2025-08-31-accounts - Glossop and Tameside Methodist Circuit

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GLOSSOP AND TAMESIDE METHODIST CIRCUIT

ANNUAL REPORT

AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 202 ~~5~~

Registered Charity No. 1150558

GLOSSOP AND TAMESIDE METHODIST CIRCUIT TRUSTEES’ ANNUAL REPORT AND THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

INDEX

Charity information	1 – 2
Trustees’ report	3 – 6
Examiner’s report	7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10–14

GLOSSOP AND TAMESIDE METHODIST CIRCUIT CHARITY INFORMATION FOR THE YEAR ENDED 31 AUGUST 2025

Trustee Name	Ofce	Circuit Meetng
Rev Hazel Ann Cook		Circuit Superintendent
Rev Robert Andrew Balfour		Minister
Rev Michael David Jones		Minister
Rev Roger Walton
Rev Graham Tarn		Minister
Mr Robert John Davies
Mrs Lai-YingEliza Ho		Layworker
Mrs Valerie Allayne Williams		Circuit Secretary
Miss Emmaline Safron Krause		Circuit/Aspinall
Mrs Katherine Louise Balfour		Circuit SafeguardingOfcer
Mrs Rowena Mellor		Circuit Treasurer/Property
Mrs Jean Blair		Circuit Steward
Mrs Helen Chauhan		Circuit Steward
Mrs Helen Murphy		Circuit Steward/Denton Treasurer
Mrs Sharon LesleyDolly		Aspinall Treasurer
Mrs Gil Hall		Chisworth Steward
Ms Irene Rothery		Chisworth Treasurer
Andrew Mason		Denton Steward
Mrs Margaret Thorp		Dukinfeld Treasurer
Mr Alan Mellor		Dukinfeld Steward
Mrs Jane Hewson		GlossopSteward
Mrs Carol Sidebotom		GlossopTreasurer
Mrs Caroline Jane Phillips		Hadfeld Steward
Glynn Veitch		Hadfeld Treasurer
Mr Allen Gordon Flowers		Hollingworth Steward
Mr Robert Bernard Warin		Hollingworth Treasurer
Mrs DorothyWanjohi		Hyde Steward
Mr David Charlton		Hyde Treasurer
Mrs Larraine Jean Horrocks		Hurst Steward
Mr Alan John Burgess		Hurst treasurer
Mrs Judith Buck		MossleySteward
Mr PhillipAntonyPache		MossleyTreasurer
Miss Irene Gwyneth Hirst		Stalybridge Treasurer
Mrs Lilian Cullen		Stalybridge Rep
Mrs Beryl Smith		Rosemount Treasurer
Mrs Susan MaryGregory		TrinityRep
Ann Cooper		Trinityrep
Miss JudyEvans		West End Steward
Mrs Barbara O’Brien		West End Treasurer
Alan Reid		Waterloo Steward Waterloo Treasurer
Carol Borsey

GLOSSOP AND TAMESIDE METHODIST CIRCUIT CHARITY INFORMATION FOR THE YEAR ENDED 31 AUGUST 2025

CIRCUIT STEWARDS

Mrs Jean Blair Mrs Rowena Mellor Mrs Helen Chauhan Mrs Helen Murphy Miss Emmaline Krause

CIRCUIT OFFICE Stalybridge Methodist Church High Street, Stalybridge SK15 1SE INDEPENDENT EXAMINER Peter Smith BA FCA DChA Peter Smith Accountancy Services 9 Polruan Road Chorlton-cum-Hardy Manchester M21 9NR SOLICITORS Rupert Wood & Sons 60-66 Wellington Rd Ashton-under-Lyne OL6 6DE BANKERS Co-operative Bank plc INVESTMENT MANAGERS Central Finance Board of the Methodist Church 9 Bonhill Street London EC2A 4PE REGISTERED CHARITY 1150558

GLOSSOP AND TAMESIDE METHODIST CIRCUIT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The Trustees present their Annual Report together with the consolidated financial statements of the charity for the year ended 31 August 2025.

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 same charitable objectives as the rest 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.”

Public Benefit

The Trustees have regard to the Charity Commission’s guidance on public benefit, including the specific guidance on charities for the advancement of religion.

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 ordained members and the lay staff representative, all the other members of the Circuit Council are unpaid volunteers, and the vast majority of the Charity trustees are also volunteers.

GLOSSOP AND TAMESIDE METHODIST CIRCUIT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

ACHIEVEMENT AND PERFORMANCE

The Trustees have regard to the Charity Commission’s guidance on public benefit, including the specific guidance on charities for the advancement of religion.

The trustees are committed to reaching out to as many people as possible in the Circuit’s geographical area through regular worship at the sixteen member churches, which provide pastoral care and community activities as part of their outreach and also through regular children’s and family activities.

To take a lead on the above activities funding is provided to allow for the following:-

Three full time ministers, and one full time lay worker.
All of their legitimate expenses are covered.

Within the circuit there are also eleven non-stipendiary supernumerary ministers, plus a part time URC minister.

The work of the ministers is supported by two voluntary lay pastors in the following areas:- Children & Young People, Learning & Caring.

There is a team of local preachers from across the churches in the circuit, who contribute to weekly worship

services. The circuit also employs a part time administrator.

A preaching plan is produced to ensure that regular acts of worship, open to all, can take place at each of the fifteen churches – Dukinfield, Hurst, Mossley, Stalybridge, Trinity Audenshaw, Waterloo, West End, Glossop Central, Hadfield, Hollingworth, Chisworth, Hyde Central, Denton, Trinity Rosemount, Aspinal and. Trinity Audenshaw is a local ecumenical partnership with the United Reform Church.

Support is also offered to the community through Chaplaincy to Rosehill Methodist Primary Academy.

The circuit was formed in September 2020 as a result of the merger of the former Ashton-under-Lyne, Glossop and Hyde & Denton Circuits to form the Glossop & Tameside Circuit. Since then, it has achieved the following:

An updated Circuit Safeguarding Policy was approved to ensure the correct proceedings were in place and adhered to.
The Circuit is active in many ways: we have had strong links with Ukrainian families and a support group has been set up, there is support for refugee and asylum families, there is a Helping Hand charity shop at one of the churches, all churches are active in local events and activities for the local communities, we are pursuing becoming an eco- circuit. We have started a pre loved uniform exchange at the school and one of the churches has repair café.
Links with other schools are nurtured through the Experience Journeys
There is a strong link with members who are housebound and regular pastoral visits take place. Worship takes places weekly in all the churches. Different types of worship are explored: breakfast church, tea time church, outdoor and contemporary worship are some examples.

The Circuit faces many challenges but has developed a mission plan which we are seeking to work on and develop.

FINANCIAL REVIEW

Overview

The Circuit had a deficit on unrestricted funds, after transfers for the year of c£419k and a surplus on the unrestricted model trust funds for the year of c£274. This was mainly attributable to the sale of a manse in the year which reduces the assets in the general funds but the proceeds are credited to model trust funds.

Risk management

The Circuit Meeting continues to develop procedures for identifying and addressing the risks facing the charity. It has already enhanced its financial procedures and, in common with other Churches, has developed robust procedures for safeguarding children, young people and vulnerable adults.

Principal Funding Sources

Contributions from the Churches by way of Circuit Assessment continue to be the main source of funding, accounting for c72% (2024: 55%) of income.

GLOSSOP AND TAMESIDE METHODIST CIRCUIT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Investment Policy and Review

The Circuit continues to actively review its investments in the light of immediate cash flow requirements and medium- to long-term plans. The bulk of the Circuit’s Model Trust Fund (representing past proceeds of sales of property) is invested via funds managed by the Central Finance Board of the Methodist Church. The Circuit continues to review its investment strategy.

Reserves

The Reserves Policy for the Circuit is based on holding a sum equivalent to three months average expenditure, which is regarded as sufficient to meet any unforeseen item of major expenditure on manses and/or to be able to continue in the short term to fund planned activities in the event of the closure of a large church or an inability to raise the Circuit assessment from churches. This would give a target of c£84k.

At the year end the free reserves (unrestricted funds not invested in fixed assets or otherwise designated) were c£309k, with a further c£623k held in the Model Trust Funds which are freely available to the Circuit for its general purposes.

The Circuit continues to review its mission and ministry and how best these reserves can be used to further the Kingdom of God.

FUTURE PLANS

The Circuit continues to develop its forward planning and to assess its future capital funding needs. Within the context of the calling of the Methodist Church (as set out above) the Circuit aims to:

support and encourage each local congregation in mission and ministry;
strengthen the training culture within the Circuit, encouraging lay preachers and worship leaders in their development, supporting probationers and facilitating the development of student Ministers and presbyters in training;
review and actively manage the Circuit’s investments in its financial and property resources, seeking to selectively release resources for mission, ministry and outreach;
work through the Methodist Church stationing procedures to secure the appointment of new ministerial staff as required.
work ecumenically, especially in supporting and developing established and new Local Ecumenical Partnerships.

STRUCTURE GOVERNANCE AND MANAGEMENT

The Glossop and Tameside Circuit is part of the Methodist Church of Great Britain and is registered as a charity with number 1135067.

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. The Circuit is also associated with Nexus CCS, a separately registered charity.

A ppointment of Trustees

All ministers, presbyterial and diaconal, stationed in the Circuit 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 (that is not retired), are ex-officio members of the Circuit Meeting (the Trustee Body). Other ministers who reside in the Circuit in accordance with the standing orders of the Church (including those who are retired) may choose to be members of the Circuit meeting, and if they have done so they are shown in the list of trustees as ex-officio.

The following are ex officio members of the Circuit Meeting:

Circuit Stewards appointed by the Circuit Meeting Circuit Meeting Secretary appointed by the Circuit Meeting Representatives to District Synod appointed by the Circuit Meeting Local Preachers Secretary appointed by the Local Preachers’ Meeting Circuit safeguarding Officer appointed by the Circuit Meeting

Each Church is represented by a Church Steward, the Church Treasurer. Or a Church member appointed by Church Council

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. In appointing the Council 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 Council are inducted by the Council with the support of the Superintendency team.

GLOSSOP AND TAMESIDE METHODIST CIRCUIT TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 AUGUST 2025

Organisation

The Circuit Meeting meets four times a year. The Circuit Stewards, appointed by the Circuit Meeting, along with the Superintendent Minister are responsible for acting on behalf of the Circuit Meeting at other times, and they meet as required.

The Methodist Church appoints the Superintendent Minister of the Circuit, and their duties are set out in the Standing Orders of the Church.

Pay and Remuneration

TRUSTEES’ RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The Trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). These require the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for that period. In pre paring those financial statements, the Circuit Meeting has:

selected suitable accounting policies and applied them consistently;
observed the methods and principles in the Charities SORP 2015 (FRS 102);
made judgements and estimates that are reasonable and prudent;
stated whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepared the financial statements on the going concern basis

The Circuit Meeting is responsible for keeping adequate 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 statements comply with applicable regulations. It is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ON BEHALF OF CIRCUIT MEETING

H Cook

REV H COOK - SUPERINTENDENT MINISTER

Date: 25[th] February 2026

GLOSSOP AND TAMESIDE METHODIST CIRCUIT GROUP STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

I report to the charity trustees on my examination of the accounts of the charity for the year ended August 31 2025 which are set out on pages 8 to 14.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Repo rting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I a member of the ICAEW which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Peter Smith

Peter Smith BA FCA DChA

For and on behalf of: Peter Smith Accountancy Services Chartered Accountants 9 Polruan Road Chorlton Manchester M21 9NR Date: June 25 2026

The notes on pages 18 to 14 form part of these financial statements.

GLOSSOP AND TAMESIDE METHODIST CIRCUIT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

	Notes to the accounts	Unrestricted funds	CMTF (Unrestricted)	Restricted Funds	Endowment Funds	Totals 2024-25	Totals 2023=2024
		£	£	£	£	£	£
Income and Endowments from:
Grants, Donatons & Legacies
Charitable actvites
Assessments on Churches		237,715				237,715	245,431
Other			0			0	0
Other trading actvites		0				0	0
Investments		6,115	21,356			27,471	32,585
Methodist Ministers Pension Reserve			0			0	108,559
Other income
Internal organisatons				1,463		1,463	1,188
CPF Levy - Manse purchase						0
Other		64,460			0	64,460	59,556
Total		308,290	21,356	1,463	0	331,109	447,319
Expenditure on:
Stpends, Salaries, NIC & Pension Costs	4	166,718				166,718	142,903
District Assessment & Levy		77,167				77,167	72,984
District & Circuit Payments (CMTF)		0	0			0	24,688
Telephone, Travel & Expenses		8,372				8,372	9,424
Insurance & Utlites		14,079				14,079	12,438
Maintenance on Manses		22,372				22,372	7,389
Expenditure on Investment Property						0	0
Depreciaton	7					0	0
Other Expenditure
Internal organisatons		13,229		1,053		14,282	12,815
CPF Levy - Investment Property sale			0			0	0
Ofce & Lay Expenses		3,971				3,971	5,747
Administraton Charges		0	0			0	1,270
Independent examiners fees							0
Other		21,670	18,544			40,214	46,072
Methodist Ministers Pension Reserve							0
Grants & Donatons						0	0
Total		327,578	18,544	1,053	0	347,175	335,732
Net Income/(Expenditure)		-19,288	2,812	410	0	-16,066	111,587
Transfers between Funds		0	0			0	0
Transfers between Funds (Internal Organisatons)		0				0	0
Sub-total		-19,288	2,812	410	0	-16,066	111,587
Other Recognised Gains / (Losses):
Gains/(Losses) Revaluaton of Fixed Assets (Manses)		0				0	0
Gains/(Losses) on Sale of of Fixed Assets (Property)		-400,000	271,281			-128,719	0
Gains/(Losses) on Investment Assets		0	0		0	0	2,248
Other Gains/(Losses)		0	0	0	48	48	0
Net Movement in Funds		-419,288	274,093	410	48	-144,738	113,835
Reconciliaton of Funds:
Total Funds Brought Forward		2,622,836	348,803	1,681	22,500	2,995,820	2,857,982
						0
Total funds Carried Forward	13	2,203,548	622,896	2,091	22,548	2,851,082	2,971,817

The notes on pages 10 to 14 form part of these financial statements.

GLOSSOP AND TAMESIDE METHODIST CIRCUIT BALANCE SHEET

BALANCE SHEET
Tangible Fixed Assets*	Notes	Unrestricted £	Circuit Model Trust Fund £	Restricted £	Endowment Funds £	Totals 2024-2025	Totals 2023-2024 £


Land & Buildings	8	1,895,000				1,895,000	2,295,000
Equipment	8
Investments	9				22,547	22,547	22,500
*Totalfxed assets*		1,895,000			22,547	1,917,547	2,317,500
Current Assets
Debtors & Prepayments
Other
Trustees for Methodist Church Purposes Deposits		72,434	622,895			695,329	418,307
Central Finance Board Deposits	10	121,221				121,221	92,273
Cash at Bank and in hand	10	114,902		2,091		116,993	167,738
*Total current assets*		308,557	622,895	2,091		933,543	678,318
Creditors & Accruals (due in under 1 year)
Net Current Assets (Liabilites)		308,557	622,895	2,091		933,543	678,318
*Total Assets less Current Liabilites*		2,203,557	622,895	2,091	22,547	2,851,090	2,995,818

Loans & Creditors (due afer 1 year)
Provisions for Liabilites & Charges
*Net assets*		2,203,557	622,895	2,091	22,547	2,851,090	2,995,818
Funds of the Circuit
Unrestricted Funds	13	2,203,557	622,895 2,091 22,547			2,203,557	2,622,836
Circuit Model Trust Fund (Unrestricted)	13		622,895			622,895	348,802
Restricted funds	13			2,091		2,091	1,681
Endowment funds	13				22,547	22,547	22,500
*Total Funds*		2,203,557	622,896	2,091	22,548	2,851,090	2,995,819

The notes on pages 10 to 14 form part of these financial statements.

Approved by the Circuit Meeting and authorised for issue on:

H Cook

REVD H COOK - SUPERINTENDENT MINISTER25[th] February 2026

GLOSSOP AND TAMESIDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1.Basis of accounting

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 (FRS 102) issued on 16 July 2014 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 as it applies from 1 January 2015.

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.

2.Funds

The funds held constitute: General Funds held for any purpose of the Circuit which are Unrestricted. The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted. Restricted funds which are held for a narrower purpose. There are also Endowment funds as listed. Details of each material fund are disclosed in the final notes to these accounts. Any funds may be represented by more than just cash.

3.Accounting policies

Income Recognition

Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, the trustees are reasonably certain they will receive the resources, and the monetary value can be measured with sufficient reliability.

Resources Expended

This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources.

Grants

Grants made by the Circuit from its own funds are recognised in full at the time 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 year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.

VAT

Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

Tangible fixed assets for use by the Circuit

"These are capitalised if they can be used for more than one year, and individually cost at least £1.000. Land and buildings value is shown in the accounts at valuation on purchase or as assessed in 2017.

Investment Properties

Investment properties - no property is currently deemed not to be held for the long term purposes of the charity.

Investments

Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA.

Debtors and Prepayments

Debtors include any outstanding assessment payments due and pre-payments for insurance and manse utilities.

Creditors

Creditors include both sundry expenses and ministers stipends, and also specifically the September church assessments received in August each year.

Pension contributions

The Circuit participates in the following pension funds:

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% (2020: 26.9%) of stipend. 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.

GLOSSOP AND TAMESIDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Lay employees’

The Circuit operates a defined contribution pension fund for its lay employees and unless they have opted out, pays employer’s contribution of 6% matched by employees’ contributions of 2%, in accordance with the standing orders of the Methodist Church.

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.

Investment income Unrestricted : Bank interest on CFB account Interest on TMCP funds Interest on Circuit Model Trust Fund Restricted : None	2025 £	2025 £	2024 £
	4,411		10,493

	1,704		1,883

	21,306		20,146

	Nil		Nil

4 Investment income

5 Payment to Trustees

Payments made to trustees for additional services provided to the Circuit by agreement with the Circuit Meeting Number of trustees who were paid expenses Nature of the expenses Total amount paid

		This year	Last year
£		None	None

		None	None



	£	Nil	Nil

6 Fees for examination or audit of the accounts

Independent examiner’s or auditors' fees for reporting on the accounts Other fees (eg: advice, accountancy services) paid to the examiner/auditor

£ £	800		800

	None		none

7 Paid employees

Paid employees
Gross wages, salaries and benefts in kind Employer’s Natonal Insurance costs Pension costs Training costs Apprentceship levy Total staf costs Average number of staf employed during the year : *Staf Costs paid during the year were:* £ £ £ £ £ £
	133,105	112,792
	13,808	9,289
	18,660	19,778

	1,146	1,044
	166,719	142,903

	4	4

GLOSSOP AND TAMESIDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

8 Tangible Fixed Assets

8 Tangible Fixed Assets
Cost or valuaton	Detail of assets held: 3 Manses (See notes below)

	Land £	Manses £	Other buildings £	Other fxed assets including motor vehicles £	Fixtures, ftngs and equipment £	Payments on account and assets under constructon £	Total £
Balance brought forward		2,295,000					2,295,000
Additons
Revaluatons (+/-)
Disposals (-)		-400,000					-400,000
Transfers (+/-)
Balance carried forward		1,895,000					1,895,000
Accumulated depreciaton
Balance brought forward
Depreciaton charge for year (-)
Revaluatons (+/-)
Disposals (-)
Transfers* (+/-)
Balance carried forward
Net book value
Brought forward	-	2,295,000	-		-	-	2,295,000
Carried forward	-	1,895,000	-	-	-	-	1,895,000

GLOSSOP AND TAMESIDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

9. Investments

The funds that support the Circuit Model Trust Fund (and any Manses Funds) are held by TMCP (The Trustees For Methodist Church Purposes) in Trustees Interest Funds on which interest is credited to the accounts each quarter. These are regarded as medium and long term investments.

TMCP is the legal owner and Custodian Trustee of all Methodist Model Trust property, including Legacies, Endowments and Accumulated Funds. Trust property is held for and on behalf of local Managing Trustees who are responsible for the day to day management of trust property. TMCP ensure that, through providing guidance and acting under their direction, the Managing Trustees comply with charity law and Methodist law and policy as determined by the Methodist Conference.

Analysis of endowment investment

Analysis of endowment investment
	This year Previous year
Investments held in TMCP endowment funds		22,500
Other endowment investments	Nil	Nil
Total	22,500	22,500
Change in investment values	22,500 892 845 22,547
Carrying value at beginning of year	22,500
Add:additons to investments (interest/dividends)
Add:revaluatons	892
Less:admin costs & interest paid	845
Carrying value at end of year	22,547

10 Analysis of current assets

Analysis of current assets
Analysis of cash at bank Bank balance held in CFB Bank balance held in Co-op Total Cash and Bank	2025	2024
	121,221	92,273
	116,993	167,738

	238,214	260,011

11 Capital Commitments and Contingent Liabilities

At the 31st August 2025 the Circuit has no capital commitments.

No Contingent liabilities were identified at 31st August 2025

GLOSSOP AND TAMESIDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 13 Detailed analysis of individual fund movements

Unrestricted Funds

Unrestricted Funds
Unrestricted Fund Name	Opening Balance	Income	Expenditure	Transfers	Gains/ (Losses)	Closing Balance	Purpose of the fund
General Account TMCP unrestricted investments)	2,622,835	308,289	327,569		-400,000	2,203,555	Gains/(Losses) from:
CMTF	348,803	21,356	18,544		271,281	622,896

Totals	2,971,638	329,645	346,113		-128,719	2,826,451

Restricted Funds
Restricted Fund Name	Opening Balance	Income	Expenditure	Transfers	Gains/ (Losses)	Closing Balance	Purpose of the fund
Internal Organisatons	1,681	1,463	1,053			2,091	For specifc areas of Circu Place of Welcome	it's local mission:-


Totals	1,681	1,463	1,053		~	2,091

Endowment Name	How the capital is invested			The current value of the capital			Annual income	What the income was used for
TMCP Investments	Various bequests			22,548

	TOTAL Totals			22,548
				2,851,090
				2,851,090

Summary of the Internal Organisations reporting to the Circuit Meeting. Note that the funds of an Internal Organisation would normally be Restricted funds unless it could be clearly shown that they could be used for any Methodist purpose.

Internal Organisatons		Opening balance	Receipts	Payments	Closing balances
Place of Welcome		1,432	1,188	939	1,681
Emmaus		389		389
HelpingHands
Sub-Total		1,821	1,188	1,328	1,681
Transfers from/to General Fund
Transfers from/to CMTF
Transfers from/to other TMCP funds

*Total*	s	1,821	1,188	1,328	1,681

GLOSSOP AND TAMESIDE METHODIST CIRCUIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

14 RELATED PARTY TRANSACTIONS

Ministers

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. Details of stipends paid to ministers who are members of the Circuit meeting are as follows. The following received the basic stipend (£31,227): Revd Rev Robert Balfour and Revd. Hazel Cook. In the previous year, the following received half the basic stipend: Natalie Hackett (until 31/3/24) and the Revd Roger Walton *from 1/3/24 until 31/8/24).

In addition to the basic stipend, the Connexionally agreed Superintendent Minister’s allowance (£3,103) was paid to Revd Hazel Cook.

Other ministers who are resident in the Circuit, for the purposes of the Methodist stations, but not in Circuit appointments or without appointment are also members of the Circuit Meeting but do not receive payment or accommodation from the Circuit, except for preaching fees and expenses as set out above.

There are no other related party transactions.