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← Brighton Road Baptist Church, Horsham

2024-08-31-accounts

Financial Statements for the year To 31 August 2024

Brighton Road Baptist Church, Horsham

Trustees’ Annual Report for the period

1 September 2023 to 31 August 2024

Reference and administration details

Charity Name

Brighton Road Baptist Church

Registered charity number 1129562

Charity address 7 Brighton Road, Horsham, West Sussex, RH13 5BD

Names of the charity trustees who manage the charity:

Dick Beazley Ken Carter (Secretary from 1 January 2025) Louise Carter Tim Carter (Minister until 31 December 2024, resigned as trustee 31 December 2024) Allan Edmonston (appointed as trustee 1 January 2024) Jon Fisher (resigned as trustee 31 December 2023) Paul Hassall (resigned as trustee 3 November 2023) Michael Hogg (Leader of Community Evangelism) Ann Muggeridge (appointed as trustee 1 January 2025) Deborah Packham (Acting secretary from 22 November 2023 until 31 December 2024, resigned as trustee 31 December 2024)

Marion Richardson Adrian Rudd (Treasurer) Julie Rudd David Wickersham (Secretary until 22 November 2023, resigned as trustee 31 December 2023, reappointed as trustee 1 January 2025)

Custodian Trustees

Baptist Union of Great Britain

Structure, governance and management

The Charity is an Unincorporated Association and is governed by a Constitution (the Governing Document 2009), which was adopted by the Church meeting of 24 March 2009. The governing document was amended by a Special Church meeting on 22 September 2021 to allow Church Meetings and Trustee meetings to be attended by electronic means or in person.

Members of the Church are accepted in accordance with the Constitution which requires them to be or to have been publicly baptised by immersion on the profession of faith in Jesus Christ or following other modes of baptism including a public profession of faith in Jesus Christ. The Church Meeting considers and votes on all applications for membership.

The Church Meeting normally takes place five times per year and has responsibility for the overall policy of the Church. In accordance with the Constitution, the members appoint up to twelve Trustees, who together with the Ministers are responsible for the day to day running of the Church’s

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Brighton Road Baptist Church, Horsham

work and witness, and the financial and legal aspects of the charity. The Church Secretary and Church Treasurer are usually appointed from the twelve trustees by the Church members. All members are encouraged to take an appropriate part in the spiritual and practical tasks involved in the furtherance of the charitable objective.

Relevant matters may be submitted to the Church Meeting by the Trustees for guidance or may be raised by members in a Church Meeting for further consideration by the Trustees. Though the Constitution permits decisions to be made at Church Meetings by appropriate majorities, the Church seeks to work by consensus wherever possible.

Objectives and Activities

The principal purpose of the Church is the advancement of the Christian faith according to the principles of the Baptist denomination. The Church may also advance education and carry out other charitable purposes in the United Kingdom and/or other parts of the world.

Our vision is that we are part of God’s family, where anyone and everyone is made welcome, and we are all equipped to live our lives for Jesus with a shared sense of unity and purpose. This is worked out through three dimensional relationships:

In order to achieve the principal purpose set out above and to meet our vision, the Church aims to provide a variety of activities both to its membership and the community generally.

Church services are held each Sunday and are open to any member of the public. These are usually livestreamed and added to our website for anyone to view.

We aim to run regular Alpha courses for those looking to learn more about the Christian faith. An evening course was run during the year, with four people attending in addition to the team leading the course. Two were baptised and two became Church members.

Small groups meet during the week, where adults and young people receive additional Bible based teaching. Non-Church members are welcome at many of these groups. We have a Church library which has Christian books available to borrow by any member of the Church.

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Brighton Road Baptist Church, Horsham

Other Church based groups who meet regularly include Prayer groups, Women’s Fellowship, PMA, Men’s Coffee Morning, Art Group, and a walking group. These groups are open to Church members and other members of the public. The church is open on a Monday morning during term time as a drop in for anyone who wants coffee, cake and company.

Twice a month we run a club which consists of a craft activity and a talk. We also hold a lunch club once a month. There is a toy library for families with young children once a week. Our Saturday Kitchen aims to provide a warm welcome, a warm space and a warm meal for families with children of Primary school age.

Horsham Baptist and Ambassadors football club is run by the Church, with teams playing in local leagues. Many players in the football teams are not Church members.

A youth group meets weekly for those of secondary school age, providing Biblical teaching and other activities.

Some groups simply enable people to meet together for social purposes, others provide opportunities for learning more about our Christian faith.

The Church operates systems to ensure that all people working with children and vulnerable adults are appropriately vetted in accordance with the Disclosure and Barring Service.

The Church premises are available for hire (subject to availability) by local community groups. The University of the Third Age (U3A), drama clubs, dance clubs, choirs, some parent and baby groups, a group for Alzheimer’s sufferers, the World Church of God, Horsham Archaeological Society, and the Horsham Horticultural Society all held regular meetings on the Church premises and various fitness classes have used the premises regularly over the last year. Other groups have hired the premises for one-off purposes.

The Church has read the Charity Commission guidance on public benefit and is satisfied that the activities outlined above clearly demonstrate that the Church is providing a benefit to the public.

Achievements and Performance

The Church does not measure the success of its programme only in numbers, including financial numbers, but in less tangible areas like fellowship and encouragement. The Trustees recognise that these are difficult to measure.

At the end of the financial year there were 193 members. There have been three new members and three members have died. There have been eight resignations/removals during the year.

There is a Sunday service every Sunday morning. Once a month this is an intergenerational service where all the church family remain in the church for the whole service, and the teaching and worship is aimed at all ages. Other services on a Sunday morning are more traditional and there is a separate kid’s club (BRBK) for those ages up to 11 running at the same time. Older children have helped with the running of BRBK. There is also a creche available for any pre-schoolers who need this facility. The traditional services are live streamed for those who are unable to meet in person, including those who are elderly, unwell or who live outside the local area. These services are also recorded for distribution to those who do not have internet access. On some occasions there is also a more informal service on a Sunday evening for anyone who would like to attend.

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Brighton Road Baptist Church, Horsham

We provide a number of opportunities for collective prayer, including prayer meetings in the Church on Sunday evening, an online prayer meeting on Wednesday evenings and a listen and prayer group which meets on Friday mornings, in each case once a month.

Other activities held by the Church include the eco group, Soundwaves, a book club, walking group, worship group, international group and flower group.

Financial Review

Income
Resources expended
Net movement
Capitalisation
Total movement
Brought forward
Carried forward
Resources expended
made up of
Mission
Ministry
Establishment
Governance		 General
Fund
Organisations
Church
Building (net)
Total
2023 Total
£379,940
£9,526
£0
£389,465
£271,947
£330,677
£14,144
£0
£344,821
£297,560
£49,263
-£4,618
£0
£44,6445
-£25,613
£56,805
£0
-£56,805
£0
£0
£106,068
-£4,618
-£56,805
£44,645
-£25,613
£1,056,923
£19,748
£1,998,195
£3,074,856
£3,100,459
£1,162,991
£15,130
£1,941,380
£3,119,500
£3,074,856
£39,580
£14,144
£0
£53,724
£58,298
£137,297
£0
£0
£137,297
£131,123
£153,800
£0
£0
£153,800
£108,139
£0
£0
£0
£0
£0

Our income arises from general offerings from Church members and congregation (including the gift aid reclaimed where applicable), income received from hall hire, interest on monies held in deposit accounts, and occasional legacies. No external fund raising has taken place.

Money is donated to various Christian organisations at home and abroad, with aims and objectives compatible with the Church’s own charitable purpose. These include:

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Brighton Road Baptist Church, Horsham

The Church is heavily dependent on its membership working as volunteers in all aspects of the Church’s activities, many of which run with little or no impact on the Church’s expenditure, but nevertheless contribute substantially to the achievement of the Church’s objectives.

The financial results for the year, together with a summary of the accounting policies adopted are set out in the accompanying financial statements.

The Church is a participating employer within the Defined Benefit section of the Baptist Pension scheme and has been making ongoing deficit payments to cover the costs of past service of its employees within the scheme under a recovery plan. On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and, following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. These ceased in November 2024.

Reserves policy

The Church has a reserves policy which sets out a minimum amount to be kept as cash. Under this policy the Church aims to keep an amount equal to the greater of

For the financial year commencing 1 September 2024 this leads to required reserves of £58,413.

The church currently holds liquid assets in excess of those required by the reserves policy.

Declaration

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity trustees:

Ken Carter Adrian Rudd Secretary Treasurer

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Brighton Road Baptist Church, Horsham

Statement of Financial Activities for the year to 31 Aug 2024

Notes
Incoming Resources
Donations and legacies
2
Investment Income
3
Total Incoming Resources
Resources Expended
Cost of generating Funds
Charitable Activity:
Mission
4
Ministry
5
Administration/Support
6
Governance
7
Total Resources Expended
8
Net Movement in Funds
Transfers between Funds
Designated funds
9
Other recognised gains/(losses)
Depreciation of Building
11
Reconciliation of Funds
Total Funds brought forward
17
Total Funds carried forward
17		 2024
2023
Unrestricted
Designated
Restricted
Endowed
Total
Total
£
£
£
£
£
£
274,931
103,400
9,526
0
387,856
269,613
1,609
0
0
0
1,609
2,334
276,540
103,400
9,526
0
389,465
271,947
0
0
0
0
0
0
400
39,180
14,144
0
53,724
58,298
137,297
0
0
0
137,297
131,123
119,847
33,953
0
0
153,800
108,139
0
0
0
0
0
0
257,544
73,133
14,144
0
344,821
297,560
18,996
30,267
-4,618
0
44,644
-25,613
-34,087
34,087
0
0
56,805
-56,805
0
0
41,713
64,354
-4,618
-56,805
44,644
-25,613
1,035,146
21,777
19,748
1,998,185
3,074,856
3,100,469
1,076,859
86,131
15,130
1,941,380
3,119,500
3,074,856

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Brighton Road Baptist Church, Horsham

Balance Sheet at 31 Aug 2024
Unrestricted Designated Restricted Endowed Totals 2023
Notes £ £ £ £ £ £
Tangible Fixed Assets
General Fund 11 1,049,716 1,049,716 1,049,983
Building and Contents (net) 11 1,941,380 1,941,380 1,998,185
Investments
One year Bond with BU 12 71,068 71,068 70,166
Current Assets
Debtors 13 0 0 17,961
Cash, Bank 14 53,148 86,131 15,130 154,409 59,422
1,173,932 86,131 15,130 1,941,380 3,216,573 3,195,717
Current Liabilities
Creditors due within one year 15 -10,860 -10,860 -15,240
Net Assets excluding current 1,163,072 86,131 15,130 1,941,380 3,205,713 3,180,477
liability
Creditors due after one year 16 -86,214 -86,214 -105,621
Total net assets or liabilities 1,076,858 86,131 15,130 1,941,380 3,119,500 3,074,856
Represented by: 17
Endowed Funds 1,941,380 1,941,380 1,998,185
Restricted Funds 15,130 15,130 19,748
Designated Funds 86,131 86,131 21,777
Unrestricted Funds 1,076,858 1,076,858 1,035,146
1,076,858 86,131 15,130 1,941,380 3,119,500 3,074,856

Approved by the trustees of Brighton Road Baptist Church on 10 February 2025 and signed on their behalf by:

..................................... .......................................... Secretary Treasurer

........................................ Independent Examiner

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Brighton Road Baptist Church, Horsham

Notes to the Accounts for the year ended 31 August 2024

1. Accounting policies

a) Basis of preparation.

The accounts are prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP 2015), FRS102 and with the Charities Act 2011.

Brighton Road Baptist Church is a registered charity, number 1129562, and meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

b) Incoming Resources

All incoming resources are included in the Statement of Financial Activities when the church is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

c) Donations

Donations are accounted for gross when received. Fixed asset gifts in kind are recognized when receivable and are included at fair value.

d) Legacies

Legacies are accounted for at the earlier of the Estate accounts being finalised and notified and the legacy being received.

e) Investment Income

Investment income is included in the accounts in the year in which it is receivable.

f) Expenditure recognition

All expenditure is accounted for on an accruals basis. Expenditure is recognized where there is a legal or constructive obligation to make payments to third parties, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

g) Costs of raising funds

The church does not make formal appeals for funds, and expenditure on these items is therefore not material.

h) Grants Payable

The church makes grants to other organisations whose charitable objects complement its work. They are accounted for in the year in which they are paid.

i) Support costs

Support costs are those that assist the work of the church but do not directly represent charitable activities and include office costs and governance cost. Where support costs cannot be directly attributed to a particular heading they have been allocated to the cost of raising funds and expenditure on charitable activities on a basis consistent with the use of resources. This represents direct expenditure on the governance of the church. Most of the management is carried out without charge by volunteers. This intangible cost is not included in the Statement of Financial Activities since there is no measurable cost to the volunteers for their service.

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Brighton Road Baptist Church, Horsham

j) Fixed Assets

Tangible fixed assets are capitalised if they can be used for more than one year and cost at least £1,000. They are initially recognised at cost, or for donated assets, at a reasonable estimate of their value on receipt.

The church building is included in these Statements at a value equivalent to the total costs paid out to the principal contractor, the architects and surveyors, and the internal fitters.

The Heron Way manse is shown at the trustees’ estimate of its market value in August 2018. The Hornets manse is shown at its purchase price in June 2019 plus the costs of the extension, which was added in 2020 and 2021.

Depreciation is provided on all fixed assets, other than freehold land, to write off the cost on a straight-line basis over their expected useful life, at the following rates:

Freehold land Nil Buildings 2% p.a. Fixtures and fittings 20% p.a.

The only investment is a bond with the Baptist Union. This is shown at cost.

m) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the church and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for specific 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 church for specific purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Endowment funds represent those assets which must be held permanently by the church, principally the funds donated for the church building. Income arising on the endowment funds can be used in accordance with the objects of the church and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

n) Employee benefits

The Church operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the church pays fixed contributions into a separate entity. Once the contributions have been paid the church has no further payments obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the church in an independently administered fund.

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Brighton Road Baptist Church, Horsham

Prior to 2012 pension provision was made through multi-employer defined benefit pension plans. Where it is not possible for the church to obtain sufficient information to enable it to account for a plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.

The defined benefit plan has been in deficit and the Church paid deficit funding contributions as agreed with the trustees of the pension plan during the financial year. Following a buy in in June 2022, there is no longer a deficit within the scheme and so the liability has been reduced to zero.

o) Related Charities

The custodian Trustee of the church is the Baptist Union Corporation Limited which is charity number 249635, and which is controlled by the Baptist Union Council. The church is also a member of the Baptist Union of Great Britain and the South Eastern Baptist Association.

The Brighton Road Baptist Church Playschool formerly used the church premises on weekdays of school term time. The Playschool was constituted as an independent charity, number 1175988, of which a majority of Trustees are appointed by the church. The Playschool ceased to operate on 31 August 2023 and has now been dissolved.

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Brighton Road Baptist Church, Horsham

Notes to the Accounts for the year ended 31 Aug 2024

2 Voluntary Income 2024 2023
Notes Unrestricted Designated Restricted Endowment Total Total
Weekly/Monthly Offerings 138,244 138,244 144,558
Donations 11,818 100,000 111,818 11,071
Tax refund 30,680 30,680 29,783
Other income 22,815 22,815 22,666
Hall Hire 53,373 53,373 42,844
Manse Donations 18,000 0 18,000 0
Missionary and other causes 0 3,400 9,526 12,925 18,692
274,931 103,400 9,526 0 387,856 269,613
3 Investment Income
Unrestricted Designated Restricted Endowment Total Total
Bank Interest 1,609 0 0 0 1,609 2,334
Charitable Activities
Unrestricted Designated Restricted Endowment Total Total
4 Mission
Gifts, as in Note 9 39,180 39,180 44,516
Gifts to church organisations 400 400 1,620
Costs of church organisations 14,144 14,144 12,162
400 39,180 14,144 0 53,724 58,298
5 Ministry
Salaries, Pensions 10 131,443 131,443 124,458
Travel and car costs 1,058 1,058 1,015
Training 40 40 757
Other costs 4,756 4,756 4,894
137,297 0 0 0 137,297 131,123
6 Administration/Support
Gas Electricity 12,979 12,979 12,868
Insurance 7,094 7,094 6,171
Postage Office 3,723 3,723 3,472
Cleaners other costs 2,862 2,862 2,831
Catering 740 740 628
Website Copyright 2,278 2,278 2,242
Subscriptions 1,468 1,468 1,505
Depreciation on Assets 57,072 57,072 57,072
Maintenance of buildings 12,276 33,953 46,229 8,681
Council tax Water Rates 6,188 6,188 5,408
Interest on B U Loan 6,452 6,452 5,623
Development and Sundry 6,716 6,716 1,638
119,847 33,953 0 0 153,800 108,139
7 Governance
Independent Examination 0 0 0
0 0 0 0 0 0
8 Total Resources Expended Charitable
Activities
Mission 53,724 53,724 58,298
Ministry 137,297 137,297 131,123
Administration/Support 153,800 153,800 108,139
344,821 0 0 0 344,821 297,560

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Brighton Road Baptist Church, Horsham

9 Designated funds

Designated funds
Transfers
Name Bal b/f Gen. Fund Other Payments Bal c/f
1 Sept 23 Including Donations made 31 Aug 2024
Gift Aid Dons
BMS World Mission 1,147 14,003 130 15,280 0
Home Mission Fund 0 12,040 0 12,040 0
Other Missionary Giving 2,330 8,044 0 9,039 1,335
Pastoral fund 1,400 0 1,787 782 2,405
Youth and Families 11,000 0 732 444 11,288
Holiday at Home 5,900 0 750 1,595 5,055
Maintenance Fund 0 0 100,000 33,953 66,047
21,777 34,087 103,400 73,132 86,132

BMS World Mission is a Christian mission organisation, working in over 30 countries on four continents, to help people experience fullness of life in Jesus Christ.

Home Mission Fund is a fund under the governance of Baptist Union of Great Britain and seeks to further the Christian faith in the UK.

Other Missionary Giving is used to support other Christian organisations in the UK and overseas which the church has elected to support. Someone in the church has regular contact with the organisation, and as well as providing financial support we pray regularly for the work of each organisation

The Relationship funds are used to support the work of the church:

10
Staff Costs
Salaries
Social Security Costs
Pension Cost
See Note 18
Contributions to Baptist Pension Scheme		 2024
2023
115,463
110,086
4,019
2,556
11,960
11,815
131,443
124,458

At August 2024 there were 2 full time employees and 5 part time employees (2023: 2 full time and 5 part time). This is equivalent to 4 full time employees (2023: 4)

No employee received emoluments in excess of £60,000 during the year (2023: none)

The Ministers act as church trustees in accordance with the Trust deed. They received remuneration of £39,204 (2023: £36,330) (Rev Carter) and £33,290 (2023: £30,753) (Rev Hogg) and other benefits including the provision of manse accommodation, in respect of their services as Ministers.

No sums were reimbursed to the Deacons for their work as Trustees (2023: none).

The Church pays pension contributions for its Ministers, and other employees, to the defined contributions section of the Baptist Pension Scheme

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Brighton Road Baptist Church, Horsham

11 Tangible Fixed Assets

11 Tangible Fixed Assets
Church 77 Heron The Fixtures & Total Total
Building Way Hornets Fittings 2024 2023
£ £ £ £ £
Cost/ valuation, b/fwd 2,840,242 525,000 523,913 100,035 3,989,190 3,987,854
Additions / adjustments -
 - - -
 0 1,337
Revaluation of Manse -
 - - -
 0 0
Disposals -
 - - -
 0 0
As at 31 August 2024 2,840,242 525,000 523,913 100,035 3,989,190 3,989,191
Depreciation, b/fwd 842,057
 -
 - 98,965 941,022 883,950
Charge for the year 56,805
 -
 - 267 57,072 57,072
Disposals - - -
 - 0 0
As at 31 August 2024 898,862 0 0 99,232 998,094 941,022
Net Book Value:
As at 31 August 2024 Note 1f
1,941,380		 525,000 523,913 803 2,991,096 3,048,169
As at 31 August 2023 1,998,185 525,000 523,913 1,070 3,048,169
2024 2023
12 Investments
One Year Bond with BU 71,068 70,166
13 Debtors
HMRC 0 17,961
0 17,961
14 Cash and Bank
HSBC Deposit 26,123 25,620
HSBC Current 107,724 8,061
CAF Gold account 5,433 4,583
Cambridge and Counties Bank 0 1,409
Church Organisations 15,130 19,748
154,409 59,422
15 Creditors: Amounts falling due within 1 year
Manse Interest free loans 3,000 6,000
BU Loan for purchase of Manse 7,860 9,240
10,860 15,240
16 Creditors: Amounts falling due after more than 1 year
Manse Interest free loans 11,583 29,583
BU Loan for purchase of Manse 74,631 76,038
0
86,214 105,621

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Brighton Road Baptist Church, Horsham

17 Movements in Major Funds

01-Sep-23 Incoming Resources Transfers 31 Aug 2024
resources expended
Endowment Funds
Church Buildings 1,998,185 0 -56,805 0 1,941,380
Restricted Funds
Church organisations 19,748 9,526 -14,144 0 15,130
Designated Funds
As defined in Note 9 21,777 103,400 -73,133 34,087 86,131
Unrestricted
General Fund 1,035,146 276,540 -200,740 -34,087 1,076,859
3,074,856 389,465 -344,821 0 3,119,500

18 Pensions

The Church is a participating employer in the Baptist Pension Scheme (“the Scheme”), which is a separate legal entity administered by the Pension Trustee (Baptist Pension Trust Limited). The assets of the Scheme are held separately from those of the Employer and the other participating employers.

The Scheme, previously known as the Baptist Minister’s Pension Fund, started in 1925, but was closed to future accrual of defined benefits on 31 December 2011. Prior to this date the main benefit provided through the Defined Benefit (DB) Plan was a pension of one eightieth of final minimum pensionable income for each year of pensionable service together with additional pension in respect of premiums paid on Pensionable Income in excess of Minimum Pensionable Income.

From January 2012, pension provision is being made through the Defined Contribution (DC) Plan within the Scheme. In general, members pay 8% of their Pensionable Income and employers pay 6% of members’ Pensionable Income into individual pension accounts, which are operated and managed on behalf of the Pension Trustee by Broadstone Corporate Benefits Ltd. In addition, the employer pays a further 4% of Pensionable Income to cover Death in Service Benefits, administration costs, and an associated insurance policy which provides income protection for Scheme members if they are unable to work due to long-term incapacity. This income protection policy has been insured by the Baptist Union of Great Britain with Aviva Limited.

The Scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Scheme’s assets and liabilities to specific employers and means that the scheme is accounted for as if the Scheme were a defined contribution scheme.

The Ministers and some members of the church staff are eligible to join the Scheme.

Actuarial valuation as at 31 December 2019

A formal valuation of the DB Plan as at 31 December 2019 was carried out by a professionally qualified Actuary using the Projected Unit Method. The market value of the DB Plan assets at the valuation date was £298 million.

The valuation of the DB Plan revealed a deficit of assets compared with the value of liabilities of £18 million (equivalent to a past service funding level of 94%). The Church and the other employers supporting the DB Plan are collectively responsible for funding this deficit.

The key financial assumptions underlying the valuation were as follows

Type of assumption % p.a.
RPI price inflation assumption 3.20
CPI price inflation assumption 2.70

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Brighton Road Baptist Church, Horsham

Minimum Pensionable Income increases 3.20 Assumed investment returns · Pre-retirement 2.95 · Post retirement 1.70 Deferred pension increases · Pre-April 2009 3.20 · Post-April 2009 2.50 Pension increases · Based on CPI with an annual floor of 0% and annual cap of 5% 2.70

Post retirement mortality is assumed in accordance with 80% of the S3NFA and S3NMA standard mortality table, with allowance for future improvements in mortality rates from 2013 in line with the “CMI 2019” core projection with a long-term annual rate of improvement of 1.75% for males and 1.5% for females, with the core smoothing parameter and with additional initial mortality improvement factor A=0.5%

The next actuarial valuation of the DB Plan within the Scheme was due to take place not later than as at 31 December 2022. However, the DB Plan is to be wound up, and the process to wind it up was started with effect from 31 March 2024 and therefore no formal valuation is due to take place.

Recovery Plan

In addition to the contributions to the DC Plan set out above, where a valuation of the DB Plan reveals a deficit the Trustee and the Council agree to a rate of deficiency contributions from churches and other employers involved in the DB Plan. Following the 2019 valuation a Recovery Plan was signed in September 2020 under which deficiency contributions were payable until June 2026.

On 30th June 2022 the Baptist Pension Scheme signed an agreement with the insurance company Just Group (“Just”) to secure DB Plan members’ pension benefits. Just are now providing financial backing for all pensions provided through the Scheme’s DB Plan and, following this transaction, the Scheme no longer has a shortfall. An updated Recovery plan was then signed in August 2022 under which recovery contributions from each participating employer in the DB Plan reduced to £1 per month from August 2022. These ceased in

November 2024. The outstanding deficiency contributions due under the Recovery Plan are not considered material and therefore have not been included in the balance sheet.

20 Related Charities

The custodian Trustee of the church is the Baptist Union Corporation limited, which is charity number 249635, and which is controlled by the Baptist Union Council.

The church is also a member of the Baptist Union of Great Britain and of the South Eastern Baptist Association. The church made a gift to the Baptist Union Home Mission Fund of £12,040 (2023: £13,440).

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Brighton Road Baptist Church, Horsham

20 Summary of Organisations’ Accounts

IMAGE P M A WEF Football club Sound Art Lunch
Consolidated Waves Group Club Totals
Treasurer M Brown C Tall R Carey A Rafferty I Rose R Hardwick V Hardwick
Examiner B Stevens A Rafferty W Fynn B Stevens B Stevens W Fynn W Fynn
Receipts £ £ £ £ £ £ £ £ £
Fees and Subs 5,321 0 645 1,212 7,178
Donations/fund raising 1,800 63 400 0 2,263
Sundry 85 85
Total Receipts 0 1,800 63 5,806 0 645 1,212 0 9,526
Payments
Fees and Hire 2,848 2,848
Cont. to Church 3,321 3,321
Food/Refreshments 97 64 954 1,116
Training/Equipment 3,168 31 3,198
Awards/Donations 2,329 63 213 40 2,645
Post, Stationery 120 120
Sundry 462 62 303 11 57 895
Total Payments 3,321 2,888 125 6,652 42 104 1,012 14,144
Surplus/(deficit) -3,321 -1,088 -62 -847 -42 541 200 -4,618
for the year
Balance Brought Fwd 3,321 2,973 503 9,037 1,305 1,838 771 19,748
from previous year
Balance Carried Fwd 0 1,885 441 8,190 1,263 2,379 971 15,130
to next year

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Brighton Road Baptist Church, Horsham

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES/MEMBERS OF BRIGHTON ROAD BAPTIST CHURCH, HORSHAM ON THE ACCOUNTS FOR THE YEAR TO 31 AUGUST 2024

Set out on pages 6-16 attached.

I report to the trustees on my examination of the accounts of Brighton Road Baptist Church for the year ended 31 August 2024.

Responsibilities and basis of Independent Examiner's Report

As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's Statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Governance Institute.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

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.

Andrew Farquhar FCIS

176 St Leonards Road, Horsham, RH13 6BA

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