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← Superintendent Minister's Trust

2024-12-31-accounts

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

REGISTERED CHARITY NUMBER: 518173

THE SUPERINTENDENT MINISTER'S TRUST

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Xeinadin Dalton House 9 Dalton Square LANCASTER LA1 1WD

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 15
Detailed Statement of Financial Activities 16 to 17

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees Rev J M Townley
Mr N Wright
Mr R Tomkins (resigned 16/5/2024)
Mr D Broughton (resigned 16/5/2024)
Rev P Godfrey
Rev D Cronin
Mr J Carter (appointed 17/5/2024)
Mr S Megrath (appointed 17/5/2024)
Principal address Acorn House,
Kingswood Estate
Britannia Road
BRISTOL
BS15 8DB
Registered charity number 518173
Independent examiner Xeinadin
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD
Bankers HSBC Bank Plc
49a Fishergate
Preston
PR1 8BH

Page 1

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives and activities

Objectives and aims

The charity is the United Kingdom denominational headquarters of The Free Methodist Church in the United Kingdom (FMCUK) which is part of the Free Methodist Church of North America, and the object of the charity is to further the religious and charitable work of FMCUK in accordance with the doctrines, policies and procedures of the church as set out in the latest Book of Discipline (2019). There are thirty three churches in the UK & Ireland Annual Conference, including one affiliated church, four in Northern Ireland, and one in Ireland.

Public benefit

We have served both the local and worldwide community in both direct provision of teaching for the personal and spiritual development and wellbeing of any individuals who seek it, and in facilitating our member churches to similarly provide that community benefit. We have provided significant funds for overseas development, the relief of poverty, and in generally improving the health and wellbeing of those seeking our help. Our member churches are also encouraged to send funds to suitable overseas projects. Our office operates as a hub, resourcing churches to assist them in meeting their charitable objectives, and advise them on matters of church governance.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Page 2

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Achievement and performance Charitable activities

The Trustees are assisted in their management of the Charity by a Board of Administration who are appointed by the members at the Annual Meeting, made up of clergy and lay members, who generally meet quarterly. The following individuals have been members of the Board of Administration through the period covered by these accounts, and none receive remuneration in respect of this work except for John Townley who is employed by the Charity as National Leader, Lucy Awde who is employed as the Conference Administrator and Pete Godfrey, who is seconded from his home church as Assistant to the National Leader and the conference contributes to his home church to reflect his time spent on conference matters:

Rev John Townley (Chair) Mr John Carter Mr Robert Tomkins (Resigned 17/05/2024) Rev Pete Godfrey Mr Dan Broughton (Resigned 17/05/2024) Rev Dan Cronin Mrs S Whybrew (Appointed 17/05/2024) Mrs Lucy Awde (Secretary) Rev Ian Clarkson Mrs Joanne Parkinson (Resigned 17/05/2024) Mr Simon Burgess (Appointed 17/05/2024) Mr Stephen Megrath (Appointed 17/05/2024)

The Board of Trustees meet twice per year. In addition, John Townley chairs the Ministerial, Education and Guidance Board overseeing the recruitment and training of new pastors, and the Trustees and Board of Administration.

The charity has supported ministers and churches through the central provision of services, including negotiation of Death in Service, and Private Health Insurance, guidance and support to all member churches in the day to day operation and extension of their outreach and service ministries. Grants are made available to church plants to assist them in their growth in the early stages of development. We have facilitated members of the churches in FMCUK in their charitable activities through training, mentoring and guidance to their staff and many volunteers through one to one support and national conferences.

The charity facilitates both overseas and UK mission work, and the alleviation of national and international poverty by directly raising funds for onward transmission to other charities and missionaries. Amongst others, we have supported projects for international childcare, disaster relief, and the formation of new churches in the UK.

In addition, the structural review performed in prior years continues to be implemented, improving the strategic direction of the organisation and its efficient functioning, enabling the charity to meet its charitable objectives.

Financial review

Principal funding sources

Income is mostly derived from free will gifts made to the church by church members and other interested individuals, together with contributions by member churches, some of which is designated to specific causes.

The trustees delegate day to day financial controls to the Board of Administration who operate within an agreed budget.

The board, by virtue of the regular board meetings, constantly scrutinise the finances, make judgements and estimates relating to available funds and appropriate allocation of these funds. The charity had an overall surplus of £18,578. The trustees, through the Treasurer, keep appropriate records which fully satisfy the legal requirements placed on trustees.

The attached accounts show the current state of the finances, which the trustees consider to be sound. Overall income for the charity was £313,058 with expenditure of £294,516. The expenditure not budgeted for has been met from general reserves. The trustees are satisfied that the assets of the charity are available and adequate to fulfil the obligations of the charity.

Page 3

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

Reserves policy

In accordance with the guidelines issued by the Charity Commissioners, the level of reserves is considered and reviewed at regular intervals. The trustees have adopted a policy to ensure sufficient reserves are maintained and that there are adequate funds to ensure that the charity is able to meet all current and known future liabilities within Charity Commission guidelines.

Free reserves held at the year end are £387,107 (2023 - £375,839).

Funds in deficit

No funds are in deficit.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

This charity's governing instrument is a Charity Commission Scheme dated 9 January 1984, and amended by the Trustees on 15 October 2009 with the consent of the Charity Commissioners.

The governing instrument does not impose any specific restrictions on the way the charity can operate and bestows full powers on the trustees in relation to investments insofar as they do not contravene the Trustee Act 2000 with regards to investment powers.

Recruitment and appointment of new trustees

The trustees must in number be six or more. They are appointed by the members of the charity at the annual meeting by a majority resolution of the members present. The trustees should comprise half clergy and half lay members. New trustees will be judged whether or not they are suitable candidates by the members. An existing trustee will immediately cease to act in that capacity if he/she is deemed bankrupt or makes an arrangement with creditors, ceases to qualify as a trustee or indicates in writing that he/she wishes to resign.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The trustees have considered the particular risks of fraud, the need to ensure compliance with legislation, being sued by an outside body, and the integrity of the computer system and taken appropriate steps to control these risks and mitigate impact. The charity is aware of Safeguarding issues and also advises member churches.

Financial and Budgetary control is pursued by the preparation and monitoring of the budget and studying the quarterly financial statements prepared by the Treasurer. The charity's cash deposits are now held between NatWest, HSBC, Charities Aid Foundation, Flagstone Group Ltd and Cambridge & Counties Bank.

The charity makes wide use of computers for its activities, with anti-virus protection and regular cloud back-ups to maintain data security. The accounting information is backed up to three different computers, and the General Office computer systems are backed up to the cloud and are password protected.

The Charity has protected the Trustees by way of Indemnity Insurance, and takes regular guidance from its legal advisers. There have been no 'serious incidents' requiring report to the Charity Commission during the year. 4/11/2025

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

...................................................................... C85418A04151457... Rev J M Townley - Trustee

Page 4

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SUPERINTENDENT MINISTER'S TRUST

Independent examiner's report to the trustees of The Superintendent Minister's Trust

I report to the charity trustees on my examination of the accounts of The Superintendent Minister's Trust (the Trust) for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Tim Preece F.C.C.A

Xeinadin Dalton House 9 Dalton Square LANCASTER LA1 1WD

Date: .............................................

Page 5

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted
funds
Notes
£
Income and endowments from
Donations and legacies
2
163,122
Investment income
3
28,054
Total
191,176
Expenditure on
Raising funds
4
3,916
Charitable activities
5
Church activities
176,027
Total
179,943
Net gains on investments
36
NET INCOME/(EXPENDITURE)
11,269
Reconciliation of funds
Total funds brought forward
650,839
Total funds carried forward
662,108		 Restricted
funds
£
121,882
-
121,882
-
114,573
114,573
-
7,309
133,245
140,554		 2024
Total
funds
£
285,004
28,054
313,058
3,916
290,600
294,516
36
18,578
784,084
802,662		 2023
Total
funds
£
251,225
22,101
273,326
8,274
434,273
442,547
158
(169,063)
953,147
784,084

Continuing operations

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 6

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

BALANCE SHEET 31 DECEMBER 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
Fixed assets
Investment property 11 275,000 - 275,000 275,000
Current assets
Debtors 12 33,789 2,247 36,036 32,106
Cash at bank 374,561 163,915 538,476 641,366
408,350 166,162 574,512 673,472
Creditors
Amounts falling due within one year 13 (21,243) (25,607) (46,850) (164,388)
Net current assets 387,107 140,555 527,662 509,084
Total assets less current liabilities 662,107 140,555 802,662 784,084
NET ASSETS 662,107 140,555 802,662 784,084
Funds 14
Unrestricted funds 662,107 650,839
Restricted funds 140,555 133,245
Total funds 802,662 784,084

The financial statements were approved by the Board of Trustees and authorised for issue on 4/11/2025 ............................................. and were signed on its behalf by:

............................................. C85418A04151457... Rev J M Townley - Trustee

The notes form part of these financial statements

Page 7

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 8

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

2.
Donations and legacies
Contributions from churches
Donations
CMC contibutions
Workplace pension
Insurance recharges
3.
Investment income
Rents received
Deposit account interest
4.
Raising funds
Investment management costs
Management fees
Property repairs		 2024
£
125,595
30,248
5,011
98,223
25,927
285,004
2024
£
11,803
16,251
28,054
2024
£
1,652
2,264
3,916		 2023
£
118,718
21,780
2,148
80,112
28,467		 2023
£
118,718
21,780
2,148
80,112
28,467		 2023
£
118,718
21,780
2,148
80,112
28,467
251,225
2023
£
9,300
12,801
22,101
2023
£
1,185
7,089
8,274
8,274
5. Charitable activities costs
Grant
funding of
activities Support
Direct (see note costs (see
Costs 6) note 7) Totals
£ £ £ £
Church activities 265,573 21,648 3,379 290,600

Page 9

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

6. Grants payable

Church activities
The total grants paid to institutions during the year was as follows:
Board of World Missions - Childcare
Board of World Missions - Europe
Board of World Missions - South Africa
Evan FD church planting		 2024
£
21,648
2024
£
3,718
6,956
2,881
-
13,555		 2023
£
201,673		 2023
£
201,673
2023
£
5,006
5,342
2,325
3,000
15,673

7. Support costs

Church activities

Governance costs £ 3,379

Support costs, included in the above, are as follows:

Governance costs

Governance costs
2024 2023
Church Total
activities activities
£ £
Independent examiners fee 3,379 3,265

8. Trustees' remuneration and benefits

Rev J M Townley received remuneration of £50,600 and the charity contributed £4,888 to his pension scheme as an employer pension contribution. (2023: £48,192 remuneration and £3,876 pension) This remuneration was in respect of his employment by the charity. Approval was given in 2021 for this appointment in accordance with the amendments made to the Trust Deed in 2009.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Page 10

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

9.
Staff costs
Wages and salaries
Social security costs
The average monthly number of employees during the year was as follows:
Charitable activities
No employees received emoluments in excess of £60,000.
10.
Comparatives for the statement of financial activities
Unrestricted
funds
£
Income and endowments from
Donations and legacies
159,837
Investment income
22,101
Total
181,938
Expenditure on
Raising funds
8,274
Charitable activities
Church activities
328,021
Total
336,295
Net gains on investments
158
NET INCOME/(EXPENDITURE)
(154,199)
Transfers between funds
(13,129)
Net movement in funds
(167,328)
Reconciliation of funds
Total funds brought forward
818,167
Total funds carried forward
650,839		 2024
£
69,600
342
69,942
2024
3
Restricted
funds
£
91,388
-
91,388
-
106,252
106,252
-
(14,864)
13,129
(1,735)
134,980
133,245		 2023
£
64,731
537
65,268
2023
3
Total
funds
£
251,225
22,101
273,326
8,274
434,273
442,547
158
(169,063)
-
(169,063)
953,147
784,084

Page 11

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

11. Investment property

Fair value
At 1 January 2024
and 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Fair value at 31 December 2024 is represented by:
Valuation in 2016
Valuation in 2022
Cost
12.
Debtors: amounts falling due within one year
Trade debtors
Other debtors
Prepayments
13.
Creditors: amounts falling due within one year
Other creditors		 2024
£
8,007
6,628
21,401
36,036
2024
£
46,850		 £
275,000		 £
275,000
275,000
275,000
£
11,000
52,000
212,000
275,000
2023
£
7,231
4,630
20,245
32,106
2023
£
164,388		 2023
£
7,231
4,630
20,245
32,106

Page 12

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

14. Movement in funds

Unrestricted funds
General fund
Investment property
Discretionary fund
Restricted funds
Board of World Missions - Childcare
Board of World Missions - Europe
Board of World Missions - general fund
Board of World Missions - South Africa
Board of World Missions - Visa
Evan FD church planting
Church building loan fund
Conference outreach ministries fund
V Trinder legacy for use in GB
Church Planting in NI
Bishops crisis response
African European Church Network
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
Board of World Missions - Childcare
Board of World Missions - Europe
Board of World Missions - general fund
Board of World Missions - South Africa
Evan FD church planting
Pension scheme
African European Church Network
TOTAL FUNDS		 follows:
Incoming
resources
£
191,176
3,838
8,465
2,886
47
7,923
98,223
500
121,882
313,058		 At 1/1/24
£
301,876
275,000
73,963
650,839
68
219
13,557
39
557
13,224
17,958
15,647
43,871
27,931
174
-
133,245
784,084
Resources
expended
£
(179,944)
(3,718)
(6,990)
(2,966)
-
(2,675)
(98,223)
-
(114,572)
(294,516)		 Net
movement
At
in funds
31/12/24
£
£
11,268
313,144
-
275,000
-
73,963
11,268
662,107
120
188
1,475
1,694
(80)
13,477
47
86
-
557
5,248
18,472
-
17,958
-
15,647
-
43,871
-
27,931
-
174
500
500
7,310
140,555
18,578
802,662
Gains and
Movement
losses
in funds
£
£
36
11,268
-
120
-
1,475
-
(80)
-
47
-
5,248
-
-
-
500
-
7,310
36
18,578

Page 13

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

14. Movement in funds - continued

Comparatives for movement in funds

Net
movement
At 1/1/23
in funds
£
£
Unrestricted funds
General fund
469,204
(154,199)
Investment property
275,000
-
Discretionary fund
73,963
-
818,167
(154,199)
Restricted funds
Board of World Missions - Childcare
72
(2,787)
Board of World Missions - Europe
2,735
(2,516)
Board of World Missions - general fund
13,625
(68)
Board of World Missions - South Africa
9
30
Board of World Missions - Visa
557
-
Evan FD church planting
12,575
649
Church building loan fund
17,958
-
Conference outreach ministries fund
15,647
-
Pension scheme
-
(10,346)
V Trinder legacy for use in GB
43,871
-
Church Planting in NI
27,931
-
Bishops crisis response
-
174
134,980
(14,864)
TOTAL FUNDS
953,147
(169,063)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
181,938
(336,295)
Restricted funds
Board of World Missions - Childcare
2,219
(5,006)
Board of World Missions - Europe
2,878
(5,394)
Board of World Missions - general fund
-
(68)
Board of World Missions - South Africa
2,355
(2,325)
Evan FD church planting
3,649
(3,000)
Pension scheme
80,113
(90,459)
Bishops crisis response
174
-
91,388
(106,252)
TOTAL FUNDS
273,326
(442,547)		 Transfers
between
At
funds
31/12/23
£
£
(13,129)
301,876
-
275,000
-
73,963
(13,129)
650,839
2,783
68
-
219
-
13,557
-
39
-
557
-
13,224
-
17,958
-
15,647
10,346
-
-
43,871
-
27,931
-
174
13,129
133,245
-
784,084
Gains and
Movement
losses
in funds
£
£
158
(154,199)
-
(2,787)
-
(2,516)
-
(68)
-
30
-
649
-
(10,346)
-
174
-
(14,864)
158
(169,063)

Page 14

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

15. Related party disclosures

Donations of £8,094 were made to Kingdom Builders UK (Charity number 1192754) of which Rev J M Townley is a Trustee.(p/yr £186,000)

Page 15

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Income and endowments
Donations and legacies
Contributions from churches
Donations
CMC contibutions
Workplace pension
Insurance recharges
Investment income
Rents received
Deposit account interest
Total incoming resources
Expenditure
Investment management costs
Management fees
Property repairs
Charitable activities
Wages
Social security
Conference office and manse costs
Annual conference expenses
Cost of goods and services provided
Contribution to assistant NL
Workplace pension
Travel & subsistence
Insurance
Grants to institutions
Support costs
Governance costs
Independent examiners fee
Total resources expended
Net income/(expenditure) before gains and
losses		 2024
£
125,595
30,248
5,011
98,223
25,927
285,004
11,803
16,251
28,054
313,058
1,652
2,264
3,916
69,600
342
17,348
6,545
14,736
8,611
104,311
13,694
30,386
21,648
287,221
3,379
294,516
18,542		 2023
£
118,718
21,780
2,148
80,112
28,467
251,225
9,300
12,801
22,101
273,326
1,185
7,089
8,274
64,731
537
13,280
5,825
6,069
8,078
85,140
16,271
29,404
201,673
431,008
3,265
442,547
(169,221)

This page does not form part of the statutory financial statements

Page 16

Docusign Envelope ID: E5D108CB-97CE-4C08-B50E-C36C71B5A3D7

THE SUPERINTENDENT MINISTER'S TRUST

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Realised recognised gains and losses
Realised gains/losses on foreign exchange
Net income/(expenditure)		 2024
£
36
18,578		 2023
£
158
(169,063)

This page does not form part of the statutory financial statements

Page 17