NEW RIVER METHODIST CIRCUIT LONDON
Charity Registration Number: l 135316
Circuit Number: 35122
Annual Report and Financial Statements
31 August 2024
Tandem Accounting Ltd
Chartered Accountants
17 Heathville Road
London N19 3AL

NEW RIVER METHODIST CIRCUIT LONDON
Annual Report and Financial Statements 2024
Contents
Page
Legal and Administrative Information
Annual Report of the Trustees
Independent Examiner's Report to the Trustees
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements

NEW RIVER METHODIST CIRCUIT LONDON
Annual Report of the Trustees
For the year ended 31 August 2024
Charity Name
New River Methodist Circuit London.
Principal
Addres5
Palmerston Road, Palmers Green. London N22 8RA.
Governing
Document
Deed Of Union (19321 and Methodist Church Act {19761-
Objectives
The charity's main objective is to act as a resource provider for 9 churches, within the are
around North Lorsdon, covering the borough$ of Haringey 2nd a small section of Enfield for the
MeEhodist Church.
The purposes of the Methodist Church are and shall be deemed to have
been since the Date of Union the advancement of..
al The Christian faith in accordance with the doctrinal standards and discipline of The Methodist
Church.,
bl Any charitable purpose for the time being of any Connexional, Distric( Circui4 local or other
organi5ation of The Methodist Church.,
cl Any charitable purpose for the time being of any society or institutior) subsidiary or ancillary
to The Methodist Church..
d) Any purpose for the time being of any chariry being a charity subsidiary or ancillary to The
Methodist Church.
Key
Management
Personnel
Those in charge of directing, controlling, running and operating the charity on a day-to-day ba515
were:
Active Circuit Ministers: Rey. T Samuel, Rev. M Lunn. Rev. S Poxon, Deacon M Poxon, Rev.
F M'ltiiri. Rev. R Weekes
Circuit Stewards: Mr T Addo. Ms L Blenman, Ms E Cameron, Ms B Fenning, Mr J Koomson
Adminlstrator: Mr N Tharumarnj2h lJan24-Mir24), Ms B Combe5 (Apr24-lu124)
Treasurer. Ms L Thompson
Lloyds Bank
25 Gresham Street
London EC2V 7HN
Bankers
john Helm ACA
Tandem Accounting Ltd
17 Hearhville Road
London N19 3AL
Independent
Examiner

NEW RIVER METHODIST CIRCUIT LONDON
Annual Report of the Trustees
For the year ended 31 August 2024
Trustees
The Trustees who served during the year or who were serving at the date of this report were:
Rev. T. Samuel
Rev. C. Haines
Rev. M. Lunn
Rev. F. M'ltiiri
Rev. S. Poxon
Deacon M. Poxon
Rev. R. Weekes
Student C. Frimpong-manso
(Chairlsuperintendent)
(Appointed I September 2024)
{Appointed I September 2023)
(Resigned 31 August 20241
(Resigned 31 August 20241
(Appointed I September 2023)
C. Agyeman-Duah
G. Akrobettoe
C. Allen
J. Arhin-mensah
J. Asenso
J. Beckford
Berko
S. Blenman
Brou
J. Charles
G. Christie
C. Dadey
D. Dongsieri
P. Eedle
S. Ellis
C. Fakeye
B. Fenning
M. Glynn
Guthrie
K. Hagan
M. Harding
L. Hercules
T. Hercules
P. King
. Koomson
S. Koomson
P. Masuku
Nimako
E. Olayinka
E. Opoko-Abebreseh
B. Simpson
A Thomas
L. Thompson
S. Vijayakumar
D. Watson
The following trustees resigned on 31 August 2024..
E. Aidoo
C. Ambrose
C. Arhin
J. Arhin
R. Ankomah
T. Addo
L. Blenman
S. Baidoo
S. B2nton
S. Boakye
E. Cameron
K. Coates
B. Combes
E. Donkor
E. Dufour
U. Duberry
G. Elli5
G. Jamerah
D. Jiagge
E. Mingo
S. Maginley
Y. Maginley
A. Nartey
. Owusu-Antwi
O. Phipps
T. Power
D. Wade
The followng trusiees were appointed from I September 2024-.
J. Agyeman8
D. Amponsah
E. Ampon5ah
L. Baffour Awuah
L Bonsu
A. Duah
L Ellis
N. Gatvla
W.Jamerah
S. A Koomson
P. Richards
J. Vanhorne

NEW RIVER METHODIST CIRCUIT LONDON
Annual Report of the Trustees
For the year ended 31 August 2024
The Trustees submlt thelr annual report and the firbancial statements of New River Methodist Circuit London ("the
Circuit") for the year ended 31 August 2024. The financial ststements have been prepared in the format prescribed by the
Statement of Recommended Practice.. Accotjnting and Reporting by Charities ISORP2019 (FRS102)l- The legal and
administrative information set out earlier in this document forms part of this report.
l. Structure, Governance & Management
The governing document for the Circuit Is the Deed of Union (1932) and the Methodist Church Att I1976)- Detailed
governance arrarigements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order
of the annual conference {CPD).
The Circui£ Meering is ihe trusiee body and consisrs of office holders and represenTatives of the local churches within the
Circuii who are all anntj￿jY appointed by Church Councils. The Circuit Superintendent is ex officio chair of the Circuit
Meeting
Day to day management of the Circuit is undertaken by the Circuit Leadership Team as well as specific committees for
Circuit Finance, Circuit Property and Circuit Policy Committee.
The Circuir is part of Ihe London Discrict 2nd is made up of 9 churcheg- Finsbury Park, Holly Park, Middle Lane. Miller
Memorial, Mu5well Hill, Raven5dale, St Marks, Trinity-At-Bowes and Willoughby.
2. Activities & Public Benefit
The principal purpose of the Circuit is to act as a supporting body between churches 2nd the District and Connexion. The
Circuit doe5 not seek and in large measure, doe5 not attain dirett contatt with the public. The direct contact is by the
individual churches. Ic is these that the Circuit supports in their desire to provide benefit to the public.
The Circuit's nine churches have 2 vibrant urban multi-ethnic evangelical congreg3tion wich a membership of over 850.
The Trustees have given due regard to the Charity Commissions, guidance on public benefit. During the year the circuit
churches continued to carry out the following acrivities in order to promote the Gospel in their local neighbourhoods:
Sunday Worship
Children & Youth's ictivitie$
Bible Study and prayer meeting
Christian coun5elling
Pa5£0ral Yi5its
3. Superintendent's Report - Revlew of Progress & Achievements
The New River Circuit {NRC) serves and represents nine churches in Enfield. Harringay and HackrTrey boroughs. The prime
r2sk of the NRC is to work together in Chrisiian sacramental ministry ar)d social action. Our Christian faith requires that
we work together, 'that they may be one,. Our vision is to be transformative and progressive. Our values are based on
sharing our strength and weaknesses to achieve our rni5sion and ministry in love. Our mission and ministry depend on the
effective management of our resources such as human, finance and bulldings.
In the Methodist year 2023-2024, the ministerial strength consisted of five presbyters, one Deacon and one student
minister, making seven in total. The tQTal membership of the Circuit was reported to be 851. The Circuit was able 10
susrain the Circuit sraff ministry and the churches life through its prudent financial managemeni and Considerate human
relationship.

NEW RIVER METHODIST CIRCUIT LONDON
Annual Report of the Trustees
For the year ended 31 August 2024
The Circuit income from unrestri￿d funds for this year was £ 375,946.
The source of income falls into three area5. 1. Asses5ment5 from 9 churches, 2. Rental Income, 3. Donations and other..
l. Assessments from 9 churches..
2. Gross Rental and CFB interesL'
3. Donation5 and other..
£323,820
£51,490
£636
86.1%
13.7%
0.2%
The Circuii expenses from unresiricted funds for this year was £ 367,973.
The Circuit's main commitments are based on four areas. Presbyter's Stipends, District and Connexional Assessments,
Presbyter's expendiiures, and The Circuit expen5e5. Thi5 financial year the spending has followed as..
l. Presbyters Stipend% (Salary):
2. District & Connexional Assessments..
3. Ministry Expenses (administrator and other)..
4. Property (Manse & Church) expenditures:
£199,163
£94,080
£23,788
£50,942
25.6%
6.5%
13.8%
Thi5 financial year the NRC is facing intense change5 and challenges. The first change is for the NRC to reduce the number
of presbyters. Secondly, the nine churches. assessments have not been raised as pledged in this year's btjdget. It is our
strong desire for otjr churches to remain steadfast to their commicmenLs ￿ the Gospel, so we are determrned to meet
the challenges together, now and in the years ahead. The NRC seeks to serve and support its members to speak up on
issues that matter to the local churches. It also seeks to bring members together to make commstments that make Je5US
to be known to us and in the community.
The Circuit's hope, thac in Ihis financlal year, this report encourages the nine churches to become more committed to the
Circuit's Mission. The Circuit also hopes that the membership join to share together on this journey.
In the year under review the following events occurred:
Mtddle L2ne and Willoughby
Rev Frnncis M'ltiiri joined the circuit in September 2023, taking the pastoral leadership oversight of Middle Lane
and WillouO)by. With the SUPPO￿ of Senior stewards and the local church councils, the financial accounts for
2021-2022. & 2022-2023 haye been financially examined and filed in the Circuit Offi￿.
2. Holly Park and Muswell Hill
Rev Matt Lunn continued to serve a5 their pastoral minister. The Muswell Hill Church successfully continued its
Sunday afternoon service for Lego and Messy church. The garden musi¢ programme has been maintained. The
Church services continued to have a good number of refugees as attendants. Holly Park has Praise & Worship
Service once a month during the week.
St Marks and Ravensdale
Rev Stephen and Sister Myrrle Poxon conrÉnued as part-time active supernumeraries. These tsvo churches have
successfully joined its Church councils to become one. The Haringey loc21 authority's 'Haringey Heritage
Development Projett. started its pace one programme. The schemes have already given a face lift to the Church
facade.
4. Finsbury Park and Miller Memori
Rev Rupert Weekes continued as their pastoral minister and Depury Circuit Superintendent The membership
of these two churches have been maintained and they have courageously contribtjted towards their future
programme.

NEW RIVER METHODIST CIRCUIT LONDON
Annual Report of the Trustees
For the year ended 31 August 2024
Trinity at Bowes ffaB)
Rev Thurairajah Samuel continued as pastoral minister for TaB Church and Centre Plus. He was then appointed
as the incoming superintendent minister for NRC. TaB continued to support the vulnerable people in the
communiry by its food-sharing programme.
So far, prayerful and prudent management h2s helped to steady the ship (the Circuit). Therefore, li is hoped that the
appropriate resources (human, finance and properties) will be maintained and developed to wirhstand the varioLES change5
that the Circuit is bound to face in the future. To God be the Glory.
The Superintendent Minister
4. Financlal Review
4.1 Financial Activity and Flnanclal Position
The Circuit is funded by each of rhe nine churches contributing an annual assessment paid quarterly. There is also iricome
from one investrnent properry and a small amount from interest income.
The Statement of Financial Attivitie5 and the Balance Sheet can be found on page5 9 and I I respectively. The Circuit's
financial resources decreased by £37,914 during the year (2023: increased by £796,435}. The Balance Sheet shows totsl
funds of £3,038,680 {2023.. £3,076,594).
4.2 Reserves Policy
The Trus£ees have examined the requirements for gener21 reserves and consider, given the nawre of the Circuit's work
that the general reserves should be equivalent to cover at least three months normal expenditure. This is deemed sufficient,
if in the event the Circuit Assessment from a church within the circuit is not met or to meet any unforeseen items of major
expenditure on manses and so to be able to continue, in rhe short term. the funding of normal daily expenditure.
At 31 August 2024 the Circuit hid net free reserves of £30.911 (2023: net free reserve5 of £69,169) as follows:
2024
Total Circuit Funds
3,038,680
{2,951,9031
(55.866)
3.076.594
(2,945,000)
(62.778)
Less.. Non-current Assets
Less.- Designated & Restricted furhds
Free Reserves
30,911
69,169
Free Reserves Requlrement:
3 month's budgeted routine expenditure
85,000
93.700
The trusrees are aw2re that the current free reserves are below the free reserves requirement and are actively looking at
ways in which parity can be restored.
4.3 Investment Policy
The Circuit currently invests spare funds in an Interest bearing bank account.

NEW RIVER METHODIST CIRCUIT LONDON
Annual Report of the Trustees
For the year ended 31 August 2024
4.4 Grants Policy
The Circuit makes specific grants to support the ongoing work of churches within the circuiL The policy of the Circuit is
to give grants on the basis that they are subject to annual review and only renewed on the basis of meeting set criteria.
Grants were granted to four churches (2023- 2) in the current financial year to fund building work
S. Plans for Future Periods
The Circuit plans to continue with its existing Christian activicies by providin8 support to its nine member churches.
However. the Circuit continues to face financial challenges due to falling church membership and the need to help finance
urgent building work on 2 number of church manses as well as several churches. The majority of this expenditure has now
been completed and any future surplus will be used to rebuild general reserves.
Whilst there is also the possibility of inother small deficit, there is at present sufficient cash reserves to absorb this deficit.
Accordingly, the trustees have concluded it is appropriate to prepare the 2024 Accounts on a going concern basis.
6. Responsibilities of Trustees for the Financial Statements
The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and
United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the Trustees to
prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and
of the incoming resources and application of resources of the charity for that year.
In preparing those financial statements, the Trustees are required to:
select suitable accounting policies and apply them consistently-
observe the methods and principles of the Charities SORP;
make judgements and estimates that are reasonable and prudent,.
State whether applicable accounting standards have been followed, subject to any deparrures disclosed and
explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities
of the charity will continue.
The Trustees are responsible for keeping adequate accounting records, which disclose with reasonable accuracy at any
time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities
Act 201 I, the Charity {Accouncs and Report5) Regulations 2008 and the provisions of the governing document. The
Trustee5 are also responsible for safeguarding the asset5 of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity
of the Circuit's financial information included in the Circuit's website.
7. Approval
The Annual Report of the Trustees was approved by che Circuit Council on 23, June 2025 and signed on its behalf by..
Rev.
irajah Sa
Ir

NEW RIVER METHODIST CIRCUIT LONDON
Report of the Independent Examiner to the Trustees of New River Methodist Circuit
London
For the year ended 31 August 2024
I report on the financial statements of the New River Methodist Circuit Londorb for the year ended 31 August 2024. set
out on pages 9 to 23.
This report Is made solely to the TrLbStee5 in accordance with settion 145 of the Charities Act 2011 (the Act). My
independent examination has been undertaken so that I might state to the Circuit Council those matters l am required
to State to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by the
law. I do not accept responsibility to anyone other than the Trust and the Trustee5 for my independent examination, for
this reporo or the opinions I have formed.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Trustees considers that an audit is not required for this year (under section 144(2) of the Act) and that an
independent examination is needed.
It 15 my responsibility to:
Examine the accounts (under section 145 of the Act).
To follow the procedures laid down in the General Direttion given by the Charity Commission (under section
14515)(b) of the Act),. and
To State whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S STATEMENT
My examination was carried out in accordance with General Directions gsven by the Charity Commissioners. An
examination include5 a review of che accounting records kept by the chariry and 3 comparison of the accounts presented
with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking
explanations from the Trustees concerning any such matters. The procedure5 undertaken do not provide all the evidence
thar would be required in an audit, and consequently I do not express an audit opinion on the accounts.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the
examination giving me cause to believe that in any material respecL
l. accounting records were not kept in respect of the circutt as required by section 130 of the kn. or
2. the accounts do not accord with those records- or
3. the accounts do not comply with the applicable requirements cor¢cerning the form and content of accounts set out
in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true
and fair view. which is not a matter considered as part of an independent examination.
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.
John Helm ACA
23 June 2025

NEW RIVER METHODIST CIRCUIT LONDON
Statement of Financial Activities (SOFA)
For the year ended 31 August 2024
Unrestricted
Designated
Funds
Restricted
Total
Nots5
Fund$
Funds
2024
Income From:
Donarions & Legacies
Charitable Activittes
636
1,241
1,877
323.820
323,820
Investments
51,490
1,620
53,110
Total Income
375,946
1.620
1,241
378,807
Expenditure On:
Raising Funds
Charitable Activitles
7,763
360.210
87
7,850
47,067
1,594
408.871
Total Expenditure
367.973
47.154
1,594
416,721
Net Incomel(Expenditure)
7,973
(45.534)
(353)
(37.914)
Transfers Between Funds
(38,975)
38.975
Net Movement in Funds
(31,002)
(6,559)
(353)
{37,914)
Total Fund5 Brought Forward
3,013,816
62.425
353
3,076,594
Total Funds Carried Forward
2.982,814
55,866
3,038,680

NEW RIVER METHODIST CIRCUIT LONDON
Statement of Financial Activities (SOFA)
Comparatives for the year ended 31 August 2023
Unrestricted
Designated
Funds
Restricted
Total
2023
Notes
Fund$
Funds
Income From:
Donaiions & Le￿cleS
Charitable Activities
7,400
353
7,753
336,819
336.819
Investments
31.331
991
32,322
Total Income
375.550
991
353
376,894
Expenditure On:
Raising Funds
Charttable Activities
3.816
11.451
15,267
388,792
26,400
415.192
Total Expenditure
392,608
37,851
430,459
GwnsllL055e5} Investment Properties
850,000
850,000
Net Incomel{Expendtture)
832,942
{36,860)
353
796.435
Transfers Between Funds
{5,000)
5,000
Net Movement in Funds
827.942
(31,860)
353
796,435
Total Funds Brought Forward
2,185,874
94,285
1280,159
Total Funds Carried Forward
3,013,816
62,425
353
3,076,594
10

NEW RIVER METHODIST CIRCUIT LONDON
Balance Sheet
As At 31 August 2024
Unrestricted
Designated Restricted
Funds
Funds
Fund5
Total
Total
2024
2024
2024
2024
2023
Note
Fixed Assets
Tan&ble Fixed A5set5
Investment Property
1,730.000
1,200,000
1,730,000
1,200,000
1,730,000
1,200,000
2,930,000
2,930,000
2.930,000
Current Assets
Debtors & Prepayments
Investments with Trustees for
18,961
18,961
15,995
Methodist Church Purposes Deposits
31,460
31,460
30,695
Methodisc Central Finance Board Deposlts
Cash At Bank & On Hand
94.311
24,406
118,717
3,595
157,378
3,595
18,812
116,867
55,866
172.733
222,880
Creditors- Amounts Falling Due
Within One Year
85.956
85,956
91,286
Net Current Assets
30,911
55.866
86.777
131,594
Loans Receivable After More
Than One Year
21.903
21,903
15,000
Net Assets
2,982,814
55,866
3,038,680
3,076.S94
Funds of the Circuit Represented by
Unrestricted Funds
2,982,814
2,982,814
55,866
3,013,816
62,425
Designated Funds (Unrestricted)
55,866
Total Unrestricted Funds
2,982,814
55,866
3.038.680
3,076,241
Restricted Funds
353
Total Funds
2.982,814
55,866
3,038,680
3,076.594
The financial statements were approved by the Trustees on 23. June 2025 and signed on its behaff by:
Lorna Thompson
Treasurer

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
l. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainry in the preparaoon of the
financial sutements are as follows-
Basis of Accounting
The financial starements have been prepared under the Charicie5 Act 201 l and in 2ccordance with the Charities Statement of
Recommended Practice (Charities SORP (FRS 1021} and Financial Reporting Standard 102 (FRS 1021- The financial Statements
are drnwn up on the hi5tDrical c05t ba515 of accounting except for the revaluation of freehold land and builéings which are
shown at fair value.
The financi21 statements include all transactlOWls. assets and liabilities for which the Circuit is responsible in law. They do not
include the accounts of church groups that owe an affiliation to another body or those that are informal gatherings of Circuir
members.
The Circuit meets che definitbon of a public benefit entity under FRS 102.
Going Concern
There are no material uncertainties about the charity's ability to Continue as a going concern and accordingly the accounts
have been drawn up on a going concern basis.
Income Recognition
Volunt2ry income and donations (including legacies) are accounted for once the Circuit has entitlement to the income, it IS
probable the income will be received and the amount of income receivable can be reliably measured. Income from the
recovery of tax on gift aided donations is accounted lor in the period to which the relevant donation 15 received. Grant income
is recognised on i receivable basis.
The income from trading activities includes renfal income from the letting of Circuit premises and freehold land and buildings
which is accounted for when eirned.
Interesc on funds held on deposit is included when receivable and the amount can be measured reliably by the Circuit- this is
normally upon notification of the In￿re5c paid or payable by the bank
Expendlture Recognition
Expenditure is accrued as soon 2s 2 liability is considered probable, and the amount of obligation can be measured reliably.
Longer term liabilities are discounted to present value. The Circuit is not regis£ered for VAT and accordingly expenditure
includes VAT where appropriate.
Charitable expenditure includes ihose costs in fulfilling the Circuit's prir¢cipal objects, as outlined in the Report of the Circuit
These include grants payable and ggvern2nce costs..
Grants plyable are paymenTS made to third partie5 in furtherance of the Circuit'5 objects. In the case of an unconditional
grant offer this is accrued once the recipient has been notified of the grant award. The notification give5 the recipient a
reasonable expectation that they will re¢eSve the gran£. Gr2nts awards that are subject to the recipient fulfilling
performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled
condition attaching to that gratFt is outside of the control of the Circuit.
Governance costs comprise all costs Involving the public accountability of the Circuit and compliance with regulation
and good practice. These costs include cost5 related to the independent examination and legal fees.
12

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
l. Accounting Policies (continued)
Tangible Fixed Assets
Tangible fixed assets are accounted for a5 follows..
The Circuit land and buildings are stated at historic cost. Depreciation 15 not provided as the estimated residtjal v21ue is
considered to be the same or higher than the carrying v21ue of the property in the accounts.
The cost of furniture, fittings and equipmenl of a Yalue greater tharb £ 1,000, less any expected residual value are GlPitalised
2nd depreciated on a straight-line ba51s over the effective useful life of the asse¢ which has been estimaTrd at five years.
Investment Properties
Investment Properties are professionally valued at market value.
Debtors
Debtors are included at the settlement amount due. Prepayments are Yalued at the amount prepaid.
Loans
Where concessionary loan5 (i.e., free of interest) are made to {or received by) the Circuit to further its charitable purposes.
ar*d are repayable after more than one yeir, they are initially recognised at the amount paid [or received], with the carrying
value adjusted in SLtbsequenr years to reflect repaymenrs and any accrued inieres4 adjusied for any impairmen( if necessary.
Where there is objective evidence of impairment, an immediate impairment loss is recogni5ed in the Sraiement of Financial
Activities. Subsequenr reversals of an impairment loss that objectively relate to an event occurring after the impairment loss
was recognised, are recogni5ed immediaiÈly in the Staiemenr of Financia5 Acrivities.
Cash at Bank and on Hand
Cash at bank and in hand includes ¢ash and short term highly liquid investments with 2 short maturity of three months or less
from the date of opening of the deposit.
Creditors and Provisions
Creditors and provisions are recognised where the chariry has a present obligation arisTrng from a past event that will probably
result in the transfer of funds to a third party and the amount due to settle the obligation ¢an be measured or estimated
reliably. Creditors and provision5 are reeognised at their settlement amount.
Fund Accounting
The fund5 held by the chariry are either-
Unrestricted general funds are funds which can be used in accordance with the charitable objects at the di5tretion of
the trustees.
Di5crerionary Funds are funds which trustees have eannarked for a parcicular project or tjse. without restricting or
committing the funds legally. The designation may be caneellÈd by the trustees if they liter decide that the tharity
should not proceed or c05)tinue with the use or project for which the funds were designited.
Resiricted funds - these are funds that can only be used for p2rticu12r restricted purposes within the objects of th¢
charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
There were no Endowment Funds.
13

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
2. Donations & Legacie5
Unre5trlcted Designated Restrl¢ted
Funds
Funds
Funds
Total
Total
2024
2024
2024
2024
2023
Donations
636
1.241
1,877
7,753
Legacies
636
1,877
7,753
3. Charitable Activities
The New River Methodist Circuit London assessments due from Churches to the Circuitfor the year were as follows..
Unrestricted Designated Restricted
Funds
Fund$
Fund5
Total
Total
2024
2024
2024
2024
2023
Church Name
Finsbury Park
Holly Park
Middle Lane
25.000
25.000
25,000
20,824
20.824
20,824
21.902
21,902
21,902
Miller Memori21
36.360
36.360
36,360
Muswell Hill
55,000
55,000
65.754
Rayensdale
16.216
16.216
16.216
SL Mark's
73.942
73.942
73.942
Trinlty-at-Bowes
Willoughby
59,S76
59.576
59,576
15,000
15.000
17.145
323.820
323,820
336.819
Indsvidual church assessments are reyiewed annually when preparing the nextyear's financial forecasL The assessment
ley for each ohurch 15 determined by the number of its member5, if (here are other Income srreams Imalnly church
rentals) and whether irkdividual church fund5 need to be deployed elsewhere (building repaS15 and renovation workl.
14

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
4. Investments
Unrestricted Designated
Funds
Funds
Restricted
Funds
Total
Total
2024
2024
2024
2024
2023
Interest Income
Inyestmenrs with Trustses for Methodist
1.620
1,620
991
Church Purposes Deposits
Methodist Central Finance Board Deposits
6,098
6,098
4,956
Rental Income
41 Ashford Avenue
45.392
45.392
26.375
51,490
1,620
53,110
32,322
5. Raising Funds
Unrestylcted Deslgnated Rertrlcted
Funds
Funds
Funds
2024
Total
2024
Total
2024
2024
2023
Rerrtal Property
Build%ng Renovation & Repairs
Rental Agent's f4anagement Fees
2.316
5.447
2,316
5,447
11.364
3,816
Trustees for Methodist Church
Purpose5 ITMCP)
Administrative Fees
87
87
87
7,763
87
7,850
I S,267
6. Charitable Activities
Unrestricted De%gnated
Fund5
Fund5
Restricted
Funds
Total
Total
2024
2024
2024
2024
2023
Grants & Charitable GÈving (Note 6a.)
Salaries & AssocIa￿d Expenditure (NO￿ 6b.)
DistrirtAssessment
Manse Relatsd Expenses (Notr 6c.)
Ministry Expense5 (Note 6d.I
Miscellaneous Expenses
Governance Expense5
20.150
205,005
94,080
23.179
13,992
2,844
960
1.594
21.744
205,005
94.847
18.000
240,217
92,101
48.957
10,677
4,280
960
767
46.300
69.479
13.992
2344
960
360,210
47,067
1,594
408,871
415,192
15

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
6a. Charitable Activities - Grants & Charitable Giving
The Circuit made grants to the following churches as a financial contributions towards their respecvve building works.
Unrestricted Designated
Funds
Fund5
Restr5cted
Funds
Total
Total
2024
2024
2024
2024
2023
Finsbury Park
Holly Park
M4ddle Lane
5,000
5,000
5,000
s.000
5,000
5,000
5,000
5,000
Miller Memorial
SL Mark's
Willovghby
i 0.000
8,000
20,000
20,000
18,000
The Circult made the following charitxble donations 2nd gifrs to individuals.
Unrestricted Designated
Fund5
Fund5
2024
Restricted
Funds
2024
Total
Totsl
2024
2024
2023
Giving to Organisations
All We Can
World Mission Fund
353
1,241
353
1,241
1.594
1594
Gifts to Individuals
150
150
150
1.594
1,744
6b. Charitable Activities - Salaries & Associated Costs
Unrestricted Designated Rertrf¢ted
Funds
Funds
Fund5
Total
Total
2024
2024
2024
2024
2023
Minister Stipends & Allowances
Circuir Administrator
Employer's National Insurance Contribuoorts
Pension Contribution5
Apprenvceship Levies
148,073
5,842
13,948
36.403
739
148,073
5.842
13.948
36,403
739
173,009
6,146
16,724
43,462
876
205.005
205.005
240.217
J6

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
6b. Charitable Activities - Salaries & Associated Costs (continued)
No Employee12023.. received enK>luments In excess of £60.000 during the year.
Avernge number of full time equivalent staff employed during the year were:
2024
2023
6c. Charitable Activities - Manse Related Expenses
unrestricted Designated
Funds
Funds
Restricted
Funds
Total
Total
2024
2024
2024
2024
2023
Building & Contents Insut7nce
Council T3X
Properry Repair & Maintenance
Removal Expenses
Water Charges
4,458
15.175
4,458
15.175
40.085
6.215
3.546
4,186
16.935
25,635
40,085
6.215
3,546
2.200
23,179
46,300
69.479
48.956
6d. Charitable Activities - Ministry Expenses
Unrestrl¢ted De51gnated Restricted
Funds
Funds
Fund$
Ttstsi
2024
Totsi
2023
2024
2024
2024
Computsr & Tethnology Relar£d Expenses
Prinung, Starionery & Postage
Publications & Reading Matsrials
Telephone Expenses
Travel Expenses
735
735
496
913
913
601
1,679
5.555
5,110
1,679
5.555
5.110
2.378
4.499
2.704
13,992
13.992
10.678
7. Net Incomel{Expenditure)
This is sTr￿d after ¢harging
2024
2023
Independent examiner's fees for reporting or¥ the accounts
Other accountancy or consultsncy fees paid to the independent examiner
960
960
17

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
8. Tangible Fixed Assets
Circuit
Mans
Costlvaluation
At I Septsmber 2023
Addiuons
1,730.000
Disposals
Trdnsfers
At 31 August 2024
1,730,000
Accumulated Depreciation
At I September 2023
Charge For Year
Disposals
At 31 Augutt 2024
Net Book Value
At 31 August 2024
1,730,000
At 31 Augusr 2023
1,730,000
The Circuii manses are valued at historic c05t as their primary function is to accommodats ordained sraff.
No depreciation is provided on the buildings as the trustees consider the current rÈsidual fair value of the
manse buildings lon the assumption that it had reached the end of its useful economic life by the year-endl
to be not less than its curreTrt value. Any depreciation would not be matsrial.
The manse properties maintained by the Circuit are..
13 Broomfield Lane, London, N13 4HB
49 Pages Lane. London, N10 IQB
312 Philip Lane, London, N15 4AB
56 Redston Ro2d. London N8 7HE
5 Whidey Road. London, N17 6RJ
These properries are under the legal OWFEership of the Trustees for Methodist Church Purposes.
18

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
9. Investment Property
41 Ashford Ave
London
C05tlvxluation
At I September 2023
Additions
1,200.000
Disposals
Transfer5
Investment Revaluatygn
At 31 August 2024
1,200,000
Accumulated Depreciation
At I September 2023
Charge For Year
Disposals
At 31 August 2024
Net Book Value
At 31 August 2024
1,200,000
At 31 August 2023
1,200,000
The investment propery, situated at 41 Ashford Avenue London N8 8LN. was valued in June 2024. by the rentsl agents
managing the property, at a market value berween £1.200,000 and £1.300,000.
The Trustees, valuation policy is to be conseryative and use the lower range of the valuation in the accounts.
10. Debtors & Prepayments
2024
2923
Debtors
Circuit Assessments Receivable
Rental Income Accrned
2,164
621
Prepayments
Manse Building & Contents Insurance
Rentsl Agent's M2nagement Fee5
September Stipends
1.241
371
13.460
17.099
18,961
15,995
19

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
I l. Cash At Bank & On Hand
2024
2023
Lloyds Current Account
Santander Current Accotjrjt
3.438
157
18,791
3,595
18,812
12. Creditors- Amounts Falling Due Within One Year
2024
2023
Church Assessments Received In Advance
Circuit Member Church Grdnt Payable
Manse Expenses Accrued
Miniscry Experises Payable & Accrued
Renr21 Agency Fees Accrued
Renrals Received In Advance
78,200
74,404
10,000
2,000
1,793
844
6,837
75
3,089
85,956
91,286
13. Loans Receivable After More Than One Year
2024
2023
Deferred Interest Free Building Loans to Circuit Mernber Churches
St Mark's
Trinity-at-Bowes
Willoughby Church
4,000
5,000
12,903
4,000
5,000
6,000
21,903
15.000
All loans a￿ interesrfree with payment deferred until 3 1st August 2028.
The Tru5rees had agreed to lend Willoughby Church £18,000 for urgent roof repairs. As at Augutt 2024, Willoughby
Church had borrowed £11903 arTrd there are no plan5 to borrow further funds.
20

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
14. Detailed Analysis of Individual Fund Movements
14a For the year ended 31 August 2024
Atl
At31
September
2023
August
2024
Recelved Expenditure
Transfer%
(i) Unrestricted Funds
Generdl Fund
Rèserves Fund
1.016
3.012,800
375.946
(347,9731
120,0001
{28,9751
(i o,000}
14
2,982,800
Unrestricted Funds Total
3,013,816
375.946
1367,9731
(38,9751
2,982.814
(li) Desi￿ated Funds
Circuit Model Tw5t 10799
Manse Repairs & Renewals Fund
Music Bursary Fund
Removals Fund
Training Fund
Youth Work Fund
30,696
1,287
376
10,837
8.761
10,468
1,620
18551
140,0841
31,461
178
376
4,622
8.761
10,468
38.975
{6,2151
Designated Funds Total
62,425
1.620
147,1541
38,975
55,866
(iii) Restricted Funds
Donations for Ex￿rnal Charitie5
353
1,141
11.5941
(iv) Total Funds
3.076.594
378.807
(416.721)
3.038.680
Fund Movement5 Summary
UnrÈstricted Designated Restricted
Funds
Fund$
Funds
Total
Totxl
2024
2024
2024
2024
2023
Fund Balances Brought Fotward
Net IncomellE¥penditure)
Fund Transfers
3,013,816
62.425
353
3,076.594
2,280,159
7.973
145.5341
1353
137.9141
796.435
138,975}
38.975
Fund Balances Carr￿d FovNard
2,982.814
55,866
3.038.680
3.076.594
Notes regarding transfers:
The Manse Repairs & Renewa15 Fund received £38,975 from Unrestrictrd Fund5 {£28.975 General Fund, £10.000
Reserves Fund), to fund ongoing manse rep2ir wod<.
21

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
14. Detailed Analysis of Individual Fund Movements (continued)
14b For the year ended 31 August 2023
Atl
At31
September
2022
Au8llSt
2023
Recelved Expendlture
Transfers
(i) Unrestricted Funds
General Fund
Reserves Fund
74
2.185.800
375,550
850,000
{374.6081
118.0001
1.016
3,012.800
15,000}
Unrest*icted Funds Total
2.185,874
1,225.550
1392.6081
15,0001
3.013.816
(li) Designated Funds
Circuit Model Trust 10799
Manse Rep3irs & Renewals Fund
Music Bursary Fund
Removals Fund
Training Fund
Youth Work Fund
30,556
8.287
376
lo￿37
8,761
35,468
991
30.696
1.287
376
10,837
8,761
10,468
137,0001
30,000
125,000)
Designated Funds Total
94,285
991
{37,8511
5,000
62,425
(ill) Restricted Funds
Do¥sations for Extsrnal Charitie5
353
353
(iv) Total Funds
2,280.159
1,226,894
(430,459)
3.076.594
Fund Movements Summary
Unrestricted Designated
Ftsnds
Funds
Restritted
Fund$
Total
Total
2023
2023
2023
2023
2022
Fund Balances Broughc FoFward
Net IncomellExpenditure}
Fund Tran5fer5
2.185.874
94285
2,280.159
2,390,729
832,942
136,860}
353
796.435
1110,570}
15.0001
5,000
Fund Balances Can7ed Fo￿ard
3,013.816
62.425
353
3.076,594
2,280,159
Notes regardin8 transfe￿.
The Manse Repair5 & Renewa15 Fund received £30,000 from the Reserves Fund, to fund ongoing manse building
mainrenance 2nd the complerton of d)e renova￿0￿ work ai 41 Ashford Avenue.
The Youth Fund transferred £25.000 to the Re$er¥es Fund to help finance the £30,000 tyan5fer to the Manse Repatrs &
Renewals Fund. As this was a tynsfer from a desigrtatsd thnd to an unrestrietrd fund, li wa5 agreed by a VO￿ at a Circuit
meeting.
The net impact on the Reserves Fund was a £IS.000) fund ￿due￿Ort.
22

NEW RIVER METHODIST CIRCUIT LONDON
Notes to the Financial Statements
For the year ended 31 August 2024
14. Detailed Analysis of Individual Fund Movements (continued)
Dèscriptions of the Designated Funds are a5 follows:
(l) Cirtuit Model Trust: 10799: The tnjst j5 administrated by The Trustees for Methodist Church Purposes (TMCP).
The main purpose of this trust is to fLtnd granrs for church building work. Funds arise from the sale of church properties
a￿d the proceeds are held in intrre5t bearing money accounts.
(il) Manse Repairs & Renewals Fund: Fund5 for the purpose of maintaining the Circuit manses and invests))ent property.
<iii) Music Bursary Fund: Fund5 ro help finance the purchase of music equipment and the cost of music lessons.
(iv) Removals Fund: Funds to cover the removal costwhen ordained sr2ff move intr) ? manse within the CircLFiL
{v> Training Fund: Funds to cover the cost of tr7ining for ordained stsff 2nd12y pre2¢hérs.
(¥1) Youth Work Fund: Funds to Cover the c05t of youth ministry for the young people within the CircuiL
15. Related Party Transactions
During the year, a leaving gift of £1.360 was made to Rev. S Poxon & Deacon M Poxon, both trustees of the charity, to
recogr*ise their contribution upon departure. This gift was funded by voluntsry contributions from Churches within the
Circuit but was coordinated and paid through the charity.
A leaving gift of £SO was made to Mr K Coatss, a wjjsree of the thariry. to recongise his service as a Circuit Stsward. This
gift was made from Circuit funds.
There were no other related parry transactions during the 2023-24 financial year {2023-. £1,150)-
16. Capital Commitments & Contingent Liabilities
As at 31 st August 2024, or subsequendy to the date of the signing of this report the Circuit has not entsred into any
capifal commitments or has any contingent liabilities.
23