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2025-08-31-accounts

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

(Charity Registration No. 1158290)

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

For the Year ending 31 August 2025

Circuit Office, Vicarage Street Methodist Church, Middle Street, Yeovil, Somerset BA20 1JZ

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

CONTENTS

Page
Trustees' report 1 - 8
Independent examiner's report 9
Statement of financial activities 10 - 11
Balance sheet 12
Notes to the financial statements 13 - 27

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

1. Superintendent’s annual report on the Circuit’s

achievements and performance

As a circuit, we have been exploring working closer with all of the adjoining circuits. This work culminated in a decision to transfer four churches out of the Yeovil and Blackmore Vale Circuit on 1 September 2024.

We have been in conversations with the Dorset South and West Methodist Circuit regarding our remaining four churches. The hope was that a merger between the two circuits would be agreed on. This work has proved fruitful and at the Southampton District Synod on 5 April 2025, the merger was agreed and accepted with effect from 1 September 2025.

Two manses were transferred to the Salisbury Circuit. The remaining church section of Yeovil and Blackmore Vale Methodist Circuit has been merged with the adjacent Circuit, Dorset South and West with effect from 31 August 2025 when all remaining properties and other assets and liabilities were transferred. This circuit is therefore closed.

Throughout the whole of the year we had a full staff team comprising of 2 Methodist Presbyters.

In addition, we were very fortunate to have 6 Supernumerary Ministers, 4 of whom were active. There are 7 active Local Preachers with two in training.

Within the Circuit we had 2 Lay employees; both of whom are employed by the Circuit, one is our Circuit Administrator whilst the other is the co-ordinator of our POD group in Sherborne. We have reviewed our work and the work that our employees are doing as well as adjusting their working hours where necessary.

In terms of our set-up this circuit had 4 societies worshipping and using 6 buildings at the start of our year. However, we are still in the process of selling the 2 buildings which closed in the previous Church Year.

Our Mission Statement is ‘To know God’s love; to show God’s love; to share God’s love’ and so our aim is to work to this statement and support all of our societies and be proactive in a way which provides leadership and pastoral support to each, and to ensure that regular worship, fellowship and mission is carried out.

In line with the purposes of this charity we have worked over this last year to advance the Christian faith and fulfil our charitable status through:

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Amongst the work of 2024-2025 the discernment within the Yeovil Methodist Church’ is still on-going as it continues its missional work and worship, whilst exploring the viability of its two buildings. In a local Church Council meeting on 2 July 2025 the decision was made to give the responsibility for the Quedam building be given to the new circuit and YMC concentrate on work in that own building. The ecumenical work across the circuit with all the local churches continues to work well.

We are very grateful to all our members of staff, lay and ordained and to all of our volunteers for all of their prayerful dedication to their callings to serve in this Circuit in the Lord’s name. As we bring this circuit to a close we look forward to a new start with the Dorset South and West Circuit which will provide opportunities to serve the Lord in a fruitful way and that any challenges can be faced together.

Revd Lin Francis Superintendent Minister and Chair of the Trustees

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

2. Objectives and activities

2.1 Mission

In setting our objectives and planning our activities, the Circuit Meeting trustees (under the Chair of the Superintendent Minister), who meet quarterly, have given careful consideration to the Charity Commissioners’ general guidance on public benefit and, in particular, to its supplementary public benefit guidance on advancing our objectives, conforming with the Charities Act 2011.

Our mission is to be a powerful spiritual influence in the geographic area covered by the Circuit and a visible expression of God’s inclusive love. Our Mission Statement is:“To know God’s Love

To Show God’s Love

To share God’s Love”

We aim to achieve this by encouraging, through the members and adherents of churches in our Circuit, the worship, social, and outreach activities that currently exist, and by seeking new ways to extend to others the fellowship of the church family.

We aim to build a Circuit formed for mission and full of generous people who are prepared to work, and develop, to build God’s kingdom in this place. We share a common passion to use our gifts, graces and resources to the best of our abilities to be mission-shaped followers of Jesus Christ.

2.2 Purpose and activities of the Circuit

The Circuit is an expression, over a wider geographical area than any individual Church, of the Connexional character of the Methodist Church. The purposes of the Methodist Church are and shall be deemed to have been since the date of the union the advancement of:

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

The primary purpose of this Circuit is to advance the mission of the Methodist Church within the geographical area defined by the churches within Yeovil and Blackmore Vale:

The Circuit's primary activity to meet this purpose is "Circuit Ministry" - that is, the provision of a team of ministers and lay employees to deliver ministerial and families’ support to all of the churches in the Yeovil and Blackmore Vale area.

All of the costs incurred to support this Circuit Ministry activity are met by the Circuit – including all staff salaries (“stipends” for ministers) and expenses, and the provision of manse housing for ministers – the Circuit is responsible for manse maintenance, phone/broadband, water, and council tax costs. The Circuit raises funds from each of the Circuit churches through an assessment regime, and, together with its other income sources, these funds are used to pay for its Circuit Ministry and other activity costs. In turn, the Circuit is assessed by the District on the size of its ministry team and pays monthly charges which fund District and central Connexion costs.

Apart from Circuit Ministry, the Circuit’s other activities are: - the award and administration of grants to Circuit churches and external bodies as appropriate and as directed by the Circuit Meeting

The Circuit serves the local churches, its District, and the Methodist Conference in the support, deployment and oversight of the various ministries of the Methodist Church, and in programmes of training.

2.3 Circuit policy

Our Policy is to: -

Following the move of four churches into new circuits from September 2024. The remaining churches have moved into Dorset South and West Circuit from September 2025 and the Yeovil Circuit will close.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

3. Financial review

3.1 Circuit financial position at the end of FY 2024-25

Key points

During the year the Circuit received total income of £146k (FY 2023-24: £1,103k) and dispersed £2,918k (FY 2023-24: £555k). All assets and liabilities had been transferred to other circuits at the year-end so the balance carried forward was £Nil.

4. Structure, governance and management

4.1 Governing documents and constitution

The Circuit is an unincorporated association and is governed by the Methodist Church Act 1976, the Deed of Union (1932) and the Model Trust Deeds of the Methodist Church and was registered with the Charity Commissioners on 19 August 2014.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Reference and Administrative Details

Name of the charity

Yeovil and Blackmore Vale Methodist Circuit

Charity registration number

1158290 Registered in England and Wales

Principal office

Circuit Office c/o Vicarage Street Methodist Church Middle Street Yeovil BA20 1JZ 01935 432173 (answerphone available) www.yandbvcircuit@gmail.com

Superintendent Minister

Revd Lin Francis

Circuit Administrator

Mrs Helen Coombes

Circuit Treasurer

The Circuit finances are the responsibility of the Yeovil & Blackmore Vale Circuit Stewards. They have employed a Bookkeeper to enable them in this task.

Names of trustees

All voting Members of the Circuit Meeting are trustees. The list of trustees serving from 1 September 2024 through to June 2026 is given in Appendix A.

Bankers

Lloyds Bank plc Central Finance Board of the Methodist Church Business Banking 9 Bonhill Street BX1 1LT London EC2A 4PE

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Investment managers and custodian trustees

Trustees for Methodist Church Purposes Central Buildings Oldham Street Manchester M1 1JQ

Independent Examiner

(First appointed: 23[rd ] March, 2021, last reappointed: 19 June 2024):

Frances Wilde FCCA MBA(Open) DChA PgDip Director Warner Wilde Limited Chartered Certified Accountants and Registered Auditors 4 Marigold Drive Bisley Surrey GU24 9SF Registered in England No. 6923262

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

We confirm that the Trustees’ Annual Report and the Financial Statements (Statement of Financial Activities, Balance Sheet and supporting Notes) were agreed to be approved by email by Trustees at the Circuit Meeting held on 18 June 2026. Email approval was received on ………………….. 30/06/2026

Revd Lin Francis

Revd Lin Francis (Jun 30, 2026 13:54:53 GMT+1) ~~……………………~~

SA Watson

~~…………………..~~ SA Watson (Jun 30, 2026 18:33:30 GMT+1)

~~…………………..~~

Rev Lin Francis Chair of Circuit Meeting Date:

Mr Stephen Watson Circuit Steward Date:

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

I report to the trustees on my examination of the financial statements of Yeovil & Blackmore Vale Methodist Circuit (the charity) for the year ended 31 August 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (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 the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

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 financial statements to be reached.

Frances Wilde FCCA DChA

Warner Wilde Limited Chartered Certified Accountants 4 Marigold Drive Bisley Surrey GU24 9SF Date: ............................01/07/2026

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Current financial year
Unrestricted
Unrestricted
Restricted
Total
funds
funds
funds
general
CMT
2025
2025
2025
2025
Notes
£
£
£
£
Income and endowments from:
Donations and legacies
3
-
-
-
-
Charitable activities
4
105,455
-
-
105,455
Investments
5
14,096
26,529
218
40,843
Other income
6
-
-
-
-
Total income
119,551
26,529
218
146,298
Expenditure on:
Raising funds
7
657
1,982
15
2,654
Charitable activities
8
1,951,515
1,021,773
4,765
2,978,053
Total expenditure
1,952,172
1,023,755
4,780
2,980,707
Net gains/(losses) on
investments
14
33,801
(6)
-
33,795
Net income/(expenditure)
(1,798,820)
(997,232)
(4,562)
(2,800,614)
Transfers between funds
(389,197)
389,197
-
-
Net movement in funds
11
(2,188,017)
(608,035)
(4,562)
(2,800,614)
Reconciliation of funds:
Fund balances at 1 September 2024
2,188,017
608,035
4,562
2,800,614
Fund balances at 31 August 2025
-
-
-
-		 Total
2024
£
227
202,125
23,763
877,188
1,103,303
25,447
529,208
554,655
(85,136)
463,512
-
463,512
2,337,102
2,800,614

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Prior financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
CMT
2024
2024
2024
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
227
-
-
Charitable activities
4
202,125
-
-
Investments
5
12,438
11,091
234
Other income
6
-
877,188
-
Total income
214,790
888,279
234
Expenditure on:
Raising funds
7
25,285
150
12
Charitable activities
8
236,076
293,132
-
Total expenditure
261,361
293,282
12
Net gains/(losses) on investments
14
(85,395)
259
-
Net income/(expenditure)
(131,966)
595,256
222
Transfers between funds
40,000
(40,000)
-
Net movement in funds
11
(91,966)
555,256
222
Reconciliation of funds:
Fund balances at 1 September 2023
2,279,983
52,779
4,340
Fund balances at 31 August 2024
2,188,017
608,035
4,562		 Total
2024
£
227
202,125
23,763
877,188
1,103,303
25,447
529,208
554,655
(85,136)
463,512
-
463,512
2,337,102
2,800,614

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

BALANCE SHEET

AS AT 31 AUGUST 2025

2025
Notes
£
£
Current assets
Debtors
17
4,712
Investments
18
2,451,384
Cash at bank and in hand
53,939
2,510,035
Creditors: amounts falling due within
one year
19
(2,510,035)
Net current assets
-
The funds of the charity
Restricted income funds
21
-
Unrestricted funds - general
23
-
Unrestricted funds - CMT
22
-
-		 2024
£
£
24,166
2,692,393
114,459
2,831,018
(30,404)
2,800,614
4,562
2,188,017
608,035
2,800,614		 2024
£
£
24,166
2,692,393
114,459
2,831,018
(30,404)
2,800,614
4,562
2,188,017
608,035
2,800,614
4,562
2,188,017
608,035
2,800,614

The financial statements were approved by the trustees on .........................30/06/2026

Revd Lin Francis

Revd Lin Francis (Jun 30, 2026 13:54:53 GMT+1) ~~..............................~~ Rev Lin Francis Chair of Circuit Meeting Trustee

SA Watson

. ~~............................~~ SA Watson (Jun 30, 2026 18:33:30 GMT+1) Mr Steve Watson Circuit Steward Trustee

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Yeovil & Blackmore Vale Methodist Circuit is an unincorporated charity.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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 (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s) below. The accruals basis has been used and trustees present accounts that show a true and fair view of the Circuit’s financial position and activities. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.4 Income

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

The Circuit acts as agent in two matters:

The transactions relating to these matters are not reflected in the Circuit's transactions in the SOFA. Instead, they are shown on the SOFA as “Offerings/Gifts received for, and passed to, External Organisations”, details of which are disclosed in these Notes.

Gift Aid receivable is included as income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be a part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

No attempt has been made to measure the value of services donated by volunteers.

Grants received by the Circuit for Circuit purposes from external sources (including Connexional and/or District grants) are shown as income. The Circuit has received no performance-related grants.

Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate, and any conditions attached to the legacy are either within the control of the Circuit or have been met.

1.5 Expenditure

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.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Grants made by the Circuit from its own funds are recognised in full when the award is made once the Circuit accepts that there is a legal or constructive obligation to make the payment and that such payment is probable. When such a 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 (split between monies due in the following financial year and monies due in the longer term), the Provision being released in future years as instalments are paid within the terms originally agreed by trustees at the Circuit Meeting. No grants have been made with performance conditions attached.

The Circuit is required to provide accommodation for each Minister and their families. The Circuit bears the cost of repairs, maintenance, building insurance, Council Tax and water charges. These costs are not shown separately as benefits-in-kind for Ministers as HMRC does not seek to tax these receipts in the hands of the Ministers.

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

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Creditors are initially recognised at settlement amount after any trade discounts, where normal credit terms apply, or amount advanced to the Circuit. Subsequently creditors that are current liabilities are measured at the cash or other consideration expected to be paid. The liquid funds of bank balances and deposit account balances are shown at the realisable values.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

3 Income from donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and gifts - 227
4 Income from charitable activities
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Charitable Activities
Assessments on churches 99,144 158,462
Charitable rental income 6,201 17,508
Other income 110 26,155
105,455 202,125

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

5 Income from investments

Unrestricted Unrestricted Restricted Total Unrestricted Unrestricted Restricted Total
funds funds funds funds funds funds
general CMT general CMT
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £
Other income 14,096 26,529 218 40,843 12,438 11,091 234 23,763

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

6 Other income

Unrestricted Unrestricted
funds funds
CMT CMT
2025 2024
£ £
Net gain on disposal of tangible fixed assets - 877,188

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

7 Expenditure on raising funds

Unrestricted Unrestricted Restricted Total Unrestricted Unrestricted Restricted Total
funds funds funds funds funds funds
general CMT general CMT
2025 2025 2025 2025 2024 2024 2024 2024
£ £ £ £ £ £ £ £
Fundraising and publicity
Investment management costs 657 1,982 15 2,654 25,285 150 12 25,447

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

8 Expenditure on charitable activities

Direct costs
Staff costs
Connexional assessment and model trust levy
Property maintenance
District assessment and levy
Levy on property sale
Other outgoings
Grant funding of activities (see note 9)
Share of support and governance costs (see note 10)
Support
Governance
Analysis by fund
Unrestricted funds - general
Unrestricted funds - CMT
Restricted funds
Grants payable
Grants to institutions:
Given to churches and projects
Other		 Chariable
activities
2025
£
105,960
67,021
8,277
5,690
151,035
4,584
342,567
2,583,612
37,078
14,796
2,978,053
1,951,515
1,021,773
4,765
2,978,053
Chariable
activities
2025
£
2,602,963
(19,351)
2,583,612		 Chariable
activities
2024
£
142,223
54,101
8,537
9,979
278,875
1,500
495,215
525
30,148
3,320
529,208
236,076
293,132
-
529,208
Chariable
activities
2024
£
12,937
(12,412)
525

9 Grants payable

The Circuit also acts as an agent for its churches in order to consolidate charitable giving to other charities and related parties. Churches send payments to the Circuit with specific directions concerning to which charities/related parties they should be paid. In the current financial year £1,364 was received as agent and passed over to the relevant parties.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

10 Support costs allocated to activities

Office expenses
Utilities and council tax
Insurance
Travel
Telephone
Governance costs
Analysed between:
Chariable activities
Governance costs comprise:
Audit fees
Legal and professional
Independent examiner
Bank fees
The audit fees relate to an underaccrual for the 2024 audit.
11
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Loss/(profit) on disposal of tangible fixed assets		 2025
2024
£
£
3,693
5,546
21,426
12,644
4,752
2,769
6,085
7,652
1,122
1,537
14,796
3,320
51,874
33,468
51,874
33,468
2025
2024
£
£
6,690
-
6,278
1,508
1,710
1,710
118
102
14,796
3,320
2025
2024
£
£
1,710
1,476
-
(877,188)

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

12 Trustees

In the year, trustees Rev Lin Francis and Rev Kate Konrad received gross stipends of £65,142 (2024: £90,024, 3 ministers), computer allowances of £414 (2024: £582), pension contributions of £11,891 (2024: £23,435) for their roles as ministers in the year. The circuit paid £7,656 (2024: £8,743) in employers national insurance contributions.

Trustees Lynn Heaton and Helen Coombes received remuneration from the Circuit for their employment in the year. This is in accordance with Law and Standing Order 314 as detailed by the governing documents. The remuneration included gross wages of £17,474 (204: £16,999), employers pension contributions of £618 (2024: £461) and employers national insurance contributions of £670 (2024: £85)

None of the above are deemed to be paid on terms preferential to those that would be accorded to a member of the public with the same qualifications or experience.

The Circuit has a policy that all trustees may claim for appropriate expenses in the course of their duties on behalf of the Circuit. Some of the Circuit's supernumeraries and just one other volunteer trustee claimed and received travel expense payments in relation to their travel on Circuit business. In the current financial year, 3 trustees (2024: 4) received reimbursement of travel, office costs and supernumerary preaching fees totalling £2,509 (2024: £2,596).

13 Employees

The average monthly number of employees during the year was:

Ministers
Lay employees
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
2
2
4
2025
£
85,125
8,326
12,509
105,960		 2024
Number
3
2
5
2024
£
109,498
8,829
23,896
142,223

There is no accrual for holiday pay as it is immaterial; the holiday year ends on 31 August. All staff are paid at or above the living wage.

The two part time lay employees were engaged as follows: Administrator and POD Co-ordinator.

There were no employees whose annual remuneration was more than £60,000.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

13 Employees

(Continued)

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

2025 2024
£ £
Aggregate compensation 91,621 123,238

14 Gains and losses on investments

Unrestricted Unrestricted
funds
funds
general
CMT
2025
2025
Gains/(losses) arising on:
£
£
Revaluation of
investments
-
(6)
Sale of investments
11,601
-
Revaluation of investment
properties
22,200
-
33,801
(6)		 Total
Unrestricted Unrestricted
funds
funds
general
CMT
2025
2024
2024
£
£
£
(6)
(63,195)
259
11,601
-
-
22,200
(22,200)
-
33,795
(85,395)
259		 Total
2024
£
(62,936
-
(22,200
(85,136

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

16 Financial instruments

16
Financial instruments
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
17
Debtors
Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2025
£
2,451,384
2025
£
2,483
2,229
4,712		 2024
£
2,692,393
2024
£
-
24,166
24,166

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

18 Current asset investments

Current asset investments
2025 2024
£ £
Investments held with TMCP 2,451,384 2,692,393

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.

The funds that support the Circuit Model Trust Fund, ‘Trim Bequest’ and ‘Cluett Bequest’ are held by TMCP. Interest and other income is credited to the accounts each month. These are regarded as medium and long term investments. These are all Model Trust funds. Funds can be withdrawn on demand subject to Circuit Meeting approval, and subject to approval by TMCP to ensure that funds withdrawn are used for Model Trust purposes in accordance with Methodist Church rules.

Monies held in the Bequest for Women's Work are similarly available as above but are restricted and can only be used by the Circuit's Methodist Women in Britain group in line with their aims and objectives.

19 Creditors: amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income
20
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
-
2,499,075
10,960
2,510,035
2025
£
12,509		 2024
£
12,237
8,006
10,161
30,404
2024
£
23,896

Most ordained presbyters and deacons are members of the Methodist Ministers’ Pension Scheme (MMPS). This is a defined benefit scheme. The Supreme Court held in 2014 that Methodist ministers (which term includes presbyters and deacons) are not employees of the Church. For simplicity, however, when dealing with National Insurance Contributions and pension contributions, the terms ‘employer’ and ‘employee’ are used as they would be in an employing body.

On the other hand lay employees are contractually employees. In this District, as at 31 August 2024, one employee was enrolled in the The Pensions Trust pension scheme.

The Connexion accounts for the MMPS and shows the figures in the annual Methodist Church in Great Britain accounts.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources At 31 August
September resources expended 2025
2024
£ £ £ £
Bequest for women's work 4,562 218 (4,780) -
Previous year: At 1 Incoming Resources At 31 August
September resources expended 2024
2023
£ £ £ £
Bequest for women's work 4,340 234 (12) 4,562

22 Unrestricted funds - CMT

These are unrestricted funds which are material to the charity's activities.

At 1
September
2024
Incoming
resources
Resources
expended
£
£
£
608,035
26,529
(1,023,755)
Previous year:
At 1
September
2023
Incoming
resources
Resources
expended
£
£
£
52,779
888,279
(293,282)		 Transfers
Gains and
losses
At 31 August
2025
£
£
£
389,197
(6)
-
Transfers
Gains and
losses
At 31 August
2024
£
£
£
(40,000)
259
608,035

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

23 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
September
2024
Incoming
resources
Resources
expended
£
£
£
General funds
2,188,017
119,551
(1,952,172)
Previous year:
At 1
September
2023
Incoming
resources
Resources
expended
£
£
£
Wincanton
children's work
334
-
-
General funds
2,279,649
214,790
(261,361)
2,279,983
214,790
(261,361)		 Transfers
Gains and
losses
At 31 August
2025
£
£
£
(389,197)
33,801
-
Transfers
Gains and
losses
At 31 August
2024
£
£
£
-
-
334
40,000
(85,395)
2,187,683
40,000
(85,395)
2,188,017		 Transfers
Gains and
losses
At 31 August
2025
£
£
£
(389,197)
33,801
-
Transfers
Gains and
losses
At 31 August
2024
£
£
£
-
-
334
40,000
(85,395)
2,187,683
40,000
(85,395)
2,188,017
2,188,017

24 Analysis of net assets between funds

Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
CMT
2025
2025
2025
£
£
£
At 31 August 2025:
-
-
-
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
CMT
2024
2024
2024
£
£
£
At 31 August 2024:
Investments
(3,802)
3,802
-
Current assets/(liabilities)
2,191,819
604,233
4,562
2,188,017
608,035
4,562		 Total
2025
£
-
Total
2024
£
-
2,800,614
2,800,614

25 Related party transactions

There were no disclosable related party transactions during the year (2024 - none) other than as in note 12.

YEOVIL & BLACKMORE VALE METHODIST CIRCUIT

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

26 Analysis of changes in net funds

The charity had no material debt during the year.

APPENDIX A Trustees

Trustees

The members of Yeovil and Blackmore Vale Methodist Circuit meeting are the charity trustees. Membership is made up from circuit office holders, ministers and representatives appointed by the local churches. The following were managing trustees from 1 September 2024 to 29 June 2026:

Revd Linda Francis (Superintendent) Revd Kate Konrad Revd Christina Le Moignan (Supernumerary) Revd Margaret Oxenham (Supernumerary) Revd Judy Turner-Smith (Supernumerary) Revd Soon Cheol Choi (Supernumerary)

Circuit Stewards

Mr Stephen Watson Mrs Janet English (Senior Steward)

Other Appointments

Mr Philip Butler (Property Secretary) (to 31/8/2025) Mr Colin Farrant (Local Preachers’ Tutor) Mrs Beth Fox (Safeguarding Officer) Revd Judy Turner-Smith * (LP&WL Secretary)

Representatives

Mrs Margaret Evans Mr George Faris (to 31/8/2025) Mrs Susan Way (to 31/8/2025) Mrs Beth Fox * Mr Geoff Gardner Mr Mark Parsons Mrs Gillian Walsham Mr Hayden Williams (to 31/8/2025) Miss Sarah James (to 31/8/2025) Mrs Anne Cook *** Already a member in another capacity**