Wey Valley Methodist Circuit WEY VALLEY METHODIST CIRCUIT TRUSTEES, REPORT & FINANCIAL STATEMENTS To 31"August 2024
Administrative Information Wey Valley Methodlst Circult conslsts of 13 churches, from Walton-on-Thames in the north to Cranleigh in the south. The Clrcuit is a registered charity number 1137300. The full correspondence addresses of the 13 churches in the Circuit are: Addlestone Methodist Church, 71 Station Road, Addlestone, Surrey, KT15 2AR Byfieet Methodist Church, Rectory Lane, Byfleet, Surrey, KT14 7LL Cranleigh Methodist Church, 188 High Street, Cranleigh, Surrey, GU6 8RL Godalming United Church, Bridge Road, Godalmin& Surrey, GU7 3DU Guildford Methodist Church, at St Mary's, Quarry Street, Guildford, Surrey, GUI 3UP Knaphill Methodist Church, Broadway, Knaphill, Surrey, GU212DR Merrow Methodist Church, Bushy Hill Drive, Guildford, Surrey, GUI 2SH St Michael's Ecumenical Church, Dartmouth Avenue. Sheep¥vater, Wokin& Surrey, GU215PJ Stoughton Methodlst Church, Stoughton Road, Guildford, Surrey, GU2 9PT Walton-on-Thames Methodist Church, Terrace Road, Walton-on-Thames, Surrey, KT12 2SR West Horsley Methodist Church, 97 The Street, West Horsley, Surrey, KT24 6DD Weybridge Methodist Church, Heath Road, Weybrldge, Surrey, KT13 8TB Trinity Methodist Church, Brewery Road, Woking, Surrey, GU214LH The full correspondence addresses of the six manses in the Circuit are: 8 Eastgate Gardens, Guildford, Surrey, GUI 4AZ Epworth. Charterhouse Road, Godalmin& Surrey, GU7 2AL 72 Collingwood Crescent, Boxgrove Estate. Guildford, GUI 2PF 48 Lane End Drive, Knaphill, Surrey, GU212QG 2 Clements Road. W3lton-on-Thames, Surrey, Kf12 3LY 36 Woodham Road, Woking, Surrey, GU214DP Correspondence for the Clrcult should be addressed to the Superintendent Minister or the Circuit Administrator, Ms Lucy Venmore, Circuit Office, Merrow Methodist Church, Bushy Hill Drive, GUI 2SH, email: circuitoffice we valle circult.or
arcuit Meeting Members (Managing Trustees) Circuit Meeting membership is made up of the ministerial team, Supernumerary ministers, Circult officers, and representatives from the churches. Guldance on procedure and membership Ss taken from the Methodist Church Constitutional Practice and Discipline and the Circuit Constitution. Chair- Superlntendent Minister, Rev Dr Paul Glass Secretory Louise Steele Ministers-Rev Sydney Samuel Lake (retired August 2024), Rev Sam Funnell, Rev Adam Payne, Rev George Kwasi Quarm, Rev Shaun Sanders (from September 2024) Authorised Presbyter- Rev Canon Simon Butler (from September 2024) Supernumerary Ministers - Rev Canon Robert Cotton (retired August 2023), Rev Claire Hargreave5, Rev Peter Hills, Rev Barrie Tabraham, Rev J Allan Taylor. Circuit Stewards -Helen Belsham, Nigel Campion-smith, Jean Normington, David Paterson, Linda Weedon Iretired August 2024), Andy Seehusen, Ruth Taylor, Alan Steele (from March 2025) Circuit Manses & Propety Steward- David Lander Local Preachers L7nd Worshlp Leaders Secretary -Rosemary Lee Safeguarding Officer - Andy Seehusen and Martin Seehusen Lay Worker Representatlve - Allison Jackson {retired December 2024) Church Representatives: Addlestone - Fred Rowe, Cellia Kim-ford Byfleet - Pamela Bailey, Vaughan Stsrkey, Cranleigh Hilary Strawson Godalming Margaret Ireland, Julie Rowllng Guildford - Andrea Campion-smith, Michael Lee Knaphill -Lynda Shore, Linda Todd Merrow- Julie Wallis, Carole Steele St Michael'5 Sheerwater- Naomi Belli (previously Belli Borovicka), Peter Francis Stoughton - Carole Steele, Linda Macbeth Walton-on-Thames - Duncan Curtis, Ros5 Richardson West Horsley Margaret Faulkner Weybridge - Robert Lewls. Linda Weedon Trinity, Wokin8- John Ne150n, Sue Waddell Reps to Synod.. Helen Belsham (retired August 2023), Margaret Faulkner, John Nelson, Linda Weedon.
Number of Members in Circuit 650 The membership figures for each church are those returned as at l November 2023. (In brackets are the membershlp figures for each church returned as at l November 2022). Addlestone Methodist Church Byfieet Methodist Church Cranleigh Methodlst Church Godalmlng Unlted Church Guildford Methodist Church (St Marfs) Knaphill Methodist Church Merrow Methodlst Church St Michael's Ecumenical Church, Sheerwater StOU8hton Methodist Church Walton-on-Thames Methodlst Church West Horsley Methodlst Church Weybrldge Methodlst Church Trlnlty Methodlst Church, Wokin8 14 (14) 50 (511 33 {40} 120 (130) 38 (37) 62 (67) 60 (59) 20 (181 21 (21) 59 159) 13 113) 22 (28) 104 (113)
PUBLIC BENEFIT STATEMENT The trustees confirm that they have complied with their duty to have regard to the Charlty Commission guldance on public benefit. Aims and Organisation The Wey Valley Methodist Circuit formation was approved by the Methodist Conference in July 2016. Under the auspices and governance of the Methodist Church it has its own constitution. Oversight of the Circuit is exercised through the Chalr of the Southeast District of the Methodist Church. Clrcuit Misslon Statement.. The Circult commits to lead and support local churche5 in releasing the gifts of the Holy Spirit to allow modelling of Christ-like lives, so that the good news of God's love can be witnessed in all areas of worship, fellowshlp and outreach. We aim to do this by: Supporting opportunities for worship and falth sharing. Encouraging sharing of gffts - both talents and material resources. Promoting the passing on of experience in all areas of churth life through resource groups. Facilitating training. Ministers work as a team with pastoral charge of independent sections. They meet regularly for support and prayer, and regularly with lay members of the leadershlp team for strategic planning and updates on developments around Circuit business. Communication 15 facilitated through the quarterly Circult newsletter, the Circuit website and the Clrcuit Annual Report. The following are Trust attivities as approved by the Circuit Meeting: To increase awareness of God's presence arid to celebrate God's love through the provislon of regular public acts of worship open to members of the church and non- members alike The teaching of Christianity through sermons, courses and small groups to encourage growth and learnlng through mutual support and care Develop an attitude of service that enables members to stand alongside those in need Promote attivltles that create opportunities for others to explore Christianity b) d)
Objectives for 2024125.. Help all Circuit leaders to continue to use their particular gifts in the life of the Clrcuit. Explore opportunlties of covering specific areas of church Ilfe by employing lay workers. Encourage and assist all churches to focus on strengths and opportunitles to grow their churches and impacttheir communities in new and imaginative ways. Improve interaction between churches facing slmllar Issues, challenges. and opportunities. Continue to develop an atmosphere of open trusted communlcation across the Circutt and churches. Provide a range of relevant and accessible trainin& partlcularly focusslng on maintalnlng the highest standards of safeguardlng. Continue to develop a five-year Strateglc Staffing Plan. Review of Progress and Athlevements 2023124 In the Methodlst Church "the ClrcuSt Is the prlmary unit In which Local Churches express and experlence thelr interconnexion In the Body of Chrlst, for purposes of mlsslon, mutual encouragement and help" {from The Constltutlonal Pruthce ond Discipllne of The Methodlst Church) To thls end the leadership team continues to encourage Interaction of churthes in the Wey Valley Circuit. The year continued to be challenging for churches with the curfent economic condition5 making the retainlng and making of new lets challenging while facing and ever aging congregation less able to perform duties within the churches. The Circult flnanclal sftuation of the Circuit has continued to improved, helped by the return of the pension Grant given two years ago to the Connection beln8 returned. However there are stlll Significant financial issues that need to be addressed particularly as individual church membership continues to fall. To insulate the Circult from the financial uncertainty of not being able to meet ministerlal salary and housin8 Costs the Circult initiated three initiatives. Firstly it froze the payment of grants except for emergency purposes during this financlal year- no grants were paid during the year. Thls was achieved and wlll be carried forward into the comlng year. Secondly it actively reduced its C05t base by not seeking a replacement for Rev Davld Faulkner and took the declslon to rent the manse out to obtain additional income. Both these actlons did occur and there are no immediate plans to increase the number of staff in the coming year. Thirdly It undertook to provide workshops with the aim of providlng churches wlth sUPPOrt and idea5 of how to grow their membership and optimise their cost base. These have begun and while there have been some green shoots that have occurred the most effective changes have occurred as a result of direct interventlon of Rev Paul Glass and Rev Adam Payne who have focussed on single churches provldlng detalled plans and suggestlons for how these churches seek to build on their strengths to improve financial and membership.
Pressure on the Circuit preaching plan continues to grow the need for local arrangements for the conduct of worship services, as a number of preaches have retired. The Circuit continues to encourage churches to explore new methods of delivering sermons for worshlp as well as growing local members to take the local arrangement service. The Youth and Children's Work and Communications groups did not meet but receive regular electronic updates. Training has been offered to all churches, ministers and lay workers, including face-to-face and online training. These have included the areas of safeguarding, food hygiene, and EDI. The ministers are supported by their own monthly meetings, supervision on a regular as required basis, and by the regular meeting5 of the Circuit Leadership team. Being mindful of our impact to the environment we made use of Zoom, FaceTime, etc being employed. The Cantonese-speaking Methodist congregations at Wokin& Trinity and Merrow Methodist Church, which has grown from recent waves of immigration, has continued to increase in size. There are a range of successful range of outreach activities across the Circuit, including a well- used baby bank at Cranleigh, Clothes4U at Knaphill and a weekly Vigil for Peace at St Mary's, Guildford. The Circult's quarterly magazine, The Wey Forward, continued to be a key tool of communication wlthln the Clrcult. These are available in hard copy as well as downloadable as a pdf vla the Clrculys website. The website www.weyvalleycircuit.org.uk provided Information on the life of the Circuit and its churches to both those involved and the general public. The quarterly preachlng plan continued to be available here too. To provlde fulk£dministrative support for the Circult, the Clrcult Admlnistratlon Officer and PA to the Superintendent, contlnued worklng five mornin85 a week, with three of these mornings working from horne. The Circuit also employs a part time (5.25 hours per week) Safeguarding Administrator, based at Walton, who meets periodically with the Circuit Safeguarding Officer, and the Assistant Circuit Safeguarding Officer. This Circuit Safeguarding Team meets wlth the Superintendent Minister and the Distrlct Safeguarding Officer as required. The local Church Safeguarding Officers meet every six months with the Circuit Safeguarding Team. The Safeguarding Team are assisted by the Superintendent Minister and District staff in keeping DBS checks current.
Fundraising The Circuit 15 a financially stable and viable charity. As such, we do not rely on public fundraising to balance our budget. We do appeal occasionally, via in the individual churches in our Circuit, for additional funds to provide mission outreaches and to respond to local and worldwide disasters. We are mlndful of the provisions of the Charities (Protection and Social Investmont) Act 2016 and we are guided bythe Charity Commission publication 'Charity fundraising: a guide to trustee duties {CC20) and the Code of Fundraising practice. Approach tofundraising We always ensure that our fundraisin8 is alway5 legal, open, honest. respectful and accountable. We treat our potential donors honestly and decently, giving them the information, they need to make an informed choice about their giving. Where fundraising takes place, we are aware of how fundraising is being delivered; we know who is making the ask," we know what risks there are from any fundraising activity; monitor if any complaints that are made about the fundraising practice; and we use our complaints policy to deal with any issues. Working with, and oversight of, any comrnercial participators/ professional fundraisers We do not work with commercial partners for the benefit of the Circuit. We do, however, support local and national charities. Fundraising conforming to recognised standards As a Circuit, we ensure that Charity legislation is regularly reviewed and updated. We stay up to date with the latest developments in the law and Code of Fundraising Practice through resources provided by the Methodlst Church of Great Britain and through our auditors. Monitoring offundraising carried out on behalf of the Circuit All fundraising activity of significance must be approved bythe Circuit meeting (attended by all trusteesl and all other by the Circuit Leadership meeting. Fundraising complaints Complaints will be dealt with through the Circuit Complaints Policy. None have been received. Our commitment A5 a Circuit we are committed to ensure that: We provide protection to the public, including vulnerable people, from unreasonable intrusive or persistent fundraising approaches, and undue pressure to donate. We as a charlty will adhere to ethical fundraising processes in line with the Charity Commi55ion's Charity fundraising: a guide to trustee duties {CC20).
Flnanclal Reports and Schedules Wey Valley Clrcult Reserves Policy The Wey Valley Circuit is part of the Methodist Church in Brltain Registered Charity no 1132208. The Methodist Churchls divided into 29 Districts and each District is dlvided Into Clrcuit5. The Wey Valley Circuit is part of the Southeast Dlstrict and has responsibility for 13 Methodist churche5. The Circult has five primary goals: l. To ensure that all churches under its control have the correct governance structures in place as prescribed by the Methodist Church in Britain standing orders and the Charities Commisslon. 2. To appoint and allocate minister(s) to the Circuit, within its financial capabilities, and then allocate pastoral care of the 13 local churches to each of it5 appointed ministers. Where there are insufflclent ministers to provide the required Services that suitably qualified lay volunteers are in place. 3. To provide serviced housin8 for all appolnted rninlsters in accordance with standing orders 8uidance. 4. To provide leadership and dlrection for churches to facilltate brin8in8 members of the churches within the Circuit into a deeper fellowshlp with Christ. 5. To manage fund5 built up over time due to sale of Churche5, manse5, donations and the like. These funds where they exceed the reserve limits will be made avallable for allocation to churches, on receipt of an approved application, to fund repair5 and projects at a church level. The Clrcuit receives its income from the churches who contribute a fixed quarterly amount. thelr assessment, which is determined annually based on fartors including the 51ze of the church and its ability to pay. The Circuit draws up a budget annually which estlmates the level of expenditure expected in the followlng year. The Circuit has four main areas of expense: l. Payment of Ministerial stipends. 2. Payment of services, rates and repalrs on the houses allocated to ministers. 3. Payment of lay staff members and office costs relatln8 to the Clrcult Offlce. 4. Payment of the D15trict Assessment To achieve its objectives the Circuit needs to ensure that it has sufficient funds to cover the ministerial stipends, mlnSsterial housing costs and Clrcuit office costs so it can continue to provide the local churches with the ministerial staff to ensure that local churches can continue to serve their local community. As the Circuits income Is paid quarterly by each church the requirement for each church to hold sufflclent reserves to cover their running costs and Clrcult assessment is key part of the reservlng policy. Mindful of our Biblical responslblllty not to hoard it Is Important that this be balanced with a sense that we need to be forward looklng and plan for known events and responsibility for others lincludlng employees) is important. So the Circuit has set In place a policy for churches to hold 6 months, running and assessment costs in reserve5. During the year under revlew all churches were able to adhere to this polloi, however, some have been forced to reduce reserves due to falling income levels.
At a Circuit level we have a reserves policy which requires us to hold 6 months, reserves of the previous years running costs adjusted for any new known expenditure or adjusted for any one-off expenditure items in the previous year. The Circuit 15 cufTently complying with this policy. Where a church is struggling to meet its assessment, the circuit will reserve a further 6 months of that church's as5essrnent. Overview of reserves and expenditure 2024 351,897 2023 311.154 Change Reserves excluding Property Yearly Expenses Expense cover in reseeS 407,810 0.86 times 410,283 0.76 time5 The Circuit has reserves in excess to meet the Reserve Requirements of 6 months. The Circuit has not been made aware of any churches that will default on their current assessments. Financlal Strategy The flnancial strategy of the Clrcuit is drlven by the overall mission aims. Specifically, we alm to: Support the ongolng actIties of C5rcult churches by providing financial asslstance where needed to address urgent issues that are restricting or threatenin8 the contlnuance of actlvities. Provide adequate reserves to cover the obligations of the ClrcuSt whilst providing stabllty in the individual church contributions to the overall cost. In line with guidance, as described above, we are aiming to hold a general reserve representing 6 months, expenditure. As the slgniflcant sums currently held by the Circuit are designated for speclfic projects or to cover for planned changes, the investment policyls for low risk and funds are held in cash. The Unrestricted Funds are comprised of: Designated Funds 9,695 Funds represented by illlquid fixed asset5 £4,785,000 Free Reserves £ 342,202 £5,136,897 Total Funds 10
Financlal Informatlon The Circuit has budgetlng for a small surplusforthe yearto 31 August 2025 and aiming to continue the trend in the followlng year, owlng to a redurtion in costs reflectin& a reduction in the level of ministerial stsffin& and rental from the manse which has been freed up as a result. The financial statements are below. These include the manses which are held in the Clrcuit accounts under a responsibility delegated from the Trustees for Methodist Church Purposes (TMCP) from whom approval must be sought when disposal or 5hort-term rental is recommended by the Clrcuit Meeting. Methodist properties originally held in a variety of trusts were transferred to TMCP by an Act of Parliament. Approved by the trustees on and signed on their behalf by: Rev Paul Glass Chair of the Trustees 11
CIRCUIT Accruals ACCOUNTS THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS WEYVALLEY MEfHODisr ClrcutL FOR THE YEAR ENDED 31 AUGUST 2024 SOUTH WT Distiict Circult no Reolstered Chèffty- Charfty R•glstfation numbgr 1737300 If not a regtstered charty Her Majest¥ Revenuè and Cusloms Glft ASd numbgr IThe HMRC numbèr is equiv8knt lo a registered charity number li terms of gvwjerte of charlabl8 Staius and may be useif lo gwe to donors or grant fvndets wish¥u to see evijence of the organsatK)nS charitabl& status. Melhodi$t charitie$ tn England and Wales that are not regk%lered charit¢s are excepted from ragistratti)n under Statutryy Instrument 2014 No.2421 Mmtsters: Rev Paul Glgss Re.¥ Davkl F8un(ner Rev San!anlba Funnell Rev Pay.n¢ Rov Sydnoy. Samuel L8ke Rev J Alan Tayk Rev Barr Tabraham Rèv Peter Hil Rov Georue au8rm Rov Clawe Har r88ves Cwtiuil Sltiwaids: Mr8 Llnda Weedon Mfs Hekn Bolsham Mr DavkJ Lander Mr Andy. Seelusen Mrs Ruth Tayknr Mrs Jean Nnrmln on MrNi el Cyin K)n.Smllh TaSUrer. Mr DOVKI PAlerson
)Ise1rth R P.¥
Wey Valley Methodist Circuit Trustees, responsibilities statement Year to 31st August 2024 The truslees are re8pon81ble for preparing the Trustees, Annual Report and the financi81 statements in accordance with applicable law and United Kingdom Accounting Stsnd8rds (United Kingdom Generally Accepted Accounting PractiGe). The law applicable to charftles in England and Wales requires the trustees to prepare financial stslemenls for each financial yearwhich give a true and fair view of the state ofaffairs of the charity and ofthe incoming resources and application of resour(*s of Ihe charity for that period.ln preparing these financial statements, Ihe trustees are required to.. select suilable accounting policias and then apply them consistently., ' obsetve the methods and principles in the Charities SORP; . makejudgements and estimates tr)atare roasonable and prudent., ' state whe1her applicable accounting standards have been followed. subjectlo any material depathres disclosed and explained In the financial stalements., prepare the financial statements on Ihe going concem basis unless it Is inappropriate to presume Ihatlha charity will cnntinue in operation. The trustees are sponsible for keeping properaccounting recordslhatdlsclose wlth reasonable accuracy at anytime Ihe financral position ofthe charity and enable them to ensure that Ihe financial statements comply with the Charities Act 2011, tr)8 Charfties (Accounts and Reports) Regulations 2008 and the provisions ofthe trustdeed.They are also SPOnsible forsafeguarding the assets ofthe charity and hancefortsking reasonable steps for the prevention and deteclion offraud and other iffegularitie5. Approved by the trustees on... nd signed on theirbehalfby: P Glass Chalrof the Trustees
Name of Circuit: WEY VALLEY METHODIST CIRCUIT Circult No 2016 statement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to Genèral Clr¢uit Modèl Dèsignatsd the Fund Trust Funds account (Unrestricted (Unrestricted {unrestricted Total 2023. Total 2022-23 Income 2 Inix)me from monelary investments 3 Ine£)me from investment properties- letting8 4 Assessments on Churches 6. Assistant Chair Allowance 7 Other charitable income 8 Total Income 19.099 18,000 407.904 15.884 3,138 464,025 19,099 18,000 407,904 15,884 3,138 464,025 10,434 400.699 14.770 425,903 Expenditure 9 Grants and donations 10 Salaries and assocAated costs 11 Expendilufe on property 12 South East District assessment 13 Methodist Conneonal Fund and TMCP Levy IS Offlc& expenses 16 Other outgoings 17 Total charitablo eXndItur0 18 Gainslllosses} on monetary investments 19 Gains/{losses} on investment properties 20 Net Incomel{expenditure) 21 Transfers between fijnds 22 Olher gainsl{losses} 23 N&t movomont In funds 24 Total funds brought fOard 25 Total funds carried forward 12 -45,000 277,314 54,963 15,012 64,307 11,146 2.311 380.053 -151 205,551 117,676 15.012 65,006 20.588 281 423.552 205,S51 117.676 15,012 65.148 20.588 -281 423.694 412 142 142 412 40,473 270 40.743 45,699 40,473 5,035,173 5,075,646 270 51.286 51,556 40.743 45.699 5,096,154 5.050.455 5,136,897 5.096,154 9,695 9,695
Name of Circuit: WEY VALLEY METHODIST CIRCUIT Clr¢ult No 2016 Statement of Financial Activities (SOFA) for the year ended 31 August 2023 Notes to General Clrcuit Designated the Fund Model Trust Funds account (Unrestricto Iunrestrlcte (unrestricted Total 2022-23 dl dl Income 1 Donalioris and legacles 2 Income from monetsry investments 3 Income from invesknenl properties- lellings 4 Assessments on Churches 5 Capltal Re¢eipls 6. Assistant Chair Allowance 7 Other charitable income 8 Totsl income 10,434 10,434 400,699 400,699 14.770 14.770 425,903 425,903 Expenditure 9 Grants and donations 10 Salaries and asso¢lated costs 11 Expendllure on propety 12 South East District assessment 13 Methodist Connexional Fund and TMCP Levy 14 Depreciation 15 Office expenses 16 Other outgoings 17 Totsl charftable expenditure 18 Galnslllossesl on monetary investments 19 Gainslllossesl on investrnent properties 20 Nel incomellexpendllurel 21 Transfers beiween funds 22 Other galrsslllossesl 23 Net movement in funds 24 Tolal funds brought lomard 25 Total funds carrled forward 12 45,000 277,314 54,963 15,012 61.952 45,000 277.314 54.963 15.012 64.307 2.355 11.146 2.311 377.698 11.146 2.311 380.053 -151 2.355 151 48,205 1,517 -2,506 1.517 45,699 49,722 4.985.451 5,035.173 4,023 55,309 51,286 45.699 5.050,455 5.096.154 9,695 9,695
Name of Circult WEYVALLEY METHODIST CIRCU Clrcult No 2018 Balance Sheet as at 31 August 2024 G•n•ral FuThJ IUr••irlcl&d) Di8irtct Advanc• Fund lllnrp$trl¢tsd) De$lgn8Jd Fur r•lrf¢thdl Tolals 2Q24 Tolab 2023 Accounts 11111 Flxod A•s0ts 4765WO 4 785 000 InNEslrn&nl rtKg$ 14 5.742 742 Totyllx•d•s$•ts 4 785.000 5.742 4 790 742 4 79D 33Q Lkblo Loan5 b Ihe C¥Blrici InvgsinEDts %1lh TMCP Contsal Fniarth Boa Dtr oslts at B4nkand in hand 14 15 15 231 62 695 28T 71 126751 9.396 454.989 438.739 45,D14 494.248 Curr•rrt Il&blllllos Ctsdrtot5 (due kn under I Grnhts payabb Wthln 1 IIB.093 10,IJOQ 128093 11B093 10.000 128193 366 YSS ar 10.OfJti 12ft IR5 325 8?4 NèentasSetsm&J$ltityS Tptslss•l¥ ¢Jffrnrtll•blMV•s Ot)G 640 97 5 110 15 Lofigtemillabllltles ermor• thin (du 8 blB aft81 rTrire thon l ¥Jr Loarbs to the 011 17 20 4075,64e 51W6 9.695 Flthdg of IhD Dlstrl¢1 Genral Fund nrns1ed Dt Adn¢ Fund Uthosttstedl tknn8led Fund5 lUn&tLled) Totsl L&Kestrlc*d Funds f1ts6td FuThJ8 S Q75 64Q 6 Q76 51,65 .695 5 035 173 51,286 9,695 51,556 21.2 9,695 22 TotslFund$ 13e.897 5.ose,15 Slgned David Palerson Wey Valley Methodlst Clrcuit Trpasurer Date:
Name of Circuit WEY VALLEY METHODIST CIRCUIT Circult No 2011 Balance Sheet as at 31 August 2023 General Fund (Unrestricted) District Advance Fund IUnrostrlcted} Designated Funds IUnre$tricted) Totals 2023 Notès to the Accounts Illl Flxfrd Assets Tan Ible fixed assets Investment DfoDerties Investments 13 4,785.000 4,785,000 14 5.330 5,330 5,330 4,790,330 Total fixed assgts 4,785,000 Current Assets Debtors Loans b the Dlslrlcl Investments wlh TMCP Central Finance Board De Cash at 88nk and in hand Total Current assets Current Ilabllltles Creditors due in under 1 Grants a able within 1 y&ar Total currentliabllitles Net current assetslllabllltles 15 36,586 14 15 15 226.603 126,751 9,398 399.338 45,956 9,695 282,254 126,751 9.398 454,989 osils 45,956 9,695 ear 119165 119.165 10.000 129,165 325.824 17 10.000 129,165 270.173 45.956 9,695 Total assets less current Ilabllltles 5,055,173 51,286 9,695 5,116,1 $4 Long tem Ilabllltles Idue after more than one year) Grants avable after more than 1 Loans to the District 17 20,000 20.000 Net assets 5.035.173 51,286 9,695 5.096,154 Funds of the Dlstrlct General Fund Iunreslridedl Dislrfct Advance Fund Iunreslrlcledl 21.1 5.035.173 5 035.173 51,286 51,286 9.695 Designated Funds Iunrgslrictedl Total Unrestrlcted Funds Restricted Funds 21.2 9.695 22 Total Funds 5,035,173 51,286 9,695 5,096.154
Wey Valley Methodist Clrcuit Yearto 31st August 2024 Notes to the Accounts 1 Basls of accounting The fin8n(#al ststements have been prepared under the Charilles Acl 2011 in accordan( with the Charlties: Statementof Reojmmended Practice {SORP} applicable to charities preparing their accounts in accordance wilh the Financial Reporfing Stsndard applicable In the UK and Republic of Ireland IFRS 1021- 2 Going conc•rn The Trustees have o)nsidered the impactthe financial dlmate on the recovery ofthe Charity's income and operating ca)sl base. Whilst it is not considered practical to accurately assess1he impacts of the CUTrenl economic climate. the Trustses remaln confident based on recenttrends plus Ihe dedsions and plansthey have place will be suffiecentlo deal with any financial pressures that may arise.Th8 Trustees have prepared fore(3s15 of income and expenditure forthe perfod to 31 Augus12025 and have considered a period of 12 months from the date ofapproval ofth8 financial sfatements whith shows thatthey have sufficient t8serves to be able to conlinue foi Ihe foreseeable future. They will (ntInue ID monitorthe impact on income and take appropriate action as necessary. The Trustees therefDf8 continue ID adoptlhe golng concem b8si8 of piep8ralon fr)rthese finandal statements. 3 Furbds The funds held constibJte' G8neral Fund8 held for any purpose of Ihe Circuit which are unrestrtcted. The Clrcuit Model Trust Fund has wide purposes defined in Standing (Trders and is categorised as unrestricted. Restsld8d fvnds which are held for a narrower purposè. Delails of each material fund are disdosed in the flnal note to these acLounts. Any fund$ may be represented by more than just cash. 4 Publlc nefIt entlty The Wey Valley M&thc¥Jist Circult meets Ihe definltion ofa public benefit entity under FRS 102. Assets and liabilllies ar8 inillally reeognised at hisloric cost or transaction value unless olherwlse staled In Ihe a¢counbng policies note($) bèlow. 5 Accountlng p)licles asi$ These attounts have been prepared oft the basis ofhistori¢al costexcepl that Freehold Propety has b&en revalued ki frdSr value at Ihe yaar end and investments arè shown attheir market value al the end ofthe year. on the a1&1$ basis to show a true and fair vlaw of the Clrcuiys financaal posi11on and acllvllles. Income Recognltion. Income is induded in the Sfatementof Flnancial Aclivities {SOFA) when Ihe Circuit becomes entilled lo the resources, and Ihe trustses are r8asonably rtain Ihey will re1ve Ihe re60urces' and the mnalary value con be measured wilh sufflrient reliability. Assessments on Churches are annually delemiined by the Clrcuit and paid by the Churches quarterfy in advanc&. Ino)me is accounted for on a re1Vable basis. Income received in advanc8 Is deferr6d to the perfod to which it rèlabs and any unpaid assessment is shown as a debtor. Rgsources Expgnded This is recognised when a Ilablllty Is Incurred. or a conslructive obligation arises, Ihat results in thè payment being unavoidable. Liabilities are recognised as soon as an ouffiow OfenOmIG benefft is considered more likelythan not underthe189al orconstruclive obligation mMitt1ng Ihe Circuit tr) pay out resources. Granls Grants ar8 recognised in fijll when the award is made on(x thp Circuit atLepts Ihal there ig a legal or nstrUCtive obligation to make the payment and that such payment is probable. VAT sin the Circuitls not VAT r¢gi5t8red, 811 Inpul VAT Is charged wilh the 8xpènses to whith It refor8. Tanglbh Ilxod as59ts for wjo by the C*¢ult These 8re capitali88d If they can be usgd for more than one year, and individually costat least £1,000. The freehold propetyis shown In theaccounts ai valuation , ofwhich the land ¢omponenl isdeemed to be £1J75,500. No deprec4ation is provided on the bulldlng$ because the Iruslees considerthe current resldual falr value of the manse buildings {on the assumption that it had reached the end of ils Lbseful economic lite by the ye8r-end) to be notless than Its urrentvalue. Any depreclation would not be material. Thg Cost ofthe propertles 18 not known. Investment Propertks nvestment properties- no propety Is currendy deemed to not be held forlhe long le purposes ofthe charity.
Wey Valley Methodist Circuit Yearto 318tAugust 2024 Notes to the Accounts (continued) S Aecwnting policies Icontinugd) Invoslmerbts The investments of the Circuit are held by the Trustees for Methodlst Church Purposes ITMCP) as custodian truslees. The valuations, al marketvaluè, ar8 those provided by TMCP. The unrealised gains arising on investmpnts atthe end of lh8 year are shown in the SOFA Dobtorg and Prepaymonts Dèbtors are stst6d atthe amounts owed to the Circuit or prepaid. Crgdttors Creditors are initially recognised at settlement amount after any trade discounts, wh8r8 nomial credlt tems apply. or amountadvanced to the CircuiL Subs6quènly fftditors thatare current liabilities are measured atthe cash or other conslderation expected to be paid. Bank and Cash The Ilquld funds of bank balances and depo8llaccountbalan8 ar8 shown atlhe realisable values Methodlst Connexlorbal Funds The Methodist chUh Connexion rai$es assassrnent against Circuits and th8s8 are paid quarterly to Ih8ir Dlslricts. The Cir¢uits raise assessments against Churches in the CircuiL Th8 District quarterly remits to the Methodist Church Fund most of the fijnds receivèd from Clrcuits. A small sum is retained by the Dislrict to meet its own costs. Penslon Stipendlary Circuit Ministers are ellglble to join the Methodist Miniskr8' Pension Scheme (MMPS). The MMPS is a funded defined benefit scheme malntsined by The Melhodist Church of Great Britain. As the Circuiti8 unable to identify its share of Ihe underfylng assets end liabilities ofthe scheme, the Clrcutihas lak8n the advantsge ofthe exemption in Financial Reporting Standard 102 Retirnent Benefits. and has aCUnted its contributions to th8 schema as if il were a defined contrlbution sch8me. The pension costs for the scheme represent the o)ntribution payable by Ihe Circuit in the year. The conlribution r8tes are set each year by the Methodist Conference,
Wey Valley Methodlst Clrcult Yearto 31stAugust 2024 Notes to the Accounts (continued) 2024 Total 2023 Total 6. A$sessmorts Chwche8 Unr•strlcted Addle8knne Methodlst Church Byfi6ot Methodlst Church Cranlèlgh Mbthodist Church (knalming United Church 13Jildfj)ffl Methodist Chur( Knaphlll Methodl81 Church Merrow Melhodlst Church st Mlchaels Sheerwater stoughton Methodlst Churth Walton-on-Thames Methixllst Chuff West Hor$18y Methodistchurch weid9& IAethodlst Church Trinity Melhjdlsl Church Totsl 12.794 39.919 23,921 74.624 16.740 I213 39222 23,503 n.321 16848 44.656 37.1 JQ 31 14J72 37 9M5 14,103 75211 39,919 23,921 7424 16.740 37,790 2,399 15238 38274 37,790 2999 15238 38274 9J59 14.353 76348 407J04 14.353 76.548 4O7J04 7. Othèr Chirital Other inGomg Mansg letting Income Total 3,138 18,000 3.138 1800 8. Inctyno frtyn Monetary *westhi•n Central FOTrano Boartl - knlerest DIdendS Other Bank Int8rest Total 15.980 15J80 9.100 10,434
Year lo 31$tAugu812024 Note6 to the Accounts Icontlnuèdl 2021 Yrnyeiandothereipenv5wqro relmbirt•d&) truBknbsa&ll0Ws NumberolknJBleeswhowEr6 paid T(rtalaMourawld 12.242 Othrr¢latsdvfiytr4n1Ètkn The arlIp[¢d9sjr&nts ID its mnstillRIrfiUh03 8$ dèbied 12. The ¢IffjuilièriW$ fvJndiry Irn cnJtteÈ AÈ Oisdo$gd In nots 6. 6Wn•y SBmu•l wcèl¥Qd al¥vln9 •rf£S1o h)VohKti ¢offlthbuiqd. Th• ClrDJi&'Jham oltt Pr¢Gbyb3F8oeoJpythe mbfi£8$ownt¢J ¥non4iThkSnedbythB Circuil, Asl8lhtUSUql praBkne4, manse ut411tsand OthÈr tos&4rpaid bythg Cirthlllnd •re nolirdudèd &bow Dok•. Ihe 8tsmeThlolFinnti8lAdhVl8S showslh• fjtsoltho ¢vdng tha year. h9 Blernployee$.theyrnoy£lo rotol¥q oipenses ih•¥•wWoyrn•ntwhl( gr8 Indtsd•d in b•abov•thKJD¥L¥•. D10119118¢ p•nJSoDs•r• bd¢w. dvjrrth EAnployeeg pald byh• ¢renon trJAndNllthnn0 •>tr. 32.13B O•wd Faulkner ?f.YU4 27,1ts1 29234 29?y 32,1.18 ?9.7gT Iobi arnOunip4kl 123A44 142.2BO P1 (4a¥& Dald Fwlkner 7ffj1J 72 ?244 1244 7244 7214 71? 7012 7¥12 T1 orTN]Uni4 ' Pr¥•brIr• pllld •pre¥¢t1b•ditspond0pp¥ed byth• Ikknodillconkrn&7. IAi4nl•l•r¥Dnd•¢ Irlid bofN51aqi 010 Chartty byth&cDnslWIODolth• c11tl0 bid down byth• M•thgdlrtChvr( JeJ2D Itb. F••1 trournkwtlon¢Jr4udltdthD4Cc(rt tor5fe8$ 5)rTeporUTra on tre #Lok1 4,VOO 4.90 st4l1CfAl•j&dJrlrth0 yvlrYAIt•'. 1TdA44 7479 12249 13.7 32249 142280 FJnF4ny<$ NttohAI &sts DtWparniitythepBftsiMfund reJw 2D5351 4mth•ddwftyth•y4rv1'. ThgcwJIlpapp1oy•85th(CL¥h c•ntrAI M•thOL4p4dl 6Oèfflwhl¥ Is B01upatPArwill•vel * InrlJdglay ery0¥0[• LI1u(rjjeL ' So• not4 9 NoèmpknyBo8N(l¥d amployiv bpnf¢riornuo•rthn{0%dmo•rtwthllOofiW6b1 DfrrmthBn E60,000. ¢11¥47lJp•rlnhnd•nl,Pr••tyt•Mandlrth Th& &JnInd6nI ol the Cirtts1L and Dther PteÉbyth and th• rnmAiIn9 Memb8 or• ¢ons1(knd bi be Key Monegement Pornonn81. Thb Sup8rfnLsvd•nl Lgit8 th8 CilfAAI mèJng$. thmbjrn ol the CiTculI ar8 ol th• CArvJiL Tho atsprynd&, ery19rI IIIC enw&)54rS Dnd oth¢r•p¢nsoB ofthe pblS010 Ckcu1tOT• paid P•nskms oaIned Prmblts llnrt d4£con8 mBmb•r4 01thg KtsthodlqiuinlÈkir# P4Trslon thWPSl whlL * a d¢lined benÈlil $thamo. The Supreme Gourthghj in2014 IWMèknth$t ministsra Iwhlth him indude5 prb}I•la dBw}lre ADl0¢ye•9 ufth+ chu1, FgrrnF4idrs, )r.¥lhPn dgBlinH wlthNvlon•l Cothbulon• nop0 tr)nkSbuttDnl, th• lfjrrns'employorf qnth'omployoB'aTrv2•dahgywouhl bo Inan ¢1101 trlY. Lay gIV L¥Jntra¥p1IY emplgyt•4 4nd rnoy b• Nquirnd lo b8 au •nfoll•d In ClroJii NEST lJJts> qfKolnDt whlEh Is e delned A benèfii CirLJJii An I) kni s¢hv Th8¢wnwlUn4Ub MMPSpInan8ffi&l¥TrolWthO ur•s•fjnnUl thod111¢fth In L¥•81 n gcoJwi%. Th8 KIMPB IB In d•l(il bJt • plan teffV41 of the d•lltiL h•B b•gn •nd Is belivj Chwdi E•th Pl•V |s•ThOU•d 3monlh sabbBrtcthl•Nry sy8 ihe •KPBllEo1 Inrlirrnd hyth8 PrO¥bWw8 rnbY th•C•#In bpJyth•qOpond. %•{rth• Ivsb•Dn no vabba¥c41u. The CIKthi rtoegnoldeuuo S)rhollttBy p¢yrABl1gr&lnlO1aCfWwthO holdayAqsnÈ8dodwl01eX pay.
Way Valley Methodl8t Clrcult Yaar to 31st August 2024 Not•s to the AcGounts (contInU> 12. Grants arml D¢xwtlrn• approv•d ty th• CIrC M••tlng 21J24 2023 Dlstsl Sheefwabr Trfnlty Tatal tar th&y•ar 145,0001 (45.000} To churth
Wey Valley Methodist Clrcuit Year to 31 st August 2024 Notes to the Accounts (contlnued) 13. Tangli )19 Flxed Ass•ts M8nses were valued on 17th July 2021 at fair value at 31st August 2020 by Christopher Winser, Chartered Sufveyors IRICSI 8 Regi8ter8d Valuer with experience in Ihe area. RIdentIal Land Other Land Manses Total gquipment Balance broughtk)rward Additions Revaluations (+k) Dis osals (- Transfers ' (+l-) Balance carried forward Accumulatsd Oeproclation 4.785.000 22.028 4,807,028 4,785,OLX) 22,028 4,807,,028 Basls Rale SLorRB RB 200 Balance hroughlfoNard Depre(aalion char Revalualions (+l-) Dls sals Transfèrs'1+1-) Balance carried forward Net book value Brought fi)an1 Carried forward 22,028 22,028 22.028 22.028 4,785.000 4.785,000 4,785,000 4,785,000 The rnanses arp held on trustfor use by Ihe Clrcult In the namos ofThè Trustees ofthe Woking Wesley Manses and Tnjskes for Melhodisl Church Purposes, In the event ofsale the charlty only recelves a proporlon ofthe Proed$ and may applyfr)rgrants from the remaining balance.
Wey Valley Methodlst C ircuft Yearto 31st August 2024 Notes to the Accounts (continued) 14. Inv08tmonts The funds that support the Circull Model Trust Fund and Ihe Manses Fund a held by TMCP In Trustees Inkrest Funds on whlch In(e$t18 credlted to the accounts each month. These are garded as medium and long tsrm Inveslments. TMCP is lh8 legal owner and Custodian Trustee of all Methodist Model Trust property. Induding Legaoies, EndowmenL8 and Accumulaled Funds. TrLisl propoty is held for and on behalfof local Managing Trusl8es who are responsible for Ihe day to day m8nag6mentof trusl property. TMCP &nsi.Ir() Ilial, through proyidlng guidance ancl acting under their direclion. the Managing Trustees comply wilh charity law and Methodlst law and policy as determinod by kne VEthodist Conference. Analysis of Investment movements 2024 5,742 2023 Investments Ilsted on a reex) nlsed Stock Exchan Investfflenls held in common inv&strJenifiJnds, SecuTities not listed on a re nised Stock Exdlan tjher invesbnents- (xsh 287.071 292.813 282,254 287,584 Total Cha e In Inv8slment value5 Ca in market value at be innin Add: additions to investrnents at cosl Less: dis osals at ca value and n8tcash wilhdrawals Net alnl loss on revaluation Car market value at ftnd of of ar 267.584 5.641 341,821 54.087 150 412 292A13 ar
Wey Valley Methodist Circuit Year to 31st August 2024 Notes to the Accounts (continued) IS.Analyd5•1¢urrent assets 2024 2023 Debtwsandpfepzffjients OutstandingpaneThtSfDI lry workws 14.796 15.902 44,130 18,210 9338 20.998 15,S88 Prepaymentsand accrued Income Otherdebtors QuiandIng3st paymellts Totsl debtorsand prepayrnents 36,586 AnayslsofshaIbk Bankbal8ncehdd in Barclays Bank ba1ceheld In CAF Bank )kbalancehdd In CF&Bank Cash In hand Totsl Cash am1k 3.655 4.839 4.561 12G.751 31,702 78,782 114.139 136115] 16. An•lWsof currntllAbllltleJand l¢nÈtermcr•dltors 2024 2023 TradeCr&Jltors PrepaldAssttsmthts orher Crejltors Total CunentU4Hlltles 97.037 21,056 118.093 95,655 23.510 119.165 17a Grknts¥pprosd but not pald du• vAthln on• yE4r 2024 ZOZ3 een¥aterthur¢h rooerepalfs Sheerwatsrchwch TrinltyMthodlstthur¢h ffia1nten d$llaS 10,000 10,000 10.000 17b. Graitsapprovèd but not pald due oftorvne year 20Z4 2023 Shr*terchurch-IQ.Ol)ll PEf yearfor2 years 20,000 20.UOD 20.000 20.000 18.Capltsl CommltmEnts and ContlnBent Llabllltles Theclrcult had no commitrnentstD Circult Churches lor propwty maintenanal theyear end othor than 8r•nts that were ¥Jeed by thtclrcult Me£tln8. Therewereno Contin8a)t liabilltle5 attheyear end. 19. Volunteercontrfbutlons Every lIty wlthln the Methodlst Church In Great Britain Is h¥blY rdlant ort voluntr5 who rontrlbule thelr skllls, tlme and rnon In fvrtherance of the work of the Church. Prlncipally thls contribution is by swvln8 on commItt5 of the Clrcult that Lleal wlth misslon, mon, finan¢¢ Brant¥ tiainlngand dthl¢pment.
11111 1111 11111 111111 11
Independent Audltor's Report to the Trustees of the Wey Valley Methodist Circuit This Report is on the Circuit Accounts for the year ended 31st August 2024 Oplnlon We have audited the financlal statemenls of Ihe Wey Valley Melhodisl Circuit (the 'charlly'I for the year ended 31st August 2024, whlch comprlse the Statement of Financial Aclivily, Balance Sheet and Notes to the Financial Stalemenls, includlng a summary of significant accounting policies. The financlal reporting framework that has bean appli6d 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 Praclicel. In our opinion the financial slalemenls: give a true and fair view of the stale of the charity's affairs as at 31 st August 2024, and of its incoming resources and application of resources. for the year then ended: have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the r6quiremenls of the Charities Act 2011. Basls for opinion We conducted our audit in accordan with Inlemational Standards on Auditing (UK) IISAS (UK)) and appllcable law. Our responsibilities under those stsndards are further descrlbed in the Auditor's 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 lo our audll of the financial statements in the UK, includlng the FRC'S Ethical Standard. and we have fulfilled our other 61hlcal responsibililies in accordance with these requlremenls. We believe that Ihe audil evidence we have obtained is sufficient and appropriate to provlde a basls for our oplnion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concom basss of accounting in the preparation of the financial statemenls is appropnate. Based on the work we have performed, we have not identified any malerSal uncertainties relaling to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to conlinue as a going concern for a period of al least Iwelve months from when the financlal statements are authorised for issue. Our responsibilities and the responsibilitiès of the trustees wSth respect to going concern are described Sn the relevant sections of this report. Other information The Irustees are responsible for the other infomiation. The other information comprises the informallon included in the Iruslees, annual report, other than the financial statements and our auditor's report there on, Our opinion on the financial slalements does nol cover the other information and, except lo the extent otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomation and, in doing so, consider whether the other information is materSally inconsistent with the financial slalements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we idenlrfy such material inconsistencies or apparent material misstalemonts, we are required to delermine whether there is a material misslatemenl in the financial statements or a material misst81ement of Ihe other information. If, based on the work we have performed, we condude that thare Is a material misstatement of this other information, we are required to report thai fact. We have nothing lo report in this regard. Matters on which we are requlred to report by exceptlon We have nothing to report in respect of the following mallers in relation to which tha Charilles (Accounts and Reports} Regulations 2008 require us to report lo you rf, in our opinion.. Ihe infomiation giv8n in th6 financial statements is inconsistent in any material respect wSth the trustees. report; or sufficient accounting records have not boen kepl,. or the financial slatemants are not In agreement wllh the accounting records,. or we have not rèceived all th6 informatlon and explanations we require for our audit.
Independent Auditor's Report to the Trustees of the Wey Valley Methodist Circuit (continued) Responslbilitles of trustees As explained more fully in the trustees, responsibilities slatemenl, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal controls as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial slatemenls, Ihe trustees are responsible for assessing th8 charity's ability lo continue as a going concern. disclosing. as applicable, matters related lo going concern and using the going concem basis of accounting unless the Iruslees either intend lo liquidate the charity or to cease operations, or have no realistic alternative bul lo do so. Auditor's responslbllltles for the audlt of the financial statements We have been appointed as audllor underseclion 145 of the Charities Act 2011 and report in accordanc6 with the Act and relevant règulations made or havlng effecl Ihereunder Our objectives are lo obtain reasonable assurance about whether the financlal statements as a whole are free from material misslalemenl, whether du8 to fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audtt conducted in accordance with ISAS {UK) will always delecl a material misstatement when it exists. Misstatements can arise from fraud or error and are considered malerial if, individually or In the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of thes6 financial slatemenls. Extent to which tha audit was capable of dotecllng Irregularllles, Includlng fraud Irregularities. including fraud, are instances of non-compliance wSth laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material mlsstalemenls in respect of irregularlties. including fraud. The exlenl lo which our procedures are capable of detecling irregularllies, including fraud 15 detailed below.. Agreement of the financial statement disclosures to underlying supporting documentation,. Enquiries of the trustees as to their identification of any non-compliance with laws or regulations, or any aclual or potential claims., Review of minutes of Board meetings throughoLrt the period; incorporallng unpredlclabilily into Ihe nature, timing andlor extent of testing. Evaluation of the selection and applicalion of the accounting policies chosen by the charity. In relation to the risk of manag6ment overrlde of intemal conlrols, by undertaking procedures to reviow joumal entries and evaluating wh8lh&r thera was evidence of bias thal represented a risk of ma18rial misslalement due to fraud,. and We assessed the susceptibility of the charity's financial stalements lo malerla1 misslatemenl. including how fraud mlght occur by considering the key risks impacting the financial statements. Our audit procedures were designed lo respond to risks of material misslaternenl in the financial slalemenls, recognising that the risk of not detecting a material misslatemenl due to fraud is highèr than the risk of not detecllng one resulting from error. as fraud may involve deliberate concealment by. for example, forgory, misrepresentations or through colluslon. There are inherent limltallons In the audlt procedures performed and the further removed non-compllance with laws and regulations is from tho events and transactions reflecled in the financial stalemenls, the less likely we are to become aware of It. A further description of our rosponsibilities for the audit of Ihe financial statements is located on tho Financial Reporting Councll's website at.. .fr¢.Org.uk18udlt0rsreSponslblliIles. This description forms part of our audit report.
Independent Audltor's Report to the Trustees of the Wey Valley Methodlsl Circuit {conlinued) Use of thls report This report is mada solely lo the charSty's trustees, as a body, l accordance with Part 4 of the Charities (Accounts and Reports) Ragulations 2008. Our audit work has been undertaken so that we might stste lo the charity's trustees those mattèrs WÈ are requSred lo slate to Ihem in an auditor's report and for no olher purpose. To the fullest extent permitted by law, wa 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 oplnions we have formed. Begbies Chartered Accountants & Statutory Audltors 9 Bonhill Street London EC2A 4DJ Dated: Begbies Is ellglble for appointment as auditor of the charity by virtue of ils ellglbllSly for appointment as auditor of a company under section 1212 oflhe Companies Act 2006,