oySHIpe Mid Derbyshire Methodist Circuit Registered Charity No. 1139498 Mid Derbyshire Methodist Circuit Trustees, Annual Report for the period from 1" September 2023 to 31st August 2024 Charity registration number: 1139498 Charity Commission 2 0 MAY 2025 Recorded Received
MID DERBYSHIRE METHODIST CIRCUIT CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Page Report of the Trustees 1 to 14 Report of the Indgpgndent Audttors 15 to 17 Statemgnt of Financlal Activities 18 Balance Sheet 19 Cash Flow Statement Notes to the Cash Flow Statement 21 Notes to the Flnancial Stst9rn9nts 22 to 32
MID DERBYSHIRE METHODIST CIRcurr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Reference and Administrative Details Chari Name The name of the charity is Mid Derbyshire Methodist Circuit. Re istered Charit Number The registered charity number is 1139498. Charit 's Princi al Address Mid Derbyshire Circuit Office Belper Community Cottage 16 Chapel Street Belper DE56 1AR Statement of Trustees, Res onsibilities The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). The law applicable to chartties in England and Wales, the Charities Act 2011, Charty (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements. the trustees are required to: select suitable accounting policies and then apply them consistently. obseNe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. 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 CanM basis unless it is inappropriate to presume that the charty will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the chartty and to enable them to ensure that the financial statements comply wth the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 1
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Narnes of the Chari Trustees who Mana e the Chari These trustees fomi the Circuit Leadership Team, who are delegated with the day-to-day running of the circuit. Name of person {or body) entitled to appoint trustee (if an Trustee name Office (rf any) Dates acted rf not for whole year Rev Ann Miller Anderson Superintendent Minister Ex officio Dèacon Michaela Jayne Doherty Rev Helen Ruth Penfold Circuit Minister 1st September to 15th November 2023 Ex officio Circuit Minister Ex officio Ex officio Rev Timothy Paul Simms Ruth Beresford Circuit Minister Circuit Sleward Mid Derbyshire Circuit Mid Derbyshire Circuit Mid Derbyshire Circuit Mid Derbyshire Circuit Kathleen Brydon Sandra Haycock Lesley Wivienne Joy Palfreyman Paul Albert Selby David Shirtcliffe Circuit Steward Circuit Steward From 20th September 2023 1S1 to 201h September 2023 Circuit Steward Circuit Steward Mid Derbyshire Circuit Mid Derbyshire Circuit Mid Derbyshire Circuit Mid Dèrbyshire Circuit Mid Derbyshire Circuit Mid Derbyshire Circuit 10 Circuit Steward Eddie Sweet Circuit Steward 12 Judith Anne Milnèr Lay Employee Lay Employee Lay Employee 13 Roanna Joy Pilsbury Gillian Dorothy Stamp 14 Names of an other eo le who served as chari trustees in the financial ear in uestion Rev Kevin Price Minister in Local Ecumenical Partnership Supernumerary Minister Supernumerary Minister Mid Derbyshire Circuit 16 Rev Adrian Smith Mid Derbyshire Circuit Mid Derbyshire Circuit 17 Rev Juan Thompson 1$1 September to 30th November 2023 18 Rev Anthony Wells Margaret Garratt Paul Garratt Supernumerary Minister Rep to Circuit Meeting Rep to Circuit Meeting Rep to Circuit Meeting Rep to Circuit Meeting Rep to Circuit Meeting Rep to Circuit Meeting Mid Derbyshire Circuit Ambergate Church Council Ambergale Church Council Belper Church Council Belper Church Council Belper Church Council Codnor Church Council 19 20 21 Jane Gentry Christine Nelson 22 23 Jennifer SGot¢hbrook 24 Dorothy Annette Taylor Kathleen Mary Hassall 25 Rep to Circuit Meeting Codnor Church Council Page 2
MID DERBYSHIRE METHODIST CIRcurr REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 26 Helen Rogers Timothy Nigel Everard Rogers Gill Clifton Rep to Circuit Meeting Rep to Circuit M*ting Cromford Church Council 27 Cromford Church Council 28 Rep to Circuit Meeting Rep to Circuit Meeting Rep lo Circuit Meeting Rep to Circuit Maeting Rep to Circuit Meeting Dadey Dale Church Council Darley Dale Church Council Darley Dale Church Council Denby Bottles Church Council Heage Church Council 29 Monica Render 30 Jeanette Anne Welch 31 Andrew Bales 32 Bèverley Margaret Evans 33 Lynne Tery Sheila Wheatley Helen Elizabeth Whitham Rep to Circuit Meeting Rep to Circuit Meeting Rep to Circuit Meeting Heage Church Council Holbrook Moor Church Council 34 35 Holbrook Moor Church Council 36 John Daglish Rep to Circuit Meeting 1st to 19th Septemb 2023 Holloway Church Council 37 Marjorie Ann Thoday Barbara Moore Rep to Circuit Meeting Rep to Circuit Meeting Holloway Church Council Horsley Woodhouse Church Council 38 151 September 2023 to 11 ih March 2024 From 11th March 2024 39 Pamela Jean Nelson Rep to Circuit Meeting Horsley Woodhouse Church Council 40 Phyllis Shaw Rep to Circuit Meeting Horsley Woodhouse Church Council 41 Brenda Jean Clarke Rep to Circuit Meeting Rep to Circuit Meeting Ilkeston Church Council 42 Michael Edward Parker 1st September 2023 to 3rd May 2024 Ilkeston Church Coun¢il 43 Tony Stevens Mark Ratcliffe Rep to Circuit Meeling Rep to Circuit Meeting Ilkeston Church Council 44 Marehay Waingroves Church Council 45 Christine Dianne Richards Rep to Circuit Meeting Marehay Waingroves Church Council 46 Viv Walters Rep to C1Ul1 Meeting Marehay Waingroves Church Council 47 Penny Brown Rep to Circuit Meeiing Matlock Methodist & United Reformed Church Council Mallock Methodist & United Reformed Church Council Matlock Moor Church Council Matlock Moor Church Council 48 Mike Haynes Rep to Circuit Meeting 49 Alan Piper Christine Diane Piper Gillian Chatto Rep to Circuit Meeting Rep to Circuit Meeting Rep to Circuit Meeting Rep to Circuit Meeiing Rep to Circuit Meeling 50 From 11th March 2024 51 Nether Heage Church Council Nether Heage Church Council Ripley Church Council 52 Karen Julie Morfey Karen Biggs 53 Page 3
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 54 Elaine Grout Rep to Circuit M*ting Rep to Circuit Meeting Rep to Circuit Meeting Ripley Church Council Ripley Church Council St. Andrew's Church, Langley Mill. Church Council Tansley Church Council 55 Scott Handbury Anne Brown 56 57 Peter Charles Norman Rep to Circuit Meeting 58 Sylvia Nom)an Irenè Bourne Rep to Circuit Meeting Rep to Circuit Meeting Tansley Church Council United Church of All Saints, Stanley Common. Church CounGiI Wellspring Church, Wirksworth, Trustees 59 60 Sheila Ivy Redfern Rep to Circuit Meeting 61 Susan Margaret Watts Rep lo Circuit Meeting Wellspring Church, Wirksworth, Trustees 62 Alan Hickingbotham Andrew John Pierson Rep to Circuit Meeting Rep lo Circuit Meeting Rep to Circuit Meeting Circuit Safeguarding Officer West Hallam Church Council West Hallam Church CoLtncil 63 64 Lesley Ann Tooley Anne Kettlew811 West Hallam Church Council 65 Mid Derbyshire Circuit Custodian Trustees Trustees for Methodist Church Purposes (TMCP) is the legal owner and Custodian Trustee of all Methodist Model Trust property. Trust property is held for and on behalf of local Managing Trustees who are responsible for the daY-tdaY management of trust propety. The Managing Trustees act under the guidance and direction of TMCP and thus comply with charity law and Methodist law and policy. as determined by the Methodist Conference. Name and Address of Auditor David Mellor FCA Johnson Tidsall Chartered Accountants & Ststutory Auditor 81 Burton Road Derby DE1 1TJ Name of Su erintendent Minister Rev Ann Anderson Page 4
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Ob'ectives and Activities Summa of the Pur ses of the Cha ' as set out in the Govemin Document 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 accordan 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 organization 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 Summa of the Main Activities in Relation to the Pur oses of the Chari The Members of the Circutt Meeting are the Managing Trustees for the shared resources (e.g. manses, other properties, financial assets and personnel) related to the group of Methodist churches known as the Mid Derbyshire Methodist Circuit. At the end of August 2024, the circuit had 18 Methodist worship centres and 4 Local Ecumenical Partnerships (LEPS) in its geographical area. The Methodist worship centres at Marehay and Waingroves are managed by a single Church Council: the others all have their own Church Council. For worship, a quartedy preaching plan is produced to ensure regular acts of worship take pla in all the worship centres" all the acts of worship are open to all people. without charge. The circuit also provides monthly services of worship at Maple Leaf House in Ripley, a purpose-built MHA nursing home for people with dementia. Circuit services are organised from time to time to encourage worship and fellowship for the whole circuit. and new styles of worship are offered with the intention of engaging people in the community, especially children, young people and families. For mission, the Circuit Mission Plan VRS updated and adopted by the Trustees in December 2023. The Mission Plan is based on the Nottingham and Derby District Mission Plan and focuses on the key components of A Methodist Way of Lrfe, a resou prodUd by the Methodist Connexion to help people on their journey of discipleship. The Circuit Mission Plan includes.. events and activities to build relationships within the circuit and to deepen faith. exploring spirituality wtth people on the periphery of the churches. offering hospitality and activities to engage people in the local communities. and providing training opportunities. The Circuit Mission Plan will continue to be reviewed and updated regularly. Public Benefrt We confirm that the Managing Trustees have had regard to the Charity Commission's guidance on public benefit. The document The Five Golden Rules of being a Trustee. from the Methodist Church, is issued to everyone who becomes a Trustee. The Circuit Mission Plan will continue to be reviewed regularly by the Trustees so that tt continues to set OLrt activities which support the purposes of the Mid Derbyshire Methodist Circuit. Page 5
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Achievements and Perfonnance Summa of the Main Achievements of the Chari Circuit Worshi and Pra er Muddy Church Muddy Church continued once a month during the yeaT. Individuals and families from church congregations and on the periphery of church have attended. It is a Pla for people of all ages to gather outdoors and to connect with the Spa and with God. The intention is that the time together will be fun and engaging and it is a place to enjoy creation. nature and being together. As well as a different venue being explored each month on a Sunday aftemoon, this year there was also a Muddy Church Campout at Bonsall Camp over a weekend in June. Forty-three people attended, including eleven volunteer helpers. The theme of the weekend was Restoration. based on the stories of Jesus and Peter. There was a range of faith experience, with some people having very little faith. Everyone who went was happy with the event and there was a great feeling of fellowship. Rooted This quarterly event has continued throughout the year at different venues in the circutt. It is a contemporary worship event, including testimony, prayer, active worship and a simple meal. This year, one of the venues was an outdoor event. Christianity Month May 2024 was designated as Christianty Month in the Nottingham and Derby Methodist District. The circuit had two initiatives to join in with Ihis.. 1. Thy Kingdom Come is a global ecumenical prayer movement that invites Christians around the world to pray from Ascension to Pentecost for more people to come to know Jesus. The circuit held a 2417 prayer event from 9th to 191h May, wtth people in the churches praying either alone or in groups at home or in their church for half-hour sessions. It included a period of one hour praying via Zoom. 2. The circuit had a Prayer Calendar for the month of May: each church, each Minister and other groups in the circuit were allocated one day in May. They wrote a prayer or prayer points which were put on the circuit Facebook page and the circuit website on the relevant day, along with a photograph relating to the church or people. Cliff College Festival Several people from the circuit attended CliffFest in May 2024 at Cliff College. a Christian theological college in Calver. Derbyshire. The 2024 festival was called Rerouted and included worship, teaching and activtties for all ages. servIs of Celebration and Commemoration These services have been of a traditional nature. except the Circuit Praise SeNice: circu Advent Celebration Circuit Ash Wednesday Service World Day of Prayer Service (ecumenical) Circuit Celebration Service for a Local Preacherfs 60 years of preaching Circuit Easter Offering Dedication Service Circuit Praise Servi Open Air Songs of Praise Service Page 6
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Monthly Prayer servIs Weekly Prayers via Zoom Discipleship An Advent Ref]ection for Preachers and Worship Leaders led by Rev Ann Anderson, the Superintendent Minister. Ministers and Local Preachers preached on the book of Genesis in some churches during June 2024 as part of the national Bible Month. Circuit Mission Reimagining the Circuit Members of the circuit churches met together three times during the year to consider the mission of the circuit. The Dwelling Place A Wami Space was offered at The Dwelling Pla during the winter months. This was changed to a free food café., a free lunch is offered on Fridays frorn 1 O'clock and the Food Cabin is open from 2.00pm to 4.00pm where a family can buy 10 items for £5 or 15 items for £7 for a family of 6 or more. The Circuit purchases food from Fareshare and from local supemiarkets. The Food Cabin is not a foodbank; however, one emergency food parcel can be given to a family if they have not reiVed benefits and have run out of money. A monthly Memory Café, for people living with dementia and their families, was started and ran for about six sessions. A Toddler Group also ran for a few months. Unfortunately. everything except the Food Cabin and free lunch had to stop running when Deacon Michaela Doherty's appointment was curtailed because of her ill health. A Family and Outreach W0er. Rachel Barclay. was appointed to continue the work at The Dwelling Pla. she began working in the circuit on 1st August 2024. The circuit planned to start a new Toddler Group in September 2024. There was no worshipping community at The Dwelling Place during the year but a Tea Time Church service was planned to start in September 2024. A Craft Group continues to meet at The Dwelling Pla. Methodist Women in Britain meeting for the wider Methodist community took Pla there. as well as meetings for the Circuit. Big Questions of Faith A group of people started meeting during 202312024 for coffee and cake, using the Methodist resource Conversations Against Mundanity to discuss the bigger questions of life and faith. The group started with a few non-church people and about five church-goers in support. Some of the church-goers dropped out which left a small number of people with limited support. It was decided that the group would not continue meeting; but the leaders keep in touch wth the members and they meet in other contexts. One non- church person has a passion to reignite the group" it is hoped that appropriate support can be found. Mission Weekend A Mission Weekend took pla on 14° and 1P October 2023. On Saturday 14th October a Duggie Dug Dug Circus Praise Party was led by Doug Horley. who is a well-known song writer and has a national and intemational ministry with children. This was aimed at primary sch1 children and their families but was open to all. Approximately 60 children and 100 adults attended. On Sunday 15° October a circuit all-age service was led by Doug Hodey; about 120 people from across the circuit attended the seNice. Page 7
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Follow the Star An Epiphany Trail was provided at two churches in the circuit on 61h January 2024. It was based on the story of the Wise Men's journey and included crafts, activities, refiection and prayer. This was aimed at families but was also suitable for individuals. Events for Adults Guy Willcock, a Community Partnerships Manager with The Leprosy Mission, came to speak to a group of people from the churches about the work of The Leprosy Mission. A mission event for adults, with a speaker, was planned but had to be postponed because of ill health. Coach Trip About 240 people travelled on five coaches to Scarborough in August 2024. There were church members and people on the fringe of the church and 65 children were included. Each child was given £5 to spend and younger children also reiVed an activity bag. Trainin The circuit has provided training as follows: Safeguarding training was provided in the Circuit and the District. Training vrfas completed by those people in circuit and church roles requiring such training. Equality, Diversity and Inclusion (EDI) training has been completed by Worship Leaders as well as the people who did the training during the previous year. People who take up roles requiring this training will complete the training online. Food Hygiene and Allergy Awareness training was completed by 11 people from local Methodist churches. this is in addition to the 75 people who completed the training during the previous year. 24 people achieved a QNUK Level 3 Award in Emergency First Aid. The Trustees wish to make sure that there is someone with first aid training at every circuit event or servi. The Mid Derbyshire Methodist Circuit had a new website created in 2020 by Thenmedia. Their Chrestos software is also used for making the quarterly preaching plans. sin 2020, there have been a number of new circuit staff members so 5 people were trained this year on the use of the cloud technology and website provided by Thenmedia. Data Protection The Circuit has fulfilled its responsibilities regarding the General Data Protection Regulation. The Privacy Policy, from the Methodist Church, is available for the public. The Circuit Data Protection Annual Checklist was completed and retumed to the Trustees for Methodist Church Purposes. Circuit Staffin The Circuit welcomed one new minister in September 2023." Rev Tim Simms, a Circutt Minister. At this time, the Circuit had 4 Ministers: 3 Presbyters and a Deacon. Deacon Michaela Doherty requested her appointment should be curtailed because of ill health in November 2023. the request was accepted by the Circuit. Rev Helen Penfold agreed to continue working full-time for the remainder of her appointment. i.e. until 31st August 2026. The responsibilities of the Circuit Property and Facilities Manager role were reconsidered and the post was readvertised as a full-time role. Four other Lay Employee roles were also advertised during the year: a Farnily and Outreach Worker, to be based mainly at The Dwelling Place,. a Local Lay Pastor, to work in three churches in the circuit. a CAMEO (Come And Meet Each Other) Worker, focused on working with people aged 55 and above. and a Youth, Family and Children's Worker. The Family and Outreach Worker, Rachel Barclay, began wod( at The Dwelling pla and at St. AndreWs Church, Langley Mill. in Page 8
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 August 2024. Philip Stainer was appointed to the role of Circuit Property and Facilities Manager., he will start work in the Circuit in November 2024. Anne Welch was appointed to the role of Local Lay Pastor., she will start work in the Circuit in October 2024. Circuit Pm ert During the year, five houses which were not needed for ministers, housing were put up for sale. Three of the houses have been sold and the sale of the other two houses are expected to be completed in the early part of the 2024-2025 connexional year. The proceeds of the sale of one house will go towards the Ilkeston Methodist Church propety project: the upgrade of the Wilmot Street building. The proceeds from the sale of the other houses will be used for mission, including an ea) project. The Methodist Church has a target of becoming a net zero carbon emissions church by 2030. the plars is called Action for Hope. As part of this plan in the Mid Derbyshire Circuit, the proceeds from the sale of the house in Loscoe will go into a fund to set up a missional eco project to help church buildings and ministers, manses to be made carbon neutral. Churches will need to apply for a grant with a robust mission statement. One third of the cost of a project may be given as a circuit grant. the church should provide one third of the cost and should apply for a grant from the District or from an extemal source for the other third. Building projects are ongoing in three churches in the circuit. The Nottingham Road church building in Ilkeston has been sold and the money from the sale is being used to refurbish the Wilmot Street building, where the congregation is now worshipping. The levy on the sale may be reclaimed for the work on the Wilmot Street building. The Belper church hall has not yet been sold" work will begin during the next connexional year on upgrading the kttchen facilities. The church and the hall at Darley Dale Methodist Church are separate buildings and part of their building project is to link the two buildings together to enable them to be used more flexibly and to create easier access. A request for cessation of worship at Cromford Methodist Church was to go to the District Synod on Saturday 21# September 2024. It has been suggested that it would be better to sell the church with outline planning permission. The Circuit Property and Facilities Manager will be asked to do this when he starts work in the circuit in November 2024. The Circuit Office was tidied. decorated and refvmished by a group of volunteers from one of the circuit churches. It can now more easily be used for meetings in the circuiL Future Plans Tea Time Church services will begin at The Dwelling Place in September 2024. There will be a Circuit Celebration Service to admit Rachael Walker as a Local Preacher and to Trlebrate 60 years as a Local Preacher for David Gent and 70 years as an ordained minister for Rev Kenneth Cupit. mission event for adults with Paul Kerensa, a Christian comedian, is planned to take place in September 2024. It was agreed that another Mission Weekend, induding a Praise Paty and Circuit Atl-Age servi would take place in November 2024. The Circuit Stewards will review and re-advertise two Lay Employee roles: the CAMEO (Come And Meet Each Other) Worker, focused on vdorking with people aged 55 and above. and the Youth, Family and Children's Worker. It was agreed that a Circutt Holiday Club will tske pla during the February 2025 half-terni school holiday. Play it by Ear. a drama group. has been booked to lead this. An Alpha Course did not take place during the year but it is hoped to run an Atpha Course at The Dwelling Place during the year 202412025. Page g
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Financial Review The Financial Position at 31" Au ust 2024 At the end of the year. on 31st August 2024, the net deficit for the year on the General Fund was £693,812. A transfer of £997,926, representing the proceeds of the sale of three properties, was made from the General Fund to the Circuit Model Trust Fund. The balance on the General Fund was £2,574,078. The net surplus for the year on the Circuit Model Trust Fund was £230.680 and the balance was £1 ,130,891. This can be used for a variety of purposes, along with the properties managed by the circuit; it includes a balance of £533.328 designated for the purpose of reserve projects. There is a separate restricted fund which is designated for the sole use of The Dwelling Place. Properties were valued as follows.. Freehold Properties £1,176.770. Investment Properties £1.255,000. During the year, £200.000 was transferred from the Circuit Model Trust Fund to the General Fund to contribute to stipends, salaries, general rna1ntenan and administration. Polic for Holdin Reserves The Reserves Policy for the Mid Derbyshire Methodist Circuit is to hold a sum equivalent to 6 months, average expenditure in the General Fund. This should be sufficient to meet any unforeseen rtem of major expenditure on manses andlor to be able to continue, in the short term, to fund planned activities in the event of the closure of a large church or an inability to raise the full assessment from churches. It is necessary to hold sufficient working capital to enable the payment of stipends and salaries, business expenses for the Ministers and Lay Employees and our contribution to the Nottingham and Derby Methodist District. Amount of Reserves Held £2,574,078 was held in the General Account at 31* August 2024, of which £2,434,348 is represented by freehold and investment properties. This results in a balance on free reserves of £139,730. Free reserves are defined as the total fund balance less fixed assets. Total expendtture on the General Fund for the year st ended 31 August 2024 amounted to £432.917. If the reserves policy of 6 months is applied, this gives an amount of £216.459 and indicates a potential shortfall of funds of around £77,000. The shortfall was to be made good by a transfer of funds from the Circuit Model Trust Fund to the General Fund. Pa and Remuneration The circuit paid the stipends for the following Ministers for the whole year.. Rev Ann Anderson, Rev Helen Penfold and Rev Tim Simms. Deacon Michaela Dohews stipend was paid by the circuit until her appointment was curtailed in November 2023. The circuit paid the salaries for the following Lay Employees for the whole year: Judith Milner, Roanna Pilsbury and Gill Stamp. Rachel Barclay was paid from 1st AugusÉ 2024. All Ministers and some Lay Employees are required by the constitution of the circuit meeting to be trustees of the charity. All the Ministers and Lay Employees named above. except Rachel Barclay, also seNed as trustees; they did not receive any remuneration for being trustees. The authority for the circuit to pay the stipends of Ministers and the salaries of Lay Employees who are also trustees is contained in the goveming document. Deacon Michaela Doherty's stipend. Roanna Pilsbury's salary and Rachel Barclay's salary are paid from funds for mission work in the circuit. Page 10
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Risk IAana ement The circuit is largely risk averse but is prepared to underwrite considered risks when embarking on new and imaginative initiatives. A Risk Management Policy, including a Risk Register, was adopted in December 2023. It will be reviewed annually and approved at the first Circuit Meeting of each connexional year. Risks are managed by: being aware of them; quantfying their impact in terms of possible reputational, structural and financial damage. insuring against them. and minimising them by not taking them or by setting up control systems that promptly report any significant change in the risk. Risks are considered by the Circuit Leadership Team. which tskes professional advi as required. Risks for the circuit are outlined below. 1) The circuit relies on the assessment received from the churches to fund its commttments, including stipends and salaries. Failure by a church or churches to pay part. or all, of their assessment Uld limit the circuit's abilty to further its Mission Plan. The circuit has a consultation process with Church Treasurers before setting the assessments to redu the likelihood of this happening. There is a risk that some churches will struggle financially because of the st-of-[lv1ng crisis. 2) There is also a financial risk from the closure of a church or churches. There would be costs involved in interim maintenance or if planning perMIOn is sought for change of use before the sale of a church building. And the church would no longer contribute its share of the circuit assessment. It has been suggested that the Cromford church building is sold with outline planning permission 3) Risks regarding safeguarding are managed through the safeguarding prOdureS which are in place at circurt and church level, including DBS checks and mandatory training; the circuit has a safeguarding policy. Funds might be required rf abuse is identled, although insurance policies would normally cover this. Goin Concern The trustees have reviewed the circumStanS of the circuit and consider that adequate assets and resources continue to be available to fund its activities for the foreseeable future. The trustees believe that they have put suitable measures in place to ensure that the charity will continue to operate and develop its activities. The trustees therefore believe that the preparation of the annual report and accounts on a going concern basis is appropriate. Princi al Sources of Income and Main Items of Ex In the 2023-2024 accounts: £256,839, which is 47.8 % of the circurt's general unrestricted income, was provided by the local churches. £200,347, which is 46.3 % of general unrestricted expendÉture, was on pay and related costs. £57,904, which is 13.4 % of general unrestricted expendtture, was on propety maintenance, including manses and other circuit propety. £744,719 was spent on worship centres during the year. Of which £390,000 was spent on the Ilkeston church project, with the remainder being spent on property improvements and Levy's. £68,556, which is 15.80/0 of general unrestricted expenditure. is our contribution to the Nottingham and Derby Methodist District. part of this is used to fund the work of the viider Methodist Church. During the year, income of £997,926 in the Circuit Model Trust Fund was generated from the sale of 0 manses and one investment property- A total levy of £327,170 was paid on the sales. Money charged as enditure Page 11
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 a levy goes into the Connexional Priority FurKI and is Fedistributed to support other projects in the Methodist Church. Changes in the economy improved the circUmstanS of the Methodist pension scheme so donations made to the Pensions Reserve Fund were retumed to the donors; £15.000 was returned to the circuit. The Trustees agreed to reduce the assessments from the churches by 20 % for the year 202312024. The Circutt Leadership Team proposed that the assessments for 202412025 should be reduced by 101 but that assessments should not be reduced in the following years. Page 12
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Structure Governance and Mana ement ConstitLrtion and Govemin Documents The charity is unincorporated and is govemed by the Methodist Church Act (1976) and the Deed of Union (1932). It was registered with the Chartty Commission on 1st September 2014. Trustee Selection Methods Trustees are appointed by local churches and existing trustees in accordance with the modified constitution under Section 58 of the Constitutional Practi and Di&plIne of The Methodist Church, which was implemented on the foation of the Mid Derbyshire Methodist Circuit on 1st September 2014 and amended on 1 St September 2017. Circuit Ministers are automatically trustees. Trainin of Trustees The Mid Derbyshire Methodist Circuit follows the policies, prOdureS and guidance produced by the Methodist Connexion, including Safeguarding, Data Protection and EDI guidance. Creating Safer Space safeguarding training and EDI training was provided in the Circuit. The Five Golden Rules of Being a Trustee leaflet is sent to all Managing Trustees. Guidan from the Charity Commission, including the Charity Commission News emails are sent to all Managing Trustees. Page 13
MID DERBYSHIRE METHODIST CIRCUIT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024 Declarations The Trustees declare that they have approved the Trustees, Report above. Signed on behalf of the charity's Trustees. Signature Full name Ann Miller Anderson Position Superintendent Minister Date Signature Full name Judith Anne Milner Position Secretary of the Circutt Meeting Date Page 14
REPORT OFTHE INDEPENDENT AUDITORS TO THE TRUSTEES OF MID DERBYSHIRE METHODIST CIRCUIT Opinion We have audtied the financial statements of Mid Derbyshire Methodist Circuit (the 'charity'} for the year ended 31 August 2024 which comprise the Ststement of Financial Aciivities. the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of SKJnificant accounbng policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kirodom Accounting Standards (United Kingdom Generally Accepted Accounting Practs'ce). In our opinion the financial statements= give a true and fair view of the stsle of the charity's affairs as at 31 August 2024 and of its incoming resources and application of resources. for the year then ended,. have been properfy prepared in accord8nce wrth United Kingdom Generally Accepted Accounting Practice; arKI hav6 been prepared in accordance with the requiremenls of the Charities Act 2011. Basis for oplnion We conducted our audit in accordance with Intemational Standards on AltIng (UK) IISAS {UK}) and applicable law. Our responsibilities under those standards are fijrther described in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the charity in acwrdance with the ethical requirements that are relevant lo otsr audit of the financial statements in the UK, including the FRC'S Elhical Standard, arKI we have fulfilled our other ethical responsibilities in accordance wtth these requirements. We believe that the audit evidence we have obtained is sufficionl and appropriate to provide a basis for our opiniori. Conclusions relating to going Concern In auditing the financial slalements, we have concluded thal the trustees. use of the going concem basis of accounting in the preparation of the financial slalements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or (x)nditions that, individually or collectively, may cast sign¢ficanl doubl on the charity's ability to c4)ntinue as a going concem for a period of at least tsvelve months from when the financial statements are authorisexy for issue. Our respoNsibilities and the responsibililies of the trustees with respect to going Co[eM are described in the relevant sections of this report. Other Infomiation The trustees are responsible for Ihe other infonnation. The other ufftimiat•)n comwises the information included in the Annual Report. other than the financial statements and our Rewrt of the IndepeThJent Auditors thereon. Our opinion on the financial statements does not cover the other infomiation and. except to the extent otherwise explicitly ststed in our report, we do not express any form of assuran conclusion thereon. In connection with our audit of the finanoal statements, our tEsponsibility is to read the other information and, in doing so, consider whether the other infomiatton is materialty inix)nsistent Wtth the financial slalemenls or our knowledge obtained in the audit or otherwise appears to be materially misstated. IF we identtfy such material inconsistencies or apparent material misslalements, we are required to detem)ine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have perfonned. we conclude that Ihere is a material misststemenl of thi5 Other information, we are required lo report that fact. We have nothing to report in this regard. Matters on vA)ich wg are required to report by exception We have nothing to report in respect of the following matters where the CharttÈes {AcLounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion= the infomation given in the Report of the Trustees is inconsistent in any material respect with the financial statements- or sufficient accounting records have not been kept: or the financial statements are not in agreement with the accounting records and retums: or we have not received all the infomiatson and explanats'ons we require for our audr(. Responslbllitigs of trustees As explained more fully in the Statement of Trustees. Ressy)nsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view. and for such intemal control as the trustees detemiine is necessary lo enable the preparation of financial ststements that are free from material misstatement, whether due to fraud or emr. Page 15
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MID DERBYSHIRE METHODIST CIRCUIT In preparing the financial statements. the tnJslees are responsible for assessing the charity's ability to continue as a going con¢em, disclosing. as applicable. matters related to goirKJ concem and using the going concem basis of accounting unless the trustees either intend lo liquidate the charity or to cease operations. or have no realistic attematNe bLrt to do so. Our responslbllities for the audit of the financlal statements We have been appointed as auditOFS under Section 144 of the Charittes Act 2011 and report in acwrdance wrf(h the Act and relevant regulations made or having effect thereunder. Our obje¢lives are to obtain reasonable assurance about whether the financial statements as a whole are free from matertal misslalement, whether due lo fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level ol assurance, bul is not a guarantee that an audit conducted in accordance with ISAS {UKI will a5ways delecl a malerial misststement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate. they vId reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or nOn-cmpliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. as we wll be less likely to become aware of instances of non- compliance. The risk is also gfeater regalding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omission or misrepresentation. The extent to which our procedures are capable of detecttng irregularrbes. including Iraud is detailed below: Irregularpties, including fraud. are instances of non-c£smpliance with laws arnl regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The exlenl to which our procedures are capable of detecting irregularities. inclLNJing fraud is detailed below: In identifying and assessing the risks of material misststement in respect of irregularities. including fraud and non-compliance with laws and regulations. we considered the folkJwing-. -The nature and control environment of the charity -our discussions with management and govemance including whether they had knowledge of any actual, suspected or alleged fraud -The internal controls lo mitigate the risks of fraud Following our review, we have identified Ihe following areas which are deemed to have the greatest potential for fraud or material misslatemenl wilhin the financial statements-. -The recognition of rental income from freehold invesbnent properties -The recognition of assessments from churches -The valuation of estimates in respect of freehokl investment propeities -The valuation of finanryal investments -management override We also considered any laws and regulalK)ns that were ntral lo the operation of the charity including charity law and employment law. The following procedures were undertaken in respect of the Tf5ks where we identified the wtenlial for material misslalement: At the planning stage of the audit, we reviewed controls pul in place by the board of trustees. We also carried out 8 VIeW of the minulgs of trustee meetings. Income Imnsaclion testing was performed to test cnmpleteness of income. This included agreeing rental income to leases in respect of freehold investment properbes to ensure that all propeities received regular income in the year. We also carried out a review of monthly assessments from churches which are set by an annual budget. Where there were periods of no income in respecl of freehold investment properties we referred to period statements from managing agents appointed by the trustees and Trvstees, Board minutes to justify the reasons for thi5. In respect of assessments on churches. we referred to Trustees. Board minutes to justify any non paymenls and carried out a subsequent events review lo detemiine any debtor balances cleared after date. Page 16
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF MID DERBYSHIRE METHODIST CIRCUIT We test8d the valuation of estimates in respect of freehold investment properb"e5 by obtaining a trustees, valuation. The valuation of investments was tssted to reports from the Centr81 Finance Board of the Melhodisl Church. Freehold properties held at deemed cost or valuation were tesled to tnjstees. waluations for any indications of impaimient. None were identified. Consideration was given to the relian on the use of experts in respect of the management of the rental investment properties. Journal entries were remewed for appropriateness and enquiries made of management as to the procedures in place for posting joumal entries. During our audit we considered any large. unusual journals or transaction5 outside the normal course of business. Very fewjoumals were posted in the year. The finanaal statements were reviewed alongside our disclosu checktists to identify any unusual or unexpected relatsonships or any areas of non-compliance. Discussions We heKI w¢lh management where it was wnsidered additional disclosu5 were required. We remained alert to any indications of fraud. material misstatemenl or non-Q)mpliance with laws and regulallons throughout the audtl including those relating to the financial statements. A further descript¢on of our responsibilities for the audit of the financial statements is locat9 on the Financial Reporting Council's website at www.frc.org.uklaudttotsreswnsibilities. Thts description fomis part of our Report of the lThJependent Auditors. Use of our report This report is made solety to the charity's trustees. as a t¥Jdy. in accordan with Part 4 of the Charities {Accounts and Reports) Regulakn"ons 2008. Our audr( work has been undertaken so that we might state to the charivs trustees those atters we are required lo state to them in an audFtors' report and for r¥) other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the charity's trustees as a body, for our audit work. for this report, orfor the opinion5 we have fomied. Johnson Tidsall Limited Chartered Accountants & Statutory Auditor 81 Burton Road Deffoy Derbyshire DE1 1TJ Date: ............................................. Page 17
MID DERBYSHIRE METHODIST CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Circuit Model Trust Fund Unrestricted nds Restricted fund Total funds Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 4.401 4,401 200,867 Charltable activities Assessments on churches Worship cenlres Mission and outreach 256,839 256.839 151,158 4,466 270,606 103,308 151.158 4.466 Investment income Other income 46,311 233,881 55.835 102.140 234.081 108.946 11.533 200 Totsl 537.031 206,993 9,067 753.IVJ1 695,260 EXPENDITURE ON Charitable activities Assessments on churches Worship centres Mission and outreach 413,270 2.000 413.270 744,719 44,864 504,416 19,156 75,853 742,719 44.864 Other 10 17.647 37.832 55,479 98.196 Total 432.917 780.551 44.864 1.258.332 697 621 Net gainsllk)sses) on investments 6.312 90,384) NET INCOMEIIEXPENDITUREI Transfers between funds 104.114 797.926 (567,246) 797,926 (35,797) {498,929) (92,7451 19 Net movement in funds (693,812) 230.680 (35.797) {498.929) (92,7451 RECONCILIATION OF FUNDS Total funds brought forward 3267,890 900,211 125,014 4.293.115 4,385.860 TOTAL FUNDS CARRtED FORWARD 2.574.078 1.130.891 89.217 3.794,186 4,293,115 The notes form part ofthese finanaal ststements Page 18
MID DERBYSHIRE METHODIST CIRCUIT BALANCE SHEEr 31 AUGUST 2024 2024 2023 Circuit Model Trust FurKI Unrestrict1 funds Restricted fund Total funds Total funds Notes FIXED ASSETS Tangible assets Investment property 14 15 1.179,348 1255,000 28.568 1,207,916 1,255,000 1,651,171 1,605,000 2,434.348 28.568 2,462,916 3.256,171 CURRENT ASSETS Debtors Investments Cash al bank 16 17 78.145 3,701 65,795 1.096,618 3,822 85.668 6S,795 1.237.657 48.682 59,483 982.2Q9 84.212 56.827 162,357 1.166.114 60.649 1,389,120 1,090,374 CREDITORS Amounts falling due within one year 18 {22,627) (35.223) {57,850) 153,4301 NET CURRENT ASSETS 139,730 1.130.891 60.649 1,331,270 1,036,944 TOTAL ASSETS LESS CURRENT LIABILlEs 2,574.078 1.130.891 89.217 3,794,186 4,293,115 NET ASSETS 2.574.078 1.130.891 89.217 3.794.186 4,293,115 FUNDS Unrestricted funds Restricted funds 19 3,704.969 4.168,101 125,014 TOTAL FUNDS 3.794.186 4.293.115 The financial statements were approved by the Board of Tnjstees and authorised for issue on . and were signed on its behalf by.. Trustee The notes fi)m part of these )Inanaal ststements Page 19
MID DERBYSHIRE METHODIST CIRCUIT CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 740.045) Net cash used in operating activities 740.045 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Sale of investment propety 12.433) 656,137 341.789 (40,0461 Net cash pn)wded byllused in) investing activities 995,493 Change in Cash and eash equlvalents Sn the reportlng period Cash and cash equivalgnts at the beginning of the reporting period 255.448 149,5451 982.209 1,031,754 Cash and cash equivalents at the end of the reporting perlod 1.237.657 982.209 The notes fomi part ofthese finanual slatements Page 20
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2024 RECONCILIATION OF NET EXpENDuRE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Nèt expenditure for the reporting period {a$ per the Statement of Financial Actlvltles} Adjustments for: Depreciation charges {Gain)Ilosses on investments Pmfit on disposal of fixed assets Increase in debtors Increasel{decreasel in credito {498.9291 192,745} 8,188 (6,312) (210,426) {36,986) 4,420 10.113 90,384 17511 16,500 Ngt Cash used In operatlons 740.045 9,499 ANALYSIS OF CHANGES IN NET FUNDS At 119123 Cash flow At 3118124 Net cash Cash al bank 982.209 255.448 1.237,657 982209 255.448 1237,657 Llquld rgsources Deposits included in cash Current asset investments 59.483 6.312 59.483 6.312 65.795 Total 1 041.692 261.760 1,303.452 The notes fomi part of these finanaal statements Page 21
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 STATUTORY INFORMATION Mid Dert)yshire Methodist Circuit is a charity registered in England and Wales. The charity's, registered charity number and registered office address can be found in the refere0 and administrative details of the Report of the Trustees. ACCOUNTING POLICIES Basis of preparing the flnancial ststements Th8 financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102} 'AccountiThJ and Reporting by Charities.. Statement of Recommended Practice applic8ble to charities preparing their accounts in accordan wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191,. Financial Reporting standard 102 The Financial ReportÉThJ StarKSard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of rtain assets. The currency basis for the preparat¥)n of these finan(ial statements is pound steding {£1. Going concern The trustees regulady monitor the charity's reseNes policy, risk assessment and cash flow to assess the viability of the charity. The trustees have sold, and are in the process of selling sorne of its manses and investrnent properties. Proceeds of sale will be set aside lo meet the ftjture plans of the trustees.To date, no material uncerlainties exist that would affect the preparation of the financial ststemenls on a goiNJ o)ncem basis. Signifi¢ant judgements and ostimates The following judgements (apart from those invofving estimates) have been made in the process of applying the charity's accounb'n9 policies that have had the mosl signfficant effecl on amounts recognised in the financial statements.. The key source of estimation uncertainty in the financial statements is investment propety valuation. The investment properties were infomially valued by a professional valuer in the year ended 31 August 2023. The valuation is considered annually by the trustees and they have nfIrmed no charKJes as at 31 August 2024. Income All income is re(x)gnised in the Statement of Finanaal Activities once the chartty has entiuemenl to the funds, it is probable that the income will be reiVed 8Th1 Ihe amount can be measured reliably. Donations, legaeS and similar incomiNJ resources are induded in the year in which they are reIvable, which is when th8 charity becomes entitled to the resource. Rental income and assessments on churches Includ in the period to which it relates. Amounts received in advanco are deferred to the following period. Income from investments and interest on srt term deposits is ac(x)unted for in the year in which tt is receniable. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commitbng the charity to that expenditure. tt is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured lIablY. Expenditure 5s aco)unted for on an accruals basis and has been classffjied under headings that aggregate 811 cost related lo the category. Where costs cannot be directly attributed to Particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants Grants made by the Circuit from its own funds are recognised in full at the time of agreement or whell the Circuit accepts that there is a legal or operational obligation to make the payment. VAT The Circuit is not registered for VAT and all input VAT is charged with the expenses to which it refers. Page 22
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES - continued Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings straight line over 5 years and Straight line over 15 years Tangible fixed assets are capilalised if they have a lrfe exceeding one year and a cost of at least £1.000. The freehold property is shown in the financial statements at 2015 deemed cost values except for one propety reclassified from the investment propety wrtfolio in the 2023 year. No depreciation is provided on the buildings as the trustees consider that the cuffent residual fair value of the manse buildings is not less than its value as reflected in the financial statements. Should depreciation have been provided, the amount would be immaterial. The properties have been reviewed for impaimient. Investment property Investment prop8rty is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Acb"vities. Investment properties are included al fair value at the balance sheet dale and an infomial valuation has been included for the year ended 31 August 2024 based on estimates agreed by the tnjstees after taking into account the informal professional valuation carried out as at 31 August 2023.. The truslees consider the values of the investment properties on an annual basis in the years where a professional valualton is not carried OUL Current asset investments Financial investments a staled at a fair valuation at the balance sheet date and are revalued annually. Gains and losses on disposal and revaluation of investments are chaffded lo the Stalemenl of Financial Activities (SOFA). Debtors and creditors Debtors and creditors are re(x)gnised at the invoiced amunt after any discount offered. Prepayments and accruals are valued at the amount calculated. Debtors are receivable wthin twelve months and include the September stipend paid in August. Creditors include both sundry expenses and spe(ifully the September assessments recewed in August. Taxatlon The charity is exempl from tax on its charitable 2CtiMties. Fund accounting The charity has unrestricted funds and designated funds. All funds are used to benefit and promote its charitable objects. Unrestricted funds are general furKls that are available for use at the trustees, discretion in fvrtherance of any objectives of the charity. Designated funds are unrestricted funds set aside at the discretion of the trustees for specific purposes. Restricted funds are those donated for use in a particular area or for specAfic purposes, the use of which is restricted lo that area or purpose and the resth"ction ffleans that the funds can only be used for specific projects or aclwities. When donors specify that donations and grartts are for parhcular purposes which do not amount to pre-conditions regarding enlttlement. this income is included in inwming resources of restrict1 funds when receivable. The Trlevant expenditure is then matched as restricted expenditure. Page 23
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES - continued Fund accounting Further explanation of the nature and puTse of eath fund is induded in the Th)tes to the financial ststements. Pension costs and other post-retirement benefits The charity operates a defined contn"butK)n pension scheme. Contributions payable lo the charity's pension scheme are Charged to the Statement of Finanaal Actiwties in the period lo which they relate. Financial instruments Financial instruments are classffied a1 accounted for, according to the substance of the contractual arrar@ement, as either financial assets. financial liabilities or equity instruments. An equity instrument is any contract that ev(derS a residual interest in the a&sets of the company after deducting all of its liabilities. DONATIONS AND LEGACIES 2024 2023 Donations Legacies Grants 401 197,586 2.600 4.000 4.401 200.867 Grants received, included in the above. are as follows- 2024 2023 Derbyshire County Council Amber Valley District CounGil 3.000 1.000 2.600 4.000 2,600 Grants r81ate to the setting up of the food bank at the DwelliTrJ Place. INVESTMENT INCOME 2024 2023 Rents received Short term accounts 43,606 58,540 73,423 35,523 102.146 108,g46 Page 24
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Assessments on thurches Assessments on churches Worship centres Mission and outreach Assessments or share Gmnls Sale of closed churches DwellirKJ Place income 236.194 20,645 151,158 4.466 270,606 103,308 412,463 373,914 Grants received. included in the above. are as follows.. 2024 2023 Methodist Church 20,645 Grant relates to a contribution towards manse adaptation wotk. OTHER INCOME 2024 2023 Gain on sale of langible fixed assets Church sales items and sundry District reimbursement- Deputy Chair Pension repayment 218.637 533 11,QC 15,000 234 081 11.533 CHARITABLE AcTIVlEs COSTS Direct Costs Isee note 8) Support sts (see note 91 Totals Assessments on churches Worship centres Mission and outreach 399.679 742.719 44.864 13,591 2,000 413,270 744,719 44,864 1.187.262 15.591 1 202,853 Page 25
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 DIRECT COSTS OF CHARABLE AcTlEs 2024 2023 Staff costs District assessment Telephone & travel ISUranCe & utilities Ilkeston project maintenan of manses Other Circuit propety costs Mission events and food bank Other expenditure Depreeiation 200,347 395,727 22,010 22.712 390,000 46,770 80,774 20,362 372 8.188 230,232 102,647 17,007 22,258 107,857 101,443 1.868 10,113 1.187.262 593.425 SUPPORT COSTS Governance costs Finance Totals Assessments on churches Worship centres 8,211 5.380 2,000 13,591 2,000 8,211 7.380 15,591 Support Costs. included in the above, are as follows- Flnance 2024 Assessments on churches 2023 Total activiiies Loss on sale of tangible fixed assets 211 Govemancg costs 2024 2023 Assessments on churches Worship cenlres Total activrties Totsl activities Auditors, remuneration 5.380 2.000 7.380 Page 26
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 10. OTHER 2024 2023 Other expenditure Grants and donations Contribubons lo District fund 15.521 4,735 35.223 20,611 58,750 18.835 55.479 98.196 During Ihe year grants were awarded to churches by the Circuit trustees amounting lo £4,735 12023.. £58,750). These were paid from the general fund. Grants are awarded in relation lo specific churth projects. 11. TRUSTEES. REMUNERATION AND BENEFITS Trustees during the year include clergy appoinled to churches wilhin the Cirojit. Stipends and allowances are paid by the Methodist Church for the administral•)n of their duties. Remuneration and benefits paid to Injstees during the year amounted to £132,081 {2023.' £170,655). In addition. salaries of £57,531 12023-. £50,093) were paid to Circuit employees. who are a0 trustees. for administration. accountancy and pastoral seThices throughout the year. Trustees. exp9nses Payments to Iruslees for the reimbursement of expenses. as agreed with the Circuit meeting, amounted to £18,437 {2023: £13,424) in respect of g (2023: 10) tnjslees. Expense payments primarily relate to the reimbursement of travel and office costs. 12. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 158.174 13.549 28,624 181,142 15.298 33,792 230,232 The 2024 gross charge includes removal costs of £nil (2023: £7.683). The average monthly number of employees during the yearwas as follows= 2024 2023 Administration and pastoral salaries Stspends No employees received emoluments in excess of £60,0. The full time equiv81ent is 6 12023: 7} Page 27
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 13. COMPARATIVES FOR THE STATEME1 OF FINANCIAL ACTIVITIES C1Ult Model Trust Fund UnrestricteAI funds Restricted lund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 200,867 200,867 Charitable activities Assessments on churches Worship cenlres 270.606 270,606 103,308 103,308 Investment income Other income 76.730 11.533 32,216 108,946 11,533 Total 358.869 135.524 200.867 695,260 EXPENDITURE ON Charitable activitie5 Assessments on churches Worship centres Mission arKI outreach 504,416 1,833 504,416 19,156 75.853 17.323 75.853 Other r/.845 20.351 98.196 Total 584.094 37.674 75.853 697,621 Net gainslllosses) on investrnents 90,000 3841 90,384 NET INCOMEI(EXPENDITURE) Transfers between funds 1315,225) 174.000 97.466 174.0001 125,014 192.7451 Net movement In funds 1141.225) 176.534) 125,014 192.7451 RECONCILIATION OF FUNDS Total funds brought forward 3.409,115 976.745 4,385,860 TOTAL FUNDS CARRIED FORWARD 3.267.890 900.211 125,014 4,293.115 Page 28
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 14. TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Totals COST Al 1 September 2023 Additions Disposals 1,614.270 60,749 2.433 1,675.019 2.433 437.500 437.500) At 31 August 2024 1.176.770 63,182 1 239,952 DEPRECIATION Al 1 September 2023 Charge for year 23.848 8.188 23.848 8.188 Al 31 August 2024 32,036 32,036 NET BOOK VALUE Al 31 August 2024 1.176.770 31,146 1,207,916 At 31 August 2023 1.614.270 36.901 1.651.171 Freehold land and buildings were valued by the trustees in September 2015. Under transition to FRS 102 these values were adopted as deemed cost. The title to the propertie5 is held on behaw of the Mid Derbyshire Methodist Circuit by the Trustees for Methodist Church Purposes. 15. INVESTMENT PROPERTY FAIR VALUE At 1 Seplember2023 Disposals 1,605.000 350,000 At 31 August 2024 1.255,000 NET BOOK VALUE At 31 August 2024 1.255 000 At 31 August 2023 1,605.000 Fair value at 31 August 2024 is represented by= Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 1,118,455 851,545 1365,000) 350 000 1,255 000 The investment properties were infomially valued by the trustees as at 31 Augusl 2024. The historic cost of the properties is not known. Page 29
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 15. INVESTMENT PROPERTY- continued The title to the properties is held on behalf of the Mid Derbyshire Meth)dist Circuit by the Trustees for Methodist Church PufPOSes. 16. DEBTORS: AMOUNTS FALLING DUE WH1N ONE YEAR 2024 2023 Other debtors 48.682 17. CURRENT ASSET INVESTMENTS 2024 2023 Other 65.795 59,483 18. CREDITORS: AMOUNTS FALLING DUE THIN ONE YEAR 2024 2023 Other creditors 57.850 53,430 19. MOVEMENT IN FUNDS Net movement in funds Trdnsfers belween funds At 3118124 At 119ll3 Unrestricted funds General fund Clrcuit Model Trust Fund Revaluation 2,506,345 900.211 761.545 104.114 (567,2461 (797,926) 797.926 1.812,533 1,130.891 761.545 4.168.101 (463,1321 3,704,969 Restricted funds DweS1ing Place 125.014 {35,797) 89,217 TOTAL FUNDS 4,293.115 498,9291 3.794,186 Nel movement in funds, induded in Ihe above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestrictgd funds General fund Circuit Model Trust Fund 537.031 206 993 (432.917) 780.551 104,114 567.246 6.312 744,024 11.213A68) 6,312 (463,1321 Restrlcted funds Dwelling Place 9,067 (44.864) 135.797) TOTAL FUNDS 753,091 1.258.332 5,312 498,929} Page 30
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 AUGUST 2024 19. MOVEMENT IN FUNDS - continued Comparatives for movement In funds Net movement in funds Transfers between funds At 3118123 At 119122 Unrestricted funds General fund Circuit Model Trust Fund Revaluation 2,557.570 976,745 851.545 1225.225) 97.466 90.000) 174.000 1174.0001 2,506.345 900,211 761,545 4,385,860 (217.7Sg1 4,168,101 Restricted funds Dwelling Place 125.014 125,014 TOTAL FUNDS 4.385.860 92.745 4.293.115 Comparative net movemenl in funds. included in the above are as follows: Incoming Resources expended Gains and losses Movement in funds Unrgstricted funds General fund Circuit Model Trust Fund Revaluation 358,869 135.524 (584.094) 137.6741 (225,2251 97,466 90,0001 13841 90,0001 494,393 {621.768) 190.3841 1217,759} Restricted funds Dwelling Place 200.867 (75,853) 125,014 TOTAL FUNDS 695.260 697,6211 90.3841 92,7451 The Circuit Model Trust fund includes a balance of £533.328 {2023-. £549.9091 which is a desunaled fund for the purpose of ReseNe Projects. The movement in the year represents interest received less payments lo Darley Dale Church and administration (x)sts. This fund is likdy to be utilised further within the next tsvelve months. The funds that support the Circuit Model Trust Fund are held by the Tnjstees for Methodist Church PurFoses ITMCP) n Trustees Interest Funds on which interest is (Trjited on a monthFy basis. TMCP is the legal owner and Custodian Tnjstee of all Mefhodisl Model Trust propety. inctuding accumulated funds. Trust property is held for and on behalf of local managing Iruslees who are responsible for the day to day management of trust propety. TMCP ensure that. through providirvJ guidance and acting under their directi()n, th managing tTuslees comply with charty law and methodist law and policy as determined by the Methodist Conference. Restricted fund: Dwelling Place This relates tr) income from a legacy released by the Trustees for Methodist Church Purposes {TMCPI for the sole used of the church and buildings at Mansfiekl Road, Heanor, DE75 7AQ. Expenditure relates to the repair and maintenance of church buildings and their utilisatK)n for outreach work within the area, including a food bank which CoMmend in November 2023. Page 31
MID DERBYSHIRE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024 19. MOVEMENT IN FUNDS- continued Transfers between funds During the year a transfer of £200,000 was made from the Truste&% for Methodist Church Purposes ITMCPI to the General fund. The funds were released o assist wth funding stipends. salaries and general administt3tion of the charity. In addition, there was a transfer of £997,6 from 1he Gener81 fund to the Trustees for Methodist Church Purposes ITMCPI. This represented the sale proceeds on di5FK)sal of two manses a1 one investment property in the year. The costs of these assets had been represented in the general fvnd but since TMCP act as custodian for the assets, the sales were effected through the TMCP account and they retain the funds for future draw downs as requested by the Circuit, subject to levies paid. The net amount transferred from the General fund to the Trustees for MetdiSt Church Purposes TMCPI amounted to £797,926. 20. RELATED PARTY DISCLOSURES Stipends and salaries paid to trustees in the year are dets1 in note 9 of these financial statements. Page 32