2024-08-31-accounts

The Nidd Valley Methodist Circuit 29/26 Financial Statements for the year ending 31 August 2024 Charity Registration No: 1135028

Nidd Valley Methodist Circuit 29126 Staffing 2023-2024 Ministers Rev Benjamin Clowes Rev Gordon Hay Rev Mose5 John Circuit Superintendent Minister Rev Lesley Taylor Deacon Mr Gary Hoare started 01109/2023 Lay Employees Mrs Clair Webster Mrs Katy Morley Mr Nlck Garrett started 22IOV2024 Clrcuit Stewards Mrs Sharon Wright Mrs Sheila Outhwaite Mr Tony Pearson Mr Graham Taylor Mr Edward Walton Senior Circuit Steward appolnted from 0110912023 Clrcuit Treasurer Names and addresses of advisers Bank CAF Bank Ilmited 25 Klng5 Hill Avenue Kings Hill West Malling Kent ME19 4JQ Investment Manager & custodian trustees Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester Ml IJQ Investment Manager CCLA Fund ManageTS Limited PO Box 12892 Dunmow Essex CM6 9DL Independent Examiner P Jackson FCCA Jackson Whitwham Chartered Certified Accountants Unit 9, The Innovation Centre Conyngham Hall Knaresborough H65 9AY Charity Registration No. 1135028

The Nidd Valleymethodist Circuit 29/26 General Notes to the accounts for the year ending 31 August 2024 l. Accounting Standard The financial statements have b￿n prepared in accordan￿ with the Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard (FRS) applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2015) - (Charities SORP (FRS 102)). 2. Public benefit entity The Nidd Valley Methodist Circuit meets the definition of a public benefit entity under 'FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated. 3. Basis These accounts have been prepared on the basis of historical cost. The accruals basis has been used and Trustees present accounts that show a true and fair view of the Circuit's financial position and activities. 4. Content The financial information presented is relevant, reliable, comparable and complete. Where estimates are used they are based on experience, research and judgement. The accounts are expressed in £Sterling rounded to the nearest pound. 5. FS102 SORP2015 This is the eigth year that the FRS102 SORP 2015 has applied to the Circuit Accounts. These accounts are compliant with FRS102 and FRS102 SORP 2015. The accounts have been prepared in accordance with applicable charity law in England this being the Charities Act 2011 and Sl 20081629 (Charities Accounting and Reporting Regulations) and, pending the making of replacement Regulations specific to SORP 2015 in accordance with Reg 8 {4)(d) of Sl 20081629, the charity trustees have departed from the requirement of Reg, 8(5) by following SORP (FRS102) instead of SORP 2005 to the extent necessary to give a true and fair view in the circumstances. 6. Going concern Based on the monetary assets and human resources available at 31 August 2024, the trustees believe that the Circuit is a going concern. 7. Consolidation The Circuit has denominational regulatory oversight of the work of the Churches within the Circuit but has no legal or operational control of those churches and their governing bodies except in extreme circumstances. For this reason, the financial statements of the Churches within the Circuit are not consolidated into these financial statements. Wesley Centre Harrogate is registered as a separate Charity and prepares its own accounts. Charity Registration No. 1135028

1. Income recognition Individual amounts under 'Other Income, in the Statement of Financial Activities (SOFA) will be shown separately if they are considered material. The Circuit acts as agent in two matters. a. The collection from Churches and the Wesley Centre and payrnent in respect of various Funds controlled and administered by The Methodist Church centrally. b. The administration on occasions (application, collection and disbursement) of grants requested by Churches within the Circuit from, but not limited to, the District and Connexion. In accordance with the Charities SORP (FRS 102) the time of volunteers is not recognised
2. Expenditure This is recognised when a liability is incurred, or a constructive obligation arises. where the amount is reliably measurable and it is considered more likely than not that there will be an outflow of economic benefits.
3. Grants Grants made to Churches within the Circuit and Wesley Centre are recorded in the accounts when payment is made. Any Grant agreed but not paid at the year end will be shown as a creditor.
4. VAT The Circuit is not required to be VAT registered.
5. Monetary Investments The Circuit's investments are in monetary assets classified as basic financial instruments under FRS102 and are held by the Trustees for Methodist Church Purposes {TMCP) as custodian tiustees and CCLA Investment Management Limited. The valuations, at market value, are those provided by TMCP and CCLA at the 31 August each year. If applicable, the unrealised gains arising on investments at the end of the year are disclosed in the SOFA.
6. Investment Propety From time to time the Circuit may hold residential propety (formerly manses) which is surplus to its normal requirements. Where this is the case and it is anticipated that the properly is unlikely to be used as a manse within a 2 year period, the property is classified as Investment Propety (whether let out or not) and any lets are at market rates. The Circuit are Managing Trustees of 3 commercial properties, two of which are let out under an annual licen￿ and one is let out under a commercial lease at an agTeed market rent.

7. Methodist Connexional Funds The Methodist Church Connexion raises assessments against Districts. The Districts remit these assessments quarterly to The Methodist Church Fund. The Districts, in our case The Yorkshire North & East District, raise assessments against their Circuits to cover the Methodist Church Connexion assessment plus the costs of the District. This is remitted quarterly to the District. The majority of the costs of the Distiict relates to the salaries for Lay Employees. Sometimes the Circuit may act as agent for ad hoc collections for various funds controlled and administered by The Methodist Church. Charity Registration No. 1135028

8. Endowment Funds Where the Circuit holds money which may not be spent and must be retained as capital to generate an income, the money or assets to be retained are classified as an Endowment Fund. The capital is shown in the balance sheet in the column for endowment funds. The income may be restricted or unrestricted depending upon the terms of the endowment.

9. Ministers, manse costs The Circuit is required to provide accommodation for each minister in the Circuit and their families and this is seen as a benefit to the Circuit. In view of Her Majesty's Revenue & Customs (HMRC) concessions the Ministers are expected to occupy the manse provided for them. The Circuit bears the cost of building repairs, maintenance, buildings insuran￿, TelephonelBroadband if in the name of the Circuit, Council Tax and Water rates. These figures do not need to be separately disclosed to HMRC as they are agreed by HMRC as benefils-in-kind.
10. Assessment on Churches The Circuit comprises 13 churches and Wesley Cenlre. Each church is assessed to meet the majority of the overall net cost of running the Circuit. Other income is received from investment income, property letting income and grants received from various sources. The annual Assessment is usually approved by the church treasurers via email. It is then presented to the Circuit Meeting for approval. At the present time it is usual for a contribution to be included from the Circuit Reserves. The formula is based on the number of members and total income of the previous year. The Assessments are paid quarterly in advance and are treated as pre-payments on a receivable basis.
11. Staff - 2023/2024 During the year we paid 4 Ministers, 1 Deacon, 2 part time Lay Pastors and a part- time Circuit Administrator. No employees received an income of more than £60,000. There is no accrual for holiday pay as the holiday year ends on 31 August. Stipends are increased from sl 1 September each year on the percentage increase as approved for Ministers by The Methodist Conference which meets in July each year. Lay employees, salaries sl are increased from 1 April each year such that no one is paid less than the Real Living Wage. All are paid at or above the Living Wage figure.
12. Pensions. The Circuit paid a contribution of 26.90/0 in respect of Ministers and 6 % relating to Lay Employees.
13. Sabbaticals. Each Minister is entitled to a 3 months sabbatical every 7 years and the expenses incurred are met by the Connexion with the Circuit continuing to pay the Stipend. During the year one Minister had a sabbatical.

14. Payments to Trustees. It is generally not our practice to reimburse voluntary trustees involved in the administration of Circuit affairs although claims for postage, printing, stalionery & mileage (in line with Methodist Church guidelines) expenses can be made. Charity Registration No. 1135028

15. ApprentI￿ShIp Levy Although the Circuit is registered as a separate Charity, HMRC have classified The Methodist Church as a laige employer in view of which the Apprenticeship levy applies to the Circuit from April 2017

16. Glossary of terms CFB. Central Finan￿ Board of the Methodist Church. Provides a Common Deposit Fund. Church. A group of members from fewer than 10 to more than 300. Circuit. A group of Methodist Churches within an area - usually between 10 and 30 Churches. Circuit Meeting. A meeting of The Managing Trustees of the Circuit. Usually persons appointed by their local Churches and others by virtue of a role they undertake for the Circuit andlor their local Churches. For example,. The Ministers appointed to the Circuit and Circuit Stewards. CCLA CCLA Fund Managers Limited. Managers of investment funds transferred to the circuit from Hampsthwaite Methodist Church when it Ceased to Meet. CLT. Circuit Leadership Team. A group of Circuit Trustees responsible for the day to day running of the Circuit and dealing with policy formulation. Generally the CLT comprises the Ministers appointed to the Circuit and the Circuit Stewards. CMTF Circuit Model Trust Funds. Generally speaking this is money relating to the sale of Methodist Property. Connexion. The Methodist Church in Great Britain which includes the Head Office at Methodist Church House in London, all Methodist Districts, Circuits and Churches. Connexional Funds. The Designated andlor Restricted Funds held and administered by the Connexion in furtherance of its charitable and Mission objectives. District. A group of Circuits usually within the same geographical area. DAF District Advance Fund. A levy fund from which grants are available. Lay Employees. People employed under a Contract of Employment TMCP Trustees for Methodist Church Purposes. Under an Act of Parliament the legal owner and Custodian Trustee of all Methodist Model Trust Property including church buildings and let out properties, manses, 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 guidan￿ and acting under their direction, the Managing Trustees comply with charity law, Methodist law and polity determined by Methodist Conference. Charity Registration No. 1135028

Nidd Valley Methodist Clrcult 29126 Statement of Financlal Activities (SOFA) for the year Ènding 31 Aueust 2024 Nate5 Genetal Funds luorewffictedl ClrcuTrt Model Trust FuNd lunresiirctedl Restrtrte Fvnd5 EndowmÈfit Funds Totsl 202>2024 Total 2022-2023 Income DonalloThs & Le8acies Income from mot)etèry Investments lftcome from InvestmentpropertlÈs Assessment on Churches Nl IIK> N2 15,275 14.620 327.817 18.S28 53 33,B56 14.620 3Z7,817 59.1 I7,￿￿] 22,189 14.620 350,193 N3 N4 Pen51oll Fund5 3ddltl¢)n31 contribs refunded N5 59.( Grants & ContrlbLrtions received N6 17,(XKI Totollncome 374.812 77,528 452.393 387,102 Expendlture Grants & Donatlons pèld Stlpendsl Salarles Telephone & Travel Insurance & UtllltSes N7 3.868 3,868 240,608 13,391 20,880 7,669 8,439 1,054 80,059 2,369 2.886 11,629 61,732 1,52S 3,697 5,342 465 148 io N8 240.608 13.391 176.210 11,090 16,828 7,548 6,925 loa N9 lob NIO 20. 7.669 IOC Assotlèied Stafflng Costs Supernumarles Preathlng Fees Youth Work Nll iod 8,439 1.054 ,059 2,369 2A86 Ioe li Property Malntenante- Manses Ilulnquennlal Reports Rented propertycosts ConneMloTral Asst & Motdel Trust Levy 01strlrt A55e55rnent & Levy Bank charges Olflce Exptn5es Other outgolnKs rotolchurltoble txpens¢s lances N12 38,328 4,359 7,614 16,683 60,B72 1,703 3,848 5,903 357.975 Ila Ilb N13 12 N14 11.629 13 61.732 14 774 15 3.697 5.342 452,742 -77,930 16 NJS 17 12,403 50 -11755 18 Galn51llossesl on Church closure GalnsllLossèsl on Monètary InvÈstrnÈnts N16 -6,126 35.107 .6,126 36A89 -5,292 841 19 N18 1.373 20 21 Net In¢ome/Expendlture 66.498 59 17,608 24.676 Transfer between fuTrds 48.927 48,927 23 Pioperty sold- valuatlon per accounts Nét movementlnlunds 24 -22 IX.571 59 17,608 24.676 2S Tolal Funds bfou8ht fO￿ard 26 rotqlFunds¢qrrl¢dlonv¢7Td 2535,771 1535.749 271.724 289.29S L103 1.162 2.808,598 2.826 2t76 783 922 2.808.598 Net TotolFunds corffjedfonvord 2.535.749 289.295 1.162 2.826206 18Q&598 (Tr￿[ty Re￿¥1￿ No. 1135D28

Nldd Valley Methodist Clrcult 29126 Balance Sheet as at 31 August 2024 Notes Gefierol ctrcuit Mod Trust Fund (U￿eStI1￿edJ Restrirt Funds Endowment Funds Total 31-AfjJg-24 Total ai-Aug.23 lunrestrlrtedl Flxed A5sel5 Clrcuit Manses & Equlprnent Investment Prnpertles Inve5tments-TMCP/CCL4- shareslunlts Totol FlxedAssels N17 N17 N18 1,384,445 701.078 348.998 1,384,445 701,078 368,244 2.453.767 1,384,445 701,078 331.756 2.417,279 19,122 124 1434.521 J9.J22 J24 Current Assets Deblors Inveslmenis- TMcp/CCLA- Inte¥est lunds Central Flnance Board Dep051ts Cash at Bank N19 N18IN19 NJ8/N19 N19 17,718 42,353 122.373 17,679 200.123 17,718 313,564 122,373 17,679 47J.334 17,434 295,971 152,450 12.811 478.666 270,173 1,038 rotJl CvrrentAsstts 270.173 1,038 Currenl Llabllllle$- due < l year Ciedltors N19 98095 98,895 87,347 rotolCvrrentUubllltle5 895 87.347 Nel CviintAsséisfllttbllltls IOJ.228 270.J73 1,038 372.439 391,319 Lon8Yerm Ilabllltles- dye > l yeor Credltois rotollonq Teim Uobllllles AletAssets 154749 289,29S J,162 Z826,206 2,808.598 Funds of the Clrcult General Fund Iunrestrlctedl Clfcult Model Trust Fund IunTe51rlrlEd) Restflcted Funds Endowrnent Funds 2,535,749 2,535,749 289.295 2,S35,771 271,724 289.295 1,162 Tolt71Fund5 2,535.749 289.295 1.162 2.824206 1808.598 Ch3rii fle 5tiationNo. 1135028

Nidd Valley Methodist Circuit 29126 SOFA Notes for the year ended 31 August 2024 2024 2023 Nl lyonatlons & legaties Donations Unrestricted 100 100 N2 Incomefrom Monetury Investments CFB & TMCP Unrestrlcted Circuit model Trust Restricted Endowment 15,275 18,528 13,270 8,888 53 31 TotGI 33.856 22,189 N3 Incomefrom Investment Property Lettlng 56 Park Gate, Knaresborough Lettln8 Car Park, Tockwith, York 12,900 1,720 12,900 1,720 Totol 14,620 14,620 N4 Assessment on Churches Church Bilton area Gracious street Harlow Hlll Kearby KlllinEhall Kirk Hammerton Pannal Park Grove Scotton Starbeck Trlnlty Wesley Centre Wesley Chapel Woodlands 30,397 80,856 10,884 3,220 8,884 3,648 36,260 12,612 3,432 33,828 38,268 31,809 84,008 10,368 2,928 8,992 3,792 38,168 12,796 3,120 38,256 34,792 18,000 18,152 45.012 16.016 49,512 Total 327,817 350 193 N5 Pen51on Funds addltlonoltontrlbs refunded Additional contributions made Nov21- refunded 59,000 Totoj 59,000 N6 Grants & Contrlbutlons received Disrlct Grant for Deacon 17.000 Totaj 17.000 Chari Re istration No. 1135028

Nidd Valley Methodist Circuit 29/26 SOFA Notes for the year ended 31 August 2024 2024 2023 N7 Grants & Donations pald Poid Gracious Street Gracious Street Trinity Wesley Centre live streaming phase 2 Energy audit Energy audit Energy audit 1,080 929 929 930 Total 3,868 N8 Stlpends/St71aries Gross Stipends/Salaries Employers National Insurance contributions Employers Pension contributions 183,955 16,184 40,469 134,459 11,846 29,905 Total Staff costs 240,608 176,210 Average number of Staff employed during year N9 Telephone & Travel Telephone costs Travel 6,724 6,667 5,338 5,752 Total 13,391 11,090 NIO Insurance & Utllltles Council tax Insurance Water Rates 14,099 4,539 2,242 10,167 4,580 2,081 Total 20,880 Nll Assoclated Stofflng costs Fixtures, fittings & Equipment Gas Equipment Sepdice- manses Removal cost5 Supervision Expenses & Training Training & Study courses Worship Books/Materials 832 764 4,853 15 147 1,058 874 5,252 542 880 Total 7,669 7,548

Nidd Valley Methodist Circuit 29126 SOFA Notes for the year ended 31 August 2024 2024 2023 N12 Manses Manse Maintenance 80,059 38,328 Total 80,059 N13 Rented property Costs 56 Park Gate, Knaresborough 2,886 7,614 Total 2,886 7,614 N14 ConnexlonalAsst & Model Trust Levy Dlstrict Levy on CMT fund 11,629 16,683 Total 11,629 16,683 N15 Other outgolngs Apprentlceshlp Levy 8ankfees Circuit Stewards expenses Harrogate Hub-annual donation Hospitality / catering Independent Examiner's Fee Leeds Methodlst Loans & Grants Soc-annual subs Payroll Charges Recruitment expenses Relocation Expenses Relocation Grant (Tax Free) Stationing Appointment expenses Supernumerartes - thank you gift Tockwith Graveyard Malntenance Misc items under £100 Land Registry costs 1,131 60 107 200 183 1,080 70 480 88 72 840 60 131 186 1,080 70 480 131 172 600 818 418 400 940 113 790 536 Total 5,342 5,903 N16 Church Closure- Hampsthwaite MC Insurance -3,306 -1,437 -75 -1,308 -3,019 -2,152 653 -774 Utilitles Closure cost5 Selling costs Transfer investments & bank account to Circuit -6,126 -5,292 Charity Registration No. 1135028

Nidd Valley Methodlst Circuit 29126 N17 Summary of Circuit Property as at 31 August 2024 Property Land Reg ref. NYK314412 Note5 2022-2023 Sold Revaluatron 2023-2024 MansE Let Investment Emerald C105e Leadh311 Lane Tennyson Avenue Woodlands Drlve York Road 407.050 250.000 275,000 215.000 237,395 407.050 2SO.000 275.000 215,000 237,395 407,050 250,000 275,000 215,tx)o 237.395 NYK222213 NYK166112 NYK480751 4YK370335 Park Gate NYK368517 21L078 211,078 211,078 Wesley House 32134 Cheltenham Parade NYK504084 I￿.000 390.OC¥J loo.000 390,000 loo,000 390,000 NYK486949 Grove ords Klrb Overblow Tockwith NYK369154 NYK370352 Sub tota15 211,078 490,000 Totols 2024 2,085,523 2,085,523 1.384.445 701,078 Totuls 2023 2.085.523 1384,445 701.078 Notes Valued at cost price ln Au8USt 2￿7 Awaiting a Yaluailon Based on rdluatlon by FSS of Haifv8ateJuty 2018 8a5ed on the Sum Insured In 2013 Based on valuatlon by FSS ol Harro8ate lo 2012 Graveyard5 have no marketvalue No property Is (oftsidefed to bts valued hl8her than market value The Clrcult Is the Managrng Trustee. lorwesley House, 32 Chelteftham Parade and 34 Chelienharn Parade, Hairo8ate. It Was a8ieed by the Clrtull Meelin8 11)at the net rents lor these prupertjes would be collected by Wesley Cenlfe Harro8ate and be part ofthelr ac¢ounts. Wesley Cenlfe15 responslblt to Nldd Valley Methodlst Circult but Is reeistered a5 a separate chailiy number 1168825 Note re##rdln8 revaluatltsn of property All property sales arè suble¢t to a levy byTMCP bein8 20 X on first £ILKI.LXO thereafter40% Charity Registratron No. 1135028

Nidd Valley Methodist Circuit 29/26 N18 Summary of Investments as at 31 August 2024 2024 2023 Change In Investment values Carrying {Marketl value at beginnlng of year Add addition5 in investments at cost Less dlsposa15 at carrying value Net Gain/lLoss) on revaluation rounding 331,756 330,915 36,489 841 Carrying {Market) value at end of year 368,244 331,756 Analysls of Investment movements Investments listed on a recognised Stock Exchange Investments held In common investment funds 368,244 313.564 331,756 295.971 Total 681,808 627,727 Anulysls of Indlvlduolfunds Unre5trictedfunds Investments- TMCP - shares Investments- CCLA - Income units Inve5tments- TMCP- Interest funds General Funds Clrcuit Model Trust Fund {CMTF) Reserves & projects Reserves & projects Reserves & projects Running expenses Project fundlng 268,748 99,372 42.353 58,875 270,173 739,521 239,311 92,329 41,009 95,348 253,975 721,972 Restrlcted Funds Endowment Funds 1,162 1,103 Endowment Funds Fund How invested Current value Annual Income Usedfor Bootland & Dunwell 686 Trustees Interest Fund Mrs M Glll 5990 CFB Managed Mixed & Trustees Interest Fund 1.037 125 53 Account retalned General Circult Totals 1.162 57 Investments TMCP hold the CMTF In a Trustee Interest Fund on whkh Interest is credited ro the Fund each month TMCP hold other funds from which payments are made to the CFB account throughout the year. CCLA hold funds on whlch dlvldends are pald quarterly into the CAF Bank account They are regarded as medium and long term investments. Charity Registration No. 1135028

Nidd Valley Methodist Circuit 29/26 N19 Current Assets & LiabilitAes 31 August 2024 2024 2023 Debtors Prepaid Stipends Other prepayments 17,065 653 16,777 657 Total 17,718 17,434 Cash & Bank Balance at TMCP Balance at CFB Balance at CAF Bank 313,564 122,373 17,679 295,971 152,450 12,811 453,616 461,232 Credltors < l year Prepaid Assessments Independent Examiner Grants payable Other creditors 82,085 1,100 81,990 1,100 15,710 4,257 98,895 87,347 Charity Registration No. 1135028

Declaration and Scrutiny I confirm that these accruals-based accounts for the year to 31 August 2024 have been prepared from the records of the Circuit and that they include all funds under Ihe control of the Nidd Valley Methodist Circuit. signatu￿ of the Circuit T￿aSurer Date: Iij. Il. 2oZ4 Name and address of the Circuit Treasurer: Edward Walton, 4 Stockwell Avenue, Knaresborough HG5 OLA Presentatlon to the Circult Meeting I confirm that the annual report and accounts for the year ended 31 August 2024 will be presented to the Spring 2025 Circuit Meeting. Signatur6 of the Chair of the Circuit Meeting: Name of the Chair of the Circuit Meeting". Rev Ben Clowes Date: 20)3} Lr Independent Examiner's Report to the Trustees of the Nidd Valley Methodist Circuit The Circuit's Trustees are ￿sponsible for ensuring that the annual report and accounts for the year to 31 August 2024 present a true and fair view of the Circuit's income and expenditure for the year and of its assets and liabililies al the balance sheet date. The trustees consider that an audit is not necessary for this year under Section 144 of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to: examine the accounts under Section 145 of the Charities Act 2011 follow the procedures laid down in the general directions given by the Charity Commission under Section 145 (5)(b) of the Charities ACT 2011 state whether particular matters have come to my attention. Basis of Independent Examlner's Report My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts with those records. It also includes consideration of any unusual items, in nature or scale, or disclosures in Ihe accounts, seeking explanations frorn the trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a true and fair view. My report is limited to those matters set out in the statement below. Charity Registration No. 1135028

Independent Examiner's Statement In connection with my examination, no matter has come to rny attention 1. Which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordan￿ wilh Section 130 of the Charities Act 2011 to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act 2011 have not been met, or 2, to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 3. 1 have not obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts. bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Signature of the Independent Examiner: Name of the independent examiner." P Jackson of Jackson Whitwham CCA Relevant professional qualification of the independent examiner: F.C.C.A Address: Unit 9, The Innovation Centre, Conyngham Hall, Knaresl)orough HG5 9AY Date.. L41ii (Trq Charity Registration No. 1135028

RESERVES POLICY Report on behalf of Nidd Valle Methodist Circuit 29126 ('Church Counclll Clrcult MeetlnglDlstrlct) To District Treasurer {'Circuit MeetinglDistrict) We submit our annual report in accordance wilh the (iii) We have agreed a Reserves Policy which 18 requirements of the Methodist Conference and the set out overleaf and is recorded in the Charity Commission guidance in CC19. trustees. minutes and our Annual Report {1) The Irustees have established their mission (iv) We recognise the need to be accountable as aims taking into account all of the resources charity trustees for all Ihe money which comes available in terms of people. pioperty and into our hands and will provide further money nfomiation as requlred by the CircuiVDistricVConnexion (li) MissFon iniliativeslprojects have been costed or estimates made of projected future costs which take into account the needs of the buildings and the requirements of the Quinquennial Inspection Reportls (v) Our Report is attached overleaf please delete as appropriate To be completed by Receiving Body The "Circuit MeetinglDistrict received the RESERVES POLICY of "Church Councillcircuit MeetinglDistrict Policy accepted and acknowledgement sent to the trustees YES Policy noted and the following enquiries made of the trustees Responses received and any further aclion taken 'ClrcultlDlslrict Slgnatures Please delete as a nate Date...........-

RESERVES POLICY of Nidd Valley Methodist Circuit 29126 ('Church Council ICSrcult MeetingWIDlstrict General Funds held at YE 3110812024 £739,521 Restrlcted Funds held Endowment Funds held Reserves policy for General Funds The Policy is to run reducing annual deficits until 2029130 which, along with currently known one-off items of expenditure, offset by income from the sale of the Hampsthwaite church (£145,000), will reduce the reserves to approximately £250,000. This is equal to 6 months expenditure. From 2030131 our objective is to break even annually. 5. Polic nla for Restricted Funds Terms relating to Endowment Funds held None,. Interest from the endowment funds is available for General Circuit purposes This Reserves Policy has been approved by The Circult Meeting held on 20 March 2025 ('Church CounciiEIIcircuit meeting￿l01Strict[l) Treasurer Trustee Full name Full Name 8 PWL t7 WALI o Signature Signature