R•gisterod Charity Number: 1134891
BASINGSTOKE & READING METHODIST CIRCUIT
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 August 2024
Rev4

BASINGSTOKE & READING METHODIST CIRCUIT
Annual Report and Financial Statements
For the year ended 31 August 2024
CONTENTS
Pages
Report of the Twstees
Report of the Independent Auditors
9-11
Statemenl of Financial Activities
Year ended 31 August 2024
Year ended 31 August 2023
Balance Sheet
14
Cash flow statement
15
Notes fomiing part of the Financial Ststements
16-25

Basingstoke and Reading Methodist Circuit
Southampton District, Circuit Number 2614
Annual report for the year erHJing 31° August 2024
REFERENCE AND ADMINISTRATIVE DETAILS
The Circuit
Basingstoke and Reading Methodist Circuit was formed on 1 September2014 resulting from the merger
of Basingstoke Methodist Circuit and Reading & Silchester Methodist Circuit. The Circuit is a separate
legal entity within the Methodist Church and is required under Charity lawto prepare separate accounts.
The Circuit is a registered charity (England & Wales} number 1134891.
There are 21 churches within the Circuit, with a total membership of 926. The churches are spread
around Reading and Basingstoke and the neighbouring towns and villages of Bradfield, Burghfield
Common, Mortimer, Tadley, and Silchester. Several have local ecumenical partnerships with Anglican,
Baptist, andlor United Reformed churche5.
Trustees
The Circuit's trustees are all members ofthe Circuit Meeting and are listed on page 2.
Executlve and leadorshlp functlons
The Circuit stewards (who are ex officio members of the Circuit Meeting) are responsible for ensuring
that the decislons of the Circuit Meeting are executed. The following served as Circuit Stewards during
the year..
Peter Boardley (also as Financial Secretary)
June Hardcastle (until 23 Nov '23)
Michael Parker
Terence Rowell
Stephen Appiah
Donald Fraser {from July 2024)
The Circult Leadership Team gives a longer-temi vision to the Circuit's affairs and comprises a mix of
stipendiary and lay members ofthe Circuit Meeting. The following, also members of the Circuit Meeting,
served on CLT this year.. Reverends Beukes, Simpson, Watson, Kim, Banks, and Jenkins. and all circuit
stewards., two representing local preachers and worship leaders (June Hardcastle and Paddy Jose).,
and Mary Ludlow and Peter Frank, representing lay employees. Marion Young, a member of the Circuit
Meeting, is secretary to CLT.
Custodlan tru8ts08
The custodian trustees are the Trustees for Methodist Church Purposes
Contactlng the Circuit
The Circuit's principal office is 84 Queen's Road, Reading RG14BW, telephone 0118 958 1505. The
Circuit's website is www.basin
stokereadin
methodi8ts.uk
Bankers
The Circuit's bankers are the Central Finance Board of the Methodist Church, 9 Bonhill Street, London
EC2A 4PE', and CAF Bank Ltd, 25 Kings Hill Avenue, West Malling, Kent ME19 4JQ.
Auditors and professlonal advlsers
The Circuit's auditors are James Cowper Kreston Audit, Reading Bridge House, George Street,
Reading, RG1 8LS.
The Circuit engages advisers for legal affairs and propety services as required.

Basingstoke and Reading Melhodist Circuit
Southampton District, Circuit Number 2W4
Annual report for the year ending 31° August 2024
Managing trustees
The managing trustees, who are all members of the Circuit Meeting are as follows-.
The following, as members of the Circuit Meeting, are registered with the Charity Commission as
managing trustees..
Stuart James
Armstrong
Revd John Paul
Banks
Mrs
Jennifer Mary
Bartter
Mrs
Jacqueline Diane
Bath
Helen
Batterby
Revd Ma￿n Pieter
Beukes
Mr
Andrew John
Billington
Peter Howard
Boardley
Martsn Keith
Borgars
Revd Rachel Jane
Borgars
Mr
Keith
Cable
Mrs
Brenda
Caborn
Revd Jacqueline Anne
Case
Mr
Raymond William
Chalk
David Edwin
Cliffe
Kim Suzanne
Crawley
Stuart Mills
Daughters
Mrs
Tracy
Davis
Revd Jennifer Susan
Dowdlng
Mr
Richard Melvyn
Elston
Revd Christopher
Evans
Revd Andrew David
Fitchet
Mr
Kenneth Adjei
Fordjour
Peter Jonathan
Frank
Donald Kaye
Fraser
Karen Anne
Frost
Joan Rosemary
Greenhalgh
David Michael
Gunton
Pamela Dawn
Guy
Alan James
Harland
Charmian
Harrison
Margaret Ann Marina Hayes
Linda Irene May
Hoe
Kathleen
Houghton
Andrew John
House
Alison Margaret
Hutchins
Revd David Glyn
Jenkins
Mrs
Sally Elizabeth
Johnson
Patricia Mary
Jose
Richard John
Kelly
Miss Helen
Khan
Revd Jeongsook
Kim
Michael Albert
Kimber
Patricia Dorothy
Kinchington
Linda Ann
Langridge
Gillian Mary
Lawson
Tirivashe
Manhera
Mrs
Sandra
McKenzie
Mrs
Grace
Mercer
Revd Ruth Katherine
Midcalf
Mrs
Joanne Lesley
Murray
Mr
Michael Thomas
Parker
lan Stuart
Pollard
Sarah Joy
Ross
Terence John
Rowell
Revd Jonathan
Salmon
Revd Claire Frances
Simpson
Mrs
Lesley Jean
Skeavington
Jonathan Leslie
Skeet
Jeanette Louise
Smith
Heather Elaine
Symons
Georgina Valentina Tagoe
Ruth Mabel
Taylor
Christine
Vallis
Revd Helen
Watson
Mrs
Christina Ann
Westcombe
Mrs
Sarah Jane
Whithorn
Patricia
Wilce
Marion Joy
Young
Mrs
Mrs
Mrs
Mrs
Mrs
Mrs
Mr
Mrs
Mrs
Mrs
Mrs
Mrs
Mrs
Mrs
Mr
The members of the Circuit Meeting (as managing trustees) have pleasure in presenting their annual
report and the audited accounts for the year.

Basingsloke and Reading MelhthYIs1 CircuTi
Southampton District. Circuit Number 2614
Annual reptsrt forthe year ending 31" AUg￿$t 2024
1. Objectives and activities
The Circuit stnves to proclaim and reflect the love of God as a justice-seeking Church. In doing this we
shall place people before buildings, mission before maintenance, and God over church. We seek to
enable our churches to develop their local mission the skills and support the Circuit Mission Groups
and the provision of resources.
The Circuit's purpose is to provide resources to support ministry in local churches. The Circuit does
this through the provision of ordained ministers and deacons, lay staff, and Circuil officers to support
service and ministry from the Cir¢uit'$ 19 churches to their local communities. The 19 Churches include
the online Church of the Living Stream and counts the 2 Churches in Caversham as separate entities.
The Circuit also has responsibility for the upkeep and maintenance of 13 manses and investment
properties.
The Circuit produces a quarterly preaching plan to ensure regular acts of worship take place at each of
the 16 Methodist Churches and 3 Local Ecumenical Partnerships in its geographical area. These are
available to all people without charge. The Circuit is also directly involved with outreach work, wtth
particular emphasis on children and families, schools, and support for food banks.
The trustees confirm that they have referred to the guidance contained in the Charity Commission,
general guidance on public benefit, including the guidance 'Publi¢ benefit.. running a charity (PB2)',
when reviewing the Circuit's aims and objectives. The Circuit is pursuing its objectives through the
following strategies by providing.. the 19 Churches include the online Church of the Living Stream
Staffing resources and other assistance to churches for minislry to their communities.,
Grants for outreach activities and improvements to churches, premises that will facilitate access to
ministry.,
Training through study, mentoring, and examination for lay preachers and worship leaders;
Training and support in safeguarding awareness.,
Opportunities for staff and members of church congregations to meet for fellowship, worship and
learning., and
Care for those who have retired from full-time service in the Methodist Church.
2. Achlevements and porformance
The Circuit has continued to benefit from strong and effective ministerial and lay leadership. This is now
focussed through the CLT, which was formed in September 2015 and comprises representatives from
ordained staff, the circuit stewards, and lay members of the circuit meeting as noted on Page 1. CLT'S
brief is to take a more strategic view in leading the Circuit through a period of change and guiding the
allocation of resources in the most effective direction.
The Circuit has also continued to benefft from its large group of established local preachers. Currently,
three individuals are 'on note, as intending local preachers and are 'on trial, whilst they undertake
training. Three individuals have completed training as worship leaders, and one is undertaking the
Connexional course. Two of the Circuit's tutors have been training worship leaders in other circuits.
The circuit made grants and donations to Churches of £13,728 These went to Oakridge to support their
food bank project, to Mortimer Church for their Welcome Mission, and their solar panels project. A
transfer of funds was made to St Andrews Church as part of their Model Trust Fund Trust. Further
detsils can be found in Note 10 to the accounts.
The Circuit produced devotional resources for Advent 2023 that were distributed to all the Circuit's
churches for use by individuals, small groups, or in worship. The Circuit is actively involved through lay
stsff with outreach projects in Basingstoke, wÈth young people and the Town Centre Chaplaincy.

Basingsttske ènd Reading Meth￿l$t Circurft
Southampttsn District, Cireuit Number 2614
Annual reFM)rt for the year ending 31"August 2024
Local community organisalions notably those promoting fftness and health, music and dance use
church premises. and income from extemal lettings makes a valued contribution towards upkeep of
church premises.
Much use is made of Zoom and similar plattomis for broadcasting services across the inlemel. Many
churches arrange and hold their own services, and others use the Servi￿ organise by the Circuit each
week Churches have invested in technology to film servI￿s, and this has opportunities for use for
example wrth concerts held at churches being made available to a wider audience. The Church at
Kempshott decided to become an online Church and streams services during the week
The churches continue to develop ways and means for oulreach into local neighbourhoods, for
example, the quiet garden and Retreal Centre al Silchester and communty cafés. Several churches
have Messy Church.. lunch, holiday. and after-school club5.' or tailored children. families, and youlh
work. Some churches have acted as a collection point for shoe boxes for Operation Christmas Child.
Much work is being done to support foodbanks across the Circuf('s communities. Activities to support
National Charities are a feature of some Churches as well as"Come and Meev groups. Ecumenical
as well as local Bible Study Groups are also a feature. The summer months allow Cream Teas lo be
served in the more rural areas of the Circuit. A number of Churches have or are progressing on the
ECO Church programme with the development of Eco-friendly gardens where possiblè.
Many outreach projects are carried out in partnership with churches from other denominations, such as
the REinspired and 'Open the Book, programmes for delivering religious education in schools. Wesley
Methodist Church participated in 'Bed frjr the Night,, an ecumènical inrtiative providing accommodation
and food for the homeless in Reading. Oakridge Church Warm Hub and Soup Lunches and the Pantry
at Wesley h8ve developed contacts with foodbank users.
Agreement was reached regarding the merger of the two Circuils, which passed through Synod and
Conference during the year The new Circuit called the Hampshire and Berkshire Borders Circuit was
Inaugurated in September 2024. {See also Note 26 to the Statement of Financial Activities.}
3. Flnancial revlew
The attached Statement of Flnan¢ial Affalrs (SOFA) summarlses the Clrcull's In￿Me and expendlture
for the year, supplemented by the Cash Flow statement and the Notes to the Financial Statements. The
Balance Sheet shows the Circuit's assets, liabilities, arsd reseNes.
The net expenditure for the year was £27,124 before Investment g8ins (2023.. net income of
£1.172,699). The reduction of £1,199,823 resulted from the following..
Churches, assessmenls were reduced
Investment Income and bank Interest was hlgh8r
Rental income now also includes lettings from closed churches held by the Circuit
Property and Model Trust Funds were transferred from closed churches In 2023
Maintenance and other costs for manses and closed churches were lower
Less was paid oul to ¢hur¢he5 in grants
Other variations, nel
-21,272
12,059
15,090
-1,228,838
13,742
14,792
-5,308
-1 199,823
After recognlslng gains on investment properties and other assets of £238.764, net income for the year
was £211,840 (2023.. net income of £1,168,983 afier investment losses of£3.7161. Upward revaluation
of freehold prop8rty increased funds by £5,000 (2023.. £30,000).

Basingstoke and ReaL%ing Melhodisl Circuf(
Soulhampton District, Circuit Number 2614
Annual report for the year ending 31" August 2024
The Balance Sheet summarises the Circuit's assets, liabilities, and funds. Net assets (and thus
aggregate funds) at 3151 August 2024 were £8,743,340 (2023.. £8,526,700). The increase in net assets
of £216,640 results from Changes to assets and liabilities as follows:
Investment valuation gains
Investment purchases less sales
Revaluation of operational properties
Model Trust and endowment funds transferred from Closed churches
Net expenditure passing through Model Trust Fund
Reduction in net current assets
Increase in net assets
238,764
1,848
5,000
51,324
-51,758
-28,538
216 640
The Circuit's nel assets are held in either endowment, restricted or unrestricted funds. A fvll analysis of
the individual funds, and the objectives for which income andlor capital may be applied, is provided in
Notes 20 to 22 in these financial statements. These funds may be summarised as follows..
Endowment ftjnds
The income from these funds is applied to ministry within the Circuit but the
capital is not available for use"
Restricted funds
Available for financing capital schemes- Arthur Newbery Trust.
Available for funding revenue expenditure as specified by donors
249,386
216,542
15,481
232,023
Unrestricted funds
Manse capital fund {equivalent to the value of manse and investment properties)
Circuit Model Trust Funds, for financing churches, propety and mission
schemes through grants"
Funds available for financing Circuit occasional expenditure..
Circuit development fund, for training and mission projects
Youth work fund
KenbNood fund, for supporting churches small bullding schemes
7,820,000
118,371
30,882
1,051
9,973
41,906
Funds for financing Circuit annual operating expenditure
General funds, for all purposes
Manse maintenance fund, for repairs, maintenance and refurbishment
231,451
50,203
281,654
8 743,340
I funds
4. Reserv88 pollcles
The Circuit is required to have policies regarding the level of reserves to be held in respect of funds for
financing Circuit's annual operating expenditure Policies are not required in respect of other funds since
these are not held primarily for revenue purposes and there are restrictions on how the funds may be
used. The funds marked (") are managed by the Trustees for Methodist Church Purposes.
The Circuit's annual operating expenditure includes the cost of ministerial and lay staff, provision of
manses, travel and administrative expenses, and contributions to the Methodist Southampton District
and Methodist Church Central funds. This expenditure is funded by assessments on the Circuit's
churches, investment income, rents on surplus manses, and contributions from the Model Trust Fund.
Assessments on churches were calculated as part of the Circuit's annual budget process. Increases in
assessments on churches are limited to 100kn. and not more than 950/0 of a church's income (70'h if the
church has no lettings income from its buildings} This will be reconsidered during the year 2024-25
because the merged Circuit wll need to develop and agreed procedure
The Circuit's budget reflects the impact of anticipated changes in staffing levels, the maintenance needs
of its residential property portfolio, and any amounts to be drawn from reserves to support the planned
expenditure. The Circuit Meeting approves the budget and assessments, and the amounts to be carried
fomard in reserves.

8asingstoke and Reading Methodist Circuit
Southampton Districi. Circuit Number 2614
Annual report for the year ending 31" August 2024
Proposed drawings from the restncted funds of the Circuit to assist churches with building
improvements and fund Improvements to the manses are considered and approved on a case-by-case
basis by the Circuit Meeting.
In setting its reserves policy the Circuit Meeting also considers the financial health of the churches in
the Circuit which has impacted on their abilty to fund the annual Circurt assessment. The Circuit's
reserves policies are to maintsin at least..
A general fund balance of £150.000. sufficient to cover three months, running costs,. and
A manse maintenance fund balance of at least £50,000, sufficient also for three months, running
costs of approximately £20.000 plus £30,000 for unexpected repairs to manses
The balances on these reserves at 31 August 2024 were £231,451 and £50,203 respectively. The
excess on General Fund over the policy of £150,000 wll be used over the next three years in funding
expected budget deficits,
The Circuit's budget for the year commencing 1 September 2024 was prepared before the merger with
the Kennet and Test Valley Circuit was approved and shows net expenditure of £77,566 on General
Fund and a surplus of£18,948 on Manse Maintenance Fund based solely on Basingstoke and Reading
Circuit KTV Circuit éid the same The General Fund deficit will be partly relieved by a transfer from
Manse maintenance Fund of £19,000, being the anticipated excess over the policy of £50,000. The
trustees consider the Circuit to be a going concern.
5. Investment policies
In accordance with the Standing Orders ofthe Methodist Church, the Circult's investments are managed
on its behalf by the Trustees for Methodist Church Purposes (TMCP), Central Buildings, Oldham Street
Manchester M1 1 JQ. TMCP acts as Custodian trustee for all properties held by Circuits, for all large
bequests (ie over £20,000), and for the proceeds of the sale of any propety where the Circuit was
managing trustee. These sums are unitised investments or held on deposit.
Short tem deposits are lodged with the Central Finance Board {CFBI of the Methodist Church.
The Circuit's investment policies are aligned wlth those of TMCP and the CFB because these
organisations take into consideration the social, environmental and ethical issues, both negatively and
positively, that make investments suitable for the Methodist Church.
6. Pay and remuneratlon pollcles
Ministers are stationed in the Circuit by the Methodist Conference. Ministers, remuneration is set
nationally by the Methodist Church. Ministers are members of the Methodist Ministers Pension
Scheme. Contribution rates are set nationally by the Methodist Church.
Lay employees are direetly employed by the Circuit. Lay employee remuneration is based on the
Methodist Church's guidance for the setting of pay rates for lay employees. Lay employee pay rates
are in excess of the National Living Wage. The Circuit offers a pension scheme to its lay employees.
The Circuit matches lay employee contributions up to 100/0 of salary The minimum employer
contribution rate is 6 %. No member of staff is paid in excess of £60,000 per annum.
Infomiation on the payment of expenses to trustees and ￿muneratIon of key managemenl personnel
is disclosed in the notes to the Circuit's accounts.
7. Structure and governance
The Circuitwas established in accordancewith the constitution ofthe Methodist Church. Its organisation
is structured around its bi-annual circuit meeting. The Circuit also holds gatherings to which members
of all churches are invited for worship, discussion, prayer and activities.
The members of the Circuit Meeting are the trustees of the Circuit. The Circuit Meeting comprises the
Circuit staff and officers, and representatives from each church in the Circuit and the lo¢al preachers,
meeting Each church council and the local preachers meeting elect representatives to the Circutt
Meeting annually. The Circuit officers are appointed annually by Circuit Meeting.

Basingsloke and Readlng Melh(Kllst Clrcutt
Southampton District. Circuit Number 2614
Annual ￿pOrt for the year ending 31" August 2024
Vvhen appointed, trustees are asked to complete a related party questionnaire and, at the start of each
Circuit Meeting, to declare any new Conflicts of interest. No declarations were made this year.
The Circuit Meeting is supported by separate monthly meetings of ordained staff and circuit stewards
to conduct day-to-day business and consider matters to be brought to the attention of the Circuit
Meeting. The Circuit Leadership Team's responsibilities include circuit strategy and vision, resource
planning and oversight of probationers and candidales A number of focussed Mission Groups and
'Special Interest, Groups focus on prayer, preparation of worship materials, arranging Circuit gatherings
and managing our property portfolio.
8. Administrative details
These details are provided on page 1 to these financial ststements.
9. Principal risks and uncortainties
The major risks to which the Circuit is exposed have been identified by the Circuit Meeting and are
listed below. A major risk is defined as one that, if realised could fundamentally affect the way in which
the Circuit o
erates or achieves its outcomes in the nexl one to three
ears.
Risk
Evaluation
Commenta
Churches cannot afford to pay their
Moderate
The Circuil takes into account church
assessments. This would affect the
income when setting assessments on
abili
of the Circuit to fund staffin
churches.
The Circuit cannot maintain residential
Surveyors carry out inspections every
properties to appropriate standards
five years to assist planning repairs and
maintenance. There is sufficient in the
Model Trust Fund for works needed in
the medium term
There is a Connexional shortage of
presbyters, and sometimes vacancies
cannot be filled immediatel
The Circuit is heavily dependent on such
individuals and the time that they commit
to the Circuit's life and work. At present
most
osts are filled,
If churches cease to operate, the Circuit
may need to become managing trustee
for the site.
Low
The Circuit is unable to fill ststions with
presbyters, deacons or lay staff where
ro
riate.
The Circuit is unable to attract circuit
stewards and other office holders with
appropriate skills and expertise
Moderate
Moderate
Churches are unable to attract office
holders wrth sufficient time, skills and
expertise to enable them to continue
eratin
Moderate
10. Further inforniation
If further information is required on the Circuit's life and witness, please first contact Mrs Manon Young,
at the Circuit office (see page 1).
11. Statement of trustees, responslbilities
Charity law requires the Circuit Meeting to prepare financial statements for each financial year, which
give a true and fair view of the state of the Circuit as at the balance sheet date and of its incoming
resources and application of resources, including income and expenditure, for the financial year. In
preparing those financial statements, the Circuit Meeting are required to..
select suitable accounting policies and then apply them consistently.,
make judgments and estimates that are reasonable and prudent.
stste whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
prepare the financial stalements on the going concern basis unless tt is inappropriate to presume
that the charity wi51 continue on that basis.

Basingstoke and Reading Methodist Circuit
Southampton District, Circuit NumbeT 2614
Annual report for the year ending 31st August 2024
The Circuit Meeting are responsible for maintaining proper accounting records which disclose with
reasonable accuracy at any time the financial position of the charity and enable them to ensure thal the
financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the
assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud or
other irregularities.
Signed on behalf of the Circuit Meeting
Martin Beukes
Chair of Meeting 12 March 2025

Basing5toke and Reading Melhodisl Circuit
Southampton District, Circuit Number 2614
Annu81 report for the y8ar ènding 31" August 2024
Independent Auditor's Report to the Trustees of Baslngstoke & Reading Methodist Circuit
Opinion
We have audited the financial statements of Basingstoke & Reading Methodist Circuit {the 'charity')
for the year ended 31 August 2024 which comprise the Statement of Financial Activities, Balance
Sheet and the Cash Flow Statement and notes to the financial statements, 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 FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland {Unrted Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial ststements..
give a true and fair view of the state of the charity's affairs as at 31 August 2024 and of its
incoming resources and application of resources, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice,. and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinlon
We conducted our audit in accordance with international 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 requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our audit opinion.
Concluslons relatlng to golng 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 15 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 authorlsed for Issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concem are
described in the relevant sections of this report.
Other Infomiation
The trustees are responsible for the other information The other information comprises the
information included in the annual report, other than the financial statements and our auditor's report
thereon. Our opinion on the financial statements does not cover the other information and, except to
the extent otherwise explicitly stated in our report, we do not express any fomi of assurance
conclusion thereon.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. 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.
Matters on vthich we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us
to report to you if, in our opinion..

Basingsloke and Reading Methodisl Circuit
Southampton District, Cir¢LJiI Number 2614
Annual report for the year ending 31° August 2024
the information given in the Trustees, Annual Report is inconsistent in any material respect
with the financial statements, or
sufficient accounting records have not been kept., or
the financial statements are not in agreement wth the accounting words and retums., or
we have not received all the information and explanatsons we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement set out on page 7, the trustees are
responsible for the preparation of the 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 ¢harity'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.
Audltor's responslbllltles for the audlt of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whose
are free from material misstatement, whether due to fraud or error, and to issue an Auditors, Report
that includes our opinion. Reasonable assurance is a high level of assurance, but is nol 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 intluence the economic decisions of users
taken on the basis of these financial statements.
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 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
lo fraud rather than error, as fraud involves intentional Concealment, forgery, collusion, omission or
misrepresentation. Irregularities, including fraud, are instances of non-compliance with laws and
regulations. We design procedures in line wilh our responsibilities, outlined above, to detect material
misstatements in respect of irregularities, including fraud. The extent to which our procedures are
capable of detecting irregularities, including fraud, is detailed below..
Enquiry of management, those charged with governance and the entity's solicitors lor in-
house legal team) around actual and potential legislation and claims.,
Enquiry of entity staff in tax and compliance functions to identify any instsnces of non-
Compliance with laws and regulations.,
Reviewing minutes of meetings of those charged with governance.,
Reviewing internal audit reports.,
Reviewing financial statement disclosures and testing to support documentation to assess
compliance with applicable laws and regulations.,
Performing audit work over the risk of management override of controls, including journal
entries and other adjustments for appropriateness, evaluating the business rationale of
significant transactions outside the normal course of business and reviewing accounting
estimates for bias,
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Councils website at. ww.frc.org.uklauditorsresponsibilities. This description
forms part of our Auditors, Report.
10

8asingstoke and Reading Methodist Circuit
Southampton Dislrlct, Cir¢uil Number 2W4
Annual report for the year ending 31° August 2024
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 8
of the Charities Act 2011 and regulations made under section 154 of that Act. 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 pemiitted by law, we
do not accept or assume responsibility to anyone other than the chartty and its trustees as a body, for
our audit work, for this report, or for the opinions we have formed.
Darren O'connor Bsc (Hons) FCCA FCA, Senior Statutory Auditor
For and on behalf of James Cowper Kreston Audit, Statutory Auditor
James Cowper Kreston Audit is eligible to act as an auditor in terms of secb'on 1212 of the
Companies Act 2006
Reading Bridge House
George Street
Reading
Berkshire
RG18LS
Date.. 17 March 2025

BASINGSTOKE & READING METHODIST CIRCUIT
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 August 2024
Notes Unrestricted Funds
General Designated
Funds
Funds
Restricted Endowment
Funds
Funds
Total
2024
INCOME AND ENDOWMENTS
Donations and legacies
Charitable income
Assessments on churches
Other income
Investments
Lettings income
Investment income and interest
409,357
16,230
409,357
26,654
10,424
150,135
7,543
150,135
40,915
29,301
1,832
2,239
Total Income and endowments
454,888
168,102
1,832
2,239
627,061
EXPENDITURE
Charitable expenditure
Stipends, salaries and associated costs
Assessments and levies
Propety running costs
Grants and donations
Administration and travel
Other outgoings
Raising funds
Investment management costs
Total expenditure
325,593
108,816
325,593
112,288
116,736
16,228
34,824
45,525
3,472
116,736
4,454
10
11,774
34,824
17,710
27,815
775
486
96
1,634
2,991
499,492
152,963
96
1,634
654,185
Not incomel(expendlture} before
Investment gainsllosses
Investment realised & unrealised gainsl(losses)
Investment properties
15
Other investments
16
(44,604)
15,139
1,736
605
(27,124)
210,000
210,000
28,764
12,440
16,324
Net incomel(expenditure) before
transfers
(44,604)
225,139
14,176
16,929
211,640
Transfers be￿een funds
Revaluation of freehold propety
16,515
(16,652}
5,000
137
14
5,000
Net movement in funds
(28,089)
213,487
14,313
16,929
216,640
Totsl funds brought forward
259,540
7,816,993
217,710
232,457
8,526,700
Total funds at 31 August 2024
231,451
8,030,480
232,023
249,386
8,743,340
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 24 form part of these Financia5 Swements.

BASINGSTOKE & READING METHODIST CIRCUIT
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 August 2023
Notes
Unrestricted funds
General Deslgnated
Funds
Funds
Restricted Endowment
Funds
Funds
Total
2023
INCOME AND ENDOWMENTS
Donations and legacies
Charitable income
Assessments on churches
Other income
Investments
Lettings income
Investment income and interest
430,629
85,337
430,629
1,261,369
1,176,032
135,045
3,649
135,045
28,856
22,862
1,053
1,292
Total Income and endowments
538,828
1,314,726
1,053
1,292
1,855,899
EXPENDITURE
Charitable expenditure
Stipends, salaries and associated costs
Assessments and levies
Manse running costs
Grants and donations
Administration and travel
Other outgoings
Raising funds
Investment management costs
329,524
109,296
329,524
112,565
130,208
31,020
32,394
44,574
3,269
130,208
12,900
10
18,000
32,394
16,704
120
27,870
807
329
93
1,686
2,915
Total expendlture
506,725
174,576
213
1,686
683,200
Net Incomel{expendlturel before
Investment galnslloss8S
Investment realised & unrealised gainslllosses)
Investment properties
15
Other
16
32,103 1,140,150
840
{394)
1,172,699
8,500
8,500
112,216)
(7,131)
(5,0851
Net Incomel{expendlture) before
transfers
32,103
1,148,650
(6,2911
{5,479}
1,168,983
Transfers be￿en funds
Revaluation of freehold property
(14,500)
14,500
30,000
14
30,000
Net movement In funds
17,603
1.193,150
16,291)
(5,4791
1,198,983
Total funds brought foward
241,937
6,623,843
224,001
237,936
7,327,717
Totsl funds at 31 August 2023
259.540
7.816,993
217,710
232.457
8.526,700
The statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 24 fomi part of these Financial Statements.

BASINGSTOKE & READING METHODIST CIRCUIT
BALANCE SHEET
As at 31 August 2024
2024
2023
Notes
FIXED ASSETS
Freehold properties,. manses
Investment properties
Investments
14
2,880,000
4,940.000
596.218
2,875,000
4,730,000
566,040
16
8,416,218
8,171,040
CURRENT ASSETS
Debtors
Central Finance Board deposits
Cash at bank and in hand
17
33,218
335,737
30,941
132,703
296,342
16,187
399,896
445.232
Cradltors
Amounts falling due within one year
18
72,774
89,572
Net Current Assets
327,122
355,660
NET ASSETS
19
8,743,340
8,526,700
FUNDS
Endowm8nt fund8
Restricted funds
20
21
249,386
232,023
8,261,931
232,457
217,710
8,076,533
Unrestrlcted fund8
22
8,743.340
8,526,700
The Financial Statements We￿ approved by the Managing Twstees on 12 March 2025 and are signed on their
behalf by:"
Rev
artin Be
kes
air of Meeting
Peter Boardley
Circuit steward & finance secretary
The notes on pages 14 to tl form part of these Financial statements
14.

BASINGSTOKE & READING METHODIST CIRCUIT
CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Notes
Cash used in operatsng activities
25
(188.811)
(232,251)
Cash flows from investing activities
Dividends, interest and rents from investments
Proceeds from sale of property
Expenditure funded through investment portfolio
Purchase of investments
Investment sale proceeds
191,050
163,901
51,758
12,648)
800
(5,919)
(12,514)
13,817
Cash provided by Inv08ting actlvitles
240,960
159,285
{Reduction)fincrease in cash and cash equivalents in year
54,149
172,9661
Cash and cash equivalents at the beginning of the year
312,529
385,495
Total cash and cash equlvalents at th8 end of year
366,678
312,529
15-

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024
STATEMENT OF ACCOUNTING POLICIES
Basis of Preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (effective 1 January
2015) - (Charities SORP IFRS 102)), the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) as updated by Bulletin 1, and the Companies Act 2006. These statements are
denominated in Sterling, rounded to the nearest £.
The Basingstoke and Reading Methodist Circuit meets the definition of a public benefit entity under FRS 102.
The accounts have been prepared on the basi5 of histonc cost except that investments and properties are
shown at their market value.
Based on the monetary assets and human resources available to the Circuit at 31 August 2024 the trustees
believe that the accounts should be prepared on a going concem basis.
Fund Accountlng
The funds constitute:
Unrestncted funds which include general funds held for any purpose of the Circuit., the Circuit Mod81 Trust
Fund which has wide purposes defined in Standing Orders and is categorised as unrestricted, and other
designated funds that are held for purposes agreed by the Circuit Meeting.
Restricted funds are funds that can only be used for specific restncted purposes as laid down by the donor.
Endowment funds which represent gifts that are held as capital to generate income that is available for either
restricted or unrestricted purposes.
Income and ondowments
ASI incoming resources are included in the Statement of Financial Activities when the Circuit becomes entitled
to the resources, the trustees are virtually certain they will receive the resources, and the monetary value can
be measured with sufficient reliability.
Expenditure
Resources expended are accounted for on an accruals basis. Expenditure is recognised when a liability is
incurred or a constructive obligation arises that results in the payment being unavoidable. The Circuit is not
VAT register8d so expenditure is stated inclusive of VAT where applicable.
Grants
Grants by the Circuit are recognised at the time of agreement to pay (wthout performance conditions), or
when it is accepted there is an obligation to pay (if subject to performance conditions). Where grants are
payable over more than one year, the accrual is discounted to net present valu8 if the difference is material.
Connexional donations - acting as agent
The Circuit acts as agent in ¢ollecling from churches and then paying over their contributions to various
Methodist Connexional funds and other external organisations. These transactions are therefore not reflected
in the SOFA but are disclosed in Notes to the Accounts as required by the SORP IFRS1021, module 19.12.
Ownership of Methodist property
Under the Methodist Church Act 1976 the ownership of Methodist property in England, Wales and Scotland
was on 16 Apnl 1977 automatically transferred to the Trustees for Methodist Church Purposes (TMCP).
Propety includes stocks, shares, unit trust investments and all other securities as well as land. buildings and
chattels. TMCP holds such property as custodian trustees. The management of this propety is vested in the
relevant managing trustees who must act in accordance with the Model Trusts and the Standing Orders made
und8r them. The propety for which the Circuit are managing trustees is included in the Circuit's accounts.
16-

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 {cont d)
STATEMENT OF ACCOUNTING POLICIES (continued)
Tangible fixed assets
Assets are capitalised if they can be used for more than one year and cost more than £2,500. Freehold
property is stated at market value, which is reviewed annually. Office equipment and other plant is stated at
cost. Depreciation is calculated on the straight line basis at 20% on office equipment and other plant but is not
provided on freehold property since this is revalued annually.
Investment properties
Properties that are no longer required as manses are held as investment properties. They are stated at market
value, which is reviewed annually.
Financial Sn8truments
The Circuit only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
Basic financial instruments are initially recognised at transaction value and subsequently measured at their
settlement value with the exception of bank loans which are subsequently measured at amortised cost using
the effective interest method.
Invostmonts
Investments are included at market value at the Balance Sheet date. Investment income is included in the
accounts when receivable and any gains or losses on revaluation at the year end are included in the
Statement of Financial Activities.
The investments are in monetary assets. Except for the Briggs Trust funds which are managed by Lloyds
Bank, the Circuit's investment assets are held by the Trustees for Methodist Church Purposes (TMCPI as
custodian trustees. The valuations, at market value, are those as provided by Lloyds Bank and TMCP as at
31 August 2024.
Stsff costs
The ministers are paid stipends at rates set by the Methodist Conference. The lay employees are paid
salaries at rates set by the Circuit.
The Circuit makes payments to the Methodist Ministers Pension Fund and into a pension scheme for its lay
employees. The charge represents the amount payable in respect of the year.
Ministers, mans8 costs
The Circuit is required to provide accommodation for each minister and their families, and ministers are
expected to occupy them. The Circuit bears the cost of repairs and maintenance, premises insurance, council
tax and water charges. These are not regarded as benefits in kind by HM Revenue & Customs.
CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
Estimates and judgements are continually evaluated and are based on historical experience and current
factors. including expectations of future events that are believed to be reasonable under the circumstances.
The Circuit trustees make estimates and assumptions concerning the future. The resulting accounting
estimates and assumptions will, by definition,seldom equal the related actual results. The only estimates and
assumptions that have significant risk of Causing a material adjustment to the carrying amounts of assets and
liabilities within the next financial year are discussed below.
Land and buildings
The carrying values of land and buildings within tangible fixed assets and investment properties have been
reviewed by the trustees based on a professional valuation for accounts purposes at the balance sheet date.
17-

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (cont d.)
3 INTEREST & INVESTMENT INCOfvIE
Unrestricted Funds
General
Designated Restricted Endowment
Funds
Funds
Funds
Funds
Total
2024
Total
2023
Bank interest
Investment income
17.784
11,517
17,784
23,131
11,964
16,892
7,543
1,832
2,239
29,301
7,543
1,832
2,239
40.915
28,856
4 OTHER INCOME
Unrestrlcted Funds
General
Deslgnated Restrlcted Endowment
Funds
Funds
Funds
Funds
Total
2024
Total
2023
Funding for staff member on sick leave
Ransom strip sale proceeds
Contributions towards 3Generate costs
Staffing and shared manse costs
Grant repaid by Tadley Common Church
Closed churches transferred to Circuit
Funds transferred from TrSnity Basingstoke
10,184
10,164
21,469
5.500
5,403
2,021
3,000
5,403
8,087
3,000
6.066
4,032
1,500
1,165.000
63,868
16.230
10,424
26.654
1,261,369
Unrestrlcted Fund8
General
Deslgnated Restrlcted Endowment
Funds
Funds
Funds
Funds
S STAFF COSTS
Total
2024
Total
2023
Stipends and salaries
National Insurance
Pension contributions
Apprenliceshlp levy
Relocation expens85
252,048
21,224
50,600
1,314
405
252.048
21.224
50,800
1,314
405
247,165
20,029
47,373
1,140
13,817
325,591
325,591
329,524
The mini$lers are stationed in the Circull by tho Methodist Conferance and are paid stipends al rates agreed by the Conference. The
lay employees are employee$ of the Circuit and are paid salaries al rates set by the Circuit. The pay ¢o$ts of both the minister5 and
lay employees are reflected In the accounts. The remuneration of those members of stsff in senior management positions lie on the
Circuit Leadership Teaml were £206.644 12023.. £198,936)", and the full cost including employer pension and National Insurance
conlribulions was £273,14212023' £261,289)
Salaries and pension contributions are in line with guidance providèd by the Methodist Church.
The number of staff dunng the year was
No members of stsff received emoluments amounting lo over £60,000 in the year.
Duririg the year. no tfuslee received any remuneration for the role of Irusl80.
14
12
6 ASSESSMENTS AND LEVIES
Unrostrl¢tod Funds
Ganeral
D&slgnatod Restri¢tad Endowment
Funds
Funds
Funds
Funds
Total
2024
Total
2023
District assessment
Methodist Church Fund
Contribut'ons to District Advanc8 Fund
United Reformed Church assessments
Church of England assessm8nts
16.651
88,073
16.651
88,073
3,472
4.092
18.178
86,390
3,269
4.416
312
3,472
4.092
108,816
3,472
112,288
112,565

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (contd.)
7 MANSE AND OTHER PROPERTY RUNNING COSTS
Unrestrlcted Funds
General
Designated Restricted Endowment
Funds
Funds
Funds
Funds
Total
2024
Total
2023
Insurance and utilities
Rent payable
Repairs and maintenance
48,024
5,850
62.862
48,024
5.850
62.862
27,458
19.200
83.550
116,736
116.736
130,208
8 ADMINISTRATION AND TRAVEL
Unre8tri¢tsd Funds
General
Designated Re8trictsd Endowmènt
Funds
Funds
Fund8
Funds
Totsl
2024
Total
2023
Telephone costs
Administrative expenses
Publication5
Circuit office rent
Travel expenses
7,865
8,957
2,740
3,600
11,662
7,865
8,957
2,740
3,600
11,662
7.451
8,802
1,974
3,600
10,567
34,824
34,824
32,394
9 OTHER OUTGOINGS
Unr08tricted Fund8
General
Deslgnatad R•8tr1et•d Endowment
Funds
Funds
Fund8
Fund8
Total
2024
Total
2023
Audit fees
Professional foes
Property management
Other expenditure
9,276
9,276
8.760
23,463
4.352
23.463
12.786
26,197
9,617
8.434
17,710
27.815
45,525
44,574
10 GRANTS AND DONATIONS
The following grants were agreèd andlor paid during the year and charged to the funds concerned (see Notès 19
221. Associated support cosls are insignificant and hav• not been disclosed separately
Totsl
Total
A¢¢ru•d or
Ireloasedl
Pald
2024
2023
G•neral fund8 lunr8strfctsd}
Reading University Chaplaincy
Churches Together in Berkshire
Citizens UK
Fund5 from Trinity Basingstoke transferred lo Sl Andrews
Burghfield Common Church project lapsed
Til8hurst Methodist Church for lay employeè
500
15001
15001
3.000
12.544
11,5001
1,770
11,774
3,000
12.$44
11.5001
17,500
15,730
31274
17.500
D•$ignatsd funds {unr•stri¢t•dl
Model Trust Fund
Wesley Methodist Church for refurbishment of part
of 84 Queens Road for other use
Circuit Development Fund
Small grants paid to churches
10,000
4,454
4.454
4.454
4,454
2,900
12.900
Benevolence fund Ire8trictedl
Payments
120
35,728
119,500}
16,228
31,020
19-

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (cont'd.)
11 VOLUNTEER CONTRIBUTIONS
The Circuit is heavily reliant on volunteers who contribute their skills and time in the furtherance of the
work of the Circuit. Principally this contribution is by serving as circuil and manse stewards and serving
on groups that plan circuit events and meetings. support the Circuit's safeguarding work and the Circuit's
Strategic Executive Group.
No attempt has been made by the Trustees to value the non monetary contributions made by volunteers
in monetary temis.
12 PAYMENTS TO TRUSTEES
Several of the Circuit staff are also trustees of the Circuit. The ministers are paid stipends and travel
expenses at the rates agreed annually by the Methodist Conferen￿. The lay employees who are
Trustees are paid in line with the principles of the Methodist Church's policy for payment of lay employees.
The ministers Rev'ds Simpson, Jenkins. Beukes, Jeongsook Kim, Banks, Watson and Deacon Maria
Howard received stipends totalling £165,847., and Ihe lay employees Mary Ludlow, Lee Frost, Peter Frank
and Marion Young received salary payments of £62,823., the total was thus £228,670 (2023.. £233,565).
Some of the members of the Circuit may have receive payments from the Circuit in their capacily as
manse or property stewards where they have either carried out maintenance work at manses rather Ihan
employing a contrador or incurred expenses connected with their role. Other members of the Circuit
meeting may be employed as a contraclor in connection with their trade or business. These amountad to
£nil during the year (2023.. £nil).
Expenses paid to members of the Circuit Meeting were as follows..
2024
2023
Travel expenses
Pulpit supply costs
Offi¢e equipment and furniture
Manse expenses reimbursed
Administration and other ministry expenses reimbursed
10,112
6,175
1,813
2,139
3,776
24,015
8,450
4,075
1,408
1,950
2,477
18,360
Number of trustees who were paid expenses
19
16
20-

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (cont'd.)
13
PENSIONS
The ministers belong to the Methodist Ministers, Pension Scheme, which is a defined benefit scheme. The
Circuit pald a conlribution of 26.9D/o of stipend to the scheme in recent years. It is not possible to identify the
Circuit's share of assets and liabilities. The results of the latest completed valuation as at 31 August 2023, and
the previous interim valuation as at 31 August 2021, both assuming that the Scheme continues into the future.
were as follows..
2021
2023
Target level of assets
Actual value of assels
Surplus in assets
Funding level
498.5
574.3
75.8
115.190/
362.1
395.8
33.7
109.30%
As the SGheme was in deficit at 31 August 2020, a recovery plan was initiated, and, in view of the recovery in
the financial markets, an interim valuation was undertaken as at 31 August 2021 and showed a much improved
position. The most recent valuation was undertaken as at 31 August 2023 and shows a funding surplus.
Circuits had been paying total contributions at 26.9010 of stipend remuneration, but this rat8 reduced to 20.OD/
from 1 September 2024.
Th8 Circuit belongs to a multi-8mployer defined contribution pension scheme operated by The Pensions Trust
which is offered to lay employees. The Circuit matches their contributions lo the scheme up to 1 00/0 of pay,
Irb line wilh FRS102 28.38, there is no ¢ontractual agreement and therefore the cost reGognised is equal to the
contributions payable for the period.
14
TANGIBLE FIXED ASSETS
Land
Bulldlng8
Total
Valuatlon
Al 1 September 2023
Revaluation change
At 31 August 2024
Depreclatlon
At 1 September 2023
Provision for the year
960,000
5,000
965,000
1,915,000
2,875,000
5,000
1,915.000
2,880,000
At 31 August 2024
Net Book Value
At 1 September 2023
960,000
1,915,000
2,875,000
At 31 August 2024
965,000
1,915,000
2,880,000
The manses were revalued by thé trustees at 31 August 2024, following a professional valuation for accounts
purposes as al that date by Haslams, Chartered Surveyors. The historical value of land and buildings if they
had not been revalued was £2,209,435 (31 August 2023. £2,209,435).
15
INVESTMENT PROPERTIES
Land
Buildings
Total
Valuatlon
At 1 Sepiember 2023
Revaluation change
At 31 August 2024
1,575,500
72,000
1.647,500
3,154,500
138,000
3.292,500
4,730,000
210,000
4,940,000
The manses were revalued by the trustees at 31 August 2023, following a professional valuation for accounts
purposes as at that date by Haslams, Chartered SuNeyors. The historical value of land and buildings if they
had not been revalued was £3,442,569 {31 August 2023.. £3,442.569).
21

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (Cont'd.)
16 INVESTMENTS
2024
2023
Balance at 1 September 2023
Additions
Disposals
Unrealised gainsl(losses)
350,727
800
12,648)
28,764
377,643
218,575
364,252
12,514
(13,822>
12,217
350,727
216,313
Cash held
Balanc8 at 31 August 2024
596,218
566,040
Analysls of investments
Investments listed on a recognised Stock Exchange or held in common
investment funds, unit trusts or other collective investment schemes
Other investments
Circuit Model Trust cash holdings
377,643
100,204
118,371
350,727
95,876
119,437
596,218
566,040
17 DEBTORS
2024
2023
Sundry debtors
Funds being transferred from Trinity Church Basingstoke after closure
Stipends paid in advance
Prepayments
3,673
25,103
63,868
21,048
22,684
132,703
24,795
4,750
33,218
18 CREDITORS
2024
2023
Assessments for September paid in advance
Other creditors
Grants payable to churches
Accruals
35,074
15,125
33,732
11,573
19,000
25,267
22,676
72,774
89,572
19 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed
Assèts
Investment
Propèrty
Other
Investments
Current
Assets (net)
Total
Funds, year ended 31 August 2024
Endowment funds
Restricted funds
Unrestricted funds
249,386
228,461
118,371
249,386
232,023
8,261,932
3,562
323,561
2,880,000
4,940,000
2,880,000
4,940,000
596,218
327,123
8,743,341
Funds, year onded 31 August 2023
Endowment funds
Restricted funds
Unrestricted funds
232,457
214,146
119,437
232,457
217,710
8,076,533
3,564
352,096
2,875,000
4,730,000
2,875,000
4,730,000
566,040
355,660
8,526,700

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (cont'd.)
20 ENDOWMENT FUNDS
Opening
balances
Net incomel
Investment Transfers
{expendlturel galnsll10s8081
Closlng
balances
Movements In year ended 31 August 2024
Arthur Newbery Trust 5446 (Trustees Investment Fund: TIF
Arthur Newbery Trust 4345 (TIF}
Arthur Newbery Trust 4763 (Methodist Managed
Mixed Funds & TIF)
Arthur Newbery Trust 5447 (TIF}
Arthur Newbery Trust 3669 ITIFI
AJ Briggs Trust (managed by Lloyds Bank Private Banking)
361
31,595
361
33,212
1,617
90,557
337
9,844
99,763
232,457
6,997
97,554
337
10,348
107.574
249,386
504
1,516
605
9,327
16,324
Movements In year ended 31 August 2023
Arthur Newbery Trust 5446 (Trustees Inveslmenl Fund.. TIF
Arthur Newbery Trust 4345 ITIFI
Arthur Newbery Trust 4763 (Methodist Managed
Mixed Funds & TIF)
Arthur Newbery Trust 5447 {TIFI
Arthur Newbery TrL¢sI 3669 ITIFI
AJ Briggs Trust (managed by Lloyd$ Bank Private Banking)
362
30,697
{11
898
361
31,595
94,569
337
9.564
102,407
{4,0121
90.557
337
9,844
99,763
232,457
280
1.571
394
1,073
5,085
The investment income generated by funds 5446, 4763 and 3669 is used lo fund the Circuit's day to day running costs. The investment
income generated by funds 4345 and 3669 is held in the fund. The income generated by the AJ Briggs Trust is used lo fund mini$try in
21 RESTRICTED FUNDS
Movements In year ended 31 August 2024
Benevolence fund
Trinity Church Devèlopment Fund
Edith Bailey Bequest (supporting people)
Arthur Newbery Trust {financing capital schemes
in the Circuill
3,562
3,562
146
11,773
140
11,200
573
202,948
1,155
12,439
216,542
217,710
1,734
12,439
140
232,023
Movements In year ended 31 Augu•t 2023
Benevolence fund
Edith Bailey Bequest (supporting people)
Arthur Newbery Trust Ifinancing capital schemes
in the Circuill
3,682
10,882
11201
318
3.562
11,200
209.437
642
17,131}
202,948
224,001
840
17,1311
217,710
The Benevolence Fund is held by the Circuit to support individuals in need. The Edith Bailey 8equest is to be used to support individuals in
need. The Arthur Newbery Trust is available lo fund capital scheme5. The Fund for the Worker with the Deaf reseTve contributed towardg
the cost of this post but has now been closed.
23-

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (cont'd.)
22 UNRESTRICTED FUNDS
Opening
balances
Net income or Investment Transfers
expenditurel-l GainslLosge¥
Closing
balances
Movgmgnts in year ended 31 August 2024
Gengral fund (day to day running costs)
Designated Funds..
Manse Maintenance fund
Manses capital (value of manses)
Youth work fund
Circuit development fund Ilraining, outreach, small proje¢l$
Kentwood Fund (grants for buildings projects)
Circuit Model Trust funds
259,540
(44,6041
16,515
231,451
50,246
7,605,000
17,957
112,0001
50,203
7,820,000
1,051
30,882
9,973
118,371
215,000
1,051
11,4541
32,336
9,973
119,438
3,585
14,6521
8,076,533
129,4651
215.000
{137} 8.261,931
Movoments in yèar ended 31 August 2023
Ganeral fund (day lo éay running costs)
Deslgnated Fund8'.
Manse Maintenance fund
Manses capital {value of manses)
Youth work fund
Circuit development fund (training, outrgach, small Pfojects
Kentwood Fundlgrants for buildings projects)
Circuit Model Trust fund
241,937
32.103
114,5001
259,$40
50.767
6,401.500
2,500
43,716
9,973
115.387
115,0211
1,165,000
{2.480>
111.400)
14,500
50.246
7,605,000
38,500
1201
20
32,336
9.973
119.438
4,051
6,865,780
1,172,253
38,500
8,076.533
23 TRANSFERS BETWEEN FUNDS
The transfers b8￿Men funds represent amoun18 drawn down by aulhori8allon of the Clrcuil Meeting
24 AGENCY COLLECTIONS AND PAYMENTS
The CiTCUIt a¢led as ogenl In either the collection oi facili18tion of the monies tabulat￿ below. None of these collection$
were for related partles as defined In Note 1 and do not 8ppe8r 8188where In these accounts.
men
Balanc
31
202
elh
Methodist Church Fund
Fund$ for.. Propety
Mission in Britain
World Missions
MethodSst Homes
PreacheTS and Leaders of Worship
All We Can
Support foi Pre$byter$ and Deacon$
5,750
1,450
4.300
90
243
300
200
50
90
210
33
300
200
so
6,633
1.800
4,833
The balance at 31 August 2024 is Included in Other Creditors (see Note 18}
24-

BASINGSTOKE & READING METHODIST CIRCUIT
NOTES FORMING PART OF THE FINANCIAL STATEMENTS
For the year ended 31 August 2024 (cont d.)
25 RECONCILIATION OF NET {OUTGOING)I INCOMING RESOURCES TO NET CASH INFLOWS FROM
OPERATIONS
2024
2023
Net movement in funds
{Gains)Ilosses on investments
Investment properties
other investments
Investment income and rent from investrnents
Closed churches transferred to Circuit at no cost
Ilncrease)Idecrease in debtors
Increasel{decrease) in creditors
211,640
1,168,983
{210,000}
{28,764}
(191,050)
(8,500)
12,216
(163,901)
11,165,000)
(99,153)
23,104
48.181
(16,798)
Net cash used in operating actlvltles
{186,811}
(232,251)
Analysls of cash and cash equlvalents
CFB deposits
Cash at bank and in hand
335,737
30,941
296,342
18,187
366,678
312,529
26 POST BALANCE SHEET EVENT
This Circuit merged with the Kennet & Test Valley Circuit IKTVI wlth effect from 1 September 2024. The
merger was effected by transferring all the assets and liabilities from KTV into this Circuit so that KTV charity
became simply a shell to be closed down as soon as practicable. The new enlarged Circuit becam8 the
Berkshire & Hampshire Borders Circuit with effect from 1 September 2024.
The net assets and funds thus transferred from the former KTV Circuit on 1 September 2024 were as follows..
Fixed assets
Current assets
Less current liabilities
Net assets
1,855,426
337,833
6,940
2,188,319
Represented by-.
Unrestricted funds
Restricted funds
Endowment funds
1,994,634
1,259
190,426
2.186.319
-25-