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← Airedale Methodist Circuit

2023-08-31-accounts

Charity Number: 1160063

Airedale Methodist Circuit

T Annual Report and Financial Statements

for the Year Ended 31 August 2023

Airedale Methodist Circuit

Contents

Page
Charity Information ............................................................................................ 1
...................................................................................... 2
Independent Examiner
............................................................................ 7
Statement of Financial Activities ........................................................................... 8
Balance Sheet .................................................................................................... 9
Notes to the Financial Statements ...................................................................... 10

Airedale Methodist Circuit

Charity Information

Reference and Administrative Information

Circuit Number: 27/31
Charity Registration Number: 1160063

The Circuit comprised the following churches at 31 August 2023:

Aire Valley (including Bingley, Ilkley Road and Long Lee congregations); Cononley (LEP); Craven (Cross Hills, Eastburn, Silsden and Steeton congregations - Cowling having just ceased to meet); Cullingworth; Eldwick (LEP); Marsh; and Worth Valley (including Lees, Oakworth, Oxenhope and Keighley congregations).

Circuit Staff:

Ordained:

Superintendent Minister: Rev Clare Stainsby Ministers: Rev Helen (Nel) Shallow Rev Terry Keen (resigned August 2023) Rev Tracy Birks (appointed September 2023) Lay: Church Workers: Glenda Coogan Pippa Lupton (appointed October 2022) Chris Partington (appointed September 2023) New Places for New People Pre-Loved Project Worker: Sarah McDonald-Howard (appointed September 2023) Circuit Administrator and Communications Officer: Esther Gregory-Witham Finance Officer: Edwin Tate Trustees: The Circuit Meeting members are the Trustees of the Charity (listed in Note 18). Circuit Stewards: Claire Corp Pam Helyar Peter Howarth Graham Iliff Circuit Safeguarding Officer: Mrs Eileen Jowitt (resigned September 2023) c/o Rev Clare Stainsby and Esther Gregory-Witham (from September 2023) Circuit Treasurer: Mr Graham Iliff Circuit Office : Silsden Methodist Church c/o 80 Kirkgate Silsden Keighley BD20 0PA Independent Examiner : Jessica Lawrence FCA CTA Azets Audit Services Limited 12 King Street Leeds LS1 2HL

1

23

Airedale Methodist Circuit

Structure, Governance and Management

The financial statements have been prepared in accordance with the accounting policies set out in the 2011 and Accounting and Reporting by Charities: 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.

The Governing Document: Deed of Union (1932) and Methodist Church Act (1976)

Constituted: Act of Parliament Selection of Trustees: Appointed by local churches and existing trustees Ministers are ex officio trustees Structure: Part of the Yorkshire West District of the Methodist Church Accountable to the Methodist Conference

Vision and Objectives

Our Vision and Purpose

Worship

in the Bible and in the world today.

Learning and Caring

The Church exists to help people to grow and learn as Christians, through mutual support and care.

Service

The Church exists to be a good neighbour to people in need and to challenge injustice.

Evangelism

The Church exists to make more followers of Jesus Christ.

of God.

of the world.

Objectives:

As stated in the Governing Document, the purposes of the Methodist Church are the advancement of:

2

Airedale Methodist Circuit

Structure and Decision Making

The Circuit Meeting is meets in autumn and spring and elsewhere as needed.

The Circuit Leadership Team (CLT), comprising the Ministers, Lay Workers and Stewards, are the Their work includes guiding the instructions of the Circuit Meeting, and discharging its responsibilities in areas that include worship, mission, finance, property, staffing, employment and safeguarding. The CLT has delegated authority such as to approve urgent property repairs, and itself delegates tasks to individual or groups of staff and volunteers, such as the Circuit Property Group.

The responsibilities of the Circuit Stewards include:

The Circuit staff meet regularly and work as a team sharing responsibilities across the Circuit. The Ministers and Church Workers have pastoral charge of different churches.

Risk Management

The Trustees have examined the major strategic and operational risks facing the Circuit and have established the necessary systems to manage or mitigate these risks.

Public Benefit

Airedale Methodist Circuit carries out a range of activities in pursuance of its mission. The Circuit will use resources for mission-based projects. These may be paid by the charity in the form of grants to external parties. The Trustees consider that the activities, summarised below, provide benefit to those who are members of the Circuit through the local Methodist churches and to the wider community.

Achievements and Performance

Faith and Outreach

Regular worship was supported across the Circuit. In the 3 newer churches with multiple sites and congregations, shared services helped bring vibrancy and closer relationships, alongside the many opportunities to worship locally. Circuit events such as the Carol Service in the Barn enabled everyone God. Fresh Aire, offered stimulating online reflections via Facebook to help people engage, explore and journey in faith. Worship was regularly streamed from Oakworth to reach those who were unable to meet in person.

3

Airedale Methodist Circuit

Achievements and Performance (continued)

Pastoral care was given by ministers, lay workers and church support networks as the outworking of everyone. Training was offered in Equality, Diversity and Inclusion as well as in safeguarding to help foster a culture of safety, respect and welcome for all. Baptisms, weddings and funerals supported church and local community members at times of particular need and supportive context of a faith community.

-Loved was selected as one to encourage new people to encounter God and take a step of faith. This will bring significant funding from 2023-26 to help grow a new worshipping community supported by a dedicated staff member. In March 2023, the Pre-Loved shop in celebrated its first year of selling secondproviding a Christian witness to families who often have no other church contact. The warm and gentle welcome from volunteers and staff, who follow a daily worship pattern, enabled informal faith conversations to flourish and relationships grew to the point where the team received requests for prayer and even a baptism, with occasional opportunities to meet together.

The pay-as-you-can Welcome Café, also in Keighley, helped those struggling with hunger and social isolation, and the Bingley Foodbank saw generous donations alongside a significant increase in demand with 540 clients fed from January to April 2023 compared with 334 in 2022, as the cost of living crisis took its toll. Several churches offered Warm Spaces, providing food, shelter and company.

People and property

Ministers, Lay Employees and Volunteers

The Circuit welcomed Pippa Lupton to the staff team as a Church Worker, and at the end of the year thanked Reverend Terry Keen who retired from his role as a Circuit Minister.

The Circuit and its staff continued to be very well supported by a dedicated team of volunteers including Circuit Stewards, church representatives, local preachers, Pre-Loved shop workers and many others The Circuit Administrator and Communications Officer worked with one volunteer to build a new Circuit website with new logos, to link with Church, Pre-Loved and Fresh Aire Facebook pages to enhance publicity alongside the excellent weekly and monthly emailed notices.

Property matters

The sale of Haworth Methodist Church completed early in the year but the income from the proceeds

Following prayerful consideration and professional advice, it was decided to cease worship permanently celebration gave thanks to God for the life and witness that it had supported, and the congregation remain part of Worth Valley Church.

newer, smaller church property in Keighley as a replacement for Exley Head, to be a home for New Places for New People Pre-Loved project and a base for mission and outreach.

Church decided to cease to meet and the property (except for the separate graveyard) was handed over to the Circuit, while a special service celebrated its life and witness. Circuit Meeting also approved whose congregation remain part of Worth Valley Church. Preparations continued towards the sale via

In accordance with our accounting policies, these properties were not accorded a value in the 2022-23 accounts but will be included in future years once the relevant conditions are met.

4

Airedale Methodist Circuit

Achievements and Performance (continued)

including its manses and rented properties, and to offer assistance to churches. The tenants moved out of the Lees manse and this was prepared for the arrival of the new minister. The Silsden manse was vacated, with approval given to rent it out.

Financial Review

The Statement of Financial Activities shows net expenditure after recognised gains for the year of £70,024 (2022 net income of £299,258) and the total reserves at 31 August 2023 stand at £2,042,962 (2022 - £2,112,986). But these raw figures include the finances of Bingley Foodbank, Exley Head and Keighley, as well as various sale and purchase costs. If these and other transactions that fall beyond the regular operation of the Circuit were excluded, the Circuit would be seen to be running a slightly lower deficit (on one calculation in the region of £57,000, compared with around £74,000 in 2022) that is being funded from sale proceeds.

rental income and some New Places for New People grant funding. The principal items of expenditure were the employment and (where applicable) accommodation costs of the ministers and lay workers, alongside Connexional and District Assessments, and operating costs. Oakworth repaid all of the remaining £10,000 outstanding balance on its loan during the year.

was lower again than the previous year as many churches struggled with falling numbers and increasing costs. However, the planned sales of the Exley Head and Cowling church properties will in time significantly boost cash reserves and enable new opportunities for mission, and the Circuit still has a couple of manses that are not being used for ministers. It nevertheless remains a priority to continue to monitor the financial position.

The Tru free reserves (unrestricted funds not committed or invested in fixed assets) running costs. For the year ended 31 August 2023, these costs were £163,618 and the free reserves were £614,111 (2022 - £673,170). £195,200 of this was needed to purchase The New Place after the year-end, with a further £35,000 budgeted for preparation costs. This left a further £383,911 of free reserves which, by themselves, would sustain the Circuit for around 14 months based on 2022the forecast expenditure for 2023-24. The total revenue budget deficit is anticipated to rise from around £57,000 in 2022-23 to around £121,000 in 2023-24, largely owing to the greater staffing levels needed to drive . The Circuit will need to draw on all its current reserves and future property sale proceeds to sustain such deficits. The reserves policy will be reviewed annually.

Fundraising

We strive to achieve the highest fundraising standards and we value our supportive funders. We stay up to date with developments in Charity regulation, data protection and the Fundraising Preference Service (FPS) to make sure we are legally compliant and adhering to all guidelines. We

After the Year End

A Circuit service was held to welcome our new staff: Rev Tracy Birks as minister; Chris Partington as Church Worker; and Sarah McDonald-Howard as Pre-Loved Gathering Pioneer and Shop Manager. At the start of the year, Cullingworth joined Aire Valley Church.

The staff team and Circuit Stewards worked hard to prepare the foundations for developing a the creation of the three multi-congregation Churches. Bright Hope for Tomorrow was launched, with regular newsletters to inform and inspire while exploring how to grow worshipping communities that would remain future generations. A key administrative burdens such as property management.

5

Airedale Methodist Circuit

After the Year End (continued)

The Circuit leased a second, adjacent retail unit for the Pre-Loved shop, attracting visitors with a much more vibrant and appealing space with a greater range of stock. The exciting plans for the use of The

Circuit Meeting approved the sale of the former Cowling Methodist Church and while most of these forthcoming sales will be some way off, the sale of Keighley Methodist Hall to the Anglican Church neared completion. Good progress was also made towards letting out the Silsden manse.

The Circuit approved an environmental policy and encouraged a focus on ecological sustainability, with many churches achieving their bronze or silver Eco Church awards. This aligns with District priorities

Trustees Responsibilities

accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 affairs of the Charity and of the net income or net expenditure of the Charity for that period. In preparing those financial statements, the Circuit Meeting has:

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 the Charities Act 2011 and the applicable Charities (Accounts and Reports) 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.

Approved on 27 February 2024 and signed on behalf of the Circuit by:

Reverend Clare Stainsby

Superintendent Minister and Chair of Trustees

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Airedale Methodist Circuit

In Report to the Trustees of Airedale Methodist Circuit

I report to the trustees on my examination of the financial statements of Airedale Methodist Circuit for the year ended 31 August 2023.

This report is made solely to the Charity's Trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my independent examination work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the Charity trustees you are responsible for the preparation of the accounts in accordance with the

I report in respect of my examination of the Charity 2011 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.

This report, including my statement, has been prepared for and only for the Charity body. My work has been undertaken so that I might state to the Charity

extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity made.

Since the Charity in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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.

Jessica Lawrence FCA CTA

Azets Audit Services Limited 12 King Street Leeds LS1 2HL

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Airedale Methodist Circuit

Statement of Financial Activities for the Year Ended 31 August 2023

Unrestricted Funds Unrestricted Funds Unrestricted Funds
Circuit Total
General Model Trust Designated Restricted Endowment Total funds funds
Note Fund Fund Funds Funds Funds 2023 2022
£ £ £ £ £ £ £
Income from:
Donations
Assessment or Share 186,615 - - - - 195,807 199,739
Donations from congregations - - 9,192 - - 9,192 -
Sale of chapel - - - - - - 417,564
Charitable activities
Grants - - - 3,000 - 3,000 8,000
Bingley Foodbank - - - 11,349 - 11,349 11,648
Other income 1,128 - 2,650 - - 3,778 5,676
Transfer from circuit church - - - - - - 60,658
Other trading activities
Lettings 16,495 - 3,180 - - 19,675 25,625
Investment income 10,395 12,419 938 1,156 - 24,908 2,254
Total income 214,633 12,419 15,960 15,505 - 258,517 731,164
Expenditure on:
Charitable activities:
Stipends and salaries 2 149,789 - - 3,000 - 152,789 164,332
District Assessments 54,360 - - - - 54,360 56,332
Administration and travel 11,091 1,630 - - 12,721 16,641
Insurance and utilities 14,661 - 9,319 - - 23,980 29,767
Circuit property expenditure 19,717 - 23,950 - - 43,667 78,045
Other expenditure 11,823 - 5,636 - - 17,459 14,803
Grants payable 10 - - 2,330 - - 2,330 4,656
Contributions to District
Advance Fund		 - - - - - - 894
Bingley Foodbank - - - 16,233 - 16,233 3,620
Independent examination 3,696 - - - - 3,696 3,468
Total expenditure 265,137 1,630 41,235 19,233 - 327,235 372,558
Net income /(expenditure)
before other recognised gains		 4 (50,504) 10,789 (25,275) (3,728) - (68,718) 358,606
Realised and unrealised gains on
investments - - (521) - (785) (1,306) (3,216)
Losses on disposal of fixed assets - - - - - - (56,132)
Transfers between funds 11 (354,358) 335,014 20,500 (1,156) - - -
Net movement in funds (404,862) 345,803 (5,296) (4,884) (785) (70,024) 299,258
Funds brought forward 11 1,813,854 63,159 171,600 23,594 40,779 2,112,986 1,813,728
Funds carried forward 11 1,408,992 408,962 166,304 18,710 39,994 2,042,962 2,112,986

The notes on pages 10 to 21 form part of these financial statements.

A detailed Statement of Financial Activities for the year ending 31 August 2022 is shown at note 20.

There were no recognised gains and losses for 2023 and 2022 other than those included in the Statement of Financial Activities.

8

Airedale Methodist Circuit

Balance Sheet as at 31 August 2023

Circuit Total Total
General
Model Trust		 Designated Restricted
Endowment		 funds funds
Note Fund Fund Funds Funds Funds 2023 2022
£ £ £ £ £
Fixed assets:
Tangible assets 5 1,203,843 - - - - 1,203,843 1,203,843
Investments 6 - - 9,200 - 39,994 49,194 50,500
1,203,843 - 9,200 - 39,994 1,253,037 1,254,343
Current assets:
Debtors 7 22,408 - - - - 22,408 444,866
Bank: Central Finance Board
and Trustees for Methodist 206,720 408,962 157,104 - - 772,786 421,894
Church Purposes deposits
Bank 36,890 - - 18,710 - 55,600 58,869
Total Current Assets 266,018 408,962 157,104 18,710 - 850,794 925,629
Creditors: Due within one
year		 8 (60,869) - - - - (60,869) (66,986)
Net current assets 205,150 408,962 157,104 18,710 39,994 789,925 858,643
Total net assets 1,408,992 408,962 166,304 18,710 39,994 2,042,962 2,112,986
Funds of the circuit:
General Fund 1,408,992 - - - - 1,408,992 1,813,854
Circuit Model Trust Fund - 408,962 - - - 408,962 63,159
Designated Funds - - 166,304 - - 166,304 171,600
Total Unrestricted Funds 1,408,992 408,962 166,304 - - 1,984,258 2,048,613
Restricted Funds - - - 18,710 - 18,710 23,594
Endowment Funds - - - - 39,994 39,994 40,779
Total circuit funds 11 1,408,992 408,962 166,304 18,710 39,994 2,042,962 2,112,986

The notes on pages 10 to 21 form part of these financial statements.

These financial statements were approved by the board of trustees on 27 February 2024 and signed on its behalf:

Reverend Clare Stainsby Superintendent Minister and Chair of Trustees

Graham Iliff Trustee

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Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Charity information

Airedale Methodist Circuit is a Charity registered with the Charity Commission of England and Wales Church, c/o/80 Kirkgate, Silsden, Keighley, BD20 0PA.

Basis of preparation of financial statements

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

Airedale Methodist Circuit meets the definition of a public benefit entity under FRS 102.

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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern

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

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.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

Restricted funds represent grants, donations and legacies received which are allocated by the donor for a particular project or activity.

Endowment funds represent gifts, the capital normally being unavailable for spending, and the income from which is either restricted or unrestricted. Details of each material fund are disclosed in note 10 to these financial statements.

Income

Income represents all income which becomes available to the Charity but excludes gains on investments. Grants and donations are recognisable when the Charity becomes entitled to receive the funds, when it is probable that the funds will be received and that they can be measured with sufficient accuracy. Investment income is recognised on an accruals basis and comprises of interest receivable during the accounting period. Sale proceeds from the sale of assets not previously capitalised are shown net of the property levy where there is no replacement scheme for those assets.

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Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

1. Accounting Policies (continued)

Expenditure

Expenditure is recognised in the period in which it is incurred and includes attributable VAT which cannot be recovered.

Charitable expenditure comprises those costs incurred by the Charity in the deliverance of its activities and services for its beneficiaries. It includes both costs that can be directly allocated to such activities and those costs of an indirect nature necessary to support them.

Support costs include those costs incurred in supporting the work of the Charity.

Liability recognition

Liabilities are recognised as soon as there is a legal or constructive obligation committing the Circuit to pay out resources.

Operating leases

Rentals payable under operating leases, where substantially all the risks and rewards of ownership remains with the lessor, are charged to the Statement of Financial Activities in the year in which they fall due over the period of the lease.

Tangible fixed assets

A tangible fixed asset is capitalised if its expected useful life exceeds one year, and costs £1,000 or more. Freehold land and buildings transferred into the circuit on the merger of the 3 circuits are shown at insurance valuation as at March 2010 and are not revalued annually. Contents are included in the valuation of each property. Properties purchased since that date are included at historical cost.

Freehold land is not depreciated.

Freehold buildings held by the Charity are such that their estimated residual value would mean that any depreciation charge would be immaterial. The trustees undertake periodic impairment reviews to ensure that the carrying value of the properties held by the Circuit does not exceed their realisable value.

Freehold land and buildings may be let on short term tenancy arrangements. These properties remain in fixed assets unless it is felt likely that the property will not be used for charitable purpose in the future.

Transfer of church buildings into the circuit

Where a church building that is no longer under the stewardship of the church but where responsibility for stewardship has been transferred to the circuit following the closure of the church, the following accounting policy is adopted. The property will be included as a current asset net of any levy and included in incoming resources where an acceptable offer has been made for the building during the accounting period and the sale has crystalised after the year end.

Investments

Investments relate to cash held on deposit in interest bearing deposit accounts.

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Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

1. Accounting Policies (continued)

Deposit Funds, such as TIF (Trustee Interest Fund) held via Trustees for Methodist Church Purposes and the Central Finance Board are shown separately from Cash and Bank in the Balance Sheet.

Debtors and prepayments

Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any discounts due.

Creditors, loans, provisions and grants payable

Creditors, loans and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfers of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement value after allowing for any discounts which may be due.

Grants to local churches for property schemes and other purposes are accounted for as liabilities when they receive formal approval by the Circuit Meeting. Grants awarded to other charitable bodies are accounted for as liabilities in the period in which the award is made.

Financial liabilities are only derecognised when, the Charity they expire.

Amounts recognised as provisions are best estimates of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Pensions and staff costs

The Charity (M benefit scheme operated by The Methodist Church. The Circuit accounts for contributions paid for by the ministers and the circuit as a defined contribution as no liability for past service sits with the circuit.

The charity operates a defined contribution plan for the lay staff. The assets of the plan are held separately from the Charity in independently administered funds. All circuit contributions to the scheme are charged to the income and expenditure account in the period to which they relate.

Taxation

Airedale Methodist Circuit is a registered charity and as such is potentially entitled to tax exemption under Section 256 of the Taxation of Chargeable Gains Act 1992 in respect of income and gains arising.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except bank loans which are subsequently measured at amortised cost using the effective interest method.

Concessionary Loans

As permitted by paragraph 34.90 of FRS102, Concessionary Loans are initially recognised at the amount received or paid, with the carrying amount adjusted in subsequent years to reflect repayments and any accrued interest and adjusted if necessary for any impairment.

Critical Accounting Estimates and Judgements

In the application of the Charity

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.

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Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

1. Accounting Policies (continued)

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, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Other than the non-depreciation of Freehold property, as disclosed in note 1, the Trustees consider that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

2. Minister and Lay Staff Information

The average number of clergy and lay staff were:

2023 2022
Clergy 3 3
Lay staff 4 6
7 9

Ministers and lay staff costs during the year were as follows:

Lay Lay
Clergy staff Total Clergy staff Total
2023 2023 2023 2022 2022 2022
£ £ £ £ £ £
Wages and salaries 70,272 52,485 122,757 67,397 61,814 129,211
Social security costs 6,422 2,719 9,141 6,844 8,702 15,546
Pension costs 18,037 2,854 20,891 16,560 3,015 19,575
94,731 58,058 152,789 90,801 73,531 164,332

No employee earned £60,000 or more during the year (2022: no employee).

The Charity considers its key management personnel to include the Circuit Staff as set out on page 1. The remuneration of the Circuit Ministers (clergy) are set out above with further details set out in Note 13. The remuneration of lay employees who are also members of the Circuit Assembly is shown in Note 13. No other members of the Circuit Leadership Team receive remuneration from the Circuit.

3. Trustees emuneration and Trustees xpenses

There were no expenses paid to trustees during the year other than those referred to in Note 13. All paid to trustees is included in Note 13.

4. Net Expenditure for the Year

This is stated after charging: 2023 2022
£ £
Independent Examiners fee 910 825
Accountancy services provided by the Independent Examiner 2,170 1,975

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Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

5. Tangible Fixed Assets

5.
Tangible Fixed Assets
Freehold land and
buildings
(Manses and
internal contents) Total
£ £
Cost:
At 1 September 2022 and 31 August 2023 1,203,843 1,203,843
Depreciation:
At 1 September 2022 and 31 August 2023 - -
Net book value at 31 August2022and 31 August2023 1,203,843 1,203,843
6.
Investments
£
Market value at 31 August 2022 50,500
Realised and unrealised loss in the year (1,306)
Market Value at 31 August 2023 49,194
Investments include unitised funds held in the COIF Charities Investment Fund
 Income Units
administered by CCLA.
The historical cost of investments held at market value is £35,295 (2022 - £35,295). The historical cost of investments held at market value is £35,295 (2022 - £35,295).
7.
Debtors
2023 2022
£ £
Due within one year:
Debtors 10,176 8,596
Prepayments and accrued income 12,232 432,187
22,408 440,783
Due in more than one year:
Loan to Oakworth Church - 4,083
- 4,083
Total debtors 22,408 444,866

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Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

8. Creditors

2023 2022
£ £
Income received in advance 55,265 37,789
Accruals 5,603 28,197
Other creditors - 1,000
60,868 66,986

Income in advance represents assessments paid by circuit churches for the year ended 31 August 2022.

9. Income received in advance

9.
Income received in advance
2023 2022
£ £
Balance at 1 September 37,789 36,226
Released in the year to the statement (37,789) (36,226)
Deferred in theyear 55,265 37,789
55,265 37,789

10. Grants Payable

During the year the Charity awarded grants to the following: 2023 2022
Total Total
£ £
Grants made to institutions:
Marsh MC 437 -
Oxenhope MC 1,115 -
Silsden MC 170 -
Cullingworth MC 108 -
Oxenhope MC - 801
Long Lee MC - 855
Craven MC - 1,000
Worth Valley MC - 1,000
Aire Valley MC - 1,000
Christian Links in Keighley Schools 500 -
2,330 4,656
Reconciliation of grants payable 2023 2022
£ £
Commitment at 1 September 1,000 206
Grants committed in the year (as above) 2,330 4,656
Grants paid in the year (3,330) (3,862)
Commitment at 31 August(Note 8) - 1,000

To comply with Charities SORP (FRS 102) non-performance grants are reported in the SoFA on approval of application. In some cases payment may be spread over a period of time which gives rise to future commitments. These are reported as creditors and shown in note 8.

15

Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

11. Movement in Funds

Income &
For the year ended Balance
Realised/		 Balance
31 August 2023 1 September
Unrealised		 31 August
2022 **Gains ** Expenditure Transfers 2023
£ £ £ £ £
Endowment funds:
Hebden Wright Charity 40,779 (785) - - 39,994
Restricted funds:
NPNP Grants - 3,000 (3,000) - -
Bingley Foodbank 23,594 11,349 (16,233) - 18,710
Hebden Wright Charity - 1,156 - (1,156) -
Total Restricted funds 23,594 15,505 (19,233) (1,156) 18,710
Unrestricted funds:
General Funds 1,813,854 214,633 (265,137) (354,358) 1,408,992
Circuit Model Trust Fund 63,159 12,419 (1,630) 335,014 408,962
Total 1,877,013 227,052 (266,767) (19,344) 1,817,954
Designated funds:
Manses Funds 28,322 - (22,712) 16,000 21,610
CAF Grants Funds 6,339 - (1,830) 4,500 9,009
Victoria Park Funds 85,448 - (2,691) - 82,757
Benevolence Fund 5,620 - - - 5,620
Keighley Church Fund 24,020 11,060 (8,019) - 27,061
Exley Head Fund 21,851 4,379 (5,983) - 20,247
Total designated funds 171,600 15,439 (41,235) 20,500 166,304
Total unrestricted funds 2,048,613 242,491 (308,002) 20,500 1,984,258
Total funds 2,112,986 257,211 (327,235) - 2,042,962

Circuit Model Fund Transfers : to cover grant payments, property transactions and budget support during the year.

Restricted funds

NPNP Grants - funding for -loved project Bingley Foodbank - funding for the relief of hunger locally Hebden Wright Charity - funding

Designated funds:

Manses fund - To cover costs of general repairs and maintenance of the manses. CAF grants fund - To cover small property repairs for local churches.

Victoria Park fund - Monies put aside by the circuit to cover expenditure for any special projects. Benevolence fund - To cover donations in cases of particular hardship at the discretion of the Ministers. Keighley Church Fund To cover costs for the day to day running of Keighley church. Exley Head Fund - To cover costs for the day to day running of Exley Head church.

16

Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

11. Movement in Funds (Continued)

Income &
For the year ended Balance
Realised/		 Balance
31 August 2022 1 September
Unrealised		 31 August
2021 **Gains ** Expenditure Transfers 2022
£ £ £ £ £
Endowment funds:
Hebden Wright Charity 42,742 (1,963) - - 40,779
Restricted funds:
District Grants - 8,000 (8,000) - -
Bingley Foodbank 15,566 11,648 (3,620) - 23,594
Hebden Wright Charity - 1,147 - (1,147) -
Total Restricted funds 15,566 20,795 (11,620) (1,147) 23,594
Unrestricted funds:
General Funds 1,565,498 644,141 (354,838) (40,947) 1,813,854
Circuit Model Trust Fund 40,892 184 (1,011) 23,094 63,159
Total 1,606,390 644,325 (355,850) (17,853) 1,877,013
Designated funds: -
Manses Funds 41,422 - (13,100) - 28,322
CAF Grants Funds 7,995 - (1,656) - 6,339
Victoria Park Funds 86,618 - (1,170) - 85,448
Benevolence Fund 5,620 - - - 5,620
Dunnington Bequest Fund 7,375 - (7,375) - -
Keighley Church Fund - 32,235 (7,215) (1,000) 24,020
Exley Head Fund - 32,556 (30,705) 20,000 21,851
Total designated funds 149,030 64,791 (61,221) 19,000 171,600
Total unrestricted funds 1,755,420 709,116 (417,071) 1,147 2,048,613
Total funds 1,813,728 727,948 (428,690) - 2,112,986

17

Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

12. Analysis of Net Assets by Fund

For the year ended Unrestricted Designated Restricted Endowment
31 August 2023 funds funds funds funds Total funds
£ £ £ £ £
Tangible fixed assets 1,203,843 - - - 1,203,843
Investments - 9,200 - 39,994 49,194
Net current assets 614,111 157,104 18,710 - 789,925
1,817,954 166,304 18,710 39,994 2,042,962
For the year ended
Unrestricted
Designated		 Restricted Endowment Total
31 August 2022 funds funds funds funds funds
£ £ £ £ £
Tangible fixed assets 1,203,843 - - - 1,203,843
Investments - 9,721 - 40,779 50,500
Net current assets 671,023 162,879 24,741 - 858,643
1,874,866 172,600 24,741 40,779 2,112,986

13. 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 stationed by the Conference in the Circuit. The following ministers received the below stipends for the year:

2023 2022
Name Position Salary Salary
£ £
Rev C Stainsby Minister 27,104 26,096
Rev H Shallow Minister 27,104 26,087
Rev T Keen Minister 13,371 12,870

All the above

In addition to the basic stipend, a Connexionally agreed Superintendent Ministers allowance of £2,692 (2022: £2,582) was paid to Rev C Stainsby.

Lay employees

The following members of the Circuit Meeting are/were also employees of the Circuit and are/were in receipt of salaries for the work they undertake in the capacities indicated. They do not receive payment for acting as trustees:

for acting as trustees:
2023 2022
Name Position Salary Salary
£ £
Glenda Coogan Church Worker 16,393 15,024
Sharon Longman Church Worker - 11,306
Jeremy Longman Digital Outreach Worker - 8,356
Deborah Brazier Church Worker - 11,470
Pippa Lupton Church Worker 12,637 -

Other ministers

No trustees were paid preaching fees in the year (2022 none).

Other payments

No travelling or course fees were paid to trustees (2022 none).

18

Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

14. Pension Scheme

The Charity defined benefit scheme. The Circuit accounts for contributions paid for by the ministers and the circuit. Those contributions are paid over to The Methodist Church. The circuit contributes 26.9% (2022 26.9%) of

The cost of the pension scheme to the circuit for the year ended 31 August 2023 was £18,037 (2022: £17,297). At 31 August 2023 £1,953 (2022: £1,503) was prepaid in respect of the scheme.

During the year the Charity made arrangements for a defined contribution pension for its lay employees. The cost of the pension scheme to the circuit for the year ended 31 August 2023 was £2,854 (2022: £3,043). There were no amounts outstanding at the year end (2022: £nil).

15. Commitments

There were no capital commitments at 31 August 2023 (2022: no capital commitments).

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2023 2022
£ £
Within one year 1,457 -
Between two and five years 5,462 -
6,919 -

16. Contingent Liabilities

There were no contingent liabilities as at 31 August 2023 (2022: no contingent liabilities).

17. Hebden Wright Endowment

The Hebden Wright Endowmen year ending 31 August 2015. Originally it was held by a separate charity relating to Hermit Hole and then Wesley Place Methodist Churches, both long since closed. During 2016-17 the Charity Commission approved a change in the application of income to allow it to be used to support music, worship and repairs at any of Hebden Wright charity was dissolved in July 2022. The capital of £39,994 has been shown as an endowment at 31 August 2023 (2022: £40,779) and the generated income of £1,156 (2022 : £1,147) has been shown as restricted.

19

Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

18. Trustees

The following trustees have held office since 1 September 2022:

Jean Ainsworth Linda Keen (appointed September 2022, resigned Richard Arnold (appointed September 2023) August 2023) David Ayrton Terry Keen (resigned August 2023) Maurice Baren Philippa Lupton (appointed October 2022) Tracy Birks (appointed September 2023) Ann Murgatroyd Denise Butcher Kath Neal Lindsey Butler (appointed September 2022) Christopher Partington (appointed September Janet Clark 2023) David Clegg Anne Pearson Glenda Coogan Mary Peet Claire Corp Olwyne Pullen Phil Corp Brenda Quail Kathleen Crabtree Carleen Richardson (resigned August 2023) Sue Cutter Lena Robinson Tony Denning Louise Rouse Clare Dewhirst Eileen Sergeant Fiona Green Helen Shallow Christine Hambley (appointed September 2022) Tim Sharp Judith Hargreaves Graham Sheard Pam Helyar Clare Stainsby Andrew Houldsworth Joanne Stokes David Howarth Maureen Studholme (appointed September 2022) Peter Howarth Emma Sutcliffe James Huntington (appointed September 2022, Christine Wood resigned August 2023) Graham Iliff Eileen Jowitt (resigned September 2022)

19. Post balance sheet events

In January 2024 the circuit bought the former Trinity Church in Keighley for £193,960 to be a home for New Places for New People Pre-Loved project and a base for mission and outreach.

20

Airedale Methodist Circuit

Notes to the Financial Statements for the Year Ended 31 August 2023

20. Comparative Statement of Financial Activities for the Year Ended 31 August 2022

Unrestricted Funds Unrestricted Funds Unrestricted Funds
General Circuit Model Designated Restricted Endowment Total funds
Fund Trust Fund Funds Funds Funds 2022
£ £ £ £ £ £
Income from:
Donations
Assessment or Share 190,792 - 8,947 - - 199,739
Sale of chapel 417,564 - - - - 417,564
Charitable activities
Grants - - - 8,000 - 8,000
Bingley Foodbank - - - 11,648 - 11,648
Other income 4,534 - 1,142 - - 5,676
Transfer from circuit church 7,268 - 53,390 - - 60,658
Other trading activities
Lettings 23,140 - 2,485 - - 25,625
Investment income 843 184 80 1,147 - 2,254
Total income 644,141 184 66,044 20,795 - 731,164
Expenditure on:
Charitable activities:
Stipends and salaries 151,581 - 4,751 8,000 - 164,332
District Assessments 56,332 - - - - 56,332
Administration and travel 16,524 117 - - - 16,641
Insurance and utilities 19,446 - 10,321 - - 29,767
Circuit property expenditure 40,729 - 37,316 - - 78,045
Other expenditure 7,626 - 7,177 - - 14,803
Grants payable 3,000 - 1,656 - - 4,656
Contributions to District
Advance Fund		 - 894 - - - 894
Bingley Foodbank - - - 3,620 - 3,620
Independent examination 3,468 - - - - 3,468
Total expenditure 298,706 1,011 61,221 11,620 - 372,558
Net income /(expenditure)
before other recognised gains		 345,435 (827) 4,823 9,175 - 358,606
Realised and unrealised gains on
investments - - (1,253) - (1,963) (3,216)
Losses on disposal of fixed assets (56,132) - - - - (56,132)
Transfers between funds (40,947) 23,094 19,000 (1,147) - -
Net movement in funds 248,356 22,267 22,570 8,028 (1,963) 299,258
Funds brought forward 1,565,498 40,892 149,030 15,566 42,742 1,813,728
Funds carried forward 1,813,854 63,159 171,600 23,594 40,779 2,112,986

21