Charity registration number.. 1128093 Emmanuel Baptist Church Annual Report and Financial Statements for the Year Ended 31 December 2023
Emmanuel Baptist Church Contents {¢ontinued) Reference and Administrative Details Trustees, ReF)Ort Statement of Trustees, Responsibilities Independent Examin8rfs Report Statement of Financial A¢livilies 5106 Balan Sheet Notes to the Financial Statements 81016
Emmanuel Baptist Church Reference and Administrative Details Chairman Darren Bovis-couller Trustges Darren Bovis-coulter Mrs H Evans Mrs E Munden Mr N Bird Mrs A Hodges Mr N Offord Dr Olayinka Adewumi Adewole Mr W Husthwaile Mrs C Childs Charlty Reglstration Number 1128093 Principal Office Weslem Terrace Falmouth TR114QJ Independent Examiner GVV & Co. Ltd Independent examiner Chartered Certified Accountants and Business Advisers Waterside Court Falmouth Road Penryn TR10 8AW Page 1
Emmanuel Baptist Church Trustees, Report The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2023. Objectives and activities ObjeGts and aims The principal purpose of the Church is the advancement of the Christian Faith according lo the principle of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and other parts of the world. Public benefit The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Structure, governance and management Nalure of goveming document The charity is controlled by ils goveming document, a deed of trust and conslilules an unincorporated charity. The annual report was approved by the trustees of the charity on behalf by.. and signed on its Mrs H Evans Trustee Page 2
Emmanuel Baptist Church Statement of Trustees. Responsibilities The Iruslees are responsible for preparing the Iruslees, report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice} and applicable law and regulations. The law applicable lo charitie5 requires the trustees lo ppare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resOLJrS of the charity for that period. In preparing these financial stalemenls, the trustees are required to.. select suitable accounting policies and then apply them consistently,, obseNe the methods and principles in the Charili8s SORP., make judgements and estimates that are reasonable and prudent., slate whether applicable accounting standards have been followed, subject lo any material departures disclosed 8nd explained in the financial statements,. and prepare the financial slalements on the going concem basis unless il is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accufficy at any time the financial position of the Charity and enable them lo ensure that the financial statements comply with the Charities A¢1 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The Iruslees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable compansls website. Legislation governing the preparation and dissernination of financial statements may differ from legislation in other jurisdictions. Approved by the trustees of the charity on nd signed on ils behalf by.. Mrs H Evans TrL¢slee Page 3
Emmanuel Baptist Church Independenl Examinerfs Report to the trustees of Emmanuel Baptist Church I report to the trustees on my examination of the accounts of Emmanuel Baptist Church for the year ended 31 December 2023. Responsibilities and basis of report As the charity trustees of Emmanuel Baptist Church you a responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'lhe Acl'l- I report in respect of my examination of the Emmanuel Baptist Church's accounts carried out under section 145 of the 2011 Act and in carryqng out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confinn that no material matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect.. 1. accounting records were not kept in respect of Emmanuel Baptist Church 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 accounting requirements concerning the form and content of accounts sel out in the Charities IA¢counls and Reportsl Regulations 2008 other than any requirement that the accounts give a 'lrue and fair view, which is not a matter ¢onsidered 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 drawn in this report in order lo enable a proper understanding of the accounts to be reached. Deborah Warburton FCCA Independent examiner ACCA Chartered Certified Accountants and Business Advisers Waterside Court Falmouth Road Penryn TR10 8AW Dale.. Page 4
Emmanuel Baptist Church Statement of Financial Activities for the Year Ended 31 December 2023 Unrestri¢t8d funds Restrlcted funds Total 2023 Notg Income and Endowments from- Donations and legacies Other income 121,322 41.635 450 121,772 41,635 Total income 162.957 450 163,407 Expenditure on: Ministry expenses Administration Property operating costs Repairs & Maintenance Mission & Ministry Other Costs 124,7561 124,8071 127,2711 176,4551 127,817) 8,850 124,7561 124,8071 127,2711 176,4551 127,8171 9,545 695 Total expenditure 189,956 695 190,651 Net expenditure 26,999 245 27,244 Net movement in funds 126.9991 12451 {27,244) Reconclllation of funds Total funds brought forward Total funds carried fotward 200,238 3,784 204,022 14 173,239 Unrestricted fund5 3,539 Restricted funds 176,778 Total 2022 Note Income and Endowments from: Donations and legacies Other ineome 261,040 27,425 so 261,090 27,425 Total income 288,465 50 288,515 Expenditure on: Ministry expenses Adminislralion Property operating costs Repairs & Maintenance Mission & Ministry Other Costs 13,4111 125,7661 119,4871 153,3551 112,7771 18,1031 13,4111 125,7921 119,4871 157,6601 112,7771 19,3211 1261 14,3051 11,2181 Total expenditure 1122,8991 15.5491 1128,4481 Nel incomellexpenditure} 165,566 5,499 160,087 Net movement in funds 165,566 15.4991 160,067 The notes on pages 8 to 16 form an integral part of those financial statements. Page 5
Emmanuel Baptist Church statement of Financial Activities for the Year Ended 31 December 2023 (continued) Unrestrictgd funds Restricted funds Total 2022 Note Reconciliation of funds Total funds brought fotward 34,672 9,283 43,955 Total funds carried forward 14 200,238 3,784 204,022 All of the charity's activities derive from continuing operations during the above periods. The funds breakdown for 2022 is shown in note 14. The notes on pages 8 to 16 fom an integral part of these financial slatemenls. P8ge 6
Emmanuel Baptist Church (Registration number: 1128093) Balance Sheet as at 31 December 2023 2023 2022 Note Fixed assets Tangible asset5 7.915 2,970 Current assets Debtors Cash al bank and in hand 5,467 183,767 6,132 217,816 10 189,234 223,948 Credltors: Amounts falllng due wlthln one year Net current assets 11 7.454 7,479 181,780 216,469 Total assets less current liabilities 189,695 219,439 Creditors.. Amounts falling due after more than one year 12 12,917 15,417 Net assets 176,778 204,022 Funds of the charity: Restricted income funds Restricted funds 14 3,539 3,784 Unrestrlcted Income funds Unreslricled funds 173,239 200.238 Total funds 14 176,778 204.022 financial statements on pages 5 10 16 were approved by the trustees, and authorised for issue on nd signed on their behalf by.. Mrs H Evans Trustee Mr W Husthwaitg Trustee The notes on pages 8 to 16 form an integral part of these financial statements. Page 7
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 1 Accounting policios Statemant of compliance The financial stslemenls have been prepared in accordance with the second edition of the Charities Sialemenl of Recommended Practice issued in October 2019, the Financial Reporting Stsnd8rd applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. Basis of preparation Emmanuel Baptist Church meets the definition of a public benefit entity under FRS 102. The accounts (financial slalemenlsl have been prepared under the historical cost convention with items recognised al cost or transaction value unless otheNise slated in the relevant nolelsl lo these accounts. Going concem The trustees consider that there are no material uncertainties about the charitys ability lo continue as a going concern. Income and ondowmonts Voluntary income including donatlons, gifts, legacies and grants that provide core funding or are of a general nature is recognised whell the charity has enlillemenl lo the income, rt is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacles Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Donated setvices and facilities Where services or facilities are provided lo the charity as a donation that would normally be purchased from our suppliers, this benefit is indLJded in the financial statements at it's fair value unless il's fair value cannot be reliabty measured, then al the cost to the donor or the resale value of go(Ids that are lo be sold. Investment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, il Is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly allribuled to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support wsts are allocated based on the spread of staff costs. Page 8
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Charilable activities Charitsble expenditure comprises those costs incurred by the charity in the delivery of ils activities and services for its beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Support costs Support costs include central functions and have been allocated lo activity cost categories on 8 basis consistent with the use of resources, for example. allocating property costs by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance with constitutional and slatulory requirements, including audit, strategic management and trustees meetings and reimbursed exp8nses. Taxation The charity is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the èxtent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets or more are initially recorded at cost. less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclatlon and amortlsatlon Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any eslimaled residual value, over their expected useful economic life as follows.. Asset class Fixed assets Depreciation method and rate 2C)Yo slraighl line Trade debtors Trade debtors are amounts due from customers for merchandise sold or seNices perfomied in the ordinary course of business. Trade debtors are recognised Inllially at the Iransacllon price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that th8 charity will not be able to collect all amounts due according lo the original terms of the receivables. Page 9
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Borrowings Interesl-bearing borrowings are initially recorded at fair value. nel of transaction costs. Interest-bearing borrowings are subsequenUy carried al amortised cost, with the differ&nce between the proceeds, nel of transaction costs. and the amount due on redemption being recognised as a charge lo the Statement ol Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as ¢urTent liabilities unless the charity has an unconditional right lo defer settlernent of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general funds that are available for use at the Iruslees discretion in furtheran of the objectives of the ¢harily. Reslricled income funds are those donated for use in a particular area or for specific purposes, the use of which is reslricled to th8t are8 or purpose. Penslons and other post retirement obligalions The charity operates a defined contribution pension scheme. Contributions payable to the charivs pension scheme are charged lo the Statement of Financial Activities in the period to which they relate. Flnanclal Instruments Classification Financial assets 8nd financial liabilities are rocognised when the charity bewmes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are Classified according to the substanc& of the Contractual arrangements entered into. An equity instrument is any contract that evidences a residLJal interest in the assets of the charity after deducting all of its liabilities. Page 10
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Recognition and measurement All financial assets and liabilities are initially measured at transaction price lincluding Irans8Ction coslsl, except for those financial assets classified as at fair value through profit or loss, which are initially measured al fair value Iwhich is normally the transaction pri excluding transaction Costs), unless the arrangement conslilutes a financing Iransaclion. If an arrangement constitutes a financing transaction, the financial asset or financia5 liability is measured at the present value of the future payments discounted al a market rale of interest for a similar debt inslrumenl. Financial assets and liabilities are only offset in the statement of financial position when. and only when there exists a legally enforceable right to sel off the recognised amounts and the charity intends either lo sellle on a nel basis, or lo alise the 8ssel and settle the liability simultaneously. Financial assets are derecognised when and only when al the conlraclual rights to the cash flows from the financial asset expire or are settled. bl the charity transfers lo another party subslanlially all of the risks and rewards of owneTship of the financial asset, or cl the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another paty. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 2 Income from donations and legacles Unrestricted funds General Restricted funds Total funds Donations and legacies.,. Donations from individuals Gift aid reclaimed 101,414 19,908 450 101,864 19,908 Total for 2023 121.322 450 121,772 Total for 2022 261.040 50 261,090 3 Investment income Unrestricted funds General Total funds Interest receivable and similar income., Interest receivable on bank deposits Sundry income Rental income received 7.131 12.226 22,278 7,131 12,226 22,278 Total for 2023 41,635 41.635 Total for 2022 27,425 27,425 Page11
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 4 Analysis of govgrnance and support costs Governance costs Unrestrlcted funds General Total funds Independent examiner fees Examination of the financial statements 900 900 Total for 2023 900 900 Total for 2022 850 850 5 Trustaes ramungration and axponses No trustees, nor any persons connected with them, have reiVed any remuneration or expenses paid from the charity during the year. 6 Staff costs The aggregate payroll costs were as follows= 2023 2022 Staff costs during the year were- Wages and salaries Pension costs Staff costs 37,754 2,521 10,028 11,403 2,232 9,174 50,303 22,809 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2023 2022 No Ministry Administration Caretaker No employee received emoluments of more than £60,000 during the year Page 12
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) 7 Taxation The charity is a registered charity and is therefore exempl from taxation. 8 Tanglble flxed assets Other tangible fixed asset Total Cost Al 1 January 2023 Additions 3,917 7,159 3,917 7,159 Al 31 Dember 2023 11,076 11,076 Depreciation At 1 January 2023 Charge for the year 947 2.214 947 2,214 At 31 December 2023 3,161 3,161 Net book value At 31 December 2023 7.915 7.915 At 31 December 2022 2.970 2,970 9 Debtors 2023 2022 Prepayments Other debtors 758 4,709 6,132 5,467 6,132 10 Cash and cash equivalgnts 2023 2022 Cash on hand Cash at bank 60 183,707 217,816 183,767 217,816 Page 13
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 {continued} Balances held by the charity that are not avallable for use by the charity 2023 2022 Balances held by the charity that are not available for use by the charity 2,914 1,372 The Church supports "Christians Against Poverw, the Church holds a bank account on behalf of the local "Christians Against Povew, group. Al the 31 December 2023 there was a balance of £2,914 12022=£1,3721 in this account which has not been included in the Churoh accourbls. 11 Creditors: amounts falllng due wlthln one year 2023 2022 Other loans Other creditors Accruals 2,500 2,589 2,365 2,500 4,979 7,454 7,479 During 2019 a loan amounting to £25,000 was taken out with the South West Baptist Association. The loan is repayable in 10 yearty instalmenis of £2,500. The loan is interest free. however there is an expectation that a thank you offering of £2,500 will be paid once the final repayment has been made. charity.. 12 Creditors: amounts falling due after one year 2023 2022 Other loans 12,917 15,417 Page 14
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 (contlnued) 13 Pgnsion and other schèmes Dèfined benefit pension schemes Baptist Pension Trust Llmlted Emmanuel Baptist church is 8 participating employee in th8 Defined Pension Benefit Plan IDBPlan} of the Baptist Pension scheme. In the recent past a valuation of the Defined Benefit Plan revealed a deficit of assets compared wtth the value of liabilities. As a result of the valuation participating churches in the scheme were required to contribute deficiency paym8nls lo the Defined Benefit Plan. 11 was anticipated that such deficiency contributions would continue until 30th June 2035. However, the Baptist Pension Scheme have entered into an agreement with the insurance company Just Group to secure DPBPlan members pension benefits. Consequently, Defined Benefit recovery contributions have reduc8d lo £1 per month for each employer from August 2022 payment until June 2026. 14 Funds Balance at 31 December 2023 Balance at I January 2023 Incorning resources Resources expended Unrestricted funds General Unrestricted funds 200.238 182,957 1189,9561 173,239 Restricted funds Reslricled funds 3,784 450 695 3,539 Total funds 204.022 163,407 190.651 176,778 Page 15
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2023 (continued) Balance at 31 December 2022 Balance at 1 January 2022 Incoming resources Resources expended Unrestricted tunds General Unrestricted funds 34.672 288.465 1122,8991 200,238 Restricted Restricted fund$ 9,283 50 5,549 3,784 Total funds 43,955 288,515 128,448 204,022 The specific purposes for which the funds are lo be applied are as follows.. During 2023 the Church had the following restricted funds., Fellowship Fund Balan brought forward 3.784 Funds received 450 Expenditure in the year 16951 Balance carried forward 3,539 15 Analysis of net assets betsveen funds Totsl funds at31 December 2023 Unrestricted funds General Restricted funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year 7,915 185,695 {7,4541 12,917 7,915 189.234 17.4541 12,917 3,539 Total n81 assets 173,239 3,539 176,778 Total funds at31 Dgcembgr 2022 Unrestrirtod funds Goneral Restrict9d funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year 2,970 220,164 17,4791 15.417 2,970 223,948 17,4791 15,417 3,784 Total net assets 200,238 3,784 204,022 Page 16