Charlty number: 1137450 EXETER COAST AND COUNTRY METHODIST CIRcurr TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 kLGriffin
EXETER COAST AND GOUNTRY METHODIST CIRCUIT CONTENTS Page Reference and adminislrative detai18 of the Charlty, It6 Tru8ts06 and advisers Trust8. report Indgpandgnt audltors. Tgport on the Ilnanclal ststsm8nts Statsment of flnandal aGtlvltle8 2-10 15 Balance Sheet 16 Notgs to tho financlal Statements 17-33
EXETER COAST AND COUNTRY METHODIST CIRcurr REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025 TNstÈ85 Rev. S Santry Rev. W Grewcock Rev. S Leigh, Chair (appointed 11 September 2024) Rev. B Haslam R&v. P Collings H Gould S Jones G HaNey P Violet M Easton M Privett D Moll lappoinled 1 September 20241 Rev. D Leigh lappoinled 11 September 2024) Please note. this is not a compSel& lisl of Trustees during the year. Please see Page 4 for additional information. CharFty registered number 1137450 Princlpal offlce Exeter CC Metfthist Circuit clo Mint Me*lhodist Church Fore Street Exeter Devon EX4 3AT K Gill Socratsry Independent auditors Westcotts (SWI LLP Timb8tly South Street Axminster Devon EX13 SAD Bankers Lloyds Bank p st Thomas Exeter Custodlan Trustee Trustees For Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ Page 1
EXETER COAST AND COUNTRY METHODIST CIRcurr TRUSTEES. REPORT FOR THE YEAR ENDED 31 ALIGUST 2025 Th& Trustees prns8nt their annual r&port tog8lher with the financial statement5 of the Exgler Coast and Country Melhtsjist Circuit for the 1 September 2024 10 31 August 2025. The following pages are designed to give the reader an overview of the purposes of the Charity. of how il conducts itself, of those who were invofved in the Charty and draw attention to what has occurred during the past year. These pages a an introduction lo and should be read in conjunction with the dglailed financial reports contained later on in the document. Objectives and a¢tlvllles a. Alm$ & OrganisatlDn The calling of ECCC is to respond lo God's kjve in Jesus by sharing our lives through Chrl81ian discipleship in WOTshlp and caring. The overriding objectrve of the ECCC is lo act as a resourc6 provider on behalf of the Methodist Church within the area from Credilon. West of Exeter. through Exeter to Axminsler. East Devon and areas along the South coast of East Devon. The principal body r8sponsib18 for the affairs of the Circuit is the Clrcuit Meeting of the Trust8es. The business of the Circuit Meeting is supported by regular meetings of the Circuit Leadership Team and other groups. This team comprises all Ministers stslioned in the CiTCUit and the Circuit Stewards who aro lay representatives from across th8 Circuit. b. Main aGtlvitlgs The Circuit aets as a resourcing body for the churches in the Circuit, and provides th8 link upwards to the Plymclrth and Exeter Methodist District and the Connexioft. The Circuit plans the provision of Minlsters and lay employees lo support Melhodisl churches and work In Its area. It administers the stiP8nds and expenses of Ministers and the salaries and exp8nses of lay work&rs in the Circuit, and where appropriate, provides Manses for Ihelr accomm(KJatlon. It prepares the quarterfy Circuit preaching plan that assigns ministers and local (y) preachers to church services. Actlviti8s include organisation and resourcing of gUlar public 8cls of worship open to 811 inv(Aving'. Pr(Klaiming Christianity. Supporting pastoral work in the community. Sharing the love of God through Jesus Christ. c. Pvblic b8bfft The Irustegs arg aware of their duty, sel out in section 4 of the Charities Act 2006. to have due regard to the public benefit guidance published by the Charity Commission. The Circuit is part of the Methodist Church, which exists to: Increase awareness of God's presence and celebrate God's love Help people grow and leam as Christ18ns, through mutual support and care Be a good neighbovr to people in need and challenge injustice Make more followers of Jesus Christ. The trustees consider that for these ?808 the charity meets the public benefrt quireMent Page 2
EXETER COAST AND COUNTRY METHODIST CIRCUIT TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Objectives and activities {contlnuedl d. Safeguardlng Every person has a value and dignity which come5 directly from the creation of male and female in God's own image and likeness. Christians see this potential as fulfilled by God's re<reation of us in Christ. Among other things this implies a duty to Value am people as bearfng the image of God and therefore lo protect them from harm. Methodist Connexional practice ouuines eommilment lo the following p¥knciFles.' The care and nurture of. and iespecrful pastoral ministry with, all children. young people and adults The safegu8rdlng and protection of all children, young people and adults when they are vulnerable The establishing of safe, caring communitles whlch provide a loving environment where there is infornied vigilance as to the dangers of abuse. We will carefully select and train all those with any responsibility within the Church, in line with Safer Recrullment principles, induding the use of criminal records disclosures and registration wSlh the rdevant vetting and barring schemes. We will reswnd lthOUt delay lo every complaint made which suggests that an adult. child or young person may have been hafflied. cooperating with the police and local authority in any investigation. We wil seek to work wth anyone who has suffered abuse, developing with th8m an apprwiate ministy of infomied pasloral care. We will seek to challenge any abus8 of power, e$pecialy by anyone in a position of Irusl. WÈ will seek to offer pastoral care and support, including supervision and referral to the proper aulhorilies, io any m8mb6r of our church communily known lo have offvnded against a Ghild, U9 person or vulneraLle adult. In 811 these princoples we will follow legislation, guidanc8 and recognised good practice. The Exeter Coast & Country Circult commlts itself lo ensuring the implem8ntatlon of Connexlonal Safegu8rding Pollcy,. govemm8nl leglslation, guidance and safe practlcè in the drcull and in the churGh8s and has In place a Circuit Safeguarding Officer with spefiC responsibility for=. The provision of support, adVe and training for lay and ordained people designed lo ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable. Achievements and perfomiance The Exeter Coast and Country Cir¢uit subscribes to the Melhodisl Conference stalernenl of 2000, the 'Our Calling. commitment. 'Our Caling. tasks the church in areas of worship. evangelism, leafning and caring and $ervi¢e. This continues to be at the forefront of the Circuit's aims and inlenlion. The circui( will encourage individual churches in their mission to accomplish the tenets of the 'Our Calling, strategy. In so doing the Circuit exercises ils ¢orporale sense of oversight provlded by the Superlntendent minister, the Revd Dr Simon H. Leigh, the fflinlsters. circuit stewards and the Circuit Meeting. This fom7 of collegial oversight stems from the earliest days of the Methodist movement in the practi and form ol the Revd John Wesley., Ihg founder of Methodism. This lasl year has once again seen a reduction in presbyteral staff in the circuiL The challenge of re(lucing numbers of available ministers is a real concern as it places increasing pressure on the number of cijrrenl staff and lay members. It musl be recognised howevèr. that pastOTal care, senjice, worship and evangelism coniinues. The example of Bread Church in Axmlnster, Shor8llne a digital expression of church. Forest Church al the Mint evidence fresh expressions of the church's mission and ministy. Page 3
EXETER COAST AND COUNTRY METhODIST CIRCUIT TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Achlov•ments and p•rfomianco (conllnugdl Plans for the future In the coming year the Circuit will seek lo be what th8 Revd Dr. Martyn Atkins, a forrner President of the Melhodist conferan, d8stbed as 'a dlsclpl8shlp movement shaped for mission,. To 8chievo this aim and lo honour the 'our Calling, commilments, tho Circuit wll seek lo resource mission appropriately in areas which show growth and w)lential. To this end Lay Pastors and Lay Missioners will be sought to complement the presbyteral team. The year ahead will see development of the newly formed Mission and ReSoUrS Committee, which win focus on strategy and resourcing lor Ihe work of the Churth in rural. coastal and dty areas of the Exeter. Coast and Country Circuit. Flnanclal revlew a. Going concern After making appropriate gnquiries, the Trustees have 8 Teasonable expeetstion that the Charlty has adeqvate resources lo continue in operational existence for the foreseeable future. For this reason, Ihey continu? to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the golng concern basls can be foun(l in the accounting poliues. b. Resorves pollcy Reserve5 are required to help manage cashfiows and unplanned financial pressures. and to meet future planned expendiiure. The Circuit's Re8eNes Policy for the General Fund 18 lo hold a minimum stjm equivalent lo six months. average expenditure. This should be sufficient to Tneel any unforeseen item of major expenditure on manses and to be able to conUnu8, In the short lemi, funding planne(l activities in th9 gV8nt of any inability to raise the ftTrll Circuit Assessment from churches. Any Designated and Restricted Funds should also have reserves of at least six months. average expenditure. Some Designated Funds may not have regular income lo fund their activities. bul have been established by a transfer from reserves intended lo meet their plans and commitments. In such cases, Designated Fund reserve balances are likely to excee<J yx months. The Cirwil Model Trust Fund receives the predS from asset sales. Sales proceeds arise unevenly and their vclume and timing are unpredictable. Planning how these balances a spent is likety lo lake placg over the medium term, resulting in balances which may exceed six months expenditure in the interim. In recent years, Model Trust Fund reserves have funded Circuit operating deficits and it is anticipated that this will need to continue for the next few years at least. Reserves have been bolstered by rent property sales rather than Increases In givlng, and ihis source Is both unprwJlclabl8 and finbte. The Circuit has ultimate financial responsibility for its member churches and musl retain the means of emergency support rf necessary. Nonetheless, it remains the intention of the trustees lo use financial resources in furtherance of the CircÈJil's Mission as is ewdenced by conbnued support of development projects and those eworing different means of'church.. Page 4
EXETER COAST AND COUNTRY METHODIST CIRCUIT TRUSTEES, REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 202S c. Ravlow of the fln8nces for the yoaf Incom8 for the year into all CirGUit funds totsll8d £444,831 compared with £743,380 for the prgvious year. This induded income from assessments paid by Circuit churches of £347,954 compared with £358,444 in the previous year. Expenditure for th8 year lotslled £551,727 compared with £1.056,929 for the previous year. By far the greater part of Circuit expenditure relates to the stipend and the housing costs of ministerial staff plus the contribution which the Circuit makes to the South Wesl Peninsula Methodist District and Connexional expenditure. On 31 August 2025 the nel assets of tho Circuit were £3.957,456 compared wilh £3,493,816 on 31 August 2024. Funds held by th8 Circuit which arg in excess of our normal working capitsl requirements and for development initiatives, are d8posilÉd with th8 Central Board of Finance for the Methodist Church in London where they ar& held in inlerÈst-bearing dèposit accounts. The Circuit Model Trust Fund is lodged with the Trustees for Methodist Church Purposes, at their headquarters in Manchester. prlmarily In interest-bearing dep¢)8lt accounts. Structhre. governance and management a. Con$tltutlon Exèter Coast and Country Methodlsl Circurt Is a registered chaty no. 1137450.The governlng document for the Circurt is the Deed of Union 119321 and Meth(x1isl Church Act 11976). Detailed govemance arrangements are oullined within the Conslltutional Practica and Discipllne of the Methodist Church by order of the annual conference ICPDI. b. Methods of appolntment or el•ctlon of Trnstees The management of the Charty is the responsibility of the Trustees, who togeth8r comprise the Circurf( Meeting. They are appointed under the provisions of Standing Order 510 115111 of the Conslilulional Practice and Discipline ICPD of the Methodist Church). In general, these are already experienced Trustees of local churches. Paga 5
EXETER COAST AND COUNTRY METHODIST CIRCVIT TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 strucre, goverrnance and management {contlnuedl Trnst•es of the Clrcult Iduring thè whole or any port of the yearl Janet Adams Ann Matthew's Heather Anguine EIEabeth MaTh'ell laqorle Ashle an Janet Bell Fieda Klcltren lalcolm Bkck l¥lelan Mock Rotx'n Mogford David oll Revd Brenda Mosedale Revo Stephen Mosedale Pam Murphy Martin Mvhill Khrislne Norton Bron¥.)n Nott David Nunrh Mary Nunn Pauline Ovey Rodenck Ovev Valerie Peek Gerald Phillips Mike Pillidge 8arbara Joan Popple Janice Pnce leg Pnvett Rev JeavTrette Rh2[SOn Janel Roblnson Andre, Sails Revd Steve Sanlry Rachel Scott Margaret Slmmons Llsa Thomas Joan Thorpe John Tucker 8renda Tucker Tina TuTnef Glen Tuiner John Vanderwolfe Brvan Vincent Paul Vtolel Stephen Wdlacott Bon¢J Sue Bond DavKJ BraOlor(I Helen Brooks arjoiie Burtt Sheila ChaFfflan John cnrislmas liargaret Cole CaliNe Colln Rev¢ Paul Colllngs Rev Leon Dundas Idargaret Eaglesham IAartin Easlon IAanan EdaC0tt Margarel Foga Heather Fry, Chfls Fuller IAartin FurmingeT Neil Gaklor John Gannon Heather Goul Revd Wayne Gre*rock Paul Gflmes stepnen Hadoad ltharion Hal Harvey Haslarn Haslam Hemmingwav Howe Hughes Jarvis Jones Jones Lea Lee Lee Leigh Leigh LN'nn IdacGr Davi(J Revd Ben crbristine Sharon Jean Irene Carole Sue Stephen OavKI Janel Revd SirTh)n Fievd Donna Elizabeth Jenniler or Pag8 6
EXETER COAST AND COUNTRY METHODIST CIRCUIT TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 SlructuTe, govemance and manag•ment Icontlnued) Organlsatlonal structure and declslon-maklng pollclgs The Exeter Coast & Country Circull is part of the Plymouth & Exeter Methodist District (the District) and is also accountsble to th8 Methodist ConfeTence. The following Methodist Churches 8re linked to and are an integral part of the Circuit. albeit having thèir own Church Council of Managing Trustees and pf(NJucing their own accounts. Axminsler Crediton11178365) Dalwood Exminslei Exmouth FaThvay Honilon Seaton Sidmouth Sidford Sidwell Street, Exeter SiSverton Sl Thomas, Exeler11135010} Tedburn St Mary Temple, Budleigh Salterton The Mint, Exeter {1128388} Topsharn Wonlord. Exeter Those with gross annual incorng of less than £100.000 are exempted fiom registration as separate charities under Stalulory Instrument 2014 No 242.Crediton, The Mint and St Thomas. Exeter have declared gross annual income of over £100,000 and are separately reglslered with the Charity Commission, with their registered numbers shown in brackets above. 'Shoreline' is an online expression of church. which has grown up within the clrcuit. Technically it is not a church thin Meth(Thlist definitions, bul il operat8s and rerKJrts to the Circuit as far as possible like the buildings4)ased Methodi81 churches. These Ghurches all conlTibule financialty lo Ihe Clrcuil via an annual "Guided Offel, system towards ils operatIg costs. d. Clrcuit Management Day io day management of the Circuit Is undertaken by the Circuit Leadership Team, which Ss the working hub of the Circuit. The Circuit Meeting and the c11t Leadership Team have delegated certain responsibilities to sub groups each having terms of reference. These sub groups indude Committ8es for Employmgnt. Finan¢g, Property, Mission & Minislry. Stewards and Invitation and Manse Maintenance. e. Rlsk managemenl The Circuit recognises that tsking risks is vital when seeking to fulfjl the calling of the Methodist Churth lo respond to the gospel of God's love in Christ and lo live out ils discipleship in worship and mission. Bul in doing this, the circuil also seeks to be a good steward of ils people, money and physical resources.. to care for its employees, volunteers and those it work touches,. and lo comply with relevant legislation and guid8nc8. In these matters the circurt has less tolerance of risk. All those involved in the activities of the circuit are involved in managing risk. The CircJJit Risk Register summarises major risks and how they are managed or mitigated. These aro reviewed perthically by Fin8nce Committee and others as appropriate. Pag8 7
EXETER COAST AND COUNTRY METHODIST CIRCUIT TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDÉD 31 AUGUST 2025 ststgment of Trusteos. responslblllt19S The Trustees are responsible for preparing the Trustees, report and the financial stalemgnts in aecordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Aecounling Practicel- The law applicable lo charfles In England & Wales requires the Twstees to preparg financial statements for each financial year whith give a true antj fair view of the stsle of affairs of the Charity and of its incoming resources and application of resources, induding its income and expenditure, for that period. In preparing these rinanLI81 slalemenls. the Truslees are required lo.. seieGt suitable accounting policies and then apply them consistentty- observe the methods and PrinpIeS of the Charities SORP IFRS 102}', make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed. subject to any material departures disdosed and explained in the financial statements., prepara the financial stalemenls on Ihe going concern b8sis unless il is inappropriate to presume that the Charity Mll continue in business. The Trustses are responslble lor keeping adequate accounting records that are sufficient to show and explain the Chariws transactions and disdose with reasonable accuracy at any time the financial posrtion of the Charity and enable them to ensure that the financial statements comply wllh the Charides Acl 2011, the Charity IAGcountS and Reports) Regulations 2008 and the provi51on5 of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for takn'ng reasonable steps for the prevention and detection of fraud and other irfegularibes. The governing document for the Circuit 15 the Deed of Union119321 and Melhodisl Church Acl119761. Detailed govemance arrangements are outlined within the Constitutional Praclice and Discipline of the M8lhodisl Church by order of the annual conference {CPD}. Trustees are appolnl&d under provislons of Standing Order 510 {1511) of th8 Constilulional PTactice and Discipline ICPD of the Methodist Church)- In general. thes8 are alreaty experienced Trustees of local churches. Support i8 available from se¢tion81 Circuit Stewards if reqLJired. A range of guidance produced by Methodist Connexion to support the effective running of the Circuit . specifically the leaflet 'The Role of a Trustee in The M8lhodisl Church, should be read and understood by all new Circult Meeting memb8rs as Induction lo their role as TTUSte8s of thg Chgrty. Trustegs are particularly responsible for the general control and manag8m8nt of administration of the chartty, ensure Gompliance with charity law and regulations, preparelapprove the Trustees Annual Report, act with integllty and take special care when investing tharily funds or bomwing. Page 8
EXEfER COAST AND COUNTRY METhOD18T CIRcurr TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Dlsclo•urg of Informatton to audltor6 Each of th6 porsons who are Trustses at the lime when this Trustees. report is approved has confirmed thaL so far as that Tntslee is aware, there is no relevant audit infomalion of which the charws auditors are unaware, and Ihat Trustee has taken all the steps that ought lo have been taken a5 a Trustee in order to be aware of any relevant ?udlt Infomiation and to establish that the chariws auditors are awarg of that inforynation. Page 9
EXETER COAST AND COUNTRY METHODIST CIRcurr TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Dlselosuro of Infomialion to auditors IcontSnued} Audltors The audltors, Westcotts ISW) LLP, have indlcated their willlngness to conllnue in office. The designated Trustees wrfl prgpose a rnooon reappointing the auditors at a meeting of the Trustees. Approved order of members of the Circuit zo l os I z45 and slgned their behalf by: meeting on S Leigh (Trustèe) Pagg 10
EXETER COAST AND COUNTRY METHODIST CIRcurr INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF EXETER COAST AND COUNTRY METHODIST CIRCUIT Oplnlon Vve have audited the financial slatsmants of Exeter Coast and Country Methodist Circuit (the 'eh8riV) for the year ended 31 August 2025 which comprise the Statement of financial activities, the Balance sheet. the Statement of cash Ilows and the related notes, induding a summary of significant accountlng policies. The flnanual reportlng framework that has been applied in their preparation Is appllcabb law aThfj United Klngdom Accounting Standards. induding Financial Reporting Standard 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). The financi81 statements have been prepared in aceL)rdance with Acc(yJnting and Reporting by Challlies preparing their accounts In accor(J8nce wlth the Financial Reporting Standards 8ppIic8ble in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Repw)rts"ng by Charities-. Statement of Recomm8nded Practs"¢e issued on l April 2005 which is referred to in the extant regulations but has been withdrawn. This has been done in order for the accounts lo provide a true and fair view in accordance wlh the Generamy Accepted Accounb'ng Pradice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial stslemenls: give a true and fair view of the stale of the charitys affairs as at 31 Augusl 2025 and of its incoming resources and applicalion of resources for the year then erbded., have been property prepared in accordance wlh United Kingdom Generally Acc8ple(l Accountir Pract¢ce,' and have been prepaTed in accordance wth the requirements of the Charities Act 2011. Ba$ls for oplnlon We conducted our audit in accordance with Intemation81 Standards on Audrting (UK} (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described the Auditors, responslbillties for the audit of the financial statement5 section of our ioporL We are independent of the tharity In occordan¢e with the ethical rgquirements that are relevant to our audit ol th9 financial statements in the United Kingdom. incjuding the Financial Reporting Council's Ethical Standard, and we have fulfilled our other elhical responsibilities In accordance with these requirements. We believe that the audit avidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons rnlating to going concern In auditing the financial statements. we have conduded that the Trustees. use of the going concem basis of accnunling in the preparation of the financial slatemenls is appropriate. Based on the work we have performed, we have not identlfied any material uncertainties relakn'n9 to events or conditions that, individually or cdlgctively, may cast significant doubl on the charity's ability lo continue as a going concem for a p9riod of at least twelve months from when the financial 8talemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relwanl sections of this pOrt. Page 11
EXETER COAST AND COUNTRY METHODIST CIRCUIT INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF EXETER COAST AND COUNTRY METHODIST CIRCUIT ICONTINUEDI Oth•r informatlon The other infom)ation comprises the information irlUded in the Annual report other than the financial statements and our Auditors, report thereon. The Trustees are respDnsible for the other information contained within the Annual pOrt. Our opinion on the financial slalemenls doe5 not cover the other InfolmaOn and, except to the extent otherwise explicitly stated in our report, we do not express arly form of assurance conclusion thereon. OUT responsibility is lo read Ihe oth8r infomialion and, in doing so, consider whethor the other infr)rmation is materially inconsislenl with the flnanci81 statements or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detem)ine whether this gives rise lo a material misstalemenl in the financial statem8nts themselves. If, based on the work we have performed, we conclude that there is a material misststement of this other infom)ation, we are required to report that fact. We have nothing to report in this regard. Matters on whlch are requlred to rgport by exPtIOn W8 have nothing to report in respect of the folowing matters where the Charlties {Accounts and Reportsl Regulations 2008 requires us lo report lo you if, in our opinion.. the infomiallon gSven In the Trustees, report Is incon5istsnt in any fnaterial respect with Ihe flnancial statements,. or sufficient accounting CordS have not been kept., or Ihe financial stslements are not in agreement with the accounting records and relums. or we have not received 811 Ihe information and explanations we require for our audit. Responsibilities of trustees explained more fully in the Trustees, resF)onslbllltles $tstement. the Trust888 are responsible for the preparation of the finanual ststements wh5ch glve a true and fair vlew, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial slat&ments th81 are free from material mlsstslement, whether due to fraud or error. In preparing the financi81 statements, the Tru$te8s arg resFX)nsible for assessing the charity's abilty to continue as a going concern, disdosing, as applicable, matters Telaled to going concern and usin9 the going concein basis of accounting unless tho Trustees ailher intend to liquidate the charity or to cease operations, or have no realistic allemalive but to do so. Page 12
EXEfER COAST AND COUNTRY METHODIST CIRCUtr INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF EXETER COAST AND COUNTRY METHODIST CIRCUIT (CONTINUED} Audltors. responslbllltles for thg audlt of tho financlal statsmgntS We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance wilh th8 Act and relevant regulations made or having effecl thereunder. Our objectives are lo obtain reasonable assuran1 about wheiher the financial statements as a whole are free from material misstatement, whether due lo fraud or error. and to issue an Auditors, report that indudes our opinion. Reasonable assurance is a high level of assLsrance, bul is not 8 guarantee that an audit conducted in acCdance wth ISAS (UK) will always detect a material misstatement when it exists. Misslalements can arise from fraud or error and a considered malerral if, individually or in the aggregate, they could reasonably be expected to infiuence the economic decisions of users taken on the basis of these financial statements. ITregulaTitses. including fraud. are instancès ot non-compliance Wlth laws and regulations. We design procedures in Iwie with our responsibilities, outlined above. to detect material ffli5Stalements in respect of irregularities. including fraud. The extent lo which our procedures are Capable of detecting irregularities. induding fraud is detailed below.. We idenh'fi'ed areas of laws and wulations that could reasonably ba expected lo have a matsrial effect on the financial stat8ments from our general wmmercial and sector experien and through discussion wtth the trustees and other management. We communirated identified laws and regulations throughout our teaffi. and remained alert to any InditionS of nonpc0mpl1an throughout the audtt. The ch8rty Is subject to laws and regulatr"on5 that govern the preparation of the financial statewnents, including finanrial reporb'ng legislab"on, and other charrties legislation. The charity is also subject lo other laws and regulations where the cOnsequenS ol non-compliance could have a material impact on the amounts or disclosures within the financial statements, induding anbribery. anti-money laundering and certain aspects of charities legislation. Owing to the inherent lirnttation5 of an audit. thgT8 Is an unavoidable risk that we may not have datecled som8 material misstatements in the financial statemerbts. even though we have properly planngd and perfomied our audit in accordance with audtting standards. In any audit, there ren7ains a higher fisk of noTrdete¢tion of irregularities. as these may involve collusion. forgery, intentional omtssions. misrepresentations. or the override of intemal controls. We are not responsible for preventing noncompliance and cannot be expected to detect non- Compl18n with all laws and regulations. Our audil procedures h3ve been revlewed for evidence of management override. any ongoing legal cases. CDmpleleness of related party transactions, as well as ongolng consideratron of fraud and irregularities during the whole audil process. 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.or -uklaudilorsres onsibilities. This descriptioll fornis part of our Auditors, report. Page 13
EXEfER COAST AND COUNTRY METHODIST CIRcurr INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF EXETER COAST AND COUNTRY METHODIST CIRCUIT £CONTINUED} Us• of our r•p¢rt This Teport is made solely to the charitls trustees, as a body, in accordan with Part 4 of the Charflies (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so thal we might state to the charitys trustees those matters we are required to state Its them In an Auditors, report 2nd for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work. for this report, or for the opiniofis we have fomied. LLP Robyn Glfftird-Engand ACA For and on behalf of Weslcotts ISW) LLP Registered AuditOTS rimberty South Street Axminster Devon EX13 SAD Oate". Iq Z02 6 Westcotts (SWI LLP are eligible to act as auditors in tems of geclion 1212 of Ihe Companies Act 2006. P8ge 14
EXETER COAST AND COUNTRY METHODIST CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 Unrestrictod funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Incom8 from: Donations and legaaes Charttable activities 1.796 390,843 1,796 395.093 280.932 394,344 9,958 58.146 4,250 other Irading activities Investmenis 45,098 45.098 Total IncomB 440,581 4,250 444,831 743.380 Expenditure on.. Loss on sale of propety chatable activltles 15,722 1.041.207 549.6114 2.123 551.727 Total expèndlture 549,604 2,123 551,727 1.056,929 Net {expendltureylncome beloTe net gains on Invastments Nel gains on inv8stments property (109,0231 570.536 2,127 1106,896) 570.536 {313,549J Net movement In fund8 461.513 2.127 463.640 (313.549) Reconciliation of funds.. Total fvnds brought foNard Net fflovement in funds 3,487,855 461,513 5.961 2.127 3.493,816 463,640 3,807.365 (313.549) Total fund$ ¢arrled forward 3.949.368 8,088 3,957,456 3,493,816 The Ststemenl of fin8ndal actwilies includes all gains and losses COgnised in the year. The nolas on pages 17 to 33 fom part of these financial ststemenls. Page 15
EXETER COAST AND COuPRy METHODIST CIRcurr BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Note Fixad ass6ts rang1te assets Investment property 14 15 1.730,962 1,200,000 1,580,426 780,000 2,930,962 2.360,426 Current assets Debtors Cash al bank and in hand 47,035 1.025,055 58,055 1,152,022 1.072.090 1,210,077 Current liabilitlps Creditors.. amounts falling due within one year 17 {45.5961 (69.687) Net current assets 1,026,494 1,140,390 Total assets less curTent Ilabllltles 3,957,456 3.500,816 Creditors.. amounts falling due after more than one year 18 (7,000) Net assets excludlng penslon asset 3.957,456 3,493,816 Total nel assets 3,957,456 3,493,816 harrty funds Restrlcle¢J funds Unrestricted funds 19 8.088 3.949,368 5,961 3.487.855 19 Total lunds 3.957,456 3,493.816 The financial statements W8re apptrjved and aulhorlsed for Issue by the Trustees 2oltssli6 and signed on their b&half by: on S Leigh {Chair of Twsleesl The notès on pages 17 10 33 fomi part of these financial statements. Page 16
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 G¢n¢ral Infomiatlon Exeter Coast and Country M&thadist Circuit is an unincorporated charity, r8gislered in England and Wales, registration no. 1137450. The principal office is The Mint Methodist Church, Fore Stre&t, Exeter. D8von, EX4 3AT. Ac¢¢unllng pollcles 2.1 Basls of preparation of financial statements The financial slalemenls have been piepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practs'c8 applicable lo tharities preparing their accoLJnts in accordan with the Financial Reporbng Slantlard applicable in the UK an(1 Republic of Ireland IFRS 1021 (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 and the Char(tie5 Act 2011. The financiai statements hav8 been wepared to give a Irue and faiv view and have departgd from the Ch?ritigs (Acwunts and Reportsl Rggulalions 2008 onty lo tho gxlenl requirod lo provide a 'lru8 and fair, view. This departure has involved following the ChaTilies SORP IFRS 1021 published in October 2019 rather than the Accounb'ng and Reporting by Charities.. Statement of Recommended PMctI effective from 1 April 2CM)5 which has since b88n wilhdrawn. Exeter Coast and Country Methodist Circuit meets the definition of a public benefil entity under FRS 102. Assets and liabilities are initially recognis8d al historical cx)sl or transaction value unless otherwise stated in the relevant accounting pojicy. 2.2 Golng concern The Truste&s 8ssess whether the use of going concem is appropriate ie whether any mal2rfal uncertainlles related to events or conditions that may cast significant doubl on the ability of the ch8ri1y to continue as a oolng concem. The Trustees make this 8SS8ssm&nl in respect of a period of at least 12 months from the date of aulhorisation for issue of the financial statBments and have concluded that the charity has adequate resources to conlinue in operational existence fof the foreseeable future and there are no material uncertainties about the chariws ability to ntinUe as a going concem. thus they will continue to adopt the going conGern basis of accounting in pparillg fhe finanryal ststemenls. 2.3 Incom8 AJI income is recognised once the Charity has enlltlement lo the Inujme, it is piobable that the income wll be received and the amounl of income receivable can be measured reliably. Grants are ineluded in the Slalement of flnancial activities on a receivable basis. The balance of income received for specific purposes but not expended during Ehe period is shown In thè relevant fvjnds on the Balance sheet. Where income Is received In advance of entilement of receipt, Its recognltion Is deferred and included sn credltors as defeTred income. Where entitlèment occurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is Tecognised at the time th8 investmenl income is receivable. Other incorne is recognised in the period in which il is receivable and to the extent the goods have b88n provided or on completson of the service. Page 17
EXETER COAST AND COUNTRY mHoDIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting polici85 Iconlinuedl 2A Expendlturè Expenditure is recognised once there is a legal or Constructive obligation to transfer economic benefit lo a third paty, it is probable that a transfer of economic beneffts wlll be required In settlèment and the amount of the obligation can be measured reliably. Expenditure is da5sified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, inctuding support costs involved in undertaking each activity. Direct Costs allribulable lo a single activity are allocated directly to Ihat activily. Shared sts which contribute to more than one activity and 5UPPOrt costs which are not attributable to a single activity are apportioned betwe8n those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges albcated on the tKJrtion of the asset's use. Expenditure on raising funds indudes all expenditure incurred by the Charity lo raise funds for its charstable purposes and includès sts of all fundraising activities events and mn-charitsble trading. Expendllure on charftable acllvilies Is Sncuffed on dlre¢lly undertaklng the acllvittes which further the Charitys objedives, as well as any associated support Costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the condilions attaching are fulfilled. Grants offered subject lo condititins which have not been met at the year end are noted as commitrnenl, but not accrued as expenditure. All expenditure is inclusive of irrecovèrable VAT. 2.5 Interesl re¢eivable Interest on funds held on dekx)sil is included when receivable and the amount can be measured reliably by the Charity.. this is normally upon notification of Ihe interesl paid or payable by the institution with whom th8 funds are deposited. 2.6 Tangible fixgd assets and depreclatlon Tangible fixed assets costing £1000 or more are capitslised and recognlseé when fijture economic benefits are probable and the cost or value of the asset can be rrEasured reliably. Investment Properties are Initial recognised at cost. After recognition, under the revaluakn.on model. tsngible fixed assets whose fair value ean be measured rellaY shall be carried at a revalued amount. being their fair valu8 at th8 date of revaluation 1888 any subsequent accumulated depr8clatlon and subs8quent accumulated impaimienl losses. Revaluations are made with sufficient regularity lo ensure that the carrying amount (Joes not diff8r materiallyfrom that which would be detemiined using fair value al the end of the repc¥ling dale. Fair values are determined from markel4Jased evidence by appraisal that is nomially undertaken by professionally qualified valuers. If there is no market-based evidence of fair value because of the specialised nature of the tangible fixed asset and il Is ralY sold. except as part of a contributing business, a Charity may need lo estimate fair value using an income or depreciated replacement cost approach. Gains and losses on revaluation are recognised in tha Statement of financlal activllie5, Wtth a separate revaluation reserve being shown in the Statement of fuTS note. Page 18
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting policles (¢ontlnuod) 2.6 Tanglblè flxed a$sets and depreclatlon l¢ontlnuedl Freehold propeity is shown in the xcounts at deemed values when the property was purchased. No depreciation is provlded on the bulding because the tnjstees consider the current residual fair value of the manse buildings {on the assumption that it had reached the end of ils useful economic life by the year-endl to be not less than its current value. Any depreciatlon wouhd not be material. The property has been reviewed for impairment. 2.7 Debtors Trade and other debtors are rtrcognised 8t th8 selllement amount after any trade dlscount offered. Pr8payrn&nls are valuèd at the amunt prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand includes cash end short-tgrm highly liquid investments with a short maturfty of thr88 months or18ss from th8 dat8 of acquisition or opening of the deposit or similar account. 2.9 Llabillties and provisions Liabilstres are recognised when there is an otigatiOn at the Balance sheet date as a result of a past event. il is probabl8 that a transfer of economio bengfil will be required in settlement, and the amount ol the settlement can be estim8ted r8llably. Liabilities are recognised al the amount that the Charity anticipates it will pay to settle the debt or the amount rt has received as advanced payments for the goods or servicès it must provide. Provisions are measured al the best estlmate of the amounts requlred to settle the obligation. Where the eff8cI of the time value of money is material, the provision is based on the present value of those amounts. discounted at the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities a5 8 finance cost. 2.10 Finan¢lal Instruments Ttte Charity only has 1Snancial assets and finandal liablllllos of a kind that qualify as basic finanaal instruments. Basic financial instruments are initially recognised at transaction value and subsequently n)easured at their selllemènl value wth th8 excepbon of bank loans wh¢ch are subsequently measured at amortised cost using the effective interest method. 2.11 Penslons The Charity operates a defined contribution pension scheme and the pension charge r8pres9nts the 8mounls payable by the Charity to the fijnd in respect of the year. Page 19
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accountlng pollclos Icontlnuedl 2.12 Fund accounting Gene181 funds are unrestricted funds which are avallable for use at the discr91ion of the Trustee8 in furtherance of Ihe general objectives of the Charty and which have not b6en designated for othar purposes. Designated fvnds comprise UnStCted funds that have been set aside by the Trustees for particular purposes. The aim and use of èach designated fund is set out in the notes to the financial ststements. Restricted funds are funds whSch are lo be usgd in accordance with specffi¢ restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such fLJnds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, 9alns and Iossas are allocatèd lo the approprlate fund. Critical accounting estimates and areas of judgment The preparation of the financial slalemenls requires managemenl to make judgements, estimates and assumptions that affect the amounts reported. These esllmal&s and judgements are cnntinually rewewed and are based on experience and other factors, induding expectatlons of future events that are believed to be reasonabl8 under the circumstsnces. Pagg 20
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 In¢omg from donations and legacies Unrestricted funds 2025 Total funds 2025 Donats'ons 1,796 1,796 UnStricted funds 2024 Total funds 2024 Donations DonatIs- property transferred 75,932 265,000 16,932 265.000 280,932 280,932 'Donalions propety transferred, relates to the Tequirement for the circuit to tske managing trustee responsibility for any Church which cgases to worship and closes. The e51imaled value is recorded in income as a donation. Income from charitable activitiès Unrestrl¢tod Rfrstrlctsd funds funds 2025 2025 Total lund$ 2025 Grants Assessments or guided offers 42,889 347,954 4,250 47.139 347.954 390,843 4,250 395,093 Unr&strlctèd funds 2024 Restricted funds 2024 Total funds 2024 Grants Assessments or guided offars 25,400 358.444 10,500 35,900 358,444 383,844 10,500 394.344 Page 21
EXEfER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Inwmg from other tradlng aGtlvitles Income from lundraising events Unresttlcled funds 2025 Total funds 2025 Feed in tariff Other income 1.406 1.438 1,406 1,438 UnTrstricted funds 2024 Total funds 2024 Lettings Feed in tarlff 8,020 1.486 452 8.020 1.486 452 other income 9,958 9,958 Investmenl income Unrestrtcted funds 2025 Totsl lunds 2025 Investment inwme 45,098 45,098 Unrestricted fvnds 2024 Total funLI8 2024 Investment income 58,746 58, 146 Page 22
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Analysis of grants Granls to Institutions 2025 Total funds 2025 MTF Grants Start-up grants 51,696 5,062 51,696 5,062 56,758 56.758 Grants to Institutions 2024 Total fvnds 2024 MTF Grants Singbe event grants Start-up grants Sidfflouth grants 273.923 8.250 8,685 12,721 273,923 8.25(1 8,685 12.721 303,579 303,579 Anatysls of expendlture on charltable actlvlttes Summary by fund type Unrestricted Restricted funds funds 2025 2025 Total 2025 Charitable activities 514,343 32,375 2,886 {53) 514,290 32,375 5.062 Propety Lettings stsrt-up grants 2,176 549,604 2.123 551,727 Page 23
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Anatysis of expendlture on charitable actlvltles Icontlnuod) Summary by fund type (Gontlnued) UnStricted funds 2024 Restricted funds 2D24 Total 24 Charbtable activities Property Lellings Start4Jp grants Sidmouth grants 1.009.219 10,582 646 7.009,219 10,582 8,685 12, 721 8,039 10.OQO 2, 721 1,023, 168 t8,039 1,041.207 10. Analysis of expenditure by actlvttles Activities undertaken directly 2025 Grant funding of activities 2025 Support costs 2025 Total funds 2025 Charhablg 8cUvtbes Property Lettings Start-up grants 285.916 51.6 176,678 32,375 514,290 32,375 5,062 5.062 285,916 56,758 209,053 $51,727 Activi118S undertaken directly 2024 Granl funding of Support Gosts 2024 Total funds 2024 2024 Chantable aclivitifjs Property Lettings Start-up giants Sidmouth grants 383,023 273,923 8.250 8,685 12,721 352,273 2.332 1,009.219 10,582 8.685 12.721 383,023 303,579 354,605 1,041,207 Page 24
EXETER COAST AND COUNTRY METHODIST CIRcurr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 10. Anatysls of axpenditure by acllvltles (continued) Anatysls of dlrect Gosts Total funds 2025 Total fvnds 2024 Staff costs Ministers. Stipe1$ Contrfbulions to Central District Advance Fund 48,901 213.590 23,425 39,674 258,503 84.846 285,916 383.023 Analysls of support costs Total funds 2025 Total funds 2024 Printing. postage and slatlonery Repairs and maintenance Telephone. travel and Offi expenses Legal Fees Training Quinqugnial Inspgctions District A5ses5menl Insurance ulililies gt PrDfe5sional Fees TMCP levy costs Governan costs 2.274 50.082 34.639 1.573 2Q,943 24,244 6,351 740 12.993 87.533 7,673 7,517 72, 100 104.796 18,681 9,925 147,452 7.800 5.756 209,0S3 354,605 Page 25
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Audltors. rèmunèradon 2025 2024 Fees payable to the Charivs auditor for the audit of the ChariW8 annual 5.504 5.040 12. Staff costs 2025 2024 W8g8s and salaries Social Security costs Contribution to deffined contributlon pension schemes 46,133 2,768 37.111 2,502 61 48,901 39,674 The average number of persons employed by the Charity during the year was as follows: 2025 Nts. 2024 No. Avg Employees No employee received remuneration amounting lo more than £60,000 in 9ither year. 13. TNstees' remuneration and expenses During the year, Tru8t6es had been pald remuneration in the form of mlnister stipends. The value of Trustees, remuneration and other benefits was as follow8- 2025 2024 Rev. P Collings mMk Rémuner8tion Remuneration 8,580 11,748 During the year ended 31 August 2025, expwses lolalllng r20.479 were reimbursed or paid directly lo 13 Trustees (2024 - £19,338 to 10 Truslees). Page 26
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14. Tanglble flxed a55ets Freehold property Cost or valuatlon At 1 September 2024 Transfèrs beeen classes 1.580,426 150,536 Al 31 August 2025 1.730,962 Net book valua Al 31 August 2025 1.730.962 Al 31 August 2024 1.580,426 15. Investment propgrty Freehold Investment proty Valuatlon Al 1 September 2024 Surplus on revaluation Transfers beeen classes 780,000 570.536 1150.5361 At 31 August 2025 1.200,000 The 2025 valuations wgre madg by the Charity Trustees, on an open market v?lue for gxisting use basis. 11 the Investment propetties had been aecounted for under the historic cost accounting rules, the propertlas would be Snduded al a carrwng value 01 £629,464. Page 27
EXETER COAST ANO COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16. Debtors 2025 2024 Due after more than one year Other debtors 17.000 17,000 17.000 77,QOO Du8 within ono year Other debtors PrepayTnents and accrued income 14.250 26,805 30.035 47,035 58,055 17. Credltors: Amounts falling due within one year 2025 2024 Trade creditOTS Other laxalion and social security Other creditors Accruals and detsrred income 3,153 414 573 8.088 33,941 7.000 62.114 45,596 69,687 18. Creditors: Amoun1$ falling due after more than one year 2025 2024 Other creditors 7,000 Thi5 represents grants payable al th8 year end. Page 28
EXETER COAST AND COUNTRY METHODIST CIRcurr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Statement of funds Statemènt of lunds- current ygar Balanco at 1 September 2024 Balance at Galnsl 31 August ILos8•s) 2025 Income Expondlturo Unrestrictsd funds Designated tunds Manse Upgrade Fund Presbyters Lay Support Fund 130,018 252.602 5.158 11.460 131.665) 130,408) 103,511 233.654 382,620 16,618 162.0731 337,165 General funds General Funds Clrcuil Model Tnjsl Fund 2,489,320 464.158 151.757 403,413 20.550 1416,383) (71.1481 2A76,350 413,560 722,293 Revalualion reserve 570,536 3,105,235 423,963 1487,531> 570.536 3.612,203 Total Unfestri¢ted funds 3,487,855 440.581 1549,6041 570.536 3,949,368 Restrlctsd funds University Chaplaincy 5,961 4,250 {2,123 8,088 Total of funds 3.493,816 444,831 1551,7271 570.536 3,957,456 Page 29
EXETER COAST AND COUNTRY METHODIST CIRCUIT PIOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 19. Statsm8nt of funds Icortlnued) DESIGNATED FUNDS Mansè Upgradè Fund - The Manse Upgrade FLJnd has been created to reserve fund8 towards the cost of upgrades and major maintenance of the circuit manses. Presbytsrs. Lay Support Fund - The Pre5bytets' lay support Fund has been created lo hdd the funds sufficient to pay for five lay support workers and associated costs for up lo fivo years. It may also hold other one-off developfflent project resou5. UNRESTRICTED FUNDS Gonoral Funds- this consists of the asssessmenls or shares received by the charity and any donations for general use. the majority of expenditure comes out of general funds. apart from large manse maintenance costs. Circuit Model Trusl Funds - reflects the movement in the trust bank account. The fijnds are used for large income or deposlts, and large expenditure, induding property transactions. Revaluatlon Reserve - rellecls the change In value of investment properties. and freehold properties that were brought onto the balance sheet al no cost lo the charity. RESTRICTED FUNDS Unlvorsity Chaplaincy- Income lo be spent on supporting university community. Page 30
EXETER COAST AND COUNTRY METHODIST CIRcurr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Statement ol funds (contlnugd) ststement of funds - prior yoar Balance al I September 2023 Balan at 31 August 2024 Transfers In/out Incom9 Expendrfure Unrestricted funds Designatod funds anse Maintenance Funds anse Upgrade Fund Presbyt8ts Lay Support Fund 8,504 f8,504J 130,018 252,602 130,018 252.602 8,504 (8,504) 382.620 382,620 Goneral fund¥ General Funds Circuil Model Tnjsl Fund Revaluation r8serve 2,532,459 848,115 404,787 690, 109 42.771 (603,658) (426,728J (129,590) 2,489,32Q 464. 158 151,757 (253,030) 3, 785,361 732,880 (1,030,386) (382.620) 3, 105,235 Total Unrestricted fvnds 3.793.865 732.880 (1.038,890) 3,487,855 Restricted funds Sidford Church Donation University Chaplaincy 10,000 3,500 (10,OOOJ (8,039J 10.500 5,961 13.500 10,500 (18,039) 5,961 Total of funds 3,807,365 743.380 (1,056,929J 3,493.8t6 Page 31
EXETER COAST AND COUNTRY METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. Summary of fund5 Summary of funds- Current year Balan¢e at 1 September 2024 Balance at Gainsl 31 August (Losses) 2025 Income Expendlture Designated funds General funds Rèstricted funds 382.620 3,105.235 5.961 16,618 423.963 4,250 {62.0731 (487.5311 12,1231 337.165 3.612,203 8,088 570.536 3.493,816 444.831 {551,7271 570,536 3,957.456 Summary oflunds-prlor year Balance at f September 2023 8alance at 31 August 2024 Transfers in/out Income Expendilurg Designated funds General funds Restricted fvnd5 8,504 3, T85.361 13,500 (8.5Q4) 732.880 (1.030,386) 10,500 f18,039J 382.620 382.620 (382,620) 3, 105,235 5.961 3,807,365 143.380 (1,056,929) 3.493.816 21. Anatysls of net assets botwegn funds Analysis of nel assets betwgen funds - current year Unre$trlctsd R•stri¢led funds funds 2025 2025 Total funds 2025 Tangible fixed assets Investment property Debtors due after more than one year Current assets Creditors due within one year 1,730,962 1.200,000 17,000 1,047,002 145.5%) 1.730,962 1.200,000 17.000 1,055,090 {45.5961 Total 3.949,368 8,088 3.957,456 Page 32
EXETER COAST AND COUNTRY METHODIST CIRCU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 21. Analy$ls of net assets between funds Icontinv•dl Analysis of net assets between funds - prfor yoar Unrestricted funds 2924 Restricted funds 2024 Total funds 2024 Tangible fixed assets Investment property Debtors due after more than one year Current assets cditorS due within on8 year Creditors due in more than one year 1,580,426 T80.000 11.039 1.193.077 (69,687) (T.000) 1,580.426 780,000 17,000 7, 193,077 (69,687J (7,OOOJ 5,961 Total 3,487,855 5.961 3,493,816 22. Contin98nt liabilitio5 The investment properties reeognised on thè balance sheet are owned by Trustees for MethcKlsil Church Purposes UMCPI. The investment properties are recognised on the Exeter Coast and Counrty Methodist Circuit IECCI balance sheet in line with section5 6.6 and 6.20 of FRS102. Upon sale of these investmenl properiles ECC is requid to pay a proportion of the prwaeds lo TMCP. If the investment properti88 heid were all sold al thier current market value £384.000 would be payable to TMCP. 23. Penslon ¢ommitment$ he group op8rales a d8fined conffibution penslon scheme. The assets of the scheme are held separately from those of the group in an inéependently administered fund. The p8nsion cost charge represents contributlons payable by the group to the fund and amounted to £Nil {2024 - £61)- £Nil12024 - £Nill were paydbbe lo the fund at the balan sheet dats and are included in creditors. 24. Relat party tran8actlon$ Th8 Exeter Coast and County Methodist Circuit has not entered into any related party transaction during the year, nor are there any outstanding balances owing between relaled parties and the Exeter Coast and Counlry Methodist Circuit al 31 August 2025, {31 August 2024." £Nil). Page 33