Charity Number: 1160063 Airedale Methodist Circuit Trustees. Annual Report and Financial Statements for the Year Ended 31 August 2024
Airedale Methodist Circuit Contents Page Charity Information Trustees, Annual Report ... Independent Examiner's Report............................................................................ Statement of Financial Activities........................................................................... Balance Sheet.................................................................................................... Notes to the Financial Statements io
Airedale Methodist Circuit Charity Information Reference and Administrative Information Circuit Number: Charity Registration Number: 27131 1160063 The Circuit comprised the following churches at 31 August 2024: Aire Valley (including Bingleyi 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 Tracy Birks Lay." Church Workers: Glenda Coogan Pippa Lupton Chris Partington New Places for New People Project Worker: Sarah McDonald-Howard (resigned September 2024) Adam Denno (appointed April 2025) Circuit Administrator and Communications Officer: Esther Gregory-witham Finance Officer: Edwin Tate Finance Assistant.. Daniel Spencer (appointed February 2025) Trustees: The Circuit Meeting members are the Trustees of the Charity (listed in Note 18). Circuit Stewards: Claire Corp Pam Helyar Peter Howarth (resigned September 2024) Graham Iliff Circuit Safeguarding Officer: c/0 Rev Clare Stainsby and Esther Gregory-witham Circuit Treasurer: Mr Graham Iliff Circuit Office: Airedale Methodist Circuit Office 80 Kirkgate Silsden Keighley BD20 OPA Independent Examiner: Jessica Lawrence FCA CTA Azets Audit Services Limited 12 King Street Leeds LSI 2HL
Airedale Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 Structure, Governance and Management The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity's governing document, the Charities Act 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 We are God's people here, listening for God's voice, worshipping, caring, encouraging faith experiences and taking action to build God's Kingdom in a variety of ways. Worship The Church exists to increase awareness of God's presence and to celebrate God's love. We are committed to making worship inclusive, welcoming and accessible for all across the circuit. We are encouraging prayer, and seeking new opportunities for prayer experiences. We are encouraging people to notice God alive and at work, both 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. We offer care to the families of our churches, and to the people of the communities around us. We encourage opportunities to learn more about our faith. We are committed to hospitality and generosity. Service The Church exists to be a good neighbour to people in need and to challenge injustice. We are ready to offer support to help the needs of our communities, and people of the wider world. We are seeking ways of actively caring for creation. We are ready and willing to challenge injustice wherever we see it. Evangelism The Church exists to make more followers of Jesus Christ. We are encouraging a willingness among our church people to speak of their own experience of love of God. We are committed to living in a way that draws others to Jesus. We are seeking ways of sharing our faith with others. In all these things, we want to be a blessing within and beyond God's Church, for the transformation of the world. Objectives: As stated in the Governing Document, the purposes of the Methodist Church are the advancement of: a) the Christian faith in accordance with the doctrinal standards and 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.
Airedale Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 structure and Decision Making The Circuit Meeting is the charity's trustee body that 15 ultimately responsible for decisions. It meets in autumn and spring and elsewhere as needed. The Circuit Leadership Team (CLT), comprising the Ministers, Lay Workers and Stewards, are the Circuit's key management personnel in charge of directing and operating it on a day to day basis. Their work includes guiding the Circuit's life and work, preparing proposals for and implementing 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: being treasurers of the Circuit funds, with particular input from the Circuit Treasurer and the Finance Officer; maintenance and upkeep of the manses, with particular input from the Circuit Property Group; and bringing to the Invitation Committee andlor Circuit Meeting proposals about Ministers to serve. 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 Mana ement 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. In particular- suitable insurance cover is in place. the Circuit's finances are kept under review and financial policies have been approved. the Circuit has adopted the Methodist Church Safeguarding Policy and other related policies, and has rolled these out to the churches; it has appointed a Circuit Safeguarding Co-ordinator. appropriate Disclosure and Barring Service (DBS) checks are made and there are regular audits of Safeguarding practices across the Circuit and all its churches. Circuit Leadership Team continues to monitor risks, seeking professional advice where necessary. We confirm that the Trustees have had regard to the Charity Commission's guidance on public benefit. Airedale Methodist Circuit carries out a range of activities in pursuan of its mission. The Circuit will use resources for mission-based projetts. 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 across the Circuit included services at congregation, Church and Circuit level, with the shared gatherings giving opportunities to praise God and develop relationships in vibrant larger groups. They included the Barn Carol Service and Summer Praise to which the Chair of District came to preach. Online worship included the Fresh Aire reflections via Facebook and services streamed from Oakworth to reach those who were unable to meet in person. Pastoral care was given by ministers, lay workers and church support networks as the outworking of Jesus, love and compassion for everyone. Training was offered in Equality, Diversity and Inclusion as well as in safeguarding to help foster a culture of safety, respett and welcome for all. Baptisms, weddings and funerals supported church and local community members at times of particular need and Messy Church and GI, the Circuit's youth group, served children, young people and families. Oakworth's Pantomime gave youngsters wonderful opportunities to develop friendships and skills in the supportive context of a faith community.
Airedale Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 Achievements and Performance (continued) The Circuit's New Places for New People (NPNP) Pmjert developed and flourished, bringing exciting opportunities for mission supported by significant Connexional and District funding as well as Circuit contributions. The project seeks to reach out to those who may have no experience of church, and build community and faith in response to Jesus's love. Sarah's employment as the Project's worker led to expansion of the Preloved Shop, with the Circuit providing a second unit in Keighley's Royal Arcade. The purchase and preparation of The New Place property in Keighley enabled a much wider range of activities and it was not long before regular open sessions several times a week began to draw increasing numbers of people across a wide age range into this warm and welcoming environment, supported by volunteers and staff who follow a daily worship pattem. Significant outreach was also offered from many other venues including the Bingley Foodbank, Keighley Hall's Welcome Cafe, and several Warm Spaces and other groups in the Circuit's churches. Peo le and ro Ministers, Lay Employees and Volunteers At the start of the year, we welcomed our new staff: Rev Tracy Birks as minister. Chris Partington as Church Worker. and Sarah McDonald-Howard for the NPNP Project. Almost every artivity in the Circuit depends on the support of a wide range of faithful and committed volunteers, who often work alongside the staff. The Circuit is blessed by its personnel, but there is recognition that as congregations and churches reduce in number and struggle to fill their own roles, there are fewer people still to draw upon for Circuit roles, at the same time as the need for the Circuit's support continues to grow, in areas such as property, finance and safeguarding. Recognizing the scale of these challenges, the staff team and Circuit stewards worked hard to prepare the foundations for developing a sustainable plan for the future, based around the Circuit's Vision and Purpose statement and following the earlier creation of the three multi-congregation Churches. 'Bright Hope for Tomorrow, was launched, with regular newsletters to inform and encourage while exploring how to grow worshipping communities that would remain a faithful and effective witness to God's love and grace for future generations. A key priority here is to release people's time and energy to focus on worship and mission and reduce administrative burdens such as property management, with so many ageing buildings needing to be looked after by such a small number of people. Thanks were expressed to those who stepped down from their roles, including William Jowitt after many years on Circuit Property Group, and Peter Howarth following many years as a Circuit Steward. The Circuit is thankful for all they have contributed, and grateful that they both continue to serve in many different ways. Property matters In January 2024 the purchase of The New Place completed. This newer, smaller church property in Keighley, under the Circuit's Managing Trusteeship, is a replacement for Exley Head and a home for the NPNP Project. It was capitalized in our accounts at a value of £190,000 but the purchase and preparation costs were recorded as expenditure. In March 2024, the sale of Keighley Methodist Hall (already under the Circuit's managing trusteeship) to the Anglican Church completed for £20,000 which is recorded in the accounts as income. Its congregation remains part of Worth Valley Church. Preparations continued towards the sale of Exley Head, the sale via long lease of Denholme's burial ground, and Circuit Meeting approved the sale of the former Cowling Methodist Church. These properties will be accorded a value in future accounts in line with our accounting policies. Recognizing that these more complicated sales may take some time to complete, Circuit Meeting also approved the sale of the former manse in Sutton-in-craven which the tenants vacated before the year-end. This was to try to ensure further sale proceeds coming available in good time for when they are needed, which is anticipated to be in the second half of the year ending 31st August 2026. The Circuit also rented out its other former manse in Silsden from April 2024. 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 and the Methodist Church's commitment to Net Zero by 2030.
Airedale Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 Achievements and Performance (continued) Financial Review The Statement of Financial Activities shows net expenditure after recognised gains for the year of £164,084 (2023 £70,024) and the total reserves at 31 August 2024 stand at £1,878,878 (2023 £2,042,962). But these figures include the finances of Bingley Foodbank, Exley Head and Keighleyi the modest sale proceeds from Keighley Hall and various sale, purchase and other costs including the Model Trust fund levy that fall beyond the core revenue operation of the Circuit. If these transactions were excluded, then, the Circuit would be seen on one calculation to be running at a deficit in the region of £138,000, compared with around £57,000 in 2023). On this basis, the principal core revenue funding sources were the Assessments from the Circuit's churches, grant funding for the NPNP Project and rental income, while the main items of core revenue expenditure were the employment and (where applicable) accommodation costs of the staff, the Connexional and District Assessments, and operating costs. The Trustees consider the Circuit's financial position to be satisfactory at present. The significant rise in the deficit results from the planned major staffing increase to drive mission. This has only been possible because of previous sale proceeds, which have also temporarily funded the purchase of The New Place until Exley Head, which it replaces, is sold. With a deficit of this scale, the further planned sales of the Cowling church and Sutton manse properties will be necessary. But the trustees are also well aware that this deficit will need to be significantly reduced as the Circuit looks towards its longer term plans, including for the next stationing term, and the financial position is being carefully monitored. The Trustees aim to hold sufficient free reserves (unrestricted funds not committed or invested in fixed assets) to cover six months of the Circuit's running costs. For the year ended 31 August 2024, these costs were £239,843 and the free reserves, excluding designated funds were £276,406 (2023 £614,111) which would sustain the Circuit for nearly 7 months. 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 follow the Institute of Fundraising's Code of Practice. After the Year End The Circuit said farewell to Sarah the NPNP Project worker and thanked her for all she had done. The Project's work in The New Place had developed to the point where the Royal Arcade premises were no longer needed, and the Circuit surrendered its leases there. A replacement Project worker was sought, to start as soon as possible. The Circuit also advertised for a Finance Assistant to join and support the existing staff. The Bright Hope for Tomorrow initiative took on greater significance as the Circuit moves towards another stationing round and looks towards its staffing and other resourcing needs from September 2026.
Airedale Methodist Circuit Trustees. Annual Report for the Year Ended 31 August 2024 Trustees. Responsibilities The charity Trustees are responsible for preparing a trustees. annual report and financial statements in 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: selected su itable accounting policies and applied them consistently observed the methods and principles in the applicable Charities SORP made judgements and estimates that are reasonable and prudent stated whether applicable accounting standards have been followed, subjett to any material departures disclosed and explained in the financial statements prepared the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business 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 detettion of fraud and other irregularities. Approved on 12th lune 2025 and signed on behalf of the Circuit by: Reverend Clare Stainsby Superintendent Minister and Chair of Trustees
Airedale Methodist Circuit Independent Examiner's 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 2024. 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 l 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 requirements of the Charities Act 2011 ('the Act.). report in respect of my examination of the Charity's accounts carried out under section 145 of the 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's trustee5 as a body. My 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 trustee5 as a body for my examination work, for this report, or for the statements I have made. Independent Examiner's Statement Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because l 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: 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. 1610612025 Jessica Lawrence FCA CTA Azets Audit Services Limited 12 King Street Leeds LSI 2HL
Airedale Methodist Circuit Statement of Financial Activities for the Year Ended 31 August 2024 Unrestrirted Funds Circuit General Model Trust Designated Restricted Endowment Fund Fund Funds Funds Funds Total funds 2024 Total funds 2023 Note Income from: Donations Assessment or Share 189,231 189,231 5,517 20,050 186,615 9,192 Donations 5.517 Sale of church 20.050 Charitable artivities Grants 35.600 10,350 773 35,600 10,350 4,650 3,000 11,349 3,778 Bingley Foodbank Other income 2,689 1,188 other trading activities Lettings Investment income 14,250 1.755 1.827 16,005 30,604 19,675 24,908 27.610 1.167 Total income 226.220 27.610 47.890 312,007 258,517 Expenditure on: Charitable activities: stipends and salaries District Assessments 224.413 55.716 37.498 12,992 22.963 24.453 501 24.991 249,404 55,716 38,664 25,572 65,705 27,673 2,688 10,263 4,000 152,789 54,360 12,721 23,980 43,667 17,459 2,330 16,233 3,696 Administration and travel 1.166 Insurance and utilities 12,148 37.740 432 Circuit property expenditure Other expenditure Grants payable Bingley Foodbank Independent examination 5.002 3,220 io 2,187 10,263 4,000 Total expenditure 382.536 1.166 52,075 43.908 479,685 327,235 Net income /(expenditure) before other recognised gains Reali5ed and unrealised gains on investments Transfers between funds Net movement in funds (156,316) 26,444 (41,788) 3,982 (167,678) (68,718) 324 3,270 3,594 {1,306) 325 313 168,997 343 146 26.444 (22,464) 2,815 3,270 (164,084) (70,024) Funds brought forward Funds carried forward 1.408.992 1 577 989 408.962 166,304 143 840 18,710 39,994 2,042,962 2.112,986 43 264 1 878 878 2 042 962 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 2023 is shown at note 20. There were no recognised gains and losses for 2024 and 2023 other than those included in the Statement of Financial Artivities.
Airedale Methodist Circuit Balance Sheet as at 31 August 2024 Total funds 2024 Total funds 2023 General Circuit Model Designated Restricted Endowment Fund Trust Fund Funds Funds Funds Note Fixed assets: Tangible assets Investments 1.393.843 1.393,843 1.203,843 43,264 52,788 49,194 43,264 1,446,631 1,253,037 9.524 9.524 1.393,843 Current assets: Debtors Bank.. Central Finance Board and Trustees for Methodist Church Purposes deposits Bank 23,934 23,934 22,408 144,731 92,260 134,316 371,307 772,786 63,933 232,598 21,525 21,525 85,458 55,600 480,699 850,794 Total Current Assets 92,260 134,316 Creditors: Due within one year Net current assets (48,452) (48,452) (60,869) 184,146 1.577.989 92,260 92.260 134.316 143.840 21,525 21.525 432,247 789,925 1,878,878 2,042,962 Total net assets Funds of the circuit: General Fund 1,577,989 1,577,989 1,408,992 92,260 408,962 143 840 166 304 Circuit Model Trust Fund 92,260 Designated Funds Total Unrestricted Funds 143.840 1.577,989 92.260 143.840 1,814,089 1.984,258 Restricted Funds 21.525 21,525 18,710 43,264 43,264 39,994 43 264 1 878 878 2 042 962 Endowment Funds Total circuit funds 11 1 577 989 143 840 The notes on pages 10 to 21 form part of these financial statements. These financial statements were approved by the board of trustees on 12th June 2025 and signed on its behalf- SWI Reverend Clare Stainsby Superintendent Minister and Chair of Trustees Graham Iliff Trustee
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 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 under registered Charity number 1160063. The Charity's principal office address is Airedale Methodist Circuit Office, 80 Kirkgate, Silsden, Keighley, BD20 OPA. 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 I January 2019) ('Charities SORP (FRS102)') 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 a disclosed in note I I 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. io
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 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 cost5 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 Circu it 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. li
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 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 discount5 due. Creditors, loansi 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 accou nted for as liabilities in the period in which the award is made. Financial liabilities are only derecognised when, the Charity's obligations are discharged, cancelled or 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 makes payments to the Methodist Ministers, Pension Scheme '(MMPS)' which is a defined 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 circu it. 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 i nstru ments. 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'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. 12
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 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 I, 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. Minister and Lay Staff Information The average number of clergy and lay staff were: 2024 2023 Clergy La staff Ministers, and lay staff costs during the year were as follows: Lay staff 2024 Lay staff 2023 Cleryy 2024 Total 2024 Clergy 2023 Total 2023 Wages and salaries Social security costs Pension costs 91,020 9,295 111,125 8,262 202,145 17,557 70,272 6,422 52,485 2,719 122,757 9,141 123 348 126 056 249 404 152 789 No employees earned £60,000 or more during the year (2023: no employees). The Charity considers its key management personnel to include the Circuit Staff as set out on page l. 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 Meeting is shown in Note 13. No other members of the Circuit Leadership Team receive remuneration from the Circuit. Trustees. Remuneration and Trustees. Expenses There were no expenses paid to trustees during the year other than those referred to in Note 13. All ministers, expenses were incurred in carrying out their roles as ministers. Information on remuneration paid to trustees is included in Note 13. Net Expenditure for the Year This is stated after charging- 2024 2023 Independent Examiners fee Accountan services rovided b the Inde 1,000 910 endent Examiner 13
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 Tangible Fixed Assets Freehold land and buildings Total Cost: At I September 2023 Additions At31Au 1,203,843 190,000 1 393 843 1,203,843 190,000 1 393 843 ust 2024 Depreciation: AtISe tember 2023 and 31 Au ust 2024 Net book value at 31 August 2024 Net book value at 31 Au ust 2023 1,393,843 1 203 843 1,393,843 1 203 843 Investments Market value at 31 August 2023 Realised and unrealised loss in the ear Market Value at 31 Au ust 2024 49,194 3,594 Investments include unitised funds held in the COIF Charities Investment Fund administered by CCLA. Income Units The historical cost of investments held at market value is £35,295 (2023 - £35,295). Debtors 2024 2023 Due within one year: Debtors Pre ments and accrued income 10,357 10,176 14
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 Creditors 2024 2023 Income received in advance Accruals 37,613 10,839 55,265 Income in advance represents assessments paid by circuit churches for the year ended 31 August 2025. Income received in advance 2024 2023 Balance at I September Released in the year to the statement Deferred in the year 55,265 (55,265) 37,789 (37,789) io. Grants Payable During the year the Charity awarded grants to the following: 2024 Total 2023 Total Grants made to institutions: Marsh MC Oxenhope MC Silsden MC Cullingworth MC Oxenhope MC Christian Links in Kei 437 1,115 170 108 980 594 614 500 hle Schools 500 Reconciliation of grants payable 2024 2023 Commitment at I September Grants committed in the year (as above) Grants aid in the ear Commitment at 31 Au 1,000 2,330 2,688 ust Note 8 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 2024 ii. Movement in Funds Income & Balance Realised/ I September Unrealised 2023 Gains ExpenditureTransfers For the year ended 31 August 2024 Balance 31 August 2024 Endowment funds: Hebden Wri ht Fund Restricted funds: NPNP Grants Bingley Foodbank Hebden Wright Fund Total Restricted funds 36,373 10,350 1,167 (33,646) (10,262) 2,727 18,798 18,710 {1,167) Unrestricted funds: General Funds Circuit Model Trust Fund Total 1,408,992 408 962 226,220 27,610 254 997 (382,536) 325,313 1,577,989 343 146 92,260 1 670 249 1 817 954 383 702 Designated funds: Manses Funds CAF Grants Funds Victoria Park Funds Benevolence Fund Keighley Church Fund Exley Head Fund Total desi nated funds 21,610 9,009 82,757 5,620 27,061 20,247 166 304 (21,074) (2,187) (16,665) 20,000 20,536 6,822 66,092 5,620 29,307 15,463 143 840 9,771 840 (6,525) (1,000) (5,624) Total unrestricted funds 1,984,258 265,608 (435,777) 1,814,089 Total funds 2 042 962 315 601 479 685 1 878 878 Circuit Model Fund Transfers: to cover grant payments, property transactions and budget support during the year. Restricted funds NPNP Grants - funding for the Circuit's pre-loved project. Bingley Foodbank - fu nding for the relief of hunger locally Hebden Wright Fund funding to support music, worship and repairs at any of the Circuit's churches. 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 2024 ii. Movement in Funds (Continued) Income & Balance Realised/ I September Unrealised 2022 Gains ExpenditureTransfers For the year ended 31 August 2023 Balance 31 August 2023 Endowment funds: Hebden Wri ht Fund 785 Restricted funds: NPNP Grants Bingley Foodbank Hebden Wright Fund Total Restricted funds 3,000 11,349 1,157 (3,000) (16,233) 23,594 18,710 (1,157) Unrestricted funds: General Funds Circuit Model Trust Fund Total 1,813,854 213,476 (265,137) {354,358) 1,408,992 335 014 408 962 1 877 013 225 895 266 767 1 817 954 Designated funds: Manses Funds CAF Grants Funds Victoria Park Funds Benevolence Fund Keighley Church Fund Exley Head Fund Total desi nated funds 28,322 6,339 85,448 5,620 24,020 21,851 171 600 (22,712) (1,830) (2,691) 16,000 4,500 21,610 9,009 82,757 5,620 27,061 20,247 166 304 11,060 4,379 (8,019) (5,983) 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 17
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 12. Analysis of Net Assets by Fund For the year ended Unrestricted Designated 31 August 2024 funds funds Restricted Endowment funds funds Total funds Tangible fixed assets Investments Net current assets 1,393,843 1,393,843 52,788 432,247 1,878,878 9,524 134,316 143,840 43,264 276,406 1,670,249 21,525 21,525 43,264 For the year ended 31 August 2023 Unrestricted Designated Restricted Endowment funds funds funds funds Total funds Tangible fixed assets Investments Net current assets 1,203,843 1,203,843 49,194 789 925 2,042,962 9,200 157 104 166,304 39,994 614 111 1,817,954 18,710 39,994 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: 2024 Salary 2023 Salary Name Position Rev C Stainsby Rev H Shallow Rev T Keen Rev T Birks Minister Minister Minister Minister 29,040 29,040 27,104 27,104 13,371 29,040 All the above were provided with living accommodation as required by the church's Standing Orders. In addition to the basic stipend, a Connexionally agreed Superintendent Ministers allowance of £2,904 (2023: £2,692) 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: 2024 Salary 2023 Salary Name Position Glenda Coogan Pippa Lupton Chris Partington Church Worker Church Worker Church Worker 17,680 22,866 21,216 16,393 12,637 Other ministers No trustees were paid preaching fees in the year (2023 -none). Other payments No travelling or course fees were paid to trustees (2023 -none). 18
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 14. Pension Scheme The Charity makes payments to the methodist Ministers. Pension Scheme (MMPS) which is a 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 26.90/0 (2023 - 26.90/0) of ministers, stipends to the Methodist Church. The cost of the pension scheme to the circuit for the year ended 31 August 2024 was £23,033 (2023: £18,037). At 31 August 2024 £1,551 (2023: £1,953) was prepaid in respett 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 2024 was £6,669 (2023: £2,854). There were no amounts outstanding at the year end {2023: £nil). 15. Commitments There were no capital commitments at 31 August 2024 (2023: 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- 2024 2023 Within one year Between two and five 1,457 1,457 ears 16. Contingent Liabilities There were no contingent liabilities as at 31 August 2024 (2023: no contingent liabilities). 17. Hebden Wright Endowment The Hebden Wright Endowment has been reported within Airedale Methodist Circuit's accounts since the 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 the Circuit's churches. The Hebden Wright charity was dissolved in july 2022. The capital of £43,264 has been shown as an endowment at 31 August 2024 (2023: £39,994) and the generated income of £1,167 (2023 £1,156) has been shown as restricted. 19
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 18. Trustees The following trustees have held office since I September 2023: Jean Ainsworth Richard Arnold (resigned March 2025) David Ayrton Maurice Baren Tracy Birks (appointed September 2023) Denise Butcher Lindsey Butler janet Clark (resigned August 2024) David Clegg Glenda Coogan Claire Corp Phil Corp Kathleen Crabtree Sue Cutter Tony Denning Clare Dewhirst Fiona Green Christine Hambley Judith Hargreaves loyce Hartley (appointed May 2024) Pam Helyar Andrew Houldsworth David Howarth Peter Howarth lames Huntington Graham Iliff Pat Keene (appointed September 2024) Philippa Lupton Tricia Mitchell (appointed September 2024) Bryn Morgan (appointed September 2024) Ann Murgatroyd Kath Neal Christopher Partington (appointed September 2023) Anne Pearson Mary Peet Jenni Presland (appointed September 2024) Olwyne Pullen Brenda Quail Lena Robinson (resigned August 2024) Louise Rouse (resigned August 2024) Eileen Sergeant Helen Shallow Tim Sharp Graham Sheard (resigned August 2024) Julie Smith (appointed September 2024) Clare Stainsby Joanne Stokes Maureen Studholme (resigned August 2024) Emma Sutcliffe Ron Thompson (appointed September 2024) Dorothy Walker (appointed September 2024) Katherine Watson Christine Wood 19. Post balance sheet events There have been no post balance sheet events to note in the financial statements for the year ending 31 August 2024. 20
Airedale Methodist Circuit Notes to the Financial Statements for the Year Ended 31 August 2024 20. Comparative Statement of Financial Activities for the Year Ended 31 August 2023 Unrestricted Funds General Circuit Model Designated Restricted Fund Trust Fund Funds Funds Endowment Total funds Funds 2023 Income from: Donations Assessment or Share 186,615 186,615 9.192 58le of chapel Charitable artivities 9.192 Grants 3.000 11,349 3,000 11,349 3,778 Bingley Foodbank Other income 1,128 2,650 other trading activities Lettings Investment income 16,495 10.395 214.633 3.180 938 19,675 24,908 258.517 12.419 12,419 1.156 15,505 Total income 15.960 Expenditure on: Charitable activities: stipends and salaries District Assessments 149,789 54.360 11.091 14.661 19,717 3,000 152,789 54,360 12,721 23,980 43,667 17,459 Administration and travel 1,630 Insurance and utilities 9.319 23,950 5,636 2,330 Circuit property expenditure Other expenditure Grants payable Contributions to District Advance Fund Bingley Foodbank Independent examination 11,823 2,330 16,233 16,233 3,696 3,696 Total expenditure 265.137 1.630 41.235 19,233 327,235 Net income /(expenditure) before other recognised gains Reali5ed and unrealised gains on investments Transfers between funds Net movement in funds {50,504} 10,789 (25.275) (3,728) (68,718) (521) {785) (1,306) 354 358 (404.862) 335 014 345.803 (5,296) (4,884) (785) (70,024) Funds brought forward Funds carried forward 1.813.854 1 408 992 63.159 408 962 171.600 166 304 23,594 40,779 2,112,986 2 042 962 21