Norwich Central Baptist Church Trustee's Report and Financial Statements For the Year Ended 31st March 2025 Tell: 01603 760497 Email: office@norwichcentral.org Website: www.norwichcentral.or Norwich Centra5 Baptist Church is registered with the Charity Commission Reglstratlon number 1126847
NoThvich Central Baptist Church Trustee's Report and Financlal Statements Year Ended 31" March 2025 Contents Page Charity Information Trustee's Annual Report 2to6 Independent Audltor's Report to the Trustees 7t08 Statement of Financial Actlvlties Balance Sheet io Cash Flow Statement li Notes to the Financial Statements 12to17
Norwich Central Baptist Church Charlty Informatlon Year Ended 31" March 2025 Trustees Tom Madders (Ministerl Paulo Mussi IMinister- Portuguese speaking churchl Eliiabeth Kilpatrick Ichurch Secretary) Steve Genders (Treasurer) Rob Evans (resigned January 20261 Jenny Hunt Martyn Davey Suzanne loy Broom Ed Knight Dave Newell Property Trustees The Baptist Union Corporation Limlted Baptist House 129 Broadway Didcot Oxfordshire OXII 8RT Bankers Barclays Bank St Stephens Branch, Norwlch Charity Re8iStered Number 1126847 Prfnclpal Offlce Norwich Central Baptist Church Duke Street Norwich Norfolk NR3 3AP Independent Auditor Annatrice Limited, Statutory Audito 10, The Thoroughfare Harleston Norfolk IP20 9AX
Norwich Central Baptlst Church Trustee's Annual Report Year Ended 31" March 2025 The Trustee5 presents its annual report togetherwith the financlal statements of Norwich Central Baptist Church Ithe charityl for the year ended 31st March 2025. The financial ststements comply with the Charities Art 2011 and the Statement of Recommended Practice.. "AccountinE and Reporting by Charities" IFRS 1021. The reporttakes account of the requirementfor Trustees to report annually on public benefit and the Trustees have had regard to the Charity Commission's guidance on public benefit. Structurej governance and management Trustees The trustees who served through the financial year are listed on page I (Charity Information) The Trustees are responsible for keeping accounting records which dlsclose wlth reasonable accuracy the financial position of the charity and which enable it to ensure that the financlal statements comply with Charities Act 2011. They are also responsible for safeguarding the a55ets of the charlty and hence for taking reasonable steps forthe prevention and detection of fraud and other Irregularitie5. The Governing Document is the"Constitution for Norwich Central Baptlst Church. October 2008". Method of A in ment or Elertion of Tr The Charity Trustees, which include the Minister, Church Secretsry and Treasurer. who are collectively known as the Leadershlp, are appointed at Members Meetlngs. They are responsible forthe day to day management and oversight of the Church's operatlons, together with the financial and legal aspects of the Charity- With the exception of the Minlster, Trustees an be elected for an Initial period of up to four years, after which they are eligible for reelection for one furtherterm of four years. They are then required to step down for at least one year. before being eligible for reappointment. Church Membership is open to those who= accept the Bellefs of the Church,. meet the Church's qualification on Baptlsm- • commlt themselves to serving Chrlst within the Church and beyond- • abide by the decisions of the Church Members, Meetlng,. acknowledge thelr responsibilities as Church Members; have thelr membership application accepted by the Churth Members, Meeting anisational Structur Decision Makin Ordinary Members Meetings normally take place five times per year and they have the responsibility for the overall policy of the church. These are an opportunity to conslder and review matters assoclated with the life of the Church, intluding Issues related to church membershipi the appolntment of the Charity Trustees, the approval of the budget and wwth opportunities for considering proposals from the Charity Trustees or other Church Members for the development of the Church and the advancement of its Purpose through its Activitles. Though the Constitution permlts declsions to be made at Church meetlngs by appropriate majorities, the Church seeks to work by consensus wherever possible. Related Pa Relati Related party relatlonship5 are limtted to those betsveen the Charlty and The Baptist Union. Risk Mana ement The Trustees has considered the risks the Charity faces and has concluded that there are no major risks at this time. A review of risks is made on a re8ular bas1S.
Nonvich Central Baptist Church Trustee's Annual Report (continued) Year Ended 31" March 2025 ObJertl¥es and Artlvltles Politiès and Ob'ectivès The principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination.The Church may also advance education ond carry out othercharitsble purposes in the United Kingdom and/or other parts of the world. Our Vision is To Knowjesus ond to Moke Jesus Known and the following Culture Statements are some of the things that are important to us. Belng Blble based und Prcyerfocussed- We love dynamic Bible teaching that is relevant for everyday life. Prayer changes the world - praise, confession and intercession needs to be at the heart of all that we do. Being Spirit-led wotshlppe- We are blessed that as Christians we don't have to live In our own strength. We have the gift of the Holy Splrit to equip us and guide us as we seek to faithfully follow Christ. We encourage people to explore the rich and varied gifts of the Splrit, includlng prophecy, healing, speaking in tongues. In corporate worship we see oursefves 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 contemporary styles. Sharlng lffe- There are many amazing people who come to the church who have experienced God in lots of different ways. Getting to know others, developing friendships, discovering 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. SeThlng- We are privileged that God has given each of us gifts and therefore we have something to offer back to God. We aim to help people dlscover how they can best serve God and each other. Shurlngfv1th- We believe the best of life comes through knowing Jesus, so we will share our faith in words and action. 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 feel Special and that they can belong to our church family. Community committed- We are located in a particular community. We wlll seek to bring a positive impatt to those that live and work around us through our vibrancy and love for our neighbours. Being Ifingdom inspired- We experience a 'holy discontenv that leads us to work towards Kingdom values. This includes supporting Christian missionaries Publlc Beneflt The church has read the Charity Commission guidance on public benefit and is satisfied that the artivlties outlined in this document clearly demonstrate that the charity is providing a benef it to the public. Actlvltles In order to achleve the principal objective, which is set out above, the Church piovides a variety of activltles both for Its membership and for the community generally. Our aim is to show the love of Jesus Christ in both word and deed. Central to the work and wttness of the Church is the provision of regular pijblic services of Christian worship. Post covid restrictions, we continue to stream the Sunday English Speaking Service and our PortUEuese 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 Chlldren's and Community worker who works with local schools and arranges the children's Quest groups that meet during the Sunday morning SeNices. We employ a Youth worker whose primary focus. currently, is teaching and caring for the youth that attend churth services. Open the Book assemblies at local schools ran most weeks for the whole year. Café Tots on Wednesday mornings which is very well attended. In Ortober there was a 'Light' Party for the primary school aged chlldren in local community.
Norwich Central Baptist Church Trustee's Annual Report (continued) Year Ended 31" March 2025 We hold Messy Church every couple of months on a Saturday, attracting people from church and local communitles The Church firm believes In the power of prayer and It is fundamental to our faith and church life. Prayer is part of many of our activities and we have a monthly Prayer Evening called 'Encounter.' Members and the commLsnity can request prayer In many ways- we have a text number, email address, phone number and a prayer box within the church where qUestS can be made. In February we held a Speclal Prayer Evening for the situation In Ukralne. The Church runs a number of small contact groups which meet regularly and operate as discÉple-making, pastorally caring small groups. Additional support is also available and provided by the Church's Pastoral Care Team NCBC acts as Foodbank Distribution Centre and our Café Tots and Stay and Play Groups for pre-school children welcome visitors once again. In May, July, August. October and February we delivered food par15 to local families who Struggle to provide food for their children in the school holidays. This initiative was SUPIKlrted by the Norwich Foodban Our propertles are also Used by a number of local Community organisations who work with vulnerable people and we aim to demonstrate Chrisys love for each person in all our dealing5 With them. These include Alcoholic Anonymous Narcotics Anonymous Overeaters Anonymous Clarion Housing- 2 days a week for ad hoc meetings plus monthly training COLsrses covering food hygiene, first ald & Engllsh Skills. 4Cs (Centre for Christian Care and Counsellingl This is a charity stsffed by both male and female qualified counsellors who work on a voluntary basis and offer compassionate. client-centred tounselling to Indlvlduals. They see over 60 individuals each week and are based at our Duke Street premises. We also rent our rooms and car park spaces to other local business Other attivities during the year included= Use of our buildings as Polling Stations Use of buildings to host a Nonvich & Norfolk music festival Quiz Nights Wedding5 1 Funerals & thanksgivings I Infant dedications Support for the Samaritan's Purse 'Operation Christmas Child, Appeal Regular Ladies events occurred The Church operates systems to ensure that all people working with chlldren and vulnerable adult5 are approprlately vetted with regard to the Dlsclosure and Barrlng Service. The church 15 GDPR compliant In accordante with the Data Protertion Att 2018. Athievements and performance Review of Activities The Church measure5 its achievements against our principal purpose, our vision and our culture statements. These include areas such as caring, growing in and sharing falth, relationships, encouragement and being a positive and valued part of the local community. Financial review Total income for the year was E646,81112024: £265,198). The net incoming resources, after all operational expenses, wa5 £362,34312024'. £3191.
Norwich Central Baptist Church Trustee's Annual Report {continued) Year Ended 31" March 2025 During the year the sale of Mousehlold Hub was completed by the Baptist Union, the proceeds of whlch1£269kl were gifted to the church and have been allocated to the project to repair the Church Roof. The Church continues to raise the funds whtch it needs to carry on $ activities from within fcs own membership and congregation and from renting rooms to community groups. The Church was able to continue to express its part in the life of the wider church by making grants 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 its membership and regular attenders working as volunteers in all aspects of the church's artivities. many of which run with Irttle or no impact on the church's expenditure. but nevertheless contribute substantially to the achievement of the church's objectives. The financial resultsforthe year, togetherwith a summary of the accounting policies adopted are set out inthe accompanyinE financial statements. Soarlng energy costs continue to significantly affect ourf inance5- making up a significant percentage of ourcosts ladditionallv the signfficant increase in the energy cap for the average household diminishes some the donation5 the church would normally receive as people have to manage their individual budgets.) We changed energy supplier in November 2023 to improve this situation. Reserves Policy The Trustees considered what reasonable unrestrlcted resee$ we should look to retain to ensure we can cope with financial challenges that might arise. Having 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 lunrestrirted funds excludlng flxed assets) of £66,000. This figure wlll be reviewed when we set the next annual budget The balance on free reserves will be available for future charitable expenditure. As at 31st March 2025, free reserves had a surplus of £133,99612024: £137,193). Totsl funds as at 31st March 2025 amount to £5,674,05212024.. £5.323.6191. Plans for the future The Capital Team feported back its findings on possible Capitsl Expendlture that Is needed In the luture. It contsined two main items to consider.- The repair and renovation of the main roof and additional flat rooves overthe hall and meeting rooms, will probably cost at least £900,000 - £1,100,000. The team are in the pr(Kess of considering options having completed professional suNey5. Surveyor and project manager have been appointed and the processes for seeking planning commission and fund raising has started. Cost associated will the roof repairs has begun to be incurred. primary professional fees and some urgent safety repair5. The Church has decided to return the Mousehold Hub premises the Baptist Union of Great Brttain-this 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 beneftt from the sale Ithe sale completed in Dec 20241. Tru5tees' Responsibility Statement The Trustees are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each flnancial year that give a true and fair view of the state of affairs of the charity and of the incoming resouices and application of resources of the charity for that period. In preparing these financial ststements, the Trustees are required to: selett silltable accounting policies and then apply them consi5tentlyi observe the methods and principles in the Charities SORP.
Norwich Central Baptlst Church Trustee's Annual Report (continued) Year Ended 31" March 2025 make judgments and accounting estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriateto presume thatthe chartsble company will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the chariws transattions and disclose with reasonable accuracy at any time the financlal posltion of the charity and enable the Trustees to ensure that the finantial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the Trust Deed. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fvaud and other irregularltles Statement as to dlsclosure to our audltors In so far as the Trustees are aware at the time of approvln8 our Trustees, annual report.. there is no relevant information. being information needed bythe auditor in connection with preparing their reporL of which the group's auditor is unaware. and the Trustees. having made enquiries of management that they ought to have individually taken. have each tsken all steps that helshe Ès obliged to take as a trustee in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Thi5 report w s approved by the Trustees on ........... and signed on tts behalf by: Print Name . - Trustee
Independent Auditors Report to the Trustees of Norwich Central Baptist Church Year Ended 31" March 2025 Oplnlon We have audited the financial statements of Norwich Central Baptist Church Ithe 'charity'l tor the year ended 31st March 2025, which comprises the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of slgniflcant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally ACpted Accounting Practice) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the Charitys affairs as at 31st March 2025 and of its incoming resources and application of resources for the year then ended. have been properly prepared in accordance with Unlted Klngdom Generally Accepted Accounting Practice- and have been properly prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibiltties for the audit of the financial statements section of osjr report. We are independent of the charity In accordance with the ethlcal requlrements 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 requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Condusions relating to going toncern 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 financlal statements are authorised for issue. Our responsibllities and the responslbilities of the governors with respect to going concern are described in the relevant sections of this report. Other matter The torresponding figures were not audited. Other Informatlon 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 Ouf Report of the Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connertion 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 inconsistent with 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 pre5cNbed by the Charftles 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 financial year for 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 (contlnued) Year Ended 31" March 2025 Matters on which we are requlred to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Tru5tees' Report. We have nothlng to report in respert of the following matters where the Charities Art 2011 requires us to report to you if, in our opinion: adequate accounting records have not been kept. or returns adequate fof our audit have not been recelved from branches not vlslted by us: or the financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responslbllftles of Trustees As explained more fully in the Trustees, Responsibllities Statement set out on page two, the trustees are responslble for the preparation of financial statements which give a true and fair view. and for such internal control as the trustees determlne necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ablllty to continue as a going concern, disclosin& as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees elther Intend to liquidate the charity orto cease operations, or have no realistic alternative but to do so. Auditors, responsibilities for the audlt of the financial statements Our objectives are to obtsin reanable assurance about whether the financial statements as a whole are free from material misststement, whether due to fraud or error, and to issue a Report of the Audltors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit condurted accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise f rom fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financlal statements. Irregularities, including fraud, are Instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to whlch my procedures are capable of detecting irregulartties, intludlng fraud is detailed below: Our audit procedures included analytical techniques, third party confirmation of balances and verification of transactlons on a sample basis to provide suffitient appropriate evidence that the accounts show a true and fair view and are free from material irregularities including fraud, error and non<ompliance with applicable laws and gUlatiOns. In designing these procedures and in particular we considered the risk of fraud over completeness of income, occurrence and presentation of expenditure, valuation and existence of assets and completeness of liabilities. A further descrlption of our responsibiltties for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uVauditorsresponslbilities. This description forms part of our Report of the Auditors. Use of our report This report is made 501ely to the charitls trustees, as a body, In accordance with regulations made under section 154 of the Charities Act 2011. Our audtt work has been undertaken $0 that we might state to the charity's trustees those matters we are required to state to them in an audrtor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslbility to anyone other than the charity and the tharity's trustees as a body, for our audit work, for this report, or for the opinions we have formed. Mr Anthony James Brice FCCA (Senior Statutory Audltorl for and on behalf of Annatrice Limited, Statutory Auditor 10, The Thoroughfare Harleston Norfolk IP20 9A Date.. Annatrlce Limited is eligible to act as an auditor in terms of section 1212 of the Companles Act 2006.
Norwlch Central Baptist Church Statement of Financial Activities St Year Ended 31 March 2025 Unrestritted Funds Restrirted Funds Total Fund$ 2025 Total Fund$ 2024 Note Incomin Resources From generated funds Voluntary income Investment income 208,099 9.229 54,284 371,445 579,544 9.229 54,284 186,533 8,157 62,130 Charitable activities Other incoming resources Totsl incoming Resources 646 Resources Ex ended Charitable artivities Direct charitable expenditure Costs of generatlr8 funds Governance costs Total resources 277,993 277,993 258,933 expended Net {outgoinglllncomlng Resources 19.102) 17,2451 371.445 (4,665} 362,343 {11,9101 319 21,504 Unrealised gainslllossesl on investments Transfers between funds Net movement in Fund5 (16,347) 366,780 350,433 21823 Reconclllatlon of Funds Balance5 brought forward 4 892 308 5 323 619 5 301 796 Balances Carried forward 5 259 088 5 674 052 5 323 619 The charity has no recognised galns or losses other than the results for the year as set out above. All of the activitie5 of the charity are classed as continuing. The note5 on pages 11 to 16 form part of these financial statements.
Norwich Central Baptlst Church Balance Sheet Year Ended 31" March 2025 2025 2024 Note red assets Tangible assets Investment property Investments io 4,301,737 625.OCw) 245 4,302,977 625.000 257 236 5,185,213 io li 5,172,063 Current assets Debtors 12 18.611 494 719 Cash at bank and in hand 513,330 148,582 Creditors: Amounts falling due within one year 13 Net CUrnt assets 138 406 Totsl assets less Current liabilities 5,674,052 5,323,619 Long term liabilitie5 Totsl net assets 5 674 052 5 323 619 Represented by: Unrestritted funds 14 414,964 5 259 088 431,311 4 892 308 Re5trlcted 5 674 052 5 323 619 These financlal statements were approved by the Trustees on ....fi. TrJ Zo.£4....and are signed on its behalf by; Print Name................................. .. Trustee The notes on pages 11 to 16 form part of these financial statements io
Norwich Central Baptist Church Cash Flow Statement Year Ended 31" March 2025 2025 2024 Reconcillation of net inc(Mne to cash generated from operations Net income 350,433 21.823 Adjustmerts for: Financial investment (income Unrealised Igains/l losses on investments Depreciation of tangible assets Decrease llincreasel in trade and other debtors {Decrease/l increase in trade and other creditors Net cash generated from operatlons 19,2291 11.910 2,700 (7,533) 18,1571 121.504) 4,755 (4,571) 263 349 446 statement of cashflows Cash flows from operating actlvltles: Net cash generated Ilexpendedl from operations 349,446 (7,917) Cash flows from Investing attivities Purchase of tangible fixed assets Financial investment income 11,4601 11,725) Net {decrease)lincrease in cash and cash equivalents 358.215 {1,485} Cash and cash equivalents at beginning of year 138 989 Cash and osh equivalent5 at end of year Anatysis of changes in net funds The charity had no material debt durin8 the year. li
Norwich Central Baptist Church Notes to the Financial Ststements Year Ended 31" March 2025 Accounting policles The prlnclpal accounting policies are summarised below. The accountlng pollcies have been applied consistently throughout the year and in the pretedlng year. is of accounting Norwich Central Baptist Church is an unincorporated charity registered with the charities commission in England and Wales and governed in accordan with a Trust Deed. The address of the registered office is given in the charity information page of these financial ststements. The nature of the charitrfs operations and principal actwities are described in the Tru5tees' ReFK)rt. 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 Rew)rting by chartties preparing their accounts in accordance with 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 going concern basi5 underthe historital cost convention. Assets are stated at cost less impairments which are charged to the statement of financial activities. The financial statements are prepared in sterling which is the functional currency of the charity The significant accountlng 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 ststed. The charity adopted SORP IFRS 1021 in the current year and transition to SORP IFRS 1021 has not afferted the reported financlal posltion or perforrnance b) Fund accounting Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objects of the charlty. Designated funds are unrestricted funds earmarked by the Trustees for particular purpose5. Restricted fund5 are subjected to restrictions on their expendlture imposed by the donor or through the terms of an appeal. Surpluses on restrlcted funds are made avallable to other funds in the flIrtheran of the objectives of the charity as a whole. Incoming resources All incoming resources are Included in the statement of financial actwities when the tharity is entitled to the income and the arnount can be quantrfied with reasonable accuracy. The following specific policies are applied to particular categories of income. Voluntary income is received by way of donations ar¢d gifts and is included in full in the SOFA when receivable. Grants and donations are recognised 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. dl Resources expended Expenditure is recognised in the accounts on an accruals basi5 and includes any irCoVerable VAT. Choritable expenditure comprise5 those costs incurred by the tharity in the delrvery of its artivities and services for Its beneficiaries. It includes both costs that can be allocated direttly to such activities and those costs of an indirect nature nece55aryto supportthern. Govem¢7nce costs Include those costs associated with meeting the constitutional and statutory requirements of the charity. All costs are allocated between the expenditure categorie5 of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular attivity are allocated directlyi Others are apportioned on an approprlate basis. fixed assets Tanglble flxed assets are stated at historic cost less accumulated depreciation. Depreclation is calculated so as to write off the cost of an asset. less its estlmated residual value, over the useful economic life of that asset. 12
Nonvich Central Baptist Church Notes to the Financial Statements (continued) Year Ended 31. March 2025 Investment property IS Stated at falr value. The freehold property is not depreciated on the basis that the residual value is not believed to be significantly le5S than the historic cost and hence the depreciation would be immaterial. These assets are reviewed by the trustees for impalrment every year. The freehold property is ststed at deemed historic cost which is tsken as the insured value that was used before the transltion to FRS 102. rinanclal Instruments All the charity's financial Instruments are basic financial instruments measure at amortised hlstoric tost except for funds invested in COIF units which are measured at mafket value through the statement of financial artivitles. Taxation Norwich Central Baptist Church is a registered charity and is therefore exempt from direct taxation. Value added tax not reclaimable by the charity is included under the various relevant expenditure headings. Voluntary Income Restricted Funds 2025 Unrestrlrted Funds 2025 Total Fund5 2024 Weekly offerings Donations & other income Gif aid recovered Bequests & Legacies Raised for other causes Total 148,023 11,659 48,417 142,174 8,417 33.620 371,445 322 371 The charity only has one activity being that of a Baptist Church. All the income relates to this single activity. Investment Income Unrestrirted Funds 2025 Totol Funds 2024 Bank interest Income from flxed asset investment5 2,198 1,341 22 Charitable Artivitie5 Unrestrlcted Fund5 2025 Totol Funds 2024 Rents and contributions for use of premises Staff costs recharged Total 49,314 54,623 13 The charity only has one activity being that of a Baptist Church. All the expenditure relates to this single activity- 13
Norwich Central Baptist Church Notes to the Financial Statements (continued) Year Ended 31" March 2025 Other Incomlng Re50urces Restricted Funds 2025 Unrestricted Funds 2025 Total Funds 2024 HMRC CJRS Utilities refund & miscellaneou5 Insurance claims Other Total 3,657 5.687 97 Analysis of Charltable Expenditure Direct charitable servlces Restrfrted Funds 2025 Unrestrirted Furrfls 2025 Total Funds 2024 Employee Expenses Mission Youth & children Evangelism & Ministry Upkeep of church premises Administration Totsl 124.840 19.202 5.035 18,524 88,136 115,527 18.999 4,243 10.330 The average number of staff employed by the charity during the financial year was 712024: 81- No employee received remuneration amounting to more than £60.000 in either year. Governance C05ts Unrestricted Funds 2025 Total Fund5 2024 Profe55i0nal fees Total The resources expended by the charity include: Unrestrfcted Funds 2025 Total Funds 2024 Independent examinerfs fee Independent auditorfs fee Depreciation of tarkgible fixed a55ets 5,445 2,700 5,198 4, 755 D¥Jring thi5 and the preceding year none of the directors or trustees received any remuneration, benefrts in kind or reimbursement of expenses incurred on beha of NoNich Central Baptist Church. 14
Norwich Central Baptist Church Notes to the Flnanclal Statements (continued) Year Ended 31. March 2025 io. Tangible fixed assets Equipment Freehold property Total Cost At l Aprll 2024 Additions Reclassrfication At 31 March 2025 19,020 1,460 4,299,780 4,318,800 1,460 4 299 780 4 320 260 Depreciatlon At l April 2024 Charge for thè year At 31 March 2025 15,823 15,823 Net book value At 31 March 2025 At 31 Morch 2024 4 301 737 4 302 977 4 299 780 Investment Property Investment property Costlvaluation At l April 2024 Reclassrfication Revaluation At 31 March 2025 625,000 Investment property was revalued by a RICS qualffled surveyor In January 2022 and updated by trustees in October 2025. The legal title to the fveehold property and investment property is held by The Baptist Union Corporation Limited under a Fairbairn Trust forthe benefit of the charity- The freehold property is ststed at deemed historic cost being the insured value used in previous financial years. ii. Fixed Asset Investments COIF COIF The Baptist Insurance Company PIC Total Cost/valuation At l March 2024 Revaluation Disposals At 31 March 2025 255,621 111,9101 1,615 257,236 111,910) 243 12. Debtor5: Amounts falling due within one year 2025 2024 Trade debtors Prepayment5 Other debtors Total 5,490 183 3,507 183 li 15
Norwich Central Baptist Church Notes to the Financial Statements (contlnued) Year Ended 31" March 2025 13. Creditors: Amounts falling due within one year 2025 2024 Trade creditors Social security and other tsxes Other creditors Total 3,256 2,379 3,256 1.723 14. Statement and Summary of Funds Balance at l April 2024 Incomlng Outgolng & Transfers Balan at 31 Mar2025 Unrestricted funds General funds Restrfcted funds St MAnrfs rhifftrch Buildings fund 101,339 14,6651 96,674 5 162 414 The St Marfs church fund is a historic fund which was created on the transfer of monetary assets from linked charities. This fund is invested In the COIF account alongside amounts allocated to 8eneral funds. There were no movements, income or expenditure on this fund during the period or during the previous period other than the revaluation of the units held in the COIF irbvestment. The buildings fund is a historic fund containing the freehold and investment property held in trust by The Baptist Union Corporation Limited. £371,445 was received in donations from the congregation towards the planned cost of replacing the roof. 15. Analysls of net assets between restrlcted and unrestrirted funds Other Net Assets Total Fixed Assets Year e 1st March 202 Restricted funds 4,891,095 367,993 5,259,088 Unrestrirted funds 133 Year ende 1st Mt7rch 2024 Restricted tunds 4,891.095 1,213 4,892,308 Unrestricted funds 294 118 5 185 213 138 3Z3 16. Related Party Transartions There were no related party transactions during this orthe preceding year. 16
NoNlch Central Baptist Church Notes to the Financial Statements (continued) Year Ended 31° March 2025 18. Comparative Statement of Financial Activity UnrestTlcted Funds Restricted Funds Total Funds 2024 Total Funds 2023 Note Incomin Resourcès Frorn generated funds Voluntary income Investment income 186.533 8,157 62.130 186,533 8,157 62,130 270,748 7,579 70,272 Charitable activities Other incoming resource5 Totsl incoming Resources 265 198 265 198 357 828 Resources Ex nded Cha¥itable arti¥ities Direct charitable expenditure Costs of 8eneiatin8 funds Governance costs Totsl resr¢e$ 258,933 258,933 280,095 expended 264 879 286 729 Net {oJtgolnglllncomlng Resources 319 319 71.099 90,495 Unrealised 8ainslllosse51 on investments Transfers between funds 13.081 8,423 21.504 Net movement in Funds 13.400 8N23 21,823 I6194 Recondllatlon of Funds Balances brought forward 417 911 5 301796 5 140 202 Balances carried fonvard 431 5 323 619 5 301 796 17