse of power, especially by anyone in a position of trust. We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult. In all these principles we will follow legislation. guidance and recognised good practice. The Coventry & Nuneaton Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy: government legislation, guidance and safe practice in the circuit and in the churches. The Coventry & Nuneaton Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilitie5 in safeguarding and promoting the welfare of children and adults who may be vulnerable. Reserves Policy The Reserves Policy for the Circuit is to hold a minimum sum equivalent to 3 months, average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and l or to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches. Approved by the board of trustees on 26 February 2025 and signed on its behalf by Rev Jill Marsh. "JLkn Page 6 of 28
Balance Sheet for the year ended 31 August 2024 z Unrestrtcted Designated Réstricted Funds Funds Funds Total this Year Total Prior Year Fixed assets Tangible assets F01 F02 F05 653,145 653,145 Total red assets 10 653.145 653,145 653,145 653,145 Current assets Debtors Cash at bank and in hand Current asset investments Total cuffent assets 13,711 133.906 1.660 669.562 15,371 806,569 14 16,894 849,104 3.101 147,616 671.222 3.101 821,940 865,998 Creditors= amounts falling due within one year 12 (16,240) (1.492) (17,732) (15.524) Net current assets/(liablliti"es) 131.376 671.222 1,609 804,208 850,474 Total assets 131,376 1,324,368 1,609 1,457,354 1,503,620 Creditors: amounts falling due after one year Provisions for liabilities Total net assets or liabilities Funds ofthe Charity Endowment funds Restricted income funds Unrestrided funds Revaluation reserve 131,376 1.324.368 1.609 1.457,354 1,503,620 16 1,609 1,609 1.455.744 1,531 1,502,089 16 131,3T6 1,324.368 Total funds 131,376 1,324.368 1,609 1,457,354 1,503,620 Signed by one trustee on behalf of all the trustees Date: 2610212025 RevJlll Marsh Page 7 of 28
Coventry and Nuneaton Methodist Circuit {5110) Annual accounts for the period 11912023 to 311812024 Statement of Financial Activities (SOFA) Charity No: 1134347 Endowme nt Funds Unrestricted Deslgnated Restricted Fund5 Funds Funds Total Funds Incomlng resources Income and endowments from: Donations and legacies harttable actlvllles (income) other trading actie$ Investrnents 311,831 4,500 11,287 323,118 4.500 24,615 13,931 83 38.629 Separate material item of inGome Other Total Resources expended Expenditure on: Raising ftjnds Charitable activities Separate material Item of expense Other Total 6,900 347,846 6,900 373,147 25,218 83 357,289 62,120 419,413 357,289 62,120 419,413 Net incomel(axpendlture) before Investment gainsl(losses) (9,443) (36,901) 78 (46,266) Nel gainsI{lo8s} on investments Net incomel(expenditure) Transfers between funds (9,443) (12.000) {36,901) 12.000 78 (46,266) 16 Other recognlsed galnsl(losses): Galns arKI losses on rev8luatSon of fixed assets for the charity's own use other gainslllosses} Net movement in funds 21.443 24,901 78 46,266 Reconciliation of funds.. Total funds brought fard 16 152,820 1.349,269 1,531 1,503,620 131.376 1 .324.368 1.609 1.457.354 Total funds carried forward Page 8 of 28
Coventry and Nuneaton Methodist Circuit {5110) Annual accounts for the period 11912022 to 311812023 Statement of Financial Activities (SOFA) Prior Year Unrestricted Designated Restrided Endowme funds Funds funds nt funds Total funds Incoming resources Income and endowments from: Donations and legacies Charitsble activlties Other trading activltl8S Investments Separate material item of Ino)me Other 302.862 504 303.366 12.714 9,101 48 21,863 Totsl Resources expended Expenditure on: Raising funds Charitable aCtieS Separate material ¢tem ofewse Other 6.271 321.847 1.940 11.545 8,211 333,440 48 337,446 136,946 474,396 Totsl 337,446 136,946 474,396 Net incomel(expandlturo) before investment gainsl(losses) Nel gainslllosses) on Investments (15,599) 125,401) (140.956) Net incomel(expenditure) Transfers between funds Other recognised gainsl(losses): Gains and losses on rovaluation of fixed assets for thè charitys own use Other gainsl{lossos) Net movement in funds (15,599) (12,000) (125,401) 12,000 (140,956) 27,599 113,401 140,956 Reconciliation of funds.. Total fvnd% brought foryMr(f 180.418 1.462.670 1,487 1,644,575 Total funds camed forward 152,820 1,349.269 1,531 1,503,620 Page 9 of 28
Cash flow statement for the year ended 31 August 2024 This year Prior year Cash from operating activities Net cash provided by (used in) operating actsvities (81.164) (156,602) Cash flows from investing activities Dividends,interest and rents from investments Proceeds from the sale of property,plant and equipment Purchase of property,plant and equipment Purchase of intangible assets Proceeds from the sale of investments Purchase of investments Other 38.629 21.863 10 Net cash provided by (used in) investing activities 38,629 21,863 Cash flows from financing activities New borrowing Repayments of borrowing Net cash provided by (used in) financing activitles Change in cash and cash equivalents in the portIng pertod Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period (42,535) (134,739} 849,104 983.843 806,569 849,104 14 This year Prior year Reconciliation of net income to net cash flow from operatin Net incomel(expenditure) for the reporting period (as per SOFA) Adjustments for: Depreciation and amortisation charges Profit on the sale of fixed assets Loss on the sale of fixed assets Gains on investments Dividends. interest and rents from investments Decreasel{increase) in stocks (increase)Idecrease in debtors increasel(decrease) in creditors aGtivities (46.266) (140,956} (38,629) (21,863) 11 12 1.523 2.208 8,962 (2,746) Net cash used in operating activitie5 (81,164) (156,602) Thi5 year Prior year Analysis of cash and cash equivalent Cash in hand Short term deposit (less than 3 month5) Total cash and cash equivalents 14 806,569 849,104 806,569 849,104 Page 10 of28
Notes to the accounts Note 1 Accounting Policies Basis of preparation and legal framework These accounts have been prepared under the historiGal cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.The accounts have been prepared in accordance with". 1. the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 effective 1 January 2019). 2. and with the Charities Act 2011. The charity constitutes a public benefft entity as defined by FRS 102. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practi for charittes applsryng FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has Sin been withdrawn. Based on the monetsry assets and human resources available as at 31 August 2024, the trustees believe that the Circuit is a going concem. The Circuit has denominational regulatory oversight in respect of the work of the Churches within the Circuit but has no legal or operational control of those Churches and their goveming bodies except in extreme circumstances. For this reason. the accounts of the Churches wtthin the Circuit are not consolidated into these financial statements. Presentation. currency and rounding The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Recognition of income These are included in the Statement of Financial Activities (SOFA) when: the charity becomes entitled to the resOurs. it is more likely than not that the trustees will receive the resources; and the monetary value can be measured with sufficient reliability. Offsetting There has been no offsetttng of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102. Grants and donations Grants and donations are only included in the SOFA when the general incoma recognition critoria are mot (5.10 to 5.12 FF<S102 SORP). In the case of performan related grants, income is only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP). Page 11 of 28
Legacies Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met. Contractual income and perforniance related grants This is only included in the SOFA once the charity has provided the related goods or seNices or met the performance related conditions. Donated goods Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their reIpt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carying amount of the stocks at distribution. Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in 'lncome from other trading activities, with the corresponding stock recognised in the balance sheet. On its sale the valu8 of stock is charged against 'Income from other trading activities. and the prOedS from sale are also recognised as 'lncome from other trading activities,. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SOFA as incoming resources when receivable. Gifts in kind for use by the charity are included in the SOFA as income from donations when receivable. Donated services and facilities Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA. Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Income from interest, royalties and dividends This 18 included in the accounts when receipt is probable and the amount receivable can be measured reliably. Income from membership subscriptions Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies. Settlement of insurance claims Insurance claims are only included in the SOFA when the general income re(x)gnits"on crrteria are met (5.10 to 5.12 FRS102 SORP) and are included as an item of other income in the SOFA. Page 12 of28
Investment gains and losses This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES Liability recognitlon Liabilities are recognised where it is more Ilkely than not that there is a legal or constwctive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. Grants wlth performance conditions Where the charity gives a grant with conditions for its payment being a specific level of Servi or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. Grants payable wlthout performance condltions Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation is recognised. Redundancy ¢ost The charity made no redundancy payments during the reporting period. Deferred Income No material item of deferred income has been included in the accounts. Creditors The charity has creditors which are measured at settlement amounts less any trade discounts. Provlsions for liabilitles A liability is measured on recognition at its historical cost and then subsequenuy measured at the best estimate of the amount required to settle the obligation at the reporting date Basic financlal Ilabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments 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 have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due 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 effective interest method. Derecognitlon of financial liabilities Financial liabilities are derecognised when the charitys contractual obligations expire or are discharged or cancelled. Page 13of28
ASSETS Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effeGtive interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future recelpts discounted at a market rate of interest. Financi212gsetg Glassified as receivable within one year are not amortised. Tangible fixed assets for use by charity These are capitalised if they can be used for more than one year, and cost at least £1,000. They are valued at cost. The depreciation rates and methods used are disclosed in the notes. Investments Fixed asset investments in quoted shares. traded bonds and similar investrnents are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents With a maturity date of less than 1 year are treated as current asset investments Debtors Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received. Flnanclal instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Gharitys 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 financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Critical accounting estlmates and judgements In the application of the charitys accounting policies, the trustees are required to make judgements. estimates and assumptions about the carying amount of assets and liabllities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the vIsion affects both current and future periods. Page 14 of 28
Notes to tha accounts Note 2 Analysis of income unrestr1d Restrictod Endowmgnt funds funds funds Total funds Prfor yèar Donations and legacles: Church Assessments: Arle Atherstone Balsall Common Bedworth Central Hall Coll croft Earlsdon 8.857 2.000 40,122 12.757 73.884 5.043 59,468 8,857 2.000 40,122 12,757 73,884 5,043 59.468 9,331 2,000 35,741 12,602 43,044 5,347 63.034 -Kll-Pll! Fillon le Horeston Gran Meriden Nuneaton Radford & Holbrooks Rid e Lane on Woodside Ave Woodside Ave Parish Nurse Other donats'onslgiftaid 4.735 600 13,055 33,025 12,677 3.331 9.654 32.621 6.094 5.195 323,118 4,735 600 13,055 33,025 12,677 3,331 9,654 32,621 6,094 5,195 323,118 4,735 600 12,283 35,330 15,928 2,625 9,654 30,559 20,553 303.366 Total Charitable activities: Grants 4.500 4,500 Total 4.500 4,500 Other trading activities: Lettings Totsl Income from investments: Interest income 38,546 83 38,629 21,863 Total 38,546 83 38,629 21,863 Separate material item of Income: Total Other: other 6,900 6.900 6,900 6.900 8,211 8,211 Total TOTAL INCOME 373.064 83 373.147 333.440 Other information: All Income in the prior year was unrestricted except for: £48 interest for funds held in the restricted Weatherall Memorial Fund Page 15of 28
Notes to the accounts (cont) Note 3 Analysis of expenditure Unrestrlcted Restricted Endowment funds funds funds Tolal funds Prior year Anal is Expenditure on raising funds. Total expenditure on raising funds Expenditure on charitable activities Stipends, Salaries, NIC & Pension Supemumarylretired Minister fees Travel 252,905 3,180 6.584 6,239 3,278 23,269 23,416 11.080 72,636 9,159 3,621 4,041 252,905 3.180 6,584 6,243 3,278 23.269 23,416 11,080 72,636 9.159 3,621 4,041 240.889 3,475 9,524 8,749 3,036 14.964 10,025 96,084 68,136 11.545 6.637 1,022 310 Administrative Manse Insurance Manse occupation Manse Maintenance Grants and donations District Assessments District Levy on surplus funds Training and other Ministerial Stationing costs Gifts Total expendlture on charltable activities 419.409 419,413 474,396 Separate material item of expense Total Other Total other expenditure TOTAL EXPENDITURE 419,409 419,413 474,396 Page 16of28
Notes to the accounts {cont) Note 4 Note not in use Note 5 Funds received as agent The Circuit sometimes received income from Churches Within the CirGUit asking for the money to be passed on to either the central Methodist Connextional fund for propety or presbyters and deacons. Balance held at period end This Prior year Amount recefved Amount pald out This Prior year Descriptionlname of party Related This year Prior year year International Children's Trust Methodist Homes Association Connexional Pro Fund Connexional Presbyters and Deacons Fund World Mission JMA Other 552 1.830 28 1.392 552 Yes Yes Yes 5.639 28 25 110 60 667 3,272 25 75 60 533 6,360 Yes Yes No 170 170 100 99 802 1,812 795 965 Total 1,492 644 Note 6 Details of certain items of expenditure Fees for examinatlon of the accounts This year Prior year Independent examinerfs fees 1.740 1.680 Page 17 of28
Notes to the accounts (cont) Note 7 Paid employees Please complete thls note If the charity has any employees. staff Costs This year Prior year Salarles and wages Social securlty costs Apprentlceshlp Lovy Pension costs (Ministers defined contributlon scheme) Penslon costs (Layworker money purchase schemo) Total Staff costs 192,705 17,706 184,238 17.061 986 36.218 2,385 240,889 39,059 2,491 252.905 No employees received employee benefrts (excluding employer pension costs) for the reporting period of more than £60.000 Please provide tho totsl amount pald to key management personnel (includes trustees and senlor management) for their services to the charity Jill Marsh. Sheila Da%80n. Jane Braund, Doreen Koffee-williams and Stephen Willey are key management personel, trustees and employees. They are paid as Ministers of churches and not for their trustee dulles. The total amount paid for their Ministerial servi (induding slipend, allowances. employerfs Nl and pension) was £202.433. Average head count in the year The parts of the charlty In whlch the employees work This year Numb•r Prlor year Number Mlnlsters Mlnisterial la workers Admin lay workers Other Total Page 18of28
Notes to the accounts (cont) Note 8 Defined contribution pension scheme or defined benefit scheme accounted for as a defined contribution scheme. Amount of contributions recognlsed in the SOFA as an expense £39,059 Please explaln the basls for all0&ing the liability and expense of deflned contribution pension scheme between activlties and between restricted and unrestricted funds. Contribution towards pension costs of the Methodist Conference, who are the single employer. The charity participates in a d8fined benefrt pension plan but is unable to ascertain its share of the underlying assets and liabilities. Please confirm that although the scheme is accounted for as a defined contribution plan. it is a defined benefit plan. The Meth(xJist Ministers, Pension Scheme is a defined benefit scheme. Please provide such inforniation as is available about the plan's surplus or deficit and the implications, rf any, for the reportlng charity The scheme deficit is not allocated to individual Methodist Circuits. The Methodist Conference is responsible for the deficit (as the single employer). Page 19 of28
Notes to the accounts {cont) Note 9 Grants and Donations Analysis of grants and donations paid {included in cost of charitable activities) Grants to Grants to Support Institutions individuals costs Analysis Donation Total Arley Methodist Church Covent Central Hall Fillongley Methodist Church Total 755 10,000 325 755 10,000 325 11,080 11,080 Grants and donatlons made to institutions The charity has made grants to particular institutions that are material in the context of its grantmaking. Details of the institution supported. purpose of the grant and total paid to each instltution is listed below. Names of Instltutlon Purpose Total amount of grants paid £ Arley Methodist Church Community Outreach 755 Coventry Central Hall Building project fees 10,000 Fillongley Methodist Church Community Outreach 325 Total grants to institutions in reporting period Other unanalysed grants and donations TOTAL GRANTS AND DONATIONS PAID 11,080 11,080 Page 20 of 28
Notes to the accounts (cont) Note 10 Tangible fixed assets The Circuit owns fiva houseg (manses) that the Ministers ttse: Year purchased Insured value 2024125 Insured value 2023124 (£) 480,780 453,677 452,292 352.866 367,913 2.107,528 Property Slation Road Joanna Drive Pan ield Park ham Lane Hatters Court TOTAL Cost (£} (£) 614.796 580.135 578,364 451.224 466.715 2.691.234 1971 10.150 274,043 46,452 262.500 653.145 1g82 2018 Cost or valuation Fr•ehold land & buildlngs Otherlond & bylldlngs Plan4 machlnery ar Fixtures. flttlngs and •qulpm¥nt Totsl At the be Additlons Revaluations Disposals Transfers innin of the 653.145 653,145 Moved to current asset investment At end of the year 653,145 653,145 10.1 Depr•clation and Impaimients Manses have not been depreaated or impaired. 10.2 Net book value Fr••hold land & bulldln 653,145 Othgr land & bulldin Plan( machln•ry and motor vehkl8s Flxlures, fftttngs and ui mont Total Net book value at the beginnlng of the year 653,145 Net book value al the end of Ihe year 653,145 653,145 10.3 ChurGh Bulldlngs The ownership of the vast majority of Methodisl Church property rests the Trustees for Methodist Church Purposes {'the Board'j Trust Corporation constttuted by the Methodist Church Act 1939. Each Church is a charity in its own right 8nd as such can refiecl the asset on their balance shB6L Tho Clrcuit does not rocognise Church proparty on lis be18n sheeL If th8 TMCP Board pemiit the sale of a Church (for example due to dosure), a Connexional Priority levy i8 dedurted from all capiLql money arising from Ihe sale. The amount of levy deducted is nil the first £20.0(NJ. 20% on any ex$ over £20.000 up to £100.000 and 40Y) on any excess ovèr £100,000. The sale procÈeds after the Iwy has been deducted are provided to tha Cirrx4it, and Circuit Trustees (z4n deLxdc on how to best use the funds. Net sale proceeds {rf any) are included in the Circuit accounts as separate item of rterIal income. shown in note 2. Pa 21 of28
Notes to the accounts (cont) Note 11 Debtor5 and prepayments Analysis of debtors and prepayments Thls year Last year Assessments due from churches. but not received Ministers payroll pre-paid Other prepayments Total debtors 15.371 16,894 15.371 16.894 Note 12 Creditors and accruals Analysis of creditors Amounts falling due This year Last year Assessments r1Ved in advance Other creditors Agency funds held for others (to be paid out) 14,500 1,740 1,492 17,732 13,200 1.680 644 15,524 Page 22 of 28
Notes to the accounts (cont) Note 13 Funding Commitments The Circuit Meeting has agreed to some multi-year grants. Th8 grants will only be payable if the conditions attached are mat and are reviewed annually. Therefore. a liability has not been induded for future grants. Details of such grants are listed below. Commitmont mada rimo frame Condition Funded by Coventry C8ntral Hall - Building rovements upto 2025126 Building improvements ha en Model Trust Fund 216,976 upto 2024125 Model Trust Fund Woodside - Parish Nursin 15.926 Parish Nurse em upto 2026127 Community Davelopment worker em lo Model Trust Fund Nuneaton - Communi Develo ment 62.860 Note 14 in hand Cash at bank and This yaar Last year HSBC Bank CAF Bank Methodist Central Finance Board (CFB) Trustees for Methodist Church Purposes (TMCP) Paypal Total 13.606 61.947 462,042 268,974 20.926 54.427 513.867 259,860 24 849,104 806,569 Note 15 Instruments Financial Thls year Carrying amount of flnancial assets Debt instruments measurered at amortised cost Thls year 15,371 16,894 Carrying amount of financial Ilabilities Measured at amortised cost 17,732 15,524 Page 23 of 28
Notes to the acnts (cont) Note 16 Ghari funds Dots11$ of material funds ld and mov•rnnts durlng tho CURRENT reportlng perfod ' Kgy.. PE. pemjanent endowment funds.. EE. expend funds." R. restrictedincome funds, In¢ludlng sp•cial trusts, of thg charitr. D. d•sIgnat funds and U. unrestrl¢ted fiNKIs Fund balances Fund balanc Galns and losse5 Trnnsf8rs Fund narnes Genera General YAWn9 fvrvts ofthe Sub4otal 152.819 152,819 347.846 347.846 <357.2891 1357.289} 112,0001 {12.IX)01 131,376 131.376 A fvnd to help cover costs 01 rnSe Ihous81 repairs. Circuit modgl trust lund, for $P8eific projéctslstaffing that related to local missionmi Methodist mission. Manse Repair Fund 123.4161 12.OCKS 22.039 Model Tfust Fund 637. {Sg,0441 623,783 Wlll be used to supw)rt (x)sts incurred by LLKa PrhS Flxed assets Sub4ot Wamer memomal 24.71KJ 653.146 1.349.269 {6591 25,399 653.146 1.324.368 Circuit Model Tn 25218 (62.1201 iiooo WeattTrerall Bibles for Local &aCherS 1,531 1.531 1.503.619 83 141 (41 1419.4131 1,609 1,609 1A57,353 Sub4Otal Totsl Funds 373,147 Transfers between funds (2022123} From Fund General To Fund Manse Re Amount 12.(KK) Reason reed to £12 1)JO each for Manse re Dalalls of materlal funds held and mov¢Thnts duT¥ng thè PREVIOUS r¢portÈng p•riod - unrestrlcted funds Fund balanc•s Fund balants8 Galns and losses Typ. EXpdItra Fund namgs General General fvr¥ts IM CYrAMi Sub4¢ts1 180.418 180N18 321,847 321,847 1337.4461 1337A46) (12,0001 (12.0001 152.819 152.819 A fund to help ¢ov8r costs of m8ns& house) rèpairs. CircuFt modd trust fund. usèd for SP8etfic projÉctslsta1fg that is related to local missicrfwid Methodist mission. Will be used to 5LPlX)rt costs Mansa R8 ir Fund 29.681 8.225 12.000 33.456 Circuit Mtyjel Trust 755.242 10,752 {128.026} 637,968 Wamer memorial Circtsit Model Trust 24,601 653.146 1A62,670 792 (6941 24,700 653,146 1,349,209 Fixed assets SublltoLIl 11,545 {136,9461 12,QDO Weatherall bles for L(1 Preachets 1.487 141 1.531 p24Cl28
Notes to the accounts (cont) Note 17 Transactlon5 With trustees and related parties Trustee remuneration and benofits Some Trustees have been paid remuneration andlor received other benefits from an employment with the Circuit. Amounts pald or benefit value This L3[ authority (èg order. governlng document) Romun•ratioTr Pension contribution Name of trustee Redundaney (includlng loss of offlce)lex ratia Other Jill Marsh Goveming r)ocument Goveming Document Goveming Docutnent Governing Document Goveming Document 32.138 7,812 Sheila Dawson 29,234 7.812 Jana Br8und 29,234 7,812 Doreen Koffee-williams 29,234 7,812 Stephen Willey 29,234 7,812 Details of why remuneration or other employment benefits were paid". Ministers of religion remuneration Trustees. expenses Trustee exponsos have boen incurred as below Type of eXnSeS reimbursed This year Last year Travel 5.041 720 6.739 865 Ministers Telephone Othgr TOTAL 5,761 7,604 Please provlde the number of trustees reimbursed for expenses or who had expenses paid by the charlty 5 (5 last year) Trust8es wère re-imbursed for expenses. No Trustees were r&imbursed expenses for their Trustee role. Page 25 of 28
Note 17 Continued Transaction{s) with related parties ear Name of the trustee or related party Relationship to charlty Expenditure (£) Balance at pèriod end (£) DgserSption of the transaction(s) Income (£) Arley Methodist Church Common Trustees Grants made (755) Common Trustees Grants made (10.000) Covent Central Hall FiSlongley Methodist Church Circuit Churches (see note 2} Common Trustees Grants rnade (325) Assessments for the running of the circutt and wider Methodist Church Common Trustees Common Trustees (72,636) There was no provision for bad debts at the end of the period. No amounts were written off during the period. Last year Name of the trustee or related party Arl8y Methodist Church 323.118 Bimiingham District Assessment Relatlonship to charity Expenditure Balance at period end {£) Description of the transactlon(s> Income {£) (£) Grants made Trustees Common Trustees Common Trustees (500) Coven Central Hall Meriden Methodist Church Balsall Common Methodist Church Collycroft Methodist Church Grants made (82.500) Grants made {500) Common Trustees Common Trustees Grants made (500) Grants made (5.584) Ear5sdon Mathodist Church Fillongley Methodist Church Circuit Churches see note 2 Bimiingham District Grants made (4,000) Trustees Common Trustees Grants rnade (2.500) Convnon Trustees Convmon Trustees (68,246) There was no provision for bad debts at the end of the period. No amounts written off during the period. Assessments for the running of the circuit and wtder Methodist Church 282.813 Assessment Page 26 of 28
Independent Examin•fs report Report to the trustees of Coventry and Nuneaton Methodist Circuit On accounts for the year ended 31-Aufr24 Charity no: 1134347 Set out on pages Respectiva responsibilities of The chariws trustees regnSIble for th& pr@paration of the aceounls. The ehsrd¢8 trustees consider trustees and examinor that an audtl is not required for this year urmler section 144 of the Charities Act 2011 (Ihe Charities Act") and that an independent examination is needed. The charitys gross income exceed8d £250,000 and I am qualified to undertake the examinatts)n by b&"ng a qualified member of ICAEW. 11026 It is my responsibility to: examine the a(unts under secbon 145 of the Charities Act. to fdlN the pr(t6dures laid doMTr in the general DirecticS given by the Charsty Commission (under section 14515){b) of the Charits'es A(* and to state whether particular matters have come to my attention Basis of indèpèndent exarninef statement My examination was carried out in accordance with general Directions gtven by the Charity Commission. An examination includes a VIeW of the aCUnting records kept by the charity and a comparison of the accounts presented with those records. It also indudos consideration of any unusual ttems or disclt)sures in the accounts. and seekiThJ explanatiorts from the trustees conceming any such matters. The procÈdures undertaken do not provide all the event% that would be required in an audit, and (x)nsequently no opinion is given as to whether the accounts present a ttrue and fairf view and the report is limited to those matters set out in the ststement below. Your attention drawn to the fact that the chartty has prepared the financial statements in accordance with AcCJnting and Reporting by Charrlies preparing their accounts in accordance with tha Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) in preference to the Accounting and Rowrting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulabons but has now been wilhdrawrk. l understand that this has been done in order for the financial ststements to promde a true and fair view in accordance with Generalty Accepted A(t>Junting Practice effective for reporting periods beginning on or after 1 January 2015. Independerrt axaminer's statement In connectpjn with my examinatton. no material matters have cx)me to my attention (othgr than that disclos8d bdow) whith gives me cause to believe that in. any material respect: the accounting records were not kept in ac£ordance with section 130 of the Charities A¢t; or the accounts did not accord with the acGountin9 recx)rds," or the acc#)unts did rKIt compty with the applicable requirements conceming the form and wntent of aOUnts set out in the Charities {Accounts arnl ReF¥)rts) Regulations 2008 other than any requirement Ihat the a)unt5 gNe a Irue and fairf view 1¢h is not a matter considere(l as part of an Irependent examinalion. I have come across no other matters in connection wth t examination to whith attention should be drawn in this report in order to enabl pw urKlerstsrMJing of the accounts to be reached. Slgned: Date". Name". Robert Anderson FCA Rélavant professional qualification{s) or body {rf any): FCA Address: Azets Audit Services 3Mc Middlemarch Business Park. Siskin Drive, Baginton, Coventy. cv3 4FJ Page 27 of 28
endix A: Trustees Current Trustees: Name Rev Christine Crabtree (appointed 119120241 Alastair Mcculloch (appointed 11612024) Rev Jill Marsh (appoFnted IigJ2022) Joy Fine Michaela Allsopp Patricia Swift Judith Mudzamiri Kathleen Allton Perepetua Sakuringwa Name Mary Warr Kenneth Holmes Henning Kleine Marion Rixson Rosemary Clemo Dawn Maycock Tony Cashmore Doreen Hawthorne John Bennett rl Lynne Mckeown Irene Love Taedza Sigauke Karen Brooks BeverleyTaylor Rev Stephen Willey Gordon Hopkins Rev Doreen Koffie-williams Robert Bennett Tim Jefferies (appointed 119/2024) Pamela Reid Dumisani Moyo Ray Arnold Alison Lawn Deana Mawn Denise Huxley Christine Moore Brian Cartwright Richard Smith Val Gadsby Graham Hargreaves John Mcmahon William Holdforth Joyce Lea Sue Taylor Keith Drinkwater Vivien Kershaw Pam Hopkins {appointed 1112120241 The following served as trustees during the period but are no longer trustees at the date of approving the accounts: Thelma Moyo {resigned 3118/2024) Lois Talbot (resigned 31/8/2024) Trevor Gay (resigned 31/812024) Christopher Parnell {resigned 31/8/2024) Michael Hobbs (resigned 311812024) Andrew Pinks (resigned 31/8120241 Sheila Dawson (resigned 31/8/2024) Keith Aldridge (resigned 3/21251 Peter Dipple (resigned 31/8/2024) Gordon Smith {resigned 31/812024) Dora Cutter (resigned 311812024} Rev Jane Braund (resigned 31/8/2024) Heather Gill (resigned 3118/2024) Jean Marshall (resigned 3118/2024) Dorothy Holmes {resigned 31/8/2024) Page 28 of 28