Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 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 2024 ? Bishop Fleming Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Trustees. Report Trustees. Responsibilities Statement 14 Independent Auditors. Report on the Financial Statements 15-18 Consolidated Statement of Financial Activities 19 Statement of Financial Position 20 Charity Statement of Financial Position 21 Consolidated Statement of Cash Flows 22 Notes to the Financial Statements 23-45 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees S Harrison, Chair (Resigned 10 December 2024) S J Durrant B Hamer R M Jacobs A G King (Resigned 10 December 2024) W Moore D J Reynolds R E Martin (appointed 4 December 2023) C Kinnear (appointed 10 De￿mber 2024) Company registered number 04122782 Charity registered number 1085602 Registered office la Forum Buildings St James Parade Bath BA1 1UG Independent auditors Bishop Fleming LLP Chartered Accountants 10 Temple Back Bristol BS16FL Bankers The Royal Bank of Scotland East Street Leicester LE16NB Solicitors Stone King LLP Upper Borough Court (UBC) Upper Borough Walls Bath BA1 1RG Page 1 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees present their annual report together with the audited financial statements of Bath Christian Trust for the year 1 April 2023 to 31 March 2024. 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 Ihe current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 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 to its supplementary public benefrt guidan￿ on charities for the advancement of 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 education on the basis of Christian principles Aims The aims of the Trust are to". Seek the presence of God by Holy Spiril led gatherings, prophetic ministry, and prayer Bring the gospel of Jesus Christ to the cty, 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 to those in need, whether in the church, or the city, or overseas Page 2 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Specific objectives which were set for 2023124 Build the life of the church with two new Sermon series with inward and oulward focus Light in the City - impacting those around us Tent-Table-Temple- a fresh look at the Importan￿ 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 recommence with a planned schedule for teaching 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= o Strengthening and extending departmental responsibilities that focus and channel activity and ministry- o 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 o consolidating the work with youth. students and young adults, older people building on the Kickstart program, engaging with those attracted to the church and its influence in the city and surrounding region: o ensuring that a pastoral team is in pla￿, equipped and resOUr￿d 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 to foster and develop open, positive relationships within the wider Christian and church community in Bath Support the income generalion of the trading activities by establishing a stronger, clearer brand on a local and regional level. in order to retain customer visits in an expected more crowded market Procure academic reports to demonstrate local economic impact on the city so as to secure our standing and Influen￿ in future city wide decisions that could affect us eg local night time economy transport plan Consolidate an emerging ticket-booking fee rebate scheme to provide an additional income stream Continue growing strategic local partnership relationships to seek out funding that becomes available as the public purse regenerates post-covid and which will benefit growih 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 be￿een 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 accordan￿ with the Trust's Objects. Vvhere possible grants are made on a regular basis throughout the year, so that recipients can plan effectively. Page 3 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 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.. Activities undertaken to rovide Public Benefit Class of Public Benefit Trust Ob"ect: Advancement of Christian faith and worshi Sunda meetin s for worshi and teachin en meetin s to celebrate Christian festivals Christmas & Easter Conferences and schools coverin a wide ran e ofto ics Youth work, includin re ular meetin of various es Small fellowshi rou s for sharin and learnin of God Advancement of reli Advancement of reli Advancement of reli Advancement of reli Advancement of reli ion ion ion ion ion Trust Ob-ect: Relief of ersons in need. hardshi or distress, or who are a ed or sick Pra on the streets for eo le in need or who are ill Advancement of reli Visitin and carin for the sick and elderl Prevention and relief of Financial and spiritual support for missionary work in the UK and overseas Support for the Genesis Trust and others helping Ihe poor and homeless ion ove Prevention and relief of poverty Prevention and relief of poverty Trust Ob"ect: Promotion of education on the basis of Christian rinci les Children & outh re ularl tau ht to live accordin to Biblical rinci les Advan￿ment of education ACHIEVEMENTS AND PERFORMANCE Key financial perfonnance indicators in 2023124 Tithes and offerings: income overall was a 4 % increase compared to the previous year figure, arising from a few significant one-off donations Within the trading subsidiaries, the year built on the previous year recovery from the pandemic with an increase in turnover of 3 % on trading activities Cash balances.. close attention to budget projections and cash flow forecasts continue on a weekly basis and cash balances remain closely aligned with Trust policies. b) Review of activities in 2023124 Build the life of the church with two new Semion series with inward and outward focus Light in the City- impacting those around us Tent-Table-Temple - a fresh look at the importance of various aspects of Christian life The Light in the City sermon series concluded and the church continues to look at ways to positively reach out to the city of Bath. Outreaches included the Bath Half Marathon. The Polar Express Christmas Outreach. a Good Friday children's event in collaboration with other churches in the city and ongoing dialogue with Genesis Trust in the city, who we support monthly. The Tent-Table-Temple series began in the Aulumn with a fresh look at discipleship and the formation of our Christian life. Feedback from the congregation has been encouraging Wlth many reporting the teaching to be challenging and provoking. Page 4 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Continue to develop the leadership team and explore the roles of eldership and leadership The Senior Leadership team was re-established in the second half of 2023 and have met weekly to discuss church vision and direction. The re*stablishment of an eldership team remains a topic of planning and prayer. Discipleship - One addition to the pastoral team will bring 8 focus on strengthening the he81fh of disGipleship within the Church. Life group leadership meetings will recommenGe with a planned schedule for teaching 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 lrfe groups and the equipping and releasing of new life group leaders. The church community has embraced the Tent-Table-Temple teaching series. Leaders within the church have seen an increase in the congregation willing to engage in healthy communication, reconciliation and confrontation. Life Groups have had an increased profile through the Sunday teaching series, and as a result four new groups have started, with several further individuals emerging as potential group facilitators. The leaders have been meeting bi-monthly for training and equipping including a retreat day in March. Build a church community that is focused on being active and confident in faith, carying a sense of well motivated engagement and increased mutual responsibility across a multi generational and geographically dispersed Gongregation. This will be achieved by.. o Strengthening and extending departmental responsibilities that focus and channel activity and ministry," o 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 program, engaging with those attracted to the church and its influence in the city and surrounding region,. o 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 In FY 23124. the church went through significant staff turnover. Five new staff members have joined the team, bringing great experien￿ and enlhusiasm to their respective roles. The church continues to focus heavily on the children's. youth and young adult ministries The children's ministry has continued to develop with a new children's and families pastor who has developed the church's all age services, redeveloped the Sunday school curriculum, and started 'Launchpad', a regular social event for children to connect. The youth ministry has enjoyed a busy year with the planning of a city-wide youth outreach event which saw thousands of school children across Bath reached in a week of assemblies and a Friday night event at the Forum. Recruitment of a young adult pastor facilitated the relaunching of a young adults and students ministry. with 20-30 Young Adults attending regular weekly gatherings. Despite a rainy few days, the 2023 Church Camp brought a great sense of community and brought many families together. Plans for the 2024 church camp are well underway with aims to build on the successes and boost attendance. Page 5 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Continue to maintain an online p￿sen￿ for the Church and so extend the influence of the Church and its ministries The church continues to stream its weekly meetings online with work Unde￿aY to improve the audio quality. The church has also improved the ease in which those watching ServI￿S online can give financially to the church. Continue to foster and develop open, positive relationships within the wider Christian and church community in Bath Developing strong ecumenical partnerships remains a core value for the church leadership, with leaders from the church attending various leaders gatherings and prayer meetings in a variety of contexts across the city. The church also continues to host a city wide worship night once a month (The Well) which is well attended by a number of congregations from across the city. Support the income generation of the trading activities by establishing a stronger, clearer brand on 8 local and regional level. in order to retain customer visits in an expected more crowded market The Commercial Team used the Forum Building's 90th Birthday as the lynch pin around which to establish this. The opening of another local venue has enabled us to identify clear brand differences, driving a local preference for our venue. Ticket sales are reflective of this work but we are very conscious of needing to maintain this effort on an ongoing basis. Procure academic reports to 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 We produced an impact report and passed this on to the relevant parties and plan to do so on an on going basis. Consolidate an emerging ticket-booking fee rebate scheme to provide an additional income stre8m This has been achieved and income is being generated as expected. Continue growing strategic local partnership relationships to seek out funding that becomes available as the public purse regenerates post-covid and which will benefit growth of the charity's objectives. Our partnerships continue lo develop and are in a strong position, but post-covid the funding opportunities are yet to be realised. This work is ongoing. General activities Regular meetings for church members, with a strong emphasis on Spirit-led worship and Bible-based teaching. Sunday seNices 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 communrty Support for the poor and needy in the cty working with other agencies Support for the elderly Page 6 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Factors relevant to achieve objectives in 2023124 and ongoing The age distribution and profile of the church membership and congregation, notably maintaining a balance between: o a vibrant student and young adult membership contrasting with an older mature and aging membership o 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 locate in areas of cheaper housing outside the city limits. plus the wider area impact of the church ministry which means that over 400/0 of church members live outside the city limits The impact of social media and internet communications that challenges the nature, identity and fundraising models of church and its corporale expression The effects of the global pandemic on all the aspects mentioned above FINANCIAL REVIEW Going concern Income from Donations remains robusl with a slight increase over previous year figures. Recovery from the global pandemic continues and the return to live evenls has enabled the organisation to consolidate its position and continue with its mission. Close attention continues to be given to the analysis of budget and cash flow forecasts over an extended period greater than twelve months so as to be able to plan and respond to the needs of the organisation. 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 concem basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 7 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 b) 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 thal appropriate mitigation systems are in place. They are confident that, in particular, the internal financial controls conform to guidelines issued by the Charity Commission. The organisation has reviewed systems and processes during the coronavirus pandemic and continue to monitor associated risks. Risk A significant reduction in the level of financial giving by church attendees. Miti ation Prompt and accurate financial reporting and communication. Adapt Church meeting plans, maintain good comms to sustain regular income and reduce costs 8nd staffing where possible. staffing structure Continues to be monitored, taking a view on the pressure points in staffing in all areas of the organisation Dilapidations schedule regularty reviewed and ongoing action plan monitored,. capital investment program drafted Venue Manager continues to liaise with promoters and key hirers to manage events in the light of govemment guidelines, monitoring adverse financial consequences,. and trends in bookings so as to adjust staffing levels and costs as appropriate. Take advice from Police and local agencies. Develop strategies procedures 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 to remain flexible to and prayerfully sensitive in direction and structures for meeting, and to monitor reactions and sensitivifies through pastoral connection and encouragement, and use of online presence and social media Public Liability insurance. Health & Safety, and Child/Youth Guidelines Safeguarding procedures fo be updated and publicised and staff training to review issues, particularly relating to the risks fo children relating to emotional and physical well being Good HR practices including appraisals, regular communication, personnel development, succession planning, identification of single points of failure and res ective contin enc lans. Stress on staff and key individuals., claims for damages,. impact on staff morale and reputation Failure of significant systems or equipment and failure to upgrade Commercial failure of lettings strategy Terrorism attack A significant reduction in the number of church members. Injury to personnel sustained through church andlor commercial activities. Harm or abuse to individual childlchildren andlor vulnerable adult (increasing number of children and youth) Key employees or volunteers leave Page 8 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Reserves policy The Reserves Policy of the Trustees is established so as lo maintain sufficient level of "free reserves" (unrestricted general funds not committed 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 set aside for emergencies. A review of the level of reserves is pending, considering the change in size and scope of the activities of the organisation Sin￿ the last review. The total reserves at 31 March 2024 were £2.922,483 (2023 £2.935,933) of which £2,775,916 (2023 2,628.528) relate to the General Fund. £96,001 (2023 £103.865) related to the subsidiary, £13,415 (2023 - £13,415) related to Designated Funds and £37,071 (2023 £28,775) related to Restricted Funds (though it is expected that these funds will be drawn down during the next financial year). The -free reserves" at 31 March 2024 were £349,939 (2023 - £499,156) which represents a surplus of £199,939 (2023 - £349,156) compared to the Reserves Policy. d) Principal funding The main source of Trust income was from tithes and offerings from church members and visitors, which, with the tax recoverable on these gifts, totalled £863,550 (2023 £832,239). This income enabled the Trust to operate according to its Objects. Bath Forum Ltd and Bath Box Office Ltd provided significant revenue from their trading activities totalling £1,588.406 (2023 - £1.540.051) Other income of £20,636 (2023 £7,191) arose mainly from charitable acttvities £17,235 {2023 £6,020), investment income £2,737 (2023 - £729). and olher income £664 (2023- £442). The net movement of funds during the year was an decrease of £13,450 compared with an increase in the previous year of £157,974. Investment policy The general approach of Ihe charity is to adopt a risk-free stance towards investment activities. Cash resenies are held in interest bearing bank deposit accounts. STRUCTURE. GOVERNANCE AND MANAGEMENT Constitution Bath Christian Trust is registered as a charitable company limited by guarantee and was set up by a memorandum of Association. The company has Members, and the Members elect additional Members andlor Trustees at the Annual General Meeting. The work of the Trust 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 to 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 Objects). Each year the policies are reviewed in order lo consider possible improvements to governance and management practices. Page 9 Docusign Envelope ID.. F81 E9ACF-5484456&BB7&DCC3775AOF21 BATH CHRISTIAN TRUST (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 The Forum is a grade 2. listed 1930's (ex