**Charity number: 1129360**
## **SOUTHBOROUGH LANE BAPTIST CHURCH**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **SOUTHBOROUGH LANE BAPTIST CHURCH**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 6|
|**Independent examiner's report**|7|
|**Statement of financial activities**|8|
|**Balance sheet**|9|
|**Notes to the financial statements**|10 - 23|
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**Trustees**|Rev. B R A Marlowe, Chairman|
|---|---|
||Mr. S Fox, Trustee|
||Miss J Edwards, Trustee|
||Mr P R Willans, Treasurer|
||Mr P Wallach, Trustee|
||Mrs J Hirst, Trustee|
||Mr F P Hills, Trustee|
||Mr B Hughes, Trustee|
|**Charity registered**
**number**
1129360
**Principal office**
Southborough Lane
Petts Wood
Kent
BR2 8BQ
**Independent Examiner**
Paul Baker FFA. FAIA
Independent Examiner
Applied Accountancy Limited
50A Clifford Way
Maidstone
ME16 8GD||
Page 1
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023**
The Trustees present their annual report together with the financial statements of Southborough Lane Baptist Church for the year 1 October 2022 to 30 September 2023.
## **OBJECTIVES AND ACTIVITIES**
## **a. Policies and objectives**
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance on places of worship.
Our objective is to engage with all people of all ages in our community, on an emotional, spiritual and educational basis.
## **b. Activities for achieving objectives and main activities undertaken to further the Charity's purposes for Public Benefit**
We continue to run all our existing activities across all the age groups as well as initiating some new ventures.
## **ACHIEVEMENTS AND PERFORMANCE**
## **a. Key financial performance indicators**
The key financial performance indicators identified relate to the comparison of donations received to amounts expended in meeting the church's stated objectives as well as maintaining the integrity of the various funds that are maintained.
Page 2
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **ACHIEVEMENTS AND PERFORMANCE (continued)**
## **b. Review of activities**
During the last twelve months, we have continued to endeavour to be a church for all people of all ages, providing spiritual, emotional, physical and educational support, to both those in the church as well as to those from our wider community.
Our regular children’s groups are very much appreciated by those who attend and in addition to these we encourage the children to participate in key Sunday services, such as Christmas and Remembrance Sunday.
We have two important groups for mums or dads and their babies and toddlers. Likewise, the adults range of activities which include Bowls Mornings, Badminton Evenings, Craft Groups and Coffee Mornings have continued to offer friendship and support. We have also run a number of pop up cafes that have raised funds for local and international charities, as well as fostering a sense of community to many new attendees.
We have a range of ‘connect’ groups who meet for study and discussion, which have helped people to develop in a variety of ways.
We have welcomed many new visitors on Sundays and to our Quiz nights and Community Fun Days, all of which restarted after the pandemic. We have also added a monthly “Family Fun at Four” event which gives families the chance to learn together, as well as do a craft before sitting down, as a family, to eat supper together.
The Petts Wood Mandarin-English Bi-lingual Pre-School that operates out of our premises has gone from strength to strength. The relationship that we have with the school’s proprietors has allowed us to engage in several joint ventures for children and families at key times of the year.
## **c. Investment policy and performance**
The Church has a long term policy for the investment of funds. Any surplus funds arising from time to time will be held on deposit with either a High-Street Bank Deposit or the London Baptist Property Board, both of which allow easy access to the funds if required.
## **FINANCIAL REVIEW**
## **a. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
Page 3
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **b. Results for the year**
## Unrestricted
This year Southborough Lane Baptist Church generated a surplus, before transfers, of £695 which compared to the previous year's surplus, before transfers, of £5,880, shows a reduction of £5,185.
However, income has risen by £6,643 when comparing the current year to the previous year. the fall in donations of £5,104 is more than compensated for by increases in; Other Trading Activities of £7,047 and Rental Income of £3,288. Other Trading Activities being ministry support activities and 'pop-up' cafes both of which include elements of outreach to the local community.
The overall increase in income does not compensate for the increase in expenditure of £11,828 when 2023 is compared to 2022.
## Restricted
Donations for 2023 totalled £18,839 (2022 - £19,934) in respect of pledges made for the Building Development Fund as well as £1,500 given to the newly created Notice Board Fund.
Expenditure totalled £34,122 (2022 - £35,268) which comprised depreciation in respect of those buildings which are now complete and brought into usage. These buildings comprised the church offices, the rear hall now used by the Petts Wood Mandarin-English Bi-lingual Pre School and the refurbished front hall and entrance.
During the year £30,000 was paid off the loan used to finance the Building development. the funds were provided from the General Fund on behalf of the Building Development Fund .
## **c. Reserves Policy**
The Reserves Policy has been revised to reflect more accurately the needs of the church . The new policy is based on an estimate of the financial needs of the church, should it have to restart activities, to cover running costs and obligations over a period of three months or on ceasing activities altogether.
The Trustees estimate that the level of reserves required would be £38,000 and £20,000 respectively.
Under the original policy approximately three months running costs would have been £29,823 excluding depreciation (2022 - £27,159).
The unrestricted funds,classified as General Funds, excluding the cost of property, both cost and revaluation reserve, at the end of the year amounted to £64,996 (2022 - £95,218) which exceeds the trustees' target for reserves. The level of reserves will continue to be kept under close review.
Page 4
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **a. Constitution**
.The charity is an unincorporated charity governed by a constitution adopted on 28 January 2009.
## **b. Methods of appointment or election of Trustees**
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
## **c. Organisational structure and decision-making**
The charity is governed by a committee of management comprising the Trustees, the Minister, the Elders and the Deacons who are elected by the membership of Southborough Lane Baptist Church. These leaders meet on a regular basis to discuss issues effecting the church and its work and witness and make appropriate authorised decisions themselves or recommendations to the Church membership for decisions in general meeting.
## **d. Risk management**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## **PLANS FOR FUTURE PERIODS**
## **Future Developments**
The next twelve months, we hope, will be a time when we are able to press on with our vision to make Southborough Lane Baptist Church a place of welcome and blessing for people of all ages in the Petts Wood community, as we strive to respond to people’s specific needs and offer spiritual, emotional, physical and educational support, wherever it is needed.
Page 5
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **TRUSTEES' RESPONSIBILITIES STATEMENT**
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to 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 to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust Deed. They 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.
Approved by order of the members of the board of Trustees on 18 July 2024 and signed on their behalf by:
Rev. B R A Marlowe, Chairman
**.**
Page 6
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **Independent examiner's report to the Trustees of Southborough Lane Baptist Church ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 30 September 2023.
## **Responsibilities and basis of report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 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 drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Dated: 18 July 2024
. Paul Baker FFA FAIA
Applied Accountancy Limited.
Page 7
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
3
Other trading activities
4
Investments
5
Other income
6
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
17
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2023**
**£**
**18,839**
**-**
**-**
**-**
**18,839**
**34,122**
**34,122**
**(15,283)**
**31,802**
**16,519**
**1,278,492**
**16,519**
**1,295,011**|**Unrestricted**
**funds**
**2023**
**£**
**85,187**
**11,686**
**1,500**
**23,463**
**121,836**
**121,141**
**121,141**
**695**
**(31,802)**
**(31,107)**
**672,933**
**(31,107)**
**641,826**|**Total**
**funds**
**2023**
**£**
**104,026**
**11,686**
**1,500**
**23,463**
**140,675**
**155,263**
**155,263**
**(14,588)**
**-**
**(14,588)**
**1,951,425**
**(14,588)**
**1,936,837**|_Total_
_funds_
_2022_
_£_
_110,225_
_4,639_
_88_
_20,175_
_135,127_
_144,581_
_144,581_
_(9,454)_
_-_
_(9,454)_
_1,960,879_
_(9,454)_
_1,951,425_|
|---|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 23 form part of these financial statements.
Page 8
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **BALANCE SHEET AS AT 30 SEPTEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
12
**Current assets**
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one
year
14
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
15
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
17
Unrestricted funds
17
**Total funds**|**2023**
**£**
**16,033**
**88,571**
**104,604**
**(18,829)**|**2023**
**£**
**1,878,562**
**1,878,562**
**85,775**
**1,964,337**
**(27,500)**
**1,936,837**
**1,936,837**
**1,295,011**
**641,826**
**1,936,837**|_2022_
_£_
_19,209_
_110,154_
_129,363_
_(19,605)_|_2022_
_£_
_1,909,167_
_1,909,167_
_109,758_
_2,018,925_
_(67,500)_
_1,951,425_
_1,951,425_
_1,278,492_
_672,933_
_1,951,425_|
|---|---|---|---|---|
The financial statements were approved and authorised for issue by the Trustees on 18 July 2024 and signed on their behalf by:
## **Rev. B R A Marlowe - Chairman**
## **Mr P R Willans - Treasurer**
The notes on pages 10 to 23 form part of these financial statements.
Page 9
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **1. General information**
Southborough Lane Baptist Church is an unincorporated organisation, registered as a charity with The Charity Commission with the The Charity Commission number 1129360.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Southborough Lane Baptist Church meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
Page 10
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **2. Accounting policies (continued)**
## **2.3 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
## **2.4 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.5 Tangible fixed assets and depreciation**
Tangible fixed assets costing £750 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives .
Depreciation is provided on the following bases:
|Freehold property|- Straight Line over the life of the Property|
|---|---|
|Plant and machinery|- 25% Reducing Balance|
|Fixtures and fittings|- 25% Reducing Balance|
## **2.6 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 11
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **2. Accounting policies (continued)**
## **2.7 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.8 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.9 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.10 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **2.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 12
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **3. Income from donations and legacies**
|Donations
Legacies
Donations|**Restricted**
**funds**
**2023**
**£**
18,839
-
18,839
_Restricted_
_funds_
_2022_
_£_
_19,934_|**Unrestricted**
**funds**
**2023**
**£**
82,187
3,000
85,187
_Unrestricted_
_funds_
_2022_
_£_
_90,291_|**Total**
**funds**
**2023**
**£**
**101,026**
**3,000**|
|---|---|---|---|
||||**104,026**|
||||_Total_
_funds_
_2022_
_£_
_110,225_|
|**4.**|**Income from other trading activities**|
|---|---|
||**Income from fundraising events**|
|Sale of Books
Pop-Up Cafe and other events
**Income from Ministry Support Activities**
Income generated|**Unrestricted**
**funds**
**2023**
**£**
60
6,381
6,441
**Unrestricted**
**funds**
**2023**
**£**
5,245|**Total**
**funds**
**2023**
**£**
**60**
**6,381**
**6,441**
**Total**
**funds**
**2023**
**£**
**5,245**|_Total_
_funds_
_2022_
_£_
_-_
_-_|
|---|---|---|---|
||||_-_|
||||_Total_
_funds_
_2022_
_£_
_4,639_|
Page 13
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **5. Investment income**
|**Unrestricted**
**funds**
**2023**
**£**
Investment income - Bank Interest received
1,321
Gift Aid Tax repayment supplement
179
1,500|**Total**
**funds**
**2023**
**£**
**1,321**
**179**
**1,500**|_Total_
_funds_
_2022_
_£_
_53_
_35_|
|---|---|---|
|||_88_|
## **6. Other incoming resources**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2023**|**2023**|_2022_|
||**£**|**£**|_£_|
|Rental Income|23,463|**23,463**|_20,175_|
## **7. Analysis of expenditure by activities**
|Ministry Support Costs
Staff and Ministry Costs|**Direct costs**
**2023**
**£**
-
83,167
83,167|**Support**
**costs**
**2023**
**£**
72,096
-
72,096|**Total**
**funds**
**2023**
**£**
**72,096**
**83,167**|
|---|---|---|---|
||||**155,263**|
Page 14
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **7. Analysis of expenditure by activities (continued)**
|Ministry Support Costs
Staff and Ministry Costs|_Direct costs_
_2022_
_£_
_-_
_77,540_
_77,540_|_Support_
_costs_
_2022_
_£_
_67,041_
_-_
_67,041_|_Total_
_funds_
_2022_
_£_
_67,041_
_77,540_|
|---|---|---|---|
||||_144,581_|
## **Analysis of direct costs**
|Staff costs
Ministry activities
**Analysis of support costs**
Depreciation
Office costs
Computer costs
Support costs
Maintenance repairs
Grantmaking
Governance costs
**Total 2023**|**Direct costs**
**2023**
**£**
57,516
25,651
83,167|**Total**
**funds**
**2023**
**£**
**57,516**
**25,651**
**83,167**
**Total**
**funds**
**2023**
**£**
**35,971**
**2,554**
**264**
**7,010**
**593**
**20,369**
**5,335**
**72,096**|_Total_
_funds_
_2022_
_£_
_56,645_
_20,895_|
|---|---|---|---|
||||_77,540_|
||||_Total_
_funds_
_2022_
_£_
_35,945_
_2,027_
_45_
_4,144_
_3,632_
_16,654_
_4,594_|
||||_67,041_|
Page 15
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **8. Analysis of Grantmaking**
Included within expenditure are the following transactions:
|||||**Individual items**|
|---|---|---|---|---|
||**Total**|**2023**|**Amount**|**Reason**|
||**£**||**£**||
|Grantmaking|**20,369**||**3,600**|**Overseas Mission**|
||||**4,674**|**Home Mission**|
||||**4,750**|**The Michael Project**|
||||**282**|**Spurgeon's College**|
||||**4,491**|**Samara's Aid**|
||||**2,572**|**Charity Events**|
Grants to individuals totaled £407, (2022 - £760) and because they live locally these grants are included in ministry activities.
## **9. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £1,500 ( _2022_ - _£1,440_ ).
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2023**
**£**
**52,591**
**91**
**4,834**
**57,516**|_2022_
_£_
_48,946_
_165_
_7,534_|
|---|---|---|
||||
|||_56,645_|
The average number of persons employed by the Charity during the year was as follows:
|Minister
Office Staff|**2023**
**No.**
**1**
**2**
**3**|_2022_
_No._
_1_
_2_|
|---|---|---|
||||
|||_3_|
No employee received remuneration amounting to more than £60,000 in either year.
Page 16
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **11. Trustees' remuneration and expenses**
During the year, the Rev. B.R.A. Marlowe, one of the Trustees received remuneration and other benefits from his employment with the Charity. His salary was £38,400 (2022 - £37,967.) and the value of the other benefits received was as follows: Taxable Benefits in kind £643 (2022 - £1,245) and Pension contributions of £3,841 (2022 - £3,830).
During the year ended 30 September 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ .
Page 17
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **12. Tangible fixed assets**
|**Cost or valuation**
At 1 October 2022
Additions
At 30 September 2023
**Depreciation**
At 1 October 2022
Charge for the year
At 30 September 2023
**Net book value**
At 30 September 2023
_At 30 September 2022_|**Freehold**
**property**
**£**
**2,057,241**
**-**
**2,057,241**
**163,856**
**30,684**
**194,540**
**1,862,701**
_1,893,385_|**Plant and**
**machinery**
**£**
**32,594**
**-**
**32,594**
**18,843**
**3,438**
**22,281**
**10,313**
_13,751_|**Fixtures and**
**fittings**
**£**
**69,710**
**5,366**
**75,076**
**67,679**
**1,849**
**69,528**
**5,548**
_2,031_|**Total**
**£**
**2,159,545**
**5,366**|
|---|---|---|---|---|
|||||**2,164,911**|
|||||**250,378**
**35,971**|
|||||**286,349**|
|||||**1,878,562**|
|||||_1,909,167_|
In accordance with FRS102 the church buildings have been revalued by the Trustees and where appropriate any surplus arising has been taken to a Revaluation Reserve, refer to note 17.
Building works as part of the Refurbishment and Development of the Church Site relating to the new church offices, the refurbishment of the front and rear hall and the Audio Visual system are now being depreciated as work on them has now been completed and they have been brought into use.
It has been decided that the costs and related depreciation of the Audio Visual system be disclosed separately even though they are an integral part of the building. This is to show clarity as well as the impact of the shorter life of these assets when compared to the freehold property.
Page 18
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **13. Debtors**
|**Due within one year**
Other debtors
Prepayments and accrued income|**2023**
**£**
**14,250**
**1,783**
**16,033**|_2022_
_£_
_18,138_
_1,071_|
|---|---|---|
||||
|||_19,209_|
## **14. Creditors: Amounts falling due within one year**
|Other loans
Other taxation and social security
Other creditors|**2023**
**£**
**10,000**
**890**
**7,939**
**18,829**|_2022_
_£_
_10,000_
_923_
_8,682_|
|---|---|---|
||||
|||_19,605_|
The current portion of the loan described in note 15 is £10,000 comprising four quarterly instalments of £2,500 which will be repaid during the year ended 30 September 2024.
Included in Other Creditors is an amount of £3,000 in respect of a Rent deposit given by a MandarinEnglish Bi-Lingual Pre-school prior to commencing activities in the church's newly refurbished rear hall.
Page 19
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **15. Creditors: Amounts falling due after more than one year**
|Other loans
Included within the above are amounts falling due as follows:
**Between one and two years**
Other loans
**Between two and five years**
Other loans
**Over five years**
Other loans||**2023**
**£**
**27,500**
**2023**
**£**
**10,000**
**17,500**
**-**||_2022_
_£_
_67,500_|
|---|---|---|---|---|
|||||_2022_
_£_
_10,000_
_30,000_|
||||||
|||||_27,500_|
During the year ended 30 September 2020 the church was awarded a ten year loan facility of £100,000 from the London Baptist Property Board to provide funds to complete the property refurbishment and development works which were currently under way at that time. The Loan is to be repaid in equal quarterly instalments of £2,500. Interest is charged quarterly at a variable rate, the current level being 6.50% and the loan is secured on the property.
During the year ended 30 September 2023 a Capital Repayment of £30,000 was made and a further Capital Repayment of £22,500 was made during March 2024. This will shorten the life of the loan significantly as none of the underlying terms have been adjusted for the voluntary repayment with no obligation to repay early being placed on Sothborough Lane Baptist Church.
## **16. Financial instruments**
||**2023**|_2022_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**88,571**|_110,154_|
Financial assets measured at fair value through income and expenditure comprise a number of bank accounts held within High Street Banks and the London Baptist Property Board.
Page 20
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **17. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Manse at Cost
Manse Revaluation
Ministry Support Activities
**General funds**
General Funds - all funds
**Total Unrestricted funds**
**Restricted funds**
Church Site
Church Site Revaluation
Church Site Redevelopment
Building Development
Website Development
Notice Board
**Total of funds**|**Balance at 1**
**October**
**2022**
**£**
**110,000**
**462,500**
**5,215**
**577,715**
**95,218**
**672,933**
**516,971**
**503,489**
**243,059**
**13,196**
**1,777**
**-**
**1,278,492**
**1,951,425**|**Income**
**£**
**-**
**-**
**5,513**
**5,513**
**116,323**
**121,836**
**-**
**-**
**-**
**17,339**
**-**
**1,500**
**18,839**
**140,675**|**Expenditure**
**£**
**-**
**-**
**(4,217)**
**(4,217)**
**(116,924)**
**(121,141)**
**(7,560)**
**(7,400)**
**(19,162)**
**-**
**-**
**-**
**(34,122)**
**(155,263)**|**Transfers**
**in/out**
**£**
**-**
**-**
**(2,181)**
**(2,181)**
**(29,621)**
**(31,802)**
**283**
**(220)**
**33,554**
**(1,815)**
**-**
**-**
**31,802**
**-**|**Balance at**
**30**
**September**
**2023**
**£**
**110,000**
**462,500**
**4,330**|
|---|---|---|---|---|---|
||||||**576,830**|
||||||**64,996**|
||||||**641,826**|
||||||**509,694**
**495,869**
**257,451**
**28,720**
**1,777**
**1,500**|
||||||**1,295,011**|
||||||**1,936,837**|
Page 21
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **18. Summary of funds**
**Summary of funds - current year**
|Designated funds
General funds
Restricted funds|**Balance at 1**
**October**
**2022**
**£**
**577,715**
**95,218**
**1,278,492**
**1,951,425**|**Income**
**£**
**5,513**
**116,323**
**18,839**
**140,675**|**Expenditure**
**£**
**(4,217)**
**(116,924)**
**(34,122)**
**(155,263)**|**Transfers**
**in/out**
**£**
**(2,181)**
**(29,621)**
**31,802**
**-**|**Balance at**
**30**
**September**
**2023**
**£**
**576,830**
**64,996**
**1,295,011**|
|---|---|---|---|---|---|
||||||**1,936,837**|
## **19. Analysis of net assets between funds**
**Analysis of net assets between funds - current year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
1,300,514
578,048
31,997
72,607
(10,000)
(8,829)
(27,500)
-
1,295,011
641,826|**Total**
**funds**
**2023**
**£**
**1,878,562**
**104,604**
**(18,829)**
**(27,500)**
**1,936,837**|
|---|---|---|
**Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Restricted_
_funds_
_2022_
_£_
_1,334,636_
_21,356_
_(10,000)_
_(67,500)_
_1,278,492_|_Unrestricted_
_funds_
_2022_
_£_
_574,531_
_108,007_
_(9,605)_
_-_
_672,933_|_Total_
_funds_
_2022_
_£_
_1,909,167_
_129,363_
_(19,605)_
_(67,500)_
_1,951,425_|
|---|---|---|---|
Page 22
**SOUTHBOROUGH LANE BAPTIST CHURCH**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023**
## **20. Pension commitments**
The charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund operated by the Baptist Union. The pension cost charge represents contributions payable by the charity to the fund and amounted to £4,823 (2022 - £4,733). There were no arrears of contributions at the year end (2022 - £nil).
In addition to the present scheme contributions were made to an existing scheme referred to as The Defined Benefit Plan (The DB Plan) for employees in employment up to the plan's closure on 31 December 2011. Actuarial review indicates that the pension scheme is in deficit and deficiency payments are due from those churches who are in the scheme. The present level of payment is 12% of the employees' salary. During the year ended 30 September 2023 a total of £12 (2022 - £2,801) was paid into the closed scheme. Under arrangements entered into by the pension scheme trustees, the employers deficit contributions will be cleared by 2028. Under present arrangements, operating from 1 August 2022, the annual deficiency payments payable during the year ended 30 September 2024 will be £12.
Page 23