## **ST AUSTELL METHODIST CIRCUIT**
**Registered Charity No. 1141712**
## **Trustees' Annual Report: 1 September 2023 - 31 August 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
**Charity name** St Austell Methodist Circuit **Registered charity number:** 1141712
## **Structure:**
The St Austell Circuit is part of the Cornwall District, and is accountable to the Methodist Conference. The Circuit functions in accordance with the Constitution, Practice and Discipline (CPD) of the Methodist Church, known often as the Connexion.
## **Names of the charity trustees:**
The number of trustees fluctuates during the year depending on changes in office holders in the chapels and Circuit. There was an average of 80 trustees listed on the Charity Commission website during this year. They are appointed by local churches and existing trustees; Ministers are automatically trustees. In accordance with the CPD of the Methodist Church, the Chair was Rev Paul Benney, the Superintendent Minister of the Circuit, who came to the Circuit on 1 September 2021.
## **Names and addresses of advisers:**
Legal – Stephens Scown, Osprey House, Malpas Road, Truro TR1 1UT Financial – Phillips Frith, 9 Tregarne Terrace, St Austell PL25 4DD Independent Examiner – Amy Sole FCA of Phillips Frith LLP Investment Bankers – Trustees for Methodist Church Purposes
Estate Agents – May Whetter & Grose, Bayview House, St Austell Enterprise Park, Treverbyn Road, Carclaze, St Austell PL25 4EJ
## **Description of the charity’s trusts:**
Type of governing document: Deed of Union (1932) and Methodist Church Act (1976)
## **Management:**
Circuit trustees meet four times each year (the Circuit Meeting), and a Circuit Leadership Team (CLT) consisting of the Circuit stewards and staff meets between the trustee meetings. There is also a Property Committee, which oversees the management of property in the Circuit, and is responsible to the CLT and Circuit Meeting. The day to day management of the Circuit is undertaken by the CLT.
## **Circuit Administrator:**
Debbie Eade, 7 Eastbourne Road, St Austell PL25 4SZ
## **Induction/Training:**
A range of guidance is produced by Methodist Connexion and provided as required. The leaflet ‘The Role of a Trustee in The Methodist Church’ has been given to each trustee. All trustees who are required have undertaken Creating Safer Space Foundation Module training, and many have done the Leadership module. This training is ongoing. Many trustees have also undergone DBS checks for work they do within the churches of the Circuit.
1
## **Risks:**
A formal risk assessment for the Circuit has not been undertaken, as the Circuit operates as part of the legal structure of the Methodist Church of Great Britain. Any specific risks are considered by the CLT, who take professional advice as required.
## **Safeguarding:**
Every person has a value and dignity which comes directly from the creation of male and female 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, co-operating 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 St Austell Methodist 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 St Austell Methodist 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.
## **OBJECTIVES AND ACTIVITIES**
## **Summary of the objects of the charity set out in its governing document:**
The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of:
a) The Christian faith in 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 organisation of The Methodist Church;
2
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.
**Summary of the main activities undertaken for the public benefit in relation to these objects** :
- The trustees have had regard to the guidance issued by the Charity Commission on public benefit.
- The Circuit produces a quarterly preaching plan to ensure regular acts of worship take place at each of the 20 Methodist Churches in its geographical area and these are open to all.
- The Circuit is also directly involved with leading worship at the Age UK Day care centre and other venues as invited. These include conducting numerous funeral services at local crematoria as well as at churches, baptisms and weddings.
## **ACHIEVEMENTS AND PERFORMANCE**
- a) Circuit Policy Document – a Circuit mission statement and mission strategy began operating in 2013, and many local churches revised their strategy to bring it into line with that of the Circuit. The strategy has brought a better financial balance to the Circuit, and enabled the appointment, of a number of lay workers – pastoral assistants and a new Children and Families Worker in July 2022.
- b) A review of the Circuit Mission Statement and Strategy was carried out in 2019 onwards which will inform decisions about stationing and staff from 2021. Many meetings and consultations with members of the Circuit have continued to take place and a new Mission Statement and Strategy was agreed at the September 2020 Circuit Meeting and remains in place.
- c) Arising from that strategy some societies have taken the opportunity to combine their services and alternate their Sunday worship. St John’s and Trinity Trewoon formally agreed to join their two societies together in 2021 and, although both church buildings remain open, the society is now known as St John’s with Trinity Trewoon Methodist Church. The same has happened at Gunwen and Stenalees; and Nanpean and Whitemoor
- d) In the calendar years 2021 and 2022 total adult attendances at the main services on Sundays were not measured due to the continuing effects of Covid 19. The Methodist Connexion did not collect statistics for that year. Recent membership statistics have shown a further decline, so work was carried out to prepare for a Vision Day in 2025 aimed at preparing a new way forward for the Circuit
- e) The renovation work to the hall at Bugle commenced in April 2022 and, on completion, the hall will become a huge asset to the community, particularly in the work with young people. This was ongoing at 31[st] August 2023, but was virtually complete by August 2024, when the Youth Club prepared to re-open.
- f) Renovation work at Tywardreath, including the roof, is ongoing.
- g) Churches in the Circuit work with various ecumenical groups such as Churches Together in St Austell, Par, Mevagissey, Roche and St Dennis.
- h) Work with children and young people has increased with the return of holiday clubs, Messy Church, Lego Church and Open the Book.
## **Section E Financial Review**
## ection **E Financial review**
## **FINANCIAL REVIEW**
See “Annual Accounts and Reserves Policy 2023-4” on following pages.
The Circuit Leadership Team has drawn up a set of recommendations, which have been accepted by the Circuit Meeting, to ensure grants made from the Circuit Model Trust Fund are used effectively for mission and capital works. Grants and loans amounting to approximately £28,668 (£106,058 2023) were
3
approved for supporting the staff and churches in the Circuit with property schemes. Also £50,308 was paid to the District and Connexion in the form of assessments and levy (£50,200 last year). The churches of the Circuit hold other trust funds.
## **Brief statement of the charity’s policy on reserves:**
The Reserves Policy for the St Austell Circuit is to hold a sum equivalent to 6 months’ average expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and/or to be able to continue, in the short term, funding planned activities in the event of the closure of a large church or an inability to raise the full Circuit Assessment from churches. As part of our forward planning, expenditure forecasts are prepared looking 2 years ahead. It is necessary to hold sufficient working capital to enable the quarterly payment of stipends and business expenses for 2 ministers and various lay staff, and our contribution to the District. For further details see the following Annual Report and Reserves Policy.
## **Details of any funds materially in deficit:** There are none.
4
## **ANNUAL ACCOUNTS AND RESERVES POLICY 2023-4**
This document includes all funds held by the Circuit Meeting as trustees of the St Austell Methodist Circuit charity, charity number 1141712.
## **1. Aims**
The aim of the Circuit is twofold:
1. To secure the Circuit’s viability and future work
2. To give reassurance to the general public that the Circuit intends to use all of its resources for the purpose of the Charity
## **2. Mission Policy**
The Circuit’s Mission Statement is set out in a document accepted by the Circuit Meeting in March 2019, accompanied by a Circuit Mission Strategy, currently under review. Essentially it provides for:
a] Ministerial oversight and pastoral care of the 20 churches in the Circuit
b] the support of a Ministry team of 2 presbyter Ministers and 5 part-time lay workers
c] the maintenance of 5 Circuit manses
This policy has been modified due to the impact of Covid 19 and change of staff.
## **3. Financial Review**
## **a) Unrestricted income**
The Circuit assessment is reviewed annually and is intended to cover the cost of the policy above; the assessment is based on proportionate church membership and attendance. Total general fund unrestricted incoming resources totalled £232,394 (£211,711 : 2023) and outgoings totalling £241,858 (£231,448 : 2023), with a deficit over the year of £9,464 (£19,737 : 2023).
We normally make provision for our property maintenance programme by designating up to £10,000 per annum.
The Circuit funds (unrestricted general funds) balance at 31 August 2024 was £1,182,783 (£1,187,247 : 2023). Almost all of the balance is the value of the manses.
Under Standing Orders, the Circuit must meet its financial obligations in relation to the support of its Ministers and the maintenance of its manses, the total cost of these obligations last year was £96,106 (£93,904 : 2023).
The independently examined Standard Form of Accounts, the statement of account for the Circuit and the Children’s Work account are available for inspection at the Circuit Meetings and at any other time by appointment.
5
## **b) The Circuit Trust Fund**
The Circuit Trust Fund (CTF - formerly known as the Advance Fund) No. 9941 is the main fund with a balance at the year-end of £181,139 (£201,452 : 2023). The reserve fund (9941A) held £413 (£36,792 : 2023).
This fund derives from the sale of chapels and manses and is restricted by Conference. This restriction is an internal regulation although the fund can be used for a variety of purposes.
The Circuit also holds other trust funds which amounted to £71,745 at the year-end (£102,021 : 2023). The total of all the trust funds was £253,297 (£340,265 : 2023).
The Charity Commission has agreed that it is appropriate for the Trustees to set a policy for the management of the CTF, and this is currently to be held as a general contingency reserve, in lieu of any current large sum commitments.
The reports and reserves policy was agreed by the St Austell Methodist Circuit Trustees meeting on 12 March 2025
_Signed: ………………………………………………………._
Rev Paul Benney, Chair
On behalf of the St Austell Methodist Circuit
6
St Austell Methodist Circuit
Circuit No. 1141712
## **Statement of Financial Activities (SOFA) for the year ended 31 August 2024**
|**Notes**
**Income**
Donations and legacies
Income from monetary investments
Assessments on Churches
Grants received
Capital receipts
4
Other charitable income
5
**Total income**
**Expenditure**
Grants and donations
6
Salaries and associated stipend costs
7
Property maintenance and rental expenses
Connexional assessment and model trust
levy
District assessment and levy
Depreciation
12
Office expenses
Redundant chapel costs
Other outgoings
10
**Total charitable expenditure**
Net income/(expenditure) before investment
gains/losses
Gains/(losses) on monetary investments
Net gains on property disposals
**Net income/(expenditure)**
Reclassification of funds
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**|**General fund**
**(unrestricted)**
**Circuit Model**
**Trust**
**(unrestricted)**
**Restricted**
**Funds**
**Total 2023-24**
£
£
£
£
5,551
-
1,000
6,551
707
13,529
-
14,236
166,822
-
-
166,822
3,100
-
200
3,300
-
112,678
-
112,678
51,214
-
2,137
53,351|
|---|---|
||227,394
126,207
3,337
356,938|
||13,668
15,000
-
28,668
123,735
-
-
123,735
9,730
-
-
9,730
40,236
7,573
-
47,809
10,072
-
-
10,072
226
-
-
226
3,226
-
-
3,226
7,603
-
-
7,603
28,364
873
2,589
31,826|
||236,860
23,446
2,589
262,895|
||(9,466)
102,761
748
94,043
-
346
-
346
45,596
-
-
45,596|
||36,130
103,107
748
139,985
(120,596)
(5,000)
-
(125,596)|
||(84,466)
98,107
748
14,389|
||1,187,247
395,546
1,916
1,584,709
1,102,781
493,653
2,664
1,599,098|
St Austell Methodist Circuit
Circuit No. 1141712
## **Statement of Fiancial Activities (SOFA) for the year ended 31 August 2023**
|**Notes**
**Income**
Donations and legacies
Income from monetary investments
Assessments on Churches
Grants received
Other charitable income
5
**Total income**
**Expenditure**
Grants and donations
6
Salaries and associated stipend costs
7
Property maintenance and rental expenses
Connexional assessment and model trust
levy
District assessment and levy
Depreciation
12
Office expenses
Redundant chapel costs
Other outgoings
10
**Total charitable expenditure**
Net income/(expenditure) before investment
gains/losses
Gains/(losses) on monetary investments
**Net income/(expenditure)**
Reclassification of funds
**Net movement in funds**
Total funds brought forward
**Total funds carried forward**|**General fund**
**(unrestricted)**
**Circuit Model**
**Trust**
**(unrestricted)**
**Restricted**
**Funds**
**Total 2022-23**
£
£
£
£
-
-
1,819
1,819
566
11,268
-
11,834
167,405
-
-
167,405
1,000
-
-
1,000
42,740
-
-
42,740|
|---|---|
||211,711
11,268
1,819
224,798|
||5,350
-
708
6,058
120,584
-
-
120,584
11,530
-
-
11,530
39,292
12,190
-
51,482
10,908
-
-
10,908
76
-
-
76
4,029
-
-
4,029
13,209
-
-
13,209
26,470
1,087
1,116
28,673|
||231,448
13,277
1,824
246,549|
||(19,737)
(2,009)
(5)
(21,751)
-
(198)
-
(198)|
||(19,737)
(2,207)
(5)
(21,949)
25,000
(25,000)
-
-|
||5,263
(27,207)
(5)
(21,949)|
||1,181,984
422,753
1,921
1,606,658
1,187,247
395,546
1,916
1,584,709|
St Austell Methodist Circuit
Circuit No. 1141712
## **Balance sheet as at 31 August 2024**
|**Notes**
**Fixed assets**
Circuit manses and equipment
12
Investments properties
12
Investment
13
**Total fixed assets**
**Current assets**
Debtors
15
Investments with TMCP
13
Central Finance Board Deposits
Cash at bank and in hand
**Total current assets**
**Current liabilities**
Creditors (due in under 1 year)
16
**Total current liabilities**
**Net current assets**
**Net assets**
**Funds of the Circuit**
General Fund (unrestricted)
17
Circuit Model Trust Fund (unrestricted)
17
**Total Unrestricted Funds**
Restricted Funds
18
**Total Funds**|**General fund**
**(unrestricted)**
**Circuit Model**
**Trust**
**(unrestricted)**
**Restricted**
**Funds**
**Total 2024**
**Total 2023**
£
£
£
£
£
1,085,458
250,341
-
1,335,799
1,150,950
-
-
-
-
80,000
-
4,821
-
4,821
38,475|
|---|---|
||1,085,458
255,162
-
1,340,620
1,269,425|
||12,642
-
-
12,642
12,576
-
248,476
-
248,476
301,790
928
-
-
928
4,918
53,403
-
2,664
56,067
49,247|
||66,973
248,476
2,664
318,113
368,531|
||49,650
9,985
-
59,635
53,247|
||49,650
9,985
-
59,635
53,247|
||17,323
238,491
2,664
258,478
315,284|
||1,102,781
493,653
2,664
1,599,098
1,584,709|
||1,102,781
-
-
1,102,781
1,187,247
-
493,653
-
493,653
395,546|
||1,102,781
493,653
-
1,596,434
1,582,793
-
-
2,664
2,664
1,916|
||1,102,781
493,653
2,664
1,599,098
1,584,709|
Approved by the board of trustees on …....... Signed and authorised for issue on the: …....................
…................... Rev Paul Benney
St Austell Methodist Circuit
Circuit No. 1141712
## **Notes to the accounts**
## **1 Basis of accounting**
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) – the Charities SORP (FRS102) and taking note of the Update Bulletin 1 issued in 2016.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for Charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The Circuit meets the definition of a public benefit entity under FRS 102.
The Circuit has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flow.
Based on the monetary assets and human resources available at the year end, the trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. Whilst Covid 19 has continued to have a social impact the Charity remains operational, generating increased income and retaining sufficient funds.
The Circuit has denominational regulatory oversight in respect of the work of the churches within the Circuit but has no legal or operational control of those churches and their governing bodies. For this reason, the financial statements of churches within the Circuit are not consolidated into these statements.
## **2 Funds**
The funds held constitute:
- General Funds held for any purpose of the Circuit which are Unrestricted.
- The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted.
- Restricted funds which are held for a narrower purpose.
## **3 Accounting policies**
## **Basis**
These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. The accruals basis has been used and the trustees present accounts that show a true and fair view of the Circuit’s financial position and activities.
The accounts are expressed in £ Sterling, rounded to the nearest pound.
## **Incoming Resources**
Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability.
In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised. If goods are donated, a value will be shown in the SOFA or notes where the value is considered material.
## **Resources Expended**
This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.
St Austell Methodist Circuit
Circuit No. 1141712
## **Notes to the accounts (continued)**
## **Grants**
Grants made by the Circuit from its own funds are recognised in full at the time of agreement to make a grant without performance conditions or as and when the Circuit accepts that there is a legal or operational obligation to make the payment.
## **VAT**
Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.
## **Tangible fixed assets for use by the Circuit**
Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £1,000.
The freehold property is shown in the accounts at deemed historical cost representing each property’s gross carrying value at 1 September 2015. No depreciation is provided on the building because the trustees consider the current residual fair value of the manse buildings (on the assumption that it had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The property has been reviewed for impairment.
Methodist property improvements represent significant improvements to church properties funded by, but not yet vested to, the Circuit as Managing Trustees. No depreciation is provided on the improvements as the project is not complete at the year end.
Depreciation is provided on fixtures, fittings and equipment at a rate of 25% on the reducing balance method, calculated to write off the cost over their expected economic life.
## **Investment Properties**
From time to time the Circuit may be required to assume responsibility for church premises following closure and cessation of worship. This results in the Circuit becoming Managing Trustees for the property. At that time the property is recognised as an asset at its anticipated net sale price as determined by a professional valuation and after taking into consideration the levy to be charged by the Connexion. Any expenditure on such assets, if held for reinvestment of the proceeds, as the trustees determine, that is likely to enhance sale value is capitalised at the time the expenditure is incurred. The only property reamining for investment pruposes was sold in the year (see note 11 and note 12).
## **Investments**
The Circuit’s investments are in monetary assets classified as basic financial instruments under FRS 102. Investments are valued in the balance sheet at market value at the year end, which are provided by TMCP. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA. All cash balances are shown in cash and short term deposits.
## **Debtors and Prepayments**
Debtors are stated at the amounts owed to the Circuit or prepaid. They mainly include prepaid stipends.
## **Financial Instruments**
The Circuit only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
## **Creditors**
Creditors are initially recognised at settlement amount after any trade discounts. Creditors include both sundry expenses and specifically the 1st quarter assessment received in August for the following financial year.
## **Pensions**
The Circuit operates a defined contribution scheme for the benefit of its employees. Contributions are charged to the Statement of Financial Activities in the period they are payable.
St Austell Methodist Circuit
Circuit No. 1141712
## **4 Capital receipts**
|Sale proceeds (Redundant chapel)
CPF Levy on property sales
CPF Levy refund
**Total**|General
CMTF
Restricted
Total
2023/24
Total
2022/23
£
£
£
£
£
-
125,596
-
125,596
-
-
(26,238)
-
(26,238)
-
-
13,320
-
13,320
-|
|---|---|
||-
112,678
-
112,678
-|
## **5 Other charitable income**
|Letting income
Liturgical fees
Other income
**Total**
**6 Analysis of grant expenditure**
Local Methodist churches
Local support groups
Church Mission Society
Donations
**Total**|General
CMTF
Restricted
Total
2023/24
Total
2022/23
£
£
£
£
£
49,920
-
-
49,920
41,170
1,280
-
-
1,280
1,560
14
-
2,137
2,151
15|
|---|---|
||51,214
-
2,137
53,351
42,745|
||General
CMTF
Restricted
Total
2023/24
Total
2022/23
£
£
£
£
£
4,908
15,000
-
19,908
2,400
-
-
-
-
1,200
1,950
-
-
1,950
750
6,810
-
-
6,810
1,708|
||-
-
-
-
-
13,668
15,000
-
28,668
6,058|
Grants were made to local Methodist churches to help fund the cost of repairs, equipment and training.
## **7 Stipend and salary costs**
|**Staff costs paid during the year were:**
Gross wages, salaries and benefits in kind
Pension costs
Other staff costs
Total staff costs
**Average number of employees in the year were:**
No employees received employee benefits of more than £60,000.
Stipends were paid to 2 (2022/23: 2) Presbyters and amounted to:
**Total stipends and salaries**|2023/24
2022/23
£
£
38,571
42,026
1,813
1,301
90
403|
|---|---|
||40,474
43,730|
||4
6
83,261
76,854|
||123,735
120,584|
St Austell Methodist Circuit
Circuit No. 1141712
## **8 Payments to Trustees**
No (2023: None) payments were made to trustees for additional services provided to the Circuit (manse and property steward, equipment hire, layworker and consultant).
|**Trustee expenses**|||||
|---|---|---|---|---|
||2023/24||2022/23||
|Number of trustees||8||6|
|**Total amount**|£|13,352
|£|12,510
|
Expense payments primarily relate to reimbursement for travel, subsistence, postage, stationery and steward’s expenses.
The ministers (who are trustees) are paid stipends and travel expenses at rates agreed annually by the Methodist Conference. Stipends were paid to two ministers amounting to £83,261 in the year (2023: £76,854 for two ministers). Travel costs paid to the ministers amounted to £9,201 (2023: £7,579). These are also included in the amounts paid to Trustees for expenses above. The Manses are provided by the Circuit and the Circuit maintains the property. With the exception of the let manses, the Circuit is responsible for payment of council tax, utilities, water charges and insurance (included in note 10).
Five (2023: Six) trustees were paid remuneration or have received other benefits from an employment with the charity. These payments have been made under authority of the Charity Commission and can be summarised as follows:
|Trustee
Mrs C Thornton
Mrs D Eade
Mrs K Reynolds
Mrs J Petzing
Mrs L Mitchell
Mrs C Baines
Reason for payment
Layworker
Layworker
Layworker
Layworker
Children's worker
Layworker|Amount
paid
Pension
costs
£
£
-
-
15,362
915
7,687
458
7,393
440
6,145
-
1,984
-
38,571
1,813
2023/24|Amount
paid
Pension
costs
£
£
5,625
-
14,061
837
7,312
436
3,778
28
5,625
-
5,625
-
2022/23|
|---|---|---|
|||42,026
1,301|
The members do not take part in any discussion on the terms and conditions of their employment. The members of the CLT, who consists of the ministers, the layworkers, Circuit administrator and the unpaid Circuit stewards are considered as Key Management Personnel. The remuneration paid to them has been disclosed in note 7 above.
St Austell Methodist Circuit
Circuit No. 1141712
**9 Fees for examination or audit of the accounts**
||2023/24|2022/23|
|---|---|---|
||£|£|
|Independent examiner's or auditors' fees for reporting on the accounts|1,010|950|
|Other fees (eg: advice, accountancy services) paid to the independent examiner|3,550|3,490|
## **10 Other outgoings**
|Travel expenses
Manse insurance and utilities
Quinquennial inspections
Resource Centre
Professional fees
Investment administration charge
Youth club
Other expenses
Total|General
CMTF
Restricted
Total
2023/24
Total
2022/23
_£_
_£_
_£_
_£_
_£_
9,201
-
-
9,201
9,973
5,812
-
-
5,812
5,559
2,473
-
-
2,473
1,882
2,747
-
-
2,747
2,122
4,668
-
-
4,668
4,591
-
873
-
873
1,087
1,659
1,659
-
3,463
-
930
4,393
3,459|
|---|---|
||28,364
873
2,589
31,826
28,673|
## **11 Reclassification of funds**
Circuit property is always carried in the General Fund but upon sale the net proceeds are processed through the Circuit Model Trust Fund. This requires an adjustment and any such sales during the year are reflected at the gross sale price (less selling costs). In the year ended 31st August 2024, the Treviscoe Chapel investment property was sold (see note 12). This was the only investment property remaining.
St Austell Methodist Circuit
Circuit No. 1141712
## **12 Tangible Fixed Assets**
|**Cost or valuation**
Balance brought forward at 1st September 2023
Additions
Disposals
Balance carried forward at 31st August 2024
**Accumulated depreciation**
Balance brought forward at 1st September 2023
Depreciation charge for year
Balance carried forward at 31st August 2024
**Net book value**
Brought forward at 31st August 2023
Carried forward at 31st August 2024|**Freehold**
**Manses**
**Methodist**
**Property**
**Improvements**
**Fixtures,**
**fittings and**
**equipment**
**Total**
**Investment**
**properties**
**£**
**£**
**£**
**£**
**£**
1,102,958
47,766
28,793
**1,179,517**
**80,000**
-
185,075
-
**185,075**
**-**
-
-
-
**-**
**(80,000)**|
|---|---|
||1,102,958
232,841
28,793
**1,364,592**
**-**
-
-
28,567
**28,567**
**-**
-
-
226
**226**
**-**|
||-
-
28,793
**28,793**
**-**
1,102,958
47,766
226
**1,150,950**
**80,000**
1,102,958
232,841
-
**1,335,799**
**-**|
The comparable carrying amount of the freehold manses on an historical cost basis would be £709,363 at the year-end (2023: £709,363).
## **13 Investment assets**
Investment properties, shown in Note 12, are recognised at their anticipated net sale price as determined by a professional valuation and after taking into consideration the levy to be charged by the connexion.
The funds that support the Circuit Model Trust Fund and the Manses Fund are held by TMCP in Trustees Interest Funds on which interest is credited to the accounts each month. These are regarded as medium and long term investments.
TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, though providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.
|**Analysis of investments**
CFB Managed Mixed Fund at 31 August 2024
Trustees Interest Fund at 31 August 2024|2023/24
2022/23
£
£
4,821
38,475|
|---|---|
||248,476
301,790|
St Austell Methodist Circuit
Circuit No. 1141712
## **14 Financial instruments**
|**Carrying amount of financial assets**
Instruments measured at fair value through the SOFA
**Carrying amount of financial liabilities**
Measure at amortised cost
**15 Debtors**
Other debtors
Stipends
**Total**
**16 Creditors**
Trade creditors
Accruals
Deferred income
Money due to Carne Hill (CMT)
**Total**
Deferred income
Balance at 1st September 2023
Deferred in the year
Released in the year
Balance at 31st August 2024|2023/24
2022/23
£
£
253,297
339,030|
|---|---|
||1,889
808|
||2023/24
2022/23
£
£
225
259
12,417
12,317|
||12,642
12,576|
||2023/24
2022/23
£
£
1,889
808
4,560
4,440
43,201
38,014
9,985
9,985|
||59,635
53,247|
||£
38,014
43,201
(38,014)
43,201|
Deferred income comprises of the 1st quarter assessment received in August, which related to the year ended 31st August 2024.
St Austell Methodist Circuit
Circuit No. 1141712
## **17 Analysis of unrestricted funds at 31 August 2024**
**Unrestricted Opening Incoming Resources Gains Closing fund name balance resources expended Transfers (losses) balance Purpose of the fund** General fund 1,187,247 227,394 (236,860) (120,596) 45,596 1,102,781 For use in the furtherance of the general objectives of the Circuit Circuit Model 395,546 126,207 (23,446) (5,000) 346 493,653 As above Trust Fund Totals 1,582,793 353,601 (260,306) (125,596) 45,942 1,596,434
## _**Comparative analysis of unrestricted funds at 31 August 2023**_
**Unrestricted Opening Incoming Resources Gains Closing fund name balance resources expended Transfers (losses) balance Purpose of the fund** General fund 1,181,984 211,711 (231,448) 25,000 - 1,187,247 For use in the furtherance of the general objectives of the Circuit Circuit Model 422,753 11,268 (13,277) (25,000) (198) 395,546 As above Trust Fund Totals 1,604,737 222,979 (244,725) - (198) 1,582,793
St Austell Methodist Circuit
Circuit No. 1141712
## **18 Analysis of restricted funds at 31 August 2024**
|**Restricted fund**|**Opening**|**Incoming**|**Resources**||**Closing**||
|---|---|---|---|---|---|---|
|**name**|**balance**|**resources**|**expended**|**Transfers**|**balance**|**Purpose of the fund**|
|Youth Fund|1,139|-|-|-|1,139|Development and implementation of|
|||||||work with young people in the St|
|||||||Austell Circuit.|
|Childrens Work|770|3,337|(2,589)|-|1,518|Development and implementation of|
|Fund||||||work with children in the St Austell|
|||||||Circuit.|
|LP|3|-|-|-|3|Development and training of local|
|||||||preachers and worship leaders in|
|||||||the St Austell Circuit.|
|Easter Musical|4|-|-|-|4|Donations collected to pay for the|
|Account||||||Easter musical and proceeds|
|||||||donated to Christian Aid.|
|Totals|1,916|3,337|(2,589)|-|2,664||
|**_Comparative analysis of unrestricted funds at 31 August 2023_**|||||||
|**Restricted fund**|**Opening**|**Incoming**|**Resources**||**Closing**||
|**name**|**balance**|**resources**|**expended**|**Transfers**|**balance**|**Purpose of the fund**|
|Youth Fund|1,139|-|-|-|1,139|Development and implementation of|
|||||||work with young people in the St|
|||||||Austell Circuit.|
|Childrens Work|775|1,111|(1,116)|-|770|Development and implementation of|
|Fund||||||work with children in the St Austell|
|||||||Circuit.|
|LP|3|-|-|-|3|Development and training of local|
|||||||preachers and worship leaders in|
|||||||the St Austell Circuit.|
|Easter Musical|4|-|-|-|4|Donations collected to pay for the|
|Account||||||Easter musical and proceeds|
|||||||donated to Christian Aid.|
|Tearfund|-|708|(708)|-|-|Donations collected to provide aid to|
|Earthquake||||||people affected by the Turkey-Syria|
|Appeal||||||earthquakes.|
|Totals|1,921|1,819|(1,824)|-|1,916||
St Austell Methodist Circuit
Circuit No. 1141712
## **19 Capital commitments and contingent liabilities**
At 31 August 2024 there were no capital commitments or contingent liabilities.
## **20 Financial commitments**
At 31 August 2019, the Circuit had agreed to assist in funding a project at a church within the Circuit. As of 31st August 2024 the project was complete except snagging. There are no other financial commitments.
## **21 Operating lease commitments**
At 31 August 2024, the Circuit had outstanding commitments for future minimum lease payments under noncancellable operating leases amounting to £3,595 until June 2028 (2023: £4,554).
The total lease payments included in the expenses were £959 (2023: £923).
## **22 Voluntary contributions**
The Circuit is heavily reliant on volunteers who contribute their skills and time in the furtherance of the work of the Circuit. The principal contribution is by serving on committees of the Circuit that deal with mission, manses, finance, grants and safeguarding. We are grateful to all of them for their help and commitment. No attempt has been made by this Circuit to value the non-monetary contributions to the Circuit in monetary terms.
## **23 Related party transactions**
There were no related party transactions in 2023/24 or in 2022/23.
Name of Circuit … _**St Austell Methodist Circuit**_ ……………………………… No… _**1141712**_ ……..
## **Declarations and Scrutiny**
I confirm that these accruals-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 ……………………………………………………… Date……………………..
Name and address of treasurer ………………………………………………………………………….
…………………………………………………………………………………. Post Code………………
## **Presentation to the Circuit meeting**
I confirm that the annual report and accounts for the year ended 31 August 2024 were presented to the Circuit meeting held on: ……………..
Signature of the Chair of the meeting: …………………………………………………………………… Name of the Chair of the meeting: …………………………………………… Date ……………………