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':
- the requirements of Section 7 Statement of Cash Flows.
## **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