NORTH YORKSHIRE COAST METHODIST CIRCUIT Registered Charity No. 1136165 ST REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31 AVGUST 2024 The Trustees present their report viith the financial statements of the cP%arity for the lear ending 31:- Augtjst 2024. ACCOUNTING FRAMEW'ORK The Charity's annual report and accoun:s for the siear ended 31" Au￿￿St 2024 have been prepared in ￿(Ordance with the Charities Act 2011 and the Lharitie5= Statement csf Recommènded Practice 20J.5 as applicable lo the Financial Reporting Standard IFRSI 102. AIMS AND OBJECTWES The Circuit hès a mission statement ivl)ich is summari5ed as: "The North Yorkshire Coast Methodist Orcuit exists to fulfil God's vision of sharing the Good News of Jesus Christ with people of all ages, so that they bvill become His disciples and grow in faith. We ivill do this by challeiiging, encouraging, resourcing and enablTng the peoplKa and charches of the Circilit to seTve their comniunities ai?d the wider world," In practical terins. the Circuit operates to= provide ministerial oversight and pastorèl care of the church communitseg In the Circuit,. pay and support a team of ordained presbiiters and tw'o support 5sork.er enable the upke-p of as50Ciated manses. ACHIEVEMENTS AND PERFORMAN I he Circuit cover5 a ':vide geographic area, iieiiertheleSi the Ci.-cuit leodership Team strives to keep the different cl?urch conimunities connect Funds previously agreed for releasing to resource mission in local church communities yjere paid b,1 way of grants. The fu4d has been frozen for a year to reasse59 the criteria. A bequest to the Circuit fFOtn thE eslate Df Miss Jo!Ee DBrk 15 beivig used to filnd a Youth Furid *.0 support young people who wish to partiiipate in events and 3ctilllLie5 1i.thich viill enrich "heir spiritual ljijes and deepen their discipleship. The Coldyhill Lane CircuiL bjlanse is being rented and ttje rental beins Jdded irsiD general fuiids. FINANCIAL REVIEW Investment Policy and Performance To comply with Methodist Standing Orders. monies for long-term investment are lod￿ed with the Trustees for Metliodist Church Purposes ITMCPI. Tfv7CP acts os Ctjstadian truslee for all real estate held by Circuits and for all large IDver C20,OC¥)I bequests and for the proce=ds of s(Tle of anv proFPrty formerl¥ owned by the CirciiiL These sums are invested in unitised iTrve£tments or hela on deposit. Tkie inve¢tfflent returns are close to tiacking the movements in the FfsEI(Y) index. The dep051t ir.ccme mirrors the deposit Tates a%iail-ble elseiw'here. Circuit tru5tees' investment polio/ is aligned ,￿[th that of the Ceatral Fin&nce Board :'CF31 and th- TlknfjCP because these orgonisations take into consideration the social. environmental aiid ethical ton5ider3iions, both negatively and positively. that make investments suitable for +he Methodist Church. There are no benchmarks for the expected returns or appreciation on iniiostment9 at CFB and TIIACP. It IS the Circuit's policy to manage the cash ar,d investmeiit fe50urces of the Circuii $0 that a rate of return on investment- both by way of dividend and capital 3ppreciation- is obtained at least as good as mèrket rate considering the Circuit's Sow appetite for risk. Investimunts are currently spread between the CFB Managed Equity Fund, the CFB Managed Mixed Fund and ihe CFB Deposit Fund. A donation had heen made toviards The Connection Pension Fund of £18,750. The Connexion have noiiv said they no longer need the money, and this money plus that given by South Cliff N4ethodist Church Inovi closedl has been returned to the Circuit. Reserves level and policy Page I Urkrestricted reserves are funding a S-yeèr appointment until August 2025 of Mr Thomas Clayton and supporting conirr,iinity Outr￿aCh in the CircuiL. This is -Ihe last '/e37 of a gTant of CIG3,iXJO to be paid oL,t at £20,0￿ per year for 5 years has support=d mission ¥4Jork in the Driffielti Circuit. It is iecognised that f income is not meeting ènnudl expenditure 3nd that resetves are going to be further drawn upon soing i?rtNard. StaffiTi£ le'iels are being k.pt under close revie'w. Model Trust funds'were earlier designated to resource mission in the Icchl church communities, to be made available for appfoved clairns aid to be dra¥n over a [na￿MUM of 5 year5 from the dète of approval. £27,558 has been paid out during this financial year, I'iith orFe unspent grant of £944 being returned by one church. A target figure for reseNes is set at £)lJ],OW ivhich would cover a year's expenditure on the general fund and at 31" August 2024 the unrestricted reseNes were E840,252. Collaborative arrangements wtth connected charities The Circuit's prime source of fundinttT jc from voluniary contributions made by the member churches Iwhich in turn is derived largely from the donations of the vèrious churc17 congregationsl iii order to meet the Circuigs annual Genef al Fund budget. The CircL'it Troasurer generally meets annually with th£ treasurers of the member churches to revievi the Circuit's fjnonces. to present the Circuit budget and to seek commitrnenis trom tlie churches to makirF contributions toi4t8rds meetino ihe budget. Tli8 Circuit is required to P3,/ an 3S5essmont to the Yorkshii-e 14orth and Fast District OT the Methodist Cl)iJrch, PBrt of which 15 Passed on to The Metho(iist Church Fuftd. This assessment is itlriently based on B formula linked to stafling numbe15 in tpse Circuits. The Circuii pay5 3n annual leky via the Trugtees for Ibfjethodist Church Purposes to the District Advance Fund, based on the value of its b-lance in tkfe Circuit Model Trust Fund at the start of the Connexional year on I: September. TRUSTEES, RESPONSIBILITIES For each financial X decisions ar* niade al or ratified by the Circuit fvleoting. A district is the coordinating charity for a group of contiguous Circuits and makes its decisions at the half-yearly 5ynod5. The Methodist Conference meets once each year as the supreme denominational body for all Methodist Churches. Overall regulatory authority rests with the Methodist Conference. 2. The Connexional Office, alongside the Methodist Council, implements decision de by the Conference and is also responsible for the stationing of presbyters and deacons (collectively known as ministersl in individual Circuits ivithin the District. Connexional decisions are passed to the Chair uf tlie District and the appropriate Officers of the District for regionBI inipleinentatioi). Page 2 The Districts pass control down to Circuit level for local implementation by the Superintendent Minister, ministerial staff and Circuit StevJards, and autliGrity is delegaled to tlie Circuit IAeeting for certain matters. The Circuit Meeting passes regulotory control down to Cliurcli Co'Jncils for local iinplementation by the presbyter, tlie Church Stewards and other officers. and authority is then exercised by Church Countils as Mariaging Trusiees of their charitv. The Circuit Svperinten¢Jent chairs meetliigs or thts Circuit Leadership Teèm ICLTli and the Circuit Meeiing, vjhich trustees are expected to atterid. Polic¥ decisions are norm311! taken at the Qrcuit Meeting. Durip.g the time of Covid restriction5 the meeting Eranted devolved powers to the Circuit Leadership Team and has ren￿l￿ed this periodic311,, The Methodist ConneAional '/ear ruT>S from 1:.: September to 31:: August. 6.2 Governanee The purposes of the Metliodist Church are, and skall be deemed to have ￿￿een since the date of union, the advancement of-. the Christian faith in accordance with the doctrinal standards and thè discipline of the Methodist Church, and any charitable purpose for the time being of any Connexiona5, Di the Methodist Church. and any charitable purpose for the time being of èny soc'.ety or institution or subsidiary or ancillhry to the Metliodist Church, and any purpose for the time beip.g of any charity being a charity subsidiary or ancafeguordin¢ Oficer in the Circuit to ensvre the èdoption of 58fe practice amongst childreTt and vulnerable adults. The Circuit a150 follo¥vs the Connexional policy on safei recruitnient, as detailed in Sofer Recru2tmenL¥ Polic/i. Procediji'er ond Guidance. PublEC benefit The trustees confirm that the¥1 have compSied vjith the dut¥1 under the Charities Act 2011 to have due regard to the Charity Commission's gexer81 guidènce on public benefit. Specifically: many churches make their premises Bvai5able to other organisations th3t need SOMe￿here to meet uniformed organisations1Scouting, GirlguidirFg, Boys, Brigade and Girls, Brigadel are affiliated to many of our hurches and meet on church premises provision of breakfa5t5 and lunclieon clubs for the elderly and disadvantaged other activities to the benefit of the public including Dutreach activities raising money for local. national and overseas charities and activities. Page 3 ADMINISTRATIVE DETAILS Name ofthecharity North Yorkshire Coast Methodist Circuit Charity registr3tior¥ number 1136165, registered in England and Wales Registered address Circuit Office. Westborougl) Methodist Church, Westborough, Scai'borough, North Yorkshire, YOII ITS. Telephone1017231355129 email.. n crncircuit mail.com Superintendent Minister Revd Graham R Morgan Circuit Support Manager and Secretary to the Circuit Meeting Miss Fiona Kernp Circuit Treasurer )Ars Carol Evans Names of Trustees The following peop'.e serJed as tr+Jstees throughoutr ali or part of the financial year or kvere trustees at the time of this report being approved.. Mr Cosin Adaffi50n (Circuit Steward 6nd representing Westborough Methodist Church, Scarboroughl Mrs Rit￿ Alden (reprEsenting S.flG117tDn Methodist Chj urch)- resigned 04/01/24 Mrs Claire Alexander (representing Robiti Hood's Bay Methodist Church) M r lan Aley.ander Irepresenting Robin Hood's Bay Methodist Churchl Mr5 Barbara Beadle (representing Snainton Methodist Church) M rs Marilyii Bellinger (representing Snainton Methodist Church) Mrs Jean Brown Irepresenting 5herburn Kqetl)odist Church) Mr Peter Brown ICircLÈit Steviardl Mrs Eileen BuTn (representing SeBrner IbfjEthodi5t Church} Mr Cliristopher Cade Irepresentsnu Slierburn Methodist Chiirchl is5 Arigelc CGmm55h (representir.-g Cro>S.4ill Metho#i5t Churcfi, Hunr70fjbyJ untrl 31/08124 Mrs Kathleen Chafter ji epTe5enting Fyli4¢t41 orpe APiethod.'st Chuf£h! NlIThomas aayton Ilccal Preacher55eEretaryl r)hrs Susanclubley Ireprthsentins Emrnbnue5 St. John't NlethodisVURC thurch, Scarborough) Dr L- ley Coote Irepresenting Emmanuel SL Jotin's Methodis"JURC Chisrch, Scarborough) Mrs Karen Cran5toTr Irepreseniins Cayton Mrnthodist Church) Irs Ruth Dale (Circuit MHA Chaplain) Mrs Georgette DDnoLThue IrepresentinE Burniston Metliodist Church) Mr John Earnshavi Irepre5tnti￿8 Seatner Methodist ChuTchl [￿r5 Carol Evans Icirc'dit Ste'NBrdj Mr David Evans (representing Queen 5t.reet Methodis+Church, Scarborough) Mr Peter Evans ICircLJit steward) Mrs HazrJl Greeri Irepresentiiu Littlebeci fdethodi5t Churchl Mrs Patricia Henny Ireprese.rytiTrcF b'ton tvlethodist Church) Mrs Christine Herbert Irepi e5entin¥ Scalby P.Jlethodist Church) Mr John Herbert (representing Scalby Methodist Church) Rev Christine Hey (Supernvinerary) -from 01/09/23 until 31/08/24 Mrs Helen Higgs Irepresonting Ayton Methodist Church) Mr Keith Higgs {representing Ayton Metliodis Church) Mrs Christine Imeson (representing Filey Methodist Church) Mr Robert Jackman Irepresenting Seamer Methodist Church) Miss Fiona Kemp (Circuit Sijpport Man3Gerl Mrs Gill Kirby jrepresenting IlJrerfi£ld Drive PAethodist Church) Mrs Anne Kirkm £239,401 t230,1￿) £0 £469,551 E242 655 ' ÉKpeMJilitr#::, EX￿?￿[tlE￿ or(-harttabJe artivibe5 E77,<58 58,375 .&7Jar￿s (J a55L¥.j3trpO cos15 i197.i12 1.37,.)84 L ?34.EJ3 E197.380 ProFkrt L29.548 f661 É20.209 F35.?73 io EéO.2US £108.319 L71.631 oiheroulpoirigs li £i5.i14 .057 £32.272 Total rharitsble expenditure £312,988 114,471 EQ £427,4ill £394.832 Net income be•¥ore investrnent ainsfl10s5esl -É73.588 È115,679 EO E42,091 -E153,177 In'JestYeiils Nc.¢ F?j1151{Ic5s￿sI Oli cliswsa.s IFvi2Iu31EO￿4 et1rY￿rn1￿glID￿tg0ill41 re50vrce5 before trn5ftrs -£165.lJ42 TTafisYtT5b￿tv￿e￿n tUnL13 £6>.t) P.ecL455ificAlion ol funds -E8,588 £75,048 £0 £E6,460 -£165,012 Total fund5 byoughtforbvard £3￿3.84￿ £379.341 £0 El.22&,181 1.393.223 Less.. Futuie f)f giaiil Grant ￿51>¥MentS PFOYlSions relis3 £8￿7,252 £454.589 EO £L294,6..11 £1,2ZS,181 CiTCUTt 29131 North Yorkshire Coast Methodist Circuit Balance Sheet as at 31 August 2024 Geiieral IUnrt5trktedl Model Trust Funds IUn¥estrirtedl ResÉritted FL**kls Totsl$ 20>4 Totals 2023 TonFible filed 8%st Bsi £-,14.È5Qj £?ir*,650 IIy¢s1￿￿.t1)E9u￿r1iL￿s EO es? 21..[ )lJ E2.;6,)1 I £2QG,262 rotsl fixedatsats E714,8SQ £246.215 £0 £961.053 £1.011,112 ¢iiirontA%SÈts Doblofx 3no Pfepaifneiits BS3 £16.73? Deposit Ftsnds IT%l¢£PI t￿4 El/90'1- 119.0?C:. 74.715. |rr-.iitial Fitt&n￿ 8card Oeposiig C9:,33Lj 16,487., Cash at Bank Ai7d i¥} hand E174,88Q £208,176 £0 £383.057 £252,032 QjrrentlhbiiltlÈs:":': B55 49.479 £411 479 135,763 Grant5 Pdyable ¥yiiliiii l year £49.47g E125.402 £20B,176 £0 £333,S711' £217,069 £8lkl.252 E45438g Éo EI2W,541', LI 22A,181 £84%1,252 £454,389 £0 EL294.tr¢1 El.228,181 Unrestricted.. 6eneral Fund F.840,P52 £8.aO,?.52, £848,8,10 Model TFU51 Fuiid% i454 3¥￿.: E.47y.?.11 |Totsl untestii.rted E454389 £1.2W.611', El,228.151. Restrittrd Funds Totat*ittid>: E84O,252 £454,389 £0 £1,294,S41 £1,228,IBI OFITFi ¥DR￿MIRE COAST Iv7ETHOD5ST CIRCUIT otes to the accounts foi" the year ending 31 August 2024 il A¢¢gunting stand3rd The financial statemeiits have been prepared sn accordance wf(h Accounting ond Reporting by ChcJrities.' SttstEmerJt of Recommended Pructce (SORP) appSic3ble to chariTie5 F)reparing their accounts in accorddnce with the Financial Report5llE Stanu3T-d applFcable in tne'JK and the RepublEiC of Ireland IrRS 1021 (effective from l Januhry 20151- Icnarilies SORP IFRS IOdl}. Lil Public benefit entity North Yorksrfi,-e C03St ,'theLhcdiEt LlfCL'it defiji ¥tÈOli Oi a ptablic benefit entity under FRS I￿02. A55ets 311d liabtlities are ifil&ially re£og*i *sea at niSi¢rical=ost transaction'ialue uD.1o>S Otherwise sta.èd ID. the releiiant aCCOL'nting pcisc{ notrlr Jj b!low. These 3ccounts have been pr4spared on the of historical cost ￿xCU ¥ that investments are sliokvii èt their markèt value at the und of ihe year. Tne ac£ru31s basis has been used and trustees present 3ccounts that show a true aRd fair Vie￿ of tha Circuit's financi21 position 3nd 3£tivities. tyl Content The financial informatlOTr Drusented is ielevanL, reltabln compar3ble 3nd complete. Iwhere estin)2tés are usect the5E are b35ed or¥ exFeFience, re5e3r=h 3nd judgrmènt. The acLount5 prèsented £st?rling. rounded to th￿ nÈare5t Douod. VI FRS 102 SORP2015 The 2E£OUnt5 ilave ~Pared FfI a-=e,-H2sIC£ i'4ltF: &ppltcat)IE cnjritri IcV# ¥n fn.glaJ)U. Ihis bO.￿lig tp.￿ Ch2ritle5 Act 2011 and Sl 2C08[629 IchB Y'"ti:- Accouiiting BThd R2porting qEgul&tlOll51 and, per,ding tlie makinE of replèceniènt R&guldtioDs spocific to SORP-D15 iri accorcaiice i¥ Re-.814iidj of Sl-0081529, tP+e charity trusteés have aeoa*Led frgm the Teou&rep.e?i L OT 8eE.8155 o¥ fo?IOWlll¥ 50RP i rR£1021 irystead of SORP 21￿5 to the eKtent necessary to give a true and lair vipw in the circumstances. VLI Going concern Based on the monetary as5Ut5 and human rÈsoiirces av2ilable at 31 AugL'st ?024, the trustees believe that the Circuit is a goinu concern. vil} Consolidation The Circuit h£5 denominational regulatory over5igh"L in respect of the work of Churches within the Circuit but has no legal or operation21 cotttToI of thos￿ CnLircno5 and *l..eir governTfig bodies except in extreme £iTcumstance5. For ih15 reason. the financial siaremenLr of Chui h&s ¥vithiii the ￿irCuIt are noL consolidated into tFEtsse financial SLatements. vtii} Income recDgftition Income 15 brouglt into accoLyp.t V¥heri tThe￿ ie an er*titlenient aD_d itye ￿1￿0}unl IS rtsason¢ble measurable once it is more thaEI. lik'ely tly ar not tb.a; t.4e erontsm&= beneTIt 05 the invoye fv&ll be forthcoming. The Circuit acts as agent in tiyc TnattÈrs= the Collection from churcheg a￿d payment ci'er of their contribotiotts tv VETIOU5 Fund5 controlled and administèred bv The MethoDist Church - 'Ccnnexional frunds,. the adrninistration lapplication, collprtioq and disbursement) of grants reqL¢estec5 b¥ Churches within the Circuit froni, but qot limitEd tc, LFe District and Cor,nexioE). In all th*e Matt￿#5 *h- trailSECttCiiS gre not rc4 d in th£ SOFA be=au<¢S th£y *r£ the incgfflEJ of either the ConDexion or church￿ as aopropriatE. 1115t-ed irarysacticns are d*sc105od in tne N'otes to thé.4ccounts Es required SOP.Pj FR51021. module 19.12. In acc?4-dance wtth the uh3fiiies SORP IFRS 4 O£1. tbe time of l'ol￿￿.tee￿s Is not i ecoDnt¢ed. Expendlti¥rè Thi¢ 15 recogniséd vihen a 112bjl¢ty Is incurred, o,- 3 constructiv& obliclation arise5. Fr4hore the amoLnt is reliably measurable and it is conssdered more likely t￿￿n not that there w¥ill be ary outflo¥&i of economic benefit. xl Grants Grar,Is mL)dÈ bytho Circuit from it9 rtjnds Bra recogni£ed iii full At the time of atsrDEnieni to make a grant. where ihe actual c05t is determis)èble. b4Jhere the gi'ant to De heet. xil VAT Since the Circuit Is riot VAT registered, all input VAT is charged with the expenses io which tt refer5. xiil TanEsble fixed assets These arè c3Pltali5ed if they can bé usad f(sr more tl)ary or4e yeèr, and individually cG)t 3t least ¢250. Tho freeh¢ld resideniial prop4￿￿1 I. jr shovir& >n-I17e *cc.Jdni. lue lèftèr d-duc'4ion of thè Connexional Levy and IèEa5 and 3ge.nt'S TYe5 Lhèt isjould tsaia.')ie on".hè rÈ5@ I'aiu'e3. ". time to tirne ttie CircL'It m.ay be requ5r#d to assume respoYs,.bilit¥ for Cb.ÉJrcb. pretnisE5 iollowing clostsre ènd C¥Puaiion of i14crshill. I h15 results Lhè Cirknuit brcaminÉ5 Mail 3g'" g I iur&aaS fo," tle Fi-p-tt¥. At that tilll.ts thé proporty is recognised as èn assel at its ènt I￿￿**￿ net S31& price as detE,"rriined v a PTrofessional i12(Ua&!on and after taking into consideration thts levk to c%?rged b¥ the Coi?nexion. Any eXF@ndit￿ra on such a¢sèts, if held for reinvestment of tho prc£eeeds, a5 the truiees determine, thiTt is lik&l¥ to enh3nce tale V451ue is c3Pltalised at the time the expenditure is incurreEI. lJlih.trre the Pracèeds are lal&ended to spent on aet%'it1È5, the property is iiicluded current 3S5ets èt the lowèr of cost or reaSisab18"oalti@. x¢i*lal Monetary Investments The Circust 5 ifiVeStmep.t5 in monètary as5tsLS Ciè5Stli&d 3s basic lir>èr4cial insLrLimenLS tsnder FRS102 are held b,i"he i ru5te# for k/set4odi5t fhuL ch Purp= -e5 rT>ACPF 3S CUit?OiBr* *rusteYS. Tile ¢aluatiof.5, at m&rker Value, are those provided by TV,CP. The up.reo115ed EairslÈosses af15kig OTh iESll*tniAntS thE 4 th.: ¥'.ear 4>re shown in the SOFA and in Note 12 balow. xiiiIPJ} I￿Vestment Property From time to time the Circuit may hold residentail property Iformerly mans@sl vihich is stsrplus to its normal staffing requirements. Whon this is the case and it is anticipèted th3t tSie propert'1 15 unliko5y to bÈ used a5 a mans within a period of two yeats. thp property is classified as InvestmÈnr Property Iwheth&r le: out oi Trotl and any lets are at rtTrarket rates unlÈss there is a compelltng reason not to do so furtherance of the Circitsit's charitable objectives. xiv Receivables and Payables- Bank and Cash18asic Financial ittsttument51 DebtDr5 arè 5t?ted at th& amounts owed to the Csrcuit or Frepdid_ Creditors are rècogni5ed at Settlement amount or tha 2moJi nt advanced to The Circuit. x¥ Methodist Connexiohtyl ruftds The TrJl£=. hodist Churcr, Connexton rai3e> a5SeSSlr lQP.ts agatnst fircknitrs aiL d these ¢re ￿La1￿ qJF ?rterly to thEi-. Dt51r¥cts. The C*Yc¥it i eceive5 -tsntributi)ns from th¢> Ctitsr£4es in ¥hE Cir£kntt. The Oi>tri¢t gUèrteTI,I to I he MÈthorlist Church rund niost of the sum r@c4£yad froiE) Cir¥u¢.s. A small sum is fytainsd by *.4e Disiri£¥ to RieEt It5 own COSLS. The Clrcuit may ict as agent Tor hoc collÈactions for Vofiou5 fuYd< ccnrrolled 2dmi4>itered by The lrfethodt- Church. xv% Funds The trustees have aclopted a policy for all unrestricEed re5Ctves Ktrhich li detailed irs the I rusteES' Report. xvii Ettdowmont funds Where Circuit holdi nioney vh3t may not be spent and niust be retain￿￿ las capftall"IO EèiTref3-ie. an income the rnoney or assèt5 to be ret3ined are classified a5 Endovirneiit Fund. The ¥apit31 ivill be sl)Okvn in the balance sheet in E columTr for entiovrfment fu'nds. The incafP.E ¢*ay be restrirt+ri d?p&v,ding u?on ttrie t*rni> O"J e.4dtswiTent. (The Circuit does not Cui rently havé ¥ny endowneryt Tunds.) xix Ministers, manse costs The Ct.-cuit is reqvired to provide accommod&4ion for each mTrnieter th.? Lircuit ap,rJ tp.eir faniilies and tb.is is seen as è bènefii +0 the Circuit. mtnlst*￿ ore no:-tr,3$1ii e%pected to occup'i tha man5 ro¥ided for theni, although the CTrrcuit CLirre￿Èl,I hès onè p3rt-',iYYTrè mip. ¥. iiihts li liiJir..g ID. their own accomodBiion. I Circiiit beays the cost of repairs, rnainLenance. bLllidirigs tnsur3n-è, -outl¥il TaK and ,￿ate1 ch3.. ¥- {gur￿5 ère not Separately disc105pd as be¢ieffts-in-kind ror min55t*¥ry ¢S ¥K.ail4C aoes not seek tro tax these recetPiS.'r* the li ands cif ministers. CFB.. Central Fi11ance Board of the Mèthodist Church r)ènages a Common Deposit F¢Jnd and 3 series OT pooled Investment funds lor Mtstnodisr trntitierJ in Gr&èt Britain and provides ir¥v#Jftmeni Bdyicè to those entities. ChuY¢h: 3 group of members Trom feiverthan 10 to more-lhan 300 Circuit: a group of Methodisi Churches riea-. each. Ciher. typically betkveen 10 av.d 30 Cir¢uFt Meèting.. The trL'steEs of lh& Circuit, riio>l gf ifj,horn èr& appoint&d b'/ trhsir loca5 Churchès ènd oth&rs bv virtue of 3 r£Trle they undertake for the Circutt ￿ndItsr their locèl Ch(Jrches. CLT Icircuit leadeiship Teaml: A groLTP of Circuit trustees resoonsible for the day-to-day administrètion and policy formulation of the Circuit. fJenerally tho CLT coniprises the Presbyters and Deacons stationed within the Circuit ènd the Circuit Stewards Circuit Treè5urtsr. CMTF.. Circuit Model Twst Fund Connexitsn= The Il lefrhodiS1 Chu-, ch in Great &..;.tu*f, '.v4ich in=5udes;he Wiead OfFice at MtitP.odist CkrLfrch House. all Ide*hodisE Districis, Circbit5 and Chui cllES',I, Jieat Bfitairi. Comnexional Funds.. Thrt DÈ-igr.aied 2nd/Gr fie5trirttrd Futnds r¢eld and administered b., tho Connexion in furFlieraiice of it5 chariL?b!e 3riri m6>iOn obie£tive!. District-. o group of LCnK'.I￿O￿5 Circu¥ts, 15 and 30_ DAF.. District Advance Fund FRS.- Financial Re￿Orting Standard HMRC.. Hii Majerty's RevEnbe and Customs MMPS: R4etlic)dist M(nisters' pe￿$l0￿ Schenie Piesbyters lincluding Superintendentl: Pr0b-t(tr￿￿ or Ordained Ministers andlcr Pèa=ons who have pastoral and admini5trativo responsib.'lits' ior fhiJrche5 *iYltF.in 4.he Circui¥ SOFA.. Siatement of Fiii anci&1 Act[￿ltIeS ¥&temeii t Oi TMCP: Trustees for Methodist Church ?Urp05￿. the legal owner and Custodian Tru5tae of all Methodist Model Trust prooèrty. includinLT l￿E3cleS, EndoiNmtsiYKS 8nd Accuniulated Eunis MDd@I'IIu5l tunds Resiiicted Generi31 r.und 2024 £600 Leuacy l¥o*r F.li7.3tieth Lon6 £2,000 800 12.of £soo E$.671 ,7,JEOO £3,400 9,371 I he iiriiiit now coniptis@E lt Chiiril.. Scalby Melliot￿lS1 Chijicli SheiDurn,wlf tliodisi i.horcl? Snainton l-vlÈiliodisl Lhurcli WreyField DrikJE Methodist ctitsitk jScaiborou8hl Ilodel Tttisi frjnds Ca'pttaft¢¢l'iiJts:' CI05efl £htsrch (net of Cf P LEI'YI ReS4iiiied frind5 Ger5Efdl Fuiid 2024 £0 £175.781 i175.781 £0 £17Jf,781 £0 E175.781 £0 tlodol Trust GenL•rèl FuEid 14.400 13,i9G Tol￿& 2023 ED.000 Rent£ receivEd Igr0551 Acccs5 to Ivork Graiil 8iiri1i51on- Rptiiri) of RRFM GrBr)i I'ooi uS￿d Returri of pensio￿ FuiiiS r or¥utknutlL-11S Total E3.39G £943 jslli £52.4 £9KI Eu £6,000 £17.7 rth46931 w￿lateS to ihe i&%tt17T 6 of C>ne >lans.. 11j￿5TFl[5l Rele33ing Resourc£5 for Mtssi(>r* Qijeeii Street- Upil6tin- ot AVkAS to Full Dirilal Syslem 14ope foi- Xmas Ma5aiine5 & Hai.'pylAiTrJs SILii'¥ Bookjots Diilf4elcl layviorker F¥iIir￿&t1?OFPe- Puriha5e oi AudioNt5ual Equipinent -aylon- Neiv 14obr.eboa,-d 17nfl Xrn Card5 FIoi1ii5h Disiouii¢ fogles Qiieen Slieet- libhi1￿￿7 Upg¥aiJK Easter C.farked Proje- Sclab), BaiJnois aFTrd f¢Jggs AyioTr- L-go Chiirch gDb>n Iloctd5 Bèy~ Pant15 urni5toii- Eco Gr#nts fo," Illindow5 Burnision- Lish. Vaity 20?3 £l,Oif7 £886 £20,000 £0 410 £.T70 £15,986 EZ.S00 £447 £J50 E.7.907 £5,477 £174 £2.31 £58,376 ru r2J.OQ(I r7,558 f.0 £0 £0 EO EO £0 f.0 £0 rorAL £2"..558 Stipeiids w¥ie paid 10 3 Sull-tiine Preshi'l￿ls 2p¢i% t%BIe. Gene.IBI ToÈal 2023 JJ.l* Stipenrlc & Allci4JoiitÈs Pl31itsnal Insurance CDplribiJlion5 f JV.?47 É14,196 £25,2G6 £J.8.30 £0 £S29 £J.871J E9.,3i8 Tolophonp/BroÈE5baTrd Travel Traininry lind relr)cation oxpenses Totèl £9.285 £2.494 E175,997 £1,677 £0 £37,084 £IO,CJG? £3.d94 £213,081 £175,233 * For HMRC purposes ThE lthÈtl)odist Lhurch is a tonnpited bodk. This nieans that 611 l¥hielhocliSleDiploy￿%1B l)oilies d¥e subjpcl to tlie Appienticosl)2p Ltrvy and The N4Ètl)tsdTSt Cliurrli 15 enliiled to ieceive just one allov¥cince of £15.000. ei)er8 Fttad £19,Oi3 £1.368 £1.141 E2¥522 21123 E19.7)5 El.262 Sèlart N2t50yJal 151$1i1ap.£e ColltEibut¥o. Perision ioiiiribi*tioiis £22.047 Tota156lasksand a>>ti£iatL¥4.c¢sts, E234,603 E197,2glO No eniployees rece￿Ied etn5Jlnyee benefits of rnore tlian QbO:000. ￿.11 st2lf Bie paid at 01 Al)ove the litrinu Illage. Pènsiori>' losi ordJined piEsiJVters deacons are Riembpr5 Df trTP fvieilioit15t lthini5te15' PeFl510n Sche1112 jfvIP¢lPSI. elleti15chetRe. Tlie SiirJ¥eYr ie'.sui: lieid i.-, 2014 thkl t¢i-' VFeSb,Iters Iiid I:-ÈaCOiisI aFe iiDI ￿￿P10 l'ees DF Ikje Cr.JiiF-, Foi sinipli:iti. FiOVI-_i'er. ..lien Liecilin£.k" IrE8ufè',Jcp IOnifiEpJI°,Ofi5 gur.sioR ttsnirlbuti￿AS. thp or￿s.eMPlO￿￿r, and'Ètnploi'eÈ' èEe used as the¥ WOU5d b2'.o 3.1 eitii)1g¥1ii& b LK.. On tlioj other liand, laii ellipla¥ee& arp cooliac(uall,i ernpioy::d liavi. l)ptL￿n of joiftin4 a dotilled beTi*fit pens.'on sclTrptne dEfall&od b¥ C.TC151t, ￿}unity1 L8"v.'orker. no membeE oi the firruil Pheetingcr CLT was in receTPt of any pa¥nTreTht forv*orkiiftderukefi ￿ehalf ol t1￿ C:rcait, 4l¥Ptou&hcotlaiTr tr￿l'e1 al￿ dmiAistraiton".Dstg l•JeY ieimbiisged. One T1￿4t￿t., whD PS the Ciribii te£retr&p<. ig ifE ¥eroiFt olB 5a12114 2nb Oe￿51￿￿ conli?èu?.,rns in r•5pect or her role and in(uireiJ tTal'el ÉcEt5 hknrp.e %¥Crk1p￿ PXTrE*ses au.'In6 tlpe'ieai The tripel costs of PIp5b}lerrJ BtlenEI -If t￿￿￿et èp.6 is ￿t delerininetS. rus GeneEal Funil fund 2023 Rèpairs and Coufjcil Tax liisurance £10. 836 £JG,97,7 £8.181 E5,911 £9 E8.181 E6,848 El 1, /58 £J.275 15, 730 £35.273 1£2,0081 later £78A £367 E361 £29,548 £661 £3Q,209 General Fund Tot61 102.4 f10, 182 £52,359 0,432 £50,432 £46,312 1.799 £108,319 Coi)iipxional Pfioiiiv Fttnd lev¥ on Soutli Cliff Sale Cor)nexional lÈvy on Moclel Trust Futtd opening bhliince £46,312 £9,a9.1 £71,631 £60,208 £48,Aii lodel TFUSt fvnds De5i8ii&iÈd funds Totsl £i.OOAJ n20 £660 Outsourced ftr,dnte £iipptsrt Learnin8 arid development StaiionLry, piintin? pociape 47nd Dth&r oflice expe$￿1.5 .476 £7.476 £d40 E8. 760 El,3é6 .052 £412 £9131 El.21 Bank ClikFg*s Jo¥ie r)ark and $11 turday B[ea￿kst expe115es Gift re W¥eylield Olive Superouftiei'ary PfeÈclier5 TNICP AdrDin cli&rges £41? £5,937 E8,J55 lJ,9.9/ 82,272 £8,762 E8.762 El,057 E25,771 £1,057 El.057 f24,891 £913 Trust [￿ndS I MCP ￿1￿￿36trt MTitecl Fijnd unils- revaloaliDii ! TMCP fLlani?67ed l-quily Ftind uTrtt5- revdliidtion Ivainl 11?,463 £11,905 E2tl,369 -£12.865 (alFy￿n￿ value Rei(a5ueo blf £159,700 EI80.175 EJ8O,175 £19.4.800 INRVI T.159.7C4) 2013 B8 Coacli Pioad, 1022 SfrQ 155 Coldyhill l.ai'.e, Y012 6SD 5,) lady EdilFI'5 Aveiiue, YQ)12 SPA J St. Joiin's Avoniie, YUI4 9AZ f.0 £18.3,11% £180,115 r19.1,800 .71I,S50 Éo EO fo £714,8SQ £0 EO EO ri1￿4 le:" 120:J' the fii£t f 100.000 arid on IFP exce5..1 and pstiThated 5elliP,-- f@e5. The rev8luatioi? tigure5 were la5l le¥4￿eWed iii 2918 ￿5-￿ on zsrale &eot's a:'Wice end there l)aiie 17731 c>Eivge5 lu m3rkel s51?ce .'TiaD5fRr&2*¥i.¢éo, fvi)d>,":: '.: .::: :.,- TlTri' tr￿115(e[ LLlvieon luiids iep¥esefitsa ly£insles Iyylii T￿lLp ID covei pro.orted d￿fI¢ll for thp }ear. 2Q24 3023 714,850 £7141,850 Note 852. 4riiiestri)¢nts with fMCP,: t.61anaged PAi¥ed Fvnd 1?5iTr£ Unit Total UD.i15 &.LJ3l&)I", rAIs Trust 864 1270 E6,i38 L239,815 TTIISt J2?41 30605 £?.IA7 £765 Yg/i £J1.5671 £74L¥88 £219,60Q TIu512Ji&q Totlil V*iliidiiYJr4 £165,787 088 £24f6,213 £395.-i62 Mgdel Tiust fund5 De5jLTfjated funds Notl*is>.:'::t*b¥ots aA"(fFrpi?3y.Qients. General Funil Totsl £5,161 £N2 112,-411 £3,03.4 £7JfU Stipenils & ass(Kiated co'.tS Pdid ii) agSirance InsLir4Ace C13.¥65 £3.116 E13,865 £3,116 El,500 £23,642 Coiiiributions f'FOft) thvrthes El.5QO f13,6¢12 £0 £0 £16,757 mo1￿1 fiust 2023 TriIsiees' InterL5t FiJnJ 7'FlSI g64 £1,006 z3G.833 £0 Trust i2?41 £29, 730 rrusi 1729Q Trust 217ts1 £1,179 '.12, 792 £74,715 Trust ?2048 £&J.2GG £179,076 Note:'.ASS.'"'":'£.rÈth!?CF ats'&A{uu"alS": . ModLI Trust Dt&ignèted fiinds Geneyal Filftd Total 2023 Coiiti&buttoi)s IroFI) tliiiEtnes Foceived in adviinte Indeperldenl Ix&iiiiiiatioii lee Oiitsourcpd fiiian£e &UPPOft Recliar¥es {D17t 1eieiv￿d in 2d¥S£i £49.479 £261 £i,o?o £0 Tiade Clef&.io¥s £0 E49,4791 £0 Tangtble rtxed Assets Cost ot valuation Oihorf*Ked assets includilis Trotor vohi.I r¢'c?sni5Ee. Str￿* t%chan ar heid in coniniD? Futids. Go£p￿ ef>#Li? irj￿￿StV1￿Trtsi IcotllP3T%:i*, unil IrLISLS or otHer %o5gier.:l¥e iriVe5tpient s<_lents £24b.213 Ise¢J,'IlJ¢S *Ot Iisled on a rv.QsryfliSEd S.:o¢k itc, Casli Sieltl as pèri 9f the Inv￿(n..eTht PD¥lfulio Otlier i>ivegtine*ls Total E2d6,213 Charge in investmentvalues E296.262 EV Le55.' disptr5als it (￿[ryIn￿.￿allIe -E7,1.418 Addlldoductl-. ., E2,Y.369 £)4fJ.21 j DECLARATIONS Treasurer l coniln that I h￿ve prepared *he c>ccounts Irom Ihe re￿0[￿s of Ihe C.,rGuil Ihal ihey',p-ILFde all funds iJndei the control of ihe Circuit SiynatLJre ol Treèsurer Date ' 113115 Name Carol Evans Address Weslboiough Methodist Church. westboroL￿h. ScarboroLigh, Y011 1 TS Presentation to the Circuit Meeting for approval. S confiFn Ihgt Accounts presented to l.*e Cir-ijit SAeeFing on and i'iere aoproved Signature of the Chair of Ltte meeling Name of the Chair of the rneelirig Revd Graham Viorgan Dale Indepèndent Exaniiner's Rtport ttr Ihe Trustees ol ttte North Yoiksliirè Coast Method5St Circuit Th5 R*p¢ri 1> *n InLt (&ir¢ii,'l A4-coisns lot Ihé yE•F 31 Re¥ponsibilifles antl b4iS15 of report As tho r.hi?111s's ifusipEfjS yoii al￿ rpsp=n5.Lle lor Ilie Pidlktira￿on ol lh* accotsiils In apknDrtsnp.6b s.'.ih Ihe I rew-1 In resFECtcl mi exdITl￿￿J￿P. olth& charty Sacec￿lj,.¥.-ar1￿LI ttJL.l LiiYJe,' 144 L'4 l ￿v& f(,1￿?￿￿￿ allllv *MlicBI>-A. D-.￿l￿rIs gt¢eri by Ihe Chai￿￿ utsnmi¥si).i ond&r sÈ¢lis*p Id-lal.'b'. Gf':,f A=1 IndÈpeTrdent ExamiTher's Slater*nÉ t￿.£ clT&[J'.i's gri5J I-.,rC￿la￿>.C￿&=# OC-JIoure=2tTrirEI l-..L151 to & rpTr?¥f£￿[ OT ic ￿￿.1 IpSLeJ I havo trom>p.iéd nyoiniY8iion. chnlhrm Inèi ra rrlaleii￿1 T￿￿￿￿￿[5 44l'e io mi 4tt?rilvJn in acco￿￿king r￿cOrdS r.ot II¢pi irt rerJ5er.l L.han4y ds IiyLlpfu%l L'y qP¢ii?Ib 1 30 01 ', ALÉ% J Rel-Thant PtolessEJn3Tr qLia41r k2trn cr M.JK Date ,qolLiilZo ORTH YORKSHIRE COAST ETHODIST CIRCUIT Registere(I Chtsrity 140. 1 1 ?61oj FINANCIAL STATE ENTS (accruals basis) for the year ended 31 August 2024 North Yorkshire Coast Methodist Circuit Circuit No. 29131 statement of Financial Activities (SOFA) for the year ended 31 August 2024 Uviestrictrd Fu￿$ NloaelTFUSt Fuwjs Totès Notes General Fun funds 2Q3-24 202?-23 D051atiolls les3cies £3,.100 E3,4QO £9,271 Incvme tsoni monetary invéslrDrnt5 £19.67ij £21.316 É16.503 liitomè Irom itt"estnieDI proppTty liTrcoiTre Frotn cliaritshle actrjities £216,5 ¢-116,564 f)JO.SSi Cdpiial r￿e1VtS Grants TotullKom clwrit¢ybleuctivities f221.604 £195.4i7 £ts f241,280 £236,655 OtlTrer Ihai.'t.?l)l£' iricom 137.J9b £CJ2,41 £6,CVO rotafrhgritoble (ftcome £23Q.150 £0 £293,770 £242.65> £239,401 t230,1￿) £0 £469,551 E242 655 ' ÉKpeMJilitr#::, EX￿?￿[tlE￿ or(-harttabJe artivibe5 E77,<58 58,375 .&7Jar￿s (J a55L¥.j3trpO cos15 i197.i12 1.37,.)84 L ?34.EJ3 E197.380 ProFkrt L29.548 f661 É20.209 F35.?73 io EéO.2US £108.319 L71.631 oiheroulpoirigs li £i5.i14 .057 £32.272 Total rharitsble expenditure £312,988 114,471 EQ £427,4ill £394.832 Net income be•¥ore investrnent ainsfl10s5esl -É73.588 È115,679 EO E42,091 -E153,177 In'JestYeiils Nc.¢ F?j1151{Ic5s￿sI Oli cliswsa.s IFvi2Iu31EO￿4 et1rY￿rn1￿glID￿tg0ill41 re50vrce5 before trn5ftrs -£165.lJ42 TTafisYtT5b￿tv￿e￿n tUnL13 £6>.t) P.ecL455ificAlion ol funds -E8,588 £75,048 £0 £E6,460 -£165,012 Total fund5 byoughtforbvard £3￿3.84￿ £379.341 £0 El.22&,181 1.393.223 Less.. Futuie f)f giaiil Grant ￿51>¥MentS PFOYlSions relis3 £8￿7,252 £454.589 EO £L294,6..11 £1,2ZS,181 CiTCUTt 29131 North Yorkshire Coast Methodist Circuit Balance Sheet as at 31 August 2024 Geiieral IUnrt5trktedl Model Trust Funds IUn¥estrirtedl ResÉritted FL**kls Totsl$ 20>4 Totals 2023 TonFible filed 8%st Bsi £-,14.È5Qj £?ir*,650 IIy¢s1￿￿.t1)E9u￿r1iL￿s EO es? 21..[ )lJ E2.;6,)1 I £2QG,262 rotsl fixedatsats E714,8SQ £246.215 £0 £961.053 £1.011,112 ¢iiirontA%SÈts Doblofx 3no Pfepaifneiits BS3 £16.73? Deposit Ftsnds IT%l¢£PI t￿4 El/90'1- 119.0?C:. 74.715. |rr-.iitial Fitt&n￿ 8card Oeposiig C9:,33Lj 16,487., Cash at Bank Ai7d i¥} hand E174,88Q £208,176 £0 £383.057 £252,032 QjrrentlhbiiltlÈs:":': B55 49.479 £411 479 135,763 Grant5 Pdyable ¥yiiliiii l year £49.47g E125.402 £20B,176 £0 £333,S711' £217,069 £8lkl.252 E45438g Éo EI2W,541', LI 22A,181 £84%1,252 £454,389 £0 EL294.tr¢1 El.228,181 Unrestricted.. 6eneral Fund F.840,P52 £8.aO,?.52, £848,8,10 Model TFU51 Fuiid% i454 3¥￿.: E.47y.?.11 |Totsl untestii.rted E454389 £1.2W.611', El,228.151. Restrittrd Funds Totat*ittid>: E84O,252 £454,389 £0 £1,294,S41 £1,228,IBI OFITFi ¥DR￿MIRE COAST Iv7ETHOD5ST CIRCUIT otes to the accounts foi" the year ending 31 August 2024 il A¢¢gunting stand3rd The financial statemeiits have been prepared sn accordance wf(h Accounting ond Reporting by ChcJrities.' SttstEmerJt of Recommended Pructce (SORP) appSic3ble to chariTie5 F)reparing their accounts in accorddnce with the Financial Report5llE Stanu3T-d applFcable in tne'JK and the RepublEiC of Ireland IrRS 1021 (effective from l Januhry 20151- Icnarilies SORP IFRS IOdl}. Lil Public benefit entity North Yorksrfi,-e C03St ,'theLhcdiEt LlfCL'it defiji ¥tÈOli Oi a ptablic benefit entity under FRS I￿02. A55ets 311d liabtlities are ifil&ially re£og*i *sea at niSi¢rical=ost transaction'ialue uD.1o>S Otherwise sta.èd ID. the releiiant aCCOL'nting pcisc{ notrlr Jj b!low. These 3ccounts have been pr4spared on the of historical cost ￿xCU ¥ that investments are sliokvii èt their markèt value at the und of ihe year. Tne ac£ru31s basis has been used and trustees present 3ccounts that show a true aRd fair Vie￿ of tha Circuit's financi21 position 3nd 3£tivities. tyl Content The financial informatlOTr Drusented is ielevanL, reltabln compar3ble 3nd complete. Iwhere estin)2tés are usect the5E are b35ed or¥ exFeFience, re5e3r=h 3nd judgrmènt. The acLount5 prèsented £st?rling. rounded to th￿ nÈare5t Douod. VI FRS 102 SORP2015 The 2E£OUnt5 ilave ~Pared FfI a-=e,-H2sIC£ i'4ltF: &ppltcat)IE cnjritri IcV# ¥n fn.glaJ)U. Ihis bO.￿lig tp.￿ Ch2ritle5 Act 2011 and Sl 2C08[629 IchB Y'"ti:- Accouiiting BThd R2porting qEgul&tlOll51 and, per,ding tlie makinE of replèceniènt R&guldtioDs spocific to SORP-D15 iri accorcaiice i¥ Re-.814iidj of Sl-0081529, tP+e charity trusteés have aeoa*Led frgm the Teou&rep.e?i L OT 8eE.8155 o¥ fo?IOWlll¥ 50RP i rR£1021 irystead of SORP 21￿5 to the eKtent necessary to give a true and lair vipw in the circumstances. VLI Going concern Based on the monetary as5Ut5 and human rÈsoiirces av2ilable at 31 AugL'st ?024, the trustees believe that the Circuit is a goinu concern. vil} Consolidation The Circuit h£5 denominational regulatory over5igh"L in respect of the work of Churches within the Circuit but has no legal or operation21 cotttToI of thos￿ CnLircno5 and *l..eir governTfig bodies except in extreme £iTcumstance5. For ih15 reason. the financial siaremenLr of Chui h&s ¥vithiii the ￿irCuIt are noL consolidated into tFEtsse financial SLatements. vtii} Income recDgftition Income 15 brouglt into accoLyp.t V¥heri tThe￿ ie an er*titlenient aD_d itye ￿1￿0}unl IS rtsason¢ble measurable once it is more thaEI. lik'ely tly ar not tb.a; t.4e erontsm&= beneTIt 05 the invoye fv&ll be forthcoming. The Circuit acts as agent in tiyc TnattÈrs= the Collection from churcheg a￿d payment ci'er of their contribotiotts tv VETIOU5 Fund5 controlled and administèred bv The MethoDist Church - 'Ccnnexional frunds,. the adrninistration lapplication, collprtioq and disbursement) of grants reqL¢estec5 b¥ Churches within the Circuit froni, but qot limitEd tc, LFe District and Cor,nexioE). In all th*e Matt￿#5 *h- trailSECttCiiS gre not rc4 d in th£ SOFA be=au<¢S th£y *r£ the incgfflEJ of either the ConDexion or church￿ as aopropriatE. 1115t-ed irarysacticns are d*sc105od in tne N'otes to thé.4ccounts Es required SOP.Pj FR51021. module 19.12. In acc?4-dance wtth the uh3fiiies SORP IFRS 4 O£1. tbe time of l'ol￿￿.tee￿s Is not i ecoDnt¢ed. Expendlti¥rè Thi¢ 15 recogniséd vihen a 112bjl¢ty Is incurred, o,- 3 constructiv& obliclation arise5. Fr4hore the amoLnt is reliably measurable and it is conssdered more likely t￿￿n not that there w¥ill be ary outflo¥&i of economic benefit. xl Grants Grar,Is mL)dÈ bytho Circuit from it9 rtjnds Bra recogni£ed iii full At the time of atsrDEnieni to make a grant. where ihe actual c05t is determis)èble. b4Jhere the gi'ant to De heet. xil VAT Since the Circuit Is riot VAT registered, all input VAT is charged with the expenses io which tt refer5. xiil TanEsble fixed assets These arè c3Pltali5ed if they can bé usad f(sr more tl)ary or4e yeèr, and individually cG)t 3t least ¢250. Tho freeh¢ld resideniial prop4￿￿1 I. jr shovir& >n-I17e *cc.Jdni. lue lèftèr d-duc'4ion of thè Connexional Levy and IèEa5 and 3ge.nt'S TYe5 Lhèt isjould tsaia.')ie on".hè rÈ5@ I'aiu'e3. ". time to tirne ttie CircL'It m.ay be requ5r#d to assume respoYs,.bilit¥ for Cb.ÉJrcb. pretnisE5 iollowing clostsre ènd C¥Puaiion of i14crshill. I h15 results Lhè Cirknuit brcaminÉ5 Mail 3g'" g I iur&aaS fo," tle Fi-p-tt¥. At that tilll.ts thé proporty is recognised as èn assel at its ènt I￿￿**￿ net S31& price as detE,"rriined v a PTrofessional i12(Ua&!on and after taking into consideration thts levk to c%?rged b¥ the Coi?nexion. Any eXF@ndit￿ra on such a¢sèts, if held for reinvestment of tho prc£eeeds, a5 the truiees determine, thiTt is lik&l¥ to enh3nce tale V451ue is c3Pltalised at the time the expenditure is incurreEI. lJlih.trre the Pracèeds are lal&ended to spent on aet%'it1È5, the property is iiicluded current 3S5ets èt the lowèr of cost or reaSisab18"oalti@. x¢i*lal Monetary Investments The Circust 5 ifiVeStmep.t5 in monètary as5tsLS Ciè5Stli&d 3s basic lir>èr4cial insLrLimenLS tsnder FRS102 are held b,i"he i ru5te# for k/set4odi5t fhuL ch Purp= -e5 rT>ACPF 3S CUit?OiBr* *rusteYS. Tile ¢aluatiof.5, at m&rker Value, are those provided by TV,CP. The up.reo115ed EairslÈosses af15kig OTh iESll*tniAntS thE 4 th.: ¥'.ear 4>re shown in the SOFA and in Note 12 balow. xiiiIPJ} I￿Vestment Property From time to time the Circuit may hold residentail property Iformerly mans@sl vihich is stsrplus to its normal staffing requirements. Whon this is the case and it is anticipèted th3t tSie propert'1 15 unliko5y to bÈ used a5 a mans within a period of two yeats. thp property is classified as InvestmÈnr Property Iwheth&r le: out oi Trotl and any lets are at rtTrarket rates unlÈss there is a compelltng reason not to do so furtherance of the Circitsit's charitable objectives. xiv Receivables and Payables- Bank and Cash18asic Financial ittsttument51 DebtDr5 arè 5t?ted at th& amounts owed to the Csrcuit or Frepdid_ Creditors are rècogni5ed at Settlement amount or tha 2moJi nt advanced to The Circuit. x¥ Methodist Connexiohtyl ruftds The TrJl£=. hodist Churcr, Connexton rai3e> a5SeSSlr lQP.ts agatnst fircknitrs aiL d these ¢re ￿La1￿ qJF ?rterly to thEi-. Dt51r¥cts. The C*Yc¥it i eceive5 -tsntributi)ns from th¢> Ctitsr£4es in ¥hE Cir£kntt. The Oi>tri¢t gUèrteTI,I to I he MÈthorlist Church rund niost of the sum r@c4£yad froiE) Cir¥u¢.s. A small sum is fytainsd by *.4e Disiri£¥ to RieEt It5 own COSLS. The Clrcuit may ict as agent Tor hoc collÈactions for Vofiou5 fuYd< ccnrrolled 2dmi4>itered by The lrfethodt- Church. xv% Funds The trustees have aclopted a policy for all unrestricEed re5Ctves Ktrhich li detailed irs the I rusteES' Report. xvii Ettdowmont funds Where Circuit holdi nioney vh3t may not be spent and niust be retain￿￿ las capftall"IO EèiTref3-ie. an income the rnoney or assèt5 to be ret3ined are classified a5 Endovirneiit Fund. The ¥apit31 ivill be sl)Okvn in the balance sheet in E columTr for entiovrfment fu'nds. The incafP.E ¢*ay be restrirt+ri d?p&v,ding u?on ttrie t*rni> O"J e.4dtswiTent. (The Circuit does not Cui rently havé ¥ny endowneryt Tunds.) xix Ministers, manse costs The Ct.-cuit is reqvired to provide accommod&4ion for each mTrnieter th.? Lircuit ap,rJ tp.eir faniilies and tb.is is seen as è bènefii +0 the Circuit. mtnlst*￿ ore no:-tr,3$1ii e%pected to occup'i tha man5 ro¥ided for theni, although the CTrrcuit CLirre￿Èl,I hès onè p3rt-',iYYTrè mip. ¥. iiihts li liiJir..g ID. their own accomodBiion. I Circiiit beays the cost of repairs, rnainLenance. bLllidirigs tnsur3n-è, -outl¥il TaK and ,￿ate1 ch3.. ¥- {gur￿5 ère not Separately disc105pd as be¢ieffts-in-kind ror min55t*¥ry ¢S ¥K.ail4C aoes not seek tro tax these recetPiS.'r* the li ands cif ministers. CFB.. Central Fi11ance Board of the Mèthodist Church r)ènages a Common Deposit F¢Jnd and 3 series OT pooled Investment funds lor Mtstnodisr trntitierJ in Gr&èt Britain and provides ir¥v#Jftmeni Bdyicè to those entities. ChuY¢h: 3 group of members Trom feiverthan 10 to more-lhan 300 Circuit: a group of Methodisi Churches riea-. each. Ciher. typically betkveen 10 av.d 30 Cir¢uFt Meèting.. The trL'steEs of lh& Circuit, riio>l gf ifj,horn èr& appoint&d b'/ trhsir loca5 Churchès ènd oth&rs bv virtue of 3 r£Trle they undertake for the Circutt ￿ndItsr their locèl Ch(Jrches. CLT Icircuit leadeiship Teaml: A groLTP of Circuit trustees resoonsible for the day-to-day administrètion and policy formulation of the Circuit. fJenerally tho CLT coniprises the Presbyters and Deacons stationed within the Circuit ènd the Circuit Stewards Circuit Treè5urtsr. CMTF.. Circuit Model Twst Fund Connexitsn= The Il lefrhodiS1 Chu-, ch in Great &..;.tu*f, '.v4ich in=5udes;he Wiead OfFice at MtitP.odist CkrLfrch House. all Ide*hodisE Districis, Circbit5 and Chui cllES',I, Jieat Bfitairi. Comnexional Funds.. Thrt DÈ-igr.aied 2nd/Gr fie5trirttrd Futnds r¢eld and administered b., tho Connexion in furFlieraiice of it5 chariL?b!e 3riri m6>iOn obie£tive!. District-. o group of LCnK'.I￿O￿5 Circu¥ts, 15 and 30_ DAF.. District Advance Fund FRS.- Financial Re￿Orting Standard HMRC.. Hii Majerty's RevEnbe and Customs MMPS: R4etlic)dist M(nisters' pe￿$l0￿ Schenie Piesbyters lincluding Superintendentl: Pr0b-t(tr￿￿ or Ordained Ministers andlcr Pèa=ons who have pastoral and admini5trativo responsib.'lits' ior fhiJrche5 *iYltF.in 4.he Circui¥ SOFA.. Siatement of Fiii anci&1 Act[￿ltIeS ¥&temeii t Oi TMCP: Trustees for Methodist Church ?Urp05￿. the legal owner and Custodian Tru5tae of all Methodist Model Trust prooèrty. includinLT l￿E3cleS, EndoiNmtsiYKS 8nd Accuniulated Eunis MDd@I'IIu5l tunds Resiiicted Generi31 r.und 2024 £600 Leuacy l¥o*r F.li7.3tieth Lon6 £2,000 800 12.of £soo E$.671 ,7,JEOO £3,400 9,371 I he iiriiiit now coniptis@E lt Chiiril.. Scalby Melliot￿lS1 Chijicli SheiDurn,wlf tliodisi i.horcl? Snainton l-vlÈiliodisl Lhurcli WreyField DrikJE Methodist ctitsitk jScaiborou8hl Ilodel Tttisi frjnds Ca'pttaft¢¢l'iiJts:' CI05efl £htsrch (net of Cf P LEI'YI ReS4iiiied frind5 Ger5Efdl Fuiid 2024 £0 £175.781 i175.781 £0 £17Jf,781 £0 E175.781 £0 tlodol Trust GenL•rèl FuEid 14.400 13,i9G Tol￿& 2023 ED.000 Rent£ receivEd Igr0551 Acccs5 to Ivork Graiil 8iiri1i51on- Rptiiri) of RRFM GrBr)i I'ooi uS￿d Returri of pensio￿ FuiiiS r or¥utknutlL-11S Total E3.39G £943 jslli £52.4 £9KI Eu £6,000 £17.7 rth46931 w￿lateS to ihe i&%tt17T 6 of C>ne >lans.. 11j￿5TFl[5l Rele33ing Resourc£5 for Mtssi(>r* Qijeeii Street- Upil6tin- ot AVkAS to Full Dirilal Syslem 14ope foi- Xmas Ma5aiine5 & Hai.'pylAiTrJs SILii'¥ Bookjots Diilf4elcl layviorker F¥iIir￿&t1?OFPe- Puriha5e oi AudioNt5ual Equipinent -aylon- Neiv 14obr.eboa,-d 17nfl Xrn Card5 FIoi1ii5h Disiouii¢ fogles Qiieen Slieet- libhi1￿￿7 Upg¥aiJK Easter C.farked Proje- Sclab), BaiJnois aFTrd f¢Jggs AyioTr- L-go Chiirch gDb>n Iloctd5 Bèy~ Pant15 urni5toii- Eco Gr#nts fo," Illindow5 Burnision- Lish. Vaity 20?3 £l,Oif7 £886 £20,000 £0 410 £.T70 £15,986 EZ.S00 £447 £J50 E.7.907 £5,477 £174 £2.31 £58,376 ru r2J.OQ(I r7,558 f.0 £0 £0 EO EO £0 f.0 £0 rorAL £2"..558 Stipeiids w¥ie paid 10 3 Sull-tiine Preshi'l￿ls 2p¢i% t%BIe. Gene.IBI ToÈal 2023 JJ.l* Stipenrlc & Allci4JoiitÈs Pl31itsnal Insurance CDplribiJlion5 f JV.?47 É14,196 £25,2G6 £J.8.30 £0 £S29 £J.871J E9.,3i8 Tolophonp/BroÈE5baTrd Travel Traininry lind relr)cation oxpenses Totèl £9.285 £2.494 E175,997 £1,677 £0 £37,084 £IO,CJG? £3.d94 £213,081 £175,233 * For HMRC purposes ThE lthÈtl)odist Lhurch is a tonnpited bodk. This nieans that 611 l¥hielhocliSleDiploy￿%1B l)oilies d¥e subjpcl to tlie Appienticosl)2p Ltrvy and The N4Ètl)tsdTSt Cliurrli 15 enliiled to ieceive just one allov¥cince of £15.000. ei)er8 Fttad £19,Oi3 £1.368 £1.141 E2¥522 21123 E19.7)5 El.262 Sèlart N2t50yJal 151$1i1ap.£e ColltEibut¥o. Perision ioiiiribi*tioiis £22.047 Tota156lasksand a>>ti£iatL¥4.c¢sts, E234,603 E197,2glO No eniployees rece￿Ied etn5Jlnyee benefits of rnore tlian QbO:000. ￿.11 st2lf Bie paid at 01 Al)ove the litrinu Illage. Pènsiori>' losi ordJined piEsiJVters deacons are Riembpr5 Df trTP fvieilioit15t lthini5te15' PeFl510n Sche1112 jfvIP¢lPSI. elleti15chetRe. Tlie SiirJ¥eYr ie'.sui: lieid i.-, 2014 thkl t¢i-' VFeSb,Iters Iiid I:-ÈaCOiisI aFe iiDI ￿￿P10 l'ees DF Ikje Cr.JiiF-, Foi sinipli:iti. FiOVI-_i'er. ..lien Liecilin£.k" IrE8ufè',Jcp IOnifiEpJI°,Ofi5 gur.sioR ttsnirlbuti￿AS. thp or￿s.eMPlO￿￿r, and'Ètnploi'eÈ' èEe used as the¥ WOU5d b2'.o 3.1 eitii)1g¥1ii& b LK.. On tlioj other liand, laii ellipla¥ee& arp cooliac(uall,i ernpioy::d liavi. l)ptL￿n of joiftin4 a dotilled beTi*fit pens.'on sclTrptne dEfall&od b¥ C.TC151t, ￿}unity1 L8"v.'orker. no membeE oi the firruil Pheetingcr CLT was in receTPt of any pa¥nTreTht forv*orkiiftderukefi ￿ehalf ol t1￿ C:rcait, 4l¥Ptou&hcotlaiTr tr￿l'e1 al￿ dmiAistraiton".Dstg l•JeY ieimbiisged. One T1￿4t￿t., whD PS the Ciribii te£retr&p<. ig ifE ¥eroiFt olB 5a12114 2nb Oe￿51￿￿ conli?èu?.,rns in r•5pect or her role and in(uireiJ tTal'el ÉcEt5 hknrp.e %¥Crk1p￿ PXTrE*ses au.'In6 tlpe'ieai The tripel costs of PIp5b}lerrJ BtlenEI -If t￿￿￿et èp.6 is ￿t delerininetS. rus GeneEal Funil fund 2023 Rèpairs and Coufjcil Tax liisurance £10. 836 £JG,97,7 £8.181 E5,911 £9 E8.181 E6,848 El 1, /58 £J.275 15, 730 £35.273 1£2,0081 later £78A £367 E361 £29,548 £661 £3Q,209 General Fund Tot61 102.4 f10, 182 £52,359 0,432 £50,432 £46,312 1.799 £108,319 Coi)iipxional Pfioiiiv Fttnd lev¥ on Soutli Cliff Sale Cor)nexional lÈvy on Moclel Trust Futtd opening bhliince £46,312 £9,a9.1 £71,631 £60,208 £48,Aii lodel TFUSt fvnds De5i8ii&iÈd funds Totsl £i.OOAJ n20 £660 Outsourced ftr,dnte £iipptsrt Learnin8 arid development StaiionLry, piintin? pociape 47nd Dth&r oflice expe$￿1.5 .476 £7.476 £d40 E8. 760 El,3é6 .052 £412 £9131 El.21 Bank ClikFg*s Jo¥ie r)ark and $11 turday B[ea￿kst expe115es Gift re W¥eylield Olive Superouftiei'ary PfeÈclier5 TNICP AdrDin cli&rges £41? £5,937 E8,J55 lJ,9.9/ 82,272 £8,762 E8.762 El,057 E25,771 £1,057 El.057 f24,891 £913 Trust [￿ndS I MCP ￿1￿￿36trt MTitecl Fijnd unils- revaloaliDii ! TMCP fLlani?67ed l-quily Ftind uTrtt5- revdliidtion Ivainl 11?,463 £11,905 E2tl,369 -£12.865 (alFy￿n￿ value Rei(a5ueo blf £159,700 EI80.175 EJ8O,175 £19.4.800 INRVI T.159.7C4) 2013 B8 Coacli Pioad, 1022 SfrQ 155 Coldyhill l.ai'.e, Y012 6SD 5,) lady EdilFI'5 Aveiiue, YQ)12 SPA J St. Joiin's Avoniie, YUI4 9AZ f.0 £18.3,11% £180,115 r19.1,800 .71I,S50 Éo EO fo £714,8SQ £0 EO EO ri1￿4 le:" 120:J' the fii£t f 100.000 arid on IFP exce5..1 and pstiThated 5elliP,-- f@e5. The rev8luatioi? tigure5 were la5l le¥4￿eWed iii 2918 ￿5-￿ on zsrale &eot's a:'Wice end there l)aiie 17731 c>Eivge5 lu m3rkel s51?ce .'TiaD5fRr&2*¥i.¢éo, fvi)d>,":: '.: .::: :.,- TlTri' tr￿115(e[ LLlvieon luiids iep¥esefitsa ly£insles Iyylii T￿lLp ID covei pro.orted d￿fI¢ll for thp }ear. 2Q24 3023 714,850 £7141,850 Note 852. 4riiiestri)¢nts with fMCP,: t.61anaged PAi¥ed Fvnd 1?5iTr£ Unit Total UD.i15 &.LJ3l&)I", rAIs Trust 864 1270 E6,i38 L239,815 TTIISt J2?41 30605 £?.IA7 £765 Yg/i £J1.5671 £74L¥88 £219,60Q TIu512Ji&q Totlil V*iliidiiYJr4 £165,787 088 £24f6,213 £395.-i62 Mgdel Tiust fund5 De5jLTfjated funds Notl*is>.:'::t*b¥ots aA"(fFrpi?3y.Qients. General Funil Totsl £5,161 £N2 112,-411 £3,03.4 £7JfU Stipenils & ass(Kiated co'.tS Pdid ii) agSirance InsLir4Ace C13.¥65 £3.116 E13,865 £3,116 El,500 £23,642 Coiiiributions f'FOft) thvrthes El.5QO f13,6¢12 £0 £0 £16,757 mo1￿1 fiust 2023 TriIsiees' InterL5t FiJnJ 7'FlSI g64 £1,006 z3G.833 £0 Trust i2?41 £29, 730 rrusi 1729Q Trust 217ts1 £1,179 '.12, 792 £74,715 Trust ?2048 £&J.2GG £179,076 Note:'.ASS.'"'":'£.rÈth!?CF ats'&A{uu"alS": . ModLI Trust Dt&ignèted fiinds Geneyal Filftd Total 2023 Coiiti&buttoi)s IroFI) tliiiEtnes Foceived in adviinte Indeperldenl Ix&iiiiiiatioii lee Oiitsourcpd fiiian£e &UPPOft Recliar¥es {D17t 1eieiv￿d in 2d¥S£i £49.479 £261 £i,o?o £0 Tiade Clef&.io¥s £0 E49,4791 £0 Tangtble rtxed Assets Cost ot valuation Oihorf*Ked assets includilis Trotor vohi.I r¢'c?sni5Ee. Str￿* t%chan ar heid in coniniD? Futids. Go£p￿ ef>#Li? irj￿￿StV1￿Trtsi IcotllP3T%:i*, unil IrLISLS or otHer %o5gier.:l¥e iriVe5tpient s<_lents £24b.213 Ise¢J,'IlJ¢S *Ot Iisled on a rv.QsryfliSEd S.:o¢k itc, Casli Sieltl as pèri 9f the Inv￿(n..eTht PD¥lfulio Otlier i>ivegtine*ls Total E2d6,213 Charge in investmentvalues E296.262 EV Le55.' disptr5als it (￿[ryIn￿.￿allIe -E7,1.418 Addlldoductl-. ., E2,Y.369 £)4fJ.21 j DECLARATIONS Treasurer l coniln that I h￿ve prepared *he c>ccounts Irom Ihe re￿0[￿s of Ihe C.,rGuil Ihal ihey',p-ILFde all funds iJndei the control of ihe Circuit SiynatLJre ol Treèsurer Date ' 113115 Name Carol Evans Address Weslboiough Methodist Church. westboroL￿h. ScarboroLigh, Y011 1 TS Presentation to the Circuit Meeting for approval. S confiFn Ihgt Accounts presented to l.*e Cir-ijit SAeeFing on and i'iere aoproved Signature of the Chair of Ltte meeling Name of the Chair of the rneelirig Revd Graham Viorgan Dale Indepèndent Exaniiner's Rtport ttr Ihe Trustees ol ttte North Yoiksliirè Coast Method5St Circuit Th5 R*p¢ri 1> *n InLt (&ir¢ii,'l A4-coisns lot Ihé yE•F 31 Re¥ponsibilifles antl b4iS15 of report As tho r.hi?111s's ifusipEfjS yoii al￿ rpsp=n5.Lle lor Ilie Pidlktira￿on ol lh* accotsiils In apknDrtsnp.6b s.'.ih Ihe I rew-1 In resFECtcl mi exdITl￿￿J￿P. olth& charty Sacec￿lj,.¥.-ar1￿LI ttJL.l LiiYJe,' 144 L'4 l ￿v& f(,1￿?￿￿￿ allllv *MlicBI>-A. D-.￿l￿rIs gt¢eri by Ihe Chai￿￿ utsnmi¥si).i ond&r sÈ¢lis*p Id-lal.'b'. Gf':,f A=1 IndÈpeTrdent ExamiTher's Slater*nÉ t￿.£ clT&[J'.i's gri5J I-.,rC￿la￿>.C￿&=# OC-JIoure=2tTrirEI l-..L151 to & rpTr?¥f£￿[ OT ic ￿￿.1 IpSLeJ I havo trom>p.iéd nyoiniY8iion. chnlhrm Inèi ra rrlaleii￿1 T￿￿￿￿￿[5 44l'e io mi 4tt?rilvJn in acco￿￿king r￿cOrdS r.ot II¢pi irt rerJ5er.l L.han4y ds IiyLlpfu%l L'y qP¢ii?Ib 1 30 01 ', ALÉ% J Rel-Thant PtolessEJn3Tr qLia41r k2trn cr M.JK Date ,qolLiilZo