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2023-08-31-accounts

Name of Circuit CAMBORNE, REDRUTH & HAYLE Circuit No 12/1

Statement of Financial Activities (SOFA) for the year ended 31 August 2023

Notes to
the
accounts
Income

General Fund
(Unrestricted)
Circuit Model
Trust
(Unrestricted)
Designated
Funds
(unrestricted)
Restricted
Funds
Endowment
Funds
Total
2022/23
£
£
£
£
£
£		 Total
2021-22
£
1 Donations and legacies
2 Income from monetary investments
3 Income from investment properties
4 Assessments on Churches
5 Capital Receipts
6 Grants received
7 Other charitable income		 0
5,064
3,435
8,499
35,428
35,428
169,814
169,814
0
0
31,649
31,649		 0
3,730
32,552
173,524
0
0
78,996
8Total income
Expenditure		 241,955
0
0
3,435
0
245,390		 288,802
9 Grants and donations
10 Salaries and associated costs
11 Property maintenance
12 Connexional assessment & model trust levy
13 District Assessment & Levy
14 Depreciation
15 Office expenses
16 Other outgoings		 0
143,710
143,710
60,626
60,626
0
52,668
52,668
0
11,530
11,530
3,705
3,705		 0
153,945
106,864
0
53,576
527
6,561
1,918
17Total charitable expenditure 272,239
0
0
0
0
272,239		 323,391
18 Gains/(losses) on monetary investments
19 Gains/(losses) on investment properties		 0
0		 0
20Net income/(expenditure) (30,284)
0
0
3,435
0
(26,849)		 (34,589)
21 Transfers between funds
22 Other gains/(losses)		 19,357
(4,357)
(15,000)
0
4,522
4,522		 (2,946)
23Net movement in funds (10,927)
4,522
(4,357)
(11,565)
0
(22,327)		 (37,535)
24 Total funds brought forward 173,365
328,879
33,437
39,849
0
575,530		 613,065
25 Total funds carried forward 162,438
333,401
29,080
28,284
0
553,203		 575,530

Name of ClrcuFt CAMBORNE. REORUTH & HAYLE Clreult No . 1211 Balance Sheet as at 31 August 2023 Clr¢uSt Yots 2022123 Tolals 202ff22 FurKts Fund• lunre￿Id> iUnreWGt•dl Flxed A8￿ts Cirwil M8n808 & E I InveS￿ent Inves￿ents 810,Ct#) 810.000 128.883 I,J03,883 123.409 123809 123.409 1,678.40$ 1.48S,Cth) Cuty•rrt Ats•t• Debiors Loans e Cimil ITrvoSlmenl8￿kn TMCP Central FinOnc& Bo•r¢ Do Cash al eank and in hand 7.796 T.25f 333.401 237.ffT 178,326 lQ4.899 52T.393 212.884 55.462 276,142 28.284 $6,462 881,907 333.4 28,284 eurr•nt Ilabllttl Creditors due In under 1 Grants payatdO￿trdn 2023r24 Total tUYfOnt Il¥iJlléll•$ 52.940 40.679 52,940 SZ,940 40,aT• 416,T14 N•t¢um•M•islll•blllll•# 223.202 1ffi78.202 333.401 123,409 2,192 376 2070 097 Lon8 ierm Ilabllltles due after more than on• tsranls 8ye after 2023r24 LtyJThs 10 the circuil 1,•n,202 333,401 ,080 123.409 2.192.378 2.oni,597 Fund olth• Clreu Generol Fu￿J Unresifthd Circuil Modd T￿81 Fund lu￿r￿tr4￿j De&v4naled Funds IUnrestlb* rot41Unr•strlrf￿F￿ndl Re5fdciod Funds ENJtrNmeni Fund8 202 1 678 202 333.lof 29,080 2,040,683 2B,284 123,409 2,1#2.376 1704 597 237, 117 333.401 I.WI.714 28.284 123,409 123AO# 128.883 2.070,59T Tot•1 Funa• 1,678.202 333801 29.080 28,284 Circuit TreaSu￿r

CAMBORNE REDRUTH HAYLE METHODIST CIRCUIT— NUMBER 12/01 NOTES TO THE ACCOUNTS Year to 31st August 2023

1 Basis of Accounting

The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS102 - the Charities SORP (FRS102)

2 Funds

The funds held constitute: General Funds held for any purpose of the Circuit which are Unrestricted. The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted. Restricted funds which are held for a narrower purpose . There are no Endowment funds. Details of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash.

3 Accounting Policies 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, on the accruals basis to show a true and fair view of the Circuit's financial position and activities

Incoming Resources

Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient

Resources Expended

This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.

VAT

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

Tangible fixed assets for use by the Circuit

Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £500. The freehold properties are shown in the accounts at various deemed values. The property in Mount Pleasant Close were revalued in 2009/10, 1 Parc Clies is based on the purchase price in 2016/17. Value of North Roskear Road was increased in 2017/18 to show a truer value. No depreciation is provided on the building because the trustees consider the current residual The property has been reviewed for impairment..

Investment Properties

Investment properties - From time to time the Circuit may hold residential properties (formerly manses) which is surplus to its normal staffing requirements. When this is the case and it is anticipated that the property is unlikely to be used as a manse, the property is classified as Investment Property.

The Circuit has three such property at 27 Mount Pleasant Close, 161 North Roskear Road, and 1 Parc Clies

Investements

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 Prepayments

Payment in advance included in the accounts is in respect of the ministers stipends, which are paid in August 2023 relating to the 2023/24 financial year.

Creditors

Creditors include both sundry expenses and specifically the 1st quarter assessment received in August 2023 and relating to the 2023/24 financial year

4 Payment to Trustees

There were no payments made to the trustees for additional services provided to the circuit by agreement with the Circuit meeting, this excludes stipends

4 Payment to Trustees
There were no payments made to the trustees for additional services
provided to the circuit by agreement with the Circuit meeting, this excludes
stipends
Trustees Expenses
Number of trustees
Total amount
5 Fees for examination or audit of accounts
Independent examiner's fees for reporting on the accounts.
Other fees (e.g. advice, accountancy services) paid to the independent examiner or auditor		 2022/23 2021/22
1 1
£ 124 £ 72
2022/23 2021/22
£ 300 £ 480
£ 0
6 Paid employees
Staff Costs During the Year were:
Stipends and lay workers (incl. employers NI & Pension contributions)
Apprenticeship Levy
Travel/Mileage Allowances etc
Total Staff Costs		 2022/23
140,357
500
9,355
150,212		 2021/22
140,357 146,624
500 589
9,355 6,732
150,212 153,945

CAMBORNE REDRUTH HAYLE METHODIST CIRCUIT— NUMBER 12/01

7 TANGIBLE FIXED ASSETS Year to 31st August 2023

Cost or Valuation Land
£		 Manses
£		 Other
buildings
£		 Fixtures,
fittings and
equipment
£		 Payments on
account and
assets under
construction
£		 Total
£
Balance brought forward 0 960,000 495,000 0 1,455,000
Additions 0
Revaluations(+/-) 0
Disposals(-) 0
Transfers *(+/-) 0
Balance carried forward 0 960,000 495,000 0 0 1,455,000
Accumulated Depreciation
Balance brought forward 0 0 0 0 0
Depreciation charge for year (-) 0
Revaluations(+/-) 0
Disposals(-) 0
Transfers*(+/-) 0
Balance carried forward 0 0 0 0 0 0
Net book value
Brought forward 0 960,000 495,000 0 0 1,455,000
Carried forward 0 960,000 495,000 0 0 1,455,000

8 ANALYSIS OF FUNDS Year to 31st August 2023

Fund Name Opening Balance Incoming
Resources		 Resources
Expended		 Transfers Closing
Balance		 Purpose of the fund
General 173,365 241,955 (272,239) 19,357 162,438 For use by the trustees in
the furtherance of the
general objectives of the
Circuit and which have not
been designated
for other purposes
Manse Fund 10,000 10,000 Property repairs
Relocation Fund 2,000 (2,000) 0 Stationing of Ministers
Youth Worker Fund 2,357 (2,357) 0 Youth work
Gateway Project 19,080 19,080 Supporting the new build
project
Circuit Model Trust Fund 237,117 187,682 (91,397) 333,402 Funds held at TMCP
Totals 443,919 429,637 (363,636) 15,000 524,920
Restricted Fund Name Opening Balance Incoming
Resources		 Resources
Expended		 Transfers Closing
Balance		 Purpose of the fund
Ministry Maintenance Fund 39,849 3,435 (15,000) 28,284 Supporting ministry
(restricted fund)
Totals (15,000)
28,284
39,849 3,435 0 (15,000) 28,284

9 ENDOWMENTS

ENDOWMENTS
Endownment How is capital
invested		 The current value of the
capital		 Annual
Income		 Purpose of the fund
Fore Street Permanent
Endownment		 Please see Trust 12058 123,409 3,435 Supporting ministry
(restricted fund)
Totals 3,435
123,409 3,435

Camborne, Redruth and Hayle Methodist Circuit TRUSTEE'S ANNUAL REPORT

For the year ending 31st August 2023

Introduction

2022/23 was a year to draw breath after a number of changes the previous year. The time was used to consider and consult on our future structure. For this connexial year we had 2 presbyters, 3 lay pastoral staff, and 1 administration officer. This arrangement worked well although they were all overburdened. If we were to make any significant process in our missional objectives we had to change our thinking and so we made the strategic decision to utilise our reserves to fund 2 new pastors to supplement this team. The recruitment process went well and we were delighted to welcome these 2 pastors to our team at the beginning of September 2023.

Two of our circuit stewards stood down during the year leaving us with just 3 at the end of August 2023. We continue to have faith that some of our members will feel the call to this valuable work within our circuit. It is still impossible to assess the full impact of Covid but we are acutely aware that all churches have lost a number of members. Apart from those whom Covid has taken from us, and those who have just not returned, many are ageing to the point they no longer feel capable of holding church offices. To balance this a little, we are seeing some new faces appear in our chapels and together with our outreach activities such as lunches, toddler groups and messy church, we are encouraged for the future of our mission.

Our digital worship project continues and has been extended to December 2023 to try and ensure those churches who would like to take advantage of financial support from the circuit, can do so.

The sale of Penponds church has now completed after a period of around 6 years, which is a great relief to us, both in time and financially. We ran a successful mental awareness course that many of our staff and church members have benefited from.

Finally, a tribute must be paid to all our staff and stewards who have worked extremely hard in this year and for whom our circuit is greatly blessed.

Aims and Activities

Our Circuit mission statement is: To make disciples through Christ-like living and so to build the Kingdom of God. In practical terms this translates as:

Brief financial review of the year

Stipend expenditure has increased each financial year in line with conference approved increases Together with staff wages and ‘lay workers’ and this forms the majority of our spending in the year under review. Ministerial pay increases are set by connexion and we have reflected this and the living wage, in the reviews of all other staff. Circuit contribution to the District enjoyed a 3% reduction reflected at all levels from connexion downwards. It was again gratifying to see that churches continued to pay their assessments at the agreed levels of a 4% reduction on the previous year.

We launched a digital worship programme with circuit funding available to churches. Not all funds were allocated and we shall keep the project open into the 2023/24 year. The sale of land at Penponds now concluded and the proceeds are now in our TMCP Model Trust Fund. The refurbishment of Kehelland is complete although the process of creating a long term lease with a Community Interest Company is taking more time than we anticipated. We continue to market the chapel at Illogan Highway and would hope to conclude a sale in the coming year.

Our Discipleship Developer began work with us in September 2022 but left us during the year. We then used the time to review our needs and resources. With a comfortable reserve level, it was decided we should invest some of this in a new missional programme. At the turn of the year in August/September 2023 we were delighted to welcome 2 new lay pastors to our circuit.

Plans for 2023/24

As mentioned above, our plans to recruit 2 new members of staff came to fruition and they began their work in early September 2023. This now brings our staff compliment to 8. We further plan to recruit a part time property administrator to alleviate some of the time spent by circuit stewards in property management. After 2 years of reduced assessments from district, we had to increase assessment levels this year as a reflection of the increase cascaded down from connexion. As mentioned above, our ‘Hybrid/Digital Church’ project continues to make funds available to churches to enhance their ability to host digital worship. The manse at 27 Mount Pleasant Close was vacated in September 2023 and a decision on refurbishment or sale is ongoing.

Basis of preparation and legal framework

The Charity's annual report and accounts for the year ended 31 August 2023 have been prepared in accordance Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)

Full Name of Charity: Camborne, Redruth and Hayle Methodist Circuit

Registration Charity Number: 1139494 Date of registration: 23[rd ] December 2010 Main communication address: - Circuit Office, 5 Mount Pleasant Close, Camborne, TR14 7RZ

The members of the Camborne Redruth and Hayle Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches.

Full membership is shown as Appendix A to this report.

Circuit Ministers and officers:

Active Circuit Ministers:

Rev Keith Osborn (Superintendent) Rev Ray Borrett

Circuit Lay Workers: Ms Sue Voisey Mrs Sharon James Mrs Claire Beavis

Circuit Stewards Mrs Jayne Rogers (Senior) Mr Nick Navratil – (Treasurer) Mrs Jeanette Wilson – (resigned August 2023) Mr Jason Hurr – (to August 2023) Mrs Debbie Gilbert – (from March 2023)

Administrator Mrs Angela Rice

2019

Independent examiner for 2022/23:

Mr Edward Pascoe, Pryor Begent &Fry, 13-15 Commercial Road, Hayle, TR27 4DE Investment Bankers:

HSBC Bank PLC, 17, Boscawen Street Truro.

Central Finance Board of the Methodist Church and Trustees for Methodist Church purposes

Objectives and organisation

Charity objective is to act as a Resource provider within the area around Camborne, Redruth and Hayle for the Methodist Church:

The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:

a) The Christian faith in accordance with the doctrinal standards and discipline of The Methodist Church;

b) Any charitable purpose for the time being of any Connexional, District, Circuit. local or other organisation of The Methodist Church;

c) Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church;

d) Any purpose for the time being of any charity being a charity subsidiary or ancillary to The Methodist Church

The organisation and resourcing of regular public acts of worship open to members of the church and non-members alike. The teaching of Christianity through sermons, courses and small groups. The resourcing of pastoral work including visiting the sick and bereaved. Taking religious assemblies in local schools. Promotion of Christianity through the staging of events and services. Provision of chaplaincy services to the local university and other institutions.

Public Benefit

We confirm the trustees have had regard to the Charity Commission's guidance on public benefit.

Structure, Governance and Management

"The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976) Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).

Circuit Meeting

The Circuit Meeting met four times during the year ended 31st August 2023 This meeting deals with essential business and also allows for other issues to be explored such as mission, resources and training. News is also heard from individual chapels of developments in their work and witness which may be of wider application in the Circuit.

Local Preachers' Meeting

Local preachers meet three times and these meetings are generally well supported. With church buildings closed during the period of lockdown, some preachers have contributed to the online worship offered weekly.

Circuit Finance Committee

The Circuit Finance Committee met once during the year to review the annual statement of accounts in depth. The meeting provides the opportunity for the Treasurers from all the churches in the Circuit to meet to share ideas and discuss any financial pressures that may affect each individual church.

Circuit Leadership Team

During the year the Circuit Leadership Team met frequently to discuss Circuit Policy, property and finance matters. Recommendations were brought for consideration by the Circuit Meeting. The constitution of this meeting is the staff team plus Circuit stewards.

Circuit Events

Circuit events have re-opened during the year with most churches holding some events on a regular basis. Internet and media facilities are continuing as well for those who wish to worship from home.

Trustee Training

A range of guidance produced by Methodist Connexion to support the effective running of the circuit specifically the leaflet 'The Role of a Trustee in The Methodist Church' is given to all new Circuit meeting members as induction to their role as trustees.

Related Parties

The Circuit is part of the Cornwall and Isles of Scilly Methodist District and is also accountable to the Methodist Conference.

The following Methodist Churches are linked to the circuit:- Angarrack, Barripper, Beacon, Camborne Wesley, Centenary, Redruth United Methodist, UMC Four Lanes, Hayle, Illogan Highway (closed December 2021), Mawla, Porthtowan, Troon and Wall.

The Wesley Centre is part of the outreach of Camborne Wesley Chapel which is linked to the Circuit.

Risk Management

The major risks have been identified and recorded by the Circuit Finance and Property Committee with professional advice taken as required. The day to day business of the Circuit has been conducted through face to face meetings with some limited use of social media platforms. All churches are now open for worship and sit alongside some continuing online worship. There is a regular annual review process undertaken and recorded.

Income and Expenditure is being monitored in total and is compared with the approved annual budget on a half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves.

Safeguarding

Every person has a value and dignity which comes directly from the creation of male and female in God's own image and likeness. Christians see this potential as fulfilled by God's re-creation of us in Christ. Among other things this implies a duty to value all people as bearing the image of God and therefore to protect them from harm.

Methodist Connexional practice outlines commitment to the following principles:

The Camborne, Redruth and Hayle Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches.

The Camborne, Redruth and Hayle Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable.

Reserves Policy

The Reserves Policy for the Circuit is to hold a minimum sum equivalent to six months' average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and/or to be able to continue short term funding planned activities in the event of any inability to raise the full Circuit Assessment from churches.

The Circuit reserve has been a sum of £100,000 for a number of years with a temporary reduction 2 years ago. We recommend that the reserves level stays unchanged at £ 100,000

Name ofCir¢uit......Camborne Redruth & Hayle........................ No...1211....... Independent Examiner's Ststement I have completed my examinalion. I confirm that no material matters have come lo my attention in connects'on with the examinab'on ( ") which give me cause to believe that in, any material respect.. the accounting records were not kept in accordan￿ with section 130 of the Act" or the accounts do not accord wth the accounting records.. or the accounts do not comply wth 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 Yrue and fair, view. which is not a matter considered as part of an independent examination Delete rfnot applicable i.e. all R&P accounts the tnjstees. annual report is not consistent with the accounts Delete rfnot applicable i.e. all R&P accounts. 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 laaj￿haVe not" obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds 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. Relevant professional qualification of independent examiner. Name of fimi {where approprtate).. Address.. Y￿￿.￿{.................................................................. Post Code.. l.K.47 l£p Date: delete or circle as appropriate