Chaiity r•gl•tration n￿b￿r 1129069 AVENUE BAPTIST CHURCH ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 AVENUE BAPTIST CHURCH LEGAL AND ADMINISTRATIVE INFORMATION Tru*t••* S. Ekin8 Isecrntaryl P. TIK)mpson J. Guesi PPott J D￿ken50 L Smrth IAppJint8fl 12 Fobruary 20231 Ch¥rfty ThJmb•r Prlncbpll addr••• 14 Averw TerraL* Essex SSO 7PL Ind•p•nd•nt •x•mln•r PA Stafford FCCA 457 SouthclyJrth Roa¢J South8nd on Se• E$sex SS12PH Bank•rn CAF Bank Lmrt•d 25 Kmgs Hil Av•f#Jo r#Js H IJKÈgt M•i&"r9 Kenl ME194JO Bank On• South$nyon Rry Lor#Jon 185HA Prop•rty Tru•t4•• The Bapttst UnKw CorypJral*)n Baptssl Hovse 129 BrOa(￿Y Oxon OX118RT AVENUE BAPTIST CHURCH CONTENTS Pago Trustees, rwrt lThJependent exwninefs reF¥Yt Slaten*nt olfinwval activil 10 Ba18nr* sheet 11 Statement (rf L¥5h ftthvs 12 Notes to the fmantsal $tst¢ments 13-26 AVENUE BAPTIST CHURCH TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 The truslaes PTe8ent their annual r8port and finan￿81 stat￿ents for th& yeaf ended 31 Decaftknf 2023. The financial sfatèments have been prepa￿d in accord¥nu wilh the Kcounknr@ polirye5 $*1 out in note 1 to the fin¥n¢i81 statements and comply with the th8rity'5 goveming doeurnani. the Charrttes Act 2011 aftd"Accotsnting and Reporting by Charities.. Statement of Recommended Practice applicabl8 to charities preparing th¢ii accounts irs 4¢¢ordonce with the Financial Reporting Standard applicable in the UK and Rèpublic ol116l•nd IFRS 1021 l•ffective 1 January 20191". Obl•¢tlv•• and actfvltlg? The Chgrity ig 9overned by an Approved Goveming Docurnenl whlch slaiej that tho principol puw ol th• charity 15 the advancement of the Chn8tian faith acurding to the principles ol the B?pD'51 denorninaiion, nduding tha dvanc•m8Trt ol education. cornmunrty servic¢ and oth•r such 9onèral charitablg PU(PQses in such parts of the LIK and the world 85 Ihe ¢hur¢h shall d8lernin•. The Church occupies premise3 which 8r¥ hold by the 8Aptist Union Corporation Ltd. on Trusts wNch are •ntrely ¢ompatible with Ihe 8bove. To ochieve the princApal ¢bje¢tive, which sel out abo￿, th8 church provides a variety OF Xlwllieo both lo lis membafship and to Ihe communrty 9enerally. The aim Is lo $how the love ol J•sus Christ in both word deed and to bring peopla into a do$er relalioDshlp with th'm as livino Lord. Central to the work and wrtnéss of the ¢hurch is the provision of regular pubb'¢ 8grvlce3 ¢1 Chrislian worship, Th98 lake pla￿ each Sunday at 10,30 0.m. with m¢$t servic9¥ bairrfj Bv•iloble online onc• the $oNice ha) finish8d lor any unabl? t¢ atlend in person Worship Is by Rav Jan? Guést supportod by a Vafi8ty of visrting prga¢h8rs and prèachers trom within thg church congooaiion. We havè All A90 wernhip orK* o rnonlh and Sund•y Schod on th8 other Sundays for lchool aged ¢hlldien. The trus(ee5 have read the Charity Commi$$ion guidance on Public Be￿fit and ero satisfied that aCliviti•s outtingd above dearly d8rnon$tr8te th8t tho eh8rity 1$ providing a bertefil ￿ the public. We rnlebr8t• th• major Christian Y8stlval$ with specl•l 8eNices and advi*'e$. We see th•se a8P8aally ¥1 hrlstrnas lim&- as an ¢pportunity to involve the Ioc81 cornmunity. Thewe ev8nt5 aw advert158d Iccaty and on the websrta at www.avenuebaptist.ry)m. Link& wth the l¢xal comrnunity and oth¢r thurches in ihe city is somethit)g we are continuing lo build. We have $8&n some 5ucce5s one pilot communty $UFPOrt woject due to ￿UnCh i) Fèbruary 2024, The Church hosts 8 Playgroup, run daily frorn 9.150 rn. 10 12.15 p.rn. during s¢hool tern times. Thi9 1$ suYJject 1¢ ¢eglstr?tion and inspeth'on by Of31ed. In adthti¢n, One of the trustees rngels with Ihe playgroup manager to &n9uro eN8ctive overS￿h1. The playgroup is run as a separate ministry of the chur¢h and is fiJnd•d by chikjcare vou¢hers with è low partnts opting to pay dI￿dY lor the care offef8d. The playgroup keeFB its own accounts and has been very well run for 8 rt￿lber of years, havw¢9 bullt up a surplus to cover salaries and cosls in the event it negds to dose dtswn. At ils 2023 OFSTED in¥pection thè Playgroup was rated"G¢¢d'. This is tsstamenl to thg &fftJ ' ￿ us as I￿￿11 for ¥ll of 2023 plug tho GASDS lor 2023. th the d￿lS1on pendry on r•¢xritin9 0 n*mb8r of st8ff we are ITopeftJl that with favourabl8 utslity eosts and an uplift in giving thai ￿ may bè nearer than evei In recent years lo a sub frjvr figur8 daficit or even break even. own 3 old propertlès and there will *ay8 bo umxpoded repair bills. a150 ￿allY would like to see an increase *n giving frorn rnernbe￿ appr￿131• Ihat Is a me55age in ts5e straitened lin￿& ￿ are nfKlenl that Ihe ol thg church wll Mi b• impacted try its fin8rKial si￿￿10n as we haw ass•ts some cp¥h to fvjnd every1hino w¢ wrrentty want to dD. Hawng looked at Ihe rosthts wrth tr* otP*r trustees wè 8r8 haFPY that ts i*urch is a goin9 ￿nI￿rn. We hava £50.500 deposlt with the Bwtst Union to effectwpy use a5 a r95er¥e shouhl lh• charity need to dose down. We have £450,0(Kl wrth Rathbont5 Ihat even Yrith IWKit W wsll ensure charity can Gontinue to provide public b$n?fit for years to come. Financial sustsin*&"ty i8 slill tr• ￿ed￿rn ￿[rn aim but for th8 fitsi year since COVKI this appears to be nearer Ihan ever. AVENUE BAPTIST CHURCH TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Re$&tyes wlKy The trus￿$ CA)nsKler that mamtsiniry a ￿anra of £50,￿) in the reséNe aco)Unl is a suffic*nt ￿9￿05 po11cy a$ this rePres￿t9 approximatety three months of s•lar*s. I￿uding red￿dan￿ payrnents. and operatsng ¢))st5 lor the churth. This policy wodd not Indudg cash reseNes lor reslnrtsd bj￿1$. Th¢ tW51ee5 con%dof that reserves at thi$ level VAI ensuro th81, in the event ot g swJnift¢ant drop ￿ fiJThJing. I￿Y w*1 b8 ablo to continue thè charity's Gurrent actiV￿e5 while ￿nSidtraI1CM1 15 9i¥ffjn to ways in whth a(kJitthal hjvls may bo raised. Thts level ol fèserve$ has béan maiDtaiMd throul10￿ th8 year. InvèstmontOi¢y Avenue Baptssi Church has short to med¥Jm lerm inv•stmen15 and cash Os W ovt in ￿ b*nc• SI￿aL The investment policy Is ￿ invesl in sttr)rt to m¢th"wn tefrn In¥eS1n￿ntS at Institut￿81 Investment managers and banks Y￿h ethical produ¢ts and where the rak and f8bJms are to meMb￿h￿. M*ornsks The trust&es have assessed the majcfj risks lo thwity is •Xp)I￿ ￿ 8T• gth"$fiad that 3yStams ar• pla￿ to Mil￿data •xposure to the major nsks. Tttg Trustees are uibmatdy responsible frjr thts system of Inwn•l c4jjtr￿ and for rt8 effectNenos3. However, s￿h 8 System Is desynod to rnanag• ralher elimin* the risk of failure 10 achi8ve thé church's obje￿IVeS and can onty Prov￿ reasonatylo and not absolule assurance againsi matgnal misstatsment 011055. Ttte trust889 ar• r¢$ponsibl8 lor Ihe identhficalion and •valuatw ol significant nsks appluble 10 •1 araas of tha church tog¢ih¢r with ttt• design and cyerdbon of$uiiable ￿Thtr￿S. These ￿ks we on a C￿nb"nuing basis 8nd m be asso¢i¥ted with a ol mtemal u •xlemg1 ¥￿(c¢S induding ¢ontrol breakdowns. disruption in Infonnats'on system8. natural ¢at8$trcphe and r8guklOry requiremants. Church pr¢08￿ ts ¢•Jb*r•d by sp•palwt chU￿h insurance und¢wtten by Ax8 to rnibgate somo ol those rok>. Ch•ryl Dunq•y Trn*•urnr Pknn• for luturn P•flod• It is the ¢hurch's io ¢ontinu8 lo serye •$ 8 pla￿ ol wornhp lor the gpirituol banefit ol ts congreg•tyon and as plac8 to support comrnunity offorts th¥t a(e in lin wrth The thrch ￿11 ¢onDnuè 1¢ carry oul ￿rrent adiwts¢S Ih8t s￿ptyt rt's mtssion grrtj otyectyv•s Struetur•, gov•rnanc• •nd manag•m•nt The chgrty 1$ 4 on unincorpornted ass00al￿n. Th8 tnJs¢ees who sery8¢ Ihe year an¢1 w ty) fv date ol vJnature of fv finangJl 3tal8m8nts Wrn.. S. Ekins Isecretaryl M.Aéam3 P. Thompson IRèyvM 12 M•rch 20231 IResvJrt¢4 ￿Apr￿ 20231 (Re59￿d 14 June 20231 IRes¥Jned 12 March 20231 IReSWJ￿d 17 March 20241 Ifteswed 17 March 20241 P. Mulligan J. Roc4(8 C Dungey B ￿llIaMS J. Gues¢ P Pott¥r J thckenson L Smith {ArwAn￿j 12 February 2023) AVENUE BAPTIST CHURCH TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 R&ouifrnent and 8ppointment of trustgos Mgrnbers ol the church are accepted in ac(trdancè with the conststutiDn which requires them to mak8 a public profession of faith in Jesus Christ. preferabty but not compulsorily through bapli5m by immersion. Thè membgrs. Meeting nomiany t8kes pla￿ 6 timès a year including 1 Annual Gènaral Meetmg arKI has th• responsibility for the over311 policy of thè ehurch. In accordsnce with the C?nstrtution the membars appoint up lo 13 Trustees, inelu¢Jing the Secretary and the Treasufef. who together with the Ministèrlsl, are collectwely known as the Diaconate.They are responsible for thè day to day running ol the church s work and witness and the financial and legal aspects ol the charity. All members arÈ èncouraged to lake an appropnate part In the spiritU81 and practical tssks involved in the fvrtheranee ¢f the Gharitable objective. Trustee5 are elected at thg AGM of the Chuieh. Th8 T￿a¥￿Trr aThJ Secretary afè appointed annual￿. and DeacoTrs are appointed trom wthin tha m•mtyership for 8 3 year term. Th$ Deacons are r8quirad to stand down for at least one year following 9 years of r￿ntinuouS seMce_ Miru5ters are trust&os by virtue of their position and remain trustges as long as they ar8 employed by the church. Prior to standing for the position new tnBtees must be nominated and seconded by church mernbèrs ol good stsnding. They aré spoken lo by the Minister who will undertine Ihe legal as well as spiritual side of serving In Churd). New trustees a￿ given ac￿$ tc Charity Commission and 8UGB matenèl to help them understsnd the respcffjsibilibès and •xpectation8 of the posrtion. All TrUSt￿S are required to pass a DBS ¢h$¢k which is maintained up to date throughout thwr tenure and undergo r¢gular Safeguarding training provided by the Eastern Bap￿"stA$S0¢1atlOn. The Diaconate meet rnonthly Hn¢J the agenda li vari￿ depending on Issues that •ris8 bul also has fixed liams cowèring FinaTr￿. Health & Safety and Safgguafding. Any mattèrs that need urgent disoJssion bÈtrrt&n meetings afe coordin8tèd by the Secretary usually by èmail Of Vi(Jeo con1eren￿. There arg 5gparate ¢ommitteÈs for Finance, Premises hnd Safeguarding who have responsibflity for day to day issue5. They refer any mattèrs ol wider concern è.9. major fabric to the Di￿On¥t0 aThJlor wider memb8rship 8S 9ppropri¥ts. Thè Dia￿nate refers any matters of polLy or items of larye expenditure to the birnonthly members meèts"ngs. The church members have the ultimat¢ in all but day to dayllow budget rnatters. Olhermgtl8rs The Ministar and Children & Family Wother re￿1v• r•muneration from the charity as a fvn¢ts"on of their ernploymènt. The ministers remunerab.on 15 based on the annual stipend IncTea5e3 published by the Bapbst Union of Great Britsin. The charity u3es the same perc*ntaga inctsases for the Children & Fafflily Worter. Trustees othèr than the minister and Children and Famity WoFk¢r decide if and by how much their annual remuneration should in¢￿ase by sing th8 BU figures as a guth. Remunera*on Is also set conwdering the general financi81 sltuation of church. The Children & Family Worker was élècted as trustee before th8 Children & F•nI￿ Wother post bècame vacant. After SUCLesshJlly applying lor the post thè church members agreed that the Childrén & Family Workei sIK)ufd continue a5 a twstee of the ¢h8rty observing the cavsats and condition5 111 the church Constitution. The Trustees rnaintaii a register ol related party transackn'ons and thete were none rJJndud8d in 2023. AS part of the Baptist Union ol Great Britain we ar8 able to a￿sS sUPPOrt and practr'cal help with all aspect5 of running tha charity. As a chuTch we adopt BU policies on all rnatter5 such as GOPR. Employrnent, Safer Recruitment and Safeguarding. This 91￿u￿S we are adopting best practice OutSOU¢C4ng 15 limitsd to payroll functsons wharé wa do not have the resource or expertise in hwse to manage this aspect. We also outsourcg m?nagernent of aur rental property to a professional letti￿ agent. The Baptist Union Corporation is noted above as a Iwste?. Th¢y hold b.ue to the church buildings- as they do for many Baptist chur¢he$ in the UK. They have no role In the nJnnin9 of the church but are there in the 8venl the charity ceases to exist. In that event they would 5t8p in and oversee ¢l¢surg of thè church and di8￿>S8[ of assets. They would also be invofved if tha church decided to $911 any ol its properties. AVENUE BAPTIST CHURCH TRUSTEES. REPORT (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 wos asyovÉd by the 8oJd ot iirtslcv> ISFpetaryi rfusItt¢ AVENUE BAPTIST CHURCH STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 Tha trustees ￿sPOnsible lor prèparing the Trustees, Report and the fin¥nty81 statements in accor(Jan￿ wth applicable law and Uniteil Kingdom Accounting Standards (United kngdom Gan•ralty Accept8d Accounting Praciicel, The law applicab￿ to Charits.￿ in England and Wales reqiires the iruslees to prepare finanual statements IDr each rinAncial year which give a true and fair viw of the Slate ol affairs of the charity and ol the in¢(xning rèsources an<1 applicatyon ot resources of the ¢harity lor that year. In preparing the6e fin¥n¢ial statemenle, the trustees are faqulred to.. ielect Suitab￿ a¢counling policies and th•n apply thom ¢onsistently,' obsèrw the mtlhoJ$ and prinGlples in thé Charl*.￿ SORP". - make jtydg&mnts and estimates that are feason?bl8 and prudent,. Stata whtlh&r applic4bie a¢￿unIlng standards hava b8en fello￿d. subject to any malarial departures discjosed nd explained in the financial 61a18rnents', ond pr•p&r• the finonclal 318tornenN on the geing ¢onc8m bas15 unle8$ 1118 inapproprlats to pres￿ that the ch will continua in oper81i0n. The twstses are re$ponsibl8 for keeping 8uffi¢lont a¢¢ouniing r8cordg that 4i3dose wilh ￿¥Sonabl8 accuracy a19ny me the financlal position ol thg ¢harity and en8bla them to ensure thgt the fin3nti81 siatgmenls comply with tht Ch8ritiÈs Act 2011, tho Charity (Accounts and RepoFtsI Regulations 2008 ond the provisiong of the trusl d¢ed. They are al30 responsibl0 for $al•guarding the assats of the ¢h8rfty and hen￿ for t8kiryJ tsasonabl• itOP8 lor the pr&venlion and d•tscllon ol Iiaud and other iwukr1t￿8. AVENUE BAPTIST CHURCH INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AVENUE BAPTIST CHURCH I report to Ihe tru$tee$ on my ewinatw of tho ffinantial stslements ofA¥errt* Bapti8t Church Ilh• ¢haityi for the year ended 31 De￿mber 2023 Rt•ponslbllltl•s and b•818 ol r•port As trustees of the Charty you affj responsiblo for preparatron of Ihe fmanc4al ststements in ac￿r￿ance with the reouirements of the Charth•S A¢t 2011 (the 2011 Acti. I report in respecl of my examinat￿n of ￿ tharity$ f￿ancial statomonts carried out under se￿iDn 145 01 the 2011 Act. In carying my examination I have lolky+￿￿ an Ihe aOKablg Directs"C￿ 9iven by the Charity Commission under 8eCtion 1451SKbl olfv 2011 Art Ind•p•nd•nt •xamln•rfs 8t•tsm•nt Your atténtion is drawn to the fact that the charty h•$ prepored finanryal ststernents in accordart8 wrth A¢counting nd Reporting by Charib•s proporing their ri 3tt0fdan￿ the Finanual Reporl'ng Standard applicabt• In the UK and Rttpublic of Ireland {FRS 1021 In WBlerenc4 b) the Acc4Juntw and Roporting by Charitses Statement ol Recommended Practsc• issued on 1 Aprit 2005 which is r8lerr*d to in the extant regulatrons but has now b&9n wilhdrnwn. l understand th81 ￿.5 h¥$ been £￿9r lor fmancial ststements to provtyJ8 a tnje and lair Mew In a￿ordanCe with Generally Acupled Accountmig Pr¥¢tttr ofkcts.ve lor repMNig p•rK#J$ beginNrYJ on or after 1 Januwy 2015. I h¥ve cornpleted my examinab"on. l oyfiftn Ih•t no mat*rs have o)me w my •ttenb"on in c4nn&*Jn ¥Yith th eXaM￿allOn giving mo ¢8U8e to believe thai in any mat•nal resp8d. account*)g r•w*J$ w•re not kept in resp8ct oftM chW a$ Nwr¢d by Section 130 of 2011 Act,. or the financial stowm*nts do not accord wrth IhDso rècords, or the financial statements dc> fv)t c￿lY wilh the appl&¥J8 f•wiromènls cont*mir9 the foTh ancl content ol 9¢￿￿niS set cut in the Chanl*s (Accounts and Reporfs) R•gulaty'onJ 2008 other than any req￿remIn1 Ih81 the 4cccunls give 8 ta￿ and tsir M¢w 1$ not a rnalter consi(J8r8d as part of an indppendent exam￿allon. I h•¥e no c4nc•ms 8nd cthne atto88 Th) other matterd in COnn￿"¢)n vlith th• eX•mi￿ti¢￿ to which attent￿n should bè drawn in Ihis r•port in orvjer to •nab￿ a prO￿r vnd8rstaTrJifvJ of th• financial st8tements to b• roo¢h•J. A Stafford FCCA 457 S¢ulh¢hur¢h Road South8ThJ on Seo Essex SS12PH AVENUE BAPTIST CHURCH STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unre8trleted Re*triet•d fund$ funds 2023 2023 Totsl Unmvkt•d Reatrict•d nds funds 2022 2022 Total 2023 2022 Not•s Income from- Donobon5 and18gac*s Charilabl8 activities Inveslments 138.192 24.550 24.453 17.001 153,193 24,550 24.453 91,707 13,956 25,121 10.000 125 101,707 14,081 25.121 Totsl incorn• 185,19S 17,001 202,196 130,784 10,125 140,9)9 Charrtabte acbmties 159,792 14.017 173.809 170.926 9,946 180.872 Net gain51llossesl ¢ investment5 10 21.81e 21,816 191.0551 191.0551 Incomgll•xpenditur•l and movement in lunds 47.019 2,984 50.003 1131.1971 179 (131,0181 R¢con¢iliatlort of funds.. Fund belan￿ at 1 January 2023 559.752 31,898 591,650 890.949 31,719 722.66e Fund balancès at 31 D•¢emhr 2023 606.771 34,882 641,853 559,752 31,896 591.650 ststanent of financial adiwts.es indudes all gains and1os5es ￿n￿ed in the year. All income and expènditurtr dorive frtyn cnnts'nuing activrties. 10- AVENUE BAPTIST CHURCH BALANCE SHEET AS Af Ji DECEtrf8ER 2023 2022 fl%ed•5$¢1• 12 4¥ 4rfT.273 4W55 Curverjt aS*rf6 Di1￿0t$ C881? tsi I￿•k and lrt h 1S 13.1fAI 133AL¥I 111.7S8 154.761 Id6.580 ¢rndllgry- MnYJurti# l•lllng dvo wllhl one yeèr 46 ia2r 8.4ffS NM L¢5 IX..555 Totsi aSSrts l¢ss £urrpnl Ilatsllitlgs 41.653 yJi. tlw tun09 Ot ihp Chaffly kn¢4)rh* iuntb 31JSP 641.05i 591 S Ekin% ISFv*ryl TnFste& AVENUE BAPTIST CHURCH STATEMEKf OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 Cash from operatlng a¢tyil*s Cash absorbed by operatior 157.4931 169,8121 In¥•stlng activitiès Purchase oftsngiNe fixèd assets Purchase of investmènts PrcKeeds from dtsposal of invÉ$tnwnts Invejlment income rec8iwJ 16881 {21.5571 33.641 24.453 145,8481 47,122 25,121 N•t cash g•n•ratèd from In¥estir•J ac￿VitI 35.849 26.395 N•t cash used In fi￿nCing actmts N•t do¢r•••• In ¢a9h and ea8h eqwv•knnts 121.6441 143.4171 Ish arKI cash ¢quNalents at ofyear 133.400 176.817 C•sh and ¢a$h •quiv•l•nts #tend oly•ar 111,756 133.400 12- AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounllng ￿¢1¢5 Charity Intorn￿tiort Avenue Baptist C￿r&I is a c*arifat4e unwxuporated assooabon is governed by its Th￿$￿"t￿￿on dated 26th July 2015. This enlity 4$ a publi benefft ￿. 1.1 A¢countinq conventkon Th? financial staiÈments have been prepared in ac£ordance wilh the charitys o)nskn"tubon. the Charit*s Act 2011, FRS 102 "The Financi￿ Rewrtlng Standard ap￿iCab* in the UK Republic ¢1 I￿land. I"FRS 102.1 and Charit*s SORP 'Accs)unbrvJ anil Reportiro by CharitEs' St*ment of Recommended Practi aptdicable tts chanb'es prepaftry Iheir accounts in 8¢xordanr8 wth the Financial Rew)rting Slandard applicabte in the UK and Rew*)k of IrelaThJ IFRS 1￿2r letkn8 1 Jonu?ry 20191. Tr chanty is a P￿) Benefft Enw as defined by FRS 102. The finanoal sktements have dep?rtgd fw ts Chanl*s IArAX)Lwts ard Repoilsl Regukkn"ons 2008 onty to the ?xtEnt reqwred to proinde a true lar v*w. This departure has invofved following the Statement of Recommendèd Pra¢bc£ for chartigs FRS 102 rather than thè version ol the Statement of ReC￿mended Pradice whth rs referred itt In tre Re9￿atiOnS bui which has sineé been witslrawn. The f•)aroal statements afe prepwed in sterting. is Ihe fvnLb)nal cJJmncy of ttE charity. Mone amounts In t￿se finanoal statefflerts a￿ round8d to the nea￿1 L The finanryal stat•nents habe I￿rt pr8p3r*J urthr the woital cost wnv8nbon. The wncipal accounting p￿Ic￿S adopled are set oui b¢kw. 1.2 Golng con¢•rn Al Ihe time ol approwng Ihe finanrial 5talEments. ts trustees have a roasonable expacIati￿ that the chanty has adequate resourtss to conbnue in (Verats￿4 eXtsten￿ lor the foreseèable future. Thus th• trLBtees ntinue lo •Jopt the goir¥J corKem baSLS of arLountirKJ in p￿par1roj thg fina￿)a1 statements. 1.3 Charitable lunds Unrestricted are aYa￿e for al the dxretp)n of the twsiees in ftJrtheraKe of their chantsble objectives. RwtrKteO fundy ar• sufy'ect to sreots eor¥JrfW￿8 by donor5 a5 to h¢)w rDay bè sy as spwalty desi9n8ted by ¢he trustees. PUrpC￿ aThl use5 of tho re51nrtÉd l￿d5 are set out in the notss to ttle financial statements. 1A kncom• Income is recognsed wl*n the chaty is Wly gnthlkd to il aft¢r any twlowmance o)ndit¥)ns ha¥é b8•n met, Ihe amounts cw be measured rnlobty. wd it ts pyobatlo 1hat Ir￿È wdl te T￿eNert. Cash d0That￿5 a￿ ￿c03n￿￿ on receyL Other donalvjns are recwtsed once the charity has been nots"f￿d of the donation. unless perfomaKe ￿￿itK)rts requwÈ defeff￿ of ltte amount. Incoff* tsx recoverable in relatty)n to (k)nations r￿e1Ved urKler GiftAhJ ord8eds of covenart B rgcognised al t￿ knie of the donotion. GrftAbl LS recognised in the acLxunbng yearthe rèlevant ¢Jonath(Trn is recryniwj. L8gaoes are recognised on retript or otheTh¥se rf has Mtsf*d of an impending dEtributhon, thè amount is knovffl. rec*ipt is expedaj. 11 the ar￿U￿1 is nol krthwn, the I￿acY is treated as a c£)ntNwit asset. Grant In￿￿¢ 15 ￿cOgniSed when kgaty to rt after any Ferfo￿anCe Nndlbeffj have been met. the omounts can be ffleasLxed rel10￿1y. is probat48 that incune wll be re¢$￿0. 13- AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ounilng pollcl•s IContinu¢dl 1.5 Expendlture Expenditure is ￿CogniSed onc8 fvro is • leg81 or constnJctiv• obligab.on to transfer ecgnorn￿ benefit to a third party, it 1$ Probab￿ that a Iransfer ol econofflK benefits will be required in 5eNement, and the amount of the obligalion can be measu￿& feliably. Expenditure is elassified by sctiwty. The CA)sts ol •a¢h 8¢tivity are ffjade up ol th• lolal ol dirttt Cost8 and shered rJ)sts, including support ¢OSts inv¢lved in undertakin9 each activity Direct rA)Sts attn'bulabl8 to a single activity are alloc8t8d diréctly to that activity. Shared costs which ¢ontribule lo more than one auivity and support costs whi¢h arg not attributable to 8 single a¢iivity are apportioned b8NY4on thosè acts'vrtKg8 on a ba61S consistent with the us8 ¢1 re$ourc¢s. C¢ntral staff costs are 8lloeated on the ba¥18 ol bme 8pent, and d8pr•eiatiort tharge5 are allocated on the portlon ol asset's use, 1.6 Tanqlbl• fftx•d 4•$•ts Tangiblo fixsJifyf apparent from other seurces. The estimates and associaled assLmPth)ns are based on histori¢al experience aNI other fa¢tot5 that arè Cons￿ered to be ￿￿vanl Actual resutts rnay drf•r from the58 est￿ateS The estimates and undedyng aS5LWnpt￿ are reYEV￿ on aTh I￿￿n9 basis. Revisws to accounttng estimatss are ￿09ft1$ed in the period in the esbmzte r6 ￿vIsed wher* the rev￿lOn affects ￿lY that peThJd, or in the pwtyj reMS￿n and future per¥)ts vthere revigon afvcts both current and future pewvyjs. 15- AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR fHE YEAR ENDED 31 DECEMBER 2023 Incom• from donatlons and lega¢los Unr•strict£d Re¥trJctsd funds funds 2023 2023 Total Unwtri¢ted R•8trlcted fund8 fund8 2022 2022 To￿1 2023 2022 Donations gnd gifts Legaeiès rècÈivable Gener41 grants r$¢ewable Donated goods and sèfviees 88,197 3.551 91.748 83.539 8.168 83.539 8.168 10,000 13,450 13.450 10.000 47,9g5 47.995 136.192 17,001 152.193 91,707 10,000 101.707 I￿oMe Irom ¢haritsblè aetFvIt Unrnstrietsd Rogtrlcted funds fvndg 2023 20Z3 Totsl Unrg8trlcted R•8tri¢t•d fund8 funds 2022 2022 Total 2023 2022 Donations r￿1ved I other organisations Chariiablè réntal Ineomè 125 125 13,956 24.550 24,550 13.956 24,550 24,550 13,956 125 14,081 Incom• from invo$tments Unr¢•trl¢tsd Unrnstrictsd lund¥ fundg 2023 2022 Rental ineome Income from list•d im$knents Interest receivable 6.882 13.868 3.723 10,200 13.889 1.232 24.453 2S.121 16 AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Exp•ndltur• on charltsble Charltablo a¢￿¥111 2023 Charftsbl• xtivltl•s 2022 Dlr•¢t ¢o$t• stsff CD¥t8 Depreciation and imp8imient Prgllllses COStB Events. organisats•ns and M￿310￿3 Adfflinislration expendllure Leg81 and professional Aceountancy lees 76,791 6,670 47,779 6,045 9,577 7,779 6,180 71.tr)5 2,456 62,605 5,849 9,865 7,751 2,850 180.821 163,281 Grant fvndiw of acts'wt￿d9Is9e note 71 12,968 17,591 173,809 180,872 An•ly•l* by lund VnreJlriCted hjnds R•sm'ct6d lund8 159,792 14,017 170.926 9,946 173,809 180,872 Choritable expenditure is allocBted befften re$lrictgd 8nd unmstrict¢d lunds based the dire¢t olation of th• xpendilure to the purpose ol tho frjnd. As salariès and employmonl benefits relatg lo tha gener81 wnning of the charitoblo actmtws these are ￿n(l•d through unrestricted ￿nds. As the entty PUF5Uè9 8 slngh ¢har#8ble adivty. expendifvtr¢ does not need to be 8lbrated betsveen 8Ctl¥At￿$ AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Gr¥nts payabl• 2023 2022 Grants to In$￿tu11¢ns'. Bapt15t Horne Mis3*)n- m195M SUFPOrt Bapt￿$t Missionary Soci¢ty- missm support Mcmillan Cancer Support OEC AfrJhanisian Ap￿31 H•vens Hosyc•- Herd In City L¢prosy Mi5sion- gifts I￿￿￿￿￿ by thurth p¥ssed on Int*rnatson81 Needs UK Order ¢1 St Stanislas Gweat Brrtgm A580oated Tern10￿9 Yardafft Folk Orthe$tra Winter Gardens- Ml88icm sUp￿rt Olher 4,800 e,000 6.Lk)O 450 501 278 350 1CJ) 5,290 I,OQO 12,988 17,591 The caority ￿ m*Je sNnfftant grnntg to instilutirw in year in order to $LVPQrt mi$sK)ns or to ¢n gifts recowd by tr• church and pa33e¢ on to inslrtub"oro. Tru•t••• None ol tho trusloes rec*wJ •ny r¢mu￿rat￿ of expgnws lor Ihei¢ ro￿ 45 a Iru5t••. The lolknvity tiiNiees ar• •mpWd as ol thè cfvjrd). as tWI ¥$ hwn9 a ro￿ in th• to day runniro of th& chur¢h •TrJ therefore forffl key managemont. Their remunofaD¢n govemed by th& ¢h•nty's consblubon. 2023 R•mun•r•¢kn P•Th•lon Contrlbu¢ion 26.950 3,408 4.494 418 10.707 Tolal J Gu89t J Kiwin Lsmith 30,358 4,912 10.903 2022 R•mun•rdlloh P•n•ion Conlrfbutlon 13.287 1,336 15.095 Totsi J G￿$t 14,60S 15.755 AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIIDED 31 DECEMBER 2023 empl¢y••s Th& overage rnOnth￿ number 01 employees d￿rI￿ the ￿rW#S.. 2023 Numb•r 2022 Numl Employmént 2023 2022 Wages and salaries Social sÈ¢urity cKJsts Othor pertsion cL)5ts 71.857 252 4.682 63.670 8,235 76,791 71,905 The ch¥ity ornployed 2 fijll lyne staff tJuriNJ year tsno membfj￿ of staff dwn9 the yo8r. The ful lime equiv*nt number of staff represenknd 1 thjl t¥no of stsff. There(Dr• ¢ntyty ha• M lime 8qUIV41eni st8ff in the year of 3. Ther• w•ro no ¢mploye•$ whos• anrwol reM$Jw*￿ was more than £eo,¢)J). 10 0•ln• and lo*•M ¢)n Inv••tm•ni• Unrnitri¢t•d Unr••trbci•d funds 2022 2023 Goinslll¢$$a$l ansirwJ on. Rovaluation ol inveslm*it¥ S* of in¥g$tm8rts 22.417 18011 184.1471 16,9081 21.618 191.0551 11 Tax•llon harity is exempt from twty)n co ts tecarye ail rts is ¥pbed for rjwiiafile pu￿￿￿. 19- AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Tanglble flxod ?¥80ts and 11tt5fftBs Camput•T Matoi ¥èhieieJ T*)181 Colt Al 1 January 2023 Additions 10,773 4,063 688 14,838 48.883 47.995 Al 31 O•c•nber 2023 10,773 4.751 47.995 63.S19 Oepr¢cl•tlon and Imp•lrm¢nt Al 1 January 2023 oeprècki￿.0n charged in the year 5.579 1,298 2.976 573 8,555 6,071 4,800 Al 31 Oecernb8r 2023 fj,877 3.549 4.800 15,228 C•rrylno amount Al 31 O•¢•mber 2023 3,896 1,202 43,195 48,293 At 31 December 2022 5,195 1.Q87 6,282 13 Flxgd ••Jot Inv••tm•nts Unll4tsd Inv••thont4 Co•t or valuatlan At 1 January 2023 Addition3 Volu8tion ¢h•nge¥ Oi3posals 447.273 21.SS7 21.618 133,fj411 At 31 December 2023 458,805 Carrylng amount At 31 Oer*mber 2023 456.805 At 31 Dec8fflb?r 2022 44T.273 2Q23 2022 In¥eytm8nts at lair value comprls$'. List8d Investments Cash 456,805 10,022 14g7,7421 468,827 497,742 Th• book value of investments held ai the year end Is £415.79312022.' £427.1521 -20- AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEhlENTS (CONTINUED) FOR THE YEAR EAIDED 31 DECEAIBER 2023 14 Fln4n¢io1 instsuments 2023 2022 Carrylng amount ol tha￿1•1 a￿ets Instnjments rn￿$￿red at tsir value thrO￿h profit or k)$5 456.805 447.273 1S Debto 2023 2022 Amounts fallin9 duo wthhln on¢ y•ar. Tra¢Je debtNs Other debtor¥ 2,495 14.466 26.044 100 3.653 9.407 43,005 13,160 16 Crnditors: amounts lalling dug willthn ¢Jne y*ar 2023 2022 Other taxab)n srKia security TradÈ erèditors Other creditors and defemd ino T14 173 123 8,1Sg 16 643 18,20S 8,485 21 AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEPIIENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2023 17 R•tlrnffl•nt bthofil #hem Oellwl contrIbU￿On ￿h￿￿•* Thè tharity operates a dgfingd contribjtion ￿n$￿)n st￿￿m• for all qualify'rvJ enyjloyees. Tre ¥sseis ol the scheme are hatrj ￿p￿aIety from thos8 olthe tharity in an ￿dep￿[Y athminist•red The charge to profit cv hjss in rospect ol defi￿￿ o)ntrt*utth 5chwnes was £4,68212022- £8,235). D•fin•d B•n•fft S¢h•m• The C￿r¢h 1$ a ￿tIcIpa￿￿ •rry>loyor thi BaptBI pe￿￿n Scheme llho s¢￿¢m¢-I. wlw"¢h is a sep8rate l•gal èntity admir￿stered by the Pensic￿ TrLL8tee {8aptL8t Pens*)n Trust Lirnitedl. The assets of the Scheme •re hekl separalety from Ih¢s¢ of Ernpbyer and the ott￿r partwoting empk*yers. The Schamè is consklered to be 8 muttt-empby¢r S￿ne ag ¢je5Cn￿ In S•ction 28 01 FRS 102. 8e¢8u88 is not possible to attribut¥ th* sche￿,9 assets and habilrtie5 to sperjr￿ employer3, Ihe scheme 1$ C4Junled for as il thè Stheme were a definod contribul¥)n 8(￿rne. SirKe l January 2012 Ihis s¢home has CV8rat•d through o defined Contribu￿on pl￿. A fonnal valua*on of the D8 plan as at 31st December 2019. COr￿d out by a prohssional Arttsary u$AIg the Piwed Unit Melhod. found the to b¢ £18m In d&fv"l of asuts rnowrèd to pay the required benefits. The joint members ol thi$ scheme securve•n returned to gemral unr¢stri¢ted furtds due to the chary in conditvjng det*"kd in 17 Designaw L•go¢y FwMI- Il¥s fij￿ co￿tilu1?￿ Iwcie9 gtven th• Boptyat Church which no specific re$tri¢tions imp03ed upon them by don￿. The Tnjsteès w$h lo use IhY* fvTrJ on ¥>ecific bJtur• proj•¢ts so sible retum can be seen on the ￿gaDeS g¥en to thurch 20 An•ly•l• ol n•t ••••t• b•h*•n lund• UnrMtrt¢t•d lund* 2023 R••trl¢t&d lund• 2023 Totsl 2023 Fund b•l•nc•• It 31 ts•¢•fft￿r 2023 av• r•pr•Mni•d by.. Tangl￿8 8ss4ts Inwtrnenls Curr•nt ¥$$&tsllliabilrtwl 48.293 456.805 101.673 46,293 456.805 138.555 34,882 608,771 34,882 641,653 UN••trl¢t•d fund• 2022 R••tri¢t•d fund• 2022 Tot•1 2022 Fund balanc•8 at 311)•¢•mb•r X122 *r• v•pr•wntsd Oy: Tangible assets Investm8nts Current a98etslllkabth.twl 6,282 447.273 108.197 6.282 447.273 138.095 31,898 559,7S2 31.898 591,650 21 R•latad p•rty tranu¢llons -24- AVENUE BAPTIST CHURCH NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 21 Rel4t•d pa¢y tran$•¢llon• (CMtlnu•dl Trnn•aclions wlth reLqted partl During the year Ihe charity ent¢r¢a into the followinp transa￿.0ft5 wlth rolated poth9$'. Th• church received a grant of £11,000 12022.. £10,000) from Th* Avenue Trust W SUPPOrt It5 mi85icfi work. The Trust iy Conn&￿ed to the Chur¢h due to its common tru$te•s. 22 Ca•b 9on•r41•d Irom op•rntbon• 2023 2Q22 surplu￿1￿•T1cjtI lor Ihe yo•r $0,004 1131,0181 Adju6tsftents for.. Invastmenl income recognised in statement ¢1 finanrAo1 activitie¥ L05J on disposal of inv*$tment5 Fair valu* gains and losses on Invosth•nlg Non- cash cjonati¢n ol asset DopreciAtion 8nd inpairm8nt ol18ngible fixed 8$8• 124,4531 601 122,4171 147,9951 6,871 125,1211 6.908 84.147 2,45fj Mo¥emènts In worf