THE GWENT HILLS AND VALES CIRCUIT OF THE METHODIST CHURCH TRUSTEES, ANNUAL REPORT TO THE CHARITY COMMISSION FOR THE YEAR 1st SEPTEMBER 2023_ 31st AUGUST 2024 Introductlon 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 fomially acknowledged on 18t September 2009. At the beginning of the year under review, the Circuit consisted of twenty-three churches located across several valleys in south Wales and extending north*ast to the border with England. The Circuit's trustees are the members appointed by the enty-three 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 four ordained ministers. We continue to re1ve significant assistance from ministers retired from the full-time work, but who are still active in leadership. Five lay persons have been appointed as circutt stewards, and three other lay persons have specific responsibilty 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 Circutt, 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. bLrt the Circuit has set certain priorities and placed emphasis on certain activities to encourage them to cary out their mandate. Review of the Year The Circuit ensures that services of worship take place regularly in all its churches arKI that buildings and ministers are available for special seNices. including baptisms, weddings and funerals. Wherever possible, services are offered to appeal to various groups within society such as children, families. arKI adults with leaming difficulties. SeNices are routinely led by lay (Local) Preachers as well as ordained ministers. During this Connexional year two Local Preachers received authorisations to preside the Lord's Supper and there were three new Local Preachers in training. Some of the churches registered their buildings for the marriage of same sex couples. Some of the churches have achieved 'Bronze Eco-church, accreditation in their efforts to work towards the Methodist Church's Net Zero target (2030). Another of Ihe Circuit churches continues to host a large and growing Tongan congregation which meets regularly for worship and also contributes to mission and outreach in the local community. Practices which began as a result of the Coronavirus pandemic (namely services by Zoom and the distribution by post or email of sermons and service sheets to those who a housebound) have continued arKI are regarded as a postrtive outcome of an otherwise difficult time. There now exists within the Circuit a 'Zoom communty, which meets weekly for worship, prayer, Bible study and fellowship. The digital platfonn has enabled people from all over the world to join in the activities, along with local people of different denominatFons and those with no regular church connections. The practice of using Zoom for trustee meetings has ceased since the end of the pandemic but Zoom continues to be used for meetings of the Circuit Leadership Team. Pastoral visiting by both lay people and ordained staff happens regularly across the Circuit and some members (who due to age or infimiity cannot come to church) receive Holy Communion at home or in residential care. Pastoral care and support is also provided through telephone calls. email and letter. The Circuit produces a quarterly newsletter - The Vine - which facilitates communication across the Circuit, shares
good news and promotes issues of current concemlinterest within the wider Methodist Church. The Circuit has encouraged all churches to consider their environmental impact and to work wherever possible towards carbon neutrality by 2030. Some of the churches have engaged in the Eco-church programme andlor undertaken environmental impact assessments of their buildings. The Circuit has supported churches in this through its 'Green Strategy,. Most churches provide outreach to their local community through weekly coffee momings, helping to redu social isolation and, during a period of rising energy costs, offering 'Wam Spaces, to those experiencing 'fuel povety,. Most churches also support local Foodbanks. The Circuit and individual churches have supported (through prayer and financial giving) the work of their members overseas, notably on 'Mercy Ships, (providing medical assistance to developing countries), the 'Project Misa Lole, (sending furniture to Tongan churches affected by the tsunami of 2022), and 'Love Zimbabwe, (providing support for community development and the relief of poverty). The Circuit continued the implementation of 'Equality, Diversity and Inclusion, (EDI) training for ministers, Local Preachers, Worship Leaders, Circuit and Church stewards, and the Circuit Safeguarding Officer. The Circuit appointed an EDI Officer. Income Trends The Circuit income is primarily drawn from assessments paid by the circuit churches, totalling £270.772. Total income for the year was £348,717. Of this. £45,000 was the retum of a prior year donation to the Methodist Church Pension Reserve Fund plus £3,852 interest. This was found to be no longer required following an actuarial review of the fund. A grant of £10,000 was received from the Methodist Church New Places for New People Fund to support rugby outreach work with children.
Expenditure Trends Stipend expenditure has increased each financial year in line with increases approved by the Methodist Conference. The expenditure budget approved for the year was £314,844. This was to be funded as follows: Average of 3 previous years, budget surpluses from reserves Subsidy from reserves to assist churches post COVID Assessment on churches £18,169 £25,915 £270,760 The actual spend against budget forthe yearwas £303,213. The main components of the £11,631 underspend were: Pension budget fonnula error Trdvel and Relocation £1,953 -£4,876 -£4,390 -£3,721 £1,400 Manses R & M Council Tax - single occupancy discounts Contribution to Castle St Electrical remedial work Print Stationery Post Other -£2,138 £141 Total Expenditure Variance -£11,631 21.40/0 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 31st August 2024. the net current assets of the Circuit were £269,264 giving approximately 9 months, cover for expenditure. This is a reduction of £245,040 partly due to the purchase of a replacement manse prior to the sale of resulting surplus propety. The trustees are making reserves available for church and circuit mission projects. and the improvement of Varteg Cemetery to bring it to a safe and sustainable condition. Plans for 2024125 Circuit financial plans for 2024125 have been prepared based on an on-going. full-time ordained staff of four. a part-time administrator and cost of living stipend increases.
This resulted in a budget of £310,088. Of this. £21,379 was to be funded from prior years, surpluses held in reserves. Basis of preparation and legal framework The Charity's annual report and accounts for the year ended 3151 August 2024 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 Reglstration Charity Number: 1140255 Date of Reglstration: 2009 Maln Communication Address: Circuit Office, Castle Street Methodist Church, Castle Street, Abergavenny, NP7 SEE 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 Ministèrs and Offjcers Active Ministers.. Rev. Catherine Brobbey, Rev. Stephen Boxall, Rev. Lorette Hinson, Rev. Andrea Sims Supemumerary Ministers: Rev Anthony Gregory, Deacon Gwenllian Knighton, Rev Roy Watson Mrs Celia Price Retail Chaplain: Circuit Finance Officer.. Mr Ken Bailey Circuit Property Steward.. Mrs. Jan Jackson Circuit Local Preachers Secretary.. Miss Margaret Webber Circuit Stewards.. Miss Jane Evans," Mr Gareth Holyfield. Mrs Karen Jones. Mrs Sian Millar., Mrs Rachel Rimmer. Mrs Gillian Timm Ms Joanna Saunders Mr Ken Bailey functioned as the principal offIr overseeing the day-to-day financial management and accounting for the circuit during the year. Circurt Administrator.. Circuit Treasurer..
Independent Examiner: Newton Green & Co. 17 Wyelands View. Mathem. Chepstow NP16 6HN Central Finance Board of the Methodist Church, Trustees for Methodist Church Purposes. Investment Bankers: Objectives and Purpose The charty objective is to function as a resource provider for the Methodist Church within the area around the valleys of south-east Wales. 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 semions. counses 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. Publlc Benefit We confirm the trustees have had regard to the Charity Commission's guidan on public benefit. Structure, Governance and Management The goveming document for the circuit is the Deed of Union {1932) and Methodist Church Act (1976). Detailed govemance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference (CPD).
Day to day managemenl 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 guidan produced by the 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 811 new Circuit meeting members as induction to their role as trustees. Related Parties The Circuit is part of the Wales Synod Cymru and is also accountsble to the Methodist Conference. The following Methodist churches are linked to the Circuit at the end of the reporting period: Abergavenny. Beaufort Hill, Bedwas. Blackwood, Blaenau Gwent, Blaina, Cwmcelyn. Fairhill. Gamdiffaith, Glasbury, Hope, Llanelly Hill. Llanyrafon. Nantyglo. Pontllanfraith, Pontnewynydd, Race, St. James. Tredegar. Trinity, Tyllwyn. Upper Wes>ey ??ace. 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-yearfy 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 infomied vigilance as to the dangers of abuse. We will carefully select and train all those with any responsibilty 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. 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 ferrdl to the proper authorities, to any member of our church communty 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 arKI Vales Circurt commits itself to ensuring the implementation of Connexional Safeguarding Policy, govemment 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. Supervlslon The Gwent Hills and Vales Circuit fully embraces the requirements of the Methodist Church's Supervision Policy 2021. Supervision in the Methodist Church is an exploratory arKI 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 govemment 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 tenn. 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 (18t September, December. March and June) 15 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 intemal 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 12th June 2025 and slgned on behalf of the Trustees by its Chair, Rev Catherine Brobbey SIGNATURE: DATE:
CIRCUIT ACCRUAL ACCOUNTS THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS Gwent Hills & Vales Circuit FOR THE YEAR ENDED 31 AUGUST 2024 Wales S nod District Circuit no 2113 Registerèd Charity - Charity Registration number 1140255 If not a registered charity Her Majesty'5 Revenue and Customs Gift Ald number (The HMRC number is equNalenl to a registered charty number in lerrns of evidence ol charitable slalus and may be used lo give to donors or grant lunders wishing lo see evidence of the organisatn,$ charitable status. Methodist charities In England and Wales that ar6 not registered charities are exceptad from re91slr8lion under Statutory Instrument 2014 No.2421 inisters.. Rev S 8oxall Rev A Sims Rev L Hinson Circuit Stewards. J Evans J Jackson K Jones S Mi118r R Rimmer G Timrn M Webber TreasLJrer". K Bail Pa8elo14
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Name of Circuit.. Gwent Hills & Vales.............. No.. 2113........ Declarations and Scrutiny I confimi thal these ac¢ruals-b3sed accounts for the year to 31 August 2024 have been prepared from the records of the Circuit and that they include all funds under Ihe control of the Circuit meeting. Signature of treasurer Date. 04 2f Name and address of treasurer.. Ken Bailey, Pembroke House. Lower Park Terrace, Pontypool.. Post CcMJe'. NP4 6LB ........ Presentation to the Circuit meeting I confirm that the annual report and accounts for the year ended 31 August 2024 werelwill be" presented to the Circuit meeting held on.. 12th June 2025 Signature of the Chair of the meeting.. Name of the Chair of the meeting.. Rev Catherine Brobbey.................... Date.. 12 Independent Examiner's Report to the Trustees of the Gwent Hills & Vales Circuit Charity Number 1140255 Responsibilities and basis of report I report to the trustees on my examination of the accounts of the Gwent Hills & Vales Circuit for the year ended 31 August 2024 set oul on pages 1 to 4. As the Circuit's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of Ihe Circuit's accounts carried out under seclion 145 of Ihe Act and, in carrying out my examination, I have followed all the applicable Directions given by Ihe Charity Commission under section 14515)Ib) of the Act. delete or circle as appropriate
Name of Circuit .Gwent Hills &Vales....-........................................... No...2113........ Independent Examiner's Statement The Circuit's gross income eXded £250,000 and l am qualified to undertake the examination by being a qualified member of The Instrtute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below.) which give me cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Act,. or the accounts do not accord with the accounting records. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that Ihe accounts give a 'true and fair. view, which is not a matter considered as part of an independent examination the trustees, annual report is not consistent with the accounts. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounls to be reached. I haven)ave not. obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balanS and funds at the Central Finance Board of the Methodist Church which are individually in eXsS of £10,000 (ten thousand pounds) at the balan sheet dale. Signature of independent examiner Name of independent examiner.. ..RAYMONDJOHN LEWIN...................................... Relevant professional qualification of independent examiner.. .CHARTERED ACCOUNTANT. Name of firm (where appropriate).. Newton Green Chartered Accountants Address.. 17. Welandsview, Mathern, Chepstow............................................................. Post Code.. NP16 6HN... Date: delete or ¢ir¢le as appropriate
Notes to the Gwent Hills & Vales Circuit Accounts 2023-24 1 Basis of accounting The financial statements have been prepad under the Charibes A¢t 2011 In accordanc8 with the 2014 versh)n ofA¢¢ounting an¢ Reporting by Chanlies.. Statèment of Recommended Practice ISORPI applicable lo charities preparing their accounts in aCrdanCe Wllh FRS102-the Charibes SORP IFRS1021 and taking nots of the Uoale Bullètin 1 issued In 2016 2 Funds The funds held constitute General Funds helo for any purpose of the Circuit which ar8 Unrestricted The Cir(yJit Modèl Trust Fund has wide purpe5 defined In Standing Orders 2nd Is ¢alegorised as unrestri¢ied. Restricted funds a money eived tg be spent for a defined purpose The ale no Endowment ftjntts Detai15 of each matÈnal fund a disclosed in the final n(e to these attounts. Any fund5 may be presented by more than just ¢ash. 3 Accountlng policies lal Basis These accounts have been prepared on the basis of h151oriral cnsl expt thai investrnents ère shown at their market value at the end of the year. on the accrua15 basi8 to show a true and fair wew of Circuit'5 fin8ncial position and actswties. (bl Incomlng Resources Income Is In¢luded In the Slalement of Financi41 Actiwties ISOFAI when th& Cirajit be¢ome5 enlided to the resour, and the trusioès are re83onably certain they will receive the resource. and the monetary value can be measu wth suffient r8liaknlity Icl Resources Expended This $ COgniSed when a liability Is incurred. or a conslrucb.ve obligation aTrses, that iesults in the p8ymeni being unavoidable. Liabilitses 8re recognised 85 soon as an ouffiow of 8conomi¢ benefit Is considered more likely than not unckr the legal or constructive obligaiion COmFnithng the CiroJft to pay out resources. {d> Grants Gran15 tnade by the Circuit from its own funds a recognised in full 2t the time of agreement or when the Circuit accept5 thal Ihefe 1$ a legal or operational &tl9atIOn to make the payment. The following grants were made" Grant to Tnnity Abersychan for fenryng work Giant to Sl James's for èxtenor painting Total £2,480 £975 £3.455 {el VAT sin the Circuit is not VAT wist$r6d, all Input VAT is charged with the expense to whKh it refers lfj Tangible flxed assets for use by the Circuit Tangible fixed assets are ¢apiia115ed If they ¢an be used for more Ihan one year ancl cost 81 least £SOO. The freehold property 15 shown In th& accounts at 2024 ¢eemed valuos, of ¥vhich the land component of Manses value Is deemed to be £250,0. No depreciation Is provided on the buildings because the trustees ron51der the current residual frdir valle of the man58 buildings lon the assumption that It had reached the end of Its Useful economic life by the year-endl to be not less than its CUent value. Any deptratIOn would not be m8terial. The prop8rtEs have been reviewed for imp81rment. Igl Investment Properties At the start of the year the CifcuII w25 responsible for 4 empty chapels. Pontypool Panleg, Abertillery and Trinanl They were shown as Invèstm&nt Properties on the prior year balance Sheet. Ounng the year no additional chapels became the circuit's responsibility Ounng the year Abertillery and Tnnant were sold. Abertillery realised the balanc& Sheet value Tnnanl alised more Ih8n the Balance Sh8et valuation which Is shown on th8 SOFA as a Gain on Inveslmeni Property The other 2 prop&rtS were Uns0 al the end of the year and are shThn In Investrnents Properties on the year-end Balance Sheèt. financial treatment of the 4 propert5 IS SUmTnarised bdow Balarte Sheet 8rgh Survèy F(vward VAlustH)n £0 Capital Receipt SOFA GAinllLo$$ SOFA rcH¢ Sheel C8ffl F0Th4ard Eslirnated Exp8nses Estimated CPFL 5a Pn Exrnse¥ CPF Levy PDtyP4 PAnie9 Aberfillery Tnnanl £0 £0 £85,WO £46.594 £42.WD to £8S.O £0 £64 000 -£19WO eo £4 782 £0 £0 £60.200 45,&88 -£7 430 £0 Total £173 594 £0 £85 000 Prepared by.. Ken Bailey. Circuit Treasurer 11 March 2025 PaEelof5
Pontypool Chapel became unused during 2021-22 further lo the Circuit Trustees agreeing that the church Cease to meet (minute 5.2 of 17103120221. The Tru$tees approved the diswsal of the property Iminute 6 1 0116103120231 The land Is leasehold It has not yet been possible to obtain a valustion No Capital Receipt has been recorded 10 date an(1 the Is no value in¢luded In Investment Properties on the 8alance Sheet. Panteg Chapel becarne unused during 2021-22 The Circuit Trustee$ age¢ that the church ase to meet, and that the property be sold Iminute 6 2 16103120231. The prokErty 5 expected to be 501d in 2025. Abertillery Chapel unused dunng 2021-22 fvrther to the Circurt Trustees agreeing that the church ase lo Meet (minute 5 1 0117103120221 The Trusiees approved the sale of property Itninute 6.2.2 of 17103120221. The prowty w35 sold In October 2023 for £64.000 realising £46.594 rÉl of le £nd expenses This was the value held on the balan sheet so thero was no gain or loss Trinant Chapel became unused during 2021.22 further io the Circuit Trustees agreein9 tt the church eeasè to rnset Iminute 5 1 of 09106120221 Trust8es approved the sal& ofthe property Iminute 6 2 2 of 08109120221 The property was sold In February 2024 for £65,000 realising £46,782 net of levy and exp8n585. This 15 a gain of £4,782 against the balance sheet valuation. Five Manses are held for the long-terrn purpo8es of the chanty {hl Investments Investments are valued in the balance Sheet at market V81ue at the yèar end Investment Income is induded in the accounts when 1Vable and any gains or losses on revaluation at th& year-end a shown In the SOFA Debtors Debtors ¢Dmprise Prepayment of September 2024 stipends In August 2024". Insurance, utility. and e5senti81 Maintenan costs of closed Chapels to be funded from prcteeds of salè". Total £13,764 £26,740 £40,503 Ul Creditors Creditor5 comprise. 1st quarter 2023124 assessment CeiVed from m051 churches in August 2023.. Propety maintenance. Minister and prèachgr exp8nses claimed after year end. Reteipts for others HMRC Bank chargès". Totsl £63,457 £262 £3,411 t410 £310 £5 £67.855 Ikl Income from Investment Propertles The was no Inme from Inve51menl properties cjuring the year. 111 Gainslllossesl on investment properties Abertillery chapel was sold for £64.000 The value of legal and 8gent5 fees was pai¢J into the General Fund wrth baLqnce paid into the me1 Trust. A vY was laken for the Cffinexional Priority Fund in accordance with Standing Orders Sinc8 closure the Circuit had spent £5,070 on insurance, utslity, legal and Maintenan costs. The property had been valued on the Balan Sheet at £46,594. The net gain on s81e was therefore £0 as detsikd below and shown on the SOFA row 19. ltsm eno rust £56 581 Sale Pre Legal and agent's fees Connexional Priority Fund Levy Insurance, utilty. legal and m8intenan(t Costs Balance sheet valuation Total Gain £7419 -£5.019 £64.tK)O -£5.019 -£7.316 .£5.070 -£46.594 £0 -£7,316 .£5.070 -£46.594 49.264 £49.Z64 Trinanl chapel was sold for £85.000. The value of legal an¢ agent's fees wa$ pa inio the General Fund with the balance paid Into the Model Trust. A levy was taken for the Connexional Priority Fund In accordance with Standing Orders. Since dosure Ihg Circuit had Spent £5,910 on Insurance, utility, legal and maintenants costs The property nad been valued on th8 Balance Sheet al £42,000. Th8 gain on sale was therefore £4,712 as detailed below 2nd shown on the SOFA row 19 Sale Price £7,847 L8gal and agent's fees -£4,877 ConnexiotEI Pnority Fund Lewy Insuran, ulilty, legal and rnaintenance costs 8813nce sheet valuation Total Galn £57,152 £65.(QO -£4.877 -£7,430 -£5,910 -£42,000 £4,781 -£7,430 -£5,910 -£42.(MX) 44,940 £49,721 Prepared by.. Ken Bailey, Circuit Treasurer Il" March 2025 Pa8e2of5
ImlDonations The following donatyons We re1Ve{l. From: Fairhill Methodist Church St James Methodist Churth MelhodBt Church Pension Reserve Fund MelhcéL51 Church Pension Reserve Fund MeihoYLst Church New Pls¢e for New People Fut Upper Trosnant Baptist Church Total For- General fund (continued 2022-2 8ssessment valu81 General fund (overpayment of assessrnenti Repaylnenl of donation me in Nov 2021 Interest on donatson msde In Nov 2021 Rugby Outreach expenses Irestrictedl Market Chaplaincy Expenses Irestrictedl £1.104 £3 £45,000 £3.852 £10.CQO 00 £60,159 4 Payment to Trustees There We no payments me to trustees for additional services promded to the Circuit by 8g168m•nt with the Csrcuit Meetsng. This exdudes 51ipends. Trust9e expenses were. 2023124 2022123 Number of Tiustee5 Totsl smount 17 £20 647 £16,944 Expense payments primarily relate to reimburs8m8nl for tr8vel, postsge. statiorry and printing wsts. 5 F••8 for oXamInaOn or audlt of the a¢¢ounts 2023124 2022123 Indèpendgnt 8xaminef$ or auditors, fees for reporting on the accounts other fees leg" advits. accountancy servic851 paid to the Independent examiner or auditor 375 330 NIL NIL 6 Paid •mployees lexcluding Btipendiary mintstsrs. ¢08¢s gf £165,149) Staff Costs paid during the year.. Gros5 wages. salaries and benefits in kind Employer's Nation81 Insurance co$ls Pension (x)sts Total staff costs 2023r24 2022r23' 15,641 14.341 903 939 734 17,483 15.935 ' 2022ttJ Gross 8nd Total ov&r-Teported by £2.023 last year Average number tsf lull-time equivalent employee¥ in the year Irounded to neare$t whole numbrl'. 7 Capital Commitments and Contlngent Llablllti•s There were no capital commitsrents at 3151 August 2024 No ContiThJent118bililies were Kjentyfied at 3151 August 2024 8 Money received ond pa8$0<1 on to Extsmal Organigations 2023Q4 45 3.312 -2,947 410 2022123 3.725 5.312 -8,992 45 Balance brought ton¥ard from last year OfferingslGifts- received for Exteinal OrganisatlOnS OffenngslGifts- passed lo External Organisalions Balance carrlèd lorward Prepared by.. Ken Bailey, Circuit Treasurer 11 March 2025 Pa8e3ofS
9 TangTrble Fixed Assots C08t or valuatlon Payments tsn a¢¢ount and a5$ets undor con$tru¢tion Fixture$, fitting8 and equlpment Other Land Man$e$ Total Balan brou AltiOnS Revaluations osals Transfers. Salan carried forward ht forward 1.240,070 336,827 173.594 1.017 1.414.681 336,827 -88,594 .88,594 1,576.897 8S,000 1.017 1,662.914 Ae¢umulatsd doprèclatlon ealance brou ht forward Depreoation charge for year -1,017 -1,017 -678 -678 RevaluatlOn5 osals Transfets. Balance cArrd forward -1,695 -1,695 Net book value Brou ht forward Carried foard 1.240.070 1,576.897 173.594 85,000 1.017 339 1.414.681 1,662,236 Blaina manse was purchased during the year replacing Brynmawr manse which Is being sold Valuations have been compare# with online Sour Aversge sale vsluès of neight)ouring propertses in 2024 total £1.783.750. Other bulldlngs.. Abertillery and Tnnant Chap81s were sold during the year The rircurt contsnued to be responsible for Panteg and Pontypool chapels which Il Is seeking to sell See note 3191 for further detail. 10 Inve$tm•nt a¥80ts Abertillery and Trinanl Chapels were sold during the year The orcuit continued to be respon51ble for Panteg and POnty01 chapels which il is 888king to sell. See nots 3lgl br furtrer detsil. The Circuit has no common investment fund holdings 11 Loan8 AI 3151 August 2024 a loan of £3.285 to Bla6nau Gwent Methodtst Church was outstanding Prepared by.. Ken Bailey, Circuit Treasurer Il, March 2025 PaBe4ofS
12 Analysis of rostrictsd and de8ignatsd funds 2023-24 Fund Name Openlng Balance Incomlng Resource8 Resources Expended Tran$f¢rs Closlng 8alan¢e Purpose of the fund Fund for Youth Work IRestnc¢edl Donation flom 8.110 475 2,622 5,963 Yotsth work (note 11 2( 100 loo Pontypool Market Chaplaincy Rusbyoutreach Grant from New Place5 for New People Totol Resfrirted Funds Varteg Reserve (Designated) Church Mlsslon io.( 2.837 7.163 8,110 10.675 5.559 13.227 97.828 16,757 81,071 Major repair5 Varte Cemetery Inore 21 To support churth proj8ct5 (note 31 97.750 3,455 94,295 Total Desi8thated Funds Notes. 195.578 20.212 175.366 The CF83 a¢¢ouni was infritod trom the old Islwyn Circuit and Is a rèstrictsd fund. Circuit Me8ting minute 5 1lal 011810312021 refers. Incoming resource8 were t250 donation and £407 Interest The Trustees de&ded to reseN8 £100,000 against likely future major maintenance eXndItUre al Varteg Cemetery Circuit Meebng minute 5.1.2 of 1010912020 refets. These funds were transferred in 2021-22. Trust885 d8cid8d to allocate £100.WO to support church mission projects In accordan wrth the Circuit Strategy 2021-2026 and the supporting Funding for Church Project Policy. Circuit M8etirE minutes 2 2 8nct 2.3 of 0910912021 refer. These funds We transferred In 2022-23. Comparative analysls ofrostrittted and d8sign8t8d funL4s 2022-2023 Fund Nam• Openlng Balance Incomlng Resourcos Re80urces Expended Transfers Closlng Balance Purp08e ol the fund Fund for Youth Work lQ,612 657 3.159 8,110 Youth work Inoie 11 Toral Restrlrted Funds Varteg Re5eTve IDesi8natedl 10,612 657 3,159 B,110 99,088 1,260 97.828 Future major repairs to Varteg Cemetery nDle 2 To support church projects Inole 31 Church Mission Pro ecrs IDesi natedl Total De5i¥nated Funds loo.000 2.250 97.750 9988 100.( 3.510 195,578 13 Tran$fgr8 The followiw transfèrs took place from the m£e1 Trust Fund to the Gèrral Fund.. Blaina manse was purchased for £333 OLKI with funds from the Model Trust 11 Is now hekl as an asset In kne General Fund £9,600 was transferred from the Model Trust to fund work on the Varteg Cemetery walls. Prepared by.. Ken Bailey, Circuit Treasurer Il" March 2025 Page5of5
Name ofcircuit: Gwent Hills &Vales............................................................ No.. 2113........ Declarations and Scrutiny I confim that Ihese a¢¢ruals-based accounts for the year to 31 August 2024 have been prepared from the records of the Circuit and that they include all funds under the control of the Circuit meeting. Signature of treasurer 04 2f Name and address of treasurer.. Ken Bailey, Pembroke House, Lower Park Terra, Pontypool.. Post Code: NP4 6LB........ Presentation to the Circuit meeting I confinn thal the annual report and accounts for the year ended 31 August 2024 werelwill be" presented to the Circuit meeting held on-. 12th June 2025 Signature of the Chair of the meeting.. Name of the Chair of the meeting.. Rev Catherine Brobbey...... Date.. 12 Independent Examinerfs Report to the Trustees of the Gwent Hills & Vales Circuit Charity Number 1140255 Responsibilities and basis of report I report to the trustees on my examination of the accounts ofthe Gwent Hills & Vales Circuit for the year ended 31 August 2024 set out on pages 1 to 4 As the Circuit's trustees, you are responsible for the preparation of the accounts in accordan with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Circuil's accounls carried out under section 145 of the Act and. in carrying out my examination, I have followed all the applicable Directions given by the Charty Commission under section 14515)Ib) of the Act. delete or circle as appropriate
Name of Circuit .Gwent Hills & Vales... No...2113........ Independent Examiner's Statement The Circuit's gross income exceeded £250,000 and l am qualrfied to undertake the examination by being a qualified member of The Institute of Chartered Accountants in England and Wales. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below") which gNe me cause to believe that in, any material respect-. the accounting records were not kept in accordance with section 130 of the Act; or the accounts do not accord with the accounting records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal Ihe accounts give a 'true and fair, view, which is not a matter considered as part of an independent examination the trustees, annual report is not consistent with the accounts. I have no concems and have come across no other matters in conneclion with the examination to which attention should be drawn in this reporl in order to enable a proper understanding of the a¢untS to be reached. I haven)ave not. obtained independent verification of all investments with the Trustees for Methodist Church Purposes or held in other trusts, bank balances and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thousand pounds) at the balance sheet date. Signature of independent examiner Name of independent examiner.. .RAYMOND JOHN LEWIN...................................... Relevanl professional qualification of independent examiner.. ..CHARTERED ACCOUNTANT. Name of firm (where appropriatel.. Newton Green Chartered Accountants Address.. 17. Welands View, Mathern, Chepstow............ Post Code.. NP16 6HN... Date: delete or circle as appropriate