## **THE GWENT HILLS AND VALES CIRCUIT OF THE METHODIST CHURCH TRUSTEES’ ANNUAL REPORT TO THE CHARITY COMMISSION FOR THE YEAR 1[st] SEPTEMBER 2024 – 31[st] AUGUST 2025** ## **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-three churches located across several valleys in south Wales and extending north-east to the border with England. The Circuit’s trustees are the members appointed by the twenty-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 receive significant assistance from ministers retired from the full-time work, but who are still active in leadership. Six 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. This individual also fulfils the role of Safeguarding Officer for the circuit. 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 encouraged 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** The Circuit ensures that services of worship take place regularly in all its churches and that buildings and ministers are available for special services, including baptisms, weddings and funerals. Wherever possible, services are offered to appeal to various groups within society such as children, families, those in residential/nursing homes and culturally diverse communities. Services are routinely led by lay (Local) Preachers as well as ordained ministers. During this Connexional year two Local Preachers once more received authorisations to preside at the Lord’s Supper and there were two Local Preachers in training. One of the Circuit churches supports a large and growing Tongan congregation which meets regularly for worship and contributes to mission and outreach in the local community. One of the members of the Tongan community was ordained by the Tongan Methodist Church in 2024 and was granted authorisation by the Methodist Church in Britain to serve as a presbyter in the Gwent Hills and Vales Circuit. The Circuit continues to host a ‘Zoom community’ which meets weekly for worship, prayer, Bible study and fellowship. The digital platform has enabled people from all over the world to join in these activities, along with local people of different denominations and those with no regular church connections. Zoom is regularly used for meetings of the Circuit Leadership Team and is used once a year for a hybrid Circuit meeting. This use of Zoom helps reduce the Circuit’s carbon footprint, as well as the need for travelling, and contributes to increased participation in the Circuit’s decision-making processes. Pastoral visiting by both lay people and ordained staff happens regularly across the Circuit and some members (who due to age or infirmity cannot come to church) receive Holy Communion at home or in residential care. Pastoral care and support are 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 concern/interest within the wider Methodist Church. The Circuit is working towards increasing and improving its use of social media. 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 and/or 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 mornings, helping to reduce social isolation and, during times of rising energy costs, offering ‘Warm Spaces’ to those experiencing fuel poverty. Most churches also support local Foodbanks. A chaplaincy team led by one of the Circuit Local Preachers exercises a ministry to a local market and supermarket. This retail chaplaincy team provides pastoral support and prayer and fundraises for a wide number of charities. The team celebrated the 10[th] anniversary of its ministry during this year. The Tongan community present within the Circuit exercises a growing ministry to its local area through the provision of food and friendship. Its members, under the leadership of the presbyter authorised to serve, also offer extensive outreach to children and their families through the ongoing Circuit Rugby Outreach project. The Circuit and individual churches have supported (through prayer and financial giving) the work of Methodist Homes (MHA), Methodist Women in Britain, All We Can, Action for Children, Christian Aid and ‘Love Zimbabwe’ (the latter providing support for community development and the relief of poverty). During this year, three of the churches celebrated significant anniversaries (150, 175 and 200 years of worship and service); one of the manses was sold; one of the churches was sold; one congregation ceased to meet and its members transferred to a nearby Methodist Church; two of the churches voted to merge, forming a single church council. In the light of the changes and challenges being faced, the Circuit accepted the offer from the Connexional Property Team to undertake a review of the Circuit property in the forthcoming Connexional year (beginning September 2025). The Circuit Leadership Team has continued to reflect on the issues faced by the Circuit, namely, falling membership numbers; ageing congregations; responsible stewardship of finance and property; the conduct of worship with fewer Local Preachers and ministers. The Circuit Leadership Team continues to explore the possibility of employing lay people to share in the work of mission and outreach, particularly in those areas of the Circuit which experience the most social deprivation. The Circuit completed the implementation of ‘Equality, Diversity and Inclusion’ (EDI) training for ministers, Local Preachers, Worship Leaders, Circuit and Church Stewards, and the Circuit Safeguarding Officer. ## **Income Trends** The Circuit income is primarily drawn from assessments paid by the circuit churches, totalling £284,634. Total income for the year was £301,348. ## **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 £310,088. This was to be funded as follows: |as follows:|| |---|---| |Average of 3 previous years’ budget surpluses from reserves|£21,379| |Assessment on churches|£288,709| The actual spend against budget for the year was £306,255. The main components of the £3,833 underspend were: |the £3,833 underspend were:|| |---|---| |Local Preacher Trainer contributions|-£3,643| |Reduced pension contributions|-£8,562| |Staff Travel|-£3,866| |Minister relocations|£8,001| |Administrator regrading|£2,796| |Connexion and Synod Assessment budget error|£9,928| |Manses Repairs & Maintenance (Synod grant £3,200)|-£8,323| |Council Tax & Insurance|£2,220| |Other|-£2,385| |**Total Expenditure Variance**|**-£3,833**| 19.8% 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 2025, the net current assets of the Circuit were £614,183 giving approximately 22 months’ cover for expenditure. This is an increase of £356,226 mainly due to the sale of a manse and chapel which were no longer required. 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 2025 – 2026** Circuit financial plans for 2025 – 2026 have been prepared based on an on-going, fulltime ordained staff of four, a part-time administrator and cost of living stipend increases. This resulted in a budget of £315,762. Of this, £16,408 was to be funded from prior years’ surpluses held in reserves. Trustees approved a subsidy of £12,666 from reserves in recognition of financial pressures on churches and their congregations resulting from the economic impacts of the war in Ukraine. ## **Basis of preparation and legal framework** The Charity’s annual report and accounts for the year ended 31[st] August 2025 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** : The Methodist Church Gwent Hills and Vales Circuit (2/13) **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 Catherine Brobbey, Rev Stephen Boxall, Rev Lorette Hinson, Rev Andrea Sims Supernumerary Ministers: Rev Stanley Barker, Rev Anthony Gregory, Rev Gareth Hill, Deacon Gwenllian Knighton, Rev Sue Lawler, Rev Roy Watson Minister in Other Appointment: Rev Gareth Powell Authorised Minister: Rev Manu Tu’ipulotu Retail Chaplain: 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; Mr Gareth Holyfield; Mrs Karen Jones; Mrs Siân Millar; Mrs Rachel Rimmer; Mrs Gillian Timm Circuit Administrator & Safeguarding Officer: Ms Joanna Saunders Circuit Treasurer: Mr Ken Bailey functioned as the principal officer overseeing the day-to-day financial management and accounting for the circuit during the year. Independent Examiner: Feakes & Co Ltd, Riverside Court, Beaufort Park, Chepstow NP16 5UH Investment Bankers: Central Finance Board of the Methodist Church (CFB), Trustees for Methodist Church Purposes (TMCP). ## **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. 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 Cymru and is also accountable 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, Ebbw Vale _(St James and Tyllwyn)_ , Fairhill, Glasbury, Hope, Llanelly Hill, Llanyrafon, Nantyglo, Pontllanfraith, Pontnewynydd, Race, Tredegar, Trinity, Upper Cwmbrân, 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 recreation 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. - 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 Methodist Church’s Supervision Policy 2021. Supervision in the Methodist Church is an exploratory and reflective process. Every ordained minister is required to meet oneon-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, 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 March 2025 the Trustees voted to amend the Reserves Policy to the following: 1. To hold a minimum sum equivalent to six months’ budgeted 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. In order to achieve this minimum, at the start of each Quarter (1st September, December, March and June) 9 months’ expenditure should be in reserve, as church assessments are received at the end of each quarter, one quarter in advance and expended during the following quarter. 2. To hold £100,000 against future requirements for remedial work to boundary and internal walling at Varteg Cemetery. (Fund established in September 2020) 3. To make £100,000 available for Church Mission Projects for the period 20212026. (Fund established in September 2021) 4. Any remaining reserves after deduction of restricted funds are available for Circuit projects. **Report approved at Circuit Meeting held on 11[th] June 2026 and signed on behalf of the Trustees by its Chair, Rev Catherine Brobbey.** **SIGNED:** CIRCUIT ACCRUAL ACCOUNTS THE METHODIST CHURCH STANDARD FORM OF ACCOUNTS Gwent Hills & Vales Circuit FOR THE YEAR ENDED 31 AUGUST 2025 Wales S nod District Circuit no 2113 Registsred Charity - Charity R9gislration number 1140255 If not a ￿gIstered charity Her Majesty's Revenue and Customs Glft Aid number (The HMRC number is equivalent to a registered charity number in lems of eviden￿ of charitable status and may be used lo give lo donors or grant funders wishing lo see evidence of the organisalion's charitable 51alus. Methodist charities in England and Wales Ihal are not registered charities a￿ excepted from registration under Slalulory Instrument 2014 No 2421 Ministers.. Rev C B!obb.ey...,...--.-..-.-.._.._.._..........__..._..__..__......_._....._._.__.__ Rev S Boxall RevA Sims Rev L Hinson Circuit Stewards.. J Evans J Jackson K Jones S Millar R Rimmer G Timm M Webber Treasurer". K Baile Pagelo14 a¥ ¢ry u) 'c c ¢ r4 ¢y sri ryi ry fj ¢¥> C* a o r r* ¢P 'c c o uj (YJ o)- *0 omwj 1111 1111 Illl 11 11111 Notes to the Gwent Hills & Vales Circuit Accounts 2024-25 1 Basis of accounting The financial statements have baan pr8pared under the Chanties Act 2011 In accordance wth the 2014 version of Accounting and RerK)rting by ChèTrtie5" Statement of Recommended Practice ISORPI applrable to charities prepanng their accounts in accordancè with FRS102- t￿ charib.es SORP IFRS1021 and taking note ol the Upd8te Bulletin 1 issued in 2016. 2 Funds The funds held constitute. General Funds held for any purpose of the Circuit which are Unreslricled The Circuit Model Trust Fund has wide purposes defined In Standing Oid8r5 and 15 calegorised as unrestricted Restricted fvjnds are money received to be spènt for a defined purpose. Thère Slè no Endowment funds. Details of each material fund are disck)sed In the final note to these accounts Any funds may be represented by MO￿ than iusl cash. 3 Accounting policies la) Basls These accounts have been prèpared on the basis ol historical cost except that investments are shtswn at their rnarket value at the end ol the year, on the accruals basis to show a true and fair view ol the Circuit's fin8ncial position and activities. {bl Incoming Resources Income Is included in the Statement of Finanrial Actiwties ISOFAI when Circuit becomes entst￿d to the ￿sourCes, and thè trustees are reasonably c8rtsin they will re￿1ve the r6sourca, and th8 monetsry value can ba maasur8d with suffiaent reliability. Icl Resources Expended This Is rewnised ¥vhen a 118bility Is Incurred, or B constructive obligation arise5, that results in the payment being unavoidable. Liabilities are ￿cognIsed 85 soon as an ouffiow of economic b8nefit IS Considered more likely than not under thè legal or constructiv8 obligation committing the Circuit to pay out resources. Id) Grants Grants made by the Circuit from its own funds arè iecogai58d in fvll at the tirne of agreement or when the Circuit ac￿pts that there Is a legal or operational Obl￿at￿n to make the payment The following grants were made" Grant to Nantyglo MC for heatsn9 upgrade Grant to Beaufort Hill MC for strengthèning roof beams Total £2,660 £697 £3,357 lel VAT Since the Circurt Is not VAT registered. all input VAT is charged with the expense to wh￿h It rèfars. If) Tangible fixed assets for use by the Circuit Tangible Iixe(l assets are capitalised if they can be used for mole than on8 year and cost at least £500 The freehold property is shown Irl the acwunts al 2025 deemed values, ol which the land component of Manses value is deemed to be £250.OCA) No depreaalion Is provided on the buildings because the trustees con51der the current residual fair value ol the rnanse buildings lon the assumption that Il had r88ched the end of Ils useful economic life by thè y8ar-endl to b8 not less than its current value. Any dep￿CiatIon would not be material The propert¢s have been reviewed for irnpairment rynmawr Manso becamè unused during 2024.25 further to the Cireurt Trustees agreeing relcKation of ministers, the saÈs of Brynmawr and Pontypool manses and purchase of Blaina (minute 5.1 of 07109120231 The balan￿ sheet valuation of £185,000 was therefore reclassified during thè YÈAI fr(Mr -circuit Manses & Equipmeny. to"Invesirnent Propert185" The property was Subsequently sokj. See note 3lgl for further details Pontypool Manse was expected to becorne unused earty in 2025-26 Four Mans•s a￿ held for th8 loTrg-t8rm purpos85 of the charity. Prepa¥ed by-. Ken Bailey, CircLSit Treasurer 28" May 2026 Pagelof6 (gl Investment Properties At the start of the year the Circuit wa5 responsible for 2 empty chapels". Pontypwl and Panteg. They were shown as Investment Properties on the pnor year Balan￿ Sheet During the year Panleg wa5 sold reslising more than the Balan￿ Sheet valuation. Brynmawr man58 became surplus lo reQui￿rnents haviw beèn replaced by the purchase ol Blaina manse in the pnor year 11 w85 reclassified on the balance SI￿et from "Circuit Manses & Equipment. to"Investment Properties, and was subseouently sold realising more than thè Balall￿ Sheet valuation G8rndiffaith chapel became the circuit's ￿spOnSIbl111Y following the ctturc asing to rneet. No ￿pital receipt has been worded as the property has yet to be valua pending resolution of a Land Registry error Pontypool 3nd Garndiffaith were unsold at the end of tt)e yeai. The financial treatment ol the 4 properties Is summarised below.. Balance Survey Sheet or erough Valuali Foward on Capital ft￿lpt SOFA Gainl IL05&1 SOFA row 19 8al8n¢t Sheet c3r￿1 Fowar Eslirnated Expenses E$tmaied CPF Levy Sale PDCE Expenses CPF Levy Ponlywx Pani89 Gar￿11[aith £0 £0 £0 £85.000 £0 £206.250 £X.7 £54,620 É43.847 £0 £0 £0 £0 sU￿T0￿1. £85 000 Brynmawr To￿1 £185.000 £0 £287.250 £13,543 £0 £68 707 £0 £270 000 £0 112S$3 Éo Sub-Total of Investment Propertses value broughl fo￿ard on the Balan￿ Sheet. Pontypool Cha￿1 becafne unused during 2021.22 further to the Circuit Trustees agreeing that the church Trase lo meet Iminute 5.2 ol 17103120221 The Trustees approved the disposal of the propety Iminute 6 1 of 16103120231 The larKJ Is leasehold. It has not yet teen possible to obtain a valuation No Capital R￿lpt has been rècorded to date there Is no value Included in Investment Propertles on the Balan￿ Sheet. Panteg Chapel became unussd during 2021-22. The Circuit Trustees agre￿ that th8 church cease to M￿t, and that the propety be sold (minute 6 2 16103Q0231. The property was sold In June 2025 for £206.250 realising £129.097 net ol levy and expenses This Is a gain of £43.847 against the balan￿ sheet valuation of £85.000 Garndillaith Chapel became unused dunng 2024.25 fvrther lo the Circuit TrLSStees agreeing that the churth cèasè to mèèt and the property be sold (minute 7.3 of 013103120251 Because of an Issue wth the Land Registy r8cord. the property has not yet been valued so no capital gain has been recorded. rynrnawr Manse became unused during 2024-25 fvrther to the Circuit Trustees agreeing r6locab.on of ministers. the sale5 of Brynmawr and Pontypool rnanses and purchase ol Blaina Iminute 5 1 of 07109120231 The balan￿ sheet valuation of £185,000 was therefore reclas51fied during the year from 'Cir¢uil Manse5 & Equiptnenl" to'pnvestmenl Prorerties. The propety was sdd In May 2025 for £267,250 realising £253,707 nei of expens8s No leyy was payable as this manse was ￿plaCed by the purchase of Bl8in8. There was a gain of £68.707 against the balance sheet value of £185,000. Ihl Investments Investments are value(I In thè balar￿£ Sheet al market value al the year ènd Investment income is induded in tre accounts when re￿1¥able and any gains or bsses on ￿ValUation at the yeaF-end are shown in the SOFA. {1) Debtors Debtors comprise. Prepayment of September 2025 stipends in Augu512025". Insurance, utilty. and essential maintenanrs c051s of closed Chapels to be funded from proceeds of sale. Overdue assessment rècèipt5 frorn churches. Total £14.754 £2g.863 £2,182 £46,799 til Credltors Cre(Jitors compiis&." 1st quarter 2025Q6 assessment received fvorn most churches in August 2025. Propety maintenance. Minister and pre8cher expenses clairned after year end" Receipts for others". HMRC Closed chapel and manse utility refunds due. Total £59.352 £3,695 £2,878 £1,141 £542 -£2.752 £64,857 Ik) Income from Investment Properties There was no Income frotn investment propertyes during the year. Prepared by.. Ken Bailey, Circuit Treasurer 28" May 2026 Page2of6 {11 Gainslllossesl on investment properties Panteg chapel was 501d for £206,250 The value of legal and agents. fees was paid into the General Fund with the balance paid Into the Model Trust A levy was taken for the Connexional PFiority Fund in accordance with Standing Orders. Sinc8 closure the CirGuil had spent £13,083 on Insuranc8, ublity, legal and maintenance costs The propety had been valued on the Balan Sheet at £85,QKK). The net gain on sale was therefore £43,847 as dètsiled below shown on the SOFA fow 19 It•m Gentrral Fund Model Trust Sale Price £9.701 £196.550 Legal and agent's fees -£9.701 Connexional Priority Fund Levy Insurance. uts'lily. legal and maintenancè costs 8al8nce sheet valuation Totsl Galn £206.250 -£9.701 -£54.620 -£13,083 -£85,000 £43,847 -£54.620 -£13.083 -£85,000 498,083 £141,930 Brynmawr Manse wa5 501d for £267,250. The sale value less fees wss paid into the Model Trust No levy was taken for thè Connexional Priority Fund as this manse was repla￿d by puich351ng Blain3 manse in March 2024. sin￿ the manse becam6 vacant the Circuit had spent £4,527 on Insurance. ublity. legal and Maintenan￿ costs The property had been valued on the Balance Sheet al £185.000 The net gain on sale was therefore £68.707 as detailed below and shown on the SOFA row 19 Sale Price £267,250 £267,250 Legal and agent's fee5 -£9,017 -£9,017 Connexional Pnority Fund Levy £0 £0 Insuran￿. utility, legal and maintenance costs -£4,527 Balancè sheet valuation -£185,000 Total Gain £68,707 -£4,527 185,000 189,527 £258,234 Im)Donations The following dOn￿On5 were recAved'. From.. Wales Synod Charitable Trust Upper Trosnant B8plisl Church Anynomous M8rchan15 Hill Baptist Church Total For. Grant towards Llanlarnam Manse Improvements MaFkel Chaplaincy Expenses Irestricie£ll Market chap1a￿ncY Expenses Iresiriciedl Martlet chap1a￿ncY Expenses Iiestiictedl £3.200 £600 £200 £50 £4.050 4 Payrnent to Trustees There werè no p8yments made to trustees for addition81 services prowded lo the Circuit by agreement with the Circuit Meeting This excludes stipends. Trustee expenses were.. 2024125 2023124 Number of Trustee5 Total amtsunt 27 £40.758 17 £20,647 Expe￿& payments primarily ￿late tts reirnbur58ment for travel. postage, statyonery and printing costs. S Fe￿ for •xamlnatlon or audit of th? accounts 2024125 2023r24 Independent examirÉr's or auditors, fees lor reporting on the account5 Other fees leg. adwce. accountancy services) paid lo the Indepen(lent examiner or auditor 900 375 NIL NIL Prepared by.. Ken Bailey, Circuit TreaSu￿r 28" May 2026 PaBe3of6 6 Pald employo•s l•xGludlrKJ stlp•ndlary mlnl¥t8r8' CO8t8 of £167.0401 Staff Costs pald durfng th• yoar- Gross wages, salarEs and benefits in kind Employers Nats"onal Insurance costs Pension costs Total staff costs 2024125 2023124 18,467 1,591 15.641 903 1,108 21.165 939 17,483 A¥gr•ge number of lull-tlm• aquival•nt èmployèès in th¢ yèar Iround•d to nearest whole number).. 7 Capital Commltments Contingent Liabilitiès There were no capitsl commitrnents at 3151 August 2025 No Contingent Iiabilitses were identifie(l at 3151 August 2025 8 Money received and pas8od on to Ext•rnal Organlsations 2024QS 410 2.887 2023124 45 3,312 Balance brought foTrward from last yèar OfferingslGifts- received for Exiernal Organisations OfferingslGifts- passed to External Organisalions Balanee tarried forward 1.141 410 Prepared by- Ken Bailey, Circuit Treasurer 28" May 2026 Page4of6 g Tanglbl• FSx•d Ass•ts Cost or valuatlon Payments on account and assets under on8truction Fixture8. fittings and •4uipmènt Inv•stment Properties Land Man$•$ Investments Total B31anr* brou Additions Revaluations osals Transfers ' Balance camsd for¥Ydrd hl foFward 1 576.897 339 85.0(X) 97.637 1.759.873 2,521 2,521 -270.000 -185.000 -85.000 1,391.897 339 100.158 1,492.394 Accumulatsd de Balance brou ht forward De recialion cha e for ear Revaluations Dis osals Transfers. Balance carrièd forward reciation -1.695 -339 -1.695 -339 -2.034 -2,034 Net book valu• Brou ht forward Carried forward 1,576,897 1,391,897 339 85,000 1,759.873 1.492.055 100,158 Manses.. Brynmawr mansé w8S 501d during the year having been replaced by Blaina manse purchased in the prior year. Valuations have been compa￿￿ with online Sour￿$. Average sale values of neighbounng propert*s In 2025 total £1,530,000 demonslraling that £1.391,897 Is a conservative valuation. Other buildings.. Panleg Chapel was sol¢J during the year Th6 arcuit continued to bè rasponsib18 for Gamdiffaith a￿1 Pontywol chapels which rt Is seeking to Sell See not8 3lgl for further detsil 10 Investment assets Panteg Chapel w8s sold during the year. The arcuit continued to be responsible for Gamdiffaith 8nd Pontypool chapels which it is seeking lo sell. See note 319) for lurther detail The arcuit has no cornrnon investment fund holding5 11 Loans At 315t Awust 2025 3 loan of £3.285 to Bla8nau Gwent Methodist Church was outstanding. The loan was ￿sSued on 0411112022 and Is due to be repaid by 0311112027 In accordan￿ with section 11 of the Circuit Funding Policy for Church Proj8(ts. Prepared by.. Ken Bailey, Circuit Treasurer 28, May 2026 PageSof6 12 Analy$l8 of re6trl¢tod and tJe81gn•tsd lund¥ 2024-25 Fund Nam• Opening Balance In¢omir¥J R••ourc•s R￿QuIC•S EX￿nded Transhrs Closing Balanc• Purpose ofthe fund Fund for Youth Wod( Restricted Donations for Market Cha Grant from New Places for New Pe le Total Rèstrict•d Funds vart￿ Re58Fve Desi nated Church Misgon Projects De51 nated Market Cha Totsl Designatod Funds Notes. 271 6.234 Youth work Inote 11 100 850 398 552 Pontypool Market Ch8 lainc Rugby Outreach 7,163 6,004 1.160 13,227 1,121 6,402 7.945 81,071 81,071 Major repairs Varteg Cernete note 2 To 5UPPOrt church projects Inole 31 94,295 3.357 90,939 300 300 Pontyw)ol Market Cha 175.366 300 3,357 172,310 The CFB3 account w83 inhenled from the old Islwyn Circuit and Is a restricied hjnd. Circuit Meeting minute 5 1181 of 1810312021 ￿fer$ Incoming iesources w8re £271 Inteiest. The Trustees rSecide(J to reserve £100,000 against likely ftsture major Maintenan￿ expenditu￿ at Vart8g Cem8tery Circuit Meeting minute 5.1.2 of 1010912020 refers. These fund5 were transferred in 2021-22 Trustees decided to allocate £100,COO to 5UPPOrt church mission projects In accordan￿ wrth the Circuit Strategy 2021-2026 and the 5UPPOrting Funding fr>r Church Proied Policy. Circuit Meeting minutes 2.2 and 2.3 010910912021 refer These fvnds were transferred In 2022-23. Comparativ6 ènalysis of ￿s1￿cted and designatèd fvnds 2023-2024 Fund Nam• Opgnlng Balance Incomlng Rèsourc85 Resourcès Expended Transfers C108ing Balanc• pUr￿e ofthe fvnd Fund for Youth Work Restricted Donation frc Trosnant Ba tistS Grant from New Place5 for New Peo Totsl Restriet•d Funds Varteg Reserve ID8signatedl 8.110 475 2.622 5,963 Youth work (note 11 200 100 100 Pontypool Mathet Ch8 Rugby Outre8ch 10,000 2.837 7.163 ,110 10,675 5,559 13,227 97.828 16.757 81.071 Future rnajor repair5 to Varteg Cemetery note 2 To support church project5 (note 31 Church Mission Proieds Oesi n8ted Total Dosignated Funds 97.750 3.455 94,295 195,578 20,212 175,368 13 Transfers The following transfers tod( pll4￿ from the General Fund to De5¥Jn8ted Fund5. The Circuit Leadership Taam decided to alocate £300 to the work of the Pontypool Chaplaincy Prepared by.. Ken Bailey. Circuit Treasurer 28, May 2026 Page6of6 Declarations and Scrutiny l ecth that th￿e a(xxuats4)ased a(XI￿nts for the year to 31 August 2025 have been prepar& from the recuds of the CiThlt and that they indud8 all funds under the control of the Clrcuft . Nwne ￿ address of treasurer Ken Balley, Pembroke House, Lower Park Terra￿, Pontypool.. Post Code: NP4 8LB ........ year ￿ded 31 August 2025 vM*II . bè ': :. Independent Examln*s Report to the Trustees of the Gwent Hllls & Vales Clrcult Charlty Number 1140255 *P I rw to the In￿ on my examination of the accounts of Hills & Valas Cireuit for the >ear ended 31 August 2025 set out on pages 1 to 4. As the ClrcuÉVs trustees, you are resp￿$1￿0 p.,", for the Fry)aration ofthe accDunts in accordancg wilh the requirements of Chartties Act 2011 A£Y). . 4 r8p(At #i IBspect of my ex￿5natIon of the Ctrculys accounts carried (xrt under $8L*knn 145 of th6 . Art a￿1. ty (zrrylThJ wt my eyaminaltcm. I have followed am Iha appllcalts Dtrths 91￿ by U under sthi 14515Mb) ofthe Ad. . N8meofCircuit." Gw8nt Hills & Vales............................................................ No...2113........ Indèpondent Examinor's Stat8ment The Circuit's gross Income exceeded £250.000 and l am qualified to undertake the examinath)n by being a qualffied member of The Institute of Chartered At￿untants in England and Wales. I hava completed my examination. I confimi that no material matters have come to my attontion in conneclion wtth the examination ( that in, any material respect: which give me cause to believe Ihe accounting records wera nol kept in accordance with seclion 130 of th8 Ac*: or the accounts do rot accord with the accounting records", or the acc¢)unts do rK)t comply with the applicable requirements concerning the fonn and content of accxjunts set out in the Chanties (Accounts and Reports) Regulations 2008 other th8n any requirement that the a￿￿UnIS give a 'true and fairf view, which is not a matter consKlered as part of an indep8ndent examination the tW5tees' annual re￿rt is not consistent with the a(￿Unts I havg no concems and have come across no other matters in Connecti{￿ Mth the examinatlon to which attention should be drawn in this report in order fo enable a proper understanding of the aGr￿Unts to be reached. I h8¥elhave not" obtained independent verification of a51 investments wrf(h the Trustees for Methodist Church Purposes or held in other trusts, bank balan￿ and funds at the Central Finance Board of the Methodist Church which are individually in excess of £10,000 (ten thcmjsand pounds) at the balan￿ sheet date. Signature of ind8p8ndent examlner Nameofindependentexaminer:.........RAYMONDJOHN LEWIN...................................... Relevant professional qualrfication of IndeperKlent examiner: ...CHARTERED ACCOUNTANT. Name offim (whereappropriate): F6akes & Co Ltd......................................................... Address." Riverside CouiL Beaufort Park, Chepstow. Monmoulhshire Post Ccth: NP16 5UH Date: ..