REGISTERED CHARITY NUMBER: 1126891
Report of the Trustees and
Financial Statements for the Year Ended
31 December 2023
for
WALTON BAPTIST CHURCH

WALTON BAPTIST CHURCH
Contents of the Financlal Statements
for the Year Ended 31 December 2023
Page
Report ofthe Trusteès
Ito4
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Staternents
8t017

WALTON BAPTIST CHURCH
Report of the Trustees
for the Year Ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended
31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January
20151.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Charity number
1126891
Principal address
Walton Baptist Church
Winchester Road
Walton on Thames
Surrey
KT12 2RG
Trustees
loan Fairhur5t
Yvorine Ander50n
Andrew Hodge
Robert Hart
Phil Wigley
Resigned 31 January 2023
Independent examiner
A J Bennewith FCA, FCPA, FFA, FFTA, FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford, Surrey
GUI 4XA
Treasurer
Phil Wigley FCCA
Holding Trustees
The London Baptist Property Board, 235 Shaftesbury Avenue, London WC2H 8EP act as Holding Trustees of
the fixed assets of Walton Baptist Church.
Page I

WALTON BAPTIST CHURCH
Report of the Trustees
for the Year Ended 31 December 2023
Aims and Objectives
The principal purpose of Walton BaptlSt Church is the advancement of the Christian faith in and around
Walton on Thames according to the Beliefs of the Church as laid down in our ConstitutiOFI. The Church 15 a
member of both the Baptlst Union of Great Britain and the London Baptist Association. In addition, the
Church has a history of sending members to the Christian mission field both within the UK and abroad.
Achievements and Performance
During the year the Charity was able to use its resources to contribute to a variety of causes and give grants
to several missions. We were also able to put significant resources into ministry work while taking care of
the rnaintenance and expenses required to keep the Church running.
Plan5 for the Future
The Charity plans to continue to carry out its objectives and activities under the current board of Trustees.
Membership
Membership of Walton Baptlst Church during the period of this report:
I lanuary 2023
54
31 December 2023
50
Waltorj Baptlst Church doe5 not restritt its activities only to members, but welcomes all believers and
non-believers to its activities as part of its role within the communitv.
Baptism
During the period of this report, no people pa55ed through the waters of baptism.
Actlvlties
In addition to Sunday Services there are many other activities held throughout the week, such as weekly
prayer meetings, home group meeting5 held in peoples, homes, a weekly lunch for the elderly, keep-fit
classes, Israeli dancing and ladies activities,
We also host local ¢ommunlty groups and activitie5 during the week, including a sing and sign children's
group. Pilates classes and a Children's dance school.
We are active members of the Walton Churches Working Together initiative, along with other churches in
the town.
Page 2

WALTON BAPTIST CHURCH
Report of the Trustees
for the Year Ended 31 December 2023
Strurture, Governance & Management
The Charity is controlled by the Trustees
The Trustees consider that there are sufficient reserves.
¢onsidered and taken into account in future budgets.
All Trustees are appointed when neeèssary and arè given sufficient training on appointment.
Any possible risks have been
Risk Management
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error.
Statement of Trustees Responsibilities
Charity law require5 the Trustees to prepare in respect of each financial year of the Charity a statement of
account5 complying with sueh requirements as to its form and content as may be prescribed by regulations
made by the Secretary of State. In preparing those financial statements, the Trustees are required to..
Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent,.
Prepare financial Statements on the going concern basls unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping proper accounting records which comply with reasonable aceuracy
at any time with the financial position of the Charity and to enable them to ensure that the financial
statements comply with the Charities Aet 2011. They are also responsible for safeguarding the assets of
the Charity and hence taking reasonable steps for the prevention and detection of fraud.
Public Benefit
The Trustees believe that the Charity clearly meets the public benefit requirement5 of charity law. This is
demonstrated by the activities reported upon in this document in furtherance of the Charity's objectives,
which provide the opportunity for social interaction, pastoral and practical support and engagement with
the local community.
The Trustees confirm that they have referred to the Charity Commission'5 general guidance on publlc
benefit when reviewin8 the objertive5 and activities in forward planning for our organisation, and it IS the
judgement of the Trustee5 that the above objectives fully meet the publi¢ benefit test.
Page 3

WALTON BAPTIST CHURCH
Report of the Trustee5
for the Year Ended 31 December 2023
Finance
Walton Baptist Church is entirely self-financing. We believe in tithing and offerings to be part of our worship
and distribute 10 per cent of our income to other charities and worthy causes both within the UK and abroad as
described in the accompanying Statement of Financial Activities.
The results for the year are a5 set out in the annexed Statement of Financial Activities.
General Reserves Policy
The General Reserve is to enable the church to continue to operate even when unexperted changes occur
in its income or expenditure. In keeping with Charity Commission and Baptist Union 8uidance, the Church
aims to maintain a General Reserve of 25Yo of its budgeted annual income, or 6 months budgeted staff and
housing eosts, whichever is the greater. This may be increased to take account of potential risks relating to
income security.
It 15 important that the General Reserve is maintained at the appropriate level at the beginning of each
financial year. Therefore, if it falls below the agreed level, urgent steps should be taken to rectify this.
The General Reserve should be the first of any transfers to reserves that take place at the end of the year.
2023 Rese￿e5 Statement
In line with the General Reserves Pollcy the following are the calculations for the General Reserve as at the
End of Year 2023
Budgeted lrncome for 2024
E99,600
x 25Y.
£24,900
Standard month staff & hoLt5ing costs £0
£0
The Church does not currently have any staff or housing costs, however the Trustees understand that a
significant proportion of the church's income comes from people over 70. They have therefore decided to
maintain the general reserve at 50% over a quarter of the budgeted income to take account of this, giving a
General Reserve for 2024 of £37,350.
ON BEHALF OF THE MANAGING TRUSTEES:
Phil Wlglev
Trustee
Page 4

Independent Examiner's Report to the Trustees of
WALTON BAPTIST CHURCH
I report to the charity trustees on my exlmination of the accounts of the Walton Baptist Church (the Trust)
for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity's trustees of the Trust you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in
carrying out rny examination I have followed all applicable Directions given by the Charity Commission
under section 14515llbl of the Act.
Independent Examine¢s Statement
I have completed my examination.
confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respert..
accounting records were not kept in respect of the Trust as required by section 130 of the Act,- or
2. the accounts do not accord with those records,. or
3. the accounts do not comply with the applicable requirements concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a true and fair view which is not a matter considered as part of
an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention Should be dr3wn in this report in order to enable a proper understanding of the account5 to be
reached.
Date..
A J Bennewith FCA,
FIPA, DChA, FRSA
Upper Ground Floor
18 Farnham Road
Guildford
Surrey, GUI 4XA
Page 5

Walton Ba
tist Church
Ststement of Financial Activities
for the Year Ended 31 December 2023
Notes
Unrestricted
Fund5
Restrlrted
Funds
Total Fund5
2023
Total Funds
2022
INCOMEAND ENDOWMENT5 FROM:
Donations and legacies
Tax refunds
Rent receivable
Interest received
Grants received
61,206
7.255
29,264
6,692
61,206
7,255
29.264
6,692
69,786
9,078
18,206
1,610
13,750
TOTAL
104,417
104,417
112,430
EXPENDITURE ON:
Ministry
Administration
Tithe payments
Outreach
Designated gifts
1,608
66,041
10,820
2.080
1,608
66,041
10.820
2,080
414,920
51,310
7,101
3,336
750
13
13
TOTAL
80,549
80,549
107,417
NET INCOMEIIEXPENDITUREI
23,868
23,868
5.013
TRANSFERS BETWEEN FUNDS
23,868
23,868
5,013
OTHER RECOGNISED GAINSIILOSSESI
Actuarial gains/l1055esl on defined
benefit pension schemes
20,790
NET MOVEMENTIN FUNDS
23,868
23,868
25.803
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
1,046,862
1,046,862
1,021,059
TOTAL FUNDS CARRIED FORWARD
1,070,730
1,070.730
1,046,862
The notes form part of these financial statements
Page 6

Walton Ba
tist Church
Balance Sheet
as at 31 December 2023
Unrestrlrted R•5tricted Total Funds
Funds
Funds
31.12.23
Tolal Funds
31.12.22
Notes
FIXED ASSETS
Tangible asset5
816,835
816,835
816.835
816,835
825.920
825,920
CURRENT ASSETS
Debtors
Cash at bank and in hand
10.093
262,635
272.728
10,093
262,635
272.728
6,958
218,842
225,800
CURRENT LIABILITIES
Creditors
18,833
18,833
18,833
18,833
4,858
4,858
NET CURRENT ASSETS
253,895
253,895
220,942
TOTAL ASSEfs LESS CURRENT
LIABILITIES
1,070,730
1,070,730
1,046,862
PROVISIONS FOR LIABILITIES
AND CHARGES
Ntr ASSETS
1,070,730
1,070,730
1,046,862
FUND5
Central funds
Designated funds
1,060,151
10,579
1.060,151
10.579
1.036,013
10,849
1,070.730
1.070,730
1,046,862
The financial statements weie approved by the boa¥d of Trustees on
and were slgned on its behalf bv..
Phil Wigley
Trustee
The notes form part of these financial statements
Page 7

WALTON BAPTIST CHURCH
Notes to the Financlal Statements
for the Year Ended 31 December 2023
ACCOUNTING POLICIES
Basis of Preparing the Financial Statements
The financial statements of the charityi which is a public benefit entity under FRS 102, have been prepared in
accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charitie5.' Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151, Financial
Reporting Standard 102 "The Financial Reporting Standard appllcable in the UK and Republic of Ireland" and
the Charitie5 Act 2011. The financial statements have been prepared under the historical cost convention.
Taxation
The charity is exempt from tax on its charitable activities.
Tangible Fixed Assets
The Church buildings are capitali5ed at cost and are not depreciated, as it is considered that the useful
economi¢ life of the property is so long that any depreciation charge would have no material effect on the
accounts.
Improvements to the Church building are written off over 20 years on a straight line b851S.
Income and Expenditure Recognltlon
Voluntary income is received in cash by way of donations and fundraising and is included in full In the
Statement of Financi31 Activities as soon a5 It is received. Tax reclaimable in respect of Gift Aid is credited in
the period to which it relates. Expenditure Is included on an accruals basis.
Value Added Tax
The Charity is not registered for VAT and all costs are inclusive of VAT.
Fund accountln8
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when SpecIf￿￿d by the donor or when funds are raised for particular restricted purposes.
Pension costs
The Church pays pen5i0n contribution5 fgr its eligible ministerial staff to the Baptist Ministers Pension Trust
Ltd, which is a final salary defined benefit scheme, which is not contracted out of the State Second Pension.
Further detai15 on the pension scheme are set in notes 8 and 11.
Page 8

Walton Ba
tist Church
Notes to the Financial Statement5
forthe Year Ended 31 December 2023
Anal
sis of Incomin
Resources
2023
2022
Unrestrlcted Income
Gift Aid
General income iriclyding CAFS
Tax refunds
Interest received
Rent received
29.018
32,068
7,255
6.692
29,264
36.313
32,638
9,078
1.610
18,206
104,297
97.845
Restricted Income
Community Infiastructure Levy grant
13,750
13,750
Designated Income
Designated gifts
120
835
120
835
rotal Incoming Resources
104,417
112,430
Administration Ex
enses
2023
2022
Salaries, speakers, fees & expenses
Maintenance of Church building
Gas, electricity & rates
Insurance
Repairs & renÈwals
Telephone & internet
Bank charges & subscriptions
Consultant5, legal & professional fees
Independent Examiner's fee
PrSnting, postage, stationery & photocopyin8
Staff training
Housekeeping, service costs & cateiin
Manse5 maintenance costs
Depreciation to freehold building improvements
2.712
3,675
13.488
5,796
15,663
924
1,336
2.864
1,440
256
480
925
2,922
2,953
4,201
24,963
1,282
1,633
810
1,320
542
203
323
634
8,802
8.119
9.085
66,041
51,310
Page 9

Walton Ba
tist Church
Notes to the Financial Statements
for the Year Ended 31 December 2023
Staff Costs
2023
2022
Gr0$5 wages
Employers National Insurance
Pension costs
34,650
4,095
38,745
Average number of employees
No employee received emolument5 in excess of £60,000 during the year ended 31 DecemL7er 2023 nor
for the year ended 31 December 2022.
Tan
ible Fixed Assets
Churth
Premises
Improvements
to Premises
Manse5
Total
Cost
As at 1st January 2023
65,555
181,701 633,369
880,625
As at 31st December 2023
65,555
181,701 633,369
880,625
Depreciarlon
As at 1st January 2023
Charge for the year
54.705
9,085
54,705
9.085
As at 31st December 2023
63,790
63,790
Net Book Value
As at 31st December 2023
65,555
117,911 633,369
816,835
As at 315t December 2022
65,555
126,996
633,369
825,920
Page 10

Walton Ba
tist Church
Notes to the Financial Statements
for the Year Ended 31 December 2023
Debtors
2023
2022
Income tèx recoverable
Other debtors & prepayments
699
698
6.260
9,394
10,093
6,958
Creditors
2023
2022
Accruals
18,833
4,858
18,833
4,858
Provlslons For Liabllltles and Char
es
Section 28 IIA of FRS 102 requires agreed deficit recovery payments to be recognised as a liability.
The movement in the provision is set out in the table below..
2023
2022
Bzlance sheet liability at year start
Minus deficiency contribution5 paid
Interest costs
Remaining Icreditllcharge to balance sheet liability.
23,300
12.9471
437
120.7901
Balance sheet liability at ye2r-end
Comprises any change in the agreed deflclt recovery plan and change in assumption5 between
year-ends.
This liability represents the present value of the deficit contributions agreed as at the accounting date
and has been valued using the following assumption5 set by reference to the duration of the deficit
recovery payments.
2023
2022
2021
Discount rate
Future increases to Minimum Pensionable Income
5.7%
0.0%
5.7Yo
O.OYo
2.0%
3.2%
Page 11

Walton Ba
tist Church
Notes to th¢ Flnan£lal Statemet)ts
tor the Ye
r Ended 31 Der
mber 2023
Movement In Fund5
STou8hl
Forward
Incomln8
Resour¢es
Aegources
Expendad
Aduarial
Galn5lLosses
C•rrfjed
Forward
Tran51er
Unrt$tri¢ted Fy#ds'.
Central fund5
1,036,013
104,297
110.4301
169.7291
1.060,151
1,036,013
104,297
110.4301
169,7291
1.060.151
Restrtrted Funds-
Grènt5 recelved
Dqslgn¥t¢d Funds..
rithe Fund
Designated Éift5
Sabbatical Reserve
5.738
922
4,189
LO,430
110,8201
5,348
1,042
4.189
120
10,849
120
10,430
110,8201
10.579
Total Fund%
1,046,862
104,417
180,5491
1,070,730
Designated fund5 fvrin part of the unresiricied fund5 of the church tli8t have bepn sei aside for a p3nicul8r purpose
by the trusieÈs. The purpose of e3ch fund is a5 follows..
31 A Community Infrastructure Levy grant Was awarded by Elmbridge Borough C¢uncil to improve the of the
buildlng snd enhance the dis8bled entrance poinis.
bl The church distribuits IO% of its annual income to tsther ¢h3rities and worrhy causes both ID the VK and abroad.
el Designated gifts represent funds of rhe church feceived 8nd sei a%ide by the trustÈe5 for specific charitable purpos@5.
dl The Sabbatical Reser￿ 15 Set aside to fund the periodicsabbètlca15 of mlnister5 of thE church.
io
Trustees, Remuneratlon ond Related Part Transartlons
DUrif￿lhe year. the following amounts weTe pald to trustee5 In respea of rernuneraiion..
Reverth)d Stephen Austln-Spark5
2023
202Z
51ipend
Penslon
34.650
4.095
38.745
In addirion to the abovÈ remunerarion, the trustee received expenges totallin8 Inil12022'. £1,398> In respect Df
travel, subsistence, books, telephone, Internetand 5undries.
There were no reloted party transaction5 during rh£ year other than those d15closed above12022.. £nill.
Page IZ

Walton Ba
tist Church
Notes to the Financial Statements
for the Yeor Ended 31 Decewnber 20Z3
li
Pensions
The Church Is an employer participating in a pension scheme known 35 the Baptist Pension
Scheme.I'the Scheme"), which is administered by the Penslon Trustee IBapt15t Pension Trust Limited).
The Scherne 15 a separate legal entity and the assets of the Scheme are held 5epar3tely from those of the
Employer and the other participating employers.
For any month, each partlcipatin8 employer in the Scheme pays tontrlbutiofjs as Set out In the
Schedule of Contributions In force at that time.
The Scheme Is cO￿51dered to be a tHulti-employer scheme as described in Section 28 of FRS 102.
Thi5 is be¢3use it is not possible to 3ttrlbute the Scheme'5 assets and Ilabllities to specific employers
and means that contributions arè accounted for 3s if the Scheme were a defined contribution
stheme. The pensions tost5 charged to the SOFA in the year are contributions payable towards
benefits and expenses acerued in that year. plus any impact of deficiency contributSons Isee below).
The Ministw is eli8ible to loin the Scheme.
Slncejanuary 2012, pension provision has been made through tho Dellned Contribution (DCI
Plan within the Scheme. In general, rnernbers pay 8% 01 their Pensionable Income and ernployers
pay 6% 01 mefflber5' Penslonable Income into Individual pension accounts, which Rre operated ènd
managed on beh2lf of the Pension Trustee by Legal and General Life Assurance Society Lirnited. In
addition, the employer pay5 a further 4% of Pensionable Income to cover Death In Servlce benef￿S,
drnini5tr?tion cost5, and an associated insurance policy which provides income protettion for Scheme
members in the event that they are unable to work due to long-term incapacity. Thi5 income protettion
policy has been Insured by Ehe 8aptlst Unlon of Grear Britain wlth Aviva plc. IMernber5 of the Basic
Sectlon pay reduced contfiburions of 5% of PensionaLJle Income, 3nd their employers also pay a total
of 5%>. The further 4% rontribution rate is reduced to 3% for Employer ¢orttribution5 tnade to the
Segregated DC ArranB£mÈnt.
Benefits in respert of service prltsr to l January 2012 are provided through the Defined Benefit
1081 Plan within the scheme. The main benefits for pre-2012 Service were a defined benefit
pension of one eightierh of Final Minium Pensionable Incorne for o3ch yÈar of Pensionable
Service, together with additional pensign in Yespect ol premium5 paid on Perisionable Income in
excess of Minlmurn Pensionable Income. The Scheme, previously known as the 8aptist Ministers,
Pension Fund, st3rted in 1925, but was cI05ed to future accrual of defined benefit5 on 31 DecÈmber
2011.
A formal valuation of the Oefined Benefit IDBI plan was performed at 31 December 2019 by a
professionally qualified Actuary using rhe Projected Unlt Method. The market value ol the DB Plan
assets at the valuatlon date was £298 million.
Pa8È 13

Walton Ba
ti5t Church
Notes to the Financial Statements
for the Yèar Ended 31 Oecember 2023
li
Pensions
contlnued
The traluation of the D8 Plan revealed a deficit of assets compared with the value of liabilities of
£18 million (equivalent to a p3St service funding level o194%1. The Church and the other employers
are responsbile for funding this deficit.
At the end of lune 2022, the BPS signed an agreement with the insurance company Just Group to
secure mernbers, pension benefit5 under the DB Plan. As a result, the Scheme no longer has a shortfall.
A revised st?tement of contriburlons was announced in July 2022 with deficit coniributions from eèch
participating employer in the DB Plan reducine to £1 per month from August 2022. However, the participatin8
employers rernain responsible lor providing a share of any additional funds that the D8 Plan may require
in the future.
The key finar)cial assumptions underlying the valuation were as follows..
RPI price inflation assumptlon
CPI price inflation assumption
Minimum Pensionable Income Increases ICPI plus 1.0% pal
3.20% pa
2.70% p
3.20% pa
Assumed investment returns
Pre-retirement
Post-retirement
2.95QA pa
1.70°A pa
Deferred pension increases
Pre April 2009
Post April 2009
3.20% pa
2.50% pa
Pension increases
Main Scheme pension
2.70% pa
Page 14

Walton Ba tist Church
Notes to the Financial Statements
for the Year Ended 31 DÈc*mber 2023
12
aratives for the Statement of Flnanclal Activities
Notes
Unrosrrlcted
Funds
Restrlcted
Fund$
Total Fund5
2022
INCOME AND ENDOWMENTS FROM..
Donarions and legacies
Tax refvnds
69,786
9,078
18.206
1.610
69.786
9,078
18,206
1.610
13,750
Rent received
Interest received
Grants received
13,750
TOTAL
98,680
13,750
112,430
EXPENOITURE ON:
Ministry
Administration
Tithe payments
Outreach
Designated gifts
44,920
51,310
7.101
3,336
750
44,920
51,310
7,101
3,336
750
13
13
TOTAL
107.417
107,417
NET INCOMEIIEXPENDITUREI
8,737
13.750
5,013
TRANSFERS BETWEEN FVNDS
13,750
13.750
5,013
5.013
OTFIER RECOGNISED GAINSIILOSSESI
defined benefit pension schetne5
20.790
20,790
NET MOVEMENT IN FVNDS
25,803
2S,803
RECONCILIATION OF FUNDS..
TOTAL FUNOS BROUGHT FORWARD
1.021.059
1,021,059
YOTAL FUNDS CARRIED FORWARD
1,046.862
1.046,862
Page IS

Walton Ba
tist Church
Notes to the Financial Statements
for the Year Ended 31 December 2023
13
Missiona
Account and Outslde Causes
Maln Account
Tithe
Fund
Call to
Service
Designated
Gifts
2023
Total
2022
Total
Opening balance
Receipt5
Transfer
5,738
10,430
922
120
6,660
10,550
3,892
835
9,784
16,168
1,042
17,210
14,511
Payments
10,820
10,820
7,851
Closing balance
5,348
1,042
6,390
6,660
Summary Missionary &
Society
Society Support
10,820
10,820
7.851
TOTAL
10,820
10,820
7,851
TOTAL DISTRIBUTION
Personal/Missionary
10,820
10,820
7,851
Page 16

Walton Ba
tist Church
Notes to the Financial Statements
for the Year Ended 31 December 2023
MAIN ACCOUNT
13
Misslonar Account and Outside Causes
Continued
Socleties and Other Causes
Tlthe
Fund
Designated
Gifts
2023
Total
2022
Total
Auckland Christian youth hostel
8arnabas Fund
BMS Worldwide
BMS Worldwide Ukraine 3ppeal
Compassion
Father Heart Ministries
Hope UK
Jews For Jesu5
Tearfund General
YWAM Sussex
843
843
1,686
1,686
519
1,109
1,109
450
1,339
554
1,686
1,686
1,686
843
843
843
1,547
843
1,686
843
843
843
554
554
1,109
554
1,547
843
10,820
10,820
7,851
Page 17