Charlty regi5tra11on numbor 113S516 (England and Wa1$51 BEDE METHODIST CIRCUIT ANNUAL REPORT AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 BEDE METHODIST CIRCUIT CONTENTS Page Trustees, report Independent examinels report ststem6nt of finandal activ￿e$ Balance sheet 10 Notgs to the financial slatkwnents 11-22 BEDE METHODIST CIRCUIT TRUSTEES, REPORT FOR THE YEAR ENDED 31 AUGUST2025 Tha twst8as presenl their Bnnual report and finan￿81 statements for th& year ended 31 August 2025. The ffnancial slalements have been prepared in aetordartce wlth the a¢couiting policies set out in note 1 to the financial statements and compty with the ch8riWs goveming docurnenl. the Charities Act 2011, FRS 102 'The Financial Report4llg Standard applicable in the UK and Republc of Ireland. and the Charities SORP 'Accounting and Rewrling by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wllh the Fir)anclal Roporting Standard awicable in the UK and Republic of Ireland IFRS 102IIEffecllve 1 January 2019) Oble¢t1￿$ and aclvltl•s Th8 charity's objects are lo act as a Resourcé provider within Gateshead S¢xJth Tyneside and Sunderfand. The purposes of tho Melhodisl Church are and shall b& deemed lo hav8 been sinc8 th8 date of thg Unlon the advancement ot Th8 Christian Favch In aC￿rdan￿ wlh the docthnal standaftls and the discipline of the Methodist Church. Any charitable purpose for the time teing of any Connexional District orcuit k)cal or other organisatlon of the Methodist Church. Any charitable purpose for the time being of any sooety or institukn subsidiary or anallary lo the Methodist Church. Any purpos? for the ti￿e b8ing of any charity beirvJ a charity substdiary or ancAllary to the Methodist Church. The strategiès ampby8d to achièvé thé Car￿￿.8 aims and obi8Ctives are.. Organisalion and ￿0￿r¢In￿ of regular public aL#s of ¥￿￿hIp. open to members of the church and non-Mem￿rS alika. The leaching of Chrlslianty through somM)ns coursgs and small groups. Promotion of Christianity through the 51aging of events and SerW￿$. Providing financial granls lo a5SiSt circuit churches and a&sociate(I bodies. Publlc benefrt The trustees have paid due regarrj to guidance issued by the Charity Cornmi55ion in dociding what aclivllles the charity Should undertake. A¢hlgvements and p•rfomianc• During the year the churcries and ￿Tcult have (*)ntin(Jed to w￿IngS. The Trustees will look to hoki a review of organisab"on81 polcy and prorEdure with a view to attaining continued high standards of govemarce and management overthe organisation. BEDE METHODIST CIRCUIT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Structure. gov8rnan¢e and management Thè gcJv8rnlng docum8nt for thè arcuit is tha Dèèd of un.ion {19321 and thè Wthodist Cnurch Act11976I. Dèt8lled govemance arrangements a￿ ovlined wthin the Constitutional Piactice and Disopline of the Melhodlsl Church by order Df the annual M&thoUist Conference. Managing trusteeship and overall govemance responsibility rests with Ihe Circuil Meeting whKh meets al kas1 twice 8 ye8r. Day lo day m8n8gement of the circurf( is und8rtaken by the Superint8ndant Minister Circuit SIgw8rds 8nd Circuit Leadership Team in pathership WEth other officers and committees as appropriate. Fol&)wing the Iruslees. 81ralegy lo drive continued high standards in organisation81 manageme4t and gov8rnance, including Ibut not limited lol the obleclves of Fingnce manag8m8nt and Data Managèment, thè ￿lIc￿ saw thé crèallDn ol an Operations Manager. This posl has seNed to strengthen the day-to4ay govemance of L&)0 organlsatK)n. BEDE METHODIST CIRCUIT TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The Irustees who served during the year and up to tho dat6 of sKJnature of the finandal statements were,, Rey Jang Helen Carter William Georgtr Lee Rev Paul J Worsnop Jeanette Edwards lan Edwards John Stuart Phipps ElaSne Lawrenco Rev Matthew Thomas Sheard Susan Cassidy Mlamlankunzi Nkomo Dr Lynn Walgs Tr8w Wood Rev Huw Sperring Freda Isabelle Milburn R&v Deborah Walnwright Angela Bell Sheila Norman Brenda wallace Branda DDnaldson Linda Gaddes Rev Judith Winifred Oldroyd CScely RO￿nsOn Jean Poaco¢k Marie Hcimby David Patrick Paullne Dlxon Jean Lalimer Alan Pitchers Malcolm Glass Margaret Bell Keith Re3der Alan Bell Hilary Newman Péter Dènnis James Beal Irene Morgan David lan Milne June Burns Robert Simpson Judkth Anno Bissett Ann Rèdhèad Swvia Black Rev Cynthla Rosemary Hardiman Jacqueline Lloyd Elizabeth B&ll Roy Tllley Kalharine Mary Creswell Barbard Rowell B Tenda Coales Sheridan Dixon Dr Angela Helen Lishnan Davld Haygarth Cargl Jane Thompson BEDE METHODIST CIRCUIT TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 The trustees. report was approved by the Board of Trusle8S. Trustee BEDE METHODIST CIRCUIT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEDE METHODIST CIRCUIT I report lo the trustees on my èxamina￿0￿ of the financial statements of Bede Meth¢Ai51 Circutt lthe charity) for the year ended 31 August 2025. Rgsponslbillties and basi8 of report As the trustees of the charity you are resptsnsible for the preparabon of the fin8naal stralamenls in accordance with tha ￿quIrOm￿n1S of the Chartties Act 2011. I report In respect of my examination of the ch•1￿8 financlal gtslements carried out undpr section 145 of the Charities Act 2011. Ir) carrying out rny examination I have folbw8d the Directions given by the Charity Commission under sectlon 14515Kbl of the Charib'8sAct 2011. Independent examlnerfs statsment Since Ihg ch8rity's gross incomo excèèded £250,000. the indepgndent oxamlner must be a m8mb8r of a body listed in s8Ction 145 of thg chari￿es Act 2011. 1 confjmi that l am qJalifi8d lo undèrtake the examination because l am a member of the ASS￿latIOn of Charterecl Certffi8d AcxcAJntanls, whlth Lq one of the listed bodies. Your attentlon is drawn to the fact that thè tharity has prepared finanaal statemgnts In accordance wlth the relevant verS￿n of the Stal8menl of Recommended Practice applicable ID charities preparing their financial statements In acc4)rdance wlh the Financial R8p(*b"ng StsrKlard applcable in the UK and RepublG of Ireland IFRS 1021 in prefertrnce to the Accounting and R8pO￿ng by Charities.. Statement of Recommended Practice issued on 1 April 2005 whlcj) is referred to in the extant regulations bul has now been ￿thdraWn. l und&r8tand that thls has been don8 in order for thg finanLaal ststements to prowde a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have (Lmpl8t8d my axamlnation. I confirm that no matter5 have come to my attent￿￿ in conneclDn wlth th8 examination giving me cause to believe that in any matertal respecL' accounting records were not kept in respecl of the charity as fBquired by section 130 oftho Chadlies Act 2011. the financial statements do not accord with those re￿1￿5. Of the financial staternents do not comply with the applicabk requiremants conceming the form and conl?nt gf financial statements sel out in the Ch8rtiies IArLounts and ReFTh)rtsl Regulations 2008 olher than any requirement that the financial slalements gwe a true and fair Mew. whith is not a matter considered as part of an indep8ndenl examination. I have no ￿nGern$ and have come auoss no other matters in cnnnection with the examination to which attent￿)n should be drawn in this report in order to enable a proper understanding of the fina￿la1 ststements to be reached. Lesley Stabler BAIHons} FCCA RMT Aeeounlant5 & Bu51n95s Advisors Ltd Finchal• House Belmont Business Park Durham DH11TW Date.. (O ti) ￿ ¢Ji (Y) p 7J O qj Ln r 00 BEDE METHODIST CIRCUIT BALANCE SHEET ASAT31AUGUST2025 2025 2024 Notes Flxed assets Tangiblg assets Investments 14 15 702,CrtJ4 1,026,522 709,386 1,198,1t 1,728,526 1,￿7,472 Curront assets Debtors Cash at bank and in hand 71.197 121,339 31,950 154,481 192.536 186,431 Craditors: amounts falllng due within one yoar 18 193,825) (67.4761 Net current a886ts 98,711 118.955 Total a$$8ts19s5 current liabilitie5 1.827.237 2,Q26,427 Thg funds oflho charity Restricted income funds Unrestricted funds- general Unreslrbctgd funds- Grace plar 19 21 20 1.733.918 50,460 42,￿9 1,931,2& 41.277 53,905 1,827,237 2,026,427 The financial siatemenls were approved by the tsust8es on ......................... Trustee 10- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollcles Charlty ITrforn)atlon Bede Methodist CircJit was constituted by Deed of Unlon 11932) and the MethcMlSsl Church Act 11976) a8 amen(led by resolution dated 8 June 201 I. The Circuit was registered as a charity {registralion number 1135516} on 14 April 2010 havirKJ pre￿OUSlY been excapted from r￿..stration. Th8 Clrcull mgels the definllion of a public benefit entity under FRS 102. The Circuit Offi￿ 1$ kuted at Sl. Luke$ Methodist Church, Bum Hoads Road, H8bbum, Tyne and Wear NE31 2TD. 1.1 Basls of preparallon The financlal slalements havè been pr8pared In acix)rdance wth the charitys gDv8ming document, th8 Charities Act 2011, FRS 102 The Finan￿al R8porling Standard applicable in the UK and Republic of Ireland and the Charities SORP "Accth'nling and Repc*ting by Charities= SL*emenl of R￿QmMended Practic0 appllcable lo charilles preparing their accounts in accordance with the Financtal Reporting Stsndard applicable in the UK and Republic of Ir&land IFRS 1021.. The charity is a Public Benefit Entity as defingd by FRS 102. The Charity has takon advantsye of tho prowsions In the SORP for tharities not to prepare a statem¢nl of cash flows. The financial statements have departed Irom the Charibes IAccounts and Reports) Regulations 2008 only lo the extent required lo provide a true and fair v￿w. Thts deparhjre has involv8d following lh8 Statemgnl of Recommended Practice for charities applying FRS 102 rather than Ihe version of the Statement of Recommended Practice which r6 referred to in the Regulations bLrt whKJ) has since ￿en withdrawn. The financial slalements are prepared in sterling. which is the functional currency of tho charity. Monetary amounts in these finanaal statements are rounded to th8 nearest £1. The financi81 ststemenls have been prep3red under the historical (x)sl conventson. Imodified lo include the revaluation of freehold prOper￿0S and to include investsnent properties and wtain financial instruments al fair valuel. The principal accounting policies adopied are set b8k)w. The CiruJil has denominational regulatory oversight in respect of lh6 Ibrirk of the Churches wthin the Circult bul has no legal or operation control of those Churches and their governi￿ Ix>dies except in extreme circumstances. For this reason. the financial statements of Churches within Ihe Circuit arg nol consolidated into these financial statements. 1.2 Golng ¢on¢em At the tim2 of approving the linancial statements, the Irustees have a reasonab￿ expectation that thè charity has adequate resources to continue in operalk)nal existen￿ for the fowseeable future. Thus the trustees continue to adopt the goirKJ concern basis of am)bntin,g in prepaing th6 finan(ial State￿ents. 1.3 Charltablg fvnds Unreslricled funds are available lor us8 at thp discreti￿ of the Iwstees In furtherance of Iheir ch8ritable objectives. Reslrfcted funds are subject to specffic condttions by donors or grantors as to how they may be used. The purposes and u58S Df the restricted ftjnds are sel out in the noies lo the financial statements. Endowment funds are subject to specffiG {￿d[￿onS by donors that the capttal must be malntsinèd by the charity. 11 BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 AUGUST 2025 Accounting pollcies (Continued) 1.4 Incom8 Income InC￿Jd1n9 assessm&nt In￿me Is ￿(￿nised when th8 charty is legalty enlitl&d to it after any perfomiance conditions have b8en met. the amounts can be measured reliabw, and ￿ is probabl8 that income will be received. Cash donations are recognised 0.1 receipt. Othe.. donatitins are recognised On￿ the charrfcy has b8en notified of Ihg donation. unbss perfomiance condilons requlre deferrdl of thé amounl. Income tax rècoverable in relation to donations ￿e1Ve￿ under Grfl￿d or deeds of Lxjvenant is r&cognised at thg time of the donation. Grants ot a revenuo nature are credlted to income in the ￿riod to whloth they relat8. Capllal gmnts are recognised when there is ".easonable assurance that the e￿lity will comply with tha )nditions 8ltaching to the grant and that the gfdnt VAII bo r8c8ivgd. Such grants are initially Tecognised as dgferred incotlle and subsequentty released to income on a systematic basis over the useful economic life of the rela￿ 8ssel, in line wiLi the depreck4tion policy. Where grants are received in advance of meeting perfomiance ¢ondthns. they are induded with"'n crpAlttors. In accordance with the Charities SORP IFRS 1021. the time of volunteers rs not rècognised. 1.5 Expendlture Expenditure is recognised once Ih8re is a 18g81 or cL)nstructive obligation tr) transfer economic b8nèfft to third paty, it is p.￿bab]e that a transfèr of economic ber￿fits will be wuired in settkmpnt, and thg amount of the obligation can be measured rellably. Expend'iure is c￿sSthed by activ¢y. The costs of each aJMfy are made up of tho total of dlrect costs and shared costs. includir.g Sup￿ costs invofved in undgrtaking each acLivity. Direct costs attributablg lo a single activity are alocaleol directly lo that activity. Shared costs which contribute lo MO￿ than one aclTvity and support Costs which are not attrTbutabl8 to a singk aGtivity app(Kiioned betsyeen those activities on a basis congislent with the use of resources. Central staff costs are allocated on th8 bws of time spent, and deprecralion charges are alk)cated on the porL40n of the asset'5 use. 1.6 Tanglble flxed assets Tanglble fixed assets are inibalty measured at cost and sub5equenty measured al cnst Dr valuallon, net of depre￿atIOn and any impairment lass8S. Items of equipment are capitslised rf Ihey can bg used for r￿re than one year. and individually cost al least £1,DOO. Freehold prDperiy is included in the financial ststsments at identified values al Ihe time wh8n the prop8rtieB were purchased. of which tha land component is deemed to be £412,445. No deP￿claI￿)r￿ is provided on the building costs because the Irustees ￿nSIder the current residual fair value of both church manse buildings lo be not less than its currgnt value. Depreciation is recognised so as to wrrtg off the cost or vatuation of ass8L818ss Iheir rasldual values over their usefvl lives on the following bases.. Freehokl land and buildings Plant and equipment Fixiures and frttings No depreaation is provided Straight line over 5 years Straight line over 5 years 12- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 AGcountlng pollclos IContinugd} The galn or loss arising on the disposal of an ass81 is d&tem)ined as the differonc8 b8tW8en th8 sala pro¢eeds and the carrying value of the assgt, and is recognised in the statement of financi81 activitles. From time to lime the Circuit may be required to a&sume reswnsibilty for Church premises following dosure and cessation of worship. This results in the Clrcuil becornirig Managing Twsts8s for the property. A; that lirne thg property is recognised as an asset at its anti0pat￿ net sale pricE and after tsking into consideration Ihe layy lo be tharged by thè Conne￿0￿. 1.7 Fixed a8s8t Invostm•nts Fixed asset inv8slments are inrlialw measurod at transaction price exduding transaction costs, and are Subsequently rneasured al fair valu8 at 8ach ￿pOrtIng date. Changos in f8ir Value are r6cognlsed in net in￿)me1(eXpendl1Ur8I for the year. Transaction costs are expensed as I￿Urred. 1.8 Impalrment of fixed a$s•ts At each reportiro end date. the thaiTty reviews Ihe e£rrwng arTh)unls of its tangible assets lo determine whether there is any indication that those assets have suffered an impairrnent109g. If any such Indical.'on exists, the recoverable amount of the a55et is esb'mated in order to detemiirte the extent of the irnpairment loss lif any). 1.9 Cash and cash equlvalents Cash and cash gquivaEgnts indude cash in hand. deposits held at call th banks. other short-term liquid investments with original maturities of thr88 morths or kn. and bank overdrafts. Bank Dverdrafts are shown wllhin borrowings in Gunent liabilities. 1.10 Financlal Instruments The chaiity has efe¢ted lo apply Ihe provisions of Section 11 'Basi¢ Finanaal Instruments, and SeGtwJn 12 'Other Financial Inslruments Issues, of FRS 102 to all of its finanaal instwments. Finanual instruments are recognised in the chariVs balar￿e sheet when the charity bgcomes paty to the contractual provisions of the instrument. Finanrial assets and liabilibes are offset. wtih the net amounts presented in the financial stslements, when there is a legalty enforceable righl to s81 off the recognis8d amounts and there is an intention to settle Dn a nel basis or lo realise the asset and settlè the liabilty simukaneoU5￿. Basic financial assgts Baslc fina￿Cial assets, which Include debtors ￿ cash and bank balances, are inftialty measured at tr8ns8ction price including transaction costs are subsequently carried al amortised cost using thg effective nteresl method unless the arrangement constitutes a finan￿n9 tranSa&￿on, where the transactlon is measured al the presenl value of the future receipts discounted al a rnarket rale of inleosl. Finanaal assets das$￿ed as receivable wSlhln one year ar& not amortisèd. Baslc flnanclal Ilabllilles Baslc finan￿al liabllilles, IncludiT)g Cred￿Or9 and b8nk bans are initially rec￿g￿l88d al transaction pthce unless the arrangement Conslilutes a financing transaction, where the debt instrument is measuwl al the present value of th8 futur8 payments discountwj at a markèt rate of interesl. Flnandal liabilities classifiad as payable within one year ars not amorbsed. Debt instruments arp subsequenlly CArri@d at amortbsed LY)sL U￿ng the offective interest ralo method. Trade creditors are obfigabons lo pay for gcxmls or services that have been acquired in the ordinary Gours9 of operations from Supp￿$r8. Amounts payable are classtfjed as Gurrenl li4bilibes il payment is dJ8 within one year or less. If not, they are presented as nonwctjrrenl liabif..ties. Trade uedilors are recogni88d initially at transaction price and Subs￿￿entlY Measu￿ at aM0￿58d cost using the affective inl&rest meihod. 13- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng policies (Continuodl Derecognition oifinancial Ilabllldes Financlal liabilities are derecognised wthen the thartLYs oJntractU81 obligations explre Dr are discharged or canoglled. 1.11 Employeo ben8flts The cost of any unused holiday enthllemenl is recognised in the period in which the empbyee'5 5eNices are received. 1.12 VAT Slnce the cl￿11 is not VAT registéred, all input VAT i8 charged Ihe expenses to which it refers. Crltical accounting e8timale8 and Judgemants In the applicat'on of the charity's accounting pollues, the tnjstees are required to make judgements, ostimates and assurnplion5 about the carrying amounl of a55els and lialililies that are not readity appareni from other sources. The eslimales and associated assumpbons ar& based on histori(sl exp8r￿n¢0 and other faciors that ore considered lo be relevant. Actual res'Jlls may differ ftom these estimates. The estimates and underlying assumptions are rèv￿ on an ongoing basis. Revisions to acrnunting esb'mates are recognised in the p6ricd in which the estimale is revised where Ihe revision affects only that period, or in the period of the revision 8nd future peri(￿$ where the revksion affeols both current and future periods. Assgs$mgnt$ and TMCP Unre$trl¢ted Unrestricted nds funds general Graco pla¢e 2025 2025 Total Unrestricted Unrèstricted funds fund$ general Graco plac• 2024 2024 Total 2025 2024 Donalions Assessments on hurches Grants Connexlon and Distiict Church balance 4.518 4,518 306,200 3￿,200 16,000 12,000 263,021 2e3,021 16.000 12.000 37.500 43,500 8,953 8,953 306,200 32.518 338.718 277,974 37,500 315,474 14- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Income from Investments Unrestricted Reslrlcted funds funds 2025 2025 Total Unrnstr1ct￿ Réstrictèd funds funds 2024 2024 Total 2025 2024 Divldends receivad Interest receiv8ble 31 51,193 31 52,303 41 56,700 41 56,700 1,110 1,110 51,224 52,334 56,741 56,741 The main element of Inlewl recefvable shown above is £50.609 {2024 £53.7061 ari￿ng from moni&s hel4 in the TMCP Trustee5 Interest Fund. other Income Unro$trl¢tsd Rs$trl¢tsd funds funds 2025 2025 Total Unrestrictod Re5lrl¢ted funds funds 2024 2024 Total 2025 2024 Net gain on disposal of tangible fixed 8ssels Other income Capital rec&pls 1,055.177 1,055,177 7,￿7 155,￿0 612 612 {20,fX)O} {2D,O(M)I 7,907 155,000 612 {20,￿)0> (19.3881 7.907 1,210,177 1,218.084 The above net gains on disposal of tangib￿ fixed assets arose in 2024 from the sale of three previously Glosed Metht*isl Churches. Associated refated levies payable on the sale proceeds of such prope￿88 are included under Connexional le￿Y within Expenditsjre on C4aritaÉ)lè ActivitTrès. Cap(£al Receipts relate lo a reduclion in the ext>ecled sa￿S prC*￿IS fr)r KibN8SWtsrth Church Inat of an allowance for related costs of disposal). Compktrtin is expected around Autumn 2026- any variance between the August 2a25 book value and the actual amount will be a¢¢ounled for in the 2027 fin8ncial ybar. Expendlture on ra151ng funds Re$tri¢ted funds 2025 Restrfcted funds 2024 Inv8stm8nt management 3,889 15- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Expendlture on charltable actlvltles Charitable oblects 2025 Charltable oblecls 2024 Direct costs Depre¢ialion and impaimenl District assessment District levy Minlsler 811owances Lay worker5 Penslon Costs 471 150,832 111.5001 206,541 85,5e8 4,$45 259 110,037 390,348 169,442 76.117 4.096 L- ij Travel Telephone and postsge Training and Ix)oks Quinquennia Repairs Insurance, rent and utilities Council lax Sundry Shop costs- Grace Place Other charitable exp¢nditu 12,128 6.277 2.983 1.680 28,068 12,438 S,013 948 23,257 9,258 5.729 3.fj72 3,210 5,904 1e.397 6,367 388 18,890 5,000 533,349 825,114 Grant funding ol aclwities 24.016 6,752 Share of support and governan¢e Costs (S￿ n¢)t• 8) Support 9,675 14,050 567,040 845,916 Analysis by fund Unrestricted funds- general Unreslricled funds - Grats p5ace Restricted fvnds 425,n9 55,564 85,737 368,416 46,879 430.621 567.040 845.916 The above amounts for Conngxional Levy £111.5001. {2024 £390.3481 relate in 2025 to the reduction in th8 expected levy payable on the sale of the Kibbksworth cbsed church which has not yel sold at the balance sheet dale. In 2024. the levie5 ar05e on Ihe Sa￿ of 3 churches as well as the Èxpècted levy arising on the Kibblesworth closed church at the prewous balan￿ sheet dale. 16- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Support costs allocatsd to actmtlos 2025 2024 Lagal and prof8sslonal f88S AdministraLon cfj818 Accountancy Governance costs 2,640 879 3,756 2,400 9SO 3,560 1,140 8,4QO 9,675 14,050 Analysed between: Charitsble oL4e¢ts 9,675 14,050 Net movemnt In funds 2025 2024 The nel movement in bjnds is statgj after chargingl(creditingl: Fees payable for the independent examinallon of the charitys finanoal statsmonts Depreciation of owned tangible fixed assets Lossl{profitl on disposal (rf tangitrjle fixed assets 2,400 471 8,400 259 11,055,177) 10 Trust8os None of the trustees {or any persrms conner*ed wtrlh Ihem) r￿￿Ved any remun?ration or benefits from the charlly during the yaar or the prior yaar in their capaiuty as acting as tnJslg95. 11 Employees Tha avarag& monthty number of 8mrAoyae8 durlng the yèar was: 2025 Number 2024 Number Total Th&r6 wèr8 rto empkjyees whose annual remuneration was morè than £60,000. 17- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 AUGUST 2025 12 Galns and lossès on Invostments Restricted funds 2025 Re6tTiCted funds 2024 Galnslllosses) arising on- Ravaluauon of Investments 75 13 Taxatton The chadly Is exempl from laxab'on on tts activits&s b8caus8 all ris incom8 Is appli8d for d)aritab￿ pury)osès. 14 Tanglble flxed assets Fr¢ehokl land buiklings Dnt and Flthr85 and gqu*mont ffttings Yotal Cost At 1 September 2024 Additions Revaluation 708.210 1.415 709,625 1.609 (8.5001 1,609 {8,5(YJ) At 31 August 2025 699,710 1,415 1,609 702,734 Depreciation arKI impainngnt Al 1 September 2024 Depreci3tion charged in th8 year 259 283 259 471 At 31 August 2025 542 730 Carrying amount At 31 August 2025 699,710 873 1.421 702,004 At 31 August 2024 708.210 1.156 709.386 The Carrylng value of lar￿ included in laThl and bulbJiThJs cDmprises'. 2025 2024 Freehold 412.445 418.112 18- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 14 Tanglblo tlxed assets {Contlnuodl Churchas compris8 13 p￿￿rtIes, on& of which (Kibb￿SW0thI was awaiting disposal al 31 August 2025. following the last seNice being In August 2024. Addtb(k4aty. the cost of a one-third share in an additional Mglhodist Church is InGluded in the above figures. The v￿ue attributed lo Kibblesworth Church equal&s to £105.000 representing the gxpected sale proc8eds (net of an albwance lor r&lat8d costs of disrM)sat) less the expected related levy payabk. Completion is expected around Autumn 2026,. any variance between the August 2025 book value and the actual amount wll be accwnted for in th¢ 2027 finawal yeai. The rationa￿ for including Kibblesworth Churth in th8se financial statements at the above ¥a￿e is exFlained in the final paragraph of the Tangible fixed ass8ts accounth'ng polcy. Manses LX)mprise 4 residenb'al properties. 15 Fixod asset inv•stm8nts CFB Managed Mlx$d Fund Elizabeth TMCP Griggs Trustees Bequfrst Intsrest Fund Total Cost or valuation At 1 September 2024 Valuation changes Int6rest and divklonds Donations and grants pad Disposals 1,463 1.629 72 1.195,L)14 1,198,106 74 51.891 116,2521 207,2971 51.891 116.252} 1207,297} At 31 August 2025 1,465 1.701 1,023.356 1,026,522 Carrylng amount At 31 August 2025 1.465 1.701 1,023,356 1,026.522 At 31 August 2024 1.463 1.629 1,195,014 1,198.106 16 Debtor8 2025 2024 Amounts falllng due wlthln on4 year. Asse5smen15 due Prepaymer)ts and a¢(xued income 58.242 12.955 21,632 10,318 71,197 31,950 17 Loan$ Th8 Circuit currentty has no loans. 19- BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Credltors: amounts falllng due wlthln one y￿r 2025 2024 As5e5smenls in advance Other craditors Oth8r creditors Accrued expenses 56,646 24,535 54,871 3,065 9.540 12,644 93,825 67,476 Included abovè arè Assessments in advan￿. Such assossment monies received towards the end of each financial year rekte to assessmont monies due in respect of th8 following financial year. 19 R￿trICt•d funds The reslricled fu￿5 of the charity comprise the unexpenw balances of donation$ akKI grants httld on trust subject lo Sp￿Ific ciH)ditions by donors as to they rnay be used. At1 September 2024 Ineomlng Resour¢ès resour¢gs expended Transfers Galns and At 31 August 105ses 2025 Advance fund Benevolent Mission 1,918.381 6.460 189,626) 1139,0001 75 1.720.470 6,753 6.695 293 291 1.931.245 31,224 189,626) 1139.1XlOI 75 1,733,918 Prevlous year. A11 September 2023 Incoming resourcos Resources axpondgd Tran$f•rs Galns and At 31 August lo$$e$ 2024 Advance fund Advance fund arislng from PYA Benevolenl Mlssion 891.044 1.266.277 1430.621) {80,0￿) 1,646,700 271.681 6.138 6.085 271,681 6,460 6,404 322 319 1,174.948 1.266,918 1430,621) I80,0￿} 1,931,245 As perniitted by the Tules that gov8m th& TMCP Model Trusts, the release of ReslrFCted Funds against certain qualifying projects is allowed. During the year. the Trustees identified Ihere was qualifying expenditure in¢urr8d in r813tion to the Grace Place Drop in Centrè of £12.000 and within General Funds of £127,000. Therefore. transfers were madc to the aforemer.tioned funds. Detsils of thè purp(bsÈs of each fund are induded wthin the Trustees. Report. BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THEYEAR ENDED 31 AUGUST 2025 20 Unrastrlctod funds - Grace plac8 Thasé ara unrèstricted funds whith gre material to the charitys acbwlies. At1 Soptembgr 2024 kn¢omlng Resources resources •xpfrnded Transfers At 31 August 2025 Grace Place Drop in Centre s2.￿5 32.518 155,5641 12,LVJO 42,859 Prevlous yoar: Ati SOpl￿nber 2023 In¢omlng Rosour¢g5 r•sourc•s expended Tran5fors At 31 August 2024 Gmce Place Drop in Centrè 63.284 37.500 146,8791 53.905 AS permltted by the rules that govam the TMCP Mod81 T￿￿ts, the release of Restdcted Fund5 against certaln qualrfying projects is albwed. During the year. the Trustees identified therè was qualrfying expendituie Incurred in relat￿￿ to the Grao? Plac8 Drop in Cantre of £12,000 and tnis transfèr was made. 21 Unrestrlcted funds Tho unrostNclgd fvnds of ihe tharity cx)mprise the unexpend8d balan￿S of donatiDns and grants whlch arè not subjact to spacific conditions by donors and grdntors as to how they may be used. These include d8slgnatéd ftjnds whi¢h have been set asKle out of unrestn'cted tsjnds ty truslèos for swific purposes. A11 S•ptember 2024 Incoming royources Resources expended Transfers At 31 August 2025 Ggneral funds 41.2T/ 307.922 {425,739} 127,000 50,460 Prevlous yoar: At1 S•ptèmber 2023 Incomlng Rosourcès rgsources expondod Trnnsf8rs At 31 August 2024 General funds 43,812 285.881 1368.416) 80.000 41,277 As permilled by the rules Lhal govem the TMCP Model Trusts, the release of Restricted Funds against cértain qualfying projects is alk)wed. During the year, tb.e Trustees identif￿d there was qUalI￿ng expenditure incurred in relat￿n to the General Fund of £127.000 and this transferwas made. 21 BEDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 22 Analysls of nat assgts betwean funds Unrestricted Unre6trictsd funds funds genernl Grace place 2025 2025 R•strict•d funds Total 2025 2025 At 31 August 2025: Tangible assets Invostmen15 Current assetsJ{liabilitiesl 699.710 1.026.522 7.688 702,004 1,026,522 98.711 48.166 42.859 50.460 42,859 1,733.918 1,827,237 Unrestrlcled Unr¢strl¢tsd funds fund$ neral Grace place 2024 2024 Restrlct•d fund$ Total 2024 2024 At 31 August 2024.. Ta￿lble assets Investments Current assetsiifiabilities) 5.000 1.156 703,210 1.198.106 29.929 709.366 1,198.11 118,955 36.277 52.749 41,277 53,905 1,931,245 2,026,427 23 Related party transactions There wer9 no discbsabl8 r8lat8d paty transactions durirg the year12024- none). -22-