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2025-08-31-accounts

Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

The Methodist Church Annual Trustees Report for Forest Methodist Circuit For the Year ended 31[st] August 2025 Forest Circuit Circuit No . 35/33

Registered Charity Registration Number 1134384

Circuit Superintendent Minister The Revd Michael Long and Chair of Trustees Circuit Ministers Revd Sue Creighton Revd Stephanie Njeru Revd Kong Ching Hii Revd Armstrong Fummey Circuit Stewards: Florestine Corbett Eric Aidoo Circuit Meeting Secretary Dallion Roye Circuit Finance Group Hannah Roberts Circuit Finance Group Martin Howarth Circuit Finance Group Graham Burgess

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

Report Content

1 Reference and Administration Details
2 Objectives and Activities
3 Review ofprogress and Achievements in theyear
4 Financial Review
5 Reserves Policy
6 Structure,Governance and Management
7 Related Parties
8 Public Beneft Requirement
9 Trustee Responsibilities
10 Risk Management
11 Report Approval and signature

Attachments

12 Standard form of Accounts for theyear and accompanyingnotes
-
Statement of Financial Activities
-
Balance sheet
-
Statement of cash fows
-
Notes to the accounts
-
Declarations and Scrutiny

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

1. Reference and Administration Details

1.5. Auditors

Clay Ratnage Strevens & Hills were re-appointed as auditors at the Circuit Meeting in September 2025. They have been auditors for the Forest Circuit for 15 years, however a different partner of the firm now has responsibility for the Forest Circuit Audit.

The Forest Circuit Trustees that served during the year are listed below:

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

Trustees of the Circuit Date Retired
as Trustee		 Appointed since
1 September 2025
Revd Oseias da Silva 31/07/25
Revd Sue Creighton
Revd Michael Long
Revd Stephanie Njeru
Revd KongChingHii 01/09/25
Revd Jongikaya Zihle 31/07/25
Revd ArmstrongFummey
Dallion Roye
Florestine Corbett
Janet Tweedale
Graham Burgess
GaryIan Marshall
Martin Howarth
Sharon Heather
Stephen Murray
Loyl Marcia Brandt
Elvena Bernita Brumant
Leslie Stowe
Pat Evans
Hannah Roberts
Carole Merriman
Jean Norton
Hazel Mathews
Pat Ovenden
Kathleen Poole
Andronica Mugombe
Phyllis Lloyd
Millicent Freeman
Jojo N Monney
Eunice Edwards
Stella Heskey
Eric Aidoo

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

2. Objectives and Activities

2.1. Aims and organisation

The aims of the Circuit meeting through its officers are to:

2.2. The Forest Circuit Vision

The Circuit's current mission statement is "The Forest Circuit is committed to further God's Kingdom by enabling and supporting the local churches in the growth of their discipleship and mission; resourcing local churches under the power of the Holy Spirit to function as effective worship, witness and community wellbeing and seeking new development in mission between and beyond the existing churches".

The circuit achieves this by holding the following values in all its dealings with individuals, communities, local and national authorities, other charities and businesses.

The Vision, its wording and Implementation shall be reviewed annually. It provides for the:

2.3. Circuit Goals

The principal purpose of the circuit is to act as a supporting body between Churches and the District and Connexion. The circuit does not seek and in large measure, does not attain direct contact with the public. The direct contact is by the Churches. It is these that the circuit supports in their desire to provide benefit to the public

2.4. Circuit Priorities for 2025 - 2028

The Circuit Leadership Team (CLT) reviewed the Circuit Mission strategy in the year and recommended the following short-term priorities for 2025 to 2028 to the Circuit Meeting.

1. Communications : To develop a circuit communications strategy/network, to promote a greater sense of circuit identity, better sharing of information, ideas and resources between churches; and enable better sharing of circuit decisions and activities across the churches

2. Debden Trinity: To develop the church’s outreach in ways that ensure the long-term viability of the church, clarify its role and mission in the community, and enable a property strategy.

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

3. Youth / young adults: Supporting and developing faith and social networks among children and young adults .

4. Social events: Promote greater sense of circuit identity, fellowship and learning

5. Explore Wanstead and N Chingford usage: To explore the possibilities for mission at North Chingford and Wanstead using the existing premises.

3. Review of Progress and Achievements

3.1. Forest Circuit Annual Report

Stationing: Sad farewells were said to Revd. Oseias De Silva who left the Circuit in July 2025 to join a new Circuit in Cornwall. Revd. Stephanie Njeru was re-invited for a further 2 years to July 2027. Revd Armstrong Fummey’s pastoral oversight for South Chingford was extended to Aug 2026. The Circuit welcomed Revd Kong Ching Hii into the Circuit in September 2025.

The Circuit Mission and Strategy were reviewed and priorities agreed for the period 2025-2028. These priorities are documented in the Section 2.4 above.

David Bishop, the new Operations Manager, joined the Circuit in Dec 2024. His initial focus has been on the management of the Circuit managed properties, considering their viability, addressing outstanding recommendations from the quinquennial inspection reports, but in line with strategy priority point 5 exploring the use of the two Church buildings now closed for methodist worship, Wanstead & North Chingford.

The use of the North Chingford Church building as an Emergency Night Shelter was explored with Forest Churches Emergency Night Shelter (FCENS). Some community concerns were raised, an open day was held, followed by a request for expressions of interest (EOI) to be submitted to the Circuit by 31[st] August 2025.

The Circuit’s residential property at The Ridgeway was renovated to the required regulation and standards for rental. Then the house was let through the Circuit’s agent from November 2024.

In addition to ongoing outstanding manse maintenance, work was also required to prepare a manse for the new minister joining the Circuit in September 2025.

Considering the strategy priorities and increased property and financial burden on the Circuit, consideration was given to employing a Communications Officer and a Finance Officer, to be managed by the Operations Manager.

A revised Memorandum of Understanding from the Trinity Focus Group proposed that the Circuit Meeting become Trustees of the Debden Church, rather than Loughton Methodist church. This was agreed by the Circuit Meeting and Loughton Methodist Church Council and is effective from September 2025

A discussion was initiated in July 2025 around a proposal to join the Forest Circuit with the Newham Circuit. This is to be explored further in the 2025-2026 connexional year.

3.2. Future Plans

Following the three-month consultation period on the future for the North Chingford church building, many Expressions of Interest (EOI) were received. Some based on lease of part of the property and a few proposing purchase of the property. After considerable evaluation in October 2025, the CLT recommended that the building should be sold, ideally to a Christian congregation from one of the other denominations. The EOI documents and the CLT

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

recommendation were circulated to the Circuit Meeting. The Circuit Meeting in December 2025 agreed to the CLT’s recommendation to sell the North Chingford Methodist church building. This will be progressed in 2026.

Bradley McWhinney was employed in November 2025 as the Circuit Communications officer, his focus initially being to review and enhance the Circuit Webb site. Valerie Rogers has been employed from February 2026 as a Finance Officer.

The cost of lay staff for five years is designated from capital reserves, this is further supported by a grant towards the cost of the latter two employees from the District for three years.

16 young people from the Circuit were booked to attend the Re-Gen weekend in October 2025.

The proposal to join the Forest Circuit with the Newham Circuit is to be explored further with a meeting of both leadership teams facilitated by the District Leaning Network.

4. Financial Review

Total Income in the year was £409,947 (23-24 £360,435). The General fund income was £291,950 (23-24 £299,193) of which £271,770 (23-24 £266,290) was due from church assessments. Investment properties income was £94,836 (23-24 £31,772). Total Interest received was £43,341 (23-24 £59,331). Most churches were able to pay the year's assessment on time and outstanding assessments relating to the year were paid within the first quarter of 25-26. In addition, the longerterm outstanding debt from churches was reduced from £54,257 to £46,951.

The total expenditure in the year was £605,033, (yr 23-24 £580,184). The General fund expenditure was £364,119 (yr 23-24 £337,471) giving an increased net deficit for the fund of £72,169, (yr 23-24 £38,278). This general fund deficit was not unexpected. The budget for the year had included a subsidy from reserves to reduce the total assessments requested of churches.

Manse repairs and maintenance from the General Fund were greater than last year £58,512 (yr 2324 £22,322). Repairs and maintenance to the Circuit Investment property managed by the Circuit were less than last year £34,502 (yr 23-24 £46,295). Other property costs relating to the investment property were reduced £21,744 (yr 23-24 £34,608).

Grants were agreed in the year: to Leytonstone £40,000 from the John Millar Fund towards their kitchen refurbishment project and to Shern Hall £17,872 towards replacement windows project.

The detail of all spend on Repairs and maintenance has been reported to the Circuit Meeting.

The main area of overspend in the General Fund is on Repairs & Maintenance on the manses: Vicarage Road £11,625; Brook Road £18,249; The Risings £25,417; Chester Road £3,174. The works not envisaged when the budget was prepared include: external garden paving at Vicarage Road and Brook Road and repair and renovations required at The Risings.

The areas under budget in 24-25 are: Removal costs (£2,880 vs £11,600 budgeted) and Ministers Travel £2,752 vs £4,545 budgeted. This does not include lay staff travel, which is included in the lay staff fund.

The Circuit has insufficient regular income to cover the cost of additional Lay staff. Significantly Increasing the Income from Assessments is not possible at this time. Under Standing order 917, Model Trust Funds can be used to support personnel serving in the circuit. Employment is a commitment therefore funds need to be set aside to cover this cost for a reasonable length of time. During the year the property officer left the employ of the Circuit and the opportunity was taken to restructure the role to be an Operations Manager. This new role was filled in December 2024,

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

therefore a further £158,000 was allocated to the lay fund to ensure such funds will be available to pay lay employed staff salaries, expenses etc. till approximately 2029. £98,235 was used from this fund in the year.

The overall deficit is £194,887 across the cash funds, excluding the restricted benevolent fund. This is made up of a deficit in the following funds: General Fund £72,169, Reserves fund of £23,074, John Millar fund £40,000, Lay staff fund of £98,234, North Chingford fund of £12,658. The following investment funds have a surplus: Hollywood Way £25,000, The Ridgeway £23,848, Wanstead fund £2,402. The surplus funds have been used to reduce the funds in deficit (see the transfers column in the list of 24-25 funds at the bottom of the balance sheet)

5. Reserves Policy and Level

5.1. Reserves Policy

The Circuit should maintain a current assets operating reserve approximately equal to six months of annual expenditure in order to allow for any urgent work to its Manses and pay ministers stipends, should Circuit income be impacted. A commitment has also been made from Capital Reserves to pay the salary and expenses of two lay workers for the Circuit till approximately 2029. This is shown in a separate designated fund.

The Forest Circuit is required to provide a manse for each minister stationed in the Circuit as a base for work as well as home. Such manses satisfy the accommodation guidelines in CPD Book VII Part 2. The value of these properties are shown as fixed assets in a designated fund. The Circuit has also taken responsibility for the buildings of Wanstead Methodist Church and North Chingford Methodist church. In December 2025, the Circuit Meeting made the decision to sell the church building at North Chingford. This will provide further reserves to support the Forest Circuit mission strategy.

5.2. Explanation and reserves level

Fixed Assets: (Designated) The Circuit currently has six residential properties. Four of the properties are used as manses for ministers stationed in the Circuit. Two residential properties are let, providing an income towards Circuit expenses. The Total value of the residential properties used as manses is £3,295,000. The value of the properties being let is £1,475,000. The church buildings of Wanstead Methodist Church, and North Chingford are valued at £5,571,250, based on 2020 valuation.

Current Assets: The Circuit net unrestricted current assets amount to £853,343. This includes: £54,257 of debts due from Circuits which are being paid off over a number of years; £399,749 designated to pay the salary & expenses of lay pastoral workers till approximately 2029; and a legacy of £117,552 designated for mission grants. This leaves £280,399 remaining reserves currently unallocated. This is equivalent to just under 6-months expenditure.

The Circuit has made the decision to sell the church building at North Chingford in 2025-2026. 60 percent of the proceeds of sale should come to the Forest Circuit and 40 percent to the Connexional Priority Fund.

Restricted fund

The Circuit’s Benevolent find is the only restricted fund at the end of the year.

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

6. Structure, governance and Management

6.1. Structure

Forest Circuit is an unincorporated association and is governed by the Methodist Church Act 1976, the deed of Union and the Model Trust Deeds of the Methodist Church. It is a charity, registered with the Charity Commission on the 18[th] February 2010. It is part of the London District of the Methodist Church. Overall regulatory authority rests with the Methodist Conference. There are nine local churches in the Forest Circuit.

Circuits are the coordinating charities for local groups of churches. Circuits pay the stipends of the ministers and circuit employed lay staff to serve the churches in the circuit. Decisions are made at or ratified by the Circuit Meetings. A District is the coordinating charity for a group of contiguous circuits and makes its decisions at half yearly synods.

Overall regulatory authority rests with the Methodist Conference. The Connexional office implements decisions made by Conference and is also responsible for the stationing of presbyters and deacons (collectively known as ministers) in individual Circuits within the District.

Connexional decisions are passed to the Chair of the Districts and the appropriate officers of the District for implementation.

The District delegates authority to the Circuit Meeting for local implementation by the Superintendent Minister, Ministerial staff and Circuit Stewards.

The Circuit Meeting passes regulatory control down to Church Councils for local implementation by the presbyter, the Church Stewards, and other officers, and this regulatory authority is then exercised by church councils as Managing Trustees of their charity.

6.2. Purpose of the Circuit

The Circuit is an expression, over a lesser geographical area than a District, of the Connexional character of the Methodist Church. The purposes of the Methodist church are and shall be deemed to have been since the date of the union the advancement of:

The District serves the local churches and Circuits and the Conference in the support, development and oversight of the various ministries of the church, and in programmes of training.

6.3. Governance

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

The Forest Circuit operates within a statutory framework of regulation and seeks to ensure that it follows Methodist Standing Orders. It relies on the London District, the Connexional Office and the Charity Commission to provide guidance on changes that could affect the Forest Circuit.

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by the order of the annual conference (CPD)

The Circuit Meeting is the trustee body and consists of office holders and representatives of the local churches within the Circuit who are all annually appointed by Church Councils. The Circuit Superintendent is ex officio chair of the Circuit Meeting

6.4. Management

Day to day management of the Forest Circuit, between Forest Circuit Meetings is undertaken by the Circuit Leadership team (CLT), supported by the Circuit Finance Group. The Local Preachers meeting exercises oversight over those authorised to lead worship. The CLT act on behalf of the Forest Circuit Meeting between Circuit Meetings. The CLT is appointed by the Forest Circuit Meeting and consists of the Ministerial and Lay staff, Circuit Stewards and members of the Circuit Finance Group.

7. Related Parties

The Forest Methodist Circuit is part of the London District of the Methodist church and is therefore accountable to the Methodist Conference. The churches in the Forest Circuit are listed in note 2 of the accounts.

The Forest Circuit's main source of funding is the assessments obtained from each church within the Circuit. The assessments are used to defray the cost of administering the Circuit and to pay the contributions to the expenses of the London Methodist District and to the Methodist Church Fund i.e. the Methodist Connexion.

The approach to calculating each Church's contributions to the Circuit is also discussed in Note 2 of the accounts.

8. Public Benefit Requirement

The trustees had due regard to the guidance published by the Charities Commission in compliance with its duties under section 4 of the Charities Act 2011. This guidance sets out two key principles:

The church exists to:

The trustees consider that for these reasons the charity meets these public benefit requirements.

9. Circuit Trustee Responsibilities

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

9.2. Financial Responsibilities include:

In preparing these financial statements, the Trustees must:

9.3. The Forest Circuit Meeting

The Forest Circuit Meeting meets at least two times a year to deal with routine and exceptional matters. It seeks to think strategically about the work of the Church and carry out administrative matters. Its key functions have been:

9.4. The Circuit Leadership Team

The Circuit Leadership Team, have been authorised by the Circuit Meeting to act in an executive capacity in matters requiring action and decision between meetings of the Circuit Trustees / Circuit Meetings.

10. Risk Management

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

Forest Methodist Circuit - Trustees’ Annual Report For the year ended 31[st] August 2025

The Circuit Meeting considers the various risks facing the circuit and the impact and the likelihood of issues occurring. Guidance is received from the London District of the Methodist Church and the Methodist Connexion. The headings under which the risks are being categorised include:

11. Report Approval

11 June 2026 The report was approved by the trustees on ………………………… and signed on their behalf by

……………………………………..

Revd Michael Long

Forest Circuit Superintendent Minister and Chair of Trustees

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 AUGUST 2025

Notes General Fund
(Unrestricted)
£		 Reserves, &
Investment
Funds
(Designated)
£		 Lay Workers
Fund
(Designated)
£
Manse /
Church
Valuation
(Designated)
£		 Circuit
Benevolent
fund
(Restricted)
£		 Total
2024-25
£

Total
2023-24
£
Incoming Resources
1 Donations & Legacies 3 - - - - - -
2 Interest and Investment Income 4 20,180 23,161 - - - 43,341 59,331
3 Rent / Lettings Received 4 - 94,836 - - - 94,836 31,772
4 Assessment on Churches 2 271,770 - - - - 271,770 266,290
6 Capital Receipts - - - - - - -
7 Grants received(E.g. from DAF) - - - - - - -
8 Other income (Closed church) 5 - - - - - - 3,042
9 Total Incoming Resources 291,950
117,997		 - - - 409,947 360,435
10 Resources Expended
11 Grants and Donations 6 1,100 57,872 - - 200 59,172 50,885
12 Salaries and associated costs 7 175,469 - 93,517 - - 268,986 264,013
13 Property (incl Ins., C tax, utilities etc) 8 76,645 56,246 - - - 132,891 121,765
14 Connexional Assessment & CPF Levy 70,895 - - - - 70,895 70,736
15 District Assessment & DAF Levy 14,977 26,821 - - - 41,798 41,453
16 Depreciation - - - - - 471
17 Office Expenses incl Investment
Managment costs(Admin.,tel. travel		 9 15,960 1,541 4,717 - - 22,218 20,951
18 Other Expenditure 10 3,973 - - - - 3,973 5,110
19 Accountancy & Audit 11 5,100 - - - - 5,100 4,800
20 Capital Expended - - - - - - -
21 Total Resources Expended 364,119
142,480
98,234		 - 200
605,033		 580,184
22 Net Incoming/(Outgoing) Resources (72,169) (24,483) (98,234) - (200) (195,086) (219,749)
23 Transfers between funds 38,592 (196,592) 158,000 - - - -
24 Sub Total (33,577) (221,075) 59,766 - (200) (195,086) (219,749)
25 Gains/(losses) on disposal of Manse - - - - - - -
26 Gains/(losses) on revaln fixed assets - - - - - - -
27 Gains/(losses): on investment assets - - - - - -
28 Net investment in funds (33,577) (221,075) 59,766 - (200) (195,086) (219,749)
29 Transfer of Balances into the Circuit -
North Chingford Methodist Chuch		 - - - 2,797,927
30 Total funds brought forward from last
year		 106,003 602,210 339,984
10,341,250
232
11,389,679		 8,811,501
31 Total funds carried forward at end of
year		 72,426
381,135		 399,750 10,341,250
32
11,194,593		 11,389,679

For information only: Money received and passed on to External Organisations Balance brought forward from last year Offerings/Gifts - received for External Organisations Offerings/Gifts - passed to External Organisations Balance still to be paid

-
450 850
850
450 -

The notes on the following pages form part of these accounts.

Final Accts 24-25 Forest.xlsx, SOFA

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

BALANCE SHEET

AS AT 31 AUGUST 2025

AT 31 AUGUST 2025
Notes General
Fund
(Unrestricte
d)
£		 Reserves
Funds
(Designated)		 Lay Workers
Fund
(Designated)
£		 Property
Valuation
(Designated)
£		 Circuit
Benevolent
fund
(Restricted)
£		 Total
2025
£		 Total
2024
£
Tangible Fixed Assets 3,295,000
7,046,250
-
10,341,250
Manse and otherproperty 13 - - - 3,295,000 - 3,295,000
7,046,250
-
Investmentproperties 13 - - -
 7,046,250 -
Investments with TMCP - - - - -
Total fixed assets - - - 10,341,250 - 10,341,250
Current Assets
Debtors and Prepayments 14 73,195 1,701 - - - 74,896
467,374
422,269
32,014		 72,522
474,276
548,118
31,261
Trustees for Methodist Church
Purposes		 15 309,374 158,000 - -
Central Finance Board
Deposits		 16 44,887 133,382 244,000 - -
Cash at Bank and in hand 16 31,982 - - 32
Total current assets 150,064 444,457 402,000 - 32 996,553 1,126,177
Current Liabilities
Creditors (due in under 1 year) 17 77,638 63,322 2,250 - - 143,210
-		 77,748
-
- -
 - - -
Total current liabilities 77,638 63,322 2,250 - - 143,210 77,748
853,343 1,048,429
Net current(liabilities)/assets 72,426 381,135 399,750 - 32
Total assets less current liabilitie s
72,426		 381,135 399,750 10,341,250 32 11,194,593 11,389,679
Long term liabilities -
11,194,593		 -
liabilities due after 1 year - - - - -
Net assets 72,426 381,135 399,750 10,341,250 32 11,389,679
Funds of the Circuit
21
General Fund(Unrestricted) 72,426 381,135
399,750
10,341,250		 72,426
780,885
10,341,250		 106,003
942,194
10,341,250
Reserves & Projects(Designated) 381,135 399,750
PropertyValue(Designated) 10,341,250
Total Unrestricted funds 11,194,561 11,389,447
Benevolent Fund(Restricted) 32 232
32
Total Funds 72,426 381,135 399,750 10,341,250 32 11,194,593 11,389,679

The Notes on the following pages form part of these accounts.

…………………………………………….

Revd Mike Long Circuit Superintendent and Chair of Trustees

Final Accts 24-25 Forest.xlsx, Bal sht

Page 14

Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

STATEMENT OF CASH FLOWS

AS AT 31 AUGUST 2025

Total Funds
£		 Prior year
funds
£
Cash flows from operating activities:
Net income/(expenditure) for the reporting period (as per the statement of
financial activities)		 (195,086) 2,578,178
Adjustments for:
Depreciation charges - 471
(Gains)/losses on investments and fixed asset revaluation -
Dividends, Interest and rents from investments (138,177) (91,103)
Loss/(profit) on the sale of fixed assets
Property transferred to Circuit (2,785,250)
(Increase)/decrease in stocks -
(Increase)/decrease in debtors (2,374) 9,910
(Decrease)/ Increase in creditors 65,462 (40,940)
Net cash provided by/(used in) operating activities (270,175) (328,734)
Cash flows from investing activities:
Dividends, interest and rents from investments 138,177 91,103
Proceeds from the sale of property, plant & equipment -
Purchase of property, plant and equipment -
Proceeds from sale of investments -
Net cash provided by (used in) investing activities 138,177 91,103
Cash flows from financing activities:
Repayment of borrowing - -
Cash inflows from new borrowing - -
Receipt of endowment - -
Net cash provided by (used in) financing activities - -
Change in Cash and Cash equivalents in the reporting period (131,998) (237,631)
Cash and Cash equivalents at the beginning of the reporting period 1,053,655 1,291,286
Change in Cash and Cash equivalents due to exchange rate movements - -
Cash and Cash equivalents at the end of the reporting period 921,657 1,053,655
Cash in hand (at bank,- HSBC,CFB, TMCP)
Notice deposits (less than 3 months)
Overdraft repayable on demand
921,657 1,053,655
- -
- -
Total cash and equivalents 921,657 1,053,655

Final Accts 24-25 Forest.xlsx, Cashflow 25

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting framework and accounting policies

ii Public benefit entity

iii Basis

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below.

These accounts have been prepared on the basis of historical cost except that investments and land and buildings are shown at their market value at the end of the year, and grants committed , but not paid are provided on the accruals basis to show a true and fair view of the Circuit's financial position and activities.

iv Content

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research and judgement. The accounts are expressed in £Sterling, rounded to the nearest pound.

v

Going concern

Based on the monetary assets and human resources available at the end of the financial year, 31st August, the trustees believe that the Circuit is a going concern.

vi Consolidation

The Circuit oversees the work of ministers and lay workers in Churches within the Circuit, but does not have control over those Churches, except in accordance with standing orders of the Methodist church 1932 Act, none of which were applicable. For this reason, the financial statements of the Churches within the Circuit are not consolidated into these financial statements.

vii Income recognition

Income is brought into account when it is more likely than not that the economic benefit of the income will accrue to the Circuit. No attempt is made to measure the value of services donated by volunteers.

In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised.

viii Expenditure

This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.

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Final Accts 24-25 Forest.xlsx

Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

Grants are recognised annually only as and when any performance conditions attaching to the award are met, even when the award is for a recurrent grant over more than one year . All grants awarded for payment in future financial years are conditional on the Grants committee being satisfied, on the basis of progress reports from the grantee, that the grants achievements to data justify the payment of further instalments of that grant. such committments are noted as contingent liabilities and included within the circuit advance fund or other relevant designated fund in these accounts.

x VAT

Since the Circui is not VAT registered, all input VAT is charged with the expenses to which it refers.

xi Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £500 .

The freehold properties are shown in the accounts at market valuation at the end of the financial year. Investment properties are stated at fair value. Any realised or unrealised gains or losses are shown in the Statement of Financial Activities.

xii Investment Policy

The investment of surplus funds is operated through the Central Finance Board (CFB) of the Methodist Church. CFB aims to provide a high quality investment service seeking above average returns for long term investors, whilst ensuring that the securities held by all its funds are in line with the ethical policy of the Methodist Church. The Circuit has its funds in a deposit account with CFB and in Trust funds managed by Trustees for Methodist Church Purposes (TMCP). TMCP funds are also invested with CFB.

xiii Debtors and creditors; bank and cash

Debtors are stated at the amounts owed to the Circuit or prepaid. Creditors are initially recognised at settlement amount after any trade discounts, where normal credit terms apply, or amount advanced to the Circuit. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid. The liquid funds of bank balances and deposit account balances are shown at the realisable values.

xiv Loans

Where concessionary loans ( i.e., free of interest) are made to (or received by) the Circuit to further its charitable purposes, and are repayable after more than one year, they are initially recognised at the amount paid [or received], with the carrying value adjusted in subsequent years to reflect repayments and any accrued interest, adjusted for any impairment, if necessary.

Where there is objective evidence of impairment, an immediate impairment loss is recognised in the Statement of Financial Activities. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in the Statement of Financial Activities.

xv Ministers' manse costs

The Circuit is required to provide accommodation for each Minister and his / her family. The Circuit bears the cost of repairs, maintenance, building insurance, Council Tax and water charges. These costs are not shown separately as benefits-in-kind for Ministers as HMRC does not seek to tax these receipts in the hands of the Ministers.

Page 17

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

2 Assessment from Churches

Forest Circuit assessments due from Churches to the Circuit for the year were as follows. The Circuit Finance Group continued to review the method of apportionment of the assessments across churches in the circuit and make recommendations for changes.

Church Name
Cann Hall
Leytonstone
Leyton Trinity
Lighthouse
Loughton (incorporating Trinity Debden since Sept 2020)
Shern Hall
South Chingford
Winchester Road
Woodford

An assessment apportionment for 24-25 was drafted in line with previous calculations. i.e. using factors, such as church capita, and a factor to reflect a church's ability to pay. The ability to pay factor being based on a church's total funds as a percentage of the combined churches' total funds. The figures above were presented and agreed at the Circuit Meeting.

It was stated that if sufficient income was not received from interest or letting of the vacant properties, the circuit would again need to draw on reserves.

3 Donations and Grants Received

Total Donations & legacies

2024-25
-		 2023-24
-

No grants were received in the year to 31st August 2025. However Grants have since been awarded from the London District Advance Fund in support of the employment of:

a) a communications officer for 3 years - granted in Jul 2025 £9,000

The grant will be paid as follows: £4,000 in year 1, £3,000 in year 2, £2,000 in year 3.

b) a finance officer for three years - granted in Nov 2025 £45,000

The grant will be paid as follows: £20,000 in year 1, £15,000 in year 2, £10,000 in year 3. Entitlement to these grants will be on the appointment of the officer. The sums are not recognised as the income in the year, but represent a commitment of future funding.

4 Interest & Investment Income

The Circuit currently holds no investments.

Funds are held on deposit at CFB, either directly or through a model Trust fund held at TMCP.

4.1

Interest Received
General Fund
Forest Circuit Model Trust Fund
Wanstead Accounts before amalgamation - now closed
North Chingford Accounts before amalgamation - now closed
Total Interest & Investment Income		 Fund Type
Held at
U
CAF&CFB
U
TMCP
TMCP & CFB
CFB & CAF		 Fund Type
Held at
U
CAF&CFB
U
TMCP
TMCP & CFB
CFB & CAF		 2024-25
20,180
23,161
-
-
43,341		 2023-24
32,741
26,113
302
175
59,331

Page 18

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

4.2 Income from investment Properties

5
6		 Residential Property Rental
Gross
Agents Fees
2024-25
Hollywood Way
28,800
(3,528)
25,272
Ridgeway
33,000
(4,440)
28,560
Total Residential Property Income
53,832
Lettings at Circuit Church buildings
Wanstead
22,670
North Chingford
18,334
Total Circuit Church buildings
41,004
Total Circuit Investment Property Income
94,836
Total Interest & Investment Income
138,177
Other Income
2024-25
Circuit Service
-
Offerings / Tax claim re Wanstead
-
Offerings / Tax claim re N Chingford
-
0
Grants, donations and related Support costs
2024-25
Grants from Circuit Model Trust Fund
ShernHall for replacement windows 24-25
17,872
Leytonstone for kitchen replacment 24-25
40,000
Lighthouse (from John Millar Fund - for Kitchen) 23-24
Total Grants from Model Trust fund Reserves
57,872
Benevolent Fund Grants
200

Donations / Gifts - e.g. to supernumaries
1,100

Total
59,172
Grants and donations were made in the year as shown below:		 2023-24
23,232
23,232
6,740
1,800
8,540
31,772
91,103
2023-24
162
465
2,415
3,042
2023-24
50,000
50,000
-
885
50,885

Page 19

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

FOR THE YEAR ENDED 31 AUGUST 2025
7
Salaries and associated costs
2024-25
2023-24
135,972
124,075
14,000
11,579
24,816
31,247
Stipend apprenticeship Levy & P11D charge
681
1,108
68,588
81,194
8,094
7,373
4,115
6,544
Interim Property & Facilities Contractor
11,875
Payroll administration charge and apprenticeship Levy for lay staff
845
893
268,986
264,013
Lay StaffGross Pay (Pastoral worker Full time, Operations
manager Full time from December)
Employer's National Insurance contribution re Lay Staff
Employer's pension contribution re Lay staff
Gross StipendsPaid - 4.15 ministers
Employer's National Insurance contribution
Employer's pension contribution to defined contribution scheme
Total cost		 2024-25
135,972
14,000
24,816
681
68,588
8,094
4,115
11,875
845		 2023-24
124,075
11,579
31,247
1,108
81,194
7,373
6,544
893

The Superintendent Minister and Ministers Stationed in the Circuit are paid a stipend, pension and expenses by the Circuit. This Stipend is that agreed annually by the Conference of the Methodist Church.

No employees received employee benefits that totalled more than £60,000. There is no accrual for holiday pay as it is immaterial; the holiday year ends on 31 August. All staff are paid at or above the living wage.

No accrual is made for ministers sabbaticals as their functions are undertaken by other ministers and delegated lay persons in the Churches and Circuit at minimal extra cost to the Circuit.

It should be noted that the Ministers stationed in the Circuit are required to occupy the Circuit manses. The council tax and water charges for the manses occupied by ministers are paid by the Circuit. HMRC does not regard this as a taxable benefit to the minister.

Ministers stipends and expenses are paid from the general fund, which is funded principally from assessments. Lay staff salaries and their expenses are paid from a designated fund drawn from Capital reserves at the point the roles were initially agreed. This fund will need to be reviewed every few years to ensure sufficient funds are in place to pay lay staff for the coming years.

Payment to Trustees

The Methodist Ministers stationed in the Forest Circuit are included as trustees of the Circuit. It is Circuit Policy to offer to reimburse local preachers and others involved in the administration of Circuit affairs for expenditure properly incurred in carrying out their duties.

Pensions

Most ordained presbyters and deacons are members of the Methodist Ministers’ Pension Scheme (MMPS). This is a defined benefit scheme. The Supreme Court held in 2014 that Methodist ministers (which term includes presbyters and deacons) are not employees of the Church. For simplicity, however, when dealing with National Insurance Contributions and pension contributions, the terms ‘employer’ and ‘employee’ are used as they would be in an employing body. The Connexion accounts for the MMPS schemes and shows the figures in the annual Methodist Church in Great Britain accounts.

Lay staff are enrolled in the TPT Retirement Solutions Pension Scheme. The Circuit's contribution is 6% of salary.

8 Property costs
Operational Property (Manse) Costs
Total
Council tax
Repairs, Maintenance, checks and renewals
Insurance and Utilities
Professional Fees and Survey costs		 2024-25
58,512
7,528
10,055
550
76,645		 2023-24
22,322
7,267
11,273
-
40,862

Page 20

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

9
10
11		 Investment Property Costs
2024-25
2023-24
Church Buildings
Wanstead
North Chingford
Total
Total
Utilities & Extinguishers
1,386
3,513
4,899
4,090
Insurance
4,410
5,591
10,001
15,856
Cleaning
2,463
3,691
6,154
2,740
Professional Fees - surveys
525
525
1,300
Repairs, Maintenance
12,009
17,673
29,682
6,993
Other, e.g. Clearing
-
5,977
Total Expenditure
20,268
30,993
51,261
36,956
2024-25
2023-24
Residential Properties
Hollywood Way
The Ridgeway
Total
Total
Utilities & Extinguishers
(106)
(106)
786
Council tax
271
271
3,055
Professional Fees - surveys
-
525
Repairs, Maintenance
272
4,548
4,820
39,302
Other, e.g. Clearing
-
279
272
4,713
4,985
43,947
Total Circuit Property costs
132,891
121,765
Office expenses & investment management fees
2024-25
2023-24
Office expenses & other ministerial & Lay Expenses
Ministerial
Lay Staff
Printing, postage &
stationery,
3,475
85
3,560
4,288
Telephone& Broadband
6,865
283
7,148
6,894
Travel & Parking
2,752
1,362
4,114
6,060
Other Expenses
2,868
341
3,209
2,253
Supervision
450
450
Set Up Expenses
2196
2,196
15,960
4,717
20,677
19,495
Investment management
During the year the Circuit paid the following amounts to TMCP as custodians of the Trust Funds
Circuit Model Trust Fund
1,541
1,456
1,541
1,456
Office expenses & other ministerial costs
Total 22,218
20,951
Other Expenditure
2024-25
2023-34
General Fund (U) Other items
Training & Special Activties, e.g. Pentecost celebrations,
636
705
60
2,474
Youth Work
5
500
Health checks
765
Bank charges & Auditor's letter
60
74
Sundries (Website hosting, job advets,etc.)
332
592
Removal Costs
2,880
-
3,973
5,110
Total Other Expenditure & Training 3,973
5,110
Fees for Accountancy and Audit of the Accounts
2024-25
2023-24
Auditor's Fee
2,500
2,400
Other Fees (e.g. accountancy services)
2,600
2,400
5,100
4,800
Total
Preachers fees and expenses
Total		 Investment Property Costs
2024-25
2023-24
Church Buildings
Wanstead
North Chingford
Total
Total
Utilities & Extinguishers
1,386
3,513
4,899
4,090
Insurance
4,410
5,591
10,001
15,856
Cleaning
2,463
3,691
6,154
2,740
Professional Fees - surveys
525
525
1,300
Repairs, Maintenance
12,009
17,673
29,682
6,993
Other, e.g. Clearing
-
5,977
Total Expenditure
20,268
30,993
51,261
36,956
2024-25
2023-24
Residential Properties
Hollywood Way
The Ridgeway
Total
Total
Utilities & Extinguishers
(106)
(106)
786
Council tax
271
271
3,055
Professional Fees - surveys
-
525
Repairs, Maintenance
272
4,548
4,820
39,302
Other, e.g. Clearing
-
279
272
4,713
4,985
43,947
Total Circuit Property costs
132,891
121,765
Office expenses & investment management fees
2024-25
2023-24
Office expenses & other ministerial & Lay Expenses
Ministerial
Lay Staff
Printing, postage &
stationery,
3,475
85
3,560
4,288
Telephone& Broadband
6,865
283
7,148
6,894
Travel & Parking
2,752
1,362
4,114
6,060
Other Expenses
2,868
341
3,209
2,253
Supervision
450
450
Set Up Expenses
2196
2,196
15,960
4,717
20,677
19,495
Investment management
During the year the Circuit paid the following amounts to TMCP as custodians of the Trust Funds
Circuit Model Trust Fund
1,541
1,456
1,541
1,456
Office expenses & other ministerial costs
Total 22,218
20,951
Other Expenditure
2024-25
2023-34
General Fund (U) Other items
Training & Special Activties, e.g. Pentecost celebrations,
636
705
60
2,474
Youth Work
5
500
Health checks
765
Bank charges & Auditor's letter
60
74
Sundries (Website hosting, job advets,etc.)
332
592
Removal Costs
2,880
-
3,973
5,110
Total Other Expenditure & Training 3,973
5,110
Fees for Accountancy and Audit of the Accounts
2024-25
2023-24
Auditor's Fee
2,500
2,400
Other Fees (e.g. accountancy services)
2,600
2,400
5,100
4,800
Total
Preachers fees and expenses
Total		 2023-24 2023-24
Total
4,090
15,856
2,740
1,300
6,993
5,977		 Total
36,956
2023-24
Total
786
3,055
525
39,302
279
43,947
3,973
5,110
2024-25
2023-24
2,500
2,400
2,600
2,400
5,100
4,800

Page 21

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

12 Manse Valuations

All Manses and churches were professionally revalued at the end of August 2020.

13 Tangible Fixed assets

Tangible Fixed assets
Cost or Valuation Manse
Property
Investment
Property
£
£		 Total Land
& Buildings
£		 Equipment
& Software
Furniture
£
£		 Total Other
Property
£		 Total Assets
£
Balance at31st Aug 2024 3,295,000 7,046,250 10,341,250 11,247 - 11,247 10,352,497
Additions in the year
revaluations in the year
less: disposals in year
Transfers between categories
Balance at31st Aug 2025		 -
-

-
-
-
-
-
-
 - -
-
-
-
-
- -		 -
-
-
-		 -
-
-
-
3,295,000 7,046,250 10,341,250 11,247 - 11,247 10,352,497
Accumulated depreciation
Manse
Property
Investment
Property		 Total Land
& Buildings		 Equipment
& Software
Furniture
Total Other
Property		 Total
Changes
Balance at31st Aug 2024
Depreciation charge for the year
revaluations in the year
less: disposals in year
Balance at31st Aug 2025		 £
£
- -
- -
-
-
-		 £
-

-
-
-		 £
£
11,247 -
-
-
-
-
-		 £
11,247
-
-
-		 £
11,247
-
-
-
- - -
 11,247 - 11,247 11,247
NB: Years over which value is depreciated
3
3

Net Value

Net Value
Manse
Property
Investment
Property		 Total Land
& Buildings		 Equipment Furniture
Total Other
Property		 Total
Balance at31st Aug 2024
Balance at31st Aug 2025		 £
3,295,000 7,046,250		 £
10,341,250		 £
£
- -		 - £
10,341,250
3,295,000 7,046,250 10,341,250 - - -
 10,341,250

Two residential properties are no longer needed as Manses.

Circuit managed church buildings

In considering the Expressions of Interest and the future for the North Chingford Methodist Church building, valuations were sought for both the North Chingford and the Wanstead Church buildings, from Alex Martin, Commercial Ltd. (Alpha House, 100 Borough High Street, London SE1 1LB.

Valuation Date Valuation
Wanstead Churchbuilding came under the responsibility of the Forest Circuit in September 2022.
The recent valuation given was "in excess of" £2,000,000. This is £786,000 less than the previous October 2025 £2,000,000
valuation of £2,786,000 in 2020. This change has not been reflected in the accounts this year, but will
be considered for next year's accounts, following the sale of the North Chingford Church.
North Chingfordchurch building came under the responsibility of the Forest Circuit in September 2023.
The recent valuation given was "in excess of" £1,950,000. This is £835,250 less than the previous September 2025 £1,950,000
valuation of £2,785,250 in 2020. This change has not been reflected in the accounts, but will be
reflected in next year's accounts, following the sale of the building due in 2026.

Page 22

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

14 Debtors and prepayments

Not all sums shown as debtors at the start of the year, 1st September, were received during the year. A few churches had outstanding assessments, but these have reduced during the year.

Amount outstanding from churches at Year End
Leyton (Trinity)
Assessments
Lighthouse
Assessments & other item
Leytonstone
Assessments
Total		 2024-25
£
9,915
37,036
6,542		 2023-24
£
9,917
44,340
53,493 54,257

Leyton Trinity aim to repay the amount owed to the Circuit - by £3,000 per year till 2026. This did not happen in the year 2425 due to a change in treasurer. It is being addressed in 25-26.

Lighthouse aim to pay the amount owed to the Circuit by approx £3,366 per year over 15 years from 2023.

Other sundry debtors, e.g. TMCP Interest, Oct Retreat
Total
Total (net)
Prepayments and accrued income
Council tax & Utilities
Stipend		 2024-25
£
4,179
15,209
2,015		 2023-24
£
3,852
14,413
-
21,403 18,265
74,896 72,522

15 Trustees for Methodist Church Purposes

TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property and assets, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP provide guidance and require the circuits to act under TMCP direction. Thereby Managing Trustees will comply with charity law and Methodist law and policy as determined by the Methodist Conference.

Before the start of the year, the Forest Circuit had responsibility for: 2 residential properties, both of which are now rented out; and the Wanstead Church building, which is let to a number of organisations.

In September 2023 the Circuit Trustees took responsibility for North Chingford Methodist Church building after the Church ceased to worship. A decision is yet to be made on what to do with the building. While possibilities are being explored, the building has been let to a number of hirers.

16 Central Finance Board (CFB) and cash at banks

The Circuit carries out most of its business through its CAF Bank account (Charities Aid Foundation), which was opened in October 2020. The account with CAF bank facilitates online banking with dual authorisation. CAF is an authorised institution. The sums held on the account are immediately available.

The Circuit has a deposit account at CFB. Interest earned on this account is credited monthly; the sums deposited can be withdrawn without notice and without loss of interest.

Page 23

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

17 Creditors and accrued expenses

Other Creditors unpaid as at EOY
Pension Back payments - Lay Fund
Grant to Loughton 2023 - remaining undrawn
Removals & Grant
ShernHall Windows Grant
Leytonstone Kitchen Grant
Connexional Funds & received for others unpaid £450
Property related expenses
Total of creditors and accrued expenses
Total creditors
Pre receipts
Assessments
Pre receipts - 3 gen grant from district
Total accruals
Expenses reimbursement (ministerial & Lay)
Creditors:
Audit & accountancy Fees & bank audit letter		 2024-25
£
307
5,115
1,954
7,315
2,250
5,000
3,767
17,872
40,000
450		 2023-24
£
-
4,815
2,493
6,853
1,770
5,000
-
-
84,030 20,931
58,520
660		 56,817
-
59,180 56,817
143,210 77,748

It is expected that all sums accrued at the end of year will be paid before the end of the following year.

18 Capital commitments and contingent liabilities

18.1

Capital commitments at end of year amounted to:
Lay salaries to November 2029
Grants committed (listed in Creditors)		 2024-25
399,748
62,872		 2023-24
339,984
5,000

19 Volunteer contributions

Every entity (Connexion, District, Circuit, Church) within the Methodist Church in GB is heavily reliant on volunteers who contribute their skills, time and money in the furtherance of the work of the Church. For the Forest Circuit directly this contribution is generally by serving on committees of the Circuit that deal with mission, manses, finance, policy, grants, training, development and governance, but there are many others who assist with the preparation and running of Circuit events. We are grateful to all of them for their help and commitment.

20 Lease commitments

The Circuit had the following lease commitments at the end of August:

Leased facility Review Period Payment Period Annual Payment Total Commitment
Peak Uk ltd (Printer /
copier)
4Com Network (Mobile
phones)		 5 year contract
1 year contracts		 24/04/2029
01/05/2026		 quarterly
monthly		 1,718
1,391		 6,874
1,391

Page 24

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

21 Circuit funds (Unrestricted, Restricted and Endowment)

The Forest Circuit of the Methodist Church maintains a number of separate funds. The purpose, type, movement and state as at the end of year is documented below:

The funds held constitute: Unrestricted (U) General Funds held for any purpose, Designated (D) funds allocated for a specific purpose, Restricted (R) funds which are held for a narrower purpose. The Forest Circuit does not hold any Endowment funds.

21.1 Fund Purpose & Type

Circuit Property e.g. manses, residential property and churches which have ceased to worship, are under the managment of the Circuit, but are legally owned by Trustees for Methodist Church Purposes. The value of this property if sold does not fully accrue to the Circuit. The value of these properties are shown in separate Valuation Funds in order to simplify and clarify the reporting and monitoring of the Circuit's more liquid assets.

21.1.1
21.1.2
21.1.3		 Fund Name
Type		 Fund Name
Type		 Purpose of the Fund
Unrestricted Funds (U)
General Fund U For use at the discretion of the trustees in the furtherance of the objectives of the Circuit.
This excludes funds which have been designated for a specific purpose. (see designated
funds below)
Designated Funds (D) For specific purposes but not restricted by document or deed to that purpose alone. The
trustees mayagree from time to time to transfer funds from a designnated fund.
Operational Funds
Circuit Model Trust Reserves D1 To support the funding of projects in the Circuit
Lay Staff Fund D2 A fund setting aside sufficient funds to employ specific lay staff for a designated number
of years. E.g. The Operations Manager for 5 years. This fund needs to be reviewed at
least every couple of years to ensure sufficient funds are available to cover lay salaries
for the years ahead. This has been updated when new staff are employed.
John Millar fund D3 A legacy from the Late John Millar for Mission & Ministry project grants in the Circuit.
Grant criteria have been agreed. Applications are invited from Churches using a form
indicating the information required. Grants cannot be paid if a church's financial and
property reporting is not up to date.
Manse Valuation Fund D4 The value of the freehold properties owned by the Circuit, used as manses for the
ministers stationed in the circuit.
Investment Funds
Hollywood Way Fund D5 To assist the monitoring of the profitablilty of the residential property - Hollywood Way.
The Ridgeway Fund D6 To assist the monitoring of the profitablilty of the residential property - The Ridgeway.
Wanstead Cash Fund D7 To assist the monitoring of the profitablilty of the Wanstead church building.
North Chingford Fund D8 To assist the monitoring of the profitablilty of the North Chingford church building.
Church Valuation Fund D9 The value of the non residential freehold properties managed by the Circuit. I.e.
Wanstead MC and North Chingford MC buildings.
Residential Investment
PropertyValue		 D10 The value of the freehold residential properties owned by the Circuit, i.e.Hollywood Way
& The Ridgeway.
Restricted Funds (R )
Forest Circuit Benevolent
Fund		 R1 To help meet the exceptional needs of presbyters, deacons and lay employees in the
Circuit, when these cannot be met by the church alone. Providing a resource from which
confidential payments can be made at the discretion of the Superintendent & nominated
Trustees.

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Final Accts 24-25 Forest.xlsx

Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2025

21.2
21.2.1

21.2.2		 Fund Balances and Movements Fund Balances and Movements
Fund Name Opening
Balance		 Incoming
Resources		 Resources
Expended		 Gains on
revaluation		 Transfers In &
between		 Closing
Balance
£ £ £ £ £
Unrestricted Funds
General Fund (excluding
manse value fund)		 U 106,003 291,950 (364,119) 38,592 72,426
Designated Funds - -
Operational Funds - -
Circuit Reserves D1 444,658 23,161 (46,234) (158,000) 263,585
LayStaff Fund D2 339,984 - (98,235) 158,000 399,749
John Millar Fund D3 157,552 (40,000) 117,552
Manse Value Fund D4 3,295,000 3,295,000
Investment Funds
Hollywood Way D5 - 25,272 (272) (25,000) -
The Ridgeway D6 - 28,560 (4,712) (23,848) -
Wanstead Fund D7 - 22,670 (20,268) (2,402) (0)
North Chingford Fund D8 - 18,334 (30,993) 12,658 (0)
Church Value Fund D9 5,571,250 5,571,250
Residential Investment
PropertyValue		 D10 1,475,000 1,475,000
Total Designated 11,283,444 117,997 (240,714) - (38,592) 11,122,135
Total Unrestricted &
Designated		 11,389,447 409,947 (604,833) - (0) 11,194,561
~~-~~
Restricted Funds -
Forest Circuit Pastoral &
Benevolent Fund		 R1 232 - (200) 32
Total Restricted Funds 232 - (200) - - 32
Total Funds
11,389,679 409,947 (605,033) - (0) 11,194,593

22 Connected organisations and related parties

Connected organisations include the Methodist Connexion, the District and Churches within the Circuit, CFB and TMCP. All of these entities have their own trustees or directors and autonomous administration such that the Forest Circuit has no significant influence over any of them, nor they over the Forest Circuit. They are, therefore, not considered related parties.

Total
Name of Connected Organisations
Transfer of assets from North Chingford Methodist Church
Donee: Methodist Church Fund via the London District.
Donor / Donee: the London District (levies / grants)
Donor: Churches within the Forest Circuit - assessments
Donor / Donee: Churches within the Forest Circuit (grants).
- ShernHall / Leytonstone		 Receipts Payments Transfers
£
271,770		 £
(57,872)
(41,798)		 £
(70,895) -
271,770 (170,565) -

A salary of £31,088 (2024 - £29,106) was paid to Zakayo Njeru Nyaga in the year for services provided as a Circuit pastoral worker. Zakayo Njeru Nyaga is the husband of Circuit Trustee Rev. Stephanie Njeru.

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

FOR THE YEAR ENDED 31 AUGUST 2025

DECLARATIONS

Finance Group Convenor

I confirm that I have prepared the accounts from the records of the Circuit and that they include all funds under the control of the Circuit Meeting.

Signature of Circuit Finance Date 19/6/2026 Trustee Name Hannah Roberts Address 7 Marine Terrace, Waterloo Port, Caernarfon, LL55 1LP

Presentation to the Circuit Meeting for approval.

I confirm that the Accounts will be presented to the Circuit Meeting on

11 June 2026

and were approved, subject to Audit

Signature of the Chair of the meeting Name of the Chair of the Revd Michael Long meeting Date 22/6/2026

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

INDEPENDENT AUDITORS' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

TO THE TRUSTEES OF THE FOREST METHODIST CIRCUIT

We have audited the financial statements of the Forest Methodist Circuit (the 'charity') for the year ended 31 August 2025 which comprise Statement of Financial Activities, the Balance Sheet, Statement of cash flows and notes to the financial satements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the accounts:

Basis of Opinion

We conducted our audit in accordance with Internatonal Standards on auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirments that are relevant to our audit of the financial statments in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirments. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees' annual report2, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

INDEPENDENT AUDITORS' REPORT (CONTINUED)

TO THE TRUSTEES OF THE FOREST METHODIST CIRCUIT

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement set out on page 11, the trustees are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In Preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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Docusign Envelope ID: 561CCC5C-D68A-8A0B-82C4-970137778FD5

FOREST METHODIST CIRCUIT

INDEPENDENT AUDITORS' REPORT (CONTINUED)

TO THE TRUSTEES OF THE FOREST METHODIST CIRCUIT

To identify risks of material misstatement due to fraud (“fraud risks”) we assessed events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. Our risk assessment procedures included:

+The susceptibility of the charity’s financial statements to material misstatement caused by fraud or other irregularities were assessed with the following procedures: �

Potential fraud risks that had been identified throughout the planning and commencement of the audit were communicated to the audit team.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Clay Ratnage Strevens & Hills Suite D, The Business Centre, Faringdon Avenue, Romford, Essex RM3 8EN Chartered Accountants

& Statutory Auditor

22/6/2026

Date ……………….

Clay Ratnage Strevens & Hills is eligible to act as auditor in terms of section 1212 of the Companies Act 2006.

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