The Methodist Church The Methodist Church Gornal and Sedgley Circuit Circuit number 28114 Charity registration number 1206227 Trustees, Report And Financial Statements For the year ended 31" August 2024 The Methodist Church Gornal and Sedgley Circuit Pa8elof9
Administrative Information Circuit Superintendent Rev C John Hartley Lay worker Mr William Caldwell (church and community worker 15 hrslweek} Circuit Leadershlp Team Rev C John Hartley (superintendent minister) Mr William Caldwell (Church and Community Worker) Mlss Jenny Beardsmore (Circuit Steward and Treasurer) Mr David Glll (Circuit Steward) Miss Abigail Jones Iclrtuit Steward) Circuit Meeting Secretary Mr Jeremy Turner Independent Exarniner Swanranjit Singh Sohall Sandwell Accountanoi Services, Old bank buildings, Upper High Street Cradley Heath B64 SHY The Methodist Church Gornal and Sedgley Clrcult Page2of9
Trustees, Report Governance and Management The Clrcutt is governed by the Methodist Church Act 1976, the Deed of Union and the Model Trust Deeds of the Methodist Church The purposes of the methodist church are and shall be deemed to have been since the date of union the advantement of - lal The Christian faith in accordance with the doctrinal standards and the di5clpllne of the Methodist Church: and Ibl any charitable purpose for the time being of any Connexional, District, Circuit, local or other organisation of the Methodist Church, and {c} any charitable purpose for the time being of any soclety or institution subsldiary or ancillary to the Methodist Church; The Gornal and Sedgley Circuit is a group of 4 aciive Churches and I Church which is bein8 used under a licence agreements by community groups and an independent evangelical church. The clrcuit is part of The Wolverhampton and Shrewsbury Dlstrict, which itself is one of 23 Districts which make up the Methodist Church of Great Britian. Whi15t there is some autonomy all Methodist organisations are governed by stsnding orders determined by the Methodist Conference, and which are published annually in the Constitution, Practice and Discipline of the Methodist Church. Conference is the supreme body within the church- However because it meets annually, it delegates much of its authority to the Methodist Council. Both the Conference and the Council consist of lay and ordained members In setting objectives and planning acttv5ties, the Circuit Meeting, held three or four times each year, has glven careful consideration to the Charity Commission's general guidance on public benefit and, in particular, to its supplementary public benefit guidance on advancing our objectives as set out above. During the year the Clrcult Leadershlp Team ICLTI - whlch consists of the ClrcLStt Superintendent, the Lay Church and Community worker and Circuit Stewards- met regularly to keep the life of the Qrcuit under review and to take forward the decisions of the Circuit Meeting. The Methodist Church Gornal and Sedgley Circuit Page3 of9
Activities Our mission is, along with other local church groups, to be a powerful, spiritual Influence in the community and a visible expression of God's love. We aim to achieve this by encouraging worship, soclal and outreach activities that currently exist within the churches in our Clrcult, and also by seeking new way5 to extend to others the fellowship of the Church family. Organlsational Structure l. Overall control rests with the Methodist Conference. 2. The Connexional Office implements decisions made by Conference and is also responsible for the stationing of Ministers in individual Circuits. 3. Connexional decisions are passed to the Chair of the District and the appropriate Officers of the District for gIOnal implementation. 4. The Districts pass the control down to Circuit level for local implementation by the Superintendent Minister, Circuit Stewards and others. Authority can be delegated by the Connexion and Distrirt to the Circuit Meeting for certain matters. 5. The Circuit Meeting passes control down to Church Councils for local Implementation by the Minister, the Church Stewards and other officers. The Church Councils act as Managing Trustees of the local church. 6. The Superintendent has responsibility for chairing meetings of the Circuit Leadership Team ICLTI and the Circuit Meeting, which trustees are expected to attend. Policv decisions are taken at the Circuit Meeting which is the supreme body for deciding matters at Circuit Level. Some powers are delegated by the Circuit Meeting to the CLT and other groups. 7. Churches, Circults and Districts are able to pass matters upwards for consideration, ultimately to the Conference, for consideration and implementation where appropriate. 8. The Methodist Connexional year runs from I Septemberto 31 August. Charity Registration The Methodist Church Gornal and Sedgley Circuit was registered as a charity in December 2023 Due to Its Income exceeding the £IOOK threshold. The Methodist Church Gornal and Sedgley Clrcult Page4of9
The Trustees confirm that they have complied with the duty under the Charities Act 2011 to have due regard to the Charity Commission'5 general guidance on public benefit. Specifically: many churches make their premises available to other organisations that need Somewhere to meet some churches have lon8 term tenants uniformed organisations (scouts, cubs, beavers, guides, brownie5 and rainbowsl are affiliated to some of our churches and meet on church premises other outreach activities raising money for other charities Trustees The following Trustees (some with dual roles) were listed as current as at August 2024. Records are held of the Trustees In post and attending meetings during the course of the 2023-24 year. Name Colin John Hartley William Caldwell Jennifer Olwen Beardsmore Representing Circuit Circuit Circuit Primary Role Superintendent Minister Church and Community Circuit Steward and Treasurer Circuit Steward Circuit Steward Circuit Meeting Secretary Representative Representative Representative and Charity Commission Manager Representative Representative Representative Representative Church Treasurer Representative Representative Church Treasurer Zoar Church Treasurer Representative Representative Church Steward Network Secretary Abigail Rebecca Jones David Gill Jeremy Charles Turner Stephanie Teresa Watchorn Malcolm Paul Watchorn Jonathan Jamesjones Circuit Circuit Circuit Five ways Five Ways Upper Gornal Trevor Leighton Amphlett Linda Jayne Morris Mary Elalne Hyde Paul Mark Raybould John Parker Jean Marjorie Bennett Rachel Elizabeth Harris Janice Josephine Checketts Sarah Joy Rogers Michael Timmins Stephen Ratcliffe Barry Irving Priest Brenda Maureen Priest Upper Gornal Himley Road Five ways Upper Gornal Upper Gornal Upper Gornal Five ways Lake Street Himley Road Himley Road Five ways Lake street Circult The Methodist Church Gornal and Sedgley Circuit Page 5of9
John Dee Caroline Parker Michael Parker Gemma Ann Smith Himle Road Lake Street Lake Street Circuit Church Treasurer Representative Representative Local Preacher's Secretary Church Steward Representative Safeguardin8 Officer Circuit Helen Emma Jane Newton Geoffry Michael Donnison Antionette Jackson Himley Road Himley Road Circuit Safeguarding The Methodist Church works in partnership with other Christian Churches and other agencles In dellverlng safeguarding. The Clrcuit supports the following statement of principles agreed by the denominations.. Commitment to: The care, nurture of, and respectful pastoral ministry with, all children, young people and all adults The safeguarding and protectlon of all children, young people and all adults The establishing of safe, caring communities which provide a loving environment where victims of abuse can report or disclose abuse and where they can find 5UPPOrt and best practice that contributes to the prevention of abuse Each church in the Circuit appoints a safe8uardin8 representative and the Circuit appoints a Safeguarding Officer to coordinate policiesi practices and training which promotes safe practice amongst children and vulnerable adults. Staff Responslblllties & Changes Revd. C. John Hartley was appointed to the circult in September 2022 and became the Superintendent Minister of the Circuit on 1st September 2023 when the circuit reduced its staffing and became a single minister circuit. He therefore has pastoral care of all the active churches in the circuit and overview of Zoar Methodist church which is used under licence by a number of community groups and an independent evangelical church. Negotiations are ongoing about the future of this church, which at present is under the trusteeship of the Circuit Meeting, Mr William Caldwell is the Church and Community Worker, he is self- employed and the circuit pays for 30 hours of his time each week. The Methodist Church Gomal and Sedgley Circuit Page6of9
The Circuit has been aware for some time that it is in a vulnerable position as a single mlnister circuit and moving forward there are plans to merge with another Single Minister Circuit, which should take effect in September 2025 Rlsk Management Risks faced by the Clrcuit have been considered by its leadership team. Vlhere approprlate risks are insured- currently with the Methodlst Insurance Company. The security and safety of our churches is largely for those churches to determine and to mitigate, takin8 advice from Circuit offir5 and insurers as appropriate. All churches and manses are the subject of quinquennial inspections and the reports on each are reviewed by the Circuit as well as the local trustee5. Action is taken to reduce the risks of injury to all who have a legitimate purpose to be on those premises. All Churches have reported that they have been surveyed for the presence of asbestos, and are following appropriate courses of actfjon to mitigate any risks. We have considered the resilience of churches and the risk that they will not meet their assessments. We judge that there are sufficient resources to cover any possible Shortfall in the following year. The Circuit operates within a statutory framework of re8ulation and seeks to ensure that it follows Methodist standing order5. It relies on the Connexional Office to provide guldance on Changes that could affect the Circuit. Trustees, Expenses With the exception of the Rev C John Hartley (Superintendent Minister)and Mr William Caldwell (Church and Community Worker) who can claim for travel and administrative expenses, and a very small number of claims for reimbursement of small-value administration costs, members of the Circuit Meeting received neither payment nor reimbursement of their expense5 Sn connection with thelr function as trustees. Trustees, Responsibilities The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the Circuit's financial activities during the year and of its financial position at the end of the year. In preparin8 these financlal statements. the trustees have.. selected suitsble accounting policies and applied them consistently using the receipts and payments method made judgements and estimate5 that are reasonable and prudent The Methodist Church Gornal and Sedgley Circuit Page 7of9
followed applicable accounting standards prepared the financial statements on a going concern basis. The trustees are responsible for keeping proper accounting records that disclose with asonable accuracy at any time the financial position of the Circuit and enable them to ensure that the financial statements comply with the law. They are also responsible for safeguarding the assets of the Circuit and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Trustees have a rl8ht to advise the independent examiner of their COnrn5 but none has done 50. The CLT concludes, therefore, that there are no issues to be advised to the independent examiner. Flnanclal Review The Circuit prepares receipts and payments accounts. They are not a consolidation of the accounts of churches in the Circuit. The Circuit budget is pPared by first anticipating the expenditure for the forthcoming year and then determining how that sum will be raised. The Clrcuit adopted the following policy for the reserves in the 2023-24 year.. For eneral unds- Sufficient funds will be maintained to meet day-to-day operating expenses, including stipends and manse costs. They will be topped up as required by withdrawal from the Model Trust Fund. For the Model Trust Fund- General expenditure currently exceeds income by approximately £20k per year and assessment Income is steady-so at least £IOOK needs to be kept in reserve to ensure current activitie5 can continue for a five year period. Until the circuit amalgamation takes place there are no plans for any additional expenditure of staff costs. Capital Assets The proceeds of sale ofthe premises of any Methodist Church or manse within the Circuit Is generally credited to the Circuit. There is, however, a substantial levy paid to the Connexion (the Methodist Church in GB) so not all of the proceeds are received by the Clrcuit. During the course of the year 2023-2024 there were no property sales. The last being in the year 2022-2023 when the Manse on Summer Lane was sold . The assets from that sale now form the bulk of the circuit Model Trust fund. Fundlng of the Circuit's Costs This is achieved primarily by making an assessment on each church within the Circuit. If any church closes that church's assessment cease5 to be paid to the Circuit. The Circult's costs The Methodist Church Gornal and Sedgley Circuit Page8of9
principally the stipends and houslng costs of the ministers- would continue and there would be a need to draw OD reserve5 to meet the shortFall in income. Annual costs The Circuit believes that it should ensure that it has income and reserves sufficient to cover the stipend and manse costs of its Superintendent Minister, and the cost of the Church and community worker. Approvals This Annual report and Financial statement of the Circuit were approved by the Circuit Ih Meeting held on the 6 March 2025, following the preparation of the accounts and their approval by Sandwell Accountancy Services. The examiner Swanranjit Singh Sohall signed the Financial Statements on to contirm he had completed the inspection satisfactorily. Signed on Behalf of the Trustees Rev C John Superintendent minister Miss Jenny Beardsmore Circuit Treasurer The Methodist Church Gornal and Sed8ley Circuit Page9 of9
REPORT OF THE UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 FOR MEfHODIST CHURCH: GORNAL & SEDGLEY CIRCUIT Sandwell Accountancy Services Ltd Cerbfied Putlic Accountants Suite A. Old Bank Buildings Upper Hjgh Street Cradley Heath West Mi(Aands 'R64 gHY
Methodist Church: GORNAL & SEDGLEY CIRCUIT Contents Page Dedarations & scrutiny Independent examin8rfs report lo the member Statement of financial actlvlties Statement of finanal position Notes to the financial sLqtements Tho following pages do not fomi part of the flnancial statemgnt8 Detailed sLqtement of financial activities 11 Notes to Ihe detailed statement of financial actNiti8S 12
Methodlst Church: GORNAL & SEDGLEY CIRCUIT Declarallons & Scrutlny Year ended 31 August 2024 I confimi thatthese Accru818 based ntSfthe yearto 31stAugusl 2024 have been prepared from the reS of th8 Circutt and Ihat they inckKJ8 al funds under thB contml of the Circult meèting. Signature of treasurer............. Name and address of Ireaswar Mis6 J O Beardsmoro Penryn 93 Summer Lan8 Lower g(n81 LJdley DY3 2HA Prgsontation to tho Circuh MeTrU I confirm that the annual report and ac1x pr8s8nled to the Ctrcuil meeting h8hJ cm...a) e y8ar ended 315t August 2024 wor&lwill be Signature of the Chair the meetirwJ Name of the Chair of the mwting Rov C J¢thn Haruey Pago 1
Methodist Church: GORNAL & SEDGLEY CIRCUIT Indépendent Examiner's Report to the Member of Methodist Church: GORNAL & SEDGLEY CIRCUIT Year ended 31 August 2024 I report to the member on my examination of the financial ststements of Methodist Church.. GORNAL & SEDGLEY CIRCUIT for the year ended 31 sl August 2024. Responsibilitie$ and basis of rèport I report in respect of rny examination of the accounts as carried out under sgction 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by Ihe Charity Commission undèr s8ctk)n 145(5llbl ol the Act. Indapgndent examlnarfs statement I have complÉl8d my examination. I confirm thal no material matters hav& como to my attention in conn8¢1ion with the examination giving me ¢8LJse to believe: accounting records were not kept in accordance with section 130 of the Act- or the financial statements do not accord wilh those records. I have no ¢onc&rns and have come across no other matl8rs in connection with the examin8hon to which attention should be drawn in the report in order to enable a proper understanding of th8 accounts to be reached. I have no obtained independent verrfication of all investments with the Trustees for Methodist Church Purposes or held in other trusls, bank balancès and funds at the Central Finance Board ofth8 M8thodist Church whi¢h are individually in excess of18n thousand pounds at the balance sheet date. Swaranjil Singh Sohal FCPA Suite A, Old Bank Buildings Upper High Street Cradley H981h Wast Midlands B64 SHY Pay¢ 2
Methodlst Church: GORNAL & SEDGLEY CIRCUIT statement of Financial Activities Year ended 31 August 2024 2023 Unreslrfcied Restricted funds Total fund$ Tolal fur5 Inc¢me and endowmènts 0tr)or Income Assessment in¢x) 11.327 71.(M)O 82.327 11.327 71.000 82.327 6.730 201,023 207,753 Totsl Incom¥ Expgndlturo EnltUre on charitable aCtivitS Total expendlturg 45 102.250 102,250 225.004 225,004 102.250 102,250 Net gains on inv88tmants 9.490 72,956 Not Incom• and net movgm•nt In funds (10.433) (10.433) 55.705 Ra¢on¢lliallon of funds Total funds oUght forward Total funds car forward 607.565 597,132 18.(NM 18.004 625,569 569,864 625,569 615,136 Th8 ststement of financial activttias includes a¥ gains and losses rBwJniwl In thè y8ar. I Income and 8XP8ndfiure d8riv8 Irom Wlbnuing activities. Thè nt>teB on pages S to 9 fwm partof Il*#e lInala1 statèmgnts. Pago 3
Methodlst Church: GORNAL & SEDGLEY CIRCUIT Statsmenl of Financlal Position 31 August 2024 124 Flxod asset8 Invgstments 351.6 Curront assets Investmonls Cash 8t bank and in hand Prepayments 10 179,726 73,296 3,663 256.685 222,5T7 50,073 3.589 276.239 crlIOrs. arnounts falllng due wllhln one yè•r Nfjt Trent aJ89ts 11 (2.4951 254.190 12,1261 274,113 625,569 625,669 assats kns curr•nl Ilablities 615,136 N•t assots 615.136 Funds of th• charity Restricted funds UnreslriCt8d funds 18,004 597,132 615,136 18.004 607.565 Tutsl Charity funds 12 625,5e9 Thg on page8 6 to 9 forn) partofthtse ffirwthl statemenis. Page 4
Methodist Church: GORNAL & SEDGLEY CIRCUIT Notes to the Financial Statements Year 8ndod 31 August 2024 Aceountlng polido4 Ba¥1¥ of pr•pardtion Th8 fin8nual 8talements havg Ion wepared the historral cost b8818, exc6pl that fixe(l a88el invèstrnents are shown al their insuran( value 81 th6end ofth8 yèar. Th aC(alS basi5 hBS b88n used and accounts show a true aThJ far wew of Ihè Circuit& fin8neid positk>n and activities. Golng concern There are materHI uncwtaknties thrt lh¢ Ckr)JlV8 lo c(MJilnu8. Incomlng resou PJI i1Me is indude(I In the stalament of fb}la1 actiwti&s when entrtlement has passed lo tha Clrcuil. il is probabl8 that the ecrn benefits associated with the Irdnsaction wll Ilow to th Circuh and the am¢)unt can be re[b m8asured. The folknvtng spwific poiicies are applied to Partlar cat8gorigs of iirx>me: Indwidual amwnts ¢atwised as Othw Irv>Th in the SOFA will bo shovm separdtsly if they are consid8rad material. The Clrcuit as nt In tw ways: The colion from Church6s and payment ovor ¢A their contribuU$ to Various Funds controllgj 8rKI adminlslered by The Methodist Churth-"Connexic7al Funds" The admlnislration {8ppltati(. cAAfethw)n and disbThm8ntl of grants wuested by ChurGhes withln the CircAJit from, bul not Ilmited to. ts Dislrtt and conX. In al the88 matters the transo(aions arn not rellected in tha SOFA Wus8 they are tha incom8 of eilherlhe Conr0 or Churches 84>WCV Resoure•$ 8xponded Expenditwe Ls recognl8ed on an accnJ bask8 as 8 fiaknlty i5 lllcLwJ. Expenthre indudes VAT which cannot be fuly r8covered, arKI daSsI Lder headings of the statement of ffinanclal aclivMies to which rt relaies.. Invaslmwt proporty Investmant tWOP8rty is revsk lo its knsur8nce vakne at eath reportirvJ dat8 and eny thatvJe5 falr lue ara ro¢ognised in incrAme exp8ndMure. Page 5
Methodist Church: GORNAL & SEDGLEY CIRCUIT Notes to the Financial Statoments leoft8n¥o Year ended 31 August 2024 othor Incom• UnrestriciBd Restricted Total Funds Funds 2024 Income from inv6slment prop8rtles Bank & CFB kntorest receNed TMPC Interest r0c¢Ned 103 11.224 11,327 103 11.224 11.327 utricted Restricted Totsl Funds Funds Funds 2023 4.770 4,770 B8nk & CFB intsrest re1ved TMPC interest roc¢ivgJ 77 1.883 1.960 4,710 6,730 A58088ment Incom• Unrostrictad Total Funds Unrestricted Total Funds Funds Funds 2023 Gain on dposal of tarfjlbk fLxed assets held for charivs own L6 Assessments 92,133 108.890 201.023 92.133 108.890 201,023 71.000 71,0(Kl 71KilO 71.IXX) Expendiknrn ¢)n charitablè aclivilles by fund typa Unr&8tricled Funds Restrict8d Total Fund$ Funds 2024 Re8tri¢ted Fur)ds Cir(xJit Modd Trust General fund8 SuPpl sts 9.169 2.050 1.031 9,169 92,050 1,031 102,250 102,250 UnrestriclBd Funds Restricted Total Ftjnds Fun(ts 2023 Restricted Funds c1rCU Model Tnt General funds Supyjrt costs 6,862 8,862 107,853 109,689 600 107,853 109,689 600 218,142 6,862 22S,004 Page 6
Methodlst ChurGh: GORNAL & SEDGLEY CIRCUIT Notes to the Financial Statements leojrf Year ended 31 August 2024 EXp0ndlre on charltablD •aMtlgs by aGIMty typ• undertaken di Supp¢ Total funds costs 2024 Total fund 2023 Restricl8d Funds Circuit Mo(io1 Trust General fijnds 6.862 107,853 109,689 600 9.169 92.050 9,169 92,050 1,031 102,250 1,031 101.219 225,OOd Net galns on Inv8stm•nts Ur*8stricted Total Funds Unrestricted Total Funds FurKt$ 2024 Funds 2023 Gainsllk)ssesl Investment wupety 9,490 72.956 72.956 Net Intom? Nèt ineome is stated after ChargIn(Credin9l". 2024 2023 Gaiis on dlsposgl of lang assets I2,133) & Independent examinatlon fw5 2024 2023 Fe8s payable to the Independent examwierfor. Independent &X8minAtk)n of the finant>al 8ts1ements 1,031 600 Page 7
Methodlst Church: GORNAL & SEDGLEY CIRCUIT Notos to the Financt stalem8nts (¢onthw Year ended 31 August 2024 Invastments Inv•stment propertles C08t or valuatlon At 1st Septsmbgr 2023 Addltions DispDsals Falr value movements 351.456 9,490 360.946 At 31st August 2024 Imp8lmi8nl At 1$1 September 2023 and 31st August 2024 Carying amount At 31st Au9USt 2024 At 31st August 2023 360.946 351,456 InsImOnt prOrtI•$ Investment properties ar6 vthed al insuran(* vakn. 2024 2023 101 Vlthvfield Cr8scent 360,946 351,8 ),946 351.456 10. Invostments 2024 2023 TMCP FLtnds Contral Financè Deposit AClx 177,847 1,879 179,726 220.792 1,785 222,577 11. Credltor8: amounts falllng duo wlthln one y 2024 2023 Accnjals and deferred Trade Creditors 1.000 1.495 2,495 6N 1.526 2.126 Page 8
Melhodlst Church: GORNAL & SEDGLEY CIRCUIT Notes to the Flnancial Statsments Year onded 31 August 2024 12. Analy818 of charftsble fund8 Unregtrlctad funds At 1st S&ptemir 2023 At 31st August 2024 Gains and 108ses IncA)n8 Exwdltura Tr8nsf8rs General Funds CirGuII Model Trust Fund TMCP Property 33.825 71,103 {93,0811 45,000 56.847 222,284 351,456 607,565 11.224 {9.169) {45.(MJO) 179,339 360,946 9.490 82.327 111Y1250) 9.490 597,132 Al 18t Seplemt A1315t August 2023 Gains and k)sses Inc(e Expwilture Transfers General Funds Circuit Model Trust Fund TMCP Propwty 35,147 108,967 {110,289) 33,825 1.883 92.133 (107.853) 320.000 1320,000) 222.284 351,45f 506,367 549,768 72,956 202.983 1218.142) 72,956 607,565 Restrlct8d funds At 1s1 At 31st Augu8t 2024 2023 Irthn Exditre Transfers MalorProparty Reserve MSnlsters Removal ResOEve Account Mansè Inspectbjn Reserve accA)unt anse Rental Acox>unt 16.595 16,595 1,225 184 18,004 18.004 At 1st At31st August 2023 2 Incomo ExWdrtu Transfers Major Property R8S8rve Mlnlslers Rèmov Reserve AcGount Manse Inspecllon Reserve account Mansé Fiental Aw)unt 16.047 I4.) 4,610 16.595 3,265 {2.040) 1,225 le) 1160) {60821 4,770 {4,610) 20,096 4770 18,OCJ4 Page 9
Methodlst Church: GORNAL & SEDGLEY CIRCUIT Management Infomiatlon Year ended 31 August 2024 Thèfolowlng pag08 do not f¢rni pa1 of the f*)anolal statom•nt& Pago 10
Methodlst Church: GORNAL & SEDGLEY CIRcurr Detslled Statement of Finan¢lal Activities Year ended 31 August 2024 21)24 2023 Income and endowmonts Imrysknent income Income from investment prop8rti8S Bank & CFB Interest reeeNed TMPC inloresl reiVed 4,77Q 103 11.224 1,883 6,730 11,327 Otherlncome Gain on disposal of tangl tsed assets hekj for charws own use A888ssments on Churches 92,133 71,000 108,890 201.023 71,¢J)O Totsl Incom• 82,327 207,753 Expendlturn Expendllur• on chartt•blp activibes Sb'pEnds. sajaries, NIC. Penslon aTrJ travel Lxtsts Mansè costs Oth&r outgoing8 Dlstrict 8ssessmenl & Leby Adminislralion costs Independent examinrfs fee 60,701 5.769 461 33.511 777 1,031 102,250 78.227 10,366 10,804 124,842 165 600 224,004 Total expdIturn 1ff2.250 225.004 Net gain$ On inveBtments tsainsllloss8s) on invèstment OpertY 9,490 72.956 Net incomo (10,433) 55,705 Page 11
Methodlst Church: GORNAL & SEDGLEY CIRCUIT Nots8 to the Detsiled Slatomont of Financlal Activities Yoar ended 31 August 2024 2024 2023 xpendllure on charftable activlll•8 Restslctsd Funds Actlvltl*$ und8rtak8n dirncty Manse ¢osts Other wtg(Mng5 4.062 2.880 6.862 Circult Model Trust Actlvltlos Undertak dlrecty Other outgoings DistrKI assessment & levy Office expenses 7,034 1(,795 24 8.540 9,169 107.853 General funds Activitles undortaken dlft¥¢ty Stiponds, salarles, NIC, pension and trav81 (xtsts Manse costs Other (gOing$ Dlslrict assessment & Levy Offico expenses 60.701 5.769 461 24.971 78,227 6,304 970 24.047 141 92.050 109,689 Goveman¢• costs Indep8ndenl examiners lees 1.031 600 Expondliur¢ on charltable acimtles 102,250 225,4 Page 12
RESERVES POLICY Report on behalf of Gomal & Sed I Circuit 28114 I'church Counciv Circuit MeetinglDistrict) Circuit Meeti ("Circuit MeetintyDistri¢t) We submit our annual report in accordance wilh the (iii) We have agreed a Reserves Policy which is requirements of the Methodist Conference and the set out overleaf and Is recorded in the Charity Commission gutdance in CC19. tNstees' minutes and our Annual Report {11 The trustees have established their mission aims taking into account 811 of Ihe resources available in tem of people. property and money (Nl We recognise the need lo be accountable as charity trustees for all the money which comes into our hands and will provide further infomiation as required by the CircuitlDistrictlConnexion (li} Misstin initiatNeslproiects have been costed or estimates made of projected future costs which take into account the needs of the buildings and the requirements of the Quinquennial Inspection Reportls (v) Our RepK)rt is aliached overthf . pkne a$ appropriate To be completed by Receiving Body The Circuit Meeting Gornal & Sedgley "Circuit Meeting reiVed the RESERVES POLICY of 28114 . Circuit MeetinglDistrict Policy accepted and athnowledgement sent to the trustees YES Policy noted and the following enquiries made of the trustees Responses received and any further action taken 'Circuit Signatures Please delete as a .Chalr.............. 6131£% ri*e
RESERVES POLICY of Gornal & Sed ley Circuit Meetin 28.14 ("Church Council Icircuit MeetingE]IDistricQ) General Funds held at YE 3110812024 £597.132 Restricted Funds PId £18004 Endowment Funds held £0 Reserves policy for General Funds The Circuit aims to hold in reserve a figure not less than 6 months of the required amount to cover day to day expenditure The General fund is used to cover the day to day expenditure of the Circui( and to include items such as stipends, District charyes etc. The reserves include a valuation of the Circuit Manse. at £360.946 which is not immediately available for day-today expenditure. The net figure resulting in £236,186 5 Polic for Restricted Funds To be used as required, for the maintenance of the Manse and providing for future removal costs of any incoming Minister. Terms relating to Endowment Funds held none This Reserves Policy has teen approved by Circuit Meeting {"Churth Council Icircutt Meeting DistrictEI) Treasurer Trustee Full name Jennifer O Beardsmore Full Name John Parter Signature Signature