Reg1stw•d cTIty Numbw. 1134891 BASINGSTOKE & READING METHODIST CIRCUIT ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31 August 2023
BASINGSTOKE & READING METHODIST CIRCUIT Annual Rel and Financial Statements For the year •nd8d 31 August 2023 CONTENTS Pages Report of the Truslees Report of the IndeK*n(lent A 9-11 Statement of Financial Ae Year ended 31 August 2023 Year ended 31 August 2022 12 13 BaLanc8 Sh901 14 Cash IkN 5tatemont 15 Notes ¢omiing part of the Fin81 Statemants 16-25
Basingstokè & R8ading Methodist Clrcult Southampton District. Circuii number 2614 Annual r•port forth• y•ar •nd•d 31# August 2023 REFERENCE AND ADMINISTRATIVE DEfAILS The Circu5t 83gngstoke and Rthgirb3 klethodtst &"rcaJrt wa5 fc¥1 rm 1 SeFeNthr 2014 as a result ol the merger of Basingstoke Methodist Circuit and Reading & Skhester Methc¥Jist circu The Circuit is a 58parate legal ents.ty within Ihe MethodLStChurch and Is rquwEd underchanty to pfepare separale xcounts. The Circurt is a registered charty IEroland & wa5) numtw 1134891. There are 21 churches Wth the cl1[ wtth a lolal rrmtwship of 926. The churCr are spread around Readirtg #nd 88singstoke and Ihe rw)ht)ourry trxyns and Vbll4es of Bradfield, SUrghfId Commoft. M0rb'rr, Tadley ar¥J &thester. have kvl acumen1 partnerships with An9fi¢an, Bapts'5t andlor United Reh)m&l thvrcls. Trust••s Tha CircUS trust80& ofthe Cirujit Meeling. ¥• kstad on page 2. Ex•eutlw Ind l•ad•rshlp funclk>ns The CcUlt Stewards Iwho are ex Off.0 members of the Circuit Me¢ting1 are responsible for ensuring th81 the decL5n3 of the Circuit Ilrting ale execArted. Thè I"ng 8ej as CirGuit Slawards dunng the yw. Peter 8oaTdley la0 as Fina1 Secrelary) June Hardcastle Margaret Hayes Mananne Sa$ mhael Parker Terence Rowell The Circuit Leadershp Team gives kjnger-term wsp)n to the Circuiys affairs and ¢ompns&s a mix of slipÈnd18ry and lay members ol the Circuit MeetyThJ The fdk)wmg, who are also mèmbers ofthe Circu M¢elin9, serv¥d on CLT this year Reverends Beuke5. Shaw, fvowne, Watson, Jenkins and Fish•r. and Oeacon Maria Howard.. all aTCUrt SttardS. two ftwesentsng hxal preach&rs and worship lea¢Jers (June H¥rd¢o$1kn and PJdy Josel,. and Mary Ludk)w and Petw Frank, representing 18y employae$ Marnn Young. who is also a rnn•r of the Circuit Meeting. is retary to CLT Cu•todl•n tru•t••• The cuslodK8n trustees are the Trugtèes for Methctht Church Purposes Cont•ellng th• Coreult The Circurt's principal oifu is 84 Queen's Road. Re8din9 RG14BW. ts18phone 0118 958 1505. The Circuit's Wèbsiie Bank•rn The Circuil's bankgrs e thè Cèntral Fiiartè Board of the kl•thodisl Church. 9 Bonhill Street, London EC2A 4PE," and CAF Benk Lld. 25 Kings Hill Avert. Kst Malling. Kont ME19 4JQ. Audltorn and wof¢•slon•l dvi8•r The Circuit's auditw w• JanMs Cvwper Kreth Audit, Rding Brhdg• House. Georye str1, Reading. RG1 8LS. The Circurt engages a85 ts legal affaws arwj woperty services as requiied.
Baslngstoke & Readlng PAethodist CiTruIt Southampton DistricL circuit number 2614 Annual report for the year ended 3141 August 2023 Managlng trust••o The managing trustees, are all of the Circuit Meeliry are as follows.. Dr Stephen Appi Rev John Banks Mrs Diane Bath Ms Angela Bell Rev Marb'n Beuke5 Mr Peter Boardley Mr Ketth CaNe Mrs Bnda Cal)om Rev Jackie Case Mr Ray Chalk Mr Peter Chapman Ms J08ephine Childs Mr Jonathon Clark Mr Cyril ClaTk Mr David Clrffe Mrs Kim Crawley Mrs Jacqui Dav Ms Tracy Davis Mrs Jennrfer Dimffk Rev Jenny Dowding Mrs Chrisb'ne Emblet Rev Chris Evans Rev Valene Fisher Mr Ken Fordjour Mr Peter Frank Mr Donald Fraser Mr Martin Gwjwin Mr Neil Graham Ms Pan Guy Mr Alan Hadand Mrs ChaTmian Harrison Mrs Margaret Hayes Mr$ Linda Hoe Mr Alan Holloway Mrs Bevertey Holbway Ms Kathleen Houghton Mr Andrew House Mr Colin How Ms Sue Jackson Rev DavKI Jenkins Mr Simon Johnson Mrs Paddy Jose Miss Helen Khan Rev Jeon9sook Kim Mr Michael Kimber Mrs Patitkq kn'nchinglon Mr5 LirKla Langndge Mrs Gill L0 Mrs Jennrfer Lehton Mrs Rosemary Lister Ms firtvashe Manhera Mr Chris Marsh Mrs Sandra M¢Kenzie Mr Aban Meakin Mrs Grace Mercer Mr Mike Mercer Rev Dr Ruth MKlcalf Mr Michael Parker Mfs Ann Peddle Mr lan Pollard Mrs Barbara Rayner MTS Hilary Re&J Mr Martin Riley Mr Tery Row811 Miss Marriane Sabes Rev Jonathan Salmon Ms Claiffj Simpson Mrs Margaret Simpson r Vishal Siftgh Mr Jonathon Skeet Mr Sleven Skelton Mr Mike Smth Rev Dr John Sumrira Mrs Heather Symonds Mrs Gina Ta Mrs Ruth Taylor Mrs Christine Valli8 Mr Keith Waite Rev Helen Watson Mr Robert IRobin) Vlatson Mrs SaTah Vthithom Mrs Man Young Mr Peter Young
Basingstoke & Rèadlng PAethodlst Clrcult SoUthaMptr DistricL circuit numb•r 2614 Annual POrt for the y¢ar ¢nd¢d 31" August 2023 The members of the Cwjii meeb.ng las ManagN INskesl have plDasure in presenb.ng thew annu report and the audited rA)Unts frx the yew. l. Obiecti¥•¥ •FW aetiviti The Circurt's vksion statewEnl is "InspuBd and 18d by Haly S¢¥n"I, shall love, resou gnd encour8g& one anotlw. sh8m ChTrst our IghboUr and grnv God's kingdom. In doing that. shall placg p8ople Irore btJldiro4 missw before maint8nanrx, and Gcl ov6r chUh . In February 2020 the Circuit &JoptwJ a strategy entthd 'NJnShed Fed. Rewjy lo Share, The Circurt's purm is to wovKle resources to support ministy in kKal churches The Circuit does thi5 through the provision of OTdwned ministers and dea¢crt. lay stsff and Circutt officers to support service and mini51ry Irom Ihe Circuit's 21 churc15 to their tsal corr¥nuntrs The Circurt also has responsibilty for the upkeep and maintenance of 13 manses and Inves1ffnl PfOPWt"es Th Circurt produce5 a quarteth preaching plan to SUre regular acts ofworship tske pl 8t eBch of the 18 Methodist Churches and 3 Local EuJrrnKal Partnefships in ts gwraphi¢al arèa. These are availab to all people wilhout charge The CITCUrt is aL80 direclty invofved with outr8ad) work, with partulw emphasls on ¢h{k1n arx1 familN?s. s¢hools, SUPFNt lor foodbanks. The trustees confiftn thel they releryed to the guikne COntned in the Chanty Comm¢s8'S general guidance on public b6nefiL indydin9 th& gLtidanc6 'Pubbc benefit running a charity IP821'. when reviewing the Circuiys aims and obJeth"ves. The Circurt * pursuing its obiects.ves ttrough the following Strateg by prov¥JirvJ'. Stalfing r8styJrces and olher assi£lan¢& to chur¢hgs fry ff4ni8ty to their communiti&$". Gran15 frx OUth 8ctNeS and wnprovements lo churches. Pfemises thal w¢ll facilrtate acce5S to ministry, Training throLbgh stiity, mnlDnr4J and exMat lay kv•ach8rs )IShl lèaders, Training and supm In safeguarding awareness.. Opportunrts lor slaff arvj ffmb8ts of church cOngregatiC to for (•llowship, worship And arning. and Cara for ItKAe WIKJ hwe reb"r8d Irom fuiklirr ser¥Th In Ihe MolhodKl Church. 2. Achl•v•m•nts •nd wlorn The Circuit has contsnued to benefft frcth strong and effecbve ministerl And lay k•adership. This 18 now ussed trroiigh the CLT, whh was frrrd m Septemtr 2015 and comprlses representatives from ordained staff. the circurt stewards. lay rremtws of the artuit meeting #s noted on Paga 1 CLT'S brtef Is to tske a more strategt vlvw In lèading the Cw(xAt through a wvJd of than9tr and gui¢Jln9 th• allocation ol resources in the nN)st effethe direcli The Circuit has also ntInu&j to benefft from its I8 group of establtshed IcKal wvchers. Currenlty three IndivU81$ are 'on note. as Intending kxal preachers and ¢urTl none are'on tnal, whilsl they undertèke Irainry. Three IfKIMduals have conwbeled trainiThJ as W$1p leaders, and one is undertaking the Connexional cjxjtse. Two of the CW¢Il,$ tutors have been training worship leaders in other cwcurts. Th• Circuit Meets'ng appTh8d grants to Methodist and Christ Church WoodlÈy in eonneetion wrth wemises works and wryship ts¢ilibes The Circurt a0 committ¥d to making grants to Tibhursl MethrxlJ5t Church towards the cost of its ky empbye8. and it made 8 9rant 01 £500 to support thfr work of the Re&ling Vniversty Chaplancy Servth. Further detsi15 are provided in Note 10 to the Accounts. The Circuit woduced devol#1 resour for Advent 2022 that were dtstribul•d to all the Circuit's churches for use by IndNh1uais, small groups, or in worship The Circurt Is tsvety involved throLtgh lay Staff with OLtreath proJ8ds in Basrysloty ¥ith yo9 peop aWKI thè T(f•vn Centre Chaplncy. As the restrictions for the CO¥ eased and Yrtrè then lffted, chuiehes were adapted to be c0vvj-urè so that Ihey contsnue to be fr)r worship or for activilÈs organtsed or sponsored by the churches cales. Buys. or Girls. youth ¢lut6.
Basing$toke & Rt•diny Idethodist C1Ul1 Southampton Districl circuit number 2614 Annual report lor the year ended 31" August 2023 Local comrnunty organisalions notaw IfM)se ptomoro fthess and IlIh. MUS and dance use church premises, and COrne from extemal letti mes a ¥attwl ¢onkn"butKn trardS upkeep of church premises Churches. finances had been stretched by the I$ of th.ngs income during the Much use is m&Je of Zoom and siffilar pLglforrrts lor broadcastsng servtts xross tt)e intsmel. Many churches arrange and hokj tha'r o•m serv. aThJ 0th8rs LW the service organise by the Circuit each week. Churches have inves in technokgy to film seThw, and this ha5 OPPOrtunthS for use for exarrple wrfh c(certS hekl atchurths bw.ng m•Je a¥aable to a wider audience. The churches continue todeveknp ays and mears lor outreac into hxal tK)UrhoOds. for gxample the quyat gardan and R•tr& Centro at Sikhw and corrthunity cafés. Severdl churches have Messy Church, lunch, holiday and after-schod clLth', cw tsih)Ted chiKlren. familiBs and y¢)Uth work. Some churches have acled as a cdi¢cts)n p)int t(xes 0[erats chr Ch. Much work Is beir¥J done to sup1 fO¢bankS a¢rts5 the Circurt's Coffthune$. Many outreach proj•cts ar• carried wl pgrtrbwshpwrfti churches trom other denominath)s, such as th• REIn$pIr 8nd'Own thè Bk. prc•3rammès for deiNering relvjious educab'on in s¢hw18. a wèèkly lunch club bn wh11, and the.LOnlr Proi8ct' in Cavetsham. W Methcxyisl Churth participated In '8ed for the Nighv, an ecurrnical initratNti PrOlg 7Kcomrndaln #nd food lor the hom8less in Re)JiThJ. Trinty Basingstoke's Lunch ha5 de¥elorEd ¢onlacts with fc(KJbanK us8r3. In May the Ctr¢uit tegan conversations wilh the Kennet and Test Valky Iicrv) Circuit about the poss•bility of the Circuts amawmating, whKh In legal tern woul(J mean Circuit's assets and undertakings being absorbed into the Basin9sloke & Reading Cirujit. This ha$18d to fruthl exploration ol how best to supp)rt IcJm8 ft)r thè year was £1.172.689 betor• in¥•strnt galns {2022'. nel expendrtur• ot £62,336) The irreaSe of£1,235.035 rnsulbj frryn ts tolkhwrvj.. Churches, assessnts were incrtssed Investrw)l incomè and bonk W8s hKJher Rental income from marsses wa5 hwher wrth fewer voids an¢)thgr property being L*1 Propety and Modd Trust Funds translerred from ck)sed Ghurth•s Connexional fundirs was receryed in respect of a $l•ff mèmb•r on long.term l•• Manse rnaintenance 8nd othèr ¢o$ts were h¥h Mofe was paid out to chuheS in grants Administrative expenses were hryher 21.642 17.707 30,6C6 1,228.838 21.469 41.233 -15.520 -7,5S9 -915 1 235.035 After recognisiThJ losses on inves1Thl propert other assets of £3,716. net income for th• year was £1,168.98312022.' net InrrE of£230.051 after investrrtnl 98ins of£292.3871. Upwarf revaluation of treehold propety IreaSed funds by £30.00012022 £270,C(10)
Basingstoke & Reading Methodlst Circuit Southampton Di¥tric( circuit number 2614 Annual report for tthg year ended 31- August 2023 Thè Balance Sheet sWnrr4 as$8ts. liabmths. and Net assgts lend thu$ Èggr8gate fvndsl at 310 August 2023 £8,526.700121X22". £7.327,7171. The increase in net assets of £1,198,983 r6sutts charvJes lo assets and liabilitie5 as fS.. Investment valualKsn hxses Investmènt So W purchases Revaluth"on Of0F¢rataI proFerbes ProFerty and transferred from ck)sed (urche5 Net income pas&ng through M(thl Tnjst Fund In¢orne in net csjrrent assets. including Funds to be tran5ferwpd from dosed churches IrK¥e8se in net assets -3,716 -1.303 30,000 1,165.000 5,919 3,083 1 198,983 The Circurt's n•t assets art held in eilher end(nL restr or unrestriGtsd funds. A full anatysis of tha indNKlual fvnds. and thè obj&tives for whth ir0M0 andlor capilal may bg appljad, is provided in Notes 20 to 22 in these finanud statemènts. Th•s• funds summarised as follows". Endowment The IncorrE from th fLmds ts ¥M)lied to ministy within the The capilal not availab18 lor use" Restricted funds Available for financing caylal SChen- AJ1hur Newbery Trusr Availabl¢ for fundirg Venue eXFeThjr• as speo"fd by donors 232.457 2tr2,948 14 762 217,710 nr ans• eapital fvnd lequiv8benl to the value ol manse and Investrnent proFerth•s} Circuit Mle1 Tnjsl Fur. for farKffig churches. Fwryrty and mk8sTr schemes throu9h grants" Funds available for finandng Circult octas•)nal expendrtuTe'. Circuil devèk)pm8nt lu1. ts tsining and rrth55w w0jts Youth work fund Kents¥oc%l luntj. for SUPF¢rtiig chwd small td1Th3 7.605.000 119.438 32.336 42,309 FuTh1s lor fth•ncang CwcJJit annual opw8bry exbj G¥n&r•l funds. for all purposes Manse maintenance lund. for repm, Thinl8nanc• rurbihrnen1 259.540 50.246 309 786 8 526 700 4. RM•rvM polkl•• The Circurt is r8quir8d to hav8 regarfing thÈ Val ol resèrvas lo be held In respect of ftjnds lor finanTrng Circuit 8nntJal ow8ting oxpendrture. Polt 8re nol qUIred in respect ofothef fvnds since these are not he primarity for rtsVen pu$¥5 and thèrè are restr$ on how the funds may be Ltsed. The funds marted I'l PJ• mw)aged by the TNs¥$ for WthodK8t Church Purp06es. The Cirturt'5 annual operabn9 expendthsre includes the ¢o$l ol min15tènal and lay staff, provision ol manses. travel and administratNe expens8& and nIntR)nS to the Methodist Soulharnpton Distr¢t and Methodist Church cèntral fijnds This expen(Jrture ts lunded by asse55men15 On the Circuit's ehur¢hes. invesbint wwrre. rents on surplus manses. and contnbutytsn$ from tha Model Trust Fund. Assessments on ehurehÈs a cakuEated as wt of the Circuivs annual budget prsS Incre8ses in assessnwts on churches a lirrthte(J lo 10%. and NJI than 95% of a church's Inme(70% if the ¢hurch has no kttings ineon from rts IlId1rJSI. Thècircuit's budget tsfieets thè Imp3¢tofanbty"pat&Y ch¥n9ès in staffing levels. the m3inlen¥nce nèèds of its reshlential propty p1[013, and any arr•xnts ttj bè drawn from reserves to support thè planned expendrture. The Circuit Megb'ng approve8 the 1gl ond as$8ssnnts, and Ihe xrrx)unts to be carried
Basingstoke & Readlng Methodist Circuit Southampton Dlstrie( ¢ir¢uit number 2614 Annual r•port f¢f the year ended 31" August 2023 Proposed draW9S from the resInc lunds of thè Cireuit to assist ehurthes wth buildin9 ImprovemÈnts Ir)rOwerS lo MSeS are c(sre¢l and apwed on a easÈ-by<8s¢ basis by thè Circuit MÈeb"rwJ. In seth.ng its reseNes Foly th& Cirujrt meeb.ng o)ns¥Jets the firbancyal health of the churches in the Circurt whith has impacted on Ihew at4lity to fund the anrn Circuit asswnnt The Circu5 reseryes policies are to mainlarn al least A general lund baLar 01 £150.C¥X). sufkEnt to cover three mcffiths. running costs., and A mansè rrAintenan¢e lund IMHÉan of at least £S0,OOD, suent also for thf88 months, running 5ts of 8pproximatety £20,0 £30.t(Q for Unexp rep8Ws lo m?nses The balances on these reserves al 31 August 2023 were £259.540 and £50.246 respethety. The ex$8 on Gert Fund over the of £150.(KK) wll be over the next three years in fvnding expectèd bu(Igel deficd3. The CiTcurfs budg&t thè yw commencing 1 September 2023 Sh nel expenditUTe of£77,566 on Gèneral Fund and 8 suwus of £18.948 on Manse Maintenance Fund. The General Fund deficit wll be pèrtty lVed by a transfer (rom Mare maIntenar Fund of £t9,IM)O. being the an11pated excess over the 01 £50,IJC(S. Inotees oJnsJer the Circuit to be a wng corwn. J5. InvMtm•nt pollcl•• In accordanc• with th¢ stsndifig Ordersofthe Methodist Church, the Circuifs investwt$ are managed on rts b&haLI by Ihe Trustees for Metwist Church Pufposes (fMCP). Cenlral Buildings, Oldham Street Man¢hter M1 1JQ TMCP as custcx1on tru$te& ts am held by Circuits. for all large bequests I over£20,0001 and forthe ofs ofany property where the CiroJitwas managing trustee. These sums a ur¥lA8ed inves1Thnts or W on deposit. Short lem d8pw.ts are rfJged wth Central FIne 8owd {CFB} of the Methojist Church. Thè Circurf$ Investrn1 po 81¥nerJ of TMCP 8nd the CFB because Ihase organisalion5 take into conshkntK)n ts scoal, environrrtntsl ethKal Issues, both negatively and potivety. that make VeStnts sUrtab lty the IAethodLsl Chu¥¢h. 6. Pay and r•mun•r•tlon poNclOB Min151er5 are ststion811 in the Circuit by the Mellyyjist Confere1e. Miftislers, remuneration is sel nBtionally by the methOdt Church. Ministers are TrMbers of the Methc¥Jist Ministers Pènsion S¢hem•. Conlributrjn rateB are 8et nationalty by th• M•thcrfltst Crch. Lay amploygtr5 •r¢ directy erWed by the Circuit Lay emFloyee remurratyon is based on the Methodist Church's guKlanc• for t setting of w r¥tes tr * WpKt$. Lay •mpknyè• pay rat•s are excess of the Nats)na LNty Wage. Tht Circuit off•ts a Fénsion scheme to its lay employees. The Circurt mches * wry)k)yee contrthbons up to 10% of sry The minimum employer contn'tIon rale is 6% No member ol staff is p8KI In exee8s 01 £60.000 pei annum. Infomthn the paynwnl ol eXFer lo trustees aThJ remunera of key management personnel is discktsed In the not•s to ts Cir¢uil'8 •>>wn 7. Stryeturo •nd gov•m•n¢• The CircuÈtwasestsbkshed in ¥xr(larKe with the Constilut ofthe Methodtsl Church 1tsorganlsatn 15 Structured around its bb4nnual circurt Tr"ng. The Circurt also hdds bannUal gatherirNs to which mbers of all churches afe inwted for worship. di¥ussK)n. prayer and athrties. The ofthe crt 14qeetW the tNsl88s of Ih8 Cirumt. The CirCrt Meeling )mpriSeS tha Circuit staff and officers. and tepresentslNes from chLsrch in th8 Cirojrt and the ttal preachers, meeting. Each chutth (x)un¢d and Ihe phr¥ FrEeb"ng eléct reKKesentatives to the C¥cuit Me81iThJ annualty. The Circuil offK*rs are apNNnted annualty by Circurt Meeting.
Basit)gStok• & R•ading Methodlst c11t Southampton Distri¢( ctscyit number 26M Annual r9PQrt for the year endgd 3111 August 2023 en apwnted. trte8S are to corwe a related party questKJnnaFre and, at the start ol each The Circurt meeb.ng ts supported by separate TnIhty meeb.ngs of ordained staff and fArcuit slewards to conduct daY-tr&Y and conswjer matters to be broh1 to the attention ol the Circurt Meeting. The Cifruit Leadership Team's resFrf)n&thlrts inGlude circurt strategy and vision, resource planning and oversh1 ol prob&On5 and candwjates. A numter of fowsJ 'Gettthig 11 t)one' and 'Speci81 Interesl. Groups foc{Js prayer, prewation ofworshy materia15. airanging Circuit gathèrings 8. Admlnislrlve dolal These details are provId on page 1 to th888 firwKi81 Statets. 9. Princi1 •nd une•rfainli•• The major rlsks to whth the Cirtyjrt ts èxposed h8ve been l(lents by tho Circuit Me8trng 8nd arè listed bel¥. A mapx iisk is defmed as one Ihat, rf r&Ised coukl fvnd8rrentslty offxt Iha way in which the Circuit oaleS or hwes ts outeomes in the ne )e io three ears Risk Ev8luab"on Commènta Churches cannol afford to th8ir Mcrfjefate Th8 Gircuil tak6$ into %counl church ' assessments This would affect the whèn sèth'ng assessments on of the CirGUlt to fijnd Staffin thurches. The Cirojil Cannot mairttsin r¥sKlenbal Surveyors carry out inspecb'ons every fve years to 8SSi5t planning repairs and m•ntenance. There 15 6uifici8nl In the M(MJel TTUSI Fund for works n••(1ed In the medium temi There is a ConnexioAal $hortag• 01 presbyters, and sometimes v8canues (gnnot bg fi119d Immediatel Thè Circuit v6 heavFly dendent on su¢h iThJNiduals and t tim& thalthey commil to the Cir¢urt's lifè and work. At present rrost Ex)sts are filsed. 11 churches $8 operate, thè Clrcuil may ne8¢ to bgcorn m#n•ging Irusl80 for the srte Lty¥ The CTrrDJit ts unable to Statn$ wrth 1141cxlarate pSt¢ytets, d&Kons or lffji stsff wl)•re ropnale Th¥ Cir¢urt 1$ urtae to attr CIr1rt stewards and other 0 hohjers appropriate Skil and expwknse Churc1 ¥re un8bl& to olhce , Motter holders with sufficient tiTh, skj'lls and I eXpese to enab them to conkn'nue i eratin 10. Furth•r InferntIon Iflurth•r infomMtKJn Is wuired on th• Ctrcuifs lrfe •nd vAIn, first contact Mr3 MOn Youn9, at the Cilrt olfice15ee page 1}. 11. Stsl•m•nt oltru•tM•' rn•pon•lbSlltle• Chanty requires the Cireurt Meeting to Wep8 financial ststerr£nts for eath fin8no81 yeaT. which gNe a true and f'r vie of the stste ol the Circuit as at Ihè balance sheet date and of its incomin9 reswrces and applubon of resources. including Incorre and expendrture. lor the finanu81 year In prnn9 those f881 statam8nls. Circuit Me8ting are requiTed to". seleci suitable 0)untIng and then appty them Consistent.. make Judgnts and eslimates Ihat are reasonable and pwdent". slate whether apate acc(NJnbng slaThJaft1s have been folky•MI, sublt to any matèrial dèpartures disdosed and expi4in&J in the finar1 5taterrtnts", and prepare Ihe financial staterrts on the w"r¥J concem l)a5i5 unlèss it is inapwopriate to presume that the charity wiu ¢onb"nue that bssts.
8asingstoke & Reading Ilethodist Circuit Southampton DlstricL clrcult numb•r 2614 Annual report for th• year end•d 31¥1 August 2023 The Circuit M8eting ar• T8$[1bha Mtrin1rj pw cOUntIng recc(ds which disc105e with reasonable aCCUfacy at any b.me Ihe finanGKAI posth.on oflhe tharty enable them to en5 that the financial staterrents wilh the ChantbesAct2011. They e also resnble for5afeguarding Ihe asset5 of the charity and hence ts taking reasonablè stèps ft>rthè prn1)n and dèt8CtK)n offraud or other irr8gukant. SvJned o Cir¢uit Meetmg n Beukes hair ot Meebng 28 F•bruary 2tr24
Basingstokè & Reading Methodist Circuit Southampton District, eirtuii number 2614 Anrlual rnport forthè year ended 31# August 2023 lfidependgnt Auditorf¥ Rwito tho Trust of Baslngstokn & Reading Mgthodist Ciwcuit Oplnion have audited Ihe financwl statements of Basingstoke 8 Re•YiThJ Methodi51 Circuit lthe'charity'l for the year ended 31 August 2023 ¥A)Kth cowprEe the Stmert of Finwcial A¢INe$. Balance Sheftl and the Cash Flow Statement aThJ noles to the far1 ststerrEnts, wjdudirg a summary ol signrfjcanl eounkn.ng pol. The ffinana repyb'ng frame4th that has tttn aWied in thèir prepaTalion applicable law United kng(hyn Attounting Standafd5. irKludmg FRS 102 Yhe Financial Reporting Stsadwd apptscable in the UK and Rewblic ol IreLaThf Iuntsj lQngJom GerTal Accepted AccountirvJ Prath"cel. In our opinion the fmor¥>al Stater give a true and ofthe stats of thè chty's affaws as at 31 AugLt2023 and ofits incoming have been property prepared in xcordance wth Unitthl 'ngdOM Gerr81ty Acceptsd A¢¢ounting Pr?Ice., and have been prepared in accor wth th• rwbr•rnnt8 of the Act 2011. Bast8 for opinion nducted our aLKlit in a¢cordaThx with IntematJnd Standards on AJiting IUKI IISAS IUKII and applicabte law Our lesponsth1rt uNJer Ihose slandds arn further descnbed in the Audittsrfs rèsponsibilitw for lh8 audrt of the finanual ststewits Sect of wr report. We are Independent of th• charity in accordanct with thè rw4UireThrtts U)at aw rtslèvant to our audit of th8 financial 3tatements in the UK, Indudlng the FRC'S Ethul Standard. and we have lulfilled our glht¢sl responsibili$ In dance wrth these requments We believe that th¢ audrt •vK1enc• we have obtain8(I s sU1t and approprth to pro¥KIo • b$ 8udrt Opin•. Conclusions r•latSng to goln9 conc•m In auijiling the financ¢al stslenwts. Itave c£rtJjed that the Truslees. us• of Ihè gth'ng concam ba$b of o¢countir•3 fin th• Fep•r¥tb)n of ffinanclal slatsments N appropTsate. Base(l on the wort w• have perfom)ed, tth• not ljentified any materi81 uncertainties relaliftg 10 events crf ¢10n$ thaL indiYKIIty oi cdlethety. rroy casl sKJnikant doubt on ihe charity's ability to continue a5 8 gn9 concern for a per olat oth5 from Wh the financial staiemènts are 8ulhorwd for Bsue. Our respon$ibilw and Ihg resnsIbIlI18$ of thg TnJ#t80s ¥Ath rèspect to golro concgm are d8scnb8d in th8 rd8¥ant S8ctions of ths reFUt Oth•r Inforniatbon The trustees are rosponsible for Ihe other informatson. The other informaln comprises the inforrnalion Included in the annual rewrt. other than the fthanoal slatewrts and our audrtcjfs report thereon Our opInn on the finanel stments dces not the other tnfrNmat)n and. except lo the extent oth8Thvs8 •xpl1y ststwj in our rem we do not express any forn ol assurancè ndus4on ihereon In eonnectKJn wrth our aLJitof the financial staterrents. our responsibilty is to read the other information and, in doiThJ 50. whether other inforffodon ts malerialty wKonsi%tenl wrth the financial ststements or ¢)ur knowlèdge ¢)trrtaM)ed the audrt of otheIse apats kn be m8ten.alty misstated. 11 We KItfy such matenal irthnSlenc ty appwent matefial rrthsstatements, we are reqUId to detemiine whether there is a matenal Mlaternent in finanual statements Of 8 maledal misstaleffnl olthe olhgr infr)rnwlion.11, basgd on the w)rk we he performod, w• conclude that thefe is a material ff#sstatewEnt olthi5 other infoms5ix)n. we are requi to reFJt th&t lacl. We have nothing to f•Kx*t in thi% r8gard.
88sing5toke & Readlng Ilethodlst ¢I1t Southampton Districl circuit number 2614 Annual report forthe yr ended 31" August 2023 Matt•Ys on which we are requirnd to report by exception We have nothing to reFth in respect ol the follwrs mattets there the Charth5 Act 2011 requires us lo report to you rf, in our opinKJn' the inf0m)at given in theTrustees' Annual ReFrt)rt 6 irK¢ytsthnt in any matenal resF¢¢t with the financial smements., Sulk1 acrAJunting rS havè t bèèn kept or we have not recwed all the fftfwrr•bon and explanat'orys we require for r audit. Rospon$lblllll8• oltru•tw• As expkined re luW in the trustees, [)bltS staterrEnt set out on page 7. the trustees are re5pon51ble lor the pwaralpjn of the finBn¢o1 staterrts and for bew sab5W th81 they give a true and fair view, and lor such Internal Contr a5 thè Irustees (lelermine ts rceSSary to enab the pr¶tn ol fjnatKral staterrwts that arg free fr{ rnatersl mtsststennl, whether due to fraud or error. In weparing the finBncwl statem, the trusttes ¥w rosponsbl8 lor assessin9 th¢ ¢h8rity's ability to continuè as a going concern, dthwng. as appIable, matters rgbt•d to goirrtj concem and usin9 the ng Conrn bags of accountsng unless the trustees ether intend lo liquate the charity or to cease Operntn8. or h&¥0 no WIIS 4twntho bul to do go. AudltoV• rpOn81b1jltl f<y th• audtt ot th• flthfftcl•l stst•m•nts Our obJ'ctiv$s arè to obtain reasonabl• assuranc• abwt whether Ih? finand81 ststements as a whoL are free from matenal mLsStsterl whether due to traud orerru. and to issue an Avditois, RgkKM that includes our ow'n. Reasonable assuranc a hh thl of assurance, bul Is not a guaranlèÈ that an audr( conducted in rdae wth ISAS IUKI will aw$ tecl a materol misststem&nl whan it exists. ML8StateThnts can aiise frcrfn fra error and afe ¢on$hJ6r matsn.al Il. Indiwdualty or in the aggregaie. ty wikl aSona be exFWted to influerKe the econ0n decAsions ol users taken ¢)n the ba&s of th•se finCIal slatements. Becaus• ol the inherent limitstThs ol an 8J11, there is a riBk that wll not detect all irregul?riti&$. in¢ludlng thos• l•adlng to a material rriMtateThnt in the finanoal $tatam8nts OT fa¢0mpli8nce wilh regulatson This IrTeaseS the ffwjre thal corn18n¢e Igw ¢y regut)n is ferTh)ved Irom the events and trans8clr0 rtllecled i) th¢ financial StAtents. ay we Tr•AII be18ss likaty to become awar8 ol Instances of non-comp1nCe. The risk is s0 greater regardirKJ irregulantses ottumng due to fraud rather than error. ag fr8ud Invofrles intenbongl ¢¢rt8alml l(Kgery. collysion, omtssw)n or miSreprnlatw. Irregulwities. Including fr8ud. arn mstsrtts of non<)myiaThx wth laws and regulations design pr0¢8<1ures in lino wrfh our responsibilrties, ouuined above. to ¢Jelect matenal misstatements In respect of irwulanD"es. induding fraud. The extent to wht rjjr Kdle5 capable of delecling irregularit*s, in¢lu¢Jtng fraud, E delaikd belchv.. Erquiry of m8nagerren( te thwged wth srnare SF the ontity's solthr5 lor in.hous0 gal team) around tUal 8nd r#)tenbal byislab.on and claiffts. Enquiry of enw staff in tax coWvance frjncbons to Klenbfy any Instse¥ ol non-complian wrth Lthvs and reguLth)n8", RevM¥irwJ ruleS of WEets"r of ¢hW govemance. ReviewirwJ inlemal audrt reForts' ReviewiThJ finanaal slatement dk)Su and tests'rvJ to supp)rt documentstr)n lo assess cOmplnce wth appl¢atAe Iws and regulatr.. Perfomiing audrt work over Ihe nsk of manajernnt overr%le of trolS, irKlvding pumal entries and other adj¢Jstments lor app[n8¢enesS. evaluating the business rationale ol STrC8nt Iran[onS OUtse the nomBI (#yJrse of business and ViVIng accwnting estsmate5 for bias. io
Basingstoke & Reading Methodist Civcuit Southampton Dlstrfct. elrcult number 2614 Annual report for the year ended 31" August 2023 A lurther drtIOn of our reSpOr4b1l1tieS fDr audit ol the financial StateltS is kxated on the Fthancial Reporling Ctyjwls webs.rte at. ¥h.fr¢.uk1aUditQrSreS[tb1llttss. This description forms part of our Au(thtots' Re1. Us• of oyr rnport This report ts made SOlY to the thanty's trustees. as a tfjty. in aca)rdance wrth Chapter 3 of Part B ofthe Ch8rrtBs Act 2011 and reguLgt)n5 made undpr se¢bon 154 ofthatAct Our audit work ha5 bn underten 50 Ihat we rrright ste to the chwity'5 trustees tlw matters we are Tequired to state to th8m in an audrtorfs raport and br no ithr wrpose To the extent permbttèd by law, we do not accept or assu responwbilty to anyone other than the rtharQ¥ its trustees as a bcrfty. for our audil worK for this report, or tr the Onh)n$ have formed. Darren O'connor (Honsl FCCA FCA senK St8luknyAurfrtor For and tehaif ol Jarrns Crywper Kreston AudiL AudTrtar Jam¢s Cowper KrestM Alhjlt b dl9lbbe to ac as an auditor In 18rms of secb"¢)n 1212 01 the compani kl 2C Readin9 Bndge House George Street R•ading B•rk$hire RG1 8LS
BASINGSTOKE & READING METHODIST CIRCUIT STATEIEIIT OF FIWICIAL ACTivmES Forthe yearwKkd31 August 2033 Mol• Unr19 funds R•Strk Endowm•nt Toal 2023 Fwmls Fur INCOME A14D ENDOb)IIENTS Donab"ons and legaligs Charrtable 430.829 1.261,369 Other incom In¥esknents L•ttiThJ$ wK4Jme Inv8slment iro)m• aryl 85.337 1.176.032 135.(45 3,649 135.045 28.856 1.292 T•tsl Ineomo and •ndty 538.828 1.314.726 1,053 1,292 1.8ss,899 expENDrruRE Charilabkn 0xponUrO Stip8nd$. salths and ttAts S 329.524 A59essments and l• 109296 Man8e runniTrJ costs Grnls w)d donat¥ 329.$24 112.565 130.208 31.020 32.394 44,574 3269 1x1208 12.0 10 18.1>)O 32.394 16,704 120 othor outwr•Js R*8ir+g bJnd8 27.870 1,686 2,915 SC6.725 174.576 213 1.686 683,200 N•t Incom•ll•xp•ndltw•) l>•lorn Invostm•nt g•Sn•llo• Investsrent rèalised a Ur80"8ed 32.103 1.140,150 840 13941 1.172.699 15 16 8.$00 112.2181 Other 17.131) 15.0851 N•t In¢omthll•xp•iidliurèl b•fov• 32.103 1.148.650 162911 IS,4791 1.168,983 Transfern tetrt fuThJ• 114.5(Kl) 14.500 30,OLKI 14 30,000 17.603 1.193.fSO (62911 {5.4791 1.198.983 Tot81 hjnds Mfo¥•d 241.937 6.623.843 224.)1 237.936 7.327.717 Tot•1 lund• •131 AuW2023 259,$40 7.816.993 217,710 232,457 8,526,7QO The n¢)tes on pago¥ 14 t$24 fLYm pwt of1? FinaNial Slatem&ts. 72-
BASINGSTOKE & READING METHODIST CIRCUIT STATEMENT OF FV4ANCIAL ACTMTIES For the yvar•nded 31 August2022 Not8s Unro8tii¢W Funds R•Str Endowm•nt Total General Designat8d Futhds Funds 2022 Funds Funds INCOME AND ENDOIVMENTS t)onations and bJacEs Cttaritab income Assessments on chuths Other income Investments Lètbngs inWIIO Investmenl in¢oTh aThJ intsrest 607 607 408.987 408,987 7.607 7,PJ)7 104.439 104.439 11,149 10.199 154 189 Tot1 Ineom• •rtd •ndowm•nl• 419.186 113.260 154 189 532.789 EXPENDITURE charitab expenditLtr8 Stipends. $8lanes 8nd 85gxted costs Assessments and bvies Mansè running ¢osts Grgfits and donation5 Adminisiralion and trav Other outgyngs Raising funds Inv$thitrnl man¥gement ¢c4ts Total •xpendlturn 329,093 110.284 329.093 116.106 68.975 15,500 24.835 37,497 68.975 31.eoo 10 116.1001 24.835 15.761 21.736 858 474 93 1.694 3,119 464.731 128.607 93 1.694 595,125 N•t In¢om•ll•xp•ndllurn) bolorn Imilmont galngllom Investment realised & unl11 g•HWlk)88e81 Investment propertms Other inveslmerts 145.545) {15.347 61 11.5051 182,3361 318,750 318,750 126,3631 16 111.2561 {15.1071 N•t Incom•ll•xpendlturn) Ixlor• tr•n•f•rn 145.545} 303,403 111,1951 116.6121 230,051 Ttsnsfers behveen fvnds Rèvalu81]on ol Ireeholo proFty 43.271 143,2711 270,( 270,000 N•t mov•m•nt In funds 12.2741 530,132 111.195) 116,6121 500.051 Total funds ht foThMd 244,211 6.093.711 235.196 254,548 6.827.666 Totsl lund* •131 Augu812022 241.937 6.623.843 224,¢)01 237.936 7.327,717 The ststemenl of financial thities incfudes all gains and losses recc8nistid the year. The nole5 on pages 14 to 24 form pwt of these Finanoal Statements 13-
BASINGSTOKE & READING MEfHODIST CIRCUIT BALAIICE SHEEr As at31 August 20Z3 2023 2022 FIXED ASSEf8 Freehokl proFert", marms Investrnent proFert Investments 14 1S 16 2.875,( 4.730,0 566.040 2,430.000 3,971,500 573.640 ,171.040 8.975,140 CURRENT ASSETS Debtors Contral Boanj depo Cash at b8nk 8nd in hand 17 132.703 296.342 16,187 33.550 8,510 16.985 445,232 419.045 Cr•dlto Amounts l¥llirrfJ due wthin on8 year 18 89.572 e6,468 N•t Cuff•nl Asoots 352,577 NET ASSETS 19 8,526,7C¥) 7,327,717 FUNDS Endowm•nt fitnd• R•strkt•d lund• 20 21 232,457 217.710 8.076.533 237,936 224,001 6.865.780 Unr••trlct•d fund• 8,526.700 7.327,717 Th& FinancTral stai•M• aFvovad ty th• Managry Tnjs1e on 28 Fe 2024 •rKI ¥r sgnèd on their behaff by- v Mgrbn Beukes Chair of Meeb'rvJ Peter Board Cirtubt ste•Mrd & fmarKe sewlary The notes on F•ges 14 to 24 lom otthese FH)wl *tements 14-
BASINGSTOKE & READ114G IAEfHODIST CIRCUFT CASH FLOW STATEAIENT FOR THE YEAR ENDED 31 AUGUST 2023 2023 2022 Ca8h uwl In operadng acllvlues 25 (232.2511 1191,1551 Dividtrnds, InteSt and rents frrrfn inve8trnwts Proceeds trom sale of prorty Expenditure nded through investrn FQrtfol Purchase of investmfjnts Inv•stmonl sale woc8ds 163.901 115.588 {5.9191 112.5141 13.817 52.633 15,4351 5,308 Cash pmldod by Inv•thg •ctlvlU•• 159.285 168,094 IRe<lucti¢)nyincr•as¢ in cesh and e4sh equivnts sear I72.) 123,C611 Cash * ¢osh oqu¢wal8nts at the b0gMnw ofthg yogr 408,556 Tol•l ¢Mh and c¥h •qufvalents •t th* ¢nd of y••r 311529 385,495 -1
BASINGSTOKE & READING MEfHODIST CIRCUIT NOTES FORMING PART OF THE FINANCIAL STATEMENTS For the year 31 August 2023 STATEMENT OF AccoupmNG POUCIES Bas18 of Pr•paratlo The financial statèments tre tttn wepared in arXrfdar with AccountTr)g and Reports'ng by Charities" StaterrEnl of Recommended applicaL4e to chS prep8ring Iheir COUnts in accordance with the Finanual Reports"ng Standard aPpab in the UK and RebI ot Ireland IFRS 1021 leffeth.ve 1 January 20151- (Charrt5 SORP IFRS 10211, the Fin8wal Repo"ng Standwd applicsble in the UK anrj RepublK ol Ireland IFRS 10218s updat8d by BU1 1. and the CompanwTr Acl 20C6. Thèse statements are denominatgd In Sterhng. rounded to the rwrest £. The 88singslok¢ and ReèdirvJ M8tlbJdtst CJ m8 thé doffinitw)n of a pubhc tenefit enb.ty undér FRS 102 The accounts have teen Prepared Ihe b85ts d hist1¢ eosl except that mve5tswits and proFeS are 51KMn èt T market value. Based on the monetsry as60ts and human resourts Waati10 to tr CKwlt at 31 August 2023 Ihè trust•es beligve Ihat the ¥counts should be ppared on a gow cr)ncem basts. Fund A¢¢ounllng The funds constrtute". Unr•sth"¢ted fijnds whh general funds held for #ny of th• CirwiL the Clrcuit Model Trust FuThJ whth has wNle purposes dèfmed in Slanding Ordets and r4 categonsed os unr¢slricted.' 8nd other desgnated lunds that are 1th1 for wrwJse8 W by the Circurt Meeting. Restrthd lunds are ftds onty bg used fof srth resirted purpos•$ as Igwj dtr•4n by Ihè donor, Endowment lunds whh represent gifis thal as capital to generate incime that 6 available lor erther restrted or Un$teted purF¥)ses. In¢om• •nd •ndowm•nts l inwning resources aT6 Ind in th• Staterrnnl of Financol A¢bviW wthen th& Circurt bècomès entitled to Ihè sOUrCeS. the tntstees are rtUty CtrIn Uigy wll recdve the resouf¢8S. and th¥ monètary valu8 con ba measured r8liab'lty. Expendltur• Resources eXPed we wjunted tr on an Xual5 basis. ExpendrtLtrn is recognised when 8 liability is Inrred Of a constructive oblKJat)n arises that resulls in thè paytrt being un3¥dab1e. The Circuil is not VAT registered so expendrture Is slated IrlU$e ofVAT vthere apb. Grants Grants by the CIrrt are rec03Th$ at the b.me of ayraement 10 pay Iwlhout perfom)ance conditions), or when it is atrxpted the is oblKJabryi to pay lif Subj8 to performance condstionsl Where granis ttra pryae over more than I year. the XCTual is dtscounted to net present value rf lh¢ drffgren¢• Is material. onnexlonal don•. •edng a• ag•nt The Circurt acts as 8g8nl in cxjlkcting from churW and ihen paying t)ver their contr¢butsons to various Mèthod$t connexal fvnds and other exl•mal org8ntsabons. These transactions are therefore not refleclad in thè SOFA but are disclosed th Notes to the Accounts as r8quired by tha SORP IFRS1021. 19 12. OwneTshlp of M•thodlst property Under the Methodist Church Act 1976 th• owrrshy of MethodL%t proFety in England, Wales and sCoand YAS on 16 Apnl 1977 autnatOI transferred to the Trust&s for Mathryjist Church Purp)ses ITMCPI PTOFaty inCe$ stc<*s. sha. unit tJust investinents and all other securits.es as well as land. buildings and cbattels. TMCP hokts such pro¥ as custodw Itustee5 Tl)e management ol this prOlty is vested In the ret managing trustees must acl in wxdance wth the Modd Trusts and the StandiTWJ Orders made under them. The prowty forh are mana3ing trustees ts inchjded in the Circvit's xcounts. 16-
BASINGSTOKE & READING MEf+ioDIST CIRCUIT NOTES FORkllNG PART OF THE FINANCIAL STATEMENTS For theyear ended31 August 20231¢onfdJ STATEhlENT OF ACCOUNTING POLICIES (contlnu•dl Tanglble flx8d •Js•ts Assets a caFytahse(l rf they (an be used lor than one year ènd eost more than £2.500. Freehold woperty ts stated ai mathet v&Je, vthKh B Teviet(l annu01ty olfi equipment and other an1 IS 8tsted at i>)st Depreuion is cabJIa on th& strawjht ITh basts * 20% on cffte equyrwl and other pLqnt but is not provi(led on freehofvj pro¢ ynce this revalued annual. Invostmfrnt prop•rtl•• PrOpertS that 8re no bnger fequired as martsts at• hdd os invest1 pYoperts. Th$y re stated at mark•t valug. is annuaty. Fln•ncll In6twm•nts The Circuit onty has finandèl Assets and of a kind that qualify as basic financial instruments. 8•sK financial instruments are inibalty rcognised at trans8ctKJn valutr and subsequenuy measur8d at thwr settlement value vthh the ex¢aptn ol bank klans arn subsequenly measure(l at amorbsed ctsst lJ5ing the effeclNe intetesl meth. Inv•slm•nts Invssbnents are indud8d at market valu¢ at the 3alar Sheet date I1)lment Income 1$ includ•d in the accounts vthen eable and any or k788tt on r•valuatKffi at the year end aro inelutJ•d in the Statement of Financial AcbVits. The investments we in monetary assets Exeffjt tha 8ryg$ Tw51 ndS whh are man8ged by Lloyd8 Bank, the Circuivs investment assets are hekl ty the Twstees for Methodist Church Purposes ITMCPI as custcYian Irusle88. Th& Valuat8. 01 m8thet v4uè. arn Ihos• •8 prov•Je¢l ty Lws Bank and TMCP as at 31 August 2023. St#ff ¢o•ts The ministers we W strpends at rates $91 MethcYl8t Conferen. Th lay empklyS are paid salan9s 41 r8les sel by tha Circu The Ciicurt makes payments to the K48thodist Mw?i3ters Pènsion FurKI and into a pertsh)n 8ch•m8 for its l•y empbyees. The charge wesents amount payable in resrct of the year. The Circurt ts requir&J to wovJe acCommotron for eh minister and their familEs. and ministers ar• expected to rUpY Ihem The CiTCUrt tears the c•)st ol repal'rs a1 mainlenance. wemises insurance, council tax and watèr ¢harges. Th8sa are not regarded as benefits in kmd by HM Revenue & Customs CRITICAL ACCOUNTING ESTIIIATES AND JUDGEMENTS Eslimes judgemrt 8re ttfjtinu#ty ev8lud 8nd #re bas•d on histoital expeTience and cUrnt la¢tors, inclut1irKJ expectsti)ns of lUtU events that are telwe¢ lo be Sonab under the circUmStar$. The Cirlt Iruslees make estimales and 3ssurylKrfJS corKeming the future. The resullJn9 accounting estimates and assumptKX)$ VAI. ty definitson,seklom equ the rdated xtual The onty ests"mates and assumpb.ons th81 have snrant of causing a material adjusbnenl to the Cartyng annts of assèts and liatslths vrithin the next a dts¢uss&Y Land and buildings The Carn9 values of land and Ik11rS wthin larKJibSe fixèd assets and wtvestment PTopertEs have been revwed by the trustees bas8d on a 5)rofessal vabJatTh for o)unts balance sheet dale. 17-
BASINGSTOKE & READING METhODIST CIRCUIT IrE$ FORWNG PARTOF THE F(1¢LAL STATEMEiirs 3 INTEREST & IPIrfESThlEMTVK Tot•1 2022 FwKIs 2023 Bank mkrest 11. 10,8 1.502 9.647 16.892 28.856 11.149 4 OTHER INCOME Total 2022 Funds Furyl• 2023 Fundmg for 8l•ff rrr on 21. 21.469 Grant ofevderwl •1 Trinty B•w'ryw Grant repaky by Tthy Chwfth Cktéd cnurctrth trzn#fèft•d 10 Circuil Funds Ir•rdferr•d from Trinity B•$ryce 1.165.tt¢J 1.165.(K 63,868 85.337 1,176.032 1,261,369 7,607 Vnr•¥thct•d Fund¥ fj sTF COSTS Totsl 2023 Total 2022 Fund Fuhd• Sllreryjs and sars Naib)Ml Irw8n¢• P•Mion tDnlrthw$ AweDbce8hip R•1(1 expen R•dund$n¢y pay 247.1 247.185 20.029 47.373 1.140 13.817 247.117 19.236 60.174 1.3C 47.373 13.817 329.$24 329.524 329,093 The ryni8tsrs Ore tho CffDJit by thè M##dt confernr )d 84• SloThJs at r8ts1 8gre8d by tho ConfoTenct The lay emtyoyees are emF4DrnS ol CtsrJJN are paKI 881•th at raios s•1 by the ¢rt. Th• vy Costy of thÈ rninisters and lay emr4oyees arn rnfieeted fft thÈ Tho rwnvnerniw of thosè metyknrs of &t8ff Senjr managwnent positn5 lie on tha Cirojit Le8d8r9hy Yewnl re É198.936 12022 £159.$02>, )d th• and N•lioMI Insut• contnbuihim v•a8 £261,28913)22." £213,4C@I. 12 8 ASSESSMENTS AND LEVES Totll 2022 FundÈ FndS 2023 1&178 18.178 .3 17,295 88.281 5,822 MethJdk8t Churc FurKI Contributswffj to Dtr1 FurKI ¢k)nr*81 Prwrty FuTrJ Iwrycffj 4,418 312 4.416 312 4.388 320 109. 112.555 116.106 18-
BASINGSTOKE & READING METHODIST CIRCUIT IKITES FORM11 PART OF THE FINANCIAL STATEIIENTS 7 MAsE RUNNING COSTS Total 2023 Total 2022 Fuw•ts FuThJs Funds 27,458 19.2fJ) 27.458 19.2fy) 83.550 20.825 19.200 22.0 Rent pay8t 1302OB I.2r 68.975 Total 2023 To1 2022 Fund• Fund8 Fund8 7.451 7,451 5,652 3.827 1,422 3,650 10.284 AdmIrstr8• expen PubltS Clrcust offic renl Trjvel experkses 1.974 1,974 10.587 10,567 32,394 24,835 g OThÈR OUTGOING8 G•nernl Pund• D•¥lgn•i•tl R••lrfcl•d EThlowm•nt Funds Funds Fund• Tot1 2023 2022 Audil le•s Professv)n41 168$ Property rnanagemeftt S ol ransom $lr¥ Othar •xwdrtur• 8.780 8.760 8.100 25.• 28.197 22.312 7.137 9.817 7.085 16.704 27.870 44.574 37.497 10 GRANTS AJID DIAT11)N$ The fc4kyhkng grants aweed FJ dLrykn9 the •KI ¢¥9gd lo ts ld8 concarned (See No1é6 19. Tot•1 Tot•l A¢¢nwd or Ir•l•M•d) P•ld 2023 2022 G•n•rnl fvndl lunr••trle Re8ding Unwersty Chap Thu1 IA8th(wJk%t Churth ft iiylyo8 17.5 18.¢))) D•#lon•hd f¥nd¥ N)del Tru51 Fur¥J of 8d Queens Road crther use 10,riyJ 10.0ts) 16,600 4,500 Ke[th0d Fund Smal grarrts p to ¢Nwches Cir¢uit Deveppnent FurMI 12. 12, 24,1(J) PayThnts 120 120 1&52 17.S(Kl 31,Oal 24.700
BASINGSTOKE & READING METHODIST CIRCUIT IIOTES FORIIING PART OF THE FINANCIAL STATEMENTS 11 VOLUNTEER CONTRIBUTIONS The CITlt B h88wty relBnt on w)hJnteets ¢ontruto Iheir and time in the fvrtherance ol the wts¥k of tr Cycuit prlty Ihts ojntribution is by seryirMJ as cycuit and manse stwdrds 8nd serving on groups that an ar¢uit events and meeb"n9S, SUPF¥)rt the ccU5 safeguarding work and the Circuifs stratsg Executive Gmup. No attampt has t)een by the TnBtees lo vJe the cQntrtIknnS madè by v(Auntegrs in 12 PAYMEp¥fs TO TRUSTEES Sevèral of the Circurt stsff are also tmst•os ot th• CireJJit. Tr Min1¥ we pabj stipgnds and travel expenses at ihe ral&s agreed annualty by the MethodY6t C(#)lereTrce The lay empWe&s who are Trustèes artr in lire wrth the wwwles of the Meth(vJk%l Church's F4)Jicy kn payment of lay empbyees The ministers Re¥/t1s Shaw. Br¢p•ne. Jenkins, Beukes. FBher 8nd Watson and D8a¢on Mana H¢>wgrd re¢•Ned sknpeTrds totallu)g £163.524. and Ihe * empbyees Mary Ludlow, Lee Frost. Peter Frank and Marion Young received $818ry paynts of £70.041: tr total was thus £233.56S12022.. £220.8071. Som• of th• members of Circuit may have rtcei¥e p#ents frvm the Circuit in their capacity as manse or property stewards where elther mainten8nce work Bl manse8 Trther than empk>ying 8 contractor or Irrred expenses connected with thetr roie. Other members ol the Circuit meetin9 m8y bg &mpW as a contr¥tor in conrKtion their ir¥de or business. Th amounted lo £rMI duiing the year12022' £ntll. Exper4•s PaKI trj membw5 of th8 Cwcuit M•8ty"wJ as lo. 2023 2022 Tra¥81 •Kn$8$ Pulpit siippty costs Office equipment and fvmiture Manse expenses reimtNJrsed Adm1ntslraln and other expenses reI[Sed 8.460 4,075 1.408 1,950 2,477 18 360 7.374 3,4 2,203 1,284 14.261 Numtef of trustees were pa expenses 16 21
BASINGSTOKE & READING METHODIST CIRCUIT NOTES FORMING PART OF THE FINANCIAL STATEMENTS Fo¥tho)wendBd 31 Aullvst3033 (eontd.) 13 PENSIONS Circiwt pays 8 e4fttr1t of 36.9% Crfslw to ts stheme. It is ncl potAtIO Ihe Circufs shar8 of assets and tsa"68. Th8 resuhs d thè latest cunplel•Y vakb 8$ at 31 August 2020. a Bub5eqwrt interirn valuatic as at 31 AW 2021. LwJth assumll)g Ihal Ihe Scwn8 cofit8iu into the fu1u. We as $017 4B7.5 -142
7.16%
4985 5743 75.8 115.19% Actual valu8 ol assets sjrplush(trIII.l n¥ssets Fur¥j l•¥ As tl Stheme defiot at 31 AW 2020. • recrnry pbn wa6 Thtiated". and. in vi6w ol the recovery in finwLIW m•rk81s, on rterTh thalKm wa8 as al 31 AugLtsI 2021 and 8hrMed a rnuch irnprovvd tw. The mrAI wec•rt wds Luthrtaen as * 31 AwJusl 2023. and the Frfowonal rèsults (based on an unaudrfod ast valu0} ¥ funthJ The Scem•'s Aclu•ry •xpe¢ts tha final rasull also lo •hN 8 Jurplus. Cwcurts had been paying totsl ntlJtsC¥}8 * 26.Th of swd rBmunerabtin since S•pmber 2013. and cCrtritJl rate 31 Auwst 2023. Th8 Ccuit bekngs to a d&knJ rért¥)n operated by Thg P8ft8 Trusi In lire vjilh FRS102 28.38. thw• is tha cost rwiiMd li equ•l to th• )ntribthins payable fiy Iha kWKJ. 14 TANGIBLE FIXED MErs Lr BuikllnH• TotAI Valuaan Al 1 S•pt¢mbar 2022 Rev•lu#iion L•ng• 005.cw 1.625,OCQ 2.430,W) 15.ClJQ 15,0fy) 140.Cts) 275,CO) 415,000 At 31 2023 960,(¥JQ 1.915.0 2.875,CQ) Depreclatlon At 1 Septerthr 2022 Provi8th for Ihe r At 31 Aiiw 2023 N•t Botsk V•1 At 1 Septefter %Y22 805.CrfXJ 1.62S,OW 2.430,otK) At 31 August 2023 ge.() 1.915.r 2.875.OC Th• martw le¥ad ty the triAees ai 31 August 2023. a profeSSD81 vahtlltion for ar£ounts purp088s a8 at Ihat date by Has18ms, ChwterEd Sweyty8 hithcal value ol and buildings il Ihey had nc4 beon rev8W was £2.209,435131 Augusl 2022.. £1.870.6551. INVEsThlE1 PROPERMES L•nd Bullding• Totsl val110 At 1 S9eMber 2022 Cthed churche$ IrwMkned to the C111 RevBluion d)aNJe TraThsferred I[t) to ftyed 4*1tets At 31 Aug1 2CQ3 1.328.X 2.645.2C 777.DXI 3.971.500 1.165.OJO 8.500 1415.Q)01 4.730.fX)O (140.[ t.575,1) 75.¢) 3.154.5C poses a5 al Ihai dale ty H8slams. Chartered SurveyL¥s. tMbJe of land and btjllthngs if t been r•¥alL was £3.442.l31 A12022". £2.616.3491.
BASINGSTOKE & READING MEfHODIST CIRCUIT NOTES FORMING PART OF THE FINANCIAL STATÉMEtr4TS Forlheyewended31 August2023 (eont. 16 INVESTMEIITS 2023 2022 B¥l8¥xe * 1 septts 2Q22 Additions 'W5aLs Unre81ised g(1¢#•8) 364,2S2 12.514 113.8221 12,21 350,727 215,313 390.488 5,435 15,3081 26.383 364.252 209.388 ash held 8•l•n¢o •1 31 Au9U•t 21Y23 566,040 573.640 Inv8stm•nts IL$t on a rwThs&J Stctk Excharse or hehj in 350,727 95,876 119.437 364,252 Other in¥e8tments CiKurt Modd Trust cash hrJ 115,386 573,640 17 OEBTORS 2023 2022 SuThYry detr 25.103 s,ec6 Stspends paKI in advan¢e 21.048 22.884 I7.4) 10,dS4 33,SSO 132,703 18 CREOITORS 2023 2022 33,732 11,573 19.OC) 25.267 34,488 3,861 1,500 28,619 (Xher credito Grants Pgy)ie to ¢hurch&s Accruols 89.572 86,468 19 ANALYSIS OF NEf ASSEfs BETEN FUNDS Flxed kn¥•Atm Curr•nt Inv•thh•M A••ots In•tl Total Fund$, y•r er• 31 Au9U&t 2023 End¢yment fur1$ Restnthd fu 232.457 214.146 119.437 232,457 217.710 8,076.533 2,87S,CO) 4.730.OCI) 352.096 2.875,OCQ 4.730.1 $66.040 355.680 8,526.700 Funds. year ended 31 AuBu¥l 2022 En( lunds Rostrthd furtda 237,938 220.318 115,388 237.938 224.001 8.86S.780 2.430.fXKI 3,971,SCQ 348.894 2.430.IXKI 3,971,5 573.840 352.$77 7.327.717
8ASINGSTOKE & READING METHODIST CIRCUIT ITE$ FORIIING PARTOFTrIE ANANCIAL STATEMENTS 3ei 31.595 Athur NvAtsry TA#14345 ITIFI IllwJ Fund6 & TIF) Trus15447 In Arthur Ne%thry Tr 3eoo (TIF) AJ Bws TnAI Imanaged Prl¥al& BWWI 14.0121 J,557 337 102.407 237.9 99,763 232.457 13941 15,0851 NvA4)ery Tfu$I 4345 (fiF) urNethry Tru 4783 IM•fv(hlkt•¥B•d Mixed Funth & TIF) ui 14wAery Tnjsi 5447 ITIFI ur a9 ITIFI AJ Bty91 {m•n8g•d ty B•) 30.641 30.697 16.3321 94.$69 337 337 16 112. .77S 102 407 237 936 Tr• hMstrfnl garwaw ty bJrnlJ 5448. 4703 3Mg pj b) knj th• Crrfs d•rf lo ¢J•y runn¥N Th• Inv•ibrnni ty &4345 •ThJ Th• by thoAJ TnAt r4 to in ai AesTrK7eD FUP40S 11201 318 Edhh Baikryy 8wu•sl IswpJkn9 p•c¥•l 10. 11.2tr) Ihe 20B.437 7,1311 17.1311 202.948 224.W1 217.710 8eNJVoO lund Ih B•ikny B•qu•st p•> 10. 10.892 Ihe CITDJh} 41 111,VAI 209.437 235.193 61 111.2561 224.001 B•r¥01•• FLmd by n••* Ethth W Bffjutst WJ to 8LPPOrt InthvKlu811 thé £o&i ol thss pt41 bul hx ntyw b•tn dt4ed.
BASINGSTOKE & READING IAETHODIST CIRCUIT IIOTES FORIMIIG PARTOF THE FIIIAMCi4L STATEIAE14TS Gèrt11nd (day to4rw¥Yqc<ts) 241.937 .1(kl 114.5001 239,540 .767 6.401.5fyJ 14.500 50,246 7.605,{0 1.1$5.C {2AW) (11.4 YrMJth ¥wNkfutKJ 120) 32.336 9.973 119.438 C(>JrtAlcthl TnJE1fij 115.387 4.051 6.W.780 8,078.533 O•TrAI frjnd costs) 244211 145.545) 43271 241.937 18.333 {14.1)CO) 50.707 8,401,500 2,500 43,716 ,973 115,387 MIr l¥qkoIff1SI 5.812.7X) efj8.79) (6.8911 (3.fLKII ?1.78&1 K•nkn4wd Fj Igr•rf• Wo$) 12.9TJ le*.447 Pg3711 6.337.922 (9).892) 588,750 6.5.7$0 2J 7RAP4SFEIIS BEf4YEEN FUND8 AGENCY COLLECTIONS AMD PAIYEllfS Fthd Fur$ fw Frty 2,1 15) 1JO HL¥rto ISO 150 11XS ?.4
BASINGSTOKE & READING MEfHODIST CIRCUIT NOTES FORMING PART OF THE FII4ANCIAL STATEMENTS For the 31 August 2023 (confd.) 2S RECONCILIATK)N OF ioufGOINGV INCOMING RESOURCES TO NET CASH INFLOWS FROM OPERATIONS 2023 2022 Nel movement th funds {Gains)lTr)sses on vestrnentS Investrnent kyopertjes Othèr invostmgnts Investment Corne aThJ rent from lnvesbY Ck)sed churches transfrad to Circuit at no cost Ilncre8seydecfea5* in debtots IncreasecTea3e In creditorn 1.168,983 230.051 18,5001 1318,7501 12,216 26.363 1163,9011 1115.5881 11,185.0001 199.1531 23,104 5.014 118.2451 Not ea•h u••d In op•ratlng ath#l•8 1232.2511 1191.1551 Anaty•lB of c••h •nd u•h •quhtaknts CF8 dgPOSrts Cash at bank arKI in hand 296,342 16,187 368,510 16,985 312.529 385,495
stoke & 41 . * c;hange'" Clrcuit Office, 84 Queens Road, Reading RG148W Telephone 0118 926 2910 or 07801374338 Email: hboardlo btintemeLcom )Ixiplr¥hsp Heb 10 v2&25 ethodist CirGIS James Cowper Kreston Audit Reading Bridge House, George Streel. Reading RG18LS Dèar James Cowp8r Kreston Audrt The following representan8 are rnade on the basis of enquiries of management and staff with relevant knowledge and expenenc8 such as we consider necessary In connection with your audrt of the charty's finanal statewits for the year ended 31 August 2023 These enquiries hav6 included inSpeCtn of suprM)rb"ng dC¢urrtatr.on where appropriate and are 8Lrfficient to satisfy ourselves that we can make each of the follo"n9 repreSentatn$. All r8presentatk)ns are made to the best of our kncNAadge and belief. General 1. INe have luffilled our responsItstst as trbAtees as set (yJt in the terrn8 of your engagerrt letter dated 14 Febnwy 2023, urKler the Charrt kt 2011 for ppang financial statements in accoidance with apF4icable law and United ngdom Accounbng Standards (Unrted Kingdom Generally Accepted Accountsng Pradw), for being satisfied that grie a true and fair view and for making accurate representations to you. 2. Ail the transactn5 undertaken ty the ¢harty have been prrwly Tellted and 3. All the accounting records have been mde availab to you for the purpose of your audrt. have provKled you wrth unrestricted access to all appropnate persons thin the chanty. ar¥J wrth all other records and related informats.on requested, including minutes of all rrkqnagement and trustoo meetlngs and correspondencè with The Chanty CoffThission. 4. The financial staterrts are free of wAterial mlss1atents, Iuding omis$ion8. Int•mal contvol and fraud 5. We knOwledge our resp)nsits'lrty for the desyn. implementation and maintenan of internal control sysletr6 to wevent and detect fraud and error. We have disclosed to you the results of our risk assessment that the financial stateThts may be misstated as a resuli of tra. 6. We have dBcktsed to you all instances of known or suspected fraud affecting the entity Invofving managemen( employees who have a snificant robe in inlernal control or Othe that c(MJld have a nwterial effect on the financial statements. 7. We have also disclosed to you all inforrrAiion in relation to allegatsons of fraud or suspected fraud affecting the enbty's fM)ancial statements C(Munat?j by current or former enwtyees. anatysts, regukitots or others. Circuit Offi. 84 Queens Road Reading RG14BW
Assets and liabililios
8. The dBrrty has satisfactory liue to all assets * there are no liens or er1Mbrances
on Ihe Charity's assets, except for those that are disthsed in the notes to the
financial statements.
9. Al actual liabilrlies. contiNJent liabiliiEs aThJ guarantees given to thitd parties have
10. We have no plans or intenttons that may materially alter the canying value and,
where relevanc the fair value measurements or classrfkn of assets ancl liabilrt
Tetlected in Ihe financial statts.
Aceountlng •8lknat88
11. The methods. data and sign"fficant assumptions used by us in making accounts'ng
ests'mates. arKI their related disclosu$, are approprots to aChe recognrtion,
measurement and disclosure that is F&3sonable the context of the applicable
financial reting franw>r
Loans and arrang•fflents
12. The charity has not granted any thances or credits to, or TfAde guarantees on
behalf of. directors other than those discbsed in the financial statements.
Logal clalms
13.vk have disckthd to you all claims m connethn with that have b88n, or
are exrctsd to be, recerrfed and sh matters. as approw, have been prowrfy
accounted for and dtydosed fft the finanual statements.
Law8 and regulatlons
14. We have disclosed to you all knon instances of non
- acknedge our legal respcmsibt"lits5 regarding dts¢k>su of information to you as auditors and confirm that so far as we are awa. thwe is no relevant audit infr*matwi needed by you w) ¢(ffine¢ttrm wilh preparing your audit re[ ofwhKh you are unaware.
- Each director has taken all the step5 that they ought to have taken as a director in order to make therr6elf aware of any levant audit infcffith and to e8tabli8h that you are aware of that Inlmti. Ywrs frdithfvlty I,. dv( F Signed on behalf of the TfU$tees c*jz 1.20 Circuit offi: 84 Queens Road Reading RG14BW