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
214￿65
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
I2￿6
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- re￿iVed 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 MetI￿dISt 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 ￿rr￿￿t 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 re￿Ned 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
I￿193
21.582
5.761
31,205 IZ.319
8.PaymenttoTw*es
All of the Mlntslers are members ofthe Clrcuit meetlngand arearmTthngtyMana8lngTru5tee50f thecharRy,
therefore 311 ￿m￿neratIOn d￿clOSed 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. payrnet￿Of 5tlpents Salaries. NICand Penslon Contrfbulions
Staff Costspald durlnllthe yeaTwÈr•:
Gross wages. saL3rle5 and allDwances
Employerf5 ￿3￿nal Insurance costs
PEnsion c￿ts
Total Kaff r05ts
91,156
8,186
19.529
98.56B
8.774
21,73J
AveA8e numberofstaff employed du￿n$the￿rwere'.
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
CostorVal￿B￿on
Planses
Total
Ba13Th￿ br0u8htf0n￿ard
Addtt101I5
Revaluatlons
Di%pD5a151-
Balar¢ce Caryled fonvavd
1.29S.520
1,295,520
1,295.520
1 295,520
11 InVeSth￿nIS
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, 1￿ChJ￿5ng
Legacie5. E￿dow[ne￿ts 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 r￿1Ved 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 eomrnrtn￿￿ts. {2023 copltttl commitments.)
No Contingent liabilsties were identffied at 31st August 2024 or 3tst August 2023.

we5tcom￿￿11 I￿￿11￿01t￿￿t
Plot8sts theA¢tountsfortt•y¢ar ended31A2024
IS. 1)etsiled anafy515 of Individuèl fund movernents
Unrestrfrtd Fynds
unl￿n¢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•mine*s R•port
My exaTh]ination wa5 carried out in aCcordan￿with the gÈneral direttions given bythe chat1tycomm￿SI0n. 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 con￿rning 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