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← Trustees For Methodist Church Purposes

2025-08-31-accounts

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Trustees for Methodist Church Purposes Charity Registration Number 1136358

Trustees Report & Accounts for the year ended 31 August 2025

Trustees for Methodist Church Purposes

Report and Accounts 31°' August 2025

Trustees for Methodist Church Purposes

" TABLEOFCONTENTS
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BOARD MEMBERSHIP 4
TMCP TEAM 5
AIMS AND PURPOSES OF THE TRUSTEES FOR METHODIST CHURCH PURPOSES 5
PUBLIC BENEFITREQUIREMENT 7
STRUCTURE AND GOVERNANCE 7
OUTCOMES 9
WHERE TMCP PROVIDE SUPPORT / COLLABORATION WITH THE CONNEXIONAL TEAM 11
MOVING FORWARD 13
REVIEW OF FUNDING 14
FINANCIAL REVIEW 15
RESERVES POLICY AND REVIEW 18
INVESTMENT POLICYAND REVIEW 18
CONNECTED ORGANISATIONS 19)
RISK MANAGEMENT AND INTERNAL CONTROLS 20
STATEMENT OF TRUSTEES’ RESPONSIBILITIES 21
RE-APPOINTMENT OF AUDITOR 21
INDEPENDENT AUDITOR’S REPORT 22
STATEMENT OF FINANCIAL ACTIVITIES 25
STATEMENT OF FINANCIAL POSITION 26
STATEMENT OF CASH FLOWS 27
NOTESFORMINGPARTOFTHEFINANCIALSTATEMENTS 28-40

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Office and Advisers

Office

New address (effective from 20" October 2025)

The Hive 47 Lever Street Manchester M1 1FN

Previous address

Central Buildings Oldham Street Manchester M1 1JQ

External Auditors

MHA 9 Winckley Square Preston PR1 3HP

Solicitors

Brabners Horton House Exchange Flags Liverpool L2 3YL

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Board Membership

The Revd Rosemarie E G Clarke

The Revd Paul Davis

Mr lan C White (Chair)

Mr Peter Baffoe

The Revd Rodney Hill (resigned 31° August 2025)

The Revd Dr Jonathan Hustler

Mr Christophe Borysiewicz

Mr David James

The Revd Gillian M Newton (resigned 31* August 2025)

The Revd Jennifer Pathmarajah

Mr John Jefferson

Mr Thomas Rattigan

The Revd Philip Wagstaff

Changes in Office:

The Revd Rodney Hill and The Revd Gillian M Newton resigned from the Board with effect from the 31st August 2025. The Board is very grateful for their long service as Trustees and for Revd Hill’s contributions as a member of the Grants Committee.

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TMCP Team

Anne Goodman, as Chief Executive, oversees a professional team of 22 which comprises Finance, Legal and Corporate Support Services sections. They are responsible for ensuring the Board’s functions and responsibilities as trustees are discharged on a day-to-day basis. The Chief Executive and Senior Management Team also work closely with the Board and Executive Committee on strategic and planning issues.

The Senior Management Team comprises:

Laura Vare - Head of Legal and Constitutional Practice (TMCP) Nicola Sivori - Finance Manager

The Chief Executive and Senior Management Team continue to work closely with the Executive Committee and external consultants to implement new systems which are designed to simplify and expedite key processes and assess the effectiveness of workflow and performance.

Staff training and professional development needs are identified by managers through the salary and performance review process. This ensures the team remain up to date in terms of current legislation, enhances skill sets and satisfies the requirements of individual professional bodies. The Board holds a ‘season ticket’ with an industry training provider to help facilitate this.

The Salary and Performance Review Policy, which includes an updated appraisal system, continues to be implemented, when objectives and performance measures can be reviewed and assessed.

As in recent years, there continued to be an increase in the volume of work during 2025 primarily due to a sustained increase in property transactions and development projects. The Board acknowledges the continued challenges which this has presented and is very grateful to the team for showing resilience and commitment in maintaining as effective a service as possible. This is especially relevant given the additional time and effort required from the team as TMCP implements new systems and ways of working.

The Trustees for Methodist Church Purposes (TMCP) works alongside colleagues in the Connexional team, Central Finance Board and the wider Methodist Church. All staff aim to promote a professional relationship between TMCP and any outside agencies with whom the organisation may be in contact.

Aims and purposes of the Trustees for Methodist Church Purposes

The purpose of the Board is to service the Methodist Church in the advancement of the Christian faith in accordance with its doctrinal standards and discipline, and any charitable purpose of the Methodist Church or Church organisation.

The Board’s mission is to support and strengthen the Methodist Church, both by providing practical support to Managing Trustees and by working closely and effectively with colleagues in the Methodist Connexional Team.

It aims at all times to:

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Trustees for Methadist Church Purposes

Report and Accounts 31% August 2025

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The governing documents are the Methodist Church Act 1939, the Trust Deed of 1939 and the Methodist Church Act 1976.

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TMCP is the custodian trustee of all property held on the Model Trusts of the Methodist Church Act 1976, except for that in the Channel Islands and the Isle of Man which are held by the Trustees for Jersey Methodist Church Purposes, the Trustees for Guernsey Methodist Church Purposes or the Trustees for Manx Methodist Church Purposes. This includes nearly all the property held by local Churches, Circuits and Districts, together with a number of properties used for Connexional purposes. The Board ts also custodian of the funds held in 5,220 separate trusts. These funds are held for Methodist purposes for the Managing Trustees who may be local Church Councils, Circuit Meetings or other bodies of trustees. Some trusts, such as Circuit Model Trust Funds, are held on the Model Trusts. The trusts of other Funds, such as Permanent Endowments, are determined by the terms of the will or other settlement.

These trusts are segregated from the Charity’s individual assets, each being identified as separately labelled funds. Any instructions for actions in respect of those funds are given by the Managing Trustees responsible for the funds and only acted upon when this authority is given. Regular reconciliations of these funds and investments held are performed, and all processes are subject to scrutiny.

Activities of the Board include: -

The Board is full trustee of a small number of trusts where it has discretion over the use of income and, in some cases, the capital, and is responsible for the investment of the funds. For a number of ~ the trusts, the purposes for which grants may be made are specified in the trust documents, and for others the Board is able to make grants for any Methodist charitable purpose. The Board works closely with others within the Connexion to publicise these funds and to ensure they are utilised. These grants have supported some key projects across the Connexion and have been greatly appreciated.

The Board is pleased that, due to increased publicity across the Connexion and through the Property Development Committee, it paid grants totaling £204,841 for property and other projects from these trusts during the last financial year.

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Trustees for Methodist Church Purposes

Report and Accounts 31"

August 2025

Public Benefit Requirement

In accordance with Section 4 of the Charities Act 2011, the Board has complied with its duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising its powers or duties.

This guidance sets out two key principles:

  1. The organisation must have an identifiable benefit. 2. The benefit must be to the public or a section of the public.

The Board meets its charitable objects by performing key duties as the custodian trustee of all Methodist Model Trust property, facilitating all related legal and financial transactions. It provides practical support to Managing Trustees in local Churches, Circuits and Districts and works closely and effectively with colleagues in the Methodist Connexional Team.

Structure and Governance

These accounts reflect only the state of affairs and income and expenditure of the Board in relation to its own direct affairs. The Board also acts as custodian trustee in respect of all property held on the Model Trusts and full trustee of a number of other trusts. The accounts included in this report do not include these funds or any amounts in respect of local Church, Circuit, District and connexional accounts.

The Board is a corporate body and was incorporated by the Methodist Church Act 1939. The Trustees for Methodist Church Purposes is a registered charity (1136358 — “Trustees for Methodist Church Purposes”).

Board members are appointed by the Methodist Conference on the nomination of the Board, which seeks to maintain a balance of appropriate professional experience, Methodist experience and Connexional representation. A detailed Skills Matrix is updated annually by the Chair in consultation with Board members. This is used as a reference point when any Board vacancies arise.

Further to Section 4(3) of the 1939 Act the Board aims to consist of equal numbers of “ministers and laymen” (sic) and the Conference has currently set the total number of members at 16. Once appointed a member is a trustee for life unless any of the conditions set out in section 5 of the 1939 Act occurs. In summary these are if a member shall:

It should be noted that, despite these criteria, there is a regular refreshing of Board membership.

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

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The Board, which met on 16" October 2024, 13" February 2025, 11° March 2025 and 15" May 2025, is responsible for all the functions of the Trustees for Methodist Church Purposes. In practice, much of the work of the Board is discharged through committees and by its staff. As well as meeting to discuss operational issues, the Board holds an annual strategy day to review policy and set goals for each year.

Up until recently the Board occupied offices at Central Buildings, Manchester which is a Model Trust property used also by the Connexional Team, the Manchester Circuit and the Methodist Centre (a local church in the Circuit). The property is managed under a Joint Trusteeship Agreement to which the Connexional Council is party. Subsequently, while Central Buildings is being redeveloped, TMCP has moved to new managed premises at The Hive, 47 Lever Street, which is still conveniently located in central Manchester. The Board holds the premises on lease for 5 years with several break clauses during the period of tenure.

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The Board is served by four committees:

The Executive Committee

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There is currently a committee of five Board members which comprises the Chair and Vice Chair of the Board together with the Chairs of each sub-committee together with a ministerial representative. The committee met on 10" September 2024, 5° December 2024, 6" March 2025, 10" April 2025 (Joint meeting with the Audit and Risk Committee} and 20" June 2025. There were also sub-committee meetings for various key projects. The Executive Committee reports to the Board and:

The Audit and Risk Committee

This is a committee of three Board members, which met on 22™ January 2025, 10" April 2025 (Joint meeting with the Executive Committee) and 16" July 2025 to review:

The committee also: -

The Investment Committee

This is a committee of one Board member plus the Chief Executive and Finance Manager which meets annually with representatives from the Central Finance Board. It met on 16 January 2025 to review: e the investment policy in respect of the Full Trusts and the Trustees’ Interest Fund; and

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

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The Grants Committee

This committee comprises five members; three Board members, the Chief Executive and the Finance Manager, supported by other staff as needed. The committee met on 28" November 2024 and 10% July 2025 and allocates grants from the discretionary grant funds under delegated authority from the Board. The meeting dates are publicised in advance on the TMCP website.

Board Training

All new trustees undergo an induction to familiarise themselves with the aims and work of the charity, and to ensure they understand fully their responsibilities as Board members and the organisational expectations in terms of their commitment. As part of the induction programme, trustees are provided with constitutional, governance, financial, and organisational documentation. Trustees also receive regular governance updates and are made aware of relevant events and training opportunities.

Outcomes

In order to provide an overview of the work performed by TMCP, included below is an outline of some of the tasks undertaken since the last Report.

Finance

The Finance section supports the Board’s role as custodian trustee by planning and performing all financial operations relating to the receipts and payments of Model Trust monies as well as the investment of funds as instructed by Managing Trustees. This section also works closely with colleagues in the Central Finance Board and the Connexional team in order to fulfill some of these duties.

Some of the highlights of activities undertaken during the Connexional Year 2024/2025 are as follows:

e Property proceeds received £59.17m
e Payment requests processed £76.66m
e Investments purchased £13.75m
e Investments sold £17.96m
° PaymentrequestsprocessedviatheConsentssystem 684

The Trust Information System, an online system which provides online access to trust statements, balances and other information, had 3,147 users registered as at the year ended 31% August 2025 (2024 — 3,245 users).

Legal

TMCP works with Managing Trustees, the Connexional Team and their professional advisers to enable them to further their mission in different ways. This work includes the legal aspects of reimagining use of existing buildings, including partnerships for multi-purpose worship space and community

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

activities. The Legal section enables Managing Trustees to advance these projects in compliance with the requirements of Charity Law and Methodist Law and policy.

TMCP’s Matter Management System (MMS) provides statistical data on the number and types of matters and enquiries that the legal team provide help and guidance on to support Managing Trustees. In the Connexional Year 2024/2025 the Legal Team have provided support on 1,659 new Matters and 1,374 Enquiries created between 1%* September 2024 and 31% August 2025. This compares to 1,765 new Matters and 1,118 Enquiries created between 9 October 2023 and 31° August 2024 (when preexisting Matters were still being carried over from the old system).

As at 16 December 2025 the legal team is responsible for a total of 5,420 Matters of which 1,302 are closed or archived.

The pie chart below shows the split of new Matters by type in the last Connexional Year:

Matters Created 01/09/2024 to 31/08/2025

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= Property - 820
= Bequests and Trusts - 638
= Non-Transactional - 66
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= Governance and Connexional - 33
= Ecumenical - 32
« Disputes - 31
= Data Protection - 29
= Schools - 10
Panel solicitors were chosen on 80.3% of Matters
where a solicitor was instructed
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In respect of the 820 new Property Matters opened 2024/2025, the Legal section have assisted Managing Trustees on over 289 Sales, 221 Residential Tenancies, 108 Leases, 28 Licences, 40 Purchases and 14 Redevelopment Matters, along with providing assistance on Planning or Highway Agreements, Covenants, Easements, Wayleaves, Legal Charges and Non-Transactional Property matters i.e. Land Registry Applications, ACVs and Deeds enquiries. The following pie chart shows a breakdown of the Property Matters by sub-type:

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Trustees for Methodist Church Purposes

Report and Accounts 31* August 2025

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= Sale
= Residential tenancy
# Property non-transactional (PNT)
= Lease
= Licence
= Purchase
= Redevelopments
= Planning or highway agreement
= Covenant
= Easement
= Wayleave
= Legal charge
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TMCP has provided guidance and assistance on over 1,374 Enquiries during the Connexional Year 2024/25. Examples of types of Enquiries include but are not limited to:

The Legal section continues to help Managing Trustees across the Connexion to secure income from their property to fund Mission. The Legal team completed 28,597 tasks between 01/09/2024 and 31/08/2025. Of these, 18,138 were response tasks — (this includes telephone calls but excludes post completion work, arranging meetings, file aways and meetings). Target response times in respect of these tasks were met on 95.9% of cases.

The work which the Legal team performed in respect of TMCP’s role as Data Controller is considered separately in this report as is the management of the Panel Solicitors.

Where TMCP Provide Support / Collaboration with the Connexional Team

General Data Protection Regulations (GDPR)

TMCP continues to act as the Data Controller for all Local Churches, Circuits and Districts (who are deemed to be the “Data Processors” i.e. the people who deal with data/ information on behalf of the Methodist Church).

The Connexional Team have a separate Notification with the Information Commissioners Office (‘ICO’). The separate registration ensures that the Connexional Team is a data controller for ICO to cover those data processing activities which fall outside TMCP’s registration and for which they are solely responsible.

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Trustees for Methodist Church Purposes

. Report and Accounts 31% August 2025

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TMCP and the Connexional Team continue to work together to provide data protection resources to the wider Connexion, including precedent documents, policies, practical guidance and frequently asked questions.

In the year to 31 August 2025 TMCP organised an online forum for District Data Champions to outline fully all current developments in Data Protection and to provide support and guidance as needed. As Data Controller, TMCP requires assurance from the Local Churches, Circuits and Districts that all necessary GDPR processes are being adhered to. In order to obtain such assurances, and on the recommendation of its Internal Auditors, TMCP introduced an Annual! Checklist. This is completed by local Managing Trustees and reported back via the Circuit and District who have collated the returns to confirm that they are fulfilling their responsibilities with regard to GDPR.

Following completion of the 2025 Annual Checklist, it is noted that there is a continued improvement in overall adherence to GDPR requirements across the Districts. However, TMCP will hold conversations with those Districts where some non-compliance remains an issue to try and help identify concerns.

TMCP continues to act as a point of reference on matters arising in respect of both registrations and also coordinated eight Data Subject Access Requests (DSAR’s) in the Connexional year 2024/2025. Of these, TMCP dealt with four and four were passed directly to the Methodist Church Safeguarding Team. The DSARs are recorded in TMCP’s DSAR Register.

News Hub Articles

Articles are regularly published on the TMCP website ‘News Hub’, providing information to Managing Trustees and their professional advisers on updates to the website guidance on changes in legislation, training events, data protection, availability of trust statements and other relevant information. During the year there have been 10 articles published. Managing Trustees are encouraged to sign up for the News Hub emails to be kept informed of current developments. The number of subscribers is currently in excess of 930 Work continues to increase the number of subscribers to the News Hub along with looking at other methods of disseminating information to Managing Trustees as part of our communication strategy.

Panel Solicitors

The Panel of Solicitors (established in 2018) continues to provide a cost-effective and consistent service to Managing Trustees in respect of legal matters. They have been trained and are regularly updated in respect of Methodist requirements and work very closely with the TMCP Legal team.

The Framework Agreement between TMCP and the Panel firms sets out the overarching principles for the performance and management of the Panel. In its capacity as the Church’s corporate body TMCP is party to the Framework Agreement meaning we have responsibility for ensuring the terms of the Framework Agreement are complied with.

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Feedback questionnaires continue to be sent at the end of a transaction to all Managing Trustees who use the Panel. Feedback is an important part of the monitoring process and ensures that Managing Trustees receive a high level of service and advice. TMCP summarise statistics relating to use of the Panel for monitoring, reporting, management and addressing feedback and complaints.

TMCP hold quarterly face to face monitoring meetings with each firm on the Panel. Training events regularly take place.

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2625

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Streamlining of work processes, specifically where the Panel of Solicitors are instructed, continues for sales and has now been effectively rolled out for purchases and leases. TMCP will now turn its attention to other areas of work where a streamlining or a form of streamlining could be introduced The streamlining procedure and the introduction of precedent documents for these types of matters are helping to make sure that TMCP can limit its involvement tn transactions at time critical stages and ultimately transactions proceed much quicker.

Copyright

The TMCP Board is the corporate body which holds copyright on behalf of the Conference and its subsidiary bodies because copyright is to be held either by an individual person or a corporate legal person. It will be noted that all publications such as the Constitutional Practice and Discipline of the Methodist Church (CPD), the Minutes of Conference and Singing the Faith and the works held in the Art Collection, to give but a few examples, name TMCP as the holder of the copyright.

However, all management responsibilities relating to these publications and their copyright are in the hands of the Connexional Council leaving the Board to be the mere holder of copyright. The Council delegates to others the power to grant permissions to use copyright material and to set any fees in respect of such use. Any fees paid to the Board for the use of copyright material are held to be used as directed by the Connexional Council.

Moving Forward

A number of key strategies have been rolled out in recent years in respect of the work performed by TMCP, a number of which have been finalised within the Connexional Year. Delivery of these strategies has resulted in the streamlining of all internal processes and is leading to efficiencies across the team. The current status of these strategies is outlined below:

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Matter Management System (MMS) Implementation

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Legal Strategy

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Finance Strategy

Workforce Strategy

Communication Strategy

Review of Funding

The Board originally reviewed its funding model in 2023. The review had concluded that a more sustainable and appropriate model was needed, separating the charge made in respect of the management of funds from the funding of all the other duties performed by the Board.

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Trustees for Methodist Church Purposes

Report and Accounts 31" August 2025

The Board decided on a preferred option and after initial discussions with the Connexional Team at operational level, a strategic high level discussion took place with representatives from the TMCP Board, Senior Management Team and Connexional Team. All parties recognised that a new funding model, which will sustain the work of TMCP for the next decade, needed to be agreed upon.

A funding model was proposed whereby the property work performed by the Legal team, as Custodian Trustee, would be paid for through the Connexional Property Fund.

This draft model was then subject to rigorous discussions at the Resourcing Committee and then subsequently at a meeting of the Connexional Council. A finalised proposal was then put forward to the Conference in July 2025 and agreed. This means that the 2025/26 Connexional Year Legal Costs would in part be funded through the Connexional Priority Fund and the remainder of the costs would be funded through the Management Fee which will be reduced to 0.280% (2024/2025 0.325%).

There are ongoing discussions with Connexional colleagues scheduled over the coming year to agree the future funding models. To this end, the Senior Management Team are utilising operational statistics now acquired from the Matter Management System to further develop the model.

In Summary

In summary, the following observations should be noted:

Financial Review

Total income for the year was £1,607,398 (see detail below). Total expenditure for the year was £1,401,358 and this resulted in a net operating gain of £206,340 (2024 net operating loss: £43,849). Gains on investment assets of £7,919 were then added to this gain, which led to a net increase in funds of £214,259 (2024: net increase in funds £68,165).

The Statement of Financial Activities shows grant income of £19,376 and this is matched against the second phase costs of the Matter Management Project which will lead to continued increases in efficiency and effectiveness. This restricted income and expenditure is shown separately in order to distinguish it from the unrestricted income and expenditure streams.

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

TMCP always works towards a balanced budget wherever possible, however this is reliant on the Trust Asset Value(s) as at the 31% August matching the budgeted values. There was an unexpected rise in valuations at the 31%t August 2024 which resulted in this year’s surplus. This was unusual compared to prior years. There was also a timing difference in expected expenditure relating to office relocation (October 2025).

The surplus forms part of the designated funds (noted in the accounts) held for future IT related projects. These include Website Development, replacing current accounting software and further development work required in due course in respect of MMS.

These projects are important to ensure TMCP are able to continue on the organisation’s path of improving the infrastructure and maintain its ability to continue to serve the Connexion.

Under the Service Level Partnership Agreement currently in place both the Board and Connexional Council are keenly aware of the need for TMCP to continue to provide efficient and effective services over the longer term. As of September 2025 we are in year 1 of a 3 year agreement. The Board and Connexion continue to liaise closely over the long term funding of TMCP. The Board are committed to maintaining sustainability.

Charitable Income

The main sources of charitable income are the management charges, the contribution from the Connexional Council and the dividends arising on funds held with the Central Finance Board. The charity does not carry out significant fundraising activities.

Income from charitable activities increased by 21.4% to £1,523,221 (2024: £1,254,689). Investment Income increased by 27.50% to £64,801 (2024: £50,832). Connexional Council income includes recovery of costs incurred in respect of members of the Property Support Team accommodated in Manchester.

Restricted income is grant income £19,376 (as noted in the overview above).

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Incoming Resources for the Year to 31 August 2025
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@ Management Charge - £1,335,546
B® Methodist Council - £184,787
m Other - £2,888
i Investment - £64,801
@ Restricted Income - £19,376
Total £1,607,398
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Trustees for Methodist Church Purposes

Report and Accounts 31°‘ August 2025

Charitable Expenditure

The main categories of charitable expenditure are staffing and support costs. Resources expended in respect of charitable activities decreased to £1,348,176 (2024: £1,353,124). This included expenditure incurred in respect of the third phase of the digital transformation project.

Over the last five years, since 2020/2021, there has been an aggregate increase in reserves of £345,548. This is after adjusting for investment appreciation and exceptional items. Allowing for these items, the level of reserves has moved over that period from £1,270,031 to £1,615,579.

To ensure continual improvement in performance and the development of ongoing tools to assist the Connexion, TMCP has over the last five years further invested in staff and infrastructure.

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Outgoing Resources for the Year to 31 August 2025
m Staff Costs - £1,077,475
@ Support Costs - £251,325
@ Restricted Expenditure - £19,376
@ Governance - £52,882
Total £1,401,058,
Utilisation of Reserves
2024/25 2023/24 2022/23 2021/22 2020/21
Opening Balance £1,401,320 £1,333,155 £1,435,424 £1,373,592 £1,270,031
Funds (utilised
from)/addedreserves in the ta e744 269 £68,165 (£102,269) £61,832. = £103,561
year
Closing Balance £1,615,579 £1,401,320 £1,333,155 £1,435,424 £1,373,592
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Utilisation of Reserves

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Reserves Policy and Review

The current reserves policy was updated in 2024. Quantified target reserves per the policy are £1.151m compared to actual free reserves of £1,615,579 as at 31 August 2025.

The Audit and Risk Committee looks at the Reserves Policy annually, in the context of the forthcoming budget and the final accounts, as a matter of good practice. A full review of the Reserves Policy is undertaken every three years by the Board. Next date of review will be the earliest of November 2027 or when the current funding model is reviewed.

When the Annual Budget is prepared, the Reserves Policy will be reviewed to decide if any allocation of the Administration Fund is possible for the forthcoming year. In the first instance, the level of reserves needs to be restored to the required level as noted above. If this is the case, any excess on an annual basis could then be budgeted to be utilised.

The Reserves could be used to:

It would be preferable if the Reserves were not used to:

Investment Policy and Review

The Board has agreed investment objectives for each of the trusts for which it is full trustee and reviews annually the criteria for the investment of the Trustees Interest Fund in collaboration with the Methodist Church’s in-house investment manager, the Central Finance Board (CFB) of the Methodist Church, whose mission is to:

To ensure that the CFB is working to the highest ethical standards, the Joint Advisory Committee for the Ethics of Investment (JACEI), which is made up of five people nominated by the CFB and five by the Connexional Council, monitors the activities of the CFB to ensure that it complies with the ethics of the Church.

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

The Board’s Investment Policy is reviewed annually, and the responsibility is delegated by the Board to the Investment Committee. This committee also recommends the investment parameters for the Board to adopt.

Connected Organisations

TMCP as a corporate body is a separate legal entity, distinct from the Methodist Church, and is responsible for its own actions. The Board reports annually to the Conference and all members of the Board must be members of the Methodist Church. The Conference has various powers under the 1939 Act (e.g. to change the body’s name) and in particular it appoints the members of the Board.

The various parts of the legal framework within which the Methodist Church is governed allow for the setting up of separate bodies all reporting into the Methodist Conference to handle specific aspects of the Church’s work and/or discharge a specific power of the Church.

Outlined below are two bodies considered to be connected organisations, which alongside TMCP report separately each year to the Methodist Conference:

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2025
Income from Purchases from Amount owed by
connected connected connected organisation
organisation organisation at year-end
Connexional Council £184,787 £1,900 £23,759
2024
Income from Purchases from Amount owed by
connected connected connected organisation
organisation organisation at year-end
Connexional Council £206,891 £1,760 £8,738
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In addition to this, the connected organisation transactions with the Central Finance Board include the operations in the administration of the Board’s custodian trustee responsibility.

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Other Connected Organisation Matters

Anne Goodman, Chief Executive, is a director of Methodist Chapel Aid Ltd.

The Board, as full trustee of the MCA Charitable Trust, holds 29.7% (2024: 29.7%) of the share capital of the Company. It holds these shares for the charitable purposes of the Methodist Church generally.

Nicola Sivori is a member of the Central Finance Board Council.

Risk Management and Internal Controls

Risk Management

The Board, through the Audit and Risk Committee, regularly reviews the risks to which its operations are subject to and maintains appropriate arrangements to mitigate those risks. The primary risks are funding and investments, loss of key staff, and changes in technology.

The Audit and Risk Committee reviews and assists in the continued development of a refined Risk Matrix. A full statement of the Risk Management policy is available on request.

The risk management policy is designed to identify and analyse operational and other risks facing the organisation and, where at unacceptable levels, to take steps to mitigate the risks. The Board currently maintains a corporate risk register broken down to include the following headings:

The matrix summarises the strategies for mitigating and managing the identified risks.

Internal Controls

The principal features of the systems of financial control include:

For the year under review, the Board is satisfied that the major risks to which TMCP is exposed have been assessed and that systems are in place to manage and mitigate exposure to them and residual risks are at acceptable levels.

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12th February 2026

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF TRUSTEES METHODIST CHURCH PURPOSES

FOR

Opinion

We have audited the financial statements of Trustees for Methodist Church Purposes (the ‘charity’) for the year ended 31 August 2025 which comprise Statement of Financial Activities, Statement of Financial Position, Statement of Cash Flows, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not

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Trustees for Methodist Church Purposes

Report and Accounts 31% August 2025

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cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

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We have nothing to report in respect of the following matters in relation to which the Charities {Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 21, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor responsibilities for the audit of the financial statements

We have been appointed as auditor under section 1443 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a materia! misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit-assurance/auditor-s-responsibilities-for-the-audit-of-thefi/description-of-the-auditor%E2%80%99s-responsibilities-for. This description forms part of our auditor’s report. Use of our report This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Nicola Mason MA (Cantab) FCA DChA

Senior Statutory Auditor For and on behalf of MHA, Statutory Auditor 9 Winckley Square Preston PR1 3HP

MHA Audit Services LLP is eligible to act as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number 0C455542).

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Statement of Financial Activities for the year ended 31st August 2025

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
Note £ £ £ £
Income and Endowments
from:
Donations and legacies 3 (a) - 19,376 19,376 44,728
Investment and other income 3 (b) 64,801 - 64,801 50,832
Charitable Activities 3 (c) 1,523,221 - 1,523,221 1,254,689
Total Income 1,588,022 19,376 1,607,398 1,350,249
Expenditure on:
4(a), (1,381,682) (19,376) (1,401,058) (1,394,098)
Charitable Activities (b) &Ch
Total Expenditure (1,381,682) (19,376) (1,401,058) (1,394,098)
Net Expenditure 206,340 - 206,340 (43,849)
Net Gains on investments 8(a) 7,919 - 7,919 112,014
Net movement in funds 11 214,259 - 214,259 68,165
Reconciliation of Funds
Fund balances brought forwardat
September		 at
1		 st 1,401,320 : 1,401,320 1,333,155
Fund balances carried
forward 31* August		 11
1,615,579 - 1,615,579 1,401,320

The notes on pages 28 to 40 form an integral part of these accounts

Statement of Financial Position as at 31°* August 2025

Note 2025 2024
£ £
Fixed Assets
Tangiblefixed assets 6 18,257 -
Intangible fixed assets 7 : -
Investments 8 1,211,400 1,201,731
Total Fixed Assets 1,229,657 1,201,731
Current Assets
Debtors 9 84,148 88,706
Cash at bank and in hand 391,843 151,425
Total Current Assets 475,991 240,132
Liabilities
Creditors
Amounts fallingdue within one year 10 (90,069) (40,542)
Net Current Assets 385,922 199,589
Net Assets 1,615,579 1,401,320
The Funds ofthe Charity
Unrestricted income funds 11 1,615,579 1,401,320
Restricted income funds 12 - -
TotalCharityFunds 1,615,579 1,401,320

The financial statements on pages 25 to 40 were approved by the Board and authorised for issue on: 12th February 2026 and signed on its behalf by

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FN DIDO ce Board Member
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ott
Se Board Member
The notes on pages 28 to 40 form an integral part of these accounts.
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Statement of Cash Flows for the year ended 31% August 2025

Note 2025 2024
£ £
Netcashfrom operating activities 16 200,429 (88,539)
Cash Flows from Investing Activities
Dividends & interest 3 (b) 64,801 50,832
Addition: Tangible Fixed Asset 6 (23,062) :
Addition: Intangible Fixed Asset if - -
Proceeds from sale of investments 8 (a) 91,290 2
Transfers ofCFB units as per
.
Conference Resolutions		 8 (a) : -
Transfer ofCFB units from T10885b ~— 8 (a) - -
Monies held as Debtor 8 (a) - -
Int
Net
TransfersfromTrustees Interes
Fund		 t 8(a) (93,040) 19,065
39,989 69,899
Changes incashandcash
equivalents in theyear		 240,418 (18,641)
Cashandcash equivalentsbrought
forward		 151,425 170,066
—=——_——
Cashandcash equivalentscarried
forward		 391,843 151,425
ee

The notes on pages 28 to 40 form an integral part of these accounts

Notes to the Accounts for the Year Ended 31st August 2025

1 Trustees for Methodist Church Purposes (The Board)

These accounts do not include investments of some £429 million (2024: £418 million) at market value held by the Board in its capacity as trustee or custodian trustee. These funds are held for Methodist purposes for the Managing Trustees who may be local Church Councils, Circuit Meetings or other bodies of trustees. Of the £429 million, approximately £3.818 million is in the form of trusts over which the Board has full discretion in accordance with the objects of the trusts. These trusts are segregated from the Charity’s individual assets being each identified as separately labelled funds. Any instructions for actions in respect of those funds are given by the Managing Trustees responsible for the funds and only acted upon when this authority is given. Regular reconciliations of these funds and investments held are performed, and all processes are subject to scrutiny.

The financial statements are prepared in sterling, which is the functional currency of the entity.

2 Accounting Policies

(a) Basis of preparation and assessment of going concern

These financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or in the notes to the financial statements.

They have also been prepared in compliance with FRS 102, ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. There were no significant areas of adjustment and key assumptions that affect items in the accounts. With respect to the next reporting period, 2024-25, the most significant areas of uncertainty that affect the carrying value of assets held by the Charity are the level of investment return and the performance of investment markets.

(b) Statement of Cash Flows

In accordance with FRS102 a Statement of Cash Flows has been prepared.

(c) Tangible Fixed Assets

Fixed assets purchased in the year costing over £5,000 are capitalised at cost.

Depreciation on assets in use has been provided at rates calculated to write down their cost or valuation to their residual values over the period of their estimated useful economic lives. A full year’s depreciation is charged in the year of purchase.

The rate of depreciation used on Computer Equipment is 33.3% on a straight-line basis.

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(d) Intangible Fixed Assets

Intangible Fixed assets purchased in the year are capitalised at cost and amortised over their useful life with a full year’s amortisation charged in the year of purchase.

Amortisation on intangible assets in use has been provided at rates calculated to write down their cost or valuation to their residual values over the period of their estimated useful economic lives.

The rate of amortisation used during the year is 33.3% on a straight-line basis.

(e ) Taxation

The Charity is exempt from Income and Corporation Tax on income derived from its charitable activities because of its charitable status.

Since 1% June 2014, the Charity is no longer registered for Value Added Tax and as such resources expended are presented gross of VAT.

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(f) Investments

The Charity holds unlisted investments. Investments are a form of financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the Statement of Financial Position date using the closing quoted bid price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year (see note 8a.)

The main form of financial risk faced by the Charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investments risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

(g) Income and Endowments

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(h) Expenditure

All resources expended are accounted for on an accruals basis. Any ensuing liabilities are recognised as soon as a legal or constructive obligation exists.

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Report and Accounts 31° August 2025

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(i) Pension Costs

The Board is a participating employer of the Pension and Assurance Scheme for Lay Employees of the Methodist Church (PASLEMC), which is a multi-employer, defined benefit scheme for lay employees. As it is not possible to identify the share of the underlying assets and liabilities of the scheme attributable to the Trustees for Methodist Church Purposes on a consistent and reasonable basis, it is accounted for as a defined contribution scheme. Accordingly, contributions payable to this scheme are charged to the Statement of Financial Activities in the period to which they relate.

The Connexional Council closed the PASLEMC to new entrants with effect from 31% May 2019. Existing members benefit from the Scheme arrangements up to this date but are no longer able to make further contributions and members do not therefore build up any future benefits in the Scheme. The pension that members have already built up is retained in the Scheme and upon retirement they will receive that pension and any inflationary increases granted.

TMCP now contributes to a defined contribution scheme with Royal London for its employees.

(j} Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

(k) Debtors

Amounts owed by related parties due within one year are measured at the undiscounted amount of cash or other consideration expected to be received. All other debtors are measured at transaction price, less any impairment.

(I) Creditors

Amounts owed to related parties due within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid. All other creditors are measured at transaction price.

(m) Financial instruments

The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from related parties.

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Trustees for Methodist Church Purposes

Report and Accounts 31" August 2025

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  1. Income and endowments
from:
3(a) Donations
and legacies		 Unrestricted
Funds		 Restricted
Funds		 Total
Funds		 Unrestricted
Funds		 Restricted
Funds		 TotalFunds
2025 2025 2025 2024. 2024 2024
£ £ £ £ £ £
Grantfrom
discretionary trust		 19,376 19,376 44,728 44,728
Legacy - - - -
- 19,376 19,376 - 44,728 44,728
3(b) Investment
and other income		 Unrestricted
Funds		 Restricted
Funds		 Total
Funds		 Unrestricted
Funds		 Restricted
Funds		 TotalFunds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Deposit Interest 31,185 31,185 15,384 15,384
Dividends 33,616 33,616 35,448 35,448
64,801 64,801 50,832 50,832
3(c)
Charitable
activities		 Unrestricted
Funds		 Restricted
Funds		 Total
Funds		 Unrestricted
Funds		 Restricted
Funds		 Total Funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Management
Charge		 1,335,546 1,335,546 1,047,447 1,047,447
Connexional
Council* 175,000 175,000 197,120 197,120
Contribution
1Support Services
in Manchester 9,787 9,787 9,771 9,771
Contribution
Other income and
recovery of bank 2,888 2,888 351 351
charges
pS
. 1,523,221 - 1,523,221 1,254,689 - 1,254,689

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

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4. Expenditure

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4.
Expenditure
on:
4(a)Analysisof Unrestricted Restricted Total Unrestricted Restricted Total
Expenditure Funds Funds Funds Funds Funds Funds
2025 2025 2025 2024. 2024 2024
£ £ E £ £ £
Charitable
Activities — Staff 1,077,475 ~ 1,077,475 1,081,405 - 1,081,405
Costs
Charitable
Activities— 251,325 19,376 270,701 226,991 44,728 271,719
Support Costs
Governance costs
(note 4 (c)}		 52,882 - 52,882 40,974 . 40,974
1,381,682 44,728 1,401,058 1,349,370 44,728 1,394,098
A(b) StaffCosts 2025 2024
£ £
Wages& Salaries 842,944 848,352
Social Security costs 102,393 93,584
Pension & Permanent Health 132,138 139,469
Insurance costs
1,077,475 1,081,405
Average number ofemployees 21 21
(fulltimeequivalent)

The full-time equivalent is calculated on the basis of a 35-hour week. The average number of employees (headcount) during the year was 21 (2024: 21) with all employee time involved in providing either support to the governance of[the][charity][or][ support][ services][to][charitable][activities.]

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A provision of £19,572 has been included in the 2025 wages and salaries total in respect of potential holiday pay. A provision for this was also made in 2024 (£16,451).

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Report and Accounts 31% August 2025

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The Board considers its key management personnel comprise the Trustees, the Chief Executive and four senior managers (2024: 5). The total employment benefits including employer pension contributions of the key management personnel were £419,189. (2024: £472,943).

2025 2024
No. ofemployees No. ofemployees
£60,001 -£70,000 1 2
£70,001 -£80,000 1 -
£80,001 -£90,000 2 2
The Trustees do not receive anyemoluments.
4(c)
Governance costs		 2025 2024
£ £
Trustees Expenses (note 15) 7,143 3,704
Committee Expenses (sundry costs) 838 512
Auditors Remuneration:
Intheircapacity asexternal auditors
In theirCapacity as Independent Examiners		 17,131
’		 18,399
1351
Charges forHR & other services:
Internal audit
HR services 23,305 12,471
Independent Examination 4,465 4,537
52,882 40,974
5. Net movement in fundsfortheyear 2025 2024
£ £
Netmovement in fundsfortheyear isstated. aftercharging:-
Depreciation 4,805 -
Amortisation - -
Operating lease rentals 1,697 2,167
6,502 2,167

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

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|||||| |---|---|---|---|---| |6. Tangible|Fixed Assets|Computer| |Equipment| |£| |Cost| |At|1% September 2024|19,970| |Additions|in|the|year|23,062| |Disposals|in|year|19,970| |At|31° August|2025|23,062| |Depreciation| |At|1% September 2024|19,970| |Disposals|(19,970)| |Charge|for|the|year|4,805| |At|31° August|2025|4,805| |Net|Book|Values| |At 31% August|2025|18,257| |At|31% August 2024|-| |7|Intangible|Fixed Assets|Website| |Development| |£| |Cost| |At|1' September|2024|52,662| |Additions|in|the|year|-| |At|31° August|2025|52,662| |Amortisation| |At|1% September 2024|52,662| |Charge|for the|year|-| |At|31° August|2025|52,662| |Net Book Values| |At|31st August|2025|-| |At|31st August|2024|-|

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Report and Accounts 31° August 2025

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8 Investments

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|||||||||| |---|---|---|---|---|---|---|---|---| |8(a}|Movement|on|Investments|2025|2024| |£|£| |Market value|1% September|1,201,731|1,108,784| |Disposal|proceeds|(91,290)|(2)| |TransfersconferenceofresolutionCFB|Units|into|Trust|17A|&5723A|as|per|;| |Transfer|of CFB|Units|from|10885B|.|;| |Cash|Transfer from|(174)|;| |Net Transfers|from|Trustees|Interest|Fund|93,040|(19,065)| |Monies|held|as|Debtor| |;|:| |Net|gains|on|investments|7,919|112,014| |Market value|at 31% August|1,211,400|1,201,731|

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8(b) Analysis of Investments

Market value is that provided by the Central Finance Board of the Methodist Church

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||||||| |---|---|---|---|---|---| |2025|2024| |Market|Market| |Value|Value| |Central|Finance|Board|£|E| |Trustees|Interest|Fund|93,042|2| |Global|Equity Fund|253,161|245,384| |UK|Equity|Fund|527,336|523,982| |Property|Fund|-|89,157| |Managed|Mixed|Fund|99,900|99,716| |Managed|Fixed|Interest|Fund|237,961|243,490| |1,211,400|1,201,731| |9|Debtors|2025|2024| |£|£| |Debtors|2,638|2,387| |Amounts due from|related|party|23,759|8,738| |.|Prepayments and accrued|57,751|77,581| |income| |84,148|88,706|

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10 Creditors 2025 2024
£ £
Trade creditors 22,790 3,362
Accruals 67,279 37,181
90,069 40,542

11 Unrestricted - Income Funds

Transfer
Net to/from
Funds at Movement Unrestricted Funds at
Funds Designated
Funds
01-Sep- 31-Aug-
24 25
£ £ £ £
General unrestricted funds 1,401,320 214,259 (232,372) 1,383,207
Designated unrestricted funds 232,372 232,372
UnrestrictedIncomeFunds 1,401,320 214,259 0 1,615,579

The Designated unrestricted funds are to be used for the following projects website development, replacing current accounting software and further development work required in respect of the Matter Management System.

12Analysisofrestrictedfund
movements		 Fundsat Income Expenditure Fundsat
01-Sep-24 31-Aug-25
£ £ £ £
Restricted Fund - 19,376 (19,376) -
- 19,376 (19,376) -

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13Analysis NetAssets Between
Fund		 Unrestricted
Funds		 Restricted
Funds		 tends Total Funds
2025 2025 2025 2024
£ £ £ £
Tangible fixed assets 18,257 - 18,257 -
Intangible fixed assets - - - -
Investments 1,211,400 - 1,211,400 1,201,731
Cash at bank and in hand 391,843 - 391,843 151,425
Other net current assets (5,921) (5,921) 48,164
Netassetsat31August2024 1,615,579 - 1,615,579 1,401,320

14 Pension Costs

Pension Costs

The Board is a participating employer of the Pension and Assurance Scheme for Lay Employees of the Methodist Church (“the Scheme”), a defined benefit scheme.

FRS102 Disclosures

A valuation of the Scheme for the purposes of these disclosures was carried out at 31 August 2025 by an independent actuary. The major assumptions used by the actuary, together with those used in the previous year, were:-

previous year, were:-
31August August2025 31August2024
% pa % pa
Discount rate 6.1 5.0
RP! inflation rate 3.2 3.3
CPI inflation rate 2.6 2.7
Rate of increase in pensionable earnings N/A* 2.7
Rateofincreaseinpensionpayments 2.2/3.1/5.0 2.2/3.2/5.0

The major categories of the Scheme’s assets (excluding money purchase AVCs) as a percentage of the total Scheme assets, were as follows:-

31August 2025 31 August 2024
Cash 0.3 0.4
L&G Annuities 4.7 4.6
Aviva Annuities 95.0 95.0
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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

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The following amounts at 31 August 2025 were measured in accordance with the requirements of

FRS102.

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||||||| |---|---|---|---|---|---| |£|million| |Total|market|value|of|assets|47.4| |Present value|of scheme|liabilities|47.6| |Net|overfunding|in Scheme|(0.2)| |Unrecognised|assets|0.0| |Net|Defined|Benefit Asset|(0.2)|

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The Scheme operated by the Methodist Church is a defined benefit scheme. However, the Board is not the only participating employer in the Scheme and under the terms of the Scheme, the assets and liabilities are pooled amongst the participating employers. Contributions paid into the Scheme have not been invested separately to those paid by other employers participating in the Scheme. As such no separate fund is identifiable in respect of the Board and therefore the Board is unable to determine its share of the underlying assets and liabilities on a consistent and reasonable basis

The Trustee resolved to commence the winding up of the Scheme on 18 March 2025. The Trustee is now in the process of arranging for individual annuities to be issued to members, before the Scheme can be fully wound up. From 1 September 2025, the Trustee and the Connexional Council agreed that the Connexional Council will pay all future Scheme expenses and the amount of any balancing premium owed to Aviva that is in excess of available cash in the Scheme. Therefore if any deficit were to arise within the Scheme prior to wind up, the Board would not be required to contribute towards this.

15 Transactions with Members of the Board and Connected Persons (Trustees)

Under the requirements of Accounting by Charities - Statement of Recommended Practice, it is necessary to disclose details of certain transactions with Trustees.

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|||||||| |---|---|---|---|---|---|---| |2025|2024|= =——.2025|2024| |Nature|of transaction|£|£|No|No| |Travel|expenses|reimbursed|7,143|3,704|68|20|

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

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16. Reconciliation of net movement in funds to net cash flow from operating activities

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||||||| |---|---|---|---|---|---| |2025|2024| |Cash|Flows from|Operating Activities| |Net|Movement|in|funds|214,259|68,165| |Add|Depreciation|charge|4,805|-| |Add|Amortisation|provided|-|-| |Deduct|(Gains) on|investments|(7,919)|(112,014)| |Deduct|Dividends &|interest|(64,801}|(50,832)| |Decrease/{Increase)|in|debtors|4,558|28,996| |Increase|/(Decrease|in|creditors|49,527|(22,854)| |Net cash from|operating activities|200,429|(88,539)|

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17. Operating lease commitments

At 315 August 2025 the total future minimum lease payments under non-cancellable operating leases are as follows:

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |Leases which|expire:|£|£| |Not|later than|one|year|242|1,696| |Later|than|one|year|and|not|later than|five|years|-|242| |Later than|five|years|-|-| |242|1,938|

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Post - Balance Sheet Event

Subsequent to the reporting date, on 8" October 2025, TMCP entered into a material lease agreement in respect of Office Premises at The Hive,47 Lever Street, Manchester, M1 1FN. As the agreement was signed after the reporting date, it is treated as a non-adjusting post balance sheet event under FRS 102 Section 32. Accordingly, the lease has not been recognised within the above commitments.

18. Related Parties

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There were no related party transactions during the year (2024: none) other than expenses paid to Trustees as disclosed in note 15.

Transactions with connected organisations are reported in the Trustees’ Report on pages 17 and 18.

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||||||||| |---|---|---|---|---|---|---|---| |19.|“t|Cash|At| |Analysis of changes|in net debt|1 September|flows|31 August| |2024|2025| |£|£|£| |Cash|at|bank and|in|hand|151,245|240,418|391,843| |151,245|240,418|391,843|

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Trustees for Methodist Church Purposes

Report and Accounts 31° August 2025

20. Financial instruments

The charity had the following financial instruments: 7 Financial assets measured at fair value through the | Statement of Financial Activities: 2025 0 7 , £ £ Investments stated at market value 1,211,400 1,201,731

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