DERBY CIRCUIT OF THE METHOOIST CHURCH Registered Charity No. 1142341 FINANCIAL STATEMENTS ANDANNUALREPORT FOR THE YEAR ENDED 31 AUGUST 2024 DERBY CIRCUITOF THE METHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024 Introdurtlon The Trustees present their report and financial statements lor the year ended 31 Au8U5t 2024. The financial statements have been prepared in accordance with accounting policies set out 11> note I to the accounts and comply with the Charitls trust deed, the Charities Act 2011 and Accountin8 and Reporting by Charities.. Statement of Rettsmmended Practice applic£ble to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Objertlves and Activities The Circuit Meeting in March 2016 adopted Ehe following vision statement-. he people of God •nabled to live out the mlsslon of God" As a mean5 of helping io make th15 visiors a reality, The fjrcult, at the same meeting also adopted five aim5 for the Circuit.. We aim to enable people to... Meet with God and meet with people IWORSHIPI Tell our story IPREACHING/EVANGELISMI Make the most of what we have (SHARING RESOURCE5- prartical and people) Serve our city, locallty and The￿ghbOUrhood ISERVICEI Have confidence in makin8 courageous decision5 The Circuit Meetin8 then agreed to the creation of focus groups which would meetto review the Circuit'5 work in the subject area of each aim. The Circuit Leadership Team drew up specific priorities for the Circuit to achieve out of the leedback received from the focus Broups. The Charity's objective is to act as a Resource provider within the area around Derby for the Methodist Church. The purposes of the Methodist Church are and shall be deemed to have been since the Date of Union the advancement of.. al The Christian faith in accordance with the doctrinal standard5 and discipline of The Methodist Church,. bl Any charitable purpose for the time beinE of any Ctsnnexional. Di5trirt. Circuit. local or Dther organisation of The Methodist Church,. cl Any charitable purpose for the time being of any society or institution subsidiary or ancillary to The Methodist Church.. dl Any purpose for the time being of any charity being a charity subsidiary or ancillary to The MethodSst Church. In support ol these purposes, the Circuit carries out the followln8 activitles-. al The orBani5ation and resourcing of re8ular public acts of worship open to members of the church and non- rnembers alike. DERBY CIRCUIT OF THE METHOOIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024- CONTINUED The teaching of Christianity through sermons, ¢ourse5 and small groups. The resourcing of pastoral work including visiting the sitk and bereaved. Taking reli8ious assemblies In local schools. Promotlon of Christianity through the staging of events and servI￿s. Provision of chaplaincy services to the local university, airport and other institutions. Public 8enèfrt We conlirrn the trustees have had regard to the Charity Commission's guidance on public benefit. Brief financial review otthe year The Circuit made a financial deficit beforegairTrs on investments of 104,12912023.. £7,268). Gains orn investments converted this to a surplus of £116,81912023 gains.. £1.8211. 2024 Annual Report MTrnisterlal staff ¢han es The Rev'd Dr Stuart Bell continued in his role of Superintendent Minister while arrangements were made to ppoint a new Superintendent commencing 1st September 2024. Dr Bell left the role on 3151 August to make way for hi5 successor. In addition. the Rev'd Ja50n Kennedy was commission and licensed as the Enabling Minister of Haven Christian Centre, Heatherton la Local Ecumenical Partnership). Mr Kennedy was recognised a5 an Associate Presbyter during the year by the Methodist Conference. Chan es In Clr¢ult office hol Clr¢ult Stewurds During the year, Peter Nelson and Phil Royle stood down a5 Circuit Stewards while Angela Davies and Aubrey Morris joined the Tearn. As at 31, August 2024, the circuit had five Circuit Stewards. In addition to the two mentioned Alan Castledine Iwho serves as Treasurer). Hilary Handley, and Rev Dr Moira Biggins continued in the role. Cir¢ultluy workers The Circ￿￿t continued to employ the following lay workers Jo Howie Pioneer Missioner based at the Susanna Wesley House ISWHI project Judith Neal Lay Pastor In the Circuit M3iri Radcliffe Lay Pastor in the Circuit Fiona Riley-schnoor Circuit Administrator and Safeguarding Officer In addition. the Rev'd Cath Holliwell. Pioneer Missioner. commenced at the Susanna Wesley House Project, taking the place of h*r predecessor Mairi Nasr. The Mo￿10￿ of the Circuit The Circuit and its churches continued to implement its V15ion of 'Helping churches to Shale in the Mission Plan lor the Circuit, which is that 'God wants all people to live live5 that are whole and fulfilled, This means being in relationship with God and with others, The Circuiys vision Is to help our communities discover this truth. DERBY CIRCUIT OF THE METHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDÉD 31 AUGUST 2024- CONTINUED Circuit Pro'ects Susonnt7 Wesley House f5WHJ SHW has continued its focus on the locality of Ca5tleward. This has included work with refugees and asylum seeker5 living close to SWH. Relationships h3ve been developed. practical help has been given and guests have been signposted to other agencies and charities who might be able to help. Relatlonships with the more static community in the area have continued to develop through, for instance Christmas Carols in the so￿are, and other opportunities for the Comrnunity to gather together. The Pioneer Missioners are active in the Communitv. Ecumenlcal Matter5 While Haven Christlan Centre appointed an Enabling Minister Isee abovel the search for a U￿lted Reformed Church Mlnister to fill the appointment at the Local Ecumenical Partnership based at A5hbourne Road Church continued. This appointrnent is to be linked with additional United Reformed Churches in the area. ReseTres at the end of the year were.. Unrestricted Restricted Endowment £4,070,69512023.. £3.969.0421 £142,77012023.. £137,976) £135.92112023.. £125,679) In¢ome trend5 CifCUIt income is primarily drawn from the assessment paid by the Circuit churches. The rental income relates to the rental of rnanses which are not currently used by Circuit staff. DERBY CIRCUIT OF THE METHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024- CONfiNUED Expèrtditure trends Stipend expenditure has increased each financial year in line with conference approved increases. 20% of expenditure is the Circuit contribution to the District and Conne¥ion, of which a significant part 15 used to fund the work of the wider Methodist Church. Fund balances A5 at 31 Augusi 2024 the unrestricted net current assets of the Circuit (excluding propertie5. investments and Model Trust Fund but including designated fundsl were £82.127. giving approximately 2 months cover for expenditure. Reserve5 Policy The Reserves Policy for the Circuit is to maintain sufficient free reserves equivalent to approximately 3 months, verage expenditure. This should be sufficient to meet any unforeseen item of major expenditure on manses and / or to be abSe to continue. in the short term, funding planned activities in the event of any inability to raise the full Circurt Assessment from churches. Restricted and Endowment Funds represent bequests that have been left to the Circuit over rnany years. Income generated from these funds 15 Used within the Circuit bud8et. fjrant making policy Grants to local churches for property scheme5 and other purposes are accounted for as liabiliiles when thev recÈive formal approval by the Circuit Meetirng or the Ftnance & Grants Committee under delegated authority for award5 of less than £5,000. Grants awarded to other charitable bodies are accounted for as liabilities in the year in which ihe award is rnad&. Investment Polky and Performante To comply with Methodist Standing Order5, monies for long term investment are lodged with the Trustees for Methodist Church Purposes ITMCPI. TMCP acts as custodian trustee for all real estate held by the Circuit and for all large bequest5 and for the proceeds of sale of any property formerly owned by the Circuit. These sums are invested in ￿nIt1$e￿ investments or held on deposit. The investment returns are close to tracking the movements in the FfsEIOO index. The deposit income mirrors the deposit rates available elsewhere. The Derby Circuit tru5tees' investment policy is aligned with that of Central Finance Board ICFBI and TMCP because these organisations take intoconsideration the soctsal, environmental and ethical issue5. both negatively and positively. that make investments suitable for the Methodlst Church. Short term deposits are lodged directly with the CFB and attract good rates of interest. There are no other benchmarks for the expected returns on investments at TMCP and CFB. The objertive for the Circuit is a rate of return at least as good as market rate considering the trustees, low appetite for risk. DERBY CIRCUIT OF THÉ METHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024. CONTINUED Plans for 2024125 Circuii financial plans for the corning year have been prepared on the basis that there will be 5 full time equivalent ordained staff with anticipated cost of living stipend increases combined with an increase in the assessment pa￿d to the dlstrirt Administratlve Informatlon Full Name of Charitv.. tlegistration Charity Nurnber.. Date of registration.. Main communication addre5S'. Charity Contact Address Derby Circuit of the Methodist Church 1142341 9 June 2011 Circuit Office, Susanna Wesley House, 8 Liversage Square. Derby, DEI 2LT 76 Blenheim Drive, Allestree, Derby DE22 2LE The members of the Derby Methodist Circuit meeting are the Charity Trustees, membership being made up of CiTCUlt office holder5, ministers and representatives appointed by the local churches. Full membership is shown below. Ministers Rev Dr Stuart Bell ISuperintendentl- resigned 31.8.24 Rev Traw Harris Isuperintendentl-lrom 1.9.24 Rev Chris Briggs Rev Calvin Cheung Rev Paul D&5borough Rev Neil Draper Rev Colin Emer50n Rev Dr Jacky Quarmby Hospital Chaplain Derby Hospltals Rev Lew Greaves Supernumerary Ministers Rev Ted AgeT Deacon Rosemary Bell Retr Dr Moira Biggins Rev Keith Burchell Idled 6.9.231 Rev Rayrnond lunt Rev David Owen Deacon Pat Moore Deacon Jane Rice rcuit Stewards Pete Nelson Iresigned 31.8.241 Phil Royle (resigned 31.8.241 Hilary Handley Rev Dr Moira Biggin5 Angela Davies Aubrey Morris (from 1.9.241 Paul Jessop (from 1.9.241 DERBY CIRCUIT OF THE METHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024- CONTINUED Administrative Information- ¢ontinued Circuit Church Representatrves Mike Ba8WOrth Brenda Bennett (died 13.11.241 Mary Calladine Chrlstine Carneron Alan Castledine Neil Clarke Ruth Croft Chris Paynter Peter Middlehurst Roy Milward Andrew Moore Mary Murden Lynette Nash judith Neal Donald Olivant Janet Patmore Gwen Petch Wendy Roome Peter Priestley Mairi Radcliffe Fiona Riley-schnoor Linda Sandars Ian Sant Susannah Sirnp50n Ann Smith Eric smith Kelvin Smith judith Smith john Spray Brenda Wlgley Mike Williams Frankie Wong Colin Young Norma Fearn Ray Forey (from 1.9.241 lan FreaTson David Gaskin (resigned 31.8.241 Hilary Handley Theresa Hartwright (from 1.9.241 Doreen Hinds Jenny Kilgour Mairi Nasr (resigned 31.8.241 Marie Holt Guowei Hong Jo Howie Richard Hubball Stephen Lee Brenda Leeds Sally Levitt David MacDonald Graham Martin DERBY CIRCUIT OF THE METHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024- CONTINUED Adminlstrative Information- continued Circuit Mlnlsteys and officers Active Qrcuit Minlsters.. Rev Chits Bilggs Rev Calvin Cheung Rev Neil Draper Rev Colin Emerson Rev David Owen Rev Dr Jackv Quarrnbv Rev Dr Stuart Bell Circuit Lay Employees.. Mrs Jo Howie Mrs Judith Neal Mrs Mairi Radcliffe Ms Mairi Nasr Circuit Stewards MT Pete Nelson Mr Phll Royle Rev Dr Moirè Biggins Mrs Hilary Handley Administrator.. Mrs Fiona Riley-5chnoor Mr Alan Ca5tledine acted as the principal officer overseein8 the day to day financial management and accountin8 for the Circuit during the year. Independent auditor.. TC Group. Registered AudStor 10 Stadiurr Business Court Millennium Wav Pride Park Derbv OE24 8HP Investment Bankers.. Trustees for Methodist Church purposes 8ankers'. Central Finance 8oard of the Methodist Church HSBC Bank plc CAF 8ank Ltd Structure, Governance and Management The governing document for the Circuit is the Deed of Union119321 and Methodist Church Act119761 Detailed 8overnance arran8ements are outlined within the Constitutional Practice and Discipline of the Methodist Church by order of the annual conference ICPDI. Day to day rnanagement of the Circuit is undertaken by the Circuit Leadership Team along with the Local P￿a¢herS meeting, the Circuit Finance and Property Commlttee and the Circuit PolKy Committee. DERBY CIRCUTh OF THE MEtHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024- CONTINUED Appointfflent of Trustees All ministers, presbyteral and diaconal, stationed in the Clrcuit by the Conference or who are residing for the purposes of the stations of the Methodist Church in the Circuit and who are in the active work Ithat Is not tired), are ex-officio member5 gf the Circuit Meeting (the Trustee Body). Other mir)ister5 who reside in the Circuit in accordance with the standing orders of the Church lincludine those who are retired) may ch005e to be members of the Circuit Meeting. and if they do so they are shown in the list of trustees. Each church is rÈpresented by a Church Steward, the Church Treasurer and repfesentatives appointed by the Church Council In relation to the number of Church members lone representative for every SO member51. The Circuit Meetin8 has the power to Co-opt other members includin8 the lay workers in the Circuit. Trustee Tralnlng A range ofguidance produced by Methodist Connexion to support the effective running of the CITCUIt, 5pecificallv the leaflet The Role ol a Trustee in The Methodist Church. is given to all new Circuit Meeting members as induction to their role as trustees. Related Partie5 The CTrcuit is part of the Nottingham & Derby District and is also attountable to the Methodist Conference. The following Methodist Churches are linked to ihe Circuit.. Alvaston, Ashbourne Road, Borrowash, Chinese Congregation. Chellaston, Dean Street. Draycott. Duffield, Findern, Haven, Littleover. Mayfield Road. Mickleover, Newmouni, Oakwood. Sinfin Moor, Spondon, 5t John's and St Martin's. Risk Management The major risks have been identrfied and recorded by the Circuit Finance and Property Committee with professional advice taken as requlred. It has already enhanced its financial procedures and. in cornmon with other churches. has developed robust procedures for safeguarding children. young people and vulnerab5e dults. There is a regular annual review process Undertake￿ and recorded. Income and Expenditure is being rnonitored in total and is compared with the approved annual budget on regular basi5 to detect trends as part of the risk management process to avoid unforeseen calls on reserves. Safe8yardln Every person has a value 3nd dignity which comes directly from the creation of rnale 3nd female in God's own image and likeness. Christians see this potential a5 fulfilled by God's re-creation of us in Chrisr. AmonE Other things this implies a duty to value all people as bearing the irnage of God and therefore to protect them from harm. DERBY CIRCUIT OF THE METH0015T CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024- CONTINUED 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 establishin8 of safe. caring comrnunities which provide a lovin8 environment where there Is iThformed 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 Recruitrnenl principle5. including the use of criminal records disclosures and registration with the relevant vetting and barring schemes. We will respond without delayto every complaint made which suggests that an adult, child oryoung person may have been harmed, cooperating with the police and lotal authority in any investigation. We will seek to work with anyone who has suffered abuse. developing with them an appropriate ministry of Infortned 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, includin8 supervision and referral to the propeT authorities. to any rnember of our church community known to have offended against a child. young person or vulnerable adult. In all these prirn¢iple5 we will follow legislation, guidance and recognised good practice. The Derby Circuit commits itself to ensuring the implernentation of Connexional Safeguardin8 Policy; 80vernment legislation. guidance and safe practice in the Circuit and in the churches. The Derby Circuit commits itself to the provision ol support, advice and trainingfor lay and ordained people that will ensure people are clear and confident about their role5 and responsibilities In safe8uarding and promotin8 the welfare of chlldren and adults who may be vkjlnerable. Statement otTTUStee5' Responsibllltles The Trustees are responsible for preparin8 the Report olthe Trustees and the financial statements in accordance with applicable law and united Kingdom Generally Accepted Accounting Practice. The law applicable to charities in England and Wales. the Charitie5 Act 2011, Charity (Accounts and Reports) Regulations 2(X)8 and the provision of the Trust Deed require the Trustees to prepare financial statements for each financbal year which give a true and fair view of the state of affairs of the Charity and of the incoming resourcE5 and applic8tion ol resources, includin8 the income and èxpenditure of the Charity lor the financial year. In preparing those financial statements, the Trustees 3re required to.. Select sultable accounting policies and apply them consistentlv,. Observe the methods and principles in the appropriate charities SORP: Make judgements and estimates that are reasonable and prudent,. Prepare the financial statements on the going concern basis unless it is Inappropriate to presume thai the Charity will continue in operation., and State whether applicable accouriting standards have been followed, subject to any material departures that must be discltssed and explained in the financial statements. The Trustees are ￿sponsible for maintairning the proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial 5taternents comply with the Charities Act 2011. They are a150 responsible for safeguarding the assets of the tharity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. DEABY CIRCUIT OF THE METHODIST CHURCH ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2024- CONTINUED The trustees are responslble for the rnaintenance and integrity of the charity and financial information included on the charlty's website in accordance with legislation in the United Kingdom 8overning the preparation and dissemination of financial statements. This ￿port has been prepared in accordance with the statement of Recommended Practice.. Accounting and Reporting by Charities. AUDITOR5 A resolutlon will be proposed at the Annual General Meeting that TC Group be Te-appointed as auditors to the charity for the ensuing year. Signed behalf of the charit￿$ trustees Rev Tracey Harris- Superintendent Minisier Date.. io REPORT OF THE INDEPENDE NT AUDITORS TO THE TRUSTEE5 OF DERBY CIRCUIT OF THE METHODIST CHURCH Opinion We have audited the financial statements of Derby Cireuit of the Methodist Church Ithe charity) for the year ended 31 August 2024 on pages fourteen to thirty-two which comprise the Staternent of Financial Activities, the Balance sheet, the Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdorn Accounting Standards. including Financial RepoTtln8 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. Give a true and fair view of the state of the charitvs affairs as at 31 August 2024 and of its incoming Tesources and application of resources for the year then ended.. Have been properly prepared in accordance wsth United Kirkgdom Generally Accepted Accounting Practice,. and Have been prepared in accoidance with Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Standard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independernt of the charity in accordance with the ethical requirements that are relevant to our audlt of the finènclal statements Ir7 the UK. including the FRC'S Ethical Standard, and the provisions available for small entities. and we have fulfilled our other ethical responsibilities in accordance with these requlrements. We believe that the audit evidence we have obtained Is sutticient and appropriate to provide a basis for our opinion. Concluslons relating to going concem We have nothing to report in respect of the following rnatters in relation to which the ISA'S IUKI require us to report to you where.. The trustees use of the going concern basis of accounting in the preparation of the flnanclal statements is not appropriate,. or The trustees have not disc105ed in the flnancial st3tements any identified material uncertainties that may cast significant doubt aboutthe charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve moThth5 from the date when the finanual statements are authorised fDr issue. lowever, because not all fuiure events or conditions can be predicted. thi5 Statement is not a guarantee as to the charity's ability to continue as a eoing concern. It 15 therefore difficult to evaluate all of the potential implications on the charitV'5 finance5 and wider economy. Other information The trustee5 are responsible for the other inforrnation. The other information comprise5 the Snformatio included in the annual report. otherthan the financial statements and our auéitorfs report thereon. Our opinion on the financial statements does not cover the other information and we do not express anv form of assurance conclusion thÈrÈon. In connection with our audit of the financial 5taternents. our responsibility is to read the other information and, in doing so. consider whether the other inforrHation is materially incon51Stent with the fi'nancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. li REPORT OF THE INDEPÉNDENT AUDITORS TO THE TRUSTEES OF DERBY CIRCUIT OF THE METHODIST CHURCH If we identlfy such material Inconsistencles or apparent material misstatements. we a￿ required to determine whether there 15 a material misstaternent in the financial 5tatement5 or a material misstatement of the other Information. If. based on the work we have performed. we conclude that there is a material misstaternent of this other informètlon. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required tv ieport by exception We have nothing to report in respect of the followin8 matter$ 5fi relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, In our opinion.. thè information given in the financial 5tatement5 15 inconsistent in any material respect with the trustee5' report.. or sufficient accounting records have not been kept,. or the financial statements are not In agreement with the accounting records,. or we have not Teceived all the information and explanations we fequire for our audit. Responslbllfjtles of the tru5tee5 As explained more fully in the tru5tee5' responsibilities statement set out on page nine, the trustees are responsible for the preparation of the financial statements and for being satisfied that they gwe a true and fair view, and such internal control as the tru5tee5 determine is necessary to enable the preparation of financial statements that are free from material misstaternent, whether due to fraud or error. In preparing the fi'nancial statements, the trustees are responsible for assessing the charity's ability to continve as a going concern, d15closing, as applicable, matters related to going concern and using the going concern basis of accounting unle55 the trustees either intend to liquidate the charitable company or to cease operation5, or has no realistic alternative but to do so. Auditorfs responslblllties for the audit of the finan¢lal statement5 We have been appointed as auditor under section 144 of the Charites Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financlal statements as a whole are free from mateFial misstatement, whether due to fraud or error, and to issue a Report of the Auditor5 that includes our opinion. Reasonable assurance 15 a high level of assurance. but is not a guarantee thai an audit conducted in accordance with ISA'S IUKI will alway5 detect a material misstatement when it exists. Misstatetnents can arise from fraud or error and are considered Fnaterial if. Individ￿allY or in aggregate, they could reasonably be expected to influence the economic decision5 of u5er5 takeTh on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance wirh laws ènd regulations. We de51gn procedures in line with our responsibilities, Outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are cap3ble of detecting irregularities, including fraud is detailed below,. Revlewing the financial statement dise105ufes and testing to 5YPPOrtin8 documentatSon to asse55 compliance with provision5 of relevant laws and regulatSons described as having a direct effect on the flnancial statements. Specifically reviewing compliance with Charities SORP FRSIO2. Perforrning substantive testing over income, including accounting entries made in respect of any income deferred. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate an increased risk of material misstatement as a result of fraud. Performing substantive testing over a selection of journal entnes made in the period, to address the risk of fraud due to management override of controls. Assessin8 material accounting estimates to determlne if there are inditations of rnanagement bias. 12 REPORT OF THE INDEPENDENT AUDITORS TO THÉ TRUSTEES OF DERBY CIRCUIT OF THE METHODIST CHURCH We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and rernained alert to any indications of fraud or non-compliance with laws and regulations throu8hout the audit. De5Ptte the audit being planned and conducted in accordance with ISA5 IUKI there remain5 an unavoidable risk that material misstatements in the financial statements may not be detected owinE to the inherent limitations of the audit, and that by their very nature, any such Instance5 01 Iraud or irregularity likely involve collusion, forgery, Sntentlonal misrepresentations. or the override of internal controls. A further description of our responsibilitie5 for the audit of the fi'nancial statements Ss located on the Financial Reporting Council's website at www.frt.or auditorsres ies. Thi5 description forms part of our Report of the Auditors. Use of Our Report Thi5 report is made solely to the Charity's trustees, as a body, in accordance Part 4 of the Charities (Accounts and Reportsl Regulations 20D8. Our audit work has been undertaken 50 that we might State to the charity's trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's irustees as a body, for our audit work. for this report, or for the opinions we have formed. fccy TC Group, Statutory Auditor 10 5tèdium Business Court Millennium Way Pride Park Derby OE24 8HP 13 DERBY CIRCUIT OF THE METHODIST CHURCH STATEMENT OF FINANCIAI A￿1VITIEs FOR THE YEAR ENDED 31 AUGUST 2024 Re￿rIthd & Endowmeht F￿lld5 UnrtStrfrtediuTrJJ Qrcu Model Trust Restated fjener41 Desi¢nared Restrkted EndowTnent 2024 Z023 Note IhrOminKReXoUr￿ Incorne fiom Monetary Investments IncoTne Irom InvestmentPiopertie5 Interest received Asses%Tnent$ Churche5 Grants Rece￿ed Other I￿￿￿E 6.990 26,325 1.018 s,[61 3,122 42.517 a2,049 48,220 13,L 61.220 12.401 55.890 22,401 408,$17 40B.517 390.739 5.120 118.629 4.LOS 4.1(6 Incarning li•irlJrc*s 46È,631 48.n7 14,015 S.061 3,122 549.560 2.427 Exppndllur• 16,490 73.699 .189 51,688 sèlarb￿￿nd 33L?46 32,66B 4,7S7 30,185 a36,593 62.853 304.835 49.417 PrDPerty ExpeT CoThnexional L*Yvk5 Support Costs Othèr0ut¥￿n 97.IS2 5.463 15,207 34.423 164.584 6.514 S,463 17.106 io 1.477 155 267 TTrtsl EyPend￿JTe 498.726 109.599 35,Q37 267 $43.E89 $95 IS9 flet Income eefore Inve#rnent I￿lL05S￿lI 130m41 3.122 IIOa.1291 7.268 GainsllLosses1 on m0netèry4nves￿ÈUts IQ2AO 10.240 15,447) GainsIILDS5esl on Fréehofd Properties 93.708 117.000 93.708 117.( N*t kniornlnKI I0￿1n¥>He50V￿Ces PeforeTransleis 180.614 160,8721 121,0791 4.794 13,%Z 116.819 L821 Bptween Furd5 19 #78,502 1411.$461 36.164 rlet Mrwements Funds 559.216 Is.cÉs 4.794 LO.242 116,819 1.821 ReJO 23,319 761 595.159 Net In¢ome Before lThvestmentGalnsllLè55Qs1 58,177 150.2111 18,2601 2,175 S,387 7,16a Gains/llossesl Monerarylnvestments 15.4471 15,4471 GaiTrs/lL055q51 Investmnt ProportiÈs Net In¢omlnillOur8*nKI Re￿UrCeS bEforeTran5fers 58.177 150,2111 18,2601 2,175 L811 Transfers Between Fund5 131.662 15.3881 N•t MDv*rnÈntsln Funds 81,451 21,740 IS,4q81 L821 Re¢on¢illath)nof Funds Total Funds 8rtsJ8ht Fofwafd 3.337.933 436.960 L86.IL7 138.739 4.230.876 Total Funds Carried Forward 5,242.774 518.411 207.857 137.976 12S.6 4,23IE97 31 DERBY CIRCUIT OF THE METHODIST CHURCH NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024- CONTINUED 27. Comparative Sumrnary of Fund Movements Restated alin¢e 4t alA.2023 Balance at 1.9.2022 Imom Exwnthw• TraTrsfors IL055esl 3.337.933 436.960 560,9S6 18,089 S02.779 58.3r 35.163 3.242.774 518.411 Circuitm￿￿ Trjst 96.499 & UndE51￿￿ted 3.774.893 S79,04S 571,075 56,8371 35,163 3.761.185 SU5ènnaWes￿¥ House Man5e5 Rernoval & Relo¢*ion 2.124 134.428 2,124 144.95S 16,473 27,Dr4J 5.164 LSC¥) L5fy1 6,6fj4 142 5,026 23.799 19.249 142 5,353 13.799 19.249 Ll,486 609 281 DuTrkitk roenhill 8ur5ary Ukraine 14,450 2,964 186.117 15.059 23,319 30,CO) 207.857 lotal UWI￿¢t￿a 3.961.OLO $94.lQS 594,39B IZ6,8371 35,163 3.969.042 Bene￿￿nI BofrOw•5h House aueeh'5 Hall 8e4uests 319 91.483 2.938 43.999 319 93.658 2,936 761 43.999 7otilA¢5trlcthd 138.739 2,936 761 137,976 e4UE5ts 131.117 5.387 125,S79 Total Restrf¢ted & Ek)éwmeht 269,866 8.323 761 8.326 IS,4881 263,657 T4t*l of tsjl F￿d5 4.230.876 d.428 S95.159 29,716 4.232.697 28. Prior YearAdjustment- Investment Properties DurinE the year, it was discovered that investment properties had been incorrectly recorded as current assets. rathèr than fi¥ed a55et5 in the compar3tive year. The reclassification has been adioned in this year's accounts and comparative year balances have been restated as below... 8alan¢e Shèet Itern5 Prevlously Reported Adjustment Rèstated 8alance Flxed ￿SetS 1,865,596 1.599.000 3,464.596 Current Assets 2.498.386 11,599,(M)01 899,386 The Statement of Financial Activities lor the comparatwe year remains unaffected. 32