2023-03-31-accounts

Registered number: 04122782 Charity number: 1085602 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ishop Fleming

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI CONTENTS Page Reference and Administrative Detsil$ of the Charity, its Trustees and Advisers Trustees. Roport Trustees. Responsibilities Statement 14 Independent Auditors. Report on the Financial Ststements 15-18 Consolldated Statement of Flnanclal Actlvltles 19 Statement of Financial Position 20-21 Charity Statement of Financial Position 22-23 Consolidated Statement of Cash Flows 24 Notes to the Financial Statements 25-49

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Trustees S Harrison, Chair S J Durranl B Hamier R M Jacobs AGKing W Moore D J Reynolds Company registered number 04122782 Charity registered number 1085602 Registered office la Forum Buildings Sl James Parade Bath BA1 1UG Independent auditors Bishop Fleming LLP Chartered Accounlanls 10 Temple Back Bristol BS1 6FL Bankers The Royal Bank of Scotland East street Lei￿ster LE16NB Solicitors Stone King Sewell 12 Queens Square Bath BA12HJ Page 1

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present theiT annual report together with the audited financial statements of Bath Christian Trust for the year 1 April 2022 to 31 March 2023. The Annual Report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current stalulory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. Since the group and the Trust qualify as small under section 383 of the Companies Act 2006, the Group strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report} Regulations 2013 has been omitted. OBJECTIVES AND ACTIVITIES Objects In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating lo public benefit and in particular lo its supplementsry public benefit guidance on charities for the advancement ol religion. The Objects of the Trust are.. To advance the Christian faith and the worship of God To relieve persons in need, hardship or distress, or who are aged or sick To promote or provide edueation on the basis of Christlan principles Aims The aims of the Trust are to.. Seek the presence of God by Holy Spirit led gatherings, prophetic ministry, and prayer Bring the gospel of Jesus Christ to the city, the region, and overseas Provide pastoral care for church members Serve the people of Bath via social action projects Train children and youths into the ways of God Provide assistance lo those in need, whether in the church, or the city, or overseas. Page 2

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Specific objectives which were set for 2022123 Re-visit a series of teaching on various aspects of prayer as an essential and integral part of the life of the individual believer and the corporate life of the church Continue to develop the leadership team to broaden the base of the eldership Continue to extend an authority structure amongst the leadership team based on the biblical principles of elders and deacons to help own and integrate the growing activities of the church Build a church community that is focused on being active and confident in faith, carrying a sense of well motivated engagement and increased mutual responsibility across a mulli generational and geographically dispersed congregation. This will be achieved by.. strengthening and extending departmentsl responsibilities that focus and channel activity and ministry., strengthening and increasing the coverage of life groups across the church keeping people connected and engaged in the church community., prioritising the development of the children and families ministry consolidating the work with youth, students and young adults, older people building on the Kickstart and Alpha initiatives that will engage with those attracted lo the church and ils influence in the city and surrounding region., ensuring that a pastoral team is in place, equipped and resourced to maintain a safe and supportive environment for a growing community Continue to maintain the online presence for the Church in both programmed and live streamed output that continues lo extend the Influen￿ of the Church and its ministries. Continue lo foster and develop open, positive relationships within the wider Christian and church community in Bath Oversea the growth of letting event hires and negotiation of favourable commercial terms while maximising the operation of our secondary sales through the development of wet sales provision, continuing to grow the unified commercial offer so as to deliveT on the operation of The Forum Ltd as an income generating trading arm of the Trust. Grow the community and family-friendly programming, alongside our commercial program, so as to offer and support the health and well-being of our surrounding community by access to the arts. Sustain the Bath Box Office's position within the city's cultural community. Build on the 2021122 year partnership work to grow strategic relationships which will provide opportunities to attract larger scale funding bids for both operational and building development for the future of all aspects of the charity's objectives. Grant making policies The allocation of grants is proposed by the church leader and approved by the Trustees. Gifts are split between local, national, and international ministries. The Trust supports only those ministries which have an established relationship with the church. and which will use the funds in accordance with the Trust's Objects. Where possible grants are made on a regular basis throughout the year, so that recipients can plan effectively. Page 3

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Main activities undertaken to further the charity's purposes for the public benefit The Trust can demonstrate that its activities deliver Public Benefit in the following ways.. Activites undertaken to provide Public Benefit Class of Public Benefit Trust Object: Advancernent of Christian faith and worship of God Sunday meetings for worship and teaching Open meetings to celebrate Christian festivals leg Christmas & Easter Conferences and schools covering a wide range of topics Youth work, including regular meeting of various types Small fellowship groups for sharing and learning Advancement of religion Advancement of religion Advancement of religion Advancement of religion Advancement of religion Trust Object: Relief of persons in need, hardship or distress, or who are aged or sick Worship meetings held in a local residential home Advancement of religion Praying on the streets for people in need or who are ill Advancement of religion Visting and caring for the sick and elderly Prevention and relief of poverty Financial and spirilual support for missionary work in the UK and Prevention and relief of poverty overseas Support for the Genesis Trust and others helping the poor and homeless Prevention and relief of poverty Trust Object: Promotion of education on the basis of Christian principles Children & youth regularly taught lo live according lo Biblical pnnciples Advancement of education ACHIEVEMENTS AND PERFORMANCE al Key financial performance indicators in 2022123 Tithes and offerings.. income overall was a 13 % increase compared to the previous year figure, arising from a few significant donations Within the trading subsidiaries, the year built on the previous year recovery from the pandemic with an increase in tumover of 67 /0 on trading activities Cash b81ances.' close attention lo budget projections and cash flow forecasts continue on a weekly basis and cash balances remain closety aligned with Trust policies. bl Review of activities in 2022123 Re-visit 8 series of te8ching on various aspects of prayer ag an essential arpd integr81 part of the lrfe of thg individual beli8ver and the corporate lif8 of the church A range of regular prayer meetings have been scheduled as a result of this focus on the importance of regular and earnest prayer which has lo undergird the life of the church and ils activities. It is more difficult to establish how this series has impacted the prayer life of the individual believer, but this will continue to be a consistent theme into 2023124. Continue to develop the leadership team to broaden the base of the elders17iP The importance of having the right people in place cannot be underestimated and so due care and consideration is being given to ensure that happens. An oversight team has been established during the year. Page 4

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Continue to extend an authority structure amongst the le8dership team based on the biblical principles of elders and de8cons to help own and integrate the gmwing activities of the church The leaders and oversight continue to explore this, actively pursuing the priority of additional roles. Build a church community th81 is focused on being 8Ctive 8nd confident in faith, canying a sense of well motivated engagement and increased mutu81 responsibility aGross 8 mulli generational and g8ographically dispersed congregation. This will b8 achieved by.. strengthening and extending rJep8rtment81 responsibilities th&t focus &nd channel activity and ministry,. strengthening and increasing th8 coverage of lrfe groups across the church keeping peop18 connected and engaged in the church community," prioritising the developm8nl of the children and families ministry consolidating the work with youth, students and young adults, older people building on the Kickstart initiative that will engage with those attracted lo the church and its influence in the city 8nd surrounding region," ensuring that 8 pastoral Èean7 is in pla￿. equipped and resourced to maintain a safe and supportivg environment for a growing community 'Stsy and Play, la group for parents and carers and their newborn babies, toddlers and pre-school children) has been established during the year and has been well received by those it seeks lo serve. The youth team working with other leaders as part of the A2 city-wide youth initiative has continued to grow and increase in momentum during the year. The mission of the group is to encourage, facilitate and cover kingdom centred work for the sake of the youth in our city and surrounding areas. The ministry to young adults and students has grown and developed under the encouragement of a dedicated team gathering to inspire and re-calibrate 'normal' Christianity in influence the culture that we live in. New members continued to join the church from the 'Kickstart' courses that are run during the year for anybody who is on a journey lo discover God or considering joining the Life Church Bath family. 'Encore' continued a pattern for a mid-week meetings for those available during the week, while Life Groups continued to be a significant part of church life, working alongside more specific pastoral care for those who are elderly or infirm. A Church Camp took place during the year which piovided an excellent opportunity for growth of the church's sense of community and belonging. The church also ran Christmas and Easter events which are open to all. The Church Leaders continue to work alongside the Bath Christian Action Network IBalhCANI, Genegis Ttust and Mercy in Action in local initiatives to help social need and improve local communities. Continu8 lo maintain the online prgsenc8 for the Church in both programmed and live streamed output that continues to extend the influence of the Church and its ministries. This facility has continued to provide on-line opportunities for connection with the life of the church beyond in-person meetings, with continued positive feedback, and appreciation of the team delivering this service. Page 5

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Continue to foster 8nd develop open, positive relationships within the wider Christian and church community in B8th The elders continue to connect with other church leaders in the city to support the wider church community, lo pray for the city and wider Christian influence. The pursuit of church unity continues with regular meetings of pastors in the city. Other initiatives for working together for the common good include working with 'Home for Good, (with the vision to find a home foT every child in the UK who needs one). Oversea the growth of letting event hires and negotiation of favourable commercial terms while maximising the opsration of our secondary sales through the d8velopmenl of w8t sales provision, continuing to grow the unrfied commerci81 offer $0 8$ to deliver on the operation of The Fomm Ltd as an income generating trading ami ofthe Trust. The trading subsidiaries have achieved more favourable terms with most major clients, and sel the organisation up for sustained increase in hires. Associated secondary sales via our wet sales provision is projected for growth benefiting from bar enhancements and we have unified our approach ensuring benefit and support across all areas of the business lo promote profitability. Build on th8 2027/22 y8ar partnership to grow strategic relationships which will provide opportunities to attract larger scale funding bids for both operalion818nd building development for the future of all aspects of the charity's objectives. Bath Forum Ltd is now recognised as a Cultural Partner of Bath Spa University. Work continues with Bath Philamonia, Bath Festivaks and others to undeistand the changing shape of funding and work with these key partners on funding options. Grow the community and family-friendly pmgr8mming, 8longside our commerci81 program, so as to offer and support the health and well-being ofour surrounding community by aGcess to the arts. Community & Family Friendly events were running at around 500/0 of program. The impact that this is having on our surrounding community is being assessed lo both properly understand their benefit and to support future funding from the arts & culture community. Broadening our programming offer to envelop the community culture of the wider organisation saw repeat of the internal partnership of Life Church Bath and Bath Forum Ltd with the delivery of two showings of The Polar Express family film event. Sustain the Bath Box Office's position within the city's cultural community. Bath Box Office continues to be firmly rooted in the cty's cultural Scene and looks set to be the lynch pin around which future benefactors may rally. General activities Regular meetings for church members, with a strong emphasis on Spirrt-led worship and Bible-based teaching. Sunday services are available live on the internet Small groups, where people meet informally for friendship, study and maybe food and support Training schools and conferences for church members and visitors Youth & children's meetings and activities Student and young adult ministry Inner healing ministry operating to the wider Christian community Support for the poor and needy in the city working with other agencies Support for the elderly Page 6

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 cl Factors relevant to achieve objectives in 2022123 and ongoing The age distribution and profile of the church membership and congregation, notably maintaining a balance between.. a vibrant student and young adult membership contrasting with an older mature and aging membership a mix of young and economically active families a prominent central location that engages with members of the homeless and socially deprived city centre communities The economic pressure on families and young adults to locale in areas of cheaper housing outside the city limits, plus the wider area impact of the church ministry which means that over 40 % of church members live outside the city limits The impact of social media and internel communications that challenges the nature, identity and fundraising models of church and its corporate expression The effects of the global pandemic on all the aspects mentioned above FINANCIAL REVIEW al Going Concern Income from Donations remains robust and similar to the previous year figures. Despite the reduction in opportunity for trading activities due to restrictions on operating during Covid19, the return to live events has enabled the organisation to consolidate ils position and continue with ils mission. Close attention continues to be given to the analysis of budget and cash flow forecasts lover an extended period greater than twelve months) so as lo be able to plan and respond to the needs of the organization. After making appropriate assessments, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going con￿rn basis can be found in the accounting policies. Page 7

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 bl Principal risks and uncertainties The Trustees have ensured that the major risks to which the operations and finances of the company are exposed have been assessed, and are satisfied that appropriate mitigation systems are in place. They are confident that, in particular, the internal financial controls conform lo guidelines issued by the Charity Commission. The organisation has reviewed systems and processes during the coronavitus pandemic and continue to monitor associated risks Risk Mitigation Prvmpt and accurate financial reporting and communication. Respond lo Government guidelines on pandemic, adapt Church meeting p18ns, maintain go(Id comms to sustain regular incon7e and reduce costs and staffing where possible Staffing stwGlure continues lo be monitored, taking a vie on the pressure points in staffing in all areas of the organisation A significant reduction in the level of financial giving by church attendees. Stress on staff and key individuals., claims for damages., impact on staff morale and reputation Failure of significant systems or equipment and failure lo upgrade Dilapidations schedule regularly reviewed and ongoing action plan monitored,. capital investment program drafted Commercial failure of lettings strategy Venue Manager continues to liaise with pron70ters 2nd key hirers to manage events in the light of government guidelines, monitoring adverse financial conSeqUen￿S,. and trends in bookings so as to adjust staffing levels and costs as 8ppropriaÈe. Take advi￿ from poli￿ and local agencies. Develop strategies prO￿dureS for crisis management. Train Front of House staff on lettings and church welcome team leaders on handling evacuations Maintain good communications between church leaders and members. Leadership lo remain flexible to and pr8yerfully sensilive in d1￿CtIon and structures ft)r meeting, and to monitor reactions and s8nsitiviti8s through pastoral connection and encouragement, and use of online presen and social media Public Liability insurance. Health & Safely, and Childryouth Guidelines Terrorism allack A significant reduction in the number of church members. Injury lo personnel sustained through church andlor commercial activities. Harm or abuse to individual childlchildren andlor vulnerable adu lincreasing number of children and youth) Key employees or volunteers leave Safegu8rding pmcedures to be updated 8nd publicised and staff training to review issues, particularly relating to the risks to children relating to emotional 8nd physical well being Good HR praCtI￿S including appr8isals, regul8r communiG8tion, personnel development, SU￿sSion planning, identification of single points of failure and res ective contin enc lans. Page 8

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 l Reserves policy The Reserves Policy of the Trustees is established so as to maintain sufFicient level of 'free reserves" lunreslricted general funds not commilled or invested in tangible fixed assets and stock) and thereby to enable normal operating activities lo continue should a shortfall in income occur and also to take into account potential risks and contingencies that may arise from time to time. The agreed level of 'free reserves" required to be held by the charity is equal to £150,000, of which £50,000 may be used for monthly cash flow fluctuations, with £100,000 being sel aside for emergencies. The total reserves at 31 March 2023 were £2,935,933 12022 £2,777,959) of which £2,628,528 12022 £2,644,766) relate to the General Fund, £103,86512022 £103,865) related lo the subsidiary, £13,415 {2022 £16,915) related to Designated Funds and £28,77512022 £29,328) related to Restricted Funds {though it is expected that these funds wll be drawn down during the next financial yearl. The "free reserves. at 31 March 2023 were £499,156 12022 £380,754} which represents a surplus of £349,156 12022 £230,754) compared to the Reserves Policy. dl Principal funding The main source of income was from lilhes and offerings from church members and visitors, which, with the tax recoverable on these gifts, lotalled £868,62512022 - £770,173). This income enabled the Trust to operate according to ils Objects. The return to live events from early autumn has also provided significant revenue from trading activities lotalling £1,556,97312022 - £947,105) Other income of £7,191 12022 £6,177) arose mainly from charitable activities £6,020 12022 £6,143), investment income £72912022 - £261, and other income £44212022- £81. The nel movement of funds during the year was an increase of £224,467 compared with an increase in the previous year of £44,746. el Investment policy The general approach of the charity is lo adopt a risk-free stance towards investment activities. Cash reserves are held in interest bearing bank deposit accounts. STRUCTURE. GOVERNANCE AND MANAGEMENT al Constitution Bath Christian Trust is registered as a charitable company limited by guarantee and was sel up by a memorandum ofAssociation. The company has Members, and the Members elect additional Members andlor Trustees at the Annual General Meeting. The work of the TTUSt is managed by personnel who form the leadership team and staff of Life Church Bath (formerly Bath City Church). The Trustees determine policies within which the church works lo achieve the Trust's Objects in an ethical and prudent manner, having due regard to all externally imposed compliance requirements, and ensuring only necessary levels of risk to the Trust's physical, financial and human assets (being most members of the church, who undertake activities to achieve the Trust's Objeclsl. Each year the policies are reviewed in order lo consider possible improvements to governance and management practices. Page 9

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Forum is a grade 2. listed 1930's {ex-cinema) building that seats up lo 1,700 people, and occupies a central location in the city. 11 has a large auditorium, ancillary rooms and ofFices. The Forum has been the home of Life Church Bath (formerly Bath City Church) since 1988 and is the building where many of its activities lake place. 11 is also an excellent venue for large concerts and conferences. Lelling the building provides some additional Tevenue to the Trust as well as creating links with and supporting the local community. bl Appointment of Trustees and Members Trustees, who must accept the Statement of Doctrines of the church, are appointed by the Members of the company for a period of 4 years. At the end of this period, they may seek re-election for a further 4 years before retiring. Trust Membership is open to any individual interested in promoting the Objects of the Trust, and who is approved by the Trustees. cl Induction and training of Trustees New Trustees are mentored by an existing Trustee, and are given a range of background material such as church budgets, management accounts, policies, minutes, and Charity Commission guidance notes, to assist their understanding of the Trustees, roles and responsibilities. dl Safeguarding Policy In line with requirements relating to the protection of children, young people and vulnerable adults the Trust has issued a policy statement on safeguarding. Appropriate people have been appointed as safeguarding coordinators and information and procedures have been discussed with all those who may be faced with such issues on a regular basis. The Trust considers it has taken all the necessary action to ensure compliance. el Pay policy for senior staff Bath Christian Trust is committed to ensuring that gtsff are paid fairly and in a way which engures that the relevant skills are attracted and retsined so as lo have the greatest impact on delivering its charitable objectives. At the same time it is clear that the Trust has important responsibilities towards its beneficiaries and donors, and so its processes should be transparent and appropriate. The Trustees consider that the Board and the leadership team, with the senior management team, undertakes the key responsibilrties in directing, controlling, running and operating the Trust. Trustees give of their time freely and no Trustee received remuneration during the year. Details of Trustees, expenses and related party transactions are disclosed in note 12 to the accounts. The pay of the senior staff is reviewed periodicalty. fj Organisational structure and decision making In general, the Trustees have no involvement in the day-to-day management of church activities, bul have delegated this responsibility to the church leader, Jonathan Horsfall Trustees meet several limes a year to ensure that the Objects of the Trust are fulfilled, develop Trust policy, oversee compliance requirements and reputation management, and review physical activity and financial performance. Non-remunerated Trustees establish the remuneration policy for the Trust, and appraise and sel the remuneration of the church leader. The Chairman of the Board undertakes the annual appraisal of the full time members of staff. Professional advice on legal, financial and building matters is sought when necessary. Page 10

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Trustees reserve the following matters to themselves for decision-making.. Approval of the operating plan and budget Changes to accounting policies Authorisation of major capital expenditure Borrowing facilities Principal terms and conditions of employment, and recruitment of senior managers Changes to church policies All Trustees are deemed independent on the basis of their declared interests. Management The church leader has established a senior leadership team, which, supported by staff employees and volunteers, is responsible for managing the day-to4ay affairs of the Trust. This includes leading church members to a closer relationship with God, preparing and implementing the operating plan and budget, ensuring the safety and welfare of employees and volunteers, and exercising risk management procedures. At the end of March 2023 the Trust employed 15 full-time and 18 part-time staff. Volunteers play a critical role in maintaining the aclniities of the Trust. At the end of March 2023 there were approximately 689 church members12022 6601, including youth and children, most of whom were involved in some form of church activity. Approach to corporate governance The Trust seeks to comply with established best practice. It believes that the highest standard of integrity is essenb'al throughout the Trust's operab'ons. gl Related party relationships The Trustees set up a subsidiary company, Bath Forum Limited, on 07 March 2013 which commenced trading on 1 April 2013. Bath Christian Trust owns 1000/0 of the share capital of Bath Forum Limited. The principal activities of the company are.. hiring out of the Forum for events running an independent coffee shop This is part of the strategy for using the Forum as a great meeting place in the heart of the city. All taxable profits will be gift aided to Bath Christian Trust. The Trustees set up an additional subsidiary company, Bath Box Office Limited, which was incorporaled on 20th January 2021. Bath Christian Trust owns 1000/0 of the share capital of Bath Box Office Limited. The principal activity of the company is to sell tickets for events as a supporting activity for the Forum venue and for other organisations within the local area. All taxable profits will be gift aided to Bath Christian Trust. PLANS FOR FUTURE PERIODS In accordance with the Trust's Objects, our desire is for church members to become closer to God, and for people in the crty of Bath, the nation, and overseas lo experience the Good News of Jesus Christ. Specific activities are flexible and depend on Holy Spirit leading and available financial resources, but desired objectives are set out below. Page11

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Principal Objectives for 2023124 Build the life of the church with new Sermon series with inward and outward focus Light In the City- impacting those around us Tenl-Table-Temple- a fresh look at the importance of various aspects of Christian life Continue to develop the leadership team and explore the roles of eldership and leadership Discipleship - One addition to the pastoral team will bring a focus on strengthening the health of discipleship within the Church. Life group leadership meetings will recommen￿ with a planned schedule for leaching and training in 2024. The 'Tent. Table. Temple,, series aims to stir the church community into deeper discipleship across personal connection with God, vibrant life group fellowship, and enriched church gatherings. Looking into 2024, we forecast steady growth in church members joining life groups and the equipping and releasing of new life group leaders. Build a church community that is focused on being active and confident in faith, carrying a sense of well motivated engagement and increased mutual responsibility across a multi generational and geographically dispersed congregation. This will be achieved by.. strengthening and extending departmental responsibilities that focus and channel activity and ministry., strengthening and increasing the coverage of life groups across the church keeping people connected and engaged in the church community., priorilising the development of the children and families ministry consolidating the work with youth, students and young adults, older people building on the Kickstart program, engaging with those attracted lo the church and its influence in the city and surrounding region., ensuring that a pastoral team is in place, equipped and resourced to maintain a safe and supportive environment for a growing community deliver events that strengthen the community eg build on the success of previous year's church camp Continue to maintain an online presence for the Church and so extend the influence of the Church and its ministries Continue lo foster and develop open, positive relationships within the wider Christian and church community in Bath Support the income generation of the trading activrties by establishing a stronger, clearer brand on a loeal and regional level, in order to relain customer visrts in an expected more crowded market Procure academic reports lo demonstrate local economic impact on the city so as to secure our standing and influence in future city wide decisions that could affect us eg local night time economy transport plan Consolidate an emerging ticket-booking fee rebate ￿heme to provide an additional income stream Continue growing strategic local partnership relationships to seek out funding that becomes available as the public purse regenerates posl-covid and which will benefit growlh of the charity's objectives. Information on fundraising practices The main SOUTce of revenue was from member donations and the tax reclaimed on these charitable gifts. Other income was derived through the trading companies from Letting the Forum Building, from the Forum Coffee House and from the activities of the Box Office. The charity does not engage the services of a professional fundraiser or any commercial participator carrying out fundraising activities on its behalf. Page 12

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Disclosure of information to auditor Each of the persons who are Trustees al the time when this Trustees, Report is approved has confirmed that.. so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditor is unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditor is aware of that information. Auditor This is the first year with Bishop Fleming performing the annual accounts audit for the organisalion. Subject to satisfactory conclusion in the preparation of the accounts and financial statements, the designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees. Approved by order of the members of the board of Trustees on behalf by.. 3010112024 and signed on their S Harrison Trustee Page 13

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The Trustees (who are also the directors of the Charity for the purposes of company lawl are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practi￿1. Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the Group and the Charity and of their incoming reSoUr￿S and application of resources, including their income and expenditure, for that period. In preparing these financial slatemenls, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial stslemenls., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufFicienl to show and explain the Group and the Charity's transactions and disclose with reasonable accuracy al any time the financial position of the Group and the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Charity and hen￿ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 14

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BATH CHRISTIAN TRUST OPINION We have audited the financial statements of Bath Christian Trust (the 'parent charitable companll and ils subsidiaries (the 'group'l for the year ended 31 March 2023 which comprise the Consolidated Statement of Financial Aclivilies. the Consolidated Statement of Financial Position, the Charity Statement of Financial Position, the Consolidated Statement of Cash Flows and the related notes, including a SLJmmary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom AccoLJnting Stsndards, including Financial Reporting Standard 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting practi￿). In our opinion the financial statements.. give a true and fair view of the slate of the Group's and of the parent charitable company's affairs as at 31 March 2023 and of the Group's incoming resources and application of resources, including its income and expenditure for the year then ended", have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. 8ASIS FOR OPINION We conducted our audit in accordance with Intemalional Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit of the financial ststemenls section of our report. We are independent of the Group in accordance with the ethical requirements that are ￿levant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit eviden￿ we have obtained is sufficient and appropriate to provide a basis for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitsble company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going cOn￿M are described in the relevant sections of this report. Page 15

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BATH CHRISTIAN TRUST (CONTINUED) OTHER INFORMATION The other information comprises the information included in the AnnLJal Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except lo the extent othen￿lSe explicitly stated in our report, we do not express any form of assurance conclLJsion Ihereon. Our responsibility is lo read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstslement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. MArrERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing lo report in respect of the following matters where the Charities IAccounts and Reports) Regulations 2008 reqLJires us to reFX)rt to you if, in our opinion.. the Infomialion given in the Trustees, Report is inconsislenl in any material respect with the financial statements., or the parent charitable Company has not kept sufficient aceounling records," or the parent charitable company financial statements a￿ not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustees, Responsibilities Statement, the Trustees Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease opeotions, or have no realistic alternative but to do so. Page 16

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BATH CHRISTIAN TRUST (CONTINUED) AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatemenl. whether due to fraud or error. and lo issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, oullined above, lo delect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecling irregularities, including fraud is detailed below.. We have considered the nature of the sector, control environment, and financial performance., We have considered the results of enquiries with management and trustees in relation lo their own identification and assessment of the risk of irregularities within the entity., and We have reviewed the documentation of key pro￿$SeS and controls and performed walklhroughs of transactions to confirm that the systems are operating in line with documenlalion. As 8 result of these procedures, we have considered the opportunities and incentives that may exist within the organisalion for fraud and identified the highest area of risk lo be in relation lo revenue recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAS IUKI we are also required to perform specific procedures to respond to the risk of management override. We have also obtained understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the delerminalion of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this Context included the Charities Act 2011, Charity SORP 2019, FRS 102 and the terms and conditions attaching to material gonls received by the Charity. In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance with which may be fundamental to the Charity's ability to operate or avoid a material penalty. These included data protection regulations, health and safety regulations and employment legislation. Our procedures lo respond to risks Identified Included the following.. Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements., Performing analytical procedures lo identify unusual or unexpected relationships that may indicate risks of material misslalemenl due to fraud., Reviewing board meeting minutes., Enquiring of management In relation to actual and potential claims or Iiligations., Performing detailed transactional testing in relation to the recognition of revenue, specifically grants, wth a Particular focus around year-end cul off, and In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments,. assessing whether the judgments made in accounting estimates are indicative of potential bias., and evaluating the business rationale of significant transactions that are unusual or outside the normal course of business. We also communicated identified laws and regulations and potential fraud risks lo all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and Page 17

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF BATH CHRISTIAN TRUST (CONTINUED) regulations throughout the audit. As a result of the inherent limitations of an audit, there is a risk that not all irregularities, including a material misstatement in financial statements or non-compliance with regulation, will be detected by us. The risk increases the further removed compliance with a law and regulation is from the events and transactions reflected in the financial statements, given we will be less likely to be aware of it, or shoLJld the irr￿ula￿ty occur as 8 result of fraud rather than a one off error, as this may involve intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or .uklauditorsres onsibilities. This description forms part of our Auditors, Report. USE OF OUR REPORT This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo the charitable company's trustees those matters we are reqLJired to stale to them in an Auditors, Report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. David Butler FCA DChA Isenior statutory auditor) for and on behalf of Bishop Fleming LLP Chartered Accountants Stslutory Auditors 10 Temple Back Bristol BS1 6FL Dale.. 31 January 2024 Bishop Fleming LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. Page 18

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted funds 2023 Restricted fund$ 2023 Total fund$ 2023 Total funds 2022 Note Income from: Donations and legacies Charitable activitie$ Other trading activities Investments Other income 797,952 6,020 1.540.087 729 34,080 34,308 832,260 6,020 1.540,087 729 34,080 772,980 6,143 947,105 26 Total income 2,378.868 34.308 2,413.176 1,726,262 Expenditure on: Raising funds Charitsble activities 1,354,549 865,792 1.354,549 900,653 911,225 766,068 34,861 Total expenditure 2.220.341 34.861 2.255.202 1,677,293 Net incomellexpenditurel before taxation 158,527 15531 157,974 48,969 12271 Taxation 14 Net movement In funds 158,527 15531 157,974 48,742 Reconciliation of funds: Totsl funds brought forward Nel movement in fvnds 2,748,631 158,527 29,328 15531 2,777,959 157,974 2,729,217 48,742 Total funds carried fopHard 2.907,158 28,775 2.935,933 2,777,959 Page 19

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER..04122782 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2023 2023 2022 Note Fixed assots Tangible assets 15 2,884,312 2,898,786 2,884,312 2,898,786 Current assets Stocks Debtors Cash al bank and in hand 17 18 26,116 307,021 941.837 6,970 247,062 985,155 1.274.974 1,239,187 Creditors.. amounts falling due within one year 19 1758,576) 1805,2201 Net current assets 516.398 433,967 Total assets less current liabilities 3.400,710 3,332,753 Creditors." 8mounls f811ing due after more than one year 20 {464,7771 1554,7941 Net assgts excluding pension asset 2,935.933 2,777,959 Total net assets 2.935,933 2,777,959 Charity funds Reslricled funds 21 28,775 2,907,158 29,328 2,748,631 Unrestricted funds 21 Total funds 2,935,933 2,777,959 The Charity was entided lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity lo obtain an audit for the year in question in accordan￿ with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial statements. The financial slalemenls have been prepared in accordanTr with the provisions applicable to enlilies subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Page 20

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER..04122782 CONSOLIDATED STATEMENT OF FINANCIAL POSITION ICONTINUEDI AS AT 31 MARCH 2023 S Harrison Dale. 3010112024 The notes on pages 25 to 49 form part of these financial statements. Page 21

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER..04122782 CHARITY STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Note Fixed assots Tangible assets Investments 15 16 2,856,556 2,859,755 2.856.558 2,859,757 Current assets Debtors Cash al bank and in hand 18 178,863 299.131 296,180 270,314 477.994 566,494 Creditors.. amounts falling due within one year 19 1212,472) 1197,3631 Net current assets 265.522 369, 131 Total assets less current liabilities 3.122,080 3,228,888 Creditors." 8mounls f811ing due after more than one year 20 {464,7771 1554,7941 Net assgts excluding pension asset 2,657.303 2,674,094 Total net assets 2.657,303 2,674,094 Charity funds Reslricled funds 21 28,775 2,628,528 29,328 2,644,766 Unrestricted funds 21 Total funds 2,657,303 2,674,094 The Charity's nel movement in funds for the year was £116,791112022 - £17,085). The Charity was entided lo exemption from audit under section 477 of the Companies Act 2006. The members have not required the entity lo obtain an audit for the year in question in accordan￿ with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 151 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and preparation of financial statements. The financial slalemenls have been prepared in accordanTr with the provisions applicable to enlilies subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Page 22

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI REGISTERED NUMBER..04122782 CHARITY STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 31 MARCH 2023 S Harrison Dale.. 3010112024 The notes on pages 25 to 49 form part of these financial statements. Page 23

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash flows from operating activities Nel cash used in opeoting activities 15,411) 500,486 Cash flows from investing activitios Dividends, interests and rents from investments Purchase of tangible fixed assets 729 {16,898) 26 19,7361 Net cash used in investing activities 116.169} 19.7101 Cash flows from flnanclng actlvltles Repayments of finance leases {21.738} 121,7381 Net cash used in financing activities 121,738} 121.7381 Change In cash and cash equivalents In the year Cash and cash equivalents at the beginning of the year 143,318} 985.155 469,038 516,117 Cash and cash equivalents at the end ofthe year 941.837 985,155 The notes on pages 25 to 49 form part of these fin8nci81 statements Page 24

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 General infomiation Bath Christian Trust is a private company limited by guarantee. registered in England & Wales with a company registration number 04122782. It is a registered charity with a registered nLJmber 1085602. Its registered office, and that of its subsidiary undertakings, Bath Forum Limled and Bath Box Office Limited, is 1 a Forum Buildings, St James Parade. Bath, BA1 1 UG. Accounting policies 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities". Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Bath Christian Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless olhetwise slated in the relevant accounting policy. The financial statements are prepared in sterling which is the functional currency of the Trust and group and are rounded to the nearest £. Comparative information relates lo the year ended 31 March 2022. The Consolidated Statement of Financial Activities ISOFAI and Consolidated Balan￿ Sheet consolidated the financial statements of the Group and ils subsidiary undertaking, The results if the subsidiary are consolidated on a line by line basis. The Consolidated Ststemenl of Financial Activities ISOFAI and Consolidated Ststemenl of Financial Position consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis. The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented ils own Statement of Financial Activities in these financial stalemenls. 2.2 COMPLIANCE WITH ACCOUNTING STANDARDS The charitable company has adapted the headings and sut>headings of its financial statements due to the special nature of ils business in accordan￿ with the Companies Act 2006. The company is a registered charity and so achievements cannot be measured by normal commercial criteria of profi't and loss. Accordingly, as permitted by Companies Act 2006, the Trustees have presented a Statement of Financial Activities instead of a Profi't and Loss Account as, in their opinion, this will better reflect the special nature of the charitable company's activities. Page 25

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinuedl 2.3 GOING CONCERN The consolidation during the year of various core activities of church life, alongside the development of thriving Eldership. Leadership and Management teams, has provided a firm foLJndation for further extending both the impact and reach of the church. as well as the commercial activities that are now well-placed lo provide a thriving live music venue, and thereby generate fLJnds hal contribute towards ongoing building improvements. Close attention continues to be given lo the analysis of budget and cash flow forecasts over an extended period greater than twelve months so as lo be able to plan and respond to the needs of the organisalion. The Trustees have a reasonable expectation that the TrLJSt has adequate resources to continue in operational existence for the foreseeable fLJture. For this reason they continue to adopt the going concern basis in preparing the financial statements. 2.4 INCOME All income is recognised once the Charity has entillemenl to the income, il is probable that the income will be received and the amoLJnt of income receivable can be measured reliably. The rec(￿nitIon of income from legacies is dependent on establishing entitlement. the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the propety in question will not be required to satisfy claims in the estate. Receipt of a legacy musl be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount lo be distributed lo the Charity, Can be reliably measured. Grants are included in the Consolidated Statement of Financial Activities on a r￿1Vable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Statement of Financial Position. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income lax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which il is receivable and to the extent the goods have been provided or on completion of the service. Page 26

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinuedl 2.5 EXPENDITURE Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs inVo￿ed in undertaking each activity. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resoLJrces. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Fundraising costs are those incurred by the charity's subsidiaries, Bath Forum Limited and Bath Box Office Limited, in hiring out the venue. Support costs are those costs incurred directly in support of expenditure on the objects of the TrusL Expenditure on raising funds includes all expendilLJre incurred by the Group lo raise funds for ils charitable purposes and includes costs of all fundraising activities events and non•charitable trading. Expenditure on charitable activities is incurred on direclly undertaking the activities which further the Group's objectives, as well as any associated support costs. Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been mel at the year end are noted as a commitment, bul not accrued as expenditure. All expenditure is inclusive of irrecoverable VAT. 2.6 GOVERNMENT GRANTS Govemmenl grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred. 2.7 INTEREST RECEIVABLE Interest on ftjnds held on deposit is included when receivable and the amount can be measured reliably by the Group," this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. 2.8 FOREIGN CURRENCIES Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. Transactions in foreign currencies are translated into slerfing al the rale ruling on the dale of the transacb'on. Exchange gains and losses are recognised in the Consolidated Statement of Financial Aclivilies. Page 27

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinuedl 2.9 TAXATION The Charity is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable PLJrposes. 2.10 INTANGIBLE FIXED ASSETS AND AMORTISATION Intangible assets are capitalised and recognised when future economic benefits are probable, and the cost or valuation of the asset can be measured reliably. Intangible assets are initially recognised al cost and are subsequenUy measures t cost net of amortisation and any provision for impairment. 2.11 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets costing £500 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measLJred reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incLJrred lo bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated usefvl lives, using the straighl-line method. Depreciation is provided on the following bases.. Long-term leasehold propety Fixtures and fillings Other fixed asset$ 200/0 straight line 33.3'/0 Straight line Leasehold land and buildings are not depreciated as the building is regularly maintsined and the useful economic life so long Ilhe length of the lease is 500 years from 25 March 19331 that depreciation is immaterial. Impairment reviews are undertaken at the end of each reporting period. 2.12 INVESTMENTS Fixed asset investments are a form of financial instrument and are Initial￿ recognised al their transaction cost and subsequently measured al fair value at the Statement of Financial Position date, unless the value cannot be measured reliably in which case it is measured al cost less impairment. Investment gains and losses, whether realised or Ljnrealised. are combined and presented as 'GainsllLossesl on investments, in the Consolidated Statement of Financial Aclivilies. Investments in subsidiaries are valued at cost less provision for impairment. 2.13 STOCKS Stocks are valued al the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proFlOrtion of fixed and variable overheads. Page 28

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinuedl 2.14 DEBTORS Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.15 CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.16 LIABILITIES AND PROVISIONS Liabilities are recognised when there is an obligation at the Statement of Financial Position dale as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay lo settle the debt or the amount it has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost. 2.17 FINANCIAL INSTRUMENTS The Group onty has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.18 FINANCE LEASES AND HIRE PURCHASE Assets obtained Ljnder hire purchase contracts and finance leases are capilalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Consolidated Statement of Financial Activities so as to Produ￿ a constant periodic rate of charge on the net obligation outstanding in each period. 2.19 OPERATING LEASES Rentals paid under operating leases are charged lo the Consolidated Statement of Financial Activities on a straight-line basis over the lease term. 2.20 PENSIONS The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year. Page 29

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Icontinuedl 2.21 FUND ACCOUNTING General funds are unreslricled funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Designated funds comprise unrestricted fLJnds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set OLJt in the notes lo the financial statements. Restricted funds are funds which are to be used in accordance with specific reslriclions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes lo the financial statements. Investment income, gains and losses are allocated to the appropriate fund. INCOME FROM DONATIONS AND LEGACIES Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total funds 2022 Tithes Housekeeping offerings Special offerings and gifts Tax Recoverable Government grants relating to furlough 649,530 40,011 649,530 40.011 34.308 108,411 567,747 36,541 66,222 99,863 2,807 34,308 108,411 797,952 34,308 832.260 772,980 TOTAL 2022 703,951 69,029 772,980 INCOME FROM CHARITABLE ACTIVITIES Unrestricted funds 2023 Total funds 2023 Total funds 2022 Conferences and training 6,020 6,020 6,143 TOTAL 2022 6,143 6,143 Page 30

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 INCOME FROM OTHER TRADING ACTIVITIES Income from non charitsble trading activities Unrestricted funds 2023 Total funds 2023 Total funds 2022 Charity trading income Government grants Sales 1,378,967 1.378.967 918,528 28,577 161,120 161,120 1,540,087 1.540.087 947,105 TOTAL 2022 947,105 947,105 INVESTMENT INCOME Unrestricted funds 2023 Total funds 2023 Total fvnds 2022 Bank Interest 729 729 26 TOTAL 2022 26 26 OTHER INCOMING RESOURCES Unrestrieted funds 2023 Total funds 2023 Total funds 2022 Other incoming resources 34,080 34,080 TOTAL 2022 Page 31

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ANALYSIS OF GRANTS Grants to Grants to Institutions Individuals 2023 2023 Total funds 2023 Total funds 2022 Grants, Advan￿ment of the Christian Faith and Education 60,934 38,234 99.168 96,254 TOTAL 2022 25,011 71,243 96,254 The Group has made the following material grants to institutions during the year.. 2023 2022 NAME OF INSTITUTION Philippines Project Life Stream Ministries Cavalry Tower Links Intemalional Genesis Trust World Sport Ministries Mercy in Action Widcombe PCC others (less than £1,000) 11.806 35.374 2,160 1,500 1.800 8,600 4,800 3,170 3,000 1,800 1,000 3,794 2,300 2.200 2,641 60.934 25,011 60,934 25,011 ANALYSIS OF EXPENDITURE BY ACTIVITIES Activities undertaken directly 2023 Grant funding of activities 2023 Support costs 2023 Total funds 2023 Total funds 2022 Advancement of the Christian Faith and Education 306,929 99,168 494,556 900.653 766,068 TOTAL 2022 249,523 96,254 420,291 766,068 Page 32

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ANALYSIS OF EXPENDITURE BY ACTIVITIES {¢ontinued) Analysis of direct costs Total funds 2023 Total funds 2022 Activities 2023 Stsff costs Ministry support 246,979 59,950 246.979 59.950 200,592 48,931 306,929 306,929 249,523 TOTAL 2022 249,523 249,523 Page 33

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ANALYSIS OF EXPENDITURE BY ACTIVITIES {¢ontinued) Analysis of support costs Total funds 2023 Total funds 2022 Wages and salaries Depreciation Premises costs Repairs and maintenance Amounts payable under operating leases Printing, postage and stationery Telephone Computer and website costs 69.887 16.722 152,680 24,136 3.201 7.174 6,573 58,537 15,844 132,248 21,487 2,987 3,676 5,893 7,390 k li Training and conferences Fellowship and catering Travelling expenses Bank charges Loan interest Legal and professional charges Interest on leading boilers Miscellaneous Equipment and consumables Irrecoverable VAT 30.461 15.924 17,297 4,450 23.187 26.093 7,246 18,832 8.578 31.033 868 27,927 6,668 15,580 4,284 14,110 21,849 7,246 17,998 7,081 23,768 499 Office Supplies Governance costs 24,968 25,219 494.556 420,291 Page 34

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. GOVERNANCE COSTS 2023 2022 Auditors, remuneration Auditors, non audit costs strategic planning Staff costs Social security costs Pension costs 24,968 15,000 5,100 5,120 18,225 1,337 700 6.000 22,161 1,726 811 55.666 45,482 11. AUDITORS. REMUNERATION 2023 2022 Fees payable lo the Trust's auditor and for the audit of the Trust and its subsidary's annual accounts Fees payable to the Charity's auditor in respect of. All non-audil services not included above 16.968 15,000 8.000 5,100 The 2023 audit and preparation of the financial statements was undertaken by Bishop Fleming LLP. The 2022 engagement was completed by Mazars LLP. 12. STAFF COSTS Group 2023 Group 2022 Charlty 2023 Charity 2022 Wages and salaries Social security costs Contribution lo defined contribution pension schemes 895.432 55.156 656,791 42,229 284.387 22.161 234,259 16,513 26,669 20,055 10,318 8,357 977,257 719,075 316,866 259, 129 100/0 of staff cosls1£24,698, 2022.. £20,263) are also governance costs. Page 35

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. STAFF COSTS Icontinuedl The average number of persons employed by the Charity during the year was as follows.. Group 2023 No. Group 2022 No. Furtheran￿ of the Christian Faith and Education 30 24 No employee received remuneration amounting to more than £60,000 in either year. During the year 10 people were considered to be key management personnel12022' 91. The remuneration and benefits paid to key management personnel in the year was £244,112 12022.. £151,8571. During the year, Trustees and their related parties made donations of £89,49812022.. £46,632). 13. TRANSACTIONS MTH TRUSTEES Expenses amounting to £13,395 12022.. £14,853, one Trusleel were paid on behalf of one Trustee lo cover motor and travel expenses (including ministry travell, telephone costs and training expenses. Nil12022'. Nil) was paid to Trustees for other business expenditure. As well as being a Trustee, D Reynolds is the Oversight Leader of Life Church Bath. D Reynolds is also the Senior Leader of five church congregations in the USA, collectively known as Life Stream Ministries. Payments of £105,000 12022.. £63,000) were made lo Life Stream Ministries being £60,000 as lithe of revenue, £33,000 as a 'gift' and £12,000 as stipend. In addition a gift was made lo D+F Reynolds of £Nil12022.' £1,500) through Life Stream Ministries Payments lotalling £13,236 {2022'. £13,363) were made by the Trust for rental accommodation for D Reynolds and his family during the year. 14. TAXATION 2023 2022 CORPORATION TAX TOTAL CURRENT TAX DEFERRED TAX Origination and reversal of timing differences Changes lo tax rates Adjustments in respect of prior periods 12,7161 2,994 1511 TOTAL DEFERRED TAX 227 TAXATION ON NET INCOMEIIEXPENDITURE) 227 Page 36

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 14. TAXATION lcontinuedl The tax assessed for the year is higher than12022 - lower thanl the standard rate of corporation tax in the UK of 190/.12022 - 19Yol. The differences are explained below.. 2023 2022 Nel incomellexpenditurel before tax 157,974 48,969 Nel incomellexpenditurel multiplied by the standard rate of corporation tax in the UK of 1912022 _ 190AI. EFFECTS OF: 30,015 9,304 Reversal of deferred tax charge and gift aid relief {30.015} 19,0771 TOTAL TAX CHARGE FOR THE YEAR 227 Factors that may affect future tax Charges The UK Government announced in the 2021 budget that from 1 April 2023, the rate of corporation tax in the United Kingdom wll increase from 19,/ 10 250A. Companies with profits of £50,000 or less will continue to be taxed at 190/0, which Is a new small profits rate. Where taxable profits between £50,000 and £250,000, the higher 250/9 rate will apply bul with a marginal relief applying as profits Increase. Page 37

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. TANGIBLE FIXED ASSETS GROUP Long-term leasehold Fixtures and Other fixed property fittings assets Total COST OR VALUATION At 1 April 2022 Additions Disposals 2.768,267 928.380 19,705 13,707) 3.311 3.699,958 19,705 13,7071 At 31 March 2023 2.768,267 944.378 3.311 3.715,956 DEPRECIATION At 1 April 2022 Charge for the year On disposals 797.861 31,372 {900} 3.311 801,172 31,372 19001 At 31 March 2023 828.333 3.311 831.644 NET BOOK VALUE At 31 March 2023 2.768,267 116.045 2.884,312 At 31 March 2022 2,768,267 130,519 2,898,786 Page 38

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. TANGIBLE FIXED ASSETS Icontinuedl CHARITY Long-term leasehold Flxtures and property fittings Total COST OR VALUATION At 1 April 2022 Additions Disposals 2,768,267 679,413 17.228 {3.707) 3,447,680 17.228 13.7071 At 31 March 2023 2,768,267 692,934 3,461,201 DEPRECIATION At 1 April 2022 Charge for the year On disposals 587,925 17.620 1900) 587,925 17,620 19001 At 31 March 2023 604,645 604,645 NET BOOK VALUE At 31 March 2023 2,768,267 88,289 2,856,556 At 31 March 2022 2,768,267 91,488 2,859,755 Page 39

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. FIXED ASSET INVESTMENTS Investments subsidiary companies CHARITY COST OR VALUATION At 1 April 2022 At 31 March 2023 NET BOOK VALUE At 31 March 2023 AT 31 MARCH 2022 PRINCIPLE SUBSIDIARIES The following were subsidiary undertakings of the Charity.. Names Company number Class of shares Holding Included in consolidation Bath Forum Limited Bath Box Oftice Limited 08434485 13145769 Ordinary Ordinary 1009/0 Yes 1009/0 Yes The financial results of the subsidiaries for the year were.. Names Income Expenditure ProfitllLossl I Surplusl (Deficit) for the year Net assets Bath Forum Limited Bath Box Oftice Limited 1,353.531 186.556 11,217.789) (167.355) 155.564 19.201 256.657 21.975 Page 40

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. STOCKS Group 2023 Group 2022 Finished goods and goods for resale 26.116 6,970 18. DEBTORS Group 2023 Group 2022 Charity 2023 Charity 2022 DUE WITHIN ONE YEAR Trade debtors 145 Amounts owed by group undertakings other debtors Prepayments and accrued income Tax recoverable 126.756 7.939 8,249 35,919 233,462 5,811 7,818 49,089 232.847 38,255 35,919 159,151 38,677 49,089 307.021 247,062 178.863 296, 180 Page 41

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2023 Group 2022 Charity 2023 Charity 2022 Bank loans 69,129 454,869 62.098 56,336 454,274 42,251 69,129 56,336 Trade creditors other laxalion and social security Obligations under finance lease and hire purchase contracts Other creditors Accruals and deferred income 15.893 26,148 28.030 12,954 131,496 25,425 7,456 219,478 28.030 11,353 88,067 25,425 5,899 83,755 758.576 805,220 212.472 197,363 20. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Group 2023 Group 2022 Charity 2023 Charity 2022 Bank loans Nel obligations under finance lease and hire purchase contracts 434.184 499,857 434.184 499,857 30,593 54,937 30,593 54,937 464,777 554,794 464,777 554,794 Included within the above are amounts falling due as follows.. Group 2023 Group 2022 Charity 2023 Charity 2022 BETWEEN ONE AND TWO YEARS Bank loans 69,129 57,766 69,129 57,766 BETWEEN TWO AND FIVE YEARS Bank loans 207,387 182,243 207,387 182,243 OVER FIVE YEARS Bank loans 157,668 259,848 157,668 259,848 Page 42

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 31 March 2023 Balance at 1 April 2022 Income Expenditure UNRESTRICTED FUNDS DESIGNATED FUNDS E Puddiford Legacy Youth Ministry Support Fund YoLJth Media Fund Ministry Fund l Youth & Children 5.939 383 4,260 6.333 13,500} 2,439 383 4,260 6.333 16,915 13,500} 13,415 GENERAL FUNDS General Fund Bath Forum Limited 2,627.851 101,091 2,774 838,781 1,353,531 186,556 1831.697} 2.634,935 11,217,789} 236,833 1167,355) 21,975 Bath Box Office Limited 2,731.716 2.378,868 12.216.841} 2.893,743 TOTAL UNRESTRICTED FUNDS 2,748,631 2,378,868 12,220,341) 2,907,158 RESTRICTED FUNDS Support during homelessness Gifts to individuals beyond Life Church Bath Gifts to individuals In Life Church Bath Ministry projects within Life Church Bath Gifts to Organisalions Hardship Fund 7,381 7,381 1.496 15.991 5.685 2,406 13,491 12,726 15,685} 12.527} {13,116} (13,533) 1.496 15,870 818 3,205 4,012 29.328 34.308 134.861} 28.775 TOTAL OF FUNDS 2,777,959 2,413,176 12.255,202} 2,935,933 Page 43

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Ststement of funds Icontinuedl STATEMENT OF FUNDS- PRIOR YEAR Balance at 31 March 2022 Balance at 1 April 2021 Transfers inlout Income Expenditure Taxation UNRESTRICTED FUNDS DESIGNATED FUNDS E Puddiford Legacy Youth Ministry Support Fund Youth Media Fund Ministry Fund I Youth & Children 12,439 16,5001 5,939 583 4,260 12001 383 4,260 6,333 6,333 23,615 16,7001 16,915 GENERAL FUNDS General Fund Bath Forum Limited Bath Box Office Limited 2,610,937 710,128 1696,0231 2,809 2,627,851 77,309 813,271 1789,2621 12271 101,091 133,834 1131,0801 2,774 2,688,246 1,657,233 11,616,345) 12271 2,809 2,731,716 TOTAL UNRESTRICT ED FUNDS 2,711,861 1,657,233 11,623,045) 12271 2,809 2,748,631 Page 44

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Ststement of funds Icontinuedl RESTRICTED FUNDS Support during homelessness Gifts to individuals beyond Life Church Bath 7,594 12131 7,381 3,500 13,5001 Gifts to individuals in Life Church Bath Ministry projects within Life Church Bath Gifts to Organisations Hardship Fund Government CJRS Scheme 86 27,119 125,7091 1,496 4,309 11,682 15,991 453 8,903 14,936 8,985 114,9461 113,8761 443 1,205 12,8071 2,807 2,807 21,350 69,029 158,2441 12,8071 29,328 TOTAL OF FUNDS 2,733,211 1,726,262 11,681,289) 12271 2,777,959 Page 45

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. Ststement of funds Icontinuedl DESCRIPTION OF FUNDS Unrestricted fLJnds Tithe of revenue Bath Christian Trust allocated a proportion of its funds to further the work of other charitable causes and Christian ministries and projects in this country and for mission overseas. These funds are distributed in accordance with the goveming document of Bath Christian Trust whose objectives are.. The advancement of the Christian faith in accordan￿ with the statement of doctrines in Bath Christian Trust's memorandum of Association., To relieve those in conditions of need, hardship or distress or who are aged or sick., and To promote education {including vocational trainingl on the basis of Christian principles. E Puddiford Legacy Funds lo be set aside for projects furthering the advan￿ment of the Kingdom of God. Youth Ministry Support Fund Funds allocated for young people in Life Church Bath to be able lo pursue ministry training Youth Media Fund Funds allocated for equipment and publicity required to facilitate youth events in Life Church Bath. Ministry Fundl Youth and Children Funds allocated lo further the work with youth and children. Reslricled funds Support during homelessness Helping people during periods of transition during accommodation difficulties. Philippines- SUPPOrting the poor Life Church Bath supports the work of one of our church members who lives and works in and around Ozamiz City with the Happy Church. She runs many projects and initiatives to build people up in their Christian faith and help them work their way out of the poverty trap that the people of the nation find themselves in. Various people within the church have become involved in raising the profile of, and funds for, relief and development there, as well as towards the main aim, which is to encourage the Filipino Christian in their faith. Gifts to individuals within and beyond Life Church Bath Donations that were requested lo be transferred to individuals. Ministry projects within Life Church Bath Gifts given lo fund the various ministries within Life Church Bath, including Worship, Prayer, Church Planting and working with people from overseas. Gifts to Organisalions Gifts given to support the woth of various organisations which share the same charitable objectives. Hardship Fund A fund that can be used to help individuals and families, both locally and further afield, who are experiencing financial difficulty during the pandemic and other situations that create hardship. Page 46

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 22. SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT YEAR Balance at 31 March 2023 Balance at 1 April 2022 Income Expenditure Designated funds General funds 16.915 2,731,716 29,328 13.500} 13,415 12,216,841} 2,893,743 134,861) 28,775 2,378,868 34,308 Reslricled funds 2,777.959 2.413,176 12.255.202} 2.935,933 SUMMARY OF FUNDS- PRIOR YEAR Ba18nce at 31 March 2022 Balance at 1 April 2021 Transfers inlout Income Expenditure Taxation Designated funds General funds Reslricled funds 23,615 2,688,246 21,350 16,7001 11,616,345) 158,2441 16,915 2,731,716 29,328 1,657,233 89,029 12271 2,809 12,8071 2,733,211 1,726,262 11,681,289) 12271 2,777,959 23. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,884,312 1,246, 199 1758,5761 1464,7771 2,884,312 1,274,974 {758.5761 {464.7771 28,775 TOTAL 2,907, 158 28,775 2,935,933 Page 47

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 23. ANALYSIS OF NET ASSETS BETWEEN FUNDS Icontinuedl ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted funds 2022 Reslricled funds 2022 Total funds 2022 Tangible fixed assets Current assets Creditors due within one year Creditors due in more than one year 2,898,786 1,209,859 1805,2201 1554,7941 2,898,786 1,239, 187 1805,2201 1554,7941 29,328 TOTAL 2,748,631 29,328 2,777,959 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 24. Group 2023 Group 2022 Nel income for the year las per Stslemenl of Financial Acliviliesl 157.974 48,742 ADJUSTMENTS FOR: Depreciation charges Dividends, interests and rents from investments Increase in stocks Increase in debtors 31,372 {729} {19.146} 1105,147) (69,735) 30,979 1261 15,0201 155,8651 485,672 Increasel Idecreasel in creditors NET CASH PROVIDED BYIIUSED INI OPERATING ACTIVITIES 15,411) 504,482 25. ANALYSIS OF CASH AND CASH EQUIVALENTS Group 2023 Group 2022 Cash in hand 941,837 985, 155 TOTAL CASH AND CASH EQUIVALENTS 941.837 985, 155 Page 48

BATH CHRISTIAN TRUST IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 26. ANALYSIS OF NET CHANGES IN DEBT At 1 April 2022 Cash flows At 31 March 2023 Cash at bank and in hand Debt due within 1 year Debt due after 1 year Finance leases 985,155 63,7921 {499.8571 180.3621 143,318} (18,291) 65.673 21.739 941,837 82,0831 {434.1841 158.6231 341,144 25,803 366,947 27. PENSION COMMITMENTS The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the Trust lo the fund and amounted lo £26,669 12022.. £20,053). Contributions tolalling £9,19412022'. £4,181) were payable lo the fund at the balance sheet dale and are included in creditors. 28. FINANCE LEASE COMMITMENTS At 31 March 2023 the Group and the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows.. Group 2023 Group 2022 Charity 2023 Charity 2022 Not later than 1 year Later than 1 year and not later than 5 years 28,030 30.593 37,177 76,055 28,030 30.593 37,177 113,232 58.623 113,232 58.623 150,409 Page 49

Bath Christian Trust 31-03-2023 - Final Accounts_for signing Final ALJdil Report 2024-01-30 Created.. 20244)1-30 By.. Helen Lolwd( [e-mail] Slalus.. Signe(I Transaction ID.. CBJCHBCAABAAMICqMi-5n10LNowcUEC41FkXck-ebja "Bath Christian Trust 31-03-2023 - Final Accounts_for signing" H istory Docum8nt created by Hel6n Lotwick {[e-mail] 2024-01-30- 5'.32'.36 PM GMT- IP address.. 51.52.159.66 Document emailed to Simon Harrison [e-mail] for signature 2024-01-30- 5..32..42 PM GMT Email viewed by Simon Harrison [e-mail] 2024-0140- 5".35".34 PM GMT- IP addtsss." 104.47.51.254 Document e-signed by Simon Harrison [e-mail] Signature Dale.. 2024-01-30- 5'.36'.32 PM GMT- Time Source.. server- IP address.. 87.117.64.68 Agreement completed. 2024-01-30- 5..36..32 PM GMT IJ Adobe Acrobat Slgn