2024-08-31-accounts

Barnet and Queensbury Meth(Mlist Ciremit Trustees. Report & Accounts 2022-23 TRUSTEES, REPORT The trustets present their rewrt and th¢ financial stat¢Tnents for the year ended 3 1st August 2024. These have been prepared in a¢¢ordance with the Charities Act 2011 and the Charities.. Statement of Recommended Pwtice 2015 as applicablc to the Financial Reporting Stsndard (FRS102) 2015. STRUCTURE, GOVERNANCE AND MANAGEMENr The Barnet 2nd Queensbury Circuit of the meth￿Ist Church is on organisation ovcrseeing the work of nine Methodist Societies based in the London Borough of BameL and in Queensbury, part of the London Borough of Brent. Two of the Societies. those in Mill Hill and Golders Green, form part of Local Ecumenical Partne￿hIp with the Uttited Refornied Church. The Society at Barnet Br(M)kside Church is in partnership with St Mary's Church of England Church, East Barnet. The Ctrcuit registetrd as a charity as requitcd by the Charities Act 2006 in 2010. The activities of the Circuit are governed by The Constilulional Practice and Discipline ofihe Methodi.¥i Church which incorporates the Methodist Church Act 1976. The governing body is Ibe Circuit Meeting whose mcfflbers are the presbyter4 deacons. lay employees and otTicers of the CircuiL provided that they are also members of, or are 'authorised to serve., the Methodtst Church. Also Membe￿ are th¢ tr¢asurer& a steward and other elected representative(s) of the Methodist Societi4 within the Ctrcuit. Currently all mem1￿$ of the CTrrcuit Meeting are trnstees. The Superintendent Minister chairs the Circuit Meeting. The Circuit Me¢ting meets a minimum of twtce a year and agrees on the broad strategy and areas of activity for the Circuil including consideration of grdnt making. investmenL reserves and risk m8n2gemewrt FKJlicic5 and ￿rforrnance. The more detailed management of the Circuit is entrusted to the Cireuit Leadership Teavn (CLD fornied of the Circuit's presbyters. d¢A¢ons. lay employees and circuit stewards_ OBJECTIVES AND ACTIVITIES The principal objective of the Circuit is to facilitate and coordinate the activities of its constituent Societies in'the advancement ofthe Christian faith in ac¢ordance with the doctrtnal standard5 and discipline of the Methodist Church, (Section 4a Methodisi Church A¢t 1976). This is donc for as tnany people as wssible within the geographical ar¢a th¢ Circuit serves. In addition, the M¢thodi5t Church Act allows for the advancement of other charitable purposes 'for the time bcing. of any subsidiary unit of the Meth¢xlist Church. (Sections 4b-4d Methodist ChEsrch Act 1976) Based on the above objectives. with due considerntion of the Charities Commission guidance on public benefit an(L in particular, the specific guidanc¢ on the charities for the advancement of religion. the Circuit has the follo￿.1￿8 aims.. Through the provision of staff, p￿a¢her& education and pas¢ornI oversight facilitate the l(Kal Methodist Societies in providing Christian WOEship.. spiritual devclopment and pastoral care trf)th to the members of the constituent Societie5 and to the wider communities in whi¢h they arc l(Kat¢d. To raise funds so as to make grdnts to advance the Christian Faith. or for other charitable purw)ses as for the time being the circuit deems appropriate. Ix)th l(KYlly. naiionally and internationallv. To support the advancement of the Christian Faith through ecumenical liaison with other Christian groups.

Barnet and Queensbury Methodist Circuit Trustees" Report & Accounts 2022-23 Unexpected pro1￿rtY r¢pairs to ¢huwhes resulting in an inability to pay circuit assessment Major work required at one or more of the Circuit manses The Circuit leadership considers that the CUTrent level of reserves is sufficient to meet any unplanned expenditure in the event of the akK)ve and when planning the budget for future years will consider the nccd to include an element to build up the reserves. TRUSTEES The members of the Cir¢uit Meeting are appointed by the Church Council of the Methodist Societies that forni the Barnet and Qu¢ensbury CircuiL or by the Circuit Meeting, or by sub- committees of the Circuit Meeting. The sub-comtnittees deal with ministerial and lay- employment apEKbintments, usually in c105e liaison with the individual churches involved with a particulaT role. The trustees on page l are those serving at the date the balance sheet was signed. A rdnge of guidance produced by Methodist Connexion to support the effective n￿￿ing of the Circuit, specifically the leaflet 'The Role of a Trustee in The Methodist Church, is given to all new Ctrcuit Meeting members as induction to their role &s trustees. The TTUStees are also ci)mmitted to ensuring that the Connexional Safeguarding Policy is implemented in accordance with government legislatioo to provide a safe environment in the Circuit's churches for young tthple and vulnerable adults, STATEMENT OF TRUSTEES. RESPONSIBILfTIES tN RESPECT OF THE ACCOUNTS Charity law requires the trnstee5 to prepare fmancial statements for each financial peri(xl which give 8 true and fair vtew of the state of affairs of the Barnet and Queensbury Methodist Circuit and of the results for that period. In preparxng those financial slatements. the trustees are r¢quired to: select suitable accounting wTrlicie5 atkd then apply them ciynsistentlyy make judgements and estimates thai aTe reasonable and prudenL state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Circuit will continue to function- Cotnply with the Strdtem¢nt of Recommended Practice on accounting and reporting by charities issued in 2015. The trustees are responsible for keeping proper a(xounting reci)rds which disclose with reasonable accuracy al any time the financial position of the Circuit. -fhey art also responsible for safegEording the assets of the Circuit and hence for tsking reasonable steps for the prevention and detection of frdud and other irregularities. The trustees confirni that they have complied with the above TEquirem¢nts and responsibiltties. Aci[￿vEmENTS, PERFORMAI¥CE AND FtrruRE PLAI¥S Iyorship andprwT Our emphasis is on providing a rdnge of church services across the Circuit that will enable a wid¢ $￿tion of the communty to engage in worship. as well as providing traditional

BARNET & QUEENSBURY CIRCUIT Actual SUMMARY OF ACCOUNTS - 31 st August 2024 Balance brought forward 128,832.99 Income Assessments Grant {London district) Heathfield Trusi Interest 198,040.00 CFB TMCP- Pemianent Endowment 2,316 22 16.52 42,500.(10 Rent (grossl Youth account total Income 242,872.74 Expenditure Ministers Sts'pends App Lewy Travevmileage Preaching Fees Telephone Training Postage Books and Stationery ReÈocats"on Miscellaneous 144,131 02 606.47 1.468.91 691_25 2,484.27 265.00 777.80 12.135.45 671 67 Youth account District Assessment inisters, Manses 49,723.00 Council Tax and Water Maintenance & Repairs Insurance Letttng Fees 8,210.26 47.282.26 7.143.21 3,940.80 Circuit Offi General mi￿ltaneouS Church Quinquenniel 1nspecb.ons Olher Independent Examinerfs Fee Conb"ngency 2.414.42 2,750.00 totsl expenditure 284,695.79 Balance Cfforward 87,(K19.94 HSBC CFB 63,872.58 16,938.19 Add debtors Less creditors 29,826.50 23,627.33 87,009.94

Circuit lkndel TTh￿t Fund Brougm Fop*ard Interest Admin District Levy 83,990.78 4.433.79 239.37 2.099.77 Balance 86.085.43

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Bamet & Queensbury Gmiii Notes to the Accounts l Basis of accounting The financial statements have been prepared under the CharÈties Act 2011 in accordance with the Statement of Recommended Practice ISORPI 'Accounting and Reporting by Chartties, issued in 2014 applicable to charities preparing their accounts in accordance with FRS102- the Charities SORP IFR51021 and taking note of the Upjate Bulletin l issued in 2016. 2 Funds The funds held constwtute.. General Funds held for any purpose of the Circuit which are Unrestricted, the Circuit Model Trust Fund has wide purposes defined in the Standing Orders of the Methodist Church and is categorised as unrestricted, and restrirted funds which are held for a narrower purpose. Details of each material fund are disclosed in note 14. Any funds may be represented by more than just cash 3 Accounting Policies Basis of preparation 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. on the accruals basis to show a true and fair view of the Circutys financial position and activities. Incoming resources Voluntary income including donations. gifts and grants are recognised where there is entitlement, certainty of receipt and the amount Cdn be measured with sufficient reliability. Such income is only deferred when the donor has imposed conditions which must be met before the Circuit has unconditional entitlement. Investment income is recognised on a receivable basis. Incoming resources from charitable activities represents the as5es5ments placed on the Circuit churches and is recognised on a receivable basis. Resources expended This is recognised when a liabiltty is incurred. or a constructive obligation arises, that ￿sUlts in the payment being unavoidable. Liabilities are recognised as soon as an oufflow of economic benefit is considered more likely than not under the legal or construrtlve obligation commttting the Circuit to pay out resource5. 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. VAT Since the Circuit is not VAT registered, all input VAT is chatBed with the expenses to which it refers.

Barnet & Queensbury arcuit Note 3 contlnued Tangible fixed assets for use by the Circuit These are capitalised if they can be used ft)r more than one year, and individually cost at least £1,000. The freehold property is shown in the accounts at 2015 deemed historical cost, of which the land component Is deemed to be £1.684,350. No depreciation is provided on the building because the trustees consider the current residual fair value of the manse buildings lon the assumption that it had reached the end of its useful economic life by the year-endl to be not less than its current value. Any depreciation would not be material. The propertbe5 have been reviewed for impairment. Investment Propertles Investment properties consist of manses rented out as they are not currently required to house staff. Investment properties may revert to staff accommodation in future years. 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. Debtors and Creditors: Bank and Cash Debtors are stated at the amounts owed to the Circuit or prepaid. Creditors are initially recognised at settlement amount after any trade discounts, where normal credit temis apply, or amount advanced to the Circuit. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid. The liquid funds of bank balance5 and deposit account balances are shown at the realisable values. Loans Where cOn￿SsiOnary loans li.e. free of interest) are rnade to {or received by) the Circutt to further its charitable purposes. and are repayable after more than one year, they are initially recognised at the amount paid lor received). wwth the carrying value adjusted in subsequent years to reflect repayments and any èccrued interest. adjusted for any impairment. if necessary. 4. Income Donations and legacy income comprises offerings made at Circuit events and bequest income. Investment income relates solely to the interest receivable on short term deposit and bank accounts. All income is sourced in the United Kingdom. S. Payments to trustees Other than Ministerial stipends there were no payTnents made to trustees for seryices provided to the Circuit by agreement with the Circuit Meeting.

2024	2023
이	0
2024	2023
106,474	98,030
10,307	9,347
26,815	24,600
536	489
4,909	9,623
605	605
149,647	142,694
3.4	3.4

2024	2023
2,750	2,600

			2024	2023
	Land	Buildings	Total	Total
Balance brought forward	1,684,350	1,688,750	3,373,100	3,373,100
Revaluations	이	0	이	0
Disposals	이	0	이	이
			3,373,100	3,373,100

12 Debtors and prepayme	nts
				2024	2023
Prepaid stipends				9,969	13,599
Property Rent				6,038	4,439
Other Debtors				13,820	24,310
				29,827	42,348
13 Creditors and Accruals	(due in under1	yr)
				2024	2023
Deferred Income				15,767	15,050
Other creditors				7,860	10,625
				23,627	25,675
14 Charitable Funds
	Fund					Fund
	balance brought	Income	Expenditure	Inter fund transfers	Revalue	balance carried
	forward					forward
Unrestricted funds
General fund	3,501,933	242,873	(284,696)		이	3,460,110
Model Trust fund	83,991	4,434	(2,339)			86,085
Total unrestricted funds	3,585,924	247,307	(287,035)	이	0	3,546,195
Endowment Funds
'Trust 177'	630			20		650
Total funds	3,586,554	247,307	(287,035)	20	이	3,546,845