2024-08-31-accounts - Wigan Methodist Circuit

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REGISTERED CHARITY NUMBER 1138103

Report of the Trustees and

Financial Statement for the Year ended 31 August 2024

for

Wigan Methodist Circuit

Wigan Methodist Circuit Report of the Trustees for the Year Ended 31 August 2024

The trustees present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of the Charities Act 2011 and the Charities ‘Statement of Recommended Practice (SORP) 2015 ' as applicable to the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2015).

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1138103

Principal address Wigan Methodist Circuit Circuit Office Spencer Road Whitley Wigan WN1 2QR

Trustees

The members of the Circuit Meeting are the Charity Trustees. A full list of trustees is included in the financial statements.

Accountant and Independent Examiner

Arc Accountancy Solutions Limited 51 Laverton Road Lytham St. Annes FY8 1EN

Advisers

The charity's investment managers are TMCP, Central Buildings, Oldham Street, Manchester M1 1JQ.

The following ministers acted throughout the year:

Rev S Swithenbank (resigned 31[st] August 2024) Rev J Hilton Rev P Powers (appointed 1[st] September 2024) Rev R Towle Deacon Kathy Lamb Deacon Clare Purfit

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.

The charitable trust is constituted by the Deed of Union 1932, the Methodist Church Act 1976, is part of the Methodist Church of UK. The trustees listed have served throughout the year. Appointment of trustees is governed by the Methodist Church Act 1976. The Managing Trustees of Churches and the Circuit are empowered by our Standing Orders to appoint new trustees and to fill vacancies arising through resignation or death of an existing trustee. Circuit Managing Trustees have regular meetings where the Circuit’s main areas of activity and by extension the aims of the charity are discussed and agreed. The day to functioning of the circuit is governed by Standing Orders as set out in the Constitution, Practice and Discipline of the Methodist Church. The charitable trust is registered with the Charity Commission.

Wigan Methodist Circuit Report of the Trustees for the Year Ended 31 August 2024

FINANCIAL REVIEW

Reserves policy

The Managing Trustees review the major risks which the charity face and consider that there are none which would stop the charity from maintaining its objects. Assessments from individual churches have been agreed for the forthcoming year. It is the policy of the charity to maintain unrestricted funds at a reasonable level to cover unforeseen expenses. This provides sufficient funds to cover management and administration and support costs for at least 6-months.

Ministerial stipends remained at the same level. One Presbyteral Minister (Superintendent) moved on and was replaced by another Presbyteral Minister (Superintendent). The Circuit continues, via grants and donations received, to support one Family Missioner who works with local churches in the circuit and community. Two manses (Upholland Road & Spencer Road) continue to be leased and produce a regular monthly income to the Circuit.

Total assessment levied on the churches was £188,656. The overall net decrease in Circuit funds for the year was £494,008. The total income and expenditure account for the year is detailed in the financial statements. The total value of manse and church property decreased in the year by £382,491 mainly due to a loss of £582,491 bringing the properties in line with fair value, offset by an increase of £200,000 from the addition of Blackrod church.

The coronavirus pandemic which began in March 2020 continues to reduce income from lettings and the need to support individual churches is likely to continue into the next financial year.

The trustees consider that the funds available are sufficient to permit the trust to continue in operation in the medium term, given the agreed assessments of the individual churches and the Connexional nature of its governance.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Safeguarding

The Circuit is committed to ensuring the implementation of the Connexional Safeguarding Policy, government legislation, guidance and safe practice in the circuit and in the churches. A training programme has enabled all members needing updating training and those needing initial training to attend an appropriate session.

Investment Powers

The Methodist Church Act 1976 authorises the trustees to make and hold investments using the general and other funds of the charity, and such investments are presently held and shown within the financial statements at their current value.

Wigan Methodist Circuit Report of the Trustees for the Year Ended 31 August 2024

OBJECTIVES AND ACTIVITIES

The objectives and aims of the Managing Trustees are to oversee and further the work of the Methodist Church. To this end, those activities which come within the oversight of the Managing Trustees are to provide ministerial oversight, manage circuit property including manses, contribute, as agreed, to District and Connexional assessments and be mindful of development opportunities for the Circuit. In order to do this the Managing Trustees, raise assessments on individual Methodist Churches in the Wigan area in accordance with Standing Orders. They may also make grants to individual churches for property, Ministry and Mission as permitted and governed by the Standing Orders. The Managing Trustees believe that these activities and the church resources are for the public benefit as, through its work the Managing Trustees enable pastoral ministry, spiritual engagement and contribute to community development in the Wigan Area. The Managing Trustees have noted the Charity Commission’s guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

The Wigan Circuit seeks to be a close union of its individual churches. Everyone connected with a church should expect to feel that they are an important part of the church family and be supported. Through our common faith in Christ we seek, in prayerful action, to share and spread the love of Jesus throughout the local and wider community. Opportunities for gathering as a circuit have increased during the year. As well as circuit worship and events, groups of churches in geographical proximity share worship regularly. The circuit continues to place an emphasis on training for mission. This includes training in Safeguarding, Equality, Diversity and Inclusion, and Unconscious Bias, that we may be a group of churches more able to serve our diverse communities.

The twelve churches across the circuit continue to serve their local communities through coffee mornings, luncheon clubs, toddlers, friendship groups, family support groups, craft groups and book clubs, all reaching out into the community. We have strong links with the two Methodist/Anglican Schools in our circuit. The town Centre church works with the homeless and offers a food bank which is strongly supported by all the other circuit churches. Many church buildings are used on a regular basis for community activities by outside agencies including Age Concern, Healthy Living, Post Office, Alcoholics Anonymous, as well as the Redeemed Church of God, the Quakers, ACE, different nurseries, Moomusic, they are also home for a number of scout and guide association groups. We continue to offer prayer spaces and warm places for anyone and are supporting local schools and families with food parcels and pastoral care as appropriate.

A lot of the work in the circuit is done on a voluntary basis and includes that of Circuit and church officers, commissioned Lay Persons, Local Preachers and Worship Leaders, members and secretaries of all the church committees and those assisting in running children’s work etc. Our financial management continues to be supported by Transforming Church and Communities organisation to manage day to day circuit finances, and with our accountant the circuit is able to monitor our financial activities effectively.

From a financial perspective, the Managing Trustees consider that the performance of the charity this year has been satisfactory. Stipends and salaries have been covered, circuit property managed and kept in reasonable repair and external expenses covered. The circuit has completed the sale of Trinity, Worsley Mesnes and Gidlow Church premises, which has supported the income and expenditure deficit during the year. Blackrod Church will be sold in the next financial year.

The Circuit’s four ordained staff continue to serve the twelve Local Churches. A change of Superintendent Minister is due in September 2024, and the circuit extends its thanks to Rev. Swithenbank for his service.

Wigan Methodist Circuit Report of the Trustees for the Year Ended 31 August 2024

STATEMENT OF TRUSTEES RESPONSIBILITIES

The trustees are responsible for preparing this report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year. The statements must give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting 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, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the Circuit Meetng on 11/12/2024 and signed on its behalf by:

Rev. Peter E. Powers Superintendent Minister Wigan Circuit

Wigan Methodist Circuit Report of the Trustees for the Year Ended 31 August 2024

Appendix

Managing Trustees 2023/24

The trustees are the members of the Circuit Meeting as set out below as at 31 August 2024:

Circuit Staf	Revd Shaun Swithenbank; Revd Richard Towle; Deacon Kathy Lamb; Deacon Clare Purft;Mrs Elaine Meehan;Claire Hewlet
Circuit Stewards	Mrs Margaret Sowerby;Mrs Olwen Calland;Mr John Hughes;Mrs Ruth Ade-Hall
Sec. of Circuit mtg	Mrs Elaine Meehan
Sec. of Preachers’ meetng	Mr Ken Vernon
Circuit Treasurer	Vacant(Circuit staf cover)
Circuit PropertySec	Vacant(Circuit staf cover)
World Mission Fund	Vacant
MHA	Mrs Susan Foster
Acton for Children	Mrs Carol Litler
Circuit Safeguarding	Mrs Vivienne Lowe
	Treasurer;Steward + 2 reps from Church Councils
Aspull	Mr James Porter;Mr Richard Baker;Mr Allen Howarth;Mrs Denise Howarth
Bispham	Mrs Rosalind Smith;Mrs Jill Prosser;Mr Alan Roby;Dr David Lythgoe
Blackrod	CLOSED
Clowes	Mrs Marjorie Johnson; Mrs Kathleen Lord; Mrs Margaret Wright; Mrs Linda Winrow
Crooke	Mrs Ruth Chapman;Mr Brian Seed;Mrs Vivienne Fletcher;Mr Stephen Tebbit
Goose Green	Dr John Rylance;Mr John Selley;Mrs Gill Harrison;Mr John Hughes
Ince	Mr GaryCalland;Mrs Olwen Calland;Mr GaryWaterworth
Orrell Post	Mr Eric Ashcrof;Mr Keith Kynaston;Mrs Anne Finch;Mrs Elaine Waterworth
Queen’s Hall	Mr Sam Ocran;Mrs Margaret Parker;Miss Ruth Russell
Shevington	Mrs Elaine Ashcrof;Mrs Evelyn Barrow
Spencer Road	Mr Bryan Shepherd;Mrs MaryLloyd;Mr Ken Speakman
Standish	Mr Andrew Sharrock;Mr James Porter;Mr John Grayson;Mr David Pilkington
The Vale	Mr Martn Ade-Hall;Mrs Ann Fallows;Mrs Ruth Ade-Hall;Mrs Liz Maxwell

Wigan Methodist Circuit

Statement of Financial Actvites for the Year Ended 31 August 2024

Income 1 Donations and legacies 2 Income from monetary investments 3 Income from investment properties 4 Assessments on Churches 5 Capital Receipts & Levy refund 6 Grants received 7 Other charitable income 8 Transfer of account balances from Blackrod Church & Worsley Mesnes 9Total income Expenditure Expenditure on charitable activities: 10 Grants and donations 11 Stipends, salaries, NIC and pension costs 12 Property maintenance 13 District Assessment & Levy 14 Purchase of property 15 Depreciation 16 Office, administration and travel expenses 17 Other outgoings 18Total charitable expenditure 19 Net income before investment losses/gains 20 Gains/(Losses) on monetary investments 21 Gains/(Losses) on investment properties revaluation and disposals 22 Net income/(expenditure) before transfers 23 Transfers between funds 24 Other gains/(losses) 25 Net movement in funds 26 Funds brought forward 27 Property funds brought forward 28 Total Funds brought forward 29 Total funds carried forward	Note General Fund (Unrestricted) Circuit Model Trust (Unrestricted & Designated) Designated Funds (unrestricted) Restricted Funds Total 2023-24 Total 2022-23 £ £ £ £ £ £ 12 387 20,000 20,387 328 91 14,886 9 14,986 6,634 27,911 4,000 31,911 33,000 188,656 188,656 166,570 2 447,884 447,884 - - 9,990 3 5,668 5,000 12,000 22,668 13,777 12 14,375 14,375 202,718 222,713 467,770 18,375 32,009 740,867 230,299
	551 45,000 45,551 58 4 175,592 12,412 188,004 177,250 59,029 26,587 1,013 86,629 82,697 56,820 5,279 62,099 67,187 0 0 0 0 18,024 443 18,467 16,626 1,121 1,121 604 311,137 50,722 26,587 13,425 401,870 344,422
	(88,424) 417,048 (8,212) 18,584 338,996 (114,123)
	194 194 (112) 7 (376,564) (376,564) (582,491) (464,988) 417,242 (8,212) 18,584 (37,374) (696,726)
	101,755 (121,000) 19,245 0 0 0 0 (363,233) 296,242 11,033 18,584 (37,374) (696,726)
	21,059 155,585 (11,033) 22,850 188,461 299,978 2,488,916 2,488,916 2,871,407 2,509,975 155,585 (11,033) 22,850 2,677,377 3,171,385
	2,146,742 451,827 - 41,434 2,640,003 2,677,377

Wigan Methodist Circuit

Balance Sheet

for the Year Ended 31 August 2024

Fixed Assets	Note	General Fund (Unrestricted) £	Circuit Model Trusts (Unrestricted & Designated) £	Designated Funds (Unrestricted) £	Restricted Funds £	Totals 2024 £
Circuit Manses & Equipment	8	1,338,020				1,338,020
Investment Properties (church buildings)	9
Investment Properties (manses rented out)	9	654,332				654,332
Total fixed assets		1,992,352	0	0	0	1,992,352

Current Assets						27,775 120,000 453,309 488 71,354 672,926 25,275 0 25,275 647,651 2,640,003 2,640,003 2,146,742 451,827 0 2,598,569 41,434 2,640,003
Debtors	10	27,775				27,775	25,685
Investment properties held for sale	9	120,000				120,000	0
Investments with TMCP		1,308	451,827		174	453,309	156,994
Central Finance Board Deposits		488				488	464
Cash at Bank and in hand		30,094			41,260	71,354	11,284
Total current assets		179,665	451,827	0	41,434	672,926	194,427
Current liabilities
Creditors (due in under 1 year)	11	25,275				25,275	5,966
Grants payable within 2020-21						0	0
Total current liabilities		25,275				25,275	5,966
Net current assets/liabilities		154,390	451,827	0	41,434	647,651	188,461

Total assets less current liabilities		2,146,742	451,827	0	41,434	2,640,003	2,677,377

Long term liabilites (due afer more than oneyear)
Grants payable after 2019-19
Loans to the Circuit

Net assets		2,146,742	451,827	0	41,434	2,640,003	2,677,377
Funds of the Circuit
General Fund (Unrestricted)		2,146,742				2,146,742	2,590,975
Circuit Model Trust Fund (Unrestricted)			451,827			451,827	155,585
Designated Funds (Unrestricted)				0		0	(11,033)
Total Unrestricted Funds						2,598,569	2,654,527
Restricted Funds					41,434	41,434	22,850
Endowment Funds
Total Funds	12	2,146,742	451,827	0	41,434	2,640,003	2,677,377

Wigan Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

1 Basis of accountng policies

i Accountng standard

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2015) - (Charities SORP (FRS 102)).

ii Public beneft entty

The Wigan Methodist Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical costs or transaction value unless otherwise stated in the relevant accounting policy note(s) below.

iii Basis

These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. The accruals basis has been used and trustees present accounts that show a true and fair view of the Circuit’s financial position and activities.

iv Content

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research, and judgement. The accounts are expressed in £ Sterling, rounded to the nearest pound.

v FRS102 SORP2015

The accounts have been prepared in accordance with applicable charity law in England this being the Charities Act 2011, The Charities (Accounts and Reports) Regulations 2008 SI 2008/629 and Accounting and Reporting by charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS 102.

vi Going concern

Based on the monetary assets and human resources available at 31 August 2023, the trustees believe that the Circuit is a going concern.

vii Consolidaton

The Circuit has denominational regulatory oversight in respect of the work of the Churches within the Circuit but has no legal or operational control of those Churches and their governing bodies except in extreme circumstances. For this reason, the financial statements of Churches within the Circuit are not consolidated into these financial statements.

viii Income recogniton

Income is brought into account when there is entitlement and the amount is reliably measurable once it is more likely than not that the economic benefit of the income will be forthcoming.

Individual amounts categorised as Other income in the SOFA will be shown separately if they are considered material.

The Circuit acts as agent in two matters:

the collection from Churches and payment over of their contributions to various funds controlled and administered by The Methodist Church - "Connexional Funds"
the administration (application, collection and disbursement) of grants requested by Churches within the Circuit from, but not limited to, the District and Connexion. In all these matters the transactions are not reflected in the SOFA because they are the income of either the Connexion or Churches as appropriate. Instead, the transactions are disclosed in the Notes to the Accounts as required by SORP (FRS102), module 19.12n.

In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised. If goods are donated, a value will be shown in the SOFA or Notes where the value is considered material.

ix Expenditure

This is recognised when a liability is incurred, or a constructive obligation arises, where the amount is reliably measurable and it is considered more likely than not that there will be an outflow of economic benefit.

Wigan Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

x Grants

Grants made by the Circuit from its own funds are recognised in full at the time of agreement or when the Circuit accepts that there is a legal or operational obligation to make the payment. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.

xi VAT

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

xii Critcal accountng estmates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts 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 relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The trustees have made judgements and estimates in respect of: the fair value of tangible assets, and investment properties shown at fair value. The trustees have determined that any differences arising between actual amounts realised upon sale and fair value estimates will have no impact on the Circuit’s ability to continue as a going concern.

xiii Tangible fxed assets

These are capitalised if they can be used for more than one year, and individually cost at least £250.

The freehold and/or long leasehold residential property is shown in the accounts at 2023 values based on the sums insured except where a sale is anticipated in the near future where realisable value is used. The Circuit Meeting has estimated the residential properties current value based on insurance values and taking account of the fact that cover will be based on demolition and reinstating the current building and not the original cost less accumulated depreciation. The land component is not recognised in these figures. No depreciation is provided on the residential properties because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The residential properties have been reviewed for impairment.

xiv (a) Investment Propertes

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year.

From time to time the Circuit may hold residential property (formerly manses) which is surplus to its normal staffing requirements. When the intention is to hold the property for capital appreciation or its rental income, the property is classified as investment property and carried at fair value.

Churches which are closed are transferred into the care of the Circuit from the Methodist Church and are valued at a deemed cost based on the valuation of an external valuer.

xiv (b) Investments

The Circuit's investments are in monetary assets classified as basic financial instruments under FRS102 and are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. The valuations, at market value, are those provided by TMCP. The unrealised gains arising on investments are shown in the SOFA.

xv Debtors and Prepayments

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

xvi Creditors and Accruals

Creditors are initially recognised at settlement amount after any trade discounts, or the amount advanced to the Circuit. Creditors include both sundry expenses and specifically the 1st quarter assessment received in August.

Wigan Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

xvii Ministers’ manse costs

The Circuit is required to provide accommodation for each minister in the Circuit and their families and this is seen as a benefit to the Circuit. Ministers are expected to occupy the manse provided for them. The Circuit bears the cost of repairs, maintenance, buildings insurance, Council Tax and water charges. These figures are not separately disclosed as benefits-in-kind for ministers as HMRC does not seek to tax these receipts in the hands of minsters.

2. Capital Receipts

There were three closed churches sold during the year 2023-24. Gidlow, Trinity and Worsley Mesnes. All sales of Methodist property are subject to a levy by the Connexion calculated on a sliding scale based on the gross sale price. The figure is shown net of this CPF Levy. No property was sold during 2022-23.

roperty was sold during 2022-23.
	General Fund (Unrestricted)	Circuit Model Trust (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Total 2023-24
	£	£	£	£	£
Gross sale (Trinity)		189,893			189,893
CPF Levy on property sales		(51,957)			(51,957)
Gross sale (Worsley Mesnes)		214,780			214,780
CPF Levy on property sales		(61,912)			(61,912)
Gross sale (Gidlow)		221,801			221,801
CPF Levy on property sales		(64,721)			(64,721)
Total		447,884			447,884

3. Other charitable income

	General Fund (Unrestricted)	Circuit Model Trust (Unrestricted)	Restricted Funds	Total 2023-24	Total 2022-23
	£	£	£	£	£
Layworker salary recharges	5,668			5,668	6,162
Pension reserve refund		5,000		5,000
Youth and childrens work layworker salary recharges			12,000	12,000	7,615
Total	5,668	447,884	12,000	447,884	13,777

Wigan Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

4. Staf Costs

Staff Costs paid during the year were:
	Ministers
	(trustees)	Lay staff	2023/24	2022/23
£	£	£	£	£
Stipends, salaries and benefits in kind	119,840	24,284	144,124	135,904
Social security costs	11,517	395	11,912	11,341
Pension costs	31,247	0	31,247	29,315
Apprenticeship levy	599	122	721	689
Total staff costs
	163,203	24,801	188,004	177,250

Expenses (Travel, accommodation and other expenses incurred in the
normal course of employment)	8,660	162	8,822	4,069

Average number of full-time equivalent employees in the year were:	4.0	1.2	5.2	5.9

No employee received remuneration amounting to more than £60,000 in either year.

Wages and salary costs includes £nil in respect of redundancy payments in 2024 (2023: £nil).

5. Trustees’ remuneraton and expenses

5. Trustees’ remuneraton and expenses
	2023/24 £	2022/23 £
Payments made to trustees for additonal services provided to the Circuit byagreement with the Circuit Meetng	0	0
Number of trustees who werepaid expenses relatngto trustee dutes	0	0
Total amountpaid	0	0
There were no trustees' remuneraton or other benefts for the year ended 31 August 2024 or the year ended 31 August 2023 other than thatpaid to ministers and laystaf in the normal course of their dutes and disclosed above.

6. Fees for examinaton or audit of the accounts

6. Fees for examinaton or audit of the accounts
	2023/24 £	2022/23 £
Independent examiner’s or auditors' fees for reportng on the accounts	1,400	1,850
Other fees (eg: advice, accountancy services) paid to the independent examiner or auditor	-	-
Total	1,400	1,850

Wigan Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

7. Property Disposals/Revaluatons

The net gains or losses are detailed below. During the year and in accordance with note 1.xiii (Tangible fixed assets) the residential properties have been revalued to fair value determined by the trustees.

Worsley, Trinity and Blackrod are closed churches that have a fair value based on the professional valuation performed by Lambert Smith Hampton in July 2023. Trinity and Worsley churches were sold during the year, along with Gidlow. Blackrod has been transferred to current assets in the year, accounted for as assets held for sale due to the impending sale.

Details	2022-23 Fair Value	Sale	2023-24 Fair Value	Gain/(loss)
	£	£	£	£
WorsleyMesnes – unrealised	155,000	152,868	-	(155,000)
Trinity– unrealised	210,000	137,936	-	(210,000)
Highfeld Drive – unrealised	416,588		428,251	11,663
Masefeld Ave – unrealised	287,591		295,815	8,224
Upholland Road – unrealised	241,406		258,460	17,054
Bolton Road – unrealised	281,852		293,713	11,861
Wigan Road – unrealised	311,418		320,241	8,823
Spencer Road - unrealised	385,061		395,872	10,811
Blackrod – unrealised	200,000		-	(80,000)
Gidlow	-	157,080	-	-
Total	2,488,916	447,884	1,992,352	(376,564)

8. Fixed Assets

Valuation Balance brought forward Additions Revaluations (+/-) Disposals (-) Transfers * (+/-) Balance carried forward Accumulated depreciation Balance brought forward Depreciation charge for year (-) Revaluations (+/-) Disposals (-) Transfers* (+/-)	Manses occupied by ministers £	Total £

	1,297,449	1,297,449

	40,571	40,571


	1,338,020	1,338,020

	0	0
		0
		0
		0
		0

Wigan Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

	0	0
Net book value 1,297,449 1,297,449 1,338,020 1,338,020
	1,297,449	1,297,449
	1,338,020	1,338,020

The fair value of the manses includes the land on which they are built, and their internal contents.

9. Investment Propertes

Investment Propertes
Fair Value Balance brought forward Additions Revaluations (+/-) Disposals (-) Transfers * (+/-) Balance carried forward Brought forward Carried forward	Manses (held as investment properties) £	Church buildings (held as investment properties) £	Total £

	626,467	565,000	1,191,467

	27,865	(80,000)	(52,135)
		(365,000)	(365,000)
		(120,000)	(120,000)
	654,332	-	654,332

	626,467	565,000	1,191,467
	654,332	-	654,332

The fair value of the manses and church buildings includes the land on which they are built, and their internal contents.

The fair value of the manses held for earning rentals are determine by the trustees, based on insurance valuations, taking into account 15% for site clearance costs.

The one closed church (Blackrod) has a fair value of £200,000 based on the professional valuation performed by Lambert Smith Hampton in July 2023. This is then shown in the accounts net of the estimated CPF Levy applied by the Connexion which is calculated on a sliding scale based on the gross sale price. This has been transferred to current assets in the year, accounted for as assets held for sale due to the impending sale.

10. Analysis of debtors

Due within one year	2023/24 £	2022/23 £
Trade debtors	11,600	8,000
Prepayments	16,175	17,685
Total	27,775	25,685

Wigan Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2024

11. Analysis of creditors

Amounts failing due within one year	2023/24 £	2022/23 £
Trade Creditors	21,258	275
Other Creditors	1,805	2,222
Prepaid Assessments	2,212	3,469
Total	25,275	5,966

12. Detailed analysis of individual fund movements

Unrestricted Funds

Unrestricted Fund Name	Opening Balance	Incoming Resources	Resources Expended	Transfers & Reclassification	Gain/(losses)	Closing Balance	Purpose of the fund

General	2,509,975	222,713	(311,137)	101,755	(376,564)	2,146,742	The general purposes of the Circuit
Model Trust Fund (unrestricted)	155,585	310,690	(30,722)	(121,000)	194	314,747	Support for the mission of the Circuit
Model Trust Fund (designated) Designated - Closed Churches Totals	-	157,080	(20,000)	-	-	137,080	Designated for the maintenance of closed churches prior to repurposing or sale
	(11,033)	18,375	(26,587)	19,245		-	Designated for the maintenance of closed churches prior to repurposingor sale
	2,654,527	708,858	(388,446)	-	(376,370)	2,598,569

Restricted Funds

Restricted Fund Name	Opening Balance	Incoming Resources	Resources Expended	Closing Balance	Purpose of the fund
Aspull School	165	9	0	174	Support for Aspull School
Childrens & Youth Work	22,685	12,000	(12,412)	22,273	Available for funding outreach and development work focussed on children and youth
John Tapp – Blackrod	-	20,000	(1,013)	18,987	Restricted for the maintenance of closed churches prior to repurposing or sale
Totals	22,850	32,009	(13,425)	41,434

Prior year comparatves for detailed analysis of individual fund movements

Unrestricted Funds

Wigan Methodist Circuit

				Wigan Methodist Circuit	Wigan Methodist Circuit	Wigan Methodist Circuit	Wigan Methodist Circuit	Wigan Methodist Circuit
				Notes to the Accounts for the Year Ended 31 August 2024
Unrestricted Fund Name	Opening Balance	Incoming Resources	Resources Expended		Transfers & Reclassification	Gain/(losses)	Closing Balance	Purpose of the fund

General	2,859,486	201,014	(273,034)		305,000	(582,491)	2,509,975	The general purposes of the Circuit
Model Trust Fund	266,086	6,575	(11,964)		(105,000)	(112)	155,585	Support for the mission of the Circuit
Designated - Closed Churches	18,831	5,300	(37,882)		2,718		(11,033)	Designated for the maintenance of closed churches prior to repurposing or sale
Designated - Manse maintenance	-	8,250	(8,250)				-	Designated for the maintenance of occupied manses
Totals	3,144,403	221,139	(331,130)		202,718	(582,603)	2,654,527

Prior year comparatves for detailed analysis of individual fund movements (contnued)

Restricted Funds

Restricted Fund Name	Opening Balance	Incoming Resources	Resources Expended	Closing Balance	Purpose of the fund
Aspull School	160	5	0	165	Support for Aspull School
Childrens & Youth Work	26,822	9,155	(13,292)	22,685	Available for funding outreach and development work focussed on children and youth
Totals	26,982	9,160	(13,292)	22,850

13. Analysis of net assets between funds

Fund balances at 31 August 2024 are represented by:

	General Fund (Unrestricted)	Circuit Model Trust (Unrestricted)	Designated Funds (unrestricted)	Restricted Funds	Total 2023-24
	£	£	£	£	£
Tangible fixed assets	1,992,352				1,992,352
Current assets	179,665	451,827	-	41,434	672,926
Current liabilities	(25,275)				(25,275)
Total	2,146,742	451,827	-	41,434	2,640,003

14. Related party transactons

During the year the Circuit received assessment income totalling £188,656 (2023: £166,570) from the various churches within the Circuit.

The Circuit also incurred assessment costs of £62,099 (2023: £67,187) payable to the District.

Report of the Independent Examiners To the Trustees of Wigan Methodist Circuit

I report to the charity trustees on my examination of the accounts of Wigan Methodist Circuit for the year ended 31[st] August 2024 which are set out on pages 7 – 16.

Responsibilites and basis of report

As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 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 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
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.

Leanne Nield ACA Arc Accountancy Solutions Limited 51 Laverton Road Lytham St. Annes Lancashire FY8 1EN

Date: ...........................................