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← Macclesfield Methodist Circuit

2024-08-31-accounts

Macclesfield Methodist Circuit

Annual Report and Financial Statements for the year ended 31 August 2024

Charity Registration Number 1145485

MINISTER Rev Dr Graham Edwards
TRUSTEES See main body of the report
CIRCUIT STEWARDS Mrs Ruth Linde
Mrs Barbara Ogle
Mr Alex Price
CIRCUIT TREASURER Mrs Jane Walker
ADDRESS c/o Langley Methodist Church
Main Road
Langley
Macclesfield SK11 0BU
BANKERS Barclays Bank
INVESTMENT MANAGERS Central Finance Board
TMCP
INDEPENDENT EXAMINER Peter Smith BA FCA DChA
Peter Smith Accountancy Services
9 Polruan Road
Chorlton Cum Hardy
Manchester
M21 9NR

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Macclesfield Methodist Circuit

CONTENTS

Trustees’ Report 2 – 13
Independent Examiner’s Report 14
Statement of Financial Activities 15 - 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Financial Statements 19 – 27

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Macclesfield Methodist Circuit

TRUSTEES REPORT

INTRODUCTION

The trustees present the annual report together with the financial statements of the charity for the year ended 31 August 2024.

The Circuit consists of six active churches of varying sizes and locations within East Cheshire from Gawsworth in the south to Poynton in the north. The circuit also has two graveyards at Over Alderley and Rainow and is dealing with the closed churches at Walker Barn and Green Close.

REPORTING FRAMEWORK

The financial statements comply with the Charities Act 2011, and 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), referred to as the Charities SORP (FRS 102) (second edition – October 2019).

OBJECTIVES AND ACTIVITIES

Charitable Objectives

The Circuit shares the charitable objectives of the Methodist Church, which are set out as follows: “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 the 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;

(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.”

Circuit Mission Statement

Our mission statement is as follows…

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Macclesfield Methodist Circuit

CIRCUIT MISSION STATEMENT

We seek to find and fulfil our place in the mission of God to the world.

The role of the Circuit is to develop approaches to staffing and the use of the resources in supporting the churches as we live out our calling.

The mission of Macclesfield Methodist Circuit is to seek to order our life so that we engage fully with the Five Marks of Mission in everything we do. The circuit will give attention to these marks as it considers the complex issues of staffing, grant making and overseeing Circuit initiatives.

1 Tell. To Proclaim the Good News of the Kingdom

How?

2. Teach. To teach, baptise and nurture believers

How?

3. Tend. To respond to Human need by loving service

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Macclesfield Methodist Circuit

How?

Our priorities

How?

How?

Contribution of Volunteers

The Circuit is heavily dependent upon, and extremely grateful for, the contribution of volunteers as it seeks to carry out its objectives. With the exception of the stipendiary Minister, Children & Families Coordinator and Circuit Administrator, all members of the Circuit Leadership Team and all other Charity trustees are unpaid volunteers.

ACHIEVEMENT & PERFOMANCE

The year has seen a period of readjustment, having reduced ministerial complement from three to two. Over the year, the circuit was led by Superintendent Rev Dr Graham Edwards as minister for Gawsworth, Langley and Macclesfield churches, supported by Rev Ros Watson as minister for Broken Cross, Poynton and Prestbury.

In addition to his Macclesfield churches, due to a shortage of ministers across the district, Graham has been assisting the Stretford & Urmston circuit, an arrangement which began in October 2023. The duties finished at the end of the financial year and Stretford & Urmston have been contributing towards ministerial costs during this period.

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Macclesfield Methodist Circuit

We are fortunate within the circuit to have two Supernumerary ministers in Frank & Sheila Bishop and they have been a constant source of help and support for our ministerial team. We thank them both for the contribution they make to the life of the circuit. This has been a special year for Frank in particular, with the circuit recognising Frank’s 60 years as an ordained minister at a circuit service in July.

With the reduction in ministerial numbers, the circuit was left with a vacant manse. It was agreed by the circuit trustees that as the property would not be occupied by a minister, it should be let on the open market. The property had been occupied continually since 2013 and required significant refurbishment to be brought up to letting standard. Whilst some funds had been built into the circuit budget for this purpose, it was soon clear this would be insufficient and additional funds would be required. The circuit drew on funds from its circuit Model Trust fund in order to complete the necessary work. Once all work was completed however, such is the demand for rental property in the area, it was let quickly and has been producing a steady income stream since February 2024. This project has been a time consuming process for the Circuit Stewards and we are grateful for their assistance in managing this through.

The circuit trustees are also tasked with caring for the chapels at Walker Barn and Green Close with a view to disposal of the properties once the necessary approvals have been given. We remain extremely grateful to those who continue helping with management of the buildings and finances in this interim period.

The Methodist Conference of 2021 directed that certain groups of people are now required to undertake Equality Diversity and Inclusion Training. In November, the Circuit ran a training event which was open to everyone within the church family, in addition to those for who training is compulsory. The event was well attended.

At church level, we have been fortunate that once again all our churches have been able to meet their assessment commitments. We remain extremely grateful to our church treasurers for the hard work they do in managing their church finances and we support them as required.

Fundraising has now returned fully post covid and this gives opportunity for social events whilst raising much needed funds to rebuild reserves and also supporting a range of other charities. Macclesfield church have needed a new boiler which necessitated a planned fundraising schedule and all the required funds have now been raised. The church was also supported with a Circuit Grant of £10,000 which was approved by the trustees. Grants from external sources were also obtained.

Our many weekday groups and events have continued apace with initiatives reaching out to those in need. The dementia café at Prestbury has stopped as it was not generally well supported but the Broken Cross one is doing well. Across all the churches coffee mornings in particular remain a popular outreach activity, touching those who perhaps would not otherwise come into church.

Our buildings continue to be used by external community groups and our church treasurers continually look for ways in which to grow in this competitive area. Our churches continue to offer excellent letting facilities for groups at reasonable rates of rental and we are keen for them to be used as a community resource.

Our ‘Women’s Wellbeing’ events continue to be popular and our toddler groups continue to reach an increasing number of children and their families on a regular basis with this valuable work. For families who have children year 6 and above, we offer our Circuit Youth group, a small community of young people who meet (usually monthly) for games, snacks and fun. This offers somewhere for those who have been involved with our family church to move onto as they grow and over the year we have also shared with other ecumenical groups in events aimed at this age group.

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Macclesfield Methodist Circuit

Our work with Children and Families – ‘Methodist Families Together’ continues to be a particular focus for the circuit. Our Coordinator, Angela has run many events of the year such as monthly Messys, Chippy Church, Breakfast Church and Holiday Clubs whilst continuing work with local schools. We are so grateful to our dedicated group of volunteers from across all our churches who support this work and without whose help it could not continue.

The Circuit believes we are fulfilling a need within the community in providing this essential outreach to children and families within the area and has allocated resources from reserves accordingly. Each year, the circuit asks individual churches to contribute financially to this work in order to help fund equipment and supplies. We are very grateful for this financial support from our churches.

New Places for New People is a key component of the national Methodist Church’s God for All strategy. Over the next few years, each district across the connexion will be challenged to start several new faith communities. Caleb is the name chosen for the Manchester & Stockport District’s response to this national church strategy. As this initiative develops, a special emphasis will be given to supporting churches on the social and economic margins of society.

About 12 – 18 months ago, Methodist Families Together started looking into the possibilities of becoming a Caleb Community. After various meetings and training on ‘how to start a new community’, it was decided MFT would apply to become a Caleb Community.

We are pleased to announce that we were accepted as a Caleb Community in August just before the merger of the Manchester and Stockport District into the new North West England District (‘NWED’). The initiative will continue under NWED. MFT will receive a grant over the next 5 years, and we will be assigned a Caleb Community Coach, who will support us on this new journey.

Having allocated existing reserves towards our work with Children and Families, the circuit will once again be reviewing its reserves policy as part of our ongoing financial management.

Financial accounts for the circuit have been prepared on an Accruals basis in line with the previous year.

Income trends

Total income fell in 2023/24 when compared to 2022/23. Despite a reduction in income from assessments of over £30,000, reflecting the reduction in ministerial complement, increased income from investment properties and monetary investments meant total income fell just over £14,000 for the year.

Circuit income is primarily drawn from the assessment paid by the circuit churches. Once again, it is hoped that our remaining churches will continue to meet their assessment contributions for the 2024/2025 financial year and we are not aware of any financial difficulties. In 2023/24 the level of assessments was adjusted to reflect the decrease in ministers from three to two and recognise the contribution of the rented properties although this latter element is always uncertain due to the risk of tenants leaving/defaulting. From a risk management point of view, a cautious approach is used when preparing the circuit budget.

Income from monetary investments increased due to the market environment of higher interest rates. With the agreement of the Circuit Meeting, the rental of the vacant manse commenced part way through the financial year. Our other investment property (former manse) has been continually occupied during the year, the property is let to a family in housing need and they may be rehoused by the Local Authority at any time, subject to the circuit being given one month’s notice.

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Macclesfield Methodist Circuit

Additionally, as Graham has been spending part of his time assisting the Stretford & Urmston circuit, we have been pleased to receive a proportionate contribution towards stipend and other costs from them.

Progress on the disposal of Walker Barn and Green Close has been slow with the need to focus on Moss Brow and its associated work taking priority. The Circuit is proposing to dispose of both chapel sites through sale on the open market. It is intended to focus on these properties during 2024/2025 but timing of completion of this process is uncertain.

Falling member numbers, lack of volunteers and the effect of loss of rental income are the major risk factors to our churches. This may impact on their ability to meet their circuit assessment. We ask our churches to let us know immediately if they have concerns about meeting their commitments.

Income from the two Graveyards remains steady with generally low demand for plots but with expenditure on upkeep still required. We continue to receive ad-hoc donations for the graveyards which are much appreciated and these are all used towards the cost of ongoing gardening and maintenance work.

During the year quinquennial reports were carried out on Gawsworth, Langley and Prestbury churches. The report findings have been passed on in order for them to deal with areas requiring attention. We are grateful for the care and diligence of those involved in the maintenance of our church buildings.

All these issues will be ongoing considerations of Circuit Leadership Team and Circuit Meeting where appropriate.

Expenditure trends

The circuit finances are concentrated on allowing the paid staff (ministers, mission workers and administrator) to be paid and maintaining the residences of the ministers in good order. Stipend expenditure has increased each financial year in line with conference approved increases. Lay worker salaries are based on the role specification and move in line with the annual percentage stipend increase.

As the circuit complement reduced from three ministers to two, salaries and associated costs have also reduced. Financially, the circuit is able to support two ministers and going forward, we would like to appoint accordingly.

Our work with Children & Families remains a thriving area of focus for the circuit and funding for this work has been provided until 2025. This work will be reviewed as the budget process commences and proposals will be made to Circuit Meeting for consideration. Funds are also available for youth work opportunities, both areas are provided for by reserves and this mission will form another area of our expenditure.

Over £52,000 of expenditure is the Circuit contribution to the District and Connexion, of which a significant part is used to fund the work of the wider Methodist Church. This figure has remained steady as the District transitions into its new wider self. Other expenditure includes staff costs and maintenance of the manses and the closed churches at Walker Barn and Green Close.

The circuit meeting had agreed, at the meeting in March 2023, to make a grant of up to £10,000 to Macclesfield Methodist Church towards the purchase of a new boiler. This grant was paid during the financial year for the full sum.

During the year, churches made contributions of £1,235 (2022-23 £1,235) to the circuit which were subsequently paid over to the Connexion to be split between the Property fund £810 and Fund for Presbyters/Deacons £425.

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Macclesfield Methodist Circuit

Risk management

The Circuit Meeting continues to develop procedures for identifying and addressing the risks facing the charity. The circuit properties are monitored regularly to ensure they are maintained to a good standard and attention is given to the financial situation of our churches and their ability to meet their financial commitments. We have developed robust procedures for safeguarding children, young people, and vulnerable adults including the appointment of a Circuit Safeguarding Officer. Going forward, the circuit faces a considerable risk in not being able to secure ministerial support after the end of Graham’s stationing in August. This will be a considerable focus for the circuit invitations committee and circuit meeting trustees early in the new financial year.

Principal Funding Sources

Contributions from the Churches by way of Circuit Assessment continues to be the main source of funding, accounting for 77% (2023: 85%) of normal unrestricted income. The letting of both former manses reflects improvement in rental income, with this accounting for 11% (2023:5% 2022: 5%) of normal unrestricted income.

Fund balances

Over the year fund balances fell slightly by £25,570 to stand at £2,079,957.

Reserves

The Circuit seeks to use all its assets for its charitable purposes, whilst continuing to secure and maintain the Circuit’s financial viability. It seeks to set a balanced revenue budget, in order that the ongoing normal costs of ministry, mission and management are met from investment income, grants and donations, and Circuit Assessment.

In order to meet its ongoing financial obligations - including the payment of stipends and of District and Connexional assessments quarterly in advance - and to meet unforeseen circumstances, the Circuit needs to maintain sufficient free reserves. These reserves would enable the Circuit to maintain its mission and ministry in the short term if, for whatever reason, individual Churches encounter difficulties in paying their assessments. Free reserves are defined as unrestricted reserves less the investment in tangible fixed assets.

1. General reserves

At 31st August 2024 general reserves totalled £1,860,997 of which £1,394,055 are tied up in fixed assets (properties), and £240,000 in the assets of Walker Barn and Green Close churches, which are some time off converting fully into cash, leaving liquid reserves of £226,942.

Our policy is to maintain 6 months of general expenditure in reserves (excluding fixed assets). Expenditure in 2023/24 was £203k thus requiring a reserve of approximately £102k. In addition, we have four manses which need to be maintained and always carry a risk of significant repair or needing significant renewal, as in the case of Moss Brow in 2023/24. A reserve of about £50k is considered prudent for this purpose.

On this basis total general reserves required are approximately £152,000 compared to £226,942 available. No decisions as to how the funds from the Walker Barn and Green Close churches will be taken until those assets convert fully into cash once buyers are found for each property.

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Macclesfield Methodist Circuit

2. Circuit Model Trust Fund

This totals £62,138 and represents a further unrestricted fund, held with TMCP. These funds may be used for mission purposes. Funds within Model Trust can be used to meet the shortfall in general reserves with the remainder considered as a contingency. Each year it attracts a 2.5% District levy.

3. Designated funds

These total £91,390 and represent unrestricted funds that the Circuit trustees have agreed to set aside for funding a children and families co-ordinator role for a further year along with an allocation of funding for potential youth work. Funds from circuit trust funds that were previously designated for mission purposes form part of this sum.

4. Restricted funds

The Circuit owns two graveyards which originally belonged to the former chapels at Over Alderley and Rainow Methodist churches. Access difficulties at Rainow mean the graveyard is rarely used for new graves but the one located at the former Methodist Chapel in Over Alderley is in reasonable demand, particularly as the graveyard at the nearby Prestbury Parish church is full. Income from funerals is added to the fund and the expenditure of funerals and upkeep of the grounds is taken from the fund. The balance of the fund is restricted in its use against the graveyards.

5. Endowment funds

Only one endowment fund is held. This is where the capital cannot be accessed and it relates to Over Alderley. The income however, can be used towards the upkeep of the Over Alderley graveyard.

Going Concern

The Trustees have reviewed the circumstances of the Circuit and consider that adequate resources continue to be available to fund its activities for the foreseeable future. The Trustees are therefore of the view that the charity is a going concern.

Plans for 2024/2025

Circuit budgets for the coming year assumed a staffing level of 2 ministers, one full time lay employee (Children and Families Coordinator), and a part time lay employee (Administrator). These were agreed at the Circuit Meeting in March 2024.

As part of the budgeting process, assessments were increased evenly across all churches to reflect the proposed increase in stipends and District contributions, with offset applied to reflect the additional rental income being generated by the former manse.

In March, after agreement of the budgets had taken place, the Rev Ros Watson made know her intention to retire and requested permission to be released from her stationing earlier than originally intended. This permission was granted. The circuit was, at that point too late to be considered within the stationing process for that year and although efforts were made to obtain replacement ministerial support, this was not forthcoming. Ros was due to be stationed within the circuit until 2026 and Graham until 2025. Additionally, Rev Graham Edwards secured a ministerial teaching role over the summer, meaning the circuit ministerial complement would be 0.5 with effect from 1 September 2024. Graham will undertake the teaching role full time once his time with the Macclesfield Circuit finishes in the summer of 2025.

This year will therefore be a difficult time from a resource point of view and plans are in place for an increase in circuit services and opportunities to welcome more visiting preachers to help cover preaching appointments.

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Macclesfield Methodist Circuit

The situation provides churches with the potential opportunity to join together across the circuit with each other and also ecumenically. Churches are also encouraged to become more creative in worship, using technology or changing the time of service. Gawsworth for instance, have been trialling holding one service per month in an afternoon rather than the morning.

It is recognised the budget agreed will no longer be representative of actual spend, although at the present time, true costs remain unknown. Whilst the circuit will request appointment of two ministers to start in September 2025, until the stationing process has been completed the situation will remain uncertain. The circuit will be considering finances as part of the budgeting process and this will be discussed with church treasurers.

Although the District has been subject to the same inflationary increases, some underspends have enabled it to keep the Circuit assessments more or less flat year on year. With effect from 1 September 2024 Manchester & Stockport District to which the circuit belongs will merge and become the new North West England District. It is currently unknown how this will affect District assessments going forward although it is not expected that assessments will increase significantly.

STRUCTURE, GOVERNANCE AND MANAGEMENT

As the circuit is part of the Methodist Church of Great Britain the managing trustees operate within the Methodist Church Connexion and as such, their governing document is the Constitutional Practice and Discipline (CPD) of the Methodist Church . The document is available for inspection via the Superintendent. Macclesfield Circuit is registered as a separate charity, number 1145485.

Connected charities

The Churches forming the Circuit are themselves charities and, as they are responsible for their own financial affairs, they are not reported in these statements.

Macclesfield Circuit Meeting constitution [S.O. 510] September 2023 [38 members – *currently 2 multiple with qualifications]

(i) The ex officio members (S.O. 552) [7 members]

The Superintendent Minister

The Revd Dr Graham Edwards

All ministers, probationers and persons authorised to serve the church as Presbyters or Deacons:

The Revd Ros Watson

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Macclesfield Methodist Circuit

The circuit stewards

Mrs Ruth Linde Mr Alex Price Mrs Barbara Ogle Mrs Jane Walker (Treasurer)

(ii) Any other persons stationed or residing for the purposes of the stations in, or whose names appear under the number of, the Circuit in accordance with clause (4) of Standing Order 785, and who have informed the Superintendent of their wish to be members of the Circuit Meeting for the ensuing connexional year, except that any person stationed in one circuit but residing in another for the purposes of the stations is eligible to be a member, under this head, of the Circuit Meeting of the latter Circuit only; [1 member]

Supernumerary Presbyters or Deacons [S.O. 785 (4) (a) (vi)]

The Revd Sheila Bishop

(iv) such persons, if any, as the Circuit Meeting judges it appropriate to appoint from among those employed by the meeting under Standing Order 510; [1 member]

Mrs Angela Bourne (Circuit Children and Families Coordinator)

(v) the Secretary of the Meeting [1 member]

Miss Susan Mellor

(vi) the secretary of the Local Preachers Meeting [1 member]

Mr Alan Rashleigh

(vii) from each Local Church one church steward and the church treasurer,

(viii) representatives elected by the church council of each local church from its own members in numbers specified by the circuit meeting. [Membership under 100 = 1 representative, membership over 100 = 2 representatives.] 20 members

Broken Cross Methodist Church [3 ]

Church Steward Mrs Liz Hammond Treasurer Mr John Bird 1 representative Mrs Joan Green

Gawsworth Methodist Church [3]

Church Steward Mrs Jillian Longson Treasurer Mrs Margaret Parkin 1 representative Mrs Carolyn Boden

Langley Methodist Church [3]

Church Steward Mr Alan Chapman Treasurer Mr David Bullock 1 representative Mrs Mavis Nixon

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Macclesfield Methodist Circuit

Macclesfield Methodist Church [4]

Church Steward Mrs Margery Wilson Treasurer Mrs Ruth Linde 2 representatives Mr Ian Wardle *Vacant

Poynton Methodist Church [4]

Church Steward Mrs Christine Ding Treasurer Mrs Jane Robson 2 representatives Mrs Jean Drinkwater Mrs Mandy Hawkyard

Prestbury Methodist Church [3]

Church Steward Mrs Heather Cann Treasurer Mrs Valerie Jones 1 representative Mr Eddie Jones

(ix) Additional Persons as the Circuit Meeting may desire and appoint to ensure that all areas of the life of the circuit are adequately represented, provided that the total number appointed under this head shall not exceed the total of the numbers specified by the circuit meeting for the purposes of head (viii). [9 Members]

Circuit Safeguarding Officer Mrs Pam Childs Circuit Admin Mrs Jane Walker MWiB Mrs Brenda Chapman CFW Advisor Mrs Joan Pritchard MHA Mrs Ruth Gunning Missions Miss Brenda Bailey Action for Children Vacant Hope in NE Cheshire Vacant Former Circuit Steward* David Dippie

Trustee recruitment, induction and training

As outlined above, the appointment of the majority of the members of the Circuit Meeting is outside the control of the Meeting. We encourage all trustees to undertake Governance training when available and participate in Charity Commission webinars and other training sessions as appropriate. In appointing the Circuit Leadership Team and other officers, the Meeting has regard to the balance of skills and gifts that are needed to further the work of the Church. New members of the Leadership Team are inducted by the Leadership Team.

Organisation

The Circuit Meeting is convened biannually usually in September and March. The Circuit Leadership Team, appointed by the Circuit Meeting, is responsible for acting on behalf of the Circuit Meeting at other times. The Leadership Team usually meets at least six times per year. The Circuit Meeting retains responsibility for setting the mission priorities of the Circuit, the overall strategy to deliver those priorities, the invitation of ministers, the oversight of local churches, the admission of people to the office of Local Preacher, and decisions on formal explorations of calls to ministry and candidates for the ordained ministry.

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Macclesfield Methodist Circuit

The Leadership Team is assisted in the task of financial oversight by the Circuit Treasurer and the Assistant Treasurer.

The Methodist Church appoints a minister to be the Superintendent Minister of the Circuit, whose duties are set out in the Standing Orders of the Church.

Pay and Remuneration

Stipends and allowances for presbyters and deacons (collectively ministers) are set annually by the Methodist Conference, and the Circuit is responsible for meeting those costs for all ministers appointed by the Conference to the Circuit. Fuller disclosure is contained in Note 4 to the accounts. Lay employee remuneration is set by the Circuit based on the role specification and pay moves in line with the annual percentage stipend increase.

FUTURE PLANS

The circuit will continue to provide a supporting role to its churches and will consider any issues arising through the appropriate channels of Circuit Leadership Team and Circuit Meeting as necessary.

A major focus for the start of the new financial year will be stationing and hopefully the appointment of a Superintendent Minister and a presbyter. The circuit faces challenges with limited resources for the year and we encourage church participation in the planning and organising of worship. We look forward to more circuit services as an opportunity to share worship with grow in unity with others.

Online services will be produced as resources allow and we encourage the revisiting and sharing of the substantial catalogue of services available on the circuit YouTube channel.

Ongoing maintenance and management of the manses and graveyards will be the focus of the Circuit Stewards with responsibility for property. Ongoing issues relate to dealing with Walker Barn and Green Close churches.

We accept the demand for Sunday evening services has reduced substantially since the pandemic and this remains an area to consider going forward once new ministerial appointments have been made.

The circuit is delighted that following a very successful stationing process, the circuit will have Superintendent and presbyter ministers joining us in September. These appointments are however, still subject to Conference approval at this stage.

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Macclesfield Methodist Circuit

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The law applicable to charities in England and Wales requires the Circuit Meeting to prepare financial statements for each financial year which give a true and fair view of the state of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial statements, the Circuit Meeting has to:

The Circuit Meeting is responsible for keeping records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with applicable regulations. It is also responsible for safeguarding the assets of the charity and hence for taking steps for the prevention and detection of fraud and other irregularities.

INDEPENDENT EXAMINERS

As it is now necessary to undertake accruals accounting, Peter Smith, of Peter Smith Accountancy Services has been appointed as Independent Examiner.

REV GRAHAM EDWARDS

DATE 10 MARCH 2025

ON BEHALF OF CIRCUIT MEETING

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Macclesfield Methodist Circuit acciesFieLQ eiHoDISI CifcuiL Independent Examinerfs Report to the Trustees of the Macclesfield Methodist Circuitfor the year ended August 312024 l rnport to th• chaiity trustms on ry ￿MInatIOn of th• •¢¢ounls of the tharity lor th• ye•r ended August 312024 arn sot out on pages 14 to 28. lkn•pon•lbllltl•• and ba•ls ol r•port As Ihe charills trust•o8 you ar• r•sponslblo lorthe prnparntlon of th• acco￿￿ in acc%Kdanc• ith lh• rnquirements of the Charities Acl 2011 ('the Act.). I report in rnspact of my exomination of tho charillj accounts carried out under section 145 ofthe Ad and in carrying out my •xamination I have follvwed all the applicable Dtreclions given by the Charity Commlsslon under saction 145(5)(b) of thè Ad. Ind•p•nd•nt •xamln•rf• •lat•m•nt Your attentioft li drawn lo tho fact that the chanty has prnparnd finanool •tat•m8rrts in afxord•nc• Ythh A(xounting and Reporting by Chorities weparing their accounts in accordance with the Finanaal Rèporting Standard appli¢abl• in the UK (FRS 102} in preference to th• Accounting and Reporting by Charities.. Statement of Racommendad Prad1￿ is$uod on 1 April 2(K15 vthich is roferrod to in the extant régulations but has ncw been withdrawn. l understand that thi$ h•• b••n don• in ordor lor financaal stat•m•nt8 to provTrd• a tru• and falr vl•w In a<urdanc• with G•n•rnlly Accopled Accountlng Prn¢Xice •ff•ctive for reportirKJ poriods baginning on or oft•r 1 January 2015. &nc• th• th•ntys gros8 income •xc•oded £250,[￿ •xamin•r must ￿ • m•mber crf • body lisled in section 145 of tho Act. I confnn that l am qualified to undertake the examination bKaus• l a member of ICAEW which 18 one of the listed bodies. I have compl•t•d my •xamlnalion. l o)rfm? that no mat•rlal matters h•ve com• lo ry ￿tt￿lI0n in cmnoction with th• examination glvlng mo cause lo beliove that In any mat•rial rn8p•ct'. accountlnq record• wer8 not kept in re$poct ￿ tho d￿rity as rnquir•d ty sodion 130 of th• Act: or the accounts do not accord with thos• records: or the accounts do not ¢i¥nply with the applicabl• r•quirnmonts concoming th• forni and conlent of accounts s•1 out in thè Charities (Accounts and R•ports) R•gulations 2008 oth•r than •ny r•quir•monl that th• accounts gNe • 'tru• and lair vi*41 is not matter Considernd as part of an indep•nd•nt examination. I have no concerns and have come no othor matters In connectlon V•ith the examlnatlon to attentlon shoukl bo in this report in order to enable a proper understandina of the accounts to be reached. Pot•r Smith BA A DChA Potor Smrth Accountancy S•rvl¢•s 9 Polruan Road Chorfton-cum-Hardy Manth•sler M219NR D•l•'. 2310￿5 15

Macclesfield Methodist Circuit

Statement of Financial Activities

Statement of Financial Activities (SOFA) for the year ended 31 August 2024

Notes to Notes to Circuit Model Designated
the General Fund Trust Funds Restricted Endowment Total
accounts accounts
(Unrestricted)		 (Unrestricted) (unrestricted) Funds Funds 2022-23
£ £ £ £ £ £
Income
1 Donations and legacies 0
2 Income from monetaryinvestments 16,248 3,051 3,101 22,400
3 Income from investmentproperties 24,247 24,247
4 Assessments on Churches 167,256 167,256
5 Capital Receipts 255 255
6 Grants received 0
7 Other charitable income 12 7,130 3,776 4,995 15,901
8Total income 215,136 3,051 3,776 8,096 - 230,059
Expenditure
9 Grants and donations 10,000 10,000
10 Salaries and associated costs 89,288 32,022 121,310
11 Propertymaintenance 40,504 40,504
12 Connexional assessment & model trust levy 0
13 District Assessment & Levy 49,956 2,117 52,073
14 Depreciation 9,715 9,715
15 Office expenses 13,449 241 5,359 19,049
16 Other outgoings 5,004 8 5,012
17Total charitable expenditure 212,912 2,358 37,381 5,004 8 257,663
18 Gains/(losses)on monetaryinvestments 1,754 280 2,034
19 Gains/(losses)on investmentproperties
20Net income/(expenditure) 2,224 2,447 -33,605 3,092 272 -25,570
21 Transfers between funds 13 25,000 25,000
-		 73 73
-		 0
22 Othergains/(losses)
23Net movement in funds 27,224 -22,553 -33,605 3,165 199 -25,570
24 Total funds brought forward 1,833,773 84,691 124,995 59,427 2,641 2,105,527
25 Total funds carried forward 1,860,997 62,138 91,390 62,592 2,840 2,079,957
Note 14

16

Macclesfield Methodist Circuit

Statement of Financial Activities (SOFA) for the year ended 31 August 2023

Notes to Notes to Circuit Model Designated
the General Fund General Fund
Trust		 Funds Restricted Endowment Total
accounts accounts
(Unrestricted)		 (Unrestricted) (unrestricted) Funds Funds 2022-23
£ £ £ £ £ £
Income
1 Donations and legacies 0
2 Income from monetaryinvestments 10,669 2,397 1,861 81 15,008
3 Income from investmentproperties 13,136 13,136
4 Assessments on Churches 199,285 199,285
5 Capital Receipts 7 ~~r~~ 0
6 Grants received 0
7 Other charitable income 12 11,000 4,508 1,738 ~~r~~ 17,246
8Total income 234,090 2,397 4,508 3,599 81 244,675
Expenditure
9 Grants and donations 40 40
10 Salaries and associated costs 120,380 30,795 151,175
11 Propertymaintenance 20,090 20,090
12 Connexional assessment & model trust levy 0
13 District Assessment & Levy 50,298 2,173 52,471
14 Depreciation 9,715 9,715
15 Office expenses 12,548 248 5,218 18,014
16 Other outgoings 4,764 4,553 195 9,512
17Total charitable expenditure 217,835 2,421 36,013 4,553 195 261,017
18 Gains/(losses)on monetaryinvestments 2,218
-		 -2,218
19 Gains/(losses)on investmentproperties
20Net income/(expenditure) 16,255 -2,242 -31,505 -954 -114 -18,560
21 Transfers between funds 13 0
22 Othergains/(losses)
23Net movement in funds 16,255 -2,242 -31,505 -954 -114 -18,560
24 Total funds brought forward 1,817,518 86,933 156,500 60,381 2,755 2,124,087
25 Total funds carried forward 1,833,773 84,691 124,995 59,427 2,641 2,105,527

17

Macclesfield Methodist Circuit

Balance Sheet

Balance Sheet as at 31 August 2024

Balance Sheet as at 31 August 2024gust 2024ust 2024 Balance Sheet as at 31 August 2024gust 2024ust 2024 Balance Sheet as at 31 August 2024gust 2024ust 2024 Balance Sheet as at 31 August 2024gust 2024ust 2024 Balance Sheet as at 31 August 2024gust 2024ust 2024
Notes to the
General Fund
(Unrestricted)
Circuit Model
Trusts
(Unrestricted)
Designated
Funds
(Unrestricted)
Restricted
Funds
Endowment
Funds
Totals
2023/24		 Totals
2022/23
Accounts
£
£
£
£
£
£		 £
Fixed Assets
Circuit Manses & Equipment 1,394,055 1,394,055 1,403,770
Investmentproperties 0 0
Investments
~~pT~~		 ~~pT~~ ~~pT~~ 62,138
~~pT~~		 ~~pT~~ 60,371
~~pT~~		 2,840
~~pT~~		 125,349
~~pT~~		 144,692
Total fixed assets
~~pT~~		 1,394,055
62,138
0
60,371
2,840
1,519,404
~~pT~~		 1,548,462
Current Assets
~~po~~
Debtors
~~po~~		 7 2,297 2,297 7,361
Loans bythe Circuit
~~pT~~		 ~~pT~~ ~~pT~~ ~~pT~~ ~~pT~~ ~~pT~~ ~~pT~~ 0
~~pT~~		 0
PropertyInvestments
~~pT~~		 7
~~pT~~		 240,000
~~pT~~		 ~~pT~~ ~~pT~~ ~~pT~~ ~~pT~~ 240,000
~~pT~~		 271,541
Central Finance Board Deposits
~~po~~		 ~~po~~ 252,732
~~po~~		 ~~po~~ 91,390
~~po~~		 ~~po~~ ~~po~~ 344,122
~~po~~		 303,346
Cash at Bank and in hand
~~pT~~		 ~~pT~~ 15,832
~~pT~~		 ~~pT~~ ~~pT~~ 2,221
~~pT~~		 ~~pT~~ 18,053
~~pT~~		 17,507
Total current assets
~~pT~~		 510,861
0
91,390
2,221
0
604,472
~~pT~~		 599,755
Current liabilities
Creditors (due in under 1 year) 43,919 43,919 42,690
Grantspayable within 2018-19 0 0
Total current liabilities 43,919 0 0 0 0 43,919 42,690
Net current assets/liabilities 466,942 0 91,390 2,221 0 560,553 557,065
~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~
Total assets less current liabilities
~~Po~~		 1,860,997
62,138
91,390
62,592
2,840
2,079,957
~~Po~~		 ~~Po~~ 2,105,527
~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~ ~~Po~~
Long term liabilities
(due after more than one year)
Grantspayable after 2018-19 0 0
Loans to the Circuit 0 0
0 0
Net assets 1,860,997
62,138
91,390
62,592
2,840
2,079,957		 2,105,527
Funds of the Circuit
General Fund(Unrestricted) 1,860,997 1,860,997 1,833,773
Circuit Model Trust Fund (Unrestricted) 62,138 62,138 84,691
Designated Funds (Unrestricted) 91,390 91,390 124,995
Total Unrestricted Funds 2,014,525 2,043,459
Restricted Funds 62,592 62,592 59,427
Endowment Funds 2,840 2,840 2,641
Total Funds 1,860,997
62,138
91,390
62,592
2,840
2,079,957		 2,105,527

18

Macclesfield Methodist Circuit

Cash Flow Statement

2024 2023
£ £
Cash used in operating activities Note 10 (33,996) (26,601)
Cashflows from investing activities
Interest and dividends 22,680 15,008
Proceeds of disposal of fixed assets -
Transfer in of tangible fixed assets -
Proceeds of sale of investments -
Reclassification as Current Assets
Purchase of investments (3,904) (1,679)
Cashprovided by/(used in) investing activities 18,776 13,329
Cashflows from financing activities
Proceeds from new borrowings -
Repayment of borrowing -
Cash used in financing activities -
Increase/(decrease) in cash & cash equivalents in theyear (15,220) (13,272)
Cash and cash equivalents brought forward 310,182 323,454
Cash and cash equivalents carried forward 294,962 310,182

19

Macclesfield Methodist Circuit

Notes to the Financial Statements

1 ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items, which are considered material in relation to the charity’s financial statements.

Scope of the financial statements

The financial statements relate solely to Macclesfield Methodist Circuit.

Basis of preparation

The accounts (financial statements) have been prepared in accordance with: the Statement of Recommended Practice – Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective January 1 2019 (second edition – October 2019); and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102); and the Charities Act 2011 and UK Generally Accepted Practice.

The accounts (financial statements) have been prepared to give a ‘true and fair’ view and 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 Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The charity constitutes a public benefit entity as defined by FRS102.

Income

Total Incoming Resources as shown in the Statement of Financial Activities represents the net amounts from all sources.

Income is recognised in the accounting period in which it is receivable, except in the following circumstances, when the income is deferred and included in creditors:

· The income relates to a future accounting period

· A sales invoice has been raised ahead of the work being carried out and the charity is not contractually entitled to the income until the work has been done

· Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded.

Income includes grants in respect of revenue and capital items.

Income recognition

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. The following applies to particular types of income:

Grants , whether of a capital or revenue nature, are recognised when the charity has entitlement to the funds, any performance conditions have been met and it is probable that the income will be received.

20

Macclesfield Methodist Circuit

General donations from individuals and other bodies (not being of the nature of a grant) are recognised when receivable.

Church Assessments are recognised in the period for which they have been given and any advance payments are deferred in line with the policy below.

Deferred income

Income is only deferred and included in creditors when:

· The income relates to a future accounting period

· A sales invoice has been raised ahead of the work being carried out and there is no contractual entitlement to the income until the work has been done

· Not all the terms and conditions of the grant have been met, including the incurring of expenditure and the grant conditions are such that unspent grant must be refunded

Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds, including those associated with fundraising activities and investment management cost.

Charitable activities - costs of undertaking the work of the charity.

The charity is not registered for VAT and cannot recover any input tax charged. Costs are stated inclusive of VAT where charged.

Taxation

Macclesfield Methodist Circuit is exempt from Corporation Tax by reason of its charitable status. Income tax suffered on deeds of covenant and gift aid or investment income is reclaimed in full.

Fixed assets and depreciation

The Circuit has capitalised the freehold properties for which it acts as the Managing Trustees at the Trustees’ valuation in 2018 or at subsequent purchase price. Depreciation has been provided at the rate of 0.67% per annum. The Circuit has no other fixed assets.

Investments, gains and losses

Fixed asset investments are a form of basic financial instrument and are initially recorded at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The SoFA includes the net gains and losses arising on revaluation and on disposals throughout the year.

Gains and losses on are taken to the Statement of Financial Activities as they arise. Realised gains and losses are calculated as the difference between sale proceeds (net of transaction costs) and the opening carrying value or cost, if acquired during the year. Unrealised gains and losses are calculated on the difference between opening and closing fair values.

Financial instruments

The charity has only basic financial instruments which are initially recorded at cost, and with the exception of investments (as set out above) subsequently measured at their settlement value.

21

Macclesfield Methodist Circuit

Methodist Ministers’ Pension Fund

The Circuit is a member of the Connexional pension scheme (MMPS) which covers presbyters and deacons of the Methodist Church. The contribution rates are set each year by the Methodist Conference, and for the year under review the employer contributions were 26.9% of stipend (2023: 26.9%).

The MMPS is a multi-employer scheme, and in accordance with the guidance issued by the Charity Commission, the Circuit accounts for those contributions as if it were a defined contribution scheme. It has done so because it is unable to identify its share of the underlying assets and liabilities on a consistent and reasonable basis. Contributions are charged to the SoFA in the period in which they are payable.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

22

Macclesfield Methodist Circuit

Notes 2 – 4

~~PT~~ Macclesfield Methodist Circuit
~~PT~~		 Macclesfield Methodist Circuit
~~PT~~		 Macclesfield Methodist Circuit
~~PT~~		 Macclesfield Methodist Circuit
~~PT~~		 Macclesfield Methodist Circuit
~~PT~~
~~PT~~ ~~PT~~ ~~PT~~ ~~PT~~ ~~PT~~ ~~PT~~
~~2~~. Payments to Trustees This year Last year
~~es~~ ~~es~~ ~~es~~
~~		 ~~
Payments made to trustees for additional services provided to £
~~es~~		 None
~~es~~		 ~~es~~
~~		 ~~
~~es~~
~~		 ~~ ~~es~~
~~		 ~~
Number of trustees who were
paid expenses		 ~~ ~~ None
~~		 ~~
~~PT~~ ~~PT~~ ~~PT~~ ~~PT~~ ~~ ~~
~~PT~~		 ~~ ~~
~~PT~~
Nature ofthe expenses
~~PT~~		 ~~PT~~
~~PT~~ ~~PT~~ ~~PT~~ ~~PT~~ ~~PT~~
~~es~~		 ~~PT~~
~~es~~		 ~~PT~~
~~es~~
~~		 ~~
Total amount paid £
~~es~~		 Nil
~~es~~		 ~~es~~
~~		 ~~
~~es~~ ~~es~~ ~~es~~
~~		 ~~
~~3~~. Fees for examination or audit of the accounts
~~es~~ ~~es~~ ~~es~~
~~		 ~~
Independent examiner’s or auditors'fees for reporting on the accounts £
~~es~~		 850
~~es~~		 ~~es~~
~~		 ~~
~~es~~
~~rs~~		 ~~es~~
~~rs~~		 ~~es~~
~~		 ~~
~~rs~~
~~
Other fees (eg:advice, accountancy services) paid to the examiner/auditor £
~~rs~~		 None
~~rs~~		 ~~rs~~
~~		 ~~

23

Macclesfield Methodist Circuit

4 STAFF INFORMATION 4 STAFF INFORMATION 4 STAFF INFORMATION 2024 2023
£ £
**a ** Staff costs
Stipends and salaries 90,890 114,330
Employer's NI contributions 8,117 10,456
Pension contributions-Methodist Ministers Scheme 16,238 22,760
115,246 147,546
No staff member was paid more than£60,000 p.a. in either year.
**b ** Key management personnel
The key management of the charity comprise the trustees, which includes the ordained members of staff who are
_ex officio_members of the Circuit Meeting but do not receive any payment specifically for acting as trustees.
Both lay staff also serve as trustees, one as treasurer, but do not receive any payment specifically for acting as trustees.
The other trustees do not receive any remuneration for their services.
£ £
The total remuneration benefits of the keymanagement 115,246 147,546
**c ** Average staff numbers
The average number of members of staff whether full or part time was as follows:-
2024 2023
Average Average
number number
Ordained staff (office holders not employees) 2 3
Lay employees 2 2
4 5

24

Macclesfield Methodist Circuit

Note 5 – fixed assets

Detail of assets held:
4 Manses - at Marlborough Drive, Tytherington, Moss Brow, Bollington, Atholl Close, Macclesfield and Ivy Road,
Poynton		 Detail of assets held:
4 Manses - at Marlborough Drive, Tytherington, Moss Brow, Bollington, Atholl Close, Macclesfield and Ivy Road,
Poynton		 Detail of assets held:
4 Manses - at Marlborough Drive, Tytherington, Moss Brow, Bollington, Atholl Close, Macclesfield and Ivy Road,
Poynton		 Detail of assets held:
4 Manses - at Marlborough Drive, Tytherington, Moss Brow, Bollington, Atholl Close, Macclesfield and Ivy Road,
Poynton		 Cost or valuation Total £ 1,450,000 0 0 0 0 1,450,000 Accumulated depreciation 46,230 9,715 0 0 0 55,945 Net book value 1,403,770 1,394,055
Payments on
account and
assets under
construction		 £ 0 0 0 - -
Fixtures,
fittings and
equipment		 £ 0 0 0 - -
Other fixed
assets
including
motor vehicles		 £ 0 0 0 -
Other
buildings		 £ 0 0 0 - -
Manses £ 1,450,000 1,450,000 46,230 9,715 55,945 1,403,770 1,394,055
Land £ 0 0 0 - -
5. Tangible Fixed Assets Balance brought forward Additions Revaluations & Gain/Loss on Disposal(+/-) Disposals(-) Transfers(+/-) Balance carried forward Balance brought forward Depreciation charge foryear(-) Revaluations(+/-) Disposals(-) Transfers*(+/-) Balance carried forward Brought forward Carried forward

25

Macclesfield Methodist Circuit

Notes 6 – 9

6. FIXED ASSET INVESTMENTS 2024 2023
£ £
Market value brought forward 144,692 145,346
Income re-invested 3,704 1,678
Additions at cost - -
Disposals at carryingvalue - -
Transfers (25,000) -
Netgain/(loss)on revaluation 1,953 (2,332)
Market value carried forward 125,349 144,692
Investments at fair value comprise:
Cash held within investmentportfolio 125,349 144,692
125,349 144,692
Unrestricted funds(CMTF) Restricted funds(Graveyards) Endowment funds
2024 2023 2024 2023 2024 2023
£ £ £ £ £ £
Market value brought forward 84,691 86,933 57,360 55,658 2,641 2,755
Income re-invested 693 (24) 3,011 1,702
Additions at cost
Disposals at carryingvalue
Transfers (25,000)
Reclassification as Current Assets
Netgain/(loss)on revaluation 1,754 (2,218) 199 (114)
Market value carried forward 62,138 84,691 60,371 57,360 2,840 2,641

26

Macclesfield Methodist Circuit

~~r~~
7.
~~r~~		 Analysis of current assets This year Last year
Debtors and prepayments £ £
Prepayments 2,297 7,361
Property Investments
At 31st August 2022, Walker Barn and Green Close Methodist
Churches had ceased to worship and come under the control of the
Circuit. Residual remaining net assets were included in the 2022
accounts as a capital receipt in income and other debtors on the
balance sheet. In the current year, the remaining cash has been
transferred to the Circuit bank account and at year end estimated
property values were reconfirmed. The year end balances are:
Green Close building at estimated sale proceeds net of levy and
other costs		 £220,000 £220,000
Walker Barn building at estimated sale proceeds net of levy and
other costs		 £20,000 £20,000
Cash and cash equivalents £0 £31,541
Total 240,000 271,541
8. Analysis of current liabilities and long term creditors
Trade Creditors Nil Nil
Other Creditors (principally assessments received in advance) 43,919 42,690
Total Current Liabilities 43,919 42,690
9. Capital Commitments and Contingent Liabilities
At the 31st August 2024 the Circuit has no capital commitments(2023: none).
No Contingent liabilities were identified at eitheryear end.

27

Macclesfield Methodist Circuit

Notes 10 - 13 10 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASHFLOW FROM OPERATING ACTIVITIES

2024 2023
£ £
Net income/(expenditure)before transfers (25,570) (18,560)
Deduct/(add) gains/(losses)on investments (1,754) 2,332
Add back depreciation on fixed assets 9,715 9,715
Deduct interest income shown in investingactivities (22,680) (15,008)
Decrease/(increase)in debtors 5,064 2,851
Increase/(decrease)in creditors 1,229 (7,931)
Net cashgenerated from/ enerated from/(used in) operating activities (33,996) (26,601)

11 RELATED PARTY TRANSACTIONS

Stipends and allowances for presbyters and deacons (collectively known a ministers) are set out annually by the Methodist Conference, and the Circuit is responsible for meeting those costs for all Ministers appointed annually by the Conference to serve the Circuit.

The following Ministers received the basic stipend £29,040 (2022/23 - £26,928) and were provided with living accommodation in 2023/24: The Revd Dr Graham Edwards and The Revd Ros Watson. The Revd Graham Edwards received the Connexionally agreed additional superintendents' allowance of 10% of stipend.

12 OTHER CHARITABLE INCOME

Other charitable income in 2023/24 of £7,130 (2022/23 £11,000) included income from another circuit as a proportionate contribution towards the Superintendent’s cost. Donations and graveyard fees are included in the appropriate fund. Rental income from the former manses is included as income from investment properties.

13 CIRCUIT MODEL TRUST MONEY

Over the year, it was necessary to withdrawn an amount of £25,000 to fund the renovation work to the manse at Moss Brow. Other changes to the fund total relate to the effect of the District contribution deduction, revaluation and admin charges. These Funds form part of our general reserves and as such may be called upon as necessary.

14 DESIGNATED FUNDS

At 31 August 2024 designated funds totalled £91,390, this represents the balance of funding set aside for the Circuit Family Worker totalling £61,390 and £30,000 to support future youth related work.

At 31 August 2024 designated funds totalled £91,390, this represents sufficient for two further years of funding for the Circuit Family Worker totalling £61,390 and £30,000 to support future youth related work. The contractual commitment in place for the Circuit Family Worker is currently for one year to 31st August 2025, a formal decision whether to extend beyond that date will be confirmed by the Circuit Meeting in due course.

28