THE NorriNGHAM TRENT VALLEY METHODIST CIRCUIT {Charty Registration No. 1139890) TRUSTEES, ANNUAL REPORT For the year ending 31 August 2024 NOTTINEPL4M TRENT VALLEY METHODIST CIRCUIT CONTENTS OF THE FINANc￿L STATEIENTS FOR THE YEAR ENDED 31 AUGUST 2024 Report ofth• T1￿1 1 to 9 Report ofth• Inthp•ndertAudkorn 10 to 12 statwn¢nt of Fln•n¢W Actl¥Jtl8* 13 8•lanc• Sheet 14 Ca*h Flow Stat•ment 15 Nol•8 to th Cah Flow Statem 16 Notes to the Flnanclal Slknwnts 17 to 31 D•tall•d StatMi•nt 01 Fknanclal Acthltl NOTTINGHAM TRENT VALLEY MEfHODIST CIRCUIT TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 1. Obj•ctiv•s and •ctivilio8 In settin9 our objecD"ves planThThJ our athtw. the Cirrmt Meth"ng Clywe￿S ￿ee t*mes a year. has given carehj Consideral￿n to the C￿¥￿Y Crynm￿SMmWS. gerwal guKlance on p￿)1￿C benefit and, in m'c#Jlar. to its sup*mentary put4￿ tenefit guHtsrKe on a¢fvarKing our objethes. and conforms to the Charitses Act 2011. The has a'mDtto -'BeiTrJ Jesus 15 al we (lo wih all we m•eV Our mission st8tem•nt (adopted in January 20221 ts.. we off* mi)isiry and Ihè lov• of Gtsj to ALL r￿ard•s$ ofgeThl8r, r%•, crttd, agè, abklty, c* sèxual Or￿ntatiOr￿ We simpty seek to to Gc&l's in Jes￿ Clv¢t over the next tlwee yws to ty to achieve the folrM'ThJ Worshlp. Prnyw. l•Mowshlp and sh•ff*7g th• GoodNM wlth thos• w• m••t through outr•ach to our loc&1 communlbe& Yr 1.. To wcrfk doser twher as a C￿11 t*Xh and in pprson. Yr 2.. To plan and host a Cirojrt ¥*•Je 24ts wayer evert. orgar45ed ty the C￿rgY team. Yr 3.. To b8 morè courage￿$ offering praYertrw1￿h a series of street evenb. Yr 1.. 50 peTcent olthe Circurt to be en9¥Jed in ccrtversakn arow Equalty Diver5ty and Inclusion Yr 2.. For 50 percent olthe Circuit ctwri*￿S to be rg9s1w￿J. ￿ 7HorkvvJ Equality. thversity. and Incbjsion Yr 3.. For the reM￿der ol CirrJJit chuld￿ lo be ergaged in cl￿¥￿$ation swrted by ￿se alrèaty register￿, around Equality DN8rs* and I￿￿S1( Cwing and I￿rIng reSpons￿RitY10T Gods wth. Yr 1: For those alre•Jy 5trNing l¢Y"Eco St*us" k7 ¢Y¢cKwe other Ciromt CWes io th $0 throu￿ visiting and ts1￿"￿9 to Ihem. Yr 2.. For m￿e than 50 percent ol &r￿•t CMKc*es to be￿￿kn"n9 toward5 lyonzo stats o¥ at*Jve. Yi 3.. For the Cwcjit to host a Di81rict Ev￿1 cffi beC0￿ry wislered. Guiitsngpeoplo to chrt$rthr￿ dlselpl•shlp. Yr 1.. To be about ow sp¥￿JaI deV*In￿rt through quartety Cwcuil Stuoy days oryanised by ts Clergy tgam. Yr 2.. To offer Alpha cowses. or ￿ *mall￿. in eath seth.￿. hgaded up ty th? Ckn9y team. Yr 3.. the Circuil to be en￿1￿Ing.0pen Ihe b¢th- frryn seth"M. So•klngto •nsUm￿st1¢• for*1. Yr1'. Fu each Chwch to engage wth they kncal MPts aThJ Loca CwrKilkJrs Yr 2.. thè Circuit to eThJa9e in apwopn* kWir#J. Yr 3.. Fty th& Ciroit to a.￿$￿¢& fty af tr)th ottw Cknh&s and k)cal groups. Yr1'. Identty core wacbces of ￿￿entify wthere we in practi￿ in our churches. Yr 2". Ensur• 50% olchJrch6s are Impl￿￿"n9 a gro*th Yr 3.. FUrt￿r èrnbad c(Yé Wact￿S 01￿(1￿h fft at least ￿ ol thjrths. NOTTINGHAM TrENTVALLEY METHODIST CIRCUIT TRUSTEES. AM4UAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 l A¢h1￿•M8￿ts and perfomiance Tr* Cl￿rt Staff trM"s year has of4 tim? c*dw8d stsff *rylh som ¢hanges tsking F4 at thÈ start ol thè yw. Wè emrkny a W Chafv to abngsklè thè ordaitsÈd eh4pl¥iA at the Ur4versities and a cxrAtst administration rnanw. We o￿tract a CiroJTrl ks)urtant. The is now registered as ￿ Eco Fr￿ iThlivithMI thurch&s aro nrmt r•gist8red and fol have achwed ststus. Some churches offer worship ¥ia Zo)m or le￿Orded In *jdiic￿. the cwujit pro¥hles weekly ofvline worty on Sunday tweThThJs. The cir￿￿ exp1x￿1 the p0￿bal ofthe use of Ihe ofLenton method￿ Churth lor use by the Ghan24an Methodist Fellowth'p. HIYA￿￿. tlis thj not (e￿.￿le aThJ the buldirvJ was $ubsgqu¢nUy sold. The CAroJrt to lease OUT marAe at Endslwgh Gar{1w￿ to a of Syrian refvgee5. Durin9 thè year chJrtt*s across Ihè arcuii IHv8 to needs in th•ir l¢)¢al rMiuThth"e$. e.g. Ihwgh off￿"r•j wwm $px¢s. htsslmig focrflb¥&s. Spiritu￿. Social matw•l swrt to reftw seeking asylum aThJ leave to St￿ conlinues to be given by ￿l(￿J5 cfKKches. Support Incl￿ dcth"ng, essent41 travel. phones, bicycles and ovision ol 8ible& &itcasès ￿u$1￿j depo*ts have t*en wen to those moving CAJI of hotels. Erylish ¢la$ses 8nd BitAe le11Jmploted. ¢¢yW¢xs will be iled to tsnthr lor Ihe work. •)d rt is *th"¢yatgd thi5 e¥ty in 2025. Iho time ot struckn worsh"p will take Flace 8ch>Jroyn The Cwcuit's principal S0￿Ce ol inccyne is the assessment rais&Y from the 9 chJches in the Circuit. Each churth contn"bJt•s to asstssm8nl in wos>xb"on to rts nat and mwnbèrship. The C¥￿it'S main items of exFeThYilure are sWKls ol the wesbylers and deacrn, expenses incurred in their ministry. and the mwntenarte ot￿r expe￿e$ Oftt￿ rnanses *there they live. Tl* in¢yease in sty"pend$ in Ihe fThTh)al ￿ was woved at the Methothst Conference. 16% ofexpenditwe Is the Cir¢Jrt C￿l￿￿U￿.0n lo ts Th"stsiGt Conrwicffi. ofvAxh a significJrt part IS Used lo fund the wcrfk Of1￿ Meti)￿ Pthiniès hav• betn raised by sdfin9 ma)s•s churth tu.kty over recent y•ars. Tha Cweurt Lèadèrship ttam ha￿ d•velop•J a MISS￿ A21K￿ FuThJ ¥￿th the foll(￿￿9 purpos•s." Chnstians andlor Methodist M￿terS Inveslment in buihaing wtyks tth¥ar¢J$ the MellKvJst Chw¢h'$ goal of net-zero emi$$itsn$. Investrnent in the improvwDent reptscern￿t of manses. I￿￿d￿￿j wDrk lowards ￿t- zero ernissic￿s. Granis haye been given to thjrths to assistwilh t*Jh8r kn usua ew bills. NO￿INGHAm TRENT VALLEY MEfHODIST CIRCUIT TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 3. R￿•1¥￿ Pollcy The ￿s￿Ve$ pcAry ts the uNestrtsJ ￿neral luThl ts to Mkl a ofone qLWt&sNwyh each of $kn"peThJs, DistrKt assessment and manse related costs ofirtsumce. councl lax and water, Flus ¢￿e qu*t¢rf$ transfer to the manse Maintenan￿ *ccwt This p)ky ts based all indiwdual thurthes hawTrJ a reserves equi￿*￿1 to &rnorth sU9ye51ed by the C¢)rwx￿. aNJ th￿e quarters oftl*rn meetiry this ￿qU￿rnert Th8 feswves FdKy of ihe manse Maintenar￿ ￿nt is to IK4d a miThmum 013 I￿￿th8 of regular *)fKAI 8xpenth"iur•. Olher desi9nated hav• r•sw4•s as lurKk are used fof apwwmle Pl￿P￿s Lmtil Ihey are exhausted. The trustees are mindfijl ol resF￿)n￿1j￿th$ to [￿e other balms in ￿Co[da￿ wfth standing Otders. The reseThes hehj at the end of Ihe year as fc4kr•ts'. Unr•stn"cW General Fund 1.778.044 1.759.838 3.537.882 Circwt Mr*Jel Twst Fund T¢JW unr85tndgd lunds DeS￿nated fuThJs Manse fund B¢eston Devglopmenl FuThJ Trwning fuThJ T(rtal designated funds RestrKle(l fvnds Ch•plairw Fund Total reslricted ff￿d Totsl funds Total uThJesMybated and unrestrKted fwKI$ Less". invested in manses 3,540.172 3.538.864 1.730.096 U￿A)Mm￿O￿ roserv¢s. reality available 1.808.768 4. Pay and Remun•ratlon The cwotht pa￿ the stiFends for fw Mini8tws wmle year. The ¢￿￿j11 paid the salaries ksr three Lay EmF4)yees for the whde year: AJI Ministers and scffle Lay Enwloyees ￿e w￿red by the consbtulion of the meeting to be trustee5 of the charity. All the M￿151￿$ Iwo of the Lay Empkryees akn wved as twustees.. tlw did Tr)t teceive ¥ny reml￿eratiOn lor bel￿ tnjstees. The aLrthority lor Ihe orcuri to pay ihe stiFeTrJs d Mnsters aThJ ￿ saknes of Lay Employees who are also Irustees is c￿tsIne￿ in the do)Jmert NOTTINGPLAM TRENT VALLEY MEfHODIST CIRCUIT TRUSTEES. ATr￿uAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 5. Going concern Thetrustees have rgviewed the ¢rcumstsn¢es ofthe circuit and considerthatadecwate assets and resources continue to be available to fund its athtties for the foreseeable future. The tiustees believe that they have put suit*J18 measures in pLac8 to ensure that the charity will ontinue lo cperale aThJ develop its xtmbes. The trustees therefore believe that the preparation of th8 annual rep)rt and xcounts ￿ a g¢MrwJ concem basis is appropriate. 6. Stst•ment of TnMteM' rosponsibliti•s The trustees are respwble weparThJ the tru5tee5' rewt and the finJKial ststwnenl$ in a¢cordanrA wrth the Urmted kn"ngJom ACco￿￿ng Standarts Iurmted ￿'ngdoM Gerteraly Wed Acoiunting Pracbcel and aprAKable law and re9￿aticffis. The applicable to charities requires the trustees to prepare finanoal statements f¢x exh fwH￿lal yearvthich give a aThJ fair wew of Ihe statè of affars of the chaTty and ofthe inccffi¥vJ iesources a¥J akwhcats)n ofrestyjrces ol the charity for Ihat pÉritsJ. In preparirvJ these fin¥Lid Stat￿ents, the trustee5 we r&wir&Y to: sÈlÈd suitsblè ￿CoUn￿"￿ aThJ then aFth ihem c4YWSteNty. observe th$ m¢thods and prinaples in Ihe Charil'es SORP. m8kejudgernents and esb"mate5 that arè reasonatrfe a)d pr￿￿rt stsle whelher applicable attountiThJ standards have been ftAknwed. Su14"e￿ to arry matèrial departures disdosed and explained in the fin￿141 st*emwts," aTrJ prepare the financaal statements on Ihe wirva ryjncwn ba*$ wless (( 1$ irwppyopriale to presume that tha chafty ￿tinue n business. The trustees are res￿￿ble for keewg prw accgxmtrg rectyd$ Ihal di$cknsg wlh reasonable accuracy at any time Ihe financial pwb'on of the charity and enable Ihtrm to ensu￿ that Ihe financial stalemenl$ COM￿ with th• Chaitiès Acl 2011, the applicable Charities (Accounts and Reports) Regulations. and the provisons of the trust deeds. The truslees are also r¢spon*blo for safeguarding the as$ets of the charity and herL8 for takin9 Tea%>nth steps for the prevention d detectKm of ftaud and other iwulaiities. Training in the respMsl)ilths 0ftrust￿$ ¢ffwed lo all tnths soon after their appointment. Saf•guardl EV￿ person has a value and comes d￿e¢ty fv(Mn Ihe Creation of male and female in God's M image and likeness. Chiistkgns see this tK)tenlia as fvifined ty Gc4J's re-crealK•n of us in Christ. Arncry othèr th.ngs llis imF4ies a duty to t4* all p￿le a5 beariro lh¢ image ol GLKI therelore ts wotect tham from h￿. Methothst connex10n￿ prac￿￿ Ccmnmitrn￿t to the sywiaples care and nurtwe ￿. ond respwlftl Pas￿ nNnistrywth. all thh*en, y(￿j wplo ad￿1$. The safeguar￿￿ and wOt￿￿)n (rf al clikn. peopk * ad￿15 when they vulnerab The establishing ol s*. eAiNJ ecffimurib8s wividè a kmng environment Ythe￿ there is iifr*med w9ilartt as to the cl atmjse. We wll Caref￿ty sekd and traMI al tI￿se reSp￿61t￿"￿ty *ilhin Ihe church. in Ine wrth Salef Re¢nitment wnciples. of￿1m￿￿4 reoxds dtscbwres and rwstration V+ith the relevant vetting barmg schem&& NOThINGHAM TRENT VALLEY METHODIST CIRCUIT TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 We wll respond delay to every crynKl¥)t made 7*hth suggests that ￿ adum, clmld. or youNJ person hwe beon hwmed. c((yw8try Frf)ke aThd I￿01 atrthority in ar invesb'gatKn. We seek to work wth any(rf* 4btrJ has suffw•AI devèbJrAng wth thèm apwowate mM*sty olinlormed past¢yal we. We will seek to Ch*￿e alwe of eskw.aty by anyon• in a position of trLtst We wll seek to offer pastora cwe arnj supm $Upen￿ W r¥f¥ral lo th• proper J￿h0￿be$. to any clthe cOmm￿ty to h8ve offended 8p4r child. young perscffi. crf vulnerat4e athll In all th•sè p￿￿pIeS we tolkA¥ leg'slalpn aThJ wl waclKe. The Noth"ngham Vamsy ¢y¢urt ¢rJnmts rtseifto •nsurin9 Ihe iM￿￿nent￿ of Cornex￿￿ Pc*y. govrnrit IW$Iat￿ft. guidance. and s* th• and In th8 ChUr￿￿S. the provi5vJn ofsupFrt traThrwJ tsy aThJ ordaI￿d peoFde that wil ensure OFle are dear and cmfident abwt they rrdes WKI rosporfy￿l1I￿s Ai saleuwwth.ng arbj promoting the weKwe ol th"l(tren ￿￿1 ad￿ ￿*￿) may be Y￿nerable. 7. Structuro. gov•rnaTru. and manag•mgnl The governNTrJ dwumenl forthe CKcwt ￿ the Oee(I d Urwn {19321 aThJ A4elhc*Jist Church Act (19761. Dètailed governanc* wangerT*nts are ￿11￿￿ ths COn$blLrtw￿a Pixlce and Disciphne of Ihe M6lhodisl Chwch ICPDI by order ol Methc¥Ji81 Confwence. Day to day managemth)t ol the Cirojl is wthrtaken by ts cIr￿¥t Leaderslmp team made up of Cwujit Minisiws. Ihe C*eJJit Stth¥arils. the CKcLMt p£co￿tant, and Ihe Circuit Adrnin￿trat￿. The Circuit is part of Nollwi9ham Derby MatlKJdist Disln"ctand is also ￿Untatle to Ihe ￿et￿)dISt ConferencE. Th? followlng Iklhodl•t chwches are partof th? Clrcult: Beesknn meth￿ti5t Clwrc*. Beeston Breaston MelhcvJist C￿rth. Breaslon Christ Church Methc¢Ji5t Churth, Loro Eat( Grang•weod Mèthodist Clwrth, Wolaton King$wfMJ4 m￿hOth$t Church, Wolaton Sandiacre Methodist Churth. S8ThYiatre Stapleford Methothsl Church. Stapleford Tclon Metbwjdist Churth. T¢X Trnwty MethcJrt Charlty r•glstratlon nwnb•r. 113989). registered irt Englwj W8*s Prln¢lpo1 Offlc•: Stspleford Melhodist Ctsjrth 40 Eaton$ Rd, Stapleford. Nottir¥Jhamshire. NG9 7EA Clrtult Mlnl8t•rn and Offl¢• AdNe Circurt Ministers Revd T¢kny Macdm. Syru*er*Jent Mnister lfrc¥n 1st September 2W231 Revd Checkky Ifrcrtn 1st seN￿ber 2W231 Revd. Arnolj Dixon Dèacon SL4n Street Circuit Stewards s. Gill Watts 1Qh Oclober 2023) tr. Maitin Sykes {until 31st A￿Just 21r241 Ntr. Rithard Collins Ilmtil 31stAugttsi 2024) Ktrs. Ann SarKJers Mr th)hn Watton 31stAwt 2024) Circuit thjsthce Charroion Alministratof Manager MT. Jth HI Mrs. Cheryl Smith Ms. NwiThJer Kwr r& ctykncted as a urcut from Juty 2025. Mèthothst miThsters a￿ appcirted to the ty the meth0j￿1 Cry￿r￿￿e. Cir¢u(( olfi¢ials are appoirtttd by thè Meebng Irom mekn of cthrches WTh"n Ihe circ￿1. Al twslees must L* mernbèrs Ofthè MÉthr•Jist Churth. FLII membership ts sk•)vm A lo tlis reporL NOTnNGHAM TRENT VALLEY MEfHODIST CIRCUIT TRUSTEES. ANNUAL REPORT FOR THÉ YEAR ENDED 31 AUGUST 2024 B#nk•r• CAF Bank Ltd 25 Kings Hil Avem IQNJS H INesl Malling KenL ME194JQ Central Finar￿e Board 9 Bothl Street EC2A4PE Inv•*tm•nt bank•rs *nd eugtodlan tnMi• Trustèes ￿ Methtrthst Church PL*P)SaS C￿ra1 Buildings Crftham Street Manchester M1 1JQ Audltor Jrth￿0n T￿$￿1 Ltd 81 Burton Road Derby DE1 1TJ Payroll ser¥keg Wren Tayatr¢￿ ServrM Lld 4 Cross Street Beestc Noltsngham NG9 2NX NOThINGHAM TRENT VALLEY METHODIST CIRCUIT TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 9. Declaratlon The Truslees. Annual Report VAS approved by Ihe MeatMIg on......... Signed on behalf of the Charity's Trustees: oi EOZS Rev T¢Jiy Makolm Superinlendenl mnisl SenKJr cir￿41 Sleward NOTTINGfriAM TRENT VALLEY METHODIST CIRCUIT TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Appendix A -Tru8ttt8 of the Nottlngh¥An Trent Valley Clrcult from 1st Septwnber 2023 to 31st Augu$t 2024. Staff Rev Tony Makolrn. Superinlendent. lfrun 1st Sèptember 20231 RevAndrew Ch8ck* lfrom 151 Septernbor 20231 RevAvno￿j Dixon R•v Susan Mcfvor Ithstrici S•fe9uardin9 orricerl lunll 31st Aw4USt 20241 Dea￿& Sian Str¢et Grangewood Methodi•t Ch¥￿￿ Mr_ Michael Bannister Mr& Dqys adham (until 31st ￿￿gust 20241 MrAJidy H*t Kkn9StMood Ilethodknt Chufch I￿. Tarsya Cook Mr. Da*d Rar￿d* lUnb"131$tA￿Ust 20241 IAr. John Mostyn Rth Ceu￿te￿nI Lyn N81son Sup•rnum•r• Rev Susan Holmes Rev Mèlaniè Stoodlty (until 31st Auwst 20241 Rev Judi Smart Re¥ A￿n9t0n Trotjnan S•ndi•¢rn M•thodiitChur¢h Mw5. Lyn Haye5 Carol Marshall luntl 31stAugWt 20241 Mi* Pat Modof Mr. John Woo Hekn Newham Cirtuit St&￿1￿* Mr. Martin Sykes lun￿1 31st Awist 2024) Mr8. Gill Watts luntil 101h October 20231 Mr RKhard Collins I￿1￿ 31st A￿Ust 20241 Mrs. Ann Sanders Mf Joh WaAon St*plelord IAethodist Ch¥￿￿ Mrs. Dath Mr. Gothn Pr￿ls0n Mts. J•an Trtwman Mrs Dorothy Teuey Clrcuit Officern Mr. John Hindson Mr. Ray Howard Mrs. Heather RfA Mr5. D3phr* Bal Mrs Traty Shaw Mrs. Cheryl Smth Ms Jo Peek lunll 31st August 20241 Mrs Hannah Knighton Dr Paula Dthvson Toknn Mothodl&tChurch Ms. Jtyjth Coomber IArs. Lothse Lwjrenson lunbl 31st Au9usI 20241 Mrs Hil•ry Crwk rJohTh Bwry Trwmty Mothothtchuffh Mr& 81 Mrs Sfft Bradky Beèjton m•thodi•tChU￿ Mr. Tony Beardsall Mr. Malcolm Wlson Mr. Ray Howard Mr. Andrew Taylor Mr Da¥¥J Lowe Breaston IA•thodi8t Church Mrs. Nan￿ Plummer M￿. Marga￿t stone Mrs Gth Stamp Ilrom 1$1 S•pt•mber 20231 Chrl$t Chur¢h IAgthodistChurch Mr Dawd Brown Ms. Suzanne Brown M155 Paukne 8unts.ng Ms. AIL50n Johnson NornNGHhAq TRENT VALLEY METHODIST CIRCUIT REPORT OF TrIE INDEPENDEKf AUDITORS TO THE TRUSTEES OF NOTTINGHAM TRENT VALLEY METHODIST CIRCUIT Oplnlon have finarwl of Trnrt Valvy melh￿ Cirrgjl Ithe 'chth) lor the yoar ended 31 AugU$I 2024 ¥4hi¢h the sta￿￿t AdNit*s. th8 Baknr*Shaet. the Cash Stateff￿1 and notes to Ihg fman¢ial statemefjts. in¢ludir¥J a summw ¢fSvJnth¢art%¢owtw￿ ￿￿.T￿￿On&al ￿F*￿ItiN)fIXm￿AYlm[thaI ha$been4d￿d in their prepw*iw 15 3ppIKablE and Urted Kvyjryn AGwJrrfrg Starxlard5 (United Kry(km GEnEra￿ A¢wted AccDur4ing PrxtKel. In Our0p￿1￿ the finan(ial ¥t*ments". gNe a Iwe and fair VEW of the ¢A the ¢harty'S ¥ff•its 0$ 4131 2024 ar￿ of it$ ir¢4niffj aThJ app1cath￿ ofrosources. for ts y•ar Ihw w￿¢￿. . ha¥e ba￿ prcpety prepwed in ar£ordan￿ ￿ UTwt•d G•w* Ac<¥￿ Act<4J￿￿1 prn¢￿. and ha¥e teen Prepar￿ in accordancevth th8 requwrnts dth• Char1*5 A￿ 2011. Blah foroplnbon W• conducted our in act0￿¥r*¢ Intemalwt St*xl¥ds M AudrtNIg (UK) IISA$ (UK)) •nd aprkni4e ￿￿. Oyt res￿￿￿.11￿￿5 urKler those slar*laols arE fwlherde5ukned in tsA￿&t￿5. resp￿￿the$ forthe audit of the finanoal stalèmèrnls Section ol our repJrt. we inthpendwl dthe th• **hthe ethral tequMErnents that 4F¥ rekwini ￿ our audit of therina￿l￿ Slalemenb in the LIK. ￿C￿Jdiry the FRQs EthKal Standard. ha¥0 luI￿led ourolh•w èth*•l r•sptsnwknlth?S at￿rdance with these requtrements. IA* bele¥8 Ihal Ihe v4tyYenca PAv•oblaineA ts suffKk?nt aThJ appryn* toprow¢Jg ¥ ba$1$ foF our opiwn. Con¢lu#lon$ Mlaiino to golng t¢￿¢•M In audflI￿ financial statements. ￿ ha* 1101 the tr￿lie¢s. use of tr* gW9 b•sis ol a¢¢OUAity ift tF* PrePW*￿ oflhe knoal st*Thenls Based cffj the work ￿ ha¥e we have rx)t materAI ￿￿erta￿At*S relab.ng to evenls ￿ condth.ons Ihal, indwidualty or colleGtNety. may cast s19n￿ran1 d￿trI ￿ thè abty to a$ 4 go•v4 for a perb>J ol at least mcffjlhs trom vth•n the finarKial 51alemerts Ow r¢spwsiM*ie8 aThJ th• wews*rflil•s oflhe Iws*es tAith rnspod tog)iTh3 (oKwn arè d05criW wi thè rèknnt sedi0￿ of ihls repLyL Oth•r Inform411 The Iruslets are IESPW5ibk> ftK Thè •theT Ihe irlCrfmat￿ indudbj in the Anrwal Report. otherlhan I￿rinanfi¥l sl*merts ¥rKI ow Reptyt Oft￿ IrwJewrfJ•Jii thweon. Our wnionon lhefjnancts￿ siatenxnts does cmrlheolh8w and. axc4pt to t￿eXtent 011￿￿17S8 explatty Sla￿ our report not any of Ihwerth. In ¢onn•¢DM wilkn our ¥￿it Oflhe finan¢d to read the ￿her1￿0M￿lTr)n And. in domg so. consh1¢r whelher the other inf0ma￿¢￿ is rn8kn7a￿ I￿nS￿lert IhB fnwKial 5t*emerts or our krTh•ledge d)tsined in Ihv audrt or ￿t￿￿18t apFears to be matw• M￿5￿ted. Ifwe hlenlrfy matwHI ￿￿onSi51e￿C￿5 or appwer4 material mi55talernents. we a￿ required todelem)ine whetherthis wes nse to a maienal miss1*rnent￿ the fttwrKi&lsiaternents Ihefflsekn. If. based onthe work ￿ have perf0M￿j, ￿ChJdè that Ihe(e s a matemlml5s1atè7￿* ofthiy other ￿f(￿matiOn. we are wired lo repr*ithal I8￿. We h•ve nothirg i)Ihis fftg¥J. Mattsr8 on whlch wo arn to vwrt by excwon We have no1￿r￿ to repert￿ resF•d dthe fdknwgmattetswheretr* Charths{AccrdarKewlhlhe Act and ralevanl reguL2tions made or having eifecl there￿der. Owr objedT4es avv tD obtsii teastsnablè als￿¥r￿• abrA*Trt*tt*rthB T￿111 sla1￿￿115 as ave INee material mi55ta1ew￿nt. y4h8t￿r due lo Ir¥u(¢ rm error. ¥￿1¢ a Repryl ofthe IndEpendenl ALwJlor5 Ihal indudes ow ownion. Reasonable 8ssurarK• 15 a byh l•vel ola55warKe. knrt a 9uarar&e8 Ihat an audrt C￿d￿t￿j in accordarKe wlh ISAS lU(I will 8Mtays d8tecl a rnalerial mi5statem8nl ex￿. l*slal8￿ can ari%e frcm fra￿j or•rror aTrJ ara cMsti1erèJ material K. orln the aggregate. Ilw reasL￿abty t¢gxr*dgJ the e¢(wrtK dewions ofus•rn iak•n on th) basi% ofthese fffi•dal state￿nts. 8e¢•we oflht tr*re is a risk Ih•t noi d•t•¢i al Ir￿gUlarl*s. ¥i¢knJino those to a ffiatet￿ rnisstaienwt n It* finartial s￿￿ents or nor￿¢{￿￿p1k￿nc8 with r8guknt￿. Thi5 r￿k irKreases the more Ihal ¢￿￿Trar￿e reguL4m 15 remov￿1 fr(#n the vnnts aTrJ transacI￿nS ￿f￿ct￿l in the finanual statements, as be kss *ety to beccwe ￿are Ofin5t￿e$ of Tr)rfr(3JmF*"aTrce. Tr risk Is 8150 greater wardirvJ irregularties occurriThJ (*J• lo fra￿J Ihan eryty. as frawj Y￿￿l￿nal coK8akn*nl, for￿. C￿$1￿. thmi&8ion or mi$represenlalKJn. IrrntylaribOS. tra￿1. Ire M¥tsn¢es ol Iws rogukn. We th¥Jn wocedure5 in th'ne with o respOn%bi1rt￿5, tyjtlined abov8. lo deteclmatwialmisslat8ments n 18specl of iiwkn. fraud. ￿TrIt0 *ffti¢h ow proceduies are Capab￿ ofdetectirvJ *regd¥ths, fra￿j is deladed beknw. In vjenlfying and as$essiNJ Ihe risks olmaerd misStaaY*7t mLILKlivJ nonts fft Itspe¢iollhe maMg*freN dthe rental wcoerti A $8mF4e ofjtyjrnal entr￿ tested trapwopfflaluw a￿1 of marnyment as to the prr*•Jtsr85 in rAace lor postiThJ joum81 enbies. c￿rIf¥j our autht ￿ coMiJered *. wwsualp￿wls ortrar￿aGI1orts Ihe nomal tourse tsf busirte$$. Very fe*p)umals ¥￿e p￿sted ￿ Iheyear. Th• $tatwwnts *•m kngsil• tyji dis¢h)Aty fth¢¢*tsts tts 4ny unu$u4 or urwcted relalionshps required. rem•in•A% aknto any inth¢aiiM$ offv•wJ. rn•*ro1 orrwy*74 Tran5fer$ funds 9•TrslllosM¥l N•1 mov•m•nl lth fvtyji 240 338 12 434 464.19 J.075 974 3.540.171 161974 29110ts 3.075 974 2 135T14 1.771.044 939 278 1.759.13B Toui fvnds urrl•d fgNArd notes fryffl fin•Thial stalem¥ts 13 NOTTINGHAM TRENT VALLEY MEfHODIST CIRCUIT Circuit No 22104 N￿li￿arn Tf•M Valley Cm Clrculi No 8alaneé Shèèt as at 31 August 2024 CiY¢uitllodel Trn• TOW• 2014 IlJrf¢•¢rti•d) Fund Ilknre•tvictedl Fund¥ T￿ed A•¥et¥ T•n em knVesln￿ts esi 1.730 D96 17JOQ96 2.013.315 Tot•1 li¥•d•Ji•ts ImJJ16 Curreni A**et* Debtpr¥ ¢ash It 8thnk and B52 8SJ 26 457 26 457 32 720 1 798.607 1.79W7 1.931.155 1.141977 Curreni li•bill*• Cred*Drs (due n ￿nder l yeir j ranis pa ab* i 82 210 02 210 68 D3J 4516 72.5¢9 8S5 14.384 i.n4323 47J41 1.ln 15643Si JW.74J lyn¢ teim liibilitie Idue after mole than one Grlnts p• •n¢r 202&24 ess 8.769 1.77& 1.759M38 J.54Q172 3.075.97 Fund• 01lh• CirEuiI Gtn*r•%F¥ho lilnf¢Sti*t4ai CYoJ¢ ModelTrust Fund unrest￿¢0 D¢sw•l¢O P¥n¢¥ IUnr¢strKte 1778OU l.778.QU 1135.714 PSO 1 759$ 1.159. 939,278 1•74974 AeslKted Funds E•duwffeTrl Funds 8S7 ToulFunts 1.778. 1.759.8 1J08 3,540.172 3.075.974 •nd wer¢ sbJn¢d on *• b¢h•Kby 14 NOTllNGHIJA TRENT VALLEY METHODIST CIRCUIT Cash Flow Statement ft•r th• y•ar •nd•d 31 August 2024 IUn•udied) 2023 X+24 Ca•h n¢y•A Irom op•rntlng a¢lMtI•s ash g¢neraled from opera14￿ 358,574 [97,8551 Net in OF*rnIing 8LIMi*S 361,574 (97,8551 Cash fl¢)*% trom Invmbng acthltte8 sa￿ oftangiL4B a55ets Intsresi receNed 341303 51,628 434.767 149.483 Change kn 64sh and ¢ash oqulv*rhl8 In th• r•p perfod Cash and cash •quhfal•nis atth• b•glMkng of th? r•porllng ￿rIOd 793,341 149.483 1.111357 961.774 •sh •nd wh •qul¥al•nts attho •rKI of thg Y•PDrfIry p•rfod 1.904Ag8 1.111,257 15 NornNGHAM TRENT VALLEY METHODIST CIRCUIT Not08 to Cuh Flow Stat•m•ntfor th• y•ar •nd0d 31 August 2024 RECONCILIAnoN OF t*T TO IET CASH FLOW FROM OPERATINGACTMTIES Iunaudiledl 2023 2024 Not Sncam• lorth• v•port*4 pwth• St•l•rnrtol Frwsi•l Actfvitlal Adj'ustsnènty ft*r: Dewe(JalwJn charges Profil on dk8posa ol fixed assets Inlere51 receNed DpCreasel(UK¥ease}￿ debto Inuease in creditrKs 484.198 164.974 44T 163,SJl1 448 151,6281 19,8081 6.131 6.263 Nqt ¢••h op•rnllon• 97,855 APi4LYSIS OF ¢HANGes IN HET FiTrIDS Atl1 Cash I At 3111124 N•t cash Cash al arnj In hand 1904 598 Talf￿d ty the revaluation of ¢ertain 8$sets The ￿r[￿cY basis knlhe preparntvn ottlwse fina￿￿ stat&1￿￿ sterlir4J 1£). All cornwatNe figure5 for theyear erthd AAvJust Un￿￿1 Golng concern The tTUStees regUl￿Y ryKywlor #t dwty's res￿e$ Fw*y. nsk assessment and cash to a&w5 thè Vla￿.11ty or the charty. The tru￿etr$ have sdd. •KI ar& in p¥£tess ol sdling scffje ol rts mwtses and investment propertie5. Prcteeds of53le wll be set 8sid• to meèt Ihe ftrture pkns ofth8 trusiees.To date. no materk4 UrKertaInl￿ extst that w0￿d affect the ofthe finaThJa ststemerts a png ba￿. In¢¢m• All irKome 1$ re¢og)isgJ in the Statemert ol 0￿e thè tharity has értillamert to thé furth. it is probabk Ihat the income be r￿￿￿e￿ Ihe amount can be mea5wwJ reh*ly. Inccrfne trom the oftaTrJible fixed assrts 1$ W￿rrted lor m the yew in 15 I￿e1¥able. Rental ncome and asses8rnernts clusches is in pwIC￿ tO¥•￿h it reL8tes. Am￿JnIS received in athnce are delerrgd tg the frAhJvthg k*r*)d. Inccmne from wNestrnÉrtts and intwest c*) shortterm dewsits is ac(amled kn in Ihe yew in it is receivable. Eypendltur• Liabilthes Je recfyJnise(l as ex￿dit￿o as S£￿ as Ihere is a W weAYlStr￿ivt oblvjalty ¢tsmm*tsig the ¢harty 10 Ihat exp￿￿thr￿. rt is probab￿ that a transfer of ecOr￿liC berhefits wil be iequired in settlÈmènt and th8 ￿OUnt ol the oblig8b.on can bè measured reliab￿. ExpeThlrture i8 aCc￿￿ed ft¥ on an accwals basis and has ￿en classifie under heading$ that a9gregate all cost related to ihe catew. Where Costs cannot bè attrItr￿d to parb"cular headings th•y have been aktated to a ba￿ cowstwlwithtr* use of rew￿. Grnnts Grants made by the Crcuit from rts frJM15 are recrW￿ in fvll at the ts.me of agree￿nt or Circuit a¢cepts that there is a legal or Vati￿1 ot4galb* lo m*e th* paymw*. VAT The Circuit is not register￿ h)r VAT a￿1 al inwi VAT is tharged wth exp￿ tovthich it relers. flx•d a¥srts These are capitalised ifU*y used ftx nhye th￿ Lme yew, aThJ individuaNy c05l al least £1.OCK). The Ireehold propwty is shown In ts accoLmts at 2015 vall￿s. No depreciaticffl is Fffovided because the tru5tee5 consider the current re5i(k*l valuè olthè prcwty is rts preseni cc￿thI￿ to be n(rt less than its historical cost and. In the ats$e￿e of any evL(len¢e of inwam)enL any depreciat*)n wo¥i8h)n for Ihe iMild￿9$ ¢x)mpcffient ol Ihe w¢perty would bè immattiial. 17 NoThI￿H￿￿ TRENT VALLEY MEfHODIST CIRCUIT Notss to the accounts lorthfr year WKliDg 31 August 2024 InveStm￿t proyty From tsme to time the C¥t>Jit may hdd resthntd prop*ty (fNmth manses) whth is surp￿$ to its ncrfmal staffing requirernents. Where th"$ is the case and anbupated Ihat the WOFety is unlikdy to be uwl a5 a manse vAthin p8ntsJ of hvo yèars. th8 woperty is dassified as Investment Prcgty IK•hether let out or not) arkl any lets are at markel rates ￿lesS there is a compelling reason not to do so m fi￿therar￿e ofthe Circut's charitsble objectives. Cwently therg ar? none. Methodist Connexlonal Funds Th• m￿hC￿lISt Church Connex1r￿ T￿se$ assessmwts a984r￿1 CrrAth, tIEse we pabJ quartwfy lo DIS1￿1$ The Circuits raise assessments against Ch¢Jthe5 n the Ciruwts. ￿ DistrKt quarterty remrts to the Methodi51 Church Fund most ol the sum receNed fr￿Tr the Cwwts. A ynal surn L% le￿"ned ty thè ￿"S111CLI0 meèt rts own ¢osts. Mln16tern' manse costs The Circuit is r&]uired to provide aCCX￿rn0dats￿ for rnThster In Ihe CircLit and thgir families arwj this is se9n as a benefit to the Circuf(. MiThstws arè èxptcted to th• m￿* for thèm. Circuit bears the cost ol r•pairs, maintenance. buildirwjs Insura￿e. cou￿1 Tax and Wdler tharges The58 figures ¥e not $eparal¢ly thsdOS￿ a5 benefii>nFknna for mAiist¢rs as HMRC ncrt se4k totsx ihesg hand5 of mni5ters. D•btorn and cr•dStorn Debtors treditors are re¢fyJnised atth? *lKivd am￿nI after offered. ￿paYrnents and xcrua15 are valued al the ￿0[*)1 rAlculated. Debtors are receNable 8Th1 inrAKle the S¢thnbw th.pend w"¢J in AuwsL Crathl￿S tr￿Ude bolh sundry e¥penses Ihe Septwnbw assessme￿ receNed in Aygu$L Taxatlon The dwty 18 exemFI from tsK on Is tharitable Fund accounting ¢harity ha5 UNe$trthd fu￿lS and deswed fwvjs. Al we US￿ to benefft and w¢yndè charilat4e ob]'ects. Unrestrirxed fur¥J$ a￿ g¢nwl tw are avalatrfe use atthe trustees. thscre1￿ in frJrtherarKe of any oty'ecths of the rtbaiity. De￿￿8[ed funds are Un￿StrICted IwKl$ S￿ as•J¢ at tr* oflh¢ tru$tees for 5peafic PLrrpose Resfricted funds are those donated for use in a parithar ￿ ¢x for speclfic purposes. the use ol which is restr*cted to that a￿a or purwjse and the restridv)n that IvrvJ$ b? us¢d lor spea.k profrecis or acknwiies. wh￿ doncffs sFecify that dC￿ati(¥￿ 8rn1 grart5 we (k) not anOLmt to we-condth.ons regarding eniitiemenL this irwne ￿ indL•Jed in incrynir¥J re￿￿ of restrthd luThls when receivabk. The relevant expenditwe is Ihen rnaithed as festrKxe(l èx￿1￿￿￿urè. Fund #¢eountlng Fwther explanation oflhe naturè aThJ ww)se ol e*h fund is *￿1￿￿ed in the tothe finanaal st*m8nts. P•nslon Coats and oth•r po•t4•tlrnm•nt b•n•llts The charity operates a defined contn"bub"on pension scheme. Contrit*Jtions pryatle to the ¢h8riVs pension 8¢herne are ¢haryed to the St*mgrtof PLlivil*s in the pernd to wtiich tw rel*. Flnanci•l In•trum¥nts Finan¢i81 Instrum￿ts arè dassifi•(J and acctyjrted for, to the slth1￿ ol thecontrthl ￿lange￿￿nI. as erther finanaal assets. financial habilths ￿ eqimty ￿St￿mnents. An equity instrumént is ary c¢￿ thal gvHl¢n￿s a re￿I)JaI ￿terest in the assets of the cc¥npany aftw deducb"r8 811 Of its lth"lities. 18 NOTTINGHAM TRENT VALLEY METHODIST CIRCUIT Notes to tho accounts forthe year gndlng 31 Aug￿¢ 2024 3 C,Ioss3' CFB: Central Finance Board of Ihe Methodist Church manages a Cwimon DeFKJsiI Fund and a series of [￿led inve51menl funds for Methtxlist enlilies in Great Britwn provhJe$ investment advice lo those entities. Chur¢h: a group of mwnbers from f•ver th￿ 10 to more than 300 Clrcult: a group ol Methodist Churches geograph￿aty near each other, tYp￿alty between 10 and 30 Clrcuit Maeting: The trustees of the CireuiL most of whc*n are aF*)ointed by the¥ k)cal Churches and others by virtue ol a role they undertake foi the Q'rcurf( andor their b)cal Churthes CLT (Circuit Leadornhip Team): A group Icomwsing nN)sUy. but nol exdusivetyl of Circuit trustees responsible for the day lo day administration and policy formulation of the CrcuiL Generaly. the CLT comprises the Presbyters and Deacons Stati￿ed wilhin the Cwcuit and the Circuit Stewards CMTF: Circuit M(xlel Trust Fund Connexlon: The Methodist Churth in GB vthi¢h ir￿ud&S the Head off￿ at Methodist Church House, all Melhodtst DiStr￿ls. Circurts and Chwches in Great Britsin connoxional Funds: The Des*Jnated an(Vor RestrKled FuThJs hekl and thFnislered by the Connexion in furtherance of its charitable and missh)n ob)￿tsVeS CPF: Connexional Priority Fund D18trfct: a group of adjoining Circuits, usualty tjetween 15 and 30 DAF: District Advance Fund FRS: Finanual Reports"ng Standard GPF: General Pr¢Jpety Fund HMRC: His Majesty's Revenue and Customs Lay Empl¢)ye•s: Personnel em￿￿OYed by Ihe Circuit on generaltry acwted comm8rcHI employment terms MMPS: Methodisl Ministers. Pension Stheme NEST: National Employment Savings Trust Pre¥bytors (intluding Superfntsndont): Probationei c* Ordained Melhod*l Ministers and lor Deacons o have pastoral and &Jminislrative respons*¥Mty for the Churches withm the Circuit SOFA: Statement of Financial Actimties SORP: Statement of Recommende(I Pradi TMCP: Trustees for IAethodist Church Purposes. the legal vwner arKI CustOd￿n Trustee of all Methodist Trust pr¢werty. indudirwJ Legxies. End￿ments and Accumulated Funds 19 NOTTINGHAM TRENTVALLEY MEfHODIST CIRCUIT Notes to the accounts for the year endlng 31 Augusl 2024 Far,. cl=ro.,,. Stslwn•Trt of Finan¢ial Athits¢• ISOFAI for the year ended 31 August 2023 Tnl#t I￿￿m• 3940 2&723 x*J n7 303,757 112,043 thkntsrtt•rrtO IODO 4386 3$1 4J.t63 Totsi ir¢w¢ Exp•ndltur• Gr4nband dDnibt•s *, S*ardeg and I￿1&410deal1* 2265 2?,S53 17J.S10 IJ,7 125,353 142 197 73 720 72592 12 13 S2761 2$70 2711 4.WJT ?.Tll 3.332 15 Toi11 ¢t*rii•bleexpendliWe Tl.T51 Jl.343 N•liTrcryiieiieJwwJityJi*i 57Jfy2;. 14920 131.015.. 181.974 iJn9 n.2t2 2 (6J492 IA9 112320 -2I417 20 417 164,974 2911 ry)0 20 NOTllNGHAAI TRENTVALLEY METHODIST CIRCUIT Not•s to th• accounts for the yearondlng 31 Augusl 2024 An assessment on ehurthe$ ts annuawy determined by the Circuit using a fomiuL•￿ method which lake$ into account the relali¥e number of members in each thurch. its relathve irK¢me a measure of ministerial time allocated to each thurch. Assessments on churches are quartefty in athnce and are treated as pre peymenls on a receiVal￿e basis. Clwjreh G•nwal CIATF R*stri¢iÈd Endts7 Totsl 78.870 71.•70 69.114 •.0•1 12.163 12.118 17.Q60 20A79 4S.T40 44.514 31.719 3IP17 1s.1 7.104 greastr Christ Chweh 12.163 17.060 46.740 31.719 Lénton ndiaer• Stspf•fo Tolon 16.021 17,516 14.TT1 14021 22J77 17.516 16.32• 14771 16.fj14 .919 3QS52 Totsls 277.149 2??W 301731 N)l.= F) q31e 04 CluS￿d ckiur=kie- G•n•ral CMIF R•st Total 2024 2023 Gfoss sale CPF on Pro 854.402 I2￿.701) 283 405 81362) Saes 12)J.7611 Totals 560.841 860.641 182.043 Ills Re'-g' Jal)I Gèn•rnl CMTF . Rèstrkned Endow Tothl 2024 202J Oistiicl . Unfvefs. NewPla¢es, new Cha le Lain Wo 24.193 24 193 6.000 2.000 Tot• 24.193 24.193 8.000 21 NOTTINGHMI TRENTVALLEY METHODIST CIRCUIT Notos to th acc¢wnts forth• y••r •nding 31 August 2024 Note S OIn￿r Ciiiri:.ao e IrlCCI1-_ CMTF R• Totsl 2Q24 2021 756 ￿￿5¢S lJdthe5 Rec Saleof lerton Chwch accouNs (knsed Faie%Yen ¢se es re Gra S*¢of manses Toials 120 120 14 21.722 420 22.Y4 22.514 63,$31 80.666 63 531 63.531 22ml Nfjlc 9 Invcslincn. I',i=.Jm ¢MTF Indow Total 2024 2023 20.965 Manse Rental Income Church room Rental Incorne Irom moneia 25.820 7.259 4.059 7259 55 investr￿ntS 51.325 30.663 51,629 Nola I Ci G.. ar',iS & Disiia'..v'is Grants and donations as listed bekMT were agreed anthr m•Je durwig the year. Wthere a grant has been made frcrfn the Circuit Model Trust Fund. and the gr￿1 mon*s are foi use within the Circuit. thoy are treated as a transfer betsveen Funds. The tth belcw detsils Ihe new as agreed and paid over this year, this yearfs inslalments of grants agreed in prior years and the future instalmenls of lo be paid. Clrcylt Model Trust Fund P•ld thls Paid year Internal External 4.384 75 2.000 57 1.200 3.884 897 1.648 2.404 3.798 1.463 1.30S 792 1.700 2S607 2024 Tothl Paid Exl Unpaid Blfwd 13.153 75 GrJnieelDon Kl wood MC La Worker Gran wood MC La W0￿•r Tftnit MC . Su Worker Beeslon MC.Su rt w0￿er Beeslon MC - Grant ie li hbn Bteslon MC - Ener Granl Breaslon - Ener Grant Chrisi Church - Ener Gront Gran wood - En8r Grant Kin wood - Ener Granl Sandiacre - Ener Grant Sta eford- Ener Grant Toton - Ener Gfanl Trinl Ener Granl Fon¥ard 8.769 Paid 4.384 75 30.000 2.000 57 57 1.200 3.884 897 1.648 2404 3.798 1.463 1.305 792 1700 21.091 Totals 13,285 38.769 4,516 Total Gr•nts AppToved 23rk4 Total CMTF Transfers 23124 51.091 4.384 Total grants approved 22f23- £17.653 22 NOTTINGHAJA TRENT VALLEY METHODIST CIRCUIT Notes to tho accounts for the y•ar endlng 31 August 2024 Stynds were pahl lo 4 Ministe￿ as fc•xs.' FulTM• 119 064 Part Tkn• Ihsl Tothl 2024 119.064 I￿j 77 149 7340 19 920 $07 nds 119.064 PqnSw)n fvnd •nlite Le P110 NdiionallnSurafftcÈ Com l•r4 forM*41 Trovellin T•lD one & &LMdb•nd II•En¢wJJl. Jl.247 603 31.247 603 31.247 603 776 3.455 776 3.455 4.6B2 1.200 409 112.953 776 3.455 $45 4563 4.955 14 413 1.200 409 17195J t.200 409 171955 129.9 The circu￿ ernploys lay staff involved m Pastoral. Chaplaiw Support and Administration work. The costs of these staff are shown beknv in Iheif separate catewr*& Partr G•h* 11_372 2Q2J 3.174 tional C¢kntrl>yMf6 Ponslon lUndContiltr￿ rentlce5li L 118 144 40 11.530 •.356 11,530 12.219 ?.4qior31 ¥ Cl)a Part R•Mrfded 22 310 1928 995 Towl 1024 22 31Q 1928 995 202J 27 747 sa￿￿5 Naiknal In￿1￿cO Corttn7A¥ons PeThsion Fund Convibuknns 22 310 1928 139 31,343 25,345 25,345 Sd nds $ s•￿11•$ Tatsls 184.48J 25.J45 209.818 173.540 No employees received er[￿loyee benefits of more than £60.000. There is no ￿Cr￿al for hol*lay pay as il is immaterial,. the holiday year erKls on 31 AugusL All staff are Pa￿ above the Iwing wage. FJrti..i., Iniorb.c In addition to the above salaries, one more empbyee acts as a famity worker for the GTangewood and lfj'ngswcx)d churches. These costs are paid by the rdated churches and the total of the salary costs. Natsonal insurance contrtiulions and Pens￿ witril)uiK￿S lotal £22.544. Tho brings the total wages and stipends costs to £232.372. 23 NOThI￿HAm TRENTVALLEY M￿HoDIST CIRCUIT Not￿ to tho a¢￿￿nI* fr>rthe yur onding 31 Au9ts&t 2024 During the year the average number ol empbyees was 7 (2023: 7) Exf,-.fiSf-s r@11-b,.Iroed IC :fi. S'.C.- During the year £3.455 of ex￿Se5 were rebnbursed to 4 trusiees (2023: £4,5S3 to 5 trustees) Most ordained presbyters arKI deaCC￿S we members of the Methf>Jtst •Ainisters' Pension Scheme {MMPS). whth is a defined benefit scheme. The Supreme Court hek1 in 2014 that Methodist ministers Iwhieh temi indudes presbyters and deacons) we not eryloyees of th& church. For simplioty. however. when dealing with NatiC￿al Insurance contribubons and pension Contn'l￿II￿$. the temis'employee, and 'employer' 84e used as they w0￿d ￿ in an emF4oying b(*. Lay emWees are contractually employees and have the option ofjoining a Fen$1￿ stheme the Cirtsjit has ananged NEST. This is a defined contribution sthemg ar￿ the Circuit as empbyer to this scheme. N'gle fj i a Cost .?1 SuL*llli:.e,'iJgiii 8 Presbl'le" Th8 Superintendent of the Circuit, the othef ministers and the remaining members of the C¥cuit Leatjership Team {CLTI afe considered as Key Management Personnel. The Superintendent chairs meetsngs of the CLT. Circuit Meetings. The members of the Circuf( Meeting are Ihe Irus¢ees of Ihe Circuit. The slipends. employerfs NIC and employer's pension contrth￿l[￿S. and other expenses of the Presbyters of the Circuit, are paid by the C*cuit. The manses are provided by the Circuit and Circurt maintains the wo¢*ties The values of the council tsx and water charges paid by the Circuit are thsdosed here as HMRC does not regard this as a benefrt in kind in the hands of the ministw. Each Presbyter is entitled to a 3 month sabbatical every 7 years and the expenses in￿rred by the Presbyter are mel by the Comexion wilh the Circuf( continuing to pay the sl¥)end. The Circuil does not crue for holhlay pay cover as the remaining staff cover the holidays as neethd and withoul extra pay. A, Iri&.ril8 le Truslcp£ It is generaly not Circuit poliy to ramburse non minister m￿b￿S of Ihe CLT, Cirojil Meeting and others irtv0￿ed in the administration of C￿Ult affairs for expenditure properfy incurred in carrying oul their duties. The mTrnistws of the Circurt undertake the primary executive roles wrthin Circuit. Apart frcrfn the 4 ministers, and Circuit Administrator (currenty a trustee) no member of the Cwcurt Meeting or CLT was in receipt of any paymenl for wryk undertaken on behalf of the C*cuit. One tmstee. Mrs C. Smith. is an empbyee of the Circuit and is in receipt of a salary WKI other efflpkjyment related expense5. The travel costs of ministers who attended CLT and Circuit Meetings is H)cluded wihin their overall travel expenses (dètailed in note 11) and is not sepwalely detemiin&Y. 24 NOTTINGTriAM TRENTVALLEY MEfHODIST CIRCUIT Not•8 to the a¢counts for thfr year endlng 31 August 2024 xr.'Ynse. The Circuit is managing trustee for 7 manses that are occU￿ed by ministers ststioned in the Circuil. Two manses IEnds1￿.gh Gardens and 41 Trenton Lkn*l a￿ 101 ¢)n Assured Shorthobj Tenancy Agreements. th the exception of Ihe let manses, the Circuil is resp¢￿$*1￿ for the payment of Council Tax. Utilities. Water Charges and Insu￿Ce. CMTF IIIEZIEE&EIII Man Counfil Tax Rèpalrs 2(124 2023 bwo¥e knwove 223 BrorAside Avenue Cwrlbertand Avenue h Qafdqns Road MaisWI Puth(k Cl Trenton DIp4è 6947 44.875 925 4.254 10015 6.947 44.875 2.823 576 40.399 6,592 5.838 139 144 703 37 650 6.719 2.660 1.679 4254 10.015 6.526 4245 217 2.819 333 623 4.2JO 6JQ9 1982 4.245 217 -53 2.074 14.517 3.755 24.521 270 2.403 1.557 4289 Radfor 6.034 23.333 10.071 117,810 12.501 Lent Brarnc¢X• 223 202 JA85 7.036 1.825 66.1B4 2J.J 10,071 117M) Toiai* 15.010 69,402 L•tting E¥p•ns A9•nts IOl4 Ents h ¢Jrad4 Tienkn Dipie 2559 2559 2,559 2.559 1238 2,1138 2&5• (Xhw Proporty Exp•fises G•rtrnl CWfF OMIg. 2023 Ou1nWenn￿ ieptyts 11434 11434 3.110 ),180 ?,? 12.434 12.434 Yowls 123579 136.013 73,720 25 NOTTINGHAM TRENT VALLEY METHODIST CIRCUIT Note8 to the accounts forthe year endlng 31 August 2024 Nlole 13 Oistrinl Ass￿Ss￿le1-1S Leb., The OistrKI Assessment is calculated re￿1￿¢ to the rKcyortKJn of church members and staffing (Presbyters and Mission staff only) of am C￿C￿lS in the Nottmghwn and Derby DiSt￿L 50% of the overall ost 1$ calculated using ielatNe membership proFKJrticfjs and 50% using relatsve staffing proportions. The Iw 1$ eakulaled on a slidffjg percent•3e of Circuit's CMTF xcount balance a$ al 31 August the previous accounting year. Gèn•f•l CIATF . R•sirkthd Endtyat Totsl 2023 Disuici oftses Melhodist Church Fund D1511icl Le on CMTF F￿d$ 9.662 63 251 9.862 63,151 62.692 10.066 62,526 62 692 Totals 73,113 61692 135.805 125.353 lii)le 14 Dg.prer!atio Flxtsr•¥. rotsl Effjlp't 8dan¢o Bro ht Forw¥Td ththons m tha Y•8r 4CQ.574 1.610.294 3.343 2.018,211 Le55-0￿p0Sa15 ID the Ye8r 8alènc• carwj forward 156.3601 346.214 (226 412) 1J83.882 {282.772) 1.733.439 Basis WA TrAal 3 Years 8abn¢o &0 FonYar¢J DepreC￿tIOn Charoo for Yèar OssposaLs 8•l•ft￿ C•rrfed Forward 441 447 ougm Forward 4￿￿.574 1.610 294 447 2.013,315 C4rrI￿ Forn*rd 316.214 1.383.882 1.7x1.096 NOTTINGHAM TRENT VALLEY METHODIST CIRCUIT Notes to the accounts for the year endlng 31 Augusl 2024 .?le i ? Ohice &- -4al-IY STr&l 3- cMTr R• T9￿1 2024 375.IWJ 471 1.JOO.Otr 621.oty 2123 Confer*Ke mwes 375 fh) 471 c￿* 307 (M) 1030 (M) e Fee Bwk char Fees 2.715 2.715.0 2.716.00 9.flJO.fyO 17A15.0• 2 337 LKt 2766tyJ 90fy)C 14W)A Jjort Fte t.716.•0 N(Jlg 1 r, 01 ie.- OL,'IoJiii('. Gener•1 CIATF Desl 2023 Preachi & worghl Production ol Pl8n 8 D*e¢lo murnèra Pf•athi Fe•s Zoom F8ès her ex enseJ: Sttjd Books. Vide05. Aw Oa Oistricl 2024 1 C Fox 2023 Mv&¢ Il*m$ 9x1 610 144 920 610 144 270 109 osts Slaff Meals 512 200 174 2.560 512 450 Tots 2.711 .')',e BS I MAn￿￿S aii.i Ol'ier P.. Land and buildings comprise of 7 manses bxated in V44)Ilaton. BraTh￿OIe, ch*￿11. Long &iton and Beeston. During part of the year. 2 of the manses have been prNatety via the se￿￿e5 of C.P.Walker & Son. One of the Manses, Harr¢>w Road was s¢Sd duriry the year. Equwgment consists of a dKJital hymnal and off￿e equipment hekl at the circuit offic*. T•kni I￿.574 1.610291 3J43 2 016211 sintsy .412 (Z82.Yrd) 1.73J JIO.214 WA Jyws Ch• e lar Y￿r 447 NF0￿ 1.010.294 10iJ. 1.rn643 The title to the properties is hekl by the TMCP on behaw of the Nfvmc. 27 NOTTINGHAM TRENT VALLEY METHODIST CIRCUIT Not•s to th• xcounts forthe year endlng 31 August 2024 NJle ￿s-) UelJlLJI o & Prtr, All sums paid in advance at 1 September 2023 V•ere expenses dwng 2023-2024 and similarty. it 1$ expected that payments wi advance al 1 September 2024 wll be expensed in 2024-202S. Gènèral CMTF R•sir. TOMI 1023 Pre Se fem￿1,24 Sti Insufance Wal8r Char Counul Tax roll se￿[ce$ Feès Loan to Ch￿1 Church ènds 13711 1916 91 603 13.711 1.916 91 603 13.477 7.893 462 353 9,219 31.520 9219 25 $40 9.219 25J40 ACcn￿l Incorne SMP for Fami Worter 202>24 Tot* 917 26.451 917 26A57 32,720 BS-. c￿sh 31 Dar,4 ￿Trd In 13TJ The funds that 5UPPOrt the Cycuil Model Trust Fund and the Circi¥l's other funds las listed below) are held by TMCP in Trustees Interest andlcr Managed Equty Funds on which interest and divwjends are cr8dit8d to the accounts each monthlquarter. These are regarded as medi￿7 and kjng temi inveslments. TMCP is the ￿al owner and custodian trustee of all MethcKlisl mc*Jel trust pr(v￿ty. including legacies. endowments arld accumulated funds. Trust prwty is held for and on behalf ol h)cal managing trustees who are re5pon$ible for Ihe day to day management of trust property. TMCP ensures that, through providing guidance and acling urKler theii dire(AhM. the managing trustees comply wrth Charty law and MethrAist law and policy as det￿Mined by th8 M8thodist Confereno. (￿F Tnjst 10299 Tolal 31.￿14 Total 31J18.23 2CIIOTiustees Interest Fund 952563 Monetsry b818nces held at Ihe C9ntral Finance Board of the Meth¢)disl Chureh and GIF are all available on demand without loss of interest. The split of these balance5 auos5 General De5W3nated arKI ReslfKted Funds is ath"trary but wherever possble balances are not sh(7•m as negative. G•n•ral CMTF Endow 81044 250 81294 Total 81.IM4 250 81294 2023 142h21 151 Cenrral Fwtance Board Cènlial Finance 8oard- Bfamcote CFB Total 142.772 CAF Totsl 22.407 1.308 24.697 15.922 Tota 103.701 105,991 15a.694 28 NOrnNGPL4A4 TRENT VALLEY METHODIST CIRCUIT Notes to the accounts for the y•ar•nding 31 August 2024 Gene CIATF Des Re￿. Total 2023 Incom• In 4dvanc• Asse&wnents Quartef Se -Nov Quart•f CrediioTS & Accruals 69.415 69.415 65200 AtKlilf*• 2024 9.WO 361 895 Manse Waiei Cha Manse Council Tax Inde ndeni Ex•m￿allOn F••$ 2>24 roll F¢e$ 01104r24- 31108r24 Cwcuit Accounianl Fam Worker Pen5iM Contribthims L Staff Pens[(￿ conth"L4jt￿ AJJ 24 C¥curt Admirysliaor Pens1￿ HMRC Au ust 24 enbceship L 361 895 1.250 275 248 158 371 ol 275 248 158 24 142 1091 1B 929,, 25 68.0331 24 17 577 14 17 577 14 82,210 Chai Tothls Ni)Ip B£4 Compiil.n>r.:" Some grants are payable in annual instakrnnts. &nce Ihg Circuit rgcowi5es the moral resp)n$ibilty to mèet future inslalments of grants, al frJture instslments affj as liali￿t*S on the balance sheèt. The lolal of anlicipaled grants stsled belcv4¥ Comf￿ vthin th8 balance of each of the resp8Ctive Funds as sh¢)wn in notes BS8 and BS9. It is the Foly of Ihe Circurt not to the future t4)mmitment$ of grant to exceed the balance of any fund from wlith the (￿nm￿ment is made. General CMTF . Restiicted Endow Total Giants able 2024-25 2025-26 2026-27 2027.28 14 384 14 385 10.iXIO 14.384 14.385 10.000 Tothl anilel led luiur• comfflltrn•ni 3(769 38.769 29 NOTTINGHAAI TRENT VALLEY METHODIST CIRCUIT Notes to the accounts lor thfr year endlng 31 Augusl 2024 Notc- BJ6 Un(eslrivlo J F.IriCE NJIC B£6 Gènoral F￿d 31Au U5t 2024 J.778N4 31 St 2023 2.135.714 31￿ ust 2022 2.063.492 31 USI 2021 2.ILB.125 31 U512020 1109.737 The purpose ol the fund i% lor use at the discretK*n ol the trustees in the lurtheranee of the general objectives of the Circuit and which have not been designated for other purposes. ALK)ut 98% of this fund is held as a freehold or leasehokl propety, beiTh3 manses ministe￿. investsr*nt properties and from time to lime redundant chapels in the cl1￿ c￿ult Mod•1 Trust Fund 31 Au ust 2024 1.759.838 31 ust 2023 939278 31 vst 2022 812.320 31 ust 2021 862.268 31 ust 2020 946.4126 Balanee The purpose of the fund is for use al the disuetw crf th• trustees fUrt￿￿ranCe of the general obJ'ectNes of the CiroJit. Its ma¥1 source of inc(Th is legaues fomulaK* ¢*tem)ined contributions frun the s￿& ol manses and church ￿￿h￿ingS ￿ the Circuit. Atthough this is tschnically an Unreslrictod Fund und8r the control of the Circuit Meeting. prior aFproval is still required from the Noth"ngham and ￿'st￿t lo uD"hse these fvrids. Methodist Standing Orders 930.931 and 917121 •plicable. iialed Fur='% Oesignated Fund5 31Au ust 2024 982 31Au 2023 31Au V5t 2022 14.771 31Au ust 2021 18.955 31Au 2020 15.712 Balance These funds are lo serve specrfic purposes but are not restricted ty any document or deed lo Ihat purp)se. Movements in these fvnds are set out ￿ Nrte BS9 and the delw"Is of the specifiG fund5 are as follows. Training and BUr$￿- primarity SUPFQrts young people on 0￿rseaS chanty projects Beeston Develcyment- to fvnd the yofessKbnal fees i￿￿Tred in the Beeskn Chur¢hes PrcieLt R•sthd•d Funds 31 Au ua 2024 1.308 31Au ust 2023 31Au U5t 2022 20.417 31Au st 2021 25.523 31Au ust 2020 34 594 8alart• The Restricted FurKI exisls lo SUP￿ the cause listed belo*. Chaplaincy Fund - to >Jpport Chaplaincy work cunentty conducted at the UnNersity of Noltingham and from September 2020 also at Nottingham Trent Univergty. 30 NOThINGHAM TREfr￿ VALLEY METHODIST CIRCUIT Note¥ to the a¢¢ounts for th¢ y¢ar ending 31 August 2024 '.e Bi8 SLiiriiYiar ' o, rL4fid .n- Balane• 0110912023 2 135714 939 278 3.07{992 Galnsl Loss•s Balanc• at 3110812024 1778 044 1759 838 3.537,882 Fund General Cwcurt Model Trust Fund Total Unr•5tr1¢tsd Funds Ineome 337 651 675 497 1.Q13.14 Exp•ndlture 1442 549) 9S 275 537,824 Transfers 1252 772) 240 338 12.434 Beeston Oevehj Fund Traming and Bursary Fund Tolal D•$ n•i•d (12.434 12.434 982 982 11434 12.434 T¢tal Unr•strlct•d 3,075.974 1550.258) 3.S38.864 Ch•lJncy FWKJ Total R•strlet•d 28 653 26.653 125 3451 25.345 Total Furrd5 3.075.974 1.039.801 575.6031 3.510.172 i BS¢ Anal sis v, G•m•ral CMTF D•$ R￿1 endow Totsl 2024 Ibte FNed Asseis Ftted ￿Se1 Invesbnents vesimerts Cwrént Assets CLtyrent Liat41￿leS Creikn due ¥ter ¢Y￿ Ye I7￿0 2.013315 130 158 182 210 1.798.807 14,384 124.385 1.769.438 1.931,065 96,594 24,385 3,W.172 1.143977 72 549 18 769 3.078.974 1.778.044 I ljo'Jil-er Evw ents'ty (Connexion, DislrKI. Circuit, Church) wilhin the Methodrsl church in GB is hèavily reliant on volunteers who contribute their skills. time and money in the fvrthe[O￿ of the WO￿ of the Chur¢h. In the Circuit the principal contribution is by servng ¢Jn commrttees of the Circuit that deal with mission. manse5. finan￿, property, traning, safeguarding. are grateful lo all of them for their help and eommilment. No attempt has been made by this Cirujrt to Value the non-rnonetsry contnbukns to the Circuit in monetary lenn5. Njlc B.q11 Ca" Ital f.e,rrimilinpy'.£ ard fo1linnaenl Liab lil The Circuit had no capital Commitm￿1$ ￿ cont•ynt at the year-end {2022-23 .' nil) Idole R812 1.?.a%& C.niTriinilrrièlit The Circuit had no ttrfnmilments for lease eonlr&ts or oblKJat￿s at year-end {2022-23 '. nil) Note BS13 Rolatod Party Dixlosuros Stipends and salaries are pwd to trustees on Ihe year are detaled in note 11 of these financial statements. 31 NO￿INGF￿A TRENT VALLEY METHODIST CIRCUIT D￿AlLED STATEMENT OF FINANCIAL ACTivfTIES FOR THE YEAR ENDED 31 AUGUST 2024 2024 20ZJ INCOME AND ENDOVIIIENTS Inv•stm•ni Incom• Oep05i¢ ar£ount intwBst 54385 30,663 20, 14 51.628 Chalitabh *¢tlvHI•* Assessments on Chur¢h•s 277049 560.641 303,737 162.043 8,Ql)O •nt$ 162,fj13 493.780 Othor 5ncom• Gain on sa* of tangible ffixed assets Other charit8t4e 63,831 25.123 Tol￿ IncomlwJ mour￿• 1.039.8 568,306 EXPENDITURE Charltablè acU¥l¢los Wages Prop•ty m•intenanc¢ aTrJ ru￿￿9 costs Di%lrict assessment & fevy Depre¢BI*￿ 0ftary￿k fved 85se15 Gwanis ￿ Insburtion$ 232,372 136,013 135.•OS 447 51.Q91 173.540 73.720 125.353 22.653 395.714 support costs Managoment Office and adrrin Cmher outgciry5 •,315 4.9)7 2.711 1Q.875 7.618 GOV•m*￿ ¢o$ts Authi¢rs' r¢mun¢rabon Totsl resourc*s vxprnled $76.603 403.332 M•t IncoTh• 164.974 This pa92 nol fom part of the slatul¢*y f￿ar￿SaI statements