Charity Number: 1137672 Bradford North Methodist Circuit Trustees, Annual Report and Financial Statements for the Year Ended 31 August 2024
Bradford North Methodist Circuit Contents Page Charity Information Report of the Trustee5.................................................................................................... Independent Examiner's Report....................................................................................... Statement of Financial Activities...................................................................................... Balance Sheet.... Notes to the Financial Statements io
Bradford North Methodist Circuit Charity Information Administrative Information The Circuit was registered as a charity with the Charity Commission in England and Wales on 31 August 2010. Circuit Number: Charity Registration Number= 27132 1137672 The Circuit comprised the following 12 churches at 31 August 2024: Allerton, Baildon, Bolton, Calverley, Christchurch LEP, Crag Road, Northcliffe LEP, Saltaire, St Andrews {Undercliffe), Thackley, Thornton, Wilsden LEP. The Bradford North Circuit took control of the Crag Road premises from April 2023 with the view to run as a Community Hub. Superintendent Minister: Rev. Philip Drake Circuit Office Baildon Methodist Church Newton Way, Baildon West Yorkshire BD17 5NH Circuit Treasurer: Clive Grimshaw 27 Killinghall Drive Bradford BD2 4RX Trustees: The Trustees who are the members of the Circuit Meeting are listed in Note 15 Leadership Team: Rev. Philip Drake Rev. Nicholas Blundell Rev. Christine Crabtree (Resigned 3110812024) Rev. Joy Sykes (Appointed 01/0212024) Rev. Lisa Quarmby (Appointed 0110912024) Rev. Derek Hoe Rev. Geoff Reid (Resigned 17106/2024) Rev. Rob Drost Rev. Pat Malham Rev. Sarah Jemison Mrs Clair Schofield (Administrator) Circuit stewards: Mr Stuart Ayrton Mr Clive Grimshaw Mrs Jennifer Conroy Mr Roger Butterfield Mr Anthony Butterfield Lay Employment Officer: Vacant Local Preachers. Secretary: Mr Stuart Ayrton Property Officer: Mr Ashley France Safeguarding Officers: Mrs Jean Morris (Resigned 31/0812024) Mr Roger Morris (Resigned 3110812024)
Bradford North Methodist Circuit Charity Information Principal address: Baildon Methodist Church Newton Way Baildon Shipley West Yorkshire BD17 5NH Bankers: Barclays Bank UK PLC Leicester LE87 2BP Solicitors: Barton Legal Limited 12 New Road Side Rawdon Leeds West Yorkshire LS19 6HN Independent Examiner: Jessica Lawrence FCA CTA Azets Audit Services Ltd 12 King Street Leeds LSI 2HL
Bradford North Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 structure, Governance and Management The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. The Governing Document: Deed Of Union (1932) and Methodist Church Act (1976) Constituted.. Act of Parliament Selection of Trustees: Appointed by local churches and existing Trustees Ministers are automatically Trustees Structure: Part of the Yorkshire West District of the Methodist Church Accountable to the Methodist Conference Risks: Considered by the Leadership Team Take professional Advice when required Adopted Safeguarding Policy The Trustees consider the key management personnel to be the Circuit Leadership Team which consists of all ministers appointed to the Circuit, including supernumeraries, Circuit Stewards, Treasurer, Property Officer, Safeguarding Officers, Local Preachers, Secretary and Circuit Lay employees. Objectives and Activities The Bradford North Methodist Circuit has worked to the priorities set nationally by the Methodist Church, in response to its understanding of its calling: "The calling of the Methodist Church is." to increase awareness of God's presence and to celebrate God s love. to help people to grow and learn as Christians, through mutual support and care. to be a good neighbour to people in need and to challenge injustice. to make more followers of Jesus Christ. Priorities for the Methodist Church= In partnership with others wherever possible, the Methodist Church will concentrate its prayers, resources, imagination and commitments." to proclaim and affirm its conviction of Gods love in Christ, for us and for all the world," and to renew confidence in God s presence and action in the world and in the Church. As ways towards realising this priority, the Methodist Church will give particular attention to.. underpinning everything we do with God-centred w0h1p and prayer,. supporting community development and action for justice, especially among the most deprived and poor - in Britain and worldwide," developing confidence in evangelism and in the capacity to speak of God and faith in ways that make sense to all involved,. encouraging fresh ways of being Church," nurturing a culture in the Church which is people-centred and flexible. The Bradford North Circuit works to enable the local churches which constitute the Circuit to fulfil their mission and ministry, in the light of the above priorities.
Bradford North Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 When reviewing the aims and objectives of the charity and planning future activities the Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission. Achievements and Performance In the last year we have: continued work on a Circuit strategy document which was agreed by the Circuit Meeting in March 2022, was reviewed in March 2023 & 2024 and will be further reviewed in March 2025; welcomed a new Deacon, Joy Sykes, into the circuit, in February 2024, as part of a joint appointment with the neighbouring Bradford South Circuit, and whose work focuses on the developing circuit project at Crag Road- established a regular cross-circuit meeting to support this joint venture. made preparations to receive a new Presbyter, Rev Lisa Quarmby, into the circuit, in September 2024; and for the Rev Nick Blundell to continue in the circuit, changing from a full time to part time from September 2024; received a newly trained Local Preacher onto full plan, and presented long service awards to three Local Preachers at a Circuit Service in November 2023. encouraged churches to support a new circuit 'Second mile. project, BEACON (Bradford Ecumenical Asylum Concern), which was agreed at the Circuit Meeting in March 2024, setting in place plans to welcome its Chair of Trustees, Rev Sarah Jemison, to speak at the Circuit Meeting in September 2024, and to lead an afternoon introductory session to the work of BEACON in October 2024; implemented the Circuit Project based at the premises of the former Crag Road church (which closed in April 2023); Crag is an area with significant elements of deprivation; established a Management and Development group to oversee the work- engaged with other organisations to begin to create community partnerships for the work at Crag- completed the sale of the premises at Haworth Road, following the closure of the church. continued to review Circuit property, including manses, with reference to long-term viability and ecological consequence. explored ways of working with circuit churches to introduce or improve digital resources, including projection facilities and broadband, allocating funding for this purpose. explored ways of supporting circuit churches to make environmental improvements to their buildings, with a proposal to be brought to the Circuit Meeting in March 2025; supported two churches to make applications to the District Emergency Climate Fund to further work on sustainability- supported our circuit prayer network, linking and resourcing the diverse activities of our churches. continued to produce weekly worship material (online and posted out) to support those who could not get to services, or who are housebound. explored ways of replacing the retiring circuit safeguarding officers including the possibility of creating a paid post for this purpose, thus making our churches safer and more welcoming communities; continued to offer Creating Safer Space training for over 70 people in the circuit; and, with the help of outside facilitation, delivered a workshop on Domestic Abuse. adopted a Domestic Abuse policy for the circuit; instigated Connexional training module on Equality, Diversity and Inclusion, with the participation of circuit and church officers; held a further joint meeting of the Circuit Leadership Teams of the Bradford North and Bradford South Circuits, with the aim of looking at future possibilities for increased cooperation. cooperated with the Yorkshire West District and neighbouring circuits in making plans in readiness for Bradford's City of Culture celebrations in 2025, including an exhibition of works from the Methodist Modern Art Collection. continued to develop our relationship with Bradford South Circuit, through support of the ministry of Rev Andrew Stead in the city centre (St Arnold's); supported the provision of facilities for a listening and counselling service at Touchstone, through renewal of a grant from the circuit; supported the ecumenical work of Churches Together groups, including the hosting of a debt worker at one of the circuit churches-
Bradford North Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 Achievements and Performance (continued) continued to support local leadership teams in a significant number of churches; monitored our method of determining local church financial contributions to the work of the circuit; continued with a system of yearly review to ensure that churches and circuit remain GDPR compliant; and enabled three local ecumenical partnerships in the circuit to continue their work while reflecting on future challenges and possibilities. Future Plans Challenges moving forward continue to include developing team ministry in such ways that local lay leadership and ministries are supported and enabled to develop, and working with local churches to determine, and put into practice, a realistic long-term strategy for best use of resources for ministry and mission to the communities of North Bradford. This will be done in alignment with the objectives laid out in the Circuit Strategy document, and through ongoing review of future ministry needs. Financial Review The Statement of Financial Activities shows net income for the year, before other recognised gains, of £200,197 (2023 net expenditure of £165,450) after grants paid of £nil (Note 5 to the financial statements). The total reserves at 31 August 2024 stand at £2, 175,313 (2023: £1,973,983). The Trustees consider the financial position to be satisfactory. Principal Funding Sources Principal funding sources for the year to 31 August 2024 are the Assessments received from the twelve churches within the Circuit. The principal expenditure was the salary costs of the three Ministers, one Deacon and two lay staff employed by the Circuit. Reserves Policy The Trustees have established a policy whereby the unrestritted funds not committed or invested in tangible fixed assets ('the free reserves,) held by the Circuit are six months of expenditure amounting to £221,716 for the year ended 31 August 2024. At 31 August 2024 the free reserves amounted to £916,001 (2023: £710,178) thus above this target. The reserves policy will be reviewed annually. Fundraising We strive to achieve the highest fundraising standards, and we value our supportive funders. We stay up to date with developments in charity regulation, data protection and the Fundraising Preference Service (FPS) to make sure we are legally compliant and adhering to all guidelines. We follow the Institute of Fundraising's Code of Practice. No complaints about fundraising were received during the year.
Bradford North Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 Trustees. Responsibilities The charity Trustees are responsible for preparing a Trustees. annual report and 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 Circuit Meeting 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 net income or net expenditure of the Charity for that period. In preparing those financial statements, the Circuit Meeting has: selected suitable accounting policies and applied them consistently; observed the methods and principles in the applicable Charities SORP- made judgements and estimates that are reasonable and prudent- stated whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepared the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Circuit Meeting is responsible for keeping records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the applicable Charities (Accounts and Reports) Regulations. It is also responsible for safeguarding the assets of the charity and hence for taking steps for the prevention and detection of fraud and other irregularities. Approved on 13th March 2025 and signed on behalf of the Circuit by: PW )rAk&- Rev. Philip Drake Superintendent Minister
Bradford North Methodist Circuit Independent Examiner's Report to the Trustees of Bradford North Methodist Circuit I report on the financial statements of Bradford North Methodist Circuit for the year ended 31 August 2024. Responsibilities and basis of report As the charity Trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Art,). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity commission under section 145(5)(b) of the Att. This report, including my statement, has been prepared for and only for the charity's trustees as a body. My work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body for my examination work, for this report, or for the statements I have made. Independent Examiner's Statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. l. accounting records were not kept in respect of the charity as required by section 130 of the Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. J655i6L7 LL7kvf6P766 Jessica Lawrence FCA CTA Azets Audit Services Ltd 12 King Street Leeds LSI 2HL 1610412025
Bradford North Methodist Circuit Statement of Financial Activities for the Year Ended 31 August 2024 General Circuit Model Restricted Endowment Fund Trust Fund Funds Funds {Unrestricted) (Unrestricted) 2024 Total 2023 Totsl Note Income from: Donations and legacies Donations 600 600 600 Assessment or Share 242.742 242,742 351,276 235,163 Sale of chapel Charitable artivities 351.276 Grant5 12,688 13.481 643 12,688 35,679 643 Investment Income 21.482 710 23,558 1,792 261,113 Other income Total income 270,154 372,758 710 643,628 Expenditure on: Charitable Artivities stipends and staff costs District Assessment Admin, insurance, professional telephone and travel 138.146 53.340 29,000 167,146 53,340 171,525 50,320 39.793 59.088 38 98,919 105,739 15,934 45.945 31,034 721 15,934 45,945 57,142 721 21,330 4,874 38,627 790 Maintenance on manses Expenditure on other Circuit property Depreciation other expenditure Grants and donations 25,008 i.ioo 4.284 4,284 2,858 30,500 426,563 Total expenditure 329.197 113,096 1,138 443,431 Net {expenditure)/income before other reco nised ains Realised and unrealised gains on investments Transfers between funds (59.043) 259.662 (428) 200,197 {165,450) 1.133 1,133 (650) (5.016) (64.059) 5.000 265,795 16 Net movement in funds (428) 22 201,330 (166,100) Funds brought forward Funds carried forward 1,593,409 1,529,350 367,240 633,035 13,234 12,806 100 1,973,983 2,140,083 122 2,175,313 1,973,983 A comparative Statement of Financial Activities for the year ended 31 August 2023 is shown in Note 16. There were no recognised gains and losses for 2024 and 2023 other than those included in the Statement of Financial Activities. The notes on pages 10 to 21 form part of these financial statements.
Bradford North Methodist Circuit Balance Sheet as at 31 August 2024 General Fund Circuit Model Restricted Endowment (Unrestricted) Trust Fund Funds Funds (Unrestricted) Total Funds 2024 Total Funds 2023 Note Fixed assets: Tangible assets Listed Investments Long Term Loan 1,230,605 1,230,605 1,225,825 15,779 14,646 10,000 1,246,384 1,250,471 15,779 1,230,605 15,779 Current assets: Debtors Cash deposits Cash at bank and in hand 14,665 302,072 14,665 122 964,656 20,488 643,729 649,656 12,806 33,280 33,280 141,806 350,017 649,656 12,806 122 1,012,601 806,023 Creditors: Amounts falling due within one year Net current assets Creditors: Amounts falling due after more than one year Total net assets io (51,272) (22,000) (73,272) (58,711) 298,745 627,656 12,806 122 939,329 747,312 io (10,400) (10,400) (23,800) 1,529,350 633,035 12,806 122 2,175,313 1,973,983 Funds of the Circuit General Fund 11/12 Circuit Model Trust Fund 11/12 Total Unrestricted Funds Restricted Funds 1,529,350 1,529,350 1,593,409 633,035 367,240 2,162,385 1,960,649 12,806 13,234 122 loo 633,035 633,035 1,529,350 11/12 11/12 11112 12,806 Endowment Funds Total Funds 122 1,529,350 633,035 12,806 122 2,175,313 1,973,983 The notes on pages 10 to 21 form part of these financial statements. These financial statements were approved by the board of Trustees on 13th March 2025 and signed on its behalf. k&&*rèrtJ pkl¥p/ )rA Rev Philip Drake Superintendent Minister and Chair of Trustees
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: Charity information Bradford North Methodist Circuit is a charitable trust registered with the Charity Commission in England and Wales under the registered number 1137672. The principal address is Baildon Methodist Church, Newton Way, Baildon, Shipley, BD17 5NH. Basis of preparation of Financial Statements The financial statements have been prepared in accordance with the Statement of Recommended Practice- Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from l January 2019. Bradford North Methodist Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. Going concern The Trustees have prepared financial projections, taking into consideration the current economic climate and its potential impact on the sources of income and planned expenditure. They have a reasonable expectation that adequate financial resources are available to enable the charity to continue in operational existence for the foreseeable future and have adequate contingency plans in the event that income streams are reduced. The charity still has reserves sufficient to meet its immediate requirements. Consequently, the financial statements have therefore been prepared on the basis that the charity is a going concern. Bradford North Methodist Circuit meets the definition of a public benefit entity under FRS 102. 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 categorised as unrestricted. Restricted funds represent grants, donations and legacies received which are allocated by the donor for a particular project or activity. Endowment funds represent gifts, the capital normally being unavailable for spending, and the income from which is either restricted or unrestricted. Details of each material fund are disclosed in the notes to these Financial Statements. io
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 Accounting Policies (continued) Income Income represents all income which becomes available to the charity but excludes gains on investments. Grants and donations are recognisable when the charity becomes entitled to receive the funds, when it is probable that the funds will be received and that they can be measured with sufficient accuracy. Investment income is recognised on an accruals basis and comprises of interest receivable during the accounting period. Sale proceeds from the sale of assets not previously capitalised are shown net of the property levy where there is no replacement scheme for those assets. Expenditure Expenditure is recognised in the period in which it is incurred and includes attributable VAT which cannot be recovered. Charitable expenditure comprises those costs incurred by the charity in the deliverance of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirert nature necessary to support them. Support costs include those costs incurred in supporting the work of the charity. Liability recognition Liabilities are recognised as soon as there is a legal or construrtive obligation committing the Circuit to pay out resources. Tangible fixed assets for use by the Circuit A tangible fixed asset is capitalised where the cost of an individual asset is £1,000 or more. The Circuit Meeting has provided a reasonable estimate of the buildi ngs. cu rrent value to the circuit. It is the circuit's policy to revalue its buildings on a regular basis. Contents are included in the valuation of each property accordingly no depreciation is provided on freehold property. The Trustees consider the carrying value of the freehold land and buildings to be materially equivalent to the carrying value. Depreciation rates are as follows: Manses, furniture and fittings Equipment At valuation 25 % straight-line basis Transfer of church buildings into the circuit Where a church building that is no longer under the stewardship of the church but where responsibility for stewardship has been transferred to the circuit following the closure of the church, the following accounting policy will be adopted. The property will be included as a current asset net of any levy and included in income where an acceptable offer has been made for the building during the accounting period and the sale ha5 been crystallised after the year end. Investments Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA. Deposit Funds, such as TIF (Trustee Interest Fund) held via Trustees for Methodist Church Purposes and the Central Finance Board are shown separately from Cash and Bank in the Balance Sheet. li
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 Accounting Policies (continued) Financial Instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Debtors and prepayments Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any discounts due. Creditors, loans, provisions and grants payable Creditors, loans and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfers of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement value after allowing for any discounts which may be due. Grants Grants payable are commitments (including payments) made to third parties in the furtherance of the charitable objectives of the charity. Single or multi-year grants are accounted for as grants payable when either the recipient has a reasonable expertation that they will receive a grant and the Trustees have agreed to pay the grant without condition, or the recipient has a reasonable expectation that they will receive a grant and any condition attaching to the grant is outside the control of the charity. Grants to local churches for property schemes and other purposes are accounted for as liabilities when they receive formal approval by the Circuit Meeting. On some occasions the Circuit Meeting will be asked to indicate whether it would approve a property development or building of a new church when the project is still at a development stage and other partners are still being consulted. The Circuit Meeting usually indicates that it would support the investment of the proceeds of sale of any related properties and how much it would be prepared to give in addition. Such amounts are not considered to be binding obligations on the Circuit until such time as a formal scheme is brought forwarded and approved by the Circuit Meeting. Financial liabilities are only derecognised when, and only when, the charity's obligations are discharged, cancelled or they expire. Pensions and staff costs The charity makes payments to the Methodist Ministers. Pension Scheme (MMPS) which is a defined benefit5 scheme operated by The Methodist Church. The Circuit accounts for contributions paid by circuit as defined contribution scheme as the defined benefit lability is that of the Methodist Church not the Circu it. Taxation Bradford North Methodist Circuit is a registered charity and as such is potentially entitled to tax exemption under Settion 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising. 12
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 Accounting Policies (continued) Critical Accounting Estimates and Judgements In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities. Minister and Lay Staff Information The average number of clergy and lay staff analysed by function was: 2024 2023 Clergy La staff Ministers and lay staff costs during the year were as follows: Lay staff 2024 Lay staff 2023 Cleryy 2024 Total 2024 Clergy 2023 Total 2023 Wages and salaries Social secu rity costs Pension costs 99,076 9,541 29,488 128,564 1,558 11,099 97,626 9,291 35,446 133,072 2,016 11,307 134 331 32 815 167 146 132 270 39 255 171 525 No employee earned £60,000 or more during the year (2023: no employee). The charity considers its key management personnel to be the Circuit Leadership Team as set out on page l. The remuneration of the Circuit Ministers (clergy) and Lay staff are set out above with further details set out in Note 13. No other members of the Circuit Leadership Team receive remuneration from the Circuit. 13
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 Trustees. Remuneration and Trustees. Expenses There were no expenses paid to Trustees during the year other than those referred to in Note 13. All salaried ministers, expenses were incurred in carrying out their roles as ministers. Information on amounts paid to Trustees is included in Note 13. Net Expenditure This is Stated after charging: 2024 2023 Independent examination fee (including non-recoverable VAT) De reciation 2,820 721 2,580 790 Grant Expenditure Commitments Commitments Paid in Commitments unpaid as at i made in 202312024 unpaid as at September 2023/2024 31 August 2023 2024 Oryanisation Touchstone Christians Against Poverty Debt Agency Grant (3 years) Bradford South City Centre St Arnolds {3 years) Chaplaincy Grant {3 years) 16,200 15,000 (5,400) (5,000) 10,800 10,000 6,000 3,200 (3,000) 3,000 3,200 40,400 (13,400) 27,000 14
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 6. Tangible Fixed Assets Property (Manses and internal contents) Office equipment Total Valuation: As at I September 2023 Additions Disposals At 31 August 2024 1,225,000 17,093 5,501 (4,794) 1,242,093 5,501 (4,794) 1 242 801 1 225 000 Depreciation: As at I September 2023 Charge for year On disposals At 31 August 2024 16,268 721 16,268 721 (4,794) (4,794) Net book value= At 31 August 2024 At 31 August 2023 1 225 000 1 230 605 1 225 000 825 1 225 825 The historical cost of tangible fixed assets was £1,015,348 (2023 £1,015,348) Investments Market value at 31 August 2023 Realised ain on investment Market Value at 31 Au ust 2024 14,646 15,779 Investments include unitised funds held in the Managed Mixed Fund administered by the Central Finance Board of the Methodist Church. The historical cost of investments held at market value was £7,918 (2023 - £7,918). Long Term Loan 2024 2023 Loan to Yorkshire West Methodist District 10,000 Debtors: Amounts Falling Due Within One Year 2024 2023 Pre a ments and other debtors 15
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 io. Creditors: Amounts Falling Due Within One Year 2024 2023 Assessments in advance Grants payable (Note 5) Creditors and accruals 46,828 16,600 32,995 16,600 Creditors: Amounts Falling Due Over One Year 2024 2023 Grants able Note 5 11. Movement in Funds Balance I September 2023 Balance Gains 31 August 2024 Current year Income Expenditure Transfers Unrestricted funds: General Funds Circuit Model Trust Fund Total unrestricted funds 1,593,409 367,240 1,960,649 270,154 372,758 642,912 (329,197) (5,016) (113,096) 5,000 (442,293) (16) 1,529,350 633,035 2,162,385 1,133 1,133 Restricted funds: Mabel Goldsbrough Bequest Trust 17586 Various Bequests Total restricted funds 6,299 335 (1,118) 5,516 6,935 375 (20) 7,290 710 Permanent Endowment: Edwin Robinson Bequest Total funds loo 16 122 1.973,983 643,628 (443,431) 1,133 2,175,313 Restricted funds: Mabel Goldsbrough Bequest is for the upkeep and maintenance of the Circuit's Croft Street Cemetery. 16
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 11. Movement in Funds (continued) Balance I September 2022 Balance Gains 31 August 2023 Prior Year Income Expenditure Transfers Unrestricted funds: General Funds Circuit Model Trust Fund Total unrestricted funds 1,640,801 485 251 2,126,052 246,074 (308,878) 116 546 (425,424) 15,412 1,593,409 367 240 1,960,649 650 (650) 260,671 Restricted funds: Mabel Goldsbrough Bequest Trust 17586 Various Bequests Total restricted funds 7,193 226 (1,120) 6,299 6,738 216 (19) 6,935 13,931 442 13,234 Permanent Endowment: Edwin Robinson Bequest Total funds loo loo 2,140,083 261,113 (426,563) {650) 1,973,983 12. Analysis of Net Assets by Fund Current Year Unrestricted funds Restricted funds Endowment funds Total funds Tangible fixed assets Listed Investments Net current assets Creditors over l ear 1,230,605 15,779 926,401 1,230,605 15,779 939,329 12,806 122 2 162 385 122 2 175 313 Prior Year Unrestricted funds Restricted funds Endowment funds Total funds Tangible fixed assets Listed Investments Long term loan Net current assets Creditors over I ear 1,225,825 14,646 10,000 733,978 1,225,825 14,646 10,000 747,312 13,234 loo 1 960 649 loo 1 973 983 17
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 13. Related Party Transactions Ministers Stipends and allowances for presbyters and deacons (collectively ministers) are set annually by the Methodist Conference, and the Circuit is responsible for meeting those costs for all ministers appointed by the Conference to the Circuit. The following ministers received the basic stipend of £29,040 (2023: £26,928) Rev N Blundell Rev P Drake Rev C Crabtree Deacon J Sykes was employed from February 2024 at 500/0 and received the basic stipend of £8,470. In the prior year Deacon M Evans was employed at 50 % and received the basic stipend of £13,464. Ministers and Deacons are provided living accommodation as required by the church's Standing Orders. In addition to the basic stipend the following Connexionally agreed additional allowances were paid: Rev P Drake: Superintendent Minister's allowance of £2,904 (2023: £2,693). Lay employees The following members of the Circuit Meeting are also employees of the Circuit and are in receipt of salaries for the work they undertake in the capacities indicated. They do not receive payment for acting as Trustees: Name Position 2024 2023 Clair Schofield Laura Tunnacliffe Administrator Children's Ministry Enabler (resigned March 2023) Finance Officer (resigned December 2022) Finance Officer (appointed March 2023 18,694 19,176 8,905 Louise Rouse 4,423 Clive Grimshaw other related party transactions Ashley France who is a Trustee of the circuit, is a chartered surveyor employed by Batty France, chartered quantity surveyors. Batty France provided professional services totalling £22,548 (2023: £18,789) to the circuit during the year in relation to a number of properties held by the charity. There was £nil outstanding balance to Batty France at 31 August 2024 (2023- £nil). 18
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 14. Pension Schemes The charity makes payments to the Methodist Ministers. Pension Scheme (MMPS) which is a defined benefit scheme. The Circuit accounts for contributions paid to the scheme as if the scheme were a defined contribution scheme and amounts are recognised in the income statement. The Circuit is not a participating employer in the scheme and the liability sits with the Methodist Church. The circuit contributes 26.90/0 (2023- 26.90/0) of ministers, stipends which are paid by the Methodist Church. The cost of the pension scheme to the circuit for the year ended 31 August 2024 was £25,714 (2023: £25,353). At the 31 August 2024 £1,545 was prepaid in respect of the scheme (2023: £1,953). Two of the Lay Employees are members of The Pensions Trust, which is a defined contribution scheme. The cost of the pension scheme to the circuit for the year ended 31 August 2024 was £1,769 (2023: £1,793). 15. Trustees The following Trustees have held office since I September 2023: David O'Loan Janet Bell Stuart Ayrton Rev. Nick Blundell Linda Bairstow Geoffrey Briggs Martin Bashforth Roger Butterfield Tim Billingsley June Carter Anthony Butterfield Jennifer Conroy Margaret Isaac (appointed 14/0912023) John Denton Rev. Christine Crabtree (resigned 31108/2024) Rev. Philip Drake Ian Dobson Carol Whitrick Sheila Dunn Clive Grimshaw Ashley France Janet Harper (resigned 3110812024) Alun Griffiths Judith Herne Nigel Hainsworth Diana Hogg Rev. Derek Hoe Helen Hoyle David Hogg Peter Jackson Dee Kesler Laurence Mann Rev. Pat Malham Colleen Middleton Jean Morris (resigned 31108/2024) Roger Morris (resigned 31/0812024) jeremy Parker Rev. Geoff Reid (resigned 1710612024) Rev. Sarah Jemison Norman Roper Joyce Rossington Deacon Joy Sykes (appointed 01/0212024) Rev. Rob Drost John Watmough Clair Schofield Heather Ayrton Allan Barker 19
Bradford North Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 16. Comparative Statement of Financial Activities for the Year Ended 31 August 2023 General Circuit Model Restrirted Endowment Fund Trust Fund Funds Funds (Unrestricted) (Unrestricted) 2023 Total Income from: Donations and legacies Donations 600 600 Assessment or Share 235,163 235,163 Charitable activities Transfer from circuit church Investment Income 8.519 1.792 246,074 14,597 442 23,558 1,792 261,113 other income Total income 14.597 442 Expenditure on: Charitable Activities Stipends and staff costs District Assessment Admin, insurance. professional telephone and travel utilities 117,525 50,320 54,000 171,525 50,320 73,654 32,046 39 105.739 21.330 4.874 37.527 790 21,330 4,874 38,627 790 Maintenance on manses Expenditure on other Circuit property Depreciation other expenditure Grants and donations i.ioo 2.858 2,858 30,500 426,563 30.500 116,546 Total expenditure 308.878 1,139 Net (expenditure) before other reco nised ains (62.804) (101,949) (697) { 165,450) Realised and unrealised gains on investments Transfers between funds (650) (15.412) {118,011) (650) 15,412 (47.392) Net movement in funds (697) {166, 100) Funds brought forward Funds carried forward 1,640,801 1,593,409 485,251 367,240 13,931 13,234 100 2,140,083 100 1,973,983 20