**THE GWENT HILLS AND VALES CIRCUIT OF THE METHODIST CHURCH TRUSTEES’ ANNUAL REPORT TO THE CHARITY COMMISSION FOR THE YEAR 1[st] SEPTEMBER 2020 – 31[st] August 2021** ## **Introduction** The Gwent Hills and Vales Circuit of the Methodist Church came into being as the result of a decision by the Wales Synod of the Methodist Church and was formally acknowledged on 1[st] September 2009. At the beginning of the year under review, the Circuit consisted of twenty-eight churches located across several valleys in mid and south Wales. The Circuit’s trustees are the members appointed by the twenty-eight churches to the Circuit Meeting, which gathers three times a year, to discuss and make decisions on matters pertaining to the life and work of the Circuit. ## **Aims and Organization** The Circuit leadership is provided by a team consisting of five ordained ministers. We continue to receive significant assistance from ministers retired from the full-time work, but who are still active in leadership. Five lay persons have been appointed as circuit stewards, and three other lay persons have specific responsibility for finance, property, and the work of local preachers. Administrative services are available to the Leadership Team and the Circuit through a part-time Administrator paid by the Circuit, a post which was filled in March 2021. In considering its aims, the Circuit Leadership Team has considered the Charity Commission’s guidance on public benefit, in particular the specific guidance on charities for the advancement of religion. Hence the Gwent Hills and Vales Circuit exists to promote the Gospel of Jesus Christ through providing opportunities for worship, mission and evangelism. Since its inception, the circuit has made mission a priority, with churches being challenged to undertake outreach on a regular basis. There is a particular emphasis on impacting the community beyond the membership of the churches. The Circuit has responsibility for finance related to the upkeep of ministers and their homes (manses), and the support of mission-related activities across the Circuit. The individual churches do much of the day-to-day planning of events and projects to support these aims, but the Circuit has set certain priorities and placed emphasis on certain activities to encourage them to carry out their mandate. ## **Review of the Year** Under normal circumstances the Circuit ensures that worship services take place regularly in all its churches and that buildings and ministers are available for special services, including baptisms, 1 weddings and funerals. Services are offered with varying formats and to appeal to various groups within the society such as children, families and adults with learning disabilities. ## **Covid** During this entire Connexional year, both church life and circuit life were impacted by the Corona Virus pandemic. Buildings remained closed during lockdown in accordance with Welsh Assembly Government, UK Government and the Methodist Church of Great Britain and Northern Ireland regulations and guidance. Whilst church buildings were shut, the mission of the charity was promoted by postal and digital means. Letters and service sheets were sent out regularly through Royal Mail and by email, and services were made available to people via Zoom. Pastoral visiting was not possible, so contact was by telephone calls and letter. Staff and pastoral teams continued to offer spiritual, emotional and mental support as best they could to members and adherents, as well as through practical initiatives such as local food banks and community hubs. The pandemic resulted in experimentation, and as a result new and exciting forms of worship and spiritual support have developed and grown. The digital platform has enabled people from all over the world to join in the activities, along with local people of different denominations and those with no regular church connections. During this time, many churches experienced a drop in income, whilst outgoings have remained. The Circuit trustees approved a means by which churches in need could be offered assessment holidays subject to qualification criteria. This has proved a lifeline to some. During the current reporting period, seven churches had been helped in this way with holidays amounting to £29k. During the pandemic, the charity trustees have been kept informed of developments and consulted about matters needing trustee approval by email and post. Latterly, as acceptance of video conferencing has grown, it has been possible to hold trustee meetings by Zoom whilst ensuring that those not able to access digital media were consulted by mail, ensuring full engagement with the matters of the charity. ## **Income Trends** The Circuit income is primarily drawn from assessments paid by the circuit churches. Total income for the year amounted to £370,120. Of this, £74,523 was a capital receipt in the form of Snatchwood Chapel which passed to Circuit responsibility when the church ceased to meet. This was subsequently sold on 03/09/2021. 2 ## **Expenditure Trends** Stipend expenditure has increased each financial year in line with Conference-approved increases. The expenditure budget approved for the year was £319,266. This was to be raised from churches by way of assessment. The actual amount raised from churches was £291,197 the shortfall being funded from reserves in support of churches who were suffering shortfalls of income due to COVID lockdowns in accordance with a COVID Relief Scheme approved by Circuit Trustees. The actual spend against budget for the year was £292,721. The main components of the £27k underspend were: - Staff travel: £9k - Relocation (over-spend): -£4k - Administrator: £4k - Print Stationery & Post (over-spend): -£8k - Preaching fees and travel: £7k - Wales Synod assessment holiday: £8k - Manses Repair & Maintenance: £6k - Water Rates (over-spend due to Pontllanfraith leak): -£2k - Resources and contingencies: £7k 17.2% of expenditure was the Circuit’s contribution to the District and Connexion, of which a significant part is used to fund the work of the wider Methodist Church. ## **Fund Balances** As of 31[st] August 2021, the net current assets of the Circuit were £391k, giving approximately 15 months’ cover for expenditure. The trustees are making reserves available for church and circuit projects, the support of churches unable to pay their quarterly contribution due to the impact of church closures because of COVID restrictions, and the improvement of Varteg Cemetery to bring it to a safe and sustainable condition. ## **Plans for 2021/22** Circuit financial plans for 2021/22 have been prepared based on an on-going, full-time ordained staff of five, a part-time administrator and cost of living stipend increases. Considering the financial pressures on churches due to COVID, trustees agreed a budget which maintained the same level of assessment per member as in 2020/21. This resulted in a budget of £302k. Whilst this resulted in a higher than previous risk of overspend, it was felt that the Circuit reserves were in a position to bear this. 3 ## **Basis of preparation and legal framework** The Charity’s annual report and accounts for the year ended 31[st] August 2021 have been prepared in accordance with the Charities Act 2011 and the Charities Statement of Recommended Practice 2015 as applicable to the Financial Reporting Standard (FRSSE) 2015. **Full Name of Charity** : Gwent Hills and Vales Methodist Circuit ## **Registration Charity Number:** 1140255 ## **Date of Registration:** 2009 **Main Communication Address:** Circuit Office, Castle Street Methodist Church, Castle Street, Abergavenny, NP7 5EE The members of the Gwent Hills and Vales Circuit Meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by local churches. ## **Circuit Ministers and Officers** Active Ministers: Rev. Sue Lawler, Rev. Stephen Boxall, Rev. Gareth Edwards, Rev. Catherine Lewis, Rev. Andrea Sims Supernumerary Ministers: Rev Anthony Gregory, Deacon Gwenllian Knighton, Rev Roy Watson Circuit Lay Worker: Mr. John Evans, Mr. John Penny, Mrs Celia Price Circuit Finance Officer: Mr Ken Bailey Circuit Property Steward: Mrs. Jan Jackson Circuit Local Preachers Secretary: Miss Margaret Webber Circuit Stewards: Miss Jane Evans; Mrs Siân Millar; Mrs Rachel Rimmer; Mrs Gillian Timm; Mrs Christine White Circuit Administrator: Ms Joanna Saunders Circuit Treasurer: Mr Ken Bailey functioned as the principal officer overseeing the day-today financial management and accounting for the circuit during the year. Independent Examiner: Newton Green & Co, 17 Wyelands View, Mathern, Chepstow NP16 6HN Investment Bankers: Central Finance Board of the Methodist Church, Trustees for Methodist Church Purposes. ## **Objectives and Purpose** The charity objective is to function as a resource provider for the Methodist Church within the area around the valleys of southeast Wales. 4 The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of: a) The Christian Faith in accordance with the doctrinal standards and discipline of the Methodist Church b) Any charitable purpose for the time being of any Connexional, District, Circuit, local or other 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. Also, the organization and resourcing of regular public acts of worship open to members of the church and non-members alike; the teaching of Christianity through sermons, courses and small groups; the resourcing of pastoral work including visiting the sick and bereaved; taking religious assemblies in local schools; promotion of Christianity through the staging of events and services; provision of chaplaincy services to the local university and other institutions. ## **Public Benefit** We confirm the trustees have had regard to the Charity Commission’s guidance on public benefit. ## **Structure, Governance and Management** The governing document for the circuit is the Deed of Union (1932) and Methodist Church Act (1976). Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD). Day to day management of the Circuit is undertaken by the Circuit Leadership team along with the Local Preachers Meeting and the Circuit Finance and Property Committees. ## **Trustee Training** A range of guidance produced by Methodist Connexion to support the effective running of the Circuit, specifically the leaflet _**‘The Role of a Trustee in The Methodist Church’**_ , is given to all new Circuit meeting members as induction to their role as trustees. ## **Related Parties** The Circuit is part of the Wales Synod and is also accountable to the Methodist Conference. 5 The following Methodist churches are linked to the Circuit at the end of the reporting period: Abergavenny, Abertillery, Beaufort Hill, Bedwas, Blackwood, Blaenau Gwent, Blaina, Cwmcelyn, Fairhill, Garndiffaith, Glasbury, Hope, Llanelly Hill, Llanyrafon, Nantyglo, Newbridge, Panteg, Pontllanfraith, Pontnewynydd, Pontypool, Race, St. James, Tredegar, Trinant, Trinity, Tyllwyn, Upper Cwmbran, Wesley Place. ## **Risk Management** The major risks have been identified and recorded by the Circuit Finance and Property Committees with professional advice taken as required. There is a regular annual review process undertaken. Income and Expenditure is being monitored in total and is compared with the approved annual budget on a half-yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves. ## **Safeguarding** Every person has a value and dignity which comes directly from the creation of people in God’s own image and likeness. Christians see this potential as fulfilled by God’s re-creation of us in Christ. Among other things, this implies a duty to value all people as bearing the image of God and therefore to protect them from harm. Methodist Connexional practice outlines commitment to the following principles: - the care and nurture of, and respectful pastoral ministry with, all children, young people and adults - the safeguarding and protection of all children, young people and adults when they are vulnerable - the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as to the dangers of abuse. - We will carefully select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and registration with the relevant vetting and barring schemes. - We will respond without delay to every complaint made which suggests that an adult, child or young person may have been harmed, cooperating with the police and local authority in any investigation. - We will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of informed pastoral care. 6 - We will seek to challenge any abuse of power, especially by anyone in a position of trust. - We will seek to offer pastoral care and support, including supervision and referral to the proper authorities, to any member of our church community known to have offended against a child, young person or vulnerable adult. - In all these principles we will follow legislation, guidance and recognised good practice The Gwent Hills and Vales Circuit commits itself to ensuring the implementation of Connexional Safeguarding Policy; government legislation, guidance and safe practice in the circuit and in the churches. The Gwent Hills and Vales Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable. ## **Supervision** The Gwent Hills and Vales Circuit fully embraces the requirements of the Interim Supervision Policy 2017-2020. Supervision in the Methodist Church is an exploratory and reflective process. Every ordained minister is required to meet one on one for an hour and a half with a trained, resourced and approved supervisor to reflect on their vocation and practice at least six times per year. Others with significant pastoral responsibility are encouraged to be in supervision. ## **GDPR** The Gwent Hills and Vales Circuit commits itself to ensuring the implementation of government legislation, and guidance and good practice as provided by the Methodist Church TMCP, in the circuit and in the churches. The Gwent Hills and Vales Circuit commits itself to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their responsibilities as required by the GDPR. ## **Reserves Policy** In September 2021 the Trustees voted to amend the Reserves Policy to the following: 1. To hold a minimum sum equivalent to twelve months’ average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and to be able to continue, in the short term, funding planned activities in the event of any inability to raise the full Circuit Assessment from churches. This was increased from six to twelve months by the Circuit Meeting on 10th September 2020 in response to the additional risks posed by the COVID pandemic. In order to achieve this minimum, at the start of each Quarter (1st September, December, March and June) 15 7 months’ expenditure should be in reserve, as church assessments are due at the end of each quarter, one quarter in advance. 2. To hold £100,000 against future requirements for remedial work to boundary and internal walling at Varteg Cemetery. 3. Any remaining reserves are available for Circuit or Church mission projects which may include related building maintenance or improvement works. ## **Report approved at Circuit Meeting held on 9[th] June 2022 and signed on behalf of the Trustees by its Chair, Rev Sue Lawler** 8 CCAR2020-21 ISL-KB-js106-22 CIRCUIT ACCRUAL ACCOUNTS THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS Gwent Hllls & Val•s Circuit FOR THE YEAR ENDED 31 AUGUST 2021 Wal8$ C1￿uft no 2113 R•gi5ter¢d Charfty. Charlty Roglstratlon numbgr 1140255 If not a registered ¢harity Hor ma1￿$ Revenue and Customs Glft Ald numb8r IThe HMRC number ￿u1va￿t to a registered chanty nLmber in tenns of evhjence of charilable statu$ arKI may be used to give to donors or grant furKler8 wishing to see e￿￿ence of Ihe c￿an￿110n'$ charitable status. Methodist charilies in England and wa￿ that are not registsred chairties are excepted from registratK)n under Statutory Instrument 2014 No.242) Rev S Rev G E(fvArds Rev C Lthi$ Rov S Box41 RevA Svns Circuit Stfflvard8: Mrs J EdrnuTrJs Miss J Evan5 J J¥ks¢ Mrs S MiNar Mrs R Rimmer Mrs G fmm M Webber Mvs C White MrKBai Pagelof4 Jo* 111111113 1, I111- ¢)0 c c2urJo £￿￿￿?￿U00 ts O) * ro 11£ on Iliiiiiii i.'Iil P4 1111 1111 11 11111 IEII aiii Name of Circuit: Gwent Hills & Vales No: 02113 Declarations and Scrutiny I confirm that these accruals-based accounts for the year to 31 August 2021 have been p￿pared from the records of the Circuit and that they include all funds under the control of Circuit meeting. Signature oftreasurer.................................... Name and address of treasurer. Kenneth Robin Bailey. Pembroke House. ............................. Lower ParkTerra￿. PontyFml............................................... . .. Post Code: NP4 6LB..... . resentation to the Circuit meeting I confirm that the annual ￿port and accounts for th presented to the Circuii meeting held on ... year ended 31 August 2021 wereA¥il Signature of the Chair of the trttting Name of the Chair of the meeting £ g ..LW.LEL 11 Independent Examinerfs Report to the Trustees of the Gwent Hills & Vales Circult Charity Number 1140255 Responsibilities and basis of report I report to the trustees on my examinalion of the accounts of the Gwent Hills & Vales Circuit for the year ended 31 August 2021 set out on pages 2 to 4. As the Circuit's trustees, you are responsible for the preparab'on of the accounts in accordan￿ with the requirements of the Charities Act 2011 (the Act,). I report in respect of my examination of the Circuiys accounts carried out under section 145 of the Act and, in carying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. . delete or circle as appropriate Name of Circuii: Gwont Hills & Vales No: 02113 Independent Examinefs Stat•ment The Circuifs gross income exceeded £250.000 and l am qualifEd to undertake the examination by being a qualffied member of (insert name of applKable listed bcxty). I have completed my examination. I COnfi￿n that no material matters have come to my attention in connection with the examination (other than that disclosed below"> which give me cause to believe that in, any material respecL the accounting records were not kept in accordan￿ with seGton 130 of ts AG( or the accounts do not accord with the accountirvJ records. or the accounts do not ￿mplY with the applicable requirements conceming the fomi and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a Irue and fairf view, which is not a matter considered as part of an independent exarnination the trustees, annual report is rK>t consistent with the accounts I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. I l¥*Yelhave not. obtsir￿1 independent verification of all investrnents with the Trustees for Methodist Church Purposes or held in other trusts. bank balances and funds at the Central Finance Board of the Methodist Churth which are individually in excess of £10,000 (ten thousand pounds) at the balan￿ sheet date. Signatura of independent examiner Name of independent examiner ..... Relevant professional qualification of indeperKlent examiner Address Post Code Date delete or circle as appropriat8 Sept&nber 2021 Notes to the Gwent Hills & Vales Circuit Accounts 2020-21 1 8asls crf a￿OUntIng The financia stat8mèrts have teen prepared urKlerthe (*arfY88 Aet 2011 in atttsrdan￿ vAth the 2014 version of A(£ounling and ReForb"ng ty Ch8rrbe5'. Stst*nenl of R￿0Mmer￿A Pr￿¢t￿ ISORPI 8Fplicat4e to thartbtrs p￿pann9 their aCC￿jnts in 7Ailh FRS102-the Clwitie5 SORP IFRS102) t8kirvJ ofthe UpL*ts Bulletin 1 issu&J in 2016. 2 Funds The fvnds helj constri￿. FuTrds hdd for ary WIp￿ oflhe Qrojitvthith are Un￿$￿¢￿￿. The Circuit Modd Tru8t Fund haswde purrtttt deffiwj in SI*KlrMJ OrdeTr and is Cat￿c￿ls0￿ as unTeSthcbJ. Rostrictgd funds whith ate hdd kn a narrO￿*r pur￿￿$8. Thor8 are IK) Erth￿nent fiJThts. Dgtails of ead) material fund are di6d06ed in the fina nfAe to these acmunts. Ary fiJrhts may te yesenled by more thanjust cash. 3 AGcountlng poll¢les (a) Basis valiE atthe end oflhe ￿. cffi tr* basm kn thyw a true and fairvi￿dtha Cirujrfs financial and admtiès. (b) Incomlng Resources It￿￿ne is indud&J ￿ the Ststwnurt c* Atht1￿ (SOFA) tre Cirtsjit tec0[￿ entided to the (c) Resources Expended This is T￿n￿￿e￿ a latilty i% iThJJrred. c(Thlftth OblgatiC￿ arises. that rgwtts in the ￿￿nt bging unavcidable. ￿abil￿e$ are rwnisgy a6 s¢Jon as an of e￿noMiC benefft is ¢￿s￿ler&I mre likety than not uThler Ihe or ¢¢nstr￿e ObWb.c￿ committry thè c￿￿rtIO pay res￿r¢*& (d} Grants Grants m8de by Ihe CiraAt itB fijnds a￿ rwrAsed in atlhe of &Jre4Jm•mt tyvkn the cl￿rft (o) VAT Since the Cl￿￿ is not VAT res¥*ered, am iiw VAT is Ihe exFwtses to it ref¥s. (fj Tangible flxed assets for use by the Clrcult TangI￿È fixed assets are catxtdised ¢ftW can be uwj fu mc1è1h￿ on8 year aThJ cost at le8St£5CO. Thè frèghdd proFety is sho￿￿ in th8 at2￿1 deem&J vakw, ofwknth the lar¥J trJrnw)nent of Manses value is deemed to be £250.CD). No dep￿latic￿ is pwded on the tr￿1￿j1￿J tecause t￿ trustees con%der the current rridLtal fair ¥￿ue ofthe mar￿e lyjldiros (on the a%wrnpkn that r( reacw tr* ol rts usefij ￿￿noMiC life by Ihe yèar- endl to b? not less Ihan ts ￿1rrent value. Ary depr￿¥￿.¢￿ be matsrid. Th8 wwrty has b•8n r9viwed for imp8imw)t (g) Investment Propertles Snatchwr*)d i*c¥me unwj IW frjrtheriothe Cirryjit TrLrt agwng that the thurd) ctasè to meet Imlnute 1 of 21105r20201. It was sc4d on ow*2￿21 lafterth8 ofthis reportirKJ Per￿￿ reall￿r￿j £74,523 after expenses levy. This ig I￿9*ye as a ￿rtaI R￿"pt c*) the SOFA Investment Propety efi th8 Bal￿(£ Sheet Al (h) Investments Investments ar& v8lu&Y in the bala￿ 8heetat market value at year eTrd. knvesbnent iTP)yne is [￿U￿8¢j in the aoxunts whon ￿￿ét46 and any gains OT10$8es cn revaluab.on at the year4)d 8h(r•m in the SOFA. (i) Debtors Debtors1£22,3841 ¢o¥nFxises ofSe0￿b& 2tr21 stlr•its in AL￿St 20211£14.930), pr8paymenl of 2￿21-20 Insuranc8 prwnium1£2.8841. insur￿, utilrty 8fKI essentia maintèn*th costs incurred on Snat¢hwcM)d ChaFel will bo fvrthd frcffi thè of sde l£1945) 18to rAyrn￿t of ￿ aSs•$sm￿ and donatioft 1£1,eiJ5) Prepared by: Ken Bailey. Circuit TreasU￿r 14 February 2022 Pagelof4 li) Crodltorn Creditors1£72.&911 ciAmprises the 1st quarter 2a2LY21 as8e86mert ¥ecwwJ most L*urthe$ in August 2019 (£61,134). minister F*eadw expertsts daimed after the P9riC#Y end1£5,2971, Administratorfs s918ry for August 1£524}. prokxty mairrtenarts1£3,8(tsl, ￿ clher suTrJry exwEes1£168} a￿1 for othets1£2,1651 (k) Othwoutgolngs The Inrnse frcm £5,872 in 2019r20 to £11.888 in 202W21 is ￿ to rektaI￿)n totslling £8,101 to support a r￿￿￿figural•)n ofpaStC￿l reSw)ty￿1thS ￿￿￿￿￿"[vj the stabThg of Revd Lth%i$ to Vale ol Glarnoryan Cirojit.. Minute 4.1 of Cirtsjit M••b'ThJ d 1￿1￿0 4 Payment to Trustees There ￿Te m paYrT￿nts m*J8 toiJustee6 ts a*Jibonal to tro agr88mort %%ith the Cirajit Nknts"r#J. Thi8 eX￿￿JeS sbr*ids. TNsteg expenses were: Number of Tn 14 15 Totsl amount £14,816 £17.570 Expense payments prrrrarty ￿ to reimbursmnt fortravel, pxtage. stat*Jnery and computwig 5 Fees for examInati(￿ or audlt of tho accounts 2020r21 2019120 Independent ex*nin*s or alhdllo￿. fees for reporting on the rnrrts Other fees (eg: a¢Jite, ￿)Unta￿ seThKesl pakl to the iThJew)dent examiner or auditor 275 250 NIL NIL 6 Paid omployees {•xcludlng stlpendiary mlniiter8) Staff Costs pold during tho year. Gross wages. salaries and b¢nefft8 in kind Employers Naliond Insurance costs Pens*Jn costs Total staff costs 2020f21 2019120 3.146 Averag¢ number of full-thne equlvalfynt •mployees In the year {rounded to n•arest T*hol• numb8rt: 7 Capltal Commltments and Contlngent LiablllUo8 There vMe no capital ccAnmkn)ents at 3111 A￿uSt 2021 No Contingent liabil￿eS were idgntified at 3111Augu8t 2021 P￿pared by: 8aiiey. Clrctsit Treasurer 14" February 2022 Page2of4 nlsatl¢x 2020121 2019r20 Balanco brought forward from lasty•ar 1,165 OfferingslGrfts. to External OrganisatKJns Balan￿ carrfod forward 9 Tanglble Flxed Assets Cost or valuation FIX￿re8. fftungs and •quipm8nt Paymonts on •ccount u1￿8r Land I￿11thn B8larKe bro ht foThward 1 207 270 1207 270 Additions 74.523 Revaluations Dis Transf•rs' Balance carried fornvard 74,523 1,281793 Accumulated doprnclatlon Balan￿ brou ht forward Depreciation charge for Revaluations Dis Is Transfers" Balance carried forward Not book valuo Bro ht forward 1207,270 1,207,270 Cgrrigj forward 1281793 Prepared by. Ken Bailey. Circuit Tre•svrer 14 February 2022 Page 3of4 Manse¥: There has been no change to the manse e*te during the y&gr. Valuaticffls have been compared with online sources and as at December 2021 the l¢ywer bound of expected sale value is £1.548k. Other Property". snatChw(￿￿ Chapel becane unu58d during the year further to the Circuit Trustees agreeing that the church cease to meet (minute 1 of 21105r2020}. It was sokl on OY09r2021 {after the erKI of thr8 reporting per￿) realising £74.523 after expenses and Connexb)nal18vy. This vaue is therefore shrywn as a Capital Receipt on the SOFA and an Inveslment Property on the Balance SheeL 10 Investsnent assets The circuit look responwlylity for SnaIchwr￿d Chard was di5Used and was Sold after the year 80 was earri&g on the balan￿ SI￿ * the reali8ed value. The urcuit has Th) ccfftn￿ InVeStr￿ fund hoklings 11 Loans At 3161 August 2021 the Qrcuit was nL* in rw of any kw18 and has no outslandlng k)ans to others. The was the case at 31* August 2021. 12 Analys18 of restrlcted and designated funds 202(￿21 Ro8trlcted Fund Namo Openlng Balance Incwilng Trnnsfers Closing Purpose of th• fund for Youth Work ResIr￿ed Varteg Donat￿5 Restricted Varteg ReseNe Ioesignatedl 12,988 12,986 Youth Wofk (note Upkeep ofvarteg Cemete Futur8 major repairs to Varteg Cemét8 1￿.0[￿) Totals 500 112. 112, 1. It tecame known during the year that the CFB3 xcount was inherited from the old islwyn Circurt and is a testiKled ftjnd. This not been reported Cor￿ in previcmjs accounts. Cir¢urt Meeting minute 5.1lal of 1PJ0¥2021 refers. 2. The Trustees d￿lded to reserve £1CQk against likety fLrture major ffraintenance expenditure at Varteg Cemetery. Circuf( Meeting minute 5.1.2 of 10109r2020 refers. 3. The Trustees decidèd to transfer £100k for the Varteg Reserve fro¥n TMCP to CFB. plus £77k SFent in pwN)us years on manse improvemerrts and wall repairs at Varteg. Comparative analysis of Trstricted and designated fvnds 2019-2020 Rostricted Fund o￿nIng Balance InGomlng Resources CIoslDg Balanc• Purpose of the fund There were r restrict8d or nated fvnds Totals Prepared by: Ken Bailey, ￿rtU1t TreaSU￿r 14 February 2022 Page4of4 Name of Circuit: Gwent Hills & Vales NO". 02113 Declarations and Scrutiny I confinn that these accruals4)ased accounts for the year to 31 August 2021 have been prepared from the record3 of the Circuit and that they indude all funds under the control of the Circutt meeting. 01214 Signature oftreasurer.................................... Date... Name and address of treasurer: Kenneth Robin Bailey. Pembroke House, .... LowerparkTerrace, pontypooi..................................... Post Code. NP4 6LB..... -presentation to the Circuit meeting I confirm that thè annual report and accounts for th pr&sented to the Circuit meeting held on .11101 year endéd 31 August 2021 werelwilw Signature of the Chair of the meeting Name of the Chair of the meeting 11 Independent Examiner's Report to the Trustees of the Gw8nt Hills & Vales Circuit Charity Number 1140255 Re5ponslbllities and ba515 of report I rp.pnrt to th@. triistoos on my èxamination of th•. aecA)unts nf thp fiWP.nt Hillq k VAlp.q pirr.iiit for thg yeai ended 31 August 20215et out on pages 2 to 4. A5 the CiiGUit'5 tIU5tee5, you ale iebpon5ible for the preparation of the accounts in accordan￿ with the requirements of the Charities Act 2011 ('the Acf). I report in respect of my examination of the Circuit's acGounts carried out under section 145 of the Act and, in carying out my examination, I have followed all the applicable Directsons given by the Charity Commission under se￿10n 145(5)(b) of the Ad. . delete or circle as appropriate Name of Circuit: Gwant Hllls & Vales No: 02113 Independent Examlnerfs Statement The Circuit's gross income exceeded £250,000 and l am qualified to undertake the examination by being a quallfled member of {ins8rt name of appliGablv lisled body). I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed belo￿) which give me cause to believe that tn, any material respect: the accounting records were not kept in accordan￿ with section 130 of the Act. or the accounts do not accord with the accounting records. or the accounts do not comply with the applicable requirements conceming the foTh and content of accounts set out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view, which is not a matter considered as part of an independent examination the trustees. annual report 18 not eonsistgnt with the accountg I have no COn￿M$ and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. I l¥u*lhave not" obtsined independent verification of all investrnents with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central FinanGe Board of the Methodisl Cliurcli which are individually in ex￿SS of £10,000 (ten thousand pounds) at the balanc8 sheet date. Signature of independent examiner Name of independent examiner Relevant professional qualificAtion of indeperKlent pxaminer Address Post Code Date delete or cirde as appropriate September 2021