Charlly reglstratlon numb8r 1134370 (England and Wales) ST ALBANS AND WELWYN METHODIST CIRCUIT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Faulkner House Victoria Street St Albans Hertfordshire AL13SE Rayner Essex LLP Chartered Accountants
ST ALBANS AND WELWYN METHODIST CIRCUIT LEGAL AND ADMINISTRATIVE INFORMATION Trustees Rev David Jebb Mr Stuart Johnson Mr lan Gilbert Mr David Carter Mr James Johnslone Mr John Robinson Ms Helen Jeckells Rev Rosemary Mulopo MT Addy Olubajo Ms Mary Bumside Ms Rosalind Hancock Rev Jervis Daniel Yovan Rev Nigel Perrott Mr Peter Holl Dr George Woods Or John Slertand Mr Eric Bridgstock Ms Valerie Parker Mr David Bowler Ms Pretty Nkiwane Rev David Mullins Ms Denise Willingham Mr Anthony Stubbs Rev John Churcher Ms Joanna Rose Mr Robert Ward Mr Carl Meredith Ms Hazel Laming Mr Bob Cameron Mr Tony Osller Mrs Ruth Wallace Rev Alan Combes CharSty règlslratlon England and Walès 1134370 Audltor Rayner Essex LLP Faulknef House wloria Streel Sl Ajbans Hertfordshire AL13SE
ST ALBANS AND WELWYN METHODIST CIRCUIT CONTENTS Page Trustees, report Independent audilorfs report Statement of financial activities Balance sheet 10 Notes lo the financial statements
ST ALBANS AND WELWYN METHODIST CIRCUIT TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The trustees present their annual report and financial statemenls for the year ended 31 August 2025. Introduction We are in the Beds, Essex and Herts Methodist Distn"ct which comprises 12 circuits in thoge 3 counties. Our circuil is called Sl. Albans and Welwyn and covers an area of mid-Hertfordshire, and has 8 churches.. Haffield Road and Marlborough Road in St. Albans". Oxlease in Hatheld. Digswell Village, Ludwick Way. Panshanger in the Welwyn Garder) City area.. and St John's Potters Bar and Radlett in the Hertsmere area. Shenley Methodist Church becawe a '¢lass' of St John's Potters Bar in 2022 and all financial and property matters have been managed by St John's since that lifne. Two of the circuit churches are part of ecumenical partnerships.. Radlett Iwith the United Reformed Church) and Panshanger Iwith the Church ol England. the United Reformed Church and Btplisl Church) The financi81 statements have been prepared in accordance with the accounting policies set out in nolo 1 to the financial statements and comply with the chartvs goveming document. the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in Ihe UK and Republi¢ of Ireland" and the Charities SORP "Accounting and Reporting by Charities". Slatement of Recommended Practice applicable lo charits'es preparing their accounls in accordan¢e wilh Ihe Financial Reporting Siandard applicable in the UK and Republic of Ireland IFRS 1021.. Airns and organisation The Mission of the St Alban5 and Welwyn orcuit is lo reveal the Kingdom ol God through the Methodist people and their ecummenical partners across Central Hertfordshire. We aim to do this through the Holy Spirit In the worship ol God, building UP the church. making disciples of Jesus Christ arbd transforming society by working for justice, peace and unity- Review of the year There were no changes during the year in the minislerial team of 3 Presbyters and 1 Deacon. A new appointment as Circuit Administrator was made in November 2024. This stability allowed churd)es to continue lo lo¢us on the development ol their vision and plans for growth in local settings. wtth some specific plans being progiessed lor property redeveloprnent and employment of lay OutaCh workers_ The circuit continued with its ongoing programme ol safeguarding training for all those individuals conlinuing or Starting in roles connected with children and vulnerable adults. Services of worship continue al all churches, with Birchwood Methodist Church having 'ceased to meet, on 3110812024. All property and assets of Bird)wood were transferred to ihe arcuit on 0110912024 and are reflected in these orcuit accounts. Income trends Over811 membership numbers continued lo reduce during the year. refleciTng some growih with new members but also an ageing profile among all chur¢hes. with some deaths and some moving away. This has affected the level of giving in local churches and all churches are significanlly Teliant on income generated from property letting to maintain their financial position. The church which had been given financial support through the reduction ol their asses5menl contn"butions in 2023124 returned to full payment. bul another church needed similar support In 20241 25. The letting ol the Allandale manse in Sl Abans was renewed once more tn Febmary and contsnues to provide additional income. The rental income from the letting of Birchwood Methodist cent was received into the circuit a¢¢ounts following the transfer of assets lo the circuit on 0110912024. Expènditure trends Stipends increase each financial year as direcled by Conference. The circuit contribution to District and Connexion lo tun(l the wider work of the Meihodisl Church was 16% 01 circuit expenditure. Expenditure on circuit propety increased with some works completed on outstanding items listed in Quinquennial Reports. and Ihe costs associated with Birchwood Methodisl Centre have been paid by the CiTcuiI following the transfer of assets on 0110912024.
ST ALBANS AND WELWYN METHODIST CIRCUIT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Resèrvès policy The Circuit policy is to hold a minimum of 6 months. average expenditure. lo meel unforeseen major expenditure on manses and to be able lo continue. in the short term, the ¢ir¢uil's planned aclivili¢s in the event ol shortfall the assessment from ¢hLJrches. As al 31 Augu512025 the net assets ol the Circuit, excluding property, represented approximately 4 months cover for budgeted expenditurè. Plans for 2025126 The 2025126 budget has bèen prepared once tnore on the basis of 3 presbyters, a deacon and a part-time administrator, with inflationary ¢osl increases. Assessments from churches will ¢ontinue the same as in 2024125, excepl lor a slight increase lor Radlett UFC and 8 slight decrease lor Ludwick Way. Circuit Mini5teTS and OffiGèrs The Iruslees who served during the year and up to the dale ol signatur8 of Ihe financial slalements were.. Rev Ddvid Jebb Mr Stuart Johnson Mr lan Gilbert Mr David Carter Mr James Johnslone Mr John Robinson M5 Helen Jeekells Rev Rosemary MLJtopo Mr Addy Olubajo M5 Mdry Burnside Ms Rosalind Hancock Rev Jervis Daniel Yovan Rev Nigel Perrott Mr Peler Holt Dr George Woods Or John Sterland Mr Eric 8ridgslo¢k Ms Valerie Parker Mr David Bowler Ms Pretty Nkiwane Rev David Mullins Ms Denise Willingham Mr Anthony Stubbs Rev John Churcher Ms Joanna Rose Mr Robert Ward Mr Carl Meredith Ms Hazel Laming Mr Bob Cameron Mr Tony Ostler Mrs Ruth Wallace RevAl8n Combes Aclivo Circuit Ministers Rev Ddvid Jebb Rev Rosemary Mulopo Rev Jervis Daniel Yovan Deacon Nigel Perrott CircL¢it Stewards Mr Stuart Johnson Ms Pretty Nkiwane Ms Valerie Parker Stuart Johnson acted as the principal officer overseeing the day lo day financial management and accounting for the circLJiI during the year. Statement of trustees. responslbilities The truslees are responsible for preparing the Trustees, Report and the finan¢ial statements in accordance with applicable law and Uniled Kingdom Accounting Siandards (United Kingdom Generally Accepted A¢counting Praclicel.
ST ALBANS AND WELWYN METHODIST CIRCUIT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The law applicable lo ¢haritie5 in England and Wales requires Ihe Iruslees to prepare financial sta(emenls lor each financial year which give a true and fair view of the stale of affaiTS ol the charity and of the incoming resources and application of resources of the Charity for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policie5 and ihen apply them consistently.. observe the methods and principlès in the Charities SORP., make judgements and estirnates Ihal are reasonable and prudenl: state whether applicable accounting slandards have been lollowed, subje¢t to any material dePartUS disclosed and explained in the financial ststements.. and prepare the financial stalements on the going concem basis unless it is inappropriate lo presume that the charity will continue in operation. The trustees arè responsible for keeping suffitienl accounting records thal disclose with reasonable accuracy at any lime the financial position of Ihe charily and enable them lo ensure that the financial st8lements comply with the Charities A¢t 2011, the Charity IAccoun15 and Reports) Regulation$ 2008 and the provisions ol the trust deed. They 8re also responsible for safeguarding the asse15 of the charity and hence lor taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Rayner Essex LLP were appointed as auditor to the company and a re501ution proposing Ihal they be re-appointed will be pul at a General Meeb"ng. Alms and organisatlon Charity objective is fo act as a resource prider within the area arottnd St Albans and Wewn for the Methodist Church. The purpose5 of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of.. al The Chrislian lailh in accordance wilh the doctrinal standards and discipline ol The Methodist Chur¢h,' bl Any charitable purpDse for the time being of any Connexional, Districl. Circuit. Ioc81 or oiher organisation of The Methodist Church., cl Any Gharilable purpose for the lime being of any society or institution subsidiary or ancillary to The Methodist Church". dl Any purpose lor Ihe lime being of afty charity being a charity subsidiary or ancillary to The methliSt Church The organisation and resourcing of Trgular public acts of wowship open lo members of the church and non members alike. The teaching of Chrislianity through semKJns, rseS and small groups. The resourang of pastoral work including visiting the sick and bereaved. Taking religioLSS assemblies in local schools. Promotion of Chrisb"anity through the staging of events and seTViCeS. Provision of chaplaincy seryi¢es to the local university and olhèr instilutions.
ST ALBANS AND WELWYN METHODIST CIRCUIT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Public Benefit The ciicuil ¢onfirrns that the cir¢uil members have had regard lo the Charity Commission's guidance on publi¢ benefit. The circuit provides public benefit through educational resources available lo both church members 2nd the goneral public, supporting circuit staff and churches in providing publi¢ worship and the promotion of charitable giving al both circuit and national level. Structure, Governance and Management The governing document for the circuit is the Deed of Union 119321 and Methodist Church Act 119781 Detailed governance arrangements are outlined within th& Constilulional Practice and Discipline of the Methodist Church by order ol the annual conference ICPDI. Day lo day management ol the circuit is undertaken by the Circuit Leddership team along with the Local Preachers ffleeting. Trustee Training A rdn9e ol guidance pioduGèd by Methodi51 Connexion to support the effective running of the circuit, specifically the leallel 'The Role ol a Trustee in The Melhodisl Church, is given lo all new Circuit meeting rnembers as induction lo their role as Irustees. Related Parties The Circuit is part ol the Bed5 Essex & Herts Oislricl and is also accountable lo the Methodist Conferen¢e. The following Methodist Churche5 are linked lo the circuit.. Marlborough Road, Haifield Road, Oxlease, Radletl United Free ChLJrch, Sl Johns Poller5 Bar, Ludwick Way, Digswell and Panshanger. There are no other specific organisalions wilh specific linkage. Risk Management The Circuit Leadership Tearn and other Circuit members raise any risks they have identified with the Circuit Superinlendenl and lor the Circuit meeting. Risks are miligaled where appropriate by trustee and property insurance. Income and Expenditure is monitored and is comp2red with the approved annual budget on a regular ba515 to identily trends and miligale any unlorseen call on ieserv&s. Safeguarding Every person has a value and dignity which comes directly from our creation in God's own image and likeness. Christians see this polen1121 as fulfilled by God's re-creation ol u5 in Christ. Among other things this implies a duty lo value all people as bå the irnage of God and therefore lo protect Ihern from harm. Melhodisl Connexional practice outlines commitment to the following principles.. the care and nurture ol, and respectful pastoral ministry 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 loving environment where there is informed vigilance as lo the dangers of abuse. We will carefully sele¢l and train all those with any responsibility within the Church, in line with Safer Recruitment prinGiple¥. inclLJding the use ul criminal records disclosures and regislralion with the relevant vetting and barring schemes. We will respond wilhoul delay lo every complaint made which sugges15 that an adult. child or young person may have been hdrmed, cooperating wilh the police and local authority in any investigdlion. We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pasloral care. le will seek to challenge any abuso of power. especially by anyone in a position ol trust.
ST ALBANS AND WELWYN METHODIST CIRCUIT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 We will seek to offer pastoral care and support. including supervFsion and referral lo the proper authorities. to any member ol our chur¢h comfnunity known lo have offended against a child, young person or vulnerable adull. In all these principles we will follow legislalion, gtjidance and recognised goo(J Pfactice The Sl Albans and Wehvyn Circuit commits itself to ensuring the implementstion of Connexional Safeguarding Policy., government legislation, guidance and safè praclice in the circuit and in the churches. The Sl Albans and Wewn Circuit commils itself lo the Pfovision of support, advice and training for lay and ordained peop5e and this objeclive is delivered through the appointment of a Circuit Safeguarding Officer supported by the District Safeguarding team and Saleguarding Officers al each ¢hurch. This will ensufe people are clear and Confident about their roles and responsibilities in safeguarding and promoling the welfare ol children and adults who may be vulnerable. The Iruslees. r rt was approve by the Board of Trustees. Rev D JeL)b Trustee Mr S F Johnson Trustee Dale..
ST ALBANS AND WELWYN METHODIST CIRCUIT INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST ALBANS AND WELWYN METHODIST CIRCUIT Opinio We have audiled the financial slalemenls DI Sl Albans and Welwyn Methodisl Circuit Ithe 'charily'l for the yoar ende(J 31 August 2025 which comprise the statement ol financial activities. the balance sheet and notes to the rin¢1ncial slalements, including Significant accounting policies. The financial reporting framework that has been applied In their preparation is appliGable law and United Kingdom Accountin9 Standards, including Financial Roporling Stzndard 102 The Financi¢?1 Reporting Slandard applicable in the UK and Republic of Irelancl (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial stalem8nls'. giv¢ a true and fair view ol Ihg slate ol the charity'5 affairs as al 31 August 2025 and ol ils incoffling resources and application ol resources, loi the year then ended., have been properly prepared in accordance with Unil6d Kingdom Generally Accepted Accounting Pra¢ti¢e', and have been prepared in accordance with the Charities Acl 2011. 8a515 for opSnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law, Our responsibilities under those standards arg further described in the Auditors responsibililies for the audit of Iho fin¢?ncial slaloinenls section ol our report. We are independent ol the charity in accordance with Ihe ethical requiremen15 that are relevant to our audil ol the financial slalemen15 in the UK, including the FRC'S Ethical Standard, and we have lullilled our other ethical re5ptsnsibililies in accordance with these requirements. We believe Ihal tho audit evidence we have oblainad is sullicienl and appropriate lo provide a basis lor our opinion. Conclusions rolatlng to golng concern In aLS(Jiiing th& financial statements, we have concluded that the Iruslees, use ol the golng concern basis of accounting in Ihe preparation ol the financial slalemenls is appropriate. Based on the work w8 have performed, we have not identified any malerial uncertainties relating lo evonls or condilitsns that, individually or collectively, may cast 5ignilicanl doubl on the Charity's abilily lo continue as a going onc&rii lor a pèriod ol al least Iwelve months from when the financial 51alements are aulhorised lor issu8. Our responsibilitigs and the responsibililitrs of Ihg trustees with respect lo going concern are doscribed in the relovanl sections of this report. Otlier information Tho ollier Information comprises the information inclLJded in Ihe annual report other than the financial slalemenls and our auditor's repori theron. The Iruslees are responsible lor the other information contained within the annual report. Our opinion on tho financial slatemenls doe5 not cover the Dlher information and we do not express any lor ol assLJfdnce conclusion Ihereon. Qur iespon51bilily 15 to read Ihe olher information and, in doing $0, consider whelher Ihe other information is mdlerially incon51slenl with the linancial sla18ments or our knowledge obtained in the course ol the audit. or tslhtrrwise appears lo be materially misstated. 11 wts identify such material incDnsislenGies or apparenl malerial misslalemenls, we are required lo determine whether this gives rise lo a ma19rial misslalemtrnt in the financial statements Ihemselves. 11. based on the work we have performed, we conclude that Ihere is a malerial Iniss131emenl ol this other information. we are required lo report that fact. Wo have nothing to report in this regard, Matters on which we are required to roport by exceptlon We have nolhing to report in respect of Ihe following matters in relation to which the Charities (Accounts and Reports) Regulalions 2008 requires us lo report lo you il, in our opinion.. the information given in the financial slalcments is inconsislenl in any materia1 respect with the Iruslees, report, or sufficient a¢counling record5 havè not been kept.. or Ihe financial slalemenls are ntsl in agreement with the accounting records., or we have not received all the Information and explanations we require lor our audit.
ST ALBANS AND WELWYN METHODIST CIRCUIT INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST ALBANS AND WELWYN METHODIST CIRCUIT Responsibilities of trustees As explained more fully in the stslemenl ol tnjstees. responsibilities. the twslees are responsible lor the preparation ol the financi815tatemenls and for being satisfied that they give a true and fair view. and for such internal conlrol as the trustees detem)ine Is necessary to enable Ihe preparation ol financial slaternenls Ihal are free from material misstalemenl. whether due to fravd or error_ In preparing the financial statements. the trustees are responsible for assessing the charity s abilily to continue as a going concem. disclosing. as applicable. matlers related lo going concern and using Ihe going concern basis ol accountin9 unless Ihe Irustees either intend to cease operalions. Of have no realislic alternative but to do so. Auditor's responsibilÉties for the audit af the financial statemènts We have been appointed as auditor under section 144 01 the Charities Acl 2011 and report in 8c¢ordance with the Act and relevant regulations made or having effect thender. Our objeclives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whelher due to fraud or error. and to Issue an auditorfs report that indudes our opinion. Reasonable assuran¢e is a high level ol assurance but is not a gLtaranlee thal an audit ¢onducted In accordance with ISAS IUKI will aayS detèct a matenal misstalemenl when it exists. Misstalements can arise from fraud or error and are considered rnatenal If. individually or in the aggregale. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. The extent lo which our procedu$ are cap8ble of detecting irregularities. including IraLid. is detailed below. The extent to which the audit wa5 considered capable of detecting irregularities including Iraud Our approach to identifying and assessing thè risk5 of malerial misstatemenl in respect of ITguIaTi1ie5. including fraud and non-compli8n¢e wilh laws and regulations, was as follows". the èngagement partner ensured Ihal the engagement team collectively had the appropriate ¢c>mpelence, capabilities and skills to identity or recognise non-complian¢e with applicable laiv5 and regulations." we identified the laws and regulations applicable lo the charity Ihrough discussions with managemenl and those tharged with govemance and from our knovAedge and experience of the charity sector they operate we focused on specific laws and regulations whrch we consided may have a direct material effect on the rinancial statements or the operations ol the charity, including the Companies Act 2006, the Charilies Act 2011, the Charity SORP. data protection. health and safely and GDPR regulations- we assessed the extent of compliance with the laws and regulations identified above Ihrough making enquiries with managemenl and those charged with governance.. and identified laws and regulations were communtcèled within Ihe audit leam regulaAy and the team remained alert to instances of non-compliance Ihroughout the audit. We assessed the susceptibility of the charity's financial statements lo material misstatefflent, including obtaining en understanding of how fraud mighi occur. by= making enquiries of managemenl and those charged wilh govemance as to where they considered there was susceptibility to fraud. their knowledge ol aclual. suspected and alleged fraud,. and considefing the intemal controls in place lo mibgale risks of fralbd and non<0mplian with laws and regulations. To address the risk of fraud through management bias and override of controls. we.. performed analyiical procedures to identify any unusual or unexpected relationships; tested journal entries to idenlity unusval transactions., assessed whether judgements and assumptions made in delerminin9 the accounling esltmates set out in note 2 were indicative ol potential bias.. and investigated the ralionale behind SnIfICant or unusual transactions.
ST ALBANS AND WELWYN METHODIST CIRCUIT INDEPENDENT AUDITOR'S REPORT ICONTINUEDI TO THE TRUSTEES OF ST ALBANS AND WELWYN METHODIST CIRCUIT In response to the risk ol irregularities and non-cornpli8nce with laws and regulations, we designed procedures whi¢h included, but were not limilgd to". 2greeing financial slaleTnenl disclosures to underlying supporting documtrntation: reading the minute5 of meetings ol those charged with governance., enquiring ol managemeril as 10 actual and potential litigation and clairns", and reviewing coirespondence with the Charity Commission. There are inherent limitations in our audit procedures described above. The more rernoved that laws and regulations are from financial transactions, the les5 likely il is that we would become aware of non-compliance. Audiling standards also limit the avdit procedures required lo i(Senlily non-compliance with laws and regulations to enquiry of Ihe directors and other management and the inspection of regulatory and legal correspondence, if any. Material miss12temenls that arise due to fraud can be harder to delect than those that arise from error as they may invglve deliberale concealment or collusion. A further de5Griplion of our responsibilities is available on the Financial Reporting Council's website al.. hllps'.11 wNw.frc.org.uklaudilorsresponsibilitie5. This des¢riplion forms part of our auditor's report. A further description ol our responsibilities is available on the Financial Reporting Council's website al.. hltps'.11 www.Irc.org.uklaudilorsresponsibililies. This descriplion forms part of our auditorfs report. Other matters Your attention is drawn lo the fact that the charity has prepared financial Statements in accordance with 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the FifjanGial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. la5 amended) in preference lo the Accounling and Reporting by Charilies.. Statement ol Recommended Pra¢ti¢e issued on 1 April 2005 which is referred lo in the exlanl regLJlations bul has now been withdrawn. This has been done in order for the financial slalements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice. Us6 ol OLTr report This report is made 501ely to the charity's trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audil work ha5 been undertaken 50 that we might stale to the charity s trustees those matters we are required to slate lo them in an auditor's report and lor no other purpos$. To the fullest extent permillcd by law, we do nol accepl or assume responsibility to anyone other than Ihts charity 2nd the charity s trustees as a body, lor our audit work, for this repori, or lor Ihe opinions we have formed. Lucy Kate Ghawss FCA Isenior Statutory Auditor) For and on behalf of Rayner Essex LLP. Statutory Auditor Chartered Accounlanls Faulkner House Vicloria Street Sl Alban5 Hertford5hire ALI 3SE Dale..
ST ALBANS AND WELWYN METHODIST CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted Restricted funds fund5 2025 2025 Totsl Unrestrbcted R¢stricted funds fvnds 2024 2024 Total 2025 2024 Notès Ineome and endowments from: Donations and legacies Charitable activilies Inveslrnents Other income 100 254,547 58.757 17,263 100 254.547 58,757 17.263 125 265,740 36.300 125 265.740 36,300 Total income 330.667 330.667 302,165 302,165 Expenditure on.. Charitable activitie5 394.057 489 394.546 303,453 303.453 Totsl expenditure 394,057 489 394,546 303.453 303,453 Net incomellexpenditurel before gains on investments 163.3901 {489) {63.8791 11,2881 11,2881 Net gains on investments 12 305,396 305.396 3,114 3,114 Net incomellexpenditure} and movèment in funds 242.006 14891 241.517 1.826 1.826 Reconciliation of funds.. Fund balances al 1 September 2024 4.746.389 489 4.746,878 4,744,563 489 4.745,052 Fund balances at 31 August 2025 4.988.395 4.988.395 4.746.389 489 4.746,878 The slalemenl of financial activities includès all gains and losses recognised in Ihe year. Ml income and expenditure derive from continuing aclivilies.
ST ALBANS AND WELWYN METHODIST CIRCUIT BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Notes Fixed a55ets Taiigiblc a55els Investment proparty Inveslmenls 14 3.600,000 1.325,000 60,580 3.755.781 862,416 61,987 16 4.985,580 4,680,184 Current ass•ts Debtor5 Cash al bank and in hand 17 18 14,060 101,691 13.763 104.521 115,751 118,284 Croditors: amounts falllng dutr withln ong y8ar 19 167,5601 141.5901 Not ¢urr¢nl assets 48,191 76,694 Total assgts less current Ilabllltles 5.033,771 4,756,878 Crodltors.. amounts falllng due after moro than one year 20 145,3761 110,0001 Net ass•l8 4,988,395 4.746,878 The funds of the charlly Re51ricled income lunds Unreslricled funds 21 22 489 4,746,389 4,988,395 4,988,395 4,746,878 The financial slalemenls we pprovèd by the tru eso Rev Trustee ebb Mr S F Johnson Trusteg 10-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poll¢les Charity information Sl Albans and Welwyn Melhodisl Circuil 15 an unincorpoTal$d charity. The re9islered office of the charily is Hatfield Road Melhodisl Church. 1338 Hatheld Road. S( Albans. AL14JX. 1.1 Ba$ls of pr*paratSon The financial slalemenls have been prepared in aeo)rdance with Ihe char¢lWs governing document, the Charities Act 2011. FRS 102 "The Financi81 Rèporting Stsndard applicable in the UK and Republic ol Irèland. and the Charities SORP "Accounting and Reporting by Charities.. Slalement of Recommended Pra¢lic9 applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK 8nd Republic of IrelarKI {FRS 1021". The charity is a Public Benefit Enlily as defined by FRS 102. The charity has taken advantage ol the provisions in the SORP for tharilies not lo prepare a slalement of cash flows. The financial statements are prepared in sterling, which is Ihe lundional currency ol the charily. Moneiary amounts in these financial stalem8nls are TOUre to the nèarest £. Th8 financial slalemgnls have been prepad under the hlsiori¢al eosl convention. The principal accounllng policies adopled are sel oul below. 1.2 Going conc8rn Al the lim8 ol approving the financial stalemgnls, Ihe Iruslees have a r8asonable expeclation that the charily has adequate resources lo continue in operalional exislence lor the foreseeablè future. Thus the Iruslees continue lo adopt Ihe going concem basis of a¢Un11ng in preparing Ihe financial stalemenls. 1.3 Charltablé funds The funds held constitul8-. General Funds held for any purpose ol the Circuit which are unreslricled. The Circuit Mod81 Trust Fund has wide purposes dèfined In Slanding Orders and is c81e9orised as unr8slricled. Designated funds, held al the Circuit's discretion but designated for specific purposes. Restricted lunds may be held IDr a narrower purpose. Details of each malerial fund are disdosed in Ihe noles lo these accounts. 1.4 Income Income is included in the Statement ol Finanaal Aclivilies ISOFAI when the Circuit becomes enlilled lo the resourcès, the trustees are reasonably certain they will receive the resources and lh8 rnonelary value can be measured with suffi¢ienl ieliability. 1.5 Resources expendèd Expenses are recognised when a liability is incurred, or a eonslruclive obligation arises, that results in the payment being unavoidable. Liabilities are iecognised as soon as an outnow of resources is considered more likely than not under a legal or consifuclive obligation. 1.6 Tanglble fixed assots Tangible fixed asse15 are initially measured al cost and subsequently measureil al cost or valuation, nel of depreciation and any impairment losses. Freehold land and building5 No deprecialion The gain Of loss arising on the tlisposal of an assel is detem)ined as Ihe difference between the sale proceeds and the carryin9 value ol Ihe asset, and is recogni5ed in the slalement of financial a¢ttvities.
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policSès (Continued) 1.7 Investment property Investment property. which is property held lo earn rentals andlor for capital appreciation. is initially recognised al cost, which includes the purchase cosl and any directly attributable expenditLJre. Subseouently il is measured at lair value al the reporting end dale. The surplus or deficit on rèvaluation is recognised within the Slalemenl ol Financial Aclivilies. 1.8 Fixed asset Investments Fixed assel investments are initially measured at transaction price excluding transaction costs, and are subsequently measured al lair value at each reporiing date. Changes in fair value are recognised in nel incomellexpenditurel lor the year. Transacliori costs Jre Èxpensed as incurred. 1.9 Impairment of frxed assets Al e2ch r8POrting end dale. the charity reviews the carrying amounts of ils tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. 11 any such In(Jicalion ex151s. the recoverable amount ol the asset is estirnaled In order lo determine the extent ol the Impairmenl loss Ill any). 1.10 Cash and cash equivalents Cash and cash equivalents inGlude cash in hand, deposits held al call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank Dverdralls are shown within borrowings in current liabilities. 1.11 Financial instruments The charily has elected lo apply the provisions of Section 11 'BasiG Financial Inslrumenls, and Section 12 'Other Financial Inslruments Issues. of FRS 102 to all ol ils financial Instruments. Finan¢ial instruments are re¢ogftised in the charity's balance Sheet when the charity be¢omes party lo the contia¢lual provisions ol the instrument. Financial assels and liabililies are offsel, with the nel amounts presented in the financial slalements, when there is a legally enforceable right to sel off the recognised amounts and there is an intenlion lo settle on a nel basis or lo r&alise the asset and sellle the liability simultaneously. Basic financial assèts Basic financial assets, which include debtors and cash and bank balances, are initially measured 8t Irafjsaclion price including tranSaGlion costs and are subsequently carriéd al amortlsed cost using the effèctive intore51 method unless the arrangement constitutes a financing transaction. where the transaction is measured al the present value ol the future receipts discounted al a market rale of inlere5l. Financial assets classified as receivable within one year are not amortised. Basti¢ financial liabiltilies Basic Iinancial liabililics. including creditors and bank loan5 are initially recognised at transaction price unless Ihe arrangetnent constilules a financing transaction. Ivhere the debt instrument is measured at the pr8senl value ol the lulure paymen15 discounted al a markat rate of interest. Financial liabilities classified as payable within one year are not iimorlised. Debt Instruments are subsequently carried at amortised cost, using the effective interest rale fflelhod. Trade creditors are obligations Its pay for goods or services that have been acquired in the ordinary ¢our5e of operations Irom suppliers. Amounls payable are classified as current liabilities il payment is due within one year or less. 11 not, they are presented as non-currenl liabilities. Tradè creditors are recogoised initially at Iiansaction prico and subsequently mea5urod at amortised cost using the effective interest method. 12-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng poll¢lès (Continued) Derecognltlon of finan¢l81 Ilabilllles Financial liabilities are derecognised when the charfly's conlraclual obligations expire or are discharged or cancelled. 1.12 Employee benefit$ The ¢osl ol any unused holiday enllllemenl is recognised In the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably commilled to terminate Ihe employment ol an employee or lo provide terminalion benef11s. Crltlcal accounting •$tlmates and ludgèment$ In tha application of the eharily s accounting polieies, the trustees are requirèd lo make judgernents, eslimales and assumptions Bboul the Carrying 8mount of assets and liabili11gS that ar8 nol readily apparent from other sources. The estimates and associated assumptions are based on hislorical experience and other laclors Ihal are considered lo be reltsvanl. Aclu81 rèsults may differ from these eslim81es. The estimates and underlying a8sumption5 are reviewed on an ongoing basis. Revisions lo accounting eslimales are re¢ognised In the period in which the e51imale Is revised where the revislon affects only that period. or in the period ol the revision and lulure periods where the revision affects bolh current and lulure periods. Property valuatlons The company values property, both fixed assets and investment property al lair value. Therefore a key source of estim81ion and judgement, however reli8nce is placed on using exlernal qualified expert valuers. In¢omg from donatlon$ and lègaclès Unr981rlcted Unrestrieled funds funds 202S 2024 Donations and gifts 100 125 13-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 Income from charitable activities Unrestrlctfrd funds 2025 Unrtrstricted funds 2024 Asse55mentS Marlborough Road St Albans Hatfield Road Sl Albans Radleti Sl John's Pollers Bar Birchwood Ludwick Way Welwyn Garden City Oxleasè Hatfield Digswell Village Panshanger ILEPI 69,000 58,500 16,800 58,500 74,000 52,800 16,000 65,400 3,240 19,200 14,C>OO 20.400 700 12,400 15,997 22.600 750 254,547 265,740 Income from investmènts Unrestricted Unrestrieted funds funds 2025 2024 Rental income- Birchwood Melhodisl Centre Rental income- Allandale CFB lunds Interest receiavble 18,325 34.200 2.062 4,170 28.714 2.672 4,914 58.757 36,300 other income Unrestricted Unrestricted funds funds 2025 2024 Birchwood account balanG8s Birchwood gift aid 17.008 255 17,263 14-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expenditure on charitsble activities Unreslri¢ted Unrestricted fund5 funds 2025 2024 Direct ¢osts Staff costs District assessment Telephone & travel Insurance & ulililies Mainten8nce Dn manses Other 8xpendilure Contributions lo district advance fund Expenditure on olher circuit property 177,688 60.728 9.844 23.144 17,533 25.570 1,854 13.965 173,763 56,756 13,505 19,526 13,842 16.617 1,744 330.326 295,753 Grant funding ol acllvities (see note 81 64,220 7,700 394,546 303,453 Analy51$ by fund Unrestricted funds Roslricled funds 394,057 489 303,453 394,546 303,453 Grants payable Unr•strlctèd Unreslricled funds funds 2025 2024 Grants lo inslilutions.. Sl John's Pollers Bar Melhodisl Church Marfborough Road Methodist Church Hatfield Road Methodist Church Ox1ease Melhodisl Church Ludwick Way Melhodlsl ChLJrch 44,220 2D,000 11,3001 7.000 2,000 64,220 7,700 Net movement In funds 2025 2024 The nel movement in funds is staled after chargingllcreditingl-. Fees payable lor the audit ol the charity's financial siatemenls 8,400 6.000 15-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 10 Trust8es None of the trustees lor any persons connected with them) received any remuneration during the year12024'. 1 Irustee received remuneration of £10,609). 11 Employee5 The average monlhly number of employees during Ihe year was.. 2025 Number 2024 Number Employment costs 2025 2024 Wages and salaries 177,688 173.763 Certain fflinislerial staff serving the Circuit are employed under contracts held by the Melhodisl Church. The associated employfflenl costs are recharged lo the Cir¢uit and Ihe ministers are included within the employee numbers reported in these acwunls. There were no employees whose annual remuneration was more than £60,000. 12 Gains and1055es on Investments Unrestricted Unrestricted funds funds 2025 2024 Gainslllosse51 arising on.. Revaluation ol properties Translei of investmenl properties Gain or loss on investment asset 1118,1971 425,000 11.4071 3.114 305.396 3.114 13 Taxation The charity is exempl from taxation on its activities because all Ils income is applied for charitable purposes. 16-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 14 Tangible fixed assets 41 Cubitt$ Close Gainsborough Avenue 16 67 Bakor 8 Chlpmunk street Chase Total Cost Al 1 Septembgr 2024 Revaluation 681.390 1,230,570 1,124.802 43.610 130.5701 1124.8021 719,019 3.755.781 144,0191 1155,7811 AI 31 Au9usI 2025 725.000 1.200,000 1,000,000 675,000 3,600.000 Carrylng amount Al 31 AugLJsI 2025 725,000 1,200.000 1,000,000 675.000 3.600,000 Al 31 August 2024 681,390 1,230.570 1,124,802 719.019 3.755,781 Lond and buildings comprls8s of 4 manses held by th& clrcuil. The fair value of the land and buildings has betsn arrived al on the basis ol a valuation carried out by Rumball Sedgwick, who are not connected with the charity. The valuallons were made on an open market vAlue basis by reference lo market evidence ol transaction prices for similar properties. Based on the earliest avallable property record5 accesslble lo the Trustees, dating from 2014, Ihe historical cosl ol the land and buildings is eslimal&d al £2.3m, using Ihe property value al that dale as the closest availabl¢ approximation to orlglnal cost. 15 Invèstment property 9 Allandale Blrchwood Methodist Contro Total Falr value Al 1 Seplembgr 2024 Transfers Nel gains or losses Ihrough lair value adjustments 862,416 862.416 425,000 37,584 425,000 37,584 At 31 August 2025 900.000 425,000 1.325,000
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 15 Investment property Icontlnuedl Investment properties comprises of 2 properties held by the circuit. During the year ended 31 August 2023, 9 Allandaltr, previously used as a Manse, was renovated and then let as an investment properly from February 2024. The transfer from land and buildings was made 81 market value of £848,000. During the year, following the closure of one ol Ihe churches, the related property was transferred into the ownership of the Circuit al no consideration. The property is now held as an investment property and is leased. with rental income recognised in the Slalemenl of Financial Activities in the period. The fair value ol the investment properties has been arrived al Dn the basis of a valuation carried OLJt by Rurnball Sedgwick and Peter Hill Chartered Surveyors. who are not connected with the chaiily. The valuation5 were made on an open market value basis by reference to market evidence of Iransaclion prices lor similar properties. 16 Fixed asset investments Unlisted investmen15 Cost or valuation Al 1 September 2024 Valuation changes 61,987 11,4071 Al 31 August 2025 60,580 Carrying amount Al 31 Augu512025 60.580 At 31 August 2024 61,987 The above relates lo an investment 0135.180 Ljnils al market value in the Central Finance Board Fixed Inlerost Fund. 17 Debtors 2025 2024 Amounts falling due within one year.. Prepaid stipends Levy 14,007 53 13.763 14,060 13,763 18-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Bank 2025 2024 Trustees lor Methodist Church Purposes Deposits Circuit CF8 Balance Birchwood CF8 Balance CAF Account Balancè Birchwood Natwesl 88lan¢e 12,607 65,768 9.834 5.875 7,607 12,156 81,562 10,803 101,691 104,521 19 Credltors.. amount$ falllng due wlthln one y•ar 2025 2024 Assessmen1$ in advance Grants accrued Other accrua15 18.933 38.844 9,783 18.933 15.000 7.657 67.560 41.590 20 Credltors: amounts falllng due after more than one year 2025 2024 Accrued Granls- MRMCIHRMC S81isbury Village Mission Aecrued Gfanls - SJPB Outreach Worker 10.000 35,376 10,000 4S,376 10,000 21 R•slrlct¢d lunds The restricted lunds of the charity compris6 the unexpended balances ol donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At1 September 2024 Rèsources At 31 August expended 2025 In memory of H Roberts 489 14891 19-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 21 Restrlcted funds (Continued) PrevSous year: At1 Septemb*r 2023 Re50urce$ Al 31 August •xpended 2024 In mèmory of H Roberts 489 489 The reslrlcled fund is lo be used for the LudwSck Way Mglhodist Church if appropri818. 22 Unrestrl¢ted fund$ The unr8stricled funds DI the charity comprise the unexpended balances of donations and grants that are not subject lo specific donor.imposed conditions, log81hgr with property and other assets held wilhln the Ljnreslricled funds. Certain assels may nevertheless be subject lo reslri¢lions on their use or disposal arising from the charity's governing document or other legal arrangements. Incomlng Resources rosourcos expend•d Transfers Galns and At 31 August losstrs 202$ Soptemb•r 2024 General fund Circuit model Irusl fund 4,734,233 330.134 1391,9621 12,0131 305.396 4,975,788 12,156 533 12,0951 2.013 12,607 4,746,389 330,667 1394,0571 305,396 4,988,395 Prgvlous yoar.. A11 September 2023 Incomlng re$ources Resources expended Transfers Galn8 and At 31 August losses 2024 Genereal fund Circuit model Irusl fund 4,733,689 301,614 1301,5111 12,6731 3,114 4,734,233 10,874 551 11,9421 2.673 12.156 4.744,563 302,165 1303,4531 3,114 4,746,389 20-
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 Unrestrlct$d funds IContinuÈdl Included within unrestricted funds are land and buildings Imansesl of £3.6m. 35 well a5 investment property ol £1.3m, which are included in the balance sheel al their mosl recent professional valuation. Based on the earliest available property records accessible to the Trustees, dating from 2014. the historic cost of the land and bLtildings is eslimaled at £2.3m, using the property value al Ihal dale as the closest available approximation lo original c051. This èslimale is provide(J lor disdosufe purpose5 only, as lull historic cost Inlomialion is nol available. The difference beeen hisloric cosl and valuation is approximately £1.3m and this is retlecled within unreslricled funds. 11 a property was sold a significant part of the proceeds may have to be paid to other bodies within the wider Methodist Chureh. 23 Analysis of net assets botween funds Unr•strlcted tund$ 2025 R•strlcted funds 2025 Total 2025 At 31 August 2025: Tangible assets Investment properlie$ Investments Current asselsllliabilities) Long term liabilities 3.600.000 1.325.000 60.S80 48.191 145.3761 3,600,000 1.325,000 60,580 48,191 145,3761 4,988.395 4,988.395 Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 31 August 2024.. Tangible assets Inveslment properties Inveslmenls Current assetsllliabilit4esl Long lemi liabilities 3.755,781 862,416 61.987 76,205 110.0001 3,755,781 862.416 61.987 76.694 110,0001 489 4,746.389 489 4.746,878 24 Capital commitments Al the year end, ihe charity was commiited to provide a bridging loan of £33.000 to support the development of a soft play facility at Malborough Road Methodist Church. At the dale of approval of these financial statements, the loan had not yel been advanced.. 21
ST ALBANS AND WELWYN METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 25 Rglated party transactlons During the year the circuit paid Haffield Road Methodist ChurGh £1,20012024.' £1.2001 for the use of an office as reflacled in oth8r expenditure. 22-