CHARrtY REGISTRATION NUMBER: 1168391 Black Country Circuit Unaudited Financial Statements 31 August 2023 BSN ASSOCIATES LIMITED Chartered accountants 3B Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG
Black Country Circult Flnancial Slatsments Year ended 31 August 2023 Pa9es Trustees, annual report Independent examinerfs report to the trustees 1to8 statement of financial activities 10 statement of financial position 11 Notes to the financial statetnents 12to21
Black Country Circuit Trustees. Annual Report Year ended 31 August 2023 The trustees present their report and the unaudited financial statements of the charlty for the year ended 31 August 2023. R8fgronce and admlnistralivg detalls R8glster8d charlty namo Black Country Circuit Charlty r•gistratlon number 1168391 Prlncipal office Circuf( OffKe Leabrook Methodist Church Leabrook Road North WednesbLrry WSIO 7LY Ind¢p?ndent examiner Philippa Miller-Hawkes BA CA 3B Swallowfield Coutyard Wolverhampton Road Oldbury Wesl Midlands B69 2JG
Black Country Circuit Trustses, Annual Report (coniirtu8dJ Year ended 31 August 2023 structure, govèrnance and managemant The governing document for the Circuit is the Deed of Union (19321 and Melhodisl Church Acl119761 Detailed governance arrangements are outlined within the Constiiutional Practice and Discipline of the Methodist Church by order of the annual conference ICPD}. Day to day management of the Circuit is undertaken by the Circuit Leadership Team along with the Local Preachers, meeling. The members of the Blad( Country Circuit meeting are the Charty Trustees, membership being made up of circuit office holders, ministe[5 and representatives appointed by the Ictal churches. Mlnlsters Revd Ruth Child5 Revd Denise Williams Revd Juliet Kisob Revd Carole Holden ISupernumerary} Lay-workers Miss Diane Cripps {Administratorl lunlil 31108r20231 Mrs Heather Pearce (from April 2023) Local Preacher8 and Worship Leader Reprgsgntatlvgs Mr Trevor Allen Mr John Blewitt Mrs Jean Mason Circult Stewards Mrs Helen Allen Mr Donald Anderson Mr David Ashfield Mr lan Belcher Mr Malcolm Freeman Mr lan Palfreyman Mr Christopher Pearce (also L¢Kal Preachers Secretary) Ms Shirley Shelton Mr lan Thomson Circuit Treasurer Mr John Miller (Until 30th November 2023) Circuit Officers IProp8rtyl Mr Donald Anderson Mr Alex C¢x)ksey Clrcult Safoguardlng COrdInator
Black Country Circuit Trustees, Annual Report fconllnu Year ended 31 August 2023 Mr lan Belcher Clrcuit Representatlves to Synod Mrs Helen Allen Mr Stephèn Allen Mrs Rosemary Jones Mr John Blewill Circult Church Repre8entativ8s Beeches Road - Mrs Graee Peijmalu and Mr Robert Peumalu Charlemonl- Miss Linda Haywood and Mr Paul Reynolds Hill Top- MIS Joan Howes Lea Brook - Mr John Imlliams Methodist Centre - Mrs Jennifer Bibb, Mr Les1 Charters and Mrs Vanessa Hill New Road - Mrs Jean Mason, Mr Trevor len Park- Mrs Pat Foley and Mrs Gaynor Idles Roseville- Mrs Sylvia Morran, Mrs Kathryn Tumer, Mr Ronakj Turner and Mrs Sally-Anne Westwoc Ryders Green- Mr Terry Dawson. Mr Alex Cooksey Sl Andreyrfs - Mrs June Davies and Miss Margaret Morgan Tipton Green - Mrs MaTJorie Ashfield, Mrs Rosemary Jones. Mrs Margaret Moore and Miss Susan Sandbrook Toll End - Mrs Sylvia Harrison, Mrs Pauline HcKlgetts and Miss Pollard Wednesbury Icenlral & Woodsl- Mrs Judith Morgan. Mrs Esther Weslbury Wesley- Mr Stephen Allen, Mr lan Collett and Mr Malcolm Wills Trustee Trnining A range of guidance is produced by Methodist Connexion to support the effeclwe running of the Circuit, specifically the leaflet 'The Role of a Trustee in The Methodist Church, is given lo all new Circuit meeting members as induction to their role as Trustees.
Black Country Circuit Trustees, Annual Report(cotthued) Year ended 31 August 2023 Structur9> govgrnanca and management f¢oniinuedJ Circuit financial plans for the coming year have been prared on the basis that there remains 3 full lime ordained staff with anlicipaled cost of living stip8nd incTeases but with an increased, subsidised cost, of our administrator and any ministerial support worker that may be appoinl8d. The future number of churches in the Circurt cannot be predicted al present but, especially in view of the financial s(£ualion of some chuiche5,' the number of 5etvices to be covered in the Plan coupled with the number of presbyters in post and the reduction in lay preachers. Ih8re is a likelihood that some will close. Zoom meeting5 a likely tD conb"nue, al least in the short term, especially in winter months. as will the Circuit's new sub-committee structure as this is felt to be a vttal way for lay persons to support Presbyters. A group has been Sel up lo consider a community linked proied lo make good use of our reserves. This rTiay include employing one ftjll lime and one part time member of staff lo assist in developing what we hope will berne an exling venture for the Circuit. Objgctives and activities Aims and Organisation The purposes of th8 Methodist Church are, and shall be deemed lo have been since the Dale of Union, the advancement of.. al The Chrbstian faith in accordance with the dc¢trinal standards and discipline of The Methodist Church., b) Any charitable purpose for the time being of any Connexional, District, Circuit, Iccal, or other oiganisation of The Melhodist Church., c) Any charitable purpose for the time being of any soGiety or insthution subsidiary or ancillary to The Methodist Church- dl Any purpose for the time being of any charity being a tharity subsidiary or ancillary lo The Methodist Church. The Circuit produces a quarterly preaching plan to ensure that regular acts of worship lake plate at each of the 13 Methodist Churches in its geographical area. The Black Country Circurt 18 constituted to offer acts of worship in rts church communrf(ies and lo further the mission of the Church in Tipton, West Bromwich & Wednesbury. With our primary internal function being that of Christian worship, we organise acts of worship in each of the 13 Circuit churches every Sunday lin most case51. Our internal structure is based on a Circutt Meeting which meets twice a year, a Local Preachers, meeting which meets four limes a year", Circuit Leadership Team meetings throughout the year, and Staff Meetings which nomially meet fortnightty We endeavour to make our meetings more than just 'lalking shops,; they are the place where important decisions ore made and within them, we plan our slrategies and lulfil our role as Charity Trustees. Public Bgngfit We confirm the trustees have had regard lo the Charity Commission's guidance on publi¢ benefit.
Black Country Circuit Trustees. Annual Report (contlnu8dJ Year ended 31 August 2023 AGhigvgments and perfoan¢0 The financial year for year ended 31$1 Augu$t proved to be one of consolid*ion. Life has proved difficult for churche5 as they strive lo recover from the affects of the Covid pandemic. Income was IDSI due lo a reduction in congregation sizes and some loss of lellings. However il was good lo return lo normal worship services and there are signs in some ¢hur¢hes that new people are attending worship. The cosl-of-living increase continues lo cause increased expenditure particularty for gas and electricity resulting in some decrease of viability of some churche5 in the future. However most churches have maintained their contribution to the Circuit Fund in the current year. The Circuit éid announce the closure of Park Methodist Church in May 2023 and il was decided that the building woukj be offered for sale. This should take place in 2024. Following the resignation of Mrs Eloabelh Fadey lemployed as Pastoral worker until 31108r20221 il wa$ deeided to replace her with a part time pastoral assistsnl and Mrs Heather Pearce has been appointed lo this post effective trom April 2023. Since then in August 2023 Diane Cripps the Circuit Admirbistralor resigned: but we are happy to report that in September 2023 Mrs Karen Belcher was appointed as the new Circuit Adminislrator. The Circuit Finances are in a heatthy position thanks to the sales income from Moodands Methodist Church. Some of this income has been ring fenced for a Circuit project entitled Circuit Connect Project which intends lo fosler links between the church and the communtty. The first tranche of thi5 proje will be to appoint a Family and Children Worker. The situation with regard to Local Preachers in the Black Counlry Circuit is proving to be a difficult one. There are e1ve active Local Preachers plus three on trial and these plus the ministers have lo cover services in twelve churches. This means that there are a significant nurTbber of services that are covered by Local Arrangements. We also have once a quarter sector services which have met with varied success ané are constantly under review. Our mcdus operandum is inspired and celebrated in our main actwrties of worship and mission. Mission and work in our IcKal communtties is an essential part of our mission and there are communiry activities in mosl of our chuiche5: which have increased stgnrficantly post Covid. A significant part of the sales income from Moorfands has b ring fenced for the expenses linked with the Circuit Connect Project. Some progre55 has been tnade on this and we hope lo appoint a Family and Children's worker in the near future. Th15 is an ongoing project We still house two Ukrainian families in two of our Manses and this will continue next year. We would extend a big thank you to all those who have committed themselves to the work and mission of the Circuit and who provide invaluable support to the Minislefial and Administrative staff. The Circuit Leadership Team is very active in the lrfe of the Circuit and provide expertise in financial, property, worship and other facets of church Irfe and provide support lo all our churches.
Black Country Circuit Trustees. Annual Report (contlnu8dJ Year ended 31 August 2023 Flnancial revlew Circuit income is derived mainly from the assessments paid by the irbdividual CiTCUrt church?5 and during the year the 2S5essmenls were £191:777 12022 £192,268). Most churches pay by standing order on a quarterly basis: but some pay monthly lo lessen the burden on their cash flow. Interest received showed an increase at £19,453 due lo the investment of Moorlands sales income. There was grant income from the Districl in support of our Pastoral Support worker of £10.000. Minislerfs stipends and associated costs showed an increase reffecling the annual increase of sts"pends. Property costs rose due lo the Circutt now being responsible for the maintenance of the Park and Hallam Street churches. The Circuf( receNe5 rentsl income frorn Hallam Street tenants and this situation is under constant review. Park is awaiting sale by auction. All the chur¢h and manse properties are in a slate of good repair. As at 31 sl August 2023, unrestricted reserves excluding Land and Buildings stood at £599.435 12022 £636,033}. The Circurt finances are in a relatively healthy position due to the closure and sale of church properties not withstanding that individual churches are struggling lo break even. As a result £70:000 was made available to churches lo assist in any caprtal expenditure bul as al 31st August 2023 only £24,724 had been spent. The Circuit Leadership Team will continue lo monitor the financial affairs of the Circuit Plans for 2023124 Budgels for the coming year have been prepared on the basis that thw presbyters will be in post together with a paid part-time Circult Administrator and a paid part-time Pa51oral Support worker. The Manses situation will be kept under review bul there is a distinct possibility that further church closures may lake place and the properties sold. This will help to maintain a healthy Circuit financial profile. The Circuit Connect Project will be taken forward and the first part of tsking on a Famity and Children's Worker will hopefully be completed in the current year.
Black Country Circuit Trustees, Annual Report (cgnlinu6d) Year ended 31 August 2023 Financial rgvlew fconllnu¢ Re8ervgs Pollcy Gonèral It 1$ the Trustees, policy to maintain a balance of unrestricted and undesignaled funds equivalent tD around six months average unrestricted expenditure: lo cover unexpected requirements which may occur from tirne to time. Due lo the uncertain future of some ot our churches our reserves are currently above six months expenditure to support our future expenditure plans without having to impose subslanlial increases in annual as$e$5ments. Oui Teserves will diminish over the next few years as we subsidise the position of our planned Circuil Ministerial Support Worker and Circuit Adminislralor and the new community initiative. The policy of only sknwly reducing reserves has been vindicated in the curnt financial situation as some churches are facing serious financial problems bul the Circuit itself 15 in a strong posrtion to support the work of the Methodisl Church in the Black Country. Risk Managomgnt The m8jttr risks associated with the Circuit have been identifi&J by the Circuit Leadership Team. A regular review process is in place and is recorded. Saf•guardlng Every person has a value and dignity which comes directy from the creation of male and female in God's own image and likeness. Christians see this potential as Illed by God's re-creation of us in Christ. Arnong other things this impl5 a duty lo value all people as bearing the imag8 of God and therefore to prolè¢l them from ham. Methodist Connexional practice outlines commtlment to the following principles.. - the care and nurture of. and respectfvl pastoral ministy with. all children: young people and adults the safeguarding and protection of all children. young peDple and adulls when they are vulnerable the establishing of safe, caring communities which provide a loving environment where there is informed vigilance as lo the dangers of abuse. we will carefulty select and train all those with any responsibility within the Church, in line with Safer Recruitment principles, including the use of criminal records disclosures and regislralion with the relevant vetb'ng and barring schemes. we will respond without delay to every complaint made whtch suggests that an adult, child or young person may have been harmed, coopeiating wiLh the police and local authority in any investigation. we will seek to work with anyone who has suffered abuse, developing with them an appropriate ministry of infomied pastoral care. - we will seek to challenge any abuse of Pchver. especially by anyone in a position of trust. we will seek lo offer pastoral care and support, including supervision ané refertal to the proper aulhorilies, tD any member of our church community known to have offended against a child, young person or vulnerable adult. in all these PTinciples we will follow legislatM)n. guidance and recognised good practice. The Black Country Circuit eommils itsell to ensuring the implementation of the Connexlonal Safeguarding Policy, government legislation. guidance and safe practi in the circuit and in our
Black Country Circuit Trustees. Annual Report (¢onllnued) Year ended 31 August 2023 Flnan¢ial revlew (Mnllnued) churches, including catrying out enhance(l DBS checks as required. The Black Country Circuit commits rtsew to the provision of support, advice and training for lay and ordained people that will ensure people are clear and confident about their roles and responsibilities in safeguarding and promoting the welfare of children and adutts who may be vulnerable. We adhere to the church's Safer Recruitment Policy. Following the lifting of Cov119 restrickn'ons over the last connexional year and life starting to relum to normal: both Foundation Module and Advanced Module trainings have resumed. These have been conducted both online (using Zoom) and fac&lo-face. This approach has proved successful and will continue into this connexional year and for the foreseeable futu. Our prioTlty for Advanced Module Training has been our aderS of worship (Presbylers, Supemumeraries, Local Preacher5 and Worship Leaders) to ensure they can continue to in their roles beyond the church's 31 sl August 2022 deadline, After this date, those who have not undertaken Advanced Module Training cannot be on Plan. We achieved this target. DBS checks have continued to be carried out over the last coinnexional year. surpassing the number of checks undertaken in previou5 years. Our Circuit Safeguarding Officer, lan Belcher, continues lo meet regularty with our Church Safeguarding Officers both informally and al regularty held formal meetings lo ensure that best practice is being followed in our churche5 and that effective CmunICation about Safeguarding matters continues. lan'5 four priorit8, as agreed by CLT and the Circuit Meeting, for this connexional year remain.. - to ensure the correct level of training is urflaken by our church members, depending on their Tole . to ensure that DBS checks are carried out by OUT members, appropriate to their role lo ensure that the principles laid out in the Safer Recruitment Policy are known and adhered to lo support our Church Safeguarding Offic8rs in their work The trustees. annual report was approved on 8 August 2024 and signed on behalf of the board of trustees by.. Revd D Williams Trustee Mr D Ashfield Trustee
Black Country Circuit Independent Examiner's Report to the Trustees of Black Country Circuit Year ended 31 August 2023 I report lo the trustees on my examination of the financial statements of Black Country Circuit I'lh charity'l for the year ended 31 August 2023. Respon$ibilitie$ and basis of report As the trustees of the charity you are responsib for the preparation of the financial statements in acGordance with the requirements of the Charittes Act 2011 Ilhe Acl'l. I report in respect of my examination of the charty's financial slatements carried out under section 145 of th8 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under seelion 14515llbl of the A¢L Independent •xamlnerf8 Statement I have completed my examination. I confirm that no material matters have como lo my attention in connection with the examinats.on gNing me cause to believe Ihat in any material respect,. accounting records were not kept in respect of the charty as required by section 130 of the the financial statements do not accord wrth those rerords,. or the financial statements do not compty wf(h the applicable requirements concerning the forn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered a5 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 acwunts lo be reached. P. . ¥1£ Philippa Miller-Hawkes BA CA Independent Examiner 38 Swallowfield Courtyard Wolverhampton Road Oldbury West Midlands B69 2JG 8 August 2024
Black Country Circuit statsment of Flnancial Activities Year ended 31 August 2023 2023 Circuit model General lund trust lunrestn"ctedl {unrestrictedl Total funds 2022 Total funds Note Income and endowments Charitabl& aelivities Investment income Other income 201.777 22,190 6,057 201,777 35,579 6,057 202,298 668,669 1,251 13,389 Total Income 23Q,024 13,389 243,413 872,218 Expenditur8 Expenijiture on charitable activities Total expenditur8 254,589 24,212 278,801 278,801 499,284 499,284 254.589 24,212 Nel losses on investments 1,210 1.210 1,939 Net {gXPgnditurelllncom• and ngt movgmgnt In funds 124,5651 {12,033) 136.598} 370,995 Reconclliation of funds Total funds brought forward Transfer 1,425,617 87,324 480,416 187.3241 381.059 1,90e,033 1,535,038 Total funds carrled forward 1.488.376 1,869,435 1.906,033 The slalemenl of financial activities include5 all gains and h)sses rec¢yJnised in the year, All incomè and expenditure derive fiom continuing aclivilies. The notes on pag•$ 12 to 21 fomi part of these flnancial statemgnts. 10
Black Country Circuit Statement of Financial Position 31 August 2023 2023 2022 Note Flxgd assets Tangible fixed assets Investments 12 13 675.000 595.000 855.000 415,000 1,270,000 1,270,OJO Current a86•t8 Debtors Investments Cash al bank and in hand 14 15 15.064 381,059 234,129 63D,252 13,193 480,416 170,396 664,005 CrgditorB- amount$ falllng duo wilhin one yoar Net current assots 16 30,817 599,435 1,869,435 27,972 636,033 1,906,033 1,906,033 Total assets less current1Sabilitie8 Net assets 1,869,435 Funds ofthe chaiity Circuit model trust lunrestrictedl General fund lunrestrictedl Total charity funds 381,059 1,488,376 480,416 1,425,617 1,906,033 17 1,869,435 These financial statements We approved by the board of trustees and aulhorised for issue on 8 August 2Q24, and are signed on behalf of the board by.. Mr D Ashfeld Trustee The not•8 on pages 12 to 21 fom part of these financial statements. 11
Black Country Circuit Notes to the Financial Statements Year ended 31 August 2023 G•neral Informatlon The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Circuit Office, Leabrook Methodist Church, Leabrook Road North, Wednesbury. WS10 7LY. Statemgnt of compllance These financial stalem8nls have been prepared in compliance with FRS 102, The Financial Reporting Standard applicab in the UK and the Republic of Ireland,, the Slalement of Recommended Practice applicable lo tharities preparing Iheii accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 1Q21} and the Charities A¢t 2011. Accountlng policles Publlc benefit entity The Black Country Circurt meets the definitK)n of a public benefit entity under FRS 102. Assets and liabilities are initialty recognised al historical cost 0¢ transaction value unless otherwise stated in the relevant accourrting policy notes below. Basis of prgparatlon The financial statements have been Prepared on the historical cost basis, as modified by the Tevaluation of certain financial assets and liabilities and investment properties measured at lair value through income or expendilure. The financial statements are prepared in $terfing, which is the functional currency of the entity. Golng concern Based on the monetary assets and human resources available al 31 Augusl 2023, the Trustees believe that the Circuit is a going concem_ Dlsclosurè exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. A5 such, advantage has been taken of the following disdosure exemptions available under paragraph 1.12 of FRS 102.. la) No cash flow ststemenl has been presented for the company. Ibl Disclosures in respect of financial instruments have not been presented. Consolldation The Circuit has denominational regulatory oversight in respect of the work of the Churches within the Circuit but has no legal or operational control of those Churches and their governing bodies except in extreme circumstance$. For this reason, the h"nancial statemenls ol Churches within the Circuit are not consolidated into these financial statements. 12
Black Country Circuit Notes to the Financlal Statements fconthu8d) Year ended 31 August 2023 Accountlng pollcies (¢Olltinu Judgements and key sources of estlmation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experignce and other factors, in¢luding expectslions of future events that are believed to be reasonable under the circumstsnces. No significant estimates or judgements have been made by management when preparing the financial slalements. The policies follThved are shown belDW. Grants Grants made by the Circuii from its own funds are recognised in fvll at the time of agreement to make a grant. wilhout pertormance condilions or as and when the Circuit accepts that there is a legal or operational obligation lo make the payment if rt is subject lo performance conditions. When the grant is recurrent over more than one year the balance payable in future years 18 Irealed as a provision for future commthents in the Balance Sheet against the appropriate fund, the provision being released in in future years as instalments are paid in accordance with the originally agreed terms. VAT Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which il refers. Incomlng resources Income is included in the Statent of Financial ACtiVeS ISOFAI when the Circuit becomes entitles lo the resources, and the trustees are aSOnablY certain that they will re1ve the re50urces- and the monetary value can be measured with sufficient reliability. Rgsourcgs expended This rs recognised when a Itability is incurred. or a ¢onstructThie obligation arises, where the amount is reliably measurable and it is considered more likety than not that there will be an outftow of econotnic benefrt. Tangible assets These are capilalised if they can be used for more than one year. and individually cost al least £1,000. The freehold property is shown in the accounts al 2015 values following a revaluation of the properties by Wakeman Chartered Surveyors an independent valuer. No depreciation is provided on the buildings because the Iruslees consider the current residual value of the property in its present condition lo be not less Ihan its current value, and in the absence of any evidence of impairment, any depieciation provish)n would not be material 13
Black Country Circuit Notes to the Financial Statements (COmthue(Q Year ended 31 August 2023 Charitable activities Gen8ral fund Totsl Funds General fund Total Funds {unTestrictedl 2023 lunreslrictedl 2022 Assessmen15 on Churches District Advance Fund 191,777 10,000 201.T17 191.777 10,000 192,298 10,000 202,298 192,298 10,000 202,298 201.777 The Circuit comprtses of 15 churches and each is assessed for a contribution lo meet the overall nel costs of the Circuil. During 2017 the Circuit adopted a new method of raising ils assessments in order lo ensure Ihat each church's contn"bution is assessed on a fairer basis than that used in the past. The method lakes account, to some degree, of rnembership, attendance, income and reserves bul the increases are then reconsidered lo en$ure that no one church bears the brunt of a large in¢rease lor decrease) in their assessmenL Churches who are able to pay a little more than required help lo offset the burden on struggling churches. Investmènt income CirGurt model General fund trust Totsl Funds lunrestricted} lunrestriGted} 2023 Income from inveslmenl properties Income from cash investments Capital receipts 16,126 16,126 19,453 13,389 22,190 13,389 35,579 Circuit mDdel General fund trust Total Funds lunreslrictedl lunrestrictedl 2022 Income from investment propefknes Incomo from cash investments Capital receipts 5,590 620 5,590 2,066 661,013 668,S69 1,446 661,013 6.210 662,459 Other income General fijnd Total Funds Genero1 fvnd Total Funds (unrestr'cled) 2023 {unreslrictedl 2022 other charitable income 6.057 6,057 1,251 1,251 14
Black Country Circuit Notss to the Financial Ststements (¢onllnu¢d) Year ended 31 August 2023 Expenditure on charitable actlvities by fund typo Unrestricted Circuit General Model Trust Fund 2023 Fund 2023 Unrestricted Circuit General Model Trust 2023 Fund 2022 Fund 2022 2022 Grants and donations Salaries and associated costs District assessment and levy Connexional a$$e$$ment model trust levy Property costs Other oulgoings Office expenses 961 136,045 136.045 165,894 165,894 42,960 28,650 71,610 43,194 2,014 45,208 (4,4381 14,438) 42,639 30,672 2.273 240,405 240,405 40,014 2,612 4,190 42,639 30,672 2,273 40,014 2,612 4,190 254,589 24.212 278.801 256,865 242,419 499,284 Grants and donatlons Unre3tricted Circuit General Model Tru$t Fund 2023 Fund 2023 Unrestricted Circuit General Modèl Trust 2023 Fund 2022 Fund 2022 2022 Fund for Ihe support of presbyters and deacons Methodist Church Fund for property Outreach Project 720 720 200 41 200 41 961 961 Dlstrlct a8$essm¢nt and levy In commcin wrf(h other circurts in the Distnct: the Circuit pays an annual assessment to the Wofverh8mpton & Shrewsbury Dislriot of the Methodist Church. which is based on the number of Methodist Presbyters and Lay Workers wrthin each circuit. The Levy is calculated on a sliding scale percentage of the balance of the Circuivs CMT at 31 August in the previous accounting year. Unrestricted Circuit General Model Tnjsl Fund 2023 Fund 2023 Unrestricted Circuit General me1 Trust 2023 Fund 2022 Fund 2022 2022 District Assessment Di$tri¢t Levy 42,960 42.960 28,650 43,194 43,194 2,014 45,208 28.650 2014 42,960 28.650 71,610 43,194 2.014 Property ¢ost8 The Circuil is Managing TTU51ee for 6 properties. All are manses or forneT manses with fomier manses being let out on 6 month renewable shorthold leases. 15
Black Country Circuit Notes to thè Financial Statements (¢onthyu0rfJ Year ended 31 August 2023 Expènditurg on charitable actlvities by fund type IGontinued} Unreslricled Circuit General Model Trust Fund 2023 Fund 2023 Unrestricted Circuit General Model Trust 2023 Fund 2022 Fund 2022 2022 Insuranee, Council tax and ulililies General mainlenan¢e on manses and other CirGuII properties Legal costs sale of Moorlands MC Legal costs repossession ol Hill Top Manse 14,143 14,143 11,167 11,167 28,496 28,496 19,930 19,930 6.081 6,081 2,836 40.014 2,836 42.639 42,639 40,014 Other outgoings Unrestricted Circurt Genetal Model TTUSt Fund 2023 Fund 2023 Unrestricted Circuit General Model Trust 2023 Fund 2022 Fund 2022 2022 Independent exam fee Benevolent Fund Apprenticeship levy and payroll fee Gifts Capital prqect grants Accountancy fees Miscellaneous 1.440 1,440 300 329 300 329 99) 93 24,724 1,800 1.625 990 93 24.724 1,800 1.625 1,060 760 1,060 163 163 30.672 30,672 2,612 2,612 Offic¢ expgnses Unrestricted Circuit General Model Trusl Fund 2023 Fund 2023 Unrestricted Circuit General Model Trust 2023 Fund 2022 Fund 2022 2022 Website Printing, postage, stationery and telephone Computer costs Twelve Baskets and other worghip materials Office rènt Miscellaneous 556 556 377 377 1,635 1,635 1.721 1,721 583 1,300 159 583 1,300 1S9 82 82 2,273 2.273 4,190 4,190 16
Black Country Circuit Notss to the Flnancial Statements (¢onfynu¢dJ Year ended 31 August 2023 Indep¢ndent examination fges 2023 2D22 Fee5 payable to the independent examiner for. Independent examination of the financial statements 1,440 300 staff costs Unrestricted CiTcuII General Model Trust Fund 2023 Fund 2023 Unreslricled Circuit General Model Tmst 2023 Fund 2022 Fund 2022 2022 Presbyters Lay workers 118,455 17,590 118455 17.590 121,170 44,724 165,894 121,170 44,724 136,045 136.045 165,894 Pre6byt•rs Unrestricted Circuit General MTrJel Trust Fund 2D23 Fund 2023 Unrestricted Circuit General Model Trust 2023 Fund 2Q22 Fund 2022 2022 Slripends and allowances National insurance Pension costs 83.468 8.041 21.873 83,468 8.041 21873 80,053 7,642 20,840 80,053 7,642 20,840 113.382 4,169 57 113,382 4169 57 108,535 7,770 1,052 3,813 108,535 7,770 1,052 3,813 Telephone and travel Postage and stationery Mis¢ollaneous 118,455 118.455 121,170 121,170 17
Black Country Circuit Notes lo the Financial Statsments (continued) Year ended 31 August 2023 Staff costs (continued) Lay WOTkg15 Unreslricled Circuit General Model Trust Fund 2023 Fund 2023 Unrestricted Circuit General Model Trust 2023 Fund 2022 Fund 2022 2022 Salaries and allowances National insurance Pension costs 14,998 943 683 14.998 39,298 2,922 2,118 44,338 386 39,298 2,922 2,118 44,338 683 16,624 225 741 16,624 225 741 Telephone and travel Miscellaneous 17,590 17.590 44,724 44,724 stipends were paid to 3 full time Presbytets. Salaries were paHI to one fvll time and one parl time lay worker. No employees received employee benefits of more Ihan £6D:000. There is no accrual for holiday pay as it is immaterial. All staff are paMI at or above the living wage. Pgnslons Most Ordained Presbyters are members of the Methodist mInterS, Pension Scheme, which is a defined benefit scheme. The Suprerne Court held in 2014 that Melhodisl ministers are not employees ol the Church. For simplKty. however, when dealing with National Insurance Contributions and pension conlribulions, the terms 'employerf and 'employee' are used as they would be in an employing bc%Jy. On the other hand, any lay employees of the Circuit would be contracbjal employees and would have the opb.on of joining a penston scheme which the Circuit would arrange wff(h The Pension Trust. Costs of SuperinlendenL Presbytgrs and Trustses The Superinlendenl of the Circuit, the other Presbyters and the remaining members of the Circuit Leadership Team ICLTI are considered as Key Manayernent Personnel. The Superintendent chairs meetings of the CLT and Circuf( Meelings. The members of the Circuit Meeting are the trustees of the Circuit. The stipends, employevs NIC and ernployerfs pension contributions and other expenses of the Presbyters of the Circuit are paid by the Circuit. The manses are provided by the Circuit and the Circuit maintains the properties The value of Council Tax and water charges 1$ not disclosed here as HMRC does not regaid this as a benefit-in-kind in the hands of the minister. l O. Truste& remuneratlon and èxpenses Apart from the 3 Presbyters no member of the Circuit Meeting was in rlpt of any payment for work undertaken on behalf of the Circuit, allhough Gertain travelling and adminislratlDn costs were [MbUr8ed in particular cases. 11. Leasing commitments Al 31 August 2023 the Circuit had rto leasing commitments. 18
Black Country Circuit Notes to the Financlal Ststements (¢ofttinu8dJ Year ended 31 August 2023 12. Tanglble fixed assets Freehold property Cost Al 1 September 2022 Transfers 855,000 1180,0001 675,000 At 31 August 2023 Dèpro¢iation At 1 Sgptembgr 2022 and 31 August 2023 Carying amount At 31 August 2023 At 31 August 2022 675,000 855,000 13. Inve8tmenl8 Investment properties Cost or valuation At 1 September 2022 Transfers 415,000 180,000 595,000 At 31 August 2023 Impairn18nt At 1 September 2022 and 31 August 2023 Carrying amount At 31 August 2023 At 31 August 2022 595,qOO 415,000 All investments shown above are held al valuation. Inve$tment propgrtlas Inveslment properties consist of three fomer rnanses currenlfy let under the governmenfs sGheme to assist Ukrainian refugees. 14. Debtors 2023 2022 Other debtor$ 15,064 13,193 19
Black Country Circuit Notes to the Financial Statements (ooftthued) Year ended 31 August 2023 16. Investments 2023 2022 Model Trust Fund 381,059 480,416 The funds that SUPPOrt the Circuit Model Trust Fund are held by TMCP in the Trustees Interest Fund Dn which interest is credited each month. TMCP is the legal owner and custodian trustee of all Methodist model trust property including legacies, endowments and accumuialed funds. 16. Creditots.. amounts falllng due within one year 2023 2022 A¢cruals and deferred income Other creditors 1.070 29.747 5,747 22,225 30,817 27.972 17. Analysis of charltabl¢ funds Opening balance Gains on Income invesknents Closing balance Transfer Expendfture General Circurt Model Trust Fund 11,425,617) 1230.024) 1480,4161 {13:389) 11,9Cf,0331 {243.413) {87,3241 87,324 254,589 11,488,376) 24,212 1381,0591 278.801 11,869,435) 1,210 1,210 18. Analysls of net assèts bètween funds Circuit model General fund trust Total Funds (unrestricted) lunre$tri¢ledl 2023 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 1.270,000 1,270,000 381,059 249,193 130,8171 1,869,435 381,059 249,193 (30,8171 1.488.376 381.059 Circuit model Geneial fund trust Total Funds (unreslrictedl lunreslrictedl 2022 Tangible red assets Investments Current assels Credilors less than 1 year Net assets 1,270,000 1.270,000 480,416 183,589 (27,972 1,906,033 480,416 183.589 (27:972} 1,425.617 480,416
Black Country Circuit Notes to the Financial Ststsments (ctsniinued) Year ended 31 August 2023 19. Relatgd parties Related Parties include The Methodist Connexion, the Wolverhampton & Shrewsbury District, Churches within the Circuii Ili$ted below). CFB and TMCP. Beaches Road Charlemonl Hallam Street Hill Top Lea Brook Methodist Centre New Road Park Roseville Ryders Gr*n Sl Andrews Tipton Gree Toll End Wesley Wednesbury Central Woods 21