Annual Report of the West Cornwall Circuit 2023-2024 Introduction The West Cornwall Circuit includes congregations in, and local to, the towns of Penzance, St Ives and St Just. There are currently twelve Churches. Charity details Full Name of Charity: Registration Charity Number: 1135689 Date of registration: 27th April, 2010 Main communication address: Circuit Office, The Centre, Chywoone Hill, Newlyn, Penzance TR18 SAR The members of the West Cornwall Methodist Circuit meeting are the Charity Trustees, membership being made up of Circuit office holders, ministers and representatives appointed by the local Churches. Full membership is shown as Appendix A to this report. West Cornwall Methodist Circuit Circuit Ministers and officers Active Circuit Ministers Revd Ralph Ward Revd Edwin Myers (until 29th February 2024) Revd Matt Fugill (until 31* August 20241 Circuit Stewards Mr Jeremy Drew Mrs Nicola Jones Miss Karen Curnow Mrs Margaret Richards {until 12th November 2024) Mr Steve Canning (from 13th February 20241 Administrator.. Mrs Tania Bird Investment Bankers Central Finance Board of the Methodist Church Trustees for Methodist Church purposes Current Account Lloyds Bank plc, PO Box 1000 BXI ILT Independent Examiner Mr Kieron Stephens ACCA, AW Accountant5, Trevenson House, Pool, Redruth. TR15 3PT Solicitors Anthony Collins LLP Structure. Governance and Management The governing document for the Circuit is the Deed of Union (19321 and Methodist Church Act (1976).
Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference {CPD). The Circuit relies on the Connexional Team at Methodist Church House, 25 Tavistock Place, London WCIH 95F to provide guidance on changes that could affect the Circuit. Day to day management of the Circuit is undertaken by the Circuit Leadership team along with the Local Preachers, meeting. Aims and organisation The Circuit policy is to grow the Church through vibrant evangelical worship, contemporary outreach, creative fellowship and Spirit-filled servanthood, 50 that more people will commit themselves to Jesus Christ and become mature disciples. The Chariws objective is to act as a Resource provider for the. Methodist Church within the area around Penzance, St Just an'd St Ives. Our governing document, The Constitutional Practice and Discipline of the Methodist Church, state5 that: "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 d iscipline of The Methodist Church; bl Any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of The Methodist Church; c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church; d} Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church "The organisation and resourcing of regular public acts of worship open to members of the Church and non- members alike. The teaching of Christianity through sermons, courses and small groups. The resourcing of pastoral work including visiting the sick and bereaved. Taking religious assemblies in local schools. Promotion of Christianity through the staging of events and services. Provision of chapla incy services to the local university and other institutions, Brief financial review of the year Income trends Circuit income is primarily drawn from the assessment paid by the Circuit Churches, levied in proportion to their size.
There was rental income for the year relating to the former St Ives manse which was not needed for 5t3ff accommodation at that time. Subsequently, this Manse is due to be sold in 2025, The Manse in Newlyn is also rented out as that property is not currently needed either. Since the employment of a Circuit Property Officer in October 2024, the pending sale of a number of properties has come to fruition thus creating crucial income for the Circuit to continue its Mission. Expenditure trends Stipend expenditure has increased each financial year in line with Conference approved increases, based on rises in the cost of living, and the administratorfs salary is increased by the same percentage. 18% of expenditure is the Circuit contribution to the District annd Connexion, of which a significant part is used to fund the work of the wider Methodist Church. The other expenditure during 2023-2024 includes running costs for administration and travel, and the maintenance, insurance and professional inspection of our manses, closed chapel building5 and cemeteries. Fund balances As at 31 August 2024, the net current assets of the Circuit were £883,308 giving three years, cover for estimated expenditure. Plans for 202412025 and beyond It had not been possible to bring the possibility of the merger with the Isles of Scilly Circuit to the Circuit Trustees at the budget-setting meeting in May 2024, due to discussions and decisions needed at District level. The 2024/2025 budget, therefore, was prepared, with the view that there would be a full-time Superintendent Minister and a part- time administrator, Another figure, equating to the stipend of a Minister, was allocated in the budget with a view to this being divided between a part-time Property Officer and a part-time Pastoral Lay Worker. Money will be set aside for further maintenance and renovations of the manses, and maintenance of cemeteries. As stated in the Reserve5 Policy, money is also set aside to maintain buildings in the short term should they close for public worship. Future short-term staffing needs have also been allowed for. With the merger with the Isles of Scilly Circuit now approved, together with the merger of assets and liabilities, it is easier to plan ahead. Investment Policy To comply with Methodist Standing Order5, monies for long term investment are lodged with the Trustees for Methodist Church Purposes {TMCPI. TMCP acts as Custodian Trustee for all real estate held by Circuits, for all large lover £20,000) bequests and for the proceeds of sale of any property formerly owned by the Circuit. These sums are invested in unitised investmenis or held on deposit. The investment returns are close to tracking the movements in the FTSEIOO index. The deposit income mirrors the deposit rates available elsewhere. The Circuit's investment policy is aligned with that of the Central Finance Board of the Methodist Church {CFB} and TMCP because these organisations take into consideration the social, environmental and ethical considerations, both negatively and positively, that make investments suitable for the Methodist Church. Short term deposits are lodged directly with the CFB and attract good rates of interest. There are no benchmarks for the expected returns or appreciation on investments at TMCP and CFB. Reserves Policy The Reserves Policy for the Circuit 15 contained in Appendix B.
Basis of preparatlon and legal framework The Charity's annual report and accounts for the year ended 31 August 2024 have been prepared in accordance with the Charities Act 2011 and the Charities: Statement of Recommended Practice 2015 as applicable to the Financial Reporting Standard {FRS} 102. Public Benefit We confirm the trustees have had regard to the Charity Commission's guidance on public benefit. Related Partles The Circuit was part of the Cornwall and Isles of Scilly District up to 31M August 2024 and is now part of the South West Peninsula District. It continues to be accountable to the Methodist Conference. During 2023-2024 the following Methodist Churches were linked to the Circuit: Chapel Street (Penzance), Madron, Wesley Rock (Heamoor), Centenary {Newlyn), Trinity {Newlyn), Drift, Escalls, High Street (Penzance), Mousehole, St Buryan, Hellesveor, St Just, St Erth, and Carbis Bay Combined. Risk Management The major risks have been identified and recorded by the Circuit Leadership Team with professional advice taken as required. Income and Expenditure is being monitored in total and is compared with the approved annual budget to detect trends as part of the risk management process to avoid unforeseen calls on reserves. Safeguarding Every person has a value and dignity which comes directly from the creation of humans in God's own-image and likeness. Christians see this potential as fulfilled by God's re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm. Methodist Connexional practice outlines commitment to the following principles: The care and nurture of, and respectful pastoral ministry with, all children, young people and adults The Safeguarding and protection of all children, young people and adults when they are vulnerable The establishing of safe, caring communitie5 which provide a loving environment where there is informed vigilance as to the dangers of abuse. We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes.
We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation. We will seek to work with anyone who ha5 Suffered abuse, developing with them an appropriate ministry of informed pastoral care, We will seek to challenge any abuse of power, especially by anyone in a position of trust. We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our Church community known to have offended against a childi young person or vulnerable adult. In 311 these principles we will follow legislation, guidance and recognised good practice The West Cornwall Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy. Government Legislation, guidance and safe practice in the Circuit and in the Churches. The West Cornwall Circuit commits.itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear a nd confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable. Approved by the Circuit Trustees on 21>h Moy 2025. Appendix A Trustees of the West Cornwall Circuit Mr John Anderscn Ms Katherine Baxter luntil 13/2124) Mr Edward John Bennetts Mrs Mary Bennetts Mrs Catherine Bolitho Mrs Christine Blakey Mr Steve Canning (from 1312/241 Mrs Brenda Clarke luntil 19/51251 Miss Miriam Cox Miss Karen Curnow Mr Chri5 Dale (from 1312/241 Mr Jeremy Drew Mrs Elizabeth Eddy Mrs Phyllis Mary Eddy Rev Matthew Fugill {until 31/8/24) Mrs Christine Gendall (until 31/12/241 Mr Clive Harrold Mrs Jennifer Harrold Mr Peter Hanley (until 31/121241
Mi55 Doreen Hocking Mr5 Vivienne Hocking Mr Desmond Hosken Mr David Jackson (until 10/2/25) Mr Anthony Jasper Mrs Lisa Lavender Mrs Nicola Jones Mr Aston Key (from 1112/25} Revd Marion Lumbers Mrs Susan Major (until 31112/24) Mrs Jacqueline Meyers Mr Stuart Meyers Mr James Edwin Murley (from 18/9124> Rev Edwin Myers (until 29121241 Mrs Laura Newton Ms Alison N icholls (until 31112/24) Mrs Elaine Amanda Pearce Mrs Sylvia Pezzack Mrs Mary Prescott Mrs Bronwen Rowland Mrs Mai garD* Richards Mr Godfrey Stevens {until 13/2/241 Mrs Linda Jane Stevens Mrs Linda M Stevens {from 1312124) Mrs Jeanne Taylor Rev Ralph Ward
Circuit Accounts 2023-24 THE METHODIST CHURCH REPORT AND ACCOUNTS for the year ended 31 August 2024 West Cornwall Methodist Circuit Registered Charity - Registration number 1135689 Cornwall District No I Circuit No 12109 Ministers Revd Ralph Ward Revd Matthew Fugill lup to 31181241 Rgvd Edwin ers lu to 2912r24 Ciicuit stewards Mr Jeremy Drew Miss Karen Curnow Mrs Nicola Jones Mrs MargaTet Richards Mr Ste hen Cannin from 1312124 Circuit Treasurer Mrs Tania Bird
West Cotnwajl Methodist Urcuit Statement OF Financlal Artivilie5150FAJ for thè yearended 31 August 2024 Notes to the Unrestrirted accounts fvnds CMTF (Unrestricted) Designated Restricted Fund5 Funds Total 2023124 Toto1202¥23 Income and Endovmieftts from: Donatlons 10.000 10.OOD 7.399 Grants Charitable activitles Assessmerrts or share Other Othertradlng attlvities - Lettings Invertments Surplus on sale of fixed a55ets 172.528 172,528 4,384 165.619 32,4 10.912 31400 31,205 456,069 71W86 19.800 12.319 105 773 314974 20.293 456.069 220224 Expendlture on: Stipends, salaries, NIC & Pension costs District Assessment Methodist Church Fund Telephone & travel Insurance. utilities, etc MaSntenance on manses Expenditure on other Circuit property Other Expendlture Contrtbutions to Distrltt Advance Fund 118,871 118,871 7,685 30,695 6,012 12.095 9,726 12,891 12532 4,459 129,073 7,684 30,692 7.401 12,974 11,416 28,287 12267 1.649 30,695 6.012 11095 9,726 12.891 12.135 397 4.459 Total 211lllO 21465 244443 Net incornellexpenthiure rran5feTs belweeTr funds Sub Total Other recognised 8ains l (lassesl.. Gain51lLossesl on investment assets Net movement in fvnd5 10.114 481.506 491.620 70.531 ,1 481.506 491,620 74531 2,742 I26 2,742 494.362 464 70,995 481.506 Reconiillation of funds: Totsl funds brought forward Totsl funds wrled forward 1.545.287 1.558.143 139.179 1,684.466 2.178.828 1.613,471 1.684466 For informatlon only Money recelved and passed on to Extemal Or8anisallons Balance brought forward frorn last year Offerings/Gifts- reiVed for External Organisatlons OfferingslGifts- passed to External Organi5atlons Balance ¢arrled fonward
West Cornwall MetlK)dist Circuit Balance Sheet a5 at 31 August 2024 Unrestricted Clrcult Model Restrl¢ted De5i8nated Trust Fund Funds (unrestricted) Total 20231z4 Total 2022/23 Tanglble Fixed Assets Notes Land & Buildings io 1.295.520 1.295.520 1,295,520 1,295.520 1,295.520 1.295,520 Totolfixed assets Current Assets Debtors and Prepayments Other Trustees for Methodist Church Purposes deposits 12 13,550 13,550 12,747 li 40,325 620,685 661,010 175,577 Central Finance Board Deposits Cash at Bank and in hand Totol currenta55ets Creditors and Accrua15 (due in under l yr) 236,010 14,352 304.237 236,010 14,352 924.922 227, 784 12,457 428,565 13 41.614 41,614 39.619 Net current assets (liabilities) 262.623 620.685 883,308 Total a55etsless current liabilities i.S58.143 1178.828 1.684.466
West Cornwall MetIdISt Circuit Notes to the Accounts for the year ended 31.8.2024 l Basis of accounting The financial st8temeTrts have bEell prepared underthe Chartiies Art 2011 In accordan with the 2014 VErslon of Accountiog and Reportin8 by Ch•iltle5: statement of Flecommended Practl¢e ISORPI applicable to charltles preparfngiheir auounts in accordance with the Flnancial Reporting stand8rd for Sfflaller Entltles applicable In the UK leffeLtive from l January 20X51-the Charltles soRp IFR55EI- In replacernenttor the SORP's 2005 versiot) specified in its related 2008 Re8ulatlons and in accordan wtth the Iwe and fair oveFridd provlsion contaSned therein." 2 Funds The funds held constitute.. General Funds heldfor aTty purpose of the Clr(JJit which 3Te Ullre5tricted. The Circuif Model Trust Fund ha5 wide purpose5 d[ed In Standing Orders and15 cate8orlsed a5 unrestrirted. a Accountin8 policies Basis These accounts have been prepared on the ba5i5 of historical cost eKceptthat Investments are shovln at their m3rket value atthe end oftheyear, on the a(£wa15 ba51Sto show a true andfairvlew of the Ctrcurfsfinanclal position and actlvthe5. Income Re¢ognitio Income 15 included In the St8tement ol Financial Aciivrties ISOFAI when the Circult becomes entitled to the resour, and thetN¥ees are re350n8blv rtaln theywill receive the resouKÈs,' and the rnonetaryvalue car be meJwred with sufficient reliabilitv. Resouyces Expended This is reiogn15ed when a liability 15 illLIITred, or a Constructi obJigatEon aT15e5, that Ults In the p3ymÈnt boing unavoidablo. LiabiirÉie5 are recogTti5ed as sooTr 35 an outtlDw of economic benelst is consideied liketythan not under the legal or con5trurtiYo obligation comrntttlng the Cirojit to pay out resources. VAT Sincethe Circuit is not VAT registered. all inpui VAT 15 charged with the expense5 to whlch it refer5. Tanglbk fixed assets for use bythe Circuit These are c2pitalised rfthey can be used for niore than ope year, and individualty cost at least £i,oDo. Theffeehold property is 5howTr in the accounts èt 2011 deemed value5 or aaual purchase c05t. No deprec13tirJn is Pfovlded on the bulldlng because the tNsteos con51derthe current residual falrvalue of the manse bttlldlngs lon the assumption that 5t had reached the end of Its useful ecoftomrc lrfe by the yearéndl to be not less than it5 rrt value. Any depreciation would ntkt be material. The property has been rewewedfor impalrment. Investment Properties Investment properties- no property is curreiitly deemed to pot be held foithe long term purposes ofthe chartty- Investrnerrt5 Investments are valued in the balance 5heot at rnarket value al theyear end. IDvestrnent incoFne is induded the arcounts when receivable and any gain5 or losses on revaluatitsr atthe year entf are shown in the SOFA. Debtors and Prepayments Debtors relate to the payment of the September stipeTrd in August. asse55ments owik& and an Insuran refund due. Creditors and A¢cru•ls Accruals areforthe 1st quarter a55e55ment of 202412025 reNed in Augu5E 2024from the ciroJit thurd)es, and sorne expenses thjeto be pald.
West Cork?11 Methodlst Clrcult Notes to the A¢countsfor the year ended 31.8.2024 Unrestrknd ctyalt Model rrLI# FLuyI Donatlon5 Donafjor Total io,w) 10 io.(oJ iomo 7,399 7,399 5. Grant5 DlstrirtAdv3nce Fund DTstrirtAdvance Fund Total 6. Othertrathng atllvltl¢s Lettings Bedford Road Manse Lettings Manse 15.600 16,80D 314 15,60CI 15,6tkY 16,800 4.200 32ArM) 19800 7. lrtvellmenl Income Ce)tral Flnantp Board Trustees for PAethodi5t Church Purposes Totol 9.623 9,623 6,558 1.289 10,912 20,293 I193 21.582 5.761 31,205 IZ.319 8.PaymenttoTwes All of the Mlntslers are members ofthe Clrcuit meetlngand arearmTthngtyMana8lngTru5tee50f thecharRy, therefore 311 mneratIOn dclOSed in Note 9 h>5 been pald toTru5tees of the charitv. 2023 NumbÈroftFU5teeswh) were patd expenses EKpeTh5e payments prlmarfly relats to reirnbursemefit fortravel, statloThery and postaBes. Tot8lzmountp¥ld 621 9. payrnetOf 5tlpents Salaries. NICand Penslon Contrfbulions Staff Costspald durlnllthe yeaTwÈr•: Gross wages. saL3rle5 and allDwances Employerf5 3nal Insurance costs PEnsion cts Total Kaff r05ts 91,156 8,186 19.529 98.56B 8.774 21,73J AveA8e numberofstaff employed dun$therwere'. The is no accrualfor hollday payas it Is Immèterfol. All stèff are pald at or abovethe $Ing wage.
West Cornwall Methodist ClY¢uit Notes to the Accountsforthe year ended 31.8.2024 IOTangible Fixed Assets CostorValBon Planses Total Ba13Th br0u8htf0nard Addtt101I5 Revaluatlons Di%pD5a151- Balar¢ce Caryled fonvavd 1.29S.520 1,295,520 1,295.520 1 295,520 11 InVeSthnIS ThefuTrdsthat 5UPPOrt the Circur( Model Trust Fund hre held byTMCP in Tru5tee5 Interest Fund5 on which interest Is ryedited to the accounts each month. These are re8aided as medlurn and longterm Inve5trneTrts. TMCP ts the legal owner and Custodian Trustee of all Methodist Model Trust PToperty, 1ChJ5ng Legacie5. Edow[nets and Accumulated Fund5. Trust property 5 held for and behalf of local Managin8Tnt5tee5 who are responsibleforthe dayto day mar¥agernent of trust propÈry. TMCP e&suTe thèt, through providing 8uidan¢e and attiftg undertheir dirertioll, the Managin8Twstee5 complywith charity law and Methodist law and polrty as determined by the Methodist Conference.
West Cornwall Methodist Clrcuit Notes to the Accounts forthe year ended 31.8.2024 12. AJMlysis of current assets 2024 20 Oebtors and prepayments Pre paid stipellds Asse55ments due Refvnd Due Total debtor5 and prepayments 3,648 8.809 1,093 13,550 10,176 2,344 228 12,748 Analysis of tash at bank Bank balance held in Uoyd5TSB Bank balance held in Cept¥31 Finance Board T4rt81 Cash and Bank 14,352 236,010 250.362 12,457 227,784 240.241 13. Analysts of current Ilabllitte5 A55essmersts r1Ved in adw4ncÈ otherCreditOf5 Total Current LiaNltties 41.127 473 39.619 41,614 IQ Capital Commitrnents and Contingert ti3kn1ities At thè 31st August 2024 the Ctr¢uit had no c4pltal eomrnrtnts. {2023 copltttl commitments.) No Contingent liabilsties were identffied at 31st August 2024 or 3tst August 2023.
we5tcom11 I1101tt Plot8sts theA¢tountsfortt•y¢ar ended31A2024 IS. 1)etsiled anafy515 of Individuèl fund movernents Unrestrfrtd Fynds unln¢t¢ Openlng Fund N•me salan¢e Expendlthre Trattsfets £ Galn5llosses on aosin8 Balante £ In¥esknBnts Getseral CMTF Iunrestrlrtedl 1.558 143 620,685 139,179 4856 Tota15 214
DECLARATIONS Treasurer I confirm that these accrual based accounts forthe year ended 31 August 2024 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit Meetlng. Date 15.1.25 Signature of Circuit Treasurer Name of Circuit Treasurer Tania Bird Address clo The Circult Office, The Centre, ChwNoone Hill. Newlyn, Penzance. TR18 SAR Presentation to the Circult Meeting for approval. I confirm that the annual report and accounts for the year ended 31 Augtjst 2024 were presented to the Circuit Meeting at its meeting on . 3nd were approved. Signature of the Chair of the meeting Name of the Chair of the meeting Revd Ralph Ward Date 20. 5. 25 Independent Examinerfs Report to the Trustees of the West Cornwall Methodlst arcuit Thi5 Report is on the Clrcuit Accounts for the year ended 31 August 2024 Respective responsibilitie5 of Trustees and Examiner The Circuit'5 trustees are responsible for ensuring that the annual report and accounts for the year to 31 August 2024 present a true ond fair view of the Circuit's income and expenditure fof the year and of its assets and liabilities at the balance sheet date. The trustees consider that an audit 15 not necessary for this year under Sectlon 144 of the Charf(ies Act 2011 Ithe Charities Act) and that an independent examination is needed. It is my responsibility to.. exaTnine the accounts under sertion 145 of the Charities Act- to follow the procedures lold down in the general Dirertions given by the Charity Q)rnmission under Section 14515llbl of the Charities act,. and to state whether particular matters have come to my attentlon. * Pleuse delete or circle a5 appropriate
West Cornwall Methodist Circult Accounts foy the par ended 31st August 2024 Basis Ot lthp•ndent Ex•mines R•port My exaTh]ination wa5 carried out in aCcordanwith the gÈneral direttions given bythe chat1tycommSI0n. An examlnatio iftcludes a review of the accouniiDg record5 kept by the charityand a compartson of the attouDtS PTe5errted with those record5. It abo indudes consideration of anyunusual itern5, Ill Dature or5rale, or dtsclosures in the accounts. 5eekittE explanations from the TTUStee5 conrning such matters. The protodures undertaken do Trot provide all the evldencethat would be rewired in an audit and, collsequently no opinion 15 given èsto whetherthe accounts presont a true and fairview. My report L% limited to those Matte set out In the statement below. Independent Examlnerfs Statement In conneetlon with my examination, no matter has eome to my attention lother than as dlselosed below iii which 8iYes me reason3ble cause to believe that in any material respect the requirements- to keep accountlng records In accordance wlth Sectlon 130 of the CharitlES ACL to prepare accounts which accord with the accounting records and comply with the accounting quireMents of the Charitie5 A¢t have not been met, or 121 to whlch, In my oplnlon. attention should be dt7wn In order to enable a proper undèrstandin8 Df the accounts to be reached. 131 I have£ba4•obtained independent verificatlon of all investments wli h the TTUStee5 for Methodist church Purposes or held In other trusts, bank balanees and funds at the Central Finan Board of the Methodist Church which are Individually in excess of £lO,OCX) {ten thousand pounds) at the balanee sheet date. Name of independent examiner Signaturè of Independent examiner Relevant Profèssional qualification of ind ndent examlner c&- Address Oate
Appendix B RESERVES POLICY of West Cornwall Circuit Meetin General Funds held at yle 3110812024 £2,178,828 Restricted Funds held None Endowment Funds held None Reserves policy for Gener31 Funds General Funds as at 31" August 2024 Circuit Land and Buildings £1,295,520 Circuit Model Trust Funds and net general funds £883,308 Total: £2,178,828 Net Current Assets £883,308 Less: Monies being held in TMCP relating to Church Property £387,314 Sales (not Circuit Property) Six months, expenditure {otherthan payroll) £50,000 Twelve months, stipends and known salaries £70,314 District Advance Fund £37,801 Property Maintenance and Professional Fees £40,000 St Levan Chapel Roof £16,000 £601429 Surplus Balance of CMTF and general funds £281,879
Beyond current commitments listed above, the remaining £315,221 is held with a view to the future. Circuit Reserves have been used again this year to help fund the necessary expenditure. However. with less Staffing costs, this has been easier. Since 31" August, another Circuit property has been sold which has helped us plan for the future more confidently. More sale5 are planned for the remainder of 2025. From I" September 2025, we will merge with the Isles of Scilly Methodist Circuit and we will still need healthy reserves to help fund staffing and Mission work, and to lessen the burden on congregations. It remains a priority, therefore, for the Circuitto be actively progre55ing the sale of surplus properties to maintain its Mission in a relatively poor part of the country. Maintenance costs and professional fees relating to properties still in our possession are difficult to quantify. Our overall estimate is £40,000. In 2015, the Circuit received a grant of £16,000 from Historic England for roof repairs to the closed chapel at St Levan. Having 501d the buildingi we are no longer fulfilling the terms of the grant. It is not thoughtvery likelythat they will now ask for the moneyto be returned, but it remains a possibility. E16,000 is therefore held in reserve against that eventuality. Mindful of all of these concerns, we have decided that it is prudent to hold the remaining fund5 in reserve 50 that the Circuit can continue to fund staffing and ministry into the year 2025/2026, in whatever form this may take, and beyond. Approved by the West Cornwall Circuit Meeting on 20, May 2025. Signed". Mrs Tania Bird, Treasurer Revd Ralph Ward, Superintendent Minister and Chair of Trustees