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2025-08-31-accounts

REGISTERED CHARITY NUMBER 1194708

Report of the Trustees and

Financial Statements for the Year ended 31 August 2025

for

Oldham Methodist Circuit

Oldham Methodist Circuit

CONTENTS OF THE FINANCIAL STATEMENTS For the Year Ended 31[st] August 2025

Page Report of the Trustees 1 - 8 Statement of Financial Activities 9 Balance Sheet 10 Cash Flow Statement 11 Notes to the Financial Statements 12 - 20 Independent Examiner’s Report 21

Oldham Methodist Circuit Report of the trustees for the Year Ended 31 August 2025

Report for end of year 31[st] August 2025

The trustees present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of the Charities Act 2011 and the Charities ‘Statement of Recommended Practice (SORP) 2015 ' in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

REFERENCE AND ADMINISTRATION DETAILS

Registered Charity number 1194708

Principal address

2 Bannach Drive Chadderton Oldham OL9 0QN

Trustees

The members of the Circuit Meeting are the Charity Trustees. A full list of trustees is included Appendix A of the trustees report.

Solicitor

North Ainley Halliwell 34/36 Clegg Street Oldham OL1 1PS

Independent Examiner

Leanne Nield ACA BSc Arc Accountancy Solutions Limited 51 Laverton Road Lytham St. Annes Lancashire FY8 1EN

Advisers

The charity's investment managers are TMCP, Central Buildings, Oldham Street, Manchester M1 1JQ.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Oldham Methodist Circuit is part of the Methodist Church of Great Britain. Type of Governing Document: Deed of Union (1932) and Methodist Church Act (1976) How the Charity is Constituted: Act of Parliament

The Charity's Trustees are the members of the Oldham Methodist Circuit meeting. Membership is made up of ministers appointed to the circuit, circuit office holders, representatives appointed by the local churches with a representative for the Local Preachers’ and Worship Leaders’ Meeting. Full membership is shown in Appendix A to this report.

The Trustees for Methodist Church Purposes are the Custodian Trustees of Circuit properties.

ORGANISATION OF OLDHAM METHODIST CIRCUIT

The Oldham Circuit currently provides ministerial oversight and pastoral care for twelve churches in the Oldham area.

Circuit Meetings (trustees’ meetings) are held three times per year. The Circuit Leadership Team (the circuit's ministers and circuit stewards) meets six times per year and has limited powers to transact business on behalf of the trustees

1

Oldham Methodist Circuit Report of the trustees

for the Year Ended 31 August 2025

between trustees’ meetings, The Circuit Superintendent, if present, chairs meetings of these groups. In the absence of the Superintendent, one of the other ministers takes on the role of Chair.

Sub-committees responsible to the trustees, including both representatives of the trustees and others with appropriate skills and experience, have been established for a number of routine purposes and for day-to-day management of the Christians Against Poverty Debt Centre.

During the accounting period the Circuit was part of the recently merged ( as from 1[st] September 2024 ) North West England District (NWED). Oldham Circuit is a member of the Greater Manchester Plus Mission area within NWED and is accountable to the Methodist Conference.

Detailed governance arrangements are outlined within the Constitutional Practice and Discipline of the Methodist Church (CPD) by order of the annual conference.

Additional Governance Issues

Induction/Training of Trustees

As is evident from Appendix A, the appointment of a substantial number of trustees is the responsibility of the local churches. On appointment, all trustees are made aware of the duties and responsibilities of trustees through relevant guidance notes issued by the Methodist Connexion and the Charity Commission.

Risk Management

The trustees regularly review the risks faced by the Charity, both financial and otherwise; professional advice is taken, when required. Procedures and guidelines for mitigating risks issued by the Methodist Church are consulted. The Methodist Church’s robust safeguarding policy and safeguarding procedures are adopted by the Circuit in the Circuit’s Safeguarding Policy which are both reviewed annually. Safeguarding is an agenda topic at every Circuit Meeting.

Related Parties

The churches forming the Circuit are either excepted charities or registered charities and, as they are responsible for their own financial affairs, their accounts are reported separately by the individual churches.

CHARITABLE OBJECTIVES AND MAIN ACTIVITIES

Summary of the Objects of the Charity set out in its Governing Document

The purposes of the Methodist Church are and shall be deemed to have been since the date of Union the advancement of :

Summary of the Main Activities undertaken for Public Benefit in Relation to these Objects

We confirm that the trustees have regard to the Charity Commission’s guidance on public benefit, including the specific guidance on charities for the advancement of religion.

The Circuit aims to live out the Calling of the Methodist Church, summarised as:

The trustees are committed to reaching as many people as possible in the Circuit’s geographical area. The Circuit produces a quarterly preaching plan to ensure that regular public acts of worship take place at each of the twelve churches. Worship is open to all people (church members and non-members alike) without charge.

2

Oldham Methodist Circuit Report of the trustees for the Year Ended 31 August 2025

The churches forming the Circuit provide Christian teaching, pastoral care (including visiting the sick and bereaved) and, as part of their outreach, provide activities for a broad section of the whole community (from toddlers to senior citizens). The Circuit supports and encourages the churches in this work and funds the provision of ministers (presbyters and a deacon) , also supplying and maintaining their accommodation (manses) and covering their legitimate expenses.

The Circuit has a Partnership Agreement with the national debt counselling charity ‘Christians Against Poverty’ to provide a free debt counselling service to the residents of Oldham.

A number of ministry and mission activities throughout the local area are provided with financial support.

ACHIEVEMENTS AND PERFORMANCE

Circuit Staff

During the accounting period the Revd Dr Kennnedy Gondongwe is the Circuit Superintendent and Chairperson of the Circuit Trustees. Revd Dr Gondongwe is responsible for The Methodist Church in Royton which includes Trinity, Fir Lane and Gravelhole with support from supernumerary minister Revd R Davies, South Chadderton, Bardsley, Hollins and Limeside churches. Revd Suva Catford is responsible for East Oldham and Zion churches, with continued oversight of Hey with Zion school along with the Oldham Town Centre Mission. Revd Ken McNally is responsible for the three Saddleworth churches of Uppermill, Greenfield and Delph and for Shore Edge Church and St Andrew’s churches in Shaw. Deacon Angleena Keizer (appointed 1 September 2023) is leading the pioneer mission project for High Crompton.

Further New Appointments/Changes in Responsibility

As of 01/09/2024 The Revd Dr Kennedy Gondongwe took the post of Circuit Superintendent Minister following the departure ( new stationing ) of the previous superintendent minister Revd Dr Adrian Burdon. A superintendent welcome service was held on 02/09/24 attended by the Chair of District. Revd Kennedy Gondongwe had joined the circuit as a presbyter through the Ministers from Other Churches and Conferencing (MOCC) stationing process in September 2022. With Revd Kennedy being appointed internally to the superintendent role and Revd Dr Adrian Burdon leaving, the circuit effectively reduced the number of presbyter staff from four full time presbyters to three. The three presbyters being Revd Gondonwe; Revd Kenneth McNally and Revd Suva Catford.

With a reduced number of presbyters there was a reorganisation of the circuit ‘mission areas’ and pastoral responsibilities.

The pastoral charge of churches was organised as follows:-

Revd K Gondongwe – Bardsley; Hollins; Limeside; South Chadderton and The Methodist Church in Royton which includes Fir Lane, Gravelhole and Trinity churches.

Revd K McNally – Delph; Greenfield, Shore Edge; St Andrew’s and Uppermill.

Revd S Catford – East Oldham and Zion and including Hey with Zion Primary School and continuing with her Town Centre mission work (50%).

The Revd Robert Davies continued in his role as supernumerary minister during 2024/25, with an increased paid role, from 20% to 40% of the full standard stipend, for a workload of four sessions per week (16 hours) to be applied throughout the week as circumstances dictated. Revd Davies’s main focus of work involved supporting the superintendent with his pastoral charge of his churches, mainly with the newly formed Methodist Church in Royton ( being a combination of Fir Lane, Gravelhole & Trinity Churches ). Revd Davies retired at the end of August 2025.

Deacon Angleena Keizer, appointed September 2023, continued with her work as leader of the pioneer mission project at High Crompton.

In September 2024 Revd Suva Catford requested the curtailment of her presbyter role following the completion of four years (to August 2025) rather than five (to August 2026). The required procedures for early curtailment were followed and it was agreed and confirmed that Revd Suva would leave the circuit as of 31/08/2025.

In view of this, following much debate and discussion regarding the needs and mission directions, circuit entered the Stationing Process to seek a full time presbyter from 01/09/2025. In May 2025 the stationing of Revd Dr Jongikaya Zihle was confirmed for September 2025.

3

Oldham Methodist Circuit Report of the trustees for the Year Ended 31 August 2025

Worship, Prayer and Discipleship

Worship continued in a variety of patterns across the Circuit. Circuit Prayer Lunches are held each month hosted at various churches across the circuit on a rotating basis.

Funding of Ministry and Mission Projects

Churches and individuals continue to support the Christians Against Poverty Debt Centre Project ~~.~~

Circuit Properties (Manses)

The Circuit currently owns six manses – 2 Bannach Drive; 2 Braeside; 15 Nudger Green; 1 Spinners Way; 2 The Avenue and 9 The Avenue.

During the finance year the residential properties have been revalued to market value giving an overall gain of £598,000.

With the reduction of ministers the manse at 2 The Avenue became vacant as of August 2024. This manse is in a good location and is a property meeting all the requirements for a minister. Although requiring substantial updating, including some bathroom renovations, it was decided to keep the manse, particularly in view of the possibility of the stationing of a new presbyter for September 2025. During 2024/2025 work was carried out on the manse to bring it to a good standard and ready for occupancy in August 2025.

The vacant manse at Braeside continued to be rented out however, following various tenancy difficulties, the manse became vacant in Spring 2025. This property has required a great deal of work following a leak/flood for which an insurance claim has been approved and problems relating to flooring on the ground floor of the property. Circuit Meeting agreed the property was no longer required for future accommodation. Necessary repair work has been completed and the property is to be put on the open market for sale.

All manses have been inspected regularly to identify essential maintenance issues and to help plan for renewals of major items. Maintenance/repair work at Nudger Green has included a new door and a new window.

The manse at Spinners Way became vacant as of August 2025 due to the departure of Revd Catford. Overall this manse is of a good standard requiring minor maintenance/repairs/updating. Circuit are considering the rental of the property to bring in income whilst decisions are taken as to the future accommodation needs of the circuit.

General Administration

The circuit continue to adhere to the Circuit Safeguarding Policy for Children and Vulnerable Adults, dated September 2024, which continues to reflect current Connexional policy.

Christians Against Poverty (CAP) Debt Centre

Since Autumn 2012 a free debt counselling service has been provided for local residents. This is a partnership between the Circuit and Christians Against Poverty. The project is managed by a management committee appointed by and responsible to the trustees. The service has proved highly successful in helping clients to deal with debt and related problems. The service continues to serve many clients in a climate of increasing demand for support. The project is home-based and does not need an office.

Kelkina Ackrill, appointed in 2022 as CAP Centre Manager left in September 2024. A new manager, Lisa Woolfenden, was appointed in March 2025.

The paid Manager is assisted and supported by around 20 ‘befrienders’ and other volunteers from the churches in Oldham and the community.

The Debt Centre also operates in partnership with Keyring & Oldham Food Bank and other local agencies helping people in crisis. This project includes running the CAP Life Skills course

The project is funded by a combination of regular and occasional donations from churches and church members and a grant of £8000 per year from Circuit funds which in 2024/2025 has been covered by a contribution from the Model Trust Fund.

Volunteer Contributions

A valuable resource for the Circuit continues to be the many volunteers who assist in various ways with the ministries of the Circuit and CAP Debt Centre.

The Future

Oldham Circuit became part of the newly formed North West England District in September 2024.

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Oldham Methodist Circuit Report of the trustees for the Year Ended 31 August 2025

In September 2024 churches in Royton – Fir Lane; Gravelhole and Trinity, formerly joined to create The Methodist Church in Royton (TMCiR). A new church council for TMCiR became into being with its inaugural meeting held on 7[th] October 2024. Fir Lane and Trinity continue to operate as worships centres with regular Sunday morning worship held at each venue. A joint Sunday worship is held each month. Gravelhole chose to join at Trinity for Sunday worship as from September 2024 and formerly ceased worship as of April 2025 as agreed at District Synod. In light of this and the consideration of the needs for the future, church council confirmed that Gravelhole Church would go up for sale on the open market following completion of necessary procedures and formal approval from district.

The number of circuit churches will reduce from 14 to 12 plus a worship centre (Fir Lane).

Over the past few years the circuit has recognised that membership is declining with the majority of members being 65+.

In June 2024 a Circuit Mission Questionnaire was completed by all circuit churches to help form an overall view of our current situation, to identify needs and to seek opinions on how we might move forward in mission for the future. The completion of this document shared activities ongoing in each church, the involvement of community groups, opinions about church and circuit connections and views about future mission needs and work. The feedback from these questionnaires provided useful information and an insight into members thoughts and circuit vision and were valuable in supporting decisions taken about staffing requirements and the agreement to enter stationing for September 2025. Circuit continue to look at mission and are looking to plan and organise a series of ‘workshops’ to explore future possibilities.

FINANCIAL REVIEW

Review of 2024 - 25 Accounts

General Fund (Unrestricted)

Income and expenditure were broadly in accord with the budget. The main source of income continues to be the assessment contributions from local churches, which brought in £222,000. Churches have experienced financial difficulties, with the continued impact from Covid 19, high energy costs and inflation as well as declining membership affecting some income.

The Circuit agreed to subsidise the budget with £60,000 from the Model Trust Fund with an additional £2,000.00 in recognition of the amalgamation of Royton Churches for what would have been the assessment contribution as a worship centre for Gravelhole Church, totalling a subsidy of £62,000. The total contributions from the Model Trust to support the 2024/2025 Circuit budget comprised of £62.000 assessment subsidy, £4,000 for quinquennial inspections, £35,213 deacon stipend, and £8,000 contribution to CAP totalling £109,213.

The major outgoings are the costs of employing the ministerial team, the Circuit’s financial contribution to the North West England District of £57,821 and the costs associated with providing the manses. Manse maintenance and repair costs for 2024/2025 were £22,261. The employment costs were broadly as expected. The Circuit employs a circuit administrator who is the Circuit Safeguarding Officer and person responsible for GDPR. The Circuit also buys in to finance support from the Transforming Churches and Community with the annual service cost for 2024/2025 being £6,700. A grant of £3,000 was donated towards the cost of attending 3 Generate, an annual event for young people across the UK involved with Methodism.

Excluding tangible fixed assets, General Funds at 31[st] August 2025 amounted to £356,606, including £108,00 designated for deacon stipend costs over the next three years.

Circuit Model Trust Fund (Unrestricted)

Income and expenditure were broadly in accord with budget. The Circuit Model Trust Fund (CMTF) is an unrestricted fund which holds the proceeds of sales from Model Trust property (local churches, manses etc); these are paid to the custodian trustees (the Trustees for Methodist Church Purposes) for investment. The managing trustees of the CMTF are the Circuit trustees who use the fund to support the Circuit’s ministry/mission, including some property-related projects, and also to provide grants/loans to local Methodist churches for the same purposes. Grants/donations/loans are also made to other causes which are in accord with the Circuit’s own mission purposes. A compulsory annual levy (based on the year-end balance of the fund) is payable from the CMTF to the District Advance Fund – on 01/09/24 £34,851 was deducted.

5

Oldham Methodist Circuit

Report of the trustees

for the Year Ended 31 August 2025

A transfer from CMTF for £109,213 to the Circuit CFB Deposit Fund was completed in March 2025 to cover agreed 2024/2025 budget subsidies - £62.000 assessment subsidy, £4,000 for quinquennial inspections, £35,213 deacon stipend, and £8,000 contribution to CAP ( as outlined under General Fund ).

A further transfer from CMTF for £110,000, to the Circuit bank account Unity, was completed in August 2025 to cover agreed budget costs for 2025/2026 -£55,000 assessment subsidy, £4,000 for quinquennial inspections, £43,000 for deacon stipend and £8,000 to CAP.

The CMTF balance at the end of August 2025 was £349,311. This includes the net proceeds of the sale of the salt Cellar Resource Centre (£304,020) in the year ended 31[st] August 2024, which are currently designated by the trustees for town centre mission. It is anticipated that funds in the CMTF account will increase significantly during 2025/2026, following the sale of one of the Circuit manses.

Restricted Funds

Restricted Funds comprise a number of Circuit funds invested with the Trustees for Methodist Church Purpose, CAP Debt Centre, plus other smaller funds. At 31st August 2025, restricted funds totalled £32,723, made up of £28,777 internal organisations (CAP), £3,806 TMCP investment ~~s~~ and £140 for the Caleb Tiddlers Tots group.

A total of £26,526 had been granted across 2022-2023 ; 2023-2024 and 2024 -2025 for Pioneer Mission work, which has been fully utilised in each year against the salary costs of Deacon Angleena Keizer for the community work being done in the High Crompton area.

Circuit received a final payment of the Connexional Grant for the High Crompton Mission Project of £7,200.

Endowment Funds

There are two Endowment Funds. The James Cocker Gift, which was brought into the Circuit from the former Union Street Church and the Organ Fund transferred from the former Honeywell Lane Church . The James Cocker fund increased from £31,062 at the start of the year to £33,007 at the end. The trustees are still exploring the potential release of this capital. The Organ Fund stands at £1,458 ( formerly Honeywell Lane endowment fund )

Tangible Fixed Assets

During the year ended 31[st] August 2025, the valuations of the six Circuit manses were revised, based upon more recent local market research by the Circuit Property Steward. This resulted in a gain of £598,000 in the valuation of tangible assets (from £1,560,000 to £2,158,000).

Total unrestricted General Funds of £2,514,606 at 31[st] August 2025 therefore include a contribution of £2,158,000 from tangible assets.

Reserves Policies

General Fund (Unrestricted)

In order to meet its ongoing financial obligations, including payment of minister employment costs monthly in advance, and to provide both for the possibilities of future assessment income failing to keep pace with Circuit expenditure and for unanticipated or emergency expenditure, the Circuit must maintain sufficient ‘free’ general unrestricted reserves.

‘Free’ reserves are defined as unrestricted reserves less the investment in tangible assets/property and designated funds. In line with guidance provided by the Methodist Church, the trustees aim to maintain ‘free’ reserves at a level of between three and six months’ typical expenditure i.e. between £100,000 and £200,000.

After the deduction of the value of tangible assets/property (£2,158,000), and funds designated for deacon employment costs over the next three years (£108,000) from General Funds held at 31[st] August 2025 (£2,514,606), ‘free’ reserves amount to £248,606, slightly above the target range

6

Oldham Methodist Circuit Report of the trustees for the Year Ended 31 August 2025

Circuit Model Trust Fund - CMTF (Unrestricted)

The Circuit Model Trust Fund (CMTF) balance at 31[st] August was £349,311, with £304,020 currently designated for town centre mission, leaving ‘free’ reserves of £45,291. As mentioned earlier, it is anticipated that funds in the CMTF account will increase significantly during 2025/2026, following the sale of one of the Circuit manses.

Restricted Funds

Restricted funds amounted to £32,723 at 31[st] August 2025. These funds are restricted for use by the Christians Against Poverty (CAP) project (£28,777); TMCP investments (£3,806); and the toddler group (£140).

OTHER OPTIONAL INFORMATION

No further information.

DECLARATION

The trustees declare that they have approved the trustees’ report above at the trustees’ meeting held on

Wednesday 11[th] March 2026

Signed on behalf of the charity’s trustees.

Signatures

The Revd Dr Kennedy Gondongwe

Janet Abbott

Position Superintendent Minister Senior Circuit Steward Date 11/03/2026

7

Oldham Methodist Circuit Report of the trustees for the Year Ended 31 August 2025

Appendix A Circuit Trustees

Oldham Circuit Meeting Members as at 31[st] August 2025

Oldham Circuit Meeting Members as at 31s t August 2025
1. The Revd Dr Kennedy Gondongwe Superintendent Minister
Chair of the Meeting
2. The Revd Suva Catford Circuit Minister
3. The Revd Angleena Keizer Circuit Minister
4. The Revd Kenneth McNally Circuit Minister
5. The Revd Robert Davies SupernumeraryMinister
6. The Revd Eddie Gordon SupernumeraryMinister
7. The Revd LindsayNeal SupernumeraryMinister
8. Janet Abbott Senior Circuit Steward
9. Dave Allonby Greenfield Steward
10. Bob Ashton Hollins Steward
11. Nigel Bacon The MCiR Treasurer
12. Moira Bergin Zion Steward
13. Ian Crossley The MCiR Steward
14. Stephen Foster Zion Treasurer
15. Allan Gibson Circuit Archives and Property Records
Officer
16. Barbara Howard Delph Steward
17. Kathryn Heathcote Circuit Steward(Pastoral)
18. Glennis Kirkwood Circuit Steward (Property)
Hollins Treasurer
19. June Mills East Oldham Steward
20. Malcom Milwain Heywith Zion School(Chair of Govs)
21. Janet Mitchell St Andrew’s Shaw Treasurer
22. Susan Nuttall The MCiR Treasurer
23. LesleyPerry St Andrews Shaw Steward
24. Graham Radcliffe Circuit Steward(Mission)
25. Ruth Radcliffe South Chadderton Steward
26. DorothyRoberts Uppermill Steward
27. Gordon Roscoe East Oldham Treasurer
Chair of CAP Management Committee
28. David Schofield South Chadderton Rep
29. Carol Stopford The MCiR Steward
34. Margaret Taylor Delph Finance Committee Rep
35. DorothyThorpe BardsleyTreasurer
36. Paul Titmuss Greenfield Rep
37.Norman Unsworth Local Preachers’ Secretary
38.Jim Upton Uppermill Treasurer
39. Pam Walker Shore Edge Steward
40.John Wilkinson Representing South Chadderton as
Treasurer at the meeting
41. Helen Williams Shore Edge Shaw Treasurer
42.Michael Wilson Limeside Treasurer

Joanna Ortiz - Secretary to the meeting/Circuit Admin/Safeguarding

8

Oldham Methodist Circuit Statement of Financial Activities for the Year Ended 31 August 2025


Income
1 Donations and legacies
2 Income from monetary investments
3 Income from investment properties
4 Assessments on Churches
5 Net capital receipts
6 Grants received
7 Internal Organisations
8 Other charitable income
9 Transfer of account balances from
Honeywell Lane Church investments
10Total income
Expenditure
Expenditure on charitable activities:
11 Grants and donations
12 Stipends, salaries, NIC and
pension costs
13 Property maintenance
14 District Assessment & Levy
15 Purchase of property
16 Depreciation
17 Office, administration and travel
expenses
18 Internal Organisations
19 Other outgoings
20Total charitable expenditure
21 Net income before investment
losses/gains
22 Losses/gains on monetary
investments
23 Gains on revaluation of fixed assets
24 Net income/(expenditure) before
transfers
25 Transfers between funds
26 Reclassification of funds
27 Other gains/(losses)
28 Net movement in funds
29 Funds brought forward
30 Total funds carried forward		 Note
2
14
14
3		 General Fund
(Unrestricted)
Circuit Model
Trust
(Unrestricted)
Restricted
Funds
Endowment
Funds
Total
2024-25
Total
2023-24
£
£
£
£
£
£
6,440
6,440
-
4,147
23,901
155
1,537
29,740
29,983
8,327
8,327
12,528
222,000
222,000
246,216
-
-
304,020
7,200
7,200
10,287
11,441
11,441
12,960
24,108
24,108
48,282
276
1,430
1,706
6,339
265,022
23,901
19,072
2,967
310,962
670,615
4
5
2
14
8		 3,000
3,000
3,460
177,275
7,200
184,475
223,439
52,391
52,391
35,733
57,821
34,851
92,672
71,221
-
-
-
-
-
19,562
1,889
12
107
21,570
30,345
17,351
17,351
19,152
28,902
28,902
15,649
338,951
36,740
24,563
107
400,361
398,999
(73,929)
(12,839)
(5,491)
2,860
(89,399)
271,616
9 21
(34)
3
(10)
898
598,000
598,000
(13,301)
524,071
(12,818)
(5,525)
2,863
508,591
259,213
10 211,218
(219,213)
7,995
-
-
-
-
(466,699)
-
-
735,289
(232,031)
2,470
2,863
508,591
(207,486)
1,779,317
581,342
30,253
31,602
2,422,514
2,630,000
2,514,606
349,311
32,723
34,465
2,931,105
2,422,514

9

Oldham Methodist Circuit

Balance Sheet

for the Year Ended 31 August 2025

Fixed Assets Note General
Fund
(Unrestric
ted)
£		 Circuit Model
Trusts
(Unrestricted)
£		 Restricted
Funds
£		 Endowment
Funds
£		 Total
2024-25
£
Total
2023-24
£
Circuit Manses & Equipment 11 1,858,000 1,858,000 1,387,000
Other Properties (resource
centre)		 11 - -
Investment Properties 11 300,000 300,000 173,000
Investments 14 34,465 34,465 31,602
Total fixed assets 2,158,000 0 0 34,465 2,192,465 1,591,602
Current Assets
Debtors 12 15,354 15,354 17,528
Loans by the Circuit
Investments with TMCP 63 349,311 3,806 353,180 584,828
Central Finance Board Deposits 77,001 77,001 113,306
Cash at Bank and in hand 267,347 28,917 296,264 119,029
Total current assets 359,765 349,311 32,723 - 741,799 834,691
Current liabilities
Creditors (due in under 1 year) 13 3,159 3,159 3,779
Grants payable within 2022-23
Total current liabilities 3,159 3,159 3,779
Net current assets/liabilities 356,606 349,311 32,723 - 738,640 830,912
Total assets less current
liabilities		 2,514,606 349,311 32,723 34,465 2,931,105 2,422,514
Long term liabilities
(due after more than oneyear)
Grants payable after 2022-23
Loans to the Circuit
Net assets 2,514,606 349,311 32,723 34,465 2,931,105 2,422,514
Funds of the Circuit
General Fund (Unrestricted) 2,514,606 2,514,606 1,779,317
Circuit Model Trust Fund
(Unrestricted)		 349,311 349,311 581,342
Designated Funds
(Unrestricted)
Total Unrestricted Funds 2,863,917 2,360,659
Restricted Funds 32,723 32,723 30,253
Endowment Funds 34,465 34,465 31,602
Total Funds 14 2,514,606 349,311 32,723 34,465 2,931,105 2,422,514

10

Oldham Methodist Circuit Cash Flow Statement for the Year Ended 31 August 2025

2025 2024
Statement of cash flows £ £
Cash from operating activities
Net cash used in operating activities (119,301) (62,471)
Cash flows from investing activities
Dividends and interest from investments 29,740 29,983
Net proceeds from the sale of tangible fixed assets - 304,020
Cash balance transferred from Honeywell Church 1,706 6,339
Net cash provided by investing activities 31,446 340,342
Change in cash and cash equivalents in the year 87,855 277,871
Cash and cash equivalents at the date of merger (1stSeptember 2021) 848,765 570,894
Cash and cash equivalents at the end of the year 760,910 848,765
2025 2024
Reconciliation of net movement in funds to net cash flow from operating activities £ £
Net income for the period (as per Statement of Financial Activities) 508,591 (207,486)
Adjustments for:
Dividends and interests from investments (29,740) (29,983)
(Gains)/losses on property revaluations and disposals (598,000) 13,301
Capital receipts and bank/investment account closure transfers (1,709) (310,359)
Reclassification of property funds - 466,699
Increase in debtors 2,174 15,158
Increase/(decrease) in creditors (620) (9,801)
Total cash generated from operating activities (119,301) (62,471)
2025 2024
Analysis of cash and cash equivalent £ £
Cash at bank 387,645 119,029
Central Finance Board Deposits 77,001 113,306
Trustees for Methodist Church Purposes deposits 296,264 616,430
Cash and cash equivalents at the end of the reporting period 760,910 848,765

11

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

1 Basis of accounting policies

i Accounting standard

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.

ii Public benefit entity

The Oldham Methodist Circuit meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical costs or transaction value unless otherwise stated in the relevant accounting policy note(s) below.

iii 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. Restricted funds which are held for a narrower purpose . There are also Endowment funds as listed. Details of each material fund are disclosed in the final note to these accounts. Any funds may be represented by more than just cash.

iv 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. The accruals basis has been used and trustees present accounts that show a true and fair view of the Circuit’s financial position and activities.

v Content

The financial information presented is relevant, reliable, comparable and complete. Where estimates are used these are based on experience, research, and judgement. The accounts are expressed in £ Sterling, rounded to the nearest pound.

vi Going concern

Based on the monetary assets and human resources available at 31 August 2024, the trustees believe that the Circuit is a going concern.

vii Consolidation

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 circumstances. For this reason, the financial statements of Churches within the Circuit are not consolidated into these financial statements.

viii Income recognition

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.

Individual amounts categorised as Other income in the SOFA will be shown separately if they are considered material.

The Circuit acts as agent in two matters:

In accordance with the Charities SORP (FRS 102), the time of volunteers is not recognised. If goods are donated, a value will be shown in the SOFA or Notes where the value is considered material.

ix Expenditure

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.

12

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

x 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. When the grant is recurrent over more than one year the balance payable in future years is treated as a provision for future commitments in the Balance Sheet against the appropriate fund, the provision being released in future years as instalments are paid in accordance with the originally agreed terms.

xi VAT

Since the Circuit is not VAT registered, all input VAT is charged with the expenses to which it refers.

xii Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis.

The trustees have made judgements and estimates in respect of: the fair value of tangible assets, and investment properties shown at fair value. The trustees have determined that any differences arising between actual amounts realised upon sale and fair value estimates will have no impact on the Circuit’s ability to continue as a going concern.

xiii Tangible fixed assets

These are capitalised if they can be used for more than one year, and individually cost at least £500.

The freehold and/or long leasehold residential property is shown in the accounts at fair value determined by the trustees based on market value research. The land component is not recognised in these figures. No depreciation is provided on the residential properties because the trustees consider the current residual fair value of the manse buildings (on the assumption that it 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 residential properties have been reviewed for impairment.

xiv (a) Investment Properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in net income/(expenditure) for the year.

From time to time the Circuit may hold residential property (formerly manses) which is surplus to its normal staffing requirements. When the intention is to hold the property for capital appreciation or its rental income, the property is classified as investment property and carried at fair value.

xiv (b) Investments

The Circuit's investments are in monetary assets classified as basic financial instruments under FRS102 and are held by the Trustees for Methodist Church Purposes (TMCP) as custodian trustees. The valuations, at market value, are those provided by TMCP. The unrealised gains arising on investments are shown in the SOFA.

xv Debtors and Prepayments

Debtors are stated at the amounts owed to the Circuit or prepaid.

xvi Creditors and Accruals

Creditors are initially recognised at settlement amount after any trade discounts, or the amount advanced to the Circuit. Creditors include both sundry expenses and specifically the 1st quarter assessment received in August.

xvii Ministers’ manse costs

The Circuit is required to provide accommodation for each minister in the Circuit and their families and this is seen as a benefit to the Circuit. Ministers are expected to occupy the manse provided for them. The Circuit bears the cost of repairs, maintenance, buildings insurance, Council Tax and water charges. These figures are not separately disclosed as benefits-in-kind for ministers as HMRC does not seek to tax these receipts in the hands of minsters.

13

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

2. Net Capital Receipts

Capital receipts relates to the sale of the Salt Cellar Resource Centre. All sales of Methodist property are subject to a levy by the Connexion calculated on a sliding scale based on the gross sale price. The figure is shown net of this CPF Levy. Also, any historic grants made by the Connexion to the closed church are reclaimed from the proceeds of sale before the CPF Levy is applied.

General Fund
(Unrestricted)		 Circuit Model
Trust
(Unrestricted)		 Restricted
Funds		 Total
2024-25
Total
2023-24
£ £ £ £ £
Gross sale (Salt Cellar Resource Centre) - - 466,699
CPF Levy on property sales - - (162,680)
Total proceeds - - 304,020

3. Other Charitable Income

General Fund
(Unrestricted)		 Circuit Model
Trust
(Unrestricted)		 Restricted
Funds		 Total
2024-25
Total
2023-24
£ £ £ £ £
Contribution towards manse costs 3,000 3,000 3,000
Pension reserve refund of previous
contribution made		 - 35,000
Salary recharges 21,019 21,019 9,417
Other 89 89 865
Total 24,108 - - 24,108 48,282

4. Grants and donations paid

General Fund
(Unrestricted)		 Circuit Model
Trust
(Unrestricted)		 Restricted
Funds		 Total
2024-25
Total
2023-24
£ £ £ £ £
Caleb Tiddlers Tots - 360
Donation for 3 Generate tickets 3,000 3,000 3,000
Other - 100
Total 3,000 - - 3,000 3,460

14

Oldham Methodist Circuit

Notes to the Accounts for the Year Ended 31 August 2025

5. Staff Costs

Staff Costs paid during the year were:
Ministers Total Total
(trustees) Lay staff 2024-25 2023-24
£ £ £ £ £
Stipends, salaries and benefits in kind 132,870 12,963 145,833 168,038
Social security costs 13,628 809 14,437 15,030
Pension costs 23,265 202 23,467 39,537
Apprenticeship levy 672 67 739 834
Total staff costs
170,435 14,040 184,475 223,439
Expenses (Travel, accommodation and other expenses incurred in the
normal course of employment) 7,907 16 7,923 10,925
Average number of staff employed during the year were: 5 1 6 7

No employee received remuneration amounting to more than £60,000 in either year.

Wages and salary costs includes £nil in respect of redundancy payments in 2025 (2024: £nil).

6. Trustees’ remuneration and expenses

6. Trustees’ remuneration and expenses
2024/25
£		 2023/24
£
Payments made to trustees for additional services provided to the Circuit by agreement
with the Circuit Meeting		 0 0
Number of trustees who werepaid expenses relatingto trustee duties 0 0
Total amountpaid 0 0
There were no trustees' remuneration or other benefits for the year ended 31 August 2025 (2024: £nil) other than that paid to
ministers and laystaff in the normal course of their duties and disclosed above.

7. Fees for examination or audit of the accounts

7. Fees for examination or audit of the accounts
2024/25
£		 2023/24
£
Independent examiner’s or auditors' fees for reporting on the
accounts		 1,600 1,725
Other fees (eg: advice, accountancy services) paid to the independent
examiner or auditor		 0 0
Total 1,600 1,725

15

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

8. Other outgoings

8. Other outgoings
General Fund
(Unrestricted)
£		 Restricted
Funds
£		 2024/25
£		 2023/24
£
Bad debt written off - 5,840
Stationing 7,998 7,998 -
Salary recharges 20,904 20,904 7,243
Salt Cellar Resource Centre outgoings - 2,566
Total 28,902 - 28,902 15,649

The bad debt written off in the prior year related to a 2011-12 assessment due from Honeywell Lane Church.

9. Property Disposals/Revaluations

The net gains or losses are detailed below. During the year and in accordance with note 1.xiii (Tangible fixed assets) the residential properties have been assessed for fair value and been determined by the trustees as needing to be revalued to market value.

Details 2023-24 Fair
Value		 Sale 2024-25
Fair Value		 Gain/(loss)
£ £ £ £
2 The Avenue,Shaw – unrealised 200,000 370,000 170,000
15 Nudger Green – unrealised 357,000 520,000 163,000
1 Spinners Way– unrealised 300,000 340,000 40,000
2 Bannach Drive – unrealised 228,000 300,000 72,000
9 The Avenue,Shaw – unrealised 302,000 328,000 26,000
Brae Side – unrealised 173,000 300,000 127,000
Total 1,560,000 - 2,158,000 598,000

10. Reclassification of Funds

Circuit property is always carried in the General Fund but upon sale the net proceeds are processed through the Circuit Model Trust Fund. This requires an adjustment and any such sales during the year are reflected below at the gross sale price. There was a net reclassification in the prior year from the sale of the Salt Cellar Resource Centre.

General Fund
(Unrestricted)		 Circuit Model
Trust
(Unrestricted)		 Restricted
Funds		 Total
2024-25		 Total
2023-24
£ £ £ £ £
- - - - (466,699)
- - - - (466,699)

16

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

11. Fixed Assets (including investment properties)

Cost or valuation
Balance brought forward
Additions
Revaluations (+/-)
Disposals (-)
Transfers * (+/-)
Balance carried forward
Accumulated depreciation
Balance brought forward
Depreciation charge for year (-)
Revaluations (+/-)
Disposals (-)
Transfers (+/-)
Balance carried forward
Brought forward
Carried forward*		 Manses Manses
held as
investment
properties		 Other
buildings		 Fixtures,
fittings and
equipment		 Total
£ £ £ £
1,387,000 173,000 0 0 1,560,000
-
471,000 127,000 598,000
0
0
1,858,000 300,000 0 0 2,158,000
0 0 0 0 0
0
0
0
0
0 0 0 0
1,387,000 173,000 0 0 1,560,000
1,858,000 300,000 0 0 2,158,000

The fair value of the manses includes the land on which they are built. The fair value of the manses has been determined by the trustees by comparing the properties to market values of similar properties in the area through online research.

12. Analysis of debtors

Due within one year 2024/25
£		 2023/24
£
Trade debtors 51 2,170
Prepayments 14,553 14,858
Accruedgrant income 750 500
Total 15,354 17,528

17

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

13. Analysis of creditors

Amounts failing due within one year 2024/25
£		 2023/24
£
Trade Creditors 879 1,993
Other Creditors 2,280 1,786
Total 3,159 3,779

14. Detailed analysis of individual fund movements

Unrestricted and Designated Funds

Unrestricted
Fund Name		 Brought
forward
funds		 Incoming
Resources		 Resources
Expended		 Transfers &
Reclassification
Gain/(losses)		 Closing
Balance		 Purpose of
the fund
General -
property		 1,560,000 - - - 598,000 2,158,000 Property of the Circuit
General -
designated		 - - - 108,000 - 108,000 Deacon salary costs for
the High Crompton
Mission Project
General -
free		 219,317 265,022 (338,951) 103,218 - 248,606 Free reserves for the
general purposes of the
Circuit
Total
General
Fund		 1,779,317 265,022 (338,951) 211,218 2,514,606
Model Trust
Fund - other		 581,342 23,901 (36,740) (523,233) 21 45,291 Support for the mission
of the Circuit
Circuit Trust
Fund -
designated		 - - - 304,020 - 304,020 Proceeds from the Salt
Cellar reserved for
Town Centre Mission
Total Model
Trust Fund		 581,342 23,901 (36,740) (219,213) 21 349,311
Totals 2,360,659 288,923 (375,691) (7,995) 598,021 2,863,917

Restricted Funds

Restricted
Fund Name		 Brought
forward
funds		 Incoming
Resources		 Resources
Expended		 Transfers Gain/(losses) Closing
Balance		 Purpose of the fund
TMCP
Investments		 3,426 431 (12) (5) (34) 3,806 Various small bequests/gifts for
specific purposes.
Internal
Organisations		 26,687 11,441 (17,351) 8,000 28,777 Christians Against Poverty
Pioneer
Mission		 - 7,200 (7,200) - Circuit project for pioneer mission
work
Caleb
Tiddlers Tots		 140 - - 140 Grant gifted for the purpose of the
toddler group
Totals 30,253 19,072 (24,563) 7,995 (34) 32,723

18

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

14. Detailed analysis of individual fund movements (continued)

Endowment Funds

ndowment Funds
Endowment Fund
Name		 How the capital is
invested		 The current value of
the capital		 Annual income What the income was used for
James Cocker gift TMCP (T1473) 33,007 0
Organ Fund TMCP (T3585) 1,458 0
Totals 34,465 0

Prior year comparatives for detailed analysis of individual fund movements

Unrestricted Funds

Unrestricted
Fund Name		 Brought
forward
funds		 Incoming
Resources		 Resources
Expended		 Transfers &
Reclassification
Gain/(losses)		 Closing
Balance		 Purpose of
the fund
General 2,210,915 281,278 (334,089) (365,486) (13,301) 1,779,317 The general purposes
of the Circuit
Model Trust
Fund		 343,402 364,308 (17,984) (109,213) 829 581,342 Support for the mission
of the Circuit
Totals 2,554,317 645,586 (352,073) (474,699) (12,472) 2,360,659

Restricted Funds

Restricted
Fund Name		 Brought
forward
funds		 Incoming
Resources		 Resources
Expended		 Transfers Gain/(losses) Closing
Balance		 Purpose of the fund
TMCP
Investments		 3,213 158 (14) 69 3,426 Various small bequests/gifts for
specific purposes.
Internal
Organisations		 24,879 12,960 (19,152) 8,000 26,687 Christians Against Poverty
Salt Cellar
Resource
Centre		 7,989 - (7,989) - For closure costs of the Salt Cellar
Resource Centre
Pioneer
Mission		 9,539 9,787 (19,326) - Circuit project for pioneer mission
work
Caleb
Tiddlers Tots		 - 500 (360) 140 Grant gifted for the purpose of the
toddler group
Totals 45,620 23,405 (46,841) 8,000 69 30,253

19

Oldham Methodist Circuit Notes to the Accounts for the Year Ended 31 August 2025

Endowment Funds

ndowment Funds
Endowment Fund
Name		 How the capital is
invested		 The current value of
the capital		 Annual income What the income was used for
James Cocker gift TMCP (T1473) 31,602 0
Totals 31,602 0

15. Analysis of net assets between funds

Fund balances at 31 August 2024 are represented by:

General Fund
(Unrestricted)		 Circuit Model
Trust
(Unrestricted)		 Restricted
Funds		 Endowment
Funds		 Total
2024-25
£ £ £ £ £
Tangible fixed assets 2,158,000 34,465 2,192,465
Current assets 359,765 349,311 32,723 741,799
Current liabilities (3,159) (3,159)
Total 2,514,606 349,311 32,723 34,465 2,931,105

16. Related party transactions

During the year the Circuit received assessment income totalling £222,000 from the various churches within the Circuit (2024: £246,216).

The Circuit incurred assessment costs of £57,821 payable to the District (2024: £54,216 ).

The Circuit incurred an annual levy to the District Advance Fund of £34,851 payable to the District (2024: £17,005).

20

Re rt of the Ind ndent Examlnets To the Trustees of Oldham Methodlst Clrcult I report to the char4ty trustees on my examination of the accounts of Oldham Method15t arCU￿ for the year ended 31st August 2025 which are set out on pa8es 8-20. ResportslbHldes and report As the Chartys trustee5 you are responslble forthe preparatkjn of accounts accordante with the requlrements of thÉ Charltles Act 20111'the ACVI. l ￿port in respettof myexaminationofthecharltysaccountscarrledout underseEtbn 145 of theActand IncarryIngo￿rnYexaM1natIon I have followed all the appllcable Dlrectbn5glven bythe Charlty CornrnTsslon undersertkjn 14515llbl of the Act. Independent examlnerfsslatement I have cornpleted my e¥aminatlon. I conflrrn that no mtslal matters have come to my attentlon In connectlon with the examlnbtlon gfvln8 me ¢au* to belleve that In any materlal respect.. attountlng fecords were not kept In respectof the chartty as requlred by sectlon 130of the Art,. or the accounts do notaccord wfch those records- or the attounts do not tompty wlth the appltsble requirernert5 ctsnwninE the form and content tsf accountsset out in the Charit￿$ (Account5 and Reports) Regulatlons 21M)8 otherthan any requlrement that the accounts glve è #Tue and fllr whlch Is not matterconsldered as parr o18n Independent examination. I have no concems and have ttjme acr055 no other matters in connectDTr with the examination to which attention should be drawn in thL8 report In orderto enabk a proper utthr5tarsdlDgof the accounts to be ￿8¢hed. Leanne Nleld ACA ArcAccountsrySolutbns Limlted 51 Laverton Road Lytham St. Anne5 Ugncashlre FY8 IEN 21