2025-08-31-accounts - Wey Valley Methodist Circuit

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Wey Valley Methodist /@—

WEY VALLEY METHODIST CIRCUIT

TRUSTEES’ REPORT & FINANCIAL STATEMENTS To 31% August 2025

Administrative Information

Wey Valley Methodist Circuit consists of 13 churches, from Walton-on-Thames in the north to Cranleigh in the south.

The Circuit 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

Byfleet Methodist Church, Rectory Lane, Byfleet, Surrey, KT14 7LL Cranleigh Methodist Church, 188 High Street, Cranleigh, Surrey, GU6 8RL

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Godalming United Church, Bridge Road, Godalming, Surrey, GU7 3DU

Guildford Methodist Church, at St Mary’s, Quarry Street, Guildford, Surrey, GU1 3UP Knaphill Methodist Church, Broadway, Knaphill, Surrey, GU21 2DR

Merrow Methodist Church, Bushy Hill Drive, Guildford, Surrey, GU1 2SH St Michael's Ecumenical Church, Dartmouth Avenue, Sheerwater, Woking, Surrey, GU21 5PJ Stoughton Methodist 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, Weybridge, Surrey, KT13 8TB Trinity Methodist Church, Brewery Road, Woking, Surrey, GU21 4LH

The full correspondence addresses of the six manses in the Circuit are:

8 Eastgate Gardens, Guildford, Surrey, GU1 4AZ

Epworth, Charterhouse Road, Godalming, Surrey, GU7 2AL 72 Collingwood Crescent, Boxgrove Estate, Guildford, GU1 2PF

48 Lane End Drive, Knaphill, Surrey, GU21 20G

2 Clements Road, Walton-on-Thames, Surrey, KT12 3LY

36 Woodham Road, Woking, Surrey, GU21 4DP

Correspondence for the Circuit should be addressed to the Superintendent Minister or the Circuit Administrator, Ms Lucy Venmore, Circuit Office, Merrow Methodist Church, Bushy Hill Drive, GU1 2SH, email: circuitoffice@weyvalleycircuit.org.uk

Circuit Meeting Members (Managing Trustees)

Circuit Meeting membership is made up of the ministerial team, supernumerary ministers, Circuit officers, and representatives from the churches. Guidance on procedure and membership is taken from the Methodist Church Constitutional Practice and Discipline.

Chair — Superintendent Minister, Rev Dr Paul Glass

Secretary — Louise Steele

Ministers —Rev Sam Funnell, Rev Adam Payne, Rev George Kwasi Quarm, Rev Shaun Sanders Authorised Presbyter — Rev Canon Simon Butler

Supernumerary Ministers — Rev Claire Hargreaves, Rev Peter Hills, Rev Barrie Tabraham, RevJ Allan Taylor. Circuit Stewards —Nigel Campion-Smith, Jean Normington, David Paterson, Andy Seehusen, Ruth Taylor, Alan Steele

Circuit Manses & Property Steward — David Lander Local Preachers and Worship Leaders Secretary —Rosemary Lee Safeguarding Officer — Role shared by Pat Seehusen and Martin Seehusen

Church Representatives:

Addlestone — Fred Rowe, Celia Kim-ford Byfleet — Pamela Bailey, Vaughan Starkey,

Cranleigh — Hilary Strawson

Godalming — Margaret ireland, Julie Rowling, Alison Briscoe Guildford — Andrea Campion-Smith, Michael Lee Knaphill —Lynda Shore, Linda Todd Merrow — Julie Wallis, Carole Steele St Michael's Sheerwater — Naomi Belli, Peter Francis Stoughton — Carole Steele, Linda Macbeth

Walton-on-Thames — Duncan Curtis, Ross Richardson West Horsley — Margaret Faulkner Weybridge — Robert Lewis, Linda Weedon Trinity, Woking — John Nelson, Sue Waddell, Hugh Bowerman

Reps to Synod:

Jean Normington, Alan Steele, Margaret Faulkner, John Nelson, Linda Weedon.

Number of Members in Circuit 593

The membership figures for each church are those returned as at 1 November 2024. (In brackets are the membership figures for each church returned as at 1 November 2023).

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||||||||| |---|---|---|---|---|---|---|---| |Addlestone|Methodist|Church|12|(14)| |Byfleet|Methodist|Church|44|(50)| |Cranleigh|Methodist|Church|31|=|(33)| |Godalming|United|Church|116|(120)| |Guildford|Methodist|Church|(St|Mary’s)|35|(38)|.| |Knaphill|Methodist|Church|60|(62)| |Merrow|Methodist Church|57|— (60)| |St|Michael's|Ecumenical|Church,|Sheerwater|20|=|(20)| |Stoughton|Methodist|Church|22|=|(22)| |Walton-on-Thames|Methodist|Church|59|(59)| |West|Horsley|Methodist|Church|21|=|(13)|:| |Weybridge|Methodist|Church|22|(22)| |Trinity Methodist|Church,|Woking|94|(104)|

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PUBLIC BENEFIT STATEMENT

The trustees confirm that they have complied with their duty to have regard to the Charity Commission guidance 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 and is constituted in accordance with CPD (Constitutional! Practice and Discipline’). Oversight of the Circuit is exercised through the Chair of the Southeast District of the Methodist Church.

Circuit Mission Statement:

Circuit Mission Statement is: 'To Share the Good News of Jesus Christ for the transforming of our communities and the world’

We aim to do this by:

@ Supporting opportunities for worship and faith sharing.
@ Encouraging sharing of gifts — both talents and material resources.
@ Promoting the passing on of experience in all areas of church 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 leadership team for strategic planning and updates on developments around Circuit business. Communication is facilitated through the quarterly Circuit newsletter, the Circuit website and the Circuit Annual Report.

The following are Trust activities as approved by the Circuit Meeting:

a) To increase awareness of God's presence and to celebrate God's love through the provision of regular public acts of worship open to members of the church and nonmembers alike
b) The teaching of Christianity through sermons, courses and small groups to encourage growth and learning through mutual support and care
c) Develop an attitude of service that enables members to stand alongside those in need d) Promote activities that create opportunities for others to explore Christianity

Objectives for 2025/26:

° Help all Circuit leaders to continue to use their particular gifts in the life of the Circuit. ° Explore opportunities of covering specific areas of church life by employing lay workers. ° Encourage and assist all churches to focus on strengths and opportunities to grow their churches and impact their communities in new and imaginative ways.
° Improve interaction between churches facing similar issues, challenges, and opportunities.
® Continue to develop an atmosphere of open trusted communication across the Circuit and churches.
s Provide a range of relevant and accessible training, particularly focussing on maintaining the highest standards of safeguarding.
° Continue to develop a five-year Strategic Staffing Plan.

Review of Progress and Achievements 2024/25

In the Methodist Church "the Circuit is the primary unit in which Local Churches express and experience their interconnexion in the Body of Christ, for purposes of mission, mutual encouragement and help". (from The Constitutional Practice and Discipline of The Methodist Church) To this end the leadership team continues to encourage interaction of churches in the Wey Valley Circuit.

There have been positive signs of green shoot growth in areas of the life of the Circuit but the financial outlook continued to be challenging for churches with the current economic conditions making the letting of premises challenging while facing older congregations less able to cover the roles that are needed.

The Circuit finaricial situation of the Circuit has continued to improve, helped by reduced manse maintenance and minister headcount. However there are still significant financial issues that need to be addressed particularly as individual church membership continues to fall. To insulate the Circuit from the financial uncertainty of not being able to meet ministerial salary and housing costs the Circuit initiated three initiatives in the year under review.

Firstly it froze the payment of grants except for emergency purposes during this financial year- no grants were paid during the year. This was achieved and will be carried forward into the coming year.

Secondly it actively reduced its cost base by reducing the ministerial head count and renting of vacant manse to obtain additional income. Both these actions did occur and the reduced head count and manse rental are set to continue into the next year and plans for 27/28 are to reduce the headcount further.

Thirdly it undertook to provide churches with support and ideas of how to grow their membership and optimise their cost base. These have had mixed results with some churches reversing a declining membership trend while in other churches it has had little impact. However, the circuit plans to continue providing this support as they still believe Churches are benefitting from these initiatives.

As with all Circuits pressures to cover planned Sunday preaching appointments have continued however the Circuit currently has three new preachers in training. The Circuit continues to encourage churches to explore and develop new ways of delivering worship as well as providing confidence building training in the delivery of Local Arrangements.

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 meetings 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 Woking, Trinity 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 ‘Chit-Chat’ a weekly conversation. event for people with English as a second language as well as.a weekly Vigil for Peace at St Mary's, Guildford.

The Circuit’s quarterly magazine, The Wey Forward, continued to be a key tool of communication within the Circuit. These are available in hard copy as well as downloadable as a pdf via the Circuit’s 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 preaching plan continued to be available here too.

To provide full administrative support for the Circuit, the Circuit Administration Officer and PA to the Superintendent, continued working five mornings a week, with three of these mornings working from home.

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 with the Superintendent Minister and the District Safeguarding Officer as required. The local Church Safeguarding Officers meet periodically with the Circuit Safeguarding Officers. This Circuit Safeguarding Team meets with the Superintendent Minister and the Regional Officer for Safeguarding as required. Safeguarding Team are assisted by the Superintendent Minister and District staff in keeping DBS checks current.

Fundraising

The Circuit is 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 mindful of the provisions of the Charities (Protection and Social Investment) Act 2016 and we are guided by the Charity Commission publication ‘Charity fundraising: a guide to trustee duties (CC20) and the Code of Fundraising practice.

Approach to fundraising

‘

We always ensure that our fundraising is 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 commercial 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 Methodist Church of Great Britain and through our auditors. t.

Monitoring offundraising carried out on behalf of the Circuit

All fundraising activity of significance must be approved by the Circuit meeting (attended by all trustees) 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

As a Circuit we are committed to ensure that:

e We provide protection to the public, including vulnerable people, from unreasonable intrusive or persistent fundraising approaches, and undue pressure to donate.
@ Weasa charity will adhere to ethical fundraising processes in line with the Charity Commission’s Charity fundraising: a guide to trustee duties (CC20).

Financial Reports and Schedules

Wey Valley Circuit Reserves Policy

The Wey Valley Circuit is part of the Methodist Church in Britain Registered Charity no 1132208. The Methodist Church is divided into 29 Districts and each District is divided into Circuits. The Wey Valley Circuit is part of the Southeast District and has responsibility for 13 Methodist churches. The Circuit has five primary goals:

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 . Commission.
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 its appointed ministers. Where there are insufficient ministers to provide the required services that suitably qualified lay volunteers are in place.
To provide serviced housing for all appointed ministers in accordance with standing _ orders guidance.
To provide leadership and direction for churches to facilitate bringing members of the churches within the Circuit into a deeper fellowship with Christ.
To manage funds built up over time due to sale of Churches, manses, donations and the like. These funds where they exceed the reserve limits will be made available for allocation to churches, on receipt of an approved application, to fund repairs and projects at a church level.

The Circuit receives its income from the churches who contribute a fixed quarterly amount, their assessment, which is determined annually based on factors including the size of the church and its ability to pay. The Circuit draws up a budget annually which estimates the level of expenditure expected in thé following year. The Circuit has four main areas of expense:

Payment of Ministerial stipends. 2. Payment of services, rates and repairs on the houses allocated to ministers. 3. Payment of lay staff members and office costs relating to the Circuit Office. 4. Payment of the District Assessment

To achieve its objectives the Circuit needs to ensure that it has sufficient funds to cover the ministerial stipends, ministerial housing costs and Circuit 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 sufficient reserves to cover their running costs and Circuit assessment is a key part of the reserving policy. Mindful of our Biblical responsibility not to hoard it is important that this be balanced with a sense that we need to be forward looking and plan for known events and responsibility for others (including employees) is important. So the Circuit has set in place a policy for churches to hold 6 months’ running and assessment costs in reserves. During the year under review all churches were able to adhere to this policy, 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 is currently 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 assessment.

Overview of reserves and expenditure

a Reserves excluding	2025 387,471	2024 351,897
Property YearlyExpenses	414,649	407,810 Po
Expense cover in		0.86times
reserves

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.

Financial Strategy

The financial strategy of the Circuit is driven by the overall mission aims.

Specifically, we aim to:

@ Support the ongoing activities of Circuit churches by providing financial assistance where needed to address urgent issues that are restricting or threatening the continuance of activities.
@ Provide adequate reserves to cover the obligations of the Circuit whilst providing stability 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 significant sums currently held by the Circuit are designated for specific projects or to cover for planned changes, the investment policy is for low risk and funds are held in cash.

The Unrestricted Funds are comprised of:

Designated Funds	£ 9,695
Funds represented by illiquid fixed assets	£5,520,000
Free Reserves	£ 383,529
TotalFunds	£5,913,224

Financial Information

The Circuit has budgeting for a small surplus for the year to 31 August 2026 and aiming to continue the trend in the following year, owing to a reduction in costs reflecting, a reduction in the level of ministerial staffing, 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 Circuit accounts under a responsibility delegated from the Trustees for Methodist Church Purposes (TMCP) from whom approval must be sought when disposal or short-term rental is recommended by the Circuit 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

CIRCUIT Accruals ACCOUNTS

THE METHODIST CHURCH

STANDARD FORM OF ACCOUNTS

WEY VALLEY METHODIST

Gireuit

FOR THE YEAR ENDED 31 AUGUST 2025

Registered Charity - Charity Registration number 1137300

If not a registered charity Her Majesty's Revenue and Customs Gift Aid number || (The HMRC number is equivalent to a registered charity number in terms of evidence of charitable status and may be used to give to donors or grant funders wishing to see evidence of the organisation's charitable status. Methodist charities in England and Wales that are not registered charities are excepted from registration under Statutory Instrument 2014 No.242 )

Ministers:

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Treasurer:
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Wey Valley Methodist Circuit Trustees’ responsibilities statement Year to 31st August 2025

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.|n preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently; * observe the methods and principles in the Charities SORP; , * make judgements and estimates that are reasonable and prudent: * state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; * prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at anytime the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hencefor taking reasonable , steps for the prevention and detection of fraud and other irregularities. ' Approved by the trustees on... hed and signed on their behalf by: . an Vad (UW. aApri| a) LOZ

P Glass Chair of the Trustees

Name of Circuit: WEY VALLEY METHODIST CIRCUIT

Circuit No 2016

Statement of Financial Activities (SOFA) for the year ended 31 August 2025

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||||||||| |---|---|---|---|---|---|---|---| |Notesto|General|Circult|Model|Designated| |the|Fund|Trust|Funds| |account|(Unrestricted|(Unrestricted|(unrestricted|Total|2024.|Tolal| |s|)|)|)|25|2023-24| |Income|£|E|£|£|£| |2|Income|from monetary investments|8|16,297|16,297|19,099| |3|{ncome from investment properties|- lettings|7|26,958|26,958|18,000| |4|Assessments on Churches|6|407,904|407,904|407,904| |6.|Assistant Chair Allowance|0|15,884| |7|Other charitable income|7|4.606|4,806|31398| |8 Total income|455,965|:|-|455,965|464.1125| |Expenditure|a|ed| |9|Grants and donations|12|.|0|0| |10 Salaries and associated costs|11|246,646|246,646|205,551| |11|Expenditure|on property|72,591|72,594|117,676| |12 South East District assessment|15,012|15,012|16,012| |13|Methodist Connexional|Fund and TMCP|Levy|65,736|158|65,894|65,148| |15 Office expenses|14,292|14,292|20,588| |16 Other outgoings|214|214|281| |17 Total|charitable expenditure|414,494|455|0|414,649|423,604| |18|Gains/(losses)|on monetary investmenis|1|41|412| |19|Gainsilosses)|on|investment properties| |20 Net income/(expenditure)|41,474|147|0|41,327|40,743| |21|Transfers between funds|0|0| |22 Other gains/(losses)|13|735,000|735,000|0| |23 Net movement in funds|776,474|47|0|776,327|40,743| |24 Total|funds brought forward|$075,846|61,556|9,695|5,136,897|5.096.154| |25 Total funds carried forward|5,852,120|1,409|9,685|5,919,224|5,196,807| |es|snd Ak|al|

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Circuit No 2016

Name of Circuit: WEY VALLEY METHODIST CIRCUIT

Statement of Financial Activities (SOFA) for the year ended

31 August 2024

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|||||||||| |---|---|---|---|---|---|---|---|---| |Notes|to|General|Circuit|Designated| |the|Fund|Model|Trust|Funds| |account|(Unrestricte|(Unrestricte|(unrestricted|Total| |s|d)|qd)|)|2023-24| |£|£|£|£| |Income| |1|Donations|and|legacies|0| |2|Income|from|monetary|investments|8|19,099|19,099| |3|Income from|investment|properties|-|lettings|7|18,000|18,000| |4|Assessmente on|Churches|6|407,904|407,904| |§|Capltal|Recelpts|0| |6.|Assistant Chair Allowance|15,884|15,884| |7|Other charitable|income|7|3,138|3,138| |8 Total income|464,025|-|-|464,025| |Expenditure| |9|Grants|and|donations|12|.|0| |10 Salaries and associated|costs|11|205,551|205,681| |11|Expenditure|on|property|117,676|117,676| |12|South|East|District assessment|15,012|15,012| |13 Methodist|Connexional|Fund|and TMCP|Levy|65,006|142|65,148| |14|Depreciation|0| |15|Office expenses|20,588|20,588| |16 Other outgoings|-|261|+281| |17 Total|charitable expenditure|423,652|142|!|423,694| |18|Gains/(losses) on|monetary investments|,|412|412| |19|Gains/{losses)|on|investment|properties| |20 Net income/(expenditure)|40,473|270|0|40,743| |21|Transfers|between funds|0| |22|Other|gains/(losses)|-|0}| |23|Net movement|in funds|40,473|270|0|40,743| |24|Total funds|brought forward|5,035,173|51.286|9.695|5,096,154| |25 Total funds carried forward|5,076.646|51,656|9,695|5.136.897|

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‘

Name of Circuit

WEY VALLEY METHODIST CIRCUIT

Circuit No 2011

Balance Sheet as at 31 August 2025

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |General|Fund|District|Designated|||Totals|2026|Totals|2024| |(Unrestricted)|| Advance|Fund|Funds| |(Unrestricted)|||(Unrestricted)| |Notes|to|the| |Accounts|£|£|£|£|£| |Fixed|Assets| |Tanalble|fixed|assets|5,520,000|5|;|a|5,520,000|4,785,000| |investment properties|}|——_——____|_______}| |linvesimentsSSSCSCSC~—~SYSSC‘“SSCdSSTTTTCdYCCTO]|CST SSC]|SSC|TM| |Total fixed assets}|||5,520,000|5,763|0]|6,525,753|4,790,742| |Current|Assets|'| |[Debtors|Cd]|SUA|§5,824|93,038| |Loans|by|the|District|||es|ee|ee)|0| |Investments|with TMCP|234,730|45.656] 9,695]|290,081|287.071| |Central|Finance|Board|Deposits|[S||103,376]|||103,376]|78.782| |[Cash|atBankandinhand|||8|||IB]|||||TOG]|85,387]| |||[—Totalcurrentassets|]| |Current|liabilities|«||__|43.008]|45,688|eae]|499,019|794,248| |[Creditors|(due|inundertyear)|[||16|joisde]|104,548|118,093| |Grants|payable within|1|year|10.000;|=|sd|10,000|10,000| |Total|current|liabilities| =|[111,548]|:|111,548|128.093| |Net current assets/iabilities]|382,120]|45.656|9.695]|887,471]|366.155}| |Total|assets|less|current|liabilities| |5,852,120|51,409|9,695|5,913,224)|5,156,897| |Long term Jiabilities| |(due|after|more|than|one|year)| |Grants|payable|after morethan|yeaj|17|||OP|20,00| |loanstotheDistict||]|dP|CU|TCC|CS| |asses}||na|aaa||aa]|—| |Funds|of|the|District| |District|Advance|Fund|(Unrestricted)||__5,852,120]|5.075.646| |51,409|61,409|51,556| |Designated|Funds|(Unrestricted)|9,895|9,695| |Total Unrestricted|Funds||||re| |Total Funds ae|A)|51,409|9,695|5,913,224|5,136,897|

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ey David Paterson Wey Valley Methodist Circuit Treasurer Date: te /¢ [v¢

Name of Circuit

WEY VALLEY METHODIST CIRCUIT

Circuit No 201(

Balance Sheet as at 31 August 2024

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|
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|||General Fund
(Unrestricted) |Advance|District
Advance Fund
(Unrestricted) |(Unrestricted)|Designated
Funds
(Unrestricted)||Totals 2024| |---|---|---|---|---|---|---| ||Notes to the|||||| ||Accounts|£|£|£||£| |Fixed Assets||||||| |Tangible fixed assets
Investment properties
rs
investments —SSSCS~iSC“‘“ SSP
Total fixedassets|||4,785,000
4,785,000|57i
5,742|i
0|4,785,000
|
SC
4,790,742|| |Current Assets||||||| |||93,038)|||||93,038| |Loans bythe District
po
investments withTMCP
231,562
45,814|~~-9,605}
287,071
Central Finance Board Deposits
78,782}fs
78,782
CashatBankand inhand
588]
SSSSC~dCSSCS SSCS 8
|_—‘Totalcurrentassets|
—~«___arse]
ara]0.608]
404,200
Current Itabilities||||||| |Creditors (due in under 1 year)||118,093,||||| |Grants payable within 1 year
Totalcurrentilabilities|
Netcurrentassetsifiabiiities|||
||10,000]|
128.093]
310,376}
45,814]||9,608]||10,000
128,093
366,155]| |Totalagsets less current liabilities||||||| |||5,095,646|51,556|9,695||5,156,897| |Longterm liabilities||||||| |(due after morethan one year)||||||| |Grants payableaftermorethant yeal
17 |
oanstotheDistt
| ST||20,000]
|
20,000
CdPTCdSTCCdSSSCSCSSCS||||| |ner
assets| [a reeae]51,556]
9,605]||||||5,156,807| |Funds ofthe District||||||| |DistrictAdvance Fund (Unrestricted)||5,075,646||||5,075,646| ||||51,556|||| |Designated Funds (Unrestricted)|21.2|||9,695||9,695| |Total UnrestrictedFunds||||||| |Restricted Funds|22|||||| |TotalFunds|||5,075,646]=—_-51,556)||9,695||5,136,897| |Signed
y-
David Paterson||||||| |Wey Valley Methodist Circuit Treasurer||||||| |Date:
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Wey Valley Methodist Circuit Year to 31st August 2025 Notes to the Accounts

1 Basis of accounting The financial statements have been prepared under the Charities Act 2011 in accordance with the Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the WK and Republic of Ireland (FRS 102).

2 Going concern The Trustees have considered the impact the financial climate on the recovery of the Charity's income and operating cast base. Whilst it is not considered practical to accurately assess the impacts of the current economic climate, the Trustees remain confident based on recent trends plus the decisions and plans they have in place will be suffiecent to deal with any financial pressures that may arise.The Trustees have prepared forecasts of income and expenditure for the period to 31 August 2026 and have considered a period of 12 months from the date of approval of the financial statements which shows that they have sufficient reserves to be able to continue for the foreseeable future. They will continue to manitor the impact on income and take appropriate action as necessary. The Trustees therefore continue to adopt the gaing concern basis of preparation for these financial statements.

3 Funds The funds held constitute: General Funds held for any purpose of the Circuit which are unrestricted. The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is calegorised as unrestricted. Restricted funds which are held for a narrower purpose. Detalls of each material fund are disclosed in the final note to these accounts. Anyfunds may be represented by more than just cash.

4 Public benefit entity The Wey Valley Methozlist Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historic cost or transaction value unless otherwise stated in the accounting policies note(s) below.

5 Accounting policies Basis These accounts have been prepared on the basis of historical cost except that Freehold Property has been revalued to fair value at the year end and investments are shown at their market value at the end of the year, on the accruals basis to showa true and fair view of the Circuit's financial position and activities,

Income Recognition

Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability. ASsessments on Churches are annually determined by the Circuit and paid by the Churches quarterly in advance. Income is accounted for on a receivable basis. Income received in advance is deferred to the period to which it relates and any unpaid assessment is shown as a debtor,

Resources Expended

This is recognised whena liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.

Grants Grants are recognised in full when the award is made once the Circuit accepts that there is a legal or constructive obligation to make the payment and that such payment is probable.

VAT Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

Tangible fixed assets for use by the Circult Thase are capitalised if they can be used for more than one year, and individually cost at least £1,000. The freehold property is shown in the accounts at valuation , of which the land component is deemed to be £1,375,500. No depreciation is provided on the buildings because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The cost of the properties is not known.

Investment Properties

Investment properties - no property is currently deemed to not be held for the long term purposes of the charity.

Wey Valley Methodist Circuit Year to 31st August 2025 Notes to the Accounts (continued)

5 Accounting policies (continued)

Investments

The investments of the Circuit are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustee The valuations, at market value, are those provided by TMCP. The unrealised gains arising on investments at the er of the year are shown in the SOFA

Debtors and Prepayments

Debtors are stated at the amounts owed to the Circuit or prepaid.

Creditors

Creditors are initially recognised at settlement amount after any trade discounts, where normal credit terms apply, or amount advanced to the Circuit. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid.

Bank and Cash

The liquid funds of bank balances and deposit account balances are shown at the realisable values

Methodist Connexional Funds

The Methodist Church Connexion raises assessment against Circuits and these are paid quarterly to their Districts. ° Circuits raise assessments against Churches in the Circuit. The District quarterly remits to the Methodist Church Fur most of the funds received from Circuits. A small sum is retained by the District to meet its own costs.

Pension

Stipendiary Circuit Ministers are eligible to join the Methodist Ministers' Pension Scheme (MMPS). The MMPS is a ft defined benefit scheme maintained by The Methodist Church of Great Britain. As the Circuit is unable to identify its ¢ of the underlying assets and liabilities of the scheme, the Circuit has taken the advantage of the exemption in Financ Reporting Standard 102 Retirement Benefits, and has accounted its contributions to the scheme as if it were a define contribution scheme. The pension costs for the scheme represent the contribution payable by the Circuit in the year. The contribution rates are set each year by the Methodist Conference.

Wey Valley Methodist Circuit Year to 31st August 2025 Notes to the Accounts (continued)

6. Assessments on Churches	Unrestricte d	2025 2024 Total Total
	£	£ £
Addlestone Methodist Church ByfleetMethodist Church Cranleigh MethodistChurch Godalming UnitedChurch Guildford Methodist Church	12,794 39,919 23,921 74,624	12,794 12,794 39,919 39,919
KnaphillMethodistChurch Merrow Methodist Church St Michaels Sheerwater Stoughton MethodistChurch Walton-on-Thames MethodistChurch West HorsleyMethodistChurch	45,445	45,445
Weybridge Methodist Church Trinity Methodist Church Total	14,353 76,548 407,904	14,353 14,353 76,548 76,548 407,904 407,904

;

7. Other Charitable income

Other income Manse letting income Total

4,806	4,806	3,138
26,958 31,764	26.958 31,764	18,000 21,138

8. Income from Monetary Investments

Central Finance Board - Interest 3,174 3,119 Dividends ‘ ne Other a Total Bank Interest 16,29713,123 16,29713,123 19,09915,980

’ .

| | |

Year to 31st August 2025 Notes to the Accounts (continued)

Payment to Trustees 2025 2024 Travel and olher expenses were reimbursed to trustees as follows <= £ Number of trustees who were paid expenses | 1) |g Total amount paid 10,65) 12.242 Other related party transactlons The Circuit provides grants Io its constituent churches as detailed in note 12. The Circuit receives funding from {he Churches as disclosed in note 6. otherPresbyters occupy the manses owned and maintainedby the Circuit, As is the usual Practice, maris# utilities and casts ara paid by the Circull and are not Included in the abave note. The Statement of Financial Activities Shaws the cosis of lhe marises during the year, As the Presbylers are also employees, thay may alsa receive expenses relating to thelr employment which are nat inclutted in the above disclosure. Details of salaries and bersions are below. Figures exclude church employees paid by the churches,

expenses relating to thelr employment which are natthelr employment which are natemployment which are natwhich are natare natnat inclutted in the abovethe aboveabove disclosure. Details of salaries andof salaries andsalaries and bersions areare below. Figures exclude church employees paid byexclude church employees paid byemployees paid bypaid byby the churches,churches,	expenses relating to thelr employment which are natthelr employment which are natemployment which are natwhich are natare natnat inclutted in the abovethe aboveabove disclosure. Details of salaries andof salaries andsalaries and bersions areare below. Figures exclude church employees paid byexclude church employees paid byemployees paid bypaid byby the churches,churches,	Details of salaries andof salaries andsalaries andand
The following trustees received employee benefits or remuneration
(excludingemployerpensioncostsand NI} during theyear,
Presbyters *
Paul Glass GeorgeQuarm Sydneylake ShaunSanders Samantha Funnell	34.229 31,227] 31,227	___34.325]
Total amoumt paid
The total amount oftrustee pension costs isas follows:
Presbyters * Paul Glass GeorgeQuarm Sydney lake Shaun Sanders Samantha Funnel	l= 6.204	an)
Totalamount paid 24,816 * Prasbytersate paida prescribed stipendapproved bytheMethodist Canferenna All ministers andsome layworkersarerequired tobeTrusteesnftheCliarity bythe:Constitution oftheCircuitMeetinglaiddownbythe Methodist Church.
10, Fees forexamination oraudit oftheaccounts
Auditors fees forreporting onthe accounts
41, Paid employees
StaffCosts paid during theyear were:
TrusteeSalaries ~ Othersalaries Trusteesandstaffexpenses Employer's National Insurance costs Pensioncosts ® Reversal ofStipendaccrual Deficitpayment to thepension fundretumed Total staffcosts	134,142 10.713 16.242 26.293	123,444 74,879
Averagenumberofstaffemployedduring theyearwere:	a]
The Cltoult paysemployeesthroughthe central MethodistPayrollsystomwhith is.satup atcircuitfeveltoinclude layemployees of (he clreultchurches: Theabovefiguresdonotincludechutehemployees, theemployment costs of wham ane reimbursed tothe Circuit
“ See note 9
Noemployees receivedemployee benelils orremuneration (excludingemployerpension costs) ofmore lhan £60,000

Costs of Superintendent, Presbyters and Trustees The Superintendent of the Gireuil, and the alher Presbyters and (he remaining members are considered to be Key Management Personnel, The Superintendent chairs tha Circuit mestings. The members of the Cirauil meeting are trustees of the Cireuit. The stipends, employers NIC and amployers pension contributions and olher expenses of tha Presbyters uf the Ciroull are paid by the Circuit, Pensions Most ordained presbyters and deacons ara members of Ihe Methodist Ministers’ Persion Schame (MMPS) which is a defined benefit schame, Tha Supreme Court hold'in 2044 that Methodist ministers (which term inclicles preshyters and deacons) are not employees af the Church, For simplicity. howaver, when dacting with National Insurance Contributions and pension cortribulions, the tems ‘employer and ‘employee’ are used as they would be in an employing body. scheme,enrolmentLay employeespension are contractuallyscheme which employeesis a defined anda benefit may be acheme requiredandto bethe autoCircuit enrofied contribute m tha as:an Cyreimts employer NESTte Autothis The Connexion accounts for the MMPS pension suhemes and shows the figures ity the annual Methodist Church in Great Britain accounts. The MMPS is in defiit bul a plan for removal of the deficit has been proposed and is being implemented. Details of the deficits on these schemes can be found in the Annual Report and Ancounts of The Methodist Church at wwwmothodist.org.uk Sabbaticals and holiday pay accruals Each Presbyter # entiled to.a 4 month sabbatical avery 5 years and the expenses incuried by the Presbyter are inet by the Connexion with the Gircuit continuing to pay the stipend. During the yaar there has been no sabbalicals The Gireuill does not accrue for hollday pay cover as the femaining staff cover Ihe holidays as heeded without extra pay.

Wey Valley Methodist Circuit Year to 31st August 2025 Notes to the Accounts (continued)

12. Grants and Donations approved by the Circuit Meeting

District Sheerwater Trinity Total grants for the year

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Wey Valley Methodist Circuit Year to 31st August 2025 Notes to the Accounts (continued)

Tangible Fixed Assets Manses were revalued on 31st July 2025 at fair value by Dan Lowery MRICS for and on behalf of Stirling Ackroyd Surveyors experienced in the area.

||Residential| Other Land|
Manses ||Residential| Other Land|
Manses ||Fixtures,|Total|| |---|---|---|---|---|---| ||Land||fittings||| ||||and||| |||||||| ||||equipme||| ||||nt||| ||£
£
£||£|£|| |Balancebroughtforward
|
tti‘zLCStststiti‘CYYS
4,785,000)
22,028]
4,807,028
Additions
es(ee
ee)
Revaluations(#/-)
735,000]
735,000
Disposals(-)
Transfers(+/-)
Balance carried forward
|
OF —=is«5520,000]
~— 22.028]
—«45,542.028
Accumulated depreciation|||||| ||Basis|_____| |SLorRB
[RB
Rae[
|—-+dYsSSSsS~dSC~t||||| |Balance brought forward
Depreciation chargeforyear (-)
Revaluations
(+/-)
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(+/-)
Balancecarriedforward
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es
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a De
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-
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—(|s«5,520,000||7|-
=~||4,785,000
5,520,000||

The manses are held on trust for use by the Circuit in the names of The Trustees of the Woking Wesley Manses and Trustees for Methodist Church Purposes. In the event of sale the charity only receives a proportion of the proceeds and may apply for grants from the remaining balance.

Wey Valley Methodist Circuit Year to 31st August 2025 Notes to the Accounts (continued)

14. Investments

The funds that support the Circuit Model Trust Fund and the Manses Fund are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month. These are regarded as medium and long term investments.

TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, , Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

Analysis of investment movements

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|||||||||||| |---|---|---|---|---|---|---|---|---|---|---| |2025|2024| |Investments|listed|on|a|recognised|Stock|Exchange|||SY|5,753|5,742| |Investments|held|in common|investment funds,|es|ee| |Securities|not|listed|on|a|recognised|Stock Exchange|||||sis| |Other investments|- cash|||290,081|287,071| |Total|295,834|292,813| |Change|in|investment|values| |Carrying|(market)|value|at|beginning|of year|a|287,584| |Add:|additions|to|investments|at cost|FY|3,010|5641| |Less:|disposals|at carrying|value|and|net cash|withdrawals|en)|0| |Net|gain/(loss) on|revaluation|(412)| |Carrying|(market)|value|at end|of year|||295,834|292,873]|

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Wey Valley Methodist Circuit Year to 31st August 2025 Notes to the Accounts (continued)

15. Analysis of current assets

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2025 2024
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Debtors and prepayments £ £
Outstanding payments for Jay workers
17,141 14,796
Prepayments and accrued income 16,596 15,902
Other debtors a) 44,130
Outstanding assessment payments 22,087 18,210
Total debtors and prepayments | 55,824] 93,038
Analysts of cash at bank
Bank balance held in Barclays 4,899 | 3,655]
Bank balance held in CAF Bank 44,900 31,702
Bank balance held in CFB Bank 103,316 78,782
Total Cash and Bank ___:153,115 114,139
16. Analysis of current liabilities and long term creditors 2025 2024
£ £
Prepaid Assessments 78,941 97,037
Other Creditors 22,607 21,056
Total Current Liabilities 101,548 118,093
17a. Grants approved but not paid due within one year 2025 2024
«
£ £
Sheerwater Church 10,000 10,000
10,000 10,000
17b. Grants approved but not paid due after one year 2025 2024
£ £
Sheerwater Church - £10,000 £10,000 per year for 2 years year for 2 years for 2 years 2 years 20,000
Q 20,000
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Sheerwater Church - £10,000 £10,000 per year for 2 years year for 2 years for 2 years 2 years

18, Capital Commitments and Contingent Liabilities

The Circuit had no commitments to Circuit Churches for property maintenance at the year end other than grants that were agreed by the Circuit Meeting.

There were no Contingent liabilities at the year end.

19. Volunteer contributions

Every entity within the Methodist Church in Great Britain is heavily reliant on volunteers who contribute thelr skills, time and money in furtherance of the work of the Church. Principally this contribution is by serving on committees of the Circuit that deal with mission, manses, finance, grants, training and development.

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Independent Auditor’s Report to the Trustees of the Wey Valley Methodist Circuit This Report is on the Circuit Accounts for the year ended 31st August 2025

Opinion

We have audited the financial statements of the Wey Valley Methodist Circuit (the ‘charity’) for the year ended 31st August 2025, which comprise the Statement of Financial Activity, Balance Sheet and Notes to the Financial Statements, including a summary of 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:

give a true and fair view of the state of the charity's affairs as at 31st August 2025, 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 requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described 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 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. 4

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

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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

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:

the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
»* we have not received all the information and explanations we require for our audit.

Independent Auditor’s Report to the Trustees of the Wey Valley Methodist Circuit (continued)

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, 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 to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financia! 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’s responsibilities for the audit of the financial statements

We have been appointed as auditor undersection 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder

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 material 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.

Extent to which the audit was capable of detecting irregularities, including fraud

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:

— 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 actual or potential claims;

— Review of minutes of Board meetings throughout the period;

— incorporating unpredictability into the nature, timing and/or extent of testing.

— Evaluation of the selection and application of the accounting policies chosen by the charity.

— In relation to the risk of management override of internal controls, by undertaking procedures to review journal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud; and

— We assessed the susceptibility of the charity's financial statements to material misstatement, including how fraud might occur by considering the key risks impacting the financial statements.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our audit report.

;

‘

Independent Auditor's Report to the Trustees of the Wey Valley Methodiet Circuit (continued)

Use of this report

This report is made solely to the charity’s trustees, as a body, | 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.

Do Begbies Chartered Accountants & Statutory Auditors

9 Bonhill Street

London EC2A 4DJ

Dated: \¢{u\r02%4

Begbies is eligible for appointment 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.