Charity Registratlon Number 1161615 rcult 11124 Staffordshlre Moorlands Method1# Cw¢￿t Hnabxial statern￿ forthe Year to 31 W 2020 Staffofdshlre M¢orlands Methodist Flnandal Statements forthe Ythrto 31 August 2020 Contents Apwoval ￿ Tra•sur•r •nd Ch•lr io stst•n•rt of Hn*Klal A¢tMtl•s 2019 li Notsstoth• An•nd•l Stst•m•nts Staffordshire IA¢)orfands Methodist Circutt Trustoos Annual report Introduction and aims he Staffcydshire Mcnrlands WhcKlist Circuit is c(rnitted to constantly seeking opportunities to transfm reoWe's lives through an and INing faith in Jesus Christ.. The work of our circuit is to iyayerfvlty discem the very Fertrular ways and partnerships through vknlch these alTr￿ mb3M be rTh)st fruittul in transfomiing lives a￿1 communtties. Our ciniit wofile reioKes in one EcumenKal Partswship bet4*en the Methodisl Church and the United Reforn￿d Church, self•¥eming Meth(MJist Churches class fellowships. In communty life together in market t￿ls, rural ¥illwJ88 aThS semi&urban Settings we seek to live out our faith, supporting and en(x)uragiry othw in ￿treaCh, mission and evangelism. The latter part of the past yèar has been like no other avmy has made demands upon the imagination and crealNtty of the Methodist people In thinkirvJ through and praying about 'drfferent' ways of worshipping and 8er¥irKJ. Muth of our Iii)rship has been online, our buildings opèn onty for essential communty provis#)n, and our p80p￿ encouraged to find new ways of being in fellowship ￿1th one another. We h8¥e suffered10s8, W8 have le8med too- and cany all this with us into the future. 8rl•f flnanclal r•vlow of th• y••r The flnancial offerlng of indNidual churches fo tyjr Circult budget Is $upplemnted In our commltment to investing in people by a regular arKI plannthj withdrawal from wh8t have been 8ignffunt reserves. We are pleased to have a team of staff whose gifts are many artd varied and we are thankful for the mlnisty of tPN)se who v•ith u$ as part of a 'District Team, alongsrde ordained staff. At the erKI of this year that team comrAises 3 chiklren and f8mlll$ workers (2 full timè equivalent posts), 1 pasttyal visrtor. 1 alminislrator, 3 ordained Ministers. This continues to be a sp3nificant Invest￿t, but the Circuit remains commltted to this level ol church and communty 8ThJagen￿)t *thrch is fftn frnre challenging given that we have many churches scattered over a ¥•vle area. Income and expendrture were bro&Jty in line vrith our miswn 8tatemèrrt and policy, our working deficit to be wthdrawn from reserves of £88,089 for investment in staffing. Thls, combined with sa16 prcKeeds of a manse sold of £255.747 ind a negative revaluatK)n on the remaining 4 manses I￿Ve8 the resutts'ng sutyus of £54.383 for the year. The level of reseTves is under c(xJstant revknv by the Circuit Treasurer and Leadership Team. The wort( of ministy In the circuit is a Fqrtnership t*t*een lay and ordained, paid and volunteer workers. and VIP offer our grateful thanks to one. DuriThJ the year to August 2020. we remember and gtve thanks for the ministy of C*bbre Beville, Circuit Administrator vthose work supported ministry in so many and varied wars. ar*Y tkn H85kn who served the circurt fa1thftj1￿ as volunteer Lay Worker over many years. Income trends Circurt income is primaTity dra￿Tr from the assessrrent paNJ by the circuit churches. This has seen a sliqht decrease over the year because of reduced numbers in many of the churches, and the challenge of keeping individual properties in gOC￿ order and compliant with Methodisl Stsnding Orders. In thlrtion. the closure of many buildings in the latter part of the year had an impact upon gFving. but we are grateful to the many people who fett able to cary on supporting the work in k¢al churches. Expenditure trends Stipend expenditure has increased financial year li line ¥￿th the Methodist Conferen approved increases. 15.2% of expenditure is the Circuit oyrtritth to the District anrnl Connexion, of which significant part is used to fund the w)rk ofthe knryder Klethodist Church. The Circuit currently has one manse sale pendiTh3. The balan￿ on Circuit Mr)Sel T￿￿t baTra￿ arnuTrted to £76,993 which was held on deposit with the Trustees for MethcwJi%t Church Purposes. The circuit recruited as Fert of our rnin￿ty team a Lay M[ss￿n Enabler part vray through the year. Plans for 2020r21 Circuit financial plans for the coming year have been prepared on the bask8 that there ￿maIn 3 full time ordained staff with anticipated cost ￿ li¥iNJ stitend increases C￿11?1n8d with the aSsess￿￿nt paid to the dtstrict. We are in the process of transferrFng the staff we have had sharing wrth us as District Team into Circuit employment, reccsnising their significant contribution to the overall ministy of the circuit. The basis for fuffilling these commitsnents reMa￿S a rAedge system for individual churches. This system will be miewed rf it continues to fall short of the W required, in the longer We continue to wew our calling in the light of the restrictions f￿d ty s(xiety at large, the age profile of our congregations and lftety resour￿ going forward. We viill be aiming to work more closety tcgether as congregations over the coming years. Basis of preparatlon and legal framework The Charty's annual report and accounts for the year ended 31 August 2020 have been prepa￿d in accordance with the Chartttes Act 2011 and the Charities.. Statement of Recommended Pr8Ctice 2015 as applicable to the Financial Reporting Standard(FRS) 102 Full Name of Charity.. Staffordshire Moorlands Methodist Circuit Registration Charity Number.. 1161615 Dat8 of registration: 11 May2015 Main comMunicat￿n address Tean M8th¢)dist Church, Gorsty Hill Road, Tean SlaffordshireST10 4EQ The members of th8 Slaffordshlre Mts)rland$ Melhodist Cr￿Ul1 meeting are the ChaTty Trustees, membership being made up of circuit office holdars, ministers and r8pres8ntatives apFointed by the local churches. Full membership 18 Shown as Apwndlx A to thls report. Clrcult Mlnlstsr• and offlcern (at August 31 2020 or 88rving duriThJ the year) Active Circuit Minister8 Rev Julie Hassall (Superintendent) Rev Richard Pope R8v Eleanor Smith Miss Sarah 88st- (retired 31.8.2020) Mr Don Haslam Idecdl Mr Mark Hatcher Mlss Abigail Ratcliffe Mr Jonathon Newl)ould Mrs Margaret Parkinson Mr Roger Cutts Mrs Maureen WBkin (Senior) Mrs Jane Ratcliffe Mrs Heather Bates Mrs Ruth Grocott Mrs Anne Thorfey Mrs Dorothy Dugdale Mrs Debbie Beville Idecdl Circuf( Lay Workers Clrcuit Meeting S8(Yetsry Circult Stewards Administrator: Mr Robin M¢Duell &ted as the principal officer overseeing the day-ttrday financi81 management and accounting for the circuit during the year. ndependenl examiner Mr oliver Newey ACA, Dove Cottage. Route de Cobo, Caslel, Guemsey. Channel Islands, GY5 7HD Bankers Lloyds Bank plc In¥estment Bankers Central Finance Board ofthe Methtsjist Church Ttuslees for Methodist Church purpc>ses Alms and oryanl8atlon Charity objectlve is to act as a ReSOu￿e provider within the area around Leek and Ch8adle, Staffordshire for the Methodisl Church: 'The purposes of the meth￿list Church are arKI sh811 be deemed to have been since the Date of Union the advancemenl of.. al The Christian faith in accordance with the doctrlnal standards and discipline of Th8 Methodist Church., bl Any charitable purpose for the Ilm8 being of any ConnexlonaS, District, Circult. local or other organi8ation of The Methodist Church., c) Any charitable purpose for the time belng of any 80cI8ty or instKutlon Subsidiary or ancillary to The Mdhodist Church; dl Any purp088 for the time being of any charty belng a charity 8ubsldlary or anclllary to The Melhodi8t Church The organlsation and resourcing of regular publlc acts of worshlp open to memb8rs of the church and non members alike. The teaching of Christlanty through som￿n8, courses and small groups. The re8ourclng of pastoral V￿rk includlng visiting the sick and ber68ved. Taklng religious assémblies in kxal Schools. ProrTh)tion of Chri81ianity through the stsging of events and servlc88. Provision of chaplaincy services to the local universty and other Institution8 Publlc Bonefit We confimi th8 trustees have had regard to the Charity Commission's guhlance on public benefit. The goveming document the circuit is the Deed of Union (1932) arnd Methodk8t Church Act (1976) Detailed governan￿ arrangerr*nts are outlined within the C¢)nstitutional Pr&tice and Discipline of the Methodist Church by order of the annual conference (CPD}. Day to day management of the cIr￿j1t is undertaken ty the Circuit Leadership team alorMJ with the Local Preathers meeting. the Circurt Finan￿ and Property Commtttee and the Circuit Poliw Commiitee. Tn￿ts• Training A range of guidan￿ F￿0￿uced by MetFthist ConnexKm to supwrt the effective running of the C1￿U￿. speciftcalty the kaflet The Role of a T￿slee in The Meth(*Jist Church. is given to all new Circuit rrwting r[*mb￿S as indudion to their role as trustees. Related Parti The Circuil is part of the Chester Sloke on Trent District arKI is also accountaI￿e to the Methodist Conference. The following Methcmjist Churches are linked to the circutt: Blakdey Lane, Boundary, Cheadle with Alton & Whiston, Dilhorne. Endon, Ipstones. One¢ote. Rudyard, Rushton, St Andrews Cheddleton. Tean with Leigh, T￿orr￿lIffe. Walerhouses Wetley Rocks. Trinty Church in Leek. whth is a Ikthodist & URC Local Ecumenical Partnership, is also part of Ihis circuit. Risk Management The major risks have t*en identified and rectxtsl by the Circuit Finance and Property Commrttee with professK)nal advice taken as required. TF*re is a regular annual reviw pyocess urnlwt4(en and recorded. Income and Expendtture is being monitored in total and is compared with Ihe approved annual budget on a haw yearfy basis to de￿* trends as part of the risk wnagement process to avoid Unfo￿Seen calls on reserves. Safeguarding Every person ha8Fa value and dwJnty which conw dirèctFy from the creation of male and female in God's I￿¥n image and likeness. Christkqns see this potential as fulfilled by G(Kl's re-Creat￿n of us in Christ. Armj other things thk8 implies a duty to value all people as bearing the image of GCKI arK1 thereth to them from Form. Methodist Connexional practKe oudines commitnwrt to the fdlowing principth: • the care and nurture of. and re$￿tful testoral ministry with, al children. young people and adults • the safeguarding and FXOtedK)n of all chihYrw¢. young and adults when they are vulnerable . the establishlng of safe, caring communities vthth provide a envircmment vthere th8re is informed vigik8nce as to the dangers of abuse. . We will carefulty select and train all those with ary res￿nSi￿￿11fy within the Church. in line wtth Safer Recruitment princifv. induding the use of criminal records d￿¢JO$Ures and registration with the relevant vettirvJ and barring schemes. • We will respond without delay to every conwaint rnade suggests that an adult, child or young person may have been hamEd, ccK)perating with the police and tocal authority in any investigation. . We WAI seek to work with anyone who has 8uffer•J abuse, devebphg with them an appropriate mlnlsty of inf0m￿d pa*or81 care. . We will 8e8k to ChaI￿nge any abuse (I p￿r, espe&alty ty anyon8 in a posltlon of trust. • We will seek to offer Woral care and 8uppx wKluding supeThi8lcm and refefral lo the proper authorities, to any rromber of our church communty to have offended against chikl, young per80n or Vulnerab￿ wjult. . In all th88e principles we will folkm legislatth. guidance and recognlsad good practice The Slaffordshire Moortands Circuit commlt8 Itself to en8uring the implementatron of Conn8xiono1 Safeguarding Policy; govern￿ent *ist8tA)n, guidance and safe practice In the circuit and In the churche8. The Staffordshire Circuit conwiiis itself to the prOvtsK￿ of supwxt, advice aThJ training for lay and ordained people that will ensure people are cbar and confident about their ro58s and responsibilities in 8afeguarding and W0￿￿tINj ￿lIar8 of children aThJ &lutts vlho may be vulnerable. Rè•ory08 Pollcy The Reserves Policy for the Circuil is to h(thJ a minimuro surn equivab8nt to 12 month8, average expendiliTre. This should be sufficient to meet any unforeseen ttem of major expenditu￿ on manses and l or to be able to conttnue. ￿ the shcwt tenn, kjnding planned activities in the event ofany inabilty to raise the full Circuit AssesThnt from Churches. Rev Julie Hass8H Superintendent Minister Independent Examiner's Report to the trustees on the unaudited financial statements of Staffordshire Moorlands Methodlst Clrcult I report on the accounts of the Stsffordshire Moorlands Methodlst Clrcuit for the year ended 31 August 2020, set out on pages 10 to 14. Responslbillties and basis of report As the charity trustees of the circuit you are responsible for the preparatlon of the accounts In accordance with the requlremenls of the Charities Act 2011 '{the Act).. I report In respect of my examination of the Trustee's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Dlrections given by the Charity Commissioner under section 145(5)(b) of the 2011 Act. Independent examingrs statement I have completed my examination. I can confimi that no material matters have come to my attention in connection wlth the examinatlon giving me cause to believe Ihat 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 T￿t accord with those records. or 3. The accounts do not comply with the applicable requirements cOn￿rnIng the fomi and content of the accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requirements that the accounts give a 'lrue and fair vie￿, 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. Oliver Newey ACA Dove Cottage Route de Cobo Castel Guernsey Channel Islands GY5 7HD May 2021 Staffordshlre Moorlands Methodist Circuit Treasurer I confirm that these accrual based accounts for the year ended 31 August 2020 hav@ been prepared from the records of the circuit and that they include all funds under the control of the Circu¥t Meeting. 14 Robin McDuell 21 Lorien Close, Leek, Staffordshire ST13 8NY 15th May 2021 Presentatlon to the Clrcuit Moetlng for approval I confimi that the annual report and accounts for the year ended 31 August 2020 were TH presented to the Circuit Meeting at its meeting on 13 May 2021 and were approved. Rev Julie Hassall (Chairl 15th May 2021 staffordshire Mooflands Methodist Circuil 1161615 statgm•nt ol Flnan¢i*l Athitlas ISOFAI lorth• year ended 31 Augu•t 2020 Notssto Clrculi Modèl Oqn*al Fund Tn￿t Ethdtswmwit Totsl accounts (Unr•￿￿¢t•0) Iuthrwtrfcted 201940 Income 1 tknrh•tK￿ and 2 Incorneftom rn￿81ary inv85ttNents 3 In¢>Jrnefrom invegtment pwparb 4 As8es¥mentts on Ctturches 5 R￿aipts 6 Grdnts rei%kv•J 7 Other ctsdtaNe inc*rr 8 TotAI Income Expenditura 1.511 15 203,063 203.063 3,938 20H.511 3.938 208A26 1S Y Gt8nts and thnations 10 SaLgrf*s and $s*)r4ated o¥Jsts 11 Propety mlth8n¢tr 12 COr￿eXi0￿al a5sessm8nt & rnoOeltnL8t 18 Disbith Asses5ment& Levy 14 15 offi￿ expen8e8 18 OlhèroutgcMng$ 17 Totsl chftrl¢ablo•xp•ndMu 18 Gain￿(10S￿e6I ￿ monetsry investmems ia GalWIIo$8a81 ￿ Investment woperbe 20 Ilet Incomgll•xpgndlturo1 21 Transfers bet￿ten 22 Other uaMWIIo&ses} YJ movqThent In funds 24Totèlfvnds broughtforward 25Total funds(athed fon¥a 115.B1e 115￿18 16,112 $,022 4&t56 45.158 111,eoo 291,594 111.600 296,615 $,022 43,082 -4rM)7 142,472 142,472 54,383 1,153.905 1,208,288 872.387 931.757 Z61.536 276,531 Staffordshlre Moodands Methodist Circuit 1161615 Statsment of Flnanclal Activitle$ {SOFAI for th• y•ar ended 31 August 2019 Clrcutt Mod G•noral Fund Tw8t Enthjwmgnt Totsi aGCOUIIi8 IUnrwtrlct•d) IUnro¥trkt¢dl Fundg 20t&19 Income 1 Dongbons aid feg8ti25 2 In¢￿￿tf￿>M rn￿81$ry In￿￿)￿nIG 3 I￿￿m&froM investment prowlias 4 Assessmentson Churrthes 5 Caplai ￿e￿pts 6 Grants re¢eived 7 olhercharitth*￿r 8 Total Inco Expenditure 9 GfantsAnd dorHtio 10 ￿arles8￿(la$s￿ate¢ costs 11 Prrwy maintw 12 Connexlon81 ￿￿eSsMant & rn008ltrwt 13 tXsiiiutA55esstMnt& Lvrfy 14 oepwabon 15 Oifre expense$ 16 other￿￿￿98 17 Total ¢haritablo•xpondkn 1B Ga￿S1<10s$8$) on MV8¥kn2nts 19 Gdn¥ithseg1 on investment prope￿8¥ 20 NBt Incomwiexponrtliur•l 21 Transfers betW￿n fu 22 Olhwgainsllb)8gesl 23 Net fflo¥om￿t In lunds 24Total funds brought forward Z5T0tslfiJa￿tscarr{ed fon¥ard 2.197 2.017 4314 210,354 210.354 2.449 214tKK) 2.017 217.￿7 109.4DB 94.837 109.40 94,837 13,839 45.632 13,839 45,632 4,754 101.058 3SS,689 4.764 101,058 369,528 -140.689 -1S1511 14.041 -154730 1.027.097 872.387 -14041 -fW,552 1.320.457 1,153,905 293,360 281,538 io staffOrdshi￿ Moorlands Methodist Circuit 1161615 Balance Sheet as at 31 August 2020 Gen8Tal Fund Clrcult Model Endowment Totat$ 2020 {Unrestrl¢tod) Trusts Funds (Unrnstrl¢t•d) Tota18 2019 Nots• to the Accounts Flxgd Assets Circuit Manses & EqLtipment Investment properties Investments 1,116.932 1,116.932 1.230,193 Total fixedassots 1.116,932 1.116.932 1.230,193 Curront Assgts Debtors Loans by the CiThit Investments with TMCP Central Finance Board Deposits 3.493 3,493 4,396 76,993 76.993 144.648 49,612 79,284 132,389 49,812 79,284 209.382 39,664 27,496 216,204 Cash at Bank and in hand Total currontassots Curr•nt liabilitlo$ Creditor¥ (due in under 1 year) Grants payable within 2019-20 Total curront Ilabilities Net currentassetsAlablllties 76.993 2.227 2,227 4,992 2,227 130.162 2.227 207,155 4.992 211,212 76.993 Total assets loss eunpnt Ilabilities 1.24Y,094 76.993 1.324,087 1,441A05 Long terni Ilabilities (due after more than one year) Grants payable after 2019-20 Loans to the Circuit 115,799 115,799 287.500 Not assets 1,131,295 76,993 0 1,208,288 1,153,905 Funds of the Clrcult General Fund (un￿$t￿Cted) Circuit Model TnJst Fund (UnTrstrictedl Designated Funds {Unrestrictedl Total Unrestrict8d Fund$ Endowment Funds Total Funds 1,131,295 1,131,295 1,027,097 76,993 76,993 293,360 1,208,288 1,320,4S7 1,131,295 li 76,993, 1.208,288 1,320,457 ## **Staffordshire Moorlands Methodist Circuit** ## **Notes to the Accounts** ## **1 Basis of accounting** The financial statements have been prepared under the Charities Act 2011 in accordance with the 2014 version of Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with FRS102 – the Charities SORP (FRS102) and taking note of the Update Bulletin 1 issued in 2016. ## **2 Funds** The funds held constitute: General Funds held for any purpose of the Circuit which are Unrestricted. The Circuit Model Trust Fund has wide purposes defined in Standing Orders and is categorised as unrestricted. The Endowment funds held at the start of the year have been released during the year to the General Fund Details of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash. ## **3 Accounting policies** ## **Basis** These accounts have been prepared on the basis of historical cost except that investments are shown at their market value at the end of the year, on the accruals basis to show a true and fair view of the Circuit’s financial position and activities. ## **Incoming Resources** Income is included in the Statement of Financial Activities (SOFA) when the Circuit becomes entitled to the resources, and the trustees are reasonably certain they will receive the resources; and the monetary value can be measured with sufficient reliability. ## **Resources Expended** This is recognised when a liability is incurred, or a constructive obligation arises, that results in the payment being unavoidable. Liabilities are recognised as soon as an outflow of economic benefit is considered more likely than not under the legal or constructive obligation committing the Circuit to pay out resources. ## **Grants** Grants made by the Circuit from its own funds are recognised in full at the time of agreement or when the Circuit accepts that there is a legal or operational obligation to make the payment. ## **VAT** Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers. ## **Tangible fixed assets for use by the Circuit** Tangible fixed assets are capitalised if they can be used for more than one year, and cost at least £500. The freehold property is shown in the accounts at the insurance value. No depreciation is provided on the buildings because the trustees consider the current residual fair value of the manse buildings (on the assumption that they had reached the end of its useful economic life by the year-end) to be not less than its current value. Any depreciation would not be material. The property has been reviewed for impairment.. ## **Investment Properties** Investment properties - no property is currently deemed to not be held for the long term purposes of the charity. ## **Investments** Investments are valued in the balance sheet at market value at the year end. Investment income is included in the accounts when receivable and any gains or losses on revaluation at the year end are shown in the SOFA. ## **Debtors and Prepayments** The prepayment included in the accounts is in respect of assessments received in early September in respect of the year and the deposit held in respect of the letting of the Ipstones manse by the letting agents. ## **Creditors** Creditors relate to the Independent Examination fees the deposit in respect of the Ipstones manse and sundry expenses. 12 ## **Staffordshire Moorlands Methodist Circuit** ## **4 Payment to Trustees** There were no payments made to trustees for additional services provided to the Circuit by agreement with the Circuit Meeting, this excludes stipends. |Trustee expenses
Number of Trustees
Total amount|**2019/20**
6
£893|**2018/19**| |---|---|---| ||6|6| ||£893|£1,417| Expense payments primarily relate to reimbursement for travel and computing costs ## **5 Fees for examination or audit of the accounts** |**s for examination or audit of the accounts**||| |---|---|---| |Independent examiner’s or auditors' fees for reporting on the accounts
Other fees (eg: advice, accountancy services) paid to the independent
examiner or auditor|2019/20
£
888
1,212|2018/19
£| ||888|888| ||1,212|1,212| ## **6 Paid employees** |**Staff Costs paid during the year were:**
Gross wages, salaries and benefits in kind
£
Employer’s National Insurance costs
£
Pension costs
£
Total staff costs
£
**Average number of full-time equivalent employees in the year**
**were:**|2019/20
90,566
7.709
17.541
115,816
4|2018/19| |---|---|---| |||84,935| |||7,512| |||16,961| |||109,408| |||| ||4|4| ## **7 Capital Commitments and Contingent Liabilities** At the 31st August 2020 there are no capital commitments. No Contingent liabilities were identified at 31st August 2020. ## **8 For information only Money received and passed on to External Organisations** |**Balance brought forward from last year**
Offerings/Gifts - received for External Organisations
Offerings/Gifts - passed to External Organisations
**Balance carried forward**|2019/20||2018/19| |---|---|---|---| ||£||£| ||100||100| ||0||0| ||0||0| ||100||100| 13 ## **Staffordshire Moorlands Methodist Circuit** ## **9 Tangible Fixed Assets** |||||||**Fixtures,**|| |---|---|---|---|---|---|---|---| |||||||**fittings**|| |||||**Other**||**and**|| ||**Land**||**Manses**|**buildings**||**equipment**|**Total**| ||**£**||**£**|**£**||**£**|**£**| |Balance brought forward||0|1,230,193||0|0|1230.193| |Additions||0|0.00||0|0|0.00| |Revaluations (+/-)||0|(113.261)||0|0|(113.261)| |Balance carried forward||0|1,116,932||0|0|1,116,932| |Brought forward||0|1,230,193||0|0|1,230.193| |Carried forward||0|1,116.932||0|0|1,116.932| ## **10 Investment assets** The circuit has no Investment properties The circuit has no common investment fund holdings ## **11 Loans** The Circuit currently has a loan amounting to £37.500 from the Methodist Chapel Aid and a Government Bounceback Loan of £25,000. In addition £53,299 is being held on behalf of Tean Methodist Church 14