ROSSENDALE METHODIST CIRCUIT Trustees, Annual re ort Circuit Reserves Polic Year ended 31 Au ust 2024 This document includes all funds held by the Circuit Meeting as charity trustees. Our reserves policy relates to our general lunrestricted> funds which are freely available to be used for all or any of the purposes of the Circuit. Other funds are also included for the sake of clarity and openness and to show that the Circuit has a policy for the management of all its money and not simply those which are identified as reserves. Aims Our aims are 0fOld.. 1) To secure and sustain the Circuit's viability and future at a time when we have seen a reduction in the number of Presbyters in Rossendale and a significant decline in the number of Presbyters available for Stationing 2) To give reassurance to the general public that the Circuit, which is a charity, intends to use all the money coming into its care for the purposes of the Charity. 3 Step Process 11) Mission policy The Circuit's Mission policy is set out in a separate document and has been approved by the Circuit Meeting (as the charity trustees). Essentially, it provides for'.- la) The ministerial oversight and pastoral care of the 6 local church centres in the circuit, one of which closed on 3110812024, so will reduce to S. (bl The support of a ministry team of 1 Presbyter minister, (he is supported by one supernumerary), and 2 part time lay workers, one of who retired on 311Q812024, $0 will reduce to 1 part time lay worker. (c) The maintenance of the 2 Circuit manses, one of which is let {from 1010912016). (2) Financial Plans The Circuit assessment is reviewed annually and covers the costs of 1 (a) (b} and Ic} above and is based on offers from each church towards a share of the total costs. This has been supplemented since 1st September 2016 by the saving made by not employing another Presbyter, as well as income from the manse which is let for £875 per month. The Circuit Fund {unrestricted general fund) balance at year end was £41,267. The Circuit also has unrestricted trust funds available of £22,371 which means total available funds of £63,638 Under Standing Orders, the Circuit must meet its financial obligations in relation to the support of its ministers and the maintenance of the manses. The total cost for the last financial year was £115,429. The cost for employing 2 lay staff is met by savings from only having a single Presbyter. Whilst our reserves policy is to try and hold at least six months, expenditure in hand, we have a budget set which is broadly neutral in that the anticipated expenditure is matched by the estimated income and as such we always have sufficient funds in hand to meet any unexpected calls on our reserves. This is our Operational Continuity Reserve" _ OCR. Circuit Model Trust Fund (Restricted fund) balance at year end was £29,654. This fund derives from sales of chapels and manses and is restricted by the Conference. This restriction is an internal regulation though the fund can be used for a variety of purposes. The Circuit has in
place a Circuit grant scheme for Church who can apply to the CMTF for grants of up to £3,000. The total amount available in any one year has been limited to £5,000. 13) Reserves Policy The Charity Commissioners have agreed that it is appropriate for the trustees to set a policy for the management of this fund and that that policy is set out below:_ Money held in the CMTF has been earmarked by the trustees for the following purposes'.- £10,000 for general Circuit purposes The Circuit has committed to maintain all 6 Church Centres in the Circuit but has also stated a clear objective of Making Jesus Known. Thus, the priorities are not simply to maintain at all costs but rather to maintain Churches so that they can make Jesus known in all areas of Rossendale. Therefore, the very limited resources of the advance funds are targeted at activities which seek to Make Jesus Known and interact with the local communities. The funds will support projects which.. offer the Good News of Jesus., encourage bold ventures where churches seek to deepen discipleship. £0 was paid out during the year for general Circuit Purposes, but the trustees believe it is likely that most of these funds will be required within the foreseeable future. Note that applicatior15 must a150 meet the priorities of the Meihodisl Church and Ozir Calling.
Rossendale Methodist Circuit Receipts and payments Account - Year ended 31st August 2024 2024 2023 Receipts Assessments Investment income (Note 11 Rent Received Estate Agents Commission Sundry items (Note 2) Newchurch Receipts (Note 8) Newchurch Expenditure (Note 8) Gift Aid Donations I tax recovered 100,700 1,006 10,500 -1,500 10,705 8,542 -9,252 2,774 123,476 95,000 879 9,900 -1,351 9,966 8,352 -8,772 3,047 117,021 Payments Stipends Retirement fund National insurance Apprenticeship Levy Vehicle and travel allowances Pulpit supplies Telephone & broadband District assessment Manse repairs and maintenance (Note 3) Other Manse costs (Note 4) Other sundry payments (Note 6) Grants to Connexional and other Funds (Note 5) Printing, stationery and computer supplies 62,176 7,161 4,748 309 3,133 58,706 7,291 4,331 291 3,648 425 4,303 20,824 3,745 5,355 3,677 1,396 1,328 4,266 19,688 1,779 5,500 2,196 2,976 1,4g6 115,429 115,320 Surplus (deficlt) for the year £8,046 £1,701 Balances at start of year 33,221 31,519 Balances at end of year 41,267 33,221 Summary of Cash Funds Held CFB Barclays Current Account Barclays Trips Account 18,881 10,343 12,044 41,267 7,141 17,840 8,240 33,221 TMCP Funds Circuit Model Trust Fund Other Trust Funds 29,654 22,371 52,025 27,876 21,328 49,204 Total Circuit Funds 93,292 82,425
Rossendale Methodist Circuit Receipts and payments Account- Year ended 31st August 2024 2024 2023 1 Invgstment income Surplus Fund Trust 9276 J T Hoyle Trust 471 c Deposit with Methodist Central Finance Board Eden, proceeds of sale, Trust 16123 Providence Graveyard Trust 14616 Surplus fund Trust 9382 415 369 266 255 65 287 153 66 £1.006 £879 2 Sundry receipts Miscellaneous Circuit Advance Fund - general Events Trips District advantr fund grant Charities Trust 40 1,360 4,090 5,000 255 £10,705 498 4,545 5,000 880 £9,966 3 Manse Repairs and Maintenan¢o 37 Oaklands Drive 15 Doals Gale 1,119 660 3,745 £1,779 £3,745 4 Other Manse costs Water rates Council tax Insurances Maintenance 941 2,260 1,549 749 £5.500 857 2,163 1.481 854 £5.355 S Grants to Connexional and otherfunds Refugee Grants Hope booklet & Thy Kingdom Come resources Sa17 Tear Fund M3 Project Bacup Family Centre Kids in Rossendale 1,196 70 734 262 200 200 460 600 650 £2.976 £1.396
Rossendale Methodist Circuit Roceipts and payments Account- Year ended 31st August 2024 2024 2023 6 Other Sundry Paymgnts Providence graveyard Fire extinguisher contracts Sundry Shawforth Buffet General insurance Leaving Gifts IT Equipment Quinquennials Website Bank Charges 455 505 302 655 392 398 140 250 140 65 335 1,700 230 132 175 £2.196 £3.677 7 Circuit Advancè Fund (Trust 8518) Investments held 3,980 units alue £21,560112023 £20,011) CFB Managed Mixed Fund £8.09412023 £7,865) Trustees Interest Fund ADF 2024 2023 Change Balance brought forward 27,877 28,711 -834 District Advan¢e Fund levy -697 -718 21 Drawn down for circuit funds Admin fees -79 -82 Change in units value 1,548 -888 2,436 Interest & Dividends 1,005 853 152 Balance carried forward £29,654 £27,876 £1,778 8 Newchureh Recgipts & Expenses Receipts VVHP contribution Lellings 2024 8,542 2023 7,892 460 £8,352 £8,542 Expenses Gas Electricity Water Insurance Grass Culling Boiler Cover Legal Fees Valuation Report 5,426 631 527 2,506 162 4,711 692 460 2,489 120 300 £9,252 £8,772 -£710 -£420
Rossendale Methodist Circuit Receipts and payments Account- Year ended 31st August 2024 8 Manses Purchased C03t Ins value 37 Oaklands Drive Rawtenslall 2000 £88,500 £363,451 15 Doals Gale Bacup 2013 £173,000 £345,609 New¢hurch Melhodisl Church 2020 NIA £2,808,894 Transferred lo Circuit SÉ The above costs exclude any legal, eslale agents or similar fees 9 Circuit Trust Funds 2024 2023 Changg in capital valuo 819 Surplus Funds J T Hoyle Trust Providence graveyard Proceeds of sale H Collins memorial Surplus Funds 13,904 98 2.573 5,098 187 511 £22,371 13.085 98 2.388 5.098 172 488 £21,328 185 15 24 £1,043 al Surplu$ fund$ ITrust 9276) Investments held 2,105 units (Value £11,403112023 £10,584) CFB Managed Mixed Fun £2,500.89 Trustees Interest Fund - ADF Income received by the Circuit was £41512023 £3691 bl J T Hoyle Trust (Trust 471cl Investments held £9812019 £981 Trustee Interest Fund Income received by Circuit was £512023 £31 c) Providence Graveyard Fund (Trust 146161 Investments held 475 units (Value £2.573112023 £2,388) CFB Managed Mixed Fund During the year ineome of £6512023 £661 ha5 been reTrived d) Proceeds of Sale lex Edenl {Trust 16123) Investments held £5,09812023 £5.0981 Trustees Interest Fund ADF During the year income of £25512023 £153) has been received e) H Collins memorial fund (Trust 71691 Investments held 22 units (Value £119112023 £111) CFB Managed Mixed Fund £6812023 £611 Trustees Interest Fund - ADF During the year ineome of £15 was added lo the balance n Surplus funds ITrust 93821 Investments held £488 Trustees Interest Fund - ADF Income received by the Circuit was £012023 £01 During the year income of £24 was added lo the balance Newchurch funds £1,282 Still held in name of Newchurch {2023 £1,185)
TRIPS Trips ReTripls Trips Payments Surplus on Trips £ 18.131 -£ 13,694 4,437 OTHER INCOME Standing Order Re[pts Christmas Party Blues Brothers night 1 Blues Brother5 night 2 840 650 400 410 TOTAL INCOME 6.737 EXPENSES Guided Retreat Bus Guided Retreat Tickets RCC October event deposit TOTAL EXPENSES GRANTS PAID Refugees Hope booklet & Thy Kingdom Come resources M3 Project Bacup Family Centre Kids in Rossendale 1,179 45 460 600 650 TOTAL GRANTS PAID 2,934 SURPLUS 3,804 Opening Balance 0110912023 Surplus Closing Balance 3110812024 8,240 3.804 £ 12.044 £ 12.044
CIRCUIT RECEIPTS AND PAYMENTS ACCOUNTS THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS ROSSENDALE METHODIST Circuit FOR THE YEAR ENDED 31 August 2024 District Circuit no 06114 Registered Charity - Charity Reglstratlon number 1139489 If not a registered charity His Maje8ty'8 Revenue and Custom8 Gift Ald number (The HMRC number is equivalent to a registered charity number in terms of evidence of charitable status and may be used to give to donors or grant funders wishing to see evidence of the organisation's charitable status. Methodist charities in England and Wales that are not registered charities are excepted from registration under Statutory Instrument 2014 No.242) Ministers.. Rev D Burrow Circuit StevRrds'. Mr8 J Kin.9................................................................................................................................... Mrs J Webster Treasurer.. Mr M Butterworth SFA circuit-r andJ-2024 1of5
ACCOUNTS FOR THE YEAR ENDED 31 August 2024 ROSSENDALE METHODIST Clrcuit Clrcult r•strlctod Model Trust Re8trlctod Funds Fund Fundi Total• thls year Totsl• last y•ar SECTION A a1 RECEIPTS Note Assessmenvshare 100,700 100,700 95,000 a3 a4 itsl recei ts Bank and CFB interest and Investment income 1,006 1,005 2,011 1.732 a5 Grants Other receipts TOTAL RECEIPTS 21,769 21,769 124,480 21,143 117,875 a7 123.475 1,005 (a8) SECTION B b1 b2 PAYMENTS Stipends, salaries, NIC. Pension and travel costs 74,394 1,779 7,400 19,688 2,976 74,394 1,779 7,479 20,385 2.976 70,819 3,745 8,033 21,542 1.396 b3 Manse Costs Administration etc 79 b5 District Assessment 697 Grants & donations b7 b8 Other payments TOTAL PAYMENTS 9,192 115,429 9,192 116,205 10,785 116,120 b9 776 {b9) SECTION C NET RECEIPTSIPAYMENTS FOR THE YEAR ¢1 a7-b9 8,046 229 8.275 1,755 c2 Total funds brou ht forward from last ear 33,220 27.876 61.096 60,229 Sub total c1+c2 28,105 69,371 61.984 Transfers and ad'uslments 1,548 1.548 c7 888 TOTAL FUNDS AT END OF YEAR {¢3+c4) 41,266 29,653 70,919 (c8} 61,096 (c6) SECTION D FOR INFORMATION ONLY: MONEY RECEIVED AND PASSED ON TO EXTERNAL ORGANISATIONS these amounts should not be included In total recei tslpayments above) d1 Balance brou ht foNiard from last ear d2 Offerin sIGifts received for external or OfferingslGifts - passed to external organisations BALANCE STILL TO BE PAID d1+d2-d3 anisations d3 d4 SFA circuit-r andJ-2024 2of5
ROSSENDALE METHODIST ¢IUl1 SUMMAR IT ACC NT AND INTERNAL ATI NRE TING T SECTION E Pl••89 follow th• Guldanc• No ¢om Surnmary of th8 Circuit accounts for the year ended 31 August 2024 and Intem81 Organisalws repJrting to th8 Circuit Me•ting. Notè that the fiJnd$ of 8n Intemal Organisation w)uld norrnally ba Re$trict8d fUAS unless it could be cleorfy shown that they Uld be used for any Methodist purpose. This se¢'0n mu¥l bg Wrnplet lo onive at the gross receipts and payrnent8 totals of the Circuit. If gros¥ income exceJ6 thè Aecruals Ihrèshold of £250.000, then the Acuual8 rnethod of aCUntIng AND A DIFFERENT FORII must be use(1 to port the accA)unts Ise8 Methodist websiiel. Pl80 refer to Ibe guidancè notas regarding transl8rs betsveen the Circuil and ¢)Jnnected Circuit Organisation8. INTERNAL ORGANISATIONS OpDnkng enl¥ Ad Cbs Sub tot81 of Inl•mwl Org#nl$tkJn¥ fvnds 1•121 ¢IUl1 •¢counts Itot41• broughtforward Iro pag• 2- totals Column) 124,410 116.206 8,275 elo HELD BY CIRCUIT 124480 116,205 8.27S C4nthiuo on a Mparat• $he8t and brfng the totals foThvard TOTAL RECEIPTS TOTAL PAYMENTS 8ECTION F ENT ETSA ILIT OPENING BALANCES CLOSING BALANCES CIRCUIT_CASH FUNDS HELD at 31 Au ult 2024 Cash In h Bk Current Acclxnt Bk Do shAc¢¢unt f4 Con1 Board Trust•eJ fcf Melh¢dl$t Chuffjh Purpow$ 27.876 29.653 Olh•rfund$ SUB TOTAL 61.097 70.920 (¢81 Total funds hekl by Internal Organlsaiknns (th• cIo8lng baLgnco tows abDvel le121 •12 TOTAL CASH FUNDS HELD BY CIRCUIT 61,097 70.920 SECTION G OTHER A8SET8 and LIABILITIES 9rnber2tr23 31 u•1 2024 Intrn¢nts ¢lud Endum8nts Land 8nd Bulklin see nolei In$uw¢• valuè 3517 954 0thorAsWI Loqn - showamount outltandln ear and oth8r LkqbI1Ol f4 Include only Funds held at Iha Centr81 FlnBnce Board 15 Induda onty CF8 Fund5 held 81 Trustee5 Iw Melhgdi¥t Chur¢h Purpose$ g1 Include any olher Inv•slrnents Inol Ih? Ga$h ¢krnEnt ofTMCP Irust 8cwJnts thb18 Inserted in Ilna 151 3of5
Name of Circuit Declarations and Scrutiny I confirm that these Receipt and Payment based accounts for the year to 31 August 2024 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit meeting. Signature of treasurer Name and address of treasurer . 11. s9Ld[)LE , Postcode.......... Presentation to the Circuit meeting I confirm that the annual report and accounts for the year ended 31 August 2024 werelwill be" presented to the Circuit meeting held on Signature of the Chair of the meeting Name of the Chair of the meeting Date.o'.7........ Independent Examiner's Report to the Trustees of the Circuit Responsibilities and basis of report I report to the trustees on my examination of the accounts of the Mrniok?I sr Circuit for the year ended 31 August 2024 set out on pages I to g As the Circuit'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 Circuit'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. delete or circle as appropriate SFA ¢ircuil-r and p-2024.x15X f 1
Name of Circuit . VSS&TrJQALf S I No.. 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 (other than that disclosed below.) which give me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Act; or the accounts do not accord with the accounting records. 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. I have&¥&(•W obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and fvnds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Name of independent examiner A-ND'2LrfK/J Cr Relevant professional qualification of independent examiner FacA Name of firm (where appropriate) Address /¥NLS Post Code Date delete or circle as appropriate SFA circuit-r andJJ-2024 5of5