THE METHODIST CHURCH SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT AND ACCOUNTS for the year ended 31 August 2024 Regist•red Charity number 1139091
SHROPSHIRE & MARCHES METHODIST CIRCUIT coNTErS Pag Admlni5tratlve knformation Twstees, Annual Report 10. Stalement of Trustees, Responsibilities 11. Auditor's Report 14. Statemenl of Flnanclal Acllvitks 15. cornpare Slalement of Flnandal ActlvMs Balance Sheet 17. Cash Flow Statement 18. Notes to the FinafKial Statements
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 ADMINISTrATIVE INFORMATION Regislered Chwity Reglstr8lion number 1139091 Presbyters Hall. Rev'd. H Richard - Arnold. Rewd Paul - Cooper, Revd Shalome M "" Hargreaves, Rev'd Denise (from 1.9.23) Heinz, Rwd Geotge Hides, Revd Roger (until 31.8.24) Skitt, Rev'd Julia"" Summers Rerfd P (frorn 31.8.24} Wlndsor- Hide5, Deacon S. (until 31.8.24) Woodley, Deacon G. Ca Circuit Stewards Davks. Mrs A Davies. Mrs Lynn8 (until 31.724) Evans. Mrs N C" Gwalkin. John B Hallworth. B Hamllton- Fo. R W (until 31.7.24) Harlingion. David ' (until 24.8.24) Knowles. Mr5 V A". Threadgold, A (from 30.8.24} Clrcult Treasurer Eccleshall, Mr David ' Other Trustees BaGhe, Mrs J Bajllss. G Mr Birch. Mrs Jean (from 30.1.24) Blseker, Rev'd Frances C Blanchard. Mr J. Bradley Ms Lynne Brlohlwell, N Mr Burnham, Mr Paul Carfv4Tight, kn G Chesworth. Rev'd J Chldlow, Mlss J Cockayne, Mrs A C curtis. Mrs Christlne A (until 7.4.24) Curtis. Mr David (until 7.4.24) Davies. Mrs Dorothy Dorsett. Mrs J Dutton Mr A D Dutton. Mr David C. Edlinglon. Mr Kerfh E6war(Is. Mr5 P A Faulkner. MT5 Chrlstine Finnigan. Mr R (until 8.7.24) Gibbon. Mrs J P Gilbride Mrs Linda Gwalkin, Mr David B Gwatkin, Mrs Jean Hallworth. Mr Michael J. Harmer, Mr Philip W Harrlson-Koring Mrs R Heyes, Mrs Zena Haward, Mrs Cherry Heard. Mr NhOlaS Heard, Mrs Susa HolEoway. Mrs E E (until 12.4.24) HolL Mrs Heather M. Huband, Rev'd. William Jacks(, Mrs June Jenrbings, Mr C P Johnson. Mr Paul Jones. Mrs Dilys Jones, Mr Haydn {dece8sed) Jones, Mi J C Jones, Mrs Sylvia M Kennett, Mr Christopher Kennett. Mrs IAary Ksnick. Mrs R Y Knlght, Mrs E R Knight, Mr M LammFe. Mrs Susan L8ighton, Mrs Vl¢toria Lewis, Mrs E A Lewis, Mrs Sandra M Littlehales, Ms V J Maclnally, Rev'd S Maskell, Mrs Ruth Malhews, Miss Susan - Moores, Mrs L Morrison. Mrs Patrlcla Norris, Mrs Beth A (until 19.3.24) O'connell. Ms S lknn& Mrs Lynne P Pthrd Rev'd D Pilchford Miss L M Price. Miss Heather G. Pritchard. Mrs Catherine M Priichard. Mrs E Rees. Miss M Richardson. Rev'd Neil Roberts. hlr Barry Roberts, Mrs Doris Salmon. Mrs H H Schofield, Mlss J Sheehy. Mrs V spherd. Mrs HeathBr Smith, Davld Mr Snow. Mrs Beryl Taylor. Mr8 S Thomas, Mr Slephen Thomas, Mrs Vivienne TIKeadgold, Mrs A (from 30.8.24} Turner. Mrs M C Vaughan. Mrs Ju(5iih { from 28.7.24)
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Watt5, Mrs H E {unllt 24.8.24) Weller. Mr8 Olwen White Mr Henry E G Wilford, Mrs B Wllllams, Mr Adrian J" Wllllams, Mr8 Jean William8. Mrs Jo>re Williams, Mr$ S E Wllson, Mrs J Wlse, Mrs Barbara Wood. Mr5 Margaret O. Wright Mr& E Margarel Wrlghl Mrs M Tru8tft appolnted aft•r 31 August 2Iy24 Evans, Mrs E J (from 11.9.24) Shropshlre and Marches Methodist CircvlL The Methodist Centre, LansthMry* Road, Bay51on Hill, Shrew8bury. SY3 twz Governing Do¢ument Deed of Unlon (1932) and Methodlst Church Act (1976) The cIrSt 18 the prlmary unlt wrfthln the Method5st Church In which Local churc express and experlence thelr Irtsr¢onn8xlon In the Body of ChrlsL for purposes of mlsslon, muiual encUragernen1 and help. It Ss constituted in accordance wlth Slandlry Orders set down In the Consljtullonal Practlce & Discipline of the Methodlst Church IC P D] that is UFKlaled eath year by the Method18t CoTrference. The full C P D is 8vallable to view on the maldISt Chwch website via thè folowln9 Ilnk. htyJlwww.melhodist.org.ukffor<hurcheslgovemancelcpd. The Clrcuit Meetlng Is the appointed authority for the management of the Clrcult and ils con8tilulion and composition 1$ dSct8ted by the terms latd dOTr In Standing Orders wFthln the C P D. The bas on wh ChuTches Bre represented by Tru$lee8 Is there too and the process ensures that each has a voice. The meefjrvJ Is chalred by the Superlnlendent Minister who is effe¢tively tha Chlef Exacutlve Officer of the Clrcull. The basis of declslon maklng within the Cirlt Meetlng Is set down within the C P D. The day to day operatlon ol the Circuh Is delegated to an Execut6 Commlttee vthlch Is also chalred by the SuperfnterKlent Mlnlster. Thls Commlttee is eonstiiuled in a way that allows repre8entatlon from Presbyleral and Lay indlvkluels who are also drawn from across th8 c(11t geographically. The memr5 of this Commtttee have been Klenllfiad In tM lisl of Tne8$ that appears earlier in Ihts document. Shwld advke and guldan¢e required this is available within the Connexlonal structure of the Methodist Church either from the Wolverhampton & Shrewsbury Dlstflct or from the eentral Connexlonal Offices Offtials. Where It Is appropriate and necessary ference Is made to qualffied Professlonals. Flnanclal and legal guldance Is, where required, also available from th8 Central Finance Bowd of Ihe Methodlst Clwrth and tho Trusi•es for Methodlst Church rpOseS.
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 REPORT OF THE TRUSTEES The trustees present their annual report and financial statements for the charity fi)r the year ended 31 st August 2024. The financi81 statements have been prepared in accoTdance wllh the accounting policies set out in note 1 to the accounts and comply wilh the charity's trust deed, the Charities Act 2011 and 'Accounting and Reporting by Charities: Slatement of Recommended PraGtiGe applicable to charities preparing theif awounls in accordance wlth the Financial Reporting Standard epplbcable In the UK and Republic of Ireland (FRS102)" (as atnended for accounting periods commencing from 1 January 2019). STRUCTURE GOVERNANCE AND MANA MEMT Shropshire & Marches Methodist Ctrcuit s an unlncorporaled charity, registered with the Charlty Commission. Trustees are not'recruiled, in the generally accepted sense. They are appointed to the Cffcuit Meeling in acGordance wth the requirements set down in the G P D. These indude the basis on whiGh each Church 15 represented at the Circuit Meeting. Whllst rK) formal tralnlng is in place the responsibilities of Trustees undertaking the role is communlcated to them when they ar8 first appointed. They have access to The Methodist Church webslte via https:IlwNThi.methodist.org.ukifor<hurchesloffice-holderslm8nagin truslees. This sile Is updated regularly. In additlon Trustees are able to vlew varFOUS Charty Commlssion documents through the foHowlng links: https:IlvMbii.gov.ukJgovernMenVpubll¢ationslthee$seThl1aI4rustee-what-yoU-need-tO-kn0wlc3hh9- essentlal-trustefrwhal-you-need-tO-know-what-y)u-need-Io- do & htipS:Ilww.ch8ritygovemancede.o@en OBJECTS OF THE CHARITY The purposes of the Methodlst Church are and shall be deerned to haye been slnc8 the date of Union the advancement of - (a) the Chrl8tian faith In 8cwrdance wrth the do¢trlnal slandarils and Ihe discipline of thg M?Ihodist any charitable purpose for tho lime belng of Sny Connexlonal, ¢Jislrict, clrcuil, lo¢al or other organlsation of Ihe Methodist Chwch ' any charitable purpose for the time being of any society or Inslitution subsidiary or anci118ry io the Melhodlst Church ' (d) any purpose for the lime being of any Charity being a charlty subsidlary or anclllary to the Methodist Church. (b) {¢) EVIEW OF In des(gning and monitoring Ihe Charity's activities, the Trustees have paid due regard to Ihe Charity Commission's guidance on public benefit. The revlew of activities in the following sectiorns dernonstrates how Ihe Charity has provided benefit directly to the individual churches in the Circuit and thereby to Ihe congregatlons of those churGh8S and other sections of the community in the area. Goneral Revlaw The accounts presented in this Annual Report ar8 very indicative of the challenging circumstances faced by Shropshire and Marches Melhodlst Circuii. In common wlh many other religious and voluntsry organisations. we are facing some very challenging cultural shtfts in our soclety, further exacerbaled by the effecls of the COVID-19 pandemic and the subsequent C4)st of living crisis. W8 cannot expect to be immune from th8 change5 that these shifts are bringing. not leasl the decline in regular attendance al Chrisllan wor6hlp In Britgin. However, the ac¢ounts are not whole story. We remain coftvirKed that the Chrisllan gospel is of value tc our culture and we wlll continue lo seek new ways of sharing Ihat 9ospel in the ¢ommunltles wherè we operate. Shropshlre 2nd Marches continues lo be the larg88t CKcuit wlthln tho Wolverh8rnplon & Shr8wsbury District of the Methodlst Church In Brltain. coverln9 one Ihlrd of Its geographical area. fher8 are over 50
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Methodi8t congregations gathered under the Ctrcult umbrella and thls gWraphIr diversity provides opportunty and coThplexlty. There can be no doubt thal the Met1di8ts of Shropshffe and marc1$ have been stronger together. Our combined numbers and firk3rKial re80ur¢ss have enabled us to maintsln 8 Christian wllness in scatlered wral communilies thatwould have been Impos8ble olwwlse. On the otPRr hand. it Is rt alwayB easy for a small ¢ongregatlon at one ènd of the cir(lt to trove In mlnd the sliualion of other congregations Ylhich might be more than So mlle$ from tktEfS. Thls has been mltwed by recent tixpernn of meeting electronlcally. but nOrtheleSS li cortinues to be an issue. Ttft local churche5 continue tr) provide programmes of worshlp. p8sloral care and cornmunfty Involvemenl undet the lèadership of Ministers. lay employees and local Church TNstees. rcuit Staff Rev Denlse Hgreaves Jolned the Circuit in Seplember 2023 from the Gloueestershlre Clrcutt. Her rural exp8rience in Ihe Forest of Dean has been appreclated as 8he sottle8 In the Ludow area. The appoinlment of Mr. Andrew Skiit to coordinate the work of th¢'Methodist Mobile Outr•ath" {'Memo") was noted In the lasl Annual Report. Thls WOTk was formally laun¢td In September 2023 and durkng Ihe course of the year the trailer has been laken to a variety of rural shows and evertsi predornIn but not exdu8lvdy in Ihe northem part of Ihe Clr¢ul. Th5$ mlgsion Is a modern lake tho kirKI of evaThJellsm that VUld have been familiar to the Methodist peopk of formw tlmes, not relrn9 on bulldlrYJs but golng to ere people are. The traller provides a srnall, Mlkequlpped meeting space that can be used lor varlety of dlfferent purposes and ev8nts. The Superintendent Mlnister exercises leadershlp for ts whole Circuit working ith In a collaborative ministy. H6 ov¢rs¢es the wkler wwk of the Circuit by chairing meetlng8 8(*088 Ihe Circuil and instigating gattBrfngs for cOrUllation, trainhg and fellowship for the wlM)le steff ar#1 leadeTshlp. Respondlng to ¢hang¢ DurtNJ the year, the Circurl committod Ihe churches in Shropshire and Marches to come into full ccvnpliance vlth wr Standlng Orders In terms of M1muM size. By September 2024 most have been able to achleve thls. Dectslons about how lo respond to the few who have not 11 b8 lakefi dwin9 th8 first part of the current year. We have continued to offer a weekty onllne vffjrship experlence and thls has Ixcaslorkglty been used by local church8s lo supplement the preachlrvJ plan. This WHI bernme Inry¢aslngly Irnprta ff the number ¢f avalab16 praachars continues lo decline through age and infirnity. However, we contirwe to slruggle wilh technic81 issues, some of which are be)nd our contrd. The avalablltty of mobile internet in some ral areas is a major hurdle lo progress. Many meetirwJ$ would formefly have been held onty "in person. are now bolng hekl on ts Zoom plafform, tw)th for the sake of widenlng partlclpatlon and decreaslng the carbon footprlnt of the Ctrculvs 8CtlvlUe8. We continue to face the signifrAnt demogrnphic chalthge of being an ageiThJ communty in thinty spread rur81 areas. But demOornphl are not Ito full story any more than ow a¢cwnts . New patterns of mknlsty- e.g Ihe team approach b8lrKJ mrthlled In Ihe Tr)rth of the Circuli- and n8w models of church wlll 1P us to address thls challenm but we know that we cannol organ188 or manage our way out of these diffKaJlt eAr¢umstancès. We Are miidful of the dulles 8fKI responsiblltties which are determird by our role as trustees of a charltable body. But ourfijndamental convlctlon Is that the Vllk of G(xJ depend8 upon INS grasx and hls strength, rnt ours. We are Ilvlng In a tlme when following call of God is Th)1 easy. So be il. We (xynmlt ourselves to hls servl¢e and trusl in his faithfulness. FNANCIAL R PORT The overall posltlon reveals a net def11 of£221.$87 and Ihis shorttall has been Covered bytr8nsfers from the Circul Model Trust Fund of £ 223,8XI.
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Income from Churches by way of assessmentwas only e 20/0 short of the budg8t but translers from ClreuS1 Model Trust Fund were somewhal more than budgeled principally to cover costs incurred ill conneciion with properties in the course of being sord. The amounts Involved will be recovered from the net proceeds of saè. Clrcuit Modèl Trust Fund. The fund has benefited from the disposal of seven Properties during the ye8r. The nel pr(Keeds am(iunted to c £ 1.1 m from whrch was deducted the Connexional L8Vy toialling £ 290.476. This left c £ 810.000 avallable to the Circult for Its ongoing work. Tran5f8rs lotalling £ 223.850 have been made to the Clrcurt to cover certain splfiC costs and to provide general support. The annual District levy based on the balance held at the beglnning of the year has been paid £21.469 (2023 - £22.616). This payrnent is our direct contribulion to Ihe Vrk of the District and is used wlth allotted Connextonal funds to provide grant support to Churches and Circuits within the District for approved projects. This Circuit received no grants during ts year frorn the DislriGt12023- £ 12,850). A payment of £ 20.OQQ {2023-£10.000) has bo rnade to th8 Distrld as a contrlbulion tothe employinent Costs of the Distrtct Agricultural Chaplain who is b2sed within Ibe Circuit. Grants made avallable to Churches are specified in Note 10 of thè Accounts. The dosing value of £ 956,337 Is held as a reserve for the future work and dgvelopment of the Circuik as indrate(i In the Resen4e Pollcy Statempnl. Endowmert Funds. Only minlmal aclivity has occurred on these funds dLtring the year In accordance with the inbullt restrrtions Over Although the urKlérlying financial posltlon remalns sound, It ¢onlinues lo be necessary to support the ongoing work of the Circuit frorn reserves. The challenge of balancing the cost of provldlng MTnisterial leadership across Such a wide geographical are8 rythin which are many small chapels aNJ churches is immense. Fresh approaches sre con8tsntly being consldered and ImplemeDled where potenlial is Identrfd. It Is the case that all our Cfwrches find il increasingly more difficull to balance their books. Propertie5 - Manses and Tedundant Churches - continue lo be sold as opportunities arise and the proceeds provide Ihe wherewithal lo mainlain a 5ignrficant involvement in the malnly rural communities that make up the Circuit. Executiv8 Committee is Gonstanlly aware of the need to manag8 the financial posilion in a posilive but careful manner thus seeking to ensure that the future wwk of this Method1 Church is nctyt in doubt. Our aim 15 twofold: To secure and sustain the CKcuit's viability and fijture. To gNe reassurance to the general publi¢ thal the Circuil, thich is a charlty, intends to use all of Ihe money coming into Its care for the purposes of the charlty.
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 PROCESS Ml$$lon Poll A revised Mission Policy wa$ approved by the ClrGuIt fvleellry on 20 June 2022. It reads as follo. 'Our mission Is to love the Lord our God wllh all our heart, soul aTKI mlnd. and lo love our nei9hbour as oursefve5 by the poww of the Holy Spbtt In our large arKI Yural communSty. Wth God's [p w• ain to: b8 avre of tl diFfering needs of all our corvJre9atlons and be prepared to adapt In order to offer mutual rxjrture and support b8 aware of the reds of our Mulisters. Lay workers and Local preachers encourage them In thdr callirwJ and mlsslon be avrdre of the needs of our kKal neighbourhoods and be wltnesses for Jesus Christ wittrlln them acp1 our tesponsibllity towards Ihe natural wurtd by c(msciously caring for God's creatkx) be v¢)cal In our ry)mmilmenl to irKausivity, en8urtrKJ ourthurches are places kn all arewelcomo regardless of gender. race. sexuallty, or any olher issue h1¢h mlghl be CA)nsldered a barrler So that may ute as a Circult in enabllng the rnhlp of God, and be a loving, effethe and corotsnliy evolving Methodtst presence in our communities., Flnan¢lal Plan8. The Cknuit Assessment requlred to be paid by the irnlmdual Churches Is revlewed annualy and the income generated covers a good proportkni of the costs of the Cirojil. The contribution made by 88ch clmjrch is arrived at by having regard to the overall slzfr of fts membership and its abilty to pay. We make Fyovision for g propety m8intenance programme for tl Nlansès ortupled by Ihè Mlnlster5 by deslgn811ng a sum agreed by the CircuEt Meetlr¥J exh year for th[8 purpose. We also have regard lo the longer temi rttd arising frThn lotsl Inspectlons and Qulwuennial reports and wher8 nec&8sary provide additKin81 funds for these identified purposes. Circuh Fund (Unrèstrlcied General Fund). Balance at the ren exduding property and plant & machknery wa5 £534.112 altlK)ugh Ihis balance does includo c £175,000 proceeds from a ProTty sale that IB held in suspense at the moment tsee Note 21]. UrKler Standng Orders Ihe cir11 must meet its flnandal obligatlons in relatbn lo the support of #s Minlsters and Ihe malntenance of the manses. Total costs for Ihe188t finala1 >*ar we in the region of £700.000. Thg Reserves Policy is lo hold equr¥alent of at least six rnonlhs, expenditure In hand l.e. £ 380.00tr 80 present fwre maets that crilerlon. Wllhln Ihe cIr&t there are a large number of smaller Churches many of vthom we Strug1ng to meet their financial Ol98t10nS IndudSng thelr commitment lo lfCUlt finances. This sltuatlon klaces ¢ontirnlng pressure on the Circult and. as Y6 evklent from Accounts a Pjubslantlal transfer tias b8en r8quirad from reserves again to counter an opwating shoruall. This position Is conslantly under revlew.
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Ire It Model Trust Fund The value al Ihe yearend was £ 966,337 (2023: £ 404,717). This fund derives from sales of ¢hur¢hes and chapels and other property and whereas this used lo be a restrfcted fund it is now unreslricted, Although the fund can be used for a vadety of purposes there are guidelinès set down by the Connexion that need lo be respected as well as the principles agreed by the Circuit Me8tlng. Reserves Pg11 Our Reserves Policy relates to our general (unrestricted) funds which are ffeely available to be uséd for any or 811 of the wrposes of the Circuit. Other funds are also Included for the sake of clarity and openness and to show Ihat the Circuit has a policy fly the management of all its money not simply those which are defined as reserves. Th8 Charlty Commission has agreed that It is appropriate for the Truslees to sel a policy for the management ol Ihls fund and that poll¢y is sel out below: A propordon of the rnoney held in the CMTF has been earm8rked by the Tnjstees for the fdlowlng purposes.. Contributlon to the eMploent costs of lay employees within the Circull of £ 51,250 for 2024125. General sUPPOrt of Cirwit actlvities whilst it continues lis ongoing review of Ihe way in whith its presbyiers, lay workers and members pursue Its mlsslon FM)Ilcy. £200.000 is th8 budgete¢ amount for 2024125 with a continuing recognition that support at this 18vel and beyond canrt be suslained indefinltely. Circuit Meeting has F*ovided fin8ncial supporl lo the Dl8lri¢l for a number of years as conlributlon towards the employment costs of Ihe Agricultural Chaplalncy. A contrlbution of £ 20.000 has been made in 2023124 and a commltment (agreed by Clrcult Meeting) is in place lo Increase this in line wlth infflation In 2024125. In principle support in 2025126 Is expecled lo be upraled in line wilh inflalion but with a review belng undertaken early in 2025 to consider Ihe future fundir¥J posilion wlth all the relevant parlners. Support for projects wlthin Individual churches - whether for property schemes or lor mission - based on the principle that only 100A of cosl PMII be PTovided by Ihe Circuit in the normal Course but18rger arnounls can be made available dependent upon the project detslls and Ihe underlying objecllves. The balance 15 maintalned to support the Clrcuil in achieving Its objedives. SESSMENT CMT The Trustees acknowledge Ihal there are areas of Risk within the Clrcuit. the principal ones belng ?s follobv5: Flnan¢lal Po8ftlon The CiKull continu8S to operate with a si¢Jnrficant shorifall Ih8t is counterbalanced by transfers from reserves. These are bo18tered from lime to Ilme byihe dlspogal of churthes and ¢hapels that have ceased to meet for worship and so have closed. At the end of the financial year there were 51 places of vll)rship wlthin the Clrcuit and of these 19 have less than 12 members. The majority are under increaslng finan¢lal pressure and so thelr conlribution lo the Circuil finan¢es Is precartously balanced especlally in the currenl dlfficull economic climate. It is also the case that the age profile of the membership is in¢reasing and this accelerates the existenli818nd financial vulnerablllly However, each Qf the Churcheslchapels has a value and so when dosed each of them realises at least a modest sum whlch t8nds to replenish reserves. As has been said many tlmes before, such a pollcy cannot be sustalned over the long temi. The members of the Executive Committe8 are constantly aware of this and continue to seek a solutlon thal could be the basis of grovrth In the future. Clrcull Trustees have met during the year to disats6 this
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 particular concern and the Execuli%e Committee Is charged with puttlrg together a coordinated plan f(Y nsId8d0n by Ihe Ciniit Meeti. Property- Directly. the Circul includes vrilhin its Annual Armunts the properties occupled by Its Ministers even though Ihe tltte is actually vested In the Trustees for M8lhodlst crCh Purposes. When Churches'cease to meef i.e.do not open for worship, responsibllity for thek maintenance reverts to the Circuit wtrthsl afratvJements are made for the property lo be sold. Whlst aknys suscepiA)k to the movement in the domestK property market. it is envbaged that iho ma]lty of operties'owned. vnll not be disposed of in the foreseeablefuture and so Ihe riskof loss of capital is not considered lo be grèat. S8feguaTdlng - The alm of Methodlst Church Safeguardlng pollcy is 'to ¢r Chrlsllan communltles of love and care, where good praclic8 in Ihis area become8 a way of life.. A handbook is made 8¥ailab18 lo each Church arKI Informalion Is dlsseminated through Di8trict8 and ¢tlts vla tralnlng and publlc@tlons. Each Church has a nomlnaled Safeguardlng Offker and a pollcy agreed by Its Clwrth Courdl. The Clrcuit has responslblllty for leW of the Churches lIhIn tts area. K•y po8itlor-Within the cIrli thor£ are key posltlor6 he by lay inembers of the Methodlst Church 0 act on a Volt unpald basis. Principal among these are CY¢uil Slewards who represent different geographical parts of the Circuit. a team d people who are responthle for overseeing all matters in conneclion wkn Clnwit propaty and the Circuil Treasurer who 18 ountable lo the ClrcuSt Meellng Twstees for all financlal matters rel8llng to the Circuil. The Executive Commill88 ts aware of Ihe dangers of having too much relian on any one indlvldual eilher for a snIfnI part of the work or for a period that is unreasonably lo. The Methcxylst Church policy is thal In the normal course no offKer should occupy a fty mor8 than six years and so successlon is an Issue lxnstanY urKler aThJ discusswjn. End¢)wment Funds. Al Ihe year end the following was the balan on these furKIs: EndowTnenl Funds. Indudlng TnK8ts domlctled wlth Trustees for Methodis1 Church Purposes £3.278 <2023." £3,043). The income arlsing on these furrfls and the capllal involved Is available only for the various pjrposes originally desigftaled.
SHROPSHIRE & MARCHES METHODIST CIRCUIT ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 STATEMENT OF TRUSTEES. RESPOfrISIBILITIES: The Ifustees are responslble for pparing the Twstees, Report and the flnancial statements In arKordance with applicable law and United Kingdom Accounting Standards including Flnanaa Reporiing Standard 102: The Financial Reporting Stsndard appIlble in the UK and Republlc of Ireld (United KIn10M Generslly ALYepted Accounling Pract1}. The law applicable to charities in Erylarnj & W81es requlres Ihe trustees lo prepare financial statements for each financial year which give a true arKI fair view of the stale of affairs of Ihe chwity and of the In(x)mlng resources and appIltion of resources of the charty for that yèar. In preparlng these flnancial statemenls, Ihe Inistees are requyed to: Select suitable aG¢wntsng polic*JS and apply Ihem consislently: observe the meihots and prindples in the Charlues SORP: make jud9ments and accountlng estlmates that are reasorpble and prudent. slate whether applicable accotmting stsr)dards have been followed, subject to any material departures disclosed and expialned in the flnancl81 ststem8nts. and prepare the fjnanclel statements on the going concern b8Si5 unless It Is Inapproprlate to presume th81 the ch8rly vkll ¢ontlnue In operation. The trustees are responsible for maintaining proper accounllng records which disclose wlth reasonable accuracy at any tlme the finandal positlon of th8 charlty arKI enable Ihem lo enswe thal the financlal stat8ments comtAy with the Charities Act 2011. the Charity (Accounts and Reports) Regulations 2008 and the provigions of the trust deetJl¢onstitulton. They are also reSnSIble for safeguarding the assets of Ihe rty and hence lor taking reasonable steps kn Ihe prev8ntk>n and deteGlion of fr8u¢ and olher IegUlarIties. The trustees. report was approved by the Board of Trustees. Rgv H Rlchard Hall SupoTlntendent Mlnlster )"b> io
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF SHROPSHIRE & MARCHES METHODIST CIRCUIT IN RESPECT OF THE YEAR TO 31 AUGUST 2024 Oplnlon We have audited the financial statements of Shropshlre & Marches Methodisl Circuit (the °Charlty") for Ihe yEar ended 31 Augu312024 whlch comprlse Ihe Statement of Financlal Actlyllles, the Balance sheet. the Slatemenl of Cash ftows and the notes lo the financial slatemenls IncludlrvJ a sumrnary of sIgnifan{ accounting policies. The finandal reportlro framework thal has teen applled In tslr eparatton 15 applicable law and Uniled Kingdom ACcCtIr¥a Standards. Incluthng Financial Reporting Standard 102: The Fln8nci81 Reporting Standard app1[ble in UK and Republic of Ireland {Unlted Kingdom Generally Ac£epted Accwnting l>ractice). In our oplnlon. Ihe fln8nclal stalements: glve a true 81 fair vi8w of Ihe state of Charity's afPaits as at 31 August 2024 and of its Incomlng resources and 8ppli¢ation of r860urces the year then ended: have be8n prcyerly prepared in a[rdan wlth Unlted Ktrylom Generally Accepted Ac¢ounting Pracaic8; have been prepared In accordance with the requirements of the Chari118s Act 2011. Baslg for oplnlon We conducte(l our audli In accordan wlth International StsndaTds on Audllln9 (UK) (ISAS {UK)) and applkable law. Our responsibiliti8s under those standards are further desctl)ed in the Audilofs Tesponsil)ilitles for audit of the financial statanents sectlon of our rewt. We are Independenl of the Chty in accordance with the ethical requlrements that are relevant lo our audlt of the finandal stalements in the Uys including the FRC'S Ethical Standard, and we have fulfilled othèr athkal responslbilitles In a¢¢orden wilh t180 requlremonts. We belleve that the audlt evklence we have obtatned suffldenl and appropriate to provlde a basis for our oplnlon. Conclusions relatln9 to golng concern In audiling tho financial slatements, we have conduded that th8 trustees, use of the going cortarn basls of accounting in the preparation of financial statements ts approprlate. Based on the work we have perfornied. we have not Iderrttfd any ma181 urttrtalntle3 relating to eveTrts (Y conditlons thal. irKllvidually or cOneVY. may cast slgnificant doubl on the assqxaation's abilty lo continue as a going (x)ncem for a perrod of at leasl months from when financial 51atements are authorise(I for issue. Our responsibilities and the reSPDrtslbllitle5 of the tru51ees with res lo going concern are descrll)8d in the relevant %clions of this rep(xt. Other Inforniallon The Irustees are responsible for Ihe other Infomiation. The other information comprises Ihe infmiiali( induded in the annual report other than the financial statements and our auditorfs report thereon. Ir opinion on Ihe fwpncial statements does Tt cnver Ihe other infrKmatiLM and we do not express any form of aSSUr8r COls1on thereon. In connectlon th our audit of the financial slalem8nis, our responslblllty Is to read the other Infomiation and, In doing so. consider whether Ihe otkEr inft)rmatlan Is rnaterial inconsistent ryth the finartial Slatements or our kn(pAledge obtalned In the audil or olhervlse appw to be materlally mlsstated. If we Idenbfy such material incons1s15 or app8rent materkl mlsstatements. we are required to determine ¥¥fiethfjr there is 8 material misstatement in the financial statèments or a ma16rial mi$statèm•nl of the other inlormatton. If, based on the work we have performed, we c¥)nclude that Ihore Is 8 mater181 mrsststement of thls other Infomiallon, we are requtred lo report that fact. We have nothirvJ to report in this regard.
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF SHROPSHIRE & MARCHES METHODIST CIRCUIT IN RESPECT OF THE YEAR TO 31 AUGUST 2024 Matters on whl¢h we are r•qulr•d to roport by exc•pllon We have nothlng to report In respect of the fdlowing matters kn re181lon to vthlch the Charltles {Accounts and Reports) Regulatlons 2008 requlre us lo POrt to 5Ul1 In our opinlon.. the information givén In the financ1 stalemer*ts Is inconslstent in any malerial respect with the trustee5' report. or sufficient accountlng record5 have not been kept", or the financial statem8nls are not In agreement with the accountlng records; or we have not received all the infomiatk)n and explanations we require for our audlt. Resp¢)n8lbllities of tru8toes As explained more fully in the statement of trustees. re5ponsfoilities. the trustees ar8 responsi6 for the preparatton of the financial statements and for bel satIsd that they give a true and fair view, and for such internal control 8S they determlne is necessary to enable the preparation of ftnandal ststements Ihat are free from material misstatement, whether due to fraud or error. In preparing the fin?ncial statements. the trustees are responsible for 855essing the Charity's abllty to CAJntinue as a golng Concern. dlsclosing, as applicable, matters related to going concem an¢J usirKJ the golng concem basls of accounting unless Ihe truste95 either intend to cease operations, or have no reallstlc altsrnatlve but to do 80. Audltorfs respon$lbllltie8 for the audlt of the fknanclal statements We have been appointed as auditor WKler section 144 of Ihe Charltl8s Act 2011 and report In accordance with the Act and relevant regulations made or having effect Ihereunder. Our objectlves are to obtaln reasonable assurance aboul whelher the financial ststements as a whole 8re free frown material mlsstalemènl, whether due to fraud or error, and to issue an auditorfs ieport thot includes our Dplnion. Reasonable assurance Is a high18vel of 8$sur8n¢e, bul Is not a gu8r8ntee that an audit conducted in accordance wlh ISAS {Lll<) will always detett a material mlsstatement when it exlsts. Misststements can arise from fraud or emr and are considered maleri81 rf, indfvlduallyor in Ihe aggregate, Ihey could reasonabty be expected to Infvence the eC(ornIC decisipns of users tsk8n on the basb of these financlal Siatements, Irrngularltle•, includlng fraud, are Instances of non4offlplianc• wlth laws and regulatlons We deslgn procedures in Ilne with our responsibS1tties, oullined 8bove, lo detect materfal misstatemeTrts in respect of irregularltle5. including frdud. There were no al or regulalory frameworks Identified. The extent to which our prowlures are capable of detecting irregu13ri1ies, including fraud is detailed We gained an understanding of the legal and regulBtoryframework appllcable to the charity and the sector in which il operates, and considered the rlsk of acts by the charlty that were contrary to app}ible laws and regulations. Including fraud. We designed audit procedures to respond lo the risk. recogn5sing that the risk of not delectlng a materfal misstatement due lo fraud is higher than the risk of not detecting one resulting fram error, as fraud may involve deliberale concealment by. for example. forgery or Intentional misrepresentstions, or through collusion. We Issed on laws end regulations Gould give rise to a materlal misstatement in the financial statements, includlng. bul not Ilmited to, Charities Act 20114nd Accounting and Reporting by Charities SORP: FRS 102. Our tests Included agreelng Ihe financial stslement disdosures to underlying wpportlng documentatEon and enquiries wllh managemenl. 12
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF SHROPSHIRE & MARCHES METHODIST CIRCUIT IN RESPECT OF THE YEAR TO 31 AUGUST 2024 There are Inherent limitations in the audit wocedufes descrid above arK( the lurther removed non- Cornlance with laws arnl regulations is from the evenls and transactiorts rellecled in the financial stalements. the less Itkely we would become aware of it. As In all our audils. we a150 8ddre55ed the risk of Management override of internal controls, including tesling joumals and evaluating Nthelher Ihere was evldence of btss by tha truslees that rewesented a risk of malerlal mlsslatement due to fraud. We dtd not idenllfy any key audit malters rdati[ to irregular5tles, including fraLKb. A further d8scription of our resp(Ktslbilities for the wdkl of the finanGial slatements is located on the FinancBI Reporting Council's website al http:IlwMv.frc.org.uklauditorsresponsibllities. descriptton fomis part of our audiiorfs reporL Oth•r matt•rs Your 8ttenth)n Is drawn to tIN8 fact tt the chwity has preparèd flnanclal stalements In acenrd8n with "A¢countlng and Reportin9 by Charltles: Stalement of Recommended Praclice applkable to charhles preparlng thelr accounts In accordance wAh the Flnanclal R6pong Standard applIcale In the UK and Republlc of Ireland {FRS 102). (as amended) in Pleferera to iho AecwntirKJ and ReportirtyJ by Charities: Statement of Recornmend8d Practke issued on 1 Aprll 2005 which is referred to in the exlant regulaljons but has now been wthdram. Thls has been don8 In order for the financial statements to provKJe a true and fair view In accordance wlth ¢urrenl Generally Acceptsd ArnI¥¥j Praciice. U68 of our raport This report is made solely to the charity's Irustees, as a body, in accordan with part 4 of Chitles (Accounts and Reports) Regulatlons 2008. Our auditworf( has been undwtsken so that we might stale to the charItS trust8es those matters we are requir1 to slate to ttm in an audltora, retM)rt and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibilty to anyone other than the charty and the charifyes trustees as a body, for Lwr audit for this rep(rt or for the c)pinivns we have fiwmed. g1,ILol MRS STACEY LEA FCA DYKE YAXLEY LIMrrED CHARTERED ACCOUNTANTS AND STATufoRY AUDITORS 1 BRASSEY ROAD OLO POThS WAY SHREWSBURY SY3 7FA 13
SHROPSHIRE & MARCHES MEfHODIST CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 G•ner81 Fund (UnltrIct?d) Irwlt Mfjdèl Trnst Fund IVnr•$lrithd) R•8trl¢tÉd Funds Endowment Fund5 Totals thls year Totsls 2j Incom and endowments 6sesSmWrt or shar Capi181 recpts Interest and Inveslmenl Intx)me Grants Letting8 other Incom8 Total Incom• 417.924 417.Y24 1,106,989 56,908 441,840 327.735 37.475 17,686 17.084 24.890 866,710 1.106.203 31.400 25,416 7225 37.922 489.273 7.225 1.137.603 1.626,968 ure on ch8rttablfy scllvili85 Sllpend5. salories. NIC & Penslon costs DistrlGt &sse$8ment A(Imth, Telephon9 & fravel INsurèr¢È. UlS151i&s elc lAaInMon on Manses Exydliwe on ether Circu property oirwexpenditure Crnnts and tKJnalions Contrft)ultort io Llistrld Advance Fund Governance c051s Deweciat Total Ex 454,047 111.432 39.680 33,504 15,737 454,047 111,432 40.837 33.504 15,737 444.0)5 106,240 43,408 33.952 27,248 1.148 18,413 15.146 5.gCw) ia.413 15,229 345.876 10.265 21.374 109,260 83 10 339.978 21.469 21.469 6.000 22.616 6.000 11,001 710 13 dituro 92 1072.545 Net Incomel ex b)dlture 221.587 775.010 553.423 ranSfe between funLIs walue movernent Gains & losses on Invostments (unreallsI) Not Mov•m•nt in lund¥ 223,850 13.14.17 1797.OCKII 315,(lJO 235 235 14,209 551.620 Recondllatlon ot Fund$ otsl lund5 brought fffivard otsl funds ¢arrled foN4ard Qt •nd of 404.717 4.491,305 4,243 519 4 4DI 305 14
SHROPSHIRE & MARCHES METHODIST CIRCUIT COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023 O•nefJl Fwd Clr¢ult lkndel Tr1 Ftmd Fund¥ Assgssmnt or shwe Capltal receipts Int8T95t and Inv85tment Incom 441.840 502 18.144 17,686 17.084 24.890 520,1 441.840 327233 1&t37 37.475 17.686 LeMin9S (Xlw Incorne Tolal IA)m• 24.89D 860.710 246N70 Eyndllwe on clwitable 8ctlvilie8 salarfos. NIC & Perrion costs Dist1 866e6smert Admin, Tphone & Tovel lrnsurarte. Utllhle8 olc Marrtonance on Manses Ex[Ule on ijther 444.005 106240 42.207 33.952 27.248 106.240 43.408 1,IW2 27248 10265 21.289 27.074 10265 21.374 109260 Other eywdbture 85 10 82.186 ContTAbLrtk to fAstrfct Ath•arK Furxl 22,816 22..616 5.71 s248 11 T¢)lal Ex ndityre 105,9H ndilure 197.834 240h76 42.642 251688 13.14.17 315.000 31&1X(I Gains & loss on IrNestrmS (Unrearis) Net Mowmont In fwd¥ 5.597 36535T 287 13,499 135 135 1&0191 351.623 R•condllatlon of Fund8 Totsi broWI fopwwd Total fvnds ¢ath•d lomrd al end of 3,718,288 418,216 4.139.2 4,081545 404717 4.491.305 15
SHROPSHIRE & MARCHES METHODIST CIRCUIT BALANCE SHEET AS AT 31 AUGUST 2024 Gener¥1 Clr¢•l¢ Modbl YnlFUnd {UnrKIGtrrt> End+yfftnl Fw# Punds Tots 2Q23 yr Flxed Assets 13 13 14 15 1.871.792 1.871.792 2,151.792 45,001 610,000 35,833 2,842.626 aThJ Ma¢hlnary Pwkmies held as Investmant In¥e8lmen15 rlrtal Flxgd Asyets 21.426 1.V27.218 3.277 24.704 1.930.496 CuffoTrt A¥¥ets Debt8 and Pr8pE)rynenl8 rAntrdl Flnarte Boaftl 8f#J Tte5 for Mat5t Chwch PurF¥)ses dewjslts elc PropwU•s held for sal6 CaBh ot Bank and In Tolal Cumt A#ts 16 28.910 149.T14 178.684 35.527 563,927 844.000 11.125 861.312 1.425239 844.000 11.125 953,920 751,(XIO 17 Uablnueo CredIto faili dua w6tNn on6 ear 18 91275 64750 146.025 96,430 CuryeDt As8•ts 9x337 Totsl JsBet8 less Cufrnnt Ilabifitl¢s S28305 956.337 3378 519 4N91 Funds of the chaTI G8nerdl FuTrJ (UnrestriGtÈd) Clrcuit Model TrLt FWKI (Lknrestricted) othgr furMJ5 IR95tr1cled) ET¥Jowment Funds Total Fwids 19 19 lg 19 3283.905 &283.905 956.337 95&337 1278 3,278 3278 4 243 519 3.043 4,49fJ05 3.283.90S 337 The acco1$ on Peoes 1410 25 approved ty th? Boar(l of Trusts95 8rn1 si8d on Iholr behalf by: 0.1:..(i R•Y H Rlchwd HaH Suwtht•nd•nt Mlnl8t•r D•vld Eeolethall Clrcult Trea•urnr 16
SHROPSHIRE & MARCHES METhODIST CIRCUIT STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2023 Net ca¥h Iu8ed) I gengratod In op•r#tlng a¢dvltl¢$ 1.157 Interost ¥rLI dlddonds Rrfetpts from sale of tangible ffxed assets F¥yments from purchas801 tanglble 8ss8ts 56.gfrB 1,106.989 37.475 327.735 {4S.Cth} Net ¢ash wovld•d by Invthlng actlvS11è8 1.103ml 320809 ChAng• In cth and ¢ash 4ulvahnts in th• yo•r 4658 Cash wxl Ga5h éfftlgnts bTOLyht forward Cxh and •qufvahnt8' cwrl•d foThvaTd 11.1 4,662 17
SHROPSHIRE & MARCHES METHODIST CIRCUIT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Accountlng Pallcles a) Ba819 of preparatlon 8nd assessmnt of golng ¢oncom The 8¢counts have been prepared In accoftlancè ¥Ath Ihg Charlvs gov8rnlng documenl Ihe Ctrarilies Act 2011 and "Ac£ounting and Repthng by Charities: StrI1t of Recommended Practice app11ble to charilies prepadng Ihelr aCntS in accordance wth Flnandal R8FKXtiTrJ Standard applicable in the UK and R8pubilc of Irelarttl (FRS102)' (a8 amended for arunting perfods commerIng frorn 1 January 2019 The finan¢lal statsments are prepare(l in 8ledlng, lch Is the functk)nul currency of the Ch8rtty. Monetary amounts In theo8 financlal statemBnts are round kn the ne8Test £. The accourts (flnanc#al statements) have bgen prepared under the hlstorical cost Goftvention 7Mth liems cogniged at cost ortransa&lon v8lue unl8s8 othern88 stated in the relevant noles to th£s& atYA)unts Tha charity constitLts$ a public benellt entty as definéd by FRS 102. The trust88s con8id8r that there are fKI rnrid uncertawths ab¢)ut the charW6 ablllty lo continue as going concom. b) Fund• slru¢tur• Th8 fvnds held constitute: General Funds hekl for any purposo of the Circult lch are Unrestrfcled. The c[rct Modgl Trust Fund h88 wlde puryxjses dofinod In StsrKling Orders arKI 18 C8tegorised as ntrI. Restrlcted funds which are held for a narr0vr pury)ose arKI Endowment fund8 bthich represent glts. thè c4pitsl nomially belng unavailable for Sp, and the incorno from whlch Is dlher Reslri¢ted or Unre8tslcted. Details of each mat8rfal nd ara dl8closed In note 19 to thèsè a¢Kounts. Any funds may bp represented by mora than Just cash. c) Income racognltlon IncLMne Is recogn18ed tharlty 15 IwJally entsed to il after any pèrformance conditions have been meL Ihe am¢)unts ¢an be mea$ur8d rellably. and it Is probabk that irKome 11 be rerkived. Cash donalions a rec(Jni88d on Tlpt. other donalon8 aré recognlml once the charity has been nofjfied of the donatlon, unless perforniance coftdith)ns reqL4re tjeferdl of amount Grant$ are rglSd on receipt unles$ perf¢ffliaThce ¢onrllJons requlre deferral ofthe amount. Capiial recelpts aro recognlsed eTh Ihe charfty Is entiued to Ihe In$m. Legacies are re¢cJnised on recalpt or othentyise Ifthe tharity ha8 been notified of an Imp8nding distribution. the amount is kn(AYn. end reGept18 expg¢ied. If the amount Is not known. thg legaGy18 treated as a contlngent assot. Inst InMe is reojgnised on Trcelpt ofthe COMe. d> Expondlturn recognltlon Expenditur& Is recognksed oncethere is a legal or Cn$tCtiVe obflgaDn to make 8 payThentlo a third party, tt is probable that settlement wll be required ar the amounl of the obligation can ba rneaswed reli8Ny. } Alloc¥llon of governance costs AdmlnT8trydtJDn expenses of the charity relate lo tho cosls of runniry the Charity, such as Insura1. accountancy fee8 and costs of statutory ¢ompliance. Indudo any costs whlth cannot be 6pecifically altslbuted to another expondth cl85slfKK>A. See note 11 fDr bB8is of alloGation fj Chorltabl• actSvlU The Shropshlre & Marches Methodh5t CiT¢uIt $ts to encowage and sUPPOrt the mlnistry and nknEon of ?11 the churd)es in Its c£re. Any oypenthire spoclftslly to athleve those obie¢ts Is Included In threcl chaiitablp eendItuTe. 18
SHROPSHIRE & MARCHES METHODIST CIRCUIT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 g) Tan9lble fixed assets for us• by the Clrcult Tangibl¢ fixed assets 8re capHallsed at cost If they con be UEOd for mre than year. and ¢osi at least £1,000. Provislon is made for depre¢lalM)n ¥ther8 apFryriaie. Depretiation is reccsnlsed 80 ¥¥ to Wiite off the cost of a5sets18ss Ihek redU0[ values over Ih8ir useful ve$ Ihe followng bas". Mansesetc. Plant and Machlnery Not dewerA8ted 25% th¥igM lino Properbes u8ed fwlhe purposes ofthe Cha ore Inla in tho Circuit'$ 8c¢ounts when respmsiblltyfor maintenance atc. rosts the Circ They are valued al or a rea8 value on recelpL Where cost 15 Mt awa1[&. the Circuit MoelirKJ h86 estimated the building8, rrent value to the clrcul bssed cn insurance values and tsklnu aco)unt of the fact that lver will be b88ed on demolllion reinstaling the current and rKtt the [gIn41 st less cuMulated (JepreO8t. When prop1ies are ld. tho CnexIan 55 or to lovy a kyoporucffi ¢)f thg pred5 and tsrefore, vthen the docl$lon Is made to Sell a propefty, the bvok va9 15 adiusied to fèfieAt Iha expected reallBeblè Value. not of levlgs Bny cther sg11ing costs. h) Inyeslmont Propertlos Invesknenl propèty. I1ch Is prop8ty held to eam rontals andlor for catel apprectatlon, Is measur8d slro fair value model and stated al lis falr valu8 at ts rePoj date. The suwus or dit on Tevalualiffi is recogni8ed In n8t In¢om&l (eypendilure) fol the year. l) Flxad asset Inv•8tm•nts Fixed 8669t InvoStmgDts ara inilially me86urod at trartsaction prirA excludlro transacllon c08ts. and a subsequentty m8a8ured 8t fair value at each reportlThJ date. Changes in fair va& ar8 r8cognF8ed kn nel Iorne1{aXp8n(r1Iur?} for the year. Trnnsa¢bon costs arn eensed as incurred. J> Reall¥ galns and108S¢6 19ains aThl losses arg tak8n lo thg Stater¢ of Finan(yal Adiifjkn as they arfse. R8aMsed gains ond 10&8es on investments aro calculated as the dSfference beiween sal6s KKocé8ds and thelr oponlw carrOng value orlf purchase value Ir acqulrBd subsequenl io the fdsl day of tho finaThJal year. Unreali$8d gain8 and IoJBas 8rB colculated 88 the <lifference Ihe far value at the year gnd arKI their carryirrj val. Reali8ed and unrealised investmentpins arKI losses arn cortiined in the St8temeTrtof Ftnandal AfMe& k) Baslc Flnan¢l•5 As8•ts Ba5tc finandal assets, vthlch Indude debtor¥ and eA8h and bank bal, are initially mared at transacuon Pri Includlng tran5BCn costs and are subsequently caNled at arnortlsed c61 V51ThJ Iho effective intsrest method. Finan¢ial assets cla8slf*d 86 receW)1g h1n (Th ygar are not ¥mh8Od. l} Baolc FlnanGlal Ll•bllld•B Basic financial Ilablllties. inGludir£ creditors Éré Initialty remgnised al transaclion pito. FOnandal118bMIIIg¥ as p8yablo hlthln year are not amortlsed. rn) P•n$lon• Payments to defined cothbutk)n rètW8m&nl bgngilt $¢hemos are tharged as an expen¥e ats they lam due. 19
SHROPSHIRE & MARCHES METHODIST CIRCUIT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 2Ca tal Recei s com rlse the followln Unrestricted funds Clrcuit Model Trust General 2024 Total 2023 Total BalanS and asset sale proceeds from Manses and closed churches Sale of Coton Chapel Sale of Knolton Chapel Sale of Morelon Mill Chapel Sale of Chirk Bank Chapel Sale of Eardisley Chapel Sale of Ruyton X1 Towns Manse Sale of Wattlesborough Chapel Sale of Knolton Cottage Sale of Green Chapel Sale of Cleobury Mortimer Church 786 786 502 115,954 43.811 167.468 201,826 61,508 318,251 136,794 182,432 58,518 146,874 201,826 61,508 318,251 136,794 182,432 58,518 146,874 786 1.106,203 1,106.989 327,735 3 Grants 2024 2023 Wolverhampton & Shrewsbury District of the Methodist Church 12.850 12,850 4 Other Income Unrestricted funds Clrcult Model Trust Genernl 2024 Total 2023 Totsl Employment cost of Administrator at Ludlow office has been financed by Ludlow Methodist Church and Hands Together Ludlow Various sources towards employment of Pastoral Worker other 22.686 22,686 20,965 5,265 9,971 5,265 9,971 4,836 3,925 37,922 37,922 29,726 5 Staff costs Salaries Natlonal Insurance Penslon Apprenticeship Levy 2024 Total 2023 Total Ministerial Lay employees 239,874 116,544 21,845 6.439 62,494 5,070 1,199 582 325,412 128,635 339,041 104,965 356.418 28,284 67,564 1,781 454,047 444.006 The average number of ernployees during the year was 1712023 - 171 wth all employee time involved in providing support services lo charitable activities. All the Ministers are Trustees of the Circuit but stipends relate solely to their duties as Ministers. The Charity considers its key management personnel comprises the members of the executive committee. The total employment benefits including employer pension contributions of key management personnel We £164,36412023 - £153,709). No employees had employee benefits in excess of £60,00012023 - nonel. 6 Tele one & Travel includin Admlnistratlon Unrestricted Clrcult Modèl Restricled Endowment Trust Fund 2024 Total 2023 Total Ministerial Travel Supemumerary Travel Lay Travel Telephone- Ministers & Office Other administration 16,581 1,678 6,030 16,581 1,678 6,030 9,944 6,604 21,189 1.199 6.038 8,476 6,506 5,447 1,148 39,680 1,148 40,837 20
SHROPSHIRE & MARCHES METHODIST CIRCUIT NOTES TO THEACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 7 Insurance Utilities on occu Mansos Unrestricted Cireult Model Trust Fund Re$trIct Endowmenl 2024 Total 2023 Total Insufance Council Tax Water rates 7,017 22,568 3,919 7,017 22,568 3.919 7,966 22.403 3,583 33,504 33,504 33,952 Unrestricted Circuit Model Restrlct Trust Fund 2024 Totsl 2023 Totsl 8 Ex endllur8 on other Clrcuit Pro e Other Manses either unoccupied or Eet Properties awaiting sale or sold Cleobury Mortimer Methodist Church premises Other 2,342 13,933 2.000 138 2.342 13.933 2.000 138 750 5.747 2,771 997 18.413 18.413 10.265 2024 Total 2023 Totsl Unrestricted CMTF Endovfflient 9 Other ex enditura Presbyteral relocation allowances Removal costs Supemumerary Ministers, Fees Bayston Hill Church for office amm¢)dat10n Vvorship Materials Other inc Zoom related costs 600 3.300 4.305 840 1,844 4,257 600 3.300 4.305 840 1.844 4.340 1.200 3,875 2,450 1,822 11.187 83 15,146 83 15,229 21,374 10 Grants and Donations Unrestricted Circuit Model Trust Fund 2024 Total 2023 Total Various Churches161 Ellesmere for Mission Project Connexional le & Grants re aid.. Colon Knolton Moieton Mill Chirk Bank Eardisley Ruyton X1 Towns Wattlesborough Knolton Collage Green Cleobury Mortimer 5,600 17,349 22.381 4,568 42.987 56,730 8.302 103,300 30.717 48,973 7,704 34.750 56,730 8.302 103.300 30.717 48.973 7,704 34.750 Bishops Castle Methi)disl Church Welsh End MethoLlist Church Melville Methodist Church District Agricultural Chaplain st. Ma3 Youth Project, Cleobury Mortlmer" Herefordshire Churches Together Refund from Rea Valley Churches 17.000 S.QOQ 7,500 20.000 17.000 5,000 7,500 20.000 6,000 400 15001 10,000 6,000 375 6,000 400 1500) 5,900 339.976 345,876 109,260 ' This amount is relumed to the CiFCUit as rental for the premises and is included in income reIved. The premise5 have now been sold lo the lessee 21
SHROPSHIRE & MARCHES METHODIST CIRcurr NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 11An igoflu •nd sUPpt Go¥8rnm 2024 20tJ Audftors remthwration 6.)0 &7txi 6,000 6.7LK) Tho tolal Includod in auditors ramunal0 th8 a31¢ and no other serdc8s are V¥id. 2024 21123 Numljer of Trusl8es wro were p8kY expenses excrudl0 Pb>tr$ and •mpby•J lay staff 2024 2023 NatL•re oflhtr expenses Supemum8rnry Fee5 Bnd Travel axpens85 Lay Trnvol and expv4es excludiTrJ C4)sts rnlmbursed 3,975 1.124 Totsl arrnunt paid 5.021 Drj th8 year £61D (2023: £6491 was FQKI to 1 trustse12023- 2 Trislees) for CHrr out PAT testing. Th18 anx)unt I b)th arKI labJwcoJts loo. NLTh L4 Ihe Trustees re¢eived any romun2rat#)n In thg year for Iholr soNlces a$ Truslees. Manmi Plant and mxhlnfrry Total Balan bTougM folward dluor TralerS to I frDm ptoperties hd for sg19 Depreclalkin Ba¢• caed foTw8r(I 2.151,792 45,CO1 2.196.793 (280.OWI (280.IXKIl 11,CQl 34 LW 1905 1871792 31 August 2024 31 August 2023 1.871.792 2 151792 34.000 1,905.7W2 45.001 2.196.793 22
SHROPSHIRE & MARCHES METHODIST CIRCUIT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 14 Inv¢sknent gw•rties 2023 Balanc• brougm fwaTd dllions Transfèrfrom Tar8lbl¢ Pssets Trnnsferto Fwpertles foT sale 610,OCQ 410,¢YXI 225,C(KI 200,LDJ {3tyJ.CtsJ) 75,fJi>J 610,OCI) (610,OC(11 BatanL carrled forward The IwsInnI propert were by irntepwrtlam vaer8 with rdev8rf prole6s1ond qu8lfft¢atlon8. Mlnst therton prop9rt8 aro valu•d on the basis ol QFen market YaEue In aco)rdance Ythh Thè Ro Instilut• of Chartered Sur4eyor8. 8¢m•nts Llsied Unll6tsd InstMents 1nve•ts)ts Total Bala¢ brought foNAYd Ad galn on revaluat)n Sale woc4eds Ba9 carFi#J futhrd 25.1 {4.960} 10.232 752 6,921 4.063 35,833 14,208) 6.921 24,704 20.641 Nèt boolt valu• 31 2024 31 Awt 2023 20.641 4.oe3 24,704 All inestmgnts are Carri al 1rlI vdue. In%wknent In eq13 and flxed InieT5t seGurle8 trade(I In quoted pvblic markets. primarftythe Lonth)n Slod( Exch8nge. Holdlngs In 1x)mrn Imiestmgnt ILYth, untt ints afid openwerl Investment MnI¢S are 8t thg bkl plca. The basi5 Df fair valug for quotd investfflonts Is eqUIlent lo the market value, uslro the bhj pnc& Asset $al•s and purchases are rettgn166d at Ihe dalo of tr8de * L))6t (th8t Is their transacthm vatue). 16 nl8 ¢3on•rl Fund 2024 2023 Dgbto Prqpayments 4,240 29.487 27.310 28,910 33,727 2024 CITcuI¢ Twst Fund 149,774 149.714 Tolal debtors 8nd pr8payThents 23
SHROPSHIRE & MARCHES METHODIST CIRCUIT
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024
17 Pro rtl•s etc held f¢r ¥al•
2P24
2023
Baknce brow forward
A
SHROPSHIRE & MARCHES MFfHODIST CIRCUIT NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 Afi818 of movomBnts In •ndowm•ntluml• Balance In¢om• Expondllurn Translèrn Galns and 1¢)8seg Fund Endowryhtnt N•no Hwl J Price Gsft Grge Parton eequest Mary Am pri JacY 19) (56) 23 142 70 315 1,841 910 58 27 3.043 235 3278 AnJlysl$ ol mov0mlS In ondoNymerffund8- prevlws y•ar Balance Expondlturn Translprs Galns arbd 1055Q¥ Fund Hazel J Price G G Parton Bequest Mary Ann PriL% Leoa¢y 19) (sn (28) 113) {81) 141) 57 28 1.841 910 3.178 135 Al tho nYent funds are irNested In CFB Fund and Ihe Incom8 is for general drcull purposes. ¥ Ro¢ondllallon of nèt m¢Mments In funds to ¢Ash Ilowfrom 0ratIng •ctlvlWe8 2024 Nel movernffirt in fur Dwjud interest ItKome Shown In Snvgslln9 8d6vltl85 Dedu¢X receipts from sale of lang4b fixed as8¢ts Add ba¢k (leprecl&lion Decrea¥e lirKrea891 In debtors IrKrease Idecre8se) In creditor5 Los81 {Galnl on r¢valuatlon of PToporkne6 Loss l {Galn} on rgvaluatlon of fixed asset Invo8lmenl£ (Galnl l Los5 on revaluatlon of currenl assal Invqslments 1247,786} {56.gQBI 11,106.989) 11.001 1143.157) 49.595 797.000 11.129 (471.319) 351,623 {37,475) {327,735) 5,129 18.178} {315.(W) 6,019 lo.(6 315,551 21 Contingent liablllty r•laling lo Ihe pot6nllal clalm ov•r • sold •st¥t• It Con1nL lo bg the c959 that • third paty may tM¥e a daim over en ostat• whkh waE sold durfng 201812019 finan¢i81 yo8r end. Thls affnt c8nnot be Rliabty mea$ed therefcrfg no xcountln9 proM$Son has been rocognlBed n Ihe aCLts.