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2024-09-30-accounts

Charity number: 1129360

SOUTHBOROUGH LANE BAPTIST CHURCH

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

SOUTHBOROUGH LANE BAPTIST CHURCH

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 23

SOUTHBOROUGH LANE BAPTIST CHURCH

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024

Trustees Mr P Wallach, Chairman
Mr F P Hills, Trustee
Rev. B R A Marlowe, Trustee
Mr. S Fox, Trustee
Miss J Edwards, Trustee
Mr P R Willans, Treasurer
Mrs J Hirst, 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 2024

The Trustees present their annual report together with the financial statements of Southborough Lane Baptist Church for the year 1 October 2023 to 30 September 2024.

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 2024

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 parents or carers 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. These are interspersed with mid-week prayers held in the church sanctuary on Wednesdays.

There have been several Baptisms held during the year including three young people and this is very encouraging. In addition, there have been several Alpha courses held all of which were well attended.

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 continue to run the “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.

During the year the church paid off The London Baptist Property Board loan. We had expected to pay off the loan over its life of 10 years, but we were able to clear it in 5 ½ years. An example of how gracious God is.

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.

The Trustees recently provided level 2 safeguarding training (covering children and vulnerable adults) for all church members working in the relevant ministries. Level 3 training is being arranged for early 2025.

The Trustees have also begun to compile or formalise a number of policies needed to run this charity in a caring and responsible matter.

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.

Page 3

SOUTHBOROUGH LANE BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

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.

b. Results for the year

Unrestricted

This year Southborough Lane Baptist Church generated a surplus, before transfers, of £3,829 which compared to the previous year's surplus, before transfers, of £695, shows an increase of £3,134.

Income has risen by £4,779 when comparing the current year to the previous year. It is encouraging to find that donations have increased this year by £4,268 over the previous year and this increase almost compensates for the fall in Other Trading Activities of £4,814. Other Trading Activities comprises Ministry Support Activities and one-off events such as Pop-up cafes both of which include an element of outreach into the community.. The increase in interest received from Investments reflects the increase in interest rates in operation during the year. The increase in Other Income is soley attributable to Rental Income and much of the increase of £4,307 is in respect of rental increases under the terms of a short term lease grant to a Bi-Lingual Pre-School.

The overall increase in income more than compensates for the increase in expenditure of £1,645 when 2024 is compared to 2023.

Restricted

Donations for 2024 totalled £12,230 (2023 - £18,839) in respect of pledges made for the Building Development Fund though in 2023 there was also a donation of £1,500 given to the newly created Notice Board Fund. The reduction in the level of donations occurrs as individual pledges are completed.

Expenditure totalled £33,262 (2023 - £34,122) 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 the loan used to finance the Building development was repaid in full and the loan account was closed.

Page 4

SOUTHBOROUGH LANE BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 £39,000 and £23,000 respectively.

Under the original policy approximately three months running costs would have been £31,307 excluding depreciation (2023 - £29,823).

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 £72,425 (2023 - £64,996) which exceeds the Trustees' target for reserves. The level of reserves will continue to be kept under close review.

Page 5

SOUTHBOROUGH LANE BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

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.

Now that the loan has been cleared, we are in a position to consider the next steps in the life of the Southborough Lane Baptist Church which includes the expansion of our ministry staff as well as the conversion of Southborough Lane Baptist Church into a Charitable Incorporated Organisation.

Page 6

SOUTHBOROUGH LANE BAPTIST CHURCH

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

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:

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 9 March 2025 and signed on their behalf by:

Mr P Wallach

(Chair of Trustees)

Page 7

SOUTHBOROUGH LANE BAPTIST CHURCH

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 2024.

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: 9 March 2025

. Paul Baker FFA FAIA

Applied Accountancy Limited.

Page 8

SOUTHBOROUGH LANE BAPTIST CHURCH

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2024

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
2024
£
12,230
-
-
-
12,230
33,262
33,262
(21,032)
(3,450)
(24,482)
1,295,011
(24,482)
1,270,529		 Unrestricted
funds
2024
£
89,455
6,872
2,518
27,770
126,615
122,786
122,786
3,829
3,450
7,279
641,826
7,279
649,105		 Total
funds
2024
£
101,685
6,872
2,518
27,770
138,845
156,048
156,048
(17,203)
-
(17,203)
1,936,837
(17,203)
1,919,634		 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

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 11 to 23 form part of these financial statements.

Page 9

SOUTHBOROUGH LANE BAPTIST CHURCH

BALANCE SHEET AS AT 30 SEPTEMBER 2024

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		 2024
£
16,836
68,440
85,276
(9,555)		 2024
£
1,843,913
1,843,913
75,721
1,919,634
-
1,919,634
1,919,634
1,270,529
649,105
1,919,634		 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

The financial statements were approved and authorised for issue by the Trustees on 09 March 2025 and signed on their behalf by:

Mr P Wallach - Chair of Trustees

Mr P R Willans - Treasurer

The notes on pages 11 to 23 form part of these financial statements.

Page 10

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

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.

Donations and Legacies received, other than the Sunday Offeratory or any recognised cash collection point, are only accepted if the church is able to establish who the donor is and the purpose for which the donation is made to the church .

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 11

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 12

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 13

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. Income from donations and legacies

Donations
Donations
Legacies		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
12,230
89,455
Restricted
funds
2023
Unrestricted
funds
2023
£
£
18,839
82,187
-
3,000
18,839
85,187		 Total
funds
2024
£
101,685
Total
funds
2023
£
101,026
3,000
104,026
4.
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2024
£
Sale of Books
-
Pop-Up Cafe and other events
2,300
2,300
Income from Ministry Support Activities
Unrestricted
funds
2024
£
Income generated
4,572		 Total
funds
2024
£
-
2,300
2,300
Total
funds
2024
£
4,572		 Total
funds
2023
£
60
6,381
6,441
Total
funds
2023
£
5,245

Page 14

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. Investment income

Unrestricted
funds
2024
£
Investment income - Bank Interest received
1,981
Gift Aid Tax repayment supplement
537
2,518
Other incoming resources
Unrestricted
funds
2024
£
Rental Income
27,770		 Total
funds
2024
£
1,981
537
2,518
Total
funds
2024
£
27,770		 Total
funds
2023
£
1,321
179
1,500
Total
funds
2023
£
23,463

6. Other incoming resources

7. Analysis of expenditure by activities

Ministry Support Costs
Staff and Ministry Costs		 Direct costs
2024
£
-
87,679
87,679		 Support
costs
2024
£
68,369
-
68,369		 Total
funds
2024
£
68,369
87,679
156,048

Page 15

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

7. Analysis of expenditure by activities (continued)

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

Analysis of direct costs

Staff costs
Ministry activities
Analysis of support costs
Depreciation
Office costs
Computer costs
Support costs
Maintenance repairs
Bank charges
Grantmaking
Governance costs		 Direct costs
2024
£
62,079
25,600
87,679		 Total
funds
2024
£
62,079
25,600
87,679
Total
funds
2024
£
34,649
2,421
-
8,011
1,126
31
18,634
3,497
68,369		 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

Page 16

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. Analysis of Grantmaking

Included within expenditure are the following transactions:

Individual items
Total 2023 Amount Reason
£ £
Grantmaking 18,634 3,600 Overseas Mission
4,560 Home Mission
4,750 The Michael Project
1,925 Samara's Aid
3,799 Charity Events

Grants to individuals totaled £355, (2023 - £407) 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 ( 2023 - £1,500 ).

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
56,257
117
5,705
62,079		 2023
£
52,591
91
4,834
57,516

The average number of persons employed by the Charity during the year was as follows:

Minister
Office Staff		 2024
No.
1
2
3		 2023
No.
1
2
3

No employee received remuneration amounting to more than £60,000 in either year.

Page 17

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 £39,603 (2023 - £38,400.) and the value of the other benefits received was as follows: Taxable Benefits in kind £870 (2023 - £643) and Pension contributions of £4,531 (2023 - £3,841).

During the year ended 30 September 2024, no Trustee expenses have been incurred (2023 - £NIL) .

12. Tangible fixed assets

Cost or valuation
At 1 October 2023
At 30 September 2024
Depreciation
At 1 October 2023
Charge for the year
At 30 September 2024
Net book value
At 30 September 2024
At 30 September 2023		 Freehold
property
£
2,057,241
2,057,241
194,540
30,684
225,224
1,832,017
1,862,701		 Plant and
machinery
£
32,594
32,594
22,281
2,578
24,859
7,735
10,313		 Fixtures and
fittings
£
75,076
75,076
69,528
1,387
70,915
4,161
5,548		 Total
£
2,164,911
2,164,911
286,349
34,649
320,998
1,843,913
1,878,562

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.

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 2024

13. Debtors

Due within one year
Other debtors
Prepayments and accrued income		 2024
£
14,103
2,733
16,836		 2023
£
14,250
1,783
16,033

14. Creditors: Amounts falling due within one year

Other loans
Other taxation and social security
Other creditors		 2024
£
-
823
8,732
9,555		 2023
£
10,000
890
7,939
18,829

The loan was repaid in full 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 2024

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		 2024
£
-
2024
£
-
-		 2023
£
27,500
2023
£
10,000
17,500

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 6.25% 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. The loan was fully repaid in September 2024 by a final Capital Repayment of £7,500.

16. Financial instruments

2024 2023
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 68,440 88,571

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 2024

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
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		 Income
£
-
-
4,834
4,834
121,781
126,615
-
-
-
12,230
-
-
12,230
138,845		 Expenditure
£
-
-
(3,229)
(3,229)
(119,557)
(122,786)
(7,560)
(7,400)
(18,302)
-
-
-
(33,262)
(156,048)		 Transfers
in/out
£
-
-
(1,755)
(1,755)
5,205
3,450
-
-
37,500
(40,950)
-
-
(3,450)
-		 Balance at
30
September
2024
£
110,000
462,500
4,180
576,680
72,425
649,105
502,134
488,469
276,649
-
1,777
1,500
1,270,529
1,919,634

Page 21

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

18. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Balance at 1
October
2023
£
576,830
64,996
1,295,011
1,936,837		 Income
£
4,834
121,781
12,230
138,845		 Expenditure
£
(3,229)
(119,557)
(33,262)
(156,048)		 Transfers
in/out
£
(1,755)
5,205
(3,450)
-		 Balance at
30
September
2024
£
576,680
72,425
1,270,529
1,919,634

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total
Analysis of net assets between funds - prior period
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
1,267,252
576,661
3,277
81,999
-
(9,555)
1,270,529
649,105
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
2024
£
1,843,913
85,276
(9,555)
1,919,634
Total
funds
2023
£
1,878,562
104,604
(18,829)
(27,500)
1,936,837

Page 22

SOUTHBOROUGH LANE BAPTIST CHURCH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

20. Pension commitments

The charity operates a defined contribution 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 £5,706 (2023 - £4,823), including those for the Defined Benefit Plan. There were no arrears of contributions at the year end (2023 - £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 2024 a total of £12 (2023 - £12) 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 ended 31 October 2024.

Page 23