Trustees, Annual Report for the period Period start date Period end date From 01 September 2023 31 August 2024 Section A Reference and administration details Charity name Mid Cornwall Circuit, The Methodist Church Other names charity is known by Registered charity number 1135006 Charity'5 principal address l Union Place Truro Cornw311 Postcode TRI IEP Name5 of the charity trustees who manage the charity Trustee name Office lif any) Date5 Octed if not for whole year Name of person lor body) entitled to appoint trLJ5tee lif any) Ex officio Revd Simon Clarke Presbyter (Chairman of Circuit meeting) Presbyter Presbyter Presbyter Revd Mark Dunn-wilson Revd Clare Anderson Revd Aubin de Gruchy Ex officio Ex officio Ex officio 01/0912023 - current Revd Helen Byrne Mrs Janet Tredrea Mrs Sue Strawford Mr Adrian Mitchell Ms Victoria Hick Mr David Crocker Mrs Karen Potts Mrs Janet Crocker Mr5 Karen Armstrong Mrs Jayne Thomas Mrs Julie Thomas Mr Richard Thomas Revd Derek Collins Revd Jane Willcock Revd Janet Knowles- Berry Revd Margaret Barnes Mrs Mary Adams Mr Peter Keast Mrs Linda Richards Chaplain to Truro School Lay Worker Lay Worker Lay Worker Lay Worker Lay Worker Lay Worker Lay worker Circuit Administrator Circuit Steward Circuit Steward Circuit Steward Supernumerary Supernumerary Supernumerary Ex officio Ex officio Ex officio Ex officio Ex officio Ex officio Ex officio Ex officio Ex officio Circuit Meeting Circuit Meeting Circuit Meeting Ex officio Ex officio Ex officio io li 12 13 14 15 16 17 18 19 20 21 22 23 supernumerary Ex officio Allet Church Council Allet Church Council Camon Oowns Churth Council Resigned 01/0312024 24 25 Mrs Peggy Evely Mr lan Street Carnon Down5 Church Council Circuit Steward Ex officio
26 Ms Jessica Rush Carnon Community Church Countil Carnon Community Church Coutitil Chacewaterllwelveheads Chuwth Countil Chacewaternwelveheads Church Covncll Ex officio Crantock Church Council 27 Mr Roy Picken 28 Alison Murfin 29 Mrs Liz Hayward 30 31 32 33 34 35 36 37 Mr Cliff Smith Mrs Chris Smith Marion Caldwell Marlene 8all Mr Phil Booth Mrs Sue Jackson Dr Vicky Hartnell Mr Malcolffl Kingston Mr Ron Cartwright Mrs Joanne Appleton Mr Leslie Penna Mrs Diane Taylor Mr Ross Rounsevell Mrs Heather Rounsevell Mr Ken Yeo Mrs Diane Stephens Mrs Christine Roberts Ms Faye Solwav Mrs Gill Harris Mrjohn Harris Mr Sid Deeble Mr Ernie Dymond Ms Helen Nicho150n Circuit Steward Crantock Church Council Mt Hawke Churth CouThdl Newquay Church Councll Circuit Steward Ex officio Penpoll Church Council Penpoll Church Council 38 39 40 41 Perranporth Church Councll Portstatho Church Council Rose Church Council Shortlane5end Churth Councll 42 43 44 45 46 47 48 49 50 51 52 Shortlanesend Churth Counc51 Shortlanesend Churth Couneil Circuit Steward Ex officio St AEtbe5 Church Council Sl Agnes Chr£h Council St Agnes Church Council Threemile5tone Church Countil ThreEmilestone Church Councll Trispen Church Council Trispen Church Council Tnjro with Tresillian Church Council Tfuro with Tresillian Church Council Truro with Tresillian Church Council Ex officio Truro wtth Tresillian Church Council Truro with Tresillian Church CouncFI Truro wtth Tresillian Church Council Truro with Tresillian Church CoLtncil Truro with Tresillian Church Council 53 Mrstephen Nicho150n 54 Mrs Hilary Nicholson 55 56 Mrs Linda Baines Mr David Rabey LP Secretary 57 Mrs Rita Soper 58 Mr Steve Harris 59 Mrjohn Wallace 60 Mr Tim Wellings Names and addresses of advisors (Optional Informationl Type of adviser Accountant5 Name Francis Clark LLP Address Lowin House, Tre8011s Road, Truro, TRI 2NA
Section B Structure, governance and management Description of the charity's trusts Type of governing document Act of Parliament How the charity is constituted Trust Appointed by Circuit Meeting or individual Church Councils {some Trustees are ex officiol Trustee selection methods Additional governance issues (Optional information) You may choose to include additional information, where relevant about: InductionlTraining: Range of guidance provided by Methodist Connexion 'The Role of a Trustee, leaflet available to Trustees Policies and procedures adopted for the induction and training of trustees- Structure: Part of the Cornwall and Isles of Scilly District of the Methodist Church Accountable to the Methodist Conference The charity's organisational structure and any wider network with which the charity works; Risks: Property & Financial risks considered by regular Leadership Team meetings Major risks considered by the Circuit Meeting Professional advice taken a5 required le.g. legal advice) Adopted Safeguarding Policy, with approved Safeguarding training programme Increase in stipends and its effects on various work flows Relationship with any related partie5; Trustees, consideration of major risks and the system and procedures to manage them. Remuneration.. All Methodist presbyters, of which we have four, are paid a stipend at a level set annually by the Methodist Conference All lay staff are paid pro rata from this stipendiary rate Section C Objectives and activities Set out in the Methodist Church Act 1976 (clause 41- synopsis- Advancement of Religion and any charitable purpose of the Methodist Church or church organisation (See Methodist Church Act 1976) Summary of the object5 of the charity set out in it governing document
To serve the communities in the Mid Cornwall Circuit through religious, social and spiritual activities for a full range of people. Summary of the main activitie5 undertaken for the public benÈfTt in relation to these objects (including within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit) To provide a safe place for mutual support and development where each person can achieve their full God-given potential. To provide governance 5UPPOrt and guidance to individual churches with the Mid Cornwall Circuit. The Trustees have referred to the Charity Commission guidance on public benefit when reviewin8 and in planning our future activities. Additional detail of Objectives and activities (Optional information) You may choose to include additional information, where relevant about.. Within the Methodist Church, local Churches, Circuits and Districts are not defined as lexternall grant-making bodies. Funds, in excess of those required for the general operation of M id Cornwall Circuit, are invested with the Trustees for Methodist Church Purposes. Policy on grant-making- Policy programme related investment,. Much of the oversight. management. and day-to-day activity of M id Cornwall Circuit is undertaken by volunteers (lay people). Contribution made by volunteers. We continue to explore new ways of working to enable the circuit to move forward and serve the community both now and in the future and the Circuit Leadership Team has looked at how we can utilize our human re50urce5 (lay staff l effectively.
Section D Achievements and performance Summary of the main achievements of the charity durtng the year The outworking of our Christian faith, and the key emphasis within the Methodist Church as a whole, is seen in the priority we place on social holiness. In particular, how we share and demonstrate the good news of God in Jesus Christ. Based on what we believe. we seek in all we do to be a blessing to the communities in which we live, work, and serve. Our practical Christianity provides added value to our communities. This can easily be overlooked or even dismissed as of little importance, for much of what we do is not overt or showy. Underpinning all that we do. in our local church families and together as a Methodist circuit, is our faithfulness and commitment to senie the God of the Church and all creation. In this last year we have achieved several significant milestones in advancing our mission. A major highlight wa5 having successfully and positively completed our 1° year of the amalgamation of two circuits. The results can be seen in our ability to serve communities more effectively and foster stronger collaborations across the various regions. Additionally. we expanded the areas of our outreach and deepened community engagement through a range of programs and events. These accomplishments reflect our continued commitment to growth, impact, and the people we serve. We have also responded proactively to the cost-of-living crisis, recognising its growing impact on the communities we serve. We have expanded support initiatives, including le.g. food distribution programs, Warm Space facilities, financial advice servicesl, helping individuals and families manage rising expenses and economic uncertainty. We also celebrated the start of two significant building projects: I. TMC-Truro Methodist Church: A modern, multi-use space designed to serve a5 a hub for worship, outreach, and community activities. 2. Newquay Methodist Church (Newquay MC): A purpose- built facility offering flexible space for both church and community use. enhancing our presence and engagement in the local area. These projects reflect our long-term commitment to creating inclusive. sustainable spaces that meet both spiritual and social needs. Together, these accomplishments highlight our resilience, adaptability, and dedication to serving the community through both immediate sUPPOrt and future-focused development.
All these opportunities enable us to be the hands and feet of Christ through the church providing for those in need. Section E Financial Review It is the policy of the Circuit to hold at least six months expenditure in hand lapproximately £235kl. Reserves are currently £3,404k, of which £3k is held in restricted funds. Free reserves (excluding fixed assets and restricted funds} total £891k. The excess balance is held in reserve to 5UPPOrt mission and ministry projects of the Circuit and individual Churches. Brief statement of the charity's policy on reserves Details of any funds materially in deficit None Further financial review details (Optional information) You may choose to include additional information, where relevant about.. Principal sources of fund5: Agreed annual assessments paid by Circuit Churches Rental from three manses Capital Receipts The charity's principal sources of funds (including any fundrai5ingl: Expenditure on Objectives Most of the expenditure is related to the pay and associated costs of presbyters and lay workers. The stewardship and maintenance of manses Annual assessments paid to the Cornwall and Isles of Scilly Distritt of the Methodist Church How expenditure has supported the kev objectives of the charity; Investment policy and objectives including any ethical investment policy adopted. Investment Policv Uncommitted fund5 are deposited with the Trustees for Methodist Church Purposes, who maintain a policy of ethical investment.
Section F Other optional information Our future plans are aimed at expanding extracurricular opportunities within local school communities and Eco Church initiatives. The Eco Church initiatives will include energy-efficient facilities and integrating environmental education into the various chapels. whilst encouraging the congregants to participate in sustainability projects such as recycling drives and energy saving programs. Section G Declaration The trustees declare that they have approved the tru5tees' report above. Signed on behalf of the charity's trustees Signaturels) Full Name(s) M*Ék wJLS¢V Position1Secretary• Chair etcl Date
CIRCUIT ACCRUALS ACCOUNTS 2023-24 THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS Mid Comwall Circuit, The Methodist Church FOR THE YEAR ENDED 31 August 2024 Cornwall and the Isles of Scilly District Circuit no 12124 Registered Charity - Charity RegFStration number 1135006 If not a registered charity Her Majesty's Revenue and Customs Gift Aid number (The HMRC number is equivalent to a registered charity number in temis of evidence of charitable status and may be used to give to donors or grant funders wishing to see evidence of the organisation's charitable status. Methodist charities in England and Wales that are not registered charities are excepted from registration under Statutory Instrument 2014 No.242} Minister- Rev'd Simon Clarke (Superintendent) Rev'd Mark Dunn-wilson Rev'd Clare Anderson Revd Aubin de Gruchy (appointed 0110912023) Circuit Stewards.. Mr Graham Baines (resigned 3110812024) Mrs Jayne Thomas Mr lan Street Mr Cliff Smith Ms Julie Thomas Mr Richard Thomas Mrs Sue Jackson Mr Ken Yeo Circuit Administrator.. Mrs Karen Armstrong
Mid Cornwall Circuit, The Methodist Church Clrcult No 12124 Statement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to General Fund IUnrestri¢ledl Circvit Model Deslgnated Trust Funds Iunrestrlctedl lunr8Stnctedl Restricted Endowment Fund5 Fund5 Total 2023-2A accounts Income 1 Oonatior*s and 18gacies 2 Inc(Mne fr(xn monÈtsry investments 3 In¢ome from investment prope$ 4 Assessments on Churches 5 Capital Recelpls 6 Granls received 7 Transfer due 10 afflalgamabon 8 (Xher charitae inc•me 9 Total in¢orn• Expenditure 10 Grants and donations 11 Salaries and assal&j 12 Property maintenance 12 CMnexh)nal a5se5sfflent & rrKwJer tnJ5t kvy 14 District Assessment & Lewy 15 Deprecialion 16 orric8 8xpen58S 17 Other oulgobTrJ5 18 Total charitable expendfture 19 Gainslllossesl InvestmS 20 Gainslllossesl on investrnenl propetbes 21 Not IncomellÈxpÈndlturel 22 Transfers tween funds 23 Other gain51llosse51 24 Nèt movornent In fund5 25 Total fund5 brought forvdrd las reststedl 26 Total fund$ carrfjed forward 5.611 29.353 212 35,176 295,837 295,837 482.899 462.899 82.871 384,319 82.871 876.783 492,252 212 31.(XXI 322.316 24.402 37.000 322,316 24.402 10 76.132 12.336 76.132 12.336 15.051 15.051 91.956 W.142 739 $49,091 193 1164,7721 477.747 405 313.380 1164.7721 339.328 174,556 477.747 2.388.235 2.865.982 405 2.678 3,083 313.380 2,730,241 3,043,621
Mid Cornwall Circuit. The Methodist Church Clrcult No 12124 Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Note5 to the accounts Circuit Model General Fund Trust Iunrestrictedl IUnrestricted- 35 restated) Designated Funds (UnrtrICted1 Total 2022-23 las restatodl Restrlcted Endowment Funds Funds Income 1 Donabons and lee$ 2 Income from met investments 3 Income from investment properties 4 Assessments on Churches 5 Capitsl eIpl5- Feock 6 Gran15 received 7 Transfer due to amaWrnatM)n e Olher charitable 9 Total Income 1,090 11,754 6.720 300,365 327.881 16.200 950.724 34,461 1.642.47S 327.881 15.2 20 41.7 34.461 382.973 J.e3 1.244.264 15.238 Expenditure 10 Grants dallonS 11 Salanes and assotialed costs 12 Property ¥tTrainlenan 13 ConnexK)nal assesstnent & rnLthI tr1 le¥y 14 Districl Asse5srnenl & Le¥y 15 DepreciaD"on 16 Offic8 expens85 17 Other oulgoings 18 Total charltable expendliurè 19 Gainslllossesl w rrK)nelary inve5b115 20 Gainslllossesl on investment ptoperbp5 21 Net Inct>rnelltxpvditurel 22 Transfets bet*w furKFs 23 Other gainslllossesl 24 Net movement In funds 25 Tolal funds brought forward 26 Total funds carried lorwartl las restated) 10 235.649 13.784 15.2 250,849 13.784 77.1 77.156 8.906 65.733 401,228 13131 109.441 109,441 175.174 525,869 12801 409,449 1.525,775 15.200 409.449 1,544.272 (1207) 118.5681 1.207 71 117.3611 356,689 339.328 1.543.1)65 845.170 2.388.235 71 2.607 2.678 1.525,775 1.204,466 2,730,241
Mid Cornwall Clrculc The Mothodist Chur¢h ¢I1t No uIz4 Balance Sheet as at 31 August 2024 Gerwal Deslgnotert FJ Fun 2024 T4A•ls 2023 Tnrdls A¢Gounts c1rt Man5e5& 39.4n 12.729 7.605 $9.MT 7VI.Ir 1X2.9)1 745.e63 750,999 1.395,226 12 12 1.395 22e Investmèn 1.705 1.70$ Tor•lHxedass•ts 1151.199 Z.162.796 CurrentA$s•t$ Debi(wE wepa Loan5bythe CYtyJ veS1mBthTfp 1J 33.B11 37.139 2Q.61B Tiu5tees lor Method1 Churth Ceniral FanCe Board 14 14 771455 772.455 74.513 52.837 935.Y74 297.153 140.929 111.840 S,74Q 74.og6 51.394 15gJDI 47 al Barl¢ ha1 14 931 776295 1.378 Cutr•nt Il•bS1iti•s Cdit (due 44J52 44.552 114749 09,9 69,195 56T.445 TolalcurrenfiMblllNtrs 44.552 892.422 N•i¢uttEht a$5¢tsthabllitles 716295 lJ71 To1$$• kss eufr¥rJtkthith 174.556 65.982 3.08J 3N3.621 2.730.241 Long temi llab5lltS lthie 4f¢pr rnore Ihan onEye4vJ Loans tyth•CvJ* 174.556 Z.B65.982 3.D43.621 2,730.24f Fundi ofth• Gwwal Fund lUrestr C¥CU Tntst Funds11th5lril Desnat•d Funds IUniestKieOI 174.S86 174.556 2.165.982 339.32e 2.388.2>5 18 3.MO.5 3,083 2.n7,563 2,678 Reswthd Funds £ndwnentFuThts TolalFunds 174.556 Z.865.982 3.OBJ 3.043.621 2.730.241
Mid Cornwall Circuit, The Methodist Church Circuit No 12124 Cash flow statement for the year ended 31 August 2024 las restated) 2023 2024 Statement of cash flows Note Cash from operating actlvitles Net cash used in operating activities 248,737 238,194 Cash flows from investing artivitles Dividends, interest and rents from investments Purchase of property. plant and equipment 35,176 11,754 122,6271 Net cash provided by investing activities 35,176 110,8731 Cash flows from financing activities New borrowing Repayments of borrowing Net cash used in financing activitie5 Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period 283,913 615,922 899,835 227,321 388,601 615,922 2024 2023 Reconciliation of net income to net cash flow from operating activities Net income for the reporting period las per statement of financial activities) Adjustrnents for: Depreciation and amortisation charges Fixed asset5, investments and investment properties transferred on amalgamation Gains I losses on investments Dividends, interest and rents from investments Ilncreaselldecrea5e in debtor5 Increase/ldecreasel in creditors 313,380 1,525.775 12,336 8,906 0 1914,8761 1739) 1409,1691 135,176) 111.7541 116,3211 (9,6801 124.7431 48.992 Net cash used in operating activities 248,737 238.194 2024 2023 Analysls of cash and cash equivalent Cash in hand Total cash and cash equivalents 899,835 899,835 615,922 615,922
Mid Cornwall Circuit, The Methodist Church Notes to the Accounts 1. Basis of accounting The finan¢i315t3lemenls have been prepafed under the historic cosl convent. and in accordance with the 2019 version ol Accountng and Reporting by Charities.. Sta18menl of RernMe1Pd Practicg ISORP) 3pplvNe to charili8s pr8parwvJ thei¥ accounts in ac£oTdÈnc8 with FRS102- the Charities SORP IFRS1021 an¢J the Chall$ Acl 2011. 2. Funds The funds he constitLrte." Genwal Funds hekj for any purpjst of the Circutt vthich are Untsstricted. The Circuil McNJel Trust Fund has wide purposes defined in Slanding Orders and is categorised as Ltnfeslricled. Reslricled Ivnds which are held for a narrower purpose. O8t8i15 01 sach Matèri ftjnd are disdosed in the final le lo these accounts. Any fuFKls may be repr8sentèd by nK)rè Ihan just cash. 3. Accounting policies Basi5 These a¢xounts have been pTepar•Y on the basis d hi%lorThl c4)sl excepl that inVestmts are shyMI at their market ¥ae al Ihg end of the y88r, on the accruals basis lo show a Irue and lair view of Ihe Circuit's fina•1 posihon and acliviltes. Consolidation Thè Circuit has denomlnalional regulatory oversight in rasp8Ct of the work ol the Churches w(thin the Clrcutt but has no1egal or operabonal control of those churches and th&"r govemirrfJ bcMJEs except in extreme circumstances. For this aSOn. the financial statenerts of Chuffjhes withrn Circuit are not consolKlated into these finanrA sfatements. Income recognition Income is induded in the Statement of Financial ActNities ISOFAI Nthen the Cwcuit becomes entitled lo the resources. and the trustees are re850nably certain they receive the resources.. and Ihe monelary value can be measured with Sufficient reliability. Resources expended This is iecognised Wh a liability is iwjrred, a c0fi5trntNe olgatiOn artses. that results in the Panent being unavoKlable. Liabilitie5 are renised as sry)n as an outlhiw of ecOrM)M benefit is considered more likety than not under the legal or constructive obligation comrTritting the Circuit lo pay (yJt resources. Grants Grants made by the Clrcuit from rt5 own funds arè rècognised in full at the tirnè ol agreèment or when Ihe Circuit accepts that there is a tegal w operational obligatK)n lo make the pawnenl. When the grant ts recurrent over more than one year the balance payable in future years is tr88ted as 8 provision for fulure cornmitments in the Balance sheet against Ihe approate lund. the pr(>vi5ion being released in fulurè years as instalments are paKI in accordaEtrce with thg originally agrged terms. VAT Since the Circuit is not VAT regi8lered. all inwi VAT is charpj Mth ihe expere$ to il refers. Tangible fixed assets for use by the Circuit Tangible fixed asset5 ale capita115ed Il they b& used for more than one JEar, a¥KJ (x)st at least £1.LXIO. The freehold property is shown in Ihe accounts al or3inal cost and improvement expenditure lo date. No depreciation is provkyed the buildings because the Iru51e8s consider th8 cuen1 reSu81 fair value of Ihe manse buildings lon the 8ssumptK)n th81 il had reached the end ol ils useful economic life by the year*ndl lo be not less than its current value. Any depreciabon would not be material. The propety has been reviewed for impairment. Depreciation Depreciation Is charged as lo writè off eost of the ass8is. tth8r Ihan fre8rk1 WoltY. o¥er 1r gsb"maled useful INes, as fdkm: Asset class Fixtures, fittiThJs and equipment Depreciation method and rate 25% reducsng balance Investment Properties Investment properties includes woperties whh arè not used lor the purpK)$85 of the charity. Inveslm8nl properties a held at estimated market value as prOVed by the Circuit Slewards. Investments Inve5trn•nts are valued in Ihe balance Sheet at market value al the ypar end. Investmenl irKx)me 15 IrlUdwI in tho a¢counts when receNable and any gains or losses ¢)n ievaluats.on al th8 y8ar end are 5hovm in the SOFA. Debtors and Prepayments These amounts aE owed to th8 Circuit and indudt th8 payrn8nt of Ihe Sept8mbèr 5tipand in August. togethèr with oiher prepayments and accrued income. Creditors Creditors includ8 both sundry exp8ns8s arKI S1 1st quts ass8ssm8nl C$ed in athy8F.
Mid Cornwall Circuit, The Methodist Church 4. Donatlons and legacles Unrestrlcted Clrcuit Model Trust Fund Designated Restricted Funds 2024 Total 2023 Total Donations Granls Fudough grant Total 1,090 16,200 17.290 5. Charitable activities Unrestricted Circuit Model Trust Fund Designated Restricted Funds 2024 Total 2023 Total Manse rental income Other income Total 71.628 11.243 82,871 71,628 11.243 82,871 34,461 34,461 6. Investment income Unrestricted Circuit Model Trust Fund Designated Restricted Funds 2024 Total 2023 Total Inter8sI and dividends Total 5.611 5,611 29.353 29,353 212 212 35.176 35,176 11.754 11,754 7. Other trading actlvlty Unrestricted Circuit Model Trust Fund Designated Restricted Funds 2024 Total 2023 Total Other income Total
Mid Comwall Circult, The Methodist Church 8. Payment to Trustees Payments made lo Iru51ees lor additional services prowded to the Circuit by agreemenl with ihe Circuit Meeting. 2024 2023 Slipend5 and salaries paid to fflini51er5 and lay staff in the normal course of their duties are disclosed in the staff cosl nole below. Number of Iruslees who were paid expenses Nature of the expenses 6 trustees were reimbursed travel expenses totsllirwJ £3.514 during the peri(Kl. {2023: 7 Iwslees £5,973}. 9. Fees for examination or audlt of the accounts Independent examiner's or audiloT5' fee5 for reporting on the accounts Other fees leg.. advice. accountancy services) paid lo the independent examiner or auditor 2.550 5.950 1,140 2,660 10. Paid employees Staff Costs paid during the yèar were: Ministers SIip8nds, salaries and benefits in kind Employer's National Insurance costs Pension cos15 113.701 10.725 23.033 81,278 7.678 21,851 workers and adminislralor Stipends. salaries and benefits in kind Employer's National InSurare costs Pension costs 155.786 11,795 3.829 126,014 8,283 3,012 Supernumeraries Apprenticeship Levy Payroll service charge 1.329 1,542 576 958 1.199 576 Total staff costs 322.316 250.849 Average number of fu114ime equivalent employees In the year were: 13 10 No employee eamed more than £60,(KKI per annum
Mid Comwall Circuit. The Methodist Church 11. Tanglble Flxed Assèts Currently the Mid Comwall Circvil own Ihree manses: 32 Hurland Road. 23 Korsli Veur. and 26 Tredinnick Way iogelher with various fixlures. fith'ngs and equiprnenl. aymen son account and assets under construction Fixtures. fittings and equipment Resldential Land Buildings Manses Total an¢e restated roug orwar as 709,656 88.514 798,170 Additions Revaluations l+l-I Disposals l-l Transfers to inve51menl property Transfers due lo amalgamation Balance crtirried Iofvrard 709.656 88.514 798.170 Accumulated depreciation Balance brought forward 39.171 39.171 Depreciab'on charge lor year l-l 12.336 12.336 Revaluations l+l-) Disposals l-l Transfers'1+1-I Balance ¢arried forward Net book value 51,507 51.507 Broughl forward as restaied 709.656 49.343 758.999 Carried forward 709.656 37.007 746,663
Mid Cornwall Circuit. The Methodist Church 12. Investments The funds that support the Circuit Model Trust Fund and the Manses Fund are various accounts held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month. These are regarded as medium and long term investments. TMCP is Ihe legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction. the Managing Trustees comply with charity law and Methodist law and policy as detemiined by the Methodist Conference. 2024 2023 Analysis of investment movements Investments listed on a recognised Stock Exchange Investments held in CFB Mana ed Funds Securities not listed on a reco nised stock exchange Other investments - investment roperties Total 9,310 8,571 1,395,226 1.404,536 1,395,226 1,403,797 2024 2023 Change in investment values Car in market value at beginnin Add: additions to investments at cost Add: Transfers of investment properties on amalgamation Transfer of investment properties from fixed assets Net gainl loss} on revaluation Carryin market) value at end of ear 1.403,797 7,644 1,208 368.355 617,421 409,169 1,403,797 739 1,404,536 ear
Mid Cornwall Circuit, The Methodist Church 13. Analysis of current assets 2024 2023 Debtors and prepayments Trade Debtors 7,038 Other Debtors 11.500 Prepayments 15,273 19,602 Accrued income 3,328 1.216 Total debtors and prepayments 37,139 20,818 14 Analysis of cash at bank 2024 2023 Bank balan held at Lloyds TSB Current account 52,837 177,840 Bank balan held in TMCP Circuit Model Trust Fund 772,455 297,153 Bank balan held in Stipends Account I CFB Account 74,543 140,929 Central Finance Board Circuit Fund Accounts Total Cash and Bank 899.835 615.922 15. Analysis of current liabilities and long term creditors 2024 2023 Trade creditors 539 Other creditors Deferred income 35.880 64.519 Accruals 8,672 4,237 Total Current Liabilities 44,552 69,295 16. Capital commitments and contingent liabilities At the 31st August 2024 the Circuit has no capital commitments. No contingenl liabililies were identified al 31 sl Augusl 2024.
Mid Comwall Circuit. The Methodist Church 17. Loans and crèdltors due aftèr one year There arè no loans credrtots due after ong year. 18. Detailed analysls of Indivldual fund m0ments Unrestricted Funds as restated Fund Name Opening Balance 339.328 Income Expendtture Transfers Galns I Lossas Closing Balance 174,556 Purpose of the fund G8neral Fund 384.319 1549.0911 Designaled Funds CMTF 2.388.235 492.252 115.0511 546 2,865.982 Tota15 2.727,563 876.571 .142 3.040,538 Restrfcted Funds Fund Name Opening Balance Income penditure Transfers Galn$ I Losses Closlng Balance Purpose of th8 fund Future wortos at Probus Probus Holding furKI 1,513 212 193 1.918 Interest from Gerrans, Medlyn and Nicholls funds. Interest in Curwnt Account 1,065 1.065 Support for staff 5ts for Ihe Chaplaincy Pr ecl. Upkeep of building Chaplaincy Project JH Medlyn 100 100 Tota15 2.678 212 3.083 Endowment Funds Fund Name Opening Balance Income Expenditure Transfers Closiny Balance Purpose of thè fund Totals
Mid Cornwall Circuit, The Methodist Church 19. Post Balance Sheet Events There were no post balance sheet evenls identified. 20. Prior period adjustment The following adjustments to the comparative figures have been made to correct the accounting treatmenl of a Church under construction. The Church was gifted to Newquay Methodist Church by the Circuit and designated as Local Church Property in March 2022. A prior period adjustment has been made to reflect ownership of the church under construction as being with Newquay Methodist Church from this date, such that the property was not transferred into the Mid Comwall Circuit on amalgamation on 1 September 2022. Total funds at 31 August 2023 las previously stated) Reduction in transfer in on amalgamation Total funds at 31 August 2023 las restated) 3,147.796 417.5551 2.730.241 Nel income for year ended 31 August 2023 (as previously stated) Reduction in transfer in on amalgamation Net income for year ended 31 August 2023 (as restated) 1.943.330 417,555 1,525,775
Mid Cornwall Clrcuit, The Methodist Church Declarations and Scrutiny l eonfimi that these accrnals-based a(xx)unts for the year lo 31 August 2024 have been prepared from the records of the Circuit and that they indude all funds under the control of the Circuit meeting. Signature of treasurer . Name and address of treasurer ..... Post Code...l.&1.3.1.kL) Presentation to the Circuit meetlng l ¢x)nfimi that the annual reFK)rt and accwnts for the year ended 31 August 2024 were presented to the Circuit meeting held on . l fl.l.o.ts I202 S- Signature of the Chair of the meeting Name of Ihe Chair of the meeting Dale . 202
Independent Examiner's Report to the Trustees of the Mid Cornwall Circuit, The Methodist Church Charity Number: 1135006 I report to the Iruslees on my exarnination of the accounts of the Mid Comwall Circuit, The Methodist Church for the year ended 31 August 2024. Responsibilities and basis of report As the Circuit's Iruslees, you are responsible for the preparation of the accounts in accordance wilh the requirements of the Charities Act 2011 1.the Act.). I report in respect of my examination of the Circuit's aG(x)unts carried out under sedion 145 of the Act and, in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under seclion 145{5)(b) of the Act. Independent Examiner's Statement The Circuit's gross income exceeded £250,000 and l arn qualified to undertake the examination by being a qualified membor of the Institute of Chartered AccoLJntants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in conneclion th the examination which give me cause to believe that in, any malerial respect: the accounting records were not kept in accordan with section 130 of the Act., or the accounts do not accord the accounting records; or the accounts do not Comply wth the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fairf view, which is nol a matter Gonsidered as part of an independenl examination the trustees. annual report is not consistent wtth the accounts I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Darren Pery Chartered Accountant (ICAEWI Francis Clark LLP Lowin House Tregolls Road Truro TR12NA Date.. 24 June 2025