**Banbury Methodist Circuit** (Registered Charity No: 1135376) 

## ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDING AUGUST 2020 

Address for Correspondence: Superintendent Minister: Revd Lin Francis 

1 Waller Drive, Banbury, Oxfordshire, OX16 9NS 

Independent Examiner: Ms Joanna Watson CIMA Vandyplank House, 9, High Street, Long Buckby, Northants NN6 7RE 



## **THE SHAPE OF THE BANBURY METHODIST CIRCUIT** 

The Banbury Methodist Circuit is the umbrella support for eleven Methodist churches (one Local Ecumenical Partnership) straddling the two counties of Oxfordshire and Northamptonshire. 

The churches are situated in Banbury and in the villages which surround the town. The churches are: 

- Adderbury 

- Chacombe 

- Cropredy 

- Easington 

- Fairway 

- Greatworth 

- Grimsbury 

- Hinton 

- Horton 

- Marlborough Road 

- Middleton Cheney 

- St Francis (LEP) 

Middleton Cheney ceased to worship and therefore closed on 24[th] March 2019 

During the year, there have been two full-time presbyters, eight supernumerary ministers (four of them active), and eleven local preachers, serving the worship of the circuit. In addition, we had a full-time Children & Families Worker and a parttime Administrator. 

## **OUR PURPOSE STATEMENT READS:** 

The purpose of the Banbury Methodist Circuit is to support, enable and encourage our churches in worship, learning and caring, service and faith-sharing. 

## **ACTIVITIES DURING THE YEAR** 

- During the year 2019/2020 there have been 354 Sunday services held across the Circuit.  Due to the COVID-19 pandemic 22 have been Circuit Services on zoom. 

- There have been two Circuit Services at Marlborough Road, the aim of which is to bring the Circuit together and provide our smaller chapels with a sense of belonging to something bigger. 



- There have been 28 midweek Communion Services held on Thursday mornings. 

- Bible Studies and Fellowship have been held across the Circuit churches, especially during the periods of Advent and Lent. 

- There have been significant numbers of "ecumenical" services in the villages as regular arrangements for shared worship have continued. 

- Each church has provided pastoral care to their members and others beyond the church family. 

- The Preachers and Leaders of Worship have met on four occasions over the year. These meetings have involved business, fellowship and personal development. 

- The Circuit Leadership Team have met on several occasions throughout the year to discuss the vision for the circuit, to provide direction to the circuit and to deal with business between each Circuit Meeting. 

## **FINANCIAL REPORT** 

The accounts are prepared on a receipts and payments basis. The Circuit's total income for the year 2019-20 was £278,726. 

Expenditure for the year was £224,196. 

During the year, income minus expenditure £54,530. 

The reserves policy for 2019-20 set out the Circuit's plans for use of all funds carried forward from 2018-19 and includes investment in resources for mission. 

It is anticipated that income will exceed expenditure in 2020-21 because we will be selling one Church Property. In the longer term, the Circuit is taking steps to develop plans for church growth. 



CIRCUJT
RECEIPTS AND PAYMENTS
ACCOUNT8
THE METHODIST CHURCH
STANDARD FORM OF ACCOUNTS
BAN8URY CIRCUIT
FOR THE YEAR ENDED
31 AUGUST 2020
NORTHAMPTON METHODIST DISTRICT
CIRCUIT NO 23105
REGISTERED CHARITY NO 1135376
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Ministers..
Rev Lin Francis
Rev Steve Swann
Circuit Stewards..
Mrs Janel Jones
Mrs Cale Vokes
Treasurer..
M188 Mary Tanner

£COUNTS FOR THE YeAR ENDED 31 AUGUST 2020
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## **Banbury Methodist Circuit Circuit Reserves Policy 2020-2021** 

This document sets out our reserves policy for all the funds held by the Circuit Meeting as charity trustees. It includes the Circuit Model Trust Fund which is no longer classified as a restricted fund. 

## _**Aim**_ 

**1.** To secure and sustain the Circuit’s financial viability and future. 

**2.** To give reassurance that the Circuit, which is a charity, intends to use all of the money coming into its care for the purposes of the charity. 

## _**Three step process**_ 

## **1. Mission Statement** 

The Circuit’s Mission Statement is “The Banbury Methodist Circuit encourages, enables and supports its churches to respond to God’s love in Christ in their communities, through worship, mission and service.” And was approved at the Circuit Meeting in September 2020. 

## **2. Financial plans** 

The circuit assessment is reviewed annually and is currently based on membership figures within the local churches. The budget for the current financial year has been set at £139,820. 

## **3. Reserves Policy** 

The total funds in hand at the opening of the current financial year were £522,348. This figure includes the Model Trust Fund balance. 

The Circuit must meet its financial obligations in relation to the support of its ministers, maintenance of the manses & disused Chapels and all costs of running the Circuit. 

The table below summarises the Circuit’s intended use of its total funds for the year 2020/21, amounting to £522,348 at 31 August 2020. 

(The funds available at 31 August 2019 were £467,818) 

|Reserves available:|£522,348|
|---|---|
|||
|General reserve to cover contingencies|112,098|
|Subsidytogeneral funds|25,000|
|Maintenance and decoratingManses|16,000|
|Development work|70,000|
|Disposal by sale of Middleton Cheney|15,000|
|LayEmployees|180,952|
|Middleton Cheneyrunningcosts|6,000|
|New technology|6,000|
|Training|7,000|
|Hinton Development Project|84,298|
|||
|TOTAL|£522,348|