ChorLey & Leyland Methodist Circuit TRUSTEES'ANNUAL REPORT & ACCOUNTS For the year ending 31 August 2024 Registered Charity Number: 1135868 Circuit Number: 01108
Chorley & Leyiand Methodlst Clrcuit Trustees Report & Accounts for the Year Ending 31" August 2024 Contsnts Reference and Administrative Details Trustees. Annual Report Independent Examiners Report Statement of FinancialActivities B81ance Sheet Statement of Cash Flows Notes to the Financialstatements Pages 10-11 12 13 14 15-32 21Page
Chorley & Leyland Methodlst Clrcuit Trustees Report & Accounts for the Year Endlng 31" August 2024 Reference and Admlnlstrative Detalls Re istered Charity Name: Ch8rity Re istration Number: Methodist Clrcuit Number: Prlnciple Office: Chorley and Leyland Methodist Circuit 1155868 01108 16 Little Close. Leyland, PR26 6QU See Pa Sintons, The Cube, Barrack Road, N8wcastle upon Tyne, NE4 6DB Centr81 Finance Board of the Methodist Church, Methodlst Church House, 25 T8vlstock Place, London, WC1H9SF Clrcult Meetin Solicitors: Member (frustees} Investment Bankers: Tru8tee8 for Methodist Chuich Purposes, Central Building8, Oldham Street, Manchester, M1 1JQ Cooperative Bank PLC, PO Box 150. Skelmer8dale. WN8 6GG Peter E Gllkes & Co, 44 Market Street, Chorley, PR7 2SE Mrs J Ad8ms, 2 Stable Mew8, Millwood Close. Withnell Fold. Chorley, PR6 8AR Bankers: Property Advisors: Indeperident Examiner: 31Page
Chorley& Leyiand Methodlstclrcult Trustees Report & A¢¢ount8 for the Year Ending 3181 August 2024 Trustees Mlnisters Rev'd G McBride {Chairl Rev'd K Hilsden Rev'd H Millward Dcn E Monkwinstanley Rev M Wiffen (Associate} Ministers In OtherAppointments None Clrcuit Stewards Mrs B Frankish Mr D Keisall Mr T MeLling (Treasurer) Mr R Scott Ms L Taylor Mrs Y Taylor Mrs Cwroe Clrcult Secretary Mrs S Hamiliton (Appolnted 17107124} Local Preachers, Worshlp Leaders. Supernumery Ministers and Church Re resentatlves Mrs M Abel (Resigned Mr K Ashton Mrs M Bibby Mr A Blackledge 311081241 (Appointed 17109124} Mr K Brown Miss A Cupit IResigned (Appointed 17/091241 31108124 Mrs S Draper Mrs C Eccle5 IAppolnted (Resigned 311081241 171091241 Mr A Edge Mrs P Gerrard Mr S Hardacre Mrs L Heston Mrs R Brown IA ointed 171091241 Miss L Duckworth (Resigned 291101231 Mrj Flshwick Mrs M Harris (Resigned 101101231 Mrs J Horton Rev J Clasper (Reslgned 311081241 Mrs F Eccles (Resigned 311081241 Mr D Frost Mr T Harris (Resigned 101101231 Mrs C Hothersall IA pointed 171091241 Mrs N Klunder Rev A Mashiter Mr G Horton Mr C Howard Mr D Hulse Mrs R Malarkey Mrs C Hulse Mr D Marston (Appointed 171091241 Mrs H Molyneux IReslgned 311081241 Dcn S Nicholls Mrs Y Lancaster Mrs A Melling Mrs S Mercer Mrs R Moss (Resigned 31108124) Mr B Noon Mr C Naylor Mrs L Naylor Mrs J Owen (Resigned 31108124) Mrs S Ryding Mrs C Stafford Mr J Whittle Mrs K Owen Mr M Saunders Mr W Stafford Mrs P Ward Mr F Roblnson Mrs C Shapley Rev R Stubbing5 Mr F Ryding Mr L Shields Mrs C Tetlow 41Page
Chorley & Leyland Methodlst Clrcult Trustees Report & Accounts for the Year Endlng 31" August 2024 Trustees Annual Report for the Year Ended 3111 August 2024 The Trustees are pleased to present their annual reporttogetherwith the financial statements of the charityfor the year ending 30 May 2024. The financial statements comply with the Charities Act 2011. and Accounting and Reporting by Charities: Statementof Recommended Practice applicable to charities preparingtheir accounts in accordance withthe Financial Reporting Standard 8ppIIc8ble in the UK8nd Republic of Ireland (FRS 102) (effective 1 January 2019}. Objectives and Actlvltles Worshlp Public Worshlp, open to all without charge, remained one of the main activities where people engage with the church. All churches held regularsunday morningworship (some occasionally holdingtwo services on some Sundays and 8 couple held regular evening service). With just a few exception8, these are organised and led by preachers (often ministers) deployed by the circuit, but aided byothers such as stewards and musicians. Several united services were organised by the circuit across the churches. Local Churches organisetheir own special seniices and other events 8round the major festiV81s, especially Chrl8tmas and Easter and commemorations such as Remembrance Sunday. These are often occasions when people with limited connection with the Church were m8de especially welcome. A number of our churches have continued to offer messy church as an alternative form of worship. As part of the work with Sanctuary Seekers a Bible Study in Farsi continues to be held. Staffing Duringthe yearthe circuit continued to resource, support 8nd deploy paid staff (four ordained Ministers), 8 part-time Circuit Administrative Assistsnt (for part of the year), 8 full-time Pioneer Ministry Enabler, until December 2023 and many layvolunteers in work across the clrcuit and in the community. Followingthe curtailment of our previous Superintendent minister, Rev'd Gordon Gresswell due to111 health, we are thankful to Rev'ds GILI McBride, Helen MiLlward and Karen Hi18den who have now taken joint responsibilityforthe Circuit Superintendencyforthe foreseeable future. Also, to Rev'd's Helen Millward, Karen Hilsden, Martin Wiffen. and Dcn Ellen Monkwinstanleyfor taklng on the p8Stor8l responsibility for Rev'd Gordons churches. We continue to employ Kia Bland in the role of Layworker supporting both Midge Hall and Leyland Churches and have been pleased to see the continued growth in the outreach work being done in th8t are8, especielly with the Sanctuary seekers. We also give thanks to Naomi Parklnson and Sue Proctorfortemporarily supporting us In the Circuit Adminlstrator role during theyear. This allowed timefor discernment as to what was needed in terms of administr8tion support forthe Circuit and we are pleased to welcome Mich88l Brennan into the role of Governance, Compliance. Communication, and Property Officer with effect from 1" September 2024. The contract period forthe Pioneer Ministry Enabler role held byAndrew Kesiak ended on 31 December 2023 and we thank Andrewfor his workduring the fiveyears of the role and wish him wellforthe future. st 51Page
Choriey & Leyland Methodlst Clrcult Trustees Report & Accounts for the Year Ending 31" August 2024 Achievementg and Perfonnance Mlnlstry of all God•s People and Spiritual Growth Deacon Ellen Monk Winstanley has continued to develop Spiritual Growth ministry across the Circuit. Experiences have been offered for people across the Circuit to explore their faith and spiritualgrowth through exploringthe Faith and Mental Health Course, Bereavement RefLection Groups, The Divine He8rt of Darkne&% Retreatwith Cathy Bird, P8Storal Skills Treining and rnuch more. As we go forward. we are offering an Advent Bible Study across the Circuit linked through all the churches in Sundayworship. 8 PiLgrimage Retreatwith Jill Baker. a Lent Bible Study again across the Circuit, Dream Whispering- looking at our goals and dreams in tife. 8nd 8 Theology Book Club. Schools We have 4 Methodlst or Church of Engi8ndlMethodist Schools in our Clrcuit, servlng over 1.200 children and their families. We also have connections to many community schools where we h8ve been invited in to share Haniest, Baptism, Communion and to welcome these schools into our churches to share lessons around the church building. We offer regular RE support. worship. supportto 8t8ff and families and In church worship as we supi)ort schools as th8yf8ce the challenges of educating in today's world. We have continued our ministry of Open the Book In several schools. both falth school8 8nd community Schools. We have offered a Godly Play Oayand a John Wesley Llfepath dayto Schools thisyear and are currently planning more of these. We offer ongoSng support to Senior leadership and staff through Ofsted and SIAMS {St8tutory Inspectlon of Anglican & Methodist Schools) inspections. There have been sever8l of these thls year! We have also provided vital 8UPPOrt in the experlence of two of our schools in Leyland becoming an academy as well as in the Interviewing and 8ppointment of 8 new Executive Head Teacher. We also 8UPPOrted St John8 in Brinscallwlth their process for the appointment of a new Head Teacher. Regular ¢L8ss worship and whole schoolworship has been offered in church allowing children and their parents to experience worship together. We have also offered hospitality opportunities to the school around these worships in church. We offer regulai Messy Churches which meet both at school and at church. Ecumenlcal We continue to work ecumenicallywhere we can, and our Methodist Churches take an active role In the work ot Churches together in Leyland, ELlXton. 8nO Chorley. Outreach Outreach- As with many in the local community. several of our churches continue to re8pond in 8 Variety of ways in offering warm spaces. Local churches are openingtheir doors on a regular basls to creete community spaces where people are welcome, fed, end given space to socialise. respondingto the needs of isolation and loneliness. In addition, some of our churches are continuing to work with many Sanctuary Seeker8. offering support and ongoing suppLying of practlC81 needs, as weLi as 8dvocacywork. One of our churches has 8(so started 8 worship serrfice forthosewho are Neuro-Diverse which is becoming a place of help 8nd support. Our churches are constantlylookingforopportunities to move beyond the walis of the church to engage in with the community In newways. 61Page
Choriey & Leyland Methodlst Clrcult Trustees Report & Accounts for the Year Endlng 31" August 2024 Achievements and Performance cont. Governance The Circuit sought to be fully compliant with all aspects of Charity Commisslon requirements. especially in relation to the Safeguarding ot Children. Young People and Vulnerable Adults. The Circuit's Safeguarding Policy was renewed at the start of the year and all necessarytraining was undertaken by those post holders that the Methodist Church deems necess8ry. The Circuit coordin8t8s aspects of the work of Safeguarding within the Ioc81 churches. The Circult works closelywlth the District Safeguarding Officer, the Connexional Methodlst Church and Due Diligence Checking (DDC) for DBS checks. The Circuit acknowledge8 the importance of the General Data Protection Regulation8 IGDPR) and contlnues thet88k of ensuring all its practice8 and those of the Ioc81 churches are compllant wlth regulation8. Trustees for Methodist Church Purposes (TMCP) Ss the controller and responslble forgeneral d8ta protection issues arislng in respect of day to day matters. Property The Circuit, through the cIrcu Meetlng, acts as Managlng Trustees for circuit propety, whlch18 primarlly th8 m8nses provided as homes and worklng environments forthe ministerial staff. In addition, 8S 8 result of the academisetion of Leyland Infant & Junior Schoo18 With effectfrom 1st Aprll 2024the Circult a88umed re8pon8Iblllty as ManaglngTru8tee8 for both these propertle8. The redundant manse (James Place) in Coppull was sold In October 2023.ln December 2024 8 further twelve-month Ilcence to occupy the Arley Wood Drive manse was entered Snto wlth the existingtenant8. The Trustees continue to revlewthis to ensure best use of Charltyfunds. The former chape18 In Wlthnell Fold and Heskin tr8nsferred to become the responsibility of the Clrcult durlng the year and these were sold In December 2024 and March 2025 respectively. Please see Note 15 in the Financial Statements for more detsils. Flnanclal Rovlew Income for the Generel Fund for the year ended 318tAugu8t 2024 wa8 £331,346 (2023: £303,229) and expendlture £334,423 {2023; £350,900), resultlng In a deflclt before investment galns & losses of £13,077,12022: (£48,671)). The Circult ModelTru8t fund shows an Increase of £191.320, largelydue to th8 net $818 proceed8 of a former man8e8. The Impact on overall funds w88 zero as the c8rrylngvalu8 of these propertles was held In General Funds whlch Is then released in the'Recl888lfication of Funds, ISne on the Statement of Flnanclal Activitie8. Detalls of Income and expendlture on Designated and RestrictedlEndowment Funds can be found In Note8 23c & 24. Re8orveslRe88rve8 Pollcy As at 31 August 2024the total funds of the Circult were £2,178,320. of which £1,978,280 was heLd in propertie8, 8 further £39,188 in Designated & Restricted Funds and £498,882 in the CMTF held wlth TMCP. Thls leaves a total of £106,748 of 'free' reserve8 in the General Fund. The flrst call on these funds Is to coverthe operatlng expenses of the Circuit. Based on 8nnual budgeted operating expenditure for 2024-25 of £344,344, the Circuit currently holds unrestricted reserves equal to 3.72 months of expenditure. The Reserves Policy is to hold minimum sum equivalent to 6 months, average expendlture. The Trustees are comfortable wlth this positlon as the Trustees Interest Fund, held with TMCP, stands at £460,746 as at 31" August 2024. Whilst there are restrictions on the use of this fund it can be used for some specific operating costs, whlch 8re Included In the budgeted operatlngexpendlture. 71Page
Chortey & Leyland Methodlst Clrcutt Trustees Report & Accounts for the Year Endlng 31•1 August 2024 Golng Concern Following a review of the financial position atthe date of siEningth8se accounts and projections forthe following 12 months the Trustees considerthat the charity is a going concern. Structure, governance and management Governlng document The governingdocument forthe circuit is the Deed of Union (1932) and Methodlst Church Act (1976). Deteiled governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the Annual Conference (CPD). Govornance The Trustees meet three tlmes a yeer. Day to day management of the circuit is undertaken bythe Clrcult Leadership te8m. comprised of the MSni8ters and Clrcult Stewards Ilsted on Page 4 above.. Appolntment of Trustees Trustee8 ara appointed In accordancewiththe provisions of CPD Trustee Inductlon and Tralnlng A range of guidance produced by Methodist Connexion to support the effective running of the circuit, 8pecific8lly the leaflet'The Role of a Trustee in The Methodist Church, is given to all new Circuit meeting members as induction to their role 88 trustees. Related Partlos In addltion to the trustees who served during the ye81. the Tru8tees consider the following oiganisalions to be related parties for the purposes of disclosure of related party transactlons: The Circuit Is p8rt of the Lancashire District (with effectfrorn 111 September 2024 the North West England District) and is also 8ccountabLe to the Methodist Conference. The following Methodist Churches are linked to the circuit: Adlin ton United Reformedlmethodist Church Eccleston Methodist Church Leyland Methodist Church Spendmore Lane Methodist Church Chorley Methodist Church Euxton Methodist Church Hillside Methodist Church Midge Hall Methodist Church Whlttle-le-woods Methodist Chuwch Fundralslng stsndards The Charity doe8 not carry out any significant fundraising activities Reference and Admlnlstrathve Detalls Reference and administrative details are shown on Page 1 ofthis document. Trustees The Trustees who served the Charity during the period of the report are as shown on Page 2 of this report 8IPage
Choriey & Leyland Methodist Circuit Trustees Report & Accounts for the Year Endlng 31" August 2024 Trustees, Responslbllltles The trustees are responsible for preparingthe Twstees'Annual Report and the financi81 statements in accordance with applicable law and United Kingdom AccountingSt8ndards (United Kingdom Generally Accepted Accounting Practice). Comp8ry18w requires the trusteesto prepare financialstatements for each financialyear which give 8 true and falrview of the state of the affairs of the chailtsble company and the group and of the incoming resources and application of resources. includingthe income 8nd expenditure. of the charitsble group forthat period. In preparingthese financial Statements, the trustees are required to: select 8Uit8ble accounting poLicies and then applythem consistently; observe the methods and principles in the Charitles SORP: • make judgements and estimates th8t are reasonable and prudent: State whether applicable UK accounting standards have been followed, subject to any m8terlal departure disclosed and explained in the financi81 statements; and prepare the financial statements on the going concern basis unless it is inapproprlate to assume that the charitable company will continue in business. The tru8tee8 ale responsible for keeping proper accounting records that disclose wilh re8sonable accuracy at 8nytimethe flnancial position of the charitable company and enabLe them to ensurethatthe financial 8tatement8 complywith the Companies Act 2006. They are also responsiblefor s8fegu8idingthe assets otthe charitable company and the group and hence for taking re88on8ble 8tep8 forthe prevention and detection of fraud and other lrregui8ritie8. Insofar as the currenttrustees are aware, there 18 no relevant audit information of whlch the charitable company's auditor8 is unaw8r8; and • the trustees h8ve teken ail 8tep8 they ought to have taken to make themselves aware of any relevant audlt Infonnatlon and to estab118h thatthe auditor Is aware of that information. ApprOd by thoTru8tees on and slgned on It8 hAll by: Rev'd G McBrlde- Chalr Trustee 91Page
Choriey & Leyiand Methodlst Clrcutt Trustees Report & Accounts for the Year Endlng 31ffi August 2024 Chorley & Leyland Methodist CircuiL. No...01108 Declarations and Scrutiny I confirm that these accruals-based accounts for the yearto 31 August 2024 have been prepared from Ihe records of the Circuit and that they include all funds under Ihe control of the Circuit Meeting Slgnature of tr88surer.......................... lil El?) N8me and addres3 of treasurer. Tlmothy J M8Ulng. F.C.C.A. 18 Mlllwood CIo88. Wlthnell Fold. Chorley. PR6 8AR................ Pr•$ontatlon to tho Clrcult Maetlng I confirm that the annual report and accounts for the year ended 31 Augugt 2024 were presented to th8 Clrcult Meelln8on 12" March 2025........................... SS8nature of the Chair ol the meetin& RevG McBrlde........................... . Date:...... 12" March 2025........................ 10IPage
Chori•y & Leyiand Methodlst Clrcult Trustees Report & Accounts for the Year Endlng 31" August 2024 Independent Examlner's Report to the Trustees of the Clrcult. named above The Circuit's trustees are responsible lor ensuringthat the annual report and accounts for the ye8r to 31 August2024 present atrue and fairviewofthe Circuit's income and expenditure fortheye8rand of its assets and liabilitie$ 8t the balance sheet date. The trustees consider that an audit is not necessary for this year under section 144 of the Charities Act 2011 and that an independent examination is needed. It is my responsibility to: examine the accounts under section 145 of the Charities Act 2011 follow the procedures laid down in the genernl directions given by the Charity Commission under section 14515Xb) ol the Charities Acl 2011 state whether particular matters have come to my attention. Name of Circuit: Choriey& LeyLand.......... No: 01108 Basi8 of Indepandent Examlner's Report My examination was carried out in accordance with the general directions given by the Charity Commission. An examlnation includes a reviewofthe accountingrecords kept bythe charityand a comparison otthe accounts with those records. Italso inciudesconsideration of any unusual Items, In nature or $c8le, or dis¢lo$ure$ in the accounts. seeking explanations from the trustèes conc8ming such matters. The piocedures undertaken do not pro%ryde ali the evidence thatwould be required in an audit and, consequentty, no opinion is given as to whether the accounts present a true and fairview. My report Is limited to those matters set OLrt in the statement below. Independent Examiner's Statement In connection with my examination. no matter has come to my attention {otherthan 88 disclosed below") {11 thlch gives me reasonable cause to believe that In any material respect the raquirements to keep accounting records in accordance with section 130 of the Charities Act 2011 to prepare accounts which accord with the accountlng records and complywith the accounting requirements of the Charitiès Act 2011 have not bean met. or (2) to which. in my opinion. attention should be drawn in orderto enable a proper understsnding of the accounts to be reached. 13) I have not obtained independent verification of all investments with the Trustees for Methodist Church Purposes orheld in othertrusts. bank balances and lunds atthe Central Finance Board ot the Methodist Church which are individually in excess of £10.000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner:.. ... ............ .. Name of independent examiner: Jacqueline M Adams Relevant professional qualification of independent examiner. Nla Address: 2 St ble M ws. Mlllwood Close, Withnell Fold. Choriey. PR6 8AR Date: 11.T.........14aag 111Page
Chorley & Leyland Methodlst Clrcult Trustees Report & Accounts tor the Year Endlng 31 August 2024 ststement of Flnancial Actlvltles (SOFA) for the year ended 31 August 2024 - Es Unrtstrl¢t F¥rtds Ne General Fund c1ul1 Model Trust Fd Desl8nat¢d Fund5 Re5trf¢d & Endowment Funds Totsl 2023Q4 T4xal 2022.23 Income and Endowments Oonatlons and legacles Income from monetary Investments Income from investment propertles Assessmenis on Churches 25 25 637 22.463 233 23,333 22,616 290,869 238J02 6.100 22,616 290.869 3OON84 609,001 12,255 103 Capital Recelpts Grants Ceived Other charltable a¢tlvltles 238.302 Total from Charllable A¢tlvllls 314147 260,765 575.145 927W3 346 Other income 7,199 1,328 8,527 Total thwmè and Endowments 260,765 583hn Expendlture Grants and donations Salarles and a5s0clated costs 2,117 205,537 33.738 77.203 1.470 15,335 20 3.607 220,873 33.738 87.175 4.537 261,334 31,062 88.919 Propertv Dlstrkt Assessment & Lewy Depreciation Office expenses Other outgoin85 .Total thorltsble Expendllure 14,317 14.3451 2,209 13,619 877 3,092 15.794 3,346 22,775 101 15J93 L557 619 14024 411?74 Net In¢omlng Re50Urtes l(Resour¢ Expended before Inveslmert Galns IILo$6¢s) 113m71 245J71 1140241 922 9391 516J16 Gainlllossl monetary investments Gainlllossl Investment properties & manses Reclassiflcatlon of Fund5 2.581 2,581 11.6611 154,571) {609,001) 1148,918) 405016 1187,0221 205.717 405.816 (187.0221 Net IncomellExpendllure) Transfers between funds 922 58.867 156,8321 12,0351 Other 8alnslllossesl Net Mwem¢nt In Funds 264584 194320 307,562 922 440,767 1148.918) IA86,470 Total funds brought fon¥ard less Loans Repald add back Future Instalments of Grants 1.375,667 35,527 18,797 L737,552 Grant Instalment Provlslons Released Trt41 Fund$ Carrled Fonydrd 1.64Q250 498082 1178.320 121Page
Chorley & Leyland Methodist Circuit Trustees Report & Accounts forthe Year Ending 31" August 2024 Balance Sheet as at 31 August 2024- £s Unrestrirted Funds Note No. General Fund Circuit Model Trust Fund Designated Funds Restricted & Endowment Funds Totals 2024 Totals 2023 Flxed Assets Circuit M3nses & Equipment 17 a-d 1,127.686 1.127.686 1,127.686 Investment propertie5 17 a-d 405,816 405,816 187.022 Investments 18 38.136 38,136 35.555 Total Flxed Assets 1,533502 38.ia6 L571,638 1.350,263 Current Assèts Debtors 19 24.313 101 24,313 21.998 Loan5 by the Circuit Investments with TMCP 20 99.870 99.870 91,000 21 21 460.746 460.746 272,006 Central Finance Board Dep051t5 Cash at 8ank and in hand 7.369 4,690 12.059 24,874 21 72.474 12,100 15.030 99.603 56.577 Total Cuffent Assets 196,657 460.746 19.468 19,720 696,591 466,455 Current Ilab511ties Creditors (due in under I yearl Grants payable within l year Total Current Liabilities 22 89,909 89,909 79.166 89,909 79.166 Net Current Asset5/Liabilitie5 106,748 460,746 19.468 19.720 606,682 387,289 Total Assets less Current Llabllities 1,640250 498A82 19,468 19.720 2.178.320 1.737,552 Long term Ilabllities (due after more than one year) Grants payable after l year Loans to the Circuit Net Assets 1.640.250 498.882 19,468 19.720 2,178.320 1,737,552 Funds of the Clrtult General Fund 23a125 23b125 1.640.250 1.640.250 498.882 19.468 1,375,667 307,562 35,527 Circuit Model Trust Fund 498.882 1 Designated Funds 23c125 19.468 Totsl Unrestrirted Funds 2,158.600 1.718.755 Restricted & Endowment Fund5 24125 19.720 19,720 18.797 Totsl Funds 1.640.250 498.882 19.468 19.720 2.178.320 1.737,552 131Page
Chorley & Leyland Methodlst Clrcuit Trustees Roport & Accounts ft>r the Year Endlng 31" August 2024 Cash Flow Statement for the year ended 31 August 2024 2024 Z023 Cash from operating artlvltles Net cash used in operating activities 127,492) (137,921) Cash flows from investlng activities Dividends, interest and rents from investments Proceeds from the sale of property, plant and equlpment Purchase of property, plant and equipment TMCP Charges & Levies Net cash provided by investlng activities 23,333 238,302 6,100 609,001 115,194) 246,441 (3,2461 611.856 Cash flows from financing activities Loans Granted New borrowing Repayments of borrowing Interest Paid Net cash used in flnancing artivitles 1379,2061 11,9851 (381,1911 Change In cash and cash equlvalents in the reporting perlod Cash and cash equivalents at the beginnin of the reporting eriod Cash and cash equivalents at the end of the reportlng perfod 218,950 353,457 572,408 92,744 260,714 353,457 Reconclllatlon of net income to net cash flow from operatlng activities 2024 2023 Net Income for the reporting period ( as per statement of financlal actlvftles) Adjustments for: Profit on the Sale of fixed assets Closed Churches Transferred In Loss on the sale of fixed assets Losses on investments Dividends, interest and rents from investment5 TMCP Charges & Levies Interest Paid lincrease)/decrease in debtors Increase/(decrease} in cdItorS Net tash used Fn operatlng activities 440,767 1148,918) 151,2801 1405,816) (7,065) 61,636 1,661 16,1001 3,246 1,985 3,121 147.4871 1137.921) 12,5811 123,333) 15,194 (o) 111.1861 10,743 (27.492) Analysis of cash and cash equlvalents Cash in hand Short term deposit (less than 3 months) Total cash and cash equlvalents 99,603 472,804 572.408 56,577 296,881 353,457 141Page
Chorley & Layland Methodl8t Clrcuit Trugteos Report & Accounts for the Year Ending 31" August 2024 Notes to the Financlal Statements for the year ended 31'Augu8t 2024 1) Bagls of Accountlngand Accountlng Pollcies a) Accountlng Standard The financlal statements have been prepared in accordance with AccountingandReportingby Charities.. Statement olRecommended Pr8Ctice (SORP) applicable to charities preparing their accounts in accordance with the Hnancial Reporting standard applicable in the UK and Republlc of Ireland IFRS102), effeclive from 1 January 2015. (Charities SORP {FRS102)). b) Publlc Benefft Entlty The Chorley & Leyland Methodist Circuil meets the definltlon of a public beneflt entity under FRS 102. Assets and li8bilities are initially recognised at historical cost ortransactlon value unle88 olh8fwlse stated in the relevant accounting policy note{s) below. 0) 8a618 These accounts have been prepared on the bas18 of hi$torlc8l cost except that the Investments are Shown at their market value at th8 end otthe year. The accruals basis has been used and the Trustee$ present accounts that show a true and f8ir view of the Clrcuit's fin8n¢i81 position and activitie8. d) Contsnt The tlnanclal informatlon presented is relevant. reliable. comparable and complete. Where estlmates are used these aro based on experlence. research and Judgement. The accounts are expressed In £sterling, rounded to the nearest pound. e) Golngconcorn Based on the monetary assets and human resources avalL8bie at 31 August 2023, the trustees believe thatthe Circult is a goingconcem. t) Con8olldatlon The Clrcult hasdenomln8tlonal regulatoryoversight in respect ofthework ofthe Churches withln the Clrcult but has no legal or oper8tion81 control of those Churches and their governing bodi88 except in extreme circumstances. For this reason. the financial stalements of the Churches wlthln the Clrcult are not consolid8ted into these financial 8tatements. The incorne and expendlture relatlngto the Women's Net*vork- Chorley & Leyland Circuit are consolidated into these fln8nci81 statements as thls group does fall withln the overall governance of the Trustee8. g) Income Reco8nltlon Income18 brought into acc¢nt when there Is entltlement and the amount 18 rèliably measurable once It18 more Ilkelyth8n not thatthe economlc benellt of the Income will be forthcomlng. Indlvidual amounts categorised a3 Other Income in the SOFA will be shown separately il they are consldered material. The Circuit acts as agent in three matters: The collection from Churches and payment over of their contrfbutlons to varlous Funds controlled and administered by The Methodist Church. known as 'Connexlonal Funds,. The administration (application. collectioTr and disbursement) of grants requested by Churches within the Circuit from, but not lirnited to. the District and Connexional. The collection from Churche5 and payment over of their contributlon5 to the Circuit nominated 'Charity of the Year., 151P8ge
Chorley & Leyland Methodlst Clrcult Trustees Report & Accounts tor the Year Endlng 31" August 2024 Notes to the Flnanclal Statements forthe year ended 31'August 2024 In all these matters th8 transactions are not reflected in the SOFA b8cause they are ihe Income of either the Conn8xion or the Churches 85 approprlate. Instead, the transactlons 8re di8clo8ed in the Notes to the Accounts as required bySORPIFRS1021, module 19.12 In accordance with the CharltSes SORP IFRS 1021 the tlme ofvolunteers Is not recognised. Further information on thls matter 18 provided in the Trustees Annual R8POrt. Ifgood$ are donated, a value WIU be shown In the SOFAor Noteswhere the value Isconsldered materlal. h) Expendlture Expenditure Is reco8nlsed when a118bility is incurred, or a constructlve obligatlon arlses, where the amount 1$ rellably measurable and It Is consldered more Ilkely than not that there will be an outflow of economic beneflt. l) Grants Grants made bythe Clrcuit from Itsown lunds are recognlsed In full 8t the tlme of agreem8ntto make 8 grantwlthout performance conditlons oras and when the Circuit accepts that there18 8 legal or op8r8tion8 obligation to make the payment if It18 sublect lo performance ¢ondltlon8. When the grant to be accrued18 recurrent over more than oneyear, the b818nce payable In future years, dlscounted to net present value where the dlfference 1$ m8terlal.18 treated as a provlslon lor future commltments In the balance sheet against ihe appropriate fund. The provl8lon Is then released In future years In 8¢cordance wlth the orlglnally agreed terms. Any future payment provl$lon18 applled to the fund from whlch the grant wlll be ultlmately be pald J) VAT As the Clrcult Is not VAT reglstered, 811 Input VAT 18 charged wlth the expen888 to whlch It refers. k) Tanglble Flxed A$••t8 These are capltallsed If they can be used for more than one year, and Indlvldually cost at least £1,000. Freehold property owned as at 31st August 2015 Is shown In the accounts at 2015 deemed values based on insured amounts. Property acqulred after that datels shown at cost. No depreclatlon Is provlded because the Trustees conslder the current resldual value of the propertles In thelr present condltion to be not le55 than thelr h15torlcal cost and, In the absence of any materlal impairment, any deprecation provision for the bulldin8 component of the propertles would be Immaterial. From time to time the Circuit may be requlred to assume responslbillty for Church premises following closure and cessatlon of worshlp. Thls results In the Clrcult becoming Managing Trustees for the property. At the tlme the property Is recognlsed as an asset at its antlclpated net sale proceeds as determlned by a professlonal valuatlon and after taking into consideration the levy to be charged by the Connexion. Any expenditure of such assets, that Is likely to enhance sale value,15 capltalised at the tlme the expenditure is incurred. Manses which are no longer required and subsequently offered for sale are revalued at its anticipated net sale proceeds as determlned by a professional valuatlon and after taking into consideration, disposal costs and the levy to be char8ed by the Connexion. 161Page
Choriey & Loyland Methodlst Clrcuit Trustees Report & Accounts forthe Year Endlng 31" August 2024 Notes to the Flnanclal Ststements for the year ended 31'August 2024 Basls of Accountlng and Accountlng Pollcles cort. l) Monetsry Imiestments The Circuit's investments are in monetary assets classified as basic financial instruments under FRS102, and are held by the Trustees for Methodist Church Purposes l°TMCP") as custodian trustees. The valuations. at market value. a those provided by TMCP. The unreaiised gains or losses arisingon investmentsatthe end oftheyearare shown inthe SOFA and in Note 16 below. m) Investment Property From time to time the Circuit rnay hold residentl81 property Ifonnally manses) 18 either surplus to its normal staffing requirements or is not currently required due to different liifjng arrangements for one or more of the presbyters. Where this is the case and it is anticipated that the property is unlikely to be used as a manse within a period of two years. the property is classified as Investment Property (whether let out or not). Any letting arrangements are at market rates unless there is a compelling reason not to do so in furtherance of the Circuit's charitsble objective n) Recelvables and Payables: Bank and Cash (Basic F5n8nclal Instruments) Debtors are stated at the amounts owed to the Circuit or prepaid. Creditors are initially r8CO8ni8ed at settlement amount after any trade discounts, where normal credit terms apply. Subsequently creditois that are current tiabilities are measured at the cash or otherconsideration expected to be paid. The 'qUid funds of bank balances and deposit fund balances are shthvn at their realisable values. o) Funds The trustees have adopted a policyfor au unrestricted reserves which ig to malntain a minimum ot Six months cover for Operating Expenses together with specilic designated funds for Major Manse Repairs and Ministers Removal Costs. Furtherdetaiis can be found in Note 24 p) Mlnlsters Manse Costs The Circuit is required to provide 8ccommodation for each minister in the Circult and their families, and this is seen as a benefit to the Circuit. Ministers are expected to occupy the manse provided for them. The Circuit bearsthe costof repairs, maint8nance. buildings insurdnce. coun¢iltax and water charges. These figures are not separately disclosed as benefits in kind as HMRC does not seek to tax these receipts in the hands of the ministers. 171Page
Choriey & Loyland Methodl8t Clrcuft Trustees Report & Accounts for the Year Endlng 31•1 August 2024 Notes to the Flnanclal Statements forthe year ended 31•August 2024 2) GIo88ary of Terms CFB: Central Flnance Board of the Methodlst Church- manages a Common Deposlt Fund and a series of pooled ImEstment funds for M8thodist entitle8 In Great Britain. and provldes Investment advice to those entities. Church: 8 group of memb8rsfrom fewerthan 10t0 more than 300. Clrcult: a group of Methodist Churches near each other. typically between 10 and 30. Clrcult Leader8hlp Team (CLT): a 8roup (comprising mo$tty. but not exclusrvoty) of Clrcult trustees responsible for the day admlnistration and policy formulation ol the Circuit. Generally, the CLT comprlses the Presbyters and D8acons stationed within the Circuit. together wlth the Clrcult Stewards, ol which the Circuit Treasurer 1$ one. Clrcult Moetln$ The Trustèes of the Circult. most of whom are appolnted ty their local Churches and others by virtue of a role they undertake fof the Circuit andlor their local Chur¢h88. Connoxlon: The Methodlst Church in Great Britain whlch Include$ the Head Offlce al Methodlst Church House. 811 Methodist Distrfcts, Cir¢uiiS and Churches. Connoxlonal Funds: The Designated andlor Restricted Funds held and admlnistered by the Connexlon In lurtheran¢e of It charitable and mission oblectives. 018trlct: a group ol contiguous circults Usually bewn 15 and 30. FAS: Flnanclal Reporting Standard. . Full time equlvalent. Used in the expresslon of staffing lthis when not all staff are employed on a full-tlme ba81$. HMRC. Her Majesty's Revenue & Customs Lay Empioyoe8: Personnel employed by the Church on generally accepted commercial employment temis. Manso: Accommodation provSded by the Circuit for the Pre$byt¢rs for the perlod that they are statloned within the circuit MMPS: Methodist Mlnisters, Pension Scheme PASLEMC: Penslons and Asyurance Scheme for Lay employee8 of the Methodist Church Pro8bytern: Probationer or Ordalned Methodist Ministers 8ndlor Deacon8 who have p88toral and admlnl8tr8tlve responsibility for the Churches wlthin the Circult Qulnquonnlal Report: a report prepared every five years by an archltect or qu811fle(I bulldlng surveyor on each manse and church within the Circuil outlining (in priority order any maior repairs needed to the building SOFA: Statement of Finan¢lal Activities. SORP: Statement of Recommended Praclicè. TMCP: Trustees for Methodist Church Purposes, the legal ovmer and Custodian TnJstee of all Methodist ModelTrust property, including Legacies, Endowments and Accumulated Fund$ 181Page
Chorley & Leyland Methodlst Circuit Trustees Report & Aeeounts for the Year Endlng 31" August 2024 Notes to the Financial Statements for the year ended 31'August 2024 3) Income from Investment Propertles General Fund 202>24 2022-23 Former Manse- Arley Wood Dr6ve aosed Church- Heskin 12,616 10.000 Totsl 22,616 The former manse situated in Ariey Wood Drive, Chorleywas designated as an Investment Propety and following an options appraisal the Trustees decided that It was in the best Interests of the Circuit to rent the property. and as a result a 12 month licence was entered on 27" December 2023. As a result of the transfer to the Circuit ol Heskin Methodlst Church. a Ilcence was issued to Nature Trall nursery. Letting income 1$ shown gr0$80ffees and commlssions whlch are accounted ft)r in Prop8rtyExpenses (see Note 10b). 4) Assessments on Churches Genernl Fund 202>24 2022-23 Adlington Chorley Methodlst Eccleston 4,205 42.024 19.025 28.721 48,238 21.228 27,591 Euxton Hillslde 41.030 83.064 48,977 83,968 Leyland Methodlst Mld8e Hall Spendmore Lane Whittle 41,530 21.012 10.258 33,775 22.381 12.427 300084 Totsl 290.869 The Clrcult comprlses 9 churches {2023: 9) and each is assessed fora contrlbution to meet a proportion of the net operating costs of the Circuit. The calculation is based on the budget for the year and asse8sed based on ordained and layworker time allocated. Due to the curtailment of our previous superintendent minister delays in the recruitment of a budgeted lay worker the Trustees approved a r8bate of 9.7%. In 2022-23 a rebate of 4% was given as a result in delays in recruitment of a lay worker. 191PaEe
Chorley & Leyiand MethodSst Clrcuit Trustees Report & Accounts for the Year Endlng 31" August 2024 Notes to the Flnanclal Statements for the year ended 31'August 2024 S) Capftal Recelpts attull Madel Trust Fund Totsl 202>24 Jame5 Totsl 2022. 23 Gross Sale preedS 279.730 133.4821 13.4481 11.0971 13.2401 11621 279.730 133.4821 13.4481 IL0971 13.2401 162 715.000 189.1461 19.0311 11.7681 15,8801 11741 609Al CPF Lewi Seillng Agent Fees Surveyors Fees Lelal Fees Other Fees N•t Sles prodi 238J02 Thè former man88 8t James Place. Coppull was sold in October 2023 yieldlng net sales proceeds ol £238.302. In 2023 two lormer rnan889 were sold yleldlng next 88le8 proceeds of £609,001. 6) Grantj Rec•lved No grants were recelved in the year. In 2023 8rants totalling £12.225 were wecelved in the year12022: £10,927), prlmarlly from the L8ncashlre Dlstrfct lor lundingfor the Pioneer Mlnlstry Enabler post. 7) Other Incomé Gen•r•l Fund awjft Model TnMI Fund D•inate d Funth Total 2023.24 Totsl End¢)wmen t Funds Trf In- W Fold & Heskln Renial Income. Nursery Other 4589 2.610 4.589 2.610 1,328 8,527 1.328 50 T¢Jtsl 1328 Other 5ncome totawng £8,527 was received in the ye8r (2023: £50), Fund8 transferred in from the two cI08ed churches totgued E4.589. and followlng the Academi88tion of Leyiand Infant and Junlor schools In Aprll 2024. the Clrcult became Man8gingTrustee for both these properties. A nursery school occuple3 two separate parts of the slte, one under the terrns of a lease and the second under a Tenancy at Wlll. Rental Income totallin8 £2.610 was received during the year as a result of these agreements. 20IPage
Choriey & Leyland Methodist Circuit Trustees Report & Accounts for the Year Endlng 31" August 2024 Notes to the Financlal Ststements forthe year ended 31tsAugust 2024 8) Grants & Donatlons Reversed Thls Year Carrled Fww4rd Paw Thts Year From General fvnds Pald Thb Year Canled Lknpald bll 5t Johns School. 8rinscall 1.117 IL1171 11.117} Refugee Support 11,0001 Totsl 1117 111171 (1117) A8reed Thls Year Paw Thts Carrled Forward Ayeed Prevlous Year Pald Thls Carrfed Year Totsl PaldThb om Oes*nated Funds Ilwld blf Contactless Gmng 610 16101 16101 3 Generate 820 18201 18201 1401 (IA70) Other {401 (V70) Total L470 O¥orall Totsl (3W7) (3.587) Agreed Thks Year Pakl Thb Carrfed Yr Agreed Prevlous Year Pald Th15 Year Totsl Unpald blf Pald ThSs Year Other 20 1201 1201 1201 Totsl Overall Total 13h071 13.607 During the year grants and donations totslling £3.067 {2023: £4,537} made as outlined above 9) Stlpends. Saiarles and Assoclated Costs a) PresbyterJ & Deacons PartThn• rAneral De51ufiated Stipends National Inswance 123.420 12.118 31.247 123.420 12.118 31.247 166.785 3.049 3.067 123.420 12.118 31.247 140.026 13.475 36,218 189.719 2.731 3.708 Pensions Totsl Ernplayment C¢)sts Telephone & Internet Travelling Removal & Relocation 3.049 3.067 3.049 3.067 Totsl 172JOI 196.158 211Page
Choriey & Leyiand Methodlst Clrcult Trustees Report & Accounts for the Year Endlng 31" August 2024 Notes to the Financial Statements for the year ended 31'August 2024 b) Lay Workers & Admln Staff General 2023 Salary 24.742 3.365 28.107 13,6S3 41.759 SSA92 National Insurance Pensions 2.136 1.474 28352 113 2.143 1.474 897 572 3,039 2,046 4,326 3,323 63J41 972 Totsl Employment Costs Telephone & Internet Travellln Total 3372 31,n4 114 J5,lli 150 264 761 37 3810 1.063 65,175 29226 3l636 15335 47.971 c) Totals Genernl Stlpend5. Salarfes & Aswclated ZOl127 3AIO 20537 15335 220073 26LY34 d) Penslons All ordained Presbyters & Deacons afe members ol the Methodist Ministers. Pension Scheme IMMPS). which is a defined benefit scheme. The Supreme Court held in 2014that Methodist ministers (which term was deemed to include pSbyterS and deaconsl are not employees of the Church. For simplicity, tKJwever. when dealingwith National Insurance and pension contribLrtion8. the *mis'employer' and '8mployee' are used as theywould be in an employing body. On the other hand. lay employees are contractual employees and do have the option of joining an occupationalpension schem& Financial details of the MMPS can be found in the note to the Consolidated Report and Financial Statements otThe Methodist Church e) Cost of Superintendent. Presbytsrs & Deacons The Joint Superintendents of the Circuit, the othei Presbyters and Deacons and the remaining members of the CLT are considered as Key Management Personnel. One of the Joint Superintendents chairs CLT and Circuit Meetings. The members of the Circuit Meeting are the Trustees ol the Circuit. The stipénds. employevs NIC and employers pension contriblon3 and other expenses of the Presbyters and De8cons ol the Circuit are paid by the Circuit. The manses are provided bythe Circuit and the Circuit maintainsthe properties. Council tax and water charges are paid by the Circuit. bLrt as HMRC does not regard this a benefit in nd the values are not disclosed here. Each Presbyter and Deacon is entitled to a three-month sabbatlcal. every seven years. Expenses incurred during this are met by the Connexion, with the Circuit continuin8to paythe stipend. Duringthe year there have been no sabbaticals. There are no additional co$t$ incurred as a result of sabbaticals as the remaining Presbyters and Deacons cover the Vrk without additional payment. The total employment costs for Presbyters and Deacons can be found in Note 9a al)ove. 221Page
Chorley & Leyiand Methodlst Clrcult Trustees Report & Accounts for tho Year Ending 31" August 2024 Not88 to the Flnanclal Statements for the year ended 31'August 2024 10) Property Expenses During the year the Circuit was Managing Trustee for 3 manses12023:41, 811 ofwhich were occupied by the Presbyters. The Clrcuit was also Managing Trustee for a fomier manse. James Place, which was sold In October 2023 and also for a former manse Arely Wood Drive. which was designated as investment property b%rylh effect from December 2023. The cost of on-going rnaintenance and improvements to all properties is current funded on an'as Incurred'basisfrom the Gèner81 Fund. Any majorlone-ott repairsormaintenance are funded fromthe reserve held in Designated Funds. The Clrcult18 al80 respon8ible lor any property r8l8ted expen888 In respect of 2 closed churches. Wlthnell Fold and He$kln Methodl8tchurches. as well as Quinquennial Report8for allChurche3 and Man888 wlthln the clrcult. Followlngthe Academ188tlon of Leyland Infant and Junlor schools In Aprfl 2024 the Clrcult became Managing Tru8te8 for both these properties. No propety expenses are Incurred In respect of these propertles. 8) Exp•ndlturn on Manses G•n•rnl Fund M•n Cqundl T•x lrtsur•fice W*ter Other Tgt•l 202>14 Totsl 1022.23 M•lrt & Arley Wotsd Ddve Canberra Road 5,216 6.287 3,499 624 Uttl• Close 2.025 429 407 218 587 3.665 Mlllfleld Road Warton Plac• 483 305 360 918 2.748 4,090 io 1777 4,121 524 Wlndsor Drlve 1,529 496 1.074 72 Total Gtft¢r•l Funds Deslgn•t¢d Funds Arley Wood Drlve Wlrbdsor Drlve Wèrton Place Total DeVated Funds Totsl- Man$ 10.503 231Page
Choriey & Leyland Methodlst Clrcult Trustees Report & A¢counts for the Year Ending 3141 August 2024 Notes to the Flnanclal Statements for the year ended 31'August 2024 b) Expendlture on Other Property General Fund 202>24 Investment Propertles Church Quinquennial Reports Tatsl 23.234 8.063 475 23334 cl Totsl Expendlture on Property Genernl Fund 202>24 Desfvted ndS 202>24 2022.23 Totsl Funds 2022-23 Manses 10503 22,524 10.503 22,524 Other Pro rtle5 23.234 8.538 31W62 23.234 8.538 31.062 Totsl 33.738 11) Dlstrfct Assessment Levy The District Assessment is calculated relati to the proportion ol Staffing (Presbyters. Deacons and Mission stam of all Circuits within the Lancashire District. Presbyters & Deacons. attract a w8ightingof 1.50 per Fte and Mission Staff a weighting of 1.0 per Fte. The amounts included in Designated Funds relate to the Pioneer Ministry Enabler. The Circuit Model Trust levy is calculated on a sliding scale percentage ol the Circuits CMTF account balance as at 31 August in the previous a¢countingyear. Totsl Totsl 202>24 Genernl Fund Funds Distrfct Expenses Methodist Cr£h Fund 11.604 65.599 16531 13.692) 10.951 61.907 14.317 12,321 73.663 - CMTF 14.317 2.936 Total 14J17 14345 87J75 88J 12) Office & Admlnlstration Expenses arcult Desl8nated Total 102> Total 2022- TNst Funds Payroll Admin char8e Computer Levy- Ministers TMCP Investment Management Fees 776 776 877 877 310 Printer Cartridges Conference Mlnutes & CPD 587 587 363 Offe Equipfft Circuit Webslte 369 249 249 249 Other Admin Costs 111 117 124 413 Total 241Page
Chorley & Leyland Methodlst Circult Trustses Report & Accounts for the Year Endlng 31" August 2024 Notes to the financial Statements for the year ended 31'August 2024 13) Other Outgoings Genernl Fwnd CIrtt Model Tnt Fund Tot•1 202>24 Totsl Funds Ml* Preathln8 & Wwshlp Supernumery Preather Expenses MessyChurch- Buckshaw Resources 2.791 2.791 319 2.618 467 319 1.557 1.557 2.701 Other Expendlture Tralnlng Course5 & Events Apprenticeshlp Lewi Staff RetreaVCLT Away Dov Purchase of Rkkshaws 855 855 991 1.560 9.186 1.985 928 Interest Paid Venue Hlre 1.370 5.411 1.313 1.370 5.411 1.932 Profe5slonal Fees 2.335 Other 619 13h19 01 1557 619 21775 14) Invastment Management Duringthe yearthe Circuit paid TMCP. the custodians of the Circuits investments. management charges based on 0.2% of the value ol the funds as at the beginning of the financialyear. Detaits of these by fund are listed below. None of the individual amounts are considered material but the totals by Fund category are shown in Note 12 above. Realised and Unrealised gain8/llo8Je$) in invested funds are Ilsted below. General CSrcu Model Trust Fwid De$ated Funds Total Total Funds CFB Corp(xate Bond CFB Managed Mlxed Fund CFB Mana8ed Fixed Interest Fund 16.751} 2.217 16.7511 2.217 1379} 11.271) 7.115 7.115 12 15) Gainl(loss) on Investment Propertles & Manses 2023-24: 408.816, (2023". £154,571) Duringthe year. in accordance with CPD, the Circuit became the ManagingTrustees of 2 former churches. Withnell Fold Methodist Church and Heskin Methodist Church. The sale of Withnell Fold completed on 2P December 2024 and the sale of Heskin is planned to Complete in mid-march 2025. Accordingly. the net sales proceeds have been used to r8cord the carrying values of these two assets as at 31" August 2024. As the were no values previously attributed lo them this then results in gains of £329.534 & £266.826 respectively. 251Page
ChorLey & Leyland Methodlst Clrcult Trustees Report & Accounts for the Year Endlng 31" August 2024 Notes to the Flnanclal Statements forthe year ended 31'Augu8t 2024 16) Reclasslflcatlon of Funds 2022-23 £1187,0221,12022. £1609,001)). Thls arises due to net sale proceeds (see note 6) ol propertSe3 sold Inth8y8ararecredited to the CMTF, whereas the carryingvalue 1$ held In General Funds. The impact on overall reseprfes is nil. 17) Man808 & Other Property Bulldlngs compr18e 6 (2023: 51 compriging 3 manses located In Chorley, Leyland & 8rln8call together wlth 2 closed ¢hurctte8 a) Cost or Valuatlon Investmenl Prop•rtl Land Flxtures. Flttln8% aftd Equlpment Alsèts under Con5trudlon Total 8alance brought forward Addltlons In the year Revaluatlons 187.022 405.816 1,127,686 1,729.622 less Dlsposals In the year Transfers between Cate Totsl 1187,0221 orkes 405,816 b) Accumulat•d Doproclatlon and Impalrmont Provl8lon8 1127 686 Balance brou8ht forward Depreclatlon chJr8e for the year Impalrment provlsions Revaluatlons Dlsposo15 Transfers Total c) Not 8ookValuo Brow4ht Forrd Carry Forward dl Scheduio of Propertle8 1127,686 1.127,686 1729,622 405 16 Prgptrtv Arley Wood Drlve Imansel Little Close (Mansel Warton Place (Mansel Wlndsor Drlve (Mansel He5kin (Closed Church) Withnell Fold (Closed Church) Totsl 379,496 295.000 223,162 230.028 379,496 295,000 223,162 230,028 184,096 221.720 1.127,686 261Page
Chorley & Leyland Methodlst Circult Trustees Report & Accounts for the Year Endlng 31*1 August 2024 Notes to the Flnan¢lal Statements for the year ended 31'August 2024 18) Investment Assets. Includlng Trustsos for Methodlst Church Purposes The funds that supportthe Circuit Model Trust Fund (as listed below) are held by TMCP in Trustees Interest, Managed Equity or Corporate Bond Funds on which interest or dividends are credited to the account$ either monthly or quarterly. These are regarded as medium to long term investments. TMCP is the legal owner and custodian trustee of all Methodist model trust property. including legacies. endowments and accumulated funds. Trust property is held for and on behalf of local managing trustees who are responsible for the day-to-day management of tst property. TMCP ensure. through providing guidance and acting under their direction. that the managing trustees comply with charity law and Methodist law and policy as determined by the Methodist Conferenc& IRv¢sknont Ful oolalts Trirt F¥ftd- Delalls Totsl. 2023 Unfts CFB Managed Mixed Fund CFB Managed Fixed InL Fund CFB Corporate Bond Tirtal In¥estm•nts 2CIC#) 5.698 4.126 5.417 28.650 155 2C122 1.762 7.270 7.270 2C128 6.751 34U6 35 2CIIO 460.746 460.746 307562 19) Debtors & Prepayments All items shown as Debtors as at 31 August 2023 were received during the current financi81year. All gums paid in advance at 31 August 2023 have been released in 2023-24. with the exception otfees relating to the disposal of properties. £1.370. tt is expected that ali sums shown debtors & prepayments In advance at 31 August 2024 will be ieleased in 2024-25 Gffieral Fund Yotal 2024 2023 Fvnds TTht Fund Funds Trnde Debtors Assessments Other 640 Totsl Debtors Prepayments Stspends. Pen51on & Nl InSUrae Premiums 14.152 1.487 385 14.152 1.487 385 17.052 1.857 306 Councll Tax & Water Char8es Fees reL4ting to d1¥Kl of properties Fundin8 for 3 Generate Other 7.194 7.194 1.370 L260 152 55 55 Totsl thpayments 23,673 24313 24? 271Page
Chorley & Leyiand Methodlst Clrcutt Trustees Report & Accounts for the Year Ending 31" August 2024 Notes to the Flnanclal Statements forthe year ended 31'August 2024 20) Loans to Churches Loans to churches wlthln the Circult may be granted by the trustees for a variety of purposes. All loans 8re Interest free. Th8 agreed repayment period lif set) 18 shown in the table below. The108n granted on 25" November 2021 to Leyiand is to assist wlth essentlal malor roof repairs. and the108n granted on 31 December 2023 was to assist Leyiand with their boiler replacement projecL Chuffth Amount Grnnted ThtsYe•r Repald Thls Year B•lan(• clf Gr*nted Lèylartd Methodlst Church Leyland Methodlst Church Leyland Methodlst Church 2>140¥-21 91.OCKI 15.LJ)O 5.704 91.(Th) 16,1301 84,870 15,L 31-Dec-23 15.orio 5.704 28-Fe&24 l Year 5.704 21) Centrol Flnance Board (CFB) and Bank Balances Monetary balances held at the Central Flnance Board of the Method18t Church, The Co-op Bank and 8t the Royal Bank of Scotland plc are 811 available on demand without loss of interest. Where possible the Re8tricted Funds are ali held in 8pecilic bank accounts. The allocation of the balances across General and De858n8ted Funds 18 arbltrary, but whefever po&8ible ba18nces are not sh a8 negatlve. Gen•rnl Totsl Fund arcu 2023 Funds Tr¥st Fund Endowment Funds Central Flnance Board 17.5511 80.024 14.920 4.690 Ismo 12.059 99,602 24.874 56.555 22 (0P 8ank R al 8ank of Scotl4nd Tatal 74 li 8IA51 22) Crodltorn. Accruals and Income In Advance All Items accrued or recelved In advance at 31 August 2023 were paid or Teleased In 2023-24. and It18 expected that the Same will occur with ail Items a8 at 31 August 2024. General cl[•1 Totsl Fwnds Tru Fd Endowment nds In¢ome In Advanc• Assessments recelved In advance Rent- Arley W¢Jod Drive Total Income In Advan 76.953 1,398 76,953 1,398 n351 44.756 nJ51 Credltors & Afcruals Minister & Staff expenses Mln15ter5 Removal Expenses Clrcult Assessment Rebate 159 12,462 19.686 L764 339 Olstrl¢t se$sent 943 1.177 92 Manse RepairslCoL¥KiI Tax etc Other 1.177 92 Total Credltors & Accrwals Tgtsl Q¢dltors Idue In under I ear 558 34410 79.166 281Page
Chorley & Leyland Methodlst Clrcult Trustees Report &Accountsfor the Year Endlng31"August 2024 Not88 to the Flnanclal Statements forthe year ended 31'August 2024 23) Unrastricted Funds a) Goneral Fund The purpose of th[$ fund Is for use at the dlscretlon of the trustees In furtherance of the general obloctives ofthe Circuit. and which have not b88n designated for other purposes. AS at 31 August 2024. 72% {2023 82%) ofthis fund Is held 88freehold and long leasehold properties. being man$e8formlnlsters and Investment propertie8. Details of gr8nt8 and donatlon8 made Irom the General Fund during the year can befound in Note 8. The Tru8ts83 are aware thatgranl applicatlons must d8monstrate publ1¢ b8n8flt and thl818true forth18 fund. 31- 3144Ui-23 1.375,667 Ballnte 1.640.2SO b) Clrcult Model Trust Fund 31-Au Balance 498,882 307,562 The purpose of th1$ fund is for use at the dlscretlon of the trustees In furtherance of the general oblectlves of the Clrcult. Its main source of Income18 from the sale of church bulldlngs In the Circult. Although th[818 technlcallyan Unfestrlcted Fund underthe control ofthe Trustees, Methodl8t Stsndlng Orders 930, 931 and 917(21 do contain some restrlctlon8 on the u88 of the fund. c) Degignated Fundg B•l•nce 35,S27 These fund8 are to Serve Speclflc purpos88. but are not re8trlcted by any document or deed to that purpose alone. Det8118 of the gpeclflc lund$ are a8 follow8: Man40 Major Ropalrllmprov•mont Fund-th5818 a h18torlcalfund. 8Stabll8hed overtlme bytr8nsferrlng fundg from the Genaral Fund. Tha fund balance at 31 Au8USt 2024 8tand$ at É13,30212022: £13,302>. Pr••byt0r¥ & Doa¢on# Ramov81 Fund- u88d to meet the removal costs of new presbyter8 & deacon8 joining the ¢lrcuit. and w88 88t8blish8d overtlme ty design8tlng funds previously held In the Qeneral Fund. The fund balance 8t 31 August 2024 8t8nds at £90612022: £9061. Trainlng & Development Fund-thisfund was established durin8 20-21 to provide 8UPPOrt for Indlvlduals who are looking to further d8V8lop their own falth lite with specilic training. The baL8n¢e as ot 31" August 2024 stand8 at £4,82012023', £5,883) Other Designated Fund - th1818 used to lund 'one-off' Items that wouldn't be classed as normal oper8tlng 8XP8ndltur8 or be covered by one of the other deslgnated funds. Th18 lund was fully utlllsed duringthe year bringingthe b81ance 88 at 3111Au8ust 2024to 012023: £847) 291Page
Chorley & Leyland Methodlst Clrcuit Trustees Report &Accounts for the Year Endlng 31"August2024 Notes to the Flnanclal Statements for the year ended 31• August 2024 24) Restrlcted and Endowment Funds 31-Aui-24 19,720 18.797 The restricted and endowment funds exist to support the causes below. The funds held 8$ Investment$ within the Balance sheet are managed by TMCP. In the SOFA the inv8Stment income and chaoes fof these funds are recorded to the relevant lund and then a fund iransfer is recorded to reflect the fact that the net income from these funds18fter charges) is credlted to the CMTF, which 18 an Unrestrlcted Fund. Thefunds held on depositwith the Centrnl finance Board {"CFB"l are managed bythe CFB and th8 Interest is credtrted to the relevant account. Each lund is listed below and 18 categori8ed accordlng to the followlng key: EE- Expendable Endowment- C8pltal available with restrictions PE- Permanent Endov4rnent- Capital unavailable RL~ Locally Restrlcted- Capltal and interest available Dliltal Enabler (IILI- Grants and donatlons rttel¥ed in 20221 for equlpment and resources to enable dl8Stal rnlnlstry. The balance on this fund as at 31. Au8USt 2024 was £3.721.12022: £4,341} 8u¢kshaw Rlckshaw Project (RL)-Grants and fundrnislng to be used to wpport the Buckshaw Rlckshaw prolect. The balance on thls fund now stands at £9.895 {2023: £9,895). Local Preachers (RL)- to be used to support those followin8 thelr callSn8 to be local preachers. The balance on thls fund at 31" Au8USt 2024 stood at £3.055. (2023: £2.9071 St Johns School (RL)- available to fund any emef8ency repalrs at theioint Church of En8landlMethodlst prlmary school In 8rinscall. The balance as at 31. Au8USt 2024 st¢)od at £1,720 {2023: £1,630). 25) Summary of Fund Mov•ments Balance at I Sep 2023 8alance •lJn •t JI Aui 2024 General 1.375,667 321,346 260.765 1334.4231 15.193 .832 2W794 1,638.216 Clrcult Model Trust 307.562 156.832} 2,581 498,882 Total Unyestrfrted & Und• l683228 5niiO 22&375 1137JlS1 Manse Major Repairllmprovement Presbyters & Deacons R0¥al Ploneer Mlnbstry Contactless Glvlng Tralnlrvd & Development Fund other Desi nated 13.302 13.302 906 14.588 112.5S41 2,035 5.883 11.0631 4,820 11.470 14.024 16191 440 Tolal Deslgnat•d Dlw'tal Enabler Bu¢k$haw Rkkshaw Pr¢ject Ltxal Preachers 5527 4.341 9WS 2.907 1.635 3,721 9,895 3.055 1.720 1.328 101 19,no 2,178 St J¢>hns SCI1 Funds Aalsed for Commw)ity Ploneer Network 1,328 20 201 639 Total Re5tr1cted 797 Totsl ofAU Funds 757 583,672 221375 30IPage
Chorley & Leyland Methodlst Clrcuit Trustees Report & Accounts for the Year Endlng 31° August 2024 Notes to the Financial Statements for the year ended 31°August 2024 26) Analysls of Net Assets Between Funds Fund balances at 31 August 2024 are represented by: General CITcuIt Model Fund Tryrt Fund De51Enated Fundi Restrl(ted & Endowment Funds Totsl 2022 Tangible Fixed Assets Flyed As$et investmerrts 1,127,686 405,816 1,127.686 405.816 38.136 696.591 189.9091 1,729,622 248.658 35,555 46S.738 167.6261 Investments 38.136 460,746 Current A55ets 196.657 189.9091 19.468 19.720 Current Liabilities Credltors Due After One Year Total Fynd Value 1,640,250 498,881 19.720 2.1783ZO 1411,947 27) Related Partles Receipts from and payments to related party during the year were as follows: Circult Assessments totalling£290,86912023: £300.4841 were received from the Churcheswithin th8 Circult duringthe year 18ee Note 4 for further detalls), and payments of £72,858. (2023: È85.894} were made to the Lancashlre District in respect otthe District Assessment. In addition, the payments scheduled below were made to Trustees ofthe Circuitforsupernumery Preaching Expenses. It is not generally Circuit policyto réimburse Circuit Meeting members for expenditure properly incurred in carrying out their duties. However as outlined above the Presbyters and Deacons. are paid by the Circuit for their work within the Circuit. In addition. payments (fees andlor travel 8XP8nses} are made to Supernumeraryministersfor preachingduties they undertake within the churches ofthe Circuit. These costs 8r8 reported as'other Out80in8s' and details of these payments to Supemumery Ministers who are Trust888 ar8 Outlined below. Trustee 2023-24 2022-23 Rev A Ma5hiter 1.358 600 1,179 700 Rev R Stubbings Dcn S Nlcholls 697 683 Total 255 261 28) Agency Collections & Payments The receipts and payments below were Collected on behalf of and paid to the various Methodlst Church funds as listed below. Recelpts Payments Balance due {from) I to Circult -31Aug 24 Mlsskin In Brltaln Fund 1,490 1,520 11,4901 11,5201 14001 11,2901 14001 19391 Property Fund World Mission Fund Presbyters and Deacons Fund Tralnlng Fund JMA 1.290 939 Total 6.039 311Page
Chorley & Loyland Methodlst Clrcult Trustees Report & Accounts forthe Year Ending 31"Au8USt 2024 Notes to the Flnanclal Statements for the year ended 31° August 2024 29) Volunteer Contrlbutlons Every entity Iconnexion, District, Cir¢ult, Churchlwthin the Methodistchurch in GB Is he8vily reliant on volunteers who contribute their skills, time and money in the furtheran¢e of the work of the Church. The esbyters and Deacons are supported by local preachers and supemumerary minlsters to ensure that worship can be held al allthe churches everysunday. In addition. many people contribute by Servlngon committeesland orworking inteamsthat dealwith planning. mission, manses, finance, and safeguarding. 30) Capltalcommitment and Contlngent Liabllltles There were no capital commitments or contlngent liabillties at the year-end12024 nlll. 31) Lease ¢ommltments On 26th July 2019 the Circuit acquired a property in Llttle Close. Leyland as a replacement manse. This property Is subject to a 999 year leasewith effectfrom 1stJanuary 2000. The annuaiground rent payable is £85. The Circuit has no other long-term 18as8 obligations. There are short term obligatlons for telephoneslbroadband atthe Circuit Manses. The total annual ¢ostofthe8e is n0tconslded material. 32) Independent Examlner The independent ex8fniner provided no addltlonalservices duringtheyear. 33) Post Balanco Sheet Events On the 2V' December 2024 the $8le of Withnell Fold Church was completed. The carrying value of this asset 88 at 31" August 2024 of £221.720 relle¢ts the actual saLe proceeds net of both the Costs Incurred In the sale and the CPF Levy, 321Page