Charity registration number.. 1128093 Emmanuel Baptist Church Annual Report and Financial Statements for the Year Ended 31 December 2024
Emmanuel Baptist Church Contents (Contlnued) Reference and Adminislratwe Details Trustees. Report Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities 5106 Balance Sheet Notes to the Financial Slalemenls 81017
Emmanuel Baptist Church Reference and Administrative Details Chalrman Mr D Bovis-couller Twstèes Mr D Bovis-couker Mrs H Evans Mrs E Munden Mr N Bird Mrs A Hodges Mr N Offord Dr Olayinka Adewumi Adewole Mr W Husthwarte Mrs C Childs Charity Registration Number 1128093 Princlpal Office Weslem Terrace Falmouth TR114QJ Independent Examiner GW & 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 slalements of the charty for the year ended 31 December 2024. Objectives and actlvlti•s Objects and aims The principal purpose of the Church is the advan¢ement of the Christian Faith according to the principle of the Baptist denomination. The Church may also advance education and cary out other charitable purposes in the United Kingdom and other parts of the world. Public benefit The Iruslees confim that they have complied wi(h the requirements of section 17 of the Charities Act 2011 to have due regard lo the public benefit guidaTr published by the Charity Commission for Engknd and VVale$. Structure. governance and management Nature ofgoverning document The charity is controlled by ils g0MIng document. a deed of trust and constilules an unincorporated chanly. The annual report was approved by the Iruslees of the charty on behalf by.. and signed on ils Mrs H Evans Trustee Page 2
Emmanuel Baptist Church Statement of Trustees, Responslbilities The Iruslees are responsible for preparing the trustees, report and the financial slalemenls in accordance with the United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicable lo charities requires the Iruslees lo prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements. the trustees are required lo.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP., makejudgements and eslimales that are reasonable and prudent.. slate whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and prepare the financial slalements on tha going concern basis unless f( is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disc105e wlh reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial slalements comply wi(h the Charities Act 2011, the Charities (Accounts and Reportsl Regulations 2008, and the provisions of the constitution. The Iruslees are also responsible for safeguarding the assets of the eharity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the mainlenanee and integrity of the corporate and financial infomalion included on the charitsble company's website. Legislation governing the preparation and dissemination of financial slalements may differ from legislation in other jurisdietions. Approved by the trustees of the Charity on . and Sign on ils behalf by.. Mrs H Evan8 Trustee Page 3
Emmanuel Baptist Church Independent Examinerfs Report to the trustees of Emmanuel Baptist Church I report to the Iruslees on my examination of the accounts of Emmanuel Baptist Church for the year ended 31 December 2024. Responsibilities and basis of report A5 the charity trustees of Emmanuel Baptist Church you are responsible for the pfftparalion of the accounts In accordance wrth the requirements of the Charrties Act 2011 I'lhe Act'i. I report in respect of my examination of the Emmanuel Baptist chuh.$ accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under se¢lion 1451511bl of the Act. Independent ¢xamlner's statement I have eompleled my examination. I confimi that no material matters have come lo my attention in connection wrth the examination giving me cause lo believe that In any material respect.. 1. aeeounling 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 set out in the Charities IAccounls and Reports) Regulations 2008 other than any requirement Ihal the accounts give a 'true and fair wew, which is not a maller 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 drawn in this report in order to enable a proper understanding of the accounts lo be reached. Deborah Warburton FCCA Independent examinei ACCA Chartered Certffied Accounlanls and Business Advisers Walersidtr Court Falmouth Road Penryn TR10 8AW Dale.. Page 4
Emmanuel Baptist Church ststement of Financial Activities for the Year Ended 31 December 2024 Unrestricted funds Restrlcted funds Total 2024 Note Income and Endowments from: Donations and legacies other income 197.126 26,951 2.250 199.376 26,951 Total income 224.077 2,250 226,327 Expendlture on.. Ministry expenses Administration Propety operating costs Repairs & Maintenance Mission & Ministry Other Costs 134,9121 131,4451 133,3011 {17,1121 136,1781 113,4451 134,9121 131,4451 133,3011 117,1121 136,1781 14,7521 11,3071 Total expenditure 166.393 1,307 167,700 Net income 57.884 943 58,627 Net movement in funds 57,684 943 58,627 Reconciliation of funds Total funds brought fonNard Totsl funds carried forward 173,239 3,539 176.778 14 230,923 Unrestricted funds 4.482 Restricted funds 235,405 Total 2023 Note Income and Endovfflients 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 expense$ Administration Property operating costs Repairs & Maintenance Mission & Ministry Other Costs {24,756) 124,8071 127,2711 176,4551 127,8171 8,850 124,7561 124,8071 127,2711 176,4551 127,8171 9,545 695 Total expendrture 189.956 695 190,651 Net expenditure 26,999 245 27.244 Net movement in funds 126,9991 12451 127.2441 The notes on pages 8 to 17 form an integral part of these financial statements. Page 5
Emmanuel Baptist Church Statement of Financial Activities for the Year Ended 31 December 2024 (continued} Unrestrlcted funds Restrlcted funds Total 2023 Note Reconciliation of funds Total funds brought forward Total funds carried forward 200.238 3,784 204.022 14 173,239 3,539 176.778 All of the charity's activities derive from continuing operations duTing the above periods. The funds breakdLY•vn for 2023 is shown in note 14. The notes on pages 8 to 17 form an Integral part of these financial statements. Page 6
Emmanuel Baptist Church (Registration number: 1128093) Balance Sheet as at 31 December 2024 2024 2023 Note Fixed assets Tangible assets 10,829 7,915 Curront assets Deblo Cash at bank and in hand 6,398 241,018 5,467 183,767 10 247,416 189.234 Creditors: Amounts falling due withln one year Net curront assots 11 12,4231 7,454 234,993 181.780 Total assets less current liabilities 245.822 189,695 Crgdltors.. Amounts falllng due after more than one year 12 Net a$$gt$ 10.417 12,917 235,405 178,778 Funds of the charity.. Restricted income funds Reslricled funds 14 4,482 3.539 Unrgstrictgd income funds Unreslricled fvntjs 230,923 173,239 Total funds 14 235,405 176,778 The fin ncial ststemenls on pages S to 17 were approved by the Iruslees. and aulhorised for issue on .. and sKJned on their behaW by.. Mrs H Evans Trustee Mr W Husthwaile Trustee The notes on pages 8 10 17 fom an integral part of these financial ststements. Page 7
Emmanuel Baptist Church Notes to the Flnan¢ial Ststements for the Year Ended 31 December 2024 1 Accounting policles Statement of compliance The financial statements have been prepared in accordance with the second edition of the Charities Slalement of Recommended Practice issued in October 2019, the Financial Reporting Stsndard 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 slalernenlsl have been prepared under the historical cost convention wth rtems recognised at cost or transaction value unless otherwise stated in the relevant nolelsl lo these accounts. Golng concem The trustees wnsider that there are no material uncertainties about the charitys ability lo continue as a going concem. Income and endowments Voluntary income including donations, gifts, legacies and grants that provide core funding or are of general nature is recognised when the charity has enlillemenl to the income, il is probable that the income will be received and the amount can be measured wlh sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured. Donated services 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 included in the financial statements al rt's fair value unless Il's fair value cannot bg rgliably measured, then al the cost to the donor or the resale value of goods that are to be sold. Investment Income Dividends are recognised once the dividend has been declared and nolificalion has been received of the dividend due. Expenditur8 All expenditure is recognised once there is a legal or constructive obligation to that expenditur8, it is probable settlement 15 required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar ¢osts to that category. Where costs cannot be directly attributed 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 ¢harges allocated on the portion of the asset's use. Other support Costs 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 2024 (continued) Charitable activities Charilable expenditure wmprises those costs incurred by the charity in the delivery of ils activities and services for ifs beneficiaries. It includes both costs that can be allocated diredly to such activities and those costs of an indirect nalurt necessary lo support them. Support costs Support costs include central functions and have been allocated to activity cost Categories on a basis consistent with the use of resources, for example. allocating propety costs by floor areas. or per capila. staff costs by the lime spent and other costs by their usage. Governance costs These include the costs attributable to the charity's compliance wi(h eonslitulional and statutory requirements. including audit, strategic management and Iruslees meetings and reimbursed expenses. Taxation The charity 15 considered to pass the tests sel out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore rt meets the definition of a charitable company for UK corporation lax 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 extent that such income or gains are applied exclusively lo charitable purposes. Tanglble flxed assets Individual fixed assets or more are initially recorded at cost, less any subsequent a¢cumulaled depreciation and subsequent accumulated impaimenl losses. Depreclatlon and amortisation Depreciation is provided on tangible fixed assets so as lo write off the Cost or valuation, less any estimated residu81 value, over their expected useful economi¢ life as follows". Asset class Fixed assets Depreciation method and rate 200 slraighl line Trade debtoys Trade debtors are amounts due from customers for merchandise sold OT services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less prowsion for impairment. A provision for the impairment of trade debtors Is established when there is objective eviden that the charty 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 Financlal Statements for the Year Ended 31 December 2024 (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 Inlerest-bearing borrowings are inth.ally Tecorded at fair value, nel of transaction costs. Inlerest-bearing boriowings are subsequently carried al amortised Cost. wrth the difference between the pr¢xeeds, nel of transaction Costs. and the amount due on redemption being recognised as a charge to the Staemenl of 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 a classified as current liabiif(ies unless the charity has an uncondi(ional right lo defer settlement of the liabilty for al least e1ve months after the reporting dale. Fund Structure Unre51ricted income funds are general funds that are available for use at the Iruslees discretion in furtherance of the objectives of the charty. Restricted income funds are those donated for use in a particular 8re8 or for specrfic purposes. the use of which is reslricled lo that area or purpose. Pensions and other post retirement obligations The charity operates a defined eonlribulion pension scheme. Contributions payable to the charitys pension scheme are charged lo the Statement of Financial Acliv((ies in the period to which they relate. Financial instrumonts Classification Finan¢ial assets and financial liabilities are reeognised when the charfy becomes a paty lo the contradual provisions of the instrument. Financial liabl1leS and equity instruments are classified according lo the substance of the contractual arrangement5 entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of ils liabilrties. Page 10
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2024 {¢ontinuedl Recognition and measurement All financial assets and liabilities are initially measured al transaction price lincluding transaction coslsl, except for those financial assets classified as al fair value through profil or loss. which aTe initially measured at fair value (which is normally the transaction pri excluding Iransaction costs), unless the arrangement constilules a financing transaction. If an arrangement conslitules a financing transaction, the financial asset or financial liability is measured at the Present value of the future payments discounted at a market r81e of interest for a similar debt inslTumenl. Financial assets and liabilities are onty offset in the statement of financial position when, and onty when there exists a legally enforceable right lo set off the recognised amounts and the charity intends erther to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are deiecognised when and only when al the contractual rights lo the cash flows from the financial asset expire or a settled, bl the charity transfers lo another party substantially 811 of the risks and rewards of ownership of the financial asset, or cl the charity. despite having retained some, bul not all, signrficant risks and rewards of ownership. has transferred control of the asset to another paty. Financial liabilrties are derecognised only when the obligation specified in the contract is discharged, Canlled or expires. 2 Income from donations and lagacles Unrestrictad funds General Restricted funds Total funds Donations and legacies., Donations from individuals Legacies Gift aid reclaimed Donations for restricted funds 128,723 47.000 21.403 128,723 47.000 21,403 2,250 2,250 Total for 2024 197,126 2.250 199.376 Total for 2023 121,322 450 121,772 Pa9e 11
Emmanuel Baptist Church Notes to the Financial Statements for the Year Endod 31 December 2024 (continued) 3 Investment income Unr•$tri¢tod fund$ General Total fund5 Interest receivable and similar income,. Interest receivable on bank deposits Sundry income Income from room hire 7,606 270 19,075 7,606 270 19,075 Total for 2024 26,951 26,951 Total for 2023 41,635 41,635 4 Analysls of govemance and support costs Governance costs Unrestricted funds General Total funds Independent examiner fees Examination of the financial slalemenls 900 900 Total for 2024 900 900 Total for 2023 900 goo S Trustee5 remuneration and expenses No trustees. nor any persons connected with them, have received any remuneration or expenses paid from the charity during the year. 6 Staff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year vre- Wages and salaries Pension costs Staff costs 53,684 2,524 11,t140 37,754 2,521 10.028 67,228 50.303 Page 12
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2024 (Gontinued) The monthly average number of persons lineluding senior management I leadership team) employed by the charrty during the year expressed as full time equivalents was as follows.. 2024 2023 No Ministry Administration Caretaker No employee received emoluments of more than £60,000 during the year Page 13
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 7 Taxation The charity is a registered charity and is therefore exempl from taxation. 8 Tangible fixed as$ots Other tanglble fixed asset Totsl Cost At 1 January 2024 Additions 11,076 6.411 11,076 6,411 At 31 December 2024 17,487 17,487 Depro¢iation At 1 January 2024 Charge for the year 3,161 3.497 3,161 3,497 At 31 December 2024 6.658 6,658 Not book value At 31 December 2024 10,829 10,829 At 31 December 2023 7.915 7,915 9 Debtors 2024 2023 Prepayments Other debtors 777 5,621 6,398 758 4,709 5,467 10 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 60 240.958 60 183.707 241.018 183.767 Page 14
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) Balances held by the charity that ar& not avallablo for use by tho charity The Church supports "Christians Against Poverty ICAPI the Church holds a bank account on behalf of the local CAP group. Al the 31 December 2024 the was a balan of £1,66712023'.£2,9141 in this account which has not been included in the Church accounts. 11 Creditors: amounts falllng due wlthin one year 2024 2023 Other loans Other taxation and social security Other creditors Accruals 2,500 693 5,373 3,857 2,500 2,589 2,365 12,423 7,454 During 2019 a loan amounting lo £25.000 was taken out with the South Wesl Baptist Association. The loan is repayable in 10 yearly Inslalmenls 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. 12 Creditors.. amounts falllng due after one year 2024 2023 Other loans 10.417 12,917 13 Penslon and other heMeS Defined benefit pension schemes Baptist Pension Trust Llmited Emmanuel Baptist church has been a participating member in the Defined Pension Benefit Plan IDBPlanl of the Baptist Pension scheme. In November 2024 the transfer of the D8Plan to Just Insurance Group was completed. Just will be responsible for the adminislralion and payment of the DB Plan members, pensions from that dale. 11 is estimated that the DB Plan is in surplus al the lime of transfer. The transfer of the DB Plan to Just has eliminated any future exposure risk to employing churches and the £1 monthly contribution slopped after the October 2024 payment. Page 15
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2024 (continued) 14 Funds Balance at 31 Dècember 2024 Balance at 1 January 2024 Incomlng resources Resources expended Unrestricted funds General Unrestricted funds 173.239 224,077 1166,3931 230,923 Restricted funds Restricted funds 3,539 2.250 1,3071 4,482 Total funds 176.778 226.327 167.700 235.405 Balance at 31 December 2023 Balance at 1 January 2023 Incoming resources Rosources oxp•nded Unrestrlcted funds General Unrestricted funds 200.238 162,957 1189,9561 173,239 RgstrScted Reslricled funds 3,784 450 695 3,539 Total funds 204,022 163,407 190.651 176,778 The specrfic purposes for which the funds are lo be applied are as follows.. During 2024 the Church had the following restricted funds.. Fellowship Fund Balance brought foward 3,539 Funds received 2,250 Expenditure In the year 11.3071 Balance carried forward 4,482 Page 18
Emmanuel Baptist Church Notes to the Financial Statements for the Year Ended 31 December 2024 (Gontinued) 15 Analysiy of net assets between funds Total funds at31 December 2024 Unrestricted funds General Restrlcted funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year 10,829 242,934 112,4231 110,4171 230,923 10,829 247,416 {12,4231 10,417 4.482 Total net assets 4,482 235,405 Total funds at31 December 2023 Unrestrlcted funds General Restrlcted funds Tangible fixed assets Current assets Current liabilities Creditors over 1 year Total nel assets 7.915 185,695 17,4541 112.917 7,915 189.234 17.4541 12.917 3,539 173,239 3,539 176,778 Page 17