Charity r¢gistration number: 1210622 Dudley and Netherton Circuit Annual lieport and Financial Stal¢ments for the Year Ended 31 Au8USt 2025
Dudley And Netherton Cireuit Contents (continued) Trusts¢s' Rep)rt Ito7 Members of the Dudley & Netherton Circuit meeting 8t09 Independent Examinevs Report io Ststement of Finaneiol A¢tiviti¢$ Balan¢e Sh¢¢t 12 Notes to the Financial Statsments 13to22
Dudley and Netherton Cireuit Trustees, Report The Circutt Stewards pr¢s¢ni ih¢ir report along With the financial slatements of the Dudley and Netherton M¢thodis¢ Circuit for ihe year ended 31 August 2025. The financial statements have been prepared in accordance with the attached accountin8 policies. Full Name ofcharity: DUDLEY & NETHERTON CIRCUIT Registralion Charity Number 1210622 Date of registrntion: 24 O¢tob¢r 2024 Main communication address: 33 St Jatn¢s Road, Dudley, DY13JD The members of the Dudley & Neiherton Circuit meetin8 are the Charity Trustees, membership being made up of Circuit olfice holder4 ministers and reprentatIVeS appointed by the local churches. Full m¢mbership is shown on pa8es 8-9 of this report. Circuit Millisters aDd Officers Active Circu Revd David Alford (Superintendent) Circuit La RI¢1w French ircuit Stewards: Mr David Robin50n. Roy Evans, Wendy Goodwin, Pamela Haden. Circuit Officers: Tr¢asur¢r- Mr5 Jan¢tte Robinson Safcguarding- MTS Wendy Goodwin Propety Team- Roy Evans with church proikty stewards Inde en en Neil Westwood & Co, Chartered ACCOUntsn 101 Dixons Green Road. Dudley. W¢st Midland5. DY2 7DJ. Investment Bankers.. Central Finance Board of the Methodist Church Trustees For Methodist Church Purposes HSBC Bank pl¢ Page I
Dudlry ind Netberton Circuit Trnstees, Report (tontiDu¢d) ASm8 and Organlsailon The purposes of th¢ Meth11 Church are. shall be deemed to have been since ihe Date of Unio the odv8nc¢m¢nt of: The Chrimian faith in a¢¢ordance with the I11 standarth and discipline of The Methodist Chur¢h: Any charitable purpose for the time being of any Connexional, Districi CireuiL local. or other organisation of The Methodist Church: Any charitsble purpose for the lim¢ kin8 of any socicty or institution subsidiary or ancillary to The Methodist Church: Any purpose for the time being of any ¢h•rity being • ¢h4Tity $ubsidiAry or ancillary lo The Methodist Church. b) d) Governnee and MaDagemenl The governing dUment for the Circuit is the Ded of Union (1932) and MethTrlisi Church Act (1976). Detailed govern8n¢e arrnn8crn¢nts are ouilird within the Constitutional Prnctice and Discipline of the Methodisi Church by order of the annual wnfefeJ)c¢ (CPD). Day to day managemenl of ihe Cl1( is undertaken by the Circuii Leadership Team along with the Local Prea¢hers' mcetin8. S¢ructure l. Overnll control rests with the MdlKdiM Conferen¢e 2. The Connexional OtTice implem¢nts decisions by Conference and is also responsible for the stationing of Minisiers in individual Cl7 3. Connexional decisions are passed to the Chair of the District and the appropriate Officers of the District for regional impl¢menlalion 4. The Districts pass the ¢oniToI io Cl1¢ level for local implementation by the Superintendent Minister, Ministeri81 stAff. Circuit Stewards and oihcrs. Authority can be delegated by the Connexion and District to Ihc Circuit Mc¢tin8 for certain matters 5. The Circuit Meeting passes control down to Church Councils for local implemenialion by ihc Minimer, the chh Stewards and other officeTS. The Church Councils as Managing Trusiees. 6. The Superintendent has ihe responsibility for ¢hairin8 me¢tin8s of the Circuit Leadership Team (CLT) and the Circuit Meetin& which trustees are expected io attend. Policy decisions are taken at the Circuit Meeting which is the supreme b(Mly for decidin8 matt¢rs at Circuii L¢v¢l. Some werS are delegated by the Circuit Meeting to the CLT and oiher w)ups. 7. Churchffj Circuits and Districts are able to pftss matters upwards for consideratM) uhimately to the Conference. for wnsid¢raiion and implementation where appropriaie. 8. The Methodist Conn¢xional year runs from I Wtember to 31 August. Pa8e 2
Dudley and Netherton Circuit Trustees, Report (eontinued) Th¢ Dudley and Netherton Circuit is a group of 6 churches sIated mainly within the centr81 area of the borough of Dudley with its border of Sandwell. It is proud of its industrial heritage being in the heart of ihe Black County. The mission statement of th¢ Dudley and Netherton Circuit aims to connect with people of all ages and backgrounds lo enrich spirituality in daily lives, study, fellowship and prayer and to grow a caring community that reaches out beyond the church walls with Christian love to all The Circuit produces a bi-monthly preaching plan to ensure that regular acts of worship tak¢ place at each of the 6 Methodist Churches in its geographical area. The Dudley & N¢therton Circuit is constituted to offer acts of worship in its church wmmuniti¢5 and io further lh¢ mission of the Church in central Dudley> Netherton bordering on Sandwell. With our primary internal function being that of Christian worship, we organise acts of worship in each of the 6 Circuit churches every Sunday morning with an evening service held in one of four of our churches on rotstion. Our internal structu 15 based on a C1Ult Meeting which meets twice a year. a Local Preachers, meeting which meets four times 8 year. Circuit Leadership Team meetings throughout the year, and Stsff Meetings which fornially meet quarterly with additional mMunIcation weekly. We endeavour to make our mc¢tings more than just 'talking shops they are the place where important decisions are made and within them, we plan our strategies and fulfil our role as Charity Trustees. Publle Benefit We confirni the trnslees have had regard to the Charfftty Commission's guidance on public benefit. Trust¢¢ Tr4ininE A range of guidance is produced by Methodist Connexion to support th¢ ¢ff¢otiv¢ runnin8 of the CircuiL specifically the leaflet 'The Role of a Trustee in The Methodist ChUh, is given to all new Circuit meeting members as induction to their role as Trustees. Related Parties The ¢ircuit is part of Wolverhampton and ShreWsY District aJ)d is also accountable to the Meth¢)dist Conference. The following Methodist churches are linked tt) the Circuit: Central. Cole Str¢¢L Dixons Green. Knowle, St James (Pensnett) and Woodside. Review of the year Our staffin8 for th¢ y¢ar has been on¢ preseral minister and one part-time lay worker. The pastoral care of the members of all church¢s including a fornier ¢hurch which closed in 2023 was forefront in the minds of staff and Circuit stewards. One church holds a fortnightly circuit youth group with the youn8 people attendin8 3G¢net7t¢ and Amplify. Anoth¢r Church hosts a food bank once a week along with an internet cafe. Five of th¢ six churches let their buildings for the us¢ of community groups. in addition. churches have regular activities run by member4 for the benefit of both church members and non-church members. Page 3
Dudley and Iyetherton Circuit Trust¢u' Report (Continued) FiDanclal Revlew A protmised balanced budget is produced each year. During the year, income exeeeded expcnditure due to less expenditUTe on an pty manse though there was increased maintenance on the occupied property. The unoccupied manse was pul up for sal4 the proceeds of which will be received in th¢ next financial year. Ineomc trcnds Circuit ineomc is primarily dra from the asSeSsnI paid by the cir¢uit ¢hur¢hes. The rental income r¢lat¢s lo the rcntsl of a manse and income genernted on the money inv¢sted ai CFB. The withdrawal of funds from TMCP. which was considernbly increased by the sale of a ¢huTeh ij) the previous year, is lo cover the circuit's assessment to the districi in th¢ forthcomin8 year. Expenditure trends With the decrease in staffin& stipend exF¢ndilur¢ de¢r¢asa Considerably though slipends continue to increase each financial year in line wilh confcrcnce approved increastt with a similar percenla8e increase for our lay WOTk¢r- this a¢Uts for over s/0 of the expenditure. In addition, a further 26•/• of ¢xp¢ndilure is the Circuit contribution to the District and Connexion, of which a si8nifi¢ant part is Used to fund the work of the wider Methodist Church. Th¢r¢ has also been less use of visilin8 prea¢hers and therefore a decrease in associated costs. Fund balances As ai 31 Augu 2025. the nel ¢UTrent assets of the circuit were approximately £190,000.00 a sli8hi increase on the previous yur. Plans for 202Y26 Ciwuit financial plans for the comin8 year have been prepared on the basis that the staff leam is one full lim¢ OTdain¢d m¢mbcr. with an increase in Ibours for the lay worker, by withdrnwing funds held at TMCP io cover the cost of the assessmeni to the districL it has been possible to decrease the assessmeni requestrd from each of ihe Circuit churches. A different fonnula has been uiilised which will be reviewed during the ycar in pr¢pArntion for 202&2027. The spxifK plans for the year include: To mainlain ststutory requirements on ¢upIed manses To undertake renewal of the bathroom ai Si James Road manse, uptIng to ensurt it i$ fil for pu0$¢ To consider the best use of the funds available followin8 the sale of a manse To miew s¢affin8 requirements for 202&2027 arml future years Re*rveJ Policy GeDerAI It is the Trustees. wlicy to maintsin a balance of unrestricted and undesignated funds wuivalenl to around six months average unrestricted ¢xpenditurc. plus six months districi assessment and an extra £5K to cover unexpected reqvirements which may occur from time lo tim¢. Pthge 4
Dudley and Netherton Cireult Trustees, Report (continued) RLgk Management The major risks associated with the Circuit have been idcnlifjed by the Circuit Leadership Team. A Tegular review process is in place and is recorded. Safeguarding Every person has a valu¢ and dignity which comes directly from the creation of male and female in God's own image and lik¢n¢5s. Christians see this potential as fulfilled by God's revcreation of us in Christ. Among oth¢r things this implies a duty to value all people as bearing the ima8¢ of God and therefore to protect them from harni. MethiKIi5t Conncxional practice outlines commitment to the following prin¢ipl¢s: . the care and nurture of, and respectful PAStoral mini5ty with. all childTcn. youn8 people and adults • the safc8uarding and protection of all children, young people and adults when th¢y are vulnernbl¢ the establishing of Safe, carin8 communities which provide a loving environm¢nt where there is infomied vi8ilan¢e as to the dangers of abuse. • we will carefully select and trnin all those with any responsibility within the Church, in line with Safer R¢cruitment principle4 including the use of criminal records disclosures and registration with the Tclevant vettin8 and barring schemes. we will respond without delhy to every complaint made which suggesls that an adulL child or youn8 person may have been harrned, ¢(N)peratin8 wilh the police and local authority in any investigation. we will seek to work with anyone who has suffertd abuse. d¢velopin8 With ihem an appropriate ministry of informed pastor81 care. • we will wk to challenge any abuse of power. especially by anyone in a position of trust. we will seek to offer pastoral care and supporL including supervision and referral to the proper authoritie& to any member of our church community known to have offended against a child, youn8 person or vulnerable adulL in all these principles we will follow legislation. guidanc¢ and recognized good practice. The Dudley & Netherton Circuit commits itself to ensuring the implementation of the Conn¢xional Safeguardin8 Policy. government legislation, guidance and safe practice in the circuit and in our chur¢h¢& in¢ludin8 carrying out enhanced DBS checks as required. The Dudley & Netherton Circuit commits itself to thc provision of suppor¢ advice and training for lay and ordained people thai will ensure people are clear and confident about th¢ir roles and responsibilities in safeguarding and promoting the welfare of children and adults who may be vulnerable. We adhere to the ¢hurch's Safer Recruitment Policy. Our Circuit Safeguarding Officer, Wendy Goodwin, continues to maintain regular contact with our Church Safeguarding Officers to ensure that best practice is being followed in our churehes and th&t effe¢tive communication about Safeguarding matters continues. The Circuit's ftiur prioritie4 as a8reed by CLT and the Circuit Meetin& for this connexional yegr remain.. Page 5
Dudley and Netherton Cireu5t Trnstees, Report (eontinued) to ensuR the correct level of trninin8 is untakcn by our church m¢miw4 depending on their role to ensure that DBS checks are caTried oui by our memiKrs, appropriate to their role to ensure that the principles laid out ij) thc Safer Rruith1ent Policy are known and adhered to to support our Church Safeguarding OfficeTS in their work Statement OrTnle¢s, Respollsibilities The trustees are r¢sponsible for pteparing the trusteeg report and the financial ststements in accordance with th¢ United Kingdom Accounting Standards (United Kingdom Generally Acttpi A¢¢ounting PTactice) and applicable law and yegulatiorts. The law appIlble to charities requires the trustees to prepare financial ststements for each financial year which 8iv¢ a true and fair view of the state of affai]5 of the charity and of the incoming resources and application of SOUrCeS of the charity for that pericrtl. In preparing these financi8151atement& the trustees are required to: select suitable accounting policies and then appty them consisl¢ntly: observe the methods and principles in the Charities SORP. make judgements and estimat that atc reasonable and prudent" stale whether applicable accounting stsndards have been followed. subject to any materlal departures disclosed and explained in the financtal Statemen and prepare the financial Statements on the going con¢¢rn basis unless it is inappropriate to presume that the charity will continue in business. The trustees are re5wn5ible for k¢¢pin8 proper accounting records that disclose with reasonable accuracy at any lime the financial w)sition of the charity and enabk them to ensure that the financial statements comply with the Charitie5 A¢t 2011. the Chariiies (Accounts and Rep)rts) Regulations 2008, and the provisions of the constituti. The trustees are also responsible for safeguardlng the assets of th¢ charity and hence for taking reasonabk steps for the prevention and detection of fraud and other irregularities. Page 6
Dudley and Netherton Circuit Trnstees, Report (continued) The trustee5 are r¢5PODsibl¢ for ihe maintenance and integrity of the corporafr and financial inf0mtIOn included on the charitable company's website. Ixgislation governing th¢ preparation and dissemination of financial statements may differ from legislation in oth¢r jurisdi¢tii)ns. The annual report was approved by the trustees of the charity on 16 MaT¢h 2026 and signed on its behalf by: Reverend R D Alford Trustee Mrs J Robinson TNstee Page 7
Dudley and Trletherton Clreult Membern of the Dudley & Netherton Circuit meeting Revd David Alford -WOTkers Richard Fr¢n¢h Lal Preachers and Worshi der Re William Jones Circ David Robinson, Roy Evans, Wendy Goodwin, Pamela Haden Circuit Meetin Tracy Rollason Circuit Janette Robinson Circ Roy Evans Circuit Safe uardin ina Wendy Goodwin uit Re resentatives to S Pam Haden David Mountford Page 8
Dudley and Netherton Circult Ann Gallimore Caroline Meldon John Perkins Peter Roberts Shirley TIlOn Cole Elizabeth Ralph David Moss JAnei Shcppard Sylvia Holyoake (Died 13 March 2025) Raymond Anstis Janice Bartley David Willetts Edward Bartley (Died 8 May 2025) Elizabeth Hopwood Elizabeth Morris Andrew Bagnall Basil Cox David Mountford Roy Ev$ns Brian Handy Page 9
Dudley and Netherton Clreufit Independent Examiner's Report to the trustKs of Dudley and Netherton Clreult I report to the trustees on my examination of the accounts of Dudley and N¢th¢rton Circuit for the year ended 31 August 2025. ResponsSbllities and b*sis of report As the charity trnstees of Dudley and Netherton Circuit you are responsible for the preparation of the accounts in accordance with the requirements of the Charili¢s A¢t 2011 ('the Act.). I report in respect of my ex8mination of the Dudley and N¢th¢rton Circuivs accounts carried out under section 145 of the 2011 Act and in carying oul my examination J have followed all the applicable Directions given by the Charity Commission under section 145{5Xb) of the Act. Independent examiner's stslement I have wmpleted my examination. I confimi that no material matters hav¢ com¢ to my attention in Connection with the examination giving me cause to believe that in any material respert: accounting records were not kept in respect of Dudley and Netherton Circuit as required by section 130 of the Act. or 2. the OUnts do not accord with those records. or 3. the 4c¢ounts do noi comply with the accounting requirements concernin8 the form and cont¢nl of aecounts set out in the Charities (Accounts and Reports) R¢gulations 2008 other than any r¢quirement that the accounts give a 'true and fair view, whi¢h is not a matt¢r considered as part of an independent examination. I h8v¢ no concerns and have come across no other matters in connection with th¢ examination to which attention should be drawn in this report in order to enable a proper understsnding of the accounts to be Teach¢d. N A WestW(MxI FCA Chartered Accountants Neil Westwood & Co. 101 Dixons Green Road Dudley Wesi Midlands DY2 7DJ 17 March 2026 Page 10
Dudley and Netherton Circuit Statement of Financial Activities for the Year Ended 31 August 2025 Unrestricted funds Restricted funds Totol 2025 Note In¢ome and Endowments from: Charitable activities Investment income Other incom¢ 81.822 17,580 ,506 81,822 22,067 3,212 4,487 .706 Total in¢om¢ 100,908 6.193 107,lQl Expenditure on: Charitable activities Other expenditu Total expendilu Net income Gros5 lrnnsfers between funds (99.653) (600) (4.701) (104.354) (600 (100.253) (4,701) (104,954 655 27,000 1.492 (27,000 2,147 Net movement in funds 27,655 (25,508) 2.147 Re¢1]1*¢10 of funds Total funds broughi forward Total fijnds Caled forward 834,781 862,436 99,490 73.982 934.271 15 936.418 All of the charity's activities derive from continuing operations during the above period. The notes on pages 13 to 22 forni an inle8ral part of these financial statements. Pagell
Dudley and NethertOD Circuit (Reglstrallon number: 1210622) Balanee Sheet a8 at 31 August 2025 202S Nole Flxed Tangible assets Investments io 615.000 131,395 746,395 Curremt assets Debtors Investmenls Cash at bank and in hand 12 13 3,857 73,293 127.975 205.125 Credlton: Amounts f*lllng due wlthln one year Ne¢ eurrent wets 14 15,102 190.023 936.418 Net Asgets Fund• of the eharlty: Restrlcted Income fundi R¢slricted funds 73.982 Unres¢rleted In¢om¢ futtds Unrestricted funds 862,436 936,418 Total ndS 15 The financial slalements on pages I I to 22 were approved by ihe truslees. and authorised for issue on 16 March 2026 and signed on their behalf by: Reverend R D Alford Trustee Mrs J Robinson Trustee The notes on geS 13 to 22 forni an int¢gral part of ihese financial statements. Page 12
Dudley and Netherton Clremlt ]Yotes to the FIDanelal Statements for the Year Ended 31 August 2025 J AteouDtiDg poli¢les Statement of eompllanee The financial 5tatemenls have been prepared in accordance with the second edition of the Charilies Statement of Recommended Practice issued in Oclober 2019. the Financial Reporting Standard applicable in the United Kingdom 8nd Republic of Ireland (FRS 102) and the Ch4ritie5 Act 2011. B48ts ofpreparation Dudley and Netherton Circuit meets th¢ definilion of a public benefil enlity under FRS 102. The accounts (financial ststements) have been prepared under the hisiorical cosl eonvenlion with items recognised at cosi or Iransaclion value unless otherwise stated in the relevant note(s) to these accounts. Dlsclogure exemptlons The entity satisfies the criterio of being 8 quplifyin8 ¢ntity as defined in FRS 102. As such. advantage has been taken of the following disclosure exemptions available under paragraph 1,12 of FRS 102: (a) No cash flow statement has been presented for the entity (b) Disclosur¢s in r¢spe¢¢ of financial instrumenis have nol been presented. Congolldatlon The Circuit has denominational r¢gulalory ov¢rsi8hi in r¢specl of the work of the Churches within the Circuit bul has no legal or operational control of those chUhe5 and th¢ir 8ovcrnin8 bodies except in extreme circumstances. For this reason, the finan¢ial stsi¢ments of Churches within the Circuit are not consolidated into these financial ststements. Golng concern The trnstees consider that thcr¢ arc no material uncertainties about the charity's ability to continue as 8 80ing concern. Judgements gnd key sources of estima¢lon uncertalnty The preparation of Ihe financial statements requires management to make judgements, estimaies and assumptions thal affeci Ihe amounts reported. these estimates and judgements are ¢ontinually reviewed and a r¢ based on ¢xp¢rience and other factors, includin8 expectstions of future ev¢nts Ihal are beli¢v¢d lo be reasonable under the circumstances. No significant estimates or jud8em¢nls have been made by mana8ement when preparin8 the financial statements. The policies followed are shown below. Pa8e 13
Dudley and Nelherton Cire•it Notes to the Finanelal SIAtemeDts for Ibe Year Ended 3J Augujl 2025 (¢ODtiDued) l A¢eoullttng pollelej (eoMdDued) Incomlllg reyoDrcu Income is included in th¢ Stai¢m¢nl of Financial Activities (SOFA) when the Circuit becomes entitl to the resource¥ and the trustees are reosonably ¢¢rtain that they will receive the resources: and the monetary value can be metsured with sulTici¢nt reliability. Exptnditurt All expenditure is recognised once there is a legal or constructive obli8tttion w that expenditu. il is proboble ttlement is required and the amount can be measured reliably. All ¢05ts are allocat¢d to the appli¢abl¢ expenditure headin8 that a88re8ale similar costs to thal caiegory. Where eosts ¢annoi be directly attribui¢d to particular hcadin8s they have been allocated on a basis consislenl with the use of resou¢4 with central staff costs allocaled on the basis of time spen¢ and depreciatiort ehar8¢S allocated on ih¢ p)rtion of ihe a5%t'$ usc. Other supp)rt costs are allocated based on ihe spread of staff costs. Charli47ble qcifvlrfes ChaTitsble expendilure comprises th0 )sts incurTed by the charity in the delivery of its activities and $ervi¢es for ils nefiCIan¢s. li includes both costs that can be alkKaied directly lo such activities and those coms of •n indir¢¢t naiur¢ necessary to support them. Gronl wvndliure Grants madc by the Circuit from its own funds are recognised in full al ihe Itme of a8reement 10 make 8 grant wiihoul perforniance conditions or as and when the Circuit accepts that th¢r¢ is a Ic8al or operniional obligation to make a payment if it is subject io perf0mttee Conditions. Wh¢n lh¢ granl is recurrent over more than one yr ihe balaJKe payable in future years is tted as & provision for future commitmenis in the Balance Shed 084insi the approprial¢ fund. Ihe provision bein8 released in future years as instalm¢nts are paid in a¢¢ordance with the 0ri8inally a8reed tern)s. Irr¢¢overnble VAT Since the Circuit is not VAT registere4 all input VAT is charged with ihe expenses to which it relate$. Tangible fixed Sets These are capilalised if they can be used for more ihan on¢ year, and individually cost at lea £IOOO. the freehold property is shown in the accounts al original COSL No depreciation is provided on the buildings because the trustees consid¢r the residual value of the properties in their present condition to be noi less thfftn their current value, and in the absence of any evidence of impairn)¢nt. any depreciation provision would no¢ b¢ ma¢¢ri81. Page 14
Dudlry and Nelherton Circuit Notes to the FinaDeial StAtements for the Year Ended 31 August 2025 (Continued) I AtCOUDting poli¢iu (¢ontinwd) Inv(mellt properti Investment property is carried at fair Wal, derived from the eurrent market prices for wmparable real estate deterniined annually by external valuers. The valuers use obserY8ble maTket priee4 adjusted if necessary for any difference in the natur4 location or condition of the spe¢ific 0$. Changes in fair value are reco8nised in profit or lo&s. Fixed a&t Invlments Fixed &sset inv¢stment& are included at market value at cosL Current assrt inves¢ments Current asset investments are included at the lower of eost #nd net realisablc vJluc / markcl value. Fllnd slrnctDre Unrestricted income funds are general fvnds that ar¢ availabk for use at the trustees discretion in furtherance of the objectives of ihe charity. Restricted income fimds are those donaied for use in a particujar area or f(* specifK purpose4 the use of which is restrickd to thai ar¢a or purpose. 2 Income from tharitable 2etiviti Uurestri¢ted funds GeDerAI Tothl 2025 Assessments on Churches 81,822 81.822 3 Investmellt ineome Unre¥tri¢ted funds Genernl Rtstrieted funds Total funds Other investment income Income from Tents 3,825 13,755 4,487 8.312 13.755 Totsl for 2025 4,487 22.067 Pa8¢ 15
Dudky 2nd Nelherton Circuit Notu to tbe Flnanclal Ststements for tbe Year Ended 31 August 2025 (eolltinu) 4 Expenditure on charltsble aetivilies UDrestrieled nds G¢ty¢rnl R¢strie¢¢d Total 2025 Salaries and associated costs District assessment and I Property costs Oth¢r out8oin8S 56,140 26,683 12,511 4,319 56,140 29.148 12.511 6.555 2,465 2.236 104.354 Dlstrld Al$1*1 #Dd l¢vy U•Mtricted Gtther41 Futhd 2025 Clrcwl¢ Modtl Trn$t Fund 2025 Totsl 2025 District Assessment District Levy 26,683 26.683 2.465 2.465 26,683 Property tosts Durin8 th¢ year. the Circuit was Managing TrnMe¢ for ¢wo properties. One former manse was bein8 let out on renewabl¢ shorthold leases Unrtstricted Circuit Model Genergl Fund Trust Fund 2025 2025 Total 2025 Insuran¢¢, Council lax and utilities Genernl mainlenance on manses and other Circuit pmperties Professional fees Other eosts 6.734 6,734 5.063 540 174 5,063 540 174 12,511 12.511 Page 16
Dudley and Netherton Clrcult Notes to the FinaDeial Statements for the Year Ended 31 August 2025 (eonllnued) 4 Expendlture oll eharltsbl¢ aellvlties (¢ontinued) Other regoureeg expellded Unrestrleted funds GenerAI Restrleted funds Tot*1 2025 Bank charges Resources A¢counlancy and payroll fee Apprenticeship levy Connextion funds Telephone Miscellaneous TMCP Charges loo 1,005 840 227 810 1,001 336 100 1,005 227 810 1,923 313 2,259 313 6,555 S Other expendlture Uttr¢•¢rl¢l¢d fundj Genergl Total rund• Nole Independeni examiner fees Examination of the financial slatements 600 600 Totsl for 2025 600 600 6 Trustee4 r¢muneratlon expenses Apart from the minister no member of the Cir¢uit meeting was in r¢c¢ipt of any payment for work undertaken on behalf of the Circuit, alihough certain tr8vellin8 And administration costs w¢r¢ reimbur1 in particular cases. Page 17
Dudley and Netherton Cireuit Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) 7 Staff costs ilnre5tricted Circuit Model General Fund Trust Fund 2025 2025 Total 2025 Stipends salaries and allowances National Insurance Pension costs Travel 45,110 4J14 6.204 512 45.110 4.314 6,204 512 56.140 56.140 The monthly average number of persons (including nIOr management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2025 Presbyters Lay workers No employee received emoluments of more than £60,000 duriftg the year Pensions Most ordained PreSber$ aff m¢mbeTS of the MethThJist Ministers, Pension Schem4 which 1$ defined benefit scheme. the Supreme Court held in 2014 ihat Methodist ministers are not employees of the Church. For simplicity, however when dealing with National Insurance Contributions and pension contribution& the lernis 'employer" and "employee" are used as they would be in an employing body. Any lay workers of th¢ Cir¢uil would be contractual employees and would have the option of joining a pension scheme which the Circuit would arrange. Page 18
Dudley and Netherton Circuit Notes to the Financial Statements for tbe Year Ended 31 August 2025 (eontlDued) 7 stsff costs (continued) C08ts of Presbyter8 alld Trsteel The minister and Ctrcuit Stewards Are considered #s Kry Man48¢m¢nt personnel. The memrS of the Circuit Meeting are the trustees of the Circuit. The stipends, employerfs NIC and employ¢rfs p¢nsion contribuiions and other expenses of ihe Minister ar¢ paid by the c1ul1. The manses are provtded by the Circuit and the Circuit maintains the properties. The value of the Council Tax and water charges are not disclosed here as HMRC does not recognise this as benefil-in-kind in the hands of the minister. 8 Independent ex*mln4tlon f 2025 Examinalion of the financial slaiements 600 9 Taxatlon The charity is a re8iStered charity and is therefor¢ exempt from iaxAlion. 10 T4nglbl¢ flx¢d assets Land and bulldln Tot•1 C08¢ Additions 615,000 615,000 At 31 Augusi 2025 D¢pre¢iation At 31 August 2025 Net book value 615,000 615,000 At 31 Au8USt 2025 615.000 615.000 Page 19
Dudley aDd NethertOD Circuit Notes to the Financial Statements for the Year Ended 31 August 2025 (continued) I l Flxed asset lllv¢stments Investment properties Inveslment properties Cos¢ or ValuatloD Additions 131.395 Provision At 31 Au8USt 2025 Net book value At 31 August 2025 The has been no valuation of investment property by an independent valuer. 131,395 12 Debtors 2025 Other debtors 3,857 13 Current *ssÈt investments 2025 Model T Fund 73,293 The funds ihat support the Circuit Model Trust Fund are held by TMCP in the Trustees Interest Fund on which interest is credited each month. TMCP is the legal owner and ¢u5todian trustee of all Methodist model trust property including legacies, endowments and accumulated funds. 14 Creditors: Amounts fAlliDg due wiihin one year 2025 Accruals 15.102 Pa8e 20
Dudley aDd Netherton Circuit Notes to the Finaneial Statement5 for the Year Ended 31 August 2025 (continv¢d) 15 Funds Bal4ll¢e at Balanee at 31 August 2025 September 2024 Incomlng Resource8 re8ollrees expettded Trnnsfers Unreslrlcted fund8 General General 494.781 100,908 (100.253) 27.000 522,436 Restri¢ted fuDds Circuit Model Trus¢ Fund C1Ul1 Young People's Account Holiday at Home Sale¢m 98,583 4.487 (2.778) {27.000) 73,292 (85) 491 501 1,706 (1,923) (302) 491 501 Total restrlded funds 99.490 6.193 (4,701) (27,000 73,982 Total funds 594,271 107,101 104.954 596.418 16 ADalysis of llet assets behveen funds urestrIcted runds General Total funds at 31 August 2025 Restrleted runds Tangible fixed assets Fixed asset investments CuTrent assets Current liabililies 61 S,000 131,395 131.832 {15,102) 863,125 615.000 131.395 205.125 15.102 73293 Total net assets 73,293 936.418 Pa8¢21
Dudky and Nelherton Circuit Notes to the Finan¢ig1 Statements for the Year Ended 31 August 2025 (eontiDued) 17 Related party traDsa¢tioDs Related Parties include The Methodist connext10 the Wolverhampton & Shrewsbtjry Disiri¢( Churches withln the Circuit (listed belowA CFB and TMCP. Central Methodist Church Cole Street Methodist Church Dixons Green Methodist Church Knowle Methodist Church St James Methodist Church Woodside Methodist Church Page 22