Charfty registration number 1091066 (England and Wales) Company reglstration number 04279837 THE SOUTHERN COUNTIES BAPTIST ASSOCIATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Caladine chartered Certified Accountants
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION LEGAL AND ADMINISTRATIVE INFORMATION Trusteos: MrAndrew Johnson Rev'd Christopher Brockway Rev'd Anthony Clarke Ms Emma Green Rev'd Martin Hardwidge Rev'd Clare Hooper Rev'd Jonathan Keyworth Rev'd Hayley Young Rev'd Matthew Huckle Ms Janet Quary Rev'd Christopher Walker Rev'd Andrew Perryman Revd David Ford Rev'd Dr Martln Hobgen Mr8 Ann Andrew8 Roglonal Mlnlsty Team: Rev'd Hayley Young Rev'd Clare Hoopèr Rev'd Stephen Barber Rev'd Simon Gray Rev'd James Thomas Reglonal Minister Co-Team Leader Regional Minister CtrTeam Leader, Chlldren. Youth & Famllies Regional Minister Regional Ministerloperations Lead (Interim Treasurer) Regional Minister, Mission Development Staff Team: Mrs Amy Allen Administration Manager Charlty numb•r 1091068 Company number 04279837 Regl8ternd offlce and Baptist Hou8e operational address 129 Broadway Didcot Oxford5hire OX118XD Independont examlner Colin Dadswell FCA FCCA DChA Caladine Limited Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF Bankers HSBC B8nk plc 6 High Street Abingdon Oxfordshire OX11 8RP
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION CONTENTS Pagè Trustee6' report ststement of Truslees, responsibilities Independent examineV8 report ststement of financlal actlvities 9-10 Statement of financial position 11 Staternent of cash tlows 12 Notes to the financial statements 13-29
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees, who are a150 direclors of the Association for the purposes of company law, are pleased to present their Annual report and financial statements of the charitsble company for the period 1 January 2020 to 31 December 2024, which are prepared to meet the requirements for a director's report and accounts for Companies Act purposes. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charty's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applic3ble to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK Republic of Ireland (FRS 102) (effective 1 January 2019)" Objectlve8 and actlvities The Southern Counties Baptist Assorialion (also known as SC8A) is a registered charity (number 1091068). It was incorporated as a private limited company on 31 August 2001 and is governed by Article5 and Memorandum of Association. The objective of the charilable cornp8ny is 'the advancement of the Christian faith espeaally by mean5 of and in ardance with the principles of the Baptist denomination, as set out for the time being, in the Declaration of Principle of the Baptist Union af Great Britain,. The Principal activities of the charitable company are the employmenl of Regional Ministers ar)d admini8tralive stsff team, with the involvement of a number of volunteers. working in group5 or individually, to offer support and guidance, training and financial resources to advance the Christian religion In a way which benefrts Baptist churches and the communities in which Ihey serve. The charitable company is part of the family of Baptist org8nis8tions seprfing the needs of many of the Baptist Churches in Greal Britain, working particularly closely with the Baptist Union of Great Britain and BMS Wodd Mission. Publlc beneflt The trustees, having regard to the Charity Commission's guidance document, 'public benefit.. running a charity (PB2)', continued to provide public benefit by seeking to advance the Christian religion and practice 'according to the principles of the Baptist denomination, and with the Objects of the charitable company. More detailed information about the activities and their success is provided in the °Achievements and Perfom18nc6" section of this reporL The tharitable company aims to.. Short4em7.' Cowoperate with churches directly and through working groups by passing approprlate iesolutions to enable building developmenl projects, Induding the provision of grants and loans, induding Sustainable Energy Funding. Many of these projects are directly aimed at making church buildings more accessible and available lo the local community. Assisl churche5 and ministers Ihal are seeking new mlnistries through the National Settlement process. Assist individua15 in exploring a call to any Baptist ministy by signposting various routes to recognised Baptist ministry, Interviewing candidales, supporting ministerial candidates and providing Baptist Union approved training for Recognised Loc31 Ministers. Encourage dialogue within churches or been churches and their local community. Encourage the SCBA Grant5 Committee as it continues to seek crealive ways of 5UPPOrting churches in their mission using Baptisl Home Mission, Pioneering and other Association funds. Receive and ojnsider reports from the SCBA Strategy Groups and the Regional Ministers. enabling charitable company to maintain effedive govemance.
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Long-t81m.' Make Safeguarding training available on a rolling programme, encouraging and enabling members of our churches to receive training at a reduced cost or free, and ensuring that ministers have completed Level 2 & 3 training. Ensure, through its Staff, Finance & Administration Group, responsible and effective stewardship of the resources of the charitable company. Encourage churches to support Baplist Home Mission and BMS Wodd Mission through prayer, direct partnership with mission personnel and financial gifts, so that the Gospel of Jesus Christ can continue to be shared in the UK and abroad. Support the stsff employed by the charitable company through the prDvision of appropriate training and support, and provision of clear and effective staffing and olher policies. Seek approprlate and timely advice on issues having a potents'ally wlde-ranging effect wlth a view to mitigating risk. The aim of our tharity is to inspire, ¢onnecl and resource healthy churches In relationshlp for God's mission and thls fulty reflects the purposes Ihe charity was Set up to further. The team and trustees sought to achieve these aims in a number of ways, primarily providing support to the churche5 and their ministers to enable them to advance the Christian religion by public worship and their objects but also including granting assistan to diurthes seeking to improve their premises, enuragIng churches to adopt robust safeguarding policies and practice, acting to provide help and support to churches seeking to ifnprove their own governance and holding the Regional Ministers accountable for their support for churches seeking to advance the Christi8D ligIon in their communities. The trustees review our aims, objectives and activitie5 each year through appraisals of the team and the work they have carried out. In doing this, not only are we able to ensure our aims, objectives and activities remain focussed, but also that the team are carrying out their roles to the best of thelr abilities. Significant activities of our Associalion Included.. Hosting events for ministers and leaders, induding a three-day conference, lo teach and to develop and deepen their relationship with God Providing Home Mission Grants to sustsin churches and organisations for misslon in their communities Providing support for our Association churches. ministers and leaders, including pastoral, safeguarding and financial support. Through different Association working groups, continuing to assess and develop the various aspects of our mission, induding finance, safeguarding and leadership development. Identsfying, partnering with and resourcing pioneer mission initiatives The Association's volunteers have roles either as trustees on the Steering and Strategy Group., OT 8s non-trustee members of one of the Association working groups. The Association also uses volunteers to carry out their safeguarding training sessions, who have been trained to fulfil this role. Achlevernents and performance The Assoaation is made up of 143 member churches of the Association, mainly located in Berkshire, Dorset, Hampshire, the Isle of Wight, Oxfordshire and Wiltshire. covering thirteen counties in total. The Regional Ministers gave regular input to individual churches about good practice, backed up by the resources of the Bapts'st Union, as well as being involved in conflict resolution when necessary.
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 For a number of years, the testing of the call to ministry has been carried out by a Ministerial Recognition Group formed as part of the South-wesl Partnership and was carried out with Ihe Assoaations. However this prO$S wa5 reviewed during the year and it was decided to Tun this as a single association {with representation from another), as this would increase the tlexibility and responsiveness of the process and save money for candidates. The Regional Ministers also oversee the development of ministers during their first three years of ministry. Six minister5 became Fully AGcr8dited Ministers and will be recognised at the Baptist Assembly in 2025, with ten Newly Accredited Ministers attending reflection sessions in February and September. The Regional Ministry Team spent the year making contact their allocated churches and ministtts, giving advice and support where needed, as well as attending churth meetings and leading or speaking at seNices, both online and in-person. They have continued to be in contact with all of the Association contacts through a monlhly email with up-tcdate information of what is happening both nationally and in the Association. At the November AGM, Rev. David Ford was appointed as Association Treasurer. The team and trustees continued to work on the Strategic Review carried out by Helen Cameron, and in particular the five strategic priorities.. clusters, mission development, pioneering, children, youth and families, and leaders development., and the two main en8bling priorities.. the reseNes policy and people strategy. In the summer of 2024, after month5 of prayerful discemmenl and carefvl consideralion of the team slrudure. the Trustees concluded that the roles of Mission Development Lead and part-time General Regional Minister would no longer continue. with the outcome being that Rev Steve Barber and Rev Jim Thomas will be leaving the regional team in 2025, Safeguarding Training continued throughout the year. The Safeguarding Tralning Is run across the Assoaation with a trained team of Safeguarding Trainers (all of whom are volunteers) in Ihe light of the national policies and procedures. In 2024, 637 ministers, leaders and church members of SCBA churches were trained in level 2 and level 3 safeguarding by SCBA safeguarding trainers. In the period 1 st January 2024 to 31 st December 2024, in addition to rn0 general questions, SCBA 5UPPOrted number of churches with safeguarding incidents. The continuing high number of contacts is anecdotaliy related to an inuease in safeguarding training provision, an ongoing raising of awareness of what matters and an increase In societsl stress. The Association Safeguarding Advisor, Keith Baldwin, left his role at the end cl October. Mthilst new advisor is appointed Jo Hayes, the Safeguarding Lead for the South-East Baptist Assoc4ation has been providing support and advice to SCBA Churches. Various events, training and meetlngs wère held throughout the year. 101 Mlnisters and Leaders attended our three-day in Cheltenham conference held in February, This examined Ihe theme af Covenant, with inpth from Rev. Lyn Green, Rev Chris Brockway, and Rev Anthony Clarke. The first day of the conference was an opportunity for a selection of our groups to meet up together, including the children, youth and family worker5, newly ac(xedited ministers, and chaplains. In June a leaders, day, was attended by 67 ministers and leaders, led by Rev. Jo Williams, reflecting on how as churthes we manage differences and handle conflict. In November, the leaders, day and AGM was attended by 74 leaders and ministers and was led by Dr. Helen Cameron, where the Project Violet requests for change were considered and churches were encouraged to refle¢X on their responses. The children, youth and families workers continued to meet in person in four different locations for support. The Association made a difference to its beneficiaries in tem)s of support, advice and training when requested or offered. The Home Mission Group and the Staff. Finance and Administration Group also considered and advised on the applications for Home Mission grants from six churches and three para-church organisations. The Association has also made eighteen grants to individuals for education and development. At the end of 2024, there were nine pioneers within SCBA. The ploneers were pastorally supported by an SCBA pioneering neiwork and represenled by a pioneering steering group. At the end of 2024 there were 50 Children. Youth and Families workers employed by churches wthin the Association. These CYF workers are supported by Rev Clare Hooper and the work of the CYF Steering Group.
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In reviewing the achievement5 and perfOrrnan of the Association during the reporling period, this has mainty been achieved through the number of ministers, leaders, members and churches who have interacled with the Association in some way, whether through events, Iraining. or meeting with the Regional Ministry Team. A number of positive and negative faclors. both within and outside the charrty's control, have affected achievements of it5 objectives. The continued employment of the Safeguarding Adviser has been an extremely positive fador. taking some of the pressure and work from the R8gional Ministry Team. The working groups continue to evolve so that the varied aspects of the Association's work are covered. The working groups are CUTrently'. Staff, Finance and Administration.. Children, Youth and Families,. Safeguarding,. Leadership and Ministerial Development,. Mission Development- Home Mission., and Pioneering. The Regional Team spend significant time engaging with local churthes. However, there are also Ihose churches who are difficult to contact, sometime5 because they do not wish to have contact with the Associaticffi and are very independent. The restriction of finance and resources will continue to have a negative impact on the objectives in the future of the Association and the way the objectives are fvlfilled. In regard to fvndraising actlvities, the Assocaation has a major responsibility for encouraging churches to donate fvnds to the Baptist Union Home Mission Appe81 but such encouragement is limited to drawing attention to the need and benefits durlng meetings and church visits, and on the SCBA website. The team has continued to be more proactive In thi8 and are looklng at producing more resources going foward. In 2024, Ihe giving by SCBA thurches slightly exceeded the target set for the Association by the Baptist Union although giving was down on 2023. The Association is not permitted to raise funds to meet its operational or administrative costs, other than to meet the expenses of events, such as training. However, the Assoaation does receive gifts for the Confidential Fund, estsblished to relive the hardship of ministers or spouses. A grant from the money raised for the Baptist Union Home Mission in 2023 was given to the Association to cover staff salaries and administrative costs in 2024, as well as to distribute to Home Mission grant reupients. This is the principal source of income to cover the operating costs of the Association. The Association did not use any material expenditure to raise income in the reporting period. Flnancial rnvlew During 2024 the overall funds of the Associalion decreased by £103,733 (2023.. an increase of £419,211). The Association had total funds at the year end of £2,681.793. The total fvnds were made up of unrestricted general funds of £2,263,420, designated funds of £19,688 and restricled funds of £398,685. Reserves policy and going concern The A850cialion maintains reserves of £450,000 which currently represent approximately 9 months full running costs. The trustees have recognised that, taking into account the size of the staff team, the Association will be running a deficit budget for a number of years which is likely to be with in the region of £135,000 a year unless additional funds accrue. The decision to reduce the Size of the regional team will from 2026 reduce this deficit. Given the existing level of unreslricted funds above and beyond that necessary io maintain the Association, reserves the trustees consider that th8 Association remains a going concern despite an excess of expenditure over income. The Association incurred financial costs on the majority of its events. In 2024, SCBA charged for the Minister, and Leaders, Conference and ihe Leaders, Days, but additional cosls induding the speakers fee and staff mileage were covered by the Association. The cost of providing the safeguarding training was covered by the charge to those attending. Assouation support, events and training also incur the c051s in Regional Ministry Team time and mileage. In regard to investment performance. fund5 not required for immediate purposes were deployed with the Baptist Union COoration Ltd, which employs an investment manager. The Baptist Union Trustees monitor investment performances through Iheir Finance and Audit Committee.
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The principal risk facing the Association is the current deficit budget. This has been fully identified by the trustees, through the Staff, Finan and Administration Group. The Association Irustees and Regional Ministry Team continue to meet to discuss the Stralegic Review and the way forward whilst working with a deficit budg8t. However, monies from dosed churches are currently covering the deficit to some extent but cannol be relied on lon*temi. The principal funding source to SCBA is from Home Mission giving from ourAssociation churches, either through SCBA or directly to the Baptist Union. This is pul into a 'shared pot, with the oth8r Associations n the Union, and SCBA then receive a percentage of the total amount. An increase in giving to the Home Mission fund from SCBA churthas may not directly result in an increased grant directly to SCBA. R18k management The Trustees have assessed the major risks to which the charity is exposed, and are satisfied systems are in place to mitigate exposure to the major risks. Plan8 for future periods During 2025, the charitable company will seek to continue to fulfil its objectives in creative ways that will 8SSlSt in the advancement of the Christian religion and the enrichment of church and community lrfe in the Soulhem Counties. The Regional Ministry Team wlll plan to keep Ihe regular activitles In place. These aclivities include.. the continuation of Safeguarding Training available to 911 thurches and communities., supporting the member thurches. both pastorally through the Regional Ministry Team, and for some, financially through grants: and hosting ministers, and leaders, events including a thretrday conference and the AGM. The Board of Trustees will continue to WO on the findings of the Strategic Review of the Association, particularly reviewing Ihe current deficit. Structure, governance and management The charitable company is governed by its Memorandum of Association and Artides of Association and Rules. The Objects of this charitable company are the advancement of the Christian religion especially by the means of and in accordance with the principles of the Baptist denomination as set out for the time being in the Declaration of Principle of The Baptisl Union of Greal Britain. The tharity is an Incorporaled Private Llmlted Company and Is constituted of a board of fifteen trustees, who are also the Company's Directors, induding the Moderator and the Treasurer, who oversee Ihe works of the tharity. The charity's members are the 140 churches within the Association, who have the rlght lo appoint trNO representatives to attend and to vote at the general meeting of the Association. The board of trustees consists of.. The Regional Ministry Co-Team Leaders The Moderator appointed by the members of the Assoriation The Treasurer appointed by the members of the Association A person appointed by Regent's Park College for such a term of office and in accordance with such procedures and rules as shall from time to time be decided by the College Twelve trustees appointed by the members of the Association (four trustees were appointed by vote at the AGM in November 2024) Up to six trustees can be co-opted onto the trustee board, three of which will be co-opted solely to enable the trustee board to positively represenl the age, sex and ethnic origin of the membership of the member churches. The Association Moderator heads the Associalion, supported by the board of the trustees indu(ling the Association Treasurer. The Regional Ministry CIFTeam Leaders are responsible for the team of three Regional Ministers and support staff.
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees, who are also the directors for the purpose of company law, and who served during thè year and up to the date of ssgnature of the fin8nclal statements were.. MrAndrew Johnson Rev'd Christopher Brockway Rev'd Anthony Clarke Mr Jason Collis Ms Emma Green Revd Martin Hardwidge Rerfd Clare Hooper Rev'd Jonathan Keyworth Rev'd Hayley Young Rev'd Matth8w Huckle M$ Janet Quary Rewd Christopher Walker Re¢d Andrew Perryman Revd David Ford Rev'd Dr Martin Hobgen Mrs Ann Andrews (Resigned 4 Novembef 20241 (Appointed 4 November 2024) (Appointed 4 November 2024) (Appointed 4 November 20241 (Appointed 4 November 20241 A structure of strategic and enabling groups is in place to support the various aspects cf th8 Association. These areas are.. Stsff Finance and Administration., Leadership and Ministerial Development,. Children, Youth and Families., Safeguarding., Pioneer Mission,. Mlssion Oevelopment., and Home Mission, In line with the Memorandum and Articles, the majority of th8 decisions made by the charity as a whole wi11 be made by the board of trustees, though on occasions, the other strategy groups or Reglonal Mlnistry Team will make decisions and inform the board of trustees of these decisions. Prospective trustees are advised of the qualifications for serving a5 charity trustee8 and dlrectors. They are invited to an informal discussion with the Moderator or Regional Ministry CcwTearn Leaders to discuss the appointment. On appointment they are provided wrth an oveNiew of the governing documents of instruments and activities of the charitsble company, along with the Assoclalion policies and past trustee meeting minute5. Trusl8es are invited to various training sessions host8d ty the Association or Baptist Union for its members, including Data Protection and Safeguarding. The Regional Ministry Team are paid a stipend which is in Ilne with the recommended stlpend by the Bapt Union plus a percentagè depending on their position in the team. Housing allowance and expenses are also paid on 8 monthly basis. Th8 r65t of the staff team are paid a salary, decided by the board of trustees, plus any out-of-pocket expenses. All volunteers within the Association are paid any oul-of-pocket expenses, particularly for travel to and from meeting and events. Key Management personnel remuneration.. the charitable company consider thelr key management personnel to be the charitable company s board of Iruslees. The pay and remunefation of the employees of the charitable is Set by the charitable cotllpany through the board of truste8s and its finance group and is based upon the Baptist Union recomrnended stipend. The charilable company 15 a member of the Baptist Union of Great Britain, paying a 5ubs¢riptlcn to this charity. Fund5 from the Home Mission fund, which is the principle working fund of the Union, are received by the charitable company and dispérsed by its Grants Group, as well as being used for the running of the Associalion. The Trustees, report was approved by the Board of Trustees. Revd David Ford Trustee Dated.. '22).1
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The TTUStee5, who are 8150 the direclors of The Southern Counties Baptist Association for the purpose of company law. are responsible for preparing the TTuslees' Report and the financial statements in accordan wilh appIlble law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Pradice). Company law requires the Trustees to prepare finanaal stalements for each financial year which give a true and fair Vl8w of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expendilure, of the charitable company for that year. In preparing these financial ststements, the Trustees are required to.. 5elecl suitable accounting poliaes and then apply them o)nsistently', - observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Sland8rds have been followed. subject to any Material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concem basls unless it is Inappropriate to presurr£ that the tharity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disdose wth reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial 6tstements comply wilh the Cornpanies Act 2006. They 8re also responsible for safeguarding the asset5 of the charity and hence for taklng reasonable steps for the prevention and detection of fraud and other irregularlties.
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SOUTHERN COUNTIES BAPTIST ASSOCIATION I report to the TNstees on my examinatlon of th8 financial statements of The Southem Counties Baptlst A88ociatic (the charity) for the year ended 31 lknmber 2024. Re8ponslbllltles and basls of roport As the Truste8s of the charity {and a180 its dlrector8 for th8 PUIP0888 of COTrp8ny law), you are résponslble for the preparation of the financlal statements In accordance w6th the requir6ment8 of the Companie6 Acl 2008. HavSng satisfied myself that the financial staternents of the charlty are not requlred to be aUdIt under Part 16 of the Conipani8s Act 2008 and are eliglble for independent examination, I report in reBpecl of my 8xamination of the charty's finandal 8taternnt8 carr18d out under sedlon 145 of the Charltle5 Acl 2011. In carrying out my 8xaminatlon I have followed the Dlrectlon8 by thè Charity Comm1881on under 8aCtion 146(5)(b) of the Gharitias Act 2011. Independont examlnorf8 Itatoment Since the charrty's gross income exceeded £200,000, the independent 8xaminer mu8t be a mernber of a body li8ted In sectlon 145 of the Charftle8 Act 2011. 1 conflrm that l am qualifled to undertake tha examination becau8&1 am member of The A88ocialion of Chartered Certifi8d Accountant8, whiGh is one of the listed bodles, I have compl8t8d my examinallon. I confim that no matterB hav8 Corn8 to my attention In connectlon wlth th8 exarninallon glvlng me cause to belleve that In any materlal respect: accounting records were not kept In respect of the charty a8 wuired by 8ectlon 386 of the Companles AGt 2006. the flnancial StateEntS do not accord wlth thos8 records., or th8 financial stat8m8nts do not comply with the accountlng requlrements of 8ection 398 of the Compan188 Act 20C6 other than any requirement thai the financlal 8tatem8nts glve a tNe and falr view, which is nd a matter considered as part of an Independent 8xamlnation,' or the financial sialements have not been prepar8d In aCCdanCe with tho method8 and principleB of the Statement of Recommended Practice for accounting and reportlng by ch8rille8 applkable to chafitles preparing thelr flnanclal stat8monts in accordance wtth the Financlal ReportSng Standard apkllcablè in the UK and Republic of Iraland IFRS 102). I have no concem8 and have come across no other matl8r8 in connectlon wh tha examlnation to whSch attentlon Should b6 drawn in thls réport In order to enable a proper understanding of th8 financial statemt8 to be r8ach•d, Colln Dadswell FCA FCCA DChA Cal&dine Llmrted Chantry House 22 Upp8rton Roa Eestboume E88l Sussex BN211BF Date.. 0210612025
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Current flnanclal year Unrestrlcted Unrestrlctsd funds funds general deslgnated 2024 2024 Restrictod fund* Total Total 2024 2024 2023 Notes Income and endowments from: Donations and legaaes Charitable activities Investments Other income 899 285,052 54,556 121,233 5,050 5,949 285,052 54,556 121,233 13,903 252,451 32,835 649,254 Total Income 461,740 5,050 466,790 948,443 Expèndlturn on.. Charitable actlvltl8S 535,854 30,410 4,259 570.523 618,786 Total oxpendltur• 535,854 30,410 4,269 570,523 618,786 Net gains1(losse8) on investments 11 89,554 Net Incomell•xpendltur•) (74,114) (30,410) 791 (103,733) 419,211 Transfers between funds 20 (25,740) 25,020 720 Net movement In funds (99,854) (5,390) 1,511 (103,733) 419,211 Reconclllation of fund¥: Fund balances at 1 January 2024 2,363,274 25,078 397,174 2,785,528 2,366,315 Fund balance8 at 31 December 2024 2,263,420 19,688 398,685 2,681,793 2.785,526 The statement of financial adivities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Prlor financlal year Unrestrlthd Unrestrlcted funds funds general deslgnated 2023 2023 Restrlcted funds Total 2023 2023 Notos Income and endowments from: Donations and legacies Charitable actiwlies Investments other income 4,186 252,451 32,835 840,835 6,651 3,068 13,903 252,451 32,835 649,254 8,419 Total income 930.307 6,651 11,485 948,443 Expendlture on: Charitable activities 553,783 57,626 7,397 618,786 Total expendliure 553,763 57,626 7,397 618,788 Net gainsloosses) on investments 11 89,554 89,554 Net Incomellexpondlture} 466,098 (50,9751 4,088 419,211 Transfer8 between fijnds 20 (65,127) <24,941) 90,068 Net movement In funds 400,971 (75,918) 94,158 419,211 Reconciliatlon of fund8: Fund balances at 1 January 2023 1,962,303 100,994 303,018 2,366,315 Fund balanc•8 at 31 December 2023 2.363,274 25,078 397,174 2,785,526 10-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Property, plant and equipment Investments 14 15 1,411,201 12.020 943,B50 12,020 1,423,221 955.870 Current assot8 Debtors falling due after one year Debtors falling due within one year Cash at bank and in hand 16 16 94,550 30,559 1,199,055 139,965 36,160 1,703,117 1,324.164 (65,5921 1.879,242 (49,586) Current Ilabllltles 17 Net current assets 1,258,572 1,829,656 Totsl assèts less curront liabllltles 2,681,793 2,785,526 The lunds of the charity Restricted income funds Unrestri¢led funds - general Unrestricted funds - designated 20 398,685 2,263,420 19,688 397,174 2,363,274 25,078 21 2,681,793 2.785,526 The company 18 entitled to the exemption from the audit requirement contained in section 477 of the Companiès Act 2006, for the year ended 31 December 2024. The directors acknowledge their responsibil'rties for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not reqUId the company to obtaln an audlt of Its financial statementE for the y88r in question In accordance with section 476. These financial statements have been prepared in accordance with the provision$ applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 0210612025 Revd David Ford Trustee Cornpany registration number 04279837 (England and Wales) 11
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flo• from operatlng actlvitie• Cash (absorbed by)Igenerated from operations 26 (83,340) 334,331 Inve8tlng actlvltles Purchase of property, plant and equipment Proceeds from disposal of property, plant and equipment Proceeds from disposal of investment property Investment income received (475,278) (449,979) 347,936 541,305 32,835 54.556 Net cash (u8•d In)Igen•rated fr¢m Inv•8tlng a¢tlvltle8 (420,722) 472,097 Flnanclng actlvltl•8 Repayment of borrowings (50,000) Net cash used In flnanclng activitle• (50,000) Nèt (docreaselllncrea8• In Ga8h and ca8h equivalènts (504,062) 756,428 Cash and cash equiva18nts at beginning of year 1,703,117 946,689 Cash and Msh equlvalent• •t •nd of yoar 1,199,055 1,703,117 12-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcie8 Company Information The Southem Counties Baptist Assoaation is a private company limited by guarantee incorporated in England and Wale5. The registered office is Baptist House, 129 Broadway, Didcot, Oxfordshire, OX118XD. 1.1 Accountlng conventlon The finanaal statements have been prepared in accordance with the charity's Memorandum and Article5 of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recomrnended practi applicable to charities preparing their 8ccounts in accordance with the FinancHI Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The charity is a Public Benefit Entity as defined by FRS 102. Th8 financial statements are prepared in sterling, which is the functional currency of the charty. Monetary amounts in these financial stslements are rounded to the nearest £. The financial stat8mènts have been prepared under the hi8torl¢al Cost convention, The prinapal accountlng policies adopted are set out below. 1.2 Golng concorn At the time of approvlng the financial slatements, the Trustees h8ve a reasonable expectation that the charity has adequate resources to continue in operational existen for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the finandal statements. 1.3 Charltoblo fund8 Unrestricted funds - represent those funds which can be used in accordance with the Association's charitable objects at the discretion of the TTUStees. Designated fund8 represent those funds set aside by the trustees out of unrestrlded general funds for specific fvture purposes or projects. Restrlcted fund - can only be used for a particular restricted purpose within the charitable objeds. Restrictions 8rise when 5peafied by the donor or when fund5 are raised for partiGular restricted purposes. 1.4 Income In¢om8 is recognised in the Statement of Financial Activities when the Charitable Company has entitlement to the funds., any perforrnance conditions attached to the item(s) of income have been met., it is probable that the income will be received., and that the amount can be measured reliably. Donations are accounted for gross when received. Grants receivable are accounted for in the year in which they are receivable. Investment income is included in Ihe financial statements in the year in which it is receivable. Event and Conference fees are accounted for in the period the event was held 13-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcies (Continued) 1.5 Expendlture Expenditure is recognised in the Statemenl of Financial Activitie5 once there is a legal conslruclive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities represents expenditure in the furtherance of the object of the Association Grants payable are agreed on an annual basis and accounted for in the year in whith they are committed Irrecoverable VAT is charged as a cost against the activty for which the expenditure was incurred. Expenditure under £2,000 on office fumiture and computer equipment is written off as incurred. Expenditure over £2,000 on a single item will be written off over 4 years. Support costs are those that asslst the work of the association but do not directly repr888nt the charhtsble activities and Indude governance costs. Governance costs comprise all costs involving the public accountability of the association and its compliance with regulation and good practice. These costs include costs relating to the statutory accounts and independent examination. Support Costs have been 1 OOO/o allocated to the charitable activity. 1.6 Property, plant and equlprnent Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depredatlon is recognised so as to write off the st or valuation of assets less thelr residual value8 over their usefvl lives on the following basis.. Freehold land and buildings Freehold Land - Nil, Freehold 8uildings - Over 30 years Depreciation of buildings is based on an antiupated useful lrfe of 30 years with a residual value equal to Iwo thirds of the original cost. The gain or loss arising on the disposal of an asset is determined as the difference belMeen the sale proedS and the carrying value of the as58t, and is recognised in net incomellexpenditure) for the year. No depreciation is provided in the year of acquisltion. 1.7 Non-current Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairnient of non-current assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication thal those assets have suffered an impairment loss. If any such IndatIOn exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 14-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Icontlnued) 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investrnents with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabililies. 1.10 Flnanclal Instruments The charity only ha5 financial assets and liabilities of a kind that qU81ify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at thesr settlement value. Debtors Loans are considered concessionary loans as they are made by the charity to further its purposes. Loans are initially measured at the amounl paid, with the carrying amount adjusted subsequently to refiect repayments. There is no interest charged on the loan amounts. Where any loan made is considered to be irrecoverable an Impaimient loss is recognised. other debtor8 are recognised at the settlement amount due. Credltorn Creditors ara recogniBed where Ihe assoaation has a pr8sent obligation resutting from a past èvent that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Accruals and other creditors are recognised at their settlement amount due. Provl8lon8 for Ilabllltle8 A liability for the agreed pension scheme deficit plan has been induded, in accordance with the Baptist Union Staff Pension Scheme Schedule of Contributions dated 18 December 2018. 1.11 Taxatlon The charitable Company is considered lo pass the te8ts set out In Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly. the charity 15 polentlglly exempt from taxgtion in respect of incorne or capital gains received within categories covered by Chapler 3 Part11 Corporalion 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 purposes. 1.12 Employee benefits The cost of any unused holiday entitlement is recogni5ed in the period in which the employee's services are reived. Termination benefits are recognised immediately as an expense vthen the charity 15 demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retirement benefits Deflned contribution penslon plans The Association operates a defined contribulion plan for its employees. A defined contribution plan is a pension plan under which the charty pays fixed contribuiion5 into a separate entily. Once the contributions have been paid the charity has no further payments obligations. The contributioris are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the chaiity in an independently administered fund. 15-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Judgements and key 8ource8 of gstlmation uncertalnty Estimates and judgements are continualy 8valuated and are based on hi5tori¢al experience and othv factors, including expectation5 of future events that are believed to be reasonable under the circumstances. Judgements in applying the entity's accounting policies Accounting estimates and assumptions Recoverability of loans The recoverability of loans are assessed annualty, and at the balance sheet date provisions for doubtful debts are provided based on prior year experiences. 16-
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THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from charitabl8 actlvitle5 Unrestrlcted Unrestrlcted fundg funds 2024 2023 Charftable actlvltles Preaching and other fee8 SCBA leaders days and event fees SCBA minister conference fees BU grant for operational activities Children, youth and family (including safeguarding training) Other income 3,380 562 20,235 253,829 7,046 4,574 1,500 19,792 216,689 9,680 216 285,052 252,451 Income from invo•tments Unrgstrlcted Unrestrlctsd fund4 funds 2024 2023 Rental income Interest receivable on loans and cash deposits Baptist Insurance dividends 4.909 27,525 401 54,155 401 54,558 32,835 other Incorn• Unre8trlcted Restricted funds funds 2024 2024 Totsl Unrostrictsd Restrlctod fund8 funds 2023 2023 Total 2024 2023 Net gain on disposal of tsngible fixed assets Closure of redundant thurches 8,419 8,419 121,233 121,233 640,835 640,835 121.233 121,233 640,835 640,835 18-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on Gharftable activities Charltable actlvltles Charitable activities 2024 2023 Dlrect costs Staff costs Deprec48tion and impaimient Travel and accomodation Training, leaders days and SCBA event Costs SCBA ministers conference Confidential fund CYF working group Pioneer mission fund costB 326,260 7,927 32,855 11,200 17,949 3,191 5,759 11,600 343.012 32.105 13,461 29,947 3,158 2,421 12,729 418,741 441,827 Grant fundlng of adivities {see note 8) 111,786 135.301 Share of support and governonce costs (See note 9 Support Governance 31,722 10,274 33,266 8,392 570,523 618.786 An•ly•l• by fund Unrestrlcted funds - general Unrestricted funds - designated Restricted funds 535,854 30,410 4,259 553,763 57,828 7,397 570,523 618,786 19-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Grants payable Charitabl? actlvitie• 2024 Charitable activities 2023 Grants to institutions.. Home Mission grants Churches Together Church of the year Regents Park College Wami spaces grant Educational and sabbatical grants Mission grants Pastoral 9ifts 92,109 2.460 3,089 4,000 118.565 2,460 4,176 6,100 4,000 6,670 2,000 1,458 111,786 135,301 Support costs allocated to •ctlvltles 2024 2023 Office costs (including IT and t81ephone) Trustee and volunteer expenses staff book & study allowance Insurance Building hire Baptist Union subscription Communications team and other costs Governan costs 5,437 2,562 4,940 6,656 3,500 878 7,749 10,274 3.757 4,470 3,490 4,790 3,500 871 12.388 8,392 41,996 41,858 se Charitable activities 41,996 41.658 2024 2023 Govemance costs comprl•e: Legal and professional Accountsncy & IE Bank charges Software and other subscriptions Payroll fees 3,188 4,260 677 996 1,153 1,759 4,140 521 845 1.127 10,274 8.392 -20-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Trustee$ Trustee Rev'd C Hooper and Trustee Rev'd H Young are employees of the charity as Regional Ministry Co- Team Leaders. Revd C Hooper was paid a salary of £42,900 (2023: £27,375), a housing allowance of £15,000 (2023.. £7,500) and benefitted from employer p8nsion contributions totalling £5,432 (2023.. £2,522). Rerfd H Young was paid a salgry of £42,900 (2023: £27,375), a housing allowance of £5,000 (2023.. £7,500) and benefitted from employer pension contributions totalling £5,432 {2023'. £2,522). From May 2024 omvards living accDmmodation was provided. Please note that the 2023 comparative figures for salaries, housing allowance and pension contributions are for the 6 month period from July to December 2023 as both Rev'd Hooper and R8v'd Young only became trustees part way Ihrough the year. The authIlY to employee trustees Is contsined wlthln the charty's governlng documenl. During the year six trustees were reimbursed a total of £946 for travel and other expenses (2023.. ten trustees were reimbursed a total of £2,896). 11 Gaino •nd1058e¥ on Inve8tm•nt• Unregtrlctsd Unrestrlcted funds fund8 2024 2023 Gainsl(Ios8e8) arising on.. Sale of investment properties 89.554 12 Taxatlon The charlty Is exempt from tsxatlon on its activities because all its income Is applied for charltable purposes. 21
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Employees Number of èmployees The average monthly number of employees during the year was: 2024 Numbor 2023 Number Regional Ministers (full-lirne) Regional Ministers (part.tim8) Administrator (full-lime) Admin 8SSlStants (part-tlme) Pioneer Missioner (part-time) Employment co8tB 2024 2023 Wages and salaries Social security costs Other pension costs Housing costs 211,575 16,403 28,046 72,236 218,068 15,568 22,764 88,612 326,280 343,012 There were no employees whose annual remuneration was £80,000 or more. 14 Propertyi plant and equlpm•nt Fre•hold l#nd and bulldlng• Cost At 1 January 2024 Addition$ 951,631 475.278 At 31 De¢emb8r 2024 1,426,909 Depreclation and Impalrniont At 1 January 2024 Depreciation charged in the year 7,781 7.927 At 31 December 2024 15,708 Carrying amount At 31 December 2024 1,411,201 At 31 December 2023 943.850
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Flxed asset Investments Add Investments 1 Cost or valuatlon At 1 January 2024 & 31 December 2024 12,020 Carrylng amount At 31 December 2024 12,020 At 31 December 2023 12,020 There are no investments held outside the UK. The equity investment relates to 2,404 ordinary £5 shares held in Baptist Insurance Company PLC (registered company number 00083597>, 8 public compeny limited by shares. As these shares are not actively traded through Stock Markets, no Market Value can be obtained, resulting In the shares being valued at original wst. 16 Trade and other recelvabl•• 2024 2023 Amounts falllng due wlthin one year: Loans to churches other receivables Prepayments and acuued incom8 14,500 1,423 14,838 21,052 4,194 10,914 30,559 36,160 2024 2023 Amounts falllng due after more than one y••r: Loans to churches 94,550 139,965 Total debtorn 125,109 176,125 As at 31 D8rnber 2024 total loans to churches amounted to £108,851 (2023: £181,017). No new loans were advanced to churches during the year. 17 Current Ilabilities 2024 2023 Notss Defeed income Other payables Accruals and defeed incorne 18 22,478 38,914 4.200 7,718 37,628 4.240 65,592 49,586 -23-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Deferred Income 2024 2023 other deferred income 22,478 7,718 Deferred income is included in the financial staternents as fol¢)ws= 2024 2023 Deferred income is included wrthin: Current liabilities 22,478 7.718 Movements in the year,. Deferred income at 1 January 2024 Released from previous periods Resources deferred In the year 7.718 <7,718) 22,478 5,795 (5,795) 7,718 Deferred income at 31 December 2024 22,478 7.718 Deferred income relates to payments received during the year for the Minister and Leaders conferen which takes place in the next year. 19 Retlrament benefit •chemas 2024 2023 D•fln•d contrlbutlon •ch•mes Charge to profit or1058 In resped of defined contrlbution schemes 28,048 22.764 The charity operates a defined contribution pension Scheme for all qualifying employees. The assets of the scheme are held separately from thos8 of the charity in an independently administered fund. -24-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Restricted funds The restricted funds of the tharity comprise the unexp8nded balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 January 2024 Incoming Resources resource¥ expended Transfers At31 December 2024 Confidential Fund Church of the Year Hlll Street, Poole Propety 450 4,600 (1,170) (3,089) 720 2.152 395,022 3,663 395,022 397,174 5,050 (4,259) 720 398,685 Prevlous year: At 1 January 2023 Incoming Re60urce• resources expended Tran•fers At31 December 2023 Confidential Fund Church of the Year Hill Street, Poole Property 200 2,866 8,419 <1,0141 (4,178) <2,207) 814 3,462 299,556 2,152 395,022 89,254 303,018 11,485 (7,397) 90,068 397,174 Confldentlal fund is to be used to support those in need in churches vthich were part of the foTmer OEGBA. Church of the Year fund receives donation8 from thurches and distributes them to the annually nominatèd Church of the Year within the assouation. Hlll Street, Poole Property represents the net book value of a propety passed to SCBA when the Churth cated at Hill Street, Poole, Dorset closed. The Church directed that thé property should be used to facilitate pioneer mission in Hamworthy and thus has restricted use. During 2023 the origln81 property was sobj and replacernent purchased. The propety is used to hous8 a mission famlly currently undertaklng this work. -25-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Unrestricted funds . designated These are unrestricted funds which are material to the charitys activities. At 1 January 2024 Incoming resources Resources expended Tran3fers At31 December 2024 Education & sabbatical grants Abraham Trust (Confidentiall Pioneer rnission funds 13,878 11,200 (4,670) 9,208 10,480 (720) 25,740 (25,740) 25,078 (30,410) 25,020 19,688 Prevlous y•ar: At 1 January 2023 Incomlng Rosourco• rnsources exponded Transfer8 At31 December 2023 Education & sabbatlcal grants Abraham Trust (Confidential) Pension fund defIt reseNe Pioneer mission funds 17,878 11,200 71,916 (4,0001 13,878 11,200 171,916) 46,975 6,651 (53,828) 100,994 6,651 {57,626) (24,941) 25,078 Abraham Trust {ConfidentSal) fund Is to be used to support those In need in churches which were part of the former OEGBA. Funds were Iransferred out in the year to cover the deficit on the Confidential restricted fund. Educatlonal and sabbatlcal grants fund represents amounts set aside to support Indlviduals from member churches through sabbaticals and participation in other educational opportunities relating to Christian seNice or ministry. Ploneer misslon is a fund desi9nated to 5UPPOrt new and exciting ways of mission across the association. In conjunction with the appoinlment of a regional minister. -26-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 22 Unrestricted fund3 The unrestricted funds of the charily comprise the unexpended balances of donations and grants which are not Subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have béen set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incomlng Resources resources exponded Tran8fer• G•lns and losges At31 December 2024 Bl investment Loan funds General funds 12,020 636,215 1,715.039 12,020 636,215 1,615,185 461,740 (535,854) (25,740) 2,363,274 461,740 (535,854) (25,740) 2,263,420 Prevlou• y••r: At 1 January 2023 Incomlng Resource8 rnsources expended Transfor• Gain8 and losse8 At31 December 2023 Bl investment Loan funds General funds 12,020 636,215 1,314,068 12,020 636,215 1,768,804 930,307 (499,998) {65,12n 89,554 1,962,303 930,307 (499,998) (65,127) 89,554 2,417,039 G•nèral fund8 are held to SUPPOrt ongoing activities of the company. Bl Investment is a fund for the Investment in the Baptist Insurance company. Loan funds are held to enable loans to be made to member churches to 5UPPOrt projects, typicaly building projects. This fund includes the Alden Memorial fund. -27-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Analysis of net assets between funds Unrestrlcted Unrestrlctsd funds funds general designated 2024 2024 Restrictsd funds Total 2024 2024 Fund balances at 31 Decèmber 2024 are rnpre8ented by: Property, plant and equipment 1,016,179 Investments 12,020 Current asset81(liabilities) 1,235,221 395,022 1,411,201 12,020 1,258,572 19,688 3,663 2,263,420 19,688 398,685 2,681,793 Unrestrfcted Unrestrlcted funds funds general deslgnated 2023 2023 Ra8trlctod fund8 Total 2023 2023 Fund balance¥ •t 31 December 2023 ar• ropre8ented by: Property, plant end equipment 546,676 Investments 12,020 Current assetsl(liabilitie81 1,804,578 397,174 943,850 12.020 1,829,656 25,078 2,363,274 25,078 397,174 2.785,528 24 Hom• Ml88lon Givlng The arrangements for making Home Mission Gifts from churthes to the Baptist Union were changed during 2005. A new joint account, SCBAJBaptls1 Union, was set up so that churches and the SCBA can transfer their gifts to this account. but only the Baptist Union has authority to withdraw funds. As the SCBA is not beneficially entitled to retain any of the monies given by the thurche5 for Home Mission, these gifts are transferred directly to the Baptist Union and do not need to be induded in the SCBA'S Statement of Financial Aclivities. Giving to Home Mission by churches and groups within the SCBA area was £330,593 (2023: £341,908). 25 Relatsd party transactions Transactions with the trustees are disdosed in note 10. There were no other disclosable related paty transactions during the year (2023 - none). -28-
THE SOUTHERN COUNTIES BAPTIST ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 26 Cash (absorbed by)Igenerated from operatlons 2024 2023 (Deficit)Isurplus for the year (103.733) 419.211 Adjustments for: Investfflent income recognlsed in statement of financial activities Gain on disposal of property, plant and equipmenl Gain on disposal of investment property Depreciation and Impaiment of propety, plant and equipment (54,556) (32,835) (8,419) (89,554) 4,994 7,927 Movemonts In worklng capltal: Decrease in trade and other recelvables Incyease in trade and other payables Increase In deferred income 51,016 1,246 14,760 37,885 1,126 1.923 Ca8h (abgorbed by)Igenerated from op•ratlon8 (83,340) 334,331 27 Analy818 of changos In not funds The diarity had no material debt during the year. -29-