Circuit Accruals Accounts THE METHODIST CHURCH TEMPLATE REPORT AND ACCOUNTS (ACCRUALS BASIS) for the year ended 31 August 2024 The Lizard and Mounts Bay Methodist Circuit Roglstsred Charity - Registration numbor 1144190 Cornwall Circult No 00 11214 Mlnlstsrs Rev D P Reed Rev D Gri¢e Rev R Fu9ill Clrcult Stewards Mrs S Lyne Mrs J Shainberg.--_ Mrs J Hearn Mr$ V Williams Miss N Scoll Circuit Treasurer MT P Combellack Page 1 of 19 The Lizard and Mounts Bay Methodlst Circult Trustee's Annual Report on Finance and Governance Basls of preparatlon and legal framework The Charity's annual report and accounts for the year ended 31 August 2024 have been prepared in accordance with the Charities Act 2011 and the Charities: Statement of Recommended Practice IFRS1021 Full Name of Charity: The Lizard and Mounts Bay Methodist Circuit Registration Charity Number: 1144190 Maln communication address Street, Helston, TR13 8EL The Lizard and Mount's Bay Methodist Circuit office, Coinagehall The members of the Lizard and Mounts Bay Methodist Circuit meeting are the Charity Trustees, membership being made up of circuit office holders, ministers and representatives appointed by the local churches. Clrcult Mlnlsters and offlcers Active Circuit Ministers Rev DP Reed Rev D Grice Rev R Fugill Clrcuit Lay Workers Mrs S Reed Mrs A Combellack Mr R Combellack Mrs T Ha51am Other Workers Mrs D Borrett Mrs T Hosking Miss B Harrington Mrs E Pascoe Circuit Stewards Mrs S Lyne Mrs J Shainberg Mrs V Williams Mrs J Hearn Miss N Scott Mr P Combellack (Treasurer) Independent examiner Pryor, Begent, Fry & Co 97 Meneage Street, Helston, Cornwall TR13 8RE Investment Bankers Central Finance Board of the Methodist Church Trustees for Methodist Church purposes Page2of19 The Lizard and Mounts Bay Methodist Circult Aims and organlsètion Charlty objective is to act as a Resource provlder withln the area around Helston and West Cornwall for the Methodist Church.. The purposes of the Methodist Church are and shall be deemed to have been slnce the Date of Union the advancement of: al The Christian faith in accordance with the doctrSnal standards and dlsclpllne of The Methodist Church; bl Any charitable purpose for the time beln8 of any Connexlonal, District, Circuit. local or other organisation of The Methodlst Church,. cl Any charitable purpose for the tlme beln£ of any soclety or institution subsidiary or ancillary to The Methodist Church,. dl Any purpose for the tlme belng of any charity being a charity subsidiory or ancillary to The Methodist Church The organlsation and resourcing of regular public acts of worshlp open to members of the church and non members alike. The teachlng of Christianity through sermons, courses and small groups. The resourcing of pastoral work Sncluding visltlng the slck and bereaved. Taklng religious a55emblies in local schools. Promotion of Christianity through the staglng of events and servlces. Provision of chaplaincy servSces to the local unlversity and other institutlon5. Publlc Beneflt We conflrm the trustees have had regard to the Charlty Commlsslon's 8uldance on public benefit. Structure, Governance and Management I he governin8 aocument tor the circult Is the L)eeO ot Union IIYJ21 and Methodist Lhurch Act 119761 Detalled governance arrangements are outllned wSthln the Constltutlonal Practlce and Dlsclpllne of the Methodist Church by order of the annual conference ICPDI. Day to day management of the cSrcult Is undertaken by the Clrcult Leadershlp team along with the Local Preachers meetSng, the ClrcuSt Flnance and Property CommSttee and the Circult Policy Committee. Trustee Tralnlng A range of Euidance produced by Methodist Connexion to support the effectSve runnSng of the clrcuit, specifically the leaflet The Role of a Trustee in The Methodlst Church, is 8Sven to all new Clrcuit meeting members as induction to their role as trustees. Related Parties The Circult Is part of the Cornwall Oistrict and is also accountable to the Methodist Conference. The following Methodist Churches are linked to the circult.. 8alwest, Breaney, Central (based at Helstonl, Crowlas, Gold51thney. Leedstown United, Marazion, Mullion, Porthleven, Ruan Minor, St Keverne, The Lizard & Trinity IPorkellis1. Additionally there is a Circuit Prayer chapel based at Degibna, disused chapel at Meneage with adjoinlng communlty buildlng. Cury chapel was sold during the year. Any other specific organisatlons with specific linkage. Page 3 of 19 The Lizard and Mounts Bay Methodist Circult Rlsk Management The major risks have been identified and recorded by the Circuit Finance and Property Commlttee wlth professional advice taken as required. There is a regular annual review process undertaken and recorded. Income and Expenditure is being monitored in total and is compared with the approved annual budget on half yearly basis to detect trends as part of the risk management process to avoid unforeseen calls on reserves. Safeguardlng Every person has J volue (Jnd dignity which comes directlyfrom the creotion of mule andfemale in God's own imoge and likeness. Christians see this potential asfulfilled by God's re-creutlon of us In Chrlst. Among other things thi5 implies u duty to volue allpeople (Js bearing the imuge of God ond therefore to protect themfrom harm. Methodist Connexional practice outlines commltment to the followlng prlnclples.. the care and nurture of, and respectful pastoral minlstry wlth, all chlldren, 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 provlde a lovln8 envlronment where there is Informed vlgilance as to the dangers of abuse. We will carefully select and traln all those with any responslbllity withln the Church, Sn Ilne wlth Safer Recrultment prSnciples, Including the use of crlrnlnal records disclosures and reglstratlon wlth the relevant vettlng and barring schemes. We wlll respond wSthout delay to every complaint made which suggests that an adult, chSld or voung person may have been harmed, cooperating wlth the pollce and local authorlty In anv Investlgatlon. We wlll seek to work with anyone who has Suffered abuse, developlng with them an approprlate mlnlstry of Snformed pastoral care, We w511 seek to challenge any abuse of power, especlally by anyone in a posltlon of trust. We w511 seek to offer pastoral care and support, Includlng supervlslon and referral to the proper authorStles, to any member of our church communlty known to have offended agalnst a chlld, young person or vulnerable adult. In all these prlnclples we w511 follow legislation, guidance and re¢ognlsed good practlce The Llzard and Mounts Bay Methodlst Clrcult commlts itself to ensurlng the Implementatlon of Connexional Safeguarding Policy,. government legislation, guidance and safe practlce In the clrcult and In the churches. The Llzard and Mounts Bay Methodist Circuit commlts itself to the provlslon of support, advlce and tralnlng for lay and ordaSned people that will ensure people are clear and confident about their roles and responslbilitles in safeguarding and promoting the welfore of children and adults who may be vulnerable. Reserves Pollcy The Reserves Pollcy for the Clrcuit is to hold a minimum sum equivalent to six months, average expendlture. Thls should be sufficient to meet any unforeseen item of major expenditure on manses and / or to be able to contlnue, Sn the short term, funding planned activities in the event of any inability to ralse the full CircuSt Assessment from churches. At the balance sheet date, the Charity's "free reserves amounted to 8.2 months worth of expendlture Ilast year 10.2 months) - refer note 25 Page4 of19 . Name of Circult The Lizard and Mounts Bay Methodlst Clr¢ult Circuit No 12114 Statement of Financial Activities (SOFA) for the year ended 31 August 2024 Notes to the accounts General Fund IUnre5trl£tedl Clrcult Model Trust Iunresirlctedl Deslgnated Fund5 lunrestrictedl Endowment Funds Total 2023-24 .fjfyiirl¢t•d Funds Income Donation5 and legacies Income from monetary investments Income from InvestrDent properties Assessments on Churches Capital Recelpts Grant5 received Other charit3ble income Total Income 1,306 10,603 9,690 195,000 1182,7541 2.550 9.929 46,314 15.898 21.880 9,690 195,000 16,8851 2,550 17.788 256,921 10,699 578 175,869 7,859 7,859 186,568 15,592 578 Expendlture Grants and donatlon5 Salarles and assoclated cost5 operty malnienance ieKlonal assessment & model trust levy Istrlct Assessment & Levy Capltal Purchases Offlce expenses Other outgolngs Total charltable expendliure Gainslllosse51 on monetary Investments Gain51llossesl on property (Jlsposalslrev., Net Incomellexptndlturel Transfers between funds Other galns/llossesl Ntt movement In funds Total funds brought foiward Total funds carrled forward 5,599 238,241 32,111 42,983 95,718 io li 128,028 643 42,983 91.979 101,584 27,362 8,$29 4,106 12 13 14 15 3,739 15,911 3,216 2B2,750 1,300 24.802 158,787 58 17,211 30,509 462,372 1,049 75,578 1128,8241 1,918 6,024 573 573 991 14.22B 16 75,578 1160,8581 9,988 27,839 19,9881 1,835 1,364 996 17 150.870 2,573,016 2,422,146 17,851 124,788 142,639 1,835 160,802 161,637 1,364 996 16,396 17,392 128,824 2,880.202 2,751,378 6,564 Pagesof 19 Name of Circuit The Lizard and Mounts 8ay Methodist Circuit Circuit No 12114 Statement of Financial Actlvltles (SOFA) for the year ended 31 August 2023 forming part of previou5 year'5 accounts Notes to the General Fund Iunrestrlrteill Clrcult ModelTrust Iunrestrlttedl Deslgnated Funds lunrestrlttedl T0181 2022-23 Ro¥lrl¢tod Fun Endowment Funds Income Donations and le£acle5 Income from monetary Investments Income from Investment propertles Assessments on Churches Capital Recelpts Grants recelved Othèr tharltable Income Total Income 80 4,989 10,091 142,5(K> 15,6 13.771 15,695 10,091 142,500 10.224 482 4,6(Q 9,419 171,679 8,727 8,727 18,146 204,803 10,224 13,691 482 Expenditure Grants and donatlons Salaries and 3550cl&ted costs Property malntenance ConnexSonèl assessment & Model trust levy Dlstrlct Assessment & Levy C4pltal Purcho5es ONlce expense5 Orher out80Sn85 rotal chBiltable expendlture Galn5111ossesl OD monetary InvestTnents Galn51llossesl on property dlsposalslrev. Net Incomellexpendlturel Tiansfer5 between funds Other 8alnsll1055esl Net movement In lunds Total funds brou8ht forward Total fund5 carrled for%vard 37,490 119,320 117,7251 40,936 14,032 62,156 61,355 61,446 1 106,281 191,231 46.711 40,936 33.625 io li 2.990 12 13 14 15 19,593 16,432 7,799 218,284 2,300 46,675 253,525 18,7 55,8 493,a37 17371 134,756 1154,5151 871 3,861 476 476 17031 17.191 16 134,756 88,ISI 161,4051 1243.3351 19,7831 4,866 62,497 13.5001 16971 17 26,746 2,546,270 2,573,016 1253.118 377,906 124,788 67.363 93.439 160,802 5.200 1706 17.102 16,396 1154,5151 3,034,717 2,B80,202 5.200 Page 6 of 19 The Lizard and Mounts Bay Methodist Circuit Circuit No 12114 Balance Sheet as at 31 August 2024 General Fund Iunrestrlctedl Clrcult Model Trusts Deslinated Fund5 IUnre5tr1rtedl Endowment Funds Totsls 202a124 Tot•l$ 2022123 No*sto the Ac¢ounts Flxed Assets Clituil Man5e5 & Equipment Investment properiies Investments 18 18 1,376,984 839,454 1,376,984 839,454 1.315.169 1,085,691 rotulflxedo55ets 2,Z16,438 2,216,418 Z.4ao.860 CuirentAsse Debtors 19 20 21 22 67.181 67,181 5,073 160.031 46,384 4.773 141,184 Investments wirh TMCP Centfal Finance Board Deposlts Cash ai Bank and In hand Totol current 142,639 108,435 83,91 264,603 146 116 16.521 162,637 261,115 100.435 S93,835 228,24S 124,204 544,791 23 142,639 6,564 17,391 24 65,449 Gran15 payable wi¢hin 2018-19 Totol ¢Ufreht Ilubllitles Netcurrent U55ets 58,B95 ZOS 708 65,449 479.342 142 639 162 637 534 940 rotalossets less CLtrrentllobllltles 2,4Z2.146 14Z.639 162,637 6,564 17.392 2,751,878 2,880,202 Long term Ilabllltles (due aftei more than one year) Gran15 able afier 1018-19 Alet ossets 2.422.146 142.639 162,617 6,564 17,392 2,751,378 2.B80,202 Funds of the Clrcult GeneTal Fund 25 25 2 422 146 2 422,146 2 $73 016 142 639 142 639 25 162,637 162.637 727.422 6,564 17.392 2,751,378 160,802 2 858,60S 5,2C4) 16.396 2,880,202 Totol UnrestrlcteLIF¥nds Restricted Funds Endowment Fund5 25 25 6.504 17,392 17,392 Totol Funds 2,422,146 142,639 162.637 6,564 Appioved bythe board of IFu5tees on.., and s18nod on Ils behalf by.. P Combe ack- Treasurer Page7of 19 The Lizard and Mounts Bay Methodist Circuit Notes to the Accounts Basis of accountlng Accounting standard The financial 5taternents have been prepared In accordance with Accountino ond Reportirjg by Churities.. 5toternent of Recommended Proctice {SORP) appllcable to charltles preparinB their accounts in accordance with the Financlal Reponlng Standard applicable In the UK and Republlc of Ireland IFRS 1021 leffective from l Jènuary 20151- (Charlties SORP IFR510211. 11 Public benefit entity The Lizard and Mounts Bay Methodlst Clrcult meets the delinitlon of a public benefit entity under FRS102. Assets and liabilitles are inltlally recognlsed at hlstorlcal cost or transactlon value unless otherwlse stated In the relevant accounting pollcy notelsl below. lil Basls These account5 have been prepared on the basls of historical cost e¥cept that inve5tment5 and property are Shown at their market value or Insurance cover value at the end of the year. The accruals bas15 has been used and the trusiees present accounts to show a true ènd fair vlew of the Clrcuit'5 flnanclal posltlon and auivllles. Iv Content The flnancial Informatlon presented Is relevant. rellable. comparable and complete. Where estlmates are used these are based on experlence, research and judgement. The accounts ère expressed in £Sterlln8. rounded to the nearesi pound. v FRS102 SORP2015 lapplles to 2016-17 onwardsl These accounts are compllant wlth FRS102 and wlth the FRS102 SORP 2015. The accounts have been prepared In aicordance with appllcable charlty lèw In En8land th15 belon8 the Charlfles Att 2011 and Sl 20081629 Ichafltles Accountln8 and Reportln8 Regu13tlon51 and. pendlng the rnakln8 of replacement ReBulatlDns specSllc to SORP 2015 In accordance wlth reg.914lldl of Sl 20081629, the charity trustee5 have departed from the requlrement ol Re8.815l by followln8 SORP IFR51021 Instead of SORP 2005 to the extent necessary to 8lve a true and falr view In the clrcum5t3nces. vl Golng concern Based on the monetary assets and human resource5 avallable at 31 August 2024, the trustees belleve that the Clrcult Is a 8olnB concern. vll Con5011datlon The Circult ha5 denornlnatlonal re8ulètory overslght In respect of the work of the Churches wiihln the CSrcult but has no legal or operètlonèl control of those Churches and thelr aovernlng bodies except In extreme clrtumstance5. For thls rea50n, the flnanclal statements of Churches wlthln rhe Clrcult are not consolldated Into these flnanclal statemen15. vlll Cashflow The Clrcult ha5 taken advantage of the provlslons In the SORP for charliles applyln8 FRS 102 Update Bulletin I noi to prepare a statement of Cash Flow Ix Fund accountln8 The funds held constitute,. General Funds held lor any purpose of the Clrcult whlch are Unrestrlcted. The Clrcult Model Trust Fund has wlde purposes dellned In Standln8 Orders and Is categorlsed as unrestrlcted. Restricted funds whlch are held Iof a norrower purpose There are also the lollowln8 Endowment funds as Ilsted. Dèta115 of each materlal fund are d15closed In the flnal note io these accounts. Any funds may be represented by more than just cash. x Income Recognltlon Income is brought into account when there Is entltlement ènd the amount15 rellably measurable once It Is more Ilkely than not that the economlc benefit of the Income wlll be forthcomlng. In a£cordance with the Chèrltle5 SORP IFRS1021, the tlme of volunteers Is not recognlsed. If goods are donated, a value wlll be shown In the SOFA or notes where the value Is consl(Jered materlal. xl Expenditure Thls Is reco8nlsed when a liability 15 incurred, or 3 constructive obllgation arise5, where the arnount15 rellably measurable and It Is consldered more Ilkely than not that there will be an outflow of economlc beneflt. xll Grants Grant5 made by the Clrcuit from its own fund5 are recogni5ed in full at the tirne of agreement or when the Circuit accepts that there Is a legal or operational obligation to make the payment. When the grant Is recurrent over more than one ye3r the balance payable in future years is tieated as provlsion for future cofflrnitment5 in the Balance Sheet ègalnst the appropriate fund. the provlslon belng released In future years as instèlments are paid in accordance wlth the originally a8reed terms. xiii VAT Slnce the Circult Is not VAT registered, all input VAT 15 charged with the expenses to wh1ch It refers. Page 8of 19 The Lizard and Mounts Bay Methodist Circuit Notes to the Accounts Basis of accountlng Icontdl xlv Tanllble fixed assets These are capitalised if they can be used lor more than one year, and individualty c05t at least £l,OLK). The freehold property whlch comprlse the clrcvlt manses. are shown in the accounts at thelr Insurènce values. Thls Is consldered a reasonable basis for valuatlon. No depreciation is provided on any buildinBS because the trustees Consider the current residual fair value of the buildings lon the assumptlon that it had reached the end of its useful economlc Ilfe by the year-endl to be not les5 than Its current value. Any depreclètlon would not be materlal. The propertles have been revlewed for Impalrrnent. Investment Properties Investment proertles ère as follows.. Deglbnè Prayer Chapel & Meneage Methodlst Chapel. Deglbna Is shown at Insurance value. Mene38e Methodlst Chapel will be marketed for Sale in the future and has been included at an Indlcative market value from a local Independent estate agents. Chrlstophers. These are consldered reasonable bases for valuoiion. The propertles have been revlewed for Impalrment. Investments Inve5tment5 ale valued In the balance Sheet at market value at the year end. Investment Income Is Included In the accounts when recelvable and anv galns or losses on revaluatlon ar rhe year end are shown In the SOFA. Debtors and Prepayments Debtors relate to the Autumn assessment. whlch Is Involced for payment at the end ol August, September stlpends pèld In advance and councll tax prepald. Credltors Credllor5 relate mostly to trade credltors and assessments ralsed In advance. However thefe Is •n amount of E5,250 reSatlngto a stlpend overpaymeni refund Ihat was recelved twlce. Pen51ons The Clr¢ult operates a deflned contrlbuiion scheme for the beneflt of115 employee5. Contrlbutlon5 are char8ed to the 5tatemeni of Flnanclal Actlvltles In the perlod they are payable. Page9of19 The Llzard and Movnts Bay Methodlst Clrcult 2. Donatlons and legacles Unre5trlcted Clr¢ult Modèl Deslgnated Funds Trust Fund lunreslrlcledl 2024 Total 2023 Total estrlct¥d Fun Endi)wment Donations Legacies Total 1,306 J5, 16,898 13.771 1,306 16,898 13.771 Clrcult Model Desl8nated Funds Trust Fund lunrestrlctedl 2024 Total 2023 Total 3. Income from monetary Investments Unrestrittèd estrlcted Fun Endowment Central Finance Board TMCP To¢al 10,603 10,603 11,277 21.880 4,989 10,706 15.695 10.699 10,699 578 S78 10.603 ClrcuSt Model Desl8nated Funds Trust Fund lunre5trlctedl 2024 Total 2023 Total 4. Income from Investment propertles Unrestrlcted endowment Lettln8s (Chy Bron Man5el Cury Income gs IMenea8el 6.(KlO 406 2.215 1.470 10,091 2,270 7,420 9.690 2,270 7.420 9,690 Total Clrcult Model DeslBnated Funds Trust Fund lunrestrlctedl 20Z4 Toial 2023 Total 5, Assessmant$ on Churches Unrestrlcled let•d Endowmént Bahvesl Malhodlsl Chapel Bre8noy Melhodisl Chapel Canlial Melhodijl Church Crowlas Melhodisl Chapel Goldsithney Melhodisl Chapel L8ed&town Melhodisl Chapel M8r8zion Melhodisl Church Mullion Methodist Chapel Porthleven Melhodist Church Ruan Minor Methodist Church The Lizard Melhodlsl Chapel Trinity Melhodisl Chapel Unlled Methodist Church Sl Kev•mè 5,283 14,892 53,555 6,747 8,704 10,588 17,253 14,755 29,975 7,248 8,838 8,407 10,955 5.283 14.892 53.555 6.747 8.704 10.588 17.253 14.755 29.975 7.248 6.838 8.407 10.955 3.989 11.197 37.686 5.159 8.889 8.021 13.190 11.318 20.438 4.942 5.162 6,485 8,244 Total 195,000 195,000 142,$00 Clr¢ult Model Deslgnated Fund5 Trust Fund lunre5trlctedl 2024 Total 2023 Tolal 6. Capltal recelpts Urtrtstrlcted estrlcted Fund Endowment Cury chapel CPF levy returned on previous sales CPF levy on property sale5 Total 1182,7541 175,869 16,8851 1182,7541 I75￿69 16,8851 Note- 8ross proceeds are paid into the TMCP account. The brou8ht forward asset values are removed from the 8eneral unrestricted fund column to ensure the accounts balance Page 10of19 The Llzard and Mounts Bay Methodlst Clrcuit Unrestrlrted Clrcult Model Trust Fund Designated Fund5 lunrestrlctedl Éstrlctèd Fu Endowment 2024 Total 2023 Total 7. Grants recelved Cornwall District 2,550 2.550 4,600 Total 2,550 2,550 4,600 Ourln8 the year the Circuit received PPPP as a travel subsidy Unrestrlded Clrcult Model Trust Fund Des18nated Funds lunrestrlctedl Endowment 2024 Total 2023 Total 8. Other Charltable Income estrlcted Fu Photocopying Meneage Chapel funds Introduced other Total 572 572 1,501 9.357 9,929 7,859 7.859 17,216 17,788 16.645 18,146 Unrestrlcted Clrcult Model Trust Fund Oeslgnoted Funds lunrestrl¢tedl Endowment 2024 Total 2023 Total 9. Grants and donatlons pald estrlrted Fu Methodlst charltles Trewennack Includln8 backclalm prevlous years reallocation ol above Non-methodlst charltles Total 443 20.034 50.000 30,040 6.207 106,181 5,156 5,599 10. Salayles and a5s0¢1ated c05tS Unrestrlded Clrcult Model Trust Fund De51gnoted Fund5 lunrestrlctedl Endowment 2024 Total 2023 Total 95trlc*d Fu Mlnisters, Stlpends Mlnisters, NIC Mlniste¢s' Superannuatlon Mlnisteis, Travellln8 Removal costs Mlssion Enabler Salary Clrcult Admlnistiator Salary Clèrical Support Worker Salary Youth Worker's Salary Children & Familles Worker Salary Apprenticeship Levv Third A8e Worker Salary Employer5 NIC Employer'5 Pensio CAP Worker Salary CAP Community Co-ordinator salary Other Travel e.g. Vlsitlng Minlsters 90,606 8,738 23,435 10,683 90,606 8,738 23,435 10,683 84,005 8,009 21,731 11,443 16,34S 16,224 10,816 12,984 10,290 985 8,178 5,967 16,34S 16,224 10,816 12,984 10,290 1,002 8,178 5,967 3,178 10,380 9,415 22,984 15,2561 11,311 12,408 794 17 5,213 3,178 13,3731 10,380 9,415 13,333 128.028 101.584 238,241 191.231 No employees received employee benefits of more than É60,000. There is no accrual for holiday pay as it is immaterial; the holidav Year ends on 31 Au8USt. All staff are paid at or above the living wage. Page11 ot19 The Lizard and Mounts Bay Methodlstclrcult Unrestrlcted Clrcult Model Trust Fund Ertdowment Oesl8nated Funds lunrestrfctedl 2024 Totsl 2023 Total 11 Property malntenance strfrt¢d Fund Prernises In5urance-Helston Premises Insvranctrmulllon Premlses Insurant&PrJa Sands Busine55 Insuiance Repairs and Renewals-Helston Repalrs and Renewals-mullion Repairs and Renewals-Praa Sands Repairs and Renewals- other Qulnouennl81 Reports Townsend Cernetery Costs Burh05 Chapel costs Chynhale Chapel costs De8lbn8 Chapel costs Mene3ge Chapel cests Kenneggy Chapel Costs Cury Ch3pel Expense5 Crelly Cemetery 340 171 191 438 711 360 402 1.051 531 593 438 1,590 374 ,364 2,789 679 343 237 292 16,191 2.592 3,081 3,974 1.590 670 ,364 2.789 12961 2,349 1.665 6,347 2,349 1,589 6.149 3.609 1,943 2,317 1,327 6,408 2,695 5,453 1761 3,609 ioi 1,842 273 245 497 32,111 827 295 46.711 497 4,106 643 27,362 12 Dlstil¢t As$tssm¢nt & Le Unre5trfcted Clreult Model Trust Fund Desl8nated Funds 2024 Total 2023 Total Endowment Dlstrlct Assessrnent Dlstrlct Lèvv CPF Lewy 14,733 14,733 3,739 77,246 95,718 14.032 19,593 3,739 77,246 91,979 3,739 33.625 In the prewlou5 year the Clrcult recelved a refund of CPF levles deducled on prevlou5 property sale5 è5 follows.. Boslan Garden5, Pofthleven1£12,2921, Manse at Parc Ledden, Helston1£58,3921 These levle5 could be reclalmed a5 part of the flnanclng of the new manse at Praa Sands, Clrcult Model Trust Fund Do518natsd Fund5 lunrestrfctedl 2024 Total 13 Capltal Purcha$es Unr•$trl¢tod Endowment 2023 T¢t•l un Purchase of Praa Sands Manse Le8al Fees *.%J*k,:4j.. Clr¢ult Nlodèl D•$linatsd Funds Trust Fund lunrestrlctedl 2024 Total 2023 Total 14 Offlce expenses Llnrestrl¢ted e5trfcted Fund5 Endowment 4t OfFlce Rent Circult Offlce Rent-prlor year Conference Minute5, CPD'5, Dlarles, Publlcatlons etc P051a8e and Carrlage Office Statlonery Mln15ters Resources, Statlonefy & Posta8e Telephone-clrcult Office Telephone-Helston Telephone-mulliori Telephone- Maiazlon Telephone-chy Bron Website Computer & Software Payroll Admin Chèr8e Photocopier-circuit Office 1.2LX) 1.200 1,200 11001 898 1,255 1,388 4,655 743 741 750 898 1.255 1.388 4,655 743 741 750 673 930 1,762 2,989 647 642 661 362 362 358 884 3,049 480 4,457 2,760 528 1,931 2.760 528 1,931 15,911 1,3LN) 17,211 IB,732 Pag812of19 The Llzard and Mounts Bay Methodist fjrcuit Unrestrlcted Clrcult Model Trust Fund Deslgnated Funds lunrestrlrtedl strfcted Fund Endowment 2024 Total 2023 Total IS. Other outgolngs Travel expenses etc. Lay Wtsrkers Lay workers expenses Lay workers expenses-last year CAP expenses Manse rates Manse water rates Manse water rates-prior year Mènse electric UMC St Keverne c05t5 Ordination event Independent examlner fee Youth Events Other Total 1.192 14 11,0711 7.414 4,163 1,071 4,045 6,577 8,606 4,177 S,662 5.099 4,045 6,577 867 4,426 3,564 3,821 13101 45 310 45 25,426 45S 455 380 2,891 3.216 355 24,802 1.918 1,918 573 573 5,737 30,509 7,443 55,8ZI 16. Galnslllosse51 on property d15POs01slrevaluatlon5 Unrestrlcted Clrcult Modal Trust Fund Deslgnated Funds lunrestrlrtedl strlct•d Fund Endowment 2024 Total 2023 Total Assets brou voluotlon Meneage Chapel Bulldlngs Pro rchos Praa Sand5 Manse Pro ert revolutrtlorts Cury Methodlst Chapel De8ibna Prayer Chapel Helston Manse Mulllon Manse Praa Sands Manse htln 10.000 99.678 93,822 56,654 112S,3981 13,763 28,506 17,213 16,096 13,763 28,506 17,213 16,096 75,578 75,578 134,756 Desl8nated Funds lunrestrlctedl Unrestflcted Clr¢ult Model Trust Fund Str ¢te Fun Endowmont Z024 Total 20Z3 Total 17. Transfers between funds Investment Income on TMCP funds Contractual staff comrnitments Ireler note Homeless Pods re3lltscation 9,988 19,9881 9,988 19,9881 Pag8 13of 19 The Llzard and Mounts Bay Methodist Circuit 18 Circuit Manses and equipment & investment properties The Circuit has 3 manse5, Sltuated in Helston, Praa Sands and Mullion and are included in the financial statements at their insured value as is the prayer chapel at Degibna. The Trustees consider this to be a fair and reasonable basis for value. Cury and Meneage chapels were valued by Christophers Estate Agents, independent agents for sale purposes, and the Trustees consider thi5 carrying value to be fair. Cost or valuation Payments on account and assets under constructlon Fixtures, fitllngs and equlpment Resldential Land Manses Other bulldlngs Total Balance brought forward Addition5 1,315,169 1,085,691 2,400,860 RevaluatSons l+l-I Disposals l_l Transfers ' l+/.) ance carrled forward Accumulated depreclatlon 61,815 13,763 1260,0001 75.578 1260,0001 1,376,984 839,454 2,216,438 •*Basls ** Rate SL SL SL Balance brought forward Depreciation charge for year l-l Revaluations l+l-I Disposa151_1 Transfers. l+/.) Balance carrled forward Net book value Brought forward Cariied forward 1,315,169 1,376,984 1,085,691 839,454 2,400,860 2,216,438 An Hyreth-Helston Manse 90 Laflouder Fields-mulllon Manse Chy Bron-Praa Sand5 Manse ry Chapel egibna Prayer Chapel Menea8e Chapel & Sunday School 634,991 383,437 358,556 634.991 383,437 358,556 564,454 275,000 839,454 564,454 275,000 2,216.438 1,376,984 Page 14of 19 The Llzard and Mounts Bay Methodlst Clrcult 19 Debtors and prepayments Unre5trlrted Clr¢ull Mod*l Trust Fund De518nated Funds lunre5trlctedl 20Z4 Total 2023 Total W¢ritted Fu Endowment Debtors Church A5se5sment5 & other trade other Debtor5 51.240 loo 51,240 100 30,883 100 Prepayments stipend5, Pension, Nl Oth￿ Piepayments 10,357 5.484 67,181 10,357 5,484 67,181 10,176 5,225 46,384 20 Loons by the Clrcult Unrestrltied Clrcult Model Trust Fund Deslgnated Funds lunresirlrtedl cte Endowment 2024 Total 2023 Total Loanto Leedstown Chapel Circuit Muslcal 4,573 500 5,073 4,573 500 5,073 4,773 4,773 Clrtult Model Trust Fund 21 Inve5tment5 wllh TMCP Unrestrlcted Deslgnated Funds lunrest¥lttedl 2024 Total 2023 Total Endowment TMCP-Clrcult Model Tlusi Fund CFB Managed Mlxed Fund 813 141.826 813 141,826 754 124.034 () TMCP- End04Ymenillim•$ ￿¥) 300 300 295 TMCP- EndowmenrlEM Filulnsl CFB Managed Mlxed Fund 11,971 2,300 2,821 11,971 2,300 2,821 11,112 2,300 2,689 CFB Mngd Flxed Interest Fund Tiust Income Balance 142,639 17,392 160,031 141.184 22 C•nti•l Flth•nc• Boird Deposlts Unr•strf¢¢ed Clr