Docusign Envelope ID". 8A073EFF-72EfAB2F-8DD7-D39EOBDC9317 THE METHODIST CHURCH- MANCHESTER CIRCUIT ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 AUGUST 2024 Registered Charity No. 1135067
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 T(IUSTEES' ANNUAL REPOIIT ANCI THE HP4ANCIAL8TATEIENT8. CONTENTS FOR THE YEAR ENDED AUGU8T 312024 INDEX Charity information Trust88s' r8POrt Auditor's report 10-11 Statement of finan31 actNiti8S 12 Balanc8 sheet 13 statement ol cash flows 14 Notes lo the fin811 518tem8nts 15-27
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 CHAiIITr INFORiAATIOtr4 FOR THE YEAR ENDEO ALIGU8T 312tr24 TRUSTEES Name Mary Suzan Yvonne Papa Graham Janet Appointsd by United Didsbury Crurnpsall MCCISeu8tary Manley Park MCC Withington MCC Moston MCC 4Jarniak A11en Anderson Boyd And0h-KEkU Ascroft Bailey Bailey Blackrn(xe Bukuru Carrdl Colllns Cox-DarlirvJ Curos Dada HO MCC Circuit Steward Sandra Jackne Moston MCC Sharif M8thcxlist Centre MCC Edge Lane with Clayton MCC Long Svsafeguarding Ex orric Paula Jo Adrtan Sam from 1109125 Manley Parft MCC Edg8 Lan8 & Clay)Th MCC Circuit Sieward United Didsbury MCC Circuit Steward Dr$den MCC Circuit S18ward Ch$ Dawis Da¥Ms Daphne Angela AndW Chrfs Helen Fiona Rob Teren Christine Andrew Nlcholas Janel Catharlne Robert Jenny John Russell Eva Margaret Nlck Dawsc Dooe Edwards Evans FiekJlThJ Futton Fullen Grant Grime to 28.11.2023 to 31.08.2024 Edge Lane with cla MCC Withington MCC Levenshulmè MCC Crumpsall MCC Whalloy Rang• MCC Long St MCC Uni18d Didsbury MCC Levenshulme MCC ex officio Hallett Hignett Hughes Johnson Jones Kinsey Kirby Man m(riS Edge Lane wth C0 MCC ex officio Levenshulrne MCC Manley Park MCC c(pted 85 Dislricl MWIB prnsident Manley ParlK MCC Withington MCCILP $etary Hope MCC Whalley Range MCC United Didsbury MCC rrom 1.09.2023 Abigail $Via David Parr Pennycojke Po
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 CHAiIITr INFORiAAT1014 FOR THE YEAR ENDED ALIGLisf 312tr24 TRUSTEES Icontlnuedl Nzme Angela Sharon Audrey John Jul Appointed by Circuit Steward Ex orricio Ralph Read Redshaw Roberts Rowbotham Rowe Chorfton MCC Circuit St8ward to 01.04.2024 Idiedl Hope MCC Chortlon MCC Ir(ffi 01.09.2023 Sue Row Ex officio Joy lan Ru( Ex Officio 10 31.08.2024 Rutherford Ex Offi0 Barbara Pamela John Schofield Sewart Whalley Range MCC Long St MCC Withington MCC Long St MCC Moston MCC Andrew Im Hilary Peter Heather Srnall Srnfth Stewar Finance Group Withington MCC Ex Officio Circuit StewardlDroyslden MCC St.P81e¢s Church Ken Uz Stokes stuart to 31.08.2025 Alison Elva Bernard Jenny Carollne Thomlinsc from 01.09.2023 Edge Lane with MCC Circuit Steward Treves Brown Went Wickens Wilhington MCC Ex Officio to 31.08.25 Beverley stephen Janet Willianys Whallay Rangè MCC DroW$den MCC HO MCC Williams YaThycKd MCC- Mtthodlst Church Councll
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 CHAiIITr INFORiAAT1014 FOR THE YEAR ENDED ALIGLisf 312tr24 CIRCUIT COUNCIL and Circuit Stewards Name Revd Dr C Wickens Revd Dr J Cox-Dading Daphne Dawson Christine Davis Bernard Treves Brown Yvonne Anderson Boyd Sandra Bailey Sam Dada Andrew Edwards Eva Manley John Roberts Revd Sharon Read Paula Collins Catharine Hughes Revd Joy Rulton Appointmentlce5sation To 31108125 Frotn 119125 Position Superintendent Minister superin¢e[enl Minister Chair and Senior Circuit Steward Secretary TaSUr To 31108124 From 1109123 To 31108124 From 1109124 Died 1104124 To 3110812S Superintend8ncy T8am Staff Represenlalive Stsff Represenlalive Staff Represenlalive From 1109123 To 31108124 CIRCUIT OFFICE The Weskny Centre Royte Rtsad Hulme Manchester M15 SBP MANAGEMENT ACCOUNTANTS Peter Srnith Count8Y Servi Charter8d Accountants 9 Polwan Road ChortiorKurn-Hardy Manchtstèr M219NR AUDITORS Svmw AJ¢0 Llmtted Gosforth Park Avenue Newcastle upan Tyn8 NS12 8EG SOLicifoRS Anthony Collins Solicitors 134 Edmund Street Birmingham B3 2ES BANKERS The Cw*rativt Bank PO Box 250 Delf frk)use Soulhway Skelmersdak WN8 6WT Unity Trusl Bank Pl¢ PO Box 7193 anetsry Road Willenhall WV19DG INVESTMENT MANAGERS Central Finance Board ofthe Meth(xJtsi Chur 9 Bonhill Street London EA 4PE REGISTERED CHARITY 1135067
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TiIUSTE&8' ANNUIii REPCIRT FOR THE YEAR ENDEO AL•Gusf 312tr24 The Trustees present their Annual Report tLKJetherwith the ffinanual staternents fortt sEar ended 31 August 2024. REPORTING FRAMEWORK The financial statements ¢omply with Ihe Charilies Act 2011. arKJ A¢¢ounbng and Rewrting by Charities". Statement of Recommended Practice applicable to ¢haiits weparing their accounts in [¢jan¢e with the Financial Reporting Standard applicable in the UK and RepublSc of Irdand IFRS1021 leffethve l January 20191. ferred lo as the Charfties SORP IFRS 1021 Ise¢ond edition- Odober 20191. OBJECTIVES AND ACTIVITIES charttsble ObltIveS The Circuit 5h8r8s the same charTiabl8 obj8CtN8S 85 th8 r8St of the M8thcMlist Church, whh ar8 S8t out as foll(Ms.' Yhe purposes of th8 Methodist Churth 8r8 and sh811 b8 d88rned to hav8 been SIre th8 data of Unicm th8 8thanc8ment of - lal the Christian falth in accorijance wth Ihe doLlrin81 Standa15 8TrJ the discipl Ihe Methodist Church,. Ibl any charitable purp058 lor the twne 19 of any Connexional, Strt. C11. Ixal or other uganisation of the Methodist Church., Icl any charitable purpos8 for th• tim• boing ol any sociaty institul¥)n subsidrdry ancillary to the Methodist Church,. Idl any purposo lor tha ts'm8 bèing ol any charity baiThJ a chaiity subsidiaryor arrillary to thè Methodist Church.. Alm• The Circuit seek8 lo Ilve out the Calling of Ihe Melh)dis1 Church, which is 3urnm8rised thus.. "The calling of the Methodis¢ Church * to respond to the Gospel of GcJ's love in Christ and to live out its discipleshlp and mlsslon. Inspired by Our Calling. wè aim.. 10 incr8s 8Wgr¥nèss ol Godspr•s•ne8 and to cètsbrai• Gods lov• lo hglp ppIe lo grow ond le8m 8$ Chrisli8n$ Ihr¢wgh mulual support and Carg 10 bè a go(xl nèwhbourlo peoplg in no*d to injustice lo make MO followe olJesus Chrisl" A¢tlvltbe$ and Publlc Ben•fft The Circuit encourages and suprKJrts Ihe Chur¢hes within it in the provision of regular public acts of worship open lo rnemb8rs of the Church aniy non-members alike,. the prrjvB1 of Sa¢ space for prayer and conlemplalion,. the tea¢hing of Chri$li8nity through sernons. CoUeS and 5rnall groups., pasloral work, including visiting the sKk and bereaved.. the promotion of Christianity through the 51aging ol event5 and Ser¥es. the provision ol youlh clubs. senior citizen5' clubs. rn8n'5 meetings and women's rneeling5 elc. with a Christian ethos., promoting the whole mission of the Church land aiding Social cohesion) through activities for older people, parents and toddlers and other spg¢ifi¢ needs groups,. and supporting other charitl8s in the UK and over58as financially and with prayor. Following the $te$s1U1 mergèr of Edgè Lane Methodist Church and Clawon Methodist Chureh to fomi Edge Lanè & Clayton Methodist Church in Crlober 2022, DKJsbury Melhodist Church and East Didsbury MethoLlisl Church Tnerged in Septetnber 2023 to form United Didsbury Methodist Church. In both Cases the entire mwnbership of all churches was retsined. The Diésbury prnISes a to be sold. whlle the managlng trustees Contin to explore orthns forthe srte at ClaOn. The aims, objedives anij adwrfties of the Charity a vieWed annually. and achievements asse$5ed. Whèn reviewing the aims and objectives of the chanty and In planning lutu athVes. the Tru$lees have ctymplied with Ihe duty in Section 17 of the Charities Act 2011 to have due regard to publ efft guida putIL8h by the Charity C(mIsSIon. Contrlbullon of Volunteer8 The Circuit is heavily depend8nt up. and 8Xtremety grat8ful lor, ihe rA)ntributK)n of volunteer8 a8 It 588ks to carry out its objectives. With the exc8Ption of ordaineij members and the lay siaff repr8sentativ8, all th8 Other mernr5 of th8 Circuit Council are unpaid volunteers, and the vasl rnajotty of the Chaiity trustee5 are also voluntee.
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TiIUSTE&8' ANNUIii REPCIRT FOR THE YEAR ENDEOALIGusf 312tr24 ACHIEVEMENT AND PERFORMANCE Manchester CircuiL The MethcJist Church: Achievements and Perforrnance. 2023 - 2024 The work of the Manchester Qrcuit 15 shaped by the Calling and Prioriiies of the Methodist Church, and therefore it is appropriate lo use these Pnorities lo shape this review of our aCtItieS overthe Connexional Far 2023- 2024. Our Calling and Priorities a set out as lo4lows". "The Calling of the Methodist Church is to respond to the G(6pd of <kMJ's bve in Christ and ¢0 live out its dCipleship and mission. InSpid by Our Calling. we aim.. to in¢reas8 awarene of God's pre$8n¢8 and to ¢el8brnle Gods love." wotship to help p80ple to grow 8nd188m 8s Christi&ns thr(wh mutualsupport 8ndc8r8.' 188ming 8nd c8rirJ to be 8 good neighbour topeople in need andto cha118ng8 tnjustKe.' s8rvice to make mor8 lollow8rs of J8sus Christ.. 8v8ng81i8m All churches continue to offer a regular and varied range of public w0h1P fxe-to4ace. Acr05S the circuil. there are numerou5 church-ba5ed groups for chikjren, wung people and. and many churches a finding that their facilities are increasingly in dem8nd for use by a wide range of cornmunity groups. CMJr WL¥Ship and CL¥nrnon life continue5 to draw on leaming from the pandemic. Churche5 Still offer on line worship via various platforrns and paper copies ol s8rvKes are distributed to the hous8bound and those UnSe to access the technc4ogy. Many committee meetSngs also take ple orlinè. wlth cortsequenl vIronMental benèfits. Worshlp Numbers attending lac4laC• Sunday wotship across Iha ureuit havè eontinu8d to bè stat)10 with many churchos wakoming nèw people to join worship. We ¢onlinu8d lo devel opp)rtunities for worship al mi04¥8ek services. The we8Wy circuit Sunday evening service continues to nourish via a video cOnfenCIng platlomi wrth atM)u¢ 40 parts"cJpants each week. Art the start ol the year, the circurt held a service lo wel¢(me Deacon Jenny Jones to mL$ler at Central Hall. B. Lgornlng ond Carln9 We continue lo offer training lo various grcxtps. A SdY group for LcrAI Preachers in training is thriving, and aecredited local preachers benefited frorn a study event around in¢lu$ive worship. kn in-house tearn offers training in the Foun¢Jation $8fegu8rding course both face-ttrfa¢e and online. We have also made use of Ihe Connexional training scheme around Equality, Oiversily and Inclusion, again delivered in-hou58. A study moming was offered lo p851oral visitors frcffi the churches on the topic of listening ski118, and it is intended lo make thK5 an annual event. Ministe. Lay Workers and P851oral secr8tarie5 from the churche5 have also given excellent support to th058 in n88d and we continue to te grateful for their WO and commilm8nt. Face-tO-f8ce 8Ctivit18S such as 8ible study groups, coffee rnornings, tr)ok clubs and rim dubs meet on a regular basis and are supplem8nted by 8clivilies on Zcom organisad by th bcal church$s and th$ eircuit. Childr8n and youn9 pwplè's work eombinas 1ac•-ttrl and (lIn• inw. makiThJ good us8 of th• areuit's varioLkS soc¢al mèdi8 plsfforrns. and 15 w•ll rttèwod -thanks lo Ihoso inve4v•d wi 0unny Ih8t peoe'S work in tha circuit 8nd local churches contSnues. The Circurt consullalion has led to new inrtialives induding the devekpmonl of a aKuil onvlfonmental and a stewardship campalgn. Further churches have gained ecothawards under the A Rocha schane. C. Serv1¢¢ The Circuit continues lo support lay workers 0$e appointments frtus sctial otrtreach and service. including a new appointment of a community worker lo one church. This Is aladY beanng fruit wrth plans to devek)p a carer and lod¢ler group. The Moston Baby Basket continues lo respond to the need5 01 ywng families with a growing team of volunte8rs from across the circuit. At the Methodist Central Hall. 'Retr1. ccntinue5 to prowde shoes and socks for the hOMe8s, and is increasingly well- used, alongside the drwn centre'Belrienders'. The Wesley Centre. now directly rnanaged by the rCUit. handknj day-t(Hlay by a warden and a management cL¥lltniltee. The Centre 15 fully occupi8d by a range of tenanis, 50rne MerCH1. sL¥ne thir1J-SlOr. Following constituency boundary change5 locally, long-5tsnding Laur Party lenanis have had to m¢)v& on. Thr units have b8en upgrad8d arvj ar8 now18t again to 5Urtable Ihird-sector lenanls. Trinity Melh(K1ist Church ArKoats i% now managed by Ihe citcurt fclkwng the congregatiM's decisK)n to cease to meèt. The building Is still under renovation. but one a) is aladY use?e and is being used to suprK*t the community in this deprived aa, with input from the staff team at Melhocjist Central Hall. The circult's polry is lo fund staffin9 for out8¢h WO from its iro)rne frcm the sale of propety. sale of property in Didsbury known a8 The Rossett txy)stèd the funds availabk for this and we intend to make further appointments of lay $tsff in the comin9 y8ar.
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317
TiIUSTE&8' ANNUIii REPCIRT
FOR THE YEAR ENDEOALIGusf 312tr24
D Evangelism
Local churches engage in vari(¥Js evatvJelIst actwities. As far a5 the rCuit i8 corKemed, our principal k)cus for evangeli5ni is
online. Our online worship, website and the use of Facebook and Twtter are supported by the urcuit'5 c(xntnunity engagement
officer, who has added an Instagram account in t1 last year. These pla0$ have aitracted a number of people forwhom church
is not a familiar environmenl and we have been ab to engage vith them through these new ways of worshipping. A particular
highlight was our Lent outreach. Egg
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TiIUSTE&8' ANNUIii REPCIRT FOR THE YEAR ENDEOALIGusf 312tr24 Unrestricted Funds In order to meet its ongoing finan81 obligations- i1Jing the payvnent of stipends and of District and Connexion81 a5sesstnents quarterly in advance and to ffleet unforeseen circJm5tsnces. the Circuit need5 to maintsin SuffIent free reseNe5. These reserves would enale the Circutt to rnaintain its rni55K)n and rninistry in the short le rf, for whatever reason, third party grant5 We to be wfthdrawn or Sndlvidual Churches encwnter diffi¢ulb"es in payng their assessments. Free reserves are defined as unrestricted reserves less Ihe investrnent in t8)ib fixed assèts. loans lo k)¢al churches. deslgnated funds. and grant Commitments. On the recomMeNJa.0n of &"r¢uit C(wThtyl. the Circurt Meeting has detemined that fe reserves should be equivalent to bets¥een 3 and 6 months d nomial operats.ng costs,. this would equate to beh¥een £135,(K)O and £270,000. As al 31 August 2024. the level of free erVeS Stood at c£4.659k. Ihere vs a commitment to use c£125k to balance 24125 budget. The Is the wtenlial to need a further £125k over the follong two years. assuming that assessments levels are able to incr8ase. In addition, £1.7m has b88n d8signaled after th8 y88r end for University ChapLgincy. Takn'n9 all these f8Ctor8 into account would leav8 free reseNes at c£2,584k. The Circuit Is curr8nlly expkjring optKJns for the us8 of th8 form8r church site 8t Clayton which r8m8ins unsold. The Circuit 15 looking al how the prLKeed5 of sale from current as5el inveslrnents lof whh c£1.7m will not be realised until 2026 or later) can be best be invested in building the Kingdom and thereby respond to the pressure to firKI r8sources 10 5UPPOrt new initiatives for church planting and supwrt areas Lrf rni5sion. The reserves policy wlll remain under reviv. Golng Con¢•m The Trustees havè rèviowod the circumslartas ol the Circurt and consHYer th a¢Jequate rèsources continuo lo bè available to fund its activities lor th8 loseeable flrture. The Trustees are therefore of th& view that the charity is a going concem. CURRENT NEEDS AND FUTURE PLANS The Cir¢uit continues to develop its forward planniry and to 8ssess its fvIU fundin9 rwds. Within the Context of the ¢alling of the Methodist Churth la¥ 8et OLrt above) thg QrrJJit Io.. support and aneour8 èach loeal eongre9ation in misshM and ministy. provid8 appropriate 5UPPOrt lo Iccal church8s in sltary amas sueh as sa18guardin9, EDI and GDPR throu9h the appointment ol qualrfieé officers. mainly volunteers buikl on the proc8ss ol the Circuit review and its cwJtrth)8s. Th8 Circuit ts moviwJ lOMa on the basis of a sirat8gy developed In response to the visK)n and recL¥nmeThJations emerging from that prctess. strengthen the training cutture within the CircuiL erKouraging lay 8¢her$ and worship leaders in their devdoprnent, supporting probationers and facilrtating the develotmenl of StYent Ministers and presbyters in training., review and actiV81y manage the Circuit's inveslrn¢nt$ in finorK¥al and yopgrty r¢sour¢g¥, seeking to $?1gclivdy rglgase resourc85 for rni8sion, ministry and oulreach., work through the M8thodist Church stationing wrtsdur8s io Sewre Ihg apwntrn8nl of r*w mini%18rial staff as required. At th8 end of thi5 Connexion81 ar two presbyleral app(Nntrnent5 corne lo an end. with th8 proposad appointFn8nt of 8 probationer minister for three of Ihe churche5 and a lay pastor for the other apwinknenL work ecum8nically, esp8cialty in supporting 8ThJ dev81oping 8Stabli5hed aThl new Llal EcurnenKal Partnership5 and with particular focLts On the Anglican-melhthjist Covenant. Explorè options forthè use of the fom7 church srte at CLayton. Following on frcxm the r( ¢dlapse and fl(#x1ing in January 2021 at Trinty Church Ancoats. woth is ongoing to enable the refurbished building lo be used for new mission in this rapkyly expanding of Man¢hester. We WOU hope to have a joint mission proie¢t alongside other churches in the aw and the kKal ¢(Mmmunrty. After the y8ar end the Circuit disposed of a manse and F4Jrchased ather cTh.
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TiIUSTE&8' ANNUIii REPCIRT FOR THE YEAR ENDEO ALIGLK8T 312tr24 STRUCTURE GOVERNANCE AND MANAGEMENT The Manchester Circuit part of the meth(MIt Church of Great Biitain and registered as 8 charity wrth number 1135067. Connected charities The Churche5 forrning the Qr¢uit are thse&S charilies and. as they are reskY)nsible f¢K th&r rn finarrial affaits. they a not reported in these statements. The Circuit is also assoualed bwth Nexus CCS. a separately registered chanty. Apptsintment of Trustee$ All ministe. presbyterial and diawnal. staiKJned in Ihe Circuit by the cferer or who a residiro for the purposes of the Stations of thè Methodist Church In the Cir¢urt and who a in the ¥tive work (that is not rètired), are ex-offrio member8 of thè Circuit bAeeling Ilhe Trustee Bodyl. Other ministers who re$Kle in the Circurt in a(wdance with the standing orders of the Church lincluding those who are reli) may ¢h(x)$e to be members of the Circuit meeting. and rfthey have done $0 they are shown in the list of truste85 as eX-Off0. The following are ex Offic members of the Circurt Meeting.. Clrcuit Stewards appointed by the Circuit Meeting Circuit Meeting Secretary appointed by the Circuit Meeting Representatives to Oislrict Synod appointed by the Circuit Meeling Local Preachers S£cr818ry appointed by Ihe LLKal Preachws. Meeting Eac* Church is pr•SntS by a Church Steward. th• Church Tr•asur8r and r•prntallY appthntod by tho Chureh Council In relatSon to thè number ol Chureh membets lone reKY•sontalNe lor every 50 mernbetsl. The Circuit Meeting has the power to Codopt other members and has cMpl8d those membets of the Council who are not othemise members of the Circuit Meeling. som8 ol the lay workers in Ihe Circuit and a presenta"ve of the Finance Group. As al 31 August 2024 lexdu(Jing Ihase W)Se leftn of offKe eThJed C Ihat dayl Ihere were 60 m8mbers ol the Circuit Meeting 12023.. 631. Tru$¢eo ¢ruItment, Indu¢tlon and ¢rolnSn9 A5 Outlined above, the appoinlrnenl of the rnajorily of th& rnernbe of the Circuit Meeting outside the o)ntrol of th8 Meeting. In appointing the Council and other offKers. Ihe Meeting has regard to th8 balance of skills and gifts that are needed lo further th8 work of th8 Church. New m8mbers of lh8 CnCil are inducted by th8 C(yJncil wth the support ol the Superinlendency team. Organl8atlon The Circuil Meeting meet5 four limes 8 ar. Thts Circuil cnl. apwnled by Ihe Circuit Meeting. is re5POn5ible for acting on baho11 of th8 Circuit Mtèling ai oth$r limès. Thè Council mèsis at 8$1 six timas par y88r. The Circuit Meeting retains rèsponsibility for setting Ihe rni5SK)n prioritie5 of ihe Circuit. the overall slralegy lo delNer those prioiities. the Invitat) of min151ers, the oversight ol Ictal churches. the admission ol people lo the Off of Local PCkner. and de¢ish)n$ on formal eXoratIonS ol Calls lo minlslry and candidates for the ordaSned mlnistry. The C¢xJncil 1$ 8s$i8¢ed in the tssk of financial ¢)versigh¢ by the Circuil Fin8n¢e Group. The Methc1St Church appoints a mInle[ to be the SuperinleThJenl Mini$ler of the Circuil, whose duties a Sel out in the Stsnding Order5 of the Church. Th8 Circuit h85 e51at4ish8d a Superintendency Team to assist the Supenn18ndent Minister and lo provid8 leadership and cohesion wrthin the Circurt. Pay and R•mun•ration Stipends and allowance5 for presbyler5 and deacon5 Icollectwely tnlni5tej are set annually bythe Methodist Conference, and the Circuit is respDn51ble for meets'ng thosè cosis lor all ministers appDinied by the Conference to the Circuit. Fuller disclosure is ntained in Note 26 to the ac£wnts.
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TiIUSTE&8' ANNUIii REPCIRT FOR THE YEAR ENDEOALIGU8T 312tr24 TRUSTEES. RESPONSIBILfflES IN RELATION TO THE FINANCIAL STATEMEPffS The Trustees are responsible for preparing the Trustees. Report and Ihe finan(xal 5taterneTrt5 in alOrdanCe with appliable law and United Kingdom Accounting Standards (United KlTrgd Generally Accewed Accounting Practice). The law appllcable to charities in England and Wales QuI the trustees tts finan¢o1 stateTnents for each financlal year which give a true and fair of the state of aifaws tsl the drty and of the incoming resourtes and appli¢ats"on of $Our of the Charity for that year. In preparing these finarKial statements. Ihe twstees are required lry. sele¢t suilable ac¢ounling pdKies and then apply them ¢or6i$tenty. observ8 th8 rn8thods and prinriples in th8 Chariti8s SORP; make judg8rnenls and 8Stirnates that ar8 r&aSonab and prudenL stat8 whether appIable accountiThJ standards have b88n fcAIow8d, subj8Ct to any material d8partur8s disc1058d and 8xplained in the financial st8tements,' and pr8par8 the financial statements on Ihe g(xng ccrfKern basis unless rt ts inappropriate to pr8sum8 that the charity will continue in operation. Thè Trustees are rèsponsible for keeping SUrreTht aceiyJnting retords Ihèt disebse with reasonatt aeeurdey 8t any time the rinancial position ol thè charity and enable Ihem to ensure that the financial slalements comply with the Charities Act 2011. the Charity IA¢counts and Raportsl Regulabons 2008 and thè pThi%n$ ol the trusi dee(l. They arè also rèsponsible for safeguarding the assets ol the charity and hence lor laknng reas(x)able Ste for the preventi and deteclL)n of fraud ané othèr irregularities. ON BEHALF OF CIRCUIT MEETING 5eACB71tQ2FE4F8 REV CATHARINE HUGHES- MINISTER 13 Augusl 2026
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TO THE lilEiiBERS OF CIRCUITMEÈTING OFTrE IEfHODMCHURCH. MANCHESTER CIRCUIT FOR THE YEAR ENDEO 31 AUGU8T2024 Oplnlon We have audited the financial statements of The Methodist Church MatKhester Circu(t (the 'chaWI for the year ended 31 August 2024 whh comprise the statement of financial actNities. balan sheet. the slalemenl of cash flows and the notes to the financial statements, including a SUTnrnary of significant accounting pdIC5. The financial reporting framework that has been apled in their preparation is applicable law and United Kingdom Acc(MJllting Standard5, including Financial Reporting Standard 102 The Financial Reporting Standar(l aPpIable in the UK and Republ of IApland (United Kingdotn Generally ACpIed A¢counting Practi1. In our opinn, the financial statements." give a true and fair view of the slate of the charrtrfs afiairs as al 31 Au9u$I 2024 and of rt$ incoming resources and application of r8sourc8s. for th8 J8ar Ih8n end8d., have been properly prepared in accordatKe with United KirvJdL¥n Generally Accepted AcCntIng Practicè". and have been prepared in ac¢ordan¢e with the Chariw Ara 2011. Basls for oplnlon W6 conducled our audit in accordarte wilh Inlemaii(Mwl Stsn¢Jards Audit¥ IUKI IISAS IUKII and applicable law. Our r8sponsibili118s Under those standards are further described in Ihe Al1(01$ Trsw$ibiIitS for Ihe audit ol the fin8n¢i81 $18t8ments section of our report. We are independent of the charily In accordance with the ethical reqU1MentS that are relevant to our audit of the financial statements in the UK. Induding the FRC'S Eth1 Slandard. and we have fuffilbd our other eth81 responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide 8 basis f(Y our opinK)n. Concluslons rolatlng to going eoncom In 8uditing th8 financial statements. w8 havo 4uded that Ihe twstees. use of the 90in9 concem basis of aOunting in the praparation of the fina181 statem8nts is appropriate. Based on the work we hav8 perfonned. we have not idenlffied any material Uertainti8s r818ting to 8vent5 or conditions that, individually or coll8cIN81y. may cast signifKant doubl on the charills abilty to ¢ontinue a5 a gn9 concem for a p8ri0d of at 188St twelve months IrcKn when the financial slalaments are aulhorised lor issue. Our rèsponsibilitYdS 8nd th8 f•sponsits'liti•s of th• trusl8•s wilh tyspact to goiNJ eoneam ar8 dèstr1 in tha ralèvanl sactions of Ihls rewrt. Other Informatlon The other Informallon COMSe$ the Infomialk)n In the annual retth other than the financial statements and our audttorfs report Ihereon. The trustees are responsiNe for the other Inlormation contained wilhin the annual report. Our opinion on the rin8ncial statements does not cover the other Inforn)811n and we do not express any fomi of 8ssurance conclusion thereon. Our responslbilily is to read the other informatKJn and. in (loin9 $0. corlder whether the clher infornation is rnaterially in¢onsistgnl with the financial $t8ternents or our kThoedge oained in the cwrse of the audil. or otherwise appe8rs to be materially misstated. If we iiyenlfy $u¢h rnaterial inconsislencie5 or apparent malenal mBslalemenls. we are requi lo ¢Jelemiine whether this gives rise lo a rnalerial misslalem8nl in the financial Slatents Iherns8eS. 11. ba58d on the work we have perfomed. we conclud8 that there is a material rni5Sta18rn¢nt of IhB thr inlomalion. we are required lo r8POrt thal fact. We have nothing lo r8Wt In thls r8g8rd. Matters on whlch w• are requlred to report by exceptlon We have nothing to report in respect of Ihe following mallers in relation to whKh the Chaiilies lknounts and Reports) Regulations 2008 require5 us lo report to YJU if, in our Opinn.. the infonnalion given in the finanoal stalernents ts iiconsistenl in any material res wrth the tru5lees' r8Wrt', or sufficient accounting records have nol been kepl.. or the finaKial statements are not in agreernent wilh the act(yJnting recffils". or we have not received all the infom)aln and exrAanats"ons we WU1 for our audrt. ReBponslbllltl8s of trustee8 A5 explained more fully in the staternent of tru51ee5' restW5ibilities. the tru5tee5 are re5PDn5ible forthe preparation of the financial 5tatement5 and for being satisfied that they give a true an¢J fair v. and for such inlemal control a5 the trustees determine is necessary to enable the preparation of financial 51aletnents Ihat are free frorn tnaterial rnisstaternent. whether due to fraud or error. In preparing the financial 5tatement5. the trustees are re5pon5ible for assessing the charity's ability to continue as a going concem, dlsdoslng. as applicable. matters related to going cortem and usin9 the gtyng cormxm basis of accounting unless the trustees either Intend to Cease operations. or have no realisb"c altemative bul to do so 10
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TO THE lilEiiBERS OF CIRCUITMEÈTING OFTrE IEfHODMCHURCH. MANCHESTER CIRCUIT FOR THE YEAR ENDEO 31 AUGUST2024 Audltor's responsibilities for the audit of the financial statements We have been appointed a5 auditor under se(Xion 144 of the Char[t5 Act 2011 and report in accordance with the Act and relevant regulatlOn5 made or having effect thereunder. Our objective5 are to obtain reasonatAe assuran about whether Ihe financial stalefflents as a whole are free fr(xn material tnisstaletnent. whether due to fraud or etTor. a[ to i$5ue an audrtorfs Tekx)rt that includes our opin). Reasonable assurance is a high level of assurance but Is noi a guarantee thai an audrt Conducted in ac¢otdarte with ISAS IUKI will afvrfays deted a material mi$5talement when it exi51S. Mi5Stalernent5 arise from fraud or effTQ¥ arKI are conSere maierial if. individually or in the aggregate. they could reasonabty be expected to influence the econom dectsions of users taken on the basLS of these financial stslemenls. IrregularlIeS. in¢ludlng fraud, a instances of Th)n-coMlance with and wUlatn$. We design prdu in line wtth our responsibilities. oirtlinod above. to dele¢1 material misstatements In Spect of irregulanties. including fraud. The extent lo which our procedur8s are capabl8 of d818Cting irreguLgriti8s, iluding fraud, is d8tailed bdow. C8P8blllty of the audlt In detecting Irregulariti88. including fraud Based on our understanding of the charitable cornpany and the sector in whth it 0rat88. we id8ntffi&l that th8 fdlowinG law5 and regulation5 are 5ignrficant lo the entrty. Those law5 and regulations considereij lo have a direct elfect cfi the fina81 5tatement5 induding UK fin8181 reporting standard5 and Charity Act 2011, Emplw8nt and Pensil legislation. . Those laws and ragulations lor which )n4cmpIOn¢ may ba 1uThJam•nI to tha 0rating aspacts of the eharity and thtsmfora may have a tnaterlal effecl on the financial slalernenis indvje ccvnpliance 1h chaiitsblts objectives. public benefit. fundr8lslng rogulaiions. safeguarding. data proioction and hoatth and safety1og1slaiic. These matters were dSscussed arnongst the engagement leam at the aTrnIng stage and Ihe t8am remalneLI alert throughout the audlt. Audit procedures undertaken in response lo the FA)tenlial risks rel8ting to iffe9ularities (which include fraud and non-¢ompliance with laws and regulalionsl cornpred ot. inquiri8s of rnanagemenl and the Truslees as to whether the entity complies with such laws and r8gulation$.' enquiries wlh the same con¢eming any actual or potential liligalion or ¢laim$,' inspection of relevant legal correspondence and legal costs iurred., review of Twslee rneelin9 minules,. testing the appropriateness of journal entries., and the p8rfomance of analytical review lo id8nlfy unexp8Ct8d mov8m8nls in aCcnI baLqrK8s which may be indicative of fraud. No Instances of rnated81 non<ornplian¢& were id8nbfied. Howevor, th8 likgllwd cl detling irr8gularille5, includlng fraud. 15 limited by the inh8r8nl drfficully in detecliThJ iThegularilies. th8 effectiveness of the entrtls controls. and the nature. timing and extent tsl thè audit proc8durgs parfomi. IFregulantiaS Ihat rssull from fraud rnh1 ba inharèntly mora diffitsJlt to dètact than irragularitias Ihst resutt from orrtsr. A5 explained above. Ihèrè is an Un8vab1e risk that m810ri81 rnlsst8tamants may not bè daleclod, evan though thè audrt has ba8n plannèd and p$rfomet1 in accordancè wilh ISAS IUKI. A further descrip¢lon of our responslbllttles Is avallable on the Finaal Reportlng CouncS1's websrte al.. https'.Ilwww.fr¢.org.ukl audltorsresponsiblliues. ThSs descrtption fomis part ol our audrtofs rep)rt. U$• of our report This report is made solely lo the charitls Irustees. as a tA)dy. in a(wr(lance with Part 4 of the Charities (Accounts and Reports) RulationS 2008. Our audrt work has been undertaken so thal we mwjht slate lo the chanty's trustees those matters we are requir8d to st8te to Ihern in an auditor's reFQrt and for no clher purpose. To Ihe lullest 8xlent pennitted by18w, we do not 8ccepl or assume responsibility to anyone other than the charily and the charitys trustees as a ty)dy, for our audit work, for this report, or for the opinions we have f0rn8d. SMdtsy'. A40B 15ater IS•nior Statutory Auditor) for and on behav of Sumtr Audit¢0 Limited statutory Auditor Unit 2 New¢a$tle upon Tyne NE12 8EG Date.. 14 August 2026 Sumer Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for apwinlrnent as auditor of a company under section 1212 of the Compani8s Act 2(M)6. 11
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 STATEMEfriTOF FINANCIAL ACTIVITIES FOR THE YEAR ENDEO AUGLISTai 2tra4 Notes Unrestricted Restricted EThJowment Total Total Funds Funds Funds 2024 2023 INCOME Donations 2,723.992 2,724,092 498,902 Charitable activities 40.054 45,054 43. 190 Other trading income 80.3 80.903 88, 758 Investm8nt income 14.719 385 4,948 20.052 27,179 Other incorne 322, T77 TOTAL INCOME 2.859.668 5.485 4.948 2,870,101 980. T46 EXPENDITURE Costs of 98neraling funds 50,303 313 $0,636 50,508 Expenditure on ch8ritsble activities 543,768 544.018 508,542 TOTAL EXPENDITURE 594.071 270 313 594.654 559.050 Nèt g8insllb$st81 on inveslmtnts 10 4,440 1,672,906 NET INCOMEIIEXPENDITUREI BEFORE TRANSFERS 2.265.597 5.21S 9,075 2,279,887 2.094,602 Transfers between funds 18 3.689 1601 13.6291 NET MOVEMENT IN FUNDS 18 2,269,286 5,155 5,446 2.279.887 2,094,602 FUNDS BROUGHT FORWARD 18 5.055,947 11,693 110,597 5.178,237 3,083,635 FUNDS CARRIED FORWARD 18 7,325,233 16,848 116,043 7.458.124 5, 178,237 The nolos on pages 15 to 27 fom) part of Ihese financial statements. 12
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 TiIUSTE&8' ANNUIii REPCIRT FOR THE YEAR ENDEOALIGU8T 312tr24 2024 2024 2023 2023 FIXED ASSETS Tangible fixed as5et5 Inve5trnents 13 2,580,331 221,951 2,802,282 2, 126,453 69T.283 14 2.823.716 CURRENT ASSETS Debtors Investments Cash at aank and in Hand 15 16 255.636 4.323.35S 134.703 4.713,694 265,896 1,875.000 256,539 2,397.435 CREDITORS Amount5 lalling due In one aT 17 57,852 42.914 NET CURRENT ASSETS 4,655,842 2.354,521 NET ASSETS 7,458,124 5. 178,237 FUNDS Unre51ricled 18 7.325,233 16,848 116,043 7,458,124 5,055,947 11,693 110,597 5, 778,237 Re8lricled 18 18 Endowrnènt TOTAL FUNOS Thè notès on pag8$ 15 10 27 lomi part of Iè aettnIs. Approvod by the trusloes and aulhorts8d lor issuo of And signed on their b•haM by.. REV CAYHARfNt'HUGHES- MINISTER 13 August 2026 13
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 STATEMEfriTOF CIISH Fi¢iW8 FOR THE YEAR ENDEO AUGLIST312tr24 2024 2023 Notes Cash usad in operating aciivitios 23 1146.3811 150,256 Cashflow5 from investing activiknes Investment income 20,052 27,IT9 497. 176 (306.511} 100,846 (571,2261 (192,5341 Proceeds of sale of fixed assets Purchase of tangitAe fixed assets Withdrawals from investments Purchase of inveslrnents. Ggsh & gains reinvested Cash provided byllus•d in) invosting activities 1475.2591 $15.440 135.6881 24.545 Cashflow5 from financing activitios Repayment of borrowing Cash used In Ilnanclng actlvlllo* 18381 18381 In¢r•a•olld•¢r•a$•l In ¢a8h & cash •qura In th• y•ar 1121,8361 (43. 1161 Cash and ¢a•h •qulvahnts brought fornfard 256,539 299,656 Cash and ¢a8h •qulval•nts ¢arrl•d forn•rd 134,703 256.539 C88h and caih equlvalents conilit of.. C8sh 8t b8nk and in hand 134,703 256,539 134,703 256,539 14
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 1 ACCOUNTING POUCIES The foll(ywing accounting le$ have been apPld consistenuy in deali with iterns which are considered rnaterial in rdation to the Manchester Circuit'5 financial statefflents. Scope olthe financlal $tatÈments The finala1 statements relate to the wort of the &"rcuit. in all asrts. Basb of preparotlon The finan¢ial statements have been prepa.. un¢Jer the historK Cost ¢onvenlK)n, as modified by the revaluatbn of investments las set out below) through the staternent of financkgl aclivilies.. in acCOrdar with th8 Statem8nt of Recomm8nd8d Pract6 Accounting and R8POrting by Charit18s preparing their accoLbnts in accorda wrth th8 Financial Reporting Standard applic8b18 in the UK and Republic of Ireland IFRS1021 eff8Ctive January 1 2019 Isecond 8On - October 20191., and FRS102. The r88ulls of the wholly owned subsidiary have b88n conSolatl on 8 lin8 by lin& basis. The accounts (financial slalemenlsl have been prepared Io give a Irue armj lair. view and have dep8rted from the Charitie5 (Accounts and Reports) Regulations 2008 only to the exlent required to provide a Xrue and fair view.. This departure ha5 involved following Accounting and Reporting by Chaiities preparing their accounts in aCcOrdae with the Financial Reporting Standard applicable in the UK and Republic of Irdand IFRS 10216std on 16 Juty 2014 raiher than the Accouniing and Reporting by Charlllès.. Statement ol Recommen¢Jed Practke eifttuve fr(m l April 2005 bvhkh has slnce been wAtMrawn. The ch8rty consututes 8 publlc inelll entity as defined by FRS102. The accounts are prepared in £ slerfing. th6 fu181 cuThency of the charity. Donated good8 Individual donated goods CA a consurnabl8 Thalur8 valued under £5( such as harvest lestNal produce are not 6h¢)wn in these rin8n¢ial slalements. Those over th amount or of 8 ¢apitsl nature are recorded. In¢ome Tot81 Incoming RèstyJrc•s as shtrwn in Ihè Stat8ftnt ol Finanaal fv£iNili•s r8[ntS tha not amc4Jnts from all soure8S. Incoma is racognised in th8 8ccountlll9 PariLyJ in thIe rt is recèivab. èxespt in tho lolltrwino circumstancas. whan th& incoma is deferred and Includod In cr•ditOts'. The Incone relaies to a future accounting perKMJ A sales invoice has been raised ahead of the wcKk b•"ThJ Carrled oul and the charity is not contractually enlltled to the income unlll the work has been done Not 811 the terms and condilK)ns d the grant have been m8L induLlin9 the incurring of expenditure and the grant conditKJn$ are such Ihat unspent grant must be fvnded Invo$tm¢nt Incomo Investm8nl incom8 is inrJud8d in the 8cwJnts vknen receivae, and any gains or losses on revaluat at th8 year 8nd are shown in the Slat&ment ol Financial N£lwilies. Grants and donatlon5 Grant5 and donations are induded in lull in the Statement of Finanual AL*vitse5 Other than where grant5 are deferred to match the income to expenditu overthe lrfe ofthe KW. Grants to local Chur¢$ Grants to local ¢hur¢hes for property Schemes and other purposes a arxounted for as liabilities when they receNe formal approval by the Circurt Meeting, or the Superintendency team or Council under delegated authority for awards of less than £6,000. On some occasions the Circuit Meeting will be &%ked to indicate whether it would approve a prortY develownent or building of 8 new church when the proj1 is s.11 at a development stage and (ther pathers are still beiry consulted. The Circuit Meeting usually indicat8S that il would support the investm8nl of the p(lS of sale of any related prop8rtKgS 8nd how much il would b8 pr8par8d to give in addition. Such arnounts are not )nsidered to binding obligations on the Circuit until such tim8 as a fornial scherne is brought forward and approved by the Circuit Meeting. 15
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 1 ACCOUNTING POUCIES Icontinuodl Other grants payable Grants awarded to other charitable a accnted for as liakn"lrties in the in which the award is made. MUltperic grants are accounted for in full in the year awarded Whe the is a binding commitinent to make the future payments. Charltsble funds Unrestri¢ted funds a available for use at the di$¢ret ol the truslees furtherance of their Charilab objectnies. Restrieled funds are subject lo specffic conditions by doncxs as to h(w th8y may b8 used. The purrJs8S 8nd uses of the restricted funds 8re set out in th8 notes lo the financial stat8m8nts. Expondlluro and Irrecoverable VAT Expenditure is recogni5ed once there is a legal or con5truclNe LligalK)n to fflake a Panent to a third party, it is probable th81 the selllemenl will be reguld and the amount ol the oblwJalw)n can be measured liablY. Expendrture is dassified under the Idlowing activfty headSngs'. Costs of r81sing lunds Including those a5StKiated with fundrafj$lrvJ act1vil$. man8glng Investments 8nd eommercl81 trading by the subsKliary Company. Charllabb acllvlues sts of underlakn.ng the work of the chailty. The charty 1$ not registered for VAT and nn0t recover any inwt tax tharggd. Costs 8re $t8ted inclusive of VAT where ¢h8rged. Allo¢allon ol •upport ¢o•ts Support cost5 are those functions whKh a5sBI Ihe work of thg charity either by supporling the delivery of charitable activities or by supporting the generatn of funds. They include back off8 fUtIOnS, Staff cos15 and profes8n81 f888. The ba518 of 811ocations is set oul in nolo 9. Flx•d 458•ts and depr8cSatlon Flxed assets are shown al cost to the Cir11. wrth the exception of the manses and other propety assets. These have been included at the Trustees, valualk)n less any levy payable lo the cneX10nal Advance and Priority Fund I"CAPF'I where there Is no replacement scheme lor the assets. as pemirtted under the SORP. when assets not prevu$lY in the balance sheet are capltalised. Assets costing less than £1.000 are wntten off as revenue expenditure in the ar of acquisition. Oeprecialion is provided to write off the cost or valuation less the estimated residual value of tsngible fixed assets by equal inslalmenls over their estimated useful econcmic INe$ as follows.. Freehold buildings Leas8hold propgrties Furniture and fittings Computer equipment 1% per annum Irrxn laier of th8 date of xqui51tion or 1109114 1% per annum frcrn later of th8 date cl wui51tion or 1109114 25% per annum on cost 33% per 8nThJrn on cost Freehdd land is not depreciated. Fixed asset dpl1 proceed5 are rew)rtwJ net of afiy levy payatAe to the CAPF. At each porting end dale. the chanty ViewS the carryng amounts of rts tangible assets lo determine whether there is any indication that those assets have suffe an impaimient If any such indKation exists. the recoverable amount of the asset is estimated in orderto ¢Jetemiine the extent ol the impaim)ent lrfanyl. Taxatlon The Charlty is exempt from lax on irKcffne and gair6 falling Wrthin 505 of the Taxes Ac* 1988 or sectiw 252 of the Taxation of Ch8rgeabl8 Gains Act 1992 to the exient th8S8 are applied io its charitable 0tr4eds. 16
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 1 ACCOUNTING POUCIES Icontinuedl Investments, galns and losses FSxed asset Investments are a form (4 bas1¢ fina1?1 Irtstrwnenl and are Inftialty re¢(ded at thelr transa¢tlon value and subsequently measured al their fair value as al the balance sheet dale using the dosing quoted market price. The SOFA include$ the n8t gains and losse8 arising on r8valuation and on disposals thrghOul the year. Gains and losses on investrnents are taken to the Statement of Financial Actniities as they arise. Realised gains and losses are calculated as th8 drfference b&lween sale pr(xeeils In8t of transaction costs) and the opening carrying value or cost, rf acquired during the y88r. Unrealis8d gains and k)sses are calculated on th8 drff8r8nce b8h¥88n op8ning and ck)sing fair v81ues. Certain investm8nt8 ar8 h8ld and incrJrated in Ihe Balance Sh88t that ar8 restricxed to SP8crfic prr4ects. Th858 are disclos8d in note 14. Curr•nl aSS•I Invt$tsn•nts Current asset investrrents. including propettss hdd for sale. are valued at their expeded nèt Sa value. arter taking account of selllng costs and levies charged by the MellxI1$t Church G8. The Charity relies on the k¥ofessbnal valualions as requlred by the Charitiès Act in dètem)ining sale valuès ol propertss. Ca8h ond ¢a•h oqulval•nts Cash and cash equiv818nls includ8 Cash in hand. d8P05it5 h81d at call %wth banks. other short-tem liquid inve51ment5 With original maturities of three rnonlhs or less, and bank overdrafts. Bank overdrafts are shown wrthin borrowings in current liabilities. FSnanelal In8lrum•nts The charily has only basic finarKial inslrurnents %*thich ar8 inilialty r8cord8d at eost, and with the exception of inv88tm8nts las 581 out above) subsequently measured at their settl&menl value. P•n81on ¢ontrlbutlon• The Circuit partidpates in the folkwling per6#)n I. Methodist Ministers, Pen The Circuit is a mernber of the Connexional pension Scheme IMMPSI which covers presWer8 and d88cons of th8 Melhodi5t Church. The contribution rates are sel each year by Ihe Melhodisl Conlerence, and for the year under review the employer contributions were 26.gOk12020.. 26.9°knl of slbpend. The MMPS is a rnulli-empk)yer 5cherne, and in aeeordance wtih ihe guidance issued by the Charity Cornmi5sion. the Circuit accoun15 for those contributions as rf it wer8 8 defined conlritsjtiL schem8. It has don8 so bause il is un8ble lo identrfy it5 share of th8 undedying assets and liabilrti8s on a consistent aTrJ r88sonabK8 basis. Conlritrrtrtions ar8 charged to the SOFA in tha perd in which they are payabl8. The Cireuit tsperaies a defined conlribution pension lund fov ils lay employees and unless they have opted tsut. pays employer's onlribution of 6Qh rnatched by etnployee5' conlributvjns of YA. in accoKdance with the standing Orde of Ihe Methodist Church. Judgements and k¢y sour¢•$ of •stlmatOon un¢¢rtainty The preparation of the financial slalemenls requires management lo Ma judgernenls, estirnates and assurnptions that affect th8 arnounts reported. These estimates and jUdgernts are conlinualty re¥Wed and are based on experience and other factors, including expectations of future events that are beled lo be reasonable under the circuwtstances. 17
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 2024 2023 Re$trlct¢dl Unrestricted endtswment Re$trlctedl Unrestricted endtswment Total Total 2 DONATIONS Church a5sessrnent5 275,617 275,617 120 302,402 302,402 1,00 500 195,OOQ 498,902 Donations 11KI Legacies Other funds transferred 5(K) 2.448,355 2.723,992 2.448.355 2,724,092 195.000 497.902 100 3 INCOME FROM CHARITABLE ACTIVITIES Prop8rty Income.. Chatterton Hey Liverpod manse Grant NWED re Library ol Things other income 33,530 33,530 6,000 5,000 524 45,054 36,gTg 5,937 36,979 5,937 524 40.054 2T4 43. 190 274 43.190 4 OTHER TRADING INCOME Renial Income re surplus manses Rents receivable re Wesley cenlre Rent and room h1 Trinlty 16,4¢J) 51,278 13,225 BO.3 18.400 51.278 13.22$ 80.903 13,517 52, 791 22,450 88. T58 13,SIT 52,791 22.450 88,758 S INVESTMENT INCOME Income from fixed as58t invèstmants 7.1 5.333 12,523 7,529 20,052 13.342 11.070 24.412 2, 767 16,109 11,070 27.179 Bank inlafesl Totsl lor Clrcult 14.719 5.333 2, 767 6 OTHeR INCOME Insurance dalrn Proceeds of sale of manse 16.206 306.511 322. 717 16,206 306.511 322,71T 18
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 7 COSTS OF GENERATING FUNDS 2024 2023 Restrictedl Unrtstrl¢ted endowment Restrictsdl Unrestrlcted endowment Total Total Investment management Charges Agents & other fees re rentsl income Wesley Centre Staff costs r8 Wes18y Centr8 D8preci8tion property rented out Support costs Totsl lor Clrcult 1.987 2.110 29.164 5.928 2.930 8,517 50,636 476 2.002 35,312 5,868 354 830 2.002 35.312 5.868 2.110 29,164 5,928 8,517 SO,303 6.496 50, 154 6,496 50.508 333 354 8 CHARITABLE EXPENDITURE 2024 2023 Unrs¢rl¢led Restrfjcted Totsl Unrestrlcted R•strlcted Total Stipends. salaries & ponsn$ Expenses and training costs Grants to Circuil Churches Manse costs Trinity prortY costs Other direct cosls District & Connexional a8sessrnents District Advance Fund levy Benevolent fund payments Depreclalion charllabl8 propgrti¢¥ Support costs Charged to rg8tridod fund¥ 194.024 5.047 10,639 60.289 38,039 21,436 75,432 34,451 194.024 5.047 10.639 60.289 38.039 21.436 75.432 34.451 250 18.451 85.960 240.290 7.854 21,427 32.653 33,941 3,429 79,005 5,846 240,290 7,854 21.421 32,653 33,941 3.429 79,005 5.846 250 17.296 66.557 250 250 18,451 85,960 17.296 66.557 543,768 250 544.018 508.292 250 508.542 9 SUPPORT ANO GOVERNANCE COSTS Fundr#151 2024 Charllab 2023 Charllablo Total Fundra151 Total Support ¢oits Staft costs Office costs Professlonal costs 2.713 24.417 20.785 31.458 76.660 27,130 23,1)94 34.953 85,177 I, TT4 2,IT6 2.546 6.496 15.967 19.585 22.915 58.467 IT,741 21,761 25,461 64,963 3,495 8,517 Govman¢* ¢osls Extemal s¢rudny 9.300 9.300 94,477 8.090 66,557 8.09Q T3,053 8.517 6,496 Staff costs are allocat8d on the basis of estimate of time St aTh4 other costs the estirnate of resources used. 19
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 Unre$tri¢ted RÈstri¢ted End¢)wment Funds funds 10 GAINS AND LOSSES ON INVESTMENTS 2024 Unrealised gainslllossesl on revaluath)n of fixed asset investments 4.440 4.440 Unre$trlded Restrl¢ted Endowment fund5 Funds fund5 2023 Unrealised gainslllos5e51 on revaluatK)n of fixed asset inve5ttnents Unrealised gain on assets held lor sale (T.094) (7,0941 1,680,000 1.6T2,906 1.680.( 1.680,LkKJ 7,094 11 NET INCOMING RESOURCES AFTER TRANSFERS 2024 2023 Thls Is staled after chargin(CreditIJl'. Audit f88 9,300 (7,2101 77,296 Indopendant examin•ts' lèts ovèr aceruad prior yèar D8prtciation of fix8d assats Trustees, r6muneralion as InJsle8s Trust888' 8xpen5e5 85 IN51ee5 21,381 20
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi4ANCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGUST 312024 12 STAFF INFORMATION 2024 2023 a Staff costs Stipends and salari88 Apprenticeship levy Pension contributions- M8thodist Ministers Schem8 197.574 865 272,692 7,037 36,218 39.059 125.0001 MMPF reserve Pension contributions- other 466 Etnployer's Nl contributlOn5 14,584 227,082 73,486 263,899 No staff member was pald more than £60.000 p.a. In ellher year. b Key management personnel The key managerDenl of the chaity CL¥nprise lh8 trust88s. whKh ¥Klud8s ihe ordained rnembets of Staff who are ex-officio members of th8 Circuit m88ts.ng but do not rec•v8 any pasTr8nt spe¢rfllY for 8¢tin9 as trustges. The other truste8s do not rec81V8 arby rernuneralion lor their seryic8$. The total remuneration benefits of the key marwrnent are.. Stip•rids 177,429 224.524 As explained in note 27, certain other Circuit employees are also members of Ihe Cirwi¢ mg9ts.ry bul their remuneration is not included ats)vè as their mèmbetship ol Ihe Circuil Meeiing is not part of th6ir duties as omployoes. but rather they havo b88n appointed by the churche5 of which they are memb8rs as repr8senlative5. c Average $1off numr• The avera9e number of rnemt)¢ of Stafl of the ¢h8rily was as folbws.. 2024 2023 Average numbor Average number Ord8ined 5t8ff loifie• hokY8ts nol •mF4oy8811 Lay èmployeos 12.0 12.0 d Addltlonal p•nslon ¢ontrlbutlon In 2021122 the Circuit responded to an appeal by Ihe MelhcKYist COnfenCe lor all parts of the Connexion to make voluntary contribution5 lo the Melh£%Jist Mini5ter5' Pension Fund reserve. It rnade a coniribution of £25.000 in that year. The pension reserv8s is no longer required and the contribution wa5 retum8d in 23124. 21
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 13 TANGIBLE FIXED ASSETS Long Freehold land asehold Fixtures Fittings & Equipment & buildings properties Total C05t A5 at September 12023 Additv)ns 1.664.935 572.LK 475,259 1.047.259 19,012 2,255,947 475,259 2,731.206 As at August 312024 1.664.935 19.012 Depre¢laJon As at September 1 2023 Charg8 for the year As at August 31 2024 64.582 11,008 75,590 45. 10,373 56,273 19.012 129.494 21,381 150.875 19.012 Net book value As at Augus¢ 31 2024 1.589.345 2.$80.331 A5 at Augusl 312023 1.600.353 526, 100 2, 126,453 The n81 book value ol equipment held on finance thes was £nil12023- £5811. 14 FIXED ASSET INVESTMENTS 2024 2023 Market value brought forward Income re-invested Additions 8t cost 697.263 10.688 25.000 1515.4401 293,977 13,548 497,678 (100.8461 7,094 697,263 Di5P05813 at caryng value Nel gainlllossl on revaluation Market value carried f¢)rward 221.951 Inv•stm•nts •t falr v•lu• ¢omprls•." CF8 Managed funds Cash held thin Snvestment p10110 95,416 126,53S 221,951 90,9TS 606.288 697,263 Unrestrl¢t¢d fvnd$ 2024 2023 Reslrkl•d fvnd$ 2024 2023 Endowm•nt fund$ 2024 2023 Market value brought forward Income & gains r8-invest8d Additions at cost 579.540 9.317 25.000 169,919 12,789 497,678 7.126 365 6,924 202 110,597 1,006 117,134 557 Di5P05alslwithdrawals at carTring value Net gainlllossl on Valuation Market value carried lon¥ard {515,4401 (IW.846J 4,440 116,043 7.094 110,597 98.417 579.540 7,491 7, 126 CFB Managed funds Cash held within investment p(*trolio 95,41fj 20,627 116,043 90,975 19,622 170.597 98.417 98,417 579.540 5T9.540 7.491 7,491 7. 126 7. 126 22
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 2024 2023 15 DEBTORS Loan8 to Circuit Churches Amounts du8 from weSY Limited Prepayments & other debtors 29.708 1.832 224.096 255.636 37,206 11,083 277,605 265.896 16 CURRENT ASSET INVESTMEMrs Property and land hèld lor sale 4,323,355 4,323,355 1.815.OOQ 1,875,000 17 CREDITORS falling du¢ wlthln on¢ yoor Assessments in advance 17.390 16,251 7,060 7,360 308 Income and grants in advance Funds in trust Soci81 s8curily and other t8xes Finance lease creditor Cr•dilors & aceru81s 412 222 222 38,268 57.852 23, 713 42,914 23
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 18 STATEMENT OF FUNDS C* * E E ww 24
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 19 ANALYSIS OF COMPANY NET ASSETS 8ETWEEN FUNDS Fund balan¢e$ at August 31 2024 are represented by... Unrestricted General Designated Funds Restrlcted Endowment Funds Fund5 Funds Total Tangible fixed asset5 Fixed asset inve5tment5 2.580.331 46.863 4.607.593 7.234.787 2,580.331 221.951 4,655,842 7.458.124 51.554 38.892 1.446 7,491 9.357 16,848 116,043 Net current assets 116,043 Fund balances at August 31 2023 are reprtsented by:" Tangible fixed assets 2.1.453 Fixed asset investments 521.986 Net ¢urrenl assets 2.325.670 4.980. 109 2,126,453 69T.263 2.354,521 5,178,237 51,554 24,284 75.838 7, 126 4.567 11.693 110,597 110,597 20 TAXATION The Circuit is a r8gi5tered charity and is en1it18d to dain annual ex8mption from UK CLVP)ration tsx. 21 CAPITAL COMMITMENTS There were no eapllal eommltments aulhorised and ccrt1Ct8d for at the end of lh8 ar{2023 £nlll. 22 LEASE COMMITMENTS Fln8nco 18as8 commltments 2024 2023 The Circuit had lh8 following cornmilmgnls uTrJ8r f¥wnce lea50¥'. Not later than one y88r Later than one year and nol laler than fiv8 )rS 222 222 Lsss inter1 eh8rg Per creditors not8S 222 25
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 23 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASHFLOW FROM OPERATING ACTIVITIES 2024 2023 Net incornellexpenditurel before Iran5fe Add back depreciation on fixed assets Deduct property transferred to Circuit Deéucvladdl unrealised gainsllbssesl on investments Deduct interest incorne shown in investing activities Decreasellincreasel in debtor5 In¢reaselldecr8as81 in creditors Net cash g8n8r8t8d fromllused Inl operatSng actlvttle$ 2,279,887 21.381 12,448,355) 14,4401 120.0521 10,260 14,938 146,3811 2,094,602 17.296 (195,0001 fl,672.9061 (27, 1791 (67.3181 761 150,256 24 NET MOVEMENT IN DEBT finance lease ropald other non ¢a8h At 3118123 cashllows at 31108124 Ca•h and ¢08h •qul¥ahb)ts Cash at bank and in hand 256.539 (121,836) 134,703 Debt Financo base 0JatKYnS 222 222 Cash ond ¢a•h •qul¥ahnts ng1 of delA 256.317 134,481 Th6r8 werè no.. acquisitions or diswsals ol subsidiariss,. Jn 8xehang8 movamants; or m8rk8t value chan98s in tha period. 25 PROPERTIES RENTED OUT Bllerton He house and ardens Ch8llerton Hey house an¢ gardens are rented ¢0 Langley Hall Trust on a N¥enty five year lease that expl$ in September 2021. Although this Is a market rent. Ihe Circuit believes that th6 arrangement is in furtherance of its chartable objectives. 2024 2023 Rent due one year Rent due 2- 5 y88rs 33.410 66,820 33.410 100,230 The n8t book value include in Ire8hc4d prop8rties al Ihe end wa5 £68,716. The Weslè Centre The Circuil owns and operate5 the Wesley Centre w Hulrne which ptovides a base for the Circuit offi. In order lo coverthe costs of the property the Circuit rents office5 aw¥J other sw on lenanoe5 at will to other charities, comrnunilies and busines5. nses When manses are not ¢urren¢ly occupied by a mTh)ister but Ihe Ctrcurt believes that they will be wuld in the future then they are let on aSsUd short hold lenanc*s of no mtye than 12m(th$ at a time. Ouring the year th8 inccmne was 116,4(MI12023- £13,437}. The Manchester and Stockport Methcxli8t Districl was unatrAe to the capital purchase of a manse. and in order to assist it the Circuit acquired a man58 for it and agreed a tekm market rent of £6,000 pa. The arrdng8m8nt W8S terrrinated at 31112124. Trinit Ancot8S The Circuit ads a5 at managing tnthes (rf fornier in Ancoats. vthich 15 being ed to ddNer a range ofcornmunity and tnission pr15. During thi5 year and the pri(K the only rentsl incotne wa5 frotn casual hires 26
Docusign Envelope ID". 8A073EFF-72EfAB2F-80D7-D39EOBDC9317 NOTES TOTHE FIi&4NCiAL STATEiiÉNT8 FOII THÈYEAR EMOeD AUGU8T 312024 26 RELATED PARTY TRANSACTIONS Ministers Stipends and gllowances for presbyters and deac(5 (Collli¥elY fflinistersl are sel annually by the Melhodi5t Confferen, and the Circuit 15 responsible for meeting those costs foy all rninister5 apwinte(I by the Conference to the Circuit. Details of stipends paid lo ministers who are membets of the Circuit meeting a as fdkyws. The fdlowing re¢ewed the basic stipend IU9.040." 2023." £26.9281." Deacon Pru Cahill 122123 ontyl. Revd C Hughes. Rev Sharon Read. Revd. Joy Rulton. Revd. Ken Stokes. Revd. Caroline Wickens. In addition. th& Revd lan Rutherford. who Is the City Centre Minister and receives his Stipend from the Man¢hest8r and Sto¢kport District. is provided with ?MM(jaOn as part of the partnership arrangw*nt with the District. In addition to the basi¢ slipend. the ConneOnallY age Superintendent Minister's alk)wan¢e £2.90412023'. £2.6921 was pald to Revd Caroline WKkens in 2023124 and 2022123. Other ministers who are resident in th8 Circurt, frK th8 puwes of Ihe M8thl18t stations and are not retir8d, but not in Circuit appointments or without apwnlment are also members CA th8 Circuit K4e8knrvJ tmrt do not receN8 payTn8nt or aCCnm&1ati0n from the Circuit, except for preaching lee5 and expenses. Lay employaes The following member5 of the Circuit Meeting were also emF4oyees ol the Circuit and were in receipt of salaries for the work they undertook in the Capacities indicated. Liz Stuart Ict)k no part In the dMion to rellempltsy her. Neither person received payment lor acting as trustees. Thè amounts pai¢J as salary were as folknvs.. Nomo Po$l¢lon 2024 2023 Ange18 Doe Liz Stuart Circuit Admini%trator to January 2023 Lay emplo 5,472 5,915 5.923 other payments Andrew Slim. a ol thè Circuit rneeling has provided property advicè s•rvlces through his limited comp8ny Andrew Sllm Limited. in th8 ordin8ry course of bu5ine5s. H8 tojk no part in the deo'5ion lo apwnl hi5 company and it was engaged on nornal commercial terms. PanentS in the 2023124 amounted to £9.35012023.. £5.3891. W••l•y Llmlt•d The subsidiary company did not trade in ther this or the previous yBar. M•thod18t Chapel Ald Llmlt•d Andrew Slim. a member of the CSrcuft Me8brvJ, was 8 Th)n•xecLrtive of Methodist Chapel Ald Llmltsd throughout the year. As al 31 Augw812024, Methodist Chapd Aid Limited hekl luryts behaifol Ihe ¢Ul1 tlI1rj £14,243131108123- £14,196). Peter Smlth Accountancy S8r¥lces Peter Smith la Irusleel tTa¢ing as Peler Smth Acoxjntsrw seICe5 was aponted lo pro¥lde professlonal accountancy and advice $8rvices beyond th058 normalty exp8Ct8d ol a trustee. Accruals in r8sFeci of work on the 22123 and 23124 are Indud8d in these accounts for £5,0001£2,500 p-al. 27