Norwich Central Baptist Church Trustee's Report and Financial Statements For the Year Ended 31st March 2024 Tell: 01603 760497 Email.. office@norwichcentral.org Website.. www.norwichcentral.or Norwich Central Baptist Church is registered with the Charity Commission Registration number 1126847
Nonmich Central Baptist Church Trustee's Report and Financial Statements Year Ended 31$t March 2024 Content$ Page Charity Information Trustee's Annual Report 2to6 Independent Auditorfs Report to the Tru5tee5 7t08 Statement of Financial Activities Balance Sheet io Notes to the Financial Ststements Ilto16
Norwich Central Baptist Church Charity Information Year Ended 31" March 2024 Trustees Tom Madders (Minister) Paulo Mussi IMinister- PortUEue5e speaking church) Elizabeth Kilpatrick Ichu rch Secretary) Steve Genders (Treasurer) Tristan Baldry (resigned Nov 20231 Evette Sharpe (resigned Nov 20231 Rob Evans Jenny Hunt Martyn Davey Suzanne loy Broom lappointed Nov 20231 Ed Knight (appointed May 20241 Dave Newell lappolnted May 20241 Property Trustees The 8aptist L)nion Corporation Limited Baptist House 129 Broadway Didcot Oxfordshire OXII 8RT Bankers Barclays Bank St Stephens Branch. Norwich CAF Bank luntil February 20241 25 Kings Hill Avenue West Malling Kerbt ME19 4JQ Charity Registered Number 1126847 Principal Office Norwich Central Baptist Church Duke Street Norwich Norfolk NR3 3AP Independent Audltor Annatrlce Limited, Statutory Auditor 10, The Thoroughfare Harleston Norfolk IP20 9AX
NonpAch Central Baptist Chur¢h Trustee's Annual Report Year Ended 31° March 2024 The Twstees presents its annual report together with the financial statements of Norwich Central Baptlst Church Ithe charltyl for the year ended 31st March 2024. The financial statements comply with the Charities Act 2011 and the Statement of Recommended Practi¢e-. "Accounting and Reporting by Charlties" IFRS 1021. The report takes account of the requlrement for Trustees to report annually on public benefit and the Trustees have had regard to the Charity Commisslon's guidance on publlc benefit. Struclure, governance and management Trustees The trustees who Served through the financial year are listed on page I Icharity Information) Constitution The Trustees are responsible for keeping accountlng records which dixlose with reasonable accuracy the financial p051tion of the charity and whlch enable it to ensLtre that the financial statements comply with Charltles Act 2011. They are also fesponslble for safeguarding the assets of the charity and hence for taklng reasonable steps forthe prevention and detettlon of fraud and other irregularities. The Governing Document is the'constitutlon for Norwich Central Baptlst Church. October 2008". Method of A nt or Elettlon of Tr The Charrty Trustees, whlch include the Minlster, Church Secretary and Treasurer, who are collectively known as the Leadership, are appointed at Members Meetings. They are responslble for the day to day management arbd oversEht of the Church's operations, togetherwlth the financial and legal aspects of the Charity. With the exception of the Minister, Trustees can be elected for an Inltlal period of up to four years, after which they are eligible for re*lectlon for one further term of four years. They are then required to step down for at least one year, before belng ellgible for reappointment. Church Membership is open to those who: accept the Beliefs of the Church; meet the Churth's qualification on Baptlsm- tommlt themselves to serving Christ within the Church and beyond,. • ablde by the decisions of the Church Members, Meeting; acknowledge their responsibilities as Church Members- have their membership appllcation accepted by the Church Members, Meeting nisational Structure a ision Makl Ordinary Members Meetings normally take place flve times per year and they have the responsiblllty for the overall policy of the church. These are an opportunity to consider and review matters assoclated wlth the life of the Church, including issues related to churth membership, the appolntment of the CharFty Trustees, the approval of the budget and with opportunlties for Considerlng proposals from the Charity Trustees or other Church Members for the development of the Church and the advancement of Its Purpose through Its Activities. Though the Constitution permits decisions to be made at Church meetings by appropriate majorlties, the Church seeks to work by consensus wherever possible. Related Pa Rela nshi Related party relationships are lim¢ted to those between the Charity and The Baptlst Unlon. Risk Mana ement The Trustees has considered the rlsks the Charity faces and has concluded that there are no major rlsks atthis time. A review of risks is made on a regular bas1$.
Norwich Central Baptist Church Trustee's Annual Report (continued) Year Ended 31" March 2024 Objectlves and Actlvlties Pollcles and Ob. ctives The principal purpose of the Church is the advancement of the Christian falth according to the prSnclples of the Baptist denomination.The Church may also advance educatton and carry out other charitable purposes in the United Kingdom and/or other parts of the world. Our Vlslon is To Knowjesus and to Make Jesus Known and the following Culture Statements are some of the things that are important to us. 8elng Blble based ond Prayerfocussed - We love dynamic Bible teaching that is relevant for everyday life. Prayer chan8es the wodd - praise, confession and intercession needs to be at the heart of all that we do. 8eiTng Spirit-led wor5hippets- We are blessed that as Christians we don't have to live in our own strength. We have the gift of the Holy Spirit to equip us and guide us as we seekto faithtully follow Christ. We encourage people to explore the rich and varled glfts of the Spirit, includlng prophecyi healln& speaklng in tongues. In corporate worship we see ourselves as a family church with a mix of people in terms of age, race and background. we seek to embrace the best of both tradltlonal and contsmporary styles. Sharlng Ie-There are many amazing people who come to the church who have experienced God in lots of different ways. Getting to know others, developing friendshlps, dlscoverlng a place where we are accepted and it is safe to be ourselves. is important. We have to make time for this so we encourage people to spend time with others outside of Sunday services. Servlnq- We are privileged that God has given each of us gifts and therefore we have somethlng to offer back to God. We aim to help people discover how they can best serve God and each other. Sharlngfvlth- We believe the best of Ilfe comes through knowing Jesus, so we wlll share our faith in words and attion. We don't exist just for those who already come to church but want to give others the opportunity to experience His love. Each person is special to God and we should make each person fee5 special and that they can belong to our church family. Community committed- We are located in a partlcular communlty. We will seek to bring a positive impact to those that live and work around us through our vibrancy and Eove for our neighbours. 8eing Kingdom inspired - We experience a 'holy disconteny that leads us to work towards Kingdom values. This includes supporting Christian missionaries Publlc Benefit The church has read the Charity Commission guidance on public benefit and is satisfied that the activities outlined in this document clearly demonstrate that the charity is providing a benefit to the public. Activsties In order to achieve the principal objective, whlch Is set out above, the Church provides a variety of artlvities both for it5 membership and for the community generally. Our alm Is to show the love of Jesus Chrlst In both word and deed. Central to the work and witness of the Church is the provision of regular public services of Christian worship. Post covid restrictions, we continue to stream the Sunday English Speaking servi and our Portuguese Speaking Service via You Tube. January we held a special service to celebrate the 5 year anniversary of the Portuguese Speaking Church. We employ a Children's and Community worker who work5 With local schools and arranges the children'5 Quest groups that meet during the Sunday morning Services. We employ a Youth worker whose primary focus, currentlyi is teathing and caring for the youth that attend church seNices. Open the Book assemblies at local schools ran most weeks for the whole year. Café Tots on Wednesday mornir¢gs which is very well attended. In Ortober there was a 'Light' Party for the primary school aged children in local community.
Nonwich Central Baptlst Church Trustee's Annual Report {continued) Year Ended 31" March 2024 We hold Messy Church every couple of months on a Saturday, attractlng people from church and local communitles The Church firmly believes in the power of prayer and it Is fundamental to our faith and church Ilfe. Prayer is part of many of our artivities and we have a monthly Prayer Evening called 'Encounter.' Members and the community can request prayer in many ways- we have a text number, email address. phone number and a prayer box within the church where requests can be made. In February we held a Special Prayer Evening forthe situation in Ukraine. The Church runs a number of small contart groups which meet regularty and operate as disciple-rnaking, pastorally caring small groups. Additional support is also available and provided by the Church's Pastoral ca Team NCBC acts as Foodbank Distribution Centre and our Café Tots and Stsy and Play Groups for pre-school children welcome visitors once again. In May, July, August, October and February we delivered food parlS to local families who struggle to provide food for their children in the 5chi)ol holidays. This initiative was 5UPPOrted by the Norwich Foodbank. Our properties are also used by a number of local Community organlsatlons who work with vulnerable people and we alm to demonstrate Christ's love for each person in all our dealings with thern. These include Alcoholic Anonymous Narcotics Anonymous Overeaters Anonymous The drug and altohol rehabilitation centre, Hebron Trust who use Chapel House as a home for women who have been through the 12 step recovery programme, as a 'move-on' home to help women Integrate back into life, whilst they provide life skllls help and support. (the formal relationship ended In June 2023 as we repurpose the house as a manse for our Minister Paulo I Clarlon Housing- 2 days a week for ad hoc meetlngs plus monthly trainlng courses coverlng food hygiene, first aid & Engllsh Skills. 4Cs (Centre for Christian Care and Counsellingl Thls is a charity Staffed by both male and female qualified counsellors who work on a voluntary basis and offer compassionate. client-centred counselling to Individuals. They see over 60 individuals each week and are based at our Duke Street premises. In November we became a Winter Shelter for the Homeless on Thursday. Friday and Saturday each week when required until March- in conjunction wit Norwich City Council We also nt our rooms and car park spaces to other local business Other activities during the year included= Use of our buildings as Polling Stations Use of buildings to host a NOlCh & Norfolk music festival Quiz Nights Weddings l Funera15 & thanksgivings / Infant dedlcations support for the Samaritan's Purse 'Operation Chrlstmas Child. Appeal Regular Ladies events occurred The Church operates systems to ensure that all people worklng with children and vulnerable adults are appropriately vetted wlth regard to the Disclosure and Barring Service. The church Is GDPR compliant In accordance with the Data Protertion Act 2018. Achlevements and performance Revlew of Activities The Church measure5 its achievements against our principal purpose, our vision and our culture statements. These include areas such as carin& growing in and sharing faith, relationships, encouragement and being a positive and valued part of the
Norwich Central Baptist Church Trustee's Annual Report (continued) Year Ended 31" March 2024 local community. We recognise that these can be difficult to measure in the best of tlmes but markedly more so during the changing situation we faced with the covid pandemic that presented many new challenges and opportunities that the Church tsckléd during a two year period without a Minister. The activities we mention above describe some of the ways we dealt with these during this financial year. Financial revi w Total income for the year was £265,19812023- £357,828). The net incoming resources, after all operational expenses, was £31912023- £71.0991. The Church continues to raise the funds which it needs to carry on its activities from within its own membership and congregation and from renting rooms to community groups. The Church was able to continue to exp$5 its part in the life of the wider church by making grdnts to local. national and international Christian organisations and societies with Christian aims and objectives compatible with the church's own charitable vision. The Church is heavily dependent on ts membership and regukr attenders working as volunteers in all asperts of the church's activities. many of which run with little or no impatt on the church's expenditure. but nevertheless contribute substsntialty to the achievement of the church's objectives. The financial resultsforthe year, togetherwith a summary of the accounting policies adopted are Set out in the accompanylng financial statements. Soaring energy costs continue to significantty affert ourfinanS- making up a significant percentage of ourc05ts ladditionalEy the signrficant increase in the energy cap for the average household dlminishes some the donations the church would normally receive as people have to manage their individual budgets.) We changed energy suppller in November 2023 to improve this situation. Reserves Pollcy The Trustees consldered what reasonable unrestricted reserves we should lookto retain to ensure we can cope with financial challenges that might arise. Havlng looked at the risks to our income streams and the short and long term expenditure commitments we have, and after allowing for possible unplanned expenditure that may be needed, it was agreed we would look to keep free reserves lunrestrlcted funds excluding fixed assets) 01 £66.000. This figure will be reviewed when we set the next annual budget The balance on free reseryes will be available for future charltable expenditure. As at 31st March 2024, free reseNes had a surplus of £137.19312023: £133,841>. Total funds as at 31" March 2024 amount to £5,323.61912023= £5.301,7961. Plans for the future The Capital Team reported back its findings on p055ible Capital Expenditure that is needed in the future. It contained two main items to consider.: The repairand renovation of the main roof and additional flat rooves overthe hall and meeting rooms. will probably cost at least £9(JI,CMIO - £I.100.000. The team are in the process of considering options having completed professional surveys. Surveyor and project manager have been appointed and the processes for seeking planning commission and fvnd raising has started. Cost associated will the roof repairs has begun to be incurred, primary professional fees and some urgent safety repairs. The Churth has decided to return the Mousehold Hub premises the Baptist Union of Great Britain-thls Includes the manse attached to the Hub, and so a new Manse Ichapel House) will be provided for Minister Paulo. The Baptist Union of Great Britain will seek to sell the property in due course and it is possible that NCBC may receive some benefit from the Sale Ithe sale completed In Dec 20241. Trustees, Responsibility Statement The Trustees are responslble for preparing the Tru5tees' report and the h'nancial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Pratticel.
Norwich Central Baptist Church Trustee's Annual Report (continued) Year Ended 31" March 2024 The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the charity and of the incowning resources and application of resources of the charity for that period. In preparing these financi31 statements. the Trustees are required to= select suitable accounting policie5 and then apply them consistently,. observe the methods and principles in the Charities SORP- make judgments and accounting estimates that are reasonable and prudent- preparethe financial statements on the going concern basis unless It Is Inapproprlate to presume that the charitable company will continue in operatlon. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charivs transartions and disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustees to ensure that the flnancial statements comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulations 2008 and the provisions of the Trust Deed. The Tnjstees are also responsible for safeguarding the assets of the charity and hente for taklng reasonable steps for the prevention and detection of fraud and other irregularities ststement as to disclosure to our auditors In so far as the Trustees are aware at the time of approving our Trustees, annual report= there is no relevant information. being information needed bythe auditor in connertion with preparingtheir report, of which the group's auditor is unaware, and the Trustee5, having made enquiries of management that they ought to have individually taken, have each taken all steps that he/5he is obliged to tske as a trustee in order to make themselves aware of any relevant audit infomiatlon and to establish that the auditor is aware of that information. -)ANJ-Z This report was approved bythe Trustees on .................. - and signed on its behalf by- Print Narne ..-. . Trustee
Independent Auditors Report to the Trustees of Norwich Central Baptist Church Year Ended 31" March 2024 Oplnlon We have audited the financial statements of Norwich Central Baptist Church (the 'charitVI for the year ended 311t March 2024. which comprises the Statement of Financial Activities, the Balancè Sheèt and noteg to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 'Yhe Financial Reporting Standard applicable in the UK and Republic of Iland, Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements= give a true and fair view of the state of the CharitWs affairs as at 31st March 2024 and of its irkcoming iesources and application of resources for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Prartice; and have been properly prepared in accordance with the requiments of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI (1s IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial ststements sertion of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requlrements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to going concern In auditing the financial statements, we have concluded that the governors 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 foundation'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 responsibilltles of the governors with respect to going concern are described in the relevant sections of this report. Other matter The corresponding figures were not audited. Other infomiation The trustees are responsible for the other information. The other information comprises the information in the Trustees, Report, but does not include the financial statements and our Report of the Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwtse explicitly stated in our report, we do not express any form of assuran conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially incon51Stent wtth the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. 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. Oplnlon on other matters prescrlbed by the Charities Act 2011 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the f inancial yearfor which the financial statements are prepared is consistent with the financial statements,. and the Trustees, Report has been prepared in accordance with applicable legal requirements.
Independent Auditors Report to the Trustees of Norwich Central Baptist Church (continued) Year Ended 31" March 2024 Matters on which we are required to report by exception In the light of the knowledge and understsndlng of the charity and its environment obtalned In the course of the audit. we have not identified material mlsstatements in the Trustees, Report. We have nothlng to report in respect of the following Matte where the Charities Act 2011 requires us to report to you if, In our opinion: adequate accounting records have not been kept. or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agement with the accounting records and returns- or certain disclosures of trustees. remuneration specified by law are not made,. or we have not receNed all the information and explanations we require for our audit. Responsibilities of Trustees As explained more fully in the Trustees, Responsibilities Statement set out on page two. the trustees are responsible for the preparation of financial statements which give a true and fair view. and for such internal control as the trustees determine necessary to enable the preparation of financial statements that are free from material misstatemenL whether due to fraud or error. In preparlng the financial statements, the trustees are responsible for asse55ing the charity'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 elther Intend to liquidate the charity or to cease operations, or have no realistic alternative but to do 50. Audltors. responsibilities for the audlt of the financial st*ements Our objectlves are to obtain reasonable assurance about whether the financlal statements as a whole are free from material misststement, whether due to fraud or error, and to issue 3 Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit condurted in accordance with ISA5 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered materlal If. indNidvally or in the aggregate, they could reasonably be eypected to influence the economic decisions of users taken on the basis of these financial statements. Irregulartties, including fraud, are Instances of non-compllance with laws and regulations. We design procedures in line with our responsibilities, outllned above, to detect material misstatements in respect of irregularitles, including fraud. The extent to which my procedures are capable of detecting irregularities, includlng fraud is detailed below: Our audit procedures included analytical technlques, third party confirmation of balances and verlflcation of transactions on a sample basis to provide sufficient appropriate evidence that the atcounts show a true and fair view and are free from matÈri31 irregularities including fraud. error and noniompliance with applicable laws and regulations. In designlng these procedure5 and in particular we considered the risk of fraud over completeness of income, occurrente and presentation of expenditure, valuation and existence of assets and completeness of liabilities. A further description of our responsibiltties for the audit of the financial ststements is located on the Financial Reporting Council's website at www.frc.org.uklauditor5responsibilities. This description forms part of our Report of the Auditors. Use of our report This report is made solely to the charitrfs trustees, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. Our audit work has been undertaken so that we might stste to the charity's trustees those matters we are required to state to them in an audrtor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity'5 trustee5 as a body, for our audit work, for thi5 report. or for the opinions we have ft)rmed. Mr Anthony James Brice FCCA Isenior statutory Audltorl for and on behalf of Annatrice Limlted, Statutory Auditor 10, The Thoroughfare Harleston Norfolk IP20 9AX Annatrice Limited is eligible to act as an auditor in terms of sectlon 1212 of the Companles Act 2006.
Norwich Central Baptist Church Statement of Financial Activities Year Ended 31° March 2024 Unrestrirted Funds Restricted Funds Total Fund$ 2024 Total Funds 2023 Note Incomln Resources From Benerated funds Voluntary income Investment income 186,533 8,157 62,130 186,533 8.157 62.130 270.748 7.579 70,272 Charitable actlVLties Other incoming resources Total incoming Resource5 265 198 357 828 Resources Ex nded Charitable arti¥itie5 Direct charitable expenditure Costs of generatlng funds Governance costs Total resour$ 258,933 258,933 280,095 expended 264 879 28 72 Net loutgoingllincoming Resource5 319 13,081 319 Unrealised gain5111055es) on investments Transfers between funds 8,423 21,504 90,495 Net movement in Funds ,400 8,423 21,823 161,594 Recondllatlon of Funds Balantes brought fornard 417 911 4 883 885 5 301796 5 140 202 Balances carroed fonvard 4 892 308 S 323 619 5 301 796 The tharity has no recognised gains or105ses Qther than the results for the year as set out above. All of the activities of the charity are classed as continuing. The note5 on pages 11 to 16 form part of these financial statements.
Norwlch Central Baptist Church Balance Sheet Year Ended 31" March 2024 2024 2023 Note Flxed assets Tangible assets Investment property Investments io 4,302,977 625,000 4,306,007 625,000 235 732 5,166, 739 io li 5,185.213 Current a55ets Debtors 12 11,078 6,507 Cash at bank and in hand 148,582 145,496 Credltors: Amounts falling due within one year ia Net current assets 135 057 Totsl assets les5 Current Ilabilitles 5,323,619 5,301, 796 Long tenn liabilities Total net assets 5 323 619 Represented by: Unrestricted funds 14 431,311 4 892 308 417,911 4 883 885 Restricted 5 323 619 5 301 796 These financial statements were approved by the Trustees on ..] o.. -J .9...-..kn...fBnd are signed on its behalf by: Print Name SF . Tnjstee The notes on pages 11 to 16 form part of these financial statements. io
Norwich Central Baptist Church Notes to the Financlal Statements Year Ended 31" March 2024 Accountlng pollcles The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year. Basis of accounting Norwich Central Baptist Church is an unincorporated charity registered with the charities commission in England and Wales and governed in accordance with a Trust Deed. The address of the registered office is given in the charity information page of these financial statements. The nature of the CharItS operations and principal activities are described in the Trustees, Report. The charity constitutes a public benefit entity as defined by FRS 102.The financial statements have been prepared in accordance with Statement of Recommended Practice.. Accounting and Reporting by chaiities preparing their ccounts in accordance wtth the Financial Reporting Standard applicable in the UK and the Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice. The financial statements are prepared on a Eoing concern basis underthe historical cost convention. Assets are stated at cost less impairments which are charged to the ststement of financial activities. The financial statements are prepared in Sterling which 15 the functional currency of the charity The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The charity adopted SORP IFRS 1021 in the currentyearand transition to SORP IFRS 1021 has not affected the reported Pinancial position or performan b) Fund accounting Unrestricted funds are available for use at the distretion of the Trustees in furtherance of the general objects of the charity. DesiEn3ted funds are unrestricted funds earmarked by the Trustees for particular purposes. Restricted funds are subjected to restrirtions on their expenditure imposed by the donor or through the terms of an appeal. Surpluses on restricted funds are made available to other funds in the furtherance of the objectives of the charity as a whole. Incoming resources All incoming resources are included in the statement of financial actfvities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. Voluntary income is received by way of donations and gifts and is included in full in the SOFA when receivable. Grants and donations are recogni5ed when receivable. Investment income along with any recoverable income tax is recorded when receivable. Gift aid reclaimable on donations to the charity is included with the amount received. d) Re50ur¢es expended Expenditure is recognised in the accounts oll an accruals basis and includes any irrecoverable VAT. Choritoble expenditure comprises those costs incurred by the charity in the delivery of its activities and services for wts beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governonce costs include those costs associated wlth meeting the constitutional and statutory requirements of the charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly* Others are apportioned on an appropriate basis. Fixed assets Tangible fixed assets are stated at historic cost less accumulated depreciation. Depreclation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset. li
Norwich Central Baptist Church Notes to the Flnanclal Statements (continued) Year Ended 31" March 2024 Investment property is stated at fair value. The freehold property is not depreciated on the basis that the resldual value Is not believed to be significantly less than the historic cost and hence the depreciation would be immaterial. These assets are reviewed by the trustees for impairment every year. The freehold property is stated at deemed hlstoric cost whlch is taken as the insured value that was used before the transltion to FRS 102. Financlal Instruments All the charity's flnancial instruments are ba51c flnancial instruments measure at amortised hlstorlc cost except for funds Invested in COIF units which are measured at market value throu8h the ststement of financial artivitie5. Taxatlon Norwich Central Baptist Church is a registered charlty and is therefore exempt from direct tsxation. Value added tsx not reclaimable by the charity is included under the various relevant expenditure headlngs. Voluntary Income Restrlcted Fund5 2024 Unrestricted Funds 2024 Total Funds 2023 Weekly offerings Donations & other income Gif aid recovered Bequests & Legacles Raised for other causes Totsl 142,174 8,417 33,620 2,000 322 118,294 103,063 49.391 The charity only has one activity being that of a Baptist Church. All the income relates to this single actNIty. Investment Income Unrestrlcted Funds 2024 Totol Funds 2023 Bank Interest Income from fixed asset investments 1,341 274 Charltable Art•vities Unrestrirted Funds 2024 Total Funds 2023 Rents and contributlons for use of premlses Staff costs recharged Totsl 54,623 66,262 272 The charity only has one activity being that of a Baptist Church. All the expenditure relates to this single activity. 12
Norwich Central Baptist Church Notes to the Flnancial Statements (continued) Year Ended 31" March 2024 Other Incomlng Resources Restrlrted Funds 2024 Unrestrirted Funds 2024 Total Funds 2023 HMRC CJRS Utilrcies refund & miscellaneous Insurance claims Other Total 5,687 4.816 Analysis of Charitable Expenditure Dirert tharitable servi$ Restrlrted Funds 2024 Unrestrlrted Funds 2024 Total Fund$ 2023 Employee Expenses Mission Youth & Children Evangelism & Ministry Upkeep of church premises Administration Totsl 115,527 18,999 4,243 10,330 88,041 107.838 25,469 6,286 5,686 114. 778 03 The average number of staff employed by the charity during the financial year was 812023: 81. No employee received remuneration amounting to more than £60,000 in either year. Governan Costs Unrestricted Funds 2024 Total Funds 2023 Professlonal fees Totsl The resources expended bythe charity include: Unrestricted Funds 2024 Total Funds 2023 Independent examine¢s fee Independent audltofs fee Depreciation of tangible fixed assets 5,198 4,755 4,500 4,324 During this and the preceding year none of the directors or trustees received 8 ny remuneration, benePrcs in kind or reimbursement of expenses incurred on behalf of Norwich Central Baptist Church. 13
Norwich Central Baptist Church Notes to the Financial Statements {continued) Year Ended 31" March 2024 io. Tangible red assets Equipment Freehold property Total Cost At l April 2023 Additions Reclassification At 31 March 2024 17,295 1,725 4,299,780 4,317,075 1,725 4 299 780 4 318 800 Depreciation At l April 2023 Charge for the year At 31 March 2024 11.068 11,068 823 Net book value At 31 March 2024 At 31 Morch 2023 227 4 299 780 Investment Propeity Investment property Cosvvaluation At l April 2023 Retlassificatlon Revaluatlon At 31 March 2024 625,OCKI 625 Investment property was revalued by a RICS qualified surveyor in January 2022 and updated by trustees in October 2024. The legal title to the freehold property and investment property is held by The Baptist Union Corporatlon Limlted under a Falrbalrn Trust for the benefit of the charity. The freehold property is stated at deemed hlstoric cost being the insured value used in prevlous financial years. ii. Fixed Asset In¥e5tments COIF COIF The Baptist Insurance Company Pl¢ Total Costlvaluation At l March 2023 RevaluatSon Disposals At 31 March 2024 234,117 21,504 1,615 235,732 21,504 12. Debtors: Amounts falling due within one year 2024 2023 Trade debtors Prepayment5 Other debtors Total 3.507 183 1,061 183 14
Norwlch Central Baptist Church Notes to the Financial Statements (continued> st Year Ended 31 March 2024 Credltors: Arnountsfalling due wlthln one year 2024 2023 Trade creditors Social security and other taxes Other creditors Total 3,256 1,723 5,489 17 Statement and Summary of Funds Balance at l Apyll 2023 Incoming Outgolng & Transfers Balan at 31 Mar 2024 Unrestricted funds General funds 417 911 278 279 431311 Restricted funds St Ma¢Ys church Bulldlngs fund 92,916 8,423 101,339 83 42 4 892 308 The St Marfs church fund is a historic hjnd which was created on the transfer of monetary assets from Ilnked charities. This fund is invested in the COIF account alongslde amounts allocated to general funds. There were no movements, Income or expenditure on this fund during the period or during the pievious period other than the revaluation ot the units held in the COIF investment. The buildings fund is a historic fund containing the freehold and investment property held in twst by The Baptist Union Corporation Limfced. There were no movements on thi5 fund during the period or during the previous period. 15. Analysis of net assets between restrirted and unrestrirted funds Other Net Total Fixed Assets Year ended 315t March 2024 Restricted funds 4.891.095 1.213 4,892,308 Unrestricted funds 138 Year ended 31st Morch 2023 Restrlrtedfunds 4,882,669 1,216 4,883,885 Unrestrirtedfunds 284 070 417911 5 166 739 16. Related Party Transactlor There were no related party transactions during this or the precedin8 year. 15
Norwlch Central Baptist Church Notes to the Financlal Statements {continued) Year Ended 31" Mar¢h 2024 Comparative Statement of Financial Activity Unrestrirted Fund5 Restrlrted Funds Total Funds 2023 Total Funds 2022 Note In mln Resources From generated funds Voluntary income Investment income 270,748 7,579 70,272 229 270,748 7,579 70,272 146,509 6,76S 84,386 Charitable activities Other Incoming resources Totsl incomln8 Resources 35 243 esourc Ex ended Charitable actlvltles Dlrect charitable expenditure Costs of generating funds Governance costs Total resources 280,095 280,095 247,526 expended 249 689 Net loutgolng}Ilncoming Resources 71,099 94,218 71,099 90,495 (5,886) 19,355 Unrealised gainslnossesl on investments Transfers between funds (3,7231 Net movement in Funds 165,317 (3,723} 161,594 13,469 Reconciliation of Funds Balances brought fotward 252 594 4 887 608 5 140 202 512673 Balances carried fonvard 417 911 4 883 885 5 301796 16