BAThERSEA AND WANDLE VALLEY CIRCUIT
Charity Registration number- 1185469
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, AUGUST 2024

BAThERSEA AND WANDLE VALLEY CIRCUIT
Charity Registration number- 1185469
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, AUGUST 2024
TABLE OF CoNTE￿s
PAGE
Charity Information
Trustees RekM)rt
2to6
Auditorfs Report
7t010
Statemenl of Financial Activities
11
Balance Sheet
12
Notes lo the Financial Statements
13to24

BAThERSEA AND WANDLE VALLEY CIRCUIT
Charity Registration number- 1185469
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, AUGUST 2024
CHARITY INFORMATION
Principal address
20-22, York Road
Battersea
London. SWI13QE
Bankers -
LLOYDS BANK PLC
25, Gresham Street,
London EC2V 7HN.
CENTRAL FtNANCE BOARD
9. Bonhill Street,
London. EC2A 4PE
Accountants and Auditors
Adomako Basoah & Co.
Chartered Certified Accountants
Registered Auditors
45, Tindale Close
Sanderstead
South Croydon
Surrey. CR2 ORT
page I

BAThERSEA & WANDLE VALLEY CIRCUIT
TRUSTEE5 REPORT AND ACCOUNTS FOR THE YEAR ENDED 31, AUGUST 2024
The Trustees present their report together with the Audited financial statements for the year
ended 31 August 2024
BASIS OF ACCOUNTS PREPARATION
The financial statements have been prepared in accordance with "Accounting and
Reporting by Charities- Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standèrd applicable
in the UK and Republic of Ireland { FRS 1021 Isecond Edition)" and the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland l FRS 1021
and the Charities Act 2011 and UK Generally Accepted Practice as It applies frorn
lJanuary2015.
The financial statements have been prepared to give a "true and fair View and have
departed from the Charities l Accounts and Reports l Regulation 2008 only to the extent
required to provide a "true and fair view" Thls departure has involved following
"Accounting and Reporting by Charities '. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland l FRS 1021 I Second
Edition I rather than the Accounting and Reporting by Charities . Statement of
Recommended Practice effective from I, April 2(X)5 which has since been withdrawn"
The disclosure above is necessary as the Charities l Accounts and Reports l Regulations
2008 have not been amended to permit the use of the SORP { FRS 1021. It is
recommended by the Charity Commission in section 8 of their publication "charity
reporting and accounting: the essentials, March 2015" which is available from their
website.
The financial Statements have been prepared in accordance with the accounting policies
set out in Note 2 to these accounts, and in accordance with the governing document of the
Circuit
GOVERNING DOCUMENT AND OBJEcfivE
The governing document for the circuit is the Deed of Union119321 and the Methodist Church
Act119761.
The Purposes of the Methodist Church are and shall be deemed to have been Since the date
of the union, the advancement of-
lal the Christian faith in accordance with the dortrinal standards and discipline
of the Methodist Church:
Ibl any charitable purposes for the time being of any Connexional. district. Circuit,
local or other organisation of The Methodist Church,.
Icl any charitable purpose for the time being of any Society or institution 5ub5idiory
or ancillary to The Methodist Church.
Idl any purpose for the time being of any charity subsidiary or ancillary to The
Methodist Church.
In striving to achieve its objettives. the Trustees give careful conslderatlon to the Charlty
Commission's general guidance on publi¢ benefit.
Page 2

BA￿ER5EA AND WANDLE VALLEY CIRCUIT
TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31. AUGUST 2024 1 contlnued I
We confirm that the Circuit is a public benefit entity as defined by FRS 102.
The Circuit Tru5tee5 have paid due regard to guidance issued by the Charity Commission in
deciding what artivitie5 the Circuit should undertake.
Mi55ion Ststement
Our mission is to stimulate and support Christian people in their life of faith and to build a
lively and friendly Christian community which 15 committed to working with other5 in the
neighbourhood and in the Borough5 of Wand5WOrth, Merton and Sutton in response to
human needs and the building of a just society.
As we faithfully listen to God in prayer we will seek to achieve the following-
> To provide the structure for enabling worship, pastoral care and training
to take place in and through out our circuit churches.
> To enable and support work directed outwards into our local communities
in service and social artion.
> To provide resource5 for church development and growth.
> To reco8nise and rejoice in the diverse social. ecumenical and inter-faith
context which underlies all that we do.
> To provide the administrative support which will release and enable the
members of our churches to live out their calling to worship, learning and taring
Service and evangelism
God ha5 been. and is. our strength in times of challenges in our mission and in our journev,
has and will continue to be our 8uide. We pray for HIS continued presence with u5 in all our
endeavours.
REFERENCE AND ADMINISTrATIVE DETAILS OF THE CHARITY, ITS TRusfEES
AND ADVISORS
The Circuit is managed on a day to day basis by the Superlntendent Minister together with
two other Ministers, paid support staff. and volunteers.
The Managing Trustees meet from tlme to tlme to oversee the Cirtuit matters.
Management Strurture
Superintendent
Superintendent
Mln15ters
Revd Rosamund Hollingsworth I termlnated 31108120251
Revd. Jannlfer Matthews l Jolned 01109120251
Revd Japhet Kabilu.
Revd. Saidu Kanu
Circuit Stewards
Mr Edward Oppong
Mr Kojo Amoah-Arko
Ms Doreen Daley
Mrsjoyce W Campbell
rcuit Treasurer
Mr Stephen Hienno
page 3

BArrERSEA AND WANDLE VALLEY CIRCUIT
TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31, AUGUST 2024 1 Continued )
STrUCTURE. GOVERNANCE AND MANAGEMENT
The governing docurnent for the circuit IS the Deed of Union119321 and the Methodist Church
Act119761.
Detailed governance arrangements are outlined within the Constitutional Practice and
Discipline of the Methodist Church by order of the annual conference ICPDI.
The Connexional office implements decisions made by conference and 15 a150 responsible
for the stationing of Pre5byter5 in individual Circuits.
Connexional decisions are passed to the Chair of the District and appropriate officers of the
District for Regional implementation.
The Di5trirt passes contml down to Circuit level for local implementation by the
superintendent Minister. Ministerial staff and Circuit stewards via the medium of the Circuit
Meetings.
Membership of the Circuit Meetin8 is laid down in the Constitutional Practices and
Discipline of the Methodist Church. The members of the Circuit Meeting are the Trustees of
the Circuit.
TRUSTEES
The Trustees of the Circuit are selected from a given office holders of the Methodist Church
The members of the Circuit Meeting are the Managing Trustees of the Circuit.
Due to the number of individual churche5 in the circuit and the fatt that the majority of the
Circuit meeting members are those elected by individual churches, it 15 clear that the make-
up of the Meeting is subject to frequent change5. It is therefore ifflpractical to list all the
names of those serving, but in summary. there were 33 tru5tee5 in the Circuit as at 31, August
2024. A list of trustees is entered and updated on the Charity Commission web51te on
regular basis.
CHURCHES WITHIN THE CIRCUIT
The Circuit is part of the London District, and is also accountable to the Methodist Conference.
The following Methodist Churches are linked to the Circuit.
Battersea Methodist Mission
Broomwood Methodist Church
Mitcham Methodist Church
St Heller Methodist Churth
St John's Methodist Church
Tooting Methodist Church
Upper Tooting Methodist Church
ACHIEVEMENTS AND PERFORMANCE
The Circuit has Placed emphasis on promoting and equipping Lay preacher5 through the
provision of traininE and development opportunities, and on identifying and promoting the
gifts and ski115 ' among the people of our churches to meet the challenge of 'our calling,.
To date. the Circuit ha5 21 accredited. l on note and 3 on trial Local preachers. Also identified
are 4 worship leaders in training.
The Circuit made a grant of £26,(NX) to St. Heller Methodist Church towards the refurbishment
of the church's cottage sltuated within the premises of the church. following an outbreak of
fire to the premises.
page 4

BAThERSEA AND WANDiE VALLEY CIRCUIT
TRUSTEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 31, AUGUST 2024 ( Contlnued )
FINANCIAL REVIEW
The Circuit made a net income of £72,24012023 - deficit of £15,766) before a £421 net 8ain
12023- £241 deficit l on the revaluation of TMCP trusts investments in the year.
The overall result for the year was an income of £72,66112023- deficit- £16,IX)71
The Circuit assessment is the main backbone of the Circuit's income. The assessment income
IS supposed to be sufficient to ensure that the Circuit carries out its functional dutie5 Qf
overseeing and supporting the local churches.
Various factors are taken into account in arriving at the individual local churches, assessments,
and st is felt that a fairer system of assessment is currently in place.
Rental income of the Circuit plays a significant role in the Circuit's finances
It is the intention of the Circuit to continue to rent out all its current five properties for the
foreseeable future.
Re-classrflGitlon of TMCP Trusts
The TMCP trusts have hitherto been treated as Current Assets Investments.
The trustees reviewed this position in 2023 and decided to reclassify such trusts as fixed
assets investments because they consider these trusts to be held for long term purposes
(rather than short term ). These trust remain liquid, but they are held for their investment
potential. The trusts are not held specifically for resale or expected to be realised within
12 months from the year-end131/081120241 date.
Transfer of TMCP trust funds to the Circuit
The Southfield Methc#Yist Church ceased worship in 2019..
As part of the cessatK)n package of its TMCP trusts l Gladys Freshwater Bequest and Bgmi¢e
Muriel Hiller bequest ) were transferred lo the Battersea and Wandle Vallay Circuit. The transfer
process was completed in 2024. The balance on the 8emice Muriel Hiller bequest { £7.833.03 } was
transferred into the Model Trust Fund {trust 340 1 during the year.
The Gladys Freshwater trust retained ils 118me ané trust number, but ils management and
ownership were changed from Southfield Methodist Church to 8atter5ea and Wandle valley Circult
during the year.
Resetve Policy.
The Trustees endeavour to maintain sufficient ReseNes to ensure that the Circuit is on
"going concem" basis at all times.
The balance of the unrestricted fvnds al 31 August 2024 was £3,787.400 { 2023- £3.764.4051. This
includes the value of the Fixed Assets of £3.720.468 thereby leaving a nel liquid balance of £66,932
for the general running of the Circuit.
Our reserve5 policy 15 to hold at least 6 month'5 expenditure. With the current level of
annual expenditure of £299K, the expected level of Rese￿eS should be £149K, comparèd t
the actual readily available reserves I Circuit General Fund balante less properties value I
1 £3.787K- £3,720 K l of £67K. The re5erve5 are substantially less than the required level and
the Trustees intend to take the appropriate measures to bring the actual reserves in line with
the expected level.
The Sir Henry Holloway Trust (Endowment fund) balance at the end of the year was £5,861.
This is a fund set up specifically to use part of the income to contribute towards the stipend
cost of a Deaconess employed by Upper Tooting Methodist Church and a payment to the
Superintendent Minister of the Circuit which the Upper Tooting Methodist Church is part of.
The net income earned in the year under review is £164. An amount of £149 was transferred
from the Endowment Fund to the main bank current account of the Circuit.
page 5

BArrERSEA AND WANDLE VALLEY aRCUIT
TRu￿EEs REPORT AND ACCOUNTS FOR THE YEAR ENDED 31, AUGUST 2024 { Continued )
Risk Analysis
The Trustees continue to examine the principal area5 of operation5 and consider what major
risks that could arise in each of these areas. Appropriate resources and review system5 are
put in place to minimi5e such risks to an acceptable level wherever risks are identified.
The Circuit Leadership Team has further introduced a risk register which is designed to control
and monitor the risk activlties of the Circuit.
PLANS AND PAsf ACTIVITIES.
All the fNe investment properties of the Circuit available for renting are now fully rented out.
Goln8 Concern
After reviewing the "going concem" assessment of the Circult. we have concluded that the going
¢oncwn basi5 remains an appyopriate basis of weparing these financial statements.
Statement of Trustees, Responsibilitles.
trustees are responsible for preparing the Trustses, report and financial slal8ments in ac¢ordan¢e
with applicable law and Uni18d Kingdom Accounlng Standards (United Kingdom Generdlly Accepted
Accountir)g Praclicel.
The law applicable to charities in England and Wales requires the trustees lo p￿pare aGGounts
for each Financial year which give a true and fair view of the state of affairs of the circuit and of
the incoming resources and applicab'on of resources of th8 Circuit for that year.
In preparing these accounts. the trustees are required lo:
select suitable accountlrKJ policies and then apply them consislenlly.
observe the methods and principles in the Charities SORP.
make judgements ané estimates that are reasonable a￿1 prudent.
slate whether applicable awounling standards have been followed. subject to any
material departures disclosed and explained in the aGcounls,' and
Prepare the accounts on a going concern basis unless il is inappropriate lo
presume that th8 church will continue in operation.
The trustees are responsible for keeping suffKienl accountlng records that disdose, with
reasonable accuracy at any tsme, the financial position of the Church and that enable them lo
ensure that the accounts comply with the Charities Act of 2011, the appropriate Charity
Ac(xJunts and Reports) Regulations and the provisions of the Irust deed. They are also
responsible for safeguardlng the assets of the Church and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
APPROVAL
This Report was approved by the Circurt tnJsle8S On
signed on it5 behalf by .
IA
-.2025 and
Ms Doreen Daley
Senior Clrcult Steward
page 6

INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF BAThERSEA AND WANDLE
VALLEY CIRCUIT
REPORT ON THE FINANCIAL sfATEMENTS
QUALIFIED OPINION
We have audited the financial statements of Battersea and Wandle Valley Circuit l The Circuit I
for the year ended 31, Au8USt 2024, which comprise of the Statement of Financial A¢tivitie5,
the Balance Sheet, and the related notes to the financial statements, including a summary of
signwricant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable Law
and United Kingdom Accounting Standards, including Financial Reporting Standard 102, The
'Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland"
{ United Kingdom Generally Accepted Accounting Practice)
In our opinion except for the effects of the matter described in the basls for qualified
opinion section, the financial 5tatement5-
> give a true and fair view of the Circuit's state of affairs as at 31, August 2024
and of its incoming resources and application of resources for the year then
ended
> have been properly prepared in accordance wlth United Kingdom Generally
Accepted Accounting Practice.. and
> have been prepared in accordance with the requirements of the Charities
Act 2011.
BASIS FOR QUAUFIED OPINION
The values of the Circuit properties in these accounts are at Methodist Insurance
Company's "insured values" The "insured values" are nelther "Original Costs" nor
"fair values arising from proper valuations of the properties. Instead the 'insU￿d values"
are the "replacement Costs" of the properties.
The valuations do not separate the value of the Land from the value of the buildings.
Consequentlyi the valuations of the properties in these accounts do not conform to the
United Kingdom Generally Accepted Accounting Practice l FRS 102 1 which requires
properties to be shown in the accounts at either original costs or'fair value5"1 FRS 1021
and the value of land to be separated from the value of the buildings.
The same valuation bas15 was applied In the previous year's financial statements.
Consequently the current year's financial statements ènd the opening balances of the Clrcuit's
financial Statements could contain errors and misstatements which materially could affect
the current year's financial ststements.
We conducted our audit in accordance wvth International Standards on Auditing l UK I IISAS
IUKI and applicable law. Our responsibilities under those standards are further described in
the Auditor's responsibilities for the audit of the financial statements sertion of our ￿pOrt.
We are independent of the Circuit in accordance with the ethical requirements that are
relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibllltles in accordance with these
requirements.
pag8 7

INDEPENDEThTh AUDITOR'S REPORTTO THE TRUSTEE5 OF BAThERSEA AND WANDLE
VALLEY CIRcurr
W8 believe that the audit evidence we have oblained is sufficient and appropriate lo
provide a basis for our qualified opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustees, use of the
"going concern" basis of accounting in the preparation of the financlal statements is
appropriate.
Based on the work we have performed, we have not identified any material uncertainties
relating to events or conditions thal individually or collectively, may cast significant
doubt on the Circuit's ability to continue as a going concern for a period of at least
twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with ￿spert to "goin8 Concern" are
described in the relevant sections of the report.
OTHER INFORMATION
The other information comprises the information included in the annual report other than
the financial statements and our auditor's report thereon.
The Trustees are responsible for the other information contained wlthin the annual report.
Our oplnion on the financial statements doe5 not cover the other information and, except
to the extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon.
Our responsibility is to read the other infom)ation and, in doing so, consider whether the
other information 15 materially inconsistent with the financial statement5 or our knowledge
obtalned in the course of the audit or otherwise appears to be materially misstated. If
we identify such material inconsistencies or apparent material misstatements. we are
required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If. based on the work we have performed, we conclude that there
15 a material misstatement of thi5 Other information, we are required to report that fact.
We have nothing to report in this regard.
MAThERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
Except for the matter described in the basis for qualified opinion of our report, we have
nothing to report in respect of the following matters in relation to whith the Charities
(Accounts and Report l Regulations 2008 require us to report to you, if in our opinion
> the information given in the tru5tees' report is inconsistent in any material respect with
the financial statements: or
> sufficient accounting records have not been kept; or
> the financial statements are not in agreement with the accountlng retord5 and retums; or
> We have not received all the information and explanations we required for our audit.
RESPONSIBIUTIES OF THE TRUSTEES
A5 explained more fully in the Trustees. Responsibilities Statement set out on page 6
the Trustees are re5pon5ible for the preparation of the financial statements and for being
sat15fied that they give a true and fair view, and for such internal control as the trustee5
determine is necessary to enable the preparation of the financial statements that are free
from material misstatement. whether due to fraud or error.
In preparlnE the financial statements, the trustees are responsible for assessing the Circuit'5
ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to
Ilquidate the Circuit or as to cease operations, or have no realistic alternative but to do so.
page 8

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BArrERSEA AND WANDLE
VALLEY CIRCUIT
I contlnued )
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS.
We have been appointed ès Auditors under Section 144 of the Charities Act 2011, and report
in accordance wlth the Att and relevant regulations made or having effect thereunder.
Our objertives are to obtain reasonable assurance about whether the financial statements as
a whole are free from material misstatement. whether due to fraud or error. and to Issue an
auditor's report that includes our opinion. Reasonable assurance is a high level of a55urance,
but is not a guarantee that an audit conduded in accordance wlth ISAS l UK I will always
detect a material misstatement when it exists. Misstatement can arise from fraud or error
and are considered material if, individually or in aggregate, they could reasorbably be
expected to influence the economic decisions of users taken on the ba515 of these financial
statements.
The extent to whlch our procedures are capable of detecting Irregularities, including fraud is
detslled below.
> A5 part of an audit in accordance wlth ISAS IUKI, we exercise professional
judgement and maintain professional scepticism throughout the audit.
> At the commencement of the audit, we obtained an understanding of the legal
and regulatory framework applicable to the Circuit. and how the Circuit is
complying with that framework.
> We assessed the susceptibility of the Circuit's financial statements to material
misstatement, Including how fraud might occur
> Our engagemènt principal's assessment of whether the engagement teom
collertively had the appropriate competence and capabilities to identify or
recognize non-compliance with laws and regulations.
> all matters about non-compliance with laws and regulations and fraud which
were detected by the engagement team were to be communicated to the
engagement principal.
> Evaluate the overall presentation, structure and content of the financial
statement5, includin8 the disclosures, and whether the financial statements
represent the underlying transactions and events in a manner that achieves fair
presentation.
A further description of our responsibilities for the audit of the financial statements is located
on the Financial Reporting Council'5 webslte at .'https' l/www.frc.org.uVauditorresponsibilities.
This description forms part of oijr auditor's report.
USE OF OUR REPORT
Thi5 report is made solely to the Circuit trustees, as a body. in accordance with Part 4 of the
Charities l Accounts and Reports I re8ulation5 2008. Our audit work has been undertaken so
that we might state to the Circult's trustees those matters we are required to state to them in
an auditor's report and for no other purpose. To the fullest extent permitted by law, we do
page 9

INDEPENDENT AUDrroR'S REPORTTO THE TRUSTEES OF BA￿ERsEA AND WANDLE
VALLEY CIRCUIT
( contlnued )
not accept or assume responsibility to anyone other than the Circuit and the Circuit trustees
as a body, for our audit work. for this report, or for the opinions we have formed.
. 2025
Adornako Basoah & Co.
ststutory Auditor
45, Tindale Close
Sanderstead
South Croydon
Surrey. CR2 QRT
ADOMAKO BASOAH & CO is eligible for appointment as Auditor of the Circuit by virtue of its
eligibility for appointment as auditor of a company under section 1212 of the Companies
Act 2006.
Page 10

BATTEFISEA AND WANDLE VALLEY CIRCUIT
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31, AUGUST 2024.
Note
Unrestrictec Restricted Endowme
Total
2023
INCOMING RESOURCES
Charwtable Artivities
117,898
117.898 114,7CKI
Investrnent income
196,468
164
196,632 194.211
Separate Materlal Item of Income
7,833
49,245
57,078
Other Income
99
99
322.298
49409
371.707 308.911
RESOURCES EXPENDED
Expendlture on Raising Funds
Expenditure on Charitable Activities
Other5
30,369
252,911
16.171
16
30,385
18,872
252,911 267,234
16,171
38,571
4.2.3
TOTAL RESOURCES USED
299,451
16
299,467 324,677
Net income before investment gains in the year
22,847
49393
72,240
-15,766
Gains on Revaluation of Investments
421
421
-241
NET INCOME
22,847
49814
72.661
-16,007
Transfer between Funds..
148
NET INCOME FOR THE YEAR
22,995
49,666
72,661
-16,007
BALANCE BROUGHT FORWARD
2,336
Q 3,772,181 3 788 188
BALANCE CARRIED FORWARD
3.787,400
2,336 55,106 3,844,842 3 772 181
All activities are derivgd from Gonlinuing operallons
There are no further recognised gainsl (losses) other than the surpluslldeficil) for the above financial year.
The notes on pages 13 to 24 form an integral part of these financial stalemenls.
page11

|`2,784,348`||`2,781,565`|
|---|---|---|
|`86,930`|`86.930`||
|`3,823,205`|`3,880,647`||
|`3,787,400`|`3.844.842`||
||`55.106`||
||`2,336`||
|`3,787,400`|`3,787,400`||
|`3,787,400`|`3,844,842`|`3,772,181`|



## 



BAThERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31. AUGusf 2024
I. BASIS OF ACCOUNTING
1.1 The financial statements have been prepared in accordance with"Accounting and
Reporting by Charities.. Statement of Recommended Prartice applicable to charities
preparing their accounts in accordarbce with the Financial Reporting Standard applicable
in the UK and Republic of Ireland l FRS 1021 (Second Edition)" and the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland l FRS 102)
and the Charities Act 2011 and UK Generally Accepted Practice as it applie5 from
l January 201S.
The fir)ancial statements have been prepared to give a "true and fair" view and have
departed from the Charities l Accounts and Reports l Regulation 2008 only to the extent
required to provide a "true and fair view". This departure has involved following
'Accounting and Reporting by Charitles = Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland l FRS 1021 I Second
Edition I rather than the Accountin8 and Reporting by Charities . Statement of
Recommended Practice effective from I, April 2005 which has Sin￿ been withdtawn..
The disclosure above is necessary as the Charities { Accounts and Reports l Regulations
2(KJ8 have not been amended to permit the use of the SORP I FRS 1021. It is
recommended by the Charity Commission in section 8 of their publication "charity
reporting and attounting: the essentials, March 2015" which is available from their
website.
The financial Statements have been prepared in accordance with the accounting policies
set out in Note 2 to these accounts, and in accordance with the governing document of the
Circuit
1.2 The Circuit constitutes a public benefit entity os defined by FRS 102
1.3 No changes to accounting estimates have occurred in the reportlng period.
1.4 No material prior year error have been identifled In the reporting period.
2. ACCOUNTING POLICIES.
INCOMING RESOURCES
2.1 Recognition of Income
Income are reco8nised and included in the Statement of Financial Activities I SOFA I when:
> The Circuit become5 entitled to the resources:
It is more likely than not that the trustees wlll receive the resource . and
> The monetary value can be measured with sufficient reliability.
> Circuit Assessment income recognition is based on the Circuit's Budgeted
assessment on eath individual church in the Circuit as approved at a Circuit meeting.
> Rental intome 15 recognised on the basis of the rent as per the rental
agreements.
page 13.

BAThERSEA AND WANOLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31. AUGUST 2024 { continued )
2.2 Offsetting
There has been no offsetting of assets and liabilrties, or income and expenses.
unless required or permitted by the FRS 102 SORP or FRS 102
2.3 Grants and Donations
Grants and Donations are only included in the SOFA when the 8eneral income
reco8nition criteria as stated above are met.
2.4 Legacies
Legacie5 are included in the SOFA when receipt IS Pfobable, that is, when there
has been grant of probate. the Executors have established that there are
sufficient a55ets in the estate and any condition5 attached to the legacy are
either within the control of the charity or have been met.
2.5 Tax Reclaim on Donations and Gifts
Gift Aid receivable Is included in income when there 15 a valid declaration from
the donor. Any Gift Aid amount recovered on a donation is considered to be part
of that gift and is treated as an addition to the Same fund as the Inltlal donation
unle55 the donor or the terms of the appeal have specified otherwise.
2.6 Donated Goods
Donated goods are measured at fair value,{ the amount for which the asset could
be exchanged ) unle55 impractical to do 50.
Good5 donated for on-going use by the Circuit are reco8nised as tangible r￿ed
assets and included in the SOFA as incoming resources when receivable.
Gift5 in kind for use by the Clrcuit a￿ included in the SOFA a5 income from
donations when receivable
2.7 Donated Services and Facilitie5
Donated Se￿iCe5 and facilitles are included in the SOFA when recelved at the
value of the gift to the Clrcuit provided the value of the gift can be measured
reliablv.
2.8 Volunteer Help
The value of any voluntsry help received is not included In the accounts.
2.9 Settlement of Insurance Claim5
Insurance claims are only included in the SOFA when the general income
recognition criteria are met, and are included as an item of other income in the
SOFA
2.10 Income from Interest, Royalties and Dividends
This is included in the accounts when receipt is probable and the amount
receSvable can be measured reliably.
2.11 Investment gains and losses
This includes any realised or unrealised gains orlosses on the sale of
investments and any gain or loss resulting from revaluing investments to
market value at the end of the financial year.
page 14

BAThERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, AUGUST 2024 ( continued I
APPUCATION OF RESOURCES.
2.12 Liability Recognition
Liabilities a￿ recogni5ed where it 15 more likely than not that there 15 a legal or
construrtive obligation committing the Circuit to pay out resources and the
omount of the obligation can be measured with reasonable certainty.
2.13 Grants.
Grants and donations are accounted for when paid.
2.14 Costs direcdy related to the work of the clrcult.
The distrirt a55essment and ministerial stipends are accounted for when due.
FIXED ASSETS.
2.15 Freehold land and buildings
Freehold land and buildings are accounted for at original Cost or subsequent valuation basis.
Tangible fixed Assets
These are the manses managed bythe Circuit. The Circuit managesthree Manses
Fixed Asset Investments
These are the properties managed by the Circuit with the view to generate income or for their
investment potential plus the TMACP trusts.
In the year under review, there were five such properties. including one closed-to-worship
church buildin& and three TMCP trusts.
The freehold land and buildings mentioned above are shown in these accounts at deemed
valuations, being that property's insurance reinstatement value, as notlfied by Methodist
Insurance Company Plc. Changes in the values of the properties as notifled by the Methodist
Insurance Company PIC are reflerted in these accounts on five-year basis
2.16 CAPITALISATION
All Fixed Assets wh05e cost5 are in excess of £1,￿0 in the year concerned are capitslised.
Otherwise Such costs are written off in the year of the expenditure.
2.17 DEPRECIATION.
Depreciable tangible freehold building values are depreciated at a rate calculated to write off
the cost, less residual value over their expected useful lives.
No Depreciation is provided on freehold land.
No Depreciation is provided on Fixed A55ets Investment properties.
Rate of Depreciation on tangible freehold buildings- 2.5% on straight line basis.
OTHER ACCOUNTING POLICIES
2.18 Funds
2.18.1 Unrestricted funds represent funds which are expendable at the discretion of the
Circuit in the furtherante of its objects and which have not been designated for other
purposes.
2.18.2 Restricted funds tan only be used for specified purposes. The purpose of any restricted
fund is noted in the financial statements.
page 15

BATfERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31. AUGUST 20241 wntinued I
2.18.3 Permanent Endowment Fund represents a gift ofendowment where the trustees have
no power to convert the capital into income. A pemianent endowment fund must normally be
indefinitetv-
2.18.4 Expendable Endowment Fund represents a gift of endowment where trustees have the
powerto convert all or part of the endowmentfund into income.
2.19 Consolidation
The Circuit oversees the work of ministers and lay workers in churches wlthin the Circuit, but
does not have control over those churches, ministers, or the lay workers. For this reason. the
financial statements of the churche5 Within the Circuit are not consolidated into these
financial statements.
2.20 Going Concern
At the time of approving the financial statements, the Trustees have a reasonable expectation
that the Circuit has adequate re50urce5 to continue in operational existence for the
foreseeable future. Thu5 the Trustees have therefore continued to adopt the going concern
basis in preparing the Circuit's financial ststements.
2.21 Employment Benefits
The cost of any unused holiday entltlement is recognised in the period in which the
employee's seNices are received.
2.22 Taxation
In the opinion of the trustees. the Circuit is exempt from the United Kingdom Taxation on its
incoming resource5 for the year.
2.23 Accounting estimates and Judgements
In the application of the Circuit's actounting policies, the trustee5 are required to make
judgements, estimates, and assumptions about carrying amount of assets and Ilabilities that
are not readily apparent from other resources. The estimates and associated assumptions are
based on historic experience and other factors that are considered to be relevant. Actual
results may differ from these estlmates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revislons to
accounting estimates are recognised in the period In which the estimate is revlsed where the
revision affect5 only that period, or in the period of the revision and future periods where the
revision affects both current and future periods.
2.24 Apportionment Of Costs Between Activities
Governance and Other Cost5 are apportioned between Charitable Activities and
Expenditure to raise Funds on the basis of each activity's income in the year in relation
to each other. excludin8 any exemptional items
page 16

|`117,898 `|`114,700`|`114,700`|
|---|---|---|
|`196,632 `|`194,043`||
|`_`||`二`|
||`178,907`|`178,907`|
||`81,368`|`81,368`|





BATTEASFAANDWANDLÉVAiLEYORCUIT
rioiE5TO ThEFIFIANOALSTATEMENVSFC*IHEYEAA E14DEri3LAU6usfzoz41 Condnu￿)
UNe5thcteRe5trktsd TOTAL UNethet&Restric￿ Er￿￿ TOTAL
FutsJ$
Furth Fly￿ Fw
Fts￿$
Flmds
F￿d
2U24
AudllFees
1A03
1,B03
1.783
892
892
831
ér Pthwonalfe05
4.2.2.3 0lhDrs
DAFContntth2n
ApptBDtke5hyL
502
1,515
314
1315
314
1.126
1.126
POA. PdIrta[￿ Stalkniery
42.3
SUlma4RYOF EXPEN￿TUREoN cFl4R￿A6LE ACTIVITIES
Cl￿t8p￿[WJl
207,186
O 107,186 178.￿7
17&￿7
81,368
81.3Sry
3.5(
4.3 OTHERS
1.823
140
785
1.823
140
Swdry Ew
Wor5h*>
Bad Prv41slDn rw)
Bad Deb
Youth
Grant to• lj¢thLwJistCh￿th
Tothi Thre4wvJitL
-12.286
-12,286
34.953
870
953
870
REVALVAIION I DEFICmlGAIN$
Rov8iLL41h)n of Investments
421
Sir Henry Grft
1,082 unts @ 580.3 pancg pw untt120231
-&fj81
1,082 unlts
541.7 peno unrt120241
411
FromEndDwrnqnt Fundto Unwriu•d Fw*J
5trH*nry H01b)￿l$trU
1B

BAThERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL ￿ATEmENTs FOR THE YEAR ENDED 31, AUGUST 2024 ( continued )
7. FIXED ASSErs
7.1 TANGIBLE FIXED ASSETS
COST OR VALUATION
FREEHOLD LAND AND BUILDINGS
Land and
Buildings
Unreslricled
Bala￿e as at 1 September 2023 & 31. August 204
DEPRECIATION
A5 at I September 2023 and 31. August 2024
NET BOOK VALUE
As al 31 August 2024
93
As at 31 August 2023
7.2 FIXED ASSETS INVESTMEMrs
COST OR VALUATION
Unrestricted
Endowme
TOTAL
Land and Building
As at I September 2023 and 31, August 2024
2 776 095
2776095
INVESTMENTS
As at I September 2023
30
5,440
5470
Addition5
Disposals
8,224
49.830
-164
58054
-165
Balance as at 31, August 2024
8253
63359
NEf BOOK VALUE
As at 31 August 2024
2 784 348
2 839 454
As at 31 August 2023
7.3 FIXED ASSETS
11 The values placed on the above properties are those of the Methodist Insurance "Insured
value5" as at 16, November 2016. The "insured Values" are the expected insurance cost to
replace these properties. The values are neither original Costs nor'fair values"
2 776 125
2 781565
page 19

BATfERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31. AUGUST 2024 ( continued I
7.3 FIXED ASSETS I Continued I
21 No dep￿ClatIon has been provided in respect of the tangible fixed asset properties for the
year as the tru5tee5 consider that the depreciable value is NIL. They are of the opinion that
the Maintenance programmes to which these properties are subjected to ensure that the
estimated residual values are not le55 than the stated value5.
3) Re-classificatlon of TMCP Trusts
The TMCP trusts have hitherto been treated as Current Assets investment5.
The trustees reviewed this position in 2023 and has decided to reclassify such trusts as
fixed assets investments because they consider these trusts to be held for long term
purpose (rather than short term l. These trust remain liquid, but they are held for their
investment potential. The trusts are not held specifically for resale or experted to be
realised within 12 months from the year-end131108//20241 date.
41 The Circuit did not have any Heritage Asset
8. INVESTMENTS
The following funds are held on behalf of the Clrcult by TMCP
Circuit Model Trust Fund
Sir Henry Holloway Trust
Gladys Freshwater Trust
2024
2023
8,252
6,861
30
5,440
5470
Transfer of TMCP trust funds to the Clrcuit
The Southfield Melhodisl Church ceased worship in 2019..
As part of the cessation package ￿ of its TMCP trusts l Gladys Freshwater Bequest and Bemice
Muriel Hiller bgquesl I were transferred lo the Battersea and Wandle Valley CircJJit. The transfer
process was completed in 2024. The balance on the Bemice Muriel Hiller bequest1 £7,833.03) was
transferred into the Model Trust Fund (trust 340 1 durtng the year.
The Gladys Freshwater trust retained ils name and trust number, but its management and
ownership were changed from Southfield Methodist Church to Battersea and Wandle valley Circuit
during the year.
9. INCOME FROM MATERIAL INVESTMENT HOLDINGS
Value
Asat
at 3110812024
Income
2024
Value
Asat
t 3110812023
Income
2023
Investment Properties
Trustees for Methodist Church Purposes
TOTAL
2,776,095 195,274 2.776,095
555
191416
169
191585
2 840 453 195 829 2 781565
10. DEBTORS
Circuit Assessment Debtor- Due from Local Churches
Prepayments
Rent Debtor
Other Debtor5
21,204
15,584
83,976
5700
126 464
Basic financial ass8ts, including other debtors and prepayThents are initially recognised at
transaction price, unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present value of the future receipts discounted at a market
rate of int8rest.
pap 20
43.174
14,280
51,960

BArrERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, AUGUST 2024 1 continued I
11. BANK AND CASH BALANCES
2024
2023
Lloyds Bank Account
Central Finance Board- Deposit
15.594
107
11.1 BANK AND CASH BALANCES
Cash and cash equivalent includes cash in hand, deposits held at call with bank5. Other short-
term liquid invesirnents with original maturities of three months or le55. and bank overdrafts.
Bank overdrafts are shown within borrowin85 in current liabilities.
12. CREDITORS: Arnounts falllng due wlthin one year
2024
2023
Bank Overdraft
Local Churches Assessments received in advance
Rent Received in Advance
Other Creditors and Accruals
Accruals
13,013
71,918
1,098
7,017
7,248
100 294
Basic financial liabilities. including trade and other creditors, loans from third parties and
loans frorn related parties are initially recognised at transa¢tion price. unless the
arrangement constilutes a financing transaction, wh8re the debt instrument is measured
at the pr8s8nt value of the futur8 payments discounted at a market rate of interest. Such
instrurnent5 are subsequently carried at amortlsed cost using the effective intérest
meth(Kl, less any impairment.
13. CREDITORS . Amounts falling due after the next twelve months
61,519
1,098
17,065
7,248
2024
2023
Rent Deposit
The above ac￿Unt is a returnable rent deposit received from a tenant of the Clrcuit
In accordance wlth the lease, this dewstt is to be pul into a desNJnaled bank account.
The balance and any interest awrued are lo the benefit of the tenant.
14. FUNDS
14.1 ENDOWMENT FUND
2024
2023
Balance Brought Forward 0110912021
5,440
5,681
Incoming Resources
49,409
168
Recourses Expended
-16
-16
Net (Deficit) IGain on Investment Revaluation
421
-241
Transfers between Funds
-148
-152
Balance Carried Forward 3110812024
page 21

BArrERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, AUGusf 2024 ( continued )
14.2 RESTRICTED FUNDS
2024
2023
Balance at 0110912023 and 3110812024
14.3 UNRESTRicfED FUNDS
Balance Brought Forward OV0912023
3,764,405
3.780.171
Incoming Resource5
322.298
308,743
Resources Expended
-299.451
-324,661
Transfers between Funds
152
Balance Carried Forward 3110812024
15. TRANSFERS BETWEEN FUNDS
3,787,400
3,764,405
From Slr Henry Holloways to CFB
148
152
16. DETAILED RESTRicfED FUNDS
COLLECTION TO PASS ON
2024
2023
Easter Offering
Grenfell Tower
2,233
103
2.233
103
These are funds collected by the Circuit to be passed on to the third parties as narned above.
17 DETAILS OF CERTAIN ITEMS OF EXPENDITURE
2024
2023
Audit Fees
Accountanry tharges
4,8
4,800
18 PAID EMPLOYEES
Salaries and Wages
National Insurance and Pension Contributlons
517
5,807
518
Average Number of employees
No employee received emoluments in excess of £60,000 per annum.
19. posr BALANCE SHEET EVENTS
19.1 The Trustees are not aware of any post balance sheet event which could materially affect
these financial statements
page 22

BATTERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31, AUGUST 2024 1 continued )
20. RELATED PARTY TRAN5AcfioNS
20.1 All the Minister5 serving in the Circuit. and the Circuit Treasurer are member5 of the Circuit
Trustees
20.2 No Trustee received any remuneration nor benefrts
20.3 TRANSACTIONS WITH RELATED PARTIES
Durln8 the year, three Ministers and the Circuit Treasurer who are also Trustee5
received stipends and expenses as follows:
2024
2023
Ministerial stipends
130.001
110.361
Reimbursed Expenses- Ministers
8,823
6,986
Reimbursed Expenses- Circuit Treasurer
1,425
800
Although the Circuit pays the ministerial stipends, the Ministers are not employed by the
Circuit. Ministers are employed by Conference, but it is the responsibility of the Circuit to
pay them.
There were no other related parties transactions ft)r the year ended 31, August 2024.
Connected organisation5 include the Methodist Connexion, Churches within the Circult,
other Methodist Distrltts in Great Britain. CFB, and TMCP. All these entities have their
own trustees and autonomous admlnlstration such that the Circuit has no significant
influence over any of them, nor they over the Circuit. They are, therefore not consldered
related parties.
2024
2023
20.4 Average Nvrnber of Trustees receivlng
Stipend5
Allowances
There were M other related party transactions during the year.
21. RESERVE POUCY
A balance is retained in the general fund to meet unanticipated expenditure and
programmed work that can not be funded from a single year's budget. The policy of the
Circuit is to maintain fund5 equivalent to at least 6 month's expenditure.
22. Volunteers Contrlbutlon
Every wing of the Methodist Church l Local Churches. Circuit5. Districts, Connexion l in the
Unlted Kingdom is heavily reliant on volunteer5 who contribute their skills, time, money and
their resources in the furtherance of the work of the circult. Principally, this contribution is
by serving on committee5 Of the Circuit that deal with mission. manses, finan¢e, policy.
grants, trainin8 developmenls, etc .
The contribution of volunteers is not Included within the income of the Circuit.
The Trustees are grateful to all of them for their help and commitments
page 23

BATTERSEA AND WANDLE VALLEY CIRCUIT
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31. AUGUST 2024 { continued )
23 Ministers. manse costs
The Circuit Is required to provide accommodation for each Minister and hlslher family. The
Circuit bears the cost5 Of repair5, maintenance. building insurance, Council Tax and water
charges. These costs are not shown separately as benefit-in-kind for the Ministers as
HMRC does not seek to tax these receipts in the hand5 Qf the Ministers.
24. FINANCIAL INSTRUMENTS
All the Charity's financial instruments qualify as basic financial instruments in accordance
with section 11 of FRS 102 arsd are recognised on the following basis..
il Cash and c05h equivalent represent bank balances and deposit5 held in Sterling
ill Investments are measured at market value at the balance Sheet date
iiil Debtors are measured at the transaction price less any provision for doubtful debts
iv) Creditor5 are measured at the transaction price.
25. The Wandle Valley Circuit and the 8attersea Mission Circuit merged Into one circuit on
l. September 2014, to form the 8attersea and Wandle valley Clrcuit.
A property of the Battersea Mission I the west wing I was sold in 2015. and the net sale
proceeds of £1,800,000 was paid into Battersea and Wandle Valley Circuit TMCP trust
Account l Trust 21905 l on 16. February 2015. An amount of £1,430,lJ19 was transferred
out of the £1,800,000 on I, August 2015 to open a new TMCP trust account I trust 21905A }
in the name of Battersea and Wandle Valley Circuit.
Although the new TMCP trust account12190S AI is in the name of the newly formed
Circuit, it is holding the fund5 in the account "on trust" for the Battersea Mission. The
Circuit does not have any control over the TMCP trust 21905A account, and any
transactions in the trust account are controlled and authorised by the Battersea Mission.
The transaction5 in the TMCP trust account 21905A have not been reflected in these
financial statements.
26. APPORTIONMENT OF SUPPORT cosrs AMONGST AcfiviTIES.
EXPENOITURE ON
CHARITABLE
Total costs ACTivrriES
EXPENDITURE ON
RAISING FUNDS
Gov•rnanG? Costs
Audit
4.800
1803
2997
Accountancy F885
2.400
902
1498
Others
Post. Print and Stationery
837
314
523
Telephone
4,032
1515
2517
Sundry Expenses
306
115
191
Governance and Other Costs are apportioned between Activities { Charitable and
Expenditure to raise funds l on the basis of each activity's income in the year in relation
to each other. This policy excludes any exceptional and non-recurring transactlons.
page 24